N-CSRS 1 filing7597.htm PRIMARY DOCUMENT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES



Investment Company Act file number   811-02105



Fidelity Salem Street Trust

 (Exact name of registrant as specified in charter)



245 Summer St., Boston, MA 02210

 (Address of principal executive offices)       (Zip code)



Margaret Carey, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)





Registrant's telephone number, including area code:

617-563-7000





Date of fiscal year end:

October 31





Date of reporting period:

April 30, 2024



Item 1.

Reports to Stockholders







Fidelity® Emerging Markets Index Fund
Fidelity® Global ex U.S. Index Fund
 
 
Semi-Annual Report
April 30, 2024

Contents

Fidelity® Emerging Markets Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity® Global ex U.S. Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Funds nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
8.0
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
4.0
 
Samsung Electronics Co. Ltd.  (Korea (South), Technology Hardware, Storage & Peripherals)
3.6
 
Alibaba Group Holding Ltd.  (China, Broadline Retail)
2.1
 
Reliance Industries Ltd.  (India, Oil, Gas & Consumable Fuels)
1.5
 
PDD Holdings, Inc. ADR  (China, Broadline Retail)
1.0
 
ICICI Bank Ltd.  (India, Banks)
1.0
 
Meituan Class B (China, Hotels, Restaurants & Leisure)
1.0
 
SK Hynix, Inc.  (Korea (South), Semiconductors & Semiconductor Equipment)
0.9
 
China Construction Bank Corp. (H Shares)  (China, Banks)
0.9
 
 
24.0
 
 
Market Sectors (% of Fund's net assets)
 
Information Technology
22.2
 
Financials
21.8
 
Consumer Discretionary
12.4
 
Communication Services
8.8
 
Materials
6.9
 
Industrials
5.6
 
Consumer Staples
5.4
 
Energy
5.1
 
Health Care
3.2
 
Utilities
3.0
 
Real Estate
1.7
 
 
Asset Allocation (% of Fund's net assets)
Futures - 2.2%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
Fidelity® Emerging Markets Index Fund
Common Stocks - 95.4%
 
 
Shares
Value ($)
 
Brazil - 3.4%
 
 
 
Ambev SA
 
4,745,400
11,103,611
Atacadao SA
 
635,100
1,366,188
B3 SA - Brasil Bolsa Balcao
 
5,669,342
11,780,649
Banco Bradesco SA
 
1,605,380
3,821,303
Banco BTG Pactual SA unit
 
1,184,100
7,616,404
Banco do Brasil SA
 
1,726,200
9,115,357
Banco Santander SA (Brasil) unit
 
376,400
2,094,897
BB Seguridade Participacoes SA
 
702,800
4,358,156
Caixa Seguridade Participacoes
 
602,400
1,816,736
CCR SA
 
1,014,000
2,407,776
Centrais Eletricas Brasileiras SA (Electrobras)
 
1,199,065
8,742,557
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
 
343,200
5,341,722
Companhia Siderurgica Nacional SA (CSN)
 
665,700
1,784,567
Cosan SA
 
1,223,096
3,415,417
CPFL Energia SA (a)
 
231,300
1,420,959
Energisa SA unit
 
258,500
2,245,185
Eneva SA (a)
 
556,700
1,327,263
ENGIE Brasil Energia SA
 
204,750
1,612,733
Equatorial Energia SA
 
1,034,980
6,097,146
Hapvida Participacoes e Investimentos SA (a)(b)
 
4,920,544
3,496,670
Hypera SA (a)
 
381,500
2,168,833
Klabin SA unit
 
752,900
3,340,680
Localiza Rent a Car SA
 
918,156
8,669,489
Lojas Renner SA
 
967,098
2,855,142
Magazine Luiza SA (a)
 
3,390,157
887,920
Natura & Co. Holding SA
 
905,090
2,891,700
Petroleo Brasileiro SA - Petrobras (ON)
 
3,738,097
31,862,299
PRIO SA
 
806,200
7,452,452
Raia Drogasil SA
 
1,293,736
6,373,256
Rede D'Oregon Sao Luiz SA (b)
 
574,620
2,877,194
Rumo SA
 
1,303,600
5,061,159
Sendas Distribuidora SA
 
1,357,300
3,429,453
Suzano SA
 
797,717
8,980,961
Telefonica Brasil SA
 
414,800
3,781,657
TIM SA
 
850,700
2,885,034
Totvs SA
 
557,700
2,957,874
Ultrapar Participacoes SA
 
727,800
3,623,162
Vale SA
 
3,418,107
41,661,594
Vibra Energia SA
 
1,169,791
5,285,078
Weg SA
 
1,685,764
12,839,804
TOTAL BRAZIL
 
 
250,850,037
Chile - 0.4%
 
 
 
Banco de Chile
 
45,644,102
5,063,379
Banco de Credito e Inversiones
 
76,826
2,240,722
Banco Santander Chile
 
66,225,821
3,000,701
Cencosud SA
 
1,282,282
2,197,263
Compania Sud Americana de Vapores SA
 
15,460,315
1,206,164
Empresas CMPC SA
 
1,129,701
2,231,043
Empresas COPEC SA
 
391,554
2,794,163
Enel Americas SA
 
21,541,935
2,019,451
Enel Chile SA
 
27,784,356
1,649,610
Falabella SA (a)
 
880,428
2,356,856
LATAM Airlines Group SA
 
182,015,038
2,462,763
TOTAL CHILE
 
 
27,222,115
China - 25.9%
 
 
 
360 Security Technology, Inc. (A Shares) (a)
 
430,400
503,607
37 Interactive Entertainment Network Technology Group Co. Ltd. (A Shares)
 
135,000
310,114
AAC Technology Holdings, Inc.
 
722,000
2,297,864
Accelink Technologies Co. Ltd. (A Shares) (a)
 
48,400
248,133
ACM Research Shanghai, Inc. (A Shares) (a)
 
17,693
199,253
Advanced Micro-Fabrication Equipment, Inc., China (A Shares)
 
37,313
725,492
AECC Aero-Engine Control Co. Ltd. (A Shares)
 
80,100
215,815
AECC Aviation Power Co. Ltd.
 
160,600
782,714
Agricultural Bank of China Ltd.:
 
 
 
 (A Shares)
 
5,088,900
3,088,946
 (H Shares)
 
27,833,000
12,411,039
Aier Eye Hospital Group Co. Ltd. (A Shares)
 
561,971
998,135
AIMA Technology Group Co. Ltd.
 
52,500
254,767
Air China Ltd.:
 
 
 
 (A Shares) (a)
 
634,500
645,235
 (H Shares) (a)(c)
 
1,872,000
938,541
Airtac International Group
 
140,551
4,967,480
Akeso, Inc. (a)(b)
 
507,000
3,102,395
Alibaba Group Holding Ltd.
 
16,344,240
153,032,175
Alibaba Health Information Technology Ltd. (a)(c)
 
5,656,000
2,111,265
Aluminum Corp. of China Ltd.:
 
 
 
 (A shares)
 
826,400
843,769
 (H Shares)
 
3,912,000
2,594,493
Amlogic Shanghai Co. Ltd. (A Shares)
 
25,361
201,634
Angel Yeast Co. Ltd. (A Shares)
 
52,900
217,200
Anhui Conch Cement Co. Ltd.:
 
 
 
 (A Shares)
 
245,600
777,967
 (H Shares)
 
1,232,000
2,858,321
Anhui Gujing Distillery Co. Ltd.:
 
 
 
 (A Shares)
 
24,600
919,400
 (B Shares)
 
108,500
1,778,434
Anhui Jianghuai Automobile Group Corp. Ltd. (A Shares) (a)
 
133,000
286,255
Anhui Kouzi Distillery Co. Ltd. (A Shares)
 
36,600
210,463
Anhui Yingjia Distillery Co. Ltd. (A Shares)
 
40,600
396,997
Anjoy Foods Group Co. Ltd. (A Shares)
 
17,900
227,301
Anker Innovations Technology Co. Ltd. (A Shares) (a)
 
24,700
293,448
Anta Sports Products Ltd.
 
1,279,800
14,488,606
Asia - Potash International Investment Guangzhou Co. Ltd. (A Shares) (a)
 
56,600
138,679
ASR Microelectronics Co. Ltd. (A Shares)
 
25,481
143,531
Asymchem Laboratories Tianjin Co. Ltd. (A Shares)
 
20,840
237,129
Autobio Diagnostics Co. Ltd.
 
35,700
280,344
Autohome, Inc. ADR Class A
 
68,032
1,748,422
Avary Holding Shenzhen Co. Ltd. (A Shares)
 
117,700
390,473
AVIC Capital Co. Ltd. (A Shares)
 
537,300
220,070
AviChina Industry & Technology Co. Ltd. (H Shares)
 
2,494,000
1,072,600
Avicopter PLC (A Shares)
 
35,900
206,070
BAIC BluePark New Energy Technology Co. Ltd. (A Shares) (a)
 
339,300
317,589
Baidu, Inc. Class A (a)
 
2,264,602
29,339,246
Bank of Beijing Co. Ltd. (A Shares)
 
1,274,680
981,272
Bank of Changsha Co. Ltd. (A Shares)
 
244,900
275,543
Bank of Chengdu Co. Ltd. (A Shares)
 
232,300
473,939
Bank of China Ltd.:
 
 
 
 (A Shares)
 
2,070,600
1,310,136
 (H Shares)
 
79,836,000
35,805,684
Bank of Communications Co. Ltd.:
 
 
 
 (A Shares)
 
2,330,300
2,210,371
 (H Shares)
 
8,835,000
6,361,723
Bank of Hangzhou Co. Ltd. (A Shares)
 
357,420
636,406
Bank of Jiangsu Co. Ltd. (A Shares)
 
1,106,000
1,233,027
Bank of Nanjing Co. Ltd. (A Shares)
 
623,400
801,893
Bank of Ningbo Co. Ltd. (A Shares)
 
397,880
1,256,346
Bank of Shanghai Co. Ltd. (A Shares)
 
856,877
863,311
Bank of Suzhou Co. Ltd.
 
223,400
232,608
Baoshan Iron & Steel Co. Ltd. (A Shares)
 
1,333,000
1,276,615
BeiGene Ltd. (a)
 
684,530
8,120,306
Beijing Dabeinong Technology Group Co. Ltd. (A Shares)
 
251,800
162,707
Beijing Enlight Media Co. Ltd. (A Shares)
 
178,500
230,052
Beijing Enterprises Holdings Ltd.
 
506,000
1,619,985
Beijing Enterprises Water Group Ltd.
 
4,036,000
1,017,923
Beijing Kingsoft Office Software, Inc. (A Shares)
 
27,815
1,178,178
Beijing New Building Materials PLC (A Shares)
 
102,900
464,692
Beijing Oriental Yuhong Waterproof Technology Co. Ltd. (A Shares)
 
76,700
154,694
Beijing Roborock Technology Co. Ltd. (A Shares)
 
8,006
467,758
Beijing Tiantan Biological Products Corp. Ltd. (A Shares)
 
100,300
397,198
Beijing Tongrentang Co. Ltd. (A Shares)
 
82,600
481,701
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. (A Shares)
 
51,007
479,210
Beijing Yanjing Brewery Co. Ltd. (A Shares)
 
171,600
234,184
Beijing-Shanghai High Speed Railway Co. Ltd. (A Shares)
 
2,958,300
2,073,581
Beiqi Foton Motor Co. Ltd. (A Shares) (a)
 
487,400
176,286
Bethel Automotive Safety Systems Co. Ltd. (A Shares)
 
26,400
209,129
Bilibili, Inc. Class Z (a)(c)
 
231,032
2,933,686
Bloomage Biotechnology Corp. Ltd. (A Shares)
 
29,326
248,322
BOC Aviation Ltd. Class A (b)
 
209,100
1,663,126
BOC International China Co. Ltd.
 
169,100
238,983
BOE Technology Group Co. Ltd. (A Shares)
 
2,229,500
1,338,287
Bosideng International Holdings Ltd.
 
3,834,000
2,219,379
Brilliance China Automotive Holdings Ltd.
 
3,040,000
2,524,372
By-Health Co. Ltd. (A Shares)
 
103,600
225,986
BYD Co. Ltd.:
 
 
 
 (A Shares)
 
107,900
3,239,557
 (H Shares)
 
1,048,500
28,742,094
BYD Electronic International Co. Ltd.
 
792,000
2,668,078
C&D International Investment Group Ltd.
 
666,674
1,320,627
Caitong Securities Co. Ltd.
 
282,690
298,112
Cambricon Technologies Corp. Ltd. (A Shares) (a)
 
25,097
579,164
Canmax Technologies Co. Ltd. (A Shares)
 
51,020
148,400
Cathay Biotech, Inc. (A Shares) (a)
 
35,560
251,152
CECEP Solar Energy Co. Ltd. (A Shares)
 
238,000
169,284
CGN Power Co. Ltd.:
 
 
 
 (A Shares) (a)
 
918,700
520,921
 (H Shares) (b)
 
10,705,000
3,589,474
Changchun High & New Technology Industry Group, Inc. (A Shares)
 
24,300
377,797
Changjiang Securities Co. Ltd. (A Shares)
 
336,600
262,797
Changzhou Xingyu Automotive Lighting Systems Co. Ltd. (A Shares)
 
17,400
317,870
Chaozhou Three-Circle Group Co. (A Shares)
 
116,700
448,020
Chengxin Lithium Group Co. Ltd. (A Shares)
 
56,200
138,892
Chifeng Jilong Gold Mining Co. Ltd. (A Shares) (a)
 
101,400
248,783
China Baoan Group Co. Ltd. (A Shares)
 
157,100
227,533
China Cinda Asset Management Co. Ltd. (H Shares)
 
9,535,000
859,264
China CITIC Bank Corp. Ltd.:
 
 
 
 (A Shares)
 
32,900
31,191
 (H Shares)
 
8,912,000
5,213,819
China Coal Energy Co. Ltd. (H Shares)
 
2,062,000
2,077,134
China Communications Services Corp. Ltd. (H Shares)
 
2,400,000
1,147,313
China Construction Bank Corp.:
 
 
 
 (A Shares)
 
542,600
532,836
 (H Shares)
 
96,616,000
62,509,689
China CSSC Holdings Ltd. (A Shares)
 
269,500
1,354,191
China Eastern Airlines Corp. Ltd. (A Shares) (a)
 
1,027,100
543,407
China Energy Engineering Corp. Ltd. (A Shares)
 
1,954,200
592,576
China Everbright Bank Co. Ltd.:
 
 
 
 (A Shares)
 
2,705,600
1,176,505
 (H Shares)
 
3,323,000
1,006,723
China Feihe Ltd. (b)
 
3,642,000
1,991,686
China Film Co. Ltd. (A Shares) (a)
 
113,600
186,138
China Galaxy Securities Co. Ltd.:
 
 
 
 (A Shares)
 
355,400
607,815
 (H Shares)
 
3,548,500
1,922,106
China Gas Holdings Ltd.
 
2,729,000
2,555,248
China Great Wall Securities Co. Ltd. (A Shares)
 
245,500
258,832
China Greatwall Technology Group Co. Ltd. (A Shares)
 
196,400
263,381
China Hongqiao Group Ltd. (c)
 
2,379,000
3,282,735
China Huishan Dairy Holdings Co. Ltd. (a)(d)
 
888,000
1
China International Capital Corp. Ltd.
 
145,400
666,947
China International Capital Corp. Ltd. (H Shares) (b)
 
1,535,600
1,851,699
China Jushi Co. Ltd. (A Shares)
 
243,804
400,753
China Life Insurance Co. Ltd.:
 
 
 
 (A Shares)
 
161,900
682,367
 (H Shares)
 
7,489,000
9,862,438
China Literature Ltd. (a)(b)
 
411,000
1,468,115
China Longyuan Power Grid Corp. Ltd. (H Shares)
 
3,354,000
2,349,589
China Medical System Holdings Ltd.
 
1,354,000
1,208,919
China Mengniu Dairy Co. Ltd.
 
3,161,000
6,547,942
China Merchants Bank Co. Ltd.:
 
 
 
 (A Shares)
 
1,237,300
5,838,065
 (H Shares)
 
3,924,346
16,995,784
China Merchants Energy Shipping Co. Ltd. (A Shares)
 
490,600
577,064
China Merchants Expressway Network & Technology Holdings Co. Ltd. (A Shares) (a)
 
190,300
290,793
China Merchants Holdings International Co. Ltd.
 
1,263,283
1,668,311
China Merchants Securities Co. Ltd. (A Shares)
 
447,000
900,377
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares)
 
545,800
635,888
China Minmetals Rare Earth Co. Ltd. (A Shares)
 
64,600
249,509
China Minsheng Banking Corp. Ltd.:
 
 
 
 (A Shares)
 
2,617,500
1,427,229
 (H Shares)
 
5,850,540
2,140,604
China National Building Materials Co. Ltd. (H Shares)
 
3,890,000
1,505,189
China National Chemical Engineering Co. Ltd. (A Shares)
 
372,000
353,269
China National Medicines Corp. Ltd. (A Shares)
 
45,900
219,963
China National Nuclear Power Co. Ltd. (A Shares)
 
1,137,600
1,450,359
China National Software & Service Co. Ltd. (A Shares)
 
52,310
217,746
China Northern Rare Earth Group High-Tech Co. Ltd.
 
217,900
579,089
China Oilfield Services Ltd. (H Shares)
 
1,818,000
1,943,999
China Overseas Land and Investment Ltd.
 
3,846,500
7,073,225
China Overseas Property Holdings Ltd. (c)
 
1,320,000
802,871
China Pacific Insurance (Group) Co. Ltd.
 
408,000
1,446,153
China Pacific Insurance (Group) Co. Ltd. (H Shares)
 
2,655,400
5,818,190
China Petroleum & Chemical Corp.:
 
 
 
 (A Shares)
 
2,059,600
1,801,110
 (H Shares)
 
24,241,000
14,469,501
China Power International Development Ltd.
 
4,967,563
2,004,590
China Railway Group Ltd.:
 
 
 
 (A Shares)
 
1,205,600
1,088,962
 (H Shares)
 
4,285,000
2,114,471
China Railway Signal & Communications Corp. (A Shares)
 
437,401
325,753
China Resource Gas Group Ltd.
 
929,300
2,920,764
China Resources Beer Holdings Co. Ltd.
 
1,628,878
7,424,528
China Resources Land Ltd.
 
3,222,244
11,586,665
China Resources Microelectronics Ltd. (A Shares)
 
79,543
399,404
China Resources Mixc Lifestyle Services Ltd. (b)
 
687,600
2,420,190
China Resources Pharmaceutical Group Ltd. (b)
 
1,577,000
1,019,786
China Resources Power Holdings Co. Ltd.
 
1,931,691
4,803,838
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares)
 
60,200
498,167
China Ruyi Holdings Ltd. (a)(c)
 
5,816,000
1,456,750
China Shenhua Energy Co. Ltd.:
 
 
 
 (A Shares)
 
391,300
2,149,353
 (H Shares)
 
3,399,000
14,107,451
China Southern Airlines Ltd.:
 
 
 
 (A Shares) (a)
 
546,900
427,216
 (H Shares) (a)(c)
 
342,000
123,658
China State Construction Engineering Corp. Ltd. (A Shares)
 
2,525,680
1,865,638
China State Construction International Holdings Ltd.
 
2,023,000
2,134,473
China Taiping Insurance Group Ltd.
 
1,443,377
1,319,703
China Three Gorges Renewables Group Co. Ltd. (A Shares)
 
1,723,700
1,114,610
China Tourism Group Duty Free Corp. Ltd.:
 
 
 
 (A Shares)
 
116,400
1,194,321
 (H Shares) (b)(c)
 
112,600
991,575
China Tower Corp. Ltd. (H Shares) (b)
 
44,510,000
5,210,312
China United Network Communications Ltd. (A Shares)
 
1,916,000
1,235,690
China Vanke Co. Ltd.:
 
 
 
 (A Shares)
 
594,700
605,352
 (H Shares) (c)
 
2,199,800
1,290,153
China XD Electric Co. Ltd. (A Shares) (a)
 
312,300
302,969
China Yangtze Power Co. Ltd. (A Shares)
 
1,474,100
5,244,828
China Zhenhua (Group) Science & Technology Co. Ltd. (A Shares)
 
33,600
215,994
China Zheshang Bank Co. Ltd.
 
1,312,680
542,724
Chongqing Brewery Co. Ltd. (A Shares)
 
29,500
285,891
Chongqing Changan Automobile Co. Ltd. (A Shares)
 
498,576
1,008,388
Chongqing Rural Commercial Bank Co. Ltd.:
 
 
 
 (A Shares)
 
493,200
315,811
 (H Shares)
 
70,000
29,962
Chongqing Taiji Industry Group Co. Ltd. (A Shares) (a)
 
33,900
169,597
Chongqing Zhifei Biological Products Co. Ltd. (A Shares)
 
144,550
698,172
Chow Tai Fook Jewellery Group Ltd.
 
2,005,600
2,728,917
CITIC Pacific Ltd.
 
5,842,000
5,528,883
CITIC Securities Co. Ltd.:
 
 
 
 (A Shares)
 
731,595
1,907,235
 (H Shares)
 
1,718,925
2,736,727
Cmoc Group Ltd.:
 
 
 
 (A Shares)
 
1,039,000
1,277,554
 (H Shares)
 
3,786,000
3,552,063
CNGR Advanced Material Co. Ltd.
 
40,800
294,400
CNPC Capital Co. Ltd. (A Shares) (a)
 
513,100
414,422
Contemporary Amperex Technology Co. Ltd.
 
265,080
7,414,337
COSCO Shipping Development Co. Ltd. (A Shares)
 
603,100
204,480
COSCO Shipping Energy Transportation Co. Ltd.:
 
 
 
 (A Shares)
 
205,600
452,435
 (H Shares)
 
1,310,000
1,536,320
COSCO SHIPPING Holdings Co. Ltd.:
 
 
 
 (A Shares)
 
752,710
1,213,700
 (H Shares)
 
3,016,050
3,902,267
Cosco Shipping Ports Ltd.
 
1,250,977
767,673
Country Garden Holdings Co. Ltd. (a)(c)
 
12,645,958
804,277
Country Garden Services Holdings Co. Ltd.
 
2,182,000
1,455,701
CRRC Corp. Ltd.:
 
 
 
 (A Shares)
 
1,433,500
1,380,287
 (H Shares)
 
4,447,000
2,454,713
CSC Financial Co. Ltd. (A Shares)
 
260,800
800,605
CSPC Innovation Pharmaceutical Co. Ltd. (A Shares)
 
85,560
404,773
CSPC Pharmaceutical Group Ltd.
 
8,963,840
7,360,498
CSSC Science & Technology Co. Ltd. (a)
 
91,700
200,993
Daqin Railway Co. Ltd. (A Shares)
 
948,900
899,567
DaShenLin Pharmaceutical Group Co. Ltd.
 
69,367
208,082
Datang International Power Generation Co. Ltd. (A Shares)
 
628,500
261,142
Dong-E-E-Jiao Co. Ltd. (A Shares)
 
39,200
371,151
Dongfang Electric Corp. Ltd. (A Shares)
 
169,200
393,157
Dongfeng Motor Group Co. Ltd. (H Shares)
 
2,278,000
826,100
Dongxing Securities Co. Ltd. (A Shares)
 
196,700
238,641
East Buy Holding Ltd. (a)(b)(c)
 
459,000
970,420
East Money Information Co. Ltd. (A Shares)
 
955,117
1,713,313
Eastroc Beverage Group Co. Ltd. (a)
 
16,200
475,377
Ecovacs Robotics Co. Ltd. Class A
 
35,100
239,298
Empyrean Technology Co. Ltd. (A Shares) (a)
 
22,000
237,231
ENN Energy Holdings Ltd.
 
795,100
6,774,565
ENN Natural Gas Co. Ltd. (A Shares)
 
157,300
391,912
Eoptolink Technology, Inc. Ltd. (A Shares)
 
43,200
506,732
Eve Energy Co. Ltd. (A shares)
 
123,255
628,623
Everbright Securities Co. Ltd. (A Shares)
 
235,200
535,511
Everdisplay Optronics Shanghai Co. Ltd. (A Shares) (a)
 
702,927
214,745
Fangda Carbon New Material Co. Ltd. (A Shares) (a)
 
245,181
171,292
Far East Horizon Ltd.
 
1,949,000
1,446,759
FAW Jiefang Group Co. Ltd. (A Shares) (a)
 
188,400
233,258
First Capital Securities Co. Ltd. (A Shares)
 
255,800
202,084
Flat Glass Group Co. Ltd.
 
376,000
905,699
Flat Glass Group Co. Ltd. (A Shares)
 
126,800
464,048
Focus Media Information Technology Co. Ltd. (A Shares)
 
869,820
778,603
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares)
 
279,256
1,508,249
Fosun International Ltd.
 
2,469,500
1,456,985
Founder Securities Co. Ltd. (A Shares)
 
495,900
612,736
Foxconn Industrial Internet Co. Ltd. (A Shares)
 
797,696
2,635,766
Fujian Sunner Development Co. Ltd. A Shares
 
75,700
163,335
Fuyao Glass Industries Group Co. Ltd.:
 
 
 
 (A Shares)
 
151,500
1,041,683
 (H Shares) (b)
 
573,600
3,434,180
GalaxyCore, Inc. (A Shares)
 
105,576
240,770
Ganfeng Lithium Group Co. Ltd.:
 
 
 
 (A Shares)
 
113,500
550,296
 (H Shares) (b)
 
370,040
1,085,136
GCL Technology Holdings Ltd.
 
21,639,000
3,205,016
GD Power Development Co. Ltd. (A Shares)
 
1,074,300
759,196
Geely Automobile Holdings Ltd.
 
6,063,000
7,297,176
GEM Co. Ltd. (A Shares)
 
312,800
299,851
Genscript Biotech Corp. (a)
 
1,172,000
1,728,314
GF Securities Co. Ltd.:
 
 
 
 (A Shares)
 
350,200
636,827
 (H Shares)
 
1,038,200
1,034,298
Giant Biogene Holding Co. Ltd. (b)
 
299,800
1,826,603
Giant Network Group Co. Ltd. (A Shares)
 
120,100
194,150
Gigadevice Semiconductor Beijing, Inc. (A Shares)
 
40,084
432,392
Ginlong Technologies Co. Ltd. (A Shares)
 
24,450
180,033
GoerTek, Inc. (A Shares)
 
206,100
447,540
Goldwind Science & Technology Co. Ltd. (A Shares)
 
210,300
220,794
Goneo Group Co. Ltd. (A Shares)
 
27,200
447,987
GoodWe Technologies Co. Ltd. (A Shares)
 
10,530
134,661
Gotion High-tech Co. Ltd. (A Shares) (a)
 
108,700
280,580
Great Wall Motor Co. Ltd.:
 
 
 
 (A Shares)
 
146,000
526,609
 (H Shares)
 
2,336,500
3,530,784
Gree Electric Appliances, Inc. of Zhuhai (A Shares)
 
169,600
983,948
Greenland Holdings Corp. Ltd. (A Shares) (a)
 
713,000
180,593
GRG Banking Equipment Co. Ltd. (A Shares)
 
151,200
247,786
Guangdong Haid Group Co. Ltd. (A Shares)
 
100,200
689,469
Guangdong HEC Technology Holding Co. Ltd. (A Shares) (a)
 
183,600
224,299
Guangdong Investment Ltd.
 
2,954,000
1,543,067
Guanghui Energy Co. Ltd. (A Shares)
 
399,800
406,432
Guangzhou Automobile Group Co. Ltd.
 
316,900
382,951
Guangzhou Automobile Group Co. Ltd. (H Shares)
 
2,894,000
1,195,582
Guangzhou Baiyun International Airport Co. Ltd. (A Shares) (a)
 
143,900
205,205
Guangzhou Baiyunshan Pharma Health (A Shares)
 
85,600
378,187
Guangzhou Haige Communications Group (A Shares)
 
151,000
226,612
Guangzhou Kingmed Diagnostics Group Co. Ltd. (A Shares)
 
28,500
150,579
Guangzhou Shiyuan Electronic Technology Co. Ltd. (A Shares)
 
42,700
196,613
Guangzhou Tinci Materials Technology Co. Ltd. (A Shares)
 
117,200
338,564
Guangzhou Yuexiu Financial Holdings Group Co. Ltd. (A Shares)
 
254,417
202,651
Guolian Securities Co. Ltd. (a)(d)
 
145,400
210,035
Guosen Securities Co. Ltd. (A Shares)
 
390,000
482,218
Guotai Junan Securities Co. Ltd. (A Shares)
 
452,600
856,695
Guoyuan Securities Co. Ltd. (A Shares)
 
265,610
249,232
H World Group Ltd. ADR
 
208,040
7,637,148
Haidilao International Holding Ltd. (b)
 
1,679,000
3,788,173
Haier Smart Home Co. Ltd.
 
2,449,800
9,074,120
Haier Smart Home Co. Ltd. (A Shares)
 
370,500
1,541,398
Hainan Airlines Co. Ltd. (A Shares) (a)
 
2,589,700
488,530
Hainan Airport Infrastructure Co. Ltd. (A Shares) (a)
 
695,500
335,437
Haitian International Holdings Ltd.
 
641,000
2,087,640
Haitong Securities Co. Ltd.:
 
 
 
 (A Shares)
 
549,100
633,129
 (H Shares)
 
2,836,800
1,354,917
Hanergy Mobile Energy Holding (a)(d)
 
1,618,000
2
Hangzhou Binjiang Real Estate Group Co. Ltd. (A Shares)
 
189,400
175,233
Hangzhou Chang Chuan Technology Co. Ltd.
 
38,000
152,575
Hangzhou First Applied Material Co. Ltd. (A Shares)
 
113,484
424,343
Hangzhou Greatstar Industrial Co. Ltd. (A Shares)
 
73,200
255,101
Hangzhou Oxygen Plant Group Co. Ltd. (A Shares)
 
60,000
225,713
Hangzhou Robam Appliances Co. Ltd. (A Shares)
 
57,800
188,291
Hangzhou Silan Microelectronics Co. Ltd. (A Shares)
 
101,400
267,168
Hangzhou Tigermed Consulting Co. Ltd.:
 
 
 
 (A Shares)
 
21,400
173,821
 (H Shares) (b)
 
2,300
10,157
Hansoh Pharmaceutical Group Co. Ltd. (b)
 
1,192,000
2,633,957
Haohua Chemical Science & Technology Co. Ltd. (A Shares)
 
46,300
198,221
Hebei Yangyuan Zhihui Beverage Co. Ltd. (A Shares) (a)
 
77,000
278,828
Heilongjiang Agriculture Co. Ltd. (A Shares)
 
108,300
195,416
Henan Shenhuo Coal & Power Co. Ltd. (A Shares)
 
137,100
409,173
Henan Shuanghui Investment & Development Co. Ltd. (A Shares)
 
208,823
776,500
Hengan International Group Co. Ltd.
 
641,500
2,153,625
Hengdian Group DMEGC Magnetics Co. Ltd. (A Shares)
 
99,100
196,476
Hengli Petrochemical Co. Ltd. (A Shares) (a)
 
424,240
905,782
Hengtong Optic-electric Co. Ltd. (A Shares)
 
149,900
291,827
Hengyi Petrochemical Co. Ltd. (A Shares) (a)
 
223,320
230,645
Hesteel Co. Ltd. (A Shares)
 
630,600
190,268
Hisense Electric Co. Ltd.
 
79,500
305,661
Hithink RoyalFlush Information Network Co. Ltd. (A Shares)
 
32,300
535,705
HLA Group Corp. Ltd. (A Shares) (a)
 
266,800
335,060
Hongfa Technology Co. Ltd. (A Shares)
 
31,740
124,824
Hoshine Silicon Industry Co. Ltd. (A Shares)
 
48,000
319,696
Hoymiles Power Electronics, Inc. (A Shares)
 
4,968
155,125
Hua Hong Semiconductor Ltd. (b)
 
592,000
1,166,657
Huadian Power International Corp. Ltd. (A Shares)
 
518,000
482,854
Huadong Medicine Co. Ltd. (A Shares)
 
105,680
480,064
Huafon Chemical Co. Ltd. (A Shares)
 
302,400
339,096
Huagong Tech Co. Ltd. (A Shares) (a)
 
61,200
280,039
Huaibei Mining Holdings Co. Ltd. (A Shares)
 
151,100
401,961
Hualan Biological Engineer, Inc. (A Shares)
 
111,260
298,689
Huaneng Power International, Inc.:
 
 
 
 (A Shares) (a)
 
542,900
700,577
 (H Shares) (a)
 
4,266,000
2,715,315
Huatai Securities Co. Ltd.:
 
 
 
 (A Shares)
 
377,600
714,121
 (H Shares) (b)
 
1,404,000
1,660,399
Huaxia Bank Co. Ltd. (A Shares)
 
799,500
739,965
Huayu Automotive Systems Co. Ltd. (A Shares)
 
192,000
435,947
Hubei Jumpcan Pharmaceutical Co. Ltd. (A Shares)
 
56,100
318,171
Huizhou Desay SV Automotive Co. Ltd.
 
33,800
583,777
Humanwell Healthcare Group Co. Ltd. (A Shares)
 
99,400
277,171
Hunan Valin Steel Co. Ltd. (A Shares)
 
420,900
302,857
Hundsun Technologies, Inc. (A Shares)
 
115,652
326,741
Hwatsing Technology Co. Ltd. (A Shares)
 
9,682
227,049
Hygeia Healthcare Holdings Co. (b)(c)
 
348,800
1,439,649
Hygon Information Technology Co. Ltd. (A Shares)
 
116,692
1,254,922
IEIT Systems Co. Ltd. (A Shares)
 
88,596
494,075
iFlytek Co. Ltd. (A Shares)
 
139,500
862,403
IMEIK Technology Development Co. Ltd. (A Shares)
 
18,200
538,373
Industrial & Commercial Bank of China Ltd.:
 
 
 
 (A Shares)
 
3,941,700
2,952,568
 (H Shares)
 
65,144,000
34,932,074
Industrial Bank Co. Ltd. (A Shares)
 
1,251,700
2,907,429
Industrial Securities Co. Ltd. (A Shares)
 
525,710
403,909
Ingenic Semiconductor Co. Ltd. (A Shares)
 
29,300
255,220
Inner Mongoli Yili Industries Co. Ltd. (A Shares)
 
383,500
1,511,334
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) (a)
 
2,737,800
602,844
Inner Mongolia Dian Tou Energy Corp. Ltd.
 
136,500
396,707
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. (A Shares)
 
514,300
298,474
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)
 
1,066,704
2,073,163
Inner Mongolia Yuan Xing Energy Co. Ltd. (A Shares)
 
227,900
225,388
Innovent Biologics, Inc. (a)(b)
 
1,218,500
5,898,715
iQIYI, Inc. ADR (a)
 
445,721
2,161,747
iRay Technology Co. Ltd. (A Shares)
 
6,210
170,136
iSoftStone Information Technology Group Co. Ltd. (A Shares)
 
58,000
333,920
JA Solar Technology Co. Ltd. (A Shares)
 
199,872
391,976
Jason Furniture Hangzhou Co. Ltd. (A Shares)
 
50,010
230,215
JCET Group Co. Ltd. (A Shares)
 
109,000
384,288
JD Health International, Inc. (a)(b)
 
1,120,550
3,822,001
JD Logistics, Inc. (a)(b)
 
1,990,500
2,154,368
JD.com, Inc. Class A
 
2,352,707
33,898,678
Jiangsu Eastern Shenghong Co. Ltd.
 
398,400
544,459
Jiangsu Expressway Co. Ltd. (H Shares)
 
1,228,000
1,204,320
Jiangsu Hengli Hydraulic Co. Ltd.
 
80,876
569,363
Jiangsu Hengrui Medicine Co. Ltd. (A Shares)
 
384,275
2,440,261
Jiangsu King's Luck Brewery JSC Ltd. (A Shares)
 
75,600
597,863
Jiangsu Nhwa Pharmaceutical Co. Ltd. (A Shares) (a)
 
61,400
211,657
Jiangsu Pacific Quartz Co. Ltd. (A Shares)
 
22,000
237,455
Jiangsu Phoenix Publishing & Media Corp. Ltd. (a)
 
154,900
217,591
Jiangsu Yanghe Brewery JSC Ltd. (A Shares)
 
90,700
1,187,308
Jiangsu Yangnong Chemical Co. Ltd. (A Shares)
 
24,760
219,774
Jiangsu Yoke Technology Co. Ltd. (A Shares)
 
29,000
255,114
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. (A Shares)
 
61,000
325,294
Jiangsu Zhongtian Technology Co. Ltd. (A Shares)
 
207,800
387,724
Jiangxi Copper Co. Ltd.:
 
 
 
 (A Shares)
 
120,500
432,068
 (H Shares)
 
1,123,000
2,287,137
Jiangxi Special Electric Motor Co. Ltd. (A Shares) (a)
 
103,900
139,070
Jinduicheng Molybdenum Co. Ltd. (A Shares)
 
196,600
307,573
Jinko Solar Co. Ltd. (A Shares)
 
502,326
522,117
JiuGui Liquor Co. Ltd. (A Shares)
 
19,800
139,186
Jizhong Energy Resources Co. Ltd. (A Shares)
 
215,300
222,663
Joincare Pharmaceutical Group Industry Co. Ltd. (A Shares)
 
113,600
190,322
Jointown Pharmaceutical Group (A Shares)
 
237,946
269,237
Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd. (A Shares) (a)
 
47,800
194,379
Juneyao Airlines Co. Ltd. (A shares) (a)
 
134,400
227,868
Kangmei Pharmaceutical Co. Ltd. rights (a)(d)
 
9,606
0
Kanzhun Ltd. ADR
 
223,587
4,424,787
KE Holdings, Inc. ADR
 
657,522
9,941,733
Keda Industrial Group Co. Ltd.
 
118,800
165,513
Kingboard Chemical Holdings Ltd.
 
667,500
1,467,016
Kingdee International Software Group Co. Ltd. (a)
 
2,917,000
3,077,510
Kingnet Network Co. Ltd. (A Shares)
 
131,100
212,435
Kingsoft Corp. Ltd.
 
959,800
3,118,375
Kuaishou Technology Class B (a)(b)
 
2,353,400
16,499,004
Kuang-Chi Technologies Co. Ltd. (A Shares) (a)
 
131,200
353,493
Kunlun Energy Co. Ltd.
 
3,914,000
3,794,150
Kunlun Tech Co. Ltd. (A Shares) (a)
 
74,000
403,928
Kweichow Moutai Co. Ltd. (A Shares)
 
75,700
17,749,091
Lb Group Co. Ltd. (A Shares)
 
145,373
420,290
Lenovo Group Ltd.
 
8,086,000
9,094,807
Lens Technology Co. Ltd. (A Shares)
 
300,100
589,916
Lepu Medical Technology Beijing Co. Ltd. (A Shares)
 
114,500
231,369
Li Auto, Inc. Class A (a)
 
1,152,648
15,101,878
Li Ning Co. Ltd.
 
2,372,500
6,210,894
Liaoning Port Co. Ltd. (A Shares)
 
1,146,000
227,700
Lingyi iTech Guangdong Co. (A Shares)
 
426,700
305,149
Livzon Pharmaceutical Group, Inc. (A Shares)
 
37,500
207,416
Longfor Properties Co. Ltd. (b)
 
1,985,560
2,940,904
LONGi Green Energy Technology Co. Ltd.
 
456,548
1,143,233
Luxshare Precision Industry Co. Ltd. (A Shares)
 
431,428
1,729,381
Luzhou Laojiao Co. Ltd. (A Shares)
 
88,600
2,267,895
Mango Excellent Media Co. Ltd. (A Shares)
 
113,907
366,748
Maxscend Microelectronics Co. Ltd. (A Shares)
 
32,076
399,665
Meihua Holdings Group Co. Ltd. (A Shares)
 
179,400
274,739
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) (a)
 
238,160
145,262
Meituan Class B (a)(b)
 
5,096,720
69,593,322
Metallurgical Corp. China Ltd. (A Shares)
 
1,076,000
484,649
MGI Tech Co. Ltd. (A Shares)
 
25,313
203,633
Midea Group Co. Ltd. (A Shares)
 
211,700
2,036,080
Ming Yang Smart Energy Group Ltd. (A Shares)
 
138,400
186,403
MINISO Group Holding Ltd.
 
380,764
2,147,909
Montage Technology Co. Ltd. (A Shares)
 
68,611
476,518
Muyuan Foodstuff Co. Ltd. (A Shares)
 
329,240
1,979,782
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd.
 
98,435
185,766
Nanjing Securities Co. Ltd. (A Shares)
 
224,400
253,392
NARI Technology Co. Ltd. (A Shares)
 
483,994
1,565,422
National Silicon Industry Group Co. Ltd. (A Shares) (a)
 
167,365
305,443
NAURA Technology Group Co. Ltd.
 
32,000
1,401,274
NetEase, Inc.
 
1,942,750
36,416,151
New China Life Insurance Co. Ltd.
 
120,400
520,670
New China Life Insurance Co. Ltd. (H Shares)
 
842,900
1,616,480
New Hope Liuhe Co. Ltd. (A Shares) (a)
 
276,700
340,194
New Oriental Education & Technology Group, Inc. (a)
 
1,484,810
11,798,249
Ninestar Corp. (A Shares)
 
86,200
299,907
Ningbo Deye Technology Co. Ltd. (A Shares)
 
26,220
337,408
Ningbo Joyson Electronic Corp. (A shares)
 
85,800
207,381
Ningbo Orient Wires & Cables Co. Ltd. (A Shares)
 
41,900
254,727
Ningbo Sanxing Medical Electric Co. Ltd. (a)
 
86,000
397,041
Ningbo Shanshan Co. Ltd. (A Shares)
 
137,600
224,335
Ningbo Tuopu Group Co. Ltd. (A Shares)
 
70,100
603,216
Ningxia Baofeng Energy Group Co. Ltd.
 
442,000
1,010,376
NIO, Inc. sponsored ADR (a)(c)
 
1,357,541
6,407,594
Nongfu Spring Co. Ltd. (H Shares) (b)
 
2,022,200
11,880,263
Offcn Education Technology Co. A Shares (a)
 
375,500
137,091
Offshore Oil Enginering Co. Ltd. (A Shares)
 
269,300
236,001
OFILM Group Co. Ltd. (A Shares) (a)
 
198,300
239,063
Oppein Home Group, Inc. (A Shares)
 
30,860
264,999
Orient Securities Co. Ltd. (A Shares)
 
449,808
516,797
Oriental Pearl Group Co. Ltd. (a)
 
207,800
197,503
Pangang Group Vanadium Titanium & Resources Co. Ltd. (A Shares) (a)
 
566,200
242,156
PDD Holdings, Inc. ADR (a)
 
600,300
75,145,554
People's Insurance Co. of China Group Ltd.:
 
 
 
 (A Shares)
 
537,300
387,726
 (H Shares)
 
8,829,000
2,897,901
People.cn Co. Ltd. (A Shares) (a)
 
67,300
229,350
Perfect World Co. Ltd. (A Shares)
 
118,100
162,605
PetroChina Co. Ltd.:
 
 
 
 (A Shares)
 
1,284,900
1,812,796
 (H Shares)
 
21,208,000
19,760,374
Pharmaron Beijing Co. Ltd.:
 
 
 
 (A Shares)
 
86,925
235,403
 (H Shares) (b)
 
8,575
10,511
PICC Property & Casualty Co. Ltd. (H Shares)
 
6,927,840
8,607,032
Ping An Bank Co. Ltd. (A Shares)
 
1,169,200
1,737,827
Ping An Insurance Group Co. of China Ltd.:
 
 
 
 (A Shares)
 
644,794
3,665,370
 (H Shares)
 
6,735,500
30,525,847
Piotech, Inc. (A Shares)
 
11,461
285,026
Poly Developments & Holdings (A Shares)
 
721,100
884,773
Pop Mart International Group Ltd. (b)
 
473,800
2,027,595
Postal Savings Bank of China Co. Ltd.
 
1,707,500
1,130,017
Postal Savings Bank of China Co. Ltd. (H Shares) (b)
 
8,032,000
4,161,803
Power Construction Corp. of China Ltd. (A Shares)
 
1,037,800
726,171
Qi An Xin Technology Group, Inc. (A Shares) (a)
 
41,704
177,279
Qifu Technology, Inc. ADR
 
122,600
2,242,354
Qinghai Salt Lake Potash Co. Ltd. Class A (a)
 
327,600
748,385
Range Intelligent Computing Technology Group Co. Ltd. (A Shares)
 
87,300
375,778
Risen Energy Co. Ltd. (A Shares)
 
69,500
124,151
Rockchip Electronics Co. Ltd.
 
25,500
201,689
Rongsheng Petrochemical Co. Ltd. (A Shares)
 
610,400
942,807
SAIC Motor Corp. Ltd. (A Shares)
 
465,000
952,151
Sailun Group Co. Ltd. A Shares
 
190,300
434,938
Sanan Optoelectronics Co. Ltd. (A Shares)
 
300,600
517,990
Sangfor Technologies, Inc. (a)
 
25,600
192,851
Sany Heavy Equipment International Holdings Co. Ltd. (c)
 
1,121,000
787,706
Sany Heavy Industry Co. Ltd. (A Shares)
 
511,500
1,149,383
Satellite Chemical Co. Ltd. (A Shares) (a)
 
202,956
539,059
SDIC Capital Co. Ltd.
 
391,100
344,626
SDIC Power Holdings Co. Ltd. (A Shares)
 
449,000
986,023
Seazen Holdings Co. Ltd. (A Shares) (a)
 
137,300
185,994
Seres Group Co. Ltd. (A Shares) (a)
 
90,900
1,133,001
SF Holding Co. Ltd. (A Shares)
 
294,900
1,471,025
SG Micro Corp. (A Shares)
 
28,475
300,748
Shaanxi Coal Industry Co. Ltd. (A Shares)
 
584,100
1,978,230
Shan Xi Hua Yang Group New Energy Co. Ltd.
 
219,700
286,351
Shandong Gold Mining Co. Ltd.:
 
 
 
 (A Shares)
 
348,084
1,376,379
 (H Shares) (b)
 
469,500
1,014,498
Shandong Himile Mechanical Science & Technology Co. Ltd. (A Shares) (a)
 
48,800
267,774
Shandong Hualu Hengsheng Chemical Co. Ltd. (A Shares)
 
128,020
525,484
Shandong Linglong Tyre Co. Ltd. (A Shares)
 
89,700
276,399
Shandong Nanshan Aluminum Co. Ltd. (A Shares)
 
714,200
351,927
Shandong Sun Paper Industry JSC Ltd. (A Shares)
 
170,200
365,417
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)
 
2,497,600
1,693,742
Shanghai Aiko Solar Energy Co. Ltd. (A Shares)
 
111,340
183,523
Shanghai Bairun Investment Holding Group Co. Ltd. (A Shares)
 
63,940
179,519
Shanghai Baosight Software Co. Ltd.
 
606,384
1,295,406
Shanghai Baosight Software Co. Ltd. (A Shares)
 
108,088
610,651
Shanghai Construction Group Co. Ltd. (A Shares)
 
541,200
178,877
Shanghai Electric Group Co. Ltd. (A Shares) (a)
 
770,600
457,388
Shanghai Electric Power Co. Ltd. (A Shares)
 
171,300
216,844
Shanghai Fosun Pharmaceutical (Group) Co. Ltd.:
 
 
 
 (A Shares)
 
123,200
402,197
 (H Shares)
 
507,000
795,921
Shanghai Friendess Electronic Technology Corp. Ltd. (A Shares)
 
8,911
398,111
Shanghai International Airport Co. Ltd. (A Shares) (a)
 
75,700
392,675
Shanghai International Port Group Co. Ltd. (A Shares)
 
425,200
329,353
Shanghai Jinjiang International Hotels Co. Ltd. (A Shares)
 
55,600
221,173
Shanghai Junshi Biosciences Co. Ltd. (A Shares) (a)
 
46,648
193,347
Shanghai Lingang Holdings Corp. Ltd. (A Shares)
 
145,660
212,116
Shanghai M&G Stationery, Inc. (A Shares)
 
56,400
274,741
Shanghai Moons' Electric Co. Ltd. (A Shares) (a)
 
25,600
197,359
Shanghai Pharmaceuticals Holding Co. Ltd.:
 
 
 
 (A Shares)
 
161,900
400,221
 (H Shares)
 
747,900
1,062,811
Shanghai Pudong Development Bank Co. Ltd. (A Shares)
 
1,769,000
1,875,352
Shanghai Putailai New Energy Technology Co. Ltd.
 
130,264
331,350
Shanghai RAAS Blood Products Co. Ltd. (A Shares)
 
404,600
400,141
Shanghai Rural Commercial Bank Co. Ltd. (A Shares)
 
581,400
542,323
Shanghai United Imaging Healthcare Co. Ltd. (A Shares) (a)
 
49,651
907,196
Shanghai Yuyuan Tourist Mart Group Co. Ltd.
 
237,300
193,933
Shanghai Zhangjiang High Ltd. (A Shares) (a)
 
94,300
239,065
Shanxi Coal International Energy Group Co. Ltd. (A Shares) (a)
 
120,700
238,333
Shanxi Lu'an Environmental Energy Development Co. Ltd. (A Shares)
 
180,300
525,724
Shanxi Meijin Energy Co. Ltd. (A Shares) (a)
 
263,500
220,293
Shanxi Taigang Stainless Steel Co. Ltd. (A Shares)
 
348,500
185,473
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares)
 
73,440
2,645,079
Shanxi Xishan Coal & Electricity Power Co. Ltd. (A Shares)
 
342,060
494,954
Shede Spirits Co. Ltd. (A Shares)
 
20,300
203,609
Shenergy Co. Ltd. (A Shares)
 
297,900
349,394
Shengyi Technology Co. Ltd.
 
143,400
382,394
Shennan Circuits Co. Ltd. (A Shares)
 
31,240
400,712
Shenwan Hongyuan Group Co. Ltd. (A Shares)
 
1,357,100
878,236
Shenzhen Capchem Technology Co. Ltd. (A Shares)
 
45,980
213,106
Shenzhen Energy Group Co. Ltd. (A Shares)
 
289,660
288,833
Shenzhen Goodix Technology Co. Ltd. (A Shares) (a)
 
27,900
235,462
Shenzhen Inovance Technology Co. Ltd. (A Shares)
 
80,750
662,228
Shenzhen Kaifa Technology Co. Ltd. (A Shares)
 
95,000
180,277
Shenzhen Kangtai Biological Products Co. Ltd.
 
68,000
189,331
Shenzhen Kedali Industry Co. Ltd.
 
16,400
215,480
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)
 
73,000
3,065,257
Shenzhen New Industries Biomedical Engineering Co. Ltd.
 
47,300
461,027
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) (a)
 
499,200
181,400
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares)
 
67,900
298,294
Shenzhen SC New Energy Technology Corp. (A Shares)
 
21,200
200,462
Shenzhen Sed Industry Co. Ltd. (A Shares)
 
69,300
167,471
Shenzhen Transsion Holdings Co. Ltd. (A Shares)
 
48,593
962,382
Shenzhen YUTO Packaging Technology Co. Ltd. (A Shares)
 
56,700
209,000
Shenzhou International Group Holdings Ltd.
 
830,200
8,160,212
Shijiazhuang Yiling Pharmaceutical Co. Ltd. (A Shares)
 
101,760
264,037
Sichuan Changhong Electric Co. Ltd. (A Shares)
 
281,100
215,192
Sichuan Chuantou Energy Co. Ltd. (A Shares)
 
275,900
633,102
Sichuan Hebang Biotechnology Co. Ltd. (A Shares)
 
539,500
156,196
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares)
 
91,300
427,531
Sichuan Road & Bridge (Group) Co. Ltd. (A Shares)
 
437,700
437,962
Sichuan Swellfun Co. Ltd. (A Shares)
 
29,800
184,796
Sieyuan Electric Co. Ltd. (A Shares)
 
46,900
420,826
Silergy Corp.
 
327,000
4,335,207
Sinolink Securities Co. Ltd. (A Shares)
 
226,700
272,907
Sinoma International Engineering Co. Ltd. (A Shares)
 
160,900
281,431
Sinoma Science & Technology Co. Ltd. (A Shares)
 
102,200
218,580
Sinomine Resource Group Co. Ltd. (A Shares)
 
44,380
217,053
Sinopharm Group Co. Ltd. (H Shares)
 
1,347,200
3,402,168
Sinotruk Hong Kong Ltd.
 
693,000
1,724,676
SKSHU Paint Co. Ltd. (A Shares)
 
32,132
150,397
Smoore International Holdings Ltd. (b)(c)
 
1,848,000
1,609,451
Songcheng Performance Development Co. Ltd. (A Shares)
 
159,380
238,420
Soochow Securities Co. Ltd. (A Shares)
 
304,845
287,039
Southwest Securities Co. Ltd. (A Shares)
 
404,400
220,898
Spring Airlines Co. Ltd. (A Shares) (a)
 
58,800
459,946
StarPower Semiconductor Ltd. (A Shares)
 
10,400
199,006
Sungrow Power Supply Co. Ltd. (A Shares)
 
89,400
1,269,648
Sunny Optical Technology Group Co. Ltd.
 
715,800
3,462,841
Sunresin New Materials Co. Ltd. (A Shares)
 
30,800
198,112
Sunwoda Electronic Co. Ltd. (A Shares)
 
113,400
237,414
SUPCON Technology Co. Ltd. (A Shares)
 
48,086
315,202
Suzhou Dongshan Precision Manufacturing Co. Ltd. (A Shares)
 
104,100
220,071
Suzhou Maxwell Technologies Co. Ltd. (A Shares)
 
16,944
267,504
Suzhou TFC Optical Communication Co. Ltd. (A Shares)
 
23,700
519,265
TAL Education Group ADR (a)
 
442,334
5,325,701
TBEA Co. Ltd. (A Shares)
 
304,770
593,463
TCL Technology Group Corp. (A Shares)
 
1,131,290
743,730
TCL Zhonghuan Renewable Energy Technology Co. Ltd. (A Shares)
 
246,275
353,466
Tencent Holdings Ltd.
 
6,643,700
291,546,818
Tencent Music Entertainment Group ADR (a)
 
754,119
9,464,193
Thunder Software Technology Co. Ltd. (A Shares)
 
28,000
187,635
Tianfeng Securities Co. Ltd. (A Shares) (a)
 
527,400
211,631
Tianhe Chemicals Group Ltd. (a)(d)
 
376,000
0
Tianjin 712 Communication & Broadcasting Co. Ltd.
 
47,000
143,292
Tianma Microelectronics Co. Ltd. (A Shares) (a)
 
149,600
167,083
Tianqi Lithium Corp. (A Shares)
 
89,100
483,228
Tianshan Aluminum Group Co. Ltd.
 
283,500
294,921
Tianshui Huatian Technology Co. Ltd. (A Shares)
 
195,100
219,538
Tingyi (Cayman Islands) Holding Corp.
 
1,982,000
2,187,528
Tongcheng Travel Holdings Ltd.
 
1,244,800
3,276,164
TongFu Microelectronics Co. Ltd. (A Shares)
 
92,200
262,585
Tongkun Group Co. Ltd. (A Shares) (a)
 
146,900
278,699
Tongling Nonferrous Metals Group Co. Ltd. (A Shares)
 
771,900
428,011
Tongwei Co. Ltd. (A Shares)
 
271,200
810,545
Topchoice Medical Corp. (a)
 
19,500
163,286
Topsports International Holdings Ltd. (b)
 
1,868,000
1,297,279
TravelSky Technology Ltd. (H Shares)
 
936,000
1,215,894
Trina Solar Co. Ltd. (A Shares)
 
132,380
387,378
Trip.com Group Ltd. (a)
 
551,462
26,860,257
Tsinghua Tongfang Co. Ltd. (A Shares) (a)
 
204,000
170,207
Tsingtao Brewery Co. Ltd.:
 
 
 
 (A Shares) (a)
 
49,500
558,705
 (H Shares)
 
614,000
4,424,731
Unigroup Guoxin Microelectronics Co. Ltd. (a)
 
51,119
409,507
Unisplendour Corp. Ltd. (A Shares) (a)
 
172,303
493,154
Universal Scientific Industrial Shanghai Co. Ltd. (A Shares)
 
112,100
228,155
Verisilicon Microelectronics Shanghai Co. Ltd. (A Shares) (a)
 
30,452
137,741
Vipshop Holdings Ltd. ADR
 
349,384
5,254,735
Walvax Biotechnology Co. Ltd. (A Shares)
 
97,900
198,289
Wanda Film Holding Co. Ltd. (A Shares) (a)
 
132,600
267,141
Wanhua Chemical Group Co. Ltd. (A Shares)
 
189,200
2,317,950
Want Want China Holdings Ltd.
 
4,755,000
2,712,022
Weichai Power Co. Ltd.:
 
 
 
 (A Shares)
 
403,200
967,331
 (H Shares)
 
1,956,200
3,997,226
Weihai Guangwei Composites Co. Ltd. (A Shares)
 
50,660
181,652
Wens Foodstuffs Group Co. Ltd. (A Shares)
 
400,680
1,052,818
Western Mining Co. Ltd. (A Shares)
 
145,200
400,387
Western Securities Co. Ltd. (A Shares)
 
272,000
277,125
Western Superconducting Technologies Co. Ltd. (A Shares)
 
39,572
216,048
Will Semiconductor Ltd.
 
71,335
996,819
Wingtech Technology Co. Ltd. (A Shares) (a)
 
75,700
327,263
Wintime Energy Group Co. Ltd. (A Shares) (a)
 
1,353,200
251,852
Wuchan Zhongda Group Co. Ltd.
 
316,300
205,695
Wuhan Guide Infrared Co. Ltd. (A Shares)
 
260,069
251,041
Wuliangye Yibin Co. Ltd. (A Shares)
 
233,800
4,835,255
WUS Printed Circuit Kunshan Co. Ltd. (A Shares)
 
116,190
528,429
WuXi AppTec Co. Ltd.
 
151,044
907,651
WuXi AppTec Co. Ltd. (H Shares) (b)
 
354,222
1,594,385
Wuxi Biologics (Cayman), Inc. (a)(b)
 
3,847,500
6,665,166
XCMG Construction Machinery Co. Ltd. (A Shares)
 
712,200
689,253
Xiamen C&D, Inc. (A Shares)
 
183,100
251,007
Xiamen Faratronic Co. Ltd. (A Shares)
 
13,700
186,006
Xiamen Tungsten Co. Ltd. (A Shares)
 
86,500
228,095
Xiaomi Corp. Class B (a)(b)
 
15,443,200
33,665,056
Xinjiang Daqo New Energy Co. Ltd. (A Shares) (a)
 
108,914
367,071
Xinyi Solar Holdings Ltd.
 
4,917,498
3,383,564
XPeng, Inc. Class A (a)(c)
 
1,158,252
4,695,740
Yadea Group Holdings Ltd. (b)
 
1,232,000
2,369,963
Yangzhou Yangjie Electronic Technology Co. Ltd. (A Shares)
 
33,100
172,929
Yankuang Energy Group Co. Ltd.:
 
 
 
 (A Shares)
 
237,150
755,490
 (H Shares)
 
2,278,000
4,941,829
Yantai Jereh Oilfield Services (A Shares)
 
62,400
273,705
Yealink Network Technology Corp. Ltd.
 
76,830
373,786
Yifeng Pharmacy Chain Co. Ltd.
 
61,525
372,155
Yihai Kerry Arawana Holdings Co. Ltd. (A Shares)
 
99,000
428,099
Yintai Gold Co. Ltd. (A Shares)
 
169,180
429,195
Yonghui Superstores Co. Ltd. (A Shares) (a)
 
552,300
184,848
YongXing Special Materials Technology Co. Ltd. (A Shares)
 
32,810
214,251
Yonyou Network Technology Co. Ltd. (A Shares)
 
208,138
332,991
Youngor Fashion Co. Ltd. (A Shares)
 
281,889
303,804
YTO Express Group Co. Ltd. (A Shares)
 
209,500
458,310
Yuexiu Property Co. Ltd.
 
1,616,620
964,831
Yum China Holdings, Inc.
 
408,375
14,909,771
Yunda Holding Co. Ltd. (A Shares)
 
176,390
190,573
Yunnan Aluminium Co. Ltd. (A Shares)
 
211,300
416,960
Yunnan Baiyao Group Co. Ltd. (A Shares)
 
108,200
853,706
Yunnan Botanee Bio-Technology Group Co., Ltd. (A Shares)
 
25,800
202,988
Yunnan Chihong Zinc & Germanium Co. Ltd. (A Shares) (a)
 
310,400
244,709
Yunnan Energy New Material Co. Ltd.
 
59,500
341,101
Yunnan Tin Co. Ltd. (A Shares)
 
100,300
227,445
Yunnan Yuntianhua Co. Ltd. (Series A)
 
111,800
311,696
Yutong Bus Co. Ltd. (a)
 
134,900
476,274
Zai Lab Ltd. (a)(c)
 
946,300
1,520,998
Zangge Mining Co. Ltd. (Series A)
 
96,300
381,610
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares)
 
36,300
1,188,284
Zhaojin Mining Industry Co. Ltd. (H Shares)
 
1,515,000
2,439,803
Zhejiang Century Huatong Group Co. Ltd. (A Shares) (a)
 
453,697
292,397
Zhejiang China Commodities City Group Co. Ltd. (A Shares)
 
333,900
403,045
Zhejiang Chint Electric Co. Ltd. (A Shares)
 
130,900
372,360
Zhejiang Dahua Technology Co. Ltd. (A Shares)
 
198,500
490,136
Zhejiang Dingli Machinery Co. Ltd. (A Shares)
 
30,860
278,827
Zhejiang Expressway Co. Ltd. (H Shares)
 
1,587,920
1,038,231
Zhejiang Huahai Pharmaceutical Co. Ltd. (A Shares)
 
90,220
208,540
Zhejiang Huayou Cobalt Co. Ltd. (A Shares)
 
104,150
407,378
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. (A Shares)
 
79,800
372,401
Zhejiang Juhua Co. Ltd. (A Shares)
 
164,400
536,326
Zhejiang Leapmotor Technology Co. Ltd. (H Shares) (a)(b)(c)
 
504,500
1,733,485
Zhejiang Longsheng Group Co. Ltd. (A Shares)
 
198,300
250,075
Zhejiang NHU Co. Ltd. (A Shares)
 
188,228
498,025
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares)
 
113,700
343,241
Zhejiang Supor Cookware Co. Ltd.
 
32,800
266,114
Zhejiang Weiming Enviroment Protection Co. Ltd. (A Shares)
 
103,790
314,765
Zhejiang Weixing New Building Materials Co. Ltd. (A Shares)
 
97,000
234,836
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) (a)
 
673,200
578,356
Zheshang Securities Co. Ltd.
 
236,100
366,851
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(b)
 
712,800
1,198,875
Zhongji Innolight Co. Ltd. (A Shares)
 
48,400
1,220,022
Zhongjin Gold Co. Ltd. (A Shares)
 
295,300
531,640
Zhongsheng Group Holdings Ltd. Class H
 
838,500
1,529,244
Zhongtai Securities Co. Ltd. (A Shares)
 
424,100
388,867
Zhuzhou CRRC Times Electric Co. Ltd.:
 
 
 
 (A Shares)
 
50,679
332,998
 (H Shares)
 
498,500
1,786,632
Zijin Mining Group Co. Ltd.:
 
 
 
 (A Shares)
 
1,228,500
2,957,734
 (H Shares)
 
5,486,000
11,967,552
Zoomlion Heavy Industry Science and Technology Co. Ltd.:
 
 
 
 (A Shares)
 
160,200
187,770
 (H Shares)
 
420,800
319,473
ZTE Corp.:
 
 
 
 (A Shares)
 
228,300
897,151
 (H Shares)
 
787,880
1,698,158
ZTO Express, Inc. sponsored ADR
 
426,463
8,951,458
TOTAL CHINA
 
 
1,917,074,524
Colombia - 0.1%
 
 
 
Bancolombia SA
 
255,820
2,204,108
Bancolombia SA sponsored ADR
 
3,513
114,945
Interconexion Electrica SA ESP
 
444,816
2,052,299
TOTAL COLOMBIA
 
 
4,371,352
Czech Republic - 0.1%
 
 
 
CEZ A/S
 
162,052
5,981,758
Komercni Banka A/S
 
76,326
2,815,770
MONETA Money Bank A/S (b)
 
333,556
1,345,874
TOTAL CZECH REPUBLIC
 
 
10,143,402
Egypt - 0.1%
 
 
 
Commercial International Bank SAE
 
2,545,477
3,824,865
Eastern Co. SAE
 
1,039,307
477,842
EFG Holding SAE
 
952,425
294,585
TOTAL EGYPT
 
 
4,597,292
Greece - 0.5%
 
 
 
Alpha Bank SA (a)
 
2,243,194
3,812,344
Eurobank Ergasias Services and Holdings SA (a)
 
2,612,154
5,603,258
Ff Group (a)(d)
 
1,035
0
Hellenic Telecommunications Organization SA
 
188,852
2,878,032
Jumbo SA
 
116,121
3,616,112
Motor Oil (HELLAS) Corinth Refineries SA
 
66,742
1,934,527
Mytilineos SA
 
100,437
4,094,519
National Bank of Greece SA (a)
 
780,684
6,298,584
OPAP SA
 
185,760
3,094,574
Piraeus Financial Holdings SA (a)
 
1,068,426
4,280,063
Public Power Corp. of Greece (a)
 
210,960
2,530,534
TOTAL GREECE
 
 
38,142,547
Hong Kong - 0.1%
 
 
 
Orient Overseas International Ltd.
 
132,500
1,932,516
Sino Biopharmaceutical Ltd.
 
10,383,000
3,547,858
TOTAL HONG KONG
 
 
5,480,374
Hungary - 0.3%
 
 
 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
452,540
3,713,819
OTP Bank PLC
 
224,912
11,160,439
Richter Gedeon PLC
 
140,343
3,573,838
TOTAL HUNGARY
 
 
18,448,096
India - 17.7%
 
 
 
ABB India Ltd.
 
53,192
4,163,910
Adani Enterprises Ltd.
 
171,697
6,272,060
Adani Green Energy Ltd. (a)
 
318,096
6,833,509
Adani Ports & Special Economic Zone Ltd.
 
530,236
8,397,629
Adani Power Ltd. (a)
 
774,536
5,663,981
Ambuja Cements Ltd.
 
598,122
4,432,911
APL Apollo Tubes Ltd.
 
167,206
3,113,224
Apollo Hospitals Enterprise Ltd.
 
101,059
7,185,781
Ashok Leyland Ltd.
 
1,474,165
3,393,920
Asian Paints Ltd.
 
385,250
13,248,033
Astral Ltd.
 
134,869
3,412,461
AU Small Finance Bank Ltd. (b)
 
167,869
1,271,528
Aurobindo Pharma Ltd.
 
264,754
3,652,857
Avenue Supermarts Ltd. (a)(b)
 
163,344
9,010,757
Axis Bank Ltd.
 
2,291,645
31,977,902
Bajaj Auto Ltd.
 
67,020
7,152,873
Bajaj Finance Ltd.
 
279,241
23,157,067
Bajaj Finserv Ltd.
 
384,471
7,424,873
Bajaj Holdings & Investment Ltd.
 
26,819
2,604,457
Balkrishna Industries Ltd.
 
77,641
2,255,309
Bandhan Bank Ltd. (b)
 
792,547
1,783,745
Bank of Baroda
 
1,038,488
3,490,733
Berger Paints India Ltd.
 
292,649
1,782,147
Bharat Electronics Ltd.
 
3,669,813
10,259,248
Bharat Forge Ltd.
 
257,115
3,911,199
Bharat Heavy Electricals Ltd.
 
1,048,911
3,527,244
Bharat Petroleum Corp. Ltd.
 
762,321
5,545,513
Bharti Airtel Ltd.
 
2,259,132
35,748,924
Britannia Industries Ltd.
 
108,831
6,218,489
Cg Power & Industrial Soluti
 
613,418
4,060,553
Cholamandalam Investment and Finance Co. Ltd.
 
421,538
6,015,391
Cipla Ltd./India (a)
 
526,916
8,818,219
Coal India Ltd.
 
1,546,976
8,408,433
Colgate-Palmolive Ltd.
 
136,548
4,619,691
Container Corp. of India Ltd.
 
244,696
3,004,721
Cummins India Ltd.
 
139,168
5,447,429
Dabur India Ltd.
 
622,703
3,783,777
Divi's Laboratories Ltd.
 
119,950
5,741,844
DLF Ltd.
 
745,625
7,942,089
Dr. Reddy's Laboratories Ltd.
 
117,236
8,697,331
Eicher Motors Ltd.
 
137,445
7,564,694
GAIL India Ltd.
 
2,310,657
5,770,653
GMR Airports Infrastructure Ltd. (a)
 
2,424,112
2,464,837
Godrej Consumer Products Ltd.
 
410,784
5,993,466
Godrej Properties Ltd. (a)
 
125,628
3,969,522
Grasim Industries Ltd.
 
264,451
7,622,786
Havells India Ltd.
 
251,694
5,007,929
HCL Technologies Ltd.
 
951,467
15,518,761
HDFC Asset Management Co. Ltd. (b)
 
96,458
4,495,492
HDFC Bank Ltd.
 
2,820,652
51,210,137
HDFC Standard Life Insurance Co. Ltd. (b)
 
971,713
6,780,675
Hero Motocorp Ltd.
 
120,423
6,533,745
Hindalco Industries Ltd.
 
1,353,865
10,409,306
Hindustan Aeronautics Ltd.
 
201,454
9,504,233
Hindustan Petroleum Corp. Ltd.
 
569,725
3,378,490
Hindustan Unilever Ltd.
 
825,698
22,045,748
ICICI Bank Ltd.
 
5,212,432
71,801,405
ICICI Lombard General Insurance Co. Ltd. (b)
 
242,196
4,948,584
ICICI Prudential Life Insurance Co. Ltd. (b)
 
361,451
2,473,721
IDFC Bank Ltd. (a)
 
3,476,950
3,411,450
Indian Oil Corp. Ltd.
 
2,835,743
5,724,824
Indian Railway Catering & Tourism Corp. Ltd.
 
240,980
2,991,472
Indraprastha Gas Ltd.
 
316,279
1,773,940
IndusInd Bank Ltd.
 
288,936
5,237,047
Info Edge India Ltd.
 
71,452
5,166,205
Infosys Ltd.
 
3,333,873
56,274,838
InterGlobe Aviation Ltd. (a)(b)
 
174,511
8,319,008
ITC Ltd.
 
3,006,685
15,673,105
Jindal Steel & Power Ltd.
 
358,512
3,980,515
Jio Financial Services Ltd.
 
2,870,601
12,923,068
JSW Steel Ltd.
 
613,897
6,466,146
Jubilant Foodworks Ltd.
 
397,469
2,201,384
Kotak Mahindra Bank Ltd.
 
1,097,662
21,327,425
Larsen & Toubro Ltd.
 
676,272
29,061,906
Ltimindtree Ltd. (b)
 
89,209
5,009,079
Lupin Ltd.
 
228,592
4,499,705
Macrotech Developers Ltd. (b)
 
242,099
3,585,067
Mahindra & Mahindra Ltd.
 
936,439
24,147,539
Marico Ltd.
 
519,630
3,223,777
Maruti Suzuki India Ltd.
 
142,057
21,788,088
Max Healthcare Institute Ltd.
 
780,623
7,842,209
Mphasis BFL Ltd.
 
75,809
2,093,161
MRF Ltd.
 
2,342
3,726,853
Muthoot Finance Ltd.
 
120,922
2,486,613
Nestle India Ltd.
 
338,826
10,167,819
NMDC Ltd.
 
1,029,988
3,124,788
NTPC Ltd.
 
4,381,240
19,035,172
Oil & Natural Gas Corp. Ltd.
 
3,157,885
10,657,218
One97 Communications Ltd. (a)
 
255,067
1,136,534
Page Industries Ltd.
 
6,160
2,563,583
Persistent Systems Ltd.
 
100,412
4,038,225
Petronet LNG Ltd.
 
753,049
2,794,374
PI Industries Ltd.
 
83,788
3,660,919
Pidilite Industries Ltd.
 
153,212
5,586,709
Polycab India Ltd.
 
45,235
3,068,802
Power Finance Corp. Ltd.
 
1,491,107
7,857,764
Power Grid Corp. of India Ltd.
 
4,669,186
16,835,925
Punjab National Bank
 
2,211,239
3,728,215
REC Ltd.
 
1,321,987
8,005,919
Reliance Industries Ltd.
 
3,056,955
107,281,630
Samvardhana Motherson International Ltd.
 
2,381,320
3,728,346
SBI Cards & Payment Services Ltd.
 
286,331
2,492,826
SBI Life Insurance Co. Ltd. (b)
 
452,378
7,780,679
Shree Cement Ltd.
 
9,057
2,650,855
Shriram Finance Ltd.
 
282,886
8,628,429
Siemens Ltd.
 
89,393
6,243,982
Sona Blw Precision Forgings Ltd. (b)
 
412,178
3,080,120
SRF Ltd.
 
148,824
4,660,395
State Bank of India
 
1,792,180
17,698,037
Sun Pharmaceutical Industries Ltd.
 
963,636
17,306,961
Supreme Industries Ltd.
 
63,774
3,861,361
Suzlon Energy Ltd. (a)
 
8,861,728
4,390,060
Tata Communications Ltd.
 
114,460
2,368,317
Tata Consultancy Services Ltd.
 
908,200
41,438,564
Tata Consumer Products Ltd.
 
574,034
7,599,347
Tata Elxsi Ltd.
 
34,391
2,902,607
Tata Motors Ltd.
 
1,668,215
20,111,383
Tata Motors Ltd. Class A
 
459,497
3,746,991
Tata Power Co. Ltd./The
 
1,443,757
7,746,091
Tata Steel Ltd.
 
7,408,681
14,599,717
Tech Mahindra Ltd.
 
539,068
8,118,053
The Indian Hotels Co. Ltd.
 
855,657
5,894,582
Titan Co. Ltd.
 
356,563
15,294,811
Torrent Pharmaceuticals Ltd.
 
101,942
3,219,364
Trent Ltd.
 
182,037
9,606,074
Tube Investments of India Ltd.
 
106,792
4,789,179
Tvs Motor Co. Ltd.
 
238,514
5,871,122
Ultratech Cement Ltd.
 
115,946
13,824,299
Union Bank of India Ltd.
 
1,488,592
2,743,128
United Spirits Ltd.
 
292,133
4,108,467
UPL Ltd.
 
452,226
2,743,788
Varun Beverages Ltd.
 
456,578
8,074,480
Vedanta Ltd.
 
933,158
4,452,381
Wipro Ltd.
 
1,311,386
7,219,910
Yes Bank Ltd. (a)
 
12,995,368
4,063,346
Zomato Ltd. (a)
 
6,122,447
14,126,144
TOTAL INDIA
 
 
1,306,588,162
Indonesia - 1.7%
 
 
 
Amman Mineral Internasional PT
 
6,553,400
3,902,289
PT Adaro Energy Indonesia Tbk
 
14,453,300
2,402,106
PT Aneka Tambang Tbk
 
8,446,900
849,083
PT Astra International Tbk
 
20,324,100
6,413,381
PT Bank Central Asia Tbk
 
55,699,800
33,491,432
PT Bank Mandiri (Persero) Tbk
 
37,485,400
15,844,222
PT Bank Negara Indonesia (Persero) Tbk
 
14,979,800
4,819,557
PT Bank Rakyat Indonesia (Persero) Tbk
 
68,479,185
20,728,894
PT Barito Pacific Tbk
 
28,238,688
1,764,709
PT Charoen Pokphand Indonesia Tbk
 
7,408,800
2,254,100
PT GoTo Gojek Tokopedia Tbk (a)
 
844,407,512
3,247,824
PT Indah Kiat Pulp & Paper Tbk
 
2,472,200
1,422,893
PT Indofood CBP Sukses Makmur Tbk
 
2,341,700
1,565,236
PT Indofood Sukses Makmur Tbk
 
4,408,000
1,692,691
PT Kalbe Farma Tbk
 
21,178,600
1,879,972
PT Merdeka Copper Gold Tbk (a)
 
9,683,796
1,559,635
PT Sarana Menara Nusantara Tbk
 
20,487,400
1,012,227
PT Semen Indonesia (Persero) Tbk
 
3,389,499
972,265
PT Sumber Alfaria Trijaya Tbk
 
18,761,700
3,374,271
PT Telkom Indonesia Persero Tbk
 
49,732,200
9,641,010
PT Unilever Indonesia Tbk
 
7,661,200
1,233,821
PT United Tractors Tbk
 
1,498,300
2,283,553
TOTAL INDONESIA
 
 
122,355,171
Korea (South) - 11.0%
 
 
 
AMOREPACIFIC Corp.
 
29,365
3,569,143
Celltrion Pharm, Inc.
 
18,789
1,293,400
Celltrion, Inc.
 
153,208
20,745,019
CJ CheilJedang Corp.
 
8,313
2,009,322
Cosmo AM&T Co. Ltd. (a)
 
24,291
2,616,046
Coway Co. Ltd.
 
55,577
2,220,539
Db Insurance Co. Ltd.
 
46,207
3,232,112
Doosan Bobcat, Inc.
 
55,366
2,063,508
Doosan Heavy Industries & Construction Co. Ltd. (a)
 
450,216
5,420,862
Ecopro BM Co. Ltd.
 
49,101
8,323,053
Ecopro Co. Ltd. (c)
 
100,260
7,557,373
Ecopro Materials Co. Ltd.
 
13,853
1,144,227
GS Holdings Corp.
 
46,649
1,504,022
Hana Financial Group, Inc.
 
293,546
12,346,174
Hanjin Kal Corp.
 
26,809
1,147,373
Hankook Tire Co. Ltd.
 
74,629
3,157,816
Hanmi Pharm Co. Ltd.
 
7,075
1,607,195
Hanmi Semiconductor Co. Ltd.
 
43,983
4,176,631
Hanon Systems
 
187,576
749,113
Hanwha Aerospace Co. Ltd.
 
35,586
5,390,262
Hanwha Ocean Co. Ltd. (a)
 
76,903
1,765,845
Hanwha Solutions Corp.
 
112,187
2,036,111
HD Hyundai Co. Ltd.
 
43,626
2,106,151
HD Hyundai Heavy Industries Co. Ltd. (a)
 
22,286
2,197,919
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (a)
 
42,640
4,014,647
HLB, Inc.
 
117,793
9,385,321
HMM Co. Ltd.
 
242,146
2,756,873
HYBE Co. Ltd.
 
20,911
3,024,782
Hyundai Engineering & Construction Co. Ltd.
 
78,268
1,988,311
Hyundai Glovis Co. Ltd.
 
18,827
2,457,747
Hyundai Mobis
 
61,124
9,971,850
Hyundai Motor Co. Ltd.
 
138,055
24,763,255
Hyundai Steel Co.
 
87,104
2,016,972
Industrial Bank of Korea
 
280,256
2,809,675
Kakao Corp.
 
312,664
10,828,071
Kakao Pay Corp. (a)
 
26,962
677,580
KakaoBank Corp.
 
167,585
2,997,362
Kangwon Land, Inc.
 
96,640
1,064,897
KB Financial Group, Inc.
 
384,897
20,817,194
Kia Corp.
 
262,394
22,168,472
Korea Aerospace Industries Ltd.
 
73,405
2,725,589
Korea Electric Power Corp. (a)
 
257,825
3,925,004
Korea Investment Holdings Co. Ltd.
 
41,962
2,022,495
Korea Zinc Co. Ltd.
 
8,398
2,789,662
Korean Air Lines Co. Ltd.
 
184,746
2,778,203
KRAFTON, Inc. (a)
 
29,136
5,000,463
KT Corp.
 
64,728
1,613,796
KT&G Corp.
 
100,777
6,475,467
Kum Yang Co. Ltd. (a)
 
34,972
2,339,982
Kumho Petro Chemical Co. Ltd.
 
15,766
1,563,736
L&F Co. Ltd.
 
25,477
2,971,957
LG Chemical Ltd.
 
49,617
14,217,452
LG Corp.
 
94,763
5,391,845
LG Display Co. Ltd. (a)
 
381,126
2,876,687
LG Electronics, Inc.
 
106,804
7,093,459
LG Energy Solution (a)
 
46,991
13,037,189
LG H & H Co. Ltd.
 
9,407
2,826,470
LG Innotek Co. Ltd.
 
14,259
2,260,163
LG Uplus Corp.
 
214,830
1,521,559
Lotte Chemical Corp.
 
19,328
1,489,436
Meritz Financial Holdings Co.
 
102,099
5,821,420
Mirae Asset Securities Co. Ltd.
 
243,092
1,321,163
NAVER Corp.
 
130,457
17,159,049
NCSOFT Corp.
 
14,327
1,805,154
Netmarble Corp. (a)(b)
 
25,890
1,033,724
NH Investment & Securities Co. Ltd.
 
149,842
1,343,097
Orion Corp./Republic of Korea
 
23,818
1,589,530
POSCO
 
72,179
20,778,367
POSCO Chemtech Co. Ltd. (c)
 
31,111
6,241,317
POSCO ICT Co. Ltd.
 
53,429
1,548,334
Posco International Corp.
 
52,992
1,742,865
S-Oil Corp.
 
45,219
2,354,256
Samsung Biologics Co. Ltd. (a)(b)
 
17,866
10,013,610
Samsung C&T Corp.
 
83,856
9,017,154
Samsung E&A Co. Ltd. (a)
 
157,441
2,976,619
Samsung Electro-Mechanics Co. Ltd.
 
56,250
6,256,758
Samsung Electronics Co. Ltd.
 
4,795,276
265,807,065
Samsung Fire & Marine Insurance Co. Ltd.
 
30,919
6,901,093
Samsung Heavy Industries Co. Ltd. (a)
 
662,738
4,477,780
Samsung Life Insurance Co. Ltd.
 
80,324
5,047,279
Samsung SDI Co. Ltd.
 
55,235
17,045,676
Samsung SDS Co. Ltd.
 
38,846
4,450,110
Samsung Securities Co. Ltd.
 
62,761
1,712,078
Shinhan Financial Group Co. Ltd.
 
437,624
14,661,825
SK Biopharmaceuticals Co. Ltd. (a)
 
31,453
1,973,169
SK Bioscience Co. Ltd. (a)
 
26,998
1,133,920
SK Hynix, Inc.
 
548,225
67,464,685
SK IE Technology Co. Ltd. (a)(b)
 
28,636
1,208,624
SK Innovation Co., Ltd. (a)
 
60,638
4,797,033
SK Square Co. Ltd. (a)
 
97,682
5,351,865
SK Telecom Co. Ltd.
 
54,934
2,025,871
SK, Inc.
 
36,747
4,366,607
SKC Co. Ltd.
 
19,011
1,498,377
Woori Financial Group, Inc.
 
604,035
6,172,660
Yuhan Corp.
 
56,558
2,933,765
TOTAL KOREA (SOUTH)
 
 
815,074,738
Kuwait - 0.7%
 
 
 
Agility Global PLC (d)(e)
 
3,184,382
129,114
Boubyan Bank KSC
 
1,457,980
2,785,437
Gulf Bank
 
1,909,083
1,597,611
Kuwait Finance House KSCP
 
9,447,928
22,064,574
Mabanee Co. SAKC
 
691,714
1,767,988
Mobile Telecommunication Co.
 
1,930,907
3,056,382
National Bank of Kuwait
 
7,942,354
22,283,932
TOTAL KUWAIT
 
 
53,685,038
Luxembourg - 0.0%
 
 
 
Reinet Investments SCA
 
137,715
3,217,035
Malaysia - 1.4%
 
 
 
AMMB Holdings Bhd
 
2,332,000
2,049,880
Axiata Group Bhd
 
2,764,541
1,636,969
CelcomDigi Bhd
 
3,533,600
3,067,236
CIMB Group Holdings Bhd
 
6,425,220
8,879,845
Gamuda Bhd
 
1,918,780
2,132,788
Genting Bhd
 
2,140,500
2,023,162
Genting Malaysia Bhd
 
2,980,200
1,643,954
Hong Leong Bank Bhd
 
653,000
2,637,102
IHH Healthcare Bhd
 
2,210,500
2,908,439
Inari Amertron Bhd
 
2,821,900
1,819,403
IOI Corp. Bhd
 
2,524,300
2,148,713
Kuala Lumpur Kepong Bhd
 
488,434
2,359,283
Malayan Banking Bhd
 
5,449,281
11,103,812
Malaysia Airports Holdings Bhd
 
921,103
1,927,783
Maxis Bhd
 
2,358,900
1,811,841
MISC Bhd
 
1,344,500
2,240,301
MR DIY Group M Sdn Bhd (b)
 
3,318,350
1,084,645
Nestle (Malaysia) Bhd
 
70,700
1,882,152
Petronas Chemicals Group Bhd
 
2,811,700
3,989,991
Petronas Dagangan Bhd
 
299,200
1,349,544
Petronas Gas Bhd
 
794,630
2,994,683
PPB Group Bhd
 
642,820
2,117,688
Press Metal Aluminium Holdings
 
3,723,700
4,185,751
Public Bank Bhd
 
14,617,600
12,607,797
QL Resources Bhd
 
1,099,450
1,476,477
RHB Bank Bhd
 
1,506,434
1,734,062
Sime Darby Bhd
 
2,737,349
1,602,563
Sime Darby Plantation Bhd
 
2,083,156
1,945,374
Telekom Malaysia Bhd
 
1,155,993
1,498,155
Tenaga Nasional Bhd
 
2,614,800
6,547,565
YTL Corp. Bhd
 
3,320,400
2,146,792
YTL Power International Bhd
 
2,457,400
2,355,781
TOTAL MALAYSIA
 
 
99,909,531
Mexico - 2.7%
 
 
 
Alfa SA de CV Series A
 
3,144,900
2,313,135
America Movil S.A.B. de CV Series L
 
18,811,100
17,909,843
Arca Continental S.A.B. de CV
 
518,400
5,057,281
Banco del Bajio SA (b)
 
776,500
2,862,907
CEMEX S.A.B. de CV unit (a)
 
15,199,118
12,039,872
Coca-Cola FEMSA S.A.B. de CV unit
 
527,315
5,231,364
Fibra Uno Administracion SA de CV
 
2,906,700
4,172,366
Fomento Economico Mexicano S.A.B. de CV unit
 
1,952,500
22,841,996
Gruma S.A.B. de CV Series B
 
185,690
3,647,082
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B
 
393,500
7,167,221
Grupo Aeroportuario del Sureste S.A.B. de CV Series B
 
180,810
6,210,916
Grupo Aeroportuario Norte S.A.B. de CV
 
287,100
3,178,576
Grupo Bimbo S.A.B. de CV Series A
 
1,327,800
5,563,649
Grupo Carso SA de CV Series A1
 
566,500
4,455,412
Grupo Financiero Banorte S.A.B. de CV Series O
 
2,605,700
25,789,673
Grupo Financiero Inbursa S.A.B. de CV Series O (a)
 
1,840,300
5,099,546
Grupo Mexico SA de CV Series B
 
3,126,707
19,319,758
Industrias Penoles SA de CV (a)
 
199,620
2,896,985
Kimberly-Clark de Mexico SA de CV Series A
 
1,526,800
3,178,243
Operadora de Sites Mexicanos, SA de CV
 
1,281,600
1,442,391
Orbia Advance Corp. S.A.B. de CV
 
1,009,155
1,657,699
Prologis Property Mexico SA
 
785,085
3,096,207
Promotora y Operadora de Infraestructura S.A.B. de CV
 
190,810
1,916,816
Southern Copper Corp. (c)
 
85,389
9,962,335
Wal-Mart de Mexico SA de CV Series V
 
5,259,700
19,625,529
TOTAL MEXICO
 
 
196,636,802
Peru - 0.2%
 
 
 
Compania de Minas Buenaventura SAA
 
69
1,194
Compania de Minas Buenaventura SAA sponsored ADR
 
203,726
3,524,460
Credicorp Ltd.
 
511
84,903
Credicorp Ltd. (United States)
 
67,374
11,157,808
TOTAL PERU
 
 
14,768,365
Philippines - 0.6%
 
 
 
Aboitiz Equity Ventures, Inc.
 
1,692,760
1,233,949
Ayala Corp.
 
280,045
2,979,277
Ayala Land, Inc.
 
6,751,340
3,349,592
Bank of the Philippine Islands (BPI)
 
1,848,279
4,050,075
BDO Unibank, Inc.
 
2,380,453
6,063,078
International Container Terminal Services, Inc.
 
1,020,090
5,839,217
JG Summit Holdings, Inc.
 
2,642,856
1,544,388
Jollibee Food Corp.
 
449,760
1,830,288
Manila Electric Co.
 
282,930
1,794,282
Metropolitan Bank & Trust Co.
 
1,806,397
2,187,570
PLDT, Inc.
 
75,930
1,769,769
SM Investments Corp.
 
245,410
4,032,660
SM Prime Holdings, Inc.
 
10,148,700
4,908,029
Universal Robina Corp.
 
874,430
1,550,923
TOTAL PHILIPPINES
 
 
43,133,097
Poland - 0.9%
 
 
 
Allegro.eu SA (a)(b)
 
584,204
4,898,851
Bank Polska Kasa Opieki SA
 
184,478
7,685,825
Budimex SA
 
12,817
2,172,293
CD Projekt SA (c)
 
65,204
1,904,811
Dino Polska SA (a)(b)
 
49,219
4,730,916
KGHM Polska Miedz SA (Bearer)
 
140,591
4,874,796
LPP SA
 
1,118
4,335,406
mBank SA (a)
 
14,923
2,522,974
Orlen SA
 
582,847
9,546,483
PGE Polska Grupa Energetyczna SA (a)
 
901,169
1,352,509
Powszechna Kasa Oszczednosci Bank SA
 
878,570
13,146,928
Powszechny Zaklad Ubezpieczen SA
 
606,916
7,672,481
Santander Bank Polska SA
 
35,913
4,964,996
TOTAL POLAND
 
 
69,809,269
Qatar - 0.8%
 
 
 
Barwa Real Estate Co.
 
2,149,067
1,658,577
Dukhan Bank
 
1,839,609
1,945,711
Industries Qatar QSC
 
1,518,667
5,109,495
Masraf al Rayan
 
5,602,681
3,865,404
Mesaieed Petrochemical Holding Co.
 
5,676,849
2,992,000
Ooredoo QSC
 
804,039
2,206,083
Qatar Electricity & Water Co.
 
441,740
1,850,188
Qatar Fuel Co.
 
599,020
2,378,970
Qatar Gas Transport Co. Ltd. (Nakilat)
 
2,503,236
2,749,366
Qatar International Islamic Bank QSC
 
987,942
2,729,661
Qatar Islamic Bank
 
1,779,418
8,943,518
Qatar National Bank SAQ
 
4,637,053
17,664,357
The Commercial Bank of Qatar
 
3,251,027
3,708,189
TOTAL QATAR
 
 
57,801,519
Romania - 0.1%
 
 
 
NEPI Rockcastle PLC
 
563,936
3,790,406
Russia - 0.1%
 
 
 
Alrosa Co. Ltd. (a)(d)
 
2,234,923
370,215
Gazprom OAO (a)(d)
 
8,473,436
882,854
Gazprom OAO sponsored ADR (Reg. S) (a)(d)
 
863,533
428,312
Inter Rao Ues JSC (a)(d)
 
31,187,844
171,208
LUKOIL PJSC (a)(d)
 
334,533
103,101
LUKOIL PJSC sponsored ADR (a)(d)
 
15,032
189,403
MMC Norilsk Nickel PJSC (a)(d)
 
4,844,200
320,784
MMC Norilsk Nickel PJSC sponsored ADR (a)(d)
 
59,247
142,193
Moscow Exchange MICEX-RTS OAO (a)(d)
 
1,311,841
251,090
Novatek PJSC GDR (Reg. S) (a)(d)
 
78,382
3,825,042
Novolipetsk Steel OJSC (a)(d)
 
1,258,902
12,034
Novolipetsk Steel OJSC GDR (Reg. S) (a)(d)
 
3,783
7,566
Ozon Holdings PLC ADR (a)(d)
 
40,002
83,446
PhosAgro PJSC:
 
 
 
 GDR (Reg. S) (a)(d)
 
116,446
2,388
 sponsored GDR (Reg. S) (a)(d)
 
749
15
Polyus PJSC (a)(d)
 
26,742
62,617
Polyus PJSC GDR (a)(d)
 
5,226
8,008
Rosneft Oil Co. OJSC (a)(d)
 
857,494
142,790
Rosneft Oil Co. OJSC GDR (Reg. S) (a)(d)
 
150,200
35,515
Sberbank of Russia (a)(d)
 
9,313,306
57,016
Severstal PAO (a)(d)
 
155,372
3,454
Severstal PAO GDR (Reg. S) (a)(d)
 
26,165
618
Surgutneftegas OJSC (a)(d)
 
5,613,549
68,395
Surgutneftegas OJSC sponsored ADR (a)(d)
 
73,333
13,542
Tatneft PAO (a)(d)
 
1,103,564
136,670
United Co. RUSAL International PJSC (a)(d)
 
2,596,470
311,576
VK Co. Ltd. GDR (Reg. S) (a)(d)
 
100,000
1
VTB Bank OJSC (a)(d)
 
2,380,815,800
90,570
VTB Bank OJSC sponsored GDR (Reg. S) (a)(d)
 
221,738
37,021
Yandex NV Class A (a)(d)
 
261,431
971,869
TOTAL RUSSIA
 
 
8,729,313
Saudi Arabia - 4.0%
 
 
 
ACWA Power Co.
 
95,618
10,197,622
Ades Holding Co.
 
340,099
1,811,758
Advanced Petrochemicals Co.
 
127,922
1,456,372
Al Rajhi Bank
 
1,967,979
41,924,365
Alinma Bank
 
1,229,990
10,936,961
Almarai Co. Ltd.
 
251,006
3,801,296
Arab National Bank
 
677,737
5,583,659
Arabian Internet and Communications Services Co. Ltd.
 
24,097
2,235,844
Bank Al-Jazira
 
504,301
2,178,232
Bank Albilad
 
614,987
5,853,740
Banque Saudi Fransi
 
592,857
5,793,262
Bupa Arabia for Cooperative Insurance Co.
 
82,834
5,327,031
Dallah Healthcare Co.
 
34,324
1,491,711
Dar Al Arkan Real Estate Development Co. (a)
 
531,331
1,884,152
Dr Sulaiman Al Habib Medical Services Group Co.
 
87,855
7,275,573
Elm Co.
 
24,098
5,876,401
Etihad Etisalat Co.
 
378,830
5,252,269
Jarir Marketing Co.
 
590,391
2,131,364
Luberef
 
50,839
2,054,923
Mobile Telecommunications Co. Saudi Arabia
 
442,148
1,424,078
Mouwasat Medical Services Co.
 
98,395
3,525,913
Nahdi Medical Co.
 
39,153
1,442,688
Power & Water Utility Co. for Jubail & Yanbu
 
75,295
1,304,905
Riyad Bank
 
1,475,977
10,900,806
Sabic Agriculture-Nutrients Co.
 
234,225
7,231,711
Sahara International Petrochemical Co.
 
360,827
3,299,836
Saudi Arabian Mining Co.
 
1,297,393
17,503,356
Saudi Arabian Oil Co. (b)
 
2,672,833
21,450,507
Saudi Awwal Bank
 
1,010,942
10,997,289
Saudi Basic Industries Corp.
 
903,676
20,359,575
Saudi Electricity Co.
 
836,700
4,153,830
Saudi Industrial Investment Group
 
371,369
2,299,149
Saudi Investment Bank/The
 
491,980
2,214,212
Saudi Kayan Petrochemical Co. (a)
 
738,009
1,843,743
Saudi Research & Marketing Group (a)
 
36,145
2,320,620
Saudi Tadawul Group Holding Co.
 
48,193
3,402,524
Saudi Telecom Co.
 
2,008,122
20,158,320
The Co. for Cooperative Insurance
 
73,797
2,931,732
The Saudi National Bank
 
2,951,968
29,593,664
The Savola Group
 
262,712
3,537,289
Yanbu National Petrochemical Co.
 
276,770
2,859,499
TOTAL SAUDI ARABIA
 
 
297,821,781
South Africa - 2.5%
 
 
 
Absa Group Ltd. (c)
 
853,114
6,578,426
Anglo American Platinum Ltd. (c)
 
66,594
2,319,799
Aspen Pharmacare Holdings Ltd.
 
380,844
4,536,963
Bid Corp. Ltd.
 
336,767
7,675,890
Bidvest Group Ltd./The
 
290,402
3,787,146
Capitec Bank Holdings Ltd.
 
87,430
10,820,591
Clicks Group Ltd.
 
239,030
3,719,019
Discovery Ltd.
 
543,274
3,461,021
Exxaro Resources Ltd.
 
245,526
2,352,405
FirstRand Ltd.
 
5,069,087
17,499,260
Gold Fields Ltd.
 
897,193
14,514,493
Harmony Gold Mining Co. Ltd.
 
560,299
4,850,075
Impala Platinum Holdings Ltd.
 
908,061
4,042,283
Kumba Iron Ore Ltd. (c)
 
64,688
1,585,706
MTN Group Ltd.
 
1,702,736
8,160,886
Naspers Ltd. Class N
 
183,930
35,200,087
Nedbank Group Ltd.
 
441,088
5,363,264
Northam Platinum Holdings Ltd.
 
358,084
2,372,550
Old Mutual Ltd.
 
4,810,308
2,826,286
OUTsurance Group Ltd.
 
846,765
1,820,389
Pepkor Holdings Ltd. (b)
 
2,025,298
1,910,561
Remgro Ltd.
 
504,818
3,289,282
Sanlam Ltd.
 
1,769,489
6,400,918
Sasol Ltd. (c)
 
577,124
4,054,477
Shoprite Holdings Ltd.
 
504,677
6,733,560
Sibanye-Stillwater Ltd.
 
2,842,187
3,243,931
Standard Bank Group Ltd. (c)
 
1,346,093
12,640,843
Vodacom Group Ltd.
 
625,869
2,995,009
Woolworths Holdings Ltd. (c)
 
943,084
2,995,877
TOTAL SOUTH AFRICA
 
 
187,750,997
Taiwan - 16.5%
 
 
 
Accton Technology Corp.
 
506,000
7,076,154
Acer, Inc.
 
2,906,994
3,992,777
Advantech Co. Ltd.
 
474,100
5,504,651
Alchip Technologies Ltd.
 
75,000
7,061,051
ASE Technology Holding Co. Ltd.
 
3,078,927
13,826,225
Asia Cement Corp.
 
2,314,153
3,098,240
ASUSTeK Computer, Inc.
 
708,000
9,267,323
AUO Corp.
 
6,570,400
3,667,372
Catcher Technology Co. Ltd.
 
581,000
3,873,995
Cathay Financial Holding Co. Ltd.
 
9,574,410
14,779,107
Chailease Holding Co. Ltd.
 
1,538,944
8,102,363
Chang Hwa Commercial Bank
 
5,451,011
3,042,626
Cheng Shin Rubber Industry Co. Ltd.
 
1,952,937
2,814,502
China Airlines Ltd.
 
2,914,000
1,862,804
China Development Financial Ho (a)
 
16,057,648
6,700,867
China Steel Corp.
 
11,850,204
9,011,693
Chunghwa Telecom Co. Ltd.
 
3,816,000
14,478,200
Compal Electronics, Inc.
 
4,204,000
4,577,398
CTBC Financial Holding Co. Ltd.
 
17,732,826
18,475,182
Delta Electronics, Inc.
 
1,955,381
19,115,575
E Ink Holdings, Inc.
 
859,000
5,482,014
E.SUN Financial Holdings Co. Ltd.
 
14,156,270
11,874,396
ECLAT Textile Co. Ltd.
 
177,613
2,789,620
eMemory Technology, Inc.
 
64,000
4,293,954
EVA Airways Corp.
 
2,710,000
2,941,174
Evergreen Marine Corp. (Taiwan)
 
1,019,363
5,912,532
Far Eastern New Century Corp.
 
2,955,705
2,943,199
Far EasTone Telecommunications Co. Ltd.
 
1,774,000
4,392,428
Feng Tay Enterprise Co. Ltd.
 
545,408
2,707,014
First Financial Holding Co. Ltd.
 
10,940,760
9,155,579
Formosa Chemicals & Fibre Corp.
 
3,531,760
5,992,056
Formosa Petrochemical Corp.
 
1,147,000
2,530,182
Formosa Plastics Corp.
 
3,834,520
8,041,761
Fubon Financial Holding Co. Ltd.
 
7,841,356
16,559,040
Gigabyte Technology Co. Ltd.
 
511,000
4,600,208
Global Unichip Corp.
 
94,000
3,897,023
GlobalWafers Co. Ltd.
 
219,000
3,473,537
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
12,526,869
59,526,257
Hotai Motor Co. Ltd.
 
307,760
5,829,753
Hua Nan Financial Holdings Co. Ltd.
 
8,904,032
6,438,818
Innolux Corp.
 
8,660,133
3,759,602
Inventec Corp.
 
2,700,865
4,325,072
Largan Precision Co. Ltd.
 
101,000
6,720,483
Lite-On Technology Corp.
 
2,007,279
6,064,791
MediaTek, Inc.
 
1,526,292
45,937,683
Mega Financial Holding Co. Ltd.
 
11,569,012
14,151,597
Micro-Star International Co. Ltd.
 
721,000
3,501,944
Nan Ya Plastics Corp.
 
4,777,860
8,281,547
Nan Ya Printed Circuit Board Corp.
 
227,000
1,290,230
Nanya Technology Corp.
 
1,245,000
2,508,494
Nien Made Enterprise Co. Ltd.
 
176,000
2,053,142
Novatek Microelectronics Corp.
 
581,000
10,958,603
Pegatron Corp.
 
2,007,000
5,975,083
PharmaEssentia Corp. (a)
 
239,000
2,145,140
Pou Chen Corp.
 
2,220,000
2,452,883
Powerchip Semiconductor Manufacturing Corp.
 
3,066,294
2,138,539
President Chain Store Corp.
 
573,000
4,810,150
Quanta Computer, Inc.
 
2,716,000
21,277,928
Realtek Semiconductor Corp.
 
489,401
7,706,652
Ruentex Development Co. Ltd.
 
1,570,555
1,844,609
Shin Kong Financial Holding Co. Ltd. (a)
 
13,218,127
3,486,793
Sinopac Financial Holdings Co.
 
10,563,435
7,094,079
Synnex Technology International Corp.
 
1,255,500
3,063,303
Taishin Financial Holdings Co. Ltd.
 
11,274,689
6,196,470
Taiwan Business Bank
 
6,192,696
3,209,463
Taiwan Cement Corp.
 
6,822,730
6,694,472
Taiwan Cooperative Financial Holding Co. Ltd.
 
10,338,868
8,293,832
Taiwan High Speed Rail Corp.
 
1,977,000
1,809,329
Taiwan Mobile Co. Ltd.
 
1,830,900
5,833,129
Taiwan Semiconductor Manufacturing Co. Ltd.
 
24,735,000
591,196,057
The Shanghai Commercial & Savings Bank Ltd.
 
3,863,609
5,492,817
Uni-President Enterprises Corp.
 
4,849,983
11,355,928
Unimicron Technology Corp.
 
1,378,000
7,606,826
United Microelectronics Corp.
 
11,322,000
17,364,451
Vanguard International Semiconductor Corp.
 
906,000
2,369,949
Voltronic Power Technology Corp.
 
66,000
3,117,385
Walsin Lihwa Corp.
 
2,833,526
3,194,956
Wan Hai Lines Ltd.
 
704,950
1,093,028
Winbond Electronics Corp.
 
3,148,341
2,492,388
Wistron Corp.
 
2,620,000
8,955,090
Wiwynn Corp.
 
96,756
6,870,895
WPG Holding Co. Ltd.
 
1,600,200
4,314,178
Yageo Corp.
 
339,845
6,470,849
Yang Ming Marine Transport Corp.
 
1,753,000
2,797,689
Yuanta Financial Holding Co. Ltd.
 
10,192,750
9,544,172
Zhen Ding Technology Holding Ltd.
 
666,000
2,353,163
TOTAL TAIWAN
 
 
1,219,883,513
Thailand - 1.5%
 
 
 
Advanced Info Service PCL (For. Reg.)
 
1,194,500
6,329,356
Airports of Thailand PCL (For. Reg.)
 
4,302,900
7,534,331
Asset World Corp. PCL:
 
 
 
 (For. Reg.)
 
9,074,800
1,068,403
 NVDR
 
100
12
Bangkok Dusit Medical Services PCL (For. Reg.)
 
11,169,900
8,698,900
Bangkok Expressway and Metro PCL (For. Reg.)
 
7,671,400
1,707,914
BTS Group Holdings PCL (For. Reg.)
 
7,931,700
1,344,547
Bumrungrad Hospital PCL:
 
 
 
 (For. Reg.)
 
576,800
3,796,779
 NVDR
 
21,800
143,498
Central Pattana PCL (For. Reg.)
 
2,027,700
3,448,683
Central Retail Corp. PCL (For. Reg.)
 
1,539,616
1,420,250
Charoen Pokphand Foods PCL (For. Reg.)
 
3,800,620
2,021,584
CP ALL PCL (For. Reg.)
 
5,862,800
9,036,650
CP Axtra PCL:
 
 
 
 (For. Reg.)
 
3,997,700
3,477,746
 NVDR
 
12,800
11,135
Delta Electronics PCL (For. Reg.)
 
3,131,300
5,824,665
Energy Absolute PCL (For. Reg.)
 
1,685,200
1,381,156
Global Power Synergy Public Co. Ltd. (For. Reg.)
 
707,600
925,189
Gulf Energy Development PCL (For. Reg.)
 
2,637,700
2,841,567
Home Product Center PCL (For. Reg.)
 
5,941,706
1,654,089
Indorama Ventures PCL (For. Reg.)
 
1,691,300
1,082,570
Intouch Holdings PCL (For. Reg.)
 
985,300
1,769,897
Kasikornbank PCL (For. Reg.)
 
594,800
2,082,307
Krung Thai Bank PCL (For. Reg.)
 
3,508,370
1,582,429
Krungthai Card PCL (For. Reg.)
 
1,035,300
1,190,486
Land & House PCL (For. Reg.)
 
8,319,200
1,665,287
Minor International PCL (For. Reg.)
 
3,370,632
2,980,294
Muangthai Leasing PCL (For. Reg.)
 
744,800
903,953
PTT Exploration and Production PCL (For. Reg.)
 
1,395,239
5,820,992
PTT Global Chemical PCL (For. Reg.)
 
2,263,739
2,226,766
PTT Oil & Retail Business PCL:
 
 
 
 (For. Reg.)
 
1,568,800
785,579
 NVDR
 
1,490,200
746,220
PTT PCL (For. Reg.)
 
10,038,300
9,072,962
SCB X PCL (For. Reg.)
 
845,300
2,414,156
SCG Packaging PCL (For. Reg.)
 
721,200
626,161
Siam Cement PCL (For. Reg.)
 
780,350
5,213,768
Thai Oil PCL (For. Reg.)
 
1,233,714
1,792,748
TMBThanachart Bank PCL:
 
 
 
 (For. Reg.)
 
24,275,000
1,179,701
 NVDR
 
101,100
4,913
True Corp. PCL (a)
 
793,400
163,168
True Corp. PCL (a)
 
10,722,979
2,205,258
TOTAL THAILAND
 
 
108,176,069
Turkey - 0.8%
 
 
 
Akbank TAS
 
3,132,812
5,750,764
Aselsan A/S
 
1,373,588
2,576,571
Bim Birlesik Magazalar A/S JSC
 
457,265
5,464,095
Coca-Cola Icecek Sanayi A/S
 
76,628
1,715,398
Eregli Demir ve Celik Fabrikalari T.A.S.
 
1,405,874
1,869,217
Ford Otomotiv Sanayi A/S
 
70,469
2,423,944
Haci Omer Sabanci Holding A/S
 
1,024,427
2,919,591
Koc Holding A/S
 
763,915
5,333,164
Pegasus Hava Tasimaciligi A/S (a)
 
46,182
1,474,459
Sasa Polyester Sanayi A/S
 
1,335,863
1,702,711
Tofas Turk Otomobil Fabrikasi A/S
 
125,518
1,066,775
Turk Hava Yollari AO (a)
 
554,148
5,578,054
Turkcell Iletisim Hizmet A/S
 
1,214,988
3,031,256
Turkiye Is Bankasi A/S Series C
 
8,878,910
3,758,689
Turkiye Petrol Rafinerileri A/S
 
967,353
5,848,399
Turkiye Sise ve Cam Fabrikalari A/S
 
1,384,111
2,153,976
Yapi ve Kredi Bankasi A/S
 
3,392,755
3,381,624
TOTAL TURKEY
 
 
56,048,687
United Arab Emirates - 1.1%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
2,939,975
6,683,762
Abu Dhabi Islamic Bank
 
1,458,753
4,432,379
Abu Dhabi National Oil Co. for Distribution PJSC
 
3,137,564
2,981,322
Aldar Properties PJSC
 
3,868,339
5,750,533
Americana Restaurants International PLC
 
2,537,252
2,300,376
Dubai Islamic Bank Pakistan Ltd.
 
2,908,193
4,402,394
Emaar Properties PJSC
 
6,656,114
14,878,351
Emirates NBD Bank PJSC
 
1,902,735
8,806,800
Emirates Telecommunications Corp.
 
3,492,800
16,166,408
First Abu Dhabi Bank PJSC
 
4,437,040
15,076,441
Multiply Group (a)
 
3,935,977
2,464,741
TOTAL UNITED ARAB EMIRATES
 
 
83,943,507
United Kingdom - 0.1%
 
 
 
AngloGold Ashanti PLC
 
421,398
9,691,565
Pepco Group NV (a)
 
173,499
825,066
TOTAL UNITED KINGDOM
 
 
10,516,631
United States of America - 0.1%
 
 
 
JBS SA
 
779,500
3,518,754
Legend Biotech Corp. ADR (a)
 
72,837
3,185,890
Parade Technologies Ltd.
 
77,000
1,744,991
TOTAL UNITED STATES OF AMERICA
 
 
8,449,635
 
TOTAL COMMON STOCKS
 (Cost $6,793,106,804)
 
 
 
7,044,419,005
 
 
 
 
Nonconvertible Preferred Stocks - 2.2%
 
 
Shares
Value ($)
 
Brazil - 1.4%
 
 
 
Banco Bradesco SA (PN)
 
5,333,704
14,380,437
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)
 
269,706
2,158,645
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
1,817,374
4,445,262
Companhia Paranaense de Energia-COPEL (PN-B)
 
1,096,000
1,918,623
Gerdau SA
 
1,393,770
4,901,252
Itau Unibanco Holding SA
 
4,865,531
29,384,711
Itausa-Investimentos Itau SA (PN)
 
5,445,347
10,025,328
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)
 
4,779,400
38,676,268
TOTAL BRAZIL
 
 
105,890,526
Chile - 0.1%
 
 
 
Sociedad Quimica y Minera de Chile SA (PN-B)
 
143,401
6,549,798
Colombia - 0.1%
 
 
 
Bancolombia SA (PN)
 
439,949
3,599,889
Korea (South) - 0.6%
 
 
 
Hyundai Motor Co. Ltd.
 
23,001
2,609,958
Hyundai Motor Co. Ltd. Series 2
 
36,268
4,132,662
LG Chemical Ltd.
 
7,718
1,477,104
LG H & H Co. Ltd.
 
4
538
Samsung Electronics Co. Ltd.
 
826,234
38,469,794
TOTAL KOREA (SOUTH)
 
 
46,690,056
Russia - 0.0%
 
 
 
Surgutneftegas OJSC (a)(d)
 
5,794,540
100,382
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $156,018,432)
 
 
 
162,830,651
 
 
 
 
Nonconvertible Bonds - 0.0%
 
 
Principal
Amount (f)
 
Value ($)
 
India - 0.0%
 
 
 
NTPC Ltd. 8.49% 3/25/25
  (Cost $52,909)
INR
264,162
16,443
 
 
 
 
Government Obligations - 0.2%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.2%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $14,952,008)
 
15,000,000
14,951,600
 
 
 
 
Money Market Funds - 3.8%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
210,639,001
210,681,129
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
70,040,715
70,047,719
 
TOTAL MONEY MARKET FUNDS
 (Cost $280,728,848)
 
 
280,728,848
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 101.6%
 (Cost $7,244,859,001)
 
 
 
7,502,946,547
NET OTHER ASSETS (LIABILITIES) - (1.6)%  
(114,862,241)
NET ASSETS - 100.0%
7,388,084,306
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE MSCI Emerging Markets Index Contracts (United States)
3,184
Jun 2024
165,886,400
589,901
589,901
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 2.2%
 
 
Currency Abbreviations
         INR
-
Indian rupee
 
Legend
 
(a)
Non-income producing
 
(b)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $326,912,871 or 4.4% of net assets.
 
(c)
Security or a portion of the security is on loan at period end.
 
(d)
Level 3 security
 
(e)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $6,194,946.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
205,361,646
568,511,472
563,191,568
4,983,941
(421)
-
210,681,129
0.4%
Fidelity Securities Lending Cash Central Fund 5.39%
83,815,387
171,127,661
184,895,329
441,005
-
-
70,047,719
0.3%
Total
289,177,033
739,639,133
748,086,897
5,424,946
(421)
-
280,728,848
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
650,521,558
86,049,925
563,499,763
971,870
Consumer Discretionary
925,403,097
153,739,289
771,580,362
83,446
Consumer Staples
402,332,204
117,194,893
285,137,310
1
Energy
397,114,796
137,257,590
253,931,200
5,926,006
Financials
1,609,985,931
509,442,151
1,099,898,048
645,732
Health Care
244,890,069
27,595,622
217,294,447
-
Industrials
501,473,024
104,347,759
396,996,151
129,114
Information Technology
1,628,019,442
11,070,119
1,616,949,323
-
Materials
528,023,349
182,649,288
344,132,593
1,241,468
Real Estate
112,252,290
43,954,184
68,298,106
-
Utilities
207,233,896
68,402,801
138,659,885
171,210
 Corporate Bonds
16,443
-
16,443
-
 Government Obligations
14,951,600
-
14,951,600
-
  Money Market Funds
280,728,848
280,728,848
-
-
 Total Investments in Securities:
7,502,946,547
1,722,432,469
5,771,345,231
9,168,847
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
589,901
589,901
-
-
  Total Assets
589,901
589,901
-
-
 Total Derivative Instruments:
589,901
589,901
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
589,901
0
Total Equity Risk
589,901
0
Total Value of Derivatives
589,901
0
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity® Emerging Markets Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $65,863,592) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $6,964,130,153)
$
7,222,217,699
 
 
Fidelity Central Funds (cost $280,728,848)
280,728,848
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $7,244,859,001)
 
 
$
7,502,946,547
Foreign currency held at value (cost $13,365,004)
 
 
12,860,161
Receivable for investments sold
 
 
1,437
Receivable for fund shares sold
 
 
19,979,434
Dividends receivable
 
 
10,915,546
Distributions receivable from Fidelity Central Funds
 
 
877,251
Other receivables
 
 
85,158
  Total assets
 
 
7,547,665,534
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
129,113
 
 
Payable for fund shares redeemed
28,895,653
 
 
Accrued management fee
459,421
 
 
Payable for daily variation margin on futures contracts
2,615,500
 
 
Deferred taxes
57,437,304
 
 
Collateral on securities loaned
70,044,237
 
 
  Total liabilities
 
 
 
159,581,228
Net Assets  
 
 
$
7,388,084,306
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
8,026,656,307
Total accumulated earnings (loss)
 
 
 
(638,572,001)
Net Assets
 
 
$
7,388,084,306
Net Asset Value, offering price and redemption price per share ($7,388,084,306 ÷ 720,107,324 shares)
 
 
$
10.26
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
78,136,395
Interest  
 
 
402,015
Income from Fidelity Central Funds (including $441,005 from security lending)
 
 
5,424,946
 Income before foreign taxes withheld
 
 
$
83,963,356
Less foreign taxes withheld
 
 
(8,246,665)
 Total income
 
 
 
75,716,691
Expenses
 
 
 
 
Management fee
$
2,638,121
 
 
Independent trustees' fees and expenses
10,040
 
 
 Total expenses before reductions
 
2,648,161
 
 
 Expense reductions
 
(44,144)
 
 
 Total expenses after reductions
 
 
 
2,604,017
Net Investment income (loss)
 
 
 
73,112,674
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $157,745)
 
(89,506,145)
 
 
   Fidelity Central Funds
 
(421)
 
 
 Foreign currency transactions
 
(1,172,650)
 
 
 Futures contracts
 
13,088,773
 
 
Total net realized gain (loss)
 
 
 
(77,590,443)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $32,402,784)  
 
884,865,888
 
 
 Assets and liabilities in foreign currencies
 
(164,149)
 
 
 Futures contracts
 
10,543,010
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
895,244,749
Net gain (loss)
 
 
 
817,654,306
Net increase (decrease) in net assets resulting from operations
 
 
$
890,766,980
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
73,112,674
$
185,781,595
Net realized gain (loss)
 
(77,590,443)
 
 
(206,660,418)
 
Change in net unrealized appreciation (depreciation)
 
895,244,749
 
556,026,733
 
Net increase (decrease) in net assets resulting from operations
 
890,766,980
 
 
535,147,910
 
Distributions to shareholders
 
(186,938,129)
 
 
(144,831,374)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,250,958,341
 
2,426,882,664
  Reinvestment of distributions
 
145,618,506
 
 
115,318,941
 
Cost of shares redeemed
 
(1,023,708,319)
 
(1,855,775,506)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
372,868,528
 
 
686,426,099
 
Total increase (decrease) in net assets
 
1,076,697,379
 
 
1,076,742,635
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
6,311,386,927
 
5,234,644,292
 
End of period
$
7,388,084,306
$
6,311,386,927
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
125,883,567
 
248,751,213
  Issued in reinvestment of distributions
 
14,859,031
 
 
12,281,037
 
Redeemed
 
(102,809,761)
 
(190,452,525)
Net increase (decrease)
 
37,932,837
 
70,579,725
 
 
 
 
 
 
Financial Highlights
 
Fidelity® Emerging Markets Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
9.25
$
8.56
$
12.64
$
11.07
$
10.48
$
9.62
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.10
 
.29
 
.32
 
.28
 
.22
 
.35 C
     Net realized and unrealized gain (loss)
 
1.18
 
.63
 
(4.14)
 
1.48
 
.65
 
.72
  Total from investment operations
 
1.28  
 
.92  
 
(3.82)  
 
1.76  
 
.87
 
1.07
  Distributions from net investment income
 
(.27)
 
(.23)
 
(.26)
 
(.19)
 
(.28)
 
(.21)
     Total distributions
 
(.27)
 
(.23)
 
(.26)
 
(.19)
 
(.28)
 
(.21)
  Net asset value, end of period
$
10.26
$
9.25
$
8.56
$
12.64
$
11.07
$
10.48
 Total Return D,E
 
13.96
%
 
 
10.74%
 
(30.81)%
 
15.95%
 
8.54%
 
11.33%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.07% H,I
 
.08%
 
.08%
 
.07% H
 
.08%
 
.08%
    Expenses net of fee waivers, if any
 
.07
% H,I
 
 
.08%
 
.08%
 
.07% H
 
.08%
 
.08%
    Expenses net of all reductions
 
.07% H,I
 
.07%
 
.07%
 
.07% H
 
.07%
 
.08%
    Net investment income (loss)
 
2.07% I
 
2.93%
 
2.97%
 
2.17%
 
2.20%
 
3.40% C
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
7,388,084
$
6,311,387
$
5,234,644
$
6,441,516
$
3,400,765
$
2,938,021
    Portfolio turnover rate J
 
2
% I
 
 
7%
 
8%
 
5%
 
10%
 
3%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CNet investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.66%.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HThe size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
 
IAnnualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
 
Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
2.3
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
1.6
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
1.4
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
1.1
 
Nestle SA (Reg. S)  (United States of America, Food Products)
1.0
 
Samsung Electronics Co. Ltd.  (Korea (South), Technology Hardware, Storage & Peripherals)
1.0
 
Toyota Motor Corp.  (Japan, Automobiles)
0.9
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
0.9
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
0.9
 
LVMH Moet Hennessy Louis Vuitton SE  (France, Textiles, Apparel & Luxury Goods)
0.9
 
 
12.0
 
 
Market Sectors (% of Fund's net assets)
 
Financials
22.1
 
Industrials
13.2
 
Information Technology
12.2
 
Consumer Discretionary
11.1
 
Health Care
9.5
 
Materials
7.3
 
Consumer Staples
7.3
 
Energy
5.8
 
Communication Services
5.0
 
Utilities
2.4
 
Real Estate
1.6
 
 
Asset Allocation (% of Fund's net assets)
Futures - 2.7%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
Fidelity® Global ex U.S. Index Fund
Common Stocks - 96.4%
 
 
Shares
Value ($)
 
Australia - 4.6%
 
 
 
Ampol Ltd.
 
90,375
2,134,097
ANZ Group Holdings Ltd.
 
1,131,326
20,413,565
APA Group unit
 
483,028
2,577,669
Aristocrat Leisure Ltd.
 
219,623
5,604,776
ASX Ltd.
 
73,251
2,992,314
Aurizon Holdings Ltd.
 
694,887
1,706,817
BHP Group Ltd.
 
1,910,818
52,406,316
BlueScope Steel Ltd.
 
170,556
2,489,337
Brambles Ltd.
 
522,019
4,910,974
CAR Group Ltd.
 
134,610
2,918,818
Cochlear Ltd.
 
24,699
5,152,408
Coles Group Ltd.
 
502,504
5,240,724
Commonwealth Bank of Australia
 
630,425
46,190,943
Computershare Ltd.
 
204,468
3,592,169
DEXUS Property Group unit
 
410,432
1,864,269
EBOS Group Ltd.
 
57,285
1,180,473
Endeavour Group Ltd.
 
532,162
1,830,055
Fortescue Ltd.
 
639,725
10,603,088
Glencore PLC
 
3,915,859
22,784,678
Goodman Group unit
 
641,808
12,964,285
IDP Education Ltd. (a)
 
97,993
1,021,763
Insurance Australia Group Ltd.
 
919,472
3,809,351
Macquarie Group Ltd.
 
137,658
16,482,965
Medibank Private Ltd.
 
1,048,225
2,402,385
Mineral Resources Ltd.
 
66,399
3,012,014
Mirvac Group unit
 
1,503,224
1,969,628
National Australia Bank Ltd.
 
1,173,383
25,436,046
Northern Star Resources Ltd.
 
433,123
4,105,457
Orica Ltd.
 
187,801
2,174,498
Origin Energy Ltd.
 
648,392
4,092,273
Pilbara Minerals Ltd. (a)
 
1,077,050
2,742,065
Qantas Airways Ltd. (b)
 
310,209
1,170,389
QBE Insurance Group Ltd.
 
561,910
6,427,671
Ramsay Health Care Ltd.
 
70,157
2,351,678
REA Group Ltd.
 
19,882
2,279,035
Reece Ltd.
 
82,841
1,469,571
Rio Tinto Ltd.
 
140,100
11,659,730
Rio Tinto PLC
 
424,972
28,753,936
Santos Ltd.
 
1,219,822
5,986,115
Scentre Group unit
 
1,969,243
3,987,817
SEEK Ltd.
 
134,023
2,070,365
Seven Group Holdings Ltd.
 
62,319
1,514,296
Sonic Healthcare Ltd.
 
172,860
2,970,716
South32 Ltd.
 
1,691,051
3,858,101
Stockland Corp. Ltd. unit
 
908,937
2,575,125
Suncorp Group Ltd.
 
477,916
5,104,342
Telstra Group Ltd.
 
1,516,442
3,582,764
The GPT Group
 
710,641
1,911,221
The Lottery Corp. Ltd.
 
841,860
2,626,176
Transurban Group unit
 
1,167,684
9,374,705
Treasury Wine Estates Ltd.
 
303,870
2,356,576
Vicinity Centres unit
 
1,431,400
1,752,848
Washington H. Soul Pattinson & Co. Ltd.
 
87,781
1,837,045
Wesfarmers Ltd.
 
427,075
18,295,561
Westpac Banking Corp.
 
1,318,151
21,889,669
WiseTech Global Ltd.
 
62,812
3,700,415
Woodside Energy Group Ltd.
 
716,501
12,837,554
Woolworths Group Ltd.
 
458,086
9,398,606
TOTAL AUSTRALIA
 
 
448,548,247
Austria - 0.2%
 
 
 
Erste Group Bank AG
 
129,300
6,053,576
Mondi PLC
 
10,509
200,389
Mondi PLC
 
155,882
2,958,744
OMV AG
 
56,132
2,676,514
Verbund AG
 
25,441
1,943,985
Voestalpine AG
 
42,836
1,148,350
TOTAL AUSTRIA
 
 
14,981,558
Belgium - 0.5%
 
 
 
Ageas
 
60,555
2,787,892
Anheuser-Busch InBev SA NV
 
327,734
19,589,904
D'ieteren Group
 
7,918
1,717,058
Elia Group SA/NV
 
10,902
1,051,187
Groupe Bruxelles Lambert SA
 
33,349
2,485,965
KBC Group NV
 
94,030
7,014,382
Lotus Bakeries SA
 
151
1,519,618
Sofina SA
 
5,698
1,342,664
Syensqo SA
 
27,985
2,603,981
UCB SA
 
47,946
6,372,971
Umicore SA
 
77,608
1,727,693
Warehouses de Pauw
 
64,820
1,725,247
Warehouses de Pauw rights (b)(c)
 
64,820
77,477
TOTAL BELGIUM
 
 
50,016,039
Brazil - 1.1%
 
 
 
Ambev SA
 
1,772,500
4,147,417
Atacadao SA
 
226,700
487,663
B3 SA - Brasil Bolsa Balcao
 
2,154,698
4,477,370
Banco Bradesco SA
 
603,015
1,435,363
Banco BTG Pactual SA unit
 
442,900
2,848,835
Banco do Brasil SA
 
639,800
3,378,523
Banco Santander SA (Brasil) unit
 
141,300
786,421
BB Seguridade Participacoes SA
 
262,600
1,628,417
Caixa Seguridade Participacoes
 
231,600
698,466
CCR SA
 
373,000
885,701
Centrais Eletricas Brasileiras SA (Electrobras)
 
450,480
3,284,515
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
 
129,000
2,007,815
Companhia Siderurgica Nacional SA (CSN)
 
253,300
679,031
Cosan SA
 
463,164
1,293,356
CPFL Energia SA (b)
 
89,600
550,445
Energisa SA unit
 
96,600
839,013
Eneva SA (b)
 
227,200
541,682
ENGIE Brasil Energia SA
 
76,350
601,378
Equatorial Energia SA
 
395,147
2,327,841
Hapvida Participacoes e Investimentos SA (b)(d)
 
1,818,155
1,292,029
Hypera SA (b)
 
139,900
795,333
Klabin SA unit
 
279,300
1,239,277
Localiza Rent a Car SA
 
350,082
3,305,573
Lojas Renner SA
 
373,122
1,101,560
Magazine Luiza SA (b)
 
1,227,930
321,609
Natura & Co. Holding SA
 
328,603
1,049,864
Petroleo Brasileiro SA - Petrobras (ON)
 
1,376,609
11,733,758
PRIO SA
 
306,500
2,833,263
Raia Drogasil SA
 
478,364
2,356,536
Rede D'Oregon Sao Luiz SA (d)
 
209,192
1,047,451
Rumo SA
 
492,800
1,913,270
Sendas Distribuidora SA
 
501,400
1,266,874
Suzano SA
 
298,038
3,355,410
Telefonica Brasil SA
 
154,000
1,403,990
TIM SA
 
312,900
1,061,158
Totvs SA
 
215,200
1,141,357
Ultrapar Participacoes SA
 
269,600
1,342,133
Vale SA
 
1,285,086
15,663,269
Vibra Energia SA
 
441,351
1,994,010
Weg SA
 
631,700
4,811,411
Wheaton Precious Metals Corp.
 
170,569
8,886,216
Yara International ASA
 
62,585
1,788,787
TOTAL BRAZIL
 
 
104,603,390
Burkina Faso - 0.0%
 
 
 
Endeavour Mining PLC
 
67,689
1,440,411
Canada - 7.1%
 
 
 
Agnico Eagle Mines Ltd. (Canada)
 
186,202
11,791,734
Air Canada (b)
 
67,438
995,417
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
289,817
16,062,933
AltaGas Ltd.
 
111,661
2,447,920
ARC Resources Ltd.
 
226,731
4,105,912
Bank of Montreal
 
271,663
24,266,443
Bank of Nova Scotia
 
459,330
21,073,826
Barrick Gold Corp. (Canada)
 
660,170
10,972,062
BCE, Inc.
 
26,943
885,215
Brookfield Asset Management Ltd. Class A
 
132,012
5,043,047
Brookfield Corp. (Canada) Class A
 
522,664
20,965,028
CAE, Inc. (b)
 
119,224
2,300,214
Cameco Corp.
 
163,195
7,445,813
Canadian Apartment Properties (REIT) unit
 
32,104
999,278
Canadian Imperial Bank of Commerce
 
356,432
16,637,722
Canadian National Railway Co.
 
205,497
24,942,065
Canadian Natural Resources Ltd.
 
403,362
30,566,029
Canadian Pacific Kansas City Ltd.
 
350,807
27,521,270
Canadian Tire Ltd. Class A (non-vtg.)
 
19,946
1,926,865
Canadian Utilities Ltd. Class A (non-vtg.)
 
49,418
1,104,918
CCL Industries, Inc. Class B
 
57,342
2,928,226
Cenovus Energy, Inc. (Canada)
 
530,452
10,896,875
CGI, Inc. Class A (sub. vtg.) (b)
 
78,054
7,908,875
Constellation Software, Inc.
 
7,589
19,538,402
Constellation Software, Inc. warrants 3/31/40 (b)(e)
 
7,326
1
Descartes Systems Group, Inc. (Canada) (b)
 
31,829
2,952,503
Dollarama, Inc.
 
106,238
8,862,363
Element Fleet Management Corp.
 
147,379
2,352,026
Emera, Inc.
 
108,315
3,653,118
Empire Co. Ltd. Class A (non-vtg.)
 
53,517
1,246,715
Enbridge, Inc.
 
800,365
28,458,843
Fairfax Financial Holdings Ltd. (sub. vtg.)
 
8,006
8,704,217
FirstService Corp.
 
15,176
2,229,025
Fortis, Inc.
 
186,072
7,306,906
Franco-Nevada Corp.
 
72,256
8,698,118
George Weston Ltd.
 
22,752
2,994,210
Gildan Activewear, Inc.
 
58,178
2,016,674
Great-West Lifeco, Inc.
 
104,205
3,081,528
Hydro One Ltd. (d)
 
123,484
3,458,790
iA Financial Corp., Inc.
 
37,583
2,278,486
IGM Financial, Inc.
 
31,191
779,633
Imperial Oil Ltd.
 
70,936
4,877,124
Intact Financial Corp.
 
66,744
10,970,228
Ivanhoe Mines Ltd. (a)(b)
 
241,065
3,267,550
Keyera Corp.
 
84,789
2,175,388
Kinross Gold Corp.
 
466,150
3,006,873
Loblaw Companies Ltd.
 
59,009
6,470,780
Magna International, Inc. Class A (sub. vtg.)
 
102,373
4,893,142
Manulife Financial Corp.
 
680,231
15,866,210
MEG Energy Corp. (b)
 
105,810
2,406,502
Metro, Inc.
 
86,650
4,432,421
National Bank of Canada
 
126,823
10,183,427
Northland Power, Inc.
 
97,395
1,486,412
Nutrien Ltd.
 
185,697
9,791,701
Onex Corp. (sub. vtg.)
 
24,984
1,772,555
Open Text Corp.
 
102,220
3,609,424
Pan American Silver Corp.
 
138,531
2,554,972
Parkland Corp.
 
53,529
1,649,050
Pembina Pipeline Corp.
 
218,282
7,680,660
Power Corp. of Canada (sub. vtg.)
 
216,060
5,756,787
Quebecor, Inc. Class B (sub. vtg.)
 
56,504
1,169,360
RB Global, Inc.
 
68,497
4,903,015
Restaurant Brands International, Inc.
 
107,165
8,130,108
Restaurant Brands International, Inc. (a)
 
4,980
377,733
RioCan (REIT)
 
58,664
743,181
Rogers Communications, Inc. Class B (non-vtg.)
 
135,000
5,057,168
Royal Bank of Canada
 
529,044
51,184,666
Saputo, Inc.
 
97,768
1,879,867
Shopify, Inc. Class A (b)
 
454,345
31,898,045
Stantec, Inc.
 
43,099
3,431,578
Sun Life Financial, Inc.
 
219,813
11,223,373
Suncor Energy, Inc.
 
486,564
18,566,235
TC Energy Corp.
 
390,668
13,996,111
Teck Resources Ltd. Class B (sub. vtg.)
 
173,169
8,514,735
TELUS Corp.
 
183,080
2,940,398
TFI International, Inc. (Canada)
 
30,321
3,948,679
The Toronto-Dominion Bank
 
668,059
39,632,716
Thomson Reuters Corp.
 
59,597
9,001,565
TMX Group Ltd.
 
104,910
2,777,735
Toromont Industries Ltd.
 
31,144
2,850,502
Tourmaline Oil Corp.
 
126,265
6,170,856
West Fraser Timber Co. Ltd.
 
21,434
1,641,667
WSP Global, Inc.
 
46,909
7,117,874
TOTAL CANADA
 
 
702,407,618
Chile - 0.2%
 
 
 
Antofagasta PLC
 
148,361
4,096,997
Banco de Chile
 
17,478,557
1,938,926
Banco de Credito e Inversiones
 
28,787
839,607
Banco Santander Chile
 
24,431,455
1,106,993
Cencosud SA
 
468,435
802,690
Compania Sud Americana de Vapores SA
 
5,525,781
431,104
Empresas CMPC SA
 
426,131
841,565
Empresas COPEC SA
 
143,559
1,024,449
Enel Americas SA
 
7,906,370
741,184
Enel Chile SA
 
10,181,816
604,514
Falabella SA (b)
 
351,415
940,718
LATAM Airlines Group SA
 
67,792,768
917,273
Lundin Mining Corp.
 
243,671
2,782,485
TOTAL CHILE
 
 
17,068,505
China - 7.6%
 
 
 
360 Security Technology, Inc. (A Shares) (b)
 
154,800
181,130
37 Interactive Entertainment Network Technology Group Co. Ltd. (A Shares)
 
48,200
110,722
AAC Technology Holdings, Inc.
 
260,000
827,486
Accelink Technologies Co. Ltd. (A Shares) (b)
 
17,000
87,154
ACM Research Shanghai, Inc. (A Shares) (b)
 
6,261
70,509
Advanced Micro-Fabrication Equipment, Inc., China (A Shares)
 
13,645
265,305
AECC Aero-Engine Control Co. Ltd. (A Shares)
 
27,900
75,171
AECC Aviation Power Co. Ltd.
 
58,200
283,649
Agricultural Bank of China Ltd.:
 
 
 
 (A Shares)
 
2,154,700
1,307,896
 (H Shares)
 
10,143,000
4,522,875
Aier Eye Hospital Group Co. Ltd. (A Shares)
 
207,169
367,960
AIMA Technology Group Co. Ltd.
 
19,100
92,687
Air China Ltd.:
 
 
 
 (A Shares) (b)
 
281,400
286,161
 (H Shares) (b)
 
744,000
373,010
Airtac International Group
 
54,043
1,910,036
Akeso, Inc. (a)(b)(d)
 
186,000
1,138,157
Alibaba Group Holding Ltd.
 
6,134,412
57,436,896
Alibaba Health Information Technology Ltd. (a)(b)
 
2,216,000
827,186
Aluminum Corp. of China Ltd.:
 
 
 
 (A shares)
 
648,700
662,334
 (H Shares)
 
936,000
620,768
Amlogic Shanghai Co. Ltd. (A Shares)
 
8,978
71,380
Angel Yeast Co. Ltd. (A Shares)
 
19,600
80,475
Anhui Conch Cement Co. Ltd.:
 
 
 
 (A Shares)
 
57,300
181,505
 (H Shares)
 
548,000
1,271,396
Anhui Gujing Distillery Co. Ltd.:
 
 
 
 (A Shares)
 
3,400
127,072
 (B Shares)
 
55,802
914,656
Anhui Jianghuai Automobile Group Corp. Ltd. (A Shares) (b)
 
43,400
93,410
Anhui Kouzi Distillery Co. Ltd. (A Shares)
 
13,500
77,630
Anhui Yingjia Distillery Co. Ltd. (A Shares)
 
14,800
144,718
Anjoy Foods Group Co. Ltd. (A Shares)
 
6,700
85,079
Anker Innovations Technology Co. Ltd. (A Shares) (b)
 
6,900
81,975
Anta Sports Products Ltd.
 
484,200
5,481,625
Asia - Potash International Investment Guangzhou Co. Ltd. (A Shares) (b)
 
19,000
46,553
ASR Microelectronics Co. Ltd. (A Shares)
 
8,869
49,958
Asymchem Laboratories Tianjin Co. Ltd. (A Shares)
 
7,360
83,746
Autobio Diagnostics Co. Ltd.
 
12,800
100,516
Autohome, Inc. ADR Class A
 
25,096
644,967
Avary Holding Shenzhen Co. Ltd. (A Shares)
 
39,400
130,711
AVIC Capital Co. Ltd. (A Shares)
 
204,200
83,637
AviChina Industry & Technology Co. Ltd. (H Shares)
 
871,000
374,593
Avicopter PLC (A Shares)
 
13,700
78,639
BAIC BluePark New Energy Technology Co. Ltd. (A Shares) (b)
 
105,000
98,281
Baidu, Inc. Class A (b)
 
848,694
10,995,328
Bank of Beijing Co. Ltd. (A Shares)
 
471,716
363,136
Bank of Changsha Co. Ltd. (A Shares)
 
104,200
117,238
Bank of Chengdu Co. Ltd. (A Shares)
 
77,600
158,320
Bank of China Ltd.:
 
 
 
 (A Shares)
 
990,200
626,532
 (H Shares)
 
29,575,000
13,264,105
Bank of Communications Co. Ltd.:
 
 
 
 (A Shares)
 
730,700
693,095
 (H Shares)
 
3,567,000
2,568,451
Bank of Hangzhou Co. Ltd. (A Shares)
 
119,780
213,275
Bank of Jiangsu Co. Ltd. (A Shares)
 
459,730
512,531
Bank of Nanjing Co. Ltd. (A Shares)
 
211,900
272,572
Bank of Ningbo Co. Ltd. (A Shares)
 
146,440
462,399
Bank of Shanghai Co. Ltd. (A Shares)
 
398,120
401,109
Bank of Suzhou Co. Ltd.
 
79,200
82,465
Baoshan Iron & Steel Co. Ltd. (A Shares)
 
470,300
450,407
BeiGene Ltd. (b)
 
257,371
3,053,089
Beijing Dabeinong Technology Group Co. Ltd. (A Shares)
 
96,900
62,614
Beijing Enlight Media Co. Ltd. (A Shares)
 
63,600
81,968
Beijing Enterprises Holdings Ltd.
 
187,500
600,291
Beijing Enterprises Water Group Ltd.
 
1,442,000
363,688
Beijing Kingsoft Office Software, Inc. (A Shares)
 
10,132
429,168
Beijing New Building Materials PLC (A Shares)
 
36,100
163,026
Beijing Oriental Yuhong Waterproof Technology Co. Ltd. (A Shares)
 
25,200
50,825
Beijing Roborock Technology Co. Ltd. (A Shares)
 
3,052
178,316
Beijing Tiantan Biological Products Corp. Ltd. (A Shares)
 
39,300
155,632
Beijing Tongrentang Co. Ltd. (A Shares)
 
29,200
170,286
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. (A Shares)
 
18,746
176,119
Beijing Yanjing Brewery Co. Ltd. (A Shares)
 
64,000
87,341
Beijing-Shanghai High Speed Railway Co. Ltd. (A Shares)
 
1,123,800
787,713
Beiqi Foton Motor Co. Ltd. (A Shares) (b)
 
158,600
57,364
Bethel Automotive Safety Systems Co. Ltd. (A Shares)
 
9,600
76,047
Bilibili, Inc. Class Z (a)(b)
 
86,611
1,099,802
Bloomage Biotechnology Corp. Ltd. (A Shares)
 
10,867
92,018
BOC Aviation Ltd. Class A (d)
 
74,000
588,576
BOC Hong Kong (Holdings) Ltd.
 
1,404,149
4,303,848
BOC International China Co. Ltd.
 
54,800
77,447
BOE Technology Group Co. Ltd. (A Shares)
 
880,300
528,412
Bosideng International Holdings Ltd.
 
1,368,000
791,891
Brilliance China Automotive Holdings Ltd.
 
1,134,000
941,657
By-Health Co. Ltd. (A Shares)
 
33,900
73,947
BYD Co. Ltd.:
 
 
 
 (A Shares)
 
37,500
1,125,889
 (H Shares) (a)
 
396,500
10,869,089
BYD Electronic International Co. Ltd.
 
289,000
973,579
C&D International Investment Group Ltd.
 
263,616
522,202
Caitong Securities Co. Ltd.
 
97,770
103,104
Cambricon Technologies Corp. Ltd. (A Shares) (b)
 
9,193
212,147
Canmax Technologies Co. Ltd. (A Shares)
 
15,730
45,753
Cathay Biotech, Inc. (A Shares) (b)
 
15,847
111,924
CECEP Solar Energy Co. Ltd. (A Shares)
 
95,100
67,642
CGN Power Co. Ltd.:
 
 
 
 (A Shares) (b)
 
485,500
275,288
 (H Shares) (d)
 
3,810,000
1,277,524
Changchun High & New Technology Industry Group, Inc. (A Shares)
 
8,700
135,261
Changjiang Securities Co. Ltd. (A Shares)
 
165,200
128,978
Changzhou Xingyu Automotive Lighting Systems Co. Ltd. (A Shares)
 
6,100
111,437
Chaozhou Three-Circle Group Co. (A Shares)
 
41,300
158,554
Chengxin Lithium Group Co. Ltd. (A Shares)
 
18,200
44,979
Chifeng Jilong Gold Mining Co. Ltd. (A Shares) (b)
 
37,100
91,024
China Baoan Group Co. Ltd. (A Shares)
 
56,600
81,975
China Cinda Asset Management Co. Ltd. (H Shares)
 
3,353,000
302,162
China CITIC Bank Corp. Ltd.:
 
 
 
 (A Shares)
 
200,300
189,893
 (H Shares)
 
3,022,000
1,767,972
China Coal Energy Co. Ltd. (H Shares)
 
791,000
796,805
China Communications Services Corp. Ltd. (H Shares)
 
828,000
395,823
China Construction Bank Corp.:
 
 
 
 (A Shares)
 
686,542
674,187
 (H Shares)
 
35,507,000
22,972,712
China CSSC Holdings Ltd. (A Shares)
 
98,000
492,433
China Eastern Airlines Corp. Ltd. (A Shares) (b)
 
332,700
176,021
China Energy Engineering Corp. Ltd. (A Shares)
 
648,100
196,525
China Everbright Bank Co. Ltd.:
 
 
 
 (A Shares)
 
324,600
141,149
 (H Shares)
 
2,510,000
760,420
China Feihe Ltd. (d)
 
1,351,000
738,816
China Film Co. Ltd. (A Shares) (b)
 
38,800
63,575
China Galaxy Securities Co. Ltd.:
 
 
 
 (A Shares)
 
154,600
264,401
 (H Shares)
 
1,345,500
728,813
China Gas Holdings Ltd.
 
1,008,600
944,384
China Great Wall Securities Co. Ltd. (A Shares)
 
160,000
168,689
China Greatwall Technology Group Co. Ltd. (A Shares)
 
71,700
96,153
China Hongqiao Group Ltd. (a)
 
878,000
1,211,535
China Huishan Dairy Holdings Co. Ltd. (b)(e)
 
397,000
1
China International Capital Corp. Ltd.
 
53,100
243,569
China International Capital Corp. Ltd. (H Shares) (a)(d)
 
626,800
755,825
China Jushi Co. Ltd. (A Shares)
 
110,322
181,342
China Life Insurance Co. Ltd.:
 
 
 
 (A Shares)
 
31,100
131,079
 (H Shares)
 
2,942,000
3,874,388
China Literature Ltd. (b)(d)
 
150,400
537,237
China Longyuan Power Grid Corp. Ltd. (H Shares)
 
1,234,000
864,458
China Medical System Holdings Ltd.
 
501,000
447,318
China Mengniu Dairy Co. Ltd.
 
1,207,000
2,500,274
China Merchants Bank Co. Ltd.:
 
 
 
 (A Shares)
 
345,400
1,629,732
 (H Shares)
 
1,616,751
7,001,918
China Merchants Energy Shipping Co. Ltd. (A Shares)
 
190,000
223,486
China Merchants Expressway Network & Technology Holdings Co. Ltd. (A Shares) (b)
 
98,400
150,363
China Merchants Holdings International Co. Ltd.
 
504,655
666,455
China Merchants Securities Co. Ltd. (A Shares)
 
156,930
316,099
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares)
 
210,800
245,594
China Minmetals Rare Earth Co. Ltd. (A Shares)
 
22,700
87,676
China Minsheng Banking Corp. Ltd.:
 
 
 
 (A Shares)
 
801,300
436,920
 (H Shares)
 
2,709,800
991,465
China National Building Materials Co. Ltd. (H Shares)
 
1,431,000
553,708
China National Chemical Engineering Co. Ltd. (A Shares)
 
123,200
116,997
China National Medicines Corp. Ltd. (A Shares)
 
17,200
82,426
China National Nuclear Power Co. Ltd. (A Shares)
 
406,100
517,749
China National Software & Service Co. Ltd. (A Shares)
 
19,630
81,712
China Northern Rare Earth Group High-Tech Co. Ltd.
 
79,700
211,810
China Oilfield Services Ltd. (H Shares)
 
650,000
695,049
China Oriental Group Co. Ltd. (H Shares)
 
107
14
China Overseas Land and Investment Ltd.
 
1,473,500
2,709,579
China Overseas Property Holdings Ltd. (a)
 
490,000
298,036
China Pacific Insurance (Group) Co. Ltd.
 
101,700
360,475
China Pacific Insurance (Group) Co. Ltd. (H Shares)
 
1,116,200
2,445,682
China Petroleum & Chemical Corp.:
 
 
 
 (A Shares)
 
924,000
808,034
 (H Shares)
 
8,920,000
5,324,366
China Power International Development Ltd.
 
1,856,248
749,063
China Railway Group Ltd.:
 
 
 
 (A Shares)
 
783,500
707,699
 (H Shares)
 
1,065,000
525,534
China Railway Signal & Communications Corp. (A Shares)
 
163,929
122,086
China Resource Gas Group Ltd.
 
340,100
1,068,925
China Resources Beer Holdings Co. Ltd.
 
623,162
2,840,411
China Resources Land Ltd.
 
1,218,634
4,382,009
China Resources Microelectronics Ltd. (A Shares)
 
29,035
145,792
China Resources Mixc Lifestyle Services Ltd. (d)
 
278,000
978,495
China Resources Pharmaceutical Group Ltd. (d)
 
576,000
372,477
China Resources Power Holdings Co. Ltd.
 
708,523
1,761,995
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares)
 
21,900
181,227
China Ruyi Holdings Ltd. (a)(b)
 
2,060,000
515,974
China Shenhua Energy Co. Ltd.:
 
 
 
 (A Shares)
 
135,500
744,282
 (H Shares)
 
1,295,500
5,376,935
China Southern Airlines Ltd.:
 
 
 
 (A Shares) (b)
 
111,700
87,255
 (H Shares) (a)(b)
 
572,000
206,820
China State Construction Engineering Corp. Ltd. (A Shares)
 
907,460
670,311
China State Construction International Holdings Ltd.
 
801,250
845,401
China Taiping Insurance Group Ltd.
 
534,777
488,955
China Three Gorges Renewables Group Co. Ltd. (A Shares)
 
613,400
396,648
China Tourism Group Duty Free Corp. Ltd.:
 
 
 
 (A Shares)
 
63,900
655,645
 (H Shares) (d)
 
17,300
152,347
China Tower Corp. Ltd. (H Shares) (d)
 
16,578,000
1,940,610
China United Network Communications Ltd. (A Shares)
 
707,400
456,225
China Vanke Co. Ltd.:
 
 
 
 (A Shares)
 
187,300
190,655
 (H Shares) (a)
 
889,600
521,738
China XD Electric Co. Ltd. (A Shares) (b)
 
103,000
99,923
China Yangtze Power Co. Ltd. (A Shares)
 
545,530
1,940,989
China Zhenhua (Group) Science & Technology Co. Ltd. (A Shares)
 
11,100
71,355
China Zheshang Bank Co. Ltd.
 
508,950
210,424
Chongqing Brewery Co. Ltd. (A Shares)
 
10,800
104,665
Chongqing Changan Automobile Co. Ltd. (A Shares)
 
188,290
380,823
Chongqing Rural Commercial Bank Co. Ltd. (A Shares)
 
232,300
148,749
Chongqing Taiji Industry Group Co. Ltd. (A Shares) (b)
 
11,700
58,534
Chongqing Zhifei Biological Products Co. Ltd. (A Shares)
 
53,400
257,920
Chow Tai Fook Jewellery Group Ltd.
 
740,200
1,007,152
CITIC Pacific Ltd.
 
2,256,000
2,135,084
CITIC Securities Co. Ltd.:
 
 
 
 (A Shares)
 
204,630
533,461
 (H Shares)
 
768,675
1,223,819
Cmoc Group Ltd.:
 
 
 
 (A Shares)
 
463,700
570,165
 (H Shares)
 
1,419,000
1,331,320
CNGR Advanced Material Co. Ltd.
 
13,100
94,526
CNPC Capital Co. Ltd. (A Shares) (b)
 
223,000
180,113
Contemporary Amperex Technology Co. Ltd.
 
101,580
2,841,211
COSCO Shipping Development Co. Ltd. (A Shares)
 
201,700
68,386
COSCO Shipping Energy Transportation Co. Ltd.:
 
 
 
 (A Shares)
 
80,100
176,265
 (H Shares)
 
472,000
553,544
COSCO SHIPPING Holdings Co. Ltd.:
 
 
 
 (A Shares)
 
464,620
749,172
 (H Shares)
 
870,650
1,126,476
Cosco Shipping Ports Ltd.
 
528,344
324,223
Country Garden Holdings Co. Ltd. (a)(b)
 
4,534,517
288,393
Country Garden Services Holdings Co. Ltd.
 
801,000
534,380
CRRC Corp. Ltd.:
 
 
 
 (A Shares)
 
1,186,500
1,142,456
 (H Shares)
 
476,000
262,749
CSC Financial Co. Ltd. (A Shares)
 
95,200
292,246
CSPC Innovation Pharmaceutical Co. Ltd. (A Shares)
 
31,920
151,009
CSPC Pharmaceutical Group Ltd.
 
3,406,640
2,797,302
CSSC Science & Technology Co. Ltd. (b)
 
38,900
85,263
Daqin Railway Co. Ltd. (A Shares)
 
374,200
354,746
DaShenLin Pharmaceutical Group Co. Ltd.
 
24,830
74,483
Datang International Power Generation Co. Ltd. (A Shares)
 
202,600
84,180
Dong-E-E-Jiao Co. Ltd. (A Shares)
 
13,300
125,926
Dongfang Electric Corp. Ltd. (A Shares)
 
61,400
142,670
Dongfeng Motor Group Co. Ltd. (H Shares)
 
944,000
342,335
Dongxing Securities Co. Ltd. (A Shares)
 
67,500
81,893
East Buy Holding Ltd. (a)(b)(d)
 
169,500
358,358
East Money Information Co. Ltd. (A Shares)
 
348,789
625,666
Eastroc Beverage Group Co. Ltd. (b)
 
5,400
158,459
Ecovacs Robotics Co. Ltd. Class A
 
12,700
86,584
Empyrean Technology Co. Ltd. (A Shares) (b)
 
9,100
98,128
ENN Energy Holdings Ltd.
 
300,300
2,558,674
ENN Natural Gas Co. Ltd. (A Shares)
 
60,000
149,490
Eoptolink Technology, Inc. Ltd. (A Shares)
 
15,300
179,468
ESR Group Ltd. (a)(d)
 
668,259
732,325
Eve Energy Co. Ltd. (A shares)
 
45,524
232,181
Everbright Securities Co. Ltd. (A Shares)
 
86,400
196,718
Everdisplay Optronics Shanghai Co. Ltd. (A Shares) (b)
 
182,839
55,857
Fangda Carbon New Material Co. Ltd. (A Shares) (b)
 
75,600
52,817
Far East Horizon Ltd.
 
739,000
548,566
FAW Jiefang Group Co. Ltd. (A Shares) (b)
 
74,400
92,115
First Capital Securities Co. Ltd. (A Shares)
 
83,000
65,571
Flat Glass Group Co. Ltd.
 
112,000
269,783
Flat Glass Group Co. Ltd. (A Shares)
 
76,900
281,430
Focus Media Information Technology Co. Ltd. (A Shares)
 
317,140
283,882
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares)
 
103,377
558,335
Fosun International Ltd.
 
932,500
550,167
Founder Securities Co. Ltd. (A Shares)
 
186,400
230,317
Foxconn Industrial Internet Co. Ltd. (A Shares)
 
294,896
974,402
Fujian Sunner Development Co. Ltd. A Shares
 
29,800
64,298
Fuyao Glass Industries Group Co. Ltd.:
 
 
 
 (A Shares)
 
90,600
622,947
 (H Shares) (d)
 
178,400
1,068,092
GalaxyCore, Inc. (A Shares)
 
36,469
83,169
Ganfeng Lithium Group Co. Ltd.:
 
 
 
 (A Shares)
 
62,720
304,093
 (H Shares) (d)
 
102,740
301,283
GCL Technology Holdings Ltd.
 
8,024,000
1,188,458
GD Power Development Co. Ltd. (A Shares)
 
411,600
290,873
Geely Automobile Holdings Ltd.
 
2,257,000
2,716,432
GEM Co. Ltd. (A Shares)
 
106,200
101,804
Genscript Biotech Corp. (a)(b)
 
426,000
628,210
GF Securities Co. Ltd.:
 
 
 
 (A Shares)
 
269,600
490,258
 (H Shares)
 
144,000
143,459
Giant Biogene Holding Co. Ltd. (d)
 
123,200
750,625
Giant Network Group Co. Ltd. (A Shares)
 
44,900
72,584
Gigadevice Semiconductor Beijing, Inc. (A Shares)
 
14,384
155,162
Ginlong Technologies Co. Ltd. (A Shares)
 
8,900
65,534
GoerTek, Inc. (A Shares)
 
76,300
165,683
Goldwind Science & Technology Co. Ltd. (A Shares)
 
103,982
109,171
Goneo Group Co. Ltd. (A Shares)
 
9,300
153,172
GoodWe Technologies Co. Ltd. (A Shares)
 
3,959
50,629
Gotion High-tech Co. Ltd. (A Shares) (b)
 
38,500
99,377
Great Wall Motor Co. Ltd.:
 
 
 
 (A Shares)
 
69,400
250,319
 (H Shares)
 
867,500
1,310,916
Gree Electric Appliances, Inc. of Zhuhai (A Shares)
 
62,200
360,858
Greenland Holdings Corp. Ltd. (A Shares) (b)
 
263,200
66,665
GRG Banking Equipment Co. Ltd. (A Shares)
 
43,500
71,288
Guangdong Haid Group Co. Ltd. (A Shares)
 
36,900
253,906
Guangdong HEC Technology Holding Co. Ltd. (A Shares) (b)
 
65,100
79,531
Guangdong Investment Ltd.
 
1,060,000
553,707
Guanghui Energy Co. Ltd. (A Shares)
 
151,500
154,013
Guangzhou Automobile Group Co. Ltd.
 
159,600
192,865
Guangzhou Automobile Group Co. Ltd. (H Shares)
 
992,000
409,819
Guangzhou Baiyun International Airport Co. Ltd. (A Shares) (b)
 
51,700
73,726
Guangzhou Baiyunshan Pharma Health (A Shares)
 
30,200
133,426
Guangzhou Haige Communications Group (A Shares)
 
45,300
67,983
Guangzhou Kingmed Diagnostics Group Co. Ltd. (A Shares)
 
10,500
55,476
Guangzhou Shiyuan Electronic Technology Co. Ltd. (A Shares)
 
14,300
65,845
Guangzhou Tinci Materials Technology Co. Ltd. (A Shares)
 
42,420
122,542
Guangzhou Yuexiu Financial Holdings Group Co. Ltd. (A Shares)
 
104,804
83,479
Guolian Securities Co. Ltd. (b)(e)
 
55,900
80,749
Guosen Securities Co. Ltd. (A Shares)
 
151,000
186,705
Guotai Junan Securities Co. Ltd.:
 
 
 
 (A Shares)
 
43,000
81,392
 (H Shares) (a)(d)
 
228,600
243,013
Guoyuan Securities Co. Ltd. (A Shares)
 
91,900
86,233
H World Group Ltd. ADR
 
79,246
2,909,121
Haidilao International Holding Ltd. (d)
 
611,000
1,378,543
Haier Smart Home Co. Ltd.
 
836,200
3,097,305
Haier Smart Home Co. Ltd. (A Shares)
 
235,229
978,628
Hainan Airlines Co. Ltd. (A Shares) (b)
 
948,700
178,966
Hainan Airport Infrastructure Co. Ltd. (A Shares) (b)
 
251,200
121,153
Haitian International Holdings Ltd.
 
229,000
745,819
Haitong Securities Co. Ltd.:
 
 
 
 (A Shares)
 
188,500
217,346
 (H Shares)
 
1,136,000
542,578
Hanergy Mobile Energy Holding (b)(e)
 
576,000
1
Hangzhou Binjiang Real Estate Group Co. Ltd. (A Shares)
 
68,700
63,561
Hangzhou Chang Chuan Technology Co. Ltd.
 
12,700
50,992
Hangzhou First Applied Material Co. Ltd. (A Shares)
 
39,392
147,296
Hangzhou Greatstar Industrial Co. Ltd. (A Shares)
 
24,100
83,988
Hangzhou Oxygen Plant Group Co. Ltd. (A Shares)
 
21,100
79,376
Hangzhou Robam Appliances Co. Ltd. (A Shares)
 
21,100
68,736
Hangzhou Silan Microelectronics Co. Ltd. (A Shares)
 
58,300
153,608
Hangzhou Tigermed Consulting Co. Ltd.:
 
 
 
 (A Shares)
 
4,600
37,363
 (H Shares) (a)(d)
 
7,800
34,444
Hansoh Pharmaceutical Group Co. Ltd. (d)
 
438,000
967,847
Haohua Chemical Science & Technology Co. Ltd. (A Shares)
 
17,200
73,637
Hebei Yangyuan Zhihui Beverage Co. Ltd. (A Shares) (b)
 
28,200
102,116
Heilongjiang Agriculture Co. Ltd. (A Shares)
 
32,100
57,921
Henan Shenhuo Coal & Power Co. Ltd. (A Shares)
 
51,300
153,104
Henan Shuanghui Investment & Development Co. Ltd. (A Shares)
 
71,600
266,242
Hengan International Group Co. Ltd.
 
232,500
780,542
Hengdian Group DMEGC Magnetics Co. Ltd. (A Shares)
 
34,100
67,607
Hengli Petrochemical Co. Ltd. (A Shares) (b)
 
157,200
335,633
Hengtong Optic-electric Co. Ltd. (A Shares)
 
52,300
101,818
Hengyi Petrochemical Co. Ltd. (A Shares) (b)
 
73,630
76,045
Hesteel Co. Ltd. (A Shares)
 
237,700
71,720
Hisense Electric Co. Ltd.
 
26,900
103,425
Hithink RoyalFlush Information Network Co. Ltd. (A Shares)
 
11,600
192,390
HLA Group Corp. Ltd. (A Shares) (b)
 
113,400
142,413
Hongfa Technology Co. Ltd. (A Shares)
 
18,620
73,227
Hoshine Silicon Industry Co. Ltd. (A Shares)
 
17,400
115,890
Hoymiles Power Electronics, Inc. (A Shares)
 
1,914
59,764
Hua Hong Semiconductor Ltd. (a)(d)
 
217,000
427,643
Huadian Power International Corp. Ltd.:
 
 
 
 (A Shares)
 
21,700
20,228
 (H Shares)
 
238,000
129,958
Huadong Medicine Co. Ltd. (A Shares)
 
38,660
175,618
Huafon Chemical Co. Ltd. (A Shares)
 
94,500
105,967
Huagong Tech Co. Ltd. (A Shares) (b)
 
22,800
104,328
Huaibei Mining Holdings Co. Ltd. (A Shares)
 
55,500
147,643
Hualan Biological Engineer, Inc. (A Shares)
 
41,350
111,008
Huaneng Power International, Inc.:
 
 
 
 (A Shares) (b)
 
309,900
399,906
 (H Shares) (b)
 
1,450,000
922,927
Huatai Securities Co. Ltd.:
 
 
 
 (A Shares)
 
66,400
125,576
 (H Shares) (d)
 
650,600
769,413
Huaxia Bank Co. Ltd. (A Shares)
 
286,000
264,703
Huayu Automotive Systems Co. Ltd. (A Shares)
 
67,031
152,198
Hubei Jumpcan Pharmaceutical Co. Ltd. (A Shares)
 
18,900
107,191
Huizhou Desay SV Automotive Co. Ltd.
 
12,400
214,167
Humanwell Healthcare Group Co. Ltd. (A Shares)
 
38,100
106,240
Hunan Valin Steel Co. Ltd. (A Shares)
 
139,500
100,377
Hundsun Technologies, Inc. (A Shares)
 
41,777
118,029
Hwatsing Technology Co. Ltd. (A Shares)
 
3,716
87,142
Hygeia Healthcare Holdings Co. (a)(d)
 
129,400
534,090
Hygon Information Technology Co. Ltd. (A Shares)
 
43,142
463,955
IEIT Systems Co. Ltd. (A Shares)
 
32,012
178,522
iFlytek Co. Ltd. (A Shares)
 
50,300
310,960
IMEIK Technology Development Co. Ltd. (A Shares)
 
6,720
198,784
Industrial & Commercial Bank of China Ltd.:
 
 
 
 (A Shares)
 
1,760,800
1,318,944
 (H Shares)
 
23,953,000
12,844,283
Industrial Bank Co. Ltd. (A Shares)
 
482,400
1,120,511
Industrial Securities Co. Ltd. (A Shares)
 
186,940
143,628
Ingenic Semiconductor Co. Ltd. (A Shares)
 
9,900
86,235
Inner Mongoli Yili Industries Co. Ltd. (A Shares)
 
141,700
558,425
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) (b)
 
978,800
215,525
Inner Mongolia Dian Tou Energy Corp. Ltd.
 
46,800
136,014
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. (A Shares)
 
164,900
95,700
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)
 
407,700
792,374
Inner Mongolia Yuan Xing Energy Co. Ltd. (A Shares)
 
78,600
77,734
Innovent Biologics, Inc. (b)(d)
 
463,000
2,241,367
iQIYI, Inc. ADR (b)
 
162,192
786,631
iRay Technology Co. Ltd. (A Shares)
 
2,161
59,205
iSoftStone Information Technology Group Co. Ltd. (A Shares)
 
21,450
123,493
JA Solar Technology Co. Ltd. (A Shares)
 
72,996
143,155
Jason Furniture Hangzhou Co. Ltd. (A Shares)
 
18,020
82,953
JCET Group Co. Ltd. (A Shares)
 
37,800
133,267
JD Health International, Inc. (b)(d)
 
426,450
1,454,547
JD Logistics, Inc. (b)(d)
 
727,400
787,283
JD.com, Inc. Class A
 
884,217
12,740,128
Jiangsu Eastern Shenghong Co. Ltd.
 
139,600
190,779
Jiangsu Expressway Co. Ltd. (H Shares)
 
456,000
447,207
Jiangsu Hengli Hydraulic Co. Ltd.
 
28,772
202,554
Jiangsu Hengrui Medicine Co. Ltd. (A Shares)
 
141,048
895,697
Jiangsu King's Luck Brewery JSC Ltd. (A Shares)
 
27,900
220,640
Jiangsu Nhwa Pharmaceutical Co. Ltd. (A Shares) (b)
 
20,700
71,357
Jiangsu Pacific Quartz Co. Ltd. (A Shares)
 
8,000
86,347
Jiangsu Phoenix Publishing & Media Corp. Ltd. (b)
 
53,500
75,152
Jiangsu Yanghe Brewery JSC Ltd. (A Shares)
 
33,500
438,532
Jiangsu Yangnong Chemical Co. Ltd. (A Shares)
 
7,800
69,234
Jiangsu Yoke Technology Co. Ltd. (A Shares)
 
10,300
90,610
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. (A Shares)
 
21,300
113,586
Jiangsu Zhongtian Technology Co. Ltd. (A Shares)
 
73,400
136,953
Jiangxi Copper Co. Ltd.:
 
 
 
 (A Shares)
 
70,300
252,069
 (H Shares)
 
407,000
828,909
Jiangxi Special Electric Motor Co. Ltd. (A Shares) (b)
 
35,600
47,650
Jinduicheng Molybdenum Co. Ltd. (A Shares)
 
71,500
111,859
Jinko Solar Co. Ltd. (A Shares)
 
220,168
228,842
JiuGui Liquor Co. Ltd. (A Shares)
 
7,300
51,316
Jizhong Energy Resources Co. Ltd. (A Shares)
 
84,300
87,183
Joincare Pharmaceutical Group Industry Co. Ltd. (A Shares)
 
39,200
65,675
Jointown Pharmaceutical Group (A Shares)
 
87,403
98,897
Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd. (A Shares) (b)
 
18,500
75,230
Juneyao Airlines Co. Ltd. (A shares) (b)
 
42,800
72,565
Kangmei Pharmaceutical Co. Ltd. rights (b)(e)
 
2,866
0
Kanzhun Ltd. ADR
 
81,694
1,616,724
KE Holdings, Inc. ADR
 
249,722
3,775,797
Keda Industrial Group Co. Ltd.
 
40,500
56,425
Kingboard Chemical Holdings Ltd.
 
249,000
547,246
Kingdee International Software Group Co. Ltd. (b)
 
1,130,000
1,192,179
Kingnet Network Co. Ltd. (A Shares)
 
46,000
74,539
Kingsoft Corp. Ltd.
 
347,200
1,128,047
Kuaishou Technology Class B (b)(d)
 
881,600
6,180,641
Kuang-Chi Technologies Co. Ltd. (A Shares) (b)
 
45,500
122,591
Kunlun Energy Co. Ltd.
 
1,448,000
1,403,661
Kunlun Tech Co. Ltd. (A Shares) (b)
 
26,500
144,650
Kweichow Moutai Co. Ltd. (A Shares)
 
28,600
6,705,733
Lb Group Co. Ltd. (A Shares)
 
48,600
140,508
Lenovo Group Ltd.
 
3,070,000
3,453,012
Lens Technology Co. Ltd. (A Shares)
 
106,900
210,137
Lepu Medical Technology Beijing Co. Ltd. (A Shares)
 
37,400
75,574
Li Auto, Inc. Class A (b)
 
432,164
5,662,169
Li Ning Co. Ltd.
 
885,500
2,318,123
Liaoning Port Co. Ltd. (A Shares)
 
390,600
77,609
Lingyi iTech Guangdong Co. (A Shares)
 
150,800
107,843
Livzon Pharmaceutical Group, Inc. (A Shares)
 
14,900
82,413
Longfor Properties Co. Ltd. (a)(d)
 
733,508
1,086,432
LONGi Green Energy Technology Co. Ltd.
 
167,968
420,605
Luxshare Precision Industry Co. Ltd. (A Shares)
 
157,047
629,524
Luzhou Laojiao Co. Ltd. (A Shares)
 
32,700
837,022
Mango Excellent Media Co. Ltd. (A Shares)
 
41,100
132,330
Maxscend Microelectronics Co. Ltd. (A Shares)
 
11,952
148,921
Meihua Holdings Group Co. Ltd. (A Shares)
 
69,600
106,588
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) (b)
 
86,164
52,555
Meituan Class B (b)(d)
 
1,908,910
26,065,271
Metallurgical Corp. China Ltd. (H Shares)
 
920,000
179,089
MGI Tech Co. Ltd. (A Shares)
 
11,647
93,696
Midea Group Co. Ltd. (A Shares)
 
84,200
809,816
Ming Yang Smart Energy Group Ltd. (A Shares)
 
47,800
64,379
MINISO Group Holding Ltd.
 
138,620
781,962
Montage Technology Co. Ltd. (A Shares)
 
24,805
172,276
Muyuan Foodstuff Co. Ltd. (A Shares)
 
119,040
715,810
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd.
 
35,293
66,605
Nanjing Securities Co. Ltd. (A Shares)
 
88,600
100,047
NARI Technology Co. Ltd. (A Shares)
 
206,605
668,240
National Silicon Industry Group Co. Ltd. (A Shares) (b)
 
61,329
111,926
NAURA Technology Group Co. Ltd.
 
11,600
507,962
NetEase, Inc.
 
727,195
13,631,009
New China Life Insurance Co. Ltd.
 
21,900
94,707
New China Life Insurance Co. Ltd. (H Shares)
 
359,900
690,202
New Hope Liuhe Co. Ltd. (A Shares) (b)
 
103,800
127,619
New Oriental Education & Technology Group, Inc. (b)
 
562,710
4,471,274
Ninestar Corp. (A Shares)
 
31,300
108,899
Ningbo Deye Technology Co. Ltd. (A Shares)
 
9,100
117,102
Ningbo Joyson Electronic Corp. (A shares)
 
29,500
71,302
Ningbo Orient Wires & Cables Co. Ltd. (A Shares)
 
15,800
96,055
Ningbo Sanxing Medical Electric Co. Ltd. (b)
 
41,400
191,134
Ningbo Shanshan Co. Ltd. (A Shares)
 
44,500
72,550
Ningbo Tuopu Group Co. Ltd. (A Shares)
 
24,700
212,545
Ningxia Baofeng Energy Group Co. Ltd.
 
159,200
363,918
NIO, Inc. sponsored ADR (a)(b)
 
514,776
2,429,743
Nongfu Spring Co. Ltd. (H Shares) (d)
 
765,400
4,496,664
Offcn Education Technology Co. A Shares (b)
 
141,800
51,770
Offshore Oil Enginering Co. Ltd. (A Shares)
 
106,500
93,331
OFILM Group Co. Ltd. (A Shares) (b)
 
74,900
90,297
Oppein Home Group, Inc. (A Shares)
 
11,260
96,691
Orient Securities Co. Ltd. (A Shares)
 
168,708
193,833
Oriental Pearl Group Co. Ltd. (b)
 
66,500
63,205
Pangang Group Vanadium Titanium & Resources Co. Ltd. (A Shares) (b)
 
191,700
81,987
PDD Holdings, Inc. ADR (b)
 
225,293
28,202,178
People's Insurance Co. of China Group Ltd.:
 
 
 
 (A Shares)
 
140,700
101,532
 (H Shares)
 
3,602,000
1,182,268
People.cn Co. Ltd. (A Shares) (b)
 
24,000
81,789
Perfect World Co. Ltd. (A Shares)
 
42,950
59,135
PetroChina Co. Ltd.:
 
 
 
 (A Shares)
 
525,000
740,694
 (H Shares)
 
7,896,000
7,357,031
Pharmaron Beijing Co. Ltd. (H Shares) (d)
 
59,300
72,691
PICC Property & Casualty Co. Ltd. (H Shares)
 
2,622,933
3,258,688
Ping An Bank Co. Ltd. (A Shares)
 
423,600
629,613
Ping An Insurance Group Co. of China Ltd.:
 
 
 
 (A Shares)
 
253,892
1,443,264
 (H Shares)
 
2,516,000
11,402,722
Piotech, Inc. (A Shares)
 
3,993
99,303
Poly Developments & Holdings (A Shares)
 
265,700
326,008
Pop Mart International Group Ltd. (d)
 
174,800
748,045
Postal Savings Bank of China Co. Ltd.
 
436,700
289,006
Postal Savings Bank of China Co. Ltd. (H Shares) (d)
 
3,301,000
1,710,422
Power Construction Corp. of China Ltd. (A Shares)
 
360,700
252,390
Prosus NV
 
551,542
18,454,568
Qi An Xin Technology Group, Inc. (A Shares) (b)
 
15,199
64,609
Qifu Technology, Inc. ADR
 
47,575
870,147
Qinghai Salt Lake Potash Co. Ltd. Class A (b)
 
116,300
265,681
Range Intelligent Computing Technology Group Co. Ltd. (A Shares)
 
34,200
147,212
Risen Energy Co. Ltd. (A Shares)
 
25,500
45,552
Rockchip Electronics Co. Ltd.
 
7,900
62,484
Rongsheng Petrochemical Co. Ltd. (A Shares)
 
226,550
349,923
SAIC Motor Corp. Ltd. (A Shares)
 
164,000
335,812
Sailun Group Co. Ltd. A Shares
 
72,900
166,616
Sanan Optoelectronics Co. Ltd. (A Shares)
 
110,600
190,585
Sangfor Technologies, Inc. (b)
 
9,300
70,059
Sany Heavy Equipment International Holdings Co. Ltd. (a)
 
401,000
281,775
Sany Heavy Industry Co. Ltd. (A Shares)
 
185,300
416,384
Satellite Chemical Co. Ltd. (A Shares) (b)
 
76,099
202,122
SDIC Capital Co. Ltd.
 
140,200
123,540
SDIC Power Holdings Co. Ltd. (A Shares)
 
167,600
368,057
Seazen Holdings Co. Ltd. (A Shares) (b)
 
51,700
70,036
Seres Group Co. Ltd. (A Shares) (b)
 
34,200
426,278
SF Holding Co. Ltd. (A Shares)
 
107,800
537,730
SG Micro Corp. (A Shares)
 
9,847
104,002
Shaanxi Coal Industry Co. Ltd. (A Shares)
 
216,000
731,549
Shan Xi Hua Yang Group New Energy Co. Ltd.
 
82,650
107,724
Shandong Gold Mining Co. Ltd.:
 
 
 
 (A Shares)
 
95,832
378,935
 (H Shares) (d)
 
276,500
597,462
Shandong Himile Mechanical Science & Technology Co. Ltd. (A Shares) (b)
 
15,100
82,856
Shandong Hualu Hengsheng Chemical Co. Ltd. (A Shares)
 
44,320
181,920
Shandong Linglong Tyre Co. Ltd. (A Shares)
 
33,300
102,610
Shandong Nanshan Aluminum Co. Ltd. (A Shares)
 
237,000
116,783
Shandong Sun Paper Industry JSC Ltd. (A Shares)
 
56,000
120,231
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)
 
899,600
610,062
Shanghai Aiko Solar Energy Co. Ltd. (A Shares)
 
40,880
67,383
Shanghai Bairun Investment Holding Group Co. Ltd. (A Shares)
 
24,180
67,888
Shanghai Baosight Software Co. Ltd.
 
328,176
701,076
Shanghai Baosight Software Co. Ltd. (A Shares)
 
20,352
114,980
Shanghai Construction Group Co. Ltd. (A Shares)
 
168,300
55,626
Shanghai Electric Group Co. Ltd. (A Shares) (b)
 
265,500
157,587
Shanghai Electric Power Co. Ltd. (A Shares)
 
68,200
86,332
Shanghai Fosun Pharmaceutical (Group) Co. Ltd.:
 
 
 
 (A Shares)
 
37,800
123,401
 (H Shares)
 
199,500
313,188
Shanghai Friendess Electronic Technology Corp. Ltd. (A Shares)
 
3,050
136,263
Shanghai International Airport Co. Ltd. (A Shares) (b)
 
27,600
143,168
Shanghai International Port Group Co. Ltd. (A Shares)
 
205,500
159,177
Shanghai Jinjiang International Hotels Co. Ltd. (A Shares)
 
19,600
77,967
Shanghai Junshi Biosciences Co. Ltd. (A Shares) (b)
 
17,430
72,244
Shanghai Lingang Holdings Corp. Ltd. (A Shares)
 
56,280
81,957
Shanghai M&G Stationery, Inc. (A Shares)
 
20,300
98,887
Shanghai Moons' Electric Co. Ltd. (A Shares) (b)
 
9,000
69,384
Shanghai Pharmaceuticals Holding Co. Ltd.:
 
 
 
 (A Shares)
 
112,000
276,867
 (H Shares)
 
193,300
274,691
Shanghai Pudong Development Bank Co. Ltd. (A Shares)
 
623,200
660,667
Shanghai Putailai New Energy Technology Co. Ltd.
 
42,380
107,801
Shanghai RAAS Blood Products Co. Ltd. (A Shares)
 
153,600
151,907
Shanghai Rural Commercial Bank Co. Ltd. (A Shares)
 
312,600
291,589
Shanghai United Imaging Healthcare Co. Ltd. (A Shares) (b)
 
18,747
342,535
Shanghai Yuyuan Tourist Mart Group Co. Ltd.
 
65,400
53,448
Shanghai Zhangjiang High Ltd. (A Shares) (b)
 
35,100
88,984
Shanxi Coal International Energy Group Co. Ltd. (A Shares) (b)
 
45,200
89,251
Shanxi Lu'an Environmental Energy Development Co. Ltd. (A Shares)
 
67,600
197,110
Shanxi Meijin Energy Co. Ltd. (A Shares) (b)
 
90,100
75,326
Shanxi Taigang Stainless Steel Co. Ltd. (A Shares)
 
116,400
61,949
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares)
 
27,120
976,778
Shanxi Xishan Coal & Electricity Power Co. Ltd. (A Shares)
 
126,970
183,723
Shede Spirits Co. Ltd. (A Shares)
 
7,600
76,228
Shenergy Co. Ltd. (A Shares)
 
114,200
133,940
Shengyi Technology Co. Ltd.
 
44,800
119,465
Shennan Circuits Co. Ltd. (A Shares)
 
10,700
137,248
Shenwan Hongyuan Group Co. Ltd. (A Shares)
 
549,400
355,540
Shenzhen Capchem Technology Co. Ltd. (A Shares)
 
15,700
72,765
Shenzhen Energy Group Co. Ltd. (A Shares)
 
107,820
107,512
Shenzhen Goodix Technology Co. Ltd. (A Shares) (b)
 
10,600
89,459
Shenzhen Inovance Technology Co. Ltd. (A Shares)
 
30,650
251,359
Shenzhen Kaifa Technology Co. Ltd. (A Shares)
 
35,600
67,556
Shenzhen Kangtai Biological Products Co. Ltd.
 
24,060
66,990
Shenzhen Kedali Industry Co. Ltd.
 
5,400
70,951
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)
 
26,800
1,125,327
Shenzhen New Industries Biomedical Engineering Co. Ltd.
 
16,900
164,722
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) (b)
 
182,400
66,281
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares)
 
23,200
101,921
Shenzhen SC New Energy Technology Corp. (A Shares)
 
7,800
73,755
Shenzhen Sed Industry Co. Ltd. (A Shares)
 
24,300
58,723
Shenzhen Transsion Holdings Co. Ltd. (A Shares)
 
17,514
346,864
Shenzhen YUTO Packaging Technology Co. Ltd. (A Shares)
 
18,100
66,718
Shenzhou International Group Holdings Ltd.
 
314,500
3,091,287
Shijiazhuang Yiling Pharmaceutical Co. Ltd. (A Shares)
 
38,060
98,754
Sichuan Changhong Electric Co. Ltd. (A Shares)
 
106,500
81,530
Sichuan Chuantou Energy Co. Ltd. (A Shares)
 
138,836
318,584
Sichuan Hebang Biotechnology Co. Ltd. (A Shares)
 
172,200
49,855
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares)
 
33,000
154,529
Sichuan Road & Bridge (Group) Co. Ltd. (A Shares)
 
156,940
157,034
Sichuan Swellfun Co. Ltd. (A Shares)
 
11,000
68,213
Sieyuan Electric Co. Ltd. (A Shares)
 
16,900
151,641
Silergy Corp.
 
124,000
1,643,932
Sinolink Securities Co. Ltd. (A Shares)
 
92,300
111,113
Sinoma International Engineering Co. Ltd. (A Shares)
 
60,700
106,171
Sinoma Science & Technology Co. Ltd. (A Shares)
 
36,000
76,995
Sinomine Resource Group Co. Ltd. (A Shares)
 
13,916
68,060
Sinopharm Group Co. Ltd. (H Shares)
 
491,600
1,241,468
Sinotruk Hong Kong Ltd.
 
248,500
618,445
SITC International Holdings Co. Ltd.
 
492,000
1,066,949
SKSHU Paint Co. Ltd. (A Shares)
 
11,424
53,471
Smoore International Holdings Ltd. (a)(d)
 
668,000
581,771
Songcheng Performance Development Co. Ltd. (A Shares)
 
60,860
91,042
Soochow Securities Co. Ltd. (A Shares)
 
96,649
91,004
Southwest Securities Co. Ltd. (A Shares)
 
132,600
72,431
Spring Airlines Co. Ltd. (A Shares) (b)
 
21,600
168,960
StarPower Semiconductor Ltd. (A Shares)
 
3,500
66,973
Sungrow Power Supply Co. Ltd. (A Shares)
 
33,100
470,082
Sunny Optical Technology Group Co. Ltd.
 
264,000
1,277,158
Sunresin New Materials Co. Ltd. (A Shares)
 
11,550
74,292
Sunwoda Electronic Co. Ltd. (A Shares)
 
36,300
75,997
SUPCON Technology Co. Ltd. (A Shares)
 
14,517
95,159
Suzhou Dongshan Precision Manufacturing Co. Ltd. (A Shares)
 
38,200
80,756
Suzhou Maxwell Technologies Co. Ltd. (A Shares)
 
6,176
97,504
Suzhou TFC Optical Communication Co. Ltd. (A Shares)
 
8,500
186,234
TAL Education Group ADR (b)
 
166,261
2,001,782
TBEA Co. Ltd. (A Shares)
 
102,700
199,983
TCL Technology Group Corp. (A Shares)
 
403,260
265,110
TCL Zhonghuan Renewable Energy Technology Co. Ltd. (A Shares)
 
88,500
127,020
Tencent Holdings Ltd.
 
2,494,100
109,449,090
Tencent Music Entertainment Group ADR (b)
 
285,337
3,580,979
Thunder Software Technology Co. Ltd. (A Shares)
 
10,300
69,023
Tianfeng Securities Co. Ltd. (A Shares) (b)
 
220,200
88,360
Tianjin 712 Communication & Broadcasting Co. Ltd.
 
16,700
50,914
Tianma Microelectronics Co. Ltd. (A Shares) (b)
 
49,300
55,062
Tianqi Lithium Corp. (A Shares)
 
32,800
177,889
Tianshan Aluminum Group Co. Ltd.
 
86,000
89,465
Tianshui Huatian Technology Co. Ltd. (A Shares)
 
63,000
70,891
Tingyi (Cayman Islands) Holding Corp.
 
712,000
785,832
Tongcheng Travel Holdings Ltd.
 
458,800
1,207,506
TongFu Microelectronics Co. Ltd. (A Shares)
 
34,800
99,110
Tongkun Group Co. Ltd. (A Shares) (b)
 
49,100
93,153
Tongling Nonferrous Metals Group Co. Ltd. (A Shares)
 
388,400
215,364
Tongwei Co. Ltd. (A Shares)
 
100,200
299,471
Topchoice Medical Corp. (b)
 
7,100
59,453
Topsports International Holdings Ltd. (d)
 
691,000
479,882
TravelSky Technology Ltd. (H Shares)
 
351,000
455,960
Trina Solar Co. Ltd. (A Shares)
 
48,382
141,578
Trip.com Group Ltd. (a)(b)
 
207,005
10,082,667
Tsinghua Tongfang Co. Ltd. (A Shares) (b)
 
80,700
67,332
Tsingtao Brewery Co. Ltd.:
 
 
 
 (A Shares) (b)
 
32,300
364,569
 (H Shares)
 
216,000
1,556,583
Unigroup Guoxin Microelectronics Co. Ltd. (b)
 
18,479
148,032
Unisplendour Corp. Ltd. (A Shares) (b)
 
62,220
178,082
Universal Scientific Industrial Shanghai Co. Ltd. (A Shares)
 
42,000
85,482
Verisilicon Microelectronics Shanghai Co. Ltd. (A Shares) (b)
 
11,098
50,199
Vipshop Holdings Ltd. ADR
 
129,182
1,942,897
Walvax Biotechnology Co. Ltd. (A Shares)
 
35,200
71,295
Wanda Film Holding Co. Ltd. (A Shares) (b)
 
49,900
100,530
Wanhua Chemical Group Co. Ltd. (A Shares)
 
69,200
847,792
Want Want China Holdings Ltd.
 
1,797,000
1,024,922
Weichai Power Co. Ltd.:
 
 
 
 (A Shares)
 
150,200
360,350
 (H Shares)
 
722,600
1,476,534
Weihai Guangwei Composites Co. Ltd. (A Shares)
 
17,920
64,256
Wens Foodstuffs Group Co. Ltd. (A Shares)
 
149,200
392,035
Western Mining Co. Ltd. (A Shares)
 
57,100
157,452
Western Securities Co. Ltd. (A Shares)
 
93,900
95,669
Western Superconducting Technologies Co. Ltd. (A Shares)
 
13,872
75,736
Wharf Holdings Ltd. (a)
 
397,000
1,277,291
Will Semiconductor Ltd.
 
25,650
358,427
Wilmar International Ltd.
 
706,793
1,661,369
Wingtech Technology Co. Ltd. (A Shares) (b)
 
26,800
115,861
Wintime Energy Group Co. Ltd. (A Shares) (b)
 
564,400
105,044
Wuchan Zhongda Group Co. Ltd.
 
106,200
69,064
Wuhan Guide Infrared Co. Ltd. (A Shares)
 
83,044
80,161
Wuliangye Yibin Co. Ltd. (A Shares)
 
91,600
1,894,394
WUS Printed Circuit Kunshan Co. Ltd. (A Shares)
 
42,530
193,425
WuXi AppTec Co. Ltd.
 
46,848
281,518
WuXi AppTec Co. Ltd. (H Shares) (d)
 
143,000
643,656
Wuxi Biologics (Cayman), Inc. (b)(d)
 
1,442,000
2,498,030
XCMG Construction Machinery Co. Ltd. (A Shares)
 
255,400
247,171
Xiamen C&D, Inc. (A Shares)
 
65,100
89,244
Xiamen Faratronic Co. Ltd. (A Shares)
 
4,800
65,170
Xiamen Tungsten Co. Ltd. (A Shares)
 
32,200
84,909
Xiaomi Corp. Class B (b)(d)
 
5,772,600
12,583,849
Xinjiang Daqo New Energy Co. Ltd. (A Shares) (b)
 
39,264
132,331
Xinyi Solar Holdings Ltd.
 
1,819,446
1,251,899
XPeng, Inc. Class A (a)(b)
 
439,326
1,781,098
Yadea Group Holdings Ltd. (d)
 
442,000
850,263
Yangzhou Yangjie Electronic Technology Co. Ltd. (A Shares)
 
11,600
60,604
Yankuang Energy Group Co. Ltd.:
 
 
 
 (A Shares)
 
133,450
425,132
 (H Shares)
 
773,000
1,676,924
Yantai Jereh Oilfield Services (A Shares)
 
24,000
105,271
Yealink Network Technology Corp. Ltd.
 
27,160
132,136
Yifeng Pharmacy Chain Co. Ltd.
 
21,719
131,375
Yihai Kerry Arawana Holdings Co. Ltd. (A Shares)
 
32,600
140,970
Yintai Gold Co. Ltd. (A Shares)
 
59,540
151,048
Yonghui Superstores Co. Ltd. (A Shares) (b)
 
202,500
67,774
YongXing Special Materials Technology Co. Ltd. (A Shares)
 
11,830
77,251
Yonyou Network Technology Co. Ltd. (A Shares)
 
77,030
123,237
Youngor Fashion Co. Ltd. (A Shares)
 
112,893
121,670
YTO Express Group Co. Ltd. (A Shares)
 
74,000
161,885
Yuexiu Property Co. Ltd.
 
593,920
354,463
Yum China Holdings, Inc.
 
153,940
5,620,349
Yunda Holding Co. Ltd. (A Shares)
 
64,620
69,816
Yunnan Aluminium Co. Ltd. (A Shares)
 
75,600
149,182
Yunnan Baiyao Group Co. Ltd. (A Shares)
 
38,080
300,454
Yunnan Botanee Bio-Technology Group Co., Ltd. (A Shares)
 
9,500
74,743
Yunnan Chihong Zinc & Germanium Co. Ltd. (A Shares) (b)
 
102,400
80,729
Yunnan Energy New Material Co. Ltd.
 
21,000
120,389
Yunnan Tin Co. Ltd. (A Shares)
 
39,200
88,892
Yunnan Yuntianhua Co. Ltd. (Series A)
 
41,500
115,701
Yutong Bus Co. Ltd. (b)
 
44,500
157,110
Zai Lab Ltd. (a)(b)
 
339,110
545,055
Zangge Mining Co. Ltd. (Series A)
 
30,700
121,656
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares)
 
13,198
432,038
Zhaojin Mining Industry Co. Ltd. (H Shares)
 
477,500
768,981
Zhejiang Century Huatong Group Co. Ltd. (A Shares) (b)
 
167,966
108,250
Zhejiang China Commodities City Group Co. Ltd. (A Shares)
 
125,300
151,248
Zhejiang Chint Electric Co. Ltd. (A Shares)
 
46,900
133,412
Zhejiang Dahua Technology Co. Ltd. (A Shares)
 
74,700
184,449
Zhejiang Dingli Machinery Co. Ltd. (A Shares)
 
11,000
99,388
Zhejiang Expressway Co. Ltd. (H Shares)
 
660,880
432,104
Zhejiang Huahai Pharmaceutical Co. Ltd. (A Shares)
 
33,860
78,266
Zhejiang Huayou Cobalt Co. Ltd. (A Shares)
 
34,110
133,420
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. (A Shares)
 
28,400
132,534
Zhejiang Juhua Co. Ltd. (A Shares)
 
57,500
187,583
Zhejiang Leapmotor Technology Co. Ltd. (H Shares) (a)(b)(d)
 
188,100
646,320
Zhejiang Longsheng Group Co. Ltd. (A Shares)
 
77,500
97,735
Zhejiang NHU Co. Ltd. (A Shares)
 
65,380
172,986
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares)
 
40,500
122,262
Zhejiang Supor Cookware Co. Ltd.
 
9,700
78,698
Zhejiang Weiming Enviroment Protection Co. Ltd. (A Shares)
 
35,600
107,965
Zhejiang Weixing New Building Materials Co. Ltd. (A Shares)
 
33,200
80,377
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) (b)
 
252,300
216,755
Zheshang Securities Co. Ltd.
 
76,900
119,487
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (b)(d)
 
262,600
441,673
Zhongji Innolight Co. Ltd. (A Shares)
 
17,700
446,165
Zhongjin Gold Co. Ltd. (A Shares)
 
107,400
193,356
Zhongsheng Group Holdings Ltd. Class H
 
302,000
550,783
Zhongtai Securities Co. Ltd. (A Shares)
 
132,800
121,767
Zhuzhou CRRC Times Electric Co. Ltd.:
 
 
 
 (A Shares)
 
27,044
177,699
 (H Shares)
 
166,900
598,172
Zijin Mining Group Co. Ltd.:
 
 
 
 (A Shares)
 
162,500
391,235
 (H Shares)
 
2,416,000
5,270,435
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares)
 
197,900
231,958
ZTE Corp.:
 
 
 
 (A Shares)
 
28,500
111,997
 (H Shares)
 
414,280
892,919
ZTO Express, Inc. sponsored ADR
 
163,273
3,427,100
TOTAL CHINA
 
 
746,316,451
Colombia - 0.0%
 
 
 
Bancolombia SA
 
101,022
870,391
Interconexion Electrica SA ESP
 
163,149
752,739
TOTAL COLOMBIA
 
 
1,623,130
Czech Republic - 0.0%
 
 
 
CEZ A/S
 
61,158
2,257,500
Komercni Banka A/S
 
30,184
1,113,529
MONETA Money Bank A/S (d)
 
117,594
474,483
TOTAL CZECH REPUBLIC
 
 
3,845,512
Denmark - 2.3%
 
 
 
A.P. Moller - Maersk A/S:
 
 
 
 Series A
 
889
1,266,929
 Series B
 
1,811
2,640,486
Carlsberg A/S Series B
 
36,964
4,972,134
Coloplast A/S Series B
 
47,723
5,753,732
Danske Bank A/S
 
258,771
7,479,252
Demant A/S (b)
 
37,096
1,785,559
DSV A/S
 
66,149
9,444,043
Genmab A/S (b)
 
24,876
6,906,327
Novo Nordisk A/S Series B
 
1,229,379
157,658,403
Novonesis (NOVOZYMES) B Series B
 
140,914
7,835,164
ORSTED A/S (b)(d)
 
71,068
3,922,066
Pandora A/S
 
31,745
4,857,886
Rockwool International A/S Series B
 
3,360
1,103,830
Svitzer A/S
 
5,400
181,458
Tryg A/S
 
131,318
2,602,347
Vestas Wind Systems A/S (b)
 
379,366
10,226,581
TOTAL DENMARK
 
 
228,636,197
Egypt - 0.0%
 
 
 
Commercial International Bank SAE
 
941,512
1,414,728
Eastern Co. SAE
 
374,340
172,110
EFG Holding SAE
 
342,651
105,982
TOTAL EGYPT
 
 
1,692,820
Finland - 0.6%
 
 
 
Elisa Corp. (A Shares)
 
53,284
2,406,513
Fortum Corp.
 
169,462
2,238,921
Kesko Oyj
 
103,735
1,774,617
Kone OYJ (B Shares)
 
127,613
6,237,438
Metso Corp.
 
251,356
2,863,538
Neste OYJ
 
159,098
3,623,306
Nokia Corp.
 
2,017,454
7,334,155
Nordea Bank Abp (Helsinki Stock Exchange)
 
1,198,509
14,044,436
Orion Oyj (B Shares)
 
41,148
1,571,651
Sampo Oyj (A Shares)
 
169,436
6,856,774
Stora Enso Oyj (R Shares)
 
219,392
2,938,396
UPM-Kymmene Corp.
 
200,548
7,045,697
Wartsila Corp.
 
178,613
3,309,090
TOTAL FINLAND
 
 
62,244,532
France - 6.4%
 
 
 
Accor SA
 
72,148
3,180,719
Adevinta ASA Class B (b)
 
129,182
1,318,741
Aeroports de Paris SA
 
12,894
1,644,377
Air Liquide SA
 
133,712
26,151,208
Air Liquide SA
 
55,300
10,815,498
Airbus Group NV
 
223,410
36,763,850
Alstom SA
 
105,755
1,667,552
Amundi SA (d)
 
22,605
1,586,157
Arkema SA
 
22,319
2,311,618
AXA SA
 
683,813
23,673,584
bioMerieux SA
 
15,267
1,629,294
BNP Paribas SA
 
389,589
28,035,547
Bollore SA
 
280,289
1,824,659
Bouygues SA
 
72,015
2,659,931
Bureau Veritas SA
 
119,683
3,502,239
Capgemini SA
 
58,732
12,344,355
Carrefour SA
 
217,185
3,653,752
Compagnie de St.-Gobain
 
171,109
13,531,746
Compagnie Generale des Etablissements Michelin SCA Series B
 
254,534
9,778,852
Covivio
 
18,907
945,520
Covivio rights (b)(c)
 
18,907
66,586
Credit Agricole SA
 
398,254
6,162,277
Danone SA
 
241,699
15,127,293
Dassault Aviation SA
 
7,572
1,625,865
Dassault Systemes SA
 
250,861
9,846,777
Edenred SA
 
93,920
4,456,289
Eiffage SA
 
27,471
2,940,500
Engie SA
 
485,706
8,432,156
Engie SA
 
202,100
3,508,581
EssilorLuxottica SA
 
111,301
23,851,110
Eurazeo SA
 
16,095
1,456,574
Gecina SA
 
17,102
1,752,120
Getlink SE
 
135,819
2,319,137
Hermes International SCA
 
11,931
28,661,450
Ipsen SA
 
13,870
1,688,916
Kering SA
 
27,958
9,846,137
Klepierre SA
 
82,140
2,214,287
L'Oreal SA
 
4,395
2,062,110
L'Oreal SA
 
25,300
11,870,620
L'Oreal SA
 
61,002
28,621,802
La Francaise des Jeux SAEM (d)
 
40,571
1,535,325
Legrand SA
 
99,994
10,276,042
LVMH Moet Hennessy Louis Vuitton SE
 
104,028
85,452,379
Orange SA
 
700,494
7,796,697
Pernod Ricard SA
 
76,818
11,641,184
Publicis Groupe SA
 
86,057
9,496,112
Remy Cointreau SA
 
8,559
811,990
Renault SA
 
71,673
3,575,116
Rexel SA
 
87,246
2,274,651
Safran SA
 
128,800
27,927,964
Sartorius Stedim Biotech
 
10,958
2,373,959
SEB SA
 
9,270
1,100,095
Societe Generale Series A
 
273,504
7,369,579
Sodexo SA
 
2,224
194,030
Sodexo SA
 
31,076
2,711,182
Teleperformance
 
21,710
1,980,479
Thales SA
 
35,825
6,038,814
TotalEnergies SE
 
818,229
59,402,379
Unibail-Rodamco-Westfield NV
 
44,847
3,756,109
Veolia Environnement SA
 
260,102
8,085,969
VINCI SA
 
188,834
22,126,824
Vivendi SA
 
247,982
2,531,607
Worldline SA (b)(d)
 
91,110
953,268
TOTAL FRANCE
 
 
632,941,540
Germany - 5.1%
 
 
 
adidas AG
 
60,887
14,711,157
Allianz SE
 
147,591
41,884,095
BASF AG
 
337,077
17,682,458
Bayer AG
 
368,944
10,768,708
Bayerische Motoren Werke AG (BMW)
 
119,985
13,118,517
Bechtle AG
 
30,014
1,451,002
Beiersdorf AG
 
38,051
5,707,458
Brenntag SE
 
50,656
4,046,938
Carl Zeiss Meditec AG
 
15,293
1,617,380
Commerzbank AG
 
396,122
5,901,470
Continental AG
 
40,978
2,660,638
Covestro AG (b)(d)
 
71,685
3,594,075
Daimler Truck Holding AG
 
200,682
9,061,441
Deutsche Bank AG
 
726,786
11,642,147
Deutsche Borse AG
 
71,722
13,827,427
Deutsche Lufthansa AG
 
230,512
1,651,660
Deutsche Telekom AG
 
1,220,798
27,963,069
DHL Group
 
373,960
15,657,680
E.ON SE
 
845,330
11,186,489
Evonik Industries AG
 
86,917
1,812,952
Fresenius Medical Care AG & Co. KGaA
 
76,427
3,217,784
Fresenius SE & Co. KGaA
 
159,213
4,752,442
GEA Group AG
 
60,965
2,465,844
Hannover Reuck SE
 
22,657
5,619,328
HeidelbergCement AG
 
49,308
4,980,099
Henkel AG & Co. KGaA
 
38,395
2,760,927
Infineon Technologies AG
 
492,991
17,108,279
Knorr-Bremse AG
 
27,575
2,046,218
LEG Immobilien AG
 
27,431
2,339,607
Mercedes-Benz Group AG (Germany)
 
302,509
22,882,044
Merck KGaA
 
48,580
7,722,250
MTU Aero Engines AG
 
20,248
4,896,524
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
51,423
22,620,970
Nemetschek SE
 
21,959
1,957,965
Puma AG
 
39,995
1,846,609
Rational AG
 
1,875
1,608,804
Rheinmetall AG
 
16,408
9,056,491
RWE AG
 
237,629
8,277,930
SAP SE
 
393,429
71,040,314
Scout24 AG (d)
 
28,438
2,097,118
Siemens AG
 
286,399
53,652,147
Siemens Energy AG (b)
 
194,094
3,997,746
Siemens Healthineers AG (d)
 
105,980
5,877,380
Symrise AG
 
50,040
5,377,651
Talanx AG
 
24,379
1,839,421
Volkswagen AG
 
10,819
1,527,351
Vonovia SE
 
275,404
7,958,081
Zalando SE (b)(d)
 
85,270
2,231,112
TOTAL GERMANY
 
 
497,705,197
Greece - 0.1%
 
 
 
Alpha Bank SA (b)
 
832,869
1,415,474
Eurobank Ergasias Services and Holdings SA (b)
 
966,298
2,072,779
Ff Group (b)(e)
 
5,453
0
Hellenic Telecommunications Organization SA
 
71,705
1,092,757
Jumbo SA
 
44,640
1,390,130
Motor Oil (HELLAS) Corinth Refineries SA
 
23,651
685,528
Mytilineos SA
 
37,183
1,515,841
National Bank of Greece SA (b)
 
298,095
2,405,040
OPAP SA
 
69,191
1,152,652
Piraeus Financial Holdings SA (b)
 
400,506
1,604,408
Public Power Corp. of Greece (b)
 
77,397
928,402
TOTAL GREECE
 
 
14,263,011
Hong Kong - 1.1%
 
 
 
AIA Group Ltd.
 
4,289,695
31,419,262
CK Asset Holdings Ltd.
 
737,471
3,145,739
CK Infrastructure Holdings Ltd.
 
240,136
1,356,562
CLP Holdings Ltd.
 
619,108
4,869,942
Futu Holdings Ltd. ADR (b)
 
20,212
1,299,834
Hang Lung Properties Ltd.
 
669,998
739,485
Hang Seng Bank Ltd.
 
291,050
3,837,954
Henderson Land Development Co. Ltd. (a)
 
540,059
1,628,183
HKT Trust/HKT Ltd. unit
 
1,444,557
1,594,759
Hong Kong & China Gas Co. Ltd.
 
4,247,468
3,229,572
Hong Kong Exchanges and Clearing Ltd. (a)
 
453,102
14,397,056
Hongkong Land Holdings Ltd.
 
408,667
1,305,765
Jardine Matheson Holdings Ltd.
 
59,519
2,277,742
Jinmao Property Services Co. Ltd.
 
316
98
Link (REIT)
 
966,350
4,140,612
MTR Corp. Ltd.
 
584,818
1,921,968
Orient Overseas International Ltd. (a)
 
48,500
707,374
Power Assets Holdings Ltd.
 
514,354
2,950,414
Prudential PLC
 
1,034,258
8,995,304
Sino Biopharmaceutical Ltd.
 
3,856,250
1,317,676
Sino Land Ltd.
 
1,416,952
1,515,005
Sun Hung Kai Properties Ltd.
 
544,062
5,018,950
Swire Pacific Ltd. (A Shares)
 
158,004
1,338,090
Swire Properties Ltd.
 
454,355
939,682
Techtronic Industries Co. Ltd.
 
517,347
7,149,375
WH Group Ltd. (d)
 
3,075,946
2,235,721
Wharf Real Estate Investment Co. Ltd.
 
632,654
1,962,817
TOTAL HONG KONG
 
 
111,294,941
Hungary - 0.1%
 
 
 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
169,261
1,389,059
OTP Bank PLC
 
84,729
4,204,368
Richter Gedeon PLC
 
53,700
1,367,472
TOTAL HUNGARY
 
 
6,960,899
India - 5.0%
 
 
 
ABB India Ltd.
 
19,618
1,535,712
Adani Enterprises Ltd.
 
64,363
2,351,169
Adani Green Energy Ltd. (b)
 
119,193
2,560,568
Adani Ports & Special Economic Zone Ltd.
 
198,551
3,144,557
Adani Power Ltd. (b)
 
290,834
2,126,794
Ambuja Cements Ltd.
 
219,608
1,627,599
APL Apollo Tubes Ltd.
 
61,649
1,147,848
Apollo Hospitals Enterprise Ltd.
 
37,459
2,663,515
Ashok Leyland Ltd.
 
550,451
1,267,285
Asian Paints Ltd.
 
144,225
4,959,630
Astral Ltd.
 
52,348
1,324,511
AU Small Finance Bank Ltd. (d)
 
59,605
451,479
Aurobindo Pharma Ltd.
 
98,231
1,355,310
Avenue Supermarts Ltd. (b)(d)
 
61,451
3,389,901
Axis Bank Ltd.
 
856,819
11,956,160
Bajaj Auto Ltd.
 
25,132
2,682,274
Bajaj Finance Ltd.
 
105,246
8,727,904
Bajaj Finserv Ltd.
 
144,038
2,781,650
Bajaj Holdings & Investment Ltd.
 
9,960
967,239
Balkrishna Industries Ltd.
 
28,506
828,040
Bandhan Bank Ltd. (d)
 
315,630
710,372
Bank of Baroda
 
394,769
1,326,961
Berger Paints India Ltd.
 
109,003
663,797
Bharat Electronics Ltd.
 
1,384,033
3,869,172
Bharat Forge Ltd.
 
95,252
1,448,961
Bharat Heavy Electricals Ltd.
 
402,576
1,353,770
Bharat Petroleum Corp. Ltd.
 
288,540
2,098,988
Bharti Airtel Ltd.
 
850,183
13,453,454
Britannia Industries Ltd.
 
41,735
2,384,694
Cg Power & Industrial Soluti
 
226,053
1,496,370
Cholamandalam Investment and Finance Co. Ltd.
 
158,674
2,264,294
Cipla Ltd./India (b)
 
198,655
3,324,597
Coal India Ltd.
 
581,244
3,159,293
Colgate-Palmolive Ltd.
 
50,704
1,715,417
Container Corp. of India Ltd.
 
95,713
1,175,299
Cummins India Ltd.
 
51,860
2,029,947
Dabur India Ltd.
 
231,948
1,409,403
Divi's Laboratories Ltd.
 
45,485
2,177,305
DLF Ltd.
 
283,137
3,015,858
Dr. Reddy's Laboratories Ltd.
 
44,395
3,293,511
Eicher Motors Ltd.
 
52,089
2,866,873
GAIL India Ltd.
 
851,996
2,127,782
GMR Airports Infrastructure Ltd. (b)
 
931,578
947,228
Godrej Consumer Products Ltd.
 
157,419
2,296,792
Godrej Properties Ltd. (b)
 
46,453
1,467,796
Grasim Industries Ltd.
 
100,060
2,884,224
Havells India Ltd.
 
92,674
1,843,925
HCL Technologies Ltd.
 
356,047
5,807,252
HDFC Asset Management Co. Ltd. (d)
 
36,977
1,723,339
HDFC Bank Ltd.
 
1,060,340
19,250,924
HDFC Standard Life Insurance Co. Ltd. (d)
 
361,721
2,524,112
Hero Motocorp Ltd.
 
45,790
2,484,411
Hindalco Industries Ltd.
 
514,455
3,955,431
Hindustan Aeronautics Ltd.
 
74,401
3,510,104
Hindustan Petroleum Corp. Ltd.
 
210,740
1,249,696
Hindustan Unilever Ltd.
 
309,262
8,257,150
ICICI Bank Ltd.
 
1,958,197
26,974,222
ICICI Lombard General Insurance Co. Ltd. (d)
 
91,864
1,876,979
ICICI Prudential Life Insurance Co. Ltd. (d)
 
134,020
917,215
IDFC Bank Ltd. (b)
 
1,275,670
1,251,639
Indian Oil Corp. Ltd.
 
1,048,844
2,117,416
Indian Railway Catering & Tourism Corp. Ltd.
 
90,507
1,123,534
Indraprastha Gas Ltd.
 
111,425
624,959
IndusInd Bank Ltd.
 
106,253
1,925,866
Info Edge India Ltd.
 
26,180
1,892,896
Infosys Ltd.
 
1,253,989
21,166,981
InterGlobe Aviation Ltd. (b)(d)
 
65,436
3,119,360
ITC Ltd.
 
1,123,922
5,858,727
Jindal Steel & Power Ltd.
 
139,811
1,552,304
Jio Financial Services Ltd.
 
1,081,876
4,870,463
JSW Steel Ltd.
 
232,224
2,446,004
Jubilant Foodworks Ltd.
 
147,334
816,010
Kotak Mahindra Bank Ltd.
 
410,438
7,974,755
Larsen & Toubro Ltd.
 
252,700
10,859,452
Ltimindtree Ltd. (d)
 
33,720
1,893,375
Lupin Ltd.
 
87,384
1,720,105
Macrotech Developers Ltd. (d)
 
89,269
1,321,919
Mahindra & Mahindra Ltd.
 
351,066
9,052,784
Marico Ltd.
 
192,680
1,195,384
Maruti Suzuki India Ltd.
 
53,567
8,215,875
Max Healthcare Institute Ltd.
 
293,992
2,953,470
Mphasis BFL Ltd.
 
27,939
771,423
MRF Ltd.
 
906
1,441,729
Muthoot Finance Ltd.
 
44,676
918,707
Nestle India Ltd.
 
127,495
3,825,994
NMDC Ltd.
 
398,963
1,210,378
NTPC Ltd.
 
1,642,525
7,136,278
Oil & Natural Gas Corp. Ltd.
 
1,183,858
3,995,279
One97 Communications Ltd. (b)
 
97,891
436,185
Page Industries Ltd.
 
2,248
935,541
Persistent Systems Ltd.
 
37,070
1,490,828
Petronet LNG Ltd.
 
280,057
1,039,220
PI Industries Ltd.
 
31,083
1,358,098
Pidilite Industries Ltd.
 
58,129
2,119,611
Polycab India Ltd.
 
16,622
1,127,658
Power Finance Corp. Ltd.
 
558,673
2,944,068
Power Grid Corp. of India Ltd.
 
1,748,355
6,304,134
Punjab National Bank
 
844,874
1,424,483
REC Ltd.
 
495,357
2,999,869
Reliance Industries Ltd.
 
1,147,474
40,269,772
Samvardhana Motherson International Ltd.
 
866,702
1,356,964
SBI Cards & Payment Services Ltd.
 
103,966
905,138
SBI Life Insurance Co. Ltd. (d)
 
170,449
2,931,639
Shree Cement Ltd.
 
3,365
984,888
Shriram Finance Ltd.
 
106,521
3,249,043
Siemens Ltd.
 
32,802
2,291,176
Sona Blw Precision Forgings Ltd. (d)
 
150,727
1,126,351
SRF Ltd.
 
55,178
1,727,889
State Bank of India
 
669,319
6,609,622
Sun Pharmaceutical Industries Ltd.
 
361,457
6,491,790
Supreme Industries Ltd.
 
24,107
1,459,620
Suzlon Energy Ltd. (b)
 
3,258,553
1,614,272
Tata Communications Ltd.
 
42,266
874,535
Tata Consultancy Services Ltd.
 
342,005
15,604,708
Tata Consumer Products Ltd.
 
218,425
2,891,619
Tata Elxsi Ltd.
 
12,684
1,070,532
Tata Motors Ltd.
 
619,934
7,473,695
Tata Motors Ltd. Class A
 
177,169
1,444,733
Tata Power Co. Ltd./The
 
544,797
2,922,962
Tata Steel Ltd.
 
2,777,153
5,472,721
Tech Mahindra Ltd.
 
203,161
3,059,487
The Indian Hotels Co. Ltd.
 
315,462
2,173,203
Titan Co. Ltd.
 
133,122
5,710,284
Torrent Pharmaceuticals Ltd.
 
38,045
1,201,475
Trent Ltd.
 
68,449
3,612,047
Tube Investments of India Ltd.
 
39,335
1,764,012
Tvs Motor Co. Ltd.
 
89,966
2,214,551
Ultratech Cement Ltd.
 
43,469
5,182,830
Union Bank of India Ltd.
 
570,236
1,050,812
United Spirits Ltd.
 
107,907
1,517,570
UPL Ltd.
 
170,096
1,032,022
Varun Beverages Ltd.
 
170,943
3,023,089
Vedanta Ltd.
 
345,970
1,650,728
Wipro Ltd.
 
493,471
2,716,833
Yes Bank Ltd. (b)
 
4,755,890
1,487,055
Zomato Ltd. (b)
 
2,306,995
5,322,863
TOTAL INDIA
 
 
490,111,354
Indonesia - 0.5%
 
 
 
Amman Mineral Internasional PT
 
2,409,000
1,434,464
PT Adaro Energy Indonesia Tbk
 
5,270,100
875,879
PT Aneka Tambang Tbk
 
2,924,000
293,921
PT Astra International Tbk
 
7,672,900
2,421,225
PT Bank Central Asia Tbk
 
20,955,400
12,600,159
PT Bank Mandiri (Persero) Tbk
 
14,023,900
5,927,582
PT Bank Negara Indonesia (Persero) Tbk
 
5,664,900
1,822,608
PT Bank Rakyat Indonesia (Persero) Tbk
 
25,626,954
7,757,371
PT Barito Pacific Tbk
 
10,390,157
649,308
PT Charoen Pokphand Indonesia Tbk
 
2,851,000
867,406
PT GoTo Gojek Tokopedia Tbk (b)
 
311,459,912
1,197,961
PT Indah Kiat Pulp & Paper Tbk
 
936,900
539,240
PT Indofood CBP Sukses Makmur Tbk
 
921,300
615,814
PT Indofood Sukses Makmur Tbk
 
1,604,700
616,212
PT Kalbe Farma Tbk
 
8,208,000
728,604
PT Merdeka Copper Gold Tbk (b)
 
3,624,195
583,699
PT Sarana Menara Nusantara Tbk
 
7,660,100
378,465
PT Semen Indonesia (Persero) Tbk
 
1,262,533
362,153
PT Sumber Alfaria Trijaya Tbk
 
7,030,000
1,264,338
PT Surya Citra Media Tbk
 
20
0
PT Telkom Indonesia Persero Tbk
 
18,703,300
3,625,794
PT Unilever Indonesia Tbk
 
2,796,100
450,306
PT United Tractors Tbk
 
547,700
834,747
TOTAL INDONESIA
 
 
45,847,256
Ireland - 0.3%
 
 
 
AerCap Holdings NV (b)
 
75,327
6,364,378
AIB Group PLC
 
590,781
3,067,923
Bank of Ireland Group PLC
 
396,745
4,253,116
Kerry Group PLC Class A
 
59,949
5,169,388
Kingspan Group PLC (Ireland)
 
58,067
5,196,109
Smurfit Kappa Group PLC
 
98,171
4,269,300
TOTAL IRELAND
 
 
28,320,214
Israel - 0.4%
 
 
 
Azrieli Group
 
15,541
1,005,566
Bank Hapoalim BM (Reg.)
 
482,568
4,366,991
Bank Leumi le-Israel BM
 
575,970
4,510,289
Check Point Software Technologies Ltd. (b)
 
35,202
5,259,883
Elbit Systems Ltd. (Israel)
 
10,135
2,069,445
Global-e Online Ltd. (a)(b)
 
37,425
1,254,860
Icl Group Ltd.
 
294,784
1,388,183
Israel Discount Bank Ltd. (Class A)
 
457,335
2,356,559
Mizrahi Tefahot Bank Ltd.
 
59,306
2,166,726
NICE Ltd. (b)
 
23,478
5,254,494
NICE Ltd. sponsored ADR (b)
 
360
80,464
Teva Pharmaceutical Industries Ltd. sponsored ADR (b)
 
421,737
5,925,405
Wix.com Ltd. (b)
 
20,138
2,393,804
TOTAL ISRAEL
 
 
38,032,669
Italy - 1.5%
 
 
 
Amplifon SpA
 
47,308
1,586,809
Assicurazioni Generali SpA
 
380,320
9,294,595
Banco BPM SpA
 
457,462
3,019,050
Coca-Cola HBC AG
 
82,272
2,662,597
Davide Campari Milano NV
 
231,031
2,322,560
DiaSorin SpA
 
8,238
834,674
Enel SpA
 
3,061,227
20,119,727
Eni SpA
 
827,136
13,285,203
Ferrari NV (Italy)
 
47,503
19,629,182
FinecoBank SpA
 
230,145
3,546,619
Infrastrutture Wireless Italiane SpA (d)
 
127,581
1,372,437
Intesa Sanpaolo SpA
 
5,511,395
20,629,173
Leonardo SpA
 
153,125
3,534,666
Mediobanca SpA
 
193,599
2,758,228
Moncler SpA
 
77,448
5,299,679
Nexi SpA (b)(d)
 
222,705
1,301,961
Poste Italiane SpA (d)
 
172,023
2,188,309
Prysmian SpA
 
99,092
5,412,335
Recordati SpA
 
39,905
2,131,460
Snam SpA
 
751,618
3,438,857
Telecom Italia SpA (b)
 
1,940,517
461,608
Telecom Italia SpA (Risparmio Shares) (b)
 
1,667,908
411,712
Terna - Rete Elettrica Nazionale
 
526,250
4,225,584
UniCredit SpA
 
580,584
21,309,966
TOTAL ITALY
 
 
150,776,991
Japan - 14.4%
 
 
 
Advantest Corp.
 
287,848
9,009,836
AEON Co. Ltd.
 
245,242
5,127,593
AGC, Inc.
 
74,773
2,764,675
Aisin Seiki Co. Ltd.
 
55,762
2,120,978
Ajinomoto Co., Inc.
 
177,561
6,601,980
Ana Holdings, Inc.
 
58,356
1,108,298
Asahi Group Holdings
 
180,849
6,186,661
ASAHI INTECC Co. Ltd.
 
80,492
1,179,424
Asahi Kasei Corp.
 
472,130
3,291,754
Astellas Pharma, Inc.
 
681,130
6,537,419
Azbil Corp.
 
47,122
1,316,118
Bandai Namco Holdings, Inc.
 
226,294
4,228,344
Bridgestone Corp.
 
213,920
9,439,650
Brother Industries Ltd.
 
90,221
1,595,916
Canon, Inc.
 
377,583
10,219,394
Capcom Co. Ltd.
 
130,748
2,152,431
Central Japan Railway Co.
 
291,810
6,673,107
Chiba Bank Ltd.
 
195,532
1,651,672
Chubu Electric Power Co., Inc.
 
242,944
3,118,420
Chugai Pharmaceutical Co. Ltd.
 
252,160
8,019,664
Concordia Financial Group Ltd.
 
402,015
2,166,112
Dai Nippon Printing Co. Ltd.
 
75,838
2,208,867
Dai-ichi Mutual Life Insurance Co.
 
353,165
8,179,670
Daifuku Co. Ltd.
 
112,703
2,308,586
Daiichi Sankyo Kabushiki Kaisha
 
697,173
23,465,248
Daikin Industries Ltd.
 
99,646
13,600,815
Daito Trust Construction Co. Ltd.
 
22,365
2,397,403
Daiwa House Industry Co. Ltd.
 
222,259
6,254,127
Daiwa Securities Group, Inc.
 
502,844
3,695,431
DENSO Corp.
 
710,500
12,109,139
Dentsu Group, Inc.
 
76,814
2,078,063
Disco Corp.
 
34,587
9,851,961
East Japan Railway Co.
 
340,185
6,235,241
Eisai Co. Ltd.
 
95,348
3,915,853
ENEOS Holdings, Inc.
 
1,084,705
5,011,570
FANUC Corp.
 
357,750
10,596,304
Fast Retailing Co. Ltd.
 
65,974
17,250,160
Fuji Electric Co. Ltd.
 
48,325
3,006,005
FUJIFILM Holdings Corp.
 
419,859
8,931,445
Fujitsu Ltd.
 
660,940
10,210,303
GLP J-REIT
 
1,750
1,423,296
Hamamatsu Photonics K.K.
 
53,742
1,969,197
Hankyu Hanshin Holdings, Inc.
 
85,821
2,250,075
Hikari Tsushin, Inc.
 
7,622
1,238,742
Hirose Electric Co. Ltd.
 
11,515
1,222,269
Hitachi Construction Machinery Co. Ltd.
 
41,209
1,177,023
Hitachi Ltd.
 
349,456
32,241,054
Honda Motor Co. Ltd.
 
1,741,827
19,817,779
Hoshizaki Corp.
 
41,100
1,416,253
Hoya Corp.
 
132,470
15,358,549
Hulic Co. Ltd.
 
143,094
1,318,562
Ibiden Co. Ltd.
 
42,105
1,600,559
Idemitsu Kosan Co. Ltd.
 
364,425
2,469,023
Iida Group Holdings Co. Ltd.
 
57,340
731,998
INPEX Corp.
 
364,806
5,464,722
Isuzu Motors Ltd.
 
220,045
2,788,598
Itochu Corp.
 
448,322
20,225,945
Japan Airlines Co. Ltd.
 
52,540
930,944
Japan Exchange Group, Inc.
 
190,108
4,452,429
Japan Post Bank Co. Ltd.
 
542,390
5,505,427
Japan Post Holdings Co. Ltd.
 
777,630
7,467,815
Japan Post Insurance Co. Ltd.
 
70,716
1,327,628
Japan Real Estate Investment Corp.
 
481
1,631,139
Japan Retail Fund Investment Corp.
 
2,652
1,601,088
Japan Tobacco, Inc.
 
449,881
12,102,526
JFE Holdings, Inc.
 
216,542
3,232,046
Kajima Corp.
 
157,344
3,014,252
Kansai Electric Power Co., Inc.
 
267,494
4,006,905
Kao Corp.
 
175,305
7,231,722
Kawasaki Kisen Kaisha Ltd.
 
149,100
2,100,802
KDDI Corp.
 
564,787
15,672,160
KDX Realty Investment Corp.
 
1,526
1,505,151
Keisei Electric Railway Co.
 
52,230
1,945,722
Keyence Corp.
 
73,320
32,243,926
Kikkoman Corp.
 
252,365
3,007,032
Kintetsu Group Holdings Co. Ltd.
 
68,270
1,755,126
Kirin Holdings Co. Ltd.
 
290,708
4,243,638
Kobe Bussan Co. Ltd.
 
55,821
1,205,582
Koito Manufacturing Co. Ltd.
 
79,004
1,062,662
Komatsu Ltd.
 
347,463
10,373,907
Konami Group Corp.
 
38,092
2,298,369
Kubota Corp.
 
377,125
6,048,985
Kyocera Corp.
 
482,868
5,885,506
Kyowa Hakko Kirin Co., Ltd.
 
104,163
1,749,298
Lasertec Corp.
 
28,374
6,120,426
LY Corp.
 
1,002,196
2,407,910
M3, Inc.
 
169,734
1,795,477
Makita Corp.
 
84,520
2,446,930
Marubeni Corp.
 
536,929
9,566,122
MatsukiyoCocokara & Co.
 
129,700
1,839,241
Mazda Motor Corp.
 
215,772
2,442,426
McDonald's Holdings Co. (Japan) Ltd. (a)
 
32,868
1,445,820
Meiji Holdings Co. Ltd.
 
87,526
1,958,340
Minebea Mitsumi, Inc.
 
136,860
2,563,436
Misumi Group, Inc.
 
108,075
1,757,068
Mitsubishi Chemical Holdings Corp.
 
484,762
2,828,037
Mitsubishi Corp.
 
1,300,042
29,731,417
Mitsubishi Electric Corp.
 
725,796
12,650,571
Mitsubishi Estate Co. Ltd.
 
421,967
7,732,425
Mitsubishi Heavy Industries Ltd.
 
1,205,010
10,774,135
Mitsubishi UFJ Financial Group, Inc.
 
4,184,157
41,679,880
Mitsubishi UFJ Lease & Finance Co. Ltd.
 
297,899
1,929,208
Mitsui & Co. Ltd.
 
488,104
23,563,560
Mitsui Chemicals, Inc.
 
64,743
1,842,774
Mitsui Fudosan Co. Ltd.
 
1,001,418
10,191,494
Mitsui OSK Lines Ltd.
 
130,200
4,132,494
Mizuho Financial Group, Inc.
 
910,414
17,597,490
MonotaRO Co. Ltd.
 
94,950
1,137,964
MS&AD Insurance Group Holdings, Inc.
 
482,811
8,680,481
Murata Manufacturing Co. Ltd.
 
651,598
11,906,111
NEC Corp.
 
92,356
6,686,758
Nexon Co. Ltd.
 
129,179
2,014,075
Nidec Corp.
 
156,941
7,349,997
Nintendo Co. Ltd.
 
391,710
19,103,307
Nippon Building Fund, Inc.
 
577
2,204,598
Nippon Express Holdings, Inc.
 
28,473
1,456,630
Nippon Paint Holdings Co. Ltd.
 
356,710
2,283,307
Nippon Prologis REIT, Inc.
 
854
1,473,669
Nippon Sanso Holdings Corp.
 
63,947
1,899,380
Nippon Steel & Sumitomo Metal Corp.
 
321,624
7,210,464
Nippon Telegraph & Telephone Corp.
 
11,258,925
12,155,838
Nippon Yusen KK (a)
 
174,153
4,944,285
Nissan Chemical Corp.
 
46,522
1,585,850
Nissan Motor Co. Ltd.
 
914,471
3,346,692
Nissin Food Holdings Co. Ltd.
 
74,289
1,982,443
Nitori Holdings Co. Ltd.
 
30,280
4,052,465
Nitto Denko Corp.
 
54,255
4,486,112
Nomura Holdings, Inc.
 
1,128,006
6,418,339
Nomura Real Estate Holdings, Inc.
 
40,814
1,142,675
Nomura Real Estate Master Fund, Inc.
 
1,566
1,496,972
Nomura Research Institute Ltd.
 
145,524
3,521,375
NTT Data Corp.
 
237,315
3,711,090
Obayashi Corp.
 
245,743
2,742,688
OBIC Co. Ltd.
 
26,269
3,374,688
Odakyu Electric Railway Co. Ltd.
 
117,990
1,326,524
Olympus Corp.
 
452,248
6,299,689
OMRON Corp.
 
65,384
2,244,136
Ono Pharmaceutical Co. Ltd.
 
139,265
2,005,885
Oracle Corp. Japan
 
14,238
1,068,485
Oriental Land Co. Ltd.
 
411,785
11,361,863
ORIX Corp.
 
440,096
9,006,748
Osaka Gas Co. Ltd.
 
142,375
3,165,834
Otsuka Corp.
 
84,208
1,674,739
Otsuka Holdings Co. Ltd.
 
157,585
6,737,840
Pan Pacific International Holdings Ltd.
 
143,508
3,370,433
Panasonic Holdings Corp.
 
829,480
7,240,080
Rakuten Group, Inc. (b)
 
565,050
2,717,577
Recruit Holdings Co. Ltd.
 
543,336
23,400,047
Renesas Electronics Corp.
 
551,767
8,958,352
Resona Holdings, Inc.
 
799,943
5,058,638
Ricoh Co. Ltd.
 
208,262
1,796,688
ROHM Co. Ltd.
 
125,648
1,806,172
SBI Holdings, Inc. Japan
 
92,564
2,253,761
Screen Holdings Co. Ltd.
 
30,800
3,177,856
SCSK Corp.
 
59,756
1,086,316
Secom Co. Ltd.
 
78,806
5,474,062
Seiko Epson Corp.
 
109,162
1,795,714
Sekisui Chemical Co. Ltd.
 
144,952
2,108,768
Sekisui House Ltd.
 
223,908
5,145,486
Seven & i Holdings Co. Ltd.
 
848,520
10,963,897
SG Holdings Co. Ltd.
 
121,216
1,418,844
Sharp Corp. (b)
 
93,013
488,241
Shimadzu Corp.
 
90,021
2,445,696
SHIMANO, Inc.
 
28,974
4,708,652
SHIMIZU Corp.
 
193,043
1,195,797
Shin-Etsu Chemical Co. Ltd.
 
679,045
26,285,112
Shionogi & Co. Ltd.
 
93,460
4,364,654
Shiseido Co. Ltd.
 
150,894
4,039,170
Shizuoka Financial Group
 
177,412
1,655,936
SMC Corp.
 
21,657
11,377,866
SoftBank Corp.
 
1,083,329
13,066,774
SoftBank Group Corp.
 
387,742
19,069,383
Sompo Holdings, Inc.
 
337,137
6,671,986
Sony Group Corp.
 
475,442
39,295,932
Square Enix Holdings Co. Ltd.
 
33,192
1,199,796
Subaru Corp.
 
228,505
5,102,286
Sumco Corp.
 
135,464
2,020,218
Sumitomo Corp.
 
389,261
10,236,462
Sumitomo Electric Industries Ltd.
 
268,632
4,152,062
Sumitomo Metal Mining Co. Ltd.
 
93,328
3,117,962
Sumitomo Mitsui Financial Group, Inc.
 
478,985
27,208,175
Sumitomo Mitsui Trust Holdings, Inc.
 
246,254
5,177,449
Sumitomo Realty & Development Co. Ltd.
 
107,508
3,720,198
Suntory Beverage & Food Ltd.
 
51,537
1,676,769
Suzuki Motor Corp.
 
594,256
6,920,578
Sysmex Corp.
 
189,795
3,034,893
T&D Holdings, Inc.
 
186,027
3,035,464
Taisei Corp.
 
64,187
2,349,913
Takeda Pharmaceutical Co. Ltd.
 
596,746
15,683,721
TDK Corp.
 
146,284
6,525,875
Terumo Corp.
 
505,670
8,578,252
TIS, Inc.
 
83,620
1,785,837
Tobu Railway Co. Ltd.
 
69,486
1,378,635
Toho Co. Ltd.
 
41,413
1,387,434
Tokio Marine Holdings, Inc.
 
679,463
21,475,376
Tokyo Electric Power Co., Inc. (b)
 
573,866
3,569,607
Tokyo Electron Ltd.
 
177,744
38,987,421
Tokyo Gas Co. Ltd.
 
138,962
3,116,538
Tokyu Corp.
 
184,281
2,181,437
Toppan Holdings, Inc.
 
87,758
2,081,967
Toray Industries, Inc.
 
519,353
2,373,818
Toto Ltd.
 
55,339
1,497,722
Toyota Industries Corp.
 
55,142
5,239,972
Toyota Motor Corp.
 
3,994,965
91,119,542
Toyota Tsusho Corp.
 
79,811
5,074,379
Trend Micro, Inc.
 
50,530
2,490,028
Unicharm Corp.
 
151,497
4,501,453
USS Co. Ltd.
 
153,434
1,172,128
West Japan Railway Co.
 
164,118
3,115,197
Yakult Honsha Co. Ltd.
 
97,254
1,902,264
Yamaha Corp.
 
48,632
1,024,831
Yamaha Motor Co. Ltd.
 
334,734
3,122,139
Yamato Holdings Co. Ltd.
 
101,002
1,333,902
Yaskawa Electric Corp.
 
90,435
3,726,160
Yokogawa Electric Corp.
 
85,423
1,887,490
Zensho Holdings Co. Ltd.
 
36,700
1,422,463
ZOZO, Inc.
 
52,307
1,126,613
TOTAL JAPAN
 
 
1,414,660,061
Jordan - 0.0%
 
 
 
Hikma Pharmaceuticals PLC
 
63,594
1,528,885
Korea (South) - 3.1%
 
 
 
AMOREPACIFIC Corp.
 
10,754
1,307,085
Celltrion Pharm, Inc.
 
6,746
464,382
Celltrion, Inc.
 
57,693
7,811,879
CJ CheilJedang Corp.
 
2,984
721,258
Cosmo AM&T Co. Ltd. (b)
 
8,945
963,342
Coway Co. Ltd.
 
21,717
867,687
Db Insurance Co. Ltd.
 
17,632
1,233,333
Delivery Hero AG (b)(d)
 
65,045
1,819,799
Doosan Bobcat, Inc.
 
19,899
741,642
Doosan Heavy Industries & Construction Co. Ltd. (b)
 
175,241
2,110,003
Ecopro BM Co. Ltd.
 
18,377
3,115,064
Ecopro Co. Ltd.
 
37,570
2,831,942
Ecopro Materials Co. Ltd.
 
5,250
433,638
GS Holdings Corp.
 
17,737
571,863
Hana Financial Group, Inc.
 
111,215
4,677,563
Hanjin Kal Corp.
 
10,346
442,789
Hankook Tire Co. Ltd.
 
29,117
1,232,043
Hanmi Pharm Co. Ltd.
 
2,533
575,410
Hanmi Semiconductor Co. Ltd.
 
15,901
1,509,961
Hanon Systems
 
66,957
267,403
Hanwha Aerospace Co. Ltd.
 
13,496
2,044,258
Hanwha Ocean Co. Ltd. (b)
 
30,030
689,548
Hanwha Solutions Corp.
 
41,496
753,122
HD Hyundai Co. Ltd.
 
16,184
781,322
HD Hyundai Heavy Industries Co. Ltd. (b)
 
8,119
800,723
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (b)
 
15,571
1,466,043
HLB, Inc.
 
43,953
3,502,016
HMM Co. Ltd.
 
89,876
1,023,253
HYBE Co. Ltd.
 
7,681
1,111,059
Hyundai Engineering & Construction Co. Ltd.
 
28,875
733,537
Hyundai Glovis Co. Ltd.
 
6,930
904,668
Hyundai Mobis
 
23,157
3,777,863
Hyundai Motor Co. Ltd.
 
51,456
9,229,785
Hyundai Steel Co.
 
31,382
726,679
Industrial Bank of Korea
 
106,137
1,064,065
Kakao Corp.
 
117,578
4,071,921
Kakao Pay Corp. (b)
 
9,806
246,434
KakaoBank Corp.
 
61,399
1,098,159
Kangwon Land, Inc.
 
33,604
370,290
KB Financial Group, Inc.
 
144,863
7,834,930
Kia Corp.
 
98,564
8,327,223
Korea Aerospace Industries Ltd.
 
27,010
1,002,904
Korea Electric Power Corp. (b)
 
97,434
1,483,288
Korea Investment Holdings Co. Ltd.
 
16,436
792,186
Korea Zinc Co. Ltd.
 
3,105
1,031,424
Korean Air Lines Co. Ltd.
 
68,768
1,034,130
KRAFTON, Inc. (b)
 
11,090
1,903,320
KT Corp.
 
23,577
587,821
KT&G Corp.
 
38,520
2,475,118
Kum Yang Co. Ltd. (b)
 
13,303
890,106
Kumho Petro Chemical Co. Ltd.
 
6,026
597,683
L&F Co. Ltd.
 
9,602
1,120,098
LG Chemical Ltd.
 
18,412
5,275,848
LG Corp.
 
35,322
2,009,759
LG Display Co. Ltd. (b)
 
147,201
1,111,053
LG Electronics, Inc.
 
39,626
2,631,787
LG Energy Solution (b)
 
17,648
4,896,263
LG H & H Co. Ltd.
 
3,165
950,970
LG Innotek Co. Ltd.
 
5,244
831,215
LG Uplus Corp.
 
81,066
574,160
Lotte Chemical Corp.
 
7,127
549,214
Meritz Financial Holdings Co.
 
38,568
2,199,047
Mirae Asset Securities Co. Ltd.
 
90,091
489,629
NAVER Corp.
 
49,436
6,502,332
NCSOFT Corp.
 
5,237
659,844
Netmarble Corp. (b)(d)
 
9,616
383,943
NH Investment & Securities Co. Ltd.
 
56,006
502,005
Orion Corp./Republic of Korea
 
8,594
573,533
POSCO
 
27,014
7,776,594
POSCO Chemtech Co. Ltd.
 
11,675
2,342,174
POSCO ICT Co. Ltd.
 
19,656
569,617
Posco International Corp.
 
19,224
632,262
S-Oil Corp.
 
16,714
870,188
Samsung Biologics Co. Ltd. (b)(d)
 
6,768
3,793,357
Samsung C&T Corp.
 
31,689
3,407,563
Samsung E&A Co. Ltd. (b)
 
57,508
1,087,261
Samsung Electro-Mechanics Co. Ltd.
 
21,567
2,398,924
Samsung Electronics Co. Ltd.
 
1,793,552
99,418,426
Samsung Fire & Marine Insurance Co. Ltd.
 
11,499
2,566,567
Samsung Heavy Industries Co. Ltd. (b)
 
245,034
1,655,569
Samsung Life Insurance Co. Ltd.
 
30,323
1,905,391
Samsung SDI Co. Ltd.
 
20,761
6,406,903
Samsung SDS Co. Ltd.
 
14,712
1,685,373
Samsung Securities Co. Ltd.
 
23,398
638,282
Shinhan Financial Group Co. Ltd.
 
166,013
5,561,975
SK Biopharmaceuticals Co. Ltd. (b)
 
11,308
709,395
SK Bioscience Co. Ltd. (b)
 
9,938
417,397
SK Hynix, Inc.
 
205,891
25,336,990
SK IE Technology Co. Ltd. (b)(d)
 
10,642
449,161
SK Innovation Co., Ltd. (b)
 
22,331
1,766,591
SK Square Co. Ltd. (b)
 
36,701
2,010,798
SK Telecom Co. Ltd.
 
20,543
757,590
SK, Inc.
 
13,602
1,616,311
SKC Co. Ltd.
 
6,838
538,946
Woori Financial Group, Inc.
 
229,348
2,343,717
Yuhan Corp.
 
21,630
1,121,987
TOTAL KOREA (SOUTH)
 
 
307,098,973
Kuwait - 0.2%
 
 
 
Agility Global PLC (c)(e)
 
1,177,652
47,749
Boubyan Bank KSC
 
535,325
1,022,726
Gulf Bank
 
783,368
655,559
Kuwait Finance House KSCP
 
3,531,558
8,247,557
Mabanee Co. SAKC
 
262,737
671,543
Mobile Telecommunication Co.
 
729,434
1,154,602
National Bank of Kuwait
 
2,980,316
8,361,899
TOTAL KUWAIT
 
 
20,161,635
Luxembourg - 0.1%
 
 
 
ArcelorMittal SA (Netherlands)
 
191,164
4,812,601
Eurofins Scientific SA
 
51,249
3,150,313
Reinet Investments SCA
 
51,007
1,191,528
TOTAL LUXEMBOURG
 
 
9,154,442
Macau - 0.1%
 
 
 
Galaxy Entertainment Group Ltd.
 
826,136
3,706,784
Sands China Ltd. (a)(b)
 
902,387
2,128,412
TOTAL MACAU
 
 
5,835,196
Malaysia - 0.4%
 
 
 
AMMB Holdings Bhd
 
874,200
768,441
Axiata Group Bhd
 
968,034
573,202
CelcomDigi Bhd
 
1,285,200
1,115,579
CIMB Group Holdings Bhd
 
2,432,411
3,361,664
Gamuda Bhd
 
691,854
769,019
Genting Bhd
 
811,400
766,921
Genting Malaysia Bhd
 
1,138,900
628,246
Hong Leong Bank Bhd
 
243,800
984,572
IHH Healthcare Bhd
 
796,700
1,048,249
Inari Amertron Bhd
 
1,128,700
727,723
IOI Corp. Bhd
 
895,800
762,515
IOI Properties Group Bhd
 
30
14
Kuala Lumpur Kepong Bhd
 
179,712
868,063
Malayan Banking Bhd
 
2,011,107
4,097,963
Malaysia Airports Holdings Bhd
 
361,716
757,038
Maxis Bhd
 
966,400
742,280
MISC Bhd
 
529,700
882,624
MR DIY Group M Sdn Bhd (d)
 
1,263,950
413,138
Nestle (Malaysia) Bhd
 
27,200
724,110
Petronas Chemicals Group Bhd
 
1,101,200
1,562,677
Petronas Dagangan Bhd
 
106,100
478,565
Petronas Gas Bhd
 
300,100
1,130,972
PPB Group Bhd
 
244,380
805,078
Press Metal Aluminium Holdings
 
1,388,600
1,560,903
Public Bank Bhd
 
5,516,200
4,757,767
QL Resources Bhd
 
385,450
517,630
RHB Bank Bhd
 
537,254
618,435
Sime Darby Bhd
 
952,885
557,860
Sime Darby Plantation Bhd
 
792,640
740,214
Sime Darby Property Bhd
 
10
2
SP Setia Bhd
 
13
4
Telekom Malaysia Bhd
 
453,197
587,339
Tenaga Nasional Bhd
 
991,900
2,483,758
YTL Corp. Bhd
 
1,266,200
818,657
YTL Power International Bhd
 
938,000
899,211
TOTAL MALAYSIA
 
 
37,510,433
Mexico - 0.7%
 
 
 
Alfa SA de CV Series A (a)
 
1,135,400
835,109
America Movil S.A.B. de CV Series L
 
7,095,800
6,755,834
Arca Continental S.A.B. de CV
 
195,600
1,908,187
Banco del Bajio SA (d)
 
297,000
1,095,020
CEMEX S.A.B. de CV unit (b)
 
5,752,094
4,556,480
Coca-Cola FEMSA S.A.B. de CV unit
 
194,575
1,930,331
Fibra Uno Administracion SA de CV
 
1,078,200
1,547,681
Fomento Economico Mexicano S.A.B. de CV unit
 
730,900
8,550,686
Gruma S.A.B. de CV Series B
 
68,340
1,342,246
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B
 
146,400
2,666,534
Grupo Aeroportuario del Sureste S.A.B. de CV Series B
 
68,695
2,359,708
Grupo Aeroportuario Norte S.A.B. de CV
 
105,900
1,172,453
Grupo Bimbo S.A.B. de CV Series A
 
502,400
2,105,119
Grupo Carso SA de CV Series A1
 
212,800
1,673,630
Grupo Financiero Banorte S.A.B. de CV Series O
 
976,000
9,659,869
Grupo Financiero Inbursa S.A.B. de CV Series O (b)
 
697,400
1,932,524
Grupo Mexico SA de CV Series B
 
1,170,824
7,234,460
Industrias Penoles SA de CV (b)
 
72,610
1,053,753
Kimberly-Clark de Mexico SA de CV Series A
 
560,000
1,165,717
Operadora de Sites Mexicanos, SA de CV
 
488,100
549,338
Orbia Advance Corp. S.A.B. de CV
 
376,937
619,179
Prologis Property Mexico SA
 
294,294
1,160,632
Promotora y Operadora de Infraestructura S.A.B. de CV
 
70,405
707,266
Southern Copper Corp.
 
31,904
3,722,240
Wal-Mart de Mexico SA de CV Series V
 
1,968,200
7,343,948
TOTAL MEXICO
 
 
73,647,944
Netherlands - 2.9%
 
 
 
ABN AMRO Bank NV:
 
 
 
 GDR (Bearer) (d)
 
179,040
2,883,269
 rights (b)(c)
 
179,040
170,054
Adyen BV (b)(d)
 
8,188
9,809,220
AEGON NV
 
549,653
3,423,153
Akzo Nobel NV
 
64,572
4,282,144
Argenx SE (b)
 
22,205
8,294,980
ASM International NV (Netherlands)
 
17,656
11,215,046
ASML Holding NV (Netherlands)
 
151,885
134,973,736
ASR Nederland NV
 
59,606
2,987,833
BE Semiconductor Industries NV
 
29,159
3,905,370
Euronext NV (d)
 
32,335
2,921,095
EXOR NV
 
34,871
3,821,912
Heineken Holding NV
 
48,274
3,892,186
Heineken NV (Bearer)
 
108,961
10,616,654
IMCD NV
 
21,516
3,266,327
ING Groep NV (Certificaten Van Aandelen)
 
1,252,560
19,803,314
JDE Peet's BV
 
36,394
808,642
Koninklijke Ahold Delhaize NV
 
360,540
10,943,895
Koninklijke KPN NV
 
1,259,434
4,576,949
Koninklijke Philips Electronics NV
 
294,283
7,815,035
NN Group NV
 
101,596
4,700,148
OCI NV
 
39,808
1,074,822
Randstad NV
 
41,731
2,102,067
Universal Music Group NV
 
307,830
9,099,898
Wolters Kluwer NV
 
93,728
14,078,733
TOTAL NETHERLANDS
 
 
281,466,482
New Zealand - 0.1%
 
 
 
Auckland International Airport Ltd.
 
508,486
2,333,243
Fisher & Paykel Healthcare Corp.
 
218,514
3,659,618
Mercury Nz Ltd.
 
268,669
1,008,280
Meridian Energy Ltd.
 
502,653
1,772,798
Spark New Zealand Ltd.
 
681,762
1,900,914
Xero Ltd. (b)
 
54,223
4,209,776
TOTAL NEW ZEALAND
 
 
14,884,629
Norway - 0.3%
 
 
 
Aker BP ASA
 
118,268
2,895,881
DNB Bank ASA
 
349,157
6,100,857
Equinor ASA
 
340,232
9,053,021
Gjensidige Forsikring ASA
 
75,597
1,216,112
Kongsberg Gruppen ASA
 
33,328
2,358,177
Mowi ASA
 
176,128
3,106,835
Norsk Hydro ASA
 
499,904
3,072,103
Orkla ASA
 
260,365
1,776,628
Salmar ASA
 
25,217
1,592,450
Telenor ASA
 
236,890
2,727,482
TOTAL NORWAY
 
 
33,899,546
Peru - 0.1%
 
 
 
Compania de Minas Buenaventura SAA sponsored ADR
 
77,623
1,342,878
Credicorp Ltd. (United States)
 
25,515
4,225,539
TOTAL PERU
 
 
5,568,417
Philippines - 0.2%
 
 
 
Aboitiz Equity Ventures, Inc.
 
623,190
454,279
Altus Property Ventures, Inc. (b)
 
7
1
Ayala Corp.
 
109,590
1,165,880
Ayala Land, Inc.
 
2,470,300
1,225,608
Bank of the Philippine Islands (BPI)
 
712,417
1,561,097
BDO Unibank, Inc.
 
887,001
2,259,216
DMCI Holdings, Inc.
 
4
1
International Container Terminal Services, Inc.
 
372,910
2,134,618
JG Summit Holdings, Inc.
 
960,636
561,360
Jollibee Food Corp.
 
167,480
681,556
Manila Electric Co.
 
105,350
668,107
Metropolitan Bank & Trust Co.
 
640,931
776,176
PLDT, Inc.
 
28,020
653,087
SM Investments Corp.
 
93,943
1,543,703
SM Prime Holdings, Inc.
 
3,856,300
1,864,951
Universal Robina Corp.
 
323,210
573,258
TOTAL PHILIPPINES
 
 
16,122,898
Poland - 0.3%
 
 
 
Allegro.eu SA (b)(d)
 
219,031
1,836,688
Bank Polska Kasa Opieki SA
 
68,438
2,851,302
Budimex SA
 
4,571
774,717
CD Projekt SA
 
23,714
692,759
Dino Polska SA (b)(d)
 
18,535
1,781,579
KGHM Polska Miedz SA (Bearer)
 
53,118
1,841,792
LPP SA
 
422
1,636,441
mBank SA (b)
 
5,424
917,015
Orlen SA
 
216,907
3,552,732
PGE Polska Grupa Energetyczna SA (b)
 
328,516
493,049
Powszechna Kasa Oszczednosci Bank SA
 
330,116
4,939,858
Powszechny Zaklad Ubezpieczen SA
 
229,227
2,897,831
Santander Bank Polska SA
 
13,618
1,882,698
TOTAL POLAND
 
 
26,098,461
Portugal - 0.1%
 
 
 
Banco Espirito Santo SA (Reg.) (b)(e)
 
82,039
1
Energias de Portugal SA
 
1,181,616
4,446,359
Galp Energia SGPS SA Class B
 
178,269
3,843,023
Jeronimo Martins SGPS SA
 
105,077
2,169,874
TOTAL PORTUGAL
 
 
10,459,257
Qatar - 0.2%
 
 
 
Barwa Real Estate Co.
 
792,285
611,459
Dukhan Bank
 
662,915
701,150
Industries Qatar QSC
 
573,371
1,929,084
Masraf al Rayan
 
2,063,799
1,423,857
Mesaieed Petrochemical Holding Co.
 
2,232,961
1,176,889
Ooredoo QSC
 
296,927
814,694
Qatar Electricity & Water Co.
 
160,955
674,146
Qatar Fuel Co.
 
224,901
893,180
Qatar Gas Transport Co. Ltd. (Nakilat)
 
926,009
1,017,059
Qatar International Islamic Bank QSC
 
367,599
1,015,668
Qatar Islamic Bank
 
680,416
3,419,833
Qatar National Bank SAQ
 
1,736,861
6,616,386
The Commercial Bank of Qatar
 
1,239,706
1,414,034
TOTAL QATAR
 
 
21,707,439
Romania - 0.0%
 
 
 
NEPI Rockcastle PLC
 
210,810
1,416,926
Russia - 0.0%
 
 
 
Alrosa Co. Ltd. (b)(e)
 
846,411
140,208
Gazprom OAO (b)(e)
 
3,422,762
356,620
Gazprom OAO sponsored ADR (Reg. S) (b)(e)
 
266,976
132,420
Inter Rao Ues JSC (b)(e)
 
12,405,200
68,099
LUKOIL PJSC (b)(e)
 
135,807
41,855
LUKOIL PJSC sponsored ADR (b)(e)
 
625
7,875
MMC Norilsk Nickel PJSC (b)(e)
 
1,810,200
119,872
MMC Norilsk Nickel PJSC sponsored ADR (b)(e)
 
27,948
67,075
Moscow Exchange MICEX-RTS OAO (b)(e)
 
524,685
100,426
Novatek PJSC GDR (Reg. S) (b)(e)
 
30,578
1,492,206
Novolipetsk Steel OJSC (b)(e)
 
477,930
4,569
Ozon Holdings PLC ADR (b)(e)
 
15,142
31,587
PhosAgro PJSC:
 
 
 
 GDR (Reg. S) (b)(e)
 
46,691
958
 sponsored GDR (Reg. S) (b)(e)
 
300
6
Polyus PJSC (b)(e)
 
11,075
25,932
Rosneft Oil Co. OJSC (b)(e)
 
322,313
53,672
Rosneft Oil Co. OJSC GDR (Reg. S) (b)(e)
 
56,929
13,461
Sberbank of Russia (b)(e)
 
3,621,326
22,170
Severstal PAO (b)(e)
 
60,348
1,342
Severstal PAO GDR (Reg. S) (b)(e)
 
9,813
232
Surgutneftegas OJSC (b)(e)
 
1,105,600
13,471
Surgutneftegas OJSC sponsored ADR (b)(e)
 
71,885
13,275
Tatneft PAO (b)(e)
 
446,514
55,298
TKS Holding MKPAO JSC (b)(e)
 
1,424
1,805
United Co. RUSAL International PJSC (b)(e)
 
1,020,580
122,470
VK Co. Ltd. (b)(e)
 
25,459
7,531
VK Co. Ltd. GDR (Reg. S) (b)(e)
 
12,889
0
VTB Bank OJSC (b)(e)
 
1,160,850,350
44,161
Yandex NV Class A (b)(e)
 
102,848
382,337
TOTAL RUSSIA
 
 
3,320,933
Saudi Arabia - 1.1%
 
 
 
ACWA Power Co.
 
35,274
3,761,958
Ades Holding Co.
 
132,037
703,381
Advanced Petrochemicals Co.
 
55,587
632,849
Al Rajhi Bank
 
740,653
15,778,322
Alinma Bank
 
462,627
4,113,638
Almarai Co. Ltd.
 
93,655
1,418,334
Arab National Bank
 
249,011
2,051,522
Arabian Internet and Communications Services Co. Ltd.
 
8,644
802,035
Bank Al-Jazira
 
199,387
861,214
Bank Albilad
 
229,073
2,180,426
Banque Saudi Fransi
 
220,215
2,151,890
Bupa Arabia for Cooperative Insurance Co.
 
30,669
1,972,315
Dallah Healthcare Co.
 
12,723
552,938
Dar Al Arkan Real Estate Development Co. (b)
 
191,613
679,479
Dr Sulaiman Al Habib Medical Services Group Co.
 
33,212
2,750,399
Elm Co.
 
9,072
2,212,246
Etihad Etisalat Co.
 
144,450
2,002,720
Jarir Marketing Co.
 
230,596
832,472
Luberef
 
19,014
768,550
Mobile Telecommunications Co. Saudi Arabia
 
158,559
510,690
Mouwasat Medical Services Co.
 
37,748
1,352,672
Nahdi Medical Co.
 
14,006
516,085
Power & Water Utility Co. for Jubail & Yanbu
 
26,802
464,494
Riyad Bank
 
554,834
4,097,718
Sabic Agriculture-Nutrients Co.
 
88,629
2,736,426
Sahara International Petrochemical Co.
 
132,177
1,208,786
Saudi Arabian Mining Co.
 
486,092
6,557,952
Saudi Arabian Oil Co. (d)
 
1,001,640
8,038,544
Saudi Awwal Bank
 
379,922
4,132,890
Saudi Basic Industries Corp.
 
339,153
7,641,025
Saudi Electricity Co.
 
314,844
1,563,055
Saudi Industrial Investment Group
 
148,812
921,297
Saudi Investment Bank/The
 
184,876
832,055
Saudi Kayan Petrochemical Co. (b)
 
291,174
727,430
Saudi Research & Marketing Group (b)
 
13,902
892,551
Saudi Tadawul Group Holding Co.
 
17,422
1,230,029
Saudi Telecom Co.
 
752,992
7,558,830
The Co. for Cooperative Insurance
 
27,959
1,110,727
The Saudi National Bank
 
1,103,834
11,066,005
The Savola Group
 
95,658
1,287,988
Yanbu National Petrochemical Co.
 
102,139
1,055,267
TOTAL SAUDI ARABIA
 
 
111,729,204
Singapore - 1.0%
 
 
 
CapitaLand Ascendas REIT
 
1,451,154
2,748,809
CapitaLand Integrated Commercial Trust
 
1,975,848
2,816,563
CapitaLand Investment Ltd.
 
977,071
1,889,512
City Developments Ltd.
 
188,652
845,526
DBS Group Holdings Ltd.
 
752,840
19,165,355
Genting Singapore Ltd.
 
2,229,113
1,487,644
Grab Holdings Ltd. (b)
 
725,123
2,537,931
Jardine Cycle & Carriage Ltd.
 
39,900
770,000
Keppel Ltd.
 
553,320
2,767,658
Mapletree Logistics Trust (REIT)
 
1,333,285
1,308,357
Mapletree Pan Asia Commercial Trust
 
885,743
811,671
Oversea-Chinese Banking Corp. Ltd.
 
1,268,251
13,166,441
Sea Ltd. ADR (b)
 
139,285
8,801,419
Seatrium Ltd. (a)(b)
 
16,972,558
1,212,453
Sembcorp Industries Ltd.
 
339,200
1,325,619
Singapore Airlines Ltd.
 
555,368
2,650,006
Singapore Exchange Ltd.
 
329,617
2,248,491
Singapore Technologies Engineering Ltd.
 
602,224
1,769,024
Singapore Telecommunications Ltd.
 
3,116,069
5,404,121
STMicroelectronics NV (France)
 
257,186
10,180,679
United Overseas Bank Ltd.
 
473,909
10,516,422
TOTAL SINGAPORE
 
 
94,423,701
South Africa - 0.9%
 
 
 
Absa Group Ltd.
 
323,988
2,498,296
Anglo American Platinum Ltd. (a)
 
24,316
847,047
Anglo American PLC (United Kingdom)
 
477,308
15,597,222
Aspen Pharmacare Holdings Ltd.
 
147,868
1,761,539
Bid Corp. Ltd.
 
127,123
2,897,499
Bidvest Group Ltd./The
 
106,286
1,386,081
Capitec Bank Holdings Ltd.
 
32,841
4,064,498
Clicks Group Ltd.
 
88,958
1,384,080
Discovery Ltd.
 
199,200
1,269,038
Exxaro Resources Ltd.
 
90,083
863,093
FirstRand Ltd.
 
1,901,674
6,564,868
Gold Fields Ltd.
 
336,417
5,442,443
Harmony Gold Mining Co. Ltd.
 
211,798
1,833,371
Impala Platinum Holdings Ltd.
 
334,353
1,488,391
Kumba Iron Ore Ltd. (a)
 
24,061
589,811
MTN Group Ltd.
 
649,382
3,112,363
Naspers Ltd. Class N
 
69,176
13,238,739
Nedbank Group Ltd.
 
162,274
1,973,117
Northam Platinum Holdings Ltd.
 
130,360
863,724
Old Mutual Ltd.
 
1,749,454
1,027,888
OUTsurance Group Ltd.
 
333,865
717,748
Pepkor Holdings Ltd. (d)
 
745,795
703,544
Remgro Ltd.
 
199,138
1,297,539
Sanlam Ltd.
 
666,583
2,411,285
Sasol Ltd.
 
214,226
1,505,005
Shoprite Holdings Ltd.
 
190,994
2,548,302
Sibanye-Stillwater Ltd. (a)
 
1,035,001
1,181,299
Standard Bank Group Ltd.
 
505,537
4,747,379
Vodacom Group Ltd.
 
229,847
1,099,901
Woolworths Holdings Ltd.
 
344,994
1,095,936
TOTAL SOUTH AFRICA
 
 
86,011,046
Spain - 1.6%
 
 
 
Acciona SA
 
9,540
1,106,684
ACS Actividades de Construccion y Servicios SA
 
78,368
3,142,978
Aena SME SA (d)
 
28,164
5,157,716
Amadeus IT Holding SA Class A
 
169,303
10,746,330
Banco Bilbao Vizcaya Argentaria SA
 
2,199,545
23,785,813
Banco Santander SA (Spain)
 
6,102,525
29,782,187
CaixaBank SA
 
1,416,738
7,471,252
Cellnex Telecom SA (d)
 
173,734
5,742,724
EDP Renovaveis SA
 
114,469
1,572,216
Enagas SA
 
92,092
1,352,341
Endesa SA
 
119,589
2,182,394
Grifols SA (b)
 
113,997
1,051,852
Iberdrola SA
 
2,311,820
28,346,558
Industria de Diseno Textil SA
 
410,850
18,787,973
Redeia Corp. SA
 
150,971
2,521,469
Repsol SA
 
459,045
7,205,204
Telefonica SA
 
1,841,435
8,248,887
TOTAL SPAIN
 
 
158,204,578
Sweden - 1.9%
 
 
 
Alfa Laval AB
 
110,027
4,728,393
ASSA ABLOY AB (B Shares)
 
378,559
10,002,065
Atlas Copco AB:
 
 
 
 (A Shares)
 
1,012,792
17,740,154
 (B Shares)
 
588,444
8,943,811
Beijer Ref AB (B Shares) (a)
 
145,710
2,095,001
Boliden AB
 
103,304
3,450,528
Epiroc AB:
 
 
 
 (A Shares)
 
244,359
4,517,557
 (B Shares)
 
151,002
2,529,397
EQT AB
 
141,187
3,872,893
Essity AB (B Shares)
 
229,140
5,709,579
Evolution AB (d)
 
68,862
7,698,267
Fastighets AB Balder (b)
 
241,328
1,553,027
Getinge AB (B Shares)
 
87,242
1,860,356
H&M Hennes & Mauritz AB (B Shares) (a)
 
243,406
3,903,852
Hexagon AB (B Shares)
 
779,698
8,260,112
Holmen AB (B Shares)
 
28,995
1,135,552
Husqvarna AB (B Shares)
 
128,410
1,056,606
Industrivarden AB:
 
 
 
 (A Shares)
 
48,599
1,575,221
 (C Shares)
 
54,862
1,776,728
Indutrade AB
 
103,613
2,427,578
Investment AB Latour (B Shares)
 
55,152
1,348,723
Investor AB:
 
 
 
 (A Shares)
 
32,388
795,858
 (B Shares)
 
618,602
15,287,671
L E Lundbergforetagen AB
 
28,125
1,398,543
Lifco AB
 
88,520
2,168,742
Nibe Industrier AB (B Shares) (a)
 
571,418
2,675,508
Saab AB (B Shares)
 
30,236
2,410,561
Sagax AB
 
78,998
1,994,233
Sandvik AB (a)
 
401,067
8,104,753
Securitas AB (B Shares) (a)
 
186,986
1,891,001
Skandinaviska Enskilda Banken AB (A Shares)
 
597,974
7,884,072
Skanska AB (B Shares)
 
128,557
2,238,000
SKF AB (B Shares)
 
130,903
2,731,996
Svenska Cellulosa AB SCA (B Shares) (a)
 
228,842
3,365,018
Svenska Handelsbanken AB (A Shares)
 
546,686
4,688,011
Swedbank AB (A Shares)
 
318,506
6,138,677
Swedish Orphan Biovitrum AB (b)
 
72,181
1,869,302
Tele2 AB (B Shares)
 
203,280
1,901,761
Telefonaktiebolaget LM Ericsson (B Shares)
 
1,099,309
5,578,870
Telia Co. AB
 
890,732
2,041,658
Volvo AB:
 
 
 
 (A Shares)
 
76,105
2,022,027
 (B Shares)
 
568,032
14,607,480
Volvo Car AB
 
283,604
898,905
TOTAL SWEDEN
 
 
188,878,047
Switzerland - 3.8%
 
 
 
ABB Ltd. (Reg.)
 
603,743
29,334,929
Adecco SA (Reg.)
 
60,257
2,113,338
Alcon, Inc. (Switzerland)
 
188,746
14,598,684
Avolta AG (b)
 
37,638
1,423,351
Bachem Holding AG (B Shares)
 
12,198
1,063,551
Baloise Holdings AG
 
17,158
2,590,732
Banque Cantonale Vaudoise
 
11,162
1,168,109
Barry Callebaut AG
 
1,365
2,203,601
BKW AG
 
8,018
1,188,853
Clariant AG (Reg.)
 
80,543
1,207,378
Compagnie Financiere Richemont SA Series A
 
202,623
28,007,975
DSM-Firmenich AG
 
69,914
7,886,512
Ems-Chemie Holding AG
 
2,669
2,139,846
Geberit AG (Reg.)
 
12,551
6,739,378
Givaudan SA
 
3,482
14,946,937
Helvetia Holding AG (Reg.)
 
13,947
1,825,210
Julius Baer Group Ltd.
 
77,506
4,158,845
Kuehne & Nagel International AG
 
20,489
5,431,786
Lindt & Spruengli AG
 
41
4,745,608
Lindt & Spruengli AG (participation certificate)
 
364
4,201,295
Logitech International SA (Reg.)
 
61,754
4,840,896
Lonza Group AG
 
28,090
15,505,502
Novartis AG
 
772,130
74,941,049
Partners Group Holding AG
 
8,518
11,022,204
Sandoz Group AG
 
154,152
5,239,153
Schindler Holding AG:
 
 
 
 (participation certificate)
 
14,846
3,714,528
 (Reg.)
 
9,290
2,268,812
SGS SA (Reg.)
 
58,709
5,176,994
Sig Group AG
 
113,861
2,279,078
Sika AG
 
57,546
16,482,852
Sonova Holding AG
 
19,085
5,302,485
Straumann Holding AG
 
41,953
5,613,510
Swatch Group AG (Bearer)
 
10,855
2,280,758
Swatch Group AG (Bearer) (Reg.)
 
20,815
864,980
Swiss Life Holding AG
 
11,071
7,479,022
Swiss Prime Site AG
 
28,681
2,655,157
Swisscom AG
 
9,713
5,320,093
Temenos AG
 
24,303
1,520,177
UBS Group AG
 
1,239,349
32,721,240
VAT Group AG (d)
 
10,172
5,120,027
Zurich Insurance Group Ltd.
 
55,113
26,631,705
TOTAL SWITZERLAND
 
 
373,956,140
Taiwan - 4.7%
 
 
 
Accton Technology Corp.
 
190,000
2,657,054
Acer, Inc.
 
1,092,288
1,500,265
Advantech Co. Ltd.
 
175,411
2,036,651
Alchip Technologies Ltd.
 
28,000
2,636,126
ASE Technology Holding Co. Ltd.
 
1,155,840
5,190,413
Asia Cement Corp.
 
884,466
1,184,143
ASUSTeK Computer, Inc.
 
265,000
3,468,701
AUO Corp.
 
2,400,000
1,339,598
Catcher Technology Co. Ltd.
 
215,000
1,433,578
Cathay Financial Holding Co. Ltd.
 
3,575,869
5,519,729
Chailease Holding Co. Ltd.
 
577,746
3,041,766
Chang Hwa Commercial Bank
 
2,020,454
1,127,770
Cheng Shin Rubber Industry Co. Ltd.
 
745,899
1,074,963
China Airlines Ltd.
 
1,067,490
682,404
China Development Financial Ho (b)
 
6,038,405
2,519,830
China Steel Corp.
 
4,461,426
3,392,769
Chunghwa Telecom Co. Ltd.
 
1,425,000
5,406,561
Compal Electronics, Inc.
 
1,583,000
1,723,602
CTBC Financial Holding Co. Ltd.
 
6,625,579
6,902,948
Delta Electronics, Inc.
 
733,621
7,171,793
E Ink Holdings, Inc.
 
324,000
2,067,721
E.SUN Financial Holdings Co. Ltd.
 
5,245,130
4,399,658
ECLAT Textile Co. Ltd.
 
65,941
1,035,680
eMemory Technology, Inc.
 
24,000
1,610,233
EVA Airways Corp.
 
1,009,000
1,095,072
Evergreen Marine Corp. (Taiwan)
 
385,248
2,234,524
Far Eastern New Century Corp.
 
1,109,664
1,104,969
Far EasTone Telecommunications Co. Ltd.
 
652,000
1,614,354
Feng Tay Enterprise Co. Ltd.
 
201,244
998,831
First Financial Holding Co. Ltd.
 
4,059,596
3,397,200
Formosa Chemicals & Fibre Corp.
 
1,372,590
2,328,764
Formosa Petrochemical Corp.
 
427,000
941,925
Formosa Plastics Corp.
 
1,428,480
2,995,810
Fubon Financial Holding Co. Ltd.
 
2,927,900
6,183,014
Gigabyte Technology Co. Ltd.
 
192,000
1,728,454
Global Unichip Corp.
 
36,000
1,492,477
GlobalWafers Co. Ltd.
 
81,000
1,284,733
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
4,712,990
22,395,592
Hotai Motor Co. Ltd.
 
117,220
2,220,443
Hua Nan Financial Holdings Co. Ltd.
 
3,349,423
2,422,085
Innolux Corp.
 
3,337,636
1,448,959
Inventec Corp.
 
1,014,280
1,624,233
Largan Precision Co. Ltd.
 
38,000
2,528,499
Lite-On Technology Corp.
 
759,910
2,295,991
MediaTek, Inc.
 
572,970
17,245,006
Mega Financial Holding Co. Ltd.
 
4,405,547
5,389,010
Micro-Star International Co. Ltd.
 
267,000
1,296,836
Nan Ya Plastics Corp.
 
1,802,780
3,124,790
Nan Ya Printed Circuit Board Corp.
 
85,000
483,126
Nanya Technology Corp.
 
477,000
961,086
Nien Made Enterprise Co. Ltd.
 
63,000
734,931
Novatek Microelectronics Corp.
 
219,000
4,130,696
Pegatron Corp.
 
742,000
2,209,024
PharmaEssentia Corp. (b)
 
87,000
780,867
Pou Chen Corp.
 
857,000
946,901
Powerchip Semiconductor Manufacturing Corp.
 
1,144,044
797,896
President Chain Store Corp.
 
216,000
1,813,250
Quanta Computer, Inc.
 
1,015,000
7,951,803
Realtek Semiconductor Corp.
 
182,090
2,867,391
Ruentex Development Co. Ltd.
 
566,851
665,764
Shin Kong Financial Holding Co. Ltd. (b)
 
4,876,475
1,286,359
Sinopac Financial Holdings Co.
 
3,991,390
2,680,495
Synnex Technology International Corp.
 
473,500
1,155,296
Taishin Financial Holdings Co. Ltd.
 
4,147,688
2,279,533
Taiwan Business Bank
 
2,371,840
1,229,244
Taiwan Cement Corp.
 
2,526,612
2,479,115
Taiwan Cooperative Financial Holding Co. Ltd.
 
3,841,229
3,081,431
Taiwan High Speed Rail Corp.
 
763,000
698,289
Taiwan Mobile Co. Ltd.
 
710,600
2,263,925
Taiwan Semiconductor Manufacturing Co. Ltd.
 
9,281,000
221,826,977
The Shanghai Commercial & Savings Bank Ltd.
 
1,432,059
2,035,930
Uni-President Enterprises Corp.
 
1,823,080
4,268,626
Unimicron Technology Corp.
 
512,000
2,826,339
United Microelectronics Corp.
 
4,236,000
6,496,716
Vanguard International Semiconductor Corp.
 
341,000
892,001
Voltronic Power Technology Corp.
 
25,000
1,180,827
Walsin Lihwa Corp.
 
1,086,312
1,224,876
Wan Hai Lines Ltd.
 
263,360
408,341
Winbond Electronics Corp.
 
1,153,582
913,235
Wistron Corp.
 
991,000
3,387,211
Wiwynn Corp.
 
36,000
2,556,453
WPG Holding Co. Ltd.
 
590,320
1,591,517
Yageo Corp.
 
125,352
2,386,776
Yang Ming Marine Transport Corp.
 
643,000
1,026,192
Yuanta Financial Holding Co. Ltd.
 
3,830,075
3,586,362
Zhen Ding Technology Holding Ltd.
 
263,302
930,319
TOTAL TAIWAN
 
 
457,550,647
Thailand - 0.4%
 
 
 
Advanced Info Service PCL (For. Reg.)
 
228,500
1,210,764
Advanced Information Service PCL NVDR
 
226,800
1,201,756
Airports of Thailand PCL:
 
 
 
 (For. Reg.)
 
841,000
1,472,582
 NVDR
 
747,300
1,308,514
Asset World Corp. PCL:
 
 
 
 (For. Reg.)
 
2,164,600
254,845
 NVDR
 
974,800
114,766
Bangkok Dusit Medical Services PCL:
 
 
 
 (For. Reg.)
 
2,030,000
1,580,924
 NVDR
 
2,206,100
1,718,068
Bangkok Expressway and Metro PCL:
 
 
 
 (For. Reg.)
 
1,674,400
372,778
 NVDR
 
1,011,600
225,216
BTS Group Holdings PCL:
 
 
 
 (For. Reg.)
 
1,613,500
273,513
 NVDR
 
1,314,100
223,525
Bumrungrad Hospital PCL:
 
 
 
 (For. Reg.)
 
104,400
687,212
 NVDR
 
114,900
756,328
Central Pattana PCL:
 
 
 
 (For. Reg.)
 
469,500
798,519
 NVDR
 
282,600
480,642
Central Retail Corp. PCL:
 
 
 
 (For. Reg.)
 
262,466
242,117
 NVDR
 
414,100
381,995
Charoen Pokphand Foods PCL:
 
 
 
 (For. Reg.)
 
706,700
375,900
 NVDR
 
762,800
405,740
CP ALL PCL:
 
 
 
 (For. Reg.)
 
1,177,300
1,814,636
 NVDR
 
1,050,100
1,618,576
CP Axtra PCL NVDR
 
767,900
668,024
Delta Electronics PCL NVDR
 
1,157,500
2,153,115
Energy Absolute PCL:
 
 
 
 (For. Reg.)
 
273,800
224,401
 NVDR
 
344,500
282,345
Global Power Synergy Public Co. Ltd.:
 
 
 
 (For. Reg.)
 
139,900
182,920
 NVDR
 
113,100
147,879
Gulf Energy Development PCL:
 
 
 
 (For. Reg.)
 
350,400
377,482
 NVDR
 
722,600
778,449
Home Product Center PCL:
 
 
 
 (For. Reg.)
 
1,156,167
321,861
 NVDR
 
1,042,400
290,190
Indorama Ventures PCL NVDR
 
597,000
382,129
Intouch Holdings PCL:
 
 
 
 (For. Reg.)
 
169,100
303,755
 NVDR
 
196,000
352,075
Kasikornbank PCL NVDR
 
217,200
760,385
Krung Thai Bank PCL:
 
 
 
 (For. Reg.)
 
788,655
355,718
 NVDR
 
527,800
238,061
Krungthai Card PCL:
 
 
 
 (For. Reg.)
 
150,000
172,484
 NVDR
 
224,400
258,036
Land & House PCL:
 
 
 
 (For. Reg.)
 
2,087,000
417,763
 NVDR
 
1,095,500
219,291
Minor International PCL:
 
 
 
 (For. Reg.)
 
1,019,598
901,523
 NVDR
 
303,500
268,353
Muangthai Leasing PCL:
 
 
 
 (For. Reg.)
 
145,909
177,088
 NVDR
 
134,200
162,877
PTT Exploration and Production PCL:
 
 
 
 (For. Reg.)
 
372,744
1,555,103
 NVDR
 
157,400
656,679
PTT Global Chemical PCL:
 
 
 
 (For. Reg.)
 
534,039
525,317
 NVDR
 
296,600
291,756
PTT Oil & Retail Business PCL NVDR
 
1,150,400
576,065
PTT PCL:
 
 
 
 (For. Reg.)
 
2,596,900
2,347,168
 NVDR
 
1,113,600
1,006,510
SCB X PCL:
 
 
 
 (For. Reg.)
 
94,050
268,604
 NVDR
 
222,500
635,455
SCG Packaging PCL NVDR
 
456,000
395,909
Siam Cement PCL:
 
 
 
 (For. Reg.)
 
166,100
1,109,767
 NVDR
 
134,700
899,974
Thai Oil PCL:
 
 
 
 (For. Reg.)
 
321,912
467,780
 NVDR
 
127,810
185,725
TMBThanachart Bank PCL NVDR
 
8,385,400
407,508
True Corp. PCL (b)
 
2,632,130
541,317
True Corp. PCL NVDR (b)
 
1,403,171
288,572
TOTAL THAILAND
 
 
40,074,329
Turkey - 0.2%
 
 
 
Akbank TAS
 
1,192,303
2,188,658
Aselsan A/S
 
519,979
975,375
Bim Birlesik Magazalar A/S JSC
 
172,637
2,062,929
Coca-Cola Icecek Sanayi A/S
 
29,051
650,337
Eregli Demir ve Celik Fabrikalari T.A.S.
 
516,164
686,280
Ford Otomotiv Sanayi A/S
 
25,189
866,434
Haci Omer Sabanci Holding A/S
 
373,148
1,063,462
Koc Holding A/S
 
288,320
2,012,865
Pegasus Hava Tasimaciligi A/S (b)
 
16,395
523,445
Sasa Polyester Sanayi A/S
 
525,181
669,404
Tofas Turk Otomobil Fabrikasi A/S
 
45,418
386,007
Turk Hava Yollari AO (b)
 
210,437
2,118,259
Turkcell Iletisim Hizmet A/S
 
465,592
1,161,599
Turkiye Is Bankasi A/S Series C
 
3,207,825
1,357,962
Turkiye Petrol Rafinerileri A/S
 
371,959
2,248,781
Turkiye Sise ve Cam Fabrikalari A/S
 
504,329
784,845
Yapi ve Kredi Bankasi A/S
 
1,222,059
1,218,050
TOTAL TURKEY
 
 
20,974,692
United Arab Emirates - 0.3%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
1,117,900
2,541,443
Abu Dhabi Islamic Bank
 
562,401
1,708,839
Abu Dhabi National Oil Co. for Distribution PJSC
 
1,161,689
1,103,840
Aldar Properties PJSC
 
1,473,281
2,190,126
Americana Restaurants International PLC
 
927,903
841,274
Dubai Islamic Bank Pakistan Ltd.
 
1,065,413
1,612,812
Emaar Properties PJSC
 
2,498,298
5,584,423
Emirates NBD Bank PJSC
 
719,252
3,329,054
Emirates Telecommunications Corp.
 
1,313,997
6,081,829
First Abu Dhabi Bank PJSC
 
1,667,354
5,665,435
Multiply Group (b)
 
1,431,968
896,710
NMC Health PLC (b)(e)
 
30,958
6
TOTAL UNITED ARAB EMIRATES
 
 
31,555,791
United Kingdom - 6.7%
 
 
 
3i Group PLC
 
364,772
13,032,374
Abrdn PLC
 
710,577
1,300,776
Admiral Group PLC
 
97,916
3,338,957
AngloGold Ashanti PLC
 
158,421
3,643,462
Ashtead Group PLC
 
164,372
11,998,944
Associated British Foods PLC
 
129,603
4,301,271
AstraZeneca PLC (United Kingdom)
 
584,012
88,331,203
Auto Trader Group PLC (d)
 
344,889
2,990,009
Aviva PLC
 
1,023,210
5,954,217
BAE Systems PLC
 
1,140,651
18,971,554
Barclays PLC
 
5,712,855
14,403,793
Barratt Developments PLC
 
369,228
2,097,844
Berkeley Group Holdings PLC
 
40,436
2,381,834
British American Tobacco PLC (United Kingdom)
 
759,019
22,281,972
BT Group PLC
 
2,438,828
3,126,671
Bunzl PLC
 
126,644
4,864,544
Burberry Group PLC
 
137,702
1,970,328
Centrica PLC
 
2,061,793
3,296,393
CK Hutchison Holdings Ltd.
 
1,008,393
4,897,539
Coca-Cola European Partners PLC
 
77,635
5,591,273
Compass Group PLC
 
642,382
17,867,038
Croda International PLC
 
50,537
2,911,146
DCC PLC (United Kingdom)
 
37,137
2,545,289
Diageo PLC
 
843,100
29,137,265
Entain PLC
 
237,333
2,332,737
Flutter Entertainment PLC (b)
 
66,750
12,448,564
Halma PLC
 
143,405
3,954,761
Hargreaves Lansdown PLC
 
136,354
1,386,562
HSBC Holdings PLC (United Kingdom)
 
7,216,713
62,554,131
Imperial Brands PLC
 
316,789
7,238,678
Informa PLC
 
522,152
5,192,237
InterContinental Hotel Group PLC
 
62,106
6,057,447
Intertek Group PLC
 
60,728
3,751,639
J Sainsbury PLC
 
623,500
2,052,135
JD Sports Fashion PLC
 
959,593
1,386,113
Kingfisher PLC
 
715,321
2,203,420
Land Securities Group PLC
 
262,306
2,132,108
Legal & General Group PLC
 
2,239,969
6,605,530
Lloyds Banking Group PLC
 
23,973,378
15,472,022
London Stock Exchange Group PLC
 
156,834
17,289,397
M&G PLC
 
830,898
2,087,918
Melrose Industries PLC
 
506,719
4,000,373
National Grid PLC
 
1,405,772
18,439,740
NatWest Group PLC
 
2,162,365
8,161,595
Next PLC
 
45,276
5,096,242
Ocado Group PLC (a)(b)
 
217,825
961,079
Pearson PLC
 
239,758
2,909,185
Pepco Group NV (a)(b)
 
63,590
302,399
Persimmon PLC
 
118,394
1,929,127
Phoenix Group Holdings PLC
 
284,254
1,739,719
Reckitt Benckiser Group PLC
 
269,091
15,044,072
RELX PLC (London Stock Exchange)
 
710,050
29,173,740
Rentokil Initial PLC
 
948,336
4,787,175
Rolls-Royce Holdings PLC (b)
 
3,172,449
16,268,399
Sage Group PLC
 
385,926
5,622,847
Schroders PLC
 
299,338
1,319,605
Segro PLC
 
479,051
5,076,113
Severn Trent PLC
 
101,450
3,127,338
Smith & Nephew PLC
 
329,826
3,996,058
Smiths Group PLC
 
131,240
2,650,094
Spirax-Sarco Engineering PLC
 
27,487
3,037,937
SSE PLC
 
409,570
8,513,486
St. James's Place PLC
 
204,211
1,111,529
Standard Chartered PLC (United Kingdom)
 
860,456
7,392,643
Taylor Wimpey PLC
 
1,308,117
2,155,981
Tesco PLC
 
2,662,991
9,831,952
Unilever PLC
 
941,703
48,715,056
United Utilities Group PLC
 
256,613
3,349,197
Vodafone Group PLC
 
8,436,908
7,114,862
Vodafone Group PLC sponsored ADR
 
20,171
169,638
Whitbread PLC
 
71,168
2,816,349
Wise PLC (b)
 
231,557
2,246,741
WPP PLC
 
405,762
4,067,019
TOTAL UNITED KINGDOM
 
 
656,508,385
United States of America - 5.9%
 
 
 
BP PLC
 
6,449,574
41,571,613
Brookfield Renewable Corp.
 
50,353
1,169,716
BRP, Inc.
 
13,044
877,591
CRH PLC
 
261,362
20,365,834
CSL Ltd.
 
182,197
32,372,059
CyberArk Software Ltd. (b)
 
15,819
3,784,696
Experian PLC
 
345,090
13,918,841
Ferrovial SE
 
196,415
7,084,956
GFL Environmental, Inc.
 
88,122
2,812,043
GSK PLC
 
1,550,003
32,157,788
Haleon PLC
 
2,609,944
11,022,689
Holcim AG
 
196,392
16,439,538
James Hardie Industries PLC CDI (b)
 
165,293
5,682,435
JBS SA
 
295,200
1,332,567
Legend Biotech Corp. ADR (b)
 
27,063
1,183,736
Monday.com Ltd. (b)
 
10,986
2,079,979
Nestle SA (Reg. S)
 
1,005,960
100,998,583
Parade Technologies Ltd.
 
28,000
634,542
QIAGEN NV (Germany)
 
83,667
3,489,431
Roche Holding AG:
 
 
 
 (Bearer)
 
11,964
3,134,002
 (participation certificate)
 
264,834
63,457,992
Sanofi SA
 
428,879
42,370,249
Schneider Electric SA
 
205,145
46,775,790
Shell PLC (London)
 
2,449,072
87,061,124
Stellantis NV (Italy)
 
834,372
18,592,425
Swiss Re Ltd.
 
113,780
12,355,202
Tenaris SA
 
177,446
2,968,381
TOTAL UNITED STATES OF AMERICA
 
 
575,693,802
Zambia - 0.0%
 
 
 
First Quantum Minerals Ltd.
 
266,971
3,389,862
 
TOTAL COMMON STOCKS
 (Cost $8,324,720,821)
 
 
 
9,483,171,263
 
 
 
 
Nonconvertible Preferred Stocks - 0.9%
 
 
Shares
Value ($)
 
Brazil - 0.4%
 
 
 
Banco Bradesco SA (PN)
 
1,992,644
5,372,456
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)
 
100,707
806,028
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
689,526
1,686,567
Companhia Paranaense de Energia-COPEL (PN-B)
 
428,100
749,418
Gerdau SA
 
526,248
1,850,574
Itau Unibanco Holding SA
 
1,816,721
10,971,839
Itausa-Investimentos Itau SA (PN)
 
2,040,280
3,756,322
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)
 
1,818,700
14,717,439
TOTAL BRAZIL
 
 
39,910,643
Chile - 0.0%
 
 
 
Sociedad Quimica y Minera de Chile SA (PN-B)
 
54,137
2,472,691
Colombia - 0.0%
 
 
 
Bancolombia SA (PN)
 
165,777
1,356,473
France - 0.0%
 
 
 
Air Liquide SA (b)
 
8,637
1,689,213
Germany - 0.3%
 
 
 
Bayerische Motoren Werke AG (BMW) (non-vtg.)
 
22,406
2,307,477
Dr. Ing. h.c. F. Porsche AG Series F (d)
 
42,877
3,817,187
Henkel AG & Co. KGaA
 
64,126
5,094,282
Porsche Automobil Holding SE (Germany)
 
58,129
2,961,760
Sartorius AG (non-vtg.)
 
9,948
2,997,040
Volkswagen AG
 
78,159
9,574,875
TOTAL GERMANY
 
 
26,752,621
Korea (South) - 0.2%
 
 
 
Hyundai Motor Co. Ltd.
 
8,326
944,764
Hyundai Motor Co. Ltd. Series 2
 
14,595
1,663,070
LG Chemical Ltd.
 
3,195
611,473
LG H & H Co. Ltd.
 
694
93,401
Samsung Electronics Co. Ltd.
 
317,192
14,768,590
TOTAL KOREA (SOUTH)
 
 
18,081,298
Russia - 0.0%
 
 
 
Surgutneftegas OJSC (b)(e)
 
2,913,333
50,470
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $89,807,212)
 
 
 
90,313,409
 
 
 
 
Nonconvertible Bonds - 0.0%
 
 
Principal
Amount (f)
 
Value ($)
 
India - 0.0%
 
 
 
NTPC Ltd. 8.49% 3/25/25
  (Cost $13,959)
INR
69,696
4,338
 
 
 
 
Government Obligations - 0.1%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $9,968,005)
 
10,000,000
9,967,733
 
 
 
 
Money Market Funds - 3.1%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
241,575,733
241,624,049
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
58,768,361
58,774,238
 
TOTAL MONEY MARKET FUNDS
 (Cost $300,398,287)
 
 
300,398,287
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.5%
 (Cost $8,724,908,284)
 
 
 
9,883,855,030
NET OTHER ASSETS (LIABILITIES) - (0.5)%  
(47,447,078)
NET ASSETS - 100.0%
9,836,407,952
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
1,507
Jun 2024
170,856,125
(3,221,175)
(3,221,175)
ICE MSCI Emerging Markets Index Contracts (United States)
1,437
Jun 2024
74,867,700
99,356
99,356
TME S&P/TSX 60 Index Contracts (Canada)
107
Jun 2024
20,293,975
(195,484)
(195,484)
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(3,317,303)
The notional amount of futures purchased as a percentage of Net Assets is 2.7%
 
 
Currency Abbreviations
         INR
-
Indian rupee
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(b)
Non-income producing
 
(c)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(d)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $203,820,019 or 2.1% of net assets.
 
(e)
Level 3 security
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $9,967,733.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
93,306,422
926,029,634
777,711,804
5,864,491
(203)
-
241,624,049
0.5%
Fidelity Securities Lending Cash Central Fund 5.39%
30,949,089
143,210,957
115,385,808
344,404
-
-
58,774,238
0.2%
Total
124,255,511
1,069,240,591
893,097,612
6,208,895
(203)
-
300,398,287
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
495,192,795
93,138,216
401,664,711
389,868
Consumer Discretionary
1,115,266,763
284,648,481
830,586,695
31,587
Consumer Staples
714,934,056
203,847,197
511,086,858
1
Energy
555,235,191
206,475,165
346,529,403
2,230,623
Financials
2,051,505,605
819,985,718
1,231,270,575
249,312
Health Care
889,733,151
130,614,029
759,119,116
6
Industrials
1,324,774,401
418,030,124
906,696,528
47,749
Information Technology
1,223,340,540
266,618,119
956,722,420
1
Materials
722,436,535
308,349,068
413,604,803
482,664
Real Estate
186,739,681
47,774,174
138,965,507
-
Utilities
294,325,954
94,974,999
199,282,855
68,100
 Corporate Bonds
4,338
-
4,338
-
 Government Obligations
9,967,733
-
9,967,733
-
  Money Market Funds
300,398,287
300,398,287
-
-
 Total Investments in Securities:
9,883,855,030
3,174,853,577
6,705,501,542
3,499,911
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
99,356
99,356
-
-
  Total Assets
99,356
99,356
-
-
 Liabilities
 
 
 
 
Futures Contracts
(3,416,659)
(3,416,659)
-
-
  Total Liabilities
(3,416,659)
(3,416,659)
-
-
 Total Derivative Instruments:
(3,317,303)
(3,317,303)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
99,356
(3,416,659)
Total Equity Risk
99,356
(3,416,659)
Total Value of Derivatives
99,356
(3,416,659)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity® Global ex U.S. Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $54,845,769) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $8,424,509,997)
$
9,583,456,743
 
 
Fidelity Central Funds (cost $300,398,287)
300,398,287
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $8,724,908,284)
 
 
$
9,883,855,030
Segregated cash with brokers for derivative instruments
 
 
728,927
Foreign currency held at value (cost $10,362,636)
 
 
10,249,811
Receivable for fund shares sold
 
 
6,104,933
Dividends receivable
 
 
31,410,093
Reclaims receivable
 
 
21,596,389
Distributions receivable from Fidelity Central Funds
 
 
867,971
  Total assets
 
 
9,954,813,154
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
361,865
 
 
Payable for fund shares redeemed
31,612,492
 
 
Accrued management fee
452,913
 
 
Payable for daily variation margin on futures contracts
3,988,230
 
 
Deferred taxes
23,210,274
 
 
Other payables and accrued expenses
6,593
 
 
Collateral on securities loaned
58,772,835
 
 
  Total liabilities
 
 
 
118,405,202
Net Assets  
 
 
$
9,836,407,952
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
9,392,157,342
Total accumulated earnings (loss)
 
 
 
444,250,610
Net Assets
 
 
$
9,836,407,952
Net Asset Value, offering price and redemption price per share ($9,836,407,952 ÷ 682,756,870 shares)
 
 
$
14.41
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
140,688,008
Interest  
 
 
285,782
Income from Fidelity Central Funds (including $344,404 from security lending)
 
 
6,208,895
 Income before foreign taxes withheld
 
 
$
147,182,685
Less foreign taxes withheld
 
 
(10,613,955)
 Total income
 
 
 
136,568,730
Expenses
 
 
 
 
Management fee
$
2,613,912
 
 
Independent trustees' fees and expenses
13,495
 
 
 Total expenses before reductions
 
2,627,407
 
 
 Expense reductions
 
(49,095)
 
 
 Total expenses after reductions
 
 
 
2,578,312
Net Investment income (loss)
 
 
 
133,990,418
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $121,202)
 
(78,219,374)
 
 
   Fidelity Central Funds
 
(203)
 
 
 Foreign currency transactions
 
(772,050)
 
 
 Futures contracts
 
31,258,126
 
 
Total net realized gain (loss)
 
 
 
(47,733,501)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $11,830,513)  
 
1,307,277,427
 
 
 Assets and liabilities in foreign currencies
 
(194,047)
 
 
 Futures contracts
 
(1,599,028)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
1,305,484,352
Net gain (loss)
 
 
 
1,257,750,851
Net increase (decrease) in net assets resulting from operations
 
 
$
1,391,741,269
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
133,990,418
$
275,258,066
Net realized gain (loss)
 
(47,733,501)
 
 
(221,998,269)
 
Change in net unrealized appreciation (depreciation)
 
1,305,484,352
 
915,261,834
 
Net increase (decrease) in net assets resulting from operations
 
1,391,741,269
 
 
968,521,631
 
Distributions to shareholders
 
(273,194,043)
 
 
(208,386,222)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,656,613,327
 
3,103,954,657
  Reinvestment of distributions
 
258,456,453
 
 
198,751,243
 
Cost of shares redeemed
 
(1,525,903,312)
 
(3,207,929,609)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
389,166,468
 
 
94,776,291
 
Total increase (decrease) in net assets
 
1,507,713,694
 
 
854,911,700
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
8,328,694,258
 
7,473,782,558
 
End of period
$
9,836,407,952
$
8,328,694,258
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
117,615,959
 
233,829,985
  Issued in reinvestment of distributions
 
18,824,212
 
 
15,938,351
 
Redeemed
 
(107,362,583)
 
(240,542,102)
Net increase (decrease)
 
29,077,588
 
9,226,234
 
 
 
 
 
 
Financial Highlights
 
Fidelity® Global ex U.S. Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
12.74
$
11.60
$
15.79
$
12.43
$
13.09
$
12.07
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.20
 
.42
 
.42
 
.38
 
.29
 
.41
     Net realized and unrealized gain (loss)
 
1.89
 
1.05
 
(4.21)
 
3.23
 
(.57)
 
.91
  Total from investment operations
 
2.09  
 
1.47  
 
(3.79)  
 
3.61  
 
(.28)
 
1.32
  Distributions from net investment income
 
(.42)
 
(.33)
 
(.40)
 
(.25)
 
(.38)
 
(.30)
     Total distributions
 
(.42)
 
(.33)
 
(.40)
 
(.25)
 
(.38)
 
(.30)
  Net asset value, end of period
$
14.41
$
12.74
$
11.60
$
15.79
$
12.43
$
13.09
 Total Return C,D
 
16.54
%
 
 
12.74%
 
(24.56)%
 
29.25%
 
(2.25)%
 
11.28%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.06% G
 
.06%
 
.06%
 
.05% H
 
.06%
 
.06%
    Expenses net of fee waivers, if any
 
.06
% G
 
 
.06%
 
.06%
 
.05% H
 
.06%
 
.06%
    Expenses net of all reductions
 
.05% G
 
.05%
 
.06%
 
.05% H
 
.06%
 
.06%
    Net investment income (loss)
 
2.80% G
 
3.13%
 
3.06%
 
2.46%
 
2.37%
 
3.32%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
9,836,408
$
8,328,694
$
7,473,783
$
9,132,488
$
5,621,566
$
5,343,395
    Portfolio turnover rate I
 
3
% G
 
 
8%
 
5% J
 
5% J
 
5%
 
5% J
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAnnualized.
 
HThe size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
JPortfolio turnover rate excludes securities received or delivered in-kind.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity Emerging Markets Index Fund and Fidelity Global ex U.S. Index Fund (the Funds) are funds of Fidelity Salem Street Trust (the Trust). Each Fund is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Investments in emerging markets, if applicable, can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated each Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, each Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages each Fund's fair valuation practices and maintains the fair valuation policies and procedures. Each Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
Each Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value each Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Corporate bonds and U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of each Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and for certain Funds include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable or reclaims receivable. Fidelity Global ex U.S. Index Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign taxes withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Deferred taxes on each applicable Fund's Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:
 
 
Tax cost ($)
Gross unrealized appreciation ($)
Gross unrealized depreciation ($)
Net unrealized appreciation (depreciation)($)
Fidelity Emerging Markets Index Fund 
7,386,289,874
1,617,766,411
(1,500,519,837)
117,246,574
Fidelity Global ex U.S. Index Fund
8,798,721,920
2,255,310,517
(1,173,494,710)
1,081,815,807
 
Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 
Short-term ($)
Long-term ($)
Total capital loss carryforward ($)
Fidelity Emerging Markets Index Fund 
 (155,918,326)
 (507,482,980)
  (663,401,306)
Fidelity Global ex U.S. Index Fund
 (93,999,433)
 (565,387,226)
  (659,386,659)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. Each Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Emerging Markets Index Fund
368,820,756
81,653,637
Fidelity Global ex U.S. Index Fund
287,491,510
128,202,126
6. Fees and Other Transactions with Affiliates.
Management Fee and Expense Contract. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services for which the Funds pay a monthly management fee. The management fee is based on an annual rate of .075% and .055% of average net assets for Fidelity Emerging Markets Index Fund and Fidelity Global ex U.S. Index Fund, respectively. The management fee is reduced by an amount equal to the fees and expenses paid by each Fund to the independent Trustees. Under the management contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense.
 
Under the expense contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees, as necessary so that the total expenses do not exceed .075%, and .055% of average net assets for Fidelity Emerging Markets Index Fund and Fidelity Global Ex-U.S. Index Fund, respectively. These expense contracts will remain in place through December 31, 2024.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Funds. Geode provides discretionary investment advisory services to the Funds and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Emerging Markets Index Fund
46,665
 -
-
Fidelity Global ex U.S. Index Fund
 36,615
 -
-
9. Expense Reductions.
Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's expenses. All of the applicable expense reductions are noted in the table below.
 
 
Custodian credits ($)
Fidelity Emerging Markets Index Fund 
 44,144
Fidelity Global ex U.S. Index Fund
 49,095
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Fidelity Multi-Asset Index Fund
Fidelity Emerging Markets Index Fund 
11%
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® Emerging Markets Index Fund
 
 
 
.07%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,139.60
 
$ .37
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.52
 
$ .35
 
 
 
 
 
 
 
 
 
 
Fidelity® Global ex U.S. Index Fund
 
 
 
.06%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,165.40
 
$ .32
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.57
 
$ .30
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Funds have adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage each Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. Each Fund's Board of Trustees (the Board) has designated each Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factor specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable. 
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.929371.112
EMX-I-GUX-I-SANN-0624
Fidelity® SAI Emerging Markets Value Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by Fidelity Product Services LLC (FPS), and FPS bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the relationship between FPS and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
7.0
 
Samsung Electronics Co. Ltd.  (Korea (South), Technology Hardware, Storage & Peripherals)
3.5
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
2.6
 
Hon Hai Precision Industry Co. Ltd. (Foxconn)  (Taiwan, Electronic Equipment, Instruments & Components)
2.2
 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (Brazil, Oil, Gas & Consumable Fuels)
1.9
 
China Construction Bank Corp. (H Shares)  (China, Banks)
1.9
 
JD.com, Inc. Class A (China, Broadline Retail)
1.7
 
Bank of China Ltd. (H Shares) (China, Banks)
1.6
 
Alibaba Group Holding Ltd.  (China, Broadline Retail)
1.6
 
Industrial & Commercial Bank of China Ltd. (H Shares)  (China, Banks)
1.5
 
 
25.5
 
 
Market Sectors (% of Fund's net assets)
 
Financials
24.1
 
Information Technology
23.5
 
Consumer Discretionary
12.7
 
Communication Services
7.8
 
Materials
6.7
 
Industrials
6.5
 
Energy
5.4
 
Consumer Staples
4.3
 
Utilities
3.1
 
Health Care
3.1
 
Real Estate
1.6
 
 
Asset Allocation (% of Fund's net assets)
Futures - 1.1%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Common Stocks - 95.7%
 
 
Shares
Value ($)
 
Brazil - 2.7%
 
 
 
Banco do Brasil SA
 
8,738,200
46,142,866
Telefonica Brasil SA
 
1,065,300
9,712,148
Vale SA
 
5,363,400
65,371,796
Vibra Energia SA
 
16,100
72,739
TOTAL BRAZIL
 
 
121,299,549
China - 20.3%
 
 
 
Agricultural Bank of China Ltd. (H Shares)
 
93,739,000
41,799,245
Alibaba Group Holding Ltd.
 
7,550,400
70,694,883
Anhui Conch Cement Co. Ltd. (H Shares)
 
3,606,500
8,367,317
Bank of China Ltd. (H Shares)
 
158,910,000
71,269,618
Bank of Communications Co. Ltd. (H Shares)
 
65,129,000
46,896,736
Beijing Enterprises Holdings Ltd.
 
1,460,200
4,674,905
China CITIC Bank Corp. Ltd. (H Shares)
 
27,684,000
16,196,070
China Construction Bank Corp. (H Shares)
 
128,225,000
82,960,430
China Galaxy Securities Co. Ltd. (H Shares)
 
10,580,500
5,731,110
China Merchants Bank Co. Ltd. (H Shares)
 
9,844,500
42,635,128
China Minsheng Banking Corp. Ltd. (H Shares)
 
20,044,500
7,333,910
China Overseas Land and Investment Ltd.
 
11,348,000
20,867,531
China Railway Group Ltd. (H Shares)
 
12,831,000
6,331,571
China Resources Land Ltd.
 
2,879,000
10,352,415
China State Construction International Holdings Ltd.
 
5,377,400
5,673,710
China Tower Corp. Ltd. (H Shares) (a)
 
142,302,000
16,657,779
CITIC Pacific Ltd.
 
19,517,000
18,470,936
COSCO SHIPPING Holdings Co. Ltd. (H Shares)
 
10,230,300
13,236,307
CRRC Corp. Ltd. (H Shares)
 
13,330,000
7,358,067
GCL Technology Holdings Ltd.
 
62,560,000
9,265,946
Geely Automobile Holdings Ltd.
 
15,958,000
19,206,388
Hengan International Group Co. Ltd.
 
1,984,500
6,662,306
Industrial & Commercial Bank of China Ltd. (H Shares)
 
125,674,000
67,389,989
JD.com, Inc. Class A
 
5,231,450
75,376,679
Kunlun Energy Co. Ltd.
 
12,146,000
11,774,079
Lenovo Group Ltd.
 
20,118,000
22,627,915
Longfor Properties Co. Ltd. (a)(b)
 
5,226,620
7,741,385
PDD Holdings, Inc. ADR (c)
 
80,483
10,074,862
People's Insurance Co. of China Group Ltd. (H Shares)
 
25,014,000
8,210,227
Postal Savings Bank of China Co. Ltd. (H Shares) (a)
 
23,010,000
11,922,695
Qifu Technology, Inc. ADR
 
393,913
7,204,669
Sinopharm Group Co. Ltd. (H Shares)
 
4,092,000
10,333,782
SITC International Holdings Co. Ltd.
 
3,927,000
8,516,074
Tencent Holdings Ltd.
 
2,570,300
112,792,990
Yangzijiang Shipbuilding Holdings Ltd.
 
8,240,900
10,578,125
TOTAL CHINA
 
 
897,185,779
Czech Republic - 0.1%
 
 
 
CEZ A/S
 
151,705
5,599,823
Egypt - 0.1%
 
 
 
Commercial International Bank SAE
 
1,445,360
2,171,816
Greece - 0.5%
 
 
 
Eurobank Ergasias Services and Holdings SA (c)
 
4,560,145
9,781,839
National Bank of Greece SA (c)
 
1,474,544
11,896,668
TOTAL GREECE
 
 
21,678,507
Hong Kong - 0.5%
 
 
 
Orient Overseas International Ltd.
 
402,700
5,873,390
WH Group Ltd. (a)
 
23,867,000
17,347,493
TOTAL HONG KONG
 
 
23,220,883
Hungary - 0.3%
 
 
 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
1,374,371
11,278,926
Richter Gedeon PLC
 
87
2,215
TOTAL HUNGARY
 
 
11,281,141
India - 21.2%
 
 
 
Aurobindo Pharma Ltd.
 
837,616
11,556,733
Bank of Baroda
 
3,154,034
10,601,847
Britannia Industries Ltd.
 
159,861
9,134,289
Canara Bank Ltd.
 
1,106,445
8,222,072
Cipla Ltd./India (c)
 
1,610,798
26,957,559
Dr. Reddy's Laboratories Ltd.
 
362,529
26,894,766
Federal Bank Ltd.
 
5,479,180
10,639,446
GAIL India Ltd.
 
7,477,336
18,673,958
HCL Technologies Ltd.
 
2,756,896
44,965,942
HDFC Bank Ltd.
 
1,216,134
22,079,430
Hero Motocorp Ltd.
 
396,214
21,497,234
Hindalco Industries Ltd.
 
4,454,407
34,248,085
IDFC Ltd. (c)
 
4,049,720
5,888,427
Indus Towers Ltd. (c)
 
2,547,660
10,779,315
Infosys Ltd.
 
2,481,421
41,885,688
ITC Ltd.
 
9,127,663
47,580,250
LIC Housing Finance Ltd.
 
922,585
7,428,113
Mahindra & Mahindra Ltd.
 
2,404,268
61,997,798
MakeMyTrip Ltd. (c)
 
162,054
10,729,595
Maruti Suzuki India Ltd.
 
273,549
41,955,761
NMDC Ltd.
 
3,403,873
10,326,704
NTPC Ltd.
 
11,717,954
50,910,991
Oil & Natural Gas Corp. Ltd.
 
11,892,783
40,135,717
Power Finance Corp. Ltd.
 
4,428,037
23,334,658
REC Ltd.
 
3,774,131
22,856,038
Reliance Industries Ltd.
 
900,934
31,617,629
State Bank of India
 
5,443,155
53,751,944
Sun Pharmaceutical Industries Ltd.
 
2,609,939
46,874,662
Tata Motors Ltd.
 
4,986,430
60,114,555
Tata Steel Ltd.
 
24,021,848
47,338,004
Tech Mahindra Ltd.
 
1,904,541
28,681,288
Union Bank of India Ltd.
 
4,520,881
8,330,929
Vedanta Ltd.
 
3,627,415
17,307,500
Wipro Ltd.
 
4,299,764
23,672,595
TOTAL INDIA
 
 
938,969,522
Indonesia - 1.5%
 
 
 
PT Adaro Energy Indonesia Tbk
 
42,918,600
7,132,974
PT Astra International Tbk
 
61,727,700
19,478,512
PT Indofood Sukses Makmur Tbk
 
13,388,100
5,141,087
PT Telkom Indonesia Persero Tbk
 
144,367,700
27,986,906
PT United Tractors Tbk
 
4,550,100
6,934,788
TOTAL INDONESIA
 
 
66,674,267
Korea (South) - 12.4%
 
 
 
Hana Financial Group, Inc.
 
891,548
37,497,383
Hankook Tire Co. Ltd.
 
226,656
9,590,613
HMM Co. Ltd.
 
882,520
10,047,639
Hyundai Engineering & Construction Co. Ltd.
 
220,729
5,607,372
Hyundai Glovis Co. Ltd.
 
67,471
8,807,916
Hyundai Mobis
 
192,641
31,427,706
Hyundai Motor Co. Ltd.
 
332,985
59,728,314
Industrial Bank of Korea
 
972,708
9,751,775
KB Financial Group, Inc.
 
1,117,608
60,445,943
Kia Corp.
 
608,541
51,412,854
Korea Investment Holdings Co. Ltd.
 
136,268
6,567,879
Korean Air Lines Co. Ltd.
 
561,449
8,443,046
Kumho Petro Chemical Co. Ltd.
 
55,777
5,532,189
LG Electronics, Inc.
 
234,775
15,592,739
Samsung Electronics Co. Ltd.
 
2,795,957
154,982,763
Shinhan Financial Group Co. Ltd.
 
1,493,438
50,035,024
Woori Financial Group, Inc.
 
2,040,845
20,855,483
TOTAL KOREA (SOUTH)
 
 
546,326,638
Kuwait - 0.7%
 
 
 
Agility Global PLC (d)(e)
 
9,140,210
370,590
Agility Public Warehousing Co. KSC (e)
 
4,570,105
4,869,541
Mobile Telecommunication Co.
 
6,333,808
10,025,619
National Bank of Kuwait
 
5,794,242
16,256,955
TOTAL KUWAIT
 
 
31,522,705
Malaysia - 1.5%
 
 
 
AMMB Holdings Bhd
 
6,670,394
5,863,424
Genting Bhd
 
6,738,886
6,369,473
Kuala Lumpur Kepong Bhd
 
1,714,214
8,280,169
PPB Group Bhd
 
2,169,102
7,145,827
RHB Bank Bhd
 
6,081,681
7,000,646
Sime Darby Plantation Bhd
 
11,388,390
10,635,150
Telekom Malaysia Bhd
 
4,791,650
6,209,929
Tenaga Nasional Bhd
 
5,879,641
14,722,860
TOTAL MALAYSIA
 
 
66,227,478
Mexico - 2.3%
 
 
 
Alfa SA de CV Series A
 
9,551,838
7,025,563
America Movil S.A.B. de CV Series L
 
52,591,815
50,072,093
CEMEX S.A.B. de CV unit (c)
 
18,292,792
14,490,503
Fibra Uno Administracion SA de CV
 
8,593,143
12,334,859
Orbia Advance Corp. S.A.B. de CV
 
2,942,148
4,832,949
Ternium SA sponsored ADR
 
149,661
6,300,728
Terrafina (b)
 
2,355,661
5,791,950
TOTAL MEXICO
 
 
100,848,645
Peru - 0.2%
 
 
 
Credicorp Ltd. (United States)
 
54,335
8,998,419
Philippines - 0.6%
 
 
 
Aboitiz Equity Ventures, Inc.
 
6,855,029
4,997,021
Ayala Corp.
 
756,049
8,043,276
JG Summit Holdings, Inc.
 
4,522,233
2,642,626
PLDT, Inc.
 
261,572
6,096,695
Universal Robina Corp.
 
2,657,078
4,712,695
TOTAL PHILIPPINES
 
 
26,492,313
Poland - 1.1%
 
 
 
Bank Polska Kasa Opieki SA
 
114,068
4,752,365
KGHM Polska Miedz SA (Bearer)
 
414,734
14,380,322
Orlen SA
 
1,770,158
28,993,516
TOTAL POLAND
 
 
48,126,203
Qatar - 0.8%
 
 
 
Barwa Real Estate Co.
 
6,493,309
5,011,315
Industries Qatar QSC
 
4,734,964
15,930,598
Ooredoo QSC
 
2,344,372
6,432,375
Qatar National Bank SAQ
 
1,932,740
7,362,566
The Commercial Bank of Qatar
 
744,678
849,395
TOTAL QATAR
 
 
35,586,249
Russia - 0.0%
 
 
 
Gazprom OAO (c)(e)
 
9,889,350
1,030,379
Inter Rao Ues JSC (c)(e)
 
63,735,100
349,878
Magnit OJSC (c)(e)
 
135,409
2,770
Sberbank of Russia (c)(e)
 
440,500
2,697
Surgutneftegas OJSC (c)(e)
 
29,672,400
361,526
VK Co. Ltd. GDR (Reg. S) (c)(e)
 
217,763
2
VTB Bank OJSC (c)(e)
 
9,075,720,096
345,256
TOTAL RUSSIA
 
 
2,092,508
Saudi Arabia - 3.3%
 
 
 
Almarai Co. Ltd.
 
701,390
10,622,021
Banque Saudi Fransi
 
1,304,670
12,748,935
Etihad Etisalat Co.
 
1,150,583
15,952,199
Riyad Bank
 
2,441,578
18,032,238
Sabic Agriculture-Nutrients Co.
 
275,724
8,512,995
Sahara International Petrochemical Co.
 
1,095,794
10,021,259
Saudi Electricity Co.
 
2,414,162
11,985,201
Saudi Telecom Co.
 
4,848,396
48,670,109
The Savola Group
 
797,909
10,743,456
TOTAL SAUDI ARABIA
 
 
147,288,413
South Africa - 2.6%
 
 
 
Absa Group Ltd. (b)
 
2,536,501
19,559,150
Aspen Pharmacare Holdings Ltd.
 
1,103,087
13,140,984
Bidvest Group Ltd./The
 
663,910
8,658,082
Exxaro Resources Ltd.
 
734,998
7,042,078
Impala Platinum Holdings Ltd.
 
2,674,844
11,907,214
MTN Group Ltd.
 
5,114,042
24,510,619
Sasol Ltd.
 
1,760,322
12,366,815
Sibanye-Stillwater Ltd.
 
8,629,498
9,849,281
Vodacom Group Ltd.
 
2,091,017
10,006,272
TOTAL SOUTH AFRICA
 
 
117,040,495
Taiwan - 19.4%
 
 
 
Acer, Inc.
 
9,077,000
12,467,324
ASE Technology Holding Co. Ltd.
 
10,419,000
46,787,547
ASUSTeK Computer, Inc.
 
2,054,000
26,885,707
Catcher Technology Co. Ltd.
 
2,075,000
13,835,695
Cathay Financial Holding Co. Ltd.
 
28,093,023
43,364,529
Cheng Shin Rubber Industry Co. Ltd.
 
1,351,000
1,947,012
Compal Electronics, Inc.
 
12,633,000
13,755,060
EVA Airways Corp.
 
8,231,000
8,933,139
Evergreen Marine Corp. (Taiwan)
 
3,098,300
17,970,828
Far Eastern New Century Corp.
 
11,589,900
11,540,861
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
20,384,000
96,862,449
Largan Precision Co. Ltd.
 
309,000
20,560,687
Novatek Microelectronics Corp.
 
1,686,000
31,800,697
Pegatron Corp.
 
6,257,000
18,627,851
Pou Chen Corp.
 
7,638,000
8,439,243
Powertech Technology, Inc.
 
2,153,000
11,445,133
Radiant Opto-Electronics Corp.
 
1,418,000
8,630,062
Simplo Technology Co. Ltd.
 
564,000
7,518,358
Sino-American Silicon Products, Inc.
 
1,698,000
10,091,511
Taiwan Semiconductor Manufacturing Co. Ltd.
 
12,922,000
308,851,255
Uni-President Enterprises Corp.
 
14,555,000
34,079,609
United Microelectronics Corp.
 
34,562,000
53,007,434
Wan Hai Lines Ltd.
 
4,279,000
6,634,608
WT Microelectronics Co. Ltd.
 
1,497,000
6,821,895
Yageo Corp.
 
1,020,000
19,421,400
Yang Ming Marine Transport Corp.
 
5,325,000
8,498,398
Zhen Ding Technology Holding Ltd.
 
1,935,400
6,838,306
TOTAL TAIWAN
 
 
855,616,598
Thailand - 1.2%
 
 
 
Bangkok Bank PCL:
 
 
 
 (For. Reg.)
 
400
1,472
 NVDR
 
1,745,900
6,424,004
Charoen Pokphand Foods PCL NVDR
 
10,258,200
5,456,428
Kasikornbank PCL:
 
 
 
 (For. Reg.)
 
7,700
26,957
 NVDR
 
3,449,800
12,077,240
PTT Exploration and Production PCL NVDR
 
2,957,600
12,339,223
SCB X PCL NVDR
 
2,351,800
6,716,683
Thai Beverage PCL (b)
 
26,050,800
9,433,383
TOTAL THAILAND
 
 
52,475,390
Turkey - 0.9%
 
 
 
Haci Omer Sabanci Holding A/S
 
359,566
1,024,754
Koc Holding A/S
 
3,851,195
26,886,570
Turkiye Is Bankasi A/S Series C
 
24,308,773
10,290,579
TOTAL TURKEY
 
 
38,201,903
United Arab Emirates - 1.3%
 
 
 
Air Arabia PJSC (c)
 
6,973,280
5,088,184
Emaar Properties PJSC
 
4,694,427
10,493,410
Emirates NBD Bank PJSC
 
7,512,409
34,771,149
Multiply Group (c)
 
11,271,025
7,058,008
TOTAL UNITED ARAB EMIRATES
 
 
57,410,751
United States of America - 0.2%
 
 
 
JBS SA
 
2,029,300
9,160,496
 
TOTAL COMMON STOCKS
 (Cost $3,915,460,825)
 
 
 
4,231,496,491
 
 
 
 
Nonconvertible Preferred Stocks - 3.1%
 
 
Shares
Value ($)
 
Brazil - 2.6%
 
 
 
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
7,200,830
17,613,092
Gerdau SA
 
4,232,268
14,882,951
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)
 
10,387,300
84,056,994
TOTAL BRAZIL
 
 
116,553,037
Chile - 0.4%
 
 
 
Sociedad Quimica y Minera de Chile SA (PN-B)
 
365,394
16,689,263
Colombia - 0.1%
 
 
 
Bancolombia SA (PN)
 
588,965
4,819,214
Russia - 0.0%
 
 
 
AK Transneft OAO (c)(e)
 
279,200
806,677
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $115,237,324)
 
 
 
138,868,191
 
 
 
 
Government Obligations - 0.1%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $1,893,921)
 
1,900,000
1,893,869
 
 
 
 
Money Market Funds - 1.9%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
68,513,357
68,527,059
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
15,662,926
15,664,493
 
TOTAL MONEY MARKET FUNDS
 (Cost $84,191,567)
 
 
84,191,552
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.8%
 (Cost $4,116,783,637)
 
 
 
4,456,450,103
NET OTHER ASSETS (LIABILITIES) - (0.8)%  
(34,361,423)
NET ASSETS - 100.0%
4,422,088,680
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE MSCI Emerging Markets Index Contracts (United States)
938
Jun 2024
48,869,800
121,544
121,544
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 1.1%
 
 
Legend
 
(a)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $53,669,352 or 1.2% of net assets.
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Non-income producing
 
(d)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(e)
Level 3 security
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,435,354.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
38,494,181
734,610,192
704,577,265
1,749,488
(34)
(15)
68,527,059
0.1%
Fidelity Securities Lending Cash Central Fund 5.39%
3,000,000
94,302,688
81,638,195
51,232
-
-
15,664,493
0.1%
Total
41,494,181
828,912,880
786,215,460
1,800,720
(34)
(15)
84,191,552
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
355,905,050
140,864,543
215,040,505
2
Consumer Discretionary
556,228,448
20,877,196
535,351,252
-
Consumer Staples
196,137,429
30,525,973
165,608,686
2,770
Energy
231,730,427
124,329,436
105,202,409
2,198,582
Financials
1,059,118,034
197,104,427
861,665,654
347,953
Health Care
135,760,701
2,215
135,758,486
-
Industrials
290,259,821
78,678,186
206,341,504
5,240,131
Information Technology
1,040,290,508
-
1,040,290,508
-
Materials
296,036,612
138,793,503
157,243,109
-
Real Estate
72,592,865
33,631,534
38,961,331
-
Utilities
136,304,787
35,198,116
100,756,793
349,878
 Government Obligations
1,893,869
-
1,893,869
-
  Money Market Funds
84,191,552
84,191,552
-
-
 Total Investments in Securities:
4,456,450,103
884,196,681
3,564,114,106
8,139,316
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
121,544
121,544
-
-
  Total Assets
121,544
121,544
-
-
 Total Derivative Instruments:
121,544
121,544
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
121,544
0
Total Equity Risk
121,544
0
Total Value of Derivatives
121,544
0
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $14,700,529) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $4,032,592,070)
$
4,372,258,551
 
 
Fidelity Central Funds (cost $84,191,567)
84,191,552
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $4,116,783,637)
 
 
$
4,456,450,103
Foreign currency held at value (cost $6,060,115)
 
 
6,043,473
Receivable for fund shares sold
 
 
8,899
Dividends receivable
 
 
10,357,421
Distributions receivable from Fidelity Central Funds
 
 
354,772
Prepaid expenses
 
 
847
Other receivables
 
 
269,640
  Total assets
 
 
4,473,485,155
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
370,595
 
 
Payable for fund shares redeemed
150,562
 
 
Accrued management fee
542,377
 
 
Payable for daily variation margin on futures contracts
665,455
 
 
Other payables and accrued expenses
34,002,993
 
 
Collateral on securities loaned
15,664,493
 
 
  Total liabilities
 
 
 
51,396,475
Net Assets  
 
 
$
4,422,088,680
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
4,419,226,248
Total accumulated earnings (loss)
 
 
 
2,862,432
Net Assets
 
 
$
4,422,088,680
Net Asset Value, offering price and redemption price per share ($4,422,088,680 ÷ 346,868,612 shares)
 
 
$
12.75
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
56,931,018
Interest  
 
 
96,793
Income from Fidelity Central Funds (including $51,232 from security lending)
 
 
1,800,720
 Income before foreign taxes withheld
 
 
$
58,828,531
Less foreign taxes withheld
 
 
(6,013,214)
 Total income
 
 
 
52,815,317
Expenses
 
 
 
 
Management fee
$
2,650,244
 
 
Custodian fees and expenses
903,710
 
 
Independent trustees' fees and expenses
4,667
 
 
Registration fees
204,755
 
 
Audit
51,544
 
 
Legal
2,010
 
 
Interest
22,586
 
 
Miscellaneous
5,728
 
 
 Total expenses
 
 
 
3,845,244
Net Investment income (loss)
 
 
 
48,970,073
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $4,499,104)
 
(28,082,223)
 
 
   Fidelity Central Funds
 
(34)
 
 
 Foreign currency transactions
 
(1,054,121)
 
 
 Futures contracts
 
4,341,402
 
 
Total net realized gain (loss)
 
 
 
(24,794,976)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $20,416,705)  
 
541,281,200
 
 
   Fidelity Central Funds
 
(15)
 
 
 Assets and liabilities in foreign currencies
 
(103,147)
 
 
 Futures contracts
 
1,212,380
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
542,390,418
Net gain (loss)
 
 
 
517,595,442
Net increase (decrease) in net assets resulting from operations
 
 
$
566,565,515
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
48,970,073
$
127,681,738
Net realized gain (loss)
 
(24,794,976)
 
 
(126,672,744)
 
Change in net unrealized appreciation (depreciation)
 
542,390,418
 
377,118,545
 
Net increase (decrease) in net assets resulting from operations
 
566,565,515
 
 
378,127,539
 
Distributions to shareholders
 
(143,891,024)
 
 
(124,080,652)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,140,705,366
 
172,147,252
  Reinvestment of distributions
 
132,127,272
 
 
113,809,111
 
Cost of shares redeemed
 
(31,863,076)
 
(214,463,522)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
1,240,969,562
 
 
71,492,841
 
Total increase (decrease) in net assets
 
1,663,644,053
 
 
325,539,728
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
2,758,444,627
 
2,432,904,899
 
End of period
$
4,422,088,680
$
2,758,444,627
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
93,120,039
 
15,065,921
  Issued in reinvestment of distributions
 
11,600,287
 
 
10,374,577
 
Redeemed
 
(2,670,293)
 
(19,027,713)
Net increase (decrease)
 
102,050,033
 
6,412,785
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI Emerging Markets Value Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 A
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
11.27
$
10.20
$
14.32
$
11.78
$
10.00
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) B,C
 
.17
 
.53
 
.61
 
.51
 
.19
     Net realized and unrealized gain (loss)
 
1.88
 
1.07
 
(4.04)
 
2.22
 
1.59
  Total from investment operations
 
2.05  
 
1.60  
 
(3.43)  
 
2.73  
 
1.78
  Distributions from net investment income
 
(.57)
 
(.53)
 
(.37)
 
(.17)
 
-
  Distributions from net realized gain
 
-
 
-
 
(.32)
 
(.02)
 
-
     Total distributions
 
(.57)
 
(.53)
 
(.69)
 
(.19)
 
-
  Net asset value, end of period
$
12.75
$
11.27
$
10.20
$
14.32
$
11.78
 Total Return D,E
 
18.83
%
 
 
15.81%
 
(25.19)%
 
23.32%
 
17.80%
 Ratios to Average Net Assets C,F,G
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.22% H,I
 
.22%
 
.22%
 
.22%
 
.27% I,J
    Expenses net of fee waivers, if any
 
.22
% H,I
 
 
.22%
 
.22%
 
.22%
 
.25% I
    Expenses net of all reductions
 
.22% H,I
 
.22%
 
.22%
 
.22%
 
.25% I
    Net investment income (loss)
 
2.77% H,I
 
4.63%
 
4.95%
 
3.53%
 
3.43% I
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
4,422,089
$
2,758,445
$
2,432,905
$
1,970,050
$
838,148
    Portfolio turnover rate K
 
31
% I
 
 
35%
 
30%
 
33%
 
17% L
 
AFor the period May 12, 2020 (commencement of operations) through October 31, 2020.
 
BCalculated based on average shares outstanding during the period.
 
CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HProxy expenses are not annualized.
 
IAnnualized.
 
JAudit fees are not annualized.
 
KAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
LAmount not annualized.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity SAI Emerging Markets Value Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Deferred taxes on the Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to, futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$682,054,279
Gross unrealized depreciation
(390,634,261)
Net unrealized appreciation (depreciation)
$291,420,018
Tax cost
$4,165,151,629
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(120,116,043)
 Long-term
(151,722,339)
Total capital loss carryforward
$(271,838,382)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI Emerging Markets Value Index Fund
1,655,922,703
543,453,029
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .15% of the Fund's average net assets.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:
 
 
Borrower or Lender
Average Loan Balance ($)
Weighted Average Interest Rate
Interest Expense ($)
Fidelity SAI Emerging Markets Value Index Fund 
 Borrower
 36,510,000
5.57%
 22,586
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
 
Amount
Fidelity SAI Emerging Markets Value Index Fund
$3,094
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS
Security Lending Income From Securities Loaned to NFS
Value of Securities Loaned to NFS at Period End
Fidelity SAI Emerging Markets Value Index Fund
$5,441
 $-
$-
9. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Emerging Markets Fund
Strategic Advisers Fidelity Emerging Markets Fund
Fidelity SAI Emerging Markets Value Index Fund
27%
68%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI Emerging Markets Value Index Fund
95%
10. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI Emerging Markets Value Index Fund
 
 
 
.22%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,188.30
 
$ 1.20
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,023.77
 
$ 1.11
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9900584.103
EMV-SANN-0624
Fidelity® SAI Emerging Markets Low Volatility Index Fund
Fidelity® SAI International Low Volatility Index Fund
Fidelity® SAI U.S. Low Volatility Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Fidelity® SAI Emerging Markets Low Volatility Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity® SAI International Low Volatility Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity® SAI U.S. Low Volatility Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by Fidelity Product Services LLC (FPS), and FPS bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the relationship between FPS and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Funds nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
PetroChina Co. Ltd. (H Shares)  (China, Oil, Gas & Consumable Fuels)
1.9
 
Bank of China Ltd. (H Shares) (China, Banks)
1.8
 
Agricultural Bank of China Ltd. (H Shares) (China, Banks)
1.7
 
Bank of Communications Co. Ltd. (H Shares)  (China, Banks)
1.7
 
Power Grid Corp. of India Ltd.  (India, Electric Utilities)
1.6
 
China Shenhua Energy Co. Ltd. (H Shares)  (China, Oil, Gas & Consumable Fuels)
1.6
 
Industrial & Commercial Bank of China Ltd. (H Shares)  (China, Banks)
1.6
 
China Construction Bank Corp. (H Shares)  (China, Banks)
1.6
 
Dr. Reddy's Laboratories Ltd.  (India, Pharmaceuticals)
1.5
 
Nestle India Ltd.  (India, Food Products)
1.5
 
 
16.5
 
 
Market Sectors (% of Fund's net assets)
 
Financials
29.4
 
Information Technology
17.7
 
Communication Services
11.3
 
Consumer Staples
9.4
 
Consumer Discretionary
7.2
 
Utilities
6.8
 
Health Care
5.4
 
Materials
4.3
 
Energy
4.2
 
Industrials
2.1
 
Real Estate
1.4
 
 
Asset Allocation (% of Fund's net assets)
Futures - 0.8%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
Fidelity® SAI Emerging Markets Low Volatility Index Fund
Common Stocks - 99.2%
 
 
Shares
Value ($)
 
Brazil - 1.5%
 
 
 
Rumo SA
 
7,472,900
29,013,146
Telefonica Brasil SA
 
2,612,500
23,817,692
TOTAL BRAZIL
 
 
52,830,838
Chile - 0.8%
 
 
 
Banco de Chile
 
239,676,975
26,587,780
China - 17.9%
 
 
 
Agricultural Bank of China Ltd. (H Shares)
 
133,016,000
59,313,289
Bank of China Ltd. (H Shares)
 
136,878,000
61,388,476
Bank of Communications Co. Ltd. (H Shares)
 
80,959,000
58,295,273
CGN Power Co. Ltd. (H Shares) (a)
 
79,243,000
26,570,823
China CITIC Bank Corp. Ltd. (H Shares)
 
69,024,000
40,381,359
China Construction Bank Corp. (H Shares)
 
86,643,000
56,057,247
China Minsheng Banking Corp. Ltd. (H Shares)
 
51,533,000
18,854,966
China Railway Group Ltd. (H Shares)
 
30,577,000
15,088,493
China Resources Power Holdings Co. Ltd.
 
2,059,000
5,120,437
China Shenhua Energy Co. Ltd. (H Shares)
 
13,723,500
56,958,988
China Tower Corp. Ltd. (H Shares) (a)
 
198,390,000
23,223,404
Hengan International Group Co. Ltd.
 
4,542,000
15,248,271
Industrial & Commercial Bank of China Ltd. (H Shares)
 
105,478,000
56,560,317
PetroChina Co. Ltd. (H Shares)
 
70,936,000
66,094,018
Postal Savings Bank of China Co. Ltd. (H Shares) (a)
 
56,209,000
29,124,849
Want Want China Holdings Ltd.
 
38,544,000
21,983,636
Yum China Holdings, Inc.
 
249,446
9,107,273
TOTAL CHINA
 
 
619,371,119
India - 19.2%
 
 
 
Cipla Ltd./India (b)
 
2,386,481
39,939,026
Crompton Greaves Consumer Electricals Ltd.
 
2,665,540
10,158,018
Dr. Reddy's Laboratories Ltd.
 
709,006
52,598,690
Embassy Office Parks (REIT)
 
7,097,556
30,342,992
FSN E-Commerce Ventures Ltd. (b)
 
8,907,771
18,799,979
HCL Technologies Ltd.
 
2,719,220
44,351,434
Hindustan Unilever Ltd.
 
1,699,265
45,369,575
Infosys Ltd.
 
2,371,166
40,024,615
Jubilant Foodworks Ltd.
 
2,904,586
16,087,063
Nestle India Ltd.
 
1,705,284
51,173,815
Pidilite Industries Ltd.
 
1,171,694
42,724,549
Power Grid Corp. of India Ltd.
 
15,928,237
57,433,266
Sona Blw Precision Forgings Ltd. (a)
 
3,135,736
23,432,699
Sun Pharmaceutical Industries Ltd.
 
1,299,454
23,338,272
Tata Consultancy Services Ltd.
 
1,112,595
50,764,523
Tech Mahindra Ltd.
 
2,683,417
40,410,711
Tvs Motor Co. Ltd.
 
1,812,296
44,610,423
Wipro Ltd.
 
6,205,085
34,162,448
TOTAL INDIA
 
 
665,722,098
Indonesia - 2.1%
 
 
 
PT Bank Central Asia Tbk
 
76,459,800
45,974,101
PT Telkom Indonesia Persero Tbk
 
137,070,900
26,572,360
TOTAL INDONESIA
 
 
72,546,461
Korea (South) - 7.7%
 
 
 
Coway Co. Ltd.
 
414,887
16,576,511
Db Insurance Co. Ltd.
 
289,331
20,238,279
Hankook Tire Co. Ltd.
 
568,113
24,038,861
Hyundai Mobis
 
280,846
45,817,585
Industrial Bank of Korea
 
2,131,811
21,372,232
KT&G Corp.
 
757,767
48,690,624
NCSOFT Corp.
 
115,691
14,576,679
Samsung Electronics Co. Ltd.
 
716,984
39,743,158
Samsung SDS Co. Ltd.
 
300,956
34,476,837
SK Hynix, Inc.
 
23,511
2,893,269
TOTAL KOREA (SOUTH)
 
 
268,424,035
Kuwait - 2.5%
 
 
 
Boubyan Bank KSC
 
8,281,659
15,821,917
Mobile Telecommunication Co.
 
16,398,034
25,956,019
National Bank of Kuwait
 
16,470,153
46,210,452
TOTAL KUWAIT
 
 
87,988,388
Malaysia - 4.8%
 
 
 
CelcomDigi Bhd
 
20,328,400
17,645,460
IHH Healthcare Bhd
 
22,200,900
29,210,570
Malayan Banking Bhd
 
6,880,816
14,020,801
MISC Bhd
 
10,492,600
17,483,516
Petronas Gas Bhd
 
2,842,400
10,712,013
PPB Group Bhd
 
3,640,200
11,992,170
Public Bank Bhd
 
19,578,300
16,886,441
Tenaga Nasional Bhd
 
18,614,500
46,611,463
TOTAL MALAYSIA
 
 
164,562,434
Mexico - 0.4%
 
 
 
Kimberly-Clark de Mexico SA de CV Series A
 
7,177,100
14,940,116
Philippines - 2.1%
 
 
 
Bank of the Philippine Islands (BPI)
 
11,695,003
25,626,888
BDO Unibank, Inc.
 
12,830,462
32,679,533
Manila Electric Co.
 
253,570
1,608,087
PLDT, Inc.
 
617,585
14,394,611
TOTAL PHILIPPINES
 
 
74,309,119
Qatar - 2.4%
 
 
 
Masraf al Rayan
 
6,108,175
4,214,154
Qatar Electricity & Water Co.
 
1,182,309
4,951,995
Qatar Islamic Bank
 
6,674,527
33,546,785
Qatar National Bank SAQ
 
8,117,781
30,923,818
The Commercial Bank of Qatar
 
8,390,317
9,570,169
TOTAL QATAR
 
 
83,206,921
Russia - 0.0%
 
 
 
PhosAgro PJSC (b)(c)
 
1,400
86
PhosAgro PJSC:
 
 
 
 GDR (Reg. S) (b)(c)
 
586,072
12,020
 sponsored GDR (Reg. S) (b)(c)
 
3,774
77
TOTAL RUSSIA
 
 
12,183
Saudi Arabia - 8.3%
 
 
 
Alinma Bank
 
5,539,992
49,261,114
Almarai Co. Ltd.
 
1,734,597
26,269,159
Etihad Etisalat Co.
 
622,068
8,624,630
Jarir Marketing Co.
 
4,475,236
16,156,000
Luberef
 
389,932
15,761,129
Mouwasat Medical Services Co.
 
680,940
24,400,985
Sabic Agriculture-Nutrients Co.
 
790,629
24,410,718
Saudi Basic Industries Corp.
 
1,992,172
44,883,094
Saudi Electricity Co.
 
6,275,863
31,156,767
Saudi Telecom Co.
 
4,565,297
45,828,249
Yanbu National Petrochemical Co.
 
167,068
1,726,093
TOTAL SAUDI ARABIA
 
 
288,477,938
Taiwan - 23.1%
 
 
 
ASUSTeK Computer, Inc.
 
3,597,000
47,082,711
Chang Hwa Commercial Bank
 
57,054,869
31,846,686
Chicony Electronics Co. Ltd.
 
5,157,000
31,868,212
Chunghwa Telecom Co. Ltd.
 
13,089,000
49,660,682
Compal Electronics, Inc.
 
31,310,000
34,090,948
Far EasTone Telecommunications Co. Ltd.
 
12,432,000
30,781,661
Formosa Petrochemical Corp.
 
11,008,000
24,282,687
Formosa Plastics Corp.
 
10,614,000
22,259,696
Highwealth Construction Corp.
 
12,198,900
16,555,769
Inventec Corp.
 
23,598,000
37,789,022
Lite-On Technology Corp.
 
11,336,000
34,250,581
Lotes Co. Ltd.
 
401,000
17,534,219
Mega Financial Holding Co. Ltd.
 
39,909,687
48,818,846
Pegatron Corp.
 
15,571,000
46,356,763
President Chain Store Corp.
 
4,487,000
37,666,912
Quanta Computer, Inc.
 
2,176,000
17,047,412
Sinopac Financial Holdings Co.
 
55,010,344
36,943,260
Synnex Technology International Corp.
 
9,621,000
23,474,341
Taichung Commercial Bank Co. Ltd.
 
28,272,000
15,322,307
Taiwan Cooperative Financial Holding Co. Ltd.
 
49,633,723
39,816,136
Taiwan Mobile Co. Ltd.
 
13,523,000
43,083,400
The Shanghai Commercial & Savings Bank Ltd.
 
19,179,080
27,266,523
Uni-President Enterprises Corp.
 
21,732,000
50,884,100
WPG Holding Co. Ltd.
 
12,903,000
34,786,800
TOTAL TAIWAN
 
 
799,469,674
Thailand - 2.1%
 
 
 
Advanced Info Service PCL (For. Reg.)
 
7,749,500
41,062,656
Advanced Information Service PCL NVDR
 
303,900
1,610,290
Bangkok Bank PCL (For. Reg.)
 
3,067,300
11,286,069
Bangkok Dusit Medical Services PCL (For. Reg.)
 
26,115,100
20,337,930
TOTAL THAILAND
 
 
74,296,945
United Arab Emirates - 4.3%
 
 
 
Abu Dhabi National Oil Co. for Distribution PJSC
 
21,942,574
20,849,896
Dubai Electricity & Water Authority PJSC
 
73,800,108
47,218,888
Dubai Islamic Bank Pakistan Ltd.
 
21,587,105
32,678,348
Emirates Telecommunications Corp.
 
6,372,971
29,497,266
First Abu Dhabi Bank PJSC
 
1,202,413
4,085,631
Salik Co. PJSC
 
14,978,458
14,110,230
TOTAL UNITED ARAB EMIRATES
 
 
148,440,259
 
TOTAL COMMON STOCKS
 (Cost $3,081,048,170)
 
 
 
3,441,186,308
 
 
 
 
Government Obligations - 0.1%
 
 
Principal
Amount (d)
 
Value ($)
 
United States of America - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (e)
  (Cost $1,794,241)
 
1,800,000
1,794,192
 
 
 
 
Money Market Funds - 1.1%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (f)
 
 (Cost $38,744,480)
 
 
38,736,732
38,744,480
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.4%
 (Cost $3,121,586,891)
 
 
 
3,481,724,980
NET OTHER ASSETS (LIABILITIES) - (0.4)%  
(12,799,112)
NET ASSETS - 100.0%
3,468,925,868
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE MSCI Emerging Markets Index Contracts (United States)
532
Jun 2024
27,717,200
8,641
8,641
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 0.8%
 
 
Legend
 
(a)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $102,351,775 or 3.0% of net assets.
 
(b)
Non-income producing
 
(c)
Level 3 security
 
(d)
Amount is stated in United States dollars unless otherwise noted.
 
(e)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $847,257.
 
(f)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
22,637,413
391,886,530
375,779,445
982,096
(18)
-
38,744,480
0.1%
Fidelity Securities Lending Cash Central Fund 5.39%
4,428,000
572,907
5,000,907
357
-
-
-
0.0%
Total
27,065,413
392,459,437
380,780,352
982,453
(18)
-
38,744,480
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
396,335,059
104,226,590
292,108,469
-
Consumer Discretionary
245,634,308
46,113,169
199,521,139
-
Consumer Staples
324,218,378
41,209,275
283,009,103
-
Energy
147,335,693
-
147,335,693
-
Financials
1,020,974,046
252,900,168
768,073,878
-
Health Care
189,825,473
24,400,985
165,424,488
-
Industrials
75,695,385
43,123,376
32,572,009
-
Information Technology
611,108,004
-
611,108,004
-
Materials
151,777,462
86,781,034
64,984,245
12,183
Real Estate
46,898,761
-
46,898,761
-
Utilities
231,383,739
83,327,650
148,056,089
-
 Government Obligations
1,794,192
-
1,794,192
-
  Money Market Funds
38,744,480
38,744,480
-
-
 Total Investments in Securities:
3,481,724,980
720,826,727
2,760,886,070
12,183
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
8,641
8,641
-
-
  Total Assets
8,641
8,641
-
-
 Total Derivative Instruments:
8,641
8,641
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
8,641
0
Total Equity Risk
8,641
0
Total Value of Derivatives
8,641
0
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity® SAI Emerging Markets Low Volatility Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $3,082,842,411)
$
3,442,980,500
 
 
Fidelity Central Funds (cost $38,744,480)
38,744,480
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $3,121,586,891)
 
 
$
3,481,724,980
Foreign currency held at value (cost $4,761,975)
 
 
4,727,791
Receivable for investments sold
 
 
21,424
Receivable for fund shares sold
 
 
1,403,441
Dividends receivable
 
 
2,962,978
Distributions receivable from Fidelity Central Funds
 
 
90,198
Prepaid expenses
 
 
965
Other receivables
 
 
3
  Total assets
 
 
3,490,931,780
Liabilities
 
 
 
 
Payable for investments purchased
$
2,885
 
 
Payable for fund shares redeemed
2,150,579
 
 
Accrued management fee
467,592
 
 
Payable for daily variation margin on futures contracts
389,100
 
 
Deferred taxes
17,025,834
 
 
Custody fee payable
1,894,723
 
 
Other payables and accrued expenses
75,199
 
 
  Total liabilities
 
 
 
22,005,912
Net Assets  
 
 
$
3,468,925,868
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
3,172,914,025
Total accumulated earnings (loss)
 
 
 
296,011,843
Net Assets
 
 
$
3,468,925,868
Net Asset Value, offering price and redemption price per share ($3,468,925,868 ÷ 317,330,724 shares)
 
 
$
10.93
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
44,471,478
Interest  
 
 
51,039
Income from Fidelity Central Funds (including $357 from security lending)
 
 
982,453
 Income before foreign taxes withheld
 
 
$
45,504,970
Less foreign taxes withheld
 
 
(4,585,150)
 Total income
 
 
 
40,919,820
Expenses
 
 
 
 
Management fee
$
2,650,102
 
 
Custodian fees and expenses
1,629,313
 
 
Independent trustees' fees and expenses
5,040
 
 
Registration fees
95,461
 
 
Audit
40,007
 
 
Legal
2,235
 
 
Interest
152,932
 
 
Miscellaneous
6,272
 
 
 Total expenses before reductions
 
4,581,362
 
 
 Expense reductions
 
(8,911)
 
 
 Total expenses after reductions
 
 
 
4,572,451
Net Investment income (loss)
 
 
 
36,347,369
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $6,889,497)
 
(48,363,415)
 
 
   Fidelity Central Funds
 
(18)
 
 
 Foreign currency transactions
 
(366,387)
 
 
 Futures contracts
 
1,320,376
 
 
Total net realized gain (loss)
 
 
 
(47,409,444)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $3,673,991)  
 
357,722,120
 
 
 Assets and liabilities in foreign currencies
 
47,796
 
 
 Futures contracts
 
639,253
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
358,409,169
Net gain (loss)
 
 
 
310,999,725
Net increase (decrease) in net assets resulting from operations
 
 
$
347,347,094
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
36,347,369
$
103,668,999
Net realized gain (loss)
 
(47,409,444)
 
 
10,092,357
 
Change in net unrealized appreciation (depreciation)
 
358,409,169
 
155,304,597
 
Net increase (decrease) in net assets resulting from operations
 
347,347,094
 
 
269,065,953
 
Distributions to shareholders
 
(98,766,194)
 
 
(53,120,773)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
583,879,578
 
1,377,836,095
  Reinvestment of distributions
 
93,428,323
 
 
51,309,868
 
Cost of shares redeemed
 
(628,911,858)
 
(545,094,970)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
48,396,043
 
 
884,050,993
 
Total increase (decrease) in net assets
 
296,976,943
 
 
1,099,996,173
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
3,171,948,925
 
2,071,952,752
 
End of period
$
3,468,925,868
$
3,171,948,925
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
53,427,580
 
137,366,579
  Issued in reinvestment of distributions
 
8,983,495
 
 
5,225,037
 
Redeemed
 
(57,385,356)
 
(53,285,723)
Net increase (decrease)
 
5,025,719
 
89,305,893
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI Emerging Markets Low Volatility Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019 A  
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
10.16
$
9.29
$
11.44
$
9.41
$
10.11
$
10.00
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) B,C
 
.11
 
.35
 
.33
 
.27
 
.24
 
.22
     Net realized and unrealized gain (loss)
 
.98
 
.70
 
(2.22)
 
1.95
 
(.75)
 
(.11)
  Total from investment operations
 
1.09  
 
1.05  
 
(1.89)  
 
2.22  
 
(.51)
 
.11
  Distributions from net investment income
 
(.32)
 
(.18)
 
(.26)
 
(.19)
 
(.19)
 
-
     Total distributions
 
(.32)
 
(.18)
 
(.26)
 
(.19)
 
(.19)
 
-
  Net asset value, end of period
$
10.93
$
10.16
$
9.29
$
11.44
$
9.41
$
10.11
 Total Return D,E
 
10.87
%
 
 
11.41%
 
(16.88)%
 
23.79%
 
(5.10)%
 
1.10%
 Ratios to Average Net Assets C,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.26% H,I
 
.26%
 
.26%
 
.23%
 
.24%
 
.35% H
    Expenses net of fee waivers, if any
 
.26
% H,I
 
 
.26%
 
.25%
 
.23%
 
.24%
 
.26% H
    Expenses net of all reductions
 
.26% H,I
 
.26%
 
.25%
 
.23%
 
.24%
 
.26% H
    Net investment income (loss)
 
2.06% H,I
 
3.37%
 
3.09%
 
2.44%
 
2.59%
 
2.90% H
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
3,468,926
$
3,171,949
$
2,071,953
$
1,792,423
$
1,259,405
$
644,085
    Portfolio turnover rate J
 
35
% H
 
 
22%
 
21%
 
28%
 
30%
 
75% H
 
AFor the period January 30, 2019 (commencement of operations) through October 31, 2019.
 
BCalculated based on average shares outstanding during the period.
 
CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HAnnualized.
 
IProxy expenses are not annualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
 
Top Holdings (% of Fund's net assets)
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
2.3
 
Toyota Motor Corp.  (Japan, Automobiles)
2.3
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
2.3
 
Tokio Marine Holdings, Inc.  (Japan, Insurance)
2.2
 
Unilever PLC  (United Kingdom, Personal Care Products)
2.1
 
Air Liquide SA  (France, Chemicals)
2.1
 
GSK PLC  (United States of America, Pharmaceuticals)
2.1
 
Sanofi SA  (United States of America, Pharmaceuticals)
2.0
 
RELX PLC (London Stock Exchange)  (United Kingdom, Professional Services)
2.0
 
CSL Ltd.  (United States of America, Biotechnology)
1.8
 
 
21.2
 
 
Market Sectors (% of Fund's net assets)
 
Health Care
17.5
 
Financials
16.4
 
Consumer Staples
13.1
 
Industrials
11.9
 
Communication Services
8.3
 
Utilities
8.3
 
Consumer Discretionary
7.0
 
Real Estate
6.0
 
Materials
5.5
 
Information Technology
3.9
 
 
Asset Allocation (% of Fund's net assets)
Futures - 2.1%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
Fidelity® SAI International Low Volatility Index Fund
Common Stocks - 97.9%
 
 
Shares
Value ($)
 
Australia - 2.4%
 
 
 
ASX Ltd.
 
1,099,131
44,899,657
Insurance Australia Group Ltd.
 
14,256,425
59,064,043
Medibank Private Ltd.
 
16,170,094
37,059,597
The Lottery Corp. Ltd.
 
5,631,743
17,568,177
TOTAL AUSTRALIA
 
 
158,591,474
Belgium - 0.3%
 
 
 
Elia Group SA/NV
 
20,309
1,958,225
Warehouses de Pauw
 
692,952
18,443,588
Warehouses de Pauw rights (a)(b)
 
692,952
828,261
TOTAL BELGIUM
 
 
21,230,074
China - 0.6%
 
 
 
BOC Hong Kong (Holdings) Ltd.
 
13,753,500
42,155,761
China Huishan Dairy Holdings Co. Ltd. (a)(c)
 
5,145,000
7
TOTAL CHINA
 
 
42,155,768
Denmark - 5.0%
 
 
 
Coloplast A/S Series B
 
728,023
87,774,220
Novo Nordisk A/S Series B
 
1,175,734
150,778,845
Novonesis (NOVOZYMES) B Series B
 
615,335
34,214,137
Ringkjoebing Landbobank A/S
 
122,911
20,717,017
Tryg A/S
 
2,054,131
40,706,999
TOTAL DENMARK
 
 
334,191,218
Finland - 0.6%
 
 
 
Elisa Corp. (A Shares)
 
883,505
39,902,535
France - 4.0%
 
 
 
Air Liquide SA
 
709,975
138,855,929
bioMerieux SA
 
257,843
27,517,005
Hermes International SCA
 
677
1,626,335
Orange SA
 
9,220,526
102,627,073
TOTAL FRANCE
 
 
270,626,342
Germany - 5.5%
 
 
 
Beiersdorf AG
 
576,425
86,460,845
Deutsche Borse AG
 
574,623
110,782,712
Hannover Reuck SE
 
342,278
84,890,859
Symrise AG
 
779,518
83,772,492
TOTAL GERMANY
 
 
365,906,908
Hong Kong - 5.7%
 
 
 
CLP Holdings Ltd.
 
9,821,500
77,256,534
Hang Seng Bank Ltd.
 
4,263,700
56,223,623
Hong Kong & China Gas Co. Ltd.
 
63,504,015
48,285,422
Hongkong Land Holdings Ltd.
 
6,090,300
19,459,607
Jardine Matheson Holdings Ltd.
 
1,207,576
46,212,910
Link (REIT)
 
9,535,129
40,856,073
MTR Corp. Ltd.
 
9,115,083
29,956,160
Power Assets Holdings Ltd.
 
8,010,500
45,949,469
Sino Land Ltd.
 
19,650,500
21,010,309
TOTAL HONG KONG
 
 
385,210,107
Ireland - 0.2%
 
 
 
Kerry Group PLC Class A
 
170,101
14,667,768
Israel - 0.5%
 
 
 
Elbit Systems Ltd. (Israel)
 
145,777
29,765,913
Italy - 0.5%
 
 
 
Recordati SpA
 
587,865
31,399,845
Japan - 29.6%
 
 
 
Advance Residence Investment Corp.
 
8,418
18,199,843
Ajinomoto Co., Inc.
 
2,005,600
74,571,162
Alfresa Holdings Corp.
 
1,191,300
17,654,451
Bridgestone Corp.
 
255,100
11,256,801
Canon, Inc.
 
2,148,700
58,155,191
Chubu Electric Power Co., Inc.
 
4,450,300
57,123,891
COMSYS Holdings Corp.
 
694,600
16,258,884
Daiwa House REIT Investment Corp.
 
12,535
21,055,995
FUJIFILM Holdings Corp.
 
5,216,230
110,962,189
Hankyu Hanshin Holdings, Inc.
 
1,492,840
39,139,632
INFRONEER Holdings, Inc.
 
1,387,300
12,285,488
Japan Post Bank Co. Ltd.
 
8,283,500
84,080,102
Japan Post Holdings Co. Ltd.
 
11,209,900
107,652,039
Japan Real Estate Investment Corp.
 
7,865
26,671,333
Kansai Electric Power Co., Inc.
 
4,690,900
70,266,969
KDDI Corp.
 
1,150,900
31,936,090
Keikyu Corp.
 
278,900
2,217,106
Kintetsu Group Holdings Co. Ltd.
 
1,119,500
28,780,769
Kyocera Corp.
 
3,825,400
46,626,438
Kyushu Railway Co.
 
923,200
19,863,499
McDonald's Holdings Co. (Japan) Ltd. (d)
 
499,300
21,963,551
Medipal Holdings Corp.
 
1,231,800
19,318,386
Nagoya Railroad Co. Ltd.
 
1,154,900
15,064,125
Nippon Building Fund, Inc.
 
9,598
36,671,985
Nippon Prologis REIT, Inc.
 
14,338
24,741,768
Nippon Telegraph & Telephone Corp.
 
86,592,600
93,490,775
Oriental Land Co. Ltd.
 
3,050,500
84,168,591
Osaka Gas Co. Ltd.
 
2,446,560
54,401,430
Otsuka Holdings Co. Ltd.
 
402,760
17,220,753
Pan Pacific International Holdings Ltd.
 
3,130,600
73,525,360
Secom Co. Ltd.
 
1,232,470
85,610,450
Seven & i Holdings Co. Ltd.
 
1,793,300
23,171,589
Shimamura Co. Ltd.
 
286,000
14,098,903
Skylark Holdings Co. Ltd.
 
1,335,400
19,030,342
SoftBank Corp.
 
8,566,700
103,328,844
Suntory Beverage & Food Ltd.
 
203,000
6,604,657
The Hachijuni Bank Ltd.
 
2,959,400
19,741,972
Tobu Railway Co. Ltd.
 
1,231,500
24,433,549
Tokio Marine Holdings, Inc.
 
4,578,200
144,700,400
Tokyo Gas Co. Ltd.
 
1,526,700
34,239,710
Tokyu Corp.
 
3,668,400
43,424,904
Toyota Motor Corp.
 
6,672,000
152,178,951
Zensho Holdings Co. Ltd.
 
514,600
19,945,486
TOTAL JAPAN
 
 
1,985,834,353
Netherlands - 6.0%
 
 
 
ASML Holding NV (Netherlands)
 
43,260
38,443,321
EXOR NV
 
598,345
65,579,474
Koninklijke Ahold Delhaize NV
 
3,981,747
120,862,649
Koninklijke KPN NV
 
17,818,567
64,755,018
Wolters Kluwer NV
 
771,247
115,847,778
TOTAL NETHERLANDS
 
 
405,488,240
Norway - 0.8%
 
 
 
Gjensidige Forsikring ASA
 
1,077,324
17,330,675
Orkla ASA
 
3,627,922
24,755,501
Telenor ASA
 
1,143,460
13,165,462
TOTAL NORWAY
 
 
55,251,638
Singapore - 2.2%
 
 
 
CapitaLand Ascendas REIT
 
20,872,699
39,537,546
CapitaLand Integrated Commercial Trust
 
18,710,400
26,671,595
Mapletree Industrial (REIT)
 
12,142,310
20,105,676
Singapore Exchange Ltd.
 
4,840,800
33,021,639
Singapore Technologies Engineering Ltd.
 
8,982,200
26,385,074
TOTAL SINGAPORE
 
 
145,721,530
Spain - 0.6%
 
 
 
Redeia Corp. SA
 
2,379,972
39,749,531
Sweden - 0.7%
 
 
 
Axfood AB
 
614,807
15,921,919
Telia Co. AB
 
13,619,129
31,216,580
TOTAL SWEDEN
 
 
47,138,499
Switzerland - 10.0%
 
 
 
Allreal Holding AG
 
88,415
14,292,596
Banque Cantonale Vaudoise
 
165,993
17,371,255
BKW AG
 
72,586
10,762,548
Galenica AG (e)
 
292,751
22,372,323
Givaudan SA
 
27,111
116,377,488
Lindt & Spruengli AG
 
811
93,870,438
Novartis AG
 
1,248,375
121,164,224
PSP Swiss Property AG
 
262,525
32,528,254
SGS SA (Reg.)
 
658,833
58,096,277
Swiss Prime Site AG
 
437,911
40,539,816
Swisscom AG
 
145,340
79,606,951
Zurich Insurance Group Ltd.
 
138,967
67,151,636
TOTAL SWITZERLAND
 
 
674,133,806
United Kingdom - 13.5%
 
 
 
Admiral Group PLC
 
1,546,381
52,731,932
AstraZeneca PLC (United Kingdom)
 
1,015,625
153,612,217
Bunzl PLC
 
1,983,865
76,202,570
Diageo PLC
 
2,600,176
89,861,246
National Grid PLC
 
9,005,011
118,120,191
Pearson PLC
 
4,101,949
49,772,397
Reckitt Benckiser Group PLC
 
1,684,262
94,162,047
RELX PLC (London Stock Exchange)
 
3,173,631
130,394,599
Unilever PLC
 
2,746,752
142,091,696
TOTAL UNITED KINGDOM
 
 
906,948,895
United States of America - 9.2%
 
 
 
CSL Ltd.
 
691,555
122,872,819
GSK PLC
 
6,611,892
137,176,392
Nestle SA (Reg. S)
 
1,011,519
101,556,708
Roche Holding AG (participation certificate)
 
495,431
118,712,313
Sanofi SA
 
1,385,650
136,892,541
TOTAL UNITED STATES OF AMERICA
 
 
617,210,773
 
TOTAL COMMON STOCKS
 (Cost $6,081,411,257)
 
 
 
6,571,125,217
 
 
 
 
Government Obligations - 0.0%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.0%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $2,890,722)
 
2,900,000
2,890,643
 
 
 
 
Money Market Funds - 1.4%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
68,917,069
68,930,853
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
23,235,436
23,237,760
 
TOTAL MONEY MARKET FUNDS
 (Cost $92,170,457)
 
 
92,168,613
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.3%
 (Cost $6,176,472,436)
 
 
 
6,666,184,473
NET OTHER ASSETS (LIABILITIES) - 0.7%  
46,867,232
NET ASSETS - 100.0%
6,713,051,705
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
1,251
Jun 2024
141,832,125
(2,922,745)
(2,922,745)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 2.1%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(c)
Level 3 security
 
(d)
Security or a portion of the security is on loan at period end.
 
(e)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $22,372,323 or 0.3% of net assets.
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,890,643.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
-
897,006,028
828,073,030
1,568,969
(301)
(1,844)
68,930,853
0.1%
Fidelity Securities Lending Cash Central Fund 5.39%
45,398,400
228,936,240
251,096,880
414,985
-
-
23,237,760
0.1%
Total
45,398,400
1,125,942,268
1,079,169,910
1,983,954
(301)
(1,844)
92,168,613
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
560,029,328
163,891,528
396,137,800
-
Consumer Discretionary
465,134,894
1,626,335
463,508,559
-
Consumer Staples
888,558,232
235,676,471
652,881,754
7
Financials
1,105,861,392
366,479,847
739,381,545
-
Health Care
1,164,466,334
81,289,173
1,083,177,161
-
Industrials
799,939,687
279,912,538
520,027,149
-
Information Technology
254,187,139
38,443,321
215,743,818
-
Materials
373,220,046
234,364,117
138,855,929
-
Real Estate
401,614,245
106,632,515
294,981,730
-
Utilities
558,113,920
52,470,304
505,643,616
-
 Government Obligations
2,890,643
-
2,890,643
-
  Money Market Funds
92,168,613
92,168,613
-
-
 Total Investments in Securities:
6,666,184,473
1,652,954,762
5,013,229,704
7
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(2,922,745)
(2,922,745)
-
-
  Total Liabilities
(2,922,745)
(2,922,745)
-
-
 Total Derivative Instruments:
(2,922,745)
(2,922,745)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(2,922,745)
Total Equity Risk
0
(2,922,745)
Total Value of Derivatives
0
(2,922,745)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity® SAI International Low Volatility Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $22,110,205) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $6,084,301,979)
$
6,574,015,860
 
 
Fidelity Central Funds (cost $92,170,457)
92,168,613
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $6,176,472,436)
 
 
$
6,666,184,473
Segregated cash with brokers for derivative instruments
 
 
1,580,870
Foreign currency held at value (cost $12,031,409)
 
 
11,916,751
Receivable for fund shares sold
 
 
5,067,379
Dividends receivable
 
 
30,611,157
Reclaims receivable
 
 
28,263,423
Distributions receivable from Fidelity Central Funds
 
 
488,854
Prepaid expenses
 
 
1,869
  Total assets
 
 
6,744,114,776
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
828,261
 
 
Payable for fund shares redeemed
3,854,186
 
 
Accrued management fee
850,601
 
 
Payable for daily variation margin on futures contracts
1,925,327
 
 
Other payables and accrued expenses
366,936
 
 
Collateral on securities loaned
23,237,760
 
 
  Total liabilities
 
 
 
31,063,071
Net Assets  
 
 
$
6,713,051,705
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
6,448,383,428
Total accumulated earnings (loss)
 
 
 
264,668,277
Net Assets
 
 
$
6,713,051,705
Net Asset Value, offering price and redemption price per share ($6,713,051,705 ÷ 618,022,889 shares)
 
 
$
10.86
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
115,856,134
Foreign Tax Reclaims
 
 
9,669,629
Interest  
 
 
104,584
Income from Fidelity Central Funds (including $414,985 from security lending)
 
 
1,983,954
 Income before foreign taxes withheld
 
 
$
127,614,301
Less foreign taxes withheld
 
 
(17,160,424)
 Total income
 
 
 
110,453,877
Expenses
 
 
 
 
Management fee
$
5,130,590
 
 
Custodian fees and expenses
261,510
 
 
Independent trustees' fees and expenses
9,691
 
 
Registration fees
98,147
 
 
Audit
26,935
 
 
Legal
4,647
 
 
Interest
142,693
 
 
Miscellaneous
12,277
 
 
 Total expenses before reductions
 
5,686,490
 
 
 Expense reductions
 
(38,530)
 
 
 Total expenses after reductions
 
 
 
5,647,960
Net Investment income (loss)
 
 
 
104,805,917
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(34,781,359)
 
 
   Fidelity Central Funds
 
(301)
 
 
 Foreign currency transactions
 
(323,790)
 
 
 Futures contracts
 
13,317,523
 
 
Total net realized gain (loss)
 
 
 
(21,787,927)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
529,045,752
 
 
   Fidelity Central Funds
 
(1,844)
 
 
 Assets and liabilities in foreign currencies
 
(1,089,237)
 
 
 Futures contracts
 
(995,492)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
526,959,179
Net gain (loss)
 
 
 
505,171,252
Net increase (decrease) in net assets resulting from operations
 
 
$
609,977,169
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
104,805,917
$
151,468,851
Net realized gain (loss)
 
(21,787,927)
 
 
(159,975,514)
 
Change in net unrealized appreciation (depreciation)
 
526,959,179
 
649,473,779
 
Net increase (decrease) in net assets resulting from operations
 
609,977,169
 
 
640,967,116
 
Distributions to shareholders
 
(154,634,991)
 
 
(105,861,928)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,241,626,918
 
1,822,038,768
  Reinvestment of distributions
 
145,342,059
 
 
98,129,051
 
Cost of shares redeemed
 
(1,174,953,312)
 
(1,904,398,706)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
212,015,665
 
 
15,769,113
 
Total increase (decrease) in net assets
 
667,357,843
 
 
550,874,301
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
6,045,693,862
 
5,494,819,561
 
End of period
$
6,713,051,705
$
6,045,693,862
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
114,028,575
 
175,043,162
  Issued in reinvestment of distributions
 
13,685,693
 
 
9,952,236
 
Redeemed
 
(107,286,437)
 
(189,480,961)
Net increase (decrease)
 
20,427,831
 
(4,485,563)
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI International Low Volatility Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
10.12
$
9.13
$
11.67
$
9.64
$
11.54
$
10.49
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.17
 
.27
 
.26
 
.27
 
.24
 
.28
     Net realized and unrealized gain (loss)
 
.82
 
.92
 
(2.52)
 
1.90
 
(1.46)
 
1.04
  Total from investment operations
 
.99  
 
1.19  
 
(2.26)  
 
2.17  
 
(1.22)
 
1.32
  Distributions from net investment income
 
(.25)
 
(.20)
 
(.28)
 
(.14)
 
(.22)
 
(.24)
  Distributions from net realized gain
 
-
 
-
 
-
 
-
 
(.46)
 
(.03)
     Total distributions
 
(.25)
 
(.20)
 
(.28)
 
(.14)
 
(.68)
 
(.27)
  Net asset value, end of period
$
10.86
$
10.12
$
9.13
$
11.67
$
9.64
$
11.54
 Total Return C,D
 
9.87
%
 
 
13.07%
 
(19.80)%
 
22.69%
 
(11.31)%
 
12.89%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.17% G,H
 
.17%
 
.17%
 
.17%
 
.18%
 
.25%
    Expenses net of fee waivers, if any
 
.17
% G,H
 
 
.17%
 
.17%
 
.17%
 
.18%
 
.20%
    Expenses net of all reductions
 
.17% G,H
 
.17%
 
.17%
 
.17%
 
.18%
 
.20%
    Net investment income (loss)
 
3.07% G,H
 
2.63%
 
2.46%
 
2.37%
 
2.39%
 
2.59%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
6,713,052
$
6,045,694
$
5,494,820
$
5,938,738
$
4,603,961
$
2,548,056
    Portfolio turnover rate I
 
36
% G
 
 
37%
 
26%
 
26%
 
20%
 
93%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAnnualized.
 
HProxy expenses are not annualized.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
 
Top Holdings (% of Fund's net assets)
 
Microsoft Corp.
8.3
 
Eli Lilly & Co.
3.7
 
Apple, Inc.
3.6
 
Procter & Gamble Co.
2.9
 
Visa, Inc. Class A
2.9
 
Merck & Co., Inc.
2.8
 
UnitedHealth Group, Inc.
2.7
 
The Home Depot, Inc.
2.6
 
Johnson & Johnson
2.6
 
Linde PLC
2.3
 
 
34.4
 
 
Market Sectors (% of Fund's net assets)
 
Information Technology
26.1
 
Health Care
14.4
 
Financials
11.7
 
Industrials
9.9
 
Consumer Discretionary
8.6
 
Consumer Staples
8.1
 
Communication Services
6.4
 
Utilities
4.2
 
Materials
4.2
 
Real Estate
4.2
 
Energy
2.0
 
 
Asset Allocation (% of Fund's net assets)
Futures - 0.3%
 
Fidelity® SAI U.S. Low Volatility Index Fund
Common Stocks - 99.8%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 6.4%
 
 
 
Diversified Telecommunication Services - 3.1%
 
 
 
AT&T, Inc.
 
10,298,635
173,943,945
Verizon Communications, Inc.
 
6,055,439
239,129,286
 
 
 
413,073,231
Entertainment - 0.3%
 
 
 
Electronic Arts, Inc.
 
352,542
44,709,376
Interactive Media & Services - 1.8%
 
 
 
Alphabet, Inc. Class A
 
1,412,418
229,913,402
Media - 0.3%
 
 
 
Fox Corp. Class A
 
303,613
9,415,039
Omnicom Group, Inc.
 
285,097
26,468,405
 
 
 
35,883,444
Wireless Telecommunication Services - 0.9%
 
 
 
T-Mobile U.S., Inc.
 
732,928
120,324,790
TOTAL COMMUNICATION SERVICES
 
 
843,904,243
CONSUMER DISCRETIONARY - 8.6%
 
 
 
Automobile Components - 0.1%
 
 
 
Gentex Corp.
 
335,969
11,523,737
Broadline Retail - 1.3%
 
 
 
Amazon.com, Inc. (a)
 
966,538
169,144,150
Diversified Consumer Services - 0.1%
 
 
 
Service Corp. International (b)
 
212,807
15,260,390
Hotels, Restaurants & Leisure - 2.5%
 
 
 
Domino's Pizza, Inc.
 
50,241
26,591,054
McDonald's Corp.
 
1,044,757
285,260,451
Yum China Holdings, Inc.
 
595,812
21,753,096
 
 
 
333,604,601
Household Durables - 0.3%
 
 
 
Garmin Ltd.
 
220,469
31,851,156
Specialty Retail - 4.3%
 
 
 
AutoZone, Inc. (a)
 
25,399
75,089,604
O'Reilly Automotive, Inc. (a)
 
85,215
86,344,951
The Home Depot, Inc.
 
1,019,391
340,700,860
TJX Companies, Inc.
 
248,456
23,377,225
Tractor Supply Co.
 
155,724
42,525,110
 
 
 
568,037,750
TOTAL CONSUMER DISCRETIONARY
 
 
1,129,421,784
CONSUMER STAPLES - 8.1%
 
 
 
Beverages - 2.0%
 
 
 
PepsiCo, Inc.
 
585,865
103,059,512
The Coca-Cola Co.
 
2,487,197
153,634,159
 
 
 
256,693,671
Consumer Staples Distribution & Retail - 0.3%
 
 
 
Dollar General Corp.
 
316,125
44,001,439
Food Products - 1.3%
 
 
 
Campbell Soup Co.
 
282,931
12,932,776
Flowers Foods, Inc.
 
276,722
6,901,447
General Mills, Inc.
 
837,254
58,992,917
Hormel Foods Corp.
 
417,180
14,834,921
Kellanova
 
379,882
21,979,973
The Hershey Co.
 
215,889
41,865,195
The J.M. Smucker Co.
 
152,491
17,513,591
 
 
 
175,020,820
Household Products - 4.5%
 
 
 
Church & Dwight Co., Inc.
 
354,880
38,288,003
Colgate-Palmolive Co.
 
1,185,956
109,013,076
Kimberly-Clark Corp.
 
486,758
66,457,070
Procter & Gamble Co.
 
2,333,175
380,774,160
 
 
 
594,532,309
TOTAL CONSUMER STAPLES
 
 
1,070,248,239
ENERGY - 2.0%
 
 
 
Oil, Gas & Consumable Fuels - 2.0%
 
 
 
Chesapeake Energy Corp.
 
151,007
13,572,509
Chevron Corp.
 
543,831
87,703,625
Coterra Energy, Inc.
 
1,083,431
29,642,672
DT Midstream, Inc. (b)
 
139,574
8,681,503
Kinder Morgan, Inc.
 
2,785,396
50,917,039
The Williams Companies, Inc.
 
1,752,202
67,214,469
 
 
 
257,731,817
FINANCIALS - 11.7%
 
 
 
Banks - 0.5%
 
 
 
Commerce Bancshares, Inc.
 
171,054
9,353,233
First Financial Bankshares, Inc. (b)
 
184,998
5,468,541
Glacier Bancorp, Inc. (b)
 
159,706
5,778,163
M&T Bank Corp.
 
239,043
34,515,419
Prosperity Bancshares, Inc.
 
134,984
8,364,958
 
 
 
63,480,314
Capital Markets - 1.6%
 
 
 
Cboe Global Markets, Inc.
 
152,039
27,541,865
CME Group, Inc.
 
518,517
108,701,904
FactSet Research Systems, Inc.
 
54,717
22,810,970
Houlihan Lokey
 
74,343
9,477,989
NASDAQ, Inc.
 
490,314
29,345,293
SEI Investments Co.
 
144,046
9,499,834
 
 
 
207,377,855
Consumer Finance - 0.0%
 
 
 
FirstCash Holdings, Inc.
 
53,277
6,019,235
Financial Services - 3.0%
 
 
 
Jack Henry & Associates, Inc.
 
104,899
17,066,018
The Western Union Co.
 
524,810
7,053,446
Visa, Inc. Class A
 
1,409,626
378,639,640
 
 
 
402,759,104
Insurance - 6.6%
 
 
 
American Financial Group, Inc.
 
94,123
12,024,213
Arch Capital Group Ltd. (a)
 
537,504
50,278,124
Arthur J. Gallagher & Co.
 
310,975
72,982,723
Assurant, Inc.
 
75,750
13,210,800
Brown & Brown, Inc.
 
340,238
27,743,007
Chubb Ltd.
 
587,646
146,112,301
Erie Indemnity Co. Class A (b)
 
35,926
13,747,443
Globe Life, Inc.
 
123,365
9,396,712
Hanover Insurance Group, Inc.
 
51,510
6,687,028
Hartford Financial Services Group, Inc.
 
433,218
41,974,492
Marsh & McLennan Companies, Inc.
 
710,203
141,635,784
Progressive Corp.
 
842,672
175,486,444
RLI Corp.
 
57,832
8,174,553
Ryan Specialty Group Holdings, Inc. (b)
 
146,539
7,230,234
Selective Insurance Group, Inc.
 
87,269
8,870,894
The Travelers Companies, Inc.
 
328,978
69,795,972
W.R. Berkley Corp.
 
293,429
22,585,230
Willis Towers Watson PLC
 
148,732
37,352,554
 
 
 
865,288,508
TOTAL FINANCIALS
 
 
1,544,925,016
HEALTH CARE - 14.4%
 
 
 
Biotechnology - 1.2%
 
 
 
Amgen, Inc.
 
575,591
157,677,399
Health Care Equipment & Supplies - 1.3%
 
 
 
Becton, Dickinson & Co.
 
417,863
98,030,660
Medtronic PLC
 
924,357
74,170,406
 
 
 
172,201,066
Health Care Providers & Services - 2.8%
 
 
 
Chemed Corp.
 
21,695
12,322,760
UnitedHealth Group, Inc.
 
732,566
354,342,174
 
 
 
366,664,934
Pharmaceuticals - 9.1%
 
 
 
Eli Lilly & Co.
 
628,422
490,860,424
Johnson & Johnson
 
2,356,258
340,691,344
Merck & Co., Inc.
 
2,813,531
363,564,476
 
 
 
1,195,116,244
TOTAL HEALTH CARE
 
 
1,891,659,643
INDUSTRIALS - 9.9%
 
 
 
Aerospace & Defense - 3.2%
 
 
 
BWX Technologies, Inc.
 
131,744
12,617,123
General Dynamics Corp.
 
326,249
93,662,825
Huntington Ingalls Industries, Inc.
 
57,216
15,844,827
L3Harris Technologies, Inc.
 
273,007
58,437,148
Lockheed Martin Corp.
 
318,044
147,868,197
Northrop Grumman Corp.
 
204,165
99,026,150
 
 
 
427,456,270
Air Freight & Logistics - 0.1%
 
 
 
C.H. Robinson Worldwide, Inc.
 
168,020
11,929,420
Building Products - 0.2%
 
 
 
Lennox International, Inc.
 
46,071
21,350,223
Commercial Services & Supplies - 1.4%
 
 
 
Republic Services, Inc.
 
294,575
56,470,028
Rollins, Inc.
 
404,371
18,018,772
Waste Management, Inc.
 
527,930
109,819,999
 
 
 
184,308,799
Construction & Engineering - 0.0%
 
 
 
MDU Resources Group, Inc.
 
293,313
7,244,831
Ground Transportation - 0.1%
 
 
 
Landstar System, Inc.
 
51,775
9,030,078
Machinery - 1.6%
 
 
 
Graco, Inc.
 
243,116
19,497,903
IDEX Corp.
 
108,929
24,014,487
Nordson Corp.
 
78,015
20,142,693
Otis Worldwide Corp.
 
589,482
53,760,758
PACCAR, Inc.
 
753,420
79,945,396
Toro Co.
 
149,573
13,101,099
 
 
 
210,462,336
Professional Services - 3.1%
 
 
 
Automatic Data Processing, Inc.
 
592,429
143,302,651
Booz Allen Hamilton Holding Corp. Class A
 
187,796
27,731,835
Broadridge Financial Solutions, Inc.
 
169,455
32,774,292
CACI International, Inc. Class A (a)
 
32,088
12,906,756
Exponent, Inc.
 
72,914
6,701,526
FTI Consulting, Inc. (a)(b)
 
51,147
10,936,763
Jacobs Solutions, Inc.
 
181,368
26,031,749
Leidos Holdings, Inc.
 
198,059
27,771,833
Maximus, Inc.
 
87,551
7,028,594
Paychex, Inc.
 
463,072
55,017,584
Science Applications International Corp.
 
76,246
9,812,860
Verisk Analytics, Inc.
 
208,892
45,530,100
 
 
 
405,546,543
Trading Companies & Distributors - 0.2%
 
 
 
Fastenal Co.
 
294,157
19,985,027
MSC Industrial Direct Co., Inc. Class A (b)
 
66,783
6,093,281
 
 
 
26,078,308
TOTAL INDUSTRIALS
 
 
1,303,406,808
INFORMATION TECHNOLOGY - 26.1%
 
 
 
Communications Equipment - 2.8%
 
 
 
Cisco Systems, Inc.
 
5,834,256
274,093,347
Juniper Networks, Inc.
 
459,286
15,992,339
Motorola Solutions, Inc.
 
239,054
81,075,164
 
 
 
371,160,850
Electronic Equipment, Instruments & Components - 0.6%
 
 
 
Badger Meter, Inc.
 
42,270
7,732,028
CDW Corp.
 
192,951
46,667,129
Teledyne Technologies, Inc. (a)
 
67,964
25,926,907
 
 
 
80,326,064
IT Services - 3.9%
 
 
 
Accenture PLC Class A
 
644,050
193,801,086
Akamai Technologies, Inc. (a)
 
217,253
21,927,345
Amdocs Ltd.
 
171,441
14,399,330
Cognizant Technology Solutions Corp. Class A
 
722,217
47,435,213
IBM Corp.
 
1,315,224
218,590,229
VeriSign, Inc. (a)
 
127,943
21,683,780
 
 
 
517,836,983
Semiconductors & Semiconductor Equipment - 3.7%
 
 
 
NVIDIA Corp.
 
293,753
253,808,467
Texas Instruments, Inc.
 
1,308,145
230,782,941
 
 
 
484,591,408
Software - 11.5%
 
 
 
Aspen Technology, Inc. (a)(b)
 
40,370
7,947,642
Check Point Software Technologies Ltd. (a)(b)
 
133,126
19,891,687
Dolby Laboratories, Inc. Class A
 
85,781
6,661,752
Microsoft Corp.
 
2,793,167
1,087,463,707
Oracle Corp.
 
2,288,506
260,317,558
Qualys, Inc. (a)
 
52,984
8,684,607
Roper Technologies, Inc.
 
153,863
78,694,770
SPS Commerce, Inc. (a)
 
52,858
9,190,420
Tyler Technologies, Inc. (a)
 
60,608
27,973,622
 
 
 
1,506,825,765
Technology Hardware, Storage & Peripherals - 3.6%
 
 
 
Apple, Inc.
 
2,802,330
477,320,869
TOTAL INFORMATION TECHNOLOGY
 
 
3,438,061,939
MATERIALS - 4.2%
 
 
 
Chemicals - 3.0%
 
 
 
Air Products & Chemicals, Inc.
 
319,976
75,623,128
Balchem Corp. (b)
 
46,439
6,565,546
Linde PLC
 
698,418
307,974,401
NewMarket Corp. (b)
 
9,945
5,240,219
 
 
 
395,403,294
Construction Materials - 0.7%
 
 
 
Martin Marietta Materials, Inc.
 
78,643
46,168,946
Vulcan Materials Co.
 
191,386
49,306,775
 
 
 
95,475,721
Containers & Packaging - 0.5%
 
 
 
Amcor PLC
 
2,081,821
18,611,480
Aptargroup, Inc.
 
94,749
13,679,861
Packaging Corp. of America
 
129,091
22,330,161
Sonoco Products Co.
 
141,092
7,908,207
 
 
 
62,529,709
TOTAL MATERIALS
 
 
553,408,724
REAL ESTATE - 4.2%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 3.8%
 
 
 
Agree Realty Corp.
 
144,785
8,284,598
American Homes 4 Rent Class A (b)
 
458,109
16,400,302
American Tower Corp.
 
671,448
115,193,619
Crown Castle, Inc.
 
625,118
58,623,566
CubeSmart
 
323,882
13,097,788
Digital Realty Trust, Inc.
 
278,881
38,703,105
Equinix, Inc.
 
135,226
96,160,561
Equity Lifestyle Properties, Inc.
 
268,474
16,186,297
Essex Property Trust, Inc.
 
12,794
3,150,523
Extra Space Storage, Inc.
 
304,317
40,863,687
Mid-America Apartment Communities, Inc.
 
36,215
4,707,950
Public Storage
 
227,941
59,139,292
Realty Income Corp.
 
207,746
11,122,721
Sun Communities, Inc.
 
179,246
19,953,665
 
 
 
501,587,674
Real Estate Management & Development - 0.4%
 
 
 
CoStar Group, Inc. (a)
 
491,867
45,020,587
TOTAL REAL ESTATE
 
 
546,608,261
UTILITIES - 4.2%
 
 
 
Electric Utilities - 2.9%
 
 
 
Alliant Energy Corp.
 
367,551
18,304,040
American Electric Power Co., Inc.
 
757,453
65,163,682
Duke Energy Corp.
 
1,110,106
109,079,016
Evergy, Inc.
 
330,882
17,354,761
Eversource Energy
 
503,157
30,501,377
Exelon Corp.
 
1,395,955
52,459,989
IDACORP, Inc.
 
72,904
6,909,841
Pinnacle West Capital Corp.
 
163,334
12,029,549
Southern Co.
 
433,335
31,850,123
Xcel Energy, Inc.
 
794,816
42,705,464
 
 
 
386,357,842
Gas Utilities - 0.2%
 
 
 
Atmos Energy Corp.
 
213,888
25,217,395
Multi-Utilities - 1.1%
 
 
 
Ameren Corp.
 
378,737
27,977,302
CMS Energy Corp.
 
420,247
25,471,171
Consolidated Edison, Inc.
 
497,243
46,939,739
DTE Energy Co.
 
30,229
3,334,863
WEC Energy Group, Inc.
 
454,341
37,546,740
 
 
 
141,269,815
Water Utilities - 0.0%
 
 
 
American Water Works Co., Inc.
 
27,729
3,391,811
TOTAL UTILITIES
 
 
556,236,863
 
TOTAL COMMON STOCKS
 (Cost $10,685,606,986)
 
 
 
13,135,613,337
 
 
 
 
U.S. Treasury Obligations - 0.0%
 
 
Principal
Amount (c)
 
Value ($)
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (d)
 
 (Cost $697,760)
 
 
700,000
697,741
 
 
 
 
Money Market Funds - 0.4%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (e)
 
38,389,879
38,397,557
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f)
 
15,338,196
15,339,730
 
TOTAL MONEY MARKET FUNDS
 (Cost $53,737,287)
 
 
53,737,287
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.2%
 (Cost $10,740,042,033)
 
 
 
13,190,048,365
NET OTHER ASSETS (LIABILITIES) - (0.2)%  
(21,204,108)
NET ASSETS - 100.0%
13,168,844,257
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
CME E-mini S&P 500 Index Contracts (United States)
81
Jun 2024
20,521,350
(27,722)
(27,722)
CME E-mini S&P MidCap 400 Index Contracts (United States)
23
Jun 2024
6,617,560
18,191
18,191
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(9,531)
The notional amount of futures purchased as a percentage of Net Assets is 0.3%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Amount is stated in United States dollars unless otherwise noted.
 
(d)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $697,741.
 
(e)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(f)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
-
1,576,891,434
1,538,494,453
970,091
576
-
38,397,557
0.1%
Fidelity Securities Lending Cash Central Fund 5.39%
51,820,121
133,306,354
169,786,745
12,902
-
-
15,339,730
0.1%
Total
51,820,121
1,710,197,788
1,708,281,198
982,993
576
-
53,737,287
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
843,904,243
843,904,243
-
-
Consumer Discretionary
1,129,421,784
1,129,421,784
-
-
Consumer Staples
1,070,248,239
1,070,248,239
-
-
Energy
257,731,817
257,731,817
-
-
Financials
1,544,925,016
1,544,925,016
-
-
Health Care
1,891,659,643
1,891,659,643
-
-
Industrials
1,303,406,808
1,303,406,808
-
-
Information Technology
3,438,061,939
3,438,061,939
-
-
Materials
553,408,724
553,408,724
-
-
Real Estate
546,608,261
546,608,261
-
-
Utilities
556,236,863
556,236,863
-
-
 U.S. Government and Government Agency Obligations
697,741
-
697,741
-
  Money Market Funds
53,737,287
53,737,287
-
-
 Total Investments in Securities:
13,190,048,365
13,189,350,624
697,741
-
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
18,191
18,191
-
-
  Total Assets
18,191
18,191
-
-
 Liabilities
 
 
 
 
Futures Contracts
(27,722)
(27,722)
-
-
  Total Liabilities
(27,722)
(27,722)
-
-
 Total Derivative Instruments:
(9,531)
(9,531)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
18,191
(27,722)
Total Equity Risk
18,191
(27,722)
Total Value of Derivatives
18,191
(27,722)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity® SAI U.S. Low Volatility Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $14,856,016) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $10,686,304,746)
$
13,136,311,078
 
 
Fidelity Central Funds (cost $53,737,287)
53,737,287
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $10,740,042,033)
 
 
$
13,190,048,365
Segregated cash with brokers for derivative instruments
 
 
790,857
Receivable for fund shares sold
 
 
41,374,686
Dividends receivable
 
 
13,766,530
Distributions receivable from Fidelity Central Funds
 
 
177,829
Prepaid expenses
 
 
2,643
  Total assets
 
 
13,246,160,910
Liabilities
 
 
 
 
Payable for investments purchased
$
54,710,004
 
 
Payable for fund shares redeemed
5,182,764
 
 
Accrued management fee
1,073,651
 
 
Payable for daily variation margin on futures contracts
516,463
 
 
Other payables and accrued expenses
497,970
 
 
Collateral on securities loaned
15,335,801
 
 
  Total liabilities
 
 
 
77,316,653
Net Assets  
 
 
$
13,168,844,257
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
10,680,130,827
Total accumulated earnings (loss)
 
 
 
2,488,713,430
Net Assets
 
 
$
13,168,844,257
Net Asset Value, offering price and redemption price per share ($13,168,844,257 ÷ 679,055,499 shares)
 
 
$
19.39
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
109,610,193
Interest  
 
 
31,009
Income from Fidelity Central Funds (including $12,902 from security lending)
 
 
982,993
 Total income
 
 
 
110,624,195
Expenses
 
 
 
 
Management fee
$
5,346,520
 
 
Custodian fees and expenses
73,355
 
 
Independent trustees' fees and expenses
14,575
 
 
Registration fees
460,751
 
 
Audit
23,163
 
 
Legal
7,094
 
 
Interest
241,916
 
 
Miscellaneous
17,818
 
 
 Total expenses before reductions
 
6,185,192
 
 
 Expense reductions
 
(359)
 
 
 Total expenses after reductions
 
 
 
6,184,833
Net Investment income (loss)
 
 
 
104,439,362
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
51,213,945
 
 
   Fidelity Central Funds
 
576
 
 
 Futures contracts
 
2,540,426
 
 
Total net realized gain (loss)
 
 
 
53,754,947
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
1,005,987,801
 
 
 Futures contracts
 
(17,317)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
1,005,970,484
Net gain (loss)
 
 
 
1,059,725,431
Net increase (decrease) in net assets resulting from operations
 
 
$
1,164,164,793
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
104,439,362
$
166,041,806
Net realized gain (loss)
 
53,754,947
 
 
(24,846,002)
 
Change in net unrealized appreciation (depreciation)
 
1,005,970,484
 
312,163,380
 
Net increase (decrease) in net assets resulting from operations
 
1,164,164,793
 
 
453,359,184
 
Distributions to shareholders
 
(162,945,805)
 
 
(303,046,026)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
4,150,043,084
 
5,108,381,896
  Reinvestment of distributions
 
159,625,369
 
 
300,330,158
 
Cost of shares redeemed
 
(1,716,803,644)
 
(3,696,540,350)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
2,592,864,809
 
 
1,712,171,704
 
Total increase (decrease) in net assets
 
3,594,083,797
 
 
1,862,484,862
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
9,574,760,460
 
7,712,275,598
 
End of period
$
13,168,844,257
$
9,574,760,460
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
211,423,462
 
294,395,239
  Issued in reinvestment of distributions
 
8,689,459
 
 
17,887,442
 
Redeemed
 
(91,672,435)
 
(215,136,108)
Net increase (decrease)
 
128,440,486
 
97,146,573
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI U.S. Low Volatility Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
17.39
$
17.01
$
19.26
$
14.87
$
15.12
$
13.18
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.19
 
.35
 
.33
 
.31
 
.30
 
.29
     Net realized and unrealized gain (loss)
 
2.13
 
.71
 
(1.90)
 
4.30
 
.03
 
1.98
  Total from investment operations
 
2.32  
 
1.06  
 
(1.57)  
 
4.61  
 
.33
 
2.27
  Distributions from net investment income
 
(.32)
 
(.35)
 
(.34)
 
(.22)
 
(.24)
 
(.20)
  Distributions from net realized gain
 
-
 
(.34)
 
(.35)
 
-
 
(.34)
 
(.13)
     Total distributions
 
(.32)
 
(.68) C
 
(.68) C
 
(.22)
 
(.58)
 
(.33)
  Net asset value, end of period
$
19.39
$
17.39
$
17.01
$
19.26
$
14.87
$
15.12
 Total Return D,E
 
13.47
%
 
 
6.39%
 
(8.39)%
 
31.25%
 
2.16%
 
17.62%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.12% H,I
 
.11%
 
.11%
 
.11%
 
.12%
 
.19%
    Expenses net of fee waivers, if any
 
.12
% H,I
 
 
.11%
 
.11%
 
.11%
 
.12%
 
.15%
    Expenses net of all reductions
 
.12% H,I
 
.11%
 
.11%
 
.11%
 
.12%
 
.15%
    Net investment income (loss)
 
1.95% H,I
 
2.01%
 
1.85%
 
1.76%
 
2.06%
 
2.05%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
13,168,844
$
9,574,760
$
7,712,276
$
7,816,045
$
5,243,996
$
4,120,541
    Portfolio turnover rate J
 
38
% I
 
 
50%
 
41%
 
44%
 
49%
 
72%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal distributions per share do not sum due to rounding.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HProxy expenses are not annualized.
 
IAnnualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
For the period ended April 30, 2024
 
1.Organization.
Fidelity SAI Emerging Markets Low Volatility Index Fund, Fidelity SAI International Low Volatility Index Fund, and Fidelity SAI U.S. Low Volatility Index Fund (the Funds) are funds of Fidelity Salem Street Trust (the Trust). Each Fund is authorized to issue an unlimited number of shares. Shares are offered only to certain clients of Fidelity Management & Research Company (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Investments in emerging markets, if applicable, can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.
 
2.Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense Ratio A
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds,and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3.Significant Accounting Policies.
Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated each Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, each Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages each Fund's fair valuation practices and maintains the fair valuation policies and procedures. Each Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
Each Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value each Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of each Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and for certain Funds include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends or foreign taxes withheld or foreign tax reclaims. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable or reclaims receivable. Fidelity SAI International Low Volatility Index Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign tax reclaims. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. Fidelity SAI Emerging Markets Low Volatility Index Fund is subject to a tax imposed on capital gainsby certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses or Deferred taxes on each applicable Fund's Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to partnerships, futures contracts, certain foreign taxes, foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:
 
 
Tax cost ($)
Gross unrealized appreciation ($)
Gross unrealized depreciation ($)
Net unrealized appreciation (depreciation) ($)
Fidelity SAI Emerging Markets Low Volatility Index Fund 
3,127,174,656
561,705,546
(207,146,581)
354,558,965
Fidelity SAI International Low Volatility Index Fund 
6,191,783,618
929,992,353
(458,514,243)
471,478,110
Fidelity SAI U.S. Low Volatility Index Fund 
10,790,740,852
2,765,172,948
(365,874,966)
2,399,297,982
 
Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 
Short-term ($)
Long-term ($)
Total capital loss carryforward ($)
Fidelity SAI Emerging Markets Low Volatility Index Fund 
(3,358,628)
-
(3,358,628)
Fidelity SAI International Low Volatility Index Fund 
(71,961,889)
(171,061,148)
(243,023,037)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4.Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. Each Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5.Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI Emerging Markets Low Volatility Index Fund
618,965,109
647,292,188
Fidelity SAI International Low Volatility Index Fund
1,274,219,631
1,197,188,449
Fidelity SAI U.S. Low Volatility Index Fund
4,584,263,433
2,057,569,349
6.Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services for which the Funds pay a monthly management fee. Each Fund's management fee is equal to the following annualized rate of average net assets:
 
Fidelity SAI Emerging Markets Low Volatility Index Fund
.15%
Fidelity SAI International Low Volatility Index Fund
.15%
Fidelity SAI U.S. Low Volatility Index Fund
.10%
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Funds. Geode provides discretionary investment advisory services to the Funds and is paid by the investment adviser for providing these services.
 
Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), each Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing each Fund to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:
 
 
 
Borrower or Lender
Average Loan Balance ($)
Weighted Average Interest Rate
Interest Expense ($)
Fidelity SAI Emerging Markets Low Volatility Index Fund 
 Borrower
 36,619,296
5.57%
 152,932
Fidelity SAI International Low Volatility Index Fund 
 Borrower
 32,940,321
5.57%
 142,693
Fidelity SAI U.S. Low Volatility Index Fund 
 Borrower
86,929,500
5.57%
 241,916
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
 
Other. During the period, the investment adviser reimbursed the Fund for certain losses as follows:
 
 
Amount ($)
Fidelity SAI International Low Volatility Index Fund
406,453
 
7.Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations,and are listed below. During the period, there were no borrowings on this line of credit.
 
 
Amount ($)
Fidelity SAI Emerging Markets Low Volatility Index Fund
3,240
Fidelity SAI International Low Volatility Index Fund
 6,240
Fidelity SAI U.S. Low Volatility Index Fund
9,474
8.Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity SAI Emerging Markets Low Volatility Index Fund
37
 -
-
Fidelity SAI International Low Volatility Index Fund
 44,215
 -
-
Fidelity SAI U.S. Low Volatility Index Fund
 1,347
 21
 -
9.Expense Reductions.
The investment adviser contractually agreed to reimburse expenses of Fidelity SAI Emerging Markets Low Volatility Index Fund to the extent annual operating expenses exceeded certain levels of average net assets as noted in the table below. This reimbursement will remain in place through February 28, 2025. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement.
 
The following Funds were in reimbursement during the period:
 
 
Expense Limitations
Reimbursement ($)
Fidelity SAI Emerging Markets Low Volatility Index Fund
.25%
 8,911
 
Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's expenses. All of the applicable expense reductions are noted in the table below.
 
 
Custodian credits ($)
Fidelity SAI International Low Volatility Index Fund 
 38,530
Fidelity SAI U.S. Low Volatility Index Fund 
 359
10.Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Emerging Markets Fund
Strategic Advisers Fidelity Emerging Markets Fund
Strategic Advisers Fidelity International Fund
Strategic Advisers International Fund
Strategic Advisers Fidelity U.S. Total Stock Fund
Strategic Advisers Large Cap Fund
Fidelity SAI Emerging Markets Low Volatility Index Fund
18%
25%
-
-
-
-
Fidelity SAI International Low Volatility Index Fund
-
-
33%
14%
-
-
Fidelity SAI U.S. Low Volatility Index Fund
-
-
-
-
48%
13%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI Emerging Markets Low Volatility Index Fund
43%
Fidelity SAI International Low Volatility Index Fund
47%
Fidelity SAI U.S. Low Volatility Index Fund
61%
11.Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
 
 
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI Emerging Markets Low Volatility Index Fund
 
 
 
.26%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,108.70
 
$ 1.36
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,023.57
 
$ 1.31
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI International Low Volatility Index Fund
 
 
 
.17%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,098.70
 
$ .89
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.02
 
$ .86
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI U.S. Low Volatility Index Fund
 
 
 
.12%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,134.70
 
$ .64
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.27
 
$ .60
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Funds have adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage each Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. Each Fund's Board of Trustees (the Board) has designated each Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factor specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable. 
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9867662.108
SV1-SV2-SANN-0624
Fidelity® U.S. Sustainability Index Fund
 
 
Semi-Annual Report
April 30, 2024

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Microsoft Corp.
10.4
 
NVIDIA Corp.
8.1
 
Alphabet, Inc. Class A
3.7
 
Alphabet, Inc. Class C
3.2
 
Eli Lilly & Co.
2.7
 
Tesla, Inc.
2.1
 
Visa, Inc. Class A
1.7
 
MasterCard, Inc. Class A
1.6
 
Procter & Gamble Co.
1.5
 
Johnson & Johnson
1.4
 
 
36.4
 
 
Market Sectors (% of Fund's net assets)
 
Information Technology
28.5
 
Health Care
11.0
 
Financials
11.0
 
Communication Services
9.5
 
Industrials
8.2
 
Consumer Discretionary
7.9
 
Consumer Staples
5.2
 
Materials
2.5
 
Energy
1.9
 
Real Estate
1.9
 
Utilities
0.9
 
 
Asset Allocation (% of Fund's net assets)
Futures - 11.4%
 
 
Showing Percentage of Net Assets
Common Stocks - 88.5%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 9.5%
 
 
 
Diversified Telecommunication Services - 0.6%
 
 
 
Liberty Global Ltd. Class C
 
23,277
381,044
Verizon Communications, Inc.
 
583,958
23,060,501
 
 
 
23,441,545
Entertainment - 1.1%
 
 
 
Electronic Arts, Inc.
 
55,752
7,070,469
Take-Two Interactive Software, Inc. (a)
 
32,062
4,578,774
The Walt Disney Co.
 
271,639
30,179,093
 
 
 
41,828,336
Interactive Media & Services - 7.0%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A
 
823,241
134,007,170
 Class C
 
724,282
119,245,788
Snap, Inc. Class A (a)
 
187,498
2,821,845
 
 
 
256,074,803
Media - 0.8%
 
 
 
Comcast Corp. Class A
 
557,702
21,254,023
Fox Corp. Class A
 
49,572
1,537,228
Interpublic Group of Companies, Inc.
 
53,278
1,621,782
Omnicom Group, Inc.
 
27,303
2,534,811
Sirius XM Holdings, Inc.
 
105,742
310,881
 
 
 
27,258,725
TOTAL COMMUNICATION SERVICES
 
 
348,603,409
CONSUMER DISCRETIONARY - 7.9%
 
 
 
Automobile Components - 0.1%
 
 
 
Aptiv PLC (a)
 
39,076
2,774,396
BorgWarner, Inc.
 
32,344
1,059,913
Lear Corp.
 
8,083
1,017,407
 
 
 
4,851,716
Automobiles - 2.1%
 
 
 
Rivian Automotive, Inc. (a)
 
91,083
810,639
Tesla, Inc. (a)
 
418,013
76,613,423
 
 
 
77,424,062
Broadline Retail - 0.3%
 
 
 
eBay, Inc.
 
54,191
2,793,004
MercadoLibre, Inc. (a)
 
6,327
9,229,195
 
 
 
12,022,199
Distributors - 0.2%
 
 
 
Genuine Parts Co.
 
18,853
2,963,880
LKQ Corp.
 
37,030
1,597,104
Pool Corp.
 
5,400
1,957,662
 
 
 
6,518,646
Hotels, Restaurants & Leisure - 1.6%
 
 
 
Booking Holdings, Inc.
 
4,857
16,766,510
Hilton Worldwide Holdings, Inc.
 
35,575
7,018,236
McDonald's Corp.
 
100,624
27,474,377
Vail Resorts, Inc.
 
5,249
994,003
Yum! Brands, Inc.
 
38,699
5,466,234
 
 
 
57,719,360
Household Durables - 0.2%
 
 
 
NVR, Inc. (a)
 
441
3,280,533
PulteGroup, Inc.
 
30,301
3,376,137
 
 
 
6,656,670
Leisure Products - 0.0%
 
 
 
Hasbro, Inc.
 
18,136
1,111,737
Specialty Retail - 2.7%
 
 
 
AutoZone, Inc. (a)
 
2,395
7,080,578
Best Buy Co., Inc.
 
27,085
1,994,539
Burlington Stores, Inc. (a)
 
8,976
1,615,141
CarMax, Inc. (a)
 
21,832
1,483,921
Lowe's Companies, Inc.
 
79,683
18,166,927
The Home Depot, Inc.
 
138,530
46,299,497
TJX Companies, Inc.
 
157,951
14,861,610
Tractor Supply Co.
 
15,022
4,102,208
Ulta Beauty, Inc. (a)
 
6,797
2,751,697
 
 
 
98,356,118
Textiles, Apparel & Luxury Goods - 0.7%
 
 
 
Deckers Outdoor Corp. (a)
 
3,611
2,955,495
lululemon athletica, Inc. (a)
 
15,927
5,743,276
NIKE, Inc. Class B
 
169,009
15,592,770
 
 
 
24,291,541
TOTAL CONSUMER DISCRETIONARY
 
 
288,952,049
CONSUMER STAPLES - 5.2%
 
 
 
Beverages - 2.0%
 
 
 
Keurig Dr. Pepper, Inc.
 
144,705
4,876,559
PepsiCo, Inc.
 
191,106
33,617,456
The Coca-Cola Co.
 
570,531
35,241,700
 
 
 
73,735,715
Consumer Staples Distribution & Retail - 0.4%
 
 
 
Kroger Co.
 
94,336
5,224,328
Target Corp.
 
64,113
10,320,911
 
 
 
15,545,239
Food Products - 0.6%
 
 
 
Bunge Global SA
 
20,829
2,119,559
Campbell Soup Co.
 
26,648
1,218,080
Conagra Brands, Inc.
 
66,116
2,035,050
Darling Ingredients, Inc. (a)
 
21,946
929,852
General Mills, Inc.
 
77,564
5,465,159
Hormel Foods Corp.
 
41,357
1,470,655
Kellanova
 
37,861
2,190,637
Lamb Weston Holdings, Inc.
 
20,037
1,669,884
McCormick & Co., Inc. (non-vtg.)
 
34,724
2,641,107
The J.M. Smucker Co.
 
14,680
1,685,998
 
 
 
21,425,981
Household Products - 2.2%
 
 
 
Church & Dwight Co., Inc.
 
33,968
3,664,808
Colgate-Palmolive Co.
 
108,439
9,967,713
Kimberly-Clark Corp.
 
45,366
6,193,820
Procter & Gamble Co.
 
345,385
56,366,832
The Clorox Co.
 
17,132
2,533,309
 
 
 
78,726,482
TOTAL CONSUMER STAPLES
 
 
189,433,417
ENERGY - 1.9%
 
 
 
Energy Equipment & Services - 0.5%
 
 
 
Baker Hughes Co. Class A
 
139,399
4,547,195
Halliburton Co.
 
124,086
4,649,502
Schlumberger Ltd.
 
197,776
9,390,404
 
 
 
18,587,101
Oil, Gas & Consumable Fuels - 1.4%
 
 
 
Cheniere Energy, Inc.
 
33,225
5,243,570
HF Sinclair Corp.
 
22,094
1,198,600
Kinder Morgan, Inc.
 
276,927
5,062,226
Marathon Petroleum Corp.
 
52,843
9,602,630
ONEOK, Inc.
 
80,433
6,363,859
Phillips 66 Co.
 
61,483
8,804,980
Targa Resources Corp.
 
29,359
3,348,688
The Williams Companies, Inc.
 
167,951
6,442,600
Valero Energy Corp.
 
39,228
6,271,380
 
 
 
52,338,533
TOTAL ENERGY
 
 
70,925,634
FINANCIALS - 11.0%
 
 
 
Banks - 0.9%
 
 
 
Citizens Financial Group, Inc.
 
65,296
2,227,247
Huntington Bancshares, Inc.
 
200,013
2,694,175
PNC Financial Services Group, Inc.
 
54,986
8,427,154
Regions Financial Corp.
 
124,869
2,406,226
Truist Financial Corp.
 
183,925
6,906,384
U.S. Bancorp
 
215,801
8,767,995
 
 
 
31,429,181
Capital Markets - 3.4%
 
 
 
Ameriprise Financial, Inc.
 
16,414
6,759,121
Bank of New York Mellon Corp.
 
105,335
5,950,374
BlackRock, Inc. Class A
 
20,762
15,667,836
Cboe Global Markets, Inc.
 
14,577
2,640,624
Charles Schwab Corp.
 
230,476
17,043,700
FactSet Research Systems, Inc.
 
5,271
2,197,427
Franklin Resources, Inc.
 
41,195
940,894
Intercontinental Exchange, Inc.
 
81,891
10,544,285
LPL Financial
 
11,496
3,093,918
MarketAxess Holdings, Inc.
 
5,184
1,037,267
Moody's Corp.
 
23,899
8,850,517
Morgan Stanley
 
171,595
15,587,690
NASDAQ, Inc.
 
47,501
2,842,935
Northern Trust Corp.
 
28,604
2,356,684
Raymond James Financial, Inc.
 
27,395
3,342,190
S&P Global, Inc.
 
48,636
20,224,308
State Street Corp.
 
42,123
3,053,496
T. Rowe Price Group, Inc.
 
30,978
3,394,259
 
 
 
125,527,525
Consumer Finance - 0.8%
 
 
 
Ally Financial, Inc.
 
37,352
1,432,449
American Express Co.
 
81,575
19,090,997
Discover Financial Services
 
34,522
4,374,973
Synchrony Financial
 
57,825
2,543,144
 
 
 
27,441,563
Financial Services - 3.9%
 
 
 
Equitable Holdings, Inc.
 
47,795
1,764,113
Fidelity National Information Services, Inc.
 
81,821
5,557,282
Fiserv, Inc. (a)
 
84,628
12,920,157
MasterCard, Inc. Class A
 
127,146
57,368,275
Visa, Inc. Class A
 
237,475
63,788,160
 
 
 
141,397,987
Insurance - 2.0%
 
 
 
AFLAC, Inc.
 
76,892
6,432,016
Allstate Corp.
 
36,120
6,142,567
Arch Capital Group Ltd. (a)
 
51,498
4,817,123
Assurant, Inc.
 
7,296
1,272,422
Hartford Financial Services Group, Inc.
 
41,413
4,012,506
Marsh & McLennan Companies, Inc.
 
68,815
13,723,775
Principal Financial Group, Inc.
 
31,963
2,529,552
Progressive Corp.
 
89,586
18,656,285
Prudential Financial, Inc.
 
50,137
5,539,136
The Travelers Companies, Inc.
 
31,611
6,706,590
Willis Towers Watson PLC
 
14,194
3,564,681
 
 
 
73,396,653
Mortgage Real Estate Investment Trusts - 0.0%
 
 
 
Annaly Capital Management, Inc.
 
67,961
1,273,589
TOTAL FINANCIALS
 
 
400,466,498
HEALTH CARE - 11.0%
 
 
 
Biotechnology - 1.0%
 
 
 
Amgen, Inc.
 
74,336
20,363,604
Biogen, Inc. (a)
 
19,998
4,295,970
Gilead Sciences, Inc.
 
172,040
11,217,008
Repligen Corp. (a)
 
8,092
1,328,706
 
 
 
37,205,288
Health Care Equipment & Supplies - 1.0%
 
 
 
Align Technology, Inc. (a)
 
10,042
2,835,660
DexCom, Inc. (a)
 
53,557
6,822,626
Edwards Lifesciences Corp. (a)
 
83,939
7,107,115
Hologic, Inc. (a)
 
32,795
2,484,877
IDEXX Laboratories, Inc. (a)
 
11,462
5,648,015
Insulet Corp. (a)
 
9,657
1,660,425
STERIS PLC
 
13,639
2,789,994
Teleflex, Inc.
 
6,466
1,349,778
The Cooper Companies, Inc.
 
27,364
2,437,038
Zimmer Biomet Holdings, Inc.
 
28,854
3,470,559
 
 
 
36,606,087
Health Care Providers & Services - 1.7%
 
 
 
Cencora, Inc.
 
26,350
6,298,968
Cigna Group
 
41,494
14,815,018
DaVita, Inc. (a)
 
7,538
1,047,857
Elevance Health, Inc.
 
32,536
17,197,879
HCA Holdings, Inc.
 
27,874
8,635,923
Humana, Inc.
 
17,108
5,168,156
Laboratory Corp. of America Holdings
 
11,521
2,319,984
Molina Healthcare, Inc. (a)
 
8,050
2,753,905
Quest Diagnostics, Inc.
 
15,514
2,143,725
 
 
 
60,381,415
Life Sciences Tools & Services - 1.3%
 
 
 
Agilent Technologies, Inc.
 
40,407
5,537,375
Avantor, Inc. (a)
 
106,239
2,574,171
Bio-Techne Corp.
 
21,774
1,376,335
Danaher Corp.
 
106,904
26,364,664
Illumina, Inc. (a)
 
21,862
2,690,119
Mettler-Toledo International, Inc. (a)
 
3,020
3,713,694
Waters Corp. (a)
 
8,165
2,523,312
West Pharmaceutical Services, Inc.
 
10,671
3,814,669
 
 
 
48,594,339
Pharmaceuticals - 6.0%
 
 
 
Bristol-Myers Squibb Co.
 
281,212
12,356,455
Eli Lilly & Co.
 
124,968
97,612,505
Jazz Pharmaceuticals PLC (a)
 
8,253
914,020
Johnson & Johnson
 
348,163
50,340,888
Merck & Co., Inc.
 
372,914
48,187,947
Zoetis, Inc. Class A
 
63,560
10,121,294
 
 
 
219,533,109
TOTAL HEALTH CARE
 
 
402,320,238
INDUSTRIALS - 8.2%
 
 
 
Aerospace & Defense - 0.1%
 
 
 
Axon Enterprise, Inc. (a)
 
9,814
3,078,259
Air Freight & Logistics - 0.5%
 
 
 
C.H. Robinson Worldwide, Inc.
 
16,021
1,137,491
Expeditors International of Washington, Inc.
 
19,847
2,209,170
United Parcel Service, Inc. Class B
 
100,170
14,773,072
 
 
 
18,119,733
Building Products - 1.1%
 
 
 
Allegion PLC
 
12,078
1,468,202
Builders FirstSource, Inc. (a)
 
21,281
3,890,592
Carrier Global Corp.
 
112,609
6,924,327
Fortune Brands Innovations, Inc.
 
17,460
1,276,326
Johnson Controls International PLC
 
93,935
6,112,350
Lennox International, Inc.
 
6,664
3,088,231
Masco Corp.
 
34,861
2,386,235
Owens Corning
 
15,362
2,584,042
Trane Technologies PLC
 
38,908
12,347,065
 
 
 
40,077,370
Commercial Services & Supplies - 0.6%
 
 
 
Cintas Corp.
 
12,757
8,398,443
Waste Management, Inc.
 
55,920
11,632,478
 
 
 
20,030,921
Construction & Engineering - 0.2%
 
 
 
AECOM
 
18,247
1,685,293
Quanta Services, Inc.
 
20,046
5,183,094
 
 
 
6,868,387
Electrical Equipment - 0.9%
 
 
 
Eaton Corp. PLC
 
63,867
20,326,311
Emerson Electric Co.
 
78,910
8,504,920
Rockwell Automation, Inc.
 
15,860
4,297,426
 
 
 
33,128,657
Ground Transportation - 1.2%
 
 
 
CSX Corp.
 
274,216
9,109,456
J.B. Hunt Transport Services, Inc.
 
11,429
1,858,013
Knight-Swift Transportation Holdings, Inc. Class A
 
22,194
1,026,029
Norfolk Southern Corp.
 
31,350
7,220,532
Old Dominion Freight Lines, Inc.
 
28,211
5,126,221
Union Pacific Corp.
 
88,596
21,011,427
 
 
 
45,351,678
Industrial Conglomerates - 0.2%
 
 
 
3M Co.
 
76,226
7,356,571
Machinery - 1.9%
 
 
 
Caterpillar, Inc.
 
77,493
25,926,833
Cummins, Inc.
 
19,560
5,525,504
Dover Corp.
 
18,893
3,387,515
Fortive Corp.
 
48,609
3,658,799
Graco, Inc.
 
23,373
1,874,515
IDEX Corp.
 
10,450
2,303,807
Illinois Tool Works, Inc.
 
41,751
10,191,837
Ingersoll Rand, Inc.
 
63,145
5,892,691
Otis Worldwide Corp.
 
55,773
5,086,498
Pentair PLC
 
22,719
1,796,846
Toro Co.
 
14,289
1,251,574
Xylem, Inc.
 
33,254
4,346,298
 
 
 
71,242,717
Passenger Airlines - 0.0%
 
 
 
Delta Air Lines, Inc.
 
22,135
1,108,299
Professional Services - 0.8%
 
 
 
Automatic Data Processing, Inc.
 
57,098
13,811,435
Broadridge Financial Solutions, Inc.
 
16,347
3,161,673
Dayforce, Inc. (a)
 
21,619
1,326,758
Paychex, Inc.
 
44,893
5,333,737
Paylocity Holding Corp. (a)
 
6,416
995,507
Robert Half, Inc.
 
14,734
1,018,709
TransUnion
 
27,025
1,972,825
 
 
 
27,620,644
Trading Companies & Distributors - 0.7%
 
 
 
Fastenal Co.
 
79,525
5,402,929
Ferguson PLC
 
32,578
6,838,122
United Rentals, Inc.
 
11,218
7,493,512
W.W. Grainger, Inc.
 
7,338
6,760,866
 
 
 
26,495,429
TOTAL INDUSTRIALS
 
 
300,478,665
INFORMATION TECHNOLOGY - 28.5%
 
 
 
Electronic Equipment, Instruments & Components - 0.2%
 
 
 
Keysight Technologies, Inc. (a)
 
24,513
3,626,453
Trimble, Inc. (a)
 
34,365
2,064,306
 
 
 
5,690,759
IT Services - 1.6%
 
 
 
Accenture PLC Class A
 
94,990
28,583,441
Akamai Technologies, Inc. (a)
 
20,963
2,115,796
Gartner, Inc. (a)
 
13,499
5,569,552
IBM Corp.
 
136,754
22,728,515
Twilio, Inc. Class A (a)
 
23,821
1,426,401
 
 
 
60,423,705
Semiconductors & Semiconductor Equipment - 10.7%
 
 
 
Applied Materials, Inc.
 
118,531
23,546,183
Intel Corp.
 
591,601
18,026,082
Lam Research Corp.
 
18,578
16,616,349
Marvell Technology, Inc.
 
123,674
8,151,353
NVIDIA Corp.
 
342,706
296,104,838
NXP Semiconductors NV
 
36,594
9,375,017
Texas Instruments, Inc.
 
111,260
19,628,489
 
 
 
391,448,311
Software - 15.7%
 
 
 
Adobe, Inc. (a)
 
67,248
31,124,392
ANSYS, Inc. (a)
 
12,320
4,002,522
Autodesk, Inc. (a)
 
35,020
7,454,007
Cadence Design Systems, Inc. (a)
 
45,032
12,412,170
DocuSign, Inc. (a)
 
32,539
1,841,707
Fair Isaac Corp. (a)
 
4,474
5,070,518
Gen Digital, Inc.
 
86,928
1,750,730
HubSpot, Inc. (a)
 
8,527
5,157,726
Intuit, Inc.
 
45,041
28,178,550
Microsoft Corp.
 
979,318
381,277,877
PTC, Inc. (a)
 
30,062
5,334,201
Salesforce, Inc.
 
148,417
39,915,268
ServiceNow, Inc. (a)
 
36,160
25,070,813
Synopsys, Inc. (a)
 
24,163
12,820,646
Workday, Inc. Class A (a)
 
38,989
9,541,778
Zscaler, Inc. (a)
 
18,127
3,134,883
 
 
 
574,087,788
Technology Hardware, Storage & Peripherals - 0.3%
 
 
 
Hewlett Packard Enterprise Co.
 
137,659
2,340,203
HP, Inc.
 
111,186
3,123,215
NetApp, Inc.
 
28,846
2,948,350
Seagate Technology Holdings PLC
 
17,534
1,506,346
Western Digital Corp. (a)
 
19,564
1,385,718
 
 
 
11,303,832
TOTAL INFORMATION TECHNOLOGY
 
 
1,042,954,395
MATERIALS - 2.5%
 
 
 
Chemicals - 1.7%
 
 
 
Ecolab, Inc.
 
38,295
8,660,414
International Flavors & Fragrances, Inc.
 
35,252
2,984,082
Linde PLC
 
71,122
31,361,957
LyondellBasell Industries NV Class A
 
35,815
3,580,426
PPG Industries, Inc.
 
32,518
4,194,822
Sherwin-Williams Co.
 
37,860
11,343,235
 
 
 
62,124,936
Construction Materials - 0.1%
 
 
 
Martin Marietta Materials, Inc.
 
8,769
5,148,017
Containers & Packaging - 0.3%
 
 
 
Amcor PLC
 
200,064
1,788,572
Avery Dennison Corp.
 
11,139
2,420,282
Ball Corp.
 
43,528
3,028,243
International Paper Co.
 
45,502
1,589,840
WestRock Co.
 
35,281
1,692,077
 
 
 
10,519,014
Metals & Mining - 0.4%
 
 
 
Newmont Corp.
 
159,127
6,466,921
Nucor Corp.
 
34,339
5,787,152
Steel Dynamics, Inc.
 
21,156
2,752,819
 
 
 
15,006,892
TOTAL MATERIALS
 
 
92,798,859
REAL ESTATE - 1.9%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 1.8%
 
 
 
American Tower Corp.
 
65,156
11,178,163
Boston Properties, Inc.
 
20,505
1,269,054
Crown Castle, Inc.
 
59,888
5,616,297
Digital Realty Trust, Inc.
 
45,561
6,322,956
Equinix, Inc.
 
13,894
9,880,162
Healthpeak Properties, Inc.
 
97,751
1,819,146
Iron Mountain, Inc.
 
44,273
3,432,043
Prologis, Inc.
 
132,862
13,558,567
SBA Communications Corp. Class A
 
14,969
2,786,030
Welltower, Inc.
 
77,389
7,373,624
Weyerhaeuser Co.
 
100,923
3,044,847
 
 
 
66,280,889
Real Estate Management & Development - 0.1%
 
 
 
CBRE Group, Inc. (a)
 
41,743
3,627,049
TOTAL REAL ESTATE
 
 
69,907,938
UTILITIES - 0.9%
 
 
 
Electric Utilities - 0.4%
 
 
 
Edison International
 
52,913
3,759,998
Eversource Energy
 
48,209
2,922,430
Exelon Corp.
 
120,271
4,519,784
NRG Energy, Inc.
 
35,175
2,556,167
 
 
 
13,758,379
Gas Utilities - 0.1%
 
 
 
Atmos Energy Corp.
 
20,514
2,418,601
Multi-Utilities - 0.3%
 
 
 
CMS Energy Corp.
 
40,309
2,443,128
Consolidated Edison, Inc.
 
47,614
4,494,762
Sempra
 
78,151
5,597,956
 
 
 
12,535,846
Water Utilities - 0.1%
 
 
 
American Water Works Co., Inc.
 
26,897
3,290,041
Essential Utilities, Inc.
 
34,576
1,264,790
 
 
 
4,554,831
TOTAL UTILITIES
 
 
33,267,657
 
TOTAL COMMON STOCKS
 (Cost $2,495,235,694)
 
 
 
3,240,108,759
 
 
 
 
U.S. Treasury Obligations - 0.3%
 
 
Principal
Amount (b)
 
Value ($)
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (c)
 
 (Cost $9,968,005)
 
 
10,000,000
9,967,733
 
 
 
 
Money Market Funds - 10.9%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (d)
 
 (Cost $397,804,051)
 
 
397,724,506
397,804,051
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.7%
 (Cost $2,903,007,750)
 
 
 
3,647,880,543
NET OTHER ASSETS (LIABILITIES) - 0.3%  
11,968,474
NET ASSETS - 100.0%
3,659,849,017
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
CME E-mini NASDAQ 100 Index Contracts (United States)
237
Jun 2024
83,287,725
(3,450,566)
(3,450,566)
CME E-mini S&P 500 Index Contracts (United States)
1,318
Jun 2024
333,915,300
(8,330,746)
(8,330,746)
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(11,781,312)
The notional amount of futures purchased as a percentage of Net Assets is 11.4%
 
For the period, the average monthly notional amount at value for futures contracts in the aggregate was $234,890,884.
 
Legend
 
(a)
Non-income producing
 
(b)
Amount is stated in United States dollars unless otherwise noted.
 
(c)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $9,967,733.
 
(d)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
16,961,349
733,130,202
352,287,676
5,041,396
176
-
397,804,051
0.8%
Total
16,961,349
733,130,202
352,287,676
5,041,396
176
-
397,804,051
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
348,603,409
348,603,409
-
-
Consumer Discretionary
288,952,049
288,952,049
-
-
Consumer Staples
189,433,417
189,433,417
-
-
Energy
70,925,634
70,925,634
-
-
Financials
400,466,498
400,466,498
-
-
Health Care
402,320,238
402,320,238
-
-
Industrials
300,478,665
300,478,665
-
-
Information Technology
1,042,954,395
1,042,954,395
-
-
Materials
92,798,859
92,798,859
-
-
Real Estate
69,907,938
69,907,938
-
-
Utilities
33,267,657
33,267,657
-
-
 U.S. Government and Government Agency Obligations
9,967,733
-
9,967,733
-
  Money Market Funds
397,804,051
397,804,051
-
-
 Total Investments in Securities:
3,647,880,543
3,637,912,810
9,967,733
-
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(11,781,312)
(11,781,312)
-
-
  Total Liabilities
(11,781,312)
(11,781,312)
-
-
 Total Derivative Instruments:
(11,781,312)
(11,781,312)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(11,781,312)
Total Equity Risk
0
(11,781,312)
Total Value of Derivatives
0
(11,781,312)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $2,505,203,699)
$
3,250,076,492
 
 
Fidelity Central Funds (cost $397,804,051)
397,804,051
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $2,903,007,750)
 
 
$
3,647,880,543
Segregated cash with brokers for derivative instruments
 
 
9,757,060
Receivable for fund shares sold
 
 
6,591,381
Dividends receivable
 
 
2,190,658
Distributions receivable from Fidelity Central Funds
 
 
1,764,920
  Total assets
 
 
3,668,184,562
Liabilities
 
 
 
 
Payable for fund shares redeemed
$
1,193,258
 
 
Accrued management fee
338,244
 
 
Payable for daily variation margin on futures contracts
6,804,043
 
 
  Total liabilities
 
 
 
8,335,545
Net Assets  
 
 
$
3,659,849,017
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
2,999,010,947
Total accumulated earnings (loss)
 
 
 
660,838,070
Net Assets
 
 
$
3,659,849,017
Net Asset Value, offering price and redemption price per share ($3,659,849,017 ÷ 161,466,521 shares)
 
 
$
22.67
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
20,195,439
Interest  
 
 
206,586
Income from Fidelity Central Funds  
 
 
5,041,396
 Total income
 
 
 
25,443,421
Expenses
 
 
 
 
Management fee
$
1,759,472
 
 
Independent trustees' fees and expenses
4,247
 
 
Miscellaneous
1,922
 
 
 Total expenses before reductions
 
1,765,641
 
 
 Expense reductions
 
(967)
 
 
 Total expenses after reductions
 
 
 
1,764,674
Net Investment income (loss)
 
 
 
23,678,747
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(7,518,125)
 
 
   Fidelity Central Funds
 
176
 
 
 Futures contracts
 
14,405,175
 
 
Total net realized gain (loss)
 
 
 
6,887,226
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
551,514,283
 
 
 Futures contracts
 
(11,682,666)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
539,831,617
Net gain (loss)
 
 
 
546,718,843
Net increase (decrease) in net assets resulting from operations
 
 
$
570,397,590
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
23,678,747
$
33,324,339
Net realized gain (loss)
 
6,887,226
 
 
(73,445,153)
 
Change in net unrealized appreciation (depreciation)
 
539,831,617
 
280,924,535
 
Net increase (decrease) in net assets resulting from operations
 
570,397,590
 
 
240,803,721
 
Distributions to shareholders
 
(32,020,496)
 
 
(31,003,717)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,008,770,073
 
667,415,739
  Reinvestment of distributions
 
29,325,296
 
 
28,625,159
 
Cost of shares redeemed
 
(340,137,234)
 
(661,727,724)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
697,958,135
 
 
34,313,174
 
Total increase (decrease) in net assets
 
1,236,335,229
 
 
244,113,178
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
2,423,513,788
 
2,179,400,610
 
End of period
$
3,659,849,017
$
2,423,513,788
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
46,158,922
 
35,494,418
  Issued in reinvestment of distributions
 
1,430,502
 
 
1,672,031
 
Redeemed
 
(15,857,794)
 
(36,785,982)
Net increase (decrease)
 
31,731,630
 
380,467
 
 
 
 
 
 
Financial Highlights
 
Fidelity® U.S. Sustainability Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
18.68
$
16.85
$
20.91
$
14.29
$
13.18
$
11.43
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.16
 
.27
 
.25
 
.23
 
.23
 
.23
     Net realized and unrealized gain (loss)
 
4.07
 
1.81
 
(4.10)
 
6.56
 
1.08
 
1.69
  Total from investment operations
 
4.23  
 
2.08  
 
(3.85)  
 
6.79  
 
1.31
 
1.92
  Distributions from net investment income
 
(.24)
 
(.25)
 
(.17)
 
(.17)
 
(.18)
 
(.15)
  Distributions from net realized gain
 
-
 
-
 
(.04)
 
-
 
(.02)
 
(.02)
     Total distributions
 
(.24)
 
(.25)
 
(.21)
 
(.17)
 
(.20)
 
(.17)
  Net asset value, end of period
$
22.67
$
18.68
$
16.85
$
20.91
$
14.29
$
13.18
 Total Return C,D
 
22.77
%
 
 
12.47%
 
(18.58)%
 
47.84%
 
9.99%
 
17.06%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.11% G,H
 
.11%
 
.11%
 
.11%
 
.11%
 
.11%
    Expenses net of fee waivers, if any
 
.11
% G,H
 
 
.11%
 
.11%
 
.11%
 
.11%
 
.11%
    Expenses net of all reductions
 
.11% G,H
 
.11%
 
.11%
 
.11%
 
.11%
 
.11%
    Net investment income (loss)
 
1.48% G,H
 
1.48%
 
1.37%
 
1.28%
 
1.68%
 
1.84%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
3,659,849
$
2,423,514
$
2,179,401
$
1,868,457
$
488,752
$
206,094
    Portfolio turnover rate I
 
6
% G
 
 
21%
 
9%
 
12%
 
10%
 
12%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAnnualized.
 
HProxy expenses are not annualized.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity U.S. Sustainability Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$893,610,501
Gross unrealized depreciation
(176,693,566)
Net unrealized appreciation (depreciation)
$716,916,935
Tax cost
$2,919,182,296
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(60,057,755)
 Long-term
(24,963,602)
Total capital loss carryforward
$(85,021,357)
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity U.S. Sustainability Index Fund
394,772,010
92,554,572
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is based on an annual rate of .11% of the Fund's average net assets. Under the management contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
8. Expense Reductions.
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $967.
9. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
10. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® U.S. Sustainability Index Fund
 
 
 
.11%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,227.70
 
$ .61
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.32
 
$ .55
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9883816.106
USY-SANN-0624
Fidelity Flex® Funds
 
Fidelity Flex® International Index Fund
 
 
Semi-Annual Report
April 30, 2024

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 (for managed account clients) or 1-800-835-5092 (for retirement plan participants) to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
2.2
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
1.6
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
1.3
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
1.1
 
Nestle SA (Reg. S)  (United States of America, Food Products)
1.0
 
Samsung Electronics Co. Ltd.  (Korea (South), Technology Hardware, Storage & Peripherals)
1.0
 
Toyota Motor Corp.  (Japan, Automobiles)
0.9
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
0.9
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
0.9
 
LVMH Moet Hennessy Louis Vuitton SE  (France, Textiles, Apparel & Luxury Goods)
0.9
 
 
11.8
 
 
Market Sectors (% of Fund's net assets)
 
Financials
21.7
 
Industrials
12.2
 
Information Technology
11.9
 
Consumer Discretionary
11.2
 
Health Care
9.0
 
Materials
7.1
 
Consumer Staples
7.1
 
Energy
5.7
 
Communication Services
4.9
 
Utilities
2.4
 
Real Estate
1.6
 
 
Asset Allocation (% of Fund's net assets)
Futures - 5.3%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 93.9%
 
 
Shares
Value ($)
 
Australia - 4.4%
 
 
 
Ampol Ltd.
 
19,333
456,525
ANZ Group Holdings Ltd.
 
244,664
4,414,700
APA Group unit
 
103,273
551,114
Aristocrat Leisure Ltd.
 
47,191
1,204,314
ASX Ltd.
 
15,589
636,813
Aurizon Holdings Ltd.
 
148,982
365,937
BHP Group Ltd.
 
412,636
11,317,003
BlueScope Steel Ltd.
 
35,959
524,837
Brambles Ltd.
 
113,604
1,068,747
CAR Group Ltd.
 
29,170
632,508
Cochlear Ltd.
 
5,361
1,118,347
Coles Group Ltd.
 
109,323
1,140,153
Commonwealth Bank of Australia
 
136,262
9,983,853
Computershare Ltd.
 
43,888
771,041
DEXUS Property Group unit
 
87,726
398,470
EBOS Group Ltd.
 
12,960
267,067
Endeavour Group Ltd.
 
119,070
409,470
Fortescue Ltd.
 
138,175
2,290,174
Glencore PLC
 
844,989
4,916,623
Goodman Group unit
 
139,224
2,812,274
IDP Education Ltd.
 
22,035
229,757
Insurance Australia Group Ltd.
 
197,334
817,550
Macquarie Group Ltd.
 
29,726
3,559,347
Magellan Financial Group Ltd. warrants 4/16/27 (a)
 
50
4
Medibank Private Ltd.
 
221,687
508,076
Mineral Resources Ltd.
 
14,141
641,469
Mirvac Group unit
 
320,080
419,391
National Australia Bank Ltd.
 
253,758
5,500,847
Northern Star Resources Ltd.
 
94,245
893,323
Orica Ltd.
 
39,571
458,182
Origin Energy Ltd.
 
140,693
887,972
Pilbara Minerals Ltd.
 
229,550
584,412
Qantas Airways Ltd. (a)
 
66,101
249,393
QBE Insurance Group Ltd.
 
121,848
1,393,815
Ramsay Health Care Ltd.
 
15,329
513,831
REA Group Ltd.
 
4,334
496,798
Reece Ltd.
 
18,515
328,450
Rio Tinto Ltd.
 
30,247
2,517,287
Rio Tinto PLC
 
91,730
6,206,523
Santos Ltd.
 
265,437
1,302,597
Scentre Group unit
 
418,712
847,913
SEEK Ltd.
 
28,561
441,206
Seven Group Holdings Ltd.
 
13,462
327,115
Sonic Healthcare Ltd.
 
36,748
631,539
South32 Ltd.
 
364,566
831,750
Stockland Corp. Ltd. unit
 
197,976
560,889
Suncorp Group Ltd.
 
103,951
1,110,240
Telstra Group Ltd.
 
332,333
785,174
The GPT Group
 
156,723
421,496
The Lottery Corp. Ltd.
 
179,214
559,057
Transurban Group unit
 
251,559
2,019,632
Treasury Wine Estates Ltd.
 
65,481
507,819
Vicinity Centres unit
 
317,380
388,654
Washington H. Soul Pattinson & Co. Ltd.
 
18,916
395,866
Wesfarmers Ltd.
 
92,258
3,952,261
Westpac Banking Corp.
 
285,181
4,735,814
WiseTech Global Ltd.
 
13,650
804,156
Woodside Energy Group Ltd.
 
154,853
2,774,503
Woolworths Group Ltd.
 
99,530
2,042,069
TOTAL AUSTRALIA
 
 
96,926,147
Austria - 0.1%
 
 
 
Erste Group Bank AG
 
28,061
1,313,762
Mondi PLC
 
2,793
53,258
Mondi PLC
 
32,695
620,573
OMV AG
 
11,936
569,138
Verbund AG
 
5,578
426,223
Voestalpine AG
 
9,108
244,168
TOTAL AUSTRIA
 
 
3,227,122
Belgium - 0.5%
 
 
 
Ageas
 
12,906
594,179
Anheuser-Busch InBev SA NV
 
70,563
4,217,818
D'ieteren Group
 
1,747
378,846
Elia Group SA/NV
 
2,437
234,979
Groupe Bruxelles Lambert SA
 
7,149
532,914
KBC Group NV
 
20,419
1,523,202
Lotus Bakeries SA
 
34
342,166
Sofina SA
 
1,295
305,151
Syensqo SA
 
5,976
556,062
UCB SA
 
10,327
1,372,662
Umicore SA
 
17,436
388,157
Warehouses de Pauw
 
14,551
387,289
Warehouses de Pauw rights (a)(b)
 
14,551
17,392
TOTAL BELGIUM
 
 
10,850,817
Brazil - 1.0%
 
 
 
Ambev SA
 
378,200
884,938
Atacadao SA
 
51,100
109,923
B3 SA - Brasil Bolsa Balcao
 
455,800
947,133
Banco Bradesco SA
 
131,268
312,459
Banco BTG Pactual SA unit
 
95,400
613,635
Banco do Brasil SA
 
140,000
739,283
Banco Santander SA (Brasil) unit
 
29,000
161,403
BB Seguridade Participacoes SA
 
57,100
354,085
Caixa Seguridade Participacoes
 
47,100
142,046
CCR SA
 
84,100
199,698
Centrais Eletricas Brasileiras SA (Electrobras)
 
95,600
697,033
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
 
27,000
420,240
Companhia Siderurgica Nacional SA (CSN)
 
52,100
139,666
Cosan SA
 
101,708
284,013
CPFL Energia SA (a)
 
18,700
114,881
Energisa SA unit
 
20,400
177,183
Eneva SA (a)
 
44,300
105,618
ENGIE Brasil Energia SA
 
16,450
129,570
Equatorial Energia SA
 
84,489
497,731
Hapvida Participacoes e Investimentos SA (a)(c)
 
405,473
288,140
Hypera SA (a)
 
29,800
169,413
Klabin SA unit
 
62,800
278,649
Localiza Rent a Car SA
 
74,194
700,561
Lojas Renner SA
 
75,573
223,113
Magazine Luiza SA (a)
 
302,855
79,321
Natura & Co. Holding SA
 
75,093
239,917
Petroleo Brasileiro SA - Petrobras (ON)
 
303,344
2,585,604
PRIO SA
 
65,100
601,779
Raia Drogasil SA
 
104,724
515,896
Rede D'Oregon Sao Luiz SA (c)
 
48,061
240,647
Rumo SA
 
105,500
409,598
Sendas Distribuidora SA
 
112,000
282,987
Suzano SA
 
64,922
730,913
Telefonica Brasil SA
 
34,100
310,884
TIM SA
 
71,500
242,483
Totvs SA
 
46,600
247,152
Ultrapar Participacoes SA
 
59,400
295,707
Vale SA
 
277,326
3,380,188
Vibra Energia SA
 
94,578
427,300
Weg SA
 
137,060
1,043,932
Wheaton Precious Metals Corp.
 
37,095
1,932,556
Yara International ASA
 
13,489
385,539
TOTAL BRAZIL
 
 
22,642,817
Burkina Faso - 0.0%
 
 
 
Endeavour Mining PLC
 
15,315
325,901
Canada - 7.0%
 
 
 
Agnico Eagle Mines Ltd. (Canada)
 
40,539
2,567,239
Air Canada (a)
 
14,102
208,152
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
62,561
3,467,406
AltaGas Ltd. (d)
 
23,653
518,540
ARC Resources Ltd.
 
49,033
887,947
Bank of Montreal
 
58,657
5,239,568
Bank of Nova Scotia
 
98,791
4,532,481
Barrick Gold Corp. (Canada)
 
143,568
2,386,108
BCE, Inc.
 
5,709
187,570
Brookfield Asset Management Ltd. Class A
 
28,607
1,092,828
Brookfield Corp. (Canada) Class A
 
113,036
4,534,085
CAE, Inc. (a)
 
26,266
506,756
Cameco Corp.
 
35,468
1,618,236
Canadian Apartment Properties (REIT) unit
 
6,910
215,083
Canadian Imperial Bank of Commerce
 
76,830
3,586,312
Canadian National Railway Co.
 
44,381
5,386,715
Canadian Natural Resources Ltd.
 
87,186
6,606,794
Canadian Pacific Kansas City Ltd.
 
75,792
5,945,982
Canadian Tire Ltd. Class A (non-vtg.)
 
4,365
421,677
Canadian Utilities Ltd. Class A (non-vtg.)
 
10,921
244,179
CCL Industries, Inc. Class B
 
12,037
614,681
Cenovus Energy, Inc. (Canada)
 
114,629
2,354,780
CGI, Inc. Class A (sub. vtg.) (a)
 
16,821
1,704,399
Constellation Software, Inc.
 
1,640
4,222,293
Constellation Software, Inc. warrants 3/31/40 (a)(e)
 
1,367
0
Descartes Systems Group, Inc. (Canada) (a)
 
6,905
640,518
Dollarama, Inc.
 
22,868
1,907,646
Element Fleet Management Corp.
 
31,398
501,082
Emera, Inc.
 
23,013
776,155
Empire Co. Ltd. Class A (non-vtg.)
 
11,443
266,572
Enbridge, Inc.
 
172,819
6,144,982
Fairfax Financial Holdings Ltd. (sub. vtg.)
 
1,732
1,883,051
FirstService Corp.
 
3,292
483,523
Fortis, Inc.
 
39,629
1,556,201
Franco-Nevada Corp.
 
15,705
1,890,555
George Weston Ltd.
 
4,930
648,798
Gildan Activewear, Inc.
 
12,577
435,967
Great-West Lifeco, Inc.
 
22,749
672,729
Hydro One Ltd. (c)
 
26,540
743,386
iA Financial Corp., Inc.
 
8,030
486,822
IGM Financial, Inc.
 
6,514
162,820
Imperial Oil Ltd.
 
15,331
1,054,065
Intact Financial Corp.
 
14,484
2,380,630
Ivanhoe Mines Ltd. (a)
 
50,922
690,230
Keyera Corp.
 
18,733
480,623
Kinross Gold Corp.
 
99,666
642,890
Loblaw Companies Ltd.
 
12,715
1,394,295
Magna International, Inc. Class A (sub. vtg.)
 
22,261
1,064,013
Manulife Financial Corp.
 
147,003
3,428,806
MEG Energy Corp. (a)
 
22,734
517,053
Metro, Inc.
 
18,501
946,385
National Bank of Canada
 
27,542
2,211,523
Northland Power, Inc.
 
21,067
321,518
Nutrien Ltd.
 
40,409
2,130,744
Onex Corp. (sub. vtg.)
 
5,308
376,590
Open Text Corp.
 
21,914
773,791
Pan American Silver Corp.
 
29,677
547,342
Parkland Corp.
 
11,661
359,237
Pembina Pipeline Corp.
 
47,168
1,659,694
Power Corp. of Canada (sub. vtg.)
 
46,319
1,234,142
Quebecor, Inc. Class B (sub. vtg.)
 
13,289
275,018
RB Global, Inc.
 
14,869
1,064,323
Restaurant Brands International, Inc.
 
21,320
1,617,449
Restaurant Brands International, Inc.
 
2,900
219,965
RioCan (REIT)
 
11,477
145,396
Rogers Communications, Inc. Class B (non-vtg.)
 
29,326
1,098,567
Royal Bank of Canada
 
114,187
11,047,519
Saputo, Inc.
 
21,061
404,957
Shopify, Inc. Class A (a)
 
98,192
6,893,732
Stantec, Inc.
 
9,316
741,748
Sun Life Financial, Inc.
 
47,456
2,423,043
Suncor Energy, Inc.
 
105,169
4,013,023
TC Energy Corp.
 
84,514
3,027,807
Teck Resources Ltd. Class B (sub. vtg.)
 
37,612
1,849,385
TELUS Corp.
 
39,626
636,422
TFI International, Inc. (Canada)
 
6,553
853,392
The Toronto-Dominion Bank
 
144,260
8,558,250
Thomson Reuters Corp.
 
12,883
1,945,856
TMX Group Ltd.
 
22,311
590,735
Toromont Industries Ltd.
 
6,753
618,079
Tourmaline Oil Corp.
 
27,306
1,334,506
West Fraser Timber Co. Ltd.
 
4,526
346,654
WSP Global, Inc.
 
10,148
1,539,836
TOTAL CANADA
 
 
151,709,851
Chile - 0.2%
 
 
 
Antofagasta PLC
 
32,284
891,524
Banco de Chile
 
3,776,359
418,918
Banco de Credito e Inversiones
 
5,970
174,122
Banco Santander Chile
 
5,839,052
264,568
Cencosud SA
 
101,131
173,294
Compania Sud Americana de Vapores SA
 
1,221,150
95,270
Empresas CMPC SA
 
88,074
173,937
Empresas COPEC SA
 
30,358
216,637
Enel Americas SA
 
1,669,005
156,461
Enel Chile SA
 
2,237,870
132,867
Falabella SA (a)
 
68,066
182,209
LATAM Airlines Group SA
 
14,061,837
190,264
Lundin Mining Corp.
 
53,968
616,262
TOTAL CHILE
 
 
3,686,333
China - 7.4%
 
 
 
360 Security Technology, Inc. (A Shares) (a)
 
34,900
40,836
37 Interactive Entertainment Network Technology Group Co. Ltd. (A Shares)
 
8,800
20,215
AAC Technology Holdings, Inc.
 
56,500
179,819
Accelink Technologies Co. Ltd. (A Shares) (a)
 
4,200
21,532
ACM Research Shanghai, Inc. (A Shares) (a)
 
1,252
14,100
Advanced Micro-Fabrication Equipment, Inc., China (A Shares)
 
2,655
51,622
AECC Aero-Engine Control Co. Ltd. (A Shares)
 
7,300
19,669
AECC Aviation Power Co. Ltd.
 
12,100
58,972
Agricultural Bank of China Ltd.:
 
 
 
 (A Shares)
 
392,900
238,489
 (H Shares)
 
2,310,000
1,030,054
Aier Eye Hospital Group Co. Ltd. (A Shares)
 
44,695
79,384
AIMA Technology Group Co. Ltd.
 
5,300
25,719
Air China Ltd.:
 
 
 
 (A Shares) (a)
 
74,000
75,252
 (H Shares) (a)
 
92,000
46,125
Airtac International Group
 
11,278
398,597
Akeso, Inc. (a)(c)
 
40,000
244,765
Alibaba Group Holding Ltd.
 
1,326,144
12,416,772
Alibaba Health Information Technology Ltd. (a)
 
450,000
167,976
Aluminum Corp. of China Ltd.:
 
 
 
 (A shares)
 
88,000
89,850
 (H Shares)
 
270,000
179,068
Amlogic Shanghai Co. Ltd. (A Shares)
 
2,262
17,984
Angel Yeast Co. Ltd. (A Shares)
 
3,600
14,781
Anhui Conch Cement Co. Ltd.:
 
 
 
 (A Shares)
 
5,600
17,739
 (H Shares)
 
120,000
278,408
Anhui Gujing Distillery Co. Ltd.:
 
 
 
 (A Shares)
 
1,900
71,011
 (B Shares)
 
13,400
219,641
Anhui Jianghuai Automobile Group Corp. Ltd. (A Shares) (a)
 
9,700
20,877
Anhui Kouzi Distillery Co. Ltd. (A Shares)
 
2,300
13,226
Anhui Yingjia Distillery Co. Ltd. (A Shares)
 
3,600
35,202
Anjoy Foods Group Co. Ltd. (A Shares)
 
1,600
20,317
Anker Innovations Technology Co. Ltd. (A Shares) (a)
 
1,700
20,197
Anta Sports Products Ltd.
 
103,200
1,168,326
Asia - Potash International Investment Guangzhou Co. Ltd. (A Shares) (a)
 
5,000
12,251
ASR Microelectronics Co. Ltd. (A Shares)
 
1,602
9,024
Asymchem Laboratories Tianjin Co. Ltd. (A Shares)
 
1,760
20,026
Autobio Diagnostics Co. Ltd.
 
3,300
25,914
Autohome, Inc. ADR Class A
 
5,417
139,217
Avary Holding Shenzhen Co. Ltd. (A Shares)
 
7,400
24,550
AVIC Capital Co. Ltd. (A Shares)
 
32,600
13,353
AviChina Industry & Technology Co. Ltd. (H Shares)
 
187,000
80,424
Avicopter PLC (A Shares)
 
3,500
20,090
BAIC BluePark New Energy Technology Co. Ltd. (A Shares) (a)
 
25,000
23,400
Baidu, Inc. Class A (a)
 
184,492
2,390,202
Bank of Beijing Co. Ltd. (A Shares)
 
103,500
79,676
Bank of Changsha Co. Ltd. (A Shares)
 
20,100
22,615
Bank of Chengdu Co. Ltd. (A Shares)
 
15,200
31,011
Bank of China Ltd.:
 
 
 
 (A Shares)
 
495,300
313,393
 (H Shares)
 
6,025,000
2,702,155
Bank of Communications Co. Ltd.:
 
 
 
 (A Shares)
 
138,700
131,562
 (H Shares)
 
868,000
625,011
Bank of Hangzhou Co. Ltd. (A Shares)
 
25,700
45,760
Bank of Jiangsu Co. Ltd. (A Shares)
 
87,360
97,394
Bank of Nanjing Co. Ltd. (A Shares)
 
47,200
60,714
Bank of Ningbo Co. Ltd. (A Shares)
 
32,080
101,296
Bank of Shanghai Co. Ltd. (A Shares)
 
61,818
62,282
Bank of Suzhou Co. Ltd.
 
15,800
16,451
Baoshan Iron & Steel Co. Ltd. (A Shares)
 
106,100
101,612
BeiGene Ltd. (a)
 
55,177
654,543
Beijing Dabeinong Technology Group Co. Ltd. (A Shares)
 
22,300
14,410
Beijing Enlight Media Co. Ltd. (A Shares)
 
13,000
16,755
Beijing Enterprises Holdings Ltd.
 
48,000
153,674
Beijing Enterprises Water Group Ltd.
 
326,000
82,221
Beijing Kingsoft Office Software, Inc. (A Shares)
 
2,279
96,533
Beijing New Building Materials PLC (A Shares)
 
9,000
40,644
Beijing Oriental Yuhong Waterproof Technology Co. Ltd. (A Shares)
 
5,800
11,698
Beijing Roborock Technology Co. Ltd. (A Shares)
 
530
30,966
Beijing Tiantan Biological Products Corp. Ltd. (A Shares)
 
6,700
26,533
Beijing Tongrentang Co. Ltd. (A Shares)
 
6,300
36,740
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. (A Shares)
 
4,256
39,985
Beijing Yanjing Brewery Co. Ltd. (A Shares)
 
11,400
15,558
Beijing-Shanghai High Speed Railway Co. Ltd. (A Shares)
 
230,500
161,566
Beiqi Foton Motor Co. Ltd. (A Shares) (a)
 
37,700
13,636
Bethel Automotive Safety Systems Co. Ltd. (A Shares)
 
1,700
13,467
Bilibili, Inc. Class Z (a)
 
18,706
237,532
Bloomage Biotechnology Corp. Ltd. (A Shares)
 
1,779
15,064
BOC Aviation Ltd. Class A (c)
 
16,900
134,418
BOC Hong Kong (Holdings) Ltd.
 
298,500
914,930
BOC International China Co. Ltd.
 
9,900
13,991
BOE Technology Group Co. Ltd. (A Shares)
 
179,100
107,507
Bosideng International Holdings Ltd.
 
342,000
197,973
Brilliance China Automotive Holdings Ltd.
 
238,000
197,632
By-Health Co. Ltd. (A Shares)
 
8,700
18,978
BYD Co. Ltd.:
 
 
 
 (A Shares)
 
12,300
369,292
 (H Shares)
 
81,500
2,234,126
BYD Electronic International Co. Ltd.
 
66,500
224,024
C&D International Investment Group Ltd.
 
54,961
108,873
Caitong Securities Co. Ltd.
 
22,200
23,411
Cambricon Technologies Corp. Ltd. (A Shares) (a)
 
2,134
49,246
Canmax Technologies Co. Ltd. (A Shares)
 
3,120
9,075
Cathay Biotech, Inc. (A Shares) (a)
 
2,616
18,476
CECEP Solar Energy Co. Ltd. (A Shares)
 
16,700
11,878
CGN Power Co. Ltd.:
 
 
 
 (A Shares) (a)
 
18,600
10,547
 (H Shares) (c)
 
1,038,000
348,050
Changchun High & New Technology Industry Group, Inc. (A Shares)
 
1,800
27,985
Changjiang Securities Co. Ltd. (A Shares)
 
27,600
21,548
Changzhou Xingyu Automotive Lighting Systems Co. Ltd. (A Shares)
 
1,400
25,576
Chaozhou Three-Circle Group Co. (A Shares)
 
8,300
31,864
Chengxin Lithium Group Co. Ltd. (A Shares)
 
3,200
7,908
Chifeng Jilong Gold Mining Co. Ltd. (A Shares) (a)
 
6,500
15,948
China Baoan Group Co. Ltd. (A Shares)
 
12,900
18,683
China Cinda Asset Management Co. Ltd. (H Shares)
 
759,000
68,399
China CITIC Bank Corp. Ltd.:
 
 
 
 (A Shares)
 
67,800
64,277
 (H Shares)
 
624,000
365,061
China Coal Energy Co. Ltd. (H Shares)
 
164,000
165,204
China Communications Services Corp. Ltd. (H Shares)
 
178,000
85,092
China Construction Bank Corp.:
 
 
 
 (A Shares)
 
291,400
286,156
 (H Shares)
 
7,475,000
4,836,258
China CSSC Holdings Ltd. (A Shares)
 
21,700
109,039
China Eastern Airlines Corp. Ltd. (A Shares) (a)
 
82,200
43,489
China Energy Engineering Corp. Ltd. (A Shares)
 
137,600
41,725
China Everbright Bank Co. Ltd.:
 
 
 
 (A Shares)
 
99,400
43,223
 (H Shares)
 
423,000
128,150
China Feihe Ltd. (c)
 
275,000
150,388
China Film Co. Ltd. (A Shares) (a)
 
8,400
13,764
China Galaxy Securities Co. Ltd.:
 
 
 
 (A Shares)
 
31,200
53,359
 (H Shares)
 
269,000
145,708
China Gas Holdings Ltd.
 
216,000
202,248
China Great Wall Securities Co. Ltd. (A Shares)
 
14,800
15,604
China Greatwall Technology Group Co. Ltd. (A Shares)
 
12,600
16,897
China Hongqiao Group Ltd.
 
206,500
284,945
China International Capital Corp. Ltd.
 
2,100
9,633
China International Capital Corp. Ltd. (H Shares) (c)
 
164,800
198,724
China Jushi Co. Ltd. (A Shares)
 
19,415
31,913
China Life Insurance Co. Ltd.:
 
 
 
 (A Shares)
 
6,600
27,817
 (H Shares)
 
627,000
825,711
China Literature Ltd. (a)(c)
 
32,200
115,020
China Longyuan Power Grid Corp. Ltd. (H Shares)
 
260,000
182,139
China Medical System Holdings Ltd.
 
108,000
96,428
China Mengniu Dairy Co. Ltd.
 
259,000
536,513
China Merchants Bank Co. Ltd.:
 
 
 
 (A Shares)
 
79,600
375,584
 (H Shares)
 
354,000
1,533,124
China Merchants Energy Shipping Co. Ltd. (A Shares)
 
40,500
47,638
China Merchants Expressway Network & Technology Holdings Co. Ltd. (A Shares) (a)
 
16,100
24,602
China Merchants Holdings International Co. Ltd.
 
99,219
131,030
China Merchants Securities Co. Ltd. (A Shares)
 
36,750
74,024
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares)
 
45,900
53,476
China Minmetals Rare Earth Co. Ltd. (A Shares)
 
3,800
14,677
China Minsheng Banking Corp. Ltd.:
 
 
 
 (A Shares)
 
45,200
24,646
 (H Shares)
 
735,900
269,252
China National Building Materials Co. Ltd. (H Shares)
 
295,000
114,147
China National Chemical Engineering Co. Ltd. (A Shares)
 
31,300
29,724
China National Medicines Corp. Ltd. (A Shares)
 
2,700
12,939
China National Nuclear Power Co. Ltd. (A Shares)
 
91,100
116,146
China National Software & Service Co. Ltd. (A Shares)
 
3,380
14,070
China Northern Rare Earth Group High-Tech Co. Ltd.
 
17,000
45,179
China Oilfield Services Ltd. (H Shares)
 
142,000
151,842
China Overseas Land and Investment Ltd.
 
324,500
596,714
China Overseas Property Holdings Ltd.
 
100,000
60,824
China Pacific Insurance (Group) Co. Ltd.
 
33,300
118,032
China Pacific Insurance (Group) Co. Ltd. (H Shares)
 
216,200
473,711
China Petroleum & Chemical Corp.:
 
 
 
 (A Shares)
 
183,700
160,645
 (H Shares)
 
1,966,000
1,173,509
China Power International Development Ltd.
 
386,805
156,090
China Railway Group Ltd.:
 
 
 
 (A Shares)
 
102,100
92,222
 (H Shares)
 
373,000
184,060
China Railway Signal & Communications Corp. (A Shares)
 
29,107
21,677
China Resource Gas Group Ltd.
 
78,500
246,723
China Resources Beer Holdings Co. Ltd.
 
132,000
601,664
China Resources Land Ltd.
 
260,500
936,716
China Resources Microelectronics Ltd. (A Shares)
 
5,701
28,626
China Resources Mixc Lifestyle Services Ltd. (c)
 
54,000
190,067
China Resources Pharmaceutical Group Ltd. (c)
 
118,000
76,306
China Resources Power Holdings Co. Ltd.
 
166,000
412,818
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares)
 
4,000
33,101
China Ruyi Holdings Ltd. (a)
 
428,000
107,202
China Shenhua Energy Co. Ltd.:
 
 
 
 (A Shares)
 
25,900
142,265
 (H Shares)
 
286,000
1,187,035
China Southern Airlines Ltd.:
 
 
 
 (A Shares) (a)
 
11,600
9,061
 (H Shares) (a)
 
112,000
40,496
China State Construction Engineering Corp. Ltd. (A Shares)
 
196,800
145,370
China State Construction International Holdings Ltd.
 
160,000
168,816
China Taiping Insurance Group Ltd.
 
114,000
104,232
China Three Gorges Renewables Group Co. Ltd. (A Shares)
 
141,700
91,629
China Tourism Group Duty Free Corp. Ltd.:
 
 
 
 (A Shares)
 
11,100
113,891
 (H Shares) (c)
 
6,100
53,718
China Tower Corp. Ltd. (H Shares) (c)
 
3,606,000
422,116
China United Network Communications Ltd. (A Shares)
 
151,000
97,385
China Vanke Co. Ltd.:
 
 
 
 (A Shares)
 
10,100
10,281
 (H Shares)
 
280,300
164,392
China XD Electric Co. Ltd. (A Shares) (a)
 
25,600
24,835
China Yangtze Power Co. Ltd. (A Shares)
 
151,100
537,612
China Zhenhua (Group) Science & Technology Co. Ltd. (A Shares)
 
2,600
16,714
China Zheshang Bank Co. Ltd.
 
109,300
45,190
Chongqing Brewery Co. Ltd. (A Shares)
 
2,800
27,135
Chongqing Changan Automobile Co. Ltd. (A Shares)
 
40,488
81,888
Chongqing Rural Commercial Bank Co. Ltd. (H Shares)
 
63,000
26,966
Chongqing Taiji Industry Group Co. Ltd. (A Shares) (a)
 
3,100
15,509
Chongqing Zhifei Biological Products Co. Ltd. (A Shares)
 
11,650
56,269
Chow Tai Fook Jewellery Group Ltd.
 
172,000
234,032
CITIC Pacific Ltd.
 
485,000
459,005
CITIC Securities Co. Ltd.:
 
 
 
 (A Shares)
 
53,525
139,537
 (H Shares)
 
198,725
316,393
Cmoc Group Ltd.:
 
 
 
 (A Shares)
 
48,200
59,267
 (H Shares)
 
372,000
349,014
CNGR Advanced Material Co. Ltd.
 
3,300
23,812
CNPC Capital Co. Ltd. (A Shares) (a)
 
34,400
27,784
Contemporary Amperex Technology Co. Ltd.
 
22,480
628,770
COSCO Shipping Development Co. Ltd. (A Shares)
 
37,900
12,850
COSCO Shipping Energy Transportation Co. Ltd.:
 
 
 
 (A Shares)
 
57,200
125,872
 (H Shares)
 
16,000
18,764
COSCO SHIPPING Holdings Co. Ltd.:
 
 
 
 (A Shares)
 
59,870
96,537
 (H Shares)
 
245,550
317,701
Cosco Shipping Ports Ltd.
 
101,757
62,444
Country Garden Holdings Co. Ltd. (a)
 
1,001,784
63,713
Country Garden Services Holdings Co. Ltd.
 
173,000
115,415
CRRC Corp. Ltd.:
 
 
 
 (A Shares)
 
98,400
94,747
 (H Shares)
 
429,000
236,805
CSC Financial Co. Ltd. (A Shares)
 
19,500
59,861
CSPC Innovation Pharmaceutical Co. Ltd. (A Shares)
 
6,120
28,953
CSPC Pharmaceutical Group Ltd.
 
745,760
612,368
CSSC Science & Technology Co. Ltd. (a)
 
6,700
14,685
Daqin Railway Co. Ltd. (A Shares)
 
73,000
69,205
DaShenLin Pharmaceutical Group Co. Ltd.
 
5,232
15,695
Datang International Power Generation Co. Ltd. (A Shares)
 
63,300
26,301
Dong-E-E-Jiao Co. Ltd. (A Shares)
 
3,400
32,192
Dongfang Electric Corp. Ltd. (A Shares)
 
11,400
26,489
Dongfeng Motor Group Co. Ltd. (H Shares)
 
168,000
60,924
Dongxing Securities Co. Ltd. (A Shares)
 
15,200
18,441
East Buy Holding Ltd. (a)(c)
 
36,000
76,111
East Money Information Co. Ltd. (A Shares)
 
75,740
135,864
Eastroc Beverage Group Co. Ltd. (a)
 
1,200
35,213
Ecovacs Robotics Co. Ltd. Class A
 
2,300
15,681
Empyrean Technology Co. Ltd. (A Shares) (a)
 
1,600
17,253
ENN Energy Holdings Ltd.
 
64,300
547,861
ENN Natural Gas Co. Ltd. (A Shares)
 
13,300
33,137
Eoptolink Technology, Inc. Ltd. (A Shares)
 
3,700
43,401
ESR Group Ltd. (c)
 
134,200
147,066
Eve Energy Co. Ltd. (A shares)
 
8,771
44,734
Everbright Securities Co. Ltd. (A Shares)
 
18,900
43,032
Everdisplay Optronics Shanghai Co. Ltd. (A Shares) (a)
 
54,746
16,725
Fangda Carbon New Material Co. Ltd. (A Shares) (a)
 
23,140
16,166
Far East Horizon Ltd.
 
155,000
115,058
FAW Jiefang Group Co. Ltd. (A Shares) (a)
 
12,800
15,848
First Capital Securities Co. Ltd. (A Shares)
 
14,400
11,376
Flat Glass Group Co. Ltd.
 
22,000
52,993
Flat Glass Group Co. Ltd. (A Shares)
 
14,400
52,699
Focus Media Information Technology Co. Ltd. (A Shares)
 
71,800
64,270
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares)
 
22,192
119,858
Fosun International Ltd.
 
198,000
116,818
Founder Securities Co. Ltd. (A Shares)
 
36,400
44,976
Foxconn Industrial Internet Co. Ltd. (A Shares)
 
62,000
204,862
Fujian Sunner Development Co. Ltd. A Shares
 
7,200
15,535
Fuyao Glass Industries Group Co. Ltd.:
 
 
 
 (A Shares)
 
4,200
28,878
 (H Shares) (c)
 
59,600
356,829
GalaxyCore, Inc. (A Shares)
 
6,414
14,627
Ganfeng Lithium Group Co. Ltd.:
 
 
 
 (A Shares)
 
9,760
47,321
 (H Shares) (c)
 
28,260
82,872
GCL Technology Holdings Ltd.
 
1,794,000
265,715
GD Power Development Co. Ltd. (A Shares)
 
78,300
55,334
Geely Automobile Holdings Ltd.
 
502,000
604,186
GEM Co. Ltd. (A Shares)
 
24,900
23,869
Genscript Biotech Corp. (a)
 
92,000
135,670
GF Securities Co. Ltd.:
 
 
 
 (A Shares)
 
27,300
49,644
 (H Shares)
 
82,200
81,891
Giant Biogene Holding Co. Ltd. (c)
 
23,800
145,007
Giant Network Group Co. Ltd. (A Shares)
 
7,800
12,609
Gigadevice Semiconductor Beijing, Inc. (A Shares)
 
3,240
34,950
Ginlong Technologies Co. Ltd. (A Shares)
 
1,350
9,940
GoerTek, Inc. (A Shares)
 
16,100
34,961
Goldwind Science & Technology Co. Ltd. (H Shares)
 
50,216
20,079
Goneo Group Co. Ltd. (A Shares)
 
2,000
32,940
GoodWe Technologies Co. Ltd. (A Shares)
 
662
8,466
Gotion High-tech Co. Ltd. (A Shares) (a)
 
7,000
18,069
Great Wall Motor Co. Ltd.:
 
 
 
 (A Shares)
 
8,300
29,937
 (H Shares)
 
191,000
288,628
Gree Electric Appliances, Inc. of Zhuhai (A Shares)
 
13,300
77,161
Greenland Holdings Corp. Ltd. (A Shares) (a)
 
46,000
11,651
GRG Banking Equipment Co. Ltd. (A Shares)
 
10,900
17,863
Guangdong Haid Group Co. Ltd. (A Shares)
 
8,000
55,047
Guangdong HEC Technology Holding Co. Ltd. (A Shares) (a)
 
12,600
15,393
Guangdong Investment Ltd.
 
230,000
120,144
Guanghui Energy Co. Ltd. (A Shares)
 
30,500
31,006
Guangzhou Automobile Group Co. Ltd.
 
37,700
45,558
Guangzhou Automobile Group Co. Ltd. (H Shares)
 
194,000
80,146
Guangzhou Baiyun International Airport Co. Ltd. (A Shares) (a)
 
8,900
12,692
Guangzhou Baiyunshan Pharma Health (A Shares)
 
7,200
31,810
Guangzhou Haige Communications Group (A Shares)
 
11,300
16,958
Guangzhou Kingmed Diagnostics Group Co. Ltd. (A Shares)
 
1,900
10,039
Guangzhou Shiyuan Electronic Technology Co. Ltd. (A Shares)
 
2,600
11,972
Guangzhou Tinci Materials Technology Co. Ltd. (A Shares)
 
8,160
23,572
Guangzhou Yuexiu Financial Holdings Group Co. Ltd. (A Shares)
 
23,676
18,859
Guolian Securities Co. Ltd. (a)(e)
 
11,900
17,190
Guosen Securities Co. Ltd. (A Shares)
 
26,300
32,519
Guotai Junan Securities Co. Ltd. (H Shares) (c)
 
64,800
68,886
Guoyuan Securities Co. Ltd. (A Shares)
 
23,710
22,248
H World Group Ltd. ADR
 
16,891
620,069
Haidilao International Holding Ltd. (c)
 
140,000
315,869
Haier Smart Home Co. Ltd.
 
197,000
729,693
Haier Smart Home Co. Ltd. (A Shares)
 
33,800
140,619
Hainan Airlines Co. Ltd. (A Shares) (a)
 
205,600
38,785
Hainan Airport Infrastructure Co. Ltd. (A Shares) (a)
 
62,700
30,240
Haitian International Holdings Ltd.
 
49,000
159,586
Haitong Securities Co. Ltd.:
 
 
 
 (A Shares)
 
8,400
9,685
 (H Shares)
 
328,400
156,851
Hangzhou Binjiang Real Estate Group Co. Ltd. (A Shares)
 
12,200
11,287
Hangzhou Chang Chuan Technology Co. Ltd.
 
2,300
9,235
Hangzhou First Applied Material Co. Ltd. (A Shares)
 
8,116
30,348
Hangzhou Greatstar Industrial Co. Ltd. (A Shares)
 
5,400
18,819
Hangzhou Oxygen Plant Group Co. Ltd. (A Shares)
 
3,800
14,295
Hangzhou Robam Appliances Co. Ltd. (A Shares)
 
3,100
10,099
Hangzhou Silan Microelectronics Co. Ltd. (A Shares)
 
7,300
19,234
Hangzhou Tigermed Consulting Co. Ltd. (A Shares)
 
500
4,061
Hansoh Pharmaceutical Group Co. Ltd. (c)
 
92,000
203,292
Haohua Chemical Science & Technology Co. Ltd. (A Shares)
 
2,900
12,416
Hebei Yangyuan Zhihui Beverage Co. Ltd. (A Shares) (a)
 
4,800
17,381
Heilongjiang Agriculture Co. Ltd. (A Shares)
 
10,400
18,766
Henan Shenhuo Coal & Power Co. Ltd. (A Shares)
 
11,600
34,620
Henan Shuanghui Investment & Development Co. Ltd. (A Shares)
 
17,100
63,586
Hengan International Group Co. Ltd.
 
50,500
169,537
Hengdian Group DMEGC Magnetics Co. Ltd. (A Shares)
 
6,600
13,085
Hengli Petrochemical Co. Ltd. (A Shares) (a)
 
30,700
65,547
Hengtong Optic-electric Co. Ltd. (A Shares)
 
9,100
17,716
Hengyi Petrochemical Co. Ltd. (A Shares) (a)
 
20,200
20,863
Hesteel Co. Ltd. (A Shares)
 
30,300
9,142
Hisense Electric Co. Ltd.
 
5,700
21,915
Hithink RoyalFlush Information Network Co. Ltd. (A Shares)
 
2,500
41,463
HLA Group Corp. Ltd. (A Shares) (a)
 
19,100
23,987
Hongfa Technology Co. Ltd. (A Shares)
 
2,660
10,461
Hoshine Silicon Industry Co. Ltd. (A Shares)
 
4,200
27,973
Hoymiles Power Electronics, Inc. (A Shares)
 
326
10,179
Hua Hong Semiconductor Ltd. (c)
 
44,000
86,711
Huadian Power International Corp. Ltd.:
 
 
 
 (A Shares)
 
23,100
21,533
 (H Shares)
 
26,000
14,197
Huadong Medicine Co. Ltd. (A Shares)
 
7,600
34,524
Huafon Chemical Co. Ltd. (A Shares)
 
22,600
25,342
Huagong Tech Co. Ltd. (A Shares) (a)
 
3,800
17,388
Huaibei Mining Holdings Co. Ltd. (A Shares)
 
12,200
32,455
Hualan Biological Engineer, Inc. (A Shares)
 
7,410
19,893
Huaneng Power International, Inc.:
 
 
 
 (A Shares) (a)
 
61,600
79,491
 (H Shares) (a)
 
334,000
212,592
Huatai Securities Co. Ltd.:
 
 
 
 (A Shares)
 
26,000
49,171
 (H Shares) (c)
 
117,800
139,313
Huaxia Bank Co. Ltd. (A Shares)
 
61,200
56,643
Huayu Automotive Systems Co. Ltd. (A Shares)
 
14,200
32,242
Hubei Jumpcan Pharmaceutical Co. Ltd. (A Shares)
 
3,700
20,985
Huizhou Desay SV Automotive Co. Ltd.
 
2,900
50,087
Humanwell Healthcare Group Co. Ltd. (A Shares)
 
8,000
22,308
Hunan Valin Steel Co. Ltd. (A Shares)
 
31,000
22,306
Hundsun Technologies, Inc. (A Shares)
 
7,808
22,059
Hwatsing Technology Co. Ltd. (A Shares)
 
743
17,424
Hygeia Healthcare Holdings Co. (c)
 
26,400
108,964
Hygon Information Technology Co. Ltd. (A Shares)
 
9,347
100,519
IEIT Systems Co. Ltd. (A Shares)
 
7,145
39,846
iFlytek Co. Ltd. (A Shares)
 
11,400
70,476
IMEIK Technology Development Co. Ltd. (A Shares)
 
1,400
41,413
Industrial & Commercial Bank of China Ltd.:
 
 
 
 (A Shares)
 
847,100
634,528
 (H Shares)
 
4,531,000
2,429,652
Industrial Bank Co. Ltd. (A Shares)
 
97,100
225,542
Industrial Securities Co. Ltd. (A Shares)
 
38,270
29,403
Ingenic Semiconductor Co. Ltd. (A Shares)
 
1,900
16,550
Inner Mongoli Yili Industries Co. Ltd. (A Shares)
 
30,200
119,015
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) (a)
 
231,700
51,019
Inner Mongolia Dian Tou Energy Corp. Ltd.
 
10,700
31,097
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. (A Shares)
 
41,800
24,259
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)
 
83,500
162,284
Inner Mongolia Yuan Xing Energy Co. Ltd. (A Shares)
 
14,600
14,439
Innovent Biologics, Inc. (a)(c)
 
98,500
476,835
iQIYI, Inc. ADR (a)
 
34,800
168,780
iRay Technology Co. Ltd. (A Shares)
 
410
11,233
iSoftStone Information Technology Group Co. Ltd. (A Shares)
 
3,750
21,590
JA Solar Technology Co. Ltd. (A Shares)
 
17,276
33,881
Jason Furniture Hangzhou Co. Ltd. (A Shares)
 
3,120
14,363
JCET Group Co. Ltd. (A Shares)
 
9,700
34,198
JD Health International, Inc. (a)(c)
 
94,100
320,959
JD Logistics, Inc. (a)(c)
 
159,300
172,414
JD.com, Inc. Class A
 
191,323
2,756,653
Jiangsu Eastern Shenghong Co. Ltd.
 
30,100
41,135
Jiangsu Expressway Co. Ltd. (H Shares)
 
92,000
90,226
Jiangsu Hengli Hydraulic Co. Ltd.
 
5,676
39,959
Jiangsu Hengrui Medicine Co. Ltd. (A Shares)
 
30,032
190,712
Jiangsu King's Luck Brewery JSC Ltd. (A Shares)
 
6,500
51,404
Jiangsu Nhwa Pharmaceutical Co. Ltd. (A Shares) (a)
 
6,100
21,028
Jiangsu Pacific Quartz Co. Ltd. (A Shares)
 
1,900
20,508
Jiangsu Phoenix Publishing & Media Corp. Ltd. (a)
 
13,500
18,964
Jiangsu Yanghe Brewery JSC Ltd. (A Shares)
 
7,300
95,561
Jiangsu Yangnong Chemical Co. Ltd. (A Shares)
 
1,430
12,693
Jiangsu Yoke Technology Co. Ltd. (A Shares)
 
2,200
19,354
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. (A Shares)
 
4,700
25,064
Jiangsu Zhongtian Technology Co. Ltd. (A Shares)
 
15,900
29,667
Jiangxi Copper Co. Ltd.:
 
 
 
 (A Shares)
 
9,800
35,139
 (H Shares)
 
88,000
179,224
Jiangxi Special Electric Motor Co. Ltd. (A Shares) (a)
 
5,700
7,629
Jinduicheng Molybdenum Co. Ltd. (A Shares)
 
12,400
19,399
Jinko Solar Co. Ltd. (A Shares)
 
40,888
42,499
JiuGui Liquor Co. Ltd. (A Shares)
 
1,200
8,436
Jizhong Energy Resources Co. Ltd. (A Shares)
 
20,600
21,305
Joincare Pharmaceutical Group Industry Co. Ltd. (A Shares)
 
6,300
10,555
Jointown Pharmaceutical Group (A Shares)
 
15,019
16,994
Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd. (A Shares) (a)
 
2,700
10,980
Juneyao Airlines Co. Ltd. (A shares) (a)
 
8,100
13,733
Kangmei Pharmaceutical Co. Ltd. rights (a)(e)
 
751
0
Kanzhun Ltd. ADR
 
18,253
361,227
KE Holdings, Inc. ADR
 
53,332
806,380
Keda Industrial Group Co. Ltd.
 
6,400
8,917
Kingboard Chemical Holdings Ltd.
 
52,500
115,383
Kingdee International Software Group Co. Ltd. (a)
 
229,000
241,601
Kingnet Network Co. Ltd. (A Shares)
 
7,200
11,667
Kingsoft Corp. Ltd.
 
74,600
242,374
Kuaishou Technology Class B (a)(c)
 
192,700
1,350,964
Kuang-Chi Technologies Co. Ltd. (A Shares) (a)
 
10,200
27,482
Kunlun Energy Co. Ltd.
 
334,000
323,773
Kunlun Tech Co. Ltd. (A Shares) (a)
 
6,500
35,480
Kweichow Moutai Co. Ltd. (A Shares)
 
6,500
1,524,030
Lb Group Co. Ltd. (A Shares)
 
12,900
37,295
Lenovo Group Ltd.
 
650,000
731,094
Lens Technology Co. Ltd. (A Shares)
 
26,400
51,895
Lepu Medical Technology Beijing Co. Ltd. (A Shares)
 
7,000
14,145
Li Auto, Inc. Class A (a)
 
93,698
1,227,622
Li Ning Co. Ltd.
 
191,500
501,322
Liaoning Port Co. Ltd. (A Shares)
 
69,500
13,809
Lingyi iTech Guangdong Co. (A Shares)
 
30,900
22,098
Livzon Pharmaceutical Group, Inc. (A Shares)
 
2,000
11,062
Longfor Properties Co. Ltd. (c)
 
154,797
229,277
LONGi Green Energy Technology Co. Ltd.
 
37,252
93,282
Luxshare Precision Industry Co. Ltd. (A Shares)
 
33,693
135,059
Luzhou Laojiao Co. Ltd. (A Shares)
 
6,900
176,619
Mango Excellent Media Co. Ltd. (A Shares)
 
10,000
32,197
Maxscend Microelectronics Co. Ltd. (A Shares)
 
2,324
28,957
Meihua Holdings Group Co. Ltd. (A Shares)
 
10,200
15,621
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) (a)
 
16,500
10,064
Meituan Class B (a)(c)
 
413,980
5,652,703
Metallurgical Corp. China Ltd. (A Shares)
 
82,500
37,159
MGI Tech Co. Ltd. (A Shares)
 
2,134
17,167
Midea Group Co. Ltd. (A Shares)
 
16,500
158,693
Ming Yang Smart Energy Group Ltd. (A Shares)
 
12,000
16,162
MINISO Group Holding Ltd.
 
30,312
170,992
Montage Technology Co. Ltd. (A Shares)
 
5,827
40,470
Muyuan Foodstuff Co. Ltd. (A Shares)
 
25,640
154,178
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd.
 
6,501
12,269
Nanjing Securities Co. Ltd. (A Shares)
 
14,200
16,035
NARI Technology Co. Ltd. (A Shares)
 
39,080
126,400
National Silicon Industry Group Co. Ltd. (A Shares) (a)
 
10,561
19,274
NAURA Technology Group Co. Ltd.
 
2,600
113,854
NetEase, Inc.
 
157,890
2,959,591
New China Life Insurance Co. Ltd.
 
19,900
86,058
New China Life Insurance Co. Ltd. (H Shares)
 
42,500
81,505
New Hope Liuhe Co. Ltd. (A Shares) (a)
 
22,500
27,663
New Oriental Education & Technology Group, Inc. (a)
 
121,290
963,766
Ninestar Corp. (A Shares)
 
5,400
18,788
Ningbo Deye Technology Co. Ltd. (A Shares)
 
1,760
22,648
Ningbo Joyson Electronic Corp. (A shares)
 
6,800
16,436
Ningbo Orient Wires & Cables Co. Ltd. (A Shares)
 
4,200
25,533
Ningbo Sanxing Medical Electric Co. Ltd. (a)
 
7,500
34,626
Ningbo Shanshan Co. Ltd. (A Shares)
 
11,900
19,401
Ningbo Tuopu Group Co. Ltd. (A Shares)
 
5,900
50,770
Ningxia Baofeng Energy Group Co. Ltd.
 
35,700
81,607
NIO, Inc. sponsored ADR (a)(d)
 
112,094
529,084
Nongfu Spring Co. Ltd. (H Shares) (c)
 
162,800
956,437
Offcn Education Technology Co. A Shares (a)
 
22,400
8,178
Offshore Oil Enginering Co. Ltd. (A Shares)
 
26,800
23,486
OFILM Group Co. Ltd. (A Shares) (a)
 
14,600
17,601
Oppein Home Group, Inc. (A Shares)
 
2,560
21,983
Orient Securities Co. Ltd. (A Shares)
 
33,540
38,535
Oriental Pearl Group Co. Ltd. (a)
 
15,100
14,352
Pangang Group Vanadium Titanium & Resources Co. Ltd. (A Shares) (a)
 
33,400
14,285
PDD Holdings, Inc. ADR (a)
 
48,700
6,096,266
People's Insurance Co. of China Group Ltd.:
 
 
 
 (A Shares)
 
50,300
36,297
 (H Shares)
 
671,000
220,239
People.cn Co. Ltd. (A Shares) (a)
 
5,500
18,743
Perfect World Co. Ltd. (A Shares)
 
8,250
11,359
PetroChina Co. Ltd.:
 
 
 
 (A Shares)
 
112,700
159,002
 (H Shares)
 
1,716,000
1,598,868
Pharmaron Beijing Co. Ltd.:
 
 
 
 (A Shares)
 
5,325
14,421
 (H Shares) (c)
 
2,500
3,065
PICC Property & Casualty Co. Ltd. (H Shares)
 
560,000
695,735
Ping An Bank Co. Ltd. (A Shares)
 
91,800
136,446
Ping An Insurance Group Co. of China Ltd.:
 
 
 
 (A Shares)
 
59,000
335,389
 (H Shares)
 
542,000
2,456,389
Piotech, Inc. (A Shares)
 
747
18,577
Poly Developments & Holdings (A Shares)
 
58,000
71,165
Pop Mart International Group Ltd. (c)
 
37,800
161,763
Postal Savings Bank of China Co. Ltd.
 
148,000
97,946
Postal Savings Bank of China Co. Ltd. (H Shares) (c)
 
621,000
321,773
Power Construction Corp. of China Ltd. (A Shares)
 
84,100
58,847
Prosus NV
 
119,091
3,984,779
Qi An Xin Technology Group, Inc. (A Shares) (a)
 
2,667
11,337
Qifu Technology, Inc. ADR
 
9,627
176,078
Qinghai Salt Lake Potash Co. Ltd. Class A (a)
 
24,600
56,197
Range Intelligent Computing Technology Group Co. Ltd. (A Shares)
 
6,300
27,118
Risen Energy Co. Ltd. (A Shares)
 
3,900
6,967
Rockchip Electronics Co. Ltd.
 
1,400
11,073
Rongsheng Petrochemical Co. Ltd. (A Shares)
 
43,250
66,803
SAIC Motor Corp. Ltd. (A Shares)
 
34,200
70,029
Sailun Group Co. Ltd. A Shares
 
15,100
34,512
Sanan Optoelectronics Co. Ltd. (A Shares)
 
23,000
39,633
Sangfor Technologies, Inc. (a)
 
1,600
12,053
Sany Heavy Equipment International Holdings Co. Ltd.
 
93,000
65,349
Sany Heavy Industry Co. Ltd. (A Shares)
 
37,600
84,490
Satellite Chemical Co. Ltd. (A Shares) (a)
 
16,009
42,521
SDIC Capital Co. Ltd.
 
29,800
26,259
SDIC Power Holdings Co. Ltd. (A Shares)
 
32,700
71,811
Seazen Holdings Co. Ltd. (A Shares) (a)
 
8,200
11,108
Seres Group Co. Ltd. (A Shares) (a)
 
6,800
84,757
SF Holding Co. Ltd. (A Shares)
 
22,100
110,240
SG Micro Corp. (A Shares)
 
2,457
25,950
Shaanxi Coal Industry Co. Ltd. (A Shares)
 
45,200
153,083
Shan Xi Hua Yang Group New Energy Co. Ltd.
 
19,300
25,155
Shandong Gold Mining Co. Ltd.:
 
 
 
 (A Shares)
 
17,740
70,147
 (H Shares) (c)
 
68,250
147,475
Shandong Himile Mechanical Science & Technology Co. Ltd. (A Shares) (a)
 
3,700
20,303
Shandong Hualu Hengsheng Chemical Co. Ltd. (A Shares)
 
9,460
38,830
Shandong Linglong Tyre Co. Ltd. (A Shares)
 
7,300
22,494
Shandong Nanshan Aluminum Co. Ltd. (A Shares)
 
55,000
27,102
Shandong Sun Paper Industry JSC Ltd. (A Shares)
 
14,200
30,487
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)
 
188,800
128,034
Shanghai Aiko Solar Energy Co. Ltd. (A Shares)
 
6,440
10,615
Shanghai Bairun Investment Holding Group Co. Ltd. (A Shares)
 
3,644
10,231
Shanghai Baosight Software Co. Ltd.
 
75,786
161,900
Shanghai Construction Group Co. Ltd. (A Shares)
 
49,098
16,228
Shanghai Electric Group Co. Ltd. (A Shares) (a)
 
51,500
30,568
Shanghai Electric Power Co. Ltd. (A Shares)
 
12,000
15,190
Shanghai Fosun Pharmaceutical (Group) Co. Ltd.:
 
 
 
 (A Shares)
 
5,400
17,629
 (H Shares)
 
46,000
72,214
Shanghai Friendess Electronic Technology Corp. Ltd. (A Shares)
 
617
27,565
Shanghai International Airport Co. Ltd. (A Shares) (a)
 
5,200
26,974
Shanghai International Port Group Co. Ltd. (A Shares)
 
34,200
26,491
Shanghai Jinjiang International Hotels Co. Ltd. (A Shares)
 
3,300
13,127
Shanghai Junshi Biosciences Co. Ltd. (A Shares) (a)
 
3,886
16,107
Shanghai Lingang Holdings Corp. Ltd. (A Shares)
 
10,480
15,261
Shanghai M&G Stationery, Inc. (A Shares)
 
5,400
26,305
Shanghai Moons' Electric Co. Ltd. (A Shares) (a)
 
2,000
15,419
Shanghai Pharmaceuticals Holding Co. Ltd.:
 
 
 
 (A Shares)
 
14,600
36,092
 (H Shares)
 
54,600
77,590
Shanghai Pudong Development Bank Co. Ltd. (A Shares)
 
136,900
145,130
Shanghai Putailai New Energy Technology Co. Ltd.
 
9,286
23,621
Shanghai RAAS Blood Products Co. Ltd. (A Shares)
 
26,800
26,505
Shanghai Rural Commercial Bank Co. Ltd. (A Shares)
 
46,200
43,095
Shanghai United Imaging Healthcare Co. Ltd. (A Shares) (a)
 
3,614
66,033
Shanghai Yuyuan Tourist Mart Group Co. Ltd.
 
21,700
17,734
Shanghai Zhangjiang High Ltd. (A Shares) (a)
 
6,800
17,239
Shanxi Coal International Energy Group Co. Ltd. (A Shares) (a)
 
8,100
15,994
Shanxi Lu'an Environmental Energy Development Co. Ltd. (A Shares)
 
13,900
40,530
Shanxi Meijin Energy Co. Ltd. (A Shares) (a)
 
18,700
15,634
Shanxi Taigang Stainless Steel Co. Ltd. (A Shares)
 
36,700
19,532
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares)
 
5,660
203,855
Shanxi Xishan Coal & Electricity Power Co. Ltd. (A Shares)
 
28,430
41,138
Shede Spirits Co. Ltd. (A Shares)
 
1,300
13,039
Shenergy Co. Ltd. (A Shares)
 
18,400
21,581
Shengyi Technology Co. Ltd.
 
10,900
29,066
Shennan Circuits Co. Ltd. (A Shares)
 
2,640
33,863
Shenwan Hongyuan Group Co. Ltd. (A Shares)
 
103,000
66,656
Shenzhen Capchem Technology Co. Ltd. (A Shares)
 
3,180
14,738
Shenzhen Energy Group Co. Ltd. (A Shares)
 
23,640
23,573
Shenzhen Goodix Technology Co. Ltd. (A Shares) (a)
 
2,100
17,723
Shenzhen Inovance Technology Co. Ltd. (A Shares)
 
6,050
49,616
Shenzhen Kaifa Technology Co. Ltd. (A Shares)
 
6,000
11,386
Shenzhen Kangtai Biological Products Co. Ltd.
 
4,320
12,028
Shenzhen Kedali Industry Co. Ltd.
 
1,000
13,139
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)
 
5,700
239,342
Shenzhen New Industries Biomedical Engineering Co. Ltd.
 
3,700
36,063
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) (a)
 
50,800
18,460
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares)
 
4,600
20,208
Shenzhen SC New Energy Technology Corp. (A Shares)
 
1,300
12,292
Shenzhen Sed Industry Co. Ltd. (A Shares)
 
3,600
8,700
Shenzhen Transsion Holdings Co. Ltd. (A Shares)
 
3,834
75,932
Shenzhen YUTO Packaging Technology Co. Ltd. (A Shares)
 
4,200
15,481
Shenzhou International Group Holdings Ltd.
 
67,300
661,506
Shijiazhuang Yiling Pharmaceutical Co. Ltd. (A Shares)
 
8,440
21,899
Sichuan Changhong Electric Co. Ltd. (A Shares)
 
20,500
15,693
Sichuan Chuantou Energy Co. Ltd. (A Shares)
 
20,200
46,353
Sichuan Hebang Biotechnology Co. Ltd. (A Shares)
 
50,600
14,650
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares)
 
6,700
31,374
Sichuan Road & Bridge (Group) Co. Ltd. (A Shares)
 
33,520
33,540
Sichuan Swellfun Co. Ltd. (A Shares)
 
1,900
11,782
Sieyuan Electric Co. Ltd. (A Shares)
 
3,200
28,713
Silergy Corp.
 
26,000
344,695
Sinolink Securities Co. Ltd. (A Shares)
 
14,700
17,696
Sinoma International Engineering Co. Ltd. (A Shares)
 
10,100
17,666
Sinoma Science & Technology Co. Ltd. (A Shares)
 
6,700
14,330
Sinomine Resource Group Co. Ltd. (A Shares)
 
4,056
19,837
Sinopharm Group Co. Ltd. (H Shares)
 
116,000
292,942
Sinotruk Hong Kong Ltd.
 
52,500
130,657
SITC International Holdings Co. Ltd.
 
115,000
249,388
SKSHU Paint Co. Ltd. (A Shares)
 
2,156
10,091
Smoore International Holdings Ltd. (c)
 
149,000
129,766
Songcheng Performance Development Co. Ltd. (A Shares)
 
10,220
15,288
Soochow Securities Co. Ltd. (A Shares)
 
25,070
23,606
Southwest Securities Co. Ltd. (A Shares)
 
36,400
19,883
Spring Airlines Co. Ltd. (A Shares) (a)
 
5,000
39,111
StarPower Semiconductor Ltd. (A Shares)
 
700
13,395
Sungrow Power Supply Co. Ltd. (A Shares)
 
7,200
102,254
Sunny Optical Technology Group Co. Ltd.
 
58,300
282,039
Sunresin New Materials Co. Ltd. (A Shares)
 
1,950
12,543
Sunwoda Electronic Co. Ltd. (A Shares)
 
6,600
13,818
SUPCON Technology Co. Ltd. (A Shares)
 
4,536
29,733
Suzhou Dongshan Precision Manufacturing Co. Ltd. (A Shares)
 
6,700
14,164
Suzhou Maxwell Technologies Co. Ltd. (A Shares)
 
1,528
24,123
Suzhou TFC Optical Communication Co. Ltd. (A Shares)
 
2,000
43,820
TAL Education Group ADR (a)
 
35,453
426,854
TBEA Co. Ltd. (A Shares)
 
26,750
52,089
TCL Technology Group Corp. (A Shares)
 
81,040
53,277
TCL Zhonghuan Renewable Energy Technology Co. Ltd. (A Shares)
 
21,575
30,965
Tencent Holdings Ltd.
 
539,000
23,653,045
Tencent Music Entertainment Group ADR (a)
 
60,849
763,655
Thunder Software Technology Co. Ltd. (A Shares)
 
1,700
11,392
Tianfeng Securities Co. Ltd. (A Shares) (a)
 
39,200
15,730
Tianjin 712 Communication & Broadcasting Co. Ltd.
 
4,100
12,500
Tianma Microelectronics Co. Ltd. (A Shares) (a)
 
13,200
14,743
Tianqi Lithium Corp. (A Shares)
 
6,500
35,252
Tianshan Aluminum Group Co. Ltd.
 
21,500
22,366
Tianshui Huatian Technology Co. Ltd. (A Shares)
 
14,800
16,654
Tingyi (Cayman Islands) Holding Corp.
 
158,000
174,384
Tongcheng Travel Holdings Ltd.
 
98,000
257,924
TongFu Microelectronics Co. Ltd. (A Shares)
 
5,500
15,664
Tongkun Group Co. Ltd. (A Shares) (a)
 
9,400
17,834
Tongling Nonferrous Metals Group Co. Ltd. (A Shares)
 
58,200
32,271
Tongwei Co. Ltd. (A Shares)
 
22,400
66,948
Topchoice Medical Corp. (a)
 
1,300
10,886
Topsports International Holdings Ltd. (c)
 
148,000
102,782
TravelSky Technology Ltd. (H Shares)
 
71,000
92,231
Trina Solar Co. Ltd. (A Shares)
 
10,581
30,963
Trip.com Group Ltd. (a)
 
45,000
2,191,831
Tsinghua Tongfang Co. Ltd. (A Shares) (a)
 
15,300
12,766
Tsingtao Brewery Co. Ltd.:
 
 
 
 (A Shares) (a)
 
2,500
28,217
 (H Shares)
 
54,000
389,146
Unigroup Guoxin Microelectronics Co. Ltd. (a)
 
4,599
36,842
Unisplendour Corp. Ltd. (A Shares) (a)
 
13,320
38,124
Universal Scientific Industrial Shanghai Co. Ltd. (A Shares)
 
7,000
14,247
Verisilicon Microelectronics Shanghai Co. Ltd. (A Shares) (a)
 
1,918
8,676
Vipshop Holdings Ltd. ADR
 
28,180
423,827
Walvax Biotechnology Co. Ltd. (A Shares)
 
8,200
16,608
Wanda Film Holding Co. Ltd. (A Shares) (a)
 
7,300
14,707
Wanhua Chemical Group Co. Ltd. (A Shares)
 
15,000
183,770
Want Want China Holdings Ltd.
 
374,000
213,312
Weichai Power Co. Ltd.:
 
 
 
 (A Shares)
 
13,100
31,429
 (H Shares)
 
187,000
382,109
Weihai Guangwei Composites Co. Ltd. (A Shares)
 
3,520
12,622
Wens Foodstuffs Group Co. Ltd. (A Shares)
 
31,560
82,926
Western Mining Co. Ltd. (A Shares)
 
13,000
35,847
Western Securities Co. Ltd. (A Shares)
 
22,700
23,128
Western Superconducting Technologies Co. Ltd. (A Shares)
 
2,303
12,574
Wharf Holdings Ltd.
 
88,000
283,127
Will Semiconductor Ltd.
 
5,350
74,760
Wilmar International Ltd.
 
156,100
366,925
Wingtech Technology Co. Ltd. (A Shares) (a)
 
5,300
22,913
Wintime Energy Group Co. Ltd. (A Shares) (a)
 
78,900
14,685
Wuchan Zhongda Group Co. Ltd.
 
28,300
18,404
Wuhan Guide Infrared Co. Ltd. (A Shares)
 
17,590
16,979
Wuliangye Yibin Co. Ltd. (A Shares)
 
22,400
463,258
WUS Printed Circuit Kunshan Co. Ltd. (A Shares)
 
8,240
37,475
WuXi AppTec Co. Ltd.
 
9,260
55,645
WuXi AppTec Co. Ltd. (H Shares) (c)
 
34,564
155,576
Wuxi Biologics (Cayman), Inc. (a)(c)
 
308,000
533,560
XCMG Construction Machinery Co. Ltd. (A Shares)
 
57,800
55,938
Xiamen C&D, Inc. (A Shares)
 
12,400
16,999
Xiamen Faratronic Co. Ltd. (A Shares)
 
900
12,219
Xiamen Tungsten Co. Ltd. (A Shares)
 
6,000
15,822
Xiaomi Corp. Class B (a)(c)
 
1,257,800
2,741,913
Xinjiang Daqo New Energy Co. Ltd. (A Shares) (a)
 
8,381
28,246
Xinyi Solar Holdings Ltd.
 
388,968
267,636
XPeng, Inc. Class A (a)
 
95,402
386,775
Yadea Group Holdings Ltd. (c)
 
98,000
188,520
Yangzhou Yangjie Electronic Technology Co. Ltd. (A Shares)
 
3,500
18,286
Yankuang Energy Group Co. Ltd.:
 
 
 
 (A Shares)
 
21,050
67,059
 (H Shares)
 
182,000
394,826
Yantai Jereh Oilfield Services (A Shares)
 
5,300
23,247
Yealink Network Technology Corp. Ltd.
 
6,030
29,337
Yifeng Pharmacy Chain Co. Ltd.
 
4,060
24,558
Yihai Kerry Arawana Holdings Co. Ltd. (A Shares)
 
7,000
30,270
Yintai Gold Co. Ltd. (A Shares)
 
12,620
32,016
Yonghui Superstores Co. Ltd. (A Shares) (a)
 
32,700
10,944
YongXing Special Materials Technology Co. Ltd. (A Shares)
 
1,950
12,734
Yonyou Network Technology Co. Ltd. (A Shares)
 
16,720
26,750
Youngor Fashion Co. Ltd. (A Shares)
 
20,800
22,417
YTO Express Group Co. Ltd. (A Shares)
 
15,900
34,783
Yuexiu Property Co. Ltd.
 
120,240
71,762
Yum China Holdings, Inc.
 
33,388
1,218,996
Yunda Holding Co. Ltd. (A Shares)
 
10,180
10,999
Yunnan Aluminium Co. Ltd. (A Shares)
 
17,100
33,744
Yunnan Baiyao Group Co. Ltd. (A Shares)
 
8,400
66,277
Yunnan Botanee Bio-Technology Group Co., Ltd. (A Shares)
 
1,700
13,375
Yunnan Chihong Zinc & Germanium Co. Ltd. (A Shares) (a)
 
22,900
18,054
Yunnan Energy New Material Co. Ltd.
 
4,400
25,224
Yunnan Tin Co. Ltd. (A Shares)
 
8,900
20,182
Yunnan Yuntianhua Co. Ltd. (Series A)
 
7,000
19,516
Yutong Bus Co. Ltd. (a)
 
10,100
35,659
Zai Lab Ltd. (a)
 
75,140
120,773
Zangge Mining Co. Ltd. (Series A)
 
8,700
34,476
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares)
 
2,700
88,385
Zhaojin Mining Industry Co. Ltd. (H Shares)
 
104,000
167,485
Zhejiang Century Huatong Group Co. Ltd. (A Shares) (a)
 
34,940
22,518
Zhejiang China Commodities City Group Co. Ltd. (A Shares)
 
23,100
27,884
Zhejiang Chint Electric Co. Ltd. (A Shares)
 
10,200
29,015
Zhejiang Dahua Technology Co. Ltd. (A Shares)
 
17,200
42,470
Zhejiang Dingli Machinery Co. Ltd. (A Shares)
 
2,800
25,299
Zhejiang Expressway Co. Ltd. (H Shares)
 
125,640
82,147
Zhejiang Huahai Pharmaceutical Co. Ltd. (A Shares)
 
5,290
12,228
Zhejiang Huayou Cobalt Co. Ltd. (A Shares)
 
7,740
30,275
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. (A Shares)
 
7,100
33,133
Zhejiang Juhua Co. Ltd. (A Shares)
 
11,400
37,190
Zhejiang Leapmotor Technology Co. Ltd. (H Shares) (a)(c)
 
40,300
138,473
Zhejiang Longsheng Group Co. Ltd. (A Shares)
 
11,600
14,629
Zhejiang NHU Co. Ltd. (A Shares)
 
14,532
38,450
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares)
 
9,100
27,471
Zhejiang Supor Cookware Co. Ltd.
 
3,000
24,340
Zhejiang Weiming Enviroment Protection Co. Ltd. (A Shares)
 
6,240
18,924
Zhejiang Weixing New Building Materials Co. Ltd. (A Shares)
 
5,900
14,284
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) (a)
 
56,200
48,282
Zheshang Securities Co. Ltd.
 
16,700
25,948
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(c)
 
57,200
96,206
Zhongji Innolight Co. Ltd. (A Shares)
 
3,800
95,787
Zhongjin Gold Co. Ltd. (A Shares)
 
25,600
46,089
Zhongsheng Group Holdings Ltd. Class H
 
67,000
122,194
Zhongtai Securities Co. Ltd. (A Shares)
 
36,900
33,834
Zhuzhou CRRC Times Electric Co. Ltd.:
 
 
 
 (A Shares)
 
4,183
27,485
 (H Shares)
 
39,000
139,777
Zijin Mining Group Co. Ltd.:
 
 
 
 (A Shares)
 
81,000
195,015
 (H Shares)
 
464,000
1,012,203
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares)
 
34,900
40,906
ZTE Corp.:
 
 
 
 (A Shares)
 
5,600
22,006
 (H Shares)
 
98,400
212,087
ZTO Express, Inc. sponsored ADR
 
34,627
726,821
TOTAL CHINA
 
 
161,154,197
Colombia - 0.0%
 
 
 
Bancolombia SA
 
21,149
182,217
Interconexion Electrica SA ESP
 
34,499
159,172
TOTAL COLOMBIA
 
 
341,389
Czech Republic - 0.0%
 
 
 
CEZ A/S
 
13,295
490,753
Komercni Banka A/S
 
5,927
218,655
MONETA Money Bank A/S (c)
 
25,912
104,553
TOTAL CZECH REPUBLIC
 
 
813,961
Denmark - 2.3%
 
 
 
A.P. Moller - Maersk A/S:
 
 
 
 Series A
 
247
352,004
 Series B
 
326
475,317
Carlsberg A/S Series B
 
7,957
1,070,319
Coloplast A/S Series B
 
10,284
1,239,892
Danske Bank A/S
 
56,168
1,623,422
Demant A/S (a)
 
8,097
389,737
DSV A/S
 
14,260
2,035,889
Genmab A/S (a)
 
5,399
1,498,925
Novo Nordisk A/S Series B
 
265,699
34,073,854
Novonesis (NOVOZYMES) B Series B
 
30,428
1,691,872
ORSTED A/S (a)(c)
 
15,426
851,323
Pandora A/S
 
6,893
1,054,825
Rockwool International A/S Series B
 
765
251,319
Svitzer A/S
 
1,146
38,509
Tryg A/S
 
28,599
566,750
Vestas Wind Systems A/S (a)
 
82,338
2,219,588
TOTAL DENMARK
 
 
49,433,545
Egypt - 0.0%
 
 
 
Commercial International Bank SAE
 
179,723
270,054
Commercial International Bank SAE GDR
 
49,558
73,445
Eastern Co. SAE
 
75,096
34,527
EFG Holding SAE
 
76,734
23,734
TOTAL EGYPT
 
 
401,760
Finland - 0.6%
 
 
 
Elisa Corp. (A Shares)
 
11,525
520,514
Fortum Corp.
 
36,125
477,281
Kesko Oyj
 
22,143
378,805
Kone OYJ (B Shares)
 
27,785
1,358,069
Metso Corp.
 
53,369
607,999
Neste OYJ
 
34,633
788,734
Nokia Corp.
 
434,619
1,579,993
Nordea Bank Abp (Helsinki Stock Exchange)
 
258,584
3,030,154
Orion Oyj (B Shares)
 
9,020
344,520
Sampo Oyj (A Shares)
 
36,810
1,489,635
Stora Enso Oyj (R Shares)
 
46,850
627,479
UPM-Kymmene Corp.
 
43,745
1,536,859
Wartsila Corp.
 
37,999
703,992
TOTAL FINLAND
 
 
13,444,034
France - 6.3%
 
 
 
Accor SA
 
15,264
672,929
Adevinta ASA Class B (a)
 
27,314
278,832
Aeroports de Paris SA
 
2,882
367,543
Air Liquide SA
 
42,703
8,351,794
Airbus Group NV
 
48,263
7,942,051
Alstom SA
 
23,768
374,775
Amundi SA (c)
 
4,992
350,281
Arkema SA
 
4,888
506,259
AXA SA
 
147,543
5,107,934
bioMerieux SA
 
3,372
359,860
BNP Paribas SA
 
84,099
6,051,920
Bollore SA
 
58,534
381,052
Bouygues SA
 
15,354
567,112
Bureau Veritas SA
 
25,862
756,790
Capgemini SA
 
12,669
2,662,784
Carrefour SA
 
45,753
769,713
Compagnie de St.-Gobain
 
37,154
2,938,235
Compagnie Generale des Etablissements Michelin SCA Series B
 
55,258
2,122,938
Covivio
 
3,958
197,936
Covivio rights (a)(b)
 
3,958
13,939
Credit Agricole SA
 
86,601
1,339,998
Danone SA
 
52,297
3,273,129
Dassault Aviation SA
 
1,703
365,669
Dassault Systemes SA
 
54,485
2,138,641
Edenred SA
 
20,412
968,503
Eiffage SA
 
5,921
633,785
Engie SA
 
148,337
2,575,222
EssilorLuxottica SA
 
23,992
5,141,336
Eurazeo SA
 
3,462
313,306
Gecina SA
 
3,842
393,618
Getlink SE
 
28,935
494,071
Hermes International SCA
 
2,577
6,190,643
Ipsen SA
 
3,154
384,055
Kering SA
 
6,075
2,139,469
Klepierre SA
 
17,485
471,351
L'Oreal SA
 
19,576
9,184,951
La Francaise des Jeux SAEM (c)
 
8,739
330,709
Legrand SA
 
21,557
2,215,339
LVMH Moet Hennessy Louis Vuitton SE
 
22,479
18,465,067
Orange SA
 
152,315
1,695,309
Pernod Ricard SA
 
16,649
2,523,029
Publicis Groupe SA
 
18,645
2,057,416
Remy Cointreau SA
 
1,795
170,291
Renault SA
 
15,446
770,461
Rexel SA
 
18,746
488,740
Safran SA
 
27,825
6,033,351
Sartorius Stedim Biotech
 
2,392
518,207
SEB SA
 
1,960
232,598
Societe Generale Series A
 
59,273
1,597,114
Sodexo SA
 
7,108
620,128
Teleperformance
 
4,687
427,568
Thales SA
 
7,745
1,305,530
TotalEnergies SE
 
176,731
12,830,445
Unibail-Rodamco-Westfield NV
 
9,657
808,811
Veolia Environnement SA
 
56,080
1,743,397
VINCI SA
 
40,627
4,760,512
Vivendi SA
 
53,759
548,817
Worldline SA (a)(c)
 
18,751
196,189
TOTAL FRANCE
 
 
137,121,452
Germany - 4.9%
 
 
 
adidas AG
 
13,214
3,192,688
Allianz SE
 
31,849
9,038,265
BASF AG
 
72,850
3,821,581
Bayer AG
 
80,204
2,340,988
Bayerische Motoren Werke AG (BMW)
 
25,897
2,831,439
Bechtle AG
 
6,819
329,659
Beiersdorf AG
 
8,205
1,230,709
Brenntag SE
 
10,867
868,171
Carl Zeiss Meditec AG
 
3,306
349,641
Commerzbank AG
 
86,258
1,285,081
Continental AG
 
8,852
574,747
Covestro AG (a)(c)
 
15,563
780,283
Daimler Truck Holding AG
 
43,542
1,966,062
Deutsche Bank AG
 
157,754
2,527,010
Deutsche Borse AG
 
15,443
2,977,287
Deutsche Lufthansa AG
 
49,717
356,231
Deutsche Telekom AG
 
263,329
6,031,700
DHL Group
 
80,746
3,380,830
E.ON SE
 
182,525
2,415,404
Evonik Industries AG
 
19,800
412,997
Fresenius Medical Care AG & Co. KGaA
 
16,508
695,032
Fresenius SE & Co. KGaA
 
34,647
1,034,199
GEA Group AG
 
13,254
536,083
Hannover Reuck SE
 
4,918
1,219,749
HeidelbergCement AG
 
10,649
1,075,547
Henkel AG & Co. KGaA
 
8,145
585,695
Infineon Technologies AG
 
106,506
3,696,080
Knorr-Bremse AG
 
5,967
442,784
LEG Immobilien AG
 
6,088
519,249
Mercedes-Benz Group AG (Germany)
 
65,372
4,944,795
Merck KGaA
 
10,528
1,673,525
MTU Aero Engines AG
 
4,427
1,070,570
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
11,096
4,881,129
Nemetschek SE
 
4,657
415,239
Puma AG
 
8,717
402,473
Rational AG
 
423
362,946
Rheinmetall AG
 
3,561
1,965,515
RWE AG
 
51,575
1,796,642
SAP SE
 
84,998
15,347,838
Scout24 AG (c)
 
6,165
454,629
Siemens AG
 
61,859
11,588,267
Siemens Energy AG (a)
 
42,477
874,897
Siemens Healthineers AG (c)
 
22,958
1,273,192
Symrise AG
 
10,851
1,166,125
Talanx AG
 
5,305
400,268
Volkswagen AG
 
2,324
328,086
Vonovia SE
 
59,772
1,727,173
Zalando SE (a)(c)
 
18,410
481,702
TOTAL GERMANY
 
 
107,670,202
Greece - 0.1%
 
 
 
Alpha Bank SA (a)
 
186,212
316,470
Eurobank Ergasias Services and Holdings SA (a)
 
213,539
458,057
Ff Group (a)(e)
 
256
0
Hellenic Telecommunications Organization SA
 
15,108
230,240
Jumbo SA
 
9,109
283,662
Motor Oil (HELLAS) Corinth Refineries SA
 
5,149
149,245
Mytilineos SA
 
8,252
336,410
National Bank of Greece SA (a)
 
63,564
512,836
OPAP SA
 
15,227
253,666
Piraeus Financial Holdings SA (a)
 
84,901
340,109
Public Power Corp. of Greece (a)
 
17,315
207,699
TOTAL GREECE
 
 
3,088,394
Hong Kong - 1.1%
 
 
 
AIA Group Ltd.
 
926,200
6,783,820
CK Asset Holdings Ltd.
 
157,745
672,873
CK Infrastructure Holdings Ltd.
 
52,000
293,755
CLP Holdings Ltd.
 
134,000
1,054,052
Futu Holdings Ltd. ADR (a)
 
4,585
294,861
Hang Lung Properties Ltd.
 
141,000
155,623
Hang Seng Bank Ltd.
 
61,700
813,612
Henderson Land Development Co. Ltd.
 
121,010
364,824
HKT Trust/HKT Ltd. unit
 
317,000
349,961
Hong Kong & China Gas Co. Ltd.
 
907,865
690,297
Hong Kong Exchanges and Clearing Ltd.
 
98,349
3,124,983
Hongkong Land Holdings Ltd.
 
91,409
292,068
Jardine Matheson Holdings Ltd.
 
12,835
491,185
Link (REIT)
 
211,460
906,063
MTR Corp. Ltd.
 
131,391
431,808
Orient Overseas International Ltd.
 
11,000
160,435
Power Assets Holdings Ltd.
 
112,000
642,449
Prudential PLC
 
224,794
1,955,112
Sino Biopharmaceutical Ltd.
 
869,250
297,022
Sino Land Ltd.
 
318,688
340,741
Sun Hung Kai Properties Ltd.
 
118,500
1,093,158
Swire Pacific Ltd. (A Shares)
 
35,000
296,405
Swire Properties Ltd.
 
93,000
192,340
Techtronic Industries Co. Ltd.
 
112,500
1,554,672
WH Group Ltd. (c)
 
680,766
494,808
Wharf Real Estate Investment Co. Ltd.
 
136,000
421,942
TOTAL HONG KONG
 
 
24,168,869
Hungary - 0.1%
 
 
 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
34,854
286,033
OTP Bank PLC
 
17,965
891,448
Richter Gedeon PLC
 
11,428
291,014
TOTAL HUNGARY
 
 
1,468,495
India - 4.9%
 
 
 
ABB India Ltd.
 
4,375
342,478
Adani Enterprises Ltd.
 
13,671
499,399
Adani Green Energy Ltd. (a)
 
25,839
555,087
Adani Ports & Special Economic Zone Ltd.
 
43,087
682,392
Adani Power Ltd. (a)
 
61,852
452,308
Ambuja Cements Ltd.
 
49,655
368,012
APL Apollo Tubes Ltd.
 
13,850
257,874
Apollo Hospitals Enterprise Ltd.
 
8,151
579,575
Ashok Leyland Ltd.
 
114,978
264,710
Asian Paints Ltd.
 
31,408
1,080,063
Astral Ltd.
 
11,330
286,672
AU Small Finance Bank Ltd. (c)
 
13,311
100,824
Aurobindo Pharma Ltd.
 
21,993
303,441
Avenue Supermarts Ltd. (a)(c)
 
13,230
729,824
Axis Bank Ltd.
 
186,289
2,599,500
Bajaj Auto Ltd.
 
5,363
572,379
Bajaj Finance Ltd.
 
22,731
1,885,050
Bajaj Finserv Ltd.
 
30,717
593,204
Bajaj Holdings & Investment Ltd.
 
2,220
215,589
Balkrishna Industries Ltd.
 
6,035
175,304
Bandhan Bank Ltd. (c)
 
62,488
140,639
Bank of Baroda
 
86,665
291,312
Berger Paints India Ltd.
 
23,244
141,549
Bharat Electronics Ltd.
 
294,979
824,637
Bharat Forge Ltd.
 
21,339
324,606
Bharat Heavy Electricals Ltd.
 
82,469
277,324
Bharat Petroleum Corp. Ltd.
 
61,182
445,069
Bharti Airtel Ltd.
 
183,464
2,903,168
Britannia Industries Ltd.
 
8,918
509,565
Cg Power & Industrial Soluti
 
50,370
333,427
Cholamandalam Investment and Finance Co. Ltd.
 
33,939
484,313
Cipla Ltd./India (a)
 
42,319
708,231
Coal India Ltd.
 
123,898
673,435
Colgate-Palmolive Ltd.
 
11,241
380,305
Container Corp. of India Ltd.
 
19,319
237,226
Cummins India Ltd.
 
11,270
441,140
Dabur India Ltd.
 
52,260
317,551
Divi's Laboratories Ltd.
 
9,717
465,140
DLF Ltd.
 
59,754
636,475
Dr. Reddy's Laboratories Ltd.
 
9,448
700,914
Eicher Motors Ltd.
 
11,080
609,821
GAIL India Ltd.
 
190,002
474,512
GMR Airports Infrastructure Ltd. (a)
 
190,239
193,435
Godrej Consumer Products Ltd.
 
33,154
483,727
Godrej Properties Ltd. (a)
 
10,429
329,530
Grasim Industries Ltd.
 
21,279
613,366
Havells India Ltd.
 
20,935
416,541
HCL Technologies Ltd.
 
77,365
1,261,850
HDFC Asset Management Co. Ltd. (c)
 
7,979
371,867
HDFC Bank Ltd.
 
228,918
4,156,104
HDFC Standard Life Insurance Co. Ltd. (c)
 
78,036
544,540
Hero Motocorp Ltd.
 
9,687
525,584
Hindalco Industries Ltd.
 
108,533
834,465
Hindustan Aeronautics Ltd.
 
16,171
762,918
Hindustan Petroleum Corp. Ltd.
 
47,065
279,097
Hindustan Unilever Ltd.
 
67,057
1,790,390
ICICI Bank Ltd.
 
422,724
5,823,036
ICICI Lombard General Insurance Co. Ltd. (c)
 
19,477
397,957
ICICI Prudential Life Insurance Co. Ltd. (c)
 
28,690
196,350
IDFC Bank Ltd. (a)
 
274,085
268,922
Indian Oil Corp. Ltd.
 
226,891
458,050
Indian Railway Catering & Tourism Corp. Ltd.
 
18,852
234,025
Indraprastha Gas Ltd.
 
24,679
138,419
IndusInd Bank Ltd.
 
23,360
423,407
Info Edge India Ltd.
 
5,743
415,237
Infosys Ltd.
 
270,545
4,566,723
InterGlobe Aviation Ltd. (a)(c)
 
14,140
674,059
ITC Ltd.
 
244,234
1,273,131
Jindal Steel & Power Ltd.
 
29,814
331,021
Jio Financial Services Ltd.
 
233,594
1,051,609
JSW Steel Ltd.
 
49,362
519,927
Jubilant Foodworks Ltd.
 
31,296
173,333
Kotak Mahindra Bank Ltd.
 
89,270
1,734,504
Larsen & Toubro Ltd.
 
54,875
2,358,181
Ltimindtree Ltd. (c)
 
7,151
401,528
Lupin Ltd.
 
18,983
373,670
Macrotech Developers Ltd. (c)
 
19,856
294,033
Mahindra & Mahindra Ltd.
 
76,299
1,967,489
Marico Ltd.
 
43,445
269,532
Maruti Suzuki India Ltd.
 
11,563
1,773,483
Max Healthcare Institute Ltd.
 
62,668
629,568
Mphasis BFL Ltd.
 
5,858
161,745
MRF Ltd.
 
194
308,715
Muthoot Finance Ltd.
 
9,346
192,189
Nestle India Ltd.
 
27,603
828,338
NMDC Ltd.
 
81,000
245,739
NTPC Ltd.
 
355,986
1,546,652
Oil & Natural Gas Corp. Ltd.
 
257,752
869,860
One97 Communications Ltd. (a)
 
19,991
89,076
Page Industries Ltd.
 
478
198,927
Persistent Systems Ltd.
 
8,094
325,513
Petronet LNG Ltd.
 
58,397
216,696
PI Industries Ltd.
 
6,953
303,795
Pidilite Industries Ltd.
 
12,419
452,845
Polycab India Ltd.
 
3,506
237,852
Power Finance Corp. Ltd.
 
119,117
627,717
Power Grid Corp. of India Ltd.
 
379,689
1,369,064
Punjab National Bank
 
173,271
292,140
REC Ltd.
 
105,689
640,050
Reliance Industries Ltd.
 
247,862
8,698,538
Samvardhana Motherson International Ltd.
 
199,827
312,862
SBI Cards & Payment Services Ltd.
 
22,185
193,145
SBI Life Insurance Co. Ltd. (c)
 
36,294
624,239
Shree Cement Ltd.
 
706
206,636
Shriram Finance Ltd.
 
22,701
692,413
Siemens Ltd.
 
7,193
502,421
Sona Blw Precision Forgings Ltd. (c)
 
34,276
256,137
SRF Ltd.
 
12,614
395,005
State Bank of India
 
145,666
1,438,473
Sun Pharmaceutical Industries Ltd.
 
78,274
1,405,806
Supreme Industries Ltd.
 
5,288
320,176
Suzlon Energy Ltd. (a)
 
726,122
359,718
Tata Communications Ltd.
 
9,699
200,684
Tata Consultancy Services Ltd.
 
73,628
3,359,435
Tata Consumer Products Ltd.
 
46,156
611,036
Tata Elxsi Ltd.
 
2,866
241,891
Tata Motors Ltd.
 
133,736
1,612,272
Tata Motors Ltd. Class A
 
40,311
328,718
Tata Power Co. Ltd./The
 
115,749
621,020
Tata Steel Ltd.
 
604,912
1,192,053
Tech Mahindra Ltd.
 
43,260
651,471
The Indian Hotels Co. Ltd.
 
69,338
477,666
Titan Co. Ltd.
 
28,993
1,243,658
Torrent Pharmaceuticals Ltd.
 
8,520
269,065
Trent Ltd.
 
14,786
780,256
Tube Investments of India Ltd.
 
8,708
390,518
Tvs Motor Co. Ltd.
 
19,195
472,493
Ultratech Cement Ltd.
 
9,473
1,129,470
Union Bank of India Ltd.
 
116,528
214,734
United Spirits Ltd.
 
23,865
335,630
UPL Ltd.
 
35,582
215,886
Varun Beverages Ltd.
 
37,029
654,850
Vedanta Ltd.
 
78,062
372,458
Wipro Ltd.
 
104,884
577,445
Yes Bank Ltd. (a)
 
1,067,503
333,783
Zomato Ltd. (a)
 
498,690
1,150,613
TOTAL INDIA
 
 
105,924,239
Indonesia - 0.5%
 
 
 
Amman Mineral Internasional PT
 
533,000
317,380
PT Adaro Energy Indonesia Tbk
 
1,151,900
191,443
PT Aneka Tambang Tbk
 
608,300
61,146
PT Astra International Tbk
 
1,644,300
518,868
PT Bank Central Asia Tbk
 
4,523,800
2,720,091
PT Bank Mandiri (Persero) Tbk
 
3,053,100
1,290,476
PT Bank Negara Indonesia (Persero) Tbk
 
1,220,300
392,616
PT Bank Rakyat Indonesia (Persero) Tbk
 
5,570,610
1,686,244
PT Barito Pacific Tbk
 
2,328,095
145,489
PT Charoen Pokphand Indonesia Tbk
 
591,100
179,840
PT GoTo Gojek Tokopedia Tbk (a)
 
68,969,400
265,275
PT Indah Kiat Pulp & Paper Tbk
 
199,100
114,593
PT Indofood CBP Sukses Makmur Tbk
 
189,100
126,398
PT Indofood Sukses Makmur Tbk
 
380,900
146,267
PT Kalbe Farma Tbk
 
1,656,500
147,043
PT Merdeka Copper Gold Tbk (a)
 
769,861
123,991
PT Sarana Menara Nusantara Tbk
 
1,511,400
74,674
PT Semen Indonesia (Persero) Tbk
 
275,282
78,964
PT Sumber Alfaria Trijaya Tbk
 
1,568,700
282,129
PT Telkom Indonesia Persero Tbk
 
3,998,300
775,104
PT Unilever Indonesia Tbk
 
602,700
97,064
PT United Tractors Tbk
 
116,700
177,862
TOTAL INDONESIA
 
 
9,912,957
Ireland - 0.3%
 
 
 
AerCap Holdings NV (a)
 
16,353
1,381,665
AIB Group PLC
 
129,051
670,161
Bank of Ireland Group PLC
 
86,785
930,337
Kerry Group PLC Class A
 
12,930
1,114,951
Kingspan Group PLC (Ireland)
 
12,702
1,136,635
Smurfit Kappa Group PLC
 
21,419
931,478
TOTAL IRELAND
 
 
6,165,227
Israel - 0.4%
 
 
 
Azrieli Group
 
3,330
215,465
Bank Hapoalim BM (Reg.)
 
104,049
941,590
Bank Leumi le-Israel BM
 
124,540
975,244
Check Point Software Technologies Ltd. (a)
 
7,638
1,141,270
Elbit Systems Ltd. (Israel)
 
2,148
438,596
Global-e Online Ltd. (a)
 
8,084
271,057
Icl Group Ltd.
 
64,006
301,414
Israel Discount Bank Ltd. (Class A)
 
99,483
512,617
Mizrahi Tefahot Bank Ltd.
 
12,477
455,843
NICE Ltd. (a)
 
4,960
1,110,073
NICE Ltd. sponsored ADR (a)
 
209
46,714
Teva Pharmaceutical Industries Ltd. sponsored ADR (a)
 
91,447
1,284,830
Wix.com Ltd. (a)
 
4,425
526,000
TOTAL ISRAEL
 
 
8,220,713
Italy - 1.5%
 
 
 
Amplifon SpA
 
10,263
344,243
Assicurazioni Generali SpA
 
81,747
1,997,805
Banco BPM SpA
 
97,569
643,913
Coca-Cola HBC AG
 
17,844
577,492
Davide Campari Milano NV
 
49,553
498,158
DiaSorin SpA
 
1,784
180,755
Enel SpA
 
658,028
4,324,849
Eni SpA
 
178,407
2,865,518
Ferrari NV (Italy)
 
10,263
4,240,875
FinecoBank SpA
 
49,129
757,096
Infrastrutture Wireless Italiane SpA (c)
 
28,025
301,475
Intesa Sanpaolo SpA
 
1,189,696
4,453,037
Leonardo SpA
 
32,623
753,054
Mediobanca SpA
 
41,803
595,572
Moncler SpA
 
16,819
1,150,905
Nexi SpA (a)(c)
 
48,593
284,081
Poste Italiane SpA (c)
 
37,047
471,276
Prysmian SpA
 
21,511
1,174,916
Recordati SpA
 
8,625
460,690
Snam SpA
 
160,829
735,837
Telecom Italia SpA (a)(d)
 
776,707
184,762
Terna - Rete Elettrica Nazionale
 
113,891
914,501
UniCredit SpA
 
125,446
4,604,416
TOTAL ITALY
 
 
32,515,226
Japan - 14.0%
 
 
 
Advantest Corp.
 
62,500
1,956,292
AEON Co. Ltd. (d)
 
53,200
1,112,321
AGC, Inc.
 
16,000
591,588
Aisin Seiki Co. Ltd.
 
12,100
460,239
Ajinomoto Co., Inc.
 
38,300
1,424,050
Ana Holdings, Inc.
 
13,600
258,291
Asahi Group Holdings
 
39,100
1,337,571
ASAHI INTECC Co. Ltd.
 
17,600
257,887
Asahi Kasei Corp.
 
101,000
704,186
Astellas Pharma, Inc.
 
148,000
1,420,489
Azbil Corp.
 
9,500
265,335
Bandai Namco Holdings, Inc.
 
49,300
921,179
Bridgestone Corp.
 
46,300
2,043,081
Brother Industries Ltd.
 
19,300
341,397
Canon, Inc.
 
81,300
2,200,408
Capcom Co. Ltd.
 
27,800
457,656
Central Japan Railway Co.
 
62,800
1,436,109
Chiba Bank Ltd.
 
42,800
361,534
Chubu Electric Power Co., Inc.
 
51,800
664,903
Chugai Pharmaceutical Co. Ltd.
 
54,700
1,739,672
Concordia Financial Group Ltd.
 
85,600
461,225
Dai Nippon Printing Co. Ltd.
 
16,400
477,668
Dai-ichi Mutual Life Insurance Co.
 
76,700
1,776,452
Daifuku Co. Ltd.
 
24,400
499,805
Daiichi Sankyo Kabushiki Kaisha
 
150,700
5,072,217
Daikin Industries Ltd.
 
21,500
2,934,564
Daito Trust Construction Co. Ltd.
 
4,800
514,533
Daiwa House Industry Co. Ltd.
 
48,100
1,353,482
Daiwa Securities Group, Inc.
 
109,000
801,048
DENSO Corp.
 
153,800
2,621,232
Dentsu Group, Inc.
 
16,300
440,967
Disco Corp.
 
7,500
2,136,343
East Japan Railway Co.
 
74,100
1,358,177
Eisai Co. Ltd.
 
20,400
837,809
ENEOS Holdings, Inc.
 
235,300
1,087,137
FANUC Corp.
 
77,700
2,301,419
Fast Retailing Co. Ltd.
 
14,200
3,712,861
Fuji Electric Co. Ltd.
 
10,300
640,701
FUJIFILM Holdings Corp.
 
90,900
1,933,669
Fujitsu Ltd.
 
143,000
2,209,086
GLP J-REIT
 
391
318,005
Hamamatsu Photonics K.K.
 
11,700
428,708
Hankyu Hanshin Holdings, Inc.
 
18,400
482,416
Hikari Tsushin, Inc.
 
1,600
260,035
Hirose Electric Co. Ltd.
 
2,310
245,197
Hitachi Construction Machinery Co. Ltd.
 
8,900
254,204
Hitachi Ltd.
 
75,500
6,965,683
Honda Motor Co. Ltd.
 
376,200
4,280,246
Hoshizaki Corp.
 
9,000
310,128
Hoya Corp.
 
28,600
3,315,879
Hulic Co. Ltd.
 
30,300
279,204
Ibiden Co. Ltd.
 
9,100
345,923
Idemitsu Kosan Co. Ltd.
 
77,530
525,275
Iida Group Holdings Co. Ltd.
 
12,300
157,021
INPEX Corp.
 
79,300
1,187,898
Isuzu Motors Ltd.
 
47,900
607,030
Itochu Corp.
 
96,600
4,358,087
Japan Airlines Co. Ltd.
 
12,200
216,169
Japan Exchange Group, Inc.
 
41,000
960,242
Japan Post Bank Co. Ltd.
 
117,500
1,192,662
Japan Post Holdings Co. Ltd.
 
168,900
1,621,997
Japan Post Insurance Co. Ltd.
 
15,800
296,630
Japan Real Estate Investment Corp.
 
105
356,070
Japan Retail Fund Investment Corp.
 
577
348,351
Japan Tobacco, Inc.
 
96,900
2,606,767
JFE Holdings, Inc.
 
46,400
692,554
Kajima Corp.
 
34,600
662,835
Kansai Electric Power Co., Inc.
 
57,400
859,819
Kao Corp.
 
37,900
1,563,459
Kawasaki Kisen Kaisha Ltd.
 
32,400
456,512
KDDI Corp.
 
121,800
3,379,803
KDX Realty Investment Corp.
 
349
344,232
Keisei Electric Railway Co.
 
11,100
413,508
Keyence Corp.
 
15,800
6,948,364
Kikkoman Corp.
 
55,500
661,305
Kintetsu Group Holdings Co. Ltd.
 
14,500
372,775
Kirin Holdings Co. Ltd.
 
62,000
905,051
Kobe Bussan Co. Ltd.
 
12,400
267,806
Koito Manufacturing Co. Ltd.
 
15,900
213,867
Komatsu Ltd.
 
75,300
2,248,168
Konami Group Corp.
 
8,100
488,732
Kubota Corp.
 
81,500
1,307,238
Kyocera Corp.
 
104,700
1,276,151
Kyowa Hakko Kirin Co., Ltd.
 
21,800
366,106
Lasertec Corp.
 
6,200
1,337,374
LY Corp.
 
217,400
522,333
M3, Inc.
 
35,730
377,958
Makita Corp.
 
18,100
524,011
Marubeni Corp.
 
116,600
2,077,388
MatsukiyoCocokara & Co.
 
28,200
399,897
Mazda Motor Corp.
 
45,700
517,300
McDonald's Holdings Co. (Japan) Ltd.
 
7,100
312,320
Meiji Holdings Co. Ltd.
 
19,000
425,113
Minebea Mitsumi, Inc.
 
29,100
545,053
Misumi Group, Inc.
 
23,500
382,060
Mitsubishi Chemical Holdings Corp.
 
103,300
602,639
Mitsubishi Corp.
 
280,800
6,421,779
Mitsubishi Electric Corp.
 
157,500
2,745,213
Mitsubishi Estate Co. Ltd.
 
91,800
1,682,209
Mitsubishi Heavy Industries Ltd.
 
261,000
2,333,632
Mitsubishi UFJ Financial Group, Inc.
 
903,900
9,004,070
Mitsubishi UFJ Lease & Finance Co. Ltd.
 
64,300
416,410
Mitsui & Co. Ltd.
 
105,300
5,083,431
Mitsui Chemicals, Inc.
 
13,900
395,634
Mitsui Fudosan Co. Ltd.
 
217,500
2,213,511
Mitsui OSK Lines Ltd.
 
27,800
882,360
Mizuho Financial Group, Inc.
 
196,510
3,798,363
MonotaRO Co. Ltd.
 
20,700
248,087
MS&AD Insurance Group Holdings, Inc.
 
104,700
1,882,406
Murata Manufacturing Co. Ltd.
 
140,400
2,565,413
NEC Corp.
 
20,000
1,448,040
Nexon Co. Ltd.
 
27,500
428,762
Nidec Corp.
 
34,100
1,597,001
Nintendo Co. Ltd.
 
84,600
4,125,858
Nippon Building Fund, Inc.
 
125
477,599
Nippon Express Holdings, Inc.
 
6,200
317,181
Nippon Paint Holdings Co. Ltd.
 
76,000
486,477
Nippon Prologis REIT, Inc.
 
188
324,414
Nippon Sanso Holdings Corp.
 
13,900
412,864
Nippon Steel & Sumitomo Metal Corp.
 
69,700
1,562,599
Nippon Telegraph & Telephone Corp.
 
2,423,000
2,616,022
Nippon Yusen KK
 
37,700
1,070,321
Nissan Chemical Corp.
 
10,200
347,699
Nissan Motor Co. Ltd.
 
197,500
722,791
Nissin Food Holdings Co. Ltd.
 
16,200
432,306
Nitori Holdings Co. Ltd.
 
6,500
869,915
Nitto Denko Corp.
 
11,740
970,730
Nomura Holdings, Inc.
 
245,200
1,395,185
Nomura Real Estate Holdings, Inc.
 
8,600
240,775
Nomura Real Estate Master Fund, Inc.
 
334
319,277
Nomura Research Institute Ltd.
 
31,600
764,654
NTT Data Corp.
 
51,500
805,348
Obayashi Corp.
 
53,100
592,638
OBIC Co. Ltd.
 
5,700
732,259
Odakyu Electric Railway Co. Ltd.
 
26,000
292,310
Olympus Corp.
 
98,400
1,370,685
OMRON Corp.
 
14,100
483,946
Ono Pharmaceutical Co. Ltd.
 
30,000
432,101
Oracle Corp. Japan
 
3,200
240,143
Oriental Land Co. Ltd.
 
88,800
2,450,146
ORIX Corp.
 
95,500
1,954,447
Osaka Gas Co. Ltd.
 
30,600
680,418
Otsuka Corp.
 
18,800
373,897
Otsuka Holdings Co. Ltd.
 
34,100
1,458,009
Pan Pacific International Holdings Ltd.
 
31,090
730,181
Panasonic Holdings Corp.
 
180,000
1,571,122
Rakuten Group, Inc. (a)
 
122,800
590,600
Recruit Holdings Co. Ltd.
 
117,300
5,051,801
Renesas Electronics Corp.
 
119,800
1,945,043
Resona Holdings, Inc.
 
174,100
1,100,965
Ricoh Co. Ltd.
 
44,200
381,316
ROHM Co. Ltd.
 
27,000
388,121
SBI Holdings, Inc. Japan
 
20,100
489,398
Screen Holdings Co. Ltd.
 
6,700
691,287
SCSK Corp.
 
13,000
236,330
Secom Co. Ltd.
 
17,000
1,180,863
Seiko Epson Corp.
 
23,200
381,640
Sekisui Chemical Co. Ltd.
 
31,300
455,354
Sekisui House Ltd.
 
48,600
1,116,845
Seven & i Holdings Co. Ltd.
 
183,900
2,376,209
SG Holdings Co. Ltd.
 
26,300
307,844
Sharp Corp. (a)
 
20,400
107,083
Shimadzu Corp.
 
19,100
518,910
SHIMANO, Inc.
 
6,200
1,007,581
SHIMIZU Corp.
 
43,000
266,362
Shin-Etsu Chemical Co. Ltd.
 
146,700
5,678,601
Shionogi & Co. Ltd.
 
20,100
938,686
Shiseido Co. Ltd.
 
32,800
877,999
Shizuoka Financial Group
 
37,800
352,819
SMC Corp.
 
4,700
2,469,223
SoftBank Corp.
 
233,500
2,816,404
SoftBank Group Corp.
 
83,800
4,121,334
Sompo Holdings, Inc.
 
72,600
1,436,764
Sony Group Corp.
 
102,700
8,488,296
Square Enix Holdings Co. Ltd.
 
7,200
260,260
Subaru Corp.
 
49,400
1,103,052
Sumco Corp.
 
29,300
436,960
Sumitomo Corp.
 
84,400
2,219,481
Sumitomo Electric Industries Ltd.
 
58,200
899,558
Sumitomo Metal Mining Co. Ltd.
 
19,900
664,832
Sumitomo Mitsui Financial Group, Inc.
 
103,500
5,879,195
Sumitomo Mitsui Trust Holdings, Inc.
 
53,700
1,129,034
Sumitomo Realty & Development Co. Ltd.
 
23,300
806,271
Suntory Beverage & Food Ltd.
 
11,200
364,395
Suzuki Motor Corp.
 
128,400
1,495,319
Sysmex Corp.
 
41,400
662,002
T&D Holdings, Inc.
 
40,100
654,325
Taisei Corp.
 
13,700
501,563
Takeda Pharmaceutical Co. Ltd.
 
128,777
3,384,526
TDK Corp.
 
31,676
1,413,098
Terumo Corp.
 
109,600
1,859,269
TIS, Inc.
 
17,700
378,011
Tobu Railway Co. Ltd.
 
15,300
303,559
Toho Co. Ltd.
 
9,300
311,572
Tokio Marine Holdings, Inc.
 
146,700
4,636,658
Tokyo Electric Power Co., Inc. (a)
 
124,800
776,291
Tokyo Electron Ltd.
 
38,400
8,422,883
Tokyo Gas Co. Ltd.
 
30,100
675,061
Tokyu Corp.
 
40,200
475,870
Toppan Holdings, Inc.
 
18,800
446,010
Toray Industries, Inc.
 
115,000
525,633
Toto Ltd.
 
11,800
319,361
Toyota Industries Corp.
 
11,900
1,130,820
Toyota Motor Corp.
 
863,300
19,690,661
Toyota Tsusho Corp.
 
17,300
1,099,933
Trend Micro, Inc.
 
11,000
542,060
Unicharm Corp.
 
32,700
971,620
USS Co. Ltd.
 
34,200
261,264
West Japan Railway Co.
 
36,000
683,332
Yakult Honsha Co. Ltd.
 
20,800
406,843
Yamaha Corp.
 
10,400
219,161
Yamaha Motor Co. Ltd.
 
71,800
669,695
Yamato Holdings Co. Ltd.
 
22,200
293,188
Yaskawa Electric Corp.
 
19,700
811,692
Yokogawa Electric Corp.
 
18,400
406,563
Zensho Holdings Co. Ltd.
 
7,900
306,198
ZOZO, Inc.
 
11,000
236,923
TOTAL JAPAN
 
 
305,774,459
Jordan - 0.0%
 
 
 
Hikma Pharmaceuticals PLC
 
13,913
334,487
Korea (South) - 3.0%
 
 
 
AMOREPACIFIC Corp.
 
1,618
196,658
Celltrion Pharm, Inc.
 
1,468
101,054
Celltrion, Inc.
 
12,468
1,688,221
CJ CheilJedang Corp.
 
644
155,660
Cosmo AM&T Co. Ltd. (a)
 
2,010
216,469
Coway Co. Ltd.
 
4,358
174,121
Db Insurance Co. Ltd.
 
3,837
268,393
Delivery Hero AG (a)(c)
 
14,468
404,779
Doosan Bobcat, Inc.
 
4,282
159,591
Doosan Heavy Industries & Construction Co. Ltd. (a)
 
37,315
449,294
Ecopro BM Co. Ltd.
 
3,995
677,188
Ecopro Co. Ltd.
 
8,165
615,459
Ecopro Materials Co. Ltd.
 
1,082
89,371
GS Holdings Corp.
 
3,684
118,777
Hana Financial Group, Inc.
 
23,966
1,007,980
Hanjin Kal Corp.
 
2,097
89,748
Hankook Tire Co. Ltd.
 
6,238
263,952
Hanmi Pharm Co. Ltd.
 
552
125,395
Hanmi Semiconductor Co. Ltd.
 
3,490
331,411
Hanon Systems
 
15,329
61,219
Hanwha Aerospace Co. Ltd.
 
2,865
433,966
Hanwha Ocean Co. Ltd. (a)
 
6,008
137,956
Hanwha Solutions Corp.
 
8,706
158,007
HD Hyundai Co. Ltd.
 
3,476
167,812
HD Hyundai Heavy Industries Co. Ltd. (a)
 
1,772
174,761
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (a)
 
3,532
332,545
HLB, Inc.
 
9,583
763,539
HMM Co. Ltd.
 
19,026
216,614
HYBE Co. Ltd.
 
1,734
250,824
Hyundai Engineering & Construction Co. Ltd.
 
6,064
154,049
Hyundai Glovis Co. Ltd.
 
1,603
209,262
Hyundai Mobis
 
4,904
800,045
Hyundai Motor Co. Ltd.
 
10,910
1,956,953
Hyundai Steel Co.
 
6,725
155,723
Industrial Bank of Korea
 
23,750
238,103
Kakao Corp.
 
25,511
883,488
Kakao Pay Corp. (a)
 
2,208
55,489
KakaoBank Corp.
 
13,834
247,430
Kangwon Land, Inc.
 
7,221
79,570
KB Financial Group, Inc.
 
31,323
1,694,108
Kia Corp.
 
21,355
1,804,187
Korea Aerospace Industries Ltd.
 
5,740
213,131
Korea Electric Power Corp. (a)
 
20,770
316,193
Korea Investment Holdings Co. Ltd.
 
3,274
157,801
Korea Zinc Co. Ltd.
 
711
236,181
Korean Air Lines Co. Ltd.
 
14,737
221,614
KRAFTON, Inc. (a)
 
2,345
402,460
KT Corp.
 
4,909
122,391
KT&G Corp.
 
8,177
525,416
Kum Yang Co. Ltd. (a)
 
2,879
192,634
Kumho Petro Chemical Co. Ltd.
 
1,259
124,873
L&F Co. Ltd.
 
2,095
244,387
LG Chemical Ltd.
 
3,918
1,122,679
LG Corp.
 
7,643
434,873
LG Display Co. Ltd. (a)
 
29,527
222,866
LG Electronics, Inc.
 
8,581
569,913
LG Energy Solution (a)
 
3,829
1,062,318
LG H & H Co. Ltd.
 
537
161,349
LG Innotek Co. Ltd.
 
1,106
175,310
LG Uplus Corp.
 
17,156
121,509
Lotte Chemical Corp.
 
1,525
117,518
Meritz Financial Holdings Co.
 
8,191
467,030
Mirae Asset Securities Co. Ltd.
 
18,864
102,523
NAVER Corp.
 
10,630
1,398,167
NCSOFT Corp.
 
1,123
141,494
Netmarble Corp. (a)(c)
 
2,084
83,209
NH Investment & Securities Co. Ltd.
 
11,120
99,673
Orion Corp./Republic of Korea
 
1,925
128,468
POSCO
 
5,875
1,691,252
POSCO Chemtech Co. Ltd.
 
2,493
500,132
POSCO ICT Co. Ltd.
 
4,136
119,858
Posco International Corp.
 
4,127
135,734
S-Oil Corp.
 
3,888
202,423
Samsung Biologics Co. Ltd. (a)(c)
 
1,460
818,307
Samsung C&T Corp.
 
6,719
722,504
Samsung E&A Co. Ltd. (a)
 
13,171
249,014
Samsung Electro-Mechanics Co. Ltd.
 
4,553
506,436
Samsung Electronics Co. Ltd.
 
388,832
21,553,356
Samsung Fire & Marine Insurance Co. Ltd.
 
2,474
552,195
Samsung Heavy Industries Co. Ltd. (a)
 
54,821
370,397
Samsung Life Insurance Co. Ltd.
 
6,437
404,479
Samsung SDI Co. Ltd.
 
4,495
1,387,170
Samsung SDS Co. Ltd.
 
3,134
359,024
Samsung Securities Co. Ltd.
 
4,871
132,878
Shinhan Financial Group Co. Ltd.
 
35,712
1,196,468
SK Biopharmaceuticals Co. Ltd. (a)
 
2,484
155,831
SK Bioscience Co. Ltd. (a)
 
2,087
87,654
SK Hynix, Inc.
 
44,515
5,478,025
SK IE Technology Co. Ltd. (a)(c)
 
2,270
95,809
SK Innovation Co., Ltd. (a)
 
4,997
395,309
SK Square Co. Ltd. (a)
 
7,882
431,844
SK Telecom Co. Ltd.
 
4,219
155,589
SK, Inc.
 
2,969
352,803
SKC Co. Ltd.
 
1,543
121,614
Woori Financial Group, Inc.
 
48,867
499,374
Yuhan Corp.
 
4,460
231,348
TOTAL KOREA (SOUTH)
 
 
66,181,978
Kuwait - 0.2%
 
 
 
Agility Global PLC (b)(e)
 
270,456
10,966
Boubyan Bank KSC
 
115,178
220,045
Gulf Bank
 
149,277
124,922
Kuwait Finance House KSCP
 
764,895
1,786,326
Mabanee Co. SAKC
 
54,256
138,676
Mobile Telecommunication Co.
 
163,481
258,770
National Bank of Kuwait
 
643,883
1,806,548
TOTAL KUWAIT
 
 
4,346,253
Luxembourg - 0.1%
 
 
 
ArcelorMittal SA (Netherlands)
 
41,797
1,052,250
Eurofins Scientific SA
 
10,880
668,801
Reinet Investments SCA
 
11,471
267,964
TOTAL LUXEMBOURG
 
 
1,989,015
Macau - 0.1%
 
 
 
Galaxy Entertainment Group Ltd.
 
179,000
803,154
Sands China Ltd. (a)
 
195,600
461,351
TOTAL MACAU
 
 
1,264,505
Malaysia - 0.4%
 
 
 
AMMB Holdings Bhd
 
185,300
162,883
Axiata Group Bhd
 
214,560
127,047
CelcomDigi Bhd
 
309,000
268,218
CIMB Group Holdings Bhd
 
521,843
721,203
Gamuda Bhd
 
153,050
170,120
Genting Bhd
 
165,400
156,333
Genting Malaysia Bhd
 
262,100
144,581
Hong Leong Bank Bhd
 
51,600
208,384
IHH Healthcare Bhd
 
186,800
245,780
Inari Amertron Bhd
 
219,800
141,715
IOI Corp. Bhd
 
201,100
171,179
Kuala Lumpur Kepong Bhd
 
39,544
191,009
Malayan Banking Bhd
 
436,598
889,641
Malaysia Airports Holdings Bhd
 
72,616
151,979
Maxis Bhd
 
177,700
136,489
MISC Bhd
 
105,800
176,291
MR DIY Group M Sdn Bhd (c)
 
271,400
88,711
Nestle (Malaysia) Bhd
 
5,500
146,419
Petronas Chemicals Group Bhd
 
241,500
342,705
Petronas Dagangan Bhd
 
23,300
105,095
Petronas Gas Bhd
 
61,400
231,395
PPB Group Bhd
 
49,540
163,203
Press Metal Aluminium Holdings
 
324,700
364,990
Public Bank Bhd
 
1,178,200
1,016,207
QL Resources Bhd
 
83,900
112,671
RHB Bank Bhd
 
113,667
130,843
Sime Darby Bhd
 
211,800
123,997
Sime Darby Plantation Bhd
 
167,116
156,063
Telekom Malaysia Bhd
 
88,021
114,074
Tenaga Nasional Bhd
 
213,100
533,611
YTL Corp. Bhd
 
259,800
167,973
YTL Power International Bhd
 
192,400
184,444
TOTAL MALAYSIA
 
 
8,045,253
Mexico - 0.7%
 
 
 
Alfa SA de CV Series A
 
242,700
178,511
America Movil S.A.B. de CV Series L
 
1,531,000
1,457,648
Arca Continental S.A.B. de CV
 
41,900
408,758
Banco del Bajio SA (c)
 
61,000
224,903
CEMEX S.A.B. de CV unit (a)
 
1,238,880
981,370
Coca-Cola FEMSA S.A.B. de CV unit
 
43,120
427,783
Fibra Uno Administracion SA de CV
 
234,100
336,034
Fomento Economico Mexicano S.A.B. de CV unit
 
158,400
1,853,097
Gruma S.A.B. de CV Series B
 
15,395
302,369
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B
 
31,615
575,837
Grupo Aeroportuario del Sureste S.A.B. de CV Series B
 
14,760
507,014
Grupo Aeroportuario Norte S.A.B. de CV
 
22,200
245,783
Grupo Bimbo S.A.B. de CV Series A
 
108,900
456,305
Grupo Carso SA de CV Series A1
 
46,400
364,927
Grupo Financiero Banorte S.A.B. de CV Series O
 
212,000
2,098,250
Grupo Financiero Inbursa S.A.B. de CV Series O (a)
 
149,000
412,885
Grupo Mexico SA de CV Series B
 
254,400
1,571,924
Industrias Penoles SA de CV (a)
 
15,620
226,685
Kimberly-Clark de Mexico SA de CV Series A
 
125,400
261,037
Operadora de Sites Mexicanos, SA de CV
 
101,300
114,009
Orbia Advance Corp. S.A.B. de CV
 
78,200
128,456
Prologis Property Mexico SA
 
62,373
245,986
Promotora y Operadora de Infraestructura S.A.B. de CV
 
14,835
149,028
Southern Copper Corp.
 
6,888
803,623
Wal-Mart de Mexico SA de CV Series V
 
426,100
1,589,908
TOTAL MEXICO
 
 
15,922,130
Netherlands - 2.8%
 
 
 
ABN AMRO Bank NV:
 
 
 
 GDR (Bearer) (c)
 
39,258
632,213
 rights (a)(b)
 
39,258
37,288
Adyen BV (a)(c)
 
1,769
2,119,261
AEGON NV
 
116,728
726,964
Akzo Nobel NV
 
13,784
914,097
Argenx SE (a)
 
4,837
1,806,927
ASM International NV (Netherlands)
 
3,837
2,437,253
ASML Holding NV (Netherlands)
 
32,827
29,171,958
ASR Nederland NV
 
12,947
648,986
BE Semiconductor Industries NV
 
6,309
844,987
Euronext NV (c)
 
6,879
621,438
EXOR NV
 
7,549
827,381
Heineken Holding NV
 
10,344
834,005
Heineken NV (Bearer)
 
23,330
2,273,167
IMCD NV
 
4,658
707,127
ING Groep NV (Certificaten Van Aandelen)
 
270,556
4,277,564
JDE Peet's BV
 
7,596
168,776
Koninklijke Ahold Delhaize NV
 
77,515
2,352,904
Koninklijke KPN NV
 
275,795
1,002,275
Koninklijke Philips Electronics NV
 
63,367
1,682,786
NN Group NV
 
22,108
1,022,785
OCI NV
 
8,684
234,469
Randstad NV
 
8,724
439,444
Universal Music Group NV
 
66,770
1,973,817
Wolters Kluwer NV
 
20,202
3,034,510
TOTAL NETHERLANDS
 
 
60,792,382
New Zealand - 0.1%
 
 
 
Auckland International Airport Ltd.
 
108,779
499,144
Fisher & Paykel Healthcare Corp.
 
47,068
788,283
Mercury Nz Ltd.
 
55,501
208,288
Meridian Energy Ltd.
 
107,492
379,112
Spark New Zealand Ltd.
 
151,801
423,257
Xero Ltd. (a)
 
11,799
916,053
TOTAL NEW ZEALAND
 
 
3,214,137
Norway - 0.3%
 
 
 
Aker BP ASA
 
25,486
624,044
DNB Bank ASA
 
75,553
1,320,146
Equinor ASA
 
73,498
1,955,663
Gjensidige Forsikring ASA
 
16,933
272,397
Kongsberg Gruppen ASA
 
7,071
500,320
Mowi ASA
 
37,442
660,464
Norsk Hydro ASA
 
106,958
657,298
Orkla ASA
 
57,294
390,952
Salmar ASA
 
5,443
343,725
Telenor ASA
 
50,753
584,355
TOTAL NORWAY
 
 
7,309,364
Peru - 0.1%
 
 
 
Compania de Minas Buenaventura SAA sponsored ADR
 
16,730
289,429
Credicorp Ltd. (United States)
 
5,540
917,479
TOTAL PERU
 
 
1,206,908
Philippines - 0.2%
 
 
 
Aboitiz Equity Ventures, Inc.
 
132,680
96,718
Ayala Corp.
 
22,010
234,155
Ayala Land, Inc.
 
557,400
276,547
Bank of the Philippine Islands (BPI)
 
153,196
335,694
BDO Unibank, Inc.
 
192,226
489,605
International Container Terminal Services, Inc.
 
82,610
472,878
JG Summit Holdings, Inc.
 
205,051
119,824
Jollibee Food Corp.
 
35,810
145,728
Manila Electric Co.
 
23,620
149,793
Metropolitan Bank & Trust Co.
 
139,663
169,134
PLDT, Inc.
 
5,890
137,284
SM Investments Corp.
 
20,205
332,015
SM Prime Holdings, Inc.
 
824,100
398,544
Universal Robina Corp.
 
69,290
122,895
TOTAL PHILIPPINES
 
 
3,480,814
Poland - 0.3%
 
 
 
Allegro.eu SA (a)(c)
 
47,330
396,886
Bank Polska Kasa Opieki SA
 
14,774
615,523
Budimex SA
 
993
168,299
CD Projekt SA
 
5,059
147,789
Dino Polska SA (a)(c)
 
3,962
380,826
KGHM Polska Miedz SA (Bearer)
 
11,610
402,561
LPP SA
 
91
352,882
mBank SA (a)
 
1,157
195,610
Orlen SA
 
47,146
772,207
PGE Polska Grupa Energetyczna SA (a)
 
72,720
109,141
Powszechna Kasa Oszczednosci Bank SA
 
71,209
1,065,572
Powszechny Zaklad Ubezpieczen SA
 
49,254
622,657
Santander Bank Polska SA
 
2,916
403,139
TOTAL POLAND
 
 
5,633,092
Portugal - 0.1%
 
 
 
Energias de Portugal SA
 
256,522
965,279
Galp Energia SGPS SA Class B
 
38,148
822,373
Jeronimo Martins SGPS SA
 
22,812
471,075
TOTAL PORTUGAL
 
 
2,258,727
Qatar - 0.2%
 
 
 
Barwa Real Estate Co.
 
163,317
126,043
Dukhan Bank
 
155,481
164,449
Industries Qatar QSC
 
123,836
416,641
Masraf al Rayan
 
466,695
321,982
Mesaieed Petrochemical Holding Co.
 
446,148
235,144
Ooredoo QSC
 
63,327
173,754
Qatar Electricity & Water Co.
 
34,203
143,256
Qatar Fuel Co.
 
47,683
189,370
Qatar Gas Transport Co. Ltd. (Nakilat)
 
206,245
226,524
Qatar International Islamic Bank QSC
 
84,043
232,209
Qatar Islamic Bank
 
144,721
727,381
Qatar National Bank SAQ
 
377,368
1,437,543
The Commercial Bank of Qatar
 
272,819
311,183
TOTAL QATAR
 
 
4,705,479
Romania - 0.0%
 
 
 
NEPI Rockcastle PLC
 
45,964
308,940
Russia - 0.0%
 
 
 
Alrosa Co. Ltd. (a)(e)
 
120,680
19,991
Gazprom OAO (a)(e)
 
601,730
62,695
Inter Rao Ues JSC (a)(e)
 
1,756,400
9,642
LUKOIL PJSC (a)(e)
 
21,149
6,518
MMC Norilsk Nickel PJSC (a)(e)
 
249,900
16,548
MMC Norilsk Nickel PJSC sponsored ADR (a)(e)
 
6,705
16,092
Moscow Exchange MICEX-RTS OAO (a)(e)
 
72,930
13,959
Novatek PJSC GDR (Reg. S) (a)(e)
 
4,511
220,137
Novolipetsk Steel OJSC (a)(e)
 
71,070
679
Ozon Holdings PLC ADR (a)(e)
 
2,304
4,806
PhosAgro PJSC:
 
 
 
 GDR (Reg. S) (a)(e)
 
6,442
132
 sponsored GDR (Reg. S) (a)(e)
 
42
1
Polyus PJSC (a)(e)
 
1,749
4,095
Rosneft Oil Co. OJSC (a)(e)
 
55,210
9,194
Sberbank of Russia (a)(e)
 
551,355
3,375
Severstal PAO (a)(e)
 
7,553
168
Severstal PAO GDR (Reg. S) (a)(e)
 
2,375
56
Surgutneftegas OJSC (a)(e)
 
351,800
4,286
Tatneft PAO (a)(e)
 
71,609
8,868
TKS Holding MKPAO JSC (a)(e)
 
393
498
United Co. RUSAL International PJSC (a)(e)
 
141,950
17,034
VK Co. Ltd. (a)(e)
 
3,049
902
VK Co. Ltd. GDR (Reg. S) (a)(e)
 
3,849
0
VTB Bank OJSC (a)(e)
 
152,910,000
5,817
Yandex NV Class A (a)(e)
 
15,310
56,915
TOTAL RUSSIA
 
 
482,408
Saudi Arabia - 1.1%
 
 
 
ACWA Power Co.
 
7,662
817,149
Ades Holding Co.
 
26,714
142,309
Advanced Petrochemicals Co.
 
10,174
115,829
Al Rajhi Bank
 
159,956
3,407,584
Alinma Bank
 
98,696
877,596
Almarai Co. Ltd.
 
20,962
317,454
Arab National Bank
 
54,862
451,991
Arabian Internet and Communications Services Co. Ltd.
 
1,864
172,952
Bank Al-Jazira
 
39,261
169,580
Bank Albilad
 
49,758
473,620
Banque Saudi Fransi
 
47,988
468,928
Bupa Arabia for Cooperative Insurance Co.
 
6,682
429,717
Dallah Healthcare Co.
 
2,673
116,168
Dar Al Arkan Real Estate Development Co. (a)
 
42,606
151,085
Dr Sulaiman Al Habib Medical Services Group Co.
 
7,094
587,478
Elm Co.
 
1,932
471,127
Etihad Etisalat Co.
 
30,999
429,784
Jarir Marketing Co.
 
50,432
182,064
Luberef
 
3,940
159,256
Mobile Telecommunications Co. Saudi Arabia
 
35,596
114,648
Mouwasat Medical Services Co.
 
8,326
298,356
Nahdi Medical Co.
 
3,066
112,974
Power & Water Utility Co. for Jubail & Yanbu
 
5,844
101,280
Riyad Bank
 
120,775
891,982
Sabic Agriculture-Nutrients Co.
 
19,029
587,522
Sahara International Petrochemical Co.
 
30,846
282,093
Saudi Arabian Mining Co.
 
105,659
1,425,464
Saudi Arabian Oil Co. (c)
 
215,715
1,731,195
Saudi Awwal Bank
 
81,110
882,336
Saudi Basic Industries Corp.
 
73,661
1,659,562
Saudi Electricity Co.
 
68,714
341,133
Saudi Industrial Investment Group
 
28,954
179,254
Saudi Investment Bank/The
 
38,237
172,090
Saudi Kayan Petrochemical Co. (a)
 
57,658
144,045
Saudi Research & Marketing Group (a)
 
2,990
191,967
Saudi Tadawul Group Holding Co.
 
3,999
282,338
Saudi Telecom Co.
 
163,857
1,644,861
The Co. for Cooperative Insurance
 
6,128
243,447
The Saudi National Bank
 
239,992
2,405,935
The Savola Group
 
21,657
291,601
Yanbu National Petrochemical Co.
 
21,584
222,999
TOTAL SAUDI ARABIA
 
 
24,148,753
Singapore - 0.9%
 
 
 
CapitaLand Ascendas REIT
 
305,658
578,984
CapitaLand Integrated Commercial Trust
 
436,123
621,691
CapitaLand Investment Ltd.
 
214,145
414,125
City Developments Ltd.
 
39,500
177,036
DBS Group Holdings Ltd.
 
162,058
4,125,577
Genting Singapore Ltd.
 
501,800
334,886
Grab Holdings Ltd. (a)
 
153,560
537,460
Jardine Cycle & Carriage Ltd.
 
7,700
148,597
Keppel Ltd.
 
117,500
587,725
Mapletree Logistics Trust (REIT)
 
299,029
293,438
Mapletree Pan Asia Commercial Trust
 
187,600
171,912
Oversea-Chinese Banking Corp. Ltd.
 
274,852
2,853,396
Sea Ltd. ADR (a)
 
30,072
1,900,250
Seatrium Ltd. (a)
 
3,465,914
247,591
Sembcorp Industries Ltd.
 
74,600
291,542
Singapore Airlines Ltd.
 
121,000
577,366
Singapore Exchange Ltd.
 
69,800
476,142
Singapore Technologies Engineering Ltd.
 
130,600
383,635
Singapore Telecommunications Ltd.
 
676,300
1,172,890
STMicroelectronics NV (France)
 
55,931
2,214,022
United Overseas Bank Ltd.
 
103,103
2,287,938
TOTAL SINGAPORE
 
 
20,396,203
South Africa - 0.9%
 
 
 
Absa Group Ltd.
 
68,534
528,471
Anglo American Platinum Ltd.
 
5,223
181,943
Anglo American PLC (United Kingdom)
 
103,626
3,386,236
Aspen Pharmacare Holdings Ltd.
 
31,346
373,422
Bid Corp. Ltd.
 
27,099
617,664
Bidvest Group Ltd./The
 
23,873
311,329
Capitec Bank Holdings Ltd.
 
7,108
879,707
Clicks Group Ltd.
 
19,483
303,132
Discovery Ltd.
 
44,588
284,056
Exxaro Resources Ltd.
 
19,387
185,748
FirstRand Ltd.
 
411,373
1,420,122
Gold Fields Ltd.
 
72,926
1,179,773
Harmony Gold Mining Co. Ltd.
 
45,709
395,667
Impala Platinum Holdings Ltd.
 
71,801
319,626
Kumba Iron Ore Ltd.
 
5,006
122,713
MTN Group Ltd.
 
137,151
657,338
Naspers Ltd. Class N
 
14,919
2,855,163
Nedbank Group Ltd.
 
36,110
439,068
Northam Platinum Holdings Ltd.
 
29,760
197,180
Old Mutual Ltd.
 
372,821
219,050
OUTsurance Group Ltd.
 
68,184
146,583
Pepkor Holdings Ltd. (c)
 
156,705
147,827
Remgro Ltd.
 
41,448
270,066
Sanlam Ltd.
 
142,115
514,084
Sasol Ltd.
 
47,668
334,883
Shoprite Holdings Ltd.
 
40,892
545,594
Sibanye-Stillwater Ltd.
 
221,829
253,185
Standard Bank Group Ltd. (d)
 
109,123
1,024,748
Vodacom Group Ltd.
 
51,859
248,164
Woolworths Holdings Ltd.
 
77,181
245,179
TOTAL SOUTH AFRICA
 
 
18,587,721
Spain - 1.6%
 
 
 
Acciona SA
 
1,935
224,469
ACS Actividades de Construccion y Servicios SA
 
17,215
690,414
Aena SME SA (c)
 
6,078
1,113,073
Amadeus IT Holding SA Class A
 
36,680
2,328,225
Banco Bilbao Vizcaya Argentaria SA
 
475,177
5,138,550
Banco Santander SA (Spain) (d)
 
1,317,369
6,429,163
CaixaBank SA
 
305,521
1,611,183
Cellnex Telecom SA (c)
 
37,541
1,240,906
EDP Renovaveis SA
 
25,339
348,028
Enagas SA
 
21,120
310,140
Endesa SA
 
25,723
469,422
Grifols SA (a)
 
24,738
228,258
Iberdrola SA
 
497,924
6,105,333
Industria de Diseno Textil SA
 
88,661
4,054,425
Redeia Corp. SA
 
33,000
551,155
Repsol SA
 
99,095
1,555,402
Telefonica SA
 
399,241
1,788,439
TOTAL SPAIN
 
 
34,186,585
Sweden - 1.9%
 
 
 
Alfa Laval AB
 
23,598
1,014,120
ASSA ABLOY AB (B Shares)
 
81,435
2,151,628
Atlas Copco AB:
 
 
 
 (A Shares)
 
215,276
3,770,793
 (B Shares)
 
130,325
1,980,821
Beijer Ref AB (B Shares)
 
30,977
445,384
Boliden AB
 
22,359
746,828
Epiroc AB:
 
 
 
 (A Shares)
 
53,458
988,298
 (B Shares)
 
32,131
538,218
EQT AB
 
30,439
834,971
Essity AB (B Shares)
 
49,477
1,232,839
Evolution AB (c)
 
14,920
1,667,947
Fastighets AB Balder (a)
 
53,687
345,494
Getinge AB (B Shares)
 
18,964
404,390
H&M Hennes & Mauritz AB (B Shares) (d)
 
52,859
847,776
Hexagon AB (B Shares)
 
169,125
1,791,708
Holmen AB (B Shares)
 
6,625
259,460
Husqvarna AB (B Shares)
 
29,450
242,326
Industrivarden AB:
 
 
 
 (A Shares)
 
10,572
342,666
 (C Shares)
 
11,951
387,038
Indutrade AB
 
22,407
524,980
Investment AB Latour (B Shares)
 
12,405
303,360
Investor AB:
 
 
 
 (A Shares)
 
4,514
110,921
 (B Shares)
 
135,681
3,353,120
L E Lundbergforetagen AB
 
6,301
313,323
Lifco AB
 
18,812
460,894
Nibe Industrier AB (B Shares)
 
121,734
569,986
Saab AB (B Shares)
 
6,483
516,856
Sagax AB
 
16,881
426,146
Sandvik AB
 
86,674
1,751,506
Securitas AB (B Shares)
 
39,732
401,812
Skandinaviska Enskilda Banken AB (A Shares)
 
129,239
1,703,970
Skanska AB (B Shares)
 
27,408
477,136
SKF AB (B Shares)
 
28,121
586,896
Svenska Cellulosa AB SCA (B Shares)
 
48,919
719,332
Svenska Handelsbanken AB (A Shares)
 
119,059
1,020,970
Swedbank AB (A Shares) (d)
 
69,199
1,333,696
Swedish Orphan Biovitrum AB (a)
 
15,828
409,904
Tele2 AB (B Shares)
 
45,133
422,236
Telefonaktiebolaget LM Ericsson (B Shares)
 
238,684
1,211,294
Telia Co. AB
 
191,306
438,495
Volvo AB:
 
 
 
 (A Shares)
 
16,890
448,749
 (B Shares)
 
121,696
3,129,528
Volvo Car AB
 
58,395
185,087
TOTAL SWEDEN
 
 
40,812,902
Switzerland - 3.7%
 
 
 
ABB Ltd. (Reg.)
 
130,183
6,325,389
Adecco SA (Reg.)
 
13,146
461,057
Alcon, Inc. (Switzerland)
 
40,718
3,149,361
Avolta AG (a)
 
7,875
297,808
Bachem Holding AG (B Shares)
 
2,797
243,872
Baloise Holdings AG
 
3,767
568,789
Banque Cantonale Vaudoise
 
2,489
260,475
Barry Callebaut AG
 
296
477,850
BKW AG
 
1,748
259,181
Clariant AG (Reg.)
 
17,004
254,898
Compagnie Financiere Richemont SA Series A
 
43,786
6,052,409
DSM-Firmenich AG
 
15,196
1,714,155
Ems-Chemie Holding AG
 
594
476,234
Geberit AG (Reg.)
 
2,724
1,462,678
Givaudan SA
 
753
3,232,350
Helvetia Holding AG (Reg.)
 
3,054
399,670
Julius Baer Group Ltd.
 
16,842
903,714
Kuehne & Nagel International AG
 
4,447
1,178,933
Lindt & Spruengli AG
 
9
1,041,719
Lindt & Spruengli AG (participation certificate)
 
80
923,361
Logitech International SA (Reg.)
 
13,418
1,051,837
Lonza Group AG
 
6,070
3,350,602
Novartis AG
 
166,833
16,192,403
Partners Group Holding AG
 
1,846
2,388,705
Sandoz Group AG
 
33,536
1,139,786
Schindler Holding AG:
 
 
 
 (participation certificate)
 
3,281
820,919
 (Reg.)
 
1,911
466,706
SGS SA (Reg.)
 
12,753
1,124,567
Sig Group AG
 
24,940
499,207
Sika AG
 
12,429
3,560,028
Sonova Holding AG
 
4,148
1,152,460
Straumann Holding AG
 
9,116
1,219,764
Swatch Group AG (Bearer)
 
2,313
485,987
Swatch Group AG (Bearer) (Reg.)
 
4,311
179,146
Swiss Life Holding AG
 
2,408
1,626,726
Swiss Prime Site AG
 
6,187
572,764
Swisscom AG
 
2,116
1,158,995
Temenos AG
 
5,279
330,207
UBS Group AG
 
267,524
7,063,157
VAT Group AG (c)
 
2,206
1,110,379
Zurich Insurance Group Ltd.
 
11,893
5,746,936
TOTAL SWITZERLAND
 
 
80,925,184
Taiwan - 4.5%
 
 
 
Accton Technology Corp.
 
41,000
573,364
Acer, Inc.
 
236,000
324,148
Advantech Co. Ltd.
 
37,674
437,423
Alchip Technologies Ltd.
 
6,000
564,884
ASE Technology Holding Co. Ltd.
 
251,500
1,129,386
Asia Cement Corp.
 
180,000
240,988
ASUSTeK Computer, Inc.
 
57,000
746,098
AUO Corp.
 
549,600
306,768
Catcher Technology Co. Ltd.
 
48,000
320,055
Cathay Financial Holding Co. Ltd.
 
776,872
1,199,183
Chailease Holding Co. Ltd.
 
123,075
647,976
Chang Hwa Commercial Bank
 
450,130
251,252
Cheng Shin Rubber Industry Co. Ltd.
 
162,000
233,469
China Airlines Ltd.
 
252,000
161,094
China Development Financial Ho (a)
 
1,282,313
535,110
China Steel Corp.
 
968,000
736,132
Chunghwa Telecom Co. Ltd.
 
309,000
1,172,370
Compal Electronics, Inc.
 
343,000
373,465
CTBC Financial Holding Co. Ltd.
 
1,443,000
1,503,409
Delta Electronics, Inc.
 
159,000
1,554,365
E Ink Holdings, Inc.
 
69,000
440,348
E.SUN Financial Holdings Co. Ltd.
 
1,152,872
967,039
ECLAT Textile Co. Ltd.
 
14,000
219,886
eMemory Technology, Inc.
 
5,000
335,465
EVA Airways Corp.
 
228,000
247,449
Evergreen Marine Corp. (Taiwan)
 
84,343
489,208
Far Eastern New Century Corp.
 
253,000
251,930
Far EasTone Telecommunications Co. Ltd.
 
140,000
346,640
Feng Tay Enterprise Co. Ltd.
 
42,584
211,356
First Financial Holding Co. Ltd.
 
893,519
747,725
Formosa Chemicals & Fibre Corp.
 
287,000
486,930
Formosa Petrochemical Corp.
 
89,000
196,326
Formosa Plastics Corp.
 
309,000
648,035
Fubon Financial Holding Co. Ltd.
 
634,317
1,339,524
Gigabyte Technology Co. Ltd.
 
42,000
378,099
Global Unichip Corp.
 
8,000
331,662
GlobalWafers Co. Ltd.
 
18,000
285,496
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
1,015,800
4,826,966
Hotai Motor Co. Ltd.
 
25,400
481,140
Hua Nan Financial Holdings Co. Ltd.
 
731,281
528,815
Innolux Corp.
 
700,541
304,124
Inventec Corp.
 
218,000
349,098
Largan Precision Co. Ltd.
 
8,000
532,316
Lite-On Technology Corp.
 
162,000
489,467
MediaTek, Inc.
 
124,000
3,732,099
Mega Financial Holding Co. Ltd.
 
940,572
1,150,539
Micro-Star International Co. Ltd.
 
58,000
281,710
Nan Ya Plastics Corp.
 
384,000
665,594
Nan Ya Printed Circuit Board Corp.
 
18,000
102,309
Nanya Technology Corp.
 
98,000
197,456
Nien Made Enterprise Co. Ltd.
 
14,000
163,318
Novatek Microelectronics Corp.
 
47,000
886,496
Pegatron Corp.
 
163,000
485,271
PharmaEssentia Corp. (a)
 
19,000
170,534
Pou Chen Corp.
 
175,000
193,358
Powerchip Semiconductor Manufacturing Corp.
 
237,725
165,798
President Chain Store Corp.
 
46,000
386,155
Quanta Computer, Inc.
 
221,000
1,731,378
Realtek Semiconductor Corp.
 
40,000
629,884
Ruentex Development Co. Ltd.
 
120,575
141,615
Shin Kong Financial Holding Co. Ltd. (a)
 
1,111,393
293,173
Sinopac Financial Holdings Co.
 
869,686
584,054
Synnex Technology International Corp.
 
103,000
251,310
Taishin Financial Holdings Co. Ltd.
 
897,482
493,248
Taiwan Business Bank
 
484,576
251,139
Taiwan Cement Corp.
 
546,667
536,390
Taiwan Cooperative Financial Holding Co. Ltd.
 
844,494
677,452
Taiwan High Speed Rail Corp.
 
156,000
142,769
Taiwan Mobile Co. Ltd.
 
149,000
474,704
Taiwan Semiconductor Manufacturing Co. Ltd.
 
2,006,000
47,945,774
The Shanghai Commercial & Savings Bank Ltd.
 
320,312
455,381
Uni-President Enterprises Corp.
 
395,000
924,867
Unimicron Technology Corp.
 
111,000
612,741
United Microelectronics Corp.
 
923,000
1,415,597
Vanguard International Semiconductor Corp.
 
70,000
183,109
Voltronic Power Technology Corp.
 
5,000
236,166
Walsin Lihwa Corp.
 
240,162
270,796
Wan Hai Lines Ltd.
 
57,145
88,604
Winbond Electronics Corp.
 
244,080
193,226
Wistron Corp.
 
214,000
731,446
Wiwynn Corp.
 
7,629
541,755
WPG Holding Co. Ltd.
 
129,400
348,866
Yageo Corp.
 
27,213
518,152
Yang Ming Marine Transport Corp.
 
136,000
217,048
Yuanta Financial Holding Co. Ltd.
 
818,367
766,293
Zhen Ding Technology Holding Ltd.
 
51,000
180,197
TOTAL TAIWAN
 
 
98,863,754
Thailand - 0.4%
 
 
 
Advanced Info Service PCL (For. Reg.)
 
27,500
145,716
Advanced Information Service PCL NVDR
 
69,900
370,383
Airports of Thailand PCL:
 
 
 
 (For. Reg.)
 
171,900
300,995
 NVDR
 
175,500
307,299
Asset World Corp. PCL:
 
 
 
 (For. Reg.)
 
235,300
27,703
 NVDR
 
388,600
45,751
Bangkok Dusit Medical Services PCL:
 
 
 
 (For. Reg.)
 
292,100
227,482
 NVDR
 
615,000
478,950
Bangkok Expressway and Metro PCL:
 
 
 
 (For. Reg.)
 
154,900
34,486
 NVDR
 
443,300
98,694
BTS Group Holdings PCL:
 
 
 
 (For. Reg.)
 
53,600
9,086
 NVDR
 
576,500
98,061
Bumrungrad Hospital PCL:
 
 
 
 (For. Reg.)
 
10,800
71,091
 NVDR
 
34,100
224,463
Central Pattana PCL:
 
 
 
 (For. Reg.)
 
74,500
126,709
 NVDR
 
92,300
156,983
Central Retail Corp. PCL:
 
 
 
 (For. Reg.)
 
96,317
88,850
 NVDR
 
33,600
30,995
Charoen Pokphand Foods PCL:
 
 
 
 (For. Reg.)
 
110,100
58,563
 NVDR
 
181,200
96,382
CP ALL PCL:
 
 
 
 (For. Reg.)
 
143,900
221,801
 NVDR
 
330,900
510,034
CP Axtra PCL NVDR
 
180,200
156,763
Delta Electronics PCL:
 
 
 
 (For. Reg.)
 
16,000
29,762
 NVDR
 
235,500
438,064
Energy Absolute PCL:
 
 
 
 (For. Reg.)
 
54,700
44,831
 NVDR
 
79,000
64,747
Global Power Synergy Public Co. Ltd.:
 
 
 
 (For. Reg.)
 
24,100
31,511
 NVDR
 
33,600
43,932
Gulf Energy Development PCL:
 
 
 
 (For. Reg.)
 
68,700
74,010
 NVDR
 
171,200
184,432
Home Product Center PCL:
 
 
 
 (For. Reg.)
 
187,500
52,197
 NVDR
 
295,000
82,124
Indorama Ventures PCL:
 
 
 
 (For. Reg.)
 
43,100
27,588
 NVDR
 
95,400
61,064
Intouch Holdings PCL:
 
 
 
 (For. Reg.)
 
16,900
30,358
 NVDR
 
60,000
107,778
Kasikornbank PCL NVDR
 
46,000
161,039
Krung Thai Bank PCL:
 
 
 
 (For. Reg.)
 
95,600
43,120
 NVDR
 
176,200
79,474
Krungthai Card PCL:
 
 
 
 (For. Reg.)
 
27,500
31,622
 NVDR
 
52,500
60,369
Land & House PCL:
 
 
 
 (For. Reg.)
 
249,000
49,843
 NVDR
 
396,100
79,289
Minor International PCL:
 
 
 
 (For. Reg.)
 
98,681
87,253
 NVDR
 
191,141
169,006
Muangthai Leasing PCL:
 
 
 
 (For. Reg.)
 
19,800
24,031
 NVDR
 
40,700
49,397
PTT Exploration and Production PCL:
 
 
 
 (For. Reg.)
 
33,000
137,677
 NVDR
 
79,800
332,929
PTT Global Chemical PCL NVDR
 
175,500
172,634
PTT Oil & Retail Business PCL NVDR
 
240,300
120,331
PTT PCL:
 
 
 
 (For. Reg.)
 
314,700
284,437
 NVDR
 
508,900
459,961
SCB X PCL:
 
 
 
 (For. Reg.)
 
19,000
54,264
 NVDR
 
47,100
134,516
SCG Packaging PCL NVDR
 
98,500
85,520
Siam Cement PCL:
 
 
 
 (For. Reg.)
 
25,900
173,046
 NVDR
 
40,000
267,253
Thai Oil PCL:
 
 
 
 (For. Reg.)
 
22,133
32,162
 NVDR
 
72,866
105,884
TMBThanachart Bank PCL NVDR
 
1,881,300
91,426
True Corp. PCL (a)
 
319,517
65,711
True Corp. PCL NVDR (a)
 
513,986
105,705
TOTAL THAILAND
 
 
8,617,537
Turkey - 0.2%
 
 
 
Akbank TAS
 
259,288
475,963
Aselsan A/S
 
106,275
199,350
Bim Birlesik Magazalar A/S JSC
 
37,143
443,841
Coca-Cola Icecek Sanayi A/S
 
5,958
133,376
Eregli Demir ve Celik Fabrikalari T.A.S.
 
106,452
141,536
Ford Otomotiv Sanayi A/S
 
6,070
208,792
Haci Omer Sabanci Holding A/S
 
80,547
229,557
Koc Holding A/S
 
63,608
444,070
Pegasus Hava Tasimaciligi A/S (a)
 
3,616
115,449
Sasa Polyester Sanayi A/S
 
104,365
133,025
Tofas Turk Otomobil Fabrikasi A/S
 
10,330
87,794
Turk Hava Yollari AO (a)
 
46,749
470,575
Turkcell Iletisim Hizmet A/S
 
95,364
237,922
Turkiye Is Bankasi A/S Series C
 
686,663
290,684
Turkiye Petrol Rafinerileri A/S
 
79,705
481,879
Turkiye Sise ve Cam Fabrikalari A/S
 
109,191
169,925
Yapi ve Kredi Bankasi A/S
 
262,599
261,737
TOTAL TURKEY
 
 
4,525,475
United Arab Emirates - 0.3%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
237,562
540,075
Abu Dhabi Islamic Bank
 
118,475
359,983
Abu Dhabi National Oil Co. for Distribution PJSC
 
265,443
252,225
Aldar Properties PJSC
 
311,307
462,778
Americana Restaurants International PLC
 
200,980
182,217
Dubai Islamic Bank Pakistan Ltd.
 
235,030
355,786
Emaar Properties PJSC
 
540,608
1,208,416
Emirates NBD Bank PJSC
 
155,904
721,601
Emirates Telecommunications Corp.
 
286,172
1,324,546
First Abu Dhabi Bank PJSC
 
362,514
1,231,772
Multiply Group (a)
 
305,955
191,592
NMC Health PLC (a)(e)
 
2,259
0
TOTAL UNITED ARAB EMIRATES
 
 
6,830,991
United Kingdom - 6.5%
 
 
 
3i Group PLC
 
79,131
2,827,149
Abrdn PLC
 
155,114
283,950
Admiral Group PLC
 
20,971
715,116
AngloGold Ashanti PLC
 
34,290
788,622
Ashtead Group PLC
 
35,657
2,602,915
Associated British Foods PLC
 
27,709
919,608
AstraZeneca PLC (United Kingdom)
 
126,205
19,088,374
Auto Trader Group PLC (c)
 
73,962
641,212
Aviva PLC
 
224,532
1,306,586
BAE Systems PLC
 
247,062
4,109,189
Barclays PLC
 
1,234,925
3,113,610
Barratt Developments PLC
 
79,597
452,247
Berkeley Group Holdings PLC
 
8,558
504,099
British American Tobacco PLC (United Kingdom)
 
163,843
4,809,821
BT Group PLC
 
519,574
666,114
Bunzl PLC
 
27,528
1,057,383
Burberry Group PLC
 
28,970
414,521
Centrica PLC
 
433,724
693,438
CK Hutchison Holdings Ltd.
 
220,500
1,070,919
Coca-Cola European Partners PLC
 
16,771
1,207,847
Compass Group PLC
 
138,912
3,863,660
Croda International PLC
 
10,710
616,942
DCC PLC (United Kingdom)
 
8,073
553,306
Diageo PLC
 
181,733
6,280,634
Entain PLC
 
51,286
504,088
Flutter Entertainment PLC (a)
 
14,422
2,689,636
Halma PLC
 
31,108
857,883
Hargreaves Lansdown PLC
 
29,616
301,160
HSBC Holdings PLC (United Kingdom)
 
1,559,502
13,517,690
Imperial Brands PLC
 
68,205
1,558,495
Informa PLC
 
112,559
1,119,278
InterContinental Hotel Group PLC
 
13,473
1,314,076
Intertek Group PLC
 
13,191
814,910
J Sainsbury PLC
 
134,043
441,178
JD Sports Fashion PLC
 
214,576
309,951
Kingfisher PLC
 
155,562
479,181
Land Securities Group PLC
 
57,648
468,582
Legal & General Group PLC
 
489,585
1,443,756
Lloyds Banking Group PLC
 
5,179,971
3,343,068
London Stock Exchange Group PLC
 
33,784
3,724,352
M&G PLC
 
187,370
470,832
Melrose Industries PLC
 
109,826
867,039
National Grid PLC
 
300,929
3,947,335
NatWest Group PLC
 
465,451
1,756,791
Next PLC
 
9,875
1,111,525
Ocado Group PLC (a)
 
47,803
210,915
Pearson PLC
 
51,310
622,587
Pepco Group NV (a)
 
14,419
68,569
Persimmon PLC
 
25,871
421,545
Phoenix Group Holdings PLC
 
63,382
387,917
Reckitt Benckiser Group PLC
 
58,122
3,249,427
RELX PLC (London Stock Exchange)
 
153,191
6,294,140
Rentokil Initial PLC
 
205,739
1,038,565
Rolls-Royce Holdings PLC (a)
 
685,782
3,516,708
Sage Group PLC
 
83,249
1,212,917
Schroders PLC
 
67,737
298,613
Segro PLC
 
103,737
1,099,216
Severn Trent PLC
 
21,579
665,203
Smith & Nephew PLC
 
71,978
872,061
Smiths Group PLC
 
28,066
566,729
Spirax-Sarco Engineering PLC
 
6,044
667,999
SSE PLC
 
89,048
1,850,987
St. James's Place PLC
 
45,699
248,741
Standard Chartered PLC (United Kingdom)
 
184,905
1,588,619
Taylor Wimpey PLC
 
286,576
472,322
Tesco PLC
 
574,245
2,120,153
Unilever PLC
 
203,408
10,522,460
United Utilities Group PLC
 
55,162
719,950
Vodafone Group PLC
 
1,869,722
1,576,740
Vodafone Group PLC sponsored ADR
 
1,083
9,108
Whitbread PLC
 
15,038
595,103
Wise PLC (a)
 
49,316
478,501
WPP PLC
 
86,425
866,252
TOTAL UNITED KINGDOM
 
 
141,870,115
United States of America - 5.7%
 
 
 
BP PLC
 
1,393,573
8,982,466
Brookfield Renewable Corp.
 
10,625
246,822
BRP, Inc.
 
2,765
186,027
CNH Industrial NV
 
111
1,263
CRH PLC
 
56,518
4,403,992
CSL Ltd.
 
39,368
6,994,754
CyberArk Software Ltd. (a)
 
3,387
810,340
Experian PLC
 
74,720
3,013,752
Ferrovial SE
 
42,171
1,521,165
GFL Environmental, Inc.
 
18,690
596,413
GSK PLC
 
335,066
6,951,587
Haleon PLC
 
563,957
2,381,784
Holcim AG
 
42,400
3,549,210
James Hardie Industries PLC CDI (a)
 
35,877
1,233,378
JBS SA
 
63,600
287,098
Legend Biotech Corp. ADR (a)
 
6,083
266,070
Monday.com Ltd. (a)
 
2,373
449,280
Nestle SA (Reg. S)
 
217,266
21,813,549
Parade Technologies Ltd.
 
6,000
135,973
QIAGEN NV (Germany)
 
17,892
746,207
Roche Holding AG:
 
 
 
 (Bearer)
 
2,650
694,175
 (participation certificate)
 
57,144
13,692,515
Sanofi SA
 
92,687
9,156,828
Schneider Electric SA
 
44,299
10,100,761
Shell PLC (London)
 
529,018
18,805,859
Stellantis NV (Italy)
 
180,364
4,019,076
Swiss Re Ltd.
 
24,552
2,666,065
Tenaris SA
 
38,434
642,938
TOTAL UNITED STATES OF AMERICA
 
 
124,349,347
Zambia - 0.0%
 
 
 
First Quantum Minerals Ltd.
 
57,875
734,867
 
TOTAL COMMON STOCKS
 (Cost $1,905,513,758)
 
 
 
2,049,313,413
 
 
 
 
Nonconvertible Preferred Stocks - 0.9%
 
 
Shares
Value ($)
 
Brazil - 0.4%
 
 
 
Banco Bradesco SA (PN)
 
432,895
1,167,147
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)
 
23,455
187,727
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
149,786
366,374
Companhia Paranaense de Energia-COPEL (PN-B)
 
86,700
151,774
Gerdau SA
 
113,646
399,641
Itau Unibanco Holding SA
 
393,750
2,377,999
Itausa-Investimentos Itau SA (PN)
 
438,261
806,874
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)
 
387,300
3,134,142
TOTAL BRAZIL
 
 
8,591,678
Chile - 0.0%
 
 
 
Sociedad Quimica y Minera de Chile SA (PN-B)
 
11,580
528,913
Colombia - 0.0%
 
 
 
Bancolombia SA (PN)
 
35,920
293,916
Germany - 0.3%
 
 
 
Bayerische Motoren Werke AG (BMW) (non-vtg.)
 
4,856
500,094
Dr. Ing. h.c. F. Porsche AG Series F (c)
 
9,326
830,261
Henkel AG & Co. KGaA
 
13,671
1,086,048
Porsche Automobil Holding SE (Germany)
 
12,365
630,015
Sartorius AG (non-vtg.)
 
2,144
645,924
Volkswagen AG
 
16,929
2,073,889
TOTAL GERMANY
 
 
5,766,231
Korea (South) - 0.2%
 
 
 
AMOREPACIFIC Corp.
 
2,314
77,480
Hyundai Motor Co. Ltd.
 
2,240
254,176
Hyundai Motor Co. Ltd. Series 2
 
3,064
349,136
LG Chemical Ltd.
 
813
155,595
LG H & H Co. Ltd.
 
569
76,578
Samsung Electronics Co. Ltd.
 
67,010
3,120,013
TOTAL KOREA (SOUTH)
 
 
4,032,978
Russia - 0.0%
 
 
 
Surgutneftegas OJSC (a)(e)
 
352,900
6,114
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $20,275,447)
 
 
 
19,219,830
 
 
 
 
Government Obligations - 0.2%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.2%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $4,884,323)
 
4,900,000
4,884,189
 
 
 
 
Money Market Funds - 4.9%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
96,864,758
96,884,131
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
10,538,966
10,540,020
 
TOTAL MONEY MARKET FUNDS
 (Cost $107,424,771)
 
 
107,424,151
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.9%
 (Cost $2,038,098,299)
 
 
 
2,180,841,583
NET OTHER ASSETS (LIABILITIES) - 0.1%  
2,226,958
NET ASSETS - 100.0%
2,183,068,541
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
649
Jun 2024
73,580,375
(1,725,696)
(1,725,696)
ICE MSCI Emerging Markets Index Contracts (United States)
626
Jun 2024
32,614,600
12,989
12,989
TME S&P/TSX 60 Index Contracts (Canada)
45
Jun 2024
8,534,849
(106,385)
(106,385)
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(1,819,092)
The notional amount of futures purchased as a percentage of Net Assets is 5.3%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(c)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $44,272,766 or 2.0% of net assets.
 
(d)
Security or a portion of the security is on loan at period end.
 
(e)
Level 3 security
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $3,673,110.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
77,429,952
269,876,323
250,421,524
1,804,096
-
(620)
96,884,131
0.2%
Fidelity Securities Lending Cash Central Fund 5.39%
10,750,416
37,225,649
37,436,045
44,158
-
-
10,540,020
0.0%
Total
88,180,368
307,101,972
287,857,569
1,848,254
-
(620)
107,424,151
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
107,001,061
20,127,944
86,815,300
57,817
Consumer Discretionary
241,010,941
61,514,926
179,491,209
4,806
Consumer Staples
154,560,342
44,084,064
110,476,278
-
Energy
119,810,391
44,602,618
74,889,961
317,812
Financials
443,298,188
177,332,035
265,925,314
40,839
Health Care
192,293,588
28,334,137
163,959,451
-
Industrials
286,187,582
90,364,505
195,812,111
10,966
Information Technology
264,250,144
57,653,289
206,596,855
-
Materials
156,082,216
66,690,344
89,317,076
74,796
Real Estate
40,443,107
10,320,365
30,122,742
-
Utilities
63,595,683
20,439,819
43,146,222
9,642
 Government Obligations
4,884,189
-
4,884,189
-
  Money Market Funds
107,424,151
107,424,151
-
-
 Total Investments in Securities:
2,180,841,583
728,888,197
1,451,436,708
516,678
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
12,989
12,989
-
-
  Total Assets
12,989
12,989
-
-
 Liabilities
 
 
 
 
Futures Contracts
(1,832,081)
(1,832,081)
-
-
  Total Liabilities
(1,832,081)
(1,832,081)
-
-
 Total Derivative Instruments:
(1,819,092)
(1,819,092)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
12,989
(1,832,081)
Total Equity Risk
12,989
(1,832,081)
Total Value of Derivatives
12,989
(1,832,081)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $9,785,327) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $1,930,673,528)
$
2,073,417,432
 
 
Fidelity Central Funds (cost $107,424,771)
107,424,151
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $2,038,098,299)
 
 
$
2,180,841,583
Foreign currency held at value (cost $7,383,472)
 
 
7,284,173
Receivable for fund shares sold
 
 
3,612,239
Dividends receivable
 
 
6,678,362
Reclaims receivable
 
 
3,236,751
Distributions receivable from Fidelity Central Funds
 
 
349,894
  Total assets
 
 
2,202,003,002
Liabilities
 
 
 
 
Payable to custodian bank
$
215,314
 
 
Payable for investments purchased on a delayed delivery basis
79,586
 
 
Payable for fund shares redeemed
2,304,516
 
 
Payable for daily variation margin on futures contracts
1,534,899
 
 
Deferred taxes
4,189,794
 
 
Other payables and accrued expenses
70,573
 
 
Collateral on securities loaned
10,539,779
 
 
  Total liabilities
 
 
 
18,934,461
Net Assets  
 
 
$
2,183,068,541
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
2,096,668,110
Total accumulated earnings (loss)
 
 
 
86,400,431
Net Assets
 
 
$
2,183,068,541
Net Asset Value, offering price and redemption price per share ($2,183,068,541 ÷ 169,164,609 shares)
 
 
$
12.90
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
29,404,707
Interest  
 
 
189,208
Income from Fidelity Central Funds (including $44,158 from security lending)
 
 
1,848,254
 Income before foreign taxes withheld
 
 
$
31,442,169
Less foreign taxes withheld
 
 
(2,427,156)
 Total income
 
 
 
29,015,013
Expenses
 
 
 
 
Independent trustees' fees and expenses
$
2,719
 
 
Proxy
7,176
 
 
 Total expenses before reductions
 
9,895
 
 
 Expense reductions
 
(189)
 
 
 Total expenses after reductions
 
 
 
9,706
Net Investment income (loss)
 
 
 
29,005,307
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $8,272)
 
(14,392,326)
 
 
 Foreign currency transactions
 
110,172
 
 
 Futures contracts
 
7,331,707
 
 
Total net realized gain (loss)
 
 
 
(6,950,447)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $2,550,783)  
 
253,130,145
 
 
   Fidelity Central Funds
 
(620)
 
 
 Assets and liabilities in foreign currencies
 
(112,118)
 
 
 Futures contracts
 
2,964,949
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
255,982,356
Net gain (loss)
 
 
 
249,031,909
Net increase (decrease) in net assets resulting from operations
 
 
$
278,037,216
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
29,005,307
$
48,180,929
Net realized gain (loss)
 
(6,950,447)
 
 
(15,851,419)
 
Change in net unrealized appreciation (depreciation)
 
255,982,356
 
116,007,737
 
Net increase (decrease) in net assets resulting from operations
 
278,037,216
 
 
148,337,247
 
Distributions to shareholders
 
(49,799,346)
 
 
(35,599,173)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
488,482,936
 
654,140,985
  Reinvestment of distributions
 
36,508,132
 
 
24,757,989
 
Cost of shares redeemed
 
(218,692,316)
 
(418,912,908)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
306,298,752
 
 
259,986,066
 
Total increase (decrease) in net assets
 
534,536,622
 
 
372,724,140
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
1,648,531,919
 
1,275,807,779
 
End of period
$
2,183,068,541
$
1,648,531,919
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
38,696,958
 
54,718,431
  Issued in reinvestment of distributions
 
2,968,142
 
 
2,220,447
 
Redeemed
 
(17,335,354)
 
(35,235,613)
Net increase (decrease)
 
24,329,746
 
21,703,265
 
 
 
 
 
 
Financial Highlights
 
Fidelity Flex® International Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
11.38
$
10.36
$
14.06
$
11.04
$
11.59
$
10.60
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.18
 
.37
 
.37
 
.35
 
.27
 
.37
     Net realized and unrealized gain (loss)
 
1.68
 
.94
 
(3.76)
 
2.87
 
(.52)
 
.81
  Total from investment operations
 
1.86  
 
1.31  
 
(3.39)  
 
3.22  
 
(.25)
 
1.18
  Distributions from net investment income
 
(.34)
 
(.29)
 
(.31)
 
(.20)
 
(.30)
 
(.19)
     Total distributions
 
(.34)
 
(.29)
 
(.31)
 
(.20)
 
(.30)
 
(.19)
  Net asset value, end of period
$
12.90
$
11.38
$
10.36
$
14.06
$
11.04
$
11.59
 Total Return C,D
 
16.46
%
 
 
12.72%
 
(24.60)%
 
29.31%
 
(2.24)%
 
11.40%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
-% G,H,I
 
.01%
 
-% H
 
-% H
 
-% H
 
-% H
    Expenses net of fee waivers, if any H
 
-
% G,I
 
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of all reductions H
 
-% G,I
 
-%
 
-%
 
-%
 
-%
 
-%
    Net investment income (loss)
 
2.93% G,I
 
3.09%
 
3.10%
 
2.56%
 
2.46%
 
3.35%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
2,183,069
$
1,648,532
$
1,275,808
$
1,272,152
$
575,120
$
378,587
    Portfolio turnover rate J
 
3
% I
 
 
3%
 
4%
 
5%
 
4%
 
4%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GProxy expenses are not annualized.
 
HAmount represents less than .005%.
 
IAnnualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity Flex International Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund is available only to certain fee-based accounts and advisory programs offered by Fidelity. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
 
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
 
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes witheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign taxes withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Deferred taxes on the Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforwards, partnerships and losses deferred due to wash sales
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$373,699,847
Gross unrealized depreciation
(247,781,843)
Net unrealized appreciation (depreciation)
$125,918,004
Tax cost
$2,053,104,487
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(13,180,581)
 Long-term
(37,797,296)
Total capital loss carryforward
$(50,977,877)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Flex International Index Fund
302,227,751
27,582,354
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services and the Fund does not pay any fees for these services. Under the management contract, the investment adviser or an affiliate pays all other expenses of the Fund, excluding fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
7. Security Lending.
Funds lend portfolio securities through a lending agent from time to time in order to earn additional income. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds.
 
 
 
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Flex International Index Fund
 -
 -
8. Expense Reductions.
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $189.
9. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
10. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity Flex® International Index Fund
 
 
 
-%-D
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,164.60
 
$-E
 
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.86
 
$-E
 
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
D   Amount represents less than .005%.
 
E   Amount represents less than $.005.
 
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9881634.107
ZEI-SANN-0624
Fidelity® SAI International Quality Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by Fidelity Product Services LLC (FPS), and FPS bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the relationship between FPS and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
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All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
4.6
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
4.0
 
TotalEnergies SE  (France, Oil, Gas & Consumable Fuels)
3.3
 
Novartis AG  (Switzerland, Pharmaceuticals)
3.1
 
Unilever PLC  (United Kingdom, Personal Care Products)
2.9
 
Roche Holding AG (participation certificate)  (United States of America, Pharmaceuticals)
2.9
 
BHP Group Ltd.  (Australia, Metals & Mining)
2.8
 
L'Oreal SA  (France, Personal Care Products)
2.6
 
GSK PLC  (United States of America, Pharmaceuticals)
2.5
 
Keyence Corp.  (Japan, Electronic Equipment, Instruments & Components)
2.4
 
 
31.1
 
 
Market Sectors (% of Fund's net assets)
 
Health Care
17.6
 
Industrials
13.4
 
Consumer Staples
12.9
 
Materials
12.4
 
Consumer Discretionary
10.9
 
Information Technology
10.6
 
Financials
10.2
 
Communication Services
4.8
 
Energy
4.3
 
Real Estate
0.7
 
Utilities
0.6
 
 
Asset Allocation (% of Fund's net assets)
Futures - 1.6%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 98.4%
 
 
Shares
Value ($)
 
Australia - 8.2%
 
 
 
Aristocrat Leisure Ltd.
 
197,814
5,048,210
BHP Group Ltd.
 
1,059,721
29,064,031
Fortescue Ltd.
 
516,504
8,560,768
IGO Ltd.
 
205,563
1,023,844
JB Hi-Fi Ltd.
 
33,347
1,301,270
Medibank Private Ltd.
 
839,982
1,925,121
Pilbara Minerals Ltd. (a)
 
862,825
2,196,669
Pro Medicus Ltd.
 
15,930
1,138,120
REA Group Ltd.
 
15,716
1,801,495
Rio Tinto Ltd.
 
111,618
9,289,334
Rio Tinto PLC
 
336,082
22,739,570
Technology One Ltd.
 
91,105
943,594
Whitehaven Coal Ltd.
 
255,167
1,262,180
TOTAL AUSTRALIA
 
 
86,294,206
Denmark - 6.8%
 
 
 
Carlsberg A/S Series B
 
27,506
3,699,911
Demant A/S (b)
 
28,687
1,380,805
Genmab A/S (b)
 
20,151
5,594,525
Novo Nordisk A/S Series B
 
377,384
48,396,595
Novonesis (NOVOZYMES) B Series B
 
111,306
6,188,887
Pandora A/S
 
25,517
3,904,825
Ringkjoebing Landbobank A/S
 
8,385
1,413,317
Rockwool International A/S Series B
 
2,719
893,248
TOTAL DENMARK
 
 
71,472,113
Finland - 0.8%
 
 
 
Elisa Corp. (A Shares)
 
45,934
2,074,559
Kone OYJ (B Shares)
 
123,019
6,012,893
TOTAL FINLAND
 
 
8,087,452
France - 11.7%
 
 
 
Gaztransport et Technigaz SA
 
6,672
932,767
Hermes International SCA
 
10,304
24,752,961
Ipsen SA
 
11,593
1,411,651
L'Oreal SA
 
58,974
27,670,275
La Francaise des Jeux SAEM (c)
 
34,954
1,322,761
Legrand SA
 
80,227
8,244,655
LVMH Moet Hennessy Louis Vuitton SE
 
28,067
23,055,254
Remy Cointreau SA
 
7,125
675,947
TotalEnergies SE
 
473,160
34,350,811
TOTAL FRANCE
 
 
122,417,082
Germany - 1.8%
 
 
 
Deutsche Borse AG
 
57,951
11,172,489
Hannover Reuck SE
 
18,131
4,496,801
Nemetschek SE
 
17,262
1,539,159
Rational AG
 
1,838
1,577,057
TOTAL GERMANY
 
 
18,785,506
Hong Kong - 1.4%
 
 
 
CK Infrastructure Holdings Ltd.
 
184,500
1,042,266
Hong Kong Exchanges and Clearing Ltd.
 
363,500
11,550,004
Power Assets Holdings Ltd.
 
416,000
2,386,240
TOTAL HONG KONG
 
 
14,978,510
Israel - 0.6%
 
 
 
Mizrahi Tefahot Bank Ltd.
 
44,887
1,639,932
NICE Ltd. (b)
 
19,042
4,261,695
TOTAL ISRAEL
 
 
5,901,627
Italy - 2.2%
 
 
 
Azimut Holding SpA
 
32,770
866,260
Ferrari NV (Italy)
 
38,446
15,886,650
FinecoBank SpA
 
186,245
2,870,104
Reply SpA
 
6,846
898,644
Snam SpA
 
625,297
2,860,904
TOTAL ITALY
 
 
23,382,562
Japan - 18.8%
 
 
 
Advantest Corp.
 
233,700
7,314,967
Astellas Pharma, Inc.
 
544,100
5,222,218
BayCurrent Consulting, Inc.
 
41,200
877,031
Capcom Co. Ltd.
 
102,400
1,685,754
Chugai Pharmaceutical Co. Ltd.
 
194,600
6,189,033
Daito Trust Construction Co. Ltd.
 
20,000
2,143,888
Daiwa House Industry Co. Ltd.
 
200,300
5,636,224
Disco Corp.
 
27,100
7,719,320
Hoya Corp.
 
107,000
12,405,561
Japan Exchange Group, Inc.
 
161,200
3,775,389
Japan Tobacco, Inc.
 
330,800
8,899,055
Keyence Corp.
 
58,000
25,506,652
Lasertec Corp.
 
24,200
5,220,072
M3, Inc.
 
130,500
1,380,453
Nexon Co. Ltd.
 
138,300
2,156,283
Nintendo Co. Ltd.
 
356,500
17,386,150
Nippon Telegraph & Telephone Corp.
 
9,114,000
9,840,043
Nissan Chemical Corp.
 
42,600
1,452,156
OBIC Co. Ltd.
 
20,000
2,569,331
Ono Pharmaceutical Co. Ltd.
 
148,300
2,136,020
Oracle Corp. Japan
 
10,200
765,455
Recruit Holdings Co. Ltd.
 
517,300
22,278,745
Rohto Pharmaceutical Co. Ltd.
 
65,300
1,274,032
SG Holdings Co. Ltd.
 
148,400
1,737,036
SHIMANO, Inc.
 
24,800
4,030,323
Shin-Etsu Chemical Co. Ltd.
 
617,400
23,898,899
Shionogi & Co. Ltd.
 
85,300
3,983,576
Sysmex Corp.
 
145,900
2,332,996
TIS, Inc.
 
64,700
1,381,770
Trend Micro, Inc.
 
43,000
2,118,963
USS Co. Ltd.
 
134,800
1,029,777
Yakult Honsha Co. Ltd.
 
92,900
1,817,101
ZOZO, Inc.
 
35,700
768,924
TOTAL JAPAN
 
 
196,933,197
Netherlands - 7.1%
 
 
 
Adyen BV (b)(c)
 
9,458
11,330,679
ASML Holding NV (Netherlands)
 
47,382
42,106,367
BE Semiconductor Industries NV
 
24,750
3,314,857
Universal Music Group NV
 
229,933
6,797,151
Wolters Kluwer NV
 
75,798
11,385,496
TOTAL NETHERLANDS
 
 
74,934,550
Norway - 0.9%
 
 
 
Equinor ASA
 
302,267
8,042,834
Gjensidige Forsikring ASA
 
57,951
932,245
TOTAL NORWAY
 
 
8,975,079
Singapore - 0.3%
 
 
 
Genting Singapore Ltd.
 
1,709,100
1,140,603
Singapore Exchange Ltd.
 
251,700
1,716,978
TOTAL SINGAPORE
 
 
2,857,581
Spain - 0.9%
 
 
 
Amadeus IT Holding SA Class A
 
137,404
8,721,575
Enagas SA
 
71,917
1,056,078
TOTAL SPAIN
 
 
9,777,653
Sweden - 0.4%
 
 
 
Avanza Bank Holding AB (a)
 
36,383
787,719
Fortnox AB
 
144,838
859,271
Hemnet Group AB
 
25,676
673,330
Nordnet AB (a)
 
49,563
895,879
Sectra AB (B Shares)
 
40,856
812,642
TOTAL SWEDEN
 
 
4,028,841
Switzerland - 15.0%
 
 
 
ABB Ltd. (Reg.)
 
493,656
23,985,974
Belimo Holding AG (Reg.)
 
3,001
1,392,686
Compagnie Financiere Richemont SA Series A
 
159,212
22,007,402
Ems-Chemie Holding AG
 
2,069
1,658,801
Geberit AG (Reg.)
 
10,196
5,474,839
Georg Fischer AG (Reg.) (a)
 
25,016
1,755,270
Givaudan SA
 
2,422
10,396,750
Kuehne & Nagel International AG
 
16,942
4,491,450
Novartis AG
 
337,669
32,773,327
Partners Group Holding AG
 
6,678
8,641,263
Schindler Holding AG (participation certificate)
 
18,349
4,590,993
SGS SA (Reg.)
 
46,292
4,082,056
Sonova Holding AG
 
14,549
4,042,224
Swisscom AG
 
7,742
4,240,519
Swissquote Group Holding SA
 
3,226
877,346
Temenos AG
 
19,455
1,216,930
VAT Group AG (c)
 
8,235
4,145,047
Zurich Insurance Group Ltd.
 
44,007
21,265,063
TOTAL SWITZERLAND
 
 
157,037,940
United Kingdom - 11.0%
 
 
 
3i Group PLC
 
296,875
10,606,587
Admiral Group PLC
 
80,345
2,739,782
Auto Trader Group PLC (c)
 
279,785
2,425,591
Britvic PLC
 
76,374
844,106
Computacenter PLC
 
23,281
751,124
Diageo PLC
 
680,475
23,516,997
Games Workshop Group PLC
 
10,039
1,243,133
Hargreaves Lansdown PLC
 
107,055
1,088,625
IG Group Holdings PLC
 
118,687
1,109,324
Imperial Brands PLC
 
275,786
6,301,753
Man Group PLC
 
368,532
1,186,246
RELX PLC (London Stock Exchange)
 
590,991
24,281,977
Rightmove PLC
 
249,535
1,605,803
Sage Group PLC
 
312,243
4,549,303
St. James's Place PLC
 
167,327
910,768
Unilever PLC
 
592,465
30,648,692
Wise PLC (b)
 
143,778
1,395,043
TOTAL UNITED KINGDOM
 
 
115,204,854
United States of America - 10.5%
 
 
 
Experian PLC
 
281,656
11,360,298
GSK PLC
 
1,249,449
25,922,218
Haleon PLC
 
1,443,867
6,097,946
Holcim AG
 
160,202
13,410,153
Nestle SA (Reg. S)
 
224,723
22,562,234
Roche Holding AG (participation certificate)
 
126,080
30,210,561
TOTAL UNITED STATES OF AMERICA
 
 
109,563,410
 
TOTAL COMMON STOCKS
 (Cost $1,011,640,629)
 
 
 
1,030,632,163
 
 
 
 
Government Obligations - 0.0%
 
 
Principal
Amount (d)
 
Value ($)
 
United States of America - 0.0%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (e)
  (Cost $299,040)
 
300,000
299,032
 
 
 
 
Money Market Funds - 1.6%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (f)
 
11,609,881
11,612,203
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g)
 
4,673,573
4,674,041
 
TOTAL MONEY MARKET FUNDS
 (Cost $16,286,244)
 
 
16,286,244
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.0%
 (Cost $1,028,225,913)
 
 
 
1,047,217,439
NET OTHER ASSETS (LIABILITIES) - 0.0%  
(70,877)
NET ASSETS - 100.0%
1,047,146,562
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
145
Jun 2024
16,439,375
(422,497)
(422,497)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 1.6%
 
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(b)
Non-income producing
 
(c)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $19,224,078 or 1.8% of net assets.
 
(d)
Amount is stated in United States dollars unless otherwise noted.
 
(e)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $299,032.
 
(f)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(g)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
77,319
472,918,926
461,383,981
281,489
(61)
-
11,612,203
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
-
13,050,492
8,376,451
9,807
-
-
4,674,041
0.0%
Total
77,319
485,969,418
469,760,432
291,296
(61)
-
16,286,244
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
50,686,678
15,391,362
35,295,316
-
Consumer Discretionary
114,213,668
47,110,330
67,103,338
-
Consumer Staples
134,008,049
28,514,381
105,493,668
-
Energy
44,588,592
932,767
43,655,825
-
Financials
105,192,964
53,115,717
52,077,247
-
Health Care
185,332,525
7,647,322
177,685,203
-
Industrials
138,566,751
45,801,035
92,765,716
-
Information Technology
113,037,474
59,497,350
53,540,124
-
Materials
129,879,862
18,244,438
111,635,424
-
Real Estate
7,780,112
-
7,780,112
-
Utilities
7,345,488
1,056,078
6,289,410
-
 Government Obligations
299,032
-
299,032
-
  Money Market Funds
16,286,244
16,286,244
-
-
 Total Investments in Securities:
1,047,217,439
293,597,024
753,620,415
-
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(422,497)
(422,497)
-
-
  Total Liabilities
(422,497)
(422,497)
-
-
 Total Derivative Instruments:
(422,497)
(422,497)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(422,497)
Total Equity Risk
0
(422,497)
Total Value of Derivatives
0
(422,497)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $4,413,872) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $1,011,939,669)
$
1,030,931,195
 
 
Fidelity Central Funds (cost $16,286,244)
16,286,244
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $1,028,225,913)
 
 
$
1,047,217,439
Segregated cash with brokers for derivative instruments
 
 
232,067
Cash
 
 
802
Foreign currency held at value (cost $255,627)
 
 
251,976
Receivable for fund shares sold
 
 
207,964
Dividends receivable
 
 
1,833,962
Reclaims receivable
 
 
2,576,666
Distributions receivable from Fidelity Central Funds
 
 
140,079
Prepaid expenses
 
 
99
Receivable from investment adviser for expense reductions
 
 
30,949
  Total assets
 
 
1,052,492,003
Liabilities
 
 
 
 
Payable for fund shares redeemed
$
172,491
 
 
Accrued management fee
126,298
 
 
Payable for daily variation margin on futures contracts
226,200
 
 
Other payables and accrued expenses
146,411
 
 
Collateral on securities loaned
4,674,041
 
 
  Total liabilities
 
 
 
5,345,441
Net Assets  
 
 
$
1,047,146,562
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
1,041,286,328
Total accumulated earnings (loss)
 
 
 
5,860,234
Net Assets
 
 
$
1,047,146,562
Net Asset Value, offering price and redemption price per share ($1,047,146,562 ÷ 85,145,345 shares)
 
 
$
12.30
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
9,901,589
Foreign Tax Reclaims
 
 
1,162,960
Interest  
 
 
11,862
Income from Fidelity Central Funds (including $9,807 from security lending)
 
 
291,296
 Income before foreign taxes withheld
 
 
$
11,367,707
Less foreign taxes withheld
 
 
(1,871,400)
 Total income
 
 
 
9,496,307
Expenses
 
 
 
 
Management fee
$
387,109
 
 
Custodian fees and expenses
36,362
 
 
Independent trustees' fees and expenses
537
 
 
Registration fees
101,827
 
 
Audit
24,668
 
 
Legal
212
 
 
Miscellaneous
962
 
 
 Total expenses before reductions
 
551,677
 
 
 Expense reductions
 
(33,695)
 
 
 Total expenses after reductions
 
 
 
517,982
Net Investment income (loss)
 
 
 
8,978,325
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
4,559,831
 
 
   Fidelity Central Funds
 
(61)
 
 
 Foreign currency transactions
 
(28,385)
 
 
 Futures contracts
 
714,908
 
 
Total net realized gain (loss)
 
 
 
5,246,293
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
7,549,974
 
 
 Assets and liabilities in foreign currencies
 
(55,323)
 
 
 Futures contracts
 
(300,960)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
7,193,691
Net gain (loss)
 
 
 
12,439,984
Net increase (decrease) in net assets resulting from operations
 
 
$
21,418,309
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
8,978,325
$
8,117,389
Net realized gain (loss)
 
5,246,293
 
 
8,530,196
 
Change in net unrealized appreciation (depreciation)
 
7,193,691
 
29,770,364
 
Net increase (decrease) in net assets resulting from operations
 
21,418,309
 
 
46,417,949
 
Distributions to shareholders
 
(8,058,495)
 
 
(10,237,046)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
782,790,289
 
27,624,215
  Reinvestment of distributions
 
7,924,506
 
 
10,187,269
 
Cost of shares redeemed
 
(34,213,513)
 
(112,997,465)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
756,501,282
 
 
(75,185,981)
 
Total increase (decrease) in net assets
 
769,861,096
 
 
(39,005,078)
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
277,285,466
 
316,290,544
 
End of period
$
1,047,146,562
$
277,285,466
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
61,802,042
 
2,453,321
  Issued in reinvestment of distributions
 
675,576
 
 
930,344
 
Redeemed
 
(2,786,183)
 
(9,827,124)
Net increase (decrease)
 
59,691,435
 
(6,443,459)
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI International Quality Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 A
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
10.89
$
9.92
$
14.51
$
11.07
$
10.00
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) B,C
 
.21
 
.28
 
.32
 
.24
 
.08
     Net realized and unrealized gain (loss)
 
1.51
 
1.02
 
(3.44)
 
3.32
 
.99
  Total from investment operations
 
1.72  
 
1.30  
 
(3.12)  
 
3.56  
 
1.07
  Distributions from net investment income
 
(.31)
 
(.33)
 
(.24)
 
(.10)
 
-
  Distributions from net realized gain
 
-
 
-
 
(1.24)
 
(.02)
 
-
     Total distributions
 
(.31)
 
(.33)
 
(1.47) D
 
(.12)
 
-
  Net asset value, end of period
$
12.30
$
10.89
$
9.92
$
14.51
$
11.07
 Total Return E,F
 
15.96
%
 
 
13.13%
 
(23.94)%
 
32.28%
 
10.70%
 Ratios to Average Net Assets C,G,H
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.21% I,J
 
.20%
 
.19%
 
.19%
 
.23% I,K
    Expenses net of fee waivers, if any
 
.20
% I,J
 
 
.20%
 
.19%
 
.19%
 
.20% I
    Expenses net of all reductions
 
.20% I,J
 
.20%
 
.19%
 
.19%
 
.20% I
    Net investment income (loss)
 
3.44% I,J
 
2.49%
 
2.70%
 
1.78%
 
1.55% I
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
1,047,147
$
277,285
$
316,291
$
588,201
$
473,547
    Portfolio turnover rate L
 
36
% I
 
 
38%
 
47%
 
78%
 
30% M
 
AFor the period May 12, 2020 (commencement of operations) through October 31, 2020.
 
BCalculated based on average shares outstanding during the period.
 
CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
DTotal distributions per share do not sum due to rounding.
 
ETotal returns for periods of less than one year are not annualized.
 
FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
IAnnualized.
 
JProxy expenses are not annualized.
 
KAudit fees are not annualized.
 
LAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
MAmount not annualized.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity SAI International Quality Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
 
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price or official closing price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign tax reclaims. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign tax reclaims. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), certain corporate actions, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows: 
 
Gross unrealized appreciation
$76,154,018
Gross unrealized depreciation
(58,152,844)
Net unrealized appreciation (depreciation)
$18,001,174
Tax cost
$1,029,216,265
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(23,513,897)
Total capital loss carryforward
$(23,513,897)
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI International Quality Index Fund
836,082,402
92,204,145
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .15% of the Fund's average net assets.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
 
Amount ($)
Fidelity SAI International Quality Index Fund
394
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity SAI International Quality Index Fund
2,377
 -
-
9. Expense Reductions.
The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .20% of average net assets. This reimbursement will remain in place through February 28, 2025. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $33,695.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Fidelity International Fund
Strategic Advisers International Fund
Fidelity SAI International Quality Index Fund
41%
36%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI International Quality Index Fund
77%
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
 
 
 
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI International Quality Index Fund
 
 
 
.20%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,159.60
 
$ 1.07
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,023.87
 
$ 1.01
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9900586.103
IQI-SANN-0624
Fidelity® SAI Emerging Markets Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
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Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
7.9
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
3.9
 
Samsung Electronics Co. Ltd.  (Korea (South), Technology Hardware, Storage & Peripherals)
3.6
 
Alibaba Group Holding Ltd.  (China, Broadline Retail)
2.1
 
Reliance Industries Ltd.  (India, Oil, Gas & Consumable Fuels)
1.4
 
PDD Holdings, Inc. ADR  (China, Broadline Retail)
1.0
 
ICICI Bank Ltd.  (India, Banks)
1.0
 
Meituan Class B (China, Hotels, Restaurants & Leisure)
1.0
 
SK Hynix, Inc.  (Korea (South), Semiconductors & Semiconductor Equipment)
0.9
 
China Construction Bank Corp. (H Shares)  (China, Banks)
0.9
 
 
23.7
 
 
Market Sectors (% of Fund's net assets)
 
Information Technology
21.8
 
Financials
21.6
 
Consumer Discretionary
12.3
 
Communication Services
8.6
 
Materials
6.9
 
Industrials
6.7
 
Consumer Staples
5.4
 
Energy
5.3
 
Health Care
3.1
 
Utilities
2.9
 
Real Estate
1.7
 
 
Asset Allocation (% of Fund's net assets)
Futures - 3.4%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 94.4%
 
 
Shares
Value ($)
 
Brazil - 3.4%
 
 
 
Ambev SA
 
3,503,798
8,198,426
Atacadao SA
 
468,700
1,008,238
B3 SA - Brasil Bolsa Balcao
 
4,186,340
8,699,035
Banco Bradesco SA
 
1,178,012
2,804,034
Banco BTG Pactual SA unit
 
874,400
5,624,342
Banco do Brasil SA
 
1,274,610
6,730,695
Banco Santander SA (Brasil) unit
 
278,100
1,547,797
BB Seguridade Participacoes SA
 
518,958
3,218,127
Caixa Seguridade Participacoes
 
444,900
1,341,743
CCR SA
 
748,312
1,776,892
Centrais Eletricas Brasileiras SA (Electrobras)
 
898,597
6,551,801
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
 
253,400
3,944,033
Companhia Siderurgica Nacional SA (CSN)
 
491,500
1,317,583
Cosan SA
 
902,924
2,521,357
CPFL Energia SA (a)
 
170,700
1,048,671
Energisa SA unit
 
190,800
1,657,181
Eneva SA (a)
 
411,100
980,129
ENGIE Brasil Energia SA
 
151,120
1,190,311
Equatorial Energia SA
 
764,038
4,501,006
Hapvida Participacoes e Investimentos SA (a)(b)
 
3,632,543
2,581,382
Hypera SA (a)
 
281,700
1,601,468
Klabin SA unit
 
556,000
2,467,018
Localiza Rent a Car SA
 
677,304
6,395,296
Lojas Renner SA
 
713,801
2,107,339
Magazine Luiza SA (a)
 
2,495,781
653,673
Natura & Co. Holding SA
 
668,126
2,134,617
Petroleo Brasileiro SA - Petrobras (ON)
 
2,758,508
23,512,607
PRIO SA
 
595,200
5,501,984
Raia Drogasil SA
 
955,060
4,704,856
Rede D'Oregon Sao Luiz SA (b)
 
424,317
2,124,608
Rumo SA
 
962,400
3,736,468
Sendas Distribuidora SA
 
1,002,000
2,531,726
Suzano SA
 
589,012
6,631,291
Telefonica Brasil SA
 
306,200
2,791,570
TIM SA
 
627,800
2,129,099
Totvs SA
 
411,800
2,184,064
Ultrapar Participacoes SA
 
537,238
2,674,499
Vale SA
 
2,523,673
30,759,786
Vibra Energia SA
 
863,449
3,901,035
Weg SA
 
1,244,780
9,481,002
TOTAL BRAZIL
 
 
185,266,789
Chile - 0.4%
 
 
 
Banco de Chile
 
33,702,424
3,738,668
Banco de Credito e Inversiones
 
56,713
1,654,102
Banco Santander Chile
 
48,905,037
2,215,894
Cencosud SA
 
946,377
1,621,671
Compania Sud Americana de Vapores SA
 
11,425,044
891,345
Empresas CMPC SA
 
834,431
1,647,915
Empresas COPEC SA
 
289,021
2,062,479
Enel Americas SA
 
15,893,095
1,489,900
Enel Chile SA
 
20,501,775
1,217,229
Falabella SA (a)
 
649,784
1,739,435
LATAM Airlines Group SA
 
134,421,687
1,818,799
TOTAL CHILE
 
 
20,097,437
China - 25.7%
 
 
 
360 Security Technology, Inc. (A Shares) (a)
 
317,500
371,503
37 Interactive Entertainment Network Technology Group Co. Ltd. (A Shares)
 
98,600
226,498
AAC Technology Holdings, Inc.
 
533,633
1,698,361
Accelink Technologies Co. Ltd. (A Shares) (a)
 
35,400
181,486
ACM Research Shanghai, Inc. (A Shares) (a)
 
12,974
146,109
Advanced Micro-Fabrication Equipment, Inc., China (A Shares)
 
27,587
536,385
AECC Aero-Engine Control Co. Ltd. (A Shares)
 
58,500
157,618
AECC Aviation Power Co. Ltd.
 
118,500
577,532
Agricultural Bank of China Ltd.:
 
 
 
 (A Shares)
 
3,569,900
2,166,918
 (H Shares)
 
20,804,297
9,276,864
Aier Eye Hospital Group Co. Ltd. (A Shares)
 
414,799
736,738
AIMA Technology Group Co. Ltd.
 
38,400
186,344
Air China Ltd.:
 
 
 
 (A Shares) (a)
 
405,300
412,157
 (H Shares) (a)
 
1,510,000
757,050
Airtac International Group
 
103,926
3,673,047
Akeso, Inc. (a)(b)
 
374,000
2,288,551
Alibaba Group Holding Ltd.
 
12,066,816
112,982,377
Alibaba Health Information Technology Ltd. (a)
 
4,175,000
1,558,439
Aluminum Corp. of China Ltd.:
 
 
 
 (A shares)
 
578,100
590,250
 (H Shares)
 
2,938,000
1,948,522
Amlogic Shanghai Co. Ltd. (A Shares)
 
18,568
147,626
Angel Yeast Co. Ltd. (A Shares)
 
38,600
158,486
Anhui Conch Cement Co. Ltd.:
 
 
 
 (A Shares)
 
193,200
611,984
 (H Shares)
 
887,900
2,059,986
Anhui Gujing Distillery Co. Ltd.:
 
 
 
 (A Shares)
 
18,200
680,207
 (B Shares)
 
79,857
1,308,944
Anhui Jianghuai Automobile Group Corp. Ltd. (A Shares) (a)
 
97,100
208,988
Anhui Kouzi Distillery Co. Ltd. (A Shares)
 
26,600
152,959
Anhui Yingjia Distillery Co. Ltd. (A Shares)
 
29,600
289,436
Anjoy Foods Group Co. Ltd. (A Shares)
 
13,000
165,079
Anker Innovations Technology Co. Ltd. (A Shares) (a)
 
18,100
215,037
Anta Sports Products Ltd.
 
945,000
10,698,338
Asia - Potash International Investment Guangzhou Co. Ltd. (A Shares) (a)
 
41,400
101,437
ASR Microelectronics Co. Ltd. (A Shares)
 
18,690
105,278
Asymchem Laboratories Tianjin Co. Ltd. (A Shares)
 
15,260
173,637
Autobio Diagnostics Co. Ltd.
 
26,000
204,172
Autohome, Inc. ADR Class A
 
50,233
1,290,988
Avary Holding Shenzhen Co. Ltd. (A Shares)
 
86,700
287,630
AVIC Capital Co. Ltd. (A Shares)
 
391,700
160,435
AviChina Industry & Technology Co. Ltd. (H Shares)
 
1,841,000
791,763
Avicopter PLC (A Shares)
 
26,100
149,817
BAIC BluePark New Energy Technology Co. Ltd. (A Shares) (a)
 
247,700
231,850
Baidu, Inc. Class A (a)
 
1,671,924
21,660,755
Bank of Beijing Co. Ltd. (A Shares)
 
937,525
721,724
Bank of Changsha Co. Ltd. (A Shares)
 
177,600
199,822
Bank of Chengdu Co. Ltd. (A Shares)
 
169,000
344,794
Bank of China Ltd.:
 
 
 
 (A Shares)
 
1,321,400
836,093
 (H Shares)
 
59,260,464
26,577,752
Bank of Communications Co. Ltd.:
 
 
 
 (A Shares)
 
1,838,600
1,743,977
 (H Shares)
 
6,367,176
4,584,744
Bank of Hangzhou Co. Ltd. (A Shares)
 
263,100
468,464
Bank of Jiangsu Co. Ltd. (A Shares)
 
814,243
907,761
Bank of Nanjing Co. Ltd. (A Shares)
 
459,000
590,422
Bank of Ningbo Co. Ltd. (A Shares)
 
293,520
926,819
Bank of Shanghai Co. Ltd. (A Shares)
 
629,480
634,207
Bank of Suzhou Co. Ltd.
 
162,100
168,782
Baoshan Iron & Steel Co. Ltd. (A Shares)
 
983,100
941,516
BeiGene Ltd. (a)
 
505,432
5,995,738
Beijing Dabeinong Technology Group Co. Ltd. (A Shares)
 
183,800
118,767
Beijing Enlight Media Co. Ltd. (A Shares)
 
132,100
170,252
Beijing Enterprises Holdings Ltd.
 
373,427
1,195,546
Beijing Enterprises Water Group Ltd.
 
2,980,000
751,588
Beijing Kingsoft Office Software, Inc. (A Shares)
 
20,545
870,238
Beijing New Building Materials PLC (A Shares)
 
75,200
339,600
Beijing Oriental Yuhong Waterproof Technology Co. Ltd. (A Shares)
 
55,800
112,542
Beijing Roborock Technology Co. Ltd. (A Shares)
 
5,845
341,500
Beijing Tiantan Biological Products Corp. Ltd. (A Shares)
 
73,300
290,275
Beijing Tongrentang Co. Ltd. (A Shares)
 
61,000
355,735
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. (A Shares)
 
37,612
353,364
Beijing Yanjing Brewery Co. Ltd. (A Shares)
 
125,000
170,589
Beijing-Shanghai High Speed Railway Co. Ltd. (A Shares)
 
2,181,200
1,528,883
Beiqi Foton Motor Co. Ltd. (A Shares) (a)
 
355,900
128,724
Bethel Automotive Safety Systems Co. Ltd. (A Shares)
 
19,300
152,886
Bilibili, Inc. Class Z (a)(c)
 
170,501
2,165,053
Bloomage Biotechnology Corp. Ltd. (A Shares)
 
21,442
181,563
BOC Aviation Ltd. Class A (b)
 
154,400
1,228,057
BOC International China Co. Ltd.
 
123,000
173,832
BOE Technology Group Co. Ltd. (A Shares)
 
1,650,100
990,495
Bosideng International Holdings Ltd.
 
2,832,000
1,639,353
Brilliance China Automotive Holdings Ltd.
 
2,244,000
1,863,385
By-Health Co. Ltd. (A Shares)
 
75,500
164,690
BYD Co. Ltd.:
 
 
 
 (A Shares)
 
74,400
2,233,763
 (H Shares)
 
779,800
21,376,333
BYD Electronic International Co. Ltd.
 
585,000
1,970,739
C&D International Investment Group Ltd.
 
491,982
974,576
Caitong Securities Co. Ltd.
 
205,900
217,133
Cambricon Technologies Corp. Ltd. (A Shares) (a)
 
18,530
427,617
Canmax Technologies Co. Ltd. (A Shares)
 
37,300
108,493
Cathay Biotech, Inc. (A Shares) (a)
 
25,891
182,862
CECEP Solar Energy Co. Ltd. (A Shares)
 
176,400
125,469
CGN Power Co. Ltd.:
 
 
 
 (A Shares) (a)
 
712,000
403,718
 (H Shares) (b)
 
7,836,447
2,627,624
Changchun High & New Technology Industry Group, Inc. (A Shares)
 
18,000
279,850
Changjiang Securities Co. Ltd. (A Shares)
 
245,300
191,516
Changzhou Xingyu Automotive Lighting Systems Co. Ltd. (A Shares)
 
12,700
232,008
Chaozhou Three-Circle Group Co. (A Shares)
 
85,700
329,009
Chengxin Lithium Group Co. Ltd. (A Shares)
 
41,000
101,327
Chifeng Jilong Gold Mining Co. Ltd. (A Shares) (a)
 
73,800
181,067
China Baoan Group Co. Ltd. (A Shares)
 
114,600
165,979
China Cinda Asset Management Co. Ltd. (H Shares)
 
7,031,000
633,611
China CITIC Bank Corp. Ltd. (H Shares)
 
6,619,051
3,872,367
China Coal Energy Co. Ltd. (H Shares)
 
1,522,000
1,533,171
China Communications Services Corp. Ltd. (H Shares)
 
1,772,000
847,099
China Construction Bank Corp.:
 
 
 
 (A Shares)
 
262,900
258,169
 (H Shares)
 
71,547,000
46,290,270
China CSSC Holdings Ltd. (A Shares)
 
199,000
999,941
China Eastern Airlines Corp. Ltd. (A Shares) (a)
 
755,800
399,870
China Energy Engineering Corp. Ltd. (A Shares)
 
1,435,800
435,381
China Everbright Bank Co. Ltd.:
 
 
 
 (A Shares)
 
1,868,900
812,674
 (H Shares)
 
2,640,000
799,804
China Feihe Ltd. (b)
 
2,688,000
1,469,976
China Film Co. Ltd. (A Shares) (a)
 
81,600
133,705
China Galaxy Securities Co. Ltd.:
 
 
 
 (A Shares)
 
224,300
383,604
 (H Shares)
 
2,749,000
1,489,043
China Gas Holdings Ltd.
 
2,015,100
1,886,801
China Great Wall Securities Co. Ltd. (A Shares)
 
178,900
188,615
China Greatwall Technology Group Co. Ltd. (A Shares)
 
143,400
192,305
China Hongqiao Group Ltd. (c)
 
1,755,700
2,422,655
China Huishan Dairy Holdings Co. Ltd. (a)(d)
 
2,302,000
3
China International Capital Corp. Ltd.
 
95,000
435,763
China International Capital Corp. Ltd. (H Shares) (b)
 
1,191,400
1,436,646
China Jushi Co. Ltd. (A Shares)
 
177,614
291,953
China Life Insurance Co. Ltd.:
 
 
 
 (A Shares)
 
96,100
405,037
 (H Shares)
 
5,607,747
7,384,972
China Literature Ltd. (a)(b)
 
303,500
1,084,119
China Longyuan Power Grid Corp. Ltd. (H Shares)
 
2,475,000
1,733,820
China Medical System Holdings Ltd.
 
1,000,000
892,850
China Mengniu Dairy Co. Ltd.
 
2,334,000
4,834,829
China Merchants Bank Co. Ltd.:
 
 
 
 (A Shares)
 
890,200
4,200,311
 (H Shares)
 
2,923,921
12,663,085
China Merchants Energy Shipping Co. Ltd. (A Shares)
 
361,900
425,682
China Merchants Expressway Network & Technology Holdings Co. Ltd. (A Shares) (a)
 
138,700
211,944
China Merchants Holdings International Co. Ltd.
 
932,242
1,231,133
China Merchants Securities Co. Ltd. (A Shares)
 
329,150
662,996
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares)
 
402,500
468,935
China Minmetals Rare Earth Co. Ltd. (A Shares)
 
47,200
182,304
China Minsheng Banking Corp. Ltd.:
 
 
 
 (A Shares)
 
1,438,700
784,472
 (H Shares)
 
5,171,061
1,891,995
China National Building Materials Co. Ltd. (H Shares)
 
2,870,000
1,110,512
China National Chemical Engineering Co. Ltd. (A Shares)
 
270,208
256,602
China National Medicines Corp. Ltd. (A Shares)
 
33,400
160,060
China National Nuclear Power Co. Ltd. (A Shares)
 
839,000
1,069,665
China National Software & Service Co. Ltd. (A Shares)
 
38,210
159,054
China Northern Rare Earth Group High-Tech Co. Ltd.
 
160,800
427,341
China Oilfield Services Ltd. (H Shares)
 
1,342,000
1,435,010
China Overseas Land and Investment Ltd.
 
2,839,202
5,220,932
China Overseas Property Holdings Ltd. (c)
 
975,000
593,030
China Pacific Insurance (Group) Co. Ltd.
 
344,300
1,220,369
China Pacific Insurance (Group) Co. Ltd. (H Shares)
 
1,880,628
4,120,604
China Petroleum & Chemical Corp.:
 
 
 
 (A Shares)
 
1,462,500
1,278,949
 (H Shares)
 
17,984,704
10,735,105
China Power International Development Ltd.
 
3,666,619
1,479,612
China Railway Group Ltd.:
 
 
 
 (A Shares)
 
857,500
774,540
 (H Shares)
 
3,225,000
1,591,405
China Railway Signal & Communications Corp. (A Shares)
 
321,770
239,637
China Resource Gas Group Ltd.
 
686,300
2,157,022
China Resources Beer Holdings Co. Ltd.
 
1,202,144
5,479,447
China Resources Land Ltd.
 
2,378,812
8,553,821
China Resources Microelectronics Ltd. (A Shares)
 
58,851
295,505
China Resources Mixc Lifestyle Services Ltd. (b)(c)
 
507,600
1,786,632
China Resources Pharmaceutical Group Ltd. (b)
 
1,164,000
752,715
China Resources Power Holdings Co. Ltd.
 
1,426,940
3,548,594
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares)
 
43,900
363,281
China Ruyi Holdings Ltd. (a)(c)
 
4,296,000
1,076,031
China Shenhua Energy Co. Ltd.:
 
 
 
 (A Shares)
 
379,885
2,086,652
 (H Shares)
 
2,388,702
9,914,238
China Southern Airlines Ltd.:
 
 
 
 (A Shares) (a)
 
442,500
345,663
 (H Shares) (a)(c)
 
140,000
50,620
China State Construction Engineering Corp. Ltd. (A Shares)
 
1,861,040
1,374,690
China State Construction International Holdings Ltd.
 
1,493,500
1,575,796
China Taiping Insurance Group Ltd.
 
1,064,455
973,248
China Three Gorges Renewables Group Co. Ltd. (A Shares)
 
1,268,500
820,261
China Tourism Group Duty Free Corp. Ltd.:
 
 
 
 (A Shares)
 
88,300
906,001
 (H Shares) (b)(c)
 
80,000
704,494
China Tower Corp. Ltd. (H Shares) (b)
 
32,857,000
3,846,219
China United Network Communications Ltd. (A Shares)
 
1,412,400
910,902
China Vanke Co. Ltd.:
 
 
 
 (A Shares)
 
387,800
394,746
 (H Shares) (c)
 
1,713,300
1,004,827
China XD Electric Co. Ltd. (A Shares) (a)
 
229,100
222,255
China Yangtze Power Co. Ltd. (A Shares)
 
1,088,000
3,871,090
China Zhenhua (Group) Science & Technology Co. Ltd. (A Shares)
 
24,700
158,781
China Zheshang Bank Co. Ltd.
 
950,450
392,961
Chongqing Brewery Co. Ltd. (A Shares)
 
21,500
208,362
Chongqing Changan Automobile Co. Ltd. (A Shares)
 
368,174
744,645
Chongqing Rural Commercial Bank Co. Ltd. (A Shares)
 
390,600
250,113
Chongqing Taiji Industry Group Co. Ltd. (A Shares) (a)
 
24,700
123,571
Chongqing Zhifei Biological Products Co. Ltd. (A Shares)
 
106,750
515,599
Chow Tai Fook Jewellery Group Ltd.
 
1,480,800
2,014,849
CITIC Pacific Ltd.
 
4,312,941
4,081,778
CITIC Securities Co. Ltd.:
 
 
 
 (A Shares)
 
528,700
1,378,297
 (H Shares)
 
1,286,590
2,048,400
Cmoc Group Ltd.:
 
 
 
 (A Shares)
 
808,400
994,008
 (H Shares)
 
2,737,000
2,567,881
CNGR Advanced Material Co. Ltd.
 
29,800
215,028
CNPC Capital Co. Ltd. (A Shares) (a)
 
374,400
302,397
Contemporary Amperex Technology Co. Ltd.
 
195,720
5,474,325
COSCO Shipping Development Co. Ltd. (A Shares)
 
439,700
149,080
COSCO Shipping Energy Transportation Co. Ltd.:
 
 
 
 (A Shares)
 
162,000
356,491
 (H Shares)
 
946,000
1,109,434
COSCO SHIPPING Holdings Co. Ltd.:
 
 
 
 (A Shares)
 
600,720
968,625
 (H Shares)
 
2,164,800
2,800,891
Cosco Shipping Ports Ltd.
 
924,473
567,311
Country Garden Holdings Co. Ltd. (a)(c)
 
9,333,662
593,616
Country Garden Services Holdings Co. Ltd.
 
1,610,000
1,074,096
CRRC Corp. Ltd.:
 
 
 
 (A Shares)
 
1,016,800
979,055
 (H Shares)
 
3,356,000
1,852,489
CSC Financial Co. Ltd. (A Shares)
 
192,500
590,938
CSPC Innovation Pharmaceutical Co. Ltd. (A Shares)
 
62,520
295,774
CSPC Pharmaceutical Group Ltd.
 
6,617,608
5,433,931
CSSC Science & Technology Co. Ltd. (a)
 
66,900
146,635
Daqin Railway Co. Ltd. (A Shares)
 
697,800
661,522
DaShenLin Pharmaceutical Group Co. Ltd.
 
50,573
151,705
Datang International Power Generation Co. Ltd. (A Shares)
 
459,300
190,839
Dong-E-E-Jiao Co. Ltd. (A Shares)
 
28,900
273,630
Dongfang Electric Corp. Ltd. (A Shares)
 
123,600
287,200
Dongfeng Motor Group Co. Ltd. (H Shares)
 
1,681,000
609,603
Dongxing Securities Co. Ltd. (A Shares)
 
142,900
173,370
East Buy Holding Ltd. (a)(b)(c)
 
339,000
716,715
East Money Information Co. Ltd. (A Shares)
 
705,208
1,265,020
Eastroc Beverage Group Co. Ltd. (a)
 
11,900
349,197
Ecovacs Robotics Co. Ltd. Class A
 
26,000
177,258
Empyrean Technology Co. Ltd. (A Shares) (a)
 
16,100
173,610
ENN Energy Holdings Ltd.
 
587,043
5,001,837
ENN Natural Gas Co. Ltd. (A Shares)
 
114,900
286,273
Eoptolink Technology, Inc. Ltd. (A Shares)
 
31,600
370,665
Eve Energy Co. Ltd. (A shares)
 
91,074
464,494
Everbright Securities Co. Ltd. (A Shares)
 
172,858
393,569
Everdisplay Optronics Shanghai Co. Ltd. (A Shares) (a)
 
520,989
159,162
Fangda Carbon New Material Co. Ltd. (A Shares) (a)
 
178,748
124,879
Far East Horizon Ltd.
 
1,439,000
1,068,182
FAW Jiefang Group Co. Ltd. (A Shares) (a)
 
138,000
170,858
First Capital Securities Co. Ltd. (A Shares)
 
185,900
146,863
Flat Glass Group Co. Ltd. (c)
 
326,000
785,260
Flat Glass Group Co. Ltd. (A Shares)
 
65,600
240,075
Focus Media Information Technology Co. Ltd. (A Shares)
 
641,240
573,994
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares)
 
206,076
1,113,007
Fosun International Ltd.
 
1,823,454
1,075,823
Founder Securities Co. Ltd. (A Shares)
 
366,100
452,355
Foxconn Industrial Internet Co. Ltd. (A Shares)
 
589,297
1,947,169
Fujian Sunner Development Co. Ltd. A Shares
 
55,800
120,397
Fuyao Glass Industries Group Co. Ltd.:
 
 
 
 (A Shares)
 
92,500
636,011
 (H Shares) (b)
 
446,000
2,670,230
GalaxyCore, Inc. (A Shares)
 
77,240
176,149
Ganfeng Lithium Group Co. Ltd.:
 
 
 
 (A Shares)
 
60,740
294,493
 (H Shares) (b)
 
323,120
947,544
GCL Technology Holdings Ltd.
 
15,982,000
2,367,141
GD Power Development Co. Ltd. (A Shares)
 
791,800
559,556
Geely Automobile Holdings Ltd.
 
4,476,517
5,387,750
GEM Co. Ltd. (A Shares)
 
228,300
218,849
Genscript Biotech Corp. (a)
 
866,000
1,277,064
GF Securities Co. Ltd.:
 
 
 
 (A Shares)
 
234,800
426,976
 (H Shares)
 
813,428
810,371
Giant Biogene Holding Co. Ltd. (b)
 
221,400
1,348,932
Giant Network Group Co. Ltd. (A Shares)
 
87,700
141,773
Gigadevice Semiconductor Beijing, Inc. (A Shares)
 
29,760
321,025
Ginlong Technologies Co. Ltd. (A Shares)
 
17,800
131,067
GoerTek, Inc. (A Shares)
 
152,700
331,584
Goldwind Science & Technology Co. Ltd. (A Shares)
 
153,700
161,370
Goneo Group Co. Ltd. (A Shares)
 
19,900
327,755
GoodWe Technologies Co. Ltd. (A Shares)
 
7,711
98,610
Gotion High-tech Co. Ltd. (A Shares) (a)
 
79,500
205,208
Great Wall Motor Co. Ltd.:
 
 
 
 (A Shares)
 
95,100
343,017
 (H Shares)
 
1,762,500
2,663,389
Gree Electric Appliances, Inc. of Zhuhai (A Shares)
 
125,000
725,198
Greenland Holdings Corp. Ltd. (A Shares) (a)
 
518,900
131,430
GRG Banking Equipment Co. Ltd. (A Shares)
 
110,600
181,251
Guangdong Haid Group Co. Ltd. (A Shares)
 
73,900
508,501
Guangdong HEC Technology Holding Co. Ltd. (A Shares) (a)
 
133,700
163,338
Guangdong Investment Ltd.
 
2,183,126
1,140,389
Guanghui Energy Co. Ltd. (A Shares)
 
291,500
296,336
Guangzhou Automobile Group Co. Ltd.
 
261,900
316,488
Guangzhou Automobile Group Co. Ltd. (H Shares)
 
2,054,200
848,640
Guangzhou Baiyun International Airport Co. Ltd. (A Shares) (a)
 
104,000
148,307
Guangzhou Baiyunshan Pharma Health (A Shares)
 
61,900
273,479
Guangzhou Haige Communications Group (A Shares)
 
110,800
166,282
Guangzhou Kingmed Diagnostics Group Co. Ltd. (A Shares)
 
20,800
109,896
Guangzhou Shiyuan Electronic Technology Co. Ltd. (A Shares)
 
31,600
145,503
Guangzhou Tinci Materials Technology Co. Ltd. (A Shares)
 
85,700
247,568
Guangzhou Yuexiu Financial Holdings Group Co. Ltd. (A Shares)
 
185,331
147,622
Guolian Securities Co. Ltd. (a)(d)
 
106,100
153,265
Guosen Securities Co. Ltd. (A Shares)
 
284,400
351,648
Guotai Junan Securities Co. Ltd. (A Shares)
 
333,300
630,880
Guoyuan Securities Co. Ltd. (A Shares)
 
193,170
181,258
H World Group Ltd. ADR
 
153,595
5,638,472
Haidilao International Holding Ltd. (b)
 
1,240,000
2,797,698
Haier Smart Home Co. Ltd.
 
1,747,000
6,470,931
Haier Smart Home Co. Ltd. (A Shares)
 
331,500
1,379,146
Hainan Airlines Co. Ltd. (A Shares) (a)
 
1,906,300
359,611
Hainan Airport Infrastructure Co. Ltd. (A Shares) (a)
 
505,300
243,704
Haitian International Holdings Ltd.
 
473,000
1,540,490
Haitong Securities Co. Ltd.:
 
 
 
 (A Shares)
 
371,100
427,889
 (H Shares)
 
2,196,800
1,049,239
Hangzhou Binjiang Real Estate Group Co. Ltd. (A Shares)
 
137,900
127,585
Hangzhou Chang Chuan Technology Co. Ltd.
 
27,800
111,620
Hangzhou First Applied Material Co. Ltd. (A Shares)
 
82,972
310,251
Hangzhou Greatstar Industrial Co. Ltd. (A Shares)
 
53,400
186,099
Hangzhou Oxygen Plant Group Co. Ltd. (A Shares)
 
43,700
164,394
Hangzhou Robam Appliances Co. Ltd. (A Shares)
 
41,800
136,169
Hangzhou Silan Microelectronics Co. Ltd. (A Shares)
 
74,300
195,765
Hangzhou Tigermed Consulting Co. Ltd. (A Shares)
 
16,700
135,645
Hansoh Pharmaceutical Group Co. Ltd. (b)
 
880,000
1,944,532
Haohua Chemical Science & Technology Co. Ltd. (A Shares)
 
33,800
144,706
Hebei Yangyuan Zhihui Beverage Co. Ltd. (A Shares) (a)
 
56,100
203,146
Heilongjiang Agriculture Co. Ltd. (A Shares)
 
78,100
140,923
Henan Shenhuo Coal & Power Co. Ltd. (A Shares)
 
99,800
297,852
Henan Shuanghui Investment & Development Co. Ltd. (A Shares)
 
153,700
571,528
Hengan International Group Co. Ltd.
 
473,900
1,590,963
Hengdian Group DMEGC Magnetics Co. Ltd. (A Shares)
 
73,000
144,730
Hengli Petrochemical Co. Ltd. (A Shares) (a)
 
312,920
668,106
Hengtong Optic-electric Co. Ltd. (A Shares)
 
109,700
213,565
Hengyi Petrochemical Co. Ltd. (A Shares) (a)
 
162,680
168,016
Hesteel Co. Ltd. (A Shares)
 
451,700
136,290
Hisense Electric Co. Ltd.
 
57,900
222,614
Hithink RoyalFlush Information Network Co. Ltd. (A Shares)
 
23,900
396,389
HLA Group Corp. Ltd. (A Shares) (a)
 
194,100
243,760
Hongfa Technology Co. Ltd. (A Shares)
 
23,280
91,553
Hoshine Silicon Industry Co. Ltd. (A Shares)
 
35,100
233,777
Hoymiles Power Electronics, Inc. (A Shares)
 
3,547
110,755
Hua Hong Semiconductor Ltd. (b)
 
437,000
861,198
Huadian Power International Corp. Ltd. (A Shares)
 
377,700
352,073
Huadong Medicine Co. Ltd. (A Shares)
 
77,900
353,870
Huafon Chemical Co. Ltd. (A Shares)
 
220,800
247,594
Huagong Tech Co. Ltd. (A Shares) (a)
 
44,800
204,996
Huaibei Mining Holdings Co. Ltd. (A Shares)
 
110,200
293,157
Hualan Biological Engineer, Inc. (A Shares)
 
81,070
217,641
Huaneng Power International, Inc.:
 
 
 
 (A Shares) (a)
 
362,000
467,137
 (H Shares) (a)
 
3,236,186
2,059,837
Huatai Securities Co. Ltd.:
 
 
 
 (A Shares)
 
302,200
571,524
 (H Shares) (b)
 
995,200
1,176,943
Huaxia Bank Co. Ltd. (A Shares)
 
588,058
544,268
Huayu Automotive Systems Co. Ltd. (A Shares)
 
140,200
318,332
Hubei Jumpcan Pharmaceutical Co. Ltd. (A Shares)
 
40,900
231,965
Huizhou Desay SV Automotive Co. Ltd.
 
24,700
426,606
Humanwell Healthcare Group Co. Ltd. (A Shares)
 
72,600
202,441
Hunan Valin Steel Co. Ltd. (A Shares)
 
306,700
220,685
Hundsun Technologies, Inc. (A Shares)
 
84,519
238,784
Hwatsing Technology Co. Ltd. (A Shares)
 
7,094
166,359
Hygeia Healthcare Holdings Co. (b)(c)
 
257,600
1,063,227
Hygon Information Technology Co. Ltd. (A Shares)
 
86,189
926,888
IEIT Systems Co. Ltd. (A Shares)
 
65,472
365,119
iFlytek Co. Ltd. (A Shares)
 
102,900
636,138
IMEIK Technology Development Co. Ltd. (A Shares)
 
13,440
397,567
Industrial & Commercial Bank of China Ltd.:
 
 
 
 (A Shares)
 
4,401,000
3,296,611
 (H Shares)
 
45,968,000
24,649,355
Industrial Bank Co. Ltd. (A Shares)
 
923,600
2,145,323
Industrial Securities Co. Ltd. (A Shares)
 
382,970
294,240
Ingenic Semiconductor Co. Ltd. (A Shares)
 
21,400
186,406
Inner Mongoli Yili Industries Co. Ltd. (A Shares)
 
282,600
1,113,697
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) (a)
 
2,012,700
443,182
Inner Mongolia Dian Tou Energy Corp. Ltd.
 
98,800
287,140
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. (A Shares)
 
374,700
217,457
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)
 
787,190
1,529,921
Inner Mongolia Yuan Xing Energy Co. Ltd. (A Shares)
 
165,900
164,071
Innovent Biologics, Inc. (a)(b)
 
899,500
4,354,448
iQIYI, Inc. ADR (a)
 
329,154
1,596,397
iRay Technology Co. Ltd. (A Shares)
 
4,540
124,383
iSoftStone Information Technology Group Co. Ltd. (A Shares)
 
42,350
243,819
JA Solar Technology Co. Ltd. (A Shares)
 
147,704
289,667
Jason Furniture Hangzhou Co. Ltd. (A Shares)
 
36,420
167,655
JCET Group Co. Ltd. (A Shares)
 
79,700
280,988
JD Health International, Inc. (a)(b)
 
827,400
2,822,117
JD Logistics, Inc. (a)(b)
 
1,470,100
1,591,126
JD.com, Inc. Class A
 
1,737,000
25,027,343
Jiangsu Eastern Shenghong Co. Ltd.
 
292,700
400,008
Jiangsu Expressway Co. Ltd. (H Shares)
 
904,000
886,568
Jiangsu Hengli Hydraulic Co. Ltd.
 
59,676
420,116
Jiangsu Hengrui Medicine Co. Ltd. (A Shares)
 
283,758
1,801,948
Jiangsu King's Luck Brewery JSC Ltd. (A Shares)
 
55,700
440,489
Jiangsu Nhwa Pharmaceutical Co. Ltd. (A Shares) (a)
 
44,900
154,778
Jiangsu Pacific Quartz Co. Ltd. (A Shares)
 
16,100
173,774
Jiangsu Phoenix Publishing & Media Corp. Ltd. (a)
 
113,000
158,733
Jiangsu Yanghe Brewery JSC Ltd. (A Shares)
 
66,900
875,754
Jiangsu Yangnong Chemical Co. Ltd. (A Shares)
 
18,070
160,393
Jiangsu Yoke Technology Co. Ltd. (A Shares)
 
21,100
185,618
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. (A Shares)
 
44,500
237,305
Jiangsu Zhongtian Technology Co. Ltd. (A Shares)
 
151,800
283,236
Jiangxi Copper Co. Ltd.:
 
 
 
 (A Shares)
 
85,100
305,136
 (H Shares)
 
835,000
1,700,587
Jiangxi Special Electric Motor Co. Ltd. (A Shares) (a)
 
76,500
102,395
Jinduicheng Molybdenum Co. Ltd. (A Shares)
 
143,400
224,344
Jinko Solar Co. Ltd. (A Shares)
 
371,486
386,122
JiuGui Liquor Co. Ltd. (A Shares)
 
14,500
101,929
Jizhong Energy Resources Co. Ltd. (A Shares)
 
155,600
160,921
Joincare Pharmaceutical Group Industry Co. Ltd. (A Shares)
 
84,000
140,731
Jointown Pharmaceutical Group (A Shares)
 
173,074
195,834
Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd. (A Shares) (a)
 
35,000
142,328
Juneyao Airlines Co. Ltd. (A shares) (a)
 
97,800
165,815
Kangmei Pharmaceutical Co. Ltd. rights (a)(d)
 
16,959
0
Kanzhun Ltd. ADR
 
165,101
3,267,349
KE Holdings, Inc. ADR
 
485,466
7,340,246
Keda Industrial Group Co. Ltd.
 
86,900
121,070
Kingboard Chemical Holdings Ltd.
 
493,900
1,085,482
Kingdee International Software Group Co. Ltd. (a)
 
2,154,000
2,272,525
Kingnet Network Co. Ltd. (A Shares)
 
95,700
155,073
Kingsoft Corp. Ltd.
 
708,600
2,302,230
Kuaishou Technology Class B (a)(b)
 
1,737,600
12,181,809
Kuang-Chi Technologies Co. Ltd. (A Shares) (a)
 
95,800
258,115
Kunlun Energy Co. Ltd.
 
2,889,000
2,800,536
Kunlun Tech Co. Ltd. (A Shares) (a)
 
54,000
294,758
Kweichow Moutai Co. Ltd. (A Shares)
 
55,900
13,106,660
Lb Group Co. Ltd. (A Shares)
 
105,700
305,591
Lenovo Group Ltd.
 
5,971,000
6,715,940
Lens Technology Co. Ltd. (A Shares)
 
223,200
438,751
Lepu Medical Technology Beijing Co. Ltd. (A Shares)
 
83,400
168,525
Li Auto, Inc. Class A (a)(c)
 
851,036
11,150,188
Li Ning Co. Ltd.
 
1,751,500
4,585,197
Liaoning Port Co. Ltd. (A Shares)
 
832,300
165,371
Lingyi iTech Guangdong Co. (A Shares)
 
312,900
223,766
Livzon Pharmaceutical Group, Inc. (A Shares)
 
27,200
150,446
Longfor Properties Co. Ltd. (b)(c)
 
1,465,595
2,170,760
LONGi Green Energy Technology Co. Ltd.
 
337,199
844,373
Luxshare Precision Industry Co. Ltd. (A Shares)
 
319,024
1,278,809
Luzhou Laojiao Co. Ltd. (A Shares)
 
65,500
1,676,604
Mango Excellent Media Co. Ltd. (A Shares)
 
83,070
267,462
Maxscend Microelectronics Co. Ltd. (A Shares)
 
23,828
296,896
Meihua Holdings Group Co. Ltd. (A Shares)
 
130,100
199,240
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) (a)
 
173,288
105,695
Meituan Class B (a)(b)
 
3,762,920
51,380,908
Metallurgical Corp. China Ltd. (A Shares)
 
790,800
356,190
MGI Tech Co. Ltd. (A Shares)
 
18,527
149,043
Midea Group Co. Ltd. (A Shares)
 
156,100
1,501,333
Ming Yang Smart Energy Group Ltd. (A Shares)
 
101,100
136,166
MINISO Group Holding Ltd.
 
281,084
1,585,609
Montage Technology Co. Ltd. (A Shares)
 
50,772
352,623
Muyuan Foodstuff Co. Ltd. (A Shares)
 
243,054
1,461,529
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd.
 
71,853
135,601
Nanjing Securities Co. Ltd. (A Shares)
 
163,400
184,511
NARI Technology Co. Ltd. (A Shares)
 
357,675
1,156,858
National Silicon Industry Group Co. Ltd. (A Shares) (a)
 
122,787
224,087
NAURA Technology Group Co. Ltd.
 
23,600
1,033,439
NetEase, Inc.
 
1,434,320
26,885,813
New China Life Insurance Co. Ltd.
 
80,700
348,988
New China Life Insurance Co. Ltd. (H Shares)
 
640,900
1,229,092
New Hope Liuhe Co. Ltd. (A Shares) (a)
 
201,300
247,492
New Oriental Education & Technology Group, Inc. (a)
 
1,096,310
8,711,242
Ninestar Corp. (A Shares)
 
63,000
219,189
Ningbo Deye Technology Co. Ltd. (A Shares)
 
19,160
246,558
Ningbo Joyson Electronic Corp. (A shares)
 
62,600
151,306
Ningbo Orient Wires & Cables Co. Ltd. (A Shares)
 
30,600
186,030
Ningbo Sanxing Medical Electric Co. Ltd. (a)
 
62,800
289,932
Ningbo Shanshan Co. Ltd. (A Shares)
 
100,600
164,012
Ningbo Tuopu Group Co. Ltd. (A Shares)
 
51,700
444,883
Ningxia Baofeng Energy Group Co. Ltd.
 
326,300
745,895
NIO, Inc. sponsored ADR (a)(c)
 
1,002,366
4,731,168
Nongfu Spring Co. Ltd. (H Shares) (b)
 
1,493,000
8,771,256
Offcn Education Technology Co. A Shares (a)
 
273,900
99,998
Offshore Oil Enginering Co. Ltd. (A Shares)
 
196,800
172,466
OFILM Group Co. Ltd. (A Shares) (a)
 
145,100
174,927
Oppein Home Group, Inc. (A Shares)
 
22,480
193,039
Orient Securities Co. Ltd. (A Shares)
 
331,039
380,340
Oriental Pearl Group Co. Ltd. (a)
 
149,100
141,711
Pangang Group Vanadium Titanium & Resources Co. Ltd. (A Shares) (a)
 
411,000
175,779
PDD Holdings, Inc. ADR (a)
 
443,200
55,479,776
People's Insurance Co. of China Group Ltd.:
 
 
 
 (A Shares)
 
366,200
264,257
 (H Shares)
 
6,579,552
2,159,575
People.cn Co. Ltd. (A Shares) (a)
 
49,200
167,667
Perfect World Co. Ltd. (A Shares)
 
86,100
118,546
PetroChina Co. Ltd.:
 
 
 
 (A Shares)
 
862,100
1,216,290
 (H Shares)
 
15,783,790
14,706,413
Pharmaron Beijing Co. Ltd. (A Shares)
 
66,100
179,007
PICC Property & Casualty Co. Ltd. (H Shares)
 
5,113,568
6,353,011
Ping An Bank Co. Ltd. (A Shares)
 
862,000
1,281,224
Ping An Insurance Group Co. of China Ltd.:
 
 
 
 (A Shares)
 
463,796
2,636,476
 (H Shares)
 
4,989,641
22,613,469
Piotech, Inc. (A Shares)
 
8,392
208,702
Poly Developments & Holdings (A Shares)
 
531,500
652,138
Pop Mart International Group Ltd. (b)
 
350,000
1,497,801
Postal Savings Bank of China Co. Ltd.
 
1,288,700
852,856
Postal Savings Bank of China Co. Ltd. (H Shares) (b)
 
5,893,000
3,053,474
Power Construction Corp. of China Ltd. (A Shares)
 
763,500
534,238
Qi An Xin Technology Group, Inc. (A Shares) (a)
 
30,722
130,595
Qifu Technology, Inc. ADR
 
90,520
1,655,611
Qinghai Salt Lake Potash Co. Ltd. Class A (a)
 
241,700
552,151
Range Intelligent Computing Technology Group Co. Ltd. (A Shares)
 
63,900
275,054
Risen Energy Co. Ltd. (A Shares)
 
50,800
90,746
Rockchip Electronics Co. Ltd.
 
18,700
147,905
Rongsheng Petrochemical Co. Ltd. (A Shares)
 
449,900
694,903
SAIC Motor Corp. Ltd. (A Shares)
 
343,000
702,339
Sailun Group Co. Ltd. A Shares
 
138,900
317,461
Sanan Optoelectronics Co. Ltd. (A Shares)
 
222,300
383,065
Sangfor Technologies, Inc. (a)
 
18,700
140,871
Sany Heavy Equipment International Holdings Co. Ltd. (c)
 
828,000
581,820
Sany Heavy Industry Co. Ltd. (A Shares)
 
377,600
848,498
Satellite Chemical Co. Ltd. (A Shares) (a)
 
149,530
397,157
SDIC Capital Co. Ltd.
 
285,000
251,134
SDIC Power Holdings Co. Ltd. (A Shares)
 
331,100
727,110
Seazen Holdings Co. Ltd. (A Shares) (a)
 
99,900
135,330
Seres Group Co. Ltd. (A Shares) (a)
 
67,100
836,352
SF Holding Co. Ltd. (A Shares)
 
217,800
1,086,434
SG Micro Corp. (A Shares)
 
20,892
220,658
Shaanxi Coal Industry Co. Ltd. (A Shares)
 
431,000
1,459,711
Shan Xi Hua Yang Group New Energy Co. Ltd.
 
159,850
208,344
Shandong Gold Mining Co. Ltd.:
 
 
 
 (A Shares)
 
160,944
636,398
 (H Shares) (b)
 
540,500
1,167,915
Shandong Himile Mechanical Science & Technology Co. Ltd. (A Shares) (a)
 
35,700
195,892
Shandong Hualu Hengsheng Chemical Co. Ltd. (A Shares)
 
94,400
387,484
Shandong Linglong Tyre Co. Ltd. (A Shares)
 
65,500
201,830
Shandong Nanshan Aluminum Co. Ltd. (A Shares)
 
518,200
255,347
Shandong Sun Paper Industry JSC Ltd. (A Shares)
 
124,200
266,656
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)
 
1,844,000
1,250,505
Shanghai Aiko Solar Energy Co. Ltd. (A Shares)
 
81,420
134,205
Shanghai Bairun Investment Holding Group Co. Ltd. (A Shares)
 
46,660
131,003
Shanghai Baosight Software Co. Ltd.
 
414,762
886,048
Shanghai Baosight Software Co. Ltd. (A Shares)
 
90,268
509,975
Shanghai Construction Group Co. Ltd. (A Shares)
 
390,994
129,231
Shanghai Electric Group Co. Ltd. (A Shares) (a)
 
562,600
333,930
Shanghai Electric Power Co. Ltd. (A Shares)
 
123,300
156,082
Shanghai Fosun Pharmaceutical (Group) Co. Ltd.:
 
 
 
 (A Shares)
 
92,400
301,647
 (H Shares)
 
371,500
583,204
Shanghai Friendess Electronic Technology Corp. Ltd. (A Shares)
 
6,542
292,273
Shanghai International Airport Co. Ltd. (A Shares) (a)
 
54,900
284,780
Shanghai International Port Group Co. Ltd. (A Shares)
 
309,343
239,612
Shanghai Jinjiang International Hotels Co. Ltd. (A Shares)
 
40,500
161,106
Shanghai Junshi Biosciences Co. Ltd. (A Shares) (a)
 
34,078
141,247
Shanghai Lingang Holdings Corp. Ltd. (A Shares)
 
106,200
154,652
Shanghai M&G Stationery, Inc. (A Shares)
 
41,300
201,184
Shanghai Moons' Electric Co. Ltd. (A Shares) (a)
 
18,700
144,164
Shanghai Pharmaceuticals Holding Co. Ltd.:
 
 
 
 (A Shares)
 
150,400
371,792
 (H Shares)
 
500,209
710,827
Shanghai Pudong Development Bank Co. Ltd. (A Shares)
 
1,302,409
1,380,710
Shanghai Putailai New Energy Technology Co. Ltd.
 
95,274
242,346
Shanghai RAAS Blood Products Co. Ltd. (A Shares)
 
295,400
292,145
Shanghai Rural Commercial Bank Co. Ltd. (A Shares)
 
428,400
399,606
Shanghai United Imaging Healthcare Co. Ltd. (A Shares) (a)
 
36,662
669,868
Shanghai Yuyuan Tourist Mart Group Co. Ltd.
 
171,500
140,158
Shanghai Zhangjiang High Ltd. (A Shares) (a)
 
68,800
174,418
Shanxi Coal International Energy Group Co. Ltd. (A Shares) (a)
 
88,100
173,961
Shanxi Lu'an Environmental Energy Development Co. Ltd. (A Shares)
 
132,900
387,514
Shanxi Meijin Energy Co. Ltd. (A Shares) (a)
 
192,400
160,852
Shanxi Taigang Stainless Steel Co. Ltd. (A Shares)
 
253,300
134,807
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares)
 
54,260
1,954,275
Shanxi Xishan Coal & Electricity Power Co. Ltd. (A Shares)
 
252,090
364,769
Shede Spirits Co. Ltd. (A Shares)
 
14,800
148,444
Shenergy Co. Ltd. (A Shares)
 
216,600
254,040
Shengyi Technology Co. Ltd.
 
105,700
281,862
Shennan Circuits Co. Ltd. (A Shares)
 
22,940
294,249
Shenwan Hongyuan Group Co. Ltd. (A Shares)
 
1,000,200
647,271
Shenzhen Capchem Technology Co. Ltd. (A Shares)
 
33,620
155,820
Shenzhen Energy Group Co. Ltd. (A Shares)
 
210,360
209,759
Shenzhen Goodix Technology Co. Ltd. (A Shares) (a)
 
20,400
172,166
Shenzhen Inovance Technology Co. Ltd. (A Shares)
 
59,600
488,777
Shenzhen Kaifa Technology Co. Ltd. (A Shares)
 
69,700
132,266
Shenzhen Kangtai Biological Products Co. Ltd.
 
49,620
138,156
Shenzhen Kedali Industry Co. Ltd.
 
12,000
157,668
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)
 
53,900
2,263,251
Shenzhen New Industries Biomedical Engineering Co. Ltd.
 
35,000
341,140
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) (a)
 
362,300
131,653
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares)
 
49,600
217,899
Shenzhen SC New Energy Technology Corp. (A Shares)
 
15,500
146,564
Shenzhen Sed Industry Co. Ltd. (A Shares)
 
50,500
122,038
Shenzhen Transsion Holdings Co. Ltd. (A Shares)
 
35,897
710,938
Shenzhen YUTO Packaging Technology Co. Ltd. (A Shares)
 
41,400
152,603
Shenzhou International Group Holdings Ltd.
 
613,000
6,025,307
Shijiazhuang Yiling Pharmaceutical Co. Ltd. (A Shares)
 
74,360
192,942
Sichuan Changhong Electric Co. Ltd. (A Shares)
 
205,000
156,935
Sichuan Chuantou Energy Co. Ltd. (A Shares)
 
203,200
466,279
Sichuan Hebang Biotechnology Co. Ltd. (A Shares)
 
391,000
113,202
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares)
 
66,500
311,400
Sichuan Road & Bridge (Group) Co. Ltd. (A Shares)
 
322,660
322,853
Sichuan Swellfun Co. Ltd. (A Shares)
 
21,700
134,566
Sieyuan Electric Co. Ltd. (A Shares)
 
34,300
307,768
Silergy Corp.
 
242,000
3,208,318
Sinolink Securities Co. Ltd. (A Shares)
 
165,200
198,872
Sinoma International Engineering Co. Ltd. (A Shares)
 
117,300
205,170
Sinoma Science & Technology Co. Ltd. (A Shares)
 
74,600
159,551
Sinomine Resource Group Co. Ltd. (A Shares)
 
32,472
158,814
Sinopharm Group Co. Ltd. (H Shares)
 
994,600
2,511,725
Sinotruk Hong Kong Ltd.
 
511,500
1,272,975
SKSHU Paint Co. Ltd. (A Shares)
 
23,448
109,751
Smoore International Holdings Ltd. (b)(c)
 
1,366,000
1,189,670
Songcheng Performance Development Co. Ltd. (A Shares)
 
116,060
173,617
Soochow Securities Co. Ltd. (A Shares)
 
222,160
209,183
Southwest Securities Co. Ltd. (A Shares)
 
294,500
160,867
Spring Airlines Co. Ltd. (A Shares) (a)
 
43,300
338,702
StarPower Semiconductor Ltd. (A Shares)
 
7,600
145,427
Sungrow Power Supply Co. Ltd. (A Shares)
 
66,100
938,745
Sunny Optical Technology Group Co. Ltd.
 
528,700
2,557,703
Sunresin New Materials Co. Ltd. (A Shares)
 
22,450
144,403
Sunwoda Electronic Co. Ltd. (A Shares)
 
82,900
173,559
SUPCON Technology Co. Ltd. (A Shares)
 
35,385
231,948
Suzhou Dongshan Precision Manufacturing Co. Ltd. (A Shares)
 
76,500
161,723
Suzhou Maxwell Technologies Co. Ltd. (A Shares)
 
12,440
196,397
Suzhou TFC Optical Communication Co. Ltd. (A Shares)
 
17,600
385,615
TAL Education Group ADR (a)
 
326,572
3,931,927
TBEA Co. Ltd. (A Shares)
 
225,000
438,131
TCL Technology Group Corp. (A Shares)
 
839,670
552,014
TCL Zhonghuan Renewable Energy Technology Co. Ltd. (A Shares)
 
180,075
258,452
Tencent Holdings Ltd.
 
4,905,000
215,247,098
Tencent Music Entertainment Group ADR (a)
 
556,790
6,987,715
Thunder Software Technology Co. Ltd. (A Shares)
 
20,500
137,375
Tianfeng Securities Co. Ltd. (A Shares) (a)
 
381,500
153,086
Tianjin 712 Communication & Broadcasting Co. Ltd.
 
34,500
105,182
Tianma Microelectronics Co. Ltd. (A Shares) (a)
 
110,200
123,079
Tianqi Lithium Corp. (A Shares)
 
65,700
356,320
Tianshan Aluminum Group Co. Ltd.
 
206,800
215,131
Tianshui Huatian Technology Co. Ltd. (A Shares)
 
142,600
160,462
Tingyi (Cayman Islands) Holding Corp.
 
1,461,000
1,612,502
Tongcheng Travel Holdings Ltd.
 
919,600
2,420,276
TongFu Microelectronics Co. Ltd. (A Shares)
 
67,400
191,954
Tongkun Group Co. Ltd. (A Shares) (a)
 
107,200
203,380
Tongling Nonferrous Metals Group Co. Ltd. (A Shares)
 
561,700
311,457
Tongwei Co. Ltd. (A Shares)
 
200,400
598,943
Topchoice Medical Corp. (a)
 
14,200
118,906
Topsports International Holdings Ltd. (b)
 
1,379,000
957,681
TravelSky Technology Ltd. (H Shares)
 
691,000
897,631
Trina Solar Co. Ltd. (A Shares)
 
96,860
283,438
Trip.com Group Ltd. (a)(c)
 
407,143
19,830,860
Tsinghua Tongfang Co. Ltd. (A Shares) (a)
 
149,100
124,401
Tsingtao Brewery Co. Ltd.:
 
 
 
 (A Shares) (a)
 
24,000
270,887
 (H Shares)
 
474,000
3,415,835
Unigroup Guoxin Microelectronics Co. Ltd. (a)
 
37,839
303,122
Unisplendour Corp. Ltd. (A Shares) (a)
 
127,710
365,523
Universal Scientific Industrial Shanghai Co. Ltd. (A Shares)
 
82,700
168,318
Verisilicon Microelectronics Shanghai Co. Ltd. (A Shares) (a)
 
22,357
101,126
Vipshop Holdings Ltd. ADR
 
257,950
3,879,568
Walvax Biotechnology Co. Ltd. (A Shares)
 
71,400
144,615
Wanda Film Holding Co. Ltd. (A Shares) (a)
 
97,800
197,032
Wanhua Chemical Group Co. Ltd. (A Shares)
 
139,600
1,710,285
Want Want China Holdings Ltd.
 
3,510,418
2,002,173
Weichai Power Co. Ltd.:
 
 
 
 (A Shares)
 
267,500
641,769
 (H Shares)
 
1,479,000
3,022,134
Weihai Guangwei Composites Co. Ltd. (A Shares)
 
36,840
132,097
Wens Foodstuffs Group Co. Ltd. (A Shares)
 
295,600
776,712
Western Mining Co. Ltd. (A Shares)
 
105,600
291,190
Western Securities Co. Ltd. (A Shares)
 
197,900
201,629
Western Superconducting Technologies Co. Ltd. (A Shares)
 
28,905
157,811
Will Semiconductor Ltd.
 
52,730
736,837
Wingtech Technology Co. Ltd. (A Shares) (a)
 
55,600
240,367
Wintime Energy Group Co. Ltd. (A Shares) (a)
 
979,300
182,263
Wuchan Zhongda Group Co. Ltd.
 
229,200
149,053
Wuhan Guide Infrared Co. Ltd. (A Shares)
 
191,468
184,821
Wuliangye Yibin Co. Ltd. (A Shares)
 
172,600
3,569,568
WUS Printed Circuit Kunshan Co. Ltd. (A Shares)
 
85,060
386,851
WuXi AppTec Co. Ltd.
 
99,784
599,620
WuXi AppTec Co. Ltd. (H Shares) (b)
 
276,168
1,243,057
Wuxi Biologics (Cayman), Inc. (a)(b)
 
2,841,000
4,921,569
XCMG Construction Machinery Co. Ltd. (A Shares)
 
526,000
509,052
Xiamen C&D, Inc. (A Shares)
 
133,325
182,771
Xiamen Faratronic Co. Ltd. (A Shares)
 
10,100
137,129
Xiamen Tungsten Co. Ltd. (A Shares)
 
62,900
165,864
Xiaomi Corp. Class B (a)(b)
 
11,402,200
24,855,969
Xinjiang Daqo New Energy Co. Ltd. (A Shares) (a)
 
79,683
268,554
Xinyi Solar Holdings Ltd.
 
3,631,538
2,498,738
XPeng, Inc. Class A (a)
 
855,250
3,467,321
Yadea Group Holdings Ltd. (b)
 
908,000
1,746,694
Yangzhou Yangjie Electronic Technology Co. Ltd. (A Shares)
 
24,200
126,432
Yankuang Energy Group Co. Ltd.:
 
 
 
 (A Shares)
 
145,200
462,564
 (H Shares)
 
1,730,000
3,753,013
Yantai Jereh Oilfield Services (A Shares)
 
45,500
199,576
Yealink Network Technology Corp. Ltd.
 
56,470
274,733
Yifeng Pharmacy Chain Co. Ltd.
 
44,970
272,017
Yihai Kerry Arawana Holdings Co. Ltd. (A Shares)
 
72,100
311,777
Yintai Gold Co. Ltd. (A Shares)
 
123,380
313,005
Yonghui Superstores Co. Ltd. (A Shares) (a)
 
407,800
136,486
YongXing Special Materials Technology Co. Ltd. (A Shares)
 
23,970
156,526
Yonyou Network Technology Co. Ltd. (A Shares)
 
152,120
243,370
Youngor Fashion Co. Ltd. (A Shares)
 
204,387
220,276
YTO Express Group Co. Ltd. (A Shares)
 
153,200
335,146
Yuexiu Property Co. Ltd.
 
1,193,380
712,233
Yum China Holdings, Inc.
 
301,501
11,007,802
Yunda Holding Co. Ltd. (A Shares)
 
128,660
139,005
Yunnan Aluminium Co. Ltd. (A Shares)
 
154,200
304,284
Yunnan Baiyao Group Co. Ltd. (A Shares)
 
79,760
629,312
Yunnan Botanee Bio-Technology Group Co., Ltd. (A Shares)
 
18,800
147,913
Yunnan Chihong Zinc & Germanium Co. Ltd. (A Shares) (a)
 
224,400
176,909
Yunnan Energy New Material Co. Ltd.
 
43,500
249,377
Yunnan Tin Co. Ltd. (A Shares)
 
73,000
165,538
Yunnan Yuntianhua Co. Ltd. (Series A)
 
81,100
226,105
Yutong Bus Co. Ltd. (a)
 
98,500
347,761
Zai Lab Ltd. (a)(c)
 
698,720
1,123,060
Zangge Mining Co. Ltd. (Series A)
 
70,400
278,976
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares)
 
26,800
877,301
Zhaojin Mining Industry Co. Ltd. (H Shares)
 
1,118,000
1,800,462
Zhejiang Century Huatong Group Co. Ltd. (A Shares) (a)
 
331,310
213,521
Zhejiang China Commodities City Group Co. Ltd. (A Shares)
 
243,400
293,804
Zhejiang Chint Electric Co. Ltd. (A Shares)
 
95,800
272,514
Zhejiang Dahua Technology Co. Ltd. (A Shares)
 
147,100
363,219
Zhejiang Dingli Machinery Co. Ltd. (A Shares)
 
22,540
203,654
Zhejiang Expressway Co. Ltd. (H Shares)
 
1,173,359
767,178
Zhejiang Huahai Pharmaceutical Co. Ltd. (A Shares)
 
65,990
152,533
Zhejiang Huayou Cobalt Co. Ltd. (A Shares)
 
76,015
297,329
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. (A Shares)
 
58,000
270,667
Zhejiang Juhua Co. Ltd. (A Shares)
 
119,900
391,152
Zhejiang Leapmotor Technology Co. Ltd. (H Shares) (a)(b)(c)
 
372,500
1,279,927
Zhejiang Longsheng Group Co. Ltd. (A Shares)
 
143,600
181,093
Zhejiang NHU Co. Ltd. (A Shares)
 
136,236
360,461
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares)
 
83,100
250,864
Zhejiang Supor Cookware Co. Ltd.
 
23,900
193,906
Zhejiang Weiming Enviroment Protection Co. Ltd. (A Shares)
 
76,030
230,577
Zhejiang Weixing New Building Materials Co. Ltd. (A Shares)
 
70,800
171,406
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) (a)
 
496,200
426,292
Zheshang Securities Co. Ltd.
 
172,100
267,408
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(b)
 
526,300
885,196
Zhongji Innolight Co. Ltd. (A Shares)
 
35,700
899,892
Zhongjin Gold Co. Ltd. (A Shares)
 
214,700
386,533
Zhongsheng Group Holdings Ltd. Class H
 
619,100
1,129,106
Zhongtai Securities Co. Ltd. (A Shares)
 
309,300
283,604
Zhuzhou CRRC Times Electric Co. Ltd.:
 
 
 
 (A Shares)
 
32,236
211,814
 (H Shares)
 
377,027
1,351,271
Zijin Mining Group Co. Ltd.:
 
 
 
 (A Shares)
 
1,075,700
2,589,853
 (H Shares)
 
3,868,000
8,437,932
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares)
 
315,700
370,031
ZTE Corp.:
 
 
 
 (A Shares)
 
180,500
709,311
 (H Shares)
 
557,800
1,202,255
ZTO Express, Inc. sponsored ADR
 
314,891
6,609,562
TOTAL CHINA
 
 
1,414,686,555
Colombia - 0.1%
 
 
 
Bancolombia SA
 
189,152
1,629,706
Interconexion Electrica SA ESP
 
328,324
1,514,827
TOTAL COLOMBIA
 
 
3,144,533
Czech Republic - 0.1%
 
 
 
CEZ A/S (c)
 
119,663
4,417,070
Komercni Banka A/S
 
56,348
2,078,755
MONETA Money Bank A/S (b)
 
246,210
993,439
TOTAL CZECH REPUBLIC
 
 
7,489,264
Egypt - 0.1%
 
 
 
Commercial International Bank SAE
 
1,879,503
2,824,164
Eastern Co. SAE
 
767,482
352,865
EFG Holding SAE
 
703,541
217,605
TOTAL EGYPT
 
 
3,394,634
Greece - 0.5%
 
 
 
Alpha Bank SA (a)
 
1,656,191
2,814,723
Eurobank Ergasias Services and Holdings SA (a)
 
1,928,802
4,137,419
Ff Group (a)(d)
 
1,944
0
Hellenic Telecommunications Organization SA
 
139,393
2,124,296
Jumbo SA
 
85,728
2,669,647
Motor Oil (HELLAS) Corinth Refineries SA
 
49,251
1,427,548
Mytilineos SA
 
74,180
3,024,099
National Bank of Greece SA (a)
 
576,454
4,650,849
OPAP SA
 
137,177
2,285,231
Piraeus Financial Holdings SA (a)
 
788,467
3,158,560
Public Power Corp. of Greece (a)
 
155,748
1,868,248
TOTAL GREECE
 
 
28,160,620
Hong Kong - 0.1%
 
 
 
Orient Overseas International Ltd.
 
98,000
1,429,333
Sino Biopharmaceutical Ltd.
 
7,665,750
2,619,377
TOTAL HONG KONG
 
 
4,048,710
Hungary - 0.3%
 
 
 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
333,966
2,740,728
OTP Bank PLC
 
166,075
8,240,867
Richter Gedeon PLC
 
103,634
2,639,043
TOTAL HUNGARY
 
 
13,620,638
India - 17.5%
 
 
 
ABB India Ltd.
 
39,277
3,074,633
Adani Enterprises Ltd.
 
126,766
4,630,739
Adani Green Energy Ltd. (a)
 
234,852
5,045,216
Adani Ports & Special Economic Zone Ltd.
 
391,449
6,199,585
Adani Power Ltd. (a)
 
571,867
4,181,915
Ambuja Cements Ltd.
 
441,595
3,272,829
APL Apollo Tubes Ltd.
 
123,459
2,298,694
Apollo Hospitals Enterprise Ltd.
 
74,605
5,304,775
Ashok Leyland Ltd.
 
1,088,139
2,505,185
Asian Paints Ltd.
 
284,423
9,780,779
Astral Ltd.
 
99,559
2,519,046
AU Small Finance Bank Ltd. (b)
 
124,021
939,400
Aurobindo Pharma Ltd.
 
195,479
2,697,058
Avenue Supermarts Ltd. (a)(b)
 
120,576
6,651,490
Axis Bank Ltd.
 
1,691,921
23,609,278
Bajaj Auto Ltd.
 
49,509
5,283,969
Bajaj Finance Ltd.
 
206,159
17,096,479
Bajaj Finserv Ltd.
 
283,861
5,481,901
Bajaj Holdings & Investment Ltd.
 
19,802
1,923,019
Balkrishna Industries Ltd.
 
57,358
1,666,130
Bandhan Bank Ltd. (b)
 
585,093
1,316,839
Bank of Baroda
 
766,731
2,577,260
Berger Paints India Ltd.
 
216,018
1,315,487
Bharat Electronics Ltd.
 
2,709,332
7,574,148
Bharat Forge Ltd.
 
189,842
2,887,851
Bharat Heavy Electricals Ltd.
 
774,479
2,604,393
Bharat Petroleum Corp. Ltd.
 
562,698
4,093,353
Bharti Airtel Ltd.
 
1,667,907
26,393,270
Britannia Industries Ltd.
 
80,347
4,590,943
Cg Power & Industrial Soluti
 
452,957
2,998,373
Cholamandalam Investment and Finance Co. Ltd.
 
311,193
4,440,756
Cipla Ltd./India (a)
 
388,993
6,510,004
Coal India Ltd.
 
1,142,031
6,207,395
Colgate-Palmolive Ltd.
 
100,801
3,410,299
Container Corp. of India Ltd.
 
180,598
2,217,636
Cummins India Ltd.
 
102,745
4,021,730
Dabur India Ltd.
 
459,702
2,793,321
Divi's Laboratories Ltd.
 
88,574
4,239,917
DLF Ltd.
 
550,451
5,863,176
Dr. Reddy's Laboratories Ltd.
 
86,548
6,420,695
Eicher Motors Ltd.
 
101,496
5,586,134
GAIL India Ltd.
 
1,705,795
4,260,066
GMR Airports Infrastructure Ltd. (a)
 
1,789,144
1,819,202
Godrej Consumer Products Ltd.
 
303,257
4,424,614
Godrej Properties Ltd. (a)
 
92,756
2,930,852
Grasim Industries Ltd.
 
195,242
5,627,840
Havells India Ltd.
 
185,841
3,697,659
HCL Technologies Ltd.
 
702,536
11,458,609
HDFC Asset Management Co. Ltd. (b)
 
71,220
3,319,258
HDFC Bank Ltd.
 
2,082,525
37,809,127
HDFC Standard Life Insurance Co. Ltd. (b)
 
717,432
5,006,286
Hero Motocorp Ltd.
 
88,918
4,824,390
Hindalco Industries Ltd.
 
999,583
7,685,378
Hindustan Aeronautics Ltd.
 
148,733
7,016,952
Hindustan Petroleum Corp. Ltd.
 
420,551
2,493,883
Hindustan Unilever Ltd.
 
609,610
16,276,300
ICICI Bank Ltd.
 
3,848,358
53,011,246
ICICI Lombard General Insurance Co. Ltd. (b)
 
178,804
3,653,349
ICICI Prudential Life Insurance Co. Ltd. (b)
 
266,844
1,826,244
IDFC Bank Ltd. (a)
 
2,566,979
2,518,622
Indian Oil Corp. Ltd.
 
2,093,356
4,226,087
Indian Railway Catering & Tourism Corp. Ltd.
 
177,994
2,209,578
Indraprastha Gas Ltd.
 
233,502
1,309,662
IndusInd Bank Ltd.
 
213,352
3,867,066
Info Edge India Ltd.
 
52,756
3,814,425
Infosys Ltd.
 
2,461,479
41,549,073
InterGlobe Aviation Ltd. (a)(b)
 
128,790
6,139,470
ITC Ltd.
 
2,219,801
11,571,274
Jindal Steel & Power Ltd.
 
264,645
2,938,321
Jio Financial Services Ltd.
 
2,119,246
9,540,566
JSW Steel Ltd.
 
453,193
4,773,459
Jubilant Foodworks Ltd.
 
293,444
1,625,241
Kotak Mahindra Bank Ltd.
 
810,444
15,746,818
Larsen & Toubro Ltd.
 
499,286
21,456,164
Ltimindtree Ltd. (b)
 
65,885
3,699,438
Lupin Ltd.
 
168,726
3,321,276
Macrotech Developers Ltd. (b)
 
178,733
2,646,726
Mahindra & Mahindra Ltd.
 
691,377
17,828,234
Marico Ltd.
 
383,496
2,379,204
Maruti Suzuki India Ltd.
 
104,880
16,086,040
Max Healthcare Institute Ltd.
 
576,315
5,789,712
Mphasis BFL Ltd.
 
56,003
1,546,298
MRF Ltd.
 
1,729
2,751,379
Muthoot Finance Ltd.
 
89,258
1,835,482
Nestle India Ltd.
 
250,149
7,506,714
NMDC Ltd.
 
760,340
2,306,727
NTPC Ltd.
 
3,234,477
14,052,831
Oil & Natural Gas Corp. Ltd.
 
2,331,189
7,867,287
One97 Communications Ltd. (a)
 
188,352
839,264
Page Industries Ltd.
 
4,548
1,892,723
Persistent Systems Ltd.
 
74,150
2,982,058
Petronet LNG Ltd.
 
555,720
2,062,136
PI Industries Ltd.
 
61,850
2,702,390
Pidilite Industries Ltd.
 
113,105
4,124,251
Polycab India Ltd.
 
33,403
2,266,103
Power Finance Corp. Ltd.
 
1,100,868
5,801,302
Power Grid Corp. of India Ltd.
 
3,446,919
12,428,734
Punjab National Bank
 
1,632,541
2,752,513
REC Ltd.
 
976,011
5,910,697
Reliance Industries Ltd.
 
2,256,903
79,204,382
Samvardhana Motherson International Ltd.
 
1,758,400
2,753,063
SBI Cards & Payment Services Ltd.
 
211,257
1,839,224
SBI Life Insurance Co. Ltd. (b)
 
333,961
5,743,965
Shree Cement Ltd.
 
6,687
1,957,190
Shriram Finance Ltd.
 
208,846
6,370,102
Siemens Ltd.
 
65,996
4,609,733
Sona Blw Precision Forgings Ltd. (b)
 
304,345
2,274,307
SRF Ltd.
 
109,853
3,440,026
State Bank of India
 
1,323,136
13,066,160
Sun Pharmaceutical Industries Ltd.
 
711,402
12,776,823
Supreme Industries Ltd.
 
47,086
2,850,943
Suzlon Energy Ltd. (a)
 
6,542,957
3,241,351
Tata Communications Ltd.
 
84,487
1,748,139
Tata Consultancy Services Ltd.
 
670,550
30,595,276
Tata Consumer Products Ltd.
 
423,765
5,610,012
Tata Elxsi Ltd.
 
25,391
2,143,005
Tata Motors Ltd.
 
1,231,654
14,848,365
Tata Motors Ltd. Class A
 
339,224
2,766,219
Tata Power Co. Ltd./The
 
1,065,845
5,718,506
Tata Steel Ltd.
 
5,468,995
10,777,327
Tech Mahindra Ltd.
 
398,076
5,994,795
The Indian Hotels Co. Ltd.
 
631,586
4,350,967
Titan Co. Ltd.
 
263,271
11,293,040
Torrent Pharmaceuticals Ltd.
 
75,251
2,376,453
Trent Ltd.
 
134,389
7,091,694
Tube Investments of India Ltd.
 
78,852
3,536,186
Tvs Motor Co. Ltd.
 
176,118
4,335,218
Ultratech Cement Ltd.
 
85,609
10,207,203
Union Bank of India Ltd.
 
1,099,075
2,025,339
United Spirits Ltd.
 
215,680
3,033,256
UPL Ltd.
 
333,819
2,025,378
Varun Beverages Ltd.
 
337,082
5,961,220
Vedanta Ltd.
 
688,824
3,286,589
Wipro Ltd.
 
968,319
5,331,135
Yes Bank Ltd. (a)
 
9,594,422
2,999,950
Zomato Ltd. (a)
 
4,520,241
10,429,421
TOTAL INDIA
 
 
964,643,662
Indonesia - 1.6%
 
 
 
Amman Mineral Internasional PT
 
4,839,000
2,881,432
PT Adaro Energy Indonesia Tbk
 
10,666,400
1,772,732
PT Aneka Tambang Tbk
 
6,236,400
626,883
PT Astra International Tbk
 
15,004,059
4,734,613
PT Bank Central Asia Tbk
 
41,124,550
24,727,559
PT Bank Mandiri (Persero) Tbk
 
27,676,196
11,698,096
PT Bank Negara Indonesia (Persero) Tbk
 
11,060,600
3,558,605
PT Bank Rakyat Indonesia (Persero) Tbk
 
50,558,727
15,304,307
PT Barito Pacific Tbk
 
20,850,131
1,302,979
PT Charoen Pokphand Indonesia Tbk
 
5,469,700
1,664,136
PT GoTo Gojek Tokopedia Tbk (a)
 
623,410,200
2,397,807
PT Indah Kiat Pulp & Paper Tbk
 
1,825,100
1,050,449
PT Indofood CBP Sukses Makmur Tbk
 
1,729,200
1,155,829
PT Indofood Sukses Makmur Tbk
 
3,251,800
1,248,705
PT Kalbe Farma Tbk
 
15,639,200
1,388,253
PT Merdeka Copper Gold Tbk (a)
 
7,151,586
1,151,807
PT Sarana Menara Nusantara Tbk
 
15,124,000
747,236
PT Semen Indonesia (Persero) Tbk
 
2,501,232
717,469
PT Sumber Alfaria Trijaya Tbk
 
13,853,100
2,491,465
PT Telkom Indonesia Persero Tbk
 
36,714,265
7,117,372
PT Unilever Indonesia Tbk
 
5,658,895
911,354
PT United Tractors Tbk
 
1,105,300
1,684,583
TOTAL INDONESIA
 
 
90,333,671
Korea (South) - 10.9%
 
 
 
AMOREPACIFIC Corp.
 
21,682
2,635,319
Celltrion Pharm, Inc.
 
13,872
954,923
Celltrion, Inc.
 
113,115
15,316,255
CJ CheilJedang Corp.
 
6,135
1,482,881
Cosmo AM&T Co. Ltd. (a)
 
17,934
1,931,422
Coway Co. Ltd.
 
41,031
1,639,364
Db Insurance Co. Ltd.
 
34,115
2,386,294
Doosan Bobcat, Inc.
 
40,890
1,523,983
Doosan Heavy Industries & Construction Co. Ltd. (a)
 
332,438
4,002,747
Ecopro BM Co. Ltd.
 
36,252
6,145,034
Ecopro Co. Ltd.
 
74,025
5,579,838
Ecopro Materials Co. Ltd.
 
10,228
844,810
GS Holdings Corp.
 
34,432
1,110,130
Hana Financial Group, Inc.
 
216,716
9,114,801
Hanjin Kal Corp.
 
19,798
847,316
Hankook Tire Co. Ltd.
 
55,105
2,331,687
Hanmi Pharm Co. Ltd.
 
5,224
1,186,712
Hanmi Semiconductor Co. Ltd.
 
32,474
3,083,735
Hanon Systems
 
138,498
553,113
Hanwha Aerospace Co. Ltd.
 
26,272
3,979,457
Hanwha Ocean Co. Ltd. (a)
 
56,782
1,303,827
Hanwha Solutions Corp.
 
82,838
1,503,448
HD Hyundai Co. Ltd.
 
32,203
1,554,678
HD Hyundai Heavy Industries Co. Ltd. (a)
 
16,465
1,623,833
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (a)
 
31,489
2,964,757
HLB, Inc.
 
86,965
6,929,057
HMM Co. Ltd.
 
178,802
2,035,691
HYBE Co. Ltd.
 
15,439
2,233,256
Hyundai Engineering & Construction Co. Ltd.
 
57,763
1,467,404
Hyundai Glovis Co. Ltd.
 
13,899
1,814,427
Hyundai Mobis
 
45,129
7,362,404
Hyundai Motor Co. Ltd.
 
101,916
18,280,916
Hyundai Steel Co.
 
64,298
1,488,879
Industrial Bank of Korea
 
206,811
2,073,360
Kakao Corp.
 
230,849
7,994,683
Kakao Pay Corp. (a)
 
19,918
500,558
KakaoBank Corp.
 
123,737
2,213,113
Kangwon Land, Inc.
 
71,288
785,538
KB Financial Group, Inc.
 
284,164
15,369,039
Kia Corp.
 
193,726
16,367,026
Korea Aerospace Industries Ltd.
 
54,199
2,012,454
Korea Electric Power Corp. (a)
 
190,293
2,896,929
Korea Investment Holdings Co. Ltd.
 
30,971
1,492,748
Korea Zinc Co. Ltd.
 
6,201
2,059,859
Korean Air Lines Co. Ltd.
 
136,447
2,051,884
KRAFTON, Inc. (a)
 
21,513
3,692,167
KT Corp.
 
47,767
1,190,925
KT&G Corp.
 
74,401
4,780,666
Kum Yang Co. Ltd. (a)
 
25,820
1,727,620
Kumho Petro Chemical Co. Ltd.
 
11,638
1,154,304
L&F Co. Ltd.
 
18,811
2,194,351
LG Chemical Ltd.
 
36,633
10,496,965
LG Corp.
 
69,960
3,980,599
LG Display Co. Ltd. (a)
 
269,095
2,031,092
LG Electronics, Inc.
 
78,848
5,236,743
LG Energy Solution (a)
 
34,695
9,625,785
LG H & H Co. Ltd.
 
6,451
1,938,297
LG Innotek Co. Ltd.
 
10,541
1,670,831
LG Uplus Corp.
 
158,348
1,121,519
Lotte Chemical Corp.
 
14,272
1,099,816
Meritz Financial Holdings Co.
 
75,376
4,297,744
Mirae Asset Securities Co. Ltd.
 
179,440
975,226
NAVER Corp.
 
96,318
12,668,736
NCSOFT Corp.
 
10,580
1,333,045
Netmarble Corp. (a)(b)
 
19,111
763,055
NH Investment & Securities Co. Ltd.
 
110,569
991,076
Orion Corp./Republic of Korea
 
17,585
1,173,561
POSCO
 
53,289
15,340,451
POSCO Chemtech Co. Ltd.
 
22,970
4,608,114
POSCO ICT Co. Ltd.
 
39,453
1,143,319
Posco International Corp.
 
39,133
1,287,054
S-Oil Corp.
 
33,373
1,737,513
Samsung Biologics Co. Ltd. (a)(b)
 
13,192
7,393,907
Samsung C&T Corp.
 
61,909
6,657,162
Samsung E&A Co. Ltd. (a)
 
116,259
2,198,022
Samsung Electro-Mechanics Co. Ltd.
 
41,554
4,622,103
Samsung Electronics Co. Ltd.
 
3,540,633
196,260,918
Samsung Fire & Marine Insurance Co. Ltd.
 
22,827
5,094,966
Samsung Heavy Industries Co. Ltd. (a)
 
489,423
3,306,779
Samsung Life Insurance Co. Ltd.
 
59,298
3,726,078
Samsung SDI Co. Ltd.
 
40,786
12,586,674
Samsung SDS Co. Ltd.
 
28,687
3,286,318
Samsung Securities Co. Ltd.
 
46,328
1,263,796
Shinhan Financial Group Co. Ltd.
 
323,097
10,824,799
SK Biopharmaceuticals Co. Ltd. (a)
 
23,224
1,456,932
SK Bioscience Co. Ltd. (a)
 
19,936
837,315
SK Hynix, Inc.
 
404,755
49,809,236
SK IE Technology Co. Ltd. (a)(b)
 
21,149
892,625
SK Innovation Co., Ltd. (a)
 
44,765
3,541,330
SK Square Co. Ltd. (a)
 
72,113
3,950,974
SK Telecom Co. Ltd.
 
40,511
1,493,976
SK, Inc.
 
27,130
3,223,829
SKC Co. Ltd.
 
14,031
1,105,871
Woori Financial Group, Inc.
 
445,897
4,556,641
Yuhan Corp.
 
41,757
2,166,011
TOTAL KOREA (SOUTH)
 
 
601,546,425
Kuwait - 0.7%
 
 
 
Agility Global PLC (d)(e)
 
2,379,416
96,473
Boubyan Bank KSC
 
1,089,498
2,081,461
Gulf Bank
 
1,408,898
1,179,032
Kuwait Finance House KSCP
 
6,975,267
16,289,952
Mabanee Co. SAKC
 
516,782
1,320,870
Mobile Telecommunication Co.
 
1,442,731
2,283,661
National Bank of Kuwait
 
5,863,458
16,451,155
TOTAL KUWAIT
 
 
39,702,604
Luxembourg - 0.0%
 
 
 
Reinet Investments SCA
 
101,651
2,374,576
Malaysia - 1.3%
 
 
 
AMMB Holdings Bhd
 
1,721,000
1,512,797
Axiata Group Bhd
 
2,040,298
1,208,122
CelcomDigi Bhd
 
2,608,000
2,263,796
CIMB Group Holdings Bhd
 
4,744,431
6,556,945
Gamuda Bhd
 
1,431,656
1,591,333
Genting Bhd
 
1,579,600
1,493,009
Genting Malaysia Bhd
 
2,198,840
1,212,936
Hong Leong Bank Bhd
 
482,500
1,948,548
IHH Healthcare Bhd
 
1,631,387
2,146,478
Inari Amertron Bhd
 
2,085,300
1,344,485
IOI Corp. Bhd
 
1,863,500
1,586,232
Kuala Lumpur Kepong Bhd
 
366,353
1,769,595
Malayan Banking Bhd
 
4,023,497
8,198,541
Malaysia Airports Holdings Bhd
 
679,180
1,421,460
Maxis Bhd
 
1,740,000
1,336,472
MISC Bhd
 
992,600
1,653,941
MR DIY Group M Sdn Bhd (b)
 
2,448,750
800,405
Nestle (Malaysia) Bhd
 
52,200
1,389,651
Petronas Chemicals Group Bhd
 
2,076,400
2,946,551
Petronas Dagangan Bhd
 
220,826
996,037
Petronas Gas Bhd
 
586,800
2,211,444
PPB Group Bhd
 
474,540
1,563,311
Press Metal Aluminium Holdings
 
2,751,000
3,092,355
Public Bank Bhd
 
10,793,985
9,309,899
QL Resources Bhd
 
811,500
1,089,782
RHB Bank Bhd
 
1,112,478
1,280,578
Sime Darby Bhd
 
2,021,549
1,183,502
Sime Darby Plantation Bhd
 
1,538,796
1,437,018
Telekom Malaysia Bhd
 
852,847
1,105,281
Tenaga Nasional Bhd
 
1,929,872
4,832,478
YTL Corp. Bhd
 
2,451,900
1,585,267
YTL Power International Bhd
 
1,814,900
1,739,850
TOTAL MALAYSIA
 
 
73,808,099
Mexico - 2.6%
 
 
 
Alfa SA de CV Series A
 
2,322,600
1,708,318
America Movil S.A.B. de CV Series L
 
13,887,747
13,222,372
Arca Continental S.A.B. de CV
 
382,700
3,733,451
Banco del Bajio SA (b)
 
573,400
2,114,090
CEMEX S.A.B. de CV unit (a)
 
11,221,786
8,889,257
Coca-Cola FEMSA S.A.B. de CV unit
 
389,259
3,861,744
Fibra Uno Administracion SA de CV
 
2,145,883
3,080,266
Fomento Economico Mexicano S.A.B. de CV unit
 
1,441,691
16,866,120
Gruma S.A.B. de CV Series B
 
137,095
2,692,642
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B
 
290,522
5,291,577
Grupo Aeroportuario del Sureste S.A.B. de CV Series B
 
133,495
4,585,621
Grupo Aeroportuario Norte S.A.B. de CV
 
212,000
2,347,120
Grupo Bimbo S.A.B. de CV Series A
 
980,470
4,108,293
Grupo Carso SA de CV Series A1
 
418,400
3,290,634
Grupo Financiero Banorte S.A.B. de CV Series O
 
1,923,781
19,040,443
Grupo Financiero Inbursa S.A.B. de CV Series O (a)
 
1,359,000
3,765,844
Grupo Mexico SA de CV Series B
 
2,308,654
14,265,051
Industrias Penoles SA de CV (a)
 
147,320
2,137,981
Kimberly-Clark de Mexico SA de CV Series A
 
1,127,327
2,346,685
Operadora de Sites Mexicanos, SA de CV (c)
 
946,200
1,064,912
Orbia Advance Corp. S.A.B. de CV
 
745,120
1,223,979
Prologis Property Mexico SA (c)
 
579,428
2,285,140
Promotora y Operadora de Infraestructura S.A.B. de CV
 
140,850
1,414,934
Southern Copper Corp.
 
63,053
7,356,394
Wal-Mart de Mexico SA de CV Series V
 
3,883,356
14,489,974
TOTAL MEXICO
 
 
145,182,842
Peru - 0.2%
 
 
 
Compania de Minas Buenaventura SAA sponsored ADR
 
150,473
2,603,183
Credicorp Ltd. (United States)
 
50,116
8,299,711
TOTAL PERU
 
 
10,902,894
Philippines - 0.6%
 
 
 
Aboitiz Equity Ventures, Inc.
 
1,250,010
911,203
Ayala Corp.
 
206,756
2,199,587
Ayala Land, Inc.
 
4,984,313
2,472,904
Bank of the Philippine Islands (BPI)
 
1,364,728
2,990,485
BDO Unibank, Inc.
 
1,757,755
4,477,049
International Container Terminal Services, Inc.
 
753,050
4,310,622
JG Summit Holdings, Inc.
 
1,951,413
1,140,334
Jollibee Food Corp.
 
332,063
1,351,323
Manila Electric Co.
 
208,880
1,324,673
Metropolitan Bank & Trust Co.
 
1,333,582
1,614,985
PLDT, Inc.
 
56,010
1,305,476
SM Investments Corp.
 
181,210
2,977,704
SM Prime Holdings, Inc.
 
7,493,100
3,623,750
Universal Robina Corp.
 
645,618
1,145,093
TOTAL PHILIPPINES
 
 
31,845,188
Poland - 0.9%
 
 
 
Allegro.eu SA (a)(b)
 
431,136
3,615,297
Bank Polska Kasa Opieki SA
 
136,196
5,674,274
Budimex SA
 
9,464
1,604,008
CD Projekt SA
 
48,146
1,406,494
Dino Polska SA (a)(b)
 
36,337
3,492,702
KGHM Polska Miedz SA (Bearer)
 
103,800
3,599,120
LPP SA
 
825
3,199,204
mBank SA (a)
 
11,014
1,862,095
Orlen SA
 
430,275
7,047,498
PGE Polska Grupa Energetyczna SA (a)
 
665,273
998,467
Powszechna Kasa Oszczednosci Bank SA
 
648,641
9,706,269
Powszechny Zaklad Ubezpieczen SA
 
448,089
5,664,630
Santander Bank Polska SA
 
26,515
3,665,716
TOTAL POLAND
 
 
51,535,774
Qatar - 0.8%
 
 
 
Barwa Real Estate Co.
 
1,583,875
1,222,381
Dukhan Bank
 
1,358,051
1,436,379
Industries Qatar QSC
 
1,121,366
3,772,791
Masraf al Rayan
 
4,136,624
2,853,941
Mesaieed Petrochemical Holding Co.
 
4,191,523
2,209,155
Ooredoo QSC
 
593,465
1,628,321
Qatar Electricity & Water Co.
 
326,099
1,365,836
Qatar Fuel Co.
 
441,961
1,755,220
Qatar Gas Transport Co. Ltd. (Nakilat)
 
1,847,688
2,029,361
Qatar International Islamic Bank QSC
 
729,512
2,015,625
Qatar Islamic Bank
 
1,313,884
6,603,702
Qatar National Bank SAQ
 
3,423,832
13,042,722
The Commercial Bank of Qatar
 
2,400,610
2,738,185
TOTAL QATAR
 
 
42,673,619
Romania - 0.1%
 
 
 
NEPI Rockcastle PLC
 
416,200
2,797,422
Russia - 0.1%
 
 
 
Alrosa Co. Ltd. (a)(d)
 
1,399,461
231,821
Gazprom OAO (a)(d)
 
6,384,126
665,167
Inter Rao Ues JSC (a)(d)
 
20,040,158
110,012
LUKOIL PJSC (a)(d)
 
224,329
69,137
MMC Norilsk Nickel PJSC (a)(d)
 
3,422,100
226,612
Moscow Exchange MICEX-RTS OAO (a)(d)
 
808,717
154,791
Novatek PJSC GDR (Reg. S) (a)(d)
 
49,200
2,400,960
Novolipetsk Steel OJSC (a)(d)
 
812,466
7,767
Ozon Holdings PLC ADR (a)(d)
 
28,218
58,864
PhosAgro PJSC:
 
 
 
 GDR (Reg. S) (a)(d)
 
73,324
1,504
 sponsored GDR (Reg. S) (a)(d)
 
472
10
Polyus PJSC (a)(d)
 
18,462
43,229
Rosneft Oil Co. OJSC (a)(d)
 
635,841
105,880
Sberbank of Russia (a)(d)
 
5,823,145
35,649
Severstal PAO (a)(d)
 
113,908
2,532
Surgutneftegas OJSC (a)(d)
 
4,033,562
49,145
Tatneft PAO (a)(d)
 
770,244
95,391
TKS Holding MKPAO JSC (a)(d)
 
7,325
9,287
United Co. RUSAL International PJSC (a)(d)
 
1,646,280
197,554
VK Co. Ltd. (a)(d)
 
9,348
2,765
VK Co. Ltd. GDR (Reg. S) (a)(d)
 
32,306
0
VTB Bank OJSC (a)(d)
 
1,801,039,946
68,515
Yandex NV Class A (a)(d)
 
148,436
551,810
TOTAL RUSSIA
 
 
5,088,402
Saudi Arabia - 4.0%
 
 
 
ACWA Power Co.
 
70,598
7,529,249
Ades Holding Co.
 
251,133
1,337,823
Advanced Petrochemicals Co.
 
94,364
1,074,320
Al Rajhi Bank
 
1,453,022
30,954,103
Alinma Bank
 
908,176
8,075,420
Almarai Co. Ltd.
 
185,315
2,806,456
Arab National Bank
 
500,359
4,122,299
Arabian Internet and Communications Services Co. Ltd.
 
17,801
1,651,669
Bank Al-Jazira
 
372,381
1,608,429
Bank Albilad
 
454,110
4,322,436
Banque Saudi Fransi
 
437,778
4,277,866
Bupa Arabia for Cooperative Insurance Co.
 
61,160
3,933,182
Dallah Healthcare Co.
 
25,334
1,101,008
Dar Al Arkan Real Estate Development Co. (a)
 
392,171
1,390,677
Dr Sulaiman Al Habib Medical Services Group Co.
 
64,858
5,371,113
Elm Co.
 
17,795
4,339,388
Etihad Etisalat Co.
 
279,650
3,877,193
Jarir Marketing Co.
 
435,631
1,572,667
Luberef
 
37,533
1,517,091
Mobile Telecommunications Co. Saudi Arabia
 
326,049
1,050,144
Mouwasat Medical Services Co.
 
72,641
2,603,037
Nahdi Medical Co.
 
28,884
1,064,301
Power & Water Utility Co. for Jubail & Yanbu
 
55,568
963,025
Riyad Bank
 
1,089,765
8,048,443
Sabic Agriculture-Nutrients Co.
 
172,946
5,339,718
Sahara International Petrochemical Co.
 
266,390
2,436,191
Saudi Arabian Mining Co.
 
957,887
12,923,021
Saudi Arabian Oil Co. (b)
 
1,973,337
15,836,784
Saudi Awwal Bank
 
746,435
8,119,914
Saudi Basic Industries Corp.
 
667,178
15,031,339
Saudi Electricity Co.
 
617,621
3,066,204
Saudi Industrial Investment Group
 
274,150
1,697,265
Saudi Investment Bank/The
 
363,239
1,634,798
Saudi Kayan Petrochemical Co. (a)
 
544,646
1,360,671
Saudi Research & Marketing Group (a)
 
26,687
1,713,387
Saudi Tadawul Group Holding Co.
 
35,585
2,512,373
Saudi Telecom Co.
 
1,482,590
14,882,822
The Co. for Cooperative Insurance
 
54,484
2,164,485
The Saudi National Bank
 
2,179,506
21,849,684
The Savola Group
 
193,950
2,611,442
Yanbu National Petrochemical Co.
 
204,303
2,110,793
TOTAL SAUDI ARABIA
 
 
219,882,230
South Africa - 2.5%
 
 
 
Absa Group Ltd.
 
629,847
4,856,798
Anglo American Platinum Ltd. (c)
 
49,174
1,712,974
Aspen Pharmacare Holdings Ltd.
 
281,164
3,349,484
Bid Corp. Ltd.
 
248,617
5,666,698
Bidvest Group Ltd./The
 
214,391
2,795,883
Capitec Bank Holdings Ltd.
 
64,555
7,989,515
Clicks Group Ltd.
 
176,417
2,744,836
Discovery Ltd.
 
401,036
2,554,869
Exxaro Resources Ltd.
 
181,221
1,736,294
FirstRand Ltd.
 
3,742,739
12,920,504
Gold Fields Ltd.
 
662,419
10,716,396
Harmony Gold Mining Co. Ltd.
 
413,720
3,581,254
Impala Platinum Holdings Ltd.
 
670,446
2,984,527
Kumba Iron Ore Ltd. (c)
 
47,774
1,171,091
MTN Group Ltd.
 
1,257,128
6,025,173
Naspers Ltd. Class N
 
135,795
25,988,125
Nedbank Group Ltd.
 
325,651
3,959,646
Northam Platinum Holdings Ltd.
 
264,422
1,751,975
Old Mutual Ltd.
 
3,552,021
2,086,982
OUTsurance Group Ltd.
 
625,227
1,344,123
Pepkor Holdings Ltd. (b)
 
1,494,730
1,410,050
Remgro Ltd.
 
372,780
2,428,952
Sanlam Ltd.
 
1,306,403
4,725,759
Sasol Ltd.
 
426,124
2,993,655
Shoprite Holdings Ltd.
 
372,522
4,970,306
Sibanye-Stillwater Ltd.
 
2,098,504
2,395,128
Standard Bank Group Ltd.
 
993,870
9,333,199
Vodacom Group Ltd.
 
461,947
2,210,583
Woolworths Holdings Ltd.
 
696,045
2,211,113
TOTAL SOUTH AFRICA
 
 
138,615,892
Taiwan - 16.4%
 
 
 
Accton Technology Corp.
 
374,000
5,230,201
Acer, Inc.
 
2,147,000
2,948,920
Advantech Co. Ltd.
 
349,946
4,063,132
Alchip Technologies Ltd.
 
55,000
5,178,104
ASE Technology Holding Co. Ltd.
 
2,273,592
10,209,789
Asia Cement Corp.
 
1,707,000
2,285,370
ASUSTeK Computer, Inc.
 
523,502
6,852,347
AUO Corp.
 
4,854,800
2,709,783
Catcher Technology Co. Ltd.
 
429,095
2,861,122
Cathay Financial Holding Co. Ltd.
 
7,067,834
10,909,944
Chailease Holding Co. Ltd.
 
1,136,879
5,985,537
Chang Hwa Commercial Bank
 
4,022,907
2,245,492
Cheng Shin Rubber Industry Co. Ltd.
 
1,442,000
2,078,158
China Airlines Ltd.
 
2,152,000
1,375,688
China Development Financial Ho (a)
 
11,853,624
4,946,525
China Steel Corp.
 
8,746,289
6,651,267
Chunghwa Telecom Co. Ltd.
 
2,817,129
10,688,406
Compal Electronics, Inc.
 
3,104,000
3,379,697
CTBC Financial Holding Co. Ltd.
 
13,091,778
13,639,844
Delta Electronics, Inc.
 
1,444,717
14,123,384
E Ink Holdings, Inc.
 
635,000
4,052,478
E.SUN Financial Holdings Co. Ltd.
 
10,449,988
8,765,536
ECLAT Textile Co. Ltd.
 
132,129
2,075,240
eMemory Technology, Inc.
 
47,000
3,153,373
EVA Airways Corp.
 
2,001,000
2,171,694
Evergreen Marine Corp. (Taiwan)
 
753,494
4,370,433
Far Eastern New Century Corp.
 
2,181,000
2,171,772
Far EasTone Telecommunications Co. Ltd.
 
1,308,348
3,239,473
Feng Tay Enterprise Co. Ltd.
 
402,596
1,998,198
First Financial Holding Co. Ltd.
 
8,076,518
6,758,690
Formosa Chemicals & Fibre Corp.
 
2,606,149
4,421,645
Formosa Petrochemical Corp.
 
847,347
1,869,174
Formosa Plastics Corp.
 
2,831,085
5,937,355
Fubon Financial Holding Co. Ltd.
 
5,788,748
12,224,430
Gigabyte Technology Co. Ltd.
 
377,000
3,393,892
Global Unichip Corp.
 
69,000
2,860,581
GlobalWafers Co. Ltd.
 
162,000
2,569,466
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
9,250,465
43,957,157
Hotai Motor Co. Ltd.
 
226,960
4,299,197
Hua Nan Financial Holdings Co. Ltd.
 
6,572,379
4,752,718
Innolux Corp.
 
6,394,961
2,776,228
Inventec Corp.
 
1,994,000
3,193,123
Largan Precision Co. Ltd.
 
74,451
4,953,928
Lite-On Technology Corp.
 
1,483,044
4,480,868
MediaTek, Inc.
 
1,126,615
33,908,376
Mega Financial Holding Co. Ltd.
 
8,540,241
10,446,705
Micro-Star International Co. Ltd.
 
532,000
2,583,959
Nan Ya Plastics Corp.
 
3,527,358
6,114,031
Nan Ya Printed Circuit Board Corp.
 
168,000
954,884
Nanya Technology Corp.
 
919,000
1,851,651
Nien Made Enterprise Co. Ltd.
 
130,000
1,516,525
Novatek Microelectronics Corp.
 
428,000
8,072,775
Pegatron Corp.
 
1,482,000
4,412,094
PharmaEssentia Corp. (a)
 
176,000
1,579,685
Pou Chen Corp.
 
1,637,391
1,809,157
Powerchip Semiconductor Manufacturing Corp.
 
2,264,933
1,579,642
President Chain Store Corp.
 
423,000
3,550,948
Quanta Computer, Inc.
 
2,004,000
15,699,914
Realtek Semiconductor Corp.
 
361,000
5,684,707
Ruentex Development Co. Ltd.
 
1,158,296
1,360,413
Shin Kong Financial Holding Co. Ltd. (a)
 
9,755,732
2,573,452
Sinopac Financial Holdings Co.
 
7,798,026
5,236,915
Synnex Technology International Corp.
 
928,700
2,265,941
Taishin Financial Holdings Co. Ltd.
 
8,323,474
4,574,508
Taiwan Business Bank
 
4,569,424
2,368,176
Taiwan Cement Corp.
 
5,036,354
4,941,677
Taiwan Cooperative Financial Holding Co. Ltd.
 
7,632,991
6,123,180
Taiwan High Speed Rail Corp.
 
1,456,000
1,332,515
Taiwan Mobile Co. Ltd.
 
1,351,000
4,304,198
Taiwan Semiconductor Manufacturing Co. Ltd.
 
18,262,740
436,501,327
The Shanghai Commercial & Savings Bank Ltd.
 
2,852,439
4,055,257
Uni-President Enterprises Corp.
 
3,579,332
8,380,779
Unimicron Technology Corp.
 
1,018,000
5,619,557
United Microelectronics Corp.
 
8,360,000
12,821,658
Vanguard International Semiconductor Corp.
 
668,000
1,747,379
Voltronic Power Technology Corp.
 
49,000
2,314,422
Walsin Lihwa Corp.
 
2,091,779
2,358,596
Wan Hai Lines Ltd.
 
520,415
806,906
Winbond Electronics Corp.
 
2,323,673
1,839,539
Wistron Corp.
 
1,935,000
6,613,778
Wiwynn Corp.
 
71,629
5,086,561
WPG Holding Co. Ltd.
 
1,182,880
3,189,073
Yageo Corp.
 
251,114
4,781,358
Yang Ming Marine Transport Corp.
 
1,295,000
2,066,747
Yuanta Financial Holding Co. Ltd.
 
7,524,343
7,045,559
Zhen Ding Technology Holding Ltd.
 
493,000
1,741,906
TOTAL TAIWAN
 
 
900,625,789
Thailand - 1.4%
 
 
 
Advanced Information Service PCL NVDR
 
884,200
4,685,154
Airports of Thailand PCL NVDR
 
3,184,100
5,575,324
Asset World Corp. PCL NVDR
 
5,977,700
703,773
Bangkok Dusit Medical Services PCL:
 
 
 
 (For. Reg.)
 
18,200
14,174
 NVDR
 
8,238,600
6,416,061
Bangkok Expressway and Metro PCL NVDR
 
5,701,300
1,269,303
BTS Group Holdings PCL NVDR
 
5,891,900
1,002,199
Bumrungrad Hospital PCL NVDR
 
420,000
2,764,645
Central Pattana PCL:
 
 
 
 (For. Reg.)
 
381,900
649,530
 NVDR
 
1,120,200
1,905,220
Central Retail Corp. PCL:
 
 
 
 (For. Reg.)
 
174,024
160,532
 NVDR
 
1,141,300
1,052,816
Charoen Pokphand Foods PCL NVDR
 
2,819,300
1,499,611
CP ALL PCL NVDR
 
4,336,200
6,683,619
CP Axtra PCL NVDR
 
1,572,000
1,367,540
Delta Electronics PCL NVDR
 
2,200,100
4,092,500
Energy Absolute PCL NVDR
 
1,249,500
1,024,065
Global Power Synergy Public Co. Ltd. NVDR
 
526,000
687,747
Gulf Energy Development PCL NVDR
 
2,189,500
2,358,725
Home Product Center PCL NVDR
 
4,411,100
1,227,989
Indorama Ventures PCL NVDR
 
1,256,200
804,071
Intouch Holdings PCL NVDR
 
719,600
1,292,619
Kasikornbank PCL NVDR
 
418,000
1,463,356
Krung Thai Bank PCL:
 
 
 
 (For. Reg.)
 
553,800
249,788
 NVDR
 
2,056,500
927,572
Krungthai Card PCL:
 
 
 
 (For. Reg.)
 
142,000
163,285
 NVDR
 
631,200
725,814
Land & House PCL NVDR
 
6,248,000
1,250,687
Minor International PCL:
 
 
 
 (For. Reg.)
 
110,326
97,550
 NVDR
 
2,387,400
2,110,926
Muangthai Leasing PCL NVDR
 
553,700
672,018
PTT Exploration and Production PCL NVDR
 
1,032,100
4,305,961
PTT Global Chemical PCL NVDR
 
1,676,300
1,648,921
PTT Oil & Retail Business PCL NVDR
 
2,242,700
1,123,036
PTT PCL NVDR
 
7,419,500
6,706,000
Robinsons Department Store PCL (For. Reg.) (a)
 
55,100
23,661
SCB X PCL:
 
 
 
 (For. Reg.)
 
222,300
634,883
 NVDR
 
405,400
1,157,812
SCG Packaging PCL NVDR
 
963,000
836,097
Siam Cement PCL NVDR
 
580,700
3,879,842
Thai Oil PCL NVDR
 
914,721
1,329,209
TMBThanachart Bank PCL NVDR
 
18,108,500
880,025
True Corp. PCL (a)
 
2,607,532
536,258
True Corp. PCL NVDR (a)
 
5,358,898
1,102,096
TOTAL THAILAND
 
 
79,062,014
Turkey - 0.8%
 
 
 
Akbank TAS
 
2,312,933
4,245,748
Aselsan A/S
 
1,013,737
1,901,564
Bim Birlesik Magazalar A/S JSC
 
337,594
4,034,085
Coca-Cola Icecek Sanayi A/S
 
56,572
1,266,423
Eregli Demir ve Celik Fabrikalari T.A.S.
 
1,037,660
1,379,648
Ford Otomotiv Sanayi A/S
 
52,047
1,790,277
Haci Omer Sabanci Holding A/S
 
756,311
2,155,467
Koc Holding A/S
 
564,030
3,937,695
Pegasus Hava Tasimaciligi A/S (a)
 
34,087
1,088,300
Sasa Polyester Sanayi A/S
 
986,372
1,257,245
Tofas Turk Otomobil Fabrikasi A/S
 
92,738
788,178
Turk Hava Yollari AO (a)
 
409,157
4,118,574
Turkcell Iletisim Hizmet A/S
 
896,713
2,237,197
Turkiye Is Bankasi A/S Series C
 
6,277,926
2,657,621
Turkiye Petrol Rafinerileri A/S
 
714,118
4,317,397
Turkiye Sise ve Cam Fabrikalari A/S
 
1,021,801
1,590,143
Yapi ve Kredi Bankasi A/S
 
2,504,700
2,496,483
TOTAL TURKEY
 
 
41,262,045
United Arab Emirates - 1.1%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
2,171,005
4,935,580
Abu Dhabi Islamic Bank
 
1,077,141
3,272,862
Abu Dhabi National Oil Co. for Distribution PJSC
 
2,315,366
2,200,067
Aldar Properties PJSC
 
2,855,711
4,245,196
Americana Restaurants International PLC
 
1,873,450
1,698,546
Dubai Islamic Bank Pakistan Ltd.
 
2,147,177
3,250,375
Emaar Properties PJSC
 
4,913,994
10,984,206
Emirates NBD Bank PJSC
 
1,404,951
6,502,809
Emirates Telecommunications Corp.
 
2,578,759
11,935,774
First Abu Dhabi Bank PJSC
 
3,276,146
11,131,885
Multiply Group (a)
 
2,907,754
1,820,859
TOTAL UNITED ARAB EMIRATES
 
 
61,978,159
United Kingdom - 0.1%
 
 
 
AngloGold Ashanti PLC
 
311,114
7,155,187
Pepco Group NV (a)
 
128,086
609,106
TOTAL UNITED KINGDOM
 
 
7,764,293
United States of America - 0.1%
 
 
 
JBS SA
 
575,500
2,597,874
Legend Biotech Corp. ADR (a)
 
53,770
2,351,900
Parade Technologies Ltd.
 
57,000
1,291,746
TOTAL UNITED STATES OF AMERICA
 
 
6,241,520
 
TOTAL COMMON STOCKS
 (Cost $4,213,593,412)
 
 
 
5,197,776,300
 
 
 
 
Nonconvertible Preferred Stocks - 2.2%
 
 
Shares
Value ($)
 
Brazil - 1.4%
 
 
 
Banco Bradesco SA (PN)
 
3,944,688
10,635,449
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)
 
187,005
1,496,731
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
1,341,418
3,281,083
Companhia Paranaense de Energia-COPEL (PN-B)
 
808,500
1,415,334
Gerdau SA
 
1,028,892
3,618,143
Itau Unibanco Holding SA
 
3,592,271
21,695,031
Itausa-Investimentos Itau SA (PN)
 
4,020,839
7,402,692
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)
 
3,529,900
28,564,957
TOTAL BRAZIL
 
 
78,109,420
Chile - 0.1%
 
 
 
Sociedad Quimica y Minera de Chile SA (PN-B)
 
105,886
4,836,312
Colombia - 0.1%
 
 
 
Bancolombia SA (PN)
 
334,852
2,739,931
Korea (South) - 0.6%
 
 
 
Hyundai Motor Co. Ltd.
 
17,070
1,936,959
Hyundai Motor Co. Ltd. Series 2
 
26,701
3,042,523
LG Chemical Ltd.
 
5,697
1,090,317
LG H & H Co. Ltd.
 
988
132,969
Samsung Electronics Co. Ltd.
 
609,683
28,387,091
TOTAL KOREA (SOUTH)
 
 
34,589,859
Russia - 0.0%
 
 
 
Surgutneftegas OJSC (a)(d)
 
3,570,022
61,846
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $94,246,867)
 
 
 
120,337,368
 
 
 
 
Government Obligations - 0.3%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.3%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $14,952,008)
 
15,000,000
14,951,600
 
 
 
 
Money Market Funds - 4.1%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
193,120,312
193,158,937
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
35,784,083
35,787,661
 
TOTAL MONEY MARKET FUNDS
 (Cost $228,946,733)
 
 
228,946,598
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 101.0%
 (Cost $4,551,739,020)
 
 
 
5,562,011,866
NET OTHER ASSETS (LIABILITIES) - (1.0)%  
(56,165,838)
NET ASSETS - 100.0%
5,505,846,028
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE MSCI Emerging Markets Index Contracts (United States)
3,589
Jun 2024
186,986,900
(395,474)
(395,474)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 3.4%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $242,058,545 or 4.4% of net assets.
 
(c)
Security or a portion of the security is on loan at period end.
 
(d)
Level 3 security
 
(e)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $6,045,430.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
215,977,603
1,116,439,202
1,139,257,607
3,779,123
(126)
(135)
193,158,937
0.4%
Fidelity Securities Lending Cash Central Fund 5.39%
26,639,700
122,829,615
113,681,654
209,959
-
-
35,787,661
0.1%
Total
242,617,303
1,239,268,817
1,252,939,261
3,989,082
(126)
(135)
228,946,598
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
479,979,931
63,553,917
415,871,439
554,575
Consumer Discretionary
683,285,960
113,498,415
569,728,681
58,864
Consumer Staples
295,801,589
86,524,591
209,276,995
3
Energy
292,245,512
101,330,242
187,467,744
3,447,526
Financials
1,188,414,876
376,048,166
811,945,203
421,507
Health Care
180,573,828
20,373,559
160,200,269
-
Industrials
370,151,154
77,041,913
293,012,768
96,473
Information Technology
1,201,622,404
8,175,121
1,193,447,283
-
Materials
389,933,795
134,853,158
254,369,608
711,029
Real Estate
82,889,052
32,462,598
50,426,454
-
Utilities
153,215,567
50,496,335
102,609,220
110,012
 Government Obligations
14,951,600
-
14,951,600
-
  Money Market Funds
228,946,598
228,946,598
-
-
 Total Investments in Securities:
5,562,011,866
1,293,304,613
4,263,307,264
5,399,989
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(395,474)
(395,474)
-
-
  Total Liabilities
(395,474)
(395,474)
-
-
 Total Derivative Instruments:
(395,474)
(395,474)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(395,474)
Total Equity Risk
0
(395,474)
Total Value of Derivatives
0
(395,474)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $33,399,887) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $4,322,792,287)
$
5,333,065,268
 
 
Fidelity Central Funds (cost $228,946,733)
228,946,598
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $4,551,739,020)
 
 
$
5,562,011,866
Foreign currency held at value (cost $3,474,227)
 
 
3,442,714
Receivable for investments sold
 
 
684
Receivable for fund shares sold
 
 
3,994,820
Dividends receivable
 
 
8,112,599
Distributions receivable from Fidelity Central Funds
 
 
752,691
Prepaid expenses
 
 
1,040
Receivable from investment adviser for expense reductions
 
 
285,769
  Total assets
 
 
5,578,602,183
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
96,475
 
 
Payable for fund shares redeemed
2,427,098
 
 
Accrued management fee
341,895
 
 
Payable for daily variation margin on futures contracts
2,552,718
 
 
Deferred taxes
29,823,240
 
 
Other payables and accrued expenses
1,715,815
 
 
Collateral on securities loaned
35,798,914
 
 
  Total liabilities
 
 
 
72,756,155
Net Assets  
 
 
$
5,505,846,028
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
5,375,432,205
Total accumulated earnings (loss)
 
 
 
130,413,823
Net Assets
 
 
$
5,505,846,028
Net Asset Value, offering price and redemption price per share ($5,505,846,028 ÷ 415,942,266 shares)
 
 
$
13.24
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
51,717,968
Interest  
 
 
402,082
Income from Fidelity Central Funds (including $209,959 from security lending)
 
 
3,989,082
 Income before foreign taxes withheld
 
 
$
56,109,132
Less foreign taxes withheld
 
 
(5,471,426)
 Total income
 
 
 
50,637,706
Expenses
 
 
 
 
Management fee
$
1,692,721
 
 
Custodian fees and expenses
1,329,314
 
 
Independent trustees' fees and expenses
5,920
 
 
Registration fees
213,558
 
 
Audit
53,892
 
 
Legal
2,533
 
 
Miscellaneous
8,105
 
 
 Total expenses before reductions
 
3,306,043
 
 
 Expense reductions
 
(1,632,341)
 
 
 Total expenses after reductions
 
 
 
1,673,702
Net Investment income (loss)
 
 
 
48,964,004
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $84,352)
 
(37,172,907)
 
 
   Fidelity Central Funds
 
(126)
 
 
 Foreign currency transactions
 
(1,119,582)
 
 
 Futures contracts
 
14,380,837
 
 
Total net realized gain (loss)
 
 
 
(23,911,778)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $19,744,408)  
 
497,617,152
 
 
   Fidelity Central Funds
 
(135)
 
 
 Assets and liabilities in foreign currencies
 
(126,248)
 
 
 Futures contracts
 
6,783,377
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
504,274,146
Net gain (loss)
 
 
 
480,362,368
Net increase (decrease) in net assets resulting from operations
 
 
$
529,326,372
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
48,964,004
$
104,406,121
Net realized gain (loss)
 
(23,911,778)
 
 
(163,057,283)
 
Change in net unrealized appreciation (depreciation)
 
504,274,146
 
402,410,789
 
Net increase (decrease) in net assets resulting from operations
 
529,326,372
 
 
343,759,627
 
Distributions to shareholders
 
(104,651,089)
 
 
(87,971,565)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,785,916,981
 
1,703,730,387
  Reinvestment of distributions
 
103,468,129
 
 
87,324,787
 
Cost of shares redeemed
 
(316,880,705)
 
(1,494,269,332)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
1,572,504,405
 
 
296,785,842
 
Total increase (decrease) in net assets
 
1,997,179,688
 
 
552,573,904
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
3,508,666,340
 
2,956,092,436
 
End of period
$
5,505,846,028
$
3,508,666,340
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
138,653,109
 
137,300,618
  Issued in reinvestment of distributions
 
8,172,838
 
 
7,193,146
 
Redeemed
 
(24,630,057)
 
(117,777,572)
Net increase (decrease)
 
122,195,890
 
26,716,192
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI Emerging Markets Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
11.94
$
11.07
$
16.49
$
14.45
$
13.71
$
12.62
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.14
 
.37
 
.41
 
.36
 
.30
 
.42 C
     Net realized and unrealized gain (loss)
 
1.51
 
.81
 
(5.38)
 
1.93
 
.80
 
.99
  Total from investment operations
 
1.65  
 
1.18  
 
(4.97)  
 
2.29  
 
1.10
 
1.41
  Distributions from net investment income
 
(.35)
 
(.31)
 
(.45)
 
(.25)
 
(.36)
 
(.32)
     Total distributions
 
(.35)
 
(.31)
 
(.45)
 
(.25)
 
(.36)
 
(.32)
  Net asset value, end of period
$
13.24
$
11.94
$
11.07
$
16.49
$
14.45
$
13.71
 Total Return D,E
 
13.93
%
 
 
10.58%
 
(30.89)%
 
15.87%
 
8.19%
 
11.44%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.15% H,I
 
.15%
 
.15%
 
.13%
 
.14%
 
.16%
    Expenses net of fee waivers, if any
 
.08
% H
 
 
.08%
 
.08%
 
.08%
 
.08%
 
.08%
    Expenses net of all reductions
 
.07% H
 
.08%
 
.08%
 
.08%
 
.08%
 
.08%
    Net investment income (loss)
 
2.17% H
 
2.93%
 
2.95%
 
2.10%
 
2.21%
 
3.12% C
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
5,505,846
$
3,508,666
$
2,956,092
$
3,806,157
$
3,564,409
$
3,840,772
    Portfolio turnover rate J
 
2
% H
 
 
32%
 
30%
 
16%
 
38%
 
22%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CNet investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.51%.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HAnnualized.
 
IProxy expenses are not annualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity SAI Emerging Markets Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Deferred taxes on the Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$1,416,529,985
Gross unrealized depreciation
(464,048,958)
Net unrealized appreciation (depreciation)
$952,481,027
Tax cost
$4,609,135,365
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(434,329,895)
 Long-term
(364,576,017)
Total capital loss carryforward
$(798,905,912)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and  in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI Emerging Markets Index Fund
1,618,208,783
53,251,777
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .075% of the Fund's average net assets.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
 
Amount ($)
Fidelity SAI Emerging Markets Index Fund
3,966
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity SAI Emerging Markets Index Fund
22,269
 -
-
9. Expense Reductions.
The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .075% of average net assets. This reimbursement will remain in place through February 28, 2025. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $1,607,425.
 
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $24,916.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Fidelity Emerging Markets Fund
Fidelity SAI Emerging Markets Index Fund
30%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI Emerging Markets Index Fund
38%
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI Emerging Markets Index Fund
 
 
 
.08%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,139.30
 
$ .43
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.47
 
$ .40
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9870287.108
SV6-SANN-0624
Fidelity® SAI International Momentum Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by Fidelity Product Services LLC (FPS), and FPS bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the relationship between FPS and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
4.4
 
Toyota Motor Corp.  (Japan, Automobiles)
2.6
 
HSBC Holdings PLC (United Kingdom)  (United Kingdom, Banks)
2.6
 
Mitsubishi Corp.  (Japan, Trading Companies & Distributors)
2.6
 
L'Oreal SA  (France, Personal Care Products)
2.3
 
Hermes International SCA  (France, Textiles, Apparel & Luxury Goods)
2.2
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
2.1
 
ABB Ltd. (Reg.)  (Switzerland, Electrical Equipment)
2.1
 
Mitsui & Co. Ltd.  (Japan, Trading Companies & Distributors)
1.9
 
Banco Bilbao Vizcaya Argentaria SA  (Spain, Banks)
1.8
 
 
24.6
 
 
Market Sectors (% of Fund's net assets)
 
Financials
21.3
 
Industrials
20.2
 
Consumer Discretionary
11.2
 
Health Care
10.1
 
Materials
9.1
 
Information Technology
7.4
 
Consumer Staples
7.3
 
Energy
4.6
 
Communication Services
2.9
 
Utilities
2.9
 
Real Estate
1.9
 
 
Asset Allocation (% of Fund's net assets)
Futures - 1.1%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 98.8%
 
 
Shares
Value ($)
 
Australia - 5.1%
 
 
 
Altium Ltd.
 
24,338
1,028,277
Ampol Ltd.
 
46,393
1,095,515
Aristocrat Leisure Ltd.
 
26,119
666,557
BHP Group Ltd.
 
80,500
2,207,802
BlueScope Steel Ltd.
 
88,143
1,286,485
Brambles Ltd.
 
267,525
2,516,782
CAR Group Ltd.
 
78,848
1,709,702
Cochlear Ltd.
 
13,686
2,855,009
Fortescue Ltd.
 
348,452
5,775,399
JB Hi-Fi Ltd.
 
22,886
893,060
Medibank Private Ltd.
 
530,545
1,215,935
NEXTDC Ltd. (a)
 
92,490
981,826
Origin Energy Ltd.
 
341,977
2,158,360
Pro Medicus Ltd.
 
10,744
767,606
QBE Insurance Group Ltd.
 
294,065
3,363,800
Reece Ltd.
 
44,635
791,809
Rio Tinto Ltd.
 
57,318
4,770,253
Seven Group Holdings Ltd.
 
31,056
754,633
Steadfast Group Ltd.
 
201,365
732,852
Washington H. Soul Pattinson & Co. Ltd.
 
48,422
1,013,356
Whitehaven Coal Ltd.
 
144,575
715,138
TOTAL AUSTRALIA
 
 
37,300,156
Austria - 0.1%
 
 
 
Raiffeisen International Bank-Holding AG
 
27,179
504,114
Belgium - 0.1%
 
 
 
Lotus Bakeries SA
 
84
845,350
Denmark - 5.8%
 
 
 
Ambu A/S Series B (a)
 
38,334
617,335
Danske Bank A/S
 
117,456
3,394,828
Demant A/S (a)
 
19,671
946,833
Jyske Bank A/S (Reg.)
 
9,136
743,152
NKT A/S (a)
 
11,241
939,310
Novo Nordisk A/S Series B
 
255,305
32,740,907
Pandora A/S
 
16,806
2,571,795
Zealand Pharma A/S (a)
 
10,246
928,003
TOTAL DENMARK
 
 
42,882,163
Faroe Islands - 0.1%
 
 
 
Bakkafrost
 
10,382
634,593
Finland - 1.2%
 
 
 
Nordea Bank Abp
 
607,058
7,083,922
Wartsila Corp.
 
96,396
1,785,889
TOTAL FINLAND
 
 
8,869,811
France - 11.6%
 
 
 
Accor SA
 
37,113
1,636,165
Air Liquide SA
 
66,549
13,015,561
Bollore SA
 
157,527
1,025,488
Capgemini SA
 
32,506
6,832,146
Engie SA
 
345,580
5,999,482
EssilorLuxottica SA
 
39,521
8,469,104
Gaztransport et Technigaz SA
 
4,574
639,460
Hermes International SCA
 
6,599
15,852,561
L'Oreal SA
 
36,546
17,147,182
Publicis Groupe SA
 
48,783
5,383,047
Safran SA
 
31,542
6,839,316
Sodexo SA
 
15,765
1,375,395
TotalEnergies SE
 
23,152
1,680,806
TOTAL FRANCE
 
 
85,895,713
Germany - 6.5%
 
 
 
Beiersdorf AG
 
18,910
2,836,405
Carl Zeiss Meditec AG
 
7,669
811,070
CTS Eventim AG
 
12,252
1,087,868
Deutsche Telekom AG
 
344,765
7,897,037
E.ON SE
 
432,041
5,717,320
Hannover Reuck SE
 
12,116
3,004,977
HeidelbergCement AG
 
26,267
2,652,962
Hochtief AG
 
4,476
471,469
Morphosys AG (a)
 
7,877
556,220
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
28,088
12,355,907
Nemetschek SE
 
11,641
1,037,965
Scout24 AG (b)
 
14,906
1,099,221
Siemens AG
 
39,218
7,346,848
Talanx AG
 
10,917
823,699
TOTAL GERMANY
 
 
47,698,968
Ireland - 0.3%
 
 
 
AIB Group PLC
 
224,441
1,165,521
Glanbia PLC
 
38,936
741,297
TOTAL IRELAND
 
 
1,906,818
Israel - 0.1%
 
 
 
Nova Ltd. (a)
 
6,013
1,040,240
Italy - 5.1%
 
 
 
A2A SpA
 
313,572
620,932
Banca Popolare di Sondrio SCARL
 
95,012
796,979
Banco BPM SpA
 
301,083
1,987,017
BPER Banca
 
213,468
1,114,234
Buzzi SpA
 
19,765
714,216
Coca-Cola HBC AG
 
39,519
1,278,967
Eni SpA
 
461,413
7,411,073
Hera SpA
 
168,247
608,685
Leonardo SpA
 
80,406
1,856,055
Mediobanca SpA
 
126,366
1,800,352
Prysmian SpA
 
50,802
2,774,769
Recordati SpA
 
20,967
1,119,918
Ryanair Holdings PLC sponsored ADR
 
16,339
2,225,372
UniCredit SpA
 
358,200
13,147,503
TOTAL ITALY
 
 
37,456,072
Japan - 26.7%
 
 
 
AEON Co. Ltd.
 
179,400
3,750,949
Chubu Electric Power Co., Inc.
 
150,100
1,926,678
Chugai Pharmaceutical Co. Ltd.
 
131,300
4,175,848
COMSYS Holdings Corp.
 
23,400
547,737
Daiwa House Industry Co. Ltd.
 
132,300
3,722,778
Daiwa Securities Group, Inc.
 
305,300
2,243,668
Disco Corp.
 
18,600
5,298,131
Fast Retailing Co. Ltd.
 
35,500
9,282,152
Honda Motor Co. Ltd.
 
464,500
5,284,887
Hulic Co. Ltd.
 
123,100
1,134,324
Idemitsu Kosan Co. Ltd.
 
233,500
1,581,990
Isetan Mitsukoshi Holdings Ltd.
 
75,500
1,060,410
Itochu Corp.
 
275,700
12,438,143
Japan Exchange Group, Inc.
 
108,800
2,548,153
Japan Post Holdings Co. Ltd.
 
403,100
3,871,090
Japan Tobacco, Inc.
 
218,300
5,872,623
Kyushu Electric Power Co., Inc.
 
97,600
905,424
Marubeni Corp.
 
87,500
1,558,932
Mitsubishi Corp.
 
826,200
18,894,848
Mitsubishi Heavy Industries Ltd.
 
630,300
5,635,586
Mitsui & Co. Ltd.
 
297,400
14,357,192
Mitsui Fudosan Co. Ltd.
 
492,600
5,013,221
NEC Corp.
 
57,100
4,134,154
Nippon Sanso Holdings Corp.
 
42,200
1,253,442
Nomura Holdings, Inc.
 
615,400
3,501,618
Otsuka Holdings Co. Ltd.
 
87,000
3,719,847
Santen Pharmaceutical Co. Ltd.
 
78,500
758,238
Sanwa Holdings Corp.
 
43,100
703,861
Sapporo Holdings Ltd.
 
16,200
585,560
Screen Holdings Co. Ltd.
 
20,000
2,063,543
SCSK Corp.
 
30,800
559,919
Shin-Etsu Chemical Co. Ltd.
 
275,200
10,652,700
Skylark Holdings Co. Ltd.
 
46,900
668,356
Sumitomo Corp.
 
233,900
6,150,908
Sumitomo Mitsui Financial Group, Inc.
 
68,700
3,902,422
TDK Corp.
 
39,900
1,779,979
Tokio Marine Holdings, Inc.
 
381,100
12,045,197
Tokyo Electric Power Co., Inc. (a)
 
165,300
1,028,212
Tokyo Electron Ltd.
 
51,200
11,230,511
Toyo Suisan Kaisha Ltd.
 
19,100
1,194,405
Toyota Motor Corp.
 
839,900
19,156,940
Yamazaki Baking Co. Ltd.
 
35,000
847,119
TOTAL JAPAN
 
 
197,041,695
Jordan - 0.1%
 
 
 
Hikma Pharmaceuticals PLC
 
33,893
814,833
Netherlands - 2.3%
 
 
 
ASM International NV (Netherlands)
 
9,232
5,864,143
ASML Holding NV (Netherlands)
 
1,324
1,176,582
BE Semiconductor Industries NV
 
16,698
2,236,423
Fugro NV:
 
 
 
 (Certificaten Van Aandelen)
 
23,360
569,895
 rights (a)(c)
 
23,360
9,972
Wolters Kluwer NV
 
48,117
7,227,578
TOTAL NETHERLANDS
 
 
17,084,593
New Zealand - 0.5%
 
 
 
Fisher & Paykel Healthcare Corp.
 
109,686
1,836,994
Xero Ltd. (a)
 
27,896
2,165,795
TOTAL NEW ZEALAND
 
 
4,002,789
Norway - 0.4%
 
 
 
Frontline PLC
 
28,551
680,844
Kongsberg Gruppen ASA
 
16,545
1,170,668
Salmar ASA
 
14,861
938,470
TOTAL NORWAY
 
 
2,789,982
Singapore - 1.8%
 
 
 
Keppel Ltd.
 
271,128
1,356,159
Oversea-Chinese Banking Corp. Ltd.
 
764,600
7,937,751
Sembcorp Industries Ltd.
 
180,300
704,626
Singapore Airlines Ltd.
 
269,000
1,283,566
Singapore Exchange Ltd.
 
162,300
1,107,134
Singapore Technologies Engineering Ltd.
 
302,200
887,708
TOTAL SINGAPORE
 
 
13,276,944
Spain - 4.9%
 
 
 
ACS Actividades de Construccion y Servicios SA
 
39,781
1,595,432
Banco Bilbao Vizcaya Argentaria SA
 
1,221,333
13,207,458
Banco de Sabadell SA
 
1,118,221
2,143,284
Bankinter SA
 
121,083
958,811
CaixaBank SA
 
804,712
4,243,696
Industria de Diseno Textil SA
 
225,343
10,304,827
Repsol SA
 
253,060
3,972,049
TOTAL SPAIN
 
 
36,425,557
Sweden - 2.7%
 
 
 
AAK AB
 
37,920
979,278
Fastighets AB Balder (a)
 
133,239
857,438
Hemnet Group AB
 
17,569
460,731
Investor AB (B Shares)
 
358,975
8,871,442
Lagercrantz Group AB (B Shares)
 
41,672
619,763
Mycronic AB
 
14,899
524,285
Svenska Handelsbanken AB (A Shares)
 
333,471
2,859,623
Swedbank AB (A Shares)
 
173,682
3,347,434
Swedish Orphan Biovitrum AB (a)
 
46,143
1,194,985
TOTAL SWEDEN
 
 
19,714,979
Switzerland - 3.9%
 
 
 
ABB Ltd. (Reg.)
 
318,951
15,497,331
Accelleron Industries Ltd.
 
16,007
624,434
Alcon, Inc. (Switzerland)
 
42,180
3,262,440
Lindt & Spruengli AG
 
39
4,514,115
Logitech International SA (Reg.)
 
33,309
2,611,092
PSP Swiss Property AG
 
9,413
1,166,321
Siegfried Holding AG
 
781
749,352
TOTAL SWITZERLAND
 
 
28,425,085
United Kingdom - 12.3%
 
 
 
3i Group PLC
 
203,592
7,273,823
Admiral Group PLC
 
52,335
1,784,635
Associated British Foods PLC
 
69,309
2,300,230
Auto Trader Group PLC (b)
 
106,646
924,565
BAE Systems PLC
 
578,642
9,624,099
Britvic PLC
 
49,690
549,187
Bunzl PLC
 
55,412
2,128,440
Centrica PLC
 
1,114,435
1,781,758
Computacenter PLC
 
15,594
503,115
ConvaTec Group PLC (b)
 
338,544
1,057,569
Cranswick PLC
 
11,268
606,845
HSBC Holdings PLC (United Kingdom)
 
2,202,838
19,094,097
IMI PLC
 
26,911
589,139
Informa PLC
 
273,491
2,719,572
InterContinental Hotel Group PLC
 
36,067
3,517,759
Intermediate Capital Group PLC
 
61,578
1,615,841
J Sainsbury PLC
 
340,817
1,121,736
Londonmetric Properity PLC
 
426,097
1,046,756
Marks & Spencer Group PLC
 
405,970
1,297,622
Next PLC
 
26,261
2,955,924
RELX PLC (London Stock Exchange)
 
161,866
6,650,569
Rolls-Royce Holdings PLC (a)
 
1,760,423
9,027,494
Sage Group PLC
 
205,542
2,994,696
Shaftesbury Capital PLC
 
386,442
650,437
Subsea 7 SA
 
45,661
740,704
Tesco PLC
 
1,459,819
5,389,755
Whitbread PLC
 
38,126
1,508,770
Wise PLC (a)
 
98,596
956,653
TOTAL UNITED KINGDOM
 
 
90,411,790
United States of America - 7.2%
 
 
 
CRH PLC
 
153,221
11,939,277
Ferrovial SE
 
66,060
2,382,874
GSK PLC
 
313,264
6,499,263
Holcim AG
 
104,999
8,789,233
James Hardie Industries PLC CDI (a)
 
87,916
3,022,372
Shell PLC (London)
 
437,075
15,537,412
Stellantis NV (Italy)
 
220,203
4,906,813
TOTAL UNITED STATES OF AMERICA
 
 
53,077,244
 
TOTAL COMMON STOCKS
 (Cost $561,786,984)
 
 
 
728,099,489
 
 
 
 
Government Obligations - 0.0%
 
 
Principal
Amount (d)
 
Value ($)
 
United States of America - 0.0%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (e)
  (Cost $398,720)
 
400,000
398,709
 
 
 
 
Money Market Funds - 0.4%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (f)
 
 (Cost $2,644,844)
 
 
2,644,315
2,644,844
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.2%
 (Cost $564,830,548)
 
 
 
731,143,042
NET OTHER ASSETS (LIABILITIES) - 0.8%  
5,857,582
NET ASSETS - 100.0%
737,000,624
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
73
Jun 2024
8,276,375
(174,932)
(174,932)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 1.1%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $3,081,355 or 0.4% of net assets.
 
(c)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(d)
Amount is stated in United States dollars unless otherwise noted.
 
(e)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $269,129.
 
(f)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
94,176
27,763,008
25,212,340
80,659
-
-
2,644,844
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
-
9,208,914
9,208,914
7,871
-
-
-
0.0%
Total
94,176
36,971,922
34,421,254
88,530
-
-
2,644,844
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
22,307,231
6,392,880
15,914,351
-
Consumer Discretionary
81,642,371
41,112,250
40,530,121
-
Consumer Staples
53,431,688
35,791,277
17,640,411
-
Energy
34,054,991
2,061,008
31,993,983
-
Financials
157,761,978
54,452,802
103,309,176
-
Health Care
73,881,374
19,971,442
53,909,932
-
Industrials
149,214,817
26,351,296
122,863,521
-
Information Technology
54,682,585
18,608,304
36,074,281
-
Materials
66,079,702
15,306,455
50,773,247
-
Real Estate
13,591,275
3,720,952
9,870,323
-
Utilities
21,451,477
8,728,695
12,722,782
-
 Government Obligations
398,709
-
398,709
-
  Money Market Funds
2,644,844
2,644,844
-
-
 Total Investments in Securities:
731,143,042
235,142,205
496,000,837
-
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(174,932)
(174,932)
-
-
  Total Liabilities
(174,932)
(174,932)
-
-
 Total Derivative Instruments:
(174,932)
(174,932)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(174,932)
Total Equity Risk
0
(174,932)
Total Value of Derivatives
0
(174,932)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $562,185,704)
$
728,498,198
 
 
Fidelity Central Funds (cost $2,644,844)
2,644,844
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $564,830,548)
 
 
$
731,143,042
Foreign currency held at value (cost $657,628)
 
 
656,989
Receivable for investments sold
 
 
675,773
Receivable for fund shares sold
 
 
142,193
Dividends receivable
 
 
2,795,720
Reclaims receivable
 
 
2,078,956
Distributions receivable from Fidelity Central Funds
 
 
4,988
Prepaid expenses
 
 
195
  Total assets
 
 
737,497,856
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
9,972
 
 
Payable for fund shares redeemed
200,049
 
 
Accrued management fee
93,052
 
 
Payable for daily variation margin on futures contracts
113,880
 
 
Audit fee payable
25,075
 
 
Custody fee payable
51,932
 
 
Other payables and accrued expenses
3,272
 
 
  Total liabilities
 
 
 
497,232
Net Assets  
 
 
$
737,000,624
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
814,878,100
Total accumulated earnings (loss)
 
 
 
(77,877,476)
Net Assets
 
 
$
737,000,624
Net Asset Value, offering price and redemption price per share ($737,000,624 ÷ 52,770,724 shares)
 
 
$
13.97
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
11,556,548
Interest  
 
 
15,735
Income from Fidelity Central Funds (including $7,871 from security lending)
 
 
88,530
 Income before foreign taxes withheld
 
 
$
11,660,813
Less foreign taxes withheld
 
 
(1,085,838)
 Total income
 
 
 
10,574,975
Expenses
 
 
 
 
Management fee
$
527,042
 
 
Custodian fees and expenses
47,150
 
 
Independent trustees' fees and expenses
982
 
 
Registration fees
23,085
 
 
Audit
24,678
 
 
Legal
440
 
 
Miscellaneous
1,486
 
 
 Total expenses
 
 
 
624,863
Net Investment income (loss)
 
 
 
9,950,112
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
9,080,438
 
 
 Foreign currency transactions
 
(101,535)
 
 
 Futures contracts
 
747,932
 
 
Total net realized gain (loss)
 
 
 
9,726,835
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
122,612,847
 
 
 Assets and liabilities in foreign currencies
 
39,512
 
 
 Futures contracts
 
4,606
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
122,656,965
Net gain (loss)
 
 
 
132,383,800
Net increase (decrease) in net assets resulting from operations
 
 
$
142,333,912
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
9,950,112
$
16,753,785
Net realized gain (loss)
 
9,726,835
 
 
(9,881,709)
 
Change in net unrealized appreciation (depreciation)
 
122,656,965
 
84,392,993
 
Net increase (decrease) in net assets resulting from operations
 
142,333,912
 
 
91,265,069
 
Distributions to shareholders
 
(22,706,126)
 
 
(14,027,534)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
43,765,262
 
22,436,695
  Reinvestment of distributions
 
22,529,949
 
 
13,948,304
 
Cost of shares redeemed
 
(46,556,251)
 
(86,550,078)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
19,738,960
 
 
(50,165,079)
 
Total increase (decrease) in net assets
 
139,366,746
 
 
27,072,456
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
597,633,878
 
570,561,422
 
End of period
$
737,000,624
$
597,633,878
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
3,281,841
 
1,859,042
  Issued in reinvestment of distributions
 
1,812,546
 
 
1,243,164
 
Redeemed
 
(3,417,422)
 
(7,493,979)
Net increase (decrease)
 
1,676,965
 
(4,391,773)
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI International Momentum Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 A
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
11.70
$
10.28
$
14.51
$
11.33
$
10.00
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) B,C
 
.19
 
.32
 
.30
 
.28
 
.08
     Net realized and unrealized gain (loss)
 
2.52
 
1.37
 
(4.17)
 
3.05
 
1.25
  Total from investment operations
 
2.71  
 
1.69  
 
(3.87)  
 
3.33  
 
1.33
  Distributions from net investment income
 
(.44)
 
(.27)
 
(.27) D
 
(.09)
 
-
  Distributions from net realized gain
 
-
 
-
 
(.10) D
 
(.05)
 
-
     Total distributions
 
(.44)
 
(.27)
 
(.36) E
 
(.15) E
 
-
  Net asset value, end of period
$
13.97
$
11.70
$
10.28
$
14.51
$
11.33
 Total Return F,G
 
23.62
%
 
 
16.53%
 
(27.34)%
 
29.56%
 
13.30%
 Ratios to Average Net Assets C,H,I
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.18% J,K
 
.18%
 
.18%
 
.19%
 
.24% K,L
    Expenses net of fee waivers, if any
 
.18
% J,K
 
 
.18%
 
.18%
 
.19%
 
.20% K
    Expenses net of all reductions
 
.18% J,K
 
.18%
 
.18%
 
.19%
 
.20% K
    Net investment income (loss)
 
2.83% J,K
 
2.71%
 
2.47%
 
2.03%
 
1.55% K
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
737,001
$
597,634
$
570,561
$
1,035,573
$
372,738
    Portfolio turnover rate M
 
64
% K
 
 
63%
 
113%
 
73%
 
29% N
 
AFor the period May 12, 2020 (commencement of operations) through October 31, 2020.
 
BCalculated based on average shares outstanding during the period.
 
CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
DThe amount shown reflects reclassifications related to book to tax differences that were made in the year shown.
 
ETotal distributions per share do not sum due to rounding.
 
FTotal returns for periods of less than one year are not annualized.
 
GTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
HFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
JProxy expenses are not annualized.
 
KAnnualized.
 
LAudit fees are not annualized.
 
MAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
NAmount not annualized.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity SAI International Momentum Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), certain corporate actions, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$169,868,261
Gross unrealized depreciation
(8,546,261)
Net unrealized appreciation (depreciation)
$161,322,000
Tax cost
$569,646,110
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
Short-term
$(226,856,496)
Long-term
(28,200,295)
Total capital loss carryforward
$(255,056,791)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI International Momentum Index Fund
224,247,953
219,980,197
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .15% of the Fund's average net assets.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
Amount ($)
Fidelity SAI International Momentum Index Fund
631
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity SAI International Momentum Index Fund
836
 -
-
9. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
In addition, at the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Fidelity International Fund
Strategic Advisers International Fund
Fidelity SAI International Momentum Index Fund
49%
20%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI International Momentum Index Fund
69%
 
10. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI International Momentum Index Fund
 
 
 
.18%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,236.20
 
$ 1.00
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,023.97
 
$ .91
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9900588.103
IMI-SANN-0624
Fidelity® SAI International Value Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by Fidelity Product Services LLC (FPS), and FPS bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the relationship between FPS and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Sanofi SA  (United States of America, Pharmaceuticals)
2.7
 
Mitsubishi Corp.  (Japan, Trading Companies & Distributors)
2.4
 
Deutsche Telekom AG  (Germany, Diversified Telecommunication Services)
2.2
 
Banco Santander SA (Spain)  (Spain, Banks)
2.2
 
BNP Paribas SA  (France, Banks)
2.0
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
2.0
 
Mitsui & Co. Ltd.  (Japan, Trading Companies & Distributors)
2.0
 
British American Tobacco PLC (United Kingdom) (United Kingdom, Tobacco)
1.8
 
Rio Tinto PLC  (Australia, Metals & Mining)
1.8
 
Glencore PLC  (Australia, Metals & Mining)
1.7
 
 
20.8
 
 
Market Sectors (% of Fund's net assets)
 
Financials
21.4
 
Industrials
15.8
 
Consumer Discretionary
13.1
 
Health Care
10.1
 
Materials
9.6
 
Information Technology
6.8
 
Consumer Staples
6.5
 
Energy
6.2
 
Communication Services
4.4
 
Utilities
3.5
 
Real Estate
1.4
 
 
Asset Allocation (% of Fund's net assets)
Futures - 1.6%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 98.4%
 
 
Shares
Value ($)
 
Australia - 5.1%
 
 
 
BlueScope Steel Ltd.
 
617,395
9,011,142
Glencore PLC
 
15,061,067
87,633,788
IGO Ltd.
 
937,040
4,667,099
Pilbara Minerals Ltd. (a)
 
3,934,566
10,017,025
Qantas Airways Ltd. (b)
 
1,190,904
4,493,168
Rio Tinto Ltd.
 
516,276
42,966,728
Rio Tinto PLC
 
1,328,052
89,857,032
Whitehaven Coal Ltd.
 
1,162,405
5,749,822
TOTAL AUSTRALIA
 
 
254,395,804
Austria - 0.9%
 
 
 
Erste Group Bank AG
 
491,933
23,031,351
Raiffeisen International Bank-Holding AG
 
187,788
3,483,080
Verbund AG
 
115,963
8,860,909
Voestalpine AG
 
146,631
3,930,893
Wienerberger AG
 
146,595
5,250,334
TOTAL AUSTRIA
 
 
44,556,567
Belgium - 1.2%
 
 
 
Ageas
 
231,330
10,650,204
Anheuser-Busch InBev SA NV
 
844,053
50,452,247
TOTAL BELGIUM
 
 
61,102,451
Brazil - 0.1%
 
 
 
Yara International ASA
 
226,498
6,473,702
China - 0.7%
 
 
 
BOC Hong Kong (Holdings) Ltd.
 
4,999,000
15,322,402
ENN Energy Holdings Ltd.
 
1,054,400
8,983,903
Wilmar International Ltd.
 
4,183,400
9,833,389
TOTAL CHINA
 
 
34,139,694
Denmark - 0.6%
 
 
 
A.P. Moller - Maersk A/S Series B
 
10,132
14,772,722
ISS A/S
 
214,594
4,028,493
Novo Nordisk A/S Series B
 
98,763
12,665,595
Svitzer A/S
 
20,264
680,937
TOTAL DENMARK
 
 
32,147,747
Finland - 0.7%
 
 
 
Fortum Corp.
 
610,923
8,071,476
Nokia Corp.
 
7,340,153
26,684,038
TOTAL FINLAND
 
 
34,755,514
France - 11.6%
 
 
 
Alstom SA (a)
 
390,166
6,152,163
Arkema SA
 
87,739
9,087,283
BNP Paribas SA
 
1,404,553
101,074,238
Bouygues SA
 
270,955
10,007,938
Carrefour SA
 
739,880
12,447,168
Compagnie de St.-Gobain
 
704,984
55,751,974
Compagnie Generale des Etablissements Michelin SCA Series B
 
993,905
38,184,487
Credit Agricole SA
 
1,572,761
24,335,700
Eiffage SA
 
105,137
11,253,881
Elis SA
 
285,735
6,440,257
Engie SA
 
2,439,557
42,352,213
Eurazeo SA
 
65,706
5,946,298
Forvia SE (b)
 
230,147
3,684,193
Ipsen SA
 
53,623
6,529,540
Orange SA
 
2,554,286
28,429,929
Renault SA
 
263,289
13,133,100
Rexel SA
 
321,496
8,381,946
Rubis SCA
 
134,973
4,681,404
Societe Generale Series A
 
960,970
25,893,384
Sopra Steria Group
 
20,356
4,475,128
Teleperformance
 
88,237
8,049,355
TotalEnergies SE
 
933,330
67,758,565
Valeo SA
 
287,727
3,646,509
VINCI SA
 
704,853
82,591,896
TOTAL FRANCE
 
 
580,288,549
Germany - 12.8%
 
 
 
Bayer AG
 
1,366,187
39,876,157
Bayerische Motoren Werke AG (BMW)
 
478,556
52,322,748
Commerzbank AG
 
1,449,196
21,590,284
Continental AG
 
150,301
9,758,811
Daimler Truck Holding AG
 
701,821
31,689,487
Deutsche Bank AG
 
2,838,126
45,463,010
Deutsche Lufthansa AG
 
841,287
6,027,973
Deutsche Telekom AG
 
4,855,938
111,228,008
DHL Group
 
1,309,994
54,849,360
Evonik Industries AG
 
285,091
5,946,549
Fresenius Medical Care AG & Co. KGaA
 
277,473
11,682,365
Fresenius SE & Co. KGaA
 
571,848
17,069,425
HeidelbergCement AG
 
184,006
18,584,571
Infineon Technologies AG
 
1,763,620
61,202,948
K+S AG
 
248,851
3,724,672
Mercedes-Benz Group AG (Germany)
 
1,116,163
84,427,542
Merck KGaA
 
179,753
28,573,436
RWE AG
 
941,319
32,791,336
TUI AG (b)
 
629,188
4,455,871
TOTAL GERMANY
 
 
641,264,553
Hong Kong - 1.6%
 
 
 
CK Asset Holdings Ltd.
 
2,614,500
11,152,349
Henderson Land Development Co. Ltd.
 
1,815,930
5,474,709
Hongkong Land Holdings Ltd.
 
1,440,000
4,601,060
Jardine Matheson Holdings Ltd.
 
285,233
10,915,625
Link (REIT)
 
3,578,000
15,330,997
Sino Land Ltd.
 
4,856,731
5,192,815
Sun Hung Kai Properties Ltd.
 
2,094,500
19,321,678
Swire Pacific Ltd. (A Shares)
 
762,400
6,456,544
TOTAL HONG KONG
 
 
78,445,777
Ireland - 0.3%
 
 
 
Bank of Ireland Group PLC
 
1,386,109
14,859,122
Israel - 0.9%
 
 
 
Bank Hapoalim BM (Reg.)
 
1,749,216
15,829,501
Bank Leumi le-Israel BM
 
2,118,583
16,590,136
Icl Group Ltd.
 
1,004,455
4,730,132
Israel Discount Bank Ltd. (Class A)
 
1,720,936
8,867,651
TOTAL ISRAEL
 
 
46,017,420
Italy - 3.1%
 
 
 
A2A SpA
 
2,172,754
4,302,465
BPER Banca
 
1,478,490
7,717,238
Eni SpA
 
3,337,793
53,610,601
Ryanair Holdings PLC sponsored ADR (a)
 
118,104
16,085,765
Snam SpA
 
2,853,140
13,053,893
UniCredit SpA
 
1,498,888
55,015,729
Unipol Gruppo SpA
 
479,516
4,308,846
TOTAL ITALY
 
 
154,094,537
Japan - 26.0%
 
 
 
Aisin Seiki Co. Ltd.
 
254,100
9,665,013
Ana Holdings, Inc.
 
229,500
4,358,668
Bridgestone Corp.
 
813,800
35,910,562
Brother Industries Ltd.
 
358,300
6,337,958
Canon, Inc.
 
1,409,900
38,159,354
Chubu Electric Power Co., Inc.
 
1,053,200
13,518,837
Dentsu Group, Inc.
 
310,100
8,389,192
Electric Power Development Co. Ltd.
 
241,000
4,093,866
FUJIFILM Holdings Corp.
 
1,679,900
35,735,652
Honda Motor Co. Ltd.
 
6,954,000
79,119,702
INPEX Corp.
 
1,295,100
19,400,341
Isuzu Motors Ltd.
 
865,000
10,962,019
Japan Post Holdings Co. Ltd.
 
2,711,000
26,034,548
JFE Holdings, Inc.
 
844,900
12,610,745
Kawasaki Kisen Kaisha Ltd.
 
994,300
14,009,576
Kobe Steel Ltd.
 
551,700
6,733,798
Koito Manufacturing Co. Ltd.
 
342,000
4,600,153
Kuraray Co. Ltd.
 
458,700
5,081,995
Kyocera Corp.
 
1,837,900
22,401,508
Marubeni Corp.
 
2,343,800
41,757,991
Mazda Motor Corp.
 
834,800
9,449,498
Medipal Holdings Corp.
 
285,500
4,477,512
Mitsubishi Chemical Holdings Corp.
 
1,988,900
11,602,979
Mitsubishi Corp.
 
5,325,200
121,785,096
Mitsui & Co. Ltd.
 
2,056,500
99,278,967
Mitsui OSK Lines Ltd.
 
503,600
15,984,056
Mizuho Financial Group, Inc.
 
2,390,100
46,198,500
NEC Corp.
 
368,600
26,687,374
NGK Insulators Ltd.
 
364,500
4,965,327
Nippon Express Holdings, Inc.
 
115,700
5,919,016
Nippon Steel & Sumitomo Metal Corp.
 
1,321,500
29,626,606
Nippon Yusen KK
 
709,500
20,143,037
Nissan Motor Co. Ltd.
 
3,122,520
11,427,496
Niterra Co. Ltd.
 
238,700
7,828,846
Obayashi Corp.
 
974,400
10,875,080
Ono Pharmaceutical Co. Ltd.
 
675,700
9,732,356
Otsuka Holdings Co. Ltd.
 
775,800
33,170,773
Panasonic Holdings Corp.
 
3,413,300
29,792,838
Renesas Electronics Corp.
 
1,988,500
32,284,793
Ricoh Co. Ltd.
 
847,300
7,309,706
ROHM Co. Ltd.
 
486,900
6,999,116
Seiko Epson Corp.
 
455,000
7,484,744
Sekisui House Ltd.
 
921,900
21,185,591
Seven & i Holdings Co. Ltd.
 
3,328,800
43,012,093
Shionogi & Co. Ltd.
 
388,900
18,161,930
Sojitz Corp.
 
291,300
7,500,061
Stanley Electric Co. Ltd.
 
204,300
3,615,495
Subaru Corp.
 
838,900
18,731,791
Sumitomo Corp.
 
1,693,900
44,544,773
Sumitomo Electric Industries Ltd.
 
1,104,200
17,066,868
Sumitomo Forestry Co. Ltd.
 
272,300
8,389,481
Sumitomo Metal Mining Co. Ltd.
 
379,800
12,688,603
Suzuki Motor Corp.
 
2,732,200
31,818,615
Takeda Pharmaceutical Co. Ltd.
 
2,200,100
57,823,186
Tokyo Gas Co. Ltd.
 
562,400
12,613,095
Toray Industries, Inc.
 
2,265,800
10,356,342
Toyota Tsusho Corp.
 
314,000
19,964,102
Yamaha Motor Co. Ltd.
 
1,460,900
13,626,140
Yamato Kogyo Co. Ltd.
 
65,200
3,503,143
Yokohama Rubber Co. Ltd.
 
186,300
4,876,254
TOTAL JAPAN
 
 
1,301,382,757
Luxembourg - 0.3%
 
 
 
ArcelorMittal SA (Netherlands)
 
640,777
16,131,720
Netherlands - 2.7%
 
 
 
ABN AMRO Bank NV:
 
 
 
 GDR (Bearer) (c)
 
601,999
9,694,621
 rights (b)(d)
 
601,999
571,783
ASML Holding NV (Netherlands)
 
8,816
7,834,404
EXOR NV
 
140,144
15,359,984
JDE Peet's BV
 
182,191
4,048,121
Koninklijke Ahold Delhaize NV
 
1,336,957
40,582,228
Koninklijke Philips Electronics NV
 
1,270,786
33,747,231
NN Group NV
 
396,725
18,353,736
Signify NV (c)
 
177,190
4,871,143
TOTAL NETHERLANDS
 
 
135,063,251
Norway - 1.0%
 
 
 
Equinor ASA
 
1,337,811
35,596,980
Norsk Hydro ASA
 
1,890,413
11,617,316
TOTAL NORWAY
 
 
47,214,296
Singapore - 4.5%
 
 
 
DBS Group Holdings Ltd.
 
2,750,448
70,019,277
Oversea-Chinese Banking Corp. Ltd.
 
5,399,086
56,051,009
Seatrium Ltd. (a)(b)
 
57,860,900
4,133,356
Singapore Airlines Ltd.
 
1,879,400
8,967,784
STMicroelectronics NV (Italy)
 
886,503
35,126,308
United Overseas Bank Ltd.
 
2,133,600
47,346,300
Venture Corp. Ltd.
 
377,448
3,999,153
TOTAL SINGAPORE
 
 
225,643,187
Spain - 4.5%
 
 
 
ACS Actividades de Construccion y Servicios SA
 
278,881
11,184,627
Banco de Sabadell SA
 
7,571,668
14,512,549
Banco Santander SA (Spain)
 
22,015,561
107,442,666
CaixaBank SA
 
5,473,347
28,864,019
Repsol SA
 
1,693,344
26,578,853
Telefonica SA
 
8,003,086
35,850,602
TOTAL SPAIN
 
 
224,433,316
Sweden - 0.5%
 
 
 
SSAB AB (B Shares) (a)
 
1,188,753
6,720,202
Telefonaktiebolaget LM Ericsson (B Shares)
 
3,193,068
16,204,461
TOTAL SWEDEN
 
 
22,924,663
Switzerland - 0.4%
 
 
 
Avolta AG (b)
 
152,893
5,781,934
Swatch Group AG (Bearer)
 
55,249
11,608,440
TOTAL SWITZERLAND
 
 
17,390,374
United Kingdom - 10.1%
 
 
 
3i Group PLC
 
1,315,096
46,985,029
Barclays PLC
 
20,039,770
50,526,171
Barratt Developments PLC
 
1,354,619
7,696,544
British American Tobacco PLC (United Kingdom)
 
3,109,462
91,282,229
BT Group PLC
 
7,894,655
10,121,250
Centrica PLC
 
7,800,419
12,471,304
CK Hutchison Holdings Ltd.
 
3,729,500
18,113,346
easyJet PLC
 
904,103
6,084,682
HSBC Holdings PLC (United Kingdom)
 
4,924,239
42,683,074
Imperial Brands PLC
 
1,235,872
28,239,868
Inchcape PLC
 
574,176
5,739,693
International Consolidated Airlines Group SA CDI (b)
 
3,483,346
7,591,432
J Sainsbury PLC
 
2,469,783
8,128,833
Kingfisher PLC
 
2,604,985
8,024,198
Lloyds Banking Group PLC
 
71,828,207
46,356,737
NatWest Group PLC
 
7,433,475
28,056,787
Standard Chartered PLC (United Kingdom)
 
2,987,756
25,669,427
Tesco PLC
 
9,583,188
35,381,811
Vodafone Group PLC
 
31,655,537
26,695,180
TOTAL UNITED KINGDOM
 
 
505,847,595
United States of America - 8.8%
 
 
 
GSK PLC
 
4,106,269
85,192,433
Holcim AG
 
510,613
42,742,280
Roche Holding AG (participation certificate)
 
42,103
10,088,478
Sanofi SA
 
1,349,471
133,318,308
Shell PLC (London)
 
2,823,186
100,360,360
Stellantis NV (Italy)
 
3,077,755
68,582,034
TOTAL UNITED STATES OF AMERICA
 
 
440,283,893
 
TOTAL COMMON STOCKS
 (Cost $4,232,551,447)
 
 
 
4,918,856,489
 
 
 
 
Government Obligations - 0.0%
 
 
Principal
Amount (e)
 
Value ($)
 
United States of America - 0.0%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (f)
  (Cost $2,890,722)
 
2,900,000
2,890,643
 
 
 
 
Money Market Funds - 1.3%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (g)
 
34,818,132
34,825,096
Fidelity Securities Lending Cash Central Fund 5.39% (g)(h)
 
29,307,124
29,310,055
 
TOTAL MONEY MARKET FUNDS
 (Cost $64,135,151)
 
 
64,135,151
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.7%
 (Cost $4,299,577,320)
 
 
 
4,985,882,283
NET OTHER ASSETS (LIABILITIES) - 0.3%  
13,543,098
NET ASSETS - 100.0%
4,999,425,381
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
712
Jun 2024
80,723,000
(1,658,201)
(1,658,201)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 1.6%
 
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(b)
Non-income producing
 
(c)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $14,565,764 or 0.3% of net assets.
 
(d)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(e)
Amount is stated in United States dollars unless otherwise noted.
 
(f)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,601,578.
 
(g)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(h)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
4,868,220
615,491,864
585,534,956
925,756
(32)
-
34,825,096
0.1%
Fidelity Securities Lending Cash Central Fund 5.39%
27,003,300
165,614,959
163,308,204
170,190
-
-
29,310,055
0.1%
Total
31,871,520
781,106,823
748,843,160
1,095,946
(32)
-
64,135,151
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
220,714,161
10,121,250
210,592,911
-
Consumer Discretionary
635,112,466
165,372,994
469,739,472
-
Consumer Staples
323,407,987
12,176,954
311,231,033
-
Energy
309,055,522
-
309,055,522
-
Financials
1,080,704,391
344,272,060
736,432,331
-
Health Care
502,108,725
92,048,558
410,060,167
-
Industrials
804,205,060
139,559,206
664,645,854
-
Information Technology
338,926,645
12,309,532
326,617,113
-
Materials
471,296,679
80,580,058
390,716,621
-
Real Estate
67,530,152
-
67,530,152
-
Utilities
165,794,701
38,387,558
127,407,143
-
 Government Obligations
2,890,643
-
2,890,643
-
  Money Market Funds
64,135,151
64,135,151
-
-
 Total Investments in Securities:
4,985,882,283
958,963,321
4,026,918,962
-
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(1,658,201)
(1,658,201)
-
-
  Total Liabilities
(1,658,201)
(1,658,201)
-
-
 Total Derivative Instruments:
(1,658,201)
(1,658,201)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(1,658,201)
Total Equity Risk
0
(1,658,201)
Total Value of Derivatives
0
(1,658,201)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $26,987,033) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $4,235,442,169)
$
4,921,747,132
 
 
Fidelity Central Funds (cost $64,135,151)
64,135,151
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $4,299,577,320)
 
 
$
4,985,882,283
Foreign currency held at value (cost $7,945,119)
 
 
7,918,464
Receivable for fund shares sold
 
 
103,367
Dividends receivable
 
 
30,383,797
Reclaims receivable
 
 
12,548,161
Distributions receivable from Fidelity Central Funds
 
 
137,176
Prepaid expenses
 
 
1,271
  Total assets
 
 
5,036,974,519
Liabilities
 
 
 
 
Payable for investments purchased
 
 
 
 
Regular delivery
$
5,530,168
 
 
Delayed delivery
571,783
 
 
Payable for fund shares redeemed
142,051
 
 
Accrued management fee
622,641
 
 
Payable for daily variation margin on futures contracts
1,103,499
 
 
Other payables and accrued expenses
268,941
 
 
Collateral on securities loaned
29,310,055
 
 
  Total liabilities
 
 
 
37,549,138
Net Assets  
 
 
$
4,999,425,381
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
4,740,715,022
Total accumulated earnings (loss)
 
 
 
258,710,359
Net Assets
 
 
$
4,999,425,381
Net Asset Value, offering price and redemption price per share ($4,999,425,381 ÷ 509,495,970 shares)
 
 
$
9.81
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends:
 
 
 
 
 Unaffiliated issuers
 
 
$
84,705,555
Foreign Tax Reclaims
 
 
5,843,283
Interest  
 
 
135,991
Income from Fidelity Central Funds (including $170,190 from security lending)
 
 
1,095,946
 Income before foreign taxes withheld
 
 
$
91,780,775
Less foreign taxes withheld
 
 
(7,269,831)
 Total income
 
 
 
84,510,944
Expenses
 
 
 
 
Management fee
$
3,330,657
 
 
Custodian fees and expenses
197,360
 
 
Independent trustees' fees and expenses
6,174
 
 
Registration fees
21,490
 
 
Audit
24,943
 
 
Legal
2,748
 
 
Miscellaneous
8,088
 
 
 Total expenses
 
 
 
3,591,460
Net Investment income (loss)
 
 
 
80,919,484
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
86,291,923
 
 
   Fidelity Central Funds
 
(32)
 
 
 Foreign currency transactions
 
208,957
 
 
 Futures contracts
 
5,559,120
 
 
Total net realized gain (loss)
 
 
 
92,059,968
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
545,342,289
 
 
 Assets and liabilities in foreign currencies
 
28,270
 
 
 Futures contracts
 
(41,033)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
545,329,526
Net gain (loss)
 
 
 
637,389,494
Net increase (decrease) in net assets resulting from operations
 
 
$
718,308,978
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
80,919,484
$
190,930,449
Net realized gain (loss)
 
92,059,968
 
 
(14,713,486)
 
Change in net unrealized appreciation (depreciation)
 
545,329,526
 
665,072,184
 
Net increase (decrease) in net assets resulting from operations
 
718,308,978
 
 
841,289,147
 
Distributions to shareholders
 
(235,417,408)
 
 
(199,830,507)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
616,080,499
 
28,673,028
  Reinvestment of distributions
 
230,467,224
 
 
196,381,215
 
Cost of shares redeemed
 
(89,443,095)
 
(1,255,801,776)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
757,104,628
 
 
(1,030,747,533)
 
Total increase (decrease) in net assets
 
1,239,996,198
 
 
(389,288,893)
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
3,759,429,183
 
4,148,718,076
 
End of period
$
4,999,425,381
$
3,759,429,183
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
65,595,805
 
3,212,167
  Issued in reinvestment of distributions
 
25,607,469
 
 
23,546,908
 
Redeemed
 
(9,208,039)
 
(141,228,215)
Net increase (decrease)
 
81,995,235
 
(114,469,140)
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI International Value Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
8.79
$
7.65
$
10.03
$
7.16
$
9.19
$
8.93
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.17
 
.39
 
.42
 
.38
 
.24
 
.37
     Net realized and unrealized gain (loss)
 
1.40
 
1.14
 
(1.99)
 
2.63
 
(1.95)
 
.07
  Total from investment operations
 
1.57  
 
1.53  
 
(1.57)  
 
3.01  
 
(1.71)
 
.44
  Distributions from net investment income
 
(.55)
 
(.39)
 
(.46)
 
(.14)
 
(.32)
 
(.18)
  Distributions from net realized gain
 
-
 
-
 
(.35)
 
-
 
-
 
- C
     Total distributions
 
(.55)
 
(.39)
 
(.81)
 
(.14)
 
(.32)
 
(.18)
  Net asset value, end of period
$
9.81
$
8.79
$
7.65
$
10.03
$
7.16
$
9.19
 Total Return D,E
 
18.41
%
 
 
20.25%
 
(16.93)%
 
42.33%
 
(19.36)%
 
5.12%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.16% H,I
 
.17%
 
.16%
 
.17%
 
.18%
 
.26%
    Expenses net of fee waivers, if any
 
.16
% H,I
 
 
.17%
 
.16%
 
.17%
 
.18%
 
.20%
    Expenses net of all reductions
 
.16% H,I
 
.17%
 
.16%
 
.17%
 
.18%
 
.20%
    Net investment income (loss)
 
3.64% H,I
 
4.33%
 
4.82%
 
3.84%
 
3.04%
 
4.22%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
4,999,425
$
3,759,429
$
4,148,718
$
5,985,049
$
2,258,397
$
1,036,532
    Portfolio turnover rate J
 
58
% H
 
 
62%
 
79%
 
60%
 
57%
 
59%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CAmount represents less than $.005 per share.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HAnnualized.
 
IProxy expenses are not annualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
For the period ended April 30, 2024
 
 
1. Organization.
Fidelity SAI International Value Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
 
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign tax reclaims. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign tax reclaims. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), certain corporate actions, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$854,116,023
Gross unrealized depreciation
(237,089,715)
Net unrealized appreciation (depreciation)
$617,026,308
Tax cost
$4,367,197,774
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
Short-term
$(286,256,532)
Long-term
(210,891,744)
Total capital loss carryforward
$(497,148,276)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
 
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
 
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI International Value Index Fund
1,843,636,404
1,276,691,446
 
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .15% of the Fund's average net assets.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
 
Amount ($)
Fidelity SAI International Value Index Fund
3,972
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity SAI International Value Index Fund
18,337
 -
-
9. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
In addition, at the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Fidelity International Fund
Strategic Advisers International Fund
Fidelity SAI International Value Index Fund
85%
11%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI International Value Index Fund
96%
10. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
 
 
 
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI International Value Index Fund
 
 
 
.16%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,184.10
 
$ .87
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.07
 
$ .81
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9885502.106
IIV-SANN-0624
Fidelity® Total International Index Fund
 
 
Semi-Annual Report
April 30, 2024

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
2.0
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
1.4
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
1.2
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
1.0
 
Nestle SA (Reg. S)  (United States of America, Food Products)
0.9
 
Samsung Electronics Co. Ltd.  (Korea (South), Technology Hardware, Storage & Peripherals)
0.9
 
Toyota Motor Corp.  (Japan, Automobiles)
0.8
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
0.8
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
0.8
 
LVMH Moet Hennessy Louis Vuitton SE  (France, Textiles, Apparel & Luxury Goods)
0.8
 
 
10.6
 
 
Market Sectors (% of Fund's net assets)
 
Financials
21.7
 
Industrials
12.8
 
Information Technology
12.3
 
Consumer Discretionary
11.1
 
Health Care
8.8
 
Materials
7.6
 
Consumer Staples
7.3
 
Energy
5.8
 
Communication Services
4.8
 
Utilities
2.8
 
Real Estate
1.7
 
 
Asset Allocation (% of Fund's net assets)
Futures - 3.3%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 95.8%
 
 
Shares
Value ($)
 
Australia - 4.7%
 
 
 
Abacus Storage King
 
291,659
212,707
Accent Group Ltd.
 
191,985
233,262
Adbri Ltd. (a)
 
152,621
309,609
AGL Energy Ltd.
 
249,749
1,521,113
ALS Ltd.
 
183,363
1,533,101
Altium Ltd.
 
47,754
2,017,600
Alumina Ltd. (a)
 
1,015,980
1,043,744
AMP Ltd.
 
1,103,911
776,971
Ampol Ltd.
 
95,148
2,246,805
Ansell Ltd.
 
57,656
947,928
ANZ Group Holdings Ltd.
 
1,198,077
21,618,016
APA Group unit
 
499,810
2,667,226
ARB Corp. Ltd.
 
32,863
806,770
Arena (REIT) unit
 
193,857
457,388
Aristocrat Leisure Ltd.
 
232,017
5,921,070
ASX Ltd.
 
76,787
3,136,760
Atlas Arteria Ltd. unit
 
470,682
1,567,576
Aub Group Ltd.
 
45,539
825,912
Audinate Group Ltd. (a)
 
31,684
380,390
Aurizon Holdings Ltd.
 
730,575
1,794,476
Aussie Broadband Ltd. (a)(b)
 
109,845
262,003
Austal Ltd.
 
175,009
258,853
AVZ Minerals Ltd. (a)(c)
 
729,530
368,620
Bank of Queensland Ltd.
 
281,664
1,112,616
Bapcor Ltd.
 
140,556
526,282
Beach Energy Ltd.
 
673,440
689,591
Bega Cheese Ltd.
 
116,246
308,174
Bellevue Gold Ltd. (a)
 
492,855
556,874
Bendigo & Adelaide Bank Ltd.
 
231,530
1,451,260
BHP Group Ltd.
 
2,032,770
55,750,986
BlueScope Steel Ltd.
 
179,474
2,619,499
Boral Ltd. (b)
 
119,650
440,274
Boss Energy Ltd. (a)(b)
 
174,560
549,414
Brambles Ltd.
 
553,549
5,207,597
Breville Group Ltd.
 
43,518
716,513
Brickworks Ltd.
 
32,613
561,700
BWP Trust (b)
 
225,678
516,439
Capricorn Metals Ltd. (a)
 
148,429
469,867
CAR Group Ltd.
 
142,294
3,085,434
Centuria Capital Group unit
 
320,159
352,424
Centuria Industrial REIT
 
213,792
436,534
Cettire Ltd. (a)
 
107,680
204,690
Challenger Ltd.
 
187,996
809,963
Champion Iron Ltd.
 
166,523
754,654
Charter Hall Group unit
 
192,391
1,461,061
Charter Hall Long Wale REIT unit
 
297,833
644,211
Charter Hall Retail REIT
 
260,174
555,148
Charter Hall Social Infrastruc
 
201,619
329,332
Cleanaway Waste Management Ltd.
 
855,965
1,480,795
Cochlear Ltd.
 
26,482
5,524,356
Codan Ltd./Australia
 
41,711
293,964
Coles Group Ltd.
 
530,263
5,530,229
Collins Foods Ltd.
 
52,960
339,499
Commonwealth Bank of Australia
 
669,438
49,049,407
Computershare Ltd.
 
212,946
3,741,114
Coronado Global Resources, Inc. CDI (b)(d)
 
404,601
321,552
Corporate Travel Management Ltd.
 
52,837
517,663
Credit Corp. Group Ltd.
 
30,756
321,856
CSR Ltd.
 
193,888
1,105,896
Data#3 Ltd.
 
62,672
308,254
De Grey Mining Ltd. (a)
 
682,354
567,833
Deep Yellow Ltd. (a)
 
365,752
337,427
Deterra Royalties Ltd.
 
195,775
619,706
Dexus Industria (REIT)
 
115,909
217,936
DEXUS Property Group unit
 
430,751
1,956,563
Dicker Data Ltd.
 
44,340
305,457
Domain Holdings Australia Ltd. (b)
 
127,409
240,790
Dominos Pizza Enterprises Ltd.
 
28,134
709,692
Downer EDI Ltd.
 
277,082
831,815
Eagers Automotive Ltd.
 
66,436
535,184
EBOS Group Ltd.
 
62,941
1,297,026
Elders Ltd.
 
68,567
372,537
Emerald Resources NL (a)
 
230,062
517,892
Endeavour Group Ltd.
 
575,338
1,978,533
Evolution Mining Ltd.
 
798,508
2,059,179
EVT Ltd.
 
41,722
319,314
Firefinch Ltd. (a)(b)(c)
 
386,763
50,109
Fleetpartners Group Ltd. (a)
 
112,153
259,686
Flight Centre Travel Group Ltd. (b)
 
73,366
997,192
Fortescue Ltd.
 
679,421
11,261,027
G8 Education Ltd.
 
337,716
265,270
Genesis Minerals Ltd. (a)
 
422,448
472,407
Glencore PLC
 
4,157,241
24,189,174
Gold Road Resources Ltd.
 
464,883
481,077
Goodman Group unit
 
685,577
13,848,403
GrainCorp Ltd.
 
93,853
515,690
GUD Holdings Ltd.
 
64,608
424,266
Hansen Technologies Ltd.
 
92,282
279,633
Harvey Norman Holdings Ltd.
 
227,433
667,928
Healius Ltd. (a)(b)
 
290,485
223,774
HealthCo REIT
 
271,809
209,790
Helia Group Ltd.
 
146,914
377,091
Hmc Capital Ltd.
 
95,780
388,004
HomeCo Daily Needs (REIT) unit
 
728,294
571,009
HUB24 Ltd.
 
31,596
811,813
IDP Education Ltd.
 
109,768
1,144,540
IGO Ltd.
 
282,317
1,406,132
Iluka Resources Ltd.
 
179,347
872,096
Imdex Ltd.
 
222,069
297,813
Incitec Pivot Ltd.
 
780,609
1,401,652
Ingenia Communities Group unit
 
168,986
500,864
Inghams Group Ltd.
 
158,792
375,842
Insignia Financial Ltd.
 
241,956
378,655
Insurance Australia Group Ltd.
 
966,753
4,005,236
IPH Ltd.
 
102,741
413,579
Iress Ltd. (a)
 
82,644
451,679
JB Hi-Fi Ltd.
 
44,687
1,743,781
Johns Lyng Group Ltd. (b)
 
93,824
336,456
Judo Capital Holdings Ltd. (a)
 
334,078
286,839
Jumbo Interactive Ltd.
 
28,848
293,222
Karoon Energy Ltd. (a)
 
351,794
434,203
Kelsian Group Ltd.
 
89,824
319,232
Lendlease Group unit
 
269,965
1,113,348
Leo Lithium Ltd. (a)(c)
 
399,362
130,647
Lifestyle Communities Ltd.
 
48,331
368,761
Link Administration Holdings Ltd.
 
184,857
266,774
Liontown Resources Ltd. (a)
 
613,944
481,807
Lovisa Holdings Ltd. (b)
 
27,907
562,439
Lynas Rare Earths Ltd. (a)
 
385,298
1,611,067
Macquarie Group Ltd.
 
144,964
17,357,774
Magellan Financial Group Ltd.
 
78,258
444,359
Magellan Financial Group Ltd. warrants 4/16/27 (a)
 
4,999
385
McMillan Shakespeare Ltd.
 
24,673
294,508
Medibank Private Ltd.
 
1,116,327
2,558,466
Megaport Ltd. (a)
 
62,774
537,503
Metcash Ltd.
 
395,053
1,001,809
Mineral Resources Ltd.
 
71,156
3,227,802
Mirvac Group unit
 
1,580,262
2,070,569
Monadelphous Group Ltd.
 
46,747
401,552
Nanosonics Ltd. (a)
 
134,535
248,932
National Australia Bank Ltd.
 
1,243,210
26,949,723
National Storage REIT unit
 
528,586
728,882
Netwealth Group Ltd.
 
55,295
695,972
Neuren Pharmaceuticals Ltd. (a)
 
47,523
583,486
New Hope Corp. Ltd.
 
232,763
677,112
NEXTDC Ltd. (a)
 
243,199
2,581,675
NIB Holdings Ltd.
 
200,770
958,785
Nick Scali Ltd.
 
32,419
325,019
Nine Entertainment Co. Holdings Ltd.
 
593,766
578,753
Northern Star Resources Ltd.
 
462,636
4,385,203
NRW Holdings Ltd.
 
196,108
350,045
Nufarm Ltd.
 
157,005
518,946
OceanaGold Corp.
 
292,562
633,302
oOh!media Ltd.
 
269,179
291,029
Orica Ltd.
 
189,056
2,189,029
Origin Energy Ltd.
 
688,944
4,348,213
Orora Ltd.
 
565,712
792,955
Paladin Energy Ltd. (Australia) (a)
 
116,584
1,034,654
Perenti Ltd.
 
394,240
241,984
Perpetual Trustees Australia Ltd.
 
42,700
649,221
Perseus Mining Ltd. (Australia)
 
572,911
838,010
PEXA Group Ltd. (a)
 
57,843
449,919
Pilbara Minerals Ltd. (b)
 
1,156,154
2,943,456
Pinnacle Investment Management Group Ltd.
 
64,528
462,333
PolyNovo Ltd. (a)
 
293,046
380,252
Premier Investments Ltd.
 
39,405
757,981
Pro Medicus Ltd.
 
21,485
1,534,998
PWR Holdings Ltd.
 
37,903
286,923
Qantas Airways Ltd. (a)
 
343,692
1,296,717
QBE Insurance Group Ltd.
 
596,540
6,823,802
Qube Holdings Ltd.
 
679,873
1,446,271
Ramelius Resources Ltd.
 
460,681
611,098
Ramsay Health Care Ltd.
 
74,286
2,490,083
REA Group Ltd.
 
21,268
2,437,910
Red 5 Ltd. (a)
 
1,241,848
355,695
Reece Ltd.
 
90,895
1,612,446
Region RE Ltd. unit
 
507,460
711,384
Regis Resources Ltd. (a)
 
327,950
461,943
Resolute Mng Ltd. (a)
 
948,577
257,694
Rio Tinto Ltd.
 
147,479
12,273,842
Rio Tinto PLC
 
451,417
30,543,226
Rural Funds Group unit
 
187,317
242,490
Sandfire Resources NL (a)
 
191,229
1,151,777
Santos Ltd.
 
1,299,324
6,376,261
Scentre Group unit
 
2,049,393
4,150,125
SEEK Ltd.
 
144,609
2,233,895
Seven Group Holdings Ltd.
 
66,093
1,606,001
Sigma Healthcare Ltd.
 
458,572
373,407
Silex Systems Ltd. (a)(b)
 
80,343
261,149
Silver Lake Resources Ltd. (a)
 
432,349
398,969
SiteMinder Ltd. (a)
 
101,017
368,326
Smartgroup Corp. Ltd.
 
60,095
368,482
Sonic Healthcare Ltd.
 
182,427
3,135,131
South32 Ltd.
 
1,836,071
4,188,961
Stanmore Resources Ltd.
 
137,864
294,671
Steadfast Group Ltd.
 
428,462
1,559,354
Stockland Corp. Ltd. unit
 
954,830
2,705,145
Suncorp Group Ltd.
 
507,110
5,416,146
Super Retail Group Ltd.
 
68,303
635,107
Tabcorp Holdings Ltd.
 
977,859
458,828
Technology One Ltd.
 
120,516
1,248,210
Telix Pharmaceuticals Ltd. (a)
 
102,642
985,061
Telstra Group Ltd.
 
1,566,892
3,701,958
Temple & Webster Group Ltd. (a)
 
36,876
269,130
The GPT Group
 
774,210
2,082,186
The Lottery Corp. Ltd.
 
895,812
2,794,478
The Star Entertainment Group Ltd. (a)
 
1,077,787
277,834
Transurban Group unit
 
1,217,447
9,774,225
Treasury Wine Estates Ltd.
 
326,076
2,528,788
Ventia Services Group Pty Ltd.
 
332,492
773,825
Vicinity Centres unit
 
1,527,653
1,870,716
Viva Energy Group Ltd. (d)
 
445,534
975,494
Washington H. Soul Pattinson & Co. Ltd.
 
92,618
1,938,272
Waypoint (REIT) unit
 
302,413
453,777
Webjet Ltd. (a)(b)
 
167,147
877,365
Weebit Nano Ltd. (a)(b)
 
80,852
162,580
Wesfarmers Ltd.
 
453,622
19,432,814
West African Resources Ltd. (a)
 
441,091
373,760
Westgold Resources Ltd.
 
217,718
311,039
Westpac Banking Corp.
 
1,400,832
23,262,698
Whitehaven Coal Ltd.
 
323,470
1,600,040
WiseTech Global Ltd.
 
67,226
3,960,455
Woodside Energy Group Ltd.
 
760,690
13,629,289
Woolworths Group Ltd.
 
488,066
10,013,709
WorleyParsons Ltd.
 
149,360
1,441,802
Yancoal Australia Ltd. (b)
 
139,773
498,980
TOTAL AUSTRALIA
 
 
575,706,253
Austria - 0.2%
 
 
 
ams-OSRAM AG (a)
 
416,377
505,722
Andritz AG
 
26,859
1,473,326
AT&S Austria Technologie & Systemtechnik AG
 
12,623
281,011
BAWAG Group AG (d)
 
30,634
1,837,324
CA Immobilien Anlagen AG
 
14,570
474,248
DO & CO Restaurants & Catering AG
 
3,208
492,310
Erste Group Bank AG
 
137,254
6,425,967
EVN AG
 
14,500
446,436
Immofinanz AG (a)
 
12,781
317,127
Immofinanz AG (a)(c)
 
23,102
0
Kontron AG
 
18,062
363,926
Lenzing AG (a)
 
9,450
306,081
Mondi PLC
 
179,914
3,414,887
Oesterreichische Post AG
 
15,337
489,393
OMV AG
 
59,192
2,822,422
Raiffeisen International Bank-Holding AG
 
53,948
1,000,624
S IMMO AG rights (a)(c)
 
14,648
0
Schoeller-Bleckmann Oilfield Equipment AG
 
5,556
270,972
UNIQA Insurance Group AG
 
49,307
434,119
Verbund AG
 
27,514
2,102,387
Vienna Insurance Group AG
 
15,041
469,514
Voestalpine AG
 
46,919
1,257,808
Wienerberger AG
 
42,383
1,517,957
TOTAL AUSTRIA
 
 
26,703,561
Bailiwick of Jersey - 0.0%
 
 
 
JTC PLC (d)
 
65,483
699,598
Belgium - 0.5%
 
 
 
Ackermans & Van Haaren SA
 
8,792
1,515,326
Aedifica SA (b)
 
19,553
1,255,148
Aedifica SA rights (a)(e)
 
14,150
28,927
Ageas
 
64,310
2,960,769
Anheuser-Busch InBev SA NV
 
347,841
20,791,775
Barco NV
 
30,849
430,620
Bekaert SA
 
14,656
736,060
Cofinimmo SA (b)
 
14,870
988,655
Colruyt NV
 
18,312
848,538
D'ieteren Group
 
8,305
1,800,981
Deme Group NV
 
3,214
512,439
Elia Group SA/NV
 
12,089
1,165,640
Fagron NV
 
30,188
587,631
Galapagos NV (a)(b)
 
21,692
613,551
Groupe Bruxelles Lambert SA
 
32,639
2,433,039
KBC Ancora
 
15,667
758,244
KBC Group NV
 
100,414
7,490,611
Kinepolis Group NV
 
6,499
277,776
Lotus Bakeries SA
 
167
1,680,637
Melexis NV
 
8,508
715,483
Montea SICAFI SCA
 
6,700
576,309
Ontex Group NV (a)(b)
 
37,140
374,955
Proximus
 
60,194
444,213
Recticel SA (b)
 
23,854
315,158
Retail Estates NV
 
4,867
340,730
Shurgard Self Storage SA
 
13,744
564,702
Sofina SA
 
6,132
1,444,931
Solvay SA Class A
 
31,514
1,018,013
Syensqo SA
 
30,046
2,795,755
Tessenderlo Group
 
11,186
287,699
UCB SA
 
50,943
6,771,331
Umicore SA
 
84,939
1,890,894
VGP NV (b)
 
5,727
625,854
Warehouses de Pauw
 
68,942
1,834,958
Warehouses de Pauw rights (a)(e)
 
68,942
82,404
X-Fab Silicon Foundries SE (a)(d)
 
28,908
201,455
Xior Student Housing NV (a)
 
14,508
433,522
Xior Student Housing NV:
 
 
 
 rights (a)(e)
 
14,508
8,077
 rights (a)(e)
 
14,508
18,824
TOTAL BELGIUM
 
 
67,621,634
Brazil - 1.1%
 
 
 
3R Petroleum Oleo e Gas SA
 
106,993
683,465
AES Brasil Energia SA
 
141,315
257,723
Allos SA
 
184,864
743,358
Alupar Investimento SA unit
 
65,723
352,372
Ambev SA
 
1,869,263
4,373,829
Arezzo Industria e Comercio SA
 
33,700
336,961
Atacadao SA
 
261,200
561,877
Auren Energia SA
 
117,689
262,685
B3 SA - Brasil Bolsa Balcao
 
2,274,934
4,727,215
Banco Bradesco SA
 
834,930
1,987,393
Banco BTG Pactual SA unit
 
462,800
2,976,836
Banco do Brasil SA
 
683,000
3,606,644
Banco Santander SA (Brasil) unit
 
148,100
824,267
BB Seguridade Participacoes SA
 
277,500
1,720,814
BRF SA (a)
 
241,172
783,997
Caixa Seguridade Participacoes
 
245,000
738,878
CCR SA
 
400,384
950,725
Centrais Eletricas Brasileiras SA (Electrobras)
 
403,276
2,940,344
Cielo SA
 
524,600
562,728
Cogna Educacao (a)
 
900,154
376,177
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
 
133,800
2,082,524
Companhia de Saneamento de Minas Gerais - COPASA
 
87,800
331,072
Companhia Siderurgica Nacional SA (CSN)
 
277,087
742,798
Compania de Saneamento do Parana
 
98,300
487,089
Cosan SA
 
503,764
1,406,728
CPFL Energia SA (a)
 
87,600
538,158
Cury Construtora e Incorporado SA
 
68,400
258,183
Cyrela Brazil Realty SA
 
137,200
536,371
Dexco SA
 
204,776
285,123
Direcional Engenharia SA
 
68,800
308,981
Ecorodovias Infraestrutura e Logistica SA
 
132,200
184,580
Embraer SA (a)
 
285,188
1,831,649
Enauta Participacoes SA
 
66,400
349,353
Energisa SA unit
 
105,100
912,839
Eneva SA (a)
 
237,300
565,762
ENGIE Brasil Energia SA
 
84,481
665,423
Equatorial Energia SA
 
412,679
2,431,123
ERO Copper Corp. (a)
 
38,468
784,366
EZ Tec Empreendimentos e Participacoes SA
 
69,900
185,364
Fleury SA
 
127,012
354,184
Gol Linhas Aereas Inteligentes SA warrants 7/23/24 (a)(c)
 
900
139
GPS Participacoes e Empreendimentos SA (d)
 
144,100
520,332
Grendene SA
 
183,400
217,568
Grupo de Moda Soma SA
 
230,616
269,583
Grupo Mateus SA (a)
 
242,100
345,950
Hapvida Participacoes e Investimentos SA (a)(d)
 
2,001,335
1,422,202
Hidrovias do Brasil SA (a)
 
280,500
237,144
Hypera SA (a)
 
161,300
916,993
Iguatemi SA unit
 
92,510
372,705
Intelbras SA Industria de Telecomunicacao Eletronica Brasileira
 
54,400
234,672
IRB Brasil Resseguros SA (a)
 
30,513
249,623
Klabin SA unit
 
300,000
1,331,125
Localiza Rent a Car SA
 
368,535
3,479,812
Lojas Renner SA
 
404,337
1,193,715
LWSA SA (d)
 
181,900
161,141
M. Dias Branco SA
 
33,257
217,375
Magazine Luiza SA (a)
 
1,495,851
391,780
Marfrig Global Foods SA (a)
 
168,000
305,743
Minerva SA
 
173,000
203,898
MRV Engenharia e Participacoes SA (a)
 
180,300
232,641
Multiplan Empreendimentos Imobiliarios SA
 
118,696
523,235
Natura & Co. Holding SA
 
370,952
1,185,166
Odontoprev SA
 
132,290
304,446
Oncoclinicas do Brasil Servicos Medicos SA (a)
 
123,200
174,624
Petroleo Brasileiro SA - Petrobras (ON)
 
1,326,388
11,305,691
Petroreconcavo SA
 
68,500
287,450
PRIO SA
 
324,500
2,999,653
Raia Drogasil SA
 
516,792
2,545,842
Rede D'Oregon Sao Luiz SA (d)
 
234,934
1,176,344
Rumo SA
 
527,100
2,046,438
Santos Brasil Participacoes SA
 
205,500
537,436
Sao Martinho SA
 
70,400
387,616
Sendas Distribuidora SA
 
553,405
1,398,273
Simpar SA
 
203,200
226,187
SLC Agricola SA
 
95,682
351,764
Smartfit Escola de Ginastica e Danca SA
 
114,200
532,007
Suzano SA
 
317,889
3,578,899
Telefonica Brasil SA
 
167,700
1,528,891
TIM SA
 
351,880
1,193,353
Totvs SA
 
228,800
1,213,487
Transmissora Alianca de Energia Eletrica SA
 
82,400
558,897
Ultrapar Participacoes SA
 
294,100
1,464,100
Vale SA
 
1,365,083
16,638,313
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA
 
211,700
289,872
Vibra Energia SA
 
470,342
2,124,990
Vivara Participacoes S.A.
 
65,300
278,675
Weg SA
 
671,580
5,115,162
Wheaton Precious Metals Corp.
 
182,243
9,494,402
Wilson Sons Holdings Brasil SA
 
85,300
275,977
Yara International ASA
 
66,443
1,899,055
YDUQS Participacoes SA
 
117,500
330,148
TOTAL BRAZIL
 
 
129,280,492
Burkina Faso - 0.0%
 
 
 
Endeavour Mining PLC
 
74,695
1,589,497
IAMGOLD Corp. (a)
 
202,857
720,569
TOTAL BURKINA FASO
 
 
2,310,066
Canada - 7.0%
 
 
 
Adentra, Inc.
 
9,228
285,423
Advantage Energy Ltd. (a)
 
74,592
581,933
Aecon Group, Inc.
 
28,218
346,614
Africa Oil Corp.
 
194,959
346,965
AG Growth International, Inc. (b)
 
9,391
361,615
Agnico Eagle Mines Ltd. (Canada)
 
198,981
12,600,998
Air Canada (a)
 
74,902
1,105,589
Alamos Gold, Inc.
 
161,123
2,370,058
Algoma Steel Group, Inc.
 
44,874
343,286
Algonquin Power & Utilities Corp. (b)
 
270,459
1,652,243
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
308,870
17,118,934
Allied Properties (REIT)
 
26,674
328,036
AltaGas Ltd.
 
114,571
2,511,715
Altius Minerals Corp. (b)
 
23,186
366,489
Altus Group Ltd. (b)
 
18,828
690,946
Andlauer Healthcare Group, Inc.
 
9,902
300,013
ARC Resources Ltd.
 
241,769
4,378,238
Aritzia, Inc. (a)
 
33,598
869,816
ATCO Ltd. Class I (non-vtg.)
 
31,798
867,796
Athabasca Oil Corp. (a)
 
241,445
841,852
ATS Corp. (a)
 
35,450
1,166,259
Aya Gold & Silver, Inc. (a)(b)
 
47,476
456,603
B2Gold Corp.
 
537,168
1,357,894
Badger Infrastructure Solution
 
15,518
506,690
Ballard Power Systems, Inc. (a)(b)
 
118,363
311,244
Bank of Montreal
 
287,987
25,724,593
Bank of Nova Scotia
 
484,116
22,210,995
Barrick Gold Corp. (Canada)
 
706,158
11,736,385
Baytex Energy Corp. (b)
 
313,524
1,161,495
BCE, Inc.
 
28,768
945,176
Birchcliff Energy Ltd. (b)
 
118,399
486,789
Bird Construction, Inc.
 
26,351
362,347
Bitfarms Ltd. (a)(b)
 
134,983
241,207
BlackBerry Ltd. (a)(b)
 
220,690
617,191
Boardwalk (REIT)
 
9,744
501,622
Bombardier, Inc. Class B (sub. vtg.) (a)
 
35,950
1,637,877
Boralex, Inc. Class A
 
40,454
811,930
Boyd Group Services, Inc.
 
8,805
1,646,512
Brookfield Asset Management Ltd. Class A
 
139,347
5,323,255
Brookfield Business Corp. Class A
 
16,147
330,060
Brookfield Corp. (Canada) Class A
 
556,913
22,338,820
Brookfield Infrastructure Corp. Class A
 
50,644
1,542,883
CAE, Inc. (a)
 
129,469
2,497,873
Calian Group Ltd.
 
6,338
253,032
Calibre Mining Corp. (a)
 
267,213
376,561
Cameco Corp.
 
175,321
7,999,064
Canaccord Genuity Group, Inc.
 
43,695
277,091
Canada Goose Holdings, Inc. (a)(b)
 
25,568
288,619
Canadian Apartment Properties (REIT) unit
 
33,768
1,051,072
Canadian Imperial Bank of Commerce
 
376,219
17,561,350
Canadian National Railway Co.
 
217,669
26,419,434
Canadian Natural Resources Ltd.
 
429,859
32,573,923
Canadian Pacific Kansas City Ltd.
 
373,002
29,262,497
Canadian Tire Ltd. Class A (non-vtg.)
 
21,486
2,075,635
Canadian Utilities Ltd. Class A (non-vtg.)
 
51,938
1,161,262
Canadian Western Bank, Edmonton (b)
 
42,901
823,024
Canfor Corp. (a)
 
27,636
291,286
Capital Power Corp.
 
48,757
1,272,538
Capstone Copper Corp. (a)(b)
 
170,222
1,178,379
Cardinal Energy Ltd. (b)
 
69,482
356,331
Cargojet, Inc.
 
3,942
352,207
Cascades, Inc.
 
36,751
246,671
CCL Industries, Inc. Class B
 
61,404
3,135,656
Celestica, Inc. (sub. vtg.) (a)
 
48,537
2,101,689
Cenovus Energy, Inc. (Canada)
 
563,031
11,566,133
Centerra Gold, Inc.
 
92,680
564,165
CES Energy Solutions Corp.
 
109,520
451,079
CGI, Inc. Class A (sub. vtg.) (a)
 
82,307
8,339,813
Choice Properties REIT
 
59,619
563,861
CI Financial Corp.
 
58,962
696,417
Cogeco Communications, Inc.
 
7,614
301,817
Colliers International Group, Inc.
 
16,774
1,746,792
Computer Modelling Group Ltd.
 
38,285
305,357
Constellation Software, Inc.
 
8,070
20,776,769
Constellation Software, Inc. warrants 3/31/40 (a)(c)
 
7,284
1
Converge Technology Solutions Corp.
 
88,176
342,674
Crescent Point Energy Corp.
 
241,656
2,131,046
Crombie (REIT)
 
27,316
254,974
Cronos Group, Inc. (a)(b)
 
103,566
304,484
CT Real Estate Investment Trust
 
30,923
301,671
Definity Financial Corp.
 
35,301
1,176,743
Denison Mines Corp. (a)(b)
 
372,194
740,792
dentalcorp Holdings Ltd. (a)
 
52,670
239,887
Descartes Systems Group, Inc. (Canada) (a)
 
34,462
3,196,744
Docebo, Inc. (a)
 
6,963
311,265
Dollarama, Inc.
 
112,793
9,409,180
Dream Industrial (REIT) (b)
 
57,924
522,164
Dundee Precious Metals, Inc.
 
78,035
590,655
Dye & Durham Ltd.
 
23,543
251,052
ECN Capital Corp.
 
107,723
137,720
Element Fleet Management Corp.
 
154,853
2,471,304
Emera, Inc.
 
112,699
3,800,977
Empire Co. Ltd. Class A (non-vtg.)
 
56,604
1,318,629
Enbridge, Inc.
 
847,126
30,121,540
Enerflex Ltd. (b)
 
54,602
319,287
Enerplus Corp.
 
80,093
1,566,778
Enghouse Systems Ltd.
 
21,624
468,246
EQB, Inc.
 
12,272
740,875
Equinox Gold Corp. (a)
 
124,012
671,114
Exchange Income Corp. (b)
 
10,471
352,773
Fairfax Financial Holdings Ltd. (sub. vtg.)
 
8,555
9,301,096
Fiera Capital Corp. (b)
 
40,448
201,557
Filo Corp. (a)
 
42,574
762,939
Finning International, Inc.
 
59,555
1,868,435
First Capital (REIT) unit
 
44,808
481,068
First Majestic Silver Corp.
 
118,811
792,470
First National Financial Corp. (b)
 
9,403
261,944
FirstService Corp.
 
16,206
2,380,310
Fission Uranium Corp. (a)(b)
 
326,359
256,033
Foran Mining Corp. (a)(b)
 
97,764
299,687
Fortis, Inc.
 
189,750
7,451,338
Fortuna Silver Mines, Inc. (a)
 
129,542
588,122
Franco-Nevada Corp.
 
77,278
9,302,662
Freehold Royalties Ltd.
 
60,978
627,653
George Weston Ltd.
 
23,937
3,150,159
Gibson Energy, Inc.
 
67,410
1,105,668
Gildan Activewear, Inc.
 
61,758
2,140,771
Global Atomic Corp. (a)(b)
 
87,309
132,551
goeasy Ltd.
 
5,652
722,753
Granite (REIT)
 
12,893
637,322
Great-West Lifeco, Inc.
 
109,704
3,244,143
H&R (REIT)
 
62,837
410,804
Hammond Power Solutions, Inc. Class A (b)
 
3,523
295,219
Headwater Exploration, Inc.
 
116,658
633,859
HudBay Minerals, Inc.
 
149,723
1,260,516
Hut 8 Mining Corp. (a)
 
29,651
233,262
Hydro One Ltd. (d)
 
128,006
3,585,451
iA Financial Corp., Inc.
 
40,615
2,462,302
IGM Financial, Inc.
 
32,464
811,453
Imperial Oil Ltd.
 
74,734
5,138,251
Innergex Renewable Energy, Inc.
 
70,551
411,524
Intact Financial Corp.
 
71,337
11,725,147
Interfor Corp. (a)
 
22,733
288,487
International Petroleum Corp. (a)(b)
 
40,423
499,764
InterRent REIT
 
36,576
318,295
Ivanhoe Mines Ltd. (a)
 
254,201
3,445,604
Jamieson Wellness, Inc. (d)
 
20,012
380,136
K92 Mining, Inc. (a)
 
99,762
530,460
Karora Resources, Inc. (a)
 
84,418
328,682
Kelt Exploration Ltd. (a)
 
86,021
390,536
Keyera Corp. (b)
 
91,917
2,358,267
Killam Apartment (REIT)
 
28,406
354,701
Kinaxis, Inc. (a)
 
11,879
1,264,913
Kinross Gold Corp.
 
495,640
3,197,097
Labrador Iron Ore Royalty Corp.
 
27,688
604,786
Laurentian Bank of Canada
 
20,676
386,441
Lightspeed Commerce, Inc. (Canada) (a)(b)
 
57,211
749,293
Linamar Corp.
 
17,596
828,641
Lithium Americas Corp. (b)
 
45,202
231,814
Lithium Americas Corp. (b)
 
48,815
216,302
Loblaw Companies Ltd.
 
62,272
6,828,592
Lundin Gold, Inc.
 
44,744
608,114
MAG Silver Corp. (a)
 
49,704
611,258
Magna International, Inc. Class A (sub. vtg.)
 
109,442
5,231,020
Major Drilling Group International, Inc. (a)
 
44,697
310,394
Manulife Financial Corp.
 
723,662
16,879,226
Maple Leaf Foods, Inc.
 
34,724
614,698
Martinrea International, Inc.
 
34,620
287,945
Mattr Corp. Class A (a)
 
29,957
354,919
MEG Energy Corp. (a)
 
112,152
2,550,742
Methanex Corp.
 
26,421
1,265,153
Metro, Inc.
 
90,235
4,615,806
MTY Food Group, Inc.
 
9,312
334,154
Mullen Group Ltd.
 
41,131
381,836
National Bank of Canada
 
133,915
10,752,889
New Gold, Inc. (a)
 
291,077
503,224
NexGen Energy Ltd. (a)(b)
 
203,270
1,547,430
NFI Group, Inc. (a)(b)
 
40,461
332,117
North American Construction Group Ltd.
 
12,306
259,234
North West Co., Inc.
 
21,344
604,978
Northland Power, Inc.
 
105,093
1,603,896
Novagold Resources, Inc. (a)(b)
 
114,258
331,989
Nutrien Ltd.
 
198,872
10,486,412
Nuvei Corp. (Canada) (d)
 
27,545
883,385
NuVista Energy Ltd. (a)
 
75,076
678,419
Obsidian Energy Ltd. (a)
 
37,392
320,778
Onex Corp. (sub. vtg.)
 
26,595
1,886,851
Open Text Corp.
 
110,021
3,884,881
Orla Mining Ltd. (a)(b)
 
95,859
372,532
Osisko Gold Royalties Ltd.
 
68,400
1,050,855
Osisko Mining, Inc. (a)
 
171,569
378,869
Pan American Silver Corp.
 
148,158
2,732,526
Paramount Resources Ltd. Class A
 
34,148
773,920
Parex Resources, Inc.
 
44,526
776,250
Park Lawn Corp. (b)
 
19,708
235,497
Parkland Corp.
 
57,448
1,769,781
Pason Systems, Inc.
 
35,214
400,319
Pembina Pipeline Corp.
 
233,240
8,206,985
Pet Valu Holdings Ltd.
 
19,891
446,469
Peyto Exploration & Development Corp. (b)
 
82,366
920,795
Power Corp. of Canada (sub. vtg.)
 
226,699
6,040,257
PrairieSky Royalty Ltd.
 
88,996
1,695,685
Precision Drilling Corp. (a)
 
6,223
436,308
Premium Brands Holdings Corp.
 
18,950
1,241,630
Primaris Real Estate Investmen
 
24,130
231,370
Quebecor, Inc. Class B (sub. vtg.)
 
65,779
1,361,307
RB Global, Inc.
 
73,324
5,248,532
Restaurant Brands International, Inc.
 
119,284
9,049,519
Richelieu Hardware Ltd.
 
23,676
668,153
RioCan (REIT)
 
61,847
783,505
Rogers Communications, Inc. Class B (non-vtg.)
 
143,138
5,362,021
Rogers Sugar, Inc.
 
80,602
305,042
Royal Bank of Canada
 
560,696
54,246,977
Russel Metals, Inc.
 
26,118
735,550
Sandstorm Gold Ltd.
 
107,900
589,134
Saputo, Inc.
 
103,610
1,992,196
Savaria Corp.
 
28,863
346,151
Seabridge Gold, Inc. (a)
 
31,534
473,010
Secure Energy Services, Inc.
 
98,682
835,820
Shopify, Inc. Class A (a)
 
485,306
34,071,714
Sienna Senior Living, Inc.
 
38,809
377,758
Silvercorp Metals, Inc.
 
97,145
308,374
SilverCrest Metals, Inc. (a)
 
64,513
528,138
Sleep Country Canada Holdings, Inc. (d)
 
18,391
365,108
SmartCentres (REIT) (b)
 
29,953
484,766
SNC-Lavalin Group, Inc.
 
70,762
2,717,088
Spin Master Corp. (d)
 
15,404
336,580
Sprott, Inc. (b)
 
11,245
440,847
SSR Mining, Inc.
 
86,455
463,471
Stantec, Inc.
 
45,587
3,629,674
Stelco Holdings, Inc. (b)
 
14,016
406,333
Stella-Jones, Inc.
 
21,331
1,239,279
StorageVault Canada, Inc.
 
107,804
370,401
Sun Life Financial, Inc.
 
230,692
11,778,840
Suncor Energy, Inc.
 
516,280
19,700,133
SunOpta, Inc. (a)
 
38,736
253,721
Superior Plus Corp.
 
99,056
671,334
Surge Energy, Inc.
 
52,849
286,770
Tamarack Valley Energy Ltd. (b)
 
226,040
612,450
Taseko Mines Ltd. (a)
 
142,910
352,954
TC Energy Corp.
 
412,924
14,793,456
Teck Resources Ltd. Class B (sub. vtg.)
 
185,073
9,100,055
TELUS Corp.
 
197,892
3,178,289
TFI International, Inc. (Canada)
 
32,191
4,192,208
The Toronto-Dominion Bank
 
709,847
42,111,796
Thomson Reuters Corp.
 
63,119
9,533,530
Timbercreek Financial Corp. (b)
 
60,297
326,747
TMX Group Ltd.
 
111,178
2,943,695
Topaz Energy Corp.
 
42,735
707,464
Torex Gold Resources, Inc. (a)
 
36,690
517,042
Toromont Industries Ltd.
 
33,029
3,023,030
Tourmaline Oil Corp.
 
134,481
6,572,391
TransAlta Corp.
 
115,366
765,112
Transcontinental, Inc. Class A (b)
 
34,649
343,809
Trican Well Service Ltd.
 
111,950
339,920
Tricon Residential, Inc.
 
104,647
1,172,162
Triple Flag Precious Metals Corp.
 
24,209
390,397
Trisura Group Ltd. (a)
 
20,891
638,119
Vermilion Energy, Inc.
 
70,597
813,328
Well Health Technologies Corp. (a)(b)
 
103,705
274,960
Wesdome Gold Mines, Inc. (a)
 
64,496
482,555
West Fraser Timber Co. Ltd.
 
23,058
1,766,052
Westshore Terminals Investment Corp.
 
17,079
328,516
Whitecap Resources, Inc.
 
248,069
1,881,263
Winpak Ltd.
 
15,308
476,704
WSP Global, Inc.
 
49,153
7,458,374
TOTAL CANADA
 
 
855,531,058
Chile - 0.2%
 
 
 
Aguas Andinas SA
 
1,231,808
351,560
Antofagasta PLC
 
158,064
4,364,946
Banco de Chile
 
18,091,187
2,006,887
Banco de Credito e Inversiones
 
31,465
917,714
Banco Itau Chile SA
 
31,867
335,250
Banco Santander Chile
 
26,949,011
1,221,063
CAP SA
 
35,397
253,094
Cencosud SA
 
533,657
914,451
Colbun SA
 
3,371,419
432,959
Compania Cervecerias Unidas SA
 
60,464
370,953
Compania Sud Americana de Vapores SA
 
6,425,277
501,279
Empresa Nacional de Telecomunicaciones SA (ENTEL)
 
87,282
300,016
Empresas CMPC SA
 
465,397
919,111
Empresas COPEC SA
 
158,678
1,132,340
Enel Americas SA
 
8,408,538
788,259
Enel Chile SA
 
11,090,854
658,485
Falabella SA (a)
 
361,963
968,955
LATAM Airlines Group SA
 
74,419,791
1,006,940
Lundin Mining Corp.
 
264,715
3,022,787
Parque Arauco SA
 
282,654
425,431
Plaza SA
 
192,752
280,279
SMU SA
 
1,586,190
294,091
Vina Concha y Toro SA
 
257,866
343,803
TOTAL CHILE
 
 
21,810,653
China - 6.8%
 
 
 
360 Security Technology, Inc. (A Shares) (a)
 
286,500
335,231
361 Degrees International Ltd.
 
483,000
293,077
37 Interactive Entertainment Network Technology Group Co. Ltd. (A Shares)
 
64,000
147,017
3SBio, Inc. (d)
 
899,500
719,024
AAC Technology Holdings, Inc.
 
314,000
999,348
Advanced Micro-Fabrication Equipment, Inc., China (A Shares)
 
18,521
360,111
AECC Aviation Power Co. Ltd.
 
95,600
465,925
Agricultural Bank of China Ltd.:
 
 
 
 (A Shares)
 
3,267,400
1,983,301
 (H Shares)
 
9,400,000
4,191,563
Aier Eye Hospital Group Co. Ltd. (A Shares)
 
272,675
484,307
Air China Ltd.:
 
 
 
 (A Shares) (a)
 
448,800
456,393
 (H Shares) (a)
 
562,000
281,763
Airtac International Group
 
57,673
2,038,331
Akeso, Inc. (a)(d)
 
215,000
1,315,611
Alibaba Group Holding Ltd.
 
6,554,164
61,367,061
Alibaba Health Information Technology Ltd. (a)(b)
 
2,506,000
935,437
Aluminum Corp. of China Ltd. (H Shares)
 
2,168,000
1,437,848
ANE (Cayman), Inc. (a)(b)
 
444,500
296,081
Anhui Conch Cement Co. Ltd. (H Shares)
 
689,500
1,599,685
Anhui Expressway Co. Ltd. (H Shares)
 
242,000
266,392
Anhui Gujing Distillery Co. Ltd. (B Shares)
 
91,137
1,493,835
Anhui Yingjia Distillery Co. Ltd. (A Shares)
 
25,900
253,257
Anta Sports Products Ltd.
 
517,200
5,855,217
Ascentage Pharma Group International (a)(b)(d)
 
118,000
268,062
Autohome, Inc. ADR Class A
 
30,107
773,750
AviChina Industry & Technology Co. Ltd. (H Shares)
 
1,376,000
591,779
Baidu, Inc. Class A (a)
 
910,668
11,798,238
Bairong, Inc. (a)(d)
 
150,500
188,301
Bank of Beijing Co. Ltd. (A Shares)
 
563,900
434,100
Bank of Chengdu Co. Ltd. (A Shares)
 
151,900
309,907
Bank of China Ltd.:
 
 
 
 (A Shares)
 
3,843,800
2,432,098
 (H Shares)
 
27,543,000
12,352,773
Bank of Communications Co. Ltd.:
 
 
 
 (A Shares)
 
780,000
739,857
 (H Shares)
 
3,738,000
2,691,581
Bank of Hangzhou Co. Ltd. (A Shares)
 
220,400
392,434
Bank of Jiangsu Co. Ltd. (A Shares)
 
508,810
567,248
Bank of Nanjing Co. Ltd. (A Shares)
 
306,100
393,743
Bank of Ningbo Co. Ltd. (A Shares)
 
180,750
570,736
Bank of Shanghai Co. Ltd. (A Shares)
 
411,700
414,791
Baoshan Iron & Steel Co. Ltd. (A Shares)
 
531,900
509,401
BeiGene Ltd. (a)
 
279,936
3,320,769
Beijing Capital International Airport Co. Ltd. (H Shares) (a)
 
986,000
313,752
Beijing Enterprises Holdings Ltd.
 
235,000
752,364
Beijing Enterprises Water Group Ltd.
 
2,172,000
547,802
Beijing Kingsoft Office Software, Inc. (A Shares)
 
12,660
536,248
Beijing New Building Materials PLC (A Shares)
 
65,700
296,698
Beijing Tiantan Biological Products Corp. Ltd. (A Shares)
 
70,000
277,207
Beijing Tongrentang Co. Ltd. (A Shares)
 
52,800
307,915
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. (A Shares)
 
24,900
233,935
Beijing-Shanghai High Speed Railway Co. Ltd. (A Shares)
 
1,225,800
859,208
Bilibili, Inc. Class Z (a)(b)
 
91,031
1,155,928
BOC Aviation Ltd. Class A (d)
 
89,300
710,269
BOC Hong Kong (Holdings) Ltd.
 
1,483,500
4,547,066
BOE Technology Group Co. Ltd. (A Shares)
 
1,055,300
633,458
Bosideng International Holdings Ltd.
 
1,704,000
986,391
Brilliance China Automotive Holdings Ltd.
 
1,260,000
1,046,286
BYD Co. Ltd.:
 
 
 
 (A Shares)
 
118,000
3,542,797
 (H Shares)
 
342,500
9,388,810
BYD Electronic International Co. Ltd.
 
341,000
1,148,756
C&D International Investment Group Ltd.
 
316,637
627,232
Cambricon Technologies Corp. Ltd. (A Shares) (a)
 
11,040
254,770
CGN Mining Co. Ltd. (a)(b)
 
1,205,000
310,611
CGN New Energy Holdings Co. Ltd. (b)(d)
 
1,260,000
375,279
CGN Power Co. Ltd. (H Shares) (d)
 
5,258,000
1,763,050
Changchun High & New Technology Industry Group, Inc. (A Shares)
 
16,700
259,639
Chaozhou Three-Circle Group Co. (A Shares)
 
85,900
329,777
China BlueChemical Ltd. (H Shares)
 
1,026,000
325,715
China Cinda Asset Management Co. Ltd. (H Shares)
 
4,966,000
447,520
China CITIC Bank Corp. Ltd. (H Shares)
 
3,672,000
2,148,243
China Coal Energy Co. Ltd. (H Shares)
 
872,000
878,400
China Communications Services Corp. Ltd. (H Shares)
 
1,200,000
573,656
China Conch Venture Holdings Ltd.
 
686,000
500,379
China Construction Bank Corp.:
 
 
 
 (A Shares)
 
2,126,500
2,088,232
 (H Shares)
 
35,635,000
23,055,527
China CSSC Holdings Ltd. (A Shares)
 
122,800
617,049
China Datang Corp. Renewable Power Co. Ltd.
 
1,550,000
329,884
China Eastern Airlines Corp. Ltd. (A Shares) (a)
 
649,700
343,736
China Education Group Holdings Ltd.
 
563,724
318,270
China Energy Engineering Corp. Ltd. (A Shares)
 
845,400
256,352
China Everbright Bank Co. Ltd.:
 
 
 
 (A Shares)
 
959,800
417,360
 (H Shares)
 
1,648,000
499,272
China Everbright International Ltd.
 
1,853,370
751,518
China Everbright Ltd.
 
674,000
359,389
China Feihe Ltd. (d)
 
1,804,000
986,546
China Galaxy Securities Co. Ltd. (H Shares)
 
2,073,000
1,122,876
China Gas Holdings Ltd.
 
1,194,400
1,118,354
China Hongqiao Group Ltd. (b)
 
1,008,000
1,390,919
China Huishan Dairy Holdings Co. Ltd. (a)(c)
 
51,000
0
China International Capital Corp. Ltd. (H Shares) (d)
 
962,800
1,160,990
China Jinmao Holdings Group Ltd. (b)
 
3,234,356
274,071
China Jushi Co. Ltd. (A Shares)
 
182,530
300,034
China Liansu Group Holdings Ltd.
 
590,000
247,320
China Life Insurance Co. Ltd. (H Shares)
 
3,242,000
4,269,465
China Literature Ltd. (a)(d)
 
179,800
642,255
China Longyuan Power Grid Corp. Ltd. (H Shares)
 
1,490,000
1,043,795
China Medical System Holdings Ltd.
 
609,000
543,745
China Mengniu Dairy Co. Ltd.
 
1,305,000
2,703,279
China Merchants Bank Co. Ltd.:
 
 
 
 (A Shares)
 
328,800
1,551,407
 (H Shares)
 
1,757,000
7,609,317
China Merchants Energy Shipping Co. Ltd. (A Shares)
 
226,600
266,536
China Merchants Holdings International Co. Ltd.
 
554,954
732,881
China Merchants Securities Co. Ltd. (A Shares)
 
214,460
431,980
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares)
 
294,400
342,993
China Minsheng Banking Corp. Ltd.:
 
 
 
 (A Shares)
 
1,483,200
808,736
 (H Shares)
 
1,696,000
620,535
China National Building Materials Co. Ltd. (H Shares)
 
1,911,350
739,574
China National Chemical Engineering Co. Ltd. (A Shares)
 
209,300
198,761
China National Nuclear Power Co. Ltd. (A Shares)
 
428,900
546,817
China Nonferrous Mining Co. Ltd.
 
581,000
525,195
China Northern Rare Earth Group High-Tech Co. Ltd.
 
118,700
315,456
China Oilfield Services Ltd. (H Shares)
 
754,000
806,257
China Overseas Grand Oceans Group Ltd.
 
895,034
192,255
China Overseas Land and Investment Ltd.
 
1,596,000
2,934,841
China Overseas Property Holdings Ltd. (b)
 
600,000
364,941
China Pacific Insurance (Group) Co. Ltd. (H Shares)
 
1,425,600
3,123,602
China Petroleum & Chemical Corp.:
 
 
 
 (A Shares)
 
1,216,900
1,064,173
 (H Shares)
 
9,152,000
5,462,847
China Power International Development Ltd.
 
2,231,042
900,306
China Railway Group Ltd.:
 
 
 
 (A Shares)
 
392,200
354,256
 (H Shares)
 
1,940,000
957,310
China Resource Gas Group Ltd.
 
388,500
1,221,045
China Resources Beer Holdings Co. Ltd.
 
664,666
3,029,589
China Resources Cement Holdings Ltd.
 
1,704,000
287,602
China Resources Land Ltd.
 
1,304,500
4,690,770
China Resources Medical Holdin
 
545,000
287,097
China Resources Microelectronics Ltd. (A Shares)
 
45,462
228,275
China Resources Mixc Lifestyle Services Ltd. (d)
 
304,800
1,072,824
China Resources Pharmaceutical Group Ltd. (d)
 
829,500
536,406
China Resources Power Holdings Co. Ltd.
 
828,000
2,059,117
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares)
 
37,300
308,665
China Risun Group Ltd. Class H (b)
 
735,000
295,228
China Ruyi Holdings Ltd. (a)(b)
 
2,549,600
638,605
China Shenhua Energy Co. Ltd.:
 
 
 
 (A Shares)
 
441,400
2,424,545
 (H Shares)
 
982,500
4,077,838
China Southern Airlines Ltd. (A Shares) (a)
 
373,300
291,607
China State Construction Engineering Corp. Ltd. (A Shares)
 
1,013,100
748,344
China State Construction International Holdings Ltd.
 
869,750
917,676
China Taiping Insurance Group Ltd.
 
714,800
653,553
China Three Gorges Renewables Group Co. Ltd. (A Shares)
 
843,100
545,181
China Tobacco International Co. Ltd.
 
235,000
359,958
China Tourism Group Duty Free Corp. Ltd. (A Shares)
 
88,600
909,080
China Tower Corp. Ltd. (H Shares) (d)
 
18,268,000
2,138,440
China Traditional Chinese Medicine Holdings Co. Ltd.
 
1,294,000
704,615
China Travel International Investment HK Ltd.
 
1,646,000
263,915
China United Network Communications Ltd. (A Shares)
 
887,700
572,506
China Vanke Co. Ltd. (H Shares) (b)
 
1,385,600
812,636
China Water Affairs Group Ltd.
 
504,000
313,014
China Yangtze Power Co. Ltd. (A Shares)
 
573,200
2,039,438
China Zheshang Bank Co. Ltd.
 
833,270
344,513
ChinaSoft International Ltd.
 
1,104,000
663,864
Chongqing Changan Automobile Co. Ltd. (A Shares)
 
217,082
439,056
Chongqing Rural Commercial Bank Co. Ltd. (A Shares)
 
444,600
284,691
Chongqing Zhifei Biological Products Co. Ltd. (A Shares)
 
58,000
280,138
Chow Tai Fook Jewellery Group Ltd.
 
854,000
1,161,994
Cimc Enric Holdings Ltd.
 
434,000
429,387
CITIC 1616 Holdings Ltd.
 
952,000
322,854
CITIC Pacific Ltd.
 
2,419,000
2,289,347
CITIC Securities Co. Ltd. (H Shares)
 
1,176,350
1,872,885
Cloud Music, Inc. (a)(b)(d)
 
28,550
353,169
Cmoc Group Ltd. (H Shares)
 
2,178,000
2,043,421
CNPC Capital Co. Ltd. (A Shares) (a)
 
317,200
256,197
COFCO Meat Holdings Ltd. (a)
 
1,849,000
419,472
Contemporary Amperex Technology Co. Ltd.
 
105,640
2,954,770
COSCO Shipping Energy Transportation Co. Ltd. (A Shares)
 
369,000
812,007
COSCO SHIPPING Holdings Co. Ltd. (H Shares)
 
1,636,100
2,116,841
Cosco Shipping Ports Ltd.
 
635,086
389,726
Country Garden Holdings Co. Ltd. (a)(b)
 
5,345,081
339,945
Country Garden Services Holdings Co. Ltd.
 
959,000
639,788
CRRC Corp. Ltd. (A Shares)
 
1,586,000
1,527,126
CSC Financial Co. Ltd. (A Shares)
 
115,000
353,028
CSG Holding Co. Ltd. (B Shares)
 
1,114,034
337,638
CSPC Pharmaceutical Group Ltd.
 
3,695,600
3,034,576
CT Environmental Group Ltd. (a)(c)
 
26,000
0
Daqin Railway Co. Ltd. (A Shares)
 
421,300
399,397
Daqo New Energy Corp. ADR (a)
 
20,838
400,090
Dongfang Electric Corp. Ltd. (A Shares)
 
126,200
293,241
Dongfeng Motor Group Co. Ltd. (H Shares)
 
1,042,000
377,874
Dongyue Group Co. Ltd.
 
683,000
602,240
East Buy Holding Ltd. (a)(b)(d)
 
196,000
414,384
East Money Information Co. Ltd. (A Shares)
 
467,304
838,262
Eastroc Beverage Group Co. Ltd. (a)
 
10,000
293,443
ENN Energy Holdings Ltd.
 
327,300
2,788,725
ENN Natural Gas Co. Ltd. (A Shares)
 
81,700
203,555
ESR Group Ltd. (d)
 
729,200
799,109
Eve Energy Co. Ltd. (A shares)
 
67,900
346,302
Everbright Securities Co. Ltd. (A Shares)
 
156,600
356,552
Everest Medicines Ltd. (a)(b)(d)
 
81,500
253,088
Far East Horizon Ltd.
 
872,000
647,293
FinVolution Group ADR
 
67,829
323,544
Flat Glass Group Co. Ltd. (A Shares)
 
158,700
580,792
Focus Media Information Technology Co. Ltd. (A Shares)
 
561,200
502,348
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares)
 
119,205
643,821
Fosun International Ltd.
 
1,260,000
743,390
Founder Securities Co. Ltd. (A Shares)
 
238,500
294,692
Foxconn Industrial Internet Co. Ltd. (A Shares)
 
322,500
1,065,612
Fu Shou Yuan International Group Ltd.
 
850,000
575,435
Fufeng Group Ltd.
 
675,000
492,515
Fuyao Glass Industries Group Co. Ltd. (H Shares) (d)
 
312,000
1,867,964
Ganfeng Lithium Group Co. Ltd. (A Shares)
 
114,760
556,405
GCL Technology Holdings Ltd.
 
8,960,000
1,327,092
GD Power Development Co. Ltd. (A Shares)
 
544,600
384,863
GDS Holdings Ltd. Class A (a)
 
452,384
459,531
Geely Automobile Holdings Ltd.
 
2,513,000
3,024,543
Genertec Universal Medical Group Co. Ltd. (d)
 
790,500
474,615
Genscript Biotech Corp. (a)
 
498,000
734,386
GF Securities Co. Ltd. (H Shares)
 
843,600
840,429
Giant Biogene Holding Co. Ltd. (d)
 
145,200
884,665
Gigadevice Semiconductor Beijing, Inc. (A Shares)
 
25,144
271,232
GoerTek, Inc. (A Shares)
 
122,600
266,222
Golden Solar New Energy Technology Holdings Ltd. (a)(b)
 
432,000
264,442
Goneo Group Co. Ltd. (A Shares)
 
17,400
286,580
Great Wall Motor Co. Ltd.:
 
 
 
 (A Shares)
 
123,500
445,453
 (H Shares)
 
811,500
1,226,292
Gree Electric Appliances, Inc. of Zhuhai (A Shares)
 
75,000
435,119
Greentown China Holdings Ltd.
 
584,500
512,499
Greentown Management Holdings Co. Ltd. (d)
 
431,000
368,413
Greentown Service Group Co. Ltd.
 
880,000
399,804
Guangdong Haid Group Co. Ltd. (A Shares)
 
62,600
430,746
Guangdong Investment Ltd.
 
1,288,000
672,807
Guanghui Energy Co. Ltd. (A Shares)
 
225,600
229,342
Guangzhou Automobile Group Co. Ltd.
 
242,900
293,528
Guangzhou Automobile Group Co. Ltd. (H Shares)
 
1,075,600
444,357
Guangzhou Baiyunshan Pharma Health (A Shares)
 
65,900
291,151
Guosen Securities Co. Ltd. (A Shares)
 
252,200
311,834
Guotai Junan Securities Co. Ltd. (A Shares)
 
210,600
398,630
H World Group Ltd. ADR
 
84,897
3,116,569
Haidilao International Holding Ltd. (d)
 
708,000
1,597,395
Haier Smart Home Co. Ltd.
 
745,200
2,760,239
Haier Smart Home Co. Ltd. (A Shares)
 
370,300
1,540,566
Hainan Airlines Co. Ltd. (A Shares) (a)
 
1,967,400
371,137
Hainan Airport Infrastructure Co. Ltd. (A Shares) (a)
 
529,500
255,376
Haitian International Holdings Ltd.
 
283,000
921,688
Haitong Securities Co. Ltd. (H Shares)
 
1,922,000
917,989
Hangzhou First Applied Material Co. Ltd. (A Shares)
 
59,900
223,980
Hangzhou Steam Turbine Power G
 
301,547
271,444
Hansoh Pharmaceutical Group Co. Ltd. (d)
 
492,000
1,087,170
Hello Group, Inc. ADR
 
68,374
398,620
Henan Shuanghui Investment & Development Co. Ltd. (A Shares)
 
108,500
403,453
Hengan International Group Co. Ltd.
 
307,000
1,030,652
Hengli Petrochemical Co. Ltd. (A Shares) (a)
 
227,120
484,917
Hithink RoyalFlush Information Network Co. Ltd. (A Shares)
 
12,300
203,999
Hopson Development Holdings Ltd.
 
651,750
309,714
Hoshine Silicon Industry Co. Ltd. (A Shares)
 
37,700
251,094
Hua Hong Semiconductor Ltd. (b)(d)
 
274,000
539,973
Huadian Power International Corp. Ltd. (A Shares)
 
292,900
273,027
Huadong Medicine Co. Ltd. (A Shares)
 
63,100
286,639
Huaibei Mining Holdings Co. Ltd. (A Shares)
 
84,100
223,725
Huaneng Power International, Inc.:
 
 
 
 (A Shares) (a)
 
227,600
293,703
 (H Shares) (a)
 
1,790,000
1,139,338
Huatai Securities Co. Ltd. (H Shares) (d)
 
861,800
1,019,182
Huaxia Bank Co. Ltd. (A Shares)
 
405,600
375,397
Huayu Automotive Systems Co. Ltd. (A Shares)
 
127,500
289,496
Huizhou Desay SV Automotive Co. Ltd.
 
17,000
293,616
Hundsun Technologies, Inc. (A Shares)
 
98,200
277,436
HUTCHMED China Ltd. (a)
 
245,820
939,839
Hygeia Healthcare Holdings Co. (b)(d)
 
156,800
647,182
Hygon Information Technology Co. Ltd. (A Shares)
 
47,862
514,714
IEIT Systems Co. Ltd. (A Shares)
 
46,100
257,087
iFlytek Co. Ltd. (A Shares)
 
66,400
410,492
IMEIK Technology Development Co. Ltd. (A Shares)
 
9,520
281,610
Industrial & Commercial Bank of China Ltd.:
 
 
 
 (A Shares)
 
4,335,600
3,247,623
 (H Shares)
 
21,973,000
11,782,550
Industrial Bank Co. Ltd. (A Shares)
 
495,000
1,149,778
Industrial Securities Co. Ltd. (A Shares)
 
391,200
300,563
Inner Mongoli Yili Industries Co. Ltd. (A Shares)
 
177,100
697,933
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) (a)
 
1,528,100
336,477
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)
 
541,773
1,052,948
InnoCare Pharma Ltd. (a)(b)(d)
 
366,000
215,188
Innovent Biologics, Inc. (a)(d)
 
501,500
2,427,744
iQIYI, Inc. ADR (a)
 
198,854
964,442
JA Solar Technology Co. Ltd. (A Shares)
 
113,016
221,639
JCET Group Co. Ltd. (A Shares)
 
73,800
260,187
JD Health International, Inc. (a)(d)
 
468,900
1,599,336
JD Logistics, Inc. (a)(d)
 
895,000
968,681
JD.com, Inc. Class A
 
945,252
13,619,543
Jiangsu Eastern Shenghong Co. Ltd.
 
256,000
349,853
Jiangsu Expressway Co. Ltd. (H Shares)
 
564,000
553,124
Jiangsu Hengli Hydraulic Co. Ltd.
 
40,236
283,260
Jiangsu Hengrui Medicine Co. Ltd. (A Shares)
 
163,924
1,040,966
Jiangsu King's Luck Brewery JSC Ltd. (A Shares)
 
34,900
275,998
Jiangsu Yanghe Brewery JSC Ltd. (A Shares)
 
45,800
599,545
Jiangsu Zhongtian Technology Co. Ltd. (A Shares)
 
156,000
291,073
Jiangxi Copper Co. Ltd. (H Shares)
 
561,000
1,142,550
Jinan Acetate Chemical Co. Ltd.
 
18,503
461,184
Jinko Solar Co. Ltd. (A Shares)
 
247,479
257,229
JinkoSolar Holdings Co. Ltd. ADR (b)
 
18,344
442,457
Jinxin Fertility Group Ltd. (d)
 
1,215,500
409,921
Jiumaojiu International Holdings Ltd. (d)
 
459,000
288,279
JOYY, Inc. ADR
 
17,022
555,258
Kanzhun Ltd. ADR
 
91,504
1,810,864
KE Holdings, Inc. ADR
 
266,726
4,032,897
Kerry Logistics Network Ltd.
 
173,000
161,920
Keymed Biosciences, Inc. (a)(b)(d)
 
80,000
343,354
Kingboard Chemical Holdings Ltd.
 
320,000
703,288
Kingdee International Software Group Co. Ltd. (a)
 
1,223,000
1,290,297
Kingsoft Corp. Ltd.
 
411,800
1,337,932
Kuaishou Technology Class B (a)(d)
 
951,700
6,672,092
Kunlun Energy Co. Ltd.
 
1,670,000
1,618,863
Kweichow Moutai Co. Ltd. (A Shares)
 
29,200
6,846,413
Lb Group Co. Ltd. (A Shares)
 
105,500
305,012
Legend Holdings Corp. (H Shares) (d)
 
430,700
304,202
Lenovo Group Ltd.
 
3,290,000
3,700,459
Lens Technology Co. Ltd. (A Shares)
 
202,300
397,667
Li Auto, Inc. Class A (a)
 
463,630
6,074,434
Li Ning Co. Ltd.
 
967,000
2,531,479
Lifetech Scientific Corp. (a)(b)
 
2,080,000
456,155
Longfor Properties Co. Ltd. (d)
 
820,586
1,215,407
LONGi Green Energy Technology Co. Ltd.
 
206,456
516,982
Lufax Holding Ltd. ADR
 
91,056
399,736
Luxshare Precision Industry Co. Ltd. (A Shares)
 
186,178
746,295
Luye Pharma Group Ltd. (a)(b)(d)
 
1,057,000
372,442
Luzhou Laojiao Co. Ltd. (A Shares)
 
38,700
990,604
Mango Excellent Media Co. Ltd. (A Shares)
 
71,979
231,752
Maoyan Entertainment (a)(d)
 
200,400
247,768
Maxscend Microelectronics Co. Ltd. (A Shares)
 
12,288
153,108
Meitu, Inc. (b)(d)
 
1,285,500
527,469
Meituan Class B (a)(d)
 
2,046,042
27,937,744
Metallurgical Corp. China Ltd. (A Shares)
 
614,800
276,916
Microport Scientific Corp. (a)(b)
 
393,272
312,768
Midea Group Co. Ltd. (A Shares)
 
85,500
822,319
MINISO Group Holding Ltd.
 
159,828
901,598
Minth Group Ltd.
 
356,000
606,840
MMG Ltd. (a)(b)
 
1,300,000
589,452
Montage Technology Co. Ltd. (A Shares)
 
39,674
275,545
Muyuan Foodstuff Co. Ltd. (A Shares)
 
139,366
838,034
NARI Technology Co. Ltd. (A Shares)
 
211,330
683,522
National Silicon Industry Group Co. Ltd. (A Shares) (a)
 
114,848
209,599
NAURA Technology Group Co. Ltd.
 
14,700
643,710
NetDragon WebSoft, Inc.
 
170,500
238,833
NetEase, Inc.
 
779,605
14,613,416
New China Life Insurance Co. Ltd. (H Shares)
 
527,300
1,011,235
New Hope Liuhe Co. Ltd. (A Shares) (a)
 
229,900
282,655
New Horizon Health Ltd. (a)(b)(c)(d)
 
119,500
216,003
New Oriental Education & Technology Group, Inc. (a)
 
602,050
4,783,869
Nexteer Auto Group Ltd.
 
466,000
245,632
Ningbo Tuopu Group Co. Ltd. (A Shares)
 
34,300
295,154
Ningxia Baofeng Energy Group Co. Ltd.
 
229,200
523,933
NIO, Inc. sponsored ADR (a)(b)
 
555,922
2,623,952
Noah Holdings Ltd. sponsored ADR
 
22,669
284,949
Nongfu Spring Co. Ltd. (H Shares) (d)
 
816,800
4,798,635
Oppein Home Group, Inc. (A Shares)
 
22,900
196,645
Orient Securities Co. Ltd. (A Shares)
 
317,884
365,225
PDD Holdings, Inc. ADR (a)
 
240,797
30,142,968
People's Insurance Co. of China Group Ltd. (H Shares)
 
4,222,000
1,385,767
PetroChina Co. Ltd. (H Shares)
 
9,310,000
8,674,514
PICC Property & Casualty Co. Ltd. (H Shares)
 
2,825,000
3,509,733
Ping An Bank Co. Ltd. (A Shares)
 
508,200
755,357
Ping An Healthcare and Technology Co. Ltd. (a)(d)
 
312,200
441,403
Ping An Insurance Group Co. of China Ltd.:
 
 
 
 (A Shares)
 
494,790
2,812,664
 (H Shares)
 
2,368,500
10,734,239
Poly Developments & Holdings (A Shares)
 
346,100
424,657
Poly Property Development Co. Ltd. (H Shares)
 
81,200
329,878
Poly Property Group Co. Ltd.
 
1,494,327
272,700
Pop Mart International Group Ltd. (d)
 
251,600
1,076,705
Postal Savings Bank of China Co. Ltd. (H Shares) (d)
 
4,041,000
2,093,855
Power Construction Corp. of China Ltd. (A Shares)
 
552,200
386,386
Prosus NV
 
588,098
19,677,730
Qifu Technology, Inc. ADR
 
52,023
951,501
Qinghai Salt Lake Potash Co. Ltd. Class A (a)
 
194,400
444,096
RLX Technology, Inc. ADR
 
245,362
476,002
Rongsheng Petrochemical Co. Ltd. (A Shares)
 
309,150
477,505
SAIC Motor Corp. Ltd. (A Shares)
 
197,300
403,999
Sailun Group Co. Ltd. A Shares
 
112,600
257,351
Sanan Optoelectronics Co. Ltd. (A Shares)
 
173,300
298,628
Sany Heavy Equipment International Holdings Co. Ltd. (b)
 
519,000
364,692
Sany Heavy Industry Co. Ltd. (A Shares)
 
260,300
584,916
Satellite Chemical Co. Ltd. (A Shares) (a)
 
122,219
324,618
SciClone Pharmaceuticals Holdings Ltd. (b)(d)
 
156,000
356,401
SDIC Capital Co. Ltd.
 
305,200
268,933
SDIC Power Holdings Co. Ltd. (A Shares)
 
212,100
465,781
Seres Group Co. Ltd. (A Shares) (a)
 
37,600
468,656
SF Holding Co. Ltd. (A Shares)
 
136,400
680,393
Shaanxi Coal Industry Co. Ltd. (A Shares)
 
233,500
790,818
Shandong Gold Mining Co. Ltd. (A Shares)
 
253,360
1,001,826
Shandong Hualu Hengsheng Chemical Co. Ltd. (A Shares)
 
88,200
362,035
Shandong Nanshan Aluminum Co. Ltd. (A Shares)
 
680,100
335,124
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)
 
1,132,800
768,206
Shanghai Baosight Software Co. Ltd.
 
630,570
1,347,074
Shanghai Electric Group Co. Ltd. (A Shares) (a)
 
348,500
206,851
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares)
 
384,000
602,828
Shanghai Industrial Holdings Ltd.
 
305,000
425,822
Shanghai International Airport Co. Ltd. (A Shares) (a)
 
61,400
318,498
Shanghai MicroPort MedBot (Group) Co. Ltd. (H Shares) (a)(b)
 
128,500
241,634
Shanghai Pharmaceuticals Holding Co. Ltd. (H Shares)
 
455,500
647,293
Shanghai Pudong Development Bank Co. Ltd. (A Shares)
 
726,800
770,495
Shanghai RAAS Blood Products Co. Ltd. (A Shares)
 
313,400
309,946
Shanghai Rural Commercial Bank Co. Ltd. (A Shares)
 
364,600
340,094
Shanghai United Imaging Healthcare Co. Ltd. (A Shares) (a)
 
22,019
402,319
Shangri-La Asia Ltd.
 
612,000
426,864
Shanxi Lu'an Environmental Energy Development Co. Ltd. (A Shares)
 
85,800
250,178
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares)
 
31,100
1,120,125
Shanxi Xishan Coal & Electricity Power Co. Ltd. (A Shares)
 
162,000
234,411
Shengyi Technology Co. Ltd.
 
115,400
307,729
Shenwan Hongyuan Group Co. Ltd. (A Shares)
 
685,300
443,486
Shenzhen Inovance Technology Co. Ltd. (A Shares)
 
40,900
335,419
Shenzhen International Holdings Ltd.
 
686,456
549,026
Shenzhen Investment Ltd.
 
2,012,810
255,863
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)
 
29,000
1,217,705
Shenzhen New Industries Biomedical Engineering Co. Ltd.
 
25,100
244,646
Shenzhen Transsion Holdings Co. Ltd. (A Shares)
 
20,504
406,081
Shenzhou International Group Holdings Ltd.
 
336,700
3,309,496
Shoucheng Holdings Ltd. (b)
 
1,344,000
241,165
Shougang Fushan Resources Group Ltd.
 
1,048,335
399,368
Sichuan Chuantou Energy Co. Ltd. (A Shares)
 
158,900
364,624
Sichuan Road & Bridge (Group) Co. Ltd. (A Shares)
 
199,160
199,279
Silergy Corp.
 
134,000
1,776,507
Simcere Pharmaceutical Group Ltd. (b)(d)
 
520,000
356,943
Sinopec Engineering Group Co. Ltd. (H Shares)
 
742,000
477,926
Sinopec Kantons Holdings Ltd.
 
716,000
366,676
Sinopharm Group Co. Ltd. (H Shares)
 
580,400
1,465,720
Sinotruk Hong Kong Ltd.
 
295,000
734,170
SITC International Holdings Co. Ltd.
 
568,000
1,231,762
Smoore International Holdings Ltd. (b)(d)
 
836,000
728,085
Spring Airlines Co. Ltd. (A Shares) (a)
 
36,200
283,164
Sun Art Retail Group Ltd.
 
1,302,500
268,847
Sungrow Power Supply Co. Ltd. (A Shares)
 
42,000
596,479
Sunny Optical Technology Group Co. Ltd.
 
296,400
1,433,901
TAL Education Group ADR (a)
 
180,342
2,171,318
TBEA Co. Ltd. (A Shares)
 
186,340
362,851
TCL Technology Group Corp. (A Shares)
 
681,110
447,774
TCL Zhonghuan Renewable Energy Technology Co. Ltd. (A Shares)
 
136,025
195,230
Tencent Holdings Ltd.
 
2,663,125
116,866,448
Tencent Music Entertainment Group ADR (a)
 
305,295
3,831,452
TI Fluid Systems PLC (d)
 
159,389
276,042
Tianli Education International Holdings Ltd.
 
580,000
412,542
Tianneng Power International Ltd. (b)
 
448,000
344,220
Tianqi Lithium Corp. (A Shares)
 
45,400
246,224
Tingyi (Cayman Islands) Holding Corp.
 
890,000
982,291
Tong Ren Tang Technologies Co. Ltd. (H Shares)
 
470,000
322,846
Tongcheng Travel Holdings Ltd.
 
525,600
1,383,316
Tongling Nonferrous Metals Group Co. Ltd. (A Shares)
 
608,900
337,629
Tongwei Co. Ltd. (A Shares)
 
125,100
373,891
Topsports International Holdings Ltd. (d)
 
866,000
601,415
Towngas Smart Energy Co. Ltd.
 
588,892
226,867
TravelSky Technology Ltd. (H Shares)
 
424,000
550,790
Trina Solar Co. Ltd. (A Shares)
 
72,812
213,067
Trip.com Group Ltd. (a)(b)
 
222,282
10,826,769
Tsingtao Brewery Co. Ltd. (H Shares)
 
296,000
2,133,095
Tuya, Inc. ADR (a)
 
118,340
207,095
Unigroup Guoxin Microelectronics Co. Ltd. (a)
 
31,759
254,417
Unisplendour Corp. Ltd. (A Shares) (a)
 
114,460
327,600
Vipshop Holdings Ltd. ADR
 
142,934
2,149,727
VSTECS Holdings Ltd.
 
508,000
323,479
Wanhua Chemical Group Co. Ltd. (A Shares)
 
86,100
1,054,839
Want Want China Holdings Ltd.
 
2,022,000
1,153,251
Weibo Corp. sponsored ADR (b)
 
40,974
353,196
Weichai Power Co. Ltd. (H Shares)
 
989,000
2,020,886
Weimob, Inc. (a)(b)(d)
 
1,196,000
209,455
Wens Foodstuffs Group Co. Ltd. (A Shares)
 
191,300
502,656
Western Mining Co. Ltd. (A Shares)
 
106,400
293,396
Wharf Holdings Ltd.
 
439,000
1,412,420
Will Semiconductor Ltd.
 
32,795
458,270
Wilmar International Ltd.
 
770,100
1,810,177
Wingtech Technology Co. Ltd. (A Shares) (a)
 
49,700
214,861
Wuliangye Yibin Co. Ltd. (A Shares)
 
94,500
1,954,369
WUS Printed Circuit Kunshan Co. Ltd. (A Shares)
 
60,600
275,607
WuXi AppTec Co. Ltd.
 
30,316
182,174
WuXi AppTec Co. Ltd. (H Shares) (d)
 
193,197
869,597
Wuxi Biologics (Cayman), Inc. (a)(d)
 
1,558,500
2,699,847
XCMG Construction Machinery Co. Ltd. (A Shares)
 
372,600
360,595
XD, Inc. (a)
 
139,600
260,774
Xiaomi Corp. Class B (a)(d)
 
6,210,600
13,538,658
Xinjiang Daqo New Energy Co. Ltd. (A Shares) (a)
 
53,131
179,067
Xinte Energy Co. Ltd. (H Shares) (a)(b)
 
193,200
215,693
Xinyi Solar Holdings Ltd.
 
1,999,379
1,375,705
XPeng, Inc. Class A (a)
 
473,168
1,918,299
XTEP International Holdings Ltd.
 
671,219
424,225
Yadea Group Holdings Ltd. (d)
 
526,000
1,011,851
Yangzijiang Shipbuilding Holdings Ltd.
 
1,040,500
1,335,599
Yankuang Energy Group Co. Ltd. (H Shares)
 
1,090,000
2,364,615
Yantai Changyu Pioneer Wine Co. Ltd. (B Shares)
 
312,200
360,274
Yihai International Holding Ltd.
 
232,000
478,192
Yihai Kerry Arawana Holdings Co. Ltd. (A Shares)
 
65,500
283,237
Yonyou Network Technology Co. Ltd. (A Shares)
 
151,059
241,673
YTO Express Group Co. Ltd. (A Shares)
 
166,400
364,023
Yuexiu Property Co. Ltd.
 
777,720
464,159
Yuexiu Transport Infrastructure Ltd.
 
478,000
237,108
Yum China Holdings, Inc.
 
165,223
6,032,292
Yunnan Aluminium Co. Ltd. (A Shares)
 
143,700
283,565
Yunnan Baiyao Group Co. Ltd. (A Shares)
 
67,840
535,263
Zai Lab Ltd. (a)(b)
 
414,310
665,925
Zangge Mining Co. Ltd. (Series A)
 
63,700
252,425
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares)
 
15,400
504,121
Zhaojin Mining Industry Co. Ltd. (H Shares)
 
565,500
910,699
Zhejiang Chint Electric Co. Ltd. (A Shares)
 
112,900
321,157
Zhejiang Dahua Technology Co. Ltd. (A Shares)
 
90,000
222,228
Zhejiang Expressway Co. Ltd. (H Shares)
 
748,160
489,170
Zhejiang Huayou Cobalt Co. Ltd. (A Shares)
 
68,500
267,935
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. (A Shares)
 
51,100
238,467
Zhejiang Juhua Co. Ltd. (A Shares)
 
88,500
288,715
Zhejiang Leapmotor Technology Co. Ltd. (H Shares) (a)(b)(d)
 
215,200
739,437
Zhejiang NHU Co. Ltd. (A Shares)
 
136,740
361,795
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares)
 
63,100
190,488
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) (a)
 
352,000
302,408
Zheshang Securities Co. Ltd.
 
187,400
291,181
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(d)
 
329,600
554,362
Zhongji Innolight Co. Ltd. (A Shares)
 
18,700
471,372
Zhongjin Gold Co. Ltd. (A Shares)
 
177,200
319,020
Zhongsheng Group Holdings Ltd. Class H
 
372,000
678,448
Zhongtai Securities Co. Ltd. (A Shares)
 
336,200
308,270
Zhongyu Energy Holdings Ltd. (a)(b)
 
438,000
273,194
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares)
 
262,900
942,238
Zijin Mining Group Co. Ltd. (H Shares)
 
2,756,000
6,012,135
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares)
 
250,100
293,141
ZTE Corp. (H Shares)
 
563,000
1,213,463
ZTO Express, Inc. sponsored ADR
 
174,102
3,654,401
TOTAL CHINA
 
 
838,402,263
Colombia - 0.0%
 
 
 
Bancolombia SA
 
106,214
915,124
Interconexion Electrica SA ESP
 
178,119
821,808
TOTAL COLOMBIA
 
 
1,736,932
Cyprus - 0.0%
 
 
 
Atalaya Mining PLC
 
53,318
296,141
Czech Republic - 0.0%
 
 
 
CEZ A/S
 
65,675
2,424,234
Komercni Banka A/S
 
33,217
1,225,421
MONETA Money Bank A/S (d)
 
175,776
709,243
TOTAL CZECH REPUBLIC
 
 
4,358,898
Denmark - 2.2%
 
 
 
A.P. Moller - Maersk A/S:
 
 
 
 Series A
 
1,047
1,492,097
 Series B
 
1,834
2,674,020
ALK-Abello A/S (a)
 
53,595
1,000,751
Alm. Brand A/S
 
355,978
618,857
Ambu A/S Series B (a)
 
77,626
1,250,097
Bavarian Nordic A/S (a)(b)
 
32,950
723,694
Better Collective A/S (a)(b)
 
15,825
424,330
Cadeler A/S (a)
 
79,943
379,978
Carlsberg A/S Series B
 
38,786
5,217,216
cBrain A/S
 
4,769
192,087
Cementir SpA
 
25,080
266,048
Chemometec A/S
 
6,579
281,464
Coloplast A/S Series B
 
50,550
6,094,570
D/S Norden A/S
 
10,007
422,966
Danske Bank A/S
 
275,557
7,964,417
Demant A/S (a)
 
40,449
1,946,951
DFDS A/S
 
15,781
483,666
DSV A/S
 
70,172
10,018,404
FLSmidth & Co. A/S
 
17,659
887,890
Genmab A/S (a)
 
26,654
7,399,953
GN Store Nord A/S (a)
 
54,955
1,498,723
H Lundbeck A/S
 
136,975
667,148
ISS A/S
 
62,637
1,175,861
Jyske Bank A/S (Reg.)
 
19,320
1,571,552
Matas A/S
 
16,930
273,733
Netcompany Group A/S (a)(d)
 
18,631
681,378
NKT A/S (a)
 
21,459
1,793,137
Novo Nordisk A/S Series B
 
1,313,378
168,430,629
Novonesis (NOVOZYMES) B Series B
 
149,514
8,313,346
ORSTED A/S (a)(d)
 
75,970
4,192,595
Pandora A/S
 
33,870
5,183,071
Per Aarsleff Holding A/S
 
7,952
373,200
Ringkjoebing Landbobank A/S
 
11,089
1,869,084
Rockwool International A/S Series B
 
3,695
1,213,885
Royal Unibrew A/S
 
20,454
1,545,266
Scandinavian Tobacco Group A/S (d)
 
26,958
435,099
Schouw & Co.
 
5,383
432,864
Spar Nord Bank A/S
 
31,574
560,199
Svitzer A/S
 
5,762
193,622
Sydbank A/S
 
23,067
1,176,965
Topdanmark A/S
 
19,707
822,241
Tryg A/S
 
140,276
2,779,869
Vestas Wind Systems A/S (a)
 
405,793
10,938,975
Zealand Pharma A/S (a)
 
21,570
1,953,642
TOTAL DENMARK
 
 
267,815,540
Egypt - 0.0%
 
 
 
Abou Kir Fertilizers & Chemical Industries
 
144,367
187,662
Centamin PLC
 
479,848
726,708
Commercial International Bank SAE
 
1,032,338
1,551,204
Eastern Co. SAE
 
509,747
234,366
EFG Holding SAE
 
560,643
173,407
Elsewedy Electric Co.
 
280,562
182,057
Ezz Steel Co. SAE (a)
 
115,674
138,156
Misr Fertilizers Production Co. SAE
 
183,891
161,217
Talaat Moustafa Group Holding
 
387,784
413,474
Telecom Egypt SAE
 
193,993
125,315
TOTAL EGYPT
 
 
3,893,566
Faroe Islands - 0.0%
 
 
 
Bakkafrost
 
20,650
1,262,218
Finland - 0.6%
 
 
 
Cargotec Corp. (B Shares)
 
15,747
1,243,585
Elisa Corp. (A Shares)
 
58,123
2,625,062
Fortum Corp.
 
181,321
2,395,601
Huhtamaki Oyj
 
39,449
1,513,915
Kemira Oyj
 
45,851
999,195
Kempower OYJ (a)(b)
 
8,982
184,331
Kesko Oyj
 
109,561
1,874,284
Kojamo OYJ
 
49,822
552,968
Kone OYJ (B Shares)
 
136,352
6,664,580
Konecranes Oyj
 
27,205
1,437,723
Mandatum Holding OY
 
171,288
795,539
Metsa Board OYJ (B Shares)
 
69,218
498,249
Metso Corp.
 
265,325
3,022,678
Neste OYJ
 
171,025
3,894,932
Nokia Corp.
 
2,156,028
7,837,920
Nokian Tyres PLC
 
51,938
454,512
Nordea Bank Abp (Helsinki Stock Exchange)
 
1,267,163
14,848,941
Orion Oyj (B Shares)
 
44,284
1,691,431
Outokumpu Oyj (A Shares)
 
152,935
621,023
Puuilo Oyj
 
34,960
381,301
Qt Group Oyj (a)(b)
 
7,933
615,062
Revenio Group Oyj
 
11,116
310,810
Sampo Oyj (A Shares)
 
181,375
7,339,924
Stora Enso Oyj (R Shares)
 
239,000
3,201,013
TietoEVRY Oyj
 
47,185
893,312
Tokmanni Group Corp.
 
23,122
351,383
UPM-Kymmene Corp.
 
216,624
7,610,483
Valmet Corp. (b)
 
64,187
1,607,019
Wartsila Corp.
 
191,001
3,538,598
TOTAL FINLAND
 
 
79,005,374
France - 5.8%
 
 
 
Abivax SA (a)
 
17,761
279,769
Accor SA
 
76,383
3,367,423
Adevinta ASA Class B (a)
 
134,440
1,372,417
Aeroports de Paris SA
 
14,237
1,815,650
Air France KLM (Reg.) (a)(b)
 
51,670
531,461
Air Liquide SA
 
210,760
41,220,149
Airbus Group NV
 
238,288
39,212,140
Alstom SA
 
117,099
1,846,425
ALTEN
 
12,535
1,480,873
Amundi SA (d)
 
23,650
1,659,483
Antin Infrastructure Partners SA
 
17,143
219,540
Arkema SA
 
24,682
2,556,358
AXA SA
 
726,043
25,135,586
Beneteau SA
 
19,723
257,211
bioMerieux SA
 
17,150
1,830,248
BNP Paribas SA
 
414,771
29,847,690
Bollore SA
 
286,108
1,862,540
Bouygues SA
 
76,706
2,833,197
Bureau Veritas SA
 
127,886
3,742,280
Capgemini SA
 
62,505
13,137,368
Carmila SA
 
31,199
524,738
Carrefour SA
 
230,511
3,877,938
Coface SA
 
47,936
739,223
Compagnie de St.-Gobain
 
183,020
14,473,699
Compagnie Generale des Etablissements Michelin SCA Series B
 
272,333
10,462,666
Compagnie Plastic Omnium SA
 
27,073
331,684
Covivio
 
21,868
1,093,597
Covivio rights (a)(e)
 
21,868
77,014
Credit Agricole SA
 
420,195
6,501,776
Danone SA
 
257,862
16,138,892
Dassault Aviation SA
 
8,422
1,808,377
Dassault Systemes SA
 
268,993
10,558,493
Derichebourg
 
60,843
259,077
Edenred SA
 
100,850
4,785,102
Eiffage SA
 
29,069
3,111,550
Elis SA
 
1,901
42,847
Elis SA
 
74,432
1,677,643
Engie SA
 
728,909
12,654,309
Eramet SA
 
4,423
431,193
Esker SA
 
2,662
496,587
EssilorLuxottica SA
 
118,297
25,350,309
Eurazeo SA
 
16,968
1,535,580
Eutelsat Communications (a)(b)
 
65,977
266,575
Forvia SE (a)
 
65,147
1,042,873
Gaztransport et Technigaz SA
 
14,592
2,040,008
Gecina SA
 
18,544
1,899,855
Getlink SE
 
144,789
2,472,301
Hermes International SCA
 
12,704
30,518,403
ICADE
 
16,212
432,536
ID Logistics Group (a)
 
1,311
484,088
Imerys SA
 
15,372
496,743
Interparfums SA
 
10,057
510,346
Ipsen SA
 
15,563
1,895,068
Ipsos SA
 
16,752
1,124,510
JCDecaux SA (a)
 
28,543
597,647
Kering SA
 
30,017
10,571,267
Klepierre SA
 
84,420
2,275,750
L'Oreal SA
 
96,690
45,366,414
La Francaise des Jeux SAEM (d)
 
44,008
1,665,391
Legrand SA
 
105,650
10,857,290
LVMH Moet Hennessy Louis Vuitton SE
 
111,069
91,236,112
Mercialys SA
 
46,698
506,335
Mersen SA
 
11,240
417,437
Metropole Television SA
 
23,120
327,173
Neoen SA (d)
 
31,275
959,913
Nexans SA
 
12,713
1,362,158
Nexity
 
21,184
238,284
Orange SA
 
749,541
8,342,604
Orpea (a)
 
32,805
448,122
Pernod Ricard SA
 
82,263
12,466,333
Peugeot Invest
 
2,904
327,890
Pluxee France SA
 
37,591
1,158,983
Publicis Groupe SA
 
91,932
10,144,399
Quadient SA
 
16,721
320,847
Remy Cointreau SA
 
9,659
916,347
Renault SA
 
77,175
3,849,561
Rexel SA
 
92,895
2,421,930
Rubis SCA
 
40,739
1,412,991
Safran SA
 
137,329
29,777,324
Sartorius Stedim Biotech
 
11,791
2,554,421
SCOR SE
 
62,693
2,049,999
SEB SA
 
10,427
1,237,400
Societe BIC SA
 
9,983
703,155
Societe Generale Series A
 
289,581
7,802,774
Sodexo SA
 
35,778
3,121,402
Soitec SA (a)
 
10,519
1,039,516
Sopra Steria Group
 
6,533
1,436,236
SPIE SA
 
57,061
2,081,408
Technip Energies NV
 
63,334
1,503,203
Teleperformance
 
23,191
2,115,582
Television Francaise 1 SA
 
28,368
259,754
Thales SA
 
38,280
6,452,639
TotalEnergies SE
 
871,976
63,304,343
Trigano SA
 
3,826
585,926
Ubisoft Entertainment SA (a)
 
39,932
944,784
Unibail-Rodamco-Westfield NV
 
47,368
3,967,253
Valeo SA
 
86,349
1,094,344
Vallourec SA (a)
 
65,967
1,145,056
Veolia Environnement SA
 
275,270
8,557,507
Verallia SA (d)
 
30,974
1,196,607
Vicat SA
 
9,509
351,628
VINCI SA
 
199,829
23,415,175
Virbac SA
 
1,796
665,092
Vivendi SA
 
270,377
2,760,234
VusionGroup (a)(b)
 
3,052
502,570
Wavestone
 
4,508
257,385
Wendel SA
 
11,456
1,174,292
Worldline SA (a)(d)
 
98,314
1,028,643
TOTAL FRANCE
 
 
715,600,238
Georgia - 0.0%
 
 
 
Bank of Georgia Group PLC
 
14,412
968,858
TBC Bank Group PLC
 
17,750
767,411
TOTAL GEORGIA
 
 
1,736,269
Germany - 4.7%
 
 
 
1&1 AG
 
17,748
312,521
adidas AG
 
65,126
15,735,359
Aixtron AG
 
46,733
1,090,234
Allianz SE
 
156,730
44,477,605
Amadeus Fire AG
 
3,014
362,826
Aroundtown SA (a)(b)
 
312,316
650,775
ATOSS Software AG
 
1,936
520,657
Aurubis AG
 
13,864
1,112,634
BASF AG
 
358,186
18,789,799
Bayer AG
 
396,036
11,559,467
Bayerische Motoren Werke AG (BMW)
 
122,284
13,369,877
BayWa AG (b)
 
9,332
224,080
Bechtle AG
 
33,214
1,605,703
Beiersdorf AG
 
40,485
6,072,546
Bilfinger Berger AG
 
12,571
586,269
Brenntag SE
 
54,164
4,327,194
CANCOM AG (b)
 
15,167
474,256
Carl Zeiss Meditec AG
 
16,376
1,731,918
Cewe Stiftung & Co. KGAA
 
3,207
341,567
Commerzbank AG
 
424,401
6,322,774
CompuGroup Medical AG
 
12,523
375,811
Continental AG
 
44,525
2,890,939
Covestro AG (a)(d)
 
76,391
3,830,020
CTS Eventim AG
 
25,315
2,247,745
Daimler Truck Holding AG
 
214,717
9,695,167
Dermapharm Holding SE
 
9,991
334,799
Deutsche Bank AG
 
776,069
12,431,595
Deutsche Borse AG
 
75,858
14,624,815
Deutsche Lufthansa AG
 
239,981
1,719,507
Deutsche Pfandbriefbank AG (b)(d)
 
57,370
272,575
Deutsche Telekom AG
 
1,293,232
29,622,211
Deutz AG
 
60,532
352,392
DHL Group
 
398,702
16,693,626
Duerr AG
 
22,752
585,171
E.ON SE
 
898,096
11,884,756
Eckert & Ziegler Strahlen-und Medizintechnik AG (b)
 
7,111
282,457
ELMOS Semiconductor AG
 
3,039
252,971
Encavis AG (a)(b)
 
52,763
951,617
Energiekontor AG
 
3,569
245,670
Evonik Industries AG
 
93,481
1,949,866
Evotec OAI AG (a)(b)
 
58,833
606,286
Fielmann AG
 
11,382
532,640
Flatex AG (b)
 
35,861
470,158
Formycon AG (a)
 
4,836
211,342
Fraport AG Frankfurt Airport Services Worldwide (a)(b)
 
15,675
787,571
Freenet AG
 
52,477
1,458,330
Fresenius Medical Care AG & Co. KGaA
 
83,198
3,502,861
Fresenius SE & Co. KGaA
 
170,783
5,097,802
GEA Group AG
 
65,839
2,662,982
Gerresheimer AG
 
14,153
1,525,512
GFT Technologies AG
 
9,482
279,290
Grand City Properties SA (a)
 
33,081
368,927
Grenkeleasing AG
 
14,048
328,325
Hamborner (REIT) AG
 
52,433
358,122
Hannover Reuck SE
 
24,304
6,027,812
HeidelbergCement AG
 
52,360
5,288,350
HelloFresh AG (a)(b)
 
66,892
448,508
Henkel AG & Co. KGaA
 
42,136
3,029,936
Hensoldt AG (b)
 
26,282
1,033,855
Hornbach Holding AG & Co. KGaA
 
4,511
354,321
Hugo Boss AG
 
23,298
1,256,608
Hypoport AG (a)(b)
 
1,970
522,653
Infineon Technologies AG
 
526,012
18,254,207
Ionos SE (a)
 
10,044
257,791
Jenoptik AG
 
22,796
614,036
JOST Werke AG (d)
 
6,667
322,311
K+S AG
 
74,028
1,108,013
KION Group AG
 
29,276
1,355,336
Knorr-Bremse AG
 
29,211
2,167,618
Krones AG
 
6,017
793,678
Lanxess AG
 
36,539
1,034,522
LEG Immobilien AG
 
29,938
2,553,431
Mercedes-Benz Group AG (Germany)
 
321,636
24,328,827
Merck KGaA
 
51,915
8,252,379
Metro Wholesale & Food Specialist AG (b)
 
58,344
312,569
Montana Aerospace AG (a)(d)
 
13,619
263,120
Morphosys AG (a)(b)
 
15,328
1,082,359
MTU Aero Engines AG
 
21,992
5,318,271
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
54,770
24,093,314
mutares AG
 
7,152
321,715
Nagarro SE (a)(b)
 
3,899
297,304
Nemetschek SE
 
23,592
2,103,570
Nordex SE (a)(b)
 
51,486
728,582
NORMA Group AG
 
18,663
372,451
Pfeiffer Vacuum Technology AG
 
1,720
283,781
PNE AG (b)
 
16,631
238,186
ProSiebenSat.1 Media AG
 
63,687
496,157
Puma AG
 
43,056
1,987,938
PVA TePla AG (a)
 
11,141
221,980
Rational AG
 
2,102
1,803,577
Rheinmetall AG
 
17,590
9,708,903
RWE AG
 
254,385
8,861,634
SAF-Holland SA
 
20,756
400,487
Salzgitter AG
 
11,325
292,482
SAP SE
 
419,696
75,783,268
Schaeffler AG
 
59,737
349,357
SCHOTT Pharma AG & Co. KGaA
 
15,925
668,250
Scout24 AG (d)
 
30,635
2,259,133
SGL Carbon AG (a)(b)
 
44,495
319,574
Siemens AG
 
305,411
57,213,733
Siemens Energy AG (a)
 
209,255
4,310,017
Siemens Healthineers AG (d)
 
112,750
6,252,827
Siltronic AG
 
6,979
544,448
Sirius Real Estate Ltd.
 
629,375
765,988
Sixt SE (b)
 
7,588
728,812
SMA Solar Technology AG
 
6,794
358,323
Softwareone Holding AG
 
46,840
797,949
Stabilus Se
 
10,796
670,551
Stroeer SE & Co. KGaA
 
14,473
929,052
Suedzucker AG (Bearer)
 
28,076
401,500
Suess MicroTec AG (b)
 
8,284
412,418
Symrise AG
 
53,271
5,724,877
TAG Immobilien AG (a)
 
72,880
1,041,441
Talanx AG
 
26,163
1,974,026
TeamViewer AG (a)(d)
 
58,899
780,056
Thyssenkrupp AG (b)
 
202,766
1,018,773
TUI AG (GB) (a)(b)
 
185,489
1,311,862
United Internet AG
 
40,884
987,815
VERBIO Vereinigte BioEnergie AG (b)
 
9,404
196,905
Vitesco Technologies Group AG
 
3,611
246,056
Volkswagen AG
 
11,450
1,616,431
Vonovia SE
 
294,989
8,524,009
Vossloh AG
 
6,997
339,758
Wacker Chemie AG
 
7,801
837,518
Wacker Construction Equipment AG
 
16,845
301,654
Zalando SE (a)(d)
 
90,620
2,371,096
TOTAL GERMANY
 
 
577,331,968
Ghana - 0.0%
 
 
 
Tullow Oil PLC (a)(b)
 
600,542
272,398
Greece - 0.1%
 
 
 
Aegean Airlines SA (a)
 
19,982
268,692
Alpha Bank SA (a)
 
941,829
1,600,653
Eurobank Ergasias Services and Holdings SA (a)
 
1,074,861
2,305,654
Ff Group (a)(c)
 
881
0
GEK Terna Holding Real Estate Construction SA
 
25,655
459,420
Hellenic Telecommunications Organization SA
 
80,213
1,222,415
Helleniq Energy Holdings SA
 
41,610
374,344
Jumbo SA
 
48,012
1,495,137
Lamda Development SA (a)
 
42,373
311,569
Motor Oil (HELLAS) Corinth Refineries SA
 
28,648
830,367
Mytilineos SA
 
40,894
1,667,127
National Bank of Greece SA (a)
 
316,298
2,551,902
OPAP SA
 
76,174
1,268,982
Piraeus Financial Holdings SA (a)
 
439,266
1,759,678
Public Power Corp. of Greece (a)
 
86,532
1,037,980
Terna Energy SA
 
24,073
468,598
TOTAL GREECE
 
 
17,622,518
Guatemala - 0.0%
 
 
 
Millicom International Cellular SA (depository receipt) (a)
 
56,114
1,155,845
Hong Kong - 1.1%
 
 
 
AIA Group Ltd.
 
4,579,800
33,544,095
Alibaba Pictures Group Ltd. (a)
 
6,060,000
360,926
ASMPT Ltd.
 
127,600
1,585,772
Bank of East Asia Ltd.
 
480,581
605,097
Brightoil Petroleum Holdings Ltd. (a)(c)
 
26,000
0
Cafe de Coral Holdings Ltd.
 
216,000
224,022
Chow Sang Sang Holdings International Ltd.
 
211,000
226,693
CK Asset Holdings Ltd.
 
786,988
3,356,957
CK Infrastructure Holdings Ltd.
 
253,000
1,429,232
CLP Holdings Ltd.
 
658,000
5,175,869
Concord New Energy Group Ltd.
 
3,660,000
284,125
Cowell e Holdings, Inc. (a)(b)
 
128,000
290,402
Dah Sing Financial Holdings Ltd.
 
135,600
379,803
Fortune (REIT)
 
752,000
369,441
Futu Holdings Ltd. ADR (a)
 
22,673
1,458,101
Grand Pharmaceutical Group, Ltd.
 
826,000
455,952
Hang Lung Properties Ltd.
 
802,000
885,178
Hang Seng Bank Ltd.
 
310,400
4,093,115
Henderson Land Development Co. Ltd.
 
590,345
1,779,786
HKT Trust/HKT Ltd. unit
 
1,545,000
1,705,646
Hong Kong & China Gas Co. Ltd.
 
4,495,038
3,417,812
Hong Kong Exchanges and Clearing Ltd.
 
484,374
15,390,706
Hong Kong Resources Holdings Co. Ltd. (a)(e)
 
7,503
903
Hongkong Land Holdings Ltd.
 
445,639
1,423,897
Hutchison Port Holdings Trust
 
2,376,600
303,913
Hysan Development Co. Ltd.
 
338,000
526,801
Jardine Matheson Holdings Ltd.
 
63,958
2,447,618
Johnson Electric Holdings Ltd.
 
177,306
241,877
Kerry Properties Ltd.
 
299,000
579,646
Kingboard Laminates Holdings Ltd.
 
438,500
375,631
Link (REIT)
 
1,044,920
4,477,268
Luk Fook Holdings International Ltd.
 
183,000
438,717
Man Wah Holdings Ltd.
 
718,000
524,032
Melco Crown Entertainment Ltd. sponsored ADR (a)
 
92,947
607,873
Melco International Development Ltd. (a)(b)
 
380,000
285,445
MH Development Ltd. (a)(c)
 
74,000
0
MTR Corp. Ltd.
 
627,287
2,061,540
New World Development Co. Ltd. (b)
 
624,822
663,531
Nine Dragons Paper (Holdings) Ltd. (a)
 
825,000
364,491
NWS Holdings Ltd.
 
408,000
344,900
Orient Overseas International Ltd.
 
56,000
816,761
Pacific Basin Shipping Ltd.
 
2,256,000
781,158
PAX Global Technology Ltd.
 
457,000
382,362
PCCW Ltd.
 
1,778,886
889,433
Power Assets Holdings Ltd.
 
555,500
3,186,434
Prudential PLC
 
1,109,414
9,648,962
Sino Biopharmaceutical Ltd.
 
4,327,000
1,478,530
Sino Land Ltd.
 
1,546,432
1,653,445
Skyworth Group Ltd.
 
658,625
270,854
SMI Corp. Ltd. (a)(c)
 
7,200
2,154
SSY Group Ltd.
 
820,000
499,054
Stella International Holdings Ltd.
 
253,000
461,177
Sun Hung Kai Properties Ltd.
 
577,500
5,327,414
Swire Pacific Ltd. (A Shares)
 
169,000
1,431,212
Swire Properties Ltd.
 
470,600
973,280
Techtronic Industries Co. Ltd.
 
553,500
7,648,984
The United Laboratories International Holdings Ltd.
 
422,000
497,641
United Energy Group Ltd. (b)
 
3,330,000
237,537
Vitasoy International Holdings Ltd. (b)
 
398,000
297,051
Vtech Holdings Ltd.
 
91,100
526,577
WH Group Ltd. (d)
 
3,395,500
2,467,986
Wharf Real Estate Investment Co. Ltd.
 
686,000
2,128,324
Xinyi Glass Holdings Ltd.
 
720,393
769,816
Yue Yuen Industrial (Holdings) Ltd.
 
373,500
661,303
TOTAL HONG KONG
 
 
135,724,262
Hungary - 0.1%
 
 
 
Magyar Telekom PLC
 
157,530
397,715
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
174,755
1,434,146
OTP Bank PLC
 
90,286
4,480,114
Richter Gedeon PLC
 
57,617
1,467,218
TOTAL HUNGARY
 
 
7,779,193
India - 5.4%
 
 
 
360 ONE WAM Ltd.
 
53,443
501,947
3M India Ltd.
 
1,295
472,062
Aarti Industries Ltd.
 
79,981
708,084
Aavas Financiers Ltd. (a)
 
22,739
442,314
ABB India Ltd.
 
21,426
1,677,243
Action Construction Equipment Ltd.
 
18,080
326,968
Adani Enterprises Ltd.
 
68,643
2,507,516
Adani Green Energy Ltd. (a)
 
127,763
2,744,673
Adani Ports & Special Economic Zone Ltd.
 
211,406
3,348,149
Adani Power Ltd. (a)
 
305,569
2,234,547
Aditya Birla Fashion and Retail Ltd. (a)
 
158,047
497,111
Aegis Logistics Ltd.
 
64,214
526,906
Affle (India) Ltd. (a)
 
32,805
439,085
Ahluwalia Contracts (India) Ltd.
 
15,667
209,090
AIA Engineering Ltd.
 
17,778
806,557
Ajanta Pharma Ltd.
 
19,388
514,081
Alembic Pharmaceuticals Ltd.
 
24,980
298,828
Alkyl Amines Chemicals
 
10,400
254,108
Alok Industries Ltd. (a)
 
550,931
179,449
Amara Raja Energy & Mobility L
 
54,758
720,026
Amber Enterprises India Ltd. (a)
 
8,233
377,918
Ambuja Cements Ltd.
 
244,798
1,814,292
Anand Rathi Wealth Ltd.
 
7,315
349,337
Anant Raj Ltd.
 
54,078
234,118
Angel One Ltd.
 
15,788
524,837
Apar Industries Ltd.
 
7,642
719,580
APL Apollo Tubes Ltd.
 
68,425
1,274,011
Apollo Hospitals Enterprise Ltd.
 
40,777
2,899,441
Apollo Tyres Ltd.
 
135,537
825,886
Aptus Value Housing Finance India Ltd.
 
87,913
343,892
Archean Chemical Industries Ltd.
 
27,685
216,122
Arvind Mills Ltd.
 
67,596
253,363
Asahi India Glass Ltd.
 
37,911
272,652
Ashok Leyland Ltd.
 
599,531
1,380,280
Asian Paints Ltd.
 
152,580
5,246,943
Aster DM Healthcare Ltd. (d)
 
58,455
242,868
Astral Ltd.
 
56,381
1,426,554
Atul Ltd.
 
7,244
519,162
AU Small Finance Bank Ltd. (d)
 
76,362
578,406
Aurobindo Pharma Ltd.
 
108,996
1,503,837
Avenue Supermarts Ltd. (a)(d)
 
64,327
3,548,554
Axis Bank Ltd.
 
919,558
12,831,628
Bajaj Auto Ltd.
 
27,329
2,916,754
Bajaj Electricals Ltd.
 
25,156
284,961
Bajaj Finance Ltd.
 
111,191
9,220,915
Bajaj Finserv Ltd.
 
152,133
2,937,980
Bajaj Holdings & Investment Ltd.
 
10,926
1,061,050
Balkrishna Industries Ltd.
 
33,115
961,922
Balrampur Chini Mills Ltd.
 
67,958
321,750
Bandhan Bank Ltd. (d)
 
348,066
783,374
Bank of Baroda
 
430,721
1,447,809
BASF India Ltd.
 
5,424
242,900
Bata India Ltd.
 
28,867
472,794
Bayer CropScience Ltd.
 
6,372
417,058
Beml Ltd.
 
8,650
362,405
Berger Paints India Ltd.
 
120,459
733,560
Bharat Dynamics Ltd.
 
20,864
492,730
Bharat Electronics Ltd.
 
1,486,298
4,155,062
Bharat Forge Ltd.
 
105,791
1,609,279
Bharat Heavy Electricals Ltd.
 
426,787
1,435,185
Bharat Petroleum Corp. Ltd.
 
309,042
2,248,130
Bharti Airtel Ltd.
 
903,688
14,300,127
Bikaji Foods International Ltd.
 
37,448
238,587
Biocon Ltd.
 
194,705
695,464
Birla Corp. Ltd.
 
15,255
262,978
Birlasoft Ltd.
 
71,699
556,150
BLS International Services Ltd.
 
52,490
220,024
Blue Dart Express Ltd.
 
3,477
262,573
Blue Star Ltd.
 
57,216
1,023,118
Brigade Enterprises Ltd.
 
53,822
665,659
Britannia Industries Ltd.
 
43,698
2,496,858
Brookfield India Real Estate Trust (d)
 
91,586
277,388
BSE Ltd.
 
27,193
902,510
Can Finance Homes Ltd.
 
41,862
381,403
Carborundum Universal Ltd.
 
51,590
876,975
Castrol India Ltd.
 
194,734
490,342
CCL Products (India) Ltd.
 
39,865
282,432
CEAT Ltd.
 
10,396
319,459
Cello World Ltd.
 
26,544
287,447
Central Depository Services (India) Ltd.
 
22,455
564,369
Century Plyboards India Ltd.
 
28,498
216,970
Century Textiles & Industries Ltd.
 
19,758
471,479
Cera Sanitaryware Ltd.
 
3,366
289,535
CESC Ltd. GDR
 
273,425
480,228
Cg Power & Industrial Soluti
 
245,276
1,623,617
Chalet Hotels Ltd. (a)
 
28,337
293,062
Chambal Fertilizers & Chemicals Ltd.
 
92,079
467,192
Chemplast Sanmar Ltd. (a)
 
41,898
250,538
Chennai Petroleum Corp. Ltd.
 
20,280
247,967
Cholamandalam Financial Holdings Ltd.
 
40,029
516,201
Cholamandalam Investment and Finance Co. Ltd.
 
169,908
2,424,605
CIE Automotive India Ltd.
 
65,713
385,040
Cipla Ltd./India (a)
 
212,141
3,550,292
City Union Bank Ltd.
 
206,086
395,897
Clean Science & Technology Ltd.
 
13,518
213,702
CMS Info Systems Ltd.
 
74,316
368,814
Coal India Ltd.
 
622,630
3,384,243
Cochin Shipyard Ltd. (d)
 
34,163
532,870
Coforge Ltd.
 
24,423
1,486,797
Colgate-Palmolive Ltd.
 
56,301
1,904,775
Computer Age Management Services Private Ltd.
 
19,308
739,831
Container Corp. of India Ltd.
 
105,644
1,297,245
Coromandel International Ltd.
 
51,804
748,812
Craftsman Automation Ltd.
 
4,786
253,380
CreditAccess Grameen Ltd. (a)
 
24,392
440,607
CRISIL Ltd.
 
7,772
405,303
Crompton Greaves Consumer Electricals Ltd.
 
280,387
1,068,518
Cummins India Ltd.
 
56,141
2,197,517
Cyient Ltd.
 
34,931
753,328
Dabur India Ltd.
 
256,574
1,559,040
Data Patterns India Ltd. (a)
 
9,300
330,127
Deepak Fertilisers and Petrochemicals Corp. Ltd.
 
35,686
258,110
Deepak Nitrite Ltd.
 
29,376
854,740
Delhivery Private Ltd. (a)
 
156,757
842,497
Devyani International Ltd. (a)
 
173,771
345,166
Divi's Laboratories Ltd.
 
48,230
2,308,705
Dixon Technologies India Ltd.
 
13,333
1,330,281
DLF Ltd.
 
300,556
3,201,398
Dr Lal Pathlabs Ltd. (d)
 
18,029
511,679
Dr. Reddy's Laboratories Ltd.
 
47,367
3,513,993
E.I.D. Parry (India) Ltd.
 
42,406
313,477
eClerx Services Ltd.
 
9,867
290,234
Edelweiss Financial Services Ltd.
 
274,120
256,736
Eicher Motors Ltd.
 
55,893
3,076,237
EIH Ltd.
 
80,534
461,013
Elecon Engineering Co. Ltd.
 
20,445
277,249
Electrosteel Castings Ltd.
 
132,803
304,333
Elgi Equipments Ltd.
 
81,766
636,292
Emami Ltd.
 
93,142
543,339
Embassy Office Parks (REIT)
 
350,542
1,498,614
Endurance Technologies Ltd. (d)
 
13,199
312,225
Engineers India Ltd.
 
116,611
340,367
Equitas Small Finance Bank Ltd. (d)
 
299,998
348,474
Eris Lifesciences Ltd. (a)(d)
 
26,583
285,058
Exide Industries Ltd.
 
193,236
1,092,846
Federal Bank Ltd.
 
766,656
1,488,689
Fine Organic Industries Ltd.
 
6,339
333,043
Finolex Cables Ltd.
 
31,925
402,101
Finolex Industries Ltd.
 
124,036
394,781
Firstsource Solutions Ltd.
 
155,203
391,758
Five Star Business Finance Ltd. (a)
 
51,284
465,030
Fortis Healthcare Ltd.
 
192,841
1,014,471
GAIL India Ltd.
 
931,491
2,326,313
Garware Technical Fibres Ltd.
 
5,014
194,197
Gateway Distriparks Ltd.
 
217,087
277,540
Ge T&D India Ltd. (a)
 
28,922
392,992
GHCL Ltd.
 
41,035
251,880
Gland Pharma Ltd. (a)(d)
 
14,721
300,640
GlaxoSmithKline Pharmaceuticals Ltd.
 
19,275
481,767
Glenmark Pharmaceuticals Ltd.
 
61,287
775,328
Global Health Ltd. (a)
 
34,056
587,753
GMM Pfaudler Ltd.
 
18,871
322,399
GMR Airports Infrastructure Ltd. (a)
 
988,610
1,005,219
Go Fashion (INDIA) Ltd. (a)
 
17,131
225,638
Godawari Power & Ispat Ltd.
 
25,907
275,660
Godfrey Phillips India Ltd.
 
6,318
252,912
Godrej Consumer Products Ltd.
 
168,228
2,454,499
Godrej Industries Ltd. (a)
 
29,319
336,949
Godrej Properties Ltd. (a)
 
52,328
1,653,431
Gokaldas Exports Ltd.
 
25,380
267,479
Granules India Ltd.
 
66,877
338,887
Graphite India Ltd.
 
35,342
285,651
Grasim Industries Ltd.
 
106,862
3,080,292
Great Eastern Shipping Co. Ltd.
 
43,491
566,589
Grindwell Norton Ltd.
 
20,847
531,133
Gujarat Fluorochemicals Ltd.
 
12,250
530,726
Gujarat Gas Ltd.
 
63,521
415,334
Gujarat Narmada Valley Fertilizers Co.
 
48,249
411,260
Gujarat Pipavav Port Ltd.
 
131,111
330,419
Gujarat State Fertilizers & Chemicals Ltd.
 
102,880
302,554
Gujarat State Petronet Ltd.
 
121,440
428,380
Happiest Minds Technologies Ltd.
 
42,425
412,816
Havells India Ltd.
 
102,120
2,031,871
HBL Power Systems Ltd. (a)
 
51,916
317,456
HCL Technologies Ltd.
 
379,657
6,192,339
HDFC Asset Management Co. Ltd. (d)
 
39,474
1,839,713
HDFC Bank Ltd.
 
1,129,769
20,511,437
HDFC Standard Life Insurance Co. Ltd. (d)
 
391,377
2,731,053
Hero Motocorp Ltd.
 
48,544
2,633,834
Hfcl Ltd.
 
327,290
393,097
Himadri Speciality Chemical Ltd.
 
80,854
362,630
Hindalco Industries Ltd.
 
543,228
4,176,654
Hindustan Aeronautics Ltd.
 
81,095
3,825,915
Hindustan Construction Co. Ltd. (a)
 
633,061
285,827
Hindustan Copper Ltd.
 
106,666
490,704
Hindustan Petroleum Corp. Ltd.
 
233,271
1,383,306
Hindustan Unilever Ltd.
 
329,897
8,808,094
Hitachi Energy India Ltd.
 
4,661
533,827
Home First Finance Co. India Ltd. (d)
 
24,283
264,831
Honasa Consumer Ltd.
 
45,012
230,761
ICICI Bank Ltd.
 
2,085,554
28,728,568
ICICI Lombard General Insurance Co. Ltd. (d)
 
98,655
2,015,733
ICICI Prudential Life Insurance Co. Ltd. (d)
 
150,316
1,028,742
ICICI Securities Ltd. (d)
 
40,869
370,107
IDFC Bank Ltd. (a)
 
1,470,673
1,442,968
IDFC Ltd. (a)
 
535,650
778,853
Iifl Finance Ltd.
 
91,914
447,313
Iifl Finance Ltd. rights 5/14/24 (a)
 
10,212
11,610
India Cements Ltd./The (a)
 
84,072
225,418
Indiabulls Housing Finance Ltd.
 
183,565
372,940
Indiabulls Real Estate Ltd. (a)
 
203,902
322,573
IndiaMART InterMESH Ltd. (d)
 
14,018
442,800
Indian Energy Exchange Ltd. (d)
 
219,179
409,754
Indian Oil Corp. Ltd.
 
1,143,686
2,308,884
Indian Railway Catering & Tourism Corp. Ltd.
 
99,550
1,235,791
Indian Renewable Energy Development Agency Ltd.
 
275,322
584,550
Indraprastha Gas Ltd.
 
133,205
747,118
IndusInd Bank Ltd.
 
118,817
2,153,592
Infibeam Avenues Ltd.
 
518,427
210,575
Info Edge India Ltd.
 
29,113
2,104,962
Infosys Ltd.
 
1,334,561
22,527,014
Inox Wind Ltd. (a)
 
50,080
373,499
Intellect Design Arena Ltd.
 
36,238
467,931
InterGlobe Aviation Ltd. (a)(d)
 
69,919
3,333,066
Ion Exchange (INDIA) Ltd.
 
36,448
247,245
Ipca Laboratories Ltd.
 
59,836
960,782
IRB Infrastructure Developers Ltd.
 
513,802
416,265
Ircon International Ltd. (d)
 
143,575
429,725
ITC Ltd.
 
1,190,048
6,203,426
J.B. Chemicals & Pharmaceuticals Ltd.
 
30,010
684,659
Jai Balaji Industries Ltd. (a)
 
15,569
190,435
Jaiprakash Power Ventures Ltd. (a)
 
1,441,874
342,942
JBM Auto Ltd.
 
10,451
237,850
Jindal Saw Ltd.
 
51,617
341,435
Jindal Steel & Power Ltd.
 
145,592
1,616,490
Jio Financial Services Ltd.
 
1,152,132
5,186,747
JK Cement Ltd.
 
15,525
742,441
JK Lakshmi Cement Ltd.
 
32,115
305,523
JK Tyre & Industries Ltd.
 
48,765
245,639
JM Financial Ltd.
 
213,310
226,000
JSW Steel Ltd.
 
244,283
2,573,020
Jubilant Foodworks Ltd.
 
173,241
959,496
Jubilant Ingrevia Ltd.
 
39,893
263,810
Jubilant Pharmova Ltd.
 
31,838
256,808
Jupiter Wagons Ltd.
 
50,782
248,045
Jyothy Laboratories Ltd.
 
64,884
336,444
Kajaria Ceramics Ltd.
 
39,847
574,135
Kalpataru Power Transmission Ltd.
 
41,294
606,392
Kalyan Jewellers India Ltd.
 
107,244
529,967
Kansai Nerolac Paints Ltd.
 
109,111
364,751
Kaynes Technology India Ltd. (a)
 
11,279
359,945
KEC International Ltd.
 
54,397
486,663
KEI Industries Ltd.
 
24,712
1,182,462
KFin Technologies Ltd. (a)
 
35,571
318,093
Kirloskar Oil Engines Ltd.
 
35,777
436,739
KNR Constructions Ltd.
 
80,338
254,895
Kotak Mahindra Bank Ltd.
 
438,836
8,526,524
KPI Green Energy Ltd. (d)
 
10,332
224,110
KPIT Technologies Ltd.
 
68,494
1,220,743
KPR Mill Ltd.
 
36,056
365,167
Krishna Institute of Medical Sciences Ltd. (a)(d)
 
22,798
555,551
KSB Ltd.
 
6,258
338,162
L&T Finance Ltd.
 
328,755
654,431
Lakshmi Machine Works Ltd.
 
1,875
378,563
Larsen & Toubro Ltd.
 
270,029
11,604,144
Laurus Labs Ltd. (d)
 
159,901
860,960
Lemon Tree Hotels Ltd. (a)(d)
 
218,829
399,103
LIC Housing Finance Ltd.
 
126,838
1,021,225
Ltimindtree Ltd. (d)
 
35,970
2,019,713
Lupin Ltd.
 
93,270
1,835,967
Macrotech Developers Ltd. (d)
 
98,393
1,457,030
Mahanagar Gas Ltd.
 
22,616
390,793
Maharashtra Seamless Ltd.
 
20,500
221,363
Mahindra & Mahindra Financial Services Ltd.
 
215,035
671,082
Mahindra & Mahindra Ltd.
 
376,266
9,702,605
Mahindra Lifespace Developers Ltd.
 
43,102
327,495
Manappuram General Finance & Leasing Ltd.
 
252,001
601,499
Marico Ltd.
 
213,379
1,323,800
Maruti Suzuki India Ltd.
 
56,694
8,695,480
Mastek Ltd.
 
8,482
272,914
Max Financial Services Ltd. (a)
 
109,316
1,322,444
Max Healthcare Institute Ltd.
 
315,198
3,166,507
MedPlus Health Services Ltd. (a)
 
27,853
232,480
Metropolis Healthcare Ltd. (d)
 
13,203
286,811
Mindspace Business Parks (REIT) (d)
 
83,608
355,263
Motherson Sumi Wiring India Ltd.
 
783,125
646,841
Motilal Oswal Financial Services Ltd.
 
16,743
476,018
Mphasis BFL Ltd.
 
32,728
903,652
MRF Ltd.
 
955
1,519,703
Mrs Bectors Food Specialities Ltd.
 
15,043
229,170
MTAR Technologies Pvt Ltd. (a)
 
10,494
236,284
Multi Commodity Exchange of India Ltd.
 
11,103
545,379
Muthoot Finance Ltd.
 
49,990
1,027,983
Narayana Hrudayalaya Ltd.
 
31,442
484,406
Natco Pharma Ltd.
 
36,008
437,541
National Aluminium Co. Ltd.
 
351,358
777,875
Nava Bharat Ventures Ltd.
 
34,897
209,715
Navin Fluorine International Ltd.
 
15,961
652,189
NBBC India Ltd.
 
232,321
387,690
Ncc Ltd.
 
181,376
524,527
Nestle India Ltd.
 
135,358
4,061,954
Neuland Laboratories Ltd.
 
3,568
324,944
Newgen Software Technologies Ltd.
 
28,431
314,948
Nexus Select Trust
 
201,773
323,032
NIIT Learning Systems Ltd.
 
38,576
229,792
Nippon Life India Asset Management Ltd. (d)
 
54,941
386,753
Nlc India Ltd.
 
96,887
280,168
NMDC Ltd.
 
428,423
1,299,754
NMDC Steel Ltd. (a)
 
341,750
262,601
NTPC Ltd.
 
1,751,414
7,609,368
Nuvoco Vistas Corp. Ltd. (a)
 
80,391
325,567
Oil & Natural Gas Corp. Ltd.
 
1,269,161
4,283,159
Olectra Greentech Ltd.
 
16,422
338,910
One97 Communications Ltd. (a)
 
106,509
474,586
Page Industries Ltd.
 
2,584
1,075,373
Paisalo Digital Ltd.
 
240,544
205,667
PB Fintech Ltd. (a)
 
102,827
1,556,933
Pcbl Ltd. /India
 
80,974
261,206
Persistent Systems Ltd.
 
40,710
1,637,216
Petronet LNG Ltd.
 
315,810
1,171,891
Phoenix Mills Ltd.
 
40,501
1,527,069
PI Industries Ltd.
 
33,737
1,474,059
Pidilite Industries Ltd.
 
60,907
2,220,908
Piramal Enterprises Ltd.
 
46,642
515,081
Piramal Pharma Ltd. (a)
 
242,816
416,502
PNB Housing Finance Ltd. (a)(d)
 
49,631
472,315
PNC Infratech Ltd.
 
56,231
301,611
Poly Medicure Ltd.
 
14,502
285,335
Polycab India Ltd.
 
18,593
1,261,374
Poonawalla Fincorp Ltd.
 
97,027
567,841
Power Finance Corp. Ltd.
 
599,954
3,161,609
Power Grid Corp. of India Ltd.
 
1,873,261
6,754,514
Praj Industries Ltd.
 
54,963
360,472
Procter & Gamble Health Ltd.
 
4,688
275,909
PTC India Ltd.
 
106,858
286,682
Punjab National Bank
 
910,744
1,535,542
PVR INOX Ltd. (a)
 
35,212
572,204
Quess Corp. Ltd. (d)
 
35,779
266,925
Radico Khaitan Ltd.
 
30,716
645,349
RailTel Corp. of India Ltd.
 
46,293
220,672
Rain Industries Ltd.
 
101,325
210,947
Rainbow Children's Medicare Ltd.
 
23,720
390,037
Ramkrishna Forgings Ltd.
 
38,210
342,706
Rategain Travel Technologies Ltd. (a)
 
24,310
202,123
Ratnamani Metals & Tubes Ltd.
 
12,527
473,379
Raymond Ltd.
 
15,539
390,173
RBL Bank Ltd. (d)
 
199,162
618,661
REC Ltd.
 
531,812
3,220,640
Redington (India) Ltd.
 
254,022
663,972
Relaxo Footwears Ltd.
 
35,809
357,077
Reliance Industries Ltd.
 
1,223,871
42,950,870
Reliance Infrastructure Ltd. (a)
 
102,236
217,531
Reliance Power Ltd. (a)
 
1,138,703
370,555
Restaurant Brands Asia Ltd. (a)
 
204,547
244,419
RHI Magnesita India Ltd.
 
37,956
294,876
RITES Ltd.
 
23,229
189,797
Route Mobile Ltd.
 
15,086
275,211
Safari Industries India Ltd.
 
10,880
275,053
Samvardhana Motherson International Ltd.
 
974,974
1,526,481
Sanofi India Ltd.
 
4,205
419,147
Sapphire Foods India Ltd. (a)
 
18,746
319,323
SBI Cards & Payment Services Ltd.
 
115,323
1,004,013
SBI Life Insurance Co. Ltd. (d)
 
183,614
3,158,071
Sheela Foam Private Ltd. (a)
 
25,489
275,591
Shipping Corp. of India Ltd.
 
73,017
198,043
Shree Cement Ltd.
 
3,772
1,104,011
Shriram Finance Ltd.
 
114,828
3,502,419
Shyam Metalics & Energy Ltd.
 
28,398
212,975
Siemens Ltd.
 
35,476
2,477,951
SJVN Ltd.
 
327,855
524,008
SKF India Ltd.
 
10,992
608,823
Sobha Ltd.
 
16,850
357,272
Sona Blw Precision Forgings Ltd. (d)
 
170,359
1,273,057
Sonata Software Ltd.
 
74,676
618,109
South Indian Bank Ltd.
 
676,923
248,911
SRF Ltd.
 
59,990
1,878,576
Star Health & Allied Insurance Co. Ltd. (a)
 
70,158
480,291
State Bank of India
 
717,567
7,086,078
Sterling & Wilson Renewable Energy Ltd. (a)
 
43,670
342,663
Strides Pharma Science Ltd.
 
28,892
309,727
Sumitomo Chemical India Ltd.
 
54,431
261,079
Sun Pharmaceutical Industries Ltd.
 
384,742
6,909,990
Sun TV Ltd.
 
45,035
353,127
Sundram Fasteners Ltd.
 
46,877
626,986
Supreme Industries Ltd.
 
26,027
1,575,872
Supreme Petrochem Ltd.
 
33,922
275,704
Suven Pharmaceuticals Ltd. (a)
 
47,824
377,083
Suzlon Energy Ltd. (a)
 
3,595,676
1,781,282
Swan Energy Ltd.
 
47,215
350,216
Syngene International Ltd. (d)
 
78,983
651,072
Tamilnad Mercantile Bank Ltd.
 
44,795
260,934
Tanla Solutions Ltd.
 
29,858
326,774
Tata Chemicals Ltd.
 
60,415
776,006
Tata Communications Ltd.
 
47,592
984,737
Tata Consultancy Services Ltd.
 
361,789
16,507,396
Tata Consumer Products Ltd.
 
232,052
3,072,020
Tata Elxsi Ltd.
 
13,780
1,163,035
Tata Investment Corp. Ltd.
 
5,038
399,662
Tata Motors Ltd.
 
658,068
7,933,424
Tata Motors Ltd. Class A
 
196,869
1,605,378
Tata Power Co. Ltd./The
 
580,990
3,117,146
Tata Steel Ltd.
 
2,963,358
5,839,661
Tata Teleservices (Maharashtra) Ltd. (a)
 
268,999
264,197
TeamLease Services Ltd. (a)
 
6,585
261,218
Tech Mahindra Ltd.
 
217,709
3,278,572
Tejas Networks Ltd. (a)(d)
 
35,986
492,259
Texmaco Rail & Engineering Ltd.
 
91,208
198,969
The Indian Hotels Co. Ltd.
 
349,129
2,405,134
The Jammu & Kashmir Bank Ltd.
 
163,813
267,664
The Karnataka Bank Ltd.
 
84,945
235,080
The Karur Vysya Bank Ltd.
 
184,157
449,288
The Ramco Cements Ltd.
 
52,529
499,210
Timken India Ltd.
 
14,943
597,592
Titagarh Rail System Ltd.
 
30,069
380,716
Titan Co. Ltd.
 
141,643
6,075,793
Torrent Pharmaceuticals Ltd.
 
41,786
1,319,617
Trent Ltd.
 
73,016
3,853,047
Trident Ltd.
 
597,420
280,575
Triveni Turbine Ltd.
 
60,707
390,583
TTK Prestige Ltd.
 
27,336
229,810
Tube Investments of India Ltd.
 
42,827
1,920,614
TVS Holdings Ltd.
 
2,200
229,322
Tvs Motor Co. Ltd.
 
96,599
2,377,825
Ultratech Cement Ltd.
 
46,525
5,547,199
Union Bank of India Ltd.
 
609,408
1,122,997
United Spirits Ltd.
 
118,353
1,664,479
Uno Minda Ltd.
 
86,544
763,736
UPL Ltd.
 
190,260
1,154,363
Usha Martin Ltd.
 
74,519
335,444
UTI Asset Management Co. Ltd.
 
30,411
346,426
V-Guard Industries Ltd.
 
93,836
385,021
Vardhman Textiles Ltd.
 
47,996
255,979
Varun Beverages Ltd.
 
183,080
3,237,729
Vedanta Ltd.
 
378,853
1,807,623
Vinati Organics Ltd.
 
15,750
308,231
VIP Industries Ltd.
 
34,738
227,993
Voltamp Transformers Ltd.
 
2,975
369,806
Voltas Ltd.
 
83,851
1,478,394
Welspun Gujarat Stahl Rohren Ltd.
 
43,840
295,321
Westlife Foodworld Ltd.
 
29,662
300,567
Whirlpool of India Ltd.
 
17,244
311,179
Wipro Ltd.
 
526,722
2,899,898
Yes Bank Ltd. (a)
 
5,295,099
1,655,653
Zee Entertainment Enterprises Ltd. (a)
 
357,991
628,993
Zensar Technologies Ltd.
 
52,911
387,467
ZF Commercial Vehicle Control Systems India Ltd.
 
2,104
344,429
Zomato Ltd. (a)
 
2,463,994
5,685,102
TOTAL INDIA
 
 
658,715,952
Indonesia - 0.5%
 
 
 
Amman Mineral Internasional PT
 
2,614,700
1,556,950
First Pacific Co. Ltd.
 
1,012,000
473,287
First Resources Ltd.
 
286,700
295,363
Golden Agri-Resources Ltd.
 
2,701,700
539,924
Nickel Industries Ltd.
 
730,452
438,720
PT Adaro Energy Indonesia Tbk
 
5,896,900
980,051
PT AKR Corporindo Tbk
 
3,869,400
398,009
PT Aneka Tambang Tbk
 
3,975,200
399,587
PT Astra International Tbk
 
8,114,700
2,560,638
PT Bank Aladin Syariah Tbk (a)
 
3,772,300
233,341
PT Bank Central Asia Tbk
 
22,229,900
13,366,497
PT Bank Jago Tbk (a)
 
1,833,300
241,161
PT Bank Mandiri (Persero) Tbk
 
14,955,500
6,321,348
PT Bank Negara Indonesia (Persero) Tbk
 
6,067,300
1,952,075
PT Bank Rakyat Indonesia (Persero) Tbk
 
27,415,171
8,298,670
PT Bank Tabungan Negara (Persero) Tbk
 
2,866,591
232,240
PT Barito Pacific Tbk
 
11,507,107
719,109
PT BFI Finance Indonesia Tbk
 
3,660,700
236,262
PT Bukalapak.com Tbk (a)
 
27,973,500
222,524
PT Bukit Asam Tbk
 
2,161,300
399,529
PT Bumi Resources Minerals Tbk (a)
 
25,816,900
242,235
PT Bumi Resources Tbk (a)
 
54,956,700
334,293
PT Charoen Pokphand Indonesia Tbk
 
3,080,800
937,322
PT Ciputra Development Tbk
 
4,593,000
340,535
PT GoTo Gojek Tokopedia Tbk (a)
 
342,255,684
1,316,410
PT Hanson International Tbk (a)(c)
 
3,268,900
10,052
PT Indah Kiat Pulp & Paper Tbk
 
1,063,500
612,105
PT Indo Tambangraya Megah Tbk
 
209,700
325,055
PT Indocement Tunggal Prakarsa Tbk
 
582,900
277,257
PT Indofood CBP Sukses Makmur Tbk
 
998,200
667,215
PT Indofood Sukses Makmur Tbk
 
1,861,500
714,824
PT Inti Agriculture Resources Tbk (a)(c)
 
1,180,800
3,631
PT Japfa Comfeed Indonesia Tbk
 
3,154,300
221,902
PT Jasa Marga Tbk
 
1,036,896
343,899
PT Kalbe Farma Tbk
 
9,110,900
808,752
PT Map Aktif Adiperkasa
 
4,715,500
227,272
PT Medco Energi International Tbk
 
2,866,700
235,195
PT Medikaloka Hermina Tbk
 
3,307,600
259,684
PT Merdeka Copper Gold Tbk (a)
 
4,064,025
654,536
PT Mitra Adiperkasa Tbk
 
3,613,500
349,601
PT Pabrik Kertas Tjiwi Kimia Tbk
 
652,400
311,451
PT Pacific Strategic Financial Tbk (a)
 
3,596,500
249,039
PT Pakuwon Jati Tbk
 
10,960,300
270,357
PT Perusahaan Gas Negara Tbk Series B
 
5,312,700
479,751
PT Pool Advista Indonesia Tbk (a)(c)
 
184,900
569
PT Sarana Menara Nusantara Tbk
 
9,061,300
447,694
PT Semen Indonesia (Persero) Tbk
 
1,509,769
433,071
PT Smartfren Telecom Tbk (a)
 
81,236,100
249,670
PT Smartfren Telecom Tbk rights 5/6/24 (a)
 
34,228,693
2,088
PT Sugih Energy Tbk (a)(c)
 
40,500
125
PT Sumber Alfaria Trijaya Tbk
 
7,790,000
1,401,023
PT Summarecon Agung Tbk
 
5,698,100
180,012
PT Telkom Indonesia Persero Tbk
 
20,030,200
3,883,025
PT Transcoal Pacific Tbk
 
486,000
253,877
PT Unilever Indonesia Tbk
 
3,272,400
527,013
PT United Tractors Tbk
 
626,000
954,084
PT XL Axiata Tbk
 
2,267,200
344,043
TOTAL INDONESIA
 
 
58,733,952
Ireland - 0.3%
 
 
 
AerCap Holdings NV (a)
 
80,460
6,798,065
AIB Group PLC
 
636,545
3,305,575
Bank of Ireland Group PLC
 
427,483
4,582,628
C&C Group PLC (United Kingdom)
 
171,609
353,387
Cairn Homes PLC
 
275,604
465,305
COSMO Pharmaceuticals NV
 
4,149
326,323
Dalata Hotel Group PLC
 
98,161
442,076
Glanbia PLC
 
81,408
1,549,915
Glenveagh Properties PLC (a)(d)
 
268,213
365,238
Greencore Group PLC (a)(b)
 
216,021
355,766
Irish Residential Properties REIT PLC
 
228,428
241,584
Kerry Group PLC Class A
 
63,752
5,497,320
Keywords Studios PLC
 
33,299
478,501
Kingspan Group PLC (Ireland)
 
62,113
5,558,164
Origin Enterprises PLC
 
72,778
260,190
Smurfit Kappa Group PLC
 
105,166
4,573,501
Uniphar PLC
 
106,424
291,890
TOTAL IRELAND
 
 
35,445,428
Israel - 0.6%
 
 
 
Airport City Ltd. (a)
 
30,515
471,714
Alony Hetz Properties & Investments Ltd.
 
65,335
424,665
Amot Investments Ltd.
 
106,009
446,515
Ashtrom Group Ltd.
 
18,900
261,655
Aura Investments Ltd.
 
69,056
267,982
Azrieli Group
 
16,969
1,097,963
Bank Hapoalim BM (Reg.)
 
511,520
4,628,992
Bank Leumi le-Israel BM
 
613,397
4,803,371
Bezeq The Israel Telecommunication Corp. Ltd.
 
794,491
986,943
Big Shopping Centers Ltd. (a)
 
5,561
574,581
Camtek Ltd.
 
11,878
985,693
Cellcom Israel Ltd. (Israel) (a)
 
57,015
239,083
Check Point Software Technologies Ltd. (a)
 
37,581
5,615,353
Clal Insurance Enterprises Holdings Ltd. (a)
 
27,772
465,161
Danel Adir Yeoshua Ltd.
 
2,734
247,705
Delek Group Ltd.
 
3,856
456,539
Delta Galil Industries Ltd.
 
5,008
223,253
Elbit Systems Ltd. (Israel)
 
10,804
2,206,047
Electra Israel Ltd.
 
945
361,164
Energean PLC (b)
 
64,911
895,449
Energix-Renewable Energies Ltd.
 
119,416
447,134
Enlight Renewable Energy Ltd. (a)
 
49,804
803,301
Equital Ltd. (a)
 
11,456
317,504
Fattal Holdings 1998 Ltd. (a)
 
3,268
397,228
FIBI Holdings Ltd.
 
8,223
344,379
First International Bank of Israel
 
23,270
927,280
Formula Systems (1985) Ltd.
 
4,664
340,297
Fox Wizel Ltd.
 
3,742
296,728
Global-e Online Ltd. (a)(b)
 
39,975
1,340,362
Harel Insurance Investments and Financial Services Ltd.
 
46,752
428,954
Hilan Ltd.
 
7,010
394,748
Icl Group Ltd.
 
311,901
1,468,789
Isracard Ltd.
 
83,749
307,541
Israel Canada T.R Ltd.
 
73,852
272,974
Israel Corp. Ltd. (Class A)
 
1,600
382,975
Israel Discount Bank Ltd. (Class A)
 
502,770
2,590,677
Kornit Digital Ltd. (a)
 
21,525
331,700
Matrix IT Ltd.
 
16,335
330,049
Maytronics Ltd.
 
23,702
202,708
Mega Or Holdings Ltd.
 
10,389
270,106
Melisron Ltd.
 
10,816
743,489
Menora Mivtachim Holdings Ltd.
 
11,099
267,326
Migdal Insurance & Financial Holdings Ltd.
 
212,595
269,945
Mivne Real Estate KD Ltd.
 
256,042
617,583
Mizrahi Tefahot Bank Ltd.
 
63,287
2,312,171
Nano Dimension Ltd. ADR (a)(b)
 
103,524
249,493
Next Vision Stabilized Systems Ltd.
 
24,003
320,754
NICE Ltd. (a)
 
25,498
5,706,580
Nova Ltd. (a)
 
11,728
2,028,927
Oddity Tech Ltd.
 
13,015
423,508
Oil Refineries Ltd.
 
1,118,434
325,518
One Software Technologies Ltd.
 
23,378
324,523
OPC Energy Ltd. (a)
 
58,174
438,289
OY Nofar Energy Ltd. (a)
 
9,385
234,271
Partner Communications Co. Ltd. (a)
 
65,662
306,931
Paz Oil Co. Ltd.
 
4,533
453,100
Perion Network Ltd. (a)
 
19,793
249,102
Plus500 Ltd.
 
33,616
908,145
Radware Ltd. (a)
 
18,720
309,442
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.
 
4,219
240,512
Reit 1 Ltd.
 
89,023
358,314
Retailors Ltd.
 
9,086
199,658
Sapiens International Corp. NV
 
14,010
434,718
Sella Capital Real Estate Ltd.
 
117,988
238,678
Shapir Engineering and Industry Ltd.
 
62,405
341,575
Shikun & Binui Ltd. (a)
 
150,414
323,489
Shufersal Ltd.
 
110,057
727,115
Strauss Group Ltd.
 
24,646
453,181
Summit Real Estate Holdings Ltd.
 
19,264
233,280
Tel Aviv Stock Exchange Ltd.
 
42,190
279,526
Teva Pharmaceutical Industries Ltd. sponsored ADR (a)
 
451,608
6,345,092
The Phoenix Holdings Ltd.
 
71,613
687,296
Tower Semiconductor Ltd. (a)
 
44,754
1,461,638
Wix.com Ltd. (a)
 
22,730
2,701,915
YH Dimri Construction & Development Ltd.
 
3,659
286,919
ZIM Integrated Shipping Services Ltd. (b)
 
40,214
532,836
TOTAL ISRAEL
 
 
70,190,101
Italy - 1.6%
 
 
 
A2A SpA
 
626,776
1,241,135
ACEA SpA (b)
 
17,686
307,277
Amco - Asset Management Co. SpA Class B (a)(c)
 
141
0
Amplifon SpA
 
50,330
1,688,174
Anima Holding SpA (d)
 
84,981
399,225
Ariston Holding NV (b)
 
31,891
164,657
Assicurazioni Generali SpA
 
397,453
9,713,306
Azimut Holding SpA
 
43,863
1,159,498
Banca Generali SpA
 
23,096
907,541
Banca IFIS SpA
 
15,801
353,108
Banca Mediolanum S.p.A.
 
86,239
936,909
Banca Monte dei Paschi di Siena SpA
 
332,678
1,615,405
Banca Popolare di Sondrio SCARL
 
152,215
1,276,809
Banco BPM SpA
 
488,728
3,225,392
BFF Bank SpA (d)
 
72,666
934,467
BPER Banca
 
402,486
2,100,846
Brembo N.V.
 
61,895
790,803
Brunello Cucinelli SpA
 
13,679
1,402,890
Buzzi SpA
 
38,788
1,401,620
Carel Industries SpA (d)
 
22,270
452,040
Coca-Cola HBC AG
 
87,420
2,829,204
Credito Emiliano SpA
 
39,744
420,755
Cromwell European (REIT)
 
150,462
238,976
Davide Campari Milano NV
 
247,333
2,486,445
De'Longhi SpA
 
30,675
1,010,244
DiaSorin SpA
 
9,169
929,003
El.En. Group SpA
 
29,362
370,695
Enav SpA (d)
 
115,254
475,268
Enel SpA
 
3,220,407
21,165,928
Eni SpA
 
873,026
14,022,274
ERG SpA (b)
 
26,145
705,919
Ferrari NV (Italy)
 
50,640
20,925,453
Ferretti SpA
 
80,229
245,731
FinecoBank SpA
 
245,618
3,785,064
GVS SpA (a)(d)
 
33,099
193,571
Hera SpA
 
331,250
1,198,399
Industrie de Nora SpA (b)
 
15,660
211,244
Infrastrutture Wireless Italiane SpA (d)
 
134,275
1,444,447
Intercos SpA
 
24,220
339,637
Interpump Group SpA
 
30,974
1,357,918
Intesa Sanpaolo SpA
 
5,823,425
21,797,103
Iren SpA
 
294,685
592,495
Italgas SpA
 
183,596
1,018,855
Iveco Group NV
 
71,332
898,662
Leonardo SpA
 
163,532
3,774,897
Lottomatica Group SpA
 
37,683
437,542
Maire Tecnimont SpA
 
63,402
527,092
MARR SpA
 
21,104
272,068
Mediobanca SpA
 
203,852
2,904,304
MFE-MediaForEurope NV Class A
 
117,137
344,774
Moncler SpA
 
82,598
5,652,087
Nexi SpA (a)(d)
 
241,068
1,409,313
OVS (d)
 
116,360
304,736
Piaggio & C SpA
 
89,491
262,065
Pirelli & C. SpA (d)
 
122,995
783,361
Poste Italiane SpA (d)
 
179,708
2,286,070
Prysmian SpA
 
105,497
5,762,172
Rai Way SpA (d)
 
61,119
347,003
Recordati SpA
 
42,412
2,265,367
Reply SpA
 
9,227
1,211,188
SAES Getters SpA
 
6,801
190,886
Saipem SpA (a)
 
506,109
1,168,819
Salcef Group SpA
 
10,607
292,617
Salvatore Ferragamo Italia SpA (b)
 
36,127
359,716
Sanlorenzo SpA
 
6,745
296,209
Saras SpA
 
192,881
364,341
Sesa SpA
 
3,660
382,588
Snam SpA
 
785,916
3,595,780
SOL SpA
 
15,278
589,414
Tamburi Investment Partners SpA (b)
 
40,432
393,519
Technogym SpA (d)
 
62,564
591,901
Technoprobe SpA (a)
 
64,090
513,318
Telecom Italia SpA (a)(b)
 
4,131,404
982,774
Terna - Rete Elettrica Nazionale
 
552,921
4,439,742
Tinexta SpA
 
11,155
211,188
Tod's SpA (a)(b)
 
4,400
202,008
UniCredit SpA
 
619,062
22,722,276
Unipol Gruppo SpA
 
159,316
1,431,586
Webuild SpA
 
180,818
455,793
Webuild SpA warrants 8/2/30 (a)(b)
 
5,662
14,272
Zignago Vetro SpA
 
20,941
279,800
TOTAL ITALY
 
 
196,756,978
Japan - 15.2%
 
 
 
77 Bank Ltd.
 
22,700
641,736
ABC-MART, Inc.
 
40,921
815,076
ACOM Co. Ltd.
 
187,700
483,989
Activia Properties, Inc.
 
289
717,284
Adastria Co. Ltd.
 
11,600
252,582
Adeka Corp.
 
32,800
681,607
Advance Logistics Investment Corp.
 
345
266,174
Advance Residence Investment Corp.
 
552
1,193,432
Advantest Corp.
 
308,536
9,657,384
Aeon (REIT) Investment Corp.
 
659
576,311
AEON Co. Ltd.
 
260,425
5,445,043
Aeon Delight Co. Ltd.
 
8,900
210,505
AEON Financial Service Co. Ltd.
 
45,699
380,407
AEON MALL Co. Ltd.
 
34,600
395,579
AGC, Inc.
 
77,763
2,875,228
Ai Holdings Corp.
 
18,800
289,155
Aica Kogyo Co. Ltd.
 
23,000
533,123
Aichi Financial Group, Inc.
 
20,100
379,113
Aiful Corp.
 
133,100
386,620
Ain Holdings, Inc.
 
12,000
454,158
Air Water, Inc.
 
74,500
1,118,633
Aisin Seiki Co. Ltd.
 
59,200
2,251,746
Ajinomoto Co., Inc.
 
188,925
7,024,510
Alfresa Holdings Corp.
 
73,039
1,082,400
Alps Alpine Co. Ltd.
 
83,098
750,106
Amada Co. Ltd.
 
139,200
1,520,352
Amano Corp.
 
22,900
550,774
Amvis Holdings, Inc.
 
17,700
241,481
Ana Holdings, Inc.
 
59,441
1,128,904
Anritsu Corp.
 
60,500
461,261
Anycolor, Inc. (a)(b)
 
11,800
162,438
Aoyama Trading Co. Ltd.
 
22,500
231,103
Aozora Bank Ltd. (b)
 
46,700
725,575
Appier Group, Inc. (a)
 
30,900
254,681
Arata Corp.
 
14,000
310,184
Arcland Sakamoto Co. Ltd.
 
26,600
327,453
ARCS Co. Ltd.
 
20,200
396,461
ARE Holdings, Inc.
 
29,900
386,475
Argo Graphics, Inc.
 
8,700
223,188
Ariake Japan Co. Ltd.
 
8,800
286,736
Artience Co. Ltd.
 
18,449
341,906
As One Corp.
 
25,400
418,472
Asahi Group Holdings
 
192,159
6,573,564
ASAHI INTECC Co. Ltd.
 
90,660
1,328,412
Asahi Kasei Corp.
 
499,300
3,481,187
Asics Corp.
 
65,100
2,790,339
ASKUL Corp.
 
20,200
305,066
Astellas Pharma, Inc.
 
729,003
6,996,899
Atom Corp. (a)(b)
 
51,000
291,789
Autobacs Seven Co. Ltd.
 
32,700
330,633
Axial Retailing, Inc.
 
39,200
261,989
AZ-Com Maruwa Holdings, Inc.
 
28,600
219,182
Azbil Corp.
 
50,100
1,399,293
Bandai Namco Holdings, Inc.
 
243,500
4,549,841
BayCurrent Consulting, Inc.
 
54,300
1,155,893
Belc Co. Ltd.
 
5,700
272,023
Bic Camera, Inc.
 
47,900
465,122
Biprogy, Inc.
 
31,800
925,107
Bridgestone Corp.
 
226,658
10,001,740
Brother Industries Ltd.
 
94,700
1,675,145
Bunka Shutter Co. Ltd.
 
27,400
295,310
C. Uyemura & Co. Ltd.
 
4,700
307,646
Calbee, Inc.
 
33,900
740,429
Canon Marketing Japan, Inc.
 
18,800
516,574
Canon, Inc.
 
400,743
10,846,226
Capcom Co. Ltd.
 
140,900
2,319,558
Casio Computer Co. Ltd.
 
80,500
670,668
Cellebrite DI Ltd. (a)(b)
 
26,635
287,924
Central Japan Railway Co.
 
307,175
7,024,473
Change Holdings, Inc. (b)
 
22,300
166,970
Chiba Bank Ltd.
 
217,700
1,838,927
Chubu Electric Power Co., Inc.
 
259,116
3,326,004
Chudenko Corp.
 
13,200
266,343
Chugai Pharmaceutical Co. Ltd.
 
270,300
8,596,586
Chugin Financial Group, Inc.
 
65,000
547,379
Chugoku Electric Power Co., Inc.
 
118,200
811,467
Chugoku Marine Paints Ltd.
 
17,800
232,954
Citizen Watch Co. Ltd.
 
95,000
631,084
CKD Corp.
 
23,565
440,407
Coca-Cola Bottlers Japan, Inc.
 
56,250
787,530
Colowide Co. Ltd.
 
34,900
475,469
Comforia Residential REIT, Inc.
 
281
608,293
COMSYS Holdings Corp.
 
45,700
1,069,725
Concordia Financial Group Ltd.
 
434,800
2,342,762
Cosmo Energy Holdings Co. Ltd.
 
24,900
1,190,356
Cosmos Pharmaceutical Corp.
 
8,200
754,352
Cover Corp. (a)(b)
 
14,900
159,195
CRE Logistics REIT, Inc. (b)
 
301
288,094
Create Restaurants Holdings, Inc.
 
52,600
362,492
Create SD Holdings Co. Ltd.
 
12,600
272,302
Credit Saison Co. Ltd.
 
59,401
1,096,493
CyberAgent, Inc.
 
178,600
1,112,780
Cybozu, Inc.
 
17,200
174,094
Dai Nippon Printing Co. Ltd.
 
82,000
2,388,342
Dai-ichi Mutual Life Insurance Co.
 
377,599
8,745,587
Daicel Chemical Industries Ltd.
 
94,321
876,063
Daido Steel Co. Ltd.
 
53,800
593,226
Daiei Kankyo Co. Ltd.
 
17,500
292,469
Daifuku Co. Ltd.
 
122,500
2,509,266
Daihen Corp.
 
8,300
504,535
Daiichi Sankyo Kabushiki Kaisha
 
744,800
25,068,264
Daiichikosho Co. Ltd.
 
41,800
487,907
Daikin Industries Ltd.
 
106,168
14,491,012
Daio Paper Corp.
 
39,900
285,665
Daiseki Co. Ltd.
 
19,720
374,778
Daishi Hokuetsu Financial Group, Inc.
 
17,542
502,795
Daito Trust Construction Co. Ltd.
 
23,544
2,523,785
Daiwa House Industry Co. Ltd.
 
234,544
6,599,813
Daiwa House REIT Investment Corp.
 
940
1,578,990
Daiwa Office Investment Corp.
 
124
452,093
Daiwa Securities Group, Inc.
 
534,000
3,924,398
Daiwa Securities Living Invest
 
822
558,145
Daiwabo Holdings Co. Ltd.
 
34,900
606,216
DCM Holdings Co. Ltd.
 
50,100
463,841
DeNA Co. Ltd.
 
33,000
332,843
Denka Co. Ltd.
 
35,700
528,986
DENSO Corp.
 
757,988
12,918,483
Dentsu Group, Inc.
 
81,800
2,212,950
Dentsu Soken, Inc. (b)
 
11,500
380,973
Descente Ltd.
 
16,400
369,777
Dexerials Corp.
 
22,400
839,029
Dic Corp.
 
32,300
603,674
Digital Garage, Inc.
 
14,800
261,029
Dip Corp.
 
16,400
277,163
Disco Corp.
 
37,000
10,539,293
Dmg Mori Co. Ltd. (b)
 
48,600
1,299,201
Doutor Nichires Holdings Co., Ltd.
 
18,300
245,064
Dowa Holdings Co. Ltd.
 
22,000
823,834
DTS Corp.
 
20,600
561,983
Duskin Co. Ltd.
 
17,700
367,946
Earth Corp.
 
8,100
225,431
East Japan Railway Co.
 
361,830
6,631,971
Ebara Corp.
 
37,200
3,066,547
EDION Corp.
 
35,700
368,810
eGuarantee, Inc.
 
24,700
269,958
Eiken Chemical Co. Ltd.
 
20,000
254,333
Eisai Co. Ltd.
 
102,300
4,201,365
Eizo Corp.
 
8,000
257,054
Elecom Co. Ltd.
 
22,500
212,929
Electric Power Development Co. Ltd.
 
59,300
1,007,329
en japan, Inc.
 
16,600
275,974
ENEOS Holdings, Inc.
 
1,154,950
5,336,117
euglena Co. Ltd. (a)(b)
 
72,700
238,694
Exedy Corp.
 
15,900
291,109
Exeo Group, Inc.
 
74,900
816,354
Ezaki Glico Co. Ltd.
 
20,600
531,809
Fancl Corp.
 
36,800
429,811
FANUC Corp.
 
383,225
11,350,856
Fast Retailing Co. Ltd.
 
70,308
18,383,367
FCC Co. Ltd.
 
19,100
271,771
Ferrotec Holdings Corp.
 
21,200
402,515
Financial Products Group Co. Ltd.
 
29,100
407,805
Food & Life Companies Ltd.
 
46,500
878,889
FP Corp.
 
21,300
342,725
Freee KK (a)
 
18,500
323,806
Frontier Real Estate Investment Corp.
 
195
566,884
Fuji Corp.
 
34,600
580,429
Fuji Electric Co. Ltd.
 
51,200
3,184,841
Fuji Kyuko Co. Ltd.
 
10,800
230,582
Fuji Media Holdings, Inc.
 
21,000
249,594
Fuji Oil Holdings, Inc.
 
21,700
319,381
Fuji Seal International, Inc.
 
19,700
253,133
Fuji Soft ABC, Inc.
 
22,200
868,771
FUJIFILM Holdings Corp.
 
447,400
9,517,311
Fujikura Ltd.
 
101,300
1,740,773
Fujimi, Inc.
 
22,600
490,188
Fujitec Co. Ltd.
 
25,600
631,387
Fujitsu General Ltd.
 
27,100
349,572
Fujitsu Ltd.
 
707,320
10,926,788
Fukuda Denshi Co. Ltd.
 
7,100
294,409
Fukuoka (REIT) Investment Fund
 
286
307,195
Fukuoka Financial Group, Inc.
 
67,512
1,793,289
Fukushima Galilei Co. Ltd.
 
6,200
247,905
Fukuyama Transporting Co. Ltd.
 
9,900
239,213
Funai Soken Holdings, Inc.
 
22,000
332,842
Furukawa Electric Co. Ltd.
 
30,800
659,455
Fuso Chemical Co. Ltd.
 
9,300
238,855
Future Corp.
 
21,300
214,882
Fuyo General Lease Co. Ltd.
 
6,800
583,165
Global One Real Estate Investment Corp.
 
431
293,292
Glory Ltd.
 
21,400
385,591
GLP J-REIT
 
1,914
1,556,679
GMO Internet, Inc.
 
32,700
536,906
GMO Payment Gateway, Inc.
 
17,300
791,322
GNI Group Ltd. (a)
 
20,900
327,929
GOLDWIN, Inc.
 
9,100
551,974
GS Yuasa Corp.
 
33,200
626,399
GungHo Online Entertainment, Inc.
 
21,400
314,613
Gunma Bank Ltd.
 
143,700
874,581
Gunze Ltd.
 
7,600
257,597
H.I.S. Co. Ltd. (a)
 
26,600
295,562
H.U. Group Holdings, Inc.
 
25,447
386,824
H2O Retailing Corp.
 
40,800
461,009
Hakuhodo DY Holdings, Inc.
 
88,600
824,095
Hakuto Co. Ltd.
 
6,400
221,004
Hamakyorex Co. Ltd.
 
13,100
322,957
Hamamatsu Photonics K.K.
 
57,500
2,106,896
Hankyu Hanshin Holdings, Inc.
 
91,900
2,409,456
Hankyu REIT, Inc.
 
332
297,187
Hanwa Co. Ltd.
 
15,000
577,146
Harmonic Drive Systems, Inc.
 
22,400
559,435
Haseko Corp.
 
96,600
1,167,050
Hazama Ando Corp.
 
71,900
536,090
Heiwa Corp.
 
23,800
298,143
Heiwa Real Estate (REIT), Inc.
 
447
400,747
Heiwa Real Estate Co. Ltd.
 
16,300
450,631
Hiday Hidaka Corp.
 
16,176
287,528
Hikari Tsushin, Inc.
 
8,100
1,316,427
Hino Motors Ltd. (a)
 
123,700
361,102
Hioki EE Corp.
 
5,600
223,315
Hirata Corp.
 
5,000
223,693
Hirogin Holdings, Inc.
 
118,100
849,891
Hirose Electric Co. Ltd.
 
11,955
1,268,973
Hisamitsu Pharmaceutical Co., Inc.
 
23,900
579,853
Hitachi Construction Machinery Co. Ltd.
 
43,600
1,245,315
Hitachi Ltd.
 
372,476
34,364,895
Hitachi Zosen Corp.
 
69,500
537,922
Hogy Medical Co. Ltd.
 
12,000
283,588
Hokkaido Electric Power Co., Inc.
 
85,400
606,828
Hokkoku Financial Holdings, Inc.
 
9,900
317,803
Hokuetsu Corp. (b)
 
41,400
349,160
Hokuhoku Financial Group, Inc.
 
48,700
597,400
Hokuriku Electric Power Co., Inc.
 
82,200
480,897
Honda Motor Co. Ltd.
 
1,852,616
21,078,290
Horiba Ltd.
 
14,700
1,426,181
Hoshino Resorts REIT, Inc. (b)
 
116
406,064
Hoshizaki Corp.
 
44,100
1,519,629
Hosiden Corp.
 
20,300
253,479
House Foods Group, Inc.
 
28,800
567,441
Hoya Corp.
 
141,218
16,372,790
Hulic (REIT), Inc.
 
531
507,494
Hulic Co. Ltd.
 
152,700
1,407,078
Ibiden Co. Ltd.
 
45,800
1,741,019
Ichibanya Co. Ltd.
 
39,500
272,730
Ichigo Real Estate Investment Corp.
 
497
254,847
Ichigo, Inc.
 
116,300
313,273
Idec Corp.
 
18,400
324,781
Idemitsu Kosan Co. Ltd.
 
388,500
2,632,134
IHI Corp.
 
58,772
1,407,246
Iida Group Holdings Co. Ltd.
 
64,400
822,125
Iino Kaiun Kaisha Ltd.
 
33,400
268,474
Inaba Denki Sangyo Co. Ltd.
 
24,700
576,265
Inabata & Co. Ltd.
 
21,400
436,238
Industrial & Infrastructure Fund Investment Corp.
 
1,005
831,015
Infomart Corp.
 
93,800
218,991
INFRONEER Holdings, Inc.
 
79,204
701,405
INPEX Corp.
 
388,400
5,818,155
Internet Initiative Japan, Inc.
 
46,300
783,349
Invincible Investment Corp.
 
2,717
1,217,326
Iriso Electronics Co. Ltd.
 
13,900
271,810
Isetan Mitsukoshi Holdings Ltd.
 
136,871
1,922,376
Isuzu Motors Ltd.
 
234,668
2,973,913
ITO EN Ltd.
 
23,260
564,410
Itochu Corp.
 
476,750
21,508,468
Itochu Enex Co. Ltd.
 
26,200
253,590
Itoham Yonekyu Holdings, Inc.
 
12,680
330,896
Iwatani Corp.
 
18,200
1,033,442
Iyogin Holdings, Inc.
 
107,200
818,131
Izumi Co. Ltd.
 
14,900
346,164
J. Front Retailing Co. Ltd.
 
102,000
888,302
JACCS Co. Ltd.
 
9,200
330,620
JAFCO Co. Ltd.
 
23,800
268,598
Japan Airlines Co. Ltd.
 
54,300
962,129
Japan Airport Terminal Co. Ltd.
 
27,100
957,692
Japan Aviation Electronics Industry Ltd.
 
21,800
350,220
Japan Elevator Service Holdings Co. Ltd.
 
28,700
446,015
Japan Excellent, Inc.
 
515
420,701
Japan Exchange Group, Inc.
 
201,800
4,726,262
Japan Hotel REIT Investment Corp.
 
1,911
1,004,226
Japan Lifeline Co. Ltd.
 
33,100
242,945
Japan Logistics Fund, Inc.
 
374
666,850
Japan Material Co. Ltd.
 
28,100
396,434
Japan Petroleum Exploration Co. Ltd.
 
13,800
582,129
Japan Post Bank Co. Ltd.
 
577,134
5,858,090
Japan Post Holdings Co. Ltd.
 
828,938
7,960,541
Japan Post Insurance Co. Ltd.
 
77,400
1,453,114
Japan Prime Realty Investment Corp.
 
357
772,499
Japan Real Estate Investment Corp.
 
507
1,719,309
Japan Retail Fund Investment Corp.
 
2,767
1,670,517
Japan Securities Finance Co. Ltd.
 
39,900
404,500
Japan Steel Works Ltd.
 
32,700
793,755
Japan Tobacco, Inc.
 
471,343
12,679,888
Japan Wool Textile Co. Ltd./The
 
26,500
228,772
JCR Pharmaceuticals Co. Ltd.
 
39,900
205,106
Jcu Corp.
 
10,700
255,458
JEOL Ltd.
 
18,400
728,997
JFE Holdings, Inc.
 
227,400
3,394,110
JGC Holdings Corp.
 
89,442
862,147
JMDC, Inc.
 
11,500
232,629
Joyful Honda Co. Ltd.
 
28,000
398,218
JTEKT Corp.
 
85,500
661,838
Juroku Financial Group, Inc.
 
15,300
459,535
Justsystems Corp.
 
16,000
278,698
JVCKENWOOD Holdings, Inc.
 
65,600
333,474
K's Holdings Corp.
 
63,300
607,631
Kadokawa Corp.
 
37,100
678,121
KAGA ELECTRONICS Co. Ltd.
 
8,900
350,605
Kagome Co. Ltd.
 
31,800
812,900
Kajima Corp.
 
168,800
3,233,716
Kakaku.com, Inc.
 
56,900
654,495
Kaken Pharmaceutical Co. Ltd.
 
16,356
355,531
Kamigumi Co. Ltd.
 
37,200
803,356
Kanamoto Co. Ltd.
 
16,500
277,514
Kandenko Co. Ltd.
 
48,600
542,119
Kaneka Corp.
 
19,600
507,680
Kanematsu Corp.
 
37,700
612,995
Kansai Electric Power Co., Inc.
 
281,499
4,216,692
Kansai Paint Co. Ltd.
 
73,739
959,947
Kao Corp.
 
187,191
7,722,046
Kasumigaseki Capital Co. Ltd.
 
2,600
241,632
Katitas Co. Ltd.
 
24,900
299,992
Kato Sangyo
 
10,700
310,300
Kawasaki Heavy Industries Ltd.
 
61,000
1,888,442
Kawasaki Kisen Kaisha Ltd.
 
158,700
2,236,065
KDDI Corp.
 
599,837
16,644,755
KDX Realty Investment Corp.
 
1,694
1,670,856
KeePer Technical Laboratory Co. Ltd.
 
6,700
190,523
Keihan Electric Railway Co., Ltd.
 
39,800
832,404
Keikyu Corp.
 
96,739
769,023
Keio Corp.
 
42,203
1,032,592
Keisei Electric Railway Co.
 
56,106
2,090,114
Kewpie Corp.
 
42,300
849,481
Keyence Corp.
 
78,250
34,411,992
Kfc Holdings Japan Ltd.
 
8,700
282,174
KH Neochem Co. Ltd.
 
21,000
322,450
Kikkoman Corp.
 
275,300
3,280,312
Kinden Corp.
 
49,592
946,271
Kintetsu Group Holdings Co. Ltd.
 
73,053
1,878,090
Kirin Holdings Co. Ltd.
 
302,970
4,422,634
Kisoji Co. Ltd. (b)
 
16,500
263,226
Kissei Pharmaceutical Co. Ltd.
 
15,100
346,000
Kitz Corp.
 
29,700
252,799
Kobayashi Pharmaceutical Co. Ltd.
 
20,000
708,999
Kobe Bussan Co. Ltd.
 
61,000
1,317,434
Kobe Steel Ltd.
 
143,200
1,747,834
Koei Tecmo Holdings Co. Ltd.
 
54,396
505,957
Kohnan Shoji Co. Ltd.
 
11,100
313,469
Koito Manufacturing Co. Ltd.
 
82,900
1,115,066
Kokuyo Co. Ltd.
 
33,000
563,778
Komatsu Ltd.
 
371,411
11,088,902
KOMEDA Holdings Co. Ltd.
 
22,200
364,386
KOMERI Co. Ltd.
 
15,000
363,691
Konami Group Corp.
 
40,500
2,443,661
Konica Minolta, Inc. (a)
 
199,900
664,695
Konishi Co. Ltd.
 
29,800
253,076
Kose Corp.
 
14,300
737,366
Kotobuki Spirits Co. Ltd.
 
44,600
459,227
Krosaki Harima Corp.
 
9,200
198,870
Kubota Corp.
 
398,410
6,390,391
Kumagai Gumi Co. Ltd.
 
14,600
384,903
Kura Sushi, Inc.
 
10,600
329,020
Kuraray Co. Ltd.
 
114,552
1,269,136
Kureha Chemical Industry Co. Ltd.
 
17,000
303,064
Kurita Water Industries Ltd.
 
42,400
1,679,214
Kusuri No Aoki Holdings Co. Ltd.
 
20,800
387,803
Kyb Corp.
 
8,400
286,767
Kyocera Corp.
 
515,748
6,286,269
Kyokuto Kaihatsu Kogyo Co. Ltd.
 
14,000
228,333
Kyorin Pharmaceutical Co. Ltd.
 
30,300
353,067
Kyoritsu Maintenance Co. Ltd.
 
27,000
575,793
Kyoto Financial Group, Inc.
 
93,800
1,669,562
Kyowa Hakko Kirin Co., Ltd.
 
110,400
1,854,041
Kyudenko Corp.
 
17,300
718,017
Kyushu Electric Power Co., Inc.
 
163,078
1,512,856
Kyushu Financial Group, Inc.
 
134,485
899,846
Kyushu Railway Co.
 
53,600
1,153,253
LaSalle Logiport REIT
 
765
767,280
Lasertec Corp.
 
30,400
6,557,445
Lawson, Inc.
 
18,100
1,182,895
Leopalace21 Corp. (a)
 
76,400
252,860
LIFE Corp.
 
11,800
294,779
Lifenet Insurance Co. (a)(b)
 
33,200
293,149
Lintec Corp.
 
17,700
352,867
Lion Corp.
 
101,036
906,089
LIXIL Group Corp.
 
116,195
1,248,018
LY Corp.
 
1,068,865
2,568,092
M&A Research Institute Holding (a)
 
9,700
306,541
M3, Inc.
 
181,090
1,915,603
Mabuchi Motor Co. Ltd.
 
39,700
614,869
Macnica Fuji Electronics Holdings, Inc.
 
18,900
833,359
Maeda Kosen Co. Ltd.
 
9,600
210,095
Makino Milling Machine Co. Ltd.
 
9,700
389,094
Makita Corp.
 
90,400
2,617,161
Mani, Inc.
 
36,400
421,695
Marubeni Corp.
 
573,300
10,214,121
Maruha Nichiro Corp.
 
20,100
392,061
Marui Group Co. Ltd.
 
62,902
960,757
Maruichi Steel Tube Ltd.
 
25,000
643,712
Maruwa Ceramic Co. Ltd.
 
3,700
779,693
Matsui Securities Co. Ltd.
 
48,500
248,248
MatsukiyoCocokara & Co.
 
139,100
1,972,540
Max Co. Ltd.
 
14,500
323,563
Maxell Ltd.
 
24,400
240,737
Mazda Motor Corp.
 
230,400
2,608,007
McDonald's Holdings Co. (Japan) Ltd. (b)
 
35,028
1,540,836
MCJ Co. Ltd.
 
31,600
275,854
Mebuki Financial Group, Inc.
 
386,068
1,365,763
Medipal Holdings Corp.
 
77,500
1,215,437
Medley, Inc. (a)
 
10,300
236,097
Megmilk Snow Brand Co. Ltd.
 
22,500
363,370
Meidensha Corp.
 
16,200
358,975
Meiji Holdings Co. Ltd.
 
93,700
2,096,479
Meiko Electronics Co. Ltd.
 
9,100
296,904
Meitec Group Holdings, Inc.
 
30,600
570,690
Menicon Co. Ltd.
 
28,100
271,127
Mercari, Inc. (a)
 
48,000
555,018
Micronics Japan Co. Ltd.
 
11,500
473,726
Milbon Co. Ltd.
 
14,700
288,945
Minebea Mitsumi, Inc.
 
146,495
2,743,903
Mirai Corp.
 
862
246,815
Mirait One Corp.
 
39,800
485,958
Misumi Group, Inc.
 
116,705
1,897,374
Mitsubishi Chemical Holdings Corp.
 
505,057
2,946,436
Mitsubishi Corp.
 
1,386,953
31,719,035
Mitsubishi Electric Corp.
 
776,892
13,541,170
Mitsubishi Estate Co. Ltd.
 
451,871
8,280,407
Mitsubishi Estate Logistics REIT Investment Corp.
 
212
543,390
Mitsubishi Gas Chemical Co., Inc.
 
63,845
1,129,687
Mitsubishi Heavy Industries Ltd.
 
1,286,460
11,502,389
Mitsubishi Logistics Corp.
 
21,500
713,289
Mitsubishi Materials Corp.
 
53,300
1,041,620
Mitsubishi Motors Corp. of Japan
 
270,734
857,913
Mitsubishi Pencil Co. Ltd.
 
13,500
205,935
Mitsubishi Shokuhin Co. Ltd.
 
8,300
294,304
Mitsubishi UFJ Financial Group, Inc.
 
4,462,939
44,456,927
Mitsubishi UFJ Lease & Finance Co. Ltd.
 
309,980
2,007,445
Mitsuboshi Belting Ltd.
 
11,700
358,847
Mitsui & Co. Ltd.
 
519,782
25,092,837
Mitsui Chemicals, Inc.
 
68,600
1,952,556
Mitsui Fudosan Co. Ltd.
 
1,071,920
10,908,997
Mitsui Fudosan Logistics Park, Inc.
 
240
688,523
Mitsui High-Tec, Inc.
 
8,400
376,118
Mitsui Mining & Smelting Co. Ltd.
 
23,200
727,480
Mitsui OSK Lines Ltd.
 
137,400
4,361,019
Mitsui-Soko Co. Ltd.
 
11,600
342,163
Miura Co. Ltd.
 
37,055
582,996
MIXI, Inc.
 
18,900
288,449
Mizuho Financial Group, Inc.
 
968,968
18,729,287
Mizuho Leasing Co. Ltd.
 
61,500
439,321
Mizuno Corp.
 
7,900
383,417
Mochida Pharmaceutical Co. Ltd.
 
14,500
292,510
Monex Group, Inc.
 
76,900
397,334
Money Forward, Inc. (a)
 
17,900
623,303
MonotaRO Co. Ltd.
 
102,300
1,226,053
Mori Hills REIT Investment Corp.
 
620
539,536
MORI TRUST Sogo (REIT), Inc.
 
1,054
489,020
Morinaga & Co. Ltd.
 
32,300
521,992
Morinaga Milk Industry Co. Ltd.
 
30,100
589,822
MOS Food Services, Inc.
 
13,500
298,594
MS&AD Insurance Group Holdings, Inc.
 
517,691
9,307,590
Murata Manufacturing Co. Ltd.
 
691,806
12,640,799
Musashi Seimitsu Industry Co. Ltd.
 
23,200
245,836
Nabtesco Corp.
 
45,600
752,033
Nagase & Co. Ltd.
 
39,600
685,094
Nagawa Co. Ltd.
 
5,400
252,194
Nagoya Railroad Co. Ltd.
 
75,916
990,223
Nakanishi, Inc.
 
29,100
447,032
Namura Shipbuilding Co. Ltd.
 
20,900
260,594
Nankai Electric Railway Co. Ltd.
 
41,800
727,841
NEC Corp.
 
98,600
7,138,836
NEC Networks & System Integration Corp.
 
29,000
481,749
Net One Systems Co. Ltd.
 
34,600
578,949
Nexon Co. Ltd.
 
138,800
2,164,079
Nextage Co. Ltd.
 
19,500
342,357
NGK Insulators Ltd.
 
91,300
1,243,716
NH Foods Ltd.
 
33,713
1,109,030
NHK Spring Co. Ltd.
 
80,987
820,791
Nichias Corp.
 
24,000
657,833
Nichiha Corp.
 
12,800
298,459
Nichirei Corp.
 
43,110
1,079,328
Nidec Corp.
 
167,790
7,858,087
Nifco, Inc.
 
32,000
773,550
Nihon Kohden Corp.
 
33,700
916,251
Nihon M&A Center Holdings, Inc.
 
126,000
689,640
Nihon Parkerizing Co. Ltd.
 
41,100
316,064
Nikkon Holdings Co. Ltd.
 
24,600
482,852
Nikon Corp.
 
124,500
1,287,246
Nintendo Co. Ltd.
 
417,380
20,355,207
Nippn Corp.
 
22,900
353,391
Nippon Accommodations Fund, Inc.
 
206
857,890
Nippon Building Fund, Inc.
 
607
2,319,222
Nippon Ceramic Co. Ltd.
 
16,900
289,229
Nippon Densetsu Kogyo Co. Ltd.
 
21,500
295,098
Nippon Electric Glass Co. Ltd.
 
32,300
799,234
Nippon Express Holdings, Inc.
 
29,566
1,512,546
Nippon Gas Co. Ltd.
 
42,800
698,034
Nippon Kayaku Co. Ltd.
 
62,700
510,719
Nippon Light Metal Holding Co. Ltd.
 
28,540
338,656
Nippon Paint Holdings Co. Ltd.
 
381,085
2,439,332
Nippon Paper Industries Co. Ltd. (a)
 
43,945
305,531
Nippon Pillar Packing Co. Ltd.
 
8,000
315,116
Nippon Prologis REIT, Inc.
 
922
1,591,011
Nippon REIT Investment Corp.
 
193
435,899
Nippon Sanso Holdings Corp.
 
69,800
2,073,228
Nippon Seiki Co. Ltd.
 
24,500
222,787
Nippon Shinyaku Co. Ltd.
 
23,100
639,184
Nippon Shokubai Co. Ltd.
 
43,400
412,521
Nippon Soda Co. Ltd.
 
10,000
366,837
Nippon Steel & Sumitomo Metal Corp.
 
341,083
7,646,713
Nippon Telegraph & Telephone Corp.
 
11,878,000
12,824,230
Nippon Television Network Corp.
 
22,800
332,821
Nippon Yusen KK
 
184,100
5,226,685
Nipro Corp.
 
67,138
543,207
Nishi-Nippon Financial Holdings, Inc.
 
51,700
653,615
Nishi-Nippon Railroad Co. Ltd.
 
24,900
387,918
Nishimatsu Construction Co. Ltd.
 
14,500
419,265
Nishimatsuya Chain Co. Ltd.
 
17,600
244,063
Nishio Holdings Co. Ltd.
 
11,100
283,625
Nissan Chemical Corp.
 
51,200
1,745,315
Nissan Motor Co. Ltd.
 
969,848
3,549,356
Nissan Shatai Co. Ltd.
 
33,600
217,183
Nissha Co. Ltd.
 
25,600
275,551
Nisshin Oillio Group Ltd.
 
11,800
379,070
Nisshin Seifun Group, Inc.
 
81,000
1,056,636
Nisshinbo Holdings, Inc.
 
60,900
461,684
Nissin Food Holdings Co. Ltd.
 
80,900
2,158,861
Nissui Corp.
 
117,400
704,428
Niterra Co. Ltd.
 
61,000
2,000,669
Nitori Holdings Co. Ltd.
 
32,200
4,309,425
Nittetsu Mining Co. Ltd.
 
6,800
213,733
Nitto Boseki Co. Ltd.
 
9,700
347,669
Nitto Denko Corp.
 
57,742
4,774,437
Nitto Kogyo Corp.
 
12,100
324,559
Noevir Holdings Co. Ltd.
 
8,600
284,552
NOF Corp.
 
80,200
1,075,958
Nojima Co. Ltd.
 
30,200
360,828
NOK Corp.
 
36,900
534,018
NOMURA Co. Ltd.
 
40,200
216,372
Nomura Holdings, Inc.
 
1,196,354
6,807,238
Nomura Micro Science Co. Ltd. (b)
 
10,800
345,322
Nomura Real Estate Holdings, Inc.
 
45,000
1,259,871
Nomura Real Estate Master Fund, Inc.
 
1,634
1,561,974
Nomura Research Institute Ltd.
 
155,010
3,750,916
Noritake Co. Ltd.
 
9,400
246,764
North Pacific Bank Ltd.
 
127,500
366,686
NS Solutions Corp. (b)
 
13,600
442,974
NSD Co. Ltd.
 
34,800
680,200
NSK Ltd.
 
155,000
852,405
NTN Corp.
 
197,600
392,142
NTT Data Corp.
 
252,800
3,953,241
Ntt Ud (REIT) Investment Corp.
 
620
475,331
Nxera Pharma Co. Ltd. (a)
 
34,212
316,455
Obayashi Corp.
 
260,400
2,906,271
OBIC Business Consultants Ltd.
 
12,800
523,038
OBIC Co. Ltd.
 
27,841
3,576,637
Odakyu Electric Railway Co. Ltd.
 
127,700
1,435,691
Ogaki Kyoritsu Bank Ltd.
 
21,000
300,785
Ohsho Food Service Corp.
 
5,100
252,756
Oji Holdings Corp.
 
353,600
1,385,057
Okamura Corp.
 
24,900
377,091
Okasan Securities Group, Inc.
 
70,334
336,932
Oki Electric Industry Co. Ltd.
 
41,900
299,448
Okinawa Cellular Telephone Co.
 
12,500
268,587
Okuma Corp.
 
9,700
435,665
Okumura Corp.
 
13,500
422,360
Olympus Corp.
 
485,500
6,762,880
OMRON Corp.
 
71,000
2,436,890
One (REIT), Inc.
 
135
227,283
Ono Pharmaceutical Co. Ltd.
 
148,080
2,132,851
Open House Group Co. Ltd.
 
32,100
976,169
Open Up Group, Inc.
 
24,200
306,561
Optex Group Co. Ltd.
 
20,900
245,350
Oracle Corp. Japan
 
15,500
1,163,191
Organo Corp.
 
10,800
495,443
Orient Corp.
 
25,550
166,749
Oriental Land Co. Ltd.
 
438,370
12,095,389
ORIX Corp.
 
468,320
9,584,364
ORIX JREIT, Inc.
 
1,059
1,116,271
Osaka Gas Co. Ltd.
 
149,800
3,330,936
Osaka Soda Co. Ltd.
 
6,300
369,485
OSAKA Titanium technologies Co. Ltd. (b)
 
14,800
230,572
OSG Corp.
 
37,800
487,480
Otsuka Corp.
 
92,200
1,833,685
Otsuka Holdings Co. Ltd.
 
168,418
7,201,025
Pacific Industrial Co. Ltd.
 
29,600
305,301
Pal Group Holdings Co. Ltd.
 
19,800
236,296
PALTAC Corp.
 
12,700
384,390
Pan Pacific International Holdings Ltd.
 
152,892
3,590,826
Panasonic Holdings Corp.
 
887,389
7,745,536
Paramount Bed Holdings Co. Ltd.
 
19,400
330,547
Park24 Co. Ltd. (a)
 
53,740
578,758
Penta-Ocean Construction Co. Ltd.
 
124,200
623,298
PeptiDream, Inc. (a)
 
43,300
551,739
Persol Holdings Co. Ltd.
 
769,600
1,064,595
Pigeon Corp.
 
63,200
576,070
Pilot Corp.
 
12,500
334,559
Piolax, Inc.
 
16,300
276,914
PKSHA Technology, Inc. (a)
 
7,700
212,107
Plus Alpha Consulting Co. Ltd.
 
13,700
174,266
Pola Orbis Holdings, Inc. (b)
 
42,689
391,721
Prestige International, Inc.
 
72,100
307,908
Raito Kogyo Co. Ltd.
 
25,000
324,843
Raksul, Inc. (a)
 
25,700
145,550
Rakus Co. Ltd.
 
38,700
391,183
Rakuten Bank Ltd.
 
40,100
812,670
Rakuten Group, Inc. (a)
 
606,095
2,914,981
Recruit Holdings Co. Ltd.
 
579,554
24,959,861
Relo Group, Inc.
 
46,100
400,729
Renesas Electronics Corp.
 
591,155
9,597,846
Rengo Co. Ltd.
 
81,200
608,827
Resona Holdings, Inc.
 
857,046
5,419,743
Resonac Holdings Corp.
 
71,482
1,549,940
Resorttrust, Inc.
 
33,500
554,437
Ricoh Co. Ltd.
 
221,700
1,912,619
Ricoh Leasing Co. Ltd.
 
6,400
217,519
Riken Keiki Co. Ltd.
 
13,000
318,093
Riken Vitamin Co. Ltd.
 
17,100
294,684
Rinnai Corp.
 
39,883
864,164
Riso Kagaku Corp.
 
10,700
199,733
ROHM Co. Ltd.
 
133,000
1,911,856
Rohto Pharmaceutical Co. Ltd.
 
78,800
1,537,422
Roland Corp.
 
7,300
198,449
Rorze Corp.
 
4,400
762,850
Round One Corp.
 
83,100
365,035
Royal Holdings Co. Ltd. (b)
 
19,400
303,262
Ryohin Keikaku Co. Ltd.
 
103,030
1,659,714
Ryoyo Ryosan Holdings, Inc.
 
10,400
182,585
Saizeriya Co. Ltd.
 
12,100
408,586
Sakata Seed Corp.
 
14,300
329,476
Sakura Internet, Inc. (b)
 
7,900
294,656
SAMTY Co. Ltd.
 
15,600
266,118
San-A Co. Ltd.
 
10,100
303,115
San-Ai Obbli Co. Ltd.
 
23,000
301,731
Sangetsu Corp.
 
21,600
459,189
Sanken Electric Co. Ltd.
 
10,000
431,735
Sanki Engineering Co. Ltd.
 
20,200
283,562
Sankyo Co. Ltd. (Gunma)
 
82,900
900,461
Sankyu, Inc.
 
20,600
714,194
Sanrio Co. Ltd.
 
65,600
1,106,045
Sansan, Inc. (a)
 
30,900
283,778
Santen Pharmaceutical Co. Ltd.
 
140,260
1,354,784
Sanwa Holdings Corp.
 
76,600
1,250,946
Sapporo Holdings Ltd.
 
26,300
950,631
Sato Holding Corp.
 
19,300
267,436
Sawai Group Holdings Co. Ltd.
 
17,200
640,966
SBI Holdings, Inc. Japan
 
99,200
2,415,336
SBI Sumishin Net Bank Ltd.
 
25,900
387,295
Screen Holdings Co. Ltd.
 
32,800
3,384,210
SCSK Corp.
 
62,400
1,134,382
Secom Co. Ltd.
 
83,233
5,781,572
Sega Sammy Holdings, Inc.
 
66,319
868,047
Seibu Holdings, Inc.
 
90,300
1,405,438
Seiko Epson Corp.
 
115,773
1,904,464
Seiko Group Corp.
 
12,200
322,705
Seino Holdings Co. Ltd.
 
51,200
685,934
Seiren Co. Ltd.
 
19,800
329,829
Sekisui Chemical Co. Ltd.
 
150,400
2,188,026
Sekisui House (REIT), Inc.
 
1,668
854,682
Sekisui House Ltd.
 
236,380
5,432,097
Sekisui Jushi Corp.
 
15,900
259,869
SENKO Co. Ltd.
 
53,000
388,418
Senshu Ikeda Holdings, Inc.
 
112,300
285,876
Seria Co. Ltd.
 
20,300
344,110
Seven & i Holdings Co. Ltd.
 
907,087
11,720,653
Seven Bank Ltd.
 
275,300
492,120
SG Holdings Co. Ltd.
 
128,300
1,501,763
Sharp Corp. (a)
 
108,300
568,485
Shibaura Machine Co. Ltd.
 
11,600
259,682
Shibaura Mechatronics Corp.
 
5,900
224,719
SHIFT, Inc. (a)
 
4,900
450,738
Shiga Bank Ltd.
 
18,600
481,032
Shikoku Electric Power Co., Inc.
 
75,900
629,033
Shimadzu Corp.
 
95,400
2,591,833
Shimamura Co. Ltd.
 
18,200
897,203
SHIMANO, Inc.
 
30,965
5,032,216
SHIMIZU Corp.
 
210,600
1,304,553
Shin-Etsu Chemical Co. Ltd.
 
724,075
28,028,176
Shin-Etsu Polymer Co. Ltd.
 
23,700
231,346
Shinko Electric Industries Co. Ltd.
 
26,400
926,911
Shinmaywa Industries Ltd.
 
30,400
231,776
Shionogi & Co. Ltd.
 
98,600
4,604,696
Ship Healthcare Holdings, Inc.
 
34,500
513,288
Shiseido Co. Ltd.
 
162,055
4,337,930
Shizuoka Financial Group
 
192,700
1,798,632
SHO-BOND Holdings Co. Ltd.
 
16,900
652,626
Shochiku Co. Ltd.
 
4,800
290,883
Shoei Co. Ltd.
 
23,300
298,515
Showa Sangyo Co. Ltd.
 
10,700
239,886
Simplex Holdings, Inc.
 
19,200
310,186
SKY Perfect JSAT Holdings, Inc.
 
70,400
414,283
Skylark Holdings Co. Ltd.
 
93,000
1,325,312
SMC Corp.
 
23,067
12,118,633
SMS Co., Ltd.
 
30,400
420,660
Socionext, Inc.
 
72,200
2,110,813
SoftBank Corp.
 
1,141,800
13,772,033
SoftBank Group Corp.
 
414,212
20,371,194
Sohgo Security Services Co., Ltd.
 
154,800
860,957
Sojitz Corp.
 
90,440
2,328,546
Sompo Holdings, Inc.
 
358,157
7,087,974
Sony Group Corp.
 
507,105
41,912,923
SOSiLA Logistics REIT, Inc.
 
356
280,291
Sotetsu Holdings, Inc.
 
36,000
573,864
Square Enix Holdings Co. Ltd.
 
35,300
1,275,995
Stanley Electric Co. Ltd.
 
52,339
926,243
Star Asia Investment Corp.
 
998
389,342
Star Micronics Co. Ltd.
 
23,000
273,093
Starts Corp., Inc.
 
14,400
324,849
Subaru Corp.
 
242,925
5,424,270
Sugi Holdings Co. Ltd.
 
45,100
661,720
Sumco Corp.
 
142,300
2,122,165
Sumitomo Bakelite Co. Ltd.
 
27,500
783,281
Sumitomo Chemical Co. Ltd.
 
628,500
1,342,766
Sumitomo Corp.
 
414,700
10,905,436
Sumitomo Electric Industries Ltd.
 
285,500
4,412,779
Sumitomo Forestry Co. Ltd.
 
62,323
1,920,153
Sumitomo Heavy Industries Ltd.
 
44,747
1,246,952
Sumitomo Metal Mining Co. Ltd.
 
97,600
3,260,684
Sumitomo Mitsui Construction Co. Ltd.
 
88,560
228,079
Sumitomo Mitsui Financial Group, Inc.
 
510,533
29,000,221
Sumitomo Mitsui Trust Holdings, Inc.
 
263,600
5,542,146
Sumitomo Osaka Cement Co. Ltd.
 
15,003
372,497
Sumitomo Realty & Development Co. Ltd.
 
114,387
3,958,239
Sumitomo Rubber Industries Ltd.
 
69,800
847,222
Sundrug Co. Ltd.
 
29,541
857,788
Suntory Beverage & Food Ltd.
 
55,900
1,818,721
Suruga Bank Ltd.
 
72,500
442,170
Suzuken Co. Ltd.
 
26,100
770,831
Suzuki Motor Corp.
 
631,760
7,357,342
SWCC Showa Holdings Co. Ltd.
 
13,200
348,045
Sysmex Corp.
 
205,000
3,278,027
Systena Corp.
 
151,900
253,102
T Hasegawa Co. Ltd.
 
18,500
361,236
T&D Holdings, Inc.
 
198,800
3,243,886
Tadano Ltd.
 
44,800
359,496
Taiheiyo Cement Corp.
 
47,791
1,093,100
Taikisha Ltd.
 
10,700
315,593
Taisei Corp.
 
68,400
2,504,152
Taiyo Holdings Co. Ltd.
 
17,800
362,735
Taiyo Yuden Co. Ltd.
 
51,900
1,215,632
Takara Bio, Inc.
 
27,800
179,730
Takara Holdings, Inc.
 
64,269
422,210
Takara Leben Real Estate Investment Corp.
 
409
265,071
Takara Standard Co. Ltd.
 
20,200
246,423
Takasago Thermal Engineering Co. Ltd.
 
17,900
600,082
Takashimaya Co. Ltd.
 
59,300
840,595
Takeda Pharmaceutical Co. Ltd.
 
633,570
16,651,532
Takeuchi Manufacturing Co. Ltd.
 
14,900
565,205
Takuma Co. Ltd.
 
31,700
396,686
Tama Home Co. Ltd. (b)
 
9,100
251,804
Tamron Co. Ltd.
 
8,600
399,906
Tbs Holdings, Inc.
 
14,300
372,683
TDK Corp.
 
156,343
6,974,617
Techmatrix Corp.
 
18,700
198,183
TechnoPro Holdings, Inc.
 
44,800
763,096
Teijin Ltd.
 
74,100
722,896
Terumo Corp.
 
542,000
9,194,559
The Awa Bank Ltd.
 
17,500
298,167
The Hachijuni Bank Ltd.
 
148,200
988,633
The Hyakugo Bank Ltd.
 
103,000
423,596
The Keiyo Bank Ltd.
 
56,200
276,314
The Kiyo Bank Ltd.
 
32,000
367,609
The Monogatari Corp.
 
13,600
367,448
The Musashino Bank Ltd.
 
14,600
285,887
The Nanto Bank Ltd.
 
14,300
274,843
The San-In Godo Bank Ltd.
 
61,600
479,829
The Sumitomo Warehouse Co. Ltd.
 
22,400
370,945
The Toho Bank Ltd.
 
107,000
229,742
THK Co. Ltd.
 
47,900
1,045,136
TIS, Inc.
 
89,400
1,909,278
TKC Corp.
 
12,200
280,759
TOA Corp.
 
28,100
194,152
Toagosei Co. Ltd.
 
37,700
379,238
Tobu Railway Co. Ltd.
 
76,800
1,523,749
Tocalo Co. Ltd.
 
30,900
356,064
Toda Corp.
 
98,900
645,967
Toei Animation Co. Ltd.
 
18,400
304,526
Toei Co. Ltd.
 
16,900
401,168
Toho Co. Ltd.
 
45,800
1,534,409
Toho Gas Co. Ltd.
 
30,700
788,391
Toho Holdings Co. Ltd.
 
21,300
510,290
Toho Titanium Co. Ltd. (b)
 
17,600
151,796
Tohoku Electric Power Co., Inc.
 
187,100
1,444,423
Tokai Carbon Co. Ltd.
 
91,400
606,383
TOKAI Holdings Corp.
 
43,300
266,323
Tokai Rika Co. Ltd.
 
24,600
334,963
Tokai Tokyo Financial Holdings
 
89,100
326,510
Tokio Marine Holdings, Inc.
 
724,579
22,901,330
Tokuyama Corp.
 
30,035
619,746
Tokyo Century Corp.
 
63,000
627,060
Tokyo Electric Power Co., Inc. (a)
 
615,628
3,829,378
Tokyo Electron Device Ltd.
 
8,900
319,560
Tokyo Electron Ltd.
 
189,769
41,625,055
Tokyo Gas Co. Ltd.
 
147,435
3,306,564
Tokyo Ohka Kogyo Co. Ltd.
 
39,600
1,050,124
Tokyo Seimitsu Co. Ltd.
 
16,300
1,060,686
Tokyo Steel Manufacturing Co. Ltd.
 
27,800
294,898
Tokyo Tatemono Co. Ltd.
 
77,500
1,289,599
Tokyo TY Financial Group, Inc.
 
11,700
347,299
Tokyotokeiba Co. Ltd.
 
8,600
237,054
Tokyu Construction Co. Ltd.
 
50,300
270,681
Tokyu Corp.
 
202,400
2,395,922
Tokyu Fudosan Holdings Corp.
 
247,200
1,811,050
Tokyu REIT, Inc.
 
400
411,572
TOMONY Holdings, Inc.
 
88,900
234,989
Tomy Co. Ltd.
 
36,300
580,406
Topcon Corp.
 
41,860
491,657
Toppan Holdings, Inc.
 
92,500
2,194,466
Topre Corp.
 
17,200
277,637
Toray Industries, Inc.
 
549,300
2,510,698
TORIDOLL Holdings Corp.
 
19,200
461,385
Toshiba Tec Corp.
 
15,600
313,777
Tosoh Corp.
 
104,400
1,439,271
Totetsu Kogyo Co. Ltd.
 
12,400
247,716
Toto Ltd.
 
58,100
1,572,447
Towa Corp.
 
8,300
478,002
Towa Pharmaceutical Co. Ltd.
 
12,700
228,604
Toyo Construction Co. Ltd.
 
27,200
220,388
Toyo Seikan Group Holdings Ltd.
 
53,400
825,422
Toyo Suisan Kaisha Ltd.
 
36,036
2,253,487
Toyo Tanso Co. Ltd.
 
5,800
286,088
Toyo Tire Corp.
 
47,700
902,441
Toyobo Co. Ltd.
 
44,500
315,786
Toyoda Gosei Co. Ltd.
 
27,500
532,419
Toyota Boshoku Corp.
 
35,400
523,507
Toyota Industries Corp.
 
58,900
5,597,083
Toyota Motor Corp.
 
4,265,560
97,291,434
Toyota Tsusho Corp.
 
85,349
5,426,484
Transcosmos, Inc.
 
12,400
268,054
Trend Micro, Inc.
 
54,100
2,665,951
Tri Chemical Laboratories, Inc.
 
11,500
319,900
Trusco Nakayama Corp.
 
25,200
416,866
TS tech Co. Ltd.
 
40,200
494,988
Tsubakimoto Chain Co.
 
11,000
378,708
Tsumura & Co.
 
23,684
570,707
Tsuruha Holdings, Inc.
 
16,200
1,022,607
U-Next Holdings Co. Ltd.
 
9,800
273,857
Uacj Corp.
 
14,300
436,874
Ube Corp.
 
38,200
698,360
Ulvac, Inc.
 
19,159
1,145,627
Unicharm Corp.
 
160,500
4,768,961
United Urban Investment Corp.
 
1,114
1,067,428
Ushio, Inc.
 
37,100
488,008
USS Co. Ltd.
 
169,300
1,293,333
UT Group Co. Ltd. (a)
 
13,100
274,706
Valor Holdings Co. Ltd.
 
18,200
278,835
Visional, Inc. (a)
 
9,400
428,906
Wacoal Holdings Corp.
 
17,000
372,072
Wacom Co. Ltd.
 
61,900
237,728
WealthNavi, Inc. (a)(b)
 
17,500
158,619
Welcia Holdings Co. Ltd.
 
39,600
582,231
West Holdings Corp. (b)
 
11,149
186,030
West Japan Railway Co.
 
174,312
3,308,694
Workman Co. Ltd. (b)
 
9,500
233,392
Yakult Honsha Co. Ltd.
 
104,300
2,040,082
Yamada Holdings Co. Ltd.
 
229,510
656,992
Yamaguchi Financial Group, Inc.
 
80,800
816,210
Yamaha Corp.
 
55,700
1,173,777
Yamaha Motor Co. Ltd.
 
358,821
3,346,804
Yamato Holdings Co. Ltd.
 
110,700
1,461,980
Yamato Kogyo Co. Ltd.
 
16,300
875,786
Yamazaki Baking Co. Ltd.
 
49,200
1,190,807
Yamazen Co. Ltd.
 
36,800
323,195
Yaoko Co. Ltd.
 
7,900
427,093
Yaskawa Electric Corp.
 
96,900
3,992,535
Yellow Hat Ltd.
 
21,000
272,980
Yodogawa Steel Works Ltd.
 
9,400
295,028
Yokogawa Bridge Holdings Corp.
 
16,700
302,894
Yokogawa Electric Corp.
 
92,312
2,039,708
Yokohama Rubber Co. Ltd.
 
47,700
1,248,510
YONEX Co. Ltd.
 
32,200
256,777
Yoshinoya Holdings Co. Ltd.
 
27,100
496,307
Yuasa Trading Co. Ltd.
 
9,600
350,811
Zenkoku Hosho Co. Ltd.
 
21,300
747,885
Zensho Holdings Co. Ltd.
 
39,200
1,519,361
Zeon Corp.
 
61,100
608,930
Zojirushi Thermos
 
25,200
245,814
ZOZO, Inc.
 
54,400
1,171,693
Zuken, Inc.
 
8,600
224,721
TOTAL JAPAN
 
 
1,867,524,180
Jordan - 0.0%
 
 
 
Hikma Pharmaceuticals PLC
 
68,753
1,652,914
Korea (South) - 3.2%
 
 
 
ABL Bio, Inc. (a)
 
17,881
333,176
Advanced Nano Products Co. Ltd.
 
4,151
345,939
Alteogen, Inc. (a)
 
15,036
1,910,140
AMOREPACIFIC Corp.
 
12,192
1,481,866
AMOREPACIFIC Group, Inc.
 
15,021
361,606
Ananti, Inc. (a)(b)
 
62,745
286,920
BGF Retail Co. Ltd.
 
4,487
421,831
Bioneer Corp. (a)
 
17,890
389,115
BNK Financial Group, Inc.
 
122,378
736,785
Celltrion Pharm, Inc.
 
7,819
538,246
Celltrion, Inc.
 
61,640
8,346,320
CHA Biotech Co. Ltd. (a)
 
23,060
283,032
Cheil Worldwide, Inc.
 
35,188
478,588
Chong Kun Dang Pharmaceutical Corp.
 
3,488
261,076
CJ CheilJedang Corp.
 
3,883
938,554
CJ Corp.
 
5,882
537,889
CJ ENM Co. Ltd.
 
5,009
273,272
CJ Logistics Corp.
 
4,185
368,149
Classys, Inc.
 
9,743
264,416
Cosmax, Inc.
 
3,755
377,787
Cosmo AM&T Co. Ltd. (a)
 
10,083
1,085,900
Cosmochemical Co. Ltd. (a)
 
12,485
284,711
Coway Co. Ltd.
 
23,300
930,935
Creative & Innovative System (a)
 
32,597
266,833
CS Wind Corp.
 
11,542
431,275
Daeduck Electronics Co. Ltd.
 
17,282
285,955
Daejoo Electronic Materials Co. Ltd.
 
4,899
327,641
Daewoo Engineering & Construction Co. Ltd. (a)
 
122,969
337,873
Daewoong Pharmaceutical Co. Ltd.
 
3,542
284,918
Daishin Securities Co. Ltd.
 
10,166
114,854
DB HiTek Co. Ltd.
 
16,020
472,075
Db Insurance Co. Ltd.
 
19,287
1,349,097
Delivery Hero AG (a)(d)
 
71,491
2,000,142
Dentium Co. Ltd.
 
3,325
309,349
DGB Financial Group Co. Ltd.
 
77,204
470,269
DL E&C Co. Ltd.
 
14,794
395,474
DL Holdings Co. Ltd.
 
6,405
245,092
Dongjin Semichem Co. Ltd.
 
17,726
546,497
Dongsuh Co., Inc.
 
27,276
373,988
Doosan Bobcat, Inc.
 
23,546
877,567
Doosan Co. Ltd.
 
3,418
372,320
Doosan Fuel Cell Co. Ltd. (a)(b)
 
22,057
314,376
Doosan Heavy Industries & Construction Co. Ltd. (a)
 
186,604
2,246,821
Douzone Bizon Co. Ltd.
 
7,945
339,973
E-Mart, Inc.
 
8,829
403,781
Ecopro BM Co. Ltd.
 
19,769
3,351,020
Ecopro Co. Ltd.
 
40,410
3,046,015
Ecopro HN Co. Ltd.
 
4,670
228,770
Ecopro Materials Co. Ltd.
 
5,700
470,807
Enchem Co. Ltd. (a)
 
3,420
697,666
EO Technics Co. Ltd.
 
3,819
646,527
Eugene Technology Co. Ltd.
 
7,406
280,929
F&F Co. Ltd.
 
8,096
382,165
Fila Holdings Corp.
 
20,501
601,811
Foosung Co. Ltd.
 
44,396
246,348
Green Cross Corp.
 
4,584
375,571
GS Engineering & Construction Corp.
 
35,017
413,934
GS Holdings Corp.
 
20,331
655,497
GS Retail Co. Ltd.
 
29,248
418,089
Hana Financial Group, Inc.
 
118,817
4,997,293
Hana Micron, Inc.
 
16,811
324,907
Hana Tour Service, Inc.
 
7,026
313,355
HanAll BioPharma Co. Ltd. (a)
 
14,848
383,597
Hanjin Kal Corp.
 
11,260
481,906
Hankook Tire Co. Ltd.
 
31,259
1,322,678
Hanmi Pharm Co. Ltd.
 
3,230
733,744
Hanmi Science Co. Ltd.
 
9,762
237,782
Hanmi Semiconductor Co. Ltd.
 
17,761
1,686,587
Hanon Systems
 
88,582
353,766
Hansol Chemical Co. Ltd.
 
4,344
600,845
Hanwha Aerospace Co. Ltd.
 
14,466
2,191,186
Hanwha Corp.
 
23,225
454,497
Hanwha Life Insurance Co. Ltd.
 
148,569
314,262
Hanwha Ocean Co. Ltd. (a)
 
32,548
747,367
Hanwha Solutions Corp.
 
46,480
843,578
Hanwha Systems Co. Ltd.
 
32,386
456,350
HD Hyundai Co. Ltd.
 
19,129
923,499
HD Hyundai Construction Equipment Co. Ltd.
 
6,044
236,957
HD Hyundai Electric Co. Ltd.
 
8,836
1,554,436
HD Hyundai Heavy Industries Co. Ltd. (a)
 
9,844
970,848
HD Hyundai Infracore Co. Ltd.
 
62,542
371,037
Hd Hyundai Mipo (a)
 
11,933
640,759
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (a)
 
17,664
1,663,103
HDC Hyundai Development Co.
 
19,289
243,952
Hite Jinro Co. Ltd.
 
20,004
302,446
HK inno.N Corp.
 
10,938
304,687
HL Mando Co. Ltd.
 
18,122
509,648
HLB Life Science Co. Ltd. (a)
 
36,562
451,038
HLB, Inc.
 
47,387
3,775,625
HMM Co. Ltd.
 
99,725
1,135,386
Hotel Shilla Co.
 
14,510
619,838
HPSP Co. Ltd.
 
17,164
479,206
HUGEL, Inc. (a)
 
2,872
437,864
HYBE Co. Ltd.
 
8,551
1,236,905
Hyosung Advanced Materials Co.
 
1,400
368,349
Hyosung Corp.
 
7,637
330,693
Hyosung Heavy Industries Co. Ltd.
 
2,138
475,768
Hyosung TNC Co. Ltd.
 
1,265
334,233
Hyundai Bioscience Co. Ltd. (a)
 
16,963
246,390
Hyundai Department Store Co. Ltd.
 
7,609
287,010
Hyundai Elevator Co. Ltd.
 
11,159
324,405
Hyundai Engineering & Construction Co. Ltd.
 
34,825
884,690
Hyundai Glovis Co. Ltd.
 
8,187
1,068,762
Hyundai Marine & Fire Insurance Co. Ltd.
 
26,632
599,509
Hyundai Mobis
 
24,755
4,038,563
Hyundai Motor Co. Ltd.
 
50,008
8,970,054
Hyundai Rotem Co. Ltd.
 
32,830
877,737
Hyundai Steel Co.
 
37,838
876,173
Hyundai Wia Corp.
 
8,976
372,585
Industrial Bank of Korea
 
119,877
1,201,813
ISC Co. Ltd.
 
4,545
237,374
Isu Specialty Chemical Co. Ltd. (c)
 
1,655
405,397
Isupetasys Co. Ltd.
 
19,745
552,335
JB Financial Group Co. Ltd.
 
50,187
480,188
Jeju Semiconductor Corp. (a)
 
12,428
196,877
JR Global (REIT)
 
107,562
312,273
Jusung Engineering Co. Ltd.
 
14,285
352,815
JYP Entertainment Corp.
 
12,650
603,342
Kakao Corp.
 
126,281
4,373,320
Kakao Games Corp. (a)
 
20,986
326,827
Kakao Pay Corp. (a)
 
12,672
318,459
KakaoBank Corp.
 
69,117
1,236,201
Kangwon Land, Inc.
 
47,264
520,812
KB Financial Group, Inc.
 
154,998
8,383,083
KCC Corp.
 
2,056
371,138
KEPCO E&C
 
8,248
387,780
KEPCO Plant Service & Engineering Co. Ltd.
 
13,497
341,510
Kia Corp.
 
105,677
8,928,168
Kiwoom Securities Co. Ltd.
 
6,234
590,345
Koh Young Technology, Inc.
 
23,529
273,603
Kolmar Korea Co. Ltd.
 
8,667
312,015
Kolon Industries, Inc.
 
11,305
324,496
Korea Aerospace Industries Ltd.
 
31,285
1,161,638
Korea Electric Power Corp. (a)
 
105,755
1,609,963
Korea Gas Corp.
 
13,531
268,446
Korea Investment Holdings Co. Ltd.
 
18,102
872,485
Korea Zinc Co. Ltd.
 
3,536
1,174,595
Korean Air Lines Co. Ltd.
 
81,841
1,230,722
Korean Reinsurance Co.
 
60,588
357,113
KRAFTON, Inc. (a)
 
11,839
2,031,867
KT Corp.
 
29,191
727,789
KT&G Corp.
 
41,189
2,646,616
Kum Yang Co. Ltd. (a)
 
14,237
952,600
Kumho Petro Chemical Co. Ltd.
 
6,791
673,559
Kumho Tire Co., Inc. (a)
 
58,070
293,213
L&F Co. Ltd.
 
10,391
1,212,136
Lake Materials Co. Ltd. (a)
 
17,733
289,455
Leeno Industrial, Inc.
 
4,250
755,125
LG Chemical Ltd.
 
19,029
5,452,645
LG Corp.
 
38,836
2,209,699
LG Display Co. Ltd. (a)
 
160,046
1,208,005
LG Electronics, Inc.
 
43,435
2,884,765
LG Energy Solution (a)
 
18,920
5,249,167
LG H & H Co. Ltd.
 
3,955
1,188,337
LG Innotek Co. Ltd.
 
6,320
1,001,769
LG Uplus Corp.
 
105,009
743,739
LIG Nex1 Co. Ltd.
 
5,327
614,984
LigaChem Biosciences, Inc. (a)
 
10,635
519,067
Lotte Chemical Corp.
 
8,268
637,141
Lotte Confectionery Co. Ltd.
 
15,760
313,257
Lotte Energy Materials Corp.
 
11,729
380,456
Lotte Fine Chemical Co. Ltd.
 
9,083
293,989
Lotte Shopping Co. Ltd.
 
5,850
292,496
LS Corp.
 
8,208
808,743
LS Electric Co. Ltd.
 
7,998
1,006,522
Lunit, Inc.
 
9,387
376,488
LX International Corp.
 
16,801
337,114
Lx Semicon Co. Ltd.
 
5,740
301,324
Medytox, Inc.
 
2,779
268,436
Meritz Financial Holdings Co.
 
41,492
2,365,766
Mezzion Pharma Co. Ltd. (a)
 
10,945
295,868
Mirae Asset Securities Co. Ltd.
 
106,508
578,853
Myoung Shin Industrial Co. Ltd.
 
25,542
268,152
NAVER Corp.
 
52,559
6,913,101
NCSOFT Corp.
 
6,071
764,926
Netmarble Corp. (a)(d)
 
11,137
444,673
NEXTIN, Inc.
 
4,898
229,842
NH Investment & Securities Co. Ltd.
 
69,574
623,621
NongShim Co. Ltd.
 
1,741
498,511
Oci Co. Ltd.
 
3,978
268,518
Oci Holdings Co. Ltd.
 
6,500
441,620
Orion Corp./Republic of Korea
 
10,507
701,200
Oscotec, Inc. (a)
 
13,590
298,143
Ottogi Corp.
 
1,084
324,950
Pan Ocean Co., Ltd. (Korea)
 
115,542
340,628
Paradise Co. Ltd.
 
36,608
395,484
Park Systems Corp.
 
2,420
256,651
Pearl Abyss Corp. (a)
 
15,761
361,150
People & Technology, Inc.
 
9,453
270,330
Peptron, Inc. (a)
 
8,810
182,374
PharmaResearch Co. Ltd.
 
3,861
352,666
Poongsan Corp.
 
9,747
454,174
POSCO
 
29,033
8,357,810
POSCO Chemtech Co. Ltd.
 
12,604
2,528,545
POSCO ICT Co. Ltd.
 
21,799
631,719
Posco International Corp.
 
22,136
728,036
Rainbow Robotics (a)
 
3,667
461,732
S&S Tech Corp.
 
8,712
261,144
S-Oil Corp.
 
19,850
1,033,459
S.M. Entertainment Co. Ltd.
 
6,077
345,064
S1 Corp.
 
9,656
414,736
Sam A Aluminium Co. Ltd.
 
2,942
164,090
Sam Chun Dang Pharm Co. Ltd. (a)
 
6,743
506,138
Samsung Biologics Co. Ltd. (a)(d)
 
7,171
4,019,232
Samsung C&T Corp.
 
33,940
3,649,616
Samsung E&A Co. Ltd. (a)
 
65,343
1,235,391
Samsung Electro-Mechanics Co. Ltd.
 
22,896
2,546,751
Samsung Electronics Co. Ltd.
 
1,891,229
104,832,763
Samsung Fire & Marine Insurance Co. Ltd.
 
12,531
2,796,908
Samsung Heavy Industries Co. Ltd. (a)
 
271,923
1,837,244
Samsung Life Insurance Co. Ltd.
 
32,814
2,061,917
Samsung SDI Co. Ltd.
 
22,201
6,851,291
Samsung SDS Co. Ltd.
 
15,874
1,818,489
Samsung Securities Co. Ltd.
 
28,526
778,170
Samyang Foods Co. Ltd.
 
2,466
523,278
SD Biosensor, Inc.
 
24,014
181,747
Seegene, Inc.
 
17,258
274,660
Seojin System Co. Ltd. (a)
 
17,170
303,483
SFA Engineering Corp.
 
18,565
343,565
Shinhan Financial Group Co. Ltd.
 
176,726
5,920,895
Shinsegae Co. Ltd.
 
3,987
476,112
Shinsung Delta Tech Co. Ltd.
 
6,813
398,560
SIMMTECH Co. Ltd.
 
10,905
237,221
SK Biopharmaceuticals Co. Ltd. (a)
 
13,574
851,550
SK Bioscience Co. Ltd. (a)
 
14,558
611,438
SK Chemicals Co. Ltd.
 
7,310
316,802
SK Hynix, Inc.
 
219,857
27,055,649
SK IE Technology Co. Ltd. (a)(d)
 
12,193
514,623
SK Innovation Co., Ltd. (a)
 
24,875
1,967,845
SK Networks Co. Ltd.
 
53,265
192,812
SK Square Co. Ltd. (a)
 
39,801
2,180,643
SK Telecom Co. Ltd.
 
23,944
883,013
SK, Inc.
 
15,144
1,799,545
SKC Co. Ltd.
 
8,385
660,875
SOLUM Co. Ltd. (a)
 
20,456
384,304
SOOP Co. Ltd.
 
3,737
301,632
Soulbrain Co. Ltd.
 
1,983
426,896
ST Pharm Co. Ltd.
 
6,847
459,995
Studio Dragon Corp. (a)
 
9,404
287,643
SungEel HiTech Co. Ltd. (a)
 
4,321
247,782
Synopex, Inc.
 
36,431
227,835
Taihan Electric Wire Co. Ltd.
 
56,172
554,304
TCC Steel
 
7,339
276,390
WeMade Entertainment Co. Ltd.
 
7,929
268,002
WONIK IPS Co. Ltd.
 
13,446
357,100
Woori Financial Group, Inc.
 
248,793
2,542,426
Youngone Corp.
 
10,283
283,764
Yuhan Corp.
 
23,377
1,212,607
TOTAL KOREA (SOUTH)
 
 
390,565,505
Kuwait - 0.2%
 
 
 
Agility Global PLC (c)(e)
 
1,295,636
52,532
Agility Public Warehousing Co. KSC (c)
 
647,818
690,263
Al Ahli Bank of Kuwait KSCP
 
525,551
409,122
Ali Alghanim Sons Automotive Co. KSSC
 
65,736
234,969
Boubyan Bank KSC
 
591,342
1,129,745
Boubyan Petrochemicals Co. KSCP
 
192,902
430,479
Boursa Kuwait Securities Co. KPSC
 
45,013
292,008
Burgan Bank SAK
 
578,043
339,364
Commercial Real Estate Co.
 
853,246
370,856
Gulf Bank
 
817,202
683,873
Gulf Cable & Electrical Industries Co. KSCP
 
57,423
233,752
Human Soft Holding Co. KSCC
 
43,683
410,759
Kuwait Finance House KSCP
 
3,668,807
8,568,086
Kuwait International Bank
 
477,303
249,257
Kuwait Projects Co. Holding KSCP (a)
 
919,930
378,953
Kuwait Real Estate Co.
 
376,702
270,033
Kuwait Telecommunications Co.
 
187,496
333,880
Mabanee Co. SAKC
 
287,525
734,900
Mobile Telecommunication Co.
 
791,050
1,252,132
National Bank of Kuwait
 
3,102,481
8,704,658
National Industries Group Holding SAK
 
807,220
562,933
National Investments Co. KSCC
 
233,112
192,055
Salhia Real Estate Co. KSCP
 
230,742
327,065
Warba Bank KSCP
 
613,458
376,074
TOTAL KUWAIT
 
 
27,227,748
Luxembourg - 0.1%
 
 
 
Aperam SA
 
18,871
552,618
ArcelorMittal SA (Netherlands)
 
205,131
5,164,224
Eurofins Scientific SA
 
54,224
3,333,188
Reinet Investments SCA
 
56,642
1,323,162
SES SA (France) (depositary receipt)
 
160,740
782,573
TOTAL LUXEMBOURG
 
 
11,155,765
Macau - 0.1%
 
 
 
Galaxy Entertainment Group Ltd.
 
884,000
3,966,413
Sands China Ltd. (a)
 
977,200
2,304,869
SJM Holdings Ltd. (a)(b)
 
1,288,250
472,795
Wynn Macau Ltd.
 
664,000
616,620
TOTAL MACAU
 
 
7,360,697
Malaysia - 0.4%
 
 
 
Alliance Bank Malaysia Bhd
 
469,200
375,254
AMMB Holdings Bhd
 
1,047,700
920,952
Axiata Group Bhd
 
1,229,958
728,295
Axis (REIT)
 
725,038
291,615
Bermaz Auto Bhd
 
585,800
283,312
Bursa Malaysia Bhd
 
323,400
504,838
Carlsberg Brewery Bhd
 
77,200
302,117
CelcomDigi Bhd
 
1,508,100
1,309,061
Chin Hin Group Bhd
 
341,000
420,352
CIMB Group Holdings Bhd
 
2,575,248
3,559,069
CTOS Digital Bhd
 
969,800
286,128
Dialog Group Bhd
 
1,412,100
711,341
Fraser & Neave Holdings Bhd
 
62,600
411,175
Frontken Corp. Bhd
 
561,400
461,939
Gamuda Bhd
 
826,289
918,448
Genting Bhd
 
915,600
865,409
Genting Malaysia Bhd
 
1,279,900
706,026
Hap Seng Consolidated Bhd
 
233,000
214,548
Hartalega Holdings Bhd (a)
 
719,200
421,208
Heineken Malaysia Bhd
 
82,200
397,418
Hong Leong Bank Bhd
 
267,800
1,081,494
IHH Healthcare Bhd
 
830,700
1,092,984
IJM Corp. Bhd
 
954,400
482,225
Inari Amertron Bhd
 
1,202,350
775,208
IOI Corp. Bhd
 
1,043,800
888,494
IOI Properties Group Bhd
 
643,900
290,775
Kossan Rubber Industries Bhd
 
667,500
305,239
KPJ Healthcare Bhd
 
796,700
336,469
Kuala Lumpur Kepong Bhd
 
198,632
959,452
Malayan Banking Bhd
 
2,110,818
4,301,141
Malaysia Airports Holdings Bhd
 
392,451
821,363
Malaysian Pacific Industries Bhd
 
44,700
282,553
Maxis Bhd
 
1,108,600
851,502
Mega First Corp. Bhd
 
369,900
361,771
MISC Bhd
 
526,200
876,792
MR DIY Group M Sdn Bhd (d)
 
1,499,800
490,229
My E.G.Services Bhd
 
2,477,070
484,187
Nestle (Malaysia) Bhd
 
30,100
801,312
Pentamaster Corp. Bhd
 
339,200
302,419
Petronas Chemicals Group Bhd
 
1,148,700
1,630,082
Petronas Dagangan Bhd
 
135,500
611,174
Petronas Gas Bhd
 
296,300
1,116,651
PPB Group Bhd
 
271,740
895,212
Press Metal Aluminium Holdings
 
1,534,500
1,724,907
Public Bank Bhd
 
5,839,600
5,036,702
QL Resources Bhd
 
482,275
647,658
RHB Bank Bhd
 
599,293
689,848
Scientex Bhd
 
379,800
333,996
Sime Darby Bhd
 
1,225,189
717,279
Sime Darby Plantation Bhd
 
905,771
845,862
Sime Darby Property Bhd
 
1,427,600
291,894
Sunway (REIT)
 
805,200
268,144
Telekom Malaysia Bhd
 
523,415
678,340
Tenaga Nasional Bhd
 
1,033,200
2,587,175
TIME dotCom Bhd
 
533,500
576,638
Top Glove Corp. Bhd (a)
 
2,329,300
428,998
United Plantations Bhd
 
80,800
423,231
V.S. Industry Bhd
 
1,440,200
274,240
ViTrox Corp. Bhd
 
165,800
258,990
Yinson Holdings Bhd
 
588,500
299,694
YTL Corp. Bhd
 
1,369,900
885,704
YTL Power International Bhd
 
1,020,500
978,300
TOTAL MALAYSIA
 
 
52,074,833
Malta - 0.0%
 
 
 
Kindred Group PLC (depository receipt)
 
88,467
993,813
Mexico - 0.7%
 
 
 
Alfa SA de CV Series A
 
1,306,100
960,662
Alsea S.A.B. de CV (a)
 
195,411
818,569
America Movil S.A.B. de CV Series L
 
7,516,196
7,156,088
Arca Continental S.A.B. de CV
 
203,500
1,985,256
Banco del Bajio SA (d)
 
316,500
1,166,916
Bolsa Mexicana de Valores S.A.B. de CV
 
196,100
368,373
Borr Drilling Ltd. (b)
 
89,323
474,819
CEMEX S.A.B. de CV unit (a)
 
6,089,232
4,823,541
Coca-Cola FEMSA S.A.B. de CV unit
 
210,420
2,087,526
Controladora Vuela Compania de Aviacion S.A.B. de CV (a)(b)
 
402,900
331,384
Corporacion Inmobiliaria Vesta S.A.B. de CV (b)
 
326,000
1,153,415
FIBRA Macquarie Mexican (REIT) (d)
 
326,216
586,896
Fibra Uno Administracion SA de CV
 
1,168,435
1,677,207
Fomento Economico Mexicano S.A.B. de CV unit
 
780,491
9,130,844
Genomma Lab Internacional SA de CV
 
371,000
361,888
Gentera S.A.B. de CV
 
453,800
727,691
Gruma S.A.B. de CV Series B
 
73,810
1,449,680
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B
 
157,901
2,876,014
Grupo Aeroportuario del Sureste S.A.B. de CV Series B
 
72,345
2,485,088
Grupo Aeroportuario Norte S.A.B. de CV
 
114,900
1,272,095
Grupo Bimbo S.A.B. de CV Series A
 
530,877
2,224,441
Grupo Carso SA de CV Series A1
 
228,027
1,793,388
Grupo Financiero Banorte S.A.B. de CV Series O
 
1,041,819
10,311,306
Grupo Financiero Inbursa S.A.B. de CV Series O (a)
 
740,500
2,051,955
Grupo Mexico SA de CV Series B
 
1,246,417
7,701,545
Grupo Televisa SA de CV
 
997,670
589,956
Grupo Traxion S.A.B. de CV (a)(b)(d)
 
179,500
301,878
Industrias Penoles SA de CV (a)
 
80,480
1,167,966
Kimberly-Clark de Mexico SA de CV Series A
 
619,867
1,290,338
La Comer S.A.B. de CV (b)
 
229,200
490,892
Megacable Holdings S.A.B. de CV unit
 
128,900
375,246
Nemak S.A.B. de CV (a)(b)(d)
 
1,340,775
231,671
Ollamani S.A.B. (b)
 
23,001
47,101
Operadora de Sites Mexicanos, SA de CV
 
543,363
611,534
Orbia Advance Corp. S.A.B. de CV
 
407,428
669,266
Prologis Property Mexico SA (b)
 
315,340
1,243,633
Promotora y Operadora de Infraestructura S.A.B. de CV
 
78,110
784,668
Qualitas Controladora S.A.B. de CV (b)
 
82,100
1,073,627
Regional S.A.B. de CV (b)
 
101,700
918,525
Southern Copper Corp.
 
33,686
3,930,146
Terrafina
 
310,471
763,366
Wal-Mart de Mexico SA de CV Series V
 
2,083,730
7,775,026
TOTAL MEXICO
 
 
88,241,426
Netherlands - 2.6%
 
 
 
Aalberts Industries NV
 
40,199
1,927,085
ABN AMRO Bank NV:
 
 
 
 GDR (Bearer) (d)
 
192,457
3,099,337
 rights (a)(e)
 
192,457
182,797
Adyen BV (a)(d)
 
8,744
10,475,308
AEGON NV
 
591,052
3,680,979
Akzo Nobel NV
 
68,396
4,535,736
Alfen Beheer BV (a)(b)(d)
 
9,228
401,409
AMG Critical Materials NV
 
15,057
355,443
Arcadis NV
 
29,068
1,803,893
Argenx SE (a)
 
23,926
8,937,883
ASM International NV (Netherlands)
 
18,953
12,038,897
ASML Holding NV (Netherlands)
 
162,265
144,198,000
ASR Nederland NV
 
64,132
3,214,705
Basic-Fit NV (a)(b)(d)
 
23,265
512,955
BE Semiconductor Industries NV
 
31,276
4,188,907
Corbion NV
 
26,493
580,734
Eurocommercial Properties NV
 
20,009
456,967
Euronext NV (d)
 
34,049
3,075,935
EXOR NV
 
36,172
3,964,503
Flow Traders Ltd. (b)
 
18,557
382,020
Fugro NV:
 
 
 
 (Certificaten Van Aandelen)
 
47,046
1,147,743
 rights (a)(e)
 
47,046
20,083
Heineken Holding NV
 
51,419
4,145,758
Heineken NV (Bearer)
 
114,895
11,194,836
IMCD NV
 
22,932
3,481,289
ING Groep NV (Certificaten Van Aandelen)
 
1,333,037
21,075,677
JDE Peet's BV
 
42,069
934,735
Koninklijke Ahold Delhaize NV
 
381,979
11,594,658
Koninklijke BAM Groep NV
 
120,392
492,601
Koninklijke BAM Groep NV rights (a)(e)
 
120,392
25,696
Koninklijke KPN NV
 
1,354,839
4,923,663
Koninklijke Philips Electronics NV
 
312,617
8,301,916
Koninklijke Vopak NV
 
29,025
1,156,005
NN Group NV
 
109,363
5,059,474
NSI NV
 
13,557
257,242
OCI NV
 
42,500
1,147,507
Pharming Group NV (a)(b)
 
372,859
348,773
PostNL NV (b)
 
187,420
253,019
PostNL NV rights (a)(b)(e)
 
187,420
6,000
Randstad NV
 
43,762
2,204,372
Redcare Pharmacy NV (a)(b)(d)
 
6,283
851,563
SBM Offshore NV
 
56,861
846,515
SBM Offshore NV rights (a)(e)
 
56,861
46,428
Signify NV (d)
 
52,660
1,447,680
TKH Group NV (bearer) (depositary receipt)
 
18,989
821,951
TomTom Group BV (a)(b)
 
36,437
218,537
Universal Music Group NV
 
329,585
9,743,007
Van Lanschot Kempen NV (Bearer)
 
13,814
491,656
Wereldhave NV
 
18,608
259,351
Wolters Kluwer NV
 
99,414
14,932,818
TOTAL NETHERLANDS
 
 
315,444,046
New Zealand - 0.2%
 
 
 
Air New Zealand Ltd.
 
746,564
240,016
Auckland International Airport Ltd.
 
535,779
2,458,480
Contact Energy Ltd.
 
317,080
1,618,821
Fisher & Paykel Healthcare Corp.
 
236,430
3,959,671
Fletcher Building Ltd.
 
329,799
738,161
Goodman Property Trust
 
450,898
604,733
Infratil Ltd.
 
334,155
2,145,524
Kiwi Property Group Ltd.
 
743,655
354,080
Mercury Nz Ltd.
 
290,955
1,091,916
Meridian Energy Ltd.
 
535,864
1,889,929
Ryman Healthcare Ltd. (a)
 
248,206
592,453
Spark New Zealand Ltd.
 
735,903
2,051,872
Xero Ltd. (a)
 
57,979
4,501,386
TOTAL NEW ZEALAND
 
 
22,247,042
Nigeria - 0.0%
 
 
 
Airtel Africa PLC (d)
 
374,574
519,066
Norway - 0.5%
 
 
 
Aker ASA (A Shares)
 
8,783
489,416
Aker BP ASA
 
126,099
3,087,629
Aker Solutions ASA
 
106,911
405,181
Austevoll Seafood ASA
 
48,671
390,604
BlueNord ASA (a)
 
10,456
535,578
Borregaard ASA
 
40,021
685,961
Crayon Group Holding A/S (a)(b)(d)
 
34,454
256,036
DNB Bank ASA
 
368,416
6,437,372
DNO ASA (A Shares) (b)
 
329,042
308,352
DOF Group ASA
 
64,146
474,086
Elkem ASA (b)(d)
 
152,187
267,425
Entra ASA (d)
 
32,841
303,325
Equinor ASA
 
360,923
9,603,575
Europris ASA (d)
 
74,843
472,969
FLEX LNG Ltd.
 
14,620
383,251
Frontline PLC
 
54,894
1,309,035
Gjensidige Forsikring ASA
 
82,219
1,322,639
Golden Ocean Group Ltd.
 
53,880
760,776
Hoegh Autoliners ASA
 
48,695
513,756
Kitron ASA
 
89,907
232,770
Kongsberg Gruppen ASA
 
35,497
2,511,648
Leroy Seafood Group ASA
 
115,128
509,907
Mowi ASA
 
188,164
3,319,146
MPC Container Ships ASA
 
198,717
320,477
NEL ASA (a)(b)
 
759,478
358,664
Nordic VLSI ASA (a)(b)
 
74,202
824,949
Norsk Hydro ASA
 
533,518
3,278,674
Norwegian Air Shuttle A/S (a)(b)
 
310,679
408,468
Orkla ASA
 
277,564
1,893,987
PGS ASA (a)
 
437,984
339,474
Protector Forsikring ASA
 
23,246
472,935
Salmar ASA
 
26,542
1,676,123
Schibsted ASA:
 
 
 
 (A Shares)
 
33,172
949,009
 (B Shares)
 
35,681
999,588
Seadrill Ltd. (a)
 
12,410
607,178
Sparebank 1 Oestlandet (b)
 
19,134
230,810
Sparebank 1 Sr Bank ASA (primary capital certificate)
 
76,293
925,804
Sparebanken Midt-Norge
 
56,977
750,495
Sparebanken Nord-Norge
 
45,902
414,785
Stolt-Nielsen SA
 
11,012
470,874
Storebrand ASA (A Shares)
 
176,865
1,702,018
Telenor ASA
 
252,156
2,903,250
TGS ASA
 
56,572
647,788
Tomra Systems ASA
 
96,121
1,191,508
Wallenius Wilhelmsen ASA
 
46,235
468,656
TOTAL NORWAY
 
 
56,415,951
Peru - 0.0%
 
 
 
Compania de Minas Buenaventura SAA sponsored ADR
 
82,088
1,420,122
Credicorp Ltd. (United States)
 
27,309
4,522,643
Intercorp Financial Services, Inc.
 
16,385
349,328
TOTAL PERU
 
 
6,292,093
Philippines - 0.2%
 
 
 
Aboitiz Equity Ventures, Inc.
 
723,230
527,204
Alliance Global Group, Inc.
 
1,184,300
205,167
AREIT, Inc.
 
308,600
184,039
Ayala Corp.
 
113,245
1,204,764
Ayala Land, Inc.
 
2,766,300
1,372,465
Bank of the Philippine Islands (BPI)
 
751,281
1,646,258
BDO Unibank, Inc.
 
958,564
2,441,488
Bloomberry Resorts Corp. (a)
 
2,037,300
366,931
Century Pacific Food, Inc.
 
546,700
358,997
DMCI Holdings, Inc.
 
1,363,000
261,189
GT Capital Holdings, Inc.
 
42,340
468,345
International Container Terminal Services, Inc.
 
410,390
2,349,162
JG Summit Holdings, Inc.
 
1,116,790
652,611
Jollibee Food Corp.
 
186,170
757,615
Manila Electric Co.
 
114,890
728,608
Metropolitan Bank & Trust Co.
 
745,608
902,941
PLDT, Inc.
 
30,770
717,184
PUREGOLD Price Club, Inc.
 
490,400
201,034
Robinsons Land Corp.
 
932,956
251,681
Security Bank Corp.
 
202,230
249,981
Semirara Mining & Power Corp.
 
406,100
231,669
SM Investments Corp.
 
96,325
1,582,845
SM Prime Holdings, Inc.
 
4,051,100
1,959,159
TELUS International, Inc. (a)
 
34,497
290,179
Universal Robina Corp.
 
379,020
672,244
Wilcon Depot, Inc.
 
663,500
190,433
TOTAL PHILIPPINES
 
 
20,774,193
Poland - 0.3%
 
 
 
Alior Bank SA
 
34,839
891,502
Allegro.eu SA (a)(d)
 
234,035
1,962,504
Asseco Poland SA
 
24,108
475,456
Auto Partner SA (b)
 
36,082
240,612
Bank Millennium SA (a)
 
253,773
580,255
Bank Polska Kasa Opieki SA
 
73,443
3,059,823
Budimex SA
 
5,185
878,781
CCC SA (a)(b)
 
18,070
421,191
CD Projekt SA
 
26,065
761,439
Cyfrowy Polsat SA (a)(b)
 
115,411
286,081
Dino Polska SA (a)(d)
 
19,875
1,910,379
ENEA SA (a)
 
115,489
241,148
Grupa Kety SA
 
3,984
828,445
InPost SA (a)
 
80,021
1,292,078
Jastrzebska Spolka Weglowa SA (a)(b)
 
22,299
168,765
KGHM Polska Miedz SA (Bearer)
 
55,259
1,916,029
Kruk SA
 
7,073
808,712
LPP SA
 
449
1,741,142
mBank SA (a)
 
6,070
1,026,232
Orange Polska SA (b)
 
274,812
532,497
Orlen SA
 
228,913
3,749,379
PGE Polska Grupa Energetyczna SA (a)
 
364,795
547,498
Powszechna Kasa Oszczednosci Bank SA
 
349,601
5,231,432
Powszechny Zaklad Ubezpieczen SA
 
242,266
3,062,667
Santander Bank Polska SA
 
14,259
1,971,316
Tauron Polska Energia SA (a)
 
437,755
314,578
Text SA
 
9,024
200,217
XTB SA (d)
 
20,765
325,471
TOTAL POLAND
 
 
35,425,629
Portugal - 0.1%
 
 
 
Banco Comercial Portugues SA (Reg.) (a)
 
3,461,837
1,214,004
Corticeira Amorim SGPS SA
 
24,406
249,521
Energias de Portugal SA
 
1,268,776
4,774,337
Galp Energia SGPS SA Class B
 
187,759
4,047,603
Greenvolt-Energias Renovaveis SA (a)
 
24,827
219,912
Jeronimo Martins SGPS SA
 
116,170
2,398,948
Mota-Engil SGPS SA
 
43,833
190,482
NOS SGPS
 
112,632
389,451
REN - Redes Energeticas Nacionais SGPS SA
 
172,709
417,474
Sonae SGPS SA
 
322,062
323,082
The Navigator Co. SA
 
105,334
466,736
TOTAL PORTUGAL
 
 
14,691,550
Qatar - 0.2%
 
 
 
Barwa Real Estate Co.
 
868,701
670,434
Doha Bank
 
1,027,141
421,181
Dukhan Bank
 
754,091
797,584
Estithmar Holding QPSC (a)
 
389,375
219,124
Gulf International Services QSC
 
393,586
299,865
Industries Qatar QSC
 
594,688
2,000,804
Masraf al Rayan
 
2,295,287
1,583,565
Mesaieed Petrochemical Holding Co.
 
2,311,092
1,218,068
Ooredoo QSC
 
336,689
923,791
Qatar Aluminum Manufacturing Co.
 
1,265,834
491,245
Qatar Electricity & Water Co.
 
181,917
761,943
Qatar Fuel Co.
 
244,940
972,764
Qatar Gas Transport Co. Ltd. (Nakilat)
 
1,019,457
1,119,695
Qatar International Islamic Bank QSC
 
415,665
1,148,473
Qatar Islamic Bank
 
717,816
3,607,809
Qatar National Bank SAQ
 
1,848,548
7,041,846
Qatar Navigation QPSC
 
395,893
1,147,122
The Commercial Bank of Qatar
 
1,330,282
1,517,347
United Development Co.
 
789,592
238,547
Vodafone Qatar QSC
 
850,005
413,213
TOTAL QATAR
 
 
26,594,420
Romania - 0.0%
 
 
 
NEPI Rockcastle PLC
 
225,608
1,516,388
Russia - 0.0%
 
 
 
Aeroflot Pjsc (a)(c)
 
402,869
28,556
Alrosa Co. Ltd. (a)(c)
 
739,283
122,462
Credit Bank of Moscow (a)(c)
 
4,537,000
45,067
Detsky Mir PJSC (a)(c)(d)
 
227,830
37,565
Gazprom OAO (a)(c)
 
3,442,771
358,705
Inter Rao Ues JSC (a)(c)
 
11,220,073
61,593
LUKOIL PJSC (a)(c)
 
120,075
37,006
MMC Norilsk Nickel PJSC (a)(c)
 
1,831,800
121,302
Moscow Exchange MICEX-RTS OAO (a)(c)
 
449,874
86,107
Novatek PJSC GDR (Reg. S) (a)(c)
 
26,560
1,296,128
Novolipetsk Steel OJSC (a)(c)
 
409,801
3,917
Ozon Holdings PLC ADR (a)(c)
 
17,054
35,575
PhosAgro PJSC:
 
 
 
 GDR (Reg. S) (a)(c)
 
43,237
887
 sponsored GDR (Reg. S) (a)(c)
 
277
6
Polyus PJSC (a)(c)
 
10,038
23,504
Rosneft Oil Co. OJSC (a)(c)
 
315,946
52,611
Rostelecom PJSC (a)(c)
 
298,140
66,276
Sberbank of Russia (a)(c)
 
3,156,853
19,326
Segezha Group PJSC (a)(c)(d)
 
1,842,700
27,472
Severstal PAO (a)(c)
 
63,766
1,418
Sistema JSFC GDR (Reg. S) (a)(c)
 
40,315
71,280
Surgutneftegas OJSC (a)(c)
 
2,091,286
25,480
Tatneft PAO (a)(c)
 
399,435
49,468
TKS Holding MKPAO JSC (a)(c)
 
2,047
2,595
Unipro PJSC (a)(c)
 
8,778,000
27,881
United Co. RUSAL International PJSC (a)(c)
 
983,490
118,019
VK Co. Ltd. (a)(c)
 
35,535
10,512
VK Co. Ltd. GDR (Reg. S) (a)(c)
 
4,260
0
VTB Bank OJSC (a)(c)
 
963,847,980
36,666
Yandex NV Class A (a)(c)
 
84,793
315,218
TOTAL RUSSIA
 
 
3,082,602
Saudi Arabia - 1.1%
 
 
 
Abdullah Al Othaim Markets Co.
 
187,691
623,535
ACWA Power Co.
 
38,184
4,072,308
Ades Holding Co.
 
138,623
738,465
Advanced Petrochemicals Co.
 
54,317
618,391
Al Hammadi Co. for Development and Investment
 
34,984
517,680
Al Masane Al Kobra Mining Co.
 
18,859
299,182
Al Moammar Information Systems Co.
 
6,874
288,845
Al Rajhi Bank
 
788,088
16,788,842
Al Rajhi Co. for Co-operative Insurance
 
18,014
635,913
Al Rajhi Reit
 
110,806
250,234
Al-Dawaa Medical Services Co.
 
15,988
408,375
Aldrees Petroleum and Transport Services Co.
 
15,570
699,085
Alinma Bank
 
495,528
4,406,191
Alkhorayef Water & Power Technologies Co. (a)
 
5,491
341,120
Almarai Co. Ltd.
 
100,737
1,525,586
Almunajem Foods Co.
 
9,158
293,986
Alujain Corp. (a)
 
22,574
270,544
Arab National Bank
 
274,273
2,259,648
Arabian Cement Co.
 
27,486
224,616
Arabian Contracting Services Co.
 
6,506
379,890
Arabian Internet and Communications Services Co. Ltd.
 
9,859
914,769
Arriyadh Development Co.
 
41,945
261,471
Astra Industrial Group
 
14,853
687,485
Ataa Educational Co.
 
11,394
215,084
Bank Al-Jazira
 
214,458
926,310
Bank Albilad
 
250,412
2,383,541
Banque Saudi Fransi
 
240,521
2,350,316
Bawan Co.
 
17,609
222,542
BinDawood Holding Co.
 
147,552
372,558
Bupa Arabia for Cooperative Insurance Co.
 
33,466
2,152,189
Catrion Catering Holding Co.
 
17,742
597,928
Dallah Healthcare Co.
 
14,728
640,075
Dar Al Arkan Real Estate Development Co. (a)
 
220,917
783,394
Dr Sulaiman Al Habib Medical Services Group Co.
 
35,193
2,914,453
Eastern Province Cement Co.
 
25,223
224,617
Electrical Industries Co.
 
243,964
308,972
Elm Co.
 
9,698
2,364,899
Emaar The Economic City (a)
 
179,686
371,771
Etihad Etisalat Co.
 
155,197
2,151,721
First Milling Co.
 
11,477
252,760
Jadwa (REIT) Saudi Fund
 
84,749
273,865
Jahez International Co. (a)
 
41,185
329,427
Jamjoom Pharmaceuticals Factory Co.
 
9,820
339,849
Jarir Marketing Co.
 
241,755
872,757
Leejam Sports Co. JSC
 
10,859
605,691
Luberef
 
20,964
847,369
Lumi Rental Co.
 
8,907
209,459
Maharah Human Resources Co.
 
117,994
198,827
Middle East Healthcare Co. (a)
 
17,928
434,027
Middle East Paper Co.
 
23,117
262,567
Mobile Telecommunications Co. Saudi Arabia
 
190,558
613,753
Mouwasat Medical Services Co.
 
39,844
1,427,781
Nahdi Medical Co.
 
17,407
641,403
National Co. for Learning & Education
 
8,576
345,272
National Gas & Industrialization Co.
 
16,625
377,216
National Industrialization Co. (a)
 
147,876
551,982
National Medical Care Co.
 
9,524
467,744
Power & Water Utility Co. for Jubail & Yanbu
 
31,650
548,512
Qassim Cement Co.
 
20,703
325,675
Retal Urban Development Co.
 
110,339
269,772
Riyad Bank
 
595,274
4,396,387
Sabic Agriculture-Nutrients Co.
 
92,741
2,863,384
Sahara International Petrochemical Co.
 
145,099
1,326,960
Saudi Arabian Mining Co.
 
519,168
7,004,186
Saudi Arabian Oil Co. (d)
 
1,044,137
8,379,599
Saudi Automotive Services Co.
 
13,458
300,693
Saudi Awwal Bank
 
408,587
4,444,715
Saudi Basic Industries Corp.
 
357,832
8,061,858
Saudi Cement Co.
 
33,291
407,417
Saudi Chemical Co. Holding
 
200,598
430,548
Saudi Dairy & Foodstuffs Co.
 
6,803
662,053
Saudi Electricity Co.
 
331,081
1,643,665
Saudi Ground Services Co. (a)
 
42,849
623,782
Saudi Industrial Investment Group
 
156,037
966,027
Saudi Investment Bank/The
 
213,176
959,423
Saudi Kayan Petrochemical Co. (a)
 
315,048
787,074
Saudi Pharmaceutical Industries & Medical Appliances Corp. (a)
 
28,254
280,988
Saudi Real Estate Co. (a)
 
69,785
420,132
Saudi Research & Marketing Group (a)
 
14,758
947,509
Saudi Tadawul Group Holding Co.
 
19,528
1,378,717
Saudi Telecom Co.
 
803,058
8,061,412
Seera Group Holding (a)
 
65,055
474,392
Southern Province Cement Co.
 
30,879
328,912
The Co. for Cooperative Insurance
 
30,420
1,208,495
The National Agriculture Development Co. (a)
 
63,062
590,166
The Saudi National Bank
 
1,182,827
11,857,915
The Savola Group
 
106,869
1,438,939
Theeb Rent A Car Co.
 
13,433
244,621
United Electronics Co.
 
18,943
501,530
United International Transportation Co.
 
16,190
360,008
Yamama Cement Co.
 
46,540
431,822
Yanbu Cement Co.
 
38,783
301,942
Yanbu National Petrochemical Co.
 
112,650
1,163,864
TOTAL SAUDI ARABIA
 
 
139,931,374
Singapore - 1.0%
 
 
 
AEM Holdings Ltd. (b)
 
124,900
213,760
AIMS APAC (REIT)
 
295,500
272,530
BW LPG Ltd. (d)
 
39,214
568,697
CapitaLand Ascendas REIT
 
1,486,241
2,815,272
Capitaland Ascott Trust unit
 
1,036,757
688,606
Capitaland India Trust
 
490,524
358,459
CapitaLand Integrated Commercial Trust
 
2,110,737
3,008,847
CapitaLand Investment Ltd.
 
1,078,425
2,085,516
CapitaRetail China Trust
 
606,574
294,651
CDL Hospitality Trusts unit
 
397,324
282,764
City Developments Ltd.
 
213,700
957,789
ComfortDelgro Corp. Ltd.
 
923,700
1,004,726
DBS Group Holdings Ltd.
 
793,402
20,197,959
Digital Core (REIT)
 
427,500
258,689
ESR-LOGOS (REIT)
 
3,054,897
648,586
Far East Hospitality Trust unit
 
468,100
210,673
Frasers Centrepoint Trust
 
422,983
670,021
Frasers Logistics & Industrial Trust
 
1,301,765
942,979
Genting Singapore Ltd.
 
2,465,900
1,645,668
Grab Holdings Ltd. (a)
 
774,471
2,710,649
Hafnia Ltd.
 
115,785
877,625
iFast Corp. Ltd.
 
58,700
315,870
Jardine Cycle & Carriage Ltd.
 
42,900
827,895
Kenon Holdings Ltd.
 
10,479
236,262
Keppel (REIT)
 
1,080,934
694,062
Keppel DC (REIT)
 
589,874
735,767
Keppel Infrastructure Trust
 
1,673,735
580,642
Keppel Ltd.
 
571,400
2,858,093
Lendlease Global Commercial (REIT)
 
826,321
328,654
Mapletree Industrial (REIT)
 
866,927
1,435,489
Mapletree Logistics Trust (REIT)
 
1,426,553
1,399,881
Mapletree Pan Asia Commercial Trust
 
985,715
903,283
NetLink NBN Trust
 
1,175,869
735,894
Olam Group Ltd.
 
421,300
362,725
Oversea-Chinese Banking Corp. Ltd.
 
1,332,078
13,829,066
PARAGON REIT
 
596,800
366,479
Parkway Life REIT
 
204,900
537,847
Raffles Medical Group Ltd. (b)
 
380,555
278,703
SATS Ltd. (a)(b)
 
394,537
724,562
Sea Ltd. ADR (a)
 
148,348
9,374,110
Seatrium Ltd. (a)
 
18,407,319
1,314,947
Sembcorp Industries Ltd.
 
365,700
1,429,183
Sheng Siong Group Ltd.
 
326,300
369,890
SIA Engineering Co. Ltd.
 
133,300
220,122
Singapore Airlines Ltd.
 
595,550
2,841,739
Singapore Exchange Ltd.
 
335,100
2,285,893
Singapore Post Ltd.
 
776,700
255,720
Singapore Technologies Engineering Ltd.
 
620,600
1,823,003
Singapore Telecommunications Ltd.
 
3,288,700
5,703,511
Starhill Global (REIT)
 
686,883
238,719
StarHub Ltd.
 
294,400
251,714
STMicroelectronics NV (France)
 
276,293
10,937,027
Suntec (REIT) (b)
 
878,900
692,911
UMS Holdings Ltd.
 
263,700
258,912
United Overseas Bank Ltd.
 
501,014
11,117,904
UOL Group Ltd.
 
199,531
851,948
Venture Corp. Ltd.
 
116,700
1,236,465
Yangzijiang Financial Holding Ltd.
 
1,245,300
286,420
TOTAL SINGAPORE
 
 
119,355,778
South Africa - 0.9%
 
 
 
Absa Group Ltd.
 
344,376
2,655,509
Aeci Ltd.
 
61,859
308,051
African Rainbow Minerals Ltd.
 
48,803
504,142
Anglo American Platinum Ltd. (b)
 
26,968
939,429
Anglo American PLC (United Kingdom)
 
510,791
16,691,362
Aspen Pharmacare Holdings Ltd.
 
152,177
1,812,872
AVI Ltd.
 
139,735
643,287
Barloworld Ltd.
 
91,951
422,509
Bid Corp. Ltd.
 
133,518
3,043,260
Bidvest Group Ltd./The
 
116,707
1,521,981
Capitec Bank Holdings Ltd.
 
34,907
4,320,192
Clicks Group Ltd.
 
94,595
1,471,784
Dis-Chem Pharmacies Ltd. (d)
 
195,667
337,085
Discovery Ltd.
 
222,396
1,416,812
Equites Property Fund Ltd.
 
365,522
238,701
Exxaro Resources Ltd.
 
101,643
973,850
FirstRand Ltd.
 
2,013,561
6,951,119
Fortress Real Estate Investmen Class B
 
501,385
390,043
Foschini Group Ltd./The
 
138,059
728,923
Gold Fields Ltd.
 
359,138
5,810,016
Growthpoint Properties Ltd.
 
1,377,923
796,123
Harmony Gold Mining Co. Ltd.
 
224,057
1,939,488
Hyprop Investments Ltd.
 
178,806
274,531
Impala Platinum Holdings Ltd.
 
366,228
1,630,284
Investec Ltd.
 
96,505
611,398
JSE Ltd.
 
46,568
211,359
Kumba Iron Ore Ltd. (b)
 
26,969
661,095
Life Healthcare Group Holdings Ltd.
 
624,083
356,070
Momentum Metropolitan Holdings
 
527,380
574,041
Motus Holdings Ltd.
 
71,071
314,740
Mr Price Group Ltd.
 
104,507
968,206
MTN Group Ltd.
 
687,289
3,294,044
MultiChoice Group Ltd. (a)
 
119,293
762,470
Naspers Ltd. Class N
 
73,616
14,088,455
Nedbank Group Ltd.
 
176,217
2,142,653
Netcare Ltd.
 
628,439
380,565
Ninety One Ltd.
 
97,290
201,215
Northam Platinum Holdings Ltd.
 
146,999
973,968
Old Mutual Ltd.
 
1,875,690
1,102,057
Omnia Holdings Ltd.
 
79,388
225,370
OUTsurance Group Ltd.
 
357,340
768,215
Pepkor Holdings Ltd. (d)
 
817,007
770,722
Pick 'n Pay Stores Ltd.
 
181,378
193,114
PSG Financial Services Ltd.
 
474,995
380,939
Redefine Properties Ltd.
 
2,766,095
578,522
Remgro Ltd.
 
205,164
1,336,803
Resilient Property Income Fund Ltd.
 
126,071
295,459
Reunert Ltd.
 
85,500
300,112
Sanlam Ltd.
 
706,320
2,555,029
Santam Ltd.
 
20,083
318,774
Sappi Ltd.
 
238,145
639,753
Sasol Ltd.
 
233,582
1,640,987
Scatec Solar AS (d)
 
54,996
403,738
Shoprite Holdings Ltd.
 
198,964
2,654,641
Sibanye-Stillwater Ltd.
 
1,149,693
1,312,203
Spar Group Ltd./The (a)
 
89,317
456,423
Standard Bank Group Ltd.
 
537,137
5,044,127
Super Group Ltd./South Africa
 
186,427
275,992
Telkom SA Ltd. (a)
 
135,969
171,601
Thungela Resources Ltd.
 
59,378
415,414
Tiger Brands Ltd.
 
67,000
728,801
Truworths International Ltd.
 
152,621
610,125
Vodacom Group Ltd.
 
252,398
1,207,816
Vukile Property Fund Ltd.
 
343,462
275,124
Wilson Bayly Holmes-Ovcon Ltd.
 
34,497
254,902
Woolworths Holdings Ltd.
 
381,769
1,212,758
TOTAL SOUTH AFRICA
 
 
107,491,153
Spain - 1.6%
 
 
 
Acciona SA
 
10,595
1,229,069
Acerinox SA
 
73,291
791,547
ACS Actividades de Construccion y Servicios SA
 
84,207
3,377,153
Aena SME SA (d)
 
29,423
5,388,279
Almirall SA
 
44,952
411,127
Amadeus IT Holding SA Class A
 
180,658
11,467,077
AmRest Holdings NV (a)(b)
 
33,726
219,081
Applus Services SA
 
51,357
694,968
Atresmedia Corporacion de Medios de Comunicacion SA
 
86,503
435,732
Banco Bilbao Vizcaya Argentaria SA
 
2,342,118
25,327,593
Banco de Sabadell SA
 
2,195,457
4,208,013
Banco Santander SA (Spain)
 
6,489,073
31,668,659
Bankinter SA
 
274,100
2,170,495
Befesa SA (d)
 
16,287
469,300
CaixaBank SA
 
1,498,748
7,903,736
Cellnex Telecom SA (d)
 
185,113
6,118,853
Cie Automotive SA
 
18,051
479,674
Compania de Distribucion Integral Logista Holdings SA
 
25,285
689,715
Construcciones y Auxiliar de Ferrocarriles
 
9,809
336,552
EDP Renovaveis SA
 
126,817
1,741,814
eDreams ODIGEO SA (a)
 
46,323
315,401
Enagas SA
 
103,399
1,518,380
Ence Energia y Celulosa SA (b)
 
90,594
323,691
Endesa SA
 
129,239
2,358,498
Faes Farma SA
 
177,269
644,163
Fluidra SA
 
39,730
843,757
Gestamp Automocion SA (d)
 
84,159
253,277
Grifols SA (a)(b)
 
122,518
1,130,475
Iberdrola SA
 
2,445,130
29,981,149
Indra Sistemas SA
 
52,508
1,010,339
Industria de Diseno Textil SA
 
436,159
19,945,342
Inmobiliaria Colonial SA
 
109,796
643,873
Laboratorios Farmaceuticos ROVI SA
 
9,180
825,878
Linea Directa Aseguradora SA Compania de Seguros y Reaseguros
 
356,454
384,973
MAPFRE SA (Reg.)
 
391,319
944,647
Melia Hotels International SA (a)
 
51,870
404,373
Merlin Properties Socimi SA
 
128,383
1,453,680
Pharma Mar SA
 
10,062
326,870
Redeia Corp. SA
 
161,352
2,694,849
Repsol SA
 
486,746
7,640,001
Sacyr SA
 
194,293
677,618
Solaria Energia y Medio Ambiente SA (a)
 
36,575
373,739
Tecnicas Reunidas SA (a)
 
34,439
342,173
Telefonica SA
 
1,946,116
8,717,816
Unicaja Banco SA (d)
 
537,601
703,964
Vidrala SA
 
8,965
946,221
Viscofan Envolturas Celulosicas SA
 
16,517
1,052,328
TOTAL SPAIN
 
 
191,585,912
Sweden - 2.1%
 
 
 
AAK AB
 
72,598
1,874,831
AcadeMedia AB (d)
 
52,845
242,637
Addlife AB
 
47,885
445,810
Addnode Group AB (B Shares)
 
53,065
551,817
AddTech AB (B Shares)
 
105,412
2,226,772
AFRY AB (B Shares)
 
39,235
624,462
Alfa Laval AB
 
114,517
4,921,351
Alimak Group AB (d)
 
32,023
298,134
Alleima AB
 
78,887
493,921
Arjo AB
 
98,209
416,348
ASSA ABLOY AB (B Shares)
 
395,496
10,449,565
Atea ASA
 
37,527
481,059
Atlas Copco AB:
 
 
 
 (A Shares)
 
1,027,973
18,006,066
 (B Shares)
 
675,818
10,271,815
Atrium Ljungberg AB (B Shares)
 
26,457
469,103
Avanza Bank Holding AB (b)
 
51,873
1,123,090
Axfood AB
 
42,942
1,112,087
Beijer Ref AB (B Shares) (b)
 
155,709
2,238,765
Betsson AB (B Shares)
 
49,652
551,919
Bilia AB (A Shares)
 
31,074
393,345
Billerud AB
 
96,689
810,245
BioArctic AB (a)(d)
 
17,205
304,433
BioGaia AB
 
39,226
419,653
Biotage AB (A Shares)
 
28,497
434,421
Boliden AB
 
110,554
3,692,691
BONESUPPORT Holding AB (a)(d)
 
23,318
478,192
Boozt AB (a)(d)
 
24,739
283,972
Bravida Holding AB (d)
 
86,077
586,974
Bufab AB
 
13,157
404,247
Bure Equity AB
 
23,525
743,722
Calliditas Therapeutics AB (a)(b)
 
21,368
213,284
Camurus AB (a)
 
12,692
573,768
Castellum AB (a)
 
158,309
1,914,866
Catena AB
 
15,127
668,474
Cibus Nordic Real Estate AB
 
24,839
326,028
Clas Ohlson AB (B Shares)
 
18,533
225,348
Cloetta AB
 
158,044
235,767
Coor Service Management Holding AB (d)
 
50,793
220,863
Corem Property Group AB (b)
 
274,988
206,483
Dios Fastigheter AB
 
53,592
412,867
Dometic Group AB (d)
 
131,812
950,878
Electrolux AB (B Shares) (a)(b)
 
94,400
833,637
Electrolux Professional AB
 
100,467
654,562
Elekta AB (B Shares)
 
153,682
1,104,462
Embracer Group AB (a)(b)
 
315,896
805,477
Epiroc AB:
 
 
 
 (A Shares)
 
253,175
4,680,542
 (B Shares)
 
166,414
2,787,560
EQT AB
 
149,385
4,097,772
Essity AB (B Shares)
 
242,110
6,032,758
Evolution AB (d)
 
73,675
8,236,325
Fabege AB
 
98,897
765,482
Fastighets AB Balder (a)
 
262,047
1,686,361
Fortnox AB
 
199,057
1,180,932
Getinge AB (B Shares)
 
93,074
1,984,718
Granges AB
 
42,841
508,864
H&M Hennes & Mauritz AB (B Shares) (b)
 
259,543
4,162,664
Hemnet Group AB
 
36,084
946,270
Hexagon AB (B Shares)
 
827,775
8,769,440
Hexatronic Group AB (b)
 
74,897
234,130
HEXPOL AB (B Shares)
 
107,442
1,228,421
HMS Networks AB
 
12,822
481,215
Holmen AB (B Shares)
 
32,441
1,270,511
Hufvudstaden AB (A Shares)
 
55,011
642,437
Husqvarna AB (B Shares)
 
140,943
1,159,732
Industrivarden AB:
 
 
 
 (A Shares)
 
49,854
1,615,899
 (C Shares)
 
53,177
1,722,158
Indutrade AB
 
109,302
2,560,867
Instalco AB
 
94,302
334,751
Investment AB Latour (B Shares)
 
57,415
1,404,064
Investor AB:
 
 
 
 (A Shares)
 
137,265
3,372,959
 (B Shares)
 
544,641
13,459,854
INVISIO AB
 
19,181
423,812
Inwido AB
 
24,949
309,474
JM AB (B Shares)
 
27,225
467,897
Kinnevik AB (B Shares) (a)
 
102,001
1,078,284
L E Lundbergforetagen AB
 
27,124
1,348,767
Lifco AB
 
92,637
2,269,608
Lindab International AB
 
32,606
660,381
Loomis AB (B Shares)
 
29,206
752,650
Medicover AB Class B
 
29,371
466,401
Meko AB
 
23,429
239,384
MIPS AB
 
12,193
416,229
Modern Times Group MTG AB (B Shares) (a)
 
39,152
337,327
Munters Group AB (d)
 
53,432
1,081,207
Mycronic AB
 
32,034
1,127,254
NCAB Group AB (b)
 
78,025
513,658
NCC AB (B Shares)
 
35,365
433,542
New Wave Group AB (B Shares)
 
38,679
357,645
Nibe Industrier AB (B Shares) (b)
 
616,183
2,885,108
Nolato AB (B Shares)
 
88,476
437,547
Nordnet AB (b)
 
56,796
1,026,620
Nordnet AB (B Shares) (a)(c)
 
492
0
NP3 Fastigheter AB
 
16,438
346,051
Nyfosa AB
 
63,348
556,143
OX2 AB (a)(b)
 
66,704
242,837
Pandox AB
 
39,639
620,101
Paradox Interactive AB
 
17,127
261,713
Peab AB
 
72,404
447,088
Platzer Fastigheter Holding AB
 
32,445
265,262
Ratos AB (B Shares)
 
101,794
356,543
Saab AB (B Shares)
 
32,430
2,585,478
Sagax AB
 
81,841
2,066,002
Sandvik AB (b)
 
420,066
8,488,684
Scandic Hotels Group AB (a)(b)(d)
 
65,113
343,574
Sdiptech AB (a)
 
13,279
341,964
Sectra AB (B Shares)
 
57,648
1,146,641
Securitas AB (B Shares) (b)
 
196,938
1,991,646
Sinch AB (a)(d)
 
278,509
644,945
Skandinaviska Enskilda Banken AB (A Shares)
 
634,792
8,369,504
Skanska AB (B Shares)
 
136,149
2,370,167
SKF AB (B Shares)
 
136,898
2,857,114
SkiStar AB
 
22,407
313,117
SSAB AB:
 
 
 
 (A Shares)
 
125,119
709,133
 (B Shares) (b)
 
230,528
1,303,210
Stillfront Group AB (a)
 
239,618
230,477
Storskogen Group AB
 
588,866
321,353
Surgical Science Sweden AB (a)(b)
 
18,037
257,124
Svenska Cellulosa AB SCA (B Shares)
 
246,154
3,619,583
Svenska Handelsbanken AB (A Shares)
 
584,889
5,015,614
Svolder AB (B Shares)
 
68,701
386,507
Sweco AB (B Shares)
 
87,544
943,725
Swedbank AB (A Shares)
 
340,278
6,558,296
Swedish Orphan Biovitrum AB (a)
 
79,761
2,065,605
Tele2 AB (B Shares)
 
218,700
2,046,021
Telefonaktiebolaget LM Ericsson (B Shares)
 
1,184,244
6,009,905
Telia Co. AB
 
940,917
2,156,688
Thule Group AB (d)
 
43,793
1,247,777
Trelleborg AB (B Shares)
 
91,045
3,248,421
Troax Group AB
 
18,222
368,726
Truecaller AB (B Shares)
 
107,770
348,724
Vimian Group AB (a)(b)
 
79,322
218,092
Vitec Software Group AB
 
13,476
648,708
Vitrolife AB
 
32,391
488,787
Volvo AB:
 
 
 
 (A Shares)
 
133,443
3,545,435
 (B Shares)
 
541,784
13,932,488
Volvo Car AB
 
304,490
965,104
Wallenstam AB (B Shares)
 
151,382
677,485
Wihlborgs Fastigheter AB
 
112,845
952,287
Xvivo Perfusion AB (a)
 
12,780
439,514
Yubico AB (a)
 
14,990
264,968
TOTAL SWEDEN
 
 
260,242,023
Switzerland - 3.6%
 
 
 
ABB Ltd. (Reg.)
 
638,171
31,007,732
Accelleron Industries Ltd.
 
38,276
1,493,149
Adecco SA (Reg.)
 
64,484
2,261,587
Alcon, Inc. (Switzerland)
 
200,996
15,546,169
Allreal Holding AG
 
6,007
971,053
ALSO Holding AG
 
2,796
690,445
Arbonia AG
 
26,744
353,192
Aryzta AG (a)
 
418,098
793,670
Autoneum Holding AG
 
1,973
316,367
Avolta AG (a)
 
40,568
1,534,155
Bachem Holding AG (B Shares)
 
13,714
1,195,733
Baloise Holdings AG
 
18,499
2,793,213
Banque Cantonale Vaudoise
 
12,082
1,264,388
Barry Callebaut AG
 
1,447
2,335,978
Basilea Pharmaceutica AG (a)(b)
 
7,193
309,082
Belimo Holding AG (Reg.)
 
4,012
1,861,865
Bell Food Group AG
 
1,125
326,149
BKW AG
 
8,547
1,267,290
Bossard Holding AG
 
2,694
615,437
Bucher Industries AG
 
2,653
1,024,547
Burckhardt Compression Holding AG
 
1,353
862,505
Burkhalter Holding AG
 
3,774
413,837
Bystronic AG
 
653
290,893
Cembra Money Bank AG
 
12,576
963,123
Clariant AG (Reg.)
 
88,744
1,330,315
Comet Holding AG
 
3,069
978,207
Compagnie Financiere Richemont SA Series A
 
216,157
29,878,740
Daetwyler Holdings AG (b)
 
3,278
681,097
DKSH Holding AG
 
15,314
997,888
DocMorris AG (a)(b)
 
4,801
428,525
Dorma Kaba Holding AG
 
1,390
741,686
Dottikon ES Holding AG (a)
 
1,430
373,348
DSM-Firmenich AG
 
74,934
8,452,783
EFG International
 
40,246
467,585
Emmi AG
 
913
888,915
Ems-Chemie Holding AG
 
2,739
2,195,967
Flughafen Zuerich AG
 
7,861
1,575,193
Forbo Holding AG (Reg.)
 
479
554,426
Galenica AG (d)
 
20,419
1,560,440
Geberit AG (Reg.)
 
13,329
7,157,133
Georg Fischer AG (Reg.)
 
33,233
2,331,823
Givaudan SA
 
3,701
15,887,023
Helvetia Holding AG (Reg.)
 
15,033
1,967,332
Huber+Suhner AG
 
7,338
586,721
Implenia AG
 
7,303
268,128
INFICON Holding AG
 
714
998,862
Interroll Holding AG
 
288
930,498
Intershop Holding AG
 
2,095
281,233
IWG PLC
 
318,622
740,131
Julius Baer Group Ltd.
 
82,737
4,439,532
Kardex Holding AG
 
2,733
725,431
Komax Holding AG (Reg.) (b)
 
1,865
322,178
Kuehne & Nagel International AG
 
21,894
5,804,262
Landis+Gyr Group AG
 
9,285
688,863
LEM Holding SA
 
221
376,487
Leonteq AG (b)
 
4,943
129,860
Lindt & Spruengli AG
 
44
5,092,847
Lindt & Spruengli AG (participation certificate)
 
377
4,351,341
Logitech International SA (Reg.)
 
66,224
5,191,299
Lonza Group AG
 
29,958
16,536,626
Medacta Group SA (d)
 
3,311
401,246
Medmix AG (d)
 
14,821
243,456
Meyer Burger Technology AG (a)
 
8,603,348
107,630
Mobilezone Holding AG
 
23,497
337,917
Mobimo Holding AG
 
2,974
831,458
Novartis AG
 
823,241
79,901,758
OC Oerlikon Corp. AG (Reg.)
 
84,525
367,064
Orior AG
 
4,249
303,682
Partners Group Holding AG
 
9,065
11,730,016
PSP Swiss Property AG
 
17,616
2,182,717
Sandoz Group AG
 
165,787
5,634,590
Schindler Holding AG:
 
 
 
 (participation certificate)
 
13,657
3,417,036
 (Reg.)
 
11,854
2,894,994
Schweiter Technologies AG
 
542
243,509
Sensirion Holding AG (a)(b)(d)
 
4,509
297,739
SFS Group AG
 
6,923
823,907
SGS SA (Reg.)
 
62,448
5,506,701
Siegfried Holding AG
 
1,653
1,586,017
Sig Group AG
 
124,047
2,482,964
Sika AG
 
61,058
17,488,791
SKAN Group AG
 
4,855
432,025
Sonova Holding AG
 
20,514
5,699,511
St.Galler Kantonalbank AG
 
1,312
675,803
Stadler Rail AG (b)
 
23,869
708,865
Straumann Holding AG
 
45,071
6,030,713
Sulzer AG (Reg.)
 
7,772
943,547
Swatch Group AG (Bearer)
 
10,844
2,278,447
Swatch Group AG (Bearer) (Reg.)
 
25,277
1,050,401
Swiss Life Holding AG
 
11,864
8,014,734
Swiss Prime Site AG
 
29,266
2,709,314
Swisscom AG
 
10,296
5,639,419
Swissquote Group Holding SA
 
4,669
1,269,785
Tecan Group AG
 
5,171
1,839,453
Temenos AG
 
26,096
1,632,331
u-blox Holding AG
 
3,334
308,647
UBS Group AG
 
1,318,955
34,822,995
Valiant Holding AG
 
6,860
801,484
VAT Group AG (d)
 
10,872
5,472,368
Vetropack Holding AG
 
9,172
310,306
Vontobel Holdings AG
 
11,603
653,832
Ypsomed Holding AG
 
1,771
633,842
Zehnder Group AG
 
6,353
371,816
Zurich Insurance Group Ltd.
 
58,380
28,210,385
TOTAL SWITZERLAND
 
 
443,697,499
Taiwan - 4.9%
 
 
 
Ability Opto-Electronics Technology Co. Ltd.
 
34,000
212,811
Acbel Polytech, Inc.
 
317,161
384,869
Accton Technology Corp.
 
206,000
2,880,806
Acer, Inc.
 
1,169,000
1,605,630
Acter Group Corp. Ltd.
 
50,000
318,869
ADATA Technology Co. Ltd.
 
134,333
407,750
Advanced Energy Solution Holding Co. Ltd.
 
16,000
306,827
Advanced Wireless Semiconductor Co. (a)
 
60,000
252,105
Advantech Co. Ltd.
 
188,696
2,190,900
Airoha Technology Corp. (a)
 
15,000
310,747
Alchip Technologies Ltd.
 
30,000
2,824,420
Allied Supreme Corp.
 
20,341
264,334
Allis Elelctric Co. Ltd.
 
88,000
391,748
Andes Technology Corp.
 
20,000
235,375
AP Memory Technology Corp.
 
42,000
484,447
Arcadyan Technology Corp.
 
75,000
394,698
Ardentec Corp.
 
210,000
468,179
ASE Technology Holding Co. Ltd.
 
1,233,718
5,540,132
Asia Cement Corp.
 
882,000
1,180,841
Asia Optical Co., Inc.
 
146,000
285,462
Asia Vital Components Co. Ltd.
 
133,132
2,621,458
ASMedia Technology, Inc.
 
11,000
649,274
ASPEED Tech, Inc.
 
12,000
1,121,622
ASUSTeK Computer, Inc.
 
285,000
3,730,490
AUO Corp.
 
2,649,800
1,479,027
AURAS Technology Co. Ltd.
 
25,000
603,320
BES Engineering Corp.
 
682,000
368,781
BizLink Holding, Inc.
 
56,847
399,768
Bora Pharmaceuticals Co. Ltd.
 
23,782
556,415
Capital Securities Corp.
 
633,490
481,779
Catcher Technology Co. Ltd.
 
232,000
1,546,931
Cathay Financial Holding Co. Ltd.
 
3,774,155
5,825,804
Center Laboratories, Inc.
 
284,683
378,683
Century Iron & Steel Industrial Co. Ltd.
 
71,000
483,916
Chailease Holding Co. Ltd.
 
613,530
3,230,165
Chang Hwa Commercial Bank
 
2,116,538
1,181,402
Chang Wah Technology Co. Ltd.
 
202,000
250,459
Channel Well Technology Co. Ltd.
 
95,000
218,678
Charoen Pokphand Enterprise Co. Ltd.
 
81,000
261,633
Chenbro Micom Co. Ltd.
 
28,000
243,190
Cheng Loong Corp.
 
366,000
327,182
Cheng Shin Rubber Industry Co. Ltd.
 
779,000
1,122,667
Cheng Uei Precision Industries Co. Ltd.
 
185,000
262,925
Chicony Electronics Co. Ltd.
 
247,125
1,527,134
Chicony Power Technology Co. Ltd.
 
72,000
381,877
Chin-Poon Industrial Co. Ltd.
 
165,000
207,589
China Airlines Ltd.
 
1,190,000
760,720
China Development Financial Ho (a)
 
6,418,957
2,678,635
China Motor Co. Ltd.
 
120,800
528,194
China Petrochemical Development Corp. (a)
 
1,586,532
546,184
China Steel Chemical Corp.
 
79,000
272,908
China Steel Corp.
 
4,623,000
3,515,641
Chipbond Technology Corp.
 
255,000
592,291
ChipMOS TECHNOLOGIES, Inc.
 
235,000
328,431
Chong Hong Construction Co. Ltd.
 
100,000
392,325
Chroma ATE, Inc.
 
157,000
1,272,843
Chung Hsin Electric & Machinery Manufacturing Corp.
 
158,000
883,711
Chung Hung Steel Co. Ltd.
 
420,000
298,078
Chunghwa Telecom Co. Ltd.
 
1,482,000
5,622,823
Cleanaway Co. Ltd.
 
35,000
207,344
Clevo Co. Ltd.
 
178,000
229,738
Co-Tech Development Corp.
 
134,000
266,370
Compal Electronics, Inc.
 
1,699,000
1,849,905
Compeq Manufacturing Co. Ltd.
 
394,000
926,561
Coretronic Corp.
 
133,000
417,899
CSBC Corp. (a)
 
458,000
254,506
CTBC Financial Holding Co. Ltd.
 
7,076,960
7,373,226
CTCI Corp.
 
267,000
422,537
Delta Electronics, Inc.
 
783,000
7,654,516
Depo Auto Parts Industries Co. Ltd.
 
49,000
295,089
Dynamic Holding Co. Ltd.
 
114,000
236,885
E Ink Holdings, Inc.
 
348,000
2,220,886
E.SUN Financial Holdings Co. Ltd.
 
5,572,802
4,674,512
ECLAT Textile Co. Ltd.
 
74,060
1,163,199
EirGenix, Inc. (a)
 
93,000
232,198
Elan Microelectronics Corp.
 
116,500
585,329
Elite Material Co. Ltd.
 
112,000
1,392,018
Elite Semiconductor Memory Technology, Inc.
 
120,000
324,423
eMemory Technology, Inc.
 
26,000
1,744,419
Ennoconn Corp.
 
48,920
488,339
ENNOSTAR, Inc. (a)
 
311,000
407,272
Episil Technologies, Inc.
 
153,398
327,626
Eternal Materials Co. Ltd.
 
398,426
385,807
Etron Technology, Inc.
 
137,169
199,569
EVA Airways Corp.
 
1,112,040
1,206,902
Evergreen International Storage & Transport Corp.
 
235,000
242,110
Evergreen Marine Corp. (Taiwan)
 
411,151
2,384,767
Evergreen Steel Corp.
 
77,000
349,622
Everlight Electronics Co. Ltd.
 
169,000
325,854
Far Eastern Department Stores Co. Ltd.
 
336,000
349,033
Far Eastern International Bank
 
1,064,000
499,648
Far Eastern New Century Corp.
 
1,166,000
1,161,066
Far EasTone Telecommunications Co. Ltd.
 
701,000
1,735,678
Faraday Technology Corp.
 
97,360
864,419
Farglory Land Development Co. Ltd.
 
124,000
278,465
Feng Hsin Iron & Steel Co.
 
192,000
413,817
Feng Tay Enterprise Co. Ltd.
 
224,168
1,112,609
First Financial Holding Co. Ltd.
 
4,293,771
3,593,165
Fitipower Integrated Technology, Inc.
 
39,553
296,302
FLEXium Interconnect, Inc.
 
154,940
433,144
FocalTech Systems Co. Ltd.
 
90,000
231,443
Formosa Chemicals & Fibre Corp.
 
1,404,000
2,382,055
Formosa Petrochemical Corp.
 
459,000
1,012,514
Formosa Plastics Corp.
 
1,521,000
3,189,843
Formosa Taffeta Co. Ltd.
 
356,000
249,248
Fortune Electric Co. Ltd.
 
47,000
1,208,541
Foxconn Technology Co. Ltd.
 
377,010
709,318
Foxsemicon Integrated Technology, Inc.
 
40,000
368,315
Fubon Financial Holding Co. Ltd.
 
3,096,723
6,539,527
Fulgent Sun International Holding Co. Ltd.
 
68,000
250,867
Fusheng Precision Co. Ltd.
 
47,000
402,556
General Interface Solution Holding Ltd.
 
148,000
276,636
Genius Electronic Optical Co. Ltd.
 
41,792
560,780
Getac Holdings Corp.
 
166,000
531,245
Giant Manufacturing Co. Ltd.
 
132,734
886,423
Gigabyte Technology Co. Ltd.
 
207,000
1,863,490
Global Brands Manufacture Ltd.
 
128,000
285,305
Global Mixed-mode Technology, Inc.
 
32,000
281,348
Global Unichip Corp.
 
38,000
1,575,392
GlobalWafers Co. Ltd.
 
88,000
1,395,759
Gloria Material Technology Corp.
 
261,000
432,379
Gold Circuit Electronics Ltd.
 
133,400
795,488
Goldsun Development & Construction Co. Ltd.
 
376,101
553,203
Grand Pacific Petrochemical Corp.
 
651,953
269,351
Grand Process Technology Corp.
 
9,000
298,683
Grape King Bio Ltd.
 
70,000
335,474
Great Tree Pharmacy Co. Ltd.
 
29,474
253,769
Great Wall Enterprise Co. Ltd.
 
291,025
509,513
Greatek Electronics, Inc.
 
138,000
257,416
Gudeng Precision Industrial Co. Ltd.
 
29,130
374,266
HannStar Board Corp.
 
130,000
221,939
HannStar Display Corp. (a)
 
987,000
311,716
Highwealth Construction Corp.
 
477,037
647,412
HIWIN Technologies Corp.
 
117,218
827,430
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
5,013,600
23,824,057
Hota Industrial Manufacturing Co. Ltd.
 
151,014
251,693
Hotai Finance Co. Ltd.
 
87,100
318,486
Hotai Motor Co. Ltd.
 
122,160
2,314,019
Hsin Kuang Steel Co. Ltd.
 
122,000
218,850
HTC Corp. (a)
 
316,000
410,488
Hua Nan Financial Holdings Co. Ltd.
 
3,493,806
2,526,494
Huaku Development Co. Ltd.
 
96,000
488,075
IBF Financial Holdings Co. Ltd. (a)
 
974,081
434,123
Innodisk Corp.
 
37,699
338,116
Innolux Corp.
 
3,510,003
1,523,789
International CSRC Investment Holdings Co.
 
500,579
275,049
International Games Systems Co. Ltd.
 
49,000
1,495,817
Inventec Corp.
 
1,092,000
1,748,691
ITE Tech, Inc.
 
64,000
324,661
ITEQ Corp.
 
102,931
342,565
Jentech Precision Industrial Co. Ltd.
 
34,699
1,030,543
Kaori Heat Treatment Co. Ltd.
 
32,000
420,280
Kenda Rubber Industrial Co. Ltd.
 
326,855
332,798
Kenmec Mechanical Engineering Co. Ltd.
 
82,000
228,402
Kindom Development Co. Ltd.
 
233,000
401,715
King Slide Works Co. Ltd.
 
24,000
891,135
King Yuan Electronics Co. Ltd.
 
449,000
1,304,178
King's Town Bank Co. Ltd.
 
341,000
586,173
Kinik Co.
 
45,000
349,011
Kinpo Electronics, Inc.
 
585,000
261,546
Kinsus Interconnect Technology Corp.
 
129,000
375,117
L&K Engineering Co. Ltd.
 
69,688
573,902
LandMark Optoelectronics Corp.
 
46,000
191,509
Largan Precision Co. Ltd.
 
40,000
2,661,578
Lien Hwa Industrial Corp.
 
357,704
727,322
Lite-On Technology Corp.
 
814,009
2,459,446
Lotes Co. Ltd.
 
34,182
1,494,650
Lotus Pharmaceutical Co. Ltd.
 
60,000
592,129
LuxNet Corp.
 
51,466
188,851
M31 Technology Corp.
 
9,000
326,986
Macronix International Co. Ltd.
 
794,380
669,297
Makalot Industrial Co. Ltd.
 
89,701
1,072,077
Marketech International Corp.
 
44,000
212,132
MediaTek, Inc.
 
612,000
18,419,714
Medigen Vaccine Biologics Corp. (a)
 
157,933
249,277
Mega Financial Holding Co. Ltd.
 
4,582,300
5,605,221
Mercuries Life Insurance Co. Ltd. (a)
 
1,526,000
267,719
Merida Industry Co. Ltd.
 
97,000
695,753
Merry Electronics Co. Ltd.
 
103,006
380,160
Micro-Star International Co. Ltd.
 
293,000
1,423,120
Microbio Co. Ltd.
 
204,126
260,866
MiTAC Holdings Corp.
 
351,483
484,385
MPI Corp.
 
37,000
495,714
Nan Pao Resins Chemical Co. Ltd.
 
23,000
249,497
Nan Ya Plastics Corp.
 
1,917,000
3,322,769
Nan Ya Printed Circuit Board Corp.
 
94,000
534,280
Nankang Rubber Tire Co. Ltd. (a)
 
224,000
403,302
Nanya Technology Corp.
 
506,000
1,019,516
Nien Made Enterprise Co. Ltd.
 
77,000
898,250
Novatek Microelectronics Corp.
 
233,000
4,394,758
Nuvoton Technology Corp.
 
95,000
374,888
Oneness Biotech Co. Ltd.
 
125,673
607,828
Orient Semiconductor Electronics Ltd.
 
180,000
348,348
Pan Jit International, Inc.
 
166,000
286,514
Pan-International Industrial
 
276,000
288,597
Pegatron Corp.
 
803,000
2,390,629
Pegavision Corp.
 
22,000
351,515
PharmaEssentia Corp. (a)
 
101,000
906,524
Phihong Technology Co. Ltd. (a)
 
167,887
273,763
Phison Electronics Corp.
 
67,000
1,427,653
PixArt Imaging, Inc.
 
61,000
293,876
Polaris Group (a)
 
164,000
341,773
Pou Chen Corp.
 
860,000
950,216
Powerchip Semiconductor Manufacturing Corp.
 
1,251,629
872,929
Powertech Technology, Inc.
 
275,000
1,461,873
Poya International Co. Ltd.
 
23,014
351,958
President Chain Store Corp.
 
217,000
1,821,645
President Securities Corp.
 
357,000
301,780
Primax Electronics Ltd.
 
210,000
621,391
Qisda Corp.
 
584,000
736,632
Quanta Computer, Inc.
 
1,088,000
8,523,706
Quanta Storage, Inc.
 
115,000
313,461
Radiant Opto-Electronics Corp.
 
181,000
1,101,581
Raydium Semiconductor Corp.
 
27,445
357,135
Realtek Semiconductor Corp.
 
198,000
3,117,928
RichWave Technology Corp. (a)
 
40,302
224,357
Ruentex Development Co. Ltd.
 
670,395
787,376
Ruentex Industries Ltd.
 
246,824
454,377
Run Long Construction Co. Ltd.
 
85,000
296,305
Sakura Development Co. Ltd.
 
131,000
301,384
Sanyang Motor Co. Ltd.
 
229,000
588,795
SDI Corp.
 
70,000
224,986
SerComm Corp.
 
123,000
464,523
Shihlin Electric & Engineering Corp.
 
98,000
873,707
Shin Kong Financial Holding Co. Ltd. (a)
 
5,392,410
1,422,457
Shin Zu Shing Co. Ltd.
 
65,279
346,014
Shinfox Energy Co. Ltd. (a)
 
50,728
207,979
Shinkong Insurance Co. Ltd.
 
104,000
307,112
Shinkong Synthetic Fiber Co.
 
539,000
282,408
Shiny Chemical Industrial Co. Ltd.
 
66,250
351,755
Sigurd Microelectronics Corp.
 
206,000
464,952
Silicon Integrated System Corp.
 
250,000
468,528
Simplo Technology Co. Ltd.
 
69,000
919,799
SINBON Electronics Co. Ltd.
 
97,000
834,051
Sino-American Silicon Products, Inc.
 
203,000
1,206,464
Sinon Corp.
 
209,000
259,705
Sinopac Financial Holdings Co.
 
4,198,619
2,819,664
Sitronix Technology Corp.
 
49,000
417,735
Solar Applied Materials Technology Corp.
 
263,000
356,912
Sporton International, Inc.
 
40,050
305,005
Standard Foods Corp.
 
185,714
218,274
Sunonwealth Electric Machine Industry Co. Ltd.
 
95,000
323,949
Sunplus Technology Co. Ltd.
 
256,000
242,602
Supreme Electronics Co. Ltd.
 
208,000
559,477
Synnex Technology International Corp.
 
506,100
1,234,837
Systex Corp.
 
84,000
320,592
Ta Chen Stainless Pipe Co. Ltd.
 
672,758
756,253
Ta Ya Electric Wire & Cable Co. Ltd.
 
361,122
628,131
Taichung Commercial Bank Co. Ltd.
 
1,454,944
788,522
TaiMed Biologics, Inc. (a)
 
98,678
258,017
Tainan Spinning Co. Ltd.
 
576,000
347,880
Taishin Financial Holdings Co. Ltd.
 
4,452,557
2,447,086
Taiwan Business Bank
 
2,488,084
1,289,489
Taiwan Cement Corp.
 
2,703,387
2,652,567
Taiwan Cogeneration Corp.
 
252,404
367,606
Taiwan Cooperative Financial Holding Co. Ltd.
 
4,055,716
3,253,492
Taiwan Fertilizer Co. Ltd.
 
287,000
574,048
Taiwan Glass Industry Corp. (a)
 
653,000
342,604
Taiwan High Speed Rail Corp.
 
691,000
632,396
Taiwan Hon Chuan Enterprise Co. Ltd.
 
125,000
607,992
Taiwan Mask Corp.
 
103,000
211,663
Taiwan Mobile Co. Ltd.
 
691,000
2,201,481
Taiwan Paiho Ltd.
 
155,000
301,910
Taiwan Secom Co.
 
111,000
436,790
Taiwan Semiconductor Co. Ltd.
 
130,000
288,587
Taiwan Semiconductor Manufacturing Co. Ltd.
 
9,916,000
237,004,231
Taiwan Surface Mounting Technology Co. Ltd.
 
131,000
477,816
Taiwan Union Technology Corp.
 
104,000
582,304
Taiwan-Asia Semiconductor Corp.
 
207,000
245,012
Tatung Co. Ltd. (a)
 
628,000
1,253,815
TCI Co. Ltd.
 
56,557
249,719
TECO Electric & Machinery Co. Ltd.
 
485,000
822,545
The Shanghai Commercial & Savings Bank Ltd.
 
1,544,437
2,195,696
Tong Hsing Electronics Industries Ltd.
 
84,954
381,675
Tong Yang Industry Co. Ltd.
 
153,000
555,962
Topco Scientific Co. Ltd.
 
65,393
498,951
Topkey Corp.
 
43,000
258,950
TPK Holding Co. Ltd.
 
255,000
298,371
Transcend Information, Inc.
 
97,000
277,968
Tripod Technology Corp.
 
185,000
1,107,792
TSEC Corp.
 
297,911
253,501
TSRC Corp.
 
389,000
286,844
TTY Biopharm Co. Ltd.
 
115,000
270,181
Tung Ho Steel Enterprise Corp.
 
214,040
479,952
TXC Corp.
 
139,000
476,039
U-Ming Marine Transport Corp.
 
201,000
333,601
Uni-President Enterprises Corp.
 
1,928,000
4,514,290
Unimicron Technology Corp.
 
555,000
3,063,707
United Integrated Services Co.
 
71,000
855,127
United Microelectronics Corp.
 
4,515,000
6,924,616
United Renewable Energy Co. Ltd.
 
710,796
262,996
Universal Vision Biotchnology Co. Ltd.
 
27,260
213,115
UPI Semiconductor Corp.
 
27,000
224,855
USI Corp.
 
443,000
214,907
Vanguard International Semiconductor Corp.
 
363,000
949,549
Via Technologies, Inc.
 
86,000
334,162
VisEra Technologies Co. Ltd.
 
47,000
389,569
Visual Photonics Epitaxy Co. Ltd.
 
69,000
324,614
Voltronic Power Technology Corp.
 
27,075
1,278,836
Wafer Works Corp.
 
280,511
338,159
Waffer Technology Corp.
 
69,000
198,275
Wah Lee Industrial Corp.
 
74,000
284,425
Walsin Lihwa Corp.
 
1,152,457
1,299,458
Walsin Technology Corp.
 
135,875
459,771
Wan Hai Lines Ltd.
 
309,305
479,579
Win Semiconductors Corp.
 
141,389
627,279
Winbond Electronics Corp.
 
1,271,523
1,006,603
WinWay Technology Co. Ltd.
 
12,000
304,396
Wisdom Marine Lines Co. Ltd.
 
202,000
421,329
Wistron Corp.
 
1,054,829
3,605,377
Wistron NeWeb Corp.
 
166,149
761,097
Wiwynn Corp.
 
39,000
2,769,491
Wowprime Corp.
 
40,587
291,699
WPG Holding Co. Ltd.
 
648,760
1,749,073
WT Microelectronics Co. Ltd.
 
240,572
1,096,297
XinTec, Inc.
 
79,000
281,021
Yageo Corp.
 
136,061
2,590,682
Yang Ming Marine Transport Corp.
 
733,000
1,169,826
Yankey Engineering Co. Ltd.
 
20,713
241,379
YFY, Inc.
 
513,000
487,092
Yieh Phui Enterprise Co.
 
430,996
203,051
Yuanta Financial Holding Co. Ltd.
 
4,012,301
3,756,993
Yulon Finance Corp.
 
115,643
522,958
Yulon Motor Co. Ltd.
 
272,248
570,114
Zhen Ding Technology Holding Ltd.
 
276,000
975,185
ZillTek Technology Corp.
 
16,000
183,434
TOTAL TAIWAN
 
 
600,633,421
Tanzania - 0.0%
 
 
 
Helios Towers PLC (a)(b)
 
342,588
422,944
Thailand - 0.5%
 
 
 
Advanced Info Service PCL (For. Reg.)
 
178,700
946,886
Advanced Information Service PCL NVDR
 
297,800
1,577,967
AEON Thana Sinsap Thailand PCL unit
 
66,600
288,248
Airports of Thailand PCL NVDR
 
1,713,300
2,999,969
Amata Corp. PCL NVDR
 
502,000
305,236
AP Thailand PCL NVDR
 
1,361,000
394,031
Asset World Corp. PCL (For. Reg.)
 
2,400,600
282,630
Aurora Design PCL NVDR
 
569,800
206,077
B. Grimm Power PCL (For. Reg.)
 
225,300
155,007
Bangchak Corp. PCL NVDR
 
444,600
499,442
Bangkok Chain Hospital PCL NVDR
 
679,000
366,977
Bangkok Commercial Asset Management PCL (For. Reg.)
 
428,000
113,919
Bangkok Dusit Medical Services PCL:
 
 
 
 (For. Reg.)
 
1,755,900
1,367,461
 NVDR
 
2,715,100
2,114,467
Bangkok Expressway and Metro PCL (For. Reg.)
 
2,773,700
617,520
Bangkok Life Assurance PCL NVDR
 
375,800
181,500
Banpu PCL NVDR
 
4,175,400
621,254
BTS Group Holdings PCL:
 
 
 
 (For. Reg.)
 
1,364,900
231,372
 NVDR
 
2,186,800
371,970
Bumrungrad Hospital PCL:
 
 
 
 (For. Reg.)
 
93,900
618,096
 NVDR
 
150,600
991,323
Carabao Group PCL NVDR
 
195,300
357,716
Central Pattana PCL:
 
 
 
 (For. Reg.)
 
494,900
841,719
 NVDR
 
334,000
568,062
Central Plaza Hotel PCL NVDR
 
286,400
345,357
Central Retail Corp. PCL (For. Reg.)
 
570,683
526,438
CH. Karnchang PCL (For. Reg.)
 
388,600
236,651
Charoen Pokphand Foods PCL:
 
 
 
 (For. Reg.)
 
726,960
386,676
 NVDR
 
925,400
492,228
Chularat Hospital PCL NVDR unit
 
3,223,500
251,196
Com7 PCL NVDR
 
606,200
296,330
CP ALL PCL:
 
 
 
 (For. Reg.)
 
1,146,600
1,767,317
 NVDR
 
1,198,600
1,847,467
CP Axtra PCL NVDR
 
889,700
773,983
Delta Electronics PCL:
 
 
 
 (For. Reg.)
 
606,800
1,128,735
 NVDR
 
1,207,800
2,246,680
Dohome PCL NVDR
 
706,289
204,090
Electricity Generating PCL (For. Reg.)
 
81,000
244,365
Energy Absolute PCL:
 
 
 
 (For. Reg.)
 
372,400
305,212
 NVDR
 
353,900
290,049
Energy Earth PCL (For. Reg.) (a)(c)
 
7,600
0
Global Power Synergy Public Co. Ltd. (For. Reg.)
 
180,500
236,004
Gulf Energy Development PCL:
 
 
 
 (For. Reg.)
 
171,300
184,540
 NVDR
 
977,400
1,052,943
Hana Microelectronics PCL (For. Reg.)
 
154,400
159,363
Home Product Center PCL:
 
 
 
 (For. Reg.)
 
1,398,300
389,267
 NVDR
 
1,244,100
346,340
Indorama Ventures PCL:
 
 
 
 (For. Reg.)
 
440,100
281,700
 NVDR
 
290,800
186,136
Intouch Holdings PCL:
 
 
 
 (For. Reg.)
 
287,200
515,898
 NVDR
 
155,900
280,044
IRPC PCL NVDR
 
7,216,700
380,702
Jaymart Group Holdings PCL NVDR
 
416,800
155,335
JMT Network Services PCL (For. Reg.)
 
107,638
59,311
Kasikornbank PCL NVDR
 
270,600
947,331
KCE Electronics PCL (For. Reg.)
 
228,200
238,467
Krung Thai Bank PCL:
 
 
 
 (For. Reg.)
 
425,800
192,055
 NVDR
 
1,091,100
492,134
Krungthai Card PCL:
 
 
 
 (For. Reg.)
 
264,900
304,607
 NVDR
 
219,600
252,517
Land & House PCL:
 
 
 
 (For. Reg.)
 
1,721,500
344,599
 NVDR
 
2,093,500
419,064
MBK PCL NVDR unit
 
615,000
280,121
Mega Lifesciences PCL NVDR
 
253,700
278,561
Minor International PCL:
 
 
 
 (For. Reg.)
 
353,049
312,164
 NVDR
 
1,100,800
973,321
Muangthai Leasing PCL (For. Reg.)
 
195,300
237,033
Ngern Tid Lor PCL NVDR
 
713,688
398,813
Osotspa PCL NVDR
 
779,200
448,468
Plan B Media PCL NVDR unit
 
1,395,500
312,604
PTT Exploration and Production PCL:
 
 
 
 (For. Reg.)
 
318,800
1,330,046
 NVDR
 
235,000
980,429
PTT Global Chemical PCL:
 
 
 
 (For. Reg.)
 
422,700
415,796
 NVDR
 
511,400
503,047
PTT Oil & Retail Business PCL:
 
 
 
 (For. Reg.)
 
604,000
302,454
 NVDR
 
768,400
384,778
PTT PCL:
 
 
 
 (For. Reg.)
 
2,370,400
2,142,449
 NVDR
 
1,565,800
1,415,224
Quality Houses PCL NVDR
 
4,620,600
270,672
Ratch Group PCL NVDR unit
 
569,300
439,378
Sansiri PCL NVDR
 
7,862,300
358,227
SCB X PCL:
 
 
 
 (For. Reg.)
 
180,900
516,646
 NVDR
 
180,000
514,076
SCG Packaging PCL NVDR
 
601,400
522,149
Siam Cement PCL:
 
 
 
 (For. Reg.)
 
168,700
1,127,139
 NVDR
 
146,400
978,145
Siam Global House PCL NVDR
 
885,500
384,023
Sri Trang Agro-Industry PCL NVDR
 
558,000
261,983
Srinanaporn Marketing PCL NVDR
 
445,100
201,614
Srisawad Corp. PCL (For. Reg.)
 
187,130
204,816
Star Petroleum Refining PCL NVDR
 
1,159,300
247,814
STARK Corp. PCL NVDR (a)(c)
 
4,002,200
2,154
Supalai PCL (For. Reg.)
 
381,875
202,955
Thai Airways International PCL (For. Reg.) (a)(c)
 
126,000
11,257
Thai Oil PCL:
 
 
 
 (For. Reg.)
 
271,197
394,085
 NVDR
 
255,600
371,420
Thai Union Frozen Products PCL (For. Reg.)
 
817,400
326,692
Thanachart Capital PCL NVDR
 
218,800
288,298
Thonburi Healthcare Group PCL NVDR
 
228,100
245,389
TISCO Financial Group PCL NVDR
 
125,300
327,528
TMBThanachart Bank PCL NVDR
 
12,175,400
591,692
TOA Paint Thailand PCL NVDR
 
441,900
299,470
True Corp. PCL (a)
 
1,687,994
347,148
True Corp. PCL NVDR (a)
 
2,824,723
580,925
WHA Corp. PCL:
 
 
 
 (For. Reg.)
 
1,748,400
234,293
 NVDR
 
2,139,700
286,729
TOTAL THAILAND
 
 
57,032,005
Turkey - 0.3%
 
 
 
Akbank TAS
 
1,281,854
2,353,042
Aksa Akrilik Kimya Sanayii
 
80,723
290,128
Alarko Holding AS
 
96,863
348,735
Anadolu Efes Biracilik Ve Malt Sanayii A/S
 
96,808
545,523
Anadolu Sigoria (a)
 
106,526
296,031
Aselsan A/S
 
594,295
1,114,776
Bim Birlesik Magazalar A/S JSC
 
188,000
2,246,509
Cimsa Cimento Sanayi Ve Ticaret A/S
 
247,428
244,019
Coca-Cola Icecek Sanayi A/S
 
33,408
747,873
Dogan Sirketler Grubu Holding A/S
 
1,005,149
452,819
Dogus Otomotiv Servis ve Ticaret A/S
 
27,147
237,847
Ege Endustri Ve Ticaret A/S
 
577
311,784
Eldorado Gold Corp. (a)
 
83,411
1,188,773
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S
 
1,038,151
312,219
Enerjisa Enerji A/S (d)
 
159,020
334,133
Eregli Demir ve Celik Fabrikalari T.A.S.
 
638,497
848,931
Europower Enerji VE Otomasyon Teknolojileri Sanayi Ticaret A/S
 
45,412
208,928
Ford Otomotiv Sanayi A/S
 
29,707
1,021,841
Haci Omer Sabanci Holding A/S
 
447,800
1,276,219
Hektas Ticaret A/S (a)
 
593,331
278,837
Is Yatirim Menkul Degerler A/S
 
264,068
304,786
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D
 
597,848
480,327
Kiler Holding A/S
 
152,108
209,002
Koc Holding A/S
 
316,804
2,211,722
Kontrolmatik Enerji Ve Muhendislik A/S
 
44,766
326,212
Koza Altin Isletmeleri A/S
 
607,904
436,600
Mavi Jeans Class B (d)
 
157,488
449,809
MIA Teknoloji A/S
 
108,054
187,507
Migros Turk Ticaret A/S
 
42,371
578,270
Nuh Cimento Sanayi A/S
 
30,926
291,009
Odas Elektrik Uretim Ve Sanayi (a)
 
789,192
232,959
Otokar Otomotiv ve Savunma Sanayi A.S.
 
22,674
366,509
Oyak Cimento Fabrikalari A/S (a)
 
200,250
374,701
Pegasus Hava Tasimaciligi A/S (a)
 
23,204
740,837
Peker Gayrimenkul Yatirim Ortakligi A/S
 
240,602
59,730
Petkim Petrokimya Holding A/S (a)
 
642,814
411,258
Politeknik Metal Sanayi Ve Ticaret A/S
 
331
189,077
Reeder Teknoloji Sanayi VE Ticaret A/S
 
110,098
141,760
Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A/S
 
251,245
262,368
Sasa Polyester Sanayi A/S
 
560,785
714,785
Smart Gunes Enerjisi Teknolojileri ArGE Uretim Sanayi ve Ticaret A/S
 
117,108
200,687
Sok Marketler Ticaret A/S
 
163,959
295,150
TAV Havalimanlari Holding A/S (a)
 
95,050
645,382
Tofas Turk Otomobil Fabrikasi A/S
 
60,784
516,602
Turk Hava Yollari AO (a)
 
233,779
2,353,219
Turkcell Iletisim Hizmet A/S
 
542,975
1,354,661
Turkiye Is Bankasi A/S Series C
 
3,640,801
1,541,252
Turkiye Petrol Rafinerileri A/S
 
396,709
2,398,414
Turkiye Sise ve Cam Fabrikalari A/S
 
659,012
1,025,565
Ulker Biskuvi Sanayi A/S (a)
 
95,436
336,820
Vestel Elektonik Sanayi ve Ticaret A/S (a)
 
81,025
208,903
Yapi ve Kredi Bankasi A/S
 
1,432,651
1,427,951
TOTAL TURKEY
 
 
35,932,801
United Arab Emirates - 0.3%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
1,187,776
2,700,299
Abu Dhabi Islamic Bank
 
599,838
1,822,590
Abu Dhabi National Oil Co. for Distribution PJSC
 
1,279,919
1,216,183
Agthia Group PJSC
 
169,651
263,745
Air Arabia PJSC (a)
 
986,914
720,120
Ajman Bank PJSC (a)
 
566,316
289,873
Al Yah Satellite Communications Co. PJSC (Yahsat)
 
638,125
416,973
Aldar Properties PJSC
 
1,557,151
2,314,804
Americana Restaurants International PLC
 
1,034,152
937,604
Aramex Co.
 
366,368
258,350
Dana Gas PJSC
 
2,603,001
489,006
Dubai Financial Market PJSC
 
753,755
283,205
Dubai Investments Ltd.
 
943,413
559,950
Dubai Islamic Bank Pakistan Ltd.
 
1,189,591
1,800,791
Emaar Properties PJSC
 
2,661,066
5,948,257
Emirates Central Cooling Systems Corp.
 
917,102
397,014
Emirates NBD Bank PJSC
 
764,962
3,540,623
Emirates Telecommunications Corp.
 
1,397,728
6,469,377
First Abu Dhabi Bank PJSC
 
1,786,716
6,071,011
Gulf Navigation Holding PJSC (a)
 
166,428
332,593
Multiply Group (a)
 
1,658,714
1,038,700
National Central Cooling Co. (a)
 
370,399
306,573
Network International Holdings PLC (a)(d)
 
200,417
984,695
NMC Health PLC (a)(c)
 
17,953
4
Ras Al Khaimah Ceramics
 
337,433
253,564
Sharjah Islamic Bank
 
642,418
391,793
Waha Capital PJSC
 
465,398
190,067
TOTAL UNITED ARAB EMIRATES
 
 
39,997,764
United Kingdom - 6.9%
 
 
 
3i Group PLC
 
389,177
13,904,302
4Imprint Group PLC
 
11,603
910,508
A.G. Barr PLC
 
53,394
380,962
AB Dynamics PLC
 
9,481
214,430
Abrdn PLC
 
759,479
1,390,295
Admiral Group PLC
 
105,806
3,608,008
Advanced Medical Solutions Group PLC
 
112,876
267,138
AJ Bell PLC
 
131,352
530,963
Allfunds Group PLC (b)
 
139,959
887,224
Alpha Financial Markets Consulting PLC
 
58,639
245,462
Alpha FX Group PLC
 
15,321
409,689
Alphawave IP Group PLC (a)(b)
 
142,191
226,713
AngloGold Ashanti PLC
 
168,920
3,884,924
Ascential PLC (a)(b)
 
182,312
712,583
Ashmore Group PLC
 
198,382
479,416
Ashtead Group PLC
 
176,072
12,853,029
Ashtead Technology Holdings PLC
 
35,770
365,170
Associated British Foods PLC
 
135,489
4,496,615
Assura PLC
 
1,275,681
657,058
Aston Martin Lagonda Global Holdings PLC (a)(b)(d)
 
98,404
182,228
AstraZeneca PLC (United Kingdom)
 
623,316
94,275,892
Auction Technology Group PLC (a)(b)
 
43,633
272,063
Auto Trader Group PLC (d)
 
365,781
3,171,131
Aviva PLC
 
1,087,114
6,326,084
B&M European Value Retail SA
 
403,237
2,615,058
Babcock International Group PLC
 
108,033
685,088
BAE Systems PLC
 
1,216,472
20,232,626
Balfour Beatty PLC
 
222,349
1,010,768
Barclays PLC
 
6,090,218
15,355,236
Barratt Developments PLC
 
391,169
2,222,506
Beazley PLC
 
273,484
2,265,683
Bellway PLC
 
49,361
1,560,480
Berkeley Group Holdings PLC
 
42,373
2,495,930
Big Yellow Group PLC
 
76,408
1,031,137
Bodycote PLC
 
86,776
754,679
Breedon Group PLC
 
115,998
524,702
Bridgepoint Group PLC (d)
 
109,606
315,552
British American Tobacco PLC (United Kingdom)
 
806,480
23,675,251
British Land Co. PLC
 
345,099
1,673,128
Britvic PLC
 
96,990
1,071,960
BT Group PLC
 
2,600,744
3,334,253
Bunzl PLC
 
134,702
5,174,061
Burberry Group PLC
 
146,216
2,092,152
Bytes Technology Group PLC
 
99,355
606,096
Capita Group PLC (a)(b)
 
932,159
156,546
Central Asia Metals PLC
 
137,537
361,764
Centrica PLC
 
2,165,808
3,462,692
Chemring Group PLC
 
128,513
602,188
CK Hutchison Holdings Ltd.
 
1,063,500
5,165,181
Clarkson PLC
 
12,020
583,511
Close Brothers Group PLC
 
65,898
374,989
Coats Group PLC (b)
 
663,798
676,001
Coca-Cola European Partners PLC
 
82,717
5,957,278
Compass Group PLC
 
684,118
19,027,872
Computacenter PLC
 
35,384
1,141,607
ConvaTec Group PLC (d)
 
658,859
2,058,193
Craneware PLC
 
13,933
370,833
Cranswick PLC
 
22,573
1,215,683
Crest Nicholson Holdings PLC
 
128,995
299,644
Croda International PLC
 
53,736
3,095,422
Currys PLC (a)(b)
 
419,393
324,126
CVS Group PLC
 
32,442
396,866
Darktrace PLC (a)
 
144,279
1,086,030
DCC PLC (United Kingdom)
 
39,151
2,683,324
Deliveroo PLC Class A (a)(d)
 
388,286
649,175
Derwent London PLC
 
38,867
998,522
Diageo PLC
 
896,453
30,981,127
Diploma PLC
 
54,130
2,453,912
Direct Line Insurance Group PLC
 
539,750
1,253,118
Discoverie Group PLC
 
44,895
395,495
Domino's Pizza UK & IRL PLC
 
151,188
615,491
Dowlais Group PLC
 
592,251
604,619
Dr. Martens Ltd.
 
265,536
252,168
Drax Group PLC
 
159,192
1,030,397
DS Smith PLC
 
554,310
2,427,004
Dunelm Group PLC
 
52,558
666,590
easyJet PLC
 
125,956
847,694
Elementis PLC
 
258,739
455,863
Empiric Student Property PLC
 
289,065
326,887
Entain PLC
 
260,016
2,555,687
Essentra PLC
 
144,371
318,584
FDM Group Holdings PLC
 
50,188
216,671
Fever-Tree Drinks PLC
 
45,173
639,532
Firstgroup PLC
 
284,286
576,182
Flutter Entertainment PLC (a)
 
71,302
13,297,491
Forterra PLC (d)
 
124,287
255,628
Frasers Group PLC (a)
 
48,489
494,713
Future PLC
 
44,639
369,813
Games Workshop Group PLC
 
13,398
1,659,080
Gamma Communications PLC
 
41,911
684,998
GB Group PLC (b)
 
121,254
436,054
Genuit Group PLC
 
108,653
592,625
Genus PLC
 
28,289
637,687
Grafton Group PLC unit
 
84,100
994,755
Grainger Trust PLC
 
289,228
927,003
Great Portland Estates PLC
 
97,172
475,971
Greggs PLC
 
41,660
1,418,012
Halfords Group PLC
 
98,449
185,756
Halma PLC
 
151,512
4,178,333
Hammerson PLC
 
1,618,078
550,757
Harbour Energy PLC
 
255,415
922,035
Hargreaves Lansdown PLC
 
143,504
1,459,269
Hays PLC
 
658,763
757,716
Hill & Smith Holdings PLC
 
33,591
793,302
Hilton Food Group PLC
 
37,524
429,495
Hiscox Ltd.
 
140,691
2,162,345
Hollywood Bowl Group PLC
 
83,727
357,281
Home (REIT) PLC (a)(c)
 
386,246
183,642
Howden Joinery Group PLC
 
220,892
2,417,897
HSBC Holdings PLC (United Kingdom)
 
7,701,871
66,759,458
Hunting PLC
 
67,679
302,755
Ibstock PLC (d)
 
223,972
414,759
IG Group Holdings PLC
 
153,491
1,434,624
IMI PLC
 
103,065
2,256,311
Impax Asset Management Group PLC
 
46,904
261,103
Imperial Brands PLC
 
330,655
7,555,518
Inchcape PLC
 
151,392
1,513,375
Indivior PLC (a)
 
47,503
855,933
Informa PLC
 
544,937
5,418,809
IntegraFin Holdings PLC
 
130,127
487,801
InterContinental Hotel Group PLC
 
66,347
6,471,089
Intermediate Capital Group PLC
 
116,491
3,056,788
International Distributions Services PLC (a)
 
301,628
1,019,889
Intertek Group PLC
 
64,175
3,964,587
Investec PLC
 
255,712
1,634,370
IP Group PLC
 
446,599
267,584
ITV PLC
 
1,475,997
1,296,565
J Sainsbury PLC
 
664,204
2,186,104
J.D. Wetherspoon PLC (a)
 
39,527
357,838
JD Sports Fashion PLC
 
1,050,052
1,516,779
Jet2 PLC
 
69,900
1,254,253
John Wood Group PLC (a)
 
296,565
549,930
Johnson Matthey PLC
 
73,698
1,617,089
Johnson Service Group PLC
 
226,302
366,477
Jupiter Fund Management PLC
 
209,468
202,849
Just Eat Takeaway.com NV (a)(b)(d)
 
78,141
1,156,648
Just Group PLC
 
474,388
614,111
Kainos Group PLC
 
39,287
481,583
Keller Group PLC
 
30,583
421,893
Kier Group PLC
 
197,458
331,117
Kingfisher PLC
 
755,911
2,328,451
Lancashire Holdings Ltd.
 
102,824
783,751
Land Securities Group PLC
 
277,105
2,252,399
Learning Technologies Group PLC (b)
 
275,584
252,413
Legal & General Group PLC
 
2,403,267
7,087,085
Liontrust Asset Management PLC
 
33,584
283,263
Lloyds Banking Group PLC
 
25,484,332
16,447,167
London Stock Exchange Group PLC
 
165,156
18,206,815
Londonmetric Properity PLC
 
816,074
2,004,780
M&G PLC
 
894,129
2,246,808
Man Group PLC
 
484,682
1,560,114
Marks & Spencer Group PLC
 
794,509
2,539,528
Marlowe PLC (a)
 
34,529
211,414
Marshalls PLC
 
109,163
366,928
ME Group International PLC
 
103,630
206,926
Melrose Industries PLC
 
539,388
4,258,283
Mitchells & Butlers PLC (a)
 
117,910
355,813
Mitie Group PLC
 
541,118
791,100
Mobico Group PLC
 
237,395
164,337
Molten Ventures PLC (a)(b)
 
74,981
261,871
Moneysupermarket.com Group PLC
 
230,011
619,082
Moonpig Group PLC (a)
 
145,367
283,000
Morgan Advanced Materials PLC
 
133,514
523,854
Morgan Sindall PLC
 
20,232
572,612
National Grid PLC
 
1,467,049
19,243,520
NatWest Group PLC
 
2,288,863
8,639,047
NCC Group Ltd.
 
157,852
267,463
Next Fifteen Communications Group PLC
 
38,600
432,647
Next PLC
 
48,288
5,435,271
Ninety One PLC
 
119,425
251,747
Ocado Group PLC (a)(b)
 
237,219
1,046,648
OSB Group PLC
 
161,630
829,267
Oxford Instruments PLC
 
24,266
685,268
Oxford Nanopore Technologies Ltd. (a)(b)
 
240,219
295,213
Pagegroup PLC
 
140,363
782,593
Pan African Resources PLC
 
868,441
262,609
Paragon Banking Group PLC
 
87,276
780,294
Pearson PLC
 
252,044
3,058,262
Pennon Group PLC
 
122,228
1,016,418
Pepco Group NV (a)(b)
 
74,571
354,619
Persimmon PLC
 
131,672
2,145,481
Pets At Home Group PLC
 
194,004
708,345
Phoenix Group Holdings PLC (b)
 
305,934
1,872,407
Picton Property Income Ltd.
 
326,575
270,552
Playtech Ltd. (a)
 
104,920
694,845
Polar Capital Holdings PLC
 
53,559
362,062
Premier Foods PLC
 
276,728
559,481
Primary Health Properties PLC
 
564,529
647,211
QinetiQ Group PLC
 
221,324
950,244
Quilter PLC (b)(d)
 
586,950
805,299
Rathbone Brothers PLC
 
27,277
558,296
Reckitt Benckiser Group PLC
 
287,205
16,056,772
Redde Northgate PLC
 
109,567
526,417
Redrow PLC
 
107,281
861,961
RELX PLC (London Stock Exchange)
 
753,202
30,946,721
Renew Holdings PLC
 
36,617
432,383
Renewi PLC (a)
 
33,074
232,674
Renishaw PLC
 
15,065
781,216
Rentokil Initial PLC
 
1,014,849
5,122,931
Rightmove PLC
 
323,811
2,083,783
Rolls-Royce Holdings PLC (a)
 
3,386,057
17,363,786
Rotork PLC
 
345,404
1,395,793
RS GROUP PLC
 
199,355
1,835,897
RWS Holdings PLC
 
130,788
282,074
Safestore Holdings PLC
 
90,776
877,374
Sage Group PLC
 
409,240
5,962,526
Savills PLC
 
56,009
757,249
Schroders PLC
 
315,988
1,393,005
Segro PLC
 
500,556
5,303,984
Serco Group PLC
 
436,538
999,312
Serica Energy PLC
 
125,161
290,895
Severn Trent PLC
 
107,486
3,313,406
Shaftesbury Capital PLC
 
590,759
994,332
Smith & Nephew PLC
 
354,363
4,293,340
Smiths Group PLC
 
137,439
2,775,268
Softcat PLC
 
52,704
1,033,285
Spectris PLC
 
41,457
1,725,026
Spirax-Sarco Engineering PLC (b)
 
29,520
3,262,630
Spire Healthcare Group PLC (d)
 
137,523
423,590
Spirent Communications PLC
 
288,409
701,663
SSE PLC
 
436,748
9,078,418
SSP Group PLC
 
328,062
807,152
St. James's Place PLC
 
225,111
1,225,288
Standard Chartered PLC (United Kingdom)
 
912,011
7,835,580
SThree PLC
 
64,689
344,749
Subsea 7 SA
 
91,260
1,480,403
Supermarket Income (REIT) PLC
 
547,397
493,848
Target Healthcare (REIT) PLC
 
303,676
295,219
Tate & Lyle PLC
 
165,100
1,359,522
Taylor Wimpey PLC
 
1,429,110
2,355,397
Telecom Plus PLC
 
32,404
702,914
Tesco PLC
 
2,814,067
10,389,735
The PRS REIT PLC
 
260,855
257,828
The Weir Group PLC
 
102,097
2,615,294
THG PLC (a)(b)
 
271,325
215,287
TORM PLC
 
16,887
583,285
TP ICAP Group PLC
 
315,474
817,966
Trainline PLC (a)(d)
 
186,551
695,585
Travis Perkins PLC
 
94,582
889,933
Tritax Big Box REIT PLC
 
766,554
1,452,097
Trustpilot Group PLC (a)(d)
 
129,900
308,726
Tyman PLC
 
106,273
500,631
Unilever PLC
 
1,003,083
51,890,292
Unite Group PLC
 
144,773
1,678,762
United Utilities Group PLC
 
270,108
3,525,328
Urban Logistics REIT PLC
 
224,218
324,439
Vesuvius PLC
 
93,092
558,933
Victrex PLC
 
40,146
635,082
Virgin Money UK PLC
 
486,626
1,300,040
Vistry Group PLC
 
132,008
1,976,108
Vodafone Group PLC
 
9,258,074
7,807,353
Volex PLC
 
70,968
284,657
Volution Group PLC
 
99,376
540,783
Warehouse (REIT) PLC
 
231,957
232,453
Watches of Switzerland Group PLC (a)(d)
 
104,716
443,313
WH Smith PLC
 
55,709
763,635
Whitbread PLC
 
74,946
2,965,857
Wickes Group PLC
 
149,733
272,416
Wise PLC (a)
 
246,397
2,390,730
Workspace Group PLC
 
59,102
367,408
WPP PLC
 
432,062
4,330,628
Yellow Cake PLC (a)(d)
 
94,168
757,780
YouGov PLC
 
44,618
485,046
TOTAL UNITED KINGDOM
 
 
847,150,444
United States of America - 5.1%
 
 
 
Bausch Health Cos., Inc. (Canada) (a)
 
114,382
1,001,986
BP PLC
 
6,874,004
44,307,335
Brookfield Renewable Corp.
 
60,502
1,405,480
BRP, Inc.
 
14,764
993,311
Burford Capital Ltd.
 
76,534
1,185,850
Carnival PLC (a)
 
57,000
764,285
CRH PLC
 
279,188
21,754,870
CSL Ltd.
 
194,224
34,508,969
CyberArk Software Ltd. (a)
 
17,121
4,096,199
Diversified Gas & Oil PLC (b)
 
22,935
322,694
Energy Fuels, Inc. (a)(b)
 
71,692
371,310
Experian PLC
 
367,465
14,821,313
Ferrovial SE
 
205,576
7,415,406
Fiverr International Ltd. (a)(b)
 
14,199
291,221
GCC S.A.B. de CV
 
69,000
785,349
GFL Environmental, Inc.
 
90,923
2,901,425
GSK PLC
 
1,651,701
34,267,708
Haleon PLC
 
2,750,276
11,615,359
Holcim AG
 
207,585
17,376,479
InMode Ltd. (a)
 
32,674
561,666
James Hardie Industries PLC CDI (a)
 
176,700
6,074,584
JBS SA
 
316,400
1,428,266
Legend Biotech Corp. ADR (a)
 
30,679
1,341,899
MDA Ltd. (a)
 
43,738
451,788
Monday.com Ltd. (a)
 
11,711
2,217,244
Nestle SA (Reg. S)
 
1,072,619
107,691,160
Parade Technologies Ltd.
 
32,000
725,191
Primo Water Corp.
 
68,838
1,298,973
QIAGEN NV (Germany)
 
89,611
3,737,332
Reliance Worldwide Corp. Ltd.
 
324,672
1,065,683
Resolute Forest Products, Inc. rights (a)(c)
 
19,734
0
RHI Magnesita NV
 
8,340
377,249
Riskified Ltd. (a)(b)
 
46,338
238,641
Roche Holding AG:
 
 
 
 (Bearer)
 
16,726
4,381,421
 (participation certificate)
 
278,202
66,661,155
Sanofi SA
 
458,071
45,254,215
Schneider Electric SA
 
218,686
49,863,318
Shell PLC (London)
 
2,607,134
92,680,010
Sims Ltd.
 
70,130
537,496
Stellantis NV (Italy)
 
889,165
19,813,385
Swiss Re Ltd.
 
120,677
13,104,137
Tenaris SA
 
187,656
3,139,177
Titan Cement International Trading SA
 
16,880
535,927
TOTAL UNITED STATES OF AMERICA
 
 
623,366,466
Zambia - 0.0%
 
 
 
First Quantum Minerals Ltd.
 
285,839
3,629,438
 
TOTAL COMMON STOCKS
 (Cost $10,769,430,775)
 
 
 
11,773,768,232
 
 
 
 
Nonconvertible Preferred Stocks - 0.9%
 
 
Shares
Value ($)
 
Brazil - 0.4%
 
 
 
Alpargatas SA (PN) (a)
 
111,600
203,315
Azul SA (a)
 
129,900
243,910
Banco ABC Brasil SA
 
1,764
7,769
Banco ABC Brasil SA Series A
 
56,941
253,858
Banco Bradesco SA (PN)
 
1,963,052
5,292,672
Banco do Estado Rio Grande do Sul SA Class B
 
108,600
263,521
Banco Pan SA
 
157,900
277,935
Bradespar SA (PN)
 
122,156
468,854
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)
 
172,011
1,376,724
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
726,822
1,777,793
Companhia Paranaense de Energia-COPEL (PN-B)
 
435,500
762,372
Gerdau SA
 
559,821
1,968,634
Itau Unibanco Holding SA
 
1,926,560
11,635,197
Itausa-Investimentos Itau SA (PN)
 
2,142,123
3,943,823
Marcopolo SA (PN)
 
339,640
431,042
Metalurgica Gerdau SA (PN)
 
282,200
574,987
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)
 
2,083,386
16,859,354
Randon Participacoes SA (PN)
 
107,400
221,104
Unipar Carbocloro SA
 
30,459
309,658
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.)
 
202,900
309,082
TOTAL BRAZIL
 
 
47,181,604
Chile - 0.0%
 
 
 
Embotelladora Andina SA Class B
 
163,308
461,831
Sociedad Quimica y Minera de Chile SA (PN-B)
 
57,839
2,641,779
TOTAL CHILE
 
 
3,103,610
Colombia - 0.0%
 
 
 
Bancolombia SA (PN)
 
179,187
1,466,200
Germany - 0.3%
 
 
 
Bayerische Motoren Werke AG (BMW) (non-vtg.)
 
29,160
3,003,037
Dr. Ing. h.c. F. Porsche AG Series F (d)
 
45,807
4,078,035
Draegerwerk AG & Co. KGaA (non-vtg.)
 
4,521
239,793
Fuchs Petrolub AG
 
27,997
1,309,271
Henkel AG & Co. KGaA
 
66,130
5,253,483
Jungheinrich AG
 
22,242
827,935
Porsche Automobil Holding SE (Germany)
 
62,132
3,165,719
Sartorius AG (non-vtg.)
 
10,540
3,175,392
Sixt SE Preference Shares
 
4,689
325,267
Sto SE & Co. KGaA
 
1,717
295,380
Volkswagen AG
 
83,092
10,179,193
TOTAL GERMANY
 
 
31,852,505
Italy - 0.0%
 
 
 
Danieli & C. Officine Meccaniche SpA
 
22,450
578,601
Korea (South) - 0.2%
 
 
 
Daishin Securities Co. Ltd.
 
18,377
197,470
Hyundai Motor Co. Ltd.
 
6,122
694,673
Hyundai Motor Co. Ltd. Series 2
 
25,493
2,904,874
LG Chemical Ltd.
 
4,548
870,416
Samsung Electronics Co. Ltd.
 
365,926
17,037,665
TOTAL KOREA (SOUTH)
 
 
21,705,098
Russia - 0.0%
 
 
 
Surgutneftegas OJSC (a)(c)
 
1,961,555
33,981
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $108,435,049)
 
 
 
105,921,599
 
 
 
 
Government Obligations - 0.1%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $11,164,166)
 
11,200,000
11,163,861
 
 
 
 
Money Market Funds - 3.7%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
328,504,527
328,570,228
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
130,519,196
130,532,248
 
TOTAL MONEY MARKET FUNDS
 (Cost $459,102,826)
 
 
459,102,476
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.5%
 (Cost $11,348,132,816)
 
 
 
12,349,956,168
NET OTHER ASSETS (LIABILITIES) - (0.5)%  
(60,419,130)
NET ASSETS - 100.0%
12,289,537,038
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
2,326
Jun 2024
263,710,250
(5,088,545)
(5,088,545)
ICE MSCI Emerging Markets Index Contracts (United States)
2,226
Jun 2024
115,974,600
220,056
220,056
TME S&P/TSX 60 Index Contracts (Canada)
164
Jun 2024
31,104,783
(276,181)
(276,181)
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(5,144,670)
The notional amount of futures purchased as a percentage of Net Assets is 3.3%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Level 3 security
 
(d)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $284,022,231 or 2.3% of net assets.
 
(e)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $11,163,861.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
342,388,114
1,151,375,216
1,165,191,367
6,744,215
(1,385)
(350)
328,570,228
0.7%
Fidelity Securities Lending Cash Central Fund 5.39%
105,473,115
189,071,208
164,012,075
828,841
-
-
130,532,248
0.5%
Total
447,861,229
1,340,446,424
1,329,203,442
7,573,056
(1,385)
(350)
459,102,476
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
589,796,282
135,399,278
453,931,564
465,440
Consumer Discretionary
1,385,612,239
375,274,757
1,010,264,342
73,140
Consumer Staples
864,812,615
260,798,412
604,010,572
3,631
Energy
661,561,870
272,388,166
387,320,200
1,853,504
Financials
2,383,951,402
983,855,512
1,399,905,560
190,330
Health Care
1,059,215,173
183,319,024
875,680,142
216,007
Industrials
1,765,196,432
613,656,759
1,150,754,772
784,901
Information Technology
1,499,157,602
344,821,278
1,154,336,323
1
Materials
964,702,738
411,262,028
552,066,950
1,373,760
Real Estate
343,167,546
120,249,756
222,724,096
193,694
Utilities
362,515,932
130,146,199
232,280,259
89,474
 Government Obligations
11,163,861
-
11,163,861
-
  Money Market Funds
459,102,476
459,102,476
-
-
 Total Investments in Securities:
12,349,956,168
4,290,273,645
8,054,438,641
5,243,882
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
220,056
220,056
-
-
  Total Assets
220,056
220,056
-
-
 Liabilities
 
 
 
 
Futures Contracts
(5,364,726)
(5,364,726)
-
-
  Total Liabilities
(5,364,726)
(5,364,726)
-
-
 Total Derivative Instruments:
(5,144,670)
(5,144,670)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
220,056
(5,364,726)
Total Equity Risk
220,056
(5,364,726)
Total Value of Derivatives
220,056
(5,364,726)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $121,516,240) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $10,889,029,990)
$
11,890,853,692
 
 
Fidelity Central Funds (cost $459,102,826)
459,102,476
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $11,348,132,816)
 
 
$
12,349,956,168
Segregated cash with brokers for derivative instruments
 
 
1,931,660
Foreign currency held at value (cost $36,785,503)
 
 
36,432,258
Receivable for investments sold
 
 
791,540
Receivable for fund shares sold
 
 
10,993,850
Dividends receivable
 
 
39,688,712
Reclaims receivable
 
 
20,689,367
Distributions receivable from Fidelity Central Funds
 
 
1,370,435
Other receivables
 
 
46
  Total assets
 
 
12,461,854,036
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
549,542
 
 
Payable for fund shares redeemed
5,970,727
 
 
Accrued management fee
614,764
 
 
Payable for daily variation margin on futures contracts
5,482,720
 
 
Deferred taxes
29,150,840
 
 
Other payables and accrued expenses
14,833
 
 
Collateral on securities loaned
130,533,572
 
 
  Total liabilities
 
 
 
172,316,998
Net Assets  
 
 
$
12,289,537,038
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
11,610,357,764
Total accumulated earnings (loss)
 
 
 
679,179,274
Net Assets
 
 
$
12,289,537,038
Net Asset Value, offering price and redemption price per share ($12,289,537,038 ÷ 916,255,979 shares)
 
 
$
13.41
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
171,157,250
Interest  
 
 
487,840
Income from Fidelity Central Funds (including $828,841 from security lending)
 
 
7,573,056
 Income before foreign taxes withheld
 
 
$
179,218,146
Less foreign taxes withheld
 
 
(15,632,612)
 Total income
 
 
 
163,585,534
Expenses
 
 
 
 
Management fee
$
3,441,289
 
 
Independent trustees' fees and expenses
16,030
 
 
Interest
15,473
 
 
 Total expenses before reductions
 
3,472,792
 
 
 Expense reductions
 
(62,418)
 
 
 Total expenses after reductions
 
 
 
3,410,374
Net Investment income (loss)
 
 
 
160,175,160
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $1,084,039)
 
(95,510,939)
 
 
   Fidelity Central Funds
 
(1,385)
 
 
 Foreign currency transactions
 
(1,668,670)
 
 
 Futures contracts
 
28,805,492
 
 
Total net realized gain (loss)
 
 
 
(68,375,502)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $15,111,527)  
 
1,538,606,709
 
 
   Fidelity Central Funds
 
(350)
 
 
 Assets and liabilities in foreign currencies
 
(894,503)
 
 
 Futures contracts
 
13,086,406
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
1,550,798,262
Net gain (loss)
 
 
 
1,482,422,760
Net increase (decrease) in net assets resulting from operations
 
 
$
1,642,597,920
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
160,175,160
$
295,393,381
Net realized gain (loss)
 
(68,375,502)
 
 
(102,144,891)
 
Change in net unrealized appreciation (depreciation)
 
1,550,798,262
 
742,480,360
 
Net increase (decrease) in net assets resulting from operations
 
1,642,597,920
 
 
935,728,850
 
Distributions to shareholders
 
(310,344,728)
 
 
(218,213,495)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
2,295,575,343
 
3,690,276,965
  Reinvestment of distributions
 
290,726,537
 
 
204,119,321
 
Cost of shares redeemed
 
(1,473,428,457)
 
(2,786,350,539)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
1,112,873,423
 
 
1,108,045,747
 
Total increase (decrease) in net assets
 
2,445,126,615
 
 
1,825,561,102
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
9,844,410,423
 
8,018,849,321
 
End of period
$
12,289,537,038
$
9,844,410,423
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
174,677,002
 
296,975,955
  Issued in reinvestment of distributions
 
22,695,308
 
 
17,551,102
 
Redeemed
 
(112,139,727)
 
(224,337,969)
Net increase (decrease)
 
85,232,583
 
90,189,088
 
 
 
 
 
 
Financial Highlights
 
Fidelity® Total International Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
11.85
$
10.82
$
14.81
$
11.54
$
12.09
$
11.14
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.18
 
.38
 
.38
 
.35
 
.27
 
.37
     Net realized and unrealized gain (loss)
 
1.75
 
.94
 
(4.00)
 
3.14
 
(.50)
 
.81
  Total from investment operations
 
1.93  
 
1.32  
 
(3.62)  
 
3.49  
 
(.23)
 
1.18
  Distributions from net investment income
 
(.37)
 
(.29)
 
(.37)
 
(.22)
 
(.32)
 
(.23)
     Total distributions
 
(.37)
 
(.29)
 
(.37)
 
(.22)
 
(.32)
 
(.23)
  Net asset value, end of period
$
13.41
$
11.85
$
10.82
$
14.81
$
11.54
$
12.09
 Total Return C,D
 
16.40
%
 
 
12.29%
 
(25.01)%
 
30.47%
 
(1.97)%
 
10.88%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.06% G
 
.06%
 
.06%
 
.06%
 
.06%
 
.06%
    Expenses net of fee waivers, if any
 
.06
% G
 
 
.06%
 
.06%
 
.06%
 
.06%
 
.06%
    Expenses net of all reductions
 
.06% G
 
.06%
 
.06%
 
.06%
 
.06%
 
.06%
    Net investment income (loss)
 
2.79% G
 
3.02%
 
3.04%
 
2.47%
 
2.41%
 
3.25%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
12,289,537
$
9,844,410
$
8,018,849
$
8,557,656
$
4,656,266
$
3,254,707
    Portfolio turnover rate H
 
5
% G
 
 
4% I
 
3% I
 
5%
 
4%
 
4%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAnnualized.
 
HAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
IPortfolio turnover rate excludes securities received or delivered in-kind.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity Total International Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or ETFs but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, ETFs and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes witheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign taxes withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Deferred taxes on the Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), redemptions in-kind, partnerships, capital loss carryforwards and losses deferred due to wash sales.
 
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$2,433,888,413
Gross unrealized depreciation
(1,541,644,201)
Net unrealized appreciation (depreciation)
$892,244,212
Tax cost
$11,452,567,286
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(67,451,012)
 Long-term
(194,591,329)
Total capital loss carryforward
$(262,042,341)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
 
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Total International Index Fund
1,252,362,368
286,602,605
 
Prior Fiscal Year Unaffiliated Redemptions In-Kind. Shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.
 
 
Shares
Total net realized gain or loss ($)
Total Proceeds ($)
Fidelity Total International Index Fund
4,412,954
17,381,109
56,088,646
 
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is based on an annual rate of .06% of the Fund's average net assets. Under the management contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense. 
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:
 
 
 
Borrower or Lender
Average Loan Balance ($)
Weighted Average Interest Rate
Interest Expense ($)
Fidelity Total International Index Fund
 Borrower
 49,876,000
5.58%
 15,473
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Total International Index Fund
87,475
 1,207
282,141
9. Expense Reductions.
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $62,418.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® Total International Index Fund
 
 
 
.06%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,164.00
 
$ .32
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.57
 
$ .30
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9879614.107
TI1-I-SANN-0624
Fidelity® International Sustainability Index Fund
 
 
Semi-Annual Report
April 30, 2024

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
4.4
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
3.1
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
2.6
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
2.2
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
1.8
 
LVMH Moet Hennessy Louis Vuitton SE  (France, Textiles, Apparel & Luxury Goods)
1.7
 
Novartis AG  (Switzerland, Pharmaceuticals)
1.5
 
HSBC Holdings PLC (United Kingdom)  (United Kingdom, Banks)
1.2
 
TotalEnergies SE  (France, Oil, Gas & Consumable Fuels)
1.2
 
Alibaba Group Holding Ltd.  (China, Broadline Retail)
1.2
 
 
20.9
 
 
Market Sectors (% of Fund's net assets)
 
Financials
20.0
 
Information Technology
12.8
 
Industrials
12.7
 
Consumer Discretionary
10.9
 
Health Care
9.7
 
Consumer Staples
7.0
 
Materials
6.9
 
Communication Services
6.7
 
Energy
4.5
 
Utilities
2.9
 
Real Estate
2.3
 
 
Asset Allocation (% of Fund's net assets)
Futures - 3.7%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 95.7%
 
 
Shares
Value ($)
 
Australia - 3.4%
 
 
 
ANZ Group Holdings Ltd.
 
95,216
1,718,071
APA Group unit
 
41,191
219,815
Aristocrat Leisure Ltd.
 
18,252
465,791
ASX Ltd.
 
6,016
245,754
Aurizon Holdings Ltd.
 
56,674
139,206
BlueScope Steel Ltd.
 
13,897
202,833
Brambles Ltd.
 
43,837
412,403
Cochlear Ltd.
 
2,061
429,941
Coles Group Ltd.
 
42,109
439,164
Computershare Ltd.
 
16,973
298,188
DEXUS Property Group unit
 
34,647
157,374
EBOS Group Ltd.
 
4,635
95,514
Endeavour Group Ltd.
 
45,423
156,205
Fortescue Ltd.
 
53,381
884,761
Goodman Group unit
 
53,899
1,088,740
IDP Education Ltd.
 
8,495
88,576
Macquarie Group Ltd.
 
11,570
1,385,375
Mineral Resources Ltd.
 
5,501
249,538
Mirvac Group unit
 
125,411
164,322
Northern Star Resources Ltd.
 
36,099
342,173
Orica Ltd.
 
15,633
181,010
Pilbara Minerals Ltd.
 
91,750
233,587
QBE Insurance Group Ltd.
 
47,217
540,114
Ramsay Health Care Ltd.
 
5,878
197,032
REA Group Ltd.
 
1,683
192,919
Scentre Group unit
 
160,046
324,101
SEEK Ltd.
 
11,339
175,163
Sonic Healthcare Ltd.
 
14,109
242,473
Stockland Corp. Ltd. unit
 
75,932
215,124
Suncorp Group Ltd.
 
40,008
427,302
Telstra Group Ltd.
 
126,819
299,624
The GPT Group
 
61,992
166,723
Transurban Group unit
 
96,878
777,781
Vicinity Centres unit
 
125,652
153,870
Woodside Energy Group Ltd.
 
59,943
1,073,999
TOTAL AUSTRALIA
 
 
14,384,566
Austria - 0.2%
 
 
 
Mondi PLC
 
13,815
262,218
Mondi PLC
 
10
191
OMV AG
 
4,575
218,147
Verbund AG
 
2,161
165,125
TOTAL AUSTRIA
 
 
645,681
Belgium - 0.2%
 
 
 
KBC Group NV
 
7,893
588,796
Umicore SA
 
6,781
150,957
TOTAL BELGIUM
 
 
739,753
Brazil - 0.9%
 
 
 
Atacadao SA
 
19,400
41,732
Banco Santander SA (Brasil) unit
 
11,500
64,005
CCR SA
 
33,500
79,547
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
 
10,900
169,653
Companhia Siderurgica Nacional SA (CSN)
 
21,400
57,368
Cosan SA
 
39,244
109,586
Energisa SA unit
 
8,300
72,089
Equatorial Energia SA
 
33,215
195,672
Hapvida Participacoes e Investimentos SA (a)(b)
 
157,400
111,853
Klabin SA unit
 
24,300
107,821
Localiza Rent a Car SA
 
27,673
261,296
Lojas Renner SA
 
31,965
94,370
Magazine Luiza SA (a)
 
109,642
28,716
Natura & Co. Holding SA
 
29,613
94,612
PRIO SA
 
24,800
229,249
Raia Drogasil SA
 
40,980
201,877
Rede D'Oregon Sao Luiz SA (b)
 
19,002
95,145
Rumo SA
 
42,000
163,063
Telefonica Brasil SA
 
13,300
121,254
TIM SA
 
27,800
94,280
Totvs SA
 
17,900
94,936
Ultrapar Participacoes SA
 
23,400
116,491
Weg SA
 
51,980
395,911
Wheaton Precious Metals Corp.
 
14,234
741,556
TOTAL BRAZIL
 
 
3,742,082
Burkina Faso - 0.0%
 
 
 
Endeavour Mining PLC
 
5,932
126,232
Canada - 7.0%
 
 
 
Agnico Eagle Mines Ltd. (Canada)
 
15,624
989,431
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
24,263
1,344,762
Bank of Montreal
 
22,798
2,036,444
Bank of Nova Scotia
 
38,379
1,760,809
Brookfield Corp. (Canada) Class A
 
43,862
1,759,387
CAE, Inc. (a)
 
10,278
198,296
Cameco Corp.
 
13,670
623,697
Canadian Apartment Properties (REIT) unit
 
2,738
85,224
Canadian National Railway Co.
 
17,256
2,094,436
Canadian Tire Ltd. Class A (non-vtg.)
 
1,661
160,459
Dollarama, Inc.
 
8,849
738,183
Enbridge, Inc.
 
67,139
2,387,284
FirstService Corp.
 
1,294
190,061
Fortis, Inc.
 
15,268
599,563
Gildan Activewear, Inc.
 
4,953
171,690
Hydro One Ltd. (b)
 
10,281
287,971
Intact Financial Corp.
 
5,618
923,390
Ivanhoe Mines Ltd. (a)
 
20,451
277,206
Keyera Corp.
 
7,397
189,781
Kinross Gold Corp.
 
39,587
255,354
Magna International, Inc. Class A (sub. vtg.)
 
8,532
407,806
Metro, Inc.
 
7,138
365,131
National Bank of Canada
 
10,694
858,689
Nutrien Ltd.
 
15,582
821,630
Open Text Corp.
 
8,451
298,408
Parkland Corp.
 
4,531
139,585
Pembina Pipeline Corp.
 
18,309
644,236
RB Global, Inc.
 
5,747
411,370
RioCan (REIT)
 
5,003
63,380
Rogers Communications, Inc. Class B (non-vtg.)
 
11,194
419,333
Shopify, Inc. Class A (a)
 
38,086
2,673,891
Sun Life Financial, Inc.
 
18,461
942,595
TELUS Corp.
 
15,198
244,091
The Toronto-Dominion Bank
 
56,070
3,326,362
Thomson Reuters Corp.
 
5,013
757,166
Toromont Industries Ltd.
 
2,654
242,911
West Fraser Timber Co. Ltd.
 
1,811
138,708
TOTAL CANADA
 
 
29,828,720
Chile - 0.2%
 
 
 
Antofagasta PLC
 
12,390
342,151
Cencosud SA
 
42,754
73,261
Empresas CMPC SA
 
34,584
68,300
Empresas COPEC SA
 
12,924
92,227
Enel Americas SA
 
715,204
67,047
Falabella SA (a)
 
26,959
72,168
Lundin Mining Corp.
 
20,584
235,049
TOTAL CHILE
 
 
950,203
China - 8.2%
 
 
 
37 Interactive Entertainment Network Technology Group Co. Ltd. (A Shares)
 
4,100
9,418
AAC Technology Holdings, Inc.
 
22,000
70,018
Agricultural Bank of China Ltd.:
 
 
 
 (A Shares)
 
157,600
95,663
 (H Shares)
 
873,000
389,280
Aier Eye Hospital Group Co. Ltd. (A Shares)
 
19,300
34,279
Air China Ltd.:
 
 
 
 (A Shares) (a)
 
21,400
21,762
 (H Shares) (a)
 
62,000
31,084
Airtac International Group
 
4,000
141,372
Alibaba Group Holding Ltd.
 
514,100
4,813,552
Alibaba Health Information Technology Ltd. (a)
 
182,000
67,937
Angel Yeast Co. Ltd. (A Shares)
 
1,600
6,569
Anhui Conch Cement Co. Ltd.:
 
 
 
 (A Shares)
 
7,400
23,440
 (H Shares)
 
41,000
95,123
Anjoy Foods Group Co. Ltd. (A Shares)
 
500
6,349
Asymchem Laboratories Tianjin Co. Ltd. (A Shares)
 
800
9,103
Baidu, Inc. Class A (a)
 
71,062
920,650
Beijing Enterprises Water Group Ltd.
 
124,000
31,274
Beijing Tongrentang Co. Ltd. (A Shares)
 
2,500
14,579
BOC Aviation Ltd. Class A (b)
 
6,400
50,904
BOC Hong Kong (Holdings) Ltd.
 
113,500
347,888
Bosideng International Holdings Ltd.
 
118,000
68,306
By-Health Co. Ltd. (A Shares)
 
3,100
6,762
BYD Co. Ltd.:
 
 
 
 (A Shares)
 
3,300
99,078
 (H Shares)
 
33,000
904,615
CECEP Solar Energy Co. Ltd. (A Shares)
 
7,200
5,121
China Baoan Group Co. Ltd. (A Shares)
 
4,800
6,952
China Construction Bank Corp.:
 
 
 
 (A Shares)
 
200
196
 (H Shares)
 
3,030,000
1,960,383
China Eastern Airlines Corp. Ltd. (A Shares) (a)
 
31,200
16,507
China Feihe Ltd. (b)
 
122,000
66,718
China Jushi Co. Ltd. (A Shares)
 
7,357
12,093
China Literature Ltd. (a)(b)
 
12,600
45,008
China Medical System Holdings Ltd.
 
45,000
40,178
China Mengniu Dairy Co. Ltd.
 
97,000
200,933
China Merchants Bank Co. Ltd.:
 
 
 
 (A Shares)
 
42,500
200,532
 (H Shares)
 
118,500
513,207
China Merchants Holdings International Co. Ltd.
 
40,000
52,825
China National Medicines Corp. Ltd. (A Shares)
 
1,900
9,105
China Overseas Land and Investment Ltd.
 
122,000
224,343
China Resource Gas Group Ltd.
 
30,700
96,489
China Resources Land Ltd.
 
100,000
359,584
China Resources Pharmaceutical Group Ltd. (b)
 
48,500
31,363
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares)
 
1,800
14,895
China Ruyi Holdings Ltd. (a)
 
172,000
43,081
China Southern Airlines Ltd. (A Shares) (a)
 
20,200
15,779
China Three Gorges Renewables Group Co. Ltd. (A Shares)
 
52,700
34,078
China Tourism Group Duty Free Corp. Ltd.:
 
 
 
 (A Shares)
 
3,600
36,938
 (H Shares) (b)
 
3,800
33,463
China Vanke Co. Ltd.:
 
 
 
 (A Shares)
 
17,800
18,119
 (H Shares)
 
72,500
42,520
China Yangtze Power Co. Ltd. (A Shares)
 
49,400
175,765
Chongqing Zhifei Biological Products Co. Ltd. (A Shares)
 
4,800
23,184
Chow Tai Fook Jewellery Group Ltd.
 
64,800
88,170
CITIC Pacific Ltd.
 
186,000
176,031
Cmoc Group Ltd.:
 
 
 
 (A Shares)
 
32,500
39,962
 (H Shares)
 
117,000
109,771
CNGR Advanced Material Co. Ltd.
 
1,200
8,659
Contemporary Amperex Technology Co. Ltd.
 
8,640
241,662
Country Garden Services Holdings Co. Ltd.
 
72,000
48,034
CSPC Innovation Pharmaceutical Co. Ltd. (A Shares)
 
2,760
13,057
CSPC Pharmaceutical Group Ltd.
 
285,280
234,253
East Buy Holding Ltd. (a)(b)
 
14,500
30,656
Ecovacs Robotics Co. Ltd. Class A
 
1,100
7,499
ENN Energy Holdings Ltd.
 
25,600
218,122
ENN Natural Gas Co. Ltd. (A Shares)
 
4,800
11,959
Far East Horizon Ltd.
 
63,000
46,765
Fosun International Ltd.
 
75,500
44,544
Ganfeng Lithium Group Co. Ltd.:
 
 
 
 (A Shares)
 
3,020
14,642
 (H Shares) (b)
 
13,840
40,586
Geely Automobile Holdings Ltd.
 
194,000
233,490
GEM Co. Ltd. (A Shares)
 
9,500
9,107
Genscript Biotech Corp. (a)
 
38,000
56,037
Goldwind Science & Technology Co. Ltd.:
 
 
 
 (A Shares)
 
6,400
6,719
 (H Shares)
 
18
7
GoodWe Technologies Co. Ltd. (A Shares)
 
282
3,606
Guangzhou Baiyunshan Pharma Health (A Shares)
 
2,600
11,487
Guangzhou Kingmed Diagnostics Group Co. Ltd. (A Shares)
 
900
4,755
Haier Smart Home Co. Ltd.
 
75,800
280,765
Haier Smart Home Co. Ltd. (A Shares)
 
11,600
48,260
Haitian International Holdings Ltd.
 
20,000
65,137
Hangzhou Robam Appliances Co. Ltd. (A Shares)
 
1,800
5,864
Hangzhou Tigermed Consulting Co. Ltd. (A Shares)
 
700
5,686
Hansoh Pharmaceutical Group Co. Ltd. (b)
 
40,000
88,388
Henan Shuanghui Investment & Development Co. Ltd. (A Shares)
 
6,400
23,798
Hoymiles Power Electronics, Inc. (A Shares)
 
239
7,463
Huadong Medicine Co. Ltd. (A Shares)
 
3,200
14,536
Huatai Securities Co. Ltd.:
 
 
 
 (A Shares)
 
13,500
25,531
 (H Shares) (b)
 
42,800
50,616
Hygeia Healthcare Holdings Co. (b)
 
11,200
46,227
IMEIK Technology Development Co. Ltd. (A Shares)
 
560
16,565
Industrial & Commercial Bank of China Ltd.:
 
 
 
 (A Shares)
 
116,600
87,340
 (H Shares)
 
2,056,000
1,102,486
Inner Mongoli Yili Industries Co. Ltd. (A Shares)
 
11,700
46,108
Innovent Biologics, Inc. (a)(b)
 
39,000
188,798
JD Logistics, Inc. (a)(b)
 
66,300
71,758
JD.com, Inc. Class A
 
73,850
1,064,058
Jiangsu Eastern Shenghong Co. Ltd.
 
12,200
16,673
Jiangsu Expressway Co. Ltd. (H Shares)
 
38,000
37,267
Jiangsu Hengrui Medicine Co. Ltd. (A Shares)
 
11,800
74,934
Jiangsu Zhongtian Technology Co. Ltd. (A Shares)
 
6,300
11,755
Joincare Pharmaceutical Group Industry Co. Ltd. (A Shares)
 
3,500
5,864
Juneyao Airlines Co. Ltd. (A shares) (a)
 
5,800
9,834
Kanzhun Ltd. ADR
 
7,087
140,252
Kingdee International Software Group Co. Ltd. (a)
 
91,000
96,007
Kuaishou Technology Class B (a)(b)
 
73,600
515,988
Kuang-Chi Technologies Co. Ltd. (A Shares) (a)
 
4,000
10,777
Kunlun Energy Co. Ltd.
 
128,000
124,081
Lenovo Group Ltd.
 
252,000
283,439
Lepu Medical Technology Beijing Co. Ltd. (A Shares)
 
4,200
8,487
Li Auto, Inc. Class A (a)
 
36,230
474,682
Livzon Pharmaceutical Group, Inc. (A Shares)
 
1,200
6,637
Longfor Properties Co. Ltd. (b)
 
62,471
92,529
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) (a)
 
9,900
6,038
Ming Yang Smart Energy Group Ltd. (A Shares)
 
4,200
5,657
MINISO Group Holding Ltd.
 
12,432
70,130
NetEase, Inc.
 
61,100
1,145,298
NIO, Inc. sponsored ADR (a)
 
43,719
206,354
Nongfu Spring Co. Ltd. (H Shares) (b)
 
62,800
368,945
Offshore Oil Enginering Co. Ltd. (A Shares)
 
8,100
7,098
Perfect World Co. Ltd. (A Shares)
 
3,600
4,957
Pharmaron Beijing Co. Ltd. (A Shares)
 
2,750
7,447
Pop Mart International Group Ltd. (b)
 
14,600
62,480
Postal Savings Bank of China Co. Ltd.
 
54,000
35,737
Postal Savings Bank of China Co. Ltd. (H Shares) (b)
 
259,000
134,202
Prosus NV
 
46,205
1,546,017
Sany Heavy Equipment International Holdings Co. Ltd.
 
36,000
25,297
SF Holding Co. Ltd. (A Shares)
 
9,000
44,894
Shandong Nanshan Aluminum Co. Ltd. (A Shares)
 
21,600
10,644
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)
 
82,800
56,151
Shanghai Electric Group Co. Ltd. (A Shares) (a)
 
23,300
13,830
Shanghai Fosun Pharmaceutical (Group) Co. Ltd.:
 
 
 
 (A Shares)
 
4,100
13,385
 (H Shares)
 
16,500
25,903
Shanghai M&G Stationery, Inc. (A Shares)
 
1,700
8,281
Shanghai Pharmaceuticals Holding Co. Ltd.:
 
 
 
 (A Shares)
 
5,200
12,855
 (H Shares)
 
22,400
31,832
Shanghai Putailai New Energy Technology Co. Ltd.
 
3,685
9,373
Shanghai Yuyuan Tourist Mart Group Co. Ltd.
 
7,200
5,884
Shenzhen Inovance Technology Co. Ltd. (A Shares)
 
2,500
20,502
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)
 
2,400
100,776
Shenzhen New Industries Biomedical Engineering Co. Ltd.
 
1,700
16,570
Shijiazhuang Yiling Pharmaceutical Co. Ltd. (A Shares)
 
4,100
10,638
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares)
 
3,500
16,389
Sinoma Science & Technology Co. Ltd. (A Shares)
 
3,100
6,630
Sinopharm Group Co. Ltd. (H Shares)
 
43,200
109,096
Sinotruk Hong Kong Ltd.
 
22,500
55,996
SKSHU Paint Co. Ltd. (A Shares)
 
968
4,531
Sungrow Power Supply Co. Ltd. (A Shares)
 
2,700
38,345
Sunwoda Electronic Co. Ltd. (A Shares)
 
3,400
7,118
TCL Technology Group Corp. (A Shares)
 
34,600
22,747
Tencent Holdings Ltd.
 
209,000
9,171,589
Tianqi Lithium Corp. (A Shares)
 
2,700
14,643
Tongcheng Travel Holdings Ltd.
 
37,600
98,959
Topchoice Medical Corp. (a)
 
600
5,024
Vipshop Holdings Ltd. ADR
 
11,125
167,320
Want Want China Holdings Ltd.
 
141,000
80,420
Weichai Power Co. Ltd.:
 
 
 
 (A Shares)
 
12,600
30,229
 (H Shares)
 
62,000
126,689
Western Mining Co. Ltd. (A Shares)
 
4,400
12,133
WuXi AppTec Co. Ltd.
 
4,776
28,700
WuXi AppTec Co. Ltd. (H Shares) (b)
 
11,480
51,673
Wuxi Biologics (Cayman), Inc. (a)(b)
 
120,000
207,880
XPeng, Inc. Class A (a)
 
37,316
151,285
Yadea Group Holdings Ltd. (b)
 
40,000
76,947
Yihai Kerry Arawana Holdings Co. Ltd. (A Shares)
 
2,700
11,675
Yum China Holdings, Inc.
 
12,762
465,941
Yunnan Baiyao Group Co. Ltd. (A Shares)
 
3,320
26,195
Yunnan Chihong Zinc & Germanium Co. Ltd. (A Shares) (a)
 
9,400
7,411
Yunnan Energy New Material Co. Ltd.
 
1,800
10,319
Zai Lab Ltd. (a)
 
28,700
46,130
Zai Lab Ltd. ADR (a)
 
1
16
Zangge Mining Co. Ltd. (Series A)
 
2,900
11,492
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares)
 
1,100
36,009
Zhejiang Chint Electric Co. Ltd. (A Shares)
 
4,000
11,378
Zhejiang Expressway Co. Ltd. (H Shares)
 
50,440
32,979
Zhejiang Huahai Pharmaceutical Co. Ltd. (A Shares)
 
4,200
9,708
Zhejiang Weixing New Building Materials Co. Ltd. (A Shares)
 
2,900
7,021
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares)
 
13,000
15,237
ZTO Express, Inc. sponsored ADR
 
13,227
277,635
TOTAL CHINA
 
 
34,847,198
Colombia - 0.0%
 
 
 
Bancolombia SA
 
8,796
75,785
Interconexion Electrica SA ESP
 
13,619
62,836
TOTAL COLOMBIA
 
 
138,621
Czech Republic - 0.0%
 
 
 
Komercni Banka A/S
 
2,464
90,900
MONETA Money Bank A/S (b)
 
10,865
43,839
TOTAL CZECH REPUBLIC
 
 
134,739
Denmark - 4.2%
 
 
 
A.P. Moller - Maersk A/S:
 
 
 
 Series A
 
97
138,236
 Series B
 
127
185,169
Coloplast A/S Series B
 
3,978
479,608
DSV A/S
 
5,538
790,656
Genmab A/S (a)
 
2,078
576,915
Novo Nordisk A/S Series B
 
103,127
13,225,245
Novonesis (NOVOZYMES) B Series B
 
11,780
654,997
ORSTED A/S (a)(b)
 
5,959
328,862
Pandora A/S
 
2,669
408,433
Rockwool International A/S Series B
 
301
98,885
Svitzer A/S
 
448
15,054
Vestas Wind Systems A/S (a)
 
31,849
858,555
TOTAL DENMARK
 
 
17,760,615
Egypt - 0.0%
 
 
 
Commercial International Bank SAE
 
80,811
121,428
Commercial International Bank SAE GDR
 
4
6
TOTAL EGYPT
 
 
121,434
Finland - 0.6%
 
 
 
Elisa Corp. (A Shares)
 
4,530
204,592
Kesko Oyj
 
8,664
148,217
Metso Corp.
 
20,838
237,394
Neste OYJ
 
13,316
303,259
Nokia Corp.
 
168,144
611,263
Stora Enso Oyj (R Shares)
 
18,184
243,545
UPM-Kymmene Corp.
 
16,820
590,924
Wartsila Corp.
 
14,874
275,565
TOTAL FINLAND
 
 
2,614,759
France - 7.0%
 
 
 
Aeroports de Paris SA
 
1,054
134,417
AXA SA
 
57,522
1,991,410
BNP Paribas SA
 
32,639
2,348,763
Bouygues SA
 
6,007
221,873
Carrefour SA
 
17,744
298,511
Compagnie Generale des Etablissements Michelin SCA Series B
 
21,436
823,542
Credit Agricole SA
 
33,966
525,564
Danone SA
 
20,350
1,273,652
Dassault Systemes SA
 
21,105
828,412
Eiffage SA
 
2,304
246,621
Gecina SA
 
1,499
153,574
Getlink SE
 
11,555
197,304
Hermes International SCA
 
1,001
2,404,669
Kering SA
 
2,347
826,557
Klepierre SA
 
6,851
184,686
L'Oreal SA
 
7,603
3,567,286
LVMH Moet Hennessy Louis Vuitton SE
 
8,726
7,167,853
Orange SA
 
58,568
651,878
Societe Generale Series A
 
22,762
613,323
Teleperformance
 
1,842
168,035
TotalEnergies SE
 
68,616
4,981,434
Worldline SA (a)(b)
 
7,610
79,622
TOTAL FRANCE
 
 
29,688,986
Germany - 2.8%
 
 
 
adidas AG
 
5,112
1,235,131
Bayerische Motoren Werke AG (BMW)
 
10,042
1,097,938
Beiersdorf AG
 
3,170
475,484
Brenntag SE
 
4,150
331,546
Commerzbank AG
 
33,242
495,243
Covestro AG (a)(b)
 
5,930
297,313
Deutsche Borse AG
 
6,010
1,158,680
Deutsche Lufthansa AG
 
19,392
138,947
DHL Group
 
31,310
1,310,948
Evonik Industries AG
 
7,143
148,992
GEA Group AG
 
5,295
214,166
HeidelbergCement AG
 
4,104
414,503
Henkel AG & Co. KGaA
 
3,259
234,350
Knorr-Bremse AG
 
2,345
174,012
LEG Immobilien AG
 
2,373
202,395
Merck KGaA
 
4,077
648,078
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
4,318
1,899,488
Puma AG
 
3,341
154,257
Symrise AG
 
4,190
450,287
Vonovia SE
 
23,078
666,862
Zalando SE (a)(b)
 
7,091
185,538
TOTAL GERMANY
 
 
11,934,158
Greece - 0.1%
 
 
 
Alpha Bank SA (a)
 
71,329
121,225
Eurobank Ergasias Services and Holdings SA (a)
 
82,484
176,934
Hellenic Telecommunications Organization SA
 
6,166
93,967
Motor Oil (HELLAS) Corinth Refineries SA
 
2,043
59,217
Mytilineos SA
 
3,294
134,287
TOTAL GREECE
 
 
585,630
Hong Kong - 1.2%
 
 
 
AIA Group Ltd.
 
358,400
2,625,050
CK Infrastructure Holdings Ltd.
 
20,500
115,807
Hang Seng Bank Ltd.
 
23,600
311,203
HKT Trust/HKT Ltd. unit
 
123,000
135,789
Hong Kong & China Gas Co. Ltd.
 
345,356
262,592
MTR Corp. Ltd.
 
49,656
163,191
Orient Overseas International Ltd.
 
4,000
58,340
Prudential PLC
 
86,606
753,243
Sino Biopharmaceutical Ltd.
 
330,750
113,017
Sino Land Ltd.
 
124,278
132,878
Swire Pacific Ltd. (A Shares)
 
14,000
118,562
Swire Properties Ltd.
 
39,400
81,486
WH Group Ltd. (b)
 
270,500
196,610
TOTAL HONG KONG
 
 
5,067,768
Hungary - 0.1%
 
 
 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
14,502
119,012
OTP Bank PLC
 
7,074
351,021
Richter Gedeon PLC
 
4,235
107,844
TOTAL HUNGARY
 
 
577,877
India - 4.7%
 
 
 
ABB India Ltd.
 
1,649
129,085
Adani Green Energy Ltd. (a)
 
9,979
214,374
Ashok Leyland Ltd.
 
48,752
112,240
Asian Paints Ltd.
 
12,028
413,621
Astral Ltd.
 
4,317
109,229
AU Small Finance Bank Ltd. (b)
 
5,111
38,713
Axis Bank Ltd.
 
71,926
1,003,664
Bajaj Finance Ltd.
 
8,766
726,952
Berger Paints India Ltd.
 
8,952
54,515
Bharti Airtel Ltd.
 
70,940
1,122,568
Britannia Industries Ltd.
 
3,496
199,758
Cipla Ltd./India (a)
 
16,373
274,011
Colgate-Palmolive Ltd.
 
4,422
149,605
Cummins India Ltd.
 
4,473
175,086
Dabur India Ltd.
 
19,897
120,902
DLF Ltd.
 
23,088
245,924
Eicher Motors Ltd.
 
4,352
239,525
GAIL India Ltd.
 
74,214
185,343
GMR Airports Infrastructure Ltd. (a)
 
77,808
79,115
Grasim Industries Ltd.
 
8,387
241,755
Havells India Ltd.
 
8,076
160,687
HCL Technologies Ltd.
 
29,755
485,315
Hero Motocorp Ltd.
 
3,709
201,238
Hindalco Industries Ltd.
 
42,138
323,982
Hindustan Unilever Ltd.
 
25,800
688,848
ICICI Prudential Life Insurance Co. Ltd. (b)
 
11,881
81,312
Indraprastha Gas Ltd.
 
9,674
54,259
Info Edge India Ltd.
 
2,213
160,007
Infosys Ltd.
 
104,757
1,768,269
InterGlobe Aviation Ltd. (a)(b)
 
5,488
261,615
Kotak Mahindra Bank Ltd.
 
34,432
669,009
Lupin Ltd.
 
7,322
144,129
Mahindra & Mahindra Ltd.
 
29,274
754,876
Marico Ltd.
 
16,687
103,526
Max Healthcare Institute Ltd.
 
24,370
244,823
Nestle India Ltd.
 
10,544
316,415
PI Industries Ltd.
 
2,692
117,621
Pidilite Industries Ltd.
 
4,720
172,110
Power Grid Corp. of India Ltd.
 
145,888
526,036
Reliance Industries Ltd.
 
96,157
3,374,561
Shree Cement Ltd.
 
300
87,806
Shriram Finance Ltd.
 
8,791
268,138
Siemens Ltd.
 
2,869
200,396
Supreme Industries Ltd.
 
2,082
126,060
Suzlon Energy Ltd. (a)
 
284,799
141,088
Tata Consultancy Services Ltd.
 
28,533
1,301,879
The Indian Hotels Co. Ltd.
 
27,494
189,405
Torrent Pharmaceuticals Ltd.
 
3,058
96,573
Tvs Motor Co. Ltd.
 
7,691
189,317
UPL Ltd.
 
14,513
88,055
Vedanta Ltd.
 
30,584
145,926
Zomato Ltd. (a)
 
191,973
442,934
TOTAL INDIA
 
 
19,722,200
Indonesia - 0.5%
 
 
 
PT Aneka Tambang Tbk
 
258,300
25,964
PT Bank Central Asia Tbk
 
1,749,300
1,051,827
PT Bank Rakyat Indonesia (Persero) Tbk
 
2,147,400
650,026
PT Barito Pacific Tbk
 
926,068
57,872
PT Kalbe Farma Tbk
 
699,100
62,057
PT Merdeka Copper Gold Tbk (a)
 
316,518
50,977
PT Sarana Menara Nusantara Tbk
 
624,600
30,860
PT Telkom Indonesia Persero Tbk
 
1,545,600
299,628
PT Unilever Indonesia Tbk
 
234,500
37,766
TOTAL INDONESIA
 
 
2,266,977
Ireland - 0.3%
 
 
 
Kerry Group PLC Class A
 
4,960
427,700
Kingspan Group PLC (Ireland)
 
4,918
440,086
Smurfit Kappa Group PLC
 
8,196
356,431
TOTAL IRELAND
 
 
1,224,217
Israel - 0.1%
 
 
 
Bank Leumi le-Israel BM
 
47,837
374,601
Italy - 1.1%
 
 
 
Assicurazioni Generali SpA
 
32,282
788,936
Coca-Cola HBC AG
 
7,021
227,223
Enel SpA
 
257,352
1,691,430
FinecoBank SpA
 
19,198
295,848
Mediobanca SpA
 
16,448
234,337
Moncler SpA
 
6,491
444,172
Nexi SpA (a)(b)
 
18,907
110,533
Poste Italiane SpA (b)
 
14,771
187,902
Prysmian SpA
 
8,240
450,063
Terna - Rete Elettrica Nazionale
 
44,011
353,391
TOTAL ITALY
 
 
4,783,835
Japan - 15.5%
 
 
 
Advantest Corp.
 
24,200
757,476
AEON Co. Ltd.
 
20,600
430,711
Ajinomoto Co., Inc.
 
14,800
550,286
Ana Holdings, Inc.
 
5,200
98,758
Asahi Kasei Corp.
 
39,300
274,005
Astellas Pharma, Inc.
 
56,800
545,161
Azbil Corp.
 
3,900
108,927
Bandai Namco Holdings, Inc.
 
18,800
351,281
Bridgestone Corp.
 
18,000
794,286
Brother Industries Ltd.
 
7,400
130,898
Dai Nippon Printing Co. Ltd.
 
6,600
192,232
Daifuku Co. Ltd.
 
9,800
200,741
Daiichi Sankyo Kabushiki Kaisha
 
58,400
1,965,610
Daikin Industries Ltd.
 
8,300
1,132,878
Daiwa House Industry Co. Ltd.
 
18,600
523,384
Daiwa Securities Group, Inc.
 
41,900
307,926
DENSO Corp.
 
59,700
1,017,474
Eisai Co. Ltd.
 
7,900
324,446
FANUC Corp.
 
30,000
888,579
Fast Retailing Co. Ltd.
 
5,500
1,438,080
Fuji Electric Co. Ltd.
 
4,000
248,816
FUJIFILM Holdings Corp.
 
35,400
753,046
Fujitsu Ltd.
 
55,600
858,917
Hankyu Hanshin Holdings, Inc.
 
7,100
186,149
Hirose Electric Co. Ltd.
 
900
95,531
Hitachi Construction Machinery Co. Ltd.
 
3,500
99,968
Hitachi Ltd.
 
29,300
2,703,238
Hoya Corp.
 
11,100
1,286,932
Hulic Co. Ltd.
 
12,400
114,262
Ibiden Co. Ltd.
 
3,600
136,849
INPEX Corp.
 
30,600
458,382
Isuzu Motors Ltd.
 
18,600
235,715
Itochu Corp.
 
37,600
1,696,315
JFE Holdings, Inc.
 
18,100
270,156
Kao Corp.
 
14,600
602,283
KDDI Corp.
 
47,200
1,309,743
Kikkoman Corp.
 
21,300
253,798
Koito Manufacturing Co. Ltd.
 
6,500
87,430
Komatsu Ltd.
 
29,200
871,800
Kubota Corp.
 
31,400
503,648
Kyowa Hakko Kirin Co., Ltd.
 
8,700
146,107
LY Corp.
 
86,300
207,347
Marubeni Corp.
 
45,200
805,300
MatsukiyoCocokara & Co.
 
11,100
157,406
Mazda Motor Corp.
 
18,100
204,883
McDonald's Holdings Co. (Japan) Ltd.
 
2,800
123,168
Meiji Holdings Co. Ltd.
 
7,600
170,045
Mitsubishi Chemical Holdings Corp.
 
40,200
234,521
Mitsubishi Estate Co. Ltd.
 
35,400
648,695
Mitsui Chemicals, Inc.
 
5,300
150,853
Mitsui Fudosan Co. Ltd.
 
84,200
856,909
Mizuho Financial Group, Inc.
 
76,200
1,472,878
MS&AD Insurance Group Holdings, Inc.
 
40,600
729,949
NEC Corp.
 
7,700
557,495
Nintendo Co. Ltd.
 
32,790
1,599,136
Nippon Express Holdings, Inc.
 
2,300
117,664
Nippon Paint Holdings Co. Ltd.
 
30,600
195,871
Nippon Prologis REIT, Inc.
 
73
125,969
Nissin Food Holdings Co. Ltd.
 
6,500
173,456
Nitori Holdings Co. Ltd.
 
2,500
334,583
Nitto Denko Corp.
 
4,500
372,086
Nomura Holdings, Inc.
 
94,700
538,842
Nomura Real Estate Holdings, Inc.
 
3,600
100,790
Nomura Research Institute Ltd.
 
12,100
292,795
NTT Data Corp.
 
19,800
309,629
OMRON Corp.
 
5,500
188,773
Ono Pharmaceutical Co. Ltd.
 
11,700
168,519
Oriental Land Co. Ltd.
 
34,400
949,156
ORIX Corp.
 
37,000
757,220
Osaka Gas Co. Ltd.
 
11,800
262,383
Pan Pacific International Holdings Ltd.
 
12,000
281,832
Panasonic Holdings Corp.
 
69,700
608,373
Rakuten Group, Inc. (a)
 
47,100
226,525
Recruit Holdings Co. Ltd.
 
45,600
1,963,872
Renesas Electronics Corp.
 
46,400
753,339
Ricoh Co. Ltd.
 
17,400
150,111
SCSK Corp.
 
5,200
94,532
Secom Co. Ltd.
 
6,600
458,453
Seiko Epson Corp.
 
9,300
152,985
Sekisui Chemical Co. Ltd.
 
12,200
177,486
Sekisui House Ltd.
 
18,700
429,733
Seven & i Holdings Co. Ltd.
 
71,400
922,574
SG Holdings Co. Ltd.
 
10,300
120,562
Sharp Corp. (a)
 
8,000
41,993
Shimadzu Corp.
 
7,600
206,477
SHIMIZU Corp.
 
17,100
105,925
Shin-Etsu Chemical Co. Ltd.
 
56,900
2,202,539
Shionogi & Co. Ltd.
 
7,700
359,596
SoftBank Corp.
 
91,000
1,097,613
Sompo Holdings, Inc.
 
28,100
556,103
Sony Group Corp.
 
39,800
3,289,525
Subaru Corp.
 
18,900
422,018
Sumitomo Electric Industries Ltd.
 
22,500
347,767
Sumitomo Metal Mining Co. Ltd.
 
7,900
263,928
Sumitomo Mitsui Financial Group, Inc.
 
40,200
2,283,513
Sumitomo Mitsui Trust Holdings, Inc.
 
20,600
433,112
Suntory Beverage & Food Ltd.
 
4,500
146,409
Sysmex Corp.
 
15,800
252,648
T&D Holdings, Inc.
 
15,300
249,655
TDK Corp.
 
12,300
548,715
Terumo Corp.
 
42,500
720,976
TIS, Inc.
 
7,000
149,496
Tobu Railway Co. Ltd.
 
6,100
121,027
Tokio Marine Holdings, Inc.
 
56,900
1,798,404
Tokyo Electron Ltd.
 
14,900
3,268,254
Tokyo Gas Co. Ltd.
 
11,800
264,642
Tokyu Corp.
 
15,900
188,217
Toray Industries, Inc.
 
43,100
196,998
Toto Ltd.
 
4,600
124,497
Unicharm Corp.
 
12,700
377,357
USS Co. Ltd.
 
13,200
100,839
West Japan Railway Co.
 
13,700
260,046
Yamaha Corp.
 
4,300
90,615
Yamaha Motor Co. Ltd.
 
28,500
265,826
Yamato Holdings Co. Ltd.
 
8,100
106,974
Yaskawa Electric Corp.
 
7,500
309,020
Yokogawa Electric Corp.
 
7,300
161,299
ZOZO, Inc.
 
4,400
94,769
TOTAL JAPAN
 
 
65,505,714
Korea (South) - 1.7%
 
 
 
AMOREPACIFIC Corp.
 
973
118,262
CJ CheilJedang Corp.
 
255
61,636
Coway Co. Ltd.
 
1,795
71,718
Doosan Bobcat, Inc.
 
1,695
63,173
Doosan Heavy Industries & Construction Co. Ltd. (a)
 
14,495
174,528
Hana Financial Group, Inc.
 
9,158
385,174
Hanon Systems
 
5,752
22,971
Hanwha Solutions Corp.
 
3,614
65,591
HD Hyundai Co. Ltd.
 
1,410
68,071
HMM Co. Ltd.
 
7,754
88,281
Hyundai Engineering & Construction Co. Ltd.
 
2,549
64,754
Hyundai Glovis Co. Ltd.
 
629
82,112
Kakao Corp.
 
9,746
337,520
KB Financial Group, Inc.
 
12,059
652,212
Korea Zinc Co. Ltd.
 
271
90,021
Korean Air Lines Co. Ltd.
 
6,011
90,393
Kumho Petro Chemical Co. Ltd.
 
509
50,485
LG Chemical Ltd.
 
1,564
448,155
LG Corp.
 
3,035
172,686
LG Display Co. Ltd. (a)
 
9,066
68,429
LG Electronics, Inc.
 
3,268
217,046
LG Energy Solution (a)
 
1,465
406,450
LG H & H Co. Ltd.
 
312
93,745
LG Uplus Corp.
 
6,599
46,738
Lotte Chemical Corp.
 
592
45,620
Mirae Asset Securities Co. Ltd.
 
7,869
42,767
NAVER Corp.
 
4,072
535,591
NCSOFT Corp.
 
476
59,974
Netmarble Corp. (a)(b)
 
835
33,339
POSCO Chemtech Co. Ltd.
 
1,001
200,815
Samsung E&A Co. Ltd. (a)
 
5,213
98,558
Samsung SDI Co. Ltd.
 
1,731
534,191
Samsung SDS Co. Ltd.
 
1,238
141,822
Samsung Securities Co. Ltd.
 
1,920
52,376
Shinhan Financial Group Co. Ltd.
 
13,664
457,788
SK Biopharmaceuticals Co. Ltd. (a)
 
964
60,475
SK Bioscience Co. Ltd. (a)
 
826
34,692
SK IE Technology Co. Ltd. (a)(b)
 
934
39,421
SK Innovation Co., Ltd. (a)
 
1,958
154,896
SK Square Co. Ltd. (a)
 
3,134
171,708
SK, Inc.
 
1,179
140,099
SKC Co. Ltd.
 
582
45,871
Woori Financial Group, Inc.
 
18,471
188,756
Yuhan Corp.
 
1,864
96,689
TOTAL KOREA (SOUTH)
 
 
7,075,599
Kuwait - 0.2%
 
 
 
Kuwait Finance House KSCP
 
296,450
692,326
Malaysia - 0.6%
 
 
 
AMMB Holdings Bhd
 
74,900
65,839
Axiata Group Bhd
 
84,704
50,156
CelcomDigi Bhd
 
116,700
101,298
CIMB Group Holdings Bhd
 
198,905
274,893
Gamuda Bhd
 
62,056
68,977
IHH Healthcare Bhd
 
71,800
94,470
Kuala Lumpur Kepong Bhd
 
14,030
67,769
Malayan Banking Bhd
 
170,340
347,096
Malaysia Airports Holdings Bhd
 
29,700
62,159
Maxis Bhd
 
79,200
60,833
MISC Bhd
 
45,400
75,649
MR DIY Group M Sdn Bhd (b)
 
110,900
36,249
Nestle (Malaysia) Bhd
 
2,200
58,568
Petronas Chemicals Group Bhd
 
90,200
128,000
Petronas Dagangan Bhd
 
9,200
41,497
Petronas Gas Bhd
 
25,800
97,231
PPB Group Bhd
 
21,300
70,170
Press Metal Aluminium Holdings
 
119,000
133,766
Public Bank Bhd
 
454,500
392,010
QL Resources Bhd
 
33,700
45,257
RHB Bank Bhd
 
46,118
53,087
Sime Darby Bhd
 
83,900
49,119
Telekom Malaysia Bhd
 
35,295
45,742
YTL Corp. Bhd
 
106,700
68,986
YTL Power International Bhd
 
79,000
75,733
TOTAL MALAYSIA
 
 
2,564,554
Mexico - 0.8%
 
 
 
America Movil S.A.B. de CV Series L
 
585,700
557,639
Arca Continental S.A.B. de CV
 
16,600
161,942
CEMEX S.A.B. de CV unit (a)
 
473,700
375,238
Fibra Uno Administracion SA de CV
 
93,500
134,213
Fomento Economico Mexicano S.A.B. de CV unit
 
61,200
715,969
Gruma S.A.B. de CV Series B
 
5,570
109,399
Grupo Aeroportuario del Sureste S.A.B. de CV Series B
 
5,810
199,576
Grupo Bimbo S.A.B. de CV Series A
 
42,200
176,823
Grupo Financiero Banorte S.A.B. de CV Series O
 
81,600
807,628
Industrias Penoles SA de CV (a)
 
6,610
95,928
Orbia Advance Corp. S.A.B. de CV
 
33,800
55,522
Prologis Property Mexico SA
 
25,208
99,415
TOTAL MEXICO
 
 
3,489,292
Netherlands - 4.0%
 
 
 
Akzo Nobel NV
 
5,350
354,790
ASML Holding NV (Netherlands)
 
12,741
11,322,384
ING Groep NV (Certificaten Van Aandelen)
 
105,096
1,661,596
JDE Peet's BV
 
3,232
71,812
Koninklijke Ahold Delhaize NV
 
30,085
913,205
Koninklijke KPN NV
 
105,355
382,874
NN Group NV
 
8,536
394,902
Universal Music Group NV
 
25,902
765,700
Wolters Kluwer NV
 
7,863
1,181,089
TOTAL NETHERLANDS
 
 
17,048,352
New Zealand - 0.2%
 
 
 
Mercury Nz Ltd.
 
22,219
83,385
Meridian Energy Ltd.
 
41,791
147,392
Spark New Zealand Ltd.
 
59,108
164,807
Xero Ltd. (a)
 
4,538
352,322
TOTAL NEW ZEALAND
 
 
747,906
Norway - 0.6%
 
 
 
Aker BP ASA
 
9,717
237,928
DNB Bank ASA
 
29,111
508,660
Equinor ASA
 
28,366
754,773
Gjensidige Forsikring ASA
 
6,572
105,722
Mowi ASA
 
14,961
263,907
Norsk Hydro ASA
 
42,801
263,029
Orkla ASA
 
22,572
154,022
Salmar ASA
 
2,135
134,825
Telenor ASA
 
20,325
234,016
TOTAL NORWAY
 
 
2,656,882
Peru - 0.1%
 
 
 
Credicorp Ltd. (United States)
 
2,122
351,424
Philippines - 0.1%
 
 
 
Ayala Corp.
 
9,090
96,705
JG Summit Holdings, Inc.
 
80,833
47,236
PLDT, Inc.
 
2,320
54,074
SM Investments Corp.
 
7,975
131,048
SM Prime Holdings, Inc.
 
327,400
158,334
Universal Robina Corp.
 
26,810
47,551
TOTAL PHILIPPINES
 
 
534,948
Poland - 0.4%
 
 
 
Allegro.eu SA (a)(b)
 
18,370
154,042
CD Projekt SA
 
1,996
58,309
KGHM Polska Miedz SA (Bearer)
 
4,533
157,175
mBank SA (a)
 
483
81,659
Orlen SA
 
18,160
297,444
Powszechna Kasa Oszczednosci Bank SA
 
27,469
411,046
Powszechny Zaklad Ubezpieczen SA
 
19,289
243,847
Santander Bank Polska SA
 
1,165
161,062
TOTAL POLAND
 
 
1,564,584
Portugal - 0.1%
 
 
 
Galp Energia SGPS SA Class B
 
14,495
312,475
Jeronimo Martins SGPS SA
 
9,152
188,992
TOTAL PORTUGAL
 
 
501,467
Qatar - 0.2%
 
 
 
Qatar Fuel Co.
 
19,870
78,912
Qatar Gas Transport Co. Ltd. (Nakilat)
 
82,615
90,738
Qatar National Bank SAQ
 
144,677
551,132
TOTAL QATAR
 
 
720,782
Romania - 0.0%
 
 
 
NEPI Rockcastle PLC
 
18,239
122,591
Russia - 0.0%
 
 
 
Gazprom OAO (a)(c)
 
372,050
38,764
LUKOIL PJSC (a)(c)
 
13,192
4,066
Moscow Exchange MICEX-RTS OAO (a)(c)
 
49,350
9,446
Novatek PJSC GDR (Reg. S) (a)(c)
 
2,894
141,227
Novolipetsk Steel OJSC (a)(c)
 
47,040
450
PhosAgro PJSC:
 
 
 
 GDR (Reg. S) (a)(c)
 
4,171
86
 sponsored GDR (Reg. S) (a)(c)
 
26
1
Polyus PJSC (a)(c)
 
1,031
2,414
TOTAL RUSSIA
 
 
196,454
Saudi Arabia - 0.7%
 
 
 
ACWA Power Co.
 
3,025
322,615
Alinma Bank
 
38,238
340,009
Bank Albilad
 
19,802
188,485
Dr Sulaiman Al Habib Medical Services Group Co.
 
2,714
224,756
Sahara International Petrochemical Co.
 
11,639
106,441
Saudi Arabian Oil Co. (b)
 
84,044
674,485
Saudi Basic Industries Corp.
 
28,237
636,172
Saudi Electricity Co.
 
26,942
133,755
The Savola Group
 
8,598
115,768
TOTAL SAUDI ARABIA
 
 
2,742,486
Singapore - 0.6%
 
 
 
CapitaLand Integrated Commercial Trust
 
169,609
241,777
CapitaLand Investment Ltd.
 
84,601
163,606
City Developments Ltd.
 
15,400
69,022
Keppel Ltd.
 
44,400
222,085
Singapore Exchange Ltd.
 
27,200
185,545
STMicroelectronics NV (France)
 
21,563
853,569
United Overseas Bank Ltd.
 
39,800
883,194
TOTAL SINGAPORE
 
 
2,618,798
South Africa - 1.6%
 
 
 
Absa Group Ltd.
 
27,340
210,821
Anglo American Platinum Ltd.
 
2,179
75,905
Anglo American PLC (United Kingdom)
 
40,092
1,310,106
Aspen Pharmacare Holdings Ltd.
 
12,171
144,992
Bid Corp. Ltd.
 
10,429
237,707
Bidvest Group Ltd./The
 
9,320
121,543
Capitec Bank Holdings Ltd.
 
2,714
335,893
Clicks Group Ltd.
 
7,197
111,977
Discovery Ltd.
 
17,409
110,907
FirstRand Ltd.
 
157,707
544,429
Gold Fields Ltd.
 
28,141
455,256
Impala Platinum Holdings Ltd.
 
29,094
129,514
Kumba Iron Ore Ltd.
 
1,981
48,561
MTN Group Ltd.
 
52,692
252,543
Naspers Ltd. Class N
 
5,774
1,105,014
Nedbank Group Ltd.
 
14,081
171,213
Northam Platinum Holdings Ltd.
 
11,736
77,759
Old Mutual Ltd.
 
145,210
85,318
Sanlam Ltd.
 
56,812
205,511
Sasol Ltd.
 
18,519
130,102
Shoprite Holdings Ltd.
 
16,176
215,825
Sibanye-Stillwater Ltd.
 
91,185
104,074
Standard Bank Group Ltd.
 
41,945
393,896
Vodacom Group Ltd.
 
20,599
98,574
Woolworths Holdings Ltd.
 
30,993
98,455
TOTAL SOUTH AFRICA
 
 
6,775,895
Spain - 1.0%
 
 
 
ACS Actividades de Construccion y Servicios SA
 
6,762
271,193
Amadeus IT Holding SA Class A
 
14,195
901,013
Iberdrola SA
 
193,690
2,374,945
Redeia Corp. SA
 
12,944
216,187
Repsol SA
 
38,191
599,449
TOTAL SPAIN
 
 
4,362,787
Sweden - 1.9%
 
 
 
Alfa Laval AB
 
9,089
390,598
ASSA ABLOY AB (B Shares)
 
31,702
837,612
Atlas Copco AB:
 
 
 
 (A Shares)
 
85,240
1,493,071
 (B Shares)
 
49,010
744,907
Beijer Ref AB (B Shares)
 
12,408
178,401
Boliden AB
 
8,793
293,701
Epiroc AB:
 
 
 
 (A Shares)
 
21,352
394,743
 (B Shares)
 
11,647
195,096
EQT AB
 
11,777
323,054
Essity AB (B Shares)
 
19,189
478,140
H&M Hennes & Mauritz AB (B Shares)
 
20,342
326,254
Holmen AB (B Shares)
 
2,441
95,599
Husqvarna AB (B Shares)
 
11,512
94,725
Nibe Industrier AB (B Shares)
 
47,477
222,298
Sandvik AB
 
33,515
677,270
SKF AB (B Shares)
 
10,969
228,927
Svenska Cellulosa AB SCA (B Shares)
 
18,954
278,710
Svenska Handelsbanken AB (A Shares)
 
46,027
394,697
Tele2 AB (B Shares)
 
16,440
153,802
Telia Co. AB
 
75,080
172,092
TOTAL SWEDEN
 
 
7,973,697
Switzerland - 5.0%
 
 
 
ABB Ltd. (Reg.)
 
50,542
2,455,757
Baloise Holdings AG
 
1,428
215,618
Banque Cantonale Vaudoise
 
987
103,290
Clariant AG (Reg.)
 
7,198
107,901
DSM-Firmenich AG
 
5,864
661,477
Geberit AG (Reg.)
 
1,055
566,492
Givaudan SA
 
292
1,253,448
Julius Baer Group Ltd.
 
6,481
347,760
Kuehne & Nagel International AG
 
1,712
453,864
Lindt & Spruengli AG
 
3
347,240
Lindt & Spruengli AG (participation certificate)
 
34
392,429
Logitech International SA (Reg.)
 
5,190
406,844
Lonza Group AG
 
2,352
1,298,289
Novartis AG
 
64,763
6,285,738
SGS SA (Reg.)
 
4,917
433,584
Sig Group AG
 
9,705
194,258
Sika AG
 
4,817
1,379,729
Sonova Holding AG
 
1,593
442,591
Swiss Life Holding AG
 
931
628,938
Swisscom AG
 
816
446,947
Temenos AG
 
2,062
128,980
VAT Group AG (b)
 
850
427,843
Zurich Insurance Group Ltd.
 
4,632
2,238,275
TOTAL SWITZERLAND
 
 
21,217,292
Taiwan - 6.6%
 
 
 
Acer, Inc.
 
94,000
129,110
AUO Corp.
 
214,400
119,671
Cathay Financial Holding Co. Ltd.
 
300,751
464,241
China Airlines Ltd.
 
89,000
56,894
China Steel Corp.
 
366,000
278,331
Chunghwa Telecom Co. Ltd.
 
120,000
455,289
CTBC Financial Holding Co. Ltd.
 
556,000
579,276
Delta Electronics, Inc.
 
61,000
596,329
E.SUN Financial Holdings Co. Ltd.
 
443,635
372,125
EVA Airways Corp.
 
85,000
92,251
Evergreen Marine Corp. (Taiwan)
 
32,157
186,518
Far Eastern New Century Corp.
 
98,000
97,585
Far EasTone Telecommunications Co. Ltd.
 
56,000
138,656
First Financial Holding Co. Ltd.
 
342,228
286,387
Fubon Financial Holding Co. Ltd.
 
246,285
520,094
Hotai Motor Co. Ltd.
 
9,180
173,892
Hua Nan Financial Holdings Co. Ltd.
 
287,357
207,798
Lite-On Technology Corp.
 
64,000
193,370
MediaTek, Inc.
 
48,000
1,444,683
Mega Financial Holding Co. Ltd.
 
363,255
444,346
Nan Ya Plastics Corp.
 
147,000
254,798
PharmaEssentia Corp. (a)
 
8,000
71,804
President Chain Store Corp.
 
18,000
151,104
Sinopac Financial Holdings Co.
 
329,806
221,488
Taishin Financial Holdings Co. Ltd.
 
362,721
199,348
Taiwan Cooperative Financial Holding Co. Ltd.
 
323,302
259,353
Taiwan High Speed Rail Corp.
 
61,000
55,827
Taiwan Mobile Co. Ltd.
 
58,000
184,784
Taiwan Semiconductor Manufacturing Co. Ltd.
 
779,000
18,619,023
Uni-President Enterprises Corp.
 
151,000
353,557
United Microelectronics Corp.
 
356,000
545,994
Voltronic Power Technology Corp.
 
2,000
94,466
Wan Hai Lines Ltd.
 
21,460
33,274
Yang Ming Marine Transport Corp.
 
57,000
90,969
TOTAL TAIWAN
 
 
27,972,635
Thailand - 0.6%
 
 
 
Advanced Info Service PCL (For. Reg.)
 
13,300
70,473
Advanced Information Service PCL NVDR
 
24,900
131,939
Airports of Thailand PCL:
 
 
 
 (For. Reg.)
 
33,200
58,133
 NVDR
 
104,400
182,803
Asset World Corp. PCL NVDR
 
247,500
29,139
Bangkok Dusit Medical Services PCL:
 
 
 
 (For. Reg.)
 
93,300
72,660
 NVDR
 
264,000
205,598
Bangkok Expressway and Metro PCL NVDR
 
234,900
52,297
BTS Group Holdings PCL:
 
 
 
 (For. Reg.)
 
90,133
15,279
 NVDR
 
151,100
25,702
Bumrungrad Hospital PCL:
 
 
 
 (For. Reg.)
 
3,300
21,722
 NVDR
 
14,000
92,155
Central Retail Corp. PCL NVDR
 
60,700
55,994
Charoen Pokphand Foods PCL:
 
 
 
 (For. Reg.)
 
43,800
23,298
 NVDR
 
77,000
40,957
CP ALL PCL:
 
 
 
 (For. Reg.)
 
24,300
37,455
 NVDR
 
137,600
212,090
Delta Electronics PCL NVDR
 
100,500
186,944
Energy Absolute PCL:
 
 
 
 (For. Reg.)
 
3,800
3,114
 NVDR
 
35,300
28,931
Home Product Center PCL:
 
 
 
 (For. Reg.)
 
25,200
7,015
 NVDR
 
174,600
48,606
Indorama Ventures PCL:
 
 
 
 (For. Reg.)
 
10,900
6,977
 NVDR
 
25,900
16,578
Intouch Holdings PCL:
 
 
 
 (For. Reg.)
 
4,800
8,622
 NVDR
 
27,900
50,117
Kasikornbank PCL NVDR
 
19,800
69,317
Minor International PCL:
 
 
 
 (For. Reg.)
 
48,599
42,971
 NVDR
 
62,568
55,322
Muangthai Leasing PCL NVDR
 
22,800
27,672
PTT Exploration and Production PCL:
 
 
 
 (For. Reg.)
 
16,400
68,421
 NVDR
 
28,200
117,652
PTT Global Chemical PCL:
 
 
 
 (For. Reg.)
 
11,900
11,706
 NVDR
 
63,200
62,168
PTT Oil & Retail Business PCL NVDR
 
92,200
46,169
SCG Packaging PCL NVDR
 
39,600
34,382
Siam Cement PCL:
 
 
 
 (For. Reg.)
 
4,600
30,734
 NVDR
 
20,800
138,971
TOTAL THAILAND
 
 
2,390,083
Turkey - 0.2%
 
 
 
Haci Omer Sabanci Holding A/S
 
33,431
95,278
Koc Holding A/S
 
24,259
169,361
Turk Hava Yollari AO (a)
 
17,677
177,937
Turkiye Is Bankasi A/S Series C
 
285,294
120,773
Turkiye Sise ve Cam Fabrikalari A/S
 
45,396
70,646
Yapi ve Kredi Bankasi A/S
 
110,318
109,956
TOTAL TURKEY
 
 
743,951
United Arab Emirates - 0.5%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
90,425
205,573
Abu Dhabi Islamic Bank
 
47,110
143,142
Aldar Properties PJSC
 
122,005
181,368
Emaar Properties PJSC
 
208,164
465,307
Emirates NBD Bank PJSC
 
59,386
274,868
Emirates Telecommunications Corp.
 
108,838
503,756
First Abu Dhabi Bank PJSC
 
138,710
471,317
NMC Health PLC (a)(c)
 
987
0
TOTAL UNITED ARAB EMIRATES
 
 
2,245,331
United Kingdom - 7.9%
 
 
 
3i Group PLC
 
30,780
1,099,691
Abrdn PLC
 
59,878
109,612
Admiral Group PLC
 
8,325
283,884
Ashtead Group PLC
 
13,815
1,008,477
Associated British Foods PLC
 
10,755
356,937
AstraZeneca PLC (United Kingdom)
 
48,979
7,408,022
Auto Trader Group PLC (b)
 
28,648
248,363
Barratt Developments PLC
 
30,947
175,832
Berkeley Group Holdings PLC
 
3,388
199,566
BT Group PLC
 
202,554
259,682
Burberry Group PLC
 
11,128
159,227
Coca-Cola European Partners PLC
 
6,518
469,426
Croda International PLC
 
4,148
238,942
DCC PLC (United Kingdom)
 
3,147
215,689
HSBC Holdings PLC (United Kingdom)
 
605,569
5,249,044
Informa PLC
 
43,230
429,876
Intertek Group PLC
 
5,083
314,016
J Sainsbury PLC
 
52,545
172,942
Kingfisher PLC
 
60,666
186,871
Legal & General Group PLC
 
188,084
554,648
Lloyds Banking Group PLC
 
2,008,823
1,296,461
National Grid PLC
 
117,346
1,539,247
Ocado Group PLC (a)
 
18,886
83,328
Phoenix Group Holdings PLC
 
23,330
142,787
Reckitt Benckiser Group PLC
 
22,543
1,260,312
RELX PLC (London Stock Exchange)
 
59,667
2,451,531
Sage Group PLC
 
32,231
469,598
Schroders PLC
 
25,956
114,425
Segro PLC
 
39,474
418,274
Spirax-Sarco Engineering PLC
 
2,304
254,644
St. James's Place PLC
 
17,375
94,573
Taylor Wimpey PLC
 
114,518
188,744
Tesco PLC
 
222,790
822,557
Unilever PLC
 
79,022
4,087,872
Vodafone Group PLC
 
725,040
611,428
WPP PLC
 
33,720
337,981
TOTAL UNITED KINGDOM
 
 
33,314,509
United States of America - 1.8%
 
 
 
Brookfield Renewable Corp.
 
4,004
93,014
CRH PLC
 
21,923
1,708,283
James Hardie Industries PLC CDI (a)
 
13,900
477,854
Schneider Electric SA
 
17,193
3,920,233
Swiss Re Ltd.
 
9,541
1,036,043
Tenaris SA
 
14,943
249,972
TOTAL UNITED STATES OF AMERICA
 
 
7,485,399
 
TOTAL COMMON STOCKS
 (Cost $383,795,683)
 
 
 
405,876,590
 
 
 
 
Nonconvertible Preferred Stocks - 0.6%
 
 
Shares
Value ($)
 
Brazil - 0.4%
 
 
 
Banco Bradesco SA (PN)
 
168,355
453,909
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
58,458
142,987
Gerdau SA
 
41,070
144,424
Itau Unibanco Holding SA
 
151,300
913,756
TOTAL BRAZIL
 
 
1,655,076
Chile - 0.1%
 
 
 
Sociedad Quimica y Minera de Chile SA (PN-B)
 
4,445
203,024
Colombia - 0.0%
 
 
 
Bancolombia SA (PN)
 
14,054
114,997
Germany - 0.1%
 
 
 
Bayerische Motoren Werke AG (BMW) (non-vtg.)
 
1,862
191,758
Henkel AG & Co. KGaA
 
5,365
426,205
TOTAL GERMANY
 
 
617,963
Korea (South) - 0.0%
 
 
 
LG Chemical Ltd.
 
221
42,296
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $2,719,839)
 
 
 
2,633,356
 
 
 
 
Government Obligations - 0.1%
 
 
Principal
Amount (d)
 
Value ($)
 
United States of America - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (e)
  (Cost $199,360)
 
200,000
199,355
 
 
 
 
Money Market Funds - 3.0%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (f)
 
 (Cost $12,872,178)
 
 
12,869,604
12,872,178
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.4%
 (Cost $399,587,060)
 
 
 
421,581,479
NET OTHER ASSETS (LIABILITIES) - 0.6%  
2,372,263
NET ASSETS - 100.0%
423,953,742
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
88
Jun 2024
9,977,000
(154,354)
(154,354)
ICE MSCI Emerging Markets Index Contracts (United States)
85
Jun 2024
4,428,500
18,126
18,126
TME S&P/TSX 60 Index Contracts (Canada)
6
Jun 2024
1,137,980
(13,927)
(13,927)
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(150,155)
The notional amount of futures purchased as a percentage of Net Assets is 3.7%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $6,175,699 or 1.5% of net assets.
 
(c)
Level 3 security
 
(d)
Amount is stated in United States dollars unless otherwise noted.
 
(e)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $199,355.
 
(f)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
4,832,504
29,803,620
21,763,986
155,105
40
-
12,872,178
0.0%
Total
4,832,504
29,803,620
21,763,986
155,105
40
-
12,872,178
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
28,499,567
4,395,832
24,103,735
-
Consumer Discretionary
46,410,426
10,166,103
36,244,323
-
Consumer Staples
29,734,772
11,361,186
18,373,586
-
Energy
19,058,015
7,173,725
11,700,233
184,057
Financials
84,294,529
33,286,153
50,998,930
9,446
Health Care
41,239,718
1,630,283
39,609,435
-
Industrials
53,775,078
18,838,147
34,936,931
-
Information Technology
54,323,391
15,395,041
38,928,350
-
Materials
29,446,818
15,868,711
13,575,156
2,951
Real Estate
9,604,331
2,177,897
7,426,434
-
Utilities
12,123,301
3,210,767
8,912,534
-
 Government Obligations
199,355
-
199,355
-
  Money Market Funds
12,872,178
12,872,178
-
-
 Total Investments in Securities:
421,581,479
136,376,023
285,009,002
196,454
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
18,126
18,126
-
-
  Total Assets
18,126
18,126
-
-
 Liabilities
 
 
 
 
Futures Contracts
(168,281)
(168,281)
-
-
  Total Liabilities
(168,281)
(168,281)
-
-
 Total Derivative Instruments:
(150,155)
(150,155)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
18,126
(168,281)
Total Equity Risk
18,126
(168,281)
Total Value of Derivatives
18,126
(168,281)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $386,714,882)
$
408,709,301
 
 
Fidelity Central Funds (cost $12,872,178)
12,872,178
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $399,587,060)
 
 
$
421,581,479
Segregated cash with brokers for derivative instruments
 
 
301,921
Foreign currency held at value (cost $719,197)
 
 
712,789
Receivable for fund shares sold
 
 
137,335
Dividends receivable
 
 
1,260,363
Reclaims receivable
 
 
947,474
Distributions receivable from Fidelity Central Funds
 
 
37,315
  Total assets
 
 
424,978,676
Liabilities
 
 
 
 
Payable for fund shares redeemed
$
124,146
 
 
Accrued management fee
70,275
 
 
Payable for daily variation margin on futures contracts
209,345
 
 
Deferred taxes
620,502
 
 
Other payables and accrued expenses
666
 
 
  Total liabilities
 
 
 
1,024,934
Net Assets  
 
 
$
423,953,742
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
436,711,471
Total accumulated earnings (loss)
 
 
 
(12,757,729)
Net Assets
 
 
$
423,953,742
Net Asset Value, offering price and redemption price per share ($423,953,742 ÷ 35,485,114 shares)
 
 
$
11.95
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
5,843,008
Interest  
 
 
18,053
Income from Fidelity Central Funds  
 
 
155,105
 Income before foreign taxes withheld
 
 
$
6,016,166
Less foreign taxes withheld
 
 
(515,747)
 Total income
 
 
 
5,500,419
Expenses
 
 
 
 
Management fee
$
411,441
 
 
Independent trustees' fees and expenses
584
 
 
Miscellaneous
2,998
 
 
 Total expenses before reductions
 
415,023
 
 
 Expense reductions
 
(64)
 
 
 Total expenses after reductions
 
 
 
414,959
Net Investment income (loss)
 
 
 
5,085,460
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $29,973)
 
(4,482,412)
 
 
   Fidelity Central Funds
 
40
 
 
 Foreign currency transactions
 
(3,052)
 
 
 Futures contracts
 
835,493
 
 
Total net realized gain (loss)
 
 
 
(3,649,931)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $431,823)  
 
57,825,169
 
 
 Assets and liabilities in foreign currencies
 
(22,603)
 
 
 Futures contracts
 
(19,831)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
57,782,735
Net gain (loss)
 
 
 
54,132,804
Net increase (decrease) in net assets resulting from operations
 
 
$
59,218,264
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
5,085,460
$
10,579,026
Net realized gain (loss)
 
(3,649,931)
 
 
(9,959,911)
 
Change in net unrealized appreciation (depreciation)
 
57,782,735
 
41,609,910
 
Net increase (decrease) in net assets resulting from operations
 
59,218,264
 
 
42,229,025
 
Distributions to shareholders
 
(10,671,765)
 
 
(8,331,104)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
43,049,358
 
72,093,340
  Reinvestment of distributions
 
9,588,850
 
 
7,520,386
 
Cost of shares redeemed
 
(40,927,975)
 
(83,900,144)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
11,710,233
 
 
(4,286,418)
 
Total increase (decrease) in net assets
 
60,256,732
 
 
29,611,503
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
363,697,010
 
334,085,507
 
End of period
$
423,953,742
$
363,697,010
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
3,695,120
 
6,485,020
  Issued in reinvestment of distributions
 
839,654
 
 
721,034
 
Redeemed
 
(3,495,465)
 
(7,589,054)
Net increase (decrease)
 
1,039,309
 
(383,000)
 
 
 
 
 
 
Financial Highlights
 
Fidelity® International Sustainability Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
10.56
$
9.59
$
13.60
$
10.81
$
10.89
$
9.87
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.14
 
.31
 
.29
 
.30
 
.24
 
.32 C
     Net realized and unrealized gain (loss)
 
1.56
 
.90
 
(4.04)
 
2.63
 
(.08)
 
.91
  Total from investment operations
 
1.70  
 
1.21  
 
(3.75)  
 
2.93  
 
.16
 
1.23
  Distributions from net investment income
 
(.31)
 
(.24)
 
(.26)
 
(.14)
 
(.24)
 
(.21)
     Total distributions
 
(.31)
 
(.24)
 
(.26)
 
(.14)
 
(.24)
 
(.21)
  Net asset value, end of period
$
11.95
$
10.56
$
9.59
$
13.60
$
10.81
$
10.89
 Total Return D,E
 
16.22
%
 
 
12.68%
 
(28.11)%
 
27.27%
 
1.48%
 
12.81%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.20% H,I
 
.20%
 
.20%
 
.20%
 
.20%
 
.20%
    Expenses net of fee waivers, if any
 
.20
% H,I
 
 
.20%
 
.20%
 
.20%
 
.20%
 
.20%
    Expenses net of all reductions
 
.20% H,I
 
.20%
 
.20%
 
.20%
 
.20%
 
.20%
    Net investment income (loss)
 
2.47% H,I
 
2.77%
 
2.52%
 
2.28%
 
2.25%
 
3.14% C
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
423,954
$
363,697
$
334,086
$
404,608
$
149,868
$
71,875
    Portfolio turnover rate J
 
8
% I
 
 
22%
 
23%
 
19%
 
11%
 
17%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CNet investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.04 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.73%.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HProxy expenses are not annualized.
 
IAnnualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity International Sustainability Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
 
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
 
 
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign taxes withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. The Fund did not recognize dividend income during the period on certain Russian securities due to restrictions imposed by the Russian government on these dividend payments. There is uncertainty regarding the timeline for these restrictions to be lifted and the collectability of these and future dividend payments on Russian securities.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Deferred taxes on the Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$73,348,231
Gross unrealized depreciation
(52,302,943)
Net unrealized appreciation (depreciation)
$21,045,288
Tax cost
$400,386,036
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(13,590,977)
 Long-term
(19,493,111)
Total capital loss carryforward
$(33,084,088)
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity International Sustainability Index Fund
16,944,182
18,303,841
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is based on an annual rate of .20% of the Fund's average net assets. Under the management contract, the investment adviser pays all other operating expenses, except the compensation of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
8. Expense Reductions.
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $64.
 
9. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
10. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® International Sustainability Index Fund
 
 
 
.20%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,162.20
 
$ 1.08
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,023.87
 
$ 1.01
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9883819.106
ISY-SANN-0624
Fidelity® Series Global ex U.S. Index Fund
 
 
Semi-Annual Report
April 30, 2024

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
2.3
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
1.6
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
1.4
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
1.1
 
Nestle SA (Reg. S)  (United States of America, Food Products)
1.0
 
Samsung Electronics Co. Ltd.  (Korea (South), Technology Hardware, Storage & Peripherals)
1.0
 
Toyota Motor Corp.  (Japan, Automobiles)
0.9
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
0.9
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
0.9
 
LVMH Moet Hennessy Louis Vuitton SE  (France, Textiles, Apparel & Luxury Goods)
0.9
 
 
12.0
 
 
Market Sectors (% of Fund's net assets)
 
Financials
22.4
 
Industrials
13.1
 
Information Technology
12.0
 
Consumer Discretionary
11.4
 
Health Care
9.6
 
Materials
7.4
 
Consumer Staples
7.3
 
Energy
5.9
 
Communication Services
5.1
 
Utilities
2.4
 
Real Estate
1.6
 
 
Asset Allocation (% of Fund's net assets)
Futures - 1.9%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 97.2%
 
 
Shares
Value ($)
 
Australia - 4.6%
 
 
 
Ampol Ltd.
 
403,005
9,516,477
ANZ Group Holdings Ltd.
 
5,099,267
92,010,809
APA Group unit
 
2,166,572
11,561,869
Aristocrat Leisure Ltd.
 
982,394
25,070,681
ASX Ltd.
 
329,380
13,455,220
Aurizon Holdings Ltd.
 
3,096,045
7,604,665
BHP Group Ltd.
 
8,596,359
235,764,740
BlueScope Steel Ltd.
 
752,916
10,989,129
Brambles Ltd.
 
2,362,391
22,224,555
CAR Group Ltd.
 
609,523
13,216,602
Cochlear Ltd.
 
111,213
23,199,918
Coles Group Ltd.
 
2,273,464
23,710,452
Commonwealth Bank of Australia
 
2,839,668
208,061,136
Computershare Ltd.
 
912,916
16,038,445
DEXUS Property Group unit
 
1,829,909
8,311,836
EBOS Group Ltd.
 
264,747
5,455,646
Endeavour Group Ltd.
 
2,439,808
8,390,268
Fortescue Ltd.
 
2,873,531
47,627,188
Glencore PLC
 
17,591,587
102,357,782
Goodman Group unit
 
2,899,621
58,571,276
IDP Education Ltd. (a)
 
450,109
4,693,240
Insurance Australia Group Ltd.
 
4,081,842
16,910,978
Macquarie Group Ltd.
 
620,286
74,272,125
Medibank Private Ltd.
 
4,684,255
10,735,658
Mineral Resources Ltd.
 
298,651
13,547,507
Mirvac Group unit
 
6,678,272
8,750,336
National Australia Bank Ltd.
 
5,288,614
114,644,094
Northern Star Resources Ltd.
 
1,952,021
18,502,687
Orica Ltd.
 
823,191
9,531,509
Origin Energy Ltd.
 
2,925,219
18,462,279
Pilbara Minerals Ltd. (a)
 
4,820,943
12,273,655
Qantas Airways Ltd. (b)
 
1,425,493
5,378,250
QBE Insurance Group Ltd.
 
2,534,708
28,994,445
Ramsay Health Care Ltd.
 
314,957
10,557,427
REA Group Ltd.
 
90,016
10,318,359
Reece Ltd.
 
383,955
6,811,229
Rio Tinto Ltd.
 
629,385
52,380,150
Rio Tinto PLC
 
1,910,323
129,253,941
Santos Ltd.
 
5,518,313
27,080,391
Scentre Group unit
 
8,749,150
17,717,472
SEEK Ltd.
 
606,962
9,376,246
Seven Group Holdings Ltd.
 
275,894
6,703,979
Sonic Healthcare Ltd.
 
766,623
13,174,933
South32 Ltd.
 
7,655,990
17,466,995
Stockland Corp. Ltd. unit
 
4,069,178
11,528,456
Suncorp Group Ltd.
 
2,157,106
23,038,791
Telstra Group Ltd.
 
6,859,006
16,205,172
The GPT Group
 
3,266,010
8,783,714
The Lottery Corp. Ltd.
 
3,762,175
11,736,075
Transurban Group unit
 
5,233,091
42,013,665
Treasury Wine Estates Ltd.
 
1,368,997
10,616,860
Vicinity Centres unit
 
6,539,709
8,008,324
Washington H. Soul Pattinson & Co. Ltd.
 
399,129
8,352,808
Wesfarmers Ltd.
 
1,924,818
82,457,707
Westpac Banking Corp.
 
5,937,797
98,605,099
WiseTech Global Ltd.
 
283,092
16,677,671
Woodside Energy Group Ltd.
 
3,223,403
57,753,739
Woolworths Group Ltd.
 
2,072,676
42,525,343
TOTAL AUSTRALIA
 
 
2,018,980,003
Austria - 0.2%
 
 
 
Erste Group Bank AG
 
583,865
27,335,429
Mondi PLC
 
211,291
4,028,975
Mondi PLC
 
541,383
10,275,809
OMV AG
 
249,263
11,885,482
Verbund AG
 
115,738
8,843,717
Voestalpine AG
 
198,387
5,318,371
TOTAL AUSTRIA
 
 
67,687,783
Belgium - 0.5%
 
 
 
Ageas
 
271,653
12,506,635
Anheuser-Busch InBev SA NV
 
1,472,775
88,033,345
D'ieteren Group
 
36,396
7,892,656
Elia Group SA/NV
 
50,074
4,828,211
Groupe Bruxelles Lambert SA
 
148,928
11,101,677
KBC Group NV
 
424,847
31,692,431
Lotus Bakeries SA
 
689
6,933,887
Sofina SA
 
26,262
6,188,319
Syensqo SA
 
126,049
11,728,755
UCB SA
 
214,583
28,522,321
Umicore SA
 
356,079
7,926,957
Warehouses de Pauw
 
297,408
7,915,802
Warehouses de Pauw rights (b)(c)
 
297,408
355,481
TOTAL BELGIUM
 
 
225,626,477
Brazil - 1.1%
 
 
 
Ambev SA
 
7,580,630
17,737,676
Atacadao SA
 
1,073,900
2,310,107
B3 SA - Brasil Bolsa Balcao
 
9,543,475
19,830,932
Banco Bradesco SA
 
1,575,438
3,750,032
Banco BTG Pactual SA unit
 
2,001,400
12,873,466
Banco do Brasil SA
 
2,918,400
15,410,879
Banco Santander SA (Brasil) unit
 
640,600
3,565,331
BB Seguridade Participacoes SA
 
1,190,100
7,379,968
Caixa Seguridade Participacoes
 
1,026,400
3,095,448
CCR SA
 
1,715,800
4,074,224
Centrais Eletricas Brasileiras SA (Electrobras)
 
2,005,130
14,619,694
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
 
577,400
8,986,918
Companhia Siderurgica Nacional SA (CSN)
 
1,134,200
3,040,493
Cosan SA
 
2,078,932
5,805,283
CPFL Energia SA (b)
 
408,200
2,507,719
Energisa SA unit
 
442,800
3,845,911
Eneva SA (b)
 
978,400
2,332,664
ENGIE Brasil Energia SA
 
335,950
2,646,142
Equatorial Energia SA
 
1,757,816
10,355,427
Hapvida Participacoes e Investimentos SA (b)(d)
 
8,325,744
5,916,496
Hypera SA (b)
 
635,100
3,610,552
Klabin SA unit
 
1,258,700
5,584,957
Localiza Rent a Car SA
 
1,547,848
14,615,219
Lojas Renner SA
 
1,661,309
4,904,646
Magazine Luiza SA (b)
 
6,202,267
1,624,443
Natura & Co. Holding SA
 
1,535,919
4,907,156
Petroleo Brasileiro SA - Petrobras (ON)
 
5,591,711
47,661,890
PRIO SA
 
1,360,200
12,573,585
Raia Drogasil SA
 
2,193,844
10,807,405
Rede D'Oregon Sao Luiz SA (d)
 
981,111
4,912,546
Rumo SA
 
2,194,400
8,519,644
Sendas Distribuidora SA
 
2,303,600
5,820,443
Suzano SA
 
1,349,295
15,190,807
Telefonica Brasil SA
 
697,440
6,358,435
TIM SA
 
1,450,003
4,917,489
Totvs SA
 
947,200
5,023,666
Ultrapar Participacoes SA
 
1,226,200
6,104,316
Vale SA
 
5,730,847
69,850,423
Vale SA sponsored ADR
 
43,641
531,111
Vibra Energia SA
 
1,970,550
8,902,882
Weg SA
 
2,850,732
21,712,909
Wheaton Precious Metals Corp. (a)
 
769,175
40,072,082
Yara International ASA
 
281,334
8,041,009
TOTAL BRAZIL
 
 
462,332,425
Burkina Faso - 0.0%
 
 
 
Endeavour Mining PLC
 
313,009
6,660,780
Canada - 7.2%
 
 
 
Agnico Eagle Mines Ltd. (Canada)
 
842,100
53,328,208
Air Canada (b)
 
298,048
4,399,328
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
1,303,621
72,252,412
AltaGas Ltd. (a)
 
498,975
10,938,921
ARC Resources Ltd. (a)
 
1,016,946
18,416,056
Bank of Montreal
 
1,222,696
109,217,976
Bank of Nova Scotia (a)
 
2,058,383
94,437,562
Barrick Gold Corp. (Canada)
 
2,980,953
49,543,606
BCE, Inc. (a)
 
123,096
4,044,334
Brookfield Asset Management Ltd. Class A
 
595,422
22,745,972
Brookfield Corp. (Canada) Class A (a)
 
2,355,474
94,482,457
CAE, Inc. (b)
 
541,196
10,441,409
Cameco Corp.
 
736,868
33,619,787
Canadian Apartment Properties (REIT) unit (a)
 
139,974
4,356,871
Canadian Imperial Bank of Commerce
 
1,578,940
73,702,600
Canadian National Railway Co.
 
926,003
112,393,013
Canadian Natural Resources Ltd.
 
1,815,473
137,573,198
Canadian Pacific Kansas City Ltd.
 
1,580,223
123,970,569
Canadian Tire Ltd. Class A (non-vtg.) (a)
 
89,227
8,619,692
Canadian Utilities Ltd. Class A (non-vtg.) (a)
 
217,840
4,870,603
CCL Industries, Inc. Class B
 
253,972
12,969,333
Cenovus Energy, Inc. (Canada)
 
2,384,289
48,979,547
CGI, Inc. Class A (sub. vtg.) (b)
 
349,620
35,425,485
Constellation Software, Inc.
 
34,154
87,931,819
Constellation Software, Inc. warrants 3/31/40 (b)(e)
 
30,824
2
Descartes Systems Group, Inc. (Canada) (b)
 
144,644
13,417,382
Dollarama, Inc.
 
477,253
39,812,396
Element Fleet Management Corp. (a)
 
656,801
10,481,908
Emera, Inc. (a)
 
481,604
16,242,962
Empire Co. Ltd. Class A (non-vtg.) (a)
 
235,138
5,477,700
Enbridge, Inc. (a)
 
3,606,462
128,236,164
Fairfax Financial Holdings Ltd. (sub. vtg.)
 
36,054
39,198,331
FirstService Corp.
 
67,762
9,952,767
Fortis, Inc.
 
828,197
32,522,667
Franco-Nevada Corp.
 
326,047
39,249,271
George Weston Ltd.
 
102,864
13,537,116
Gildan Activewear, Inc. (a)
 
258,729
8,968,545
Great-West Lifeco, Inc. (a)
 
473,139
13,991,566
Hydro One Ltd. (a)(d)
 
557,573
15,617,633
iA Financial Corp., Inc.
 
168,758
10,231,027
IGM Financial, Inc.
 
141,709
3,542,082
Imperial Oil Ltd. (a)
 
318,796
21,918,455
Intact Financial Corp.
 
301,724
49,592,191
Ivanhoe Mines Ltd. (a)(b)
 
1,068,011
14,476,508
Keyera Corp.
 
388,567
9,969,263
Kinross Gold Corp.
 
2,091,218
13,489,279
Loblaw Companies Ltd.
 
265,467
29,110,448
Magna International, Inc. Class A (sub. vtg.)
 
461,776
22,071,595
Manulife Financial Corp.
 
3,063,577
71,457,130
MEG Energy Corp. (b)
 
465,510
10,587,381
Metro, Inc.
 
385,557
19,722,460
National Bank of Canada
 
573,457
46,046,516
Northland Power, Inc. (a)
 
432,221
6,596,421
Nutrien Ltd.
 
839,363
44,259,151
Onex Corp. (sub. vtg.)
 
111,847
7,935,275
Open Text Corp.
 
459,816
16,236,266
Pan American Silver Corp.
 
621,066
11,454,521
Parkland Corp.
 
237,596
7,319,541
Pembina Pipeline Corp.
 
982,847
34,583,306
Power Corp. of Canada (sub. vtg.)
 
962,060
25,633,502
Quebecor, Inc. Class B (sub. vtg.)
 
262,756
5,437,779
RB Global, Inc. (a)
 
309,433
22,149,215
Restaurant Brands International, Inc.
 
417,290
31,657,842
Restaurant Brands International, Inc. (a)
 
86,349
6,549,572
RioCan (REIT) (a)
 
256,558
3,250,188
Rogers Communications, Inc. Class B (non-vtg.)
 
602,039
22,552,683
Royal Bank of Canada (a)
 
2,384,093
230,659,461
Saputo, Inc.
 
432,013
8,306,675
Shopify, Inc. Class A (b)
 
2,045,003
143,572,833
Stantec, Inc.
 
193,790
15,429,718
Sun Life Financial, Inc.
 
990,376
50,567,340
Suncor Energy, Inc.
 
2,189,528
83,547,674
TC Energy Corp. (a)
 
1,760,318
63,065,328
Teck Resources Ltd. Class B (sub. vtg.)
 
782,104
38,456,122
TELUS Corp.
 
830,119
13,332,315
TFI International, Inc. (Canada)
 
136,208
17,738,256
The Toronto-Dominion Bank
 
3,007,091
178,396,195
Thomson Reuters Corp. (a)
 
268,849
40,607,106
TMX Group Ltd.
 
471,296
12,478,654
Toromont Industries Ltd.
 
138,822
12,705,896
Tourmaline Oil Corp.
 
566,610
27,691,513
West Fraser Timber Co. Ltd.
 
95,476
7,312,672
WSP Global, Inc.
 
211,598
32,107,439
TOTAL CANADA
 
 
3,159,171,962
Chile - 0.2%
 
 
 
Antofagasta PLC
 
670,078
18,504,241
Banco de Chile
 
78,061,044
8,659,446
Banco de Credito e Inversiones
 
127,208
3,710,173
Banco Santander Chile
 
113,748,480
5,153,960
Cencosud SA
 
2,106,966
3,610,405
Compania Sud Americana de Vapores SA
 
25,670,657
2,002,742
Empresas CMPC SA
 
1,857,484
3,668,340
Empresas COPEC SA
 
667,052
4,760,141
Enel Americas SA
 
37,044,078
3,472,701
Enel Chile SA
 
45,778,724
2,717,970
Falabella SA (b)
 
1,453,426
3,890,740
LATAM Airlines Group SA
 
309,931,265
4,193,539
Lundin Mining Corp.
 
1,110,448
12,680,233
TOTAL CHILE
 
 
77,024,631
China - 7.7%
 
 
 
360 Security Technology, Inc. (A Shares) (b)
 
657,300
769,100
37 Interactive Entertainment Network Technology Group Co. Ltd. (A Shares)
 
202,700
465,631
AAC Technology Holdings, Inc.
 
1,232,500
3,922,601
Accelink Technologies Co. Ltd. (A Shares) (b)
 
73,700
377,840
ACM Research Shanghai, Inc. (A Shares) (b)
 
27,615
310,991
Advanced Micro-Fabrication Equipment, Inc., China (A Shares)
 
57,519
1,118,366
AECC Aero-Engine Control Co. Ltd. (A Shares)
 
120,600
324,935
AECC Aviation Power Co. Ltd.
 
245,852
1,198,206
Agricultural Bank of China Ltd.:
 
 
 
 (A Shares)
 
7,458,100
4,527,042
 (H Shares)
 
48,734,000
21,731,024
Aier Eye Hospital Group Co. Ltd. (A Shares)
 
1,102,701
1,958,544
AIMA Technology Group Co. Ltd.
 
76,600
371,717
Air China Ltd.:
 
 
 
 (A Shares) (b)
 
1,679,300
1,707,712
 (H Shares) (a)(b)
 
2,076,000
1,040,818
Airtac International Group
 
237,456
8,392,384
Akeso, Inc. (b)(d)
 
843,000
5,158,420
Alibaba Group Holding Ltd.
 
27,613,124
258,543,463
Alibaba Health Information Technology Ltd. (a)(b)
 
9,768,000
3,646,188
Aluminum Corp. of China Ltd.:
 
 
 
 (A shares)
 
950,100
970,069
 (H Shares)
 
7,112,000
4,716,777
Amlogic Shanghai Co. Ltd. (A Shares)
 
38,668
307,432
Angel Yeast Co. Ltd. (A Shares)
 
74,000
303,833
Anhui Conch Cement Co. Ltd.:
 
 
 
 (A Shares)
 
318,000
1,007,303
 (H Shares)
 
2,326,500
5,397,633
Anhui Gujing Distillery Co. Ltd.:
 
 
 
 (A Shares)
 
40,900
1,528,596
 (B Shares)
 
177,200
2,904,502
Anhui Jianghuai Automobile Group Corp. Ltd. (A Shares) (b)
 
186,200
400,757
Anhui Kouzi Distillery Co. Ltd. (A Shares)
 
54,900
315,694
Anhui Yingjia Distillery Co. Ltd. (A Shares)
 
74,200
725,546
Anjoy Foods Group Co. Ltd. (A Shares)
 
26,600
337,777
Anker Innovations Technology Co. Ltd. (A Shares) (b)
 
43,700
519,177
Anta Sports Products Ltd.
 
2,155,800
24,405,796
Asia - Potash International Investment Guangzhou Co. Ltd. (A Shares) (b)
 
86,700
212,429
ASR Microelectronics Co. Ltd. (A Shares)
 
38,473
216,713
Asymchem Laboratories Tianjin Co. Ltd. (A Shares)
 
31,900
362,976
Autobio Diagnostics Co. Ltd.
 
54,700
429,547
Autohome, Inc. ADR Class A
 
115,036
2,956,425
Avary Holding Shenzhen Co. Ltd. (A Shares)
 
233,100
773,316
AVIC Capital Co. Ltd. (A Shares)
 
752,300
308,131
AviChina Industry & Technology Co. Ltd. (H Shares)
 
3,941,000
1,694,915
Avicopter PLC (A Shares)
 
52,300
300,207
BAIC BluePark New Energy Technology Co. Ltd. (A Shares) (b)
 
457,600
428,319
Baidu, Inc. Class A (b)
 
3,829,498
49,613,391
Bank of Beijing Co. Ltd. (A Shares)
 
2,303,700
1,773,430
Bank of Changsha Co. Ltd. (A Shares)
 
484,900
545,572
Bank of Chengdu Co. Ltd. (A Shares)
 
328,400
670,002
Bank of China Ltd.:
 
 
 
 (A Shares)
 
5,504,400
3,482,814
 (H Shares)
 
131,602,024
59,022,252
Bank of Communications Co. Ltd.:
 
 
 
 (A Shares)
 
2,985,400
2,831,757
 (H Shares)
 
16,098,200
11,591,657
Bank of Hangzhou Co. Ltd. (A Shares)
 
550,431
980,072
Bank of Jiangsu Co. Ltd. (A Shares)
 
1,707,960
1,904,124
Bank of Nanjing Co. Ltd. (A Shares)
 
1,175,600
1,512,200
Bank of Ningbo Co. Ltd. (A Shares)
 
657,010
2,074,575
Bank of Shanghai Co. Ltd. (A Shares)
 
1,643,000
1,655,337
Bank of Suzhou Co. Ltd.
 
627,300
653,157
Baoshan Iron & Steel Co. Ltd. (A Shares)
 
2,222,000
2,128,011
BeiGene Ltd. (b)
 
1,159,518
13,754,899
Beijing Dabeinong Technology Group Co. Ltd. (A Shares)
 
358,400
231,589
Beijing Enlight Media Co. Ltd. (A Shares)
 
279,600
360,351
Beijing Enterprises Holdings Ltd.
 
833,000
2,666,892
Beijing Enterprises Water Group Ltd.
 
7,064,000
1,781,617
Beijing Kingsoft Office Software, Inc. (A Shares)
 
49,775
2,108,351
Beijing New Building Materials PLC (A Shares)
 
145,400
656,620
Beijing Oriental Yuhong Waterproof Technology Co. Ltd. (A Shares)
 
105,900
213,587
Beijing Roborock Technology Co. Ltd. (A Shares)
 
12,212
713,498
Beijing Tiantan Biological Products Corp. Ltd. (A Shares)
 
154,400
611,440
Beijing Tongrentang Co. Ltd. (A Shares)
 
127,500
743,545
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. (A Shares)
 
78,899
741,255
Beijing Yanjing Brewery Co. Ltd. (A Shares)
 
257,300
351,140
Beijing-Shanghai High Speed Railway Co. Ltd. (A Shares)
 
4,912,600
3,443,421
Beiqi Foton Motor Co. Ltd. (A Shares) (b)
 
677,200
244,935
Bethel Automotive Safety Systems Co. Ltd. (A Shares)
 
57,900
458,659
Bilibili, Inc. Class Z (a)(b)
 
390,024
4,952,596
Bloomage Biotechnology Corp. Ltd. (A Shares)
 
45,651
386,557
BOC Aviation Ltd. Class A (d)
 
359,200
2,856,982
BOC Hong Kong (Holdings) Ltd.
 
6,266,451
19,207,257
BOC International China Co. Ltd.
 
243,200
343,706
BOE Technology Group Co. Ltd. (A Shares)
 
3,560,100
2,136,998
Bosideng International Holdings Ltd.
 
6,574,000
3,805,476
Brilliance China Automotive Holdings Ltd.
 
5,182,000
4,303,057
By-Health Co. Ltd. (A Shares)
 
155,500
339,197
BYD Co. Ltd.:
 
 
 
 (A Shares)
 
356,120
10,692,040
 (H Shares)
 
1,593,000
43,668,246
BYD Electronic International Co. Ltd.
 
1,343,500
4,525,963
C&D International Investment Group Ltd.
 
1,203,327
2,383,692
Caitong Securities Co. Ltd.
 
377,560
398,158
Cambricon Technologies Corp. Ltd. (A Shares) (b)
 
38,724
893,634
Canmax Technologies Co. Ltd. (A Shares)
 
125,290
364,426
Cathay Biotech, Inc. (A Shares) (b)
 
62,032
438,117
CECEP Solar Energy Co. Ltd. (A Shares)
 
320,700
228,106
CGN Power Co. Ltd.:
 
 
 
 (A Shares) (b)
 
1,472,200
834,767
 (H Shares) (d)
 
17,789,000
5,964,796
Changchun High & New Technology Industry Group, Inc. (A Shares)
 
37,500
583,021
Changjiang Securities Co. Ltd. (A Shares)
 
441,300
344,541
Changzhou Xingyu Automotive Lighting Systems Co. Ltd. (A Shares)
 
26,200
478,632
Chaozhou Three-Circle Group Co. (A Shares)
 
177,300
680,668
Chengxin Lithium Group Co. Ltd. (A Shares)
 
138,800
343,028
Chifeng Jilong Gold Mining Co. Ltd. (A Shares) (b)
 
156,200
383,234
China Baoan Group Co. Ltd. (A Shares)
 
225,800
327,033
China Cinda Asset Management Co. Ltd. (H Shares)
 
17,611,000
1,587,047
China CITIC Bank Corp. Ltd.:
 
 
 
 (A Shares)
 
341,500
323,756
 (H Shares)
 
14,667,293
8,580,859
China Coal Energy Co. Ltd. (H Shares)
 
3,389,000
3,413,873
China Communications Services Corp. Ltd. (H Shares)
 
4,022,000
1,922,705
China Construction Bank Corp.:
 
 
 
 (A Shares)
 
4,294,800
4,217,513
 (H Shares)
 
157,597,649
101,964,272
China CSSC Holdings Ltd. (A Shares)
 
534,100
2,683,761
China Eastern Airlines Corp. Ltd. (A Shares) (b)
 
1,486,100
786,250
China Energy Engineering Corp. Ltd. (A Shares)
 
2,723,900
825,974
China Everbright Bank Co. Ltd.:
 
 
 
 (A Shares)
 
5,435,700
2,363,663
 (H Shares)
 
4,326,000
1,310,588
China Feihe Ltd. (d)
 
6,028,000
3,296,508
China Film Co. Ltd. (A Shares) (b)
 
259,400
425,036
China Galaxy Securities Co. Ltd.:
 
 
 
 (A Shares)
 
404,400
691,617
 (H Shares)
 
7,144,500
3,869,941
China Gas Holdings Ltd.
 
4,669,400
4,372,105
China Great Wall Securities Co. Ltd. (A Shares)
 
318,100
335,375
China Greatwall Technology Group Co. Ltd. (A Shares)
 
293,400
393,462
China Hongqiao Group Ltd. (a)
 
4,140,000
5,712,703
China Huishan Dairy Holdings Co. Ltd. (b)(e)
 
958,000
1
China International Capital Corp. Ltd.
 
195,900
898,590
China International Capital Corp. Ltd. (H Shares) (d)
 
2,862,400
3,451,617
China Jushi Co. Ltd. (A Shares)
 
360,740
592,966
China Life Insurance Co. Ltd.:
 
 
 
 (A Shares)
 
359,300
1,514,358
 (H Shares)
 
12,387,000
16,312,728
China Literature Ltd. (b)(d)
 
667,400
2,383,990
China Longyuan Power Grid Corp. Ltd. (H Shares)
 
5,469,000
3,831,217
China Medical System Holdings Ltd.
 
2,343,000
2,091,947
China Mengniu Dairy Co. Ltd.
 
5,319,000
11,018,191
China Merchants Bank Co. Ltd.:
 
 
 
 (A Shares)
 
1,303,400
6,149,950
 (H Shares)
 
7,566,191
32,768,096
China Merchants Energy Shipping Co. Ltd. (A Shares)
 
712,100
837,601
China Merchants Expressway Network & Technology Holdings Co. Ltd. (A Shares) (b)
 
523,500
799,947
China Merchants Holdings International Co. Ltd.
 
2,213,836
2,923,625
China Merchants Securities Co. Ltd. (A Shares)
 
817,700
1,647,066
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares)
 
970,700
1,130,920
China Minmetals Rare Earth Co. Ltd. (A Shares)
 
90,600
349,931
China Minsheng Banking Corp. Ltd.:
 
 
 
 (A Shares)
 
2,506,500
1,366,705
 (H Shares)
 
12,792,832
4,680,659
China National Building Materials Co. Ltd. (H Shares)
 
6,748,000
2,611,057
China National Chemical Engineering Co. Ltd. (A Shares)
 
525,500
499,040
China National Medicines Corp. Ltd. (A Shares)
 
70,900
339,768
China National Nuclear Power Co. Ltd. (A Shares)
 
1,931,300
2,462,270
China National Software & Service Co. Ltd. (A Shares)
 
77,090
320,896
China Northern Rare Earth Group High-Tech Co. Ltd.
 
335,200
890,824
China Oilfield Services Ltd. (H Shares)
 
3,064,000
3,276,356
China Overseas Land and Investment Ltd.
 
6,524,500
11,997,727
China Overseas Property Holdings Ltd. (a)
 
2,255,000
1,371,572
China Pacific Insurance (Group) Co. Ltd.
 
578,700
2,051,199
China Pacific Insurance (Group) Co. Ltd. (H Shares)
 
4,793,400
10,502,717
China Petroleum & Chemical Corp.:
 
 
 
 (A Shares)
 
3,523,200
3,081,022
 (H Shares)
 
41,005,800
24,476,443
China Power International Development Ltd. (a)
 
8,331,699
3,362,140
China Railway Group Ltd.:
 
 
 
 (A Shares)
 
2,481,900
2,241,784
 (H Shares)
 
6,157,000
3,038,226
China Railway Signal & Communications Corp. (A Shares)
 
895,548
666,957
China Resource Gas Group Ltd.
 
1,581,900
4,971,868
China Resources Beer Holdings Co. Ltd.
 
2,730,989
12,448,018
China Resources Land Ltd.
 
5,454,465
19,613,368
China Resources Microelectronics Ltd. (A Shares)
 
122,447
614,835
China Resources Mixc Lifestyle Services Ltd. (d)
 
1,177,200
4,143,467
China Resources Pharmaceutical Group Ltd. (d)
 
2,761,500
1,785,757
China Resources Power Holdings Co. Ltd.
 
3,337,780
8,300,579
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares)
 
91,100
753,871
China Ruyi Holdings Ltd. (a)(b)
 
10,048,000
2,516,750
China Shenhua Energy Co. Ltd.:
 
 
 
 (A Shares)
 
389,800
2,141,114
 (H Shares)
 
6,119,500
25,398,807
China Southern Airlines Ltd.:
 
 
 
 (A Shares) (b)
 
950,300
742,335
 (H Shares) (a)(b)
 
1,968,000
711,576
China State Construction Engineering Corp. Ltd. (A Shares)
 
4,240,140
3,132,053
China State Construction International Holdings Ltd.
 
3,315,750
3,498,457
China Taiping Insurance Group Ltd.
 
2,611,865
2,388,070
China Three Gorges Renewables Group Co. Ltd. (A Shares)
 
3,008,900
1,945,670
China Tourism Group Duty Free Corp. Ltd.:
 
 
 
 (A Shares)
 
308,100
3,161,258
 (H Shares) (a)(d)
 
36,000
317,022
China Tower Corp. Ltd. (H Shares) (d)
 
74,910,000
8,768,916
China United Network Communications Ltd. (A Shares)
 
3,796,800
2,448,678
China Vanke Co. Ltd.:
 
 
 
 (A Shares)
 
827,400
842,221
 (H Shares) (a)
 
4,160,700
2,440,194
China XD Electric Co. Ltd. (A Shares) (b)
 
443,800
430,540
China Yangtze Power Co. Ltd. (A Shares)
 
2,631,700
9,363,554
China Zhenhua (Group) Science & Technology Co. Ltd. (A Shares)
 
48,900
314,348
China Zheshang Bank Co. Ltd.
 
2,006,420
829,548
Chongqing Brewery Co. Ltd. (A Shares)
 
58,200
564,030
Chongqing Changan Automobile Co. Ltd. (A Shares)
 
860,764
1,740,927
Chongqing Rural Commercial Bank Co. Ltd.:
 
 
 
 (A Shares)
 
300,900
192,675
 (H Shares)
 
900,000
385,230
Chongqing Taiji Industry Group Co. Ltd. (A Shares) (b)
 
50,800
254,146
Chongqing Zhifei Biological Products Co. Ltd. (A Shares)
 
261,900
1,264,968
Chow Tai Fook Jewellery Group Ltd.
 
3,345,800
4,552,459
CITIC Pacific Ltd.
 
10,005,000
9,468,756
CITIC Securities Co. Ltd.:
 
 
 
 (A Shares)
 
459,005
1,196,605
 (H Shares)
 
4,077,775
6,492,289
Cmoc Group Ltd.:
 
 
 
 (A Shares)
 
384,300
472,535
 (H Shares)
 
8,415,000
7,895,038
CNGR Advanced Material Co. Ltd.
 
62,300
449,538
CNPC Capital Co. Ltd. (A Shares) (b)
 
885,200
714,961
Contemporary Amperex Technology Co. Ltd.
 
456,360
12,764,474
COSCO Shipping Development Co. Ltd. (A Shares)
 
962,000
326,165
COSCO Shipping Energy Transportation Co. Ltd. (A Shares)
 
1,461,366
3,215,826
COSCO SHIPPING Holdings Co. Ltd.:
 
 
 
 (A Shares)
 
706,470
1,139,141
 (H Shares)
 
5,971,100
7,725,611
Cosco Shipping Ports Ltd.
 
2,252,345
1,382,172
Country Garden Holdings Co. Ltd. (a)(b)
 
20,477,866
1,302,383
Country Garden Services Holdings Co. Ltd.
 
3,535,000
2,358,342
CRRC Corp. Ltd.:
 
 
 
 (A Shares)
 
5,254,900
5,059,832
 (H Shares)
 
2,795,000
1,542,820
CSC Financial Co. Ltd. (A Shares)
 
392,500
1,204,899
CSPC Innovation Pharmaceutical Co. Ltd. (A Shares)
 
138,240
653,995
CSPC Pharmaceutical Group Ltd.
 
15,210,800
12,490,078
CSSC Science & Technology Co. Ltd. (b)
 
160,500
351,792
Daqin Railway Co. Ltd. (A Shares)
 
1,606,200
1,522,695
DaShenLin Pharmaceutical Group Co. Ltd.
 
99,956
299,841
Datang International Power Generation Co. Ltd. (A Shares)
 
873,300
362,857
Dong-E-E-Jiao Co. Ltd. (A Shares)
 
75,800
717,686
Dongfang Electric Corp. Ltd. (A Shares)
 
250,724
582,588
Dongfeng Motor Group Co. Ltd. (H Shares)
 
4,068,000
1,475,231
Dongxing Securities Co. Ltd. (A Shares)
 
241,600
293,115
East Buy Holding Ltd. (a)(b)(d)
 
743,500
1,571,911
East Money Information Co. Ltd. (A Shares)
 
1,579,820
2,833,921
Eastroc Beverage Group Co. Ltd. (b)
 
29,900
877,394
Ecovacs Robotics Co. Ltd. Class A
 
81,700
556,999
Empyrean Technology Co. Ltd. (A Shares) (b)
 
37,500
404,372
ENN Energy Holdings Ltd.
 
1,339,500
11,413,067
ENN Natural Gas Co. Ltd. (A Shares)
 
308,300
768,128
Eoptolink Technology, Inc. Ltd. (A Shares)
 
65,600
769,482
ESR Group Ltd. (d)
 
2,933,191
3,214,396
Eve Energy Co. Ltd. (A shares)
 
189,729
967,653
Everbright Securities Co. Ltd. (A Shares)
 
347,100
790,289
Everdisplay Optronics Shanghai Co. Ltd. (A Shares) (b)
 
1,063,280
324,833
Fangda Carbon New Material Co. Ltd. (A Shares) (b)
 
306,487
214,122
Far East Horizon Ltd.
 
3,172,000
2,354,602
FAW Jiefang Group Co. Ltd. (A Shares) (b)
 
265,700
328,963
First Capital Securities Co. Ltd. (A Shares)
 
329,900
260,624
Flat Glass Group Co. Ltd. (a)
 
463,000
1,115,262
Flat Glass Group Co. Ltd. (A Shares)
 
350,300
1,281,987
Focus Media Information Technology Co. Ltd. (A Shares)
 
1,322,940
1,184,206
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares)
 
458,203
2,474,734
Fosun International Ltd.
 
3,878,000
2,287,988
Founder Securities Co. Ltd. (A Shares)
 
773,000
955,122
Foxconn Industrial Internet Co. Ltd. (A Shares)
 
1,371,694
4,532,384
Fujian Sunner Development Co. Ltd. A Shares
 
106,800
230,438
Fuyao Glass Industries Group Co. Ltd.:
 
 
 
 (A Shares)
 
124,600
856,724
 (H Shares) (d)
 
1,138,400
6,815,673
GalaxyCore, Inc. (A Shares)
 
156,406
356,689
Ganfeng Lithium Group Co. Ltd.:
 
 
 
 (A Shares)
 
275,160
1,334,093
 (H Shares) (a)(d)
 
483,920
1,419,087
GCL Technology Holdings Ltd.
 
36,679,000
5,432,635
GD Power Development Co. Ltd. (A Shares)
 
1,798,400
1,270,910
Geely Automobile Holdings Ltd.
 
10,321,000
12,421,928
GEM Co. Ltd. (A Shares)
 
798,200
765,158
Genscript Biotech Corp. (a)(b)
 
1,942,000
2,863,810
GF Securities Co. Ltd.:
 
 
 
 (A Shares)
 
302,200
549,540
 (H Shares)
 
2,263,400
2,254,893
Giant Biogene Holding Co. Ltd. (d)
 
534,600
3,257,177
Giant Network Group Co. Ltd. (A Shares)
 
181,500
293,408
Gigadevice Semiconductor Beijing, Inc. (A Shares)
 
61,584
664,315
Ginlong Technologies Co. Ltd. (A Shares)
 
36,450
268,393
GoerTek, Inc. (A Shares)
 
318,300
691,179
Goldwind Science & Technology Co. Ltd.:
 
 
 
 (A Shares)
 
98,100
102,995
 (H Shares)
 
783,164
313,151
Goneo Group Co. Ltd. (A Shares)
 
40,735
670,910
GoodWe Technologies Co. Ltd. (A Shares)
 
21,360
273,158
Gotion High-tech Co. Ltd. (A Shares) (b)
 
240,300
620,270
Great Wall Motor Co. Ltd.:
 
 
 
 (A Shares)
 
160,400
578,548
 (H Shares)
 
4,224,000
6,383,066
Gree Electric Appliances, Inc. of Zhuhai (A Shares)
 
353,800
2,052,599
Greenland Holdings Corp. Ltd. (A Shares) (b)
 
1,105,900
280,109
GRG Banking Equipment Co. Ltd. (A Shares)
 
216,000
353,980
Guangdong Haid Group Co. Ltd. (A Shares)
 
151,300
1,041,085
Guangdong HEC Technology Holding Co. Ltd. (A Shares) (b)
 
278,700
340,480
Guangdong Investment Ltd.
 
4,828,000
2,521,980
Guanghui Energy Co. Ltd. (A Shares)
 
564,800
574,169
Guangzhou Automobile Group Co. Ltd.
 
400,600
484,097
Guangzhou Automobile Group Co. Ltd. (H Shares)
 
5,097,526
2,105,912
Guangzhou Baiyun International Airport Co. Ltd. (A Shares) (b)
 
216,200
308,307
Guangzhou Baiyunshan Pharma Health (A Shares)
 
128,200
566,397
Guangzhou Haige Communications Group (A Shares)
 
195,700
293,695
Guangzhou Kingmed Diagnostics Group Co. Ltd. (A Shares)
 
42,400
224,019
Guangzhou Shiyuan Electronic Technology Co. Ltd. (A Shares)
 
91,900
423,155
Guangzhou Tinci Materials Technology Co. Ltd. (A Shares)
 
178,940
516,917
Guangzhou Yuexiu Financial Holdings Group Co. Ltd. (A Shares)
 
383,716
305,641
Guolian Securities Co. Ltd. (b)(e)
 
235,800
340,621
Guosen Securities Co. Ltd. (A Shares)
 
582,400
720,112
Guotai Junan Securities Co. Ltd. (A Shares)
 
675,400
1,278,417
Guoyuan Securities Co. Ltd. (A Shares)
 
410,900
385,563
H World Group Ltd. ADR
 
352,810
12,951,655
Haidilao International Holding Ltd. (d)
 
2,861,000
6,455,012
Haier Smart Home Co. Ltd.
 
4,121,600
15,266,508
Haier Smart Home Co. Ltd. (A Shares)
 
641,100
2,667,181
Hainan Airlines Co. Ltd. (A Shares) (b)
 
3,934,900
742,293
Hainan Airport Infrastructure Co. Ltd. (A Shares) (b)
 
1,031,900
497,681
Haitian International Holdings Ltd.
 
1,047,000
3,409,921
Haitong Securities Co. Ltd.:
 
 
 
 (A Shares)
 
502,500
579,398
 (H Shares)
 
5,935,600
2,834,971
Hanergy Mobile Energy Holding (b)(e)
 
1,902,000
2
Hangzhou Binjiang Real Estate Group Co. Ltd. (A Shares)
 
422,900
391,267
Hangzhou Chang Chuan Technology Co. Ltd.
 
67,100
269,415
Hangzhou First Applied Material Co. Ltd. (A Shares)
 
173,500
648,756
Hangzhou Greatstar Industrial Co. Ltd. (A Shares)
 
106,700
371,849
Hangzhou Oxygen Plant Group Co. Ltd. (A Shares)
 
90,700
341,202
Hangzhou Robam Appliances Co. Ltd. (A Shares)
 
82,800
269,732
Hangzhou Silan Microelectronics Co. Ltd. (A Shares)
 
172,500
454,502
Hangzhou Tigermed Consulting Co. Ltd. (A Shares)
 
36,107
293,278
Hansoh Pharmaceutical Group Co. Ltd. (d)
 
2,026,000
4,476,843
Haohua Chemical Science & Technology Co. Ltd. (A Shares)
 
70,800
303,111
Hebei Yangyuan Zhihui Beverage Co. Ltd. (A Shares) (b)
 
160,240
580,252
Heilongjiang Agriculture Co. Ltd. (A Shares)
 
147,900
266,870
Henan Shenhuo Coal & Power Co. Ltd. (A Shares)
 
201,800
602,269
Henan Shuanghui Investment & Development Co. Ltd. (A Shares)
 
376,800
1,401,116
Hengan International Group Co. Ltd.
 
1,146,000
3,847,318
Hengdian Group DMEGC Magnetics Co. Ltd. (A Shares)
 
152,300
301,950
Hengli Petrochemical Co. Ltd. (A Shares) (b)
 
651,260
1,390,486
Hengtong Optic-electric Co. Ltd. (A Shares)
 
243,200
473,464
Hengyi Petrochemical Co. Ltd. (A Shares) (b)
 
327,310
338,047
Hesteel Co. Ltd. (A Shares)
 
847,900
255,834
Hisense Electric Co. Ltd.
 
114,900
441,767
Hithink RoyalFlush Information Network Co. Ltd. (A Shares)
 
49,900
827,607
HLA Group Corp. Ltd. (A Shares) (b)
 
455,100
571,536
Hongfa Technology Co. Ltd. (A Shares)
 
76,420
300,537
Hoshine Silicon Industry Co. Ltd. (A Shares)
 
72,800
484,872
Hoymiles Power Electronics, Inc. (A Shares)
 
10,423
325,457
Hua Hong Semiconductor Ltd. (a)(d)
 
1,013,000
1,996,324
Huadian Power International Corp. Ltd. (A Shares)
 
776,600
723,909
Huadong Medicine Co. Ltd. (A Shares)
 
161,960
735,722
Huafon Chemical Co. Ltd. (A Shares)
 
442,200
495,860
Huagong Tech Co. Ltd. (A Shares) (b)
 
91,500
418,686
Huaibei Mining Holdings Co. Ltd. (A Shares)
 
207,400
551,732
Hualan Biological Engineer, Inc. (A Shares)
 
169,250
454,369
Huaneng Power International, Inc.:
 
 
 
 (A Shares) (b)
 
1,348,500
1,740,151
 (H Shares) (b)
 
6,416,000
4,083,794
Huatai Securities Co. Ltd.:
 
 
 
 (A Shares)
 
413,900
782,772
 (H Shares) (d)
 
2,688,800
3,179,829
Huaxia Bank Co. Ltd. (A Shares)
 
1,423,964
1,317,929
Huayu Automotive Systems Co. Ltd. (A Shares)
 
273,200
620,317
Hubei Jumpcan Pharmaceutical Co. Ltd. (A Shares)
 
124,100
703,834
Huizhou Desay SV Automotive Co. Ltd.
 
51,500
889,482
Humanwell Healthcare Group Co. Ltd. (A Shares)
 
148,700
414,641
Hunan Valin Steel Co. Ltd. (A Shares)
 
600,200
431,871
Hundsun Technologies, Inc. (A Shares)
 
176,268
497,994
Hwatsing Technology Co. Ltd. (A Shares)
 
16,259
381,283
Hygeia Healthcare Holdings Co. (a)(d)
 
565,800
2,335,302
Hygon Information Technology Co. Ltd. (A Shares)
 
197,616
2,125,189
IEIT Systems Co. Ltd. (A Shares)
 
136,034
758,623
iFlytek Co. Ltd. (A Shares)
 
259,000
1,601,164
IMEIK Technology Development Co. Ltd. (A Shares)
 
28,420
840,689
Industrial & Commercial Bank of China Ltd.:
 
 
 
 (A Shares)
 
10,998,500
8,238,532
 (H Shares)
 
103,216,008
55,347,372
Industrial Bank Co. Ltd. (A Shares)
 
2,108,300
4,897,125
Industrial Securities Co. Ltd. (A Shares)
 
838,270
644,052
Ingenic Semiconductor Co. Ltd. (A Shares)
 
64,800
564,445
Inner Mongoli Yili Industries Co. Ltd. (A Shares)
 
661,900
2,608,479
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) (b)
 
4,104,600
903,803
Inner Mongolia Dian Tou Energy Corp. Ltd.
 
172,700
501,914
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. (A Shares)
 
731,800
424,701
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)
 
1,771,630
3,443,203
Inner Mongolia Yuan Xing Energy Co. Ltd. (A Shares)
 
323,600
320,033
Innovent Biologics, Inc. (b)(d)
 
2,057,000
9,957,864
iQIYI, Inc. ADR (b)
 
723,363
3,508,311
iRay Technology Co. Ltd. (A Shares)
 
9,693
265,560
iSoftStone Information Technology Group Co. Ltd. (A Shares)
 
85,950
494,834
JA Solar Technology Co. Ltd. (A Shares)
 
307,936
603,904
Jason Furniture Hangzhou Co. Ltd. (A Shares)
 
73,430
338,026
JCET Group Co. Ltd. (A Shares)
 
164,000
578,194
JD Health International, Inc. (b)(d)
 
1,912,900
6,524,568
JD Logistics, Inc. (b)(d)
 
3,423,400
3,705,231
JD.com, Inc. Class A
 
3,978,499
57,323,695
Jiangsu Eastern Shenghong Co. Ltd.
 
613,400
838,281
Jiangsu Expressway Co. Ltd. (H Shares)
 
2,102,000
2,061,466
Jiangsu Hengli Hydraulic Co. Ltd.
 
122,832
864,732
Jiangsu Hengrui Medicine Co. Ltd. (A Shares)
 
628,966
3,994,122
Jiangsu King's Luck Brewery JSC Ltd. (A Shares)
 
116,000
917,356
Jiangsu Nhwa Pharmaceutical Co. Ltd. (A Shares) (b)
 
115,700
398,838
Jiangsu Pacific Quartz Co. Ltd. (A Shares)
 
33,500
361,580
Jiangsu Phoenix Publishing & Media Corp. Ltd. (b)
 
230,800
324,209
Jiangsu Yanghe Brewery JSC Ltd. (A Shares)
 
152,100
1,991,064
Jiangsu Yangnong Chemical Co. Ltd. (A Shares)
 
56,650
502,835
Jiangsu Yoke Technology Co. Ltd. (A Shares)
 
43,700
384,431
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. (A Shares)
 
93,900
500,740
Jiangsu Zhongtian Technology Co. Ltd. (A Shares)
 
450,800
841,125
Jiangxi Copper Co. Ltd.:
 
 
 
 (A Shares)
 
16,300
58,446
 (H Shares)
 
2,153,000
4,384,867
Jiangxi Special Electric Motor Co. Ltd. (A Shares) (b)
 
151,500
202,782
Jinduicheng Molybdenum Co. Ltd. (A Shares)
 
290,200
454,006
Jinko Solar Co. Ltd. (A Shares)
 
1,047,970
1,089,258
JiuGui Liquor Co. Ltd. (A Shares)
 
30,400
213,699
Jizhong Energy Resources Co. Ltd. (A Shares)
 
312,500
323,187
Joincare Pharmaceutical Group Industry Co. Ltd. (A Shares)
 
168,000
281,463
Jointown Pharmaceutical Group (A Shares)
 
348,104
393,881
Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd. (A Shares) (b)
 
69,300
281,809
Juneyao Airlines Co. Ltd. (A shares) (b)
 
289,400
490,662
Kangmei Pharmaceutical Co. Ltd. rights (b)(e)
 
9,959
0
Kanzhun Ltd. ADR
 
381,075
7,541,474
KE Holdings, Inc. ADR
 
1,113,926
16,842,561
Keda Industrial Group Co. Ltd.
 
162,400
226,257
Kingboard Chemical Holdings Ltd.
 
1,084,500
2,383,488
Kingdee International Software Group Co. Ltd. (b)
 
4,981,000
5,255,083
Kingnet Network Co. Ltd. (A Shares)
 
195,900
317,438
Kingsoft Corp. Ltd.
 
1,590,600
5,167,834
Kuaishou Technology Class B (b)(d)
 
3,960,700
27,767,317
Kuang-Chi Technologies Co. Ltd. (A Shares) (b)
 
200,400
539,939
Kunlun Energy Co. Ltd.
 
6,708,000
6,502,596
Kunlun Tech Co. Ltd. (A Shares) (b)
 
110,100
600,979
Kweichow Moutai Co. Ltd. (A Shares)
 
128,500
30,128,906
Lb Group Co. Ltd. (A Shares)
 
214,100
618,987
Lenovo Group Ltd.
 
13,630,000
15,330,474
Lens Technology Co. Ltd. (A Shares)
 
455,500
895,391
Lepu Medical Technology Beijing Co. Ltd. (A Shares)
 
226,300
457,282
Li Auto, Inc. Class A (b)
 
1,948,018
25,522,736
Li Ning Co. Ltd.
 
4,020,000
10,523,833
Liaoning Port Co. Ltd. (A Shares)
 
1,825,800
362,770
Lingyi iTech Guangdong Co. (A Shares)
 
643,200
459,976
Livzon Pharmaceutical Group, Inc. (A Shares)
 
94,200
521,029
Longfor Properties Co. Ltd. (d)
 
3,370,783
4,992,621
LONGi Green Energy Technology Co. Ltd.
 
865,566
2,167,447
Luxshare Precision Industry Co. Ltd. (A Shares)
 
704,582
2,824,320
Luzhou Laojiao Co. Ltd. (A Shares)
 
145,400
3,721,805
Mango Excellent Media Co. Ltd. (A Shares)
 
171,894
553,450
Maxscend Microelectronics Co. Ltd. (A Shares)
 
49,716
619,459
Meihua Holdings Group Co. Ltd. (A Shares)
 
238,200
364,788
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) (b)
 
620,364
378,382
Meituan Class B (b)(d)
 
8,611,700
117,588,726
Metallurgical Corp. China Ltd. (A Shares)
 
1,525,600
687,156
MGI Tech Co. Ltd. (A Shares)
 
52,751
424,362
Midea Group Co. Ltd. (A Shares)
 
403,300
3,878,844
Ming Yang Smart Energy Group Ltd. (A Shares)
 
234,500
315,834
MINISO Group Holding Ltd.
 
631,384
3,561,669
Montage Technology Co. Ltd. (A Shares)
 
105,349
731,672
Muyuan Foodstuff Co. Ltd. (A Shares)
 
538,070
3,235,516
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd.
 
161,458
304,703
Nanjing Securities Co. Ltd. (A Shares)
 
474,500
535,805
NARI Technology Co. Ltd. (A Shares)
 
807,440
2,611,570
National Silicon Industry Group Co. Ltd. (A Shares) (b)
 
356,995
651,519
NAURA Technology Group Co. Ltd.
 
59,600
2,609,873
NetEase, Inc.
 
3,282,935
61,537,438
New China Life Insurance Co. Ltd.
 
69,700
301,418
New China Life Insurance Co. Ltd. (H Shares)
 
1,715,400
3,289,725
New Hope Liuhe Co. Ltd. (A Shares) (b)
 
431,900
531,007
New Oriental Education & Technology Group, Inc. (b)
 
2,513,530
19,972,423
Ninestar Corp. (A Shares)
 
128,800
448,120
Ningbo Deye Technology Co. Ltd. (A Shares)
 
39,740
511,388
Ningbo Joyson Electronic Corp. (A shares)
 
122,900
297,053
Ningbo Orient Wires & Cables Co. Ltd. (A Shares)
 
63,000
383,002
Ningbo Sanxing Medical Electric Co. Ltd. (b)
 
205,300
947,820
Ningbo Shanshan Co. Ltd. (A Shares)
 
202,700
330,470
Ningbo Tuopu Group Co. Ltd. (A Shares)
 
132,000
1,135,871
Ningxia Baofeng Energy Group Co. Ltd.
 
672,700
1,537,738
NIO, Inc. sponsored ADR (a)(b)
 
2,300,699
10,859,299
Nongfu Spring Co. Ltd. (H Shares) (d)
 
3,396,200
19,952,403
Offcn Education Technology Co. A Shares (b)
 
778,500
284,223
Offshore Oil Enginering Co. Ltd. (A Shares)
 
358,900
314,522
OFILM Group Co. Ltd. (A Shares) (b)
 
323,200
389,638
Oppein Home Group, Inc. (A Shares)
 
68,600
589,077
Orient Securities Co. Ltd. (A Shares)
 
900,472
1,034,577
Oriental Pearl Group Co. Ltd. (b)
 
581,100
552,304
Pangang Group Vanadium Titanium & Resources Co. Ltd. (A Shares) (b)
 
865,600
370,205
PDD Holdings, Inc. ADR (b)
 
1,014,164
126,953,050
People's Insurance Co. of China Group Ltd.:
 
 
 
 (A Shares)
 
3,664,800
2,644,591
 (H Shares)
 
9,742,000
3,197,571
People.cn Co. Ltd. (A Shares) (b)
 
102,000
347,603
Perfect World Co. Ltd. (A Shares)
 
186,450
256,712
PetroChina Co. Ltd.:
 
 
 
 (A Shares)
 
1,264,500
1,784,014
 (H Shares)
 
37,282,000
34,737,188
Pharmaron Beijing Co. Ltd.:
 
 
 
 (A Shares)
 
25
68
 (H Shares) (d)
 
317,500
389,195
PICC Property & Casualty Co. Ltd. (H Shares)
 
11,738,001
14,583,096
Ping An Bank Co. Ltd. (A Shares)
 
1,996,900
2,968,070
Ping An Insurance Group Co. of China Ltd.:
 
 
 
 (A Shares)
 
1,462,777
8,315,244
 (H Shares)
 
10,850,000
49,173,104
Piotech, Inc. (A Shares)
 
17,480
434,714
Poly Developments & Holdings (A Shares)
 
1,098,800
1,348,202
Pop Mart International Group Ltd. (d)
 
823,600
3,524,540
Postal Savings Bank of China Co. Ltd.
 
2,545,500
1,684,602
Postal Savings Bank of China Co. Ltd. (H Shares) (d)
 
14,077,000
7,294,036
Power Construction Corp. of China Ltd. (A Shares)
 
1,519,639
1,063,325
Prosus NV (a)
 
2,481,562
83,032,941
Qi An Xin Technology Group, Inc. (A Shares) (b)
 
61,242
260,332
Qifu Technology, Inc. ADR
 
210,882
3,857,032
Qinghai Salt Lake Potash Co. Ltd. Class A (b)
 
496,200
1,133,542
Range Intelligent Computing Technology Group Co. Ltd. (A Shares)
 
143,300
616,827
Risen Energy Co. Ltd. (A Shares)
 
151,200
270,095
Rockchip Electronics Co. Ltd.
 
40,000
316,375
Rongsheng Petrochemical Co. Ltd. (A Shares)
 
941,650
1,454,447
SAIC Motor Corp. Ltd. (A Shares)
 
828,300
1,696,057
Sailun Group Co. Ltd. A Shares
 
275,000
628,523
Sanan Optoelectronics Co. Ltd. (A Shares)
 
464,300
800,076
Sangfor Technologies, Inc. (b)
 
37,400
281,743
Sany Heavy Equipment International Holdings Co. Ltd. (a)
 
1,923,000
1,351,256
Sany Heavy Industry Co. Ltd. (A Shares)
 
1,203,800
2,705,038
Satellite Chemical Co. Ltd. (A Shares) (b)
 
307,101
815,672
SDIC Capital Co. Ltd.
 
531,500
468,342
SDIC Power Holdings Co. Ltd. (A Shares)
 
671,200
1,473,983
Seazen Holdings Co. Ltd. (A Shares) (b)
 
303,500
411,138
Seres Group Co. Ltd. (A Shares) (b)
 
158,000
1,969,353
SF Holding Co. Ltd. (A Shares)
 
486,800
2,428,264
SG Micro Corp. (A Shares)
 
43,557
460,042
Shaanxi Coal Industry Co. Ltd. (A Shares)
 
970,300
3,286,212
Shan Xi Hua Yang Group New Energy Co. Ltd.
 
307,650
400,982
Shandong Gold Mining Co. Ltd.:
 
 
 
 (A Shares)
 
623,523
2,465,509
 (H Shares) (d)
 
744,250
1,608,179
Shandong Himile Mechanical Science & Technology Co. Ltd. (A Shares) (b)
 
71,000
389,590
Shandong Hualu Hengsheng Chemical Co. Ltd. (A Shares)
 
194,500
798,365
Shandong Linglong Tyre Co. Ltd. (A Shares)
 
202,900
625,210
Shandong Nanshan Aluminum Co. Ltd. (A Shares)
 
1,009,900
497,635
Shandong Sun Paper Industry JSC Ltd. (A Shares)
 
236,300
507,333
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)
 
4,199,200
2,847,679
Shanghai Aiko Solar Energy Co. Ltd. (A Shares)
 
169,280
279,026
Shanghai Bairun Investment Holding Group Co. Ltd. (A Shares)
 
148,144
415,931
Shanghai Baosight Software Co. Ltd.
 
1,611,176
3,441,924
Shanghai Baosight Software Co. Ltd. (A Shares)
 
12,362
69,840
Shanghai Construction Group Co. Ltd. (A Shares)
 
1,042,233
344,477
Shanghai Electric Group Co. Ltd. (A Shares) (b)
 
1,118,000
663,586
Shanghai Electric Power Co. Ltd. (A Shares)
 
242,800
307,354
Shanghai Fosun Pharmaceutical (Group) Co. Ltd.:
 
 
 
 (A Shares)
 
58,600
191,305
 (H Shares) (a)
 
1,197,000
1,879,127
Shanghai Friendess Electronic Technology Corp. Ltd. (A Shares)
 
13,788
615,998
Shanghai International Airport Co. Ltd. (A Shares) (b)
 
109,172
566,303
Shanghai International Port Group Co. Ltd. (A Shares)
 
743,900
576,213
Shanghai Jinjiang International Hotels Co. Ltd. (A Shares)
 
81,900
325,792
Shanghai Junshi Biosciences Co. Ltd. (A Shares) (b)
 
71,882
297,937
Shanghai Lingang Holdings Corp. Ltd. (A Shares)
 
224,360
326,721
Shanghai M&G Stationery, Inc. (A Shares)
 
81,600
397,497
Shanghai Moons' Electric Co. Ltd. (A Shares) (b)
 
38,400
296,038
Shanghai Pharmaceuticals Holding Co. Ltd.:
 
 
 
 (A Shares)
 
800,800
1,979,596
 (H Shares)
 
369,400
524,940
Shanghai Pudong Development Bank Co. Ltd. (A Shares)
 
3,022,800
3,204,530
Shanghai Putailai New Energy Technology Co. Ltd.
 
186,751
475,034
Shanghai RAAS Blood Products Co. Ltd. (A Shares)
 
658,400
651,145
Shanghai Rural Commercial Bank Co. Ltd. (A Shares)
 
1,212,500
1,131,005
Shanghai United Imaging Healthcare Co. Ltd. (A Shares) (b)
 
81,170
1,483,094
Shanghai Yuyuan Tourist Mart Group Co. Ltd.
 
391,800
320,197
Shanghai Zhangjiang High Ltd. (A Shares) (b)
 
152,000
385,343
Shanxi Coal International Energy Group Co. Ltd. (A Shares) (b)
 
192,600
380,305
Shanxi Lu'an Environmental Energy Development Co. Ltd. (A Shares)
 
368,200
1,073,609
Shanxi Meijin Energy Co. Ltd. (A Shares) (b)
 
531,700
444,516
Shanxi Taigang Stainless Steel Co. Ltd. (A Shares)
 
507,700
270,200
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares)
 
120,060
4,324,186
Shanxi Xishan Coal & Electricity Power Co. Ltd. (A Shares)
 
512,980
742,271
Shede Spirits Co. Ltd. (A Shares)
 
31,000
310,930
Shenergy Co. Ltd. (A Shares)
 
440,800
516,995
Shengyi Technology Co. Ltd.
 
216,100
576,258
Shennan Circuits Co. Ltd. (A Shares)
 
59,940
768,845
Shenwan Hongyuan Group Co. Ltd. (A Shares)
 
2,339,415
1,513,933
Shenzhen Capchem Technology Co. Ltd. (A Shares)
 
98,420
456,152
Shenzhen Energy Group Co. Ltd. (A Shares)
 
384,398
383,300
Shenzhen Goodix Technology Co. Ltd. (A Shares) (b)
 
46,300
390,749
Shenzhen Inovance Technology Co. Ltd. (A Shares)
 
131,000
1,074,326
Shenzhen Kaifa Technology Co. Ltd. (A Shares)
 
236,100
448,035
Shenzhen Kangtai Biological Products Co. Ltd.
 
104,080
289,787
Shenzhen Kedali Industry Co. Ltd.
 
36,900
484,830
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares)
 
131,800
5,534,258
Shenzhen New Industries Biomedical Engineering Co. Ltd.
 
72,900
710,547
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) (b)
 
657,000
238,742
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares)
 
100,900
443,267
Shenzhen SC New Energy Technology Corp. (A Shares)
 
40,300
381,066
Shenzhen Sed Industry Co. Ltd. (A Shares)
 
104,300
252,052
Shenzhen Transsion Holdings Co. Ltd. (A Shares)
 
89,379
1,770,146
Shenzhen YUTO Packaging Technology Co. Ltd. (A Shares)
 
79,300
292,305
Shenzhou International Group Holdings Ltd.
 
1,407,600
13,835,599
Shijiazhuang Yiling Pharmaceutical Co. Ltd. (A Shares)
 
168,960
438,401
Sichuan Changhong Electric Co. Ltd. (A Shares)
 
461,100
352,989
Sichuan Chuantou Energy Co. Ltd. (A Shares)
 
392,500
900,662
Sichuan Hebang Biotechnology Co. Ltd. (A Shares)
 
901,300
260,944
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares)
 
134,600
630,293
Sichuan Road & Bridge (Group) Co. Ltd. (A Shares)
 
598,500
598,859
Sichuan Swellfun Co. Ltd. (A Shares)
 
45,200
280,294
Sieyuan Electric Co. Ltd. (A Shares)
 
73,300
657,709
Silergy Corp.
 
555,000
7,357,920
Sinolink Securities Co. Ltd. (A Shares)
 
377,000
453,843
Sinoma International Engineering Co. Ltd. (A Shares)
 
244,200
427,132
Sinoma Science & Technology Co. Ltd. (A Shares)
 
240,300
513,942
Sinomine Resource Group Co. Ltd. (A Shares)
 
91,328
446,666
Sinopharm Group Co. Ltd. (H Shares)
 
2,299,600
5,807,323
Sinotruk Hong Kong Ltd.
 
1,130,000
2,812,243
SITC International Holdings Co. Ltd.
 
2,301,000
4,989,938
SKSHU Paint Co. Ltd. (A Shares)
 
48,612
227,534
Smoore International Holdings Ltd. (a)(d)
 
2,989,000
2,603,166
Songcheng Performance Development Co. Ltd. (A Shares)
 
225,152
336,810
Soochow Securities Co. Ltd. (A Shares)
 
433,225
407,920
Southwest Securities Co. Ltd. (A Shares)
 
582,900
318,402
Spring Airlines Co. Ltd. (A Shares) (b)
 
109,700
858,097
StarPower Semiconductor Ltd. (A Shares)
 
20,000
382,703
Sungrow Power Supply Co. Ltd. (A Shares)
 
167,000
2,371,715
Sunny Optical Technology Group Co. Ltd.
 
1,192,800
5,770,434
Sunresin New Materials Co. Ltd. (A Shares)
 
47,200
303,601
Sunwoda Electronic Co. Ltd. (A Shares)
 
162,600
340,418
SUPCON Technology Co. Ltd. (A Shares)
 
89,360
585,752
Suzhou Dongshan Precision Manufacturing Co. Ltd. (A Shares)
 
156,500
330,846
Suzhou Maxwell Technologies Co. Ltd. (A Shares)
 
25,868
408,391
Suzhou TFC Optical Communication Co. Ltd. (A Shares)
 
36,500
799,712
TAL Education Group ADR (b)
 
742,253
8,936,726
TBEA Co. Ltd. (A Shares)
 
443,750
864,092
TCL Technology Group Corp. (A Shares)
 
1,682,520
1,106,119
TCL Zhonghuan Renewable Energy Technology Co. Ltd. (A Shares)
 
375,200
538,505
Tencent Holdings Ltd.
 
11,224,000
492,545,041
Tencent Music Entertainment Group ADR (b)
 
1,277,295
16,030,052
Thunder Software Technology Co. Ltd. (A Shares)
 
51,700
346,454
Tianfeng Securities Co. Ltd. (A Shares) (b)
 
905,600
363,392
Tianjin 712 Communication & Broadcasting Co. Ltd.
 
113,600
346,340
Tianma Microelectronics Co. Ltd. (A Shares) (b)
 
218,000
243,477
Tianqi Lithium Corp. (A Shares)
 
135,500
734,876
Tianshan Aluminum Group Co. Ltd.
 
419,900
436,816
Tianshui Huatian Technology Co. Ltd. (A Shares)
 
288,900
325,087
Tingyi (Cayman Islands) Holding Corp.
 
3,456,000
3,814,378
Tongcheng Travel Holdings Ltd.
 
2,115,200
5,566,951
TongFu Microelectronics Co. Ltd. (A Shares)
 
138,900
395,586
Tongkun Group Co. Ltd. (A Shares) (b)
 
229,300
435,028
Tongling Nonferrous Metals Group Co. Ltd. (A Shares)
 
1,451,800
805,009
Tongwei Co. Ltd. (A Shares)
 
522,000
1,560,120
Topchoice Medical Corp. (b)
 
29,700
248,697
Topsports International Holdings Ltd. (d)
 
3,036,000
2,108,425
TravelSky Technology Ltd. (H Shares)
 
1,606,000
2,086,246
Trina Solar Co. Ltd. (A Shares)
 
202,669
593,062
Trip.com Group Ltd. (b)
 
932,593
45,424,141
Tsinghua Tongfang Co. Ltd. (A Shares) (b)
 
344,800
287,683
Tsingtao Brewery Co. Ltd.:
 
 
 
 (A Shares) (b)
 
57,300
646,743
 (H Shares)
 
1,098,000
7,912,629
Unigroup Guoxin Microelectronics Co. Ltd. (b)
 
79,359
635,733
Unisplendour Corp. Ltd. (A Shares) (b)
 
265,180
758,981
Universal Scientific Industrial Shanghai Co. Ltd. (A Shares)
 
232,100
472,389
Verisilicon Microelectronics Shanghai Co. Ltd. (A Shares) (b)
 
59,848
270,706
Vipshop Holdings Ltd. ADR
 
589,901
8,872,111
Walvax Biotechnology Co. Ltd. (A Shares)
 
150,900
305,636
Wanda Film Holding Co. Ltd. (A Shares) (b)
 
190,200
383,184
Wanhua Chemical Group Co. Ltd. (A Shares)
 
316,000
3,871,418
Want Want China Holdings Ltd.
 
7,772,000
4,432,773
Weichai Power Co. Ltd.:
 
 
 
 (A Shares)
 
257,700
618,257
 (H Shares)
 
3,822,800
7,811,367
Weihai Guangwei Composites Co. Ltd. (A Shares)
 
77,560
278,107
Wens Foodstuffs Group Co. Ltd. (A Shares)
 
664,420
1,745,816
Western Mining Co. Ltd. (A Shares)
 
344,900
951,057
Western Securities Co. Ltd. (A Shares)
 
499,740
509,156
Western Superconducting Technologies Co. Ltd. (A Shares)
 
78,064
426,201
Wharf Holdings Ltd.
 
1,803,000
5,800,896
Will Semiconductor Ltd.
 
134,215
1,875,490
Wilmar International Ltd.
 
3,259,480
7,661,647
Wingtech Technology Co. Ltd. (A Shares) (b)
 
115,700
500,189
Wintime Energy Group Co. Ltd. (A Shares) (b)
 
1,893,800
352,466
Wuchan Zhongda Group Co. Ltd.
 
515,800
335,433
Wuhan Guide Infrared Co. Ltd. (A Shares)
 
405,243
391,175
Wuliangye Yibin Co. Ltd. (A Shares)
 
421,300
8,712,972
WUS Printed Circuit Kunshan Co. Ltd. (A Shares)
 
176,240
801,535
WuXi AppTec Co. Ltd.
 
178,796
1,074,418
WuXi AppTec Co. Ltd. (H Shares) (d)
 
684,074
3,079,078
Wuxi Biologics (Cayman), Inc. (b)(d)
 
6,461,500
11,193,495
XCMG Construction Machinery Co. Ltd. (A Shares)
 
1,057,300
1,023,234
Xiamen C&D, Inc. (A Shares)
 
250,800
343,815
Xiamen Faratronic Co. Ltd. (A Shares)
 
21,000
285,119
Xiamen Tungsten Co. Ltd. (A Shares)
 
130,200
343,330
Xiaomi Corp. Class B (b)(d)
 
26,115,600
56,930,114
Xinjiang Daqo New Energy Co. Ltd. (A Shares) (b)
 
164,580
554,682
Xinyi Solar Holdings Ltd.
 
8,325,450
5,728,460
XPeng, Inc. Class A (a)(b)
 
1,953,464
7,919,658
Yadea Group Holdings Ltd. (d)
 
2,098,000
4,035,863
Yangzhou Yangjie Electronic Technology Co. Ltd. (A Shares)
 
64,800
338,544
Yankuang Energy Group Co. Ltd.:
 
 
 
 (A Shares)
 
105,000
334,499
 (H Shares)
 
4,317,000
9,365,179
Yantai Jereh Oilfield Services (A Shares)
 
88,800
389,503
Yealink Network Technology Corp. Ltd.
 
117,050
569,461
Yifeng Pharmacy Chain Co. Ltd.
 
89,940
544,033
Yihai Kerry Arawana Holdings Co. Ltd. (A Shares)
 
166,300
719,119
Yintai Gold Co. Ltd. (A Shares)
 
355,980
903,091
Yonghui Superstores Co. Ltd. (A Shares) (b)
 
827,900
277,088
YongXing Special Materials Technology Co. Ltd. (A Shares)
 
69,620
454,623
Yonyou Network Technology Co. Ltd. (A Shares)
 
310,420
496,628
Youngor Fashion Co. Ltd. (A Shares)
 
718,977
774,872
YTO Express Group Co. Ltd. (A Shares)
 
442,100
967,154
Yuexiu Property Co. Ltd.
 
2,701,920
1,612,559
Yum China Holdings, Inc.
 
690,652
25,215,705
Yunda Holding Co. Ltd. (A Shares)
 
252,250
272,533
Yunnan Aluminium Co. Ltd. (A Shares)
 
459,900
907,525
Yunnan Baiyao Group Co. Ltd. (A Shares)
 
165,820
1,308,332
Yunnan Botanee Bio-Technology Group Co., Ltd. (A Shares)
 
49,700
391,026
Yunnan Chihong Zinc & Germanium Co. Ltd. (A Shares) (b)
 
463,900
365,723
Yunnan Energy New Material Co. Ltd.
 
90,800
520,538
Yunnan Tin Co. Ltd. (A Shares)
 
157,100
356,248
Yunnan Yuntianhua Co. Ltd. (Series A)
 
160,100
446,355
Yutong Bus Co. Ltd. (b)
 
192,900
681,047
Zai Lab Ltd. (a)(b)
 
1,551,100
2,493,100
Zangge Mining Co. Ltd. (Series A)
 
143,700
569,443
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares)
 
70,100
2,294,731
Zhaojin Mining Industry Co. Ltd. (H Shares)
 
2,287,000
3,683,056
Zhejiang Century Huatong Group Co. Ltd. (A Shares) (b)
 
921,100
593,627
Zhejiang China Commodities City Group Co. Ltd. (A Shares)
 
589,700
711,818
Zhejiang Chint Electric Co. Ltd. (A Shares)
 
185,400
527,391
Zhejiang Dahua Technology Co. Ltd. (A Shares)
 
308,600
761,994
Zhejiang Dingli Machinery Co. Ltd. (A Shares)
 
44,240
399,719
Zhejiang Expressway Co. Ltd. (H Shares)
 
2,866,920
1,874,481
Zhejiang Huahai Pharmaceutical Co. Ltd. (A Shares)
 
133,880
309,458
Zhejiang Huayou Cobalt Co. Ltd. (A Shares)
 
148,600
581,242
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. (A Shares)
 
122,000
569,335
Zhejiang Juhua Co. Ltd. (A Shares)
 
249,800
814,928
Zhejiang Leapmotor Technology Co. Ltd. (H Shares) (a)(b)(d)
 
825,200
2,835,425
Zhejiang Longsheng Group Co. Ltd. (A Shares)
 
305,900
385,769
Zhejiang NHU Co. Ltd. (A Shares)
 
284,508
752,768
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares)
 
165,600
499,918
Zhejiang Supor Cookware Co. Ltd.
 
46,000
373,209
Zhejiang Weiming Enviroment Protection Co. Ltd. (A Shares)
 
208,520
632,381
Zhejiang Weixing New Building Materials Co. Ltd. (A Shares)
 
131,100
317,392
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) (b)
 
1,006,000
864,269
Zheshang Securities Co. Ltd.
 
325,800
506,226
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (b)(d)
 
1,128,400
1,897,882
Zhongji Innolight Co. Ltd. (A Shares)
 
84,000
2,117,394
Zhongjin Gold Co. Ltd. (A Shares)
 
447,200
805,112
Zhongsheng Group Holdings Ltd. Class H
 
1,358,000
2,476,701
Zhongtai Securities Co. Ltd. (A Shares)
 
607,800
557,306
Zhuzhou CRRC Times Electric Co. Ltd.:
 
 
 
 (A Shares)
 
25,415
166,995
 (H Shares)
 
981,700
3,518,429
Zijin Mining Group Co. Ltd.:
 
 
 
 (A Shares)
 
689,400
1,659,798
 (H Shares)
 
10,815,000
23,592,614
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares)
 
832,200
975,418
ZTE Corp.:
 
 
 
 (A Shares)
 
229,100
900,295
 (H Shares)
 
1,795,536
3,870,011
ZTO Express, Inc. sponsored ADR
 
715,245
15,012,993
TOTAL CHINA
 
 
3,360,266,326
Colombia - 0.0%
 
 
 
Bancolombia SA
 
433,509
3,735,051
Interconexion Electrica SA ESP
 
747,224
3,447,554
TOTAL COLOMBIA
 
 
7,182,605
Czech Republic - 0.0%
 
 
 
CEZ A/S
 
274,011
10,114,453
Komercni Banka A/S
 
130,010
4,796,247
MONETA Money Bank A/S (d)
 
596,207
2,405,652
TOTAL CZECH REPUBLIC
 
 
17,316,352
Denmark - 2.3%
 
 
 
A.P. Moller - Maersk A/S:
 
 
 
 Series A
 
4,169
5,941,313
 Series B
 
7,850
11,445,506
Carlsberg A/S Series B
 
167,120
22,479,790
Coloplast A/S Series B
 
214,059
25,808,061
Danske Bank A/S
 
1,170,544
33,832,204
Demant A/S (b)
 
169,234
8,145,819
DSV A/S
 
297,236
42,436,160
Genmab A/S (b)
 
112,179
31,144,269
Novo Nordisk A/S Series B
 
5,535,125
709,837,219
Novonesis (NOVOZYMES) B Series B
 
633,322
35,214,258
ORSTED A/S (b)(d)
 
321,026
17,716,626
Pandora A/S
 
143,528
21,963,856
Rockwool International A/S Series B
 
15,707
5,160,078
Svitzer A/S
 
24,038
807,756
Tryg A/S
 
587,987
11,652,220
Vestas Wind Systems A/S (b)
 
1,713,713
46,196,616
TOTAL DENMARK
 
 
1,029,781,751
Egypt - 0.0%
 
 
 
Commercial International Bank SAE
 
4,298,946
6,459,649
Eastern Co. SAE
 
1,788,454
822,278
EFG Holding SAE
 
1,685,559
521,343
TOTAL EGYPT
 
 
7,803,270
Finland - 0.6%
 
 
 
Elisa Corp. (A Shares)
 
242,135
10,935,762
Fortum Corp.
 
763,100
10,082,028
Kesko Oyj
 
465,734
7,967,412
Kone OYJ (B Shares)
 
576,649
28,185,312
Metso Corp.
 
1,118,699
12,744,622
Neste OYJ
 
718,663
16,366,866
Nokia Corp.
 
9,043,412
32,875,984
Nordea Bank Abp (Helsinki Stock Exchange)
 
5,386,872
63,124,748
Orion Oyj (B Shares)
 
183,978
7,027,056
Sampo Oyj (A Shares)
 
765,822
30,991,456
Stora Enso Oyj (R Shares)
 
991,549
13,280,173
UPM-Kymmene Corp.
 
906,391
31,843,532
Wartsila Corp.
 
803,897
14,893,472
TOTAL FINLAND
 
 
280,318,423
France - 6.5%
 
 
 
Accor SA
 
318,740
14,051,982
Adevinta ASA Class B (a)(b)
 
584,741
5,969,269
Aeroports de Paris SA
 
58,448
7,453,897
Air Liquide SA
 
609,639
119,232,353
Air Liquide SA
 
233,700
45,706,723
Airbus Group NV
 
1,005,617
165,482,085
Alstom SA (a)
 
487,972
7,694,375
Amundi SA (d)
 
104,481
7,331,265
Arkema SA
 
102,487
10,614,759
AXA SA
 
3,079,205
106,601,979
bioMerieux SA
 
70,183
7,489,930
BNP Paribas SA
 
1,751,688
126,054,716
Bollore SA
 
1,208,631
7,868,091
Bouygues SA
 
322,503
11,911,904
Bureau Veritas SA
 
538,890
15,769,336
Capgemini SA
 
263,601
55,403,941
Carrefour SA
 
964,556
16,226,942
Compagnie de St.-Gobain
 
773,132
61,141,296
Compagnie Generale des Etablissements Michelin SCA Series B
 
1,151,993
44,258,015
Covivio
 
86,746
4,338,080
Covivio rights (b)(c)
 
86,746
305,499
Credit Agricole SA
 
1,811,823
28,034,762
Danone SA
 
1,092,865
68,399,494
Dassault Aviation SA
 
34,464
7,400,132
Dassault Systemes SA
 
1,133,798
44,503,753
Edenred SA
 
423,673
20,102,315
Eiffage SA
 
124,103
13,284,005
Engie SA
 
863,500
14,990,892
Engie SA
 
2,232,503
38,757,628
EssilorLuxottica SA
 
500,296
107,210,311
Eurazeo SA
 
70,797
6,407,027
Eurazeo SA
 
19,800
1,791,872
Gecina SA
 
78,449
8,037,194
Getlink SE
 
607,696
10,376,531
Hermes International SCA
 
53,709
129,023,370
Ipsen SA
 
64,206
7,818,205
Kering SA
 
126,302
44,480,533
Klepierre SA
 
360,998
9,731,594
L'Oreal SA
 
384,294
180,308,624
L'Oreal SA
 
23,733
11,135,393
La Francaise des Jeux SAEM (d)
 
178,879
6,769,302
Legrand SA (a)
 
448,527
46,093,590
LVMH Moet Hennessy Louis Vuitton SE
 
468,325
384,699,172
Orange SA
 
3,159,534
35,166,511
Pernod Ricard SA
 
346,923
52,573,544
Publicis Groupe SA
 
388,226
42,839,485
Remy Cointreau SA
 
39,303
3,728,665
Renault SA
 
324,601
16,191,399
Rexel SA
 
383,370
9,995,106
Safran SA
 
579,875
125,735,467
Sartorius Stedim Biotech
 
49,619
10,749,540
SEB SA
 
42,193
5,007,155
Societe Generale Series A (a)
 
1,226,665
33,052,549
Sodexo SA
 
141,027
12,303,703
Sodexo SA
 
8,142
710,337
Teleperformance
 
96,289
8,783,892
Thales SA
 
160,615
27,073,946
TotalEnergies SE
 
3,683,321
267,404,396
Unibail-Rodamco-Westfield NV
 
200,667
16,806,635
Veolia Environnement SA
 
1,168,514
36,326,396
VINCI SA
 
849,146
99,499,581
Vivendi SA
 
1,128,545
11,521,130
Worldline SA (b)(d)
 
400,326
4,188,542
TOTAL FRANCE
 
 
2,849,920,115
Germany - 5.1%
 
 
 
adidas AG
 
274,934
66,427,926
Allianz SE
 
664,356
188,534,191
BASF AG
 
1,515,169
79,483,063
Bayer AG
 
1,666,873
48,652,556
Bayerische Motoren Werke AG (BMW)
 
541,474
59,201,865
Bechtle AG
 
139,257
6,732,263
Beiersdorf AG
 
171,023
25,652,588
Brenntag SE
 
225,436
18,010,216
Carl Zeiss Meditec AG
 
68,474
7,241,777
Commerzbank AG
 
1,790,766
26,679,033
Continental AG
 
185,399
12,037,669
Covestro AG (b)(d)
 
321,431
16,115,604
Daimler Truck Holding AG
 
907,253
40,965,405
Deutsche Bank AG
 
3,287,868
52,667,279
Deutsche Borse AG
 
322,267
62,130,496
Deutsche Lufthansa AG
 
1,014,855
7,271,620
Deutsche Telekom AG
 
5,495,246
125,871,720
DHL Group
 
1,681,456
70,402,449
E.ON SE
 
3,804,101
50,340,734
Evonik Industries AG
 
397,734
8,296,104
Fresenius Medical Care AG & Co. KGaA
 
301,986
12,714,429
Fresenius Medical Care AG & Co. KGaA sponsored ADR
 
93,838
1,974,352
Fresenius SE & Co. KGaA
 
717,822
21,426,688
GEA Group AG
 
276,424
11,180,488
Hannover Reuck SE
 
102,416
25,400,938
HeidelbergCement AG
 
221,411
22,362,469
Henkel AG & Co. KGaA
 
172,216
12,383,794
Infineon Technologies AG
 
2,214,674
76,855,886
Knorr-Bremse AG
 
122,755
9,109,100
LEG Immobilien AG
 
124,898
10,652,628
Mercedes-Benz Group AG (Germany)
 
1,361,030
102,949,495
Merck KGaA
 
219,232
34,848,996
MTU Aero Engines AG
 
91,413
22,106,179
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
231,527
101,848,691
Nemetschek SE
 
97,456
8,689,621
Puma AG
 
178,185
8,226,979
Rational AG
 
8,655
7,426,239
Rheinmetall AG
 
73,989
40,838,661
RWE AG
 
1,074,257
37,422,301
SAP SE
 
1,771,225
319,824,871
Scout24 AG (d)
 
127,059
9,369,778
Siemens AG
 
1,289,031
241,478,779
Siemens Energy AG (b)
 
874,678
18,015,708
Siemens Healthineers AG (d)
 
478,488
26,535,723
Symrise AG
 
225,666
24,251,657
Talanx AG
 
108,512
8,187,343
Volkswagen AG
 
51,696
7,298,080
Vonovia SE
 
1,243,621
35,935,703
Zalando SE (b)(d)
 
380,166
9,947,142
TOTAL GERMANY
 
 
2,241,977,276
Greece - 0.1%
 
 
 
Alpha Bank SA (b)
 
3,810,532
6,476,060
Eurobank Ergasias Services and Holdings SA (b)
 
4,403,745
9,446,350
Ff Group (b)(e)
 
7,962
0
Hellenic Telecommunications Organization SA
 
315,692
4,811,025
Jumbo SA
 
197,399
6,147,182
Motor Oil (HELLAS) Corinth Refineries SA
 
112,393
3,257,728
Mytilineos SA
 
169,617
6,914,783
National Bank of Greece SA (b)
 
1,314,421
10,604,791
OPAP SA
 
308,183
5,134,018
Piraeus Financial Holdings SA (b)
 
1,803,284
7,223,868
Public Power Corp. of Greece (b)
 
358,221
4,296,978
TOTAL GREECE
 
 
64,312,783
Hong Kong - 1.1%
 
 
 
AIA Group Ltd.
 
19,276,009
141,184,392
CK Asset Holdings Ltd.
 
3,300,639
14,079,127
CK Infrastructure Holdings Ltd.
 
1,069,631
6,042,495
CLP Holdings Ltd.
 
2,789,976
21,946,126
Futu Holdings Ltd. ADR (b)
 
94,309
6,065,012
Hang Lung Properties Ltd.
 
2,991,125
3,301,343
Hang Seng Bank Ltd.
 
1,302,153
17,170,945
Henderson Land Development Co. Ltd.
 
2,471,869
7,452,249
HKT Trust/HKT Ltd. unit
 
6,471,479
7,144,370
Hong Kong & China Gas Co. Ltd.
 
18,952,350
14,410,462
Hong Kong Exchanges and Clearing Ltd.
 
2,044,484
64,962,306
Hongkong Land Holdings Ltd.
 
1,877,445
5,998,775
Jardine Matheson Holdings Ltd.
 
270,264
10,342,774
Link (REIT)
 
4,349,409
18,636,326
MTR Corp. Ltd.
 
2,614,620
8,592,788
Orient Overseas International Ltd.
 
221,000
3,223,291
Power Assets Holdings Ltd.
 
2,358,426
13,528,297
Prudential PLC
 
4,667,256
40,592,761
Sino Biopharmaceutical Ltd.
 
17,642,000
6,028,249
Sino Land Ltd.
 
6,524,596
6,976,096
Sun Hung Kai Properties Ltd.
 
2,457,422
22,669,619
Swire Pacific Ltd. (A Shares)
 
727,060
6,157,260
Swire Properties Ltd.
 
2,025,920
4,189,942
Techtronic Industries Co. Ltd.
 
2,334,870
32,266,274
WH Group Ltd. (d)
 
14,181,743
10,307,860
Wharf Real Estate Investment Co. Ltd.
 
2,841,349
8,815,322
TOTAL HONG KONG
 
 
502,084,461
Hungary - 0.1%
 
 
 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
763,071
6,262,225
OTP Bank PLC
 
379,746
18,843,512
Richter Gedeon PLC
 
236,098
6,012,242
TOTAL HUNGARY
 
 
31,117,979
India - 5.0%
 
 
 
ABB India Ltd.
 
89,627
7,016,069
Adani Enterprises Ltd.
 
290,111
10,597,702
Adani Green Energy Ltd. (b)
 
537,901
11,555,477
Adani Ports & Special Economic Zone Ltd.
 
896,120
14,192,327
Adani Power Ltd. (b)
 
1,297,251
9,486,461
Ambuja Cements Ltd.
 
996,706
7,386,969
APL Apollo Tubes Ltd.
 
282,219
5,254,661
Apollo Hospitals Enterprise Ltd.
 
169,556
12,056,248
Ashok Leyland Ltd.
 
2,457,973
5,658,908
Asian Paints Ltd.
 
651,797
22,414,090
Astral Ltd.
 
227,603
5,758,821
AU Small Finance Bank Ltd. (d)
 
288,765
2,187,257
Aurobindo Pharma Ltd.
 
449,657
6,203,995
Avenue Supermarts Ltd. (b)(d)
 
276,293
15,241,509
Axis Bank Ltd.
 
3,873,186
54,046,924
Bajaj Auto Ltd.
 
112,317
11,987,306
Bajaj Finance Ltd.
 
471,968
39,139,649
Bajaj Finserv Ltd.
 
650,476
12,561,941
Bajaj Holdings & Investment Ltd.
 
45,249
4,394,238
Balkrishna Industries Ltd.
 
132,607
3,851,957
Bandhan Bank Ltd. (d)
 
1,361,525
3,064,315
Bank of Baroda
 
1,749,480
5,880,634
Berger Paints India Ltd.
 
498,708
3,036,987
Bharat Electronics Ltd.
 
6,161,609
17,225,257
Bharat Forge Ltd.
 
436,714
6,643,235
Bharat Heavy Electricals Ltd.
 
1,768,998
5,948,729
Bharat Petroleum Corp. Ltd.
 
1,292,735
9,404,016
Bharti Airtel Ltd.
 
3,818,104
60,418,386
Britannia Industries Ltd.
 
183,062
10,459,970
Cg Power & Industrial Soluti
 
1,018,287
6,740,604
Cholamandalam Investment and Finance Co. Ltd.
 
715,353
10,208,161
Cipla Ltd./India (b)
 
891,601
14,921,416
Coal India Ltd.
 
2,622,736
14,255,618
Colgate-Palmolive Ltd.
 
228,232
7,721,543
Container Corp. of India Ltd.
 
413,914
5,082,617
Cummins India Ltd.
 
235,965
9,236,337
Dabur India Ltd.
 
1,057,307
6,424,593
Divi's Laboratories Ltd.
 
201,819
9,660,801
DLF Ltd.
 
1,261,374
13,435,634
Dr. Reddy's Laboratories Ltd.
 
198,470
14,723,799
Eicher Motors Ltd.
 
231,973
12,767,324
GAIL India Ltd.
 
3,919,278
9,788,036
GMR Airports Infrastructure Ltd. (b)
 
4,076,047
4,144,524
Godrej Consumer Products Ltd.
 
695,919
10,153,674
Godrej Properties Ltd. (b)
 
213,216
6,737,079
Grasim Industries Ltd.
 
443,859
12,794,212
Havells India Ltd.
 
427,486
8,505,644
HCL Technologies Ltd.
 
1,608,753
26,239,327
HDFC Asset Management Co. Ltd. (d)
 
161,787
7,540,196
HDFC Bank Ltd.
 
4,765,637
86,522,166
HDFC Standard Life Insurance Co. Ltd. (d)
 
1,646,607
11,490,127
Hero Motocorp Ltd.
 
202,498
10,986,858
Hindalco Industries Ltd.
 
2,272,918
17,475,522
Hindustan Aeronautics Ltd.
 
341,364
16,104,933
Hindustan Petroleum Corp. Ltd.
 
967,359
5,736,475
Hindustan Unilever Ltd.
 
1,394,422
37,230,410
ICICI Bank Ltd.
 
8,805,862
121,301,010
ICICI Lombard General Insurance Co. Ltd. (d)
 
406,571
8,307,117
ICICI Prudential Life Insurance Co. Ltd. (d)
 
616,563
4,219,673
IDFC Bank Ltd. (b)
 
5,875,421
5,764,738
Indian Oil Corp. Ltd.
 
4,751,188
9,591,743
Indian Railway Catering & Tourism Corp. Ltd.
 
401,767
4,987,445
Indraprastha Gas Ltd.
 
539,448
3,025,647
IndusInd Bank Ltd.
 
491,062
8,900,638
Info Edge India Ltd.
 
120,641
8,722,724
Infosys Ltd.
 
5,307,802
89,594,204
Infosys Ltd. sponsored ADR (a)
 
326,978
5,463,802
InterGlobe Aviation Ltd. (b)(d)
 
294,640
14,045,605
ITC Ltd.
 
5,079,527
26,478,318
Jindal Steel & Power Ltd.
 
596,766
6,625,820
Jio Financial Services Ltd.
 
4,853,725
21,850,831
JSW Steel Ltd.
 
1,041,069
10,965,527
Jubilant Foodworks Ltd.
 
680,439
3,768,614
Kotak Mahindra Bank Ltd.
 
1,855,547
36,053,028
Larsen & Toubro Ltd.
 
1,142,944
49,116,525
Ltimindtree Ltd. (d)
 
150,275
8,437,930
Lupin Ltd.
 
384,575
7,570,143
Macrotech Developers Ltd. (d)
 
406,085
6,013,415
Mahindra & Mahindra Ltd.
 
1,583,334
40,828,735
Marico Ltd.
 
864,549
5,363,649
Maruti Suzuki India Ltd.
 
240,161
36,834,854
Max Healthcare Institute Ltd.
 
1,309,789
13,158,258
Mphasis BFL Ltd.
 
129,645
3,579,625
MRF Ltd.
 
3,940
6,269,770
Muthoot Finance Ltd.
 
207,399
4,264,907
Nestle India Ltd.
 
574,129
17,229,020
NMDC Ltd.
 
1,736,363
5,267,795
NTPC Ltd.
 
7,418,749
32,232,237
Oil & Natural Gas Corp. Ltd.
 
5,347,286
18,045,999
One97 Communications Ltd. (b)
 
431,860
1,924,293
Page Industries Ltd.
 
10,214
4,250,720
Persistent Systems Ltd.
 
169,010
6,797,001
Petronet LNG Ltd.
 
1,267,662
4,703,972
PI Industries Ltd.
 
139,509
6,095,516
Pidilite Industries Ltd.
 
260,507
9,499,105
Polycab India Ltd.
 
76,944
5,219,982
Power Finance Corp. Ltd.
 
2,522,956
13,295,353
Power Grid Corp. of India Ltd.
 
7,894,996
28,467,394
Punjab National Bank
 
3,714,376
6,262,549
REC Ltd.
 
2,237,309
13,549,085
Reliance Industries Ltd.
 
5,164,822
181,255,702
Samvardhana Motherson International Ltd.
 
4,038,568
6,323,039
SBI Cards & Payment Services Ltd.
 
485,436
4,226,254
SBI Life Insurance Co. Ltd. (d)
 
766,550
13,184,284
Shree Cement Ltd.
 
15,345
4,491,263
Shriram Finance Ltd.
 
474,934
14,486,168
Siemens Ltd.
 
150,361
10,502,515
Sona Blw Precision Forgings Ltd. (d)
 
700,355
5,233,606
SRF Ltd.
 
253,449
7,936,708
State Bank of India
 
3,029,100
29,912,801
Sun Pharmaceutical Industries Ltd.
 
1,628,607
29,249,880
Supreme Industries Ltd.
 
108,291
6,556,757
Suzlon Energy Ltd. (b)
 
14,866,082
7,364,590
Tata Communications Ltd.
 
194,585
4,026,202
Tata Consultancy Services Ltd.
 
1,534,084
69,995,858
Tata Consumer Products Ltd.
 
973,731
12,890,735
Tata Elxsi Ltd.
 
58,599
4,945,767
Tata Motors Ltd.
 
2,826,233
34,072,020
Tata Motors Ltd. Class A
 
768,401
6,265,963
Tata Power Co. Ltd./The
 
2,445,139
13,118,738
Tata Steel Ltd.
 
12,544,655
24,720,785
Tech Mahindra Ltd.
 
907,372
13,664,499
The Indian Hotels Co. Ltd.
 
1,452,222
10,004,290
Titan Co. Ltd.
 
602,708
25,853,229
Torrent Pharmaceuticals Ltd.
 
172,195
5,437,979
Trent Ltd.
 
307,849
16,245,160
Tube Investments of India Ltd.
 
179,252
8,038,710
Tvs Motor Co. Ltd.
 
401,082
9,872,801
Ultratech Cement Ltd.
 
196,257
23,399,819
Union Bank of India Ltd.
 
2,503,790
4,613,901
United Spirits Ltd.
 
495,837
6,973,296
UPL Ltd.
 
747,279
4,533,961
Varun Beverages Ltd.
 
772,290
13,657,777
Vedanta Ltd.
 
1,579,546
7,536,494
Wipro Ltd.
 
2,201,897
12,122,669
Yes Bank Ltd. (b)
 
22,026,257
6,887,092
Zomato Ltd. (b)
 
10,357,810
23,898,274
TOTAL INDIA
 
 
2,207,145,570
Indonesia - 0.5%
 
 
 
Amman Mineral Internasional PT
 
10,987,600
6,542,679
PT Adaro Energy Indonesia Tbk
 
24,206,200
4,023,016
PT Aneka Tambang Tbk
 
14,416,000
1,449,097
PT Astra International Tbk
 
34,502,200
10,887,357
PT Bank Central Asia Tbk
 
94,166,300
56,620,747
PT Bank Mandiri (Persero) Tbk
 
63,430,700
26,810,708
PT Bank Negara Indonesia (Persero) Tbk
 
25,379,278
8,165,455
PT Bank Rakyat Indonesia (Persero) Tbk
 
115,800,500
35,053,225
PT Barito Pacific Tbk
 
46,719,826
2,919,644
PT Charoen Pokphand Indonesia Tbk
 
12,461,000
3,791,212
PT GoTo Gojek Tokopedia Tbk (b)
 
1,419,635,868
5,460,311
PT Indah Kiat Pulp & Paper Tbk
 
4,029,000
2,318,920
PT Indofood CBP Sukses Makmur Tbk
 
3,863,800
2,582,636
PT Indofood Sukses Makmur Tbk
 
7,319,000
2,810,527
PT Kalbe Farma Tbk
 
36,286,100
3,221,027
PT Merdeka Copper Gold Tbk (b)
 
15,733,290
2,533,943
PT Sarana Menara Nusantara Tbk
 
35,803,600
1,768,958
PT Semen Indonesia (Persero) Tbk
 
5,499,496
1,577,509
PT Sumber Alfaria Trijaya Tbk
 
32,010,100
5,756,981
PT Surya Citra Media Tbk
 
35
0
PT Telkom Indonesia Persero Tbk
 
84,229,400
16,328,585
PT Unilever Indonesia Tbk
 
13,111,800
2,111,629
PT United Tractors Tbk
 
2,530,812
3,857,200
TOTAL INDONESIA
 
 
206,591,366
Ireland - 0.3%
 
 
 
AerCap Holdings NV (b)
 
339,868
28,715,447
AIB Group PLC
 
2,650,534
13,764,210
Bank of Ireland Group PLC
 
1,795,612
19,249,004
Kerry Group PLC Class A
 
268,621
23,163,124
Kingspan Group PLC (Ireland)
 
264,169
23,639,089
Smurfit Kappa Group PLC
 
442,798
19,256,577
TOTAL IRELAND
 
 
127,787,451
Israel - 0.4%
 
 
 
Azrieli Group
 
71,375
4,618,253
Bank Hapoalim BM (Reg.)
 
2,158,217
19,530,749
Bank Leumi le-Israel BM
 
2,585,798
20,248,789
Check Point Software Technologies Ltd. (b)
 
158,913
23,744,780
Elbit Systems Ltd. (Israel)
 
44,857
9,159,261
Global-e Online Ltd. (a)(b)
 
166,070
5,568,327
Icl Group Ltd.
 
1,305,635
6,148,434
Israel Discount Bank Ltd. (Class A)
 
2,103,793
10,840,439
Mizrahi Tefahot Bank Ltd.
 
263,662
9,632,808
NICE Ltd. (b)
 
87,503
19,583,609
NICE Ltd. sponsored ADR (b)
 
20,317
4,541,053
Teva Pharmaceutical Industries Ltd. sponsored ADR (b)
 
1,902,547
26,730,785
Wix.com Ltd. (b)
 
92,678
11,016,634
TOTAL ISRAEL
 
 
171,363,921
Italy - 1.5%
 
 
 
Amplifon SpA
 
210,489
7,060,242
Assicurazioni Generali SpA
 
1,716,435
41,947,749
Banco BPM SpA (a)
 
2,042,325
13,478,456
Coca-Cola HBC AG
 
373,738
12,095,412
Davide Campari Milano NV
 
1,045,752
10,512,970
DiaSorin SpA
 
37,685
3,818,243
Enel SpA
 
13,782,108
90,582,062
Eni SpA
 
3,725,500
59,837,832
Ferrari NV (Italy)
 
213,805
88,348,468
FinecoBank SpA
 
1,031,503
15,895,841
Infrastrutture Wireless Italiane SpA (d)
 
570,855
6,140,902
Intesa Sanpaolo SpA
 
24,805,194
92,845,940
Leonardo SpA
 
688,247
15,887,174
Mediobanca SpA
 
867,114
12,353,877
Moncler SpA
 
349,517
23,917,051
Nexi SpA (b)(d)
 
1,002,559
5,861,082
Poste Italiane SpA (d)
 
774,754
9,855,664
Prysmian SpA
 
446,451
24,384,839
Recordati SpA
 
177,116
9,460,361
Snam SpA
 
3,415,933
15,628,825
Telecom Italia SpA (a)(b)
 
8,540,002
2,031,486
Telecom Italia SpA (Risparmio Shares) (b)
 
7,564,311
1,867,200
Terna - Rete Elettrica Nazionale
 
2,385,247
19,152,610
UniCredit SpA
 
2,614,137
95,950,233
TOTAL ITALY
 
 
678,914,519
Japan - 14.5%
 
 
 
Advantest Corp.
 
1,299,728
40,682,361
AEON Co. Ltd.
 
1,110,778
23,224,477
AGC, Inc.
 
332,096
12,278,999
Aisin Seiki Co. Ltd.
 
250,501
9,528,120
Ajinomoto Co., Inc.
 
796,915
29,630,474
Ana Holdings, Inc.
 
260,951
4,955,985
Asahi Group Holdings
 
817,417
27,963,005
ASAHI INTECC Co. Ltd.
 
370,049
5,422,211
Asahi Kasei Corp.
 
2,117,625
14,764,367
Astellas Pharma, Inc.
 
3,072,665
29,491,137
Azbil Corp.
 
205,382
5,736,319
Bandai Namco Holdings, Inc.
 
1,011,694
18,903,683
Bridgestone Corp.
 
967,995
42,714,726
Brother Industries Ltd.
 
395,775
7,000,852
Canon, Inc.
 
1,658,128
44,877,717
Canon, Inc. sponsored ADR (a)
 
39,199
1,056,021
Capcom Co. Ltd.
 
584,200
9,617,357
Central Japan Railway Co.
 
1,311,690
29,995,707
Chiba Bank Ltd.
 
895,494
7,564,298
Chubu Electric Power Co., Inc.
 
1,086,195
13,942,360
Chugai Pharmaceutical Co. Ltd.
 
1,139,424
36,238,093
Concordia Financial Group Ltd.
 
1,789,988
9,644,700
Dai Nippon Printing Co. Ltd.
 
344,621
10,037,475
Dai-ichi Mutual Life Insurance Co.
 
1,595,991
36,964,816
Daifuku Co. Ltd.
 
515,927
10,568,148
Daiichi Sankyo Kabushiki Kaisha
 
3,137,496
105,600,935
Daikin Industries Ltd.
 
447,482
61,077,414
Daito Trust Construction Co. Ltd.
 
99,321
10,646,654
Daiwa House Industry Co. Ltd.
 
1,005,508
28,293,903
Daiwa Securities Group, Inc.
 
2,267,451
16,663,634
DENSO Corp.
 
3,207,200
54,660,703
Dentsu Group, Inc.
 
341,822
9,247,373
Disco Corp.
 
156,287
44,517,691
East Japan Railway Co.
 
1,541,643
28,256,729
Eisai Co. Ltd.
 
426,197
17,503,510
ENEOS Holdings, Inc.
 
4,897,364
22,626,874
FANUC Corp.
 
1,616,325
47,874,412
Fast Retailing Co. Ltd.
 
296,989
77,653,437
Fuji Electric Co. Ltd.
 
213,904
13,305,670
FUJIFILM Holdings Corp.
 
1,899,444
40,405,899
Fujitsu Ltd.
 
2,986,580
46,137,146
GLP J-REIT
 
7,947
6,463,392
Hamamatsu Photonics K.K.
 
238,846
8,751,717
Hankyu Hanshin Holdings, Inc.
 
389,780
10,219,344
Hikari Tsushin, Inc.
 
34,570
5,618,381
Hirose Electric Co. Ltd. (a)
 
50,068
5,314,510
Hitachi Construction Machinery Co. Ltd.
 
183,171
5,231,782
Hitachi Ltd.
 
1,572,609
145,090,001
Honda Motor Co. Ltd.
 
7,835,358
89,147,424
Hoshizaki Corp.
 
184,906
6,371,624
Hoya Corp.
 
595,382
69,028,485
Hulic Co. Ltd.
 
651,572
6,004,012
Ibiden Co. Ltd.
 
191,540
7,281,108
Idemitsu Kosan Co. Ltd.
 
1,645,135
11,145,987
Iida Group Holdings Co. Ltd.
 
262,578
3,352,048
INPEX Corp.
 
1,650,412
24,722,845
Isuzu Motors Ltd.
 
983,092
12,458,582
Itochu Corp.
 
2,015,771
90,941,050
Japan Airlines Co. Ltd.
 
245,126
4,343,331
Japan Exchange Group, Inc.
 
852,894
19,975,226
Japan Post Bank Co. Ltd.
 
2,454,240
24,911,299
Japan Post Holdings Co. Ltd.
 
3,522,846
33,830,949
Japan Post Insurance Co. Ltd.
 
325,042
6,102,365
Japan Real Estate Investment Corp.
 
2,179
7,389,299
Japan Retail Fund Investment Corp.
 
11,788
7,116,753
Japan Tobacco, Inc.
 
2,034,126
54,721,276
JFE Holdings, Inc.
 
979,690
14,622,584
Kajima Corp.
 
719,578
13,785,017
Kansai Electric Power Co., Inc.
 
1,196,799
17,927,357
Kao Corp.
 
790,526
32,610,959
Kawasaki Kisen Kaisha Ltd.
 
663,300
9,345,823
KDDI Corp.
 
2,538,907
70,451,614
KDX Realty Investment Corp.
 
7,055
6,958,610
Keisei Electric Railway Co.
 
234,642
8,741,107
Keyence Corp.
 
329,929
145,092,830
Kikkoman Corp.
 
1,154,240
13,753,241
Kintetsu Group Holdings Co. Ltd.
 
304,664
7,832,482
Kirin Holdings Co. Ltd.
 
1,317,920
19,238,464
Kobe Bussan Co. Ltd.
 
253,872
5,482,945
Koito Manufacturing Co. Ltd.
 
343,030
4,614,008
Komatsu Ltd.
 
1,569,064
46,846,207
Konami Group Corp. (a)
 
169,336
10,217,280
Kubota Corp.
 
1,696,367
27,209,279
Kyocera Corp.
 
2,177,424
26,539,846
Kyowa Hakko Kirin Co., Ltd.
 
455,221
7,644,915
Lasertec Corp.
 
127,995
27,609,217
LY Corp.
 
4,501,749
10,816,056
M3, Inc.
 
747,802
7,910,385
Makita Corp.
 
380,768
11,023,576
Marubeni Corp.
 
2,429,145
43,278,529
MatsukiyoCocokara & Co.
 
584,100
8,282,966
Mazda Motor Corp.
 
966,509
10,940,375
McDonald's Holdings Co. (Japan) Ltd. (a)
 
147,045
6,468,317
Meiji Holdings Co. Ltd.
 
400,312
8,956,732
Minebea Mitsumi, Inc.
 
611,500
11,453,612
Misumi Group, Inc.
 
484,014
7,869,032
Mitsubishi Chemical Holdings Corp.
 
2,164,284
12,626,147
Mitsubishi Corp.
 
5,851,603
133,823,712
Mitsubishi Electric Corp.
 
3,279,297
57,157,906
Mitsubishi Estate Co. Ltd.
 
1,909,612
34,993,095
Mitsubishi Heavy Industries Ltd.
 
5,439,280
48,633,239
Mitsubishi UFJ Financial Group, Inc.
 
18,834,918
187,621,335
Mitsubishi UFJ Lease & Finance Co. Ltd.
 
1,370,716
8,876,822
Mitsui & Co. Ltd.
 
2,195,046
105,967,371
Mitsui Chemicals, Inc.
 
290,371
8,264,804
Mitsui Fudosan Co. Ltd.
 
4,529,430
46,096,295
Mitsui OSK Lines Ltd.
 
580,800
18,434,352
Mizuho Financial Group, Inc.
 
4,092,932
79,112,723
MonotaRO Co. Ltd.
 
426,808
5,115,243
MS&AD Insurance Group Holdings, Inc.
 
2,183,145
39,250,863
Murata Manufacturing Co. Ltd.
 
2,922,583
53,401,942
NEC Corp.
 
416,863
30,181,712
Nexon Co. Ltd.
 
577,859
9,009,601
Nidec Corp.
 
708,756
33,193,075
Nintendo Co. Ltd.
 
1,762,590
85,959,759
Nippon Building Fund, Inc.
 
2,602
9,941,707
Nippon Express Holdings, Inc.
 
124,185
6,353,094
Nippon Paint Holdings Co. Ltd.
 
1,596,630
10,220,056
Nippon Prologis REIT, Inc.
 
3,845
6,634,963
Nippon Sanso Holdings Corp.
 
294,786
8,755,855
Nippon Steel & Sumitomo Metal Corp.
 
1,452,099
32,554,495
Nippon Telegraph & Telephone Corp.
 
50,636,275
54,670,083
Nippon Yusen KK (a)
 
780,733
22,165,375
Nissan Chemical Corp.
 
212,684
7,250,011
Nissan Motor Co. Ltd.
 
4,059,625
14,857,022
Nissin Food Holdings Co. Ltd.
 
338,215
9,025,455
Nitori Holdings Co. Ltd.
 
136,042
18,206,919
Nitto Denko Corp.
 
244,050
20,179,444
Nomura Holdings, Inc.
 
5,105,365
29,049,458
Nomura Real Estate Holdings, Inc.
 
184,718
5,171,575
Nomura Real Estate Master Fund, Inc.
 
6,769
6,470,626
Nomura Research Institute Ltd.
 
655,680
15,866,078
NTT Data Corp.
 
1,071,556
16,756,801
Obayashi Corp.
 
1,102,985
12,310,191
OBIC Co. Ltd.
 
118,352
15,204,273
Odakyu Electric Railway Co. Ltd.
 
528,939
5,946,694
Olympus Corp.
 
2,042,863
28,456,514
OMRON Corp.
 
295,777
10,151,776
Ono Pharmaceutical Co. Ltd.
 
615,945
8,871,683
Oracle Corp. Japan
 
65,703
4,930,655
Oriental Land Co. Ltd.
 
1,850,440
51,056,852
ORIX Corp.
 
1,990,054
40,727,284
Osaka Gas Co. Ltd.
 
636,918
14,162,436
Otsuka Corp.
 
385,864
7,674,112
Otsuka Holdings Co. Ltd.
 
710,303
30,370,326
Pan Pacific International Holdings Ltd.
 
647,191
15,199,946
Panasonic Holdings Corp.
 
3,745,793
32,694,989
Rakuten Group, Inc. (b)
 
2,547,260
12,250,908
Recruit Holdings Co. Ltd.
 
2,445,083
105,303,269
Renesas Electronics Corp.
 
2,491,583
40,452,724
Resona Holdings, Inc.
 
3,611,589
22,838,780
Ricoh Co. Ltd.
 
933,638
8,054,549
ROHM Co. Ltd.
 
559,080
8,036,693
SBI Holdings, Inc. Japan
 
423,065
10,300,847
Screen Holdings Co. Ltd.
 
138,000
14,238,446
SCSK Corp.
 
261,433
4,752,643
Secom Co. Ltd.
 
356,559
24,767,480
Seiko Epson Corp.
 
491,109
8,078,737
Sekisui Chemical Co. Ltd.
 
640,039
9,311,317
Sekisui House Ltd.
 
1,010,203
23,214,825
Seven & i Holdings Co. Ltd.
 
3,834,716
49,549,135
SG Holdings Co. Ltd.
 
544,849
6,377,508
Sharp Corp. (b)
 
423,611
2,223,604
Shimadzu Corp.
 
401,977
10,920,937
SHIMANO, Inc.
 
130,190
21,157,570
SHIMIZU Corp.
 
887,381
5,496,845
Shin-Etsu Chemical Co. Ltd.
 
3,055,985
118,293,940
Shionogi & Co. Ltd.
 
417,694
19,506,632
Shiseido Co. Ltd.
 
679,275
18,183,008
Shizuoka Financial Group
 
790,218
7,375,774
SMC Corp.
 
97,155
51,041,999
SoftBank Corp.
 
4,878,927
58,848,084
SoftBank Group Corp.
 
1,745,544
85,846,897
Sompo Holdings, Inc.
 
1,513,362
29,949,633
Sony Group Corp.
 
2,139,020
176,792,932
Square Enix Holdings Co. Ltd.
 
146,638
5,300,546
Subaru Corp.
 
1,024,478
22,875,561
Sumco Corp.
 
595,529
8,881,313
Sumitomo Corp.
 
1,762,669
46,353,203
Sumitomo Electric Industries Ltd.
 
1,212,603
18,742,379
Sumitomo Metal Mining Co. Ltd.
 
416,932
13,929,132
Sumitomo Mitsui Financial Group, Inc.
 
2,155,472
122,439,030
Sumitomo Mitsui Trust Holdings, Inc.
 
1,113,714
23,415,651
Sumitomo Realty & Development Co. Ltd.
 
484,779
16,775,254
Suntory Beverage & Food Ltd.
 
234,303
7,623,108
Suzuki Motor Corp.
 
2,668,128
31,072,447
Sysmex Corp.
 
849,087
13,577,220
T&D Holdings, Inc.
 
829,053
13,527,933
Taisei Corp.
 
289,202
10,587,805
Takeda Pharmaceutical Co. Ltd.
 
2,683,820
70,536,349
TDK Corp.
 
659,587
29,424,833
Terumo Corp.
 
2,283,448
38,736,712
TIS, Inc.
 
372,767
7,961,027
Tobu Railway Co. Ltd.
 
317,493
6,299,213
Toho Co. Ltd.
 
190,605
6,385,719
Tokio Marine Holdings, Inc.
 
3,057,324
96,630,992
Tokyo Electric Power Co., Inc. (b)
 
2,570,526
15,989,389
Tokyo Electron Ltd.
 
799,958
175,467,521
Tokyo Gas Co. Ltd.
 
627,539
14,073,985
Tokyu Corp.
 
852,275
10,088,856
Toppan Holdings, Inc.
 
388,377
9,213,840
Toray Industries, Inc.
 
2,356,819
10,772,365
Toto Ltd.
 
241,217
6,528,417
Toyota Industries Corp.
 
248,743
23,637,269
Toyota Motor Corp.
 
17,986,630
410,249,772
Toyota Tsusho Corp.
 
360,495
22,920,251
Trend Micro, Inc.
 
225,545
11,114,454
Unicharm Corp.
 
684,397
20,335,591
USS Co. Ltd.
 
700,292
5,349,737
West Japan Railway Co.
 
747,360
14,185,973
Yakult Honsha Co. Ltd.
 
437,336
8,554,182
Yamaha Corp.
 
225,461
4,751,183
Yamaha Motor Co. Ltd.
 
1,508,317
14,068,409
Yamato Holdings Co. Ltd.
 
452,329
5,973,767
Yaskawa Electric Corp.
 
404,989
16,686,611
Yokogawa Electric Corp.
 
388,100
8,575,383
Zensho Holdings Co. Ltd.
 
162,600
6,302,247
ZOZO, Inc.
 
231,463
4,985,361
TOTAL JAPAN
 
 
6,370,003,997
Jordan - 0.0%
 
 
 
Hikma Pharmaceuticals PLC
 
281,764
6,773,985
Korea (South) - 3.2%
 
 
 
AMOREPACIFIC Corp.
 
46,828
5,691,667
Celltrion Pharm, Inc.
 
31,546
2,171,568
Celltrion, Inc.
 
258,903
35,056,575
CJ CheilJedang Corp.
 
14,094
3,406,639
Cosmo AM&T Co. Ltd. (b)
 
40,867
4,401,217
Coway Co. Ltd.
 
93,761
3,746,153
Db Insurance Co. Ltd.
 
78,205
5,470,325
Delivery Hero AG (b)(d)
 
300,060
8,394,941
Doosan Bobcat, Inc.
 
93,547
3,486,526
Doosan Heavy Industries & Construction Co. Ltd. (b)
 
769,291
9,262,711
Ecopro BM Co. Ltd.
 
82,980
14,065,843
Ecopro Co. Ltd. (a)
 
169,485
12,775,398
Ecopro Materials Co. Ltd.
 
23,313
1,925,602
EUSU Holdings Co. Ltd.
 
6
24
GS Holdings Corp.
 
78,874
2,542,996
Hana Financial Group, Inc.
 
496,063
20,863,784
Hanjin Kal Corp.
 
45,598
1,951,506
Hanjin Shipping Co. Ltd. (b)(e)
 
12
0
Hankook Tire Co. Ltd.
 
126,572
5,355,707
Hanmi Pharm Co. Ltd.
 
12,231
2,778,459
Hanmi Semiconductor Co. Ltd.
 
74,365
7,061,710
Hanon Systems
 
292,176
1,166,849
Hanwha Aerospace Co. Ltd.
 
60,227
9,122,669
Hanwha Ocean Co. Ltd. (b)
 
131,372
3,016,561
Hanwha Solutions Corp.
 
190,194
3,451,880
HD Hyundai Co. Ltd.
 
74,157
3,580,109
HD Hyundai Heavy Industries Co. Ltd. (b)
 
37,627
3,710,900
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (b)
 
72,448
6,821,134
HLB, Inc.
 
197,467
15,733,458
HMM Co. Ltd.
 
407,897
4,643,976
HYBE Co. Ltd.
 
34,958
5,056,684
Hyundai Engineering & Construction Co. Ltd.
 
132,854
3,375,007
Hyundai Glovis Co. Ltd.
 
31,519
4,114,608
Hyundai Mobis
 
102,961
16,797,193
Hyundai Motor Co. Ltd.
 
228,143
40,922,554
Hyundai Steel Co.
 
147,337
3,411,722
Industrial Bank of Korea
 
479,073
4,802,893
Kakao Corp.
 
528,346
18,297,496
Kakao Pay Corp. (b)
 
45,801
1,151,021
KakaoBank Corp.
 
278,051
4,973,115
Kangwon Land, Inc.
 
162,556
1,791,240
KB Financial Group, Inc.
 
650,298
35,171,434
Kia Corp.
 
443,309
37,453,156
Korea Aerospace Industries Ltd.
 
125,525
4,660,848
Korea Electric Power Corp. (b)
 
433,555
6,600,233
Korea Investment Holdings Co. Ltd.
 
71,017
3,422,895
Korea Zinc Co. Ltd.
 
14,162
4,704,358
Korean Air Lines Co. Ltd.
 
319,028
4,797,530
KRAFTON, Inc. (b)
 
49,116
8,429,529
KT Corp.
 
109,329
2,725,786
KT&G Corp.
 
170,004
10,923,676
Kum Yang Co. Ltd. (b)
 
59,050
3,951,045
Kumho Petro Chemical Co. Ltd.
 
27,304
2,708,121
L&F Co. Ltd.
 
43,128
5,030,990
LG Chemical Ltd.
 
82,794
23,724,122
LG Corp.
 
159,672
9,085,052
LG Display Co. Ltd. (b)
 
647,230
4,885,203
LG Electronics, Inc.
 
179,892
11,947,648
LG Energy Solution (b)
 
79,365
22,019,035
LG H & H Co. Ltd.
 
15,323
4,604,018
LG Innotek Co. Ltd.
 
24,094
3,819,087
LG Uplus Corp.
 
383,731
2,717,821
Lotte Chemical Corp.
 
32,272
2,486,915
Meritz Financial Holdings Co.
 
172,977
9,862,699
Mirae Asset Securities Co. Ltd.
 
417,478
2,268,921
NAVER Corp.
 
220,417
28,991,516
NCSOFT Corp.
 
24,313
3,063,357
Netmarble Corp. (b)(d)
 
41,767
1,667,653
NH Investment & Securities Co. Ltd.
 
263,939
2,365,796
Orion Corp./Republic of Korea
 
40,473
2,701,026
POSCO
 
121,943
35,104,067
POSCO Chemtech Co. Ltd. (a)
 
52,238
10,479,699
POSCO ICT Co. Ltd. (a)
 
90,424
2,620,422
Posco International Corp.
 
89,663
2,948,946
S-Oil Corp.
 
76,815
3,999,252
Samsung Biologics Co. Ltd. (b)(d)
 
30,187
16,919,336
Samsung C&T Corp.
 
140,833
15,143,972
Samsung E&A Co. Ltd. (b)
 
266,683
5,041,975
Samsung Electro-Mechanics Co. Ltd.
 
95,281
10,598,225
Samsung Electronics Co. Ltd.
 
8,089,390
448,403,182
Samsung Fire & Marine Insurance Co. Ltd.
 
51,899
11,583,810
Samsung Heavy Industries Co. Ltd. (b)
 
1,127,483
7,617,822
Samsung Life Insurance Co. Ltd.
 
134,918
8,477,774
Samsung SDI Co. Ltd.
 
93,280
28,786,471
Samsung SDS Co. Ltd.
 
65,643
7,519,913
Samsung Securities Co. Ltd.
 
109,494
2,986,922
Shinhan Financial Group Co. Ltd.
 
739,353
24,770,727
SK Biopharmaceuticals Co. Ltd. (b)
 
53,281
3,342,524
SK Bioscience Co. Ltd. (b)
 
46,253
1,942,633
SK Hynix, Inc.
 
925,788
113,927,668
SK IE Technology Co. Ltd. (b)(d)
 
48,594
2,050,981
SK Innovation Co., Ltd. (b)
 
102,197
8,084,738
SK Square Co. Ltd. (b)
 
164,520
9,013,830
SK Telecom Co. Ltd.
 
92,215
3,400,730
SK, Inc.
 
62,011
7,368,701
SKC Co. Ltd.
 
32,317
2,547,106
Woori Financial Group, Inc.
 
1,020,174
10,425,202
Yuhan Corp.
 
95,847
4,971,757
TOTAL KOREA (SOUTH)
 
 
1,383,218,275
Kuwait - 0.2%
 
 
 
Agility Global PLC (c)(e)
 
5,488,962
222,550
Boubyan Bank KSC
 
2,493,941
4,764,616
Gulf Bank
 
3,317,283
2,776,059
Kuwait Finance House KSCP
 
15,927,554
37,197,012
Mabanee Co. SAKC
 
1,182,966
3,023,604
Mobile Telecommunication Co.
 
3,307,760
5,235,767
National Bank of Kuwait
 
13,395,483
37,583,824
TOTAL KUWAIT
 
 
90,803,432
Luxembourg - 0.1%
 
 
 
ArcelorMittal SA (Netherlands)
 
868,727
21,870,418
Eurofins Scientific SA (a)
 
230,168
14,148,593
Reinet Investments SCA
 
232,653
5,434,795
TOTAL LUXEMBOURG
 
 
41,453,806
Macau - 0.1%
 
 
 
Galaxy Entertainment Group Ltd.
 
3,714,239
16,665,392
Sands China Ltd. (b)
 
4,098,465
9,666,829
TOTAL MACAU
 
 
26,332,221
Malaysia - 0.4%
 
 
 
AMMB Holdings Bhd
 
3,936,200
3,460,007
Axiata Group Bhd
 
4,503,615
2,666,727
CelcomDigi Bhd
 
5,911,100
5,130,954
CIMB Group Holdings Bhd
 
10,833,688
14,972,479
Gamuda Bhd
 
3,175,645
3,529,835
Genting Bhd
 
3,668,900
3,467,778
Genting Malaysia Bhd
 
5,179,400
2,857,089
Hong Leong Bank Bhd
 
1,134,700
4,582,419
IHH Healthcare Bhd
 
3,703,100
4,872,310
Inari Amertron Bhd
 
4,938,200
3,183,875
IOI Corp. Bhd
 
4,185,500
3,562,745
IOI Properties Group Bhd
 
11
5
Kuala Lumpur Kepong Bhd
 
851,063
4,110,890
Malayan Banking Bhd
 
9,237,268
18,822,462
Malaysia Airports Holdings Bhd
 
1,532,840
3,208,091
Maxis Bhd
 
3,956,000
3,038,554
MISC Bhd
 
2,222,800
3,703,787
MR DIY Group M Sdn Bhd (d)
 
5,375,850
1,757,165
Nestle (Malaysia) Bhd
 
115,100
3,064,155
Petronas Chemicals Group Bhd
 
4,790,600
6,798,182
Petronas Dagangan Bhd
 
499,200
2,251,646
Petronas Gas Bhd
 
1,311,600
4,942,962
PPB Group Bhd
 
1,049,620
3,457,838
Press Metal Aluminium Holdings
 
6,400,400
7,194,587
Public Bank Bhd
 
24,565,600
21,188,027
QL Resources Bhd
 
1,802,700
2,420,888
RHB Bank Bhd
 
2,493,677
2,870,481
Sime Darby Bhd
 
4,770,807
2,793,037
Sime Darby Plantation Bhd
 
3,508,924
3,276,840
Sime Darby Property Bhd
 
15
3
SP Setia Bhd
 
14
4
Telekom Malaysia Bhd
 
2,024,199
2,623,341
Tenaga Nasional Bhd
 
4,395,225
11,005,822
YTL Corp. Bhd
 
5,615,800
3,630,874
YTL Power International Bhd
 
4,161,300
3,989,220
TOTAL MALAYSIA
 
 
168,435,079
Mexico - 0.8%
 
 
 
Alfa SA de CV Series A
 
5,330,500
3,920,686
America Movil S.A.B. de CV Series L
 
31,802,046
30,278,381
Arca Continental S.A.B. de CV
 
877,362
8,559,155
Banco del Bajio SA (d)
 
1,323,500
4,879,661
CEMEX S.A.B. de CV unit (b)
 
25,720,040
20,373,944
Coca-Cola FEMSA S.A.B. de CV unit
 
892,175
8,851,051
Fibra Uno Administracion SA de CV
 
4,918,200
7,059,734
Fomento Economico Mexicano S.A.B. de CV unit
 
3,299,700
38,602,681
Gruma S.A.B. de CV Series B
 
309,770
6,084,101
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B
 
665,855
12,127,903
Grupo Aeroportuario del Sureste S.A.B. de CV Series B
 
303,885
10,438,605
Grupo Aeroportuario Norte S.A.B. de CV
 
486,500
5,386,197
Grupo Bimbo S.A.B. de CV Series A
 
2,252,500
9,438,259
Grupo Carso SA de CV Series A1
 
956,100
7,519,540
Grupo Financiero Banorte S.A.B. de CV Series O
 
4,405,200
43,600,056
Grupo Financiero Inbursa S.A.B. de CV Series O (b)
 
3,116,200
8,635,116
Grupo Mexico SA de CV Series B
 
5,289,723
32,684,919
Industrias Penoles SA de CV (a)(b)
 
333,140
4,834,694
Kimberly-Clark de Mexico SA de CV Series A
 
2,559,400
5,327,741
Operadora de Sites Mexicanos, SA de CV
 
2,062,200
2,320,927
Orbia Advance Corp. S.A.B. de CV
 
1,663,916
2,733,248
Prologis Property Mexico SA (a)
 
1,325,330
5,226,817
Promotora y Operadora de Infraestructura S.A.B. de CV
 
321,265
3,227,325
Southern Copper Corp. (a)
 
143,387
16,728,961
Wal-Mart de Mexico SA de CV Series V
 
8,889,300
33,168,662
TOTAL MEXICO
 
 
332,008,364
Netherlands - 2.9%
 
 
 
ABN AMRO Bank NV:
 
 
 
 GDR (Bearer) (a)(d)
 
809,125
13,030,188
 rights (a)(b)(c)
 
809,125
768,513
Adyen BV (b)(d)
 
36,848
44,143,885
AEGON NV
 
2,446,554
15,236,756
Akzo Nobel NV (a)
 
288,530
19,134,100
Argenx SE (b)
 
100,480
37,535,672
ASM International NV (Netherlands)
 
79,636
50,584,584
ASML Holding NV (Netherlands)
 
683,735
607,606,198
ASR Nederland NV
 
269,041
13,486,053
BE Semiconductor Industries NV
 
130,819
17,521,060
Euronext NV (d)
 
145,815
13,172,706
EXOR NV
 
158,464
17,367,883
Heineken Holding NV
 
219,893
17,729,304
Heineken NV (Bearer)
 
488,426
47,589,963
IMCD NV
 
96,743
14,686,478
ING Groep NV (Certificaten Van Aandelen)
 
5,636,554
89,115,451
JDE Peet's BV
 
167,217
3,715,412
Koninklijke Ahold Delhaize NV
 
1,616,015
49,052,804
Koninklijke KPN NV
 
5,700,850
20,717,639
Koninklijke Philips Electronics NV
 
1,318,227
35,007,083
NN Group NV
 
459,572
21,261,235
OCI NV
 
175,424
4,736,476
Randstad NV
 
184,492
9,293,202
Universal Music Group NV
 
1,390,379
41,101,606
Wolters Kluwer NV
 
421,421
63,300,974
TOTAL NETHERLANDS
 
 
1,266,895,225
New Zealand - 0.2%
 
 
 
Auckland International Airport Ltd.
 
2,256,028
10,352,027
Fisher & Paykel Healthcare Corp.
 
983,978
16,479,418
Mercury Nz Ltd.
 
1,201,851
4,510,389
Meridian Energy Ltd.
 
2,204,690
7,775,683
Spark New Zealand Ltd.
 
3,099,010
8,640,773
Xero Ltd. (b)
 
244,663
18,995,196
TOTAL NEW ZEALAND
 
 
66,753,486
Norway - 0.4%
 
 
 
Aker BP ASA
 
536,238
13,130,192
DNB Bank ASA
 
1,570,267
27,437,442
Equinor ASA
 
1,484,563
39,501,812
Equinor ASA sponsored ADR
 
45,714
1,215,535
Gjensidige Forsikring ASA
 
340,387
5,475,731
Kongsberg Gruppen ASA
 
147,968
10,469,717
Mowi ASA
 
792,091
13,972,204
Norsk Hydro ASA
 
2,258,018
13,876,390
Orkla ASA
 
1,181,247
8,060,361
Salmar ASA
 
111,375
7,033,313
Telenor ASA
 
1,071,038
12,331,616
TOTAL NORWAY
 
 
152,504,313
Peru - 0.1%
 
 
 
Compania de Minas Buenaventura SAA sponsored ADR
 
350,672
6,066,626
Credicorp Ltd. (United States)
 
114,902
19,028,920
TOTAL PERU
 
 
25,095,546
Philippines - 0.2%
 
 
 
Aboitiz Equity Ventures, Inc.
 
2,770,700
2,019,721
Ayala Corp.
 
477,495
5,079,861
Ayala Land, Inc.
 
11,260,270
5,586,641
Bank of the Philippine Islands (BPI)
 
3,123,560
6,844,558
BDO Unibank, Inc.
 
4,044,679
10,301,907
International Container Terminal Services, Inc.
 
1,714,470
9,814,000
JG Summit Holdings, Inc.
 
4,555,665
2,662,163
Jollibee Food Corp.
 
759,480
3,090,687
Manila Electric Co.
 
464,340
2,944,746
Metropolitan Bank & Trust Co.
 
2,957,931
3,582,092
PLDT, Inc.
 
123,935
2,888,665
SM Investments Corp.
 
418,515
6,877,180
SM Prime Holdings, Inc.
 
17,113,675
8,276,372
Universal Robina Corp.
 
1,503,070
2,665,902
TOTAL PHILIPPINES
 
 
72,634,495
Poland - 0.3%
 
 
 
Allegro.eu SA (b)(d)
 
986,219
8,269,953
Bank Polska Kasa Opieki SA
 
311,815
12,991,011
Budimex SA
 
21,751
3,686,474
CD Projekt SA
 
110,730
3,234,766
Dino Polska SA (b)(d)
 
82,740
7,952,945
KGHM Polska Miedz SA (Bearer)
 
238,183
8,258,663
LPP SA
 
1,874
7,267,040
mBank SA (b)
 
25,133
4,249,140
Orlen SA
 
984,913
16,131,945
PGE Polska Grupa Energetyczna SA (b)
 
1,525,179
2,289,047
Powszechna Kasa Oszczednosci Bank SA
 
1,484,897
22,220,010
Powszechny Zaklad Ubezpieczen SA
 
1,025,823
12,968,199
Santander Bank Polska SA
 
60,281
8,333,888
TOTAL POLAND
 
 
117,853,081
Portugal - 0.1%
 
 
 
Banco Espirito Santo SA (Reg.) (b)(e)
 
319,729
3
Energias de Portugal SA
 
5,327,760
20,048,080
Galp Energia SGPS SA Class B
 
785,532
16,934,059
Jeronimo Martins SGPS SA
 
481,284
9,938,669
TOTAL PORTUGAL
 
 
46,920,811
Qatar - 0.2%
 
 
 
Barwa Real Estate Co.
 
3,680,915
2,840,805
Dukhan Bank
 
3,071,131
3,248,263
Industries Qatar QSC
 
2,560,701
8,615,377
Masraf al Rayan
 
9,516,790
6,565,827
Mesaieed Petrochemical Holding Co.
 
9,753,785
5,140,762
Ooredoo QSC
 
1,335,122
3,663,243
Qatar Electricity & Water Co.
 
751,229
3,146,455
Qatar Fuel Co.
 
1,010,223
4,012,036
Qatar Gas Transport Co. Ltd. (Nakilat)
 
4,177,087
4,587,798
Qatar International Islamic Bank QSC
 
1,665,223
4,600,973
Qatar Islamic Bank
 
3,004,226
15,099,515
Qatar National Bank SAQ
 
7,840,643
29,868,091
The Commercial Bank of Qatar
 
5,499,425
6,272,758
TOTAL QATAR
 
 
97,661,903
Romania - 0.0%
 
 
 
NEPI Rockcastle PLC
 
949,617
6,382,700
Russia - 0.0%
 
 
 
Alrosa Co. Ltd. (b)(e)
 
3,102,770
513,974
Gazprom OAO (b)(e)
 
12,146,244
1,265,527
Gazprom OAO sponsored ADR (Reg. S) (b)(e)
 
1,078,053
534,714
Inter Rao Ues JSC (b)(e)
 
42,112,900
231,182
LUKOIL PJSC (b)(e)
 
451,803
139,242
MMC Norilsk Nickel PJSC (b)(e)
 
6,655,600
440,735
MMC Norilsk Nickel PJSC sponsored ADR (b)(e)
 
85,403
204,967
Moscow Exchange MICEX-RTS OAO (b)(e)
 
1,699,470
325,283
Novatek PJSC GDR (Reg. S) (b)(e)
 
110,438
5,389,374
Novolipetsk Steel OJSC (b)(e)
 
1,805,640
17,261
Ozon Holdings PLC ADR (b)(e)
 
62,559
130,500
PhosAgro PJSC:
 
 
 
 GDR (Reg. S) (b)(e)
 
158,247
3,246
 sponsored GDR (Reg. S) (b)(e)
 
1,019
21
Polyus PJSC (b)(e)
 
41,353
96,829
Rosneft Oil Co. OJSC (b)(e)
 
1,187,356
197,719
Rosneft Oil Co. OJSC GDR (Reg. S) (b)(e)
 
214,392
50,693
Sberbank of Russia (b)(e)
 
13,066,303
79,992
Severstal PAO (b)(e)
 
245,384
5,455
Severstal PAO GDR (Reg. S) (b)(e)
 
10,278
243
Surgutneftegas OJSC (b)(e)
 
6,111,900
74,467
Surgutneftegas OJSC sponsored ADR (b)(e)
 
214,357
39,585
Tatneft PAO (b)(e)
 
1,520,327
188,284
TKS Holding MKPAO JSC (b)(e)
 
5,907
7,490
United Co. RUSAL International PJSC (b)(e)
 
3,455,150
414,618
VK Co. Ltd. (b)(e)
 
51,978
15,376
VK Co. Ltd. GDR (Reg. S) (b)(e)
 
68,289
1
VTB Bank OJSC (b)(e)
 
4,133,678,016
157,252
Yandex NV Class A (b)(e)
 
371,380
1,380,604
TOTAL RUSSIA
 
 
11,904,634
Saudi Arabia - 1.1%
 
 
 
ACWA Power Co.
 
161,855
17,261,771
Ades Holding Co.
 
581,855
3,099,628
Advanced Petrochemicals Co.
 
224,620
2,557,264
Al Rajhi Bank
 
3,324,794
70,828,945
Alinma Bank
 
2,068,917
18,396,625
Almarai Co. Ltd.
 
426,590
6,460,383
Arab National Bank
 
1,148,125
9,459,037
Arabian Internet and Communications Services Co. Ltd.
 
40,960
3,800,480
Bank Al-Jazira
 
858,316
3,707,332
Bank Albilad
 
1,040,343
9,902,481
Banque Saudi Fransi
 
1,003,395
9,804,945
Bupa Arabia for Cooperative Insurance Co.
 
139,652
8,980,980
Dallah Healthcare Co.
 
57,162
2,484,244
Dar Al Arkan Real Estate Development Co. (b)
 
903,278
3,203,113
Dr Sulaiman Al Habib Medical Services Group Co.
 
147,658
12,228,063
Elm Co.
 
40,780
9,944,379
Etihad Etisalat Co.
 
642,621
8,909,586
Jarir Marketing Co.
 
994,203
3,589,161
Luberef
 
88,050
3,558,999
Mobile Telecommunications Co. Saudi Arabia
 
765,095
2,464,232
Mouwasat Medical Services Co.
 
164,735
5,903,158
Nahdi Medical Co.
 
70,023
2,580,168
Power & Water Utility Co. for Jubail & Yanbu
 
129,078
2,236,994
Riyad Bank
 
2,495,853
18,433,085
Sabic Agriculture-Nutrients Co.
 
396,900
12,254,311
Sahara International Petrochemical Co.
 
613,755
5,612,914
Saudi Arabian Mining Co.
 
2,192,803
29,583,488
Saudi Arabian Oil Co. (d)
 
4,510,269
36,196,634
Saudi Awwal Bank
 
1,701,287
18,507,041
Saudi Basic Industries Corp.
 
1,526,948
34,401,724
Saudi Electricity Co.
 
1,410,290
7,001,440
Saudi Industrial Investment Group
 
635,951
3,937,179
Saudi Investment Bank/The
 
842,632
3,792,361
Saudi Kayan Petrochemical Co. (b)
 
1,203,196
3,005,905
Saudi Research & Marketing Group (b)
 
61,290
3,935,006
Saudi Tadawul Group Holding Co.
 
81,825
5,777,012
Saudi Telecom Co.
 
3,392,529
34,055,542
The Co. for Cooperative Insurance
 
125,234
4,975,168
The Saudi National Bank
 
4,987,646
50,001,464
The Savola Group
 
440,389
5,929,623
Yanbu National Petrochemical Co.
 
457,607
4,727,849
TOTAL SAUDI ARABIA
 
 
503,489,714
Singapore - 1.0%
 
 
 
CapitaLand Ascendas REIT
 
6,308,615
11,949,924
CapitaLand Integrated Commercial Trust
 
9,004,839
12,836,359
CapitaLand Investment Ltd.
 
4,436,999
8,580,507
City Developments Ltd.
 
845,745
3,790,573
DBS Group Holdings Ltd.
 
3,378,301
86,002,787
Genting Singapore Ltd.
 
10,284,223
6,863,384
Grab Holdings Ltd. (b)
 
3,206,826
11,223,891
Jardine Cycle & Carriage Ltd.
 
168,600
3,253,685
Keppel Ltd.
 
2,476,057
12,385,022
Mapletree Logistics Trust (REIT)
 
6,047,287
5,934,221
Mapletree Pan Asia Commercial Trust
 
4,015,889
3,680,053
Oversea-Chinese Banking Corp. Ltd.
 
5,738,291
59,572,491
Sea Ltd. ADR (b)
 
625,713
39,538,804
Seatrium Ltd. (a)(b)
 
75,609,086
5,401,217
Sembcorp Industries Ltd.
 
1,521,900
5,947,698
Singapore Airlines Ltd.
 
2,521,839
12,033,260
Singapore Exchange Ltd.
 
1,451,690
9,902,740
Singapore Technologies Engineering Ltd.
 
2,670,097
7,843,369
Singapore Telecommunications Ltd.
 
14,016,618
24,308,674
STMicroelectronics NV (France)
 
1,158,783
45,870,294
United Overseas Bank Ltd.
 
2,144,515
47,588,512
TOTAL SINGAPORE
 
 
424,507,465
South Africa - 0.9%
 
 
 
Absa Group Ltd. (a)
 
1,444,313
11,137,206
Anglo American Platinum Ltd. (a)
 
112,931
3,933,947
Anglo American PLC (United Kingdom)
 
2,156,087
70,455,488
Aspen Pharmacare Holdings Ltd.
 
646,589
7,702,761
Bid Corp. Ltd.
 
565,618
12,892,064
Bidvest Group Ltd./The
 
490,958
6,402,606
Capitec Bank Holdings Ltd.
 
147,916
18,306,514
Clicks Group Ltd.
 
403,384
6,276,170
Discovery Ltd.
 
921,488
5,870,498
Exxaro Resources Ltd. (a)
 
408,291
3,911,871
FirstRand Ltd. (a)
 
8,568,474
29,579,676
Gold Fields Ltd.
 
1,516,582
24,534,764
Harmony Gold Mining Co. Ltd.
 
949,038
8,215,087
Impala Platinum Holdings Ltd.
 
1,530,027
6,810,999
Kumba Iron Ore Ltd. (a)
 
110,139
2,699,852
MTN Group Ltd. (a)
 
2,870,774
13,759,067
Naspers Ltd. Class N
 
310,840
59,487,822
Nedbank Group Ltd. (a)
 
742,151
9,023,941
Northam Platinum Holdings Ltd.
 
609,021
4,035,178
Old Mutual Ltd. (a)
 
8,030,813
4,718,486
OUTsurance Group Ltd. (a)
 
1,450,999
3,119,380
Pepkor Holdings Ltd. (d)
 
3,423,793
3,229,828
Remgro Ltd.
 
850,161
5,539,461
Sanlam Ltd. (a)
 
2,970,169
10,744,236
Sasol Ltd.
 
976,798
6,862,313
Shoprite Holdings Ltd.
 
847,812
11,311,776
Sibanye-Stillwater Ltd.
 
4,818,392
5,499,474
Standard Bank Group Ltd.
 
2,276,487
21,377,954
Thungela Resources Ltd.
 
1
7
Vodacom Group Ltd.
 
1,061,807
5,081,130
Woolworths Holdings Ltd.
 
1,592,408
5,058,572
TOTAL SOUTH AFRICA
 
 
387,578,128
Spain - 1.6%
 
 
 
Acciona SA
 
42,538
4,934,605
ACS Actividades de Construccion y Servicios SA
 
358,586
14,381,226
Aena SME SA (a)(d)
 
127,006
23,258,802
Amadeus IT Holding SA Class A
 
763,974
48,492,448
Banco Bilbao Vizcaya Argentaria SA
 
9,901,812
107,077,896
Banco Santander SA (Spain) (a)
 
27,447,169
133,950,573
Banco Santander SA (Spain) sponsored ADR
 
64
307
CaixaBank SA (a)
 
6,362,509
33,553,067
Cellnex Telecom SA (d)
 
779,111
25,753,275
EDP Renovaveis SA
 
514,617
7,068,195
Enagas SA (a)
 
416,037
6,109,367
Endesa SA
 
536,448
9,789,704
Grifols SA (a)(b)
 
508,590
4,692,766
Iberdrola SA (a)
 
10,401,435
127,537,994
Industria de Diseno Textil SA (a)
 
1,850,019
84,600,481
Redeia Corp. SA (a)
 
685,680
11,452,008
Repsol SA
 
2,062,063
32,366,294
Telefonica SA
 
8,293,573
37,151,867
TOTAL SPAIN
 
 
712,170,875
Sweden - 1.9%
 
 
 
Alfa Laval AB (a)
 
490,921
21,097,255
ASSA ABLOY AB (B Shares) (a)
 
1,699,373
44,899,843
Atlas Copco AB:
 
 
 
 (A Shares) (a)
 
4,554,584
79,778,494
 (B Shares) (a)
 
2,646,820
40,229,243
Beijer Ref AB (B Shares) (a)
 
648,943
9,330,425
Boliden AB (a)
 
465,225
15,539,302
Epiroc AB:
 
 
 
 (A Shares)
 
1,123,239
20,765,744
 (B Shares)
 
655,676
10,983,067
EQT AB (a)
 
633,916
17,388,916
Essity AB (B Shares)
 
1,033,845
25,760,756
Evolution AB (a)(d)
 
310,852
34,750,977
Fastighets AB Balder (b)
 
1,102,233
7,093,242
Getinge AB (B Shares)
 
389,519
8,306,138
H&M Hennes & Mauritz AB (B Shares) (a)
 
1,088,630
17,459,925
Hexagon AB (B Shares) (a)
 
3,521,215
37,303,714
Holmen AB (B Shares) (a)
 
131,633
5,155,240
Husqvarna AB (B Shares) (a)
 
597,876
4,919,549
Industrivarden AB:
 
 
 
 (A Shares)
 
205,396
6,657,422
 (C Shares) (a)
 
265,961
8,613,252
Indutrade AB
 
460,461
10,788,268
Investment AB Latour (B Shares)
 
252,981
6,186,561
Investor AB:
 
 
 
 (A Shares) (a)
 
674,957
16,585,456
 (B Shares) (a)
 
2,266,752
56,018,829
L E Lundbergforetagen AB
 
128,537
6,391,626
Lifco AB
 
396,888
9,723,763
Nibe Industrier AB (B Shares) (a)
 
2,556,681
11,970,957
Saab AB (B Shares)
 
136,366
10,871,762
Sagax AB (a)
 
345,543
8,722,920
Sandvik AB (a)
 
1,807,648
36,528,911
Securitas AB (B Shares) (a)
 
828,606
8,379,745
Skandinaviska Enskilda Banken AB (A Shares) (a)
 
2,692,767
35,503,162
Skanska AB (B Shares) (a)
 
573,537
9,984,490
SKF AB (B Shares)
 
579,471
12,093,783
Svenska Cellulosa AB SCA (B Shares) (a)
 
1,032,967
15,189,313
Svenska Handelsbanken AB (A Shares)
 
2,476,457
21,236,429
Swedbank AB (A Shares)
 
1,440,831
27,769,637
Swedish Orphan Biovitrum AB (b)
 
331,017
8,572,488
Tele2 AB (B Shares)
 
911,672
8,529,036
Telefonaktiebolaget LM Ericsson (B Shares) (a)
 
4,964,545
25,194,508
Telia Co. AB
 
3,990,054
9,145,654
Volvo AB:
 
 
 
 (A Shares)
 
324,075
8,610,319
 (B Shares)
 
2,573,591
66,182,325
Volvo Car AB
 
1,260,166
3,994,192
TOTAL SWEDEN
 
 
850,206,638
Switzerland - 3.8%
 
 
 
ABB Ltd. (Reg.)
 
2,714,231
131,880,244
Adecco SA (Reg.)
 
271,860
9,534,693
Alcon, Inc. (Switzerland)
 
847,817
65,574,967
Avolta AG (b)
 
168,743
6,381,331
Bachem Holding AG (B Shares) (a)
 
57,834
5,042,584
Baloise Holdings AG
 
77,061
11,635,645
Banque Cantonale Vaudoise (a)
 
50,803
5,316,561
Barry Callebaut AG
 
6,056
9,776,561
BKW AG
 
36,065
5,347,468
Clariant AG (Reg.)
 
369,724
5,542,341
Compagnie Financiere Richemont SA Series A
 
911,854
126,042,870
DSM-Firmenich AG
 
315,699
35,611,807
Ems-Chemie Holding AG
 
12,049
9,660,172
Geberit AG (Reg.) (a)
 
56,693
30,441,844
Givaudan SA
 
15,670
67,265,510
Helvetia Holding AG (Reg.)
 
62,523
8,182,232
Julius Baer Group Ltd.
 
349,783
18,768,784
Kuehne & Nagel International AG (a)
 
92,254
24,457,220
Lindt & Spruengli AG
 
183
21,181,615
Lindt & Spruengli AG (participation certificate)
 
1,628
18,790,405
Logitech International SA (Reg.)
 
279,177
21,884,683
Lonza Group AG
 
126,355
69,747,160
Novartis AG
 
3,476,360
337,406,999
Partners Group Holding AG
 
38,511
49,832,836
Sandoz Group AG
 
695,167
23,626,589
Schindler Holding AG:
 
 
 
 (participation certificate)
 
68,549
17,151,232
 (Reg.)
 
40,282
9,837,704
SGS SA (Reg.)
 
254,381
22,431,465
Sig Group AG
 
522,734
10,463,210
Sika AG
 
258,731
74,108,102
Sonova Holding AG
 
86,085
23,917,442
Straumann Holding AG
 
189,475
25,352,652
Swatch Group AG (Bearer)
 
51,344
10,787,955
Swatch Group AG (Bearer) (Reg.)
 
76,049
3,160,263
Swiss Life Holding AG
 
50,095
33,841,713
Swiss Prime Site AG
 
129,767
12,013,241
Swisscom AG (a)
 
43,937
24,065,575
Temenos AG
 
107,953
6,752,567
UBS Group AG
 
5,576,954
147,242,506
UBS Group AG
 
657
17,640
VAT Group AG (d)
 
45,828
23,067,300
Zurich Insurance Group Ltd.
 
248,194
119,932,309
TOTAL SWITZERLAND
 
 
1,683,075,997
Taiwan - 4.7%
 
 
 
Accton Technology Corp.
 
850,000
11,886,820
Acer, Inc.
 
4,917,060
6,753,617
Advantech Co. Ltd.
 
797,303
9,257,277
Alchip Technologies Ltd.
 
126,000
11,862,566
ASE Technology Holding Co. Ltd.
 
5,197,943
23,341,875
Asia Cement Corp.
 
3,872,785
5,184,971
ASUSTeK Computer, Inc.
 
1,199,422
15,699,761
AUO Corp.
 
11,199,600
6,251,232
Catcher Technology Co. Ltd.
 
988,000
6,587,791
Cathay Financial Holding Co. Ltd.
 
16,174,184
24,966,551
Chailease Holding Co. Ltd.
 
2,594,727
13,660,938
Chang Hwa Commercial Bank
 
9,258,350
5,167,793
Cheng Shin Rubber Industry Co. Ltd.
 
3,262,513
4,701,815
China Airlines Ltd.
 
4,699,000
3,003,884
China Development Financial Ho (b)
 
27,017,457
11,274,402
China Steel Corp.
 
19,901,421
15,134,381
Chunghwa Picture Tubes, Ltd. (b)(e)
 
551
0
Chunghwa Telecom Co. Ltd.
 
6,441,400
24,439,172
Compal Electronics, Inc.
 
7,140,394
7,774,602
CTBC Financial Holding Co. Ltd.
 
30,002,255
31,258,252
Delta Electronics, Inc.
 
3,306,383
32,322,813
E Ink Holdings, Inc.
 
1,447,000
9,234,545
E.SUN Financial Holdings Co. Ltd.
 
23,956,272
20,094,718
ECLAT Textile Co. Ltd.
 
304,420
4,781,272
eMemory Technology, Inc.
 
107,000
7,178,955
EVA Airways Corp.
 
4,598,000
4,990,229
Evergreen Marine Corp. (Taiwan)
 
1,727,221
10,018,265
Far Eastern New Century Corp.
 
5,058,032
5,036,631
Far EasTone Telecommunications Co. Ltd.
 
3,036,000
7,517,143
Feng Tay Enterprise Co. Ltd.
 
922,710
4,579,671
First Financial Holding Co. Ltd.
 
18,397,419
15,395,551
Formosa Chemicals & Fibre Corp.
 
6,011,620
10,199,437
Formosa Petrochemical Corp.
 
1,934,000
4,266,235
Formosa Plastics Corp.
 
6,518,640
13,670,901
Fubon Financial Holding Co. Ltd.
 
13,243,311
27,966,658
Gigabyte Technology Co. Ltd.
 
857,000
7,715,027
Global Unichip Corp.
 
159,000
6,591,773
GlobalWafers Co. Ltd.
 
366,000
5,805,090
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
21,152,593
100,514,716
Hotai Motor Co. Ltd.
 
521,180
9,872,468
Hua Nan Financial Holdings Co. Ltd.
 
15,030,634
10,869,180
Innolux Corp.
 
14,684,597
6,374,987
Inventec Corp.
 
4,584,209
7,340,994
Largan Precision Co. Ltd.
 
169,000
11,245,165
Lite-On Technology Corp.
 
3,381,053
10,215,511
MediaTek, Inc.
 
2,576,989
77,561,112
Mega Financial Holding Co. Ltd.
 
19,576,730
23,946,902
Micro-Star International Co. Ltd.
 
1,218,000
5,915,905
Nan Ya Plastics Corp.
 
8,107,980
14,053,702
Nan Ya Printed Circuit Board Corp.
 
386,000
2,193,959
Nanya Technology Corp.
 
2,105,000
4,241,269
Nien Made Enterprise Co. Ltd.
 
301,000
3,511,339
Novatek Microelectronics Corp.
 
981,000
18,503,253
Pegatron Corp.
 
3,365,652
10,019,956
PharmaEssentia Corp. (b)
 
409,000
3,670,972
Pou Chen Corp.
 
3,784,240
4,181,215
Powerchip Semiconductor Manufacturing Corp.
 
5,183,554
3,615,188
President Chain Store Corp.
 
962,000
8,075,679
Quanta Computer, Inc.
 
4,590,000
35,959,385
Realtek Semiconductor Corp.
 
826,744
13,018,830
Ruentex Development Co. Ltd.
 
2,658,661
3,122,584
Shin Kong Financial Holding Co. Ltd. (b)
 
22,457,616
5,924,066
Sinopac Financial Holdings Co.
 
17,864,301
11,997,117
Synnex Technology International Corp.
 
2,129,920
5,196,806
Taishin Financial Holdings Co. Ltd.
 
19,092,737
10,493,201
Taiwan Business Bank
 
10,557,432
5,471,556
Taiwan Cement Corp.
 
11,474,302
11,258,600
Taiwan Cooperative Financial Holding Co. Ltd.
 
17,357,294
13,924,008
Taiwan High Speed Rail Corp.
 
3,295,000
3,015,548
Taiwan Mobile Co. Ltd.
 
3,097,400
9,868,115
Taiwan Semiconductor Manufacturing Co. Ltd.
 
41,783,000
998,663,620
The Shanghai Commercial & Savings Bank Ltd.
 
6,550,811
9,313,160
Uni-President Enterprises Corp.
 
8,218,620
19,243,378
Unimicron Technology Corp.
 
2,317,000
12,790,288
United Microelectronics Corp.
 
19,114,000
29,314,973
Vanguard International Semiconductor Corp.
 
1,528,000
3,997,000
Voltronic Power Technology Corp.
 
110,000
5,195,641
Walsin Lihwa Corp.
 
4,871,600
5,492,996
Wan Hai Lines Ltd.
 
1,217,050
1,887,041
Winbond Electronics Corp.
 
5,321,969
4,213,143
Wistron Corp.
 
4,438,000
15,168,965
Wiwynn Corp.
 
162,000
11,504,040
WPG Holding Co. Ltd.
 
2,714,378
7,318,029
Yageo Corp.
 
575,909
10,965,646
Yang Ming Marine Transport Corp.
 
2,994,000
4,778,254
Yuanta Financial Holding Co. Ltd.
 
17,278,195
16,178,761
Zhen Ding Technology Holding Ltd.
 
1,133,230
4,004,016
TOTAL TAIWAN
 
 
2,060,774,853
Thailand - 0.4%
 
 
 
Advanced Info Service PCL (For. Reg.)
 
834,600
4,422,336
Advanced Information Service PCL NVDR
 
1,187,700
6,293,324
Airports of Thailand PCL:
 
 
 
 (For. Reg.)
 
2,874,900
5,033,918
 NVDR
 
4,373,700
7,658,301
Asset World Corp. PCL:
 
 
 
 (For. Reg.)
 
7,773,300
915,174
 NVDR
 
6,688,800
787,492
Bangkok Dusit Medical Services PCL:
 
 
 
 (For. Reg.)
 
8,118,600
6,322,607
 NVDR
 
10,819,900
8,426,327
Bangkok Expressway and Metro PCL:
 
 
 
 (For. Reg.)
 
5,767,300
1,283,996
 NVDR
 
7,539,700
1,678,593
BTS Group Holdings PCL:
 
 
 
 (For. Reg.)
 
3,939,900
667,875
 NVDR
 
8,888,800
1,511,965
Bumrungrad Hospital PCL:
 
 
 
 (For. Reg.)
 
333,600
2,195,918
 NVDR
 
685,000
4,509,005
Central Pattana PCL:
 
 
 
 (For. Reg.)
 
1,703,600
2,897,458
 NVDR
 
1,748,100
2,973,143
Central Retail Corp. PCL:
 
 
 
 (For. Reg.)
 
1,222,150
1,127,397
 NVDR
 
1,579,300
1,456,858
Charoen Pokphand Foods PCL:
 
 
 
 (For. Reg.)
 
3,517,640
1,871,064
 NVDR
 
2,763,300
1,469,824
CP ALL PCL:
 
 
 
 (For. Reg.)
 
4,316,600
6,653,409
 NVDR
 
5,571,900
8,588,271
CP Axtra PCL NVDR
 
3,616,600
3,146,213
Delta Electronics PCL:
 
 
 
 (For. Reg.)
 
2,269,000
4,220,664
 NVDR
 
3,028,400
5,633,257
Energy Absolute PCL:
 
 
 
 (For. Reg.)
 
1,264,600
1,036,441
 NVDR
 
1,455,800
1,193,144
Global Power Synergy Public Co. Ltd.:
 
 
 
 (For. Reg.)
 
472,100
617,272
 NVDR
 
783,200
1,024,036
Gulf Energy Development PCL:
 
 
 
 (For. Reg.)
 
1,254,900
1,351,891
 NVDR
 
3,661,200
3,944,172
Home Product Center PCL:
 
 
 
 (For. Reg.)
 
4,757,447
1,324,408
 NVDR
 
4,895,000
1,362,701
Indorama Ventures PCL NVDR
 
3,003,800
1,922,678
Intouch Holdings PCL:
 
 
 
 (For. Reg.)
 
737,800
1,325,312
 NVDR
 
832,900
1,496,140
Kasikornbank PCL NVDR
 
969,000
3,392,326
Krung Thai Bank PCL:
 
 
 
 (For. Reg.)
 
1,971,475
889,222
 NVDR
 
3,607,800
1,627,276
Krungthai Card PCL:
 
 
 
 (For. Reg.)
 
402,600
462,948
 NVDR
 
1,476,100
1,697,360
Land & House PCL:
 
 
 
 (For. Reg.)
 
7,055,500
1,412,327
 NVDR
 
7,750,000
1,551,348
Minor International PCL:
 
 
 
 (For. Reg.)
 
2,307,541
2,040,315
 NVDR
 
3,435,182
3,037,369
Muangthai Leasing PCL:
 
 
 
 (For. Reg.)
 
559,091
678,561
 NVDR
 
617,000
748,844
PTT Exploration and Production PCL:
 
 
 
 (For. Reg.)
 
1,205,451
5,029,189
 NVDR
 
1,152,800
4,809,527
PTT Global Chemical PCL:
 
 
 
 (For. Reg.)
 
1,977,086
1,944,795
 NVDR
 
1,888,700
1,857,852
PTT Oil & Retail Business PCL NVDR
 
4,873,000
2,440,163
PTT PCL:
 
 
 
 (For. Reg.)
 
7,492,700
6,772,161
 NVDR
 
9,511,100
8,596,461
SCB X PCL:
 
 
 
 (For. Reg.)
 
373,700
1,067,278
 NVDR
 
1,002,100
2,861,973
SCG Packaging PCL NVDR
 
1,999,600
1,736,096
Siam Cement PCL:
 
 
 
 (For. Reg.)
 
548,850
3,667,042
 NVDR
 
783,400
5,234,146
Thai Oil PCL:
 
 
 
 (For. Reg.)
 
934,645
1,358,161
 NVDR
 
1,068,654
1,552,894
TMBThanachart Bank PCL NVDR
 
42,432,400
2,062,103
True Corp. PCL (b)
 
9,429,253
1,939,194
True Corp. PCL NVDR (b)
 
9,261,605
1,904,716
TOTAL THAILAND
 
 
180,714,231
Turkey - 0.2%
 
 
 
Akbank TAS
 
5,278,545
9,689,591
Aselsan A/S
 
2,352,805
4,413,382
Bim Birlesik Magazalar A/S JSC
 
767,228
9,168,003
Coca-Cola Icecek Sanayi A/S
 
129,545
2,900,000
Eregli Demir ve Celik Fabrikalari T.A.S.
 
2,381,608
3,166,530
Ford Otomotiv Sanayi A/S
 
118,329
4,070,200
Haci Omer Sabanci Holding A/S
 
1,751,481
4,991,677
Koc Holding A/S
 
1,290,282
9,007,920
Pegasus Hava Tasimaciligi A/S (b)
 
78,297
2,499,798
Sasa Polyester Sanayi A/S
 
2,262,275
2,883,530
Tofas Turk Otomobil Fabrikasi A/S
 
224,809
1,910,647
Turk Hava Yollari AO (b)
 
938,004
9,441,948
Turkcell Iletisim Hizmet A/S
 
2,055,520
5,128,288
Turkiye Is Bankasi A/S Series C
 
14,834,192
6,279,726
Turkiye Petrol Rafinerileri A/S
 
1,635,820
9,889,801
Turkiye Sise ve Cam Fabrikalari A/S
 
2,254,879
3,509,079
Yapi ve Kredi Bankasi A/S
 
5,734,471
5,715,658
TOTAL TURKEY
 
 
94,665,778
United Arab Emirates - 0.3%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
4,995,058
11,355,804
Abu Dhabi Islamic Bank
 
2,458,119
7,468,923
Abu Dhabi National Oil Co. for Distribution PJSC
 
5,343,011
5,076,944
Aldar Properties PJSC
 
6,492,795
9,651,954
Americana Restaurants International PLC
 
4,302,319
3,900,657
Dubai Islamic Bank Pakistan Ltd.
 
4,932,215
7,466,339
Emaar Properties PJSC
 
11,246,818
25,139,910
Emirates NBD Bank PJSC
 
3,191,735
14,772,930
Emirates Telecommunications Corp.
 
5,910,011
27,354,458
First Abu Dhabi Bank PJSC
 
7,506,464
25,505,914
Multiply Group (b)
 
6,711,176
4,202,593
NMC Health PLC (b)(e)
 
75,611
15
TOTAL UNITED ARAB EMIRATES
 
 
141,896,441
United Kingdom - 6.7%
 
 
 
3i Group PLC
 
1,651,045
58,987,630
Abrdn PLC
 
3,144,159
5,755,668
Admiral Group PLC
 
438,918
14,967,200
AngloGold Ashanti PLC
 
712,457
16,385,515
Ashtead Group PLC
 
742,364
54,191,615
Associated British Foods PLC
 
579,500
19,232,474
AstraZeneca PLC (United Kingdom)
 
2,629,254
397,671,914
Auto Trader Group PLC (d)
 
1,544,640
13,391,227
Aviva PLC
 
4,653,080
27,076,991
BAE Systems PLC
 
5,145,976
85,588,986
Barclays PLC
 
25,707,085
64,815,144
Barratt Developments PLC
 
1,660,600
9,435,037
Berkeley Group Holdings PLC
 
178,837
10,534,177
British American Tobacco PLC (United Kingdom)
 
3,413,487
100,207,272
BT Group PLC
 
10,922,578
14,003,163
Bunzl PLC
 
573,377
22,024,080
Burberry Group PLC
 
607,103
8,686,818
Centrica PLC
 
9,164,027
14,651,439
CK Hutchison Holdings Ltd.
 
4,528,223
21,992,565
Coca-Cola European Partners PLC
 
350,619
25,251,580
Compass Group PLC
 
2,897,541
80,591,415
Croda International PLC
 
224,073
12,907,558
DCC PLC (United Kingdom)
 
168,044
11,517,369
Diageo PLC
 
3,790,896
131,012,146
Entain PLC
 
1,076,981
10,585,604
Flutter Entertainment PLC (b)
 
300,293
56,003,245
Halma PLC
 
644,107
17,762,905
Hargreaves Lansdown PLC
 
606,708
6,169,515
HSBC Holdings PLC (United Kingdom)
 
32,491,814
281,637,526
Imperial Brands PLC
 
1,419,462
32,434,928
Informa PLC
 
2,333,778
23,206,899
InterContinental Hotel Group PLC
 
280,406
27,349,123
Intertek Group PLC
 
274,017
16,928,154
J Sainsbury PLC
 
2,823,781
9,293,952
JD Sports Fashion PLC
 
4,389,224
6,340,145
Kingfisher PLC
 
3,197,226
9,848,492
Land Securities Group PLC
 
1,205,961
9,802,440
Legal & General Group PLC
 
10,154,187
29,944,068
Lloyds Banking Group PLC
 
107,844,269
69,600,908
London Stock Exchange Group PLC
 
706,109
77,841,533
M&G PLC
 
3,807,689
9,568,133
Melrose Industries PLC
 
2,263,001
17,865,617
National Grid PLC
 
6,299,846
82,636,103
NatWest Group PLC
 
9,679,158
36,532,856
Next PLC
 
205,929
23,179,258
Ocado Group PLC (a)(b)
 
986,459
4,352,416
Pearson PLC
 
763,720
9,266,857
Pearson PLC sponsored ADR
 
294,486
3,586,839
Pepco Group NV (b)
 
280,334
1,333,114
Persimmon PLC
 
539,610
8,792,477
Phoenix Group Holdings PLC
 
1,283,582
7,855,902
Reckitt Benckiser Group PLC
 
1,210,615
67,681,861
RELX PLC (London Stock Exchange)
 
3,196,773
131,345,432
Rentokil Initial PLC
 
4,282,136
21,616,110
Rolls-Royce Holdings PLC (b)
 
14,281,773
73,237,296
Sage Group PLC
 
1,731,681
25,230,165
Schroders PLC
 
1,375,382
6,063,251
Segro PLC
 
2,160,185
22,889,718
Severn Trent PLC
 
454,564
14,012,571
Smith & Nephew PLC
 
1,487,089
18,017,058
Smiths Group PLC
 
592,234
11,958,820
Spirax-Sarco Engineering PLC
 
125,241
13,841,973
SSE PLC
 
1,854,825
38,555,133
St. James's Place PLC
 
929,966
5,061,842
Standard Chartered PLC (United Kingdom)
 
3,843,646
33,022,841
Taylor Wimpey PLC
 
5,949,892
9,806,353
Tesco PLC
 
11,975,088
44,212,875
Unilever PLC
 
4,239,552
219,315,444
United Utilities Group PLC
 
1,149,246
14,999,441
Vodafone Group PLC
 
37,136,128
31,316,974
Vodafone Group PLC sponsored ADR
 
183,947
1,546,994
Whitbread PLC
 
314,543
12,447,488
Wise PLC (b)
 
1,044,537
10,134,887
WPP PLC
 
1,814,466
18,186,690
TOTAL UNITED KINGDOM
 
 
2,955,099,209
United States of America - 5.9%
 
 
 
BP PLC
 
27,917,141
179,943,759
BP PLC sponsored ADR (a)
 
190,403
7,381,924
Brookfield Renewable Corp. (a)
 
231,712
5,382,741
BRP, Inc.
 
60,613
4,077,998
CRH PLC
 
1,177,083
91,720,589
CSL Ltd.
 
819,542
145,613,054
CyberArk Software Ltd. (b)
 
70,553
16,879,805
Experian PLC
 
1,558,016
62,840,932
Ferrovial SE
 
880,362
31,755,855
GFL Environmental, Inc.
 
395,404
12,617,657
GSK PLC
 
6,979,679
144,806,839
Haleon PLC
 
11,751,492
49,630,583
Holcim AG
 
884,321
74,024,546
James Hardie Industries PLC CDI (b)
 
746,963
25,679,059
JBS SA
 
1,322,700
5,970,822
Legend Biotech Corp. ADR (b)
 
123,207
5,389,074
Monday.com Ltd. (b)
 
48,769
9,233,435
Nestle SA (Reg. S)
 
4,528,601
454,672,438
Parade Technologies Ltd.
 
129,000
2,923,426
QIAGEN NV (Germany)
 
373,727
15,586,724
Roche Holding AG:
 
 
 
 (Bearer)
 
54,224
14,204,122
 (participation certificate)
 
1,191,616
285,528,139
Sanofi SA
 
1,930,691
190,738,784
Schneider Electric SA
 
923,134
210,486,836
Shell PLC (London)
 
11,030,847
392,131,363
Stellantis NV (Italy) (a)
 
3,757,703
83,733,407
Swiss Re Ltd.
 
511,747
55,569,851
Tenaris SA
 
803,014
13,433,107
TOTAL UNITED STATES OF AMERICA
 
 
2,591,956,869
Zambia - 0.0%
 
 
 
First Quantum Minerals Ltd.
 
1,202,376
15,267,158
 
TOTAL COMMON STOCKS
 (Cost $37,398,817,070)
 
 
 
42,686,406,938
 
 
 
 
Nonconvertible Preferred Stocks - 0.9%
 
 
Shares
Value ($)
 
Brazil - 0.4%
 
 
 
Ambev SA sponsored ADR
 
427,222
991,155
Banco Bradesco SA:
 
 
 
 (PN)
 
8,917,534
24,042,960
 (PN) sponsored ADR
 
1,102,352
2,976,350
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)
 
475,542
3,806,094
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
2,371,754
7,541,644
Companhia Paranaense de Energia-COPEL (PN-B)
 
1,880,100
3,291,243
Gerdau SA
 
2,360,738
8,301,636
Itau Unibanco Holding SA
 
7,362,861
44,466,996
Itau Unibanco Holding SA sponsored ADR
 
837,131
5,064,643
Itausa-Investimentos Itau SA (PN)
 
9,226,838
16,987,361
Petroleo Brasileiro SA - Petrobras:
 
 
 
 (PN) (non-vtg.)
 
6,647,240
53,791,362
 (PN) sponsored ADR (non-vtg.)
 
905,983
14,604,446
 sponsored ADR
 
149,348
2,534,436
TOTAL BRAZIL
 
 
188,400,326
Chile - 0.0%
 
 
 
Sociedad Quimica y Minera de Chile SA (PN-B)
 
243,143
11,105,485
Colombia - 0.0%
 
 
 
Bancolombia SA (PN)
 
754,127
6,170,654
France - 0.0%
 
 
 
Air Liquide SA (b)
 
46,389
9,072,697
Germany - 0.3%
 
 
 
Bayerische Motoren Werke AG (BMW) (non-vtg.)
 
99,081
10,203,837
Dr. Ing. h.c. F. Porsche AG Series F (d)
 
193,271
17,206,232
Henkel AG & Co. KGaA
 
290,542
23,081,167
Porsche Automobil Holding SE (Germany)
 
260,626
13,279,287
Sartorius AG (non-vtg.)
 
44,533
13,416,482
Volkswagen AG
 
347,915
42,621,358
TOTAL GERMANY
 
 
119,808,363
Korea (South) - 0.2%
 
 
 
AMOREPACIFIC Corp.
 
7,985
267,363
Hyundai Motor Co. Ltd.
 
41,134
4,667,537
Hyundai Motor Co. Ltd. Series 2
 
66,197
7,543,009
LG Chemical Ltd.
 
14,509
2,776,795
LG H & H Co. Ltd.
 
1,295
174,286
Samsung Electronics Co. Ltd.
 
1,406,792
65,500,813
TOTAL KOREA (SOUTH)
 
 
80,929,803
Russia - 0.0%
 
 
 
Surgutneftegas OJSC (b)(e)
 
8,898,217
154,149
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $418,030,568)
 
 
 
415,641,477
 
 
 
 
Nonconvertible Bonds - 0.0%
 
 
Principal
Amount (f)
 
Value ($)
 
India - 0.0%
 
 
 
NTPC Ltd. 8.49% 3/25/25
  (Cost $46,681)
INR
233,068
14,507
 
 
 
 
U.S. Government and Government Agency Obligations - 0.1%
 
 
Principal
Amount (f)
 
Value ($)
 
U.S. Treasury Obligations - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $39,872,021)
 
40,000,000
39,870,933
 
 
 
 
Money Market Funds - 5.8%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
1,315,162,879
1,315,425,912
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
1,238,838,501
1,238,962,385
 
TOTAL MONEY MARKET FUNDS
 (Cost $2,554,388,169)
 
 
2,554,388,297
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 104.0%
 (Cost $40,411,154,509)
 
 
 
45,696,322,152
NET OTHER ASSETS (LIABILITIES) - (4.0)%  
(1,774,572,055)
NET ASSETS - 100.0%
43,921,750,097
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
4,676
Jun 2024
530,141,500
(9,482,686)
(9,482,686)
ICE MSCI Emerging Markets Index Contracts (United States)
4,466
Jun 2024
232,678,600
701,276
701,276
TME S&P/TSX 60 Index Contracts (Canada)
330
Jun 2024
62,588,893
(461,847)
(461,847)
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(9,243,257)
The notional amount of futures purchased as a percentage of Net Assets is 1.9%
 
 
Currency Abbreviations
         INR
-
Indian rupee
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(b)
Non-income producing
 
(c)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(d)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $917,887,697 or 2.1% of net assets.
 
(e)
Level 3 security
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $39,870,933.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
1,204,498,921
3,542,511,414
3,431,583,061
30,969,396
(1,362)
-
1,315,425,912
2.6%
Fidelity Securities Lending Cash Central Fund 5.39%
646,052,156
5,121,796,865
4,528,886,634
4,199,495
-
(2)
1,238,962,385
4.5%
Total
1,850,551,077
8,664,308,279
7,960,469,695
35,168,891
(1,362)
(2)
2,554,388,297
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
 
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
2,228,984,823
419,889,025
1,807,699,817
1,395,981
Consumer Discretionary
5,021,004,067
1,284,077,117
3,736,796,450
130,500
Consumer Staples
3,219,524,655
918,428,969
2,301,095,685
1
Energy
2,497,390,641
937,127,639
1,552,229,248
8,033,754
Financials
9,237,528,145
3,695,574,116
5,541,043,388
910,641
Health Care
4,006,599,186
590,222,500
3,416,376,671
15
Industrials
5,964,747,125
1,880,149,443
4,084,375,132
222,550
Information Technology
5,508,587,808
1,206,939,209
4,301,648,597
2
Materials
3,251,349,098
1,385,464,111
1,864,187,638
1,697,349
Real Estate
841,689,148
215,133,434
626,555,714
-
Utilities
1,324,643,719
427,467,571
896,944,964
231,184
 Corporate Bonds
14,507
-
14,507
-
 U.S. Government and Government Agency Obligations
39,870,933
-
39,870,933
-
  Money Market Funds
2,554,388,297
2,554,388,297
-
-
 Total Investments in Securities:
45,696,322,152
15,514,861,431
30,168,838,744
12,621,977
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
701,276
701,276
-
-
  Total Assets
701,276
701,276
-
-
 Liabilities
 
 
 
 
Futures Contracts
(9,944,533)
(9,944,533)
-
-
  Total Liabilities
(9,944,533)
(9,944,533)
-
-
 Total Derivative Instruments:
(9,243,257)
(9,243,257)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
701,276
(9,944,533)
Total Equity Risk
701,276
(9,944,533)
Total Value of Derivatives
701,276
(9,944,533)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $1,154,596,864) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $37,856,766,340)
$
43,141,933,855
 
 
Fidelity Central Funds (cost $2,554,388,169)
2,554,388,297
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $40,411,154,509)
 
 
$
45,696,322,152
Segregated cash with brokers for derivative instruments
 
 
12,562,565
Cash
 
 
4,731
Foreign currency held at value (cost $47,456,409)
 
 
47,211,099
Receivable for fund shares sold
 
 
2,579,615
Dividends receivable
 
 
138,137,785
Reclaims receivable
 
 
58,667,035
Interest receivable
 
 
18
Distributions receivable from Fidelity Central Funds
 
 
5,922,232
Receivable from investment adviser for expense reductions
 
 
48,636
Other receivables
 
 
160,134
  Total assets
 
 
45,961,616,002
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
1,652,047
 
 
Payable for fund shares redeemed
681,148,155
 
 
Payable for daily variation margin on futures contracts
20,161,724
 
 
Other payables and accrued expenses
97,921,714
 
 
Collateral on securities loaned
1,238,982,265
 
 
  Total liabilities
 
 
 
2,039,865,905
Net Assets  
 
 
$
43,921,750,097
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
40,293,785,817
Total accumulated earnings (loss)
 
 
 
3,627,964,280
Net Assets
 
 
$
43,921,750,097
Net Asset Value, offering price and redemption price per share ($43,921,750,097 ÷ 3,099,704,783 shares)
 
 
$
14.17
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
627,622,672
Interest  
 
 
1,494,068
Income from Fidelity Central Funds (including $4,199,495 from security lending)
 
 
35,168,891
 Income before foreign taxes withheld
 
 
$
664,285,631
Less foreign taxes withheld
 
 
(55,667,123)
 Total income
 
 
 
608,618,508
Expenses
 
 
 
 
Custodian fees and expenses
$
3,064,554
 
 
Independent trustees' fees and expenses
59,389
 
 
 Total expenses before reductions
 
3,123,943
 
 
 Expense reductions
 
(311,534)
 
 
 Total expenses after reductions
 
 
 
2,812,409
Net Investment income (loss)
 
 
 
605,806,099
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $14,001)
 
(291,749,969)
 
 
   Fidelity Central Funds
 
(1,362)
 
 
 Foreign currency transactions
 
(5,325,159)
 
 
 Futures contracts
 
121,289,495
 
 
Total net realized gain (loss)
 
 
 
(175,786,995)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $54,652,651)  
 
5,643,569,522
 
 
   Fidelity Central Funds
 
(2)
 
 
 Assets and liabilities in foreign currencies
 
(2,262,896)
 
 
 Futures contracts
 
55,237,346
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
5,696,543,970
Net gain (loss)
 
 
 
5,520,756,975
Net increase (decrease) in net assets resulting from operations
 
 
$
6,126,563,074
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
605,806,099
$
1,105,414,759
Net realized gain (loss)
 
(175,786,995)
 
 
(636,997,027)
 
Change in net unrealized appreciation (depreciation)
 
5,696,543,970
 
3,116,330,387
 
Net increase (decrease) in net assets resulting from operations
 
6,126,563,074
 
 
3,584,748,119
 
Distributions to shareholders
 
(1,183,731,202)
 
 
(864,349,534)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
3,797,691,162
 
8,456,848,187
  Reinvestment of distributions
 
1,183,731,202
 
 
864,349,534
 
Cost of shares redeemed
 
(2,494,395,414)
 
(5,436,184,955)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
2,487,026,950
 
 
3,885,012,766
 
Total increase (decrease) in net assets
 
7,429,858,822
 
 
6,605,411,351
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
36,491,891,275
 
29,886,479,924
 
End of period
$
43,921,750,097
$
36,491,891,275
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
276,896,591
 
643,820,506
  Issued in reinvestment of distributions
 
89,540,938
 
 
68,982,405
 
Redeemed
 
(178,276,989)
 
(417,024,417)
Net increase (decrease)
 
188,160,540
 
295,778,494
 
 
 
 
 
 
Financial Highlights
 
Fidelity® Series Global ex U.S. Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
12.53
$
11.43
$
15.55
$
12.23
$
12.78
$
11.80
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.20
 
.41
 
.42
 
.38
 
.29
 
.40
     Net realized and unrealized gain (loss)
 
1.84
 
1.03
 
(4.15)
 
3.18
 
(.56)
 
.90
  Total from investment operations
 
2.04  
 
1.44  
 
(3.73)  
 
3.56  
 
(.27)
 
1.30
  Distributions from net investment income
 
(.40)
 
(.34)
 
(.39)
 
(.24)
 
(.26)
 
(.32)
  Distributions from net realized gain
 
-
 
-
 
-
 
-
 
(.01)
 
-
     Total distributions
 
(.40)
 
(.34)
 
(.39)
 
(.24)
 
(.28) C
 
(.32)
  Net asset value, end of period
$
14.17
$
12.53
$
11.43
$
15.55
$
12.23
$
12.78
 Total Return D,E
 
16.53
%
 
 
12.62%
 
(24.57)%
 
29.34%
 
(2.27)%
 
11.36%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.01% H
 
.02%
 
.02%
 
.02%
 
.02%
 
.04%
    Expenses net of fee waivers, if any
 
.01
% H
 
 
.01%
 
.01%
 
.01%
 
.01%
 
.04%
    Expenses net of all reductions
 
.01% H
 
.01%
 
.01%
 
.01%
 
.01%
 
.04%
    Net investment income (loss)
 
2.86% H
 
3.11%
 
3.11%
 
2.52%
 
2.42%
 
3.27%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
43,921,750
$
36,491,891
$
29,886,480
$
30,864,862
$
18,177,449
$
12,066,585
    Portfolio turnover rate I
 
3
% H
 
 
6%
 
4%
 
5% J
 
5%
 
3% J
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal distributions per share do not sum due to rounding.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HAnnualized.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
JPortfolio turnover rate excludes securities received or delivered in-kind.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity Series Global ex U.S. Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Corporate bonds and U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund did not recognize dividend income during the period on certain Russian securities due to restrictions imposed by the Russian government on these dividend payments. There is uncertainty regarding the timeline for these restrictions to be lifted and the collectability of these and future dividend payments on Russian securities.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$9,611,829,684
Gross unrealized depreciation
(4,715,930,591)
Net unrealized appreciation (depreciation)
$4,895,899,093
Tax cost
$40,791,179,802
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
Short-term
$(370,074,036)
Long-term
(1,168,467,028)
Total capital loss carryforward
$(1,538,541,064)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Series Global ex U.S. Index Fund
3,237,168,093
526,258,951
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund does not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Series Global ex U.S. Index Fund
460,039
-
-
 
9. Expense Reductions.
The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .013% of average net assets. This reimbursement will remain in place through February 28, 2027. Some expenses, for example the compensation of the independent Trustees, and certain other expenses such as interest expense, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $308,375.
 
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $3,159.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, mutual funds and accounts managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Fund.
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® Series Global ex U.S. Index Fund
 
 
 
.01%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,165.30
 
$ .05
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.81
 
$ .05
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.899282.114
SGX-SANN-0624
Fidelity® SAI International Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
2.5
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
2.1
 
Nestle SA (Reg. S)  (United States of America, Food Products)
1.6
 
Toyota Motor Corp.  (Japan, Automobiles)
1.4
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
1.4
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
1.4
 
LVMH Moet Hennessy Louis Vuitton SE  (France, Textiles, Apparel & Luxury Goods)
1.4
 
Novartis AG  (Switzerland, Pharmaceuticals)
1.2
 
SAP SE  (Germany, Software)
1.1
 
Roche Holding AG (participation certificate)  (United States of America, Pharmaceuticals)
1.0
 
 
15.1
 
 
Market Sectors (% of Fund's net assets)
 
Financials
18.7
 
Industrials
16.9
 
Health Care
12.5
 
Consumer Discretionary
11.6
 
Information Technology
8.8
 
Consumer Staples
8.6
 
Materials
7.5
 
Energy
4.2
 
Communication Services
3.8
 
Utilities
3.4
 
Real Estate
1.7
 
 
Asset Allocation (% of Fund's net assets)
Futures - 2.9%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 96.8%
 
 
Shares
Value ($)
 
Australia - 7.1%
 
 
 
Ampol Ltd.
 
93,979
2,219,201
ANZ Group Holdings Ltd.
 
1,191,549
21,500,225
APA Group unit
 
506,056
2,700,558
Aristocrat Leisure Ltd.
 
229,880
5,866,534
ASX Ltd.
 
77,116
3,150,200
Aurizon Holdings Ltd.
 
725,937
1,783,084
BHP Group Ltd.
 
2,008,870
55,095,502
BlueScope Steel Ltd.
 
177,274
2,587,389
Brambles Ltd.
 
552,323
5,196,063
CAR Group Ltd.
 
142,376
3,087,212
Cochlear Ltd.
 
25,975
5,418,592
Coles Group Ltd.
 
532,385
5,552,359
Commonwealth Bank of Australia
 
663,579
48,620,120
Computershare Ltd.
 
213,633
3,753,183
DEXUS Property Group unit
 
424,195
1,926,784
EBOS Group Ltd.
 
61,528
1,267,909
Endeavour Group Ltd.
 
565,069
1,943,219
Fortescue Ltd.
 
671,405
11,128,167
Glencore PLC
 
4,111,001
23,920,124
Goodman Group unit
 
677,806
13,691,432
IDP Education Ltd. (a)
 
104,268
1,087,192
Insurance Australia Group Ltd.
 
953,288
3,949,450
Macquarie Group Ltd.
 
145,007
17,362,923
Medibank Private Ltd.
 
1,086,067
2,489,114
Mineral Resources Ltd.
 
69,277
3,142,567
Mirvac Group unit
 
1,556,229
2,039,079
National Australia Bank Ltd.
 
1,235,871
26,790,632
Northern Star Resources Ltd.
 
456,261
4,324,776
Orica Ltd.
 
194,460
2,251,601
Origin Energy Ltd.
 
683,697
4,315,097
Pilbara Minerals Ltd. (a)
 
1,127,492
2,870,486
Qantas Airways Ltd. (b)
 
333,211
1,257,174
QBE Insurance Group Ltd.
 
592,378
6,776,193
Ramsay Health Care Ltd.
 
72,926
2,444,495
REA Group Ltd.
 
20,842
2,389,078
Reece Ltd.
 
89,166
1,581,774
Rio Tinto Ltd.
 
147,137
12,245,379
Rio Tinto PLC
 
446,385
30,202,757
Santos Ltd.
 
1,288,274
6,322,034
Scentre Group unit
 
2,070,825
4,193,526
SEEK Ltd.
 
140,485
2,170,189
Seven Group Holdings Ltd.
 
64,956
1,578,373
Sonic Healthcare Ltd.
 
180,146
3,095,930
South32 Ltd.
 
1,788,668
4,080,812
Stockland Corp. Ltd. unit
 
941,423
2,667,161
Suncorp Group Ltd.
 
503,758
5,380,345
Telstra Group Ltd.
 
1,607,744
3,798,476
The GPT Group
 
755,459
2,031,756
The Lottery Corp. Ltd.
 
877,869
2,738,505
Transurban Group unit
 
1,225,844
9,841,640
Treasury Wine Estates Ltd.
 
322,444
2,500,621
Vicinity Centres unit
 
1,525,972
1,868,658
Washington H. Soul Pattinson & Co. Ltd.
 
92,528
1,936,388
Wesfarmers Ltd.
 
449,656
19,262,913
Westpac Banking Corp.
 
1,387,452
23,040,505
WiseTech Global Ltd.
 
66,144
3,896,712
Woodside Energy Group Ltd.
 
752,673
13,485,649
Woolworths Group Ltd.
 
481,791
9,884,964
TOTAL AUSTRALIA
 
 
471,702,781
Austria - 0.2%
 
 
 
Erste Group Bank AG
 
136,520
6,391,602
Mondi PLC
 
175,288
3,327,083
OMV AG
 
58,081
2,769,447
Verbund AG
 
26,851
2,051,726
Voestalpine AG
 
45,773
1,227,086
TOTAL AUSTRIA
 
 
15,766,944
Belgium - 0.8%
 
 
 
Ageas
 
63,007
2,900,780
Anheuser-Busch InBev SA NV
 
344,306
20,580,475
D'ieteren Group
 
8,472
1,837,196
Elia Group SA/NV
 
11,598
1,118,297
Groupe Bruxelles Lambert SA
 
34,713
2,587,643
KBC Group NV
 
99,357
7,411,762
Lotus Bakeries SA
 
161
1,620,255
Sofina SA
 
6,078
1,432,206
Syensqo SA
 
29,229
2,719,734
UCB SA
 
50,174
6,669,116
Umicore SA
 
82,597
1,838,757
Warehouses de Pauw
 
69,231
1,842,650
Warehouses de Pauw rights (b)(c)
 
69,231
82,749
TOTAL BELGIUM
 
 
52,641,620
Brazil - 0.0%
 
 
 
Yara International ASA
 
65,305
1,866,529
Burkina Faso - 0.0%
 
 
 
Endeavour Mining PLC
 
72,812
1,549,427
Chile - 0.1%
 
 
 
Antofagasta PLC
 
156,474
4,321,038
China - 0.4%
 
 
 
BOC Hong Kong (Holdings) Ltd.
 
1,470,000
4,505,687
ESR Group Ltd. (d)
 
679,800
744,973
Prosus NV
 
579,815
19,400,581
SITC International Holdings Co. Ltd.
 
529,000
1,147,187
Wharf Holdings Ltd.
 
422,000
1,357,725
Wilmar International Ltd.
 
757,700
1,781,030
TOTAL CHINA
 
 
28,937,183
Denmark - 3.6%
 
 
 
A.P. Moller - Maersk A/S:
 
 
 
 Series A
 
1,195
1,703,015
 Series B
 
1,636
2,385,331
Carlsberg A/S Series B
 
39,041
5,251,517
Coloplast A/S Series B
 
49,996
6,027,776
Danske Bank A/S
 
273,397
7,901,987
Demant A/S (b)
 
39,747
1,913,161
DSV A/S
 
69,467
9,917,751
Genmab A/S (b)
 
26,208
7,276,130
Novo Nordisk A/S Series B
 
1,293,187
165,841,297
Novonesis (NOVOZYMES) B Series B
 
147,922
8,224,826
ORSTED A/S (b)(d)
 
75,019
4,140,112
Pandora A/S
 
33,491
5,125,073
Rockwool International A/S Series B
 
3,631
1,192,860
Svitzer A/S
 
5,662
190,262
Tryg A/S
 
137,704
2,728,899
Vestas Wind Systems A/S (b)
 
400,425
10,794,269
TOTAL DENMARK
 
 
240,614,266
Finland - 1.0%
 
 
 
Elisa Corp. (A Shares)
 
56,095
2,533,469
Fortum Corp.
 
176,937
2,337,680
Kesko Oyj
 
107,717
1,842,738
Kone OYJ (B Shares)
 
135,006
6,598,791
Metso Corp.
 
261,544
2,979,603
Neste OYJ
 
167,898
3,823,717
Nokia Corp.
 
2,115,576
7,690,863
Nordea Bank Abp (Helsinki Stock Exchange)
 
1,259,104
14,754,504
Orion Oyj (B Shares)
 
42,472
1,622,222
Sampo Oyj (A Shares)
 
179,038
7,245,350
Stora Enso Oyj (R Shares)
 
229,414
3,072,624
UPM-Kymmene Corp.
 
211,945
7,446,099
Wartsila Corp.
 
186,696
3,458,841
TOTAL FINLAND
 
 
65,406,501
France - 10.0%
 
 
 
Accor SA
 
75,215
3,315,931
Adevinta ASA Class B (b)
 
137,931
1,408,055
Aeroports de Paris SA
 
13,658
1,741,810
Air Liquide SA
 
157,064
30,718,360
Air Liquide SA
 
50,800
9,935,394
Airbus Group NV
 
234,961
38,664,657
Alstom SA (a)
 
113,655
1,792,120
Amundi SA (d)
 
24,205
1,698,426
Arkema SA
 
23,672
2,451,751
AXA SA
 
719,443
24,907,094
bioMerieux SA
 
16,334
1,743,164
BNP Paribas SA
 
409,379
29,459,672
Bollore SA
 
284,116
1,849,572
Bouygues SA
 
75,909
2,803,759
Bureau Veritas SA
 
125,873
3,683,374
Capgemini SA
 
61,612
12,949,676
Carrefour SA
 
225,379
3,791,602
Compagnie de St.-Gobain
 
180,683
14,288,883
Compagnie Generale des Etablissements Michelin SCA Series B
 
269,163
10,340,879
Covivio
 
19,906
995,479
Covivio rights (b)(c)
 
19,906
70,104
Credit Agricole SA
 
423,521
6,553,240
Danone SA
 
255,201
15,972,347
Dassault Aviation SA
 
7,964
1,710,035
Dassault Systemes SA
 
264,914
10,398,384
Edenred SA
 
99,040
4,699,221
Eiffage SA
 
29,206
3,126,215
Engie SA
 
546,871
9,494,018
Engie SA
 
177,100
3,074,565
EssilorLuxottica SA
 
116,881
25,046,869
Eurazeo SA
 
16,675
1,509,063
Gecina SA
 
18,123
1,856,723
Getlink SE
 
140,967
2,407,040
Hermes International SCA
 
12,547
30,141,247
Ipsen SA
 
14,871
1,810,805
Kering SA
 
29,512
10,393,418
Klepierre SA
 
84,821
2,286,560
L'Oreal SA
 
72,053
33,806,870
L'Oreal SA
 
23,300
10,932,231
La Francaise des Jeux SAEM (d)
 
41,427
1,567,718
Legrand SA
 
104,534
10,742,603
LVMH Moet Hennessy Louis Vuitton SE
 
109,422
89,883,207
Orange SA
 
738,669
8,221,596
Pernod Ricard SA
 
81,074
12,286,149
Publicis Groupe SA
 
90,739
10,012,756
Remy Cointreau SA
 
9,092
862,556
Renault SA
 
76,307
3,806,264
Rexel SA
 
89,864
2,342,907
Safran SA
 
135,466
29,373,366
Sartorius Stedim Biotech
 
11,516
2,494,845
SEB SA
 
9,818
1,165,128
Societe Generale Series A
 
286,728
7,725,900
Sodexo SA
 
34,889
3,043,842
Teleperformance
 
22,671
2,068,145
Thales SA
 
37,557
6,330,767
TotalEnergies SE
 
860,330
62,458,858
Unibail-Rodamco-Westfield NV
 
46,944
3,931,741
Veolia Environnement SA
 
273,354
8,497,943
VINCI SA
 
198,348
23,241,637
Vivendi SA
 
264,011
2,695,245
Worldline SA (b)(d)
 
94,829
992,180
TOTAL FRANCE
 
 
667,573,966
Germany - 7.9%
 
 
 
adidas AG
 
64,218
15,515,973
Allianz SE
 
155,219
44,048,806
BASF AG
 
353,917
18,565,855
Bayer AG
 
389,491
11,368,432
Bayerische Motoren Werke AG (BMW)
 
126,441
13,824,381
Bechtle AG
 
32,302
1,561,613
Beiersdorf AG
 
39,961
5,993,949
Brenntag SE
 
52,673
4,208,077
Carl Zeiss Meditec AG
 
15,874
1,678,827
Commerzbank AG
 
418,224
6,230,748
Continental AG
 
43,715
2,838,347
Covestro AG (b)(d)
 
75,021
3,761,332
Daimler Truck Holding AG
 
212,010
9,572,937
Deutsche Bank AG
 
768,185
12,305,304
Deutsche Borse AG
 
75,297
14,516,658
Deutsche Lufthansa AG
 
235,928
1,690,467
Deutsche Telekom AG
 
1,284,238
29,416,198
DHL Group
 
393,007
16,455,176
E.ON SE
 
889,880
11,776,031
Evonik Industries AG
 
91,894
1,916,764
Fresenius Medical Care AG & Co. KGaA
 
81,496
3,431,202
Fresenius SE & Co. KGaA
 
167,593
5,002,581
GEA Group AG
 
64,565
2,611,453
Hannover Reuck SE
 
23,910
5,930,093
HeidelbergCement AG
 
51,692
5,220,882
Henkel AG & Co. KGaA
 
41,240
2,965,506
Infineon Technologies AG
 
517,644
17,963,812
Knorr-Bremse AG
 
28,608
2,122,872
LEG Immobilien AG
 
29,226
2,492,704
Mercedes-Benz Group AG (Germany)
 
317,968
24,051,377
Merck KGaA
 
51,236
8,144,446
MTU Aero Engines AG
 
21,357
5,164,710
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
54,075
23,787,584
Nemetschek SE
 
22,775
2,030,723
Puma AG
 
41,635
1,922,329
Rational AG
 
2,018
1,731,502
Rheinmetall AG
 
17,271
9,532,829
RWE AG
 
250,889
8,739,849
SAP SE
 
413,799
74,718,464
Scout24 AG (d)
 
29,578
2,181,186
Siemens AG
 
301,180
56,421,125
Siemens Energy AG (b)
 
206,123
4,245,507
Siemens Healthineers AG (d)
 
111,790
6,199,588
Symrise AG
 
52,694
5,662,868
Talanx AG
 
25,460
1,920,983
Volkswagen AG
 
11,854
1,673,465
Vonovia SE
 
290,736
8,401,115
Zalando SE (b)(d)
 
88,409
2,313,244
TOTAL GERMANY
 
 
523,829,874
Hong Kong - 1.7%
 
 
 
AIA Group Ltd.
 
4,503,400
32,984,514
CK Asset Holdings Ltd.
 
776,425
3,311,900
CK Infrastructure Holdings Ltd.
 
248,500
1,403,811
CLP Holdings Ltd.
 
651,500
5,124,740
Futu Holdings Ltd. ADR (b)
 
21,778
1,400,543
Hang Lung Properties Ltd.
 
709,000
782,532
Hang Seng Bank Ltd.
 
303,900
4,007,402
Henderson Land Development Co. Ltd.
 
573,021
1,727,557
HKT Trust/HKT Ltd. unit
 
1,494,000
1,649,343
Hong Kong & China Gas Co. Ltd.
 
4,453,074
3,385,905
Hong Kong Exchanges and Clearing Ltd.
 
477,660
15,177,372
Hongkong Land Holdings Ltd.
 
435,220
1,390,606
Jardine Matheson Holdings Ltd.
 
62,861
2,405,637
Link (REIT)
 
1,024,396
4,389,327
MTR Corp. Ltd.
 
612,690
2,013,568
Power Assets Holdings Ltd.
 
546,500
3,134,809
Prudential PLC
 
1,090,531
9,484,730
Sino Land Ltd.
 
1,531,661
1,637,651
Sun Hung Kai Properties Ltd.
 
575,000
5,304,352
Swire Pacific Ltd. (A Shares)
 
169,000
1,431,212
Swire Properties Ltd.
 
461,200
953,839
Techtronic Industries Co. Ltd.
 
545,500
7,538,429
WH Group Ltd. (d)
 
3,288,500
2,390,214
Wharf Real Estate Investment Co. Ltd.
 
659,000
2,044,556
TOTAL HONG KONG
 
 
115,074,549
Ireland - 0.5%
 
 
 
AerCap Holdings NV (b)
 
79,379
6,706,732
AIB Group PLC
 
619,675
3,217,969
Bank of Ireland Group PLC
 
419,398
4,495,957
Kerry Group PLC Class A
 
62,639
5,401,346
Kingspan Group PLC (Ireland)
 
61,663
5,517,896
Smurfit Kappa Group PLC
 
103,238
4,489,655
TOTAL IRELAND
 
 
29,829,555
Israel - 0.6%
 
 
 
Azrieli Group
 
16,738
1,083,017
Bank Hapoalim BM (Reg.)
 
504,318
4,563,817
Bank Leumi le-Israel BM
 
604,369
4,732,675
Check Point Software Technologies Ltd. (b)
 
37,122
5,546,769
Elbit Systems Ltd. (Israel)
 
10,515
2,147,037
Global-e Online Ltd. (a)(b)
 
39,139
1,312,331
Icl Group Ltd.
 
305,147
1,436,984
Israel Discount Bank Ltd. (Class A)
 
487,884
2,513,972
Mizrahi Tefahot Bank Ltd.
 
61,589
2,250,135
NICE Ltd. (b)
 
25,111
5,619,968
Teva Pharmaceutical Industries Ltd. sponsored ADR (b)
 
444,294
6,242,331
Wix.com Ltd. (b)
 
21,413
2,545,363
TOTAL ISRAEL
 
 
39,994,399
Italy - 2.4%
 
 
 
Amplifon SpA
 
49,104
1,647,051
Assicurazioni Generali SpA
 
401,164
9,803,999
Banco BPM SpA
 
478,006
3,154,632
Coca-Cola HBC AG
 
87,160
2,820,789
Davide Campari Milano NV
 
242,774
2,440,613
DiaSorin SpA
 
8,825
894,149
Enel SpA
 
3,222,746
21,181,301
Eni SpA
 
869,325
13,962,830
Ferrari NV (Italy)
 
49,950
20,640,331
FinecoBank SpA
 
242,826
3,742,038
Infrastrutture Wireless Italiane SpA (d)
 
132,530
1,425,675
Intesa Sanpaolo SpA
 
5,795,797
21,693,691
Leonardo SpA
 
160,580
3,706,754
Mediobanca SpA
 
202,408
2,883,731
Moncler SpA
 
81,673
5,588,791
Nexi SpA (b)(d)
 
232,902
1,361,573
Poste Italiane SpA (d)
 
181,099
2,303,765
Prysmian SpA
 
104,311
5,697,393
Recordati SpA
 
41,240
2,202,767
Snam SpA
 
801,674
3,667,877
Telecom Italia SpA (a)(b)
 
3,929,112
934,653
Terna - Rete Elettrica Nazionale
 
559,230
4,490,400
UniCredit SpA
 
610,694
22,415,134
TOTAL ITALY
 
 
158,659,937
Japan - 22.4%
 
 
 
Advantest Corp.
 
303,600
9,502,884
AEON Co. Ltd.
 
259,400
5,423,612
AGC, Inc.
 
77,730
2,874,008
Aisin Seiki Co. Ltd.
 
58,090
2,209,526
Ajinomoto Co., Inc.
 
186,100
6,919,472
Ana Holdings, Inc.
 
63,000
1,196,497
Asahi Group Holdings
 
191,100
6,537,337
ASAHI INTECC Co. Ltd.
 
85,700
1,255,735
Asahi Kasei Corp.
 
499,000
3,479,095
Astellas Pharma, Inc.
 
718,100
6,892,253
Azbil Corp.
 
48,100
1,343,433
Bandai Namco Holdings, Inc.
 
238,100
4,448,941
Bridgestone Corp.
 
226,300
9,985,943
Brother Industries Ltd.
 
91,500
1,618,541
Canon, Inc.
 
396,400
10,728,681
Capcom Co. Ltd.
 
136,600
2,248,769
Central Japan Railway Co.
 
306,600
7,011,324
Chiba Bank Ltd.
 
209,100
1,766,282
Chubu Electric Power Co., Inc.
 
254,160
3,262,389
Chugai Pharmaceutical Co. Ltd.
 
266,200
8,466,190
Concordia Financial Group Ltd.
 
418,000
2,252,241
Dai Nippon Printing Co. Ltd.
 
80,620
2,348,148
Dai-ichi Mutual Life Insurance Co.
 
372,900
8,636,753
Daifuku Co. Ltd.
 
119,800
2,453,960
Daiichi Sankyo Kabushiki Kaisha
 
733,100
24,674,468
Daikin Industries Ltd.
 
104,600
14,276,993
Daito Trust Construction Co. Ltd.
 
23,300
2,497,629
Daiwa House Industry Co. Ltd.
 
235,600
6,629,528
Daiwa Securities Group, Inc.
 
529,500
3,891,327
DENSO Corp.
 
749,500
12,773,820
Dentsu Group, Inc.
 
79,900
2,161,549
Disco Corp.
 
36,500
10,396,871
East Japan Railway Co.
 
360,300
6,603,928
Eisai Co. Ltd.
 
100,200
4,115,120
ENEOS Holdings, Inc.
 
1,142,500
5,278,595
FANUC Corp.
 
378,000
11,196,095
Fast Retailing Co. Ltd.
 
69,400
18,145,953
Fuji Electric Co. Ltd.
 
50,100
3,116,417
FUJIFILM Holdings Corp.
 
443,700
9,438,603
Fujitsu Ltd.
 
698,000
10,782,811
GLP J-REIT
 
1,845
1,500,561
Hamamatsu Photonics K.K.
 
55,300
2,026,284
Hankyu Hanshin Holdings, Inc.
 
90,300
2,367,507
Hikari Tsushin, Inc.
 
8,000
1,300,175
Hirose Electric Co. Ltd.
 
11,630
1,234,476
Hitachi Construction Machinery Co. Ltd.
 
42,400
1,211,041
Hitachi Ltd.
 
367,400
33,896,580
Honda Motor Co. Ltd.
 
1,830,700
20,828,938
Hoshizaki Corp.
 
42,900
1,478,279
Hoya Corp.
 
139,100
16,127,230
Hulic Co. Ltd.
 
151,400
1,395,099
Ibiden Co. Ltd.
 
44,400
1,687,800
Idemitsu Kosan Co. Ltd.
 
381,815
2,586,842
Iida Group Holdings Co. Ltd.
 
60,800
776,168
INPEX Corp.
 
385,000
5,767,224
Isuzu Motors Ltd.
 
231,500
2,933,766
Itochu Corp.
 
471,100
21,253,569
Japan Airlines Co. Ltd.
 
56,900
1,008,198
Japan Exchange Group, Inc.
 
199,100
4,663,027
Japan Post Bank Co. Ltd.
 
573,700
5,823,233
Japan Post Holdings Co. Ltd.
 
823,400
7,907,358
Japan Post Insurance Co. Ltd.
 
75,600
1,419,321
Japan Real Estate Investment Corp.
 
505
1,712,527
Japan Retail Fund Investment Corp.
 
2,757
1,664,480
Japan Tobacco, Inc.
 
475,400
12,789,028
JFE Holdings, Inc.
 
228,500
3,410,528
Kajima Corp.
 
167,900
3,216,475
Kansai Electric Power Co., Inc.
 
279,600
4,188,246
Kao Corp.
 
184,900
7,627,537
Kawasaki Kisen Kaisha Ltd.
 
156,000
2,198,023
KDDI Corp.
 
593,500
16,468,911
KDX Realty Investment Corp.
 
1,634
1,611,675
Keisei Electric Railway Co.
 
54,800
2,041,462
Keyence Corp.
 
77,100
33,906,256
Kikkoman Corp.
 
269,500
3,211,203
Kintetsu Group Holdings Co. Ltd.
 
71,400
1,835,593
Kirin Holdings Co. Ltd.
 
308,200
4,498,979
Kobe Bussan Co. Ltd.
 
59,300
1,280,719
Koito Manufacturing Co. Ltd.
 
80,200
1,078,749
Komatsu Ltd.
 
366,800
10,951,235
Konami Group Corp.
 
39,600
2,389,358
Kubota Corp.
 
396,000
6,351,735
Kyocera Corp.
 
509,300
6,207,676
Kyowa Hakko Kirin Co., Ltd.
 
106,500
1,788,545
Lasertec Corp.
 
29,900
6,449,593
LY Corp.
 
1,053,900
2,532,136
M3, Inc.
 
174,000
1,840,603
Makita Corp.
 
88,320
2,556,943
Marubeni Corp.
 
567,900
10,117,912
MatsukiyoCocokara & Co.
 
135,300
1,918,653
Mazda Motor Corp.
 
224,300
2,538,958
McDonald's Holdings Co. (Japan) Ltd. (a)
 
34,100
1,500,014
Meiji Holdings Co. Ltd.
 
92,600
2,071,867
Minebea Mitsumi, Inc.
 
143,210
2,682,374
Misumi Group, Inc.
 
112,250
1,824,945
Mitsubishi Chemical Holdings Corp.
 
505,000
2,946,103
Mitsubishi Corp.
 
1,367,100
31,265,005
Mitsubishi Electric Corp.
 
766,100
13,353,067
Mitsubishi Estate Co. Ltd.
 
446,700
8,185,650
Mitsubishi Heavy Industries Ltd.
 
1,270,000
11,355,219
Mitsubishi UFJ Financial Group, Inc.
 
4,400,300
43,832,958
Mitsubishi UFJ Lease & Finance Co. Ltd.
 
318,200
2,060,678
Mitsui & Co. Ltd.
 
512,900
24,760,604
Mitsui Chemicals, Inc.
 
67,300
1,915,554
Mitsui Fudosan Co. Ltd.
 
1,059,000
10,777,510
Mitsui OSK Lines Ltd.
 
136,400
4,329,280
Mizuho Financial Group, Inc.
 
956,220
18,482,879
MonotaRO Co. Ltd.
 
98,800
1,184,106
MS&AD Insurance Group Holdings, Inc.
 
510,000
9,169,313
Murata Manufacturing Co. Ltd.
 
683,300
12,485,376
NEC Corp.
 
97,400
7,051,954
Nexon Co. Ltd.
 
136,110
2,122,138
Nidec Corp.
 
165,600
7,755,523
Nintendo Co. Ltd.
 
411,800
20,083,076
Nippon Building Fund, Inc.
 
604
2,307,760
Nippon Express Holdings, Inc.
 
28,600
1,463,127
Nippon Paint Holdings Co. Ltd.
 
374,000
2,393,980
Nippon Prologis REIT, Inc.
 
896
1,546,145
Nippon Sanso Holdings Corp.
 
68,300
2,028,675
Nippon Steel & Sumitomo Metal Corp.
 
339,200
7,604,499
Nippon Telegraph & Telephone Corp.
 
11,840,900
12,784,175
Nippon Yusen KK
 
182,100
5,169,904
Nissan Chemical Corp.
 
49,600
1,690,774
Nissan Motor Co. Ltd.
 
955,300
3,496,114
Nissin Food Holdings Co. Ltd.
 
79,100
2,110,827
Nitori Holdings Co. Ltd.
 
31,800
4,255,892
Nitto Denko Corp.
 
57,000
4,713,085
Nomura Holdings, Inc.
 
1,192,300
6,784,171
Nomura Real Estate Holdings, Inc.
 
43,300
1,212,276
Nomura Real Estate Master Fund, Inc.
 
1,612
1,540,944
Nomura Research Institute Ltd.
 
153,420
3,712,442
NTT Data Corp.
 
250,600
3,918,838
Obayashi Corp.
 
256,100
2,858,280
OBIC Co. Ltd.
 
27,700
3,558,523
Odakyu Electric Railway Co. Ltd.
 
123,500
1,388,471
Olympus Corp.
 
477,500
6,651,442
OMRON Corp.
 
69,100
2,371,678
Ono Pharmaceutical Co. Ltd.
 
144,300
2,078,406
Oracle Corp. Japan
 
15,200
1,140,678
Oriental Land Co. Ltd.
 
432,600
11,936,185
ORIX Corp.
 
465,100
9,518,465
Osaka Gas Co. Ltd.
 
147,930
3,289,355
Otsuka Corp.
 
90,000
1,789,931
Otsuka Holdings Co. Ltd.
 
166,000
7,097,639
Pan Pacific International Holdings Ltd.
 
151,200
3,551,087
Panasonic Holdings Corp.
 
875,800
7,644,382
Rakuten Group, Inc. (b)
 
594,900
2,861,139
Recruit Holdings Co. Ltd.
 
571,300
24,604,383
Renesas Electronics Corp.
 
582,200
9,452,455
Resona Holdings, Inc.
 
843,920
5,336,738
Ricoh Co. Ltd.
 
216,400
1,866,895
ROHM Co. Ltd.
 
130,000
1,868,731
SBI Holdings, Inc. Japan
 
98,600
2,400,727
Screen Holdings Co. Ltd.
 
32,200
3,322,304
SCSK Corp.
 
61,700
1,121,657
Secom Co. Ltd.
 
83,400
5,793,173
Seiko Epson Corp.
 
113,900
1,873,654
Sekisui Chemical Co. Ltd.
 
151,700
2,206,939
Sekisui House Ltd.
 
237,100
5,448,643
Seven & i Holdings Co. Ltd.
 
891,600
11,520,543
SG Holdings Co. Ltd.
 
126,300
1,478,353
Sharp Corp. (b)
 
102,600
538,564
Shimadzu Corp.
 
93,400
2,537,497
SHIMANO, Inc.
 
30,300
4,924,144
SHIMIZU Corp.
 
205,300
1,271,723
Shin-Etsu Chemical Co. Ltd.
 
714,000
27,638,183
Shionogi & Co. Ltd.
 
97,600
4,557,995
Shiseido Co. Ltd.
 
158,800
4,250,799
Shizuoka Financial Group
 
184,600
1,723,028
SMC Corp.
 
22,700
11,925,823
SoftBank Corp.
 
1,140,100
13,751,528
SoftBank Group Corp.
 
407,800
20,055,848
Sompo Holdings, Inc.
 
353,400
6,993,832
Sony Group Corp.
 
499,900
41,317,420
Square Enix Holdings Co. Ltd.
 
33,800
1,221,774
Subaru Corp.
 
239,300
5,343,328
Sumco Corp.
 
138,100
2,059,529
Sumitomo Corp.
 
412,000
10,834,433
Sumitomo Electric Industries Ltd.
 
283,400
4,380,321
Sumitomo Metal Mining Co. Ltd.
 
97,530
3,258,345
Sumitomo Mitsui Financial Group, Inc.
 
503,600
28,606,401
Sumitomo Mitsui Trust Holdings, Inc.
 
260,300
5,472,764
Sumitomo Realty & Development Co. Ltd.
 
113,500
3,927,545
Suntory Beverage & Food Ltd.
 
54,900
1,786,185
Suzuki Motor Corp.
 
623,200
7,257,654
Sysmex Corp.
 
200,100
3,199,674
T&D Holdings, Inc.
 
194,400
3,172,089
Taisei Corp.
 
67,000
2,452,898
Takeda Pharmaceutical Co. Ltd.
 
627,103
16,481,566
TDK Corp.
 
154,100
6,874,554
Terumo Corp.
 
533,400
9,048,668
TIS, Inc.
 
86,800
1,853,751
Tobu Railway Co. Ltd.
 
74,500
1,478,116
Toho Co. Ltd.
 
44,170
1,479,800
Tokio Marine Holdings, Inc.
 
714,300
22,576,448
Tokyo Electric Power Co., Inc. (b)
 
605,700
3,767,623
Tokyo Electron Ltd.
 
186,900
40,995,752
Tokyo Gas Co. Ltd.
 
146,800
3,292,323
Tokyu Corp.
 
197,200
2,334,367
Toppan Holdings, Inc.
 
91,400
2,168,370
Toray Industries, Inc.
 
547,000
2,500,185
Toto Ltd.
 
56,600
1,531,851
Toyota Industries Corp.
 
58,170
5,527,713
Toyota Motor Corp.
 
4,202,350
95,849,702
Toyota Tsusho Corp.
 
84,240
5,355,974
Trend Micro, Inc.
 
52,800
2,601,890
Unicharm Corp.
 
160,000
4,754,104
USS Co. Ltd.
 
162,200
1,239,094
West Japan Railway Co.
 
174,600
3,314,160
Yakult Honsha Co. Ltd.
 
101,200
1,979,446
Yamaha Corp.
 
51,700
1,089,484
Yamaha Motor Co. Ltd.
 
354,800
3,309,299
Yamato Holdings Co. Ltd.
 
104,800
1,384,061
Yaskawa Electric Corp.
 
95,400
3,930,731
Yokogawa Electric Corp.
 
90,100
1,990,832
Zensho Holdings Co. Ltd.
 
38,300
1,484,478
ZOZO, Inc.
 
54,000
1,163,078
TOTAL JAPAN
 
 
1,488,194,556
Jordan - 0.0%
 
 
 
Hikma Pharmaceuticals PLC
 
65,391
1,572,087
Korea (South) - 0.0%
 
 
 
Delivery Hero AG (b)(d)
 
69,379
1,941,054
Luxembourg - 0.1%
 
 
 
ArcelorMittal SA (Netherlands)
 
203,042
5,111,633
Eurofins Scientific SA
 
53,640
3,297,289
TOTAL LUXEMBOURG
 
 
8,408,922
Macau - 0.1%
 
 
 
Galaxy Entertainment Group Ltd.
 
868,000
3,894,623
Sands China Ltd. (b)
 
957,600
2,258,640
TOTAL MACAU
 
 
6,153,263
Netherlands - 4.5%
 
 
 
ABN AMRO Bank NV:
 
 
 
 GDR (Bearer) (d)
 
187,749
3,023,519
 rights (b)(c)
 
187,749
178,326
Adyen BV (b)(d)
 
8,609
10,313,578
AEGON NV
 
575,591
3,584,691
Akzo Nobel NV
 
67,859
4,500,124
Argenx SE (b)
 
23,472
8,768,285
ASM International NV (Netherlands)
 
18,611
11,821,660
ASML Holding NV (Netherlands)
 
159,755
141,967,470
ASR Nederland NV
 
62,508
3,133,300
BE Semiconductor Industries NV
 
30,560
4,093,011
Euronext NV (d)
 
34,000
3,071,508
EXOR NV
 
37,097
4,065,885
Heineken Holding NV
 
51,444
4,147,773
Heineken NV (Bearer)
 
114,182
11,125,364
IMCD NV
 
22,625
3,434,683
ING Groep NV (Certificaten Van Aandelen)
 
1,316,970
20,821,654
JDE Peet's BV
 
38,451
854,347
Koninklijke Ahold Delhaize NV
 
377,571
11,460,857
Koninklijke KPN NV
 
1,330,385
4,834,794
Koninklijke Philips Electronics NV
 
307,959
8,178,217
NN Group NV
 
107,295
4,963,801
OCI NV
 
41,608
1,123,423
Randstad NV
 
43,223
2,177,222
Universal Music Group NV
 
324,959
9,606,256
Wolters Kluwer NV
 
98,466
14,790,420
TOTAL NETHERLANDS
 
 
296,040,168
New Zealand - 0.2%
 
 
 
Auckland International Airport Ltd.
 
534,598
2,453,060
Fisher & Paykel Healthcare Corp.
 
231,889
3,883,619
Mercury Nz Ltd.
 
278,897
1,046,664
Meridian Energy Ltd.
 
510,174
1,799,324
Spark New Zealand Ltd.
 
721,630
2,012,075
Xero Ltd. (b)
 
57,165
4,438,188
TOTAL NEW ZEALAND
 
 
15,632,930
Norway - 0.5%
 
 
 
Aker BP ASA
 
125,976
3,084,617
DNB Bank ASA
 
367,381
6,419,287
Equinor ASA
 
357,346
9,508,397
Gjensidige Forsikring ASA
 
78,868
1,268,732
Kongsberg Gruppen ASA
 
34,693
2,454,760
Mowi ASA
 
185,017
3,263,634
Norsk Hydro ASA
 
523,281
3,215,763
Orkla ASA
 
276,495
1,886,692
Salmar ASA
 
26,288
1,660,083
Telenor ASA
 
248,368
2,859,636
TOTAL NORWAY
 
 
35,621,601
Portugal - 0.2%
 
 
 
Energias de Portugal SA
 
1,249,947
4,703,485
Galp Energia SGPS SA Class B
 
184,664
3,980,883
Jeronimo Martins SGPS SA
 
111,686
2,306,352
TOTAL PORTUGAL
 
 
10,990,720
Singapore - 1.5%
 
 
 
CapitaLand Ascendas REIT
 
1,491,889
2,825,970
CapitaLand Integrated Commercial Trust
 
2,130,827
3,037,485
CapitaLand Investment Ltd.
 
1,025,865
1,983,873
City Developments Ltd.
 
197,100
883,389
DBS Group Holdings Ltd.
 
789,805
20,106,388
Genting Singapore Ltd.
 
2,384,800
1,591,545
Grab Holdings Ltd. (b)
 
755,634
2,644,719
Jardine Cycle & Carriage Ltd.
 
39,000
752,632
Keppel Ltd.
 
578,600
2,894,107
Mapletree Logistics Trust (REIT)
 
1,388,360
1,362,402
Mapletree Pan Asia Commercial Trust
 
930,900
853,052
Oversea-Chinese Banking Corp. Ltd.
 
1,341,964
13,931,698
Sea Ltd. ADR (b)
 
146,206
9,238,757
Seatrium Ltd. (a)(b)
 
17,489,309
1,249,368
Sembcorp Industries Ltd.
 
352,500
1,377,596
Singapore Airlines Ltd. (a)
 
587,190
2,801,848
Singapore Exchange Ltd.
 
338,000
2,305,676
Singapore Technologies Engineering Ltd.
 
615,700
1,808,609
Singapore Telecommunications Ltd.
 
3,280,800
5,689,810
STMicroelectronics NV (France)
 
271,035
10,728,890
United Overseas Bank Ltd.
 
501,572
11,130,286
TOTAL SINGAPORE
 
 
99,198,100
South Africa - 0.3%
 
 
 
Anglo American PLC (United Kingdom)
 
503,792
16,462,653
Spain - 2.5%
 
 
 
Acciona SA
 
9,735
1,129,305
ACS Actividades de Construccion y Servicios SA
 
83,694
3,356,579
Aena SME SA (d)
 
29,755
5,449,078
Amadeus IT Holding SA Class A
 
178,770
11,347,238
Banco Bilbao Vizcaya Argentaria SA
 
2,313,293
25,015,881
Banco Santander SA (Spain)
 
6,414,527
31,304,852
CaixaBank SA
 
1,487,320
7,843,470
Cellnex Telecom SA (d)
 
182,156
6,021,111
EDP Renovaveis SA
 
121,148
1,663,951
Enagas SA
 
98,146
1,441,242
Endesa SA
 
125,269
2,286,049
Grifols SA (a)(b)
 
117,631
1,085,383
Iberdrola SA
 
2,432,120
29,821,626
Industria de Diseno Textil SA
 
432,152
19,762,104
Redeia Corp. SA
 
160,057
2,673,221
Repsol SA
 
481,191
7,552,810
Telefonica SA
 
1,940,081
8,690,782
TOTAL SPAIN
 
 
166,444,682
Sweden - 3.0%
 
 
 
Alfa Laval AB
 
114,911
4,938,283
ASSA ABLOY AB (B Shares)
 
397,503
10,502,593
Atlas Copco AB:
 
 
 
 (A Shares)
 
1,066,378
18,678,771
 (B Shares)
 
616,469
9,369,765
Beijer Ref AB (B Shares) (a)
 
151,808
2,182,677
Boliden AB
 
107,867
3,602,940
Epiroc AB:
 
 
 
 (A Shares)
 
262,423
4,851,513
 (B Shares)
 
153,786
2,576,031
EQT AB
 
148,110
4,062,797
Essity AB (B Shares)
 
241,666
6,021,695
Evolution AB (d)
 
72,676
8,124,644
Fastighets AB Balder (b)
 
257,127
1,654,699
Getinge AB (B Shares)
 
90,207
1,923,582
H&M Hennes & Mauritz AB (B Shares) (a)
 
256,389
4,112,079
Hexagon AB (B Shares)
 
823,516
8,724,320
Holmen AB (B Shares)
 
30,057
1,177,144
Husqvarna AB (B Shares)
 
137,915
1,134,817
Industrivarden AB:
 
 
 
 (A Shares)
 
51,218
1,660,109
 (C Shares)
 
59,312
1,920,843
Indutrade AB
 
107,771
2,524,997
Investment AB Latour (B Shares)
 
58,407
1,428,323
Investor AB (B Shares)
 
685,792
16,948,155
L E Lundbergforetagen AB
 
29,974
1,490,486
Lifco AB
 
91,946
2,252,679
Nibe Industrier AB (B Shares)
 
602,003
2,818,714
Saab AB (B Shares)
 
31,582
2,517,871
Sagax AB
 
81,516
2,057,797
Sandvik AB
 
423,406
8,556,179
Securitas AB (B Shares)
 
193,889
1,960,812
Skandinaviska Enskilda Banken AB (A Shares)
 
629,144
8,295,037
Skanska AB (B Shares)
 
134,191
2,336,081
SKF AB (B Shares)
 
134,402
2,805,022
Svenska Cellulosa AB SCA (B Shares)
 
241,316
3,548,443
Svenska Handelsbanken AB (A Shares)
 
578,385
4,959,841
Swedbank AB (A Shares)
 
336,636
6,488,103
Swedish Orphan Biovitrum AB (b)
 
76,741
1,987,394
Tele2 AB (B Shares)
 
213,869
2,000,825
Telefonaktiebolaget LM Ericsson (B Shares)
 
1,162,010
5,897,070
Telia Co. AB
 
930,454
2,132,706
Volvo AB:
 
 
 
 (A Shares)
 
79,114
2,101,973
 (B Shares)
 
598,116
15,381,118
Volvo Car AB (a)
 
296,137
938,629
TOTAL SWEDEN
 
 
198,647,557
Switzerland - 5.9%
 
 
 
ABB Ltd. (Reg.)
 
634,027
30,806,382
Adecco SA (Reg.)
 
63,102
2,213,118
Alcon, Inc. (Switzerland)
 
198,080
15,320,629
Avolta AG (b)
 
39,543
1,495,392
Bachem Holding AG (B Shares)
 
13,310
1,160,507
Baloise Holdings AG
 
18,064
2,727,531
Banque Cantonale Vaudoise
 
11,881
1,243,353
Barry Callebaut AG
 
1,407
2,271,404
BKW AG
 
8,329
1,234,966
Clariant AG (Reg.)
 
85,082
1,275,420
Compagnie Financiere Richemont SA Series A
 
213,049
29,449,130
DSM-Firmenich AG
 
73,759
8,320,239
Ems-Chemie Holding AG
 
2,768
2,219,218
Geberit AG (Reg.)
 
13,258
7,119,009
Givaudan SA
 
3,660
15,711,025
Helvetia Holding AG (Reg.)
 
14,640
1,915,901
Julius Baer Group Ltd.
 
81,758
4,387,001
Kuehne & Nagel International AG
 
21,535
5,709,088
Lindt & Spruengli AG
 
42
4,861,354
Lindt & Spruengli AG (participation certificate)
 
388
4,478,303
Logitech International SA (Reg.)
 
65,187
5,110,008
Lonza Group AG
 
29,517
16,293,197
Novartis AG
 
812,220
78,832,087
Partners Group Holding AG
 
8,993
11,636,849
Sandoz Group AG
 
162,413
5,519,919
Schindler Holding AG:
 
 
 
 (participation certificate)
 
16,200
4,053,304
 (Reg.)
 
9,258
2,260,996
SGS SA (Reg.)
 
61,940
5,461,905
Sig Group AG
 
120,598
2,413,928
Sika AG
 
60,445
17,313,210
Sonova Holding AG
 
20,095
5,583,098
Straumann Holding AG
 
44,257
5,921,796
Swatch Group AG (Bearer)
 
13,302
2,794,901
Swatch Group AG (Bearer) (Reg.)
 
11,718
486,949
Swiss Life Holding AG
 
11,699
7,903,268
Swiss Prime Site AG
 
30,252
2,800,593
Swisscom AG
 
10,276
5,628,465
Temenos AG
 
25,197
1,576,097
UBS Group AG
 
1,303,270
34,408,880
VAT Group AG (d)
 
10,707
5,389,316
Zurich Insurance Group Ltd.
 
57,988
28,020,962
TOTAL SWITZERLAND
 
 
393,328,698
United Arab Emirates - 0.0%
 
 
 
NMC Health PLC (b)(e)
 
55,366
11
United Kingdom - 10.3%
 
 
 
3i Group PLC
 
385,561
13,775,112
Abrdn PLC
 
733,894
1,343,460
Admiral Group PLC
 
103,261
3,521,223
Ashtead Group PLC
 
173,460
12,662,356
Associated British Foods PLC
 
135,169
4,485,995
AstraZeneca PLC (United Kingdom)
 
614,291
92,910,870
Auto Trader Group PLC (d)
 
360,848
3,128,365
Aviva PLC
 
1,085,635
6,317,478
BAE Systems PLC
 
1,201,874
19,989,828
Barclays PLC
 
6,005,996
15,142,887
Barratt Developments PLC
 
384,364
2,183,842
Berkeley Group Holdings PLC
 
41,960
2,471,603
British American Tobacco PLC (United Kingdom)
 
797,711
23,417,825
BT Group PLC
 
2,568,872
3,293,392
Bunzl PLC
 
133,884
5,142,641
Burberry Group PLC
 
142,557
2,039,797
Centrica PLC
 
2,141,772
3,424,263
CK Hutchison Holdings Ltd.
 
1,063,500
5,165,181
Coca-Cola European Partners PLC
 
81,868
5,896,133
Compass Group PLC
 
677,298
18,838,182
Croda International PLC
 
52,705
3,036,032
DCC PLC (United Kingdom)
 
39,161
2,684,009
Diageo PLC
 
885,747
30,611,131
Entain PLC
 
251,928
2,476,190
Flutter Entertainment PLC (b)
 
70,160
13,084,513
Halma PLC
 
150,501
4,150,452
Hargreaves Lansdown PLC
 
140,305
1,426,739
HSBC Holdings PLC (United Kingdom)
 
7,591,498
65,802,750
Imperial Brands PLC
 
331,516
7,575,192
Informa PLC
 
545,728
5,426,675
InterContinental Hotel Group PLC
 
65,500
6,388,478
Intertek Group PLC
 
64,017
3,954,826
J Sainsbury PLC
 
653,710
2,151,565
JD Sports Fashion PLC
 
1,022,041
1,476,318
Kingfisher PLC
 
746,155
2,298,399
Land Securities Group PLC
 
279,092
2,268,550
Legal & General Group PLC
 
2,371,845
6,994,424
Lloyds Banking Group PLC
 
25,195,830
16,260,972
London Stock Exchange Group PLC
 
164,946
18,183,665
M&G PLC
 
897,310
2,254,801
Melrose Industries PLC
 
527,735
4,166,287
National Grid PLC
 
1,473,316
19,325,725
NatWest Group PLC
 
2,261,512
8,535,814
Next PLC
 
48,036
5,406,906
Ocado Group PLC (a)(b)
 
228,478
1,008,082
Pearson PLC
 
248,511
3,015,393
Persimmon PLC
 
125,974
2,052,637
Phoenix Group Holdings PLC
 
296,229
1,813,009
Reckitt Benckiser Group PLC
 
283,023
15,822,969
RELX PLC (London Stock Exchange)
 
746,840
30,685,326
Rentokil Initial PLC
 
1,000,197
5,048,968
Rolls-Royce Holdings PLC (b)
 
3,335,468
17,104,365
Sage Group PLC
 
404,989
5,900,590
Schroders PLC
 
317,907
1,401,465
Segro PLC
 
503,845
5,338,834
Severn Trent PLC
 
106,938
3,296,513
Smith & Nephew PLC
 
346,953
4,203,563
Smiths Group PLC
 
137,071
2,767,837
Spirax-Sarco Engineering PLC
 
29,292
3,237,431
SSE PLC
 
433,445
9,009,761
St. James's Place PLC
 
216,359
1,177,651
Standard Chartered PLC (United Kingdom)
 
898,099
7,716,054
Taylor Wimpey PLC
 
1,393,229
2,296,259
Tesco PLC
 
2,797,316
10,327,889
Unilever PLC
 
990,634
51,246,296
United Utilities Group PLC
 
270,609
3,531,867
Vodafone Group PLC
 
9,127,760
7,697,459
Whitbread PLC
 
74,117
2,933,050
Wise PLC (b)
 
242,480
2,352,724
WPP PLC
 
427,199
4,281,886
TOTAL UNITED KINGDOM
 
 
686,358,724
United States of America - 9.0%
 
 
 
BP PLC
 
6,783,074
43,721,233
CRH PLC
 
274,914
21,421,832
CSL Ltd.
 
191,490
34,023,203
CyberArk Software Ltd. (b)
 
16,579
3,966,526
Experian PLC
 
364,028
14,682,685
Ferrovial SE
 
205,580
7,415,550
GSK PLC
 
1,630,445
33,826,711
Haleon PLC
 
2,744,903
11,592,667
Holcim AG
 
206,566
17,291,181
James Hardie Industries PLC CDI (b)
 
174,456
5,997,440
Monday.com Ltd. (b)
 
11,494
2,176,159
Nestle SA (Reg. S)
 
1,058,088
106,232,245
QIAGEN NV (Germany)
 
87,930
3,667,224
Roche Holding AG:
 
 
 
 (Bearer)
 
12,674
3,319,988
 (participation certificate)
 
278,430
66,715,787
Sanofi SA
 
451,101
44,565,628
Schneider Electric SA
 
215,651
49,171,298
Shell PLC (London)
 
2,576,436
91,588,738
Stellantis NV (Italy)
 
877,715
19,558,243
Swiss Re Ltd.
 
119,560
12,982,844
Tenaris SA
 
187,317
3,133,506
TOTAL UNITED STATES OF AMERICA
 
 
597,050,688
 
TOTAL COMMON STOCKS
 (Cost $5,018,825,464)
 
 
 
6,439,814,983
 
 
 
 
Nonconvertible Preferred Stocks - 0.4%
 
 
Shares
Value ($)
 
Germany - 0.4%
 
 
 
Bayerische Motoren Werke AG (BMW) (non-vtg.)
 
23,222
2,391,513
Dr. Ing. h.c. F. Porsche AG Series F (d)
 
45,175
4,021,770
Henkel AG & Co. KGaA
 
66,912
5,315,607
Porsche Automobil Holding SE (Germany)
 
60,863
3,101,061
Sartorius AG (non-vtg.)
 
10,398
3,132,611
Volkswagen AG
 
81,549
9,990,167
 
 
 
 
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $28,610,948)
 
 
 
27,952,729
 
 
 
 
Government Obligations - 0.0%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.0%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $1,594,881)
 
1,600,000
1,594,837
 
 
 
 
Money Market Funds - 2.3%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
132,145,906
132,172,335
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
19,344,577
19,346,511
 
TOTAL MONEY MARKET FUNDS
 (Cost $151,518,846)
 
 
151,518,846
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.5%
 (Cost $5,200,550,139)
 
 
 
6,620,881,395
NET OTHER ASSETS (LIABILITIES) - 0.5%  
35,965,504
NET ASSETS - 100.0%
6,656,846,899
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
1,680
Jun 2024
190,470,000
(5,718,910)
(5,718,910)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 2.9%
 
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(b)
Non-income producing
 
(c)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(d)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $81,563,929 or 1.2% of net assets.
 
(e)
Level 3 security
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,594,837.
 
(h)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
38,217,789
1,306,600,175
1,212,645,623
3,117,480
(6)
-
132,172,335
0.3%
Fidelity Securities Lending Cash Central Fund 5.39%
21,059,609
54,399,945
56,113,043
69,744
-
-
19,346,511
0.1%
Total
59,277,398
1,361,000,120
1,268,758,666
3,187,224
(6)
-
151,518,846
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
253,614,759
53,214,567
200,400,192
-
Consumer Discretionary
779,395,169
209,871,450
569,523,719
-
Consumer Staples
559,323,115
133,563,716
425,759,399
-
Energy
281,244,581
16,792,170
264,452,411
-
Financials
1,257,373,889
396,743,033
860,630,856
-
Health Care
839,451,904
126,452,354
712,999,539
11
Industrials
1,098,881,761
301,398,545
797,483,216
-
Information Technology
575,245,618
206,790,729
368,454,889
-
Materials
468,923,262
169,873,905
299,049,357
-
Real Estate
148,113,441
28,762,200
119,351,241
-
Utilities
206,200,213
51,299,108
154,901,105
-
 Government Obligations
1,594,837
-
1,594,837
-
  Money Market Funds
151,518,846
151,518,846
-
-
 Total Investments in Securities:
6,620,881,395
1,846,280,623
4,774,600,761
11
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(5,718,910)
(5,718,910)
-
-
  Total Liabilities
(5,718,910)
(5,718,910)
-
-
 Total Derivative Instruments:
(5,718,910)
(5,718,910)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(5,718,910)
Total Equity Risk
0
(5,718,910)
Total Value of Derivatives
0
(5,718,910)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $17,940,568) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $5,049,031,293)
$
6,469,362,549
 
 
Fidelity Central Funds (cost $151,518,846)
151,518,846
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $5,200,550,139)
 
 
$
6,620,881,395
Segregated cash with brokers for derivative instruments
 
 
4,441,130
Foreign currency held at value (cost $4,908,376)
 
 
4,875,843
Receivable for fund shares sold
 
 
2,214,141
Dividends receivable
 
 
26,999,923
Reclaims receivable
 
 
22,372,740
Distributions receivable from Fidelity Central Funds
 
 
570,444
Prepaid expenses
 
 
1,187
Receivable from investment adviser for expense reductions
 
 
57,132
  Total assets
 
 
6,682,413,935
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
331,179
 
 
Payable for fund shares redeemed
2,683,524
 
 
Accrued management fee
196,002
 
 
Payable for daily variation margin on futures contracts
2,583,507
 
 
Other payables and accrued expenses
426,313
 
 
Collateral on securities loaned
19,346,511
 
 
  Total liabilities
 
 
 
25,567,036
Net Assets  
 
 
$
6,656,846,899
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
6,243,350,904
Total accumulated earnings (loss)
 
 
 
413,495,995
Net Assets
 
 
$
6,656,846,899
Net Asset Value, offering price and redemption price per share ($6,656,846,899 ÷ 477,343,912 shares)
 
 
$
13.95
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
103,991,582
Interest  
 
 
142,448
Income from Fidelity Central Funds (including $69,744 from security lending)
 
 
3,187,224
 Income before foreign taxes withheld
 
 
$
107,321,254
Less foreign taxes withheld
 
 
(6,991,272)
 Total income
 
 
 
100,329,982
Expenses
 
 
 
 
Management fee
$
1,107,473
 
 
Custodian fees and expenses
360,016
 
 
Independent trustees' fees and expenses
8,479
 
 
Registration fees
38,355
 
 
Audit
27,670
 
 
Legal
5,273
 
 
Miscellaneous
9,433
 
 
 Total expenses before reductions
 
1,556,699
 
 
 Expense reductions
 
(441,164)
 
 
 Total expenses after reductions
 
 
 
1,115,535
Net Investment income (loss)
 
 
 
99,214,447
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(16,238,839)
 
 
   Fidelity Central Funds
 
(6)
 
 
 Foreign currency transactions
 
(833,869)
 
 
 Futures contracts
 
24,375,906
 
 
Total net realized gain (loss)
 
 
 
7,303,192
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
823,081,753
 
 
 Assets and liabilities in foreign currencies
 
(338,732)
 
 
 Futures contracts
 
(3,450,541)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
819,292,480
Net gain (loss)
 
 
 
826,595,672
Net increase (decrease) in net assets resulting from operations
 
 
$
925,810,119
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
99,214,447
$
118,233,131
Net realized gain (loss)
 
7,303,192
 
 
5,289,032
 
Change in net unrealized appreciation (depreciation)
 
819,292,480
 
212,273,737
 
Net increase (decrease) in net assets resulting from operations
 
925,810,119
 
 
335,795,900
 
Distributions to shareholders
 
(133,160,875)
 
 
(99,352,487)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,488,894,779
 
2,215,904,081
  Reinvestment of distributions
 
131,710,052
 
 
98,336,677
 
Cost of shares redeemed
 
(437,179,234)
 
(1,038,838,311)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
1,183,425,597
 
 
1,275,402,447
 
Total increase (decrease) in net assets
 
1,976,074,841
 
 
1,511,845,860
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
4,680,772,058
 
3,168,926,198
 
End of period
$
6,656,846,899
$
4,680,772,058
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
113,987,382
 
171,776,026
  Issued in reinvestment of distributions
 
9,932,885
 
 
8,419,236
 
Redeemed
 
(31,952,758)
 
(86,009,290)
Net increase (decrease)
 
91,967,509
 
94,185,972
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI International Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
12.15
$
10.88
$
14.52
$
11.04
$
12.19
$
11.27
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.21
 
.39
 
.42
 
.37
 
.28
 
.38
     Net realized and unrealized gain (loss)
 
1.89
 
1.27
 
(3.68)
 
3.36
 
(1.04)
 
.85
  Total from investment operations
 
2.10  
 
1.66  
 
(3.26)  
 
3.73  
 
(.76)
 
1.23
  Distributions from net investment income
 
(.30)
 
(.39)
 
(.38)
 
(.25)
 
(.39)
 
(.31)
     Total distributions
 
(.30)
 
(.39)
 
(.38)
 
(.25)
 
(.39)
 
(.31)
  Net asset value, end of period
$
13.95
$
12.15
$
10.88
$
14.52
$
11.04
$
12.19
 Total Return C,D
 
17.38
%
 
 
15.43%
 
(23.00)%
 
34.09%
 
(6.51)%
 
11.36%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.05% G,H
 
.06%
 
.05%
 
.05%
 
.05%
 
.11%
    Expenses net of fee waivers, if any
 
.04
% G
 
 
.04%
 
.04%
 
.04%
 
.04%
 
.05%
    Expenses net of all reductions
 
.04% G
 
.04%
 
.04%
 
.04%
 
.04%
 
.05%
    Net investment income (loss)
 
3.14% G
 
3.12%
 
3.28%
 
2.66%
 
2.51%
 
3.35%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
6,656,847
$
4,680,772
$
3,168,926
$
6,252,147
$
3,657,921
$
6,490,033
    Portfolio turnover rate I
 
3
% G
 
 
18%
 
20%
 
10%
 
16%
 
4%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAnnualized.
 
HProxy expenses are not annualized.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity SAI International Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value the Fund's investments by major category are as follows:
 
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities.  U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign taxes withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to partnerships, futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$1,646,653,595
Gross unrealized depreciation
(281,151,055)
Net unrealized appreciation (depreciation)
$1,365,502,540
Tax cost
$5,249,659,945
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(456,769,397)
 Long-term
(585,766,005)
Total capital loss carryforward
$(1,042,535,402)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and  in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI International Index Fund
1,145,627,307
83,161,829
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .035% of the Fund's average net assets.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
 
Amount ($)
Fidelity SAI International Index Fund
5,578
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity SAI International Index Fund
7,475
 -
-
9. Expense Reductions.
The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .035% of average net assets. This reimbursement will remain in place through February 28, 2025. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $441,160.
 
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $4.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Fidelity International Fund
Fidelity SAI International Index Fund
42%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI International Index Fund
47%
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI International Index Fund
 
 
 
.04%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,173.80
 
$ .22
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.66
 
$ .20
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9870291.108
SV7-SANN-0624

Item 2.

Code of Ethics


Not applicable.

 

Item 3.

Audit Committee Financial Expert


Not applicable.


Item 4.

Principal Accountant Fees and Services


Not applicable.


Item 5.

Audit Committee of Listed Registrants


Not applicable.


Item 6.  

Investments


(a)

Not applicable.


(b)

Not applicable


Item 7.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies


Not applicable.


Item 8.

Portfolio Managers of Closed-End Management Investment Companies


Not applicable.


Item 9.  

Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers


Not applicable.


Item 10.

Submission of Matters to a Vote of Security Holders


There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Salem Street Trusts Board of Trustees.


Item 11.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Salem Street Trusts (the Trust) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable



assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.


(a)(ii)  There was no change in the Trusts internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trusts internal control over financial reporting.


Item 12.

Disclosure of Securities Lending Activities for Closed-End Management

Investment Companies


Not applicable.


Item 18.

Recovery of Erroneously Awarded Compensation


(a)

Not applicable.


(b)

Not applicable.


Item 19.

Exhibits


(a)

(1)

Not applicable.

(a)

(2)

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

(a)

(3)

Not applicable.

(b)


Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.




SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Fidelity Salem Street Trust



By:

/s/Laura M. Del Prato


Laura M. Del Prato


President and Treasurer (Principal Executive Officer)



Date:

June 21, 2024


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By:

/s/Laura M. Del Prato


Laura M. Del Prato


President and Treasurer (Principal Executive Officer)



Date:

June 21, 2024



By:

/s/John J. Burke III


John J. Burke III


Chief Financial Officer (Principal Financial Officer)



Date:

June 21, 2024