N-CSR 1 main.htm

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 811-2105

Fidelity Salem Street Trust
(Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Scott C. Goebel, 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:	October 31, 2014

Item 1. Reports to Stockholders

Spartan® Emerging Markets Index Fund
Spartan Global ex U.S.

Index Fund
Investor Class

Fidelity Advantage® Class

Annual Report

October 31, 2014

(Fidelity Cover Art)

Shareholder Expense Example	(Click Here)	An example of shareholder expenses.
Spartan® Emerging Markets Index Fund
Performance	(Click Here)	How the fund has done over time.
Management's Discussion of Fund Performance	(Click Here)	The Portfolio Manager's review of fund performance and strategy.
Investment Changes	(Click Here)	A summary of major shifts in the Fund's investments over the past six months.
Investments	(Click Here)	A complete list of the fund's investments with their market values.
Financial Statements	(Click Here)	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Spartan® Global ex U.S. Index Fund
Performance	(Click Here)	How the fund has done over time.
Management's Discussion of Fund Performance	(Click Here)	The Portfolio Manager's review of fund performance and strategy.
Investment Changes	(Click Here)	A summary of major shifts in the Fund's investments over the past six months.
Investments	(Click Here)	A complete list of the fund's investments with their market values.
Financial Statements	(Click Here)	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	(Click Here)	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	(Click Here)
Trustees and Officers	(Click Here)
Distributions	(Click Here)
Board Approval of Investment Advisory Contracts and Management Fees	(Click Here)

Annual Report

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.

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-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q 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.advisor.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.

Annual Report

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including redemption fees and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds 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 (May 1, 2014 to October 31, 2014).

Actual Expenses

The first line of the accompanying table for each class of each fund 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 of the fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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 for each class of each fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' 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. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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.

Annual Report

	Annualized Expense Ratio^B	Beginning Account Value May 1, 2014	Ending Account Value October 31, 2014	Expenses Paid During Period* May 1, 2014 to October 31, 2014
Spartan Emerging Markets Index Fund
Investor Class	.31%
Actual		$ 1,000.00	$ 1,062.80	$ 1.61
Hypothetical^A		$ 1,000.00	$ 1,023.64	$ 1.58
Fidelity Advantage Class	.20%
Actual		$ 1,000.00	$ 1,063.80	$ 1.04
Hypothetical^A		$ 1,000.00	$ 1,024.20	$ 1.02
Institutional Class	.13%
Actual		$ 1,000.00	$ 1,063.70	$ .68
Hypothetical^A		$ 1,000.00	$ 1,024.55	$ .66
Fidelity Advantage Institutional Class	.10%
Actual		$ 1,000.00	$ 1,063.70	$ .52
Hypothetical^A		$ 1,000.00	$ 1,024.70	$ .51
Spartan Global ex U.S. Index Fund
Investor Class	.22%
Actual		$ 1,000.00	$ 974.60	$ 1.09
Hypothetical^A		$ 1,000.00	$ 1,024.10	$ 1.12
Fidelity Advantage Class	.18%
Actual		$ 1,000.00	$ 975.40	$ .90
Hypothetical^A		$ 1,000.00	$ 1,024.30	$ .92
Institutional Class	.13%
Actual		$ 1,000.00	$ 974.60	$ .65
Hypothetical^A		$ 1,000.00	$ 1,024.55	$ .66
Fidelity Advantage Institutional Class	.10%
Actual		$ 1,000.00	$ 975.40	$ .50
Hypothetical^A		$ 1,000.00	$ 1,024.70	$ .51

^A 5% return per year before expenses

^B Annualized expense ratio reflects expenses net of applicable fee waivers.

* Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/ 365 (to reflect the one-half year period).

Annual Report

Spartan Emerging Markets Index Fund

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of the class' distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The $10,000 table and the fund's returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

Periods ended October 31, 2014	Past 1 year	Life of fund ^A
Investor Class	3.18%	1.84%
Fidelity Advantage® Class	3.30%	1.95%

^A From September 8, 2011.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Spartan Emerging Markets Index Fund - Investor Class on September 8, 2011, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the FTSE® Emerging Index performed over the same period.

ang2262340

Annual Report

Spartan Emerging Markets Index Fund

Management's Discussion of Fund Performance

Market Recap: Global equities posted a healthy gain for the 12 months ending October 31, 2014, overcoming an October market decline driven by recessionary pressures in China and tepid growth in Europe. The MSCI ACWI (All Country World Index) Index rose 8.15%, helped by subdued market volatility for much of the period and supported by solid corporate earnings, especially in the United States. Stocks also benefited from easy monetary policies in Japan and the eurozone, as well as increased stimulus efforts in China. All but three of the 24 industry groups that compose the index marked a positive return. The U.S. (+17%) remained a pillar of strength, while a strongly rising dollar in the latter part of the period detracted from investors' returns in most non-U.S. markets. Canada (+5%) notched broad gains outside of its energy and materials sectors, as did Asia-Pacific ex Japan (+4%), led by investor enthusiasm for companies in India. The U.K., Europe and Japan, meanwhile, all underperformed. Among sectors, health care (+24%) led the index, with a strong contribution from the pharmaceuticals, biotechnology & life sciences industry. Information technology (+21%) also outperformed. Conversely, materials (-4%) and energy (-1%) lagged the index due to a higher supply of and lower demand for commodities.

Comments from Patrick Waddell, Senior Portfolio Manager of the Geode Capital Management, LLC, investment management team for Spartan® Emerging Markets Index Fund: For the 12-month period ending October 31, 2014, the fund's Investor Class and Fidelity Advantage® Class shares gained 3.18% and 3.30%, respectively, compared with 3.70% for the benchmark FTSE® Emerging Index. This benchmark return is gross of taxes that the fund incurs. (The fund's performance relative to the index can be affected by Fidelity's methodologies for valuing certain foreign stocks and for incorporating foreign exchange rates, which differ from those used by the index.) Information technology was the strongest-performing sector in the benchmark, gaining 25% for the 12 months. In this group, Tencent Holdings, a Chinese social-media company, led the way. Chip foundry Taiwan Semiconductor Manufacturing also added significant value, as did Taiwanese contract electronics manufacturer Hon Hai Precision Industry and India's Infosys, a business consulting and outsourcing firm. On the negative side, energy and materials stocks lagged. Within the former group, Russian energy giants Gazprom and LUKOIL struggled, as did Brazil's Petrobras. In materials, Brazilian metals and mining concern Vale lost significant ground. Meanwhile, in financials, Russian commercial bank Sberbank struggled in light of the country's economic woes and international sanctions targeting the state-run financial institution.

The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

Annual Report

Spartan Emerging Markets Index

Investment Changes (Unaudited)

Top Ten Stocks as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment)	2.9	2.8
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services)	2.0	1.7
China Mobile Ltd. (Hong Kong, Wireless Telecommunication Services)	1.8	1.5
China Construction Bank Corp. (H Shares) (China, Banks)	1.5	1.5
Industrial & Commercial Bank of China Ltd. (H Shares) (China, Banks)	1.3	1.3
Naspers Ltd. Class N (South Africa, Media)	1.2	1.1
Itau Unibanco Holding SA (Brazil, Banks)	1.1	1.2
Hon Hai Precision Industry Co. Ltd. (Foxconn) (Taiwan, Electronic Equipment & Components)	1.1	1.0
MTN Group Ltd. (South Africa, Wireless Telecommunication Services)	1.1	1.1
Gazprom OAO sponsored ADR (Reg. S) (Russia, Oil, Gas & Consumable Fuels)	1.0	1.2
	15.0
Market Sectors as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	29.5	28.7
Information Technology	12.8	11.9
Energy	10.8	12.1
Telecommunication Services	8.9	8.5
Consumer Staples	8.2	8.7
Materials	8.0	9.3
Consumer Discretionary	6.9	6.5
Industrials	5.9	5.8
Utilities	3.4	3.6
Health Care	2.6	2.0

Geographic Diversification (% of fund's net assets)
As of October 31, 2014
	Taiwan 13.3%
	China 11.9%
	Brazil 11.6%
	India 11.0%
	South Africa 9.0%
	Mexico 5.8%
	Russia 4.9%
	Hong Kong 4.7%
	Malaysia 4.6%
	Other* 23.2%

ang2262362

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

* Includes Short-Term Investments and Net Other Assets (Liabilities).

As of April 30, 2014
	Taiwan 13.3%
	Brazil 13.3%
	China 11.4%
	India 9.5%
	South Africa 9.3%
	Mexico 5.6%
	Russia 5.2%
	Malaysia 5.0%
	Hong Kong 4.1%
	Other* 23.3%

ang2262374

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

* Includes Short-Term Investments and Net Other Assets (Liabilities).

Annual Report

Spartan Emerging Markets Index

Investments October 31, 2014

Showing Percentage of Net Assets

Common Stocks - 92.0%
	Shares		Value
Bermuda - 1.1%
Apollo Solar Energy Technology Holdings Ltd. (d)	1,142,000		$ 260,560
Beijing Enterprises Water Group Ltd.	394,000		282,102
Brilliance China Automotive Holdings Ltd.	268,000		463,443
China Foods Ltd. (a)	52,000		19,459
China Gas Holdings Ltd.	154,000		275,334
China Resources Gas Group Ltd.	66,000		188,660
China Yurun Food Group Ltd. (a)(d)	126,000		53,970
CITIC Resources Holdings Ltd. (a)	194,000		27,037
Cosco Pacific Ltd.	164,735		216,776
Credicorp Ltd.	3,006		480,960
Credicorp Ltd. (United States)	2,114		340,354
GOME Electrical Appliances Holdings Ltd.	1,070,802		168,700
Haier Electronics Group Co. Ltd.	77,000		207,966
Hopson Development Holdings Ltd. (a)	48,000		42,653
Kunlun Energy Co. Ltd.	278,000		369,021
Nine Dragons Paper (Holdings) Ltd.	149,000		115,488
Shenzhen International Holdings Ltd.	96,480		153,331
Sihuan Pharmaceutical Holdings Group Ltd.	368,000		293,848
Sinofert Holdings Ltd. (a)	98,000		14,926
TOTAL BERMUDA			3,974,588
Brazil - 7.1%
AES Tiete SA	6,600		39,820
All America Latina Logistica SA	43,900		120,296
Ambev SA	466,300		3,086,210
B2W Companhia Global do Varejo (a)	9,500		123,758
Banco Bradesco SA	56,680		834,451
Banco do Brasil SA	85,500		956,824
Banco Santander SA (Brasil) unit	95,100		512,363
BB Seguridade Participacoes SA	60,000		800,517
BM&F BOVESPA SA	180,800		795,319
BR Malls Participacoes SA	43,600		350,151
BR Properties SA	17,800		89,937
Brasil Foods SA	87,100		2,266,871
BTG Pactual Participations Ltd. unit	25,500		322,622
CCR SA	85,800		638,851
Centrais Eletricas Brasileiras SA (Electrobras)	24,400		61,249
Cetip SA - Mercados Organizado	21,617		273,931
Cia. Hering SA	12,700		128,133
Cielo SA	72,128		1,184,426
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)	34,500		269,969
Common Stocks - continued
	Shares		Value
Brazil - continued
Companhia Energetica de Minas Gerais (CEMIG)	9,180		$ 55,608
Companhia Paranaense de Energia-Copel	4,400		43,487
Companhia Siderurgica Nacional SA (CSN)	67,900		226,068
Cosan Logistica SA (a)	10,900		18,255
Cosan SA Industria e Comercio	10,900		152,157
CPFL Energia SA	29,500		221,438
Cyrela Brazil Realty SA	25,200		125,293
Drogasil SA	23,600		214,199
Duratex SA	27,797		99,840
Ecorodovias Infraestrutura e Logistica SA	18,300		81,829
Embraer SA	69,000		668,029
Energias do Brasil SA	24,600		96,001
Estacio Participacoes SA	26,200		303,459
Fibria Celulose SA (a)	21,900		265,232
Gerdau SA	21,100		78,170
Guararapes Confeccoes SA	500		18,766
Hypermarcas SA (a)	38,000		265,459
JBS SA	68,900		307,254
Klabin SA unit	55,600		274,870
Kroton Educacional SA	152,248		1,085,072
Light SA	7,900		64,880
Localiza Rent A Car SA	14,090		203,113
Lojas Americanas SA	12,682		62,184
Lojas Renner SA	12,700		380,298
M. Dias Branco SA	4,500		174,995
MRV Engenharia e Participacoes SA	27,300		90,343
Multiplan Empreendimentos Imobiliarios SA	7,800		161,326
Multiplus SA	3,800		53,291
Natura Cosmeticos SA	17,200		249,889
Obrascon Huarte Lain Brasil SA	4,600		28,496
Oi SA (a)	144,300		79,782
Petroleo Brasileiro SA - Petrobras (ON)	369,400		2,183,990
Porto Seguro SA	10,000		119,860
Qualicorp SA (a)	21,800		221,704
Souza Cruz SA	37,700		304,594
Sul America SA unit	24,828		131,860
Terna Participacoes SA unit	8,600		63,861
TIM Participacoes SA	80,700		438,690
Totvs SA	14,100		205,534
Tractebel Energia SA	21,400		291,477
Ultrapar Participacoes SA	38,500		839,794
Usinas Siderurgicas de Minas Gerais SA - Usiminas (a)	20,000		53,271
Common Stocks - continued
	Shares		Value
Brazil - continued
Vale SA	136,600		$ 1,378,183
Via Varejo SA unit (a)	11,700		112,566
Weg SA	26,120		308,119
TOTAL BRAZIL			25,658,284
British Virgin Islands - 0.0%
Tianhe Chemicals Group Ltd. (d)	296,000		52,051
Cayman Islands - 3.8%
Agile Property Holdings Ltd.	100,000		56,361
Agile Property Holdings Ltd. rights 11/11/14 (a)	12,500		826
Anta Sports Products Ltd.	91,000		178,614
Belle International Holdings Ltd.	530,000		674,439
Biostime International Holdings Ltd.	10,500		23,774
Bosideng International Holdings Ltd.	204,000		30,263
China Conch Venture Holdings Ltd.	21,500		45,011
China Dongxiang Group Co. Ltd.	224,000		41,074
China Hongqiao Group Ltd.	103,000		79,391
China Huishan Dairy Hld Co. Ltd. (d)	721,000		161,747
China Resources Cement Holdings Ltd.	183,064		124,483
China Resources Land Ltd.	188,000		447,163
China State Construction International Holdings Ltd.	148,000		228,794
China Zhongwang Holdings Ltd.	162,000		85,319
Cimc Enric Holdings Ltd.	60,000		60,336
Country Garden Holdings Co. Ltd.	487,737		191,621
ENN Energy Holdings Ltd.	74,000		480,142
Evergrande Real Estate Group Ltd. (d)	591,000		227,109
GCL-Poly Energy Holdings Ltd. (a)	1,031,000		347,470
Geely Automobile Holdings Ltd.	445,000		199,203
Golden Eagle Retail Group Ltd. (H Shares)	60,000		73,556
Greentown China Holdings Ltd.	70,500		73,360
Haitian International Holdings Ltd.	58,000		124,415
Hengan International Group Co. Ltd.	73,500		774,746
Kingboard Chemical Holdings Ltd.	66,000		130,030
Kingboard Laminates Holdings Ltd.	112,000		45,674
Kingsoft Corp. Ltd.	73,000		172,362
KWG Property Holding Ltd.	109,737		76,200
Lee & Man Paper Manufacturing Ltd.	152,000		83,414
Li Ning Co. Ltd. (a)	74,000		39,230
Longfor Properties Co. Ltd.	136,500		158,345
Renhe Commercial Holdings Co. Ltd. (a)	764,000		30,553
Sany Heavy Equipment International Holdings Co. Ltd. (a)	47,000		10,417
Shenzhou International Group Holdings Ltd.	55,000		189,885
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
Shimao Property Holdings Ltd.	119,500		$ 257,192
Sino Biopharmaceutical Ltd.	284,000		285,928
SOHO China Ltd.	181,000		132,819
Tencent Holdings Ltd.	457,800		7,357,887
TPK Holding Co. Ltd.	24,775		146,027
Zhongsheng Group Holdings Ltd. Class H	51,500		53,040
TOTAL CAYMAN ISLANDS			13,898,220
Chile - 1.3%
AES Gener SA	235,413		130,549
Aguas Andinas SA	323,104		193,328
Banco de Chile	2,481,733		303,197
Banco de Credito e Inversiones	4,313		241,352
Banco Santander Chile	6,001,691		319,161
CAP SA	7,891		75,561
Cencosud SA	107,841		308,687
Colbun SA (a)	758,856		204,148
Compania Cervecerias Unidas SA	14,816		155,174
Compania de Petroleos de Chile SA (COPEC)	37,839		458,675
CorpBanca SA	16,139,918		215,696
Empresa Nacional de Electricidad SA	339,169		528,128
Empresa Nacional de Electricidad SA sponsored ADR	203		9,476
Empresa Nacional de Telecomunicaciones SA (ENTEL)	11,209		120,774
Empresas CMPC SA	109,107		266,406
Enersis SA	1,924,272		615,318
Enersis SA sponsored ADR	300		4,737
LATAM Airlines Group SA (a)	32,156		387,267
LATAM Airlines Group SA sponsored ADR (a)	212		2,586
S.A.C.I. Falabella	46,082		336,433
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR	168		3,987
TOTAL CHILE			4,880,640
China - 11.9%
Agricultural Bank of China Ltd. (H Shares)	2,584,000		1,200,767
Air China Ltd. (H Shares)	184,000		119,158
Aluminum Corp. of China Ltd. (H Shares) (a)	398,000		177,167
Angang Steel Co. Ltd. (H Shares)	102,000		74,986
Anhui Conch Cement Co. Ltd. (H Shares)	123,000		402,808
Anhui Expressway Co. Ltd. (H Shares)	56,000		34,089
Anhui Gujing Distillery Co. Ltd. (B Shares)	18,800		49,732
AviChina Industry & Technology Co. Ltd. (H Shares)	232,000		176,719
Bank Communications Co. Ltd. (H Shares)	810,000		607,345
Common Stocks - continued
	Shares		Value
China - continued
Bank of China Ltd. (H Shares)	7,526,000		$ 3,602,330
BBMG Corp. (H Shares)	109,500		77,429
Beijing Capital International Airport Co. Ltd. (H Shares)	150,000		110,093
Beijing Jingneng Clean Energy Co. Ltd. (H Shares)	148,000		66,472
Beijing North Star Co. Ltd. (H Shares)	86,000		25,955
Bengang Steel Plates Co. Ltd. (B Shares)	16,200		6,079
BOE Technology Group Co. Ltd. (B Shares) (a)	140,800		46,110
BYD Co. Ltd. (H Shares)	69,500		441,514
Changsha Zoomlion Heavy Industry Science & Technology Development Co. Ltd. (H Shares)	179,800		86,493
China BlueChemical Ltd. (H Shares)	184,000		65,341
China Cinda Asset Mngmt Co. Ltd. (H Shares)	317,000		150,032
China CITIC Bank Corp. Ltd. (H Shares)	741,000		482,724
China Coal Energy Co. Ltd. (H Shares) (d)	408,000		249,946
China Communications Construction Co. Ltd. (H Shares)	428,000		328,569
China Communications Services Corp. Ltd. (H Shares)	266,000		124,902
China Construction Bank Corp. (H Shares)	7,203,000		5,374,154
China Cosco Holdings Co. Ltd. (H Shares) (a)	264,500		118,775
China Eastern Airlines Corp. Ltd. (H Shares) (a)	266,000		101,277
China Everbright Bank Co. Ltd. (H Shares)	350,000		171,607
China Galaxy Securities Co. Ltd. (H Shares)	104,500		83,316
China International Marine Containers (Group) Ltd. (H Shares)	55,900		130,561
China Life Insurance Co. Ltd. (H Shares)	744,000		2,220,075
China Longyuan Power Grid Corp. Ltd. (H Shares)	330,000		351,908
China Machinery Engineering Co. (H Shares)	39,000		22,147
China Merchants Bank Co. Ltd. (H Shares)	465,346		862,391
China Merchants Property Development Co. Ltd. (B Shares)	13,050		21,924
China Minsheng Banking Corp. Ltd. (H Shares)	597,200		599,172
China Molybdenum Co. Ltd. (H Shares)	110,000		65,593
China National Building Materials Co. Ltd. (H Shares)	290,000		268,878
China National Materials Co. Ltd. (H Shares)	68,000		15,444
China Oilfield Services Ltd. (H Shares)	182,000		380,388
China Pacific Insurance Group Co. Ltd. (H Shares)	223,400		835,999
China Petroleum & Chemical Corp. (H Shares)	2,547,000		2,208,789
China Railway Construction Corp. Ltd. (H Shares)	180,500		189,633
China Railway Group Ltd. (H Shares)	363,000		223,936
China Shenhua Energy Co. Ltd. (H Shares)	341,500		962,530
China Shipping Container Lines Co. Ltd. (H Shares) (a)	338,000		96,396
China Shipping Development Co. Ltd. (H Shares) (a)	112,000		73,719
China Southern Airlines Ltd. (H Shares)	156,000		54,776
China Telecom Corp. Ltd. (H Shares)	1,620,000		1,032,678
China Vanke Co. Ltd. (H Shares) (a)	132,000		245,914
Common Stocks - continued
	Shares		Value
China - continued
Chongqing Changan Automobile Co. Ltd. (B Shares)	82,300		$ 181,882
Chongqing Rural Commercial Bank Co. Ltd. (H Shares)	314,000		151,116
CITIC Securities Co. Ltd. (H Shares)	85,500		213,336
CSG Holding Co. Ltd. (B Shares)	70,300		52,302
CSR Corp. Ltd. (H Shares)	184,000		187,199
Datang International Power Generation Co. Ltd. (H Shares)	274,000		143,493
Dazhong Transport Group Co. Ltd. (B Shares)	74,100		51,244
Dongfang Electric Corp. Ltd. (H Shares)	33,200		56,177
Dongfeng Motor Group Co. Ltd. (H Shares)	288,000		445,380
Double Coin Holdings Ltd. (B Shares)	19,000		14,290
Foshan Electrical and Lighting Co. Ltd. (B Shares) (a)	21,900		20,989
Great Wall Motor Co. Ltd. (H Shares)	104,000		457,045
Guangdong Electric Power Development Co. Ltd. (B Shares)	44,500		29,267
Guangshen Railway Co. Ltd. (H Shares)	122,000		52,400
Guangzhou Automobile Group Co. Ltd. (H Shares)	226,000		201,078
Guangzhou Baiyunshan Pharma Health (H Shares)	20,000		68,354
Guangzhou R&F Properties Co. Ltd. (H Shares)	88,000		95,981
Guangzhou Shipyard International Ltd. (H Shares)	16,000		28,323
Haitong Securities Co. Ltd. (H Shares)	159,600		274,021
Harbin Electric Machinery Co. Ltd.(H Shares)	76,000		45,867
Huadian Energy Co. Ltd. (B Shares) (a)	19,200		7,870
Huadian Fuxin Energy Corp. Ltd. (H Shares)	168,000		96,658
Huadian Power International Corp. Ltd. (H Shares)	154,000		117,633
Huaneng Power International, Inc. (H Shares)	302,000		371,291
Huaneng Renewables Corp. Ltd. (H Shares)	324,000		116,366
Huishang Bank Corp. Ltd.	164,000		70,221
Industrial & Commercial Bank of China Ltd. (H Shares)	7,194,000		4,776,528
Inner Mongolia Eerduosi Resourses Co. Ltd. (B Shares)	44,400		35,609
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)	99,562		162,438
Jiangling Motors Corp. Ltd. (B Shares)	8,300		32,829
Jiangsu Expressway Co. Ltd. (H Shares)	118,000		131,810
Jiangxi Copper Co. Ltd. (H Shares)	143,000		254,008
Jinzhou Port Co. Ltd. (B Shares)	11,000		4,908
Lianhua Supermarket Holdings Ltd. (H Shares) (a)	43,000		21,342
Maanshan Iron & Steel Ltd. (H Shares) (a)	110,000		28,682
Metallurgical Corp. China Ltd. (H Shares)	269,000		73,864
New China Life Insurance Co. Ltd. (H Shares)	70,800		264,946
People's Insurance Co. of China Group (H Shares)	371,000		160,362
PetroChina Co. Ltd. (H Shares)	2,104,000		2,634,091
PICC Property & Casualty Co. Ltd. (H Shares)	302,008		554,015
Ping An Insurance (Group) Co. of China Ltd. (H Shares)	191,500		1,565,462
Shandong Chenming Paper Holdings Ltd. (B Shares)	156,600		77,603
Common Stocks - continued
	Shares		Value
China - continued
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)	168,000		$ 169,888
Shanghai Bailian Group Co. Ltd. (B Shares)	13,200		17,641
Shanghai Chlor Alkali Co. Ltd. (B Shares)	33,000		15,900
Shanghai Electric Group Co. Ltd. (H Shares)	276,000		138,281
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. Class H	40,000		144,012
Shanghai Haixin Group Co. Ltd. (B Shares) (a)	36,400		19,252
Shanghai Jin Jiang International Hotels (Group) Co. Ltd. (B Shares)	9,000		16,626
Shanghai Jin Jiang International Industrial Investment Co. Ltd. (B Shares)	40		38
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. (B Shares)	18,000		19,717
Shanghai Lujiazui Finance Trust Ltd. (B Shares)	41,700		71,037
Shanghai Pharma Holding Co. Ltd. (H Shares)	58,500		146,399
Shanghai Shangling Electric Appliances Co. Ltd. (B Shares)	23,900		49,923
Shanghai Waigaoqiao Free Trade Zone Development Co. Ltd. (B Shares)	15,917		29,504
Shanghai Zhenhua Port Machinery Co. Ltd. (B Shares) (a)	53,100		23,895
Shenzhen Chiwan Wharf Holding Ltd. (B Shares)	19,400		33,383
Shenzhen Expressway Co. (H Shares)	82,000		52,462
Sichuan Expressway Co. Ltd. (H Shares)	64,000		24,765
Sinopec Engineering Group Co. Ltd. (H Shares) (e)	113,500		109,774
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares)	329,000		102,006
Sinopharm Group Co. Ltd. (H Shares)	94,400		368,782
Sinotrans Ltd. (H Shares)	176,000		139,657
Tianjin Capital Environmental Protection Co. Ltd. (H Shares)	48,000		34,188
TravelSky Technology Ltd. (H Shares)	98,000		102,399
Tsingtao Brewery Co. Ltd. (H Shares)	38,000		280,903
Weichai Power Co. Ltd. (H Shares)	52,800		202,682
Weifu High-Technology Co. Ltd. (B Shares)	13,550		51,383
Wumart Stores, Inc. (H Shares)	51,000		44,179
Xinjiang Goldwind Science & Technology Co. Ltd. (H Shares)	37,000		66,405
Yantai Changyu Pioneer Wine Co. Ltd. (B Shares)	26,520		83,340
Yanzhou Coal Mining Co. Ltd. (H Shares)	178,000		150,516
Zhaojin Mining Industry Co. Ltd. (H Shares)	86,500		45,684
Zhejiang Expressway Co. Ltd. (H Shares)	140,000		141,171
Zhuzhou CSR Times Electric Co. Ltd. (H Shares)	50,500		217,169
Zijin Mining Group Co. Ltd. (H Shares)	632,000		161,831
ZTE Corp. (H Shares)	69,800		169,268
TOTAL CHINA			43,191,080
Colombia - 0.6%
Almacenes Exito SA	23,015		324,615
Common Stocks - continued
	Shares		Value
Colombia - continued
BanColombia SA sponsored ADR	76		$ 4,299
Cementos Argos SA	40,861		208,525
Cemex Latam Holdings SA (a)	16,342		145,827
Corporacion Financiera Colombiana SA	9,859		194,065
Corporacion Financiera Colombiana SA (RFD)	269		5,269
Ecopetrol SA	495,268		661,962
Grupo de Inversiones Suramerica SA	18,987		394,782
Interconexion Electrica SA ESP	35,796		153,101
Isagen SA	85,085		112,068
TOTAL COLOMBIA			2,204,513
Czech Republic - 0.2%
Ceske Energeticke Zavody A/S	15,665		433,280
Komercni Banka A/S	1,505		322,371
Telefonica Czech Rep A/S	8,941		99,887
TOTAL CZECH REPUBLIC			855,538
Egypt - 0.4%
Commercial International Bank SAE	79,964		546,883
Commercial International Bank SAE sponsored GDR	2,265		15,402
EFG-Hermes Holding SAE	50,089		118,602
Egyptian Kuwaiti Holding (a)	74,575		65,626
El Ezz Steel Rebars SAE (a)	18,109		40,675
Elsewedy Electric Co. (a)	5,895		37,513
Global Telecom Holding (a)	258,317		156,073
JUHAYNA Food Industries	42,128		54,206
Sidi Kerir Petrochemcials Co.	8,487		21,283
Talaat Moustafa Group Holding	114,167		167,816
Telecom Egypt SAE	31,783		60,454
TOTAL EGYPT			1,284,533
Hong Kong - 4.7%
Beijing Enterprises Holdings Ltd.	52,500		428,646
China Agri-Industries Holdings Ltd.	181,630		69,390
China Everbright International Ltd.	269,000		371,414
China Everbright Ltd.	82,000		159,506
China Merchants Holdings International Co. Ltd.	112,283		354,926
China Mobile Ltd.	519,000		6,457,667
China Overseas Land and Investment Ltd.	410,000		1,189,589
China Resources Enterprise Ltd.	122,000		290,176
China Resources Power Holdings Co. Ltd.	186,000		541,380
China South City Holdings Ltd.	216,000		97,831
China Taiping Insurance Group Ltd. (a)	100,800		216,388
China Taiping Insurance Group Ltd. rights 11/18/14 (a)	16,170		9,904
Common Stocks - continued
	Shares		Value
Hong Kong - continued
China Unicom Ltd.	450,000		$ 676,131
CITIC Pacific Ltd.	550,000		963,695
CNOOC Ltd.	1,586,000		2,483,500
CNOOC Ltd. sponsored ADR	200		31,274
CSPC Pharmaceutical Group Ltd.	278,000		256,113
Far East Horizon Ltd.	146,000		135,788
Fosun International Ltd.	137,000		162,504
Franshion Properties China Ltd.	358,000		84,510
Guangdong Investment Ltd.	222,000		292,024
Lenovo Group Ltd.	612,000		902,091
Poly Property Group Co. Ltd.	191,000		73,990
Shanghai Industrial Holdings Ltd.	47,000		144,916
Shenzhen Investment Ltd.	208,431		60,204
Sino-Ocean Land Holdings Ltd.	355,979		203,539
Sinotruk Hong Kong Ltd.	100,000		51,834
Yuexiu Property Co. Ltd.	612,000		112,872
TOTAL HONG KONG			16,821,802
Hungary - 0.2%
Magyar Telekom PLC (a)	34,595		47,841
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)	4,706		223,945
OTP Bank PLC	18,192		300,777
Richter Gedeon PLC	14,788		225,732
TOTAL HUNGARY			798,295
India - 11.0%
ABB Ltd. India	5,770		109,849
ACC Ltd.	6,498		158,619
Adani Enterprises Ltd.	26,480		208,931
Adani Ports & Special Economic Zone	50,352		234,043
Adani Power Ltd. (a)	70,324		54,962
Aditya Birla Nuvo Ltd.	5,501		150,658
Ambuja Cements Ltd.	69,154		256,141
Ashok Leyland Ltd. (a)	71,710		54,141
Asian Paints India Ltd.	30,158		322,198
Aurobindo Pharma Ltd.	13,102		206,625
Axis Bank Ltd. (a)	105,685		778,923
Bajaj Auto Ltd. (a)	7,341		312,015
Bajaj Holdings & Investment Ltd. (a)	2,657		60,836
Bank of Baroda	7,674		117,175
Bank of India	18,538		86,093
Bharat Electronics Ltd.	1,025		34,738
Common Stocks - continued
	Shares		Value
India - continued
Bharat Forge Ltd.	9,920		$ 131,183
Bharat Heavy Electricals Ltd.	58,383		243,912
Bharat Petroleum Corp. Ltd.	16,939		198,307
Bharti Airtel Ltd. (a)	129,324		840,342
Bharti Infratel Ltd.	46,657		223,601
Cadila Healthcare Ltd. (a)	5,335		123,721
Cairn India Ltd.	44,309		205,254
Canara Bank Ltd.	12,217		79,992
Castrol India Ltd.	13,016		87,682
Cipla Ltd.	33,156		359,996
Coal India Ltd.	64,334		387,929
Colgate-Palmolive (India)	3,568		98,203
Corporation Bank Ltd.	10,294		56,748
Crompton Greaves Ltd.	11,890		36,416
Cummins India Ltd.	9,505		113,142
Dabur India Ltd.	51,682		190,493
Divi's Laboratories Ltd. (a)	4,927		150,271
DLF Ltd. (a)	45,905		93,346
Dr. Reddy's Laboratories Ltd. (a)	8,445		435,307
Eicher Motors Ltd.	628		130,441
Essar Oil Ltd. (a)	14,081		27,655
Exide Industries Ltd.	20,175		51,725
GAIL India Ltd.	31,465		270,440
GlaxoSmithKline Consumer Healthcare Ltd.	1,322		119,034
GlaxoSmithKline Pharmaceuticals Ltd. (a)	2,825		126,888
Glenmark Pharmaceuticals Ltd.	10,258		120,090
GMR Infrastructure Ltd. (a)	141,537		49,821
Godrej Consumer Products Ltd.	11,499		181,553
Godrej Industries Ltd. (a)	11,285		55,406
Grasim Industries Ltd.	1,387		83,231
Great Eastern Shipping Co. Ltd.	6,235		40,430
HCL Technologies Ltd.	26,699		700,213
HDFC Bank Ltd.	82,559		1,338,724
Hero Motocorp Ltd.	8,080		403,469
Hindalco Industries Ltd. (a)	83,328		221,603
Hindustan Petroleum Corp. Ltd. (a)	7,939		67,797
Hindustan Unilever Ltd.	71,719		861,784
Hindustan Zinc Ltd.	22,148		61,768
Housing Development Finance Corp. Ltd.	155,868		2,807,064
ICICI Bank Ltd. (a)	56,731		1,506,605
IDBI Bank Ltd.	28,692		32,994
Idea Cellular Ltd. (a)	146,928		389,259
Common Stocks - continued
	Shares		Value
India - continued
IDFC Ltd. (a)	55,030		$ 143,199
Indian Oil Corp. Ltd. (a)	32,141		188,904
IndusInd Bank Ltd. (a)	17,361		210,413
Infosys Ltd.	47,357		3,139,069
ITC Ltd. (a)	190,825		1,103,333
Jaiprakash Associates Ltd. (a)	88,232		44,752
Jindal Steel & Power Ltd.	35,225		92,811
JSW Energy Ltd. (a)	34,499		45,050
JSW Steel Ltd.	11,870		243,764
Kotak Mahindra Bank Ltd.	31,517		574,235
Larsen & Toubro Ltd. (a)	22,659		610,643
Lupin Ltd.	9,167		212,247
Mahindra & Mahindra Financial Services Ltd.	29,321		140,073
Mahindra & Mahindra Ltd. (a)	30,555		649,654
Mangalore Refinery & Petrochemicals Ltd. (a)	13,688		13,082
Maruti Suzuki India Ltd. (a)	4,930		270,041
Motherson Sumi Systems Ltd.	20,626		141,223
Mphasis BFL Ltd.	12,284		80,220
Nestle India Ltd.	2,444		252,531
NHPC Ltd.	159,821		53,654
NMDC Ltd.	85,326		237,569
NTPC Ltd.	203,158		496,129
Oil & Natural Gas Corp. Ltd.	205,799		1,346,758
Oil India Ltd.	11,941		122,879
Oracle Finance Services Software Ltd. (a)	1,958		109,388
Oriental Bank of Commerce (a)	5,166		23,999
Piramal Enterprises Ltd. (a)	8,406		110,359
Power Finance Corp. Ltd.	34,268		157,547
Power Grid Corp. of India Ltd.	163,348		387,574
Punjab National Bank (a)	4,147		63,398
Ranbaxy Laboratories Ltd. (a)	11,964		123,342
Reliance Capital Ltd. (a)	12,738		98,468
Reliance Communication Ltd. (a)	104,739		180,857
Reliance Industries Ltd.	159,028		2,580,845
Reliance Infrastructure Ltd. (a)	11,957		123,993
Reliance Power Ltd. (a)	66,366		82,431
Rural Electrification Corp. Ltd.	35,214		172,977
Sesa Sterlite Ltd.	135,671		566,056
Shree Cement Ltd.	1,088		160,733
Shriram Transport Finance Co. Ltd.	13,164		203,643
Siemens India Ltd.	8,899		126,483
State Bank of India	15,240		670,658
Common Stocks - continued
	Shares		Value
India - continued
Steel Authority of India Ltd.	89,268		$ 120,820
Sun Pharmaceutical Industries Ltd.	76,887		1,058,107
Sun TV Ltd.	6,352		33,782
Tata Chemicals Ltd. (a)	3,139		21,281
Tata Communications Ltd.	5,874		38,493
Tata Consultancy Services Ltd.	46,960		1,998,031
Tata Motors Ltd. (a)	97,228		849,445
Tata Power Co. Ltd. (a)	101,826		155,436
Tata Steel Ltd.	25,693		205,070
Tech Mahindra Ltd.	11,399		467,265
Titan Co. Ltd. (a)	14,520		95,381
Torrent Power Ltd. (a)	8,080		21,641
Ultratech Cemco Ltd. (a)	6,843		283,879
Union Bank of India	10,272		37,703
Unitech Ltd. (a)	115,110		38,404
United Breweries Ltd.	6,396		72,747
United Spirits Ltd. (a)	5,754		258,845
Wipro Ltd.	49,858		460,546
Wockhardt Ltd.	2,417		29,822
Yes Bank Ltd.	19,236		217,823
Zee Entertainment Enterprises Ltd.	47,447		265,917
TOTAL INDIA			39,935,208
Indonesia - 2.7%
PT Adaro Energy Tbk	1,213,500		114,115
PT Aneka Tambang Tbk	213,000		17,107
PT Astra Agro Lestari Tbk	28,500		55,431
PT Astra International Tbk	2,028,900		1,137,627
PT Bank Central Asia Tbk	1,228,600		1,326,324
PT Bank Danamon Indonesia Tbk Series A	301,400		105,113
PT Bank Mandiri (Persero) Tbk	941,900		808,954
PT Bank Negara Indonesia (Persero) Tbk	762,800		375,958
PT Bank Rakyat Indonesia Tbk	1,078,700		988,517
PT Charoen Pokphand Indonesia Tbk	753,400		262,013
PT Global Mediacom Tbk	435,600		70,698
PT Gudang Garam Tbk	47,100		225,395
PT Indo Tambangraya Megah Tbk	38,000		66,675
PT Indocement Tunggal Prakarsa Tbk	130,400		258,451
PT Indofood CBP Sukses Makmur Tbk	114,500		104,709
PT Indofood Sukses Makmur Tbk	426,200		240,734
PT Indosat Tbk (a)	101,000		30,638
PT International Nickel Indonesia Tbk	187,500		58,760
Common Stocks - continued
	Shares		Value
Indonesia - continued
PT Jasa Marga Tbk	187,200		$ 98,421
PT Kalbe Farma Tbk	2,043,500		288,527
PT Media Nusantara Citra Tbk	508,200		117,816
PT Perusahaan Gas Negara Tbk Series B	1,075,200		529,633
PT Semen Gresik (Persero) Tbk	290,400		381,456
PT Surya Citra Media Tbk	385,500		107,909
PT Tambang Batubara Bukit Asam Tbk	78,300		84,005
PT Telkomunikasi Indonesia Tbk Series B	5,042,100		1,148,326
PT Tower Bersama Infrastructure Tbk	185,600		136,712
PT Unilever Indonesia Tbk	111,400		280,479
PT United Tractors Tbk	152,200		231,191
PT XL Axiata Tbk	272,600		124,660
TOTAL INDONESIA			9,776,354
Malaysia - 4.6%
AirAsia Bhd	119,700		90,954
Alliance Financial Group Bhd	104,200		151,811
AMMB Holdings Bhd	174,100		358,821
Astro Malaysia Holdings Bhd	157,900		158,412
Axiata Group Bhd	497,700		1,066,513
Berjaya Sports Toto Bhd	99,569		109,248
British American Tobacco (Malaysia) Bhd	14,200		300,128
Bumi Armada Bhd	404,700		193,187
Bumiputra-Commerce Holdings Bhd	504,666		996,156
DiGi.com Bhd	366,800		690,215
Felda Global Ventures Holdings Bhd	191,200		212,635
Gamuda Bhd	200,100		311,683
Genting Bhd	217,600		644,866
Genting Malaysia Bhd	302,700		395,707
Hong Leong Bank Bhd	56,100		249,316
Hong Leong Credit Bhd	22,300		122,658
IHH Healthcare Bhd	277,200		416,995
IJM Corp. Bhd	119,100		250,312
IOI Corp. Bhd	363,400		540,064
IOI Properties Group Sdn Bhd	171,166		143,098
KLCC Property Holdings Bhd	41,800		88,622
Kuala Lumpur Kepong Bhd	53,200		371,804
Lafarge Malaysia Bhd	43,900		139,786
Malayan Banking Bhd	439,564		1,296,277
Malaysia Airports Holdings Bhd	73,222		160,685
Malaysia Marine and Heavy Engineering Sdn Bhd	32,800		22,617
Maxis Bhd	263,800		540,425
Common Stocks - continued
	Shares		Value
Malaysia - continued
MISC Bhd	147,300		$ 307,195
MMC Corp. Bhd	75,300		60,431
Parkson Holdings Bhd	54,606		41,841
Petronas Chemicals Group Bhd	289,200		540,234
Petronas Dagangan Bhd	28,200		175,060
Petronas Gas Bhd	78,000		534,650
PPB Group Bhd	60,800		292,305
Public Bank Bhd	310,500		1,749,838
RHB Capital Bhd	70,613		188,815
SapuraKencana Petroleum Bhd	385,600		399,584
Sime Darby Bhd	305,743		899,420
SP Setia Bhd	71,972		72,969
Telekom Malaysia Bhd	106,193		232,420
Tenaga Nasional Bhd	137,100		556,793
UEM Land Holdings Bhd	170,200		97,264
UMW Holdings Bhd	66,200		235,252
YTL Corp. Bhd	541,686		273,329
YTL Power International Bhd	275,070		132,927
TOTAL MALAYSIA			16,813,322
Malta - 0.1%
Brait SA	32,414		243,566
Mexico - 5.8%
Alfa SA de CV Series A	283,300		902,731
Alpek SA de CV	31,800		56,250
America Movil S.A.B. de CV Series L	2,979,200		3,634,884
CEMEX S.A.B. de CV unit	1,215,452		1,497,399
Coca-Cola FEMSA S.A.B. de CV Series L	41,800		440,993
Compartamos S.A.B. de CV	114,600		255,220
Concentradora Fibra Danhos SA de CV	19,200		48,676
Controladora Commercial Mexicana S.A.B. de CV unit	41,700		163,378
Embotelladoras Arca S.A.B. de CV	26,100		168,079
Fibra Uno Administracion SA de CV	226,500		787,168
Fomento Economico Mexicano S.A.B. de CV unit	215,800		2,075,590
Genomma Lab Internacional SA de CV (a)	75,800		191,326
Gruma S.A.B. de CV Series B	15,800		173,989
Grupo Aeroportuario del Pacifico SA de CV Series B	35,200		239,489
Grupo Aeroportuario del Sureste SA de CV Series B	23,200		310,143
Grupo Bimbo S.A.B. de CV Series A	185,400		542,312
Grupo Carso SA de CV Series A1	49,200		281,106
Grupo Comercial Chedraui S.A.B. de CV	29,300		103,068
Grupo Elektra SA de CV	3,140		119,386
Common Stocks - continued
	Shares		Value
Mexico - continued
Grupo Financiero Banorte S.A.B. de CV Series O	228,100		$ 1,463,329
Grupo Financiero Inbursa S.A.B. de CV Series O	208,000		624,637
Grupo Financiero Santander Mexico S.A.B. de CV	151,300		403,130
Grupo Lala S.A.B. de CV	52,200		119,779
Grupo Mexico SA de CV Series B	392,407		1,348,309
Grupo Sanborns SA de CV	34,200		54,730
Grupo Televisa SA de CV	263,400		1,903,580
Industrias Bachoco SA de CV Series B	15,700		79,863
Industrias CH SA de CV (a)	17,000		92,106
Industrias Penoles SA de CV	12,125		272,119
Infraestructura Energetica Nova S.A.B. de CV	18,400		112,617
Kimberly-Clark de Mexico SA de CV Series A	82,300		190,498
Mexichem S.A.B. de CV	107,627		440,299
Minera Frisco S.A.B. de CV (a)	45,200		80,423
OHL Mexico S.A.B. de CV (a)	64,300		180,969
Organizacion Soriana S.A.B. de CV Series B	27,400		89,548
Promotora y Operadora de Infraestructura S.A.B. de CV (a)	19,400		266,504
Wal-Mart de Mexico SA de CV Series V	561,600		1,298,254
TOTAL MEXICO			21,011,881
Morocco - 0.0%
Douja Promotion Groupe Addoha SA	14,643		81,281
Pakistan - 0.2%
Fauji Fertilizer Co. Ltd.	65,265		74,803
MCB Bank Ltd.	82,761		225,922
National Bank of Pakistan	46,662		27,267
Oil & Gas Development Co. Ltd.	61,317		136,045
Pakistan Petroleum Ltd.	38,913		77,383
TOTAL PAKISTAN			541,420
Peru - 0.1%
Compania de Minas Buenaventura SA	337		3,100
Compania de Minas Buenaventura SA sponsored ADR	20,705		190,486
TOTAL PERU			193,586
Philippines - 1.6%
Aboitiz Equity Ventures, Inc.	208,170		240,830
Aboitiz Power Corp.	176,800		161,229
Alliance Global Group, Inc.	413,500		232,577
Ayala Corp.	23,430		359,394
Ayala Land, Inc.	551,400		411,194
Bank of the Philippine Islands (BPI)	159,512		337,329
Common Stocks - continued
	Shares		Value
Philippines - continued
BDO Unibank, Inc.	146,082		$ 318,226
Bloomberry Resorts Corp. (a)	282,000		97,359
DMCI Holdings, Inc.	421,350		151,915
Emperador, Inc.	196,100		46,362
Globe Telecom, Inc.	3,100		116,164
GT Capital Holdings, Inc.	7,160		160,881
International Container Terminal Services, Inc.	85,790		221,229
JG Summit Holdings, Inc.	208,470		295,659
Jollibee Food Corp.	43,140		188,020
LT Group, Inc.	246,300		77,971
Manila Electric Co.	30,800		179,445
Metropolitan Bank & Trust Co.	112,755		206,886
Petron Corp.	243,400		63,920
Philippine Long Distance Telephone Co.	8,420		587,575
PNOC Energy Development Corp.	705,500		120,786
San Miguel Corp.	67,710		109,264
SM Investments Corp.	31,767		553,560
SM Prime Holdings, Inc.	751,900		292,284
Top Frontier Investment Holdings, Inc.	4,146		10,128
Travellers International Hotel Group, Inc.	159,600		34,516
Universal Robina Corp.	86,680		358,328
TOTAL PHILIPPINES			5,933,031
Poland - 1.8%
Alior Bank SA (a)	4,396		97,593
Bank Handlowy w Warszawie SA	3,120		105,380
Bank Millennium SA	38,550		95,537
Bank Polska Kasa Opieki SA	13,184		689,076
Bank Zachodni WBK SA	2,892		327,456
BRE Bank SA	1,222		180,836
Cyfrowy Polsat SA	21,698		165,957
ENEA SA	21,727		103,176
Energa SA	31,163		231,505
Eurocash SA	7,418		73,073
Getin Noble Bank SA (a)	109,511		84,507
ING Bank Slaski SA	3,045		126,073
Jastrzebska Spolka Weglowa SA (a)	3,819		32,814
KGHM Polska Miedz SA (Bearer)	14,099		543,573
LPP SA	130		387,727
Polish Oil & Gas Co. SA	181,433		270,860
Polska Grupa Energetyczna SA	73,731		483,618
Polski Koncern Naftowy Orlen SA	30,871		384,181
Common Stocks - continued
	Shares		Value
Poland - continued
Powszechna Kasa Oszczednosci Bank SA	87,145		$ 968,623
Powszechny Zaklad Ubezpieczen SA	5,522		827,653
Synthos SA	55,272		68,571
Tauron Polska Energia SA	111,902		174,696
Telekomunikacja Polska SA	61,620		184,716
TOTAL POLAND			6,607,201
Russia - 4.8%
Aeroflot - Russian Airlines (a)	29,070		25,819
E.ON Russia JSC (a)	1,267,859		73,666
Federal Grid Co. of Unified Energy System (a)	24,221,526		30,191
Gazprom OAO sponsored ADR (Reg. S)	548,999		3,638,765
Inter Rao Ues JSC (a)	180,564,990		40,261
LSR Group OJSC GDR (Reg. S)	19,286		56,315
LUKOIL Oil Co. sponsored ADR (United Kingdom)	48,250		2,369,075
Magnit OJSC GDR (Reg. S)	27,842		1,865,414
Magnitogorsk Iron & Steel Works OJSC unit (a)	5,623		15,913
Megafon OJSC GDR	9,195		215,163
Mobile TeleSystems OJSC sponsored ADR	49,547		708,522
Moscow Exchange MICEX-RTS OAO	136,640		184,261
Norilsk Nickel OJSC ADR	47,885		891,140
NOVATEK OAO GDR (Reg. S)	11,229		1,205,995
Novolipetsk Steel OJSC GDR (Reg. S)	9,656		123,597
Pharmstandard OJSC unit (a)	3,498		43,725
PhosAgro OJSC GDR (Reg. S)	7,172		76,740
Rosneft Oil Co. OJSC GDR (Reg. S)	114,432		637,386
Rostelecom sponsored ADR	17,751		263,247
RusHydro JSC sponsored ADR	119,773		199,542
Russian Grids OAO (a)	1,422,195		17,092
Sberbank (Savings Bank of the Russian Federation) (a)	39,030		69,176
Sberbank (Savings Bank of the Russian Federation) sponsored ADR	259,798		1,971,867
Severstal GDR (Reg. S)	16,078		169,944
Sistema JSFC sponsored GDR	12,948		104,555
Surgutneftegas sponsored ADR	72,321		475,872
Tatneft OAO sponsored ADR	23,843		849,526
TMK OAO GDR (Reg. S)	4,086		31,993
Uralkali OJSC GDR (Reg. S)	22,168		396,142
VTB Bank OJSC sponsored GDR (Reg. S)	256,761		485,022
TOTAL RUSSIA			17,235,926
South Africa - 9.0%
Adcock Ingram Holdings Ltd. (a)	13,517		60,662
Common Stocks - continued
	Shares		Value
South Africa - continued
Aeci Ltd.	11,436		$ 128,101
African Bank Investments Ltd. (a)	116,009		0
African Rainbow Minerals Ltd.	8,690		107,071
Anglo American Platinum Ltd. (a)	5,839		184,205
AngloGold Ashanti Ltd. (a)	39,528		330,333
ArcelorMittal South Africa Ltd. (a)	13,816		40,785
Aspen Pharmacare Holdings Ltd.	30,465		1,086,711
Assore Ltd.	3,184		59,089
Attacq Ltd. (a)	43,951		85,633
Aveng Ltd. (a)	35,748		65,664
AVI Ltd.	30,636		199,708
Barclays Africa Group Ltd.	32,852		518,734
Barloworld Ltd.	20,854		181,073
Bidvest Group Ltd.	32,389		890,850
Capital Property Fund	145,768		168,899
Capitec Bank Holdings Ltd.	5,966		157,375
Clicks Group Ltd.	23,831		162,262
Coronation Fund Managers Ltd.	26,514		229,569
DataTec Ltd.	20,360		102,448
Discovery Holdings Ltd.	29,179		265,421
Exxaro Resources Ltd.	13,322		138,900
FirstRand Ltd.	326,547		1,397,404
Foschini Ltd.	19,796		223,702
Fountainhead Property Trust	38,899		28,567
Gold Fields Ltd.	77,604		251,642
Grindrod Ltd.	49,591		101,612
Growthpoint Properties Ltd.	207,093		502,254
Harmony Gold Mining Co. Ltd. (a)	30,915		49,940
Illovo Sugar Ltd.	21,553		51,588
Impala Platinum Holdings Ltd. (a)	50,653		368,724
Imperial Holdings Ltd.	16,823		289,719
Investec Ltd.	24,292		221,782
JD Group Ltd. (a)	9,706		21,683
JSE Ltd.	8,453		82,309
Kumba Iron Ore Ltd.	5,951		148,617
Liberty Holdings Ltd.	9,434		109,173
Life Healthcare Group Holdings Ltd.	94,259		356,364
Massmart Holdings Ltd.	10,787		116,508
Mediclinic International Ltd.	41,750		372,844
MMI Holdings Ltd.	99,113		253,314
Mondi Ltd.	11,553		193,169
Mr Price Group Ltd.	22,172		458,627
Common Stocks - continued
	Shares		Value
South Africa - continued
MTN Group Ltd.	175,119		$ 3,873,980
Murray & Roberts Holdings Ltd.	37,902		77,833
Nampak Ltd.	59,105		240,980
Naspers Ltd. Class N	36,052		4,486,631
Nedbank Group Ltd.	19,854		432,442
Netcare Ltd.	149,556		452,204
Northam Platinum Ltd. (a)	29,979		92,331
Omnia Holdings Ltd.	6,394		127,535
Pick 'n Pay Holdings Ltd.	21,265		44,652
Pick 'n Pay Stores Ltd.	22,671		109,617
Pretoria Portland Cement Co. Ltd.	40,407		108,438
PSG Group Ltd.	5,486		57,199
Remgro Ltd.	48,663		1,116,142
Reunert Ltd.	14,533		76,699
RMB Holdings Ltd.	65,671		364,444
Royal Bafokeng Holdings (Pty) Ltd. (a)	4,355		23,098
Sanlam Ltd.	175,817		1,110,239
Santam Ltd.	3,243		60,069
Sappi Ltd. (a)	52,267		206,466
Sasol Ltd.	55,141		2,753,479
Shoprite Holdings Ltd.	43,657		632,427
Sibanye Gold Ltd.	67,594		127,359
Spar Group Ltd.	18,123		211,944
Standard Bank Group Ltd.	120,744		1,518,913
Steinhoff International Holdings Ltd.	247,741		1,266,810
Sun International Ltd.	9,109		101,993
Telkom SA Ltd. (a)	30,476		161,806
Tiger Brands Ltd.	15,082		453,441
Tongaat Hulett Ltd.	11,187		147,676
Truworths International Ltd.	40,480		277,091
Vodacom Group Ltd.	32,003		388,310
Wilson Bayly Holmes-Ovcon Ltd.	4,254		50,143
Woolworths Holdings Ltd.	99,971		710,508
TOTAL SOUTH AFRICA			32,625,934
Taiwan - 13.3%
Acer, Inc. (a)	247,000		169,471
Advanced Semiconductor Engineering, Inc.	620,940		747,906
Advantech Co. Ltd.	33,784		234,685
Asia Cement Corp.	236,153		304,386
ASUSTeK Computer, Inc.	70,000		713,599
AU Optronics Corp.	883,000		420,157
Common Stocks - continued
	Shares		Value
Taiwan - continued
Capital Securities Corp.	210,195		$ 67,852
Catcher Technology Co. Ltd.	73,000		615,286
Cathay Financial Holding Co. Ltd.	793,641		1,306,171
Cathay Real Estate Development Co. Ltd.	85,000		44,263
Chang Hwa Commercial Bank	339,293		213,588
Cheng Shin Rubber Industry Co. Ltd.	186,937		435,926
Cheng Uei Precision Industries Co. Ltd.	36,109		60,205
Chicony Electronics Co. Ltd.	55,485		159,533
China Airlines Ltd. (a)	186,043		72,722
China Development Finance Holding Corp.	1,438,800		461,765
China Motor Co. Ltd.	62,000		56,422
China Steel Corp.	1,252,204		1,078,618
Chinatrust Financial Holding Co. Ltd.	1,487,516		1,041,540
Chunghwa Telecom Co. Ltd.	376,000		1,145,399
Compal Electronics, Inc.	400,000		295,186
Delta Electronics, Inc.	203,000		1,215,938
E.SUN Financial Holdings Co. Ltd.	684,952		433,161
EPISTAR Corp.	80,000		144,439
Eternal Materials Co. Ltd.	74,160		73,345
EVA Airways Corp. (a)	187,900		109,919
Evergreen Marine Corp. (Taiwan) (a)	156,000		92,063
Far Eastern International Bank	154,348		51,954
Far Eastern Textile Ltd.	392,907		412,514
Far EasTone Telecommunications Co. Ltd.	161,000		355,749
Feng Hsin Iron & Steel Co.	52,000		63,937
First Financial Holding Co. Ltd.	753,001		462,881
Formosa Chemicals & Fibre Corp.	440,760		1,024,674
Formosa Petrochemical Corp.	190,000		445,296
Formosa Plastics Corp.	490,520		1,131,024
Formosa Taffeta Co. Ltd.	96,000		96,914
Foxconn Technology Co. Ltd.	106,325		283,251
Fubon Financial Holding Co. Ltd.	728,334		1,231,090
Giant Manufacturing Co. Ltd.	29,000		234,446
Hon Hai Precision Industry Co. Ltd. (Foxconn)	1,266,041		4,000,772
Hotai Motor Co. Ltd.	40,000		584,412
HTC Corp. (a)	76,000		335,993
Hua Nan Financial Holdings Co. Ltd.	686,698		406,256
Innolux Corp.	904,347		412,638
Inotera Memories, Inc. (a)	256,000		395,025
Inventec Corp.	283,865		197,210
Largan Precision Co. Ltd.	10,000		701,398
Lite-On Technology Corp.	213,010		298,476
Common Stocks - continued
	Shares		Value
Taiwan - continued
Macronix International Co. Ltd. (a)	296,101		$ 66,433
MediaTek, Inc.	146,292		2,086,225
Mega Financial Holding Co. Ltd.	1,007,098		833,982
Nan Ya Plastics Corp.	570,860		1,179,593
Nan Ya Printed Circuit Board Corp. (a)	19,000		26,335
Novatek Microelectronics Corp.	57,000		294,575
Oriental Union Chemical Corp.	61,300		46,300
Pegatron Corp.	168,000		305,702
Pou Chen Corp.	269,000		296,161
President Chain Store Corp.	57,000		426,333
President Securities Corp.	85,500		44,658
Quanta Computer, Inc.	266,000		668,615
Realtek Semiconductor Corp.	43,401		143,637
Shin Kong Financial Holding Co. Ltd.	647,145		196,254
Siliconware Precision Industries Co. Ltd.	285,000		405,923
Sinopac Holdings Co.	920,338		398,965
Synnex Technology International Corp.	125,000		175,458
Taishin Financial Holdings Co. Ltd.	840,060		400,112
Taiwan Business Bank	365,937		109,914
Taiwan Cement Corp.	316,000		482,644
Taiwan Cooperative Financial Holding Co. Ltd.	632,243		337,634
Taiwan Fertilizer Co. Ltd.	88,000		155,879
Taiwan Glass Industry Corp.	137,475		106,486
Taiwan Mobile Co. Ltd.	167,900		543,973
Taiwan Secom Co.	26,390		69,867
Taiwan Semiconductor Manufacturing Co. Ltd.	2,388,000		10,335,530
TECO Electric & Machinery Co. Ltd.	174,000		193,304
Ton Yi Industrial Corp.	55,000		32,650
Transcend Information, Inc.	25,000		84,337
U-Ming Marine Transport Corp.	49,000		76,716
Unified-President Enterprises Corp.	454,676		780,591
Unimicron Technology Corp.	123,000		94,532
United Microelectronics Corp.	1,180,000		523,102
Vanguard International Semiconductor Corp.	73,000		109,503
Walsin Lihwa Corp. (a)	285,000		94,470
Wan Hai Lines Ltd.	103,000		76,060
Wistron Corp.	240,831		252,626
Yang Ming Marine Transport Corp. (a)	166,900		76,284
Yuanta Financial Holding Co. Ltd.	980,184		492,974
Yuen Foong Yu Paper Manufacturing Co.	120,000		49,668
Common Stocks - continued
	Shares		Value
Taiwan - continued
Yulon Motor Co. Ltd.	90,000		$ 132,572
Yulon Nissan Motor Co. Ltd.	2,000		18,725
TOTAL TAIWAN			48,064,757
Thailand - 2.9%
Advanced Info Service PCL (For. Reg.)	119,500		877,174
Airports of Thailand PCL (For. Reg.)	40,700		302,332
Bangkok Bank PCL (For. Reg.)	47,600		295,170
Bangkok Dusit Medical Services PCL (For. Reg.)	323,900		183,876
Bangkok Life Assurance PCL	39,340		69,762
Bank of Ayudhya PCL	155,700		228,115
Banpu PCL (For. Reg.)	92,900		80,577
BEC World PCL (For. Reg.)	99,200		146,953
Berli Jucker PCL (For. Reg)	45,400		63,421
Big C Supercenter PCL	17,600		125,809
Big C Supercenter PCL (For. Reg.)	16,900		120,805
BTS Group Holdings PCL	609,900		192,971
C.P. ALL PCL (For. Reg.)	430,700		601,486
Central Pattana PCL (For. Reg.)	133,600		198,016
Charoen Pokphand Foods PCL (For. Reg.)	315,600		302,837
Delta Electronics PCL (For. Reg.)	46,000		91,301
Electricity Generating PCL (For. Reg.)	22,200		117,222
Glow Energy PCL (For. Reg.)	38,900		119,550
Home Product Center PCL (For. Reg.)	334,912		95,579
Indorama Ventures PCL:
warrants 8/24/17 (a)	12,420		1,368
warrants 8/24/18 (a)	9,554		862
(For. Reg.)	124,200		91,113
Intouch Holdings PCL	38,800		88,088
Intouch Holdings PCL (For. Reg)	106,900		242,696
IRPC PCL (For. Reg.)	883,800		92,753
Kasikornbank PCL (For. Reg.)	118,000		854,645
Krung Thai Bank PCL (For. Reg.)	345,370		247,028
Land & House PCL	63,000		19,718
Land & House PCL (For. Reg.)	246,300		77,087
Minor International PCL:
warrants 10/16/17 (a)	7,235		1,380
(For. Reg.)	144,700		154,318
PTT Exploration and Production PCL (For. Reg.)	135,939		610,980
PTT Global Chemical PCL (For. Reg.)	165,839		314,682
PTT PCL (For. Reg.)	85,600		968,457
Ratchaburi Electric Generating Holding PCL (For. Reg.)	32,800		61,193
Common Stocks - continued
	Shares		Value
Thailand - continued
Siam Cement PCL (For. Reg.)	30,700		$ 426,107
Siam City Cement PCL (For. Reg.)	6,500		83,796
Siam Commercial Bank PCL (For. Reg.)	158,400		863,495
Thai Airways International PCL (For. Reg.) (a)	42,500		18,648
Thai Oil PCL (For. Reg.)	78,100		107,125
Thai Union Frozen Products PCL (For. Reg.)	46,180		105,592
TMB PCL (For. Reg.)	2,173,700		205,422
Total Access Communication PCL	46,600		148,093
Total Access Communication PCL (For. Reg.)	26,200		83,263
True Corp. PCL (For. Reg.) (a)	904,248		327,704
TOTAL THAILAND			10,408,569
Turkey - 1.8%
Akbank T.A.S.	161,445		583,269
Anadolu Efes Biracilik Ve Malt Sanayii A/S (a)	19,816		231,803
Arcelik A/S	19,562		120,136
Aselsan A/S	11,566		52,557
Bim Birlesik Magazalar A/S JSC	21,996		502,732
Coca-Cola Icecek Sanayi A/S	6,210		141,654
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S	182,939		205,767
Enka Insaat ve Sanayi A/S	40,742		98,617
Eregli Demir ve Celik Fabrikalari T.A.S.	138,683		288,890
Ford Otomotiv Sanayi A/S	6,316		80,703
Haci Omer Sabanci Holding A/S	80,650		368,298
Koc Holding A/S	63,817		325,883
Koza Altin Isletmeleri A/S	3,489		22,526
TAV Havalimanlari Holding A/S	14,950		125,444
Tofas Turk Otomobil Fabrikasi A/S	11,852		74,387
Tupras Turkiye Petrol Rafinelleri A/S	11,670		253,336
Turk Hava Yollari AO (a)	55,904		183,358
Turk Sise ve Cam Fabrikalari A/S	57,378		87,255
Turk Telekomunikasyon A/S	52,108		149,808
Turkcell Iletisim Hizmet A/S (a)	76,889		446,977
Turkiye Garanti Bankasi A/S	212,345		828,760
Turkiye Halk Bankasi A/S	64,564		431,366
Turkiye Is Bankasi A/S Series C	143,176		358,157
Turkiye Vakiflar Bankasi TAO	100,629		216,411
Ulker Biskuvi Sanayi A/S	15,704		115,873
Yapi ve Kredi Bankasi A/S	87,375		191,445
TOTAL TURKEY			6,485,412
Common Stocks - continued
	Shares		Value
United Arab Emirates - 1.0%
Abu Dhabi Commercial Bank PJSC (a)	148,036		$ 318,400
Air Arabia PJSC (a)	217,021		77,993
Aldar Properties PJSC (a)	307,739		268,109
Arabtec Holding Co. (a)	200,159		230,513
Dana Gas PJSC (a)	266,990		43,614
Deyaar Development PJSC (a)	135,258		40,139
DP World Ltd.	15,867		304,012
Dubai Financial Market PJSC (a)	148,541		111,214
Dubai Investments Ltd. (a)	80,162		67,002
Dubai Islamic Bank Pakistan Ltd. (a)	71,634		147,442
Emaar Malls Group PJSC (a)	200,000		174,789
Emaar Properties PJSC (a)	356,435		970,419
First Gulf Bank PJSC	95,667		472,735
Union National Bank (a)	107,331		201,045
Union Properties Ltd. (a)	81,922		39,478
Waha Capital PJSC (a)	87,715		65,673
TOTAL UNITED ARAB EMIRATES			3,532,577
TOTAL COMMON STOCKS (Cost $313,286,676)		333,109,569
Nonconvertible Preferred Stocks - 5.0%

Brazil - 4.5%
AES Tiete SA (PN) (non-vtg.)	9,400		70,977
Banco Bradesco SA (PN)	204,340		3,077,593
Bradespar SA (PN)	23,800		160,786
Braskem SA (PN-A)	15,400		112,677
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)	24,800		93,879
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN)	14,600		612,188
Companhia de Gas de Sao Paulo	1,000		19,714
Companhia de Transmissao de Energia Eletrica Paulista (PN)	2,999		46,560
Companhia Energetica de Minas Gerais (CEMIG) (PN)	71,995		413,450
Companhia Energetica de Sao Paulo Series B	18,300		180,423
Companhia Paranaense de Energia-Copel (PN-B)	8,900		124,311
Gerdau SA (PN)	79,400		355,360
Itau Unibanco Holding SA	275,431		4,084,947
Itausa-Investimentos Itau SA (PN)	315,422		1,258,938
Lojas Americanas SA (PN)	52,070		307,221
Metalurgica Gerdau SA (PN)	28,600		154,663
Oi SA (PN)	337,900		177,275
Nonconvertible Preferred Stocks - continued
	Shares		Value
Brazil - continued
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)	431,400		$ 2,660,233
Suzano Papel e Celulose SA	27,800		117,353
Telefonica Brasil SA	29,800		608,652
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.) (a)	39,200		90,173
Vale SA (PN-A)	188,300		1,637,623
TOTAL BRAZIL			16,364,996
Chile - 0.1%
Embotelladora Andina SA Class B	23,994		75,353
Sociedad Quimica y Minera de Chile SA (PN-B)	8,885		206,985
TOTAL CHILE			282,338
Colombia - 0.3%
BanColombia SA (PN)	44,059		619,289
Grupo Aval Acciones y Valores SA	356,511		241,717
Grupo de Inversiones Suramerica SA	13,195		266,016
TOTAL COLOMBIA			1,127,022
India - 0.0%
Zee Entertainment Enterprises Ltd.	665,091		9,335
Russia - 0.1%
AK Transneft OAO (a)	155		338,720
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $20,855,618)		18,122,411

Government Obligations - 0.3%
	Principal Amount
United States of America - 0.3%
U.S. Treasury Bills, yield at date of purchase 0.05% 3/5/15 (f) (Cost $999,817)	$ 1,000,000	999,856

Money Market Funds - 2.0%
	Shares		Value
Fidelity Cash Central Fund, 0.11% (b)	6,396,361		$ 6,396,361
Fidelity Securities Lending Cash Central Fund, 0.11% (b)(c)	741,120		741,120
TOTAL MONEY MARKET FUNDS (Cost $7,137,481)		7,137,481
TOTAL INVESTMENT PORTFOLIO - 99.3% (Cost $342,279,592)			359,369,317
NET OTHER ASSETS (LIABILITIES) - 0.7%			2,473,020
NET ASSETS - 100%		$ 361,842,337

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
216 NYSE E-mini MSCI EAFE Index Contracts (United States)	Dec. 2014	$ 10,946,880	$ 287,573

The face value of futures purchased as a percentage of net assets is 3%

Legend

(a) Non-income producing

(b) 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, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

(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 $109,774 or 0.0% of net assets.

(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 $459,934.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 6,161
Fidelity Securities Lending Cash Central Fund	27,962
Total	$ 34,123

Other Information

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

The following is a summary of the inputs used, as of October 31, 2014, 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 in the tables 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:
Consumer Discretionary	$ 26,857,128	$ 13,750,801	$ 13,106,327	$ -
Consumer Staples	29,766,150	18,905,417	10,860,733	-
Energy	38,999,953	18,063,681	20,936,272	-
Financials	105,353,631	43,274,884	62,078,747	-
Health Care	8,690,769	3,011,272	5,679,497	-
Industrials	22,948,406	7,630,621	14,885,094	432,691
Information Technology	45,192,020	1,492,408	43,699,612	-
Materials	29,206,542	14,684,171	14,483,662	38,709
Telecommunication Services	30,371,113	11,474,419	18,896,694	-
Utilities	13,846,268	6,007,601	7,838,667	-
Government Obligations	999,856	-	999,856	-
Money Market Funds	7,137,481	7,137,481	-	-
Total Investments in Securities:	$ 359,369,317	$ 145,432,756	$ 213,465,161	$ 471,400
Derivative Instruments:
Assets
Futures Contracts	$ 287,573	$ 287,573	$ -	$ -

The following is a summary of transfers between Level 1 and Level 2 for the period ended October 31, 2014. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:

Transfers	Total
Level 1 to Level 2	$ 95,812,557
Level 2 to Level 1	$ 0

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of October 31, 2014. 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)	$ 287,573	$ -
Total Value of Derivatives	$ 287,573	$ -

(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. Only the period end receivable or payable for daily variation margin and net unrealized appreciation (depreciation) are presented in the Statement of Assets and Liabilities.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Emerging Markets Index

Financial Statements

Statement of Assets and Liabilities

	October 31, 2014

Assets
Investment in securities, at value (including securities loaned of $676,328) - See accompanying schedule: Unaffiliated issuers (cost $335,142,111)	$ 352,231,836
Fidelity Central Funds (cost $7,137,481)	7,137,481
Total Investments (cost $342,279,592)		$ 359,369,317
Foreign currency held at value (cost $2,779,358)		2,776,996
Receivable for fund shares sold		985,891
Dividends receivable		222,154
Distributions receivable from Fidelity Central Funds		4,349
Receivable for daily variation margin for derivative instruments		39,474
Receivable from investment adviser for expense reductions		41,831
Other receivables		3,755
Total assets		363,443,767

Liabilities
Payable for fund shares redeemed	473,160
Accrued management fee	71,859
Other affiliated payables	29,010
Other payables and accrued expenses	286,281
Collateral on securities loaned, at value	741,120
Total liabilities		1,601,430

Net Assets		$ 361,842,337
Net Assets consist of:
Paid in capital		$ 351,184,379
Undistributed net investment income		6,018,159
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(12,443,909)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		17,083,708
Net Assets		$ 361,842,337

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Assets and Liabilities - continued

	October 31, 2014

Investor Class: Net Asset Value, offering price and redemption price per share ($16,791,650 ÷ 1,652,701 shares)		$ 10.16

Fidelity Advantage Class: Net Asset Value, offering price and redemption price per share ($323,341,573 ÷ 31,796,293 shares)		$ 10.17

Institutional Class: Net Asset Value, offering price and redemption price per share ($21,597,911 ÷ 2,120,928 shares)		$ 10.18

Fidelity Advantage Institutional Class: Net Asset Value, offering price and redemption price per share ($111,203 ÷ 10,921 shares)		$ 10.18

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Emerging Markets Index
Financial Statements - continued

Statement of Operations

	Year ended October 31, 2014

Investment Income
Dividends		$ 8,501,134
Interest		611
Income from Fidelity Central Funds		34,123
Income before foreign taxes withheld		8,535,868
Less foreign taxes withheld		(953,211)
Total income		7,582,657

Expenses
Management fee	$ 670,738
Transfer agent fees	274,270
Independent trustees' compensation	1,085
Interest	860
Miscellaneous	409
Total expenses before reductions	947,362
Expense reductions	(402,076)	545,286
Net investment income (loss)		7,037,371
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers (net of foreign taxes of $1,529)	(2,732,148)
Foreign currency transactions	(206,516)
Futures contracts	(428,790)
Total net realized gain (loss)		(3,367,454)
Change in net unrealized appreciation (depreciation) on: Investment securities (net of increase in deferred foreign taxes of $132,805)	5,419,393
Assets and liabilities in foreign currencies	(3,715)
Futures contracts	176,040
Total change in net unrealized appreciation (depreciation)		5,591,718
Net gain (loss)		2,224,264
Net increase (decrease) in net assets resulting from operations		$ 9,261,635

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended October 31, 2014	Year ended October 31, 2013
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 7,037,371	$ 4,894,964
Net realized gain (loss)	(3,367,454)	(4,980,110)
Change in net unrealized appreciation (depreciation)	5,591,718	6,986,778
Net increase (decrease) in net assets resulting from operations	9,261,635	6,901,632
Distributions to shareholders from net investment income	(4,624,751)	(1,410,281)
Distributions to shareholders from net realized gain	-	(695,069)
Total distributions	(4,624,751)	(2,105,350)
Share transactions - net increase (decrease)	128,951,374	126,222,608
Redemption fees	77,190	278,931
Total increase (decrease) in net assets	133,665,448	131,297,821

Net Assets
Beginning of period	228,176,889	96,879,068
End of period (including undistributed net investment income of $6,018,159 and undistributed net investment income of $4,171,244, respectively)	$ 361,842,337	$ 228,176,889

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Investor Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.04	$ 9.76	$ 9.54	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.25	.26	.27	.02
Net realized and unrealized gain (loss)	.06	.19	(.06)	(.48)
Total from investment operations	.31	.45	.21	(.46)
Distributions from net investment income	(.19)	(.12)	-	-
Distributions from net realized gain	-	(.06)	(.03)	-
Total distributions	(.19)	(.19) ^K	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.02	.04	- ^J
Net asset value, end of period	$ 10.16	$ 10.04	$ 9.76	$ 9.54
Total Return^{B, C}	3.18%	4.78%	2.68%	(4.60)%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.46%	.46%	.46%	.46% ^A
Expenses net of fee waivers, if any	.31%	.32%	.33%	.33% ^A
Expenses net of all reductions	.31%	.32%	.33%	.33% ^A
Net investment income (loss)	2.50%	2.56%	2.80%	1.76% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 16,792	$ 10,259	$ 44,554	$ 14,188
Portfolio turnover rate ^F	8%	33%	62%	-% ^{G, L}

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Amount represents less than 1%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^I Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^JAmount represents less than $.01 per share.

^KTotal distributions of $.19 per share is comprised of distributions from net investment income of $.122 and distributions from net realized gain of $.064 per share.

^LAmount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.05	$ 9.77	$ 9.54	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.26	.26	.28	.02
Net realized and unrealized gain (loss)	.06	.21	(.06)	(.48)
Total from investment operations	.32	.47	.22	(.46)
Distributions from net investment income	(.20)	(.14)	-	-
Distributions from net realized gain	-	(.06)	(.03)	-
Total distributions	(.20)	(.20)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.04	- ^J
Net asset value, end of period	$ 10.17	$ 10.05	$ 9.77	$ 9.54
Total Return^{B, C}	3.30%	4.93%	2.78%	(4.60)%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.35%	.35%	.35%	.35% ^A
Expenses net of fee waivers, if any	.20%	.20%	.22%	.22% ^A
Expenses net of all reductions	.20%	.20%	.22%	.22% ^A
Net investment income (loss)	2.61%	2.68%	2.91%	1.87% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 323,342	$ 210,071	$ 51,728	$ 10,517
Portfolio turnover rate ^F	8%	33%	62%	-% ^{G, K}

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Amount represents less than 1%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^JAmount represents less than $.01 per share.

^KAmount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Institutional Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.06	$ 9.79	$ 9.54	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.26	.27	.28	.03
Net realized and unrealized gain (loss)	.06	.20	(.04)	(.49)
Total from investment operations	.32	.47	.24	(.46)
Distributions from net investment income	(.20)	(.15)	-	-
Distributions from net realized gain	-	(.06)	(.03)	-
Total distributions	(.20)	(.21)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.04	- ^J
Net asset value, end of period	$ 10.18	$ 10.06	$ 9.79	$ 9.54
Total Return^{B, C}	3.37%	4.91%	2.99%	(4.60)%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.28%	.28%	.28%	.28% ^A
Expenses net of fee waivers, if any	.13%	.13%	.15%	.15% ^A
Expenses net of all reductions	.13%	.13%	.15%	.15% ^A
Net investment income (loss)	2.68%	2.74%	2.99%	1.93% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 21,598	$ 474	$ 517	$ 4,771
Portfolio turnover rate ^F	8%	33%	62%	-% ^{G, K}

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Amount represents less than 1%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^JAmount represents less than $.01 per share.

^KAmount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Institutional Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.06	$ 9.79	$ 9.54	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.27	.26	.28	.03
Net realized and unrealized gain (loss)	.06	.21	(.04)	(.49)
Total from investment operations	.33	.47	.24	(.46)
Distributions from net investment income	(.21)	(.15)	-	-
Distributions from net realized gain	-	(.06)	(.03)	-
Total distributions	(.21)	(.21)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.04	- ^J
Net asset value, end of period	$ 10.18	$ 10.06	$ 9.79	$ 9.54
Total Return^{B, C}	3.40%	4.95%	2.99%	(4.60)%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.25%	.24%	.25%	.25% ^A
Expenses net of fee waivers, if any	.10%	.10%	.12%	.12% ^A
Expenses net of all reductions	.10%	.10%	.12%	.12% ^A
Net investment income (loss)	2.71%	2.78%	3.02%	1.96% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 111	$ 7,372	$ 80	$ 4,771
Portfolio turnover rate ^F	8%	33%	62%	-% ^{G, K}

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Amount represents less than 1%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^JAmount represents less than $.01 per share.

^KAmount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Global ex U.S. Index Fund

Performance: The Bottom Line

Average Annual Total Returns

Periods ended October 31, 2014	Past 1 year	Life of fund ^A
Investor Class	0.46%	7.96%
Fidelity Advantage Class	0.59%	8.03%

^A From September 8, 2011.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Spartan Global ex U.S. Index Fund - Investor Class on September 8, 2011, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the MSCI ACWI (All Country World Index) ex USA Index performed over the same period.

ang2262376

Annual Report

Spartan Global ex U.S. Index Fund

Management's Discussion of Fund Performance

Comments from Patrick Waddell, Senior Portfolio Manager of the Geode Capital Management, LLC, investment management team for Spartan® Global ex U.S. Index Fund: For the 12-month period ending October 31, 2014, the fund's Investor Class and Fidelity Advantage® Class shares gained 0.46% and 0.59%, respectively, compared with 0.18% for the MSCI ACWI (All Country World Index) ex USA Index. (The fund's performance relative to the index can be affected by Fidelity's methodologies for valuing certain foreign stocks and for incorporating foreign exchange rates, which differ from those used by the index.) Health care was the strongest-performing sector in the benchmark. Within that group, various large European drug makers made meaningful contributions, most notably Novartis and Roche Holdings (based in Switzerland), AstraZeneca (U.K.) and Novo-Nordisk (Denmark). Information technology stocks were another source of strength, led by Chinese social-media company Tencent Holdings. In contrast, materials and energy stocks lagged. Australian mining company BHP Billiton was a standout detractor in the materials sector, while Russian energy giant Gazprom suffered a roughly -27% return. The biggest individual detractor of the period was Tesco, a U.K. retailer whose shares hit their lowest point in more than a decade.

Annual Report

Spartan Global ex U.S. Index Fund

Investment Changes (Unaudited)

Top Ten Stocks as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Nestle SA (Switzerland, Food Products)	1.2	1.3
Novartis AG (Switzerland, Pharmaceuticals)	1.1	1.1
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)	1.1	1.1
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks)	1.0	1.0
Toyota Motor Corp. (Japan, Automobiles)	0.9	0.8
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels)	0.7	0.9
Total SA (France, Oil, Gas & Consumable Fuels)	0.7	0.8
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals)	0.7	0.8
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels)	0.6	0.6
Bayer AG (Germany, Pharmaceuticals)	0.6	0.6
	8.6
Market Sectors as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	26.5	26.6
Industrials	9.5	10.1
Consumer Discretionary	9.4	9.6
Consumer Staples	8.6	9.6
Health Care	8.3	7.8
Energy	8.3	9.5
Materials	7.2	8.3
Information Technology	7.0	6.9
Telecommunication Services	5.2	5.2
Utilities	3.3	3.3

Geographic Diversification (% of fund's net assets)
As of October 31, 2014
	Japan 14.1%
	United Kingdom 12.9%
	Canada 7.4%
	Switzerland 6.1%
	France 6.0%
	Germany 5.7%
	Australia 5.3%
	Korea (South) 2.9%
	Hong Kong 2.7%
	Other* 36.9%

ang2262388

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

* Includes Short-Term Investments and Net Other Assets (Liabilities).

As of April 30, 2014
	United Kingdom 14.3%
	Japan 13.3%
	Canada 7.3%
	France 7.0%
	Germany 6.5%
	Switzerland 6.5%
	Australia 5.5%
	Korea (South) 3.2%
	Spain 2.5%
	Other* 33.9%

ang2262400

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

* Includes Short-Term Investments and Net Other Assets (Liabilities).

Annual Report

Spartan Global ex U.S. Index Fund

Investments October 31, 2014

Showing Percentage of Net Assets

Common Stocks - 91.8%
	Shares		Value
Australia - 5.3%
AGL Energy Ltd.	25,980		$ 311,437
ALS Ltd.	13,184		65,292
Alumina Ltd. (a)	96,661		139,703
Amcor Ltd.	45,401		471,573
AMP Ltd.	111,907		577,107
APA Group unit	31,566		219,457
Asciano Ltd.	37,852		209,377
ASX Ltd.	7,447		236,273
Aurizon Holdings Ltd.	82,215		341,004
Australia & New Zealand Banking Group Ltd.	102,949		3,046,321
Bank of Queensland Ltd.	13,894		154,457
Bendigo & Adelaide Bank Ltd.	15,846		174,020
BHP Billiton Ltd.	120,747		3,612,370
Boral Ltd.	28,306		124,325
Brambles Ltd.	58,901		495,407
Caltex Australia Ltd.	5,354		147,466
CFS Retail Property Trust unit	79,760		148,353
Coca-Cola Amatil Ltd.	22,132		178,591
Cochlear Ltd.	2,008		130,143
Commonwealth Bank of Australia	60,799		4,323,386
Computershare Ltd.	17,571		190,692
Crown Ltd.	13,457		172,608
CSL Ltd.	17,974		1,269,017
DEXUS Property Group unit	205,824		219,986
Federation Centres unit	50,313		120,822
Flight Centre Travel Group Ltd.	2,316		85,935
Fortescue Metals Group Ltd.	56,013		172,875
Goodman Group unit	65,144		318,046
Harvey Norman Holdings Ltd.	21,817		73,366
Iluka Resources Ltd.	15,305		98,254
Incitec Pivot Ltd.	57,937		148,672
Insurance Australia Group Ltd.	87,709		507,179
Leighton Holdings Ltd.	3,883		75,598
Lend Lease Group unit	21,184		295,454
Macquarie Group Ltd.	10,877		587,837
Metcash Ltd.	34,879		87,113
Mirvac Group unit	142,488		226,059
National Australia Bank Ltd.	88,318		2,732,186
Newcrest Mining Ltd. (a)	29,272		243,438
Orica Ltd.	14,271		260,506
Origin Energy Ltd.	41,836		525,574
Qantas Airways Ltd. (a)	33,760		50,441
QBE Insurance Group Ltd.	50,984		517,891
Common Stocks - continued
	Shares		Value
Australia - continued
Ramsay Health Care Ltd.	5,019		$ 232,020
realestate.com.au Ltd.	1,949		78,040
Rio Tinto Ltd.	16,423		876,961
Santos Ltd.	37,287		427,281
Scentre Group unit (a)	201,162		641,695
SEEK Ltd.	12,614		185,109
Sonic Healthcare Ltd.	13,871		229,548
SP AusNet unit	65,013		78,594
Stockland Corp. Ltd. unit	86,453		323,229
Suncorp Group Ltd.	48,295		628,426
Sydney Airport unit	40,523		157,543
Tabcorp Holdings Ltd.	26,391		94,801
Tatts Group Ltd.	52,681		161,261
Telstra Corp. Ltd.	162,957		810,899
The GPT Group unit	62,197		226,078
Toll Holdings Ltd.	23,672		118,602
TPG Telecom Ltd.	11,850		76,728
Transurban Group unit	68,459		490,297
Treasury Wine Estates Ltd.	25,954		105,969
Wesfarmers Ltd.	42,902		1,669,647
Westfield Corp. unit	75,152		528,093
Westpac Banking Corp.	116,668		3,581,040
Woodside Petroleum Ltd.	27,700		983,915
Woolworths Ltd.	47,243		1,499,285
WorleyParsons Ltd.	7,968		95,104
TOTAL AUSTRALIA			38,385,776
Austria - 0.1%
Andritz AG	2,562		123,671
Erste Group Bank AG	10,702		272,382
IMMOFINANZ Immobilien Anlagen AG	32,179		97,264
OMV AG	5,311		166,953
Raiffeisen International Bank-Holding AG	4,537		96,768
Vienna Insurance Group AG	1,177		56,579
Voestalpine AG	4,358		174,514
TOTAL AUSTRIA			988,131
Bailiwick of Guernsey - 0.0%
Friends Life Group Ltd.	53,721		277,922
Bailiwick of Jersey - 0.8%
Experian PLC	37,430		561,944
Common Stocks - continued
	Shares		Value
Bailiwick of Jersey - continued
Glencore Xstrata PLC	399,397		$ 2,043,890
Petrofac Ltd.	9,775		165,753
Randgold Resources Ltd.	3,403		199,172
Shire PLC	22,125		1,484,520
Wolseley PLC	10,013		531,310
WPP PLC	49,970		976,046
TOTAL BAILIWICK OF JERSEY			5,962,635
Belgium - 0.8%
Ageas	8,621		287,857
Anheuser-Busch InBev SA NV	30,117		3,339,807
Belgacom SA	5,721		215,867
Colruyt NV	2,743		124,932
Delhaize Group SA	3,950		270,081
Groupe Bruxelles Lambert SA	2,968		265,004
KBC Groupe SA (a)	9,394		503,257
Solvay SA Class A	2,247		306,081
Telenet Group Holding NV (a)	2,140		121,014
UCB SA	4,749		383,198
Umicore SA	3,962		155,106
TOTAL BELGIUM			5,972,204
Bermuda - 0.4%
Alibaba Health Information Technology Ltd. (a)	96,000		59,964
Alibaba Pictures Group Ltd. (a)	190,000		39,445
Apollo Solar Energy Technology Holdings Ltd. (d)	450,000		102,672
Beijing Enterprises Water Group Ltd.	156,000		111,695
Brilliance China Automotive Holdings Ltd.	108,000		186,761
Cheung Kong Infrastructure Holdings Ltd.	23,000		167,999
China Gas Holdings Ltd.	74,000		132,303
China Resources Gas Group Ltd.	32,000		91,472
Cosco Pacific Ltd.	72,707		95,676
Credicorp Ltd. (United States)	2,501		402,661
First Pacific Co. Ltd.	80,852		87,256
GOME Electrical Appliances Holdings Ltd.	391,104		61,617
Haier Electronics Group Co. Ltd.	37,000		99,932
Kerry Properties Ltd.	24,000		82,330
Kunlun Energy Co. Ltd.	124,000		164,599
Li & Fung Ltd.	220,000		268,122
Nine Dragons Paper (Holdings) Ltd.	67,000		51,931
Noble Group Ltd.	157,131		146,267
NWS Holdings Ltd.	59,603		111,419
Common Stocks - continued
	Shares		Value
Bermuda - continued
Seadrill Ltd.	14,342		$ 322,565
Shangri-La Asia Ltd.	52,000		75,504
Sihuan Pharmaceutical Holdings Group Ltd.	161,000		128,559
Yue Yuen Industrial (Holdings) Ltd.	26,500		88,960
TOTAL BERMUDA			3,079,709
Brazil - 1.2%
All America Latina Logistica SA	15,900		43,570
Ambev SA	176,400		1,167,505
B2W Companhia Global do Varejo (a)	3,900		50,806
Banco Bradesco SA	22,450		330,512
Banco do Brasil SA	32,300		361,467
Banco Santander SA (Brasil) unit	34,900		188,028
BB Seguridade Participacoes SA	26,300		350,893
BM&F BOVESPA SA	68,600		301,764
BR Malls Participacoes SA	15,500		124,480
BR Properties SA	5,800		29,305
Brasil Foods SA	24,700		642,844
CCR SA	32,000		238,266
Centrais Eletricas Brasileiras SA (Electrobras)	10,800		27,110
Cetip SA - Mercados Organizado	6,804		86,220
Cielo SA	26,564		436,212
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)	11,800		92,337
Companhia de Saneamento de Minas Gerais	1,800		20,500
Companhia Siderurgica Nacional SA (CSN)	25,300		84,235
Cosan Logistica SA (a)	3,900		6,532
Cosan SA Industria e Comercio	3,900		54,442
CPFL Energia SA	9,700		72,812
Cyrela Brazil Realty SA	9,300		46,239
Drogasil SA	8,500		77,148
Duratex SA	9,944		35,716
Ecorodovias Infraestrutura e Logistica SA	8,100		36,219
Embraer SA	24,100		233,326
Energias do Brasil SA	10,900		42,537
Estacio Participacoes SA	10,200		118,140
Fibria Celulose SA (a)	8,800		106,577
Hypermarcas SA (a)	13,900		97,102
JBS SA	28,400		126,648
Klabin SA unit	16,600		82,065
Kroton Educacional SA	64,752		461,488
Localiza Rent A Car SA	5,680		81,880
Common Stocks - continued
	Shares		Value
Brazil - continued
Lojas Americanas SA	7,875		$ 38,614
Lojas Renner SA	4,700		140,740
M. Dias Branco SA	1,000		38,888
Multiplan Empreendimentos Imobiliarios SA	3,100		64,117
Natura Cosmeticos SA	6,900		100,246
Odontoprev SA	7,700		27,812
Petroleo Brasileiro SA - Petrobras (ON)	111,600		659,809
Porto Seguro SA	4,700		56,334
Qualicorp SA (a)	7,700		78,308
Souza Cruz SA	15,200		122,807
Sul America SA unit	6,553		34,803
Terna Participacoes SA unit	2,800		20,792
TIM Participacoes SA	33,300		181,021
Totvs SA	4,300		62,681
Tractebel Energia SA	6,300		85,809
Ultrapar Participacoes SA	13,300		290,111
Vale SA	49,300		497,397
Via Varejo SA unit (a)	3,800		36,560
Weg SA	11,200		132,118
TOTAL BRAZIL			8,923,892
Canada - 6.9%
Agnico Eagle Mines Ltd. (Canada)	7,924		186,737
Agrium, Inc.	5,409		529,214
Alimentation Couche-Tard, Inc. Class B (sub. vtg.)	15,669		531,777
AltaGas Ltd.	4,886		201,587
ARC Resources Ltd.	11,578		273,052
ATCO Ltd. Class I (non-vtg.)	3,049		123,902
Athabasca Oil Corp. (a)	10,567		34,222
Bank of Montreal	24,029		1,742,505
Bank of Nova Scotia	45,561		2,790,134
Barrick Gold Corp.	43,927		521,488
Baytex Energy Corp.	6,320		193,124
BCE, Inc.	10,592		470,369
BlackBerry Ltd. (a)	19,386		203,553
Bombardier, Inc. Class B (sub. vtg.)	56,334		185,439
Brookfield Asset Management, Inc. Class A	20,872		1,021,701
CAE, Inc.	10,661		136,591
Cameco Corp.	14,991		260,302
Canadian Imperial Bank of Commerce	14,814		1,352,391
Canadian National Railway Co.	30,826		2,173,314
Canadian Natural Resources Ltd.	41,011		1,431,137
Common Stocks - continued
	Shares		Value
Canada - continued
Canadian Oil Sands Ltd.	18,492		$ 289,755
Canadian Pacific Railway Ltd.	6,571		1,366,789
Canadian Tire Ltd. Class A (non-vtg.)	2,934		321,684
Canadian Utilities Ltd. Class A (non-vtg.)	4,408		152,376
Catamaran Corp. (a)	7,776		370,499
Cenovus Energy, Inc.	28,312		700,609
CGI Group, Inc. Class A (sub. vtg.) (a)	8,455		290,248
CI Financial Corp.	8,416		244,703
Crescent Point Energy Corp.	15,530		513,280
Dollarama, Inc.	2,321		203,918
Eldorado Gold Corp.	28,149		153,851
Empire Co. Ltd. Class A (non-vtg.)	2,094		144,864
Enbridge, Inc.	31,271		1,479,688
Encana Corp.	27,914		520,114
Enerplus Corp.	8,125		116,355
Fairfax Financial Holdings Ltd. (sub. vtg.)	765		349,516
Finning International, Inc.	6,738		173,973
First Capital Realty, Inc.	2,971		48,530
First Quantum Minerals Ltd.	22,595		340,815
Fortis, Inc.	8,147		265,434
Franco-Nevada Corp.	6,047		283,075
George Weston Ltd.	1,948		159,152
Gildan Activewear, Inc.	4,542		270,574
Goldcorp, Inc.	30,613		574,478
Great-West Lifeco, Inc.	11,120		311,583
H&R REIT/H&R Finance Trust	5,557		110,593
Husky Energy, Inc.	13,010		314,096
IGM Financial, Inc.	3,910		156,393
Imperial Oil Ltd.	11,146		536,309
Industrial Alliance Insurance and Financial Services, Inc.	3,633		146,410
Intact Financial Corp.	4,820		323,187
Inter Pipeline Ltd.	12,019		378,683
Keyera Corp.	3,136		249,478
Kinross Gold Corp. (a)	44,425		94,995
Loblaw Companies Ltd.	8,512		443,480
Magna International, Inc. Class A (sub. vtg.)	8,168		806,183
Manulife Financial Corp.	69,515		1,319,308
MEG Energy Corp. (a)	5,635		135,994
Methanex Corp.	3,699		219,830
Metro, Inc. Class A (sub. vtg.)	3,373		237,027
National Bank of Canada	12,252		572,677
New Gold, Inc. (a)	20,473		74,295
Common Stocks - continued
	Shares		Value
Canada - continued
Onex Corp. (sub. vtg.)	3,401		$ 191,890
Open Text Corp.	4,578		252,855
Pacific Rubiales Energy Corp.	12,240		184,624
Pembina Pipeline Corp.	12,072		500,853
Pengrowth Energy Corp.	20,106		81,170
Penn West Petroleum Ltd.	17,783		80,470
Peyto Exploration & Development Corp.	5,603		158,140
Potash Corp. of Saskatchewan, Inc.	31,773		1,084,519
Power Corp. of Canada (sub. vtg.)	14,050		370,744
Power Financial Corp.	9,461		277,102
RioCan (REIT)	5,753		135,524
Rogers Communications, Inc. Class B (non-vtg.)	13,737		516,547
Royal Bank of Canada	53,983		3,832,288
Saputo, Inc.	9,262		262,809
Shaw Communications, Inc. Class B	14,876		381,981
Silver Wheaton Corp.	13,097		227,648
SNC-Lavalin Group, Inc.	5,524		238,007
Sun Life Financial, Inc.	22,855		812,969
Suncor Energy, Inc.	55,096		1,956,383
Talisman Energy, Inc.	39,201		250,082
Teck Resources Ltd. Class B (sub. vtg.)	21,419		338,470
TELUS Corp.	7,491		268,454
The Toronto-Dominion Bank	68,907		3,391,395
Thomson Reuters Corp.	13,490		501,873
Tim Hortons, Inc.	371		30,058
Tim Hortons, Inc. (Canada)	4,786		387,789
Tourmaline Oil Corp. (a)	6,499		233,135
TransAlta Corp.	10,294		100,104
TransCanada Corp.	26,519		1,307,068
Turquoise Hill Resources Ltd. (a)	31,312		105,017
Valeant Pharmaceuticals International (Canada) (a)	11,971		1,591,106
Vermilion Energy, Inc.	3,761		213,436
Yamana Gold, Inc.	31,511		125,535
TOTAL CANADA			50,517,385
Cayman Islands - 1.0%
AAC Technology Holdings, Inc.	26,500		158,968
Agile Property Holdings Ltd.	60,000		33,817
Agile Property Holdings Ltd. rights 11/11/14 (a)	7,500		496
Anta Sports Products Ltd.	37,000		72,623
ASM Pacific Technology Ltd.	8,100		89,104
Belle International Holdings Ltd.	170,000		216,329
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
Biostime International Holdings Ltd.	5,000		$ 11,321
Chailease Holding Co. Ltd.	31,900		78,657
China Huishan Dairy Hld Co. Ltd. (d)	261,000		58,552
China Mengniu Dairy Co. Ltd.	51,000		225,277
China Resources Cement Holdings Ltd.	78,198		53,175
China Resources Land Ltd.	74,000		176,011
China State Construction International Holdings Ltd.	60,000		92,754
Country Garden Holdings Co. Ltd.	175,644		69,007
ENN Energy Holdings Ltd.	28,000		181,675
Evergrande Real Estate Group Ltd. (d)	219,000		84,157
GCL-Poly Energy Holdings Ltd. (a)	354,000		119,306
Geely Automobile Holdings Ltd.	185,000		82,815
Golden Eagle Retail Group Ltd. (H Shares)	14,000		17,163
Haitian International Holdings Ltd.	26,000		55,772
Hengan International Group Co. Ltd.	28,500		300,412
Intime Department Store Group Co. Ltd.	48,000		41,803
Kingboard Chemical Holdings Ltd.	21,400		42,161
Kingsoft Corp. Ltd.	27,000		63,750
Lee & Man Paper Manufacturing Ltd.	47,000		25,792
Longfor Properties Co. Ltd.	46,500		53,942
MGM China Holdings Ltd.	35,600		114,447
New World China Land Ltd.	106,000		64,439
Sands China Ltd.	91,600		571,319
Shenzhou International Group Holdings Ltd.	20,000		69,049
Shimao Property Holdings Ltd.	47,500		102,231
Shui On Land Ltd.	105,503		24,085
Sino Biopharmaceutical Ltd.	116,000		116,787
SOHO China Ltd.	75,500		55,403
Tencent Holdings Ltd.	192,900		3,100,341
Tingyi (Cayman Islands) Holding Corp.	76,000		189,069
TPK Holding Co. Ltd.	8,295		48,892
Uni-President China Holdings Ltd.	39,605		36,800
Want Want China Holdings Ltd.	229,000		312,715
Wynn Macau Ltd.	60,000		216,906
Yingde Gases Group Co. Ltd.	44,000		34,357
Zhen Ding Technology Holding Ltd.	11,302		31,004
Zhongsheng Group Holdings Ltd. Class H	16,000		16,479
TOTAL CAYMAN ISLANDS			7,509,162
Chile - 0.3%
AES Gener SA	69,218		38,385
Aguas Andinas SA	97,664		58,437
Common Stocks - continued
	Shares		Value
Chile - continued
Banco de Chile	1,055,249		$ 128,921
Banco de Credito e Inversiones	1,205		67,431
Banco Santander Chile	2,522,728		134,155
CAP SA	3,258		31,197
Cencosud SA	42,610		121,968
Colbun SA (a)	257,068		69,157
Compania Cervecerias Unidas SA	5,512		57,729
Compania de Petroleos de Chile SA (COPEC)	15,734		190,724
CorpBanca SA	5,160,356		68,964
Empresa Nacional de Electricidad SA	108,548		169,023
Empresa Nacional de Telecomunicaciones SA (ENTEL)	4,791		51,622
Empresas CMPC SA	45,946		112,186
Enersis SA	677,255		216,563
LATAM Airlines Group SA (a)	12,457		150,024
S.A.C.I. Falabella	36,097		263,535
Vina Concha y Toro SA	12,259		23,439
TOTAL CHILE			1,953,460
China - 2.1%
Agricultural Bank of China Ltd. (H Shares)	819,000		380,584
Air China Ltd. (H Shares)	70,000		45,332
Aluminum Corp. of China Ltd. (H Shares) (a)	158,000		70,332
Anhui Conch Cement Co. Ltd. (H Shares)	46,500		152,281
AviChina Industry & Technology Co. Ltd. (H Shares)	68,000		51,797
Bank Communications Co. Ltd. (H Shares)	342,000		256,435
Bank of China Ltd. (H Shares)	3,001,000		1,436,433
BBMG Corp. (H Shares)	44,000		31,113
Beijing Capital International Airport Co. Ltd. (H Shares)	58,000		42,569
BYD Co. Ltd. (H Shares)	24,000		152,465
Changsha Zoomlion Heavy Industry Science & Technology Development Co. Ltd. (H Shares)	37,000		17,799
China BlueChemical Ltd. (H Shares)	78,000		27,699
China Cinda Asset Mngmt Co. Ltd. (H Shares)	205,000		97,024
China CITIC Bank Corp. Ltd. (H Shares)	321,000		209,115
China Coal Energy Co. Ltd. (H Shares)	156,000		95,568
China Communications Construction Co. Ltd. (H Shares)	155,000		118,991
China Communications Services Corp. Ltd. (H Shares)	110,000		51,651
China Construction Bank Corp. (H Shares)	2,722,000		2,030,882
China Cosco Holdings Co. Ltd. (H Shares) (a)	117,000		52,539
China Everbright Bank Co. Ltd. (H Shares)	100,000		49,031
China International Marine Containers (Group) Ltd. (H Shares)	16,700		39,005
China Life Insurance Co. Ltd. (H Shares)	282,000		841,480
Common Stocks - continued
	Shares		Value
China - continued
China Longyuan Power Grid Corp. Ltd. (H Shares)	106,000		$ 113,037
China Merchants Bank Co. Ltd. (H Shares)	168,751		312,734
China Minsheng Banking Corp. Ltd. (H Shares)	239,500		240,291
China National Building Materials Co. Ltd. (H Shares)	116,000		107,551
China Oilfield Services Ltd. (H Shares)	68,000		142,123
China Pacific Insurance Group Co. Ltd. (H Shares)	101,800		380,952
China Petroleum & Chemical Corp. (H Shares)	962,000		834,258
China Railway Construction Corp. Ltd. (H Shares)	71,500		75,118
China Railway Group Ltd. (H Shares)	164,000		101,172
China Shenhua Energy Co. Ltd. (H Shares)	129,500		365,000
China Shipping Container Lines Co. Ltd. (H Shares) (a)	156,000		44,491
China Telecom Corp. Ltd. (H Shares)	532,000		339,126
China Vanke Co. Ltd. (H Shares) (a)	44,800		83,462
Chongqing Changan Automobile Co. Ltd. (B Shares)	34,300		75,803
Chongqing Rural Commercial Bank Co. Ltd. (H Shares)	97,000		46,682
CITIC Securities Co. Ltd. (H Shares)	38,000		94,816
CSR Corp. Ltd. (H Shares)	78,000		79,356
Datang International Power Generation Co. Ltd. (H Shares)	104,000		54,464
Dongfeng Motor Group Co. Ltd. (H Shares)	102,000		157,739
Great Wall Motor Co. Ltd. (H Shares)	37,000		162,602
Guangzhou Automobile Group Co. Ltd. (H Shares)	80,000		71,178
Guangzhou R&F Properties Co. Ltd. (H Shares)	39,600		43,192
Haitong Securities Co. Ltd. (H Shares)	48,400		83,099
Huaneng Power International, Inc. (H Shares)	114,000		140,156
Industrial & Commercial Bank of China Ltd. (H Shares)	2,783,000		1,847,801
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)	35,000		57,103
Jiangsu Expressway Co. Ltd. (H Shares)	50,000		55,852
Jiangxi Copper Co. Ltd. (H Shares)	46,000		81,709
New China Life Insurance Co. Ltd. (H Shares)	30,800		115,259
People's Insurance Co. of China Group (H Shares)	237,000		102,442
PetroChina Co. Ltd. (H Shares)	796,000		996,548
PICC Property & Casualty Co. Ltd. (H Shares)	118,601		217,566
Ping An Insurance (Group) Co. of China Ltd. (H Shares)	77,500		633,542
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)	64,000		64,719
Shanghai Electric Group Co. Ltd. (H Shares)	82,000		41,084
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. Class H	15,000		54,004
Shanghai Pharma Holding Co. Ltd. (H Shares)	24,300		60,812
Sinopec Engineering Group Co. Ltd. (H Shares) (e)	46,000		44,490
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares)	147,000		45,577
Sinopharm Group Co. Ltd. (H Shares)	36,400		142,200
Tsingtao Brewery Co. Ltd. (H Shares)	14,000		103,491
Weichai Power Co. Ltd. (H Shares)	17,400		66,793
Common Stocks - continued
	Shares		Value
China - continued
Yanzhou Coal Mining Co. Ltd. (H Shares)	78,000		$ 65,956
Zhejiang Expressway Co. Ltd. (H Shares)	50,000		50,418
Zhuzhou CSR Times Electric Co. Ltd. (H Shares)	19,500		83,857
Zijin Mining Group Co. Ltd. (H Shares)	200,000		51,212
ZTE Corp. (H Shares)	26,400		64,021
TOTAL CHINA			15,444,983
Colombia - 0.1%
Almacenes Exito SA	7,290		102,822
Cementos Argos SA	15,648		79,856
Cemex Latam Holdings SA (a)	6,935		61,884
Corporacion Financiera Colombiana SA	3,185		62,694
Corporacion Financiera Colombiana SA (RFD)	86		1,684
Ecopetrol SA	189,677		253,517
Grupo de Inversiones Suramerica SA	10,233		212,767
Interconexion Electrica SA ESP	13,185		56,393
Inversiones Argos SA	10,535		114,592
Isagen SA	24,857		32,740
TOTAL COLOMBIA			978,949
Czech Republic - 0.1%
Ceske Energeticke Zavody A/S	6,005		166,093
Komercni Banka A/S	606		129,805
Telefonica Czech Rep A/S	2,853		31,873
TOTAL CZECH REPUBLIC			327,771
Denmark - 1.0%
A.P. Moller - Maersk A/S:
Series A	147		333,872
Series B	267		622,153
Carlsberg A/S Series B	3,893		342,796
Coloplast A/S Series B	4,027		350,528
Danske Bank A/S	24,619		675,214
DSV de Sammensluttede Vognmaend A/S	6,873		205,513
Novo Nordisk A/S Series B	75,354		3,406,206
Novozymes A/S Series B	9,009		417,877
Pandora A/S	4,368		367,708
TDC A/S (d)	31,606		241,109
Tryg A/S	896		96,849
Vestas Wind Systems A/S (a)	8,547		286,075
William Demant Holding A/S (a)	886		67,142
TOTAL DENMARK			7,413,042
Common Stocks - continued
	Shares		Value
Egypt - 0.1%
Commercial International Bank SAE	16,134		$ 110,342
Commercial International Bank SAE sponsored GDR	14,156		96,261
Global Telecom Holding (a)	35,582		21,498
Global Telecom Holding GDR (a)	10,000		30,030
Talaat Moustafa Group Holding	38,829		57,076
Telecom Egypt SAE	7,964		15,148
TOTAL EGYPT			330,355
Finland - 0.6%
Elisa Corp. (A Shares)	5,192		142,489
Fortum Corp.	16,861		390,682
Kone Oyj (B Shares)	11,743		504,750
Metso Corp.	4,029		131,424
Neste Oil Oyj (d)	5,227		112,991
Nokia Corp.	140,519		1,174,162
Nokian Tyres PLC (d)	3,944		111,155
Orion Oyj (B Shares)	3,759		127,610
Sampo Oyj (A Shares)	16,684		798,041
Stora Enso Oyj (R Shares)	20,853		171,817
UPM-Kymmene Corp.	20,184		319,205
Wartsila Corp.	5,575		258,214
TOTAL FINLAND			4,242,540
France - 6.0%
Accor SA	6,337		266,110
Aeroports de Paris	1,141		134,920
Air Liquide SA	5,608		676,413
Air Liquide SA	6,490		782,796
Alcatel-Lucent SA (a)	106,004		323,872
Alstom SA (a)	8,141		284,147
Arkema SA	2,056		126,814
Atos Origin SA	3,089		213,252
AXA SA	68,108		1,571,285
BIC SA	1,083		134,997
BNP Paribas SA	39,729		2,496,290
Bollore Group (d)	192		90,949
Bollore Group (a)	1		457
Bouygues SA	7,416		256,032
Bureau Veritas SA	7,971		197,080
Cap Gemini SA	5,477		360,059
Carrefour SA	23,510		688,517
Casino Guichard Perrachon SA	2,186		224,027
Common Stocks - continued
	Shares		Value
France - continued
Christian Dior SA	2,069		$ 365,969
CNP Assurances	6,821		127,447
Compagnie de St. Gobain	16,716		717,352
Credit Agricole SA	37,493		554,180
Danone SA	21,776		1,488,010
Dassault Systemes SA	4,842		306,846
Edenred SA	7,564		209,482
EDF SA	4,008		118,283
EDF SA	4,600		135,754
EDF SA	648		19,124
Essilor International SA	7,647		844,248
Eurazeo SA	1,498		100,150
Eutelsat Communications	5,636		182,643
Fonciere des Regions	960		88,182
GDF Suez	54,352		1,318,292
Gecina SA	1,077		145,761
Groupe Eurotunnel SA	17,901		226,121
ICADE	1,378		109,637
Iliad SA	1,007		220,205
Imerys SA	1,199		85,960
JCDecaux SA	2,346		77,819
Kering SA	2,840		547,900
Klepierre SA	3,792		163,942
L'Oreal SA	4,308		675,361
L'Oreal SA	597		93,591
L'Oreal SA	4,500		705,461
Lafarge SA (a)	449		31,121
Lafarge SA	3,400		235,660
Lafarge SA (Bearer)	3,207		222,283
Lagardere S.C.A. (Reg.)	4,745		115,445
Legrand SA	10,000		538,103
LVMH Moet Hennessy - Louis Vuitton SA	10,482		1,777,892
Michelin CGDE Series B	6,990		606,071
Natixis SA	33,410		229,896
Numericable Group SA	3,000		110,904
Orange SA	69,645		1,108,774
Pernod Ricard SA	7,935		903,190
Peugeot Citroen SA (a)	14,701		174,241
Publicis Groupe SA (a)	6,830		473,057
Remy Cointreau SA	1,007		71,639
Renault SA	7,246		537,828
Rexel SA	9,811		164,810
Common Stocks - continued
	Shares		Value
France - continued
Safran SA	10,179		$ 644,169
Sanofi SA	44,522		4,039,931
Schneider Electric SA	19,611		1,545,309
SCOR SE	5,840		178,862
Societe Generale Series A	27,020		1,300,736
Sodexo SA	987		95,077
Sodexo SA	512		49,321
Sodexo SA	1,068		102,880
Sodexo SA	1,000		96,330
Suez Environnement SA	10,722		180,449
Technip SA	3,884		280,937
Thales SA	3,435		170,418
Total SA	80,355		4,797,459
Unibail-Rodamco	3,669		940,022
Valeo SA	2,845		318,480
Vallourec SA	4,015		146,737
Veolia Environnement SA	16,193		268,947
VINCI SA	18,218		1,038,189
Vivendi SA	45,431		1,108,748
Wendel SA	1,150		126,732
Zodiac Aerospace	6,936		211,516
TOTAL FRANCE			43,397,900
Germany - 5.3%
adidas AG	7,866		572,215
Allianz SE	17,101		2,719,438
Axel Springer Verlag AG	1,356		74,411
BASF AG	34,515		3,038,054
Bayer AG	31,057		4,415,370
Bayerische Motoren Werke AG (BMW)	12,333		1,318,629
Beiersdorf AG	3,707		299,909
Brenntag AG	5,934		287,037
Celesio AG	1,885		62,126
Commerzbank AG (a)	36,665		552,050
Continental AG	4,128		810,351
Daimler AG (Germany)	36,154		2,810,355
Deutsche Bank AG	51,807		1,620,077
Deutsche Boerse AG	7,349		502,004
Deutsche Lufthansa AG	8,049		118,921
Deutsche Post AG	36,428		1,143,754
Deutsche Telekom AG	116,956		1,762,916
Deutsche Wohnen AG (Bearer)	10,855		244,581
Common Stocks - continued
	Shares		Value
Germany - continued
E.ON AG	75,141		$ 1,292,857
Fraport AG Frankfurt Airport Services Worldwide	1,528		94,439
Fresenius Medical Care AG & Co. KGaA	8,137		597,237
Fresenius SE & Co. KGaA	14,187		729,805
GEA Group AG	7,102		326,581
Hannover Reuck SE	2,345		195,390
HeidelbergCement Finance AG	5,194		353,561
Henkel AG & Co. KGaA	4,401		399,901
Hochtief AG	886		65,496
Hugo Boss AG (a)	1,269		168,328
Infineon Technologies AG	42,580		413,053
K&S AG	6,403		178,653
Kabel Deutschland Holding AG	764		103,400
Lanxess AG	3,475		180,633
Linde AG	6,973		1,285,828
MAN SE	1,390		158,319
Merck KGaA	4,924		444,709
Metro AG (a)	6,329		201,759
Muenchener Rueckversicherungs AG	6,478		1,273,294
OSRAM Licht AG (a)	3,245		113,699
ProSiebenSat.1 Media AG	8,291		334,086
RWE AG	18,396		651,476
SAP AG	34,648		2,360,756
Siemens AG	29,794		3,360,567
Sky Deutschland AG (a)	16,432		138,583
Telefonica Deutschland Holding AG	20,102		98,773
Thyssenkrupp AG (a)	17,057		409,865
United Internet AG	4,271		167,016
Volkswagen AG	1,036		220,315
TOTAL GERMANY			38,670,577
Greece - 0.1%
Alpha Bank AE (a)	150,441		98,033
EFG Eurobank Ergasias SA (a)	324,309		112,575
Folli Follie SA	1,374		44,940
Greek Organization of Football Prognostics SA	7,989		96,810
Hellenic Telecommunications Organization SA (a)	9,136		103,153
Jumbo SA	3,776		41,404
National Bank of Greece SA (a)	59,066		142,473
Piraeus Bank SA (a)	82,653		120,149
Common Stocks - continued
	Shares		Value
Greece - continued
Public Power Corp. of Greece (a)	4,688		$ 35,601
Titan Cement Co. SA (Reg.)	1,431		31,723
TOTAL GREECE			826,861
Hong Kong - 2.7%
AIA Group Ltd.	452,600		2,525,700
Bank of East Asia Ltd.	48,349		201,909
Beijing Enterprises Holdings Ltd.	19,500		159,211
BOC Hong Kong (Holdings) Ltd.	138,500		461,054
Cathay Pacific Airways Ltd.	46,000		86,280
Cheung Kong Holdings Ltd.	52,000		923,118
China Agri-Industries Holdings Ltd.	77,609		29,650
China Everbright International Ltd.	97,000		133,930
China Everbright Ltd.	34,000		66,136
China Merchants Holdings International Co. Ltd.	43,369		137,089
China Mobile Ltd.	229,000		2,849,337
China Overseas Land and Investment Ltd.	156,000		452,624
China Resources Enterprise Ltd.	42,000		99,897
China Resources Power Holdings Co. Ltd.	72,000		209,566
China Taiping Insurance Group Ltd. (a)	29,400		63,113
China Taiping Insurance Group Ltd. rights 11/18/14 (a)	6,174		3,782
China Unicom Ltd.	174,000		261,437
CITIC Pacific Ltd.	86,000		150,687
CLP Holdings Ltd.	71,000		611,389
CNOOC Ltd.	673,000		1,053,843
CSPC Pharmaceutical Group Ltd.	92,000		84,757
Far East Horizon Ltd.	46,000		42,783
Fosun International Ltd.	68,500		81,252
Franshion Properties China Ltd.	102,000		24,078
Galaxy Entertainment Group Ltd.	88,000		601,735
Guangdong Investment Ltd.	94,000		123,650
Hang Lung Properties Ltd.	81,000		252,941
Hang Seng Bank Ltd.	29,300		496,469
Henderson Land Development Co. Ltd.	38,574		260,597
HKT Trust/HKT Ltd. unit	90,860		110,689
Hong Kong & China Gas Co. Ltd.	240,182		560,870
Hong Kong Exchanges and Clearing Ltd.	41,739		925,125
Hutchison Whampoa Ltd.	80,000		1,014,445
Hysan Development Co. Ltd.	25,020		114,163
Lenovo Group Ltd.	236,000		347,865
Link (REIT)	87,047		511,888
MTR Corp. Ltd.	54,020		220,266
Common Stocks - continued
	Shares		Value
Hong Kong - continued
New World Development Co. Ltd.	202,898		$ 255,044
PCCW Ltd.	148,592		94,462
Poly Property Group Co. Ltd.	57,000		22,081
Power Assets Holdings Ltd.	52,500		506,906
Shanghai Industrial Holdings Ltd.	18,000		55,500
Sino Land Ltd.	111,579		184,427
Sino-Ocean Land Holdings Ltd.	137,091		78,385
SJM Holdings Ltd.	68,000		143,724
Sun Art Retail Group Ltd.	94,000		100,771
Sun Hung Kai Properties Ltd.	61,781		921,841
Sun Hung Kai Properties Ltd. warrants 4/22/16 (a)	3,861		8,426
Swire Pacific Ltd. (A Shares)	24,500		321,356
Swire Properties Ltd.	46,000		147,398
Techtronic Industries Co. Ltd.	53,500		167,487
Wharf Holdings Ltd.	57,000		421,579
Wheelock and Co. Ltd.	34,000		163,884
Yuexiu Property Co. Ltd.	148,000		27,296
TOTAL HONG KONG			19,873,892
Hungary - 0.1%
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)	1,475		70,191
OTP Bank PLC	8,907		147,264
Richter Gedeon PLC	5,293		80,795
TOTAL HUNGARY			298,250
India - 1.5%
ACC Ltd.	699		17,063
Adani Enterprises Ltd.	5,076		40,050
Adani Ports & Special Economic Zone	16,830		78,228
Aditya Birla Nuvo Ltd.	1,603		43,902
Ambuja Cements Ltd.	22,620		83,783
Apollo Hospitals Enterprise Ltd. (a)	3,275		59,433
Asian Paints India Ltd.	10,735		114,689
Aurobindo Pharma Ltd.	5,200		82,007
Bajaj Auto Ltd. (a)	2,945		125,171
Bharat Heavy Electricals Ltd.	22,473		93,887
Bharat Petroleum Corp. Ltd.	6,682		78,227
Bharti Airtel Ltd. (a)	20,467		132,994
Cairn India Ltd.	14,258		66,048
Cipla Ltd.	13,113		142,376
Coal India Ltd.	18,705		112,790
Dabur India Ltd.	20,469		75,446
Common Stocks - continued
	Shares		Value
India - continued
Divi's Laboratories Ltd. (a)	1,841		$ 56,149
DLF Ltd. (a)	17,033		34,636
Dr. Reddy's Laboratories Ltd. (a)	4,656		239,999
GAIL India Ltd.	10,902		93,702
GlaxoSmithKline Consumer Healthcare Ltd.	360		32,415
Godrej Consumer Products Ltd.	4,245		67,023
HCL Technologies Ltd.	9,017		236,481
HDFC Bank Ltd.	14,354		232,755
Hero Motocorp Ltd.	3,219		160,739
Hindalco Industries Ltd. (a)	44,119		117,330
Hindustan Unilever Ltd.	28,770		345,704
Housing Development Finance Corp. Ltd.	55,918		1,007,041
ICICI Bank Ltd. (a)	7,850		208,472
Idea Cellular Ltd. (a)	36,257		96,056
Infosys Ltd.	16,706		1,107,361
Infosys Ltd. sponsored ADR	600		40,116
ITC Ltd. (a)	84,114		486,339
Jaiprakash Associates Ltd. (a)	35,857		18,187
Jindal Steel & Power Ltd.	11,844		31,207
JSW Steel Ltd.	2,648		54,380
Larsen & Toubro Ltd. (a)	11,678		314,713
LIC Housing Finance Ltd.	7,810		45,991
Mahindra & Mahindra Financial Services Ltd.	11,836		56,543
Mahindra & Mahindra Ltd. (a)	12,409		263,838
Nestle India Ltd.	784		81,008
NTPC Ltd.	61,895		151,153
Oil & Natural Gas Corp. Ltd.	28,254		184,895
Oil India Ltd.	3,956		40,709
Piramal Enterprises Ltd. (a)	2,759		36,222
Power Finance Corp. Ltd.	8,121		37,336
Power Grid Corp. of India Ltd.	35,757		84,840
Ranbaxy Laboratories Ltd. (a)	4,891		50,423
Reliance Capital Ltd. (a)	4,027		31,130
Reliance Communication Ltd. (a)	35,514		61,323
Reliance Industries Ltd.	48,806		792,066
Reliance Infrastructure Ltd. (a)	4,106		42,579
Reliance Power Ltd. (a)	12,443		15,455
Rural Electrification Corp. Ltd.	8,729		42,878
Sesa Sterlite Ltd.	43,746		182,520
Shriram Transport Finance Co. Ltd.	4,923		76,157
Siemens India Ltd.	2,168		30,814
State Bank of India	5,306		233,498
Common Stocks - continued
	Shares		Value
India - continued
Sun Pharmaceutical Industries Ltd.	27,412		$ 377,240
Tata Consultancy Services Ltd.	17,714		753,687
Tata Motors Ltd. (a)	28,657		250,366
Tata Power Co. Ltd. (a)	36,963		56,424
Tata Steel Ltd.	11,262		89,888
Tech Mahindra Ltd.	2,434		99,774
Ultratech Cemco Ltd. (a)	1,011		41,941
United Breweries Ltd.	2,406		27,366
United Spirits Ltd. (a)	2,483		111,698
Wipro Ltd.	22,998		212,436
Yes Bank Ltd.	6,298		71,317
TOTAL INDIA			10,960,414
Indonesia - 0.5%
PT Adaro Energy Tbk	507,200		47,696
PT Astra Agro Lestari Tbk	10,500		20,422
PT Astra International Tbk	746,600		418,627
PT Bank Central Asia Tbk	471,100		508,572
PT Bank Danamon Indonesia Tbk Series A	98,500		34,352
PT Bank Mandiri (Persero) Tbk	361,700		310,647
PT Bank Negara Indonesia (Persero) Tbk	305,700		150,669
PT Bank Rakyat Indonesia Tbk	423,900		388,460
PT Bumi Serpong Damai Tbk	223,500		29,701
PT Charoen Pokphand Indonesia Tbk	291,100		101,237
PT Global Mediacom Tbk	189,400		30,740
PT Gudang Garam Tbk	16,500		78,960
PT Indo Tambangraya Megah Tbk	17,400		30,530
PT Indocement Tunggal Prakarsa Tbk	58,700		116,343
PT Indofood CBP Sukses Makmur Tbk	33,500		30,635
PT Indofood Sukses Makmur Tbk	148,800		84,048
PT Jasa Marga Tbk	71,500		37,591
PT Kalbe Farma Tbk	752,100		106,191
PT Lippo Karawaci Tbk	694,800		61,540
PT Matahari Department Store Tbk	79,900		96,741
PT Media Nusantara Citra Tbk	207,100		48,012
PT Perusahaan Gas Negara Tbk Series B	422,300		208,021
PT Semen Gresik (Persero) Tbk	108,500		142,520
PT Surya Citra Media Tbk	148,500		41,568
PT Tambang Batubara Bukit Asam Tbk	40,200		43,129
PT Telkomunikasi Indonesia Tbk Series B	1,927,500		438,983
PT Tower Bersama Infrastructure Tbk	73,600		54,213
PT Unilever Indonesia Tbk	55,600		139,988
Common Stocks - continued
	Shares		Value
Indonesia - continued
PT United Tractors Tbk	59,800		$ 90,836
PT XL Axiata Tbk	112,800		51,583
TOTAL INDONESIA			3,942,555
Ireland - 0.2%
Bank of Ireland (a)	1,041,762		410,095
CRH PLC	27,653		613,439
CRH PLC sponsored ADR	800		17,928
James Hardie Industries PLC CDI	16,178		172,565
Kerry Group PLC Class A	5,932		402,831
Ryanair Holdings PLC (a)	827		7,882
Ryanair Holdings PLC sponsored ADR (a)	570		31,658
TOTAL IRELAND			1,656,398
Isle of Man - 0.0%
Genting Singapore PLC	222,000		190,136
Israel - 0.4%
Bank Hapoalim BM (Reg.)	40,931		208,293
Bank Leumi le-Israel BM (a)	49,803		176,387
Bezeq The Israel Telecommunication Corp. Ltd.	70,492		119,173
Delek Group Ltd.	165		56,441
Israel Chemicals Ltd.	16,256		109,202
Israel Corp. Ltd. (Class A) (a)	96		46,984
Mizrahi Tefahot Bank Ltd. (a)	4,893		53,842
NICE Systems Ltd.	1,282		51,975
NICE Systems Ltd. sponsored ADR	773		31,446
Teva Pharmaceutical Industries Ltd.	22,250		1,255,954
Teva Pharmaceutical Industries Ltd. sponsored ADR	9,942		561,425
TOTAL ISRAEL			2,671,122
Italy - 1.4%
Assicurazioni Generali SpA	43,914		899,204
Atlantia SpA	15,673		369,244
Banca Monte dei Paschi di Siena SpA (a)	165,979		126,462
Banco Popolare Societa Cooperativa (a)	14,091		203,775
Enel Green Power SpA	64,283		157,729
Enel SpA	247,492		1,262,289
Eni SpA	95,538		2,035,428
EXOR SpA	3,698		161,037
Finmeccanica SpA (a)	15,092		135,981
Intesa Sanpaolo SpA	434,758		1,278,084
Intesa Sanpaolo SpA (Risparmio Shares)	37,277		95,016
Common Stocks - continued
	Shares		Value
Italy - continued
Luxottica Group SpA	6,148		$ 313,595
Mediobanca SpA	22,890		201,366
Pirelli & C. SpA	8,879		118,833
Prysmian SpA	7,390		127,799
Saipem SpA (a)	10,427		163,332
Snam Rete Gas SpA	77,691		419,615
Telecom Italia SpA (a)	374,592		424,518
Terna SpA	54,828		276,068
UniCredit SpA	165,948		1,197,837
Unione di Banche Italiane ScpA	30,989		242,517
Unipolsai SpA	36,088		96,779
TOTAL ITALY			10,306,508
Japan - 14.1%
ABC-MART, Inc.	1,100		63,427
ACOM Co. Ltd. (a)	14,900		49,665
Advantest Corp.	5,800		67,632
AEON Co. Ltd.	24,600		243,413
AEON Financial Service Co. Ltd.	3,900		81,504
AEON Mall Co. Ltd.	4,070		74,708
Air Water, Inc.	5,000		79,702
Aisin Seiki Co. Ltd.	7,300		243,154
Ajinomoto Co., Inc.	22,000		415,374
Alfresa Holdings Corp.	6,800		86,291
All Nippon Airways Ltd.	48,000		111,296
Amada Co. Ltd.	14,200		124,016
Aozora Bank Ltd.	42,000		147,626
Asahi Glass Co. Ltd.	38,000		197,778
Asahi Group Holdings	14,800		459,079
Asahi Kasei Corp.	48,000		393,898
Asics Corp.	6,400		149,868
Astellas Pharma, Inc.	80,700		1,252,504
Bandai Namco Holdings, Inc.	6,600		163,797
Bank of Kyoto Ltd.	13,000		112,652
Bank of Yokohama Ltd.	45,000		260,066
Benesse Holdings, Inc.	2,000		63,109
Bridgestone Corp.	24,500		818,735
Brother Industries Ltd.	9,000		160,241
Calbee, Inc.	2,700		94,566
Canon, Inc.	42,500		1,303,908
Casio Computer Co. Ltd. (d)	7,900		125,970
Central Japan Railway Co.	5,400		805,405
Common Stocks - continued
	Shares		Value
Japan - continued
Chiba Bank Ltd.	28,000		$ 198,884
Chiyoda Corp.	6,000		61,811
Chubu Electric Power Co., Inc. (a)	24,700		296,390
Chugai Pharmaceutical Co. Ltd.	8,100		253,228
Chugoku Electric Power Co., Inc.	11,300		149,022
Citizen Holdings Co. Ltd.	9,400		61,752
Credit Saison Co. Ltd.	5,300		111,885
Dai Nippon Printing Co. Ltd.	21,000		206,993
Dai-ichi Mutual Life Insurance Co.	40,100		606,862
Daicel Chemical Industries Ltd.	10,000		115,275
Daido Steel Co. Ltd.	11,000		42,199
Daihatsu Motor Co. Ltd.	7,600		107,866
Daiichi Sankyo Kabushiki Kaisha	23,500		353,483
Daikin Industries Ltd.	8,800		550,071
Dainippon Sumitomo Pharma Co. Ltd.	5,400		63,698
Daito Trust Construction Co. Ltd.	2,700		336,422
Daiwa House Industry Co. Ltd.	22,600		427,583
Daiwa Securities Group, Inc.	63,000		497,887
DeNA Co. Ltd. (d)	4,400		56,858
DENSO Corp.	18,300		838,755
Dentsu, Inc.	7,900		293,718
Don Quijote Holdings Co. Ltd.	2,300		137,807
East Japan Railway Co.	12,700		991,911
Eisai Co. Ltd.	9,600		375,448
Electric Power Development Co. Ltd.	4,300		150,376
FamilyMart Co. Ltd.	2,000		80,306
Fanuc Corp.	7,200		1,268,898
Fast Retailing Co. Ltd.	2,000		743,515
Fuji Electric Co. Ltd.	20,000		87,869
Fuji Heavy Industries Ltd.	22,100		735,558
Fujifilm Holdings Corp.	17,400		584,093
Fujitsu Ltd.	71,000		431,642
Fukuoka Financial Group, Inc.	27,000		138,160
GREE, Inc. (d)	2,900		20,769
GungHo Online Entertainment, Inc. (d)	16,900		68,117
Gunma Bank Ltd.	14,000		87,367
Hakuhodo DY Holdings, Inc.	8,500		84,061
Hamamatsu Photonics K.K.	2,700		122,662
Hankyu Hanshin Holdings, Inc.	42,000		246,942
Hikari Tsushin, Inc.	500		33,168
Hino Motors Ltd.	9,900		144,868
Hirose Electric Co. Ltd.	1,100		134,871
Common Stocks - continued
	Shares		Value
Japan - continued
Hiroshima Bank Ltd.	18,000		$ 89,989
Hisamitsu Pharmaceutical Co., Inc.	2,100		70,689
Hitachi Chemical Co. Ltd.	4,200		74,027
Hitachi Construction Machinery Co. Ltd.	3,900		79,772
Hitachi High-Technologies Corp.	2,000		61,099
Hitachi Ltd.	182,000		1,430,060
Hitachi Metals Ltd.	8,000		135,062
Hokuhoku Financial Group, Inc.	50,000		100,444
Hokuriku Electric Power Co., Inc.	6,000		81,002
Honda Motor Co. Ltd.	61,300		1,959,715
Hoya Corp.	16,500		583,883
Hulic Co. Ltd.	8,800		97,359
Ibiden Co. Ltd.	4,200		63,134
Idemitsu Kosan Co. Ltd.	3,400		65,755
Iida Group Holdings Co. Ltd.	6,800		75,563
INPEX Corp.	32,300		413,131
Isetan Mitsukoshi Holdings Ltd.	12,700		172,899
Ishikawajima-Harima Heavy Industries Co. Ltd.	53,000		255,493
Isuzu Motors Ltd.	22,500		293,566
Itochu Corp.	56,900		687,838
ITOCHU Techno-Solutions Corp.	700		27,831
Iyo Bank Ltd.	9,600		102,513
J. Front Retailing Co. Ltd.	8,500		113,134
Japan Airlines Co. Ltd.	4,800		128,890
Japan Display, Inc.	13,200		39,183
Japan Exchange Group, Inc.	9,400		233,177
Japan Prime Realty Investment Corp.	27		99,432
Japan Real Estate Investment Corp.	48		261,564
Japan Retail Fund Investment Corp.	85		171,143
Japan Tobacco, Inc.	41,400		1,412,529
JFE Holdings, Inc.	18,800		372,991
JGC Corp.	8,000		205,598
Joyo Bank Ltd.	27,000		144,576
JSR Corp.	6,100		109,850
JTEKT Corp.	7,300		117,407
JX Holdings, Inc.	84,500		361,969
Kajima Corp.	31,000		137,936
Kakaku.com, Inc.	5,000		68,077
Kamigumi Co. Ltd.	9,000		86,777
Kaneka Corp.	11,000		60,438
Kansai Electric Power Co., Inc. (a)	26,900		265,651
Kansai Paint Co. Ltd.	9,000		137,579
Common Stocks - continued
	Shares		Value
Japan - continued
Kao Corp.	19,400		$ 756,486
Kawasaki Heavy Industries Ltd.	54,000		212,106
KDDI Corp.	21,900		1,438,161
Keihin Electric Express Railway Co. Ltd.	18,000		149,758
Keio Corp.	23,000		174,702
Keisei Electric Railway Co.	11,000		129,289
Keyence Corp.	1,710		828,636
Kikkoman Corp.	6,000		138,007
Kintetsu Corp.	71,000		246,980
Kirin Holdings Co. Ltd.	30,900		400,612
Kobe Steel Ltd.	112,000		177,951
Koito Manufacturing Co. Ltd.	3,800		114,503
Komatsu Ltd.	35,200		831,049
Konami Corp.	3,500		70,274
Konica Minolta, Inc.	18,300		204,480
Kubota Corp.	42,000		668,557
Kuraray Co. Ltd.	12,800		148,673
Kurita Water Industries Ltd.	3,600		77,686
Kyocera Corp.	12,000		553,098
Kyowa Hakko Kirin Co., Ltd.	8,000		93,307
Kyushu Electric Power Co., Inc. (a)	15,200		164,915
Lawson, Inc.	2,300		156,026
LIXIL Group Corp.	9,700		212,725
M3, Inc.	7,300		121,826
Mabuchi Motor Co. Ltd.	900		77,737
Makita Corp.	4,600		257,596
Marubeni Corp.	63,400		407,627
Marui Group Co. Ltd.	8,700		73,526
Maruichi Steel Tube Ltd.	1,500		35,423
Mazda Motor Corp.	20,300		479,624
McDonald's Holdings Co. (Japan) Ltd.	2,500		61,019
Medipal Holdings Corp.	5,100		56,529
Meiji Holdings Co. Ltd.	2,200		184,586
Miraca Holdings, Inc.	1,900		79,761
Mitsubishi Chemical Holdings Corp.	50,500		248,757
Mitsubishi Corp.	53,000		1,039,243
Mitsubishi Electric Corp.	73,000		941,247
Mitsubishi Estate Co. Ltd.	47,000		1,197,314
Mitsubishi Gas Chemical Co., Inc.	13,000		77,781
Mitsubishi Heavy Industries Ltd.	114,000		711,136
Mitsubishi Logistics Corp.	4,000		60,926
Mitsubishi Materials Corp.	43,000		134,586
Common Stocks - continued
	Shares		Value
Japan - continued
Mitsubishi Motors Corp. of Japan	24,600		$ 253,114
Mitsubishi Tanabe Pharma Corp.	8,700		132,303
Mitsubishi UFJ Financial Group, Inc.	479,100		2,792,777
Mitsubishi UFJ Lease & Finance Co. Ltd.	18,700		98,728
Mitsui & Co. Ltd.	64,400		972,380
Mitsui Chemicals, Inc.	33,000		95,591
Mitsui Fudosan Co. Ltd.	35,000		1,125,825
Mitsui OSK Lines Ltd.	39,000		123,215
Mizuho Financial Group, Inc.	866,400		1,578,855
MS&AD Insurance Group Holdings, Inc.	19,100		412,880
Murata Manufacturing Co. Ltd.	7,600		853,940
Nabtesco Corp.	4,700		113,742
Nagoya Railroad Co. Ltd.	31,000		132,553
NEC Corp.	100,000		353,638
New Hampshire Foods Ltd.	6,000		138,358
Nexon Co. Ltd.	5,000		44,061
NGK Insulators Ltd.	10,000		215,380
NGK Spark Plug Co. Ltd.	6,700		174,739
NHK Spring Co. Ltd.	6,300		57,660
Nidec Corp.	7,700		508,759
Nikon Corp.	12,900		176,751
Nintendo Co. Ltd.	3,900		420,334
Nippon Building Fund, Inc.	55		308,256
Nippon Electric Glass Co. Ltd.	14,000		65,101
Nippon Express Co. Ltd.	34,000		149,565
Nippon Paint Holdings Co. Ltd.	6,000		136,244
Nippon Prologis REIT, Inc.	56		129,947
Nippon Steel & Sumitomo Metal Corp.	286,700		756,557
Nippon Telegraph & Telephone Corp.	14,100		877,286
Nippon Yusen KK	64,000		165,924
Nissan Motor Co. Ltd.	93,400		851,967
Nisshin Seifun Group, Inc.	7,095		71,745
Nissin Food Holdings Co. Ltd.	2,400		126,492
Nitori Holdings Co. Ltd.	2,700		171,114
Nitto Denko Corp.	5,700		308,279
NKSJ Holdings, Inc.	12,750		321,053
NOK Corp.	3,600		91,204
Nomura Holdings, Inc.	136,800		854,506
Nomura Real Estate Holdings, Inc.	4,800		84,835
Nomura Research Institute Ltd.	4,100		135,234
NSK Ltd.	17,000		222,667
NTT Data Corp.	5,000		195,457
Common Stocks - continued
	Shares		Value
Japan - continued
NTT DOCOMO, Inc.	57,300		$ 966,415
NTT Urban Development Co.	4,500		50,931
Obayashi Corp.	25,000		171,566
Odakyu Electric Railway Co. Ltd.	23,000		215,862
Oji Holdings Corp.	31,000		112,082
Olympus Corp. (a)	9,000		323,146
OMRON Corp.	7,800		369,210
Ono Pharmaceutical Co. Ltd.	3,100		312,928
Oracle Corp. Japan	1,300		50,327
Oriental Land Co. Ltd.	1,900		406,294
ORIX Corp.	49,900		692,624
Osaka Gas Co. Ltd.	72,000		287,196
Otsuka Corp.	1,900		70,648
Otsuka Holdings Co. Ltd.	14,700		515,647
Panasonic Corp.	83,000		998,594
Park24 Co. Ltd.	3,700		55,987
Rakuten, Inc.	30,300		341,677
Recruit Holdings Co. Ltd. (a)	5,000		170,893
Resona Holdings, Inc.	81,000		463,303
Ricoh Co. Ltd.	26,100		269,544
Rinnai Corp.	1,300		115,475
ROHM Co. Ltd.	3,600		219,135
Sankyo Co. Ltd. (Gunma)	2,000		72,782
Sanrio Co. Ltd. (d)	2,100		60,716
Santen Pharmaceutical Co. Ltd.	2,700		161,154
SBI Holdings, Inc. Japan	7,230		83,373
Secom Co. Ltd.	8,000		493,001
Sega Sammy Holdings, Inc.	7,000		111,199
Seibu Holdings, Inc.	4,500		86,521
Seiko Epson Corp.	5,000		232,024
Sekisui Chemical Co. Ltd.	16,000		199,414
Sekisui House Ltd.	21,100		262,376
Seven & i Holdings Co., Ltd.	28,400		1,109,194
Seven Bank Ltd.	22,400		93,551
Sharp Corp. (a)(d)	57,000		143,552
Shikoku Electric Power Co., Inc. (a)	6,500		89,198
Shimadzu Corp.	9,000		78,312
Shimamura Co. Ltd.	800		70,362
SHIMANO, Inc.	2,900		384,556
SHIMIZU Corp.	22,000		162,354
Shin-Etsu Chemical Co., Ltd.	15,400		988,505
Shinsei Bank Ltd.	65,000		146,079
Common Stocks - continued
	Shares		Value
Japan - continued
Shionogi & Co. Ltd.	11,300		$ 295,628
Shiseido Co. Ltd.	13,200		219,043
Shizuoka Bank Ltd.	20,000		206,655
Showa Shell Sekiyu K.K.	6,700		57,488
SMC Corp.	2,100		595,630
SoftBank Corp.	36,100		2,628,059
Sony Corp.	39,300		775,912
Sony Financial Holdings, Inc.	7,000		111,753
Stanley Electric Co. Ltd.	5,700		115,885
Sumitomo Chemical Co. Ltd.	58,000		198,965
Sumitomo Corp.	42,900		457,731
Sumitomo Electric Industries Ltd.	28,400		388,188
Sumitomo Heavy Industries Ltd.	20,000		109,649
Sumitomo Metal Mining Co. Ltd.	20,000		277,450
Sumitomo Mitsui Financial Group, Inc.	47,800		1,949,423
Sumitomo Mitsui Trust Holdings, Inc.	126,000		514,423
Sumitomo Realty & Development Co. Ltd.	14,000		524,846
Sumitomo Rubber Industries Ltd.	5,900		81,544
Suntory Beverage & Food Ltd.	5,300		189,075
Suzuken Co. Ltd.	2,700		72,389
Suzuki Motor Corp.	13,700		459,204
Sysmex Corp.	5,500		234,796
T&D Holdings, Inc.	21,300		274,376
Taiheiyo Cement Corp.	44,000		161,434
Taisei Corp.	38,000		211,316
Taisho Pharmaceutical Holdings Co. Ltd.	1,100		77,208
Taiyo Nippon Sanso Corp. (d)	8,000		72,025
Takashimaya Co. Ltd.	9,000		76,667
Takeda Pharmaceutical Co. Ltd.	29,700		1,287,446
TDK Corp.	4,600		261,106
Teijin Ltd.	37,000		90,458
Terumo Corp.	11,600		289,984
The Chugoku Bank Ltd.	5,700		84,249
The Hachijuni Bank Ltd.	17,000		104,088
The Suruga Bank Ltd.	7,100		148,435
THK Co. Ltd.	4,100		103,127
Tobu Railway Co. Ltd.	37,000		187,170
Toho Co. Ltd.	3,900		89,457
Toho Gas Co. Ltd.	15,000		81,126
Tohoku Electric Power Co., Inc.	16,300		203,721
Tokio Marine Holdings, Inc.	26,100		836,978
Tokyo Electric Power Co., Inc. (a)	54,400		196,151
Common Stocks - continued
	Shares		Value
Japan - continued
Tokyo Electron Ltd.	6,300		$ 403,923
Tokyo Gas Co. Ltd.	91,000		524,553
Tokyo Tatemono Co. Ltd.	15,000		130,940
Tokyu Corp.	44,000		290,525
Tokyu Fudosan Holdings Corp.	16,700		118,692
TonenGeneral Sekiyu K.K.	11,000		96,008
Toppan Printing Co. Ltd.	21,000		142,889
Toray Industries, Inc.	56,000		375,952
Toshiba Corp.	152,000		671,250
Toto Ltd.	10,000		112,839
Toyo Seikan Group Holdings Ltd.	5,900		71,547
Toyo Suisan Kaisha Ltd.	3,000		103,609
Toyoda Gosei Co. Ltd.	2,500		48,029
Toyota Industries Corp.	6,000		285,698
Toyota Motor Corp.	103,600		6,234,359
Toyota Tsusho Corp.	8,200		206,764
Trend Micro, Inc.	3,900		131,413
Unicharm Corp.	14,400		334,850
United Urban Investment Corp.	94		148,351
USS Co. Ltd.	8,500		133,773
West Japan Railway Co.	6,300		300,292
Yahoo! Japan Corp.	51,400		185,174
Yakult Honsha Co. Ltd.	3,300		182,752
Yamada Denki Co. Ltd. (d)	32,200		103,221
Yamaguchi Financial Group, Inc.	7,000		66,856
Yamaha Corp.	5,900		80,871
Yamaha Motor Co. Ltd.	9,800		185,394
Yamato Holdings Co. Ltd.	13,200		282,245
Yamato Kogyo Co. Ltd.	1,400		45,353
Yamazaki Baking Co. Ltd.	4,000		49,451
Yaskawa Electric Corp.	9,100		117,956
Yokogawa Electric Corp.	8,100		112,695
Yokohama Rubber Co. Ltd.	7,000		63,543
TOTAL JAPAN			102,740,132
Korea (South) - 2.8%
AMOREPACIFIC Corp.	125		267,580
AMOREPACIFIC Group, Inc.	106		116,710
BS Financial Group, Inc.	7,342		113,774
Celltrion, Inc. (a)	2,173		84,841
Cheil Worldwide, Inc. (a)	3,326		51,696
CJ CheilJedang Corp.	265		96,436
Common Stocks - continued
	Shares		Value
Korea (South) - continued
CJ Corp.	507		$ 82,106
Coway Co. Ltd.	1,950		148,095
Daelim Industrial Co.	1,023		67,505
Daewoo Engineering & Construction Co. Ltd. (a)	3,400		20,727
Daewoo International Corp.	1,866		58,788
Daewoo Securities Co. Ltd. (a)	7,185		74,896
Daewoo Shipbuilding & Marine Engineering Co. Ltd.	3,514		59,851
DGB Financial Group Co. Ltd.	5,366		76,162
Dongbu Insurance Co. Ltd.	1,419		79,109
Doosan Co. Ltd.	194		20,042
Doosan Heavy Industries & Construction Co. Ltd.	2,175		47,470
Doosan Infracore Co. Ltd. (a)	5,236		52,631
E-Mart Co. Ltd.	735		135,447
GS Engineering & Construction Corp. (a)	1,953		51,077
GS Holdings Corp.	1,896		73,144
Halla Visteon Climate Control Corp.	1,490		66,218
Hana Financial Group, Inc.	10,851		374,174
Hankook Tire Co. Ltd.	2,889		147,886
Hanwha Chemical Corp.	3,824		43,242
Hanwha Corp.	1,918		48,912
Hanwha Life Insurance Co. Ltd.	8,754		66,891
Hite Jinro Co. Ltd.	830		20,432
Hotel Shilla Co.	1,255		117,389
Hyosung Corp.	915		54,077
Hyundai Department Store Co. Ltd.	568		71,631
Hyundai Engineering & Construction Co. Ltd.	2,692		121,641
Hyundai Fire & Marine Insurance Co. Ltd.	2,491		65,495
Hyundai Glovis Co. Ltd.	508		125,765
Hyundai Heavy Industries Co. Ltd.	1,516		139,967
Hyundai Industrial Development & Construction Co.	1,930		72,480
Hyundai Merchant Marine Co. Ltd. (a)	1,916		20,507
Hyundai Mipo Dockyard Co. Ltd.	451		31,859
Hyundai Mobis	2,556		594,726
Hyundai Motor Co.	5,791		916,259
Hyundai Steel Co.	2,554		161,877
Hyundai Wia Corp.	599		102,858
Industrial Bank of Korea	9,306		135,548
Kangwon Land, Inc.	4,158		135,447
KB Financial Group, Inc.	14,476		564,437
KCC Corp.	190		104,687
Kia Motors Corp.	9,975		483,689
Korea Aerospace Industries Ltd.	1,799		69,151
Common Stocks - continued
	Shares		Value
Korea (South) - continued
Korea Electric Power Corp.	9,820		$ 428,764
Korea Gas Corp. (a)	1,041		48,541
Korea Investment Holdings Co. Ltd.	1,498		75,427
Korea Zinc Co. Ltd.	325		121,749
Korean Air Lines Co. Ltd. (a)	1,042		36,804
KT Corp.	2,367		72,538
KT&G Corp.	4,211		372,327
Kumho Petro Chemical Co. Ltd.	376		27,051
LG Chemical Ltd.	1,679		312,533
LG Corp.	3,631		214,931
LG Display Co. Ltd. (a)	8,874		259,853
LG Electronics, Inc.	4,051		246,202
LG Household & Health Care Ltd.	343		198,883
LG Innotek Co. Ltd. (a)	393		30,908
LG Telecom Ltd.	7,250		74,224
Lotte Chemical Corp.	612		82,591
Lotte Confectionery Co. Ltd.	29		51,876
Lotte Shopping Co. Ltd.	417		115,074
LS Cable Ltd.	646		36,014
LS Industrial Systems Ltd.	546		32,065
Mirae Asset Securities Co. Ltd.	960		41,056
NAVER Corp.	1,054		739,653
NCSOFT Corp.	536		73,333
Oci Co. Ltd. (a)	558		47,779
Orion Corp.	145		111,337
Paradise Co. Ltd.	1,778		54,360
POSCO	2,453		704,749
S-Oil Corp.	1,597		60,420
S1 Corp.	748		51,795
Samsung C&T Corp.	4,730		318,284
Samsung Card Co. Ltd.	1,384		59,253
Samsung Electro-Mechanics Co. Ltd.	1,990		90,198
Samsung Electronics Co. Ltd.	4,131		4,782,901
Samsung Engineering Co. Ltd. (a)	987		56,587
Samsung Fire & Marine Insurance Co. Ltd.	1,256		336,080
Samsung Heavy Industries Co. Ltd.	5,676		137,615
Samsung Life Insurance Co. Ltd.	2,257		244,722
Samsung SDI Co. Ltd.	2,686		314,987
Samsung Securities Co. Ltd.	2,174		96,717
Samsung Techwin Co. Ltd.	1,193		36,419
Shinhan Financial Group Co. Ltd.	15,979		748,055
Shinsegae Co. Ltd.	277		51,175
Common Stocks - continued
	Shares		Value
Korea (South) - continued
SK C&C Co. Ltd.	722		$ 162,954
SK Energy Co. Ltd.	2,241		182,501
SK Holdings Co. Ltd.	945		146,880
SK Hynix, Inc. (a)	21,396		944,897
SK Networks Co. Ltd. (a)	4,762		48,531
SK Telecom Co. Ltd.	350		87,243
Woori Finance Holdings Co. Ltd. (a)	11,339		125,585
Woori Investment & Securities Co. Ltd.	5,211		56,744
Yuhan Corp.	276		45,339
TOTAL KOREA (SOUTH)			20,431,836
Luxembourg - 0.3%
Altice SA	3,118		194,155
ArcelorMittal SA (Netherlands) (d)	37,553		493,303
Millicom International Cellular SA (depository receipt)	2,412		196,641
RTL Group SA	1,417		132,220
SES SA (France) (depositary receipt)	11,463		395,752
Subsea 7 SA	10,398		111,997
Tenaris SA	17,662		349,259
TOTAL LUXEMBOURG			1,873,327
Malaysia - 0.8%
AirAsia Bhd	47,900		36,397
Alliance Financial Group Bhd	39,900		58,131
AMMB Holdings Bhd	74,600		153,751
Astro Malaysia Holdings Bhd	62,500		62,703
Axiata Group Bhd	92,900		199,074
Berjaya Sports Toto Bhd	16,139		17,708
British American Tobacco (Malaysia) Bhd	4,500		95,111
Bumi Armada Bhd	59,900		28,594
Bumiputra-Commerce Holdings Bhd	191,685		378,365
Dialog Group Bhd	128,822		63,520
DiGi.com Bhd	111,400		209,624
Felda Global Ventures Holdings Bhd	46,100		51,268
Gamuda Bhd	58,100		90,499
Genting Bhd	77,100		228,489
Genting Malaysia Bhd	116,100		151,773
Genting Plantations Bhd	5,000		16,069
Hong Leong Bank Bhd	24,100		107,104
Hong Leong Credit Bhd	9,200		50,603
IHH Healthcare Bhd	89,300		134,335
IJM Corp. Bhd	46,100		96,888
IOI Corp. Bhd	108,800		161,692
Common Stocks - continued
	Shares		Value
Malaysia - continued
IOI Properties Group Sdn Bhd	62,133		$ 51,944
Kuala Lumpur Kepong Bhd	19,100		133,486
Lafarge Malaysia Bhd	15,400		49,037
Malayan Banking Bhd	176,138		519,432
Malaysia Airports Holdings Bhd	22,556		49,499
Maxis Bhd	76,500		156,719
MISC Bhd	38,800		80,918
MMC Corp. Bhd	17,700		14,205
Petronas Chemicals Group Bhd	108,700		203,055
Petronas Dagangan Bhd	9,300		57,732
Petronas Gas Bhd	24,900		170,677
PPB Group Bhd	17,700		85,095
Public Bank Bhd	102,500		577,644
RHB Capital Bhd	21,906		58,575
SapuraKencana Petroleum Bhd	140,400		145,492
Sime Darby Bhd	117,301		345,071
Telekom Malaysia Bhd	37,816		82,766
Tenaga Nasional Bhd	106,700		433,332
UEM Land Holdings Bhd	41,700		23,830
UMW Holdings Bhd	20,800		73,916
YTL Corp. Bhd	147,126		74,238
YTL Power International Bhd	80,850		39,071
TOTAL MALAYSIA			5,817,432
Malta - 0.0%
Brait SA	12,000		90,171
Mauritius - 0.0%
Golden Agri-Resources Ltd.	255,000		103,339
Mexico - 1.1%
Alfa SA de CV Series A	104,100		331,713
America Movil S.A.B. de CV Series L	1,277,300		1,558,417
CEMEX S.A.B. de CV unit	459,213		565,736
Coca-Cola FEMSA S.A.B. de CV Series L	16,800		177,241
Compartamos S.A.B. de CV	39,200		87,300
Controladora Commercial Mexicana S.A.B. de CV unit	16,300		63,862
El Puerto de Liverpool S.A.B. de CV Class C	6,700		78,606
Embotelladoras Arca S.A.B. de CV	15,000		96,597
Fibra Uno Administracion SA de CV	87,400		303,746
Fomento Economico Mexicano S.A.B. de CV unit	73,300		705,008
Genomma Lab Internacional SA de CV (a)	28,600		72,189
Gruma S.A.B. de CV Series B	5,800		63,869
Common Stocks - continued
	Shares		Value
Mexico - continued
Grupo Aeroportuario del Pacifico SA de CV Series B	11,100		$ 75,521
Grupo Aeroportuario del Sureste SA de CV Series B	8,200		109,620
Grupo Bimbo S.A.B. de CV Series A	59,600		174,335
Grupo Carso SA de CV Series A1	22,400		127,983
Grupo Comercial Chedraui S.A.B. de CV	9,800		34,473
Grupo Financiero Banorte S.A.B. de CV Series O	94,300		604,963
Grupo Financiero Inbursa S.A.B. de CV Series O	91,100		273,579
Grupo Financiero Santander Mexico S.A.B. de CV	65,300		173,988
Grupo Lala S.A.B. de CV	20,000		45,893
Grupo Mexico SA de CV Series B	144,524		496,584
Grupo Televisa SA de CV	97,400		703,906
Industrias Penoles SA de CV	5,595		125,567
Kimberly-Clark de Mexico SA de CV Series A	57,000		131,937
Mexichem S.A.B. de CV	33,821		138,361
Minera Frisco S.A.B. de CV (a)	25,300		45,015
OHL Mexico S.A.B. de CV (a)	24,700		69,517
Promotora y Operadora de Infraestructura S.A.B. de CV (a)	10,100		138,747
Wal-Mart de Mexico SA de CV Series V	199,600		461,416
TOTAL MEXICO			8,035,689
Netherlands - 2.1%
AEGON NV	69,796		568,869
Airbus Group NV	22,084		1,317,309
Akzo Nobel NV	9,013		598,729
ASML Holding NV (Netherlands)	13,437		1,339,835
CNH Industrial NV	36,166		294,589
Corio NV	2,685		130,584
Delta Lloyd NV	7,904		180,022
Fiat Chrysler Automobiles NV (a)(d)	31,091		346,954
Fugro NV (Certificaten Van Aandelen)	2,814		38,861
Gemalto NV (d)	2,880		220,189
Heineken Holding NV	3,809		246,729
Heineken NV (Bearer)	8,620		643,700
ING Groep NV (Certificaten Van Aandelen) (a)	144,747		2,072,829
Koninklijke Ahold NV	35,033		585,647
Koninklijke Boskalis Westminster NV	3,195		170,222
Koninklijke KPN NV	120,623		397,059
Koninklijke Philips Electronics NV	36,483		1,019,988
OCI NV (a)	3,445		119,972
QIAGEN NV (a)	9,002		211,460
Randstad Holding NV	4,485		197,669
Reed Elsevier NV	26,320		605,731
Common Stocks - continued
	Shares		Value
Netherlands - continued
Royal DSM NV	6,411		$ 401,416
STMicroelectronics NV	24,061		160,721
TNT Express NV	17,206		99,852
Unilever NV (Certificaten Van Aandelen) (Bearer)	61,227		2,373,064
Vopak NV	2,710		135,706
Wolters Kluwer NV	11,563		308,496
Ziggo NV (a)	5,814		284,037
TOTAL NETHERLANDS			15,070,239
New Zealand - 0.1%
Auckland International Airport Ltd.	35,664		107,586
Contact Energy Ltd.	14,926		72,136
Fletcher Building Ltd.	26,150		175,302
Ryman Healthcare Group Ltd.	15,632		92,485
Spark New Zealand Ltd.	69,162		170,092
Xero Ltd. (a)	1,900		23,475
TOTAL NEW ZEALAND			641,076
Norway - 0.5%
Aker Solutions ASA (a)	6,234		40,390
DNB ASA	36,598		672,280
Gjensidige Forsikring ASA (d)	7,532		136,794
Norsk Hydro ASA	48,716		272,581
Orkla ASA	31,457		240,418
Statoil ASA	41,786		956,291
Telenor ASA	28,433		639,062
Yara International ASA	6,837		313,927
TOTAL NORWAY			3,271,743
Peru - 0.0%
Compania de Minas Buenaventura SA sponsored ADR	7,183		66,084
Philippines - 0.3%
Aboitiz Equity Ventures, Inc.	67,570		78,171
Aboitiz Power Corp.	50,900		46,417
Alliance Global Group, Inc.	78,800		44,322
Ayala Corp.	8,240		126,394
Ayala Land, Inc.	271,500		202,465
Bank of the Philippine Islands (BPI)	26,341		55,705
BDO Unibank, Inc.	60,673		132,171
DMCI Holdings, Inc.	148,450		53,523
Globe Telecom, Inc.	1,340		50,213
International Container Terminal Services, Inc.	18,640		48,067
Common Stocks - continued
	Shares		Value
Philippines - continued
JG Summit Holdings, Inc.	88,730		$ 125,840
Jollibee Food Corp.	17,430		75,966
Megaworld Corp.	370,000		40,807
Metro Pacific Investments Corp.	429,900		48,553
Metropolitan Bank & Trust Co.	13,465		24,706
Philippine Long Distance Telephone Co.	3,695		257,849
PNOC Energy Development Corp.	322,500		55,214
SM Investments Corp.	6,112		106,506
SM Prime Holdings, Inc.	256,900		99,864
Universal Robina Corp.	33,640		139,065
TOTAL PHILIPPINES			1,811,818
Poland - 0.3%
Alior Bank SA (a)	1,812		40,227
Bank Handlowy w Warszawie SA	1,424		48,096
Bank Millennium SA	14,420		35,737
Bank Polska Kasa Opieki SA	4,927		257,515
Bank Zachodni WBK SA	1,127		127,608
BRE Bank SA	523		77,395
Cyfrowy Polsat SA	7,044		53,876
ENEA SA	7,190		34,144
Energa SA	8,895		66,080
Eurocash SA	2,385		23,494
Getin Noble Bank SA (a)	50,626		39,067
Grupa Lotos SA (a)	2,043		15,790
Jastrzebska Spolka Weglowa SA (a)	1,239		10,646
KGHM Polska Miedz SA (Bearer)	5,207		200,751
LPP SA	35		104,388
Polish Oil & Gas Co. SA	62,500		93,306
Polska Grupa Energetyczna SA	31,746		208,229
Polski Koncern Naftowy Orlen SA	12,234		152,249
Powszechna Kasa Oszczednosci Bank SA	33,009		366,897
Powszechny Zaklad Ubezpieczen SA	2,140		320,749
Synthos SA	26,883		33,351
Tauron Polska Energia SA	35,470		55,374
Telekomunikacja Polska SA	23,433		70,244
Zaklady Azotowe w Tarnowie-Moscicach SA	1,912		35,598
TOTAL POLAND			2,470,811
Portugal - 0.1%
Banco Comercial Portugues SA (Reg.) (a)	1,249,144		140,883
Banco Espirito Santo SA (Reg.) (a)	82,039		1
Common Stocks - continued
	Shares		Value
Portugal - continued
Energias de Portugal SA	88,766		$ 381,655
Galp Energia SGPS SA Class B	13,904		201,506
Jeronimo Martins SGPS SA	9,011		78,808
TOTAL PORTUGAL			802,853
Qatar - 0.1%
Barwa Real Estate Co. (a)	3,100		36,563
Commercial Bank of Qatar (a)	1,300		26,382
Doha Bank (a)	1,000		15,927
Industries Qatar QSC (a)	2,991		154,743
Masraf al Rayan (a)	13,247		185,525
Qatar Electricity & Water Co.	1,000		50,034
Qatar Islamic Bank (a)	2,372		72,954
Qatar National Bank SAQ (a)	3,563		209,677
Qatar Telecom (Qtel) Q.S.C. (a)	3,241		109,916
Vodafone Qatar QSC (a)	13,379		76,051
TOTAL QATAR			937,772
Russia - 0.9%
Alrosa Co. Ltd. (a)	75,000		67,135
Federal Grid Co. of Unified Energy System (a)	3,696,897		4,608
Gazprom OAO sponsored ADR (Reg. S)	221,613		1,468,851
LUKOIL Oil Co. sponsored ADR (United Kingdom)	19,098		937,712
Magnit OJSC GDR (Reg. S)	9,787		655,729
Megafon OJSC GDR	3,269		76,495
Mobile TeleSystems OJSC sponsored ADR	19,491		278,721
Moscow Exchange MICEX-RTS OAO	49,675		66,988
Norilsk Nickel OJSC ADR	20,846		387,944
NOVATEK OAO GDR (Reg. S)	3,424		367,738
Rosneft Oil Co. OJSC GDR (Reg. S)	43,718		243,509
Rostelecom sponsored ADR	5,080		75,336
RusHydro JSC sponsored ADR	38,511		64,159
Sberbank (Savings Bank of the Russian Federation) (a)	1,860		3,297
Sberbank (Savings Bank of the Russian Federation) sponsored ADR	103,288		783,956
Severstal GDR (Reg. S)	8,141		86,050
Sistema JSFC sponsored GDR	5,971		48,216
Surgutneftegas sponsored ADR	46,841		308,214
Tatneft OAO sponsored ADR	9,067		323,057
Uralkali OJSC GDR (Reg. S)	9,767		174,536
VTB Bank OJSC sponsored GDR (Reg. S)	92,520		174,770
TOTAL RUSSIA			6,597,021
Common Stocks - continued
	Shares		Value
Singapore - 0.9%
Ascendas Real Estate Investment Trust	75,000		$ 130,273
CapitaCommercial Trust (REIT)	75,000		97,521
CapitaLand Ltd.	98,000		241,954
CapitaMall Trust	93,000		142,643
City Developments Ltd.	16,000		117,759
ComfortDelgro Corp. Ltd.	77,000		158,312
DBS Group Holdings Ltd.	64,991		934,923
Global Logistic Properties Ltd.	119,000		255,013
Hutchison Port Holdings Trust	196,000		132,341
Jardine Cycle & Carriage Ltd.	4,000		124,338
Keppel Corp. Ltd.	55,000		403,327
Keppel Land Ltd.	26,000		67,655
Olam International Ltd.	38,000		63,066
Oversea-Chinese Banking Corp. Ltd.	111,854		861,624
SembCorp Industries Ltd.	38,000		143,757
SembCorp Marine Ltd.	27,000		76,492
Singapore Airlines Ltd.	21,000		161,839
Singapore Exchange Ltd.	28,000		152,592
Singapore Press Holdings Ltd.	61,000		203,321
Singapore Technologies Engineering Ltd.	61,000		178,092
Singapore Telecommunications Ltd.	299,000		880,040
StarHub Ltd.	22,000		70,715
United Overseas Bank Ltd.	47,947		859,003
UOL Group Ltd.	16,385		82,298
Wilmar International Ltd.	73,000		181,966
Yangzijiang Shipbuilding Holdings Ltd.	77,000		67,780
TOTAL SINGAPORE			6,788,644
South Africa - 1.6%
African Bank Investments Ltd. (a)	42,096		0
African Rainbow Minerals Ltd.	3,892		47,954
Anglo American Platinum Ltd. (a)	1,879		59,278
AngloGold Ashanti Ltd. (a)	14,574		121,794
Aspen Pharmacare Holdings Ltd.	12,190		434,827
Assore Ltd.	947		17,574
Barclays Africa Group Ltd.	12,428		196,238
Barloworld Ltd.	7,406		64,305
Bidvest Group Ltd.	12,234		336,493
Coronation Fund Managers Ltd.	9,629		83,372
Discovery Holdings Ltd.	11,025		100,287
Exxaro Resources Ltd.	6,109		63,695
FirstRand Ltd.	117,926		504,645
Common Stocks - continued
	Shares		Value
South Africa - continued
Foschini Ltd.	7,194		$ 81,295
Gold Fields Ltd.	29,518		95,716
Growthpoint Properties Ltd.	82,248		199,473
Harmony Gold Mining Co. Ltd. (a)	16,218		26,198
Impala Platinum Holdings Ltd. (a)	19,863		144,591
Imperial Holdings Ltd.	7,429		127,939
Investec Ltd.	9,224		84,214
Kumba Iron Ore Ltd.	2,127		53,118
Liberty Holdings Ltd.	4,929		57,040
Life Healthcare Group Holdings Ltd.	35,287		133,409
Massmart Holdings Ltd.	4,285		46,281
Mediclinic International Ltd.	14,877		132,857
MMI Holdings Ltd.	41,530		106,143
Mr Price Group Ltd.	8,587		177,622
MTN Group Ltd.	63,385		1,402,202
Nampak Ltd.	19,680		80,238
Naspers Ltd. Class N	14,898		1,854,039
Nedbank Group Ltd.	7,433		161,899
Netcare Ltd.	37,924		114,669
Northam Platinum Ltd. (a)	14,320		44,103
Pick 'n Pay Stores Ltd.	8,814		42,617
Pretoria Portland Cement Co. Ltd.	18,687		50,149
Rand Merchant Insurance Holdings Ltd.	27,107		96,634
Redefine Properties Ltd.	121,336		109,898
Remgro Ltd.	18,469		423,608
RMB Holdings Ltd.	26,254		145,698
Sanlam Ltd.	69,613		439,588
Sappi Ltd. (a)	20,205		79,814
Sasol Ltd.	20,799		1,038,603
Shoprite Holdings Ltd.	16,534		239,516
Spar Group Ltd.	5,603		65,526
Standard Bank Group Ltd.	45,913		577,568
Steinhoff International Holdings Ltd.	77,833		397,995
Tiger Brands Ltd.	5,964		179,308
Truworths International Ltd.	15,047		102,999
Vodacom Group Ltd.	13,651		165,635
Woolworths Holdings Ltd.	35,953		255,523
TOTAL SOUTH AFRICA			11,564,187
Spain - 2.3%
Abertis Infraestructuras SA	14,829		308,570
ACS Actividades de Construccion y Servicios SA	6,554		242,698
Common Stocks - continued
	Shares		Value
Spain - continued
Amadeus IT Holding SA Class A	14,353		$ 527,003
Banco Bilbao Vizcaya Argentaria SA	223,047		2,494,756
Banco de Sabadell SA	128,580		370,599
Banco Popular Espanol SA	67,264		384,877
Banco Santander SA:
rights 11/3/14 (a)	451,444		85,991
(Spain)	451,444		3,988,747
Bankia SA (a)	167,759		299,994
Criteria CaixaCorp SA	67,858		369,993
Distribuidora Internacional de Alimentacion SA	22,188		140,804
Enagas SA	7,764		260,263
Ferrovial SA	15,863		323,626
Gas Natural SDG SA	12,866		370,991
Grifols SA	5,559		226,717
Iberdrola SA	191,121		1,351,038
Inditex SA	40,994		1,151,495
International Consolidated Airlines Group SA (a)	34,787		227,165
International Consolidated Airlines Group SA CDI (a)	3,400		22,256
MAPFRE SA (Reg.)	33,382		114,245
Red Electrica Corporacion SA	4,153		362,430
Repsol YPF SA	38,191		852,609
Telefonica SA	153,986		2,317,132
Zardoya Otis SA	7,238		84,263
TOTAL SPAIN			16,878,262
Sweden - 2.0%
Alfa Laval AB	11,625		238,981
ASSA ABLOY AB (B Shares)	12,522		663,225
Atlas Copco AB:
(A Shares)	25,518		736,427
(B Shares)	14,353		379,033
Boliden AB	10,086		166,230
Electrolux AB (B Shares)	8,904		252,621
Elekta AB (B Shares) (d)	12,885		131,919
Getinge AB (B Shares)	7,511		174,446
H&M Hennes & Mauritz AB (B Shares)	35,613		1,416,485
Hexagon AB (B Shares)	9,659		325,056
Husqvarna AB (B Shares)	15,601		115,991
Industrivarden AB (C Shares)	5,647		98,729
Investment AB Kinnevik (B Shares)	9,066		287,174
Investor AB (B Shares)	17,098		611,755
Lundin Petroleum AB (a)	7,886		111,816
Common Stocks - continued
	Shares		Value
Sweden - continued
Nordea Bank AB	113,938		$ 1,461,228
Sandvik AB	40,506		443,780
Securitas AB (B Shares)	11,450		126,375
Skandinaviska Enskilda Banken AB (A Shares)	56,690		726,268
Skanska AB (B Shares)	14,684		298,685
SKF AB (B Shares)	15,193		304,101
Svenska Cellulosa AB (SCA) (B Shares)	22,056		493,144
Svenska Handelsbanken AB (A Shares)	18,694		891,390
Swedbank AB (A Shares)	33,902		896,658
Swedish Match Co. AB	7,873		255,462
Tele2 AB (B Shares) (d)	12,141		154,061
Telefonaktiebolaget LM Ericsson (B Shares)	114,314		1,350,780
TeliaSonera AB	89,293		617,323
Volvo AB (B Shares)	57,814		665,114
TOTAL SWEDEN			14,394,257
Switzerland - 6.1%
ABB Ltd. (Reg.)	82,639		1,812,990
Actelion Ltd.	3,901		463,830
Adecco SA (Reg.)	6,434		434,996
Aryzta AG	3,260		277,328
Baloise Holdings AG	1,813		227,814
Barry Callebaut AG	78		81,636
Coca-Cola HBC AG	7,720		167,832
Compagnie Financiere Richemont SA Series A	19,588		1,648,026
Credit Suisse Group AG	57,061		1,520,322
Ems-Chemie Holding AG	314		112,836
Geberit AG (Reg.)	1,416		482,425
Givaudan SA	348		579,789
Holcim Ltd. (Reg.)	8,639		611,909
Julius Baer Group Ltd.	8,549		373,894
Kuehne & Nagel International AG	1,967		255,956
Lindt & Spruengli AG	4		239,568
Lindt & Spruengli AG (participation certificate)	33		165,523
Lonza Group AG	1,956		215,289
Nestle SA	121,173		8,886,096
Novartis AG	86,386		8,016,869
Pargesa Holding SA	1,247		96,880
Partners Group Holding AG	678		180,220
Roche Holding AG (participation certificate)	26,387		7,786,847
Schindler Holding AG:
(participation certificate)	1,754		245,011
Common Stocks - continued
	Shares		Value
Switzerland - continued
Schindler Holding AG: - continued
(Reg.)	807		$ 109,205
SGS SA (Reg.)	210		460,968
Sika AG (Bearer)	78		278,065
Sonova Holding AG Class B	2,058		320,416
Sulzer AG (Reg.)	896		101,879
Swatch Group AG (Bearer)	1,130		535,081
Swatch Group AG (Bearer) (Reg.)	2,006		169,504
Swiss Life Holding AG	1,185		271,448
Swiss Prime Site AG	2,147		163,120
Swiss Re Ltd.	13,203		1,066,230
Swisscom AG	872		513,421
Syngenta AG (Switzerland)	3,503		1,083,329
Transocean Ltd. (Switzerland) (d)	13,791		406,069
UBS AG	137,273		2,386,923
Zurich Insurance Group AG	5,592		1,690,125
TOTAL SWITZERLAND			44,439,669
Taiwan - 2.5%
Acer, Inc. (a)	108,000		74,101
Advanced Semiconductor Engineering, Inc.	226,916		273,314
Advantech Co. Ltd.	10,994		76,371
Asia Cement Corp.	75,466		97,271
Asia Pacific Telecom Co. Ltd.	71,000		42,002
ASUSTeK Computer, Inc.	27,000		275,245
AU Optronics Corp.	327,000		155,596
Catcher Technology Co. Ltd.	23,000		193,857
Cathay Financial Holding Co. Ltd.	306,285		504,082
Chang Hwa Commercial Bank	162,003		101,982
Cheng Shin Rubber Industry Co. Ltd.	57,899		135,017
Chicony Electronics Co. Ltd.	21,220		61,013
China Airlines Ltd. (a)	92,490		36,153
China Development Finance Holding Corp.	510,800		163,935
China Life Insurance Co. Ltd.	96,471		84,009
China Motor Co. Ltd.	11,000		10,010
China Steel Corp.	436,426		375,927
Chinatrust Financial Holding Co. Ltd.	507,724		355,502
Chunghwa Telecom Co. Ltd.	142,000		432,571
Clevo Co. Ltd.	13,161		23,333
Compal Electronics, Inc.	162,000		119,550
CTCI Corp.	17,000		27,749
Delta Electronics, Inc.	69,000		413,299
Common Stocks - continued
	Shares		Value
Taiwan - continued
E.SUN Financial Holdings Co. Ltd.	222,351		$ 140,614
ECLAT Textile Co. Ltd.	6,240		59,432
EPISTAR Corp.	30,000		54,165
EVA Airways Corp. (a)	76,400		44,693
Evergreen Marine Corp. (Taiwan) (a)	72,000		42,491
Far Eastern Department Stores Co. Ltd.	37,468		33,826
Far Eastern Textile Ltd.	108,691		114,115
Far EasTone Telecommunications Co. Ltd.	65,000		143,626
Farglory Land Development Co. Ltd.	21,398		21,131
First Financial Holding Co. Ltd.	296,178		182,065
Formosa Chemicals & Fibre Corp.	121,590		282,671
Formosa International Hotel Corp.	1,210		12,511
Formosa Petrochemical Corp.	39,000		91,403
Formosa Plastics Corp.	157,480		363,112
Formosa Taffeta Co. Ltd.	34,000		34,324
Foxconn Technology Co. Ltd.	36,413		97,005
Fubon Financial Holding Co. Ltd.	244,398		413,102
Giant Manufacturing Co. Ltd.	10,000		80,844
Hermes Microvision, Inc.	1,000		46,951
Highwealth Construction Corp.	24,600		42,510
HIWIN Technologies Corp.	7,324		57,854
Hon Hai Precision Industry Co. Ltd. (Foxconn)	468,696		1,481,110
Hotai Motor Co. Ltd.	10,000		146,103
HTC Corp. (a)	25,000		110,524
Hua Nan Financial Holdings Co. Ltd.	234,883		138,959
Innolux Corp.	299,427		136,624
Inotera Memories, Inc. (a)	79,000		121,902
Inventec Corp.	91,280		63,415
Kinsus Interconnect Technology Corp.	8,000		30,060
Largan Precision Co. Ltd.	4,000		280,559
Lite-On Technology Corp.	82,570		115,700
MediaTek, Inc.	52,970		755,389
Mega Financial Holding Co. Ltd.	372,632		308,578
Merida Industry Co. Ltd.	6,300		43,450
Nan Ya Plastics Corp.	180,780		373,554
Novatek Microelectronics Corp.	23,000		118,864
Pegatron Corp.	65,000		118,277
Phison Electronics Corp.	4,000		26,975
Pou Chen Corp.	86,000		94,683
Powertech Technology, Inc.	27,000		45,323
President Chain Store Corp.	22,000		164,550
Quanta Computer, Inc.	105,000		263,927
Common Stocks - continued
	Shares		Value
Taiwan - continued
Radiant Opto-Electronics Corp.	16,241		$ 56,663
Realtek Semiconductor Corp.	14,090		46,631
Ruentex Development Co. Ltd.	29,703		44,270
Ruentex Industries Ltd.	23,015		49,124
ScinoPharm Taiwan Ltd.	7,363		14,891
Shin Kong Financial Holding Co. Ltd.	272,412		82,612
Siliconware Precision Industries Co. Ltd.	110,000		156,672
Simplo Technology Co. Ltd.	10,200		49,546
Sinopac Holdings Co.	288,916		125,245
Standard Foods Corp.	12,944		29,818
Synnex Technology International Corp.	44,000		61,761
Taishin Financial Holdings Co. Ltd.	310,541		147,907
Taiwan Business Bank	168,473		50,603
Taiwan Cement Corp.	126,000		192,447
Taiwan Cooperative Financial Holding Co. Ltd.	224,739		120,016
Taiwan Fertilizer Co. Ltd.	28,000		49,598
Taiwan Glass Industry Corp.	44,225		34,256
Taiwan Mobile Co. Ltd.	65,600		212,535
Taiwan Semiconductor Manufacturing Co. Ltd.	926,000		4,007,833
TECO Electric & Machinery Co. Ltd.	74,000		82,210
Transcend Information, Inc.	10,000		33,735
TSRC Corp.	17,010		19,109
U-Ming Marine Transport Corp.	13,000		20,353
Unified-President Enterprises Corp.	169,231		290,537
Unimicron Technology Corp.	50,000		38,428
United Microelectronics Corp.	477,000		211,457
Vanguard International Semiconductor Corp.	36,000		54,001
Walsin Lihwa Corp. (a)	114,000		37,788
Wistron Corp.	90,047		94,457
WPG Holding Co. Ltd.	58,000		70,541
Yang Ming Marine Transport Corp. (a)	61,000		27,881
Yuanta Financial Holding Co. Ltd.	325,194		163,553
Yulon Motor Co. Ltd.	33,000		48,610
TOTAL TAIWAN			18,053,948
Thailand - 0.5%
Advanced Info Service PCL (For. Reg.)	37,800		277,466
Airports of Thailand PCL (For. Reg.)	16,500		122,567
Bangkok Bank PCL	18,400		114,099
Bangkok Bank PCL (For. Reg.)	21,000		130,222
Bangkok Dusit Medical Services PCL (For. Reg.)	109,000		61,879
Banpu PCL (For. Reg.)	46,300		40,158
Common Stocks - continued
	Shares		Value
Thailand - continued
BEC World PCL (For. Reg.)	34,100		$ 50,515
BTS Group Holdings PCL	168,800		53,408
Bumrungrad Hospital PCL (For. Reg.)	15,100		61,650
C.P. ALL PCL (For. Reg.)	161,600		225,679
Central Pattana PCL (For. Reg.)	48,500		71,884
Charoen Pokphand Foods PCL (For. Reg.)	105,500		101,233
Glow Energy PCL (For. Reg.)	21,000		64,539
Home Product Center PCL (For. Reg.)	104,850		29,923
Indorama Ventures PCL:
warrants 8/24/17 (a)	4,070		448
warrants 8/24/18 (a)	3,131		283
(For. Reg.)	40,700		29,857
IRPC PCL (For. Reg.)	378,700		39,744
Kasikornbank PCL	24,900		180,345
Kasikornbank PCL (For. Reg.)	43,200		312,887
Krung Thai Bank PCL (For. Reg.)	137,855		98,602
Minor International PCL:
warrants 10/16/17 (a)	3,135		598
(For. Reg.)	62,700		66,868
PTT Exploration and Production PCL (For. Reg.)	52,044		233,913
PTT Global Chemical PCL (For. Reg.)	64,439		122,274
PTT PCL (For. Reg.)	32,300		365,434
Siam Cement PCL	3,800		52,743
Siam Cement PCL (For. Reg.)	13,100		181,824
Siam Commercial Bank PCL (For. Reg.)	57,100		311,273
Thai Oil PCL (For. Reg.)	26,500		36,348
TMB PCL (For. Reg.)	367,100		34,692
True Corp. PCL (For. Reg.) (a)	377,932		136,964
TOTAL THAILAND			3,610,319
Turkey - 0.4%
Akbank T.A.S.	69,901		252,539
Anadolu Efes Biracilik Ve Malt Sanayii A/S (a)	8,245		96,448
Arcelik A/S	8,967		55,069
Bim Birlesik Magazalar A/S JSC	7,486		171,097
Coca-Cola Icecek Sanayi A/S	3,209		73,199
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S	69,285		77,931
Enka Insaat ve Sanayi A/S	21,313		51,589
Eregli Demir ve Celik Fabrikalari T.A.S.	47,337		98,608
Ford Otomotiv Sanayi A/S	3,001		38,345
Haci Omer Sabanci Holding A/S	34,746		158,672
Koc Holding A/S	25,001		127,668
Common Stocks - continued
	Shares		Value
Turkey - continued
Koza Altin Isletmeleri A/S	1,096		$ 7,076
TAV Havalimanlari Holding A/S	6,922		58,082
Tofas Turk Otomobil Fabrikasi A/S	3,937		24,710
Tupras Turkiye Petrol Rafinelleri A/S	4,323		93,845
Turk Hava Yollari AO (a)	21,476		70,438
Turk Sise ve Cam Fabrikalari A/S	14,301		21,748
Turk Telekomunikasyon A/S	18,793		54,029
Turkcell Iletisim Hizmet A/S (a)	34,068		198,047
Turkiye Garanti Bankasi A/S	88,294		344,602
Turkiye Halk Bankasi A/S	24,600		164,358
Turkiye Is Bankasi A/S Series C	60,812		152,122
Turkiye Vakiflar Bankasi TAO	26,198		56,341
Ulker Biskuvi Sanayi A/S	5,847		43,143
Yapi ve Kredi Bankasi A/S	28,498		62,441
TOTAL TURKEY			2,552,147
United Arab Emirates - 0.1%
Abu Dhabi Commercial Bank PJSC (a)	40,500		87,109
Aldar Properties PJSC (a)	115,000		100,191
Arabtec Holding Co. (a)	36,000		41,459
DP World Ltd.	5,953		114,059
Dubai Financial Market PJSC (a)	66,000		49,415
Dubai Islamic Bank Pakistan Ltd. (a)	25,269		52,010
Emaar Properties PJSC (a)	68,500		186,496
First Gulf Bank PJSC	16,000		79,063
National Bank of Abu Dhabi PJSC (a)	22,000		80,860
TOTAL UNITED ARAB EMIRATES			790,662
United Kingdom - 12.9%
3i Group PLC	35,492		225,346
Aberdeen Asset Management PLC	34,020		236,191
Admiral Group PLC	6,988		149,236
Aggreko PLC	9,359		227,868
AMEC PLC	11,207		186,450
Anglo American PLC (United Kingdom)	52,563		1,109,791
Antofagasta PLC	14,253		160,174
ARM Holdings PLC	53,009		750,468
ASOS PLC (a)	2,199		93,431
Associated British Foods PLC	13,418		591,140
AstraZeneca PLC (United Kingdom)	47,428		3,464,539
Aviva PLC	110,589		924,994
Babcock International Group PLC	18,981		332,485
Common Stocks - continued
	Shares		Value
United Kingdom - continued
BAE Systems PLC	118,831		$ 871,961
Barclays PLC	618,816		2,379,916
BG Group PLC	128,092		2,134,785
BHP Billiton PLC	79,441		2,052,486
BP PLC	669,718		4,818,557
BP PLC sponsored ADR	5,120		222,515
British American Tobacco PLC (United Kingdom)	70,357		3,987,665
British Land Co. PLC	36,389		424,071
British Sky Broadcasting Group PLC	38,967		552,293
BT Group PLC	297,105		1,751,532
Bunzl PLC	12,765		346,122
Burberry Group PLC	16,311		399,479
Capita Group PLC	25,032		439,279
Carnival PLC	6,668		265,893
Carphone Warehouse Group PLC	37,351		236,134
Centrica PLC	189,209		915,600
Cobham PLC	41,299		192,186
Compass Group PLC	63,206		1,017,173
Croda International PLC	5,212		191,349
Diageo PLC	94,252		2,779,717
Direct Line Insurance Group PLC	57,086		252,045
easyJet PLC	6,097		146,301
Fresnillo PLC	8,346		93,124
G4S PLC (United Kingdom)	56,081		229,216
GKN PLC	62,499		317,935
GlaxoSmithKline PLC	182,475		4,126,483
Hammerson PLC	26,100		255,941
Hargreaves Lansdown PLC	8,689		138,094
HSBC Holdings PLC (United Kingdom)	722,438		7,365,518
ICAP PLC	22,290		149,262
IMI PLC	9,835		192,258
Imperial Tobacco Group PLC	35,935		1,558,424
Inmarsat PLC	15,327		167,952
InterContinental Hotel Group PLC	8,674		329,483
Intertek Group PLC	6,150		267,795
Intu Properties PLC	32,144		175,036
Investec PLC	20,090		183,829
ITV PLC	144,245		468,420
J Sainsbury PLC (d)	47,037		184,727
Johnson Matthey PLC	7,757		369,040
Kingfisher PLC	87,496		423,871
Land Securities Group PLC	29,872		528,994
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Legal & General Group PLC	221,715		$ 819,305
Lloyds Banking Group PLC (a)	2,144,452		2,648,162
London Stock Exchange Group PLC	8,513		274,408
Marks & Spencer Group PLC	61,659		401,152
Meggitt PLC	29,761		214,763
Melrose PLC	38,821		159,043
National Grid PLC	140,218		2,080,830
Next PLC	5,827		600,768
Old Mutual PLC	184,042		569,687
Pearson PLC	30,824		576,917
Persimmon PLC	11,795		276,046
Prudential PLC	96,222		2,228,119
Reckitt Benckiser Group PLC	24,427		2,051,483
Reed Elsevier PLC	43,186		709,499
Rexam PLC	26,834		204,329
Rio Tinto PLC	47,830		2,275,820
Rolls-Royce Group PLC	70,724		953,746
Royal & Sun Alliance Insurance Group PLC	37,943		293,351
Royal Bank of Scotland Group PLC (a)	94,363		586,707
Royal Dutch Shell PLC:
Class A (Netherlands)	17,247		616,760
Class A (United Kingdom)	125,285		4,475,400
Class A sponsored ADR	2,561		183,854
Class B (United Kingdom)	92,001		3,399,016
Royal Mail PLC	25,476		179,806
SABMiller PLC	36,203		2,041,466
Sage Group PLC	42,496		256,764
Schroders PLC	4,856		187,290
Scottish & Southern Energy PLC	37,948		970,680
Segro PLC	29,048		176,672
Severn Trent PLC	9,125		291,361
Smith & Nephew PLC	33,680		571,729
Smiths Group PLC	15,190		283,089
Sports Direct International PLC (a)	9,653		99,523
Standard Chartered PLC (United Kingdom)	92,653		1,392,647
Standard Life PLC	89,609		564,359
Tate & Lyle PLC	17,660		171,199
Tesco PLC	305,523		848,129
The Weir Group PLC	8,048		293,922
Travis Perkins PLC	9,092		240,275
TUI Travel PLC	19,553		124,678
Tullow Oil PLC	35,099		272,766
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Unilever PLC	48,236		$ 1,940,317
United Utilities Group PLC	25,887		353,861
Vodafone Group PLC	967,652		3,217,885
Vodafone Group PLC sponsored ADR	2,563		85,143
Whitbread PLC	6,853		478,414
William Hill PLC	31,632		182,419
WM Morrison Supermarkets PLC	82,165		203,468
TOTAL UNITED KINGDOM			94,381,601
United States of America - 0.0%
Southern Copper Corp. (d)	6,532		187,991
TOTAL COMMON STOCKS (Cost $649,532,439)		669,505,559
Nonconvertible Preferred Stocks - 1.5%

Brazil - 0.9%
AES Tiete SA (PN) (non-vtg.)	3,600		27,183
Banco Bradesco SA (PN)	80,190		1,207,753
Banco do Estado Rio Grande do Sul SA	8,100		48,380
Bradespar SA (PN)	9,600		64,855
Braskem SA (PN-A)	6,900		50,485
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)	9,900		37,476
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN)	5,100		213,846
Companhia Energetica de Minas Gerais (CEMIG) (PN)	27,187		156,129
Companhia Energetica de Sao Paulo Series B	6,900		68,028
Companhia Paranaense de Energia-Copel (PN-B)	3,900		54,473
Gerdau SA (PN)	33,000		147,694
Itau Unibanco Holding SA	103,653		1,537,289
Itausa-Investimentos Itau SA (PN)	119,348		476,352
Lojas Americanas SA (PN)	17,797		105,005
Metalurgica Gerdau SA (PN)	11,700		63,271
Oi SA (PN)	91,548		48,030
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)	157,900		973,692
Suzano Papel e Celulose SA	13,200		55,721
Telefonica Brasil SA	11,000		224,670
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.) (a)	15,100		34,735
Vale SA (PN-A)	71,300		620,088
TOTAL BRAZIL			6,215,155
Nonconvertible Preferred Stocks - continued
	Shares		Value
Chile - 0.0%
Embotelladora Andina SA Class B	10,186		$ 31,989
Sociedad Quimica y Minera de Chile SA (PN-B)	3,214		74,873
TOTAL CHILE			106,862
Colombia - 0.1%
Banco Davivienda SA	3,654		54,521
BanColombia SA (PN)	15,924		223,826
Grupo Aval Acciones y Valores SA	67,664		45,877
Grupo de Inversiones Suramerica SA	2,568		51,772
Inversiones Argos SA	5,290		58,364
TOTAL COLOMBIA			434,360
France - 0.0%
Air Liquide SA (a)	826		99,629
Germany - 0.4%
Bayerische Motoren Werke AG (BMW) (non-vtg.)	2,136		170,936
FUCHS PETROLUB AG	2,588		100,343
Henkel AG & Co. KGaA	6,677		659,175
Porsche Automobil Holding SE (Germany)	5,563		455,433
Volkswagen AG	6,169		1,314,603
TOTAL GERMANY			2,700,490
Italy - 0.0%
Telecom Italia SpA (Risparmio Shares)	231,134		206,517
Korea (South) - 0.1%
Hyundai Motor Co.	792		91,035
Hyundai Motor Co. Series 2	1,512		180,126
LG Chemical Ltd.	366		54,162
Samsung Electronics Co. Ltd.	795		728,818
TOTAL KOREA (SOUTH)			1,054,141
Russia - 0.0%
AK Transneft OAO (a)	55		120,191
Sberbank (Savings Bank of the Russian Federation) (a)	24,295		32,141
Surgutneftegas (a)	91,433		62,702
TOTAL RUSSIA			215,034
United Kingdom - 0.0%
Rolls-Royce Group PLC	6,365,160		10,182
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $12,299,726)		11,042,370

Government Obligations - 0.4%
	Principal Amount	Value
United States of America - 0.4%
U.S. Treasury Bills, yield at date of purchase 0.05% to 0.06% 11/28/14 to 6/25/15 (f) (Cost $2,799,423)	$ 2,800,000	$ 2,799,428

Money Market Funds - 6.0%
	Shares
Fidelity Cash Central Fund, 0.11% (b)	40,896,687		40,896,687
Fidelity Securities Lending Cash Central Fund, 0.11% (b)(c)	3,203,996		3,203,996
TOTAL MONEY MARKET FUNDS (Cost $44,100,683)		44,100,683
TOTAL INVESTMENT PORTFOLIO - 99.7% (Cost $708,732,271)			727,448,040
NET OTHER ASSETS (LIABILITIES) - 0.3%			2,100,852
NET ASSETS - 100%		$ 729,548,892

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
366 NYSE E-mini MSCI EAFE Index Contracts (United States)	Dec. 2014	$ 33,598,800	$ (58,067)
228 NYSE E-mini MSCI EAFE Index Contracts (United States)	Dec. 2014	11,555,040	(156,547)
24 TME S&P/TSX 60 Index Contracts (Canada)	Dec. 2014	3,610,700	(62,680)
TOTAL EQUITY INDEX CONTRACTS		$ 48,764,540	$ (277,294)

The face value of futures purchased as a percentage of net assets is 6.7%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $22,293,601.

Legend

(a) Non-income producing

(d) Security or a portion of the security is on loan at period end.

(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 $2,202,447.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 23,119
Fidelity Securities Lending Cash Central Fund	148,594
Total	$ 171,713

Other Information

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

The following is a summary of the inputs used, as of October 31, 2014, 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 in the table 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:
Consumer Discretionary	$ 73,111,877	$ 40,893,633	$ 32,178,799	$ 39,445
Consumer Staples	67,188,964	25,675,943	41,513,021	-
Energy	57,691,222	23,686,067	34,005,155	-
Financials	187,408,732	75,886,244	111,396,902	125,586
Health Care	58,184,443	12,989,374	45,195,069	-
Industrials	73,829,666	37,205,905	36,460,548	163,213
Information Technology	48,465,116	11,998,473	36,466,643	-
Materials	52,954,851	27,624,323	25,330,528	-
Telecommunication Services	37,021,688	11,132,514	25,889,174	-
Utilities	24,691,370	14,273,196	10,418,174	-
Government Obligations	2,799,428	-	2,799,428	-
Money Market Funds	44,100,683	44,100,683	-	-
Total Investments in Securities:	$ 727,448,040	$ 325,466,355	$ 401,653,441	$ 328,244
Derivative Instruments:
Liabilities
Futures Contracts	$ (277,294)	$ (277,294)	$ -	$ -

Transfers	Total
Level 1 to Level 2	$ 78,735,275
Level 2 to Level 1	$ 911,220

Value of Derivative Instruments

Primary Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts	$ -	$ (277,294)
Total Value of Derivatives	$ -	$ (277,294)

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Global ex U.S. Index Fund

Financial Statements

Statement of Assets and Liabilities

	October 31, 2014

Assets
Investment in securities, at value (including securities loaned of $3,057,154) - See accompanying schedule: Unaffiliated issuers (cost $664,631,588)	$ 683,347,357
Fidelity Central Funds (cost $44,100,683)	44,100,683
Total Investments (cost $708,732,271)		$ 727,448,040
Foreign currency held at value (cost $2,243,802)		2,229,451
Receivable for fund shares sold		2,352,550
Dividends receivable		1,339,701
Distributions receivable from Fidelity Central Funds		7,463
Receivable for daily variation margin for derivative instruments		704,866
Receivable from investment adviser for expense reductions		56,825
Other receivables		457
Total assets		734,139,353

Liabilities
Payable to custodian bank	$ 4
Payable for investments purchased	336,758
Payable for fund shares redeemed	801,222
Accrued management fee	116,636
Other affiliated payables	36,329
Other payables and accrued expenses	95,516
Collateral on securities loaned, at value	3,203,996
Total liabilities		4,590,461

Net Assets		$ 729,548,892
Net Assets consist of:
Paid in capital		$ 697,273,407
Undistributed net investment income		15,287,239
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(1,294,605)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		18,282,851
Net Assets		$ 729,548,892

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Global ex U.S. Index Fund
Financial Statements - continued

Statement of Assets and Liabilities - continued

	October 31, 2014

Investor Class: Net Asset Value, offering price and redemption price per share ($15,308,698 ÷ 1,246,256 shares)		$ 12.28

Fidelity Advantage Class: Net Asset Value, offering price and redemption price per share ($485,997,920 ÷ 39,548,140 shares)		$ 12.29

Institutional Class: Net Asset Value, offering price and redemption price per share ($153,982,849 ÷ 12,524,549 shares)		$ 12.29

Fidelity Advantage Institutional Class: Net Asset Value, offering price and redemption price per share ($74,259,425 ÷ 6,037,176 shares)		$ 12.30

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Operations

	Year ended October 31, 2014

Investment Income
Dividends		$ 17,789,065
Special dividends		2,164,711
Interest		1,463
Income from Fidelity Central Funds		171,713
Income before foreign taxes withheld		20,126,952
Less foreign taxes withheld		(1,471,191)
Total income		18,655,761

Expenses
Management fee	$ 1,153,657
Transfer agent fees	358,575
Independent trustees' compensation	2,320
Miscellaneous	869
Total expenses before reductions	1,515,421
Expense reductions	(578,941)	936,480
Net investment income (loss)		17,719,281
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	(306,427)
Foreign currency transactions	(5,731)
Futures contracts	456,387
Total net realized gain (loss)		144,229
Change in net unrealized appreciation (depreciation) on: Investment securities (net of increase in deferred foreign taxes of $54,497)	(21,889,744)
Assets and liabilities in foreign currencies	(60,508)
Futures contracts	(604,769)
Total change in net unrealized appreciation (depreciation)		(22,555,021)
Net gain (loss)		(22,410,792)
Net increase (decrease) in net assets resulting from operations		$ (4,691,511)

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Global ex U.S. Index Fund
Financial Statements - continued

Statement of Changes in Net Assets

	Year ended October 31, 2014	Year ended October 31, 2013
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 17,719,281	$ 6,329,998
Net realized gain (loss)	144,229	(243,438)
Change in net unrealized appreciation (depreciation)	(22,555,021)	36,830,381
Net increase (decrease) in net assets resulting from operations	(4,691,511)	42,916,941
Distributions to shareholders from net investment income	(6,862,481)	(1,883,129)
Distributions to shareholders from net realized gain	(932,749)	(93,195)
Total distributions	(7,795,230)	(1,976,324)
Share transactions - net increase (decrease)	320,876,989	265,547,082
Redemption fees	94,494	169,944
Total increase (decrease) in net assets	308,484,742	306,657,643

Net Assets
Beginning of period	421,064,150	114,406,507
End of period (including undistributed net investment income of $15,287,239 and undistributed net investment income of $5,651,192, respectively)	$ 729,548,892	$ 421,064,150

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Investor Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 12.44	$ 10.54	$ 10.09	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.37 ^G	.29	.29	.03
Net realized and unrealized gain (loss)	(.32)	1.76	.18	.06
Total from investment operations	.05	2.05	.47	.09
Distributions from net investment income	(.18)	(.15)	-	-
Distributions from net realized gain	(.03)	(.01)	(.03)	-
Total distributions	(.21)	(.16)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.01	- ^J
Net asset value, end of period	$ 12.28	$ 12.44	$ 10.54	$ 10.09
Total Return^{B, C}	.46%	19.79%	4.81%	.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.34%	.34%	.34%	.34% ^A
Expenses net of fee waivers, if any	.22%	.23%	.24%	.24% ^A
Expenses net of all reductions	.22%	.23%	.24%	.24% ^A
Net investment income (loss)	3.00% ^G	2.59%	2.88%	1.79% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 15,309	$ 10,037	$ 25,552	$ 1,790
Portfolio turnover rate ^F	1%	6%	7%	1% ^K

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Investment income per share reflects a large, non-recurring dividend which amounted to $.05 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 2.63%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^J Amount represents less than $.01 per share.

^K Amount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 12.44	$ 10.54	$ 10.09	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.38 ^G	.30	.30	.03
Net realized and unrealized gain (loss)	(.31)	1.76	.17	.06
Total from investment operations	.07	2.06	.47	.09
Distributions from net investment income	(.19)	(.16)	-	-
Distributions from net realized gain	(.03)	(.01)	(.03)	-
Total distributions	(.22)	(.17)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.01	- ^J
Net asset value, end of period	$ 12.29	$ 12.44	$ 10.54	$ 10.09
Total Return^{B, C}	.59%	19.88%	4.81%	.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.28%	.28%	.28%	.28% ^A
Expenses net of fee waivers, if any	.18%	.18%	.18%	.18% ^A
Expenses net of all reductions	.18%	.18%	.18%	.18% ^A
Net investment income (loss)	3.04% ^G	2.64%	2.94%	1.86% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 485,998	$ 281,895	$ 67,539	$ 17,715
Portfolio turnover rate ^F	1%	6%	7%	1% ^K

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Investment income per share reflects large, non-recurring dividends which amounted to $.05 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 2.67%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^J Amount represents less than $.01 per share.

^K Amount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Institutional Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 12.45	$ 10.55	$ 10.09	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.39 ^G	.31	.30	.03
Net realized and unrealized gain (loss)	(.33)	1.76	.18	.06
Total from investment operations	.06	2.07	.48	.09
Distributions from net investment income	(.20)	(.17)	-	-
Distributions from net realized gain	(.03)	(.01)	(.03)	-
Total distributions	(.22) ^K	(.18)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.01	- ^J
Net asset value, end of period	$ 12.29	$ 12.45	$ 10.55	$ 10.09
Total Return^{B, C}	.56%	19.94%	4.91%	.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.23%	.23%	.23%	.23% ^A
Expenses net of fee waivers, if any	.13%	.13%	.13%	.13% ^A
Expenses net of all reductions	.13%	.13%	.13%	.13% ^A
Net investment income (loss)	3.09% ^G	2.69%	2.99%	1.91% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 153,983	$ 66,248	$ 21,199	$ 7,567
Portfolio turnover rate^F	1%	6%	7%	1% ^L

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^J Amount represents less than $.01 per share.

^K Total distributions of $.22 per share is comprised of distributions from net investment income of $.195 and distributions from net realized gain of $.026 per share.

^L Amount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Institutional Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 12.45	$ 10.56	$ 10.09	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.39 ^G	.32	.30	.03
Net realized and unrealized gain (loss)	(.31)	1.74	.19	.06
Total from investment operations	.08	2.06	.49	.09
Distributions from net investment income	(.20)	(.17)	-	-
Distributions from net realized gain	(.03)	(.01)	(.03)	-
Total distributions	(.23)	(.18)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.01	- ^J
Net asset value, end of period	$ 12.30	$ 12.45	$ 10.56	$ 10.09
Total Return^{B, C}	.67%	19.87%	5.01%	.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.20%	.19%	.20%	.20% ^A
Expenses net of fee waivers, if any	.10%	.10%	.10%	.10% ^A
Expenses net of all reductions	.10%	.10%	.10%	.10% ^A
Net investment income (loss)	3.12% ^G	2.72%	3.03%	1.94% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 74,259	$ 62,884	$ 117	$ 7,568
Portfolio turnover rate^F	1%	6%	7%	1% ^K

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^J Amount represents less than $.01 per share.

^K Amount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Notes to Shareholders

1. Organization.

Spartan Emerging Markets Index Fund and Spartan Global ex U.S. Index Fund (the Funds) are funds of Fidelity Salem Street Trust (the Trust) and are authorized to issue an unlimited number of shares. 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. Each Fund offers Investor Class, Fidelity Advantage Class, Institutional Class and Fidelity Advantage Institutional Class shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Each Fund offers conversion privileges between share classes within each Fund to eligible shareholders. 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.

The Funds 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 Funds' Schedules of Investments list each of the Fidelity Central Funds held as of period end, if any, as an investment of each Fund, but do not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, each Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Funds' Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.

3. Significant Accounting Policies.

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Notes to Shareholders - continued

3. Significant Accounting Policies - continued

any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Funds:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), each Fund attempts to obtain prices from one or more third party pricing vendors 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 Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees each Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations.

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 - 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 vendor 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. Utilizing these techniques may result in

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3. Significant Accounting Policies - continued

Investment Valuation - continued

transfers between Level 1 and Level 2. 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 vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors 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 vendors. 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 October 31, 2014, including information on transfers between Levels 1 and 2 is included at the end of each Fund's Schedule of Investments.

Foreign Currency. The 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.

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Notes to Shareholders - continued

3. Significant Accounting Policies - continued

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. 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. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Funds determine the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Large, non-recurring dividends recognized by the Funds are presented separately on the Statement of Operations as "Special Dividends" and the impact of these dividends is presented in the Financial Highlights. 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.

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of each Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of each Fund. Each class differs with respect to transfer agent fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. 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. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

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3. Significant Accounting Policies - continued

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. As of October 31, 2014, each Fund did not have any unrecognized tax benefits in the financial statements; nor is each Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. 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. Spartan Emerging Markets Index Fund and Spartan Global ex U.S. Index Fund are subject to a tax imposed on capital gains by certain countries in which they invest. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on each applicable Fund's Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. In addition, the funds claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

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.

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Notes to Shareholders - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows for each Fund:

	Tax cost	Gross unrealized appreciation	Gross unrealized depreciation	Net unrealized appreciation (depreciation) on securities

Spartan Emerging Markets Index Fund	$ 344,308,101	$ 43,397,313	$ (28,336,097)	$ 15,061,216
Spartan Global ex U.S. Index Fund	710,173,949	67,627,588	(50,353,497)	17,274,091

The tax-based components of distributable earnings as of period end were as follows for each Fund:

	Undistributed ordinary income	Capital loss carryforward	Net unrealized appreciation (depreciation) on securities and other investments
Spartan Emerging Markets Index Fund	$ 6,018,159	$ (10,127,827)	$ 15,053,903
Spartan Global ex U.S. Index Fund	15,619,816	(462,798)	17,213,972

Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Funds are permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of fiscal period end and is subject to adjustment.

	No expiration
	Short-term	Long-term	Total no expiration
Spartan Emerging Markets Index Fund	$ (8,392,183)	$ (1,735,644)	$ (10,127,827)
Spartan Global ex U.S. Index Fund	(204,365)	(258,433)	(462,798)

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3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The tax character of distributions paid was as follows:

October 31, 2014
	Ordinary Income	Long-term Capital Gains	Total
Spartan Emerging Markets Index Fund	$ 4,624,751	$ -	$ 4,624,751
Spartan Global ex U.S. Index Fund	7,436,480	358,750	7,795,230
October 31, 2013
	Ordinary Income	Long-term Capital Gains	Total
Spartan Emerging Markets Index Fund	$ 2,105,350	$ -	$ 2,105,350
Spartan Global ex U.S. Index Fund	1,953,025	23,299	1,976,324

Short-Term Trading (Redemption) Fees. Shares held by investors in the Funds less than 90 days may be subject to a redemption fee equal to 1.50% and 1.00% of the NAV of shares redeemed from Spartan Emerging Markets Index and Spartan Global ex U.S. Index, respectively. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Funds and accounted for as an addition to paid in capital.

Restricted Securities. The 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 is included at the end of each applicable Fund's Schedule of Investments.

New Accounting Pronouncement. In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Funds' financial statements and related disclosures.

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Notes to Shareholders - continued

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Funds' investment objective allows the Funds to enter into various types of derivative contracts, 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.

The Funds used derivatives 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 Funds may not achieve their objectives.

The Funds' use of derivatives increased or decreased their exposure to the following risk:

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.

The 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 the Funds 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 the Funds. Counterparty credit risk related to exchange-traded futures 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.

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4. Derivative Instruments - continued

Net Realized Gain (Loss) and Change in Net Unrealized Appreciation (Depreciation) on Derivatives. The table below, which reflects the impacts of derivatives on the financial performance of the Fund, summarizes the net realized gain (loss) and change in net unrealized appreciation (depreciation) for derivatives during the period as presented in the Statement of Operations.

Primary Risk Exposure / Derivative Type	Net Realized Gain (Loss)	Change in Net Unrealized Appreciation (Depreciation)
Spartan Emerging Markets Index Fund
Equity Risk
Futures Contracts	$ (428,790)	$ 176,040
Totals (a)	$ (428,790)	$ 176,040
Spartan Global ex U.S. Index Fund
Futures Contracts	$ 456,387	$ (604,769)
Totals (a)	$ 456,387	$ (604,769)

(a) A summary of the value of derivatives by primary risk exposure as of period end, if any is included at the end of the Schedule of Investments.

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. The Funds used futures contracts to manage their 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 (variation margin) 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 for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments.

Annual Report

Notes to Shareholders - continued

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, are noted in the table below.

	Purchases ($)	Sales ($)
Spartan Emerging Markets Index Fund	149,160,924	20,626,754
Spartan Global ex U.S. Index Fund	299,799,054	6,985,295

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. Fidelity Management & Research Company (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 .25% and .20% of average net assets for Spartan Emerging Markets Index Fund and Spartan Global ex U.S. Index Fund, respectively. Under the management contract, the investment adviser pays all other fund-level expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense, including commitment fees.

In addition, under an expense contract, the investment adviser pays class-level expenses as necessary so that the total expenses do not exceed certain amounts of each class' average net assets on an annual basis with certain exceptions, as noted in the following table:

	Investor Class	Fidelity Advantage Class	Institutional Class	Fidelity Advantage Institutional Class
Spartan Emerging Markets Index Fund	.46%	.35%	.28%	.25%
Spartan Global ex U.S. Index Fund	.34%	.28%	.23%	.20%

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.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Funds. FIIOC receives transfer agent fees at an annual rate of .21%, .11%, .035% and .015% of average net assets for each Fund's Investor Class, Fidelity Advantage Class, Institutional Class, and Fidelity Advantage Institutional Class, respectively. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

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6. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

Under the expense contract for Spartan Emerging Markets Index Fund, Investor Class, Fidelity Advantage Class and Institutional Class pay all or a portion of the transfer agent fees at an annual rate of .21%, .10% and .03% of average net assets, respectively. Fidelity Advantage Institutional Class does not pay transfer agent fees.

Under the expense contract, for Spartan Global ex U.S. Index Fund, Investor Class, Fidelity Advantage Class and Institutional Class pay a portion of the transfer agent fees at an annual rate of .14%, .08% and .03% of average net assets, respectively. Fidelity Advantage Institutional Class does not pay transfer agent fees.

For the period, the total transfer agent fees paid by each applicable class were as follows:

Spartan Emerging Markets Index Fund	Amount
Investor Class	$ 26,351
Fidelity Advantage Class	245,174
Institutional Class	2,745
	$ 274,270
Spartan Global ex U.S. Index Fund
Investor Class	$ 19,300
Fidelity Advantage Class	306,793
Institutional Class	32,482
	$ 358,575

Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the Funds, along with other registered investment companies having management contracts with FMR or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Each applicable fund's 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
Spartan Emerging Markets Index Fund	Borrower	$ 12,544,000	.31%	$ 755

Other. During the period, the investment adviser reimbursed Spartan Global ex U.S. Index Fund for certain losses in the amount of $2,291.

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Notes to Shareholders - continued

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 as follows:

Spartan Emerging Markets Index Fund	$ 409
Spartan Global ex U.S. Index Fund	869

During the period, the Funds did not borrow on this line of credit.

8. Security Lending.

Certain Funds lend portfolio securities through a lending agent from time to time in order to earn additional income. On the settlement date of the loan, each applicable 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 the Funds and any additional required collateral is delivered to the Funds on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Funds may apply collateral received from the borrower against the obligation. The Funds may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on each applicable Fund's 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 on each applicable Fund's Statement of Operations as a component of income from Fidelity Central Funds.

	Total Security Lending Income
Spartan Emerging Markets Index Fund	$ 27,962
Spartan Global ex U.S. Index Fund	$ 148,594

Annual Report

9. Bank Borrowings.

Each Fund is permitted to have bank borrowings for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity requirements. Each Fund has established borrowing arrangements with certain banks. The interest rate on the borrowings is the bank's base rate, as revised from time to time. At period end, there were no bank borrowings outstanding. Each applicable Fund's activity in this program during the period for which loans were outstanding was as follows:

	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Spartan Emerging Markets Index Fund	$ 2,166,000	.58%	$ 105

10. Expense Reductions.

The investment adviser contractually agreed to reimburse funds 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 December 31, 2015. Some expenses, for example interest expense, including commitment fees, are excluded from this reimbursement.

The following classes of each applicable Fund were in reimbursement during the period:

	Expense Limitations	Reimbursement
Spartan Emerging Markets Index Fund
Investor Class	.31%	$ 18,735
Fidelity Advantage Class	.20%	366,930
Institutional Class	.13%	13,627
Fidelity Advantage Institutional Class	.10%	2,162
Spartan Global ex U.S. Index Fund
Investor Class	.22%	16,545
Fidelity Advantage Class	.18%	382,625
Institutional Class	.13%	107,880
Fidelity Advantage Institutional Class	.10%	71,448

In addition, the investment advisor reimbursed a portion of each Fund's operating expenses during the period as follows:

Spartan Emerging Markets Index Fund	$ 613
Spartan Global ex U.S. Index Fund	422

Annual Report

Notes to Shareholders - continued

10. Expense Reductions - continued

In addition, through arrangements with each applicable Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. All of the applicable expense reductions are noted in the table below.

Spartan Emerging Markets Index Fund	$ 9
Spartan Global ex U.S. Index Fund	21

11. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

Years ended October 31,	2014	2013
Spartan Emerging Markets Index Fund
From net investment income
Investor Class	$ 196,321	$ 596,789
Fidelity Advantage Class	4,268,410	803,258
Institutional Class	5,565	9,000
Fidelity Advantage Institutional Class	154,455	1,234
Total	$ 4,624,751	$ 1,410,281
From net realized gain
Investor Class	$ -	$ 313,070
Fidelity Advantage Class	-	377,504
Institutional Class	-	3,966
Fidelity Advantage Institutional Class	-	529
Total	$ -	$ 695,069
Spartan Global ex U.S. Index Fund
From net investment income
Investor Class	$ 226,598	$ 416,574
Fidelity Advantage Class	4,521,437	1,114,795
Institutional Class	1,107,946	349,844
Fidelity Advantage Institutional Class	1,006,500	1,916
Total	$ 6,862,481	$ 1,883,129
From net realized gain
Investor Class	$ 32,059	$ 21,640
Fidelity Advantage Class	621,801	54,936
Institutional Class	147,471	16,531
Fidelity Advantage Institutional Class	131,418	88
Total	$ 932,749	$ 93,195

Annual Report

12. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

	Shares		Dollars
Years ended October 31,	2014	2013	2014	2013
Spartan Emerging Markets Index Fund
Investor Class
Shares sold	2,118,414	5,062,409	$ 20,793,163	$ 51,516,941
Reinvestment of distributions	18,567	82,497	174,910	824,144
Shares redeemed	(1,506,553)	(8,686,974)	(14,651,496)	(87,732,120)
Net increase (decrease)	630,428	(3,542,068)	$ 6,316,577	$ (35,391,035)
Fidelity Advantage Class
Shares sold	19,048,224	24,217,181	$ 188,162,218	$ 238,491,795
Reinvestment of distributions	429,331	111,290	4,044,463	1,111,792
Shares redeemed	(8,594,278)	(8,707,952)	(83,053,370)	(84,458,854)
Net increase (decrease)	10,883,277	15,620,519	$ 109,153,311	$ 155,144,733
Institutional Class
Shares sold	2,439,446	53,539	$ 23,794,505	$ 528,823
Reinvestment of distributions	590	1,297	5,565	12,966
Shares redeemed	(366,209)	(60,597)	(3,651,261)	(586,567)
Net increase (decrease)	2,073,827	(5,761)	$ 20,148,809	$ (44,778)
Fidelity Advantage Institutional Class
Shares sold	111,992	815,606	$ 1,072,931	$ 7,380,534
Reinvestment of distributions	16,379	176	154,455	1,763
Shares redeemed	(850,397)	(90,970)	(7,894,709)	(868,609)
Net increase (decrease)	(722,026)	724,812	$ (6,667,323)	$ 6,513,688

Spartan Global ex U.S. Index Fund
Investor Class
Shares sold	1,766,047	1,801,296	$ 21,906,686	$ 20,127,243
Reinvestment of distributions	16,896	37,086	200,243	401,269
Shares redeemed	(1,343,717)	(3,456,497)	(16,581,244)	(38,972,386)
Net increase (decrease)	439,226	(1,618,115)	$ 5,525,685	$ (18,443,874)
Fidelity Advantage Class
Shares sold	22,421,200	18,744,389	$ 280,562,019	$ 214,525,504
Reinvestment of distributions	409,534	104,604	4,853,705	1,131,814
Shares redeemed	(5,939,074)	(2,597,969)	(73,832,191)	(29,841,950)
Net increase (decrease)	16,891,660	16,251,024	$ 211,583,533	$ 185,815,368

Annual Report

Notes to Shareholders - continued

12. Share Transactions - continued

	Shares		Dollars
Years ended October 31,	2014	2013	2014	2013
Spartan Global ex U.S. Index Fund
Institutional Class
Shares sold	9,020,573	6,166,157	$ 114,310,631	$ 69,861,478
Reinvestment of distributions	105,927	33,861	1,255,417	366,375
Shares redeemed	(1,923,850)	(2,887,399)	(23,985,703)	(32,632,011)
Net increase (decrease)	7,202,650	3,312,619	$ 91,580,345	$ 37,595,842
Fidelity Advantage Institutional Class
Shares sold	1,955,903	5,098,656	$ 24,287,152	$ 61,312,872
Reinvestment of distributions	96,013	185	1,137,918	2,004
Shares redeemed	(1,063,984)	(60,641)	(13,237,644)	(735,130)
Net increase (decrease)	987,932	5,038,200	$ 12,187,426	$ 60,579,746

13. Other.

The Funds' 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 Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.

Annual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Salem Street Trust and Shareholders of Spartan Emerging Markets Index Fund and Spartan Global ex U.S. Index Fund:

We have audited the accompanying statements of assets and liabilities of, including the schedules of investments, as of October 31, 2014, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods presented. These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of October 31, 2014, by correspondence with the custodians and brokers; where replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of as of October 31, 2014, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

December 22, 2014

Annual Report

Trustees and Officers

The Trustees and officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, oversee management of the risks associated with such activities and contractual arrangements, and review each fund's performance. Except for Elizabeth S. Acton, James Engler, and James C. Curvey, each of the Trustees oversees 233 funds. Ms. Acton and Mr. Engler each oversees 215 funds. Mr. Curvey oversees 407 funds.

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the funds (Independent Trustee), shall retire not later than the last day of the month in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. The officers hold office without limit in time, except that any officer may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.

Experience, Skills, Attributes, and Qualifications of the Funds' Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.

Annual Report

Trustees and Officers - continued

Board Structure and Oversight Function. Abigail P. Johnson is an interested person (as defined in the 1940 Act) and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Albert R. Gamper, Jr. serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's investment-grade bond, money market, and asset allocation funds and another Board oversees Fidelity's equity and high income funds. The asset allocation funds may invest in Fidelity funds that are overseen by such other Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates, and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations and Audit Committees. In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board. Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of FMR's risk management program for the Fidelity funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Fund's Trustees."

Annual Report

The fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544.

Interested Trustees*:

Correspondence intended for each Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
James C. Curvey (1935)
Year of Election or Appointment: 2007 Trustee
	Mr. Curvey also serves as Trustee of other Fidelity funds. Mr. Curvey is a Director of Fidelity Research & Analysis Co. (2009-present), and Vice Chairman (2007-present) and Director of FMR LLC. In addition, Mr. Curvey serves as an Overseer for the Boston Symphony Orchestra and a member of the board of Artis-Naples, Naples, Florida, and as a Trustee for Brewster Academy, Wolfeboro, New Hampshire. Previously, Mr. Curvey served as a Director of Fidelity Investments Money Management, Inc. (2009-2014), a Director of FMR (2007-2014), and a Director of FMR Co., Inc. (2007-2014).
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009 Trustee Chairman of the Board of Trustees
	Ms. Johnson also serves as Trustee of other Fidelity funds. Ms. Johnson serves as President (2013-present) and Chief Executive Officer (2014-present) of FMR LLC, President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of FMR Co., Inc. (2011-present), Chairman and Director of FMR (2011-present), and the Vice Chairman and Director (2007-present) of FMR LLC. Previously, Ms. Johnson served as President and a Director of FMR (2001-2005), a Trustee of other investment companies advised by FMR, Fidelity Investments Money Management, Inc., and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity funds (2001-2005), and managed a number of Fidelity funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.

* Trustees have been determined to be "Interested Trustees" by virtue of, among other things, their affiliation with the trust or various entities under common control with FMR.

⁺ The information above includes each Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to each Trustee's qualifications to serve as a Trustee, which led to the conclusion that each Trustee should serve as a Trustee for each fund.

Annual Report

Independent Trustees:

Correspondence intended for each Independent Trustee (that is, the Trustees other than the Interested Trustees) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013 Trustee
	Ms. Acton also serves as Trustee or Member of the Advisory Board of other Fidelity funds. Prior to her retirement in April 2012, Ms. Acton was Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011), and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board of Directors and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present).
John Engler (1948)
Year of Election or Appointment: 2014 Trustee
	Mr. Engler also serves as Trustee or Member of the Advisory Board of other Fidelity funds. He serves as president of the Business Roundtable (2011-present), and on the board of directors/trustees for Universal Forest Products (manufacturing) (2003-present), K12 Inc. (for-profit education and curriculum) (2012-present), and the Annie E. Casey Foundation (2004-present). Previously, Mr. Engler served as a trustee of The Munder Funds (2003-2014), president and CEO of the National Association of Manufacturers (2005-2011) and as governor of Michigan (1991-2003).
Albert R. Gamper, Jr. (1942)
Year of Election or Appointment: 2006 Trustee Chairman of the Independent Trustees
	Mr. Gamper also serves as Trustee of other Fidelity funds. Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (2002-2003). Mr. Gamper currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2000-present), a member of the Board of Trustees, Rutgers University (2004-present), and Chairman of the Board of Barnabas Health Care System. Previously, Mr. Gamper served as Vice Chairman of the Independent Trustees of certain Fidelity funds (2011-2012) and as Chairman of the Board of Governors, Rutgers University (2004-2007).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010 Trustee
	Mr. Gartland also serves as Trustee of other Fidelity funds. Mr. Gartland is Chairman and an investor in Gartland and Mellina Group Corp. (consulting, 2009-present). Previously, Mr. Gartland served as a partner and investor of Vietnam Partners LLC (investments and consulting, 2008-2011). Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007) including Managing Director (1987-2007).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008 Trustee
	Mr. Johnson also serves as Trustee of other Fidelity funds. Mr. Johnson serves as a member of the Board of Directors of Eaton Corporation (diversified power management, 2009-present), AGL Resources, Inc. (holding company, 2002-present) and Booz Allen Hamilton (management consulting, 2011-present). Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). He previously served on the Board of Directors of IKON Office Solutions, Inc. (1999-2008) and Delta Airlines (2005-2007). Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009 Trustee
	Mr. Kenneally also serves as Trustee of other Fidelity funds. Mr. Kenneally served as a Member of the Advisory Board for certain Fidelity funds before joining the Board of Trustees (2008-2009). Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management. Before joining Credit Suisse, he was an Executive Vice President and Chief Investment Officer for Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager and Research Analyst, and Mr. Kenneally was awarded the Chartered Financial Analyst (CFA) designation in 1991.
James H. Keyes (1940)
Year of Election or Appointment: 2007 Trustee
	Mr. Keyes also serves as Trustee of other Fidelity funds. Mr. Keyes serves as a member of the Board and Non-Executive Chairman of Navistar International Corporation (manufacture and sale of trucks, buses, and diesel engines, since 2002). Previously, Mr. Keyes served as a member of the Board of Pitney Bowes, Inc. (integrated mail, messaging, and document management solutions, 1998-2013). Prior to his retirement, Mr. Keyes served as Chairman (1993-2002) and Chief Executive Officer (1988-2002) of Johnson Controls (automotive, building, and energy) and as a member of the Board of LSI Logic Corporation (semiconductor technologies, 1984-2008).
Marie L. Knowles (1946)
Year of Election or Appointment: 2001 Trustee Vice Chairman of the Independent Trustees
	Ms. Knowles also serves as Trustee of other Fidelity funds. Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company. She served as a Director of ARCO from 1996 to 1998. Ms. Knowles currently serves as a Director and Chairman of the Audit Committee of McKesson Corporation (healthcare service, since 2002). Ms. Knowles is a member of the Board of the Catalina Island Conservancy and of the Santa Catalina Island Company (2009-present). She also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Previously, Ms. Knowles served as a Director of Phelps Dodge Corporation (copper mining and manufacturing, 1994-2007), URS Corporation (engineering and construction, 2000-2003) and America West (airline, 1999-2002).
Kenneth L. Wolfe (1939)
Year of Election or Appointment: 2005 Trustee
	Mr. Wolfe also serves as Trustee of other Fidelity funds. Prior to his retirement, Mr. Wolfe served as Chairman and a Director (2007-2009) and Chairman and Chief Executive Officer (1994-2001) of Hershey Foods Corporation. He also served as a member of the Boards of Adelphia Communications Corporation (telecommunications, 2003-2006), Bausch & Lomb, Inc. (medical/pharmaceutical, 1993-2007), and Revlon, Inc. (personal care products, 2004-2009). Mr. Wolfe previously served as Chairman of the Independent Trustees of other Fidelity funds (2008-2012).

Annual Report

Officers:

Correspondence intended for each officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.

Name, Year of Birth; Principal Occupation
Elizabeth Paige Baumann (1968)
Year of Election or Appointment: 2012 Anti-Money Laundering (AML) Officer
	Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer of FMR LLC (2012-present) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as Vice President and Deputy Anti-Money Laundering Officer (2007-2012).
Marc Bryant (1966)
Year of Election or Appointment: 2013 Assistant Secretary
	Mr. Bryant also serves as an officer of other funds. He is Senior Vice President and Deputy General Counsel of FMR LLC. Previously, Mr. Bryant served as Secretary and Chief Legal Officer of Fidelity Rutland Square Trust II (2010-2014). Prior to joining Fidelity Investments, Mr. Bryant served as a Senior Vice President and the Head of Global Retail Legal for AllianceBernstein L.P. (2006-2010), and as the General Counsel for ProFund Advisors LLC (2001-2006).
Jonathan Davis (1968)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (2003-2010).
Adrien E. Deberghes (1967)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Deberghes also serves as an officer of other funds. He is an employee of Fidelity Investments (2008-present). Prior to joining Fidelity Investments, Mr. Deberghes was Senior Vice President of Mutual Fund Administration at State Street Corporation (2007-2008), Senior Director of Mutual Fund Administration at Investors Bank & Trust (2005-2007), and Director of Finance for Dunkin' Brands (2000-2005).
Stephanie J. Dorsey (1969)
Year of Election or Appointment: 2013 President and Treasurer
	Ms. Dorsey also serves as an officer of other funds. She is an employee of Fidelity Investments (2008-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Dorsey served as Treasurer (2004-2008) of the JPMorgan Mutual Funds and Vice President (2004-2008) of JPMorgan Chase Bank.
Howard J. Galligan III (1966)
Year of Election or Appointment: 2014 Chief Financial Officer
	Mr. Galligan also serves as Chief Financial Officer of other funds. Mr. Galligan serves as President of Fidelity Pricing and Cash Management Services (FPCMS) (2014-present) and as a Director of Strategic Advisers, Inc. (2008-present). Previously, Mr. Galligan served as Chief Administrative Officer of Asset Management (2011-2014) and Chief Operating Officer and Senior Vice President of Investment Support for Strategic Advisers, Inc. (2003-2011).
Scott C. Goebel (1968)
Year of Election or Appointment: 2008 Secretary and Chief Legal Officer (CLO)
	Mr. Goebel serves as Secretary and CLO of other funds. Mr. Goebel also serves as Secretary of Fidelity SelectCo, LLC (2013-present), Fidelity Investments Money Management, Inc. (FIMM) (2010-present) and Fidelity Research and Analysis Company (FRAC) (2010-present); General Counsel, Secretary, and Senior Vice President of FMR (2008-present) and FMR Co., Inc. (2008-present); Chief Legal Officer of Fidelity Management & Research (Hong Kong) Limited (2008-present); and Assistant Secretary of Fidelity Management & Research (Japan) Limited (2008-present) and Fidelity Management & Research (U.K.) Inc. (2008-present). Previously, Mr. Goebel served as Secretary and CLO of other Fidelity funds (2008-2013), Assistant Secretary of FIMM (2008-2010), FRAC (2008-2010), and certain funds (2007-2008); and as Vice President and Secretary of Fidelity Distributors Corporation (FDC) (2005-2007). Mr. Goebel has been employed by FMR LLC or an affiliate since 2001.
Bruce T. Herring (1965)
Year of Election or Appointment: 2013 Vice President of Fidelity's Asset Allocation Funds
	Mr. Herring also serves as Vice President of other funds. He serves as Chief Investment Officer of Fidelity Global Asset Allocation (GAA) (2013-present), Group Chief Investment Officer of FMR, and President of Fidelity Research & Analysis Company (2010-present). Previously, Mr. Herring served as Vice President of certain Equity Funds (2006-2014), Chief Investment Officer and Director of Fidelity Management & Research (U.K.) Inc. (2010-2013), Vice President (2005-2006) and Senior Vice President (2006-2007) of Fidelity Management & Research Company, Vice President of FMR Co., Inc. (2001-2007), and as a portfolio manager for Fidelity U.S. Equity Funds.
Chris Maher (1972)
Year of Election or Appointment: 2013 Assistant Treasurer
	Mr. Maher serves as Assistant Treasurer of other funds. Mr. Maher is Vice President of Valuation Oversight and is an employee of Fidelity Investments. Previously, Mr. Maher served as Vice President of Asset Management Compliance (2013), Vice President of FMR's Program Management Group (2010-2013), and Vice President of Valuation Oversight (2008-2010).
Nancy D. Prior (1967)
Year of Election or Appointment: 2014 Vice President
	Ms. Prior also serves as Vice President of other funds. Ms. Prior serves as a Director of Fidelity Investments Money Management, Inc. (FIMM) (2014-present), President, Fixed Income (2014-present), Vice Chairman of Pyramis Global Advisors, LLC (2014-present), and is an employee of Fidelity Investments (2002-present). Previously, Ms. Prior served as Vice President of Fidelity's Money Market Funds (2012-2014), President, Money Market and Short Duration Bond of FMR (2013-2014), President, Money Market Group of FMR (2011-2014), Managing Director of Research (2009-2011), Senior Vice President and Deputy General Counsel (2007-2009), and Assistant Secretary of other Fidelity funds (2008-2009).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2009 Assistant Treasurer
	Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Executive Vice President of Fidelity Investments Money Management, Inc. (FIMM) (2013-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served in other fund officer roles.
Stephen Sadoski (1971)
Year of Election or Appointment: 2013 Deputy Treasurer
	Mr. Sadoski also serves as Deputy Treasurer of other funds. He is an employee of Fidelity Investments (2012-present) and has served in another fund officer role. Prior to joining Fidelity Investments, Mr. Sadoski served as an assistant chief accountant in the Division of Investment Management of the Securities and Exchange Commission (SEC) (2009-2012) and as a senior manager at Deloitte & Touche LLP (1997-2009).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013 Assistant Treasurer
	Ms. Smith also serves as an officer of other funds. She is an employee of Fidelity Investments (2009-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (1996-2009).
Renee Stagnone (1975)
Year of Election or Appointment: 2013 Deputy Treasurer
	Ms. Stagnone also serves as Deputy Treasurer of other funds. Ms. Stagnone is an employee of Fidelity Investments.
Michael H. Whitaker (1967)
Year of Election or Appointment: 2008 Chief Compliance Officer
	Mr. Whitaker also serves as Chief Compliance Officer of other funds. Mr. Whitaker also serves as Compliance Officer of FMR Co., Inc. (2014-present), FMR (2014-present), Fidelity Investments Money Management, Inc. (2014-present), and is an employee of Fidelity Investments (2007-present). Prior to joining Fidelity Investments, Mr. Whitaker worked at MFS Investment Management where he served as Senior Vice President and Chief Compliance Officer (2004-2006), and Assistant General Counsel.
Derek L. Young (1964)
Year of Election or Appointment: 2009 Vice President of Fidelity's Asset Allocation Funds
	Mr. Young also serves as Trustee or an officer of other funds. He is President and a Director of Strategic Advisers, Inc. (2011-present), President of Fidelity Global Asset Allocation (GAA) (2011-present), and Vice Chairman of Pyramis Global Advisors, LLC (2011-present). Previously, Mr. Young served as Chief Investment Officer of GAA (2009-2011) and as a portfolio manager.
Joseph F. Zambello (1957)
Year of Election or Appointment: 2011 Deputy Treasurer
	Mr. Zambello also serves as Deputy Treasurer of other funds. Mr. Zambello is an employee of Fidelity Investments. Previously, Mr. Zambello served as Vice President of FMR's Program Management Group (2009-2011) and Vice President of the Transfer Agent Oversight Group (2005-2009).

Annual Report

Distributions (Unaudited)

The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities and dividends derived from net investment income:

	Pay Date	Record Date	Dividends	Capital Gains
Spartan Emerging Market Index Fund
Investor Class	12/15/14	12/12/14	$0.17100	$0.000
Fidelity Advantage Class	12/15/14	12/12/14	$0.18142	$0.000
Spartan Global ex U.S. Index Fund
Investor Class	12/15/14	12/12/14	$0.27700	$0.0060
Fidelity Advantage Class	12/15/14	12/12/14	$0.28175	$0.0060

A percentage of the dividends distributed during the fiscal year for the following funds may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

Spartan Emerging Market Index Fund	December 13, 2013	December 26, 2013
Investor Class	68%	49%
Fidelity Advantage Class	65%	49%
Spartan Global ex U.S. Index Fund
Investor Class	90%	85%
Fidelity Advantage Class	88%	85%

The amounts per share which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the United States are as follows:

	Pay Date	Income	Taxes
Spartan Emerging Market Index Fund
Investor Class	12/16/13	0.1553	0.0262
	12/27/13	0.0015	0.0000
Fidelity Advantage Class	12/16/13	0.1635	0.0262
	12/27/13	0.0015	0.0000
Spartan Global ex U.S. Index Fund
Investor Class	12/16/13	0.0938	0.0162
	12/27/13	0.0004	0.0000
Fidelity Advantage Class	12/16/13	0.0960	0.0162
	12/27/13	0.0004	0.0000

The funds will notify shareholders in January 2015 of amounts for use in preparing 2014 income tax returns.

Annual Report

Board Approval of Investment Advisory Contracts and Management Fees

Spartan Emerging Markets Index Fund

Spartan Global ex U.S. Index Fund

Each year, the Board of Trustees, including the Independent Trustees (together, the Board), votes on the renewal of the management contract with Fidelity Management & Research Company (FMR) and the sub-advisory agreements (together, the Advisory Contracts) for each fund, including the fund's sub-advisory agreement with Geode Capital Management, LLC (Geode). The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, requests and considers a broad range of information relevant to the renewal of the Advisory Contracts throughout the year.

The Board meets regularly and, at each of its meetings, covers an extensive agenda of topics and materials and considers factors that are relevant to its annual consideration of the renewal of each fund's Advisory Contracts, including the services and support provided to each fund and its shareholders. The Board has established four standing committees (Committees) - Operations, Audit, Fair Valuation, and Governance and Nominating - each composed of and chaired by Independent Trustees with varying backgrounds, to which the Board has assigned specific subject matter responsibilities in order to enhance effective decision-making by the Board. The Operations Committee, of which all of the Independent Trustees are members, meets regularly throughout the year and considers, among other matters, information specifically related to the annual consideration of the renewal of each fund's Advisory Contracts. The Board, acting directly and through its Committees, requests and receives information concerning the annual consideration of the renewal of each fund's Advisory Contracts. The Board also meets as needed to consider matters specifically related to the Board's annual consideration of the renewal of the Advisory Contracts. Members of the Board may also meet with trustees of other Fidelity funds through ad hoc joint committees to discuss certain matters relevant to the Fidelity funds.

At its September 2014 meeting, the Board, including the Independent Trustees, unanimously determined to renew each fund's Advisory Contracts. In reaching its determination, the Board considered all factors it believed relevant, including (i) the nature, extent, and quality of the services to be provided to each fund and its shareholders (including the investment performance of each fund); (ii) the competitiveness of each fund's management fee and total expense ratio relative to peer funds; (iii) the total costs of the services to be provided by and the profits to be realized by Fidelity from its relationship with each fund; (iv) the extent to which economies of scale exist and would be realized as each fund grows; and (v) whether fee levels reflect these economies of scale, if any, for the benefit of fund shareholders.

In considering whether to renew the Advisory Contracts for each fund, the Board reached a determination, with the assistance of fund counsel and Independent Trustees' counsel and through the exercise of its business judgment, that the renewal of the Advisory Contracts was in the best interests of each fund and its shareholders and that the compensation payable under the Advisory Contracts was fair and reasonable. The Board's decision to renew the Advisory Contracts was not based on any single factor, but rather was based on a comprehensive consideration of all the information provided to the Board at its meetings throughout the year. The Board, in reaching its determination to renew the Advisory Contracts, was aware that shareholders of each fund have a broad range of investment choices available to them, including a wide choice among funds offered by Fidelity's competitors, and that each fund's shareholders, who have the opportunity to review and weigh the disclosure provided by the fund in its prospectus and other public disclosures, have chosen to invest in that fund, which is part of the Fidelity family of funds.

Annual Report

Nature, Extent, and Quality of Services Provided. The Board considered staffing as it relates to the funds, including the backgrounds of investment personnel of Fidelity and Geode, and also considered the funds' investment objectives, strategies, and related investment philosophies. The Independent Trustees also had discussions with senior management of Fidelity's investment operations and investment groups and of Geode. The Board considered the structure of the portfolio manager compensation program and whether this structure provides appropriate incentives to act in the best interests of each fund. Additionally, the Board considered the portfolio managers' investments, if any, in the funds that they manage.

Resources Dedicated to Investment Management and Support Services. The Board reviewed the general qualifications and capabilities of Fidelity's and Geode's investment staff, including its size, education, experience, and resources, as well as Fidelity's approach to recruiting, training, managing, and compensating investment personnel. The Board noted that Fidelity has continued to increase the resources devoted to non-U.S. offices, including expansion of Fidelity's global investment organization. The Board also noted that Fidelity's and Geode's analysts have extensive resources, tools and capabilities that allow them to conduct sophisticated quantitative and fundamental analysis, as well as credit analysis of issuers, counterparties and guarantors. Further, the Board believes that Fidelity's and Geode's investment professionals have sufficient access to information and data so as to provide competitive investment results over time, and that those professionals also have access to sophisticated tools that permit them to assess portfolio construction and risk and performance attribution characteristics continuously. Additionally, in its deliberations, the Board considered Fidelity's and Geode's trading, risk management, and compliance capabilities and resources, which are integral parts of the investment management process.

Shareholder and Administrative Services. The Board considered (i) the nature, extent, quality, and cost of advisory, administrative, and shareholder services performed by FMR, the sub-advisers (together with FMR, the Investment Advisers), and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency, pricing and bookkeeping, and securities lending services for each fund; (ii) the nature and extent of the supervision of third party service providers, principally custodians and subcustodians; and (iii) the resources devoted to, and the record of compliance with, each fund's compliance policies and procedures. The Board also reviewed the allocation of fund brokerage, including allocations to brokers affiliated with the Investment Advisers.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

The Board noted that the growth of fund assets over time across the complex allows Fidelity to reinvest in the development of services designed to enhance the value or convenience of the Fidelity funds as investment vehicles. These services include 24-hour access to account information and market information through telephone representatives and over the Internet, investor education materials and asset allocation tools, and the expanded availability of Fidelity Investor Centers.

Investment in a Large Fund Family. The Board considered the benefits to shareholders of investing in a Fidelity fund, including the benefits of investing in a fund that is part of a large family of funds offering a variety of investment disciplines and providing a large variety of mutual fund investor services. The Board noted that Fidelity had taken, or had made recommendations that resulted in the Fidelity funds taking, a number of actions over the previous year that benefited particular funds, including (i) continuing to dedicate additional resources to investment research and to the support of the senior management team that oversees asset management; (ii) persisting in efforts to enhance Fidelity's global research capabilities; (iii) launching new funds and making other enhancements to meet client needs for income-oriented solutions; (iv) reducing fund expenses for certain index funds; (v) continuing to launch dedicated lower cost underlying funds to meet portfolio construction needs related to expanding underlying fund options for Fidelity funds of funds, specifically for the Freedom Fund product lines; (vi) rationalizing product lines and gaining increased efficiencies through fund mergers; (vii) launching sector-based exchange-traded funds and establishing a new Fidelity adviser, Fidelity SelectCo, LLC, to manage sector-based funds and products; (viii) continuing to develop, acquire, and implement systems and technology to improve security and services to the funds and to increase efficiency; (ix) modifying the eligibility criteria for certain share classes to increase their marketability to a portion of the defined contribution plan market; (x) waiving redemption fees for certain qualified fund-of-fund and wrap programs and certain retirement plan transactions; and (xi) launching new Institutional Class shares of certain money market funds to attract and retain assets and to fill a gap in money market fund offerings.

Investment Performance. The Board considered whether each fund has operated in accordance with its investment objective, as well as its record of compliance with its investment restrictions and its performance history.

Annual Report

The Board took into account discussions with the Investment Advisers about fund investment performance that occur at Board meetings throughout the year. In this regard the Board noted that as part of regularly scheduled fund reviews and other reports to the Board on fund performance, the Board periodically considers annualized return information for each fund for different time periods, measured against the securities market index the fund seeks to track. The Board also periodically considers each fund's tracking error versus its benchmark index. In its evaluation of fund investment performance at meetings throughout the year, the Board gave particular attention to information indicating underperformance of certain Fidelity funds for specific time periods and the Investment Advisers' explanations for such underperformance.

In addition to reviewing absolute and relative fund performance, the Independent Trustees periodically consider the appropriateness of fund performance metrics in evaluating the results achieved. In general, the Independent Trustees believe that fund performance should be evaluated based on gross performance (before fees and expenses but after transaction costs) compared to a fund's benchmark index, over appropriate time periods, taking into account relevant factors including the following: general market conditions; the characteristics of the fund's benchmark index; the extent to which statistical sampling is employed; and fund cash flows and other factors. Depending on the circumstances, the Independent Trustees may be satisfied with a fund's performance notwithstanding that it lags its benchmark index for certain periods.

The Independent Trustees recognize that shareholders evaluate performance on a net basis (after fees and expenses) over their own holding periods, for which one-, three-, and five-year periods are often used as a proxy. For this reason, the performance information reviewed by the Board also included net cumulative calendar year total return information for each fund and its benchmark index for the most recent one-year period.

Based on its review, the Board concluded that the nature, extent, and quality of services provided to each fund under the Advisory Contracts should benefit each fund's shareholders.

Competitiveness of Management Fee and Total Expense Ratio. The Board considered each fund's management fee and total expense ratio compared to "mapped groups" of competitive funds and classes. Fidelity creates "mapped groups" by combining similar Lipper investment objective categories that have comparable investment mandates. Combining Lipper investment objective categories aids the Board's management fee and total expense ratio comparisons by broadening the competitive group used for comparison and by reducing the number of universes to which various Fidelity funds are compared.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month (or shorter) periods shown in the charts below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group." The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than a fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than a fund. The funds' actual TMG %s are in the charts below. The "Asset-Size Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which a fund's management fee rate ranked, is also included in the charts and considered by the Board. Because the vast majority of competitor funds' management fees do not cover non-management expenses, for a more meaningful comparison of management fees, each fund is compared on the basis of a hypothetical "net management fee," which is derived by subtracting payments made by FMR for "fund-level" non-management expenses (including pricing and bookkeeping fees and fees paid to non-affiliated custodians) from the fund's management fee. In this regard, the Board considered that net management fees can vary from year to year because of differences in "fund-level" non-management expenses, and that "fund-level" non-management expenses may exceed the fund's management fee and result in a negative net management fee. The Board noted, however, that FMR does not pay transfer agent fees or other "class-level" expenses under each fund's management contract.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Spartan Emerging Markets Index Fund

Annual Report

ang2262402

Spartan Global ex U.S. Index Fund

ang2262404

The Board noted that each fund's hypothetical net management fee rate ranked below the median of its Total Mapped Group and below the median of its ASPG for 2013. Although each fund's hypothetical net management fee was negative, the Board noted that it is truly a hypothetical number derived for purposes of providing a more meaningful competitive comparison and is not intended to suggest that Fidelity pays the fund to manage the fund's assets.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Based on its review, the Board concluded that each fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of the total expense ratio of each class of each fund, the Board considered the fund's hypothetical net management fee as well as the fund's gross management fee. The Board also considered other "fund-level" expenses, such as pricing and bookkeeping fees and custodial, legal, and audit fees. The Board also considered other "class-level" expenses, such as transfer agent fees. The Board also noted that Fidelity may agree to waive fees and expenses from time to time, and the extent to which, if any, it has done so for the funds. As part of its review, the Board also considered the current and historical total expense ratios of each class of each fund compared to competitive fund median expenses. Each class of each fund is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure.

The Board noted that the total expense ratio of each of Fidelity Advantage Class, Fidelity Advantage Institutional Class, and Institutional Class of Spartan Emerging Markets Index Fund ranked below its competitive median for 2013 and the total expense ratio of Investor Class ranked above its competitive median for 2013. The Board considered that, in general, various factors can affect total expense ratios.

The Board considered that current contractual arrangements for Spartan Emerging Markets Index Fund oblige FMR to pay all "class-level" expenses of each class of the fund to the extent necessary to limit total expenses, with certain exceptions, as follows: Fidelity Advantage Class: 0.35%; Fidelity Advantage Institutional Class: 0.25%; Institutional Class: 0.28%; and Investor Class: 0.46%. These contractual arrangements may not be increased without the approval of the Board. The Board further considered that FMR contractually agreed to reimburse Fidelity Advantage Class, Fidelity Advantage Institutional Class, Institutional Class, and Investor Class of the fund to the extent that total expenses (excluding interest, certain taxes, certain securities lending costs, brokerage commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of their respective average net assets, exceed 0.20%, 0.10%, 0.13%, and 0.31% through December 31, 2014.

The Board noted that the total expense ratio of Investor Class of Spartan Emerging Markets Index Fund ranked above its competitive median for 2013. The Board considered that the majority of the funds in the Total Mapped Group, which includes funds with a developed markets focus, are not comparable because they are not emerging markets funds.

The Board noted that the total expense ratio of each class of Spartan Global ex U.S. Index Fund ranked below its competitive median for the period.

Annual Report

The Board considered that current contractual arrangements for Spartan Global ex U.S. Index Fund oblige FMR to pay all "class-level" expenses of each class of the fund to the extent necessary to limit total expenses, with certain exceptions, as follows: Fidelity Advantage Class: 0.28%; Fidelity Advantage Institutional Class: 0.20%; Institutional Class: 0.23%; and Investor Class: 0.34%. These contractual arrangements may not be increased without the approval of the Board. The Board further considered that FMR contractually agreed to reimburse Fidelity Advantage Class, Fidelity Advantage Institutional Class, Institutional Class, and Investor Class of the fund to the extent that total expenses (excluding interest, certain taxes, certain securities lending costs, brokerage commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of their respective average net assets, exceed 0.18%, 0.10%, 0.13%, and 0.22% through December 31, 2014.

Fees Charged to Other Fidelity Clients. The Board also considered Fidelity fee structures and other information with respect to clients of Fidelity, such as other funds advised or subadvised by Fidelity, pension plan clients, and other institutional clients. The Board noted the findings of the 2013 ad hoc joint committee (created with the board of other Fidelity funds), which reviewed and compared Fidelity's institutional investment advisory business with its business of providing services to the Fidelity funds, including the differences in services provided, fees charged, and costs incurred, as well as competition in their respective marketplaces.

Based on its review of total expense ratios and fees charged to other Fidelity clients, the Board concluded that the total expense ratio of each class of each fund was reasonable, although Investor Class of Spartan Emerging Markets Index Fund was above the median of the universe presented for comparison, in light of the services that the fund and its shareholders receive and the other factors considered.

Costs of the Services and Profitability. The Board considered the revenues earned and the expenses incurred by Fidelity in conducting the business of developing, marketing, distributing, managing, administering and servicing each fund and servicing each fund's shareholders. The Board also considered the level of Fidelity's profits in respect of all the Fidelity funds.

On an annual basis, Fidelity presents to the Board information about the profitability of its relationship with each fund. Fidelity calculates profitability information for each fund, as well as aggregate profitability information for groups of Fidelity funds and all Fidelity funds, using a series of detailed revenue and cost allocation methodologies which originate with the books and records of Fidelity on which Fidelity's audited financial statements are based. The Audit Committee of the Board reviews any significant changes from the prior year's methodologies.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

PricewaterhouseCoopers LLP (PwC), independent registered public accounting firm and auditor to Fidelity and certain Fidelity funds, has been engaged annually by the Board as part of the Board's assessment of Fidelity's profitability analysis. PwC's engagement includes the review and assessment of the methodologies used by Fidelity in determining the revenues and expenses attributable to Fidelity's mutual fund business, and completion of agreed-upon procedures in respect of the mathematical accuracy of fund profitability and its conformity to established allocation methodologies. After considering PwC's reports issued under the engagement and information provided by Fidelity, the Board concluded that while other allocation methods may also be reasonable, Fidelity's profitability methodologies are reasonable in all material respects.

The Board also reviewed Fidelity's non-fund businesses and fall-out benefits related to the mutual fund business as well as cases where Fidelity's affiliates may benefit from or be related to the funds' business.

The Board considered the costs of the services provided by and the profits realized by Fidelity in connection with the operation of each fund and was satisfied that the profitability was not excessive.

Economies of Scale. The Board considered whether there have been economies of scale in respect of the management of the Fidelity funds, whether the Fidelity funds (including each fund) have appropriately benefited from any such economies of scale, and whether there is potential for realization of any further economies of scale. The Board considered the extent to which each fund will benefit from economies of scale as assets grow through increased services to the fund, through waivers or reimbursements, or through fee or expense ratio reductions. The Board also noted that in 2013, it and the boards of other Fidelity funds created an ad hoc committee (the Economies of Scale Committee) to analyze whether Fidelity attains economies of scale in respect of the management and servicing of the Fidelity funds, whether the Fidelity funds have appropriately benefited from such economies of scale, and whether there is potential for realization of any further economies of scale.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Additional Information Requested by the Board. In order to develop fully the factual basis for consideration of the Fidelity funds' Advisory Contracts, the Board requested and received additional information on certain topics, including: (i) Fidelity's fund profitability methodology, profitability trends for certain funds, and the impact of certain factors on fund profitability results; (ii) portfolio manager changes that have occurred during the past year and the amount of the investment that each portfolio manager has made in the Fidelity fund(s) that he or she manages; (iii) Fidelity's compensation structure for portfolio managers, research analysts, and other key personnel, including its effects on fund profitability, the rationale for the compensation structure, and the extent to which current market conditions have affected retention and recruitment; (iv) the arrangements with and compensation paid to certain fund sub-advisers on behalf of the Fidelity funds; (v) Fidelity's fee structures, including the group fee structure and definition of group assets, and the rationale for recommending different fees among different categories of funds and classes; (vi) Fidelity's voluntary waiver of its fees to maintain minimum yields for certain money market funds and classes as well as contractual waivers in place for certain funds; (vii) the methodology with respect to competitive fund data and peer group classifications; (viii) Fidelity's transfer agent fee, expense, and service structures for different funds and classes, and the impact of the increased use of omnibus accounts; and (ix) explanations regarding the relative total expense ratios of certain funds and classes, total expense competitive trends and methodologies for total expense competitive comparisons, and actions that might be taken by Fidelity to reduce total expense ratios for certain funds and classes or to achieve further economies of scale.

Annual Report

Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board ultimately concluded that the advisory fee structures are fair and reasonable, and that each fund's Advisory Contracts should be renewed.

Annual Report

Investment Adviser

Fidelity Management & Research
Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

Geode Capital Management, LLC

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

Brown Brothers Harriman & Co.

Boston, MA

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions
and Account Assistance 1-800-544-6666

Product Information 1-800-544-6666

Retirement Accounts 1-800-544-4774 (8 a.m. - 9 p.m.)

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Automated line for quickest service

(Fidelity Investment logo)(registered trademark)
Corporate Headquarters
245 Summer St., Boston, MA 02210
www.fidelity.com

EMX-GUX-UANN-1214
1.929359.103

Spartan® Emerging Markets Index Fund
Spartan Global ex U.S.

Index Fund
Institutional Class

Fidelity Advantage® Institutional Class

Annual Report

October 31, 2014

(Fidelity Cover Art)

Shareholder Expense Example	(Click Here)	An example of shareholder expenses.
Spartan® Emerging Markets Index Fund
Performance	(Click Here)	How the fund has done over time.
Management's Discussion of Fund Performance	(Click Here)	The Portfolio Manager's review of fund performance and strategy.
Investment Changes	(Click Here)	A summary of major shifts in the Fund's investments over the past six months.
Investments	(Click Here)	A complete list of the fund's investments with their market values.
Financial Statements	(Click Here)	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Spartan® Global ex U.S. Index Fund
Performance	(Click Here)	How the fund has done over time.
Management's Discussion of Fund Performance	(Click Here)	The Portfolio Manager's review of fund performance and strategy.
Investment Changes	(Click Here)	A summary of major shifts in the Fund's investments over the past six months.
Investments	(Click Here)	A complete list of the fund's investments with their market values.
Financial Statements	(Click Here)	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	(Click Here)	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	(Click Here)
Trustees and Officers	(Click Here)
Distributions	(Click Here)
Board Approval of Investment Advisory Contracts and Management Fees	(Click Here)

Annual Report

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 1-800-835-5092 to request a free copy of the proxy voting guidelines.

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.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the funds nor Fidelity Distributors Corporation is a bank.

Annual Report

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (May 1, 2014 to October 31, 2014).

Actual Expenses

Hypothetical Example for Comparison Purposes

Annual Report

Shareholder Expense Example - continued

	Annualized Expense Ratio^B	Beginning Account Value May 1, 2014	Ending Account Value October 31, 2014	Expenses Paid During Period* May 1, 2014 to October 31, 2014
Spartan Emerging Markets Index Fund
Investor Class	.31%
Actual		$ 1,000.00	$ 1,062.80	$ 1.61
Hypothetical^A		$ 1,000.00	$ 1,023.64	$ 1.58
Fidelity Advantage Class	.20%
Actual		$ 1,000.00	$ 1,063.80	$ 1.04
Hypothetical^A		$ 1,000.00	$ 1,024.20	$ 1.02
Institutional Class	.13%
Actual		$ 1,000.00	$ 1,063.70	$ .68
Hypothetical^A		$ 1,000.00	$ 1,024.55	$ .66
Fidelity Advantage Institutional Class	.10%
Actual		$ 1,000.00	$ 1,063.70	$ .52
Hypothetical^A		$ 1,000.00	$ 1,024.70	$ .51
Spartan Global ex U.S. Index Fund
Investor Class	.22%
Actual		$ 1,000.00	$ 974.60	$ 1.09
Hypothetical^A		$ 1,000.00	$ 1,024.10	$ 1.12
Fidelity Advantage Class	.18%
Actual		$ 1,000.00	$ 975.40	$ .90
Hypothetical^A		$ 1,000.00	$ 1,024.30	$ .92
Institutional Class	.13%
Actual		$ 1,000.00	$ 974.60	$ .65
Hypothetical^A		$ 1,000.00	$ 1,024.55	$ .66
Fidelity Advantage Institutional Class	.10%
Actual		$ 1,000.00	$ 975.40	$ .50
Hypothetical^A		$ 1,000.00	$ 1,024.70	$ .51

^A 5% return per year before expenses

^B Annualized expense ratio reflects expenses net of applicable fee waivers.

* Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/ 365 (to reflect the one-half year period).

Annual Report

Spartan Emerging Markets Index Fund

Performance: The Bottom Line

Average Annual Total Returns

Periods ended October 31, 2014	Past 1 year	Life of fund ^A
Institutional Class	3.37%	2.04%
Fidelity Advantage® Institutional Class	3.40%	2.06%

^A From September 8, 2011.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Spartan Emerging Markets Index Fund - Institutional Class on September 8, 2011, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the FTSE® Emerging Index performed over the same period.

ang2262425

Annual Report

Spartan Emerging Markets Index Fund

Management's Discussion of Fund Performance

Comments from Patrick Waddell, Senior Portfolio Manager of the Geode Capital Management, LLC, investment management team for Spartan® Emerging Markets Index Fund: For the 12-month period ending October 31, 2014, the fund's Institutional Class and Fidelity Advantage® Institutional Class shares gained 3.37% and 3.40%, respectively, compared with 3.70% for the benchmark FTSE® Emerging Index. This benchmark return is gross of taxes that the fund incurs. (The fund's performance relative to the index can be affected by Fidelity's methodologies for valuing certain foreign stocks and for incorporating foreign exchange rates, which differ from those used by the index.) Information technology was the strongest-performing sector in the benchmark, gaining 25% for the 12 months. In this group, Tencent Holdings, a Chinese social-media company, led the way. Chip foundry Taiwan Semiconductor Manufacturing also added significant value, as did Taiwanese contract electronics manufacturer Hon Hai Precision Industry and India's Infosys, a business consulting and outsourcing firm. On the negative side, energy and materials stocks lagged. Within the former group, Russian energy giants Gazprom and LUKOIL struggled, as did Brazil's Petrobras. In materials, Brazilian metals and mining concern Vale lost significant ground. Meanwhile, in financials, Russian commercial bank Sberbank struggled in light of the country's economic woes and international sanctions targeting the state-run financial institution.

Annual Report

Spartan Emerging Markets Index

Investment Changes (Unaudited)

Top Ten Stocks as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment)	2.9	2.8
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services)	2.0	1.7
China Mobile Ltd. (Hong Kong, Wireless Telecommunication Services)	1.8	1.5
China Construction Bank Corp. (H Shares) (China, Banks)	1.5	1.5
Industrial & Commercial Bank of China Ltd. (H Shares) (China, Banks)	1.3	1.3
Naspers Ltd. Class N (South Africa, Media)	1.2	1.1
Itau Unibanco Holding SA (Brazil, Banks)	1.1	1.2
Hon Hai Precision Industry Co. Ltd. (Foxconn) (Taiwan, Electronic Equipment & Components)	1.1	1.0
MTN Group Ltd. (South Africa, Wireless Telecommunication Services)	1.1	1.1
Gazprom OAO sponsored ADR (Reg. S) (Russia, Oil, Gas & Consumable Fuels)	1.0	1.2
	15.0
Market Sectors as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	29.5	28.7
Information Technology	12.8	11.9
Energy	10.8	12.1
Telecommunication Services	8.9	8.5
Consumer Staples	8.2	8.7
Materials	8.0	9.3
Consumer Discretionary	6.9	6.5
Industrials	5.9	5.8
Utilities	3.4	3.6
Health Care	2.6	2.0

Geographic Diversification (% of fund's net assets)
As of October 31, 2014
	Taiwan 13.3%
	China 11.9%
	Brazil 11.6%
	India 11.0%
	South Africa 9.0%
	Mexico 5.8%
	Russia 4.9%
	Hong Kong 4.7%
	Malaysia 4.6%
	Other* 23.2%

ang2262438

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

* Includes Short-Term Investments and Net Other Assets (Liabilities).

As of April 30, 2014
	Taiwan 13.3%
	Brazil 13.3%
	China 11.4%
	India 9.5%
	South Africa 9.3%
	Mexico 5.6%
	Russia 5.2%
	Malaysia 5.0%
	Hong Kong 4.1%
	Other* 23.3%

ang2262450

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

* Includes Short-Term Investments and Net Other Assets (Liabilities).

Annual Report

Spartan Emerging Markets Index

Investments October 31, 2014

Showing Percentage of Net Assets

Common Stocks - 92.0%
	Shares		Value
Bermuda - 1.1%
Apollo Solar Energy Technology Holdings Ltd. (d)	1,142,000		$ 260,560
Beijing Enterprises Water Group Ltd.	394,000		282,102
Brilliance China Automotive Holdings Ltd.	268,000		463,443
China Foods Ltd. (a)	52,000		19,459
China Gas Holdings Ltd.	154,000		275,334
China Resources Gas Group Ltd.	66,000		188,660
China Yurun Food Group Ltd. (a)(d)	126,000		53,970
CITIC Resources Holdings Ltd. (a)	194,000		27,037
Cosco Pacific Ltd.	164,735		216,776
Credicorp Ltd.	3,006		480,960
Credicorp Ltd. (United States)	2,114		340,354
GOME Electrical Appliances Holdings Ltd.	1,070,802		168,700
Haier Electronics Group Co. Ltd.	77,000		207,966
Hopson Development Holdings Ltd. (a)	48,000		42,653
Kunlun Energy Co. Ltd.	278,000		369,021
Nine Dragons Paper (Holdings) Ltd.	149,000		115,488
Shenzhen International Holdings Ltd.	96,480		153,331
Sihuan Pharmaceutical Holdings Group Ltd.	368,000		293,848
Sinofert Holdings Ltd. (a)	98,000		14,926
TOTAL BERMUDA			3,974,588
Brazil - 7.1%
AES Tiete SA	6,600		39,820
All America Latina Logistica SA	43,900		120,296
Ambev SA	466,300		3,086,210
B2W Companhia Global do Varejo (a)	9,500		123,758
Banco Bradesco SA	56,680		834,451
Banco do Brasil SA	85,500		956,824
Banco Santander SA (Brasil) unit	95,100		512,363
BB Seguridade Participacoes SA	60,000		800,517
BM&F BOVESPA SA	180,800		795,319
BR Malls Participacoes SA	43,600		350,151
BR Properties SA	17,800		89,937
Brasil Foods SA	87,100		2,266,871
BTG Pactual Participations Ltd. unit	25,500		322,622
CCR SA	85,800		638,851
Centrais Eletricas Brasileiras SA (Electrobras)	24,400		61,249
Cetip SA - Mercados Organizado	21,617		273,931
Cia. Hering SA	12,700		128,133
Cielo SA	72,128		1,184,426
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)	34,500		269,969
Common Stocks - continued
	Shares		Value
Brazil - continued
Companhia Energetica de Minas Gerais (CEMIG)	9,180		$ 55,608
Companhia Paranaense de Energia-Copel	4,400		43,487
Companhia Siderurgica Nacional SA (CSN)	67,900		226,068
Cosan Logistica SA (a)	10,900		18,255
Cosan SA Industria e Comercio	10,900		152,157
CPFL Energia SA	29,500		221,438
Cyrela Brazil Realty SA	25,200		125,293
Drogasil SA	23,600		214,199
Duratex SA	27,797		99,840
Ecorodovias Infraestrutura e Logistica SA	18,300		81,829
Embraer SA	69,000		668,029
Energias do Brasil SA	24,600		96,001
Estacio Participacoes SA	26,200		303,459
Fibria Celulose SA (a)	21,900		265,232
Gerdau SA	21,100		78,170
Guararapes Confeccoes SA	500		18,766
Hypermarcas SA (a)	38,000		265,459
JBS SA	68,900		307,254
Klabin SA unit	55,600		274,870
Kroton Educacional SA	152,248		1,085,072
Light SA	7,900		64,880
Localiza Rent A Car SA	14,090		203,113
Lojas Americanas SA	12,682		62,184
Lojas Renner SA	12,700		380,298
M. Dias Branco SA	4,500		174,995
MRV Engenharia e Participacoes SA	27,300		90,343
Multiplan Empreendimentos Imobiliarios SA	7,800		161,326
Multiplus SA	3,800		53,291
Natura Cosmeticos SA	17,200		249,889
Obrascon Huarte Lain Brasil SA	4,600		28,496
Oi SA (a)	144,300		79,782
Petroleo Brasileiro SA - Petrobras (ON)	369,400		2,183,990
Porto Seguro SA	10,000		119,860
Qualicorp SA (a)	21,800		221,704
Souza Cruz SA	37,700		304,594
Sul America SA unit	24,828		131,860
Terna Participacoes SA unit	8,600		63,861
TIM Participacoes SA	80,700		438,690
Totvs SA	14,100		205,534
Tractebel Energia SA	21,400		291,477
Ultrapar Participacoes SA	38,500		839,794
Usinas Siderurgicas de Minas Gerais SA - Usiminas (a)	20,000		53,271
Common Stocks - continued
	Shares		Value
Brazil - continued
Vale SA	136,600		$ 1,378,183
Via Varejo SA unit (a)	11,700		112,566
Weg SA	26,120		308,119
TOTAL BRAZIL			25,658,284
British Virgin Islands - 0.0%
Tianhe Chemicals Group Ltd. (d)	296,000		52,051
Cayman Islands - 3.8%
Agile Property Holdings Ltd.	100,000		56,361
Agile Property Holdings Ltd. rights 11/11/14 (a)	12,500		826
Anta Sports Products Ltd.	91,000		178,614
Belle International Holdings Ltd.	530,000		674,439
Biostime International Holdings Ltd.	10,500		23,774
Bosideng International Holdings Ltd.	204,000		30,263
China Conch Venture Holdings Ltd.	21,500		45,011
China Dongxiang Group Co. Ltd.	224,000		41,074
China Hongqiao Group Ltd.	103,000		79,391
China Huishan Dairy Hld Co. Ltd. (d)	721,000		161,747
China Resources Cement Holdings Ltd.	183,064		124,483
China Resources Land Ltd.	188,000		447,163
China State Construction International Holdings Ltd.	148,000		228,794
China Zhongwang Holdings Ltd.	162,000		85,319
Cimc Enric Holdings Ltd.	60,000		60,336
Country Garden Holdings Co. Ltd.	487,737		191,621
ENN Energy Holdings Ltd.	74,000		480,142
Evergrande Real Estate Group Ltd. (d)	591,000		227,109
GCL-Poly Energy Holdings Ltd. (a)	1,031,000		347,470
Geely Automobile Holdings Ltd.	445,000		199,203
Golden Eagle Retail Group Ltd. (H Shares)	60,000		73,556
Greentown China Holdings Ltd.	70,500		73,360
Haitian International Holdings Ltd.	58,000		124,415
Hengan International Group Co. Ltd.	73,500		774,746
Kingboard Chemical Holdings Ltd.	66,000		130,030
Kingboard Laminates Holdings Ltd.	112,000		45,674
Kingsoft Corp. Ltd.	73,000		172,362
KWG Property Holding Ltd.	109,737		76,200
Lee & Man Paper Manufacturing Ltd.	152,000		83,414
Li Ning Co. Ltd. (a)	74,000		39,230
Longfor Properties Co. Ltd.	136,500		158,345
Renhe Commercial Holdings Co. Ltd. (a)	764,000		30,553
Sany Heavy Equipment International Holdings Co. Ltd. (a)	47,000		10,417
Shenzhou International Group Holdings Ltd.	55,000		189,885
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
Shimao Property Holdings Ltd.	119,500		$ 257,192
Sino Biopharmaceutical Ltd.	284,000		285,928
SOHO China Ltd.	181,000		132,819
Tencent Holdings Ltd.	457,800		7,357,887
TPK Holding Co. Ltd.	24,775		146,027
Zhongsheng Group Holdings Ltd. Class H	51,500		53,040
TOTAL CAYMAN ISLANDS			13,898,220
Chile - 1.3%
AES Gener SA	235,413		130,549
Aguas Andinas SA	323,104		193,328
Banco de Chile	2,481,733		303,197
Banco de Credito e Inversiones	4,313		241,352
Banco Santander Chile	6,001,691		319,161
CAP SA	7,891		75,561
Cencosud SA	107,841		308,687
Colbun SA (a)	758,856		204,148
Compania Cervecerias Unidas SA	14,816		155,174
Compania de Petroleos de Chile SA (COPEC)	37,839		458,675
CorpBanca SA	16,139,918		215,696
Empresa Nacional de Electricidad SA	339,169		528,128
Empresa Nacional de Electricidad SA sponsored ADR	203		9,476
Empresa Nacional de Telecomunicaciones SA (ENTEL)	11,209		120,774
Empresas CMPC SA	109,107		266,406
Enersis SA	1,924,272		615,318
Enersis SA sponsored ADR	300		4,737
LATAM Airlines Group SA (a)	32,156		387,267
LATAM Airlines Group SA sponsored ADR (a)	212		2,586
S.A.C.I. Falabella	46,082		336,433
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR	168		3,987
TOTAL CHILE			4,880,640
China - 11.9%
Agricultural Bank of China Ltd. (H Shares)	2,584,000		1,200,767
Air China Ltd. (H Shares)	184,000		119,158
Aluminum Corp. of China Ltd. (H Shares) (a)	398,000		177,167
Angang Steel Co. Ltd. (H Shares)	102,000		74,986
Anhui Conch Cement Co. Ltd. (H Shares)	123,000		402,808
Anhui Expressway Co. Ltd. (H Shares)	56,000		34,089
Anhui Gujing Distillery Co. Ltd. (B Shares)	18,800		49,732
AviChina Industry & Technology Co. Ltd. (H Shares)	232,000		176,719
Bank Communications Co. Ltd. (H Shares)	810,000		607,345
Common Stocks - continued
	Shares		Value
China - continued
Bank of China Ltd. (H Shares)	7,526,000		$ 3,602,330
BBMG Corp. (H Shares)	109,500		77,429
Beijing Capital International Airport Co. Ltd. (H Shares)	150,000		110,093
Beijing Jingneng Clean Energy Co. Ltd. (H Shares)	148,000		66,472
Beijing North Star Co. Ltd. (H Shares)	86,000		25,955
Bengang Steel Plates Co. Ltd. (B Shares)	16,200		6,079
BOE Technology Group Co. Ltd. (B Shares) (a)	140,800		46,110
BYD Co. Ltd. (H Shares)	69,500		441,514
Changsha Zoomlion Heavy Industry Science & Technology Development Co. Ltd. (H Shares)	179,800		86,493
China BlueChemical Ltd. (H Shares)	184,000		65,341
China Cinda Asset Mngmt Co. Ltd. (H Shares)	317,000		150,032
China CITIC Bank Corp. Ltd. (H Shares)	741,000		482,724
China Coal Energy Co. Ltd. (H Shares) (d)	408,000		249,946
China Communications Construction Co. Ltd. (H Shares)	428,000		328,569
China Communications Services Corp. Ltd. (H Shares)	266,000		124,902
China Construction Bank Corp. (H Shares)	7,203,000		5,374,154
China Cosco Holdings Co. Ltd. (H Shares) (a)	264,500		118,775
China Eastern Airlines Corp. Ltd. (H Shares) (a)	266,000		101,277
China Everbright Bank Co. Ltd. (H Shares)	350,000		171,607
China Galaxy Securities Co. Ltd. (H Shares)	104,500		83,316
China International Marine Containers (Group) Ltd. (H Shares)	55,900		130,561
China Life Insurance Co. Ltd. (H Shares)	744,000		2,220,075
China Longyuan Power Grid Corp. Ltd. (H Shares)	330,000		351,908
China Machinery Engineering Co. (H Shares)	39,000		22,147
China Merchants Bank Co. Ltd. (H Shares)	465,346		862,391
China Merchants Property Development Co. Ltd. (B Shares)	13,050		21,924
China Minsheng Banking Corp. Ltd. (H Shares)	597,200		599,172
China Molybdenum Co. Ltd. (H Shares)	110,000		65,593
China National Building Materials Co. Ltd. (H Shares)	290,000		268,878
China National Materials Co. Ltd. (H Shares)	68,000		15,444
China Oilfield Services Ltd. (H Shares)	182,000		380,388
China Pacific Insurance Group Co. Ltd. (H Shares)	223,400		835,999
China Petroleum & Chemical Corp. (H Shares)	2,547,000		2,208,789
China Railway Construction Corp. Ltd. (H Shares)	180,500		189,633
China Railway Group Ltd. (H Shares)	363,000		223,936
China Shenhua Energy Co. Ltd. (H Shares)	341,500		962,530
China Shipping Container Lines Co. Ltd. (H Shares) (a)	338,000		96,396
China Shipping Development Co. Ltd. (H Shares) (a)	112,000		73,719
China Southern Airlines Ltd. (H Shares)	156,000		54,776
China Telecom Corp. Ltd. (H Shares)	1,620,000		1,032,678
China Vanke Co. Ltd. (H Shares) (a)	132,000		245,914
Common Stocks - continued
	Shares		Value
China - continued
Chongqing Changan Automobile Co. Ltd. (B Shares)	82,300		$ 181,882
Chongqing Rural Commercial Bank Co. Ltd. (H Shares)	314,000		151,116
CITIC Securities Co. Ltd. (H Shares)	85,500		213,336
CSG Holding Co. Ltd. (B Shares)	70,300		52,302
CSR Corp. Ltd. (H Shares)	184,000		187,199
Datang International Power Generation Co. Ltd. (H Shares)	274,000		143,493
Dazhong Transport Group Co. Ltd. (B Shares)	74,100		51,244
Dongfang Electric Corp. Ltd. (H Shares)	33,200		56,177
Dongfeng Motor Group Co. Ltd. (H Shares)	288,000		445,380
Double Coin Holdings Ltd. (B Shares)	19,000		14,290
Foshan Electrical and Lighting Co. Ltd. (B Shares) (a)	21,900		20,989
Great Wall Motor Co. Ltd. (H Shares)	104,000		457,045
Guangdong Electric Power Development Co. Ltd. (B Shares)	44,500		29,267
Guangshen Railway Co. Ltd. (H Shares)	122,000		52,400
Guangzhou Automobile Group Co. Ltd. (H Shares)	226,000		201,078
Guangzhou Baiyunshan Pharma Health (H Shares)	20,000		68,354
Guangzhou R&F Properties Co. Ltd. (H Shares)	88,000		95,981
Guangzhou Shipyard International Ltd. (H Shares)	16,000		28,323
Haitong Securities Co. Ltd. (H Shares)	159,600		274,021
Harbin Electric Machinery Co. Ltd.(H Shares)	76,000		45,867
Huadian Energy Co. Ltd. (B Shares) (a)	19,200		7,870
Huadian Fuxin Energy Corp. Ltd. (H Shares)	168,000		96,658
Huadian Power International Corp. Ltd. (H Shares)	154,000		117,633
Huaneng Power International, Inc. (H Shares)	302,000		371,291
Huaneng Renewables Corp. Ltd. (H Shares)	324,000		116,366
Huishang Bank Corp. Ltd.	164,000		70,221
Industrial & Commercial Bank of China Ltd. (H Shares)	7,194,000		4,776,528
Inner Mongolia Eerduosi Resourses Co. Ltd. (B Shares)	44,400		35,609
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)	99,562		162,438
Jiangling Motors Corp. Ltd. (B Shares)	8,300		32,829
Jiangsu Expressway Co. Ltd. (H Shares)	118,000		131,810
Jiangxi Copper Co. Ltd. (H Shares)	143,000		254,008
Jinzhou Port Co. Ltd. (B Shares)	11,000		4,908
Lianhua Supermarket Holdings Ltd. (H Shares) (a)	43,000		21,342
Maanshan Iron & Steel Ltd. (H Shares) (a)	110,000		28,682
Metallurgical Corp. China Ltd. (H Shares)	269,000		73,864
New China Life Insurance Co. Ltd. (H Shares)	70,800		264,946
People's Insurance Co. of China Group (H Shares)	371,000		160,362
PetroChina Co. Ltd. (H Shares)	2,104,000		2,634,091
PICC Property & Casualty Co. Ltd. (H Shares)	302,008		554,015
Ping An Insurance (Group) Co. of China Ltd. (H Shares)	191,500		1,565,462
Shandong Chenming Paper Holdings Ltd. (B Shares)	156,600		77,603
Common Stocks - continued
	Shares		Value
China - continued
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)	168,000		$ 169,888
Shanghai Bailian Group Co. Ltd. (B Shares)	13,200		17,641
Shanghai Chlor Alkali Co. Ltd. (B Shares)	33,000		15,900
Shanghai Electric Group Co. Ltd. (H Shares)	276,000		138,281
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. Class H	40,000		144,012
Shanghai Haixin Group Co. Ltd. (B Shares) (a)	36,400		19,252
Shanghai Jin Jiang International Hotels (Group) Co. Ltd. (B Shares)	9,000		16,626
Shanghai Jin Jiang International Industrial Investment Co. Ltd. (B Shares)	40		38
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. (B Shares)	18,000		19,717
Shanghai Lujiazui Finance Trust Ltd. (B Shares)	41,700		71,037
Shanghai Pharma Holding Co. Ltd. (H Shares)	58,500		146,399
Shanghai Shangling Electric Appliances Co. Ltd. (B Shares)	23,900		49,923
Shanghai Waigaoqiao Free Trade Zone Development Co. Ltd. (B Shares)	15,917		29,504
Shanghai Zhenhua Port Machinery Co. Ltd. (B Shares) (a)	53,100		23,895
Shenzhen Chiwan Wharf Holding Ltd. (B Shares)	19,400		33,383
Shenzhen Expressway Co. (H Shares)	82,000		52,462
Sichuan Expressway Co. Ltd. (H Shares)	64,000		24,765
Sinopec Engineering Group Co. Ltd. (H Shares) (e)	113,500		109,774
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares)	329,000		102,006
Sinopharm Group Co. Ltd. (H Shares)	94,400		368,782
Sinotrans Ltd. (H Shares)	176,000		139,657
Tianjin Capital Environmental Protection Co. Ltd. (H Shares)	48,000		34,188
TravelSky Technology Ltd. (H Shares)	98,000		102,399
Tsingtao Brewery Co. Ltd. (H Shares)	38,000		280,903
Weichai Power Co. Ltd. (H Shares)	52,800		202,682
Weifu High-Technology Co. Ltd. (B Shares)	13,550		51,383
Wumart Stores, Inc. (H Shares)	51,000		44,179
Xinjiang Goldwind Science & Technology Co. Ltd. (H Shares)	37,000		66,405
Yantai Changyu Pioneer Wine Co. Ltd. (B Shares)	26,520		83,340
Yanzhou Coal Mining Co. Ltd. (H Shares)	178,000		150,516
Zhaojin Mining Industry Co. Ltd. (H Shares)	86,500		45,684
Zhejiang Expressway Co. Ltd. (H Shares)	140,000		141,171
Zhuzhou CSR Times Electric Co. Ltd. (H Shares)	50,500		217,169
Zijin Mining Group Co. Ltd. (H Shares)	632,000		161,831
ZTE Corp. (H Shares)	69,800		169,268
TOTAL CHINA			43,191,080
Colombia - 0.6%
Almacenes Exito SA	23,015		324,615
Common Stocks - continued
	Shares		Value
Colombia - continued
BanColombia SA sponsored ADR	76		$ 4,299
Cementos Argos SA	40,861		208,525
Cemex Latam Holdings SA (a)	16,342		145,827
Corporacion Financiera Colombiana SA	9,859		194,065
Corporacion Financiera Colombiana SA (RFD)	269		5,269
Ecopetrol SA	495,268		661,962
Grupo de Inversiones Suramerica SA	18,987		394,782
Interconexion Electrica SA ESP	35,796		153,101
Isagen SA	85,085		112,068
TOTAL COLOMBIA			2,204,513
Czech Republic - 0.2%
Ceske Energeticke Zavody A/S	15,665		433,280
Komercni Banka A/S	1,505		322,371
Telefonica Czech Rep A/S	8,941		99,887
TOTAL CZECH REPUBLIC			855,538
Egypt - 0.4%
Commercial International Bank SAE	79,964		546,883
Commercial International Bank SAE sponsored GDR	2,265		15,402
EFG-Hermes Holding SAE	50,089		118,602
Egyptian Kuwaiti Holding (a)	74,575		65,626
El Ezz Steel Rebars SAE (a)	18,109		40,675
Elsewedy Electric Co. (a)	5,895		37,513
Global Telecom Holding (a)	258,317		156,073
JUHAYNA Food Industries	42,128		54,206
Sidi Kerir Petrochemcials Co.	8,487		21,283
Talaat Moustafa Group Holding	114,167		167,816
Telecom Egypt SAE	31,783		60,454
TOTAL EGYPT			1,284,533
Hong Kong - 4.7%
Beijing Enterprises Holdings Ltd.	52,500		428,646
China Agri-Industries Holdings Ltd.	181,630		69,390
China Everbright International Ltd.	269,000		371,414
China Everbright Ltd.	82,000		159,506
China Merchants Holdings International Co. Ltd.	112,283		354,926
China Mobile Ltd.	519,000		6,457,667
China Overseas Land and Investment Ltd.	410,000		1,189,589
China Resources Enterprise Ltd.	122,000		290,176
China Resources Power Holdings Co. Ltd.	186,000		541,380
China South City Holdings Ltd.	216,000		97,831
China Taiping Insurance Group Ltd. (a)	100,800		216,388
China Taiping Insurance Group Ltd. rights 11/18/14 (a)	16,170		9,904
Common Stocks - continued
	Shares		Value
Hong Kong - continued
China Unicom Ltd.	450,000		$ 676,131
CITIC Pacific Ltd.	550,000		963,695
CNOOC Ltd.	1,586,000		2,483,500
CNOOC Ltd. sponsored ADR	200		31,274
CSPC Pharmaceutical Group Ltd.	278,000		256,113
Far East Horizon Ltd.	146,000		135,788
Fosun International Ltd.	137,000		162,504
Franshion Properties China Ltd.	358,000		84,510
Guangdong Investment Ltd.	222,000		292,024
Lenovo Group Ltd.	612,000		902,091
Poly Property Group Co. Ltd.	191,000		73,990
Shanghai Industrial Holdings Ltd.	47,000		144,916
Shenzhen Investment Ltd.	208,431		60,204
Sino-Ocean Land Holdings Ltd.	355,979		203,539
Sinotruk Hong Kong Ltd.	100,000		51,834
Yuexiu Property Co. Ltd.	612,000		112,872
TOTAL HONG KONG			16,821,802
Hungary - 0.2%
Magyar Telekom PLC (a)	34,595		47,841
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)	4,706		223,945
OTP Bank PLC	18,192		300,777
Richter Gedeon PLC	14,788		225,732
TOTAL HUNGARY			798,295
India - 11.0%
ABB Ltd. India	5,770		109,849
ACC Ltd.	6,498		158,619
Adani Enterprises Ltd.	26,480		208,931
Adani Ports & Special Economic Zone	50,352		234,043
Adani Power Ltd. (a)	70,324		54,962
Aditya Birla Nuvo Ltd.	5,501		150,658
Ambuja Cements Ltd.	69,154		256,141
Ashok Leyland Ltd. (a)	71,710		54,141
Asian Paints India Ltd.	30,158		322,198
Aurobindo Pharma Ltd.	13,102		206,625
Axis Bank Ltd. (a)	105,685		778,923
Bajaj Auto Ltd. (a)	7,341		312,015
Bajaj Holdings & Investment Ltd. (a)	2,657		60,836
Bank of Baroda	7,674		117,175
Bank of India	18,538		86,093
Bharat Electronics Ltd.	1,025		34,738
Common Stocks - continued
	Shares		Value
India - continued
Bharat Forge Ltd.	9,920		$ 131,183
Bharat Heavy Electricals Ltd.	58,383		243,912
Bharat Petroleum Corp. Ltd.	16,939		198,307
Bharti Airtel Ltd. (a)	129,324		840,342
Bharti Infratel Ltd.	46,657		223,601
Cadila Healthcare Ltd. (a)	5,335		123,721
Cairn India Ltd.	44,309		205,254
Canara Bank Ltd.	12,217		79,992
Castrol India Ltd.	13,016		87,682
Cipla Ltd.	33,156		359,996
Coal India Ltd.	64,334		387,929
Colgate-Palmolive (India)	3,568		98,203
Corporation Bank Ltd.	10,294		56,748
Crompton Greaves Ltd.	11,890		36,416
Cummins India Ltd.	9,505		113,142
Dabur India Ltd.	51,682		190,493
Divi's Laboratories Ltd. (a)	4,927		150,271
DLF Ltd. (a)	45,905		93,346
Dr. Reddy's Laboratories Ltd. (a)	8,445		435,307
Eicher Motors Ltd.	628		130,441
Essar Oil Ltd. (a)	14,081		27,655
Exide Industries Ltd.	20,175		51,725
GAIL India Ltd.	31,465		270,440
GlaxoSmithKline Consumer Healthcare Ltd.	1,322		119,034
GlaxoSmithKline Pharmaceuticals Ltd. (a)	2,825		126,888
Glenmark Pharmaceuticals Ltd.	10,258		120,090
GMR Infrastructure Ltd. (a)	141,537		49,821
Godrej Consumer Products Ltd.	11,499		181,553
Godrej Industries Ltd. (a)	11,285		55,406
Grasim Industries Ltd.	1,387		83,231
Great Eastern Shipping Co. Ltd.	6,235		40,430
HCL Technologies Ltd.	26,699		700,213
HDFC Bank Ltd.	82,559		1,338,724
Hero Motocorp Ltd.	8,080		403,469
Hindalco Industries Ltd. (a)	83,328		221,603
Hindustan Petroleum Corp. Ltd. (a)	7,939		67,797
Hindustan Unilever Ltd.	71,719		861,784
Hindustan Zinc Ltd.	22,148		61,768
Housing Development Finance Corp. Ltd.	155,868		2,807,064
ICICI Bank Ltd. (a)	56,731		1,506,605
IDBI Bank Ltd.	28,692		32,994
Idea Cellular Ltd. (a)	146,928		389,259
Common Stocks - continued
	Shares		Value
India - continued
IDFC Ltd. (a)	55,030		$ 143,199
Indian Oil Corp. Ltd. (a)	32,141		188,904
IndusInd Bank Ltd. (a)	17,361		210,413
Infosys Ltd.	47,357		3,139,069
ITC Ltd. (a)	190,825		1,103,333
Jaiprakash Associates Ltd. (a)	88,232		44,752
Jindal Steel & Power Ltd.	35,225		92,811
JSW Energy Ltd. (a)	34,499		45,050
JSW Steel Ltd.	11,870		243,764
Kotak Mahindra Bank Ltd.	31,517		574,235
Larsen & Toubro Ltd. (a)	22,659		610,643
Lupin Ltd.	9,167		212,247
Mahindra & Mahindra Financial Services Ltd.	29,321		140,073
Mahindra & Mahindra Ltd. (a)	30,555		649,654
Mangalore Refinery & Petrochemicals Ltd. (a)	13,688		13,082
Maruti Suzuki India Ltd. (a)	4,930		270,041
Motherson Sumi Systems Ltd.	20,626		141,223
Mphasis BFL Ltd.	12,284		80,220
Nestle India Ltd.	2,444		252,531
NHPC Ltd.	159,821		53,654
NMDC Ltd.	85,326		237,569
NTPC Ltd.	203,158		496,129
Oil & Natural Gas Corp. Ltd.	205,799		1,346,758
Oil India Ltd.	11,941		122,879
Oracle Finance Services Software Ltd. (a)	1,958		109,388
Oriental Bank of Commerce (a)	5,166		23,999
Piramal Enterprises Ltd. (a)	8,406		110,359
Power Finance Corp. Ltd.	34,268		157,547
Power Grid Corp. of India Ltd.	163,348		387,574
Punjab National Bank (a)	4,147		63,398
Ranbaxy Laboratories Ltd. (a)	11,964		123,342
Reliance Capital Ltd. (a)	12,738		98,468
Reliance Communication Ltd. (a)	104,739		180,857
Reliance Industries Ltd.	159,028		2,580,845
Reliance Infrastructure Ltd. (a)	11,957		123,993
Reliance Power Ltd. (a)	66,366		82,431
Rural Electrification Corp. Ltd.	35,214		172,977
Sesa Sterlite Ltd.	135,671		566,056
Shree Cement Ltd.	1,088		160,733
Shriram Transport Finance Co. Ltd.	13,164		203,643
Siemens India Ltd.	8,899		126,483
State Bank of India	15,240		670,658
Common Stocks - continued
	Shares		Value
India - continued
Steel Authority of India Ltd.	89,268		$ 120,820
Sun Pharmaceutical Industries Ltd.	76,887		1,058,107
Sun TV Ltd.	6,352		33,782
Tata Chemicals Ltd. (a)	3,139		21,281
Tata Communications Ltd.	5,874		38,493
Tata Consultancy Services Ltd.	46,960		1,998,031
Tata Motors Ltd. (a)	97,228		849,445
Tata Power Co. Ltd. (a)	101,826		155,436
Tata Steel Ltd.	25,693		205,070
Tech Mahindra Ltd.	11,399		467,265
Titan Co. Ltd. (a)	14,520		95,381
Torrent Power Ltd. (a)	8,080		21,641
Ultratech Cemco Ltd. (a)	6,843		283,879
Union Bank of India	10,272		37,703
Unitech Ltd. (a)	115,110		38,404
United Breweries Ltd.	6,396		72,747
United Spirits Ltd. (a)	5,754		258,845
Wipro Ltd.	49,858		460,546
Wockhardt Ltd.	2,417		29,822
Yes Bank Ltd.	19,236		217,823
Zee Entertainment Enterprises Ltd.	47,447		265,917
TOTAL INDIA			39,935,208
Indonesia - 2.7%
PT Adaro Energy Tbk	1,213,500		114,115
PT Aneka Tambang Tbk	213,000		17,107
PT Astra Agro Lestari Tbk	28,500		55,431
PT Astra International Tbk	2,028,900		1,137,627
PT Bank Central Asia Tbk	1,228,600		1,326,324
PT Bank Danamon Indonesia Tbk Series A	301,400		105,113
PT Bank Mandiri (Persero) Tbk	941,900		808,954
PT Bank Negara Indonesia (Persero) Tbk	762,800		375,958
PT Bank Rakyat Indonesia Tbk	1,078,700		988,517
PT Charoen Pokphand Indonesia Tbk	753,400		262,013
PT Global Mediacom Tbk	435,600		70,698
PT Gudang Garam Tbk	47,100		225,395
PT Indo Tambangraya Megah Tbk	38,000		66,675
PT Indocement Tunggal Prakarsa Tbk	130,400		258,451
PT Indofood CBP Sukses Makmur Tbk	114,500		104,709
PT Indofood Sukses Makmur Tbk	426,200		240,734
PT Indosat Tbk (a)	101,000		30,638
PT International Nickel Indonesia Tbk	187,500		58,760
Common Stocks - continued
	Shares		Value
Indonesia - continued
PT Jasa Marga Tbk	187,200		$ 98,421
PT Kalbe Farma Tbk	2,043,500		288,527
PT Media Nusantara Citra Tbk	508,200		117,816
PT Perusahaan Gas Negara Tbk Series B	1,075,200		529,633
PT Semen Gresik (Persero) Tbk	290,400		381,456
PT Surya Citra Media Tbk	385,500		107,909
PT Tambang Batubara Bukit Asam Tbk	78,300		84,005
PT Telkomunikasi Indonesia Tbk Series B	5,042,100		1,148,326
PT Tower Bersama Infrastructure Tbk	185,600		136,712
PT Unilever Indonesia Tbk	111,400		280,479
PT United Tractors Tbk	152,200		231,191
PT XL Axiata Tbk	272,600		124,660
TOTAL INDONESIA			9,776,354
Malaysia - 4.6%
AirAsia Bhd	119,700		90,954
Alliance Financial Group Bhd	104,200		151,811
AMMB Holdings Bhd	174,100		358,821
Astro Malaysia Holdings Bhd	157,900		158,412
Axiata Group Bhd	497,700		1,066,513
Berjaya Sports Toto Bhd	99,569		109,248
British American Tobacco (Malaysia) Bhd	14,200		300,128
Bumi Armada Bhd	404,700		193,187
Bumiputra-Commerce Holdings Bhd	504,666		996,156
DiGi.com Bhd	366,800		690,215
Felda Global Ventures Holdings Bhd	191,200		212,635
Gamuda Bhd	200,100		311,683
Genting Bhd	217,600		644,866
Genting Malaysia Bhd	302,700		395,707
Hong Leong Bank Bhd	56,100		249,316
Hong Leong Credit Bhd	22,300		122,658
IHH Healthcare Bhd	277,200		416,995
IJM Corp. Bhd	119,100		250,312
IOI Corp. Bhd	363,400		540,064
IOI Properties Group Sdn Bhd	171,166		143,098
KLCC Property Holdings Bhd	41,800		88,622
Kuala Lumpur Kepong Bhd	53,200		371,804
Lafarge Malaysia Bhd	43,900		139,786
Malayan Banking Bhd	439,564		1,296,277
Malaysia Airports Holdings Bhd	73,222		160,685
Malaysia Marine and Heavy Engineering Sdn Bhd	32,800		22,617
Maxis Bhd	263,800		540,425
Common Stocks - continued
	Shares		Value
Malaysia - continued
MISC Bhd	147,300		$ 307,195
MMC Corp. Bhd	75,300		60,431
Parkson Holdings Bhd	54,606		41,841
Petronas Chemicals Group Bhd	289,200		540,234
Petronas Dagangan Bhd	28,200		175,060
Petronas Gas Bhd	78,000		534,650
PPB Group Bhd	60,800		292,305
Public Bank Bhd	310,500		1,749,838
RHB Capital Bhd	70,613		188,815
SapuraKencana Petroleum Bhd	385,600		399,584
Sime Darby Bhd	305,743		899,420
SP Setia Bhd	71,972		72,969
Telekom Malaysia Bhd	106,193		232,420
Tenaga Nasional Bhd	137,100		556,793
UEM Land Holdings Bhd	170,200		97,264
UMW Holdings Bhd	66,200		235,252
YTL Corp. Bhd	541,686		273,329
YTL Power International Bhd	275,070		132,927
TOTAL MALAYSIA			16,813,322
Malta - 0.1%
Brait SA	32,414		243,566
Mexico - 5.8%
Alfa SA de CV Series A	283,300		902,731
Alpek SA de CV	31,800		56,250
America Movil S.A.B. de CV Series L	2,979,200		3,634,884
CEMEX S.A.B. de CV unit	1,215,452		1,497,399
Coca-Cola FEMSA S.A.B. de CV Series L	41,800		440,993
Compartamos S.A.B. de CV	114,600		255,220
Concentradora Fibra Danhos SA de CV	19,200		48,676
Controladora Commercial Mexicana S.A.B. de CV unit	41,700		163,378
Embotelladoras Arca S.A.B. de CV	26,100		168,079
Fibra Uno Administracion SA de CV	226,500		787,168
Fomento Economico Mexicano S.A.B. de CV unit	215,800		2,075,590
Genomma Lab Internacional SA de CV (a)	75,800		191,326
Gruma S.A.B. de CV Series B	15,800		173,989
Grupo Aeroportuario del Pacifico SA de CV Series B	35,200		239,489
Grupo Aeroportuario del Sureste SA de CV Series B	23,200		310,143
Grupo Bimbo S.A.B. de CV Series A	185,400		542,312
Grupo Carso SA de CV Series A1	49,200		281,106
Grupo Comercial Chedraui S.A.B. de CV	29,300		103,068
Grupo Elektra SA de CV	3,140		119,386
Common Stocks - continued
	Shares		Value
Mexico - continued
Grupo Financiero Banorte S.A.B. de CV Series O	228,100		$ 1,463,329
Grupo Financiero Inbursa S.A.B. de CV Series O	208,000		624,637
Grupo Financiero Santander Mexico S.A.B. de CV	151,300		403,130
Grupo Lala S.A.B. de CV	52,200		119,779
Grupo Mexico SA de CV Series B	392,407		1,348,309
Grupo Sanborns SA de CV	34,200		54,730
Grupo Televisa SA de CV	263,400		1,903,580
Industrias Bachoco SA de CV Series B	15,700		79,863
Industrias CH SA de CV (a)	17,000		92,106
Industrias Penoles SA de CV	12,125		272,119
Infraestructura Energetica Nova S.A.B. de CV	18,400		112,617
Kimberly-Clark de Mexico SA de CV Series A	82,300		190,498
Mexichem S.A.B. de CV	107,627		440,299
Minera Frisco S.A.B. de CV (a)	45,200		80,423
OHL Mexico S.A.B. de CV (a)	64,300		180,969
Organizacion Soriana S.A.B. de CV Series B	27,400		89,548
Promotora y Operadora de Infraestructura S.A.B. de CV (a)	19,400		266,504
Wal-Mart de Mexico SA de CV Series V	561,600		1,298,254
TOTAL MEXICO			21,011,881
Morocco - 0.0%
Douja Promotion Groupe Addoha SA	14,643		81,281
Pakistan - 0.2%
Fauji Fertilizer Co. Ltd.	65,265		74,803
MCB Bank Ltd.	82,761		225,922
National Bank of Pakistan	46,662		27,267
Oil & Gas Development Co. Ltd.	61,317		136,045
Pakistan Petroleum Ltd.	38,913		77,383
TOTAL PAKISTAN			541,420
Peru - 0.1%
Compania de Minas Buenaventura SA	337		3,100
Compania de Minas Buenaventura SA sponsored ADR	20,705		190,486
TOTAL PERU			193,586
Philippines - 1.6%
Aboitiz Equity Ventures, Inc.	208,170		240,830
Aboitiz Power Corp.	176,800		161,229
Alliance Global Group, Inc.	413,500		232,577
Ayala Corp.	23,430		359,394
Ayala Land, Inc.	551,400		411,194
Bank of the Philippine Islands (BPI)	159,512		337,329
Common Stocks - continued
	Shares		Value
Philippines - continued
BDO Unibank, Inc.	146,082		$ 318,226
Bloomberry Resorts Corp. (a)	282,000		97,359
DMCI Holdings, Inc.	421,350		151,915
Emperador, Inc.	196,100		46,362
Globe Telecom, Inc.	3,100		116,164
GT Capital Holdings, Inc.	7,160		160,881
International Container Terminal Services, Inc.	85,790		221,229
JG Summit Holdings, Inc.	208,470		295,659
Jollibee Food Corp.	43,140		188,020
LT Group, Inc.	246,300		77,971
Manila Electric Co.	30,800		179,445
Metropolitan Bank & Trust Co.	112,755		206,886
Petron Corp.	243,400		63,920
Philippine Long Distance Telephone Co.	8,420		587,575
PNOC Energy Development Corp.	705,500		120,786
San Miguel Corp.	67,710		109,264
SM Investments Corp.	31,767		553,560
SM Prime Holdings, Inc.	751,900		292,284
Top Frontier Investment Holdings, Inc.	4,146		10,128
Travellers International Hotel Group, Inc.	159,600		34,516
Universal Robina Corp.	86,680		358,328
TOTAL PHILIPPINES			5,933,031
Poland - 1.8%
Alior Bank SA (a)	4,396		97,593
Bank Handlowy w Warszawie SA	3,120		105,380
Bank Millennium SA	38,550		95,537
Bank Polska Kasa Opieki SA	13,184		689,076
Bank Zachodni WBK SA	2,892		327,456
BRE Bank SA	1,222		180,836
Cyfrowy Polsat SA	21,698		165,957
ENEA SA	21,727		103,176
Energa SA	31,163		231,505
Eurocash SA	7,418		73,073
Getin Noble Bank SA (a)	109,511		84,507
ING Bank Slaski SA	3,045		126,073
Jastrzebska Spolka Weglowa SA (a)	3,819		32,814
KGHM Polska Miedz SA (Bearer)	14,099		543,573
LPP SA	130		387,727
Polish Oil & Gas Co. SA	181,433		270,860
Polska Grupa Energetyczna SA	73,731		483,618
Polski Koncern Naftowy Orlen SA	30,871		384,181
Common Stocks - continued
	Shares		Value
Poland - continued
Powszechna Kasa Oszczednosci Bank SA	87,145		$ 968,623
Powszechny Zaklad Ubezpieczen SA	5,522		827,653
Synthos SA	55,272		68,571
Tauron Polska Energia SA	111,902		174,696
Telekomunikacja Polska SA	61,620		184,716
TOTAL POLAND			6,607,201
Russia - 4.8%
Aeroflot - Russian Airlines (a)	29,070		25,819
E.ON Russia JSC (a)	1,267,859		73,666
Federal Grid Co. of Unified Energy System (a)	24,221,526		30,191
Gazprom OAO sponsored ADR (Reg. S)	548,999		3,638,765
Inter Rao Ues JSC (a)	180,564,990		40,261
LSR Group OJSC GDR (Reg. S)	19,286		56,315
LUKOIL Oil Co. sponsored ADR (United Kingdom)	48,250		2,369,075
Magnit OJSC GDR (Reg. S)	27,842		1,865,414
Magnitogorsk Iron & Steel Works OJSC unit (a)	5,623		15,913
Megafon OJSC GDR	9,195		215,163
Mobile TeleSystems OJSC sponsored ADR	49,547		708,522
Moscow Exchange MICEX-RTS OAO	136,640		184,261
Norilsk Nickel OJSC ADR	47,885		891,140
NOVATEK OAO GDR (Reg. S)	11,229		1,205,995
Novolipetsk Steel OJSC GDR (Reg. S)	9,656		123,597
Pharmstandard OJSC unit (a)	3,498		43,725
PhosAgro OJSC GDR (Reg. S)	7,172		76,740
Rosneft Oil Co. OJSC GDR (Reg. S)	114,432		637,386
Rostelecom sponsored ADR	17,751		263,247
RusHydro JSC sponsored ADR	119,773		199,542
Russian Grids OAO (a)	1,422,195		17,092
Sberbank (Savings Bank of the Russian Federation) (a)	39,030		69,176
Sberbank (Savings Bank of the Russian Federation) sponsored ADR	259,798		1,971,867
Severstal GDR (Reg. S)	16,078		169,944
Sistema JSFC sponsored GDR	12,948		104,555
Surgutneftegas sponsored ADR	72,321		475,872
Tatneft OAO sponsored ADR	23,843		849,526
TMK OAO GDR (Reg. S)	4,086		31,993
Uralkali OJSC GDR (Reg. S)	22,168		396,142
VTB Bank OJSC sponsored GDR (Reg. S)	256,761		485,022
TOTAL RUSSIA			17,235,926
South Africa - 9.0%
Adcock Ingram Holdings Ltd. (a)	13,517		60,662
Common Stocks - continued
	Shares		Value
South Africa - continued
Aeci Ltd.	11,436		$ 128,101
African Bank Investments Ltd. (a)	116,009		0
African Rainbow Minerals Ltd.	8,690		107,071
Anglo American Platinum Ltd. (a)	5,839		184,205
AngloGold Ashanti Ltd. (a)	39,528		330,333
ArcelorMittal South Africa Ltd. (a)	13,816		40,785
Aspen Pharmacare Holdings Ltd.	30,465		1,086,711
Assore Ltd.	3,184		59,089
Attacq Ltd. (a)	43,951		85,633
Aveng Ltd. (a)	35,748		65,664
AVI Ltd.	30,636		199,708
Barclays Africa Group Ltd.	32,852		518,734
Barloworld Ltd.	20,854		181,073
Bidvest Group Ltd.	32,389		890,850
Capital Property Fund	145,768		168,899
Capitec Bank Holdings Ltd.	5,966		157,375
Clicks Group Ltd.	23,831		162,262
Coronation Fund Managers Ltd.	26,514		229,569
DataTec Ltd.	20,360		102,448
Discovery Holdings Ltd.	29,179		265,421
Exxaro Resources Ltd.	13,322		138,900
FirstRand Ltd.	326,547		1,397,404
Foschini Ltd.	19,796		223,702
Fountainhead Property Trust	38,899		28,567
Gold Fields Ltd.	77,604		251,642
Grindrod Ltd.	49,591		101,612
Growthpoint Properties Ltd.	207,093		502,254
Harmony Gold Mining Co. Ltd. (a)	30,915		49,940
Illovo Sugar Ltd.	21,553		51,588
Impala Platinum Holdings Ltd. (a)	50,653		368,724
Imperial Holdings Ltd.	16,823		289,719
Investec Ltd.	24,292		221,782
JD Group Ltd. (a)	9,706		21,683
JSE Ltd.	8,453		82,309
Kumba Iron Ore Ltd.	5,951		148,617
Liberty Holdings Ltd.	9,434		109,173
Life Healthcare Group Holdings Ltd.	94,259		356,364
Massmart Holdings Ltd.	10,787		116,508
Mediclinic International Ltd.	41,750		372,844
MMI Holdings Ltd.	99,113		253,314
Mondi Ltd.	11,553		193,169
Mr Price Group Ltd.	22,172		458,627
Common Stocks - continued
	Shares		Value
South Africa - continued
MTN Group Ltd.	175,119		$ 3,873,980
Murray & Roberts Holdings Ltd.	37,902		77,833
Nampak Ltd.	59,105		240,980
Naspers Ltd. Class N	36,052		4,486,631
Nedbank Group Ltd.	19,854		432,442
Netcare Ltd.	149,556		452,204
Northam Platinum Ltd. (a)	29,979		92,331
Omnia Holdings Ltd.	6,394		127,535
Pick 'n Pay Holdings Ltd.	21,265		44,652
Pick 'n Pay Stores Ltd.	22,671		109,617
Pretoria Portland Cement Co. Ltd.	40,407		108,438
PSG Group Ltd.	5,486		57,199
Remgro Ltd.	48,663		1,116,142
Reunert Ltd.	14,533		76,699
RMB Holdings Ltd.	65,671		364,444
Royal Bafokeng Holdings (Pty) Ltd. (a)	4,355		23,098
Sanlam Ltd.	175,817		1,110,239
Santam Ltd.	3,243		60,069
Sappi Ltd. (a)	52,267		206,466
Sasol Ltd.	55,141		2,753,479
Shoprite Holdings Ltd.	43,657		632,427
Sibanye Gold Ltd.	67,594		127,359
Spar Group Ltd.	18,123		211,944
Standard Bank Group Ltd.	120,744		1,518,913
Steinhoff International Holdings Ltd.	247,741		1,266,810
Sun International Ltd.	9,109		101,993
Telkom SA Ltd. (a)	30,476		161,806
Tiger Brands Ltd.	15,082		453,441
Tongaat Hulett Ltd.	11,187		147,676
Truworths International Ltd.	40,480		277,091
Vodacom Group Ltd.	32,003		388,310
Wilson Bayly Holmes-Ovcon Ltd.	4,254		50,143
Woolworths Holdings Ltd.	99,971		710,508
TOTAL SOUTH AFRICA			32,625,934
Taiwan - 13.3%
Acer, Inc. (a)	247,000		169,471
Advanced Semiconductor Engineering, Inc.	620,940		747,906
Advantech Co. Ltd.	33,784		234,685
Asia Cement Corp.	236,153		304,386
ASUSTeK Computer, Inc.	70,000		713,599
AU Optronics Corp.	883,000		420,157
Common Stocks - continued
	Shares		Value
Taiwan - continued
Capital Securities Corp.	210,195		$ 67,852
Catcher Technology Co. Ltd.	73,000		615,286
Cathay Financial Holding Co. Ltd.	793,641		1,306,171
Cathay Real Estate Development Co. Ltd.	85,000		44,263
Chang Hwa Commercial Bank	339,293		213,588
Cheng Shin Rubber Industry Co. Ltd.	186,937		435,926
Cheng Uei Precision Industries Co. Ltd.	36,109		60,205
Chicony Electronics Co. Ltd.	55,485		159,533
China Airlines Ltd. (a)	186,043		72,722
China Development Finance Holding Corp.	1,438,800		461,765
China Motor Co. Ltd.	62,000		56,422
China Steel Corp.	1,252,204		1,078,618
Chinatrust Financial Holding Co. Ltd.	1,487,516		1,041,540
Chunghwa Telecom Co. Ltd.	376,000		1,145,399
Compal Electronics, Inc.	400,000		295,186
Delta Electronics, Inc.	203,000		1,215,938
E.SUN Financial Holdings Co. Ltd.	684,952		433,161
EPISTAR Corp.	80,000		144,439
Eternal Materials Co. Ltd.	74,160		73,345
EVA Airways Corp. (a)	187,900		109,919
Evergreen Marine Corp. (Taiwan) (a)	156,000		92,063
Far Eastern International Bank	154,348		51,954
Far Eastern Textile Ltd.	392,907		412,514
Far EasTone Telecommunications Co. Ltd.	161,000		355,749
Feng Hsin Iron & Steel Co.	52,000		63,937
First Financial Holding Co. Ltd.	753,001		462,881
Formosa Chemicals & Fibre Corp.	440,760		1,024,674
Formosa Petrochemical Corp.	190,000		445,296
Formosa Plastics Corp.	490,520		1,131,024
Formosa Taffeta Co. Ltd.	96,000		96,914
Foxconn Technology Co. Ltd.	106,325		283,251
Fubon Financial Holding Co. Ltd.	728,334		1,231,090
Giant Manufacturing Co. Ltd.	29,000		234,446
Hon Hai Precision Industry Co. Ltd. (Foxconn)	1,266,041		4,000,772
Hotai Motor Co. Ltd.	40,000		584,412
HTC Corp. (a)	76,000		335,993
Hua Nan Financial Holdings Co. Ltd.	686,698		406,256
Innolux Corp.	904,347		412,638
Inotera Memories, Inc. (a)	256,000		395,025
Inventec Corp.	283,865		197,210
Largan Precision Co. Ltd.	10,000		701,398
Lite-On Technology Corp.	213,010		298,476
Common Stocks - continued
	Shares		Value
Taiwan - continued
Macronix International Co. Ltd. (a)	296,101		$ 66,433
MediaTek, Inc.	146,292		2,086,225
Mega Financial Holding Co. Ltd.	1,007,098		833,982
Nan Ya Plastics Corp.	570,860		1,179,593
Nan Ya Printed Circuit Board Corp. (a)	19,000		26,335
Novatek Microelectronics Corp.	57,000		294,575
Oriental Union Chemical Corp.	61,300		46,300
Pegatron Corp.	168,000		305,702
Pou Chen Corp.	269,000		296,161
President Chain Store Corp.	57,000		426,333
President Securities Corp.	85,500		44,658
Quanta Computer, Inc.	266,000		668,615
Realtek Semiconductor Corp.	43,401		143,637
Shin Kong Financial Holding Co. Ltd.	647,145		196,254
Siliconware Precision Industries Co. Ltd.	285,000		405,923
Sinopac Holdings Co.	920,338		398,965
Synnex Technology International Corp.	125,000		175,458
Taishin Financial Holdings Co. Ltd.	840,060		400,112
Taiwan Business Bank	365,937		109,914
Taiwan Cement Corp.	316,000		482,644
Taiwan Cooperative Financial Holding Co. Ltd.	632,243		337,634
Taiwan Fertilizer Co. Ltd.	88,000		155,879
Taiwan Glass Industry Corp.	137,475		106,486
Taiwan Mobile Co. Ltd.	167,900		543,973
Taiwan Secom Co.	26,390		69,867
Taiwan Semiconductor Manufacturing Co. Ltd.	2,388,000		10,335,530
TECO Electric & Machinery Co. Ltd.	174,000		193,304
Ton Yi Industrial Corp.	55,000		32,650
Transcend Information, Inc.	25,000		84,337
U-Ming Marine Transport Corp.	49,000		76,716
Unified-President Enterprises Corp.	454,676		780,591
Unimicron Technology Corp.	123,000		94,532
United Microelectronics Corp.	1,180,000		523,102
Vanguard International Semiconductor Corp.	73,000		109,503
Walsin Lihwa Corp. (a)	285,000		94,470
Wan Hai Lines Ltd.	103,000		76,060
Wistron Corp.	240,831		252,626
Yang Ming Marine Transport Corp. (a)	166,900		76,284
Yuanta Financial Holding Co. Ltd.	980,184		492,974
Yuen Foong Yu Paper Manufacturing Co.	120,000		49,668
Common Stocks - continued
	Shares		Value
Taiwan - continued
Yulon Motor Co. Ltd.	90,000		$ 132,572
Yulon Nissan Motor Co. Ltd.	2,000		18,725
TOTAL TAIWAN			48,064,757
Thailand - 2.9%
Advanced Info Service PCL (For. Reg.)	119,500		877,174
Airports of Thailand PCL (For. Reg.)	40,700		302,332
Bangkok Bank PCL (For. Reg.)	47,600		295,170
Bangkok Dusit Medical Services PCL (For. Reg.)	323,900		183,876
Bangkok Life Assurance PCL	39,340		69,762
Bank of Ayudhya PCL	155,700		228,115
Banpu PCL (For. Reg.)	92,900		80,577
BEC World PCL (For. Reg.)	99,200		146,953
Berli Jucker PCL (For. Reg)	45,400		63,421
Big C Supercenter PCL	17,600		125,809
Big C Supercenter PCL (For. Reg.)	16,900		120,805
BTS Group Holdings PCL	609,900		192,971
C.P. ALL PCL (For. Reg.)	430,700		601,486
Central Pattana PCL (For. Reg.)	133,600		198,016
Charoen Pokphand Foods PCL (For. Reg.)	315,600		302,837
Delta Electronics PCL (For. Reg.)	46,000		91,301
Electricity Generating PCL (For. Reg.)	22,200		117,222
Glow Energy PCL (For. Reg.)	38,900		119,550
Home Product Center PCL (For. Reg.)	334,912		95,579
Indorama Ventures PCL:
warrants 8/24/17 (a)	12,420		1,368
warrants 8/24/18 (a)	9,554		862
(For. Reg.)	124,200		91,113
Intouch Holdings PCL	38,800		88,088
Intouch Holdings PCL (For. Reg)	106,900		242,696
IRPC PCL (For. Reg.)	883,800		92,753
Kasikornbank PCL (For. Reg.)	118,000		854,645
Krung Thai Bank PCL (For. Reg.)	345,370		247,028
Land & House PCL	63,000		19,718
Land & House PCL (For. Reg.)	246,300		77,087
Minor International PCL:
warrants 10/16/17 (a)	7,235		1,380
(For. Reg.)	144,700		154,318
PTT Exploration and Production PCL (For. Reg.)	135,939		610,980
PTT Global Chemical PCL (For. Reg.)	165,839		314,682
PTT PCL (For. Reg.)	85,600		968,457
Ratchaburi Electric Generating Holding PCL (For. Reg.)	32,800		61,193
Common Stocks - continued
	Shares		Value
Thailand - continued
Siam Cement PCL (For. Reg.)	30,700		$ 426,107
Siam City Cement PCL (For. Reg.)	6,500		83,796
Siam Commercial Bank PCL (For. Reg.)	158,400		863,495
Thai Airways International PCL (For. Reg.) (a)	42,500		18,648
Thai Oil PCL (For. Reg.)	78,100		107,125
Thai Union Frozen Products PCL (For. Reg.)	46,180		105,592
TMB PCL (For. Reg.)	2,173,700		205,422
Total Access Communication PCL	46,600		148,093
Total Access Communication PCL (For. Reg.)	26,200		83,263
True Corp. PCL (For. Reg.) (a)	904,248		327,704
TOTAL THAILAND			10,408,569
Turkey - 1.8%
Akbank T.A.S.	161,445		583,269
Anadolu Efes Biracilik Ve Malt Sanayii A/S (a)	19,816		231,803
Arcelik A/S	19,562		120,136
Aselsan A/S	11,566		52,557
Bim Birlesik Magazalar A/S JSC	21,996		502,732
Coca-Cola Icecek Sanayi A/S	6,210		141,654
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S	182,939		205,767
Enka Insaat ve Sanayi A/S	40,742		98,617
Eregli Demir ve Celik Fabrikalari T.A.S.	138,683		288,890
Ford Otomotiv Sanayi A/S	6,316		80,703
Haci Omer Sabanci Holding A/S	80,650		368,298
Koc Holding A/S	63,817		325,883
Koza Altin Isletmeleri A/S	3,489		22,526
TAV Havalimanlari Holding A/S	14,950		125,444
Tofas Turk Otomobil Fabrikasi A/S	11,852		74,387
Tupras Turkiye Petrol Rafinelleri A/S	11,670		253,336
Turk Hava Yollari AO (a)	55,904		183,358
Turk Sise ve Cam Fabrikalari A/S	57,378		87,255
Turk Telekomunikasyon A/S	52,108		149,808
Turkcell Iletisim Hizmet A/S (a)	76,889		446,977
Turkiye Garanti Bankasi A/S	212,345		828,760
Turkiye Halk Bankasi A/S	64,564		431,366
Turkiye Is Bankasi A/S Series C	143,176		358,157
Turkiye Vakiflar Bankasi TAO	100,629		216,411
Ulker Biskuvi Sanayi A/S	15,704		115,873
Yapi ve Kredi Bankasi A/S	87,375		191,445
TOTAL TURKEY			6,485,412
Common Stocks - continued
	Shares		Value
United Arab Emirates - 1.0%
Abu Dhabi Commercial Bank PJSC (a)	148,036		$ 318,400
Air Arabia PJSC (a)	217,021		77,993
Aldar Properties PJSC (a)	307,739		268,109
Arabtec Holding Co. (a)	200,159		230,513
Dana Gas PJSC (a)	266,990		43,614
Deyaar Development PJSC (a)	135,258		40,139
DP World Ltd.	15,867		304,012
Dubai Financial Market PJSC (a)	148,541		111,214
Dubai Investments Ltd. (a)	80,162		67,002
Dubai Islamic Bank Pakistan Ltd. (a)	71,634		147,442
Emaar Malls Group PJSC (a)	200,000		174,789
Emaar Properties PJSC (a)	356,435		970,419
First Gulf Bank PJSC	95,667		472,735
Union National Bank (a)	107,331		201,045
Union Properties Ltd. (a)	81,922		39,478
Waha Capital PJSC (a)	87,715		65,673
TOTAL UNITED ARAB EMIRATES			3,532,577
TOTAL COMMON STOCKS (Cost $313,286,676)		333,109,569
Nonconvertible Preferred Stocks - 5.0%

Brazil - 4.5%
AES Tiete SA (PN) (non-vtg.)	9,400		70,977
Banco Bradesco SA (PN)	204,340		3,077,593
Bradespar SA (PN)	23,800		160,786
Braskem SA (PN-A)	15,400		112,677
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)	24,800		93,879
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN)	14,600		612,188
Companhia de Gas de Sao Paulo	1,000		19,714
Companhia de Transmissao de Energia Eletrica Paulista (PN)	2,999		46,560
Companhia Energetica de Minas Gerais (CEMIG) (PN)	71,995		413,450
Companhia Energetica de Sao Paulo Series B	18,300		180,423
Companhia Paranaense de Energia-Copel (PN-B)	8,900		124,311
Gerdau SA (PN)	79,400		355,360
Itau Unibanco Holding SA	275,431		4,084,947
Itausa-Investimentos Itau SA (PN)	315,422		1,258,938
Lojas Americanas SA (PN)	52,070		307,221
Metalurgica Gerdau SA (PN)	28,600		154,663
Oi SA (PN)	337,900		177,275
Nonconvertible Preferred Stocks - continued
	Shares		Value
Brazil - continued
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)	431,400		$ 2,660,233
Suzano Papel e Celulose SA	27,800		117,353
Telefonica Brasil SA	29,800		608,652
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.) (a)	39,200		90,173
Vale SA (PN-A)	188,300		1,637,623
TOTAL BRAZIL			16,364,996
Chile - 0.1%
Embotelladora Andina SA Class B	23,994		75,353
Sociedad Quimica y Minera de Chile SA (PN-B)	8,885		206,985
TOTAL CHILE			282,338
Colombia - 0.3%
BanColombia SA (PN)	44,059		619,289
Grupo Aval Acciones y Valores SA	356,511		241,717
Grupo de Inversiones Suramerica SA	13,195		266,016
TOTAL COLOMBIA			1,127,022
India - 0.0%
Zee Entertainment Enterprises Ltd.	665,091		9,335
Russia - 0.1%
AK Transneft OAO (a)	155		338,720
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $20,855,618)		18,122,411

Government Obligations - 0.3%
	Principal Amount
United States of America - 0.3%
U.S. Treasury Bills, yield at date of purchase 0.05% 3/5/15 (f) (Cost $999,817)	$ 1,000,000	999,856

Money Market Funds - 2.0%
	Shares		Value
Fidelity Cash Central Fund, 0.11% (b)	6,396,361		$ 6,396,361
Fidelity Securities Lending Cash Central Fund, 0.11% (b)(c)	741,120		741,120
TOTAL MONEY MARKET FUNDS (Cost $7,137,481)		7,137,481
TOTAL INVESTMENT PORTFOLIO - 99.3% (Cost $342,279,592)			359,369,317
NET OTHER ASSETS (LIABILITIES) - 0.7%			2,473,020
NET ASSETS - 100%		$ 361,842,337

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
216 NYSE E-mini MSCI EAFE Index Contracts (United States)	Dec. 2014	$ 10,946,880	$ 287,573

The face value of futures purchased as a percentage of net assets is 3%

Legend

(a) Non-income producing

(d) Security or a portion of the security is on loan at period end.

(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 $459,934.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 6,161
Fidelity Securities Lending Cash Central Fund	27,962
Total	$ 34,123

Other Information

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 26,857,128	$ 13,750,801	$ 13,106,327	$ -
Consumer Staples	29,766,150	18,905,417	10,860,733	-
Energy	38,999,953	18,063,681	20,936,272	-
Financials	105,353,631	43,274,884	62,078,747	-
Health Care	8,690,769	3,011,272	5,679,497	-
Industrials	22,948,406	7,630,621	14,885,094	432,691
Information Technology	45,192,020	1,492,408	43,699,612	-
Materials	29,206,542	14,684,171	14,483,662	38,709
Telecommunication Services	30,371,113	11,474,419	18,896,694	-
Utilities	13,846,268	6,007,601	7,838,667	-
Government Obligations	999,856	-	999,856	-
Money Market Funds	7,137,481	7,137,481	-	-
Total Investments in Securities:	$ 359,369,317	$ 145,432,756	$ 213,465,161	$ 471,400
Derivative Instruments:
Assets
Futures Contracts	$ 287,573	$ 287,573	$ -	$ -

Transfers	Total
Level 1 to Level 2	$ 95,812,557
Level 2 to Level 1	$ 0

Value of Derivative Instruments

Primary Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts (a)	$ 287,573	$ -
Total Value of Derivatives	$ 287,573	$ -

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Emerging Markets Index

Financial Statements

Statement of Assets and Liabilities

	October 31, 2014

Assets
Investment in securities, at value (including securities loaned of $676,328) - See accompanying schedule: Unaffiliated issuers (cost $335,142,111)	$ 352,231,836
Fidelity Central Funds (cost $7,137,481)	7,137,481
Total Investments (cost $342,279,592)		$ 359,369,317
Foreign currency held at value (cost $2,779,358)		2,776,996
Receivable for fund shares sold		985,891
Dividends receivable		222,154
Distributions receivable from Fidelity Central Funds		4,349
Receivable for daily variation margin for derivative instruments		39,474
Receivable from investment adviser for expense reductions		41,831
Other receivables		3,755
Total assets		363,443,767

Liabilities
Payable for fund shares redeemed	473,160
Accrued management fee	71,859
Other affiliated payables	29,010
Other payables and accrued expenses	286,281
Collateral on securities loaned, at value	741,120
Total liabilities		1,601,430

Net Assets		$ 361,842,337
Net Assets consist of:
Paid in capital		$ 351,184,379
Undistributed net investment income		6,018,159
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(12,443,909)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		17,083,708
Net Assets		$ 361,842,337

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Emerging Markets Index
Financial Statements - continued

Statement of Assets and Liabilities - continued

	October 31, 2014

Investor Class: Net Asset Value, offering price and redemption price per share ($16,791,650 ÷ 1,652,701 shares)		$ 10.16

Fidelity Advantage Class: Net Asset Value, offering price and redemption price per share ($323,341,573 ÷ 31,796,293 shares)		$ 10.17

Institutional Class: Net Asset Value, offering price and redemption price per share ($21,597,911 ÷ 2,120,928 shares)		$ 10.18

Fidelity Advantage Institutional Class: Net Asset Value, offering price and redemption price per share ($111,203 ÷ 10,921 shares)		$ 10.18

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Operations

	Year ended October 31, 2014

Investment Income
Dividends		$ 8,501,134
Interest		611
Income from Fidelity Central Funds		34,123
Income before foreign taxes withheld		8,535,868
Less foreign taxes withheld		(953,211)
Total income		7,582,657

Expenses
Management fee	$ 670,738
Transfer agent fees	274,270
Independent trustees' compensation	1,085
Interest	860
Miscellaneous	409
Total expenses before reductions	947,362
Expense reductions	(402,076)	545,286
Net investment income (loss)		7,037,371
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers (net of foreign taxes of $1,529)	(2,732,148)
Foreign currency transactions	(206,516)
Futures contracts	(428,790)
Total net realized gain (loss)		(3,367,454)
Change in net unrealized appreciation (depreciation) on: Investment securities (net of increase in deferred foreign taxes of $132,805)	5,419,393
Assets and liabilities in foreign currencies	(3,715)
Futures contracts	176,040
Total change in net unrealized appreciation (depreciation)		5,591,718
Net gain (loss)		2,224,264
Net increase (decrease) in net assets resulting from operations		$ 9,261,635

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Emerging Markets Index
Financial Statements - continued

Statement of Changes in Net Assets

	Year ended October 31, 2014	Year ended October 31, 2013
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 7,037,371	$ 4,894,964
Net realized gain (loss)	(3,367,454)	(4,980,110)
Change in net unrealized appreciation (depreciation)	5,591,718	6,986,778
Net increase (decrease) in net assets resulting from operations	9,261,635	6,901,632
Distributions to shareholders from net investment income	(4,624,751)	(1,410,281)
Distributions to shareholders from net realized gain	-	(695,069)
Total distributions	(4,624,751)	(2,105,350)
Share transactions - net increase (decrease)	128,951,374	126,222,608
Redemption fees	77,190	278,931
Total increase (decrease) in net assets	133,665,448	131,297,821

Net Assets
Beginning of period	228,176,889	96,879,068
End of period (including undistributed net investment income of $6,018,159 and undistributed net investment income of $4,171,244, respectively)	$ 361,842,337	$ 228,176,889

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Investor Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.04	$ 9.76	$ 9.54	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.25	.26	.27	.02
Net realized and unrealized gain (loss)	.06	.19	(.06)	(.48)
Total from investment operations	.31	.45	.21	(.46)
Distributions from net investment income	(.19)	(.12)	-	-
Distributions from net realized gain	-	(.06)	(.03)	-
Total distributions	(.19)	(.19) ^K	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.02	.04	- ^J
Net asset value, end of period	$ 10.16	$ 10.04	$ 9.76	$ 9.54
Total Return^{B, C}	3.18%	4.78%	2.68%	(4.60)%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.46%	.46%	.46%	.46% ^A
Expenses net of fee waivers, if any	.31%	.32%	.33%	.33% ^A
Expenses net of all reductions	.31%	.32%	.33%	.33% ^A
Net investment income (loss)	2.50%	2.56%	2.80%	1.76% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 16,792	$ 10,259	$ 44,554	$ 14,188
Portfolio turnover rate ^F	8%	33%	62%	-% ^{G, L}

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Amount represents less than 1%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^JAmount represents less than $.01 per share.

^KTotal distributions of $.19 per share is comprised of distributions from net investment income of $.122 and distributions from net realized gain of $.064 per share.

^LAmount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.05	$ 9.77	$ 9.54	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.26	.26	.28	.02
Net realized and unrealized gain (loss)	.06	.21	(.06)	(.48)
Total from investment operations	.32	.47	.22	(.46)
Distributions from net investment income	(.20)	(.14)	-	-
Distributions from net realized gain	-	(.06)	(.03)	-
Total distributions	(.20)	(.20)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.04	- ^J
Net asset value, end of period	$ 10.17	$ 10.05	$ 9.77	$ 9.54
Total Return^{B, C}	3.30%	4.93%	2.78%	(4.60)%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.35%	.35%	.35%	.35% ^A
Expenses net of fee waivers, if any	.20%	.20%	.22%	.22% ^A
Expenses net of all reductions	.20%	.20%	.22%	.22% ^A
Net investment income (loss)	2.61%	2.68%	2.91%	1.87% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 323,342	$ 210,071	$ 51,728	$ 10,517
Portfolio turnover rate ^F	8%	33%	62%	-% ^{G, K}

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Amount represents less than 1%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^JAmount represents less than $.01 per share.

^KAmount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Institutional Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.06	$ 9.79	$ 9.54	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.26	.27	.28	.03
Net realized and unrealized gain (loss)	.06	.20	(.04)	(.49)
Total from investment operations	.32	.47	.24	(.46)
Distributions from net investment income	(.20)	(.15)	-	-
Distributions from net realized gain	-	(.06)	(.03)	-
Total distributions	(.20)	(.21)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.04	- ^J
Net asset value, end of period	$ 10.18	$ 10.06	$ 9.79	$ 9.54
Total Return^{B, C}	3.37%	4.91%	2.99%	(4.60)%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.28%	.28%	.28%	.28% ^A
Expenses net of fee waivers, if any	.13%	.13%	.15%	.15% ^A
Expenses net of all reductions	.13%	.13%	.15%	.15% ^A
Net investment income (loss)	2.68%	2.74%	2.99%	1.93% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 21,598	$ 474	$ 517	$ 4,771
Portfolio turnover rate ^F	8%	33%	62%	-% ^{G, K}

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Amount represents less than 1%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^JAmount represents less than $.01 per share.

^KAmount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Institutional Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.06	$ 9.79	$ 9.54	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.27	.26	.28	.03
Net realized and unrealized gain (loss)	.06	.21	(.04)	(.49)
Total from investment operations	.33	.47	.24	(.46)
Distributions from net investment income	(.21)	(.15)	-	-
Distributions from net realized gain	-	(.06)	(.03)	-
Total distributions	(.21)	(.21)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.04	- ^J
Net asset value, end of period	$ 10.18	$ 10.06	$ 9.79	$ 9.54
Total Return^{B, C}	3.40%	4.95%	2.99%	(4.60)%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.25%	.24%	.25%	.25% ^A
Expenses net of fee waivers, if any	.10%	.10%	.12%	.12% ^A
Expenses net of all reductions	.10%	.10%	.12%	.12% ^A
Net investment income (loss)	2.71%	2.78%	3.02%	1.96% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 111	$ 7,372	$ 80	$ 4,771
Portfolio turnover rate ^F	8%	33%	62%	-% ^{G, K}

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Amount represents less than 1%.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^JAmount represents less than $.01 per share.

^KAmount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Global ex U.S. Index Fund

Performance: The Bottom Line

Average Annual Total Returns

Periods ended October 31, 2014	Past 1 year	Life of fund ^A
Institutional Class	0.56%	8.07%
Fidelity Advantage Institutional Class	0.67%	8.12%

^A From September 8, 2011.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Spartan Global ex U.S. Index Fund - Institutional Class on September 8, 2011, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the MSCI ACWI (All Country World Index) ex USA Index performed over the same period.

ang2262452

Annual Report

Spartan Global ex U.S. Index Fund

Management's Discussion of Fund Performance

Comments from Patrick Waddell, Senior Portfolio Manager of the Geode Capital Management, LLC, investment management team for Spartan® Global ex U.S. Index Fund: For the 12-month period ending October 31, 2014, the fund's Institutional Class and Fidelity Advantage® Institutional Class shares gained 0.56% and 0.67%, respectively, compared with 0.18% for the MSCI ACWI (All Country World Index) ex USA Index. (The fund's performance relative to the index can be affected by Fidelity's methodologies for valuing certain foreign stocks and for incorporating foreign exchange rates, which differ from those used by the index.) Health care was the strongest-performing sector in the benchmark. Within that group, various large European drug makers made meaningful contributions, most notably Novartis and Roche Holdings (based in Switzerland), AstraZeneca (U.K.) and Novo-Nordisk (Denmark). Information technology stocks were another source of strength, led by Chinese social-media company Tencent Holdings. In contrast, materials and energy stocks lagged. Australian mining company BHP Billiton was a standout detractor in the materials sector, while Russian energy giant Gazprom suffered a roughly -27% return. The biggest individual detractor of the period was Tesco, a U.K. retailer whose shares hit their lowest point in more than a decade.

Annual Report

Spartan Global ex U.S. Index Fund

Investment Changes (Unaudited)

Top Ten Stocks as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Nestle SA (Switzerland, Food Products)	1.2	1.3
Novartis AG (Switzerland, Pharmaceuticals)	1.1	1.1
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)	1.1	1.1
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks)	1.0	1.0
Toyota Motor Corp. (Japan, Automobiles)	0.9	0.8
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels)	0.7	0.9
Total SA (France, Oil, Gas & Consumable Fuels)	0.7	0.8
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals)	0.7	0.8
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels)	0.6	0.6
Bayer AG (Germany, Pharmaceuticals)	0.6	0.6
	8.6
Market Sectors as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	26.5	26.6
Industrials	9.5	10.1
Consumer Discretionary	9.4	9.6
Consumer Staples	8.6	9.6
Health Care	8.3	7.8
Energy	8.3	9.5
Materials	7.2	8.3
Information Technology	7.0	6.9
Telecommunication Services	5.2	5.2
Utilities	3.3	3.3

Geographic Diversification (% of fund's net assets)
As of October 31, 2014
	Japan 14.1%
	United Kingdom 12.9%
	Canada 7.4%
	Switzerland 6.1%
	France 6.0%
	Germany 5.7%
	Australia 5.3%
	Korea (South) 2.9%
	Hong Kong 2.7%
	Other* 36.9%

ang2262464

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

* Includes Short-Term Investments and Net Other Assets (Liabilities).

As of April 30, 2014
	United Kingdom 14.3%
	Japan 13.3%
	Canada 7.3%
	France 7.0%
	Germany 6.5%
	Switzerland 6.5%
	Australia 5.5%
	Korea (South) 3.2%
	Spain 2.5%
	Other* 33.9%

ang2262476

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

* Includes Short-Term Investments and Net Other Assets (Liabilities).

Annual Report

Spartan Global ex U.S. Index Fund

Investments October 31, 2014

Showing Percentage of Net Assets

Common Stocks - 91.8%
	Shares		Value
Australia - 5.3%
AGL Energy Ltd.	25,980		$ 311,437
ALS Ltd.	13,184		65,292
Alumina Ltd. (a)	96,661		139,703
Amcor Ltd.	45,401		471,573
AMP Ltd.	111,907		577,107
APA Group unit	31,566		219,457
Asciano Ltd.	37,852		209,377
ASX Ltd.	7,447		236,273
Aurizon Holdings Ltd.	82,215		341,004
Australia & New Zealand Banking Group Ltd.	102,949		3,046,321
Bank of Queensland Ltd.	13,894		154,457
Bendigo & Adelaide Bank Ltd.	15,846		174,020
BHP Billiton Ltd.	120,747		3,612,370
Boral Ltd.	28,306		124,325
Brambles Ltd.	58,901		495,407
Caltex Australia Ltd.	5,354		147,466
CFS Retail Property Trust unit	79,760		148,353
Coca-Cola Amatil Ltd.	22,132		178,591
Cochlear Ltd.	2,008		130,143
Commonwealth Bank of Australia	60,799		4,323,386
Computershare Ltd.	17,571		190,692
Crown Ltd.	13,457		172,608
CSL Ltd.	17,974		1,269,017
DEXUS Property Group unit	205,824		219,986
Federation Centres unit	50,313		120,822
Flight Centre Travel Group Ltd.	2,316		85,935
Fortescue Metals Group Ltd.	56,013		172,875
Goodman Group unit	65,144		318,046
Harvey Norman Holdings Ltd.	21,817		73,366
Iluka Resources Ltd.	15,305		98,254
Incitec Pivot Ltd.	57,937		148,672
Insurance Australia Group Ltd.	87,709		507,179
Leighton Holdings Ltd.	3,883		75,598
Lend Lease Group unit	21,184		295,454
Macquarie Group Ltd.	10,877		587,837
Metcash Ltd.	34,879		87,113
Mirvac Group unit	142,488		226,059
National Australia Bank Ltd.	88,318		2,732,186
Newcrest Mining Ltd. (a)	29,272		243,438
Orica Ltd.	14,271		260,506
Origin Energy Ltd.	41,836		525,574
Qantas Airways Ltd. (a)	33,760		50,441
QBE Insurance Group Ltd.	50,984		517,891
Common Stocks - continued
	Shares		Value
Australia - continued
Ramsay Health Care Ltd.	5,019		$ 232,020
realestate.com.au Ltd.	1,949		78,040
Rio Tinto Ltd.	16,423		876,961
Santos Ltd.	37,287		427,281
Scentre Group unit (a)	201,162		641,695
SEEK Ltd.	12,614		185,109
Sonic Healthcare Ltd.	13,871		229,548
SP AusNet unit	65,013		78,594
Stockland Corp. Ltd. unit	86,453		323,229
Suncorp Group Ltd.	48,295		628,426
Sydney Airport unit	40,523		157,543
Tabcorp Holdings Ltd.	26,391		94,801
Tatts Group Ltd.	52,681		161,261
Telstra Corp. Ltd.	162,957		810,899
The GPT Group unit	62,197		226,078
Toll Holdings Ltd.	23,672		118,602
TPG Telecom Ltd.	11,850		76,728
Transurban Group unit	68,459		490,297
Treasury Wine Estates Ltd.	25,954		105,969
Wesfarmers Ltd.	42,902		1,669,647
Westfield Corp. unit	75,152		528,093
Westpac Banking Corp.	116,668		3,581,040
Woodside Petroleum Ltd.	27,700		983,915
Woolworths Ltd.	47,243		1,499,285
WorleyParsons Ltd.	7,968		95,104
TOTAL AUSTRALIA			38,385,776
Austria - 0.1%
Andritz AG	2,562		123,671
Erste Group Bank AG	10,702		272,382
IMMOFINANZ Immobilien Anlagen AG	32,179		97,264
OMV AG	5,311		166,953
Raiffeisen International Bank-Holding AG	4,537		96,768
Vienna Insurance Group AG	1,177		56,579
Voestalpine AG	4,358		174,514
TOTAL AUSTRIA			988,131
Bailiwick of Guernsey - 0.0%
Friends Life Group Ltd.	53,721		277,922
Bailiwick of Jersey - 0.8%
Experian PLC	37,430		561,944
Common Stocks - continued
	Shares		Value
Bailiwick of Jersey - continued
Glencore Xstrata PLC	399,397		$ 2,043,890
Petrofac Ltd.	9,775		165,753
Randgold Resources Ltd.	3,403		199,172
Shire PLC	22,125		1,484,520
Wolseley PLC	10,013		531,310
WPP PLC	49,970		976,046
TOTAL BAILIWICK OF JERSEY			5,962,635
Belgium - 0.8%
Ageas	8,621		287,857
Anheuser-Busch InBev SA NV	30,117		3,339,807
Belgacom SA	5,721		215,867
Colruyt NV	2,743		124,932
Delhaize Group SA	3,950		270,081
Groupe Bruxelles Lambert SA	2,968		265,004
KBC Groupe SA (a)	9,394		503,257
Solvay SA Class A	2,247		306,081
Telenet Group Holding NV (a)	2,140		121,014
UCB SA	4,749		383,198
Umicore SA	3,962		155,106
TOTAL BELGIUM			5,972,204
Bermuda - 0.4%
Alibaba Health Information Technology Ltd. (a)	96,000		59,964
Alibaba Pictures Group Ltd. (a)	190,000		39,445
Apollo Solar Energy Technology Holdings Ltd. (d)	450,000		102,672
Beijing Enterprises Water Group Ltd.	156,000		111,695
Brilliance China Automotive Holdings Ltd.	108,000		186,761
Cheung Kong Infrastructure Holdings Ltd.	23,000		167,999
China Gas Holdings Ltd.	74,000		132,303
China Resources Gas Group Ltd.	32,000		91,472
Cosco Pacific Ltd.	72,707		95,676
Credicorp Ltd. (United States)	2,501		402,661
First Pacific Co. Ltd.	80,852		87,256
GOME Electrical Appliances Holdings Ltd.	391,104		61,617
Haier Electronics Group Co. Ltd.	37,000		99,932
Kerry Properties Ltd.	24,000		82,330
Kunlun Energy Co. Ltd.	124,000		164,599
Li & Fung Ltd.	220,000		268,122
Nine Dragons Paper (Holdings) Ltd.	67,000		51,931
Noble Group Ltd.	157,131		146,267
NWS Holdings Ltd.	59,603		111,419
Common Stocks - continued
	Shares		Value
Bermuda - continued
Seadrill Ltd.	14,342		$ 322,565
Shangri-La Asia Ltd.	52,000		75,504
Sihuan Pharmaceutical Holdings Group Ltd.	161,000		128,559
Yue Yuen Industrial (Holdings) Ltd.	26,500		88,960
TOTAL BERMUDA			3,079,709
Brazil - 1.2%
All America Latina Logistica SA	15,900		43,570
Ambev SA	176,400		1,167,505
B2W Companhia Global do Varejo (a)	3,900		50,806
Banco Bradesco SA	22,450		330,512
Banco do Brasil SA	32,300		361,467
Banco Santander SA (Brasil) unit	34,900		188,028
BB Seguridade Participacoes SA	26,300		350,893
BM&F BOVESPA SA	68,600		301,764
BR Malls Participacoes SA	15,500		124,480
BR Properties SA	5,800		29,305
Brasil Foods SA	24,700		642,844
CCR SA	32,000		238,266
Centrais Eletricas Brasileiras SA (Electrobras)	10,800		27,110
Cetip SA - Mercados Organizado	6,804		86,220
Cielo SA	26,564		436,212
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)	11,800		92,337
Companhia de Saneamento de Minas Gerais	1,800		20,500
Companhia Siderurgica Nacional SA (CSN)	25,300		84,235
Cosan Logistica SA (a)	3,900		6,532
Cosan SA Industria e Comercio	3,900		54,442
CPFL Energia SA	9,700		72,812
Cyrela Brazil Realty SA	9,300		46,239
Drogasil SA	8,500		77,148
Duratex SA	9,944		35,716
Ecorodovias Infraestrutura e Logistica SA	8,100		36,219
Embraer SA	24,100		233,326
Energias do Brasil SA	10,900		42,537
Estacio Participacoes SA	10,200		118,140
Fibria Celulose SA (a)	8,800		106,577
Hypermarcas SA (a)	13,900		97,102
JBS SA	28,400		126,648
Klabin SA unit	16,600		82,065
Kroton Educacional SA	64,752		461,488
Localiza Rent A Car SA	5,680		81,880
Common Stocks - continued
	Shares		Value
Brazil - continued
Lojas Americanas SA	7,875		$ 38,614
Lojas Renner SA	4,700		140,740
M. Dias Branco SA	1,000		38,888
Multiplan Empreendimentos Imobiliarios SA	3,100		64,117
Natura Cosmeticos SA	6,900		100,246
Odontoprev SA	7,700		27,812
Petroleo Brasileiro SA - Petrobras (ON)	111,600		659,809
Porto Seguro SA	4,700		56,334
Qualicorp SA (a)	7,700		78,308
Souza Cruz SA	15,200		122,807
Sul America SA unit	6,553		34,803
Terna Participacoes SA unit	2,800		20,792
TIM Participacoes SA	33,300		181,021
Totvs SA	4,300		62,681
Tractebel Energia SA	6,300		85,809
Ultrapar Participacoes SA	13,300		290,111
Vale SA	49,300		497,397
Via Varejo SA unit (a)	3,800		36,560
Weg SA	11,200		132,118
TOTAL BRAZIL			8,923,892
Canada - 6.9%
Agnico Eagle Mines Ltd. (Canada)	7,924		186,737
Agrium, Inc.	5,409		529,214
Alimentation Couche-Tard, Inc. Class B (sub. vtg.)	15,669		531,777
AltaGas Ltd.	4,886		201,587
ARC Resources Ltd.	11,578		273,052
ATCO Ltd. Class I (non-vtg.)	3,049		123,902
Athabasca Oil Corp. (a)	10,567		34,222
Bank of Montreal	24,029		1,742,505
Bank of Nova Scotia	45,561		2,790,134
Barrick Gold Corp.	43,927		521,488
Baytex Energy Corp.	6,320		193,124
BCE, Inc.	10,592		470,369
BlackBerry Ltd. (a)	19,386		203,553
Bombardier, Inc. Class B (sub. vtg.)	56,334		185,439
Brookfield Asset Management, Inc. Class A	20,872		1,021,701
CAE, Inc.	10,661		136,591
Cameco Corp.	14,991		260,302
Canadian Imperial Bank of Commerce	14,814		1,352,391
Canadian National Railway Co.	30,826		2,173,314
Canadian Natural Resources Ltd.	41,011		1,431,137
Common Stocks - continued
	Shares		Value
Canada - continued
Canadian Oil Sands Ltd.	18,492		$ 289,755
Canadian Pacific Railway Ltd.	6,571		1,366,789
Canadian Tire Ltd. Class A (non-vtg.)	2,934		321,684
Canadian Utilities Ltd. Class A (non-vtg.)	4,408		152,376
Catamaran Corp. (a)	7,776		370,499
Cenovus Energy, Inc.	28,312		700,609
CGI Group, Inc. Class A (sub. vtg.) (a)	8,455		290,248
CI Financial Corp.	8,416		244,703
Crescent Point Energy Corp.	15,530		513,280
Dollarama, Inc.	2,321		203,918
Eldorado Gold Corp.	28,149		153,851
Empire Co. Ltd. Class A (non-vtg.)	2,094		144,864
Enbridge, Inc.	31,271		1,479,688
Encana Corp.	27,914		520,114
Enerplus Corp.	8,125		116,355
Fairfax Financial Holdings Ltd. (sub. vtg.)	765		349,516
Finning International, Inc.	6,738		173,973
First Capital Realty, Inc.	2,971		48,530
First Quantum Minerals Ltd.	22,595		340,815
Fortis, Inc.	8,147		265,434
Franco-Nevada Corp.	6,047		283,075
George Weston Ltd.	1,948		159,152
Gildan Activewear, Inc.	4,542		270,574
Goldcorp, Inc.	30,613		574,478
Great-West Lifeco, Inc.	11,120		311,583
H&R REIT/H&R Finance Trust	5,557		110,593
Husky Energy, Inc.	13,010		314,096
IGM Financial, Inc.	3,910		156,393
Imperial Oil Ltd.	11,146		536,309
Industrial Alliance Insurance and Financial Services, Inc.	3,633		146,410
Intact Financial Corp.	4,820		323,187
Inter Pipeline Ltd.	12,019		378,683
Keyera Corp.	3,136		249,478
Kinross Gold Corp. (a)	44,425		94,995
Loblaw Companies Ltd.	8,512		443,480
Magna International, Inc. Class A (sub. vtg.)	8,168		806,183
Manulife Financial Corp.	69,515		1,319,308
MEG Energy Corp. (a)	5,635		135,994
Methanex Corp.	3,699		219,830
Metro, Inc. Class A (sub. vtg.)	3,373		237,027
National Bank of Canada	12,252		572,677
New Gold, Inc. (a)	20,473		74,295
Common Stocks - continued
	Shares		Value
Canada - continued
Onex Corp. (sub. vtg.)	3,401		$ 191,890
Open Text Corp.	4,578		252,855
Pacific Rubiales Energy Corp.	12,240		184,624
Pembina Pipeline Corp.	12,072		500,853
Pengrowth Energy Corp.	20,106		81,170
Penn West Petroleum Ltd.	17,783		80,470
Peyto Exploration & Development Corp.	5,603		158,140
Potash Corp. of Saskatchewan, Inc.	31,773		1,084,519
Power Corp. of Canada (sub. vtg.)	14,050		370,744
Power Financial Corp.	9,461		277,102
RioCan (REIT)	5,753		135,524
Rogers Communications, Inc. Class B (non-vtg.)	13,737		516,547
Royal Bank of Canada	53,983		3,832,288
Saputo, Inc.	9,262		262,809
Shaw Communications, Inc. Class B	14,876		381,981
Silver Wheaton Corp.	13,097		227,648
SNC-Lavalin Group, Inc.	5,524		238,007
Sun Life Financial, Inc.	22,855		812,969
Suncor Energy, Inc.	55,096		1,956,383
Talisman Energy, Inc.	39,201		250,082
Teck Resources Ltd. Class B (sub. vtg.)	21,419		338,470
TELUS Corp.	7,491		268,454
The Toronto-Dominion Bank	68,907		3,391,395
Thomson Reuters Corp.	13,490		501,873
Tim Hortons, Inc.	371		30,058
Tim Hortons, Inc. (Canada)	4,786		387,789
Tourmaline Oil Corp. (a)	6,499		233,135
TransAlta Corp.	10,294		100,104
TransCanada Corp.	26,519		1,307,068
Turquoise Hill Resources Ltd. (a)	31,312		105,017
Valeant Pharmaceuticals International (Canada) (a)	11,971		1,591,106
Vermilion Energy, Inc.	3,761		213,436
Yamana Gold, Inc.	31,511		125,535
TOTAL CANADA			50,517,385
Cayman Islands - 1.0%
AAC Technology Holdings, Inc.	26,500		158,968
Agile Property Holdings Ltd.	60,000		33,817
Agile Property Holdings Ltd. rights 11/11/14 (a)	7,500		496
Anta Sports Products Ltd.	37,000		72,623
ASM Pacific Technology Ltd.	8,100		89,104
Belle International Holdings Ltd.	170,000		216,329
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
Biostime International Holdings Ltd.	5,000		$ 11,321
Chailease Holding Co. Ltd.	31,900		78,657
China Huishan Dairy Hld Co. Ltd. (d)	261,000		58,552
China Mengniu Dairy Co. Ltd.	51,000		225,277
China Resources Cement Holdings Ltd.	78,198		53,175
China Resources Land Ltd.	74,000		176,011
China State Construction International Holdings Ltd.	60,000		92,754
Country Garden Holdings Co. Ltd.	175,644		69,007
ENN Energy Holdings Ltd.	28,000		181,675
Evergrande Real Estate Group Ltd. (d)	219,000		84,157
GCL-Poly Energy Holdings Ltd. (a)	354,000		119,306
Geely Automobile Holdings Ltd.	185,000		82,815
Golden Eagle Retail Group Ltd. (H Shares)	14,000		17,163
Haitian International Holdings Ltd.	26,000		55,772
Hengan International Group Co. Ltd.	28,500		300,412
Intime Department Store Group Co. Ltd.	48,000		41,803
Kingboard Chemical Holdings Ltd.	21,400		42,161
Kingsoft Corp. Ltd.	27,000		63,750
Lee & Man Paper Manufacturing Ltd.	47,000		25,792
Longfor Properties Co. Ltd.	46,500		53,942
MGM China Holdings Ltd.	35,600		114,447
New World China Land Ltd.	106,000		64,439
Sands China Ltd.	91,600		571,319
Shenzhou International Group Holdings Ltd.	20,000		69,049
Shimao Property Holdings Ltd.	47,500		102,231
Shui On Land Ltd.	105,503		24,085
Sino Biopharmaceutical Ltd.	116,000		116,787
SOHO China Ltd.	75,500		55,403
Tencent Holdings Ltd.	192,900		3,100,341
Tingyi (Cayman Islands) Holding Corp.	76,000		189,069
TPK Holding Co. Ltd.	8,295		48,892
Uni-President China Holdings Ltd.	39,605		36,800
Want Want China Holdings Ltd.	229,000		312,715
Wynn Macau Ltd.	60,000		216,906
Yingde Gases Group Co. Ltd.	44,000		34,357
Zhen Ding Technology Holding Ltd.	11,302		31,004
Zhongsheng Group Holdings Ltd. Class H	16,000		16,479
TOTAL CAYMAN ISLANDS			7,509,162
Chile - 0.3%
AES Gener SA	69,218		38,385
Aguas Andinas SA	97,664		58,437
Common Stocks - continued
	Shares		Value
Chile - continued
Banco de Chile	1,055,249		$ 128,921
Banco de Credito e Inversiones	1,205		67,431
Banco Santander Chile	2,522,728		134,155
CAP SA	3,258		31,197
Cencosud SA	42,610		121,968
Colbun SA (a)	257,068		69,157
Compania Cervecerias Unidas SA	5,512		57,729
Compania de Petroleos de Chile SA (COPEC)	15,734		190,724
CorpBanca SA	5,160,356		68,964
Empresa Nacional de Electricidad SA	108,548		169,023
Empresa Nacional de Telecomunicaciones SA (ENTEL)	4,791		51,622
Empresas CMPC SA	45,946		112,186
Enersis SA	677,255		216,563
LATAM Airlines Group SA (a)	12,457		150,024
S.A.C.I. Falabella	36,097		263,535
Vina Concha y Toro SA	12,259		23,439
TOTAL CHILE			1,953,460
China - 2.1%
Agricultural Bank of China Ltd. (H Shares)	819,000		380,584
Air China Ltd. (H Shares)	70,000		45,332
Aluminum Corp. of China Ltd. (H Shares) (a)	158,000		70,332
Anhui Conch Cement Co. Ltd. (H Shares)	46,500		152,281
AviChina Industry & Technology Co. Ltd. (H Shares)	68,000		51,797
Bank Communications Co. Ltd. (H Shares)	342,000		256,435
Bank of China Ltd. (H Shares)	3,001,000		1,436,433
BBMG Corp. (H Shares)	44,000		31,113
Beijing Capital International Airport Co. Ltd. (H Shares)	58,000		42,569
BYD Co. Ltd. (H Shares)	24,000		152,465
Changsha Zoomlion Heavy Industry Science & Technology Development Co. Ltd. (H Shares)	37,000		17,799
China BlueChemical Ltd. (H Shares)	78,000		27,699
China Cinda Asset Mngmt Co. Ltd. (H Shares)	205,000		97,024
China CITIC Bank Corp. Ltd. (H Shares)	321,000		209,115
China Coal Energy Co. Ltd. (H Shares)	156,000		95,568
China Communications Construction Co. Ltd. (H Shares)	155,000		118,991
China Communications Services Corp. Ltd. (H Shares)	110,000		51,651
China Construction Bank Corp. (H Shares)	2,722,000		2,030,882
China Cosco Holdings Co. Ltd. (H Shares) (a)	117,000		52,539
China Everbright Bank Co. Ltd. (H Shares)	100,000		49,031
China International Marine Containers (Group) Ltd. (H Shares)	16,700		39,005
China Life Insurance Co. Ltd. (H Shares)	282,000		841,480
Common Stocks - continued
	Shares		Value
China - continued
China Longyuan Power Grid Corp. Ltd. (H Shares)	106,000		$ 113,037
China Merchants Bank Co. Ltd. (H Shares)	168,751		312,734
China Minsheng Banking Corp. Ltd. (H Shares)	239,500		240,291
China National Building Materials Co. Ltd. (H Shares)	116,000		107,551
China Oilfield Services Ltd. (H Shares)	68,000		142,123
China Pacific Insurance Group Co. Ltd. (H Shares)	101,800		380,952
China Petroleum & Chemical Corp. (H Shares)	962,000		834,258
China Railway Construction Corp. Ltd. (H Shares)	71,500		75,118
China Railway Group Ltd. (H Shares)	164,000		101,172
China Shenhua Energy Co. Ltd. (H Shares)	129,500		365,000
China Shipping Container Lines Co. Ltd. (H Shares) (a)	156,000		44,491
China Telecom Corp. Ltd. (H Shares)	532,000		339,126
China Vanke Co. Ltd. (H Shares) (a)	44,800		83,462
Chongqing Changan Automobile Co. Ltd. (B Shares)	34,300		75,803
Chongqing Rural Commercial Bank Co. Ltd. (H Shares)	97,000		46,682
CITIC Securities Co. Ltd. (H Shares)	38,000		94,816
CSR Corp. Ltd. (H Shares)	78,000		79,356
Datang International Power Generation Co. Ltd. (H Shares)	104,000		54,464
Dongfeng Motor Group Co. Ltd. (H Shares)	102,000		157,739
Great Wall Motor Co. Ltd. (H Shares)	37,000		162,602
Guangzhou Automobile Group Co. Ltd. (H Shares)	80,000		71,178
Guangzhou R&F Properties Co. Ltd. (H Shares)	39,600		43,192
Haitong Securities Co. Ltd. (H Shares)	48,400		83,099
Huaneng Power International, Inc. (H Shares)	114,000		140,156
Industrial & Commercial Bank of China Ltd. (H Shares)	2,783,000		1,847,801
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)	35,000		57,103
Jiangsu Expressway Co. Ltd. (H Shares)	50,000		55,852
Jiangxi Copper Co. Ltd. (H Shares)	46,000		81,709
New China Life Insurance Co. Ltd. (H Shares)	30,800		115,259
People's Insurance Co. of China Group (H Shares)	237,000		102,442
PetroChina Co. Ltd. (H Shares)	796,000		996,548
PICC Property & Casualty Co. Ltd. (H Shares)	118,601		217,566
Ping An Insurance (Group) Co. of China Ltd. (H Shares)	77,500		633,542
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)	64,000		64,719
Shanghai Electric Group Co. Ltd. (H Shares)	82,000		41,084
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. Class H	15,000		54,004
Shanghai Pharma Holding Co. Ltd. (H Shares)	24,300		60,812
Sinopec Engineering Group Co. Ltd. (H Shares) (e)	46,000		44,490
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares)	147,000		45,577
Sinopharm Group Co. Ltd. (H Shares)	36,400		142,200
Tsingtao Brewery Co. Ltd. (H Shares)	14,000		103,491
Weichai Power Co. Ltd. (H Shares)	17,400		66,793
Common Stocks - continued
	Shares		Value
China - continued
Yanzhou Coal Mining Co. Ltd. (H Shares)	78,000		$ 65,956
Zhejiang Expressway Co. Ltd. (H Shares)	50,000		50,418
Zhuzhou CSR Times Electric Co. Ltd. (H Shares)	19,500		83,857
Zijin Mining Group Co. Ltd. (H Shares)	200,000		51,212
ZTE Corp. (H Shares)	26,400		64,021
TOTAL CHINA			15,444,983
Colombia - 0.1%
Almacenes Exito SA	7,290		102,822
Cementos Argos SA	15,648		79,856
Cemex Latam Holdings SA (a)	6,935		61,884
Corporacion Financiera Colombiana SA	3,185		62,694
Corporacion Financiera Colombiana SA (RFD)	86		1,684
Ecopetrol SA	189,677		253,517
Grupo de Inversiones Suramerica SA	10,233		212,767
Interconexion Electrica SA ESP	13,185		56,393
Inversiones Argos SA	10,535		114,592
Isagen SA	24,857		32,740
TOTAL COLOMBIA			978,949
Czech Republic - 0.1%
Ceske Energeticke Zavody A/S	6,005		166,093
Komercni Banka A/S	606		129,805
Telefonica Czech Rep A/S	2,853		31,873
TOTAL CZECH REPUBLIC			327,771
Denmark - 1.0%
A.P. Moller - Maersk A/S:
Series A	147		333,872
Series B	267		622,153
Carlsberg A/S Series B	3,893		342,796
Coloplast A/S Series B	4,027		350,528
Danske Bank A/S	24,619		675,214
DSV de Sammensluttede Vognmaend A/S	6,873		205,513
Novo Nordisk A/S Series B	75,354		3,406,206
Novozymes A/S Series B	9,009		417,877
Pandora A/S	4,368		367,708
TDC A/S (d)	31,606		241,109
Tryg A/S	896		96,849
Vestas Wind Systems A/S (a)	8,547		286,075
William Demant Holding A/S (a)	886		67,142
TOTAL DENMARK			7,413,042
Common Stocks - continued
	Shares		Value
Egypt - 0.1%
Commercial International Bank SAE	16,134		$ 110,342
Commercial International Bank SAE sponsored GDR	14,156		96,261
Global Telecom Holding (a)	35,582		21,498
Global Telecom Holding GDR (a)	10,000		30,030
Talaat Moustafa Group Holding	38,829		57,076
Telecom Egypt SAE	7,964		15,148
TOTAL EGYPT			330,355
Finland - 0.6%
Elisa Corp. (A Shares)	5,192		142,489
Fortum Corp.	16,861		390,682
Kone Oyj (B Shares)	11,743		504,750
Metso Corp.	4,029		131,424
Neste Oil Oyj (d)	5,227		112,991
Nokia Corp.	140,519		1,174,162
Nokian Tyres PLC (d)	3,944		111,155
Orion Oyj (B Shares)	3,759		127,610
Sampo Oyj (A Shares)	16,684		798,041
Stora Enso Oyj (R Shares)	20,853		171,817
UPM-Kymmene Corp.	20,184		319,205
Wartsila Corp.	5,575		258,214
TOTAL FINLAND			4,242,540
France - 6.0%
Accor SA	6,337		266,110
Aeroports de Paris	1,141		134,920
Air Liquide SA	5,608		676,413
Air Liquide SA	6,490		782,796
Alcatel-Lucent SA (a)	106,004		323,872
Alstom SA (a)	8,141		284,147
Arkema SA	2,056		126,814
Atos Origin SA	3,089		213,252
AXA SA	68,108		1,571,285
BIC SA	1,083		134,997
BNP Paribas SA	39,729		2,496,290
Bollore Group (d)	192		90,949
Bollore Group (a)	1		457
Bouygues SA	7,416		256,032
Bureau Veritas SA	7,971		197,080
Cap Gemini SA	5,477		360,059
Carrefour SA	23,510		688,517
Casino Guichard Perrachon SA	2,186		224,027
Common Stocks - continued
	Shares		Value
France - continued
Christian Dior SA	2,069		$ 365,969
CNP Assurances	6,821		127,447
Compagnie de St. Gobain	16,716		717,352
Credit Agricole SA	37,493		554,180
Danone SA	21,776		1,488,010
Dassault Systemes SA	4,842		306,846
Edenred SA	7,564		209,482
EDF SA	4,008		118,283
EDF SA	4,600		135,754
EDF SA	648		19,124
Essilor International SA	7,647		844,248
Eurazeo SA	1,498		100,150
Eutelsat Communications	5,636		182,643
Fonciere des Regions	960		88,182
GDF Suez	54,352		1,318,292
Gecina SA	1,077		145,761
Groupe Eurotunnel SA	17,901		226,121
ICADE	1,378		109,637
Iliad SA	1,007		220,205
Imerys SA	1,199		85,960
JCDecaux SA	2,346		77,819
Kering SA	2,840		547,900
Klepierre SA	3,792		163,942
L'Oreal SA	4,308		675,361
L'Oreal SA	597		93,591
L'Oreal SA	4,500		705,461
Lafarge SA (a)	449		31,121
Lafarge SA	3,400		235,660
Lafarge SA (Bearer)	3,207		222,283
Lagardere S.C.A. (Reg.)	4,745		115,445
Legrand SA	10,000		538,103
LVMH Moet Hennessy - Louis Vuitton SA	10,482		1,777,892
Michelin CGDE Series B	6,990		606,071
Natixis SA	33,410		229,896
Numericable Group SA	3,000		110,904
Orange SA	69,645		1,108,774
Pernod Ricard SA	7,935		903,190
Peugeot Citroen SA (a)	14,701		174,241
Publicis Groupe SA (a)	6,830		473,057
Remy Cointreau SA	1,007		71,639
Renault SA	7,246		537,828
Rexel SA	9,811		164,810
Common Stocks - continued
	Shares		Value
France - continued
Safran SA	10,179		$ 644,169
Sanofi SA	44,522		4,039,931
Schneider Electric SA	19,611		1,545,309
SCOR SE	5,840		178,862
Societe Generale Series A	27,020		1,300,736
Sodexo SA	987		95,077
Sodexo SA	512		49,321
Sodexo SA	1,068		102,880
Sodexo SA	1,000		96,330
Suez Environnement SA	10,722		180,449
Technip SA	3,884		280,937
Thales SA	3,435		170,418
Total SA	80,355		4,797,459
Unibail-Rodamco	3,669		940,022
Valeo SA	2,845		318,480
Vallourec SA	4,015		146,737
Veolia Environnement SA	16,193		268,947
VINCI SA	18,218		1,038,189
Vivendi SA	45,431		1,108,748
Wendel SA	1,150		126,732
Zodiac Aerospace	6,936		211,516
TOTAL FRANCE			43,397,900
Germany - 5.3%
adidas AG	7,866		572,215
Allianz SE	17,101		2,719,438
Axel Springer Verlag AG	1,356		74,411
BASF AG	34,515		3,038,054
Bayer AG	31,057		4,415,370
Bayerische Motoren Werke AG (BMW)	12,333		1,318,629
Beiersdorf AG	3,707		299,909
Brenntag AG	5,934		287,037
Celesio AG	1,885		62,126
Commerzbank AG (a)	36,665		552,050
Continental AG	4,128		810,351
Daimler AG (Germany)	36,154		2,810,355
Deutsche Bank AG	51,807		1,620,077
Deutsche Boerse AG	7,349		502,004
Deutsche Lufthansa AG	8,049		118,921
Deutsche Post AG	36,428		1,143,754
Deutsche Telekom AG	116,956		1,762,916
Deutsche Wohnen AG (Bearer)	10,855		244,581
Common Stocks - continued
	Shares		Value
Germany - continued
E.ON AG	75,141		$ 1,292,857
Fraport AG Frankfurt Airport Services Worldwide	1,528		94,439
Fresenius Medical Care AG & Co. KGaA	8,137		597,237
Fresenius SE & Co. KGaA	14,187		729,805
GEA Group AG	7,102		326,581
Hannover Reuck SE	2,345		195,390
HeidelbergCement Finance AG	5,194		353,561
Henkel AG & Co. KGaA	4,401		399,901
Hochtief AG	886		65,496
Hugo Boss AG (a)	1,269		168,328
Infineon Technologies AG	42,580		413,053
K&S AG	6,403		178,653
Kabel Deutschland Holding AG	764		103,400
Lanxess AG	3,475		180,633
Linde AG	6,973		1,285,828
MAN SE	1,390		158,319
Merck KGaA	4,924		444,709
Metro AG (a)	6,329		201,759
Muenchener Rueckversicherungs AG	6,478		1,273,294
OSRAM Licht AG (a)	3,245		113,699
ProSiebenSat.1 Media AG	8,291		334,086
RWE AG	18,396		651,476
SAP AG	34,648		2,360,756
Siemens AG	29,794		3,360,567
Sky Deutschland AG (a)	16,432		138,583
Telefonica Deutschland Holding AG	20,102		98,773
Thyssenkrupp AG (a)	17,057		409,865
United Internet AG	4,271		167,016
Volkswagen AG	1,036		220,315
TOTAL GERMANY			38,670,577
Greece - 0.1%
Alpha Bank AE (a)	150,441		98,033
EFG Eurobank Ergasias SA (a)	324,309		112,575
Folli Follie SA	1,374		44,940
Greek Organization of Football Prognostics SA	7,989		96,810
Hellenic Telecommunications Organization SA (a)	9,136		103,153
Jumbo SA	3,776		41,404
National Bank of Greece SA (a)	59,066		142,473
Piraeus Bank SA (a)	82,653		120,149
Common Stocks - continued
	Shares		Value
Greece - continued
Public Power Corp. of Greece (a)	4,688		$ 35,601
Titan Cement Co. SA (Reg.)	1,431		31,723
TOTAL GREECE			826,861
Hong Kong - 2.7%
AIA Group Ltd.	452,600		2,525,700
Bank of East Asia Ltd.	48,349		201,909
Beijing Enterprises Holdings Ltd.	19,500		159,211
BOC Hong Kong (Holdings) Ltd.	138,500		461,054
Cathay Pacific Airways Ltd.	46,000		86,280
Cheung Kong Holdings Ltd.	52,000		923,118
China Agri-Industries Holdings Ltd.	77,609		29,650
China Everbright International Ltd.	97,000		133,930
China Everbright Ltd.	34,000		66,136
China Merchants Holdings International Co. Ltd.	43,369		137,089
China Mobile Ltd.	229,000		2,849,337
China Overseas Land and Investment Ltd.	156,000		452,624
China Resources Enterprise Ltd.	42,000		99,897
China Resources Power Holdings Co. Ltd.	72,000		209,566
China Taiping Insurance Group Ltd. (a)	29,400		63,113
China Taiping Insurance Group Ltd. rights 11/18/14 (a)	6,174		3,782
China Unicom Ltd.	174,000		261,437
CITIC Pacific Ltd.	86,000		150,687
CLP Holdings Ltd.	71,000		611,389
CNOOC Ltd.	673,000		1,053,843
CSPC Pharmaceutical Group Ltd.	92,000		84,757
Far East Horizon Ltd.	46,000		42,783
Fosun International Ltd.	68,500		81,252
Franshion Properties China Ltd.	102,000		24,078
Galaxy Entertainment Group Ltd.	88,000		601,735
Guangdong Investment Ltd.	94,000		123,650
Hang Lung Properties Ltd.	81,000		252,941
Hang Seng Bank Ltd.	29,300		496,469
Henderson Land Development Co. Ltd.	38,574		260,597
HKT Trust/HKT Ltd. unit	90,860		110,689
Hong Kong & China Gas Co. Ltd.	240,182		560,870
Hong Kong Exchanges and Clearing Ltd.	41,739		925,125
Hutchison Whampoa Ltd.	80,000		1,014,445
Hysan Development Co. Ltd.	25,020		114,163
Lenovo Group Ltd.	236,000		347,865
Link (REIT)	87,047		511,888
MTR Corp. Ltd.	54,020		220,266
Common Stocks - continued
	Shares		Value
Hong Kong - continued
New World Development Co. Ltd.	202,898		$ 255,044
PCCW Ltd.	148,592		94,462
Poly Property Group Co. Ltd.	57,000		22,081
Power Assets Holdings Ltd.	52,500		506,906
Shanghai Industrial Holdings Ltd.	18,000		55,500
Sino Land Ltd.	111,579		184,427
Sino-Ocean Land Holdings Ltd.	137,091		78,385
SJM Holdings Ltd.	68,000		143,724
Sun Art Retail Group Ltd.	94,000		100,771
Sun Hung Kai Properties Ltd.	61,781		921,841
Sun Hung Kai Properties Ltd. warrants 4/22/16 (a)	3,861		8,426
Swire Pacific Ltd. (A Shares)	24,500		321,356
Swire Properties Ltd.	46,000		147,398
Techtronic Industries Co. Ltd.	53,500		167,487
Wharf Holdings Ltd.	57,000		421,579
Wheelock and Co. Ltd.	34,000		163,884
Yuexiu Property Co. Ltd.	148,000		27,296
TOTAL HONG KONG			19,873,892
Hungary - 0.1%
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)	1,475		70,191
OTP Bank PLC	8,907		147,264
Richter Gedeon PLC	5,293		80,795
TOTAL HUNGARY			298,250
India - 1.5%
ACC Ltd.	699		17,063
Adani Enterprises Ltd.	5,076		40,050
Adani Ports & Special Economic Zone	16,830		78,228
Aditya Birla Nuvo Ltd.	1,603		43,902
Ambuja Cements Ltd.	22,620		83,783
Apollo Hospitals Enterprise Ltd. (a)	3,275		59,433
Asian Paints India Ltd.	10,735		114,689
Aurobindo Pharma Ltd.	5,200		82,007
Bajaj Auto Ltd. (a)	2,945		125,171
Bharat Heavy Electricals Ltd.	22,473		93,887
Bharat Petroleum Corp. Ltd.	6,682		78,227
Bharti Airtel Ltd. (a)	20,467		132,994
Cairn India Ltd.	14,258		66,048
Cipla Ltd.	13,113		142,376
Coal India Ltd.	18,705		112,790
Dabur India Ltd.	20,469		75,446
Common Stocks - continued
	Shares		Value
India - continued
Divi's Laboratories Ltd. (a)	1,841		$ 56,149
DLF Ltd. (a)	17,033		34,636
Dr. Reddy's Laboratories Ltd. (a)	4,656		239,999
GAIL India Ltd.	10,902		93,702
GlaxoSmithKline Consumer Healthcare Ltd.	360		32,415
Godrej Consumer Products Ltd.	4,245		67,023
HCL Technologies Ltd.	9,017		236,481
HDFC Bank Ltd.	14,354		232,755
Hero Motocorp Ltd.	3,219		160,739
Hindalco Industries Ltd. (a)	44,119		117,330
Hindustan Unilever Ltd.	28,770		345,704
Housing Development Finance Corp. Ltd.	55,918		1,007,041
ICICI Bank Ltd. (a)	7,850		208,472
Idea Cellular Ltd. (a)	36,257		96,056
Infosys Ltd.	16,706		1,107,361
Infosys Ltd. sponsored ADR	600		40,116
ITC Ltd. (a)	84,114		486,339
Jaiprakash Associates Ltd. (a)	35,857		18,187
Jindal Steel & Power Ltd.	11,844		31,207
JSW Steel Ltd.	2,648		54,380
Larsen & Toubro Ltd. (a)	11,678		314,713
LIC Housing Finance Ltd.	7,810		45,991
Mahindra & Mahindra Financial Services Ltd.	11,836		56,543
Mahindra & Mahindra Ltd. (a)	12,409		263,838
Nestle India Ltd.	784		81,008
NTPC Ltd.	61,895		151,153
Oil & Natural Gas Corp. Ltd.	28,254		184,895
Oil India Ltd.	3,956		40,709
Piramal Enterprises Ltd. (a)	2,759		36,222
Power Finance Corp. Ltd.	8,121		37,336
Power Grid Corp. of India Ltd.	35,757		84,840
Ranbaxy Laboratories Ltd. (a)	4,891		50,423
Reliance Capital Ltd. (a)	4,027		31,130
Reliance Communication Ltd. (a)	35,514		61,323
Reliance Industries Ltd.	48,806		792,066
Reliance Infrastructure Ltd. (a)	4,106		42,579
Reliance Power Ltd. (a)	12,443		15,455
Rural Electrification Corp. Ltd.	8,729		42,878
Sesa Sterlite Ltd.	43,746		182,520
Shriram Transport Finance Co. Ltd.	4,923		76,157
Siemens India Ltd.	2,168		30,814
State Bank of India	5,306		233,498
Common Stocks - continued
	Shares		Value
India - continued
Sun Pharmaceutical Industries Ltd.	27,412		$ 377,240
Tata Consultancy Services Ltd.	17,714		753,687
Tata Motors Ltd. (a)	28,657		250,366
Tata Power Co. Ltd. (a)	36,963		56,424
Tata Steel Ltd.	11,262		89,888
Tech Mahindra Ltd.	2,434		99,774
Ultratech Cemco Ltd. (a)	1,011		41,941
United Breweries Ltd.	2,406		27,366
United Spirits Ltd. (a)	2,483		111,698
Wipro Ltd.	22,998		212,436
Yes Bank Ltd.	6,298		71,317
TOTAL INDIA			10,960,414
Indonesia - 0.5%
PT Adaro Energy Tbk	507,200		47,696
PT Astra Agro Lestari Tbk	10,500		20,422
PT Astra International Tbk	746,600		418,627
PT Bank Central Asia Tbk	471,100		508,572
PT Bank Danamon Indonesia Tbk Series A	98,500		34,352
PT Bank Mandiri (Persero) Tbk	361,700		310,647
PT Bank Negara Indonesia (Persero) Tbk	305,700		150,669
PT Bank Rakyat Indonesia Tbk	423,900		388,460
PT Bumi Serpong Damai Tbk	223,500		29,701
PT Charoen Pokphand Indonesia Tbk	291,100		101,237
PT Global Mediacom Tbk	189,400		30,740
PT Gudang Garam Tbk	16,500		78,960
PT Indo Tambangraya Megah Tbk	17,400		30,530
PT Indocement Tunggal Prakarsa Tbk	58,700		116,343
PT Indofood CBP Sukses Makmur Tbk	33,500		30,635
PT Indofood Sukses Makmur Tbk	148,800		84,048
PT Jasa Marga Tbk	71,500		37,591
PT Kalbe Farma Tbk	752,100		106,191
PT Lippo Karawaci Tbk	694,800		61,540
PT Matahari Department Store Tbk	79,900		96,741
PT Media Nusantara Citra Tbk	207,100		48,012
PT Perusahaan Gas Negara Tbk Series B	422,300		208,021
PT Semen Gresik (Persero) Tbk	108,500		142,520
PT Surya Citra Media Tbk	148,500		41,568
PT Tambang Batubara Bukit Asam Tbk	40,200		43,129
PT Telkomunikasi Indonesia Tbk Series B	1,927,500		438,983
PT Tower Bersama Infrastructure Tbk	73,600		54,213
PT Unilever Indonesia Tbk	55,600		139,988
Common Stocks - continued
	Shares		Value
Indonesia - continued
PT United Tractors Tbk	59,800		$ 90,836
PT XL Axiata Tbk	112,800		51,583
TOTAL INDONESIA			3,942,555
Ireland - 0.2%
Bank of Ireland (a)	1,041,762		410,095
CRH PLC	27,653		613,439
CRH PLC sponsored ADR	800		17,928
James Hardie Industries PLC CDI	16,178		172,565
Kerry Group PLC Class A	5,932		402,831
Ryanair Holdings PLC (a)	827		7,882
Ryanair Holdings PLC sponsored ADR (a)	570		31,658
TOTAL IRELAND			1,656,398
Isle of Man - 0.0%
Genting Singapore PLC	222,000		190,136
Israel - 0.4%
Bank Hapoalim BM (Reg.)	40,931		208,293
Bank Leumi le-Israel BM (a)	49,803		176,387
Bezeq The Israel Telecommunication Corp. Ltd.	70,492		119,173
Delek Group Ltd.	165		56,441
Israel Chemicals Ltd.	16,256		109,202
Israel Corp. Ltd. (Class A) (a)	96		46,984
Mizrahi Tefahot Bank Ltd. (a)	4,893		53,842
NICE Systems Ltd.	1,282		51,975
NICE Systems Ltd. sponsored ADR	773		31,446
Teva Pharmaceutical Industries Ltd.	22,250		1,255,954
Teva Pharmaceutical Industries Ltd. sponsored ADR	9,942		561,425
TOTAL ISRAEL			2,671,122
Italy - 1.4%
Assicurazioni Generali SpA	43,914		899,204
Atlantia SpA	15,673		369,244
Banca Monte dei Paschi di Siena SpA (a)	165,979		126,462
Banco Popolare Societa Cooperativa (a)	14,091		203,775
Enel Green Power SpA	64,283		157,729
Enel SpA	247,492		1,262,289
Eni SpA	95,538		2,035,428
EXOR SpA	3,698		161,037
Finmeccanica SpA (a)	15,092		135,981
Intesa Sanpaolo SpA	434,758		1,278,084
Intesa Sanpaolo SpA (Risparmio Shares)	37,277		95,016
Common Stocks - continued
	Shares		Value
Italy - continued
Luxottica Group SpA	6,148		$ 313,595
Mediobanca SpA	22,890		201,366
Pirelli & C. SpA	8,879		118,833
Prysmian SpA	7,390		127,799
Saipem SpA (a)	10,427		163,332
Snam Rete Gas SpA	77,691		419,615
Telecom Italia SpA (a)	374,592		424,518
Terna SpA	54,828		276,068
UniCredit SpA	165,948		1,197,837
Unione di Banche Italiane ScpA	30,989		242,517
Unipolsai SpA	36,088		96,779
TOTAL ITALY			10,306,508
Japan - 14.1%
ABC-MART, Inc.	1,100		63,427
ACOM Co. Ltd. (a)	14,900		49,665
Advantest Corp.	5,800		67,632
AEON Co. Ltd.	24,600		243,413
AEON Financial Service Co. Ltd.	3,900		81,504
AEON Mall Co. Ltd.	4,070		74,708
Air Water, Inc.	5,000		79,702
Aisin Seiki Co. Ltd.	7,300		243,154
Ajinomoto Co., Inc.	22,000		415,374
Alfresa Holdings Corp.	6,800		86,291
All Nippon Airways Ltd.	48,000		111,296
Amada Co. Ltd.	14,200		124,016
Aozora Bank Ltd.	42,000		147,626
Asahi Glass Co. Ltd.	38,000		197,778
Asahi Group Holdings	14,800		459,079
Asahi Kasei Corp.	48,000		393,898
Asics Corp.	6,400		149,868
Astellas Pharma, Inc.	80,700		1,252,504
Bandai Namco Holdings, Inc.	6,600		163,797
Bank of Kyoto Ltd.	13,000		112,652
Bank of Yokohama Ltd.	45,000		260,066
Benesse Holdings, Inc.	2,000		63,109
Bridgestone Corp.	24,500		818,735
Brother Industries Ltd.	9,000		160,241
Calbee, Inc.	2,700		94,566
Canon, Inc.	42,500		1,303,908
Casio Computer Co. Ltd. (d)	7,900		125,970
Central Japan Railway Co.	5,400		805,405
Common Stocks - continued
	Shares		Value
Japan - continued
Chiba Bank Ltd.	28,000		$ 198,884
Chiyoda Corp.	6,000		61,811
Chubu Electric Power Co., Inc. (a)	24,700		296,390
Chugai Pharmaceutical Co. Ltd.	8,100		253,228
Chugoku Electric Power Co., Inc.	11,300		149,022
Citizen Holdings Co. Ltd.	9,400		61,752
Credit Saison Co. Ltd.	5,300		111,885
Dai Nippon Printing Co. Ltd.	21,000		206,993
Dai-ichi Mutual Life Insurance Co.	40,100		606,862
Daicel Chemical Industries Ltd.	10,000		115,275
Daido Steel Co. Ltd.	11,000		42,199
Daihatsu Motor Co. Ltd.	7,600		107,866
Daiichi Sankyo Kabushiki Kaisha	23,500		353,483
Daikin Industries Ltd.	8,800		550,071
Dainippon Sumitomo Pharma Co. Ltd.	5,400		63,698
Daito Trust Construction Co. Ltd.	2,700		336,422
Daiwa House Industry Co. Ltd.	22,600		427,583
Daiwa Securities Group, Inc.	63,000		497,887
DeNA Co. Ltd. (d)	4,400		56,858
DENSO Corp.	18,300		838,755
Dentsu, Inc.	7,900		293,718
Don Quijote Holdings Co. Ltd.	2,300		137,807
East Japan Railway Co.	12,700		991,911
Eisai Co. Ltd.	9,600		375,448
Electric Power Development Co. Ltd.	4,300		150,376
FamilyMart Co. Ltd.	2,000		80,306
Fanuc Corp.	7,200		1,268,898
Fast Retailing Co. Ltd.	2,000		743,515
Fuji Electric Co. Ltd.	20,000		87,869
Fuji Heavy Industries Ltd.	22,100		735,558
Fujifilm Holdings Corp.	17,400		584,093
Fujitsu Ltd.	71,000		431,642
Fukuoka Financial Group, Inc.	27,000		138,160
GREE, Inc. (d)	2,900		20,769
GungHo Online Entertainment, Inc. (d)	16,900		68,117
Gunma Bank Ltd.	14,000		87,367
Hakuhodo DY Holdings, Inc.	8,500		84,061
Hamamatsu Photonics K.K.	2,700		122,662
Hankyu Hanshin Holdings, Inc.	42,000		246,942
Hikari Tsushin, Inc.	500		33,168
Hino Motors Ltd.	9,900		144,868
Hirose Electric Co. Ltd.	1,100		134,871
Common Stocks - continued
	Shares		Value
Japan - continued
Hiroshima Bank Ltd.	18,000		$ 89,989
Hisamitsu Pharmaceutical Co., Inc.	2,100		70,689
Hitachi Chemical Co. Ltd.	4,200		74,027
Hitachi Construction Machinery Co. Ltd.	3,900		79,772
Hitachi High-Technologies Corp.	2,000		61,099
Hitachi Ltd.	182,000		1,430,060
Hitachi Metals Ltd.	8,000		135,062
Hokuhoku Financial Group, Inc.	50,000		100,444
Hokuriku Electric Power Co., Inc.	6,000		81,002
Honda Motor Co. Ltd.	61,300		1,959,715
Hoya Corp.	16,500		583,883
Hulic Co. Ltd.	8,800		97,359
Ibiden Co. Ltd.	4,200		63,134
Idemitsu Kosan Co. Ltd.	3,400		65,755
Iida Group Holdings Co. Ltd.	6,800		75,563
INPEX Corp.	32,300		413,131
Isetan Mitsukoshi Holdings Ltd.	12,700		172,899
Ishikawajima-Harima Heavy Industries Co. Ltd.	53,000		255,493
Isuzu Motors Ltd.	22,500		293,566
Itochu Corp.	56,900		687,838
ITOCHU Techno-Solutions Corp.	700		27,831
Iyo Bank Ltd.	9,600		102,513
J. Front Retailing Co. Ltd.	8,500		113,134
Japan Airlines Co. Ltd.	4,800		128,890
Japan Display, Inc.	13,200		39,183
Japan Exchange Group, Inc.	9,400		233,177
Japan Prime Realty Investment Corp.	27		99,432
Japan Real Estate Investment Corp.	48		261,564
Japan Retail Fund Investment Corp.	85		171,143
Japan Tobacco, Inc.	41,400		1,412,529
JFE Holdings, Inc.	18,800		372,991
JGC Corp.	8,000		205,598
Joyo Bank Ltd.	27,000		144,576
JSR Corp.	6,100		109,850
JTEKT Corp.	7,300		117,407
JX Holdings, Inc.	84,500		361,969
Kajima Corp.	31,000		137,936
Kakaku.com, Inc.	5,000		68,077
Kamigumi Co. Ltd.	9,000		86,777
Kaneka Corp.	11,000		60,438
Kansai Electric Power Co., Inc. (a)	26,900		265,651
Kansai Paint Co. Ltd.	9,000		137,579
Common Stocks - continued
	Shares		Value
Japan - continued
Kao Corp.	19,400		$ 756,486
Kawasaki Heavy Industries Ltd.	54,000		212,106
KDDI Corp.	21,900		1,438,161
Keihin Electric Express Railway Co. Ltd.	18,000		149,758
Keio Corp.	23,000		174,702
Keisei Electric Railway Co.	11,000		129,289
Keyence Corp.	1,710		828,636
Kikkoman Corp.	6,000		138,007
Kintetsu Corp.	71,000		246,980
Kirin Holdings Co. Ltd.	30,900		400,612
Kobe Steel Ltd.	112,000		177,951
Koito Manufacturing Co. Ltd.	3,800		114,503
Komatsu Ltd.	35,200		831,049
Konami Corp.	3,500		70,274
Konica Minolta, Inc.	18,300		204,480
Kubota Corp.	42,000		668,557
Kuraray Co. Ltd.	12,800		148,673
Kurita Water Industries Ltd.	3,600		77,686
Kyocera Corp.	12,000		553,098
Kyowa Hakko Kirin Co., Ltd.	8,000		93,307
Kyushu Electric Power Co., Inc. (a)	15,200		164,915
Lawson, Inc.	2,300		156,026
LIXIL Group Corp.	9,700		212,725
M3, Inc.	7,300		121,826
Mabuchi Motor Co. Ltd.	900		77,737
Makita Corp.	4,600		257,596
Marubeni Corp.	63,400		407,627
Marui Group Co. Ltd.	8,700		73,526
Maruichi Steel Tube Ltd.	1,500		35,423
Mazda Motor Corp.	20,300		479,624
McDonald's Holdings Co. (Japan) Ltd.	2,500		61,019
Medipal Holdings Corp.	5,100		56,529
Meiji Holdings Co. Ltd.	2,200		184,586
Miraca Holdings, Inc.	1,900		79,761
Mitsubishi Chemical Holdings Corp.	50,500		248,757
Mitsubishi Corp.	53,000		1,039,243
Mitsubishi Electric Corp.	73,000		941,247
Mitsubishi Estate Co. Ltd.	47,000		1,197,314
Mitsubishi Gas Chemical Co., Inc.	13,000		77,781
Mitsubishi Heavy Industries Ltd.	114,000		711,136
Mitsubishi Logistics Corp.	4,000		60,926
Mitsubishi Materials Corp.	43,000		134,586
Common Stocks - continued
	Shares		Value
Japan - continued
Mitsubishi Motors Corp. of Japan	24,600		$ 253,114
Mitsubishi Tanabe Pharma Corp.	8,700		132,303
Mitsubishi UFJ Financial Group, Inc.	479,100		2,792,777
Mitsubishi UFJ Lease & Finance Co. Ltd.	18,700		98,728
Mitsui & Co. Ltd.	64,400		972,380
Mitsui Chemicals, Inc.	33,000		95,591
Mitsui Fudosan Co. Ltd.	35,000		1,125,825
Mitsui OSK Lines Ltd.	39,000		123,215
Mizuho Financial Group, Inc.	866,400		1,578,855
MS&AD Insurance Group Holdings, Inc.	19,100		412,880
Murata Manufacturing Co. Ltd.	7,600		853,940
Nabtesco Corp.	4,700		113,742
Nagoya Railroad Co. Ltd.	31,000		132,553
NEC Corp.	100,000		353,638
New Hampshire Foods Ltd.	6,000		138,358
Nexon Co. Ltd.	5,000		44,061
NGK Insulators Ltd.	10,000		215,380
NGK Spark Plug Co. Ltd.	6,700		174,739
NHK Spring Co. Ltd.	6,300		57,660
Nidec Corp.	7,700		508,759
Nikon Corp.	12,900		176,751
Nintendo Co. Ltd.	3,900		420,334
Nippon Building Fund, Inc.	55		308,256
Nippon Electric Glass Co. Ltd.	14,000		65,101
Nippon Express Co. Ltd.	34,000		149,565
Nippon Paint Holdings Co. Ltd.	6,000		136,244
Nippon Prologis REIT, Inc.	56		129,947
Nippon Steel & Sumitomo Metal Corp.	286,700		756,557
Nippon Telegraph & Telephone Corp.	14,100		877,286
Nippon Yusen KK	64,000		165,924
Nissan Motor Co. Ltd.	93,400		851,967
Nisshin Seifun Group, Inc.	7,095		71,745
Nissin Food Holdings Co. Ltd.	2,400		126,492
Nitori Holdings Co. Ltd.	2,700		171,114
Nitto Denko Corp.	5,700		308,279
NKSJ Holdings, Inc.	12,750		321,053
NOK Corp.	3,600		91,204
Nomura Holdings, Inc.	136,800		854,506
Nomura Real Estate Holdings, Inc.	4,800		84,835
Nomura Research Institute Ltd.	4,100		135,234
NSK Ltd.	17,000		222,667
NTT Data Corp.	5,000		195,457
Common Stocks - continued
	Shares		Value
Japan - continued
NTT DOCOMO, Inc.	57,300		$ 966,415
NTT Urban Development Co.	4,500		50,931
Obayashi Corp.	25,000		171,566
Odakyu Electric Railway Co. Ltd.	23,000		215,862
Oji Holdings Corp.	31,000		112,082
Olympus Corp. (a)	9,000		323,146
OMRON Corp.	7,800		369,210
Ono Pharmaceutical Co. Ltd.	3,100		312,928
Oracle Corp. Japan	1,300		50,327
Oriental Land Co. Ltd.	1,900		406,294
ORIX Corp.	49,900		692,624
Osaka Gas Co. Ltd.	72,000		287,196
Otsuka Corp.	1,900		70,648
Otsuka Holdings Co. Ltd.	14,700		515,647
Panasonic Corp.	83,000		998,594
Park24 Co. Ltd.	3,700		55,987
Rakuten, Inc.	30,300		341,677
Recruit Holdings Co. Ltd. (a)	5,000		170,893
Resona Holdings, Inc.	81,000		463,303
Ricoh Co. Ltd.	26,100		269,544
Rinnai Corp.	1,300		115,475
ROHM Co. Ltd.	3,600		219,135
Sankyo Co. Ltd. (Gunma)	2,000		72,782
Sanrio Co. Ltd. (d)	2,100		60,716
Santen Pharmaceutical Co. Ltd.	2,700		161,154
SBI Holdings, Inc. Japan	7,230		83,373
Secom Co. Ltd.	8,000		493,001
Sega Sammy Holdings, Inc.	7,000		111,199
Seibu Holdings, Inc.	4,500		86,521
Seiko Epson Corp.	5,000		232,024
Sekisui Chemical Co. Ltd.	16,000		199,414
Sekisui House Ltd.	21,100		262,376
Seven & i Holdings Co., Ltd.	28,400		1,109,194
Seven Bank Ltd.	22,400		93,551
Sharp Corp. (a)(d)	57,000		143,552
Shikoku Electric Power Co., Inc. (a)	6,500		89,198
Shimadzu Corp.	9,000		78,312
Shimamura Co. Ltd.	800		70,362
SHIMANO, Inc.	2,900		384,556
SHIMIZU Corp.	22,000		162,354
Shin-Etsu Chemical Co., Ltd.	15,400		988,505
Shinsei Bank Ltd.	65,000		146,079
Common Stocks - continued
	Shares		Value
Japan - continued
Shionogi & Co. Ltd.	11,300		$ 295,628
Shiseido Co. Ltd.	13,200		219,043
Shizuoka Bank Ltd.	20,000		206,655
Showa Shell Sekiyu K.K.	6,700		57,488
SMC Corp.	2,100		595,630
SoftBank Corp.	36,100		2,628,059
Sony Corp.	39,300		775,912
Sony Financial Holdings, Inc.	7,000		111,753
Stanley Electric Co. Ltd.	5,700		115,885
Sumitomo Chemical Co. Ltd.	58,000		198,965
Sumitomo Corp.	42,900		457,731
Sumitomo Electric Industries Ltd.	28,400		388,188
Sumitomo Heavy Industries Ltd.	20,000		109,649
Sumitomo Metal Mining Co. Ltd.	20,000		277,450
Sumitomo Mitsui Financial Group, Inc.	47,800		1,949,423
Sumitomo Mitsui Trust Holdings, Inc.	126,000		514,423
Sumitomo Realty & Development Co. Ltd.	14,000		524,846
Sumitomo Rubber Industries Ltd.	5,900		81,544
Suntory Beverage & Food Ltd.	5,300		189,075
Suzuken Co. Ltd.	2,700		72,389
Suzuki Motor Corp.	13,700		459,204
Sysmex Corp.	5,500		234,796
T&D Holdings, Inc.	21,300		274,376
Taiheiyo Cement Corp.	44,000		161,434
Taisei Corp.	38,000		211,316
Taisho Pharmaceutical Holdings Co. Ltd.	1,100		77,208
Taiyo Nippon Sanso Corp. (d)	8,000		72,025
Takashimaya Co. Ltd.	9,000		76,667
Takeda Pharmaceutical Co. Ltd.	29,700		1,287,446
TDK Corp.	4,600		261,106
Teijin Ltd.	37,000		90,458
Terumo Corp.	11,600		289,984
The Chugoku Bank Ltd.	5,700		84,249
The Hachijuni Bank Ltd.	17,000		104,088
The Suruga Bank Ltd.	7,100		148,435
THK Co. Ltd.	4,100		103,127
Tobu Railway Co. Ltd.	37,000		187,170
Toho Co. Ltd.	3,900		89,457
Toho Gas Co. Ltd.	15,000		81,126
Tohoku Electric Power Co., Inc.	16,300		203,721
Tokio Marine Holdings, Inc.	26,100		836,978
Tokyo Electric Power Co., Inc. (a)	54,400		196,151
Common Stocks - continued
	Shares		Value
Japan - continued
Tokyo Electron Ltd.	6,300		$ 403,923
Tokyo Gas Co. Ltd.	91,000		524,553
Tokyo Tatemono Co. Ltd.	15,000		130,940
Tokyu Corp.	44,000		290,525
Tokyu Fudosan Holdings Corp.	16,700		118,692
TonenGeneral Sekiyu K.K.	11,000		96,008
Toppan Printing Co. Ltd.	21,000		142,889
Toray Industries, Inc.	56,000		375,952
Toshiba Corp.	152,000		671,250
Toto Ltd.	10,000		112,839
Toyo Seikan Group Holdings Ltd.	5,900		71,547
Toyo Suisan Kaisha Ltd.	3,000		103,609
Toyoda Gosei Co. Ltd.	2,500		48,029
Toyota Industries Corp.	6,000		285,698
Toyota Motor Corp.	103,600		6,234,359
Toyota Tsusho Corp.	8,200		206,764
Trend Micro, Inc.	3,900		131,413
Unicharm Corp.	14,400		334,850
United Urban Investment Corp.	94		148,351
USS Co. Ltd.	8,500		133,773
West Japan Railway Co.	6,300		300,292
Yahoo! Japan Corp.	51,400		185,174
Yakult Honsha Co. Ltd.	3,300		182,752
Yamada Denki Co. Ltd. (d)	32,200		103,221
Yamaguchi Financial Group, Inc.	7,000		66,856
Yamaha Corp.	5,900		80,871
Yamaha Motor Co. Ltd.	9,800		185,394
Yamato Holdings Co. Ltd.	13,200		282,245
Yamato Kogyo Co. Ltd.	1,400		45,353
Yamazaki Baking Co. Ltd.	4,000		49,451
Yaskawa Electric Corp.	9,100		117,956
Yokogawa Electric Corp.	8,100		112,695
Yokohama Rubber Co. Ltd.	7,000		63,543
TOTAL JAPAN			102,740,132
Korea (South) - 2.8%
AMOREPACIFIC Corp.	125		267,580
AMOREPACIFIC Group, Inc.	106		116,710
BS Financial Group, Inc.	7,342		113,774
Celltrion, Inc. (a)	2,173		84,841
Cheil Worldwide, Inc. (a)	3,326		51,696
CJ CheilJedang Corp.	265		96,436
Common Stocks - continued
	Shares		Value
Korea (South) - continued
CJ Corp.	507		$ 82,106
Coway Co. Ltd.	1,950		148,095
Daelim Industrial Co.	1,023		67,505
Daewoo Engineering & Construction Co. Ltd. (a)	3,400		20,727
Daewoo International Corp.	1,866		58,788
Daewoo Securities Co. Ltd. (a)	7,185		74,896
Daewoo Shipbuilding & Marine Engineering Co. Ltd.	3,514		59,851
DGB Financial Group Co. Ltd.	5,366		76,162
Dongbu Insurance Co. Ltd.	1,419		79,109
Doosan Co. Ltd.	194		20,042
Doosan Heavy Industries & Construction Co. Ltd.	2,175		47,470
Doosan Infracore Co. Ltd. (a)	5,236		52,631
E-Mart Co. Ltd.	735		135,447
GS Engineering & Construction Corp. (a)	1,953		51,077
GS Holdings Corp.	1,896		73,144
Halla Visteon Climate Control Corp.	1,490		66,218
Hana Financial Group, Inc.	10,851		374,174
Hankook Tire Co. Ltd.	2,889		147,886
Hanwha Chemical Corp.	3,824		43,242
Hanwha Corp.	1,918		48,912
Hanwha Life Insurance Co. Ltd.	8,754		66,891
Hite Jinro Co. Ltd.	830		20,432
Hotel Shilla Co.	1,255		117,389
Hyosung Corp.	915		54,077
Hyundai Department Store Co. Ltd.	568		71,631
Hyundai Engineering & Construction Co. Ltd.	2,692		121,641
Hyundai Fire & Marine Insurance Co. Ltd.	2,491		65,495
Hyundai Glovis Co. Ltd.	508		125,765
Hyundai Heavy Industries Co. Ltd.	1,516		139,967
Hyundai Industrial Development & Construction Co.	1,930		72,480
Hyundai Merchant Marine Co. Ltd. (a)	1,916		20,507
Hyundai Mipo Dockyard Co. Ltd.	451		31,859
Hyundai Mobis	2,556		594,726
Hyundai Motor Co.	5,791		916,259
Hyundai Steel Co.	2,554		161,877
Hyundai Wia Corp.	599		102,858
Industrial Bank of Korea	9,306		135,548
Kangwon Land, Inc.	4,158		135,447
KB Financial Group, Inc.	14,476		564,437
KCC Corp.	190		104,687
Kia Motors Corp.	9,975		483,689
Korea Aerospace Industries Ltd.	1,799		69,151
Common Stocks - continued
	Shares		Value
Korea (South) - continued
Korea Electric Power Corp.	9,820		$ 428,764
Korea Gas Corp. (a)	1,041		48,541
Korea Investment Holdings Co. Ltd.	1,498		75,427
Korea Zinc Co. Ltd.	325		121,749
Korean Air Lines Co. Ltd. (a)	1,042		36,804
KT Corp.	2,367		72,538
KT&G Corp.	4,211		372,327
Kumho Petro Chemical Co. Ltd.	376		27,051
LG Chemical Ltd.	1,679		312,533
LG Corp.	3,631		214,931
LG Display Co. Ltd. (a)	8,874		259,853
LG Electronics, Inc.	4,051		246,202
LG Household & Health Care Ltd.	343		198,883
LG Innotek Co. Ltd. (a)	393		30,908
LG Telecom Ltd.	7,250		74,224
Lotte Chemical Corp.	612		82,591
Lotte Confectionery Co. Ltd.	29		51,876
Lotte Shopping Co. Ltd.	417		115,074
LS Cable Ltd.	646		36,014
LS Industrial Systems Ltd.	546		32,065
Mirae Asset Securities Co. Ltd.	960		41,056
NAVER Corp.	1,054		739,653
NCSOFT Corp.	536		73,333
Oci Co. Ltd. (a)	558		47,779
Orion Corp.	145		111,337
Paradise Co. Ltd.	1,778		54,360
POSCO	2,453		704,749
S-Oil Corp.	1,597		60,420
S1 Corp.	748		51,795
Samsung C&T Corp.	4,730		318,284
Samsung Card Co. Ltd.	1,384		59,253
Samsung Electro-Mechanics Co. Ltd.	1,990		90,198
Samsung Electronics Co. Ltd.	4,131		4,782,901
Samsung Engineering Co. Ltd. (a)	987		56,587
Samsung Fire & Marine Insurance Co. Ltd.	1,256		336,080
Samsung Heavy Industries Co. Ltd.	5,676		137,615
Samsung Life Insurance Co. Ltd.	2,257		244,722
Samsung SDI Co. Ltd.	2,686		314,987
Samsung Securities Co. Ltd.	2,174		96,717
Samsung Techwin Co. Ltd.	1,193		36,419
Shinhan Financial Group Co. Ltd.	15,979		748,055
Shinsegae Co. Ltd.	277		51,175
Common Stocks - continued
	Shares		Value
Korea (South) - continued
SK C&C Co. Ltd.	722		$ 162,954
SK Energy Co. Ltd.	2,241		182,501
SK Holdings Co. Ltd.	945		146,880
SK Hynix, Inc. (a)	21,396		944,897
SK Networks Co. Ltd. (a)	4,762		48,531
SK Telecom Co. Ltd.	350		87,243
Woori Finance Holdings Co. Ltd. (a)	11,339		125,585
Woori Investment & Securities Co. Ltd.	5,211		56,744
Yuhan Corp.	276		45,339
TOTAL KOREA (SOUTH)			20,431,836
Luxembourg - 0.3%
Altice SA	3,118		194,155
ArcelorMittal SA (Netherlands) (d)	37,553		493,303
Millicom International Cellular SA (depository receipt)	2,412		196,641
RTL Group SA	1,417		132,220
SES SA (France) (depositary receipt)	11,463		395,752
Subsea 7 SA	10,398		111,997
Tenaris SA	17,662		349,259
TOTAL LUXEMBOURG			1,873,327
Malaysia - 0.8%
AirAsia Bhd	47,900		36,397
Alliance Financial Group Bhd	39,900		58,131
AMMB Holdings Bhd	74,600		153,751
Astro Malaysia Holdings Bhd	62,500		62,703
Axiata Group Bhd	92,900		199,074
Berjaya Sports Toto Bhd	16,139		17,708
British American Tobacco (Malaysia) Bhd	4,500		95,111
Bumi Armada Bhd	59,900		28,594
Bumiputra-Commerce Holdings Bhd	191,685		378,365
Dialog Group Bhd	128,822		63,520
DiGi.com Bhd	111,400		209,624
Felda Global Ventures Holdings Bhd	46,100		51,268
Gamuda Bhd	58,100		90,499
Genting Bhd	77,100		228,489
Genting Malaysia Bhd	116,100		151,773
Genting Plantations Bhd	5,000		16,069
Hong Leong Bank Bhd	24,100		107,104
Hong Leong Credit Bhd	9,200		50,603
IHH Healthcare Bhd	89,300		134,335
IJM Corp. Bhd	46,100		96,888
IOI Corp. Bhd	108,800		161,692
Common Stocks - continued
	Shares		Value
Malaysia - continued
IOI Properties Group Sdn Bhd	62,133		$ 51,944
Kuala Lumpur Kepong Bhd	19,100		133,486
Lafarge Malaysia Bhd	15,400		49,037
Malayan Banking Bhd	176,138		519,432
Malaysia Airports Holdings Bhd	22,556		49,499
Maxis Bhd	76,500		156,719
MISC Bhd	38,800		80,918
MMC Corp. Bhd	17,700		14,205
Petronas Chemicals Group Bhd	108,700		203,055
Petronas Dagangan Bhd	9,300		57,732
Petronas Gas Bhd	24,900		170,677
PPB Group Bhd	17,700		85,095
Public Bank Bhd	102,500		577,644
RHB Capital Bhd	21,906		58,575
SapuraKencana Petroleum Bhd	140,400		145,492
Sime Darby Bhd	117,301		345,071
Telekom Malaysia Bhd	37,816		82,766
Tenaga Nasional Bhd	106,700		433,332
UEM Land Holdings Bhd	41,700		23,830
UMW Holdings Bhd	20,800		73,916
YTL Corp. Bhd	147,126		74,238
YTL Power International Bhd	80,850		39,071
TOTAL MALAYSIA			5,817,432
Malta - 0.0%
Brait SA	12,000		90,171
Mauritius - 0.0%
Golden Agri-Resources Ltd.	255,000		103,339
Mexico - 1.1%
Alfa SA de CV Series A	104,100		331,713
America Movil S.A.B. de CV Series L	1,277,300		1,558,417
CEMEX S.A.B. de CV unit	459,213		565,736
Coca-Cola FEMSA S.A.B. de CV Series L	16,800		177,241
Compartamos S.A.B. de CV	39,200		87,300
Controladora Commercial Mexicana S.A.B. de CV unit	16,300		63,862
El Puerto de Liverpool S.A.B. de CV Class C	6,700		78,606
Embotelladoras Arca S.A.B. de CV	15,000		96,597
Fibra Uno Administracion SA de CV	87,400		303,746
Fomento Economico Mexicano S.A.B. de CV unit	73,300		705,008
Genomma Lab Internacional SA de CV (a)	28,600		72,189
Gruma S.A.B. de CV Series B	5,800		63,869
Common Stocks - continued
	Shares		Value
Mexico - continued
Grupo Aeroportuario del Pacifico SA de CV Series B	11,100		$ 75,521
Grupo Aeroportuario del Sureste SA de CV Series B	8,200		109,620
Grupo Bimbo S.A.B. de CV Series A	59,600		174,335
Grupo Carso SA de CV Series A1	22,400		127,983
Grupo Comercial Chedraui S.A.B. de CV	9,800		34,473
Grupo Financiero Banorte S.A.B. de CV Series O	94,300		604,963
Grupo Financiero Inbursa S.A.B. de CV Series O	91,100		273,579
Grupo Financiero Santander Mexico S.A.B. de CV	65,300		173,988
Grupo Lala S.A.B. de CV	20,000		45,893
Grupo Mexico SA de CV Series B	144,524		496,584
Grupo Televisa SA de CV	97,400		703,906
Industrias Penoles SA de CV	5,595		125,567
Kimberly-Clark de Mexico SA de CV Series A	57,000		131,937
Mexichem S.A.B. de CV	33,821		138,361
Minera Frisco S.A.B. de CV (a)	25,300		45,015
OHL Mexico S.A.B. de CV (a)	24,700		69,517
Promotora y Operadora de Infraestructura S.A.B. de CV (a)	10,100		138,747
Wal-Mart de Mexico SA de CV Series V	199,600		461,416
TOTAL MEXICO			8,035,689
Netherlands - 2.1%
AEGON NV	69,796		568,869
Airbus Group NV	22,084		1,317,309
Akzo Nobel NV	9,013		598,729
ASML Holding NV (Netherlands)	13,437		1,339,835
CNH Industrial NV	36,166		294,589
Corio NV	2,685		130,584
Delta Lloyd NV	7,904		180,022
Fiat Chrysler Automobiles NV (a)(d)	31,091		346,954
Fugro NV (Certificaten Van Aandelen)	2,814		38,861
Gemalto NV (d)	2,880		220,189
Heineken Holding NV	3,809		246,729
Heineken NV (Bearer)	8,620		643,700
ING Groep NV (Certificaten Van Aandelen) (a)	144,747		2,072,829
Koninklijke Ahold NV	35,033		585,647
Koninklijke Boskalis Westminster NV	3,195		170,222
Koninklijke KPN NV	120,623		397,059
Koninklijke Philips Electronics NV	36,483		1,019,988
OCI NV (a)	3,445		119,972
QIAGEN NV (a)	9,002		211,460
Randstad Holding NV	4,485		197,669
Reed Elsevier NV	26,320		605,731
Common Stocks - continued
	Shares		Value
Netherlands - continued
Royal DSM NV	6,411		$ 401,416
STMicroelectronics NV	24,061		160,721
TNT Express NV	17,206		99,852
Unilever NV (Certificaten Van Aandelen) (Bearer)	61,227		2,373,064
Vopak NV	2,710		135,706
Wolters Kluwer NV	11,563		308,496
Ziggo NV (a)	5,814		284,037
TOTAL NETHERLANDS			15,070,239
New Zealand - 0.1%
Auckland International Airport Ltd.	35,664		107,586
Contact Energy Ltd.	14,926		72,136
Fletcher Building Ltd.	26,150		175,302
Ryman Healthcare Group Ltd.	15,632		92,485
Spark New Zealand Ltd.	69,162		170,092
Xero Ltd. (a)	1,900		23,475
TOTAL NEW ZEALAND			641,076
Norway - 0.5%
Aker Solutions ASA (a)	6,234		40,390
DNB ASA	36,598		672,280
Gjensidige Forsikring ASA (d)	7,532		136,794
Norsk Hydro ASA	48,716		272,581
Orkla ASA	31,457		240,418
Statoil ASA	41,786		956,291
Telenor ASA	28,433		639,062
Yara International ASA	6,837		313,927
TOTAL NORWAY			3,271,743
Peru - 0.0%
Compania de Minas Buenaventura SA sponsored ADR	7,183		66,084
Philippines - 0.3%
Aboitiz Equity Ventures, Inc.	67,570		78,171
Aboitiz Power Corp.	50,900		46,417
Alliance Global Group, Inc.	78,800		44,322
Ayala Corp.	8,240		126,394
Ayala Land, Inc.	271,500		202,465
Bank of the Philippine Islands (BPI)	26,341		55,705
BDO Unibank, Inc.	60,673		132,171
DMCI Holdings, Inc.	148,450		53,523
Globe Telecom, Inc.	1,340		50,213
International Container Terminal Services, Inc.	18,640		48,067
Common Stocks - continued
	Shares		Value
Philippines - continued
JG Summit Holdings, Inc.	88,730		$ 125,840
Jollibee Food Corp.	17,430		75,966
Megaworld Corp.	370,000		40,807
Metro Pacific Investments Corp.	429,900		48,553
Metropolitan Bank & Trust Co.	13,465		24,706
Philippine Long Distance Telephone Co.	3,695		257,849
PNOC Energy Development Corp.	322,500		55,214
SM Investments Corp.	6,112		106,506
SM Prime Holdings, Inc.	256,900		99,864
Universal Robina Corp.	33,640		139,065
TOTAL PHILIPPINES			1,811,818
Poland - 0.3%
Alior Bank SA (a)	1,812		40,227
Bank Handlowy w Warszawie SA	1,424		48,096
Bank Millennium SA	14,420		35,737
Bank Polska Kasa Opieki SA	4,927		257,515
Bank Zachodni WBK SA	1,127		127,608
BRE Bank SA	523		77,395
Cyfrowy Polsat SA	7,044		53,876
ENEA SA	7,190		34,144
Energa SA	8,895		66,080
Eurocash SA	2,385		23,494
Getin Noble Bank SA (a)	50,626		39,067
Grupa Lotos SA (a)	2,043		15,790
Jastrzebska Spolka Weglowa SA (a)	1,239		10,646
KGHM Polska Miedz SA (Bearer)	5,207		200,751
LPP SA	35		104,388
Polish Oil & Gas Co. SA	62,500		93,306
Polska Grupa Energetyczna SA	31,746		208,229
Polski Koncern Naftowy Orlen SA	12,234		152,249
Powszechna Kasa Oszczednosci Bank SA	33,009		366,897
Powszechny Zaklad Ubezpieczen SA	2,140		320,749
Synthos SA	26,883		33,351
Tauron Polska Energia SA	35,470		55,374
Telekomunikacja Polska SA	23,433		70,244
Zaklady Azotowe w Tarnowie-Moscicach SA	1,912		35,598
TOTAL POLAND			2,470,811
Portugal - 0.1%
Banco Comercial Portugues SA (Reg.) (a)	1,249,144		140,883
Banco Espirito Santo SA (Reg.) (a)	82,039		1
Common Stocks - continued
	Shares		Value
Portugal - continued
Energias de Portugal SA	88,766		$ 381,655
Galp Energia SGPS SA Class B	13,904		201,506
Jeronimo Martins SGPS SA	9,011		78,808
TOTAL PORTUGAL			802,853
Qatar - 0.1%
Barwa Real Estate Co. (a)	3,100		36,563
Commercial Bank of Qatar (a)	1,300		26,382
Doha Bank (a)	1,000		15,927
Industries Qatar QSC (a)	2,991		154,743
Masraf al Rayan (a)	13,247		185,525
Qatar Electricity & Water Co.	1,000		50,034
Qatar Islamic Bank (a)	2,372		72,954
Qatar National Bank SAQ (a)	3,563		209,677
Qatar Telecom (Qtel) Q.S.C. (a)	3,241		109,916
Vodafone Qatar QSC (a)	13,379		76,051
TOTAL QATAR			937,772
Russia - 0.9%
Alrosa Co. Ltd. (a)	75,000		67,135
Federal Grid Co. of Unified Energy System (a)	3,696,897		4,608
Gazprom OAO sponsored ADR (Reg. S)	221,613		1,468,851
LUKOIL Oil Co. sponsored ADR (United Kingdom)	19,098		937,712
Magnit OJSC GDR (Reg. S)	9,787		655,729
Megafon OJSC GDR	3,269		76,495
Mobile TeleSystems OJSC sponsored ADR	19,491		278,721
Moscow Exchange MICEX-RTS OAO	49,675		66,988
Norilsk Nickel OJSC ADR	20,846		387,944
NOVATEK OAO GDR (Reg. S)	3,424		367,738
Rosneft Oil Co. OJSC GDR (Reg. S)	43,718		243,509
Rostelecom sponsored ADR	5,080		75,336
RusHydro JSC sponsored ADR	38,511		64,159
Sberbank (Savings Bank of the Russian Federation) (a)	1,860		3,297
Sberbank (Savings Bank of the Russian Federation) sponsored ADR	103,288		783,956
Severstal GDR (Reg. S)	8,141		86,050
Sistema JSFC sponsored GDR	5,971		48,216
Surgutneftegas sponsored ADR	46,841		308,214
Tatneft OAO sponsored ADR	9,067		323,057
Uralkali OJSC GDR (Reg. S)	9,767		174,536
VTB Bank OJSC sponsored GDR (Reg. S)	92,520		174,770
TOTAL RUSSIA			6,597,021
Common Stocks - continued
	Shares		Value
Singapore - 0.9%
Ascendas Real Estate Investment Trust	75,000		$ 130,273
CapitaCommercial Trust (REIT)	75,000		97,521
CapitaLand Ltd.	98,000		241,954
CapitaMall Trust	93,000		142,643
City Developments Ltd.	16,000		117,759
ComfortDelgro Corp. Ltd.	77,000		158,312
DBS Group Holdings Ltd.	64,991		934,923
Global Logistic Properties Ltd.	119,000		255,013
Hutchison Port Holdings Trust	196,000		132,341
Jardine Cycle & Carriage Ltd.	4,000		124,338
Keppel Corp. Ltd.	55,000		403,327
Keppel Land Ltd.	26,000		67,655
Olam International Ltd.	38,000		63,066
Oversea-Chinese Banking Corp. Ltd.	111,854		861,624
SembCorp Industries Ltd.	38,000		143,757
SembCorp Marine Ltd.	27,000		76,492
Singapore Airlines Ltd.	21,000		161,839
Singapore Exchange Ltd.	28,000		152,592
Singapore Press Holdings Ltd.	61,000		203,321
Singapore Technologies Engineering Ltd.	61,000		178,092
Singapore Telecommunications Ltd.	299,000		880,040
StarHub Ltd.	22,000		70,715
United Overseas Bank Ltd.	47,947		859,003
UOL Group Ltd.	16,385		82,298
Wilmar International Ltd.	73,000		181,966
Yangzijiang Shipbuilding Holdings Ltd.	77,000		67,780
TOTAL SINGAPORE			6,788,644
South Africa - 1.6%
African Bank Investments Ltd. (a)	42,096		0
African Rainbow Minerals Ltd.	3,892		47,954
Anglo American Platinum Ltd. (a)	1,879		59,278
AngloGold Ashanti Ltd. (a)	14,574		121,794
Aspen Pharmacare Holdings Ltd.	12,190		434,827
Assore Ltd.	947		17,574
Barclays Africa Group Ltd.	12,428		196,238
Barloworld Ltd.	7,406		64,305
Bidvest Group Ltd.	12,234		336,493
Coronation Fund Managers Ltd.	9,629		83,372
Discovery Holdings Ltd.	11,025		100,287
Exxaro Resources Ltd.	6,109		63,695
FirstRand Ltd.	117,926		504,645
Common Stocks - continued
	Shares		Value
South Africa - continued
Foschini Ltd.	7,194		$ 81,295
Gold Fields Ltd.	29,518		95,716
Growthpoint Properties Ltd.	82,248		199,473
Harmony Gold Mining Co. Ltd. (a)	16,218		26,198
Impala Platinum Holdings Ltd. (a)	19,863		144,591
Imperial Holdings Ltd.	7,429		127,939
Investec Ltd.	9,224		84,214
Kumba Iron Ore Ltd.	2,127		53,118
Liberty Holdings Ltd.	4,929		57,040
Life Healthcare Group Holdings Ltd.	35,287		133,409
Massmart Holdings Ltd.	4,285		46,281
Mediclinic International Ltd.	14,877		132,857
MMI Holdings Ltd.	41,530		106,143
Mr Price Group Ltd.	8,587		177,622
MTN Group Ltd.	63,385		1,402,202
Nampak Ltd.	19,680		80,238
Naspers Ltd. Class N	14,898		1,854,039
Nedbank Group Ltd.	7,433		161,899
Netcare Ltd.	37,924		114,669
Northam Platinum Ltd. (a)	14,320		44,103
Pick 'n Pay Stores Ltd.	8,814		42,617
Pretoria Portland Cement Co. Ltd.	18,687		50,149
Rand Merchant Insurance Holdings Ltd.	27,107		96,634
Redefine Properties Ltd.	121,336		109,898
Remgro Ltd.	18,469		423,608
RMB Holdings Ltd.	26,254		145,698
Sanlam Ltd.	69,613		439,588
Sappi Ltd. (a)	20,205		79,814
Sasol Ltd.	20,799		1,038,603
Shoprite Holdings Ltd.	16,534		239,516
Spar Group Ltd.	5,603		65,526
Standard Bank Group Ltd.	45,913		577,568
Steinhoff International Holdings Ltd.	77,833		397,995
Tiger Brands Ltd.	5,964		179,308
Truworths International Ltd.	15,047		102,999
Vodacom Group Ltd.	13,651		165,635
Woolworths Holdings Ltd.	35,953		255,523
TOTAL SOUTH AFRICA			11,564,187
Spain - 2.3%
Abertis Infraestructuras SA	14,829		308,570
ACS Actividades de Construccion y Servicios SA	6,554		242,698
Common Stocks - continued
	Shares		Value
Spain - continued
Amadeus IT Holding SA Class A	14,353		$ 527,003
Banco Bilbao Vizcaya Argentaria SA	223,047		2,494,756
Banco de Sabadell SA	128,580		370,599
Banco Popular Espanol SA	67,264		384,877
Banco Santander SA:
rights 11/3/14 (a)	451,444		85,991
(Spain)	451,444		3,988,747
Bankia SA (a)	167,759		299,994
Criteria CaixaCorp SA	67,858		369,993
Distribuidora Internacional de Alimentacion SA	22,188		140,804
Enagas SA	7,764		260,263
Ferrovial SA	15,863		323,626
Gas Natural SDG SA	12,866		370,991
Grifols SA	5,559		226,717
Iberdrola SA	191,121		1,351,038
Inditex SA	40,994		1,151,495
International Consolidated Airlines Group SA (a)	34,787		227,165
International Consolidated Airlines Group SA CDI (a)	3,400		22,256
MAPFRE SA (Reg.)	33,382		114,245
Red Electrica Corporacion SA	4,153		362,430
Repsol YPF SA	38,191		852,609
Telefonica SA	153,986		2,317,132
Zardoya Otis SA	7,238		84,263
TOTAL SPAIN			16,878,262
Sweden - 2.0%
Alfa Laval AB	11,625		238,981
ASSA ABLOY AB (B Shares)	12,522		663,225
Atlas Copco AB:
(A Shares)	25,518		736,427
(B Shares)	14,353		379,033
Boliden AB	10,086		166,230
Electrolux AB (B Shares)	8,904		252,621
Elekta AB (B Shares) (d)	12,885		131,919
Getinge AB (B Shares)	7,511		174,446
H&M Hennes & Mauritz AB (B Shares)	35,613		1,416,485
Hexagon AB (B Shares)	9,659		325,056
Husqvarna AB (B Shares)	15,601		115,991
Industrivarden AB (C Shares)	5,647		98,729
Investment AB Kinnevik (B Shares)	9,066		287,174
Investor AB (B Shares)	17,098		611,755
Lundin Petroleum AB (a)	7,886		111,816
Common Stocks - continued
	Shares		Value
Sweden - continued
Nordea Bank AB	113,938		$ 1,461,228
Sandvik AB	40,506		443,780
Securitas AB (B Shares)	11,450		126,375
Skandinaviska Enskilda Banken AB (A Shares)	56,690		726,268
Skanska AB (B Shares)	14,684		298,685
SKF AB (B Shares)	15,193		304,101
Svenska Cellulosa AB (SCA) (B Shares)	22,056		493,144
Svenska Handelsbanken AB (A Shares)	18,694		891,390
Swedbank AB (A Shares)	33,902		896,658
Swedish Match Co. AB	7,873		255,462
Tele2 AB (B Shares) (d)	12,141		154,061
Telefonaktiebolaget LM Ericsson (B Shares)	114,314		1,350,780
TeliaSonera AB	89,293		617,323
Volvo AB (B Shares)	57,814		665,114
TOTAL SWEDEN			14,394,257
Switzerland - 6.1%
ABB Ltd. (Reg.)	82,639		1,812,990
Actelion Ltd.	3,901		463,830
Adecco SA (Reg.)	6,434		434,996
Aryzta AG	3,260		277,328
Baloise Holdings AG	1,813		227,814
Barry Callebaut AG	78		81,636
Coca-Cola HBC AG	7,720		167,832
Compagnie Financiere Richemont SA Series A	19,588		1,648,026
Credit Suisse Group AG	57,061		1,520,322
Ems-Chemie Holding AG	314		112,836
Geberit AG (Reg.)	1,416		482,425
Givaudan SA	348		579,789
Holcim Ltd. (Reg.)	8,639		611,909
Julius Baer Group Ltd.	8,549		373,894
Kuehne & Nagel International AG	1,967		255,956
Lindt & Spruengli AG	4		239,568
Lindt & Spruengli AG (participation certificate)	33		165,523
Lonza Group AG	1,956		215,289
Nestle SA	121,173		8,886,096
Novartis AG	86,386		8,016,869
Pargesa Holding SA	1,247		96,880
Partners Group Holding AG	678		180,220
Roche Holding AG (participation certificate)	26,387		7,786,847
Schindler Holding AG:
(participation certificate)	1,754		245,011
Common Stocks - continued
	Shares		Value
Switzerland - continued
Schindler Holding AG: - continued
(Reg.)	807		$ 109,205
SGS SA (Reg.)	210		460,968
Sika AG (Bearer)	78		278,065
Sonova Holding AG Class B	2,058		320,416
Sulzer AG (Reg.)	896		101,879
Swatch Group AG (Bearer)	1,130		535,081
Swatch Group AG (Bearer) (Reg.)	2,006		169,504
Swiss Life Holding AG	1,185		271,448
Swiss Prime Site AG	2,147		163,120
Swiss Re Ltd.	13,203		1,066,230
Swisscom AG	872		513,421
Syngenta AG (Switzerland)	3,503		1,083,329
Transocean Ltd. (Switzerland) (d)	13,791		406,069
UBS AG	137,273		2,386,923
Zurich Insurance Group AG	5,592		1,690,125
TOTAL SWITZERLAND			44,439,669
Taiwan - 2.5%
Acer, Inc. (a)	108,000		74,101
Advanced Semiconductor Engineering, Inc.	226,916		273,314
Advantech Co. Ltd.	10,994		76,371
Asia Cement Corp.	75,466		97,271
Asia Pacific Telecom Co. Ltd.	71,000		42,002
ASUSTeK Computer, Inc.	27,000		275,245
AU Optronics Corp.	327,000		155,596
Catcher Technology Co. Ltd.	23,000		193,857
Cathay Financial Holding Co. Ltd.	306,285		504,082
Chang Hwa Commercial Bank	162,003		101,982
Cheng Shin Rubber Industry Co. Ltd.	57,899		135,017
Chicony Electronics Co. Ltd.	21,220		61,013
China Airlines Ltd. (a)	92,490		36,153
China Development Finance Holding Corp.	510,800		163,935
China Life Insurance Co. Ltd.	96,471		84,009
China Motor Co. Ltd.	11,000		10,010
China Steel Corp.	436,426		375,927
Chinatrust Financial Holding Co. Ltd.	507,724		355,502
Chunghwa Telecom Co. Ltd.	142,000		432,571
Clevo Co. Ltd.	13,161		23,333
Compal Electronics, Inc.	162,000		119,550
CTCI Corp.	17,000		27,749
Delta Electronics, Inc.	69,000		413,299
Common Stocks - continued
	Shares		Value
Taiwan - continued
E.SUN Financial Holdings Co. Ltd.	222,351		$ 140,614
ECLAT Textile Co. Ltd.	6,240		59,432
EPISTAR Corp.	30,000		54,165
EVA Airways Corp. (a)	76,400		44,693
Evergreen Marine Corp. (Taiwan) (a)	72,000		42,491
Far Eastern Department Stores Co. Ltd.	37,468		33,826
Far Eastern Textile Ltd.	108,691		114,115
Far EasTone Telecommunications Co. Ltd.	65,000		143,626
Farglory Land Development Co. Ltd.	21,398		21,131
First Financial Holding Co. Ltd.	296,178		182,065
Formosa Chemicals & Fibre Corp.	121,590		282,671
Formosa International Hotel Corp.	1,210		12,511
Formosa Petrochemical Corp.	39,000		91,403
Formosa Plastics Corp.	157,480		363,112
Formosa Taffeta Co. Ltd.	34,000		34,324
Foxconn Technology Co. Ltd.	36,413		97,005
Fubon Financial Holding Co. Ltd.	244,398		413,102
Giant Manufacturing Co. Ltd.	10,000		80,844
Hermes Microvision, Inc.	1,000		46,951
Highwealth Construction Corp.	24,600		42,510
HIWIN Technologies Corp.	7,324		57,854
Hon Hai Precision Industry Co. Ltd. (Foxconn)	468,696		1,481,110
Hotai Motor Co. Ltd.	10,000		146,103
HTC Corp. (a)	25,000		110,524
Hua Nan Financial Holdings Co. Ltd.	234,883		138,959
Innolux Corp.	299,427		136,624
Inotera Memories, Inc. (a)	79,000		121,902
Inventec Corp.	91,280		63,415
Kinsus Interconnect Technology Corp.	8,000		30,060
Largan Precision Co. Ltd.	4,000		280,559
Lite-On Technology Corp.	82,570		115,700
MediaTek, Inc.	52,970		755,389
Mega Financial Holding Co. Ltd.	372,632		308,578
Merida Industry Co. Ltd.	6,300		43,450
Nan Ya Plastics Corp.	180,780		373,554
Novatek Microelectronics Corp.	23,000		118,864
Pegatron Corp.	65,000		118,277
Phison Electronics Corp.	4,000		26,975
Pou Chen Corp.	86,000		94,683
Powertech Technology, Inc.	27,000		45,323
President Chain Store Corp.	22,000		164,550
Quanta Computer, Inc.	105,000		263,927
Common Stocks - continued
	Shares		Value
Taiwan - continued
Radiant Opto-Electronics Corp.	16,241		$ 56,663
Realtek Semiconductor Corp.	14,090		46,631
Ruentex Development Co. Ltd.	29,703		44,270
Ruentex Industries Ltd.	23,015		49,124
ScinoPharm Taiwan Ltd.	7,363		14,891
Shin Kong Financial Holding Co. Ltd.	272,412		82,612
Siliconware Precision Industries Co. Ltd.	110,000		156,672
Simplo Technology Co. Ltd.	10,200		49,546
Sinopac Holdings Co.	288,916		125,245
Standard Foods Corp.	12,944		29,818
Synnex Technology International Corp.	44,000		61,761
Taishin Financial Holdings Co. Ltd.	310,541		147,907
Taiwan Business Bank	168,473		50,603
Taiwan Cement Corp.	126,000		192,447
Taiwan Cooperative Financial Holding Co. Ltd.	224,739		120,016
Taiwan Fertilizer Co. Ltd.	28,000		49,598
Taiwan Glass Industry Corp.	44,225		34,256
Taiwan Mobile Co. Ltd.	65,600		212,535
Taiwan Semiconductor Manufacturing Co. Ltd.	926,000		4,007,833
TECO Electric & Machinery Co. Ltd.	74,000		82,210
Transcend Information, Inc.	10,000		33,735
TSRC Corp.	17,010		19,109
U-Ming Marine Transport Corp.	13,000		20,353
Unified-President Enterprises Corp.	169,231		290,537
Unimicron Technology Corp.	50,000		38,428
United Microelectronics Corp.	477,000		211,457
Vanguard International Semiconductor Corp.	36,000		54,001
Walsin Lihwa Corp. (a)	114,000		37,788
Wistron Corp.	90,047		94,457
WPG Holding Co. Ltd.	58,000		70,541
Yang Ming Marine Transport Corp. (a)	61,000		27,881
Yuanta Financial Holding Co. Ltd.	325,194		163,553
Yulon Motor Co. Ltd.	33,000		48,610
TOTAL TAIWAN			18,053,948
Thailand - 0.5%
Advanced Info Service PCL (For. Reg.)	37,800		277,466
Airports of Thailand PCL (For. Reg.)	16,500		122,567
Bangkok Bank PCL	18,400		114,099
Bangkok Bank PCL (For. Reg.)	21,000		130,222
Bangkok Dusit Medical Services PCL (For. Reg.)	109,000		61,879
Banpu PCL (For. Reg.)	46,300		40,158
Common Stocks - continued
	Shares		Value
Thailand - continued
BEC World PCL (For. Reg.)	34,100		$ 50,515
BTS Group Holdings PCL	168,800		53,408
Bumrungrad Hospital PCL (For. Reg.)	15,100		61,650
C.P. ALL PCL (For. Reg.)	161,600		225,679
Central Pattana PCL (For. Reg.)	48,500		71,884
Charoen Pokphand Foods PCL (For. Reg.)	105,500		101,233
Glow Energy PCL (For. Reg.)	21,000		64,539
Home Product Center PCL (For. Reg.)	104,850		29,923
Indorama Ventures PCL:
warrants 8/24/17 (a)	4,070		448
warrants 8/24/18 (a)	3,131		283
(For. Reg.)	40,700		29,857
IRPC PCL (For. Reg.)	378,700		39,744
Kasikornbank PCL	24,900		180,345
Kasikornbank PCL (For. Reg.)	43,200		312,887
Krung Thai Bank PCL (For. Reg.)	137,855		98,602
Minor International PCL:
warrants 10/16/17 (a)	3,135		598
(For. Reg.)	62,700		66,868
PTT Exploration and Production PCL (For. Reg.)	52,044		233,913
PTT Global Chemical PCL (For. Reg.)	64,439		122,274
PTT PCL (For. Reg.)	32,300		365,434
Siam Cement PCL	3,800		52,743
Siam Cement PCL (For. Reg.)	13,100		181,824
Siam Commercial Bank PCL (For. Reg.)	57,100		311,273
Thai Oil PCL (For. Reg.)	26,500		36,348
TMB PCL (For. Reg.)	367,100		34,692
True Corp. PCL (For. Reg.) (a)	377,932		136,964
TOTAL THAILAND			3,610,319
Turkey - 0.4%
Akbank T.A.S.	69,901		252,539
Anadolu Efes Biracilik Ve Malt Sanayii A/S (a)	8,245		96,448
Arcelik A/S	8,967		55,069
Bim Birlesik Magazalar A/S JSC	7,486		171,097
Coca-Cola Icecek Sanayi A/S	3,209		73,199
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S	69,285		77,931
Enka Insaat ve Sanayi A/S	21,313		51,589
Eregli Demir ve Celik Fabrikalari T.A.S.	47,337		98,608
Ford Otomotiv Sanayi A/S	3,001		38,345
Haci Omer Sabanci Holding A/S	34,746		158,672
Koc Holding A/S	25,001		127,668
Common Stocks - continued
	Shares		Value
Turkey - continued
Koza Altin Isletmeleri A/S	1,096		$ 7,076
TAV Havalimanlari Holding A/S	6,922		58,082
Tofas Turk Otomobil Fabrikasi A/S	3,937		24,710
Tupras Turkiye Petrol Rafinelleri A/S	4,323		93,845
Turk Hava Yollari AO (a)	21,476		70,438
Turk Sise ve Cam Fabrikalari A/S	14,301		21,748
Turk Telekomunikasyon A/S	18,793		54,029
Turkcell Iletisim Hizmet A/S (a)	34,068		198,047
Turkiye Garanti Bankasi A/S	88,294		344,602
Turkiye Halk Bankasi A/S	24,600		164,358
Turkiye Is Bankasi A/S Series C	60,812		152,122
Turkiye Vakiflar Bankasi TAO	26,198		56,341
Ulker Biskuvi Sanayi A/S	5,847		43,143
Yapi ve Kredi Bankasi A/S	28,498		62,441
TOTAL TURKEY			2,552,147
United Arab Emirates - 0.1%
Abu Dhabi Commercial Bank PJSC (a)	40,500		87,109
Aldar Properties PJSC (a)	115,000		100,191
Arabtec Holding Co. (a)	36,000		41,459
DP World Ltd.	5,953		114,059
Dubai Financial Market PJSC (a)	66,000		49,415
Dubai Islamic Bank Pakistan Ltd. (a)	25,269		52,010
Emaar Properties PJSC (a)	68,500		186,496
First Gulf Bank PJSC	16,000		79,063
National Bank of Abu Dhabi PJSC (a)	22,000		80,860
TOTAL UNITED ARAB EMIRATES			790,662
United Kingdom - 12.9%
3i Group PLC	35,492		225,346
Aberdeen Asset Management PLC	34,020		236,191
Admiral Group PLC	6,988		149,236
Aggreko PLC	9,359		227,868
AMEC PLC	11,207		186,450
Anglo American PLC (United Kingdom)	52,563		1,109,791
Antofagasta PLC	14,253		160,174
ARM Holdings PLC	53,009		750,468
ASOS PLC (a)	2,199		93,431
Associated British Foods PLC	13,418		591,140
AstraZeneca PLC (United Kingdom)	47,428		3,464,539
Aviva PLC	110,589		924,994
Babcock International Group PLC	18,981		332,485
Common Stocks - continued
	Shares		Value
United Kingdom - continued
BAE Systems PLC	118,831		$ 871,961
Barclays PLC	618,816		2,379,916
BG Group PLC	128,092		2,134,785
BHP Billiton PLC	79,441		2,052,486
BP PLC	669,718		4,818,557
BP PLC sponsored ADR	5,120		222,515
British American Tobacco PLC (United Kingdom)	70,357		3,987,665
British Land Co. PLC	36,389		424,071
British Sky Broadcasting Group PLC	38,967		552,293
BT Group PLC	297,105		1,751,532
Bunzl PLC	12,765		346,122
Burberry Group PLC	16,311		399,479
Capita Group PLC	25,032		439,279
Carnival PLC	6,668		265,893
Carphone Warehouse Group PLC	37,351		236,134
Centrica PLC	189,209		915,600
Cobham PLC	41,299		192,186
Compass Group PLC	63,206		1,017,173
Croda International PLC	5,212		191,349
Diageo PLC	94,252		2,779,717
Direct Line Insurance Group PLC	57,086		252,045
easyJet PLC	6,097		146,301
Fresnillo PLC	8,346		93,124
G4S PLC (United Kingdom)	56,081		229,216
GKN PLC	62,499		317,935
GlaxoSmithKline PLC	182,475		4,126,483
Hammerson PLC	26,100		255,941
Hargreaves Lansdown PLC	8,689		138,094
HSBC Holdings PLC (United Kingdom)	722,438		7,365,518
ICAP PLC	22,290		149,262
IMI PLC	9,835		192,258
Imperial Tobacco Group PLC	35,935		1,558,424
Inmarsat PLC	15,327		167,952
InterContinental Hotel Group PLC	8,674		329,483
Intertek Group PLC	6,150		267,795
Intu Properties PLC	32,144		175,036
Investec PLC	20,090		183,829
ITV PLC	144,245		468,420
J Sainsbury PLC (d)	47,037		184,727
Johnson Matthey PLC	7,757		369,040
Kingfisher PLC	87,496		423,871
Land Securities Group PLC	29,872		528,994
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Legal & General Group PLC	221,715		$ 819,305
Lloyds Banking Group PLC (a)	2,144,452		2,648,162
London Stock Exchange Group PLC	8,513		274,408
Marks & Spencer Group PLC	61,659		401,152
Meggitt PLC	29,761		214,763
Melrose PLC	38,821		159,043
National Grid PLC	140,218		2,080,830
Next PLC	5,827		600,768
Old Mutual PLC	184,042		569,687
Pearson PLC	30,824		576,917
Persimmon PLC	11,795		276,046
Prudential PLC	96,222		2,228,119
Reckitt Benckiser Group PLC	24,427		2,051,483
Reed Elsevier PLC	43,186		709,499
Rexam PLC	26,834		204,329
Rio Tinto PLC	47,830		2,275,820
Rolls-Royce Group PLC	70,724		953,746
Royal & Sun Alliance Insurance Group PLC	37,943		293,351
Royal Bank of Scotland Group PLC (a)	94,363		586,707
Royal Dutch Shell PLC:
Class A (Netherlands)	17,247		616,760
Class A (United Kingdom)	125,285		4,475,400
Class A sponsored ADR	2,561		183,854
Class B (United Kingdom)	92,001		3,399,016
Royal Mail PLC	25,476		179,806
SABMiller PLC	36,203		2,041,466
Sage Group PLC	42,496		256,764
Schroders PLC	4,856		187,290
Scottish & Southern Energy PLC	37,948		970,680
Segro PLC	29,048		176,672
Severn Trent PLC	9,125		291,361
Smith & Nephew PLC	33,680		571,729
Smiths Group PLC	15,190		283,089
Sports Direct International PLC (a)	9,653		99,523
Standard Chartered PLC (United Kingdom)	92,653		1,392,647
Standard Life PLC	89,609		564,359
Tate & Lyle PLC	17,660		171,199
Tesco PLC	305,523		848,129
The Weir Group PLC	8,048		293,922
Travis Perkins PLC	9,092		240,275
TUI Travel PLC	19,553		124,678
Tullow Oil PLC	35,099		272,766
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Unilever PLC	48,236		$ 1,940,317
United Utilities Group PLC	25,887		353,861
Vodafone Group PLC	967,652		3,217,885
Vodafone Group PLC sponsored ADR	2,563		85,143
Whitbread PLC	6,853		478,414
William Hill PLC	31,632		182,419
WM Morrison Supermarkets PLC	82,165		203,468
TOTAL UNITED KINGDOM			94,381,601
United States of America - 0.0%
Southern Copper Corp. (d)	6,532		187,991
TOTAL COMMON STOCKS (Cost $649,532,439)		669,505,559
Nonconvertible Preferred Stocks - 1.5%

Brazil - 0.9%
AES Tiete SA (PN) (non-vtg.)	3,600		27,183
Banco Bradesco SA (PN)	80,190		1,207,753
Banco do Estado Rio Grande do Sul SA	8,100		48,380
Bradespar SA (PN)	9,600		64,855
Braskem SA (PN-A)	6,900		50,485
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)	9,900		37,476
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN)	5,100		213,846
Companhia Energetica de Minas Gerais (CEMIG) (PN)	27,187		156,129
Companhia Energetica de Sao Paulo Series B	6,900		68,028
Companhia Paranaense de Energia-Copel (PN-B)	3,900		54,473
Gerdau SA (PN)	33,000		147,694
Itau Unibanco Holding SA	103,653		1,537,289
Itausa-Investimentos Itau SA (PN)	119,348		476,352
Lojas Americanas SA (PN)	17,797		105,005
Metalurgica Gerdau SA (PN)	11,700		63,271
Oi SA (PN)	91,548		48,030
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)	157,900		973,692
Suzano Papel e Celulose SA	13,200		55,721
Telefonica Brasil SA	11,000		224,670
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.) (a)	15,100		34,735
Vale SA (PN-A)	71,300		620,088
TOTAL BRAZIL			6,215,155
Nonconvertible Preferred Stocks - continued
	Shares		Value
Chile - 0.0%
Embotelladora Andina SA Class B	10,186		$ 31,989
Sociedad Quimica y Minera de Chile SA (PN-B)	3,214		74,873
TOTAL CHILE			106,862
Colombia - 0.1%
Banco Davivienda SA	3,654		54,521
BanColombia SA (PN)	15,924		223,826
Grupo Aval Acciones y Valores SA	67,664		45,877
Grupo de Inversiones Suramerica SA	2,568		51,772
Inversiones Argos SA	5,290		58,364
TOTAL COLOMBIA			434,360
France - 0.0%
Air Liquide SA (a)	826		99,629
Germany - 0.4%
Bayerische Motoren Werke AG (BMW) (non-vtg.)	2,136		170,936
FUCHS PETROLUB AG	2,588		100,343
Henkel AG & Co. KGaA	6,677		659,175
Porsche Automobil Holding SE (Germany)	5,563		455,433
Volkswagen AG	6,169		1,314,603
TOTAL GERMANY			2,700,490
Italy - 0.0%
Telecom Italia SpA (Risparmio Shares)	231,134		206,517
Korea (South) - 0.1%
Hyundai Motor Co.	792		91,035
Hyundai Motor Co. Series 2	1,512		180,126
LG Chemical Ltd.	366		54,162
Samsung Electronics Co. Ltd.	795		728,818
TOTAL KOREA (SOUTH)			1,054,141
Russia - 0.0%
AK Transneft OAO (a)	55		120,191
Sberbank (Savings Bank of the Russian Federation) (a)	24,295		32,141
Surgutneftegas (a)	91,433		62,702
TOTAL RUSSIA			215,034
United Kingdom - 0.0%
Rolls-Royce Group PLC	6,365,160		10,182
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $12,299,726)		11,042,370

Government Obligations - 0.4%
	Principal Amount	Value
United States of America - 0.4%
U.S. Treasury Bills, yield at date of purchase 0.05% to 0.06% 11/28/14 to 6/25/15 (f) (Cost $2,799,423)	$ 2,800,000	$ 2,799,428

Money Market Funds - 6.0%
	Shares
Fidelity Cash Central Fund, 0.11% (b)	40,896,687		40,896,687
Fidelity Securities Lending Cash Central Fund, 0.11% (b)(c)	3,203,996		3,203,996
TOTAL MONEY MARKET FUNDS (Cost $44,100,683)		44,100,683
TOTAL INVESTMENT PORTFOLIO - 99.7% (Cost $708,732,271)			727,448,040
NET OTHER ASSETS (LIABILITIES) - 0.3%			2,100,852
NET ASSETS - 100%		$ 729,548,892

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
366 NYSE E-mini MSCI EAFE Index Contracts (United States)	Dec. 2014	$ 33,598,800	$ (58,067)
228 NYSE E-mini MSCI EAFE Index Contracts (United States)	Dec. 2014	11,555,040	(156,547)
24 TME S&P/TSX 60 Index Contracts (Canada)	Dec. 2014	3,610,700	(62,680)
TOTAL EQUITY INDEX CONTRACTS		$ 48,764,540	$ (277,294)

The face value of futures purchased as a percentage of net assets is 6.7%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $22,293,601.

Legend

(a) Non-income producing

(d) Security or a portion of the security is on loan at period end.

(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 $2,202,447.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 23,119
Fidelity Securities Lending Cash Central Fund	148,594
Total	$ 171,713

Other Information

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

The following is a summary of the inputs used, as of October 31, 2014, 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 in the table 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:
Consumer Discretionary	$ 73,111,877	$ 40,893,633	$ 32,178,799	$ 39,445
Consumer Staples	67,188,964	25,675,943	41,513,021	-
Energy	57,691,222	23,686,067	34,005,155	-
Financials	187,408,732	75,886,244	111,396,902	125,586
Health Care	58,184,443	12,989,374	45,195,069	-
Industrials	73,829,666	37,205,905	36,460,548	163,213
Information Technology	48,465,116	11,998,473	36,466,643	-
Materials	52,954,851	27,624,323	25,330,528	-
Telecommunication Services	37,021,688	11,132,514	25,889,174	-
Utilities	24,691,370	14,273,196	10,418,174	-
Government Obligations	2,799,428	-	2,799,428	-
Money Market Funds	44,100,683	44,100,683	-	-
Total Investments in Securities:	$ 727,448,040	$ 325,466,355	$ 401,653,441	$ 328,244
Derivative Instruments:
Liabilities
Futures Contracts	$ (277,294)	$ (277,294)	$ -	$ -

Transfers	Total
Level 1 to Level 2	$ 78,735,275
Level 2 to Level 1	$ 911,220

Value of Derivative Instruments

Primary Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts	$ -	$ (277,294)
Total Value of Derivatives	$ -	$ (277,294)

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Global ex U.S. Index Fund

Financial Statements

Statement of Assets and Liabilities

	October 31, 2014

Assets
Investment in securities, at value (including securities loaned of $3,057,154) - See accompanying schedule: Unaffiliated issuers (cost $664,631,588)	$ 683,347,357
Fidelity Central Funds (cost $44,100,683)	44,100,683
Total Investments (cost $708,732,271)		$ 727,448,040
Foreign currency held at value (cost $2,243,802)		2,229,451
Receivable for fund shares sold		2,352,550
Dividends receivable		1,339,701
Distributions receivable from Fidelity Central Funds		7,463
Receivable for daily variation margin for derivative instruments		704,866
Receivable from investment adviser for expense reductions		56,825
Other receivables		457
Total assets		734,139,353

Liabilities
Payable to custodian bank	$ 4
Payable for investments purchased	336,758
Payable for fund shares redeemed	801,222
Accrued management fee	116,636
Other affiliated payables	36,329
Other payables and accrued expenses	95,516
Collateral on securities loaned, at value	3,203,996
Total liabilities		4,590,461

Net Assets		$ 729,548,892
Net Assets consist of:
Paid in capital		$ 697,273,407
Undistributed net investment income		15,287,239
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(1,294,605)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		18,282,851
Net Assets		$ 729,548,892

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Assets and Liabilities - continued

	October 31, 2014

Investor Class: Net Asset Value, offering price and redemption price per share ($15,308,698 ÷ 1,246,256 shares)		$ 12.28

Fidelity Advantage Class: Net Asset Value, offering price and redemption price per share ($485,997,920 ÷ 39,548,140 shares)		$ 12.29

Institutional Class: Net Asset Value, offering price and redemption price per share ($153,982,849 ÷ 12,524,549 shares)		$ 12.29

Fidelity Advantage Institutional Class: Net Asset Value, offering price and redemption price per share ($74,259,425 ÷ 6,037,176 shares)		$ 12.30

See accompanying notes which are an integral part of the financial statements.

Annual Report

Spartan Global ex U.S. Index Fund
Financial Statements - continued

Statement of Operations

	Year ended October 31, 2014

Investment Income
Dividends		$ 17,789,065
Special dividends		2,164,711
Interest		1,463
Income from Fidelity Central Funds		171,713
Income before foreign taxes withheld		20,126,952
Less foreign taxes withheld		(1,471,191)
Total income		18,655,761

Expenses
Management fee	$ 1,153,657
Transfer agent fees	358,575
Independent trustees' compensation	2,320
Miscellaneous	869
Total expenses before reductions	1,515,421
Expense reductions	(578,941)	936,480
Net investment income (loss)		17,719,281
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	(306,427)
Foreign currency transactions	(5,731)
Futures contracts	456,387
Total net realized gain (loss)		144,229
Change in net unrealized appreciation (depreciation) on: Investment securities (net of increase in deferred foreign taxes of $54,497)	(21,889,744)
Assets and liabilities in foreign currencies	(60,508)
Futures contracts	(604,769)
Total change in net unrealized appreciation (depreciation)		(22,555,021)
Net gain (loss)		(22,410,792)
Net increase (decrease) in net assets resulting from operations		$ (4,691,511)

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended October 31, 2014	Year ended October 31, 2013
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 17,719,281	$ 6,329,998
Net realized gain (loss)	144,229	(243,438)
Change in net unrealized appreciation (depreciation)	(22,555,021)	36,830,381
Net increase (decrease) in net assets resulting from operations	(4,691,511)	42,916,941
Distributions to shareholders from net investment income	(6,862,481)	(1,883,129)
Distributions to shareholders from net realized gain	(932,749)	(93,195)
Total distributions	(7,795,230)	(1,976,324)
Share transactions - net increase (decrease)	320,876,989	265,547,082
Redemption fees	94,494	169,944
Total increase (decrease) in net assets	308,484,742	306,657,643

Net Assets
Beginning of period	421,064,150	114,406,507
End of period (including undistributed net investment income of $15,287,239 and undistributed net investment income of $5,651,192, respectively)	$ 729,548,892	$ 421,064,150

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Investor Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 12.44	$ 10.54	$ 10.09	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.37 ^G	.29	.29	.03
Net realized and unrealized gain (loss)	(.32)	1.76	.18	.06
Total from investment operations	.05	2.05	.47	.09
Distributions from net investment income	(.18)	(.15)	-	-
Distributions from net realized gain	(.03)	(.01)	(.03)	-
Total distributions	(.21)	(.16)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.01	- ^J
Net asset value, end of period	$ 12.28	$ 12.44	$ 10.54	$ 10.09
Total Return^{B, C}	.46%	19.79%	4.81%	.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.34%	.34%	.34%	.34% ^A
Expenses net of fee waivers, if any	.22%	.23%	.24%	.24% ^A
Expenses net of all reductions	.22%	.23%	.24%	.24% ^A
Net investment income (loss)	3.00% ^G	2.59%	2.88%	1.79% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 15,309	$ 10,037	$ 25,552	$ 1,790
Portfolio turnover rate ^F	1%	6%	7%	1% ^K

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^J Amount represents less than $.01 per share.

^K Amount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 12.44	$ 10.54	$ 10.09	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.38 ^G	.30	.30	.03
Net realized and unrealized gain (loss)	(.31)	1.76	.17	.06
Total from investment operations	.07	2.06	.47	.09
Distributions from net investment income	(.19)	(.16)	-	-
Distributions from net realized gain	(.03)	(.01)	(.03)	-
Total distributions	(.22)	(.17)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.01	- ^J
Net asset value, end of period	$ 12.29	$ 12.44	$ 10.54	$ 10.09
Total Return^{B, C}	.59%	19.88%	4.81%	.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.28%	.28%	.28%	.28% ^A
Expenses net of fee waivers, if any	.18%	.18%	.18%	.18% ^A
Expenses net of all reductions	.18%	.18%	.18%	.18% ^A
Net investment income (loss)	3.04% ^G	2.64%	2.94%	1.86% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 485,998	$ 281,895	$ 67,539	$ 17,715
Portfolio turnover rate ^F	1%	6%	7%	1% ^K

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^J Amount represents less than $.01 per share.

^K Amount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Institutional Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 12.45	$ 10.55	$ 10.09	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.39 ^G	.31	.30	.03
Net realized and unrealized gain (loss)	(.33)	1.76	.18	.06
Total from investment operations	.06	2.07	.48	.09
Distributions from net investment income	(.20)	(.17)	-	-
Distributions from net realized gain	(.03)	(.01)	(.03)	-
Total distributions	(.22) ^K	(.18)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.01	- ^J
Net asset value, end of period	$ 12.29	$ 12.45	$ 10.55	$ 10.09
Total Return^{B, C}	.56%	19.94%	4.91%	.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.23%	.23%	.23%	.23% ^A
Expenses net of fee waivers, if any	.13%	.13%	.13%	.13% ^A
Expenses net of all reductions	.13%	.13%	.13%	.13% ^A
Net investment income (loss)	3.09% ^G	2.69%	2.99%	1.91% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 153,983	$ 66,248	$ 21,199	$ 7,567
Portfolio turnover rate^F	1%	6%	7%	1% ^L

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^J Amount represents less than $.01 per share.

^K Total distributions of $.22 per share is comprised of distributions from net investment income of $.195 and distributions from net realized gain of $.026 per share.

^L Amount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Fidelity Advantage Institutional Class

Years ended October 31,	2014	2013	2012	2011 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 12.45	$ 10.56	$ 10.09	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.39 ^G	.32	.30	.03
Net realized and unrealized gain (loss)	(.31)	1.74	.19	.06
Total from investment operations	.08	2.06	.49	.09
Distributions from net investment income	(.20)	(.17)	-	-
Distributions from net realized gain	(.03)	(.01)	(.03)	-
Total distributions	(.23)	(.18)	(.03)	-
Redemption fees added to paid in capital ^D	- ^J	.01	.01	- ^J
Net asset value, end of period	$ 12.30	$ 12.45	$ 10.56	$ 10.09
Total Return^{B, C}	.67%	19.87%	5.01%	.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.20%	.19%	.20%	.20% ^A
Expenses net of fee waivers, if any	.10%	.10%	.10%	.10% ^A
Expenses net of all reductions	.10%	.10%	.10%	.10% ^A
Net investment income (loss)	3.12% ^G	2.72%	3.03%	1.94% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 74,259	$ 62,884	$ 117	$ 7,568
Portfolio turnover rate^F	1%	6%	7%	1% ^K

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^H For the period September 8, 2011 (commencement of operations) to October 31, 2011.

^J Amount represents less than $.01 per share.

^K Amount not annualized.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Notes to Shareholders

1. Organization.

2. Investments in Fidelity Central Funds.

3. Significant Accounting Policies.

Annual Report

Notes to Shareholders - continued

3. Significant Accounting Policies - continued

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 - 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:

Annual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

Annual Report

Notes to Shareholders - continued

3. Significant Accounting Policies - continued

Annual Report

3. Significant Accounting Policies - continued

Annual Report

Notes to Shareholders - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows for each Fund:

	Tax cost	Gross unrealized appreciation	Gross unrealized depreciation	Net unrealized appreciation (depreciation) on securities

Spartan Emerging Markets Index Fund	$ 344,308,101	$ 43,397,313	$ (28,336,097)	$ 15,061,216
Spartan Global ex U.S. Index Fund	710,173,949	67,627,588	(50,353,497)	17,274,091

The tax-based components of distributable earnings as of period end were as follows for each Fund:

	Undistributed ordinary income	Capital loss carryforward	Net unrealized appreciation (depreciation) on securities and other investments
Spartan Emerging Markets Index Fund	$ 6,018,159	$ (10,127,827)	$ 15,053,903
Spartan Global ex U.S. Index Fund	15,619,816	(462,798)	17,213,972

	No expiration
	Short-term	Long-term	Total no expiration
Spartan Emerging Markets Index Fund	$ (8,392,183)	$ (1,735,644)	$ (10,127,827)
Spartan Global ex U.S. Index Fund	(204,365)	(258,433)	(462,798)

Annual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The tax character of distributions paid was as follows:

October 31, 2014
	Ordinary Income	Long-term Capital Gains	Total
Spartan Emerging Markets Index Fund	$ 4,624,751	$ -	$ 4,624,751
Spartan Global ex U.S. Index Fund	7,436,480	358,750	7,795,230
October 31, 2013
	Ordinary Income	Long-term Capital Gains	Total
Spartan Emerging Markets Index Fund	$ 2,105,350	$ -	$ 2,105,350
Spartan Global ex U.S. Index Fund	1,953,025	23,299	1,976,324

Annual Report

Notes to Shareholders - continued

4. Derivative Instruments.

The Funds' use of derivatives increased or decreased their exposure to the following risk:

Equity Risk

Annual Report

4. Derivative Instruments - continued

Primary Risk Exposure / Derivative Type	Net Realized Gain (Loss)	Change in Net Unrealized Appreciation (Depreciation)
Spartan Emerging Markets Index Fund
Equity Risk
Futures Contracts	$ (428,790)	$ 176,040
Totals (a)	$ (428,790)	$ 176,040
Spartan Global ex U.S. Index Fund
Futures Contracts	$ 456,387	$ (604,769)
Totals (a)	$ 456,387	$ (604,769)

(a) A summary of the value of derivatives by primary risk exposure as of period end, if any is included at the end of the Schedule of Investments.

Annual Report

Notes to Shareholders - continued

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, are noted in the table below.

	Purchases ($)	Sales ($)
Spartan Emerging Markets Index Fund	149,160,924	20,626,754
Spartan Global ex U.S. Index Fund	299,799,054	6,985,295

6. Fees and Other Transactions with Affiliates.

	Investor Class	Fidelity Advantage Class	Institutional Class	Fidelity Advantage Institutional Class
Spartan Emerging Markets Index Fund	.46%	.35%	.28%	.25%
Spartan Global ex U.S. Index Fund	.34%	.28%	.23%	.20%

Annual Report

6. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

For the period, the total transfer agent fees paid by each applicable class were as follows:

Spartan Emerging Markets Index Fund	Amount
Investor Class	$ 26,351
Fidelity Advantage Class	245,174
Institutional Class	2,745
	$ 274,270
Spartan Global ex U.S. Index Fund
Investor Class	$ 19,300
Fidelity Advantage Class	306,793
Institutional Class	32,482
	$ 358,575

	Borrower or Lender	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Spartan Emerging Markets Index Fund	Borrower	$ 12,544,000	.31%	$ 755

Other. During the period, the investment adviser reimbursed Spartan Global ex U.S. Index Fund for certain losses in the amount of $2,291.

Annual Report

Notes to Shareholders - continued

7. Committed Line of Credit.

Spartan Emerging Markets Index Fund	$ 409
Spartan Global ex U.S. Index Fund	869

During the period, the Funds did not borrow on this line of credit.

8. Security Lending.

	Total Security Lending Income
Spartan Emerging Markets Index Fund	$ 27,962
Spartan Global ex U.S. Index Fund	$ 148,594

Annual Report

9. Bank Borrowings.

	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Spartan Emerging Markets Index Fund	$ 2,166,000	.58%	$ 105

10. Expense Reductions.

The following classes of each applicable Fund were in reimbursement during the period:

	Expense Limitations	Reimbursement
Spartan Emerging Markets Index Fund
Investor Class	.31%	$ 18,735
Fidelity Advantage Class	.20%	366,930
Institutional Class	.13%	13,627
Fidelity Advantage Institutional Class	.10%	2,162
Spartan Global ex U.S. Index Fund
Investor Class	.22%	16,545
Fidelity Advantage Class	.18%	382,625
Institutional Class	.13%	107,880
Fidelity Advantage Institutional Class	.10%	71,448

In addition, the investment advisor reimbursed a portion of each Fund's operating expenses during the period as follows:

Spartan Emerging Markets Index Fund	$ 613
Spartan Global ex U.S. Index Fund	422

Annual Report

Notes to Shareholders - continued

10. Expense Reductions - continued

Spartan Emerging Markets Index Fund	$ 9
Spartan Global ex U.S. Index Fund	21

11. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

Years ended October 31,	2014	2013
Spartan Emerging Markets Index Fund
From net investment income
Investor Class	$ 196,321	$ 596,789
Fidelity Advantage Class	4,268,410	803,258
Institutional Class	5,565	9,000
Fidelity Advantage Institutional Class	154,455	1,234
Total	$ 4,624,751	$ 1,410,281
From net realized gain
Investor Class	$ -	$ 313,070
Fidelity Advantage Class	-	377,504
Institutional Class	-	3,966
Fidelity Advantage Institutional Class	-	529
Total	$ -	$ 695,069
Spartan Global ex U.S. Index Fund
From net investment income
Investor Class	$ 226,598	$ 416,574
Fidelity Advantage Class	4,521,437	1,114,795
Institutional Class	1,107,946	349,844
Fidelity Advantage Institutional Class	1,006,500	1,916
Total	$ 6,862,481	$ 1,883,129
From net realized gain
Investor Class	$ 32,059	$ 21,640
Fidelity Advantage Class	621,801	54,936
Institutional Class	147,471	16,531
Fidelity Advantage Institutional Class	131,418	88
Total	$ 932,749	$ 93,195

Annual Report

12. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

	Shares		Dollars
Years ended October 31,	2014	2013	2014	2013
Spartan Emerging Markets Index Fund
Investor Class
Shares sold	2,118,414	5,062,409	$ 20,793,163	$ 51,516,941
Reinvestment of distributions	18,567	82,497	174,910	824,144
Shares redeemed	(1,506,553)	(8,686,974)	(14,651,496)	(87,732,120)
Net increase (decrease)	630,428	(3,542,068)	$ 6,316,577	$ (35,391,035)
Fidelity Advantage Class
Shares sold	19,048,224	24,217,181	$ 188,162,218	$ 238,491,795
Reinvestment of distributions	429,331	111,290	4,044,463	1,111,792
Shares redeemed	(8,594,278)	(8,707,952)	(83,053,370)	(84,458,854)
Net increase (decrease)	10,883,277	15,620,519	$ 109,153,311	$ 155,144,733
Institutional Class
Shares sold	2,439,446	53,539	$ 23,794,505	$ 528,823
Reinvestment of distributions	590	1,297	5,565	12,966
Shares redeemed	(366,209)	(60,597)	(3,651,261)	(586,567)
Net increase (decrease)	2,073,827	(5,761)	$ 20,148,809	$ (44,778)
Fidelity Advantage Institutional Class
Shares sold	111,992	815,606	$ 1,072,931	$ 7,380,534
Reinvestment of distributions	16,379	176	154,455	1,763
Shares redeemed	(850,397)	(90,970)	(7,894,709)	(868,609)
Net increase (decrease)	(722,026)	724,812	$ (6,667,323)	$ 6,513,688

Spartan Global ex U.S. Index Fund
Investor Class
Shares sold	1,766,047	1,801,296	$ 21,906,686	$ 20,127,243
Reinvestment of distributions	16,896	37,086	200,243	401,269
Shares redeemed	(1,343,717)	(3,456,497)	(16,581,244)	(38,972,386)
Net increase (decrease)	439,226	(1,618,115)	$ 5,525,685	$ (18,443,874)
Fidelity Advantage Class
Shares sold	22,421,200	18,744,389	$ 280,562,019	$ 214,525,504
Reinvestment of distributions	409,534	104,604	4,853,705	1,131,814
Shares redeemed	(5,939,074)	(2,597,969)	(73,832,191)	(29,841,950)
Net increase (decrease)	16,891,660	16,251,024	$ 211,583,533	$ 185,815,368

Annual Report

Notes to Shareholders - continued

12. Share Transactions - continued

	Shares		Dollars
Years ended October 31,	2014	2013	2014	2013
Spartan Global ex U.S. Index Fund
Institutional Class
Shares sold	9,020,573	6,166,157	$ 114,310,631	$ 69,861,478
Reinvestment of distributions	105,927	33,861	1,255,417	366,375
Shares redeemed	(1,923,850)	(2,887,399)	(23,985,703)	(32,632,011)
Net increase (decrease)	7,202,650	3,312,619	$ 91,580,345	$ 37,595,842
Fidelity Advantage Institutional Class
Shares sold	1,955,903	5,098,656	$ 24,287,152	$ 61,312,872
Reinvestment of distributions	96,013	185	1,137,918	2,004
Shares redeemed	(1,063,984)	(60,641)	(13,237,644)	(735,130)
Net increase (decrease)	987,932	5,038,200	$ 12,187,426	$ 60,579,746

13. Other.

Annual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Salem Street Trust and Shareholders of Spartan Emerging Markets Index Fund and Spartan Global ex U.S. Index Fund:

DELOITTE & TOUCHE LLP

Boston, Massachusetts

December 22, 2014

Annual Report

Trustees and Officers

Annual Report

Trustees and Officers - continued

Annual Report

The fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-835-5092.

Interested Trustees*:

Correspondence intended for each Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
James C. Curvey (1935)
Year of Election or Appointment: 2007 Trustee
	Mr. Curvey also serves as Trustee of other Fidelity funds. Mr. Curvey is a Director of Fidelity Research & Analysis Co. (2009-present), and Vice Chairman (2007-present) and Director of FMR LLC. In addition, Mr. Curvey serves as an Overseer for the Boston Symphony Orchestra and a member of the board of Artis-Naples, Naples, Florida, and as a Trustee for Brewster Academy, Wolfeboro, New Hampshire. Previously, Mr. Curvey served as a Director of Fidelity Investments Money Management, Inc. (2009-2014), a Director of FMR (2007-2014), and a Director of FMR Co., Inc. (2007-2014).
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009 Trustee Chairman of the Board of Trustees
	Ms. Johnson also serves as Trustee of other Fidelity funds. Ms. Johnson serves as President (2013-present) and Chief Executive Officer (2014-present) of FMR LLC, President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of FMR Co., Inc. (2011-present), Chairman and Director of FMR (2011-present), and the Vice Chairman and Director (2007-present) of FMR LLC. Previously, Ms. Johnson served as President and a Director of FMR (2001-2005), a Trustee of other investment companies advised by FMR, Fidelity Investments Money Management, Inc., and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity funds (2001-2005), and managed a number of Fidelity funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.

* Trustees have been determined to be "Interested Trustees" by virtue of, among other things, their affiliation with the trust or various entities under common control with FMR.

Annual Report

Independent Trustees:

Correspondence intended for each Independent Trustee (that is, the Trustees other than the Interested Trustees) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013 Trustee
	Ms. Acton also serves as Trustee or Member of the Advisory Board of other Fidelity funds. Prior to her retirement in April 2012, Ms. Acton was Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011), and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board of Directors and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present).
John Engler (1948)
Year of Election or Appointment: 2014 Trustee
	Mr. Engler also serves as Trustee or Member of the Advisory Board of other Fidelity funds. He serves as president of the Business Roundtable (2011-present), and on the board of directors/trustees for Universal Forest Products (manufacturing) (2003-present), K12 Inc. (for-profit education and curriculum) (2012-present), and the Annie E. Casey Foundation (2004-present). Previously, Mr. Engler served as a trustee of The Munder Funds (2003-2014), president and CEO of the National Association of Manufacturers (2005-2011) and as governor of Michigan (1991-2003).
Albert R. Gamper, Jr. (1942)
Year of Election or Appointment: 2006 Trustee Chairman of the Independent Trustees
	Mr. Gamper also serves as Trustee of other Fidelity funds. Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (2002-2003). Mr. Gamper currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2000-present), a member of the Board of Trustees, Rutgers University (2004-present), and Chairman of the Board of Barnabas Health Care System. Previously, Mr. Gamper served as Vice Chairman of the Independent Trustees of certain Fidelity funds (2011-2012) and as Chairman of the Board of Governors, Rutgers University (2004-2007).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010 Trustee
	Mr. Gartland also serves as Trustee of other Fidelity funds. Mr. Gartland is Chairman and an investor in Gartland and Mellina Group Corp. (consulting, 2009-present). Previously, Mr. Gartland served as a partner and investor of Vietnam Partners LLC (investments and consulting, 2008-2011). Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007) including Managing Director (1987-2007).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008 Trustee
	Mr. Johnson also serves as Trustee of other Fidelity funds. Mr. Johnson serves as a member of the Board of Directors of Eaton Corporation (diversified power management, 2009-present), AGL Resources, Inc. (holding company, 2002-present) and Booz Allen Hamilton (management consulting, 2011-present). Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). He previously served on the Board of Directors of IKON Office Solutions, Inc. (1999-2008) and Delta Airlines (2005-2007). Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009 Trustee
	Mr. Kenneally also serves as Trustee of other Fidelity funds. Mr. Kenneally served as a Member of the Advisory Board for certain Fidelity funds before joining the Board of Trustees (2008-2009). Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management. Before joining Credit Suisse, he was an Executive Vice President and Chief Investment Officer for Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager and Research Analyst, and Mr. Kenneally was awarded the Chartered Financial Analyst (CFA) designation in 1991.
James H. Keyes (1940)
Year of Election or Appointment: 2007 Trustee
	Mr. Keyes also serves as Trustee of other Fidelity funds. Mr. Keyes serves as a member of the Board and Non-Executive Chairman of Navistar International Corporation (manufacture and sale of trucks, buses, and diesel engines, since 2002). Previously, Mr. Keyes served as a member of the Board of Pitney Bowes, Inc. (integrated mail, messaging, and document management solutions, 1998-2013). Prior to his retirement, Mr. Keyes served as Chairman (1993-2002) and Chief Executive Officer (1988-2002) of Johnson Controls (automotive, building, and energy) and as a member of the Board of LSI Logic Corporation (semiconductor technologies, 1984-2008).
Marie L. Knowles (1946)
Year of Election or Appointment: 2001 Trustee Vice Chairman of the Independent Trustees
	Ms. Knowles also serves as Trustee of other Fidelity funds. Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company. She served as a Director of ARCO from 1996 to 1998. Ms. Knowles currently serves as a Director and Chairman of the Audit Committee of McKesson Corporation (healthcare service, since 2002). Ms. Knowles is a member of the Board of the Catalina Island Conservancy and of the Santa Catalina Island Company (2009-present). She also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Previously, Ms. Knowles served as a Director of Phelps Dodge Corporation (copper mining and manufacturing, 1994-2007), URS Corporation (engineering and construction, 2000-2003) and America West (airline, 1999-2002).
Kenneth L. Wolfe (1939)
Year of Election or Appointment: 2005 Trustee
	Mr. Wolfe also serves as Trustee of other Fidelity funds. Prior to his retirement, Mr. Wolfe served as Chairman and a Director (2007-2009) and Chairman and Chief Executive Officer (1994-2001) of Hershey Foods Corporation. He also served as a member of the Boards of Adelphia Communications Corporation (telecommunications, 2003-2006), Bausch & Lomb, Inc. (medical/pharmaceutical, 1993-2007), and Revlon, Inc. (personal care products, 2004-2009). Mr. Wolfe previously served as Chairman of the Independent Trustees of other Fidelity funds (2008-2012).

Annual Report

Officers:

Correspondence intended for each officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.

Name, Year of Birth; Principal Occupation
Elizabeth Paige Baumann (1968)
Year of Election or Appointment: 2012 Anti-Money Laundering (AML) Officer
	Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer of FMR LLC (2012-present) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as Vice President and Deputy Anti-Money Laundering Officer (2007-2012).
Marc Bryant (1966)
Year of Election or Appointment: 2013 Assistant Secretary
	Mr. Bryant also serves as an officer of other funds. He is Senior Vice President and Deputy General Counsel of FMR LLC. Previously, Mr. Bryant served as Secretary and Chief Legal Officer of Fidelity Rutland Square Trust II (2010-2014). Prior to joining Fidelity Investments, Mr. Bryant served as a Senior Vice President and the Head of Global Retail Legal for AllianceBernstein L.P. (2006-2010), and as the General Counsel for ProFund Advisors LLC (2001-2006).
Jonathan Davis (1968)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (2003-2010).
Adrien E. Deberghes (1967)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Deberghes also serves as an officer of other funds. He is an employee of Fidelity Investments (2008-present). Prior to joining Fidelity Investments, Mr. Deberghes was Senior Vice President of Mutual Fund Administration at State Street Corporation (2007-2008), Senior Director of Mutual Fund Administration at Investors Bank & Trust (2005-2007), and Director of Finance for Dunkin' Brands (2000-2005).
Stephanie J. Dorsey (1969)
Year of Election or Appointment: 2013 President and Treasurer
	Ms. Dorsey also serves as an officer of other funds. She is an employee of Fidelity Investments (2008-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Dorsey served as Treasurer (2004-2008) of the JPMorgan Mutual Funds and Vice President (2004-2008) of JPMorgan Chase Bank.
Howard J. Galligan III (1966)
Year of Election or Appointment: 2014 Chief Financial Officer
	Mr. Galligan also serves as Chief Financial Officer of other funds. Mr. Galligan serves as President of Fidelity Pricing and Cash Management Services (FPCMS) (2014-present) and as a Director of Strategic Advisers, Inc. (2008-present). Previously, Mr. Galligan served as Chief Administrative Officer of Asset Management (2011-2014) and Chief Operating Officer and Senior Vice President of Investment Support for Strategic Advisers, Inc. (2003-2011).
Scott C. Goebel (1968)
Year of Election or Appointment: 2008 Secretary and Chief Legal Officer (CLO)
	Mr. Goebel serves as Secretary and CLO of other funds. Mr. Goebel also serves as Secretary of Fidelity SelectCo, LLC (2013-present), Fidelity Investments Money Management, Inc. (FIMM) (2010-present) and Fidelity Research and Analysis Company (FRAC) (2010-present); General Counsel, Secretary, and Senior Vice President of FMR (2008-present) and FMR Co., Inc. (2008-present); Chief Legal Officer of Fidelity Management & Research (Hong Kong) Limited (2008-present); and Assistant Secretary of Fidelity Management & Research (Japan) Limited (2008-present) and Fidelity Management & Research (U.K.) Inc. (2008-present). Previously, Mr. Goebel served as Secretary and CLO of other Fidelity funds (2008-2013), Assistant Secretary of FIMM (2008-2010), FRAC (2008-2010), and certain funds (2007-2008); and as Vice President and Secretary of Fidelity Distributors Corporation (FDC) (2005-2007). Mr. Goebel has been employed by FMR LLC or an affiliate since 2001.
Bruce T. Herring (1965)
Year of Election or Appointment: 2013 Vice President of Fidelity's Asset Allocation Funds
	Mr. Herring also serves as Vice President of other funds. He serves as Chief Investment Officer of Fidelity Global Asset Allocation (GAA) (2013-present), Group Chief Investment Officer of FMR, and President of Fidelity Research & Analysis Company (2010-present). Previously, Mr. Herring served as Vice President of certain Equity Funds (2006-2014), Chief Investment Officer and Director of Fidelity Management & Research (U.K.) Inc. (2010-2013), Vice President (2005-2006) and Senior Vice President (2006-2007) of Fidelity Management & Research Company, Vice President of FMR Co., Inc. (2001-2007), and as a portfolio manager for Fidelity U.S. Equity Funds.
Chris Maher (1972)
Year of Election or Appointment: 2013 Assistant Treasurer
	Mr. Maher serves as Assistant Treasurer of other funds. Mr. Maher is Vice President of Valuation Oversight and is an employee of Fidelity Investments. Previously, Mr. Maher served as Vice President of Asset Management Compliance (2013), Vice President of FMR's Program Management Group (2010-2013), and Vice President of Valuation Oversight (2008-2010).
Nancy D. Prior (1967)
Year of Election or Appointment: 2014 Vice President
	Ms. Prior also serves as Vice President of other funds. Ms. Prior serves as a Director of Fidelity Investments Money Management, Inc. (FIMM) (2014-present), President, Fixed Income (2014-present), Vice Chairman of Pyramis Global Advisors, LLC (2014-present), and is an employee of Fidelity Investments (2002-present). Previously, Ms. Prior served as Vice President of Fidelity's Money Market Funds (2012-2014), President, Money Market and Short Duration Bond of FMR (2013-2014), President, Money Market Group of FMR (2011-2014), Managing Director of Research (2009-2011), Senior Vice President and Deputy General Counsel (2007-2009), and Assistant Secretary of other Fidelity funds (2008-2009).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2009 Assistant Treasurer
	Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Executive Vice President of Fidelity Investments Money Management, Inc. (FIMM) (2013-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served in other fund officer roles.
Stephen Sadoski (1971)
Year of Election or Appointment: 2013 Deputy Treasurer
	Mr. Sadoski also serves as Deputy Treasurer of other funds. He is an employee of Fidelity Investments (2012-present) and has served in another fund officer role. Prior to joining Fidelity Investments, Mr. Sadoski served as an assistant chief accountant in the Division of Investment Management of the Securities and Exchange Commission (SEC) (2009-2012) and as a senior manager at Deloitte & Touche LLP (1997-2009).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013 Assistant Treasurer
	Ms. Smith also serves as an officer of other funds. She is an employee of Fidelity Investments (2009-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (1996-2009).
Renee Stagnone (1975)
Year of Election or Appointment: 2013 Deputy Treasurer
	Ms. Stagnone also serves as Deputy Treasurer of other funds. Ms. Stagnone is an employee of Fidelity Investments.
Michael H. Whitaker (1967)
Year of Election or Appointment: 2008 Chief Compliance Officer
	Mr. Whitaker also serves as Chief Compliance Officer of other funds. Mr. Whitaker also serves as Compliance Officer of FMR Co., Inc. (2014-present), FMR (2014-present), Fidelity Investments Money Management, Inc. (2014-present), and is an employee of Fidelity Investments (2007-present). Prior to joining Fidelity Investments, Mr. Whitaker worked at MFS Investment Management where he served as Senior Vice President and Chief Compliance Officer (2004-2006), and Assistant General Counsel.
Derek L. Young (1964)
Year of Election or Appointment: 2009 Vice President of Fidelity's Asset Allocation Funds
	Mr. Young also serves as Trustee or an officer of other funds. He is President and a Director of Strategic Advisers, Inc. (2011-present), President of Fidelity Global Asset Allocation (GAA) (2011-present), and Vice Chairman of Pyramis Global Advisors, LLC (2011-present). Previously, Mr. Young served as Chief Investment Officer of GAA (2009-2011) and as a portfolio manager.
Joseph F. Zambello (1957)
Year of Election or Appointment: 2011 Deputy Treasurer
	Mr. Zambello also serves as Deputy Treasurer of other funds. Mr. Zambello is an employee of Fidelity Investments. Previously, Mr. Zambello served as Vice President of FMR's Program Management Group (2009-2011) and Vice President of the Transfer Agent Oversight Group (2005-2009).

Annual Report

Distributions (Unaudited)

	Pay Date	Record Date	Dividends	Capital Gains
Spartan Emerging Market Index Fund
Institutional Class	12/15/14	12/12/14	$0.18807	$0.000
Fidelity Advantage Institutional Class	12/15/14	12/12/14	$0.19091	$0.000
Spartan Global ex U.S. Index Fund
Institutional Class	12/15/14	12/12/14	$0.28768	$0.0060
Fidelity Advantage Institutional Class	12/15/14	12/12/14	$0.29125	$0.0060

Spartan Emerging Market Index Fund	December 13, 2013	December 26, 2013
Institutional Class	63%	49%
Fidelity Advantage Institutional Class	62%	49%
Spartan Global ex U.S. Index Fund
Institutional Class	86%	85%
Fidelity Advantage Institutional Class	84%	85%

Annual Report

The amounts per share which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the United States are as follows:

	Pay Date	Income	Taxes
Spartan Emerging Market Index Fund
Institutional Class	12/16/13	0.1687	0.0262
	12/27/13	0.0015	0.0000
Fidelity Advantage Institutional Class	12/16/13	0.1709	0.0262
	12/27/13	0.0015	0.0000
Spartan Global ex U.S. Index Fund
Institutional Class	12/16/13	0.0988	0.0162
	12/27/13	0.0004	0.0000
Fidelity Advantage Institutional Class	12/16/13	0.1004	0.0162
	12/27/13	0.0004	0.0000

Annual Report

Board Approval of Investment Advisory Contracts and Management Fees

Spartan Emerging Markets Index Fund

Spartan Global ex U.S. Index Fund

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Annual Report

Based on its review, the Board concluded that the nature, extent, and quality of services provided to each fund under the Advisory Contracts should benefit each fund's shareholders.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Spartan Emerging Markets Index Fund

Annual Report

ang2262478

Spartan Global ex U.S. Index Fund

ang2262480

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Based on its review, the Board concluded that each fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

The Board noted that the total expense ratio of each class of Spartan Global ex U.S. Index Fund ranked below its competitive median for the period.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Annual Report

Investment Adviser

Fidelity Management & Research
Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

Geode Capital Management, LLC

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

Brown Brothers Harriman & Co.

Boston, MA

(Fidelity Investment logo)(registered trademark)
Corporate Headquarters
245 Summer St., Boston, MA 02210
www.fidelity.com

EMX-I-GUX-I-UANN-1214
1.929367.103

Fidelity®

Series Global ex U.S. Index

Fund

Annual Report

October 31, 2014

(Fidelity Cover Art)

Performance	(Click Here)	How the fund has done over time.
Management's Discussion of Fund Performance	(Click Here)	The Portfolio Manager's review of fund performance and strategy.
Shareholder Expense Example	(Click Here)	An example of shareholder expenses.
Investment Changes	(Click Here)	A summary of major shifts in the fund's investments over the past six months.
Investments	(Click Here)	A complete list of the fund's investments with their market values.
Financial Statements	(Click Here)	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	(Click Here)	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	(Click Here)
Trustees and Officers	(Click Here)
Distributions	(Click Here)
Board Approval of Investment Advisory Contracts and Management Fees	(Click Here)

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 1-800-835-5092 to request a free copy of the proxy voting guidelines.

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.

Annual Report

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.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Annual Report

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of the fund's distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The $10,000 table and the fund's returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

Periods ended October 31, 2014	Past 1 year	Past 5 years	Life of fund ^A
Fidelity® Series Global ex U.S. Index Fund	0.52%	6.23%	5.61%

^A From September 29, 2009.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity® Series Global ex U.S. Index Fund on September 29, 2009, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the MSCI ACWI (All Country World Index) ex USA Index performed over the same period.

ang2262493

Annual Report

Management's Discussion of Fund Performance

Comments from Patrick Waddell, Senior Portfolio Manager of the Geode Capital Management, LLC, investment management team for Fidelity® Series Global ex U.S. Index Fund: For the 12-month period ending October 31, 2014, the fund gained 0.52%, compared with 0.18% for the MSCI ACWI (All Country World Index) ex USA Index. (The fund's performance relative to the index can be affected by Fidelity's methodologies for valuing certain foreign stocks and for incorporating foreign exchange rates, which differ from those used by the index.) Health care was the strongest-performing sector in the benchmark. Within that group, various large European drug makers made meaningful contributions, most notably Novartis and Roche Holdings (based in Switzerland), AstraZeneca (U.K.) and Novo-Nordisk (Denmark). Information technology stocks were another source of strength, led by Chinese social-media company Tencent Holdings. In contrast, materials and energy stocks lagged. Australian mining company BHP Billiton was a standout detractor in the materials sector, while Russian energy giant Gazprom struggled to a roughly -27% return. The biggest individual detractor of the period was Tesco, a U.K. retailer whose shares hit their lowest point in more than a decade.

Annual Report

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the 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 (May 1, 2014 to October 31, 2014).

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 under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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 Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's 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. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

	Annualized Expense Ratio^B	Beginning Account Value May 1, 2014	Ending Account Value October 31, 2014	Expenses Paid During Period* May 1, 2014 to October 31, 2014
Actual	.20%	$ 1,000.00	$ 975.10	$ 1.00
Hypothetical^A		$ 1,000.00	$ 1,024.20	$ 1.02

^A 5% return per year before expenses

^B Annualized expense ratio reflects expenses net of applicable fee waivers.

* Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

Annual Report

Investment Changes (Unaudited)

Geographic Diversification (% of fund's net assets)
As of October 31, 2014
	Japan 14.5%
	United Kingdom 13.2%
	Canada 7.5%
	Switzerland 6.3%
	France 6.2%
	Germany 5.8%
	Australia 5.4%
	Korea (South) 3.1%
	Hong Kong 2.8%
	Other* 35.2%

ang2262507

* Includes Short-Term investments and Net Other Assets (Liabilities)

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

As of April 30, 2014
	United Kingdom 14.5%
	Japan 13.5%
	Canada 7.3%
	France 7.1%
	Germany 6.7%
	Switzerland 6.6%
	Australia 5.6%
	Korea (South) 3.3%
	Spain 2.6%
	Other* 32.8%

ang2262519

* Includes Short-Term investments and Net Other Assets (Liabilities)

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

Top Ten Stocks as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Nestle SA (Switzerland, Food Products)	1.3	1.3
Novartis AG (Switzerland, Pharmaceuticals)	1.2	1.1
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)	1.1	1.1
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks)	1.1	1.1
Toyota Motor Corp. (Japan, Automobiles)	0.9	0.8
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals)	0.8	0.8
Total SA (France, Oil, Gas & Consumable Fuels)	0.8	0.8
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels)	0.7	0.8
Bayer AG (Germany, Pharmaceuticals)	0.6	0.6
Commonwealth Bank of Australia (Australia, Banks)	0.6	0.6
	9.1
Market Sectors as of October 31, 2014
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	26.0	26.2
Industrials	10.4	10.9
Consumer Discretionary	10.3	10.4
Consumer Staples	9.2	9.9
Health Care	8.2	8.1
Energy	8.2	9.2
Materials	7.3	8.4
Information Technology	7.2	6.7
Telecommunication Services	5.4	5.3
Utilities	3.5	3.4

Annual Report

Investments October 31, 2014

Showing Percentage of Net Assets

Common Stocks - 94.0%
	Shares		Value
Australia - 5.4%
AGL Energy Ltd.	87,872		$ 1,053,370
ALS Ltd.	45,102		223,363
Alumina Ltd. (a)	302,818		437,661
Alumina Ltd. sponsored ADR (a)	8,422		47,921
Amcor Ltd.	157,647		1,637,455
AMP Ltd.	386,511		1,993,247
APA Group unit	105,572		733,972
Asciano Ltd.	131,251		726,010
Aurizon Holdings Ltd.	276,006		1,144,794
ASX Ltd.	26,785		849,817
Australia & New Zealand Banking Group Ltd.	359,029		10,623,876
Bank of Queensland Ltd.	47,401		526,947
Bendigo & Adelaide Bank Ltd.	57,021		626,200
BHP Billiton Ltd.	399,687		11,957,378
BHP Billiton Ltd. sponsored ADR	10,717		637,018
Boral Ltd.	100,103		439,669
Brambles Ltd.	200,599		1,687,207
Caltex Australia Ltd.	18,129		499,330
CFS Retail Property Trust unit	276,668		514,601
Coca-Cola Amatil Ltd.	75,371		608,197
Cochlear Ltd.	7,607		493,025
Commonwealth Bank of Australia	212,188		15,088,583
Computershare Ltd.	61,303		665,301
Crown Ltd.	49,445		634,213
CSL Ltd.	62,907		4,441,418
DEXUS Property Group unit	684,517		731,617
Federation Centres unit	191,918		460,871
Flight Centre Travel Group Ltd.	7,984		296,245
Fortescue Metals Group Ltd.	208,757		644,295
Goodman Group unit	223,567		1,091,499
Harvey Norman Holdings Ltd.	73,954		248,691
Iluka Resources Ltd.	53,567		343,885
Incitec Pivot Ltd.	207,440		532,311
Insurance Australia Group Ltd.	306,547		1,772,612
Leighton Holdings Ltd.	13,194		256,872
Lend Lease Group unit	70,451		982,582
Macquarie Group Ltd.	38,010		2,054,213
Metcash Ltd.	123,383		308,158
Mirvac Group unit	480,436		762,218
National Australia Bank Ltd.	308,040		9,529,457
Newcrest Mining Ltd. (a)	99,536		827,783
Orica Ltd.	48,668		888,398
Origin Energy Ltd.	145,402		1,826,646
Common Stocks - continued
	Shares		Value
Australia - continued
Qantas Airways Ltd. (a)	155,051		$ 231,664
QBE Insurance Group Ltd.	176,037		1,788,169
Ramsay Health Care Ltd.	17,577		812,556
realestate.com.au Ltd.	6,354		254,421
Rio Tinto Ltd.	57,236		3,056,309
Santos Ltd.	129,426		1,483,126
Scentre Group unit (a)	699,820		2,232,385
SEEK Ltd.	42,878		629,230
Sonic Healthcare Ltd.	48,562		803,641
SP AusNet unit	208,385		251,917
Stockland Corp. Ltd. unit	307,049		1,147,988
Suncorp Group Ltd.	168,125		2,187,682
Sydney Airport unit	135,553		526,994
Tabcorp Holdings Ltd.	106,036		380,899
Tatts Group Ltd.	185,219		566,972
Telstra Corp. Ltd.	569,015		2,831,507
The GPT Group unit	222,928		810,316
Toll Holdings Ltd.	88,131		441,555
TPG Telecom Ltd.	37,468		242,604
Transurban Group unit	234,798		1,681,601
Treasury Wine Estates Ltd.	87,936		359,039
Wesfarmers Ltd.	149,501		5,818,235
Westfield Corp. unit	259,090		1,820,625
Westpac Banking Corp.	396,992		12,185,381
Westpac Banking Corp. sponsored ADR (d)	9,826		300,872
Woodside Petroleum Ltd.	97,551		3,465,049
Woolworths Ltd.	164,364		5,216,189
WorleyParsons Ltd.	27,990		334,082
TOTAL AUSTRALIA			133,709,934
Austria - 0.1%
Andritz AG	9,328		450,275
Erste Group Bank AG	37,433		952,725
IMMOEAST AG (a)	928		0
IMMOFINANZ Immobilien Anlagen AG	130,226		393,621
OMV AG	19,808		622,670
Raiffeisen International Bank-Holding AG	16,157		344,606
Vienna Insurance Group AG	5,324		255,929
Voestalpine AG	14,551		582,686
TOTAL AUSTRIA			3,602,512
Common Stocks - continued
	Shares		Value
Bailiwick of Guernsey - 0.0%
Friends Life Group Ltd.	183,849		$ 951,130
Bailiwick of Jersey - 0.8%
Experian PLC	129,872		1,949,792
Glencore Xstrata PLC	1,391,776		7,122,331
Petrofac Ltd.	34,213		580,144
Randgold Resources Ltd.	11,682		683,728
Shire PLC	77,157		5,176,998
Wolseley PLC	34,941		1,854,041
WPP PLC	173,601		3,390,887
TOTAL BAILIWICK OF JERSEY			20,757,921
Belgium - 0.8%
Ageas	28,607		955,193
Anheuser-Busch InBev SA NV	105,224		11,668,753
Belgacom SA	19,715		743,893
Colruyt NV (d)	9,040		411,733
Delhaize Freres & Compagnie Le Lion SA sponsored ADR	14,036		239,173
Delhaize Group SA	9,642		659,270
Groupe Bruxelles Lambert SA	10,465		934,388
KBC Groupe SA (a)	32,776		1,755,881
Solvay SA Class A	7,877		1,072,985
Telenet Group Holding NV (a)	6,879		388,996
UCB SA	16,834		1,358,341
Umicore SA	14,139		553,519
TOTAL BELGIUM			20,742,125
Bermuda - 0.4%
Alibaba Health Information Technology Ltd. (a)	300,000		187,387
Apollo Solar Energy Technology Holdings Ltd.	1,616,000		368,708
Beijing Enterprises Water Group Ltd.	550,000		393,798
Brilliance China Automotive Holdings Ltd.	382,000		660,579
Cheung Kong Infrastructure Holdings Ltd.	81,000		591,650
China Gas Holdings Ltd.	256,000		457,697
China Resources Gas Group Ltd.	116,000		331,584
Cosco Pacific Ltd.	207,377		272,888
Credicorp Ltd. (United States)	8,736		1,406,496
First Pacific Co. Ltd.	312,078		336,797
GOME Electrical Appliances Holdings Ltd.	1,287,418		202,827
Haier Electronics Group Co. Ltd.	130,000		351,111
Kerry Properties Ltd.	88,500		303,592
Kunlun Energy Co. Ltd.	424,000		562,824
Li & Fung Ltd.	764,000		931,116
Common Stocks - continued
	Shares		Value
Bermuda - continued
Nine Dragons Paper (Holdings) Ltd.	183,000		$ 141,841
Noble Group Ltd.	563,497		524,536
NWS Holdings Ltd.	192,225		359,337
Seadrill Ltd.	49,374		1,110,466
Shangri-La Asia Ltd.	178,000		258,457
Sihuan Pharmaceutical Holdings Group Ltd.	510,000		407,235
Yue Yuen Industrial (Holdings) Ltd.	99,000		332,342
TOTAL BERMUDA			10,493,268
Brazil - 1.2%
All America Latina Logistica SA	55,400		151,808
Ambev SA	550,130		3,641,040
B2W Companhia Global do Varejo (a)	14,500		188,894
Banco Bradesco SA	82,600		1,216,049
Banco do Brasil SA	107,200		1,199,667
Banco Santander SA (Brasil) unit	107,000		576,476
BB Seguridade Participacoes SA	89,500		1,194,104
BM&F BOVESPA SA	235,400		1,035,498
BR Malls Participacoes SA	55,800		448,129
BR Properties SA	22,700		114,696
Brasil Foods SA	76,700		1,996,200
CCR SA	117,700		876,373
Centrais Eletricas Brasileiras SA (Electrobras)	32,600		81,832
Cetip SA - Mercados Organizado	28,260		358,111
Cielo SA	87,130		1,430,776
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)	36,000		281,706
Companhia de Saneamento de Minas Gerais	5,600		63,777
Companhia Siderurgica Nacional SA (CSN)	88,800		295,654
Cosan Logistica SA (a)	17,100		28,639
Cosan SA Industria e Comercio	17,100		238,706
CPFL Energia SA	31,600		237,201
Cyrela Brazil Realty SA	34,600		172,030
Drogasil SA	29,500		267,749
Duratex SA	34,366		123,434
Ecorodovias Infraestrutura e Logistica SA	31,200		139,512
Embraer SA	70,900		686,424
Energias do Brasil SA	36,600		142,831
Estacio Participacoes SA	40,100		464,454
Fibria Celulose SA (a)	23,895		289,394
Hypermarcas SA (a)	48,800		340,905
JBS SA	101,600		453,077
Common Stocks - continued
	Shares		Value
Brazil - continued
Klabin SA unit	56,800		$ 280,802
Kroton Educacional SA	179,892		1,282,091
Localiza Rent A Car SA	19,460		280,524
Lojas Americanas SA	14,375		70,486
Lojas Renner SA	16,900		506,066
M. Dias Branco SA	4,200		163,329
Multiplan Empreendimentos Imobiliarios SA	13,600		281,287
Natura Cosmeticos SA	23,300		338,512
Odontoprev SA	34,800		125,695
Petroleo Brasileiro SA - Petrobras (ON)	319,511		1,889,034
Porto Seguro SA	13,300		159,413
Qualicorp SA (a)	26,300		267,468
Souza Cruz SA	51,600		416,898
Sul America SA unit	18,542		98,476
Terna Participacoes SA unit	12,000		89,108
TIM Participacoes SA	100,903		548,514
Totvs SA	15,300		223,026
Tractebel Energia SA	22,900		311,907
Ultrapar Participacoes SA	40,500		883,419
Vale SA	140,500		1,417,531
Vale SA sponsored ADR (d)	26,400		266,376
Via Varejo SA unit (a)	15,000		144,316
Weg SA	38,260		451,326
TOTAL BRAZIL			29,230,750
Canada - 7.1%
Agnico Eagle Mines Ltd. (Canada)	27,403		645,778
Agrium, Inc. (d)	18,865		1,845,742
Alimentation Couche-Tard, Inc. Class B (sub. vtg.)	54,622		1,853,770
AltaGas Ltd. (d)	16,941		698,954
ARC Resources Ltd. (d)	40,728		960,517
ATCO Ltd. Class I (non-vtg.)	10,557		429,005
Athabasca Oil Corp. (a)	46,513		150,634
Bank of Montreal (d)	84,293		6,112,654
Bank of Nova Scotia	159,267		9,753,434
Barrick Gold Corp.	153,302		1,819,955
Baytex Energy Corp. (d)	21,374		653,139
BCE, Inc. (d)	36,103		1,603,261
BlackBerry Ltd. (a)	64,754		679,917
Bombardier, Inc. Class B (sub. vtg.)	190,653		627,588
Brookfield Asset Management, Inc. Class A	72,452		3,546,583
CAE, Inc.	36,221		464,071
Common Stocks - continued
	Shares		Value
Canada - continued
Cameco Corp. (d)	51,436		$ 893,130
Canadian Imperial Bank of Commerce (d)	51,929		4,740,672
Canadian National Railway Co.	107,790		7,599,480
Canadian Natural Resources Ltd.	143,690		5,014,265
Canadian Oil Sands Ltd.	62,874		985,187
Canadian Pacific Railway Ltd.	22,931		4,769,721
Canadian Tire Ltd. Class A (non-vtg.) (d)	9,964		1,092,455
Canadian Utilities Ltd. Class A (non-vtg.)	16,041		554,507
Catamaran Corp. (a)	27,327		1,302,036
Cenovus Energy, Inc.	99,660		2,466,188
CGI Group, Inc. Class A (sub. vtg.) (a)	29,253		1,004,213
CI Financial Corp.	29,694		863,380
Crescent Point Energy Corp. (d)	54,424		1,798,761
Dollarama, Inc.	8,474		744,506
Eldorado Gold Corp.	90,802		496,287
Empire Co. Ltd. Class A (non-vtg.)	7,253		501,767
Enbridge, Inc. (d)	109,584		5,185,320
Encana Corp.	97,655		1,819,578
Enerplus Corp. (d)	25,636		367,122
Fairfax Financial Holdings Ltd. (sub. vtg.)	2,672		1,220,791
Finning International, Inc.	22,772		587,964
First Capital Realty, Inc.	12,672		206,993
First Quantum Minerals Ltd.	76,409		1,152,525
Fortis, Inc.	28,370		924,313
Franco-Nevada Corp.	20,444		957,034
George Weston Ltd.	6,733		550,086
Gildan Activewear, Inc.	15,322		912,754
Goldcorp, Inc.	106,701		2,002,330
Great-West Lifeco, Inc. (d)	38,705		1,084,516
H&R REIT/H&R Finance Trust	17,898		356,197
Husky Energy, Inc.	45,008		1,086,613
IGM Financial, Inc. (d)	13,766		550,616
Imperial Oil Ltd.	39,233		1,887,765
Industrial Alliance Insurance and Financial Services, Inc.	13,061		526,357
Intact Financial Corp.	17,002		1,140,004
Inter Pipeline Ltd. (d)	41,636		1,311,827
Keyera Corp.	11,132		885,582
Kinross Gold Corp. (a)	152,152		325,351
Loblaw Companies Ltd.	29,941		1,559,945
Magna International, Inc. Class A (sub. vtg.)	28,509		2,813,842
Manulife Financial Corp.	243,077		4,613,298
MEG Energy Corp. (a)	19,778		477,318
Common Stocks - continued
	Shares		Value
Canada - continued
Methanex Corp.	12,241		$ 727,476
Metro, Inc. Class A (sub. vtg.)	11,531		810,306
National Bank of Canada (d)	42,885		2,004,509
New Gold, Inc. (a)	67,697		245,669
Onex Corp. (sub. vtg.)	11,300		637,564
Open Text Corp.	15,725		868,534
Pacific Rubiales Energy Corp.	42,340		638,641
Pembina Pipeline Corp. (d)	42,414		1,759,708
Pengrowth Energy Corp. (d)	70,746		285,608
Penn West Petroleum Ltd. (d)	61,744		279,397
Peyto Exploration & Development Corp. (d)	18,692		527,565
Potash Corp. of Saskatchewan, Inc.	110,909		3,785,696
Power Corp. of Canada (sub. vtg.)	48,045		1,267,786
Power Financial Corp.	32,586		954,407
RioCan (REIT)	19,466		458,562
Rogers Communications, Inc. Class B (non-vtg.) (d)	47,494		1,785,897
Royal Bank of Canada	188,626		13,390,680
Saputo, Inc.	33,728		957,031
Shaw Communications, Inc. Class B (d)	50,771		1,303,680
Silver Wheaton Corp.	46,559		809,273
SNC-Lavalin Group, Inc.	20,061		864,347
Sun Life Financial, Inc. (d)	80,085		2,848,683
Suncor Energy, Inc.	192,721		6,843,258
Talisman Energy, Inc.	132,878		847,693
Teck Resources Ltd. Class B (sub. vtg.) (d)	73,365		1,159,337
TELUS Corp.	26,599		953,226
The Toronto-Dominion Bank	241,029		11,862,720
Thomson Reuters Corp.	48,393		1,800,380
Tim Hortons, Inc.	4,141		335,504
Tim Hortons, Inc. (Canada)	13,758		1,114,751
Tourmaline Oil Corp. (a)	22,812		818,321
TransAlta Corp. (d)	35,170		342,011
TransCanada Corp.	92,935		4,580,577
Turquoise Hill Resources Ltd. (a)	106,973		358,776
Valeant Pharmaceuticals International (Canada) (a)	41,738		5,547,538
Vermilion Energy, Inc.	13,021		738,941
Yamana Gold, Inc.	117,917		469,764
TOTAL CANADA			176,161,414
Cayman Islands - 1.1%
AAC Technology Holdings, Inc.	94,000		563,886
Agile Property Holdings Ltd.	240,000		135,267
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
Agile Property Holdings Ltd. rights 11/11/14 (a)	18,250		$ 1,206
Anta Sports Products Ltd.	131,000		257,125
ASM Pacific Technology Ltd.	33,000		363,017
Belle International Holdings Ltd.	602,000		766,060
Biostime International Holdings Ltd.	22,000		49,811
Chailease Holding Co. Ltd.	122,440		301,905
Chaoda Modern Agriculture (Holdings) Ltd. (a)	58,000		1,682
China Huishan Dairy Hld Co. Ltd.	700,000		157,036
China Mengniu Dairy Co. Ltd.	181,000		799,514
China Resources Cement Holdings Ltd.	289,035		196,544
China Resources Land Ltd.	266,000		632,687
China State Construction International Holdings Ltd.	240,000		371,017
Country Garden Holdings Co. Ltd.	725,537		285,047
ENN Energy Holdings Ltd.	102,000		661,817
Evergrande Real Estate Group Ltd.	781,000		300,121
GCL-Poly Energy Holdings Ltd. (a)	1,247,000		420,267
Geely Automobile Holdings Ltd.	730,000		326,783
Golden Eagle Retail Group Ltd. (H Shares)	62,000		76,008
Haitian International Holdings Ltd.	84,000		180,187
Hengan International Group Co. Ltd.	98,000		1,032,994
Intime Department Store Group Co. Ltd.	196,500		171,129
Kingboard Chemical Holdings Ltd.	84,600		166,675
Kingsoft Corp. Ltd.	79,000		186,529
Lee & Man Paper Manufacturing Ltd.	194,000		106,463
Longfor Properties Co. Ltd.	169,500		196,626
MGM China Holdings Ltd.	123,600		397,349
New World China Land Ltd.	338,000		205,474
Sands China Ltd.	317,200		1,978,412
Shenzhou International Group Holdings Ltd.	75,000		258,934
Shimao Property Holdings Ltd.	185,500		399,240
Shui On Land Ltd.	433,170		98,888
Sino Biopharmaceutical Ltd.	388,000		390,634
SOHO China Ltd.	328,000		240,689
Tencent Holdings Ltd.	671,800		10,797,353
Tingyi (Cayman Islands) Holding Corp.	254,000		631,887
TPK Holding Co. Ltd.	34,496		203,324
Uni-President China Holdings Ltd.	150,020		139,394
Want Want China Holdings Ltd.	781,000		1,066,510
Wynn Macau Ltd.	205,600		743,266
Yingde Gases Group Co. Ltd.	121,000		94,482
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
Zhen Ding Technology Holding Ltd.	30,230		$ 82,928
Zhongsheng Group Holdings Ltd. Class H	70,000		72,094
TOTAL CAYMAN ISLANDS			26,508,261
Chile - 0.3%
AES Gener SA	290,161		160,909
Aguas Andinas SA	324,398		194,102
Banco de Chile	3,042,347		371,689
Banco de Credito e Inversiones	3,864		216,226
Banco Santander Chile	8,776,214		466,706
CAP SA	7,724		73,962
Cencosud SA	165,320		473,217
Colbun SA (a)	944,529		254,098
Compania Cervecerias Unidas SA	19,535		204,598
Compania de Petroleos de Chile SA (COPEC)	61,482		745,270
CorpBanca SA	15,574,022		208,134
Empresa Nacional de Electricidad SA	441,837		687,995
Empresa Nacional de Telecomunicaciones SA (ENTEL)	14,347		154,585
Empresas CMPC SA	169,520		413,916
Enersis SA	2,625,944		839,689
LATAM Airlines Group SA (a)	44,439		535,196
LATAM Airlines Group SA sponsored ADR (a)	341		4,160
S.A.C.I. Falabella	130,262		951,011
Vina Concha y Toro SA	59,320		113,420
TOTAL CHILE			7,068,883
China - 2.2%
Agricultural Bank of China Ltd. (H Shares)	2,814,000		1,307,647
Air China Ltd. (H Shares)	222,000		143,767
Aluminum Corp. of China Ltd. (H Shares) (a)	544,000		242,157
Anhui Conch Cement Co. Ltd. (H Shares)	167,500		548,540
AviChina Industry & Technology Co. Ltd. (H Shares)	292,000		222,423
Bank Communications Co. Ltd. (H Shares)	1,119,200		839,186
Bank of China Ltd. (H Shares)	10,400,024		4,977,985
BBMG Corp. (H Shares)	124,500		88,035
Beijing Capital International Airport Co. Ltd. (H Shares)	312,000		228,993
BYD Co. Ltd. (H Shares)	80,500		511,394
Changsha Zoomlion Heavy Industry Science & Technology Development Co. Ltd. (H Shares)	149,240		71,792
China BlueChemical Ltd. (H Shares)	194,000		68,892
China Cinda Asset Mngmt Co. Ltd. (H Shares)	669,000		316,628
China CITIC Bank Corp. Ltd. (H Shares)	1,063,293		692,682
China Coal Energy Co. Ltd. (H Shares)	562,000		344,288
Common Stocks - continued
	Shares		Value
China - continued
China Communications Construction Co. Ltd. (H Shares)	587,000		$ 450,630
China Communications Services Corp. Ltd. (H Shares)	258,000		121,145
China Construction Bank Corp. (H Shares)	9,450,649		7,051,123
China Cosco Holdings Co. Ltd. (H Shares) (a)	282,000		126,633
China Everbright Bank Co. Ltd. (H Shares)	300,000		147,092
China International Marine Containers (Group) Ltd. (H Shares)	75,200		175,639
China Life Insurance Co. Ltd. (H Shares)	975,000		2,909,372
China Longyuan Power Grid Corp. Ltd. (H Shares)	389,000		414,825
China Merchants Bank Co. Ltd. (H Shares)	601,191		1,114,142
China Minsheng Banking Corp. Ltd. (H Shares)	806,360		809,022
China National Building Materials Co. Ltd. (H Shares)	386,000		357,886
China Oilfield Services Ltd. (H Shares)	228,000		476,530
China Pacific Insurance Group Co. Ltd. (H Shares)	345,600		1,293,290
China Petroleum & Chemical Corp. (H Shares)	3,353,800		2,908,456
China Railway Construction Corp. Ltd. (H Shares)	236,000		247,941
China Railway Group Ltd. (H Shares)	490,000		302,282
China Shenhua Energy Co. Ltd. (H Shares)	437,500		1,233,110
China Shipping Container Lines Co. Ltd. (H Shares) (a)	501,000		142,883
China Telecom Corp. Ltd. (H Shares)	1,920,000		1,223,914
China Vanke Co. Ltd. (H Shares) (a)	173,400		323,042
Chongqing Changan Automobile Co. Ltd. (B Shares)	108,000		238,679
Chongqing Rural Commercial Bank Co. Ltd. (H Shares)	275,000		132,347
CITIC Securities Co. Ltd. (H Shares)	140,500		350,570
CSR Corp. Ltd. (H Shares)	278,000		282,834
Datang International Power Generation Co. Ltd. (H Shares)	360,000		188,530
Dongfeng Motor Group Co. Ltd. (H Shares)	356,000		550,539
Great Wall Motor Co. Ltd. (H Shares)	131,500		577,898
Guangzhou Automobile Group Co. Ltd. (H Shares)	271,376		241,451
Guangzhou R&F Properties Co. Ltd. (H Shares)	111,600		121,722
Haitong Securities Co. Ltd. (H Shares)	166,000		285,009
Huaneng Power International, Inc. (H Shares)	422,000		518,824
Industrial & Commercial Bank of China Ltd. (H Shares)	9,667,008		6,418,506
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)	150,200		245,055
Jiangsu Expressway Co. Ltd. (H Shares)	146,000		163,087
Jiangxi Copper Co. Ltd. (H Shares)	163,000		289,533
New China Life Insurance Co. Ltd. (H Shares)	116,500		435,964
People's Insurance Co. of China Group (H Shares)	883,000		381,671
PetroChina Co. Ltd. (H Shares)	2,772,000		3,470,390
PICC Property & Casualty Co. Ltd. (H Shares)	414,020		759,494
Ping An Insurance (Group) Co. of China Ltd. (H Shares)	266,500		2,178,567
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)	264,000		266,966
Shanghai Electric Group Co. Ltd. (H Shares)	412,000		206,420
Common Stocks - continued
	Shares		Value
China - continued
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. Class H	58,000		$ 208,817
Shanghai Pharma Holding Co. Ltd. (H Shares)	87,600		219,223
Sinopec Engineering Group Co. Ltd. (H Shares) (e)	169,000		163,452
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares)	410,000		127,120
Sinopharm Group Co. Ltd. (H Shares)	132,400		517,233
Tsingtao Brewery Co. Ltd. (H Shares)	48,000		354,825
Weichai Power Co. Ltd. (H Shares)	65,200		250,282
Yanzhou Coal Mining Co. Ltd. (H Shares)	216,000		182,648
Zhejiang Expressway Co. Ltd. (H Shares)	180,000		181,505
Zhuzhou CSR Times Electric Co. Ltd. (H Shares)	58,000		249,421
Zijin Mining Group Co. Ltd. (H Shares)	1,023,000		261,951
ZTE Corp. (H Shares)	70,680		171,402
TOTAL CHINA			53,625,301
Colombia - 0.1%
Almacenes Exito SA	25,017		352,852
BanColombia SA sponsored ADR	500		28,285
Cementos Argos SA	49,542		252,827
Cemex Latam Holdings SA (a)	23,421		208,996
Corporacion Financiera Colombiana SA	9,665		190,247
Ecopetrol SA	650,369		869,266
Grupo de Inversiones Suramerica SA	29,663		616,760
Interconexion Electrica SA ESP	47,592		203,553
Inversiones Argos SA	37,364		406,419
Isagen SA	105,787		139,335
TOTAL COLOMBIA			3,268,540
Czech Republic - 0.1%
Ceske Energeticke Zavody A/S	20,681		572,018
Komercni Banka A/S	2,035		435,898
Telefonica Czech Rep A/S	12,712		142,015
TOTAL CZECH REPUBLIC			1,149,931
Denmark - 1.0%
A.P. Moller - Maersk A/S:
Series A	500		1,135,617
Series B	941		2,192,683
Carlsberg A/S Series B	13,691		1,205,555
Coloplast A/S Series B	14,781		1,286,603
Danske Bank A/S	85,963		2,357,669
DSV de Sammensluttede Vognmaend A/S	23,674		707,888
Novo Nordisk A/S:
Series B	243,150		10,991,042
Common Stocks - continued
	Shares		Value
Denmark - continued
Novo Nordisk A/S: - continued
Series B sponsored ADR	19,990		$ 903,148
Novozymes A/S Series B	31,397		1,456,330
Pandora A/S	14,769		1,243,286
TDC A/S	103,126		786,706
Tryg A/S	3,255		351,833
Vestas Wind Systems A/S (a)	30,038		1,005,397
William Demant Holding A/S (a)	2,773		210,140
TOTAL DENMARK			25,833,897
Egypt - 0.1%
Commercial International Bank SAE	82,330		563,064
Commercial International Bank SAE sponsored GDR	32,139		218,545
Global Telecom Holding (a)	312,279		188,676
Global Telecom Holding GDR (a)	10,000		30,030
Talaat Moustafa Group Holding	144,904		212,997
Telecom Egypt SAE	31,730		60,353
TOTAL EGYPT			1,273,665
Finland - 0.6%
Elisa Corp. (A Shares)	18,298		502,170
Fortum Corp.	57,701		1,336,975
Kone Oyj (B Shares) (d)	40,887		1,757,448
Metso Corp.	15,273		498,198
Neste Oil Oyj	16,610		359,056
Nokia Corp.	465,770		3,891,926
Nokia Corp. sponsored ADR	24,591		203,368
Nokian Tyres PLC	15,029		423,567
Orion Oyj (B Shares) (d)	12,518		424,959
Sampo Oyj (A Shares)	58,182		2,783,004
Stora Enso Oyj (R Shares)	73,116		602,436
UPM-Kymmene Corp.	69,168		1,093,875
Wartsila Corp. (d)	21,792		1,009,328
TOTAL FINLAND			14,886,310
France - 6.1%
Accor SA	22,670		951,983
Aeroports de Paris	3,908		462,110
Air Liquide SA	12,167		1,467,531
Air Liquide SA	20,240		2,441,262
Alcatel-Lucent SA (a)	345,326		1,055,068
Alcatel-Lucent SA sponsored ADR	27,139		81,417
Alstom SA (a)	28,107		981,026
Common Stocks - continued
	Shares		Value
France - continued
Arkema SA	7,736		$ 477,157
Atos Origin SA	10,678		737,167
AXA SA	230,809		5,324,877
AXA SA sponsored ADR	7,019		162,911
BIC SA	3,749		467,316
BNP Paribas SA	138,611		8,709,337
Bollore Group (d)	736		348,636
Bollore Group (a)	3		1,372
Bouygues SA	24,886		859,171
Bureau Veritas SA	27,817		687,766
Cap Gemini SA	19,109		1,256,230
Carrefour SA	81,741		2,393,876
Casino Guichard Perrachon SA	7,465		765,033
Christian Dior SA	7,092		1,254,448
CNP Assurances	23,142		432,396
Compagnie de St. Gobain	58,245		2,499,533
Credit Agricole SA	131,759		1,947,517
Danone SA	75,788		5,178,787
Dassault Systemes SA	16,561		1,049,500
Edenred SA	25,898		717,235
EDF SA	7,784		229,719
EDF SA	14,200		419,066
EDF SA	9,060		267,376
Essilor International SA	26,784		2,957,021
Eurazeo SA	5,144		343,905
Eutelsat Communications	20,133		652,439
Fonciere des Regions	3,357		308,360
GDF Suez	189,364		4,592,970
Gecina SA	3,853		521,466
Groupe Eurotunnel SA	65,001		821,077
ICADE	4,576		364,078
Iliad SA	3,488		762,737
Imerys SA	4,731		339,178
JCDecaux SA	9,500		315,123
Kering SA	10,008		1,930,768
Klepierre SA	12,855		555,769
L'Oreal SA	9,855		1,544,959
L'Oreal SA	8,931		1,400,105
L'Oreal SA	14,100		2,210,444
Lafarge SA (a)	7,503		520,046
Lafarge SA	10,300		713,911
Lafarge SA (Bearer)	6,732		466,607
Common Stocks - continued
	Shares		Value
France - continued
Lagardere S.C.A. (Reg.)	16,266		$ 395,750
Legrand SA	35,203		1,894,283
LVMH Moet Hennessy - Louis Vuitton SA	36,531		6,196,164
Michelin CGDE Series B	24,392		2,114,919
Natixis SA	118,799		817,461
Numericable Group SA	12,000		443,615
Orange SA	242,612		3,862,474
Pernod Ricard SA	27,695		3,152,345
Peugeot Citroen SA (a)	50,092		593,705
Publicis Groupe SA (a)	23,951		1,658,885
Remy Cointreau SA	2,788		198,342
Renault SA	25,175		1,868,591
Rexel SA	33,931		569,989
Safran SA	35,304		2,234,181
Sanofi SA	146,617		13,304,041
Sanofi SA sponsored ADR	17,693		818,124
Schneider Electric SA	68,147		5,369,852
SCOR SE	19,446		595,572
Societe Generale Series A	94,317		4,540,397
Sodexo SA	4,580		441,190
Sodexo SA	6,008		578,748
Sodexo SA	1,778		171,274
Suez Environnement SA	37,449		630,259
Technip SA	13,091		946,896
Thales SA	12,642		627,198
Total SA	264,969		15,819,525
Total SA sponsored ADR	15,548		931,170
Unibail-Rodamco	12,805		3,280,724
Valeo SA	9,707		1,086,639
Vallourec SA	14,829		541,957
Veolia Environnement SA (d)	49,419		820,791
Veolia Environnement SA sponsored ADR	5,633		91,649
VINCI SA	63,367		3,611,095
Vivendi SA	158,265		3,862,473
Wendel SA	4,194		462,187
Zodiac Aerospace	23,969		730,944
TOTAL FRANCE			150,211,195
Germany - 5.4%
adidas AG	27,397		1,993,005
Allianz SE	59,064		9,392,484
Allianz SE sponsored ADR	7,019		111,742
Common Stocks - continued
	Shares		Value
Germany - continued
Axel Springer Verlag AG	5,184		$ 284,474
BASF AG	120,391		10,596,967
Bayer AG	108,355		15,404,816
Bayerische Motoren Werke AG (BMW)	43,081		4,606,167
Beiersdorf AG	13,538		1,095,270
Brenntag AG	20,092		971,882
Celesio AG	9,036		297,807
Commerzbank AG (a)	126,659		1,907,054
Continental AG	14,377		2,822,291
Daimler AG (Germany)	126,028		9,796,521
Deutsche Bank AG	173,763		5,433,812
Deutsche Bank AG (NY Shares)	7,101		222,403
Deutsche Boerse AG	25,196		1,721,119
Deutsche Lufthansa AG	28,808		425,628
Deutsche Post AG	126,524		3,972,559
Deutsche Telekom AG	408,108		6,151,546
Deutsche Wohnen AG (Bearer)	36,898		831,372
E.ON AG	262,004		4,507,975
Fraport AG Frankfurt Airport Services Worldwide	4,359		269,410
Fresenius Medical Care AG & Co. KGaA	26,045		1,911,644
Fresenius Medical Care AG & Co. KGaA sponsored ADR (d)	4,913		179,865
Fresenius SE & Co. KGaA	49,521		2,547,450
GEA Group AG	23,542		1,082,563
Hannover Reuck SE	7,910		659,077
HeidelbergCement Finance AG	18,234		1,241,209
Henkel AG & Co. KGaA	15,935		1,447,948
Hochtief AG	3,697		273,295
Hugo Boss AG (a)	4,189		555,654
Infineon Technologies AG	147,750		1,433,269
K&S AG	23,327		650,856
Kabel Deutschland Holding AG	2,593		350,937
Lanxess AG	11,556		600,689
Linde AG	24,301		4,481,129
MAN SE	4,750		541,019
Merck KGaA	17,163		1,550,068
Metro AG (a)	21,446		683,666
Muenchener Rueckversicherungs AG	22,599		4,441,982
OSRAM Licht AG (a)	12,102		424,031
ProSiebenSat.1 Media AG	28,705		1,156,669
RWE AG	61,775		2,187,701
SAP AG	114,453		7,798,304
SAP AG sponsored ADR	6,389		435,283
Common Stocks - continued
	Shares		Value
Germany - continued
Siemens AG	97,973		$ 11,050,709
Siemens AG sponsored ADR (d)	5,955		671,367
Sky Deutschland AG (a)	56,604		477,381
Telefonica Deutschland Holding AG	74,364		365,395
Thyssenkrupp AG (a)	58,270		1,400,179
United Internet AG	15,990		625,282
Volkswagen AG	3,738		794,921
TOTAL GERMANY			134,835,846
Greece - 0.1%
Alpha Bank AE (a)	508,025		331,048
EFG Eurobank Ergasias SA (a)	1,075,861		373,456
Folli Follie SA	4,000		130,829
Greek Organization of Football Prognostics SA	31,889		386,430
Hellenic Telecommunications Organization SA (a)	33,024		372,870
Jumbo SA	12,022		131,822
National Bank of Greece SA (a)	200,918		484,635
Piraeus Bank SA (a)	271,018		393,966
Public Power Corp. of Greece (a)	15,720		119,379
Titan Cement Co. SA (Reg.)	5,335		118,267
TOTAL GREECE			2,842,702
Hong Kong - 2.8%
AIA Group Ltd.	1,576,800		8,799,214
Bank of East Asia Ltd.	164,885		688,573
Beijing Enterprises Holdings Ltd.	65,500		534,787
BOC Hong Kong (Holdings) Ltd.	488,000		1,624,508
Cathay Pacific Airways Ltd.	143,000		268,218
Cheung Kong Holdings Ltd.	182,000		3,230,914
China Agri-Industries Holdings Ltd.	272,382		104,062
China Everbright International Ltd.	344,000		474,968
China Everbright Ltd.	120,000		233,423
China Merchants Holdings International Co. Ltd.	151,485		478,844
China Mobile Ltd.	798,500		9,935,351
China Overseas Land and Investment Ltd.	538,000		1,560,973
China Resources Enterprise Ltd.	166,000		394,830
China Resources Power Holdings Co. Ltd.	246,000		716,019
China Taiping Insurance Group Ltd. (a)	141,000		302,685
China Taiping Insurance Group Ltd. rights 11/18/14 (a)	24,654		15,100
China Unicom Ltd.	612,000		919,539
CITIC Pacific Ltd.	287,000		502,874
CLP Holdings Ltd.	247,000		2,126,946
Common Stocks - continued
	Shares		Value
Hong Kong - continued
CNOOC Ltd.	2,348,000		$ 3,676,708
CSPC Pharmaceutical Group Ltd.	312,000		287,436
Far East Horizon Ltd.	154,000		143,229
Fosun International Ltd.	233,500		276,968
Franshion Properties China Ltd.	450,000		106,228
Galaxy Entertainment Group Ltd.	306,000		2,092,397
Guangdong Investment Ltd.	342,000		449,875
Hang Lung Properties Ltd.	282,000		880,610
Hang Seng Bank Ltd.	100,400		1,701,210
Henderson Land Development Co. Ltd.	154,236		1,041,984
HKT Trust/HKT Ltd. unit	350,640		427,162
Hong Kong & China Gas Co. Ltd.	825,494		1,927,683
Hong Kong Exchanges and Clearing Ltd.	145,090		3,215,852
Hutchison Whampoa Ltd.	279,000		3,537,877
Hysan Development Co. Ltd.	83,434		380,697
Lenovo Group Ltd.	824,000		1,214,580
Link (REIT)	299,230		1,759,651
MTR Corp. Ltd.	184,824		753,617
New World Development Co. Ltd.	682,053		857,346
PCCW Ltd.	496,690		315,754
Poly Property Group Co. Ltd.	218,000		84,450
Power Assets Holdings Ltd.	181,000		1,747,620
Shanghai Industrial Holdings Ltd.	76,000		234,333
Sino Land Ltd.	393,142		649,816
Sino-Ocean Land Holdings Ltd.	403,913		230,946
SJM Holdings Ltd.	241,000		509,376
Sun Art Retail Group Ltd.	325,000		348,410
Sun Hung Kai Properties Ltd.	213,583		3,186,894
Sun Hung Kai Properties Ltd. warrants 4/22/16 (a)	16,378		35,742
Swire Pacific Ltd. (A Shares)	89,500		1,173,932
Swire Properties Ltd.	150,200		481,287
Techtronic Industries Co. Ltd.	172,500		540,029
Wharf Holdings Ltd.	200,000		1,479,225
Wheelock and Co. Ltd.	118,000		568,774
Yuexiu Property Co. Ltd.	968,000		178,529
TOTAL HONG KONG			69,408,055
Hungary - 0.0%
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)	5,818		276,862
OTP Bank PLC	28,156		465,517
Richter Gedeon PLC	19,836		302,787
TOTAL HUNGARY			1,045,166
Common Stocks - continued
	Shares		Value
India - 1.5%
ABB Ltd. India	4		$ 76
ACC Ltd.	3,816		93,150
Adani Enterprises Ltd.	13,112		103,456
Adani Ports & Special Economic Zone	62,610		291,020
Aditya Birla Nuvo Ltd.	3,881		106,291
Ambuja Cements Ltd.	73,726		273,076
Apollo Hospitals Enterprise Ltd. (a)	8,545		155,071
Asian Paints India Ltd.	36,737		392,486
Aurobindo Pharma Ltd.	17,162		270,654
Bajaj Auto Ltd. (a)	10,063		427,708
Bharat Heavy Electricals Ltd.	71,689		299,501
Bharat Petroleum Corp. Ltd.	19,971		233,803
Bharti Airtel Ltd. (a)	78,037		507,081
Cairn India Ltd.	55,467		256,941
Cipla Ltd.	44,956		488,116
Coal India Ltd.	64,942		391,595
Dabur India Ltd.	58,356		215,093
Divi's Laboratories Ltd. (a)	4,669		142,402
DLF Ltd. (a)	46,779		95,123
Dr. Reddy's Laboratories Ltd. (a)	15,247		785,923
GAIL India Ltd.	37,730		324,287
GlaxoSmithKline Consumer Healthcare Ltd.	920		82,838
Godrej Consumer Products Ltd.	14,269		225,288
HCL Technologies Ltd.	31,965		838,320
HDFC Bank Ltd.	58,534		949,150
Hero Motocorp Ltd.	9,086		453,703
Hindalco Industries Ltd. (a)	146,692		390,114
Hindustan Unilever Ltd.	96,298		1,157,128
Housing Development Finance Corp. Ltd.	193,615		3,486,858
ICICI Bank Ltd. (a)	37,282		990,098
Idea Cellular Ltd. (a)	123,904		328,261
Indiabulls Wholesale Services Ltd. (a)	510		139
Infosys Ltd.	59,011		3,911,556
Infosys Ltd. sponsored ADR	1,000		66,860
ITC Ltd. (a)	290,010		1,676,811
Jaiprakash Associates Ltd. (a)	105,676		53,600
Jindal Steel & Power Ltd.	40,499		106,707
JSW Steel Ltd.	11,042		226,760
Larsen & Toubro Ltd. (a)	39,091		1,053,472
LIC Housing Finance Ltd.	33,932		199,817
Mahindra & Mahindra Financial Services Ltd.	37,247		177,937
Mahindra & Mahindra Ltd. (a)	44,550		947,213
Common Stocks - continued
	Shares		Value
India - continued
Nestle India Ltd.	2,946		$ 304,402
NTPC Ltd.	209,393		511,356
Oil & Natural Gas Corp. Ltd.	97,409		637,449
Oil India Ltd.	14,141		145,518
Piramal Enterprises Ltd. (a)	8,774		115,191
Power Finance Corp. Ltd.	31,272		143,772
Power Grid Corp. of India Ltd.	138,576		328,798
Ranbaxy Laboratories Ltd. (a)	13,966		143,982
Reliance Capital Ltd. (a)	8,828		68,243
Reliance Communication Ltd. (a)	102,268		176,590
Reliance Industries Ltd.	168,412		2,733,137
Reliance Infrastructure Ltd. (a)	13,719		142,265
Reliance Power Ltd. (a)	77,682		96,487
Rural Electrification Corp. Ltd.	32,546		159,872
Sesa Sterlite Ltd.	155,403		648,383
Shriram Transport Finance Co. Ltd.	16,890		261,283
Siemens India Ltd.	9,272		131,784
State Bank of India	18,605		818,739
Sun Pharmaceutical Industries Ltd.	92,585		1,274,140
Tata Consultancy Services Ltd.	61,394		2,612,162
Tata Motors Ltd. (a)	86,399		754,836
Tata Motors Ltd. sponsored ADR	2,100		98,910
Tata Power Co. Ltd. (a)	152,066		232,127
Tata Steel Ltd.	36,746		293,290
Tech Mahindra Ltd.	6,509		266,815
Ultratech Cemco Ltd. (a)	4,917		203,980
United Breweries Ltd.	7,167		81,517
United Spirits Ltd. (a)	9,937		447,018
Wipro Ltd.	77,469		715,593
Yes Bank Ltd.	22,921		259,550
TOTAL INDIA			37,982,672
Indonesia - 0.6%
PT Adaro Energy Tbk	1,834,500		172,512
PT Astra Agro Lestari Tbk	40,000		77,799
PT Astra International Tbk	2,628,900		1,474,054
PT Bank Central Asia Tbk	1,611,400		1,739,572
PT Bank Danamon Indonesia Tbk Series A	394,213		137,481
PT Bank Mandiri (Persero) Tbk	1,200,800		1,031,312
PT Bank Negara Indonesia (Persero) Tbk	985,489		485,713
PT Bank Rakyat Indonesia Tbk	1,450,300		1,329,049
PT Bumi Serpong Damai Tbk	1,100,300		146,221
Common Stocks - continued
	Shares		Value
Indonesia - continued
PT Charoen Pokphand Indonesia Tbk	1,006,800		$ 350,139
PT Global Mediacom Tbk	833,000		135,196
PT Gudang Garam Tbk	65,500		313,448
PT Indo Tambangraya Megah Tbk	45,500		79,835
PT Indocement Tunggal Prakarsa Tbk	206,100		408,487
PT Indofood CBP Sukses Makmur Tbk	143,500		131,229
PT Indofood Sukses Makmur Tbk	579,500		327,323
PT Jasa Marga Tbk	246,500		129,599
PT Kalbe Farma Tbk	2,693,300		380,274
PT Lippo Karawaci Tbk	2,655,400		235,196
PT Matahari Department Store Tbk	253,300		306,689
PT Media Nusantara Citra Tbk	636,500		147,560
PT Perusahaan Gas Negara Tbk Series B	1,411,300		695,192
PT Semen Gresik (Persero) Tbk	372,500		489,298
PT Surya Citra Media Tbk	490,000		137,160
PT Tambang Batubara Bukit Asam Tbk	96,500		103,530
PT Telkomunikasi Indonesia Tbk Series B	6,648,600		1,514,202
PT Tower Bersama Infrastructure Tbk	283,200		208,604
PT Unilever Indonesia Tbk	210,900		530,997
PT United Tractors Tbk	232,812		353,640
PT XL Axiata Tbk	422,200		193,072
TOTAL INDONESIA			13,764,383
Ireland - 0.2%
Bank of Ireland (a)	3,626,022		1,427,402
CRH PLC	90,696		2,011,949
CRH PLC sponsored ADR	5,615		125,832
James Hardie Industries PLC CDI	60,892		649,513
Kerry Group PLC Class A	21,044		1,429,060
Ryanair Holdings PLC (a)	5,111		48,712
Ryanair Holdings PLC sponsored ADR (a)	2,650		147,181
TOTAL IRELAND			5,839,649
Isle of Man - 0.0%
Genting Singapore PLC	824,000		705,731
Israel - 0.4%
Bank Hapoalim BM (Reg.)	135,650		690,305
Bank Leumi le-Israel BM (a)	173,548		614,653
Bezeq The Israel Telecommunication Corp. Ltd.	250,812		424,020
Delek Group Ltd.	630		215,501
Israel Chemicals Ltd.	60,680		407,626
Israel Corp. Ltd. (Class A) (a)	376		184,020
Common Stocks - continued
	Shares		Value
Israel - continued
Mizrahi Tefahot Bank Ltd. (a)	17,819		$ 196,080
NICE Systems Ltd.	4,168		168,981
NICE Systems Ltd. sponsored ADR	2,788		113,416
Teva Pharmaceutical Industries Ltd.	80,479		4,542,827
Teva Pharmaceutical Industries Ltd. sponsored ADR	31,561		1,782,250
TOTAL ISRAEL			9,339,679
Italy - 1.5%
Assicurazioni Generali SpA	152,593		3,124,566
Atlantia SpA	53,116		1,251,372
Banca Monte dei Paschi di Siena SpA (a)	567,657		432,507
Banco Popolare Societa Cooperativa (a)	46,594		673,812
Enel Green Power SpA	219,360		538,237
Enel SpA	861,498		4,393,916
Eni SpA	319,849		6,814,352
Eni SpA sponsored ADR	7,019		298,308
EXOR SpA	13,249		576,954
Finmeccanica SpA (a)	53,826		484,980
Intesa Sanpaolo SpA	1,519,256		4,466,247
Intesa Sanpaolo SpA (Risparmio Shares)	125,657		320,288
Luxottica Group SpA	18,905		964,301
Luxottica Group SpA sponsored ADR	3,019		153,365
Mediobanca SpA	81,238		714,660
Pirelli & C. SpA	32,330		432,693
Prysmian SpA	25,150		434,931
Saipem SpA (a)	33,175		519,666
Snam Rete Gas SpA	269,494		1,455,558
Telecom Italia SpA (a)	1,270,859		1,440,242
Telecom Italia SpA sponsored ADR (a)	7,019		79,315
Terna SpA	195,945		986,614
UniCredit SpA	577,600		4,169,200
Unione di Banche Italiane ScpA	113,934		891,639
Unipolsai SpA	125,646		336,950
TOTAL ITALY			35,954,673
Japan - 14.5%
ABC-MART, Inc.	3,400		196,046
ACOM Co. Ltd. (a)	51,300		170,996
Advantest Corp.	22,900		267,029
AEON Co. Ltd.	83,000		821,272
AEON Financial Service Co. Ltd.	14,800		309,299
AEON Mall Co. Ltd.	16,020		294,060
Common Stocks - continued
	Shares		Value
Japan - continued
Air Water, Inc.	20,000		$ 318,806
Aisin Seiki Co. Ltd.	25,100		836,051
Ajinomoto Co., Inc.	77,000		1,453,811
Alfresa Holdings Corp.	23,600		299,482
All Nippon Airways Ltd.	144,000		333,887
Amada Co. Ltd.	47,400		413,969
Aozora Bank Ltd.	151,000		530,751
Asahi Glass Co. Ltd.	136,000		707,837
Asahi Group Holdings	50,400		1,563,350
Asahi Kasei Corp.	167,000		1,370,438
Asics Corp.	21,100		494,097
Astellas Pharma, Inc.	281,100		4,362,812
Bandai Namco Holdings, Inc.	23,000		570,808
Bank of Kyoto Ltd.	45,000		389,950
Bank of Yokohama Ltd.	147,000		849,549
Benesse Holdings, Inc.	8,500		268,211
Bridgestone Corp.	85,100		2,843,850
Brother Industries Ltd.	31,000		551,941
Calbee, Inc.	10,200		357,248
Canon, Inc.	137,600		4,221,593
Canon, Inc. sponsored ADR	11,056		342,957
Casio Computer Co. Ltd. (d)	27,000		430,530
Central Japan Railway Co.	18,800		2,804,002
Chiba Bank Ltd.	93,000		660,580
Chiyoda Corp.	21,000		216,338
Chubu Electric Power Co., Inc. (a)	85,600		1,027,164
Chugai Pharmaceutical Co. Ltd.	29,300		915,998
Chugoku Electric Power Co., Inc.	39,000		514,325
Citizen Holdings Co. Ltd.	38,100		250,292
Credit Saison Co. Ltd.	18,500		390,542
Dai Nippon Printing Co. Ltd.	76,000		749,117
Dai-ichi Mutual Life Insurance Co.	139,800		2,115,692
Daicel Chemical Industries Ltd.	36,000		414,989
Daido Steel Co. Ltd.	32,000		122,760
Daihatsu Motor Co. Ltd.	25,000		354,824
Daiichi Sankyo Kabushiki Kaisha	82,600		1,242,455
Daikin Industries Ltd.	30,800		1,925,249
Dainippon Sumitomo Pharma Co. Ltd.	20,600		242,996
Daito Trust Construction Co. Ltd.	9,500		1,183,708
Daiwa House Industry Co. Ltd.	77,800		1,471,944
Daiwa Securities Group, Inc.	219,000		1,730,749
DeNA Co. Ltd.	15,400		199,001
Common Stocks - continued
	Shares		Value
Japan - continued
DENSO Corp.	63,600		$ 2,915,018
Dentsu, Inc.	27,900		1,037,308
Don Quijote Holdings Co. Ltd.	7,600		455,361
East Japan Railway Co.	43,900		3,428,732
Eisai Co. Ltd.	33,500		1,310,158
Electric Power Development Co. Ltd.	15,400		538,555
FamilyMart Co. Ltd.	7,000		281,071
Fanuc Corp.	25,100		4,423,518
Fast Retailing Co. Ltd.	7,000		2,602,303
Fuji Electric Co. Ltd.	78,000		342,691
Fuji Heavy Industries Ltd.	76,900		2,559,474
Fujifilm Holdings Corp.	60,900		2,044,327
Fujitsu Ltd.	241,000		1,465,151
Fukuoka Financial Group, Inc.	101,000		516,822
GREE, Inc. (d)	12,400		88,804
GungHo Online Entertainment, Inc. (d)	51,300		206,770
Gunma Bank Ltd.	51,000		318,264
Hakuhodo DY Holdings, Inc.	31,500		311,520
Hamamatsu Photonics K.K.	9,600		436,131
Hankyu Hanshin Holdings, Inc.	153,000		899,574
Hikari Tsushin, Inc.	2,500		165,838
Hino Motors Ltd.	33,100		484,355
Hirose Electric Co. Ltd.	3,800		465,919
Hiroshima Bank Ltd.	62,000		309,962
Hisamitsu Pharmaceutical Co., Inc.	7,300		245,727
Hitachi Chemical Co. Ltd.	12,900		227,369
Hitachi Construction Machinery Co. Ltd.	14,500		296,589
Hitachi High-Technologies Corp.	8,500		259,671
Hitachi Ltd.	633,000		4,973,782
Hitachi Metals Ltd.	28,000		472,718
Hokuhoku Financial Group, Inc.	166,000		333,474
Hokuriku Electric Power Co., Inc.	23,000		310,507
Honda Motor Co. Ltd.	203,200		6,496,150
Honda Motor Co. Ltd. sponsored ADR	10,556		339,059
Hoya Corp.	57,100		2,020,589
Hulic Co. Ltd.	32,000		354,031
Ibiden Co. Ltd.	17,100		257,047
Idemitsu Kosan Co. Ltd.	10,400		201,132
Iida Group Holdings Co. Ltd.	21,100		234,467
INPEX Corp.	116,300		1,487,528
Isetan Mitsukoshi Holdings Ltd.	45,000		612,633
Ishikawajima-Harima Heavy Industries Co. Ltd.	187,000		901,458
Common Stocks - continued
	Shares		Value
Japan - continued
Isuzu Motors Ltd.	78,000		$ 1,017,696
Itochu Corp.	197,200		2,383,861
ITOCHU Techno-Solutions Corp.	3,200		127,228
Iyo Bank Ltd.	31,100		332,099
J. Front Retailing Co. Ltd.	31,500		419,260
Japan Airlines Co. Ltd.	15,800		424,263
Japan Display, Inc.	40,000		118,738
Japan Exchange Group, Inc.	33,500		831,004
Japan Prime Realty Investment Corp.	99		364,586
Japan Real Estate Investment Corp.	160		871,880
Japan Retail Fund Investment Corp.	322		648,330
Japan Tobacco, Inc.	143,900		4,909,732
JFE Holdings, Inc.	64,700		1,283,646
JGC Corp.	28,000		719,594
Joyo Bank Ltd.	88,000		471,210
JSR Corp.	23,400		421,393
JTEKT Corp.	27,000		434,246
JX Holdings, Inc.	288,910		1,237,590
Kajima Corp.	111,000		493,901
Kakaku.com, Inc.	18,600		253,248
Kamigumi Co. Ltd.	28,000		269,972
Kaneka Corp.	40,000		219,773
Kansai Electric Power Co., Inc. (a)	92,300		911,510
Kansai Paint Co. Ltd.	31,000		473,883
Kao Corp.	67,500		2,632,102
Kawasaki Heavy Industries Ltd.	188,000		738,444
KDDI Corp.	76,300		5,010,580
Keihin Electric Express Railway Co. Ltd.	59,000		490,875
Keio Corp.	76,000		577,276
Keisei Electric Railway Co.	37,000		434,881
Keyence Corp.	5,970		2,892,959
Kikkoman Corp.	18,000		414,022
Kintetsu Corp.	238,000		827,905
Kirin Holdings Co. Ltd.	109,000		1,413,164
Kobe Steel Ltd.	409,000		649,839
Koito Manufacturing Co. Ltd.	12,900		388,707
Komatsu Ltd.	121,900		2,877,981
Konami Corp.	12,000		240,939
Konica Minolta, Inc.	62,100		693,889
Kubota Corp.	147,000		2,339,948
Kuraray Co. Ltd.	44,200		513,386
Kurita Water Industries Ltd.	12,200		263,268
Common Stocks - continued
	Shares		Value
Japan - continued
Kyocera Corp.	41,400		$ 1,908,187
Kyocera Corp. sponsored ADR	772		35,813
Kyowa Hakko Kirin Co., Ltd.	31,000		361,564
Kyushu Electric Power Co., Inc. (a)	55,500		602,156
Lawson, Inc.	8,600		583,401
LIXIL Group Corp.	34,900		765,370
M3, Inc.	24,700		412,205
Mabuchi Motor Co. Ltd.	3,300		285,037
Makita Corp.	15,400		862,386
Marubeni Corp.	217,800		1,400,334
Marui Group Co. Ltd.	33,400		282,271
Maruichi Steel Tube Ltd.	6,100		144,054
Mazda Motor Corp.	71,300		1,684,591
McDonald's Holdings Co. (Japan) Ltd. (d)	7,900		192,819
Medipal Holdings Corp.	15,600		172,913
Meiji Holdings Co. Ltd.	7,700		646,050
Miraca Holdings, Inc.	6,700		281,262
Mitsubishi Chemical Holdings Corp.	172,300		848,731
Mitsubishi Corp.	184,400		3,615,780
Mitsubishi Electric Corp.	253,000		3,262,131
Mitsubishi Estate Co. Ltd.	164,000		4,177,860
Mitsubishi Gas Chemical Co., Inc.	52,000		311,126
Mitsubishi Heavy Industries Ltd.	398,000		2,482,738
Mitsubishi Logistics Corp.	15,000		228,472
Mitsubishi Materials Corp.	150,000		469,487
Mitsubishi Motors Corp. of Japan	84,200		866,350
Mitsubishi Tanabe Pharma Corp.	30,300		460,778
Mitsubishi UFJ Financial Group, Inc.	1,599,200		9,322,081
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	70,186		412,694
Mitsubishi UFJ Lease & Finance Co. Ltd.	76,700		404,942
Mitsui & Co. Ltd.	223,500		3,374,640
Mitsui Chemicals, Inc.	111,000		321,533
Mitsui Fudosan Co. Ltd.	122,000		3,924,306
Mitsui OSK Lines Ltd.	138,000		435,991
Mizuho Financial Group, Inc.	2,973,060		5,417,856
Mizuho Financial Group, Inc. ADR	21,056		77,907
MS&AD Insurance Group Holdings, Inc.	67,190		1,452,431
Murata Manufacturing Co. Ltd.	26,600		2,988,789
Nabtesco Corp.	14,300		346,067
Nagoya Railroad Co. Ltd.	112,000		478,903
NEC Corp.	341,000		1,205,905
New Hampshire Foods Ltd.	23,000		530,373
Common Stocks - continued
	Shares		Value
Japan - continued
Nexon Co. Ltd.	14,700		$ 129,540
NGK Insulators Ltd.	34,000		732,293
NGK Spark Plug Co. Ltd.	23,000		599,852
NHK Spring Co. Ltd.	23,500		215,080
Nidec Corp.	27,400		1,810,390
Nidec Corp. sponsored ADR	4,212		70,214
Nikon Corp. (d)	46,200		633,017
Nintendo Co. Ltd.	14,000		1,508,892
Nippon Building Fund, Inc.	186		1,042,464
Nippon Electric Glass Co. Ltd.	55,000		255,753
Nippon Express Co. Ltd.	111,000		488,285
Nippon Paint Holdings Co. Ltd.	23,000		522,269
Nippon Prologis REIT, Inc.	190		440,892
Nippon Steel & Sumitomo Metal Corp.	998,170		2,634,017
Nippon Telegraph & Telephone Corp.	45,700		2,843,402
Nippon Telegraph & Telephone Corp. sponsored ADR	6,848		215,575
Nippon Yusen KK	222,000		575,548
Nissan Motor Co. Ltd.	325,700		2,970,940
Nisshin Seifun Group, Inc.	25,245		255,278
Nissin Food Holdings Co. Ltd.	7,700		405,828
Nitori Holdings Co. Ltd.	9,300		589,393
Nitto Denko Corp.	20,200		1,092,498
NKSJ Holdings, Inc.	42,900		1,080,248
NOK Corp.	12,600		319,214
Nomura Holdings, Inc.	442,100		2,761,528
Nomura Holdings, Inc. sponsored ADR	34,130		216,726
Nomura Real Estate Holdings, Inc.	15,400		272,178
Nomura Research Institute Ltd.	14,600		481,564
NSK Ltd.	62,000		812,081
NTT Data Corp.	17,000		664,554
NTT DOCOMO, Inc.	178,900		3,017,307
NTT DOCOMO, Inc. sponsored ADR	21,056		355,215
NTT Urban Development Co.	12,900		146,003
Obayashi Corp.	82,000		562,738
Odakyu Electric Railway Co. Ltd.	79,000		741,438
Oji Holdings Corp.	110,000		397,710
Olympus Corp. (a)	30,900		1,109,467
OMRON Corp.	26,200		1,240,168
Ono Pharmaceutical Co. Ltd.	10,700		1,080,106
Oracle Corp. Japan	4,900		189,695
Oriental Land Co. Ltd.	6,500		1,389,954
ORIX Corp.	159,600		2,215,287
Common Stocks - continued
	Shares		Value
Japan - continued
ORIX Corp. sponsored ADR	2,807		$ 199,915
Osaka Gas Co. Ltd.	240,000		957,319
Otsuka Corp.	6,600		245,409
Otsuka Holdings Co. Ltd.	51,600		1,810,028
Panasonic Corp.	289,400		3,481,845
Park24 Co. Ltd.	10,800		163,423
Rakuten, Inc.	104,500		1,178,391
Recruit Holdings Co. Ltd. (a)	18,000		615,214
Resona Holdings, Inc.	288,500		1,650,159
Ricoh Co. Ltd.	94,900		980,066
Rinnai Corp.	4,600		408,604
ROHM Co. Ltd.	12,400		754,798
Sankyo Co. Ltd. (Gunma)	6,500		236,542
Sanrio Co. Ltd. (d)	5,800		167,692
Santen Pharmaceutical Co. Ltd.	9,600		572,991
SBI Holdings, Inc. Japan	27,880		321,500
Secom Co. Ltd.	26,800		1,651,552
Sega Sammy Holdings, Inc.	23,300		370,133
Seibu Holdings, Inc. (d)	16,400		315,322
Seiko Epson Corp.	17,500		812,083
Sekisui Chemical Co. Ltd.	55,000		685,486
Sekisui House Ltd.	72,000		895,312
Seven & i Holdings Co., Ltd.	98,500		3,847,029
Seven Bank Ltd.	70,600		294,854
Sharp Corp. (a)(d)	209,000		526,358
Shikoku Electric Power Co., Inc. (a)	24,600		337,580
Shimadzu Corp.	32,000		278,442
Shimamura Co. Ltd.	3,100		272,655
SHIMANO, Inc.	10,300		1,365,835
SHIMIZU Corp.	78,000		575,618
Shin-Etsu Chemical Co., Ltd.	53,800		3,453,349
Shinsei Bank Ltd.	220,000		494,422
Shionogi & Co. Ltd.	39,600		1,036,006
Shiseido Co. Ltd.	48,100		798,179
Shizuoka Bank Ltd.	70,000		723,294
Showa Shell Sekiyu K.K.	26,800		229,952
SMC Corp.	7,200		2,042,161
SoftBank Corp.	125,900		9,165,447
Sony Corp.	124,200		2,452,120
Sony Corp. sponsored ADR	12,648		250,683
Sony Financial Holdings, Inc.	23,500		375,171
Stanley Electric Co. Ltd.	19,300		392,381
Common Stocks - continued
	Shares		Value
Japan - continued
Sumitomo Chemical Co. Ltd.	192,000		$ 658,644
Sumitomo Corp.	148,100		1,580,185
Sumitomo Electric Industries Ltd.	100,600		1,375,061
Sumitomo Heavy Industries Ltd.	76,000		416,665
Sumitomo Metal Mining Co. Ltd.	70,000		971,077
Sumitomo Mitsui Financial Group, Inc.	156,700		6,390,682
Sumitomo Mitsui Financial Group, Inc. ADR	50,186		420,057
Sumitomo Mitsui Trust Holdings, Inc.	435,250		1,777,006
Sumitomo Realty & Development Co. Ltd.	46,000		1,724,492
Sumitomo Rubber Industries Ltd.	20,600		284,713
Suntory Beverage & Food Ltd.	18,300		652,843
Suzuken Co. Ltd.	8,600		230,573
Suzuki Motor Corp.	48,000		1,608,889
Sysmex Corp.	18,600		794,037
T&D Holdings, Inc.	76,000		978,993
Taiheiyo Cement Corp.	155,000		568,688
Taisei Corp.	137,000		761,850
Taisho Pharmaceutical Holdings Co. Ltd.	3,800		266,717
Taiyo Nippon Sanso Corp. (d)	27,000		243,083
Takashimaya Co. Ltd.	32,000		272,595
Takeda Pharmaceutical Co. Ltd.	103,500		4,486,554
TDK Corp.	15,900		902,518
Teijin Ltd.	127,000		310,490
Terumo Corp.	39,200		979,945
The Chugoku Bank Ltd.	23,500		347,343
The Hachijuni Bank Ltd.	55,000		336,755
The Suruga Bank Ltd.	23,000		480,847
THK Co. Ltd.	15,600		392,385
Tobu Railway Co. Ltd.	133,000		672,799
Toho Co. Ltd.	15,800		362,414
Toho Gas Co. Ltd.	56,000		302,872
Tohoku Electric Power Co., Inc.	60,100		751,143
Tokio Marine Holdings, Inc.	90,700		2,908,579
Tokyo Electric Power Co., Inc. (a)	193,700		698,427
Tokyo Electron Ltd.	22,600		1,448,992
Tokyo Gas Co. Ltd.	313,000		1,804,231
Tokyo Tatemono Co. Ltd.	55,000		480,114
Tokyu Corp.	149,000		983,825
Tokyu Fudosan Holdings Corp.	60,300		428,571
TonenGeneral Sekiyu K.K.	39,000		340,392
Toppan Printing Co. Ltd.	78,000		530,730
Toray Industries, Inc.	196,000		1,315,833
Common Stocks - continued
	Shares		Value
Japan - continued
Toshiba Corp.	529,000		$ 2,336,127
Toto Ltd.	37,000		417,504
Toyo Seikan Group Holdings Ltd.	23,000		278,914
Toyo Suisan Kaisha Ltd.	12,000		414,435
Toyoda Gosei Co. Ltd.	7,700		147,931
Toyota Industries Corp.	21,200		1,009,465
Toyota Motor Corp.	342,800		20,628,749
Toyota Motor Corp. sponsored ADR	9,255		1,123,094
Toyota Tsusho Corp.	27,600		695,937
Trend Micro, Inc.	14,100		475,108
Unicharm Corp.	49,000		1,139,419
United Urban Investment Corp.	336		530,277
USS Co. Ltd.	29,100		457,976
West Japan Railway Co.	21,000		1,000,973
Yahoo! Japan Corp.	188,100		677,651
Yakult Honsha Co. Ltd.	11,400		631,324
Yamada Denki Co. Ltd. (d)	119,300		382,431
Yamaguchi Financial Group, Inc.	24,000		229,222
Yamaha Corp.	21,400		293,329
Yamaha Motor Co. Ltd.	35,100		664,013
Yamato Holdings Co. Ltd.	47,400		1,013,516
Yamato Kogyo Co. Ltd.	4,700		152,256
Yamazaki Baking Co. Ltd.	16,000		197,802
Yaskawa Electric Corp.	30,400		394,051
Yokogawa Electric Corp.	27,600		383,997
Yokohama Rubber Co. Ltd.	25,000		226,939
TOTAL JAPAN			358,426,974
Korea (South) - 2.9%
AMOREPACIFIC Corp.	415		888,366
AMOREPACIFIC Group, Inc.	354		389,766
BS Financial Group, Inc.	25,367		393,096
Celltrion, Inc. (a)	8,612		336,242
Cheil Worldwide, Inc. (a)	9,880		153,564
CJ CheilJedang Corp.	1,150		418,495
CJ Corp.	1,932		312,876
Coway Co. Ltd.	7,031		533,978
Daelim Industrial Co.	3,362		221,850
Daewoo Engineering & Construction Co. Ltd. (a)	13,260		80,835
Daewoo International Corp.	5,142		161,997
Daewoo Securities Co. Ltd. (a)	23,723		247,288
Daewoo Shipbuilding & Marine Engineering Co. Ltd.	13,629		232,130
Common Stocks - continued
	Shares		Value
Korea (South) - continued
DGB Financial Group Co. Ltd.	18,117		$ 257,141
Dongbu Insurance Co. Ltd.	5,734		319,669
Doosan Co. Ltd.	981		101,346
Doosan Heavy Industries & Construction Co. Ltd.	7,820		170,673
Doosan Infracore Co. Ltd. (a)	19,783		198,853
E-Mart Co. Ltd.	2,716		500,508
GS Engineering & Construction Corp. (a)	6,403		167,458
GS Holdings Corp.	7,177		276,875
Halla Visteon Climate Control Corp.	5,353		237,896
Hana Financial Group, Inc.	38,330		1,321,730
Hanjin Shipping Co. Ltd. (a)	12		56
Hanjin Shipping Holdings Co. Ltd. (a)	3		28
Hankook Tire Co. Ltd.	9,946		509,128
Hanwha Chemical Corp.	14,212		160,712
Hanwha Corp.	5,400		137,708
Hanwha Life Insurance Co. Ltd.	30,070		229,770
Hite Jinro Co. Ltd.	3,720		91,577
Hotel Shilla Co.	4,484		419,418
Hyosung Corp.	2,883		170,386
Hyundai Department Store Co. Ltd.	1,836		231,541
Hyundai Engineering & Construction Co. Ltd.	8,974		405,500
Hyundai Fire & Marine Insurance Co. Ltd.	7,460		196,143
Hyundai Glovis Co. Ltd.	1,707		422,601
Hyundai Heavy Industries Co. Ltd.	5,697		525,985
Hyundai Industrial Development & Construction Co.	7,624		286,314
Hyundai Merchant Marine Co. Ltd. (a)	8,518		91,170
Hyundai Mipo Dockyard Co. Ltd.	1,290		91,127
Hyundai Mobis	8,936		2,079,213
Hyundai Motor Co.	19,637		3,106,990
Hyundai Steel Co.	8,817		558,835
Hyundai Wia Corp.	2,101		360,776
Industrial Bank of Korea	33,439		487,061
Kangwon Land, Inc.	14,937		486,572
KB Financial Group, Inc.	49,641		1,935,565
KB Financial Group, Inc. ADR	1,110		42,957
KCC Corp.	584		321,774
Kia Motors Corp.	34,755		1,685,275
Korea Aerospace Industries Ltd.	6,046		232,399
Korea Electric Power Corp.	33,421		1,459,239
Korea Electric Power Corp. sponsored ADR	520		11,367
Korea Gas Corp. (a)	3,194		148,932
Korea Investment Holdings Co. Ltd.	6,030		303,620
Common Stocks - continued
	Shares		Value
Korea (South) - continued
Korea Zinc Co. Ltd.	1,036		$ 388,098
Korean Air Lines Co. Ltd. (a)	3,063		108,187
KT Corp.	7,340		224,939
KT Corp. sponsored ADR	3,220		49,363
KT&G Corp.	14,427		1,275,603
Kumho Petro Chemical Co. Ltd.	1,495		107,556
LG Chemical Ltd.	5,779		1,075,718
LG Corp.	12,211		722,810
LG Display Co. Ltd. (a)	31,008		907,990
LG Electronics, Inc.	13,683		831,592
LG Household & Health Care Ltd.	1,218		706,238
LG Innotek Co. Ltd. (a)	1,766		138,888
LG Telecom Ltd.	28,810		294,952
Lotte Chemical Corp.	2,232		301,216
Lotte Confectionery Co. Ltd.	79		141,318
Lotte Shopping Co. Ltd.	1,431		394,894
LS Cable Ltd.	2,131		118,803
LS Industrial Systems Ltd.	1,828		107,355
Mirae Asset Securities Co. Ltd.	2,866		122,568
NAVER Corp.	3,677		2,580,363
NCSOFT Corp.	2,178		297,983
Oci Co. Ltd. (a)	1,893		162,089
Orion Corp.	478		367,027
Paradise Co. Ltd.	5,807		177,543
POSCO	8,458		2,429,990
POSCO sponsored ADR	548		39,215
S-Oil Corp.	5,621		212,662
S1 Corp.	2,399		166,119
Samsung C&T Corp.	16,541		1,113,053
Samsung Card Co. Ltd.	4,161		178,144
Samsung Electro-Mechanics Co. Ltd.	7,724		350,096
Samsung Electronics Co. Ltd.	14,068		16,288,030
Samsung Electronics Co. Ltd.:
GDR	862		495,650
GDR (e)	264		120,701
Samsung Engineering Co. Ltd. (a)	3,265		187,189
Samsung Fire & Marine Insurance Co. Ltd.	4,448		1,190,196
Samsung Heavy Industries Co. Ltd.	20,830		505,025
Samsung Life Insurance Co. Ltd.	7,647		829,149
Samsung SDI Co. Ltd.	7,372		864,513
Samsung Securities Co. Ltd.	8,424		374,768
Samsung Techwin Co. Ltd.	4,234		129,253
Common Stocks - continued
	Shares		Value
Korea (South) - continued
Shinhan Financial Group Co. Ltd.	56,011		$ 2,622,148
Shinsegae Co. Ltd.	798		147,428
SK C&C Co. Ltd.	2,852		643,690
SK Energy Co. Ltd.	7,592		618,273
SK Holdings Co. Ltd.	3,442		534,987
SK Hynix, Inc. (a)	74,614		3,295,128
SK Networks Co. Ltd. (a)	13,900		141,659
SK Telecom Co. Ltd.	866		215,864
SK Telecom Co. Ltd. sponsored ADR (d)	3,790		105,324
Woori Finance Holdings Co. Ltd. (a)	40,547		449,078
Woori Investment & Securities Co. Ltd.	13,517		147,191
Yuhan Corp.	894		146,858
TOTAL KOREA (SOUTH)			71,256,845
Luxembourg - 0.3%
Altice SA	11,447		712,794
ArcelorMittal SA:
(Netherlands)	117,426		1,542,530
Class A unit (d)	14,790		194,636
Millicom International Cellular SA (depository receipt)	8,962		730,636
RTL Group SA	4,850		452,551
SES SA (France) (depositary receipt)	39,123		1,350,694
Subsea 7 SA	38,248		411,970
Tenaris SA	62,762		1,241,095
TOTAL LUXEMBOURG			6,636,906
Malaysia - 0.8%
AirAsia Bhd	143,300		108,887
Alliance Financial Group Bhd	130,700		190,419
AMMB Holdings Bhd	242,600		500,000
Astro Malaysia Holdings Bhd	221,300		222,018
Axiata Group Bhd	326,100		698,794
Berjaya Sports Toto Bhd	66,270		72,712
British American Tobacco (Malaysia) Bhd	17,600		371,990
Bumi Armada Bhd	239,150		114,160
Bumiputra-Commerce Holdings Bhd	659,536		1,301,853
Dialog Group Bhd	418,722		206,465
DiGi.com Bhd	443,900		835,296
Felda Global Ventures Holdings Bhd	144,900		161,145
Gamuda Bhd	234,975		366,005
Genting Bhd	275,200		815,566
Genting Malaysia Bhd	392,500		513,099
Genting Plantations Bhd	24,200		77,772
Common Stocks - continued
	Shares		Value
Malaysia - continued
Hong Leong Bank Bhd	74,200		$ 329,754
Hong Leong Credit Bhd	25,100		138,059
IHH Healthcare Bhd	326,500		491,158
IJM Corp. Bhd	157,500		331,017
IOI Corp. Bhd	378,000		561,761
IOI Properties Group Sdn Bhd	172,966		144,603
Kuala Lumpur Kepong Bhd	65,000		454,272
Lafarge Malaysia Bhd	52,700		167,807
Malayan Banking Bhd	594,952		1,754,517
Malaysia Airports Holdings Bhd	81,463		178,770
Maxis Bhd	264,800		542,474
MISC Bhd	148,900		310,532
MMC Corp. Bhd	76,800		61,635
Petronas Chemicals Group Bhd	358,800		670,249
Petronas Dagangan Bhd	28,900		179,405
Petronas Gas Bhd	89,000		610,049
PPB Group Bhd	58,100		279,324
Public Bank Bhd	356,200		2,007,382
RHB Capital Bhd	73,450		196,401
SapuraKencana Petroleum Bhd	456,900		473,470
Sime Darby Bhd	400,574		1,178,390
Telekom Malaysia Bhd	152,339		333,418
Tenaga Nasional Bhd	367,425		1,492,193
UEM Land Holdings Bhd	197,700		112,980
UMW Holdings Bhd	72,500		257,641
YTL Corp. Bhd	572,900		289,080
YTL Power International Bhd	294,315		142,228
TOTAL MALAYSIA			20,244,750
Malta - 0.0%
Brait SA	44,307		332,933
Mauritius - 0.0%
Golden Agri-Resources Ltd.	958,000		388,231
Mexico - 1.1%
Alfa SA de CV Series A	370,000		1,178,999
America Movil S.A.B. de CV Series L	4,448,546		5,427,614
CEMEX S.A.B. de CV unit	1,599,001		1,969,919
Coca-Cola FEMSA S.A.B. de CV Series L	54,600		576,034
Compartamos S.A.B. de CV	146,900		327,154
Controladora Commercial Mexicana S.A.B. de CV unit	57,300		224,498
El Puerto de Liverpool S.A.B. de CV Class C	26,200		307,386
Common Stocks - continued
	Shares		Value
Mexico - continued
Embotelladoras Arca S.A.B. de CV	50,962		$ 328,185
Fibra Uno Administracion SA de CV	295,000		1,025,230
Fomento Economico Mexicano S.A.B. de CV unit	253,600		2,439,155
Genomma Lab Internacional SA de CV (a)	110,000		277,650
Gruma S.A.B. de CV Series B	23,800		262,085
Grupo Aeroportuario del Pacifico SA de CV Series B	41,200		280,311
Grupo Aeroportuario del Sureste SA de CV Series B	27,500		367,626
Grupo Bimbo S.A.B. de CV Series A	216,500		633,282
Grupo Carso SA de CV Series A1	76,500		437,086
Grupo Comercial Chedraui S.A.B. de CV (d)	38,800		136,486
Grupo Financiero Banorte S.A.B. de CV Series O	325,200		2,086,255
Grupo Financiero Inbursa S.A.B. de CV Series O	310,100		931,250
Grupo Financiero Santander Mexico S.A.B. de CV	234,800		625,610
Grupo Lala S.A.B. de CV	83,400		191,372
Grupo Mexico SA de CV Series B	504,423		1,733,196
Grupo Televisa SA de CV	336,300		2,430,425
Industrias Penoles SA de CV	17,800		399,481
Kimberly-Clark de Mexico SA de CV Series A	205,100		474,740
Mexichem S.A.B. de CV	122,384		500,669
Minera Frisco S.A.B. de CV (a)	82,000		145,900
OHL Mexico S.A.B. de CV (a)	95,600		269,061
Promotora y Operadora de Infraestructura S.A.B. de CV (a)	30,900		424,483
Wal-Mart de Mexico SA de CV Series V	697,200		1,611,721
TOTAL MEXICO			28,022,863
Netherlands - 2.1%
AEGON NV	216,140		1,761,638
AEGON NV (NY Reg.)	22,982		187,763
Airbus Group NV	76,974		4,591,494
Akzo Nobel NV	31,425		2,087,546
ASML Holding NV (Netherlands)	46,812		4,667,735
CNH Industrial NV (d)	7,019		57,205
CNH Industrial NV	116,593		949,705
Corio NV	9,403		457,313
Delta Lloyd NV	25,668		584,614
Fiat Chrysler Automobiles NV (a)	114,360		1,276,178
Fugro NV (Certificaten Van Aandelen)	10,139		140,017
Gemalto NV	10,566		807,820
Heineken Holding NV	13,063		846,160
Heineken NV (Bearer)	30,093		2,247,201
ING Groep NV:
(Certificaten Van Aandelen) (a)	469,896		6,729,081
Common Stocks - continued
	Shares		Value
Netherlands - continued
ING Groep NV: - continued
sponsored ADR (a)(d)	34,888		$ 499,596
Koninklijke Ahold NV	121,105		2,024,515
Koninklijke Boskalis Westminster NV	11,636		619,939
Koninklijke KPN NV	411,857		1,355,723
Koninklijke Philips Electronics NV	119,627		3,344,518
Koninklijke Philips Electronics NV (depositary receipt) (NY Reg.)	7,649		213,713
OCI NV (a)	11,791		410,622
QIAGEN NV (a)	30,662		720,259
Randstad Holding NV	16,722		736,993
Reed Elsevier NV	81,284		1,870,678
Reed Elsevier NV sponsored ADR	4,913		226,047
Royal DSM NV	23,182		1,451,509
STMicroelectronics NV	81,106		541,767
TNT Express NV (d)	55,840		324,058
Unilever NV:
(Certificaten Van Aandelen) (Bearer)	201,721		7,818,395
(NY Reg.)	11,558		447,641
Vopak NV	8,863		443,822
Wolters Kluwer NV	39,523		1,054,456
Ziggo NV (a)	18,483		902,969
TOTAL NETHERLANDS			52,398,690
New Zealand - 0.1%
Auckland International Airport Ltd.	129,922		391,931
Contact Energy Ltd.	46,799		226,175
Fletcher Building Ltd.	87,340		585,501
Ryman Healthcare Group Ltd.	50,322		297,725
Spark New Zealand Ltd.	231,613		569,611
Xero Ltd. (a)	7,500		92,663
TOTAL NEW ZEALAND			2,163,606
Norway - 0.5%
Aker Solutions ASA (a)	19,989		129,507
DNB ASA	127,965		2,350,627
Gjensidige Forsikring ASA (d)	26,678		484,519
Norsk Hydro ASA	179,010		1,001,614
Orkla ASA	108,384		828,352
Statoil ASA	136,168		3,116,264
Statoil ASA sponsored ADR	10,127		232,415
Common Stocks - continued
	Shares		Value
Norway - continued
Telenor ASA	98,493		$ 2,213,736
Yara International ASA	23,441		1,076,313
TOTAL NORWAY			11,433,347
Peru - 0.0%
Compania de Minas Buenaventura SA sponsored ADR	23,429		215,547
Philippines - 0.3%
Aboitiz Equity Ventures, Inc.	234,500		271,291
Aboitiz Power Corp.	218,700		199,439
Alliance Global Group, Inc.	285,600		160,638
Ayala Corp.	24,810		380,562
Ayala Land, Inc.	951,000		709,187
Bank of the Philippine Islands (BPI)	89,898		190,112
BDO Unibank, Inc.	198,473		432,355
DMCI Holdings, Inc.	489,000		176,305
Globe Telecom, Inc.	3,630		136,024
International Container Terminal Services, Inc.	95,890		247,274
JG Summit Holdings, Inc.	304,300		431,569
Jollibee Food Corp.	54,820		238,926
Megaworld Corp.	1,300,000		143,376
Metro Pacific Investments Corp.	1,324,700		149,612
Metropolitan Bank & Trust Co.	41,128		75,463
Philippine Long Distance Telephone Co.	12,840		896,017
PNOC Energy Development Corp.	1,235,200		211,474
SM Investments Corp.	23,577		410,844
SM Prime Holdings, Inc.	890,375		346,113
Universal Robina Corp.	115,550		477,674
TOTAL PHILIPPINES			6,284,255
Poland - 0.4%
Alior Bank SA (a)	6,028		133,824
Bank Handlowy w Warszawie SA	4,625		156,212
Bank Millennium SA	47,139		116,823
Bank Polska Kasa Opieki SA	16,940		885,387
Bank Zachodni WBK SA	3,883		439,665
BRE Bank SA	1,992		294,783
Cyfrowy Polsat SA	26,029		199,082
ENEA SA	32,068		152,283
Energa SA	25,000		185,721
Eurocash SA	9,104		89,681
Getin Noble Bank SA (a)	130,000		100,318
Grupa Lotos SA (a)	7,981		61,682
Common Stocks - continued
	Shares		Value
Poland - continued
Jastrzebska Spolka Weglowa SA (a)	8,552		$ 73,481
KGHM Polska Miedz SA (Bearer)	18,881		727,938
LPP SA	124		369,832
Polish Oil & Gas Co. SA	229,410		342,484
Polska Grupa Energetyczna SA	110,865		727,189
Polski Koncern Naftowy Orlen SA	42,936		534,327
Powszechna Kasa Oszczednosci Bank SA	115,652		1,285,480
Powszechny Zaklad Ubezpieczen SA	7,207		1,080,205
Synthos SA	58,228		72,238
Tauron Polska Energia SA	133,804		208,889
Telekomunikacja Polska SA	93,000		278,782
Zaklady Azotowe w Tarnowie-Moscicach SA	5,897		109,791
TOTAL POLAND			8,626,097
Portugal - 0.1%
Banco Comercial Portugues SA (Reg.) (a)	4,522,398		510,052
Banco Espirito Santo SA (Reg.) (a)	319,729		4
Energias de Portugal SA	298,531		1,283,551
Galp Energia SGPS SA Class B	51,796		750,663
Jeronimo Martins SGPS SA	31,677		277,039
TOTAL PORTUGAL			2,821,309
Qatar - 0.1%
Barwa Real Estate Co. (a)	14,342		169,156
Commercial Bank of Qatar (a)	4,000		81,174
Doha Bank (a)	4,000		63,709
Industries Qatar QSC (a)	9,991		516,896
Masraf al Rayan (a)	49,148		688,319
Qatar Electricity & Water Co.	3,966		198,433
Qatar Islamic Bank (a)	8,144		250,478
Qatar National Bank SAQ (a)	11,794		694,060
Qatar Telecom (Qtel) Q.S.C. (a)	10,987		372,615
Vodafone Qatar QSC (a)	40,082		227,842
TOTAL QATAR			3,262,682
Russia - 0.9%
Alrosa Co. Ltd. (a)	240,000		214,833
Federal Grid Co. of Unified Energy System (a)	23,194,927		28,911
Gazprom OAO (a)	40,634		133,682
Gazprom OAO sponsored ADR (Reg. S)	755,471		5,007,262
LUKOIL Oil Co.	665		32,778
LUKOIL Oil Co. sponsored ADR (United Kingdom)	66,258		3,253,268
Magnit OJSC GDR (Reg. S)	33,975		2,276,325
Common Stocks - continued
	Shares		Value
Russia - continued
Megafon OJSC GDR	12,297		$ 287,750
Mobile TeleSystems OJSC sponsored ADR	67,742		968,711
Moscow Exchange MICEX-RTS OAO	182,000		245,430
Norilsk Nickel OJSC (a)	279		52,109
Norilsk Nickel OJSC ADR	68,711		1,278,712
NOVATEK OAO GDR (Reg. S)	11,699		1,256,473
Rosneft Oil Co. OJSC (a)	1,806		10,073
Rosneft Oil Co. OJSC GDR (Reg. S)	152,909		851,703
Rostelecom sponsored ADR	18,541		274,963
RusHydro JSC (a)	144,700		2,331
RusHydro JSC sponsored ADR	136,503		227,414
Sberbank (Savings Bank of the Russian Federation) (a)	280,115		496,467
Sberbank (Savings Bank of the Russian Federation) sponsored ADR	294,028		2,231,673
Severstal (a)	229		2,434
Severstal GDR (Reg. S)	24,951		263,732
Sistema JSFC sponsored GDR	20,547		165,917
Surgutneftegas:
(Reg.) (a)	10,100		6,762
sponsored ADR	139,664		918,989
Tatneft OAO sponsored ADR	30,668		1,092,701
Uralkali OJSC (a)	1,055		3,777
Uralkali OJSC GDR (Reg. S)	33,334		595,679
VTB Bank OJSC	2,224,000		2,065
VTB Bank OJSC sponsored GDR (Reg. S)	331,542		626,283
TOTAL RUSSIA			22,809,207
Singapore - 1.0%
Ascendas Real Estate Investment Trust	268,000		465,507
CapitaCommercial Trust (REIT)	265,000		344,573
CapitaLand Ltd.	333,000		822,149
CapitaMall Trust	317,000		486,212
City Developments Ltd.	49,000		360,637
ComfortDelgro Corp. Ltd.	266,000		546,897
DBS Group Holdings Ltd.	223,834		3,219,946
Global Logistic Properties Ltd.	388,000		831,470
Hutchison Port Holdings Trust	761,000		513,835
Jardine Cycle & Carriage Ltd.	14,000		435,182
Keppel Corp. Ltd.	191,400		1,403,578
Keppel Land Ltd.	84,000		218,578
Olam International Ltd.	193,363		320,913
Oversea-Chinese Banking Corp. Ltd.	376,903		2,903,326
Common Stocks - continued
	Shares		Value
Singapore - continued
SembCorp Industries Ltd.	128,000		$ 484,235
SembCorp Marine Ltd.	98,000		277,637
Singapore Airlines Ltd.	71,000		547,171
Singapore Exchange Ltd.	115,000		626,718
Singapore Press Holdings Ltd.	209,000		696,625
Singapore Technologies Engineering Ltd.	202,000		589,749
Singapore Telecommunications Ltd.	1,041,000		3,063,952
StarHub Ltd.	69,000		221,787
United Overseas Bank Ltd.	165,872		2,971,711
UOL Group Ltd.	57,800		290,315
Wilmar International Ltd.	241,000		600,738
Yangzijiang Shipbuilding Holdings Ltd.	218,000		191,898
TOTAL SINGAPORE			23,435,339
South Africa - 1.6%
African Bank Investments Ltd. (a)	149,482		0
African Rainbow Minerals Ltd.	12,455		153,461
Anglo American Platinum Ltd. (a)	8,288		261,465
AngloGold Ashanti Ltd. (a)	53,896		450,405
Aspen Pharmacare Holdings Ltd.	41,344		1,474,774
Assore Ltd.	4,439		82,379
Barclays Africa Group Ltd.	43,636		689,013
Barloworld Ltd.	26,057		226,250
Bidvest Group Ltd.	42,551		1,170,353
Coronation Fund Managers Ltd.	30,890		267,458
Discovery Holdings Ltd.	39,952		363,416
Exxaro Resources Ltd.	19,655		204,930
FirstRand Ltd.	407,587		1,744,201
Foschini Ltd.	27,000		305,109
Gold Fields Ltd.	101,635		329,566
Growthpoint Properties Ltd.	275,015		666,983
Harmony Gold Mining Co. Ltd. (a)	47,844		77,287
Impala Platinum Holdings Ltd. (a)	67,694		492,772
Imperial Holdings Ltd.	24,685		425,115
Investec Ltd.	31,076		283,719
Kumba Iron Ore Ltd.	9,322		232,802
Liberty Holdings Ltd.	13,850		160,277
Life Healthcare Group Holdings Ltd.	122,607		463,538
Massmart Holdings Ltd.	12,443		134,394
Mediclinic International Ltd.	47,333		422,702
MMI Holdings Ltd.	128,462		328,325
Mr Price Group Ltd.	31,330		648,060
Common Stocks - continued
	Shares		Value
South Africa - continued
MTN Group Ltd.	221,147		$ 4,892,211
Nampak Ltd.	81,322		331,562
Naspers Ltd. Class N	51,915		6,460,763
Nedbank Group Ltd.	27,194		592,315
Netcare Ltd.	130,281		393,923
Northam Platinum Ltd. (a)	39,419		121,405
Pick 'n Pay Stores Ltd.	24,940		120,588
Pretoria Portland Cement Co. Ltd.	64,687		173,597
Rand Merchant Insurance Holdings Ltd.	92,626		330,203
Redefine Properties Ltd.	427,147		386,881
Remgro Ltd.	62,247		1,427,707
RMB Holdings Ltd.	94,672		525,386
Sanlam Ltd.	243,118		1,535,227
Sappi Ltd. (a)	66,663		263,334
Sasol Ltd.	72,970		3,643,774
Shoprite Holdings Ltd.	58,907		853,343
Spar Group Ltd.	24,176		282,732
Standard Bank Group Ltd.	160,329		2,016,877
Steinhoff International Holdings Ltd.	277,780		1,420,412
Tiger Brands Ltd.	21,169		636,447
Transportation Hex Group Ltd.	136		47
Truworths International Ltd.	58,831		402,705
Vodacom Group Ltd.	48,951		593,949
Woolworths Holdings Ltd.	120,261		854,712
TOTAL SOUTH AFRICA			40,318,854
Spain - 2.4%
Abertis Infraestructuras SA (d)	52,725		1,097,131
ACS Actividades de Construccion y Servicios SA	23,511		870,626
Amadeus IT Holding SA Class A	49,529		1,818,571
Banco Bilbao Vizcaya Argentaria SA	731,870		8,185,884
Banco Bilbao Vizcaya Argentaria SA sponsored ADR (d)	45,831		511,474
Banco de Sabadell SA	446,193		1,286,038
Banco Popular Espanol SA	233,398		1,335,476
Banco Santander SA:
rights 11/3/14 (a)	1,402,851		267,213
(Spain)	1,455,792		12,862,694
(Spain) sponsored ADR (d)	132,290		1,160,183
Bankia SA (a)	596,433		1,066,568
Criteria CaixaCorp SA	230,306		1,255,733
Distribuidora Internacional de Alimentacion SA	80,826		512,918
Enagas SA	26,825		899,221
Common Stocks - continued
	Shares		Value
Spain - continued
Ferrovial SA	54,506		$ 1,111,992
Gas Natural SDG SA	46,250		1,333,618
Grifols SA	19,447		793,122
Iberdrola SA	665,863		4,706,998
Inditex SA	142,762		4,010,093
International Consolidated Airlines Group SA (a)	120,906		789,536
International Consolidated Airlines Group SA CDI (a)	12,980		84,967
MAPFRE SA (Reg.)	124,210		425,090
Red Electrica Corporacion SA	14,092		1,229,800
Repsol YPF SA	134,321		2,998,698
Telefonica SA	506,614		7,623,365
Telefonica SA sponsored ADR (d)	30,393		455,287
Zardoya Otis SA	24,433		284,443
TOTAL SPAIN			58,976,739
Sweden - 2.0%
Alfa Laval AB	41,044		843,764
ASSA ABLOY AB (B Shares)	43,655		2,312,178
Atlas Copco AB:
(A Shares)	86,897		2,507,770
(B Shares)	51,937		1,371,548
Boliden AB	36,462		600,939
Electrolux AB (B Shares)	32,406		919,409
Elekta AB (B Shares) (d)	48,355		495,066
Getinge AB (B Shares)	25,975		603,280
H&M Hennes & Mauritz AB (B Shares)	124,273		4,942,882
Hexagon AB (B Shares)	33,371		1,123,040
Husqvarna AB (B Shares)	53,833		400,240
Industrivarden AB (C Shares)	19,022		332,569
Investment AB Kinnevik (B Shares)	30,912		979,167
Investor AB (B Shares)	59,910		2,143,540
Lundin Petroleum AB (a)	30,161		427,653
Nordea Bank AB	397,539		5,098,345
Sandvik AB	135,906		1,488,972
Securitas AB (B Shares)	37,709		416,200
Skandinaviska Enskilda Banken AB (A Shares)	198,839		2,547,371
Skanska AB (B Shares)	48,680		990,193
SKF AB (B Shares)	51,923		1,039,283
Svenska Cellulosa AB (SCA) (B Shares)	77,111		1,724,102
Svenska Handelsbanken AB (A Shares)	65,110		3,104,654
Swedbank AB (A Shares)	118,066		3,122,674
Swedish Match Co. AB	27,113		879,759
Common Stocks - continued
	Shares		Value
Sweden - continued
Tele2 AB (B Shares)	40,537		$ 514,388
Telefonaktiebolaget LM Ericsson:
(B Shares)	375,950		4,442,376
(B Shares) sponsored ADR	23,312		276,014
TeliaSonera AB	311,826		2,155,795
Volvo AB (B Shares)	200,488		2,306,488
TOTAL SWEDEN			50,109,659
Switzerland - 6.3%
ABB Ltd.:
(Reg.)	270,093		5,925,483
sponsored ADR (d)	17,973		394,328
Actelion Ltd.	13,193		1,568,653
Adecco SA (Reg.)	22,363		1,511,940
Aryzta AG	11,485		977,028
Baloise Holdings AG	6,247		784,974
Barry Callebaut AG	292		305,611
Coca-Cola HBC AG	25,600		556,542
Compagnie Financiere Richemont SA Series A	68,337		5,749,499
Credit Suisse Group AG	185,866		4,952,177
Credit Suisse Group AG sponsored ADR (d)	13,116		349,410
Ems-Chemie Holding AG	1,087		390,615
Geberit AG (Reg.)	4,859		1,655,439
Givaudan SA	1,212		2,019,265
Holcim Ltd. (Reg.)	30,144		2,135,128
Julius Baer Group Ltd.	29,398		1,285,733
Kuehne & Nagel International AG	7,154		930,916
Lindt & Spruengli AG	14		838,487
Lindt & Spruengli AG (participation certificate)	113		566,791
Lonza Group AG	7,126		784,330
Nestle SA	422,523		30,985,340
Novartis AG	285,789		26,522,040
Novartis AG sponsored ADR	15,706		1,455,789
Pargesa Holding SA	3,924		304,858
Partners Group Holding AG	2,221		590,366
Roche Holding AG (participation certificate)	92,086		27,174,729
Schindler Holding AG:
(participation certificate)	6,356		887,852
(Reg.)	2,416		326,938
SGS SA (Reg.)	709		1,556,315
Sika AG (Bearer)	280		998,181
Sonova Holding AG Class B	7,142		1,111,959
Common Stocks - continued
	Shares		Value
Switzerland - continued
Sulzer AG (Reg.)	3,269		$ 371,697
Swatch Group AG (Bearer)	4,033		1,909,718
Swatch Group AG (Bearer) (Reg.)	6,510		550,084
Swiss Life Holding AG	4,235		970,113
Swiss Prime Site AG	7,305		555,002
Swiss Re Ltd.	46,137		3,725,869
Swisscom AG	3,048		1,794,618
Syngenta AG:
sponsored ADR	4,350		269,700
(Switzerland)	11,370		3,516,259
Transocean Ltd. (Switzerland) (d)	47,676		1,403,795
UBS AG	445,622		7,748,539
UBS AG (NY Shares)	32,977		573,140
Zurich Insurance Group AG	19,531		5,903,045
TOTAL SWITZERLAND			154,888,295
Taiwan - 2.5%
Acer, Inc. (a)	301,013		206,530
Advanced Semiconductor Engineering, Inc.	814,639		981,211
Advantech Co. Ltd.	45,516		316,183
Asia Cement Corp.	293,785		378,670
Asia Pacific Telecom Co. Ltd.	267,000		157,952
ASUSTeK Computer, Inc.	89,422		911,592
AU Optronics Corp.	1,161,000		552,437
Catcher Technology Co. Ltd.	81,000		682,715
Cathay Financial Holding Co. Ltd.	1,079,227		1,776,187
Chang Hwa Commercial Bank	643,198		404,899
Cheng Shin Rubber Industry Co. Ltd.	215,513		502,564
Chicony Electronics Co. Ltd.	69,660		200,290
China Airlines Ltd. (a)	299,835		117,201
China Development Finance Holding Corp.	1,792,819		575,382
China Life Insurance Co. Ltd.	391,383		340,825
China Motor Co. Ltd.	78,000		70,983
China Steel Corp.	1,615,421		1,391,485
Chinatrust Financial Holding Co. Ltd.	1,807,159		1,265,350
Chunghwa Picture Tubes, Ltd. (a)	551		28
Chunghwa Telecom Co. Ltd.	504,400		1,536,541
Clevo Co. Ltd.	47,544		84,289
Compal Electronics, Inc.	564,394		416,503
CTCI Corp.	70,000		114,262
Delta Electronics, Inc.	241,000		1,443,552
E.SUN Financial Holdings Co. Ltd.	822,298		520,018
Common Stocks - continued
	Shares		Value
Taiwan - continued
ECLAT Textile Co. Ltd.	22,880		$ 217,916
EPISTAR Corp.	124,000		223,880
EVA Airways Corp. (a)	196,100		114,716
Evergreen Marine Corp. (Taiwan) (a)	188,199		111,065
Far Eastern Department Stores Co. Ltd.	116,530		105,203
Far Eastern Textile Ltd.	396,659		416,454
Far EasTone Telecommunications Co. Ltd.	211,000		466,231
Farglory Land Development Co. Ltd.	42,725		42,191
First Financial Holding Co. Ltd.	984,119		604,953
Formosa Chemicals & Fibre Corp.	418,620		973,204
Formosa International Hotel Corp.	3,884		40,159
Formosa Petrochemical Corp.	157,000		367,955
Formosa Plastics Corp.	551,640		1,271,952
Formosa Taffeta Co. Ltd.	92,000		92,876
Foxconn Technology Co. Ltd.	121,605		323,957
Fubon Financial Holding Co. Ltd.	875,487		1,479,821
Giant Manufacturing Co. Ltd.	39,042		315,629
Hermes Microvision, Inc.	5,000		234,755
Highwealth Construction Corp.	63,000		108,867
HIWIN Technologies Corp.	27,743		219,150
Hon Hai Precision Industry Co. Ltd. (Foxconn)	1,638,946		5,179,176
Hotai Motor Co. Ltd.	32,000		467,529
HTC Corp. (a)	86,057		380,455
Hua Nan Financial Holdings Co. Ltd.	801,786		474,344
Innolux Corp.	1,005,819		458,938
Inotera Memories, Inc. (a)	293,000		452,119
Inventec Corp.	277,209		192,586
Kinsus Interconnect Technology Corp.	32,000		120,240
Largan Precision Co. Ltd.	13,000		911,817
Lite-On Technology Corp.	278,246		389,887
MediaTek, Inc.	184,989		2,638,071
Mega Financial Holding Co. Ltd.	1,320,906		1,093,848
Merida Industry Co. Ltd.	29,050		200,354
Nan Ya Plastics Corp.	629,980		1,301,755
Novatek Microelectronics Corp.	77,000		397,935
Pegatron Corp.	216,652		394,232
Phison Electronics Corp.	16,199		109,242
Pou Chen Corp.	288,240		317,344
Powertech Technology, Inc.	80,700		135,465
President Chain Store Corp.	78,000		583,403
Quanta Computer, Inc.	360,000		904,892
Radiant Opto-Electronics Corp.	51,672		180,276
Common Stocks - continued
	Shares		Value
Taiwan - continued
Realtek Semiconductor Corp.	64,744		$ 214,273
Ruentex Development Co. Ltd.	77,031		114,810
Ruentex Industries Ltd.	83,484		178,192
ScinoPharm Taiwan Ltd.	19,468		39,372
Shin Kong Financial Holding Co. Ltd.	1,096,889		332,644
Siliconware Precision Industries Co. Ltd.	380,000		541,231
Simplo Technology Co. Ltd.	32,971		160,156
Sinopac Holdings Co.	993,085		430,500
Standard Foods Corp.	42,470		97,836
Synnex Technology International Corp.	156,496		219,667
Taishin Financial Holdings Co. Ltd.	1,000,158		476,365
Taiwan Business Bank	475,824		142,920
Taiwan Cement Corp.	446,110		681,368
Taiwan Cooperative Financial Holding Co. Ltd.	785,351		419,397
Taiwan Fertilizer Co. Ltd.	89,000		157,650
Taiwan Glass Industry Corp.	112,210		86,916
Taiwan Mobile Co. Ltd.	219,400		710,826
Taiwan Semiconductor Manufacturing Co. Ltd.	3,227,000		13,966,821
TECO Electric & Machinery Co. Ltd.	254,000		282,179
Transcend Information, Inc.	23,000		77,590
TSRC Corp.	67,945		76,329
U-Ming Marine Transport Corp.	42,000		65,756
Unified-President Enterprises Corp.	598,597		1,027,676
Unimicron Technology Corp.	141,000		108,366
United Microelectronics Corp.	1,632,000		723,477
Vanguard International Semiconductor Corp.	122,000		183,004
Walsin Lihwa Corp. (a)	388,000		128,611
Wistron Corp.	317,082		332,612
WPG Holding Co. Ltd.	172,107		209,322
Yang Ming Marine Transport Corp. (a)	176,100		80,489
Yuanta Financial Holding Co. Ltd.	1,122,560		564,581
Yulon Motor Co. Ltd.	118,000		173,817
TOTAL TAIWAN			62,967,244
Thailand - 0.5%
Advanced Info Service PCL (For. Reg.)	132,000		968,928
Airports of Thailand PCL (For. Reg.)	57,100		424,156
Bangkok Bank PCL	66,000		409,270
Bangkok Bank PCL (For. Reg.)	61,400		380,745
Bangkok Dusit Medical Services PCL (For. Reg.)	369,000		209,479
Banpu PCL (For. Reg.)	102,000		88,470
BEC World PCL (For. Reg.)	114,000		168,878
Common Stocks - continued
	Shares		Value
Thailand - continued
BTS Group Holdings PCL	632,900		$ 200,248
Bumrungrad Hospital PCL (For. Reg.)	40,000		163,311
C.P. ALL PCL (For. Reg.)	567,300		792,252
Central Pattana PCL (For. Reg.)	159,300		236,107
Charoen Pokphand Foods PCL (For. Reg.)	324,400		311,281
Glow Energy PCL (For. Reg.)	59,300		182,245
Home Product Center PCL (For. Reg.)	464,763		132,636
Indorama Ventures PCL:
warrants 8/24/17 (a)	17,750		1,956
warrants 8/24/18 (a)	13,653		1,232
(For. Reg.)	177,500		130,214
IRPC PCL (For. Reg.)	1,226,500		128,718
Kasikornbank PCL	85,300		617,807
Kasikornbank PCL (For. Reg.)	150,200		1,087,862
Krung Thai Bank PCL (For. Reg.)	443,675		317,341
Minor International PCL	47,400		50,551
Minor International PCL:
warrants 10/16/17 (a)	7,655		1,460
(For. Reg.)	153,100		163,277
PTT Exploration and Production PCL	12,300		55,283
PTT Exploration and Production PCL (For. Reg.)	166,551		748,567
PTT Global Chemical PCL (For. Reg.)	200,286		380,046
PTT PCL	9,700		109,743
PTT PCL (For. Reg.)	101,400		1,147,214
Siam Cement PCL	4,000		55,519
Siam Cement PCL (For. Reg.)	47,300		656,510
Siam Commercial Bank PCL (For. Reg.)	223,300		1,217,289
Thai Oil PCL (For. Reg.)	86,100		118,098
TMB PCL (For. Reg.)	1,973,100		186,465
True Corp. PCL (For. Reg.) (a)	1,088,054		394,316
TOTAL THAILAND			12,237,474
Turkey - 0.4%
Akbank T.A.S.	228,068		823,965
Anadolu Efes Biracilik Ve Malt Sanayii A/S (a)	26,229		306,820
Arcelik A/S	26,298		161,504
Bim Birlesik Magazalar A/S JSC	27,974		639,363
Coca-Cola Icecek Sanayi A/S	8,845		201,760
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S	301,382		338,989
Enka Insaat ve Sanayi A/S	48,614		117,672
Eregli Demir ve Celik Fabrikalari T.A.S.	186,518		388,535
Ford Otomotiv Sanayi A/S	8,511		108,750
Common Stocks - continued
	Shares		Value
Turkey - continued
Haci Omer Sabanci Holding A/S	114,489		$ 522,828
Koc Holding A/S	88,475		451,799
Koza Altin Isletmeleri A/S	3,700		23,888
TAV Havalimanlari Holding A/S	22,752		190,909
Tofas Turk Otomobil Fabrikasi A/S	15,095		94,741
Tupras Turkiye Petrol Rafinelleri A/S	15,162		329,142
Turk Hava Yollari AO (a)	99,558		326,537
Turk Sise ve Cam Fabrikalari A/S	69,761		106,086
Turk Telekomunikasyon A/S	80,188		230,536
Turkcell Iletisim Hizmet A/S (a)	118,404		688,315
Turkiye Garanti Bankasi A/S	304,739		1,189,364
Turkiye Halk Bankasi A/S	75,648		505,420
Turkiye Is Bankasi A/S Series C	215,369		538,750
Turkiye Vakiflar Bankasi TAO	79,560		171,101
Ulker Biskuvi Sanayi A/S	16,952		125,082
Yapi ve Kredi Bankasi A/S	124,154		272,031
TOTAL TURKEY			8,853,887
United Arab Emirates - 0.1%
Abu Dhabi Commercial Bank PJSC (a)	145,634		313,234
Aldar Properties PJSC (a)	413,016		359,829
Arabtec Holding Co. (a)	161,929		186,485
DP World Ltd.	21,792		417,535
Dubai Financial Market PJSC (a)	236,077		176,752
Dubai Islamic Bank Pakistan Ltd. (a)	74,292		152,912
Emaar Properties PJSC (a)	226,335		616,213
First Gulf Bank PJSC	58,000		286,605
National Bank of Abu Dhabi PJSC (a)	84,691		311,279
TOTAL UNITED ARAB EMIRATES			2,820,844
United Kingdom - 13.2%
3i Group PLC	128,682		817,029
Aberdeen Asset Management PLC	118,180		820,488
Admiral Group PLC	26,023		555,747
Aggreko PLC	31,342		763,097
AMEC PLC	38,266		636,627
Anglo American PLC (United Kingdom)	182,952		3,862,765
Antofagasta PLC	51,896		583,202
ARM Holdings PLC	172,594		2,443,477
ARM Holdings PLC sponsored ADR	3,940		168,277
ASOS PLC (a)	7,595		322,697
Associated British Foods PLC	46,890		2,065,774
Common Stocks - continued
	Shares		Value
United Kingdom - continued
AstraZeneca PLC:
(United Kingdom)	155,093		$ 11,329,293
sponsored ADR	10,274		749,386
Aviva PLC	375,926		3,144,339
Aviva PLC sponsored ADR	4,211		70,113
Babcock International Group PLC	64,270		1,125,799
BAE Systems PLC	410,119		3,009,381
Barclays PLC	2,043,249		7,858,169
Barclays PLC sponsored ADR	25,999		400,385
BG Group PLC	447,084		7,451,116
BHP Billiton PLC	262,229		6,775,107
BHP Billiton PLC ADR (d)	7,219		375,677
BP PLC	2,369,944		17,051,521
BP PLC sponsored ADR	7,617		331,035
British American Tobacco PLC:
(United Kingdom)	231,086		13,097,398
sponsored ADR (d)	6,978		792,422
British Land Co. PLC	125,470		1,462,204
British Sky Broadcasting Group PLC	134,658		1,908,554
BT Group PLC	1,006,890		5,935,948
BT Group PLC sponsored ADR	2,807		165,613
Bunzl PLC	42,999		1,165,914
Burberry Group PLC	57,047		1,397,161
Capita Group PLC	86,814		1,523,474
Carnival PLC	19,890		793,133
Carnival PLC sponsored ADR	3,896		155,217
Carphone Warehouse Group PLC	128,109		809,907
Centrica PLC	657,495		3,181,679
Cobham PLC	147,848		688,015
Compass Group PLC	219,505		3,532,490
Croda International PLC	17,841		654,999
Diageo PLC	307,839		9,078,908
Diageo PLC sponsored ADR	5,128		604,950
Direct Line Insurance Group PLC	197,621		872,531
easyJet PLC	21,075		505,705
Fresnillo PLC	28,059		313,080
G4S PLC (United Kingdom)	190,609		779,064
GKN PLC	212,129		1,079,110
GlaxoSmithKline PLC	603,350		13,644,136
GlaxoSmithKline PLC sponsored ADR	16,428		747,310
Hammerson PLC	99,103		971,820
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Hargreaves Lansdown PLC	29,584		$ 470,179
HSBC Holdings PLC:
(United Kingdom)	2,391,981		24,387,116
sponsored ADR (d)	20,986		1,070,706
ICAP PLC	70,536		472,333
IMI PLC	35,631		696,527
Imperial Tobacco Group PLC	125,083		5,424,583
Inmarsat PLC	55,521		608,396
InterContinental Hotel Group PLC	26,323		999,882
InterContinental Hotel Group PLC ADR	6,479		246,267
Intertek Group PLC	21,203		923,260
Intu Properties PLC	119,387		650,107
Investec PLC	68,410		625,971
ITV PLC	493,528		1,602,678
J Sainsbury PLC (d)	163,689		642,850
Johnson Matthey PLC	26,334		1,252,842
Kingfisher PLC	309,910		1,501,348
Land Securities Group PLC	103,199		1,827,518
Legal & General Group PLC	770,544		2,847,397
Lloyds Banking Group PLC (a)	7,147,362		8,826,204
Lloyds Banking Group PLC sponsored ADR (a)(d)	81,591		401,428
London Stock Exchange Group PLC	29,114		938,459
Marks & Spencer Group PLC	214,089		1,392,859
Meggitt PLC	108,148		780,423
Melrose PLC	137,531		563,441
National Grid PLC	456,258		6,770,851
National Grid PLC sponsored ADR	6,286		467,616
Next PLC	20,211		2,083,768
Old Mutual PLC	641,684		1,986,281
Pearson PLC	96,749		1,810,802
Pearson PLC sponsored ADR	10,528		197,400
Persimmon PLC	39,940		934,740
Prudential PLC	314,349		7,279,075
Prudential PLC ADR	10,458		484,519
Reckitt Benckiser Group PLC	85,165		7,152,519
Reed Elsevier PLC	144,629		2,376,098
Reed Elsevier PLC sponsored ADR	1,404		92,299
Rexam PLC	93,930		715,237
Rio Tinto PLC	159,287		7,579,104
Rio Tinto PLC sponsored ADR	7,367		353,395
Rolls-Royce Group PLC	246,309		3,321,593
Royal & Sun Alliance Insurance Group PLC	132,697		1,025,927
Royal Bank of Scotland Group PLC (a)	313,434		1,948,792
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Royal Bank of Scotland Group PLC sponsored ADR (a)	7,317		$ 90,950
Royal Dutch Shell PLC:
Class A (Netherlands)	103,129		3,687,936
Class A (United Kingdom)	394,622		14,096,589
Class A sponsored ADR	8,308		596,431
Class B (United Kingdom)	320,559		11,843,187
Royal Mail PLC	87,952		620,754
SABMiller PLC	126,208		7,116,797
Sage Group PLC	146,444		884,824
Schroders PLC	15,759		607,805
Scottish & Southern Energy PLC	127,768		3,268,204
Segro PLC	96,890		589,291
Severn Trent PLC	31,812		1,015,758
Smith & Nephew PLC	107,481		1,824,525
Smith & Nephew PLC sponsored ADR	4,772		162,487
Smiths Group PLC	51,791		965,203
Sports Direct International PLC (a)	35,756		368,647
Standard Chartered PLC (United Kingdom)	323,320		4,859,752
Standard Life PLC	312,356		1,967,224
Tate & Lyle PLC	62,538		606,255
Tesco PLC	1,063,722		2,952,881
The Weir Group PLC	27,385		1,000,132
Travis Perkins PLC	32,226		851,638
TUI Travel PLC	64,057		408,453
Tullow Oil PLC	116,824		907,879
Unilever PLC	157,793		6,347,302
Unilever PLC sponsored ADR	10,196		410,185
United Utilities Group PLC	87,796		1,200,122
Vodafone Group PLC	3,342,407		11,115,029
Vodafone Group PLC sponsored ADR	12,032		399,703
Whitbread PLC	23,410		1,634,273
William Hill PLC	112,642		649,597
WM Morrison Supermarkets PLC	271,014		671,122
TOTAL UNITED KINGDOM			328,024,968
United States of America - 0.0%
Southern Copper Corp. (d)	21,967		632,210
TOTAL COMMON STOCKS (Cost $2,161,053,822)		2,329,783,348
Nonconvertible Preferred Stocks - 1.7%
	Shares		Value
Brazil - 0.9%
AES Tiete SA (PN) (non-vtg.)	13,600		$ 102,690
Ambev SA sponsored ADR	66,500		444,220
Banco Bradesco SA:
(PN)	233,579		3,517,966
(PN) sponsored ADR	41,987		628,965
Banco do Brasil SA sponsored ADR (d)	5,600		62,608
Banco do Estado Rio Grande do Sul SA	19,900		118,859
Bradespar SA (PN)	28,000		189,160
Brasil Foods SA sponsored ADR	9,700		252,685
Braskem SA (PN-A)	23,300		170,479
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)	37,800		143,091
Cielo SA sponsored ADR	5,760		95,040
Companhia Brasileira de Distribuicao Grupo Pao de Acucar:
(PN)	15,601		654,160
sponsored ADR	2,200		91,960
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) sponsored ADR	8,400		65,184
Companhia Energetica de Minas Gerais (CEMIG):
(PN)	84,204		483,564
(PN) sponsored (non-vtg.)	12,911		74,626
Companhia Energetica de Sao Paulo Series B	25,000		246,479
Companhia Paranaense de Energia-Copel (PN-B)	11,900		166,213
Companhia Siderurgica Nacional SA (CSN) sponsored ADR (d)	11,400		37,392
Embraer SA sponsored ADR	3,625		140,070
Fibria Celulose SA sponsored ADR (a)(d)	7,900		96,617
Gerdau SA:
(PN)	97,250		435,249
sponsored ADR	17,150		77,690
Itau Unibanco Holding SA	305,709		4,534,003
Itau Unibanco Holding SA sponsored ADR	56,325		831,357
Itausa-Investimentos Itau SA (PN)	411,603		1,642,824
Lojas Americanas SA (PN)	71,731		423,224
Metalurgica Gerdau SA (PN)	31,600		170,887
Oi SA (PN)	373,303		195,849
Petroleo Brasileiro SA - Petrobras:
(PN) (non-vtg.)	477,240		2,942,906
(PN) sponsored (non-vtg.)	41,350		505,711
sponsored ADR (d)	30,750		359,775
Suzano Papel e Celulose SA	44,600		188,271
Telefonica Brasil SA	32,440		662,573
Telefonica Brasil SA sponsored ADR	5,940		121,414
Nonconvertible Preferred Stocks - continued
	Shares		Value
Brazil - continued
TIM Participacoes SA sponsored ADR	1,933		$ 53,196
Ultrapar Participacoes SA sponsored ADR	5,800		125,860
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.) (a)	43,100		99,144
Vale SA:
(PN-A)	222,600		1,935,926
(PN-A) sponsored ADR (d)	32,200		282,072
TOTAL BRAZIL			23,369,959
Chile - 0.0%
Embotelladora Andina SA Class B	34,000		106,777
Sociedad Quimica y Minera de Chile SA (PN-B)	12,819		298,632
TOTAL CHILE			405,409
Colombia - 0.1%
Banco Davivienda SA	14,145		211,058
BanColombia SA (PN)	53,551		752,707
Grupo Aval Acciones y Valores SA	430,189		291,671
Grupo de Inversiones Suramerica SA	13,828		278,778
Inversiones Argos SA	16,012		176,657
TOTAL COLOMBIA			1,710,871
France - 0.1%
Air Liquide SA (a)	12,685		1,530,010
Germany - 0.4%
Bayerische Motoren Werke AG (BMW) (non-vtg.)	7,442		595,555
FUCHS PETROLUB AG	9,404		364,616
Henkel AG & Co. KGaA	22,775		2,248,420
Porsche Automobil Holding SE (Germany)	19,959		1,634,009
RWE AG (non-vtg.) (a)	3,046		81,609
Volkswagen AG	21,410		4,562,432
TOTAL GERMANY			9,486,641
Italy - 0.0%
Telecom Italia SpA (Risparmio Shares)	756,177		675,641
Korea (South) - 0.2%
Hyundai Motor Co.	3,726		428,278
Hyundai Motor Co. Series 2	5,065		603,400
LG Chemical Ltd.	1,377		203,773
Samsung Electronics Co. Ltd.	2,539		2,327,634
TOTAL KOREA (SOUTH)			3,563,085
Nonconvertible Preferred Stocks - continued
	Shares		Value
Russia - 0.0%
AK Transneft OAO (a)	189		$ 413,020
Sberbank (Savings Bank of the Russian Federation) (a)	74,675		98,791
Surgutneftegas (a)	472,517		324,036
TOTAL RUSSIA			835,847
United Kingdom - 0.0%
Rolls-Royce Group PLC	21,530,520		34,442
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $47,259,790)		41,611,905

U.S. Government and Government Agency Obligations - 0.3%
	Principal Amount
U.S. Treasury Obligations - 0.3%
U.S. Treasury Bills, yield at date of purchase 0.05% to 0.06% 11/28/14 to 6/25/15 (f) (Cost $6,498,612)	$ 6,500,000	6,498,525

Money Market Funds - 6.2%
	Shares
Fidelity Cash Central Fund, 0.11% (b)	103,466,769		$ 103,466,769
Fidelity Securities Lending Cash Central Fund, 0.11% (b)(c)	50,239,891		50,239,891
TOTAL MONEY MARKET FUNDS (Cost $153,706,660)		153,706,660
TOTAL INVESTMENT PORTFOLIO - 102.2% (Cost $2,368,518,884)			2,531,600,438
NET OTHER ASSETS (LIABILITIES) - (2.2)%			(53,402,752)
NET ASSETS - 100%		$ 2,478,197,686

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
869 NYSE E-mini MSCI EAFE Index Contracts (United States)	Dec. 2014	$ 79,774,200	$ 694,255
543 NYSE E-mini MSCI EAFE Index Contracts (United States)	Dec. 2014	27,519,240	266,374
58 TME S&P/TSX 60 Index Contracts (Canada)	Dec. 2014	8,725,860	8,318
TOTAL EQUITY INDEX CONTRACTS		$ 116,019,300	$ 968,947

The face value of futures purchased as a percentage of net assets is 4.7%

Legend

(a) Non-income producing

(d) Security or a portion of the security is on loan at period end.

(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 $3,348,700.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 51,867
Fidelity Securities Lending Cash Central Fund	1,311,926
Total	$ 1,363,793

Other Information

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 254,830,683	$ 144,711,857	$ 110,118,826	$ -
Consumer Staples	234,366,004	92,131,043	142,234,961	-
Energy	200,929,527	83,673,929	117,255,598	-
Financials	652,635,214	271,938,134	380,247,998	449,082
Health Care	202,874,475	50,271,169	152,603,306	-
Industrials	257,035,163	130,981,598	125,521,310	532,255
Information Technology	168,842,975	43,255,953	125,587,022	-
Materials	184,644,446	98,166,251	86,478,195	-
Telecommunication Services	129,071,790	40,326,880	88,744,910	-
Utilities	86,164,976	50,334,959	35,830,017	-
U.S. Government and Government Agency Obligations	6,498,525	-	6,498,525	-
Money Market Funds	153,706,660	153,706,660	-	-
Total Investments in Securities:	$ 2,531,600,438	$ 1,159,498,433	$ 1,371,120,668	$ 981,337
Derivative Instruments:
Assets
Futures Contracts	$ 968,947	$ 968,947	$ -	$ -

Transfers	Total
Level 1 to Level 2	$ 311,819,168
Level 2 to Level 1	$ 3,610,118

Value of Derivative Instruments

Primary Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts (a)	$ 968,947	$ -
Total Value of Derivatives	$ 968,947	$ -

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements

Statement of Assets and Liabilities

	October 31, 2014

Assets
Investment in securities, at value (including securities loaned of $48,070,288) - See accompanying schedule: Unaffiliated issuers (cost $2,214,812,224)	$ 2,377,893,778
Fidelity Central Funds (cost $153,706,660)	153,706,660
Total Investments (cost $2,368,518,884)		$ 2,531,600,438
Cash		1,285
Foreign currency held at value (cost $11,685,221)		11,655,350
Receivable for fund shares sold		51,019,923
Dividends receivable		4,777,371
Distributions receivable from Fidelity Central Funds		55,522
Receivable for daily variation margin for derivative instruments		829,246
Other receivables		925
Total assets		2,599,940,060

Liabilities
Payable for investments purchased	$ 70,766,004
Accrued management fee	390,764
Other payables and accrued expenses	345,715
Collateral on securities loaned, at value	50,239,891
Total liabilities		121,742,374

Net Assets		$ 2,478,197,686
Net Assets consist of:
Paid in capital		$ 2,268,108,147
Undistributed net investment income		66,254,918
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(19,744,294)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		163,578,915
Net Assets, for 203,734,982 shares outstanding		$ 2,478,197,686
Net Asset Value, offering price and redemption price per share ($2,478,197,686 ÷ 203,734,982 shares)		$ 12.16

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Operations

	Year ended October 31, 2014

Investment Income
Dividends		$ 80,394,647
Interest		5,775
Income from Fidelity Central Funds		1,363,793
Income before foreign taxes withheld		81,764,215
Less foreign taxes withheld		(5,843,073)
Total income		75,921,142

Expenses
Management fee	$ 4,465,476
Independent trustees' compensation	9,103
Interest	301
Miscellaneous	3,463
Total expenses before reductions	4,478,343
Expense reductions	(33)	4,478,310
Net investment income (loss)		71,442,832
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	(3,029,178)
Foreign currency transactions	(502,292)
Futures contracts	(5,268,748)
Total net realized gain (loss)		(8,800,218)
Change in net unrealized appreciation (depreciation) on: Investment securities (net of increase in deferred foreign taxes of $208,230)	(53,840,557)
Assets and liabilities in foreign currencies	(42,319)
Futures contracts	782,260
Total change in net unrealized appreciation (depreciation)		(53,100,616)
Net gain (loss)		(61,900,834)
Net increase (decrease) in net assets resulting from operations		$ 9,541,998

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements - continued

Statement of Changes in Net Assets

	Year ended October 31, 2014	Year ended October 31, 2013
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 71,442,832	$ 35,665,329
Net realized gain (loss)	(8,800,218)	158,463
Change in net unrealized appreciation (depreciation)	(53,100,616)	209,700,540
Net increase (decrease) in net assets resulting from operations	9,541,998	245,524,332
Distributions to shareholders from net investment income	(37,441,482)	(24,958,322)
Distributions to shareholders from net realized gain	(2,229,612)	(1,833,673)
Total distributions	(39,671,094)	(26,791,995)
Share transactions Proceeds from sales of shares	973,077,158	616,395,300
Reinvestment of distributions	39,671,095	26,791,994
Cost of shares redeemed	(228,291,739)	(165,779,887)
Net increase (decrease) in net assets resulting from share transactions	784,456,514	477,407,407
Total increase (decrease) in net assets	754,327,418	696,139,744

Net Assets
Beginning of period	1,723,870,268	1,027,730,524
End of period (including undistributed net investment income of $66,254,918 and undistributed net investment income of $31,941,857, respectively)	$ 2,478,197,686	$ 1,723,870,268
Other Information Shares
Sold	79,251,251	54,362,900
Issued in reinvestment of distributions	3,321,991	2,532,325
Redeemed	(18,389,732)	(14,781,206)
Net increase (decrease)	64,183,510	42,114,019

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights

Years ended October 31,	2014	2013	2012	2011	2010
Selected Per-Share Data
Net asset value, beginning of period	$ 12.35	$ 10.55	$ 10.24	$ 11.05	$ 9.76
Income from Investment Operations
Net investment income (loss)^B	.39	.31	.31	.31	.23
Net realized and unrealized gain (loss)	(.33)	1.75	.19	(.96)	1.09
Total from investment operations	.06	2.06	.50	(.65)	1.32
Distributions from net investment income	(.24)	(.25)	(.19)	(.11)	(.03)
Distributions from net realized gain	(.01)	(.02)	-	(.05)	-
Total distributions	(.25)	(.26)^F	(.19)	(.16)	(.03)
Net asset value, end of period	$ 12.16	$ 12.35	$ 10.55	$ 10.24	$ 11.05
Total Return^A	.52%	19.97%	5.08%	(6.00)%	13.55%
Ratios to Average Net Assets^{C, E}
Expenses before reductions	.20%	.20%	.20%	.24%	.25%
Expenses net of fee waivers, if any	.20%	.20%	.20%	.24%	.25%
Expenses net of all reductions	.20%	.20%	.20%	.24%	.18%
Net investment income (loss)	3.19%	2.73%	3.09%	2.81%	2.27%
Supplemental Data
Net assets, end of period (000 omitted)	$ 2,478,198	$ 1,723,870	$ 1,027,731	$ 483,664	$ 182,037
Portfolio turnover rate^D	2%	1%	1%	17%	8%

^A Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^B Calculated based on average shares outstanding during the period.

^C Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^D Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^F Total distributions of $.26 per share is comprised of distributions from net investment income of $.245 and distributions from net realized gain of $.018 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Notes to Financial Statements

For the period ended October 31, 2014

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 of the Fund are only available for purchase by mutual funds for which Fidelity Management & Research Company (FMR) or an affiliate serves as an investment manager. 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.

The Fund invests 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 Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.

3. Significant Accounting Policies.

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 following summarizes the significant accounting policies of the Fund:

Annual Report

3. Significant Accounting Policies - continued

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors 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 FMR Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations.

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 - 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:

Annual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Investment Valuation - continued

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 October 31, 2014, including information on transfers between Levels 1 and 2, as well as a roll forward of Level 3 investments, is included at the end of the Fund's Schedule of Investments.

Foreign Currency. The Fund 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.

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

Annual Report

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

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. 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. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. 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.

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. 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. As of October 31, 2014, the Fund did not have any unrecognized tax benefits in the financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. 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.

Annual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

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.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), market discount, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

Gross unrealized appreciation	$ 344,597,264
Gross unrealized depreciation	(187,474,993)
Net unrealized appreciation (depreciation) on securities and other investments	$ 157,122,271

Tax Cost	$ 2,374,478,167

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$ 66,844,561
Capital loss carryforward	$ (13,717,418)
Net unrealized appreciation (depreciation)	$ 157,307,296

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of fiscal period end and is subject to adjustment.

Fiscal year of expiration
2019	$ (2,685,793)
No expiration
Short-term	(3,216,099)
Long-term	(7,815,526)
Total no expiration	(11,031,625)
Total capital loss carryforward	$ (13,717,418)

Annual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The tax character of distributions paid was as follows:

	October 31, 2014	October 31, 2013

Ordinary Income	$ 39,671,094	$ 26,791,995

Restricted Securities. The Fund 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 is included at the end of the Fund's Schedule of Investments.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, 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.

The Fund used derivatives 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 Fund may not achieve its objectives.

Annual Report

Notes to Financial Statements - continued

4. Derivative Instruments - continued

Risk Exposures and the Use of Derivative Instruments - continued

The Fund's use of derivatives increased or decreased its exposure to the following risk:

Equity Risk

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the 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 the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.

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. The Fund used futures contracts to manage its exposure to the stock market.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments.

During the period the Fund recognized net realized gain (loss) of $(5,268,748) and a change in net unrealized appreciation (depreciation) of $782,260 related to its investment in futures contracts. These amounts are included in the Statement of Operations.

Annual Report

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $847,765,753 and $43,809,627, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (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 .20% of the Fund's average net assets. Under the management contract, the investment adviser pays all other expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense, including commitment fees.

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 SEC, the Fund, along with other registered investment companies having management contracts with FMR or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. The Fund's 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
Borrower	$ 17,436,500	.31%	$ 301

7. Committed Line of Credit.

The Fund participates 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 Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $3,463 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

Annual Report

Notes to Financial Statements - continued

8. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. On the settlement date of the loan, the 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 the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The 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. The value of loaned securities and cash collateral at period end are disclosed on the Fund's 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. Total security lending income during the period amounted to $1,311,926.

9. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $33.

10. Other.

The 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, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, mutual funds managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Fund.

Annual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Salem Street Trust and Shareholders of Fidelity Series Global ex U.S. Index Fund:

We have audited the accompanying statement of assets and liabilities of Fidelity Series Global ex U.S. Index Fund (the Fund), a fund of Fidelity Salem Street Trust, including the schedule of investments, as of October 31, 2014, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of October 31, 2014, by correspondence with the custodians and brokers; where replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Fidelity Series Global ex U.S. Index Fund as of October 31, 2014, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

December 22, 2014

Annual Report

Trustees and Officers

The Trustees and officers of the trust and fund, as applicable, are listed below. The Board of Trustees governs the fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee the fund's activities, review contractual arrangements with companies that provide services to the fund, oversee management of the risks associated with such activities and contractual arrangements, and review the fund's performance. Except for Elizabeth S. Acton, John Engler, and James C. Curvey, each of the Trustees oversees 233 funds. Ms. Acton and Mr. Engler each oversee 215 funds. Mr. Curvey oversees 407 funds.

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the fund (Independent Trustee), shall retire not later than the last day of the month in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. The officers hold office without limit in time, except that any officer may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.

Experience, Skills, Attributes, and Qualifications of the Fund's Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing the fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the fund, is provided below.

Annual Report

Board Structure and Oversight Function. Abigail P. Johnson is an interested person (as defined in the 1940 Act) and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the fund. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Albert R. Gamper, Jr. serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity funds are overseen by different Boards of Trustees. The fund's Board oversees Fidelity's investment-grade bond, money market, and asset allocation funds and another Board oversees Fidelity's equity and high income funds. The asset allocation funds may invest in Fidelity funds that are overseen by such other Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, the fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the fund's activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the fund's business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the fund are carried out by or through FMR, its affiliates, and other service providers, the fund's exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the fund's activities, oversight is exercised primarily through the Operations and Audit Committees. In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board. Appropriate personnel, including but not limited to the fund's Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the fund's Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of FMR's risk management program for the Fidelity funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Fund's Trustees."

Annual Report

Trustees and Officers - continued

The fund's Statement of Additional Information (SAI) include more information about the Trustees. To request a free copy, call Fidelity at 1-800-835-5092.

Interested Trustees*:

Correspondence intended for each Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
James C. Curvey (1935)
Year of Election or Appointment: 2007 Trustee
	Mr. Curvey also serves as Trustee of other Fidelity funds. Mr. Curvey is a Director of Fidelity Research & Analysis Co. (2009-present), and Vice Chairman (2007-present) and Director of FMR LLC. In addition, Mr. Curvey serves as an Overseer for the Boston Symphony Orchestra and a member of the board of Artis-Naples, Naples, Florida, and as a Trustee for Brewster Academy, Wolfeboro, New Hampshire. Previously, Mr. Curvey served as a Director of Fidelity Investments Money Management, Inc. (2009-2014), a Director of FMR (2007-2014), and a Director of FMR Co., Inc. (2007-2014).
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009 Trustee Chairman of the Board of Trustees
	Ms. Johnson also serves as Trustee of other Fidelity funds. Ms. Johnson serves as President (2013-present) and Chief Executive Officer (2014-present) of FMR LLC, President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of FMR Co., Inc. (2011-present), Chairman and Director of FMR (2011- present), and the Vice Chairman and Director (2007-present) of FMR LLC. Previously, Ms. Johnson served as President and a Director of FMR (2001-2005), a Trustee of other investment companies advised by FMR, Fidelity Investments Money Management, Inc., and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity funds (2001-2005), and managed a number of Fidelity funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.

* Trustees have been determined to be "Interested Trustees" by virtue of, among other things, their affiliation with the trust or various entities under common control with FMR.

Annual Report

Trustees and Officers - continued

Independent Trustees:

Correspondence intended for each Independent Trustee (that is, the Trustees other than the Interested Trustees) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013 Trustee
	Ms. Acton also serves as Trustee or Member of the Advisory Board of other Fidelity funds. Prior to her retirement in April 2012, Ms. Acton was Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011), and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board of Directors and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present).
John Engler (1948)
Year of Election or Appointment: 2014 Trustee
	Mr. Engler also serves as Trustee or Member of the Advisory Board of other Fidelity funds. He serves as president of the Business Roundtable (2011-present), and on the board of directors/trustees for Universal Forest Products (manufacturing) (2003-present), K12 Inc. (for-profit education and curriculum) (2012-present), and the Annie E. Casey Foundation (2004-present). Previously, Mr. Engler served as a trustee of The Munder Funds (2003-2014), president and CEO of the National Association of Manufacturers (2005-2011) and as governor of Michigan (1991-2003).
Albert R. Gamper, Jr. (1942)
Year of Election or Appointment: 2006 Trustee Chairman of the Independent Trustees
	Mr. Gamper also serves as Trustee of other Fidelity funds. Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (2002-2003). Mr. Gamper currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2000-present), a member of the Board of Trustees, Rutgers University (2004-present), and Chairman of the Board of Barnabas Health Care System. Previously, Mr. Gamper served as Vice Chairman of the Independent Trustees of certain Fidelity funds (2011-2012) and as Chairman of the Board of Governors, Rutgers University (2004-2007).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010 Trustee
	Mr. Gartland also serves as Trustee of other Fidelity funds. Mr. Gartland is Chairman and an investor in Gartland and Mellina Group Corp. (consulting, 2009-present). Previously, Mr. Gartland served as a partner and investor of Vietnam Partners LLC (investments and consulting, 2008-2011). Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007) including Managing Director (1987-2007).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008 Trustee
	Mr. Johnson also serves as Trustee of other Fidelity funds. Mr. Johnson serves as a member of the Board of Directors of Eaton Corporation (diversified power management, 2009-present), AGL Resources, Inc. (holding company, 2002-present) and Booz Allen Hamilton (management consulting, 2011-present). Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). He previously served on the Board of Directors of IKON Office Solutions, Inc. (1999-2008) and Delta Airlines (2005-2007). Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009 Trustee
	Mr. Kenneally also serves as Trustee of other Fidelity funds. Mr. Kenneally served as a Member of the Advisory Board for certain Fidelity funds before joining the Board of Trustees (2008-2009). Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management. Before joining Credit Suisse, he was an Executive Vice President and Chief Investment Officer for Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager and Research Analyst, and Mr. Kenneally was awarded the Chartered Financial Analyst (CFA) designation in 1991.
James H. Keyes (1940)
Year of Election or Appointment: 2007 Trustee
	Mr. Keyes also serves as Trustee of other Fidelity funds. Mr. Keyes serves as a member of the Board and Non-Executive Chairman of Navistar International Corporation (manufacture and sale of trucks, buses, and diesel engines, since 2002). Previously, Mr. Keyes served as a member of the Board of Pitney Bowes, Inc. (integrated mail, messaging, and document management solutions, 1998-2013). Prior to his retirement, Mr. Keyes served as Chairman (1993-2002) and Chief Executive Officer (1988-2002) of Johnson Controls (automotive, building, and energy) and as a member of the Board of LSI Logic Corporation (semiconductor technologies, 1984-2008).
Marie L. Knowles (1946)
Year of Election or Appointment: 2001 Trustee Vice Chairman of the Independent Trustees
	Ms. Knowles also serves as Trustee of other Fidelity funds. Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company. She served as a Director of ARCO from 1996 to 1998. Ms. Knowles currently serves as a Director and Chairman of the Audit Committee of McKesson Corporation (healthcare service, since 2002). Ms. Knowles is a member of the Board of the Catalina Island Conservancy and of the Santa Catalina Island Company (2009-present). She also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Previously, Ms. Knowles served as a Director of Phelps Dodge Corporation (copper mining and manufacturing, 1994-2007), URS Corporation (engineering and construction, 2000-2003) and America West (airline, 1999-2002).
Kenneth L. Wolfe (1939)
Year of Election or Appointment: 2005 Trustee
	Mr. Wolfe also serves as Trustee of other Fidelity funds. Prior to his retirement, Mr. Wolfe served as Chairman and a Director (2007-2009) and Chairman and Chief Executive Officer (1994-2001) of Hershey Foods Corporation. He also served as a member of the Boards of Adelphia Communications Corporation (telecommunications, 2003-2006), Bausch & Lomb, Inc. (medical/pharmaceutical, 1993-2007), and Revlon, Inc. (personal care products, 2004-2009). Mr. Wolfe previously served as Chairman of the Independent Trustees of other Fidelity funds (2008-2012).

Annual Report

Trustees and Officers - continued

Officers:

Correspondence intended for each officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.

Name, Year of Birth; Principal Occupation
Elizabeth Paige Baumann (1968)
Year of Election or Appointment: 2012 Anti-Money Laundering (AML) Officer
	Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer of FMR LLC (2012-present) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as Vice President and Deputy Anti-Money Laundering Officer (2007-2012).
Marc Bryant (1966)
Year of Election or Appointment: 2013 Assistant Secretary
	Mr. Bryant also serves as an officer of other funds. He is Senior Vice President and Deputy General Counsel of FMR LLC. Previously, Mr. Bryant served as Secretary and Chief Legal Officer of Fidelity Rutland Square Trust II (2010-2014). Prior to joining Fidelity Investments, Mr. Bryant served as a Senior Vice President and the Head of Global Retail Legal for AllianceBernstein L.P. (2006-2010), and as the General Counsel for ProFund Advisors LLC (2001-2006).
Jonathan Davis (1968)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (2003-2010).
Adrien E. Deberghes (1967)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Deberghes also serves as an officer of other funds. He is an employee of Fidelity Investments (2008-present). Prior to joining Fidelity Investments, Mr. Deberghes was Senior Vice President of Mutual Fund Administration at State Street Corporation (2007-2008), Senior Director of Mutual Fund Administration at Investors Bank & Trust (2005-2007), and Director of Finance for Dunkin' Brands (2000-2005).
Stephanie J. Dorsey (1969)
Year of Election or Appointment: 2013 President and Treasurer
	Ms. Dorsey also serves as an officer of other funds. She is an employee of Fidelity Investments (2008-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Dorsey served as Treasurer (2004-2008) of the JPMorgan Mutual Funds and Vice President (2004-2008) of JPMorgan Chase Bank.
Howard J. Galligan III (1966)
Year of Election or Appointment: 2014 Chief Financial Officer
	Mr. Galligan also serves as Chief Financial Officer of other funds. Mr. Galligan serves as President of Fidelity Pricing and Cash Management Services (FPCMS) (2014-present) and as a Director of Strategic Advisers, Inc. (2008-present). Previously, Mr. Galligan served as Chief Administrative Officer of Asset Management (2011-2014) and Chief Operating Officer and Senior Vice President of Investment Support for Strategic Advisers, Inc. (2003-2011).
Scott C. Goebel (1968)
Year of Election or Appointment: 2008 Secretary and Chief Legal Officer (CLO)
	Mr. Goebel serves as Secretary and CLO of other funds. Mr. Goebel also serves as Secretary of Fidelity SelectCo, LLC (2013-present), Fidelity Investments Money Management, Inc. (FIMM) (2010-present) and Fidelity Research and Analysis Company (FRAC) (2010-present); General Counsel, Secretary, and Senior Vice President of FMR (2008-present) and FMR Co., Inc. (2008-present); Chief Legal Officer of Fidelity Management & Research (Hong Kong) Limited (2008-present); and Assistant Secretary of Fidelity Management & Research (Japan) Limited (2008-present) and Fidelity Management & Research (U.K.) Inc. (2008-present). Previously, Mr. Goebel served as Secretary and CLO of other Fidelity funds (2008-2013), Assistant Secretary of FIMM (2008-2010), FRAC (2008-2010), and certain funds (2007-2008); and as Vice President and Secretary of Fidelity Distributors Corporation (FDC) (2005-2007). Mr. Goebel has been employed by FMR LLC or an affiliate since 2001.
Bruce T. Herring (1965)
Year of Election or Appointment: 2013 Vice President of Fidelity's Asset Allocation Funds
	Mr. Herring also serves as Vice President of other funds. He serves as Chief Investment Officer of Fidelity Global Asset Allocation (GAA) (2013-present), Group Chief Investment Officer of FMR, and President of Fidelity Research & Analysis Company (2010-present). Previously, Mr. Herring served as Vice President of certain Equity Funds (2006-2014), Chief Investment Officer and Director of Fidelity Management & Research (U.K.) Inc. (2010-2013), Vice President (2005-2006) and Senior Vice President (2006-2007) of Fidelity Management & Research Company, Vice President of FMR Co., Inc. (2001-2007), and as a portfolio manager for Fidelity U.S. Equity Funds.
Chris Maher (1972)
Year of Election or Appointment: 2013 Assistant Treasurer
	Mr. Maher serves as Assistant Treasurer of other funds. Mr. Maher is Vice President of Valuation Oversight and is an employee of Fidelity Investments. Previously, Mr. Maher served as Vice President of Asset Management Compliance (2013), Vice President of FMR's Program Management Group (2010-2013), and Vice President of Valuation Oversight (2008-2010).
Nancy D. Prior (1967)
Year of Election or Appointment: 2014 Vice President
	Ms. Prior also serves as Vice President of other funds. Ms. Prior serves as a Director of Fidelity Investments Money Management, Inc. (FIMM) (2014-present), President, Fixed Income (2014-present), Vice Chairman of Pyramis Global Advisors, LLC (2014-present), and is an employee of Fidelity Investments (2002-present). Previously, Ms. Prior served as Vice President of Fidelity's Money Market Funds (2012-2014), President, Money Market and Short Duration Bond of FMR (2013-2014), President, Money Market Group of FMR (2011-2014), Managing Director of Research (2009-2011), Senior Vice President and Deputy General Counsel (2007-2009), and Assistant Secretary of other Fidelity funds (2008-2009).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2009 Assistant Treasurer
	Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Executive Vice President of Fidelity Investments Money Management, Inc. (FIMM) (2013-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served in other fund officer roles.
Stephen Sadoski (1971)
Year of Election or Appointment: 2013 Deputy Treasurer
	Mr. Sadoski also serves as Deputy Treasurer of other funds. He is an employee of Fidelity Investments (2012-present) and has served in another fund officer role. Prior to joining Fidelity Investments, Mr. Sadoski served as an assistant chief accountant in the Division of Investment Management of the Securities and Exchange Commission (SEC) (2009-2012) and as a senior manager at Deloitte & Touche LLP (1997-2009).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013 Assistant Treasurer
	Ms. Smith also serves as an officer of other funds. She is an employee of Fidelity Investments (2009-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (1996-2009).
Renee Stagnone (1975)
Year of Election or Appointment: 2013 Deputy Treasurer
	Ms. Stagnone also serves as Deputy Treasurer of other funds. Ms. Stagnone is an employee of Fidelity Investments.
Michael H. Whitaker (1967)
Year of Election or Appointment: 2008 Chief Compliance Officer
	Mr. Whitaker also serves as Chief Compliance Officer of other funds. Mr. Whitaker also serves as Compliance Officer of FMR Co., Inc. (2014-present), FMR (2014-present), Fidelity Investments Money Management, Inc. (2014-present), and is an employee of Fidelity Investments (2007-present). Prior to joining Fidelity Investments, Mr. Whitaker worked at MFS Investment Management where he served as Senior Vice President and Chief Compliance Officer (2004-2006), and Assistant General Counsel.
Derek L. Young (1964)
Year of Election or Appointment: 2009 Vice President of Fidelity's Asset Allocation Funds
	Mr. Young also serves as Trustee or an officer of other funds. He is President and a Director of Strategic Advisers, Inc. (2011-present), President of Fidelity Global Asset Allocation (GAA) (2011-present), and Vice Chairman of Pyramis Global Advisors, LLC (2011-present). Previously, Mr. Young served as Chief Investment Officer of GAA (2009-2011) and as a portfolio manager.
Joseph F. Zambello (1957)
Year of Election or Appointment: 2011 Deputy Treasurer
	Mr. Zambello also serves as Deputy Treasurer of other funds. Mr. Zambello is an employee of Fidelity Investments. Previously, Mr. Zambello served as Vice President of FMR's Program Management Group (2009-2011) and Vice President of the Transfer Agent Oversight Group (2005-2009).

Annual Report

Distributions (Unaudited)

The Board of Trustees of Fidelity Series Global ex U.S. Index Fund voted to pay on December 08, 2014, to shareholders of record at the opening of business on December 5, 2014, a distribution of $0.005 per share derived from capital gains realized from sales of portfolio securities and a dividend of $0.350 per share from net investment income.

A percentage of the dividends distributed during the fiscal year for the fund may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code:

	December 6, 2013	December 26, 2013
Fidelity Series Global ex U.S. Index Fund	66%	73%

The amounts per share which represent income derived from sources within, and taxes paid to, foreign countries or possessions of the United States are as follows:

	Pay Date	Income	Taxes
Fidelity Series Global ex U.S. Index Fund	12/09/2013	$0.1493	$0.0119
	12/27/2013	$0.0017	$0.0000

The fund will notify shareholders in January 2015 of amounts for use in preparing 2014 income tax returns.

Annual Report

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Series Global ex U.S. Index Fund

Each year, the Board of Trustees, including the Independent Trustees (together, the Board), votes on the renewal of the management contract with Fidelity Management & Research Company (FMR) and the sub-advisory agreements (together, the Advisory Contracts) for the fund, including the fund's sub-advisory agreement with Geode Capital Management, LLC (Geode). The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, requests and considers a broad range of information relevant to the renewal of the Advisory Contracts throughout the year.

The Board meets regularly and, at each of its meetings, covers an extensive agenda of topics and materials and considers factors that are relevant to its annual consideration of the renewal of the fund's Advisory Contracts, including the services and support provided to the fund and its shareholders. The Board has established four standing committees (Committees) - Operations, Audit, Fair Valuation, and Governance and Nominating - each composed of and chaired by Independent Trustees with varying backgrounds, to which the Board has assigned specific subject matter responsibilities in order to enhance effective decision-making by the Board. The Operations Committee, of which all of the Independent Trustees are members, meets regularly throughout the year and considers, among other matters, information specifically related to the annual consideration of the renewal of the fund's Advisory Contracts. The Board, acting directly and through its Committees, requests and receives information concerning the annual consideration of the renewal of the fund's Advisory Contracts. The Board also meets as needed to consider matters specifically related to the Board's annual consideration of the renewal of the Advisory Contracts. Members of the Board may also meet with trustees of other Fidelity funds through ad hoc joint committees to discuss certain matters relevant to the Fidelity funds.

At its September 2014 meeting, the Board, including the Independent Trustees, unanimously determined to renew the fund's Advisory Contracts. In reaching its determination, the Board considered all factors it believed relevant, including (i) the nature, extent, and quality of the services to be provided to the fund and its shareholders (including the investment performance of the fund); (ii) the competitiveness of the fund's management fee and total expense ratio relative to peer funds; (iii) the total costs of the services to be provided by and the profits to be realized by Fidelity from its relationship with the fund; (iv) the extent to which economies of scale exist and would be realized as the fund grows; and (v) whether fee levels reflect these economies of scale, if any, for the benefit of fund shareholders.

In considering whether to renew the Advisory Contracts for the fund, the Board reached a determination, with the assistance of fund counsel and Independent Trustees' counsel and through the exercise of its business judgment, that the renewal of the Advisory Contracts was in the best interests of the fund and its shareholders and that the compensation payable under the Advisory Contracts was fair and reasonable. The Board's decision to renew the Advisory Contracts was not based on any single factor, but rather was based on a comprehensive consideration of all the information provided to the Board at its meetings throughout the year. The Board, in reaching its determination to renew the Advisory Contracts, was aware that shareholders of the fund have a broad range of investment choices available to them, including a wide choice among funds offered by Fidelity's competitors, and that the fund's shareholders, who have the opportunity to review and weigh the disclosure provided by the fund in its prospectus and other public disclosures, have chosen to invest in this fund, which is part of the Fidelity family of funds.

Annual Report

Nature, Extent, and Quality of Services Provided. The Board considered staffing as it relates to the fund, including the backgrounds of investment personnel of Fidelity and Geode, and also considered the fund's investment objective, strategies, and related investment philosophy. The Independent Trustees also had discussions with senior management of Fidelity's investment operations and investment groups and of Geode. The Board considered the structure of the portfolio manager compensation program and whether this structure provides appropriate incentives to act in the best interests of the fund. Additionally, the Board considered the portfolio managers' investments, if any, in the funds that they manage.

Shareholder and Administrative Services. The Board considered (i) the nature, extent, quality, and cost of advisory, administrative, and shareholder services performed by FMR, the sub-advisers (together with FMR, the Investment Advisers), and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency, pricing and bookkeeping, and securities lending services for the fund; (ii) the nature and extent of the supervision of third party service providers, principally custodians and subcustodians; and (iii) the resources devoted to, and the record of compliance with, the fund's compliance policies and procedures. The Board also reviewed the allocation of fund brokerage, including allocations to brokers affiliated with the Investment Advisers.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Investment Performance. The Board considered whether the fund has operated in accordance with its investment objective, as well as its record of compliance with its investment restrictions and its performance history.

The Board took into account discussions with the Investment Advisers about fund investment performance that occur at Board meetings throughout the year. In this regard the Board noted that as part of regularly scheduled fund reviews and other reports to the Board on fund performance, the Board periodically considers annualized return information for the fund for different time periods, measured against the securities market index the fund seeks to track. The Board also periodically considers the fund's tracking error versus its benchmark index. In its evaluation of fund investment performance at meetings throughout the year, the Board gave particular attention to information indicating underperformance of certain Fidelity funds for specific time periods and the Investment Advisers' explanations for such underperformance.

Annual Report

The Independent Trustees recognize that shareholders evaluate performance on a net basis (after fees and expenses) over their own holding periods, for which one-, three-, and five-year periods are often used as a proxy. For this reason, the performance information reviewed by the Board also included net cumulative calendar year total return information for the fund and its benchmark index for the most recent one- and three-year periods.

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should benefit the fund's shareholders.

Competitiveness of Management Fee and Total Expense Ratio. The Board considered the fund's management fee and total expense ratio compared to "mapped groups" of competitive funds and classes. Fidelity creates "mapped groups" by combining similar Lipper investment objective categories that have comparable investment mandates. Combining Lipper investment objective categories aids the Board's management fee and total expense ratio comparisons by broadening the competitive group used for comparison and by reducing the number of universes to which various Fidelity funds are compared.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month (or shorter) periods shown in the chart below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group." The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than the fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than the fund. The fund's actual TMG %s are in the chart below. The "Asset-Size Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which the fund's management fee rate ranked, is also included in the chart and considered by the Board. Because the vast majority of competitor funds' management fees do not cover non-management expenses, for a more meaningful comparison of management fees, the fund is compared on the basis of a hypothetical "net management fee," which is derived by subtracting payments made by FMR for "fund-level" non-management expenses (including pricing and bookkeeping fees and fees paid to non-affiliated custodians) from the fund's management fee. In this regard, the Board considered that net management fees can vary from year to year because of differences in "fund-level" non-management expenses, and that "fund-level" non-management expenses may exceed the fund's management fee and result in a negative net management fee. The Board noted, however, that FMR does not pay transfer agent fees or other "class-level" expenses under the fund's management contract.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Fidelity Series Global ex U.S. Index Fund

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Annual Report

The Board noted that the fund's hypothetical net management fee rate ranked below the median of its Total Mapped Group and below the median of its ASPG for 2013.

Furthermore, the Board considered that it had approved an amended and restated management contract for the fund (effective September 1, 2011) that lowered the fund's management fee from 0.25% to 0.20%. The Board considered that the chart reflects the fund's lower management fee for 2011, as if the lower fee were in effect for the entire year.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of the fund's total expense ratio, the Board considered the fund's hypothetical net management fee as well as the fund's gross management fee. The Board also considered other "fund-level" expenses, such as pricing and bookkeeping fees and custodial, legal, and audit fees. The Board also considered other "class-level" expenses, such as transfer agent fees. The Board also noted that Fidelity may agree to waive fees and expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of the fund compared to competitive fund median expenses. The fund is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure.

The Board noted that the fund's total expense ratio ranked below its competitive median for 2013.

Based on its review of total expense ratios and fees charged to other Fidelity clients, the Board concluded that the fund's total expense ratio was reasonable in light of the services that the fund and its shareholders receive and the other factors considered.

Costs of the Services and Profitability. The Board considered the revenues earned and the expenses incurred by Fidelity in conducting the business of developing, marketing, distributing, managing, administering and servicing the fund and servicing the fund's shareholders. The Board also considered the level of Fidelity's profits in respect of all the Fidelity funds.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

On an annual basis, Fidelity presents to the Board information about the profitability of its relationship with the fund. Fidelity calculates profitability information for each fund, as well as aggregate profitability information for groups of Fidelity funds and all Fidelity funds, using a series of detailed revenue and cost allocation methodologies which originate with the books and records of Fidelity on which Fidelity's audited financial statements are based. The Audit Committee of the Board reviews any significant changes from the prior year's methodologies.

The Board considered the costs of the services provided by and the profits realized by Fidelity in connection with the operation of the fund and was satisfied that the profitability was not excessive.

Economies of Scale. The Board considered whether there have been economies of scale in respect of the management of the Fidelity funds, whether the Fidelity funds (including the fund) have appropriately benefited from any such economies of scale, and whether there is potential for realization of any further economies of scale. The Board considered the extent to which the fund will benefit from economies of scale as assets grow through increased services to the fund, through waivers or reimbursements, or through fee or expense ratio reductions. The Board also noted that in 2013, it and the boards of other Fidelity funds created an ad hoc committee (the Economies of Scale Committee) to analyze whether Fidelity attains economies of scale in respect of the management and servicing of the Fidelity funds, whether the Fidelity funds have appropriately benefited from such economies of scale, and whether there is potential for realization of any further economies of scale.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Annual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

Geode Capital Management, LLC

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL

(Fidelity Investment logo)(registered trademark)
Corporate Headquarters
245 Summer St., Boston, MA 02210
www.fidelity.com

SGX-ANN-1214
1.899279.105

Item 2. Code of Ethics

As of the end of the period, October 31, 2014, Fidelity Salem Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

Item 3. Audit Committee Financial Expert

The Board of Trustees of the trust has determined that James H. Keyes is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Keyes is independent for purposes of Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services

Fees and Services

The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, "Deloitte Entities") in each of the last two fiscal years for services rendered to Fidelity Series Global ex U.S. Index Fund, Spartan Emerging Markets Index Fund and Spartan Global ex U.S. Index Fund (the "Funds"):

Services Billed by Deloitte Entities

October 31, 2014 Fees^A

	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Series Global ex U.S. Index Fund	$44,000	$-	$5,800	$1,100
Spartan Emerging Markets Index Fund	$45,000	$-	$6,900	$700
Spartan Global ex U.S. Index Fund	$55,000	$-	$6,100	$700

October 31, 2013 Fees^A

	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Series Global ex U.S. Index Fund	$44,000	$-	$5,800	$700
Spartan Emerging Markets Index Fund	$45,000	$-	$6,900	$500
Spartan Global ex U.S. Index Fund	$46,000	$-	$5,800	$500

^AAmounts may reflect rounding.

The following table presents fees billed by Deloitte Entities that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Funds and that are rendered on behalf of Fidelity Management & Research Company ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Funds ("Fund Service Providers"):

Services Billed by Deloitte Entities

	October 31, 2014^A	October 31, 2013^A
Audit-Related Fees	$150,000	$1,010,000
Tax Fees	$-	$-
All Other Fees	$590,000	$800,000

^A Amounts may reflect rounding.

"Audit-Related Fees" represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.

"Tax Fees" represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.

"All Other Fees" represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.

Assurance services must be performed by an independent public accountant.

* * *

The aggregate non-audit fees billed by Deloitte Entities for services rendered to the Funds, FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Funds are as follows:

Billed By	October 31, 2014^A	October 31, 2013^A
Deloitte Entities	$1,845,000	$1,940,000

^A Amounts may reflect rounding.

The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities in its audit of the Funds, taking into account representations from Deloitte Entities, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Funds and their related entities and FMR's review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund Service Providers.

Audit Committee Pre-Approval Policies and Procedures

The trust's Audit Committee must pre-approve all audit and non-audit services provided by a fund's independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund ("Covered Service") are subject to approval by the Audit Committee before such service is provided.

All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair's absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.

Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee on a periodic basis.

Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X ("De Minimis Exception")

There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Funds' last two fiscal years relating to services provided to (i) the Funds or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Funds.

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 trust's Board of Trustees.

Item 11. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust's 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 trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust's internal control over financial reporting.

Item 12. Exhibits

(a)	(1)	Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.
(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/ Stephanie J. Dorsey
	Stephanie J. Dorsey
	President and Treasurer

Date:	December 26, 2014

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/Stephanie J. Dorsey
	Stephanie J. Dorsey
	President and Treasurer

Date:	December 26, 2014
By:	/s/Howard J. Galligan III
	Howard J. Galligan III
	Chief Financial Officer

Date:	December 26, 2014

Contents

Shareholder Expense Example

Performance: The Bottom Line

Management's Discussion of Fund Performance

Investment Changes (Unaudited)

Investments October 31, 2014

Statement of Assets and Liabilities

Statement of Assets and Liabilities - continued

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights - Investor Class

Financial Highlights - Fidelity Advantage Class

Financial Highlights - Institutional Class

Financial Highlights - Fidelity Advantage Institutional Class

Performance: The Bottom Line

Management's Discussion of Fund Performance

Investment Changes (Unaudited)

Investments October 31, 2014

Statement of Assets and Liabilities

Statement of Assets and Liabilities - continued

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights - Investor Class

Financial Highlights - Fidelity Advantage Class

Financial Highlights - Institutional Class

Financial Highlights - Fidelity Advantage Institutional Class

Notes to Shareholders

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Board Approval of Investment Advisory Contracts and Management Fees

Contents

Shareholder Expense Example

Performance: The Bottom Line

Management's Discussion of Fund Performance

Investment Changes (Unaudited)

Investments October 31, 2014

Statement of Assets and Liabilities

Statement of Assets and Liabilities - continued

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights - Investor Class

Financial Highlights - Fidelity Advantage Class

Financial Highlights - Institutional Class

Financial Highlights - Fidelity Advantage Institutional Class

Performance: The Bottom Line

Management's Discussion of Fund Performance

Investment Changes (Unaudited)

Investments October 31, 2014

Statement of Assets and Liabilities

Statement of Assets and Liabilities - continued

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights - Investor Class

Financial Highlights - Fidelity Advantage Class

Financial Highlights - Institutional Class

Financial Highlights - Fidelity Advantage Institutional Class

Notes to Shareholders

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Board Approval of Investment Advisory Contracts and Management Fees

Contents

Performance: The Bottom Line

Management's Discussion of Fund Performance

Shareholder Expense Example

Investment Changes (Unaudited)

Investments October 31, 2014

Statement of Assets and Liabilities

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Board Approval of Investment Advisory Contracts and Management Fees