N-CSRS 1 filing836.htm PRIMARY DOCUMENT

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES


Investment Company Act file number   811-2105


Fidelity Salem Street Trust

(Exact name of registrant as specified in charter)


245 Summer St., Boston, MA 02210

(Address of principal executive offices)       (Zip code)


Marc Bryant, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)



Registrant's telephone number, including area code:

617-563-7000



Date of fiscal year end:

October 31



Date of reporting period:

April 30, 2018


Item 1.

Reports to Stockholders




Fidelity® Series Global ex U.S. Index Fund



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


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.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 16.4% 
   United Kingdom 11.0% 
   France 7.0% 
   Germany 6.5% 
   Canada 6.2% 
   Switzerland 5.1% 
   Cayman Islands 4.4% 
   Australia 4.4% 
   Korea (South) 3.8% 
   Other* 35.2% 


 * 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.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 1.3 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.1 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 1.1 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 0.9 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.9 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 0.9 
Novartis AG (Switzerland, Pharmaceuticals) 0.8 
Toyota Motor Corp. (Japan, Automobiles) 0.8 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.7 
Total SA (France, Oil, Gas & Consumable Fuels) 0.7 
 9.2 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 23.9 
Industrials 10.2 
Information Technology 11.5 
Consumer Discretionary 11.0 
Consumer Staples 9.0 
Materials 7.8 
Health Care 7.3 
Energy 7.2 
Telecommunication Services 4.2 
Real Estate 2.8 

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.3%   
 Shares Value 
Australia - 4.4%   
AGL Energy Ltd. 166,551 $2,714,356 
Alumina Ltd. 616,448 1,213,400 
Amcor Ltd. 299,833 3,089,771 
AMP Ltd. 739,970 2,240,014 
APA Group unit 306,167 1,916,670 
Aristocrat Leisure Ltd. 139,389 2,796,224 
ASX Ltd. 49,602 2,180,643 
Aurizon Holdings Ltd. 521,385 1,754,587 
Australia & New Zealand Banking Group Ltd. 754,002 15,157,102 
Bank of Queensland Ltd. 96,866 729,818 
Bendigo & Adelaide Bank Ltd. 127,052 1,011,234 
BHP Billiton Ltd. 824,491 19,234,757 
BlueScope Steel Ltd. 142,522 1,751,518 
Boral Ltd. 303,107 1,559,877 
Brambles Ltd. 412,489 3,052,081 
Caltex Australia Ltd. 67,511 1,569,954 
Challenger Ltd. 151,758 1,226,959 
Cimic Group Ltd. 24,087 819,651 
Coca-Cola Amatil Ltd. 137,330 958,580 
Cochlear Ltd. 14,827 2,157,768 
Commonwealth Bank of Australia 449,983 24,229,079 
Computershare Ltd. 120,181 1,528,888 
Crown Ltd. 93,484 907,349 
CSL Ltd. 116,125 14,874,341 
DEXUS Property Group unit 264,128 1,878,360 
Dominos Pizza Enterprises Ltd. 15,261 483,120 
Flight Centre Travel Group Ltd. (a) 14,105 590,882 
Fortescue Metals Group Ltd. 408,114 1,384,676 
Goodman Group unit 466,932 3,176,791 
Harvey Norman Holdings Ltd. (a) 142,796 376,408 
Healthscope Ltd. 441,159 803,763 
Incitec Pivot Ltd. 422,331 1,201,836 
Insurance Australia Group Ltd. 610,405 3,613,548 
Lendlease Group unit 143,390 1,923,056 
Macquarie Group Ltd. 82,881 6,749,685 
Medibank Private Ltd. 715,095 1,571,606 
Mirvac Group unit 961,154 1,612,989 
National Australia Bank Ltd. 689,548 14,990,116 
Newcrest Mining Ltd. 194,762 3,086,970 
Orica Ltd. 94,401 1,406,491 
Origin Energy Ltd. (b) 456,211 3,330,697 
QBE Insurance Group Ltd. 351,189 2,622,883 
Ramsay Health Care Ltd. 36,960 1,796,837 
realestate.com.au Ltd. 12,985 786,135 
Rio Tinto Ltd. 105,899 6,302,491 
Santos Ltd. (b) 483,599 2,227,368 
Scentre Group unit 1,366,603 4,130,575 
SEEK Ltd. 83,051 1,208,047 
Sonic Healthcare Ltd. 104,672 1,855,859 
South32 Ltd. 1,341,249 3,721,995 
SP AusNet 477,741 616,708 
Stockland Corp. Ltd. unit 614,250 1,909,341 
Suncorp Group Ltd. 334,502 3,518,194 
Sydney Airport unit 287,312 1,538,293 
Tabcorp Holdings Ltd. 495,714 1,630,080 
Telstra Corp. Ltd. 1,068,479 2,540,442 
The GPT Group unit 465,487 1,687,908 
TPG Telecom Ltd. 95,397 400,150 
Transurban Group unit 570,905 4,974,699 
Treasury Wine Estates Ltd. 184,959 2,641,954 
Vicinity Centers unit 861,917 1,578,149 
Wesfarmers Ltd. 291,247 9,581,907 
Westfield Corp. unit (b) 510,477 3,527,488 
Westpac Banking Corp. 871,375 18,717,539 
Woodside Petroleum Ltd. 240,602 5,830,631 
Woolworths Group Ltd. 335,264 7,012,307 
TOTAL AUSTRALIA  249,213,595 
Austria - 0.2%   
Andritz AG 18,428 991,623 
Erste Group Bank AG 77,430 3,796,281 
IMMOFINANZ Immobilien Anlagen AG 81 213 
OMV AG 37,869 2,355,126 
Raiffeisen International Bank-Holding AG 38,833 1,313,052 
Voestalpine AG 29,805 1,573,233 
TOTAL AUSTRIA  10,029,528 
Bailiwick of Jersey - 0.8%   
Experian PLC 237,480 5,441,189 
Glencore Xstrata PLC 3,142,666 15,173,065 
Randgold Resources Ltd. 24,443 1,981,927 
Shire PLC 233,460 12,431,729 
Wolseley PLC 64,330 4,941,822 
WPP PLC 324,879 5,574,966 
TOTAL BAILIWICK OF JERSEY  45,544,698 
Belgium - 0.7%   
Ageas 48,518 2,604,340 
Anheuser-Busch InBev SA NV 195,682 19,547,198 
Colruyt NV 15,882 895,281 
Groupe Bruxelles Lambert SA 20,682 2,371,681 
KBC Groep NV 64,493 5,638,638 
Proximus 38,941 1,195,850 
Solvay SA Class A 19,118 2,668,845 
Telenet Group Holding NV (b) 13,040 764,679 
UCB SA 32,710 2,479,057 
Umicore SA 53,151 2,969,205 
TOTAL BELGIUM  41,134,774 
Bermuda - 0.5%   
Alibaba Health Information Technology Ltd. (a)(b) 824,000 414,369 
Alibaba Pictures Group Ltd. (b) 3,210,000 361,595 
Beijing Enterprises Water Group Ltd. 1,506,000 874,358 
Brilliance China Automotive Holdings Ltd. 790,000 1,406,608 
Cheung Kong Infrastructure Holdings Ltd. 165,500 1,306,194 
China Gas Holdings Ltd. 443,200 1,570,559 
China Resource Gas Group Ltd. 220,000 809,073 
Cosco Shipping Ports Ltd. 393,514 346,086 
Credicorp Ltd. (United States) 17,498 4,068,110 
GOME Electrical Appliances Holdings Ltd. (a) 2,586,418 278,212 
Haier Electronics Group Co. Ltd. 329,000 1,138,266 
Hanergy Thin Film Power Group Ltd. (b)(c) 1,902,000 
Hongkong Land Holdings Ltd. 305,865 2,210,560 
Jardine Matheson Holdings Ltd. 56,322 3,410,507 
Jardine Strategic Holdings Ltd. 57,600 2,179,892 
Kerry Properties Ltd. 160,000 764,884 
Kingston Financial Group Ltd. (a) 1,008,000 512,452 
Kunlun Energy Co. Ltd. 798,000 683,261 
Li & Fung Ltd. 1,478,000 743,320 
Nine Dragons Paper (Holdings) Ltd. 405,000 604,041 
NWS Holdings Ltd. 419,515 827,205 
Shangri-La Asia Ltd. 312,000 607,188 
Sihuan Pharmaceutical Holdings Group Ltd. 980,000 236,854 
Yue Yuen Industrial (Holdings) Ltd. 185,500 525,701 
TOTAL BERMUDA  25,879,297 
Brazil - 1.1%   
Ambev SA 1,172,430 7,807,945 
Atacadao Distribuicao Comercio e Industria Ltda 100,600 433,621 
Banco Bradesco SA 261,983 2,385,607 
Banco do Brasil SA 222,200 2,327,797 
Banco Santander SA (Brasil) unit 107,700 1,171,628 
BB Seguridade Participacoes SA 175,600 1,377,451 
BM&F BOVESPA SA 531,025 3,835,046 
BR Malls Participacoes SA 208,730 650,643 
Brasil Foods SA (b) 104,800 741,905 
CCR SA 320,300 1,093,511 
Centrais Eletricas Brasileiras SA (Electrobras) (b) 62,100 338,047 
Cielo SA 318,214 1,744,037 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 91,200 915,332 
Companhia Energetica de Minas Gerais (CEMIG) 1,727 3,796 
Companhia Siderurgica Nacional SA (CSN) (b) 159,600 400,002 
Cosan SA Industria e Comercio 41,300 468,975 
Drogasil SA 57,900 1,136,778 
EDP Energias do Brasil SA 70,280 278,656 
Embraer SA 174,500 1,102,829 
ENGIE Brasil Energia SA 39,600 418,133 
Equatorial Energia SA 51,300 1,041,903 
Fibria Celulose SA 65,095 1,278,599 
Hypermarcas SA 86,600 778,688 
Itausa-Investimentos Itau SA 22,895 88,229 
JBS SA 203,400 508,036 
Klabin SA unit 155,500 942,357 
Kroton Educacional SA 363,292 1,452,878 
Localiza Rent A Car SA 126,054 1,003,553 
Lojas Renner SA 182,330 1,697,243 
M. Dias Branco SA 23,800 298,927 
Multiplan Empreendimentos Imobiliarios SA 21,352 405,439 
Natura Cosmeticos SA 42,800 393,522 
Odontoprev SA 68,200 292,603 
Petroleo Brasileiro SA - Petrobras (ON) (b) 750,111 5,273,816 
Porto Seguro SA 29,300 378,043 
Qualicorp SA 56,100 389,939 
Rumo SA (b) 289,000 1,225,066 
Sul America SA unit 51,437 317,443 
Suzano Papel e Celulose SA 112,900 1,323,268 
Terna Participacoes SA unit 59,100 359,168 
TIM Participacoes SA 224,203 1,020,792 
Ultrapar Participacoes SA 94,300 1,627,208 
Vale SA 781,886 10,862,752 
Vale SA sponsored ADR (a) 32,996 456,665 
Weg SA 183,066 929,126 
TOTAL BRAZIL  62,977,002 
British Virgin Islands - 0.0%   
First Pacific Co. Ltd. 542,078 277,582 
Canada - 6.1%   
Agnico Eagle Mines Ltd. (Canada) 59,904 2,520,825 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 111,269 4,810,578 
AltaGas Ltd. (a) 45,877 884,346 
ARC Resources Ltd. 91,461 1,020,072 
ATCO Ltd. Class I (non-vtg.) 19,038 576,055 
Bank of Montreal 166,662 12,657,200 
Bank of Nova Scotia 307,867 18,923,528 
Barrick Gold Corp. 300,734 4,047,419 
BCE, Inc. 38,812 1,647,156 
BlackBerry Ltd. (b) 126,051 1,319,464 
Bombardier, Inc. Class B (sub. vtg.) (b) 527,913 1,632,318 
Brookfield Asset Management, Inc. Class A 215,740 8,550,963 
CAE, Inc. 70,119 1,325,432 
Cameco Corp. 97,854 1,030,403 
Canadian Imperial Bank of Commerce 112,066 9,760,770 
Canadian National Railway Co. 191,591 14,798,146 
Canadian Natural Resources Ltd. 281,790 10,165,904 
Canadian Pacific Railway Ltd. 37,248 6,796,574 
Canadian Tire Ltd. Class A (non-vtg.) 16,648 2,268,832 
Canadian Utilities Ltd. Class A (non-vtg.) 33,525 853,824 
CCL Industries, Inc. Class B 36,192 1,755,549 
Cenovus Energy, Inc. 268,824 2,692,532 
CGI Group, Inc. Class A (sub. vtg.) (b) 65,521 3,796,692 
CI Financial Corp. 70,823 1,490,430 
Constellation Software, Inc. 5,196 3,713,545 
Crescent Point Energy Corp. 141,474 1,239,599 
Dollarama, Inc. 27,494 3,164,931 
Element Financial Corp. 95,271 359,877 
Emera, Inc. 14,430 449,438 
Empire Co. Ltd. Class A (non-vtg.) 43,098 833,462 
Enbridge, Inc. 424,990 12,872,667 
Encana Corp. 250,638 3,121,384 
Fairfax Financial Holdings Ltd. (sub. vtg.) 7,204 3,988,332 
Finning International, Inc. 43,783 1,104,507 
First Capital Realty, Inc. 38,728 605,375 
First Quantum Minerals Ltd. 177,305 2,554,728 
Fortis, Inc. 108,268 3,634,371 
Franco-Nevada Corp. 48,110 3,412,421 
George Weston Ltd. 12,860 1,053,580 
Gildan Activewear, Inc. 56,118 1,634,653 
Goldcorp, Inc. 223,442 2,965,421 
Great-West Lifeco, Inc. 77,449 2,064,784 
H&R REIT/H&R Finance Trust 34,987 561,885 
Husky Energy, Inc. 92,018 1,287,155 
Hydro One Ltd. (d) 77,948 1,237,867 
IGM Financial, Inc. 20,358 624,875 
Imperial Oil Ltd. 74,639 2,321,224 
Industrial Alliance Insurance and Financial Services, Inc. 26,657 1,119,679 
Intact Financial Corp. 35,892 2,736,732 
Inter Pipeline Ltd. 95,174 1,716,016 
Jean Coutu Group, Inc. Class A (sub. vtg.) 21,753 416,610 
Keyera Corp. 52,770 1,420,818 
Kinross Gold Corp. (b) 320,283 1,239,773 
Linamar Corp. 11,947 669,486 
Loblaw Companies Ltd. 55,530 2,824,182 
Lundin Mining Corp. 172,482 1,141,865 
Magna International, Inc. Class A (sub. vtg.) 88,251 5,212,098 
Manulife Financial Corp. 507,966 9,586,056 
Methanex Corp. 21,095 1,271,500 
Metro, Inc. Class A (sub. vtg.) 59,395 1,884,616 
National Bank of Canada 87,849 4,172,306 
Nutrien Ltd. 165,490 7,533,697 
Onex Corp. (sub. vtg.) 21,156 1,566,989 
Open Text Corp. 68,442 2,416,353 
Pembina Pipeline Corp. 129,812 4,134,127 
Power Corp. of Canada (sub. vtg.) 91,754 2,180,314 
Power Financial Corp. 62,514 1,621,824 
PrairieSky Royalty Ltd. 54,809 1,215,322 
Restaurant Brands International, Inc. 58,422 3,179,209 
RioCan (REIT) 39,486 718,095 
Rogers Communications, Inc. Class B (non-vtg.) 93,091 4,394,443 
Royal Bank of Canada 373,971 28,439,214 
Saputo, Inc. 55,103 1,786,626 
Seven Generations Energy Ltd. (b) 61,213 873,416 
Shaw Communications, Inc. Class B 110,683 2,274,952 
Shopify, Inc. Class A (b) 22,456 3,008,417 
Smart (REIT) 16,798 376,792 
SNC-Lavalin Group, Inc. 45,445 1,992,367 
Sun Life Financial, Inc. 157,052 6,482,928 
Suncor Energy, Inc. 424,988 16,252,121 
Teck Resources Ltd. Class B (sub. vtg.) 146,877 3,686,939 
TELUS Corp. (b) 50,374 1,802,785 
The Toronto-Dominion Bank 474,332 26,639,729 
Thomson Reuters Corp. 73,140 2,941,094 
Tourmaline Oil Corp. 60,383 1,135,753 
TransCanada Corp. 223,944 9,495,316 
Turquoise Hill Resources Ltd. (b) 251,366 743,947 
Valeant Pharmaceuticals International, Inc. (Canada) (b) 83,300 1,505,231 
Vermilion Energy, Inc. 30,368 1,026,497 
West Fraser Timber Co. Ltd. 17,615 1,193,175 
Wheaton Precious Metals Corp. 114,417 2,374,869 
TOTAL CANADA  348,535,371 
Cayman Islands - 4.4%   
3SBio, Inc. (d) 247,500 531,795 
58.com, Inc. ADR (b) 23,723 2,073,153 
AAC Technology Holdings, Inc. 189,500 2,719,850 
Agile Property Holdings Ltd. 392,000 773,257 
Airtac International Group 33,000 571,583 
Alibaba Group Holding Ltd. sponsored ADR (a)(b) 296,060 52,858,552 
Anta Sports Products Ltd. 279,000 1,592,028 
ASM Pacific Technology Ltd. 76,000 1,041,454 
Autohome, Inc. ADR Class A 13,939 1,359,749 
Baidu.com, Inc. sponsored ADR (b) 70,722 17,744,150 
Chailease Holding Co. Ltd. 316,977 1,154,514 
Cheung Kong Property Holdings Ltd. 667,116 5,759,190 
China Conch Venture Holdings Ltd. 424,000 1,316,332 
China Huishan Dairy Holdings Co. Ltd. (b)(c) 894,000 23,920 
China Medical System Holdings Ltd. 363,000 888,906 
China Mengniu Dairy Co. Ltd. 708,000 2,282,444 
China Resources Land Ltd. 714,465 2,683,337 
China State Construction International Holdings Ltd. 493,750 642,148 
CIFI Holdings Group Co. Ltd. 866,000 681,930 
CK Hutchison Holdings Ltd. 697,116 8,243,297 
Country Garden Holdings Co. Ltd. 1,352,537 2,757,912 
Ctrip.com International Ltd. ADR (b) 101,287 4,142,638 
ENN Energy Holdings Ltd. 199,000 1,860,955 
Evergrande Real Estate Group Ltd. (a)(b) 846,000 2,679,769 
Fullshare Holdings Ltd. (a) 1,710,000 932,455 
GCL-Poly Energy Holdings Ltd. (a)(b) 3,207,000 396,690 
Geely Automobile Holdings Ltd. 1,271,000 3,342,771 
General Interface Solution Holding Ltd. 39,000 233,043 
Haitian International Holdings Ltd. 160,000 425,808 
Hengan International Group Co. Ltd. 188,500 1,676,395 
JD.com, Inc. sponsored ADR (b) 168,857 6,164,969 
Kingboard Chemical Holdings Ltd. 159,500 648,893 
Kingsoft Corp. Ltd. 194,000 576,059 
Lee & Man Paper Manufacturing Ltd. 386,000 425,171 
Longfor Properties Co. Ltd. 370,000 1,106,572 
Meitu, Inc. (b)(d) 301,000 317,425 
Melco Crown Entertainment Ltd. sponsored ADR 63,590 1,984,644 
MGM China Holdings Ltd. 238,800 654,878 
Minth Group Ltd. 184,000 873,654 
Momo, Inc. ADR (b) 26,691 931,516 
NetEase, Inc. ADR 20,377 5,238,315 
New Oriental Education & Technology Group, Inc. sponsored ADR 34,888 3,134,338 
Nexteer Auto Group Ltd. 206,000 316,946 
Sands China Ltd. 625,600 3,615,581 
Semiconductor Manufacturing International Corp. (a)(b) 739,500 951,066 
Shenzhou International Group Holdings Ltd. 194,000 2,117,750 
Shimao Property Holdings Ltd. 315,000 833,196 
SINA Corp. (b) 14,997 1,432,813 
Sino Biopharmaceutical Ltd. 1,144,000 2,409,046 
SOHO China Ltd. 537,500 275,999 
Sunac China Holdings Ltd. 621,000 2,637,839 
Sunny Optical Technology Group Co. Ltd. 184,200 3,005,709 
TAL Education Group ADR 82,240 2,995,181 
Tencent Holdings Ltd. 1,463,900 71,969,607 
Tingyi (Cayman Islands) Holding Corp. 518,000 975,185 
Vipshop Holdings Ltd. ADR (b) 105,177 1,628,140 
Want Want China Holdings Ltd. 1,315,000 1,162,027 
Weibo Corp. sponsored ADR (a)(b) 12,077 1,383,058 
WH Group Ltd. (d) 2,237,500 2,316,429 
Wharf Real Estate Investment Co. Ltd. 315,000 2,361,791 
Wynn Macau Ltd. 390,800 1,444,147 
YY, Inc. ADR (b) 11,008 1,061,061 
Zhen Ding Technology Holding Ltd. 125,230 272,014 
TOTAL CAYMAN ISLANDS  250,611,044 
Chile - 0.3%   
AES Gener SA 658,502 184,659 
Aguas Andinas SA 646,953 430,335 
Banco de Chile 6,288,634 1,038,912 
Banco de Credito e Inversiones 11,078 838,472 
Banco Santander Chile 16,742,811 1,397,600 
Cencosud SA 368,589 1,096,044 
Colbun SA 1,982,626 492,941 
Compania Cervecerias Unidas SA 37,405 518,155 
Compania de Petroleos de Chile SA (COPEC) 109,169 1,779,852 
CorpBanca SA 37,083,029 379,077 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 36,276 428,137 
Empresas CMPC SA 328,456 1,348,396 
Enel Chile SA 7,246,938 898,069 
Enersis SA 7,245,149 1,653,712 
LATAM Airlines Group SA 79,386 1,217,789 
S.A.C.I. Falabella 187,067 1,814,369 
TOTAL CHILE  15,516,519 
China - 2.4%   
Agricultural Bank of China Ltd. (H Shares) 6,726,000 3,792,203 
Air China Ltd. (H Shares) 456,000 601,144 
Aluminum Corp. of China Ltd. (H Shares) (b) 984,000 555,751 
Anhui Conch Cement Co. Ltd. (H Shares) 318,500 1,987,912 
AviChina Industry & Technology Co. Ltd. (H Shares) 553,000 348,668 
Bank Communications Co. Ltd. (H Shares) 2,287,200 1,871,582 
Bank of China Ltd. (H Shares) 20,431,024 11,090,598 
Beijing Capital International Airport Co. Ltd. (H Shares) 438,000 596,544 
BYD Co. Ltd. (H Shares) (a) 168,000 1,174,500 
CGN Power Co. Ltd. (H Shares) (d) 2,649,000 722,393 
China Cinda Asset Management Co. Ltd. (H Shares) 2,464,000 879,420 
China CITIC Bank Corp. Ltd. (H Shares) 2,316,293 1,655,798 
China Communications Construction Co. Ltd. (H Shares) 1,109,000 1,277,767 
China Communications Services Corp. Ltd. (H Shares) 610,000 382,970 
China Construction Bank Corp. (H Shares) 21,627,649 22,658,402 
China Everbright Bank Co. Ltd. (H Shares) 642,000 320,833 
China Galaxy Securities Co. Ltd. (H Shares) 822,500 540,247 
China Huarong Asset Management Co. Ltd. 2,487,000 856,543 
China Life Insurance Co. Ltd. (H Shares) 1,915,000 5,430,864 
China Longyuan Power Grid Corp. Ltd. (H Shares) 786,000 772,025 
China Merchants Bank Co. Ltd. (H Shares) 1,003,191 4,374,314 
China Minsheng Banking Corp. Ltd. (H Shares) 1,464,860 1,370,817 
China Molybdenum Co. Ltd. (H Shares) 930,000 698,865 
China National Building Materials Co. Ltd. (H Shares) 962,000 1,123,899 
China Oilfield Services Ltd. (H Shares) 434,000 433,000 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 678,600 2,994,444 
China Petroleum & Chemical Corp. (H Shares) 6,563,800 6,392,218 
China Railway Construction Corp. Ltd. (H Shares) 503,500 596,259 
China Railway Group Ltd. (H Shares) 992,000 795,115 
China Shenhua Energy Co. Ltd. (H Shares) 875,500 2,147,477 
China Southern Airlines Ltd. (H Shares) 460,000 495,310 
China Telecom Corp. Ltd. (H Shares) 3,620,000 1,754,730 
China Vanke Co. Ltd. (H Shares) 310,300 1,282,423 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 622,000 475,814 
CITIC Securities Co. Ltd. (H Shares) 587,500 1,432,168 
CRRC Corp. Ltd. (H Shares) 1,103,800 975,626 
Dongfeng Motor Group Co. Ltd. (H Shares) 674,000 745,332 
Fuyao Glass Industries Group Co. Ltd. 126,000 433,071 
GF Securities Co. Ltd. (H Shares) 337,000 593,321 
Great Wall Motor Co. Ltd. (H Shares) 832,000 862,951 
Guangzhou Automobile Group Co. Ltd. (H Shares) 527,376 966,003 
Guangzhou R&F Properties Co. Ltd. (H Shares) 238,800 567,770 
Haitong Securities Co. Ltd. (H Shares) 816,800 1,115,266 
Huaneng Power International, Inc. (H Shares) 1,068,000 705,842 
Huaneng Renewables Corp. Ltd. (H Shares) 1,206,000 535,588 
Huatai Securities Co. Ltd. (H Shares) (d) 434,000 879,105 
Industrial & Commercial Bank of China Ltd. (H Shares) 18,956,008 16,641,131 
Jiangsu Expressway Co. Ltd. (H Shares) 300,000 411,337 
Jiangxi Copper Co. Ltd. (H Shares) 311,000 442,148 
New China Life Insurance Co. Ltd. (H Shares) 206,900 964,651 
People's Insurance Co. of China Group (H Shares) 1,854,000 872,836 
PetroChina Co. Ltd. (H Shares) 5,442,000 4,010,043 
PICC Property & Casualty Co. Ltd. (H Shares) 1,189,334 2,129,109 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 1,339,000 13,083,904 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 472,000 290,062 
Shanghai Electric Group Co. Ltd. (H Shares) (b) 680,000 246,884 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 130,000 705,164 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 258,410 369,605 
Shanghai Pharma Holding Co. Ltd. (H Shares) 237,400 648,024 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 874,000 580,344 
Sinopharm Group Co. Ltd. (H Shares) 305,200 1,286,944 
TravelSky Technology Ltd. (H Shares) 252,000 736,099 
Tsingtao Brewery Co. Ltd. (H Shares) 88,000 455,611 
Weichai Power Co. Ltd. (H Shares) 492,800 570,489 
Yanzhou Coal Mining Co. Ltd. (H Shares) 456,000 570,603 
Zhejiang Expressway Co. Ltd. (H Shares) 362,000 371,745 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 135,400 717,874 
Zijin Mng Group Co. Ltd. (H Shares) 1,395,000 632,770 
ZTE Corp. (H Shares) (c) 180,536 407,957 
TOTAL CHINA  139,408,226 
Colombia - 0.1%   
Bancolombia SA 61,355 725,176 
Cementos Argos SA 117,245 414,475 
Ecopetrol SA 1,273,743 1,405,720 
Grupo de Inversiones Suramerica SA (b) 60,244 836,009 
Interconexion Electrica SA ESP 99,060 510,649 
Inversiones Argos SA 70,229 500,036 
TOTAL COLOMBIA  4,392,065 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 43,017 1,100,057 
Komercni Banka A/S 18,912 816,459 
MONETA Money Bank A/S (d) 117,420 422,710 
Telefonica Czech Rep A/S 13,570 185,675 
TOTAL CZECH REPUBLIC  2,524,901 
Denmark - 1.1%   
A.P. Moller - Maersk A/S:   
Series A 1,029 1,578,599 
Series B 1,631 2,631,933 
Carlsberg A/S Series B 27,653 3,098,900 
Christian Hansen Holding A/S 25,441 2,314,130 
Coloplast A/S Series B 30,205 2,558,776 
Danske Bank A/S 192,379 6,716,443 
DONG Energy A/S (d) 49,046 3,236,239 
DSV de Sammensluttede Vognmaend A/S 48,787 3,877,055 
Genmab A/S (b) 15,100 3,064,201 
H Lundbeck A/S 17,423 1,013,802 
ISS Holdings A/S 43,663 1,528,633 
Novo Nordisk A/S Series B 478,640 22,509,457 
Novozymes A/S Series B 58,766 2,762,759 
Pandora A/S 27,443 3,057,575 
Tryg A/S 30,557 725,578 
Vestas Wind Systems A/S 55,539 3,592,920 
William Demant Holding A/S (b) 29,342 1,147,104 
TOTAL DENMARK  65,414,104 
Egypt - 0.0%   
Commercial International Bank SAE 199,584 1,065,465 
Commercial International Bank SAE sponsored GDR 61,969 317,901 
Eastern Tobacco Co. 27,600 322,039 
Global Telecom Holding (b) 567,338 162,923 
TOTAL EGYPT  1,868,328 
Finland - 0.7%   
Elisa Corp. (A Shares) 36,174 1,604,066 
Fortum Corp. 113,741 2,624,828 
Kone Oyj (B Shares) 86,831 4,326,405 
Metso Corp. 29,945 1,070,021 
Neste Oyj 33,000 2,785,571 
Nokia Corp. 1,501,761 9,010,892 
Nokian Tyres PLC 29,150 1,170,451 
Orion Oyj (B Shares) 27,330 831,033 
Sampo Oyj (A Shares) 114,627 6,194,455 
Stora Enso Oyj (R Shares) 140,956 2,797,540 
UPM-Kymmene Corp. 136,615 4,896,496 
Wartsila Corp. 114,042 2,430,707 
TOTAL FINLAND  39,742,465 
France - 6.9%   
Accor SA 47,749 2,702,604 
Aeroports de Paris 7,468 1,644,948 
Air Liquide SA 73,378 9,537,406 
Alstom SA 39,060 1,778,738 
Amundi SA (d) 15,580 1,326,039 
Arkema SA 17,558 2,300,530 
Atos Origin SA 24,509 3,311,912 
AXA SA 498,634 14,260,262 
BIC SA 7,034 717,340 
bioMerieux SA 10,335 818,724 
BNP Paribas SA 288,650 22,301,748 
Bollore SA (b) 1,063 5,248 
Bollore SA 218,125 1,084,713 
Bouygues SA 55,642 2,838,916 
Bureau Veritas SA 69,242 1,810,300 
Capgemini SA 41,327 5,689,339 
Carrefour SA 151,080 3,107,937 
Casino Guichard Perrachon SA 13,708 711,150 
CNP Assurances 43,287 1,110,287 
Compagnie de St. Gobain 128,602 6,754,764 
Credit Agricole SA 292,926 4,823,210 
Danone SA 155,139 12,567,161 
Dassault Aviation SA 644 1,287,084 
Dassault Systemes SA 33,255 4,307,025 
Edenred SA 57,800 1,989,279 
EDF SA (b) 23,260 327,234 
EDF SA 125,059 1,759,398 
Eiffage SA 18,985 2,262,824 
ENGIE 467,466 8,213,649 
Essilor International SA 53,401 7,290,261 
Eurazeo SA 11,331 996,145 
Eutelsat Communications 45,829 992,855 
Faurecia SA 19,357 1,584,860 
Fonciere des Regions 8,482 949,001 
Gecina SA 12,390 2,148,567 
Groupe Eurotunnel SA 121,060 1,708,985 
Hermes International SCA 8,104 5,243,548 
ICADE 8,290 824,406 
Iliad SA 6,837 1,370,143 
Imerys SA 8,825 805,674 
Ingenico SA 15,506 1,355,693 
Ipsen SA 9,645 1,566,562 
JCDecaux SA 18,425 659,046 
Kering SA 19,445 11,261,863 
Klepierre SA 56,624 2,319,421 
L'Oreal SA 41,653 10,002,187 
L'Oreal SA (b) 23,031 5,530,463 
Lagardere S.C.A. (Reg.) 31,059 888,162 
Legrand SA 68,677 5,349,265 
LVMH Moet Hennessy - Louis Vuitton SA 71,583 24,911,754 
Michelin CGDE Series B 44,163 6,215,756 
Natixis SA 242,691 1,996,418 
Orange SA 511,343 9,296,027 
Pernod Ricard SA 54,505 9,053,574 
Peugeot Citroen SA 151,167 3,727,656 
Publicis Groupe SA 53,421 3,999,694 
Remy Cointreau SA 6,046 833,061 
Renault SA 49,379 5,357,166 
Rexel SA 79,872 1,239,427 
Safran SA 85,653 10,046,255 
Sanofi SA 292,257 23,106,518 
Schneider Electric SA 145,652 13,240,951 
SCOR SE 44,737 1,817,921 
SEB SA 5,633 1,080,903 
Societe Generale Series A 197,362 10,801,383 
Sodexo SA (b) 7,786 771,035 
Sodexo SA 15,207 1,505,925 
SR Teleperformance SA 14,882 2,388,413 
Suez Environnement SA 95,156 1,374,328 
Thales SA 27,442 3,479,591 
Total SA 616,780 38,765,705 
Ubisoft Entertainment SA (b) 20,174 1,927,586 
Unibail-Rodamco 25,645 6,159,715 
Valeo SA 61,758 4,134,658 
Veolia Environnement SA 122,662 2,911,429 
VINCI SA 130,245 13,022,377 
Vivendi SA 266,192 7,036,616 
Wendel SA 6,898 1,042,919 
TOTAL FRANCE  395,441,637 
Germany - 6.1%   
adidas AG 48,354 11,906,188 
Allianz SE 114,255 27,024,038 
Axel Springer Verlag AG 12,817 1,050,169 
BASF AG 235,599 24,512,539 
Bayer AG 212,455 25,392,539 
Bayerische Motoren Werke AG (BMW) 84,476 9,433,162 
Beiersdorf AG 25,905 2,938,088 
Brenntag AG 39,920 2,290,815 
Commerzbank AG (b) 274,650 3,552,157 
Continental AG 28,216 7,537,090 
Covestro AG (d) 41,609 3,796,665 
Daimler AG (Germany) 246,950 19,533,202 
Deutsche Bank AG 531,474 7,294,790 
Deutsche Borse AG 49,501 6,657,345 
Deutsche Lufthansa AG 60,052 1,752,779 
Deutsche Post AG 249,125 10,813,134 
Deutsche Telekom AG 854,493 14,956,722 
Deutsche Wohnen AG (Bearer) 90,923 4,297,518 
Drillisch AG 14,030 1,018,252 
E.ON AG 563,759 6,173,029 
Evonik Industries AG 42,495 1,512,824 
Fraport AG Frankfurt Airport Services Worldwide 10,782 1,046,836 
Fresenius Medical Care AG & Co. KGaA 54,815 5,562,126 
Fresenius Medical Care AG & Co. KGaA sponsored ADR 1,480 74,844 
Fresenius SE & Co. KGaA 106,989 8,183,523 
GEA Group AG 47,212 1,847,798 
Hannover Reuck SE 15,489 2,180,947 
HeidelbergCement Finance AG 38,401 3,768,274 
Henkel AG & Co. KGaA 26,880 3,205,453 
Hochtief AG 4,805 879,662 
Hugo Boss AG 15,944 1,497,959 
Infineon Technologies AG 291,881 7,473,822 
Innogy SE (d) 36,007 1,588,399 
K&S AG 49,244 1,451,591 
KION Group AG 18,475 1,546,111 
Lanxess AG 23,696 1,761,557 
Linde AG 17,119 3,804,848 
Linde AG 30,559 6,598,265 
MAN SE 9,370 1,080,603 
Merck KGaA 33,352 3,271,207 
Metro Wholesale & Food Specialist AG (a) 48,029 696,868 
MTU Aero Engines Holdings AG 13,375 2,309,686 
Muenchener Rueckversicherungs AG 39,761 9,120,522 
OSRAM Licht AG 25,648 1,479,558 
ProSiebenSat.1 Media AG 60,321 2,188,330 
RWE AG 134,065 3,217,701 
SAP SE 252,170 28,017,520 
Schaeffler AG 41,879 650,623 
Siemens AG 196,406 24,942,557 
Siemens Healthineers AG (b)(d) 38,870 1,515,439 
Symrise AG 31,701 2,568,731 
Telefonica Deutschland Holding AG 184,411 882,094 
Thyssenkrupp AG 110,697 2,887,438 
TUI AG 21,520 487,267 
TUI AG (GB) 90,441 2,048,814 
Uniper SE 52,474 1,626,646 
United Internet AG 31,633 2,054,397 
Volkswagen AG 8,400 1,710,234 
Vonovia SE 124,263 6,243,997 
Wirecard AG 30,223 4,127,844 
Zalando SE (a)(b)(d) 28,871 1,490,462 
TOTAL GERMANY  350,533,598 
Greece - 0.1%   
Alpha Bank AE (b) 366,408 969,019 
EFG Eurobank Ergasias SA (b) 476,078 603,082 
Ff Group (b) 7,090 134,422 
Greek Organization of Football Prognostics SA 57,209 686,020 
Hellenic Telecommunications Organization SA 60,668 882,815 
Jumbo SA 26,467 484,537 
National Bank of Greece SA (b) 1,388,079 579,980 
Piraeus Bank SA (b) 71,596 303,645 
Titan Cement Co. SA (Reg.) 12,970 342,227 
TOTAL GREECE  4,985,747 
Hong Kong - 2.5%   
AIA Group Ltd. 3,102,200 27,724,982 
Bank of East Asia Ltd. 312,922 1,374,063 
Beijing Enterprises Holdings Ltd. 123,000 614,372 
BOC Hong Kong (Holdings) Ltd. 954,000 4,931,727 
BYD Electronic International Co. Ltd. 159,000 242,444 
China Everbright International Ltd. 613,000 859,828 
China Everbright Ltd. 268,000 589,752 
China Jinmao Holdings Group Ltd. 1,298,000 734,767 
China Merchants Holdings International Co. Ltd. 353,250 789,290 
China Mobile Ltd. 1,579,000 15,042,337 
China Overseas Land and Investment Ltd. 994,000 3,330,528 
China Resources Beer Holdings Co. Ltd. 412,989 1,778,714 
China Resources Pharmaceutical Group Ltd. 468,500 647,682 
China Resources Power Holdings Co. Ltd. 481,780 924,109 
China Taiping Insurance Group Ltd. 425,465 1,422,828 
China Unicom Ltd. 1,582,000 2,237,026 
CITIC Pacific Ltd. 1,516,000 2,311,901 
CLP Holdings Ltd. 426,000 4,423,618 
CNOOC Ltd. 4,595,000 7,773,425 
CSPC Pharmaceutical Group Ltd. 1,214,000 3,092,129 
Far East Horizon Ltd. 489,000 485,229 
Fosun International Ltd. 661,500 1,405,683 
Galaxy Entertainment Group Ltd. 609,000 5,330,353 
Guangdong Investment Ltd. 776,000 1,201,118 
Hang Lung Group Ltd. 218,000 658,472 
Hang Lung Properties Ltd. 505,000 1,195,120 
Hang Seng Bank Ltd. 197,200 4,995,060 
Henderson Land Development Co. Ltd. 307,113 1,947,266 
Hong Kong & China Gas Co. Ltd. 2,171,054 4,536,301 
Hong Kong Exchanges and Clearing Ltd. 302,879 9,811,627 
Hysan Development Co. Ltd. 154,434 898,833 
Lenovo Group Ltd. 1,894,000 899,227 
Link (REIT) 566,730 5,008,833 
MTR Corp. Ltd. 392,564 2,205,723 
New World Development Co. Ltd. 1,541,763 2,261,028 
PCCW Ltd. 1,035,627 640,175 
Power Assets Holdings Ltd. 350,500 2,608,016 
Shanghai Industrial Holdings Ltd. 128,000 335,653 
Sino Land Ltd. 828,114 1,429,470 
Sino-Ocean Group Holding Ltd. 746,913 518,628 
SJM Holdings Ltd. 487,000 487,793 
Sun Art Retail Group Ltd. 608,417 683,832 
Sun Hung Kai Properties Ltd. 373,583 6,016,347 
Swire Pacific Ltd. (A Shares) 125,500 1,240,105 
Swire Properties Ltd. 294,000 1,043,550 
Techtronic Industries Co. Ltd. 355,500 2,082,587 
Wharf Holdings Ltd. 319,000 1,061,267 
Wheelock and Co. Ltd. 216,000 1,602,550 
TOTAL HONG KONG  143,435,368 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 97,524 1,126,946 
OTP Bank PLC 60,202 2,630,193 
Richter Gedeon PLC 37,372 755,962 
TOTAL HUNGARY  4,513,101 
India - 2.1%   
ABB Ltd. India 82 
ACC Ltd. 10,680 254,450 
Adani Ports & Special Economic Zone Ltd. 189,401 1,158,582 
Ambuja Cements Ltd. 148,580 559,248 
Ashok Leyland Ltd. 299,533 738,112 
Asian Paints Ltd. 73,678 1,329,507 
Aurobindo Pharma Ltd. 66,614 642,091 
Axis Bank Ltd. 461,804 3,580,116 
Bajaj Auto Ltd. 22,085 977,721 
Bajaj Finance Ltd. 44,791 1,280,528 
Bajaj Finserv Ltd. 9,361 770,101 
Bharat Forge Ltd. 53,714 623,781 
Bharat Heavy Electricals Ltd. 219,181 288,246 
Bharat Petroleum Corp. Ltd. 188,574 1,095,695 
Bharti Airtel Ltd. 358,949 2,204,269 
Bharti Infratel Ltd. 152,647 718,419 
Bosch Ltd. 1,813 528,188 
Britannia Industries Ltd. 7,481 620,377 
Cadila Healthcare Ltd. (b) 51,683 320,024 
Cipla Ltd. (b) 85,413 778,051 
Coal India Ltd. 171,021 732,051 
Container Corp. of India Ltd. 12,162 238,018 
Dabur India Ltd. 141,370 783,938 
Dr. Reddy's Laboratories Ltd. 28,459 904,346 
Eicher Motors Ltd. 3,485 1,628,284 
GAIL India Ltd. 168,561 822,902 
Glenmark Pharmaceuticals Ltd. 35,072 301,228 
Godrej Consumer Products Ltd. 58,581 981,653 
Grasim Industries Ltd. 85,945 1,409,181 
Havells India Ltd. 66,714 547,159 
HCL Technologies Ltd. 142,490 2,252,693 
Hero Motocorp Ltd. 12,522 701,449 
Hindalco Industries Ltd. 308,496 1,085,378 
Hindustan Petroleum Corp. Ltd. 163,122 744,772 
Hindustan Unilever Ltd. 166,714 3,772,504 
Housing Development Finance Corp. Ltd. 389,061 11,007,712 
ICICI Bank Ltd. 609,921 2,606,615 
Idea Cellular Ltd. (b) 483,950 501,989 
IDFC Bank Ltd. 301,509 218,403 
Indiabulls Housing Finance Ltd. 82,270 1,610,746 
Indiabulls Wholesale Services Ltd. 510 3,273 
Indian Oil Corp. Ltd. 290,256 705,655 
Infosys Ltd. 448,235 8,070,891 
ITC Ltd. 880,290 3,720,110 
JSW Steel Ltd. 223,652 1,087,462 
Larsen & Toubro Ltd. 121,647 2,557,224 
LIC Housing Finance Ltd. 73,374 600,732 
Lupin Ltd. (b) 54,070 658,573 
Mahindra & Mahindra Financial Services Ltd. (b) 77,090 610,308 
Mahindra & Mahindra Ltd. 191,071 2,502,135 
Marico Ltd. 119,476 596,061 
Maruti Suzuki India Ltd. 27,241 3,601,339 
Motherson Sumi Systems Ltd. 159,873 847,054 
Nestle India Ltd. 5,899 833,500 
NTPC Ltd. 427,334 1,104,916 
Oil & Natural Gas Corp. Ltd. 316,278 857,233 
Petronet LNG Ltd. 149,028 507,395 
Piramal Enterprises Ltd. (b) 20,475 798,553 
Power Finance Corp. Ltd. 154,754 203,876 
Reliance Industries Ltd. 730,967 10,553,994 
Rural Electrification Corp. Ltd. 191,503 366,218 
Shree Cement Ltd. 2,235 568,495 
Shriram Transport Finance Co. Ltd. 37,050 894,405 
Siemens India Ltd. 17,780 299,550 
State Bank of India 446,298 1,649,020 
Sun Pharmaceutical Industries Ltd. 247,171 1,960,869 
Tata Consultancy Services Ltd. 117,684 6,241,137 
Tata Motors Ltd. (b) 395,386 2,007,978 
Tata Motors Ltd. Class A (b) 121,672 348,690 
Tata Power Co. Ltd. 303,384 401,712 
Tata Steel Ltd. 88,154 784,165 
Tech Mahindra Ltd. 122,194 1,228,211 
Titan Co. Ltd. (b) 80,277 1,182,731 
Ultratech Cemco Ltd. 23,038 1,420,363 
United Spirits Ltd. (b) 14,640 795,649 
UPL Ltd. 88,166 965,290 
Vakrangee Ltd. 100,622 150,827 
Vedanta Ltd. 383,680 1,711,026 
Wipro Ltd. 289,031 1,204,578 
Yes Bank Ltd. 437,609 2,373,170 
Zee Entertainment Enterprises Ltd. (b) 135,750 1,198,920 
TOTAL INDIA  119,491,897 
Indonesia - 0.5%   
PT Adaro Energy Tbk 3,581,500 469,002 
PT AKR Corporindo Tbk 391,200 136,982 
PT Astra International Tbk 5,227,100 2,675,371 
PT Bank Central Asia Tbk 2,540,000 4,016,458 
PT Bank Danamon Indonesia Tbk Series A 866,613 413,098 
PT Bank Mandiri (Persero) Tbk 4,805,300 2,434,147 
PT Bank Negara Indonesia (Persero) Tbk 1,862,289 1,072,150 
PT Bank Rakyat Indonesia Tbk 14,337,600 3,305,799 
PT Bank Tabungan Negara Tbk 1,037,700 231,259 
PT Bumi Serpong Damai Tbk 1,715,600 207,166 
PT Charoen Pokphand Indonesia Tbk 1,875,200 494,354 
PT Gudang Garam Tbk 129,700 644,333 
PT Hanjaya Mandala Sampoerna Tbk 2,339,600 592,842 
PT Indocement Tunggal Prakarsa Tbk 495,000 626,428 
PT Indofood CBP Sukses Makmur Tbk 591,300 367,353 
PT Indofood Sukses Makmur Tbk 1,108,900 554,417 
PT Jasa Marga Tbk 477,453 149,257 
PT Kalbe Farma Tbk 5,750,100 620,749 
PT Matahari Department Store Tbk 626,200 463,654 
PT Pakuwon Jati Tbk 5,371,500 227,052 
PT Perusahaan Gas Negara Tbk Series B 2,898,900 410,351 
PT Semen Gresik (Persero) Tbk 725,600 501,161 
PT Surya Citra Media Tbk 1,503,100 275,130 
PT Telekomunikasi Indonesia Tbk Series B 12,979,200 3,541,694 
PT Tower Bersama Infrastructure Tbk 518,900 206,664 
PT Unilever Indonesia Tbk 398,800 1,325,475 
PT United Tractors Tbk 436,012 1,063,819 
PT Waskita Karya Persero Tbk 1,085,600 171,490 
PT XL Axiata Tbk (b) 840,625 127,410 
TOTAL INDONESIA  27,325,065 
Ireland - 0.4%   
AIB Group PLC 204,022 1,217,595 
Bank Ireland Group PLC 237,359 2,135,429 
CRH PLC 216,140 7,675,438 
DCC PLC (United Kingdom) 23,241 2,239,712 
James Hardie Industries PLC CDI 113,584 2,005,830 
Kerry Group PLC Class A 40,881 4,171,587 
Paddy Power Betfair PLC (Ireland) 20,742 2,052,687 
Ryanair Holdings PLC (b) 4,983 92,882 
Ryanair Holdings PLC sponsored ADR (b) 6,523 717,334 
TOTAL IRELAND  22,308,494 
Isle of Man - 0.1%   
Gaming VC Holdings SA 140,036 1,720,629 
Genting Singapore PLC 1,590,300 1,393,288 
NEPI Rockcastle PLC 97,843 1,078,302 
TOTAL ISLE OF MAN  4,192,219 
Israel - 0.3%   
Azrieli Group 10,469 480,260 
Bank Hapoalim BM (Reg.) 274,919 1,883,745 
Bank Leumi le-Israel BM 372,290 2,203,358 
Bezeq The Israel Telecommunication Corp. Ltd. 514,378 649,163 
Check Point Software Technologies Ltd. (a)(b) 33,781 3,260,204 
Elbit Systems Ltd. (Israel) 5,811 672,497 
Frutarom Industries Ltd. 10,203 979,490 
Israel Chemicals Ltd. 180,980 813,642 
Mizrahi Tefahot Bank Ltd. 35,566 651,344 
NICE Systems Ltd. (b) 15,802 1,498,994 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 234,932 4,224,077 
TOTAL ISRAEL  17,316,774 
Italy - 1.4%   
Assicurazioni Generali SpA 319,843 6,465,698 
Atlantia SpA 117,118 3,889,372 
Davide Campari-Milano SpA 145,859 1,095,587 
Enel SpA 2,083,981 13,220,197 
Eni SpA 651,989 12,745,351 
Intesa Sanpaolo SpA 3,461,455 13,167,228 
Intesa Sanpaolo SpA (Risparmio Shares) 237,756 943,457 
Leonardo SpA 106,950 1,241,159 
Luxottica Group SpA 43,552 2,722,234 
Mediobanca SpA 159,645 1,940,404 
Poste Italiane SpA (d) 134,941 1,320,911 
Prysmian SpA 52,557 1,547,346 
Recordati SpA 27,271 976,447 
Snam Rete Gas SpA 586,053 2,820,255 
Telecom Italia SpA (a)(b) 2,823,068 2,789,356 
Terna SpA 362,011 2,175,768 
UniCredit SpA 514,597 11,169,535 
Unipolsai SpA 244,816 659,277 
TOTAL ITALY  80,889,582 
Japan - 16.4%   
ABC-MART, Inc. 8,100 534,221 
ACOM Co. Ltd. (a) 97,700 443,278 
AEON Co. Ltd. 157,700 3,155,587 
AEON Financial Service Co. Ltd. 28,900 678,352 
AEON MALL Co. Ltd. 28,020 568,499 
Air Water, Inc. 37,200 719,363 
Aisin Seiki Co. Ltd. 45,000 2,445,115 
Ajinomoto Co., Inc. 137,800 2,528,602 
Alfresa Holdings Corp. 48,700 1,076,282 
All Nippon Airways Ltd. 28,900 1,147,329 
Alps Electric Co. Ltd. 49,300 1,094,954 
Amada Holdings Co. Ltd. 89,200 1,074,610 
Aozora Bank Ltd. 29,600 1,198,134 
Asahi Glass Co. Ltd. 51,700 2,147,073 
Asahi Group Holdings 99,400 5,033,648 
Asahi Kasei Corp. 324,100 4,469,271 
Asics Corp. 43,000 815,002 
Astellas Pharma, Inc. 532,400 7,787,007 
Bandai Namco Holdings, Inc. 51,600 1,753,513 
Bank of Kyoto Ltd. 15,200 914,892 
Benesse Holdings, Inc. 17,900 653,321 
Bridgestone Corp. 167,300 7,022,866 
Brother Industries Ltd. 59,100 1,273,688 
Calbee, Inc. 19,700 664,956 
Canon, Inc. 269,900 9,284,342 
Canon, Inc. sponsored ADR 4,174 143,210 
Casio Computer Co. Ltd. 49,700 742,409 
Central Japan Railway Co. 37,000 7,435,876 
Chiba Bank Ltd. 183,300 1,482,228 
Chubu Electric Power Co., Inc. 166,200 2,605,047 
Chugai Pharmaceutical Co. Ltd. 56,800 3,003,147 
Chugoku Electric Power Co., Inc. 72,300 906,065 
Coca-Cola West Co. Ltd. 32,200 1,387,322 
Concordia Financial Group Ltd. 316,700 1,845,389 
Credit Saison Co. Ltd. 38,600 693,119 
CYBERDYNE, Inc. (a)(b) 23,800 305,011 
Dai Nippon Printing Co. Ltd. 64,900 1,399,874 
Dai-ichi Mutual Life Insurance Co. 277,300 5,514,546 
Daicel Chemical Industries Ltd. 69,300 802,541 
Daifuku Co. Ltd. 25,900 1,393,085 
Daiichi Sankyo Kabushiki Kaisha 145,800 5,001,372 
Daikin Industries Ltd. 64,000 7,496,524 
Dainippon Sumitomo Pharma Co. Ltd. 39,200 715,368 
Daito Trust Construction Co. Ltd. 17,900 2,989,064 
Daiwa House Industry Co. Ltd. 145,300 5,329,793 
Daiwa House REIT Investment Corp. 440 1,050,494 
Daiwa Securities Group, Inc. 417,000 2,566,007 
DeNA Co. Ltd. 28,900 551,194 
DENSO Corp. 122,500 6,449,963 
Dentsu, Inc. 55,800 2,644,018 
Disco Corp. 7,400 1,305,086 
Don Quijote Holdings Co. Ltd. 30,900 1,667,673 
East Japan Railway Co. 84,200 8,079,565 
Eisai Co. Ltd. 68,600 4,609,102 
Electric Power Development Co. Ltd. 38,400 1,046,059 
FamilyMart Co. Ltd. 21,200 2,061,434 
Fanuc Corp. 49,800 10,667,690 
Fast Retailing Co. Ltd. 13,700 6,041,685 
Fuji Electric Co. Ltd. 149,000 1,068,569 
Fujifilm Holdings Corp. 106,000 4,271,222 
Fujitsu Ltd. 506,000 3,082,194 
Fukuoka Financial Group, Inc. 205,000 1,098,884 
Hakuhodo DY Holdings, Inc. 57,200 801,072 
Hamamatsu Photonics K.K. 36,800 1,420,563 
Hankyu Hanshin Holdings, Inc. 62,500 2,466,955 
Hikari Tsushin, Inc. 5,400 877,278 
Hino Motors Ltd. 63,900 781,507 
Hirose Electric Co. Ltd. 8,216 1,158,898 
Hisamitsu Pharmaceutical Co., Inc. 15,400 1,201,628 
Hitachi Chemical Co. Ltd. 25,300 556,822 
Hitachi Construction Machinery Co. Ltd. 28,300 1,031,609 
Hitachi High-Technologies Corp. 17,300 808,663 
Hitachi Ltd. 1,241,000 9,099,759 
Hitachi Metals Ltd. 54,100 621,566 
Honda Motor Co. Ltd. 441,900 15,195,156 
Hoshizaki Corp. 13,700 1,274,506 
Hoya Corp. 99,200 5,319,341 
Hulic Co. Ltd. 74,000 796,725 
Idemitsu Kosan Co. Ltd. 35,200 1,379,729 
IHI Corp. 38,900 1,277,452 
Iida Group Holdings Co. Ltd. 39,600 775,554 
INPEX Corp. 246,800 3,166,273 
Isetan Mitsukoshi Holdings Ltd. 87,400 973,776 
Isuzu Motors Ltd. 142,300 2,179,018 
Itochu Corp. 384,500 7,716,731 
J. Front Retailing Co. Ltd. 61,500 998,559 
Japan Airlines Co. Ltd. 30,500 1,202,479 
Japan Airport Terminal Co. Ltd. 11,800 485,190 
Japan Exchange Group, Inc. 134,200 2,492,005 
Japan Post Bank Co. Ltd. 101,600 1,382,920 
Japan Post Holdings Co. Ltd. 404,300 4,918,761 
Japan Prime Realty Investment Corp. 220 798,939 
Japan Real Estate Investment Corp. 338 1,756,165 
Japan Retail Fund Investment Corp. 693 1,299,533 
Japan Tobacco, Inc. 282,700 7,593,748 
JFE Holdings, Inc. 132,800 2,738,727 
JGC Corp. 54,500 1,338,570 
JSR Corp. 51,000 963,364 
JTEKT Corp. 58,900 956,344 
JX Holdings, Inc. 792,910 5,181,622 
Kajima Corp. 232,000 2,238,932 
Kakaku.com, Inc. 34,800 665,631 
Kamigumi Co. Ltd. 28,800 650,714 
Kaneka Corp. 76,000 751,518 
Kansai Electric Power Co., Inc. 181,600 2,541,603 
Kansai Paint Co. Ltd. 51,800 1,167,538 
Kao Corp. 127,200 9,139,737 
Kawasaki Heavy Industries Ltd. 38,700 1,299,204 
KDDI Corp. 464,900 12,479,592 
Keihan Electric Railway Co., Ltd. 23,800 770,692 
Keihin Electric Express Railway Co. Ltd. 62,200 1,141,926 
Keio Corp. 29,000 1,329,034 
Keisei Electric Railway Co. 35,600 1,162,569 
Keyence Corp. 24,940 15,278,374 
Kikkoman Corp. 38,600 1,675,421 
Kintetsu Group Holdings Co. Ltd. 47,300 1,927,566 
Kirin Holdings Co. Ltd. 223,100 6,271,371 
Kobe Steel Ltd. 76,700 794,222 
Koito Manufacturing Co. Ltd. 29,100 1,956,504 
Komatsu Ltd. 237,200 8,085,848 
Konami Holdings Corp. 23,300 1,146,670 
Konica Minolta, Inc. 125,200 1,076,546 
Kose Corp. 7,700 1,426,317 
Kubota Corp. 271,200 4,588,222 
Kuraray Co. Ltd. 93,200 1,553,333 
Kurita Water Industries Ltd. 26,400 857,300 
Kyocera Corp. 82,600 5,287,548 
Kyowa Hakko Kirin Co., Ltd. 66,200 1,437,603 
Kyushu Electric Power Co., Inc. 110,100 1,361,647 
Kyushu Financial Group, Inc. 85,800 422,250 
Kyushu Railway Co. 40,400 1,297,146 
Lawson, Inc. 12,400 820,088 
LINE Corp. (b) 10,900 394,191 
Lion Corp. 56,700 1,225,077 
LIXIL Group Corp. 69,700 1,563,978 
M3, Inc. 54,100 2,051,267 
Mabuchi Motor Co. Ltd. 12,400 626,125 
Makita Corp. 58,300 2,623,820 
Marubeni Corp. 428,500 3,230,605 
Marui Group Co. Ltd. 49,200 1,023,875 
Maruichi Steel Tube Ltd. 15,200 520,710 
Mazda Motor Corp. 148,100 2,061,234 
McDonald's Holdings Co. (Japan) Ltd. 16,500 772,777 
Mebuki Financial Group, Inc. 260,610 1,013,165 
Medipal Holdings Corp. 42,700 918,292 
Meiji Holdings Co. Ltd. 31,000 2,489,755 
Minebea Mitsumi, Inc. 99,200 1,993,619 
Misumi Group, Inc. 73,000 2,023,326 
Mitsubishi Chemical Holdings Corp. 369,200 3,510,642 
Mitsubishi Corp. 388,200 10,749,007 
Mitsubishi Electric Corp. 496,600 7,633,885 
Mitsubishi Estate Co. Ltd. 322,300 5,889,243 
Mitsubishi Gas Chemical Co., Inc. 43,500 1,024,232 
Mitsubishi Heavy Industries Ltd. 83,200 3,292,382 
Mitsubishi Materials Corp. 29,900 913,520 
Mitsubishi Motors Corp. of Japan 173,200 1,292,821 
Mitsubishi Tanabe Pharma Corp. 59,000 1,124,735 
Mitsubishi UFJ Financial Group, Inc. 3,063,700 20,530,906 
Mitsubishi UFJ Lease & Finance Co. Ltd. 112,700 718,550 
Mitsui & Co. Ltd. 438,900 7,935,290 
Mitsui Chemicals, Inc. 46,200 1,327,003 
Mitsui Fudosan Co. Ltd. 229,400 5,899,726 
Mitsui OSK Lines Ltd. 28,600 848,948 
mixi, Inc. 11,100 366,548 
Mizuho Financial Group, Inc. 6,205,160 11,226,604 
MS&AD Insurance Group Holdings, Inc. 122,390 4,111,014 
Murata Manufacturing Co. Ltd. 49,200 6,211,320 
Nabtesco Corp. 29,000 1,049,168 
Nagoya Railroad Co. Ltd. 47,400 1,244,835 
NEC Corp. 67,500 1,855,447 
New Hampshire Foods Ltd. 22,500 984,838 
Nexon Co. Ltd. (b) 103,700 1,511,106 
NGK Insulators Ltd. 69,000 1,269,923 
NGK Spark Plug Co. Ltd. 39,900 1,029,254 
Nidec Corp. 61,200 9,595,390 
Nikon Corp. 88,500 1,544,621 
Nintendo Co. Ltd. 29,100 12,227,137 
Nippon Building Fund, Inc. 345 1,940,862 
Nippon Electric Glass Co. Ltd. 21,100 608,951 
Nippon Express Co. Ltd. 20,100 1,520,554 
Nippon Paint Holdings Co. Ltd. 42,700 1,749,872 
Nippon Prologis REIT, Inc. 446 939,570 
Nippon Steel & Sumitomo Metal Corp. 195,917 4,274,259 
Nippon Telegraph & Telephone Corp. 177,400 8,418,550 
Nippon Yusen KK 40,000 854,007 
Nissan Chemical Industries Co. Ltd. 30,300 1,351,194 
Nissan Motor Co. Ltd. 595,900 6,276,792 
Nisshin Seifun Group, Inc. 51,745 1,132,691 
Nissin Food Holdings Co. Ltd. 15,200 1,119,283 
Nitori Holdings Co. Ltd. 20,600 3,482,327 
Nitto Denko Corp. 42,500 3,168,450 
NKSJ Holdings, Inc. 91,000 3,820,801 
NOK Corp. 23,500 483,672 
Nomura Holdings, Inc. 935,600 5,388,640 
Nomura Real Estate Holdings, Inc. 31,300 778,205 
Nomura Real Estate Master Fund, Inc. 982 1,371,674 
Nomura Research Institute Ltd. 34,340 1,774,799 
NSK Ltd. 96,700 1,300,302 
NTT Data Corp. 163,200 1,760,088 
NTT DOCOMO, Inc. 339,200 8,762,896 
NTT DOCOMO, Inc. sponsored ADR 10,464 263,484 
Obayashi Corp. 168,900 1,949,797 
OBIC Co. Ltd. 16,500 1,384,056 
Odakyu Electric Railway Co. Ltd. 74,100 1,600,349 
Oji Holdings Corp. 227,000 1,598,884 
Olympus Corp. 73,800 2,757,711 
OMRON Corp. 48,800 2,651,592 
Ono Pharmaceutical Co. Ltd. 104,900 2,432,026 
Oracle Corp. Japan 9,400 773,875 
Oriental Land Co. Ltd. 55,900 5,581,307 
ORIX Corp. 340,500 5,992,700 
Osaka Gas Co. Ltd. 97,100 2,090,865 
Otsuka Corp. 26,800 1,250,274 
Otsuka Holdings Co. Ltd. 100,600 5,274,782 
Panasonic Corp. 567,700 8,406,019 
Park24 Co. Ltd. 27,300 774,149 
Pola Orbis Holdings, Inc. 22,700 992,554 
Rakuten, Inc. 243,500 1,730,452 
Recruit Holdings Co. Ltd. 283,100 6,544,033 
Renesas Electronics Corp. (b) 214,200 2,249,374 
Resona Holdings, Inc. 573,700 3,267,340 
Ricoh Co. Ltd. 182,500 1,787,939 
Rinnai Corp. 8,300 826,811 
ROHM Co. Ltd. 24,000 2,243,688 
Ryohin Keikaku Co. Ltd. 6,200 2,129,619 
Sankyo Co. Ltd. (Gunma) 11,600 407,995 
Santen Pharmaceutical Co. Ltd. 95,900 1,618,510 
SBI Holdings, Inc. Japan 52,080 1,318,198 
Secom Co. Ltd. 54,300 4,073,990 
Sega Sammy Holdings, Inc. 43,500 714,654 
Seibu Holdings, Inc. 59,300 1,002,979 
Seiko Epson Corp. 73,300 1,377,895 
Sekisui Chemical Co. Ltd. 104,300 1,850,915 
Sekisui House Ltd. 149,500 2,741,244 
Seven & i Holdings Co. Ltd. 193,800 8,538,986 
Seven Bank Ltd. 148,700 500,563 
Sharp Corp. (a) 37,600 1,105,781 
Shimadzu Corp. 65,200 1,774,929 
Shimamura Co. Ltd. 5,500 641,465 
SHIMANO, Inc. 18,800 2,500,476 
SHIMIZU Corp. 141,400 1,402,100 
Shin-Etsu Chemical Co. Ltd. 99,900 10,056,710 
Shinsei Bank Ltd. 41,500 648,390 
Shionogi & Co. Ltd. 76,600 3,947,717 
Shiseido Co. Ltd. 97,600 6,349,535 
Shizuoka Bank Ltd. 132,400 1,346,769 
Showa Shell Sekiyu K.K. 45,700 646,706 
SMC Corp. 14,700 5,609,989 
SoftBank Corp. 212,100 16,206,287 
Sohgo Security Services Co., Ltd. 18,900 935,318 
Sony Corp. 324,900 15,174,818 
Sony Financial Holdings, Inc. 43,500 795,431 
Stanley Electric Co. Ltd. 37,000 1,341,978 
Start Today Co. Ltd. 46,800 1,352,799 
Subaru Corp. 158,300 5,327,348 
Sumco Corp. 60,900 1,505,231 
Sumitomo Chemical Co. Ltd. 406,000 2,336,023 
Sumitomo Corp. 305,800 5,509,267 
Sumitomo Electric Industries Ltd. 196,200 3,014,251 
Sumitomo Heavy Industries Ltd. 29,300 1,123,006 
Sumitomo Metal Mining Co. Ltd. 64,300 2,763,277 
Sumitomo Mitsui Financial Group, Inc. 345,300 14,391,505 
Sumitomo Mitsui Trust Holdings, Inc. 85,625 3,638,984 
Sumitomo Realty & Development Co. Ltd. 92,000 3,659,971 
Sumitomo Rubber Industries Ltd. 45,700 818,102 
Sundrug Co. Ltd. 18,300 942,453 
Suntory Beverage & Food Ltd. 36,300 1,789,764 
Suzuken Co. Ltd. 18,210 784,569 
Suzuki Motor Corp. 88,200 4,752,892 
Sysmex Corp. 40,400 3,577,314 
T&D Holdings, Inc. 135,400 2,302,494 
Taiheiyo Cement Corp. 30,400 1,152,653 
Taisei Corp. 52,500 2,838,227 
Taisho Pharmaceutical Holdings Co. Ltd. 7,700 738,868 
Taiyo Nippon Sanso Corp. 36,400 540,406 
Takashimaya Co. Ltd. 76,000 653,494 
Takeda Pharmaceutical Co. Ltd. 183,100 7,710,350 
TDK Corp. 33,400 2,887,212 
Teijin Ltd. 50,000 942,645 
Temp Holdings Co., Ltd. 46,600 1,109,585 
Terumo Corp. 83,000 4,707,281 
The Hachijuni Bank Ltd. 100,000 529,638 
The Suruga Bank Ltd. 42,400 577,124 
THK Co. Ltd. 30,900 1,082,574 
Tobu Railway Co. Ltd. 49,000 1,564,307 
Toho Co. Ltd. 30,000 1,004,391 
Toho Gas Co. Ltd. 18,400 558,800 
Tohoku Electric Power Co., Inc. 113,800 1,468,824 
Tokio Marine Holdings, Inc. 172,900 8,180,011 
Tokyo Electric Power Co., Inc. (b) 379,700 1,809,584 
Tokyo Electron Ltd. 40,300 7,761,768 
Tokyo Gas Co. Ltd. 98,900 2,652,532 
Tokyo Tatemono Co. Ltd. 51,600 786,839 
Tokyu Corp. 137,200 2,310,512 
Tokyu Fudosan Holdings Corp. 136,200 1,073,952 
Toppan Printing Co. Ltd. 131,000 1,097,658 
Toray Industries, Inc. 379,000 3,537,804 
Toshiba Corp. (b) 1,676,000 4,492,023 
Tosoh Corp. 77,100 1,369,632 
Toto Ltd. 36,400 2,067,728 
Toyo Seikan Group Holdings Ltd. 39,900 628,867 
Toyo Suisan Kaisha Ltd. 22,100 871,304 
Toyoda Gosei Co. Ltd. 16,300 413,613 
Toyota Industries Corp. 42,100 2,491,648 
Toyota Motor Corp. 670,172 43,944,788 
Toyota Tsusho Corp. 55,300 1,990,537 
Trend Micro, Inc. 30,800 1,848,225 
Tsuruha Holdings, Inc. 9,700 1,395,728 
Unicharm Corp. 102,300 2,877,538 
United Urban Investment Corp. 802 1,231,025 
USS Co. Ltd. 55,300 1,163,971 
West Japan Railway Co. 42,800 3,034,211 
Yahoo! Japan Corp. (a) 369,700 1,521,817 
Yakult Honsha Co. Ltd. 29,100 2,076,290 
Yamada Denki Co. Ltd. 157,500 826,976 
Yamaguchi Financial Group, Inc. 49,000 613,172 
Yamaha Corp. 43,600 2,109,806 
Yamaha Motor Co. Ltd. 72,100 2,308,361 
Yamato Holdings Co. Ltd. 90,200 2,324,721 
Yamazaki Baking Co. Ltd. 32,500 712,907 
Yaskawa Electric Corp. 65,800 2,690,505 
Yokogawa Electric Corp. 59,500 1,313,877 
Yokohama Rubber Co. Ltd. 29,100 688,104 
TOTAL JAPAN  936,311,928 
Korea (South) - 3.6%   
AMOREPACIFIC Corp. 8,160 2,659,234 
AMOREPACIFIC Group, Inc. 7,129 951,931 
BGF Retail Co. Ltd. 1,949 347,605 
BGFretail Co. Ltd. 3,638 43,143 
BS Financial Group, Inc. 65,100 635,241 
Celltrion Healthcare Co. Ltd. 8,664 726,500 
Celltrion, Inc. 20,901 5,289,045 
Cheil Industries, Inc. 19,770 2,584,495 
Cheil Worldwide, Inc. 17,382 310,009 
CJ CheilJedang Corp. 2,084 667,472 
CJ Corp. 3,574 542,312 
CJ E&M Corp. 4,791 404,870 
Coway Co. Ltd. 13,816 1,128,837 
Daelim Industrial Co. 6,889 553,217 
Daewoo Engineering & Construction Co. Ltd. (b) 53,578 317,688 
Db Insurance Co. Ltd. 12,315 723,313 
DGB Financial Group Co. Ltd. 41,485 464,850 
Dong Suh Companies, Inc. 8,128 209,096 
Doosan Bobcat, Inc. 7,792 237,196 
Doosan Heavy Industries & Construction Co. Ltd. 13,751 229,841 
E-Mart Co. Ltd. 5,451 1,374,298 
EUSU Holdings Co. Ltd. 38 
GS Engineering & Construction Corp. 13,795 525,561 
GS Holdings Corp. 12,812 733,362 
GS Retail Co. Ltd. 5,862 203,624 
Hana Financial Group, Inc. 76,576 3,414,342 
Hanjin Shipping Co. Ltd. (b)(c) 12 
Hankook Tire Co. Ltd. 18,687 862,873 
Hanmi Pharm Co. Ltd. 1,673 727,986 
Hanmi Science Co. Ltd. 2,843 206,537 
Hanon Systems 46,975 478,117 
Hanssem Co. Ltd. 2,680 291,542 
Hanwha Chemical Corp. 28,762 777,515 
Hanwha Corp. 11,109 414,412 
Hanwha Life Insurance Co. Ltd. 67,162 390,708 
Hanwha Techwin Co. Ltd. (b) 8,044 181,021 
Hotel Shilla Co. 7,880 853,543 
Hyosung Corp. 5,182 636,303 
Hyundai Department Store Co. Ltd. 3,171 306,463 
Hyundai Engineering & Construction Co. Ltd. 19,096 1,134,072 
Hyundai Fire & Marine Insurance Co. Ltd. 15,484 553,039 
Hyundai Glovis Co. Ltd. 4,640 730,060 
Hyundai Heavy Industries Co. Ltd. (b) 10,616 1,184,595 
Hyundai Industrial Development & Construction Co. (c) 15,521 672,479 
Hyundai Mobis 17,627 4,081,981 
Hyundai Motor Co. 40,038 5,981,819 
Hyundai Robotics Co. Ltd. 2,550 1,006,023 
Hyundai Steel Co. 19,816 1,121,320 
Hyundai Wia Corp. 3,524 176,706 
Industrial Bank of Korea 62,735 987,076 
ING Life Insurance Korea Ltd. (d) 7,823 300,962 
Kakao Corp. 11,502 1,192,168 
Kangwon Land, Inc. 29,384 792,957 
KB Financial Group, Inc. 102,621 5,814,768 
KCC Corp. 1,463 534,149 
KEPCO Plant Service & Engineering Co. Ltd. 4,893 231,646 
Kia Motors Corp. 67,445 2,084,581 
Korea Aerospace Industries Ltd. 16,871 680,559 
Korea Electric Power Corp. 65,851 2,297,401 
Korea Express Co. Ltd. (b) 1,810 264,505 
Korea Gas Corp. (b) 7,784 398,313 
Korea Investment Holdings Co. Ltd. 9,717 826,593 
Korea Zinc Co. Ltd. 2,200 890,539 
Korean Air Lines Co. Ltd. 11,690 372,774 
KT Corp. 6,424 162,897 
KT&G Corp. 30,403 2,776,491 
Kumho Petro Chemical Co. Ltd. 4,622 463,959 
LG Chemical Ltd. 11,829 3,976,413 
LG Corp. 24,943 1,888,907 
LG Display Co. Ltd. 61,098 1,330,440 
LG Electronics, Inc. 27,495 2,618,755 
LG Household & Health Care Ltd. 2,385 3,051,054 
LG Innotek Co. Ltd. 3,601 391,733 
Lotte Chemical Corp. 4,002 1,547,100 
Lotte Confectionery Co. Ltd. 7,318 444,851 
Lotte Shopping Co. Ltd. 2,767 661,439 
Medy-Tox, Inc. 1,110 723,053 
Mirae Asset Daewoo Co. Ltd. 92,230 842,271 
NAVER Corp. 7,229 4,833,171 
NCSOFT Corp. 4,565 1,534,561 
Netmarble Corp. (d) 6,503 895,667 
Oci Co. Ltd. 4,198 611,516 
Orion Corp./Republic of Korea 5,506 640,098 
Ottogi Corp. 380 281,738 
POSCO 19,122 6,571,004 
Posco Daewoo Corp. 10,124 213,177 
S-Oil Corp. 11,804 1,212,447 
S1 Corp. 4,083 374,015 
Samsung Biologics Co. Ltd. (b)(d) 4,252 1,937,555 
Samsung Card Co. Ltd. 7,471 260,213 
Samsung Electro-Mechanics Co. Ltd. 14,553 1,610,319 
Samsung Electronics Co. Ltd. 24,956 61,840,968 
Samsung Fire & Marine Insurance Co. Ltd. 7,944 1,984,285 
Samsung Heavy Industries Co. Ltd. (b) 95,701 656,818 
Samsung Life Insurance Co. Ltd. 18,243 1,993,072 
Samsung SDI Co. Ltd. 14,196 2,432,445 
Samsung SDS Co. Ltd. 9,001 2,059,196 
Samsung Securities Co. Ltd. 17,093 592,152 
Shinhan Financial Group Co. Ltd. 110,672 4,914,626 
Shinsegae Co. Ltd. 1,857 723,951 
SillaJen, Inc. (b) 14,264 1,120,155 
SK C&C Co. Ltd. 8,007 2,198,154 
SK Energy Co. Ltd. 16,441 3,016,697 
SK Hynix, Inc. 149,770 11,817,415 
SK Networks Co. Ltd. 33,013 173,246 
SK Telecom Co. Ltd. 5,353 1,140,667 
STX Pan Ocean Co. Ltd. (Korea) (b) 47,378 243,321 
Woori Bank 120,419 1,804,725 
Woori Investment & Securities Co. Ltd. 34,993 509,738 
Yuhan Corp. 2,089 446,699 
TOTAL KOREA (SOUTH)  207,238,399 
Luxembourg - 0.2%   
ArcelorMittal SA (Netherlands) 170,792 5,794,549 
Eurofins Scientific SA 2,936 1,587,681 
Millicom International Cellular SA (depository receipt) 17,254 1,150,707 
PLAY Communications SA (d) 31,356 264,795 
RTL Group SA 9,722 801,275 
SES SA (France) (depositary receipt) 91,191 1,409,565 
Tenaris SA 121,846 2,283,546 
TOTAL LUXEMBOURG  13,292,118 
Malaysia - 0.6%   
AirAsia Group BHD 392,400 383,538 
Alliance Bank Malaysia Bhd 255,500 282,211 
AMMB Holdings Bhd 423,600 418,585 
Astro Malaysia Holdings Bhd (d) 423,400 205,153 
Axiata Group Bhd 722,422 969,818 
British American Tobacco (Malaysia) Bhd 38,000 237,058 
Bumiputra-Commerce Holdings Bhd 1,214,701 2,214,866 
Dialog Group Bhd 754,222 589,675 
DiGi.com Bhd 779,900 915,885 
Felda Global Ventures Holdings Bhd (d) 380,300 164,671 
Gamuda Bhd 424,575 554,676 
Genting Bhd 602,900 1,369,880 
Genting Malaysia Bhd 738,600 962,128 
Genting Plantations Bhd 53,500 135,097 
Hap Seng Consolidated Bhd 156,100 388,609 
Hartalega Holdings Bhd 342,400 509,852 
Hong Leong Bank Bhd 166,000 800,718 
Hong Leong Credit Bhd 60,500 298,828 
IHH Healthcare Bhd (d) 551,500 852,478 
IJM Corp. Bhd 750,100 568,150 
IOI Corp. Bhd 540,400 656,871 
IOI Properties Group Bhd 524,000 208,193 
Kuala Lumpur Kepong Bhd 118,400 767,727 
Malayan Banking Bhd 1,120,586 3,073,618 
Malaysia Airports Holdings Bhd 207,198 474,930 
Maxis Bhd 524,200 776,737 
MISC Bhd 334,900 608,422 
Nestle (Malaysia) BHD 14,200 499,067 
Petronas Chemicals Group Bhd 601,800 1,293,560 
Petronas Dagangan Bhd 63,400 435,429 
Petronas Gas Bhd 185,600 840,188 
PPB Group Bhd 118,600 580,622 
Press Metal Bhd 337,200 411,611 
Public Bank Bhd 749,700 4,538,728 
RHB Capital Bhd 206,257 277,477 
RHB Capital Bhd (b)(c) 122,876 
SapuraKencana Petroleum Bhd 832,900 134,157 
Sime Darby Bhd 659,207 446,660 
Sime Darby Plantation Bhd 586,407 831,695 
Sime Darby Property Bhd 651,607 247,013 
SP Setia Bhd 410,702 332,715 
Telekom Malaysia Bhd 312,874 421,059 
Tenaga Nasional Bhd 874,725 3,524,030 
UMW Holdings Bhd (b) 112,100 174,130 
Westports Holdings Bhd 251,000 212,170 
YTL Corp. Bhd 1,207,412 444,002 
YTL Power International Bhd 472,275 110,340 
TOTAL MALAYSIA  35,143,027 
Malta - 0.0%   
Brait SA 97,539 337,040 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 1,853,400 480,562 
Mexico - 0.7%   
Alfa SA de CV Series A 763,200 979,809 
America Movil S.A.B. de CV Series L 8,646,346 8,002,772 
Banco Santander Mexico SA 451,500 669,209 
CEMEX S.A.B. de CV unit 3,770,840 2,359,037 
Coca-Cola FEMSA S.A.B. de CV Series L 133,400 866,149 
Compartamos S.A.B. de CV 218,200 174,424 
El Puerto de Liverpool S.A.B. de CV Class C 46,855 312,616 
Embotelladoras Arca S.A.B. de CV 108,762 751,713 
Fibra Uno Administracion SA de CV 817,400 1,353,588 
Fomento Economico Mexicano S.A.B. de CV unit 501,200 4,844,760 
Gruma S.A.B. de CV Series B 54,725 668,420 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 94,200 979,875 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 54,810 985,681 
Grupo Bimbo S.A.B. de CV Series A 422,000 982,227 
Grupo Carso SA de CV Series A1 109,400 393,095 
Grupo Financiero Banorte S.A.B. de CV Series O 643,300 4,025,172 
Grupo Financiero Inbursa S.A.B. de CV Series O 578,700 964,188 
Grupo Lala S.A.B. de CV (a) 158,800 203,106 
Grupo Mexico SA de CV Series B 986,023 3,277,772 
Grupo Televisa SA de CV 632,800 2,271,063 
Industrias Penoles SA de CV 35,325 741,441 
Infraestructura Energetica Nova S.A.B. de CV 134,000 589,894 
Kimberly-Clark de Mexico SA de CV Series A 374,300 679,270 
Mexichem S.A.B. de CV 279,716 873,755 
Promotora y Operadora de Infraestructura S.A.B. de CV 56,730 581,313 
Wal-Mart de Mexico SA de CV Series V 1,351,300 3,755,046 
TOTAL MEXICO  42,285,395 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 684,500 636,465 
HKT Trust/HKT Ltd. unit 943,640 1,241,534 
TOTAL MULTI-NATIONAL  1,877,999 
Netherlands - 3.1%   
ABN AMRO Group NV GDR 109,590 3,405,131 
AEGON NV 457,586 3,366,323 
AerCap Holdings NV (b) 35,131 1,831,379 
Airbus Group NV 149,185 17,511,809 
Akzo Nobel NV 64,681 5,850,347 
Akzo Nobel NV rights (b)(e) 64,681 151,531 
Altice NV:   
Class A (a)(b) 119,161 1,142,269 
Class B (b) 15,148 144,970 
ASML Holding NV (Netherlands) 99,687 18,960,168 
CNH Industrial NV 265,079 3,277,920 
EXOR NV 27,901 2,073,482 
Ferrari NV 31,626 3,897,448 
Fiat Chrysler Automobiles NV 276,144 6,192,566 
Heineken Holding NV 29,832 3,033,315 
Heineken NV (Bearer) 66,416 7,001,806 
ING Groep NV (Certificaten Van Aandelen) 998,106 16,818,607 
Koninklijke Ahold Delhaize NV 329,574 7,961,861 
Koninklijke Boskalis Westminster NV 22,649 672,012 
Koninklijke DSM NV 46,540 4,823,230 
Koninklijke KPN NV 868,595 2,703,272 
Koninklijke Philips Electronics NV 241,835 10,235,964 
NN Group NV 79,237 3,797,801 
NXP Semiconductors NV (b) 87,136 9,140,566 
QIAGEN NV (Germany) (b) 56,684 1,868,044 
Randstad NV 30,720 1,980,263 
RELX NV 248,159 5,278,807 
Steinhoff International Holdings NV (South Africa) 698,665 107,620 
STMicroelectronics NV (France) 164,206 3,585,486 
Unilever NV (Certificaten Van Aandelen) (Bearer) 418,454 23,989,377 
Vopak NV 17,406 859,697 
Wolters Kluwer NV 74,556 4,036,216 
TOTAL NETHERLANDS  175,699,287 
New Zealand - 0.1%   
Auckland International Airport Ltd. 243,181 1,091,632 
Fisher & Paykel Healthcare Corp. 149,130 1,337,830 
Fletcher Building Ltd. 206,041 914,764 
Mercury Nz Ltd. 180,037 404,090 
Meridian Energy Ltd. 319,370 660,644 
Ryman Healthcare Group Ltd. 106,484 794,175 
Spark New Zealand Ltd. 481,180 1,171,412 
TOTAL NEW ZEALAND  6,374,547 
Norway - 0.5%   
DNB ASA 251,477 4,702,960 
Gjensidige Forsikring ASA 49,447 784,022 
Marine Harvest ASA 106,430 2,317,041 
Norsk Hydro ASA 347,221 2,168,727 
Orkla ASA 210,325 1,949,012 
Schibsted ASA (B Shares) 24,606 662,515 
Statoil ASA 294,394 7,528,452 
Statoil ASA sponsored ADR 1,798 46,029 
Telenor ASA 192,381 4,258,142 
Yara International ASA (a) 45,825 1,936,437 
TOTAL NORWAY  26,353,337 
Pakistan - 0.0%   
Habib Bank Ltd. 130,200 219,347 
Lucky Cement Ltd. 28,800 164,771 
MCB Bank Ltd. 121,500 219,566 
Oil & Gas Development Co. Ltd. 143,300 206,735 
United Bank Ltd. 108,600 188,972 
TOTAL PAKISTAN  999,391 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 354,164 2,083,572 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 47,289 754,260 
Philippines - 0.2%   
Aboitiz Equity Ventures, Inc. 486,700 654,912 
Aboitiz Power Corp. 381,200 279,841 
Alliance Global Group, Inc. (b) 1,003,000 253,014 
Ayala Corp. 64,185 1,195,731 
Ayala Land, Inc. 1,919,400 1,510,554 
Bank of the Philippine Islands (BPI) 266,023 539,263 
BDO Unibank, Inc. 518,818 1,317,964 
DMCI Holdings, Inc. 1,042,100 221,848 
Globe Telecom, Inc. 8,555 255,092 
GT Capital Holdings, Inc. 21,925 445,055 
International Container Terminal Services, Inc. 132,360 216,214 
JG Summit Holdings, Inc. 711,390 877,663 
Jollibee Food Corp. 108,040 594,651 
Manila Electric Co. 52,500 326,414 
Megaworld Corp. 2,959,300 257,190 
Metro Pacific Investments Corp. 3,364,700 331,433 
Metropolitan Bank & Trust Co. 194,535 319,109 
Philippine Long Distance Telephone Co. 21,120 591,973 
Robinsons Land Corp. 561,242 193,855 
Security Bank Corp. 51,010 205,723 
SM Investments Corp. 63,910 1,157,453 
SM Prime Holdings, Inc. 2,260,075 1,491,684 
Universal Robina Corp. 222,490 604,745 
TOTAL PHILIPPINES  13,841,381 
Poland - 0.3%   
Alior Bank SA (b) 22,628 458,059 
Bank Handlowy w Warszawie SA 8,748 206,870 
Bank Millennium SA (b) 152,633 371,814 
Bank Polska Kasa Opieki SA 41,216 1,372,751 
Bank Zachodni WBK SA 9,211 974,676 
BRE Bank SA 3,667 448,626 
CD Projekt RED SA 18,049 641,770 
Cyfrowy Polsat SA 56,855 415,659 
Dino Polska SA (b)(d) 12,933 350,053 
Grupa Lotos SA 24,010 378,430 
Jastrzebska Spolka Weglowa SA (b) 12,440 293,540 
KGHM Polska Miedz SA (Bearer) 36,579 975,899 
LPP SA 322 841,272 
NG2 SA 7,379 544,514 
Polish Oil & Gas Co. SA 464,533 817,931 
Polska Grupa Energetyczna SA (b) 210,800 628,823 
Polski Koncern Naftowy Orlen SA 77,099 1,970,392 
Powszechna Kasa Oszczednosci Bank SA (b) 242,994 2,896,668 
Powszechny Zaklad Ubezpieczen SA 156,175 1,909,777 
Tauron Polska Energia SA (b) 230,998 154,663 
Telekomunikacja Polska SA (b) 171,368 257,307 
Zaklady Azotowe w Tarnowie-Moscicach SA 9,795 149,303 
TOTAL POLAND  17,058,797 
Portugal - 0.1%   
Banco Espirito Santo SA (Reg.) (b)(c) 319,729 
Energias de Portugal SA 611,165 2,270,220 
Galp Energia SGPS SA Class B 128,790 2,475,209 
Jeronimo Martins SGPS SA 63,813 1,120,461 
TOTAL PORTUGAL  5,865,894 
Qatar - 0.1%   
Barwa Real Estate Co. 22,327 216,770 
Doha Bank 39,212 291,748 
Ezdan Holding Group (b) 192,783 593,545 
Industries Qatar QSC (b) 39,457 1,213,728 
Masraf al Rayan 97,569 953,448 
Qatar Electricity & Water Co. 7,219 392,574 
Qatar Gas Transport Co. Ltd. (Nakilat) 69,900 282,019 
Qatar Insurance Co. SAQ 39,947 400,238 
Qatar Islamic Bank 16,494 484,763 
Qatar National Bank SAQ 58,828 2,439,722 
Qatar Telecom (Qtel) Q.S.C. (b) 20,243 440,331 
The Commercial Bank of Qatar 49,643 492,885 
TOTAL QATAR  8,201,771 
Russia - 0.8%   
Alrosa Co. Ltd. 638,000 907,875 
Gazprom OAO 638,234 1,479,018 
Gazprom OAO sponsored ADR (Reg. S) 1,057,398 4,893,638 
Inter Rao Ues JSC 7,705,000 489,420 
Lukoil PJSC 20,079 1,326,470 
Lukoil PJSC sponsored ADR 89,585 5,984,278 
Magnit OJSC GDR (Reg. S) 92,439 1,755,417 
Magnitogorsk Iron & Steel Works PJSC 574,900 444,418 
MMC Norilsk Nickel PJSC 6,216 1,061,761 
MMC Norilsk Nickel PJSC sponsored ADR 98,554 1,694,636 
Mobile TeleSystems OJSC sponsored ADR 131,921 1,385,171 
Moscow Exchange MICEX-RTS OAO 389,190 746,273 
NOVATEK OAO GDR (Reg. S) 23,116 2,935,732 
Novolipetsk Steel OJSC 295,140 755,326 
PhosAgro OJSC GDR (Reg. S) 27,902 402,347 
Polyus PJSC 6,740 427,588 
Rosneft Oil Co. OJSC 89,466 544,134 
Rosneft Oil Co. OJSC GDR (Reg. S) 217,412 1,324,909 
RusHydro PJSC 4,764,700 56,369 
RusHydro PJSC ADR 207,336 235,534 
Sberbank of Russia 2,775,703 9,893,980 
Severstal PAO 11,789 189,436 
Severstal PAO GDR (Reg. S) 39,925 637,602 
Surgutneftegas OJSC 10,100 4,722 
Surgutneftegas OJSC sponsored ADR 201,700 947,587 
Tatneft PAO 136,580 1,455,429 
Tatneft PAO sponsored ADR 42,623 2,749,184 
VTB Bank OJSC (b) 1,287,958,000 1,103,833 
TOTAL RUSSIA  45,832,087 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 645,500 1,294,932 
CapitaCommercial Trust (REIT) 624,450 853,122 
CapitaLand Ltd. 675,600 1,905,090 
CapitaMall Trust 655,000 1,034,355 
City Developments Ltd. 105,700 1,004,457 
ComfortDelgro Corp. Ltd. 536,700 905,836 
DBS Group Holdings Ltd. 461,241 10,641,793 
Hutchison Port Holdings Trust 1,291,000 430,421 
Jardine Cycle & Carriage Ltd. 24,693 635,322 
Keppel Corp. Ltd. 368,000 2,257,004 
Oversea-Chinese Banking Corp. Ltd. 809,525 8,361,251 
Sembcorp Industries Ltd. 239,100 550,748 
Singapore Airlines Ltd. 142,800 1,165,158 
Singapore Airport Terminal Service Ltd. 176,200 732,181 
Singapore Exchange Ltd. 206,900 1,199,818 
Singapore Press Holdings Ltd. 396,700 810,631 
Singapore Technologies Engineering Ltd. 402,600 1,053,538 
Singapore Telecommunications Ltd. 2,107,000 5,573,217 
StarHub Ltd. 143,600 244,970 
Suntec (REIT) 623,100 915,899 
United Overseas Bank Ltd. 344,589 7,802,952 
UOL Group Ltd. 131,821 870,628 
Wilmar International Ltd. 409,600 1,002,057 
Yangzijiang Shipbuilding Holdings Ltd. 570,400 498,098 
TOTAL SINGAPORE  51,743,478 
South Africa - 1.6%   
Anglo American Platinum Ltd. 13,479 361,711 
AngloGold Ashanti Ltd. 103,625 926,269 
Aspen Pharmacare Holdings Ltd. 99,753 2,150,841 
Barclays Africa Group Ltd. 187,489 2,746,203 
Bidcorp Ltd. 86,470 1,987,792 
Bidvest Group Ltd. 87,352 1,711,152 
Capitec Bank Holdings Ltd. 10,868 773,737 
Coronation Fund Managers Ltd. 57,492 341,409 
Discovery Ltd. 88,928 1,234,754 
Exxaro Resources Ltd. 65,000 576,548 
FirstRand Ltd. 861,720 4,614,965 
Fortress (REIT) Ltd.:   
Class A 311,745 429,031 
Class B 197,487 275,221 
Foschini Ltd. 59,003 1,015,175 
Gold Fields Ltd. 206,386 783,555 
Growthpoint Properties Ltd. 762,085 1,763,103 
Hyprop Investments Ltd. 68,970 629,667 
Imperial Holdings Ltd. 37,757 726,297 
Investec Ltd. 69,873 551,182 
Kumba Iron Ore Ltd. 15,090 322,360 
Liberty Holdings Ltd. 30,565 322,048 
Life Healthcare Group Holdings Ltd. 332,042 782,717 
MMI Holdings Ltd. 255,346 454,562 
Mondi Ltd. 29,595 863,430 
Mr Price Group Ltd. 63,210 1,387,071 
MTN Group Ltd. 435,612 4,372,108 
Naspers Ltd. Class N 112,644 27,442,282 
Nedbank Group Ltd. 58,607 1,397,661 
Netcare Ltd. 254,179 632,928 
Pick 'n Pay Stores Ltd. 92,520 598,948 
Pioneer Foods Ltd. 32,222 313,374 
PSG Group Ltd. 40,086 721,245 
Rand Merchant Insurance Holdings Ltd. 187,400 620,622 
Redefine Properties Ltd. 1,327,654 1,275,894 
Remgro Ltd. 135,471 2,438,969 
Resilient Property Income Fund Ltd. 73,882 401,994 
RMB Holdings Ltd. 183,972 1,153,922 
Sanlam Ltd. 360,270 2,275,833 
Sappi Ltd. 147,129 938,929 
Sasol Ltd. 142,185 5,082,739 
Shoprite Holdings Ltd. 113,573 2,259,628 
Sibanye-Stillwater 431,450 378,192 
Spar Group Ltd. 47,869 804,717 
Standard Bank Group Ltd. 330,917 5,675,425 
Telkom SA Ltd. 68,062 310,829 
Tiger Brands Ltd. 42,005 1,312,799 
Truworths International Ltd. 116,084 949,054 
Vodacom Group Ltd. 152,723 1,909,329 
Woolworths Holdings Ltd. 261,537 1,344,074 
TOTAL SOUTH AFRICA  92,342,295 
Spain - 2.2%   
Abertis Infraestructuras SA 174,759 3,853,572 
ACS Actividades de Construccion y Servicios SA 61,459 2,590,176 
Aena Sme SA (d) 17,425 3,600,360 
Amadeus IT Holding SA Class A 112,228 8,226,461 
Banco Bilbao Vizcaya Argentaria SA 1,713,818 13,868,315 
Banco de Sabadell SA 1,358,772 2,668,848 
Banco Santander SA:   
(Spain) 4,128,170 26,785,362 
(Spain) sponsored ADR (a) 13,477 87,870 
Bankia SA 323,776 1,425,947 
Bankinter SA 174,393 1,827,982 
CaixaBank SA 922,662 4,486,789 
Enagas SA 58,814 1,714,514 
Endesa SA 82,125 1,921,003 
Ferrovial SA 125,128 2,679,840 
Gamesa Corporacion Tecnologica SA (a) 62,218 1,071,793 
Gas Natural SDG SA 89,902 2,270,108 
Grifols SA 76,830 2,166,411 
Iberdrola SA 1,489,710 11,542,216 
Inditex SA 280,437 8,730,545 
International Consolidated Airlines Group SA 160,468 1,389,798 
MAPFRE SA (Reg.) 284,336 990,262 
Red Electrica Corporacion SA 111,318 2,318,801 
Repsol SA 321,560 6,154,806 
Telefonica SA 1,198,038 12,208,591 
TOTAL SPAIN  124,580,370 
Sweden - 1.7%   
Alfa Laval AB 75,675 1,881,364 
ASSA ABLOY AB (B Shares) 257,654 5,419,866 
Atlas Copco AB:   
(A Shares) 172,865 6,792,877 
(B Shares) 99,240 3,539,327 
Boliden AB 70,771 2,463,385 
Electrolux AB (B Shares) 62,166 1,642,066 
Essity AB Class B 156,114 3,975,655 
Getinge AB (B Shares) 57,016 531,702 
H&M Hennes & Mauritz AB (B Shares) (a) 244,538 4,202,236 
Hexagon AB (B Shares) 66,447 3,854,793 
Husqvarna AB (B Shares) 103,709 1,000,061 
ICA Gruppen AB (a) 21,152 658,233 
Industrivarden AB (C Shares) 41,365 874,619 
Investor AB (B Shares) 116,921 5,115,248 
Kinnevik AB (B Shares) 60,207 2,180,245 
Lundbergfoeretagen AB 9,216 626,212 
Lundin Petroleum AB 48,460 1,340,354 
Nordea Bank AB 781,176 7,973,541 
Sandvik AB 289,574 4,960,356 
Securitas AB (B Shares) 78,255 1,269,002 
Skandinaviska Enskilda Banken AB (A Shares) 392,530 3,698,187 
Skanska AB (B Shares) 88,087 1,723,182 
SKF AB (B Shares) 97,522 1,982,926 
Svenska Handelsbanken AB (A Shares) 393,770 4,391,427 
Swedbank AB (A Shares) 233,377 5,089,085 
Swedish Match Co. AB 46,911 2,110,731 
Tele2 AB (B Shares) 93,198 1,213,315 
Telefonaktiebolaget LM Ericsson (B Shares) 791,418 6,033,352 
TeliaSonera AB 721,904 3,559,788 
Volvo AB (B Shares) 401,130 6,834,645 
TOTAL SWEDEN  96,937,780 
Switzerland - 5.1%   
ABB Ltd. (Reg.) 473,510 11,040,159 
Adecco SA (Reg.) 41,223 2,742,931 
Baloise Holdings AG 12,752 2,029,254 
Barry Callebaut AG 551 993,579 
Clariant AG (Reg.) 60,680 1,408,927 
Coca-Cola HBC AG 47,326 1,592,357 
Compagnie Financiere Richemont SA Series A 134,004 12,738,252 
Credit Suisse Group AG 623,277 10,512,341 
Credit Suisse Group AG sponsored ADR 421 7,060 
Dufry AG 8,813 1,252,584 
Ems-Chemie Holding AG 2,153 1,336,120 
Galenica AG 12,589 1,997,599 
Geberit AG (Reg.) 9,531 4,083,615 
Givaudan SA 2,370 5,306,791 
Julius Baer Group Ltd. 57,805 3,430,633 
Kuehne & Nagel International AG 14,107 2,206,443 
Lafargeholcim Ltd. (Reg.) 117,079 6,540,357 
Lindt & Spruengli AG 26 1,978,204 
Lindt & Spruengli AG (participation certificate) 267 1,718,930 
Lonza Group AG 19,120 4,711,508 
Nestle SA (Reg. S) 799,028 61,900,774 
Novartis AG 571,331 43,977,813 
Pargesa Holding SA 9,561 898,695 
Partners Group Holding AG 4,489 3,290,876 
Roche Holding AG (participation certificate) 180,482 40,100,839 
Schindler Holding AG:   
(participation certificate) 10,354 2,148,115 
(Reg.) 5,234 1,051,553 
SGS SA (Reg.) 1,381 3,368,191 
Sika AG 542 3,954,248 
Sonova Holding AG Class B 13,557 2,246,276 
Straumann Holding AG 2,673 1,827,404 
Swatch Group AG (Bearer) 7,990 3,857,936 
Swatch Group AG (Bearer) (Reg.) 14,002 1,252,550 
Swiss Life Holding AG 8,255 2,902,994 
Swiss Prime Site AG 18,578 1,744,382 
Swiss Re Ltd. 80,753 7,713,500 
Swisscom AG 6,667 3,209,040 
UBS Group AG 931,627 15,765,272 
UBS Group AG 7,544 126,739 
Zurich Insurance Group AG 38,823 12,401,446 
TOTAL SWITZERLAND  291,366,287 
Taiwan - 2.7%   
Acer, Inc. 703,060 535,234 
Advantech Co. Ltd. 91,465 626,795 
ASE Industrial Holding Co. Ltd. 862,943 2,323,916 
Asia Cement Corp. 621,785 662,379 
Asia Pacific Telecom Co. Ltd. (b) 561,000 166,058 
ASUSTeK Computer, Inc. 182,422 1,701,828 
AU Optronics Corp. 2,299,000 946,327 
Catcher Technology Co. Ltd. 166,000 1,837,708 
Cathay Financial Holding Co. Ltd. 2,101,227 3,762,413 
Chang Hwa Commercial Bank 1,173,835 674,507 
Cheng Shin Rubber Industry Co. Ltd. 491,513 791,149 
Chicony Electronics Co. Ltd. 141,165 347,176 
China Airlines Ltd. (b) 708,835 258,109 
China Development Finance Holding Corp. 3,735,819 1,410,004 
China Life Insurance Co. Ltd. 595,875 644,453 
China Steel Corp. 3,253,421 2,569,894 
Chinatrust Financial Holding Co. Ltd. 4,539,255 3,231,495 
Chunghwa Picture Tubes, Ltd. (b) 551 34 
Chunghwa Telecom Co. Ltd. 974,400 3,701,092 
Compal Electronics, Inc. 1,047,394 681,014 
Delta Electronics, Inc. 502,383 1,818,169 
E.SUN Financial Holdings Co. Ltd. 2,381,544 1,681,135 
ECLAT Textile Co. Ltd. 48,420 583,126 
EVA Airways Corp. 431,498 231,300 
Evergreen Marine Corp. (Taiwan) (b) 439,683 222,002 
Far Eastern Textile Ltd. 781,032 744,129 
Far EasTone Telecommunications Co. Ltd. 409,000 1,080,186 
Feng Tay Enterprise Co. Ltd. 83,760 379,145 
First Financial Holding Co. Ltd. 2,367,268 1,624,632 
Formosa Chemicals & Fibre Corp. 752,620 2,760,341 
Formosa Petrochemical Corp. 339,000 1,380,787 
Formosa Plastics Corp. 1,063,640 3,725,958 
Formosa Taffeta Co. Ltd. 161,000 181,715 
Foxconn Technology Co. Ltd. 228,811 567,105 
Fubon Financial Holding Co. Ltd. 1,707,487 2,916,092 
Giant Manufacturing Co. Ltd. 80,042 405,792 
GlobalWafers Co. Ltd. 54,000 869,614 
Highwealth Construction Corp. 239,400 367,924 
HIWIN Technologies Corp. 53,472 804,071 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 4,004,742 11,118,988 
Hotai Motor Co. Ltd. 73,000 714,268 
HTC Corp. (b) 171,057 346,185 
Hua Nan Financial Holdings Co. Ltd. 1,884,074 1,137,344 
Innolux Corp. 2,254,819 837,591 
Inventec Corp. 627,209 474,359 
Largan Precision Co. Ltd. 26,000 3,018,658 
Lite-On Technology Corp. 521,053 686,370 
Macronix International Co. Ltd. (b) 448,000 710,431 
MediaTek, Inc. 385,989 4,382,310 
Mega Financial Holding Co. Ltd. 2,815,833 2,481,435 
Micro-Star International Co. Ltd. 173,000 539,349 
Nan Ya Plastics Corp. 1,225,980 3,351,995 
Nanya Technology Corp. 261,000 811,023 
Nien Made Enterprise Co. Ltd. 38,000 336,939 
Novatek Microelectronics Corp. 147,000 615,944 
Pegatron Corp. 514,652 1,197,772 
Phison Electronics Corp. 38,199 345,197 
Pou Chen Corp. 558,240 696,884 
Powertech Technology, Inc. 178,700 510,645 
President Chain Store Corp. 148,000 1,452,184 
Quanta Computer, Inc. 678,000 1,230,503 
Realtek Semiconductor Corp. 112,744 425,609 
Ruentex Development Co. Ltd. 219,580 262,466 
Ruentex Industries Ltd. 159,484 308,469 
Shin Kong Financial Holding Co. Ltd. 2,066,637 838,439 
Sinopac Holdings Co. 2,591,246 930,849 
Standard Foods Corp. 197,981 443,223 
Synnex Technology International Corp. 381,920 547,542 
TaiMed Biologics, Inc. (b) 42,000 435,779 
Taishin Financial Holdings Co. Ltd. 2,427,397 1,177,433 
Taiwan Business Bank 850,142 260,792 
Taiwan Cement Corp. 890,110 1,221,045 
Taiwan Cooperative Financial Holding Co. Ltd. 2,063,961 1,197,165 
Taiwan High Speed Rail Corp. 465,000 356,534 
Taiwan Mobile Co. Ltd. 419,400 1,546,061 
Taiwan Semiconductor Manufacturing Co. Ltd. 6,327,000 48,109,557 
TECO Electric & Machinery Co. Ltd. 464,000 375,945 
Unified-President Enterprises Corp. 1,249,620 3,002,091 
United Microelectronics Corp. 3,113,000 1,675,781 
Vanguard International Semiconductor Corp. 229,000 463,364 
Win Semiconductors Corp. 91,000 681,136 
Winbond Electronics Corp. 754,000 460,669 
Wistron Corp. 693,973 550,872 
WPG Holding Co. Ltd. 414,107 556,252 
Yageo Corp. 53,000 1,108,964 
Yuanta Financial Holding Co. Ltd. 2,656,085 1,265,378 
TOTAL TAIWAN  154,412,597 
Thailand - 0.6%   
Advanced Info Service PCL (For. Reg.) 263,800 1,736,358 
Airports of Thailand PCL (For. Reg.) 1,091,300 2,454,741 
Bangkok Bank PCL (For. Reg.) 61,400 391,147 
Bangkok Dusit Medical Services PCL (For. Reg.) 999,000 711,413 
Bangkok Expressway and Metro PCL 2,051,200 502,520 
Banpu PCL (For. Reg.) 491,700 300,125 
Berli Jucker PCL (For. Reg) 300,500 567,140 
BTS Group Holdings PCL 1,443,600 406,801 
Bumrungrad Hospital PCL (For. Reg.) 89,200 535,374 
C.P. ALL PCL (For. Reg.) 1,270,000 3,493,135 
Central Pattana PCL (For. Reg.) 337,100 859,964 
Charoen Pokphand Foods PCL (For. Reg.) 757,340 584,335 
Delta Electronics PCL (For. Reg.) 133,500 284,069 
Electricity Generating PCL (For. Reg.) 33,700 237,533 
Energy Absolute PCL 288,000 325,561 
Glow Energy PCL (For. Reg.) 132,200 359,997 
Home Product Center PCL (For. Reg.) 1,015,447 480,278 
Indorama Ventures PCL (For. Reg.) 421,000 798,813 
IRPC PCL (For. Reg.) 2,659,300 591,592 
Kasikornbank PCL 51,900 328,946 
Kasikornbank PCL (For. Reg.) 433,700 2,748,820 
KCE Electronics PCL 65,200 141,075 
Krung Thai Bank PCL (For. Reg.) 859,575 493,617 
Minor International PCL (For. Reg.) 603,770 766,754 
PTT Exploration and Production PCL (For. Reg.) 358,651 1,519,389 
PTT Global Chemical PCL (For. Reg.) 572,486 1,768,769 
PTT PCL (For. Reg.) 2,711,000 4,822,695 
Robinsons Department Store PCL (For. Reg.) 133,500 277,465 
Siam Cement PCL (For. Reg.) 107,650 1,591,838 
Siam Commercial Bank PCL (For. Reg.) 472,100 1,954,880 
Thai Oil PCL (For. Reg.) 279,200 830,899 
Thai Union Frozen Products PCL (For. Reg.) 482,500 274,380 
TMB PCL (For. Reg.) 2,775,500 206,703 
True Corp. PCL (For. Reg.) 2,444,035 587,765 
TOTAL THAILAND  33,934,891 
Turkey - 0.2%   
Akbank T.A.S. 582,362 1,212,866 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 51,893 340,324 
Arcelik A/S 51,346 228,536 
Aselsan A/S 50,345 312,325 
Bim Birlesik Magazalar A/S JSC 52,494 891,032 
Coca-Cola Icecek Sanayi A/S 23,431 207,309 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 527,174 315,362 
Eregli Demir ve Celik Fabrikalari T.A.S. 346,987 867,873 
Ford Otomotiv Sanayi A/S 18,668 258,046 
Haci Omer Sabanci Holding A/S 225,010 532,876 
Koc Holding A/S 189,692 640,697 
Petkim Petrokimya Holding A/S 183,464 324,283 
TAV Havalimanlari Holding A/S 41,866 224,475 
Tofas Turk Otomobil Fabrikasi A/S 33,412 205,797 
Tupras Turkiye Petrol Rafinerileri A/S 33,133 844,210 
Turk Hava Yollari AO (b) 149,951 616,844 
Turk Sise ve Cam Fabrikalari A/S 197,616 219,406 
Turk Telekomunikasyon (b) 121,021 187,098 
Turkcell Iletisim Hizmet A/S 275,170 945,662 
Turkiye Garanti Bankasi A/S 608,115 1,378,779 
Turkiye Halk Bankasi A/S 144,789 294,775 
Turkiye Is Bankasi A/S Series C 418,549 634,712 
Turkiye Vakiflar Bankasi TAO 185,286 272,312 
Ulker Biskuvi Sanayi A/S 39,964 209,555 
Yapi ve Kredi Bankasi A/S (b) 200,595 196,541 
TOTAL TURKEY  12,361,695 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 545,467 1,043,963 
Aldar Properties PJSC 771,163 440,887 
Damac Properties Dubai Co. PJSC (b) 465,565 351,092 
DP World Ltd. 42,944 955,504 
Dubai Investments Ltd. 343,773 177,823 
Dubai Islamic Bank Pakistan Ltd. 318,621 477,088 
Dubai Parks and Resorts PJSC (b) 660,937 69,456 
Emaar Malls Group PJSC (b) 497,176 300,486 
Emaar Properties PJSC 913,587 1,440,091 
Emirates Telecommunications Corp. 448,479 2,093,956 
National Bank of Abu Dhabi PJSC 386,294 1,304,070 
TOTAL UNITED ARAB EMIRATES  8,654,416 
United Kingdom - 11.0%   
3i Group PLC 252,740 3,276,270 
Admiral Group PLC 52,523 1,441,107 
Anglo American PLC (United Kingdom) 342,529 8,060,841 
Antofagasta PLC 103,704 1,388,289 
Ashtead Group PLC 128,704 3,602,208 
Associated British Foods PLC 91,998 3,424,715 
AstraZeneca PLC (United Kingdom) 325,118 22,759,032 
Auto Trader Group PLC (d) 250,763 1,218,489 
Aviva PLC 1,029,136 7,477,365 
Babcock International Group PLC 61,857 626,596 
BAE Systems PLC 818,715 6,869,204 
Barclays PLC 4,379,192 12,485,534 
Barratt Developments PLC 262,250 2,014,601 
Berkeley Group Holdings PLC 33,473 1,876,470 
BHP Billiton PLC 542,386 11,564,987 
BP PLC 5,077,159 37,712,965 
British American Tobacco PLC (United Kingdom) 589,075 32,309,297 
British Land Co. PLC 245,517 2,272,734 
BT Group PLC 2,165,418 7,432,453 
Bunzl PLC 85,428 2,482,720 
Burberry Group PLC 110,682 2,778,575 
Capita Group PLC 162,358 428,149 
Carnival PLC 48,081 3,125,042 
Centrica PLC 1,438,837 3,046,543 
Cobham PLC (b) 633,066 1,003,145 
Coca-Cola European Partners PLC 56,585 2,218,132 
Compass Group PLC 406,561 8,731,516 
ConvaTec Group PLC (d) 338,870 1,013,287 
Croda International PLC 33,751 2,072,804 
Diageo PLC 639,814 22,825,167 
Direct Line Insurance Group PLC 354,878 1,828,682 
easyJet PLC 39,124 856,406 
Fresnillo PLC 57,342 1,006,520 
G4S PLC (United Kingdom) 407,597 1,452,788 
GKN PLC 425,257 2,700,236 
GlaxoSmithKline PLC 1,263,626 25,344,758 
Hammerson PLC 208,910 1,578,959 
Hargreaves Lansdown PLC 67,681 1,667,392 
HSBC Holdings PLC (United Kingdom) 5,131,791 51,092,029 
IMI PLC 68,414 1,028,506 
Imperial Tobacco Group PLC 245,442 8,800,606 
InterContinental Hotel Group PLC 46,942 2,965,644 
Intertek Group PLC 40,938 2,762,171 
Investec PLC 175,290 1,393,392 
ITV PLC 939,068 1,960,554 
J Sainsbury PLC 430,792 1,832,590 
John Wood Group PLC 175,104 1,370,699 
Johnson Matthey PLC 49,816 2,259,081 
Kingfisher PLC 559,806 2,334,634 
Land Securities Group PLC 190,304 2,589,524 
Legal & General Group PLC 1,527,246 5,676,911 
Lloyds Banking Group PLC 18,475,984 16,387,233 
London Stock Exchange Group PLC 80,064 4,739,637 
Marks & Spencer Group PLC 425,797 1,683,621 
Mediclinic International PLC 43,469 401,552 
Mediclinic International PLC 47,912 444,684 
Meggitt PLC 193,699 1,259,727 
Melrose Industries PLC 525,420 1,649,228 
Merlin Entertainments PLC (d) 177,438 898,458 
Micro Focus International PLC 112,040 1,931,921 
Mondi PLC 93,576 2,610,016 
National Grid PLC 868,085 10,072,241 
Next PLC 37,689 2,727,152 
Old Mutual PLC 1,266,532 4,386,985 
Pearson PLC 202,976 2,327,048 
Pearson PLC sponsored ADR (a) 4,952 56,552 
Persimmon PLC 78,299 2,926,613 
Prudential PLC 663,698 17,066,370 
Reckitt Benckiser Group PLC 171,728 13,471,732 
RELX PLC 273,221 5,847,148 
Rio Tinto PLC 311,181 16,961,214 
Rolls-Royce Holdings PLC 425,522 4,920,856 
Royal Bank of Scotland Group PLC (b) 921,594 3,412,847 
Royal Dutch Shell PLC:   
Class A 75,363 2,637,235 
Class A (United Kingdom) 1,092,057 37,993,991 
Class B (United Kingdom) 962,045 34,343,914 
Royal Mail PLC 234,375 1,875,324 
RSA Insurance Group PLC 262,674 2,377,312 
Sage Group PLC 275,293 2,407,382 
Schroders PLC 32,438 1,474,141 
Scottish & Southern Energy PLC 261,285 4,958,825 
Segro PLC 256,336 2,280,425 
Severn Trent PLC 60,979 1,628,626 
SKY PLC 264,892 5,025,247 
Smith & Nephew PLC 225,394 4,316,530 
Smiths Group PLC 102,514 2,254,568 
St. James's Place Capital PLC 136,674 2,138,428 
Standard Chartered PLC (United Kingdom) 847,175 8,945,566 
Standard Life PLC 691,636 3,478,296 
Taylor Wimpey PLC 847,476 2,237,186 
Tesco PLC 2,499,347 8,095,232 
The Weir Group PLC 58,003 1,705,654 
Travis Perkins PLC 62,944 1,099,652 
Unilever PLC 316,487 17,752,408 
United Utilities Group PLC 175,612 1,796,798 
Vodafone Group PLC 6,844,588 19,973,981 
Whitbread PLC 46,739 2,754,634 
WM Morrison Supermarkets PLC 583,455 1,952,683 
TOTAL UNITED KINGDOM  631,727,192 
United States of America - 0.1%   
Southern Copper Corp. (a) 21,922 1,157,701 
Yum China Holdings, Inc. 99,102 4,237,602 
TOTAL UNITED STATES OF AMERICA  5,395,303 
TOTAL COMMON STOCKS   
(Cost $4,667,330,864)  5,516,990,077 
Nonconvertible Preferred Stocks - 1.4%   
Brazil - 0.7%   
Ambev SA sponsored ADR 39,361 260,570 
Banco Bradesco SA:   
(PN) 833,923 8,229,253 
(PN) sponsored ADR 28,180 276,168 
Brasil Foods SA sponsored ADR (a)(b) 5,717 40,762 
Braskem SA (PN-A) 42,500 553,815 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 50,400 328,020 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 39,001 876,498 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 247,765 598,336 
Gerdau SA 270,650 1,286,345 
Itau Unibanco Holding SA 789,874 11,501,334 
Itau Unibanco Holding SA sponsored ADR 41,228 599,043 
Itausa-Investimentos Itau SA (PN) 1,041,530 4,046,364 
Lojas Americanas SA (PN) 187,137 1,065,707 
Petroleo Brasileiro SA - Petrobras:   
(PN) (non-vtg.) (b) 939,740 6,161,746 
(PN) sponsored ADR (non-vtg.) (a)(b) 35,440 466,036 
sponsored ADR (b) 6,520 91,867 
Telefonica Brasil SA 116,140 1,629,116 
TOTAL BRAZIL  38,010,980 
Chile - 0.0%   
Embotelladora Andina SA Class B 72,014 358,086 
Sociedad Quimica y Minera de Chile SA (PN-B) 25,245 1,378,852 
TOTAL CHILE  1,736,938 
Colombia - 0.0%   
Bancolombia SA (PN) 114,016 1,351,653 
Grupo Aval Acciones y Valores SA 883,928 388,632 
Grupo de Inversiones Suramerica SA (b) 31,553 410,005 
TOTAL COLOMBIA  2,150,290 
France - 0.1%   
Air Liquide SA (b) 36,543 4,749,727 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 14,512 1,405,480 
Fuchs Petrolub AG 18,121 974,665 
Henkel AG & Co. KGaA 45,575 5,800,833 
Porsche Automobil Holding SE (Germany) 39,570 3,383,159 
Volkswagen AG 47,567 9,870,818 
TOTAL GERMANY  21,434,955 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 1,666,717 1,435,075 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 2,690 448,365 
Hyundai Motor Co. 6,902 663,824 
Hyundai Motor Co. Series 2 8,503 913,084 
LG Chemical Ltd. 2,035 391,447 
LG Household & Health Care Ltd. 623 447,940 
Samsung Electronics Co. Ltd. 4,364 8,614,536 
TOTAL KOREA (SOUTH)  11,479,196 
Russia - 0.0%   
AK Transneft OAO 131 358,743 
Surgutneftegas OJSC 1,681,417 827,458 
TOTAL RUSSIA  1,186,201 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (b) 30,212,062 41,593 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $68,209,123)  82,224,955 
 Principal Amount(f) Value 
Nonconvertible Bonds - 0.0%   
India - 0.0%   
NTPC Ltd. 8.49% 3/25/25
(Cost $46,681) 
INR233,068 48,262 
U.S. Government and Government Agency Obligations - 0.2%   
U.S. Treasury Obligations - 0.2%   
U.S. Treasury Bills, yield at date of purchase 1.19% to 1.9% 5/31/18 to 9/27/18 (g)   
(Cost $7,976,356) 8,000,000 7,973,940 
 Shares Value 
Money Market Funds - 3.5%   
Fidelity Cash Central Fund, 1.74% (h) 113,242,045 $113,264,693 
Fidelity Securities Lending Cash Central Fund 1.74% (h)(i) 86,396,020 86,404,660 
TOTAL MONEY MARKET FUNDS   
(Cost $199,672,669)  199,669,353 
TOTAL INVESTMENT IN SECURITIES - 101.4%   
(Cost $4,943,235,693)  5,806,906,587 
NET OTHER ASSETS (LIABILITIES) - (1.4)%  (79,155,019) 
NET ASSETS - 100%  $5,727,751,568 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 887 June 2018 $89,875,275 $1,590,790 $1,590,790 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 564 June 2018 32,492,040 (256,120) (256,120) 
TME S&P/TSX 60 Index Contracts (Canada) 57 June 2018 8,167,655 148,000 148,000 
TOTAL FUTURES CONTRACTS     $1,482,670 

The notional amount of futures purchased as a percentage of Net Assets is 2.3%

Currency Abbreviations

INR – Indian rupee

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

Legend

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

 (b) Non-income producing

 (c) Level 3 security

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $32,403,806 or 0.6% of net assets.

 (e) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

 (f) Amount is stated in United States dollars unless otherwise noted.

 (g) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $6,786,568.

 (h) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (i) Investment made with cash collateral received from securities on loan.


Affiliated Central Funds

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 $1,039,722 
Fidelity Securities Lending Cash Central Fund 350,628 
Total $1,390,350 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $639,266,392 $388,183,667 $251,082,725 $-- 
Consumer Staples 523,147,818 251,011,895 272,112,003 23,920 
Energy 398,196,834 156,743,025 241,453,809 -- 
Financials 1,293,601,052 582,607,021 710,994,027 
Health Care 424,915,160 124,441,629 300,473,531 -- 
Industrials 656,978,009 453,157,096 203,148,434 672,479 
Information Technology 646,213,599 357,601,067 288,204,573 407,959 
Materials 452,218,429 264,007,081 188,211,348 -- 
Real Estate 179,326,832 74,490,208 104,836,624 -- 
Telecommunication Services 221,941,102 47,242,679 174,698,423 -- 
Utilities 163,409,805 96,844,978 66,564,827 -- 
Corporate Bonds 48,262 -- 48,262 -- 
U.S. Government and Government Agency Obligations 7,973,940 -- 7,973,940 -- 
Money Market Funds 199,669,353 199,669,353 -- -- 
Total Investments in Securities: $5,806,906,587 $2,995,999,699 $2,809,802,526 $1,104,362 
Derivative Instruments:     
Assets     
Futures Contracts $1,738,790 $1,738,790 $-- $-- 
Total Assets $1,738,790 $1,738,790 $-- $-- 
Liabilities     
Futures Contracts $(256,120) $(256,120) $-- $-- 
Total Liabilities $(256,120) $(256,120) $-- $-- 
Total Derivative Instruments: $1,482,670 $1,482,670 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $960,290,708 
Level 2 to Level 1 $683,924,523 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $1,738,790 $(256,120) 
Total Equity Risk 1,738,790 (256,120) 
Total Value of Derivatives $1,738,790 $(256,120) 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $84,278,487) — See accompanying schedule:
Unaffiliated issuers (cost $4,743,563,024) 
$5,607,237,234  
Fidelity Central Funds (cost $199,672,669) 199,669,353  
Total Investment in Securities (cost $4,943,235,693)  $5,806,906,587 
Cash  6,369 
Foreign currency held at value (cost $5,062,695)  5,033,716 
Receivable for investments sold   
Regular delivery  1,333,929 
Delayed delivery  1,626,281 
Receivable for fund shares sold  555,730 
Dividends receivable  23,766,678 
Distributions receivable from Fidelity Central Funds  331,283 
Other receivables  936 
Total assets  5,839,561,509 
Liabilities   
Payable for investments purchased   
Regular delivery $872,637  
Delayed delivery 151,531  
Payable for fund shares redeemed 21,906,931  
Accrued management fee 283,007  
Payable for daily variation margin on futures contracts 769,774  
Other payables and accrued expenses 1,410,119  
Collateral on securities loaned 86,415,942  
Total liabilities  111,809,941 
Net Assets  $5,727,751,568 
Net Assets consist of:   
Paid in capital  $4,904,290,589 
Undistributed net investment income  52,178,114 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (92,267,431) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  863,550,296 
Net Assets, for 431,036,055 shares outstanding  $5,727,751,568 
Net Asset Value, offering price and redemption price per share ($5,727,751,568 ÷ 431,036,055 shares)  $13.29 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $74,940,120 
Interest  55,310 
Income from Fidelity Central Funds  1,390,350 
Income before foreign taxes withheld  76,385,780 
Less foreign taxes withheld  (7,231,514) 
Total income  69,154,266 
Expenses   
Management fee $1,624,904  
Independent trustees' fees and expenses 10,462  
Legal 453  
Miscellaneous 7,502  
Total expenses before reductions 1,643,321  
Expense reductions (212) 1,643,109 
Net investment income (loss)  67,511,157 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (8,001,677)  
Fidelity Central Funds (9,564)  
Foreign currency transactions 550,335  
Futures contracts 10,850,919  
Total net realized gain (loss)  3,390,013 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of decrease in deferred foreign taxes of $86,337) 91,503,321  
Fidelity Central Funds (4,353)  
Assets and liabilities in foreign currencies (215,274)  
Futures contracts (2,290,383)  
Total change in net unrealized appreciation (depreciation)  88,993,311 
Net gain (loss)  92,383,324 
Net increase (decrease) in net assets resulting from operations  $159,894,481 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $67,511,157 $117,237,792 
Net realized gain (loss) 3,390,013 (29,868,089) 
Change in net unrealized appreciation (depreciation) 88,993,311 836,876,743 
Net increase (decrease) in net assets resulting from operations 159,894,481 924,246,446 
Distributions to shareholders from net investment income (120,964,264) (95,231,725) 
Distributions to shareholders from net realized gain (7,437,932) (2,140,039) 
Total distributions (128,402,196) (97,371,764) 
Share transactions   
Proceeds from sales of shares 814,431,410 1,206,059,282 
Reinvestment of distributions 128,402,196 97,371,764 
Cost of shares redeemed (243,582,289) (771,760,724) 
Net increase (decrease) in net assets resulting from share transactions 699,251,317 531,670,322 
Total increase (decrease) in net assets 730,743,602 1,358,545,004 
Net Assets   
Beginning of period 4,997,007,966 3,638,462,962 
End of period $5,727,751,568 $4,997,007,966 
Other Information   
Undistributed net investment income end of period $52,178,114 $105,631,221 
Shares   
Sold 61,089,372 103,730,595 
Issued in reinvestment of distributions 9,922,890 9,177,358 
Redeemed (17,951,816) (67,302,786) 
Net increase (decrease) 53,060,446 45,605,167 

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


Financial Highlights

Fidelity Series Global ex U.S. Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.22 $10.95 $11.15 $12.16 $12.35 $10.55 
Income from Investment Operations       
Net investment income (loss)A .17 .33 .30 .31 .39 .31 
Net realized and unrealized gain (loss) .23 2.21 (.23) (.96) (.33) 1.75 
Total from investment operations .40 2.54 .07 (.65) .06 2.06 
Distributions from net investment income (.31) (.27) (.27) (.35) (.24) (.25) 
Distributions from net realized gain (.02) (.01) – (.01) (.01) (.02) 
Total distributions (.33) (.27)B (.27) (.36) (.25) (.26)C 
Net asset value, end of period $13.29 $13.22 $10.95 $11.15 $12.16 $12.35 
Total ReturnD,E 3.08% 23.84% .71% (5.53)% .52% 19.97% 
Ratios to Average Net AssetsF,G       
Expenses before reductions .06%H .06% .16% .20% .20% .20% 
Expenses net of fee waivers, if any .06%H .06% .16% .20% .20% .20% 
Expenses net of all reductions .06%H .06% .16% .20% .20% .20% 
Net investment income (loss) 2.49%H 2.74% 2.84% 2.68% 3.19% 2.73% 
Supplemental Data       
Net assets, end of period (000 omitted) $5,727,752 $4,997,008 $3,638,463 $2,998,297 $2,478,198 $1,723,870 
Portfolio turnover rateI 1%H 4% 1% 2% 2% 1% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.27 per share is comprised of distributions from net investment income of $.267 and distributions from net realized gain of $.006 per share.

 C 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.

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

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

 F 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.

 G 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. 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.

 H Annualized

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


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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. Corporate bonds and 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 April 30, 2018, including information on transfers between Levels 1 and 2 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.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

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. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

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

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $1,188,232,678 
Gross unrealized depreciation (377,904,894) 
Net unrealized appreciation (depreciation) $810,327,784 
Tax cost $4,998,061,473 

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 prior fiscal period end and is subject to adjustment.

Fiscal year of expiration  
2019 $ (2,685,793) 
No expiration  
Long-term (33,983,083) 
Total capital loss carryforward $(36,668,876) 

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in the Fund's Schedule of Investments. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. 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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

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

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $696,612,387 and $36,242,801, 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 .06% 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 Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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 $7,502 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. 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. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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. The value of securities loaned to FCM at period end was $274,176. 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 $350,628, including $20 from securities loaned to FCM.

9. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's management fee. During the period, these credits reduced the Fund's management fee by $212.

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.

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 (November 1, 2017 to April 30, 2018).

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.

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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Actual .06% $1,000.00 $1,030.80 $.30 
Hypothetical-C  $1,000.00 $1,024.50 $.30 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

 C 5% return per year before expenses






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Fidelity® Emerging Markets Index Fund
Institutional Class and Institutional Premium Class

Fidelity® Global ex U.S. Index Fund
Institutional Class and Institutional Premium Class



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Fidelity® Emerging Markets Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity® Global ex U.S. Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Funds nor Fidelity Distributors Corporation is a bank.



Fidelity® Emerging Markets Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 5.0 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 4.3 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 3.7 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 3.4 
Naspers Ltd. Class N (South Africa, Media) 1.9 
China Construction Bank Corp. (H Shares) (China, Banks) 1.6 
Baidu.com, Inc. sponsored ADR (Cayman Islands, Internet Software & Services) 1.2 
Industrial & Commercial Bank of China Ltd. (H Shares) (China, Banks) 1.2 
China Mobile Ltd. (Hong Kong, Wireless Telecommunication Services) 1.0 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) (China, Insurance) 0.9 
 24.2 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Information Technology 26.4 
Financials 23.3 
Consumer Discretionary 9.3 
Materials 7.3 
Energy 7.3 
Consumer Staples 6.6 
Industrials 5.1 
Telecommunication Services 4.7 
Real Estate 2.8 
Health Care 2.7 

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Cayman Islands 15.5% 
   Korea (South) 15.2% 
   Taiwan 10.8% 
   China 9.7% 
   India 8.3% 
   Brazil 7.0% 
   South Africa 6.4% 
   Hong Kong 3.3% 
   Russia 3.3% 
   Other* 20.5% 


 * 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.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.1 
Short-Term Investments and Net Other Assets (Liabilities) (0.1) 

Fidelity® Emerging Markets Index Fund

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.7%   
 Shares Value 
Bermuda - 0.9%   
Alibaba Health Information Technology Ltd. (a)(b) 908,000 $456,610 
Alibaba Pictures Group Ltd. (a) 3,650,000 411,160 
Beijing Enterprises Water Group Ltd. 1,662,000 964,929 
Brilliance China Automotive Holdings Ltd. 908,000 1,616,709 
China Gas Holdings Ltd. 506,800 1,795,937 
China Resource Gas Group Ltd. 266,000 978,243 
Cosco Shipping Ports Ltd. 501,823 441,341 
Credicorp Ltd. 6,502 1,501,962 
Credicorp Ltd. (United States) 13,639 3,170,931 
GOME Electrical Appliances Holdings Ltd. (b) 3,190,802 343,224 
Haier Electronics Group Co. Ltd. 374,000 1,293,956 
Hanergy Thin Film Power Group Ltd. (a)(c) 1,618,000 
Kunlun Energy Co. Ltd. 962,000 823,680 
Nine Dragons Paper (Holdings) Ltd. 490,000 730,815 
Sihuan Pharmaceutical Holdings Group Ltd. 1,105,000 267,065 
TOTAL BERMUDA  14,796,564 
Brazil - 4.4%   
Ambev SA 1,396,100 9,297,503 
Atacadao Distribuicao Comercio e Industria Ltda 115,700 498,707 
Banco Bradesco SA 312,515 2,845,749 
Banco do Brasil SA 256,700 2,689,224 
Banco Santander SA (Brasil) unit 122,200 1,329,368 
BB Seguridade Participacoes SA 210,700 1,652,785 
BM&F BOVESPA SA 611,714 4,417,779 
BR Malls Participacoes SA 249,795 778,648 
Brasil Foods SA (a) 127,500 902,603 
CCR SA 365,700 1,248,508 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 60,000 326,616 
Cielo SA 365,314 2,002,178 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 101,300 1,016,701 
Companhia Energetica de Minas Gerais (CEMIG) 2,013 4,425 
Companhia Siderurgica Nacional SA (CSN) (a) 178,100 446,368 
Cosan SA Industria e Comercio 49,400 560,953 
Drogasil SA 68,100 1,337,040 
EDP Energias do Brasil SA 96,557 382,843 
Embraer SA 199,900 1,263,355 
ENGIE Brasil Energia SA 45,800 483,598 
Equatorial Energia SA 59,200 1,202,352 
Fibria Celulose SA 73,200 1,437,797 
Hypermarcas SA 103,100 927,052 
Itausa-Investimentos Itau SA (a) 26,860 103,508 
Itausa-Investimentos Itau SA (a) 12 49 
Itausa-Investimentos Itau SA 527 2,099 
JBS SA 243,500 608,194 
Klabin SA unit 173,700 1,052,652 
Kroton Educacional SA 405,448 1,621,468 
Localiza Rent A Car SA 150,552 1,198,589 
Lojas Renner SA 209,990 1,954,720 
M. Dias Branco SA 27,900 350,422 
Multiplan Empreendimentos Imobiliarios SA 24,086 457,353 
Natura Cosmeticos SA 47,400 435,817 
Odontoprev SA 82,500 353,955 
Petroleo Brasileiro SA - Petrobras (ON) (a) 891,200 6,265,773 
Porto Seguro SA 34,600 446,426 
Qualicorp SA 65,800 457,362 
Rumo SA (a) 328,400 1,392,082 
Sul America SA unit 55,574 342,975 
Suzano Papel e Celulose SA 129,800 1,521,348 
Terna Participacoes SA unit 61,900 376,185 
TIM Participacoes SA 252,400 1,149,172 
Ultrapar Participacoes SA 105,900 1,827,374 
Vale SA 937,684 13,027,255 
Weg SA 210,132 1,066,495 
TOTAL BRAZIL  73,063,425 
British Virgin Islands - 0.0%   
Tianhe Chemicals Group Ltd. (a)(c) 376,000 28,025 
Cayman Islands - 15.5%   
3SBio, Inc. (d) 302,500 649,972 
58.com, Inc. ADR (a) 27,421 2,396,321 
AAC Technology Holdings, Inc. 217,500 3,121,727 
Agile Property Holdings Ltd. 464,000 915,284 
Airtac International Group 35,000 606,225 
Alibaba Group Holding Ltd. sponsored ADR (a)(b) 341,023 60,886,246 
Anta Sports Products Ltd. 317,000 1,808,863 
Autohome, Inc. ADR Class A 15,469 1,509,001 
Baidu.com, Inc. sponsored ADR (a) 81,528 20,455,375 
Chailease Holding Co. Ltd. 353,000 1,285,719 
China Conch Venture Holdings Ltd. 479,000 1,487,083 
China Huishan Dairy Holdings Co. Ltd. (a)(b)(c) 888,000 23,760 
China Medical System Holdings Ltd. 406,000 994,203 
China Mengniu Dairy Co. Ltd. 818,000 2,637,061 
China Resources Land Ltd. 824,744 3,097,514 
China State Construction International Holdings Ltd. 613,000 797,239 
CIFI Holdings Group Co. Ltd. 1,008,000 793,747 
Country Garden Holdings Co. Ltd. 1,581,737 3,225,266 
Ctrip.com International Ltd. ADR (a) 117,227 4,794,584 
ENN Energy Holdings Ltd. 223,000 2,085,392 
Evergrande Real Estate Group Ltd. (a)(b) 976,000 3,091,554 
Fullshare Holdings Ltd. (b) 2,032,500 1,108,312 
GCL-Poly Energy Holdings Ltd. (a)(b) 3,995,000 494,161 
Geely Automobile Holdings Ltd. 1,468,000 3,860,887 
General Interface Solution Holding Ltd. 47,000 280,846 
Haitian International Holdings Ltd. 190,000 505,647 
Hengan International Group Co. Ltd. 211,000 1,876,495 
JD.com, Inc. sponsored ADR (a) 195,029 7,120,509 
Kingboard Chemical Holdings Ltd. 190,000 772,976 
Kingsoft Corp. Ltd. 226,000 671,079 
Lee & Man Paper Manufacturing Ltd. 441,000 485,752 
Longfor Properties Co. Ltd. 431,500 1,290,502 
Meitu, Inc. (a)(d) 361,500 381,227 
Momo, Inc. ADR (a)(b) 31,741 1,107,761 
NetEase, Inc. ADR 23,499 6,040,888 
New Oriental Education & Technology Group, Inc. sponsored ADR 40,122 3,604,560 
Nexteer Auto Group Ltd. 241,000 370,796 
Semiconductor Manufacturing International Corp. (a)(b) 866,700 1,114,657 
Shenzhou International Group Holdings Ltd. 220,000 2,401,572 
Shimao Property Holdings Ltd. 347,500 919,160 
SINA Corp. (a) 16,737 1,599,053 
Sino Biopharmaceutical Ltd. 1,321,000 2,781,775 
SOHO China Ltd. 555,000 284,985 
Sunac China Holdings Ltd. (b) 717,000 3,045,621 
Sunny Optical Technology Group Co. Ltd. 211,300 3,447,917 
TAL Education Group ADR 95,076 3,462,668 
Tencent Holdings Ltd. 1,686,300 82,903,446 
Tingyi (Cayman Islands) Holding Corp. 588,000 1,106,967 
Vipshop Holdings Ltd. ADR (a) 120,972 1,872,647 
Want Want China Holdings Ltd. 1,473,000 1,301,647 
Weibo Corp. sponsored ADR (a)(b) 13,650 1,563,198 
YY, Inc. ADR (a) 12,757 1,229,647 
Zhen Ding Technology Holding Ltd. 133,000 288,891 
TOTAL CAYMAN ISLANDS  255,958,385 
Chile - 1.1%   
AES Gener SA 776,056 217,624 
Aguas Andinas SA 810,969 539,434 
Banco de Chile 7,318,563 1,209,062 
Banco de Credito e Inversiones 13,128 993,632 
Banco Santander Chile 19,491,582 1,627,053 
Cencosud SA 429,058 1,275,856 
Colbun SA 2,363,697 587,687 
Compania Cervecerias Unidas SA 42,794 592,806 
Compania de Petroleos de Chile SA (COPEC) 114,179 1,861,533 
CorpBanca SA 44,384,372 453,714 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 43,726 516,063 
Empresas CMPC SA 366,530 1,504,700 
Enel Chile SA 8,509,877 1,054,578 
Enel Chile SA sponsored ADR 350 2,177 
Enersis SA 8,411,403 1,919,911 
LATAM Airlines Group SA 93,076 1,427,795 
LATAM Airlines Group SA sponsored ADR 212 3,237 
S.A.C.I. Falabella 211,364 2,050,027 
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR 168 9,222 
TOTAL CHILE  17,846,111 
China - 9.7%   
Agricultural Bank of China Ltd. (H Shares) 7,752,000 4,370,674 
Air China Ltd. (H Shares) 530,000 698,698 
Aluminum Corp. of China Ltd. (H Shares) (a) 1,176,000 664,190 
Anhui Conch Cement Co. Ltd. (H Shares) 360,000 2,246,933 
AviChina Industry & Technology Co. Ltd. (H Shares) 587,000 370,105 
Bank Communications Co. Ltd. (H Shares) 2,641,000 2,161,091 
Bank of China Ltd. (H Shares) 23,545,000 12,780,962 
Beijing Capital International Airport Co. Ltd. (H Shares) 518,000 705,502 
BYD Co. Ltd. (H Shares) (b) 185,500 1,296,844 
CGN Power Co. Ltd. (H Shares) (d) 3,112,000 848,655 
China Cinda Asset Management Co. Ltd. (H Shares) 2,660,000 949,373 
China CITIC Bank Corp. Ltd. (H Shares) 2,596,000 1,855,746 
China Communications Construction Co. Ltd. (H Shares) 1,289,000 1,485,159 
China Communications Services Corp. Ltd. (H Shares) 690,000 433,196 
China Construction Bank Corp. (H Shares) 24,917,000 26,104,521 
China Everbright Bank Co. Ltd. (H Shares) 720,000 359,812 
China Galaxy Securities Co. Ltd. (H Shares) 951,500 624,979 
China Huarong Asset Management Co. Ltd. 3,014,000 1,038,047 
China Life Insurance Co. Ltd. (H Shares) 2,207,000 6,258,964 
China Longyuan Power Grid Corp. Ltd. (H Shares) 940,000 923,287 
China Merchants Bank Co. Ltd. (H Shares) 1,156,846 5,044,311 
China Minsheng Banking Corp. Ltd. (H Shares) 1,626,200 1,521,799 
China Molybdenum Co. Ltd. (H Shares) 1,098,000 825,112 
China National Building Materials Co. Ltd. (H Shares) 1,138,000 1,329,519 
China Oilfield Services Ltd. (H Shares) 510,000 508,825 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 782,800 3,454,245 
China Petroleum & Chemical Corp. (H Shares) 7,573,000 7,375,037 
China Railway Construction Corp. Ltd. (H Shares) 562,500 666,129 
China Railway Group Ltd. (H Shares) 1,178,000 944,199 
China Shenhua Energy Co. Ltd. (H Shares) 1,012,000 2,482,293 
China Southern Airlines Ltd. (H Shares) 548,000 590,065 
China Telecom Corp. Ltd. (H Shares) 4,082,000 1,978,676 
China Vanke Co. Ltd. (H Shares) 344,000 1,421,700 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 716,000 547,721 
CITIC Securities Co. Ltd. (H Shares) 685,500 1,671,065 
CRRC Corp. Ltd. (H Shares) 1,182,600 1,045,276 
Dongfeng Motor Group Co. Ltd. (H Shares) 816,000 902,361 
Fuyao Glass Industries Group Co. Ltd. 154,400 530,684 
GF Securities Co. Ltd. (H Shares) 407,000 716,562 
Great Wall Motor Co. Ltd. (H Shares) 885,500 918,442 
Guangzhou Automobile Group Co. Ltd. (H Shares) 620,000 1,135,664 
Guangzhou R&F Properties Co. Ltd. (H Shares) 286,800 681,895 
Haitong Securities Co. Ltd. (H Shares) 953,600 1,302,054 
Huaneng Power International, Inc. (H Shares) 1,242,000 820,838 
Huaneng Renewables Corp. Ltd. (H Shares) 1,478,000 656,384 
Huatai Securities Co. Ltd. (H Shares) (d) 488,400 989,296 
Industrial & Commercial Bank of China Ltd. (H Shares) 21,840,000 19,172,935 
Jiangsu Expressway Co. Ltd. (H Shares) 388,000 531,996 
Jiangxi Copper Co. Ltd. (H Shares) 350,000 497,594 
New China Life Insurance Co. Ltd. (H Shares) 240,900 1,123,173 
People's Insurance Co. of China Group (H Shares) 2,126,000 1,000,889 
PetroChina Co. Ltd. (H Shares) 6,222,000 4,584,801 
PICC Property & Casualty Co. Ltd. (H Shares) 1,371,227 2,454,729 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 1,542,500 15,072,384 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 524,000 322,018 
Shanghai Electric Group Co. Ltd. (H Shares) (a) 852,000 309,331 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 143,000 775,680 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 177,725 254,201 
Shanghai Pharma Holding Co. Ltd. (H Shares) 244,700 667,951 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 975,000 647,409 
Sinopharm Group Co. Ltd. (H Shares) 351,200 1,480,913 
TravelSky Technology Ltd. (H Shares) 276,000 806,204 
Tsingtao Brewery Co. Ltd. (H Shares) 110,000 569,514 
Weichai Power Co. Ltd. (H Shares) 564,200 653,145 
Yanzhou Coal Mining Co. Ltd. (H Shares) 524,000 655,693 
Zhejiang Expressway Co. Ltd. (H Shares) 412,000 423,091 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 163,600 867,387 
Zijin Mng Group Co. Ltd. (H Shares) 1,664,000 754,788 
ZTE Corp. (H Shares) (c) 212,680 480,593 
TOTAL CHINA  160,343,309 
Colombia - 0.3%   
Bancolombia SA 78,181 924,048 
Bancolombia SA sponsored ADR 76 3,622 
Cementos Argos SA 128,535 454,387 
Ecopetrol SA 1,448,711 1,598,817 
Grupo de Inversiones Suramerica SA (a) 69,404 963,123 
Interconexion Electrica SA ESP 123,429 636,269 
Inversiones Argos SA 88,623 631,003 
TOTAL COLOMBIA  5,211,269 
Czech Republic - 0.2%   
Ceske Energeticke Zavody A/S 48,641 1,243,877 
Komercni Banka A/S 24,037 1,037,713 
MONETA Money Bank A/S (d) 136,811 492,517 
Telefonica Czech Rep A/S 17,324 237,040 
TOTAL CZECH REPUBLIC  3,011,147 
Egypt - 0.1%   
Commercial International Bank SAE 299,222 1,597,376 
Commercial International Bank SAE sponsored GDR 2,831 14,523 
Eastern Tobacco Co. 32,664 381,126 
Global Telecom Holding (a) 539,180 154,837 
TOTAL EGYPT  2,147,862 
Greece - 0.3%   
Alpha Bank AE (a) 409,149 1,082,053 
EFG Eurobank Ergasias SA (a) 571,871 724,430 
Ff Group (a) 10,260 194,523 
Greek Organization of Football Prognostics SA 62,690 751,745 
Hellenic Telecommunications Organization SA 74,238 1,080,280 
Jumbo SA 29,241 535,321 
National Bank of Greece SA (a) 1,568,761 655,475 
Piraeus Bank SA (a) 76,889 326,093 
Titan Cement Co. SA (Reg.) 15,151 399,775 
TOTAL GREECE  5,749,695 
Hong Kong - 3.3%   
Beijing Enterprises Holdings Ltd. 161,000 804,178 
BYD Electronic International Co. Ltd. 193,500 295,050 
China Everbright International Ltd. 715,000 1,002,899 
China Everbright Ltd. 264,000 580,950 
China Jinmao Holdings Group Ltd. 1,540,000 871,757 
China Merchants Holdings International Co. Ltd. 396,105 885,044 
China Mobile Ltd. 1,821,000 17,347,750 
China Overseas Land and Investment Ltd. 1,142,000 3,826,421 
China Resources Beer Holdings Co. Ltd. 476,878 2,053,879 
China Resources Pharmaceutical Group Ltd. 571,500 790,076 
China Resources Power Holdings Co. Ltd. 573,691 1,100,405 
China Taiping Insurance Group Ltd. 470,377 1,573,022 
China Unicom Ltd. 1,792,000 2,533,976 
CITIC Pacific Ltd. 1,696,000 2,586,401 
CNOOC Ltd. 5,287,000 8,944,090 
CNOOC Ltd. sponsored ADR 200 33,802 
CSPC Pharmaceutical Group Ltd. 1,390,000 3,540,412 
Far East Horizon Ltd. 568,000 563,619 
Fosun International Ltd. 752,000 1,597,995 
Guangdong Investment Ltd. 874,000 1,352,806 
Lenovo Group Ltd. 2,210,000 1,049,256 
Shanghai Industrial Holdings Ltd. 143,000 374,988 
Sino-Ocean Group Holding Ltd. 846,479 587,763 
Sun Art Retail Group Ltd. 685,466 770,431 
TOTAL HONG KONG  55,066,970 
Hungary - 0.3%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 109,477 1,265,070 
OTP Bank PLC 69,692 3,044,807 
Richter Gedeon PLC 41,291 835,236 
TOTAL HUNGARY  5,145,113 
India - 8.3%   
ACC Ltd. 11,899 283,493 
Adani Ports & Special Economic Zone Ltd. 208,638 1,276,257 
Ambuja Cements Ltd. 172,666 649,906 
Ashok Leyland Ltd. 350,221 863,017 
Asian Paints Ltd. 84,489 1,524,590 
Aurobindo Pharma Ltd. 80,575 776,661 
Axis Bank Ltd. 527,321 4,088,034 
Bajaj Auto Ltd. 23,966 1,060,994 
Bajaj Finance Ltd. 51,030 1,458,895 
Bajaj Finserv Ltd. 11,365 934,964 
Bharat Forge Ltd. 62,958 731,132 
Bharat Heavy Electricals Ltd. 258,419 339,848 
Bharat Petroleum Corp. Ltd. 222,280 1,291,541 
Bharti Airtel Ltd. 415,646 2,552,439 
Bharti Infratel Ltd. 100,981 475,258 
Bosch Ltd. 2,281 664,532 
Britannia Industries Ltd. 8,032 666,070 
Cadila Healthcare Ltd. (a) 58,291 360,941 
Cipla Ltd. (a) 104,844 955,054 
Coal India Ltd. 205,291 878,743 
Container Corp. of India Ltd. 10,967 214,631 
Dabur India Ltd. 164,187 910,465 
Dr. Reddy's Laboratories Ltd. 34,598 1,099,426 
Eicher Motors Ltd. 3,969 1,854,422 
GAIL India Ltd. 202,802 990,064 
Glenmark Pharmaceuticals Ltd. 40,226 345,495 
Godrej Consumer Products Ltd. 71,438 1,197,101 
Grasim Industries Ltd. 96,992 1,590,311 
Havells India Ltd. 72,399 593,785 
HCL Technologies Ltd. 165,443 2,615,568 
Hero Motocorp Ltd. 14,390 806,089 
Hindalco Industries Ltd. 349,598 1,229,986 
Hindustan Petroleum Corp. Ltd. 184,023 840,200 
Hindustan Unilever Ltd. 190,547 4,311,812 
Housing Development Finance Corp. Ltd. 448,506 12,689,591 
ICICI Bank Ltd. 706,248 3,018,287 
Idea Cellular Ltd. (a) 579,301 600,894 
IDFC Bank Ltd. 390,007 282,508 
Indiabulls Housing Finance Ltd. 93,169 1,824,135 
Indian Oil Corp. Ltd. 351,615 854,827 
Infosys Ltd. 517,281 9,314,129 
ITC Ltd. 1,011,429 4,274,304 
JSW Steel Ltd. 250,484 1,217,927 
Larsen & Toubro Ltd. 138,833 2,918,502 
LIC Housing Finance Ltd. 84,773 694,059 
Lupin Ltd. (a) 63,047 767,913 
Mahindra & Mahindra Financial Services Ltd. (a) 89,564 709,063 
Mahindra & Mahindra Ltd. 223,929 2,932,421 
Marico Ltd. 138,892 692,927 
Maruti Suzuki India Ltd. 31,566 4,173,117 
Motherson Sumi Systems Ltd. 187,634 994,140 
Nestle India Ltd. 7,053 996,554 
NTPC Ltd. 494,042 1,277,397 
Oil & Natural Gas Corp. Ltd. 380,354 1,030,903 
Petronet LNG Ltd. 183,420 624,489 
Piramal Enterprises Ltd. (a) 24,501 955,572 
Power Finance Corp. Ltd. 182,679 240,665 
Reliance Industries Ltd. 843,481 12,178,516 
Rural Electrification Corp. Ltd. 190,925 365,112 
Shree Cement Ltd. 2,521 641,242 
Shriram Transport Finance Co. Ltd. 43,588 1,052,236 
Siemens India Ltd. 19,996 336,884 
State Bank of India 513,397 1,896,943 
Sun Pharmaceutical Industries Ltd. 280,367 2,224,221 
Tata Consultancy Services Ltd. 135,961 7,210,421 
Tata Motors Ltd. (a) 482,287 2,449,307 
Tata Motors Ltd. Class A (a) 105,491 302,318 
Tata Power Co. Ltd. 307,775 407,527 
Tata Steel Ltd. 105,977 942,707 
Tech Mahindra Ltd. 139,125 1,398,390 
Titan Co. Ltd. (a) 91,902 1,354,004 
Ultratech Cemco Ltd. 26,225 1,616,852 
United Spirits Ltd. (a) 17,355 943,203 
UPL Ltd. (a) 106,416 1,165,101 
Vakrangee Ltd. 124,566 186,718 
Vedanta Ltd. 436,010 1,944,393 
Wipro Ltd. 330,266 1,376,430 
Yes Bank Ltd. 496,704 2,693,644 
Zee Entertainment Enterprises Ltd. (a) 158,040 1,395,781 
TOTAL INDIA  137,597,998 
Indonesia - 1.9%   
PT Adaro Energy Tbk 4,297,800 562,802 
PT AKR Corporindo Tbk 472,100 165,310 
PT Astra International Tbk 6,128,000 3,136,475 
PT Bank Central Asia Tbk 2,933,200 4,638,219 
PT Bank Danamon Indonesia Tbk Series A 996,200 474,870 
PT Bank Mandiri (Persero) Tbk 5,586,000 2,829,614 
PT Bank Negara Indonesia (Persero) Tbk 2,204,500 1,269,166 
PT Bank Rakyat Indonesia Tbk 16,531,900 3,811,735 
PT Bank Tabungan Negara Tbk 1,229,000 273,892 
PT Bumi Serpong Damai Tbk 2,039,500 246,278 
PT Charoen Pokphand Indonesia Tbk 2,194,500 578,530 
PT Gudang Garam Tbk 138,500 688,050 
PT Hanjaya Mandala Sampoerna Tbk 2,776,100 703,449 
PT Indocement Tunggal Prakarsa Tbk 524,500 663,761 
PT Indofood CBP Sukses Makmur Tbk 650,700 404,256 
PT Indofood Sukses Makmur Tbk 1,386,100 693,009 
PT Jasa Marga Tbk 596,337 186,422 
PT Kalbe Farma Tbk 6,274,600 677,371 
PT Matahari Department Store Tbk 731,300 541,472 
PT Pakuwon Jati Tbk 5,792,100 244,831 
PT Perusahaan Gas Negara Tbk Series B 3,214,000 454,955 
PT Semen Gresik (Persero) Tbk 850,800 587,635 
PT Surya Citra Media Tbk 1,604,300 293,654 
PT Telkomunikasi Indonesia Tbk Series B 15,094,700 4,118,960 
PT Tower Bersama Infrastructure Tbk 551,800 219,767 
PT Unilever Indonesia Tbk 451,000 1,498,970 
PT United Tractors Tbk 498,100 1,215,306 
PT Waskita Karya Persero Tbk 1,268,700 200,413 
PT XL Axiata Tbk (a) 789,575 119,672 
TOTAL INDONESIA  31,498,844 
Isle of Man - 0.1%   
NEPI Rockcastle PLC 110,121 1,213,615 
Korea (South) - 14.4%   
AMOREPACIFIC Corp. 9,305 3,032,374 
AMOREPACIFIC Group, Inc. 8,491 1,133,798 
BGF Retail Co. Ltd. 2,344 418,054 
BGFretail Co. Ltd. 4,377 51,906 
BS Financial Group, Inc. 78,286 763,908 
Celltrion Healthcare Co. Ltd. 10,255 859,910 
Celltrion, Inc. 24,083 6,094,258 
Cheil Industries, Inc. 22,682 2,965,175 
Cheil Worldwide, Inc. 20,770 370,434 
CJ CheilJedang Corp. 2,481 794,624 
CJ Corp. 4,084 619,698 
CJ E&M Corp. 5,655 477,884 
Coway Co. Ltd. 15,530 1,268,880 
Daelim Industrial Co. 8,418 676,003 
Daewoo Engineering & Construction Co. Ltd. (a) 44,456 263,600 
Db Insurance Co. Ltd. 14,259 837,492 
DGB Financial Group Co. Ltd. 47,549 532,799 
Dong Suh Companies, Inc. 9,288 238,938 
Doosan Bobcat, Inc. 10,017 304,927 
Doosan Heavy Industries & Construction Co. Ltd. 16,360 273,450 
E-Mart Co. Ltd. 6,135 1,546,747 
GS Engineering & Construction Corp. 14,385 548,038 
GS Holdings Corp. 14,872 851,277 
GS Retail Co. Ltd. 7,711 267,852 
Hana Financial Group, Inc. 88,164 3,931,023 
Hankook Tire Co. Ltd. 21,933 1,012,757 
Hanmi Pharm Co. Ltd. 1,790 778,897 
Hanmi Science Co. Ltd. 3,521 255,792 
Hanon Systems 53,700 546,565 
Hanssem Co. Ltd. 2,897 315,149 
Hanwha Chemical Corp. 30,726 830,607 
Hanwha Corp. 12,674 472,793 
Hanwha Life Insurance Co. Ltd. 71,654 416,840 
Hanwha Techwin Co. Ltd. (a) 9,531 214,485 
Hotel Shilla Co. 9,216 998,255 
Hyosung Corp. 6,269 769,777 
Hyundai Department Store Co. Ltd. 4,190 404,944 
Hyundai Engineering & Construction Co. Ltd. 23,047 1,368,713 
Hyundai Fire & Marine Insurance Co. Ltd. 18,665 666,654 
Hyundai Glovis Co. Ltd. 5,654 889,604 
Hyundai Heavy Industries Co. Ltd. (a) 12,231 1,364,806 
Hyundai Industrial Development & Construction Co. (c) 18,649 808,006 
Hyundai Mobis 20,257 4,691,025 
Hyundai Motor Co. 45,712 6,829,535 
Hyundai Robotics Co. Ltd. 2,938 1,159,096 
Hyundai Steel Co. 23,838 1,348,911 
Hyundai Wia Corp. 4,225 211,857 
Industrial Bank of Korea 74,158 1,166,807 
ING Life Insurance Korea Ltd. (d) 9,441 363,209 
Kakao Corp. 13,325 1,381,119 
Kangwon Land, Inc. 35,202 949,962 
KB Financial Group, Inc. 118,060 6,689,581 
KCC Corp. 1,613 588,914 
KEPCO Plant Service & Engineering Co. Ltd. 5,721 270,845 
Kia Motors Corp. 76,995 2,379,751 
Korea Aerospace Industries Ltd. 20,062 809,280 
Korea Electric Power Corp. 76,547 2,670,561 
Korea Express Co. Ltd. (a) 2,269 331,581 
Korea Gas Corp. (a) 7,918 405,170 
Korea Investment Holdings Co. Ltd. 11,730 997,832 
Korea Zinc Co. Ltd. 2,511 1,016,428 
Korean Air Lines Co. Ltd. 14,554 464,103 
KT Corp. 216 5,477 
KT&G Corp. 34,860 3,183,517 
Kumho Petro Chemical Co. Ltd. 5,054 507,323 
LG Chemical Ltd. 13,367 4,493,424 
LG Corp. 27,756 2,101,932 
LG Display Co. Ltd. 67,940 1,479,428 
LG Electronics, Inc. 31,773 3,026,212 
LG Household & Health Care Ltd. 2,714 3,471,933 
LG Innotek Co. Ltd. 4,119 448,083 
Lotte Chemical Corp. 4,522 1,748,122 
Lotte Chilsung Beverage Co. Ltd. 7,564 
Lotte Confectionery Co. Ltd. 19 3,371 
Lotte Confectionery Co. Ltd. 8,493 516,277 
Lotte Shopping Co. Ltd. 3,302 789,329 
Medy-Tox, Inc. 1,218 793,405 
Mirae Asset Daewoo Co. Ltd. 104,683 955,996 
NAVER Corp. 8,324 5,565,267 
NCSOFT Corp. 5,124 1,722,474 
Netmarble Corp. (d) 7,516 1,035,189 
Oci Co. Ltd. 4,976 724,846 
Orion Corp./Republic of Korea 6,299 732,288 
Ottogi Corp. 313 232,063 
POSCO 21,969 7,549,336 
Posco Daewoo Corp. 10,386 218,693 
S-Oil Corp. 13,561 1,392,917 
S1 Corp. 5,210 477,252 
Samsung Biologics Co. Ltd. (a)(d) 4,897 2,231,469 
Samsung Card Co. Ltd. 7,648 266,378 
Samsung Electro-Mechanics Co. Ltd. 16,482 1,823,766 
Samsung Electronics Co. Ltd. 28,698 71,113,644 
Samsung Fire & Marine Insurance Co. Ltd. 8,964 2,239,064 
Samsung Heavy Industries Co. Ltd. (a) 113,279 777,459 
Samsung Life Insurance Co. Ltd. 20,880 2,281,168 
Samsung SDI Co. Ltd. 16,343 2,800,327 
Samsung SDS Co. Ltd. 10,365 2,371,244 
Samsung Securities Co. Ltd. 20,482 709,557 
Shinhan Financial Group Co. Ltd. 127,177 5,647,566 
Shinsegae Co. Ltd. 2,173 847,144 
SillaJen, Inc. (a) 15,777 1,238,972 
SK C&C Co. Ltd. 9,243 2,537,472 
SK Energy Co. Ltd. 19,293 3,540,000 
SK Hynix, Inc. 172,327 13,597,247 
SK Networks Co. Ltd. 51,946 272,602 
SK Telecom Co. Ltd. 5,946 1,267,029 
STX Pan Ocean Co. Ltd. (Korea) (a) 58,595 300,929 
Woori Bank 138,017 2,068,467 
Woori Investment & Securities Co. Ltd. 41,140 599,280 
Yuhan Corp. 2,732 584,194 
TOTAL KOREA (SOUTH)  238,259,956 
Luxembourg - 0.0%   
PLAY Communications SA (d) 34,291 289,581 
Malaysia - 2.4%   
AirAsia Group BHD 470,700 460,070 
Alliance Bank Malaysia Bhd 270,100 298,337 
AMMB Holdings Bhd 461,000 455,542 
Astro Malaysia Holdings Bhd (d) 432,500 209,563 
Axiata Group Bhd 775,142 1,040,592 
British American Tobacco (Malaysia) Bhd 39,000 243,296 
Bumiputra-Commerce Holdings Bhd 1,382,836 2,521,441 
Dialog Group Bhd 890,200 695,987 
DiGi.com Bhd 931,700 1,094,154 
Felda Global Ventures Holdings Bhd (d) 467,100 202,255 
Gamuda Bhd 525,600 686,658 
Genting Bhd 668,300 1,518,479 
Genting Malaysia Bhd 856,100 1,115,188 
Genting Plantations Bhd 73,100 184,591 
Hap Seng Consolidated Bhd 172,300 428,939 
Hartalega Holdings Bhd 390,400 581,327 
Hong Leong Bank Bhd 193,100 931,438 
Hong Leong Credit Bhd 62,900 310,682 
IHH Healthcare Bhd (d) 609,300 941,822 
IJM Corp. Bhd 806,900 611,172 
IOI Corp. Bhd 662,800 805,652 
IOI Properties Group Bhd 494,375 196,422 
Kuala Lumpur Kepong Bhd 146,600 950,580 
Malayan Banking Bhd 1,313,231 3,602,017 
Malaysia Airports Holdings Bhd 264,006 605,143 
Maxis Bhd 589,800 873,940 
MISC Bhd 406,600 738,681 
Nestle (Malaysia) BHD 16,600 583,416 
Petronas Chemicals Group Bhd 712,600 1,531,723 
Petronas Dagangan Bhd 68,600 471,142 
Petronas Gas Bhd 205,800 931,630 
PPB Group Bhd 132,300 647,692 
Press Metal Bhd 380,800 464,832 
Public Bank Bhd 872,800 5,283,983 
RHB Capital Bhd 213,889 287,744 
RHB Capital Bhd (a)(c) 99,132 
SapuraKencana Petroleum Bhd 1,014,500 163,408 
Sime Darby Bhd 686,849 465,389 
Sime Darby Plantation Bhd 710,649 1,007,906 
Sime Darby Property Bhd 623,649 236,415 
SP Setia Bhd 439,540 356,077 
Telekom Malaysia Bhd 317,280 426,989 
Tenaga Nasional Bhd 1,019,400 4,106,886 
UMW Holdings Bhd (a) 130,300 202,401 
Westports Holdings Bhd 299,200 252,914 
YTL Corp. Bhd 1,285,743 472,806 
YTL Power International Bhd 584,225 136,496 
TOTAL MALAYSIA  40,333,817 
Malta - 0.0%   
Brait SA 106,557 368,201 
Mexico - 2.9%   
Alfa SA de CV Series A 878,400 1,127,704 
America Movil S.A.B. de CV Series L 9,958,700 9,217,444 
Banco Santander Mexico SA 538,560 798,248 
CEMEX S.A.B. de CV unit 4,340,918 2,715,678 
Coca-Cola FEMSA S.A.B. de CV Series L 149,700 971,983 
Compartamos S.A.B. de CV (b) 296,000 236,616 
El Puerto de Liverpool S.A.B. de CV Class C 57,040 380,571 
Embotelladoras Arca S.A.B. de CV 129,600 895,736 
Fibra Uno Administracion SA de CV 946,000 1,566,546 
Fomento Economico Mexicano S.A.B. de CV unit 576,800 5,575,533 
Gruma S.A.B. de CV Series B 63,870 780,119 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 106,400 1,106,780 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 61,415 1,104,462 
Grupo Bimbo S.A.B. de CV Series A 491,200 1,143,294 
Grupo Carso SA de CV Series A1 126,300 453,820 
Grupo Financiero Banorte S.A.B. de CV Series O 740,200 4,631,482 
Grupo Financiero Inbursa S.A.B. de CV Series O 695,000 1,157,959 
Grupo Lala S.A.B. de CV (b) 190,500 243,650 
Grupo Mexico SA de CV Series B 1,127,607 3,748,430 
Grupo Televisa SA de CV 714,900 2,565,713 
Industrias Penoles SA de CV 41,135 863,388 
Infraestructura Energetica Nova S.A.B. de CV 157,400 692,905 
Kimberly-Clark de Mexico SA de CV Series A 450,600 817,737 
Mexichem S.A.B. de CV 310,355 969,463 
Promotora y Operadora de Infraestructura S.A.B. de CV 72,030 738,092 
Wal-Mart de Mexico SA de CV Series V 1,550,600 4,308,869 
TOTAL MEXICO  48,812,222 
Netherlands - 0.0%   
Steinhoff International Holdings NV (South Africa) 795,583 122,549 
Pakistan - 0.1%   
Habib Bank Ltd. 157,700 265,676 
Lucky Cement Ltd. 41,200 235,714 
MCB Bank Ltd. 123,000 222,277 
Oil & Gas Development Co. Ltd. 178,200 257,085 
United Bank Ltd. 136,400 237,346 
TOTAL PAKISTAN  1,218,098 
Peru - 0.0%   
Compania de Minas Buenaventura SA 337 5,439 
Compania de Minas Buenaventura SA sponsored ADR 57,587 918,513 
TOTAL PERU  923,952 
Philippines - 1.0%   
Aboitiz Equity Ventures, Inc. 603,970 812,712 
Aboitiz Power Corp. 431,300 316,620 
Alliance Global Group, Inc. (a) 1,058,700 267,065 
Ayala Corp. 73,275 1,365,073 
Ayala Land, Inc. 2,171,500 1,708,955 
Bank of the Philippine Islands (BPI) 319,997 648,676 
BDO Unibank, Inc. 579,306 1,471,623 
DMCI Holdings, Inc. 1,127,250 239,975 
Globe Telecom, Inc. 9,415 280,736 
GT Capital Holdings, Inc. 24,980 507,068 
International Container Terminal Services, Inc. 174,500 285,051 
JG Summit Holdings, Inc. 818,300 1,009,561 
Jollibee Food Corp. 121,910 670,992 
Manila Electric Co. 68,570 426,328 
Megaworld Corp. 3,509,100 304,973 
Metro Pacific Investments Corp. 4,437,400 437,098 
Metropolitan Bank & Trust Co. 228,544 374,896 
Philippine Long Distance Telephone Co. 26,310 737,443 
Robinsons Land Corp. 587,151 202,805 
Security Bank Corp. 65,050 262,346 
SM Investments Corp. 69,530 1,259,235 
SM Prime Holdings, Inc. 2,553,600 1,685,415 
Universal Robina Corp. 260,820 708,929 
TOTAL PHILIPPINES  15,983,575 
Poland - 1.2%   
Alior Bank SA (a) 25,252 511,177 
Bank Handlowy w Warszawie SA 8,407 198,807 
Bank Millennium SA (a) 168,117 409,533 
Bank Polska Kasa Opieki SA 46,393 1,545,178 
Bank Zachodni WBK SA 10,312 1,091,180 
BRE Bank SA 4,567 558,733 
CD Projekt RED SA 19,909 707,906 
Cyfrowy Polsat SA 67,533 493,724 
Dino Polska SA (a)(d) 14,640 396,256 
Grupa Lotos SA 25,620 403,806 
Jastrzebska Spolka Weglowa SA (a) 15,749 371,620 
KGHM Polska Miedz SA (Bearer) 42,083 1,122,741 
LPP SA 385 1,005,869 
NG2 SA 8,253 609,008 
Polish Oil & Gas Co. SA 514,675 906,219 
Polska Grupa Energetyczna SA (a) 239,251 713,694 
Polski Koncern Naftowy Orlen SA 89,610 2,290,131 
Powszechna Kasa Oszczednosci Bank SA (a) 281,268 3,352,922 
Powszechny Zaklad Ubezpieczen SA 176,634 2,159,959 
Tauron Polska Energia SA (a) 272,845 182,682 
Telekomunikacja Polska SA (a) 178,985 268,744 
Zaklady Azotowe w Tarnowie-Moscicach SA 11,995 182,838 
TOTAL POLAND  19,482,727 
Qatar - 0.6%   
Barwa Real Estate Co. 25,893 251,392 
Doha Bank 39,582 294,501 
Ezdan Holding Group (a) 226,660 697,846 
Industries Qatar QSC (a) 46,111 1,418,410 
Masraf al Rayan 103,654 1,012,911 
Qatar Electricity & Water Co. 8,062 438,417 
Qatar Gas Transport Co. Ltd. (Nakilat) 89,067 359,350 
Qatar Insurance Co. SAQ 45,037 451,236 
Qatar Islamic Bank 19,389 569,848 
Qatar National Bank SAQ 67,570 2,802,271 
Qatar Telecom (Qtel) Q.S.C. (a) 23,798 517,660 
The Commercial Bank of Qatar 63,389 629,363 
TOTAL QATAR  9,443,205 
Russia - 3.2%   
Alrosa Co. Ltd. 757,863 1,078,441 
Gazprom OAO 1,251,306 2,899,727 
Gazprom OAO sponsored ADR (Reg. S) 958,252 4,434,790 
Inter Rao Ues JSC 9,175,744 582,841 
Lukoil PJSC 57,158 3,776,003 
Lukoil PJSC sponsored ADR 68,904 4,602,787 
Magnit OJSC GDR (Reg. S) 106,159 2,015,959 
Magnitogorsk Iron & Steel Works PJSC 637,900 493,120 
MMC Norilsk Nickel PJSC 9,505 1,623,558 
MMC Norilsk Nickel PJSC sponsored ADR 92,519 1,590,864 
Mobile TeleSystems OJSC sponsored ADR 146,681 1,540,151 
Moscow Exchange MICEX-RTS OAO 442,131 847,788 
NOVATEK OAO 6,025 73,671 
NOVATEK OAO GDR (Reg. S) 26,585 3,376,295 
Novolipetsk Steel OJSC 361,002 923,881 
PhosAgro OJSC GDR (Reg. S) 35,028 505,104 
Polyus PJSC 8,081 512,662 
Rosneft Oil Co. OJSC 151,384 920,721 
Rosneft Oil Co. OJSC GDR (Reg. S) 191,497 1,166,983 
RusHydro PJSC 11,364,801 134,452 
RusHydro PJSC ADR 194,501 220,953 
Sberbank of Russia 3,194,176 11,385,625 
Severstal PAO 24,064 386,682 
Severstal PAO GDR (Reg. S) 38,232 610,565 
Surgutneftegas OJSC 970,349 453,644 
Surgutneftegas OJSC sponsored ADR 116,797 548,712 
Tatneft PAO 224,385 2,391,100 
Tatneft PAO sponsored ADR 37,903 2,444,744 
VTB Bank OJSC (a) 1,521,535,800 1,304,018 
TOTAL RUSSIA  52,845,841 
South Africa - 6.4%   
Adcock Ingram Holdings Ltd. warrants 7/26/19 (a) 859 400 
African Bank Investments Ltd. (a) 116,009 6,163 
Anglo American Platinum Ltd. 15,236 408,861 
AngloGold Ashanti Ltd. 123,308 1,102,209 
Aspen Pharmacare Holdings Ltd. 115,705 2,494,793 
Barclays Africa Group Ltd. 214,250 3,138,178 
Bidcorp Ltd. 100,122 2,301,628 
Bidvest Group Ltd. 99,182 1,942,892 
Capitec Bank Holdings Ltd. 11,930 849,345 
Coronation Fund Managers Ltd. 68,013 403,886 
Discovery Ltd. 103,431 1,436,126 
Exxaro Resources Ltd. 74,504 660,848 
FirstRand Ltd. 997,550 5,342,406 
Fortress (REIT) Ltd.:   
Class A 323,442 445,128 
Class B 236,572 329,690 
Foschini Ltd. 65,802 1,132,155 
Gold Fields Ltd. 243,524 924,551 
Growthpoint Properties Ltd. 865,712 2,002,847 
Hyprop Investments Ltd. 74,806 682,947 
Imperial Holdings Ltd. 44,712 860,084 
Investec Ltd. 82,089 647,546 
Kumba Iron Ore Ltd. 17,922 382,858 
Liberty Holdings Ltd. 36,678 386,457 
Life Healthcare Group Holdings Ltd. 393,834 928,378 
MMI Holdings Ltd. 287,630 512,034 
Mondi Ltd. 35,458 1,034,482 
Mr Price Group Ltd. 71,206 1,562,534 
MTN Group Ltd. 504,652 5,065,041 
Naspers Ltd. Class N 129,862 31,636,924 
Nedbank Group Ltd. 65,447 1,560,781 
Netcare Ltd. 297,278 740,248 
Novus Holdings Ltd. 39,158 12,585 
Pick 'n Pay Stores Ltd. 106,033 686,428 
Pioneer Foods Ltd. 39,480 383,961 
PSG Group Ltd. 44,504 800,735 
Rand Merchant Insurance Holdings Ltd. 217,044 718,795 
Redefine Properties Ltd. 1,515,564 1,456,478 
Remgro Ltd. 158,641 2,856,113 
Resilient Property Income Fund Ltd. 83,091 452,100 
RMB Holdings Ltd. 206,010 1,292,150 
Sanlam Ltd. 413,095 2,609,529 
Sappi Ltd. 165,959 1,059,096 
Sasol Ltd. 164,367 5,875,687 
Shoprite Holdings Ltd. 132,570 2,637,589 
Sibanye-Stillwater 546,552 479,085 
Spar Group Ltd. 57,252 962,453 
Standard Bank Group Ltd. 384,019 6,586,156 
Telkom SA Ltd. 81,771 373,436 
Tiger Brands Ltd. 47,949 1,498,569 
Truworths International Ltd. 130,071 1,063,406 
Vodacom Group Ltd. 175,668 2,196,185 
Woolworths Holdings Ltd. 292,937 1,505,443 
TOTAL SOUTH AFRICA  106,428,399 
Taiwan - 10.8%   
Acer, Inc. 859,994 654,706 
Advantech Co. Ltd. 107,459 736,399 
ASE Industrial Holding Co. Ltd. 1,036,927 2,792,457 
Asia Cement Corp. 730,153 777,822 
Asia Pacific Telecom Co. Ltd. (a) 589,000 174,346 
ASUSTeK Computer, Inc. 206,000 1,921,789 
AU Optronics Corp. 2,504,000 1,030,710 
Catcher Technology Co. Ltd. 191,000 2,114,472 
Cathay Financial Holding Co. Ltd. 2,424,641 4,341,511 
Chang Hwa Commercial Bank 1,382,239 794,260 
Cheng Shin Rubber Industry Co. Ltd. 582,937 938,307 
Chicony Electronics Co. Ltd. 172,927 425,290 
China Airlines Ltd. (a) 772,043 281,125 
China Development Finance Holding Corp. 4,019,800 1,517,186 
China Life Insurance Co. Ltd. 736,951 797,031 
China Steel Corp. 3,693,204 2,917,281 
Chinatrust Financial Holding Co. Ltd. 5,265,826 3,748,741 
Chunghwa Telecom Co. Ltd. 1,116,000 4,238,935 
Compal Electronics, Inc. 1,278,000 830,954 
Delta Electronics, Inc. 583,381 2,111,307 
E.SUN Financial Holdings Co. Ltd. 2,729,387 1,926,678 
ECLAT Textile Co. Ltd. 52,613 633,623 
EVA Airways Corp. 569,596 305,325 
Evergreen Marine Corp. (Taiwan) (a) 516,195 260,633 
Far Eastern Textile Ltd. 1,029,705 981,053 
Far EasTone Telecommunications Co. Ltd. 483,000 1,275,623 
Feng Tay Enterprise Co. Ltd. 91,520 414,271 
First Financial Holding Co. Ltd. 2,705,607 1,856,830 
Formosa Chemicals & Fibre Corp. 869,760 3,189,969 
Formosa Petrochemical Corp. 400,000 1,629,247 
Formosa Plastics Corp. 1,227,520 4,300,034 
Formosa Taffeta Co. Ltd. 232,000 261,851 
Foxconn Technology Co. Ltd. 255,587 633,469 
Fubon Financial Holding Co. Ltd. 1,981,334 3,383,776 
Giant Manufacturing Co. Ltd. 83,000 420,788 
GlobalWafers Co. Ltd. 64,000 1,030,654 
Highwealth Construction Corp. 272,000 418,025 
HIWIN Technologies Corp. 62,672 942,414 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 4,620,087 12,827,466 
Hotai Motor Co. Ltd. 84,000 821,897 
HTC Corp. (a) 206,000 416,902 
Hua Nan Financial Holdings Co. Ltd. 2,142,820 1,293,539 
Innolux Corp. 2,716,347 1,009,034 
Inventec Corp. 781,865 591,325 
Largan Precision Co. Ltd. 30,000 3,483,067 
Lite-On Technology Corp. 630,279 830,251 
Macronix International Co. Ltd. (a) 531,000 842,051 
MediaTek, Inc. 445,292 5,055,605 
Mega Financial Holding Co. Ltd. 3,196,413 2,816,819 
Micro-Star International Co. Ltd. 201,000 626,642 
Nan Ya Plastics Corp. 1,407,860 3,849,279 
Nanya Technology Corp. 307,000 953,962 
Nien Made Enterprise Co. Ltd. 44,000 390,140 
Novatek Microelectronics Corp. 168,000 703,936 
Pegatron Corp. 580,000 1,349,859 
Phison Electronics Corp. 41,000 370,509 
Pou Chen Corp. 623,000 777,728 
Powertech Technology, Inc. 206,000 588,657 
President Chain Store Corp. 169,000 1,658,238 
Quanta Computer, Inc. 799,000 1,450,106 
Realtek Semiconductor Corp. 139,401 526,239 
Ruentex Development Co. Ltd. 269,800 322,494 
Ruentex Industries Ltd. 150,000 290,125 
Shin Kong Financial Holding Co. Ltd. 2,467,533 1,001,084 
Sinopac Holdings Co. 3,014,050 1,082,732 
Standard Foods Corp. 172,812 386,877 
Synnex Technology International Corp. 441,500 632,960 
TaiMed Biologics, Inc. (a) 52,000 539,535 
Taishin Financial Holdings Co. Ltd. 2,901,782 1,407,538 
Taiwan Business Bank 1,017,973 312,277 
Taiwan Cement Corp. 1,049,000 1,439,009 
Taiwan Cooperative Financial Holding Co. Ltd. 2,364,028 1,371,214 
Taiwan High Speed Rail Corp. 486,000 372,635 
Taiwan Mobile Co. Ltd. 473,900 1,746,968 
Taiwan Semiconductor Manufacturing Co. Ltd. 7,286,000 55,401,649 
TECO Electric & Machinery Co. Ltd. 616,000 499,099 
Unified-President Enterprises Corp. 1,411,983 3,392,152 
United Microelectronics Corp. 3,525,000 1,897,568 
Vanguard International Semiconductor Corp. 268,000 542,277 
Win Semiconductors Corp. 102,000 763,471 
Winbond Electronics Corp. 898,000 548,648 
Wistron Corp. 728,899 578,596 
WPG Holding Co. Ltd. 460,000 617,898 
Yageo Corp. 62,000 1,297,279 
Yuanta Financial Holding Co. Ltd. 2,933,952 1,397,755 
TOTAL TAIWAN  178,083,983 
Thailand - 2.4%   
Advanced Info Service PCL (For. Reg.) 308,500 2,030,578 
Airports of Thailand PCL (For. Reg.) 1,253,200 2,818,914 
Bangkok Bank PCL (For. Reg.) 68,600 437,015 
Bangkok Dusit Medical Services PCL (For. Reg.) 1,138,400 810,683 
Bangkok Expressway and Metro PCL 2,069,400 506,979 
Banpu PCL (For. Reg.) 549,900 335,649 
Berli Jucker PCL (For. Reg) 367,800 694,157 
BTS Group Holdings PCL 1,638,200 461,638 
Bumrungrad Hospital PCL (For. Reg.) 99,700 598,394 
C.P. ALL PCL (For. Reg.) 1,471,100 4,046,261 
Central Pattana PCL (For. Reg.) 407,700 1,040,069 
Charoen Pokphand Foods PCL (For. Reg.) 918,620 708,773 
Delta Electronics PCL (For. Reg.) 138,000 293,645 
Electricity Generating PCL (For. Reg.) 37,100 261,498 
Energy Absolute PCL 308,800 349,074 
Glow Energy PCL (For. Reg.) 139,200 379,059 
Home Product Center PCL (For. Reg.) 1,199,006 567,096 
Indorama Ventures PCL (For. Reg.) 477,800 906,587 
IRPC PCL (For. Reg.) 3,106,800 691,144 
Kasikornbank PCL 54,600 346,059 
Kasikornbank PCL (For. Reg.) 508,100 3,220,372 
KCE Electronics PCL 74,000 160,116 
Krung Thai Bank PCL (For. Reg.) 972,270 558,333 
Minor International PCL (For. Reg.) 690,980 877,506 
PTT Exploration and Production PCL (For. Reg.) 423,039 1,792,162 
PTT Global Chemical PCL (For. Reg.) 672,939 2,079,132 
PTT PCL (For. Reg.) 3,139,000 5,584,079 
Robinsons Department Store PCL (For. Reg.) 135,600 281,829 
Siam Cement PCL (For. Reg.) 125,750 1,859,486 
Siam Commercial Bank PCL (For. Reg.) 538,400 2,229,416 
Thai Oil PCL (For. Reg.) 334,700 996,067 
Thai Union Frozen Products PCL (For. Reg.) 497,120 282,693 
TMB PCL (For. Reg.) 2,897,500 215,789 
True Corp. PCL (For. Reg.) 3,052,219 734,027 
TOTAL THAILAND  39,154,279 
Turkey - 0.9%   
Akbank T.A.S. 655,113 1,364,382 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 59,374 389,386 
Arcelik A/S 65,953 293,550 
Aselsan A/S 55,151 342,140 
Bim Birlesik Magazalar A/S JSC 61,218 1,039,113 
Coca-Cola Icecek Sanayi A/S 19,366 171,343 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 519,062 310,510 
Eregli Demir ve Celik Fabrikalari T.A.S. 425,825 1,065,060 
Ford Otomotiv Sanayi A/S 21,481 296,930 
Haci Omer Sabanci Holding A/S 264,133 625,529 
Koc Holding A/S 238,796 806,549 
Petkim Petrokimya Holding A/S 234,478 414,454 
TAV Havalimanlari Holding A/S 43,848 235,102 
Tofas Turk Otomobil Fabrikasi A/S 33,836 208,409 
Tupras Turkiye Petrol Rafinerileri A/S 35,670 908,851 
Turk Hava Yollari AO (a) 163,600 672,991 
Turk Sise ve Cam Fabrikalari A/S 229,029 254,282 
Turk Telekomunikasyon (a) 140,840 217,738 
Turkcell Iletisim Hizmet A/S 337,689 1,160,518 
Turkiye Garanti Bankasi A/S 685,066 1,553,250 
Turkiye Halk Bankasi A/S 176,143 358,608 
Turkiye Is Bankasi A/S Series C 478,658 725,864 
Turkiye Vakiflar Bankasi TAO 206,187 303,030 
Ulker Biskuvi Sanayi A/S 40,149 210,525 
Yapi ve Kredi Bankasi A/S (a) 302,039 295,934 
TOTAL TURKEY  14,224,048 
United Arab Emirates - 0.6%   
Abu Dhabi Commercial Bank PJSC 594,132 1,137,102 
Aldar Properties PJSC 1,020,283 583,313 
Damac Properties Dubai Co. PJSC (a) 549,208 414,169 
DP World Ltd. 48,798 1,085,756 
Dubai Investments Ltd. 375,909 194,445 
Dubai Islamic Bank Pakistan Ltd. 369,581 553,393 
Dubai Parks and Resorts PJSC (a) 913,149 95,960 
Emaar Malls Group PJSC (a) 681,375 411,813 
Emaar Properties PJSC 1,065,160 1,679,016 
Emirates Telecommunications Corp. 510,458 2,383,337 
National Bank of Abu Dhabi PJSC 413,860 1,397,129 
TOTAL UNITED ARAB EMIRATES  9,935,433 
United States of America - 0.4%   
Southern Copper Corp. 25,320 1,337,149 
Yum China Holdings, Inc. 112,750 4,821,190 
TOTAL UNITED STATES OF AMERICA  6,158,339 
TOTAL COMMON STOCKS   
(Cost $1,251,723,592)  1,550,746,537 
Nonconvertible Preferred Stocks - 3.8%   
Brazil - 2.6%   
Banco Bradesco SA (PN) 983,063 9,700,984 
Braskem SA (PN-A) 51,100 665,881 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 65,200 424,343 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 45,700 1,027,050 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 276,033 666,602 
Gerdau SA 304,400 1,446,752 
Itau Unibanco Holding SA 957,721 13,945,349 
Itausa-Investimentos Itau SA (PN) 1,200,274 4,663,088 
Lojas Americanas SA (PN) 220,984 1,258,458 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (a) 1,151,800 7,552,194 
Telefonica Brasil SA 131,900 1,850,184 
TOTAL BRAZIL  43,200,885 
Chile - 0.1%   
Embotelladora Andina SA Class B 74,749 371,685 
Sociedad Quimica y Minera de Chile SA (PN-B) 28,118 1,535,772 
TOTAL CHILE  1,907,457 
Colombia - 0.2%   
Bancolombia SA (PN) 121,756 1,443,410 
Grupo Aval Acciones y Valores SA 968,403 425,773 
Grupo de Inversiones Suramerica SA (a) 34,647 450,209 
TOTAL COLOMBIA  2,319,392 
Korea (South) - 0.8%   
AMOREPACIFIC Corp. 3,226 537,704 
Hyundai Motor Co. 6,466 621,890 
Hyundai Motor Co. Series 2 11,881 1,275,827 
LG Chemical Ltd. 2,763 531,483 
LG Household & Health Care Ltd. 751 539,972 
Samsung Electronics Co. Ltd. 5,066 10,000,284 
TOTAL KOREA (SOUTH)  13,507,160 
Russia - 0.1%   
AK Transneft OAO 131 358,743 
Surgutneftegas OJSC 1,996,940 982,733 
TOTAL RUSSIA  1,341,476 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $48,849,127)  62,276,370 
 Principal Amount(e) Value 
Nonconvertible Bonds - 0.0%   
India - 0.0%   
NTPC Ltd. 8.49% 3/25/25
(Cost $52,909) 
INR264,162 54,701 
 Shares Value 
Money Market Funds - 5.1%   
Fidelity Cash Central Fund, 1.74% (f) 34,382,969 34,389,846 
Fidelity Securities Lending Cash Central Fund 1.74% (f)(g) 50,285,443 50,290,472 
TOTAL MONEY MARKET FUNDS   
(Cost $84,680,318)  84,680,318 
TOTAL INVESTMENT IN SECURITIES - 102.6%   
(Cost $1,385,305,946)  1,697,757,926 
NET OTHER ASSETS (LIABILITIES) - (2.6)%(h)  (42,543,566) 
NET ASSETS - 100%  $1,655,214,360 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 740 June 2018 $42,631,400 $(532,826) $(532,826) 

The notional amount of futures purchased as a percentage of Net Assets is 2.6%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $35,935,526.

Currency Abbreviations

INR – Indian rupee

Security Type Abbreviations

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

Legend

 (a) Non-income producing

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

 (c) Level 3 security

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $9,031,011 or 0.5% of net assets.

 (e) Amount is stated in United States dollars unless otherwise noted.

 (f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (g) Investment made with cash collateral received from securities on loan.

 (h) Includes $1,882,400 of cash collateral to cover margin requirements for futures contracts.


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 $243,379 
Fidelity Securities Lending Cash Central Fund 86,477 
Total $329,856 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $153,011,031 $67,009,554 $86,001,477 $-- 
Consumer Staples 106,051,661 52,179,111 53,848,790 23,760 
Energy 118,526,358 55,547,069 62,979,289 -- 
Financials 384,556,199 116,680,633 267,875,566 -- 
Health Care 43,935,411 15,410,502 28,524,909 -- 
Industrials 85,624,704 37,980,227 46,836,471 808,006 
Information Technology 440,744,014 212,412,973 227,850,446 480,595 
Materials 122,178,557 56,155,639 65,994,893 28,025 
Real Estate 46,111,852 7,150,606 38,961,246 -- 
Telecommunication Services 74,524,836 20,582,749 53,942,087 -- 
Utilities 37,758,284 13,399,581 24,358,703 -- 
Corporate Bonds 54,701 -- 54,701 -- 
Money Market Funds 84,680,318 84,680,318 -- -- 
Total Investments in Securities: $1,697,757,926 $739,188,962 $957,228,578 $1,340,386 
Derivative Instruments:     
Liabilities     
Futures Contracts $(532,826) $(532,826) $-- $-- 
Total Liabilities $(532,826) $(532,826) $-- $-- 
Total Derivative Instruments: $(532,826) $(532,826) $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $577,806,058 
Level 2 to Level 1 $486,077 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $0 $(532,826) 
Total Equity Risk (532,826) 
Total Value of Derivatives $0 $(532,826) 

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


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


Fidelity® Emerging Markets Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $49,185,062) — See accompanying schedule:
Unaffiliated issuers (cost $1,300,625,628) 
$1,613,077,608  
Fidelity Central Funds (cost $84,680,318) 84,680,318  
Total Investment in Securities (cost $1,385,305,946)  $1,697,757,926 
Segregated cash with brokers for derivative instruments  1,882,400 
Foreign currency held at value (cost $4,953,297)  4,912,576 
Receivable for investments sold  1,017,471 
Receivable for fund shares sold  2,022,273 
Dividends receivable  1,344,361 
Distributions receivable from Fidelity Central Funds  59,222 
Other receivables  3,475 
Total assets  1,708,999,704 
Liabilities   
Payable for fund shares redeemed $1,260,387  
Accrued management fee 110,053  
Payable for daily variation margin on futures contracts 340,875  
Other affiliated payables 57,322  
Other payables and accrued expenses 1,719,271  
Collateral on securities loaned 50,297,436  
Total liabilities  53,785,344 
Net Assets  $1,655,214,360 
Net Assets consist of:   
Paid in capital  $1,406,780,234 
Undistributed net investment income  6,562,857 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (68,277,013) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  310,148,282 
Net Assets  $1,655,214,360 
Investor Class:   
Net Asset Value, offering price and redemption price per share ($40,155,481 ÷ 3,504,244 shares)  $11.46 
Premium Class:   
Net Asset Value, offering price and redemption price per share ($1,082,044,875 ÷ 94,406,061 shares)  $11.46 
Institutional Class:   
Net Asset Value, offering price and redemption price per share ($312,687,699 ÷ 27,249,879 shares)  $11.47 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($220,326,305 ÷ 19,204,709 shares)  $11.47 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $13,161,142 
Interest  9,188 
Income from Fidelity Central Funds  329,856 
Income before foreign taxes withheld  13,500,186 
Less foreign taxes withheld  (1,523,810) 
Total income  11,976,376 
Expenses   
Management fee $626,975  
Transfer agent fees 327,070  
Independent trustees' fees and expenses 2,987  
Miscellaneous 2,155  
Total expenses before reductions 959,187  
Expense reductions (3,980) 955,207 
Net investment income (loss)  11,021,169 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $1,849) (1,769,646)  
Fidelity Central Funds (2,876)  
Foreign currency transactions (30,291)  
Futures contracts 3,028,936  
Total net realized gain (loss)  1,226,123 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of decrease in deferred foreign taxes of $110,883) 45,296,625  
Fidelity Central Funds (249)  
Assets and liabilities in foreign currencies (21,582)  
Futures contracts (1,080,975)  
Total change in net unrealized appreciation (depreciation)  44,193,819 
Net gain (loss)  45,419,942 
Net increase (decrease) in net assets resulting from operations  $56,441,111 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $11,021,169 $24,352,616 
Net realized gain (loss) 1,226,123 1,339,665 
Change in net unrealized appreciation (depreciation) 44,193,819 230,671,077 
Net increase (decrease) in net assets resulting from operations 56,441,111 256,363,358 
Distributions to shareholders from net investment income (24,959,275) (12,638,479) 
Distributions to shareholders from net realized gain (1,777,378) – 
Total distributions (26,736,653) (12,638,479) 
Share transactions - net increase (decrease) 233,296,378 363,360,248 
Redemption fees 26,623 185,042 
Total increase (decrease) in net assets 263,027,459 607,270,169 
Net Assets   
Beginning of period 1,392,186,901 784,916,732 
End of period $1,655,214,360 $1,392,186,901 
Other Information   
Undistributed net investment income end of period $6,562,857 $20,500,963 

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


Financial Highlights

Fidelity Emerging Markets Index Fund Investor Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $11.20 $9.02 $8.41 $10.16 $10.04 $9.76 
Income from Investment Operations       
Net investment income (loss)A .07 .21 .17 .24 .25 .26 
Net realized and unrealized gain (loss) .38 2.10 .61 (1.82) .06 .19 
Total from investment operations .45 2.31 .78 (1.58) .31 .45 
Distributions from net investment income (.18) (.13) (.17) (.17) (.19) (.12) 
Distributions from net realized gain (.01) – – – – (.06) 
Total distributions (.19) (.13) (.17) (.17) (.19) (.19)B 
Redemption fees added to paid in capitalA C C C C C .02 
Net asset value, end of period $11.46 $11.20 $9.02 $8.41 $10.16 $10.04 
Total ReturnD,E 4.12% 25.97% 9.76% (15.68)% 3.18% 4.78% 
Ratios to Average Net AssetsF,G       
Expenses before reductions .29%H .30% .41% .46% .46% .47% 
Expenses net of fee waivers, if any .29%H .30% .31% .31% .31% .32% 
Expenses net of all reductions .29%H .30% .31% .31% .31% .32% 
Net investment income (loss) 1.24%H 2.15% 2.05% 2.55% 2.50% 2.56% 
Supplemental Data       
Net assets, end of period (000 omitted) $40,155 $32,614 $19,862 $23,983 $16,792 $10,259 
Portfolio turnover rateI 2%H 4% 25% 1% 8% 33% 

 A Calculated based on average shares outstanding during the period.

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

 C Amount represents less than $.005 per share.

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

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

 F 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.

 G 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.

 H Annualized

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


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


Fidelity Emerging Markets Index Fund Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $11.21 $9.03 $8.42 $10.17 $10.05 $9.77 
Income from Investment Operations       
Net investment income (loss)A .08 .23 .18 .25 .26 .26 
Net realized and unrealized gain (loss) .38 2.09 .61 (1.82) .06 .21 
Total from investment operations .46 2.32 .79 (1.57) .32 .47 
Distributions from net investment income (.20) (.14) (.18) (.18) (.20) (.14) 
Distributions from net realized gain (.01) – – – – (.06) 
Total distributions (.21) (.14) (.18) (.18) (.20) (.20) 
Redemption fees added to paid in capitalA B B B B B .01 
Net asset value, end of period $11.46 $11.21 $9.03 $8.42 $10.17 $10.05 
Total ReturnC,D 4.19% 26.14% 9.87% (15.57)% 3.30% 4.93% 
Ratios to Average Net AssetsE,F       
Expenses before reductions .13%G .14% .27% .35% .35% .35% 
Expenses net of fee waivers, if any .13%G .14% .18% .20% .20% .20% 
Expenses net of all reductions .13%G .14% .18% .20% .20% .20% 
Net investment income (loss) 1.40%G 2.31% 2.18% 2.66% 2.61% 2.68% 
Supplemental Data       
Net assets, end of period (000 omitted) $1,082,045 $913,578 $583,548 $443,052 $323,342 $210,071 
Portfolio turnover rateH 2%G 4% 25% 1% 8% 33% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

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

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

 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 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.

 G Annualized

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


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


Fidelity Emerging Markets Index Fund Institutional Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $11.23 $9.04 $8.43 $10.18 $10.06 $9.79 
Income from Investment Operations       
Net investment income (loss)A .08 .23 .18 .25 .26 .27 
Net realized and unrealized gain (loss) .37 2.10 .62 (1.81) .06 .20 
Total from investment operations .45 2.33 .80 (1.56) .32 .47 
Distributions from net investment income (.20) (.14) (.19) (.19) (.20) (.15) 
Distributions from net realized gain (.01) – – – – (.06) 
Total distributions (.21) (.14) (.19) (.19) (.20) (.21) 
Redemption fees added to paid in capitalA B B B B B .01 
Net asset value, end of period $11.47 $11.23 $9.04 $8.43 $10.18 $10.06 
Total ReturnC,D 4.13% 26.26% 9.94% (15.49)% 3.37% 4.91% 
Ratios to Average Net AssetsE,F       
Expenses before reductions .10%G .11% .20% .28% .28% .28% 
Expenses net of fee waivers, if any .10%G .11% .12% .13% .13% .13% 
Expenses net of all reductions .10%G .11% .12% .13% .13% .13% 
Net investment income (loss) 1.43%G 2.34% 2.24% 2.73% 2.68% 2.74% 
Supplemental Data       
Net assets, end of period (000 omitted) $312,688 $253,315 $181,237 $49,626 $21,598 $474 
Portfolio turnover rateH 2%G 4% 25% 1% 8% 33% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

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

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

 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 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.

 G Annualized

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


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


Fidelity Emerging Markets Index Fund Institutional Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $11.23 $9.04 $8.43 $10.18 $10.06 $9.79 
Income from Investment Operations       
Net investment income (loss)A .08 .24 .19 .26 .27 .26 
Net realized and unrealized gain (loss) .38 2.09 .61 (1.82) .06 .21 
Total from investment operations .46 2.33 .80 (1.56) .33 .47 
Distributions from net investment income (.20) (.14) (.19) (.19) (.21) (.15) 
Distributions from net realized gain (.01) – – – – (.06) 
Total distributions (.22)B (.14) (.19) (.19) (.21) (.21) 
Redemption fees added to paid in capitalA C C C C C .01 
Net asset value, end of period $11.47 $11.23 $9.04 $8.43 $10.18 $10.06 
Total ReturnD,E 4.15% 26.29% 9.98% (15.46)% 3.40% 4.95% 
Ratios to Average Net AssetsF,G       
Expenses before reductions .08%H .09% .19% .25% .25% .24% 
Expenses net of fee waivers, if any .08%H .09% .10% .10% .10% .10% 
Expenses net of all reductions .08%H .09% .10% .10% .10% .10% 
Net investment income (loss) 1.45%H 2.36% 2.26% 2.76% 2.71% 2.78% 
Supplemental Data       
Net assets, end of period (000 omitted) $220,326 $192,681 $269 $243 $111 $7,372 
Portfolio turnover rateI 2%H 4% 25% 1% 8% 33% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.22 per share is comprised of distributions from net investment income of $.201 and distributions from net realized gain of $.014 per share.

 C Amount represents less than $.005 per share.

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

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

 F 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.

 G 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.

 H Annualized

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


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


Fidelity® Global ex U.S. Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 1.2 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.1 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 1.1 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 0.9 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.9 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 0.8 
Novartis AG (Switzerland, Pharmaceuticals) 0.8 
Toyota Motor Corp. (Japan, Automobiles) 0.8 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.7 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
 9.0 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 23.9 
Industrials 11.3 
Information Technology 11.1 
Consumer Discretionary 11.1 
Consumer Staples 8.6 
Materials 7.6 
Health Care 7.3 
Energy 7.3 
Telecommunication Services 4.2 
Real Estate 2.8 

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 16.1% 
   United Kingdom 10.9% 
   France 6.9% 
   Germany 6.4% 
   Canada 6.2% 
   Switzerland 5.0% 
   Cayman Islands 4.3% 
   Australia 4.3% 
   Korea (South) 3.8% 
   Other* 36.1% 


 * 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.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 

Fidelity® Global ex U.S. Index Fund

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.1%   
 Shares Value 
Australia - 4.3%   
AGL Energy Ltd. 128,281 $2,090,653 
Alumina Ltd. 493,311 971,021 
Amcor Ltd. 226,358 2,332,613 
AMP Ltd. 571,093 1,728,795 
APA Group unit 230,040 1,440,099 
Aristocrat Leisure Ltd. 106,534 2,137,133 
ASX Ltd. 37,678 1,656,430 
Aurizon Holdings Ltd. 397,649 1,338,186 
Australia & New Zealand Banking Group Ltd. 577,201 11,603,012 
Bank of Queensland Ltd. 81,576 614,619 
Bendigo & Adelaide Bank Ltd. 95,139 757,232 
BHP Billiton Ltd. 632,312 14,751,365 
BlueScope Steel Ltd. 112,306 1,380,179 
Boral Ltd. 227,511 1,170,838 
Brambles Ltd. 311,144 2,302,211 
Caltex Australia Ltd. 50,577 1,176,157 
Challenger Ltd. 113,126 914,620 
Cimic Group Ltd. 20,079 683,264 
Coca-Cola Amatil Ltd. 106,107 740,639 
Cochlear Ltd. 11,246 1,636,627 
Commonwealth Bank of Australia 344,541 18,551,615 
Computershare Ltd. 92,415 1,175,662 
Crown Ltd. 75,088 728,799 
CSL Ltd. 89,086 11,410,941 
DEXUS Property Group unit 196,924 1,400,435 
Dominos Pizza Enterprises Ltd. 11,598 367,160 
Flight Centre Travel Group Ltd. 10,880 455,781 
Fortescue Metals Group Ltd. 305,603 1,036,870 
Goodman Group unit 357,114 2,429,640 
Harvey Norman Holdings Ltd. (a) 106,263 280,107 
Healthscope Ltd. 351,704 640,782 
Incitec Pivot Ltd. 328,107 933,701 
Insurance Australia Group Ltd. 469,242 2,777,875 
Lendlease Group unit 107,904 1,447,140 
Macquarie Group Ltd. 63,781 5,194,214 
Medibank Private Ltd. 535,921 1,177,825 
Mirvac Group unit 722,208 1,211,995 
National Australia Bank Ltd. 528,059 11,479,499 
Newcrest Mining Ltd. 149,695 2,372,660 
Orica Ltd. 74,747 1,113,664 
Origin Energy Ltd. (b) 342,881 2,503,299 
QBE Insurance Group Ltd. 270,744 2,022,073 
Ramsay Health Care Ltd. 27,635 1,343,495 
realestate.com.au Ltd. 10,281 622,430 
Rio Tinto Ltd. 81,294 4,838,145 
Santos Ltd. (b) 366,012 1,685,784 
Scentre Group unit 1,053,451 3,184,069 
SEEK Ltd. 65,110 947,080 
Sonic Healthcare Ltd. 78,177 1,386,097 
South32 Ltd. 1,012,301 2,809,157 
SP AusNet 368,473 475,656 
Stockland Corp. Ltd. unit 485,564 1,509,332 
Suncorp Group Ltd. 257,089 2,703,987 
Sydney Airport unit 216,194 1,157,521 
Tabcorp Holdings Ltd. 373,162 1,227,086 
Telstra Corp. Ltd. 821,954 1,954,298 
The GPT Group unit 349,642 1,267,841 
TPG Telecom Ltd. 69,604 291,959 
Transurban Group unit 439,005 3,825,361 
Treasury Wine Estates Ltd. 142,345 2,033,255 
Vicinity Centers unit 632,015 1,157,204 
Wesfarmers Ltd. 223,025 7,337,431 
Westfield Corp. unit (b) 392,439 2,711,824 
Westpac Banking Corp. 667,260 14,333,054 
Woodside Petroleum Ltd. 185,389 4,492,626 
Woolworths Group Ltd. 256,669 5,368,432 
TOTAL AUSTRALIA  190,800,554 
Austria - 0.2%   
Andritz AG 14,277 768,255 
Erste Group Bank AG 59,645 2,924,308 
OMV AG 29,306 1,822,581 
Raiffeisen International Bank-Holding AG 29,098 983,885 
Voestalpine AG 22,552 1,190,389 
TOTAL AUSTRIA  7,689,418 
Bailiwick of Jersey - 0.8%   
Experian PLC 182,059 4,171,372 
Glencore Xstrata PLC 2,407,483 11,623,537 
Randgold Resources Ltd. 18,818 1,525,831 
Shire PLC 178,925 9,527,744 
Wolseley PLC 49,546 3,806,117 
WPP PLC 250,373 4,296,433 
TOTAL BAILIWICK OF JERSEY  34,951,034 
Belgium - 0.7%   
Ageas 36,945 1,983,127 
Anheuser-Busch InBev SA NV 149,847 14,968,617 
Colruyt NV 11,687 658,805 
Groupe Bruxelles Lambert SA 15,614 1,790,515 
KBC Groep NV 49,509 4,328,584 
Proximus 29,071 892,749 
Solvay SA Class A 14,571 2,034,091 
Telenet Group Holding NV (b) 10,111 592,920 
UCB SA 24,863 1,884,341 
Umicore SA 40,932 2,286,608 
TOTAL BELGIUM  31,420,357 
Bermuda - 0.4%   
Alibaba Health Information Technology Ltd. (a)(b) 636,000 319,828 
Alibaba Pictures Group Ltd. (b) 2,410,000 271,478 
Beijing Enterprises Water Group Ltd. 1,126,000 653,736 
Brilliance China Automotive Holdings Ltd. 598,000 1,064,749 
Cheung Kong Infrastructure Holdings Ltd. 131,500 1,037,852 
China Gas Holdings Ltd. 349,000 1,236,744 
China Resource Gas Group Ltd. 170,000 625,193 
Cosco Shipping Ports Ltd. 321,734 282,957 
Credicorp Ltd. (United States) 13,438 3,124,201 
GOME Electrical Appliances Holdings Ltd. (a) 2,035,104 218,909 
Haier Electronics Group Co. Ltd. 257,000 889,162 
Hanergy Thin Film Power Group Ltd. (b)(c) 576,000 
Hongkong Land Holdings Ltd. 228,536 1,651,685 
Jardine Matheson Holdings Ltd. 43,276 2,620,523 
Jardine Strategic Holdings Ltd. 42,900 1,623,566 
Kerry Properties Ltd. 122,500 585,614 
Kingston Financial Group Ltd. (a) 766,000 389,423 
Kunlun Energy Co. Ltd. 618,000 529,142 
Li & Fung Ltd. 1,172,000 589,426 
Nine Dragons Paper (Holdings) Ltd. 312,000 465,335 
NWS Holdings Ltd. 308,871 609,036 
Shangri-La Asia Ltd. 254,000 494,313 
Sihuan Pharmaceutical Holdings Group Ltd. 730,000 176,432 
Yue Yuen Industrial (Holdings) Ltd. 146,500 415,176 
TOTAL BERMUDA  19,874,481 
Brazil - 1.1%   
Ambev SA 929,800 6,192,120 
Atacadao Distribuicao Comercio e Industria Ltda 75,400 325,000 
Banco Bradesco SA 199,432 1,816,020 
Banco do Brasil SA 168,800 1,768,372 
Banco Santander SA (Brasil) unit 84,000 913,805 
BB Seguridade Participacoes SA 139,300 1,092,705 
BM&F BOVESPA SA 403,666 2,915,263 
BR Malls Participacoes SA 174,440 543,756 
Brasil Foods SA (b) 85,500 605,275 
CCR SA 247,500 844,970 
Centrais Eletricas Brasileiras SA (Electrobras) (b) 43,400 236,252 
Cielo SA 240,671 1,319,046 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 65,300 655,386 
Companhia Energetica de Minas Gerais (CEMIG) 1,217 2,675 
Companhia Siderurgica Nacional SA (CSN) (b) 118,500 296,994 
Cosan SA Industria e Comercio 31,200 354,286 
Drogasil SA 46,800 918,847 
EDP Energias do Brasil SA 62,881 249,320 
Embraer SA 127,200 803,896 
ENGIE Brasil Energia SA 31,500 332,606 
Equatorial Energia SA 41,100 834,741 
Fibria Celulose SA 47,700 936,925 
Hypermarcas SA 67,100 603,348 
Itausa-Investimentos Itau SA (b) 19,020 73,296 
JBS SA 156,300 390,393 
Klabin SA unit 112,700 682,982 
Kroton Educacional SA 280,452 1,121,584 
Localiza Rent A Car SA 96,567 768,798 
Lojas Renner SA 141,180 1,314,193 
M. Dias Branco SA 19,300 242,407 
Multiplan Empreendimentos Imobiliarios SA 16,022 304,231 
Natura Cosmeticos SA 32,700 300,659 
Odontoprev SA 53,800 230,822 
Petroleo Brasileiro SA - Petrobras (ON) (b) 587,200 4,128,436 
Porto Seguro SA 21,700 279,984 
Qualicorp SA 44,400 308,615 
Rumo SA (b) 209,000 885,947 
Sul America SA unit 39,547 244,064 
Suzano Papel e Celulose SA 84,500 990,400 
Terna Participacoes SA unit 41,700 253,423 
TIM Participacoes SA 162,100 738,038 
Ultrapar Participacoes SA 71,600 1,235,505 
Vale SA 624,845 8,680,979 
Weg SA 141,050 715,879 
TOTAL BRAZIL  48,452,243 
British Virgin Islands - 0.0%   
First Pacific Co. Ltd. 412,852 211,409 
Canada - 6.0%   
Agnico Eagle Mines Ltd. (Canada) 45,482 1,913,932 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 85,362 3,690,521 
AltaGas Ltd. 35,406 682,502 
ARC Resources Ltd. 67,660 754,618 
ATCO Ltd. Class I (non-vtg.) 14,545 440,105 
Bank of Montreal 127,946 9,716,901 
Bank of Nova Scotia 235,953 14,503,221 
Barrick Gold Corp. 227,982 3,068,288 
BCE, Inc. 29,302 1,243,558 
BlackBerry Ltd. (b) 101,161 1,058,923 
Bombardier, Inc. Class B (sub. vtg.) (b) 415,973 1,286,197 
Brookfield Asset Management, Inc. Class A 165,905 6,575,728 
CAE, Inc. 51,470 972,917 
Cameco Corp. 75,730 797,437 
Canadian Imperial Bank of Commerce 85,981 7,488,808 
Canadian National Railway Co. 146,835 11,341,273 
Canadian Natural Resources Ltd. 217,140 7,833,580 
Canadian Pacific Railway Ltd. 28,651 5,227,895 
Canadian Tire Ltd. Class A (non-vtg.) 12,416 1,692,084 
Canadian Utilities Ltd. Class A (non-vtg.) 24,409 621,655 
CCL Industries, Inc. Class B 27,968 1,356,632 
Cenovus Energy, Inc. 205,788 2,061,166 
CGI Group, Inc. Class A (sub. vtg.) (b) 49,624 2,875,521 
CI Financial Corp. 53,776 1,131,685 
Constellation Software, Inc. 3,934 2,811,602 
Crescent Point Energy Corp. 104,267 913,590 
Dollarama, Inc. 20,861 2,401,383 
Element Financial Corp. 74,177 280,197 
Emera, Inc. 10,848 337,873 
Empire Co. Ltd. Class A (non-vtg.) 33,208 642,202 
Enbridge, Inc. 326,085 9,876,900 
Encana Corp. 190,571 2,373,325 
Fairfax Financial Holdings Ltd. (sub. vtg.) 5,468 3,027,235 
Finning International, Inc. 32,164 811,396 
First Capital Realty, Inc. 30,330 474,102 
First Quantum Minerals Ltd. 134,793 1,942,187 
Fortis, Inc. 83,478 2,802,213 
Franco-Nevada Corp. 36,236 2,570,203 
George Weston Ltd. 9,791 802,146 
Gildan Activewear, Inc. 42,954 1,251,201 
Goldcorp, Inc. 169,479 2,249,248 
Great-West Lifeco, Inc. 58,583 1,561,818 
H&R REIT/H&R Finance Trust 27,148 435,992 
Husky Energy, Inc. 71,689 1,002,792 
Hydro One Ltd. (d) 56,956 904,500 
IGM Financial, Inc. 16,112 494,547 
Imperial Oil Ltd. 59,029 1,835,763 
Industrial Alliance Insurance and Financial Services, Inc. 20,365 855,395 
Intact Financial Corp. 27,251 2,077,864 
Inter Pipeline Ltd. 74,401 1,341,472 
Jean Coutu Group, Inc. Class A (sub. vtg.) 10,672 204,388 
Keyera Corp. 40,282 1,084,582 
Kinross Gold Corp. (b) 238,603 923,601 
Linamar Corp. 9,369 525,020 
Loblaw Companies Ltd. 41,601 2,115,772 
Lundin Mining Corp. 125,284 829,405 
Magna International, Inc. Class A (sub. vtg.) 67,241 3,971,249 
Manulife Financial Corp. 389,583 7,351,997 
Methanex Corp. 16,479 993,271 
Metro, Inc. Class A (sub. vtg.) 45,082 1,430,461 
National Bank of Canada 68,335 3,245,507 
Nutrien Ltd. 127,106 5,786,320 
Onex Corp. (sub. vtg.) 16,669 1,234,645 
Open Text Corp. 51,881 1,831,665 
Pembina Pipeline Corp. 98,108 3,124,449 
Power Corp. of Canada (sub. vtg.) 69,513 1,651,810 
Power Financial Corp. 49,587 1,286,454 
PrairieSky Royalty Ltd. 43,469 963,871 
Restaurant Brands International, Inc. 43,757 2,381,169 
Restaurant Brands International, Inc. 292 15,891 
RioCan (REIT) 30,570 555,948 
Rogers Communications, Inc. Class B (non-vtg.) 71,980 3,397,880 
Royal Bank of Canada 286,615 21,796,089 
Saputo, Inc. 42,138 1,366,256 
Seven Generations Energy Ltd. (b) 47,472 677,353 
Shaw Communications, Inc. Class B 83,503 1,716,301 
Shopify, Inc. Class A (b) 17,080 2,288,197 
Smart (REIT) 12,614 282,942 
SNC-Lavalin Group, Inc. 34,674 1,520,152 
Sun Life Financial, Inc. 120,760 4,984,836 
Suncor Energy, Inc. 327,178 12,511,733 
Teck Resources Ltd. Class B (sub. vtg.) 111,262 2,792,924 
TELUS Corp. (b) 39,181 1,402,210 
The Toronto-Dominion Bank 363,570 20,419,045 
Thomson Reuters Corp. 55,906 2,248,083 
Tourmaline Oil Corp. 43,876 825,270 
TransCanada Corp. 172,124 7,298,127 
Turquoise Hill Resources Ltd. (b) 192,503 569,735 
Valeant Pharmaceuticals International, Inc. (Canada) (b) 66,984 1,210,401 
Vermilion Energy, Inc. 24,631 832,576 
West Fraser Timber Co. Ltd. 13,070 885,313 
Wheaton Precious Metals Corp. 86,987 1,805,525 
TOTAL CANADA  266,750,716 
Cayman Islands - 4.3%   
3SBio, Inc. (d) 195,000 418,990 
58.com, Inc. ADR (b) 18,393 1,607,364 
AAC Technology Holdings, Inc. 143,000 2,052,446 
Agile Property Holdings Ltd. 300,000 591,778 
Airtac International Group 25,000 433,018 
Alibaba Group Holding Ltd. sponsored ADR (a)(b) 226,836 40,499,299 
Anta Sports Products Ltd. 217,000 1,238,244 
ASM Pacific Technology Ltd. 58,300 798,904 
Autohome, Inc. ADR Class A 10,185 993,547 
Baidu.com, Inc. sponsored ADR (b) 54,262 13,614,336 
Chailease Holding Co. Ltd. 230,816 840,693 
Cheung Kong Property Holdings Ltd. 512,716 4,426,260 
China Conch Venture Holdings Ltd. 336,000 1,043,131 
China Huishan Dairy Holdings Co. Ltd. (b)(c) 461,000 12,335 
China Medical System Holdings Ltd. 262,000 641,579 
China Mengniu Dairy Co. Ltd. 541,000 1,744,071 
China Resources Land Ltd. 544,634 2,045,497 
China State Construction International Holdings Ltd. 381,250 495,836 
CIFI Holdings Group Co. Ltd. 654,000 514,991 
CK Hutchison Holdings Ltd. 533,216 6,305,203 
Country Garden Holdings Co. Ltd. 1,046,644 2,134,176 
Ctrip.com International Ltd. ADR (b) 77,890 3,185,701 
ENN Energy Holdings Ltd. 152,000 1,421,433 
Evergrande Real Estate Group Ltd. (a)(b) 645,000 2,043,087 
Fullshare Holdings Ltd. (a) 1,317,500 718,426 
GCL-Poly Energy Holdings Ltd. (a)(b) 2,473,000 305,898 
Geely Automobile Holdings Ltd. 962,000 2,530,091 
General Interface Solution Holding Ltd. 34,000 203,165 
Haitian International Holdings Ltd. 122,000 324,679 
Hengan International Group Co. Ltd. 142,500 1,267,301 
JD.com, Inc. sponsored ADR (b) 129,557 4,730,126 
Kingboard Chemical Holdings Ltd. 122,500 498,366 
Kingsoft Corp. Ltd. 150,000 445,406 
Lee & Man Paper Manufacturing Ltd. 303,000 333,748 
Longfor Properties Co. Ltd. 281,500 841,892 
Meitu, Inc. (b)(d) 243,500 256,788 
Melco Crown Entertainment Ltd. sponsored ADR 48,081 1,500,608 
MGM China Holdings Ltd. 191,200 524,341 
Minth Group Ltd. 146,000 693,225 
Momo, Inc. ADR (a)(b) 20,595 718,766 
NetEase, Inc. ADR 15,641 4,020,832 
New Oriental Education & Technology Group, Inc. sponsored ADR 26,247 2,358,030 
Nexteer Auto Group Ltd. 167,000 256,941 
Sands China Ltd. 471,600 2,725,556 
Semiconductor Manufacturing International Corp. (a)(b) 562,100 722,913 
Shenzhou International Group Holdings Ltd. 151,000 1,648,352 
Shimao Property Holdings Ltd. 226,500 599,107 
SINA Corp. (b) 11,556 1,104,060 
Sino Biopharmaceutical Ltd. 876,000 1,844,689 
SOHO China Ltd. 400,000 205,394 
Sunac China Holdings Ltd. 475,000 2,017,671 
Sunny Optical Technology Group Co. Ltd. 139,000 2,268,151 
TAL Education Group ADR 62,431 2,273,737 
Tencent Holdings Ltd. 1,121,700 55,146,042 
Tingyi (Cayman Islands) Holding Corp. 394,000 741,743 
Vipshop Holdings Ltd. ADR (b) 80,337 1,243,617 
Want Want China Holdings Ltd. 1,014,000 896,042 
Weibo Corp. sponsored ADR (a)(b) 9,373 1,073,396 
WH Group Ltd. (d) 1,744,500 1,806,039 
Wharf Real Estate Investment Co. Ltd. 236,000 1,769,469 
Wynn Macau Ltd. 310,000 1,145,562 
YY, Inc. ADR (b) 8,867 854,690 
Zhen Ding Technology Holding Ltd. 96,302 209,179 
TOTAL CAYMAN ISLANDS  191,925,957 
Chile - 0.3%   
AES Gener SA 642,460 180,160 
Aguas Andinas SA 499,124 332,003 
Banco de Chile 4,766,899 787,514 
Banco de Credito e Inversiones 8,330 630,481 
Banco Santander Chile 13,216,569 1,103,248 
Cencosud SA 287,481 854,859 
Colbun SA 1,502,321 373,523 
Compania Cervecerias Unidas SA 28,010 388,010 
Compania de Petroleos de Chile SA (COPEC) 77,588 1,264,967 
CorpBanca SA 29,459,530 301,147 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 28,495 336,304 
Empresas CMPC SA 239,165 981,834 
Enel Chile SA 5,545,139 687,176 
Enersis SA 5,697,714 1,300,509 
LATAM Airlines Group SA 58,201 892,809 
S.A.C.I. Falabella 143,921 1,395,895 
TOTAL CHILE  11,810,439 
China - 2.4%   
Agricultural Bank of China Ltd. (H Shares) 5,105,000 2,878,263 
Air China Ltd. (H Shares) 350,000 461,404 
Aluminum Corp. of China Ltd. (H Shares) (b) 758,000 428,109 
Anhui Conch Cement Co. Ltd. (H Shares) 245,000 1,529,163 
AviChina Industry & Technology Co. Ltd. (H Shares) 399,000 251,571 
Bank Communications Co. Ltd. (H Shares) 1,746,000 1,428,726 
Bank of China Ltd. (H Shares) 15,706,000 8,525,708 
Beijing Capital International Airport Co. Ltd. (H Shares) 322,000 438,555 
BYD Co. Ltd. (H Shares) (a) 129,000 901,848 
CGN Power Co. Ltd. (H Shares) (d) 2,031,000 553,862 
China Cinda Asset Management Co. Ltd. (H Shares) 1,685,000 601,389 
China CITIC Bank Corp. Ltd. (H Shares) 1,774,000 1,268,141 
China Communications Construction Co. Ltd. (H Shares) 901,000 1,038,114 
China Communications Services Corp. Ltd. (H Shares) 464,000 291,309 
China Construction Bank Corp. (H Shares) 16,596,000 17,386,950 
China Everbright Bank Co. Ltd. (H Shares) 486,000 242,873 
China Galaxy Securities Co. Ltd. (H Shares) 634,000 416,434 
China Huarong Asset Management Co. Ltd. 1,919,000 660,920 
China Life Insurance Co. Ltd. (H Shares) 1,472,000 4,174,533 
China Longyuan Power Grid Corp. Ltd. (H Shares) 605,000 594,243 
China Merchants Bank Co. Ltd. (H Shares) 763,751 3,330,260 
China Minsheng Banking Corp. Ltd. (H Shares) 1,167,500 1,092,547 
China Molybdenum Co. Ltd. (H Shares) 714,000 536,548 
China National Building Materials Co. Ltd. (H Shares) 755,000 882,062 
China Oilfield Services Ltd. (H Shares) 350,000 349,194 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 515,000 2,272,529 
China Petroleum & Chemical Corp. (H Shares) 4,988,000 4,857,611 
China Railway Construction Corp. Ltd. (H Shares) 376,000 445,270 
China Railway Group Ltd. (H Shares) 764,000 612,367 
China Shenhua Energy Co. Ltd. (H Shares) 667,500 1,637,283 
China Southern Airlines Ltd. (H Shares) 352,000 379,020 
China Telecom Corp. Ltd. (H Shares) 2,766,000 1,340,769 
China Vanke Co. Ltd. (H Shares) 226,600 936,504 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 481,000 367,952 
CITIC Securities Co. Ltd. (H Shares) 467,500 1,139,640 
CRRC Corp. Ltd. (H Shares) 795,950 703,524 
Dongfeng Motor Group Co. Ltd. (H Shares) 518,000 572,822 
Fuyao Glass Industries Group Co. Ltd. 96,800 332,709 
GF Securities Co. Ltd. (H Shares) 260,200 458,107 
Great Wall Motor Co. Ltd. (H Shares) 592,500 614,542 
Guangzhou Automobile Group Co. Ltd. (H Shares) 402,000 736,350 
Guangzhou R&F Properties Co. Ltd. (H Shares) 184,000 437,478 
Haitong Securities Co. Ltd. (H Shares) 619,200 845,461 
Huaneng Power International, Inc. (H Shares) 810,000 535,329 
Huaneng Renewables Corp. Ltd. (H Shares) 930,000 413,016 
Huatai Securities Co. Ltd. (H Shares) (d) 312,200 632,388 
Industrial & Commercial Bank of China Ltd. (H Shares) 14,543,000 12,767,032 
Jiangsu Expressway Co. Ltd. (H Shares) 234,000 320,843 
Jiangxi Copper Co. Ltd. (H Shares) 236,000 335,520 
New China Life Insurance Co. Ltd. (H Shares) 158,400 738,524 
People's Insurance Co. of China Group (H Shares) 1,335,000 628,498 
PetroChina Co. Ltd. (H Shares) 4,148,000 3,056,534 
PICC Property & Casualty Co. Ltd. (H Shares) 903,289 1,617,040 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 1,027,500 10,040,113 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 388,000 238,441 
Shanghai Electric Group Co. Ltd. (H Shares) (b) 598,000 217,113 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 92,500 501,751 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 177,040 253,221 
Shanghai Pharma Holding Co. Ltd. (H Shares) 168,500 459,950 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 669,000 444,222 
Sinopharm Group Co. Ltd. (H Shares) 238,800 1,006,953 
TravelSky Technology Ltd. (H Shares) 179,000 522,864 
Tsingtao Brewery Co. Ltd. (H Shares) 70,000 362,418 
Weichai Power Co. Ltd. (H Shares) 373,600 432,497 
Yanzhou Coal Mining Co. Ltd. (H Shares) 356,000 445,471 
Zhejiang Expressway Co. Ltd. (H Shares) 272,000 279,322 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 104,400 553,516 
Zijin Mng Group Co. Ltd. (H Shares) 1,090,000 494,423 
ZTE Corp. (H Shares) (c) 137,480 310,663 
TOTAL CHINA  106,560,326 
Colombia - 0.1%   
Bancolombia SA 43,383 512,759 
Cementos Argos SA 86,907 307,227 
Ecopetrol SA 946,145 1,044,178 
Grupo de Inversiones Suramerica SA (b) 48,515 673,245 
Interconexion Electrica SA ESP 73,479 378,780 
Inversiones Argos SA 54,521 388,194 
TOTAL COLOMBIA  3,304,383 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 31,031 793,544 
Komercni Banka A/S 14,472 624,778 
MONETA Money Bank A/S (d) 92,793 334,053 
Telefonica Czech Rep A/S 11,537 157,858 
TOTAL CZECH REPUBLIC  1,910,233 
Denmark - 1.1%   
A.P. Moller - Maersk A/S:   
Series A 725 1,112,230 
Series B 1,283 2,070,368 
Carlsberg A/S Series B 20,870 2,338,771 
Christian Hansen Holding A/S 19,137 1,740,714 
Coloplast A/S Series B 23,545 1,994,583 
Danske Bank A/S 147,366 5,144,924 
DONG Energy A/S (d) 37,062 2,445,490 
DSV de Sammensluttede Vognmaend A/S 37,676 2,994,075 
Genmab A/S (b) 11,397 2,312,761 
H Lundbeck A/S 13,540 787,860 
ISS Holdings A/S 32,694 1,144,611 
Novo Nordisk A/S Series B 366,753 17,247,641 
Novozymes A/S Series B 44,306 2,082,952 
Pandora A/S 21,107 2,351,646 
Tryg A/S 25,269 600,014 
Vestas Wind Systems A/S 42,730 2,764,282 
William Demant Holding A/S (b) 22,904 895,415 
TOTAL DENMARK  50,028,337 
Egypt - 0.0%   
Commercial International Bank SAE 127,815 682,332 
Commercial International Bank SAE sponsored GDR 82,964 425,605 
Eastern Tobacco Co. 23,322 272,123 
Global Telecom Holding (b) 448,175 128,703 
TOTAL EGYPT  1,508,763 
Finland - 0.7%   
Elisa Corp. (A Shares) 27,975 1,240,497 
Fortum Corp. 87,984 2,030,428 
Kone Oyj (B Shares) 67,022 3,339,410 
Metso Corp. 21,364 763,397 
Neste Oyj 25,541 2,155,947 
Nokia Corp. 1,149,111 6,894,916 
Nokian Tyres PLC 23,117 928,210 
Orion Oyj (B Shares) 20,354 618,912 
Sampo Oyj (A Shares) 87,913 4,750,827 
Stora Enso Oyj (R Shares) 109,355 2,170,358 
UPM-Kymmene Corp. 105,674 3,787,522 
Wartsila Corp. 87,955 1,874,685 
TOTAL FINLAND  30,555,109 
France - 6.9%   
Accor SA 36,965 2,092,227 
Aeroports de Paris 5,931 1,306,399 
Air Liquide SA 76,203 9,904,590 
Alstom SA 29,945 1,363,653 
Amundi SA (d) 11,902 1,012,999 
Arkema SA 13,616 1,784,031 
Atos Origin SA 18,489 2,498,427 
AXA SA 381,718 10,916,622 
BIC SA 5,522 563,144 
bioMerieux SA 8,346 661,158 
BNP Paribas SA 220,895 17,066,844 
Bollore SA 172,716 858,899 
Bollore SA (b) 720 3,555 
Bouygues SA 42,135 2,149,774 
Bureau Veritas SA 51,651 1,350,392 
Capgemini SA 31,802 4,378,067 
Carrefour SA 113,340 2,331,570 
Casino Guichard Perrachon SA 10,737 557,019 
CNP Assurances 34,832 893,421 
Compagnie de St. Gobain 98,564 5,177,031 
Credit Agricole SA 224,923 3,703,498 
Danone SA 118,807 9,624,058 
Dassault Aviation SA 482 963,315 
Dassault Systemes SA 25,679 3,325,818 
Edenred SA 43,657 1,502,526 
EDF SA 106,715 1,501,324 
EDF SA (b) 5,248 73,832 
Eiffage SA 14,365 1,712,166 
ENGIE 358,032 6,290,830 
Essilor International SA 40,862 5,578,447 
Eurazeo SA 8,505 747,702 
Eutelsat Communications 33,735 730,847 
Faurecia SA 14,719 1,205,122 
Fonciere des Regions 6,377 713,485 
Gecina SA 9,666 1,676,194 
Groupe Eurotunnel SA 91,159 1,286,877 
Hermes International SCA 6,231 4,031,657 
ICADE 6,443 640,730 
Iliad SA 5,134 1,028,860 
Imerys SA 6,800 620,803 
Ingenico SA 11,554 1,010,169 
Ipsen SA 7,570 1,229,536 
JCDecaux SA 14,000 500,768 
Kering SA 14,908 8,634,191 
Klepierre SA 43,861 1,796,625 
L'Oreal SA (b) 5,097 1,223,949 
L'Oreal SA 44,304 10,638,775 
Lagardere S.C.A. (Reg.) 22,496 643,295 
Legrand SA 52,775 4,110,655 
LVMH Moet Hennessy - Louis Vuitton SA 54,791 19,067,934 
Michelin CGDE Series B 33,809 4,758,474 
Natixis SA 188,987 1,554,639 
Orange SA 391,228 7,112,381 
Pernod Ricard SA 41,744 6,933,903 
Peugeot Citroen SA 114,619 2,826,412 
Publicis Groupe SA 41,191 3,084,020 
Remy Cointreau SA 4,508 621,145 
Renault SA 37,924 4,114,405 
Rexel SA 60,090 932,456 
Safran SA 65,617 7,696,229 
Sanofi SA 223,753 17,690,432 
Schneider Electric SA 111,695 10,153,983 
SCOR SE 33,741 1,371,091 
SEB SA 4,463 856,395 
Societe Generale Series A 151,073 8,268,042 
Sodexo SA (b) 1,000 99,028 
Sodexo SA (b) 1,580 156,465 
Sodexo SA 15,372 1,522,265 
SR Teleperformance SA 11,252 1,805,834 
Suez Environnement SA 72,548 1,047,803 
Thales SA 20,710 2,625,987 
Total SA 478,961 30,103,539 
Ubisoft Entertainment SA (b) 15,171 1,449,559 
Unibail-Rodamco 19,704 4,732,736 
Valeo SA 47,543 3,182,973 
Veolia Environnement SA 93,452 2,218,119 
VINCI SA 99,814 9,979,773 
Vivendi SA 204,145 5,396,443 
Wendel SA 5,360 810,387 
TOTAL FRANCE  305,788,728 
Germany - 6.0%   
adidas AG 37,042 9,120,838 
Allianz SE 87,368 20,664,620 
Axel Springer Verlag AG 9,360 766,918 
BASF AG 180,600 18,790,252 
Bayer AG 162,775 19,454,805 
Bayerische Motoren Werke AG (BMW) 65,023 7,260,909 
Beiersdorf AG 19,864 2,252,931 
Brenntag AG 30,686 1,760,921 
Commerzbank AG (b) 207,559 2,684,443 
Continental AG 21,605 5,771,152 
Covestro AG (d) 32,107 2,929,644 
Daimler AG (Germany) 189,149 14,961,270 
Deutsche Bank AG 407,041 5,586,874 
Deutsche Borse AG 37,977 5,107,492 
Deutsche Lufthansa AG 47,019 1,372,376 
Deutsche Post AG 190,803 8,281,699 
Deutsche Telekom AG 654,050 11,448,243 
Deutsche Wohnen AG (Bearer) 69,105 3,266,280 
Drillisch AG 10,526 763,943 
E.ON AG 433,036 4,741,643 
Evonik Industries AG 32,336 1,151,163 
Fraport AG Frankfurt Airport Services Worldwide 8,325 808,283 
Fresenius Medical Care AG & Co. KGaA 42,530 4,315,556 
Fresenius SE & Co. KGaA 81,916 6,265,704 
GEA Group AG 36,602 1,432,541 
Hannover Reuck SE 11,749 1,654,332 
HeidelbergCement Finance AG 29,537 2,898,453 
Henkel AG & Co. KGaA 20,394 2,431,995 
Hochtief AG 3,703 677,916 
Hugo Boss AG 12,566 1,180,592 
Infineon Technologies AG 224,890 5,758,470 
Innogy SE (d) 27,186 1,199,273 
K&S AG 38,615 1,138,274 
KION Group AG 13,966 1,168,768 
Lanxess AG 17,734 1,318,343 
Linde AG 12,494 2,776,901 
Linde AG 24,086 5,200,622 
MAN SE 6,716 774,528 
Merck KGaA 25,215 2,473,119 
Metro Wholesale & Food Specialist AG (a) 34,774 504,547 
MTU Aero Engines Holdings AG 10,277 1,774,702 
Muenchener Rueckversicherungs AG 30,409 6,975,327 
OSRAM Licht AG 19,934 1,149,934 
ProSiebenSat.1 Media AG 46,758 1,696,290 
RWE AG 101,465 2,435,267 
SAP SE 193,104 21,454,951 
Schaeffler AG 34,758 539,992 
Siemens AG 150,287 19,085,680 
Siemens Healthineers AG (b)(d) 28,832 1,124,084 
Symrise AG 24,287 1,967,975 
Telefonica Deutschland Holding AG 139,915 669,256 
Thyssenkrupp AG 85,121 2,220,310 
TUI AG 7,441 168,483 
TUI AG (GB) 80,038 1,813,149 
Uniper SE 39,309 1,218,543 
United Internet AG 24,549 1,594,328 
Volkswagen AG 6,321 1,286,951 
Vonovia SE 95,742 4,810,867 
Wirecard AG 22,888 3,126,033 
Zalando SE (b)(d) 22,077 1,139,723 
TOTAL GERMANY  268,368,478 
Greece - 0.1%   
Alpha Bank AE (b) 266,250 704,136 
EFG Eurobank Ergasias SA (b) 356,217 451,246 
Ff Group (b) 6,325 119,918 
Greek Organization of Football Prognostics SA 43,296 519,183 
Hellenic Telecommunications Organization SA 47,258 687,679 
Jumbo SA 19,439 355,874 
National Bank of Greece SA (b) 1,055,656 441,084 
Piraeus Bank SA (b) 54,301 230,295 
Titan Cement Co. SA (Reg.) 8,915 235,232 
TOTAL GREECE  3,744,647 
Hong Kong - 2.5%   
AIA Group Ltd. 2,376,600 21,240,150 
Bank of East Asia Ltd. 249,816 1,096,960 
Beijing Enterprises Holdings Ltd. 96,500 482,007 
BOC Hong Kong (Holdings) Ltd. 732,000 3,784,093 
BYD Electronic International Co. Ltd. 129,500 197,463 
China Everbright International Ltd. 524,000 734,992 
China Everbright Ltd. 176,000 387,300 
China Jinmao Holdings Group Ltd. 994,000 562,680 
China Merchants Holdings International Co. Ltd. 251,123 561,101 
China Mobile Ltd. 1,213,000 11,555,640 
China Overseas Land and Investment Ltd. 752,000 2,519,675 
China Resources Beer Holdings Co. Ltd. 323,162 1,391,836 
China Resources Pharmaceutical Group Ltd. 362,000 500,450 
China Resources Power Holdings Co. Ltd. 370,523 710,705 
China Taiping Insurance Group Ltd. 326,377 1,091,461 
China Unicom Ltd. 1,210,000 1,710,999 
CITIC Pacific Ltd. 1,153,000 1,758,326 
CLP Holdings Ltd. 324,500 3,369,634 
CNOOC Ltd. 3,555,000 6,014,042 
CSPC Pharmaceutical Group Ltd. 916,000 2,333,106 
Far East Horizon Ltd. 377,000 374,092 
Fosun International Ltd. 522,500 1,110,309 
Galaxy Entertainment Group Ltd. 468,000 4,096,232 
Guangdong Investment Ltd. 598,000 925,604 
Hang Lung Group Ltd. 169,000 510,467 
Hang Lung Properties Ltd. 403,000 953,729 
Hang Seng Bank Ltd. 151,300 3,832,417 
Henderson Land Development Co. Ltd. 232,500 1,474,179 
Hong Kong & China Gas Co. Ltd. 1,639,810 3,426,295 
Hong Kong Exchanges and Clearing Ltd. 232,545 7,533,189 
Hysan Development Co. Ltd. 121,020 704,357 
Lenovo Group Ltd. 1,512,000 717,862 
Link (REIT) 435,547 3,849,421 
MTR Corp. Ltd. 300,107 1,686,229 
New World Development Co. Ltd. 1,196,732 1,755,033 
PCCW Ltd. 846,913 523,521 
Power Assets Holdings Ltd. 271,500 2,020,189 
Shanghai Industrial Holdings Ltd. 98,000 256,985 
Sino Land Ltd. 618,673 1,067,938 
Sino-Ocean Group Holding Ltd. 577,591 401,057 
SJM Holdings Ltd. 369,000 369,601 
Sun Art Retail Group Ltd. 455,372 511,816 
Sun Hung Kai Properties Ltd. 286,781 4,618,449 
Swire Pacific Ltd. (A Shares) 102,000 1,007,894 
Swire Properties Ltd. 237,200 841,939 
Techtronic Industries Co. Ltd. 266,000 1,558,279 
Wharf Holdings Ltd. 247,000 821,734 
Wheelock and Co. Ltd. 160,000 1,187,074 
TOTAL HONG KONG  110,138,511 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 70,395 813,455 
OTP Bank PLC 47,540 2,076,997 
Richter Gedeon PLC 26,699 540,068 
TOTAL HUNGARY  3,430,520 
India - 2.1%   
ACC Ltd. 9,321 222,072 
Adani Ports & Special Economic Zone Ltd. 148,404 907,800 
Ambuja Cements Ltd. 112,932 425,070 
Ashok Leyland Ltd. 222,905 549,284 
Asian Paints Ltd. 57,570 1,038,841 
Aurobindo Pharma Ltd. 50,212 483,993 
Axis Bank Ltd. 356,650 2,764,914 
Bajaj Auto Ltd. 15,971 707,049 
Bajaj Finance Ltd. 34,791 994,639 
Bajaj Finserv Ltd. 7,248 596,271 
Bharat Forge Ltd. 39,863 462,930 
Bharat Heavy Electricals Ltd. 183,714 241,603 
Bharat Petroleum Corp. Ltd. 154,054 895,119 
Bharti Airtel Ltd. 275,011 1,688,814 
Bharti Infratel Ltd. 95,927 451,471 
Bosch Ltd. 1,387 404,080 
Britannia Industries Ltd. 5,450 451,953 
Cadila Healthcare Ltd. (b) 40,609 251,453 
Cipla Ltd. (b) 66,056 601,723 
Coal India Ltd. 130,013 556,517 
Container Corp. of India Ltd. 7,490 146,584 
Dabur India Ltd. 110,192 611,047 
Dr. Reddy's Laboratories Ltd. 23,659 751,816 
Eicher Motors Ltd. 2,650 1,238,150 
GAIL India Ltd. 128,791 628,748 
Glenmark Pharmaceuticals Ltd. 28,576 245,435 
Godrej Consumer Products Ltd. 47,761 800,341 
Grasim Industries Ltd. 65,556 1,074,877 
Havells India Ltd. 47,522 389,754 
HCL Technologies Ltd. 109,615 1,732,956 
Hero Motocorp Ltd. 9,476 530,820 
Hindalco Industries Ltd. 234,673 825,647 
Hindustan Petroleum Corp. Ltd. 116,307 531,027 
Hindustan Unilever Ltd. 126,761 2,868,424 
Housing Development Finance Corp. Ltd. 297,848 8,427,020 
ICICI Bank Ltd. 464,678 1,985,891 
Idea Cellular Ltd. (b) 380,671 394,860 
IDFC Bank Ltd. 285,469 206,784 
Indiabulls Housing Finance Ltd. 63,545 1,244,133 
Indian Oil Corp. Ltd. 222,183 540,159 
Infosys Ltd. 341,028 6,140,529 
Infosys Ltd. sponsored ADR 2,307 40,765 
ITC Ltd. 678,699 2,868,186 
JSW Steel Ltd. 173,319 842,728 
Larsen & Toubro Ltd. 93,349 1,962,352 
LIC Housing Finance Ltd. 56,246 460,501 
Lupin Ltd. (b) 42,230 514,362 
Mahindra & Mahindra Financial Services Ltd. (b) 55,323 437,983 
Mahindra & Mahindra Ltd. 146,810 1,922,523 
Marico Ltd. 94,585 471,881 
Maruti Suzuki India Ltd. 20,600 2,723,380 
Motherson Sumi Systems Ltd. 120,795 640,007 
Nestle India Ltd. 4,412 623,394 
NTPC Ltd. 315,147 814,845 
Oil & Natural Gas Corp. Ltd. 244,591 662,934 
Petronet LNG Ltd. 114,189 388,779 
Piramal Enterprises Ltd. (b) 15,536 605,925 
Power Finance Corp. Ltd. 139,249 183,450 
Reliance Industries Ltd. 560,658 8,095,004 
Rural Electrification Corp. Ltd. 131,108 250,722 
Shree Cement Ltd. 1,588 403,924 
Shriram Transport Finance Co. Ltd. 28,146 679,458 
Siemens India Ltd. 14,569 245,452 
State Bank of India 342,349 1,264,941 
Sun Pharmaceutical Industries Ltd. 189,321 1,501,930 
Tata Consultancy Services Ltd. 90,433 4,795,934 
Tata Motors Ltd. (b) 302,076 1,534,101 
Tata Motors Ltd. Class A (b) 91,368 261,844 
Tata Power Co. Ltd. 210,949 279,319 
Tata Steel Ltd. 72,644 646,197 
Tech Mahindra Ltd. 95,385 958,745 
Titan Co. Ltd. (b) 59,427 875,545 
Ultratech Cemco Ltd. 17,474 1,077,326 
United Spirits Ltd. (b) 11,115 604,074 
UPL Ltd. (b) 73,125 800,612 
Vakrangee Ltd. 84,460 126,601 
Vedanta Ltd. 292,384 1,303,891 
Wipro Ltd. 229,444 956,240 
Yes Bank Ltd. 334,856 1,815,936 
Zee Entertainment Enterprises Ltd. (b) 105,408 930,945 
TOTAL INDIA  91,583,334 
Indonesia - 0.5%   
PT Adaro Energy Tbk 2,745,700 359,553 
PT AKR Corporindo Tbk 334,100 116,988 
PT Astra International Tbk 3,953,900 2,023,713 
PT Bank Central Asia Tbk 1,948,300 3,080,813 
PT Bank Danamon Indonesia Tbk Series A 641,100 305,601 
PT Bank Mandiri (Persero) Tbk 3,654,300 1,851,103 
PT Bank Negara Indonesia (Persero) Tbk 1,426,900 821,489 
PT Bank Rakyat Indonesia Tbk 11,016,600 2,540,081 
PT Bank Tabungan Negara Tbk 811,400 180,827 
PT Bumi Serpong Damai Tbk 1,483,600 179,151 
PT Charoen Pokphand Indonesia Tbk 1,405,800 370,607 
PT Gudang Garam Tbk 92,100 457,541 
PT Hanjaya Mandala Sampoerna Tbk 1,781,100 451,321 
PT Indocement Tunggal Prakarsa Tbk 351,800 445,207 
PT Indofood CBP Sukses Makmur Tbk 446,400 277,332 
PT Indofood Sukses Makmur Tbk 832,700 416,326 
PT Jasa Marga Tbk 504,596 157,743 
PT Kalbe Farma Tbk 4,035,000 435,597 
PT Matahari Department Store Tbk 472,100 349,554 
PT Pakuwon Jati Tbk 4,737,400 200,249 
PT Perusahaan Gas Negara Tbk Series B 2,078,500 294,220 
PT Semen Gresik (Persero) Tbk 564,700 390,030 
PT Surya Citra Media Tbk 1,168,600 213,903 
PT Telkomunikasi Indonesia Tbk Series B 10,008,400 2,731,038 
PT Tower Bersama Infrastructure Tbk 366,700 146,047 
PT Unilever Indonesia Tbk 305,200 1,014,380 
PT United Tractors Tbk 320,900 782,959 
PT Waskita Karya Persero Tbk 895,000 141,381 
PT XL Axiata Tbk (b) 698,000 105,793 
TOTAL INDONESIA  20,840,547 
Ireland - 0.4%   
AIB Group PLC 161,039 961,074 
Bank Ireland Group PLC 177,407 1,596,063 
CRH PLC 164,619 5,845,854 
CRH PLC sponsored ADR (a) 769 27,192 
DCC PLC (United Kingdom) 17,791 1,714,501 
James Hardie Industries PLC CDI 85,638 1,512,319 
Kerry Group PLC Class A 31,446 3,208,819 
Paddy Power Betfair PLC (Ireland) 16,037 1,587,067 
Ryanair Holdings PLC (b) 12,173 226,901 
Ryanair Holdings PLC sponsored ADR (b) 3,659 402,380 
TOTAL IRELAND  17,082,170 
Isle of Man - 0.1%   
Gaming VC Holdings SA 104,755 1,287,130 
Genting Singapore PLC 1,202,600 1,053,617 
NEPI Rockcastle PLC 71,842 791,752 
TOTAL ISLE OF MAN  3,132,499 
Israel - 0.3%   
Azrieli Group 7,854 360,298 
Bank Hapoalim BM (Reg.) 208,704 1,430,039 
Bank Leumi le-Israel BM 289,424 1,712,925 
Bezeq The Israel Telecommunication Corp. Ltd. 399,405 504,063 
Check Point Software Technologies Ltd. (a)(b) 25,535 2,464,383 
Elbit Systems Ltd. (Israel) 4,554 527,026 
Frutarom Industries Ltd. 7,476 717,698 
Israel Chemicals Ltd. 132,964 597,774 
Mizrahi Tefahot Bank Ltd. 27,878 510,549 
NICE Systems Ltd. (b) 11,359 1,077,526 
NICE Systems Ltd. sponsored ADR (b) 976 92,886 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 181,281 3,259,432 
TOTAL ISRAEL  13,254,599 
Italy - 1.4%   
Assicurazioni Generali SpA 245,107 4,954,893 
Atlantia SpA 89,963 2,987,581 
Davide Campari-Milano SpA 115,159 864,991 
Enel SpA 1,594,614 10,115,789 
Eni SpA 500,679 9,787,481 
Intesa Sanpaolo SpA 2,656,441 10,104,989 
Intesa Sanpaolo SpA (Risparmio Shares) 176,849 701,768 
Leonardo SpA 80,130 929,912 
Luxottica Group SpA 33,668 2,104,431 
Mediobanca SpA 124,413 1,512,177 
Poste Italiane SpA (d) 104,095 1,018,966 
Prysmian SpA 40,213 1,183,923 
Recordati SpA 20,700 741,171 
Snam Rete Gas SpA 446,970 2,150,947 
Telecom Italia SpA (a)(b) 2,211,713 2,185,301 
Terna SpA 273,770 1,645,419 
UniCredit SpA 394,130 8,554,750 
Unipolsai SpA 184,848 497,786 
TOTAL ITALY  62,042,275 
Japan - 16.1%   
ABC-MART, Inc. 6,200 408,910 
ACOM Co. Ltd. 75,900 344,369 
AEON Co. Ltd. 119,700 2,395,204 
AEON Financial Service Co. Ltd. 22,300 523,434 
AEON MALL Co. Ltd. 23,770 482,271 
Air Water, Inc. 30,100 582,066 
Aisin Seiki Co. Ltd. 34,800 1,890,889 
Ajinomoto Co., Inc. 107,600 1,974,438 
Alfresa Holdings Corp. 38,200 844,230 
All Nippon Airways Ltd. 23,100 917,069 
Alps Electric Co. Ltd. 40,300 895,064 
Amada Holdings Co. Ltd. 67,200 809,572 
Aozora Bank Ltd. 23,400 947,173 
Asahi Glass Co. Ltd. 40,100 1,665,331 
Asahi Group Holdings 76,400 3,868,921 
Asahi Kasei Corp. 249,900 3,446,069 
Asics Corp. 32,100 608,408 
Astellas Pharma, Inc. 407,900 5,966,041 
Bandai Namco Holdings, Inc. 39,000 1,325,329 
Bank of Kyoto Ltd. 11,900 716,264 
Benesse Holdings, Inc. 13,900 507,327 
Bridgestone Corp. 128,000 5,373,143 
Brother Industries Ltd. 46,800 1,008,606 
Calbee, Inc. 16,000 540,066 
Canon, Inc. 209,900 7,220,391 
Casio Computer Co. Ltd. 38,400 573,611 
Central Japan Railway Co. 28,200 5,667,344 
Chiba Bank Ltd. 141,300 1,142,602 
Chubu Electric Power Co., Inc. 125,200 1,962,406 
Chugai Pharmaceutical Co. Ltd. 43,800 2,315,807 
Chugoku Electric Power Co., Inc. 55,100 690,514 
Coca-Cola West Co. Ltd. 24,300 1,046,954 
Concordia Financial Group Ltd. 238,900 1,392,054 
Credit Saison Co. Ltd. 30,400 545,876 
CYBERDYNE, Inc. (a)(b) 18,100 231,962 
Dai Nippon Printing Co. Ltd. 49,800 1,074,171 
Dai-ichi Mutual Life Insurance Co. 212,800 4,231,862 
Daicel Chemical Industries Ltd. 54,000 625,357 
Daifuku Co. Ltd. 19,100 1,027,333 
Daiichi Sankyo Kabushiki Kaisha 112,200 3,848,793 
Daikin Industries Ltd. 49,100 5,751,239 
Dainippon Sumitomo Pharma Co. Ltd. 31,900 582,149 
Daito Trust Construction Co. Ltd. 13,600 2,271,021 
Daiwa House Industry Co. Ltd. 111,900 4,104,638 
Daiwa House REIT Investment Corp. 348 830,845 
Daiwa Securities Group, Inc. 317,000 1,950,658 
DeNA Co. Ltd. 19,200 366,191 
DENSO Corp. 93,800 4,938,829 
Dentsu, Inc. 43,000 2,037,505 
Disco Corp. 5,600 987,633 
Don Quijote Holdings Co. Ltd. 23,400 1,262,898 
East Japan Railway Co. 64,200 6,160,428 
Eisai Co. Ltd. 52,900 3,554,249 
Electric Power Development Co. Ltd. 29,800 811,786 
FamilyMart Co. Ltd. 15,900 1,546,076 
Fanuc Corp. 38,200 8,182,846 
Fast Retailing Co. Ltd. 10,500 4,630,488 
Fuji Electric Co. Ltd. 108,000 774,533 
Fujifilm Holdings Corp. 81,500 3,284,006 
Fujitsu Ltd. 383,000 2,332,965 
Fukuoka Financial Group, Inc. 155,000 830,864 
Hakuhodo DY Holdings, Inc. 46,800 655,423 
Hamamatsu Photonics K.K. 27,500 1,061,562 
Hankyu Hanshin Holdings, Inc. 48,100 1,898,568 
Hikari Tsushin, Inc. 4,200 682,327 
Hino Motors Ltd. 50,000 611,508 
Hirose Electric Co. Ltd. 6,383 900,346 
Hisamitsu Pharmaceutical Co., Inc. 11,900 928,531 
Hitachi Chemical Co. Ltd. 20,000 440,176 
Hitachi Construction Machinery Co. Ltd. 21,100 769,150 
Hitachi High-Technologies Corp. 13,600 635,712 
Hitachi Ltd. 953,000 6,987,969 
Hitachi Metals Ltd. 43,300 497,483 
Honda Motor Co. Ltd. 339,000 11,656,840 
Hoshizaki Corp. 10,800 1,004,720 
Hoya Corp. 76,000 4,075,302 
Hulic Co. Ltd. 57,300 616,924 
Idemitsu Kosan Co. Ltd. 26,700 1,046,556 
IHI Corp. 29,800 978,613 
Iida Group Holdings Co. Ltd. 28,800 564,040 
INPEX Corp. 185,900 2,384,968 
Isetan Mitsukoshi Holdings Ltd. 63,700 709,720 
Isuzu Motors Ltd. 110,100 1,685,944 
Itochu Corp. 295,100 5,922,516 
J. Front Retailing Co. Ltd. 48,500 787,482 
Japan Airlines Co. Ltd. 22,500 887,075 
Japan Airport Terminal Co. Ltd. 8,900 365,949 
Japan Exchange Group, Inc. 103,500 1,921,926 
Japan Post Bank Co. Ltd. 77,600 1,056,246 
Japan Post Holdings Co. Ltd. 308,900 3,758,114 
Japan Prime Realty Investment Corp. 164 595,573 
Japan Real Estate Investment Corp. 243 1,262,569 
Japan Retail Fund Investment Corp. 528 990,121 
Japan Tobacco, Inc. 216,600 5,818,203 
JFE Holdings, Inc. 102,300 2,109,727 
JGC Corp. 42,300 1,038,927 
JSR Corp. 37,000 698,911 
JTEKT Corp. 42,300 686,814 
JX Holdings, Inc. 602,300 3,935,996 
Kajima Corp. 181,000 1,746,753 
Kakaku.com, Inc. 26,100 499,223 
Kamigumi Co. Ltd. 23,400 528,705 
Kaneka Corp. 57,000 563,639 
Kansai Electric Power Co., Inc. 140,600 1,967,783 
Kansai Paint Co. Ltd. 40,700 917,351 
Kao Corp. 97,500 7,005,694 
Kawasaki Heavy Industries Ltd. 29,700 997,064 
KDDI Corp. 355,800 9,550,955 
Keihan Electric Railway Co., Ltd. 20,000 647,640 
Keihin Electric Express Railway Co. Ltd. 44,800 822,481 
Keio Corp. 23,100 1,058,644 
Keisei Electric Railway Co. 27,600 901,317 
Keyence Corp. 19,120 11,713,011 
Kikkoman Corp. 29,500 1,280,438 
Kintetsu Group Holdings Co. Ltd. 35,300 1,438,543 
Kirin Holdings Co. Ltd. 171,200 4,812,455 
Kobe Steel Ltd. 61,100 632,686 
Koito Manufacturing Co. Ltd. 21,800 1,465,697 
Komatsu Ltd. 181,900 6,200,741 
Konami Holdings Corp. 17,800 875,997 
Konica Minolta, Inc. 92,000 791,072 
Kose Corp. 6,000 1,111,416 
Kubota Corp. 208,800 3,532,525 
Kuraray Co. Ltd. 69,600 1,160,000 
Kurita Water Industries Ltd. 19,300 626,738 
Kyocera Corp. 63,500 4,064,883 
Kyowa Hakko Kirin Co., Ltd. 50,300 1,092,318 
Kyushu Electric Power Co., Inc. 82,300 1,017,834 
Kyushu Financial Group, Inc. 64,700 318,410 
Kyushu Railway Co. 30,900 992,124 
Lawson, Inc. 9,900 654,748 
LINE Corp. (b) 8,500 307,396 
Lion Corp. 43,300 935,553 
LIXIL Group Corp. 52,200 1,171,301 
M3, Inc. 41,200 1,562,148 
Mabuchi Motor Co. Ltd. 9,500 479,693 
Makita Corp. 44,400 1,998,244 
Marubeni Corp. 323,000 2,435,205 
Marui Group Co. Ltd. 39,500 822,013 
Maruichi Steel Tube Ltd. 10,800 369,978 
Mazda Motor Corp. 111,000 1,544,882 
McDonald's Holdings Co. (Japan) Ltd. 13,300 622,905 
Mebuki Financial Group, Inc. 192,740 749,309 
Medipal Holdings Corp. 33,200 713,988 
Meiji Holdings Co. Ltd. 24,200 1,943,615 
Minebea Mitsumi, Inc. 76,700 1,541,437 
Misumi Group, Inc. 55,900 1,549,369 
Mitsubishi Chemical Holdings Corp. 278,800 2,651,048 
Mitsubishi Corp. 297,400 8,234,813 
Mitsubishi Electric Corp. 381,000 5,856,847 
Mitsubishi Estate Co. Ltd. 247,600 4,524,284 
Mitsubishi Gas Chemical Co., Inc. 34,000 800,549 
Mitsubishi Heavy Industries Ltd. 62,700 2,481,158 
Mitsubishi Materials Corp. 21,400 653,824 
Mitsubishi Motors Corp. of Japan 129,800 968,869 
Mitsubishi Tanabe Pharma Corp. 43,200 823,535 
Mitsubishi UFJ Financial Group, Inc. 2,346,400 15,724,032 
Mitsubishi UFJ Lease & Finance Co. Ltd. 88,100 561,706 
Mitsui & Co. Ltd. 336,500 6,083,903 
Mitsui Chemicals, Inc. 37,000 1,062,752 
Mitsui Fudosan Co. Ltd. 176,300 4,534,097 
Mitsui OSK Lines Ltd. 23,600 700,531 
mixi, Inc. 7,900 260,876 
Mizuho Financial Group, Inc. 4,743,400 8,581,934 
MS&AD Insurance Group Holdings, Inc. 94,000 3,157,409 
Murata Manufacturing Co. Ltd. 37,800 4,772,111 
Nabtesco Corp. 21,500 777,831 
Nagoya Railroad Co. Ltd. 35,800 940,192 
NEC Corp. 50,600 1,390,898 
New Hampshire Foods Ltd. 18,700 818,510 
Nexon Co. Ltd. (b) 76,900 1,120,579 
NGK Insulators Ltd. 50,100 922,075 
NGK Spark Plug Co. Ltd. 30,300 781,614 
Nidec Corp. 47,000 7,369,008 
Nikon Corp. 66,700 1,164,138 
Nintendo Co. Ltd. 22,300 9,369,936 
Nippon Building Fund, Inc. 260 1,462,678 
Nippon Electric Glass Co. Ltd. 15,800 455,992 
Nippon Express Co. Ltd. 15,800 1,195,262 
Nippon Paint Holdings Co. Ltd. 32,100 1,315,478 
Nippon Prologis REIT, Inc. 349 735,224 
Nippon Steel & Sumitomo Metal Corp. 150,570 3,284,938 
Nippon Telegraph & Telephone Corp. 135,800 6,444,414 
Nippon Yusen KK 30,800 657,585 
Nissan Chemical Industries Co. Ltd. 23,700 1,056,874 
Nissan Motor Co. Ltd. 455,700 4,800,023 
Nisshin Seifun Group, Inc. 37,695 825,138 
Nissin Food Holdings Co. Ltd. 11,600 854,190 
Nitori Holdings Co. Ltd. 15,700 2,654,007 
Nitto Denko Corp. 32,200 2,400,567 
NKSJ Holdings, Inc. 70,050 2,941,177 
NOK Corp. 19,800 407,519 
Nomura Holdings, Inc. 717,700 4,133,633 
Nomura Real Estate Holdings, Inc. 24,300 604,166 
Nomura Real Estate Master Fund, Inc. 758 1,058,787 
Nomura Research Institute Ltd. 26,102 1,349,033 
NSK Ltd. 76,100 1,023,299 
NTT Data Corp. 124,400 1,341,636 
NTT DOCOMO, Inc. 267,100 6,900,264 
Obayashi Corp. 126,900 1,464,945 
OBIC Co. Ltd. 12,800 1,073,692 
Odakyu Electric Railway Co. Ltd. 57,900 1,250,475 
Oji Holdings Corp. 168,000 1,183,315 
Olympus Corp. 57,200 2,137,413 
OMRON Corp. 37,600 2,043,030 
Ono Pharmaceutical Co. Ltd. 79,400 1,840,828 
Oracle Corp. Japan 7,900 650,384 
Oriental Land Co. Ltd. 43,000 4,293,313 
ORIX Corp. 261,600 4,604,083 
Osaka Gas Co. Ltd. 73,300 1,578,377 
Otsuka Corp. 20,200 942,371 
Otsuka Holdings Co. Ltd. 77,200 4,047,845 
Panasonic Corp. 433,900 6,424,822 
Park24 Co. Ltd. 22,300 632,364 
Pola Orbis Holdings, Inc. 17,900 782,675 
Rakuten, Inc. 180,000 1,279,184 
Recruit Holdings Co. Ltd. 217,100 5,018,402 
Renesas Electronics Corp. (b) 164,100 1,723,260 
Resona Holdings, Inc. 430,600 2,452,356 
Ricoh Co. Ltd. 137,800 1,350,016 
Rinnai Corp. 6,700 667,426 
ROHM Co. Ltd. 18,800 1,757,556 
Ryohin Keikaku Co. Ltd. 4,600 1,580,040 
Sankyo Co. Ltd. (Gunma) 8,600 302,479 
Santen Pharmaceutical Co. Ltd. 73,900 1,247,215 
SBI Holdings, Inc. Japan 39,330 995,482 
Secom Co. Ltd. 41,600 3,121,142 
Sega Sammy Holdings, Inc. 35,800 588,152 
Seibu Holdings, Inc. 44,500 752,657 
Seiko Epson Corp. 54,400 1,022,613 
Sekisui Chemical Co. Ltd. 78,200 1,387,742 
Sekisui House Ltd. 116,600 2,137,987 
Seven & i Holdings Co. Ltd. 147,900 6,516,595 
Seven Bank Ltd. 110,400 371,636 
Sharp Corp. (a) 30,300 891,095 
Shimadzu Corp. 49,000 1,333,919 
Shimamura Co. Ltd. 4,400 513,172 
SHIMANO, Inc. 14,600 1,941,859 
SHIMIZU Corp. 109,100 1,081,819 
Shin-Etsu Chemical Co. Ltd. 76,600 7,711,151 
Shinsei Bank Ltd. 31,500 492,151 
Shionogi & Co. Ltd. 58,800 3,030,362 
Shiseido Co. Ltd. 74,900 4,872,748 
Shizuoka Bank Ltd. 101,900 1,036,524 
Showa Shell Sekiyu K.K. 35,300 499,534 
SMC Corp. 11,300 4,312,441 
SoftBank Corp. 162,300 12,401,134 
Sohgo Security Services Co., Ltd. 13,700 677,982 
Sony Corp. 248,800 11,620,482 
Sony Financial Holdings, Inc. 34,700 634,516 
Stanley Electric Co. Ltd. 27,500 997,416 
Start Today Co. Ltd. 37,800 1,092,645 
Subaru Corp. 121,300 4,082,169 
Sumco Corp. 45,600 1,127,069 
Sumitomo Chemical Co. Ltd. 309,000 1,777,909 
Sumitomo Corp. 234,800 4,230,137 
Sumitomo Electric Industries Ltd. 147,400 2,264,529 
Sumitomo Heavy Industries Ltd. 23,600 904,537 
Sumitomo Metal Mining Co. Ltd. 49,000 2,105,763 
Sumitomo Mitsui Financial Group, Inc. 264,500 11,023,901 
Sumitomo Mitsui Trust Holdings, Inc. 64,600 2,745,441 
Sumitomo Realty & Development Co. Ltd. 71,000 2,824,543 
Sumitomo Rubber Industries Ltd. 33,700 603,283 
Sundrug Co. Ltd. 14,200 731,303 
Suntory Beverage & Food Ltd. 27,200 1,341,090 
Suzuken Co. Ltd. 13,930 600,167 
Suzuki Motor Corp. 68,000 3,664,362 
Sysmex Corp. 30,600 2,709,550 
T&D Holdings, Inc. 104,900 1,783,837 
Taiheiyo Cement Corp. 23,400 887,239 
Taisei Corp. 39,600 2,140,834 
Taisho Pharmaceutical Holdings Co. Ltd. 6,200 594,932 
Taiyo Nippon Sanso Corp. 25,100 372,643 
Takashimaya Co. Ltd. 61,000 524,515 
Takeda Pharmaceutical Co. Ltd. 140,400 5,912,251 
TDK Corp. 25,300 2,187,020 
Teijin Ltd. 39,100 737,149 
Temp Holdings Co., Ltd. 35,200 838,141 
Terumo Corp. 64,000 3,629,711 
The Hachijuni Bank Ltd. 81,600 432,184 
The Suruga Bank Ltd. 32,800 446,454 
THK Co. Ltd. 24,200 847,841 
Tobu Railway Co. Ltd. 38,300 1,222,713 
Toho Co. Ltd. 21,600 723,161 
Toho Gas Co. Ltd. 15,200 461,617 
Tohoku Electric Power Co., Inc. 89,100 1,150,019 
Tokio Marine Holdings, Inc. 132,300 6,259,199 
Tokyo Electric Power Co., Inc. (b) 286,700 1,366,362 
Tokyo Electron Ltd. 30,900 5,951,331 
Tokyo Gas Co. Ltd. 77,300 2,073,213 
Tokyo Tatemono Co. Ltd. 40,800 622,151 
Tokyu Corp. 103,200 1,737,936 
Tokyu Fudosan Holdings Corp. 100,300 790,876 
Toppan Printing Co. Ltd. 101,000 846,286 
Toray Industries, Inc. 291,400 2,720,095 
Toshiba Corp. (b) 1,288,000 3,452,104 
Tosoh Corp. 57,600 1,023,227 
Toto Ltd. 27,500 1,562,157 
Toyo Seikan Group Holdings Ltd. 33,300 524,844 
Toyo Suisan Kaisha Ltd. 17,000 670,234 
Toyoda Gosei Co. Ltd. 12,200 309,576 
Toyota Industries Corp. 32,300 1,911,645 
Toyota Motor Corp. 513,282 33,657,134 
Toyota Tsusho Corp. 41,000 1,475,805 
Trend Micro, Inc. 23,300 1,398,171 
Tsuruha Holdings, Inc. 7,100 1,021,615 
Unicharm Corp. 79,700 2,241,836 
United Urban Investment Corp. 591 907,151 
USS Co. Ltd. 42,400 892,448 
West Japan Railway Co. 32,100 2,275,659 
Yahoo! Japan Corp. 276,900 1,139,819 
Yakult Honsha Co. Ltd. 21,800 1,555,434 
Yamada Denki Co. Ltd. 121,800 639,528 
Yamaguchi Financial Group, Inc. 40,000 500,549 
Yamaha Corp. 32,700 1,582,355 
Yamaha Motor Co. Ltd. 56,000 1,792,902 
Yamato Holdings Co. Ltd. 67,800 1,747,407 
Yamazaki Baking Co. Ltd. 26,800 587,874 
Yaskawa Electric Corp. 49,500 2,024,012 
Yokogawa Electric Corp. 45,200 998,105 
Yokohama Rubber Co. Ltd. 25,000 591,154 
TOTAL JAPAN  717,025,503 
Korea (South) - 3.6%   
AMOREPACIFIC Corp. 6,312 2,056,996 
AMOREPACIFIC Group, Inc. 5,490 733,077 
BGF Retail Co. Ltd. 1,685 300,521 
BGFretail Co. Ltd. 2,286 27,109 
BS Financial Group, Inc. 49,660 484,578 
Celltrion Healthcare Co. Ltd. 6,701 561,897 
Celltrion, Inc. 16,035 4,057,693 
Cheil Industries, Inc. 14,899 1,947,718 
Cheil Worldwide, Inc. 14,313 255,273 
CJ CheilJedang Corp. 1,663 532,632 
CJ Corp. 2,787 422,894 
CJ E&M Corp. 3,627 306,505 
Coway Co. Ltd. 10,667 871,548 
Daelim Industrial Co. 5,272 423,365 
Daewoo Engineering & Construction Co. Ltd. (b) 34,104 202,218 
Db Insurance Co. Ltd. 9,439 554,393 
DGB Financial Group Co. Ltd. 32,192 360,720 
Dong Suh Companies, Inc. 8,055 207,218 
Doosan Bobcat, Inc. 6,913 210,438 
Doosan Heavy Industries & Construction Co. Ltd. 11,852 198,101 
E-Mart Co. Ltd. 4,219 1,063,688 
GS Engineering & Construction Corp. 9,428 359,187 
GS Holdings Corp. 9,752 558,207 
GS Retail Co. Ltd. 5,894 204,736 
Hana Financial Group, Inc. 57,887 2,581,044 
Hankook Tire Co. Ltd. 14,136 652,730 
Hanmi Pharm Co. Ltd. 1,201 522,601 
Hanmi Science Co. Ltd. 2,543 184,743 
Hanon Systems 35,715 363,511 
Hanssem Co. Ltd. 2,000 217,569 
Hanwha Chemical Corp. 20,439 552,521 
Hanwha Corp. 8,590 320,443 
Hanwha Life Insurance Co. Ltd. 49,540 288,194 
Hanwha Techwin Co. Ltd. (b) 7,578 170,535 
Hotel Shilla Co. 6,005 650,447 
Hyosung Corp. 4,011 492,515 
Hyundai Department Store Co. Ltd. 2,962 286,264 
Hyundai Engineering & Construction Co. Ltd. 14,767 876,981 
Hyundai Fire & Marine Insurance Co. Ltd. 11,954 426,958 
Hyundai Glovis Co. Ltd. 3,597 565,954 
Hyundai Heavy Industries Co. Ltd. (b) 7,836 874,386 
Hyundai Industrial Development & Construction Co. (c) 11,424 494,968 
Hyundai Mobis 13,313 3,082,965 
Hyundai Motor Co. 30,080 4,494,059 
Hyundai Robotics Co. Ltd. 1,867 736,567 
Hyundai Steel Co. 15,174 858,645 
Hyundai Wia Corp. 2,960 148,425 
Industrial Bank of Korea 48,253 759,216 
ING Life Insurance Korea Ltd. (d) 6,276 241,447 
Kakao Corp. 9,221 955,745 
Kangwon Land, Inc. 22,358 603,353 
KB Financial Group, Inc. 78,833 4,466,879 
KCC Corp. 1,104 403,076 
KEPCO Plant Service & Engineering Co. Ltd. 4,991 236,285 
Kia Motors Corp. 51,961 1,606,003 
Korea Aerospace Industries Ltd. 13,017 525,092 
Korea Electric Power Corp. 50,628 1,766,303 
Korea Express Co. Ltd. (b) 1,608 234,986 
Korea Gas Corp. (b) 5,699 291,622 
Korea Investment Holdings Co. Ltd. 7,462 634,767 
Korea Zinc Co. Ltd. 1,610 651,712 
Korean Air Lines Co. Ltd. 9,109 290,471 
KT Corp. 2,367 60,021 
KT Corp. sponsored ADR (a) 4,577 61,469 
KT&G Corp. 22,882 2,089,651 
Kumho Petro Chemical Co. Ltd. 3,489 350,228 
LG Chemical Ltd. 8,824 2,966,258 
LG Corp. 19,277 1,459,827 
LG Display Co. Ltd. 47,363 1,031,353 
LG Electronics, Inc. 20,801 1,981,186 
LG Household & Health Care Ltd. 1,850 2,366,646 
LG Innotek Co. Ltd. 2,694 293,065 
Lotte Chemical Corp. 3,089 1,194,151 
Lotte Confectionery Co. Ltd. 5,621 341,693 
Lotte Shopping Co. Ltd. 2,147 513,231 
Medy-Tox, Inc. 810 527,634 
Mirae Asset Daewoo Co. Ltd. 69,952 638,822 
NAVER Corp. 5,478 3,662,486 
NCSOFT Corp. 3,517 1,182,268 
Netmarble Corp. (d) 4,872 671,027 
Oci Co. Ltd. 3,193 465,119 
Orion Corp./Republic of Korea 4,154 482,922 
Ottogi Corp. 238 176,457 
POSCO 14,683 5,045,605 
Posco Daewoo Corp. 8,274 174,222 
S-Oil Corp. 8,611 884,478 
S1 Corp. 3,231 295,969 
Samsung Biologics Co. Ltd. (b)(d) 3,302 1,504,658 
Samsung Card Co. Ltd. 5,624 195,882 
Samsung Electro-Mechanics Co. Ltd. 11,405 1,261,986 
Samsung Electronics Co. Ltd. 19,051 47,208,378 
Samsung Fire & Marine Insurance Co. Ltd. 6,071 1,516,439 
Samsung Heavy Industries Co. Ltd. (b) 48,326 331,672 
Samsung Life Insurance Co. Ltd. 13,817 1,509,526 
Samsung SDI Co. Ltd. 10,778 1,846,780 
Samsung SDS Co. Ltd. 6,949 1,589,752 
Samsung Securities Co. Ltd. 12,729 440,970 
Shinhan Financial Group Co. Ltd. 83,573 3,711,237 
Shinsegae Co. Ltd. 1,411 550,078 
SillaJen, Inc. (b) 10,410 817,500 
SK C&C Co. Ltd. 6,451 1,770,987 
SK Energy Co. Ltd. 12,673 2,325,321 
SK Hynix, Inc. 114,840 9,061,307 
SK Networks Co. Ltd. 27,926 146,550 
SK Telecom Co. Ltd. 3,863 823,164 
STX Pan Ocean Co. Ltd. (Korea) (b) 43,787 224,879 
Woori Bank 95,874 1,436,868 
Woori Investment & Securities Co. Ltd. 26,870 391,411 
Yuhan Corp. 1,637 350,046 
TOTAL KOREA (SOUTH)  158,341,873 
Luxembourg - 0.2%   
ArcelorMittal SA (Netherlands) 131,180 4,450,612 
Eurofins Scientific SA 2,242 1,212,391 
Millicom International Cellular SA (depository receipt) 13,017 868,132 
PLAY Communications SA (d) 23,760 200,649 
RTL Group SA 7,675 632,564 
SES SA (France) (depositary receipt) 71,784 1,109,585 
Tenaris SA 92,512 1,733,790 
TOTAL LUXEMBOURG  10,207,723 
Malaysia - 0.6%   
AirAsia Group BHD 300,900 294,105 
Alliance Bank Malaysia Bhd 222,900 246,203 
AMMB Holdings Bhd 318,100 314,334 
Astro Malaysia Holdings Bhd (d) 299,300 145,022 
Axiata Group Bhd 521,979 700,732 
British American Tobacco (Malaysia) Bhd 30,700 191,518 
Bumiputra-Commerce Holdings Bhd 927,871 1,691,865 
Dialog Group Bhd 601,322 470,133 
DiGi.com Bhd 593,900 697,454 
Felda Global Ventures Holdings Bhd (d) 279,200 120,894 
Gamuda Bhd 326,200 426,157 
Genting Bhd 462,400 1,050,643 
Genting Malaysia Bhd 610,800 795,651 
Genting Plantations Bhd 48,500 122,471 
Hap Seng Consolidated Bhd 125,000 311,186 
Hartalega Holdings Bhd 254,700 379,262 
Hong Leong Bank Bhd 124,800 601,986 
Hong Leong Credit Bhd 45,600 225,232 
IHH Healthcare Bhd (d) 397,000 613,661 
IJM Corp. Bhd 551,500 417,724 
IOI Corp. Bhd 421,200 511,980 
IOI Properties Group Bhd 403,750 160,416 
Kuala Lumpur Kepong Bhd 91,800 595,248 
Malayan Banking Bhd 846,872 2,322,857 
Malaysia Airports Holdings Bhd 159,402 365,374 
Maxis Bhd 374,000 554,177 
MISC Bhd 261,100 474,347 
Nestle (Malaysia) BHD 11,200 393,630 
Petronas Chemicals Group Bhd 460,600 990,053 
Petronas Dagangan Bhd 47,700 327,602 
Petronas Gas Bhd 144,600 654,586 
PPB Group Bhd 90,900 445,013 
Press Metal Bhd 252,200 307,853 
Public Bank Bhd 575,900 3,486,533 
RHB Capital Bhd 176,374 237,276 
RHB Capital Bhd (b)(c) 46,292 
SapuraKencana Petroleum Bhd 783,600 126,217 
Sime Darby Bhd 455,285 308,488 
Sime Darby Plantation Bhd 493,485 699,904 
Sime Darby Property Bhd 481,285 182,447 
SP Setia Bhd 308,677 250,064 
Telekom Malaysia Bhd 213,826 287,763 
Tenaga Nasional Bhd 664,200 2,675,882 
UMW Holdings Bhd (b) 94,200 146,325 
Westports Holdings Bhd 234,100 197,885 
YTL Corp. Bhd 852,422 313,461 
YTL Power International Bhd 525,587 122,796 
TOTAL MALAYSIA  26,954,410 
Malta - 0.0%   
Brait SA 70,058 242,081 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 1,340,600 347,600 
Mexico - 0.7%   
Alfa SA de CV Series A 627,200 805,210 
America Movil S.A.B. de CV Series L 6,646,700 6,151,966 
Banco Santander Mexico SA 350,460 519,448 
CEMEX S.A.B. de CV unit 2,852,494 1,784,520 
Coca-Cola FEMSA S.A.B. de CV Series L 95,600 620,718 
Compartamos S.A.B. de CV (a) 185,600 148,364 
El Puerto de Liverpool S.A.B. de CV Class C 38,270 255,337 
Embotelladoras Arca S.A.B. de CV 84,900 586,790 
Fibra Uno Administracion SA de CV 634,500 1,050,712 
Fomento Economico Mexicano S.A.B. de CV unit 386,400 3,735,066 
Gruma S.A.B. de CV Series B 41,265 504,018 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 68,700 714,622 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 39,750 714,848 
Grupo Bimbo S.A.B. de CV Series A 315,300 733,877 
Grupo Carso SA de CV Series A1 86,700 311,529 
Grupo Financiero Banorte S.A.B. de CV Series O 496,000 3,103,506 
Grupo Financiero Inbursa S.A.B. de CV Series O 445,000 741,427 
Grupo Lala S.A.B. de CV (a) 121,900 155,911 
Grupo Mexico SA de CV Series B 760,824 2,529,157 
Grupo Televisa SA de CV 480,600 1,724,831 
Industrias Penoles SA de CV 28,485 597,876 
Infraestructura Energetica Nova S.A.B. de CV 102,600 451,665 
Kimberly-Clark de Mexico SA de CV Series A 292,000 529,914 
Mexichem S.A.B. de CV 201,137 628,296 
Promotora y Operadora de Infraestructura S.A.B. de CV 43,550 446,257 
Wal-Mart de Mexico SA de CV Series V 1,022,800 2,842,197 
TOTAL MEXICO  32,388,062 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 537,500 499,781 
HKT Trust/HKT Ltd. unit 739,860 973,423 
TOTAL MULTI-NATIONAL  1,473,204 
Netherlands - 3.0%   
ABN AMRO Group NV GDR 83,348 2,589,751 
AEGON NV 346,478 2,548,934 
AerCap Holdings NV (b) 26,470 1,379,881 
Airbus Group NV 114,298 13,416,662 
Akzo Nobel NV 49,670 4,492,614 
Akzo Nobel NV rights (b)(e) 49,670 116,364 
Altice NV:   
Class A (a)(b) 89,808 860,893 
Class B (b) 17,041 163,086 
ASML Holding NV (Netherlands) 76,565 14,562,433 
CNH Industrial NV 199,355 2,465,189 
EXOR NV 21,017 1,561,893 
Ferrari NV 24,396 3,006,455 
Fiat Chrysler Automobiles NV 212,301 4,760,878 
Heineken Holding NV 22,547 2,292,577 
Heineken NV (Bearer) 50,810 5,356,567 
ING Groep NV (Certificaten Van Aandelen) 764,043 12,874,523 
Koninklijke Ahold Delhaize NV 251,982 6,087,391 
Koninklijke Boskalis Westminster NV 18,343 544,250 
Koninklijke DSM NV 35,905 3,721,059 
Koninklijke KPN NV 654,153 2,035,878 
Koninklijke Philips Electronics NV 185,075 7,833,527 
NN Group NV 60,946 2,921,120 
NXP Semiconductors NV (b) 66,830 7,010,467 
QIAGEN NV (Germany) (b) 44,073 1,452,444 
Randstad NV 23,184 1,494,480 
RELX NV 190,622 4,054,887 
Steinhoff International Holdings NV (South Africa) 576,137 88,746 
STMicroelectronics NV (France) 124,363 2,715,503 
Unilever NV (Certificaten Van Aandelen) (Bearer) 320,115 18,351,741 
Vopak NV 13,683 675,815 
Wolters Kluwer NV 57,636 3,120,223 
TOTAL NETHERLANDS  134,556,231 
New Zealand - 0.1%   
Auckland International Airport Ltd. 193,675 869,401 
Fisher & Paykel Healthcare Corp. 111,916 1,003,987 
Fletcher Building Ltd. 175,937 781,110 
Mercury Nz Ltd. 136,513 306,401 
Meridian Energy Ltd. 258,545 534,822 
Ryman Healthcare Group Ltd. 77,827 580,446 
Spark New Zealand Ltd. 352,751 858,757 
TOTAL NEW ZEALAND  4,934,924 
Norway - 0.5%   
DNB ASA 193,309 3,615,139 
Gjensidige Forsikring ASA 38,520 610,765 
Marine Harvest ASA 81,051 1,764,526 
Norsk Hydro ASA 268,538 1,677,276 
Orkla ASA 163,126 1,511,635 
Schibsted ASA (B Shares) 18,451 496,792 
Statoil ASA 229,023 5,856,739 
Telenor ASA 148,630 3,289,762 
Yara International ASA 34,693 1,466,029 
TOTAL NORWAY  20,288,663 
Pakistan - 0.0%   
Habib Bank Ltd. 129,900 218,842 
Lucky Cement Ltd. 26,450 151,326 
MCB Bank Ltd. 74,000 133,728 
Oil & Gas Development Co. Ltd. 126,500 182,498 
United Bank Ltd. 90,100 156,780 
TOTAL PAKISTAN  843,174 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 277,710 1,633,788 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 35,796 570,946 
Philippines - 0.2%   
Aboitiz Equity Ventures, Inc. 373,800 502,991 
Aboitiz Power Corp. 295,900 217,222 
Alliance Global Group, Inc. (b) 783,100 197,543 
Ayala Corp. 50,640 943,395 
Ayala Land, Inc. 1,456,400 1,146,176 
Bank of the Philippine Islands (BPI) 170,906 346,449 
BDO Unibank, Inc. 397,304 1,009,279 
DMCI Holdings, Inc. 844,450 179,771 
Globe Telecom, Inc. 6,890 205,445 
GT Capital Holdings, Inc. 16,475 334,425 
International Container Terminal Services, Inc. 106,740 174,363 
JG Summit Holdings, Inc. 545,300 672,753 
Jollibee Food Corp. 82,060 451,657 
Manila Electric Co. 42,530 264,426 
Megaworld Corp. 2,361,100 205,201 
Metro Pacific Investments Corp. 2,677,200 263,713 
Metropolitan Bank & Trust Co. 158,120 259,375 
Philippine Long Distance Telephone Co. 16,375 458,975 
Robinsons Land Corp. 380,806 131,532 
Security Bank Corp. 43,910 177,089 
SM Investments Corp. 46,153 835,862 
SM Prime Holdings, Inc. 1,716,500 1,132,916 
Universal Robina Corp. 167,420 455,060 
TOTAL PHILIPPINES  10,565,618 
Poland - 0.3%   
Alior Bank SA (b) 17,300 350,204 
Bank Handlowy w Warszawie SA 6,306 149,123 
Bank Millennium SA (b) 116,377 283,495 
Bank Polska Kasa Opieki SA 31,425 1,046,649 
Bank Zachodni WBK SA 6,651 703,785 
BRE Bank SA 2,838 347,205 
CD Projekt RED SA 12,859 457,228 
Cyfrowy Polsat SA 41,525 303,583 
Dino Polska SA (b)(d) 9,430 255,239 
Grupa Lotos SA 17,638 277,999 
Jastrzebska Spolka Weglowa SA (b) 10,000 235,965 
KGHM Polska Miedz SA (Bearer) 28,106 749,846 
LPP SA 248 647,937 
NG2 SA 5,491 405,194 
Polish Oil & Gas Co. SA 331,662 583,977 
Polska Grupa Energetyczna SA (b) 160,952 480,125 
Polski Koncern Naftowy Orlen SA 58,978 1,507,280 
Powszechna Kasa Oszczednosci Bank SA (b) 183,495 2,187,396 
Powszechny Zaklad Ubezpieczen SA 119,278 1,458,584 
Tauron Polska Energia SA (b) 183,497 122,859 
Telekomunikacja Polska SA (b) 134,004 201,205 
Zaklady Azotowe w Tarnowie-Moscicach SA 8,499 129,549 
TOTAL POLAND  12,884,427 
Portugal - 0.1%   
Banco Espirito Santo SA (Reg.) (b)(c) 82,039 
Energias de Portugal SA 462,398 1,717,613 
Galp Energia SGPS SA Class B 101,554 1,951,762 
Jeronimo Martins SGPS SA 48,341 848,796 
TOTAL PORTUGAL  4,518,172 
Qatar - 0.1%   
Barwa Real Estate Co. 18,460 179,226 
Doha Bank 30,003 223,230 
Ezdan Holding Group (b) 157,953 486,310 
Industries Qatar QSC (b) 31,795 978,039 
Masraf al Rayan 72,989 713,251 
Qatar Electricity & Water Co. 5,568 302,792 
Qatar Gas Transport Co. Ltd. (Nakilat) 56,297 227,136 
Qatar Insurance Co. SAQ 34,095 341,605 
Qatar Islamic Bank 11,674 343,102 
Qatar National Bank SAQ 47,216 1,958,148 
Qatar Telecom (Qtel) Q.S.C. (b) 15,850 344,773 
The Commercial Bank of Qatar 39,983 396,975 
TOTAL QATAR  6,494,587 
Russia - 0.8%   
Alrosa Co. Ltd. 523,901 745,512 
Gazprom OAO 1,502,032 3,480,750 
Gazprom OAO sponsored ADR (Reg. S) 300,704 1,391,658 
Inter Rao Ues JSC 5,981,000 379,912 
Lukoil PJSC 57,028 3,767,415 
Lukoil PJSC sponsored ADR 26,871 1,794,983 
Magnit OJSC GDR (Reg. S) 71,120 1,350,569 
Magnitogorsk Iron & Steel Works PJSC 420,400 324,984 
MMC Norilsk Nickel PJSC 9,058 1,547,205 
MMC Norilsk Nickel PJSC sponsored ADR 33,213 571,098 
Mobile TeleSystems OJSC sponsored ADR 100,626 1,056,573 
Moscow Exchange MICEX-RTS OAO 282,805 542,280 
NOVATEK OAO GDR (Reg. S) 17,831 2,264,537 
Novolipetsk Steel OJSC 228,240 584,115 
PhosAgro OJSC GDR (Reg. S) 22,289 321,407 
Polyus PJSC 5,052 320,501 
Rosneft Oil Co. OJSC 176,573 1,073,921 
Rosneft Oil Co. OJSC GDR (Reg. S) 57,870 352,660 
RusHydro PJSC 13,548,000 160,280 
RusHydro PJSC ADR 68,343 77,638 
Sberbank of Russia 2,123,846 7,570,439 
Severstal PAO 28,843 463,476 
Severstal PAO GDR (Reg. S) 14,614 233,386 
Surgutneftegas OJSC 649,900 303,832 
Surgutneftegas OJSC sponsored ADR 72,932 342,635 
Tatneft PAO 226,331 2,411,837 
Tatneft PAO sponsored ADR 11,837 763,487 
VTB Bank OJSC (b) 992,480,334 850,596 
TOTAL RUSSIA  35,047,686 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 491,600 986,195 
CapitaCommercial Trust (REIT) 509,046 695,457 
CapitaLand Ltd. 502,400 1,416,692 
CapitaMall Trust 471,500 744,578 
City Developments Ltd. 78,900 749,779 
ComfortDelgro Corp. Ltd. 445,500 751,910 
DBS Group Holdings Ltd. 353,629 8,158,959 
Hutchison Port Holdings Trust 1,054,000 351,405 
Jardine Cycle & Carriage Ltd. 19,300 496,566 
Keppel Corp. Ltd. 290,800 1,783,523 
Oversea-Chinese Banking Corp. Ltd. 620,994 6,413,992 
Sembcorp Industries Ltd. 203,100 467,825 
Singapore Airlines Ltd. 107,300 875,500 
Singapore Airport Terminal Service Ltd. 132,600 551,006 
Singapore Exchange Ltd. 160,700 931,903 
Singapore Press Holdings Ltd. 310,500 634,487 
Singapore Technologies Engineering Ltd. 316,400 827,966 
Singapore Telecommunications Ltd. 1,601,700 4,236,650 
StarHub Ltd. 126,400 215,628 
Suntec (REIT) 505,300 742,744 
United Overseas Bank Ltd. 264,353 5,986,070 
UOL Group Ltd. 97,077 641,157 
Wilmar International Ltd. 303,800 743,225 
Yangzijiang Shipbuilding Holdings Ltd. 470,400 410,774 
TOTAL SINGAPORE  39,813,991 
South Africa - 1.6%   
Anglo American Platinum Ltd. 10,251 275,087 
AngloGold Ashanti Ltd. 78,144 698,503 
Aspen Pharmacare Holdings Ltd. 76,543 1,650,395 
Barclays Africa Group Ltd. 140,949 2,064,519 
Bidcorp Ltd. 66,286 1,523,798 
Bidvest Group Ltd. 67,521 1,322,680 
Capitec Bank Holdings Ltd. 7,763 552,679 
Coronation Fund Managers Ltd. 43,671 259,335 
Discovery Ltd. 72,036 1,000,210 
Exxaro Resources Ltd. 48,151 427,098 
FirstRand Ltd. 666,576 3,569,866 
Fortress (REIT) Ltd.:   
Class A 214,018 294,536 
Class B 145,291 202,480 
Foschini Ltd. 45,861 789,060 
Gold Fields Ltd. 156,596 594,525 
Growthpoint Properties Ltd. 574,344 1,328,760 
Hyprop Investments Ltd. 51,417 469,415 
Imperial Holdings Ltd. 28,874 555,423 
Investec Ltd. 53,474 421,821 
Kumba Iron Ore Ltd. 12,325 263,292 
Liberty Holdings Ltd. 24,831 261,631 
Life Healthcare Group Holdings Ltd. 254,676 600,343 
MMI Holdings Ltd. 180,265 320,904 
Mondi Ltd. 22,657 661,015 
Mr Price Group Ltd. 48,866 1,072,309 
MTN Group Ltd. 331,301 3,325,169 
Naspers Ltd. Class N 86,249 21,011,944 
Nedbank Group Ltd. 45,301 1,080,339 
Netcare Ltd. 197,069 490,719 
Pick 'n Pay Stores Ltd. 69,970 452,966 
Pioneer Foods Ltd. 24,540 238,663 
PSG Group Ltd. 28,782 517,858 
Rand Merchant Insurance Holdings Ltd. 131,214 434,548 
Redefine Properties Ltd. 1,022,296 982,441 
Remgro Ltd. 104,507 1,881,505 
Resilient Property Income Fund Ltd. 56,772 308,898 
RMB Holdings Ltd. 143,673 901,156 
Sanlam Ltd. 275,585 1,740,876 
Sappi Ltd. 106,648 680,593 
Sasol Ltd. 109,968 3,931,066 
Shoprite Holdings Ltd. 87,003 1,730,996 
Sibanye-Stillwater 343,722 301,293 
Spar Group Ltd. 36,822 619,008 
Standard Bank Group Ltd. 255,968 4,390,005 
Telkom SA Ltd. 55,360 252,821 
Tiger Brands Ltd. 33,118 1,035,050 
Truworths International Ltd. 90,418 739,220 
Vodacom Group Ltd. 118,722 1,484,252 
Woolworths Holdings Ltd. 201,527 1,035,674 
TOTAL SOUTH AFRICA  70,746,744 
Spain - 2.1%   
Abertis Infraestructuras SA 137,199 3,025,344 
ACS Actividades de Construccion y Servicios SA 46,974 1,979,709 
Aena Sme SA (d) 13,391 2,766,853 
Amadeus IT Holding SA Class A 86,205 6,318,940 
Banco Bilbao Vizcaya Argentaria SA 1,308,971 10,592,270 
Banco de Sabadell SA 1,044,630 2,051,822 
Banco Santander SA (Spain) 3,170,373 20,570,759 
Bankia SA 236,899 1,043,331 
Bankinter SA 130,807 1,371,115 
CaixaBank SA 710,787 3,456,468 
Enagas SA 44,465 1,296,220 
Endesa SA 62,286 1,456,945 
Ferrovial SA 94,907 2,032,603 
Gamesa Corporacion Tecnologica SA (a) 48,445 834,534 
Gas Natural SDG SA 67,773 1,711,330 
Grifols SA 59,691 1,683,135 
Iberdrola SA 1,139,452 8,828,430 
Inditex SA 214,223 6,669,175 
International Consolidated Airlines Group SA 98,034 849,063 
International Consolidated Airlines Group SA CDI 20,429 177,241 
MAPFRE SA (Reg.) 220,388 767,549 
Red Electrica Corporacion SA 86,490 1,801,623 
Repsol SA 248,059 4,747,963 
Telefonica SA 917,706 9,351,871 
TOTAL SPAIN  95,384,293 
Sweden - 1.7%   
Alfa Laval AB 56,789 1,411,837 
ASSA ABLOY AB (B Shares) 197,449 4,153,427 
Atlas Copco AB:   
(A Shares) 131,608 5,171,648 
(B Shares) 76,816 2,739,591 
Boliden AB 54,309 1,890,379 
Electrolux AB (B Shares) 46,894 1,238,668 
Essity AB Class B 119,857 3,052,321 
Getinge AB (B Shares) 45,574 425,000 
H&M Hennes & Mauritz AB (B Shares) (a) 188,181 3,233,775 
Hexagon AB (B Shares) 50,314 2,918,869 
Husqvarna AB (B Shares) 83,005 800,414 
ICA Gruppen AB (a) 15,877 494,080 
Industrivarden AB (C Shares) 32,774 692,971 
Investor AB (B Shares) 89,802 3,928,802 
Kinnevik AB (B Shares) 45,601 1,651,325 
Lundbergfoeretagen AB 7,611 517,155 
Lundin Petroleum AB 36,413 1,007,146 
Nordea Bank AB 597,099 6,094,649 
Sandvik AB 222,683 3,814,524 
Securitas AB (B Shares) 62,976 1,021,234 
Skandinaviska Enskilda Banken AB (A Shares) 300,301 2,829,259 
Skanska AB (B Shares) 66,704 1,304,882 
SKF AB (B Shares) 72,891 1,482,101 
Svenska Handelsbanken AB (A Shares) 301,477 3,362,151 
Swedbank AB (A Shares) 178,474 3,891,855 
Swedish Match Co. AB 35,230 1,585,152 
Tele2 AB (B Shares) 72,098 938,621 
Telefonaktiebolaget LM Ericsson (B Shares) 606,687 4,625,060 
TeliaSonera AB 545,802 2,691,409 
Volvo AB (B Shares) 307,168 5,233,676 
TOTAL SWEDEN  74,201,981 
Switzerland - 5.0%   
ABB Ltd. (Reg.) 362,958 8,462,576 
Adecco SA (Reg.) 31,793 2,115,470 
Baloise Holdings AG 9,384 1,493,296 
Barry Callebaut AG 436 786,208 
Clariant AG (Reg.) 45,082 1,046,758 
Coca-Cola HBC AG 36,000 1,211,276 
Compagnie Financiere Richemont SA Series A 102,479 9,741,525 
Credit Suisse Group AG 478,410 8,068,979 
Dufry AG 6,938 986,092 
Ems-Chemie Holding AG 1,630 1,011,554 
Galenica AG 9,581 1,520,295 
Geberit AG (Reg.) 7,334 3,142,297 
Givaudan SA 1,825 4,086,453 
Julius Baer Group Ltd. 43,644 2,590,200 
Kuehne & Nagel International AG 10,757 1,682,477 
Lafargeholcim Ltd. (Reg.) 89,860 5,019,828 
Lindt & Spruengli AG 20 1,521,695 
Lindt & Spruengli AG (participation certificate) 205 1,319,778 
Lonza Group AG 14,789 3,644,272 
Nestle SA (Reg. S) 612,021 47,413,324 
Novartis AG 437,517 33,677,572 
Pargesa Holding SA 8,018 753,660 
Partners Group Holding AG 3,385 2,481,536 
Roche Holding AG (participation certificate) 138,178 30,701,420 
Schindler Holding AG:   
(participation certificate) 8,130 1,686,708 
(Reg.) 3,929 789,368 
SGS SA (Reg.) 1,058 2,580,410 
Sika AG 428 3,122,543 
Sonova Holding AG Class B 10,488 1,737,770 
Straumann Holding AG 1,996 1,364,571 
Swatch Group AG (Bearer) 6,081 2,936,184 
Swatch Group AG (Bearer) (Reg.) 11,122 994,920 
Swiss Life Holding AG 6,363 2,237,644 
Swiss Prime Site AG 14,124 1,326,174 
Swiss Re Ltd. 61,762 5,899,486 
Swisscom AG 5,146 2,476,934 
UBS Group AG 720,324 12,189,539 
Zurich Insurance Group AG 29,664 9,475,736 
TOTAL SWITZERLAND  223,296,528 
Taiwan - 2.7%   
Acer, Inc. 558,288 425,020 
Advantech Co. Ltd. 65,591 449,484 
ASE Industrial Holding Co. Ltd. 683,840 1,841,590 
Asia Cement Corp. 449,466 478,810 
Asia Pacific Telecom Co. Ltd. (b) 441,000 130,538 
ASUSTeK Computer, Inc. 139,000 1,296,741 
AU Optronics Corp. 1,780,000 732,694 
Catcher Technology Co. Ltd. 129,000 1,428,099 
Cathay Financial Holding Co. Ltd. 1,622,285 2,904,830 
Chang Hwa Commercial Bank 912,327 524,240 
Cheng Shin Rubber Industry Co. Ltd. 370,899 597,006 
Chicony Electronics Co. Ltd. 102,874 253,004 
China Airlines Ltd. (b) 590,490 215,016 
China Development Finance Holding Corp. 2,596,800 980,106 
China Life Insurance Co. Ltd. 527,071 570,040 
China Steel Corp. 2,455,426 1,939,554 
Chinatrust Financial Holding Co. Ltd. 3,435,579 2,445,789 
Chunghwa Telecom Co. Ltd. 755,000 2,867,738 
Compal Electronics, Inc. 799,000 519,509 
Delta Electronics, Inc. 382,621 1,384,739 
E.SUN Financial Holdings Co. Ltd. 1,771,963 1,250,831 
ECLAT Textile Co. Ltd. 33,941 408,754 
EVA Airways Corp. 454,539 243,650 
Evergreen Marine Corp. (Taiwan) (b) 433,450 218,854 
Far Eastern Textile Ltd. 620,664 591,338 
Far EasTone Telecommunications Co. Ltd. 307,000 810,800 
Feng Tay Enterprise Co. Ltd. 64,436 291,674 
First Financial Holding Co. Ltd. 1,880,651 1,290,672 
Formosa Chemicals & Fibre Corp. 574,590 2,107,391 
Formosa Petrochemical Corp. 256,000 1,042,718 
Formosa Plastics Corp. 806,480 2,825,120 
Formosa Taffeta Co. Ltd. 149,000 168,171 
Foxconn Technology Co. Ltd. 174,535 432,583 
Fubon Financial Holding Co. Ltd. 1,300,398 2,220,855 
Giant Manufacturing Co. Ltd. 57,000 288,975 
GlobalWafers Co. Ltd. 41,000 660,263 
Highwealth Construction Corp. 176,480 271,225 
HIWIN Technologies Corp. 39,624 595,836 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 3,077,488 8,544,509 
Hotai Motor Co. Ltd. 52,000 508,794 
HTC Corp. (b) 125,000 252,975 
Hua Nan Financial Holdings Co. Ltd. 1,394,382 841,735 
Innolux Corp. 1,835,427 681,801 
Inventec Corp. 476,280 360,211 
Largan Precision Co. Ltd. 20,000 2,322,045 
Lite-On Technology Corp. 401,910 529,426 
Macronix International Co. Ltd. (b) 344,000 545,509 
MediaTek, Inc. 292,970 3,326,223 
Mega Financial Holding Co. Ltd. 2,247,246 1,980,371 
Micro-Star International Co. Ltd. 129,000 402,173 
Nan Ya Plastics Corp. 929,780 2,542,144 
Nanya Technology Corp. 197,000 612,151 
Nien Made Enterprise Co. Ltd. 29,000 257,138 
Novatek Microelectronics Corp. 109,000 456,720 
Pegatron Corp. 392,000 912,319 
Phison Electronics Corp. 29,000 262,067 
Pou Chen Corp. 419,000 523,062 
Powertech Technology, Inc. 144,000 411,488 
President Chain Store Corp. 116,000 1,138,199 
Quanta Computer, Inc. 539,000 978,232 
Realtek Semiconductor Corp. 85,090 321,215 
Ruentex Development Co. Ltd. 177,824 212,554 
Ruentex Industries Ltd. 123,015 237,932 
Shin Kong Financial Holding Co. Ltd. 1,564,331 634,653 
Sinopac Holdings Co. 2,029,995 729,232 
Standard Foods Corp. 112,986 252,944 
Synnex Technology International Corp. 269,500 386,371 
TaiMed Biologics, Inc. (b) 36,000 373,524 
Taishin Financial Holdings Co. Ltd. 1,830,714 888,006 
Taiwan Business Bank 752,009 230,689 
Taiwan Cement Corp. 770,000 1,056,279 
Taiwan Cooperative Financial Holding Co. Ltd. 1,542,100 894,469 
Taiwan High Speed Rail Corp. 327,000 250,724 
Taiwan Mobile Co. Ltd. 326,600 1,203,967 
Taiwan Semiconductor Manufacturing Co. Ltd. 4,826,000 36,696,179 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 4,998 192,173 
TECO Electric & Machinery Co. Ltd. 363,000 294,112 
Unified-President Enterprises Corp. 946,080 2,272,865 
United Microelectronics Corp. 2,372,000 1,276,888 
Vanguard International Semiconductor Corp. 170,000 343,982 
Win Semiconductors Corp. 65,000 486,525 
Winbond Electronics Corp. 569,000 347,640 
Wistron Corp. 496,213 393,891 
WPG Holding Co. Ltd. 311,000 417,753 
Yageo Corp. 40,000 836,954 
Yuanta Financial Holding Co. Ltd. 2,123,372 1,011,589 
TOTAL TAIWAN  118,336,659 
Thailand - 0.6%   
Advanced Info Service PCL (For. Reg.) 206,400 1,358,546 
Airports of Thailand PCL (For. Reg.) 843,500 1,897,346 
Bangkok Bank PCL (For. Reg.) 48,000 305,783 
Bangkok Dusit Medical Services PCL (For. Reg.) 742,900 529,038 
Bangkok Expressway and Metro PCL 1,410,000 345,434 
Banpu PCL (For. Reg.) 391,500 238,964 
Berli Jucker PCL (For. Reg) 229,100 432,385 
BTS Group Holdings PCL 1,132,400 319,106 
Bumrungrad Hospital PCL (For. Reg.) 68,300 409,933 
C.P. ALL PCL (For. Reg.) 983,000 2,703,742 
Central Pattana PCL (For. Reg.) 256,700 654,859 
Charoen Pokphand Foods PCL (For. Reg.) 571,800 441,180 
Delta Electronics PCL (For. Reg.) 108,400 230,660 
Electricity Generating PCL (For. Reg.) 25,100 176,916 
Energy Absolute PCL 215,200 243,267 
Glow Energy PCL (For. Reg.) 98,700 268,773 
Home Product Center PCL (For. Reg.) 750,367 354,903 
Indorama Ventures PCL (For. Reg.) 301,800 572,641 
IRPC PCL (For. Reg.) 1,915,800 426,192 
Kasikornbank PCL 174,400 1,105,359 
Kasikornbank PCL (For. Reg.) 195,200 1,237,191 
KCE Electronics PCL 57,200 123,765 
Krung Thai Bank PCL (For. Reg.) 672,155 385,990 
Minor International PCL (For. Reg.) 430,970 547,308 
PTT Exploration and Production PCL (For. Reg.) 281,644 1,193,156 
PTT Global Chemical PCL (For. Reg.) 447,239 1,381,803 
PTT PCL (For. Reg.) 2,084,000 3,707,302 
Robinsons Department Store PCL (For. Reg.) 112,300 233,403 
Siam Cement PCL (For. Reg.) 81,700 1,208,111 
Siam Commercial Bank PCL (For. Reg.) 360,800 1,494,007 
Thai Oil PCL (For. Reg.) 214,800 639,245 
Thai Union Frozen Products PCL (For. Reg.) 377,200 214,499 
TMB PCL (For. Reg.) 2,093,400 155,904 
True Corp. PCL (For. Reg.) 1,895,812 455,923 
TOTAL THAILAND  25,992,634 
Turkey - 0.2%   
Akbank T.A.S. 440,675 917,779 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 39,807 261,062 
Arcelik A/S 46,392 206,486 
Aselsan A/S 38,256 237,328 
Bim Birlesik Magazalar A/S JSC 43,707 741,882 
Coca-Cola Icecek Sanayi A/S 14,842 131,317 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 380,688 227,732 
Eregli Demir ve Celik Fabrikalari T.A.S. 286,516 716,625 
Ford Otomotiv Sanayi A/S 14,785 204,372 
Haci Omer Sabanci Holding A/S 174,806 413,981 
Koc Holding A/S 145,645 491,925 
Petkim Petrokimya Holding A/S 128,774 227,616 
TAV Havalimanlari Holding A/S 30,938 165,882 
Tofas Turk Otomobil Fabrikasi A/S 23,666 145,768 
Tupras Turkiye Petrol Rafinerileri A/S 23,954 610,334 
Turk Hava Yollari AO (b) 106,091 436,420 
Turk Sise ve Cam Fabrikalari A/S 142,895 158,651 
Turk Telekomunikasyon (b) 98,064 151,607 
Turkcell Iletisim Hizmet A/S 225,428 774,716 
Turkiye Garanti Bankasi A/S 461,557 1,046,488 
Turkiye Halk Bankasi A/S 118,556 241,367 
Turkiye Is Bankasi A/S Series C 300,020 454,967 
Turkiye Vakiflar Bankasi TAO 146,943 215,960 
Ulker Biskuvi Sanayi A/S 29,143 152,814 
Yapi ve Kredi Bankasi A/S (b) 163,482 160,178 
TOTAL TURKEY  9,493,257 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 414,560 793,422 
Aldar Properties PJSC 618,377 353,536 
Damac Properties Dubai Co. PJSC (b) 357,558 269,642 
DP World Ltd. 35,551 791,010 
Dubai Investments Ltd. 322,591 166,866 
Dubai Islamic Bank Pakistan Ltd. 248,627 372,282 
Dubai Parks and Resorts PJSC (b) 531,681 55,873 
Emaar Malls Group PJSC (b) 382,642 231,263 
Emaar Properties PJSC 727,404 1,146,610 
Emirates Telecommunications Corp. 355,939 1,661,885 
National Bank of Abu Dhabi PJSC 282,944 955,176 
TOTAL UNITED ARAB EMIRATES  6,797,565 
United Kingdom - 10.9%   
3i Group PLC 190,173 2,465,214 
Admiral Group PLC 40,049 1,098,850 
Anglo American PLC (United Kingdom) 262,860 6,185,966 
Antofagasta PLC 77,715 1,040,373 
Ashtead Group PLC 97,322 2,723,878 
Associated British Foods PLC 69,262 2,578,345 
AstraZeneca PLC (United Kingdom) 249,093 17,437,101 
Auto Trader Group PLC (d) 189,018 918,462 
Aviva PLC 785,960 5,710,528 
Babcock International Group PLC 51,554 522,230 
BAE Systems PLC 627,190 5,262,266 
Barclays PLC 3,353,896 9,562,308 
Barratt Developments PLC 203,060 1,559,904 
Berkeley Group Holdings PLC 25,321 1,419,476 
BHP Billiton PLC 415,987 8,869,853 
BP PLC 3,861,185 28,680,751 
BP PLC sponsored ADR 5,396 240,608 
British American Tobacco PLC (United Kingdom) 451,223 24,748,458 
British Land Co. PLC 190,246 1,761,094 
BT Group PLC 1,658,563 5,692,754 
Bunzl PLC 66,826 1,942,106 
Burberry Group PLC 83,055 2,085,023 
Capita Group PLC 129,326 341,042 
Carnival PLC 36,792 2,391,309 
Centrica PLC 1,100,037 2,329,179 
Cobham PLC (b) 462,063 732,177 
Coca-Cola European Partners PLC 43,604 1,709,277 
Compass Group PLC 310,706 6,672,884 
ConvaTec Group PLC (d) 260,306 778,365 
Croda International PLC 26,295 1,614,897 
Diageo PLC 489,293 17,455,377 
Direct Line Insurance Group PLC 267,347 1,377,636 
easyJet PLC 30,818 674,592 
Fresnillo PLC 43,237 758,936 
G4S PLC (United Kingdom) 305,309 1,088,206 
GKN PLC 339,879 2,158,115 
GlaxoSmithKline PLC 967,826 19,411,848 
Hammerson PLC 158,135 1,195,197 
Hargreaves Lansdown PLC 51,258 1,262,794 
HSBC Holdings PLC (United Kingdom) 3,930,089 39,127,903 
IMI PLC 52,781 793,487 
Imperial Tobacco Group PLC 188,315 6,752,251 
InterContinental Hotel Group PLC 35,353 2,233,488 
Intertek Group PLC 31,635 2,134,479 
Investec PLC 132,460 1,052,933 
ITV PLC 728,409 1,520,747 
J Sainsbury PLC 327,067 1,391,344 
John Wood Group PLC 133,428 1,044,463 
Johnson Matthey PLC 38,723 1,756,030 
Kingfisher PLC 420,282 1,752,758 
Land Securities Group PLC 146,848 1,998,205 
Legal & General Group PLC 1,170,646 4,351,397 
Lloyds Banking Group PLC 14,135,181 12,537,168 
London Stock Exchange Group PLC 61,792 3,657,969 
Marks & Spencer Group PLC 320,710 1,268,102 
Mediclinic International PLC 14,885 138,152 
Mediclinic International PLC 56,493 521,863 
Meggitt PLC 148,210 963,888 
Melrose Industries PLC 378,500 1,188,065 
Merlin Entertainments PLC (d) 140,576 711,807 
Micro Focus International PLC 84,961 1,464,994 
Mondi PLC 72,940 2,034,438 
National Grid PLC 664,623 7,711,506 
Next PLC 29,134 2,108,117 
Old Mutual PLC 976,176 3,381,256 
Pearson PLC 160,156 1,836,131 
Persimmon PLC 60,585 2,264,510 
Prudential PLC 508,072 13,064,593 
Reckitt Benckiser Group PLC 131,496 10,315,609 
RELX PLC 209,449 4,482,377 
Rio Tinto PLC 238,433 12,996,016 
Rolls-Royce Holdings PLC 326,876 3,780,086 
Royal Bank of Scotland Group PLC (b) 698,079 2,585,126 
Royal Dutch Shell PLC:   
Class A 14,363 502,615 
Class A (United Kingdom) 873,958 30,406,062 
Class A sponsored ADR 2,832 197,957 
Class B (United Kingdom) 736,679 26,298,604 
Royal Mail PLC 177,500 1,420,245 
RSA Insurance Group PLC 203,803 1,844,504 
Sage Group PLC 212,288 1,856,416 
Schroders PLC 24,475 1,112,263 
Scottish & Southern Energy PLC 200,364 3,802,629 
Segro PLC 195,060 1,735,300 
Severn Trent PLC 47,402 1,266,012 
SKY PLC 203,504 3,860,659 
Smith & Nephew PLC 173,434 3,321,442 
Smiths Group PLC 76,435 1,681,018 
St. James's Place Capital PLC 105,673 1,653,380 
Standard Chartered PLC (United Kingdom) 648,928 6,852,218 
Standard Life PLC 521,830 2,624,327 
Taylor Wimpey PLC 654,338 1,727,336 
Tesco PLC 1,915,596 6,204,498 
The Weir Group PLC 43,998 1,293,819 
Travis Perkins PLC 48,142 841,056 
Unilever PLC 242,149 13,582,637 
United Utilities Group PLC 132,013 1,350,709 
Vodafone Group PLC 5,214,133 15,215,962 
Vodafone Group PLC sponsored ADR 2,705 79,554 
Whitbread PLC 36,433 2,147,235 
WM Morrison Supermarkets PLC 434,508 1,454,193 
TOTAL UNITED KINGDOM  483,711,287 
United States of America - 0.1%   
Southern Copper Corp. 16,906 892,806 
Yum China Holdings, Inc. 75,136 3,212,815 
TOTAL UNITED STATES OF AMERICA  4,105,621 
TOTAL COMMON STOCKS   
(Cost $3,790,719,138)  4,228,359,299 
Nonconvertible Preferred Stocks - 1.3%   
Brazil - 0.7%   
Banco Bradesco SA (PN) 664,190 6,554,307 
Braskem SA (PN-A) 33,200 432,627 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 41,200 268,143 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 30,400 683,202 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 184,507 445,572 
Gerdau SA 209,200 994,285 
Itau Unibanco Holding SA 638,881 9,302,729 
Itausa-Investimentos Itau SA (PN) 793,179 3,081,516 
Lojas Americanas SA (PN) 141,336 804,879 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (b) 774,800 5,080,257 
Telefonica Brasil SA 88,600 1,242,808 
TOTAL BRAZIL  28,890,325 
Chile - 0.0%   
Embotelladora Andina SA Class B 50,951 253,351 
Sociedad Quimica y Minera de Chile SA (PN-B) 18,413 1,005,696 
TOTAL CHILE  1,259,047 
Colombia - 0.0%   
Bancolombia SA (PN) 90,830 1,076,784 
Grupo Aval Acciones y Valores SA 670,206 294,666 
Grupo de Inversiones Suramerica SA (b) 21,002 272,903 
TOTAL COLOMBIA  1,644,353 
France - 0.0%   
Air Liquide SA (b) 8,120 1,055,408 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 10,885 1,054,207 
Fuchs Petrolub AG 13,737 738,865 
Henkel AG & Co. KGaA 35,067 4,463,364 
Porsche Automobil Holding SE (Germany) 29,850 2,552,118 
Volkswagen AG 36,620 7,599,162 
TOTAL GERMANY  16,407,716 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 1,245,504 1,072,402 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 1,715 285,853 
Hyundai Motor Co. 5,335 513,113 
Hyundai Motor Co. Series 2 7,593 815,365 
LG Chemical Ltd. 1,794 345,089 
LG Household & Health Care Ltd. 378 271,784 
Samsung Electronics Co. Ltd. 3,418 6,747,132 
TOTAL KOREA (SOUTH)  8,978,336 
Russia - 0.0%   
AK Transneft OAO 90 246,465 
Surgutneftegas OJSC 1,409,133 693,461 
TOTAL RUSSIA  939,926 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (b) 23,208,196 31,951 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $49,471,543)  60,279,464 
 Principal Amount(f) Value 
Nonconvertible Bonds - 0.0%   
India - 0.0%   
NTPC Ltd. 8.49% 3/25/25
(Cost $13,959) 
INR69,696 14,432 
 Shares Value 
Money Market Funds - 4.3%   
Fidelity Cash Central Fund, 1.74% (g) 130,602,579 130,628,700 
Fidelity Securities Lending Cash Central Fund 1.74% (g)(h) 60,509,250 60,515,301 
TOTAL MONEY MARKET FUNDS   
(Cost $191,144,001)  191,144,001 
TOTAL INVESTMENT IN SECURITIES - 100.7%   
(Cost $4,031,348,641)  4,479,797,196 
NET OTHER ASSETS (LIABILITIES) - (0.7)%(i)  (31,543,352) 
NET ASSETS - 100%  $4,448,253,844 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 1,085 June 2018 $109,937,625 $997,823 $997,823 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 692 June 2018 39,866,120 (715,479) (715,479) 
TME S&P/TSX 60 Index Contracts (Canada) 69 June 2018 9,887,161 164,453 164,453 
TOTAL FUTURES CONTRACTS     $446,797 

The notional amount of futures purchased as a percentage of Net Assets is 3.6%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $87,810,540.

Currency Abbreviations

INR – Indian rupee

Security Type Abbreviations

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

Legend

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

 (b) Non-income producing

 (c) Level 3 security

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $24,704,883 or 0.6% of net assets.

 (e) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

 (f) Amount is stated in United States dollars unless otherwise noted.

 (g) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (h) Investment made with cash collateral received from securities on loan.

 (i) Includes $7,279,843 of cash collateral to cover margin requirements for futures contracts.


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 $621,320 
Fidelity Securities Lending Cash Central Fund 210,938 
Total $832,258 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $489,897,770 $297,604,395 $192,293,375 $-- 
Consumer Staples 400,399,888 192,004,588 208,382,965 12,335 
Energy 305,319,981 117,454,648 187,865,333 -- 
Financials 990,849,595 446,377,451 544,472,143 
Health Care 325,516,875 95,587,540 229,929,335 -- 
Industrials 503,258,501 346,568,515 156,195,018 494,968 
Information Technology 494,840,604 273,808,896 220,721,044 310,664 
Materials 346,429,281 201,385,127 145,044,154 -- 
Real Estate 137,222,136 57,248,822 79,973,314 -- 
Telecommunication Services 169,943,681 36,210,359 133,733,322 -- 
Utilities 124,960,451 73,991,246 50,969,205 -- 
Corporate Bonds 14,432 -- 14,432 -- 
Money Market Funds 191,144,001 191,144,001 -- -- 
Total Investments in Securities: $4,479,797,196 $2,329,385,588 $2,149,593,640 $817,968 
Derivative Instruments:     
Assets     
Futures Contracts $1,162,276 $1,162,276 $-- $-- 
Total Assets $1,162,276 $1,162,276 $-- $-- 
Liabilities     
Futures Contracts $(715,479) $(715,479) $-- $-- 
Total Liabilities $(715,479) $(715,479) $-- $-- 
Total Derivative Instruments: $446,797 $446,797 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $618,342,862 
Level 2 to Level 1 $439,411,959 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $1,162,276 $(715,479) 
Total Equity Risk 1,162,276 (715,479) 
Total Value of Derivatives $1,162,276 $(715,479) 

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


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


Fidelity® Global ex U.S. Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $59,106,952) — See accompanying schedule:
Unaffiliated issuers (cost $3,840,204,640) 
$4,288,653,195  
Fidelity Central Funds (cost $191,144,001) 191,144,001  
Total Investment in Securities (cost $4,031,348,641)  $4,479,797,196 
Segregated cash with brokers for derivative instruments  7,279,843 
Foreign currency held at value (cost $9,069,785)  8,999,647 
Receivable for investments sold   
Regular delivery  1,019,627 
Delayed delivery  1,337,964 
Receivable for fund shares sold  4,391,978 
Dividends receivable  17,704,418 
Interest receivable  60 
Distributions receivable from Fidelity Central Funds  207,871 
Other receivables  360,322 
Total assets  4,521,098,926 
Liabilities   
Payable to custodian bank $361,684  
Payable for investments purchased   
Regular delivery 717,344  
Delayed delivery 116,364  
Payable for fund shares redeemed 8,886,961  
Accrued management fee 224,180  
Payable for daily variation margin on futures contracts 842,150  
Other affiliated payables 75,838  
Other payables and accrued expenses 1,105,038  
Collateral on securities loaned 60,515,523  
Total liabilities  72,845,082 
Net Assets  $4,448,253,844 
Net Assets consist of:   
Paid in capital  $3,930,107,724 
Undistributed net investment income  40,896,691 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  29,752,978 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  447,496,451 
Net Assets  $4,448,253,844 
Investor Class:   
Net Asset Value, offering price and redemption price per share ($37,616,268 ÷ 2,771,615 shares)  $13.57 
Premium Class:   
Net Asset Value, offering price and redemption price per share ($1,745,019,751 ÷ 128,561,149 shares)  $13.57 
Institutional Class:   
Net Asset Value, offering price and redemption price per share ($735,343,795 ÷ 54,158,548 shares)  $13.58 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($1,930,274,030 ÷ 142,110,544 shares)  $13.58 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $56,314,033 
Interest  36,191 
Income from Fidelity Central Funds  832,258 
Income before foreign taxes withheld  57,182,482 
Less foreign taxes withheld  (5,423,573) 
Total income  51,758,909 
Expenses   
Management fee $1,146,783  
Transfer agent fees 441,960  
Independent trustees' fees and expenses 6,996  
Legal 453  
Miscellaneous 5,068  
Total expenses before reductions 1,601,260  
Expense reductions (1,164) 1,600,096 
Net investment income (loss)  50,158,813 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $2,020) (3,249,433)  
Redemptions in-kind with affiliated entities 62,615,780  
Fidelity Central Funds 1,393  
Foreign currency transactions 191,924  
Futures contracts 2,333,284  
Total net realized gain (loss)  61,892,948 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of decrease in deferred foreign taxes of $56,544) (33,746,089)  
Fidelity Central Funds (751)  
Assets and liabilities in foreign currencies (269,909)  
Futures contracts (861,101)  
Total change in net unrealized appreciation (depreciation)  (34,877,850) 
Net gain (loss)  27,015,098 
Net increase (decrease) in net assets resulting from operations  $77,173,911 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $50,158,813 $69,087,197 
Net realized gain (loss) 61,892,948 (12,914,287) 
Change in net unrealized appreciation (depreciation) (34,877,850) 500,936,477 
Net increase (decrease) in net assets resulting from operations 77,173,911 557,109,387 
Distributions to shareholders from net investment income (65,410,878) (36,723,329) 
Distributions to shareholders from net realized gain (7,025,971) (830,683) 
Total distributions (72,436,849) (37,554,012) 
Share transactions - net increase (decrease) 1,255,444,516 933,598,280 
Redemption fees – 37,194 
Total increase (decrease) in net assets 1,260,181,578 1,453,190,849 
Net Assets   
Beginning of period 3,188,072,266 1,734,881,417 
End of period $4,448,253,844 $3,188,072,266 
Other Information   
Undistributed net investment income end of period $40,896,691 $56,148,756 

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


Financial Highlights

Fidelity Global ex U.S. Index Fund Investor Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.48 $11.12 $11.32 $12.28 $12.44 $10.54 
Income from Investment Operations       
Net investment income (loss)A .17 .32 .31 .31 .37B .29 
Net realized and unrealized gain (loss) .22 2.26 (.26)C (.98) (.32) 1.76 
Total from investment operations .39 2.58 .05 (.67) .05 2.05 
Distributions from net investment income (.27) (.21) (.25) (.28) (.18) (.15) 
Distributions from net realized gain (.03) (.01) – (.01) (.03) (.01) 
Total distributions (.30) (.22) (.25) (.29) (.21) (.16) 
Redemption fees added to paid in capitalA – D D D D .01 
Net asset value, end of period $13.57 $13.48 $11.12 $11.32 $12.28 $12.44 
Total ReturnE,F 2.94% 23.61% .56% (5.49)% .46% 19.79% 
Ratios to Average Net AssetsG,H       
Expenses before reductions .17%I .18% .27% .34% .34% .34% 
Expenses net of fee waivers, if any .17%I .18% .19% .22% .22% .23% 
Expenses net of all reductions .17%I .18% .19% .22% .22% .23% 
Net investment income (loss) 2.54%I 2.64% 2.87% 2.66% 3.00%B 2.59% 
Supplemental Data       
Net assets, end of period (000 omitted) $37,616 $45,439 $37,465 $18,132 $15,309 $10,037 
Portfolio turnover rateJ 3%I,K 9% 1%K 1% 1% 6% 

 A Calculated based on average shares outstanding during the period.

 B Net 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%.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 D Amount represents less than $.005 per share.

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

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

 G 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.

 H 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.

 I Annualized

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

 K Portfolio turnover rate excludes securities received or delivered in-kind.


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


Fidelity Global ex U.S. Index Fund Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.49 $11.12 $11.32 $12.29 $12.44 $10.54 
Income from Investment Operations       
Net investment income (loss)A .18 .33 .32 .32 .38B .30 
Net realized and unrealized gain (loss) .21 2.26 (.27)C (1.00) (.31) 1.76 
Total from investment operations .39 2.59 .05 (.68) .07 2.06 
Distributions from net investment income (.28) (.22) (.25) (.28) (.19) (.16) 
Distributions from net realized gain (.03) (.01) – (.01) (.03) (.01) 
Total distributions (.31) (.22)D (.25) (.29) (.22) (.17) 
Redemption fees added to paid in capitalA – E E E E .01 
Net asset value, end of period $13.57 $13.49 $11.12 $11.32 $12.29 $12.44 
Total ReturnF,G 2.94% 23.79% .64% (5.53)% .59% 19.88% 
Ratios to Average Net AssetsH,I       
Expenses before reductions .10%J .11% .21% .28% .28% .28% 
Expenses net of fee waivers, if any .10%J .11% .12% .17% .18% .18% 
Expenses net of all reductions .10%J .11% .12% .17% .18% .18% 
Net investment income (loss) 2.61%J 2.71% 2.95% 2.71% 3.04%B 2.64% 
Supplemental Data       
Net assets, end of period (000 omitted) $1,745,020 $1,565,118 $774,360 $563,796 $485,998 $281,895 
Portfolio turnover rateK 3%J,L 9% 1%L 1% 1% 6% 

 A Calculated based on average shares outstanding during the period.

 B Net 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 2.67%.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 D Total distributions of $.22 per share is comprised of distributions from net investment income of $.219 and distributions from net realized gain of $.005 per share.

 E Amount represents less than $.005 per share.

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

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

 H 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.

 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.

 J Annualized

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

 L Portfolio turnover rate excludes securities received or delivered in-kind.


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


Fidelity Global ex U.S. Index Fund Institutional Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.49 $11.13 $11.33 $12.29 $12.45 $10.55 
Income from Investment Operations       
Net investment income (loss)A .18 .33 .32 .33 .39B .31 
Net realized and unrealized gain (loss) .22 2.26 (.26)C (.99) (.33) 1.76 
Total from investment operations .40 2.59 .06 (.66) .06 2.07 
Distributions from net investment income (.28) (.22) (.26) (.29) (.20) (.17) 
Distributions from net realized gain (.03) (.01) – (.01) (.03) (.01) 
Total distributions (.31) (.23) (.26) (.30) (.22)D (.18) 
Redemption fees added to paid in capitalA – E E E E .01 
Net asset value, end of period $13.58 $13.49 $11.13 $11.33 $12.29 $12.45 
Total ReturnF,G 3.03% 23.70% .66% (5.40)% .56% 19.94% 
Ratios to Average Net AssetsH,I       
Expenses before reductions .08%J .09% .17% .23% .23% .23% 
Expenses net of fee waivers, if any .08%J .09% .10% .13% .13% .13% 
Expenses net of all reductions .08%J .09% .10% .13% .13% .13% 
Net investment income (loss) 2.63%J 2.73% 2.97% 2.75% 3.09%B 2.69% 
Supplemental Data       
Net assets, end of period (000 omitted) $735,344 $624,633 $278,172 $182,432 $153,983 $66,248 
Portfolio turnover rateK 3%J,L 9% 1%L 1% 1% 6% 

 A Calculated based on average shares outstanding during the period.

 B Net 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 2.72%.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 D 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.

 E Amount represents less than $.005 per share.

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

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

 H 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.

 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.

 J Annualized

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

 L Portfolio turnover rate excludes securities received or delivered in-kind.


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


Fidelity Global ex U.S. Index Fund Institutional Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.50 $11.13 $11.33 $12.30 $12.45 $10.56 
Income from Investment Operations       
Net investment income (loss)A .18 .33 .32 .33 .39B .32 
Net realized and unrealized gain (loss) .21 2.27 (.26)C (1.00) (.31) 1.74 
Total from investment operations .39 2.60 .06 (.67) .08 2.06 
Distributions from net investment income (.28) (.22) (.26) (.29) (.20) (.17) 
Distributions from net realized gain (.03) (.01) – (.01) (.03) (.01) 
Total distributions (.31) (.23) (.26) (.30) (.23) (.18) 
Redemption fees added to paid in capitalA – D D D D .01 
Net asset value, end of period $13.58 $13.50 $11.13 $11.33 $12.30 $12.45 
Total ReturnE,F 2.98% 23.83% .68% (5.45)% .67% 19.87% 
Ratios to Average Net AssetsG,H       
Expenses before reductions .06%I .06% .14% .20% .20% .19% 
Expenses net of fee waivers, if any .06%I .06% .08% .10% .10% .10% 
Expenses net of all reductions .06%I .06% .08% .10% .10% .10% 
Net investment income (loss) 2.65%I 2.75% 2.99% 2.78% 3.12%B 2.72% 
Supplemental Data       
Net assets, end of period (000 omitted) $1,930,274 $952,883 $644,884 $87,972 $74,259 $62,884 
Portfolio turnover rateJ 3%I,K 9% 1%K 1% 1% 6% 

 A Calculated based on average shares outstanding during the period.

 B Net 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 2.75%.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 D Amount represents less than $.005 per share.

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

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

 G 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.

 H 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.

 I Annualized

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

 K Portfolio turnover rate excludes securities received or delivered in-kind.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity Emerging Markets Index Fund and Fidelity Global ex U.S. Index Fund (the Funds) are funds of Fidelity Salem Street Trust (the Trust) 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, Premium Class, Institutional Class and Institutional Premium 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 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. 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 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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The 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. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of each Fund's investments to the Fair Value Committee (the Committee) established by each Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing each Fund's investments and ratifies the fair value determinations of the Committee.

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 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. Corporate bonds 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 April 30, 2018, including information on transfers between Levels 1 and 2, is included at the end of each applicable 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.

Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and for certain Funds include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

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.

Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. Fidelity Emerging Markets Index Fund and Fidelity 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 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.

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), market discount, partnerships, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:

 Tax cost Gross unrealized appreciation Gross unrealized depreciation Net unrealized appreciation (depreciation) 
Fidelity Emerging Markets Index Fund $1,395,578,660 $391,132,545 $(89,486,105) $301,646,440 
Fidelity Global ex U.S. Index Fund 4,052,052,430 641,408,688 (213,217,125) 428,191,563 

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 prior fiscal period end and is subject to adjustment.

 No expiration    
 Short-term Long-term Total no expiration Total capital loss carryforward 
Fidelity Emerging Markets Index Fund $(17,151,687) $(39,182,558) $(56,334,245) $(56,334,245) 

Short-Term Trading (Redemption) Fees. Shares held by investors in Fidelity Emerging Markets Index less than 90 days may be subject to a redemption fee equal to 1.50% of the NAV of shares redeemed from Fidelity Emerging Markets Index. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by Fidelity Emerging Markets Index and accounted for as an addition to paid in capital. In November 2017, the Board of Trustees approved the elimination of these redemption fees effective December 18, 2017.

Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in each applicable Fund's Schedule of Investments. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. 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.

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.

A summary of the value of derivatives by primary risk exposure as of period end 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

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

 Purchases ($) Sales ($) 
Fidelity Emerging Markets Index Fund 224,646,129 18,345,825 
Fidelity Global ex U.S. Index Fund 1,351,520,177 56,575,700 

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 .08% and .06% of average net assets for Fidelity Emerging Markets Index Fund and Fidelity 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:

Fidelity Emerging Markets Index Fund  
Investor Class .29% 
Premium Class .13% 
Institutional Class .10% 
Institutional Premium Class .08% 
Fidelity Global ex U.S. Index Fund  
Investor Class .17% 
Premium Class .10% 
Institutional Class .08% 
Institutional Premium Class .06% 

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 annual rates based on class-level average net assets as noted in the table below. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Under the expense contract, each class pays all or a portion of the transfer agent fees at annual rates based on class-level average net assets as noted in the table below and each Fund's Institutional Premium Class does not pay transfer agent fees.

 Received by FIIOC Paid by Class 
Fidelity Emerging Markets Index Fund   
Investor Class .21% .21% 
Premium Class .11% .05% 
Institutional Class .035% .02% 
Institutional Premium Class .015% – 
Fidelity Global ex U.S. Index Fund   
Investor Class .21% .11% 
Premium Class .11% .04% 
Institutional Class .035% .02% 
Institutional Premium Class .015% – 

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

 Amount % of Class-Level Average Net Assets 
Fidelity Emerging Markets Index Fund   
Investor Class $40,730 .21 
Premium Class 257,572 .05 
Institutional Class 28,768 .02 
Institutional Premium Class – – 
 $327,070  
Fidelity Global ex U.S. Index Fund   
Investor Class $24,555 .11 
Premium Class 349,501 .04 
Institutional Class 67,904 .02 
Institutional Premium Class – – 
 $441,960  

Interfund Trades. The Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

Redemptions In-Kind. During the period, 13,347,660 shares of the Fidelity Global ex U.S. Index Fund held by an affiliated entity were redeemed in-kind for investments and cash with a value of $181,394,705. The net realized gain of $62,615,780 on investments delivered through in-kind redemptions is included in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets as well as the Notes to Financial Statements. The Fidelity Global ex U.S. Index Fund recognized no gain or loss for federal income tax purposes.

Exchanges In-Kind. During the period, an affiliated entity completed an exchange in-kind with the Fidelity Global ex U.S. Index Fund. The affiliated entity delivered investments and cash valued at $621,987,634 in exchange for 45,104,252 shares of the Fund. The amount of in-kind exchanges is included in share transactions in the accompanying Statement of Changes in Net Assets as well as the Notes to Financial Statements. The Fidelity Global ex U.S. Index Fund recognized no gain or loss for federal income tax purposes.

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:

Fidelity Emerging Markets Index Fund $2,155 
Fidelity Global ex U.S. Index Fund 5,068 

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. The Funds or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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. Security lending activity was as follows:

 Total Security Lending Income 
Fidelity Emerging Markets Index Fund $86,477 
Fidelity Global ex U.S. Index Fund 210,938 

9. Expense Reductions.

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

 Custody expense reduction 
Fidelity Emerging Markets Index Fund $3,980 
Fidelity Global ex U.S. Index Fund 1,164 

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2018 
Year ended
October 31, 2017 
Fidelity Emerging Markets Index Fund   
From net investment income   
Investor Class $542,014 $290,141 
Premium Class 16,283,663 9,152,994 
Institutional Class 4,613,874 3,191,048 
Institutional Premium Class 3,519,724 4,296 
Total $24,959,275 $12,638,479 
From net realized gain   
Investor Class $42,630 $– 
Premium Class 1,165,199 – 
Institutional Class 324,626 – 
Institutional Premium Class 244,923 – 
Total $1,777,378 $– 
Fidelity Global ex U.S. Index Fund   
From net investment income   
Investor Class $929,725 $710,799 
Premium Class 33,207,121 15,744,134 
Institutional Class 12,513,286 6,109,298 
Institutional Premium Class 18,760,746 14,159,098 
Total $65,410,878 $36,723,329 
From net realized gain   
Investor Class $104,074 $16,844 
Premium Class 3,591,253 359,898 
Institutional Class 1,340,326 138,257 
Institutional Premium Class 1,990,318 315,684 
Total $7,025,971 $830,683 

11. Share Transactions.

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

 Shares Shares Dollars Dollars 
 Six months ended April 30, 2018 Year ended October 31, 2017 Six months ended April 30, 2018 Year ended October 31, 2017 
Fidelity Emerging Markets Index Fund     
Investor Class     
Shares sold 2,474,593 4,595,198 $29,024,418 $44,721,174 
Reinvestment of distributions 50,953 31,357 556,918 270,613 
Shares redeemed (1,932,707) (3,918,080) (22,688,935) (38,590,456) 
Net increase (decrease) 592,839 708,475 $6,892,401 $6,401,331 
Premium Class     
Shares sold 24,852,495 48,728,825 $291,330,520 $475,643,280 
Reinvestment of distributions 1,420,087 970,483 15,521,554 8,365,562 
Shares redeemed (13,338,424) (32,884,562) (154,595,869) (302,310,868) 
Net increase (decrease) 12,934,158 16,814,746 $152,256,205 $181,697,974 
Institutional Class     
Shares sold 11,994,692 13,363,342 $139,855,350 $130,227,940 
Reinvestment of distributions 419,348 348,827 4,587,665 3,010,374 
Shares redeemed (7,725,415) (11,206,364) (93,745,774) (104,613,436) 
Net increase (decrease) 4,688,625 2,505,805 $50,697,241 $28,624,878 
Institutional Premium Class     
Shares sold 2,963,154 18,939,252 $34,517,246 $164,987,276 
Reinvestment of distributions 344,433 498 3,764,647 4,296 
Shares redeemed (1,265,456) (1,806,984) (14,831,362) (18,355,507) 
Net increase (decrease) 2,042,131 17,132,766 $23,450,531 $146,636,065 
Fidelity Global ex U.S. Index Fund     
Investor Class     
Shares sold 1,254,469(a) 3,656,372 $17,137,298(a) $44,410,333 
Reinvestment of distributions 77,311 65,700 1,020,503 720,731 
Shares redeemed (1,930,988) (3,720,974) (26,337,407) (44,830,378) 
Net increase (decrease) (599,208) 1,098 $(8,179,606) $300,686 
Premium Class     
Shares sold 38,940,745(a) 71,331,726 $532,534,913(a) $868,267,163 
Reinvestment of distributions 2,335,974 1,271,346 30,834,860 13,946,668 
Shares redeemed (28,771,493)(b) (26,167,162) (391,322,895)(b) (320,300,835) 
Net increase (decrease) 12,505,226 46,435,910 $172,046,878 $561,912,996 
Institutional Class     
Shares sold 20,879,326(a) 46,688,077 $286,035,989(a) $549,906,665 
Reinvestment of distributions 1,037,349 569,513 13,693,009 6,247,555 
Shares redeemed (14,057,403) (25,958,123) (192,668,992) (326,220,950) 
Net increase (decrease) 7,859,272 21,299,467 $107,060,006 $229,933,270 
Institutional Premium Class     
Shares sold 85,343,585(a) 25,870,791 $1,173,615,636(a) $309,331,694 
Reinvestment of distributions 1,572,050 1,318,286 20,751,064 14,474,782 
Shares redeemed (15,396,777) (14,520,231) (209,849,462) (182,355,148) 
Net increase (decrease) 71,518,858 12,668,846 $984,517,238 $141,451,328 

 (a) Amount includes in-kind exchanges (see the Exchanges In-Kind note for additional details).

 (b) Amount includes in-kind redemptions (see the Redemptions In-Kind note for additional details).


12. 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.

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 (November 1, 2017 to April 30, 2018).

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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Fidelity Emerging Markets Index Fund     
Investor Class .29%    
Actual  $1,000.00 $1,041.20 $1.47 
Hypothetical-C  $1,000.00 $1,023.36 $1.45 
Premium Class .13%    
Actual  $1,000.00 $1,041.90 $.66 
Hypothetical-C  $1,000.00 $1,024.15 $.65 
Institutional Class .10%    
Actual  $1,000.00 $1,041.30 $.51 
Hypothetical-C  $1,000.00 $1,024.30 $.50 
Institutional Premium Class .08%    
Actual  $1,000.00 $1,041.50 $.40 
Hypothetical-C  $1,000.00 $1,024.40 $.40 
Fidelity Global ex U.S. Index Fund     
Investor Class .17%    
Actual  $1,000.00 $1,029.40 $.86 
Hypothetical-C  $1,000.00 $1,023.95 $.85 
Premium Class .10%    
Actual  $1,000.00 $1,029.40 $.50 
Hypothetical-C  $1,000.00 $1,024.30 $.50 
Institutional Class .08%    
Actual  $1,000.00 $1,030.30 $.40 
Hypothetical-C  $1,000.00 $1,024.40 $.40 
Institutional Premium Class .06%    
Actual  $1,000.00 $1,029.80 $.30 
Hypothetical-C  $1,000.00 $1,024.50 $.30 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/ 365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

EMX-I-GUX-I-SANN-0618
1.929371.106


Fidelity® Emerging Markets Index Fund
Investor Class and Premium Class

Fidelity® Global ex U.S. Index Fund
Investor Class and Premium Class



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Fidelity® Emerging Markets Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity® Global ex U.S. Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Funds nor Fidelity Distributors Corporation is a bank.



Fidelity® Emerging Markets Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 5.0 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 4.3 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 3.7 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 3.4 
Naspers Ltd. Class N (South Africa, Media) 1.9 
China Construction Bank Corp. (H Shares) (China, Banks) 1.6 
Baidu.com, Inc. sponsored ADR (Cayman Islands, Internet Software & Services) 1.2 
Industrial & Commercial Bank of China Ltd. (H Shares) (China, Banks) 1.2 
China Mobile Ltd. (Hong Kong, Wireless Telecommunication Services) 1.0 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) (China, Insurance) 0.9 
 24.2 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Information Technology 26.4 
Financials 23.3 
Consumer Discretionary 9.3 
Materials 7.3 
Energy 7.3 
Consumer Staples 6.6 
Industrials 5.1 
Telecommunication Services 4.7 
Real Estate 2.8 
Health Care 2.7 

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Cayman Islands 15.5% 
   Korea (South) 15.2% 
   Taiwan 10.8% 
   China 9.7% 
   India 8.3% 
   Brazil 7.0% 
   South Africa 6.4% 
   Hong Kong 3.3% 
   Russia 3.3% 
   Other* 20.5% 


 * 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.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.1 
Short-Term Investments and Net Other Assets (Liabilities) (0.1) 

Fidelity® Emerging Markets Index Fund

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.7%   
 Shares Value 
Bermuda - 0.9%   
Alibaba Health Information Technology Ltd. (a)(b) 908,000 $456,610 
Alibaba Pictures Group Ltd. (a) 3,650,000 411,160 
Beijing Enterprises Water Group Ltd. 1,662,000 964,929 
Brilliance China Automotive Holdings Ltd. 908,000 1,616,709 
China Gas Holdings Ltd. 506,800 1,795,937 
China Resource Gas Group Ltd. 266,000 978,243 
Cosco Shipping Ports Ltd. 501,823 441,341 
Credicorp Ltd. 6,502 1,501,962 
Credicorp Ltd. (United States) 13,639 3,170,931 
GOME Electrical Appliances Holdings Ltd. (b) 3,190,802 343,224 
Haier Electronics Group Co. Ltd. 374,000 1,293,956 
Hanergy Thin Film Power Group Ltd. (a)(c) 1,618,000 
Kunlun Energy Co. Ltd. 962,000 823,680 
Nine Dragons Paper (Holdings) Ltd. 490,000 730,815 
Sihuan Pharmaceutical Holdings Group Ltd. 1,105,000 267,065 
TOTAL BERMUDA  14,796,564 
Brazil - 4.4%   
Ambev SA 1,396,100 9,297,503 
Atacadao Distribuicao Comercio e Industria Ltda 115,700 498,707 
Banco Bradesco SA 312,515 2,845,749 
Banco do Brasil SA 256,700 2,689,224 
Banco Santander SA (Brasil) unit 122,200 1,329,368 
BB Seguridade Participacoes SA 210,700 1,652,785 
BM&F BOVESPA SA 611,714 4,417,779 
BR Malls Participacoes SA 249,795 778,648 
Brasil Foods SA (a) 127,500 902,603 
CCR SA 365,700 1,248,508 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 60,000 326,616 
Cielo SA 365,314 2,002,178 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 101,300 1,016,701 
Companhia Energetica de Minas Gerais (CEMIG) 2,013 4,425 
Companhia Siderurgica Nacional SA (CSN) (a) 178,100 446,368 
Cosan SA Industria e Comercio 49,400 560,953 
Drogasil SA 68,100 1,337,040 
EDP Energias do Brasil SA 96,557 382,843 
Embraer SA 199,900 1,263,355 
ENGIE Brasil Energia SA 45,800 483,598 
Equatorial Energia SA 59,200 1,202,352 
Fibria Celulose SA 73,200 1,437,797 
Hypermarcas SA 103,100 927,052 
Itausa-Investimentos Itau SA (a) 26,860 103,508 
Itausa-Investimentos Itau SA (a) 12 49 
Itausa-Investimentos Itau SA 527 2,099 
JBS SA 243,500 608,194 
Klabin SA unit 173,700 1,052,652 
Kroton Educacional SA 405,448 1,621,468 
Localiza Rent A Car SA 150,552 1,198,589 
Lojas Renner SA 209,990 1,954,720 
M. Dias Branco SA 27,900 350,422 
Multiplan Empreendimentos Imobiliarios SA 24,086 457,353 
Natura Cosmeticos SA 47,400 435,817 
Odontoprev SA 82,500 353,955 
Petroleo Brasileiro SA - Petrobras (ON) (a) 891,200 6,265,773 
Porto Seguro SA 34,600 446,426 
Qualicorp SA 65,800 457,362 
Rumo SA (a) 328,400 1,392,082 
Sul America SA unit 55,574 342,975 
Suzano Papel e Celulose SA 129,800 1,521,348 
Terna Participacoes SA unit 61,900 376,185 
TIM Participacoes SA 252,400 1,149,172 
Ultrapar Participacoes SA 105,900 1,827,374 
Vale SA 937,684 13,027,255 
Weg SA 210,132 1,066,495 
TOTAL BRAZIL  73,063,425 
British Virgin Islands - 0.0%   
Tianhe Chemicals Group Ltd. (a)(c) 376,000 28,025 
Cayman Islands - 15.5%   
3SBio, Inc. (d) 302,500 649,972 
58.com, Inc. ADR (a) 27,421 2,396,321 
AAC Technology Holdings, Inc. 217,500 3,121,727 
Agile Property Holdings Ltd. 464,000 915,284 
Airtac International Group 35,000 606,225 
Alibaba Group Holding Ltd. sponsored ADR (a)(b) 341,023 60,886,246 
Anta Sports Products Ltd. 317,000 1,808,863 
Autohome, Inc. ADR Class A 15,469 1,509,001 
Baidu.com, Inc. sponsored ADR (a) 81,528 20,455,375 
Chailease Holding Co. Ltd. 353,000 1,285,719 
China Conch Venture Holdings Ltd. 479,000 1,487,083 
China Huishan Dairy Holdings Co. Ltd. (a)(b)(c) 888,000 23,760 
China Medical System Holdings Ltd. 406,000 994,203 
China Mengniu Dairy Co. Ltd. 818,000 2,637,061 
China Resources Land Ltd. 824,744 3,097,514 
China State Construction International Holdings Ltd. 613,000 797,239 
CIFI Holdings Group Co. Ltd. 1,008,000 793,747 
Country Garden Holdings Co. Ltd. 1,581,737 3,225,266 
Ctrip.com International Ltd. ADR (a) 117,227 4,794,584 
ENN Energy Holdings Ltd. 223,000 2,085,392 
Evergrande Real Estate Group Ltd. (a)(b) 976,000 3,091,554 
Fullshare Holdings Ltd. (b) 2,032,500 1,108,312 
GCL-Poly Energy Holdings Ltd. (a)(b) 3,995,000 494,161 
Geely Automobile Holdings Ltd. 1,468,000 3,860,887 
General Interface Solution Holding Ltd. 47,000 280,846 
Haitian International Holdings Ltd. 190,000 505,647 
Hengan International Group Co. Ltd. 211,000 1,876,495 
JD.com, Inc. sponsored ADR (a) 195,029 7,120,509 
Kingboard Chemical Holdings Ltd. 190,000 772,976 
Kingsoft Corp. Ltd. 226,000 671,079 
Lee & Man Paper Manufacturing Ltd. 441,000 485,752 
Longfor Properties Co. Ltd. 431,500 1,290,502 
Meitu, Inc. (a)(d) 361,500 381,227 
Momo, Inc. ADR (a)(b) 31,741 1,107,761 
NetEase, Inc. ADR 23,499 6,040,888 
New Oriental Education & Technology Group, Inc. sponsored ADR 40,122 3,604,560 
Nexteer Auto Group Ltd. 241,000 370,796 
Semiconductor Manufacturing International Corp. (a)(b) 866,700 1,114,657 
Shenzhou International Group Holdings Ltd. 220,000 2,401,572 
Shimao Property Holdings Ltd. 347,500 919,160 
SINA Corp. (a) 16,737 1,599,053 
Sino Biopharmaceutical Ltd. 1,321,000 2,781,775 
SOHO China Ltd. 555,000 284,985 
Sunac China Holdings Ltd. (b) 717,000 3,045,621 
Sunny Optical Technology Group Co. Ltd. 211,300 3,447,917 
TAL Education Group ADR 95,076 3,462,668 
Tencent Holdings Ltd. 1,686,300 82,903,446 
Tingyi (Cayman Islands) Holding Corp. 588,000 1,106,967 
Vipshop Holdings Ltd. ADR (a) 120,972 1,872,647 
Want Want China Holdings Ltd. 1,473,000 1,301,647 
Weibo Corp. sponsored ADR (a)(b) 13,650 1,563,198 
YY, Inc. ADR (a) 12,757 1,229,647 
Zhen Ding Technology Holding Ltd. 133,000 288,891 
TOTAL CAYMAN ISLANDS  255,958,385 
Chile - 1.1%   
AES Gener SA 776,056 217,624 
Aguas Andinas SA 810,969 539,434 
Banco de Chile 7,318,563 1,209,062 
Banco de Credito e Inversiones 13,128 993,632 
Banco Santander Chile 19,491,582 1,627,053 
Cencosud SA 429,058 1,275,856 
Colbun SA 2,363,697 587,687 
Compania Cervecerias Unidas SA 42,794 592,806 
Compania de Petroleos de Chile SA (COPEC) 114,179 1,861,533 
CorpBanca SA 44,384,372 453,714 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 43,726 516,063 
Empresas CMPC SA 366,530 1,504,700 
Enel Chile SA 8,509,877 1,054,578 
Enel Chile SA sponsored ADR 350 2,177 
Enersis SA 8,411,403 1,919,911 
LATAM Airlines Group SA 93,076 1,427,795 
LATAM Airlines Group SA sponsored ADR 212 3,237 
S.A.C.I. Falabella 211,364 2,050,027 
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR 168 9,222 
TOTAL CHILE  17,846,111 
China - 9.7%   
Agricultural Bank of China Ltd. (H Shares) 7,752,000 4,370,674 
Air China Ltd. (H Shares) 530,000 698,698 
Aluminum Corp. of China Ltd. (H Shares) (a) 1,176,000 664,190 
Anhui Conch Cement Co. Ltd. (H Shares) 360,000 2,246,933 
AviChina Industry & Technology Co. Ltd. (H Shares) 587,000 370,105 
Bank Communications Co. Ltd. (H Shares) 2,641,000 2,161,091 
Bank of China Ltd. (H Shares) 23,545,000 12,780,962 
Beijing Capital International Airport Co. Ltd. (H Shares) 518,000 705,502 
BYD Co. Ltd. (H Shares) (b) 185,500 1,296,844 
CGN Power Co. Ltd. (H Shares) (d) 3,112,000 848,655 
China Cinda Asset Management Co. Ltd. (H Shares) 2,660,000 949,373 
China CITIC Bank Corp. Ltd. (H Shares) 2,596,000 1,855,746 
China Communications Construction Co. Ltd. (H Shares) 1,289,000 1,485,159 
China Communications Services Corp. Ltd. (H Shares) 690,000 433,196 
China Construction Bank Corp. (H Shares) 24,917,000 26,104,521 
China Everbright Bank Co. Ltd. (H Shares) 720,000 359,812 
China Galaxy Securities Co. Ltd. (H Shares) 951,500 624,979 
China Huarong Asset Management Co. Ltd. 3,014,000 1,038,047 
China Life Insurance Co. Ltd. (H Shares) 2,207,000 6,258,964 
China Longyuan Power Grid Corp. Ltd. (H Shares) 940,000 923,287 
China Merchants Bank Co. Ltd. (H Shares) 1,156,846 5,044,311 
China Minsheng Banking Corp. Ltd. (H Shares) 1,626,200 1,521,799 
China Molybdenum Co. Ltd. (H Shares) 1,098,000 825,112 
China National Building Materials Co. Ltd. (H Shares) 1,138,000 1,329,519 
China Oilfield Services Ltd. (H Shares) 510,000 508,825 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 782,800 3,454,245 
China Petroleum & Chemical Corp. (H Shares) 7,573,000 7,375,037 
China Railway Construction Corp. Ltd. (H Shares) 562,500 666,129 
China Railway Group Ltd. (H Shares) 1,178,000 944,199 
China Shenhua Energy Co. Ltd. (H Shares) 1,012,000 2,482,293 
China Southern Airlines Ltd. (H Shares) 548,000 590,065 
China Telecom Corp. Ltd. (H Shares) 4,082,000 1,978,676 
China Vanke Co. Ltd. (H Shares) 344,000 1,421,700 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 716,000 547,721 
CITIC Securities Co. Ltd. (H Shares) 685,500 1,671,065 
CRRC Corp. Ltd. (H Shares) 1,182,600 1,045,276 
Dongfeng Motor Group Co. Ltd. (H Shares) 816,000 902,361 
Fuyao Glass Industries Group Co. Ltd. 154,400 530,684 
GF Securities Co. Ltd. (H Shares) 407,000 716,562 
Great Wall Motor Co. Ltd. (H Shares) 885,500 918,442 
Guangzhou Automobile Group Co. Ltd. (H Shares) 620,000 1,135,664 
Guangzhou R&F Properties Co. Ltd. (H Shares) 286,800 681,895 
Haitong Securities Co. Ltd. (H Shares) 953,600 1,302,054 
Huaneng Power International, Inc. (H Shares) 1,242,000 820,838 
Huaneng Renewables Corp. Ltd. (H Shares) 1,478,000 656,384 
Huatai Securities Co. Ltd. (H Shares) (d) 488,400 989,296 
Industrial & Commercial Bank of China Ltd. (H Shares) 21,840,000 19,172,935 
Jiangsu Expressway Co. Ltd. (H Shares) 388,000 531,996 
Jiangxi Copper Co. Ltd. (H Shares) 350,000 497,594 
New China Life Insurance Co. Ltd. (H Shares) 240,900 1,123,173 
People's Insurance Co. of China Group (H Shares) 2,126,000 1,000,889 
PetroChina Co. Ltd. (H Shares) 6,222,000 4,584,801 
PICC Property & Casualty Co. Ltd. (H Shares) 1,371,227 2,454,729 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 1,542,500 15,072,384 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 524,000 322,018 
Shanghai Electric Group Co. Ltd. (H Shares) (a) 852,000 309,331 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 143,000 775,680 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 177,725 254,201 
Shanghai Pharma Holding Co. Ltd. (H Shares) 244,700 667,951 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 975,000 647,409 
Sinopharm Group Co. Ltd. (H Shares) 351,200 1,480,913 
TravelSky Technology Ltd. (H Shares) 276,000 806,204 
Tsingtao Brewery Co. Ltd. (H Shares) 110,000 569,514 
Weichai Power Co. Ltd. (H Shares) 564,200 653,145 
Yanzhou Coal Mining Co. Ltd. (H Shares) 524,000 655,693 
Zhejiang Expressway Co. Ltd. (H Shares) 412,000 423,091 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 163,600 867,387 
Zijin Mng Group Co. Ltd. (H Shares) 1,664,000 754,788 
ZTE Corp. (H Shares) (c) 212,680 480,593 
TOTAL CHINA  160,343,309 
Colombia - 0.3%   
Bancolombia SA 78,181 924,048 
Bancolombia SA sponsored ADR 76 3,622 
Cementos Argos SA 128,535 454,387 
Ecopetrol SA 1,448,711 1,598,817 
Grupo de Inversiones Suramerica SA (a) 69,404 963,123 
Interconexion Electrica SA ESP 123,429 636,269 
Inversiones Argos SA 88,623 631,003 
TOTAL COLOMBIA  5,211,269 
Czech Republic - 0.2%   
Ceske Energeticke Zavody A/S 48,641 1,243,877 
Komercni Banka A/S 24,037 1,037,713 
MONETA Money Bank A/S (d) 136,811 492,517 
Telefonica Czech Rep A/S 17,324 237,040 
TOTAL CZECH REPUBLIC  3,011,147 
Egypt - 0.1%   
Commercial International Bank SAE 299,222 1,597,376 
Commercial International Bank SAE sponsored GDR 2,831 14,523 
Eastern Tobacco Co. 32,664 381,126 
Global Telecom Holding (a) 539,180 154,837 
TOTAL EGYPT  2,147,862 
Greece - 0.3%   
Alpha Bank AE (a) 409,149 1,082,053 
EFG Eurobank Ergasias SA (a) 571,871 724,430 
Ff Group (a) 10,260 194,523 
Greek Organization of Football Prognostics SA 62,690 751,745 
Hellenic Telecommunications Organization SA 74,238 1,080,280 
Jumbo SA 29,241 535,321 
National Bank of Greece SA (a) 1,568,761 655,475 
Piraeus Bank SA (a) 76,889 326,093 
Titan Cement Co. SA (Reg.) 15,151 399,775 
TOTAL GREECE  5,749,695 
Hong Kong - 3.3%   
Beijing Enterprises Holdings Ltd. 161,000 804,178 
BYD Electronic International Co. Ltd. 193,500 295,050 
China Everbright International Ltd. 715,000 1,002,899 
China Everbright Ltd. 264,000 580,950 
China Jinmao Holdings Group Ltd. 1,540,000 871,757 
China Merchants Holdings International Co. Ltd. 396,105 885,044 
China Mobile Ltd. 1,821,000 17,347,750 
China Overseas Land and Investment Ltd. 1,142,000 3,826,421 
China Resources Beer Holdings Co. Ltd. 476,878 2,053,879 
China Resources Pharmaceutical Group Ltd. 571,500 790,076 
China Resources Power Holdings Co. Ltd. 573,691 1,100,405 
China Taiping Insurance Group Ltd. 470,377 1,573,022 
China Unicom Ltd. 1,792,000 2,533,976 
CITIC Pacific Ltd. 1,696,000 2,586,401 
CNOOC Ltd. 5,287,000 8,944,090 
CNOOC Ltd. sponsored ADR 200 33,802 
CSPC Pharmaceutical Group Ltd. 1,390,000 3,540,412 
Far East Horizon Ltd. 568,000 563,619 
Fosun International Ltd. 752,000 1,597,995 
Guangdong Investment Ltd. 874,000 1,352,806 
Lenovo Group Ltd. 2,210,000 1,049,256 
Shanghai Industrial Holdings Ltd. 143,000 374,988 
Sino-Ocean Group Holding Ltd. 846,479 587,763 
Sun Art Retail Group Ltd. 685,466 770,431 
TOTAL HONG KONG  55,066,970 
Hungary - 0.3%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 109,477 1,265,070 
OTP Bank PLC 69,692 3,044,807 
Richter Gedeon PLC 41,291 835,236 
TOTAL HUNGARY  5,145,113 
India - 8.3%   
ACC Ltd. 11,899 283,493 
Adani Ports & Special Economic Zone Ltd. 208,638 1,276,257 
Ambuja Cements Ltd. 172,666 649,906 
Ashok Leyland Ltd. 350,221 863,017 
Asian Paints Ltd. 84,489 1,524,590 
Aurobindo Pharma Ltd. 80,575 776,661 
Axis Bank Ltd. 527,321 4,088,034 
Bajaj Auto Ltd. 23,966 1,060,994 
Bajaj Finance Ltd. 51,030 1,458,895 
Bajaj Finserv Ltd. 11,365 934,964 
Bharat Forge Ltd. 62,958 731,132 
Bharat Heavy Electricals Ltd. 258,419 339,848 
Bharat Petroleum Corp. Ltd. 222,280 1,291,541 
Bharti Airtel Ltd. 415,646 2,552,439 
Bharti Infratel Ltd. 100,981 475,258 
Bosch Ltd. 2,281 664,532 
Britannia Industries Ltd. 8,032 666,070 
Cadila Healthcare Ltd. (a) 58,291 360,941 
Cipla Ltd. (a) 104,844 955,054 
Coal India Ltd. 205,291 878,743 
Container Corp. of India Ltd. 10,967 214,631 
Dabur India Ltd. 164,187 910,465 
Dr. Reddy's Laboratories Ltd. 34,598 1,099,426 
Eicher Motors Ltd. 3,969 1,854,422 
GAIL India Ltd. 202,802 990,064 
Glenmark Pharmaceuticals Ltd. 40,226 345,495 
Godrej Consumer Products Ltd. 71,438 1,197,101 
Grasim Industries Ltd. 96,992 1,590,311 
Havells India Ltd. 72,399 593,785 
HCL Technologies Ltd. 165,443 2,615,568 
Hero Motocorp Ltd. 14,390 806,089 
Hindalco Industries Ltd. 349,598 1,229,986 
Hindustan Petroleum Corp. Ltd. 184,023 840,200 
Hindustan Unilever Ltd. 190,547 4,311,812 
Housing Development Finance Corp. Ltd. 448,506 12,689,591 
ICICI Bank Ltd. 706,248 3,018,287 
Idea Cellular Ltd. (a) 579,301 600,894 
IDFC Bank Ltd. 390,007 282,508 
Indiabulls Housing Finance Ltd. 93,169 1,824,135 
Indian Oil Corp. Ltd. 351,615 854,827 
Infosys Ltd. 517,281 9,314,129 
ITC Ltd. 1,011,429 4,274,304 
JSW Steel Ltd. 250,484 1,217,927 
Larsen & Toubro Ltd. 138,833 2,918,502 
LIC Housing Finance Ltd. 84,773 694,059 
Lupin Ltd. (a) 63,047 767,913 
Mahindra & Mahindra Financial Services Ltd. (a) 89,564 709,063 
Mahindra & Mahindra Ltd. 223,929 2,932,421 
Marico Ltd. 138,892 692,927 
Maruti Suzuki India Ltd. 31,566 4,173,117 
Motherson Sumi Systems Ltd. 187,634 994,140 
Nestle India Ltd. 7,053 996,554 
NTPC Ltd. 494,042 1,277,397 
Oil & Natural Gas Corp. Ltd. 380,354 1,030,903 
Petronet LNG Ltd. 183,420 624,489 
Piramal Enterprises Ltd. (a) 24,501 955,572 
Power Finance Corp. Ltd. 182,679 240,665 
Reliance Industries Ltd. 843,481 12,178,516 
Rural Electrification Corp. Ltd. 190,925 365,112 
Shree Cement Ltd. 2,521 641,242 
Shriram Transport Finance Co. Ltd. 43,588 1,052,236 
Siemens India Ltd. 19,996 336,884 
State Bank of India 513,397 1,896,943 
Sun Pharmaceutical Industries Ltd. 280,367 2,224,221 
Tata Consultancy Services Ltd. 135,961 7,210,421 
Tata Motors Ltd. (a) 482,287 2,449,307 
Tata Motors Ltd. Class A (a) 105,491 302,318 
Tata Power Co. Ltd. 307,775 407,527 
Tata Steel Ltd. 105,977 942,707 
Tech Mahindra Ltd. 139,125 1,398,390 
Titan Co. Ltd. (a) 91,902 1,354,004 
Ultratech Cemco Ltd. 26,225 1,616,852 
United Spirits Ltd. (a) 17,355 943,203 
UPL Ltd. (a) 106,416 1,165,101 
Vakrangee Ltd. 124,566 186,718 
Vedanta Ltd. 436,010 1,944,393 
Wipro Ltd. 330,266 1,376,430 
Yes Bank Ltd. 496,704 2,693,644 
Zee Entertainment Enterprises Ltd. (a) 158,040 1,395,781 
TOTAL INDIA  137,597,998 
Indonesia - 1.9%   
PT Adaro Energy Tbk 4,297,800 562,802 
PT AKR Corporindo Tbk 472,100 165,310 
PT Astra International Tbk 6,128,000 3,136,475 
PT Bank Central Asia Tbk 2,933,200 4,638,219 
PT Bank Danamon Indonesia Tbk Series A 996,200 474,870 
PT Bank Mandiri (Persero) Tbk 5,586,000 2,829,614 
PT Bank Negara Indonesia (Persero) Tbk 2,204,500 1,269,166 
PT Bank Rakyat Indonesia Tbk 16,531,900 3,811,735 
PT Bank Tabungan Negara Tbk 1,229,000 273,892 
PT Bumi Serpong Damai Tbk 2,039,500 246,278 
PT Charoen Pokphand Indonesia Tbk 2,194,500 578,530 
PT Gudang Garam Tbk 138,500 688,050 
PT Hanjaya Mandala Sampoerna Tbk 2,776,100 703,449 
PT Indocement Tunggal Prakarsa Tbk 524,500 663,761 
PT Indofood CBP Sukses Makmur Tbk 650,700 404,256 
PT Indofood Sukses Makmur Tbk 1,386,100 693,009 
PT Jasa Marga Tbk 596,337 186,422 
PT Kalbe Farma Tbk 6,274,600 677,371 
PT Matahari Department Store Tbk 731,300 541,472 
PT Pakuwon Jati Tbk 5,792,100 244,831 
PT Perusahaan Gas Negara Tbk Series B 3,214,000 454,955 
PT Semen Gresik (Persero) Tbk 850,800 587,635 
PT Surya Citra Media Tbk 1,604,300 293,654 
PT Telkomunikasi Indonesia Tbk Series B 15,094,700 4,118,960 
PT Tower Bersama Infrastructure Tbk 551,800 219,767 
PT Unilever Indonesia Tbk 451,000 1,498,970 
PT United Tractors Tbk 498,100 1,215,306 
PT Waskita Karya Persero Tbk 1,268,700 200,413 
PT XL Axiata Tbk (a) 789,575 119,672 
TOTAL INDONESIA  31,498,844 
Isle of Man - 0.1%   
NEPI Rockcastle PLC 110,121 1,213,615 
Korea (South) - 14.4%   
AMOREPACIFIC Corp. 9,305 3,032,374 
AMOREPACIFIC Group, Inc. 8,491 1,133,798 
BGF Retail Co. Ltd. 2,344 418,054 
BGFretail Co. Ltd. 4,377 51,906 
BS Financial Group, Inc. 78,286 763,908 
Celltrion Healthcare Co. Ltd. 10,255 859,910 
Celltrion, Inc. 24,083 6,094,258 
Cheil Industries, Inc. 22,682 2,965,175 
Cheil Worldwide, Inc. 20,770 370,434 
CJ CheilJedang Corp. 2,481 794,624 
CJ Corp. 4,084 619,698 
CJ E&M Corp. 5,655 477,884 
Coway Co. Ltd. 15,530 1,268,880 
Daelim Industrial Co. 8,418 676,003 
Daewoo Engineering & Construction Co. Ltd. (a) 44,456 263,600 
Db Insurance Co. Ltd. 14,259 837,492 
DGB Financial Group Co. Ltd. 47,549 532,799 
Dong Suh Companies, Inc. 9,288 238,938 
Doosan Bobcat, Inc. 10,017 304,927 
Doosan Heavy Industries & Construction Co. Ltd. 16,360 273,450 
E-Mart Co. Ltd. 6,135 1,546,747 
GS Engineering & Construction Corp. 14,385 548,038 
GS Holdings Corp. 14,872 851,277 
GS Retail Co. Ltd. 7,711 267,852 
Hana Financial Group, Inc. 88,164 3,931,023 
Hankook Tire Co. Ltd. 21,933 1,012,757 
Hanmi Pharm Co. Ltd. 1,790 778,897 
Hanmi Science Co. Ltd. 3,521 255,792 
Hanon Systems 53,700 546,565 
Hanssem Co. Ltd. 2,897 315,149 
Hanwha Chemical Corp. 30,726 830,607 
Hanwha Corp. 12,674 472,793 
Hanwha Life Insurance Co. Ltd. 71,654 416,840 
Hanwha Techwin Co. Ltd. (a) 9,531 214,485 
Hotel Shilla Co. 9,216 998,255 
Hyosung Corp. 6,269 769,777 
Hyundai Department Store Co. Ltd. 4,190 404,944 
Hyundai Engineering & Construction Co. Ltd. 23,047 1,368,713 
Hyundai Fire & Marine Insurance Co. Ltd. 18,665 666,654 
Hyundai Glovis Co. Ltd. 5,654 889,604 
Hyundai Heavy Industries Co. Ltd. (a) 12,231 1,364,806 
Hyundai Industrial Development & Construction Co. (c) 18,649 808,006 
Hyundai Mobis 20,257 4,691,025 
Hyundai Motor Co. 45,712 6,829,535 
Hyundai Robotics Co. Ltd. 2,938 1,159,096 
Hyundai Steel Co. 23,838 1,348,911 
Hyundai Wia Corp. 4,225 211,857 
Industrial Bank of Korea 74,158 1,166,807 
ING Life Insurance Korea Ltd. (d) 9,441 363,209 
Kakao Corp. 13,325 1,381,119 
Kangwon Land, Inc. 35,202 949,962 
KB Financial Group, Inc. 118,060 6,689,581 
KCC Corp. 1,613 588,914 
KEPCO Plant Service & Engineering Co. Ltd. 5,721 270,845 
Kia Motors Corp. 76,995 2,379,751 
Korea Aerospace Industries Ltd. 20,062 809,280 
Korea Electric Power Corp. 76,547 2,670,561 
Korea Express Co. Ltd. (a) 2,269 331,581 
Korea Gas Corp. (a) 7,918 405,170 
Korea Investment Holdings Co. Ltd. 11,730 997,832 
Korea Zinc Co. Ltd. 2,511 1,016,428 
Korean Air Lines Co. Ltd. 14,554 464,103 
KT Corp. 216 5,477 
KT&G Corp. 34,860 3,183,517 
Kumho Petro Chemical Co. Ltd. 5,054 507,323 
LG Chemical Ltd. 13,367 4,493,424 
LG Corp. 27,756 2,101,932 
LG Display Co. Ltd. 67,940 1,479,428 
LG Electronics, Inc. 31,773 3,026,212 
LG Household & Health Care Ltd. 2,714 3,471,933 
LG Innotek Co. Ltd. 4,119 448,083 
Lotte Chemical Corp. 4,522 1,748,122 
Lotte Chilsung Beverage Co. Ltd. 7,564 
Lotte Confectionery Co. Ltd. 19 3,371 
Lotte Confectionery Co. Ltd. 8,493 516,277 
Lotte Shopping Co. Ltd. 3,302 789,329 
Medy-Tox, Inc. 1,218 793,405 
Mirae Asset Daewoo Co. Ltd. 104,683 955,996 
NAVER Corp. 8,324 5,565,267 
NCSOFT Corp. 5,124 1,722,474 
Netmarble Corp. (d) 7,516 1,035,189 
Oci Co. Ltd. 4,976 724,846 
Orion Corp./Republic of Korea 6,299 732,288 
Ottogi Corp. 313 232,063 
POSCO 21,969 7,549,336 
Posco Daewoo Corp. 10,386 218,693 
S-Oil Corp. 13,561 1,392,917 
S1 Corp. 5,210 477,252 
Samsung Biologics Co. Ltd. (a)(d) 4,897 2,231,469 
Samsung Card Co. Ltd. 7,648 266,378 
Samsung Electro-Mechanics Co. Ltd. 16,482 1,823,766 
Samsung Electronics Co. Ltd. 28,698 71,113,644 
Samsung Fire & Marine Insurance Co. Ltd. 8,964 2,239,064 
Samsung Heavy Industries Co. Ltd. (a) 113,279 777,459 
Samsung Life Insurance Co. Ltd. 20,880 2,281,168 
Samsung SDI Co. Ltd. 16,343 2,800,327 
Samsung SDS Co. Ltd. 10,365 2,371,244 
Samsung Securities Co. Ltd. 20,482 709,557 
Shinhan Financial Group Co. Ltd. 127,177 5,647,566 
Shinsegae Co. Ltd. 2,173 847,144 
SillaJen, Inc. (a) 15,777 1,238,972 
SK C&C Co. Ltd. 9,243 2,537,472 
SK Energy Co. Ltd. 19,293 3,540,000 
SK Hynix, Inc. 172,327 13,597,247 
SK Networks Co. Ltd. 51,946 272,602 
SK Telecom Co. Ltd. 5,946 1,267,029 
STX Pan Ocean Co. Ltd. (Korea) (a) 58,595 300,929 
Woori Bank 138,017 2,068,467 
Woori Investment & Securities Co. Ltd. 41,140 599,280 
Yuhan Corp. 2,732 584,194 
TOTAL KOREA (SOUTH)  238,259,956 
Luxembourg - 0.0%   
PLAY Communications SA (d) 34,291 289,581 
Malaysia - 2.4%   
AirAsia Group BHD 470,700 460,070 
Alliance Bank Malaysia Bhd 270,100 298,337 
AMMB Holdings Bhd 461,000 455,542 
Astro Malaysia Holdings Bhd (d) 432,500 209,563 
Axiata Group Bhd 775,142 1,040,592 
British American Tobacco (Malaysia) Bhd 39,000 243,296 
Bumiputra-Commerce Holdings Bhd 1,382,836 2,521,441 
Dialog Group Bhd 890,200 695,987 
DiGi.com Bhd 931,700 1,094,154 
Felda Global Ventures Holdings Bhd (d) 467,100 202,255 
Gamuda Bhd 525,600 686,658 
Genting Bhd 668,300 1,518,479 
Genting Malaysia Bhd 856,100 1,115,188 
Genting Plantations Bhd 73,100 184,591 
Hap Seng Consolidated Bhd 172,300 428,939 
Hartalega Holdings Bhd 390,400 581,327 
Hong Leong Bank Bhd 193,100 931,438 
Hong Leong Credit Bhd 62,900 310,682 
IHH Healthcare Bhd (d) 609,300 941,822 
IJM Corp. Bhd 806,900 611,172 
IOI Corp. Bhd 662,800 805,652 
IOI Properties Group Bhd 494,375 196,422 
Kuala Lumpur Kepong Bhd 146,600 950,580 
Malayan Banking Bhd 1,313,231 3,602,017 
Malaysia Airports Holdings Bhd 264,006 605,143 
Maxis Bhd 589,800 873,940 
MISC Bhd 406,600 738,681 
Nestle (Malaysia) BHD 16,600 583,416 
Petronas Chemicals Group Bhd 712,600 1,531,723 
Petronas Dagangan Bhd 68,600 471,142 
Petronas Gas Bhd 205,800 931,630 
PPB Group Bhd 132,300 647,692 
Press Metal Bhd 380,800 464,832 
Public Bank Bhd 872,800 5,283,983 
RHB Capital Bhd 213,889 287,744 
RHB Capital Bhd (a)(c) 99,132 
SapuraKencana Petroleum Bhd 1,014,500 163,408 
Sime Darby Bhd 686,849 465,389 
Sime Darby Plantation Bhd 710,649 1,007,906 
Sime Darby Property Bhd 623,649 236,415 
SP Setia Bhd 439,540 356,077 
Telekom Malaysia Bhd 317,280 426,989 
Tenaga Nasional Bhd 1,019,400 4,106,886 
UMW Holdings Bhd (a) 130,300 202,401 
Westports Holdings Bhd 299,200 252,914 
YTL Corp. Bhd 1,285,743 472,806 
YTL Power International Bhd 584,225 136,496 
TOTAL MALAYSIA  40,333,817 
Malta - 0.0%   
Brait SA 106,557 368,201 
Mexico - 2.9%   
Alfa SA de CV Series A 878,400 1,127,704 
America Movil S.A.B. de CV Series L 9,958,700 9,217,444 
Banco Santander Mexico SA 538,560 798,248 
CEMEX S.A.B. de CV unit 4,340,918 2,715,678 
Coca-Cola FEMSA S.A.B. de CV Series L 149,700 971,983 
Compartamos S.A.B. de CV (b) 296,000 236,616 
El Puerto de Liverpool S.A.B. de CV Class C 57,040 380,571 
Embotelladoras Arca S.A.B. de CV 129,600 895,736 
Fibra Uno Administracion SA de CV 946,000 1,566,546 
Fomento Economico Mexicano S.A.B. de CV unit 576,800 5,575,533 
Gruma S.A.B. de CV Series B 63,870 780,119 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 106,400 1,106,780 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 61,415 1,104,462 
Grupo Bimbo S.A.B. de CV Series A 491,200 1,143,294 
Grupo Carso SA de CV Series A1 126,300 453,820 
Grupo Financiero Banorte S.A.B. de CV Series O 740,200 4,631,482 
Grupo Financiero Inbursa S.A.B. de CV Series O 695,000 1,157,959 
Grupo Lala S.A.B. de CV (b) 190,500 243,650 
Grupo Mexico SA de CV Series B 1,127,607 3,748,430 
Grupo Televisa SA de CV 714,900 2,565,713 
Industrias Penoles SA de CV 41,135 863,388 
Infraestructura Energetica Nova S.A.B. de CV 157,400 692,905 
Kimberly-Clark de Mexico SA de CV Series A 450,600 817,737 
Mexichem S.A.B. de CV 310,355 969,463 
Promotora y Operadora de Infraestructura S.A.B. de CV 72,030 738,092 
Wal-Mart de Mexico SA de CV Series V 1,550,600 4,308,869 
TOTAL MEXICO  48,812,222 
Netherlands - 0.0%   
Steinhoff International Holdings NV (South Africa) 795,583 122,549 
Pakistan - 0.1%   
Habib Bank Ltd. 157,700 265,676 
Lucky Cement Ltd. 41,200 235,714 
MCB Bank Ltd. 123,000 222,277 
Oil & Gas Development Co. Ltd. 178,200 257,085 
United Bank Ltd. 136,400 237,346 
TOTAL PAKISTAN  1,218,098 
Peru - 0.0%   
Compania de Minas Buenaventura SA 337 5,439 
Compania de Minas Buenaventura SA sponsored ADR 57,587 918,513 
TOTAL PERU  923,952 
Philippines - 1.0%   
Aboitiz Equity Ventures, Inc. 603,970 812,712 
Aboitiz Power Corp. 431,300 316,620 
Alliance Global Group, Inc. (a) 1,058,700 267,065 
Ayala Corp. 73,275 1,365,073 
Ayala Land, Inc. 2,171,500 1,708,955 
Bank of the Philippine Islands (BPI) 319,997 648,676 
BDO Unibank, Inc. 579,306 1,471,623 
DMCI Holdings, Inc. 1,127,250 239,975 
Globe Telecom, Inc. 9,415 280,736 
GT Capital Holdings, Inc. 24,980 507,068 
International Container Terminal Services, Inc. 174,500 285,051 
JG Summit Holdings, Inc. 818,300 1,009,561 
Jollibee Food Corp. 121,910 670,992 
Manila Electric Co. 68,570 426,328 
Megaworld Corp. 3,509,100 304,973 
Metro Pacific Investments Corp. 4,437,400 437,098 
Metropolitan Bank & Trust Co. 228,544 374,896 
Philippine Long Distance Telephone Co. 26,310 737,443 
Robinsons Land Corp. 587,151 202,805 
Security Bank Corp. 65,050 262,346 
SM Investments Corp. 69,530 1,259,235 
SM Prime Holdings, Inc. 2,553,600 1,685,415 
Universal Robina Corp. 260,820 708,929 
TOTAL PHILIPPINES  15,983,575 
Poland - 1.2%   
Alior Bank SA (a) 25,252 511,177 
Bank Handlowy w Warszawie SA 8,407 198,807 
Bank Millennium SA (a) 168,117 409,533 
Bank Polska Kasa Opieki SA 46,393 1,545,178 
Bank Zachodni WBK SA 10,312 1,091,180 
BRE Bank SA 4,567 558,733 
CD Projekt RED SA 19,909 707,906 
Cyfrowy Polsat SA 67,533 493,724 
Dino Polska SA (a)(d) 14,640 396,256 
Grupa Lotos SA 25,620 403,806 
Jastrzebska Spolka Weglowa SA (a) 15,749 371,620 
KGHM Polska Miedz SA (Bearer) 42,083 1,122,741 
LPP SA 385 1,005,869 
NG2 SA 8,253 609,008 
Polish Oil & Gas Co. SA 514,675 906,219 
Polska Grupa Energetyczna SA (a) 239,251 713,694 
Polski Koncern Naftowy Orlen SA 89,610 2,290,131 
Powszechna Kasa Oszczednosci Bank SA (a) 281,268 3,352,922 
Powszechny Zaklad Ubezpieczen SA 176,634 2,159,959 
Tauron Polska Energia SA (a) 272,845 182,682 
Telekomunikacja Polska SA (a) 178,985 268,744 
Zaklady Azotowe w Tarnowie-Moscicach SA 11,995 182,838 
TOTAL POLAND  19,482,727 
Qatar - 0.6%   
Barwa Real Estate Co. 25,893 251,392 
Doha Bank 39,582 294,501 
Ezdan Holding Group (a) 226,660 697,846 
Industries Qatar QSC (a) 46,111 1,418,410 
Masraf al Rayan 103,654 1,012,911 
Qatar Electricity & Water Co. 8,062 438,417 
Qatar Gas Transport Co. Ltd. (Nakilat) 89,067 359,350 
Qatar Insurance Co. SAQ 45,037 451,236 
Qatar Islamic Bank 19,389 569,848 
Qatar National Bank SAQ 67,570 2,802,271 
Qatar Telecom (Qtel) Q.S.C. (a) 23,798 517,660 
The Commercial Bank of Qatar 63,389 629,363 
TOTAL QATAR  9,443,205 
Russia - 3.2%   
Alrosa Co. Ltd. 757,863 1,078,441 
Gazprom OAO 1,251,306 2,899,727 
Gazprom OAO sponsored ADR (Reg. S) 958,252 4,434,790 
Inter Rao Ues JSC 9,175,744 582,841 
Lukoil PJSC 57,158 3,776,003 
Lukoil PJSC sponsored ADR 68,904 4,602,787 
Magnit OJSC GDR (Reg. S) 106,159 2,015,959 
Magnitogorsk Iron & Steel Works PJSC 637,900 493,120 
MMC Norilsk Nickel PJSC 9,505 1,623,558 
MMC Norilsk Nickel PJSC sponsored ADR 92,519 1,590,864 
Mobile TeleSystems OJSC sponsored ADR 146,681 1,540,151 
Moscow Exchange MICEX-RTS OAO 442,131 847,788 
NOVATEK OAO 6,025 73,671 
NOVATEK OAO GDR (Reg. S) 26,585 3,376,295 
Novolipetsk Steel OJSC 361,002 923,881 
PhosAgro OJSC GDR (Reg. S) 35,028 505,104 
Polyus PJSC 8,081 512,662 
Rosneft Oil Co. OJSC 151,384 920,721 
Rosneft Oil Co. OJSC GDR (Reg. S) 191,497 1,166,983 
RusHydro PJSC 11,364,801 134,452 
RusHydro PJSC ADR 194,501 220,953 
Sberbank of Russia 3,194,176 11,385,625 
Severstal PAO 24,064 386,682 
Severstal PAO GDR (Reg. S) 38,232 610,565 
Surgutneftegas OJSC 970,349 453,644 
Surgutneftegas OJSC sponsored ADR 116,797 548,712 
Tatneft PAO 224,385 2,391,100 
Tatneft PAO sponsored ADR 37,903 2,444,744 
VTB Bank OJSC (a) 1,521,535,800 1,304,018 
TOTAL RUSSIA  52,845,841 
South Africa - 6.4%   
Adcock Ingram Holdings Ltd. warrants 7/26/19 (a) 859 400 
African Bank Investments Ltd. (a) 116,009 6,163 
Anglo American Platinum Ltd. 15,236 408,861 
AngloGold Ashanti Ltd. 123,308 1,102,209 
Aspen Pharmacare Holdings Ltd. 115,705 2,494,793 
Barclays Africa Group Ltd. 214,250 3,138,178 
Bidcorp Ltd. 100,122 2,301,628 
Bidvest Group Ltd. 99,182 1,942,892 
Capitec Bank Holdings Ltd. 11,930 849,345 
Coronation Fund Managers Ltd. 68,013 403,886 
Discovery Ltd. 103,431 1,436,126 
Exxaro Resources Ltd. 74,504 660,848 
FirstRand Ltd. 997,550 5,342,406 
Fortress (REIT) Ltd.:   
Class A 323,442 445,128 
Class B 236,572 329,690 
Foschini Ltd. 65,802 1,132,155 
Gold Fields Ltd. 243,524 924,551 
Growthpoint Properties Ltd. 865,712 2,002,847 
Hyprop Investments Ltd. 74,806 682,947 
Imperial Holdings Ltd. 44,712 860,084 
Investec Ltd. 82,089 647,546 
Kumba Iron Ore Ltd. 17,922 382,858 
Liberty Holdings Ltd. 36,678 386,457 
Life Healthcare Group Holdings Ltd. 393,834 928,378 
MMI Holdings Ltd. 287,630 512,034 
Mondi Ltd. 35,458 1,034,482 
Mr Price Group Ltd. 71,206 1,562,534 
MTN Group Ltd. 504,652 5,065,041 
Naspers Ltd. Class N 129,862 31,636,924 
Nedbank Group Ltd. 65,447 1,560,781 
Netcare Ltd. 297,278 740,248 
Novus Holdings Ltd. 39,158 12,585 
Pick 'n Pay Stores Ltd. 106,033 686,428 
Pioneer Foods Ltd. 39,480 383,961 
PSG Group Ltd. 44,504 800,735 
Rand Merchant Insurance Holdings Ltd. 217,044 718,795 
Redefine Properties Ltd. 1,515,564 1,456,478 
Remgro Ltd. 158,641 2,856,113 
Resilient Property Income Fund Ltd. 83,091 452,100 
RMB Holdings Ltd. 206,010 1,292,150 
Sanlam Ltd. 413,095 2,609,529 
Sappi Ltd. 165,959 1,059,096 
Sasol Ltd. 164,367 5,875,687 
Shoprite Holdings Ltd. 132,570 2,637,589 
Sibanye-Stillwater 546,552 479,085 
Spar Group Ltd. 57,252 962,453 
Standard Bank Group Ltd. 384,019 6,586,156 
Telkom SA Ltd. 81,771 373,436 
Tiger Brands Ltd. 47,949 1,498,569 
Truworths International Ltd. 130,071 1,063,406 
Vodacom Group Ltd. 175,668 2,196,185 
Woolworths Holdings Ltd. 292,937 1,505,443 
TOTAL SOUTH AFRICA  106,428,399 
Taiwan - 10.8%   
Acer, Inc. 859,994 654,706 
Advantech Co. Ltd. 107,459 736,399 
ASE Industrial Holding Co. Ltd. 1,036,927 2,792,457 
Asia Cement Corp. 730,153 777,822 
Asia Pacific Telecom Co. Ltd. (a) 589,000 174,346 
ASUSTeK Computer, Inc. 206,000 1,921,789 
AU Optronics Corp. 2,504,000 1,030,710 
Catcher Technology Co. Ltd. 191,000 2,114,472 
Cathay Financial Holding Co. Ltd. 2,424,641 4,341,511 
Chang Hwa Commercial Bank 1,382,239 794,260 
Cheng Shin Rubber Industry Co. Ltd. 582,937 938,307 
Chicony Electronics Co. Ltd. 172,927 425,290 
China Airlines Ltd. (a) 772,043 281,125 
China Development Finance Holding Corp. 4,019,800 1,517,186 
China Life Insurance Co. Ltd. 736,951 797,031 
China Steel Corp. 3,693,204 2,917,281 
Chinatrust Financial Holding Co. Ltd. 5,265,826 3,748,741 
Chunghwa Telecom Co. Ltd. 1,116,000 4,238,935 
Compal Electronics, Inc. 1,278,000 830,954 
Delta Electronics, Inc. 583,381 2,111,307 
E.SUN Financial Holdings Co. Ltd. 2,729,387 1,926,678 
ECLAT Textile Co. Ltd. 52,613 633,623 
EVA Airways Corp. 569,596 305,325 
Evergreen Marine Corp. (Taiwan) (a) 516,195 260,633 
Far Eastern Textile Ltd. 1,029,705 981,053 
Far EasTone Telecommunications Co. Ltd. 483,000 1,275,623 
Feng Tay Enterprise Co. Ltd. 91,520 414,271 
First Financial Holding Co. Ltd. 2,705,607 1,856,830 
Formosa Chemicals & Fibre Corp. 869,760 3,189,969 
Formosa Petrochemical Corp. 400,000 1,629,247 
Formosa Plastics Corp. 1,227,520 4,300,034 
Formosa Taffeta Co. Ltd. 232,000 261,851 
Foxconn Technology Co. Ltd. 255,587 633,469 
Fubon Financial Holding Co. Ltd. 1,981,334 3,383,776 
Giant Manufacturing Co. Ltd. 83,000 420,788 
GlobalWafers Co. Ltd. 64,000 1,030,654 
Highwealth Construction Corp. 272,000 418,025 
HIWIN Technologies Corp. 62,672 942,414 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 4,620,087 12,827,466 
Hotai Motor Co. Ltd. 84,000 821,897 
HTC Corp. (a) 206,000 416,902 
Hua Nan Financial Holdings Co. Ltd. 2,142,820 1,293,539 
Innolux Corp. 2,716,347 1,009,034 
Inventec Corp. 781,865 591,325 
Largan Precision Co. Ltd. 30,000 3,483,067 
Lite-On Technology Corp. 630,279 830,251 
Macronix International Co. Ltd. (a) 531,000 842,051 
MediaTek, Inc. 445,292 5,055,605 
Mega Financial Holding Co. Ltd. 3,196,413 2,816,819 
Micro-Star International Co. Ltd. 201,000 626,642 
Nan Ya Plastics Corp. 1,407,860 3,849,279 
Nanya Technology Corp. 307,000 953,962 
Nien Made Enterprise Co. Ltd. 44,000 390,140 
Novatek Microelectronics Corp. 168,000 703,936 
Pegatron Corp. 580,000 1,349,859 
Phison Electronics Corp. 41,000 370,509 
Pou Chen Corp. 623,000 777,728 
Powertech Technology, Inc. 206,000 588,657 
President Chain Store Corp. 169,000 1,658,238 
Quanta Computer, Inc. 799,000 1,450,106 
Realtek Semiconductor Corp. 139,401 526,239 
Ruentex Development Co. Ltd. 269,800 322,494 
Ruentex Industries Ltd. 150,000 290,125 
Shin Kong Financial Holding Co. Ltd. 2,467,533 1,001,084 
Sinopac Holdings Co. 3,014,050 1,082,732 
Standard Foods Corp. 172,812 386,877 
Synnex Technology International Corp. 441,500 632,960 
TaiMed Biologics, Inc. (a) 52,000 539,535 
Taishin Financial Holdings Co. Ltd. 2,901,782 1,407,538 
Taiwan Business Bank 1,017,973 312,277 
Taiwan Cement Corp. 1,049,000 1,439,009 
Taiwan Cooperative Financial Holding Co. Ltd. 2,364,028 1,371,214 
Taiwan High Speed Rail Corp. 486,000 372,635 
Taiwan Mobile Co. Ltd. 473,900 1,746,968 
Taiwan Semiconductor Manufacturing Co. Ltd. 7,286,000 55,401,649 
TECO Electric & Machinery Co. Ltd. 616,000 499,099 
Unified-President Enterprises Corp. 1,411,983 3,392,152 
United Microelectronics Corp. 3,525,000 1,897,568 
Vanguard International Semiconductor Corp. 268,000 542,277 
Win Semiconductors Corp. 102,000 763,471 
Winbond Electronics Corp. 898,000 548,648 
Wistron Corp. 728,899 578,596 
WPG Holding Co. Ltd. 460,000 617,898 
Yageo Corp. 62,000 1,297,279 
Yuanta Financial Holding Co. Ltd. 2,933,952 1,397,755 
TOTAL TAIWAN  178,083,983 
Thailand - 2.4%   
Advanced Info Service PCL (For. Reg.) 308,500 2,030,578 
Airports of Thailand PCL (For. Reg.) 1,253,200 2,818,914 
Bangkok Bank PCL (For. Reg.) 68,600 437,015 
Bangkok Dusit Medical Services PCL (For. Reg.) 1,138,400 810,683 
Bangkok Expressway and Metro PCL 2,069,400 506,979 
Banpu PCL (For. Reg.) 549,900 335,649 
Berli Jucker PCL (For. Reg) 367,800 694,157 
BTS Group Holdings PCL 1,638,200 461,638 
Bumrungrad Hospital PCL (For. Reg.) 99,700 598,394 
C.P. ALL PCL (For. Reg.) 1,471,100 4,046,261 
Central Pattana PCL (For. Reg.) 407,700 1,040,069 
Charoen Pokphand Foods PCL (For. Reg.) 918,620 708,773 
Delta Electronics PCL (For. Reg.) 138,000 293,645 
Electricity Generating PCL (For. Reg.) 37,100 261,498 
Energy Absolute PCL 308,800 349,074 
Glow Energy PCL (For. Reg.) 139,200 379,059 
Home Product Center PCL (For. Reg.) 1,199,006 567,096 
Indorama Ventures PCL (For. Reg.) 477,800 906,587 
IRPC PCL (For. Reg.) 3,106,800 691,144 
Kasikornbank PCL 54,600 346,059 
Kasikornbank PCL (For. Reg.) 508,100 3,220,372 
KCE Electronics PCL 74,000 160,116 
Krung Thai Bank PCL (For. Reg.) 972,270 558,333 
Minor International PCL (For. Reg.) 690,980 877,506 
PTT Exploration and Production PCL (For. Reg.) 423,039 1,792,162 
PTT Global Chemical PCL (For. Reg.) 672,939 2,079,132 
PTT PCL (For. Reg.) 3,139,000 5,584,079 
Robinsons Department Store PCL (For. Reg.) 135,600 281,829 
Siam Cement PCL (For. Reg.) 125,750 1,859,486 
Siam Commercial Bank PCL (For. Reg.) 538,400 2,229,416 
Thai Oil PCL (For. Reg.) 334,700 996,067 
Thai Union Frozen Products PCL (For. Reg.) 497,120 282,693 
TMB PCL (For. Reg.) 2,897,500 215,789 
True Corp. PCL (For. Reg.) 3,052,219 734,027 
TOTAL THAILAND  39,154,279 
Turkey - 0.9%   
Akbank T.A.S. 655,113 1,364,382 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 59,374 389,386 
Arcelik A/S 65,953 293,550 
Aselsan A/S 55,151 342,140 
Bim Birlesik Magazalar A/S JSC 61,218 1,039,113 
Coca-Cola Icecek Sanayi A/S 19,366 171,343 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 519,062 310,510 
Eregli Demir ve Celik Fabrikalari T.A.S. 425,825 1,065,060 
Ford Otomotiv Sanayi A/S 21,481 296,930 
Haci Omer Sabanci Holding A/S 264,133 625,529 
Koc Holding A/S 238,796 806,549 
Petkim Petrokimya Holding A/S 234,478 414,454 
TAV Havalimanlari Holding A/S 43,848 235,102 
Tofas Turk Otomobil Fabrikasi A/S 33,836 208,409 
Tupras Turkiye Petrol Rafinerileri A/S 35,670 908,851 
Turk Hava Yollari AO (a) 163,600 672,991 
Turk Sise ve Cam Fabrikalari A/S 229,029 254,282 
Turk Telekomunikasyon (a) 140,840 217,738 
Turkcell Iletisim Hizmet A/S 337,689 1,160,518 
Turkiye Garanti Bankasi A/S 685,066 1,553,250 
Turkiye Halk Bankasi A/S 176,143 358,608 
Turkiye Is Bankasi A/S Series C 478,658 725,864 
Turkiye Vakiflar Bankasi TAO 206,187 303,030 
Ulker Biskuvi Sanayi A/S 40,149 210,525 
Yapi ve Kredi Bankasi A/S (a) 302,039 295,934 
TOTAL TURKEY  14,224,048 
United Arab Emirates - 0.6%   
Abu Dhabi Commercial Bank PJSC 594,132 1,137,102 
Aldar Properties PJSC 1,020,283 583,313 
Damac Properties Dubai Co. PJSC (a) 549,208 414,169 
DP World Ltd. 48,798 1,085,756 
Dubai Investments Ltd. 375,909 194,445 
Dubai Islamic Bank Pakistan Ltd. 369,581 553,393 
Dubai Parks and Resorts PJSC (a) 913,149 95,960 
Emaar Malls Group PJSC (a) 681,375 411,813 
Emaar Properties PJSC 1,065,160 1,679,016 
Emirates Telecommunications Corp. 510,458 2,383,337 
National Bank of Abu Dhabi PJSC 413,860 1,397,129 
TOTAL UNITED ARAB EMIRATES  9,935,433 
United States of America - 0.4%   
Southern Copper Corp. 25,320 1,337,149 
Yum China Holdings, Inc. 112,750 4,821,190 
TOTAL UNITED STATES OF AMERICA  6,158,339 
TOTAL COMMON STOCKS   
(Cost $1,251,723,592)  1,550,746,537 
Nonconvertible Preferred Stocks - 3.8%   
Brazil - 2.6%   
Banco Bradesco SA (PN) 983,063 9,700,984 
Braskem SA (PN-A) 51,100 665,881 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 65,200 424,343 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 45,700 1,027,050 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 276,033 666,602 
Gerdau SA 304,400 1,446,752 
Itau Unibanco Holding SA 957,721 13,945,349 
Itausa-Investimentos Itau SA (PN) 1,200,274 4,663,088 
Lojas Americanas SA (PN) 220,984 1,258,458 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (a) 1,151,800 7,552,194 
Telefonica Brasil SA 131,900 1,850,184 
TOTAL BRAZIL  43,200,885 
Chile - 0.1%   
Embotelladora Andina SA Class B 74,749 371,685 
Sociedad Quimica y Minera de Chile SA (PN-B) 28,118 1,535,772 
TOTAL CHILE  1,907,457 
Colombia - 0.2%   
Bancolombia SA (PN) 121,756 1,443,410 
Grupo Aval Acciones y Valores SA 968,403 425,773 
Grupo de Inversiones Suramerica SA (a) 34,647 450,209 
TOTAL COLOMBIA  2,319,392 
Korea (South) - 0.8%   
AMOREPACIFIC Corp. 3,226 537,704 
Hyundai Motor Co. 6,466 621,890 
Hyundai Motor Co. Series 2 11,881 1,275,827 
LG Chemical Ltd. 2,763 531,483 
LG Household & Health Care Ltd. 751 539,972 
Samsung Electronics Co. Ltd. 5,066 10,000,284 
TOTAL KOREA (SOUTH)  13,507,160 
Russia - 0.1%   
AK Transneft OAO 131 358,743 
Surgutneftegas OJSC 1,996,940 982,733 
TOTAL RUSSIA  1,341,476 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $48,849,127)  62,276,370 
 Principal Amount(e) Value 
Nonconvertible Bonds - 0.0%   
India - 0.0%   
NTPC Ltd. 8.49% 3/25/25
(Cost $52,909) 
INR264,162 54,701 
 Shares Value 
Money Market Funds - 5.1%   
Fidelity Cash Central Fund, 1.74% (f) 34,382,969 34,389,846 
Fidelity Securities Lending Cash Central Fund 1.74% (f)(g) 50,285,443 50,290,472 
TOTAL MONEY MARKET FUNDS   
(Cost $84,680,318)  84,680,318 
TOTAL INVESTMENT IN SECURITIES - 102.6%   
(Cost $1,385,305,946)  1,697,757,926 
NET OTHER ASSETS (LIABILITIES) - (2.6)%(h)  (42,543,566) 
NET ASSETS - 100%  $1,655,214,360 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 740 June 2018 $42,631,400 $(532,826) $(532,826) 

The notional amount of futures purchased as a percentage of Net Assets is 2.6%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $35,935,526.

Currency Abbreviations

INR – Indian rupee

Security Type Abbreviations

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

Legend

 (a) Non-income producing

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

 (c) Level 3 security

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $9,031,011 or 0.5% of net assets.

 (e) Amount is stated in United States dollars unless otherwise noted.

 (f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (g) Investment made with cash collateral received from securities on loan.

 (h) Includes $1,882,400 of cash collateral to cover margin requirements for futures contracts.


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 $243,379 
Fidelity Securities Lending Cash Central Fund 86,477 
Total $329,856 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $153,011,031 $67,009,554 $86,001,477 $-- 
Consumer Staples 106,051,661 52,179,111 53,848,790 23,760 
Energy 118,526,358 55,547,069 62,979,289 -- 
Financials 384,556,199 116,680,633 267,875,566 -- 
Health Care 43,935,411 15,410,502 28,524,909 -- 
Industrials 85,624,704 37,980,227 46,836,471 808,006 
Information Technology 440,744,014 212,412,973 227,850,446 480,595 
Materials 122,178,557 56,155,639 65,994,893 28,025 
Real Estate 46,111,852 7,150,606 38,961,246 -- 
Telecommunication Services 74,524,836 20,582,749 53,942,087 -- 
Utilities 37,758,284 13,399,581 24,358,703 -- 
Corporate Bonds 54,701 -- 54,701 -- 
Money Market Funds 84,680,318 84,680,318 -- -- 
Total Investments in Securities: $1,697,757,926 $739,188,962 $957,228,578 $1,340,386 
Derivative Instruments:     
Liabilities     
Futures Contracts $(532,826) $(532,826) $-- $-- 
Total Liabilities $(532,826) $(532,826) $-- $-- 
Total Derivative Instruments: $(532,826) $(532,826) $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $577,806,058 
Level 2 to Level 1 $486,077 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $0 $(532,826) 
Total Equity Risk (532,826) 
Total Value of Derivatives $0 $(532,826) 

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


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


Fidelity® Emerging Markets Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $49,185,062) — See accompanying schedule:
Unaffiliated issuers (cost $1,300,625,628) 
$1,613,077,608  
Fidelity Central Funds (cost $84,680,318) 84,680,318  
Total Investment in Securities (cost $1,385,305,946)  $1,697,757,926 
Segregated cash with brokers for derivative instruments  1,882,400 
Foreign currency held at value (cost $4,953,297)  4,912,576 
Receivable for investments sold  1,017,471 
Receivable for fund shares sold  2,022,273 
Dividends receivable  1,344,361 
Distributions receivable from Fidelity Central Funds  59,222 
Other receivables  3,475 
Total assets  1,708,999,704 
Liabilities   
Payable for fund shares redeemed $1,260,387  
Accrued management fee 110,053  
Payable for daily variation margin on futures contracts 340,875  
Other affiliated payables 57,322  
Other payables and accrued expenses 1,719,271  
Collateral on securities loaned 50,297,436  
Total liabilities  53,785,344 
Net Assets  $1,655,214,360 
Net Assets consist of:   
Paid in capital  $1,406,780,234 
Undistributed net investment income  6,562,857 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (68,277,013) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  310,148,282 
Net Assets  $1,655,214,360 
Investor Class:   
Net Asset Value, offering price and redemption price per share ($40,155,481 ÷ 3,504,244 shares)  $11.46 
Premium Class:   
Net Asset Value, offering price and redemption price per share ($1,082,044,875 ÷ 94,406,061 shares)  $11.46 
Institutional Class:   
Net Asset Value, offering price and redemption price per share ($312,687,699 ÷ 27,249,879 shares)  $11.47 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($220,326,305 ÷ 19,204,709 shares)  $11.47 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $13,161,142 
Interest  9,188 
Income from Fidelity Central Funds  329,856 
Income before foreign taxes withheld  13,500,186 
Less foreign taxes withheld  (1,523,810) 
Total income  11,976,376 
Expenses   
Management fee $626,975  
Transfer agent fees 327,070  
Independent trustees' fees and expenses 2,987  
Miscellaneous 2,155  
Total expenses before reductions 959,187  
Expense reductions (3,980) 955,207 
Net investment income (loss)  11,021,169 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $1,849) (1,769,646)  
Fidelity Central Funds (2,876)  
Foreign currency transactions (30,291)  
Futures contracts 3,028,936  
Total net realized gain (loss)  1,226,123 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of decrease in deferred foreign taxes of $110,883) 45,296,625  
Fidelity Central Funds (249)  
Assets and liabilities in foreign currencies (21,582)  
Futures contracts (1,080,975)  
Total change in net unrealized appreciation (depreciation)  44,193,819 
Net gain (loss)  45,419,942 
Net increase (decrease) in net assets resulting from operations  $56,441,111 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $11,021,169 $24,352,616 
Net realized gain (loss) 1,226,123 1,339,665 
Change in net unrealized appreciation (depreciation) 44,193,819 230,671,077 
Net increase (decrease) in net assets resulting from operations 56,441,111 256,363,358 
Distributions to shareholders from net investment income (24,959,275) (12,638,479) 
Distributions to shareholders from net realized gain (1,777,378) – 
Total distributions (26,736,653) (12,638,479) 
Share transactions - net increase (decrease) 233,296,378 363,360,248 
Redemption fees 26,623 185,042 
Total increase (decrease) in net assets 263,027,459 607,270,169 
Net Assets   
Beginning of period 1,392,186,901 784,916,732 
End of period $1,655,214,360 $1,392,186,901 
Other Information   
Undistributed net investment income end of period $6,562,857 $20,500,963 

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


Financial Highlights

Fidelity Emerging Markets Index Fund Investor Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $11.20 $9.02 $8.41 $10.16 $10.04 $9.76 
Income from Investment Operations       
Net investment income (loss)A .07 .21 .17 .24 .25 .26 
Net realized and unrealized gain (loss) .38 2.10 .61 (1.82) .06 .19 
Total from investment operations .45 2.31 .78 (1.58) .31 .45 
Distributions from net investment income (.18) (.13) (.17) (.17) (.19) (.12) 
Distributions from net realized gain (.01) – – – – (.06) 
Total distributions (.19) (.13) (.17) (.17) (.19) (.19)B 
Redemption fees added to paid in capitalA C C C C C .02 
Net asset value, end of period $11.46 $11.20 $9.02 $8.41 $10.16 $10.04 
Total ReturnD,E 4.12% 25.97% 9.76% (15.68)% 3.18% 4.78% 
Ratios to Average Net AssetsF,G       
Expenses before reductions .29%H .30% .41% .46% .46% .47% 
Expenses net of fee waivers, if any .29%H .30% .31% .31% .31% .32% 
Expenses net of all reductions .29%H .30% .31% .31% .31% .32% 
Net investment income (loss) 1.24%H 2.15% 2.05% 2.55% 2.50% 2.56% 
Supplemental Data       
Net assets, end of period (000 omitted) $40,155 $32,614 $19,862 $23,983 $16,792 $10,259 
Portfolio turnover rateI 2%H 4% 25% 1% 8% 33% 

 A Calculated based on average shares outstanding during the period.

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

 C Amount represents less than $.005 per share.

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

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

 F 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.

 G 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.

 H Annualized

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


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


Fidelity Emerging Markets Index Fund Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $11.21 $9.03 $8.42 $10.17 $10.05 $9.77 
Income from Investment Operations       
Net investment income (loss)A .08 .23 .18 .25 .26 .26 
Net realized and unrealized gain (loss) .38 2.09 .61 (1.82) .06 .21 
Total from investment operations .46 2.32 .79 (1.57) .32 .47 
Distributions from net investment income (.20) (.14) (.18) (.18) (.20) (.14) 
Distributions from net realized gain (.01) – – – – (.06) 
Total distributions (.21) (.14) (.18) (.18) (.20) (.20) 
Redemption fees added to paid in capitalA B B B B B .01 
Net asset value, end of period $11.46 $11.21 $9.03 $8.42 $10.17 $10.05 
Total ReturnC,D 4.19% 26.14% 9.87% (15.57)% 3.30% 4.93% 
Ratios to Average Net AssetsE,F       
Expenses before reductions .13%G .14% .27% .35% .35% .35% 
Expenses net of fee waivers, if any .13%G .14% .18% .20% .20% .20% 
Expenses net of all reductions .13%G .14% .18% .20% .20% .20% 
Net investment income (loss) 1.40%G 2.31% 2.18% 2.66% 2.61% 2.68% 
Supplemental Data       
Net assets, end of period (000 omitted) $1,082,045 $913,578 $583,548 $443,052 $323,342 $210,071 
Portfolio turnover rateH 2%G 4% 25% 1% 8% 33% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

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

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

 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 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.

 G Annualized

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


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


Fidelity Emerging Markets Index Fund Institutional Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $11.23 $9.04 $8.43 $10.18 $10.06 $9.79 
Income from Investment Operations       
Net investment income (loss)A .08 .23 .18 .25 .26 .27 
Net realized and unrealized gain (loss) .37 2.10 .62 (1.81) .06 .20 
Total from investment operations .45 2.33 .80 (1.56) .32 .47 
Distributions from net investment income (.20) (.14) (.19) (.19) (.20) (.15) 
Distributions from net realized gain (.01) – – – – (.06) 
Total distributions (.21) (.14) (.19) (.19) (.20) (.21) 
Redemption fees added to paid in capitalA B B B B B .01 
Net asset value, end of period $11.47 $11.23 $9.04 $8.43 $10.18 $10.06 
Total ReturnC,D 4.13% 26.26% 9.94% (15.49)% 3.37% 4.91% 
Ratios to Average Net AssetsE,F       
Expenses before reductions .10%G .11% .20% .28% .28% .28% 
Expenses net of fee waivers, if any .10%G .11% .12% .13% .13% .13% 
Expenses net of all reductions .10%G .11% .12% .13% .13% .13% 
Net investment income (loss) 1.43%G 2.34% 2.24% 2.73% 2.68% 2.74% 
Supplemental Data       
Net assets, end of period (000 omitted) $312,688 $253,315 $181,237 $49,626 $21,598 $474 
Portfolio turnover rateH 2%G 4% 25% 1% 8% 33% 

 A Calculated based on average shares outstanding during the period.

 B Amount represents less than $.005 per share.

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

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

 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 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.

 G Annualized

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


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


Fidelity Emerging Markets Index Fund Institutional Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $11.23 $9.04 $8.43 $10.18 $10.06 $9.79 
Income from Investment Operations       
Net investment income (loss)A .08 .24 .19 .26 .27 .26 
Net realized and unrealized gain (loss) .38 2.09 .61 (1.82) .06 .21 
Total from investment operations .46 2.33 .80 (1.56) .33 .47 
Distributions from net investment income (.20) (.14) (.19) (.19) (.21) (.15) 
Distributions from net realized gain (.01) – – – – (.06) 
Total distributions (.22)B (.14) (.19) (.19) (.21) (.21) 
Redemption fees added to paid in capitalA C C C C C .01 
Net asset value, end of period $11.47 $11.23 $9.04 $8.43 $10.18 $10.06 
Total ReturnD,E 4.15% 26.29% 9.98% (15.46)% 3.40% 4.95% 
Ratios to Average Net AssetsF,G       
Expenses before reductions .08%H .09% .19% .25% .25% .24% 
Expenses net of fee waivers, if any .08%H .09% .10% .10% .10% .10% 
Expenses net of all reductions .08%H .09% .10% .10% .10% .10% 
Net investment income (loss) 1.45%H 2.36% 2.26% 2.76% 2.71% 2.78% 
Supplemental Data       
Net assets, end of period (000 omitted) $220,326 $192,681 $269 $243 $111 $7,372 
Portfolio turnover rateI 2%H 4% 25% 1% 8% 33% 

 A Calculated based on average shares outstanding during the period.

 B Total distributions of $.22 per share is comprised of distributions from net investment income of $.201 and distributions from net realized gain of $.014 per share.

 C Amount represents less than $.005 per share.

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

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

 F 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.

 G 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.

 H Annualized

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


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


Fidelity® Global ex U.S. Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 1.2 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.1 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 1.1 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 0.9 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.9 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 0.8 
Novartis AG (Switzerland, Pharmaceuticals) 0.8 
Toyota Motor Corp. (Japan, Automobiles) 0.8 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.7 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
 9.0 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 23.9 
Industrials 11.3 
Information Technology 11.1 
Consumer Discretionary 11.1 
Consumer Staples 8.6 
Materials 7.6 
Health Care 7.3 
Energy 7.3 
Telecommunication Services 4.2 
Real Estate 2.8 

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 16.1% 
   United Kingdom 10.9% 
   France 6.9% 
   Germany 6.4% 
   Canada 6.2% 
   Switzerland 5.0% 
   Cayman Islands 4.3% 
   Australia 4.3% 
   Korea (South) 3.8% 
   Other* 36.1% 


 * 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.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 

Fidelity® Global ex U.S. Index Fund

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.1%   
 Shares Value 
Australia - 4.3%   
AGL Energy Ltd. 128,281 $2,090,653 
Alumina Ltd. 493,311 971,021 
Amcor Ltd. 226,358 2,332,613 
AMP Ltd. 571,093 1,728,795 
APA Group unit 230,040 1,440,099 
Aristocrat Leisure Ltd. 106,534 2,137,133 
ASX Ltd. 37,678 1,656,430 
Aurizon Holdings Ltd. 397,649 1,338,186 
Australia & New Zealand Banking Group Ltd. 577,201 11,603,012 
Bank of Queensland Ltd. 81,576 614,619 
Bendigo & Adelaide Bank Ltd. 95,139 757,232 
BHP Billiton Ltd. 632,312 14,751,365 
BlueScope Steel Ltd. 112,306 1,380,179 
Boral Ltd. 227,511 1,170,838 
Brambles Ltd. 311,144 2,302,211 
Caltex Australia Ltd. 50,577 1,176,157 
Challenger Ltd. 113,126 914,620 
Cimic Group Ltd. 20,079 683,264 
Coca-Cola Amatil Ltd. 106,107 740,639 
Cochlear Ltd. 11,246 1,636,627 
Commonwealth Bank of Australia 344,541 18,551,615 
Computershare Ltd. 92,415 1,175,662 
Crown Ltd. 75,088 728,799 
CSL Ltd. 89,086 11,410,941 
DEXUS Property Group unit 196,924 1,400,435 
Dominos Pizza Enterprises Ltd. 11,598 367,160 
Flight Centre Travel Group Ltd. 10,880 455,781 
Fortescue Metals Group Ltd. 305,603 1,036,870 
Goodman Group unit 357,114 2,429,640 
Harvey Norman Holdings Ltd. (a) 106,263 280,107 
Healthscope Ltd. 351,704 640,782 
Incitec Pivot Ltd. 328,107 933,701 
Insurance Australia Group Ltd. 469,242 2,777,875 
Lendlease Group unit 107,904 1,447,140 
Macquarie Group Ltd. 63,781 5,194,214 
Medibank Private Ltd. 535,921 1,177,825 
Mirvac Group unit 722,208 1,211,995 
National Australia Bank Ltd. 528,059 11,479,499 
Newcrest Mining Ltd. 149,695 2,372,660 
Orica Ltd. 74,747 1,113,664 
Origin Energy Ltd. (b) 342,881 2,503,299 
QBE Insurance Group Ltd. 270,744 2,022,073 
Ramsay Health Care Ltd. 27,635 1,343,495 
realestate.com.au Ltd. 10,281 622,430 
Rio Tinto Ltd. 81,294 4,838,145 
Santos Ltd. (b) 366,012 1,685,784 
Scentre Group unit 1,053,451 3,184,069 
SEEK Ltd. 65,110 947,080 
Sonic Healthcare Ltd. 78,177 1,386,097 
South32 Ltd. 1,012,301 2,809,157 
SP AusNet 368,473 475,656 
Stockland Corp. Ltd. unit 485,564 1,509,332 
Suncorp Group Ltd. 257,089 2,703,987 
Sydney Airport unit 216,194 1,157,521 
Tabcorp Holdings Ltd. 373,162 1,227,086 
Telstra Corp. Ltd. 821,954 1,954,298 
The GPT Group unit 349,642 1,267,841 
TPG Telecom Ltd. 69,604 291,959 
Transurban Group unit 439,005 3,825,361 
Treasury Wine Estates Ltd. 142,345 2,033,255 
Vicinity Centers unit 632,015 1,157,204 
Wesfarmers Ltd. 223,025 7,337,431 
Westfield Corp. unit (b) 392,439 2,711,824 
Westpac Banking Corp. 667,260 14,333,054 
Woodside Petroleum Ltd. 185,389 4,492,626 
Woolworths Group Ltd. 256,669 5,368,432 
TOTAL AUSTRALIA  190,800,554 
Austria - 0.2%   
Andritz AG 14,277 768,255 
Erste Group Bank AG 59,645 2,924,308 
OMV AG 29,306 1,822,581 
Raiffeisen International Bank-Holding AG 29,098 983,885 
Voestalpine AG 22,552 1,190,389 
TOTAL AUSTRIA  7,689,418 
Bailiwick of Jersey - 0.8%   
Experian PLC 182,059 4,171,372 
Glencore Xstrata PLC 2,407,483 11,623,537 
Randgold Resources Ltd. 18,818 1,525,831 
Shire PLC 178,925 9,527,744 
Wolseley PLC 49,546 3,806,117 
WPP PLC 250,373 4,296,433 
TOTAL BAILIWICK OF JERSEY  34,951,034 
Belgium - 0.7%   
Ageas 36,945 1,983,127 
Anheuser-Busch InBev SA NV 149,847 14,968,617 
Colruyt NV 11,687 658,805 
Groupe Bruxelles Lambert SA 15,614 1,790,515 
KBC Groep NV 49,509 4,328,584 
Proximus 29,071 892,749 
Solvay SA Class A 14,571 2,034,091 
Telenet Group Holding NV (b) 10,111 592,920 
UCB SA 24,863 1,884,341 
Umicore SA 40,932 2,286,608 
TOTAL BELGIUM  31,420,357 
Bermuda - 0.4%   
Alibaba Health Information Technology Ltd. (a)(b) 636,000 319,828 
Alibaba Pictures Group Ltd. (b) 2,410,000 271,478 
Beijing Enterprises Water Group Ltd. 1,126,000 653,736 
Brilliance China Automotive Holdings Ltd. 598,000 1,064,749 
Cheung Kong Infrastructure Holdings Ltd. 131,500 1,037,852 
China Gas Holdings Ltd. 349,000 1,236,744 
China Resource Gas Group Ltd. 170,000 625,193 
Cosco Shipping Ports Ltd. 321,734 282,957 
Credicorp Ltd. (United States) 13,438 3,124,201 
GOME Electrical Appliances Holdings Ltd. (a) 2,035,104 218,909 
Haier Electronics Group Co. Ltd. 257,000 889,162 
Hanergy Thin Film Power Group Ltd. (b)(c) 576,000 
Hongkong Land Holdings Ltd. 228,536 1,651,685 
Jardine Matheson Holdings Ltd. 43,276 2,620,523 
Jardine Strategic Holdings Ltd. 42,900 1,623,566 
Kerry Properties Ltd. 122,500 585,614 
Kingston Financial Group Ltd. (a) 766,000 389,423 
Kunlun Energy Co. Ltd. 618,000 529,142 
Li & Fung Ltd. 1,172,000 589,426 
Nine Dragons Paper (Holdings) Ltd. 312,000 465,335 
NWS Holdings Ltd. 308,871 609,036 
Shangri-La Asia Ltd. 254,000 494,313 
Sihuan Pharmaceutical Holdings Group Ltd. 730,000 176,432 
Yue Yuen Industrial (Holdings) Ltd. 146,500 415,176 
TOTAL BERMUDA  19,874,481 
Brazil - 1.1%   
Ambev SA 929,800 6,192,120 
Atacadao Distribuicao Comercio e Industria Ltda 75,400 325,000 
Banco Bradesco SA 199,432 1,816,020 
Banco do Brasil SA 168,800 1,768,372 
Banco Santander SA (Brasil) unit 84,000 913,805 
BB Seguridade Participacoes SA 139,300 1,092,705 
BM&F BOVESPA SA 403,666 2,915,263 
BR Malls Participacoes SA 174,440 543,756 
Brasil Foods SA (b) 85,500 605,275 
CCR SA 247,500 844,970 
Centrais Eletricas Brasileiras SA (Electrobras) (b) 43,400 236,252 
Cielo SA 240,671 1,319,046 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 65,300 655,386 
Companhia Energetica de Minas Gerais (CEMIG) 1,217 2,675 
Companhia Siderurgica Nacional SA (CSN) (b) 118,500 296,994 
Cosan SA Industria e Comercio 31,200 354,286 
Drogasil SA 46,800 918,847 
EDP Energias do Brasil SA 62,881 249,320 
Embraer SA 127,200 803,896 
ENGIE Brasil Energia SA 31,500 332,606 
Equatorial Energia SA 41,100 834,741 
Fibria Celulose SA 47,700 936,925 
Hypermarcas SA 67,100 603,348 
Itausa-Investimentos Itau SA (b) 19,020 73,296 
JBS SA 156,300 390,393 
Klabin SA unit 112,700 682,982 
Kroton Educacional SA 280,452 1,121,584 
Localiza Rent A Car SA 96,567 768,798 
Lojas Renner SA 141,180 1,314,193 
M. Dias Branco SA 19,300 242,407 
Multiplan Empreendimentos Imobiliarios SA 16,022 304,231 
Natura Cosmeticos SA 32,700 300,659 
Odontoprev SA 53,800 230,822 
Petroleo Brasileiro SA - Petrobras (ON) (b) 587,200 4,128,436 
Porto Seguro SA 21,700 279,984 
Qualicorp SA 44,400 308,615 
Rumo SA (b) 209,000 885,947 
Sul America SA unit 39,547 244,064 
Suzano Papel e Celulose SA 84,500 990,400 
Terna Participacoes SA unit 41,700 253,423 
TIM Participacoes SA 162,100 738,038 
Ultrapar Participacoes SA 71,600 1,235,505 
Vale SA 624,845 8,680,979 
Weg SA 141,050 715,879 
TOTAL BRAZIL  48,452,243 
British Virgin Islands - 0.0%   
First Pacific Co. Ltd. 412,852 211,409 
Canada - 6.0%   
Agnico Eagle Mines Ltd. (Canada) 45,482 1,913,932 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 85,362 3,690,521 
AltaGas Ltd. 35,406 682,502 
ARC Resources Ltd. 67,660 754,618 
ATCO Ltd. Class I (non-vtg.) 14,545 440,105 
Bank of Montreal 127,946 9,716,901 
Bank of Nova Scotia 235,953 14,503,221 
Barrick Gold Corp. 227,982 3,068,288 
BCE, Inc. 29,302 1,243,558 
BlackBerry Ltd. (b) 101,161 1,058,923 
Bombardier, Inc. Class B (sub. vtg.) (b) 415,973 1,286,197 
Brookfield Asset Management, Inc. Class A 165,905 6,575,728 
CAE, Inc. 51,470 972,917 
Cameco Corp. 75,730 797,437 
Canadian Imperial Bank of Commerce 85,981 7,488,808 
Canadian National Railway Co. 146,835 11,341,273 
Canadian Natural Resources Ltd. 217,140 7,833,580 
Canadian Pacific Railway Ltd. 28,651 5,227,895 
Canadian Tire Ltd. Class A (non-vtg.) 12,416 1,692,084 
Canadian Utilities Ltd. Class A (non-vtg.) 24,409 621,655 
CCL Industries, Inc. Class B 27,968 1,356,632 
Cenovus Energy, Inc. 205,788 2,061,166 
CGI Group, Inc. Class A (sub. vtg.) (b) 49,624 2,875,521 
CI Financial Corp. 53,776 1,131,685 
Constellation Software, Inc. 3,934 2,811,602 
Crescent Point Energy Corp. 104,267 913,590 
Dollarama, Inc. 20,861 2,401,383 
Element Financial Corp. 74,177 280,197 
Emera, Inc. 10,848 337,873 
Empire Co. Ltd. Class A (non-vtg.) 33,208 642,202 
Enbridge, Inc. 326,085 9,876,900 
Encana Corp. 190,571 2,373,325 
Fairfax Financial Holdings Ltd. (sub. vtg.) 5,468 3,027,235 
Finning International, Inc. 32,164 811,396 
First Capital Realty, Inc. 30,330 474,102 
First Quantum Minerals Ltd. 134,793 1,942,187 
Fortis, Inc. 83,478 2,802,213 
Franco-Nevada Corp. 36,236 2,570,203 
George Weston Ltd. 9,791 802,146 
Gildan Activewear, Inc. 42,954 1,251,201 
Goldcorp, Inc. 169,479 2,249,248 
Great-West Lifeco, Inc. 58,583 1,561,818 
H&R REIT/H&R Finance Trust 27,148 435,992 
Husky Energy, Inc. 71,689 1,002,792 
Hydro One Ltd. (d) 56,956 904,500 
IGM Financial, Inc. 16,112 494,547 
Imperial Oil Ltd. 59,029 1,835,763 
Industrial Alliance Insurance and Financial Services, Inc. 20,365 855,395 
Intact Financial Corp. 27,251 2,077,864 
Inter Pipeline Ltd. 74,401 1,341,472 
Jean Coutu Group, Inc. Class A (sub. vtg.) 10,672 204,388 
Keyera Corp. 40,282 1,084,582 
Kinross Gold Corp. (b) 238,603 923,601 
Linamar Corp. 9,369 525,020 
Loblaw Companies Ltd. 41,601 2,115,772 
Lundin Mining Corp. 125,284 829,405 
Magna International, Inc. Class A (sub. vtg.) 67,241 3,971,249 
Manulife Financial Corp. 389,583 7,351,997 
Methanex Corp. 16,479 993,271 
Metro, Inc. Class A (sub. vtg.) 45,082 1,430,461 
National Bank of Canada 68,335 3,245,507 
Nutrien Ltd. 127,106 5,786,320 
Onex Corp. (sub. vtg.) 16,669 1,234,645 
Open Text Corp. 51,881 1,831,665 
Pembina Pipeline Corp. 98,108 3,124,449 
Power Corp. of Canada (sub. vtg.) 69,513 1,651,810 
Power Financial Corp. 49,587 1,286,454 
PrairieSky Royalty Ltd. 43,469 963,871 
Restaurant Brands International, Inc. 43,757 2,381,169 
Restaurant Brands International, Inc. 292 15,891 
RioCan (REIT) 30,570 555,948 
Rogers Communications, Inc. Class B (non-vtg.) 71,980 3,397,880 
Royal Bank of Canada 286,615 21,796,089 
Saputo, Inc. 42,138 1,366,256 
Seven Generations Energy Ltd. (b) 47,472 677,353 
Shaw Communications, Inc. Class B 83,503 1,716,301 
Shopify, Inc. Class A (b) 17,080 2,288,197 
Smart (REIT) 12,614 282,942 
SNC-Lavalin Group, Inc. 34,674 1,520,152 
Sun Life Financial, Inc. 120,760 4,984,836 
Suncor Energy, Inc. 327,178 12,511,733 
Teck Resources Ltd. Class B (sub. vtg.) 111,262 2,792,924 
TELUS Corp. (b) 39,181 1,402,210 
The Toronto-Dominion Bank 363,570 20,419,045 
Thomson Reuters Corp. 55,906 2,248,083 
Tourmaline Oil Corp. 43,876 825,270 
TransCanada Corp. 172,124 7,298,127 
Turquoise Hill Resources Ltd. (b) 192,503 569,735 
Valeant Pharmaceuticals International, Inc. (Canada) (b) 66,984 1,210,401 
Vermilion Energy, Inc. 24,631 832,576 
West Fraser Timber Co. Ltd. 13,070 885,313 
Wheaton Precious Metals Corp. 86,987 1,805,525 
TOTAL CANADA  266,750,716 
Cayman Islands - 4.3%   
3SBio, Inc. (d) 195,000 418,990 
58.com, Inc. ADR (b) 18,393 1,607,364 
AAC Technology Holdings, Inc. 143,000 2,052,446 
Agile Property Holdings Ltd. 300,000 591,778 
Airtac International Group 25,000 433,018 
Alibaba Group Holding Ltd. sponsored ADR (a)(b) 226,836 40,499,299 
Anta Sports Products Ltd. 217,000 1,238,244 
ASM Pacific Technology Ltd. 58,300 798,904 
Autohome, Inc. ADR Class A 10,185 993,547 
Baidu.com, Inc. sponsored ADR (b) 54,262 13,614,336 
Chailease Holding Co. Ltd. 230,816 840,693 
Cheung Kong Property Holdings Ltd. 512,716 4,426,260 
China Conch Venture Holdings Ltd. 336,000 1,043,131 
China Huishan Dairy Holdings Co. Ltd. (b)(c) 461,000 12,335 
China Medical System Holdings Ltd. 262,000 641,579 
China Mengniu Dairy Co. Ltd. 541,000 1,744,071 
China Resources Land Ltd. 544,634 2,045,497 
China State Construction International Holdings Ltd. 381,250 495,836 
CIFI Holdings Group Co. Ltd. 654,000 514,991 
CK Hutchison Holdings Ltd. 533,216 6,305,203 
Country Garden Holdings Co. Ltd. 1,046,644 2,134,176 
Ctrip.com International Ltd. ADR (b) 77,890 3,185,701 
ENN Energy Holdings Ltd. 152,000 1,421,433 
Evergrande Real Estate Group Ltd. (a)(b) 645,000 2,043,087 
Fullshare Holdings Ltd. (a) 1,317,500 718,426 
GCL-Poly Energy Holdings Ltd. (a)(b) 2,473,000 305,898 
Geely Automobile Holdings Ltd. 962,000 2,530,091 
General Interface Solution Holding Ltd. 34,000 203,165 
Haitian International Holdings Ltd. 122,000 324,679 
Hengan International Group Co. Ltd. 142,500 1,267,301 
JD.com, Inc. sponsored ADR (b) 129,557 4,730,126 
Kingboard Chemical Holdings Ltd. 122,500 498,366 
Kingsoft Corp. Ltd. 150,000 445,406 
Lee & Man Paper Manufacturing Ltd. 303,000 333,748 
Longfor Properties Co. Ltd. 281,500 841,892 
Meitu, Inc. (b)(d) 243,500 256,788 
Melco Crown Entertainment Ltd. sponsored ADR 48,081 1,500,608 
MGM China Holdings Ltd. 191,200 524,341 
Minth Group Ltd. 146,000 693,225 
Momo, Inc. ADR (a)(b) 20,595 718,766 
NetEase, Inc. ADR 15,641 4,020,832 
New Oriental Education & Technology Group, Inc. sponsored ADR 26,247 2,358,030 
Nexteer Auto Group Ltd. 167,000 256,941 
Sands China Ltd. 471,600 2,725,556 
Semiconductor Manufacturing International Corp. (a)(b) 562,100 722,913 
Shenzhou International Group Holdings Ltd. 151,000 1,648,352 
Shimao Property Holdings Ltd. 226,500 599,107 
SINA Corp. (b) 11,556 1,104,060 
Sino Biopharmaceutical Ltd. 876,000 1,844,689 
SOHO China Ltd. 400,000 205,394 
Sunac China Holdings Ltd. 475,000 2,017,671 
Sunny Optical Technology Group Co. Ltd. 139,000 2,268,151 
TAL Education Group ADR 62,431 2,273,737 
Tencent Holdings Ltd. 1,121,700 55,146,042 
Tingyi (Cayman Islands) Holding Corp. 394,000 741,743 
Vipshop Holdings Ltd. ADR (b) 80,337 1,243,617 
Want Want China Holdings Ltd. 1,014,000 896,042 
Weibo Corp. sponsored ADR (a)(b) 9,373 1,073,396 
WH Group Ltd. (d) 1,744,500 1,806,039 
Wharf Real Estate Investment Co. Ltd. 236,000 1,769,469 
Wynn Macau Ltd. 310,000 1,145,562 
YY, Inc. ADR (b) 8,867 854,690 
Zhen Ding Technology Holding Ltd. 96,302 209,179 
TOTAL CAYMAN ISLANDS  191,925,957 
Chile - 0.3%   
AES Gener SA 642,460 180,160 
Aguas Andinas SA 499,124 332,003 
Banco de Chile 4,766,899 787,514 
Banco de Credito e Inversiones 8,330 630,481 
Banco Santander Chile 13,216,569 1,103,248 
Cencosud SA 287,481 854,859 
Colbun SA 1,502,321 373,523 
Compania Cervecerias Unidas SA 28,010 388,010 
Compania de Petroleos de Chile SA (COPEC) 77,588 1,264,967 
CorpBanca SA 29,459,530 301,147 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 28,495 336,304 
Empresas CMPC SA 239,165 981,834 
Enel Chile SA 5,545,139 687,176 
Enersis SA 5,697,714 1,300,509 
LATAM Airlines Group SA 58,201 892,809 
S.A.C.I. Falabella 143,921 1,395,895 
TOTAL CHILE  11,810,439 
China - 2.4%   
Agricultural Bank of China Ltd. (H Shares) 5,105,000 2,878,263 
Air China Ltd. (H Shares) 350,000 461,404 
Aluminum Corp. of China Ltd. (H Shares) (b) 758,000 428,109 
Anhui Conch Cement Co. Ltd. (H Shares) 245,000 1,529,163 
AviChina Industry & Technology Co. Ltd. (H Shares) 399,000 251,571 
Bank Communications Co. Ltd. (H Shares) 1,746,000 1,428,726 
Bank of China Ltd. (H Shares) 15,706,000 8,525,708 
Beijing Capital International Airport Co. Ltd. (H Shares) 322,000 438,555 
BYD Co. Ltd. (H Shares) (a) 129,000 901,848 
CGN Power Co. Ltd. (H Shares) (d) 2,031,000 553,862 
China Cinda Asset Management Co. Ltd. (H Shares) 1,685,000 601,389 
China CITIC Bank Corp. Ltd. (H Shares) 1,774,000 1,268,141 
China Communications Construction Co. Ltd. (H Shares) 901,000 1,038,114 
China Communications Services Corp. Ltd. (H Shares) 464,000 291,309 
China Construction Bank Corp. (H Shares) 16,596,000 17,386,950 
China Everbright Bank Co. Ltd. (H Shares) 486,000 242,873 
China Galaxy Securities Co. Ltd. (H Shares) 634,000 416,434 
China Huarong Asset Management Co. Ltd. 1,919,000 660,920 
China Life Insurance Co. Ltd. (H Shares) 1,472,000 4,174,533 
China Longyuan Power Grid Corp. Ltd. (H Shares) 605,000 594,243 
China Merchants Bank Co. Ltd. (H Shares) 763,751 3,330,260 
China Minsheng Banking Corp. Ltd. (H Shares) 1,167,500 1,092,547 
China Molybdenum Co. Ltd. (H Shares) 714,000 536,548 
China National Building Materials Co. Ltd. (H Shares) 755,000 882,062 
China Oilfield Services Ltd. (H Shares) 350,000 349,194 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 515,000 2,272,529 
China Petroleum & Chemical Corp. (H Shares) 4,988,000 4,857,611 
China Railway Construction Corp. Ltd. (H Shares) 376,000 445,270 
China Railway Group Ltd. (H Shares) 764,000 612,367 
China Shenhua Energy Co. Ltd. (H Shares) 667,500 1,637,283 
China Southern Airlines Ltd. (H Shares) 352,000 379,020 
China Telecom Corp. Ltd. (H Shares) 2,766,000 1,340,769 
China Vanke Co. Ltd. (H Shares) 226,600 936,504 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 481,000 367,952 
CITIC Securities Co. Ltd. (H Shares) 467,500 1,139,640 
CRRC Corp. Ltd. (H Shares) 795,950 703,524 
Dongfeng Motor Group Co. Ltd. (H Shares) 518,000 572,822 
Fuyao Glass Industries Group Co. Ltd. 96,800 332,709 
GF Securities Co. Ltd. (H Shares) 260,200 458,107 
Great Wall Motor Co. Ltd. (H Shares) 592,500 614,542 
Guangzhou Automobile Group Co. Ltd. (H Shares) 402,000 736,350 
Guangzhou R&F Properties Co. Ltd. (H Shares) 184,000 437,478 
Haitong Securities Co. Ltd. (H Shares) 619,200 845,461 
Huaneng Power International, Inc. (H Shares) 810,000 535,329 
Huaneng Renewables Corp. Ltd. (H Shares) 930,000 413,016 
Huatai Securities Co. Ltd. (H Shares) (d) 312,200 632,388 
Industrial & Commercial Bank of China Ltd. (H Shares) 14,543,000 12,767,032 
Jiangsu Expressway Co. Ltd. (H Shares) 234,000 320,843 
Jiangxi Copper Co. Ltd. (H Shares) 236,000 335,520 
New China Life Insurance Co. Ltd. (H Shares) 158,400 738,524 
People's Insurance Co. of China Group (H Shares) 1,335,000 628,498 
PetroChina Co. Ltd. (H Shares) 4,148,000 3,056,534 
PICC Property & Casualty Co. Ltd. (H Shares) 903,289 1,617,040 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 1,027,500 10,040,113 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 388,000 238,441 
Shanghai Electric Group Co. Ltd. (H Shares) (b) 598,000 217,113 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 92,500 501,751 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 177,040 253,221 
Shanghai Pharma Holding Co. Ltd. (H Shares) 168,500 459,950 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 669,000 444,222 
Sinopharm Group Co. Ltd. (H Shares) 238,800 1,006,953 
TravelSky Technology Ltd. (H Shares) 179,000 522,864 
Tsingtao Brewery Co. Ltd. (H Shares) 70,000 362,418 
Weichai Power Co. Ltd. (H Shares) 373,600 432,497 
Yanzhou Coal Mining Co. Ltd. (H Shares) 356,000 445,471 
Zhejiang Expressway Co. Ltd. (H Shares) 272,000 279,322 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 104,400 553,516 
Zijin Mng Group Co. Ltd. (H Shares) 1,090,000 494,423 
ZTE Corp. (H Shares) (c) 137,480 310,663 
TOTAL CHINA  106,560,326 
Colombia - 0.1%   
Bancolombia SA 43,383 512,759 
Cementos Argos SA 86,907 307,227 
Ecopetrol SA 946,145 1,044,178 
Grupo de Inversiones Suramerica SA (b) 48,515 673,245 
Interconexion Electrica SA ESP 73,479 378,780 
Inversiones Argos SA 54,521 388,194 
TOTAL COLOMBIA  3,304,383 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 31,031 793,544 
Komercni Banka A/S 14,472 624,778 
MONETA Money Bank A/S (d) 92,793 334,053 
Telefonica Czech Rep A/S 11,537 157,858 
TOTAL CZECH REPUBLIC  1,910,233 
Denmark - 1.1%   
A.P. Moller - Maersk A/S:   
Series A 725 1,112,230 
Series B 1,283 2,070,368 
Carlsberg A/S Series B 20,870 2,338,771 
Christian Hansen Holding A/S 19,137 1,740,714 
Coloplast A/S Series B 23,545 1,994,583 
Danske Bank A/S 147,366 5,144,924 
DONG Energy A/S (d) 37,062 2,445,490 
DSV de Sammensluttede Vognmaend A/S 37,676 2,994,075 
Genmab A/S (b) 11,397 2,312,761 
H Lundbeck A/S 13,540 787,860 
ISS Holdings A/S 32,694 1,144,611 
Novo Nordisk A/S Series B 366,753 17,247,641 
Novozymes A/S Series B 44,306 2,082,952 
Pandora A/S 21,107 2,351,646 
Tryg A/S 25,269 600,014 
Vestas Wind Systems A/S 42,730 2,764,282 
William Demant Holding A/S (b) 22,904 895,415 
TOTAL DENMARK  50,028,337 
Egypt - 0.0%   
Commercial International Bank SAE 127,815 682,332 
Commercial International Bank SAE sponsored GDR 82,964 425,605 
Eastern Tobacco Co. 23,322 272,123 
Global Telecom Holding (b) 448,175 128,703 
TOTAL EGYPT  1,508,763 
Finland - 0.7%   
Elisa Corp. (A Shares) 27,975 1,240,497 
Fortum Corp. 87,984 2,030,428 
Kone Oyj (B Shares) 67,022 3,339,410 
Metso Corp. 21,364 763,397 
Neste Oyj 25,541 2,155,947 
Nokia Corp. 1,149,111 6,894,916 
Nokian Tyres PLC 23,117 928,210 
Orion Oyj (B Shares) 20,354 618,912 
Sampo Oyj (A Shares) 87,913 4,750,827 
Stora Enso Oyj (R Shares) 109,355 2,170,358 
UPM-Kymmene Corp. 105,674 3,787,522 
Wartsila Corp. 87,955 1,874,685 
TOTAL FINLAND  30,555,109 
France - 6.9%   
Accor SA 36,965 2,092,227 
Aeroports de Paris 5,931 1,306,399 
Air Liquide SA 76,203 9,904,590 
Alstom SA 29,945 1,363,653 
Amundi SA (d) 11,902 1,012,999 
Arkema SA 13,616 1,784,031 
Atos Origin SA 18,489 2,498,427 
AXA SA 381,718 10,916,622 
BIC SA 5,522 563,144 
bioMerieux SA 8,346 661,158 
BNP Paribas SA 220,895 17,066,844 
Bollore SA 172,716 858,899 
Bollore SA (b) 720 3,555 
Bouygues SA 42,135 2,149,774 
Bureau Veritas SA 51,651 1,350,392 
Capgemini SA 31,802 4,378,067 
Carrefour SA 113,340 2,331,570 
Casino Guichard Perrachon SA 10,737 557,019 
CNP Assurances 34,832 893,421 
Compagnie de St. Gobain 98,564 5,177,031 
Credit Agricole SA 224,923 3,703,498 
Danone SA 118,807 9,624,058 
Dassault Aviation SA 482 963,315 
Dassault Systemes SA 25,679 3,325,818 
Edenred SA 43,657 1,502,526 
EDF SA 106,715 1,501,324 
EDF SA (b) 5,248 73,832 
Eiffage SA 14,365 1,712,166 
ENGIE 358,032 6,290,830 
Essilor International SA 40,862 5,578,447 
Eurazeo SA 8,505 747,702 
Eutelsat Communications 33,735 730,847 
Faurecia SA 14,719 1,205,122 
Fonciere des Regions 6,377 713,485 
Gecina SA 9,666 1,676,194 
Groupe Eurotunnel SA 91,159 1,286,877 
Hermes International SCA 6,231 4,031,657 
ICADE 6,443 640,730 
Iliad SA 5,134 1,028,860 
Imerys SA 6,800 620,803 
Ingenico SA 11,554 1,010,169 
Ipsen SA 7,570 1,229,536 
JCDecaux SA 14,000 500,768 
Kering SA 14,908 8,634,191 
Klepierre SA 43,861 1,796,625 
L'Oreal SA (b) 5,097 1,223,949 
L'Oreal SA 44,304 10,638,775 
Lagardere S.C.A. (Reg.) 22,496 643,295 
Legrand SA 52,775 4,110,655 
LVMH Moet Hennessy - Louis Vuitton SA 54,791 19,067,934 
Michelin CGDE Series B 33,809 4,758,474 
Natixis SA 188,987 1,554,639 
Orange SA 391,228 7,112,381 
Pernod Ricard SA 41,744 6,933,903 
Peugeot Citroen SA 114,619 2,826,412 
Publicis Groupe SA 41,191 3,084,020 
Remy Cointreau SA 4,508 621,145 
Renault SA 37,924 4,114,405 
Rexel SA 60,090 932,456 
Safran SA 65,617 7,696,229 
Sanofi SA 223,753 17,690,432 
Schneider Electric SA 111,695 10,153,983 
SCOR SE 33,741 1,371,091 
SEB SA 4,463 856,395 
Societe Generale Series A 151,073 8,268,042 
Sodexo SA (b) 1,000 99,028 
Sodexo SA (b) 1,580 156,465 
Sodexo SA 15,372 1,522,265 
SR Teleperformance SA 11,252 1,805,834 
Suez Environnement SA 72,548 1,047,803 
Thales SA 20,710 2,625,987 
Total SA 478,961 30,103,539 
Ubisoft Entertainment SA (b) 15,171 1,449,559 
Unibail-Rodamco 19,704 4,732,736 
Valeo SA 47,543 3,182,973 
Veolia Environnement SA 93,452 2,218,119 
VINCI SA 99,814 9,979,773 
Vivendi SA 204,145 5,396,443 
Wendel SA 5,360 810,387 
TOTAL FRANCE  305,788,728 
Germany - 6.0%   
adidas AG 37,042 9,120,838 
Allianz SE 87,368 20,664,620 
Axel Springer Verlag AG 9,360 766,918 
BASF AG 180,600 18,790,252 
Bayer AG 162,775 19,454,805 
Bayerische Motoren Werke AG (BMW) 65,023 7,260,909 
Beiersdorf AG 19,864 2,252,931 
Brenntag AG 30,686 1,760,921 
Commerzbank AG (b) 207,559 2,684,443 
Continental AG 21,605 5,771,152 
Covestro AG (d) 32,107 2,929,644 
Daimler AG (Germany) 189,149 14,961,270 
Deutsche Bank AG 407,041 5,586,874 
Deutsche Borse AG 37,977 5,107,492 
Deutsche Lufthansa AG 47,019 1,372,376 
Deutsche Post AG 190,803 8,281,699 
Deutsche Telekom AG 654,050 11,448,243 
Deutsche Wohnen AG (Bearer) 69,105 3,266,280 
Drillisch AG 10,526 763,943 
E.ON AG 433,036 4,741,643 
Evonik Industries AG 32,336 1,151,163 
Fraport AG Frankfurt Airport Services Worldwide 8,325 808,283 
Fresenius Medical Care AG & Co. KGaA 42,530 4,315,556 
Fresenius SE & Co. KGaA 81,916 6,265,704 
GEA Group AG 36,602 1,432,541 
Hannover Reuck SE 11,749 1,654,332 
HeidelbergCement Finance AG 29,537 2,898,453 
Henkel AG & Co. KGaA 20,394 2,431,995 
Hochtief AG 3,703 677,916 
Hugo Boss AG 12,566 1,180,592 
Infineon Technologies AG 224,890 5,758,470 
Innogy SE (d) 27,186 1,199,273 
K&S AG 38,615 1,138,274 
KION Group AG 13,966 1,168,768 
Lanxess AG 17,734 1,318,343 
Linde AG 12,494 2,776,901 
Linde AG 24,086 5,200,622 
MAN SE 6,716 774,528 
Merck KGaA 25,215 2,473,119 
Metro Wholesale & Food Specialist AG (a) 34,774 504,547 
MTU Aero Engines Holdings AG 10,277 1,774,702 
Muenchener Rueckversicherungs AG 30,409 6,975,327 
OSRAM Licht AG 19,934 1,149,934 
ProSiebenSat.1 Media AG 46,758 1,696,290 
RWE AG 101,465 2,435,267 
SAP SE 193,104 21,454,951 
Schaeffler AG 34,758 539,992 
Siemens AG 150,287 19,085,680 
Siemens Healthineers AG (b)(d) 28,832 1,124,084 
Symrise AG 24,287 1,967,975 
Telefonica Deutschland Holding AG 139,915 669,256 
Thyssenkrupp AG 85,121 2,220,310 
TUI AG 7,441 168,483 
TUI AG (GB) 80,038 1,813,149 
Uniper SE 39,309 1,218,543 
United Internet AG 24,549 1,594,328 
Volkswagen AG 6,321 1,286,951 
Vonovia SE 95,742 4,810,867 
Wirecard AG 22,888 3,126,033 
Zalando SE (b)(d) 22,077 1,139,723 
TOTAL GERMANY  268,368,478 
Greece - 0.1%   
Alpha Bank AE (b) 266,250 704,136 
EFG Eurobank Ergasias SA (b) 356,217 451,246 
Ff Group (b) 6,325 119,918 
Greek Organization of Football Prognostics SA 43,296 519,183 
Hellenic Telecommunications Organization SA 47,258 687,679 
Jumbo SA 19,439 355,874 
National Bank of Greece SA (b) 1,055,656 441,084 
Piraeus Bank SA (b) 54,301 230,295 
Titan Cement Co. SA (Reg.) 8,915 235,232 
TOTAL GREECE  3,744,647 
Hong Kong - 2.5%   
AIA Group Ltd. 2,376,600 21,240,150 
Bank of East Asia Ltd. 249,816 1,096,960 
Beijing Enterprises Holdings Ltd. 96,500 482,007 
BOC Hong Kong (Holdings) Ltd. 732,000 3,784,093 
BYD Electronic International Co. Ltd. 129,500 197,463 
China Everbright International Ltd. 524,000 734,992 
China Everbright Ltd. 176,000 387,300 
China Jinmao Holdings Group Ltd. 994,000 562,680 
China Merchants Holdings International Co. Ltd. 251,123 561,101 
China Mobile Ltd. 1,213,000 11,555,640 
China Overseas Land and Investment Ltd. 752,000 2,519,675 
China Resources Beer Holdings Co. Ltd. 323,162 1,391,836 
China Resources Pharmaceutical Group Ltd. 362,000 500,450 
China Resources Power Holdings Co. Ltd. 370,523 710,705 
China Taiping Insurance Group Ltd. 326,377 1,091,461 
China Unicom Ltd. 1,210,000 1,710,999 
CITIC Pacific Ltd. 1,153,000 1,758,326 
CLP Holdings Ltd. 324,500 3,369,634 
CNOOC Ltd. 3,555,000 6,014,042 
CSPC Pharmaceutical Group Ltd. 916,000 2,333,106 
Far East Horizon Ltd. 377,000 374,092 
Fosun International Ltd. 522,500 1,110,309 
Galaxy Entertainment Group Ltd. 468,000 4,096,232 
Guangdong Investment Ltd. 598,000 925,604 
Hang Lung Group Ltd. 169,000 510,467 
Hang Lung Properties Ltd. 403,000 953,729 
Hang Seng Bank Ltd. 151,300 3,832,417 
Henderson Land Development Co. Ltd. 232,500 1,474,179 
Hong Kong & China Gas Co. Ltd. 1,639,810 3,426,295 
Hong Kong Exchanges and Clearing Ltd. 232,545 7,533,189 
Hysan Development Co. Ltd. 121,020 704,357 
Lenovo Group Ltd. 1,512,000 717,862 
Link (REIT) 435,547 3,849,421 
MTR Corp. Ltd. 300,107 1,686,229 
New World Development Co. Ltd. 1,196,732 1,755,033 
PCCW Ltd. 846,913 523,521 
Power Assets Holdings Ltd. 271,500 2,020,189 
Shanghai Industrial Holdings Ltd. 98,000 256,985 
Sino Land Ltd. 618,673 1,067,938 
Sino-Ocean Group Holding Ltd. 577,591 401,057 
SJM Holdings Ltd. 369,000 369,601 
Sun Art Retail Group Ltd. 455,372 511,816 
Sun Hung Kai Properties Ltd. 286,781 4,618,449 
Swire Pacific Ltd. (A Shares) 102,000 1,007,894 
Swire Properties Ltd. 237,200 841,939 
Techtronic Industries Co. Ltd. 266,000 1,558,279 
Wharf Holdings Ltd. 247,000 821,734 
Wheelock and Co. Ltd. 160,000 1,187,074 
TOTAL HONG KONG  110,138,511 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 70,395 813,455 
OTP Bank PLC 47,540 2,076,997 
Richter Gedeon PLC 26,699 540,068 
TOTAL HUNGARY  3,430,520 
India - 2.1%   
ACC Ltd. 9,321 222,072 
Adani Ports & Special Economic Zone Ltd. 148,404 907,800 
Ambuja Cements Ltd. 112,932 425,070 
Ashok Leyland Ltd. 222,905 549,284 
Asian Paints Ltd. 57,570 1,038,841 
Aurobindo Pharma Ltd. 50,212 483,993 
Axis Bank Ltd. 356,650 2,764,914 
Bajaj Auto Ltd. 15,971 707,049 
Bajaj Finance Ltd. 34,791 994,639 
Bajaj Finserv Ltd. 7,248 596,271 
Bharat Forge Ltd. 39,863 462,930 
Bharat Heavy Electricals Ltd. 183,714 241,603 
Bharat Petroleum Corp. Ltd. 154,054 895,119 
Bharti Airtel Ltd. 275,011 1,688,814 
Bharti Infratel Ltd. 95,927 451,471 
Bosch Ltd. 1,387 404,080 
Britannia Industries Ltd. 5,450 451,953 
Cadila Healthcare Ltd. (b) 40,609 251,453 
Cipla Ltd. (b) 66,056 601,723 
Coal India Ltd. 130,013 556,517 
Container Corp. of India Ltd. 7,490 146,584 
Dabur India Ltd. 110,192 611,047 
Dr. Reddy's Laboratories Ltd. 23,659 751,816 
Eicher Motors Ltd. 2,650 1,238,150 
GAIL India Ltd. 128,791 628,748 
Glenmark Pharmaceuticals Ltd. 28,576 245,435 
Godrej Consumer Products Ltd. 47,761 800,341 
Grasim Industries Ltd. 65,556 1,074,877 
Havells India Ltd. 47,522 389,754 
HCL Technologies Ltd. 109,615 1,732,956 
Hero Motocorp Ltd. 9,476 530,820 
Hindalco Industries Ltd. 234,673 825,647 
Hindustan Petroleum Corp. Ltd. 116,307 531,027 
Hindustan Unilever Ltd. 126,761 2,868,424 
Housing Development Finance Corp. Ltd. 297,848 8,427,020 
ICICI Bank Ltd. 464,678 1,985,891 
Idea Cellular Ltd. (b) 380,671 394,860 
IDFC Bank Ltd. 285,469 206,784 
Indiabulls Housing Finance Ltd. 63,545 1,244,133 
Indian Oil Corp. Ltd. 222,183 540,159 
Infosys Ltd. 341,028 6,140,529 
Infosys Ltd. sponsored ADR 2,307 40,765 
ITC Ltd. 678,699 2,868,186 
JSW Steel Ltd. 173,319 842,728 
Larsen & Toubro Ltd. 93,349 1,962,352 
LIC Housing Finance Ltd. 56,246 460,501 
Lupin Ltd. (b) 42,230 514,362 
Mahindra & Mahindra Financial Services Ltd. (b) 55,323 437,983 
Mahindra & Mahindra Ltd. 146,810 1,922,523 
Marico Ltd. 94,585 471,881 
Maruti Suzuki India Ltd. 20,600 2,723,380 
Motherson Sumi Systems Ltd. 120,795 640,007 
Nestle India Ltd. 4,412 623,394 
NTPC Ltd. 315,147 814,845 
Oil & Natural Gas Corp. Ltd. 244,591 662,934 
Petronet LNG Ltd. 114,189 388,779 
Piramal Enterprises Ltd. (b) 15,536 605,925 
Power Finance Corp. Ltd. 139,249 183,450 
Reliance Industries Ltd. 560,658 8,095,004 
Rural Electrification Corp. Ltd. 131,108 250,722 
Shree Cement Ltd. 1,588 403,924 
Shriram Transport Finance Co. Ltd. 28,146 679,458 
Siemens India Ltd. 14,569 245,452 
State Bank of India 342,349 1,264,941 
Sun Pharmaceutical Industries Ltd. 189,321 1,501,930 
Tata Consultancy Services Ltd. 90,433 4,795,934 
Tata Motors Ltd. (b) 302,076 1,534,101 
Tata Motors Ltd. Class A (b) 91,368 261,844 
Tata Power Co. Ltd. 210,949 279,319 
Tata Steel Ltd. 72,644 646,197 
Tech Mahindra Ltd. 95,385 958,745 
Titan Co. Ltd. (b) 59,427 875,545 
Ultratech Cemco Ltd. 17,474 1,077,326 
United Spirits Ltd. (b) 11,115 604,074 
UPL Ltd. (b) 73,125 800,612 
Vakrangee Ltd. 84,460 126,601 
Vedanta Ltd. 292,384 1,303,891 
Wipro Ltd. 229,444 956,240 
Yes Bank Ltd. 334,856 1,815,936 
Zee Entertainment Enterprises Ltd. (b) 105,408 930,945 
TOTAL INDIA  91,583,334 
Indonesia - 0.5%   
PT Adaro Energy Tbk 2,745,700 359,553 
PT AKR Corporindo Tbk 334,100 116,988 
PT Astra International Tbk 3,953,900 2,023,713 
PT Bank Central Asia Tbk 1,948,300 3,080,813 
PT Bank Danamon Indonesia Tbk Series A 641,100 305,601 
PT Bank Mandiri (Persero) Tbk 3,654,300 1,851,103 
PT Bank Negara Indonesia (Persero) Tbk 1,426,900 821,489 
PT Bank Rakyat Indonesia Tbk 11,016,600 2,540,081 
PT Bank Tabungan Negara Tbk 811,400 180,827 
PT Bumi Serpong Damai Tbk 1,483,600 179,151 
PT Charoen Pokphand Indonesia Tbk 1,405,800 370,607 
PT Gudang Garam Tbk 92,100 457,541 
PT Hanjaya Mandala Sampoerna Tbk 1,781,100 451,321 
PT Indocement Tunggal Prakarsa Tbk 351,800 445,207 
PT Indofood CBP Sukses Makmur Tbk 446,400 277,332 
PT Indofood Sukses Makmur Tbk 832,700 416,326 
PT Jasa Marga Tbk 504,596 157,743 
PT Kalbe Farma Tbk 4,035,000 435,597 
PT Matahari Department Store Tbk 472,100 349,554 
PT Pakuwon Jati Tbk 4,737,400 200,249 
PT Perusahaan Gas Negara Tbk Series B 2,078,500 294,220 
PT Semen Gresik (Persero) Tbk 564,700 390,030 
PT Surya Citra Media Tbk 1,168,600 213,903 
PT Telkomunikasi Indonesia Tbk Series B 10,008,400 2,731,038 
PT Tower Bersama Infrastructure Tbk 366,700 146,047 
PT Unilever Indonesia Tbk 305,200 1,014,380 
PT United Tractors Tbk 320,900 782,959 
PT Waskita Karya Persero Tbk 895,000 141,381 
PT XL Axiata Tbk (b) 698,000 105,793 
TOTAL INDONESIA  20,840,547 
Ireland - 0.4%   
AIB Group PLC 161,039 961,074 
Bank Ireland Group PLC 177,407 1,596,063 
CRH PLC 164,619 5,845,854 
CRH PLC sponsored ADR (a) 769 27,192 
DCC PLC (United Kingdom) 17,791 1,714,501 
James Hardie Industries PLC CDI 85,638 1,512,319 
Kerry Group PLC Class A 31,446 3,208,819 
Paddy Power Betfair PLC (Ireland) 16,037 1,587,067 
Ryanair Holdings PLC (b) 12,173 226,901 
Ryanair Holdings PLC sponsored ADR (b) 3,659 402,380 
TOTAL IRELAND  17,082,170 
Isle of Man - 0.1%   
Gaming VC Holdings SA 104,755 1,287,130 
Genting Singapore PLC 1,202,600 1,053,617 
NEPI Rockcastle PLC 71,842 791,752 
TOTAL ISLE OF MAN  3,132,499 
Israel - 0.3%   
Azrieli Group 7,854 360,298 
Bank Hapoalim BM (Reg.) 208,704 1,430,039 
Bank Leumi le-Israel BM 289,424 1,712,925 
Bezeq The Israel Telecommunication Corp. Ltd. 399,405 504,063 
Check Point Software Technologies Ltd. (a)(b) 25,535 2,464,383 
Elbit Systems Ltd. (Israel) 4,554 527,026 
Frutarom Industries Ltd. 7,476 717,698 
Israel Chemicals Ltd. 132,964 597,774 
Mizrahi Tefahot Bank Ltd. 27,878 510,549 
NICE Systems Ltd. (b) 11,359 1,077,526 
NICE Systems Ltd. sponsored ADR (b) 976 92,886 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 181,281 3,259,432 
TOTAL ISRAEL  13,254,599 
Italy - 1.4%   
Assicurazioni Generali SpA 245,107 4,954,893 
Atlantia SpA 89,963 2,987,581 
Davide Campari-Milano SpA 115,159 864,991 
Enel SpA 1,594,614 10,115,789 
Eni SpA 500,679 9,787,481 
Intesa Sanpaolo SpA 2,656,441 10,104,989 
Intesa Sanpaolo SpA (Risparmio Shares) 176,849 701,768 
Leonardo SpA 80,130 929,912 
Luxottica Group SpA 33,668 2,104,431 
Mediobanca SpA 124,413 1,512,177 
Poste Italiane SpA (d) 104,095 1,018,966 
Prysmian SpA 40,213 1,183,923 
Recordati SpA 20,700 741,171 
Snam Rete Gas SpA 446,970 2,150,947 
Telecom Italia SpA (a)(b) 2,211,713 2,185,301 
Terna SpA 273,770 1,645,419 
UniCredit SpA 394,130 8,554,750 
Unipolsai SpA 184,848 497,786 
TOTAL ITALY  62,042,275 
Japan - 16.1%   
ABC-MART, Inc. 6,200 408,910 
ACOM Co. Ltd. 75,900 344,369 
AEON Co. Ltd. 119,700 2,395,204 
AEON Financial Service Co. Ltd. 22,300 523,434 
AEON MALL Co. Ltd. 23,770 482,271 
Air Water, Inc. 30,100 582,066 
Aisin Seiki Co. Ltd. 34,800 1,890,889 
Ajinomoto Co., Inc. 107,600 1,974,438 
Alfresa Holdings Corp. 38,200 844,230 
All Nippon Airways Ltd. 23,100 917,069 
Alps Electric Co. Ltd. 40,300 895,064 
Amada Holdings Co. Ltd. 67,200 809,572 
Aozora Bank Ltd. 23,400 947,173 
Asahi Glass Co. Ltd. 40,100 1,665,331 
Asahi Group Holdings 76,400 3,868,921 
Asahi Kasei Corp. 249,900 3,446,069 
Asics Corp. 32,100 608,408 
Astellas Pharma, Inc. 407,900 5,966,041 
Bandai Namco Holdings, Inc. 39,000 1,325,329 
Bank of Kyoto Ltd. 11,900 716,264 
Benesse Holdings, Inc. 13,900 507,327 
Bridgestone Corp. 128,000 5,373,143 
Brother Industries Ltd. 46,800 1,008,606 
Calbee, Inc. 16,000 540,066 
Canon, Inc. 209,900 7,220,391 
Casio Computer Co. Ltd. 38,400 573,611 
Central Japan Railway Co. 28,200 5,667,344 
Chiba Bank Ltd. 141,300 1,142,602 
Chubu Electric Power Co., Inc. 125,200 1,962,406 
Chugai Pharmaceutical Co. Ltd. 43,800 2,315,807 
Chugoku Electric Power Co., Inc. 55,100 690,514 
Coca-Cola West Co. Ltd. 24,300 1,046,954 
Concordia Financial Group Ltd. 238,900 1,392,054 
Credit Saison Co. Ltd. 30,400 545,876 
CYBERDYNE, Inc. (a)(b) 18,100 231,962 
Dai Nippon Printing Co. Ltd. 49,800 1,074,171 
Dai-ichi Mutual Life Insurance Co. 212,800 4,231,862 
Daicel Chemical Industries Ltd. 54,000 625,357 
Daifuku Co. Ltd. 19,100 1,027,333 
Daiichi Sankyo Kabushiki Kaisha 112,200 3,848,793 
Daikin Industries Ltd. 49,100 5,751,239 
Dainippon Sumitomo Pharma Co. Ltd. 31,900 582,149 
Daito Trust Construction Co. Ltd. 13,600 2,271,021 
Daiwa House Industry Co. Ltd. 111,900 4,104,638 
Daiwa House REIT Investment Corp. 348 830,845 
Daiwa Securities Group, Inc. 317,000 1,950,658 
DeNA Co. Ltd. 19,200 366,191 
DENSO Corp. 93,800 4,938,829 
Dentsu, Inc. 43,000 2,037,505 
Disco Corp. 5,600 987,633 
Don Quijote Holdings Co. Ltd. 23,400 1,262,898 
East Japan Railway Co. 64,200 6,160,428 
Eisai Co. Ltd. 52,900 3,554,249 
Electric Power Development Co. Ltd. 29,800 811,786 
FamilyMart Co. Ltd. 15,900 1,546,076 
Fanuc Corp. 38,200 8,182,846 
Fast Retailing Co. Ltd. 10,500 4,630,488 
Fuji Electric Co. Ltd. 108,000 774,533 
Fujifilm Holdings Corp. 81,500 3,284,006 
Fujitsu Ltd. 383,000 2,332,965 
Fukuoka Financial Group, Inc. 155,000 830,864 
Hakuhodo DY Holdings, Inc. 46,800 655,423 
Hamamatsu Photonics K.K. 27,500 1,061,562 
Hankyu Hanshin Holdings, Inc. 48,100 1,898,568 
Hikari Tsushin, Inc. 4,200 682,327 
Hino Motors Ltd. 50,000 611,508 
Hirose Electric Co. Ltd. 6,383 900,346 
Hisamitsu Pharmaceutical Co., Inc. 11,900 928,531 
Hitachi Chemical Co. Ltd. 20,000 440,176 
Hitachi Construction Machinery Co. Ltd. 21,100 769,150 
Hitachi High-Technologies Corp. 13,600 635,712 
Hitachi Ltd. 953,000 6,987,969 
Hitachi Metals Ltd. 43,300 497,483 
Honda Motor Co. Ltd. 339,000 11,656,840 
Hoshizaki Corp. 10,800 1,004,720 
Hoya Corp. 76,000 4,075,302 
Hulic Co. Ltd. 57,300 616,924 
Idemitsu Kosan Co. Ltd. 26,700 1,046,556 
IHI Corp. 29,800 978,613 
Iida Group Holdings Co. Ltd. 28,800 564,040 
INPEX Corp. 185,900 2,384,968 
Isetan Mitsukoshi Holdings Ltd. 63,700 709,720 
Isuzu Motors Ltd. 110,100 1,685,944 
Itochu Corp. 295,100 5,922,516 
J. Front Retailing Co. Ltd. 48,500 787,482 
Japan Airlines Co. Ltd. 22,500 887,075 
Japan Airport Terminal Co. Ltd. 8,900 365,949 
Japan Exchange Group, Inc. 103,500 1,921,926 
Japan Post Bank Co. Ltd. 77,600 1,056,246 
Japan Post Holdings Co. Ltd. 308,900 3,758,114 
Japan Prime Realty Investment Corp. 164 595,573 
Japan Real Estate Investment Corp. 243 1,262,569 
Japan Retail Fund Investment Corp. 528 990,121 
Japan Tobacco, Inc. 216,600 5,818,203 
JFE Holdings, Inc. 102,300 2,109,727 
JGC Corp. 42,300 1,038,927 
JSR Corp. 37,000 698,911 
JTEKT Corp. 42,300 686,814 
JX Holdings, Inc. 602,300 3,935,996 
Kajima Corp. 181,000 1,746,753 
Kakaku.com, Inc. 26,100 499,223 
Kamigumi Co. Ltd. 23,400 528,705 
Kaneka Corp. 57,000 563,639 
Kansai Electric Power Co., Inc. 140,600 1,967,783 
Kansai Paint Co. Ltd. 40,700 917,351 
Kao Corp. 97,500 7,005,694 
Kawasaki Heavy Industries Ltd. 29,700 997,064 
KDDI Corp. 355,800 9,550,955 
Keihan Electric Railway Co., Ltd. 20,000 647,640 
Keihin Electric Express Railway Co. Ltd. 44,800 822,481 
Keio Corp. 23,100 1,058,644 
Keisei Electric Railway Co. 27,600 901,317 
Keyence Corp. 19,120 11,713,011 
Kikkoman Corp. 29,500 1,280,438 
Kintetsu Group Holdings Co. Ltd. 35,300 1,438,543 
Kirin Holdings Co. Ltd. 171,200 4,812,455 
Kobe Steel Ltd. 61,100 632,686 
Koito Manufacturing Co. Ltd. 21,800 1,465,697 
Komatsu Ltd. 181,900 6,200,741 
Konami Holdings Corp. 17,800 875,997 
Konica Minolta, Inc. 92,000 791,072 
Kose Corp. 6,000 1,111,416 
Kubota Corp. 208,800 3,532,525 
Kuraray Co. Ltd. 69,600 1,160,000 
Kurita Water Industries Ltd. 19,300 626,738 
Kyocera Corp. 63,500 4,064,883 
Kyowa Hakko Kirin Co., Ltd. 50,300 1,092,318 
Kyushu Electric Power Co., Inc. 82,300 1,017,834 
Kyushu Financial Group, Inc. 64,700 318,410 
Kyushu Railway Co. 30,900 992,124 
Lawson, Inc. 9,900 654,748 
LINE Corp. (b) 8,500 307,396 
Lion Corp. 43,300 935,553 
LIXIL Group Corp. 52,200 1,171,301 
M3, Inc. 41,200 1,562,148 
Mabuchi Motor Co. Ltd. 9,500 479,693 
Makita Corp. 44,400 1,998,244 
Marubeni Corp. 323,000 2,435,205 
Marui Group Co. Ltd. 39,500 822,013 
Maruichi Steel Tube Ltd. 10,800 369,978 
Mazda Motor Corp. 111,000 1,544,882 
McDonald's Holdings Co. (Japan) Ltd. 13,300 622,905 
Mebuki Financial Group, Inc. 192,740 749,309 
Medipal Holdings Corp. 33,200 713,988 
Meiji Holdings Co. Ltd. 24,200 1,943,615 
Minebea Mitsumi, Inc. 76,700 1,541,437 
Misumi Group, Inc. 55,900 1,549,369 
Mitsubishi Chemical Holdings Corp. 278,800 2,651,048 
Mitsubishi Corp. 297,400 8,234,813 
Mitsubishi Electric Corp. 381,000 5,856,847 
Mitsubishi Estate Co. Ltd. 247,600 4,524,284 
Mitsubishi Gas Chemical Co., Inc. 34,000 800,549 
Mitsubishi Heavy Industries Ltd. 62,700 2,481,158 
Mitsubishi Materials Corp. 21,400 653,824 
Mitsubishi Motors Corp. of Japan 129,800 968,869 
Mitsubishi Tanabe Pharma Corp. 43,200 823,535 
Mitsubishi UFJ Financial Group, Inc. 2,346,400 15,724,032 
Mitsubishi UFJ Lease & Finance Co. Ltd. 88,100 561,706 
Mitsui & Co. Ltd. 336,500 6,083,903 
Mitsui Chemicals, Inc. 37,000 1,062,752 
Mitsui Fudosan Co. Ltd. 176,300 4,534,097 
Mitsui OSK Lines Ltd. 23,600 700,531 
mixi, Inc. 7,900 260,876 
Mizuho Financial Group, Inc. 4,743,400 8,581,934 
MS&AD Insurance Group Holdings, Inc. 94,000 3,157,409 
Murata Manufacturing Co. Ltd. 37,800 4,772,111 
Nabtesco Corp. 21,500 777,831 
Nagoya Railroad Co. Ltd. 35,800 940,192 
NEC Corp. 50,600 1,390,898 
New Hampshire Foods Ltd. 18,700 818,510 
Nexon Co. Ltd. (b) 76,900 1,120,579 
NGK Insulators Ltd. 50,100 922,075 
NGK Spark Plug Co. Ltd. 30,300 781,614 
Nidec Corp. 47,000 7,369,008 
Nikon Corp. 66,700 1,164,138 
Nintendo Co. Ltd. 22,300 9,369,936 
Nippon Building Fund, Inc. 260 1,462,678 
Nippon Electric Glass Co. Ltd. 15,800 455,992 
Nippon Express Co. Ltd. 15,800 1,195,262 
Nippon Paint Holdings Co. Ltd. 32,100 1,315,478 
Nippon Prologis REIT, Inc. 349 735,224 
Nippon Steel & Sumitomo Metal Corp. 150,570 3,284,938 
Nippon Telegraph & Telephone Corp. 135,800 6,444,414 
Nippon Yusen KK 30,800 657,585 
Nissan Chemical Industries Co. Ltd. 23,700 1,056,874 
Nissan Motor Co. Ltd. 455,700 4,800,023 
Nisshin Seifun Group, Inc. 37,695 825,138 
Nissin Food Holdings Co. Ltd. 11,600 854,190 
Nitori Holdings Co. Ltd. 15,700 2,654,007 
Nitto Denko Corp. 32,200 2,400,567 
NKSJ Holdings, Inc. 70,050 2,941,177 
NOK Corp. 19,800 407,519 
Nomura Holdings, Inc. 717,700 4,133,633 
Nomura Real Estate Holdings, Inc. 24,300 604,166 
Nomura Real Estate Master Fund, Inc. 758 1,058,787 
Nomura Research Institute Ltd. 26,102 1,349,033 
NSK Ltd. 76,100 1,023,299 
NTT Data Corp. 124,400 1,341,636 
NTT DOCOMO, Inc. 267,100 6,900,264 
Obayashi Corp. 126,900 1,464,945 
OBIC Co. Ltd. 12,800 1,073,692 
Odakyu Electric Railway Co. Ltd. 57,900 1,250,475 
Oji Holdings Corp. 168,000 1,183,315 
Olympus Corp. 57,200 2,137,413 
OMRON Corp. 37,600 2,043,030 
Ono Pharmaceutical Co. Ltd. 79,400 1,840,828 
Oracle Corp. Japan 7,900 650,384 
Oriental Land Co. Ltd. 43,000 4,293,313 
ORIX Corp. 261,600 4,604,083 
Osaka Gas Co. Ltd. 73,300 1,578,377 
Otsuka Corp. 20,200 942,371 
Otsuka Holdings Co. Ltd. 77,200 4,047,845 
Panasonic Corp. 433,900 6,424,822 
Park24 Co. Ltd. 22,300 632,364 
Pola Orbis Holdings, Inc. 17,900 782,675 
Rakuten, Inc. 180,000 1,279,184 
Recruit Holdings Co. Ltd. 217,100 5,018,402 
Renesas Electronics Corp. (b) 164,100 1,723,260 
Resona Holdings, Inc. 430,600 2,452,356 
Ricoh Co. Ltd. 137,800 1,350,016 
Rinnai Corp. 6,700 667,426 
ROHM Co. Ltd. 18,800 1,757,556 
Ryohin Keikaku Co. Ltd. 4,600 1,580,040 
Sankyo Co. Ltd. (Gunma) 8,600 302,479 
Santen Pharmaceutical Co. Ltd. 73,900 1,247,215 
SBI Holdings, Inc. Japan 39,330 995,482 
Secom Co. Ltd. 41,600 3,121,142 
Sega Sammy Holdings, Inc. 35,800 588,152 
Seibu Holdings, Inc. 44,500 752,657 
Seiko Epson Corp. 54,400 1,022,613 
Sekisui Chemical Co. Ltd. 78,200 1,387,742 
Sekisui House Ltd. 116,600 2,137,987 
Seven & i Holdings Co. Ltd. 147,900 6,516,595 
Seven Bank Ltd. 110,400 371,636 
Sharp Corp. (a) 30,300 891,095 
Shimadzu Corp. 49,000 1,333,919 
Shimamura Co. Ltd. 4,400 513,172 
SHIMANO, Inc. 14,600 1,941,859 
SHIMIZU Corp. 109,100 1,081,819 
Shin-Etsu Chemical Co. Ltd. 76,600 7,711,151 
Shinsei Bank Ltd. 31,500 492,151 
Shionogi & Co. Ltd. 58,800 3,030,362 
Shiseido Co. Ltd. 74,900 4,872,748 
Shizuoka Bank Ltd. 101,900 1,036,524 
Showa Shell Sekiyu K.K. 35,300 499,534 
SMC Corp. 11,300 4,312,441 
SoftBank Corp. 162,300 12,401,134 
Sohgo Security Services Co., Ltd. 13,700 677,982 
Sony Corp. 248,800 11,620,482 
Sony Financial Holdings, Inc. 34,700 634,516 
Stanley Electric Co. Ltd. 27,500 997,416 
Start Today Co. Ltd. 37,800 1,092,645 
Subaru Corp. 121,300 4,082,169 
Sumco Corp. 45,600 1,127,069 
Sumitomo Chemical Co. Ltd. 309,000 1,777,909 
Sumitomo Corp. 234,800 4,230,137 
Sumitomo Electric Industries Ltd. 147,400 2,264,529 
Sumitomo Heavy Industries Ltd. 23,600 904,537 
Sumitomo Metal Mining Co. Ltd. 49,000 2,105,763 
Sumitomo Mitsui Financial Group, Inc. 264,500 11,023,901 
Sumitomo Mitsui Trust Holdings, Inc. 64,600 2,745,441 
Sumitomo Realty & Development Co. Ltd. 71,000 2,824,543 
Sumitomo Rubber Industries Ltd. 33,700 603,283 
Sundrug Co. Ltd. 14,200 731,303 
Suntory Beverage & Food Ltd. 27,200 1,341,090 
Suzuken Co. Ltd. 13,930 600,167 
Suzuki Motor Corp. 68,000 3,664,362 
Sysmex Corp. 30,600 2,709,550 
T&D Holdings, Inc. 104,900 1,783,837 
Taiheiyo Cement Corp. 23,400 887,239 
Taisei Corp. 39,600 2,140,834 
Taisho Pharmaceutical Holdings Co. Ltd. 6,200 594,932 
Taiyo Nippon Sanso Corp. 25,100 372,643 
Takashimaya Co. Ltd. 61,000 524,515 
Takeda Pharmaceutical Co. Ltd. 140,400 5,912,251 
TDK Corp. 25,300 2,187,020 
Teijin Ltd. 39,100 737,149 
Temp Holdings Co., Ltd. 35,200 838,141 
Terumo Corp. 64,000 3,629,711 
The Hachijuni Bank Ltd. 81,600 432,184 
The Suruga Bank Ltd. 32,800 446,454 
THK Co. Ltd. 24,200 847,841 
Tobu Railway Co. Ltd. 38,300 1,222,713 
Toho Co. Ltd. 21,600 723,161 
Toho Gas Co. Ltd. 15,200 461,617 
Tohoku Electric Power Co., Inc. 89,100 1,150,019 
Tokio Marine Holdings, Inc. 132,300 6,259,199 
Tokyo Electric Power Co., Inc. (b) 286,700 1,366,362 
Tokyo Electron Ltd. 30,900 5,951,331 
Tokyo Gas Co. Ltd. 77,300 2,073,213 
Tokyo Tatemono Co. Ltd. 40,800 622,151 
Tokyu Corp. 103,200 1,737,936 
Tokyu Fudosan Holdings Corp. 100,300 790,876 
Toppan Printing Co. Ltd. 101,000 846,286 
Toray Industries, Inc. 291,400 2,720,095 
Toshiba Corp. (b) 1,288,000 3,452,104 
Tosoh Corp. 57,600 1,023,227 
Toto Ltd. 27,500 1,562,157 
Toyo Seikan Group Holdings Ltd. 33,300 524,844 
Toyo Suisan Kaisha Ltd. 17,000 670,234 
Toyoda Gosei Co. Ltd. 12,200 309,576 
Toyota Industries Corp. 32,300 1,911,645 
Toyota Motor Corp. 513,282 33,657,134 
Toyota Tsusho Corp. 41,000 1,475,805 
Trend Micro, Inc. 23,300 1,398,171 
Tsuruha Holdings, Inc. 7,100 1,021,615 
Unicharm Corp. 79,700 2,241,836 
United Urban Investment Corp. 591 907,151 
USS Co. Ltd. 42,400 892,448 
West Japan Railway Co. 32,100 2,275,659 
Yahoo! Japan Corp. 276,900 1,139,819 
Yakult Honsha Co. Ltd. 21,800 1,555,434 
Yamada Denki Co. Ltd. 121,800 639,528 
Yamaguchi Financial Group, Inc. 40,000 500,549 
Yamaha Corp. 32,700 1,582,355 
Yamaha Motor Co. Ltd. 56,000 1,792,902 
Yamato Holdings Co. Ltd. 67,800 1,747,407 
Yamazaki Baking Co. Ltd. 26,800 587,874 
Yaskawa Electric Corp. 49,500 2,024,012 
Yokogawa Electric Corp. 45,200 998,105 
Yokohama Rubber Co. Ltd. 25,000 591,154 
TOTAL JAPAN  717,025,503 
Korea (South) - 3.6%   
AMOREPACIFIC Corp. 6,312 2,056,996 
AMOREPACIFIC Group, Inc. 5,490 733,077 
BGF Retail Co. Ltd. 1,685 300,521 
BGFretail Co. Ltd. 2,286 27,109 
BS Financial Group, Inc. 49,660 484,578 
Celltrion Healthcare Co. Ltd. 6,701 561,897 
Celltrion, Inc. 16,035 4,057,693 
Cheil Industries, Inc. 14,899 1,947,718 
Cheil Worldwide, Inc. 14,313 255,273 
CJ CheilJedang Corp. 1,663 532,632 
CJ Corp. 2,787 422,894 
CJ E&M Corp. 3,627 306,505 
Coway Co. Ltd. 10,667 871,548 
Daelim Industrial Co. 5,272 423,365 
Daewoo Engineering & Construction Co. Ltd. (b) 34,104 202,218 
Db Insurance Co. Ltd. 9,439 554,393 
DGB Financial Group Co. Ltd. 32,192 360,720 
Dong Suh Companies, Inc. 8,055 207,218 
Doosan Bobcat, Inc. 6,913 210,438 
Doosan Heavy Industries & Construction Co. Ltd. 11,852 198,101 
E-Mart Co. Ltd. 4,219 1,063,688 
GS Engineering & Construction Corp. 9,428 359,187 
GS Holdings Corp. 9,752 558,207 
GS Retail Co. Ltd. 5,894 204,736 
Hana Financial Group, Inc. 57,887 2,581,044 
Hankook Tire Co. Ltd. 14,136 652,730 
Hanmi Pharm Co. Ltd. 1,201 522,601 
Hanmi Science Co. Ltd. 2,543 184,743 
Hanon Systems 35,715 363,511 
Hanssem Co. Ltd. 2,000 217,569 
Hanwha Chemical Corp. 20,439 552,521 
Hanwha Corp. 8,590 320,443 
Hanwha Life Insurance Co. Ltd. 49,540 288,194 
Hanwha Techwin Co. Ltd. (b) 7,578 170,535 
Hotel Shilla Co. 6,005 650,447 
Hyosung Corp. 4,011 492,515 
Hyundai Department Store Co. Ltd. 2,962 286,264 
Hyundai Engineering & Construction Co. Ltd. 14,767 876,981 
Hyundai Fire & Marine Insurance Co. Ltd. 11,954 426,958 
Hyundai Glovis Co. Ltd. 3,597 565,954 
Hyundai Heavy Industries Co. Ltd. (b) 7,836 874,386 
Hyundai Industrial Development & Construction Co. (c) 11,424 494,968 
Hyundai Mobis 13,313 3,082,965 
Hyundai Motor Co. 30,080 4,494,059 
Hyundai Robotics Co. Ltd. 1,867 736,567 
Hyundai Steel Co. 15,174 858,645 
Hyundai Wia Corp. 2,960 148,425 
Industrial Bank of Korea 48,253 759,216 
ING Life Insurance Korea Ltd. (d) 6,276 241,447 
Kakao Corp. 9,221 955,745 
Kangwon Land, Inc. 22,358 603,353 
KB Financial Group, Inc. 78,833 4,466,879 
KCC Corp. 1,104 403,076 
KEPCO Plant Service & Engineering Co. Ltd. 4,991 236,285 
Kia Motors Corp. 51,961 1,606,003 
Korea Aerospace Industries Ltd. 13,017 525,092 
Korea Electric Power Corp. 50,628 1,766,303 
Korea Express Co. Ltd. (b) 1,608 234,986 
Korea Gas Corp. (b) 5,699 291,622 
Korea Investment Holdings Co. Ltd. 7,462 634,767 
Korea Zinc Co. Ltd. 1,610 651,712 
Korean Air Lines Co. Ltd. 9,109 290,471 
KT Corp. 2,367 60,021 
KT Corp. sponsored ADR (a) 4,577 61,469 
KT&G Corp. 22,882 2,089,651 
Kumho Petro Chemical Co. Ltd. 3,489 350,228 
LG Chemical Ltd. 8,824 2,966,258 
LG Corp. 19,277 1,459,827 
LG Display Co. Ltd. 47,363 1,031,353 
LG Electronics, Inc. 20,801 1,981,186 
LG Household & Health Care Ltd. 1,850 2,366,646 
LG Innotek Co. Ltd. 2,694 293,065 
Lotte Chemical Corp. 3,089 1,194,151 
Lotte Confectionery Co. Ltd. 5,621 341,693 
Lotte Shopping Co. Ltd. 2,147 513,231 
Medy-Tox, Inc. 810 527,634 
Mirae Asset Daewoo Co. Ltd. 69,952 638,822 
NAVER Corp. 5,478 3,662,486 
NCSOFT Corp. 3,517 1,182,268 
Netmarble Corp. (d) 4,872 671,027 
Oci Co. Ltd. 3,193 465,119 
Orion Corp./Republic of Korea 4,154 482,922 
Ottogi Corp. 238 176,457 
POSCO 14,683 5,045,605 
Posco Daewoo Corp. 8,274 174,222 
S-Oil Corp. 8,611 884,478 
S1 Corp. 3,231 295,969 
Samsung Biologics Co. Ltd. (b)(d) 3,302 1,504,658 
Samsung Card Co. Ltd. 5,624 195,882 
Samsung Electro-Mechanics Co. Ltd. 11,405 1,261,986 
Samsung Electronics Co. Ltd. 19,051 47,208,378 
Samsung Fire & Marine Insurance Co. Ltd. 6,071 1,516,439 
Samsung Heavy Industries Co. Ltd. (b) 48,326 331,672 
Samsung Life Insurance Co. Ltd. 13,817 1,509,526 
Samsung SDI Co. Ltd. 10,778 1,846,780 
Samsung SDS Co. Ltd. 6,949 1,589,752 
Samsung Securities Co. Ltd. 12,729 440,970 
Shinhan Financial Group Co. Ltd. 83,573 3,711,237 
Shinsegae Co. Ltd. 1,411 550,078 
SillaJen, Inc. (b) 10,410 817,500 
SK C&C Co. Ltd. 6,451 1,770,987 
SK Energy Co. Ltd. 12,673 2,325,321 
SK Hynix, Inc. 114,840 9,061,307 
SK Networks Co. Ltd. 27,926 146,550 
SK Telecom Co. Ltd. 3,863 823,164 
STX Pan Ocean Co. Ltd. (Korea) (b) 43,787 224,879 
Woori Bank 95,874 1,436,868 
Woori Investment & Securities Co. Ltd. 26,870 391,411 
Yuhan Corp. 1,637 350,046 
TOTAL KOREA (SOUTH)  158,341,873 
Luxembourg - 0.2%   
ArcelorMittal SA (Netherlands) 131,180 4,450,612 
Eurofins Scientific SA 2,242 1,212,391 
Millicom International Cellular SA (depository receipt) 13,017 868,132 
PLAY Communications SA (d) 23,760 200,649 
RTL Group SA 7,675 632,564 
SES SA (France) (depositary receipt) 71,784 1,109,585 
Tenaris SA 92,512 1,733,790 
TOTAL LUXEMBOURG  10,207,723 
Malaysia - 0.6%   
AirAsia Group BHD 300,900 294,105 
Alliance Bank Malaysia Bhd 222,900 246,203 
AMMB Holdings Bhd 318,100 314,334 
Astro Malaysia Holdings Bhd (d) 299,300 145,022 
Axiata Group Bhd 521,979 700,732 
British American Tobacco (Malaysia) Bhd 30,700 191,518 
Bumiputra-Commerce Holdings Bhd 927,871 1,691,865 
Dialog Group Bhd 601,322 470,133 
DiGi.com Bhd 593,900 697,454 
Felda Global Ventures Holdings Bhd (d) 279,200 120,894 
Gamuda Bhd 326,200 426,157 
Genting Bhd 462,400 1,050,643 
Genting Malaysia Bhd 610,800 795,651 
Genting Plantations Bhd 48,500 122,471 
Hap Seng Consolidated Bhd 125,000 311,186 
Hartalega Holdings Bhd 254,700 379,262 
Hong Leong Bank Bhd 124,800 601,986 
Hong Leong Credit Bhd 45,600 225,232 
IHH Healthcare Bhd (d) 397,000 613,661 
IJM Corp. Bhd 551,500 417,724 
IOI Corp. Bhd 421,200 511,980 
IOI Properties Group Bhd 403,750 160,416 
Kuala Lumpur Kepong Bhd 91,800 595,248 
Malayan Banking Bhd 846,872 2,322,857 
Malaysia Airports Holdings Bhd 159,402 365,374 
Maxis Bhd 374,000 554,177 
MISC Bhd 261,100 474,347 
Nestle (Malaysia) BHD 11,200 393,630 
Petronas Chemicals Group Bhd 460,600 990,053 
Petronas Dagangan Bhd 47,700 327,602 
Petronas Gas Bhd 144,600 654,586 
PPB Group Bhd 90,900 445,013 
Press Metal Bhd 252,200 307,853 
Public Bank Bhd 575,900 3,486,533 
RHB Capital Bhd 176,374 237,276 
RHB Capital Bhd (b)(c) 46,292 
SapuraKencana Petroleum Bhd 783,600 126,217 
Sime Darby Bhd 455,285 308,488 
Sime Darby Plantation Bhd 493,485 699,904 
Sime Darby Property Bhd 481,285 182,447 
SP Setia Bhd 308,677 250,064 
Telekom Malaysia Bhd 213,826 287,763 
Tenaga Nasional Bhd 664,200 2,675,882 
UMW Holdings Bhd (b) 94,200 146,325 
Westports Holdings Bhd 234,100 197,885 
YTL Corp. Bhd 852,422 313,461 
YTL Power International Bhd 525,587 122,796 
TOTAL MALAYSIA  26,954,410 
Malta - 0.0%   
Brait SA 70,058 242,081 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 1,340,600 347,600 
Mexico - 0.7%   
Alfa SA de CV Series A 627,200 805,210 
America Movil S.A.B. de CV Series L 6,646,700 6,151,966 
Banco Santander Mexico SA 350,460 519,448 
CEMEX S.A.B. de CV unit 2,852,494 1,784,520 
Coca-Cola FEMSA S.A.B. de CV Series L 95,600 620,718 
Compartamos S.A.B. de CV (a) 185,600 148,364 
El Puerto de Liverpool S.A.B. de CV Class C 38,270 255,337 
Embotelladoras Arca S.A.B. de CV 84,900 586,790 
Fibra Uno Administracion SA de CV 634,500 1,050,712 
Fomento Economico Mexicano S.A.B. de CV unit 386,400 3,735,066 
Gruma S.A.B. de CV Series B 41,265 504,018 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 68,700 714,622 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 39,750 714,848 
Grupo Bimbo S.A.B. de CV Series A 315,300 733,877 
Grupo Carso SA de CV Series A1 86,700 311,529 
Grupo Financiero Banorte S.A.B. de CV Series O 496,000 3,103,506 
Grupo Financiero Inbursa S.A.B. de CV Series O 445,000 741,427 
Grupo Lala S.A.B. de CV (a) 121,900 155,911 
Grupo Mexico SA de CV Series B 760,824 2,529,157 
Grupo Televisa SA de CV 480,600 1,724,831 
Industrias Penoles SA de CV 28,485 597,876 
Infraestructura Energetica Nova S.A.B. de CV 102,600 451,665 
Kimberly-Clark de Mexico SA de CV Series A 292,000 529,914 
Mexichem S.A.B. de CV 201,137 628,296 
Promotora y Operadora de Infraestructura S.A.B. de CV 43,550 446,257 
Wal-Mart de Mexico SA de CV Series V 1,022,800 2,842,197 
TOTAL MEXICO  32,388,062 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 537,500 499,781 
HKT Trust/HKT Ltd. unit 739,860 973,423 
TOTAL MULTI-NATIONAL  1,473,204 
Netherlands - 3.0%   
ABN AMRO Group NV GDR 83,348 2,589,751 
AEGON NV 346,478 2,548,934 
AerCap Holdings NV (b) 26,470 1,379,881 
Airbus Group NV 114,298 13,416,662 
Akzo Nobel NV 49,670 4,492,614 
Akzo Nobel NV rights (b)(e) 49,670 116,364 
Altice NV:   
Class A (a)(b) 89,808 860,893 
Class B (b) 17,041 163,086 
ASML Holding NV (Netherlands) 76,565 14,562,433 
CNH Industrial NV 199,355 2,465,189 
EXOR NV 21,017 1,561,893 
Ferrari NV 24,396 3,006,455 
Fiat Chrysler Automobiles NV 212,301 4,760,878 
Heineken Holding NV 22,547 2,292,577 
Heineken NV (Bearer) 50,810 5,356,567 
ING Groep NV (Certificaten Van Aandelen) 764,043 12,874,523 
Koninklijke Ahold Delhaize NV 251,982 6,087,391 
Koninklijke Boskalis Westminster NV 18,343 544,250 
Koninklijke DSM NV 35,905 3,721,059 
Koninklijke KPN NV 654,153 2,035,878 
Koninklijke Philips Electronics NV 185,075 7,833,527 
NN Group NV 60,946 2,921,120 
NXP Semiconductors NV (b) 66,830 7,010,467 
QIAGEN NV (Germany) (b) 44,073 1,452,444 
Randstad NV 23,184 1,494,480 
RELX NV 190,622 4,054,887 
Steinhoff International Holdings NV (South Africa) 576,137 88,746 
STMicroelectronics NV (France) 124,363 2,715,503 
Unilever NV (Certificaten Van Aandelen) (Bearer) 320,115 18,351,741 
Vopak NV 13,683 675,815 
Wolters Kluwer NV 57,636 3,120,223 
TOTAL NETHERLANDS  134,556,231 
New Zealand - 0.1%   
Auckland International Airport Ltd. 193,675 869,401 
Fisher & Paykel Healthcare Corp. 111,916 1,003,987 
Fletcher Building Ltd. 175,937 781,110 
Mercury Nz Ltd. 136,513 306,401 
Meridian Energy Ltd. 258,545 534,822 
Ryman Healthcare Group Ltd. 77,827 580,446 
Spark New Zealand Ltd. 352,751 858,757 
TOTAL NEW ZEALAND  4,934,924 
Norway - 0.5%   
DNB ASA 193,309 3,615,139 
Gjensidige Forsikring ASA 38,520 610,765 
Marine Harvest ASA 81,051 1,764,526 
Norsk Hydro ASA 268,538 1,677,276 
Orkla ASA 163,126 1,511,635 
Schibsted ASA (B Shares) 18,451 496,792 
Statoil ASA 229,023 5,856,739 
Telenor ASA 148,630 3,289,762 
Yara International ASA 34,693 1,466,029 
TOTAL NORWAY  20,288,663 
Pakistan - 0.0%   
Habib Bank Ltd. 129,900 218,842 
Lucky Cement Ltd. 26,450 151,326 
MCB Bank Ltd. 74,000 133,728 
Oil & Gas Development Co. Ltd. 126,500 182,498 
United Bank Ltd. 90,100 156,780 
TOTAL PAKISTAN  843,174 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 277,710 1,633,788 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 35,796 570,946 
Philippines - 0.2%   
Aboitiz Equity Ventures, Inc. 373,800 502,991 
Aboitiz Power Corp. 295,900 217,222 
Alliance Global Group, Inc. (b) 783,100 197,543 
Ayala Corp. 50,640 943,395 
Ayala Land, Inc. 1,456,400 1,146,176 
Bank of the Philippine Islands (BPI) 170,906 346,449 
BDO Unibank, Inc. 397,304 1,009,279 
DMCI Holdings, Inc. 844,450 179,771 
Globe Telecom, Inc. 6,890 205,445 
GT Capital Holdings, Inc. 16,475 334,425 
International Container Terminal Services, Inc. 106,740 174,363 
JG Summit Holdings, Inc. 545,300 672,753 
Jollibee Food Corp. 82,060 451,657 
Manila Electric Co. 42,530 264,426 
Megaworld Corp. 2,361,100 205,201 
Metro Pacific Investments Corp. 2,677,200 263,713 
Metropolitan Bank & Trust Co. 158,120 259,375 
Philippine Long Distance Telephone Co. 16,375 458,975 
Robinsons Land Corp. 380,806 131,532 
Security Bank Corp. 43,910 177,089 
SM Investments Corp. 46,153 835,862 
SM Prime Holdings, Inc. 1,716,500 1,132,916 
Universal Robina Corp. 167,420 455,060 
TOTAL PHILIPPINES  10,565,618 
Poland - 0.3%   
Alior Bank SA (b) 17,300 350,204 
Bank Handlowy w Warszawie SA 6,306 149,123 
Bank Millennium SA (b) 116,377 283,495 
Bank Polska Kasa Opieki SA 31,425 1,046,649 
Bank Zachodni WBK SA 6,651 703,785 
BRE Bank SA 2,838 347,205 
CD Projekt RED SA 12,859 457,228 
Cyfrowy Polsat SA 41,525 303,583 
Dino Polska SA (b)(d) 9,430 255,239 
Grupa Lotos SA 17,638 277,999 
Jastrzebska Spolka Weglowa SA (b) 10,000 235,965 
KGHM Polska Miedz SA (Bearer) 28,106 749,846 
LPP SA 248 647,937 
NG2 SA 5,491 405,194 
Polish Oil & Gas Co. SA 331,662 583,977 
Polska Grupa Energetyczna SA (b) 160,952 480,125 
Polski Koncern Naftowy Orlen SA 58,978 1,507,280 
Powszechna Kasa Oszczednosci Bank SA (b) 183,495 2,187,396 
Powszechny Zaklad Ubezpieczen SA 119,278 1,458,584 
Tauron Polska Energia SA (b) 183,497 122,859 
Telekomunikacja Polska SA (b) 134,004 201,205 
Zaklady Azotowe w Tarnowie-Moscicach SA 8,499 129,549 
TOTAL POLAND  12,884,427 
Portugal - 0.1%   
Banco Espirito Santo SA (Reg.) (b)(c) 82,039 
Energias de Portugal SA 462,398 1,717,613 
Galp Energia SGPS SA Class B 101,554 1,951,762 
Jeronimo Martins SGPS SA 48,341 848,796 
TOTAL PORTUGAL  4,518,172 
Qatar - 0.1%   
Barwa Real Estate Co. 18,460 179,226 
Doha Bank 30,003 223,230 
Ezdan Holding Group (b) 157,953 486,310 
Industries Qatar QSC (b) 31,795 978,039 
Masraf al Rayan 72,989 713,251 
Qatar Electricity & Water Co. 5,568 302,792 
Qatar Gas Transport Co. Ltd. (Nakilat) 56,297 227,136 
Qatar Insurance Co. SAQ 34,095 341,605 
Qatar Islamic Bank 11,674 343,102 
Qatar National Bank SAQ 47,216 1,958,148 
Qatar Telecom (Qtel) Q.S.C. (b) 15,850 344,773 
The Commercial Bank of Qatar 39,983 396,975 
TOTAL QATAR  6,494,587 
Russia - 0.8%   
Alrosa Co. Ltd. 523,901 745,512 
Gazprom OAO 1,502,032 3,480,750 
Gazprom OAO sponsored ADR (Reg. S) 300,704 1,391,658 
Inter Rao Ues JSC 5,981,000 379,912 
Lukoil PJSC 57,028 3,767,415 
Lukoil PJSC sponsored ADR 26,871 1,794,983 
Magnit OJSC GDR (Reg. S) 71,120 1,350,569 
Magnitogorsk Iron & Steel Works PJSC 420,400 324,984 
MMC Norilsk Nickel PJSC 9,058 1,547,205 
MMC Norilsk Nickel PJSC sponsored ADR 33,213 571,098 
Mobile TeleSystems OJSC sponsored ADR 100,626 1,056,573 
Moscow Exchange MICEX-RTS OAO 282,805 542,280 
NOVATEK OAO GDR (Reg. S) 17,831 2,264,537 
Novolipetsk Steel OJSC 228,240 584,115 
PhosAgro OJSC GDR (Reg. S) 22,289 321,407 
Polyus PJSC 5,052 320,501 
Rosneft Oil Co. OJSC 176,573 1,073,921 
Rosneft Oil Co. OJSC GDR (Reg. S) 57,870 352,660 
RusHydro PJSC 13,548,000 160,280 
RusHydro PJSC ADR 68,343 77,638 
Sberbank of Russia 2,123,846 7,570,439 
Severstal PAO 28,843 463,476 
Severstal PAO GDR (Reg. S) 14,614 233,386 
Surgutneftegas OJSC 649,900 303,832 
Surgutneftegas OJSC sponsored ADR 72,932 342,635 
Tatneft PAO 226,331 2,411,837 
Tatneft PAO sponsored ADR 11,837 763,487 
VTB Bank OJSC (b) 992,480,334 850,596 
TOTAL RUSSIA  35,047,686 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 491,600 986,195 
CapitaCommercial Trust (REIT) 509,046 695,457 
CapitaLand Ltd. 502,400 1,416,692 
CapitaMall Trust 471,500 744,578 
City Developments Ltd. 78,900 749,779 
ComfortDelgro Corp. Ltd. 445,500 751,910 
DBS Group Holdings Ltd. 353,629 8,158,959 
Hutchison Port Holdings Trust 1,054,000 351,405 
Jardine Cycle & Carriage Ltd. 19,300 496,566 
Keppel Corp. Ltd. 290,800 1,783,523 
Oversea-Chinese Banking Corp. Ltd. 620,994 6,413,992 
Sembcorp Industries Ltd. 203,100 467,825 
Singapore Airlines Ltd. 107,300 875,500 
Singapore Airport Terminal Service Ltd. 132,600 551,006 
Singapore Exchange Ltd. 160,700 931,903 
Singapore Press Holdings Ltd. 310,500 634,487 
Singapore Technologies Engineering Ltd. 316,400 827,966 
Singapore Telecommunications Ltd. 1,601,700 4,236,650 
StarHub Ltd. 126,400 215,628 
Suntec (REIT) 505,300 742,744 
United Overseas Bank Ltd. 264,353 5,986,070 
UOL Group Ltd. 97,077 641,157 
Wilmar International Ltd. 303,800 743,225 
Yangzijiang Shipbuilding Holdings Ltd. 470,400 410,774 
TOTAL SINGAPORE  39,813,991 
South Africa - 1.6%   
Anglo American Platinum Ltd. 10,251 275,087 
AngloGold Ashanti Ltd. 78,144 698,503 
Aspen Pharmacare Holdings Ltd. 76,543 1,650,395 
Barclays Africa Group Ltd. 140,949 2,064,519 
Bidcorp Ltd. 66,286 1,523,798 
Bidvest Group Ltd. 67,521 1,322,680 
Capitec Bank Holdings Ltd. 7,763 552,679 
Coronation Fund Managers Ltd. 43,671 259,335 
Discovery Ltd. 72,036 1,000,210 
Exxaro Resources Ltd. 48,151 427,098 
FirstRand Ltd. 666,576 3,569,866 
Fortress (REIT) Ltd.:   
Class A 214,018 294,536 
Class B 145,291 202,480 
Foschini Ltd. 45,861 789,060 
Gold Fields Ltd. 156,596 594,525 
Growthpoint Properties Ltd. 574,344 1,328,760 
Hyprop Investments Ltd. 51,417 469,415 
Imperial Holdings Ltd. 28,874 555,423 
Investec Ltd. 53,474 421,821 
Kumba Iron Ore Ltd. 12,325 263,292 
Liberty Holdings Ltd. 24,831 261,631 
Life Healthcare Group Holdings Ltd. 254,676 600,343 
MMI Holdings Ltd. 180,265 320,904 
Mondi Ltd. 22,657 661,015 
Mr Price Group Ltd. 48,866 1,072,309 
MTN Group Ltd. 331,301 3,325,169 
Naspers Ltd. Class N 86,249 21,011,944 
Nedbank Group Ltd. 45,301 1,080,339 
Netcare Ltd. 197,069 490,719 
Pick 'n Pay Stores Ltd. 69,970 452,966 
Pioneer Foods Ltd. 24,540 238,663 
PSG Group Ltd. 28,782 517,858 
Rand Merchant Insurance Holdings Ltd. 131,214 434,548 
Redefine Properties Ltd. 1,022,296 982,441 
Remgro Ltd. 104,507 1,881,505 
Resilient Property Income Fund Ltd. 56,772 308,898 
RMB Holdings Ltd. 143,673 901,156 
Sanlam Ltd. 275,585 1,740,876 
Sappi Ltd. 106,648 680,593 
Sasol Ltd. 109,968 3,931,066 
Shoprite Holdings Ltd. 87,003 1,730,996 
Sibanye-Stillwater 343,722 301,293 
Spar Group Ltd. 36,822 619,008 
Standard Bank Group Ltd. 255,968 4,390,005 
Telkom SA Ltd. 55,360 252,821 
Tiger Brands Ltd. 33,118 1,035,050 
Truworths International Ltd. 90,418 739,220 
Vodacom Group Ltd. 118,722 1,484,252 
Woolworths Holdings Ltd. 201,527 1,035,674 
TOTAL SOUTH AFRICA  70,746,744 
Spain - 2.1%   
Abertis Infraestructuras SA 137,199 3,025,344 
ACS Actividades de Construccion y Servicios SA 46,974 1,979,709 
Aena Sme SA (d) 13,391 2,766,853 
Amadeus IT Holding SA Class A 86,205 6,318,940 
Banco Bilbao Vizcaya Argentaria SA 1,308,971 10,592,270 
Banco de Sabadell SA 1,044,630 2,051,822 
Banco Santander SA (Spain) 3,170,373 20,570,759 
Bankia SA 236,899 1,043,331 
Bankinter SA 130,807 1,371,115 
CaixaBank SA 710,787 3,456,468 
Enagas SA 44,465 1,296,220 
Endesa SA 62,286 1,456,945 
Ferrovial SA 94,907 2,032,603 
Gamesa Corporacion Tecnologica SA (a) 48,445 834,534 
Gas Natural SDG SA 67,773 1,711,330 
Grifols SA 59,691 1,683,135 
Iberdrola SA 1,139,452 8,828,430 
Inditex SA 214,223 6,669,175 
International Consolidated Airlines Group SA 98,034 849,063 
International Consolidated Airlines Group SA CDI 20,429 177,241 
MAPFRE SA (Reg.) 220,388 767,549 
Red Electrica Corporacion SA 86,490 1,801,623 
Repsol SA 248,059 4,747,963 
Telefonica SA 917,706 9,351,871 
TOTAL SPAIN  95,384,293 
Sweden - 1.7%   
Alfa Laval AB 56,789 1,411,837 
ASSA ABLOY AB (B Shares) 197,449 4,153,427 
Atlas Copco AB:   
(A Shares) 131,608 5,171,648 
(B Shares) 76,816 2,739,591 
Boliden AB 54,309 1,890,379 
Electrolux AB (B Shares) 46,894 1,238,668 
Essity AB Class B 119,857 3,052,321 
Getinge AB (B Shares) 45,574 425,000 
H&M Hennes & Mauritz AB (B Shares) (a) 188,181 3,233,775 
Hexagon AB (B Shares) 50,314 2,918,869 
Husqvarna AB (B Shares) 83,005 800,414 
ICA Gruppen AB (a) 15,877 494,080 
Industrivarden AB (C Shares) 32,774 692,971 
Investor AB (B Shares) 89,802 3,928,802 
Kinnevik AB (B Shares) 45,601 1,651,325 
Lundbergfoeretagen AB 7,611 517,155 
Lundin Petroleum AB 36,413 1,007,146 
Nordea Bank AB 597,099 6,094,649 
Sandvik AB 222,683 3,814,524 
Securitas AB (B Shares) 62,976 1,021,234 
Skandinaviska Enskilda Banken AB (A Shares) 300,301 2,829,259 
Skanska AB (B Shares) 66,704 1,304,882 
SKF AB (B Shares) 72,891 1,482,101 
Svenska Handelsbanken AB (A Shares) 301,477 3,362,151 
Swedbank AB (A Shares) 178,474 3,891,855 
Swedish Match Co. AB 35,230 1,585,152 
Tele2 AB (B Shares) 72,098 938,621 
Telefonaktiebolaget LM Ericsson (B Shares) 606,687 4,625,060 
TeliaSonera AB 545,802 2,691,409 
Volvo AB (B Shares) 307,168 5,233,676 
TOTAL SWEDEN  74,201,981 
Switzerland - 5.0%   
ABB Ltd. (Reg.) 362,958 8,462,576 
Adecco SA (Reg.) 31,793 2,115,470 
Baloise Holdings AG 9,384 1,493,296 
Barry Callebaut AG 436 786,208 
Clariant AG (Reg.) 45,082 1,046,758 
Coca-Cola HBC AG 36,000 1,211,276 
Compagnie Financiere Richemont SA Series A 102,479 9,741,525 
Credit Suisse Group AG 478,410 8,068,979 
Dufry AG 6,938 986,092 
Ems-Chemie Holding AG 1,630 1,011,554 
Galenica AG 9,581 1,520,295 
Geberit AG (Reg.) 7,334 3,142,297 
Givaudan SA 1,825 4,086,453 
Julius Baer Group Ltd. 43,644 2,590,200 
Kuehne & Nagel International AG 10,757 1,682,477 
Lafargeholcim Ltd. (Reg.) 89,860 5,019,828 
Lindt & Spruengli AG 20 1,521,695 
Lindt & Spruengli AG (participation certificate) 205 1,319,778 
Lonza Group AG 14,789 3,644,272 
Nestle SA (Reg. S) 612,021 47,413,324 
Novartis AG 437,517 33,677,572 
Pargesa Holding SA 8,018 753,660 
Partners Group Holding AG 3,385 2,481,536 
Roche Holding AG (participation certificate) 138,178 30,701,420 
Schindler Holding AG:   
(participation certificate) 8,130 1,686,708 
(Reg.) 3,929 789,368 
SGS SA (Reg.) 1,058 2,580,410 
Sika AG 428 3,122,543 
Sonova Holding AG Class B 10,488 1,737,770 
Straumann Holding AG 1,996 1,364,571 
Swatch Group AG (Bearer) 6,081 2,936,184 
Swatch Group AG (Bearer) (Reg.) 11,122 994,920 
Swiss Life Holding AG 6,363 2,237,644 
Swiss Prime Site AG 14,124 1,326,174 
Swiss Re Ltd. 61,762 5,899,486 
Swisscom AG 5,146 2,476,934 
UBS Group AG 720,324 12,189,539 
Zurich Insurance Group AG 29,664 9,475,736 
TOTAL SWITZERLAND  223,296,528 
Taiwan - 2.7%   
Acer, Inc. 558,288 425,020 
Advantech Co. Ltd. 65,591 449,484 
ASE Industrial Holding Co. Ltd. 683,840 1,841,590 
Asia Cement Corp. 449,466 478,810 
Asia Pacific Telecom Co. Ltd. (b) 441,000 130,538 
ASUSTeK Computer, Inc. 139,000 1,296,741 
AU Optronics Corp. 1,780,000 732,694 
Catcher Technology Co. Ltd. 129,000 1,428,099 
Cathay Financial Holding Co. Ltd. 1,622,285 2,904,830 
Chang Hwa Commercial Bank 912,327 524,240 
Cheng Shin Rubber Industry Co. Ltd. 370,899 597,006 
Chicony Electronics Co. Ltd. 102,874 253,004 
China Airlines Ltd. (b) 590,490 215,016 
China Development Finance Holding Corp. 2,596,800 980,106 
China Life Insurance Co. Ltd. 527,071 570,040 
China Steel Corp. 2,455,426 1,939,554 
Chinatrust Financial Holding Co. Ltd. 3,435,579 2,445,789 
Chunghwa Telecom Co. Ltd. 755,000 2,867,738 
Compal Electronics, Inc. 799,000 519,509 
Delta Electronics, Inc. 382,621 1,384,739 
E.SUN Financial Holdings Co. Ltd. 1,771,963 1,250,831 
ECLAT Textile Co. Ltd. 33,941 408,754 
EVA Airways Corp. 454,539 243,650 
Evergreen Marine Corp. (Taiwan) (b) 433,450 218,854 
Far Eastern Textile Ltd. 620,664 591,338 
Far EasTone Telecommunications Co. Ltd. 307,000 810,800 
Feng Tay Enterprise Co. Ltd. 64,436 291,674 
First Financial Holding Co. Ltd. 1,880,651 1,290,672 
Formosa Chemicals & Fibre Corp. 574,590 2,107,391 
Formosa Petrochemical Corp. 256,000 1,042,718 
Formosa Plastics Corp. 806,480 2,825,120 
Formosa Taffeta Co. Ltd. 149,000 168,171 
Foxconn Technology Co. Ltd. 174,535 432,583 
Fubon Financial Holding Co. Ltd. 1,300,398 2,220,855 
Giant Manufacturing Co. Ltd. 57,000 288,975 
GlobalWafers Co. Ltd. 41,000 660,263 
Highwealth Construction Corp. 176,480 271,225 
HIWIN Technologies Corp. 39,624 595,836 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 3,077,488 8,544,509 
Hotai Motor Co. Ltd. 52,000 508,794 
HTC Corp. (b) 125,000 252,975 
Hua Nan Financial Holdings Co. Ltd. 1,394,382 841,735 
Innolux Corp. 1,835,427 681,801 
Inventec Corp. 476,280 360,211 
Largan Precision Co. Ltd. 20,000 2,322,045 
Lite-On Technology Corp. 401,910 529,426 
Macronix International Co. Ltd. (b) 344,000 545,509 
MediaTek, Inc. 292,970 3,326,223 
Mega Financial Holding Co. Ltd. 2,247,246 1,980,371 
Micro-Star International Co. Ltd. 129,000 402,173 
Nan Ya Plastics Corp. 929,780 2,542,144 
Nanya Technology Corp. 197,000 612,151 
Nien Made Enterprise Co. Ltd. 29,000 257,138 
Novatek Microelectronics Corp. 109,000 456,720 
Pegatron Corp. 392,000 912,319 
Phison Electronics Corp. 29,000 262,067 
Pou Chen Corp. 419,000 523,062 
Powertech Technology, Inc. 144,000 411,488 
President Chain Store Corp. 116,000 1,138,199 
Quanta Computer, Inc. 539,000 978,232 
Realtek Semiconductor Corp. 85,090 321,215 
Ruentex Development Co. Ltd. 177,824 212,554 
Ruentex Industries Ltd. 123,015 237,932 
Shin Kong Financial Holding Co. Ltd. 1,564,331 634,653 
Sinopac Holdings Co. 2,029,995 729,232 
Standard Foods Corp. 112,986 252,944 
Synnex Technology International Corp. 269,500 386,371 
TaiMed Biologics, Inc. (b) 36,000 373,524 
Taishin Financial Holdings Co. Ltd. 1,830,714 888,006 
Taiwan Business Bank 752,009 230,689 
Taiwan Cement Corp. 770,000 1,056,279 
Taiwan Cooperative Financial Holding Co. Ltd. 1,542,100 894,469 
Taiwan High Speed Rail Corp. 327,000 250,724 
Taiwan Mobile Co. Ltd. 326,600 1,203,967 
Taiwan Semiconductor Manufacturing Co. Ltd. 4,826,000 36,696,179 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 4,998 192,173 
TECO Electric & Machinery Co. Ltd. 363,000 294,112 
Unified-President Enterprises Corp. 946,080 2,272,865 
United Microelectronics Corp. 2,372,000 1,276,888 
Vanguard International Semiconductor Corp. 170,000 343,982 
Win Semiconductors Corp. 65,000 486,525 
Winbond Electronics Corp. 569,000 347,640 
Wistron Corp. 496,213 393,891 
WPG Holding Co. Ltd. 311,000 417,753 
Yageo Corp. 40,000 836,954 
Yuanta Financial Holding Co. Ltd. 2,123,372 1,011,589 
TOTAL TAIWAN  118,336,659 
Thailand - 0.6%   
Advanced Info Service PCL (For. Reg.) 206,400 1,358,546 
Airports of Thailand PCL (For. Reg.) 843,500 1,897,346 
Bangkok Bank PCL (For. Reg.) 48,000 305,783 
Bangkok Dusit Medical Services PCL (For. Reg.) 742,900 529,038 
Bangkok Expressway and Metro PCL 1,410,000 345,434 
Banpu PCL (For. Reg.) 391,500 238,964 
Berli Jucker PCL (For. Reg) 229,100 432,385 
BTS Group Holdings PCL 1,132,400 319,106 
Bumrungrad Hospital PCL (For. Reg.) 68,300 409,933 
C.P. ALL PCL (For. Reg.) 983,000 2,703,742 
Central Pattana PCL (For. Reg.) 256,700 654,859 
Charoen Pokphand Foods PCL (For. Reg.) 571,800 441,180 
Delta Electronics PCL (For. Reg.) 108,400 230,660 
Electricity Generating PCL (For. Reg.) 25,100 176,916 
Energy Absolute PCL 215,200 243,267 
Glow Energy PCL (For. Reg.) 98,700 268,773 
Home Product Center PCL (For. Reg.) 750,367 354,903 
Indorama Ventures PCL (For. Reg.) 301,800 572,641 
IRPC PCL (For. Reg.) 1,915,800 426,192 
Kasikornbank PCL 174,400 1,105,359 
Kasikornbank PCL (For. Reg.) 195,200 1,237,191 
KCE Electronics PCL 57,200 123,765 
Krung Thai Bank PCL (For. Reg.) 672,155 385,990 
Minor International PCL (For. Reg.) 430,970 547,308 
PTT Exploration and Production PCL (For. Reg.) 281,644 1,193,156 
PTT Global Chemical PCL (For. Reg.) 447,239 1,381,803 
PTT PCL (For. Reg.) 2,084,000 3,707,302 
Robinsons Department Store PCL (For. Reg.) 112,300 233,403 
Siam Cement PCL (For. Reg.) 81,700 1,208,111 
Siam Commercial Bank PCL (For. Reg.) 360,800 1,494,007 
Thai Oil PCL (For. Reg.) 214,800 639,245 
Thai Union Frozen Products PCL (For. Reg.) 377,200 214,499 
TMB PCL (For. Reg.) 2,093,400 155,904 
True Corp. PCL (For. Reg.) 1,895,812 455,923 
TOTAL THAILAND  25,992,634 
Turkey - 0.2%   
Akbank T.A.S. 440,675 917,779 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 39,807 261,062 
Arcelik A/S 46,392 206,486 
Aselsan A/S 38,256 237,328 
Bim Birlesik Magazalar A/S JSC 43,707 741,882 
Coca-Cola Icecek Sanayi A/S 14,842 131,317 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 380,688 227,732 
Eregli Demir ve Celik Fabrikalari T.A.S. 286,516 716,625 
Ford Otomotiv Sanayi A/S 14,785 204,372 
Haci Omer Sabanci Holding A/S 174,806 413,981 
Koc Holding A/S 145,645 491,925 
Petkim Petrokimya Holding A/S 128,774 227,616 
TAV Havalimanlari Holding A/S 30,938 165,882 
Tofas Turk Otomobil Fabrikasi A/S 23,666 145,768 
Tupras Turkiye Petrol Rafinerileri A/S 23,954 610,334 
Turk Hava Yollari AO (b) 106,091 436,420 
Turk Sise ve Cam Fabrikalari A/S 142,895 158,651 
Turk Telekomunikasyon (b) 98,064 151,607 
Turkcell Iletisim Hizmet A/S 225,428 774,716 
Turkiye Garanti Bankasi A/S 461,557 1,046,488 
Turkiye Halk Bankasi A/S 118,556 241,367 
Turkiye Is Bankasi A/S Series C 300,020 454,967 
Turkiye Vakiflar Bankasi TAO 146,943 215,960 
Ulker Biskuvi Sanayi A/S 29,143 152,814 
Yapi ve Kredi Bankasi A/S (b) 163,482 160,178 
TOTAL TURKEY  9,493,257 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 414,560 793,422 
Aldar Properties PJSC 618,377 353,536 
Damac Properties Dubai Co. PJSC (b) 357,558 269,642 
DP World Ltd. 35,551 791,010 
Dubai Investments Ltd. 322,591 166,866 
Dubai Islamic Bank Pakistan Ltd. 248,627 372,282 
Dubai Parks and Resorts PJSC (b) 531,681 55,873 
Emaar Malls Group PJSC (b) 382,642 231,263 
Emaar Properties PJSC 727,404 1,146,610 
Emirates Telecommunications Corp. 355,939 1,661,885 
National Bank of Abu Dhabi PJSC 282,944 955,176 
TOTAL UNITED ARAB EMIRATES  6,797,565 
United Kingdom - 10.9%   
3i Group PLC 190,173 2,465,214 
Admiral Group PLC 40,049 1,098,850 
Anglo American PLC (United Kingdom) 262,860 6,185,966 
Antofagasta PLC 77,715 1,040,373 
Ashtead Group PLC 97,322 2,723,878 
Associated British Foods PLC 69,262 2,578,345 
AstraZeneca PLC (United Kingdom) 249,093 17,437,101 
Auto Trader Group PLC (d) 189,018 918,462 
Aviva PLC 785,960 5,710,528 
Babcock International Group PLC 51,554 522,230 
BAE Systems PLC 627,190 5,262,266 
Barclays PLC 3,353,896 9,562,308 
Barratt Developments PLC 203,060 1,559,904 
Berkeley Group Holdings PLC 25,321 1,419,476 
BHP Billiton PLC 415,987 8,869,853 
BP PLC 3,861,185 28,680,751 
BP PLC sponsored ADR 5,396 240,608 
British American Tobacco PLC (United Kingdom) 451,223 24,748,458 
British Land Co. PLC 190,246 1,761,094 
BT Group PLC 1,658,563 5,692,754 
Bunzl PLC 66,826 1,942,106 
Burberry Group PLC 83,055 2,085,023 
Capita Group PLC 129,326 341,042 
Carnival PLC 36,792 2,391,309 
Centrica PLC 1,100,037 2,329,179 
Cobham PLC (b) 462,063 732,177 
Coca-Cola European Partners PLC 43,604 1,709,277 
Compass Group PLC 310,706 6,672,884 
ConvaTec Group PLC (d) 260,306 778,365 
Croda International PLC 26,295 1,614,897 
Diageo PLC 489,293 17,455,377 
Direct Line Insurance Group PLC 267,347 1,377,636 
easyJet PLC 30,818 674,592 
Fresnillo PLC 43,237 758,936 
G4S PLC (United Kingdom) 305,309 1,088,206 
GKN PLC 339,879 2,158,115 
GlaxoSmithKline PLC 967,826 19,411,848 
Hammerson PLC 158,135 1,195,197 
Hargreaves Lansdown PLC 51,258 1,262,794 
HSBC Holdings PLC (United Kingdom) 3,930,089 39,127,903 
IMI PLC 52,781 793,487 
Imperial Tobacco Group PLC 188,315 6,752,251 
InterContinental Hotel Group PLC 35,353 2,233,488 
Intertek Group PLC 31,635 2,134,479 
Investec PLC 132,460 1,052,933 
ITV PLC 728,409 1,520,747 
J Sainsbury PLC 327,067 1,391,344 
John Wood Group PLC 133,428 1,044,463 
Johnson Matthey PLC 38,723 1,756,030 
Kingfisher PLC 420,282 1,752,758 
Land Securities Group PLC 146,848 1,998,205 
Legal & General Group PLC 1,170,646 4,351,397 
Lloyds Banking Group PLC 14,135,181 12,537,168 
London Stock Exchange Group PLC 61,792 3,657,969 
Marks & Spencer Group PLC 320,710 1,268,102 
Mediclinic International PLC 14,885 138,152 
Mediclinic International PLC 56,493 521,863 
Meggitt PLC 148,210 963,888 
Melrose Industries PLC 378,500 1,188,065 
Merlin Entertainments PLC (d) 140,576 711,807 
Micro Focus International PLC 84,961 1,464,994 
Mondi PLC 72,940 2,034,438 
National Grid PLC 664,623 7,711,506 
Next PLC 29,134 2,108,117 
Old Mutual PLC 976,176 3,381,256 
Pearson PLC 160,156 1,836,131 
Persimmon PLC 60,585 2,264,510 
Prudential PLC 508,072 13,064,593 
Reckitt Benckiser Group PLC 131,496 10,315,609 
RELX PLC 209,449 4,482,377 
Rio Tinto PLC 238,433 12,996,016 
Rolls-Royce Holdings PLC 326,876 3,780,086 
Royal Bank of Scotland Group PLC (b) 698,079 2,585,126 
Royal Dutch Shell PLC:   
Class A 14,363 502,615 
Class A (United Kingdom) 873,958 30,406,062 
Class A sponsored ADR 2,832 197,957 
Class B (United Kingdom) 736,679 26,298,604 
Royal Mail PLC 177,500 1,420,245 
RSA Insurance Group PLC 203,803 1,844,504 
Sage Group PLC 212,288 1,856,416 
Schroders PLC 24,475 1,112,263 
Scottish & Southern Energy PLC 200,364 3,802,629 
Segro PLC 195,060 1,735,300 
Severn Trent PLC 47,402 1,266,012 
SKY PLC 203,504 3,860,659 
Smith & Nephew PLC 173,434 3,321,442 
Smiths Group PLC 76,435 1,681,018 
St. James's Place Capital PLC 105,673 1,653,380 
Standard Chartered PLC (United Kingdom) 648,928 6,852,218 
Standard Life PLC 521,830 2,624,327 
Taylor Wimpey PLC 654,338 1,727,336 
Tesco PLC 1,915,596 6,204,498 
The Weir Group PLC 43,998 1,293,819 
Travis Perkins PLC 48,142 841,056 
Unilever PLC 242,149 13,582,637 
United Utilities Group PLC 132,013 1,350,709 
Vodafone Group PLC 5,214,133 15,215,962 
Vodafone Group PLC sponsored ADR 2,705 79,554 
Whitbread PLC 36,433 2,147,235 
WM Morrison Supermarkets PLC 434,508 1,454,193 
TOTAL UNITED KINGDOM  483,711,287 
United States of America - 0.1%   
Southern Copper Corp. 16,906 892,806 
Yum China Holdings, Inc. 75,136 3,212,815 
TOTAL UNITED STATES OF AMERICA  4,105,621 
TOTAL COMMON STOCKS   
(Cost $3,790,719,138)  4,228,359,299 
Nonconvertible Preferred Stocks - 1.3%   
Brazil - 0.7%   
Banco Bradesco SA (PN) 664,190 6,554,307 
Braskem SA (PN-A) 33,200 432,627 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 41,200 268,143 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 30,400 683,202 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 184,507 445,572 
Gerdau SA 209,200 994,285 
Itau Unibanco Holding SA 638,881 9,302,729 
Itausa-Investimentos Itau SA (PN) 793,179 3,081,516 
Lojas Americanas SA (PN) 141,336 804,879 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (b) 774,800 5,080,257 
Telefonica Brasil SA 88,600 1,242,808 
TOTAL BRAZIL  28,890,325 
Chile - 0.0%   
Embotelladora Andina SA Class B 50,951 253,351 
Sociedad Quimica y Minera de Chile SA (PN-B) 18,413 1,005,696 
TOTAL CHILE  1,259,047 
Colombia - 0.0%   
Bancolombia SA (PN) 90,830 1,076,784 
Grupo Aval Acciones y Valores SA 670,206 294,666 
Grupo de Inversiones Suramerica SA (b) 21,002 272,903 
TOTAL COLOMBIA  1,644,353 
France - 0.0%   
Air Liquide SA (b) 8,120 1,055,408 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 10,885 1,054,207 
Fuchs Petrolub AG 13,737 738,865 
Henkel AG & Co. KGaA 35,067 4,463,364 
Porsche Automobil Holding SE (Germany) 29,850 2,552,118 
Volkswagen AG 36,620 7,599,162 
TOTAL GERMANY  16,407,716 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 1,245,504 1,072,402 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 1,715 285,853 
Hyundai Motor Co. 5,335 513,113 
Hyundai Motor Co. Series 2 7,593 815,365 
LG Chemical Ltd. 1,794 345,089 
LG Household & Health Care Ltd. 378 271,784 
Samsung Electronics Co. Ltd. 3,418 6,747,132 
TOTAL KOREA (SOUTH)  8,978,336 
Russia - 0.0%   
AK Transneft OAO 90 246,465 
Surgutneftegas OJSC 1,409,133 693,461 
TOTAL RUSSIA  939,926 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (b) 23,208,196 31,951 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $49,471,543)  60,279,464 
 Principal Amount(f) Value 
Nonconvertible Bonds - 0.0%   
India - 0.0%   
NTPC Ltd. 8.49% 3/25/25
(Cost $13,959) 
INR69,696 14,432 
 Shares Value 
Money Market Funds - 4.3%   
Fidelity Cash Central Fund, 1.74% (g) 130,602,579 130,628,700 
Fidelity Securities Lending Cash Central Fund 1.74% (g)(h) 60,509,250 60,515,301 
TOTAL MONEY MARKET FUNDS   
(Cost $191,144,001)  191,144,001 
TOTAL INVESTMENT IN SECURITIES - 100.7%   
(Cost $4,031,348,641)  4,479,797,196 
NET OTHER ASSETS (LIABILITIES) - (0.7)%(i)  (31,543,352) 
NET ASSETS - 100%  $4,448,253,844 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 1,085 June 2018 $109,937,625 $997,823 $997,823 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 692 June 2018 39,866,120 (715,479) (715,479) 
TME S&P/TSX 60 Index Contracts (Canada) 69 June 2018 9,887,161 164,453 164,453 
TOTAL FUTURES CONTRACTS     $446,797 

The notional amount of futures purchased as a percentage of Net Assets is 3.6%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $87,810,540.

Currency Abbreviations

INR – Indian rupee

Security Type Abbreviations

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

Legend

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

 (b) Non-income producing

 (c) Level 3 security

 (d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $24,704,883 or 0.6% of net assets.

 (e) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

 (f) Amount is stated in United States dollars unless otherwise noted.

 (g) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (h) Investment made with cash collateral received from securities on loan.

 (i) Includes $7,279,843 of cash collateral to cover margin requirements for futures contracts.


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 $621,320 
Fidelity Securities Lending Cash Central Fund 210,938 
Total $832,258 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $489,897,770 $297,604,395 $192,293,375 $-- 
Consumer Staples 400,399,888 192,004,588 208,382,965 12,335 
Energy 305,319,981 117,454,648 187,865,333 -- 
Financials 990,849,595 446,377,451 544,472,143 
Health Care 325,516,875 95,587,540 229,929,335 -- 
Industrials 503,258,501 346,568,515 156,195,018 494,968 
Information Technology 494,840,604 273,808,896 220,721,044 310,664 
Materials 346,429,281 201,385,127 145,044,154 -- 
Real Estate 137,222,136 57,248,822 79,973,314 -- 
Telecommunication Services 169,943,681 36,210,359 133,733,322 -- 
Utilities 124,960,451 73,991,246 50,969,205 -- 
Corporate Bonds 14,432 -- 14,432 -- 
Money Market Funds 191,144,001 191,144,001 -- -- 
Total Investments in Securities: $4,479,797,196 $2,329,385,588 $2,149,593,640 $817,968 
Derivative Instruments:     
Assets     
Futures Contracts $1,162,276 $1,162,276 $-- $-- 
Total Assets $1,162,276 $1,162,276 $-- $-- 
Liabilities     
Futures Contracts $(715,479) $(715,479) $-- $-- 
Total Liabilities $(715,479) $(715,479) $-- $-- 
Total Derivative Instruments: $446,797 $446,797 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $618,342,862 
Level 2 to Level 1 $439,411,959 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $1,162,276 $(715,479) 
Total Equity Risk 1,162,276 (715,479) 
Total Value of Derivatives $1,162,276 $(715,479) 

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


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


Fidelity® Global ex U.S. Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $59,106,952) — See accompanying schedule:
Unaffiliated issuers (cost $3,840,204,640) 
$4,288,653,195  
Fidelity Central Funds (cost $191,144,001) 191,144,001  
Total Investment in Securities (cost $4,031,348,641)  $4,479,797,196 
Segregated cash with brokers for derivative instruments  7,279,843 
Foreign currency held at value (cost $9,069,785)  8,999,647 
Receivable for investments sold   
Regular delivery  1,019,627 
Delayed delivery  1,337,964 
Receivable for fund shares sold  4,391,978 
Dividends receivable  17,704,418 
Interest receivable  60 
Distributions receivable from Fidelity Central Funds  207,871 
Other receivables  360,322 
Total assets  4,521,098,926 
Liabilities   
Payable to custodian bank $361,684  
Payable for investments purchased   
Regular delivery 717,344  
Delayed delivery 116,364  
Payable for fund shares redeemed 8,886,961  
Accrued management fee 224,180  
Payable for daily variation margin on futures contracts 842,150  
Other affiliated payables 75,838  
Other payables and accrued expenses 1,105,038  
Collateral on securities loaned 60,515,523  
Total liabilities  72,845,082 
Net Assets  $4,448,253,844 
Net Assets consist of:   
Paid in capital  $3,930,107,724 
Undistributed net investment income  40,896,691 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  29,752,978 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  447,496,451 
Net Assets  $4,448,253,844 
Investor Class:   
Net Asset Value, offering price and redemption price per share ($37,616,268 ÷ 2,771,615 shares)  $13.57 
Premium Class:   
Net Asset Value, offering price and redemption price per share ($1,745,019,751 ÷ 128,561,149 shares)  $13.57 
Institutional Class:   
Net Asset Value, offering price and redemption price per share ($735,343,795 ÷ 54,158,548 shares)  $13.58 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($1,930,274,030 ÷ 142,110,544 shares)  $13.58 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $56,314,033 
Interest  36,191 
Income from Fidelity Central Funds  832,258 
Income before foreign taxes withheld  57,182,482 
Less foreign taxes withheld  (5,423,573) 
Total income  51,758,909 
Expenses   
Management fee $1,146,783  
Transfer agent fees 441,960  
Independent trustees' fees and expenses 6,996  
Legal 453  
Miscellaneous 5,068  
Total expenses before reductions 1,601,260  
Expense reductions (1,164) 1,600,096 
Net investment income (loss)  50,158,813 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $2,020) (3,249,433)  
Redemptions in-kind with affiliated entities 62,615,780  
Fidelity Central Funds 1,393  
Foreign currency transactions 191,924  
Futures contracts 2,333,284  
Total net realized gain (loss)  61,892,948 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of decrease in deferred foreign taxes of $56,544) (33,746,089)  
Fidelity Central Funds (751)  
Assets and liabilities in foreign currencies (269,909)  
Futures contracts (861,101)  
Total change in net unrealized appreciation (depreciation)  (34,877,850) 
Net gain (loss)  27,015,098 
Net increase (decrease) in net assets resulting from operations  $77,173,911 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $50,158,813 $69,087,197 
Net realized gain (loss) 61,892,948 (12,914,287) 
Change in net unrealized appreciation (depreciation) (34,877,850) 500,936,477 
Net increase (decrease) in net assets resulting from operations 77,173,911 557,109,387 
Distributions to shareholders from net investment income (65,410,878) (36,723,329) 
Distributions to shareholders from net realized gain (7,025,971) (830,683) 
Total distributions (72,436,849) (37,554,012) 
Share transactions - net increase (decrease) 1,255,444,516 933,598,280 
Redemption fees – 37,194 
Total increase (decrease) in net assets 1,260,181,578 1,453,190,849 
Net Assets   
Beginning of period 3,188,072,266 1,734,881,417 
End of period $4,448,253,844 $3,188,072,266 
Other Information   
Undistributed net investment income end of period $40,896,691 $56,148,756 

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


Financial Highlights

Fidelity Global ex U.S. Index Fund Investor Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.48 $11.12 $11.32 $12.28 $12.44 $10.54 
Income from Investment Operations       
Net investment income (loss)A .17 .32 .31 .31 .37B .29 
Net realized and unrealized gain (loss) .22 2.26 (.26)C (.98) (.32) 1.76 
Total from investment operations .39 2.58 .05 (.67) .05 2.05 
Distributions from net investment income (.27) (.21) (.25) (.28) (.18) (.15) 
Distributions from net realized gain (.03) (.01) – (.01) (.03) (.01) 
Total distributions (.30) (.22) (.25) (.29) (.21) (.16) 
Redemption fees added to paid in capitalA – D D D D .01 
Net asset value, end of period $13.57 $13.48 $11.12 $11.32 $12.28 $12.44 
Total ReturnE,F 2.94% 23.61% .56% (5.49)% .46% 19.79% 
Ratios to Average Net AssetsG,H       
Expenses before reductions .17%I .18% .27% .34% .34% .34% 
Expenses net of fee waivers, if any .17%I .18% .19% .22% .22% .23% 
Expenses net of all reductions .17%I .18% .19% .22% .22% .23% 
Net investment income (loss) 2.54%I 2.64% 2.87% 2.66% 3.00%B 2.59% 
Supplemental Data       
Net assets, end of period (000 omitted) $37,616 $45,439 $37,465 $18,132 $15,309 $10,037 
Portfolio turnover rateJ 3%I,K 9% 1%K 1% 1% 6% 

 A Calculated based on average shares outstanding during the period.

 B Net 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%.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 D Amount represents less than $.005 per share.

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

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

 G 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.

 H 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.

 I Annualized

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

 K Portfolio turnover rate excludes securities received or delivered in-kind.


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


Fidelity Global ex U.S. Index Fund Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.49 $11.12 $11.32 $12.29 $12.44 $10.54 
Income from Investment Operations       
Net investment income (loss)A .18 .33 .32 .32 .38B .30 
Net realized and unrealized gain (loss) .21 2.26 (.27)C (1.00) (.31) 1.76 
Total from investment operations .39 2.59 .05 (.68) .07 2.06 
Distributions from net investment income (.28) (.22) (.25) (.28) (.19) (.16) 
Distributions from net realized gain (.03) (.01) – (.01) (.03) (.01) 
Total distributions (.31) (.22)D (.25) (.29) (.22) (.17) 
Redemption fees added to paid in capitalA – E E E E .01 
Net asset value, end of period $13.57 $13.49 $11.12 $11.32 $12.29 $12.44 
Total ReturnF,G 2.94% 23.79% .64% (5.53)% .59% 19.88% 
Ratios to Average Net AssetsH,I       
Expenses before reductions .10%J .11% .21% .28% .28% .28% 
Expenses net of fee waivers, if any .10%J .11% .12% .17% .18% .18% 
Expenses net of all reductions .10%J .11% .12% .17% .18% .18% 
Net investment income (loss) 2.61%J 2.71% 2.95% 2.71% 3.04%B 2.64% 
Supplemental Data       
Net assets, end of period (000 omitted) $1,745,020 $1,565,118 $774,360 $563,796 $485,998 $281,895 
Portfolio turnover rateK 3%J,L 9% 1%L 1% 1% 6% 

 A Calculated based on average shares outstanding during the period.

 B Net 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 2.67%.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 D Total distributions of $.22 per share is comprised of distributions from net investment income of $.219 and distributions from net realized gain of $.005 per share.

 E Amount represents less than $.005 per share.

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

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

 H 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.

 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.

 J Annualized

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

 L Portfolio turnover rate excludes securities received or delivered in-kind.


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


Fidelity Global ex U.S. Index Fund Institutional Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.49 $11.13 $11.33 $12.29 $12.45 $10.55 
Income from Investment Operations       
Net investment income (loss)A .18 .33 .32 .33 .39B .31 
Net realized and unrealized gain (loss) .22 2.26 (.26)C (.99) (.33) 1.76 
Total from investment operations .40 2.59 .06 (.66) .06 2.07 
Distributions from net investment income (.28) (.22) (.26) (.29) (.20) (.17) 
Distributions from net realized gain (.03) (.01) – (.01) (.03) (.01) 
Total distributions (.31) (.23) (.26) (.30) (.22)D (.18) 
Redemption fees added to paid in capitalA – E E E E .01 
Net asset value, end of period $13.58 $13.49 $11.13 $11.33 $12.29 $12.45 
Total ReturnF,G 3.03% 23.70% .66% (5.40)% .56% 19.94% 
Ratios to Average Net AssetsH,I       
Expenses before reductions .08%J .09% .17% .23% .23% .23% 
Expenses net of fee waivers, if any .08%J .09% .10% .13% .13% .13% 
Expenses net of all reductions .08%J .09% .10% .13% .13% .13% 
Net investment income (loss) 2.63%J 2.73% 2.97% 2.75% 3.09%B 2.69% 
Supplemental Data       
Net assets, end of period (000 omitted) $735,344 $624,633 $278,172 $182,432 $153,983 $66,248 
Portfolio turnover rateK 3%J,L 9% 1%L 1% 1% 6% 

 A Calculated based on average shares outstanding during the period.

 B Net 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 2.72%.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 D 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.

 E Amount represents less than $.005 per share.

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

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

 H 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.

 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.

 J Annualized

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

 L Portfolio turnover rate excludes securities received or delivered in-kind.


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


Fidelity Global ex U.S. Index Fund Institutional Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2018 2017 2016 2015 2014 2013 
Selected Per–Share Data       
Net asset value, beginning of period $13.50 $11.13 $11.33 $12.30 $12.45 $10.56 
Income from Investment Operations       
Net investment income (loss)A .18 .33 .32 .33 .39B .32 
Net realized and unrealized gain (loss) .21 2.27 (.26)C (1.00) (.31) 1.74 
Total from investment operations .39 2.60 .06 (.67) .08 2.06 
Distributions from net investment income (.28) (.22) (.26) (.29) (.20) (.17) 
Distributions from net realized gain (.03) (.01) – (.01) (.03) (.01) 
Total distributions (.31) (.23) (.26) (.30) (.23) (.18) 
Redemption fees added to paid in capitalA – D D D D .01 
Net asset value, end of period $13.58 $13.50 $11.13 $11.33 $12.30 $12.45 
Total ReturnE,F 2.98% 23.83% .68% (5.45)% .67% 19.87% 
Ratios to Average Net AssetsG,H       
Expenses before reductions .06%I .06% .14% .20% .20% .19% 
Expenses net of fee waivers, if any .06%I .06% .08% .10% .10% .10% 
Expenses net of all reductions .06%I .06% .08% .10% .10% .10% 
Net investment income (loss) 2.65%I 2.75% 2.99% 2.78% 3.12%B 2.72% 
Supplemental Data       
Net assets, end of period (000 omitted) $1,930,274 $952,883 $644,884 $87,972 $74,259 $62,884 
Portfolio turnover rateJ 3%I,K 9% 1%K 1% 1% 6% 

 A Calculated based on average shares outstanding during the period.

 B Net 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 2.75%.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

 D Amount represents less than $.005 per share.

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

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

 G 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.

 H 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.

 I Annualized

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

 K Portfolio turnover rate excludes securities received or delivered in-kind.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity Emerging Markets Index Fund and Fidelity Global ex U.S. Index Fund (the Funds) are funds of Fidelity Salem Street Trust (the Trust) 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, Premium Class, Institutional Class and Institutional Premium 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 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. 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 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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The 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. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of each Fund's investments to the Fair Value Committee (the Committee) established by each Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing each Fund's investments and ratifies the fair value determinations of the Committee.

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 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. Corporate bonds 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 April 30, 2018, including information on transfers between Levels 1 and 2, is included at the end of each applicable 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.

Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and for certain Funds include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

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.

Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. Fidelity Emerging Markets Index Fund and Fidelity 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 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.

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), market discount, partnerships, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:

 Tax cost Gross unrealized appreciation Gross unrealized depreciation Net unrealized appreciation (depreciation) 
Fidelity Emerging Markets Index Fund $1,395,578,660 $391,132,545 $(89,486,105) $301,646,440 
Fidelity Global ex U.S. Index Fund 4,052,052,430 641,408,688 (213,217,125) 428,191,563 

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 prior fiscal period end and is subject to adjustment.

 No expiration    
 Short-term Long-term Total no expiration Total capital loss carryforward 
Fidelity Emerging Markets Index Fund $(17,151,687) $(39,182,558) $(56,334,245) $(56,334,245) 

Short-Term Trading (Redemption) Fees. Shares held by investors in Fidelity Emerging Markets Index less than 90 days may be subject to a redemption fee equal to 1.50% of the NAV of shares redeemed from Fidelity Emerging Markets Index. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by Fidelity Emerging Markets Index and accounted for as an addition to paid in capital. In November 2017, the Board of Trustees approved the elimination of these redemption fees effective December 18, 2017.

Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in each applicable Fund's Schedule of Investments. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. 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.

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.

A summary of the value of derivatives by primary risk exposure as of period end 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

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

 Purchases ($) Sales ($) 
Fidelity Emerging Markets Index Fund 224,646,129 18,345,825 
Fidelity Global ex U.S. Index Fund 1,351,520,177 56,575,700 

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 .08% and .06% of average net assets for Fidelity Emerging Markets Index Fund and Fidelity 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:

Fidelity Emerging Markets Index Fund  
Investor Class .29% 
Premium Class .13% 
Institutional Class .10% 
Institutional Premium Class .08% 
Fidelity Global ex U.S. Index Fund  
Investor Class .17% 
Premium Class .10% 
Institutional Class .08% 
Institutional Premium Class .06% 

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 annual rates based on class-level average net assets as noted in the table below. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Under the expense contract, each class pays all or a portion of the transfer agent fees at annual rates based on class-level average net assets as noted in the table below and each Fund's Institutional Premium Class does not pay transfer agent fees.

 Received by FIIOC Paid by Class 
Fidelity Emerging Markets Index Fund   
Investor Class .21% .21% 
Premium Class .11% .05% 
Institutional Class .035% .02% 
Institutional Premium Class .015% – 
Fidelity Global ex U.S. Index Fund   
Investor Class .21% .11% 
Premium Class .11% .04% 
Institutional Class .035% .02% 
Institutional Premium Class .015% – 

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

 Amount % of Class-Level Average Net Assets 
Fidelity Emerging Markets Index Fund   
Investor Class $40,730 .21 
Premium Class 257,572 .05 
Institutional Class 28,768 .02 
Institutional Premium Class – – 
 $327,070  
Fidelity Global ex U.S. Index Fund   
Investor Class $24,555 .11 
Premium Class 349,501 .04 
Institutional Class 67,904 .02 
Institutional Premium Class – – 
 $441,960  

Interfund Trades. The Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

Redemptions In-Kind. During the period, 13,347,660 shares of the Fidelity Global ex U.S. Index Fund held by an affiliated entity were redeemed in-kind for investments and cash with a value of $181,394,705. The net realized gain of $62,615,780 on investments delivered through in-kind redemptions is included in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets as well as the Notes to Financial Statements. The Fidelity Global ex U.S. Index Fund recognized no gain or loss for federal income tax purposes.

Exchanges In-Kind. During the period, an affiliated entity completed an exchange in-kind with the Fidelity Global ex U.S. Index Fund. The affiliated entity delivered investments and cash valued at $621,987,634 in exchange for 45,104,252 shares of the Fund. The amount of in-kind exchanges is included in share transactions in the accompanying Statement of Changes in Net Assets as well as the Notes to Financial Statements. The Fidelity Global ex U.S. Index Fund recognized no gain or loss for federal income tax purposes.

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:

Fidelity Emerging Markets Index Fund $2,155 
Fidelity Global ex U.S. Index Fund 5,068 

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. The Funds or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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. Security lending activity was as follows:

 Total Security Lending Income 
Fidelity Emerging Markets Index Fund $86,477 
Fidelity Global ex U.S. Index Fund 210,938 

9. Expense Reductions.

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

 Custody expense reduction 
Fidelity Emerging Markets Index Fund $3,980 
Fidelity Global ex U.S. Index Fund 1,164 

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2018 
Year ended
October 31, 2017 
Fidelity Emerging Markets Index Fund   
From net investment income   
Investor Class $542,014 $290,141 
Premium Class 16,283,663 9,152,994 
Institutional Class 4,613,874 3,191,048 
Institutional Premium Class 3,519,724 4,296 
Total $24,959,275 $12,638,479 
From net realized gain   
Investor Class $42,630 $– 
Premium Class 1,165,199 – 
Institutional Class 324,626 – 
Institutional Premium Class 244,923 – 
Total $1,777,378 $– 
Fidelity Global ex U.S. Index Fund   
From net investment income   
Investor Class $929,725 $710,799 
Premium Class 33,207,121 15,744,134 
Institutional Class 12,513,286 6,109,298 
Institutional Premium Class 18,760,746 14,159,098 
Total $65,410,878 $36,723,329 
From net realized gain   
Investor Class $104,074 $16,844 
Premium Class 3,591,253 359,898 
Institutional Class 1,340,326 138,257 
Institutional Premium Class 1,990,318 315,684 
Total $7,025,971 $830,683 

11. Share Transactions.

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

 Shares Shares Dollars Dollars 
 Six months ended April 30, 2018 Year ended October 31, 2017 Six months ended April 30, 2018 Year ended October 31, 2017 
Fidelity Emerging Markets Index Fund     
Investor Class     
Shares sold 2,474,593 4,595,198 $29,024,418 $44,721,174 
Reinvestment of distributions 50,953 31,357 556,918 270,613 
Shares redeemed (1,932,707) (3,918,080) (22,688,935) (38,590,456) 
Net increase (decrease) 592,839 708,475 $6,892,401 $6,401,331 
Premium Class     
Shares sold 24,852,495 48,728,825 $291,330,520 $475,643,280 
Reinvestment of distributions 1,420,087 970,483 15,521,554 8,365,562 
Shares redeemed (13,338,424) (32,884,562) (154,595,869) (302,310,868) 
Net increase (decrease) 12,934,158 16,814,746 $152,256,205 $181,697,974 
Institutional Class     
Shares sold 11,994,692 13,363,342 $139,855,350 $130,227,940 
Reinvestment of distributions 419,348 348,827 4,587,665 3,010,374 
Shares redeemed (7,725,415) (11,206,364) (93,745,774) (104,613,436) 
Net increase (decrease) 4,688,625 2,505,805 $50,697,241 $28,624,878 
Institutional Premium Class     
Shares sold 2,963,154 18,939,252 $34,517,246 $164,987,276 
Reinvestment of distributions 344,433 498 3,764,647 4,296 
Shares redeemed (1,265,456) (1,806,984) (14,831,362) (18,355,507) 
Net increase (decrease) 2,042,131 17,132,766 $23,450,531 $146,636,065 
Fidelity Global ex U.S. Index Fund     
Investor Class     
Shares sold 1,254,469(a) 3,656,372 $17,137,298(a) $44,410,333 
Reinvestment of distributions 77,311 65,700 1,020,503 720,731 
Shares redeemed (1,930,988) (3,720,974) (26,337,407) (44,830,378) 
Net increase (decrease) (599,208) 1,098 $(8,179,606) $300,686 
Premium Class     
Shares sold 38,940,745(a) 71,331,726 $532,534,913(a) $868,267,163 
Reinvestment of distributions 2,335,974 1,271,346 30,834,860 13,946,668 
Shares redeemed (28,771,493)(b) (26,167,162) (391,322,895)(b) (320,300,835) 
Net increase (decrease) 12,505,226 46,435,910 $172,046,878 $561,912,996 
Institutional Class     
Shares sold 20,879,326(a) 46,688,077 $286,035,989(a) $549,906,665 
Reinvestment of distributions 1,037,349 569,513 13,693,009 6,247,555 
Shares redeemed (14,057,403) (25,958,123) (192,668,992) (326,220,950) 
Net increase (decrease) 7,859,272 21,299,467 $107,060,006 $229,933,270 
Institutional Premium Class     
Shares sold 85,343,585(a) 25,870,791 $1,173,615,636(a) $309,331,694 
Reinvestment of distributions 1,572,050 1,318,286 20,751,064 14,474,782 
Shares redeemed (15,396,777) (14,520,231) (209,849,462) (182,355,148) 
Net increase (decrease) 71,518,858 12,668,846 $984,517,238 $141,451,328 

 (a) Amount includes in-kind exchanges (see the Exchanges In-Kind note for additional details).

 (b) Amount includes in-kind redemptions (see the Redemptions In-Kind note for additional details).


12. 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.

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 (November 1, 2017 to April 30, 2018).

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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Fidelity Emerging Markets Index Fund     
Investor Class .29%    
Actual  $1,000.00 $1,041.20 $1.47 
Hypothetical-C  $1,000.00 $1,023.36 $1.45 
Premium Class .13%    
Actual  $1,000.00 $1,041.90 $.66 
Hypothetical-C  $1,000.00 $1,024.15 $.65 
Institutional Class .10%    
Actual  $1,000.00 $1,041.30 $.51 
Hypothetical-C  $1,000.00 $1,024.30 $.50 
Institutional Premium Class .08%    
Actual  $1,000.00 $1,041.50 $.40 
Hypothetical-C  $1,000.00 $1,024.40 $.40 
Fidelity Global ex U.S. Index Fund     
Investor Class .17%    
Actual  $1,000.00 $1,029.40 $.86 
Hypothetical-C  $1,000.00 $1,023.95 $.85 
Premium Class .10%    
Actual  $1,000.00 $1,029.40 $.50 
Hypothetical-C  $1,000.00 $1,024.30 $.50 
Institutional Class .08%    
Actual  $1,000.00 $1,030.30 $.40 
Hypothetical-C  $1,000.00 $1,024.40 $.40 
Institutional Premium Class .06%    
Actual  $1,000.00 $1,029.80 $.30 
Hypothetical-C  $1,000.00 $1,024.50 $.30 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/ 365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

EMX-GUX-SANN-0618
1.929363.106


Fidelity® SAI International Minimum Volatility Index Fund

Fidelity® SAI U.S. Minimum Volatility Index Fund
Offered exclusively to certain clients of the Adviser or its affiliates - not available for sale to the general public. Fidelity SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers LLC.



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Fidelity® SAI International Minimum Volatility Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity® SAI U.S. Minimum Volatility Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Funds nor Fidelity Distributors Corporation is a bank.



Fidelity® SAI International Minimum Volatility Index Fund

Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 21.4% 
   Canada 10.6% 
   Switzerland 9.6% 
   Taiwan 7.6% 
   United Kingdom 7.2% 
   Hong Kong 6.9% 
   United States of America* 3.5% 
   Denmark 2.9% 
   China 2.8% 
   Other 27.5% 


 * 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.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Hang Seng Bank Ltd. (Hong Kong, Banks) 1.3 
Chunghwa Telecom Co. Ltd. (Taiwan, Diversified Telecommunication Services) 1.3 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.2 
CLP Holdings Ltd. (Hong Kong, Electric Utilities) 1.2 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 1.1 
Novartis AG (Switzerland, Pharmaceuticals) 1.0 
Compass Group PLC (United Kingdom, Hotels, Restaurants & Leisure) 1.0 
Swisscom AG (Switzerland, Diversified Telecommunication Services) 0.9 
Intact Financial Corp. (Canada, Insurance) 0.9 
DONG Energy A/S (Denmark, Electric Utilities) 0.9 
 10.8 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 21.2 
Consumer Staples 13.6 
Health Care 12.5 
Industrials 10.5 
Telecommunication Services 8.5 
Consumer Discretionary 8.4 
Utilities 6.8 
Information Technology 6.0 
Real Estate 4.2 
Materials 2.8 

Fidelity® SAI International Minimum Volatility Index Fund

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.7%   
 Shares Value 
Australia - 0.1%   
CSL Ltd. 9,072 $1,162,024 
Healthscope Ltd. 11 
Medibank Private Ltd. 11 
The GPT Group unit 15 
Transurban Group unit 
TOTAL AUSTRALIA  1,162,070 
Bailiwick of Jersey - 0.1%   
Randgold Resources Ltd. 21,519 1,744,838 
Belgium - 0.8%   
Colruyt NV 87,647 4,940,729 
Proximus 77,690 2,385,803 
UCB SA 79,444 6,020,979 
TOTAL BELGIUM  13,347,511 
Bermuda - 1.4%   
Alibaba Pictures Group Ltd. (a) 11,620,000 1,308,953 
Cheung Kong Infrastructure Holdings Ltd. 968,500 7,643,800 
Cosco Shipping Ports Ltd. 773,080 679,905 
Credicorp Ltd. (United States) 21,450 4,986,911 
Jardine Matheson Holdings Ltd. 23,137 1,401,032 
Jardine Strategic Holdings Ltd. 60,555 2,291,725 
Sihuan Pharmaceutical Holdings Group Ltd. 4,333,000 1,047,234 
Yue Yuen Industrial (Holdings) Ltd. 1,084,500 3,073,436 
TOTAL BERMUDA  22,432,996 
Canada - 10.2%   
Bank of Montreal 180,535 13,710,789 
Bank of Nova Scotia 183,018 11,249,488 
Barrick Gold Corp. 156,632 2,108,027 
BCE, Inc. 223,673 9,492,536 
Canadian Imperial Bank of Commerce 142,694 12,428,420 
Canadian Tire Ltd. Class A (non-vtg.) 28,002 3,816,184 
CCL Industries, Inc. Class B 20,764 1,007,190 
Constellation Software, Inc. 4,670 3,337,616 
Dollarama, Inc. 8,371 963,615 
Emera, Inc. 45,229 1,408,706 
Fairfax Financial Holdings Ltd. (sub. vtg.) 9,375 5,190,258 
Franco-Nevada Corp. 91,592 6,496,580 
George Weston Ltd. 42,799 3,506,388 
Great-West Lifeco, Inc. 110,274 2,939,896 
Hydro One Ltd. (b) 435,018 6,908,382 
Intact Financial Corp. 197,499 15,059,116 
Jean Coutu Group, Inc. Class A (sub. vtg.) 74,439 1,425,644 
Loblaw Companies Ltd. 79,326 4,034,416 
Metro, Inc. Class A (sub. vtg.) 157,291 4,990,876 
National Bank of Canada 23,305 1,106,849 
Open Text Corp. 23,210 819,432 
RioCan (REIT) 108,659 1,976,080 
Rogers Communications, Inc. Class B (non-vtg.) 127,534 6,020,356 
Royal Bank of Canada 158,971 12,089,200 
Shaw Communications, Inc. Class B 273,690 5,625,359 
TELUS Corp. 276,144 9,882,641 
The Toronto-Dominion Bank 175,596 9,861,932 
Thomson Reuters Corp. 196,465 7,900,220 
TransCanada Corp. 87,110 3,693,499 
TOTAL CANADA  169,049,695 
Cayman Islands - 1.9%   
Alibaba Group Holding Ltd. sponsored ADR (a)(c) 21,596 3,855,750 
Anta Sports Products Ltd. 219,000 1,249,656 
Baidu.com, Inc. sponsored ADR (a) 3,424 859,082 
China Huishan Dairy Holdings Co. Ltd. (a)(d) 5,145,000 137,661 
China Medical System Holdings Ltd. 384,000 940,330 
Fullshare Holdings Ltd. 6,980,000 3,806,159 
Kingboard Chemical Holdings Ltd. 135,500 551,254 
NetEase, Inc. ADR 2,263 581,749 
Shenzhou International Group Holdings Ltd. 678,499 7,406,655 
Tencent Holdings Ltd. 194,800 9,576,938 
WH Group Ltd. (b) 2,146,500 2,222,219 
TOTAL CAYMAN ISLANDS  31,187,453 
Chile - 0.9%   
Banco de Chile 36,329,616 6,001,826 
Banco de Credito e Inversiones 36,051 2,728,629 
Colbun SA 175 44 
S.A.C.I. Falabella 703,004 6,818,460 
TOTAL CHILE  15,548,959 
China - 2.8%   
Agricultural Bank of China Ltd. (H Shares) 13,857,000 7,812,750 
Bank of China Ltd. (H Shares) 5,906,000 3,205,961 
China CITIC Bank Corp. Ltd. (H Shares) 2,190,000 1,565,518 
China Construction Bank Corp. (H Shares) 9,072,000 9,504,363 
China Huarong Asset Management Co. Ltd. 2,017,000 694,672 
China Petroleum & Chemical Corp. (H Shares) 2,078,000 2,023,680 
China Telecom Corp. Ltd. (H Shares) 3,132,000 1,518,181 
Guangzhou Automobile Group Co. Ltd. (H Shares) 372,000 681,398 
Industrial & Commercial Bank of China Ltd. (H Shares) 7,604,000 6,675,412 
Jiangsu Expressway Co. Ltd. (H Shares) 1,786,000 2,448,827 
PetroChina Co. Ltd. (H Shares) 1,794,000 1,321,943 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 2,248,000 1,381,483 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 1,338,626 1,914,645 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 5,108,000 3,391,760 
Zijin Mng Group Co. Ltd. (H Shares) 4,808,000 2,180,903 
TOTAL CHINA  46,321,496 
Czech Republic - 0.1%   
Komercni Banka A/S 27,586 1,190,928 
MONETA Money Bank A/S (b) 245,700 884,516 
TOTAL CZECH REPUBLIC  2,075,444 
Denmark - 2.9%   
Christian Hansen Holding A/S 45,930 4,177,823 
Coloplast A/S Series B 39,670 3,360,590 
Danske Bank A/S 30,598 1,068,254 
DONG Energy A/S (b) 225,286 14,865,217 
DSV de Sammensluttede Vognmaend A/S 42,255 3,357,963 
H Lundbeck A/S 101,747 5,920,413 
ISS Holdings A/S 118,930 4,163,716 
Novo Nordisk A/S Series B 59,433 2,795,012 
Tryg A/S 36,743 872,465 
William Demant Holding A/S (a) 170,298 6,657,678 
TOTAL DENMARK  47,239,131 
Egypt - 0.1%   
Commercial International Bank SAE 279,279 1,490,912 
Commercial International Bank SAE sponsored GDR 30,534 156,639 
TOTAL EGYPT  1,647,551 
Finland - 0.5%   
Neste Oyj 46,922 3,960,744 
Orion Oyj (B Shares) 20,544 624,689 
Sampo Oyj (A Shares) 77,359 4,180,488 
TOTAL FINLAND  8,765,921 
France - 2.5%   
Aeroports de Paris 35,817 7,889,276 
Atos Origin SA 12,866 1,738,588 
Danone SA 30,446 2,466,303 
Dassault Systemes SA 11,811 1,529,703 
Essilor International SA 19,834 2,707,721 
Hermes International SCA 8,369 5,415,011 
L'Oreal SA 31,429 7,547,085 
Sanofi SA 34,209 2,704,643 
SCOR SE 41 
SEB SA 4,944 948,692 
Sodexo SA 27,470 2,720,311 
Thales SA 27,668 3,508,247 
Total SA 24,069 1,512,779 
TOTAL FRANCE  40,688,400 
Germany - 2.0%   
Beiersdorf AG 8,242 934,789 
Fresenius Medical Care AG & Co. KGaA 53,187 5,396,931 
Innogy SE (b) 157,793 6,960,822 
MAN SE 51,497 5,938,933 
Merck KGaA 8,081 792,595 
Muenchener Rueckversicherungs AG 3,890 892,302 
SAP SE 26,370 2,929,857 
TUI AG (GB) 241,283 5,465,928 
Uniper SE 143,792 4,457,421 
TOTAL GERMANY  33,769,578 
Hong Kong - 6.9%   
China Mobile Ltd. 906,000 8,631,006 
China Resources Beer Holdings Co. Ltd. 990,000 4,263,859 
China Resources Pharmaceutical Group Ltd. 2,755,000 3,808,676 
CLP Holdings Ltd. 1,825,000 18,950,946 
CNOOC Ltd. 576,000 974,427 
CSPC Pharmaceutical Group Ltd. 2,502,000 6,372,741 
Guangdong Investment Ltd. 2,940,000 4,550,629 
Hang Seng Bank Ltd. 862,300 21,841,991 
Hong Kong & China Gas Co. Ltd. 5,366,178 11,212,342 
Link (REIT) 1,002,000 8,855,805 
MTR Corp. Ltd. 2,192,511 12,319,194 
Power Assets Holdings Ltd. 1,312,000 9,762,387 
Techtronic Industries Co. Ltd. 392,500 2,299,340 
TOTAL HONG KONG  113,843,343 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 191,117 2,208,467 
India - 2.7%   
Asian Paints Ltd. 155,736 2,810,230 
Bharat Petroleum Corp. Ltd. 277,380 1,611,696 
Britannia Industries Ltd. 42,108 3,491,893 
Cipla Ltd. (a) 260,375 2,371,830 
Dabur India Ltd. 672,855 3,731,177 
Grasim Industries Ltd. 58,255 955,167 
HCL Technologies Ltd. 114,768 1,814,422 
Hindustan Unilever Ltd. 153,908 3,482,722 
Housing Development Finance Corp. Ltd. 130,101 3,680,951 
Indian Oil Corp. Ltd. 335,248 815,037 
Infosys Ltd. 173,033 3,115,621 
Lupin Ltd. (a) 87,878 1,070,355 
Maruti Suzuki India Ltd. 24,549 3,245,449 
Nestle India Ltd. 9,144 1,292,002 
Petronet LNG Ltd. 657,603 2,238,938 
Piramal Enterprises Ltd. (a) 19,411 757,055 
Reliance Industries Ltd. 114,085 1,647,205 
Sun Pharmaceutical Industries Ltd. 142,962 1,134,153 
Tata Consultancy Services Ltd. 38,682 2,051,423 
Vakrangee Ltd. 446,711 669,596 
Wipro Ltd. 568,950 2,371,180 
TOTAL INDIA  44,358,102 
Indonesia - 1.4%   
PT AKR Corporindo Tbk 1,578,000 552,549 
PT Bank Central Asia Tbk 4,953,800 7,833,359 
PT Bank Rakyat Indonesia Tbk 14,234,000 3,281,912 
PT Hanjaya Mandala Sampoerna Tbk 8,336,900 2,112,526 
PT Indofood CBP Sukses Makmur Tbk 1,632,900 1,014,461 
PT Indofood Sukses Makmur Tbk 2,542,100 1,270,975 
PT Kalbe Farma Tbk 11,786,400 1,272,395 
PT Telekomunikasi Indonesia Tbk Series B 10,736,300 2,929,663 
PT Unilever Indonesia Tbk 709,000 2,356,474 
PT Waskita Karya Persero Tbk 4,900,000 774,041 
TOTAL INDONESIA  23,398,355 
Ireland - 0.9%   
Kerry Group PLC Class A 81,345 8,300,623 
Paddy Power Betfair PLC (Ireland) 7,764 768,347 
Ryanair Holdings PLC sponsored ADR (a) 45,275 4,978,892 
TOTAL IRELAND  14,047,862 
Israel - 0.8%   
Azrieli Group 49,877 2,288,082 
Bank Hapoalim BM (Reg.) 397,083 2,720,812 
Bank Leumi le-Israel BM 629,733 3,727,007 
Check Point Software Technologies Ltd. (a)(c) 22,639 2,184,890 
Mizrahi Tefahot Bank Ltd. 134,660 2,466,119 
TOTAL ISRAEL  13,386,910 
Italy - 0.4%   
Snam Rete Gas SpA 1,316,426 6,335,018 
Japan - 21.4%   
ABC-MART, Inc. 48,200 3,178,943 
Ajinomoto Co., Inc. 199,300 3,657,115 
All Nippon Airways Ltd. 169,600 6,733,114 
Asahi Group Holdings 91,200 4,618,397 
Astellas Pharma, Inc. 671,300 9,818,591 
Benesse Holdings, Inc. 104,800 3,825,027 
Canon, Inc. 302,900 10,419,516 
Chugai Pharmaceutical Co. Ltd. 70,300 3,716,923 
Coca-Cola West Co. Ltd. 25,600 1,102,964 
Daiichi Sankyo Kabushiki Kaisha 151,200 5,186,608 
Dainippon Sumitomo Pharma Co. Ltd. 115,000 2,098,655 
Daito Trust Construction Co. Ltd. 39,200 6,545,884 
Daiwa House REIT Investment Corp. 323 771,158 
East Japan Railway Co. 35,200 3,377,680 
Eisai Co. Ltd. 52,300 3,513,936 
FamilyMart Co. Ltd. (c) 100,800 9,801,537 
Hankyu Hanshin Holdings, Inc. 25,400 1,002,570 
Hisamitsu Pharmaceutical Co., Inc. 51,000 3,979,418 
Idemitsu Kosan Co. Ltd. 64,000 2,508,599 
Japan Airlines Co. Ltd. 170,600 6,725,997 
Japan Prime Realty Investment Corp. 1,214 4,408,690 
Japan Real Estate Investment Corp. 656 3,408,416 
Japan Retail Fund Investment Corp. 613 1,149,515 
Japan Tobacco, Inc. 56,100 1,506,931 
Kajima Corp. 597,000 5,761,389 
Kao Corp. 31,400 2,256,193 
Keihin Electric Express Railway Co. Ltd. 224,600 4,123,419 
Keyence Corp. 11,300 6,922,439 
Kirin Holdings Co. Ltd. 371,300 10,437,293 
Konami Holdings Corp. 70,800 3,484,303 
Kyowa Hakko Kirin Co., Ltd. 47,600 1,033,685 
Kyushu Railway Co. 233,800 7,506,751 
Lawson, Inc. 73,300 4,847,777 
McDonald's Holdings Co. (Japan) Ltd. 97,200 4,552,360 
Meiji Holdings Co. Ltd. 54,200 4,353,055 
Mitsubishi Tanabe Pharma Corp. 328,200 6,256,575 
Nagoya Railroad Co. Ltd. 214,600 5,635,900 
New Hampshire Foods Ltd. 105,400 4,613,419 
Nikon Corp. 46,900 818,562 
Nippon Building Fund, Inc. 296 1,665,203 
Nippon Prologis REIT, Inc. 2,696 5,679,554 
Nippon Telegraph & Telephone Corp. 208,700 9,903,898 
Nissin Food Holdings Co. Ltd. 85,800 6,318,057 
Nitori Holdings Co. Ltd. 48,200 8,147,969 
Nomura Real Estate Master Fund, Inc. 4,818 6,729,863 
Nomura Research Institute Ltd. 47,414 2,450,504 
NTT Data Corp. 411,800 4,441,202 
NTT DOCOMO, Inc. 394,700 10,196,684 
Obayashi Corp. 218,800 2,525,847 
Oracle Corp. Japan 56,000 4,610,318 
Oriental Land Co. Ltd. 87,300 8,716,424 
Osaka Gas Co. Ltd. 112,900 2,431,089 
Otsuka Corp. 152,700 7,123,765 
Otsuka Holdings Co. Ltd. 226,300 11,865,638 
Park24 Co. Ltd. 138,300 3,921,789 
Recruit Holdings Co. Ltd. 426,000 9,847,256 
Ryohin Keikaku Co. Ltd. 4,200 1,442,645 
Sankyo Co. Ltd. (Gunma) 65,500 2,303,764 
Santen Pharmaceutical Co. Ltd. 152,100 2,567,001 
Secom Co. Ltd. 82,400 6,182,261 
Shimamura Co. Ltd. 20,800 2,425,906 
Shionogi & Co. Ltd. 35,300 1,819,248 
Showa Shell Sekiyu K.K. 84,500 1,195,769 
Suntory Beverage & Food Ltd. 203,200 10,018,734 
Taisei Corp. 52,800 2,854,446 
Taisho Pharmaceutical Holdings Co. Ltd. 46,100 4,423,610 
Takeda Pharmaceutical Co. Ltd. 205,300 8,645,193 
Terumo Corp. 39,300 2,228,869 
Tobu Railway Co. Ltd. 141,200 4,507,757 
Toray Industries, Inc. 213,400 1,991,998 
Toyo Suisan Kaisha Ltd. 129,600 5,109,550 
Tsuruha Holdings, Inc. 14,600 2,100,787 
United Urban Investment Corp. 1,748 2,683,081 
USS Co. Ltd. 59,600 1,254,479 
West Japan Railway Co. 15,500 1,098,838 
Yamada Denki Co. Ltd. (c) 918,000 4,820,088 
Yamazaki Baking Co. Ltd. 85,800 1,882,075 
TOTAL JAPAN  353,790,463 
Korea (South) - 1.2%   
Db Insurance Co. Ltd. 26,198 1,538,720 
Hanmi Science Co. Ltd. 8,676 630,290 
Kangwon Land, Inc. 32,812 885,465 
KT Corp. 33,242 842,936 
KT Corp. sponsored ADR 25,100 337,093 
KT&G Corp. 49,503 4,520,759 
S1 Corp. 24,989 2,289,069 
Samsung Fire & Marine Insurance Co. Ltd. 10,396 2,596,755 
Samsung Life Insurance Co. Ltd. 7,080 773,500 
SK Hynix, Inc. 13,987 1,103,627 
SK Telecom Co. Ltd. 17,729 3,777,861 
TOTAL KOREA (SOUTH)  19,296,075 
Luxembourg - 0.2%   
RTL Group SA 30,994 2,554,485 
Malaysia - 1.9%   
Hong Leong Bank Bhd 950,300 4,583,869 
IHH Healthcare Bhd (b) 1,310,200 2,025,235 
Malayan Banking Bhd 3,313,915 9,089,627 
PPB Group Bhd 195,100 955,138 
Public Bank Bhd 2,030,900 12,295,189 
Telekom Malaysia Bhd 713,300 959,945 
Tenaga Nasional Bhd 441,000 1,776,669 
TOTAL MALAYSIA  31,685,672 
Multi-National - 0.7%   
HK Electric Investments & HK Electric Investments Ltd. unit 3,874,000 3,602,142 
HKT Trust/HKT Ltd. unit 5,533,000 7,279,690 
TOTAL MULTI-NATIONAL  10,881,832 
Netherlands - 0.2%   
Koninklijke Ahold Delhaize NV 117,166 2,830,501 
NN Group NV 48 
TOTAL NETHERLANDS  2,830,549 
New Zealand - 0.3%   
Auckland International Airport Ltd. 242,184 1,087,156 
Meridian Energy Ltd. 535,872 1,108,496 
Ryman Healthcare Group Ltd. 360,605 2,689,450 
Spark New Zealand Ltd. 361,156 879,218 
TOTAL NEW ZEALAND  5,764,320 
Pakistan - 0.0%   
MCB Bank Ltd. 466,200 842,484 
Philippines - 0.8%   
Aboitiz Equity Ventures, Inc. 565,780 761,323 
Aboitiz Power Corp. 2,150,400 1,578,622 
Bank of the Philippine Islands (BPI) 1,324,098 2,684,120 
BDO Unibank, Inc. 2,170,603 5,514,026 
Jollibee Food Corp. 204,580 1,126,006 
Universal Robina Corp. 283,160 769,650 
TOTAL PHILIPPINES  12,433,747 
Qatar - 0.5%   
Qatar Electricity & Water Co. 17,167 933,553 
Qatar National Bank SAQ 157,593 6,535,716 
TOTAL QATAR  7,469,269 
Singapore - 2.7%   
Ascendas Real Estate Investment Trust 398,600 799,628 
CapitaCommercial Trust (REIT) 3,682,700 5,031,296 
CapitaMall Trust 3,627,000 5,727,641 
DBS Group Holdings Ltd. 162,623 3,752,052 
Oversea-Chinese Banking Corp. Ltd. 521,220 5,383,467 
Singapore Airlines Ltd. 789,000 6,437,742 
Singapore Airport Terminal Service Ltd. 985,600 4,095,559 
Singapore Exchange Ltd. 140,500 814,763 
Singapore Press Holdings Ltd. 1,604,800 3,279,306 
Singapore Telecommunications Ltd. 3,042,600 8,047,969 
United Overseas Bank Ltd. 84,365 1,910,380 
TOTAL SINGAPORE  45,279,803 
South Africa - 0.0%   
Fortress (REIT) Ltd. Class A 14 19 
Sweden - 0.1%   
Swedish Match Co. AB 22,364 1,006,254 
Switzerland - 9.6%   
Baloise Holdings AG 30,569 4,864,512 
Barry Callebaut AG 3,064 5,525,094 
Ems-Chemie Holding AG 4,699 2,916,130 
Geberit AG (Reg.) 1,807 774,220 
Givaudan SA 1,944 4,352,912 
Kuehne & Nagel International AG 52,524 8,215,156 
Lindt & Spruengli AG 86 6,543,290 
Lindt & Spruengli AG (participation certificate) 1,448 9,322,139 
Nestle SA (Reg. S) 260,524 20,182,819 
Novartis AG 208,967 16,085,092 
Partners Group Holding AG 4,065 2,980,043 
Roche Holding AG (participation certificate) 79,771 17,724,117 
Schindler Holding AG (Reg.) 5,033 1,011,171 
SGS SA (Reg.) 1,241 3,026,738 
Sika AG 968 7,062,200 
Sonova Holding AG Class B 76,484 12,672,727 
Straumann Holding AG 3,260 2,228,708 
Swiss Life Holding AG 4,679 1,645,440 
Swiss Prime Site AG 90,665 8,512,995 
Swiss Re Ltd. 79,194 7,564,585 
Swisscom AG 32,834 15,804,054 
TOTAL SWITZERLAND  159,014,142 
Taiwan - 7.6%   
ASUSTeK Computer, Inc. 527,000 4,916,422 
Chang Hwa Commercial Bank 6,877,391 3,951,876 
China Airlines Ltd. (a) 3,838,000 1,397,535 
Chinatrust Financial Holding Co. Ltd. 5,668,700 4,035,547 
Chunghwa Telecom Co. Ltd. 5,555,000 21,099,717 
E.SUN Financial Holdings Co. Ltd. 5,775,519 4,076,947 
EVA Airways Corp. 3,049,689 1,634,751 
Far EasTone Telecommunications Co. Ltd. 2,333,000 6,161,549 
First Financial Holding Co. Ltd. 13,389,660 9,189,186 
Formosa Petrochemical Corp. 933,000 3,800,219 
Formosa Taffeta Co. Ltd. 773,000 872,460 
Fubon Financial Holding Co. Ltd. 581,000 992,248 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 1,252,300 3,476,955 
Hua Nan Financial Holdings Co. Ltd. 10,493,161 6,334,322 
Lite-On Technology Corp. 1,094,428 1,441,663 
Mega Financial Holding Co. Ltd. 10,670,789 9,403,566 
Nanya Technology Corp. 619,000 1,923,461 
President Chain Store Corp. 344,000 3,375,348 
Sinopac Holdings Co. 6,860,182 2,464,372 
Standard Foods Corp. 422,347 945,515 
Synnex Technology International Corp. 1,063,750 1,525,053 
Taishin Financial Holdings Co. Ltd. 2,172,388 1,053,738 
Taiwan Business Bank 5,390,594 1,653,636 
Taiwan Cooperative Financial Holding Co. Ltd. 11,591,024 6,723,174 
Taiwan High Speed Rail Corp. 2,468,000 1,892,312 
Taiwan Mobile Co. Ltd. 2,350,000 8,662,958 
Taiwan Semiconductor Manufacturing Co. Ltd. 1,558,000 11,846,798 
Winbond Electronics Corp. 861,000 526,042 
TOTAL TAIWAN  125,377,370 
Thailand - 1.7%   
Airports of Thailand PCL (For. Reg.) 3,231,800 7,269,523 
Bangkok Dusit Medical Services PCL (For. Reg.) 2,493,700 1,775,826 
Bangkok Expressway and Metro PCL 10,936,400 2,679,292 
BTS Group Holdings PCL 9,234,800 2,602,330 
Bumrungrad Hospital PCL (For. Reg.) 256,300 1,538,300 
C.P. ALL PCL (For. Reg.) 546,500 1,503,148 
Electricity Generating PCL (For. Reg.) 192,100 1,354,008 
Glow Energy PCL (For. Reg.) 392,400 1,068,555 
Kasikornbank PCL 14,100 89,367 
Kasikornbank PCL (For. Reg.) 339,700 2,153,042 
Krung Thai Bank PCL (For. Reg.) 5,100,300 2,928,885 
Siam Cement PCL (For. Reg.) 213,200 3,152,623 
TOTAL THAILAND  28,114,899 
United Arab Emirates - 0.5%   
DP World Ltd. 64,886 1,443,714 
Dubai Islamic Bank Pakistan Ltd. 512,697 767,688 
Emirates Telecommunications Corp. 567,263 2,648,561 
National Bank of Abu Dhabi PJSC 1,024,152 3,457,383 
TOTAL UNITED ARAB EMIRATES  8,317,346 
United Kingdom - 7.2%   
Admiral Group PLC 92,269 2,531,643 
AstraZeneca PLC (United Kingdom) 114,504 8,015,552 
British American Tobacco PLC (United Kingdom) 105,977 5,812,575 
Bunzl PLC 126,062 3,663,631 
Carnival PLC 54,239 3,525,283 
Centrica PLC 
Compass Group PLC 747,907 16,062,440 
Diageo PLC 323,408 11,537,481 
Direct Line Insurance Group PLC 211,822 1,091,516 
Fresnillo PLC 18 
GlaxoSmithKline PLC 485,672 9,741,205 
HSBC Holdings PLC (United Kingdom) 309,884 3,085,200 
Imperial Tobacco Group PLC 172,635 6,190,027 
Kingfisher PLC 665,707 2,776,287 
National Grid PLC 1,268,333 14,716,249 
Reckitt Benckiser Group PLC 94,391 7,404,793 
RELX PLC 387,767 8,298,525 
Royal Mail PLC 414,762 3,318,669 
Scottish & Southern Energy PLC 103,381 1,962,027 
Severn Trent PLC 73,335 1,958,630 
Smith & Nephew PLC 187,959 3,599,611 
United Utilities Group PLC 148,499 1,519,387 
Vodafone Group PLC 692,545 2,020,995 
TOTAL UNITED KINGDOM  118,831,746 
United States of America - 0.6%   
Yum China Holdings, Inc. 213,584 9,132,852 
TOTAL COMMON STOCKS   
(Cost $1,376,123,972)  1,595,182,427 
Nonconvertible Preferred Stocks - 0.0%   
Colombia - 0.0%   
Grupo Aval Acciones y Valores SA   
(Cost $26) 82 36 
 Principal Amount Value 
Government Obligations - 0.3%   
United States of America - 0.3%   
U.S. Treasury Bills, yield at date of purchase 1.31% to 1.72% 5/10/18 to 8/9/18
(Cost $3,994,286)(e) 
4,000,000 3,993,714 
 Shares Value 
Money Market Funds - 3.2%   
Fidelity Cash Central Fund, 1.74% (f) 35,007,475 35,014,477 
Fidelity Securities Lending Cash Central Fund 1.74% (f)(g) 18,287,733 18,289,561 
TOTAL MONEY MARKET FUNDS   
(Cost $53,304,063)  53,304,038 
TOTAL INVESTMENT IN SECURITIES - 100.2%   
(Cost $1,433,422,347)  1,652,480,215 
NET OTHER ASSETS (LIABILITIES) - (0.2)%  (2,854,802) 
NET ASSETS - 100%  $1,649,625,413 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 332 June 2018 $33,639,900 $206,764 $206,764 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 261 June 2018 15,036,210 (141,391) (141,391) 
TME S&P/TSX 60 Index Contracts (Canada) 41 June 2018 5,874,980 99,939 99,939 
TOTAL FUTURES CONTRACTS     $165,312 

The notional amount of futures purchased as a percentage of Net Assets is 3.3%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $51,944,339

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

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $33,866,391 or 2.1% of net assets.

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

 (d) Level 3 security

 (e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,382,332.

 (f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (g) Investment made with cash collateral received from securities on loan.


Affiliated Central Funds

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 $376,626 
Fidelity Securities Lending Cash Central Fund 25,402 
Total $402,028 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $133,507,545 $99,943,005 $33,564,540 $-- 
Consumer Staples 224,571,237 144,242,498 80,191,078 137,661 
Energy 35,848,020 19,902,096 15,945,924 -- 
Financials 351,278,579 181,019,080 170,259,499 -- 
Health Care 204,179,601 89,635,416 114,544,185 -- 
Industrials 176,500,988 127,263,339 49,237,649 -- 
Information Technology 104,199,169 45,042,968 59,156,201 -- 
Materials 44,348,399 28,120,880 16,227,519 -- 
Real Estate 71,953,729 45,818,521 26,135,208 -- 
Telecommunication Services 139,483,314 47,450,262 92,033,052 -- 
Utilities 109,311,882 45,849,755 63,462,127 -- 
Government Obligations 3,993,714 -- 3,993,714 -- 
Money Market Funds 53,304,038 53,304,038 -- -- 
Total Investments in Securities: $1,652,480,215 $927,591,858 $724,750,696 $137,661 
Derivative Instruments:     
Assets     
Futures Contracts $306,703 $306,703 $-- $-- 
Total Assets $306,703 $306,703 $-- $-- 
Liabilities     
Futures Contracts $(141,391) $(141,391) $-- $-- 
Total Liabilities $(141,391) $(141,391) $-- $-- 
Total Derivative Instruments: $165,312 $165,312 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $405,042,791 
Level 2 to Level 1 $322,765,916 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $306,703 $(141,391) 
Total Equity Risk 306,703 (141,391) 
Total Value of Derivatives $306,703 $(141,391) 

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


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


Fidelity® SAI International Minimum Volatility Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $17,603,360) — See accompanying schedule:
Unaffiliated issuers (cost $1,380,118,284) 
$1,599,176,177  
Fidelity Central Funds (cost $53,304,063) 53,304,038  
Total Investment in Securities (cost $1,433,422,347)  $1,652,480,215 
Foreign currency held at value (cost $2,800,470)  2,782,469 
Receivable for investments sold  5,113,263 
Receivable for fund shares sold  2,879,215 
Dividends receivable  6,814,102 
Distributions receivable from Fidelity Central Funds  56,750 
Prepaid expenses  801 
Receivable from investment adviser for expense reductions  179,271 
Other receivables  33,345 
Total assets  1,670,339,431 
Liabilities   
Payable to custodian bank $801  
Payable for fund shares redeemed 1,160,983  
Accrued management fee 212,398  
Payable for daily variation margin on futures contracts 275,579  
Other affiliated payables 143,093  
Other payables and accrued expenses 632,337  
Collateral on securities loaned 18,288,827  
Total liabilities  20,714,018 
Net Assets  $1,649,625,413 
Net Assets consist of:   
Paid in capital  $1,446,080,993 
Undistributed net investment income  15,866,621 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (31,048,415) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  218,726,214 
Net Assets, for 148,730,200 shares outstanding  $1,649,625,413 
Net Asset Value, offering price and redemption price per share ($1,649,625,413 ÷ 148,730,200 shares)  $11.09 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $25,241,953 
Interest  25,848 
Income from Fidelity Central Funds  402,028 
Income before foreign taxes withheld  25,669,829 
Less foreign taxes withheld  (2,428,148) 
Total income  23,241,681 
Expenses   
Management fee $1,433,438  
Transfer agent fees 716,719  
Accounting and security lending fees 243,668  
Custodian fees and expenses 305,005  
Independent trustees' fees and expenses 3,813  
Registration fees 98,563  
Audit 30,104  
Legal 3,260  
Interest 16,288  
Miscellaneous 5,424  
Total expenses before reductions 2,856,282  
Expense reductions (923,296) 1,932,986 
Net investment income (loss)  21,308,695 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 1,584,976  
Fidelity Central Funds 297  
Foreign currency transactions 109,138  
Futures contracts 5,826,091  
Total net realized gain (loss)  7,520,502 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $50,768) 51,690,330  
Fidelity Central Funds (25)  
Assets and liabilities in foreign currencies (67,218)  
Futures contracts (870,698)  
Total change in net unrealized appreciation (depreciation)  50,752,389 
Net gain (loss)  58,272,891 
Net increase (decrease) in net assets resulting from operations  $79,581,586 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $21,308,695 $38,456,869 
Net realized gain (loss) 7,520,502 (23,598,462) 
Change in net unrealized appreciation (depreciation) 50,752,389 159,239,882 
Net increase (decrease) in net assets resulting from operations 79,581,586 174,098,289 
Distributions to shareholders from net investment income (32,823,660) (26,713,646) 
Distributions to shareholders from net realized gain – (5,539,697) 
Total distributions (32,823,660) (32,253,343) 
Share transactions   
Proceeds from sales of shares 596,277,616 949,931,043 
Reinvestment of distributions 18,818,037 31,128,648 
Cost of shares redeemed (826,684,898) (487,514,618) 
Net increase (decrease) in net assets resulting from share transactions (211,589,245) 493,545,073 
Total increase (decrease) in net assets (164,831,319) 635,390,019 
Net Assets   
Beginning of period 1,814,456,732 1,179,066,713 
End of period $1,649,625,413 $1,814,456,732 
Other Information   
Undistributed net investment income end of period $15,866,621 $27,381,586 
Shares   
Sold 54,202,733 92,270,740 
Issued in reinvestment of distributions 1,740,799 3,416,976 
Redeemed (74,756,264) (48,891,378) 
Net increase (decrease) (18,812,732) 46,796,338 

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


Financial Highlights

Fidelity SAI International Minimum Volatility Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,   
 2018 2017 2016 2015 A 
Selected Per–Share Data     
Net asset value, beginning of period $10.83 $9.76 $9.61 $10.00 
Income from Investment Operations     
Net investment income (loss)B .12 .29 .28 .10 
Net realized and unrealized gain (loss) .33 1.04 (.02) (.49) 
Total from investment operations .45 1.33 .26 (.39) 
Distributions from net investment income (.19) (.22) (.10) – 
Distributions from net realized gain – (.05) C – 
Total distributions (.19) (.26)D (.11)E – 
Net asset value, end of period $11.09 $10.83 $9.76 $9.61 
Total ReturnF,G 4.16% 14.15% 2.75% (3.90)% 
Ratios to Average Net AssetsH,I     
Expenses before reductions .30%J .31% .32% .40%J 
Expenses net of fee waivers, if any .20%J .20% .20% .20%J 
Expenses net of all reductions .20%J .20% .20% .20%J 
Net investment income (loss) 2.23%J 2.86% 2.88% 2.51%J 
Supplemental Data     
Net assets, end of period (000 omitted) $1,649,625 $1,814,457 $1,179,067 $737,119 
Portfolio turnover rateK 42%J 25% 22% 6%L 

 A For the period May 29, 2015 (commencement of operations) to October 31, 2015.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $.26 per share is comprised of distributions from net investment income of $.217 and distributions from net realized gain of $.045 per share.

 E Total distributions of $.11 per share is comprised of distributions from net investment income of $.102 and distributions from net realized gain of $.004 per share.

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

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

 H 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.

 I 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.

 J Annualized

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

 L Amount not annualized.


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


Fidelity® SAI U.S. Minimum Volatility Index Fund

Investment Summary (Unaudited)

Top Five Stocks as of April 30, 2018

 % of fund's net assets 
Visa, Inc. Class A 1.7 
McDonald's Corp. 1.5 
Becton, Dickinson & Co. 1.5 
Newmont Mining Corp. 1.5 
Johnson & Johnson 1.4 
 7.6 

Top Five Market Sectors as of April 30, 2018

 % of fund's net assets 
Information Technology 20.7 
Health Care 17.1 
Consumer Staples 12.0 
Financials 10.6 
Industrials 10.3 

Asset Allocation (% of fund's net assets)

As of April 30, 2018* 
   Stocks and Equity Futures 100.1% 
 Short-Term Investments and Net Other Assets (Liabilities)** (0.1)% 


 * Foreign investments - 6.0%

 ** Short-Term Investments and Net Other Assets (Liabilities) are not included in the pie chart


Fidelity® SAI U.S. Minimum Volatility Index Fund

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.8%   
 Shares Value 
CONSUMER DISCRETIONARY - 7.6%   
Distributors - 0.1%   
Genuine Parts Co. 20,380 $1,799,962 
Hotels, Restaurants & Leisure - 2.7%   
ARAMARK Holdings Corp. 119,049 4,451,242 
Darden Restaurants, Inc. 45,500 4,225,130 
McDonald's Corp. 146,730 24,568,471 
Starbucks Corp. 123,417 7,105,117 
Vail Resorts, Inc. 6,631 1,520,555 
Yum! Brands, Inc. 32,259 2,809,759 
  44,680,274 
Household Durables - 0.1%   
NVR, Inc. (a) 447 1,385,700 
Media - 2.0%   
Charter Communications, Inc. Class A (a) 10,440 2,832,268 
Comcast Corp. Class A 301,039 9,449,614 
Liberty Broadband Corp. Class C (a) 26,486 1,877,593 
Omnicom Group, Inc. (b) 25,843 1,903,595 
The Walt Disney Co. 89,529 8,982,445 
Time Warner, Inc. 82,552 7,825,930 
  32,871,445 
Multiline Retail - 0.1%   
Dollar General Corp. 22,605 2,182,061 
Specialty Retail - 2.6%   
AutoZone, Inc. (a) 9,424 5,885,476 
Home Depot, Inc. 74,324 13,735,075 
O'Reilly Automotive, Inc. (a) 9,658 2,473,124 
Ross Stores, Inc. 42,349 3,423,917 
TJX Companies, Inc. 183,460 15,566,581 
Ulta Beauty, Inc. (a)(b) 3,903 979,302 
  42,063,475 
TOTAL CONSUMER DISCRETIONARY  124,982,917 
CONSUMER STAPLES - 12.0%   
Beverages - 3.9%   
Brown-Forman Corp. Class B (non-vtg.) 17,342 971,846 
Constellation Brands, Inc. Class A (sub. vtg.) 32,339 7,539,191 
Dr. Pepper Snapple Group, Inc. 114,877 13,780,645 
PepsiCo, Inc. 201,519 20,341,328 
The Coca-Cola Co. 506,820 21,899,692 
  64,532,702 
Food & Staples Retailing - 1.2%   
Costco Wholesale Corp. 15,893 3,133,464 
CVS Health Corp. 18,393 1,284,383 
Sysco Corp. 84,042 5,255,987 
Walmart, Inc. 105,586 9,340,138 
  19,013,972 
Food Products - 2.8%   
Campbell Soup Co. 128,795 5,252,260 
ConAgra Foods, Inc. 69,600 2,580,072 
General Mills, Inc. 167,799 7,339,528 
Hormel Foods Corp. (b) 87,806 3,182,968 
Ingredion, Inc. 14,666 1,775,906 
Kellogg Co. 141,474 8,332,819 
McCormick & Co., Inc. (non-vtg.) (b) 95,600 10,077,196 
The Hershey Co. 61,439 5,648,702 
The J.M. Smucker Co. 7,827 892,904 
Tyson Foods, Inc. Class A 14,353 1,006,145 
  46,088,500 
Household Products - 2.8%   
Church & Dwight Co., Inc. 178,330 8,238,846 
Clorox Co. 91,989 10,781,111 
Colgate-Palmolive Co. 80,796 5,270,323 
Kimberly-Clark Corp. 50,608 5,239,952 
Procter & Gamble Co. 223,947 16,200,326 
  45,730,558 
Tobacco - 1.3%   
Altria Group, Inc. 262,954 14,754,349 
Philip Morris International, Inc. 82,256 6,744,992 
  21,499,341 
TOTAL CONSUMER STAPLES  196,865,073 
ENERGY - 2.1%   
Energy Equipment & Services - 0.3%   
Schlumberger Ltd. 68,567 4,700,954 
Oil, Gas & Consumable Fuels - 1.8%   
Chevron Corp. 71,332 8,924,347 
Exxon Mobil Corp. 221,874 17,250,704 
Occidental Petroleum Corp. 46,705 3,608,428 
  29,783,479 
TOTAL ENERGY  34,484,433 
FINANCIALS - 10.6%   
Banks - 0.2%   
U.S. Bancorp 53,133 2,680,560 
Capital Markets - 0.5%   
Cboe Global Markets, Inc. 29,167 3,114,452 
CME Group, Inc. 32,216 5,079,819 
  8,194,271 
Diversified Financial Services - 1.0%   
Berkshire Hathaway, Inc. Class B (a) 86,091 16,678,409 
Insurance - 7.6%   
AFLAC, Inc. 118,090 5,381,361 
Alleghany Corp. 10,185 5,853,014 
Allstate Corp. 112,343 10,989,392 
Aon PLC 36,912 5,258,853 
Arch Capital Group Ltd. (a) 165,340 13,248,694 
Athene Holding Ltd. (a) 51,926 2,544,374 
Axis Capital Holdings Ltd. 69,382 4,072,723 
Chubb Ltd. 116,272 15,774,622 
Cincinnati Financial Corp. 37,624 2,646,472 
Everest Re Group Ltd. 21,378 4,974,019 
FNF Group 60,905 2,243,131 
Markel Corp. (a) 10,501 11,866,550 
Marsh & McLennan Companies, Inc. 125,523 10,230,125 
Progressive Corp. 95,807 5,776,204 
RenaissanceRe Holdings Ltd. 56,797 7,726,664 
The Travelers Companies, Inc. 63,297 8,329,885 
W.R. Berkley Corp. 90,643 6,758,342 
  123,674,425 
Mortgage Real Estate Investment Trusts - 1.3%   
AGNC Investment Corp. 510,307 9,655,008 
Annaly Capital Management, Inc. 1,216,059 12,610,532 
  22,265,540 
TOTAL FINANCIALS  173,493,205 
HEALTH CARE - 17.1%   
Health Care Equipment & Supplies - 8.0%   
Abbott Laboratories 55,853 3,246,735 
Baxter International, Inc. 169,855 11,804,923 
Becton, Dickinson & Co. 105,518 24,466,459 
Boston Scientific Corp. (a) 242,455 6,963,308 
Danaher Corp. 131,555 13,197,598 
Intuitive Surgical, Inc. (a) 46,196 20,362,273 
Medtronic PLC 175,101 14,030,843 
ResMed, Inc. 35,662 3,375,052 
Stryker Corp. 85,696 14,518,616 
Teleflex, Inc. 15,115 4,049,006 
The Cooper Companies, Inc. 21,249 4,859,859 
Varian Medical Systems, Inc. (a) 68,869 7,960,568 
Zimmer Biomet Holdings, Inc. 11,364 1,308,792 
  130,144,032 
Health Care Providers & Services - 3.6%   
Aetna, Inc. 24,158 4,325,490 
Anthem, Inc. 23,389 5,519,570 
Cigna Corp. 35,120 6,034,318 
Henry Schein, Inc. (a)(b) 70,483 5,356,708 
Humana, Inc. 25,018 7,359,795 
Laboratory Corp. of America Holdings (a) 52,751 9,007,233 
Quest Diagnostics, Inc. 39,562 4,003,674 
UnitedHealth Group, Inc. 68,443 16,179,925 
Universal Health Services, Inc. Class B 15,332 1,750,914 
  59,537,627 
Health Care Technology - 0.1%   
Cerner Corp. (a) 13,830 805,598 
Life Sciences Tools & Services - 0.6%   
Quintiles Transnational Holdings, Inc. (a) 14,498 1,388,328 
Thermo Fisher Scientific, Inc. 30,372 6,388,750 
Waters Corp. (a) 8,066 1,519,715 
  9,296,793 
Pharmaceuticals - 4.8%   
Allergan PLC 4,771 733,064 
Bristol-Myers Squibb Co. 49,420 2,576,265 
Eli Lilly & Co. 165,775 13,439,379 
Johnson & Johnson 177,580 22,462,094 
Merck & Co., Inc. 225,353 13,266,531 
Pfizer, Inc. 613,011 22,442,333 
Zoetis, Inc. Class A 49,292 4,114,896 
  79,034,562 
TOTAL HEALTH CARE  278,818,612 
INDUSTRIALS - 10.3%   
Aerospace & Defense - 4.8%   
General Dynamics Corp. 27,092 5,453,891 
Harris Corp. 54,804 8,572,442 
L3 Technologies, Inc. 11,275 2,208,547 
Lockheed Martin Corp. 62,401 20,020,737 
Northrop Grumman Corp. 69,735 22,457,459 
Raytheon Co. 96,824 19,843,111 
  78,556,187 
Air Freight & Logistics - 1.4%   
C.H. Robinson Worldwide, Inc. (b) 78,292 7,205,213 
Expeditors International of Washington, Inc. 131,168 8,376,388 
United Parcel Service, Inc. Class B 64,985 7,375,798 
  22,957,399 
Commercial Services & Supplies - 2.9%   
Cintas Corp. 21,958 3,739,447 
Republic Services, Inc. 298,846 19,329,359 
Waste Connection, Inc. (Canada) 33,003 2,385,356 
Waste Management, Inc. 267,672 21,759,057 
  47,213,219 
Industrial Conglomerates - 0.9%   
3M Co. 47,772 9,286,399 
Honeywell International, Inc. 37,965 5,492,776 
  14,779,175 
Professional Services - 0.3%   
Verisk Analytics, Inc. (a) 38,125 4,058,406 
TOTAL INDUSTRIALS  167,564,386 
INFORMATION TECHNOLOGY - 20.7%   
Communications Equipment - 1.6%   
Cisco Systems, Inc. 345,699 15,311,009 
F5 Networks, Inc. (a) 24,223 3,950,529 
Motorola Solutions, Inc. 63,946 7,023,189 
  26,284,727 
Electronic Equipment & Components - 1.4%   
Amphenol Corp. Class A 158,458 13,264,519 
Dell Technologies, Inc. (a) 95,648 6,864,657 
FLIR Systems, Inc. 50,621 2,710,755 
  22,839,931 
Internet Software & Services - 2.0%   
Alphabet, Inc. Class A (a) 8,525 8,683,395 
eBay, Inc. (a)(b) 130,335 4,937,090 
Facebook, Inc. Class A (a) 74,924 12,886,928 
VeriSign, Inc. (a)(b) 48,831 5,733,736 
  32,241,149 
IT Services - 10.7%   
Accenture PLC Class A 136,389 20,622,017 
Automatic Data Processing, Inc. 95,492 11,275,695 
Broadridge Financial Solutions, Inc. 145,552 15,604,630 
Fidelity National Information Services, Inc. 143,865 13,662,859 
Fiserv, Inc. (a) 281,108 19,919,313 
Gartner, Inc. (a)(b) 51,674 6,267,539 
IBM Corp. 69,891 10,131,399 
Jack Henry & Associates, Inc. 109,186 13,045,543 
MasterCard, Inc. Class A 92,349 16,463,056 
Paychex, Inc. 210,948 12,777,120 
Visa, Inc. Class A 222,770 28,265,051 
Worldpay, Inc. (a) 87,710 7,123,806 
  175,158,028 
Semiconductors & Semiconductor Equipment - 0.9%   
Intel Corp. 159,540 8,235,455 
Texas Instruments, Inc. 57,362 5,818,228 
Xilinx, Inc. 12,095 776,983 
  14,830,666 
Software - 3.8%   
ANSYS, Inc. (a) 65,661 10,614,757 
Cadence Design Systems, Inc. (a) 69,644 2,789,939 
CDK Global, Inc. 20,220 1,319,153 
Electronic Arts, Inc. (a) 25,667 3,028,193 
Intuit, Inc. 32,067 5,925,661 
Microsoft Corp. 144,346 13,499,238 
Oracle Corp. 167,773 7,662,193 
Salesforce.com, Inc. (a) 21,767 2,633,589 
Synopsys, Inc. (a) 94,499 8,080,609 
VMware, Inc. Class A (a)(b) 50,614 6,744,822 
  62,298,154 
Technology Hardware, Storage & Peripherals - 0.3%   
Apple, Inc. 28,460 4,703,300 
TOTAL INFORMATION TECHNOLOGY  338,355,955 
MATERIALS - 3.2%   
Chemicals - 1.7%   
Ecolab, Inc. 40,146 5,811,936 
International Flavors & Fragrances, Inc. 14,437 2,039,371 
Monsanto Co. 93,129 11,675,583 
Praxair, Inc. 37,129 5,662,915 
Sherwin-Williams Co. 6,596 2,425,085 
  27,614,890 
Containers & Packaging - 0.0%   
Avery Dennison Corp. 7,375 772,974 
Metals & Mining - 1.5%   
Newmont Mining Corp. 608,285 23,899,518 
TOTAL MATERIALS  52,287,382 
REAL ESTATE - 6.4%   
Equity Real Estate Investment Trusts (REITs) - 6.4%   
American Tower Corp. 17,831 2,431,435 
AvalonBay Communities, Inc. 80,203 13,073,089 
Boston Properties, Inc. 7,798 946,755 
Camden Property Trust (SBI) 76,454 6,529,172 
Crown Castle International Corp. 127,036 12,814,121 
Digital Realty Trust, Inc. 33,446 3,534,908 
Equinix, Inc. 8,423 3,544,314 
Equity Residential (SBI) 137,823 8,505,057 
Essex Property Trust, Inc. 23,382 5,604,432 
Extra Space Storage, Inc. 10,098 904,680 
Federal Realty Investment Trust (SBI) 40,661 4,710,577 
Invitation Homes, Inc. (b) 35,778 827,903 
Mid-America Apartment Communities, Inc. 36,502 3,338,473 
National Retail Properties, Inc. 76,890 2,924,896 
Public Storage 53,801 10,855,966 
Realty Income Corp. 160,414 8,102,511 
Regency Centers Corp. 20,643 1,214,841 
UDR, Inc. 211,564 7,648,039 
Ventas, Inc. 50,984 2,621,597 
Welltower, Inc. 71,993 3,847,306 
  103,980,072 
TELECOMMUNICATION SERVICES - 2.3%   
Diversified Telecommunication Services - 2.2%   
AT&T, Inc. 409,391 13,387,086 
Verizon Communications, Inc. 400,266 19,753,127 
Zayo Group Holdings, Inc. (a) 74,727 2,712,590 
  35,852,803 
Wireless Telecommunication Services - 0.1%   
T-Mobile U.S., Inc. (a) 35,128 2,125,595 
TOTAL TELECOMMUNICATION SERVICES  37,978,398 
UTILITIES - 7.5%   
Electric Utilities - 4.7%   
Alliant Energy Corp. 40,192 1,726,246 
American Electric Power Co., Inc. 71,274 4,987,755 
Duke Energy Corp. 213,248 17,093,960 
Edison International 30,055 1,969,204 
Eversource Energy 60,674 3,655,609 
NextEra Energy, Inc. 80,023 13,116,570 
PG&E Corp. 23,497 1,083,212 
PPL Corp. 47,449 1,380,766 
Southern Co. 272,810 12,581,997 
Westar Energy, Inc. 78,986 4,279,461 
Xcel Energy, Inc. 331,631 15,533,596 
  77,408,376 
Multi-Utilities - 2.5%   
CMS Energy Corp. 71,780 3,387,298 
Consolidated Edison, Inc. 240,707 19,287,853 
Dominion Resources, Inc. 135,464 9,016,484 
DTE Energy Co. 8,832 930,893 
WEC Energy Group, Inc. 140,723 9,045,674 
  41,668,202 
Water Utilities - 0.3%   
American Water Works Co., Inc. 48,574 4,205,537 
TOTAL UTILITIES  123,282,115 
TOTAL COMMON STOCKS   
(Cost $1,530,681,067)  1,632,092,548 
 Principal Amount Value 
U.S. Treasury Obligations - 0.0%   
U.S. Treasury Bills, yield at date of purchase 1.33% to 1.9% 5/10/18 to 9/27/18 (c)   
(Cost $596,074) 600,000 596,009 
 Shares Value 
Money Market Funds - 3.5%   
Fidelity Cash Central Fund, 1.74% (d) 11,636,641 $11,638,968 
Fidelity Securities Lending Cash Central Fund 1.74% (d)(e) 44,657,784 44,662,250 
TOTAL MONEY MARKET FUNDS   
(Cost $56,301,218)  56,301,218 
TOTAL INVESTMENT IN SECURITIES - 103.3%   
(Cost $1,587,578,359)  1,688,989,775 
NET OTHER ASSETS (LIABILITIES) - (3.3)%  (53,441,268) 
NET ASSETS - 100%  $1,635,548,507 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 19 June 2018 $2,514,650 $54,315 $54,316 
CME E-mini S&P MidCap 400 Index Contracts (United States) June 2018 936,050 13,331 13,331 
TOTAL FUTURES CONTRACTS     $67,647 

The notional amount of futures purchased as a percentage of Net Assets is 0.3%

Legend

 (a) Non-income producing

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

 (c) 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 $536,483.

 (d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (e) Investment made with cash collateral received from securities on loan.


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 $101,200 
Fidelity Securities Lending Cash Central Fund 23,029 
Total $124,229 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $124,982,917 $124,982,917 $-- $-- 
Consumer Staples 196,865,073 196,865,073 -- -- 
Energy 34,484,433 34,484,433 -- -- 
Financials 173,493,205 173,493,205 -- -- 
Health Care 278,818,612 278,818,612 -- -- 
Industrials 167,564,387 167,564,387 -- -- 
Information Technology 338,355,955 338,355,955 -- -- 
Materials 52,287,382 52,287,382 -- -- 
Real Estate 103,980,072 103,980,072 -- -- 
Telecommunication Services 37,978,398 37,978,398 -- -- 
Utilities 123,282,114 123,282,114 -- -- 
U.S. Government and Government Agency Obligations 596,009 -- 596,009 -- 
Money Market Funds 56,301,218 56,301,218 -- -- 
Total Investments in Securities: $1,688,989,775 $1,688,393,766 $596,009 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $67,647 $67,647 $-- $-- 
Total Assets $67,647 $67,647 $-- $-- 
Total Derivative Instruments: $67,647 $67,647 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $67,647 $0 
Total Equity Risk 67,647 
Total Value of Derivatives $67,647 $0 

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


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


Fidelity® SAI U.S. Minimum Volatility Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $43,500,193) — See accompanying schedule:
Unaffiliated issuers (cost $1,531,277,141) 
$1,632,688,557  
Fidelity Central Funds (cost $56,301,218) 56,301,218  
Total Investment in Securities (cost $1,587,578,359)  $1,688,989,775 
Receivable for fund shares sold  5,329,440 
Dividends receivable  1,414,896 
Distributions receivable from Fidelity Central Funds  26,040 
Prepaid expenses  309 
Receivable from investment adviser for expense reductions  151,096 
Total assets  1,695,911,556 
Liabilities   
Payable for investments purchased $13,893,226  
Payable for fund shares redeemed 1,310,996  
Accrued management fee 124,370  
Payable for daily variation margin on futures contracts 132,022  
Other affiliated payables 126,605  
Other payables and accrued expenses 117,653  
Collateral on securities loaned 44,658,177  
Total liabilities  60,363,049 
Net Assets  $1,635,548,507 
Net Assets consist of:   
Paid in capital  $1,527,980,982 
Undistributed net investment income  7,093,731 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (1,005,269) 
Net unrealized appreciation (depreciation) on investments  101,479,063 
Net Assets, for 131,985,508 shares outstanding  $1,635,548,507 
Net Asset Value, offering price and redemption price per share ($1,635,548,507 ÷ 131,985,508 shares)  $12.39 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $11,141,300 
Interest  2,518 
Income from Fidelity Central Funds  124,229 
Total income  11,268,047 
Expenses   
Management fee $548,130  
Transfer agent fees 411,098  
Accounting and security lending fees 160,943  
Custodian fees and expenses 30,216  
Independent trustees' fees and expenses 1,926  
Registration fees 144,148  
Audit 29,861  
Legal 1,821  
Interest 842  
Miscellaneous 2,442  
Total expenses before reductions 1,331,427  
Expense reductions (506,972) 824,455 
Net investment income (loss)  10,443,592 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (925,286)  
Fidelity Central Funds (140)  
Foreign currency transactions  
Futures contracts 674,758  
Total net realized gain (loss)  (250,667) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 12,136,223  
Fidelity Central Funds 210  
Futures contracts 12,836  
Total change in net unrealized appreciation (depreciation)  12,149,269 
Net gain (loss)  11,898,602 
Net increase (decrease) in net assets resulting from operations  $22,342,194 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $10,443,592 $11,881,005 
Net realized gain (loss) (250,667) 37,511,259 
Change in net unrealized appreciation (depreciation) 12,149,269 41,590,215 
Net increase (decrease) in net assets resulting from operations 22,342,194 90,982,479 
Distributions to shareholders from net investment income (9,975,122) (14,558,665) 
Distributions to shareholders from net realized gain (26,991,499) – 
Total distributions (36,966,621) (14,558,665) 
Share transactions   
Proceeds from sales of shares 1,186,442,209 672,203,785 
Reinvestment of distributions 11,753,177 13,736,526 
Cost of shares redeemed (396,410,830) (862,562,675) 
Net increase (decrease) in net assets resulting from share transactions 801,784,556 (176,622,364) 
Total increase (decrease) in net assets 787,160,129 (100,198,550) 
Net Assets   
Beginning of period 848,388,378 948,586,928 
End of period $1,635,548,507 $848,388,378 
Other Information   
Undistributed net investment income end of period $7,093,731 $6,625,261 
Shares   
Sold 95,514,550 56,408,013 
Issued in reinvestment of distributions 934,275 1,252,190 
Redeemed (31,776,955) (77,680,775) 
Net increase (decrease) 64,671,870 (20,020,572) 

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


Financial Highlights

Fidelity SAI U.S. Minimum Volatility Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,   
 2018 2017 2016 2015 A 
Selected Per–Share Data     
Net asset value, beginning of period $12.60 $10.86 $10.22 $10.00 
Income from Investment Operations     
Net investment income (loss)B .12 .24 .23 .09 
Net realized and unrealized gain (loss) .17 1.74 .53 .13 
Total from investment operations .29 1.98 .76 .22 
Distributions from net investment income (.14) (.24) (.12) – 
Distributions from net realized gain (.37) – C – 
Total distributions (.50)D (.24) (.12) – 
Net asset value, end of period $12.39 $12.60 $10.86 $10.22 
Total ReturnE,F 2.27% 18.60% 7.56% 2.20% 
Ratios to Average Net AssetsG,H     
Expenses before reductions .24%I .26% .23% .31%I 
Expenses net of fee waivers, if any .15%I .15% .15% .15%I 
Expenses net of all reductions .15%I .15% .15% .15%I 
Net investment income (loss) 1.90%I 2.04% 2.12% 2.08%I 
Supplemental Data     
Net assets, end of period (000 omitted) $1,635,549 $848,388 $948,587 $669,739 
Portfolio turnover rateJ 52%I 108% 37% 3%K 

 A For the period May 29, 2015 (commencement of operations) to October 31, 2015.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $.50 per share is comprised of distributions from net investment income of $.136 and distributions from net realized gain of $.368 per share.

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

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

 G 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.

 H 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.

 I Annualized

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

 K Amount not annualized.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity SAI International Minimum Volatility Index Fund and Fidelity SAI U.S. Minimum Volatility Index Fund (the Funds) are funds of Fidelity Salem Street Trust (the Trust). Each Fund is authorized to issue an unlimited number of shares. Shares are offered only to certain clients of Fidelity Management & Research Company (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Investments in emerging markets, if applicable, can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

2. Investments in Fidelity Central Funds.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The 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. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of each Fund's investments to the Fair Value Committee (the Committee) established by each Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing each Fund's investments and ratifies the fair value determinations of the Committee.

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 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 April 30, 2018, including information on transfers between Levels 1 and 2, is included at the end of each applicable 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.

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. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

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, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. Fidelity SAI International Minimum Volatility Index Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

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

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:

 Tax cost Gross unrealized appreciation Gross unrealized depreciation Net unrealized appreciation (depreciation) 
Fidelity SAI International Minimum Volatility Index Fund $1,433,986,184 $258,185,133 $(39,525,790) $218,659,343 
Fidelity SAI U.S. Minimum Volatility Index Fund 1,596,619,284 136,110,059 (43,671,921) 92,438,138 

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 prior fiscal period end and is subject to adjustment.

 No expiration    
 Short-term Long-term Total no expiration Total capital loss carryforward 
Fidelity SAI International Minimum Volatility Index Fund $(18,274,887) $(15,185,629) $(33,460,516) $(33,460,516) 

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.

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.

A summary of the value of derivatives by primary risk exposure as of period end 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

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

5. Purchases and Sales of Investments.

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

 Purchases ($) Sales ($) 
Fidelity SAI International Minimum Volatility Index Fund 385,047,299 583,958,848 
Fidelity SAI U.S. Minimum Volatility Index Fund 1,076,376,477 295,495,868 

6. Fees and Other Transactions with Affiliates.

Management Fee. 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. Each Fund's management fee is equal to the following annualized rate of average net assets:

Fidelity SAI International Minimum Volatility Index Fund .15% 
Fidelity SAI U.S. Minimum Volatility Index Fund .10% 

Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Funds. Geode provides discretionary investment advisory services to the Funds and is paid by the investment adviser for providing these services.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of the investment adviser, is the Funds' transfer, dividend disbursing and shareholder servicing agent. FIIOC receives an asset-based fee of .075% based on each Fund's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Accounting and Security Lending Fees. Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains each Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions. For the period, the fees were equivalent to the following annualized rates:

 % of Average Net Assets 
Fidelity SAI International Minimum Volatility Index Fund .03 
Fidelity SAI U.S. Minimum Volatility Index Fund .03 

Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the Funds, along with other registered investment companies having management contracts with Fidelity Management & Research Company (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 
Fidelity SAI International Minimum Volatility Index Fund Borrower $63,126,600 1.86% $16,288 
Fidelity SAI U.S. Minimum Volatility Index Fund Borrower $18,817,000 1.61% $842 

Interfund Trades. The Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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:

Fidelity SAI International Minimum Volatility Index Fund $2,728 
Fidelity SAI U.S. Minimum Volatility Index Fund 1,372 

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. The Funds or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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. Security lending activity was as follows:

 Total Security Lending Income 
Fidelity SAI International Minimum Volatility Index Fund $25,402 
Fidelity SAI U.S. Minimum Volatility Index Fund $23,029 

9. Expense Reductions.

The investment adviser contractually agreed to reimburse each Fund to the extent annual operating expenses exceeded certain levels of average net assets as noted in the table below. This reimbursement will remain in place through December 31, 2018. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement.

The following Funds were in reimbursement during the period:

 Expense Limitations Reimbursement 
Fidelity SAI International Minimum Volatility Index Fund .20% $923,296 
Fidelity SAI U.S. Minimum Volatility Index Fund .15% $506,655 

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

 Custody expense reduction 
Fidelity SAI U.S. Minimum Volatility Index Fund $317 

10. 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.

At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares of the following Funds.

 Strategic Advisers Fidelity International Fund Strategic Advisers Fidelity U.S. Total Stock Fund 
Fidelity SAI International Minimum Volatility Index Fund 19% –% 
Fidelity SAI U.S. Minimum Volatility Index Fund –% 17% 

Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following Fund.

Fund % of shares held 
Fidelity SAI U.S. Minimum Volatility Index Fund 26% 

Shareholder Expense Example

As a shareholder of a 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 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 (November 1, 2017 to April 30, 2018).

Actual Expenses

The first line of the accompanying table for 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 fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. 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 fund provides information about hypothetical account values and hypothetical expenses based on a 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, 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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Fidelity SAI International Minimum Volatility Index Fund .20%    
Actual  $1,000.00 $1,041.60 $1.01 
Hypothetical-C  $1,000.00 $1,023.80 $1.00 
Fidelity SAI U.S. Minimum Volatility Index Fund .15%    
Actual  $1,000.00 $1,022.70 $.75 
Hypothetical-C  $1,000.00 $1,024.05 $.75 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/ 365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

SV1-SV2-SANN-0618
1.9867662.102


Fidelity® SAI International Index Fund

Offered exclusively to certain clients of the Adviser or its affiliates - not available for sale to the general public. Fidelity SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers LLC.



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 24.1% 
   United Kingdom 16.3% 
   France 10.3% 
   Germany 9.6% 
   Switzerland 7.5% 
   Australia 6.4% 
   Netherlands 4.5% 
   Spain 3.2% 
   Sweden 2.5% 
   Other* 15.6% 


 * 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 April 30, 2018

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.6 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 1.3 
Novartis AG (Switzerland, Pharmaceuticals) 1.1 
Toyota Motor Corp. (Japan, Automobiles) 1.1 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 1.0 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 1.0 
Total SA (France, Oil, Gas & Consumable Fuels) 1.0 
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels) 1.0 
Royal Dutch Shell PLC Class B (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.9 
British American Tobacco PLC (United Kingdom) (United Kingdom, Tobacco) 0.8 
 10.8 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 20.7 
Industrials 14.1 
Consumer Discretionary 12.7 
Consumer Staples 10.8 
Health Care 9.9 
Materials 7.8 
Information Technology 6.6 
Energy 5.8 
Telecommunication Services 3.6 
Real Estate 3.6 

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%   
 Shares Value 
Australia - 6.4%   
AGL Energy Ltd. 348,986 $5,687,581 
Alumina Ltd. 1,307,534 2,573,716 
Amcor Ltd. 612,644 6,313,281 
AMP Ltd. 1,541,782 4,667,234 
APA Group unit 618,366 3,871,102 
Aristocrat Leisure Ltd. 286,487 5,747,094 
ASX Ltd. 104,182 4,580,132 
Aurizon Holdings Ltd. 1,073,857 3,613,790 
Australia & New Zealand Banking Group Ltd. 1,561,606 31,391,723 
Bank of Queensland Ltd. 205,229 1,546,259 
Bendigo & Adelaide Bank Ltd. 249,663 1,987,121 
BHP Billiton Ltd. 1,706,515 39,811,716 
BlueScope Steel Ltd. 298,445 3,667,726 
Boral Ltd. 624,958 3,216,215 
Brambles Ltd. 842,220 6,231,739 
Caltex Australia Ltd. 139,820 3,251,484 
Challenger Ltd. 313,174 2,532,002 
Cimic Group Ltd. 50,470 1,717,432 
Coca-Cola Amatil Ltd. 290,928 2,030,712 
Cochlear Ltd. 30,620 4,456,118 
Commonwealth Bank of Australia 931,132 50,136,274 
Computershare Ltd. 241,668 3,074,391 
Crown Ltd. 197,980 1,921,581 
CSL Ltd. 240,488 30,803,879 
DEXUS Property Group unit 541,718 3,852,455 
Dominos Pizza Enterprises Ltd. (a) 31,258 989,540 
Flight Centre Travel Group Ltd. (a) 28,896 1,210,502 
Fortescue Metals Group Ltd. 815,704 2,767,575 
Goodman Group unit 952,018 6,477,093 
Harvey Norman Holdings Ltd. (a) 288,847 761,395 
Healthscope Ltd. 940,974 1,714,394 
Incitec Pivot Ltd. 902,565 2,568,449 
Insurance Australia Group Ltd. 1,261,369 7,467,202 
Lendlease Group unit 292,481 3,922,570 
Macquarie Group Ltd. 171,921 14,000,948 
Medibank Private Ltd. 1,459,184 3,206,934 
Mirvac Group unit 1,986,802 3,334,212 
National Australia Bank Ltd. 1,427,242 31,026,880 
Newcrest Mining Ltd. 408,827 6,479,892 
Orica Ltd. 201,004 2,994,782 
Origin Energy Ltd. (b) 927,857 6,774,081 
QBE Insurance Group Ltd. 717,764 5,360,678 
Ramsay Health Care Ltd. 74,076 3,601,257 
realestate.com.au Ltd. 27,591 1,670,408 
Rio Tinto Ltd. 219,402 13,057,528 
Santos Ltd. (b) 991,241 4,565,473 
Scentre Group unit 2,832,705 8,561,888 
SEEK Ltd. 180,123 2,620,041 
Sonic Healthcare Ltd. 215,946 3,828,774 
South32 Ltd. 2,759,068 7,656,472 
SP AusNet 977,528 1,261,876 
Stockland Corp. Ltd. unit 1,294,787 4,024,729 
Suncorp Group Ltd. 691,439 7,272,352 
Sydney Airport unit 590,521 3,161,700 
Tabcorp Holdings Ltd. 1,001,079 3,291,895 
Telstra Corp. Ltd. 2,195,458 5,219,975 
The GPT Group unit 966,220 3,503,622 
TPG Telecom Ltd. 184,064 772,071 
Transurban Group unit 1,182,126 10,300,699 
Treasury Wine Estates Ltd. 387,747 5,538,576 
Vicinity Centers unit 1,722,200 3,153,305 
Wesfarmers Ltd. 602,530 19,822,990 
Westfield Corp. unit (b) 1,049,955 7,255,378 
Westpac Banking Corp. 1,803,418 38,738,255 
Woodside Petroleum Ltd. 498,169 12,072,383 
Woolworths Group Ltd. 694,014 14,515,842 
TOTAL AUSTRALIA  515,207,373 
Austria - 0.3%   
Andritz AG 39,003 2,098,777 
Erste Group Bank AG 160,184 7,853,591 
OMV AG 78,188 4,862,621 
Raiffeisen International Bank-Holding AG 77,517 2,621,067 
Voestalpine AG 61,472 3,244,750 
TOTAL AUSTRIA  20,680,806 
Bailiwick of Jersey - 1.2%   
Experian PLC 492,717 11,289,230 
Glencore Xstrata PLC 6,500,529 31,385,119 
Randgold Resources Ltd. 49,700 4,029,856 
Shire PLC 482,749 25,706,350 
Wolseley PLC 133,117 10,226,029 
WPP PLC 671,310 11,519,766 
TOTAL BAILIWICK OF JERSEY  94,156,350 
Belgium - 1.1%   
Ageas 100,938 5,418,132 
Anheuser-Busch InBev SA NV 404,741 40,430,660 
Colruyt NV 32,421 1,827,597 
Groupe Bruxelles Lambert SA 43,355 4,971,678 
KBC Groep NV 133,503 11,672,199 
Proximus 79,173 2,431,345 
Solvay SA Class A 39,383 5,497,810 
Telenet Group Holding NV (b) 28,365 1,663,354 
UCB SA 67,073 5,083,394 
Umicore SA 110,182 6,155,161 
TOTAL BELGIUM  85,151,330 
Bermuda - 0.3%   
Cheung Kong Infrastructure Holdings Ltd. 354,500 2,797,860 
Hongkong Land Holdings Ltd. 622,747 4,500,742 
Jardine Matheson Holdings Ltd. 115,923 7,019,570 
Jardine Strategic Holdings Ltd. 117,069 4,430,518 
Kerry Properties Ltd. 357,000 1,706,646 
Kingston Financial Group Ltd. (a) 2,174,000 1,105,229 
Li & Fung Ltd. 3,216,000 1,617,401 
NWS Holdings Ltd. 810,856 1,598,857 
Shangri-La Asia Ltd. 676,000 1,315,574 
Yue Yuen Industrial (Holdings) Ltd. 403,500 1,143,505 
TOTAL BERMUDA  27,235,902 
British Virgin Islands - 0.0%   
First Pacific Co. Ltd. 1,124,000 575,566 
Cayman Islands - 0.7%   
ASM Pacific Technology Ltd. 163,400 2,239,125 
Cheung Kong Property Holdings Ltd. 1,376,500 11,883,279 
CK Hutchison Holdings Ltd. 1,436,500 16,986,407 
Melco Crown Entertainment Ltd. sponsored ADR 131,307 4,098,091 
MGM China Holdings Ltd. 489,600 1,342,665 
Minth Group Ltd. 396,000 1,880,255 
Sands China Ltd. 1,290,000 7,455,402 
WH Group Ltd. (c) 4,635,500 4,799,021 
Wharf Real Estate Investment Co. Ltd. 643,000 4,821,054 
Wynn Macau Ltd. 830,400 3,068,629 
TOTAL CAYMAN ISLANDS  58,573,928 
Denmark - 1.7%   
A.P. Moller - Maersk A/S:   
Series A 2,003 3,072,823 
Series B 3,474 5,605,969 
Carlsberg A/S Series B 56,426 6,323,312 
Christian Hansen Holding A/S 52,346 4,761,427 
Coloplast A/S Series B 63,312 5,363,390 
Danske Bank A/S 398,656 13,918,100 
DONG Energy A/S (c) 100,608 6,638,494 
DSV de Sammensluttede Vognmaend A/S 100,308 7,971,378 
Genmab A/S (b) 30,934 6,277,350 
H Lundbeck A/S 37,513 2,182,791 
ISS Holdings A/S 89,936 3,148,642 
Novo Nordisk A/S Series B 990,805 46,595,525 
Novozymes A/S Series B 119,397 5,613,196 
Pandora A/S 56,839 6,332,744 
Tryg A/S 63,537 1,508,691 
Vestas Wind Systems A/S 114,569 7,411,680 
William Demant Holding A/S (b) 62,411 2,439,913 
TOTAL DENMARK  135,165,425 
Finland - 1.0%   
Elisa Corp. (A Shares) 74,453 3,301,475 
Fortum Corp. 236,379 5,454,974 
Kone Oyj (B Shares) 180,416 8,989,331 
Metso Corp. 58,320 2,083,942 
Neste Oyj 67,391 5,688,558 
Nokia Corp. 3,103,087 18,619,196 
Nokian Tyres PLC 60,655 2,435,462 
Orion Oyj (B Shares) 56,383 1,714,459 
Sampo Oyj (A Shares) 238,052 12,864,354 
Stora Enso Oyj (R Shares) 291,536 5,786,088 
UPM-Kymmene Corp. 284,865 10,210,008 
Wartsila Corp. 233,730 4,981,754 
TOTAL FINLAND  82,129,601 
France - 10.3%   
Accor SA 99,078 5,607,836 
Aeroports de Paris 15,553 3,425,801 
Air Liquide SA 227,365 29,552,078 
Alstom SA 82,399 3,752,335 
Amundi SA (c) 32,339 2,752,426 
Arkema SA 36,193 4,742,173 
Atos Origin SA 49,886 6,741,117 
AXA SA 1,031,088 29,487,731 
BIC SA 14,675 1,496,583 
bioMerieux SA 21,438 1,698,287 
BNP Paribas SA 596,905 46,118,222 
Bollore SA 468,864 2,331,612 
Bollore SA (b) 2,040 10,072 
Bouygues SA 113,876 5,810,079 
Bureau Veritas SA 142,863 3,735,087 
Capgemini SA 85,661 11,792,642 
Carrefour SA 306,196 6,298,901 
Casino Guichard Perrachon SA 29,188 1,514,230 
CNP Assurances 92,133 2,363,158 
Compagnie de St. Gobain 266,072 13,975,315 
Credit Agricole SA 605,647 9,972,357 
Danone SA 320,922 25,996,547 
Dassault Aviation SA 1,335 2,668,102 
Dassault Systemes SA 69,074 8,946,126 
Edenred SA 117,236 4,034,865 
EDF SA 303,017 4,263,007 
Eiffage SA 38,967 4,644,481 
ENGIE 969,641 17,037,155 
Essilor International SA 110,394 15,070,898 
Eurazeo SA 23,517 2,067,457 
Eutelsat Communications 93,213 2,019,399 
Faurecia SA 39,791 3,257,899 
Fonciere des Regions 17,520 1,960,210 
Gecina SA 26,108 4,527,424 
Groupe Eurotunnel SA 249,353 3,520,077 
Hermes International SCA 16,826 10,886,962 
ICADE 17,491 1,739,408 
Iliad SA 13,879 2,781,369 
Imerys SA 18,474 1,686,576 
Ingenico SA 31,558 2,759,124 
Ipsen SA 19,734 3,205,240 
JCDecaux SA 40,282 1,440,851 
Kering SA 40,251 23,311,969 
Klepierre SA 116,503 4,772,172 
L'Oreal SA 133,889 32,150,934 
Lagardere S.C.A. (Reg.) 62,149 1,777,211 
Legrand SA 142,079 11,066,562 
LVMH Moet Hennessy - Louis Vuitton SA 148,084 51,535,031 
Michelin CGDE Series B 91,214 12,837,986 
Natixis SA 494,479 4,067,669 
Orange SA 1,061,855 19,304,132 
Pernod Ricard SA 113,013 18,772,067 
Peugeot Citroen SA 312,927 7,716,527 
Publicis Groupe SA 110,290 8,257,545 
Remy Cointreau SA 11,909 1,640,907 
Renault SA 102,181 11,085,697 
Rexel SA 158,707 2,462,761 
Safran SA 177,325 20,798,480 
Sanofi SA 604,098 47,761,392 
Schneider Electric SA 301,199 27,381,437 
SCOR SE 90,670 3,684,443 
SEB SA 11,724 2,249,691 
Societe Generale Series A 407,895 22,323,599 
Sodexo SA 47,709 4,724,548 
SR Teleperformance SA 30,505 4,895,749 
Suez Environnement SA 197,389 2,850,869 
Thales SA 56,301 7,138,854 
Total SA 1,275,933 80,194,627 
Ubisoft Entertainment SA (b) 41,706 3,984,927 
Unibail-Rodamco 53,123 12,759,701 
Valeo SA 127,533 8,538,251 
Veolia Environnement SA 254,906 6,050,290 
VINCI SA 269,630 26,958,605 
Vivendi SA 550,481 14,551,615 
Wendel SA 14,468 2,187,439 
TOTAL FRANCE  827,484,906 
Germany - 9.0%   
adidas AG 100,013 24,626,165 
Allianz SE 236,664 55,976,691 
Axel Springer Verlag AG 25,884 2,120,823 
BASF AG 487,317 50,702,155 
Bayer AG 439,258 52,499,945 
Bayerische Motoren Werke AG (BMW) 176,035 19,657,260 
Beiersdorf AG 53,175 6,030,991 
Brenntag AG 81,742 4,690,777 
Commerzbank AG (b) 566,493 7,326,678 
Continental AG 58,434 15,608,956 
Covestro AG (c) 86,078 7,854,295 
Daimler AG (Germany) 511,038 40,421,982 
Deutsche Bank AG 1,097,674 15,066,214 
Deutsche Borse AG 102,527 13,788,764 
Deutsche Lufthansa AG 125,002 3,648,520 
Deutsche Post AG 515,477 22,373,996 
Deutsche Telekom AG 1,769,810 30,978,084 
Deutsche Wohnen AG (Bearer) 188,532 8,911,052 
Drillisch AG 28,376 2,059,438 
E.ON AG 1,168,371 12,793,390 
Evonik Industries AG 86,476 3,078,550 
Fraport AG Frankfurt Airport Services Worldwide 22,259 2,161,149 
Fresenius Medical Care AG & Co. KGaA 114,650 11,633,636 
Fresenius SE & Co. KGaA 221,011 16,904,995 
GEA Group AG 96,749 3,786,593 
Hannover Reuck SE 31,682 4,461,021 
HeidelbergCement Finance AG 79,105 7,762,540 
Henkel AG & Co. KGaA 55,831 6,657,875 
Hochtief AG 10,237 1,874,110 
Hugo Boss AG 33,765 3,172,265 
Infineon Technologies AG 603,730 15,458,940 
Innogy SE (c) 72,867 3,214,428 
K&S AG 102,002 3,006,766 
KION Group AG 37,107 3,105,362 
Lanxess AG 47,824 3,555,229 
Linde AG 57,696 12,457,656 
Linde AG 48,045 10,678,423 
MAN SE 18,537 2,137,794 
Merck KGaA 68,162 6,685,416 
Metro Wholesale & Food Specialist AG (a) 96,067 1,393,866 
MTU Aero Engines Holdings AG 27,474 4,744,397 
Muenchener Rueckversicherungs AG 82,318 18,882,401 
OSRAM Licht AG 52,636 3,036,416 
ProSiebenSat.1 Media AG 122,861 4,457,160 
RWE AG 275,206 6,605,233 
SAP SE 522,024 57,999,832 
Schaeffler AG 88,950 1,381,907 
Siemens AG 406,269 51,594,084 
Siemens Healthineers AG (b)(c) 79,746 3,109,086 
Symrise AG 65,545 5,311,109 
Telefonica Deutschland Holding AG 384,207 1,837,779 
Thyssenkrupp AG 229,454 5,985,115 
TUI AG (GB) 232,362 5,263,835 
Uniper SE 105,228 3,261,972 
United Internet AG 65,950 4,283,105 
Volkswagen AG 16,374 3,333,735 
Vonovia SE 257,753 12,951,634 
Wirecard AG 62,406 8,523,384 
Zalando SE (a)(b)(c) 58,266 3,007,976 
TOTAL GERMANY  725,892,950 
Hong Kong - 2.5%   
AIA Group Ltd. 6,413,400 57,317,839 
Bank of East Asia Ltd. 660,009 2,898,147 
BOC Hong Kong (Holdings) Ltd. 1,968,500 10,176,211 
CLP Holdings Ltd. 873,500 9,070,494 
Galaxy Entertainment Group Ltd. 1,260,000 11,028,317 
Hang Lung Group Ltd. 462,000 1,395,477 
Hang Lung Properties Ltd. 1,053,000 2,492,003 
Hang Seng Bank Ltd. 406,800 10,304,211 
Henderson Land Development Co. Ltd. 639,150 4,052,565 
Hong Kong & China Gas Co. Ltd. 4,469,430 9,338,635 
Hong Kong Exchanges and Clearing Ltd. 625,966 20,277,883 
Hysan Development Co. Ltd. 327,000 1,903,197 
Link (REIT) 1,170,000 10,340,611 
MTR Corp. Ltd. 797,674 4,481,939 
New World Development Co. Ltd. 3,144,590 4,611,608 
PCCW Ltd. 2,214,584 1,368,950 
Power Assets Holdings Ltd. 740,000 5,506,225 
Sino Land Ltd. 1,692,689 2,921,879 
SJM Holdings Ltd. 1,003,000 1,004,634 
Sun Hung Kai Properties Ltd. 770,000 12,400,422 
Swire Pacific Ltd. (A Shares) 259,000 2,559,260 
Swire Properties Ltd. 628,800 2,231,920 
Techtronic Industries Co. Ltd. 727,000 4,258,905 
Wharf Holdings Ltd. 647,000 2,152,476 
Wheelock and Co. Ltd. 438,000 3,249,615 
TOTAL HONG KONG  197,343,423 
Ireland - 0.6%   
AIB Group PLC 427,471 2,551,129 
Bank Ireland Group PLC 486,024 4,372,573 
CRH PLC 446,672 15,861,956 
DCC PLC (United Kingdom) 47,527 4,580,129 
James Hardie Industries PLC CDI 233,125 4,116,858 
Kerry Group PLC Class A 84,552 8,627,872 
Paddy Power Betfair PLC (Ireland) 42,358 4,191,867 
Ryanair Holdings PLC sponsored ADR (b) 13,036 1,433,569 
TOTAL IRELAND  45,735,953 
Isle of Man - 0.1%   
Gaming VC Holdings SA 290,698 3,571,820 
Genting Singapore PLC 3,239,400 2,838,091 
TOTAL ISLE OF MAN  6,409,911 
Israel - 0.4%   
Azrieli Group 22,036 1,010,890 
Bank Hapoalim BM (Reg.) 561,754 3,849,138 
Bank Leumi le-Israel BM 761,464 4,506,643 
Bezeq The Israel Telecommunication Corp. Ltd. 1,113,874 1,405,748 
Check Point Software Technologies Ltd. (a)(b) 69,646 6,721,535 
Elbit Systems Ltd. (Israel) 12,633 1,461,994 
Frutarom Industries Ltd. 20,948 2,011,013 
Israel Chemicals Ltd. 365,386 1,642,686 
Mizrahi Tefahot Bank Ltd. 73,128 1,339,242 
NICE Systems Ltd. (b) 32,664 3,098,540 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 485,615 8,731,358 
TOTAL ISRAEL  35,778,787 
Italy - 2.1%   
Assicurazioni Generali SpA 663,771 13,418,279 
Atlantia SpA 241,605 8,023,460 
Davide Campari-Milano SpA 303,836 2,282,195 
Enel SpA 4,317,112 27,386,560 
Eni SpA 1,351,996 26,429,378 
Intesa Sanpaolo SpA 7,189,113 27,347,081 
Intesa Sanpaolo SpA (Risparmio Shares) 469,863 1,864,498 
Leonardo SpA 215,768 2,503,995 
Luxottica Group SpA 90,256 5,641,485 
Mediobanca SpA 331,141 4,024,851 
Poste Italiane SpA (c) 279,084 2,731,899 
Prysmian SpA 107,962 3,178,540 
Recordati SpA 56,295 2,015,662 
Snam Rete Gas SpA 1,201,858 5,783,684 
Telecom Italia SpA (a)(b) 6,101,166 6,028,308 
Terna SpA 746,771 4,488,262 
UniCredit SpA 1,064,250 23,099,975 
Unipolsai SpA 517,397 1,393,323 
TOTAL ITALY  167,641,435 
Japan - 24.1%   
ABC-MART, Inc. 18,200 1,200,348 
ACOM Co. Ltd. 218,900 993,180 
AEON Co. Ltd. 325,800 6,519,278 
AEON Financial Service Co. Ltd. 59,100 1,387,217 
AEON MALL Co. Ltd. 59,400 1,205,170 
Air Water, Inc. 82,100 1,587,627 
Aisin Seiki Co. Ltd. 93,400 5,074,973 
Ajinomoto Co., Inc. 287,100 5,268,227 
Alfresa Holdings Corp. 98,700 2,181,295 
All Nippon Airways Ltd. 62,800 2,493,158 
Alps Electric Co. Ltd. 106,600 2,367,589 
Amada Holdings Co. Ltd. 177,100 2,133,559 
Aozora Bank Ltd. 62,250 2,519,724 
Asahi Glass Co. Ltd. 105,900 4,397,969 
Asahi Group Holdings 206,000 10,431,906 
Asahi Kasei Corp. 671,400 9,258,466 
Asics Corp. 84,700 1,605,364 
Astellas Pharma, Inc. 1,100,900 16,102,021 
Bandai Namco Holdings, Inc. 104,700 3,557,999 
Bank of Kyoto Ltd. 31,900 1,920,070 
Benesse Holdings, Inc. 39,000 1,423,436 
Bridgestone Corp. 346,000 14,524,277 
Brother Industries Ltd. 126,300 2,721,943 
Calbee, Inc. 43,400 1,464,929 
Canon, Inc. 567,000 19,504,343 
Casio Computer Co. Ltd. 102,300 1,528,137 
Central Japan Railway Co. 76,600 15,394,274 
Chiba Bank Ltd. 367,900 2,974,969 
Chubu Electric Power Co., Inc. 341,900 5,358,998 
Chugai Pharmaceutical Co. Ltd. 117,900 6,233,644 
Chugoku Electric Power Co., Inc. 149,600 1,874,790 
Coca-Cola West Co. Ltd. 65,700 2,830,653 
Concordia Financial Group Ltd. 642,500 3,743,803 
Credit Saison Co. Ltd. 86,000 1,544,255 
CYBERDYNE, Inc. (a)(b) 52,100 667,692 
Dai Nippon Printing Co. Ltd. 136,000 2,933,480 
Dai-ichi Mutual Life Insurance Co. 573,500 11,404,949 
Daicel Chemical Industries Ltd. 151,700 1,756,789 
Daifuku Co. Ltd. 51,900 2,791,548 
Daiichi Sankyo Kabushiki Kaisha 301,700 10,349,204 
Daikin Industries Ltd. 132,500 15,520,147 
Dainippon Sumitomo Pharma Co. Ltd. 82,400 1,503,732 
Daito Trust Construction Co. Ltd. 36,800 6,145,115 
Daiwa House Industry Co. Ltd. 301,900 11,074,085 
Daiwa House REIT Investment Corp. 898 2,143,963 
Daiwa Securities Group, Inc. 852,000 5,242,777 
DeNA Co. Ltd. 54,800 1,045,170 
DENSO Corp. 253,700 13,358,006 
Dentsu, Inc. 114,000 5,401,756 
Disco Corp. 15,000 2,645,445 
Don Quijote Holdings Co. Ltd. 62,200 3,356,934 
East Japan Railway Co. 174,200 16,715,679 
Eisai Co. Ltd. 141,900 9,533,987 
Electric Power Development Co. Ltd. 78,500 2,138,428 
FamilyMart Co. Ltd. (a) 43,900 4,268,725 
Fanuc Corp. 103,000 22,063,696 
Fast Retailing Co. Ltd. 28,200 12,436,169 
Fuji Electric Co. Ltd. 300,000 2,151,482 
Fujifilm Holdings Corp. 219,000 8,824,506 
Fujitsu Ltd. 1,047,000 6,377,582 
Fukuoka Financial Group, Inc. 416,000 2,229,930 
Hakuhodo DY Holdings, Inc. 126,400 1,770,201 
Hamamatsu Photonics K.K. 76,100 2,937,633 
Hankyu Hanshin Holdings, Inc. 129,200 5,099,689 
Hikari Tsushin, Inc. 11,400 1,852,031 
Hino Motors Ltd. 139,400 1,704,883 
Hirose Electric Co. Ltd. 17,430 2,458,568 
Hisamitsu Pharmaceutical Co., Inc. 33,200 2,590,523 
Hitachi Chemical Co. Ltd. 53,800 1,184,072 
Hitachi Construction Machinery Co. Ltd. 57,500 2,096,025 
Hitachi High-Technologies Corp. 36,100 1,687,441 
Hitachi Ltd. 2,569,000 18,837,453 
Hitachi Metals Ltd. 112,000 1,286,791 
Honda Motor Co. Ltd. 914,500 31,445,960 
Hoshizaki Corp. 29,200 2,716,465 
Hoya Corp. 205,200 11,003,315 
Hulic Co. Ltd. 156,200 1,681,736 
Idemitsu Kosan Co. Ltd. 72,400 2,837,852 
IHI Corp. 82,800 2,719,100 
Iida Group Holdings Co. Ltd. 76,400 1,496,272 
INPEX Corp. 502,000 6,440,313 
Isetan Mitsukoshi Holdings Ltd. 181,600 2,023,315 
Isuzu Motors Ltd. 292,400 4,477,475 
Itochu Corp. 796,600 15,987,380 
J. Front Retailing Co. Ltd. 130,900 2,125,389 
Japan Airlines Co. Ltd. 63,000 2,483,809 
Japan Airport Terminal Co. Ltd. 24,300 999,163 
Japan Exchange Group, Inc. 275,700 5,119,566 
Japan Post Bank Co. Ltd. 216,900 2,952,316 
Japan Post Holdings Co. Ltd. 836,500 10,176,958 
Japan Prime Realty Investment Corp. 437 1,586,983 
Japan Real Estate Investment Corp. 701 3,642,225 
Japan Retail Fund Investment Corp. 1,434 2,689,078 
Japan Tobacco, Inc. 584,900 15,711,296 
JFE Holdings, Inc. 275,300 5,677,496 
JGC Corp. 111,000 2,726,262 
JSR Corp. 102,600 1,938,063 
JTEKT Corp. 115,400 1,873,719 
JX Holdings, Inc. 1,641,300 10,725,802 
Kajima Corp. 474,000 4,574,369 
Kakaku.com, Inc. 72,600 1,388,644 
Kamigumi Co. Ltd. 60,400 1,364,691 
Kaneka Corp. 144,000 1,423,930 
Kansai Electric Power Co., Inc. 372,200 5,209,166 
Kansai Paint Co. Ltd. 109,600 2,470,311 
Kao Corp. 263,200 18,911,782 
Kawasaki Heavy Industries Ltd. 78,900 2,648,765 
KDDI Corp. 962,400 25,834,286 
Keihan Electric Railway Co., Ltd. 50,900 1,648,244 
Keihin Electric Express Railway Co. Ltd. 125,900 2,311,391 
Keio Corp. 62,200 2,850,549 
Keisei Electric Railway Co. 74,300 2,426,372 
Keyence Corp. 51,700 31,671,689 
Kikkoman Corp. 77,200 3,350,842 
Kintetsu Group Holdings Co. Ltd. 95,100 3,875,508 
Kirin Holdings Co. Ltd. 461,900 12,984,072 
Kobe Steel Ltd. 166,100 1,719,952 
Koito Manufacturing Co. Ltd. 59,600 4,007,135 
Komatsu Ltd. 490,800 16,730,751 
Konami Holdings Corp. 50,200 2,470,509 
Konica Minolta, Inc. 257,500 2,214,142 
Kose Corp. 15,900 2,945,252 
Kubota Corp. 561,600 9,501,273 
Kuraray Co. Ltd. 185,500 3,091,667 
Kurita Water Industries Ltd. 51,700 1,678,879 
Kyocera Corp. 170,800 10,933,575 
Kyowa Hakko Kirin Co., Ltd. 136,000 2,953,385 
Kyushu Electric Power Co., Inc. 228,900 2,830,889 
Kyushu Financial Group, Inc. 181,400 892,730 
Kyushu Railway Co. 86,000 2,761,251 
Lawson, Inc. 26,500 1,752,607 
LINE Corp. (b) 23,100 835,395 
Lion Corp. 119,800 2,588,434 
LIXIL Group Corp. 139,600 3,132,444 
M3, Inc. 111,300 4,220,074 
Mabuchi Motor Co. Ltd. 25,800 1,302,744 
Makita Corp. 118,100 5,315,148 
Marubeni Corp. 874,600 6,593,902 
Marui Group Co. Ltd. 105,000 2,185,099 
Maruichi Steel Tube Ltd. 29,300 1,003,737 
Mazda Motor Corp. 305,900 4,257,472 
McDonald's Holdings Co. (Japan) Ltd. 34,800 1,629,857 
Mebuki Financial Group, Inc. 541,190 2,103,968 
Medipal Holdings Corp. 90,200 1,939,812 
Meiji Holdings Co. Ltd. 64,600 5,188,328 
Minebea Mitsumi, Inc. 202,500 4,069,635 
Misumi Group, Inc. 149,700 4,149,204 
Mitsubishi Chemical Holdings Corp. 756,900 7,197,197 
Mitsubishi Corp. 803,100 22,237,319 
Mitsubishi Electric Corp. 1,027,600 15,796,577 
Mitsubishi Estate Co. Ltd. 666,500 12,178,655 
Mitsubishi Gas Chemical Co., Inc. 93,000 2,189,737 
Mitsubishi Heavy Industries Ltd. 170,800 6,758,880 
Mitsubishi Materials Corp. 60,100 1,836,206 
Mitsubishi Motors Corp. of Japan 359,100 2,680,439 
Mitsubishi Tanabe Pharma Corp. 121,800 2,321,910 
Mitsubishi UFJ Financial Group, Inc. 6,335,500 42,456,361 
Mitsubishi UFJ Lease & Finance Co. Ltd. 239,200 1,525,086 
Mitsui & Co. Ltd. 908,000 16,416,593 
Mitsui Chemicals, Inc. 96,400 2,768,899 
Mitsui Fudosan Co. Ltd. 474,800 12,210,942 
Mitsui OSK Lines Ltd. 62,600 1,858,187 
mixi, Inc. 21,400 706,678 
Mizuho Financial Group, Inc. 12,826,400 23,205,996 
MS&AD Insurance Group Holdings, Inc. 252,600 8,484,698 
Murata Manufacturing Co. Ltd. 101,800 12,851,877 
Nabtesco Corp. 60,500 2,188,781 
Nagoya Railroad Co. Ltd. 99,400 2,610,478 
NEC Corp. 139,300 3,829,093 
New Hampshire Foods Ltd. 48,900 2,140,381 
Nexon Co. Ltd. (b) 209,000 3,045,527 
NGK Insulators Ltd. 137,600 2,532,484 
NGK Spark Plug Co. Ltd. 83,800 2,161,690 
Nidec Corp. 126,800 19,880,644 
Nikon Corp. 178,500 3,115,423 
Nintendo Co. Ltd. 60,200 25,294,627 
Nippon Building Fund, Inc. 717 4,033,617 
Nippon Electric Glass Co. Ltd. 45,500 1,313,140 
Nippon Express Co. Ltd. 42,700 3,230,232 
Nippon Paint Holdings Co. Ltd. 85,300 3,495,646 
Nippon Prologis REIT, Inc. 946 1,992,900 
Nippon Steel & Sumitomo Metal Corp. 405,200 8,840,121 
Nippon Telegraph & Telephone Corp. 367,700 17,449,273 
Nippon Yusen KK 83,700 1,787,009 
Nissan Chemical Industries Co. Ltd. 64,700 2,885,222 
Nissan Motor Co. Ltd. 1,234,600 13,004,408 
Nisshin Seifun Group, Inc. 106,000 2,320,326 
Nissin Food Holdings Co. Ltd. 31,700 2,334,294 
Nitori Holdings Co. Ltd. 42,700 7,218,222 
Nitto Denko Corp. 87,000 6,486,004 
NKSJ Holdings, Inc. 188,100 7,897,722 
NOK Corp. 50,400 1,037,322 
Nomura Holdings, Inc. 1,932,600 11,130,916 
Nomura Real Estate Holdings, Inc. 65,300 1,623,540 
Nomura Real Estate Master Fund, Inc. 2,022 2,824,363 
Nomura Research Institute Ltd. 69,240 3,578,540 
NSK Ltd. 202,800 2,727,003 
NTT Data Corp. 331,200 3,571,943 
NTT DOCOMO, Inc. 725,300 18,737,408 
Obayashi Corp. 340,500 3,930,763 
OBIC Co. Ltd. 34,800 2,919,100 
Odakyu Electric Railway Co. Ltd. 155,000 3,347,558 
Oji Holdings Corp. 451,000 3,176,637 
Olympus Corp. 153,600 5,739,627 
OMRON Corp. 101,900 5,536,828 
Ono Pharmaceutical Co. Ltd. 214,500 4,973,017 
Oracle Corp. Japan 19,800 1,630,077 
Oriental Land Co. Ltd. 116,200 11,601,930 
ORIX Corp. 705,300 12,413,074 
Osaka Gas Co. Ltd. 197,000 4,242,023 
Otsuka Corp. 56,100 2,617,179 
Otsuka Holdings Co. Ltd. 208,000 10,906,111 
Panasonic Corp. 1,175,500 17,405,805 
Park24 Co. Ltd. 59,400 1,684,413 
Pola Orbis Holdings, Inc. 49,200 2,151,262 
Rakuten, Inc. 492,200 3,497,857 
Recruit Holdings Co. Ltd. 586,500 13,557,313 
Renesas Electronics Corp. (a)(b) 443,600 4,658,368 
Resona Holdings, Inc. 1,168,100 6,652,571 
Ricoh Co. Ltd. 372,300 3,647,396 
Rinnai Corp. 17,700 1,763,200 
ROHM Co. Ltd. 49,800 4,655,653 
Ryohin Keikaku Co. Ltd. 12,700 4,362,285 
Sankyo Co. Ltd. (Gunma) 23,400 823,024 
Santen Pharmaceutical Co. Ltd. 191,800 3,237,020 
SBI Holdings, Inc. Japan 107,600 2,723,465 
Secom Co. Ltd. 111,200 8,343,052 
Sega Sammy Holdings, Inc. 89,100 1,463,809 
Seibu Holdings, Inc. 116,700 1,973,823 
Seiko Epson Corp. 149,300 2,806,545 
Sekisui Chemical Co. Ltd. 215,600 3,826,052 
Sekisui House Ltd. 312,600 5,731,858 
Seven & i Holdings Co. Ltd. 400,700 17,655,169 
Seven Bank Ltd. 311,700 1,049,265 
Sharp Corp. (a) 79,900 2,349,785 
Shimadzu Corp. 131,900 3,590,692 
Shimamura Co. Ltd. 11,800 1,376,235 
SHIMANO, Inc. 39,200 5,213,758 
SHIMIZU Corp. 297,300 2,947,980 
Shin-Etsu Chemical Co. Ltd. 206,600 20,797,960 
Shinsei Bank Ltd. 84,300 1,317,091 
Shionogi & Co. Ltd. 156,600 8,070,659 
Shiseido Co. Ltd. 202,000 13,141,456 
Shizuoka Bank Ltd. 280,000 2,848,152 
Showa Shell Sekiyu K.K. 98,400 1,392,470 
SMC Corp. 30,500 11,639,773 
SoftBank Corp. 438,600 33,512,860 
Sohgo Security Services Co., Ltd. 37,000 1,831,046 
Sony Corp. 672,000 31,386,511 
Sony Financial Holdings, Inc. 90,800 1,660,348 
Stanley Electric Co. Ltd. 76,100 2,760,122 
Start Today Co. Ltd. 99,900 2,887,706 
Subaru Corp. 327,500 11,021,519 
Sumco Corp. 125,700 3,106,855 
Sumitomo Chemical Co. Ltd. 834,000 4,798,628 
Sumitomo Corp. 632,500 11,395,067 
Sumitomo Electric Industries Ltd. 399,600 6,139,116 
Sumitomo Heavy Industries Ltd. 62,900 2,410,821 
Sumitomo Metal Mining Co. Ltd. 130,200 5,595,313 
Sumitomo Mitsui Financial Group, Inc. 714,300 29,770,786 
Sumitomo Mitsui Trust Holdings, Inc. 175,600 7,462,839 
Sumitomo Realty & Development Co. Ltd. 190,000 7,558,635 
Sumitomo Rubber Industries Ltd. 89,800 1,607,561 
Sundrug Co. Ltd. 38,700 1,993,057 
Suntory Beverage & Food Ltd. 72,900 3,594,319 
Suzuken Co. Ltd. 39,500 1,701,839 
Suzuki Motor Corp. 183,100 9,866,832 
Sysmex Corp. 83,400 7,384,852 
T&D Holdings, Inc. 277,100 4,712,119 
Taiheiyo Cement Corp. 64,800 2,456,970 
Taisei Corp. 107,900 5,833,233 
Taisho Pharmaceutical Holdings Co. Ltd. 16,300 1,564,096 
Taiyo Nippon Sanso Corp. 67,500 1,002,127 
Takashimaya Co. Ltd. 157,000 1,349,982 
Takeda Pharmaceutical Co. Ltd. 378,600 15,942,865 
TDK Corp. 68,500 5,921,378 
Teijin Ltd. 97,400 1,836,273 
Temp Holdings Co., Ltd. 94,700 2,254,886 
Terumo Corp. 171,700 9,737,834 
The Hachijuni Bank Ltd. 212,100 1,123,362 
The Suruga Bank Ltd. 93,600 1,274,029 
THK Co. Ltd. 64,500 2,259,742 
Tobu Railway Co. Ltd. 101,800 3,249,927 
Toho Co. Ltd. 61,700 2,065,697 
Toho Gas Co. Ltd. 40,500 1,229,967 
Tohoku Electric Power Co., Inc. 242,500 3,129,963 
Tokio Marine Holdings, Inc. 358,000 16,937,212 
Tokyo Electric Power Co., Inc. (b) 772,300 3,680,647 
Tokyo Electron Ltd. 83,400 16,062,816 
Tokyo Gas Co. Ltd. 208,100 5,581,314 
Tokyo Tatemono Co. Ltd. 107,700 1,642,297 
Tokyu Corp. 283,300 4,770,905 
Tokyu Fudosan Holdings Corp. 268,000 2,113,209 
Toppan Printing Co. Ltd. 286,000 2,396,414 
Toray Industries, Inc. 781,500 7,294,971 
Toshiba Corp. (b) 3,467,000 9,292,270 
Tosoh Corp. 153,400 2,725,053 
Toto Ltd. 74,800 4,249,067 
Toyo Seikan Group Holdings Ltd. 85,000 1,339,691 
Toyo Suisan Kaisha Ltd. 46,300 1,825,402 
Toyoda Gosei Co. Ltd. 36,100 916,039 
Toyota Industries Corp. 86,000 5,089,828 
Toyota Motor Corp. 1,386,450 90,912,858 
Toyota Tsusho Corp. 111,300 4,006,271 
Trend Micro, Inc. 62,600 3,756,458 
Tsuruha Holdings, Inc. 19,700 2,834,623 
Unicharm Corp. 215,000 6,047,613 
United Urban Investment Corp. 1,646 2,526,517 
USS Co. Ltd. 118,400 2,492,119 
West Japan Railway Co. 87,200 6,181,851 
Yahoo! Japan Corp. 747,200 3,075,741 
Yakult Honsha Co. Ltd. 58,600 4,181,120 
Yamada Denki Co. Ltd. (a) 329,100 1,727,986 
Yamaguchi Financial Group, Inc. 103,000 1,288,913 
Yamaha Corp. 88,600 4,287,358 
Yamaha Motor Co. Ltd. 148,500 4,754,391 
Yamato Holdings Co. Ltd. 184,500 4,755,111 
Yamazaki Baking Co. Ltd. 68,600 1,504,782 
Yaskawa Electric Corp. 133,500 5,458,699 
Yokogawa Electric Corp. 122,300 2,700,624 
Yokohama Rubber Co. Ltd. 62,600 1,480,251 
TOTAL JAPAN  1,935,786,225 
Luxembourg - 0.3%   
ArcelorMittal SA (Netherlands) 353,338 11,987,883 
Eurofins Scientific SA 6,001 3,245,120 
Millicom International Cellular SA (depository receipt) 35,324 2,355,834 
RTL Group SA 20,770 1,711,836 
SES SA (France) (depositary receipt) 193,841 2,996,255 
Tenaris SA 248,840 4,663,572 
TOTAL LUXEMBOURG  26,960,500 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 3,653,800 947,383 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 1,411,500 1,312,448 
HKT Trust/HKT Ltd. unit 1,975,000 2,598,480 
TOTAL MULTI-NATIONAL  3,910,928 
Netherlands - 4.5%   
ABN AMRO Group NV GDR 224,890 6,987,680 
AEGON NV 946,532 6,963,351 
AerCap Holdings NV (b) 71,467 3,725,575 
Airbus Group NV 308,595 36,223,861 
Akzo Nobel NV 133,766 12,099,033 
Akzo Nobel NV rights (b)(d) 133,766 313,379 
Altice NV Class A (a)(b) 287,981 2,760,565 
ASML Holding NV (Netherlands) 206,220 39,222,425 
CNH Industrial NV 544,840 6,737,396 
EXOR NV 57,011 4,236,813 
Ferrari NV 65,346 8,052,952 
Fiat Chrysler Automobiles NV 571,764 12,821,883 
Heineken Holding NV 61,422 6,245,384 
Heineken NV (Bearer) 137,749 14,521,979 
ING Groep NV (Certificaten Van Aandelen) 2,063,561 34,772,080 
Koninklijke Ahold Delhaize NV 680,517 16,439,956 
Koninklijke Boskalis Westminster NV 48,924 1,451,611 
Koninklijke DSM NV 96,325 9,982,760 
Koninklijke KPN NV 1,795,969 5,589,478 
Koninklijke Philips Electronics NV 499,812 21,155,158 
NN Group NV 162,913 7,808,362 
NXP Semiconductors NV (b) 180,126 18,895,217 
QIAGEN NV (Germany) (b) 114,677 3,779,227 
Randstad NV 62,878 4,053,222 
RELX NV 514,176 10,937,487 
STMicroelectronics NV (France) 339,117 7,404,720 
Unilever NV (Certificaten Van Aandelen) (Bearer) 865,182 49,599,663 
Vopak NV 38,148 1,884,162 
Wolters Kluwer NV 154,892 8,385,343 
TOTAL NETHERLANDS  363,050,722 
New Zealand - 0.2%   
Auckland International Airport Ltd. 510,069 2,289,683 
Fisher & Paykel Healthcare Corp. 304,827 2,734,573 
Fletcher Building Ltd. 447,209 1,985,481 
Mercury Nz Ltd. 375,430 842,647 
Meridian Energy Ltd. 661,479 1,368,325 
Ryman Healthcare Group Ltd. 208,814 1,557,368 
Spark New Zealand Ltd. 999,973 2,434,390 
TOTAL NEW ZEALAND  13,212,467 
Norway - 0.7%   
DNB ASA 521,242 9,747,930 
Gjensidige Forsikring ASA 103,916 1,647,672 
Marine Harvest ASA 219,447 4,777,485 
Norsk Hydro ASA 707,628 4,419,813 
Orkla ASA 430,000 3,984,668 
Schibsted ASA (B Shares) 53,186 1,432,030 
Statoil ASA 615,602 15,742,611 
Telenor ASA 399,782 8,848,736 
Yara International ASA 93,755 3,961,825 
TOTAL NORWAY  54,562,770 
Papua New Guinea - 0.1%   
Oil Search Ltd. ADR 733,380 4,314,526 
Portugal - 0.2%   
Energias de Portugal SA 1,261,660 4,686,534 
Galp Energia SGPS SA Class B 268,554 5,161,327 
Jeronimo Martins SGPS SA 134,415 2,360,126 
TOTAL PORTUGAL  12,207,987 
Singapore - 1.3%   
Ascendas Real Estate Investment Trust 1,298,100 2,604,108 
CapitaCommercial Trust (REIT) 1,311,458 1,791,711 
CapitaLand Ltd. 1,364,700 3,848,249 
CapitaMall Trust 1,281,700 2,024,019 
City Developments Ltd. 211,700 2,011,765 
ComfortDelgro Corp. Ltd. 1,167,900 1,971,168 
DBS Group Holdings Ltd. 954,177 22,014,856 
Hutchison Port Holdings Trust 2,709,762 903,439 
Jardine Cycle & Carriage Ltd. 52,600 1,353,336 
Keppel Corp. Ltd. 779,800 4,782,640 
Oversea-Chinese Banking Corp. Ltd. 1,674,556 17,295,801 
Sembcorp Industries Ltd. 511,100 1,177,279 
Singapore Airlines Ltd. 293,900 2,398,038 
Singapore Airport Terminal Service Ltd. 348,700 1,448,987 
Singapore Exchange Ltd. 433,000 2,510,977 
Singapore Press Holdings Ltd. 838,700 1,713,830 
Singapore Technologies Engineering Ltd. 820,500 2,147,113 
Singapore Telecommunications Ltd. 4,358,300 11,528,122 
StarHub Ltd. 349,500 596,218 
Suntec (REIT) 1,309,500 1,924,844 
United Overseas Bank Ltd. 712,372 16,131,115 
UOL Group Ltd. 263,091 1,737,617 
Wilmar International Ltd. 834,000 2,040,321 
Yangzijiang Shipbuilding Holdings Ltd. 1,235,600 1,078,980 
TOTAL SINGAPORE  107,034,533 
Spain - 3.2%   
Abertis Infraestructuras SA 368,561 8,127,056 
ACS Actividades de Construccion y Servicios SA 126,451 5,329,249 
Aena Sme SA (c) 35,938 7,425,523 
Amadeus IT Holding SA Class A 233,460 17,112,926 
Banco Bilbao Vizcaya Argentaria SA 3,544,646 28,683,482 
Banco de Sabadell SA 2,815,300 5,529,704 
Banco Santander SA (Spain) 8,570,797 55,611,058 
Bankia SA 647,437 2,851,388 
Bankinter SA 361,665 3,790,961 
CaixaBank SA 1,910,581 9,290,915 
Enagas SA 118,461 3,453,312 
Endesa SA 168,958 3,952,132 
Ferrovial SA 256,778 5,499,359 
Gamesa Corporacion Tecnologica SA (a) 127,026 2,188,202 
Gas Natural SDG SA 184,876 4,668,288 
Grifols SA 157,594 4,443,751 
Iberdrola SA 3,084,116 23,895,612 
Inditex SA 579,749 18,048,704 
International Consolidated Airlines Group SA 323,690 2,803,449 
MAPFRE SA (Reg.) 580,167 2,020,558 
Red Electrica Corporacion SA 230,126 4,793,622 
Repsol SA 666,921 12,765,175 
Telefonica SA 2,483,807 25,311,204 
TOTAL SPAIN  257,595,630 
Sweden - 2.5%   
Alfa Laval AB 156,757 3,897,152 
ASSA ABLOY AB (B Shares) 533,464 11,221,651 
Atlas Copco AB:   
(A Shares) 360,700 14,174,013 
(B Shares) 203,206 7,247,205 
Boliden AB 144,880 5,042,959 
Electrolux AB (B Shares) 126,881 3,351,461 
Essity AB Class B 322,196 8,205,159 
Getinge AB (B Shares) 124,257 1,158,757 
H&M Hennes & Mauritz AB (B Shares) (a) 504,667 8,672,393 
Hexagon AB (B Shares) 137,339 7,967,455 
Husqvarna AB (B Shares) 215,949 2,082,387 
ICA Gruppen AB (a) 43,487 1,353,281 
Industrivarden AB (C Shares) 86,763 1,834,511 
Investor AB (B Shares) 242,025 10,588,499 
Kinnevik AB (B Shares) 123,976 4,489,478 
Lundbergfoeretagen AB 19,619 1,333,079 
Lundin Petroleum AB 100,202 2,771,485 
Nordea Bank AB 1,614,250 16,476,811 
Sandvik AB 600,859 10,292,618 
Securitas AB (B Shares) 170,021 2,757,103 
Skandinaviska Enskilda Banken AB (A Shares) 801,613 7,552,326 
Skanska AB (B Shares) 178,027 3,482,613 
SKF AB (B Shares) 200,388 4,074,513 
Svenska Handelsbanken AB (A Shares) 812,593 9,062,252 
Swedbank AB (A Shares) 481,953 10,509,604 
Swedish Match Co. AB 96,927 4,361,170 
Tele2 AB (B Shares) 193,591 2,520,299 
Telefonaktiebolaget LM Ericsson (B Shares) 1,632,503 12,445,339 
TeliaSonera AB 1,497,068 7,382,206 
Volvo AB (B Shares) 830,847 14,156,369 
TOTAL SWEDEN  200,464,148 
Switzerland - 7.5%   
ABB Ltd. (Reg.) 979,295 22,832,829 
Adecco SA (Reg.) 85,903 5,715,887 
Baloise Holdings AG 26,318 4,188,041 
Barry Callebaut AG 1,138 2,052,075 
Clariant AG (Reg.) 123,888 2,876,552 
Coca-Cola HBC AG 95,522 3,213,986 
Compagnie Financiere Richemont SA Series A 277,356 26,365,113 
Credit Suisse Group AG 1,290,254 21,761,737 
Dufry AG 18,769 2,667,622 
Ems-Chemie Holding AG 4,226 2,622,593 
Galenica AG 26,054 4,134,199 
Geberit AG (Reg.) 19,742 8,458,580 
Givaudan SA 4,909 10,991,999 
Julius Baer Group Ltd. 118,189 7,014,325 
Kuehne & Nagel International AG 28,499 4,457,462 
Lafargeholcim Ltd. (Reg.) 242,072 13,522,811 
Lindt & Spruengli AG 54 4,108,577 
Lindt & Spruengli AG (participation certificate) 563 3,624,561 
Lonza Group AG 39,660 9,772,928 
Nestle SA (Reg. S) 1,652,671 128,032,560 
Novartis AG 1,181,558 90,949,620 
Pargesa Holding SA 20,477 1,924,755 
Partners Group Holding AG 9,188 6,735,703 
Roche Holding AG (participation certificate) 373,186 82,917,253 
Schindler Holding AG:   
(participation certificate) 21,057 4,368,637 
(Reg.) 11,161 2,242,336 
SGS SA (Reg.) 2,820 6,877,841 
Sika AG 1,139 8,309,758 
Sonova Holding AG Class B 27,660 4,583,019 
Straumann Holding AG 5,473 3,741,632 
Swatch Group AG (Bearer) 16,296 7,868,452 
Swatch Group AG (Bearer) (Reg.) 30,266 2,707,448 
Swiss Life Holding AG 17,227 6,058,133 
Swiss Prime Site AG 38,625 3,626,697 
Swiss Re Ltd. 167,168 15,967,833 
Swisscom AG 13,697 6,592,804 
UBS Group AG 1,944,362 32,903,078 
Zurich Insurance Group AG 80,399 25,682,298 
TOTAL SWITZERLAND  602,471,734 
United Kingdom - 16.3%   
3i Group PLC 518,157 6,716,873 
Admiral Group PLC 107,829 2,958,572 
Anglo American PLC (United Kingdom) 709,375 16,693,942 
Antofagasta PLC 209,291 2,801,785 
Ashtead Group PLC 265,786 7,438,901 
Associated British Foods PLC 189,575 7,057,113 
AstraZeneca PLC (United Kingdom) 672,624 47,085,277 
Auto Trader Group PLC (c) 518,518 2,519,544 
Aviva PLC 2,132,010 15,490,486 
Babcock International Group PLC 130,354 1,320,455 
BAE Systems PLC 1,693,562 14,209,368 
Barclays PLC 9,054,642 25,815,731 
Barratt Developments PLC 537,126 4,126,194 
Berkeley Group Holdings PLC 69,038 3,870,217 
BHP Billiton PLC 1,122,646 23,937,540 
BP PLC 10,508,163 78,054,278 
British American Tobacco PLC (United Kingdom) 1,218,291 66,820,228 
British Land Co. PLC 510,104 4,721,997 
BT Group PLC 4,482,168 15,384,330 
Bunzl PLC 177,327 5,153,502 
Burberry Group PLC 227,065 5,700,268 
Capita Group PLC 343,831 906,706 
Carnival PLC 98,812 6,422,321 
Centrica PLC 2,976,371 6,302,063 
Cobham PLC (b) 1,266,464 2,006,816 
Coca-Cola European Partners PLC 116,737 4,576,090 
Compass Group PLC 842,219 18,087,933 
ConvaTec Group PLC (c) 729,025 2,179,925 
Croda International PLC 70,119 4,306,329 
Diageo PLC 1,325,705 47,294,118 
Direct Line Insurance Group PLC 736,191 3,793,583 
easyJet PLC 82,245 1,800,304 
Fresnillo PLC 118,263 2,075,862 
G4S PLC (United Kingdom) 811,237 2,891,473 
GKN PLC 901,559 5,724,589 
GlaxoSmithKline PLC 2,612,994 52,409,258 
Hammerson PLC 422,316 3,191,899 
Hargreaves Lansdown PLC 136,416 3,360,751 
HSBC Holdings PLC (United Kingdom) 10,618,582 105,718,432 
IMI PLC 140,858 2,117,598 
Imperial Tobacco Group PLC 507,468 18,195,850 
InterContinental Hotel Group PLC 95,496 6,033,128 
Intertek Group PLC 85,219 5,749,902 
Investec PLC 357,102 2,838,627 
ITV PLC 1,915,558 3,999,236 
J Sainsbury PLC 858,827 3,653,453 
John Wood Group PLC 364,621 2,854,223 
Johnson Matthey PLC 101,890 4,620,558 
Kingfisher PLC 1,142,069 4,762,923 
Land Securities Group PLC 396,051 5,389,186 
Legal & General Group PLC 3,172,785 11,793,527 
Lloyds Banking Group PLC 38,207,380 33,887,951 
London Stock Exchange Group PLC 165,973 9,825,286 
Marks & Spencer Group PLC 849,673 3,359,646 
Mediclinic International PLC 199,567 1,843,532 
Meggitt PLC 417,430 2,714,769 
Melrose Industries PLC 1,053,297 3,306,169 
Merlin Entertainments PLC (c) 368,769 1,867,263 
Micro Focus International PLC 228,928 3,947,436 
Mondi PLC 193,555 5,398,625 
National Grid PLC 1,797,384 20,854,737 
Next PLC 77,105 5,579,268 
Old Mutual PLC 2,623,623 9,087,646 
Pearson PLC 430,864 4,939,702 
Persimmon PLC 162,700 6,081,304 
Prudential PLC 1,373,595 35,320,703 
Reckitt Benckiser Group PLC 355,060 27,853,775 
RELX PLC 567,070 12,135,753 
Rio Tinto PLC 644,262 35,116,109 
Rolls-Royce Holdings PLC 880,464 10,181,932 
Royal Bank of Scotland Group PLC (b) 1,909,037 7,069,547 
Royal Dutch Shell PLC:   
Class A (United Kingdom) 2,411,541 83,900,445 
Class B (United Kingdom) 1,991,066 71,078,795 
Royal Mail PLC 479,473 3,836,446 
RSA Insurance Group PLC 540,274 4,889,710 
Sage Group PLC 574,521 5,024,070 
Schroders PLC 67,079 3,048,396 
Scottish & Southern Energy PLC 540,481 10,257,576 
Segro PLC 531,775 4,730,796 
Severn Trent PLC 126,279 3,372,657 
SKY PLC 547,977 10,395,631 
Smith & Nephew PLC 466,132 8,926,914 
Smiths Group PLC 209,896 4,616,197 
St. James's Place Capital PLC 281,420 4,403,152 
Standard Chartered PLC (United Kingdom) 1,752,143 18,501,384 
Standard Life PLC 1,425,881 7,170,877 
Taylor Wimpey PLC 1,739,481 4,591,921 
Tesco PLC 5,168,251 16,739,649 
The Weir Group PLC 128,568 3,780,711 
Travis Perkins PLC 134,563 2,350,859 
Unilever PLC 654,695 36,723,192 
United Utilities Group PLC 357,328 3,656,049 
Vodafone Group PLC 14,164,509 41,335,086 
Whitbread PLC 97,774 5,762,460 
WM Morrison Supermarkets PLC 1,194,898 3,999,034 
TOTAL UNITED KINGDOM  1,306,396,424 
TOTAL COMMON STOCKS   
(Cost $7,094,864,443)  7,914,079,623 
Nonconvertible Preferred Stocks - 0.6%   
Germany - 0.6%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 28,776 2,786,942 
Fuchs Petrolub AG 37,410 2,012,153 
Henkel AG & Co. KGaA 93,960 11,959,327 
Porsche Automobil Holding SE (Germany) 80,692 6,899,011 
Volkswagen AG 99,379 20,622,532 
TOTAL GERMANY  44,279,965 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 3,162,776 2,723,210 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (b) 61,703,899 84,948 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $39,148,627)  47,088,123 
 Principal Amount Value 
Government Obligations - 0.1%   
United States of America - 0.1%   
U.S. Treasury Bills, yield at date of purchase 1.69% 6/28/18 (e)
(Cost $4,986,410) 
5,000,000 4,986,386 
 Shares Value 
Money Market Funds - 1.0%   
Fidelity Cash Central Fund, 1.74% (f) 30,954,035 30,960,226 
Fidelity Securities Lending Cash Central Fund 1.74% (f)(g) 53,050,742 53,056,047 
TOTAL MONEY MARKET FUNDS   
(Cost $84,016,273)  84,016,273 
TOTAL INVESTMENT IN SECURITIES - 100.3%   
(Cost $7,223,015,753)  8,050,170,405 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (24,975,880) 
NET ASSETS - 100%  $8,025,194,525 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 641 June 2018 $64,949,325 $191,917 $191,917 

The notional amount of futures purchased as a percentage of Net Assets is 0.8%

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

Legend

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

 (b) Non-income producing

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $48,099,880 or 0.6% of net assets.

 (d) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

 (e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $4,986,386.

 (f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (g) Investment made with cash collateral received from securities on loan.


Affiliated Central Funds

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 $650,346 
Fidelity Securities Lending Cash Central Fund 369,227 
Total $1,019,573 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $1,009,516,395 $645,107,926 $364,408,469 $-- 
Consumer Staples 863,335,393 396,925,647 466,409,746 -- 
Energy 457,662,637 66,620,984 391,041,653 -- 
Financials 1,682,468,261 693,140,638 989,327,623 -- 
Health Care 796,559,534 227,106,508 569,453,026 -- 
Industrials 1,146,939,096 811,052,931 335,886,165 -- 
Information Technology 515,708,985 327,858,885 187,850,100 -- 
Materials 641,997,250 370,245,366 271,751,884 -- 
Real Estate 282,416,415 136,987,441 145,428,974 -- 
Telecommunication Services 308,222,898 43,854,205 264,368,693 -- 
Utilities 256,340,882 162,263,513 94,077,369 -- 
Government Obligations 4,986,386 -- 4,986,386 -- 
Money Market Funds 84,016,273 84,016,273 -- -- 
Total Investments in Securities: $8,050,170,405 $3,965,180,317 $4,084,990,088 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $191,917 $191,917 $-- $-- 
Total Assets $191,917 $191,917 $-- $-- 
Total Derivative Instruments: $191,917 $191,917 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $862,344,946 
Level 2 to Level 1 $1,288,841,438 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $191,917 $0 
Total Equity Risk 191,917 
Total Value of Derivatives $191,917 $0 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $50,917,715) — See accompanying schedule:
Unaffiliated issuers (cost $7,138,999,480) 
$7,966,154,132  
Fidelity Central Funds (cost $84,016,273) 84,016,273  
Total Investment in Securities (cost $7,223,015,753)  $8,050,170,405 
Segregated cash with brokers for derivative instruments  1,508,355 
Foreign currency held at value (cost $5,709,738)  5,688,679 
Receivable for investments sold  4,333,773 
Receivable for fund shares sold  11,046,153 
Dividends receivable  40,743,809 
Interest receivable  11,923 
Distributions receivable from Fidelity Central Funds  195,328 
Receivable from investment adviser for expense reductions  529,597 
Total assets  8,114,228,022 
Liabilities   
Payable to custodian bank $125,281  
Payable for investments purchased   
Regular delivery 29,906,033  
Delayed delivery 313,379  
Payable for fund shares redeemed 4,300,774  
Accrued management fee 331,132  
Payable for daily variation margin on futures contracts 231,714  
Other affiliated payables 496,698  
Other payables and accrued expenses 272,488  
Collateral on securities loaned 53,055,998  
Total liabilities  89,033,497 
Net Assets  $8,025,194,525 
Net Assets consist of:   
Paid in capital  $7,129,200,319 
Undistributed net investment income  90,554,599 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (21,360,528) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  826,800,135 
Net Assets, for 641,608,477 shares outstanding  $8,025,194,525 
Net Asset Value, offering price and redemption price per share ($8,025,194,525 ÷ 641,608,477 shares)  $12.51 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $121,328,524 
Interest  11,690 
Income from Fidelity Central Funds  1,019,573 
Income before foreign taxes withheld  122,359,787 
Less foreign taxes withheld  (11,482,026) 
Total income  110,877,761 
Expenses   
Management fee $1,862,099  
Transfer agent fees 2,793,149  
Independent trustees' fees and expenses 14,093  
Interest 17,373  
Miscellaneous 9,997  
Total expenses before reductions 4,696,711  
Expense reductions (2,981,539) 1,715,172 
Net investment income (loss)  109,162,589 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (9,976,934)  
Fidelity Central Funds (1,032)  
Foreign currency transactions 1,983,918  
Futures contracts 3,728,161  
Total net realized gain (loss)  (4,265,887) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 121,087,972  
Assets and liabilities in foreign currencies (405,629)  
Futures contracts (594,176)  
Total change in net unrealized appreciation (depreciation)  120,088,167 
Net gain (loss)  115,822,280 
Net increase (decrease) in net assets resulting from operations  $224,984,869 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $109,162,589 $111,164,788 
Net realized gain (loss) (4,265,887) 25,142,561 
Change in net unrealized appreciation (depreciation) 120,088,167 697,686,790 
Net increase (decrease) in net assets resulting from operations 224,984,869 833,994,139 
Distributions to shareholders from net investment income (117,209,856) (22,054,375) 
Distributions to shareholders from net realized gain (37,507,121) (4,901,006) 
Total distributions (154,716,977) (26,955,381) 
Share transactions   
Proceeds from sales of shares 2,826,785,708 4,793,467,137 
Reinvestment of distributions 63,596,711 7,808,369 
Cost of shares redeemed (1,301,322,854) (865,597,592) 
Net increase (decrease) in net assets resulting from share transactions 1,589,059,565 3,935,677,914 
Total increase (decrease) in net assets 1,659,327,457 4,742,716,672 
Net Assets   
Beginning of period 6,365,867,068 1,623,150,396 
End of period $8,025,194,525 $6,365,867,068 
Other Information   
Undistributed net investment income end of period $90,554,599 $98,601,866 
Shares   
Sold 226,606,963 429,641,022 
Issued in reinvestment of distributions 5,217,121 773,094 
Redeemed (103,389,125) (76,472,234) 
Net increase (decrease) 128,434,959 353,941,882 

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


Financial Highlights

Fidelity SAI International Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.40 $10.19 $10.00 
Income from Investment Operations    
Net investment income (loss)B .18 .33 .25 
Net realized and unrealized gain (loss) .19 2.02 (.06) 
Total from investment operations .37 2.35 .19 
Distributions from net investment income (.20) (.12) – 
Distributions from net realized gain (.06) (.03) – 
Total distributions (.26) (.14)C – 
Net asset value, end of period $12.51 $12.40 $10.19 
Total ReturnD,E 3.07% 23.41% 1.90% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .13%H .12% .21%H 
Expenses net of fee waivers, if any .05%H .05% .07%H 
Expenses net of all reductions .05%H .05% .07%H 
Net investment income (loss) 2.93%H 2.89% 3.02%H 
Supplemental Data    
Net assets, end of period (000 omitted) $8,025,195 $6,365,867 $1,623,150 
Portfolio turnover rateI 6%H 2% 1%H 

 A For the period January 5, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Total distributions of $.14 per share is comprised of distributions from net investment income of $.117 and distributions from net realized gain of $.026 per share.

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

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

 F 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.

 G 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.

 H Annualized

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


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity SAI International Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

2. Investments in Fidelity Central Funds.

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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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 April 30, 2018, including information on transfers between Levels 1 and 2 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.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

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. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

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

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $1,053,837,097 
Gross unrealized depreciation (241,410,822) 
Net unrealized appreciation (depreciation) $812,426,275 
Tax cost $7,237,936,047 

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in the Fund's Schedule of Investments. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. 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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $1,746,051,251 and $216,243,567, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. 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 .05% of the Fund's average net assets. Under the expense contract, total expenses of the Fund are limited to an annual rate of .125% of the Fund's average net assets, with certain exceptions.

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.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of the investment adviser, is the Fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC receives an asset-based fee of .075% of the Fund's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company (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 $33,156,600 1.89% $17,373 

Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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 $9,997 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

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. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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 $369,227.

9. Expense Reductions.

The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .045% of average net assets. This reimbursement will remain in place through December 31, 2018. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $2,980,651.

In addition, through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's expenses by $888.

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.

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 (November 1, 2017 to April 30, 2018).

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.

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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Actual .05% $1,000.00 $1,030.70 $.25 
Hypothetical-C  $1,000.00 $1,024.55 $.25 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

Corporate Headquarters

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Boston, MA 02210

www.fidelity.com

SV7-SANN-0618
1.9870291.102


Fidelity® SAI Emerging Markets Index Fund

Offered exclusively to certain clients of the Adviser or its affiliates - not available for sale to the general public. Fidelity SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers LLC.



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Cayman Islands 15.7% 
   Korea (South) 15.5% 
   Taiwan 10.9% 
   China 9.9% 
   India 8.5% 
   Brazil 7.1% 
   South Africa 6.5% 
   Hong Kong 3.4% 
   Russia 3.3% 
   Other* 19.2% 


 * 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 April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 5.1 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 4.4 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 3.7 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 3.4 
Naspers Ltd. Class N (South Africa, Media) 1.9 
China Construction Bank Corp. (H Shares) (China, Banks) 1.6 
Baidu.com, Inc. sponsored ADR (Cayman Islands, Internet Software & Services) 1.3 
Industrial & Commercial Bank of China Ltd. (H Shares) (China, Banks) 1.2 
China Mobile Ltd. (Hong Kong, Wireless Telecommunication Services) 1.1 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) (China, Insurance) 0.9 
 24.6 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Information Technology 26.8 
Financials 23.8 
Consumer Discretionary 9.6 
Materials 7.6 
Energy 7.4 
Consumer Staples 6.7 
Industrials 4.9 
Telecommunication Services 4.8 
Real Estate 2.8 
Health Care 2.7 

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 99.9 
Short-Term Investments and Net Other Assets (Liabilities) 0.1 

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.3%   
 Shares Value 
Bermuda - 0.9%   
Alibaba Health Information Technology Ltd. (a)(b) 2,340,000 $1,176,726 
Alibaba Pictures Group Ltd. (a) 9,050,000 1,019,451 
Beijing Enterprises Water Group Ltd. 3,942,000 2,288,658 
Brilliance China Automotive Holdings Ltd. 2,152,000 3,831,672 
China Gas Holdings Ltd. 1,237,400 4,384,949 
China Resource Gas Group Ltd. 632,000 2,324,247 
Cosco Shipping Ports Ltd. 1,194,243 1,050,307 
Credicorp Ltd. (United States) 48,433 11,260,188 
GOME Electrical Appliances Holdings Ltd. (b) 7,645,000 822,347 
Haier Electronics Group Co. Ltd. 897,000 3,103,418 
Kunlun Energy Co. Ltd. 2,296,000 1,965,873 
Nine Dragons Paper (Holdings) Ltd. 1,163,000 1,734,567 
Sihuan Pharmaceutical Holdings Group Ltd. 2,691,000 650,382 
TOTAL BERMUDA  35,612,785 
Brazil - 4.4%   
Ambev SA 3,219,298 21,439,319 
Atacadao Distribuicao Comercio e Industria Ltda 282,600 1,218,103 
Banco Bradesco SA 685,755 6,244,458 
Banco do Brasil SA 611,305 6,404,114 
Banco Santander SA (Brasil) unit 293,400 3,191,789 
BB Seguridade Participacoes SA 497,958 3,906,110 
BM&F BOVESPA SA 1,464,980 10,580,039 
BR Malls Participacoes SA 589,516 1,837,610 
Brasil Foods SA (a) 317,769 2,249,564 
CCR SA 862,712 2,945,317 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 153,800 837,225 
Cielo SA 869,831 4,767,286 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 243,200 2,440,886 
Companhia Energetica de Minas Gerais (CEMIG) 4,503 9,898 
Companhia Siderurgica Nacional SA (CSN) (a) 444,300 1,113,540 
Cosan SA Industria e Comercio 116,100 1,318,354 
Drogasil SA 164,600 3,231,670 
EDP Energias do Brasil SA 216,430 858,133 
Embraer SA 474,100 2,996,282 
ENGIE Brasil Energia SA 117,096 1,236,407 
Equatorial Energia SA 141,700 2,877,927 
Fibria Celulose SA 177,400 3,484,498 
Hypermarcas SA 247,500 2,225,465 
Itausa-Investimentos Itau SA 60,923 234,774 
JBS SA 582,500 1,454,920 
Klabin SA unit 420,000 2,545,273 
Kroton Educacional SA 991,282 3,964,336 
Localiza Rent A Car SA 356,320 2,836,768 
Lojas Renner SA 507,540 4,724,503 
M. Dias Branco SA 72,400 909,340 
Multiplan Empreendimentos Imobiliarios SA 60,473 1,148,283 
Natura Cosmeticos SA 122,700 1,128,159 
Odontoprev SA 190,500 817,314 
Petroleo Brasileiro SA - Petrobras (ON) (a) 2,002,665 14,080,166 
Porto Seguro SA 80,500 1,038,650 
Qualicorp SA 164,200 1,141,319 
Rumo SA (a) 776,900 3,293,265 
Sul America SA unit 145,152 895,806 
Suzano Papel e Celulose SA 314,700 3,688,508 
Terna Participacoes SA unit 155,800 946,843 
TIM Participacoes SA 604,300 2,751,366 
Ultrapar Participacoes SA 257,369 4,441,070 
Vale SA 2,164,706 30,074,287 
Vale SA sponsored ADR (b) 102,238 1,414,974 
Weg SA 522,340 2,651,063 
TOTAL BRAZIL  173,594,981 
Cayman Islands - 15.7%   
3SBio, Inc. (b)(c) 722,500 1,552,412 
58.com, Inc. ADR (a) 65,380 5,713,558 
AAC Technology Holdings, Inc. 525,933 7,548,595 
Agile Property Holdings Ltd. 1,114,000 2,197,470 
Airtac International Group 87,000 1,506,901 
Alibaba Group Holding Ltd. sponsored ADR (a)(b) 824,426 147,193,018 
Anta Sports Products Ltd. 764,000 4,359,532 
Autohome, Inc. ADR Class A (b) 37,848 3,692,072 
Baidu.com, Inc. sponsored ADR (a) 197,005 49,428,555 
Chailease Holding Co. Ltd. 854,000 3,110,493 
China Conch Venture Holdings Ltd. 1,154,000 3,582,659 
China Huishan Dairy Holdings Co. Ltd. (a)(d) 2,302,000 61,593 
China Medical System Holdings Ltd. 973,000 2,382,660 
China Mengniu Dairy Co. Ltd. 1,975,000 6,366,988 
China Resources Land Ltd. 1,994,812 7,491,972 
China State Construction International Holdings Ltd. 1,434,500 1,865,644 
CIFI Holdings Group Co. Ltd. 2,430,000 1,913,497 
Country Garden Holdings Co. Ltd. 3,826,000 7,801,467 
Ctrip.com International Ltd. ADR (a)(b) 282,079 11,537,031 
ENN Energy Holdings Ltd. 539,043 5,040,878 
Evergrande Real Estate Group Ltd. (a)(b) 2,359,000 7,472,312 
Fullshare Holdings Ltd. (b) 4,912,500 2,678,762 
GCL-Poly Energy Holdings Ltd. (a)(b) 9,243,000 1,143,313 
Geely Automobile Holdings Ltd. 3,536,517 9,301,153 
General Interface Solution Holding Ltd. 120,000 717,054 
Haitian International Holdings Ltd. 453,000 1,205,570 
Hengan International Group Co. Ltd. 521,500 4,637,878 
JD.com, Inc. sponsored ADR (a) 470,243 17,168,572 
Kingboard Chemical Holdings Ltd. 454,500 1,849,039 
Kingsoft Corp. Ltd. 559,000 1,659,881 
Lee & Man Paper Manufacturing Ltd. 1,124,000 1,238,062 
Longfor Properties Co. Ltd. 1,049,000 3,137,280 
Meitu, Inc. (a)(c) 910,000 959,658 
Momo, Inc. ADR (a)(b) 76,793 2,680,076 
NetEase, Inc. ADR 56,780 14,596,435 
New Oriental Education & Technology Group, Inc. sponsored ADR 96,394 8,660,037 
Nexteer Auto Group Ltd. 623,000 958,530 
Semiconductor Manufacturing International Corp. (a)(b) 2,095,400 2,694,880 
Shenzhou International Group Holdings Ltd. 541,000 5,905,684 
Shimao Property Holdings Ltd. 843,000 2,229,790 
SINA Corp. (a) 40,704 3,888,860 
Sino Biopharmaceutical Ltd. 3,195,000 6,728,063 
SOHO China Ltd. 1,475,500 757,649 
Sunac China Holdings Ltd. (b) 1,732,000 7,357,064 
Sunny Optical Technology Group Co. Ltd. 510,800 8,335,049 
TAL Education Group ADR 229,079 8,343,057 
Tencent Holdings Ltd. 4,077,000 200,437,249 
Tingyi (Cayman Islands) Holding Corp. 1,396,000 2,628,105 
Vipshop Holdings Ltd. ADR (a) 288,851 4,471,413 
Want Want China Holdings Ltd. 3,554,418 3,140,935 
Weibo Corp. sponsored ADR (a)(b) 33,090 3,789,467 
YY, Inc. ADR (a) 31,183 3,005,729 
Zhen Ding Technology Holding Ltd. 314,000 682,043 
TOTAL CAYMAN ISLANDS  618,805,644 
Chile - 1.1%   
AES Gener SA 2,291,485 642,584 
Aguas Andinas SA 1,874,013 1,246,541 
Banco de Chile 17,683,278 2,921,362 
Banco de Credito e Inversiones 30,948 2,342,393 
Banco Santander Chile 46,913,148 3,916,058 
Cencosud SA 1,021,925 3,038,817 
Colbun SA 5,602,961 1,393,067 
Compania Cervecerias Unidas SA 105,331 1,459,103 
Compania de Petroleos de Chile SA (COPEC) 277,572 4,525,434 
CorpBanca SA 108,934,217 1,113,567 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 114,625 1,352,828 
Empresas CMPC SA 889,944 3,653,448 
Enel Chile SA 20,018,608 2,480,785 
Enersis SA 20,474,933 4,673,423 
LATAM Airlines Group SA 215,692 3,308,736 
S.A.C.I. Falabella 519,172 5,035,467 
TOTAL CHILE  43,103,613 
China - 9.9%   
Agricultural Bank of China Ltd. (H Shares) 18,733,297 10,562,067 
Air China Ltd. (H Shares) 1,298,000 1,711,150 
Aluminum Corp. of China Ltd. (H Shares) (a) 2,802,000 1,582,534 
Anhui Conch Cement Co. Ltd. (H Shares) 887,500 5,539,314 
AviChina Industry & Technology Co. Ltd. (H Shares) 1,507,000 950,167 
Bank Communications Co. Ltd. (H Shares) 6,214,176 5,084,969 
Bank of China Ltd. (H Shares) 56,891,464 30,882,464 
Beijing Capital International Airport Co. Ltd. (H Shares) 1,204,000 1,639,816 
BYD Co. Ltd. (H Shares) (b) 455,500 3,184,434 
CGN Power Co. Ltd. (H Shares) (c) 7,558,447 2,061,220 
China Cinda Asset Management Co. Ltd. (H Shares) 6,244,000 2,228,529 
China CITIC Bank Corp. Ltd. (H Shares) 6,347,051 4,537,179 
China Communications Construction Co. Ltd. (H Shares) 3,149,000 3,628,213 
China Communications Services Corp. Ltd. (H Shares) 1,700,000 1,067,294 
China Construction Bank Corp. (H Shares) 60,224,000 63,094,219 
China Everbright Bank Co. Ltd. (H Shares) 1,788,000 893,534 
China Galaxy Securities Co. Ltd. (H Shares) 2,361,500 1,551,117 
China Huarong Asset Management Co. Ltd. 7,113,000 2,449,776 
China Life Insurance Co. Ltd. (H Shares) 5,336,747 15,134,801 
China Longyuan Power Grid Corp. Ltd. (H Shares) 2,259,000 2,218,836 
China Merchants Bank Co. Ltd. (H Shares) 2,799,921 12,208,776 
China Minsheng Banking Corp. Ltd. (H Shares) 3,933,551 3,681,019 
China Molybdenum Co. Ltd. (H Shares) 2,658,000 1,997,402 
China National Building Materials Co. Ltd. (H Shares) (b) 2,790,000 3,259,541 
China Oilfield Services Ltd. (H Shares) 1,286,000 1,283,037 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 1,891,528 8,346,705 
China Petroleum & Chemical Corp. (H Shares) 18,284,704 17,806,731 
China Railway Construction Corp. Ltd. (H Shares) 1,401,000 1,659,105 
China Railway Group Ltd. (H Shares) 2,842,000 2,277,941 
China Shenhua Energy Co. Ltd. (H Shares) 2,439,602 5,983,998 
China Southern Airlines Ltd. (H Shares) 1,306,000 1,406,249 
China Telecom Corp. Ltd. (H Shares) 9,879,689 4,789,001 
China Vanke Co. Ltd. (H Shares) 841,900 3,479,446 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 1,781,646 1,362,912 
CITIC Securities Co. Ltd. (H Shares) 1,619,000 3,946,688 
CRRC Corp. Ltd. (H Shares) 2,949,000 2,606,561 
Dongfeng Motor Group Co. Ltd. (H Shares) 1,928,000 2,132,048 
Fuyao Glass Industries Group Co. Ltd. 358,800 1,233,223 
GF Securities Co. Ltd. (H Shares) 966,028 1,700,784 
Great Wall Motor Co. Ltd. (H Shares) (b) 2,203,500 2,285,473 
Guangzhou Automobile Group Co. Ltd. (H Shares) 1,496,000 2,740,247 
Guangzhou R&F Properties Co. Ltd. (H Shares) 686,000 1,631,032 
Haitong Securities Co. Ltd. (H Shares) 2,300,000 3,140,440 
Huaneng Power International, Inc. (H Shares) 3,010,186 1,989,433 
Huaneng Renewables Corp. Ltd. (H Shares) 3,402,000 1,510,838 
Huatai Securities Co. Ltd. (H Shares) (c) 1,160,200 2,350,086 
Industrial & Commercial Bank of China Ltd. (H Shares) 52,790,000 46,343,371 
Jiangsu Expressway Co. Ltd. (H Shares) 872,000 1,195,620 
Jiangxi Copper Co. Ltd. (H Shares) 887,000 1,261,045 
New China Life Insurance Co. Ltd. (H Shares) 588,000 2,741,492 
People's Insurance Co. of China Group (H Shares) 4,959,552 2,334,883 
PetroChina Co. Ltd. (H Shares) 15,176,790 11,183,310 
PICC Property & Casualty Co. Ltd. (H Shares) 3,270,379 5,854,532 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 3,731,541 36,462,379 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 1,340,000 823,482 
Shanghai Electric Group Co. Ltd. (H Shares) (a) 2,004,000 727,581 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 344,000 1,865,972 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 632,445 904,590 
Shanghai Pharma Holding Co. Ltd. (H Shares) 622,109 1,698,153 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 2,478,000 1,645,415 
Sinopharm Group Co. Ltd. (H Shares) 848,800 3,579,154 
TravelSky Technology Ltd. (H Shares) 663,000 1,936,642 
Tsingtao Brewery Co. Ltd. (H Shares) 256,000 1,325,413 
Weichai Power Co. Ltd. (H Shares) 1,378,000 1,595,239 
Yanzhou Coal Mining Co. Ltd. (H Shares) 1,318,000 1,649,242 
Zhejiang Expressway Co. Ltd. (H Shares) 1,020,000 1,047,458 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 388,927 2,062,042 
Zijin Mng Group Co. Ltd. (H Shares) 4,078,000 1,849,776 
ZTE Corp. (H Shares) (d) 476,200 1,076,068 
TOTAL CHINA  387,973,208 
Colombia - 0.3%   
Bancolombia SA 168,275 1,988,900 
Cementos Argos SA 331,801 1,172,957 
Ecopetrol SA 3,516,851 3,881,243 
Grupo de Inversiones Suramerica SA (a) 168,757 2,341,849 
Interconexion Electrica SA ESP 269,666 1,390,113 
Inversiones Argos SA 213,499 1,520,131 
TOTAL COLOMBIA  12,295,193 
Czech Republic - 0.2%   
Ceske Energeticke Zavody A/S 114,956 2,939,725 
Komercni Banka A/S 55,465 2,394,506 
MONETA Money Bank A/S (c) 371,952 1,339,021 
Telefonica Czech Rep A/S 42,520 581,791 
TOTAL CZECH REPUBLIC  7,255,043 
Egypt - 0.1%   
Commercial International Bank SAE 742,899 3,965,915 
Eastern Tobacco Co. 85,371 996,116 
Global Telecom Holding (a) 1,566,948 449,982 
TOTAL EGYPT  5,412,013 
Greece - 0.4%   
Alpha Bank AE (a) 988,624 2,614,559 
EFG Eurobank Ergasias SA (a) 1,322,550 1,675,370 
Ff Group (a) 23,462 444,824 
Greek Organization of Football Prognostics SA 159,566 1,913,431 
Hellenic Telecommunications Organization SA 175,373 2,551,954 
Jumbo SA 71,973 1,317,625 
National Bank of Greece SA (a) 3,904,689 1,631,495 
Piraeus Bank SA (a) 201,878 856,183 
Titan Cement Co. SA (Reg.) 35,827 945,333 
TOTAL GREECE  13,950,774 
Hong Kong - 3.4%   
Beijing Enterprises Holdings Ltd. 358,927 1,792,802 
BYD Electronic International Co. Ltd. 480,500 732,670 
China Everbright International Ltd. 1,753,000 2,458,855 
China Everbright Ltd. 656,000 1,443,572 
China Jinmao Holdings Group Ltd. 3,706,000 2,097,879 
China Merchants Holdings International Co. Ltd. 932,880 2,084,395 
China Mobile Ltd. 4,400,071 41,917,260 
China Overseas Land and Investment Ltd. 2,759,202 9,245,069 
China Resources Beer Holdings Co. Ltd. 1,154,144 4,970,816 
China Resources Pharmaceutical Group Ltd. 1,341,000 1,853,878 
China Resources Power Holdings Co. Ltd. 1,369,940 2,627,701 
China Taiping Insurance Group Ltd. 1,149,855 3,845,314 
China Unicom Ltd. 4,412,814 6,239,935 
CITIC Pacific Ltd. 4,137,941 6,310,363 
CNOOC Ltd. 12,796,584 21,648,157 
CSPC Pharmaceutical Group Ltd. 3,363,963 8,568,211 
Far East Horizon Ltd. 1,405,000 1,394,164 
Fosun International Ltd. 1,831,754 3,892,466 
Guangdong Investment Ltd. 2,093,126 3,239,809 
Lenovo Group Ltd. 5,122,000 2,431,805 
Shanghai Industrial Holdings Ltd. 372,241 976,124 
Sino-Ocean Group Holding Ltd. 2,151,000 1,493,573 
Sun Art Retail Group Ltd. 1,696,971 1,907,314 
TOTAL HONG KONG  133,172,132 
Hungary - 0.3%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 262,222 3,030,126 
OTP Bank PLC 171,119 7,476,098 
Richter Gedeon PLC 99,377 2,010,201 
TOTAL HUNGARY  12,516,425 
India - 8.5%   
ACC Ltd. 32,066 763,971 
Adani Ports & Special Economic Zone Ltd. 516,323 3,158,393 
Ambuja Cements Ltd. 423,923 1,595,625 
Ashok Leyland Ltd. 832,236 2,050,802 
Asian Paints Ltd. 204,598 3,691,937 
Aurobindo Pharma Ltd. 187,546 1,807,753 
Axis Bank Ltd. 1,288,362 9,987,972 
Bajaj Auto Ltd. 59,673 2,641,772 
Bajaj Finance Ltd. 123,057 3,518,072 
Bajaj Finserv Ltd. 27,160 2,234,371 
Bharat Forge Ltd. 148,962 1,729,898 
Bharat Heavy Electricals Ltd. 626,119 823,412 
Bharat Petroleum Corp. Ltd. 539,951 3,137,344 
Bharti Airtel Ltd. 1,005,927 6,177,294 
Bharti Infratel Ltd. 237,053 1,115,668 
Bosch Ltd. 5,207 1,516,975 
Britannia Industries Ltd. 20,540 1,703,322 
Cadila Healthcare Ltd. (a) 145,749 902,486 
Cipla Ltd. (a) 246,152 2,242,269 
Coal India Ltd. 485,806 2,079,481 
Container Corp. of India Ltd. 29,492 577,178 
Dabur India Ltd. 375,924 2,084,608 
Dr. Reddy's Laboratories Ltd. 68,795 2,186,109 
Dr. Reddy's Laboratories Ltd. sponsored ADR (b) 12,518 404,457 
Eicher Motors Ltd. 9,484 4,431,175 
GAIL India Ltd. 481,345 2,349,891 
Glenmark Pharmaceuticals Ltd. 99,500 854,590 
Godrej Consumer Products Ltd. 169,636 2,842,624 
Grasim Industries Ltd. 233,851 3,834,294 
Havells India Ltd. 177,834 1,458,516 
HCL Technologies Ltd. 396,230 6,264,190 
Hero Motocorp Ltd. 35,529 1,990,240 
Hindalco Industries Ltd. 830,160 2,920,742 
Hindustan Petroleum Corp. Ltd. 433,437 1,978,958 
Hindustan Unilever Ltd. 467,357 10,575,634 
Housing Development Finance Corp. Ltd. 1,086,172 30,731,090 
ICICI Bank Ltd. 1,707,536 7,297,485 
Idea Cellular Ltd. (a) 1,395,624 1,447,644 
IDFC Bank Ltd. 964,639 698,752 
Indiabulls Housing Finance Ltd. 227,204 4,448,376 
Indian Oil Corp. Ltd. 828,686 2,014,656 
Infosys Ltd. 1,252,111 22,545,433 
ITC Ltd. 2,448,721 10,348,308 
JSW Steel Ltd. 602,097 2,927,573 
Larsen & Toubro Ltd. 338,977 7,125,865 
LIC Housing Finance Ltd. 211,527 1,731,827 
Lupin Ltd. (a) 157,473 1,918,022 
Mahindra & Mahindra Financial Services Ltd. (a) 206,886 1,637,881 
Mahindra & Mahindra Ltd. 537,257 7,035,550 
Marico Ltd. 321,171 1,602,309 
Maruti Suzuki India Ltd. 76,049 10,053,898 
Motherson Sumi Systems Ltd. 449,303 2,380,538 
Nestle India Ltd. 16,477 2,328,119 
NTPC Ltd. 1,175,971 3,040,595 
Oil & Natural Gas Corp. Ltd. 912,825 2,474,101 
Petronet LNG Ltd. 426,702 1,452,791 
Piramal Enterprises Ltd. (a) 57,680 2,249,599 
Power Finance Corp. Ltd. 449,625 592,346 
Reliance Industries Ltd. 2,041,351 29,473,841 
Rural Electrification Corp. Ltd. 490,958 938,876 
Shree Cement Ltd. 5,951 1,513,698 
Shriram Transport Finance Co. Ltd. 104,898 2,532,289 
Siemens India Ltd. 50,590 852,319 
State Bank of India 1,227,491 4,535,439 
Sun Pharmaceutical Industries Ltd. 694,270 5,507,815 
Tata Consultancy Services Ltd. 329,094 17,452,846 
Tata Motors Ltd. (a) 1,146,079 5,820,392 
Tata Motors Ltd. Class A (a) 241,101 690,952 
Tata Power Co. Ltd. 790,606 1,046,846 
Tata Steel Ltd. 258,762 2,301,790 
Tech Mahindra Ltd. 333,576 3,352,879 
Titan Co. Ltd. (a) 221,085 3,257,273 
Ultratech Cemco Ltd. 62,521 3,854,611 
United Spirits Ltd. (a) 41,374 2,248,579 
UPL Ltd. 252,977 2,769,730 
Vakrangee Ltd. 301,211 451,499 
Vedanta Ltd. 1,074,005 4,789,540 
Wipro Ltd. 804,893 3,354,505 
Yes Bank Ltd. 1,227,012 6,654,131 
Zee Entertainment Enterprises Ltd. (a) 375,952 3,320,341 
TOTAL INDIA  332,434,972 
Indonesia - 1.9%   
PT Adaro Energy Tbk 10,258,000 1,343,297 
PT AKR Corporindo Tbk 1,287,200 450,724 
PT Astra International Tbk 14,415,859 7,378,425 
PT Bank Central Asia Tbk 7,062,070 11,167,130 
PT Bank Danamon Indonesia Tbk Series A 2,420,900 1,153,998 
PT Bank Mandiri (Persero) Tbk 13,287,598 6,730,895 
PT Bank Negara Indonesia (Persero) Tbk 5,310,600 3,057,398 
PT Bank Rakyat Indonesia Tbk 39,769,205 9,169,525 
PT Bank Tabungan Negara Tbk 3,022,200 673,520 
PT Bumi Serpong Damai Tbk 5,517,700 666,286 
PT Charoen Pokphand Indonesia Tbk 5,207,800 1,372,918 
PT Gudang Garam Tbk 343,000 1,703,980 
PT Hanjaya Mandala Sampoerna Tbk 6,631,800 1,680,463 
PT Indocement Tunggal Prakarsa Tbk 1,311,000 1,659,086 
PT Indofood CBP Sukses Makmur Tbk 1,672,300 1,038,939 
PT Indofood Sukses Makmur Tbk 3,142,800 1,571,308 
PT Jasa Marga Tbk 1,568,997 490,487 
PT Kalbe Farma Tbk 15,065,900 1,626,432 
PT Matahari Department Store Tbk 1,765,700 1,307,367 
PT Pakuwon Jati Tbk 16,393,600 692,954 
PT Perusahaan Gas Negara Tbk Series B 7,769,300 1,099,776 
PT Semen Gresik (Persero) Tbk 2,115,148 1,460,901 
PT Surya Citra Media Tbk 4,044,800 740,367 
PT Telekomunikasi Indonesia Tbk Series B 36,154,765 9,865,716 
PT Tower Bersama Infrastructure Tbk 1,447,500 576,499 
PT Unilever Indonesia Tbk 1,088,339 3,617,267 
PT United Tractors Tbk 1,195,700 2,917,369 
PT Waskita Karya Persero Tbk 3,393,600 536,079 
PT XL Axiata Tbk (a) 2,297,550 348,229 
TOTAL INDONESIA  76,097,335 
Isle of Man - 0.1%   
NEPI Rockcastle PLC 267,151 2,944,202 
Korea (South) - 14.7%   
AMOREPACIFIC Corp. 22,958 7,481,702 
AMOREPACIFIC Group, Inc. 20,514 2,739,223 
BGF Retail Co. Ltd. 5,589 996,801 
BGFretail Co. Ltd. 9,484 112,470 
BS Financial Group, Inc. 184,454 1,799,887 
Celltrion Healthcare Co. Ltd. 24,913 2,089,023 
Celltrion, Inc. 58,219 14,732,450 
Cheil Industries, Inc. 54,714 7,152,658 
Cheil Worldwide, Inc. 49,004 873,989 
CJ CheilJedang Corp. 5,877 1,882,308 
CJ Corp. 10,355 1,571,247 
CJ E&M Corp. 13,479 1,139,062 
Coway Co. Ltd. 37,240 3,042,697 
Daelim Industrial Co. 19,760 1,586,815 
Daewoo Engineering & Construction Co. Ltd. (a) 117,850 698,786 
Db Insurance Co. Ltd. 35,133 2,063,511 
DGB Financial Group Co. Ltd. 119,832 1,342,749 
Dong Suh Companies, Inc. 24,715 635,804 
Doosan Bobcat, Inc. 24,731 752,836 
Doosan Heavy Industries & Construction Co. Ltd. 37,580 628,132 
E-Mart Co. Ltd. 14,869 3,748,750 
GS Engineering & Construction Corp. 35,628 1,357,352 
GS Holdings Corp. 36,285 2,076,962 
GS Retail Co. Ltd. 19,131 664,541 
Hana Financial Group, Inc. 212,439 9,472,150 
Hankook Tire Co. Ltd. 52,776 2,436,934 
Hanmi Pharm Co. Ltd. 4,454 1,938,104 
Hanmi Science Co. Ltd. 9,027 655,789 
Hanon Systems 132,713 1,350,768 
Hanssem Co. Ltd. 7,526 818,712 
Hanwha Chemical Corp. 76,052 2,055,891 
Hanwha Corp. 31,889 1,189,594 
Hanwha Life Insurance Co. Ltd. 184,429 1,072,897 
Hanwha Techwin Co. Ltd. (a) 26,032 585,822 
Hotel Shilla Co. 22,323 2,417,973 
Hyosung Corp. 14,954 1,836,217 
Hyundai Department Store Co. Ltd. 9,946 961,235 
Hyundai Engineering & Construction Co. Ltd. 55,389 3,289,437 
Hyundai Fire & Marine Insurance Co. Ltd. 44,374 1,584,897 
Hyundai Glovis Co. Ltd. 13,326 2,096,721 
Hyundai Heavy Industries Co. Ltd. (a) 27,458 3,063,922 
Hyundai Industrial Development & Construction Co. (d) 42,843 1,856,260 
Hyundai Mobis 48,843 11,310,843 
Hyundai Motor Co. 110,145 16,456,054 
Hyundai Robotics Co. Ltd. 6,945 2,739,933 
Hyundai Steel Co. 56,872 3,218,193 
Hyundai Wia Corp. 11,516 577,453 
Industrial Bank of Korea 178,871 2,814,367 
ING Life Insurance Korea Ltd. (c) 23,292 896,076 
Kakao Corp. 32,497 3,368,272 
Kangwon Land, Inc. 83,531 2,254,169 
KB Financial Group, Inc. 284,981 16,147,750 
KCC Corp. 4,124 1,505,693 
KEPCO Plant Service & Engineering Co. Ltd. 15,922 753,783 
Kia Motors Corp. 190,362 5,883,682 
Korea Aerospace Industries Ltd. 48,485 1,955,834 
Korea Electric Power Corp. 185,292 6,464,442 
Korea Express Co. Ltd. (a) 5,662 827,418 
Korea Gas Corp. (a) 19,664 1,006,221 
Korea Investment Holdings Co. Ltd. 27,727 2,358,643 
Korea Zinc Co. Ltd. 6,033 2,442,100 
Korean Air Lines Co. Ltd. 33,608 1,071,703 
KT Corp. 2,035 51,603 
KT Corp. sponsored ADR 39,904 535,911 
KT&G Corp. 84,135 7,683,454 
Kumho Petro Chemical Co. Ltd. 12,985 1,303,441 
LG Chemical Ltd. 32,087 10,786,302 
LG Corp. 67,460 5,108,673 
LG Display Co. Ltd. 165,187 3,597,030 
LG Electronics, Inc. 76,458 7,282,224 
LG Household & Health Care Ltd. 6,726 8,604,356 
LG Innotek Co. Ltd. 10,076 1,096,112 
Lotte Chemical Corp. 10,966 4,239,255 
Lotte Confectionery Co. Ltd. 20,939 1,272,852 
Lotte Shopping Co. Ltd. 7,994 1,910,931 
Medy-Tox, Inc. 3,017 1,965,272 
Mirae Asset Daewoo Co. Ltd. 260,399 2,378,040 
NAVER Corp. 20,122 13,453,185 
NCSOFT Corp. 12,483 4,196,260 
Netmarble Corp. (c) 18,139 2,498,310 
Oci Co. Ltd. 11,869 1,728,939 
Orion Corp./Republic of Korea 15,462 1,797,529 
Ottogi Corp. 851 630,944 
POSCO 53,131 18,257,716 
Posco Daewoo Corp. 26,228 552,272 
S-Oil Corp. 32,015 3,288,419 
S1 Corp. 12,129 1,111,053 
Samsung Biologics Co. Ltd. (a)(c) 11,769 5,362,908 
Samsung Card Co. Ltd. 20,296 706,904 
Samsung Electro-Mechanics Co. Ltd. 39,827 4,406,937 
Samsung Electronics Co. Ltd. 69,312 171,755,136 
Samsung Fire & Marine Insurance Co. Ltd. 21,880 5,465,275 
Samsung Heavy Industries Co. Ltd. (a) 275,055 1,887,765 
Samsung Life Insurance Co. Ltd. 49,755 5,435,801 
Samsung SDI Co. Ltd. 39,122 6,703,445 
Samsung SDS Co. Ltd. 24,768 5,666,279 
Samsung Securities Co. Ltd. 47,370 1,641,036 
Shinhan Financial Group Co. Ltd. 306,663 13,618,024 
Shinsegae Co. Ltd. 5,250 2,046,712 
SillaJen, Inc. (a) 38,691 3,038,414 
SK C&C Co. Ltd. 22,514 6,180,747 
SK Energy Co. Ltd. 46,541 8,539,633 
SK Hynix, Inc. 416,822 32,888,819 
SK Networks Co. Ltd. 94,544 496,148 
SK Telecom Co. Ltd. 14,356 3,059,111 
STX Pan Ocean Co. Ltd. (Korea) (a) 151,674 778,959 
Woori Bank 336,182 5,038,374 
Woori Investment & Securities Co. Ltd. 99,746 1,452,985 
Yuhan Corp. 6,090 1,302,248 
TOTAL KOREA (SOUTH)  576,707,450 
Luxembourg - 0.0%   
PLAY Communications SA (c) 81,932 691,900 
Malaysia - 2.5%   
AirAsia Group BHD 1,071,600 1,047,400 
Alliance Bank Malaysia Bhd 763,200 842,988 
AMMB Holdings Bhd 1,178,700 1,164,744 
Astro Malaysia Holdings Bhd (c) 1,168,024 565,952 
Axiata Group Bhd 1,943,483 2,609,035 
British American Tobacco (Malaysia) Bhd 101,600 633,818 
Bumiputra-Commerce Holdings Bhd 3,342,045 6,093,830 
Dialog Group Bhd 2,210,265 1,728,055 
DiGi.com Bhd 2,225,100 2,613,074 
Felda Global Ventures Holdings Bhd (c) 1,042,200 451,275 
Gamuda Bhd 1,226,500 1,602,333 
Genting Bhd 1,647,600 3,743,597 
Genting Malaysia Bhd 2,115,940 2,756,303 
Genting Plantations Bhd 201,200 508,067 
Hap Seng Consolidated Bhd 461,300 1,148,401 
Hartalega Holdings Bhd 943,100 1,404,327 
Hong Leong Bank Bhd 463,000 2,233,328 
Hong Leong Credit Bhd 158,700 783,867 
IHH Healthcare Bhd (c) 1,478,587 2,285,518 
IJM Corp. Bhd 2,066,800 1,565,461 
IOI Corp. Bhd 1,574,900 1,914,335 
IOI Properties Group Bhd 1,181,325 469,357 
Kuala Lumpur Kepong Bhd 344,500 2,233,799 
Malayan Banking Bhd 3,070,043 8,420,718 
Malaysia Airports Holdings Bhd 594,700 1,363,145 
Maxis Bhd 1,399,500 2,073,718 
MISC Bhd 956,000 1,736,791 
Nestle (Malaysia) BHD 41,800 1,469,085 
Petronas Chemicals Group Bhd 1,711,700 3,679,274 
Petronas Dagangan Bhd 177,426 1,218,556 
Petronas Gas Bhd 490,100 2,218,620 
PPB Group Bhd 340,100 1,665,004 
Press Metal Bhd 940,100 1,147,554 
Public Bank Bhd 2,087,157 12,635,772 
RHB Capital Bhd 556,960 749,277 
RHB Capital Bhd (a)(d) 141,500 
SapuraKencana Petroleum Bhd 2,768,800 445,978 
Sime Darby Bhd 1,695,749 1,148,991 
Sime Darby Plantation Bhd 1,696,849 2,406,622 
Sime Darby Property Bhd 1,630,249 618,000 
SP Setia Bhd 1,093,979 886,248 
Telekom Malaysia Bhd 806,900 1,085,910 
Tenaga Nasional Bhd 2,423,272 9,762,706 
UMW Holdings Bhd (a) 333,600 518,197 
Westports Holdings Bhd 723,200 611,320 
YTL Corp. Bhd 3,117,896 1,146,544 
YTL Power International Bhd 1,427,430 333,498 
TOTAL MALAYSIA  97,740,392 
Malta - 0.0%   
Brait SA 261,256 902,754 
Mexico - 3.0%   
Alfa SA de CV Series A 2,158,300 2,770,861 
America Movil S.A.B. de CV Series L 24,105,947 22,311,669 
Banco Santander Mexico SA 1,296,410 1,921,527 
CEMEX S.A.B. de CV unit 10,477,786 6,554,902 
Coca-Cola FEMSA S.A.B. de CV Series L 354,769 2,303,469 
Compartamos S.A.B. de CV (b) 697,400 557,486 
El Puerto de Liverpool S.A.B. de CV Class C 133,510 890,778 
Embotelladoras Arca S.A.B. de CV 314,400 2,172,989 
Fibra Uno Administracion SA de CV 2,273,683 3,765,147 
Fomento Economico Mexicano S.A.B. de CV unit 1,396,791 13,501,829 
Gruma S.A.B. de CV Series B 153,930 1,880,127 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 254,927 2,651,768 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 148,020 2,661,931 
Grupo Bimbo S.A.B. de CV Series A 1,171,870 2,727,589 
Grupo Carso SA de CV Series A1 316,100 1,135,807 
Grupo Financiero Banorte S.A.B. de CV Series O 1,788,581 11,191,273 
Grupo Financiero Inbursa S.A.B. de CV Series O 1,643,200 2,737,781 
Grupo Lala S.A.B. de CV 439,600 562,250 
Grupo Mexico SA de CV Series B 2,736,854 9,097,945 
Grupo Televisa SA de CV 1,758,193 6,309,999 
Industrias Penoles SA de CV 99,000 2,077,925 
Infraestructura Energetica Nova S.A.B. de CV 382,900 1,685,599 
Kimberly-Clark de Mexico SA de CV Series A 1,084,027 1,967,264 
Mexichem S.A.B. de CV 746,820 2,332,858 
Promotora y Operadora de Infraestructura S.A.B. de CV 162,775 1,667,956 
Wal-Mart de Mexico SA de CV Series V 3,760,256 10,449,149 
TOTAL MEXICO  117,887,878 
Netherlands - 0.0%   
Steinhoff International Holdings NV (South Africa) 2,144,193 330,285 
Pakistan - 0.1%   
Habib Bank Ltd. 416,000 700,832 
Lucky Cement Ltd. 92,300 528,067 
MCB Bank Ltd. 292,600 528,766 
Oil & Gas Development Co. Ltd. 452,000 652,089 
United Bank Ltd. 347,100 603,979 
TOTAL PAKISTAN  3,013,733 
Peru - 0.1%   
Compania de Minas Buenaventura SA sponsored ADR (b) 135,681 2,164,112 
Philippines - 1.0%   
Aboitiz Equity Ventures, Inc. 1,437,850 1,934,795 
Aboitiz Power Corp. 1,140,555 837,289 
Alliance Global Group, Inc. (a) 2,925,600 738,005 
Ayala Corp. 176,976 3,296,965 
Ayala Land, Inc. 5,247,443 4,129,700 
Bank of the Philippine Islands (BPI) 714,588 1,448,564 
BDO Unibank, Inc. 1,398,881 3,553,605 
DMCI Holdings, Inc. 2,758,900 587,329 
Globe Telecom, Inc. 23,245 693,117 
GT Capital Holdings, Inc. 61,765 1,253,765 
International Container Terminal Services, Inc. 366,680 598,982 
JG Summit Holdings, Inc. 2,040,810 2,517,807 
Jollibee Food Corp. 309,353 1,702,676 
Manila Electric Co. 163,990 1,019,593 
Megaworld Corp. 8,064,100 700,843 
Metro Pacific Investments Corp. 10,105,000 995,374 
Metropolitan Bank & Trust Co. 566,527 929,313 
Philippine Long Distance Telephone Co. 61,680 1,728,830 
Robinsons Land Corp. 1,444,397 498,901 
Security Bank Corp. 160,750 648,303 
SM Investments Corp. 171,705 3,109,694 
SM Prime Holdings, Inc. 6,178,300 4,077,771 
Universal Robina Corp. 628,168 1,707,409 
TOTAL PHILIPPINES  38,708,630 
Poland - 1.2%   
Alior Bank SA (a) 64,316 1,301,951 
Bank Handlowy w Warszawie SA 23,054 545,175 
Bank Millennium SA (a) 427,068 1,040,338 
Bank Polska Kasa Opieki SA 111,988 3,729,902 
Bank Zachodni WBK SA 24,730 2,616,842 
BRE Bank SA 10,523 1,287,399 
CD Projekt RED SA 47,930 1,704,251 
Cyfrowy Polsat SA 159,930 1,169,225 
Dino Polska SA (a)(c) 35,087 949,689 
Grupa Lotos SA 65,795 1,037,019 
Jastrzebska Spolka Weglowa SA (a) 37,620 887,698 
KGHM Polska Miedz SA (Bearer) 99,624 2,657,889 
LPP SA 923 2,411,473 
NG2 SA 20,520 1,514,219 
Polish Oil & Gas Co. SA 1,234,334 2,173,365 
Polska Grupa Energetyczna SA (a) 599,261 1,787,616 
Polski Koncern Naftowy Orlen SA 214,939 5,493,120 
Powszechna Kasa Oszczednosci Bank SA (a) 673,368 8,027,043 
Powszechny Zaklad Ubezpieczen SA 430,114 5,259,624 
Tauron Polska Energia SA (a) 749,464 501,799 
Telekomunikacja Polska SA (a) 468,533 703,497 
Zaklady Azotowe w Tarnowie-Moscicach SA 33,151 505,315 
TOTAL POLAND  47,304,449 
Qatar - 0.6%   
Barwa Real Estate Co. 69,740 677,097 
Doha Bank 107,944 803,132 
Ezdan Holding Group (a) 560,021 1,724,206 
Industries Qatar QSC (a) 107,814 3,316,443 
Masraf al Rayan 261,535 2,555,731 
Qatar Electricity & Water Co. 19,689 1,070,701 
Qatar Gas Transport Co. Ltd. (Nakilat) 193,437 780,442 
Qatar Insurance Co. SAQ 111,201 1,114,148 
Qatar Islamic Bank 42,049 1,235,832 
Qatar National Bank SAQ 166,240 6,894,326 
Qatar Telecom (Qtel) Q.S.C. (a) 57,135 1,242,816 
The Commercial Bank of Qatar 141,114 1,401,063 
TOTAL QATAR  22,815,937 
Russia - 3.2%   
Alrosa Co. Ltd. 1,826,801 2,599,542 
Gazprom OAO 4,040,776 9,363,936 
Gazprom OAO sponsored ADR (Reg. S) 1,799,956 8,330,196 
Inter Rao Ues JSC 22,113,158 1,404,623 
Lukoil PJSC 176,005 11,627,339 
Lukoil PJSC sponsored ADR 128,658 8,594,354 
Magnit OJSC GDR (Reg. S) 253,526 4,814,459 
Magnitogorsk Iron & Steel Works PJSC 1,574,100 1,216,836 
MMC Norilsk Nickel PJSC 24,186 4,131,233 
MMC Norilsk Nickel PJSC sponsored ADR (b) 212,418 3,652,528 
Mobile TeleSystems OJSC sponsored ADR 355,179 3,729,380 
Moscow Exchange MICEX-RTS OAO 1,045,767 2,005,262 
NOVATEK OAO GDR (Reg. S) 65,447 8,311,769 
Novolipetsk Steel OJSC 849,446 2,173,913 
PhosAgro OJSC GDR (Reg. S) 81,526 1,175,605 
Polyus PJSC 18,932 1,201,053 
Rosneft Oil Co. OJSC 447,571 2,722,136 
Rosneft Oil Co. OJSC GDR (Reg. S) 388,106 2,365,118 
RusHydro PJSC 29,877,753 353,471 
RusHydro PJSC ADR 466,556 530,008 
Sberbank of Russia 7,722,325 27,526,190 
Severstal PAO 78,709 1,264,769 
Severstal PAO GDR (Reg. S) 73,598 1,175,360 
Surgutneftegas OJSC 4,591,662 2,146,628 
Surgutneftegas OJSC sponsored ADR 49,000 230,202 
Tatneft PAO 631,866 6,733,315 
Tatneft PAO sponsored ADR 76,366 4,925,607 
VTB Bank OJSC (a) 3,674,199,994 3,148,939 
TOTAL RUSSIA  127,453,771 
South Africa - 6.5%   
Anglo American Platinum Ltd. 38,353 1,029,209 
AngloGold Ashanti Ltd. 291,497 2,605,593 
Aspen Pharmacare Holdings Ltd. 279,467 6,025,774 
Barclays Africa Group Ltd. 517,795 7,584,285 
Bidcorp Ltd. 241,593 5,553,796 
Bidvest Group Ltd. 239,283 4,687,353 
Capitec Bank Holdings Ltd. 28,767 2,048,038 
Coronation Fund Managers Ltd. 161,441 958,696 
Discovery Ltd. 252,949 3,512,163 
Exxaro Resources Ltd. 178,532 1,583,574 
FirstRand Ltd. 2,413,613 12,926,169 
Fortress (REIT) Ltd.:   
Class A 758,765 1,044,230 
Class B 578,955 806,840 
Foschini Ltd. 159,965 2,752,274 
Gold Fields Ltd. 584,247 2,218,123 
Growthpoint Properties Ltd. 2,114,642 4,892,279 
Hyprop Investments Ltd. 177,038 1,616,282 
Imperial Holdings Ltd. 107,268 2,063,418 
Investec Ltd. 198,419 1,565,196 
Kumba Iron Ore Ltd. 45,824 978,913 
Liberty Holdings Ltd. 91,410 963,140 
Life Healthcare Group Holdings Ltd. 946,385 2,230,897 
MMI Holdings Ltd. 671,336 1,195,100 
Mondi Ltd. 84,075 2,452,876 
Mr Price Group Ltd. 173,192 3,800,501 
MTN Group Ltd. 1,217,826 12,222,956 
Naspers Ltd. Class N 313,809 76,450,011 
Nedbank Group Ltd. 159,284 3,798,607 
Netcare Ltd. 730,072 1,817,943 
Pick 'n Pay Stores Ltd. 260,904 1,689,019 
Pioneer Foods Ltd. 91,203 886,992 
PSG Group Ltd. 106,989 1,924,992 
Rand Merchant Insurance Holdings Ltd. 484,971 1,606,102 
Redefine Properties Ltd. 3,621,378 3,480,195 
Remgro Ltd. 383,975 6,912,942 
Resilient Property Income Fund Ltd. 211,579 1,151,206 
RMB Holdings Ltd. 502,079 3,149,175 
Sanlam Ltd. 1,012,475 6,395,825 
Sappi Ltd. 396,250 2,528,738 
Sasol Ltd. 397,792 14,220,016 
Shoprite Holdings Ltd. 320,115 6,368,950 
Sibanye-Stillwater 1,282,335 1,124,043 
Spar Group Ltd. 137,097 2,304,714 
Standard Bank Group Ltd. 928,684 15,927,488 
Telkom SA Ltd. 187,568 856,595 
Tiger Brands Ltd. 116,115 3,628,988 
Truworths International Ltd. 314,354 2,570,027 
Vodacom Group Ltd. 428,919 5,362,307 
Woolworths Holdings Ltd. 708,166 3,639,360 
TOTAL SOUTH AFRICA  257,111,910 
Taiwan - 10.9%   
Acer, Inc. 2,078,000 1,581,964 
Advantech Co. Ltd. 247,993 1,699,456 
ASE Industrial Holding Co. Ltd. 2,482,592 6,685,652 
Asia Cement Corp. 1,675,000 1,784,355 
Asia Pacific Telecom Co. Ltd. (a) 1,502,000 444,598 
ASUSTeK Computer, Inc. 502,502 4,687,878 
AU Optronics Corp. 6,156,000 2,533,967 
Catcher Technology Co. Ltd. 466,095 5,159,920 
Cathay Financial Holding Co. Ltd. 5,861,033 10,494,643 
Chang Hwa Commercial Bank 3,463,031 1,989,921 
Cheng Shin Rubber Industry Co. Ltd. 1,382,000 2,224,494 
Chicony Electronics Co. Ltd. 383,969 944,318 
China Airlines Ltd. (a) 1,904,000 693,305 
China Development Finance Holding Corp. 9,572,000 3,612,744 
China Life Insurance Co. Ltd. 1,749,937 1,892,600 
China Steel Corp. 9,082,289 7,174,148 
Chinatrust Financial Holding Co. Ltd. 12,639,778 8,998,257 
Chunghwa Telecom Co. Ltd. 2,731,129 10,373,726 
Compal Electronics, Inc. 2,987,000 1,942,144 
Delta Electronics, Inc. 1,385,717 5,015,032 
E.SUN Financial Holdings Co. Ltd. 6,507,661 4,593,767 
ECLAT Textile Co. Ltd. 127,129 1,531,025 
EVA Airways Corp. 1,416,970 759,551 
Evergreen Marine Corp. (Taiwan) (a) 1,391,855 702,765 
Far Eastern Textile Ltd. 2,287,000 2,178,942 
Far EasTone Telecommunications Co. Ltd. 1,140,348 3,011,706 
Feng Tay Enterprise Co. Ltd. 237,720 1,076,055 
First Financial Holding Co. Ltd. 6,506,506 4,465,348 
Formosa Chemicals & Fibre Corp. 2,102,149 7,709,931 
Formosa Petrochemical Corp. 949,347 3,866,802 
Formosa Plastics Corp. 2,968,085 10,397,278 
Formosa Taffeta Co. Ltd. 636,000 717,832 
Foxconn Technology Co. Ltd. 653,710 1,620,212 
Fubon Financial Holding Co. Ltd. 4,788,846 8,178,521 
Giant Manufacturing Co. Ltd. 221,000 1,120,413 
GlobalWafers Co. Ltd. 156,000 2,512,219 
Highwealth Construction Corp. 582,000 894,451 
HIWIN Technologies Corp. 149,442 2,247,195 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 11,167,082 31,004,906 
Hotai Motor Co. Ltd. 194,000 1,898,191 
HTC Corp. (a) 466,000 943,089 
Hua Nan Financial Holdings Co. Ltd. 5,093,365 3,074,671 
Innolux Corp. 6,364,000 2,364,017 
Inventec Corp. 1,786,000 1,350,754 
Largan Precision Co. Ltd. 71,451 8,295,621 
Lite-On Technology Corp. 1,505,044 1,982,557 
Macronix International Co. Ltd. (a) 1,284,000 2,036,145 
MediaTek, Inc. 1,076,615 12,223,304 
Mega Financial Holding Co. Ltd. 7,885,289 6,948,862 
Micro-Star International Co. Ltd. 481,000 1,499,577 
Nan Ya Plastics Corp. 3,419,358 9,348,986 
Nanya Technology Corp. 738,000 2,293,237 
Nien Made Enterprise Co. Ltd. 104,000 922,148 
Novatek Microelectronics Corp. 411,000 1,722,129 
Pegatron Corp. 1,395,000 3,246,644 
Phison Electronics Corp. 105,000 948,864 
Pou Chen Corp. 1,572,391 1,962,909 
Powertech Technology, Inc. 498,981 1,425,867 
President Chain Store Corp. 417,000 4,091,628 
Quanta Computer, Inc. 1,924,000 3,491,870 
Realtek Semiconductor Corp. 324,000 1,223,101 
Ruentex Development Co. Ltd. 712,000 851,059 
Ruentex Industries Ltd. 401,000 775,602 
Shin Kong Financial Holding Co. Ltd. 5,817,000 2,359,970 
Sinopac Holdings Co. 7,448,826 2,675,829 
Standard Foods Corp. 423,016 947,013 
Synnex Technology International Corp. 1,008,700 1,446,130 
TaiMed Biologics, Inc. (a) 125,000 1,296,960 
Taishin Financial Holdings Co. Ltd. 6,735,140 3,266,947 
Taiwan Business Bank 2,585,701 793,198 
Taiwan Cement Corp. 2,571,319 3,527,313 
Taiwan Cooperative Financial Holding Co. Ltd. 5,626,543 3,263,579 
Taiwan High Speed Rail Corp. 1,176,000 901,685 
Taiwan Mobile Co. Ltd. 1,147,000 4,228,261 
Taiwan Semiconductor Manufacturing Co. Ltd. 17,620,740 133,985,460 
TECO Electric & Machinery Co. Ltd. 1,349,705 1,093,565 
Unified-President Enterprises Corp. 3,477,332 8,353,952 
United Microelectronics Corp. 8,533,000 4,593,459 
Vanguard International Semiconductor Corp. 641,000 1,297,014 
Win Semiconductors Corp. 243,000 1,818,857 
Winbond Electronics Corp. 2,121,000 1,295,860 
Wistron Corp. 1,854,327 1,471,955 
WPG Holding Co. Ltd. 1,167,000 1,567,580 
Yageo Corp. 150,000 3,138,577 
Yuanta Financial Holding Co. Ltd. 7,187,284 3,424,073 
TOTAL TAIWAN  430,190,110 
Thailand - 2.4%   
Advanced Info Service PCL 5,500 36,202 
Advanced Info Service PCL (For. Reg.) 726,000 4,778,605 
Airports of Thailand PCL 30,000 67,481 
Airports of Thailand PCL (For. Reg.) 3,002,900 6,754,642 
Bangkok Bank PCL (For. Reg.) 179,800 1,145,412 
Bangkok Dusit Medical Services PCL (For. Reg.) 2,790,900 1,987,469 
Bangkok Expressway and Metro PCL 5,423,300 1,328,646 
Banpu PCL (For. Reg.) 1,572,900 960,069 
Berli Jucker PCL (For. Reg) 860,800 1,624,606 
BTS Group Holdings PCL 4,108,100 1,157,646 
Bumrungrad Hospital PCL 21,700 130,242 
Bumrungrad Hospital PCL (For. Reg.) 230,800 1,385,250 
C.P. ALL PCL 43,000 118,272 
C.P. ALL PCL (For. Reg.) 3,471,300 9,547,811 
Central Pattana PCL (For. Reg.) 950,300 2,424,278 
Charoen Pokphand Foods PCL (For. Reg.) 2,189,400 1,689,259 
Delta Electronics PCL (For. Reg.) 355,700 756,880 
Electricity Generating PCL (For. Reg.) 91,100 642,114 
Energy Absolute PCL 829,200 937,346 
Glow Energy PCL (For. Reg.) 359,800 979,781 
Home Product Center PCL (For. Reg.) 2,802,600 1,325,552 
Indorama Ventures PCL (For. Reg.) 1,229,000 2,331,928 
IRPC PCL 266,900 59,375 
IRPC PCL (For. Reg.) 6,747,600 1,501,082 
Kasikornbank PCL 125,500 795,428 
Kasikornbank PCL (For. Reg.) 1,229,300 7,791,387 
KCE Electronics PCL 190,500 412,190 
Krung Thai Bank PCL (For. Reg.) 2,501,200 1,436,333 
Minor International PCL (For. Reg.) 1,624,900 2,063,532 
PTT Exploration and Production PCL (For. Reg.) 985,900 4,176,665 
PTT Global Chemical PCL 16,700 51,597 
PTT Global Chemical PCL (For. Reg.) 1,577,900 4,875,126 
PTT PCL (For. Reg.) 7,525,000 13,386,491 
Robinsons Department Store PCL (For. Reg.) 362,500 753,416 
Siam Cement PCL (For. Reg.) 293,700 4,342,990 
Siam Commercial Bank PCL (For. Reg.) 1,390,900 5,759,462 
Thai Oil PCL 44,900 133,622 
Thai Oil PCL (For. Reg.) 746,100 2,220,394 
Thai Union Frozen Products PCL (For. Reg.) 1,369,600 778,840 
TMB PCL (For. Reg.) 8,252,900 614,629 
True Corp. PCL (For. Reg.) 7,128,237 1,714,268 
TOTAL THAILAND  94,976,318 
Turkey - 0.9%   
Akbank T.A.S. 1,560,467 3,249,933 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 147,302 966,034 
Arcelik A/S 167,688 746,362 
Aselsan A/S 142,191 882,109 
Bim Birlesik Magazalar A/S JSC 151,216 2,566,737 
Coca-Cola Icecek Sanayi A/S 54,105 478,702 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 1,344,866 804,516 
Eregli Demir ve Celik Fabrikalari T.A.S. 995,647 2,490,282 
Ford Otomotiv Sanayi A/S 49,924 690,094 
Haci Omer Sabanci Holding A/S 651,136 1,542,042 
Koc Holding A/S 540,311 1,824,935 
Petkim Petrokimya Holding A/S 476,430 842,118 
TAV Havalimanlari Holding A/S 116,514 624,720 
Tofas Turk Otomobil Fabrikasi A/S 88,680 546,213 
Tupras Turkiye Petrol Rafinerileri A/S 89,013 2,268,001 
Turk Hava Yollari AO (a) 392,104 1,612,973 
Turk Sise ve Cam Fabrikalari A/S 558,556 620,144 
Turk Telekomunikasyon (a) 376,380 581,883 
Turkcell Iletisim Hizmet A/S 782,751 2,690,038 
Turkiye Garanti Bankasi A/S 1,638,485 3,714,937 
Turkiye Halk Bankasi A/S 442,234 900,341 
Turkiye Is Bankasi A/S Series C 1,116,064 1,692,463 
Turkiye Vakiflar Bankasi TAO 592,355 870,574 
Ulker Biskuvi Sanayi A/S 109,188 572,537 
Yapi ve Kredi Bankasi A/S (a) 609,627 597,306 
TOTAL TURKEY  34,375,994 
United Arab Emirates - 0.6%   
Abu Dhabi Commercial Bank PJSC 1,453,158 2,781,183 
Aldar Properties PJSC 2,264,081 1,294,412 
Damac Properties Dubai Co. PJSC (a) 1,301,361 981,384 
DP World Ltd. 118,589 2,638,605 
Dubai Investments Ltd. 1,071,908 554,463 
Dubai Islamic Bank Pakistan Ltd. 886,342 1,327,166 
Dubai Parks and Resorts PJSC (a) 2,294,569 241,129 
Emaar Malls Group PJSC (a) 1,361,120 822,642 
Emaar Properties PJSC 2,502,072 3,944,025 
Emirates Telecommunications Corp. 1,253,844 5,854,219 
National Bank of Abu Dhabi PJSC 1,011,845 3,415,836 
TOTAL UNITED ARAB EMIRATES  23,855,064 
United Kingdom - 0.0%   
Mediclinic International PLC 
United States of America - 0.4%   
Southern Copper Corp. 60,652 3,203,032 
Yum China Holdings, Inc. 275,996 11,801,589 
TOTAL UNITED STATES OF AMERICA  15,004,621 
TOTAL COMMON STOCKS   
(Cost $2,968,249,010)  3,746,403,637 
Nonconvertible Preferred Stocks - 3.9%   
Brazil - 2.7%   
Ambev SA sponsored ADR 151,738 1,004,506 
Banco Bradesco SA:   
(PN) 2,278,850 22,487,967 
(PN) sponsored ADR 154,919 1,518,206 
Braskem SA (PN-A) 122,800 1,600,200 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 161,200 1,049,144 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 112,800 2,535,038 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 690,629 1,667,824 
Gerdau SA 733,700 3,487,127 
Itau Unibanco Holding SA 2,219,714 32,321,195 
Itau Unibanco Holding SA sponsored ADR 87,744 1,274,920 
Itausa-Investimentos Itau SA (PN) 2,877,497 11,179,132 
Lojas Americanas SA (PN) 526,832 3,000,199 
Petroleo Brasileiro SA - Petrobras:   
(PN) (non-vtg.) (a) 2,699,800 17,702,217 
sponsored ADR (a) 109,322 1,540,347 
Telefonica Brasil SA 319,025 4,475,020 
TOTAL BRAZIL  106,843,042 
Chile - 0.1%   
Embotelladora Andina SA Class B 186,289 926,312 
Sociedad Quimica y Minera de Chile SA (PN-B) 68,493 3,741,007 
TOTAL CHILE  4,667,319 
Colombia - 0.2%   
Bancolombia SA (PN) 317,049 3,758,598 
Grupo Aval Acciones y Valores SA 2,536,109 1,115,039 
Grupo de Inversiones Suramerica SA (a) 80,603 1,047,368 
TOTAL COLOMBIA  5,921,005 
Korea (South) - 0.8%   
AMOREPACIFIC Corp. 6,810 1,135,079 
Hyundai Motor Co. 19,827 1,906,932 
Hyundai Motor Co. Series 2 25,014 2,686,098 
LG Chemical Ltd. 7,246 1,393,819 
LG Household & Health Care Ltd. 1,536 1,104,391 
Samsung Electronics Co. Ltd. 12,338 24,355,212 
TOTAL KOREA (SOUTH)  32,581,531 
Russia - 0.1%   
AK Transneft OAO 325 890,012 
Surgutneftegas OJSC 5,039,922 2,480,243 
TOTAL RUSSIA  3,370,255 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $109,531,652)  153,383,152 
 Principal Amount Value 
Government Obligations - 0.1%   
United States of America - 0.1%   
U.S. Treasury Bills, yield at date of purchase 1.18% 6/21/18 (e)
(Cost $3,993,370) 
4,000,000 3,990,452 
 Shares Value 
Money Market Funds - 4.2%   
Fidelity Cash Central Fund, 1.74% (f) 20,286,586 20,290,643 
Fidelity Securities Lending Cash Central Fund 1.74% (f)(g) 143,103,241 143,117,551 
TOTAL MONEY MARKET FUNDS   
(Cost $163,408,194)  163,408,194 
TOTAL INVESTMENT IN SECURITIES - 103.5%   
(Cost $3,245,182,226)  4,067,185,435 
NET OTHER ASSETS (LIABILITIES) - (3.5)%  (137,679,741) 
NET ASSETS - 100%  $3,929,505,694 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 502 June 2018 $28,920,220 $(177,853) $(177,853) 

The notional amount of futures purchased as a percentage of Net Assets is 0.7%

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $21,964,025 or 0.6% of net assets.

 (d) Level 3 security

 (e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,245,021.

 (f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (g) Investment made with cash collateral received from securities on loan.


Affiliated Central Funds

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 $305,146 
Fidelity Securities Lending Cash Central Fund 223,694 
Total $528,840 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $370,263,014 $162,258,044 $208,004,970 $-- 
Consumer Staples 256,939,347 126,608,673 130,269,081 61,593 
Energy 286,159,057 131,441,280 154,717,777 -- 
Financials 929,325,621 281,859,353 647,466,268 -- 
Health Care 106,421,521 37,682,964 68,738,557 -- 
Industrials 206,650,439 91,322,771 113,471,408 1,856,260 
Information Technology 1,064,768,793 513,328,059 550,364,666 1,076,068 
Materials 295,355,283 135,247,189 160,108,094 -- 
Real Estate 111,733,256 16,999,322 94,733,934 -- 
Telecommunication Services 180,992,416 50,504,254 130,488,162 -- 
Utilities 91,178,042 32,549,778 58,628,264 -- 
Government Obligations 3,990,452 -- 3,990,452 -- 
Money Market Funds 163,408,194 163,408,194 -- -- 
Total Investments in Securities: $4,067,185,435 $1,743,209,881 $2,320,981,633 $2,993,921 
Derivative Instruments:     
Liabilities     
Futures Contracts $(177,853) $(177,853) $-- $-- 
Total Liabilities $(177,853) $(177,853) $-- $-- 
Total Derivative Instruments: $(177,853) $(177,853) $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $1,327,296,340 
Level 2 to Level 1 $1,065,811 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $0 $(177,853) 
Total Equity Risk (177,853) 
Total Value of Derivatives $0 $(177,853) 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $139,904,562) — See accompanying schedule:
Unaffiliated issuers (cost $3,081,774,032) 
$3,903,777,241  
Fidelity Central Funds (cost $163,408,194) 163,408,194  
Total Investment in Securities (cost $3,245,182,226)  $4,067,185,435 
Cash  319,939 
Foreign currency held at value (cost $7,182,095)  7,158,200 
Receivable for investments sold  2,492,716 
Receivable for fund shares sold  3,639,830 
Dividends receivable  3,439,391 
Distributions receivable from Fidelity Central Funds  142,906 
Receivable from investment adviser for expense reductions  271,097 
Other receivables  12,341 
Total assets  4,084,661,855 
Liabilities   
Payable for investments purchased $5,421,412  
Payable for fund shares redeemed 1,821,108  
Accrued management fee 287,422  
Payable for daily variation margin on futures contracts 228,815  
Other affiliated payables 239,519  
Other payables and accrued expenses 4,023,617  
Collateral on securities loaned 143,134,268  
Total liabilities  155,156,161 
Net Assets  $3,929,505,694 
Net Assets consist of:   
Paid in capital  $3,108,853,072 
Undistributed net investment income  15,414,149 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (12,500,536) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  817,739,009 
Net Assets, for 261,172,181 shares outstanding  $3,929,505,694 
Net Asset Value, offering price and redemption price per share ($3,929,505,694 ÷ 261,172,181 shares)  $15.05 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $30,563,374 
Interest  35,283 
Income from Fidelity Central Funds  528,840 
Income before foreign taxes withheld  31,127,497 
Less foreign taxes withheld  (3,270,861) 
Total income  27,856,636 
Expenses   
Management fee $1,617,784  
Transfer agent fees 1,348,153  
Independent trustees' fees and expenses 6,853  
Interest 748  
Miscellaneous 4,924  
Total expenses before reductions 2,978,462  
Expense reductions (1,538,018) 1,440,444 
Net investment income (loss)  26,416,192 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $7,806) (2,303,584)  
Fidelity Central Funds (10,930)  
Foreign currency transactions (330,342)  
Futures contracts 1,430,378  
Total net realized gain (loss)  (1,214,478) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of decrease in deferred foreign taxes of $1,113,496) 112,186,900  
Fidelity Central Funds 3,394  
Assets and liabilities in foreign currencies (51,816)  
Futures contracts (1,485,330)  
Total change in net unrealized appreciation (depreciation)  110,653,148 
Net gain (loss)  109,438,670 
Net increase (decrease) in net assets resulting from operations  $135,854,862 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $26,416,192 $60,343,042 
Net realized gain (loss) (1,214,478) 13,280,507 
Change in net unrealized appreciation (depreciation) 110,653,148 567,282,471 
Net increase (decrease) in net assets resulting from operations 135,854,862 640,906,020 
Distributions to shareholders from net investment income (62,458,085) (21,738,060) 
Distributions to shareholders from net realized gain (19,904,207) (13,912,294) 
Total distributions (82,362,292) (35,650,354) 
Share transactions   
Proceeds from sales of shares 887,984,237 1,686,887,038 
Reinvestment of distributions 65,006,032 31,640,372 
Cost of shares redeemed (286,706,070) (575,440,489) 
Net increase (decrease) in net assets resulting from share transactions 666,284,199 1,143,086,921 
Total increase (decrease) in net assets 719,776,769 1,748,342,587 
Net Assets   
Beginning of period 3,209,728,925 1,461,386,338 
End of period $3,929,505,694 $3,209,728,925 
Other Information   
Undistributed net investment income end of period $15,414,149 $51,456,042 
Shares   
Sold 58,398,786 137,839,100 
Issued in reinvestment of distributions 4,495,578 2,853,058 
Redeemed (18,643,171) (46,213,230) 
Net increase (decrease) 44,251,193 94,478,928 

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


Financial Highlights

Fidelity SAI Emerging Markets Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $14.80 $11.94 $10.00 
Income from Investment Operations    
Net investment income (loss)B .11 .31 .25 
Net realized and unrealized gain (loss) .50 2.76 1.69 
Total from investment operations .61 3.07 1.94 
Distributions from net investment income (.27) (.13) – 
Distributions from net realized gain (.09) (.08) – 
Total distributions (.36) (.21) – 
Net asset value, end of period $15.05 $14.80 $11.94 
Total ReturnC,D 4.22% 26.24% 19.40% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .17%G .17% .33%G 
Expenses net of fee waivers, if any .08%G .09% .11%G 
Expenses net of all reductions .08%G .09% .11%G 
Net investment income (loss) 1.47%G 2.36% 2.67%G 
Supplemental Data    
Net assets, end of period (000 omitted) $3,929,506 $3,209,729 $1,461,386 
Portfolio turnover rateH 2%G 2% 16%G 

 A For the period January 5, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

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

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

 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 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.

 G Annualized

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


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity SAI Emerging Markets Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

2. Investments in Fidelity Central Funds.

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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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 April 30, 2018, including information on transfers between Levels 1 and 2, 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.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

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. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

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

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $949,413,077 
Gross unrealized depreciation (131,500,815) 
Net unrealized appreciation (depreciation) $817,912,262 
Tax cost $3,249,095,320 

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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

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

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $694,654,635 and $34,132,452, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. 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 .09% of the Fund's average net assets. Under the expense contract, total expenses of the Fund are limited to an annual rate of .165% of the Fund's average net assets, with certain exceptions.

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.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of the investment adviser, is the Fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC receives an asset-based fee of .075% of the Fund's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company (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 $4,190,750 1.61% $748 

Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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 $4,924 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

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. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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 $223,694.

9. Expense Reductions.

The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .08% of average net assets. This reimbursement will remain in place through December 31, 2018. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $1,528,464.

In addition, through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's expenses by $9,554.

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.

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 (November 1, 2017 to April 30, 2018).

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.

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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Actual .08% $1,000.00 $1,042.20 $.41 
Hypothetical-C  $1,000.00 $1,024.40 $.40 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

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Fidelity Flex℠ Funds

Fidelity Flex℠ International Index Fund



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


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.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 1.3 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 1.1 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.1 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 0.9 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.9 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 0.9 
Novartis AG (Switzerland, Pharmaceuticals) 0.8 
Toyota Motor Corp. (Japan, Automobiles) 0.8 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.7 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
 9.2 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 24.1 
Industrials 10.1 
Information Technology 11.4 
Consumer Discretionary 11.0 
Consumer Staples 8.8 
Materials 7.9 
Health Care 7.5 
Energy 7.1 
Telecommunication Services 4.1 
Real Estate 3.1 

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 16.3% 
   United Kingdom 11.1% 
   France 7.0% 
   Germany 6.5% 
   Canada 6.2% 
   Switzerland 5.1% 
   Cayman Islands 4.4% 
   Australia 4.4% 
   Korea (South) 3.8% 
   Other* 35.2% 


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


Percentages are based on country or territory of incorporation and include the effect of futures contracts, as applicable.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.4%   
 Shares Value 
Australia - 4.4%   
AGL Energy Ltd. 5,738 $93,515 
Alumina Ltd. 21,159 41,649 
Amcor Ltd. 11,308 116,529 
AMP Ltd. 29,646 89,743 
APA Group unit 10,390 65,044 
Aristocrat Leisure Ltd. 4,739 95,067 
ASX Ltd. 1,637 71,967 
Aurizon Holdings Ltd. 18,066 60,796 
Australia & New Zealand Banking Group Ltd. 26,389 530,477 
Bank of Queensland Ltd. 3,617 27,252 
Bendigo & Adelaide Bank Ltd. 4,193 33,373 
BHP Billiton Ltd. 29,388 685,600 
BlueScope Steel Ltd. 5,006 61,521 
Boral Ltd. 9,767 50,264 
Brambles Ltd. 15,601 115,435 
Caltex Australia Ltd. 2,176 50,602 
Challenger Ltd. 4,873 39,398 
Cimic Group Ltd. 916 31,170 
Coca-Cola Amatil Ltd. 4,755 33,190 
Cochlear Ltd. 498 72,474 
Commonwealth Bank of Australia 15,821 851,873 
Computershare Ltd. 4,012 51,039 
Crown Ltd. 3,338 32,398 
CSL Ltd. 4,204 538,486 
DEXUS Property Group unit 11,344 80,673 
Dominos Pizza Enterprises Ltd. 470 14,879 
Flight Centre Travel Group Ltd. 441 18,474 
Fortescue Metals Group Ltd. 13,227 44,877 
Goodman Group unit 18,289 124,430 
Harvey Norman Holdings Ltd. 4,306 11,351 
Healthscope Ltd. 16,278 29,657 
Incitec Pivot Ltd. 14,469 41,175 
Insurance Australia Group Ltd. 23,104 136,774 
Lendlease Group unit 4,705 63,100 
Macquarie Group Ltd. 2,991 243,582 
Medibank Private Ltd. 24,227 53,245 
Mirvac Group unit 32,132 53,923 
National Australia Bank Ltd. 24,352 529,389 
Newcrest Mining Ltd. 7,469 118,383 
Orica Ltd. 3,193 47,573 
Origin Energy Ltd. (a) 15,114 110,344 
QBE Insurance Group Ltd. 11,781 87,987 
Ramsay Health Care Ltd. 1,545 75,111 
realestate.com.au Ltd. 460 27,849 
Rio Tinto Ltd. 3,854 229,368 
Santos Ltd. (a) 15,939 73,412 
Scentre Group unit 51,284 155,007 
SEEK Ltd. 2,858 41,572 
Sonic Healthcare Ltd. 4,367 77,428 
South32 Ltd. 49,506 137,380 
SP AusNet 17,284 22,312 
Stockland Corp. Ltd. unit 21,664 67,341 
Suncorp Group Ltd. 11,278 118,619 
Sydney Airport unit 9,333 49,970 
Tabcorp Holdings Ltd. 16,763 55,123 
Telstra Corp. Ltd. 35,766 85,038 
The GPT Group unit 15,589 56,527 
TPG Telecom Ltd. 2,820 11,829 
Transurban Group unit 21,121 184,042 
Treasury Wine Estates Ltd. 6,192 88,447 
Vicinity Centers unit 28,162 51,564 
Wesfarmers Ltd. 10,437 343,373 
Westfield Corp. unit (a) 17,468 120,707 
Westpac Banking Corp. 30,574 656,744 
Woodside Petroleum Ltd. 8,837 214,152 
Woolworths Group Ltd. 12,168 254,503 
TOTAL AUSTRALIA  8,846,096 
Austria - 0.2%   
Andritz AG 631 33,955 
Erste Group Bank AG 2,643 129,582 
OMV AG 1,295 80,538 
Raiffeisen International Bank-Holding AG 1,270 42,942 
Voestalpine AG 1,010 53,312 
TOTAL AUSTRIA  340,329 
Bailiwick of Jersey - 0.8%   
Experian PLC 8,905 204,033 
Glencore Xstrata PLC 112,084 541,151 
Randgold Resources Ltd. 842 68,272 
Shire PLC 8,340 444,104 
Wolseley PLC 2,385 183,215 
WPP PLC 12,006 206,025 
TOTAL BAILIWICK OF JERSEY  1,646,800 
Belgium - 0.7%   
Ageas 1,895 101,719 
Anheuser-Busch InBev SA NV 6,938 693,055 
Colruyt NV 528 29,764 
Groupe Bruxelles Lambert SA 677 77,634 
KBC Groep NV 2,340 204,587 
Proximus 1,381 42,410 
Solvay SA Class A 643 89,762 
Telenet Group Holding NV (a) 453 26,564 
UCB SA 1,333 101,027 
Umicore SA 1,816 101,448 
TOTAL BELGIUM  1,467,970 
Bermuda - 0.4%   
Alibaba Health Information Technology Ltd. (a) 26,000 13,075 
Alibaba Pictures Group Ltd. (a) 100,000 11,265 
Beijing Enterprises Water Group Ltd. 48,000 27,868 
Brilliance China Automotive Holdings Ltd. 26,000 46,293 
Cheung Kong Infrastructure Holdings Ltd. 6,000 47,354 
China Gas Holdings Ltd. 15,000 53,155 
China Resource Gas Group Ltd. 8,000 29,421 
Cosco Shipping Ports Ltd. 12,000 10,554 
Credicorp Ltd. (United States) 667 155,071 
GOME Electrical Appliances Holdings Ltd. 82,000 8,820 
Haier Electronics Group Co. Ltd. 11,000 38,058 
Hongkong Land Holdings Ltd. 11,900 86,004 
Jardine Matheson Holdings Ltd. 1,956 118,443 
Jardine Strategic Holdings Ltd. 1,862 70,468 
Kerry Properties Ltd. 5,000 23,903 
Kingston Financial Group Ltd. 32,000 16,268 
Kunlun Energy Co. Ltd. 26,000 22,262 
Li & Fung Ltd. 54,000 27,158 
Nine Dragons Paper (Holdings) Ltd. 15,000 22,372 
NWS Holdings Ltd. 13,000 25,634 
Shangri-La Asia Ltd. 10,000 19,461 
Sihuan Pharmaceutical Holdings Group Ltd. 30,000 7,251 
Yue Yuen Industrial (Holdings) Ltd. 6,500 18,421 
TOTAL BERMUDA  898,579 
Brazil - 1.1%   
Ambev SA 44,400 295,687 
Atacadao Distribuicao Comercio e Industria Ltda 3,100 13,362 
Banco Bradesco SA 9,431 85,878 
Banco do Brasil SA 9,000 94,285 
Banco Santander SA (Brasil) unit 3,600 39,163 
BB Seguridade Participacoes SA 6,200 48,634 
BM&F BOVESPA SA 18,000 129,995 
BR Malls Participacoes SA 8,300 25,872 
Brasil Foods SA (a) 3,600 25,485 
CCR SA 11,000 37,554 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 2,000 10,887 
Cielo SA 10,440 57,219 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 2,800 28,102 
Companhia Siderurgica Nacional SA (CSN) (a) 4,800 12,030 
Cosan SA Industria e Comercio 1,300 14,762 
Drogasil SA 2,000 39,267 
EDP Energias do Brasil SA 2,500 9,912 
Embraer SA 5,600 35,392 
ENGIE Brasil Energia SA 1,300 13,727 
Equatorial Energia SA 1,900 38,589 
Fibria Celulose SA 2,000 39,284 
Hypermarcas SA 3,000 26,975 
Itausa-Investimentos Itau SA 52 200 
JBS SA 7,400 18,483 
Klabin SA unit 5,200 31,513 
Kroton Educacional SA 12,700 50,790 
Localiza Rent A Car SA 4,300 34,234 
Lojas Renner SA 6,300 58,644 
M. Dias Branco SA 800 10,048 
Multiplan Empreendimentos Imobiliarios SA 700 13,292 
Natura Cosmeticos SA 1,300 11,953 
Odontoprev SA 2,100 9,010 
Petroleo Brasileiro SA - Petrobras (ON) (a) 29,200 205,297 
Porto Seguro SA 900 11,612 
Qualicorp SA 1,800 12,511 
Rumo SA (a) 9,000 38,151 
Sul America SA unit 1,600 9,874 
Suzano Papel e Celulose SA 3,800 44,539 
Terna Participacoes SA unit 1,700 10,331 
TIM Participacoes SA 7,500 34,147 
Ultrapar Participacoes SA 3,100 53,493 
Vale SA 29,373 408,079 
Weg SA 5,980 30,351 
TOTAL BRAZIL  2,218,613 
British Virgin Islands - 0.0%   
First Pacific Co. Ltd. 16,000 8,193 
Canada - 6.1%   
Agnico Eagle Mines Ltd. (Canada) 2,028 85,340 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 4,159 179,809 
AltaGas Ltd. 1,886 36,355 
ARC Resources Ltd. 2,947 32,868 
ATCO Ltd. Class I (non-vtg.) 709 21,453 
Bank of Montreal 5,965 453,014 
Bank of Nova Scotia 10,886 669,125 
Barrick Gold Corp. 11,388 153,265 
BCE, Inc. 1,321 56,062 
BlackBerry Ltd. (a) 4,420 46,267 
Bombardier, Inc. Class B (sub. vtg.) (a) 17,677 54,658 
Brookfield Asset Management, Inc. Class A 7,843 310,861 
CAE, Inc. 2,370 44,799 
Cameco Corp. 3,269 34,423 
Canadian Imperial Bank of Commerce 4,031 351,094 
Canadian National Railway Co. 6,756 521,821 
Canadian Natural Resources Ltd. 10,253 369,889 
Canadian Pacific Railway Ltd. 1,355 247,244 
Canadian Tire Ltd. Class A (non-vtg.) 712 97,033 
Canadian Utilities Ltd. Class A (non-vtg.) 1,080 27,506 
CCL Industries, Inc. Class B 1,223 59,324 
Cenovus Energy, Inc. 9,171 91,856 
CGI Group, Inc. Class A (sub. vtg.) (a) 2,493 144,460 
CI Financial Corp. 2,439 51,327 
Constellation Software, Inc. 198 141,509 
Crescent Point Energy Corp. 4,688 41,076 
Dollarama, Inc. 933 107,401 
Element Financial Corp. 3,006 11,355 
Emera, Inc. 537 16,725 
Empire Co. Ltd. Class A (non-vtg.) 1,448 28,003 
Enbridge, Inc. 15,270 462,518 
Encana Corp. 8,516 106,056 
Fairfax Financial Holdings Ltd. (sub. vtg.) 270 149,479 
Finning International, Inc. 1,385 34,939 
First Capital Realty, Inc. 1,229 19,211 
First Quantum Minerals Ltd. 5,820 83,858 
Fortis, Inc. 3,642 122,256 
Franco-Nevada Corp. 1,608 114,055 
George Weston Ltd. 463 37,932 
Gildan Activewear, Inc. 1,909 55,607 
Goldcorp, Inc. 7,556 100,280 
Great-West Lifeco, Inc. 2,633 70,196 
H&R REIT/H&R Finance Trust 1,278 20,524 
Husky Energy, Inc. 3,070 42,943 
Hydro One Ltd. (b) 2,534 40,242 
IGM Financial, Inc. 770 23,635 
Imperial Oil Ltd. 2,592 80,609 
Industrial Alliance Insurance and Financial Services, Inc. 943 39,609 
Intact Financial Corp. 1,200 91,499 
Inter Pipeline Ltd. 3,266 58,887 
Jean Coutu Group, Inc. Class A (sub. vtg.) 592 11,338 
Keyera Corp. 1,881 50,645 
Kinross Gold Corp. (a) 10,398 40,249 
Linamar Corp. 423 23,704 
Loblaw Companies Ltd. 1,842 93,682 
Lundin Mining Corp. 5,343 35,372 
Magna International, Inc. Class A (sub. vtg.) 3,233 190,941 
Manulife Financial Corp. 18,172 342,932 
Methanex Corp. 706 42,554 
Metro, Inc. Class A (sub. vtg.) 1,948 61,810 
National Bank of Canada 3,027 143,765 
Nutrien Ltd. 6,023 274,189 
Onex Corp. (sub. vtg.) 760 56,292 
Open Text Corp. 2,691 95,006 
Pembina Pipeline Corp. 5,273 167,929 
Power Corp. of Canada (sub. vtg.) 3,129 74,353 
Power Financial Corp. 2,260 58,632 
PrairieSky Royalty Ltd. 1,850 41,021 
Restaurant Brands International, Inc. 2,246 122,223 
Restaurant Brands International, Inc. 12 653 
RioCan (REIT) 1,239 22,533 
Rogers Communications, Inc. Class B (non-vtg.) 3,208 151,436 
Royal Bank of Canada 13,114 997,275 
Saputo, Inc. 1,914 62,058 
Seven Generations Energy Ltd. (a) 2,097 29,921 
Shaw Communications, Inc. Class B 3,753 77,138 
Shopify, Inc. Class A (a) 756 101,281 
Smart (REIT) 631 14,154 
SNC-Lavalin Group, Inc. 1,531 67,121 
Sun Life Financial, Inc. 5,741 236,982 
Suncor Energy, Inc. 15,371 587,808 
Teck Resources Ltd. Class B (sub. vtg.) 5,491 137,836 
TELUS Corp. 1,773 63,452 
The Toronto-Dominion Bank 16,722 939,151 
Thomson Reuters Corp. 2,475 99,524 
Tourmaline Oil Corp. 1,969 37,035 
TransCanada Corp. 8,169 346,369 
Turquoise Hill Resources Ltd. (a) 8,773 25,965 
Valeant Pharmaceuticals International, Inc. (Canada) (a) 2,914 52,656 
Vermilion Energy, Inc. 1,162 39,278 
West Fraser Timber Co. Ltd. 561 38,000 
Wheaton Precious Metals Corp. 3,892 80,783 
TOTAL CANADA  12,375,303 
Cayman Islands - 4.4%   
3SBio, Inc. (b) 8,000 17,189 
58.com, Inc. ADR (a) 804 70,262 
AAC Technology Holdings, Inc. 6,500 93,293 
Agile Property Holdings Ltd. 14,000 27,616 
Airtac International Group 1,000 17,321 
Alibaba Group Holding Ltd. sponsored ADR (a) 10,537 1,881,276 
Anta Sports Products Ltd. 10,000 57,062 
ASM Pacific Technology Ltd. 2,500 34,258 
Autohome, Inc. ADR Class A 444 43,312 
Baidu.com, Inc. sponsored ADR (a) 2,553 640,548 
Chailease Holding Co. Ltd. 10,000 36,423 
Cheung Kong Property Holdings Ltd. 25,000 215,824 
China Conch Venture Holdings Ltd. 15,000 46,568 
China Medical System Holdings Ltd. 12,000 29,385 
China Mengniu Dairy Co. Ltd. 24,000 77,371 
China Resources Land Ltd. 24,000 90,137 
China State Construction International Holdings Ltd. 16,000 20,809 
CIFI Holdings Group Co. Ltd. 30,000 23,623 
CK Hutchison Holdings Ltd. 26,000 307,446 
Country Garden Holdings Co. Ltd. 46,000 93,797 
Ctrip.com International Ltd. ADR (a) 3,885 158,897 
ENN Energy Holdings Ltd. 7,000 65,461 
Evergrande Real Estate Group Ltd. (a) 28,000 88,692 
Fullshare Holdings Ltd. 57,500 31,354 
GCL-Poly Energy Holdings Ltd. (a) 100,000 12,370 
Geely Automobile Holdings Ltd. 48,000 126,242 
General Interface Solution Holding Ltd. 1,000 5,975 
Haitian International Holdings Ltd. 5,000 13,307 
Hengan International Group Co. Ltd. 6,500 57,807 
JD.com, Inc. sponsored ADR (a) 6,214 226,873 
Kingboard Chemical Holdings Ltd. 5,500 22,376 
Kingsoft Corp. Ltd. 6,000 17,816 
Lee & Man Paper Manufacturing Ltd. 12,000 13,218 
Longfor Properties Co. Ltd. 12,500 37,384 
Meitu, Inc. (a)(b) 10,000 10,546 
Melco Crown Entertainment Ltd. sponsored ADR 2,097 65,447 
MGM China Holdings Ltd. 7,600 20,842 
Minth Group Ltd. 8,000 37,985 
Momo, Inc. ADR (a) 897 31,305 
NetEase, Inc. ADR 747 192,031 
New Oriental Education & Technology Group, Inc. sponsored ADR 1,256 112,839 
Nexteer Auto Group Ltd. 7,000 10,770 
Sands China Ltd. 23,600 136,393 
Semiconductor Manufacturing International Corp. (a) 24,500 31,509 
Shenzhou International Group Holdings Ltd. 7,000 76,414 
Shimao Property Holdings Ltd. 10,000 26,451 
SINA Corp. (a) 500 47,770 
Sino Biopharmaceutical Ltd. 40,000 84,232 
SOHO China Ltd. 16,000 8,216 
Sunac China Holdings Ltd. 21,000 89,202 
Sunny Optical Technology Group Co. Ltd. 6,100 99,538 
TAL Education Group ADR 3,115 113,448 
Tencent Holdings Ltd. 52,100 2,561,393 
Tingyi (Cayman Islands) Holding Corp. 18,000 33,887 
Vipshop Holdings Ltd. ADR (a) 3,499 54,165 
Want Want China Holdings Ltd. 44,000 38,882 
Weibo Corp. sponsored ADR (a) 422 48,327 
WH Group Ltd. (b) 76,500 79,199 
Wharf Real Estate Investment Co. Ltd. 11,000 82,475 
Wynn Macau Ltd. 13,200 48,779 
YY, Inc. ADR (a) 376 36,243 
Zhen Ding Technology Holding Ltd. 4,000 8,688 
TOTAL CAYMAN ISLANDS  8,888,268 
Chile - 0.3%   
AES Gener SA 25,018 7,016 
Aguas Andinas SA 20,224 13,452 
Banco de Chile 217,368 35,910 
Banco de Credito e Inversiones 382 28,913 
Banco Santander Chile 566,112 47,256 
Cencosud SA 12,704 37,777 
Colbun SA 60,873 15,135 
Compania Cervecerias Unidas SA 1,135 15,723 
Compania de Petroleos de Chile SA (COPEC) 4,229 68,948 
CorpBanca SA 1,193,672 12,202 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 1,612 19,025 
Empresas CMPC SA 10,886 44,690 
Enel Chile SA 233,715 28,963 
Enersis SA 254,379 58,062 
LATAM Airlines Group SA 2,614 40,099 
S.A.C.I. Falabella 8,494 82,384 
TOTAL CHILE  555,555 
China - 2.4%   
Agricultural Bank of China Ltd. (H Shares) 251,000 141,517 
Air China Ltd. (H Shares) 14,000 18,456 
Aluminum Corp. of China Ltd. (H Shares) (a) 30,000 16,944 
Anhui Conch Cement Co. Ltd. (H Shares) 10,500 65,536 
AviChina Industry & Technology Co. Ltd. (H Shares) 16,000 10,088 
Bank Communications Co. Ltd. (H Shares) 77,000 63,008 
Bank of China Ltd. (H Shares) 742,000 402,781 
Beijing Capital International Airport Co. Ltd. (H Shares) 14,000 19,068 
BYD Co. Ltd. (H Shares) 5,500 38,451 
CGN Power Co. Ltd. (H Shares) (b) 82,000 22,362 
China Cinda Asset Management Co. Ltd. (H Shares) 81,000 28,909 
China CITIC Bank Corp. Ltd. (H Shares) 78,000 55,758 
China Communications Construction Co. Ltd. (H Shares) 41,000 47,239 
China Communications Services Corp. Ltd. (H Shares) 18,000 11,301 
China Construction Bank Corp. (H Shares) 777,000 814,031 
China Everbright Bank Co. Ltd. (H Shares) 28,000 13,993 
China Galaxy Securities Co. Ltd. (H Shares) 25,500 16,749 
China Huarong Asset Management Co. Ltd. 82,000 28,241 
China Life Insurance Co. Ltd. (H Shares) 71,000 201,353 
China Longyuan Power Grid Corp. Ltd. (H Shares) 25,000 24,556 
China Merchants Bank Co. Ltd. (H Shares) 34,000 148,254 
China Minsheng Banking Corp. Ltd. (H Shares) 52,000 48,662 
China Molybdenum Co. Ltd. (H Shares) 33,000 24,798 
China National Building Materials Co. Ltd. (H Shares) 31,000 36,217 
China Oilfield Services Ltd. (H Shares) 14,000 13,968 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 22,600 99,727 
China Petroleum & Chemical Corp. (H Shares) 242,000 235,674 
China Railway Construction Corp. Ltd. (H Shares) 15,000 17,763 
China Railway Group Ltd. (H Shares) 31,000 24,847 
China Shenhua Energy Co. Ltd. (H Shares) 29,000 71,133 
China Southern Airlines Ltd. (H Shares) 14,000 15,075 
China Telecom Corp. Ltd. (H Shares) 162,000 78,527 
China Vanke Co. Ltd. (H Shares) 9,700 40,089 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 19,000 14,535 
CITIC Securities Co. Ltd. (H Shares) 21,500 52,411 
CRRC Corp. Ltd. (H Shares) 34,000 30,052 
Dongfeng Motor Group Co. Ltd. (H Shares) 24,000 26,540 
Fuyao Glass Industries Group Co. Ltd. 4,000 13,748 
GF Securities Co. Ltd. (H Shares) 12,400 21,831 
Great Wall Motor Co. Ltd. (H Shares) 25,500 26,449 
Guangzhou Automobile Group Co. Ltd. (H Shares) 18,000 32,971 
Guangzhou R&F Properties Co. Ltd. (H Shares) 7,600 18,070 
Haitong Securities Co. Ltd. (H Shares) 32,000 43,693 
Huaneng Power International, Inc. (H Shares) 36,000 23,792 
Huaneng Renewables Corp. Ltd. (H Shares) 38,000 16,876 
Huatai Securities Co. Ltd. (H Shares) (b) 13,600 27,548 
Industrial & Commercial Bank of China Ltd. (H Shares) 679,000 596,082 
Jiangsu Expressway Co. Ltd. (H Shares) 10,000 13,711 
Jiangxi Copper Co. Ltd. (H Shares) 10,000 14,217 
New China Life Insurance Co. Ltd. (H Shares) 6,900 32,171 
People's Insurance Co. of China Group (H Shares) 58,000 27,306 
PetroChina Co. Ltd. (H Shares) 186,000 137,058 
PICC Property & Casualty Co. Ltd. (H Shares) 40,000 71,607 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 48,000 469,027 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 16,000 9,833 
Shanghai Electric Group Co. Ltd. (H Shares) (a) 24,000 8,714 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 4,500 24,410 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 7,000 10,012 
Shanghai Pharma Holding Co. Ltd. (H Shares) 8,900 24,294 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 34,000 22,576 
Sinopharm Group Co. Ltd. (H Shares) 10,400 43,854 
TravelSky Technology Ltd. (H Shares) 8,000 23,368 
Tsingtao Brewery Co. Ltd. (H Shares) 4,000 20,710 
Weichai Power Co. Ltd. (H Shares) 18,000 20,838 
Yanzhou Coal Mining Co. Ltd. (H Shares) 14,000 17,519 
Zhejiang Expressway Co. Ltd. (H Shares) 10,000 10,269 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 4,500 23,858 
Zijin Mng Group Co. Ltd. (H Shares) 44,000 19,958 
ZTE Corp. (H Shares) (c) 5,600 12,654 
TOTAL CHINA  4,897,637 
Colombia - 0.1%   
Bancolombia SA 1,758 20,778 
Cementos Argos SA 3,521 12,447 
Ecopetrol SA 41,215 45,485 
Grupo de Inversiones Suramerica SA (a) 1,966 27,282 
Interconexion Electrica SA ESP 2,977 15,346 
Inversiones Argos SA 2,501 17,807 
TOTAL COLOMBIA  139,145 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 1,378 35,239 
Komercni Banka A/S 636 27,457 
MONETA Money Bank A/S (b) 4,366 15,718 
Telefonica Czech Rep A/S 467 6,390 
TOTAL CZECH REPUBLIC  84,804 
Denmark - 1.2%   
A.P. Moller - Maersk A/S:   
Series A 42 64,433 
Series B 57 91,980 
Carlsberg A/S Series B 1,083 121,365 
Christian Hansen Holding A/S 838 76,225 
Coloplast A/S Series B 1,040 88,102 
Danske Bank A/S 6,959 242,956 
DONG Energy A/S (b) 1,642 108,345 
DSV de Sammensluttede Vognmaend A/S 1,821 144,713 
Genmab A/S (a) 501 101,667 
H Lundbeck A/S 586 34,098 
ISS Holdings A/S 1,423 49,819 
Novo Nordisk A/S Series B 17,155 806,764 
Novozymes A/S Series B 2,306 108,412 
Pandora A/S 919 102,391 
Tryg A/S 1,137 26,998 
Vestas Wind Systems A/S 1,887 122,074 
William Demant Holding A/S (a) 1,021 39,915 
TOTAL DENMARK  2,330,257 
Egypt - 0.0%   
Commercial International Bank SAE 5,477 29,239 
Commercial International Bank SAE sponsored GDR 3,362 17,247 
Eastern Tobacco Co. 909 10,606 
Global Telecom Holding (a) 17,452 5,012 
TOTAL EGYPT  62,104 
Finland - 0.7%   
Elisa Corp. (A Shares) 1,194 52,946 
Fortum Corp. 3,790 87,463 
Kone Oyj (B Shares) 2,951 147,035 
Metso Corp. 958 34,232 
Neste Oyj 1,131 95,469 
Nokia Corp. 53,541 321,258 
Nokian Tyres PLC 1,074 43,124 
Orion Oyj (B Shares) 864 26,272 
Sampo Oyj (A Shares) 4,153 224,429 
Stora Enso Oyj (R Shares) 4,697 93,221 
UPM-Kymmene Corp. 5,050 181,000 
Wartsila Corp. 3,895 83,019 
TOTAL FINLAND  1,389,468 
France - 7.0%   
Accor SA 1,645 93,107 
Aeroports de Paris 258 56,829 
Air Liquide SA 3,899 506,778 
Alstom SA 1,598 72,771 
Amundi SA (b) 505 42,981 
Arkema SA 589 77,173 
Atos Origin SA 815 110,131 
AXA SA 17,583 502,850 
BIC SA 239 24,374 
bioMerieux SA 368 29,152 
BNP Paribas SA 10,109 781,044 
Bollore SA 7,647 38,028 
Bollore SA (a) 15 
Bouygues SA 2,138 109,083 
Bureau Veritas SA 2,315 60,525 
Capgemini SA 1,516 208,702 
Carrefour SA 5,686 116,969 
Casino Guichard Perrachon SA 490 25,420 
CNP Assurances 1,478 37,910 
Compagnie de St. Gobain 4,681 245,867 
Credit Agricole SA 10,800 177,829 
Danone SA 5,573 451,445 
Dassault Aviation SA 22 43,969 
Dassault Systemes SA 1,126 145,834 
Edenred SA 1,937 66,665 
EDF SA 5,012 70,512 
Eiffage SA 630 75,090 
ENGIE 16,546 290,723 
Essilor International SA 1,907 260,342 
Eurazeo SA 382 33,583 
Eutelsat Communications 1,438 31,153 
Faurecia SA 623 51,008 
Fonciere des Regions 285 31,887 
Gecina SA 426 73,873 
Groupe Eurotunnel SA 3,922 55,366 
Hermes International SCA 297 192,169 
ICADE 293 29,138 
Iliad SA 227 45,491 
Imerys SA 314 28,666 
Ingenico SA 519 45,376 
Ipsen SA 331 53,762 
JCDecaux SA 640 22,892 
Kering SA 694 401,940 
Klepierre SA 1,961 80,326 
L'Oreal SA 2,245 539,095 
Lagardere S.C.A. (Reg.) 1,003 28,682 
Legrand SA 2,649 206,331 
LVMH Moet Hennessy - Louis Vuitton SA 2,527 879,427 
Michelin CGDE Series B 1,598 224,912 
Natixis SA 8,425 69,305 
Orange SA 18,247 331,724 
Pernod Ricard SA 1,940 322,244 
Peugeot Citroen SA 5,575 137,475 
Publicis Groupe SA 1,825 136,640 
Remy Cointreau SA 201 27,695 
Renault SA 1,802 195,500 
Rexel SA 2,575 39,958 
Safran SA 3,029 355,272 
Sanofi SA 10,388 821,299 
Schneider Electric SA 5,200 472,722 
SCOR SE 1,798 73,063 
SEB SA 198 37,994 
Societe Generale Series A 6,999 383,047 
Sodexo SA 782 77,440 
SR Teleperformance SA 491 78,801 
Suez Environnement SA 3,191 46,087 
Thales SA 1,020 129,334 
Total SA 21,757 1,367,466 
Ubisoft Entertainment SA (a) 673 64,304 
Unibail-Rodamco 964 231,545 
Valeo SA 2,096 140,326 
Veolia Environnement SA 4,702 111,604 
VINCI SA 4,623 462,225 
Vivendi SA 9,595 253,638 
Wendel SA 236 35,681 
TOTAL FRANCE  14,179,584 
Germany - 6.1%   
adidas AG 1,720 423,515 
Allianz SE 3,953 934,979 
Axel Springer Verlag AG 408 33,430 
BASF AG 8,313 864,913 
Bayer AG 7,577 905,600 
Bayerische Motoren Werke AG (BMW) 2,969 331,539 
Beiersdorf AG 872 98,900 
Brenntag AG 1,372 78,732 
Commerzbank AG (a) 10,288 133,059 
Continental AG 1,004 268,190 
Covestro AG (b) 1,413 128,931 
Daimler AG (Germany) 8,667 685,541 
Deutsche Bank AG 18,977 260,470 
Deutsche Borse AG 1,774 238,584 
Deutsche Lufthansa AG 2,088 60,944 
Deutsche Post AG 8,721 378,530 
Deutsche Telekom AG 30,362 531,445 
Deutsche Wohnen AG (Bearer) 3,394 160,419 
Drillisch AG 459 33,313 
E.ON AG 20,337 222,685 
Evonik Industries AG 1,389 49,448 
Fraport AG Frankfurt Airport Services Worldwide 357 34,662 
Fresenius Medical Care AG & Co. KGaA 2,043 207,305 
Fresenius SE & Co. KGaA 3,848 294,331 
GEA Group AG 1,631 63,835 
Hannover Reuck SE 613 86,314 
HeidelbergCement Finance AG 1,439 141,208 
Henkel AG & Co. KGaA 908 108,279 
Hochtief AG 161 29,475 
Hugo Boss AG 549 51,579 
Infineon Technologies AG 10,493 268,681 
Innogy SE (b) 1,216 53,642 
K&S AG 1,681 49,552 
KION Group AG 604 50,547 
Lanxess AG 782 58,134 
Linde AG 678 150,691 
Linde AG 1,042 224,987 
MAN SE 320 36,904 
Merck KGaA 1,272 124,759 
Metro Wholesale & Food Specialist AG 1,499 21,749 
MTU Aero Engines Holdings AG 450 77,709 
Muenchener Rueckversicherungs AG 1,404 322,055 
OSRAM Licht AG 870 50,188 
ProSiebenSat.1 Media AG 2,091 75,857 
RWE AG 4,447 106,733 
SAP SE 8,913 990,285 
Schaeffler AG 1,564 24,298 
Siemens AG 6,959 883,757 
Siemens Healthineers AG (a)(b) 1,268 49,436 
Symrise AG 1,084 87,836 
Telefonica Deutschland Holding AG 6,083 29,097 
Thyssenkrupp AG 4,269 111,353 
TUI AG 302 6,838 
TUI AG (GB) 3,457 78,314 
Uniper SE 1,728 53,566 
United Internet AG 1,067 69,296 
Volkswagen AG 296 60,265 
Vonovia SE 4,504 226,318 
Wirecard AG 1,118 152,696 
Zalando SE (a)(b) 995 51,367 
TOTAL GERMANY  12,387,065 
Greece - 0.1%   
Alpha Bank AE (a) 12,017 31,781 
EFG Eurobank Ergasias SA (a) 14,434 18,285 
Ff Group (a) 256 4,854 
Greek Organization of Football Prognostics SA 2,063 24,738 
Hellenic Telecommunications Organization SA 2,151 31,300 
Jumbo SA 788 14,426 
National Bank of Greece SA (a) 42,774 17,872 
Piraeus Bank SA (a) 2,200 9,330 
Titan Cement Co. SA (Reg.) 361 9,525 
TOTAL GREECE  162,111 
Hong Kong - 2.5%   
AIA Group Ltd. 110,400 986,667 
Bank of East Asia Ltd. 10,407 45,698 
Beijing Enterprises Holdings Ltd. 4,000 19,980 
BOC Hong Kong (Holdings) Ltd. 33,000 170,594 
BYD Electronic International Co. Ltd. 5,000 7,624 
China Everbright International Ltd. 24,000 33,664 
China Everbright Ltd. 10,000 22,006 
China Jinmao Holdings Group Ltd. 46,000 26,040 
China Merchants Holdings International Co. Ltd. 12,131 27,105 
China Mobile Ltd. 57,500 547,774 
China Overseas Land and Investment Ltd. 38,000 127,324 
China Resources Beer Holdings Co. Ltd. 16,000 68,911 
China Resources Pharmaceutical Group Ltd. 14,500 20,046 
China Resources Power Holdings Co. Ltd. 16,000 30,690 
China Taiping Insurance Group Ltd. 14,200 47,487 
China Unicom Ltd. 52,000 73,531 
CITIC Pacific Ltd. 51,000 77,775 
CLP Holdings Ltd. 16,500 171,337 
CNOOC Ltd. 170,000 287,591 
CSPC Pharmaceutical Group Ltd. 42,000 106,976 
Far East Horizon Ltd. 15,000 14,884 
Fosun International Ltd. 22,000 46,750 
Galaxy Entertainment Group Ltd. 21,000 183,805 
Guangdong Investment Ltd. 26,000 40,244 
Hang Lung Group Ltd. 8,000 24,164 
Hang Lung Properties Ltd. 19,000 44,965 
Hang Seng Bank Ltd. 6,700 169,710 
Henderson Land Development Co. Ltd. 13,000 82,427 
Hong Kong & China Gas Co. Ltd. 82,100 171,544 
Hong Kong Exchanges and Clearing Ltd. 11,008 356,599 
Hysan Development Co. Ltd. 6,000 34,921 
i-CABLE Communications Ltd. (a) 531 11 
Lenovo Group Ltd. 68,000 32,285 
Link (REIT) 21,500 190,020 
MTR Corp. Ltd. 15,002 84,293 
New World Development Co. Ltd. 52,044 76,324 
PCCW Ltd. 43,000 26,581 
Power Assets Holdings Ltd. 12,500 93,011 
Shanghai Industrial Holdings Ltd. 5,000 13,111 
Sino Land Ltd. 28,000 48,333 
Sino-Ocean Group Holding Ltd. 23,500 16,318 
SJM Holdings Ltd. 15,000 15,024 
Sun Art Retail Group Ltd. 21,000 23,603 
Sun Hung Kai Properties Ltd. 13,000 209,358 
Swire Pacific Ltd. (A Shares) 4,500 44,466 
Swire Properties Ltd. 10,200 36,205 
Techtronic Industries Co. Ltd. 12,000 70,298 
Wharf Holdings Ltd. 11,000 36,595 
Wheelock and Co. Ltd. 7,000 51,934 
TOTAL HONG KONG  5,136,603 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 3,016 34,852 
OTP Bank PLC 2,444 106,777 
Richter Gedeon PLC 1,182 23,910 
TOTAL HUNGARY  165,539 
India - 2.1%   
ACC Ltd. 363 8,648 
Adani Ports & Special Economic Zone Ltd. 6,333 38,740 
Ambuja Cements Ltd. 5,435 20,457 
Ashok Leyland Ltd. 10,405 25,640 
Asian Paints Ltd. 2,445 44,120 
Aurobindo Pharma Ltd. 2,515 24,242 
Axis Bank Ltd. 17,806 138,040 
Bajaj Auto Ltd. 686 30,370 
Bajaj Finance Ltd. 1,482 42,369 
Bajaj Finserv Ltd. 319 26,243 
Bharat Forge Ltd. 1,615 18,755 
Bharat Heavy Electricals Ltd. 7,154 9,408 
Bharat Petroleum Corp. Ltd. 6,967 40,481 
Bharti Airtel Ltd. 14,467 88,840 
Bharti Infratel Ltd. 4,227 19,894 
Bosch Ltd. 66 19,228 
Britannia Industries Ltd. 221 18,327 
Cadila Healthcare Ltd. (a) 1,581 9,790 
Cipla Ltd. (a) 2,887 26,299 
Coal India Ltd. 5,745 24,591 
Container Corp. of India Ltd. 292 5,715 
Dabur India Ltd. 4,841 26,845 
Dr. Reddy's Laboratories Ltd. 1,015 32,254 
Eicher Motors Ltd. 119 55,600 
GAIL India Ltd. 5,585 27,266 
Glenmark Pharmaceuticals Ltd. 1,113 9,559 
Godrej Consumer Products Ltd. 2,068 34,654 
Grasim Industries Ltd. 2,948 48,336 
Havells India Ltd. 1,926 15,796 
HCL Technologies Ltd. 4,858 76,802 
Hero Motocorp Ltd. 471 26,384 
Hindalco Industries Ltd. 10,023 35,264 
Hindustan Petroleum Corp. Ltd. 5,014 22,893 
Hindustan Unilever Ltd. 6,283 142,175 
Housing Development Finance Corp. Ltd. 13,887 392,905 
ICICI Bank Ltd. 23,768 101,577 
Idea Cellular Ltd. (a) 17,495 18,147 
IDFC Bank Ltd. 11,117 8,053 
Indiabulls Housing Finance Ltd. 2,851 55,819 
Indian Oil Corp. Ltd. 9,657 23,478 
Infosys Ltd. 16,092 289,752 
Infosys Ltd. sponsored ADR 93 1,643 
ITC Ltd. 33,104 139,898 
JSW Steel Ltd. 7,511 36,521 
Larsen & Toubro Ltd. 4,121 86,630 
LIC Housing Finance Ltd. 2,709 22,179 
Lupin Ltd. (a) 1,902 23,166 
Mahindra & Mahindra Financial Services Ltd. (a) 2,700 21,375 
Mahindra & Mahindra Ltd. 6,580 86,167 
Marico Ltd. 4,432 22,111 
Maruti Suzuki India Ltd. 1,023 135,244 
Motherson Sumi Systems Ltd. 5,268 27,911 
Nestle India Ltd. 205 28,965 
NTPC Ltd. 13,531 34,986 
Oil & Natural Gas Corp. Ltd. 10,626 28,800 
Petronet LNG Ltd. 8,802 29,968 
Piramal Enterprises Ltd. (a) 753 29,368 
Power Finance Corp. Ltd. 5,423 7,144 
Reliance Industries Ltd. 26,308 379,845 
Rural Electrification Corp. Ltd. 5,312 10,158 
Shree Cement Ltd. 76 19,331 
Shriram Transport Finance Co. Ltd. 1,272 30,707 
Siemens India Ltd. 567 9,553 
State Bank of India 15,309 56,565 
Sun Pharmaceutical Industries Ltd. 8,452 67,052 
Tata Consultancy Services Ltd. 4,260 225,921 
Tata Motors Ltd. (a) 16,451 83,547 
Tata Motors Ltd. Class A (a) 3,702 10,609 
Tata Power Co. Ltd. 8,547 11,317 
Tata Steel Ltd. 3,470 30,867 
Tech Mahindra Ltd. 4,127 41,482 
Titan Co. Ltd. (a) 2,564 37,776 
Ultratech Cemco Ltd. 744 45,870 
United Spirits Ltd. (a) 490 26,630 
UPL Ltd. 3,412 37,356 
Vakrangee Ltd. 3,289 4,930 
Vedanta Ltd. 13,063 58,255 
Wipro Ltd. 9,769 40,714 
Yes Bank Ltd. 14,895 80,776 
Zee Entertainment Enterprises Ltd. (a) 4,500 39,743 
TOTAL INDIA  4,234,836 
Indonesia - 0.5%   
PT Adaro Energy Tbk 111,300 14,575 
PT AKR Corporindo Tbk 13,500 4,727 
PT Astra International Tbk 176,400 90,286 
PT Bank Central Asia Tbk 95,000 150,222 
PT Bank Danamon Indonesia Tbk Series A 26,000 12,394 
PT Bank Mandiri (Persero) Tbk 162,200 82,163 
PT Bank Negara Indonesia (Persero) Tbk 62,900 36,213 
PT Bank Rakyat Indonesia Tbk 486,200 112,102 
PT Bank Tabungan Negara Tbk 32,900 7,332 
PT Bumi Serpong Damai Tbk 60,100 7,257 
PT Charoen Pokphand Indonesia Tbk 57,000 15,027 
PT Gudang Garam Tbk 4,200 20,865 
PT Hanjaya Mandala Sampoerna Tbk 80,500 20,398 
PT Indocement Tunggal Prakarsa Tbk 16,000 20,248 
PT Indofood CBP Sukses Makmur Tbk 18,100 11,245 
PT Indofood Sukses Makmur Tbk 37,100 18,549 
PT Jasa Marga Tbk 20,400 6,377 
PT Kalbe Farma Tbk 191,300 20,652 
PT Matahari Department Store Tbk 19,100 14,142 
PT Pakuwon Jati Tbk 192,000 8,116 
PT Perusahaan Gas Negara Tbk Series B 84,200 11,919 
PT Semen Gresik (Persero) Tbk 27,200 18,787 
PT Surya Citra Media Tbk 47,300 8,658 
PT Telekomunikasi Indonesia Tbk Series B 445,200 121,484 
PT Tower Bersama Infrastructure Tbk 14,900 5,934 
PT Unilever Indonesia Tbk 13,500 44,869 
PT United Tractors Tbk 13,900 33,914 
PT Waskita Karya Persero Tbk 36,300 5,734 
PT XL Axiata Tbk (a) 28,300 4,289 
TOTAL INDONESIA  928,478 
Ireland - 0.4%   
AIB Group PLC 6,850 40,881 
Bank Ireland Group PLC 9,319 83,840 
CRH PLC 7,814 277,486 
CRH PLC sponsored ADR 31 1,096 
DCC PLC (United Kingdom) 768 74,011 
James Hardie Industries PLC CDI 3,856 68,095 
Kerry Group PLC Class A 1,518 154,900 
Paddy Power Betfair PLC (Ireland) 691 68,383 
Ryanair Holdings PLC (a) 493 9,189 
Ryanair Holdings PLC sponsored ADR (a) 169 18,585 
TOTAL IRELAND  796,466 
Isle of Man - 0.1%   
Gaming VC Holdings SA 4,545 55,845 
Genting Singapore PLC 52,200 45,733 
NEPI Rockcastle PLC 3,168 34,914 
TOTAL ISLE OF MAN  136,492 
Israel - 0.3%   
Azrieli Group 318 14,588 
Bank Hapoalim BM (Reg.) 9,058 62,065 
Bank Leumi le-Israel BM 12,595 74,542 
Bezeq The Israel Telecommunication Corp. Ltd. 17,364 21,914 
Check Point Software Technologies Ltd. (a) 1,267 122,278 
Elbit Systems Ltd. (Israel) 205 23,724 
Frutarom Industries Ltd. 333 31,968 
Israel Chemicals Ltd. 6,089 27,375 
Mizrahi Tefahot Bank Ltd. 1,362 24,943 
NICE Systems Ltd. (a) 490 46,482 
NICE Systems Ltd. sponsored ADR (a) 40 3,807 
Teva Pharmaceutical Industries Ltd. sponsored ADR 7,974 143,373 
TOTAL ISRAEL  597,059 
Italy - 1.4%   
Assicurazioni Generali SpA 11,493 232,334 
Atlantia SpA 4,376 145,323 
Davide Campari-Milano SpA 4,925 36,993 
Enel SpA 73,285 464,900 
Eni SpA 23,038 450,356 
Intesa Sanpaolo SpA 114,956 437,288 
Intesa Sanpaolo SpA (Risparmio Shares) 14,332 56,872 
Leonardo SpA 3,550 41,198 
Luxottica Group SpA 1,484 92,758 
Mediobanca SpA 5,409 65,744 
Poste Italiane SpA (b) 4,426 43,325 
Prysmian SpA 1,863 54,849 
Recordati SpA 910 32,583 
Snam Rete Gas SpA 19,885 95,692 
Telecom Italia SpA (a) 99,166 97,982 
Terna SpA 14,625 87,900 
UniCredit SpA 18,303 397,274 
Unipolsai SpA 8,693 23,410 
TOTAL ITALY  2,856,781 
Japan - 16.3%   
ABC-MART, Inc. 200 13,191 
ACOM Co. Ltd. 3,100 14,065 
AEON Co. Ltd. 5,300 106,053 
AEON Financial Service Co. Ltd. 900 21,125 
AEON MALL Co. Ltd. 1,000 20,289 
Air Water, Inc. 1,200 23,205 
Aisin Seiki Co. Ltd. 1,500 81,504 
Ajinomoto Co., Inc. 4,700 86,244 
Alfresa Holdings Corp. 1,700 37,570 
All Nippon Airways Ltd. 1,000 39,700 
Alps Electric Co. Ltd. 1,700 37,757 
Amada Holdings Co. Ltd. 2,900 34,937 
Aozora Bank Ltd. 1,000 40,478 
Asahi Glass Co. Ltd. 1,700 70,600 
Asahi Group Holdings 3,400 172,177 
Asahi Kasei Corp. 12,000 165,478 
Asics Corp. 1,300 24,640 
Astellas Pharma, Inc. 19,300 282,286 
Bandai Namco Holdings, Inc. 1,700 57,771 
Bank of Kyoto Ltd. 600 36,114 
Benesse Holdings, Inc. 700 25,549 
Bridgestone Corp. 6,000 251,866 
Brother Industries Ltd. 2,000 43,103 
Calbee, Inc. 700 23,628 
Canon, Inc. 9,800 337,112 
Casio Computer Co. Ltd. 1,600 23,900 
Central Japan Railway Co. 1,300 261,261 
Chiba Bank Ltd. 6,700 54,179 
Chubu Electric Power Co., Inc. 5,500 86,208 
Chugai Pharmaceutical Co. Ltd. 2,000 105,745 
Chugoku Electric Power Co., Inc. 2,500 31,330 
Coca-Cola West Co. Ltd. 1,100 47,393 
Concordia Financial Group Ltd. 10,400 60,600 
Credit Saison Co. Ltd. 1,400 25,139 
CYBERDYNE, Inc. (a) 700 8,971 
Dai Nippon Printing Co. Ltd. 2,800 60,395 
Dai-ichi Mutual Life Insurance Co. 10,100 200,854 
Daicel Chemical Industries Ltd. 2,500 28,952 
Daifuku Co. Ltd. 900 48,408 
Daiichi Sankyo Kabushiki Kaisha 5,300 181,806 
Daikin Industries Ltd. 2,300 269,406 
Dainippon Sumitomo Pharma Co. Ltd. 1,300 23,724 
Daito Trust Construction Co. Ltd. 600 100,192 
Daiwa House Industry Co. Ltd. 5,400 198,079 
Daiwa House REIT Investment Corp. 15 35,812 
Daiwa Securities Group, Inc. 14,000 86,149 
DeNA Co. Ltd. 800 15,258 
DENSO Corp. 4,400 231,672 
Dentsu, Inc. 1,900 90,029 
Disco Corp. 300 52,909 
Don Quijote Holdings Co. Ltd. 1,100 59,367 
East Japan Railway Co. 3,000 287,870 
Eisai Co. Ltd. 2,500 167,970 
Electric Power Development Co. Ltd. 1,300 35,413 
FamilyMart Co. Ltd. 700 68,066 
Fanuc Corp. 1,800 385,579 
Fast Retailing Co. Ltd. 500 220,499 
Fuji Electric Co. Ltd. 5,000 35,858 
Fujifilm Holdings Corp. 3,600 145,060 
Fujitsu Ltd. 18,000 109,643 
Fukuoka Financial Group, Inc. 7,000 37,523 
Hakuhodo DY Holdings, Inc. 2,100 29,410 
Hamamatsu Photonics K.K. 1,200 46,323 
Hankyu Hanshin Holdings, Inc. 2,100 82,890 
Hikari Tsushin, Inc. 200 32,492 
Hino Motors Ltd. 2,200 26,906 
Hirose Electric Co. Ltd. 300 42,316 
Hisamitsu Pharmaceutical Co., Inc. 600 46,817 
Hitachi Chemical Co. Ltd. 800 17,607 
Hitachi Construction Machinery Co. Ltd. 1,000 36,453 
Hitachi High-Technologies Corp. 700 32,720 
Hitachi Ltd. 44,000 322,634 
Hitachi Metals Ltd. 1,800 20,681 
Honda Motor Co. Ltd. 15,700 539,860 
Hoshizaki Corp. 500 46,515 
Hoya Corp. 3,400 182,316 
Hulic Co. Ltd. 2,600 27,993 
Idemitsu Kosan Co. Ltd. 1,200 47,036 
IHI Corp. 1,300 42,691 
Iida Group Holdings Co. Ltd. 1,400 27,419 
INPEX Corp. 8,200 105,200 
Isetan Mitsukoshi Holdings Ltd. 2,800 31,196 
Isuzu Motors Ltd. 4,900 75,033 
Itochu Corp. 13,800 276,959 
J. Front Retailing Co. Ltd. 2,100 34,097 
Japan Airlines Co. Ltd. 1,000 39,426 
Japan Airport Terminal Co. Ltd. 400 16,447 
Japan Exchange Group, Inc. 4,600 85,419 
Japan Post Bank Co. Ltd. 3,300 44,918 
Japan Post Holdings Co. Ltd. 14,800 180,059 
Japan Prime Realty Investment Corp. 29,052 
Japan Real Estate Investment Corp. 14 72,741 
Japan Retail Fund Investment Corp. 23 43,130 
Japan Tobacco, Inc. 10,100 271,301 
JFE Holdings, Inc. 4,500 92,803 
JGC Corp. 1,800 44,210 
JSR Corp. 1,600 30,223 
JTEKT Corp. 1,800 29,226 
JX Holdings, Inc. 29,200 190,820 
Kajima Corp. 8,000 77,205 
Kakaku.com, Inc. 1,300 24,866 
Kamigumi Co. Ltd. 1,000 22,594 
Kaneka Corp. 2,000 19,777 
Kansai Electric Power Co., Inc. 6,200 86,773 
Kansai Paint Co. Ltd. 1,700 38,317 
Kao Corp. 4,600 330,525 
Kawasaki Heavy Industries Ltd. 1,300 43,643 
KDDI Corp. 16,400 440,235 
Keihan Electric Railway Co., Ltd. 900 29,144 
Keihin Electric Express Railway Co. Ltd. 1,900 34,882 
Keio Corp. 1,000 45,829 
Keisei Electric Railway Co. 1,200 39,188 
Keyence Corp. 900 551,345 
Kikkoman Corp. 1,300 56,426 
Kintetsu Group Holdings Co. Ltd. 1,900 77,429 
Kirin Holdings Co. Ltd. 8,100 227,692 
Kobe Steel Ltd. 2,800 28,994 
Koito Manufacturing Co. Ltd. 1,000 67,234 
Komatsu Ltd. 8,500 289,754 
Konami Holdings Corp. 800 39,371 
Konica Minolta, Inc. 3,900 33,535 
Kose Corp. 300 55,571 
Kubota Corp. 10,000 169,182 
Kuraray Co. Ltd. 3,000 50,000 
Kurita Water Industries Ltd. 800 25,979 
Kyocera Corp. 2,800 179,239 
Kyowa Hakko Kirin Co., Ltd. 2,200 47,775 
Kyushu Electric Power Co., Inc. 3,600 44,523 
Kyushu Financial Group, Inc. 2,600 12,795 
Kyushu Railway Co. 1,400 44,951 
Lawson, Inc. 500 33,068 
LINE Corp. (a) 300 10,849 
Lion Corp. 2,000 43,213 
LIXIL Group Corp. 3,000 67,316 
M3, Inc. 1,800 68,249 
Mabuchi Motor Co. Ltd. 400 20,198 
Makita Corp. 2,000 90,011 
Marubeni Corp. 16,300 122,891 
Marui Group Co. Ltd. 1,800 37,459 
Maruichi Steel Tube Ltd. 400 13,703 
Mazda Motor Corp. 4,800 66,806 
McDonald's Holdings Co. (Japan) Ltd. 500 23,417 
Mebuki Financial Group, Inc. 8,700 33,823 
Medipal Holdings Corp. 1,500 32,259 
Meiji Holdings Co. Ltd. 1,100 88,346 
Minebea Mitsumi, Inc. 3,300 66,320 
Misumi Group, Inc. 2,500 69,292 
Mitsubishi Chemical Holdings Corp. 14,200 135,025 
Mitsubishi Corp. 13,900 384,882 
Mitsubishi Electric Corp. 17,900 275,164 
Mitsubishi Estate Co. Ltd. 11,800 215,616 
Mitsubishi Gas Chemical Co., Inc. 1,500 35,318 
Mitsubishi Heavy Industries Ltd. 3,100 122,673 
Mitsubishi Materials Corp. 1,000 30,553 
Mitsubishi Motors Corp. of Japan 5,700 42,547 
Mitsubishi Tanabe Pharma Corp. 1,900 36,220 
Mitsubishi UFJ Financial Group, Inc. 108,700 728,436 
Mitsubishi UFJ Lease & Finance Co. Ltd. 3,600 22,953 
Mitsui & Co. Ltd. 15,800 285,663 
Mitsui Chemicals, Inc. 1,700 48,829 
Mitsui Fudosan Co. Ltd. 8,300 213,460 
Mitsui OSK Lines Ltd. 1,100 32,652 
mixi, Inc. 300 9,907 
Mizuho Financial Group, Inc. 217,200 392,966 
MS&AD Insurance Group Holdings, Inc. 4,600 154,512 
Murata Manufacturing Co. Ltd. 1,800 227,243 
Nabtesco Corp. 1,000 36,178 
Nagoya Railroad Co. Ltd. 1,500 39,394 
NEC Corp. 2,200 60,474 
New Hampshire Foods Ltd. 800 35,016 
Nexon Co. Ltd. (a) 3,300 48,087 
NGK Insulators Ltd. 2,200 40,490 
NGK Spark Plug Co. Ltd. 2,000 51,592 
Nidec Corp. 2,200 344,932 
Nikon Corp. 2,900 50,615 
Nintendo Co. Ltd. 1,000 420,177 
Nippon Building Fund, Inc. 12 67,508 
Nippon Electric Glass Co. Ltd. 600 17,316 
Nippon Express Co. Ltd. 700 52,955 
Nippon Paint Holdings Co. Ltd. 1,400 57,373 
Nippon Prologis REIT, Inc. 15 31,600 
Nippon Steel & Sumitomo Metal Corp. 7,300 159,262 
Nippon Telegraph & Telephone Corp. 6,300 298,968 
Nippon Yusen KK 1,400 29,890 
Nissan Chemical Industries Co. Ltd. 1,100 49,053 
Nissan Motor Co. Ltd. 21,300 224,359 
Nisshin Seifun Group, Inc. 2,500 54,725 
Nissin Food Holdings Co. Ltd. 600 44,182 
Nitori Holdings Co. Ltd. 700 118,332 
Nitto Denko Corp. 1,600 119,283 
NKSJ Holdings, Inc. 3,400 142,755 
NOK Corp. 800 16,465 
Nomura Holdings, Inc. 34,100 196,401 
Nomura Real Estate Holdings, Inc. 1,000 24,863 
Nomura Real Estate Master Fund, Inc. 33 46,095 
Nomura Research Institute Ltd. 1,200 62,020 
NSK Ltd. 3,200 43,030 
NTT Data Corp. 5,500 59,317 
NTT DOCOMO, Inc. 12,200 315,175 
Obayashi Corp. 5,600 64,647 
OBIC Co. Ltd. 600 50,329 
Odakyu Electric Railway Co. Ltd. 3,100 66,951 
Oji Holdings Corp. 8,000 56,348 
Olympus Corp. 2,900 108,365 
OMRON Corp. 1,900 103,238 
Ono Pharmaceutical Co. Ltd. 3,500 81,145 
Oracle Corp. Japan 300 24,698 
Oriental Land Co. Ltd. 2,000 199,689 
ORIX Corp. 12,600 221,756 
Osaka Gas Co. Ltd. 3,200 68,906 
Otsuka Corp. 800 37,322 
Otsuka Holdings Co. Ltd. 3,700 194,003 
Panasonic Corp. 20,600 305,027 
Park24 Co. Ltd. 1,000 28,357 
Pola Orbis Holdings, Inc. 800 34,980 
Rakuten, Inc. 8,100 57,563 
Recruit Holdings Co. Ltd. 10,300 238,091 
Renesas Electronics Corp. (a) 7,900 82,960 
Resona Holdings, Inc. 21,500 122,447 
Ricoh Co. Ltd. 6,200 60,741 
Rinnai Corp. 300 29,885 
ROHM Co. Ltd. 900 84,138 
Ryohin Keikaku Co. Ltd. 200 68,697 
Sankyo Co. Ltd. (Gunma) 300 10,552 
Santen Pharmaceutical Co. Ltd. 3,200 54,007 
SBI Holdings, Inc. Japan 1,700 43,029 
Secom Co. Ltd. 2,000 150,055 
Sega Sammy Holdings, Inc. 1,500 24,643 
Seibu Holdings, Inc. 2,000 33,827 
Seiko Epson Corp. 2,300 43,235 
Sekisui Chemical Co. Ltd. 3,500 62,111 
Sekisui House Ltd. 5,100 93,514 
Seven & i Holdings Co. Ltd. 6,900 304,020 
Seven Bank Ltd. 4,500 15,148 
Sharp Corp. 1,300 38,232 
Shimadzu Corp. 2,100 57,168 
Shimamura Co. Ltd. 200 23,326 
SHIMANO, Inc. 700 93,103 
SHIMIZU Corp. 4,800 47,596 
Shin-Etsu Chemical Co. Ltd. 3,600 362,404 
Shinsei Bank Ltd. 1,500 23,436 
Shionogi & Co. Ltd. 2,600 133,996 
Shiseido Co. Ltd. 3,500 227,699 
Shizuoka Bank Ltd. 5,100 51,877 
Showa Shell Sekiyu K.K. 1,400 19,812 
SMC Corp. 600 228,979 
SoftBank Corp. 7,500 573,065 
Sohgo Security Services Co., Ltd. 700 34,641 
Sony Corp. 11,500 537,120 
Sony Financial Holdings, Inc. 1,600 29,257 
Stanley Electric Co. Ltd. 1,200 43,524 
Start Today Co. Ltd. 1,600 46,250 
Subaru Corp. 5,800 195,190 
Sumco Corp. 1,900 46,961 
Sumitomo Chemical Co. Ltd. 14,000 80,553 
Sumitomo Corp. 11,100 199,977 
Sumitomo Electric Industries Ltd. 6,500 99,861 
Sumitomo Heavy Industries Ltd. 1,100 42,161 
Sumitomo Metal Mining Co. Ltd. 2,200 94,544 
Sumitomo Mitsui Financial Group, Inc. 12,200 508,475 
Sumitomo Mitsui Trust Holdings, Inc. 3,200 135,997 
Sumitomo Realty & Development Co. Ltd. 3,000 119,347 
Sumitomo Rubber Industries Ltd. 1,600 28,643 
Sundrug Co. Ltd. 700 36,050 
Suntory Beverage & Food Ltd. 1,200 59,166 
Suzuken Co. Ltd. 600 25,851 
Suzuki Motor Corp. 3,300 177,829 
Sysmex Corp. 1,500 132,821 
T&D Holdings, Inc. 4,700 79,924 
Taiheiyo Cement Corp. 1,000 37,916 
Taisei Corp. 2,000 108,123 
Taisho Pharmaceutical Holdings Co. Ltd. 300 28,787 
Taiyo Nippon Sanso Corp. 1,000 14,846 
Takashimaya Co. Ltd. 4,000 34,394 
Takeda Pharmaceutical Co. Ltd. 6,600 277,926 
TDK Corp. 1,100 95,088 
Teijin Ltd. 1,600 30,165 
Temp Holdings Co., Ltd. 1,500 35,716 
Terumo Corp. 3,100 175,814 
The Hachijuni Bank Ltd. 3,300 17,478 
The Suruga Bank Ltd. 1,400 19,056 
THK Co. Ltd. 1,100 38,538 
Tobu Railway Co. Ltd. 1,700 54,272 
Toho Co. Ltd. 1,000 33,480 
Toho Gas Co. Ltd. 600 18,222 
Tohoku Electric Power Co., Inc. 3,800 49,047 
Tokio Marine Holdings, Inc. 6,100 288,595 
Tokyo Electric Power Co., Inc. (a) 12,100 57,666 
Tokyo Electron Ltd. 1,400 269,640 
Tokyo Gas Co. Ltd. 3,900 104,599 
Tokyo Tatemono Co. Ltd. 1,900 28,973 
Tokyu Corp. 4,700 79,150 
Tokyu Fudosan Holdings Corp. 4,500 35,483 
Toppan Printing Co. Ltd. 6,000 50,274 
Toray Industries, Inc. 12,800 119,483 
Toshiba Corp. (a) 62,000 166,173 
Tosoh Corp. 2,600 46,187 
Toto Ltd. 1,200 68,167 
Toyo Seikan Group Holdings Ltd. 1,300 20,489 
Toyo Suisan Kaisha Ltd. 800 31,540 
Toyoda Gosei Co. Ltd. 500 12,688 
Toyota Industries Corp. 1,400 82,858 
Toyota Motor Corp. 23,600 1,547,509 
Toyota Tsusho Corp. 1,800 64,791 
Trend Micro, Inc. 1,000 60,007 
Tsuruha Holdings, Inc. 300 43,167 
Unicharm Corp. 3,900 109,701 
United Urban Investment Corp. 26 39,909 
USS Co. Ltd. 1,900 39,992 
West Japan Railway Co. 1,600 113,428 
Yahoo! Japan Corp. 12,400 51,043 
Yakult Honsha Co. Ltd. 1,000 71,350 
Yamada Denki Co. Ltd. 5,500 28,879 
Yamaguchi Financial Group, Inc. 2,000 25,027 
Yamaha Corp. 1,400 67,746 
Yamaha Motor Co. Ltd. 2,500 80,040 
Yamato Holdings Co. Ltd. 3,500 90,205 
Yamazaki Baking Co. Ltd. 1,100 24,129 
Yaskawa Electric Corp. 2,200 89,956 
Yokogawa Electric Corp. 1,900 41,956 
Yokohama Rubber Co. Ltd. 1,000 23,646 
TOTAL JAPAN  33,148,067 
Korea (South) - 3.6%   
AMOREPACIFIC Corp. 262 85,382 
AMOREPACIFIC Group, Inc. 237 31,646 
BGF Retail Co. Ltd. 68 12,128 
BS Financial Group, Inc. 2,314 22,580 
Celltrion Healthcare Co. Ltd. 294 24,653 
Celltrion, Inc. 771 195,103 
Cheil Industries, Inc. 665 86,934 
Cheil Worldwide, Inc. 580 10,344 
CJ CheilJedang Corp. 77 24,662 
CJ Corp. 134 20,333 
CJ E&M Corp. 147 12,422 
Coway Co. Ltd. 500 40,853 
Daelim Industrial Co. 214 17,185 
Daewoo Engineering & Construction Co. Ltd. (a) 1,328 7,874 
Db Insurance Co. Ltd. 449 26,372 
DGB Financial Group Co. Ltd. 1,304 14,612 
Dong Suh Companies, Inc. 314 8,078 
Doosan Bobcat, Inc. 269 8,189 
Doosan Heavy Industries & Construction Co. Ltd. 462 7,722 
E-Mart Co. Ltd. 184 46,390 
GS Engineering & Construction Corp. 382 14,553 
GS Holdings Corp. 458 26,216 
GS Retail Co. Ltd. 230 7,989 
Hana Financial Group, Inc. 2,885 128,635 
Hankook Tire Co. Ltd. 627 28,952 
Hanmi Pharm Co. Ltd. 53 23,062 
Hanmi Science Co. Ltd. 99 7,192 
Hanon Systems 1,447 14,728 
Hanssem Co. Ltd. 81 8,812 
Hanwha Chemical Corp. 932 25,194 
Hanwha Corp. 348 12,982 
Hanwha Life Insurance Co. Ltd. 2,007 11,676 
Hanwha Techwin Co. Ltd. (a) 295 6,639 
Hotel Shilla Co. 280 30,329 
Hyosung Corp. 190 23,330 
Hyundai Department Store Co. Ltd. 120 11,597 
Hyundai Engineering & Construction Co. Ltd. 648 38,483 
Hyundai Fire & Marine Insurance Co. Ltd. 484 17,287 
Hyundai Glovis Co. Ltd. 167 26,276 
Hyundai Heavy Industries Co. Ltd. (a) 337 37,604 
Hyundai Industrial Development & Construction Co. (c) 548 23,743 
Hyundai Mobis 645 149,366 
Hyundai Motor Co. 1,314 196,316 
Hyundai Robotics Co. Ltd. 83 32,745 
Hyundai Steel Co. 685 38,762 
Hyundai Wia Corp. 115 5,767 
Industrial Bank of Korea 2,284 35,937 
ING Life Insurance Korea Ltd. (b) 254 9,772 
Kakao Corp. 414 42,911 
Kangwon Land, Inc. 1,103 29,766 
KB Financial Group, Inc. 3,778 214,071 
KCC Corp. 45 16,430 
KEPCO Plant Service & Engineering Co. Ltd. 194 9,184 
Kia Motors Corp. 2,797 86,449 
Korea Aerospace Industries Ltd. 569 22,953 
Korea Electric Power Corp. 2,278 79,475 
Korea Express Co. Ltd. (a) 63 9,207 
Korea Gas Corp. (a) 231 11,820 
Korea Investment Holdings Co. Ltd. 342 29,093 
Korea Zinc Co. Ltd. 75 30,359 
Korean Air Lines Co. Ltd. 369 11,767 
KT Corp. sponsored ADR 185 2,485 
KT&G Corp. 1,017 92,875 
Kumho Petro Chemical Co. Ltd. 141 14,154 
LG Chemical Ltd. 381 128,076 
LG Corp. 853 64,597 
LG Display Co. Ltd. 2,139 46,578 
LG Electronics, Inc. 1,031 98,197 
LG Household & Health Care Ltd. 93 118,972 
LG Innotek Co. Ltd. 109 11,858 
Lotte Chemical Corp. 134 51,802 
Lotte Confectionery Co. Ltd. 228 13,860 
Lotte Shopping Co. Ltd. 101 24,144 
Medy-Tox, Inc. 38 24,753 
Mirae Asset Daewoo Co. Ltd. 3,031 27,680 
NAVER Corp. 271 181,185 
NCSOFT Corp. 152 51,096 
Netmarble Corp. (b) 215 29,612 
Oci Co. Ltd. 150 21,850 
Orion Corp./Republic of Korea 196 22,786 
Ottogi Corp. 6,673 
POSCO 700 240,545 
Posco Daewoo Corp. 322 6,780 
S-Oil Corp. 378 38,826 
S1 Corp. 131 12,000 
Samsung Biologics Co. Ltd. (a)(b) 147 66,985 
Samsung Card Co. Ltd. 219 7,628 
Samsung Electro-Mechanics Co. Ltd. 501 55,437 
Samsung Electronics Co. Ltd. 886 2,195,508 
Samsung Fire & Marine Insurance Co. Ltd. 268 66,942 
Samsung Heavy Industries Co. Ltd. (a) 4,399 30,191 
Samsung Life Insurance Co. Ltd. 616 67,299 
Samsung SDI Co. Ltd. 475 81,390 
Samsung SDS Co. Ltd. 301 68,861 
Samsung Securities Co. Ltd. 516 17,876 
Shinhan Financial Group Co. Ltd. 4,127 183,268 
Shinsegae Co. Ltd. 57 22,221 
SillaJen, Inc. (a) 442 34,710 
SK C&C Co. Ltd. 289 79,339 
SK Energy Co. Ltd. 637 116,881 
SK Hynix, Inc. 5,331 420,636 
SK Networks Co. Ltd. 1,087 5,704 
SK Telecom Co. Ltd. 169 36,012 
STX Pan Ocean Co. Ltd. (Korea) (a) 1,705 8,756 
Woori Bank 4,228 63,365 
Woori Investment & Securities Co. Ltd. 1,089 15,863 
Yuhan Corp. 66 14,113 
TOTAL KOREA (SOUTH)  7,281,260 
Luxembourg - 0.2%   
ArcelorMittal SA (Netherlands) 6,228 211,301 
Eurofins Scientific SA 97 52,454 
Millicom International Cellular SA (depository receipt) 575 38,348 
PLAY Communications SA (b) 963 8,132 
RTL Group SA 345 28,434 
SES SA (France) (depositary receipt) 3,086 47,701 
Tenaris SA 4,109 77,008 
TOTAL LUXEMBOURG  463,378 
Malaysia - 0.6%   
AirAsia Group BHD 22,600 22,090 
Alliance Bank Malaysia Bhd 8,700 9,610 
AMMB Holdings Bhd 12,900 12,747 
Astro Malaysia Holdings Bhd (b) 11,700 5,669 
Axiata Group Bhd 23,930 32,125 
British American Tobacco (Malaysia) Bhd 1,200 7,486 
Bumiputra-Commerce Holdings Bhd 40,598 74,026 
Dialog Group Bhd 24,400 19,077 
DiGi.com Bhd 25,800 30,299 
Felda Global Ventures Holdings Bhd (b) 10,900 4,720 
Gamuda Bhd 16,300 21,295 
Genting Bhd 20,100 45,670 
Genting Malaysia Bhd 26,900 35,041 
Genting Plantations Bhd 1,900 4,798 
Hap Seng Consolidated Bhd 5,100 12,696 
Hartalega Holdings Bhd 10,300 15,337 
Hong Leong Bank Bhd 5,700 27,495 
Hong Leong Credit Bhd 1,800 8,891 
IHH Healthcare Bhd (b) 17,600 27,205 
IJM Corp. Bhd 24,800 18,784 
IOI Corp. Bhd 20,000 24,311 
IOI Properties Group Bhd 15,700 6,238 
Kuala Lumpur Kepong Bhd 4,400 28,530 
Malayan Banking Bhd 43,020 117,998 
Malaysia Airports Holdings Bhd 6,500 14,899 
Maxis Bhd 18,000 26,672 
MISC Bhd 12,800 23,254 
Nestle (Malaysia) BHD 500 17,573 
Petronas Chemicals Group Bhd 20,600 44,279 
Petronas Dagangan Bhd 1,900 13,049 
Petronas Gas Bhd 6,600 29,877 
PPB Group Bhd 4,700 23,009 
Press Metal Bhd 10,200 12,451 
Public Bank Bhd 27,600 167,092 
RHB Capital Bhd 6,900 9,283 
SapuraKencana Petroleum Bhd 30,500 4,913 
Sime Darby Bhd 20,300 13,755 
Sime Darby Plantation Bhd 21,800 30,919 
Sime Darby Property Bhd 20,500 7,771 
SP Setia Bhd 11,500 9,316 
Telekom Malaysia Bhd 8,700 11,708 
Tenaga Nasional Bhd 32,300 130,128 
UMW Holdings Bhd (a) 3,700 5,747 
Westports Holdings Bhd 9,100 7,692 
YTL Corp. Bhd 34,500 12,687 
YTL Power International Bhd 20,500 4,790 
TOTAL MALAYSIA  1,233,002 
Malta - 0.0%   
Brait SA 2,839 9,810 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 54,300 14,079 
Mexico - 0.7%   
Alfa SA de CV Series A 28,000 35,947 
America Movil S.A.B. de CV Series L 314,200 290,813 
Banco Santander Mexico SA 16,000 23,715 
CEMEX S.A.B. de CV unit 149,780 93,702 
Coca-Cola FEMSA S.A.B. de CV Series L 4,300 27,919 
Compartamos S.A.B. de CV 7,500 5,995 
El Puerto de Liverpool S.A.B. de CV Class C 1,500 10,008 
Embotelladoras Arca S.A.B. de CV 5,600 38,705 
Fibra Uno Administracion SA de CV 27,200 45,042 
Fomento Economico Mexicano S.A.B. de CV unit 18,700 180,760 
Gruma S.A.B. de CV Series B 1,935 23,634 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 3,100 32,246 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 1,750 31,471 
Grupo Bimbo S.A.B. de CV Series A 14,000 32,586 
Grupo Carso SA de CV Series A1 3,500 12,576 
Grupo Financiero Banorte S.A.B. de CV Series O 22,000 137,656 
Grupo Financiero Inbursa S.A.B. de CV Series O 19,700 32,823 
Grupo Lala S.A.B. de CV 4,900 6,267 
Grupo Mexico SA de CV Series B 33,800 112,359 
Grupo Televisa SA de CV 21,600 77,520 
Industrias Penoles SA de CV 1,345 28,230 
Infraestructura Energetica Nova S.A.B. de CV 4,200 18,489 
Kimberly-Clark de Mexico SA de CV Series A 13,400 24,318 
Mexichem S.A.B. de CV 9,000 28,114 
Promotora y Operadora de Infraestructura S.A.B. de CV 1,765 18,086 
Wal-Mart de Mexico SA de CV Series V 50,100 139,220 
TOTAL MEXICO  1,508,201 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 25,500 23,711 
HKT Trust/HKT Ltd. unit 32,000 42,102 
TOTAL MULTI-NATIONAL  65,813 
Netherlands - 3.1%   
ABN AMRO Group NV GDR 4,103 127,487 
AEGON NV 15,386 113,190 
AerCap Holdings NV (a) 1,241 64,693 
Airbus Group NV 5,282 620,018 
Akzo Nobel NV 2,361 213,551 
Akzo Nobel NV rights (a) 2,361 5,531 
Altice NV:   
Class A (a) 4,044 38,765 
Class B (a) 691 6,613 
ASML Holding NV (Netherlands) 3,528 671,015 
CNH Industrial NV 8,886 109,883 
EXOR NV 925 68,742 
Ferrari NV 1,078 132,848 
Fiat Chrysler Automobiles NV 9,947 223,063 
Heineken Holding NV 989 100,561 
Heineken NV (Bearer) 2,372 250,064 
ING Groep NV (Certificaten Van Aandelen) 35,189 592,953 
Koninklijke Ahold Delhaize NV 11,828 285,741 
Koninklijke Boskalis Westminster NV 821 24,360 
Koninklijke DSM NV 1,730 179,291 
Koninklijke KPN NV 28,836 89,744 
Koninklijke Philips Electronics NV 8,652 366,207 
NN Group NV 2,651 127,061 
NXP Semiconductors NV (a) 3,112 326,449 
QIAGEN NV (Germany) (a) 1,911 62,978 
Randstad NV 1,229 79,223 
RELX NV 9,129 194,191 
Steinhoff International Holdings NV (South Africa) 24,456 3,767 
STMicroelectronics NV (France) 5,512 120,356 
Unilever NV (Certificaten Van Aandelen) (Bearer) 14,771 846,801 
Vopak NV 617 30,474 
Wolters Kluwer NV 2,530 136,966 
TOTAL NETHERLANDS  6,212,586 
New Zealand - 0.1%   
Auckland International Airport Ltd. 8,249 37,030 
Fisher & Paykel Healthcare Corp. 4,761 42,710 
Fletcher Building Ltd. 7,742 34,372 
Mercury Nz Ltd. 6,851 15,377 
Meridian Energy Ltd. 11,944 24,707 
Ryman Healthcare Group Ltd. 3,532 26,342 
Spark New Zealand Ltd. 21,285 51,817 
TOTAL NEW ZEALAND  232,355 
Norway - 0.5%   
DNB ASA 9,318 174,259 
Gjensidige Forsikring ASA 1,725 27,351 
Marine Harvest ASA 3,499 76,175 
Norsk Hydro ASA 11,955 74,670 
Orkla ASA 7,015 65,006 
Schibsted ASA (B Shares) 830 22,348 
Statoil ASA 10,711 273,909 
Telenor ASA 6,550 144,977 
Yara International ASA 1,499 63,344 
TOTAL NORWAY  922,039 
Pakistan - 0.0%   
Habib Bank Ltd. 5,100 8,592 
Lucky Cement Ltd. 1,050 6,007 
MCB Bank Ltd. 2,900 5,241 
Oil & Gas Development Co. Ltd. 7,600 10,964 
United Bank Ltd. 3,500 6,090 
TOTAL PAKISTAN  36,894 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 12,351 72,662 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 1,625 25,919 
Philippines - 0.2%   
Aboitiz Equity Ventures, Inc. 17,030 22,916 
Aboitiz Power Corp. 12,000 8,809 
Alliance Global Group, Inc. (a) 31,700 7,997 
Ayala Corp. 2,280 42,475 
Ayala Land, Inc. 63,200 49,738 
Bank of the Philippine Islands (BPI) 13,580 27,528 
BDO Unibank, Inc. 17,130 43,516 
DMCI Holdings, Inc. 34,200 7,281 
Globe Telecom, Inc. 280 8,349 
GT Capital Holdings, Inc. 805 16,341 
International Container Terminal Services, Inc. 4,330 7,073 
JG Summit Holdings, Inc. 24,010 29,622 
Jollibee Food Corp. 3,880 21,355 
Manila Electric Co. 1,720 10,694 
Megaworld Corp. 96,000 8,343 
Metro Pacific Investments Corp. 108,500 10,688 
Metropolitan Bank & Trust Co. 6,410 10,515 
Philippine Long Distance Telephone Co. 765 21,442 
Robinsons Land Corp. 15,400 5,319 
Security Bank Corp. 1,780 7,179 
SM Investments Corp. 2,070 37,489 
SM Prime Holdings, Inc. 73,900 48,775 
Universal Robina Corp. 7,650 20,793 
TOTAL PHILIPPINES  474,237 
Poland - 0.3%   
Alior Bank SA (a) 836 16,923 
Bank Handlowy w Warszawie SA 256 6,054 
Bank Millennium SA (a) 4,715 11,486 
Bank Polska Kasa Opieki SA 1,386 46,162 
Bank Zachodni WBK SA 288 30,475 
BRE Bank SA 139 17,005 
CD Projekt RED SA 613 21,796 
Cyfrowy Polsat SA 1,683 12,304 
Dino Polska SA (a)(b) 382 10,339 
Grupa Lotos SA 715 11,269 
Jastrzebska Spolka Weglowa SA (a) 405 9,557 
KGHM Polska Miedz SA (Bearer) 1,269 33,856 
LPP SA 11 28,739 
NG2 SA 223 16,456 
Polish Oil & Gas Co. SA 15,057 26,512 
Polska Grupa Energetyczna SA (a) 7,424 22,146 
Polski Koncern Naftowy Orlen SA 2,647 67,648 
Powszechna Kasa Oszczednosci Bank SA (a) 9,338 111,316 
Powszechny Zaklad Ubezpieczen SA 5,289 64,676 
Tauron Polska Energia SA (a) 7,435 4,978 
Telekomunikacja Polska SA (a) 5,430 8,153 
Zaklady Azotowe w Tarnowie-Moscicach SA 344 5,244 
TOTAL POLAND  583,094 
Portugal - 0.1%   
Energias de Portugal SA 24,148 89,700 
Galp Energia SGPS SA Class B 4,473 85,966 
Jeronimo Martins SGPS SA 2,112 37,084 
TOTAL PORTUGAL  212,750 
Qatar - 0.1%   
Barwa Real Estate Co. 719 6,981 
Doha Bank 1,168 8,690 
Ezdan Holding Group (a) 7,135 21,967 
Industries Qatar QSC (a) 1,352 41,589 
Masraf al Rayan 3,443 33,645 
Qatar Electricity & Water Co. 217 11,801 
Qatar Gas Transport Co. Ltd. (Nakilat) 2,192 8,844 
Qatar Insurance Co. SAQ 1,328 13,306 
Qatar Islamic Bank 455 13,373 
Qatar National Bank SAQ 2,029 84,147 
Qatar Telecom (Qtel) Q.S.C. (a) 617 13,421 
The Commercial Bank of Qatar 1,557 15,459 
TOTAL QATAR  273,223 
Russia - 0.8%   
Alrosa Co. Ltd. 23,100 32,871 
Gazprom OAO 74,660 173,014 
Gazprom OAO sponsored ADR (Reg. S) 12,184 56,388 
Inter Rao Ues JSC 288,000 18,294 
Lukoil PJSC 2,830 186,957 
Lukoil PJSC sponsored ADR 1,089 72,745 
Magnit OJSC GDR (Reg. S) 3,128 59,401 
Magnitogorsk Iron & Steel Works PJSC 17,000 13,142 
MMC Norilsk Nickel PJSC 404 69,008 
MMC Norilsk Nickel PJSC sponsored ADR 1,346 23,144 
Mobile TeleSystems OJSC sponsored ADR 4,427 46,484 
Moscow Exchange MICEX-RTS OAO 12,660 24,276 
NOVATEK OAO GDR (Reg. S) 892 113,284 
Novolipetsk Steel OJSC 10,200 26,104 
PhosAgro OJSC GDR (Reg. S) 1,113 16,049 
Polyus PJSC 244 15,479 
Rosneft Oil Co. OJSC 8,100 49,264 
Rosneft Oil Co. OJSC GDR (Reg. S) 2,345 14,290 
RusHydro PJSC 549,000 6,495 
RusHydro PJSC ADR 2,769 3,146 
Sberbank of Russia 98,815 352,226 
Severstal PAO 1,390 22,336 
Severstal PAO GDR (Reg. S) 592 9,454 
Surgutneftegas OJSC 35,200 16,456 
Surgutneftegas OJSC sponsored ADR 2,955 13,883 
Tatneft PAO 11,370 121,161 
Tatneft PAO sponsored ADR 513 33,089 
VTB Bank OJSC (a) 42,400,000 36,339 
TOTAL RUSSIA  1,624,779 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 22,200 44,535 
CapitaCommercial Trust (REIT) 22,800 31,149 
CapitaLand Ltd. 22,400 63,165 
CapitaMall Trust 21,100 33,320 
City Developments Ltd. 3,600 34,210 
ComfortDelgro Corp. Ltd. 19,900 33,587 
DBS Group Holdings Ltd. 16,602 383,043 
Hutchison Port Holdings Trust 42,700 14,236 
Jardine Cycle & Carriage Ltd. 800 20,583 
Keppel Corp. Ltd. 12,800 78,504 
Oversea-Chinese Banking Corp. Ltd. 29,800 307,792 
Sembcorp Industries Ltd. 9,500 21,883 
Singapore Airlines Ltd. 4,700 38,349 
Singapore Airport Terminal Service Ltd. 6,200 25,763 
Singapore Exchange Ltd. 7,200 41,753 
Singapore Press Holdings Ltd. 13,900 28,404 
Singapore Technologies Engineering Ltd. 13,600 35,589 
Singapore Telecommunications Ltd. 79,200 209,492 
StarHub Ltd. 5,100 8,700 
Suntec (REIT) 22,600 33,220 
United Overseas Bank Ltd. 12,803 289,914 
UOL Group Ltd. 4,400 29,060 
Wilmar International Ltd. 13,500 33,027 
Yangzijiang Shipbuilding Holdings Ltd. 19,100 16,679 
TOTAL SINGAPORE  1,855,957 
South Africa - 1.6%   
Anglo American Platinum Ltd. 415 11,137 
AngloGold Ashanti Ltd. 3,353 29,971 
Aspen Pharmacare Holdings Ltd. 3,313 71,434 
Barclays Africa Group Ltd. 6,211 90,974 
Bidcorp Ltd. 2,957 67,976 
Bidvest Group Ltd. 2,972 58,219 
Capitec Bank Holdings Ltd. 355 25,274 
Coronation Fund Managers Ltd. 2,309 13,712 
Discovery Ltd. 3,290 45,681 
Exxaro Resources Ltd. 1,951 17,305 
FirstRand Ltd. 29,338 157,120 
Fortress (REIT) Ltd.:   
Class A 8,672 11,935 
Class B 7,117 9,918 
Foschini Ltd. 2,019 34,738 
Gold Fields Ltd. 7,073 26,853 
Growthpoint Properties Ltd. 37,333 86,371 
Hyprop Investments Ltd. 2,083 19,017 
Imperial Holdings Ltd. 1,315 25,295 
Investec Ltd. 2,167 17,094 
Kumba Iron Ore Ltd. 499 10,660 
Liberty Holdings Ltd. 1,267 13,350 
Life Healthcare Group Holdings Ltd. 11,546 27,217 
MMI Holdings Ltd. 7,304 13,002 
Mondi Ltd. 1,029 30,021 
Mr Price Group Ltd. 2,209 48,474 
MTN Group Ltd. 17,088 171,507 
Naspers Ltd. Class N 4,021 979,594 
Nedbank Group Ltd. 2,069 49,342 
Netcare Ltd. 7,985 19,883 
Novus Holdings Ltd. 58 19 
Pick 'n Pay Stores Ltd. 2,835 18,353 
Pioneer Foods Ltd. 994 9,667 
PSG Group Ltd. 1,166 20,979 
Rand Merchant Insurance Holdings Ltd. 6,499 21,523 
Redefine Properties Ltd. 47,924 46,056 
Remgro Ltd. 4,682 84,293 
Resilient Property Income Fund Ltd. 2,300 12,514 
RMB Holdings Ltd. 6,259 39,258 
Sanlam Ltd. 11,896 75,147 
Sappi Ltd. 4,627 29,528 
Sasol Ltd. 5,396 192,893 
Shoprite Holdings Ltd. 3,743 74,470 
Sibanye-Stillwater 13,927 12,208 
Spar Group Ltd. 1,661 27,923 
Standard Bank Group Ltd. 12,817 219,819 
Telkom SA Ltd. 2,243 10,243 
Tiger Brands Ltd. 1,488 46,505 
Truworths International Ltd. 4,188 34,239 
Vodacom Group Ltd. 5,207 65,097 
Woolworths Holdings Ltd. 9,001 46,257 
TOTAL SOUTH AFRICA  3,270,065 
Spain - 2.2%   
Abertis Infraestructuras SA 5,973 131,709 
ACS Actividades de Construccion y Servicios SA 2,091 88,125 
Aena Sme SA (b) 596 123,146 
Amadeus IT Holding SA Class A 3,995 292,839 
Banco Bilbao Vizcaya Argentaria SA 61,140 494,748 
Banco de Sabadell SA 52,699 103,509 
Banco Santander SA (Spain) 146,167 948,395 
Bankia SA 10,769 47,428 
Bankinter SA 5,734 60,104 
CaixaBank SA 34,453 167,541 
Enagas SA 2,445 71,275 
Endesa SA 2,698 63,109 
Ferrovial SA 4,211 90,186 
Gamesa Corporacion Tecnologica SA 2,158 37,175 
Gas Natural SDG SA 3,054 77,116 
Grifols SA 2,597 73,229 
Iberdrola SA 52,640 407,853 
Inditex SA 9,963 310,167 
International Consolidated Airlines Group SA 4,580 39,667 
International Consolidated Airlines Group SA CDI 828 7,184 
MAPFRE SA (Reg.) 9,676 33,699 
Red Electrica Corporacion SA 3,872 80,655 
Repsol SA 11,781 225,494 
Telefonica SA 42,868 436,846 
TOTAL SPAIN  4,411,199 
Sweden - 1.7%   
Alfa Laval AB 2,412 59,965 
ASSA ABLOY AB (B Shares) 9,431 198,385 
Atlas Copco AB:   
(A Shares) 6,315 248,153 
(B Shares) 3,313 118,156 
Boliden AB 2,853 99,307 
Electrolux AB (B Shares) 2,091 55,232 
Essity AB Class B 5,306 135,125 
Getinge AB (B Shares) 1,993 18,586 
H&M Hennes & Mauritz AB (B Shares) 8,297 142,579 
Hexagon AB (B Shares) 2,466 143,060 
Husqvarna AB (B Shares) 3,659 35,284 
ICA Gruppen AB 712 22,157 
Industrivarden AB (C Shares) 1,447 30,595 
Investor AB (B Shares) 4,273 186,942 
Kinnevik AB (B Shares) 1,984 71,846 
Lundbergfoeretagen AB 347 23,578 
Lundin Petroleum AB 1,585 43,839 
Nordea Bank AB 27,863 284,400 
Sandvik AB 10,601 181,593 
Securitas AB (B Shares) 2,942 47,708 
Skandinaviska Enskilda Banken AB (A Shares) 13,261 124,937 
Skanska AB (B Shares) 2,877 56,281 
SKF AB (B Shares) 3,157 64,192 
Svenska Handelsbanken AB (A Shares) 14,594 162,756 
Swedbank AB (A Shares) 8,557 186,596 
Swedish Match Co. AB 1,518 68,301 
Tele2 AB (B Shares) 3,113 40,527 
Telefonaktiebolaget LM Ericsson (B Shares) 28,659 218,481 
TeliaSonera AB 24,278 119,717 
Volvo AB (B Shares) 14,310 243,821 
TOTAL SWEDEN  3,432,099 
Switzerland - 5.1%   
ABB Ltd. (Reg.) 17,059 397,740 
Adecco SA (Reg.) 1,412 93,953 
Baloise Holdings AG 420 66,836 
Barry Callebaut AG 19 34,261 
Clariant AG (Reg.) 2,027 47,065 
Coca-Cola HBC AG 1,558 52,421 
Compagnie Financiere Richemont SA Series A 4,777 454,096 
Credit Suisse Group AG 22,422 378,175 
Dufry AG 312 44,344 
Ems-Chemie Holding AG 70 43,441 
Galenica AG 426 67,597 
Geberit AG (Reg.) 358 153,387 
Givaudan SA 88 197,045 
Julius Baer Group Ltd. 2,316 137,451 
Kuehne & Nagel International AG 462 72,260 
Lafargeholcim Ltd. (Reg.) 4,247 237,249 
Lindt & Spruengli AG 76,085 
Lindt & Spruengli AG (participation certificate) 57,941 
Lonza Group AG 656 161,650 
Nestle SA (Reg. S) 28,083 2,175,593 
Novartis AG 20,257 1,559,269 
Pargesa Holding SA 405 38,068 
Partners Group Holding AG 168 123,160 
Roche Holding AG (participation certificate) 6,379 1,417,334 
Schindler Holding AG:   
(participation certificate) 412 85,476 
(Reg.) 178 35,762 
SGS SA (Reg.) 55 134,142 
Sika AG 22 160,505 
Sonova Holding AG Class B 455 75,390 
Straumann Holding AG 86 58,794 
Swatch Group AG (Bearer) 300 144,854 
Swatch Group AG (Bearer) (Reg.) 481 43,028 
Swiss Life Holding AG 328 115,346 
Swiss Prime Site AG 630 59,154 
Swiss Re Ltd. 2,874 274,524 
Swisscom AG 228 109,744 
UBS Group AG 33,477 566,508 
Zurich Insurance Group AG 1,366 436,349 
TOTAL SWITZERLAND  10,385,997 
Taiwan - 2.7%   
Acer, Inc. 23,000 17,510 
Advantech Co. Ltd. 3,000 20,559 
ASE Industrial Holding Co. Ltd. 29,500 79,444 
Asia Cement Corp. 18,000 19,175 
Asia Pacific Telecom Co. Ltd. (a) 17,000 5,032 
ASUSTeK Computer, Inc. 7,000 65,304 
AU Optronics Corp. 77,000 31,695 
Catcher Technology Co. Ltd. 6,000 66,423 
Cathay Financial Holding Co. Ltd. 72,000 128,922 
Chang Hwa Commercial Bank 52,000 29,880 
Cheng Shin Rubber Industry Co. Ltd. 19,000 30,583 
Chicony Electronics Co. Ltd. 4,000 9,837 
China Airlines Ltd. (a) 23,000 8,375 
China Development Finance Holding Corp. 115,000 43,404 
China Life Insurance Co. Ltd. 24,270 26,249 
China Steel Corp. 130,000 102,688 
Chinatrust Financial Holding Co. Ltd. 151,000 107,497 
Chunghwa Telecom Co. Ltd. 33,000 125,345 
Compal Electronics, Inc. 32,000 20,806 
Delta Electronics, Inc. 20,000 72,382 
E.SUN Financial Holdings Co. Ltd. 79,518 56,132 
ECLAT Textile Co. Ltd. 2,000 24,086 
EVA Airways Corp. 18,000 9,649 
Evergreen Marine Corp. (Taiwan) (a) 17,000 8,584 
Far Eastern Textile Ltd. 25,000 23,819 
Far EasTone Telecommunications Co. Ltd. 14,000 36,975 
Feng Tay Enterprise Co. Ltd. 3,000 13,580 
First Financial Holding Co. Ltd. 82,120 56,358 
Formosa Chemicals & Fibre Corp. 29,000 106,362 
Formosa Petrochemical Corp. 11,000 44,804 
Formosa Plastics Corp. 36,000 126,109 
Formosa Taffeta Co. Ltd. 6,000 6,772 
Foxconn Technology Co. Ltd. 7,000 17,349 
Fubon Financial Holding Co. Ltd. 66,000 112,717 
Giant Manufacturing Co. Ltd. 2,000 10,139 
GlobalWafers Co. Ltd. 2,000 32,208 
Highwealth Construction Corp. 7,000 10,758 
HIWIN Technologies Corp. 2,000 30,074 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 144,000 399,810 
Hotai Motor Co. Ltd. 4,000 39,138 
HTC Corp. (a) 5,000 10,119 
Hua Nan Financial Holdings Co. Ltd. 61,250 36,974 
Innolux Corp. 80,000 29,717 
Inventec Corp. 19,000 14,370 
Largan Precision Co. Ltd. 1,000 116,102 
Lite-On Technology Corp. 18,000 23,711 
Macronix International Co. Ltd. (a) 16,000 25,373 
MediaTek, Inc. 14,000 158,948 
Mega Financial Holding Co. Ltd. 94,000 82,837 
Micro-Star International Co. Ltd. 5,000 15,588 
Nan Ya Plastics Corp. 41,000 112,100 
Nanya Technology Corp. 9,000 27,966 
Nien Made Enterprise Co. Ltd. 1,000 8,867 
Novatek Microelectronics Corp. 5,000 20,950 
Pegatron Corp. 17,000 39,565 
Phison Electronics Corp. 1,000 9,037 
Pou Chen Corp. 19,000 23,719 
Powertech Technology, Inc. 6,000 17,145 
President Chain Store Corp. 6,000 58,872 
Quanta Computer, Inc. 25,000 45,373 
Realtek Semiconductor Corp. 3,000 11,325 
Ruentex Development Co. Ltd. 7,000 8,367 
Ruentex Industries Ltd. 5,000 9,671 
Shin Kong Financial Holding Co. Ltd. 71,000 28,805 
Sinopac Holdings Co. 105,000 37,719 
Standard Foods Corp. 7,000 15,671 
Synnex Technology International Corp. 11,000 15,770 
TaiMed Biologics, Inc. (a) 1,000 10,376 
Taishin Financial Holdings Co. Ltd. 80,257 38,929 
Taiwan Business Bank 29,000 8,896 
Taiwan Cement Corp. 34,000 46,641 
Taiwan Cooperative Financial Holding Co. Ltd. 68,180 39,547 
Taiwan High Speed Rail Corp. 13,000 9,968 
Taiwan Mobile Co. Ltd. 14,000 51,609 
Taiwan Semiconductor Manufacturing Co. Ltd. 223,000 1,695,659 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 202 7,767 
TECO Electric & Machinery Co. Ltd. 15,000 12,153 
Unified-President Enterprises Corp. 48,000 115,315 
United Microelectronics Corp. 106,000 57,062 
Vanguard International Semiconductor Corp. 7,000 14,164 
Win Semiconductors Corp. 3,000 22,455 
Winbond Electronics Corp. 23,000 14,052 
Wistron Corp. 20,000 15,876 
WPG Holding Co. Ltd. 15,000 20,149 
Yageo Corp. 2,000 41,848 
Yuanta Financial Holding Co. Ltd. 93,000 44,306 
TOTAL TAIWAN  5,447,966 
Thailand - 0.6%   
Advanced Info Service PCL 2,300 15,139 
Advanced Info Service PCL (For. Reg.) 8,800 57,922 
Airports of Thailand PCL (For. Reg.) 36,200 81,427 
Bangkok Bank PCL (For. Reg.) 2,300 14,652 
Bangkok Dusit Medical Services PCL (For. Reg.) 34,800 24,782 
Bangkok Expressway and Metro PCL 69,900 17,125 
Banpu PCL (For. Reg.) 15,900 9,705 
Berli Jucker PCL (For. Reg) 10,900 20,572 
BTS Group Holdings PCL 57,300 16,147 
Bumrungrad Hospital PCL (For. Reg.) 3,300 19,806 
C.P. ALL PCL 5,500 15,128 
C.P. ALL PCL (For. Reg.) 42,600 117,171 
Central Pattana PCL (For. Reg.) 11,300 28,827 
Charoen Pokphand Foods PCL (For. Reg.) 28,100 21,681 
Delta Electronics PCL (For. Reg.) 4,400 9,363 
Electricity Generating PCL (For. Reg.) 1,000 7,048 
Energy Absolute PCL 8,700 9,835 
Glow Energy PCL (For. Reg.) 4,000 10,893 
Home Product Center PCL (For. Reg.) 30,400 14,378 
Indorama Ventures PCL (For. Reg.) 13,900 26,374 
IRPC PCL (For. Reg.) 77,600 17,263 
Kasikornbank PCL 9,400 59,578 
Kasikornbank PCL (For. Reg.) 9,000 57,043 
KCE Electronics PCL 2,300 4,977 
Krung Thai Bank PCL (For. Reg.) 33,300 19,123 
Minor International PCL (For. Reg.) 20,000 25,399 
PTT Exploration and Production PCL (For. Reg.) 12,500 52,955 
PTT Global Chemical PCL (For. Reg.) 19,500 60,248 
PTT PCL (For. Reg.) 91,000 161,883 
Robinsons Department Store PCL (For. Reg.) 4,500 9,353 
Siam Cement PCL 1,000 14,787 
Siam Cement PCL (For. Reg.) 3,500 51,755 
Siam Commercial Bank PCL (For. Reg.) 15,800 65,425 
Thai Oil PCL (For. Reg.) 9,600 28,570 
Thai Union Frozen Products PCL (For. Reg.) 15,300 8,701 
TMB PCL (For. Reg.) 84,800 6,315 
True Corp. PCL (For. Reg.) 76,800 18,470 
TOTAL THAILAND  1,199,820 
Turkey - 0.2%   
Akbank T.A.S. 20,003 41,660 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 1,613 10,578 
Arcelik A/S 2,523 11,230 
Aselsan A/S 1,550 9,616 
Bim Birlesik Magazalar A/S JSC 1,882 31,945 
Coca-Cola Icecek Sanayi A/S 601 5,317 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 15,425 9,227 
Eregli Demir ve Celik Fabrikalari T.A.S. 13,079 32,713 
Ford Otomotiv Sanayi A/S 599 8,280 
Haci Omer Sabanci Holding A/S 7,564 17,913 
Koc Holding A/S 6,568 22,184 
Petkim Petrokimya Holding A/S 6,218 10,991 
TAV Havalimanlari Holding A/S 1,254 6,724 
Tofas Turk Otomobil Fabrikasi A/S 959 5,907 
Tupras Turkiye Petrol Rafinerileri A/S 1,034 26,346 
Turk Hava Yollari AO (a) 4,929 20,276 
Turk Sise ve Cam Fabrikalari A/S 5,790 6,428 
Turk Telekomunikasyon (a) 3,973 6,142 
Turkcell Iletisim Hizmet A/S 9,956 34,215 
Turkiye Garanti Bankasi A/S 20,602 46,711 
Turkiye Halk Bankasi A/S 4,804 9,780 
Turkiye Is Bankasi A/S Series C 13,111 19,882 
Turkiye Vakiflar Bankasi TAO 5,954 8,750 
Ulker Biskuvi Sanayi A/S 1,181 6,193 
Yapi ve Kredi Bankasi A/S (a) 6,624 6,490 
TOTAL TURKEY  415,498 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 17,224 32,965 
Aldar Properties PJSC 50,868 29,082 
Damac Properties Dubai Co. PJSC (a) 13,924 10,500 
DP World Ltd. 1,482 32,975 
Dubai Investments Ltd. 12,562 6,498 
Dubai Islamic Bank Pakistan Ltd. 11,067 16,571 
Dubai Parks and Resorts PJSC (a) 20,704 2,176 
Emaar Malls Group PJSC (a) 14,901 9,006 
Emaar Properties PJSC 31,210 49,196 
Emirates Telecommunications Corp. 15,127 70,628 
National Bank of Abu Dhabi PJSC 12,411 41,898 
TOTAL UNITED ARAB EMIRATES  301,495 
United Kingdom - 11.1%   
3i Group PLC 9,423 122,150 
Admiral Group PLC 1,700 46,644 
Anglo American PLC (United Kingdom) 12,395 291,695 
Antofagasta PLC 3,371 45,128 
Ashtead Group PLC 4,808 134,568 
Associated British Foods PLC 3,090 115,028 
AstraZeneca PLC (United Kingdom) 11,590 811,328 
Auto Trader Group PLC (b) 8,217 39,927 
Aviva PLC 36,540 265,488 
Babcock International Group PLC 2,357 23,876 
BAE Systems PLC 29,383 246,530 
Barclays PLC 155,430 443,147 
Barratt Developments PLC 8,798 67,586 
Berkeley Group Holdings PLC 1,143 64,076 
BHP Billiton PLC 19,571 417,301 
BP PLC 178,879 1,328,707 
BP PLC sponsored ADR 219 9,765 
British American Tobacco PLC (United Kingdom) 20,918 1,147,300 
British Land Co. PLC 8,222 76,110 
BT Group PLC 78,143 268,213 
Bunzl PLC 2,938 85,385 
Burberry Group PLC 3,676 92,283 
Capita Group PLC 5,367 14,153 
Carnival PLC 1,624 105,552 
Centrica PLC 48,505 102,703 
Cobham PLC (a) 20,400 32,325 
Coca-Cola European Partners PLC 1,951 76,479 
Compass Group PLC 14,504 311,495 
ConvaTec Group PLC (b) 11,280 33,729 
Croda International PLC 1,160 71,241 
Diageo PLC 22,508 802,966 
Direct Line Insurance Group PLC 11,724 60,414 
easyJet PLC 1,361 29,792 
Fresnillo PLC 1,894 33,245 
G4S PLC (United Kingdom) 13,619 48,542 
GKN PLC 14,700 93,340 
GlaxoSmithKline PLC 44,984 902,252 
Hammerson PLC 7,069 53,428 
Hargreaves Lansdown PLC 2,242 55,234 
HSBC Holdings PLC (United Kingdom) 180,832 1,800,360 
IMI PLC 2,328 34,998 
Imperial Tobacco Group PLC 9,039 324,104 
InterContinental Hotel Group PLC 1,567 98,998 
Intertek Group PLC 1,400 94,461 
Investec PLC 5,762 45,803 
ITV PLC 32,730 68,333 
J Sainsbury PLC 14,042 59,735 
John Wood Group PLC 6,015 47,085 
Johnson Matthey PLC 1,721 78,045 
Kingfisher PLC 18,203 75,914 
Land Securities Group PLC 6,497 88,407 
Legal & General Group PLC 55,108 204,841 
Lloyds Banking Group PLC 647,469 574,271 
London Stock Exchange Group PLC 2,726 161,374 
Marks & Spencer Group PLC 14,052 55,562 
Mediclinic International PLC 603 5,597 
Mediclinic International PLC 2,642 24,406 
Meggitt PLC 8,662 56,334 
Melrose Industries PLC 21,923 68,814 
Merlin Entertainments PLC (b) 6,181 31,298 
Micro Focus International PLC 3,674 63,351 
Mondi PLC 3,224 89,924 
National Grid PLC 30,898 358,504 
Next PLC 1,297 93,850 
Old Mutual PLC 43,109 149,320 
Pearson PLC 8,258 94,675 
Persimmon PLC 3,074 114,898 
Prudential PLC 23,465 603,380 
Reckitt Benckiser Group PLC 6,127 480,651 
RELX PLC 10,061 215,313 
Rio Tinto PLC 11,118 605,997 
Rolls-Royce Holdings PLC 15,646 180,935 
Royal Bank of Scotland Group PLC (a) 34,117 126,342 
Royal Dutch Shell PLC:   
Class A 582 20,366 
Class A (United Kingdom) 40,534 1,410,227 
Class A sponsored ADR 115 8,039 
Class B (United Kingdom) 34,106 1,217,545 
Royal Mail PLC 7,959 63,683 
RSA Insurance Group PLC 8,746 79,155 
Sage Group PLC 9,445 82,595 
Schroders PLC 1,056 47,990 
Scottish & Southern Energy PLC 9,671 183,542 
Segro PLC 8,577 76,303 
Severn Trent PLC 2,020 53,950 
SKY PLC 9,819 186,276 
Smith & Nephew PLC 8,428 161,405 
Smiths Group PLC 4,209 92,568 
St. James's Place Capital PLC 4,599 71,957 
Standard Chartered PLC (United Kingdom) 30,336 320,327 
Standard Life PLC 26,040 130,957 
Taylor Wimpey PLC 28,218 74,491 
Tesco PLC 89,278 289,166 
The Weir Group PLC 2,449 72,016 
Travis Perkins PLC 2,085 36,426 
Unilever PLC 11,197 628,063 
United Utilities Group PLC 7,201 73,678 
Vodafone Group PLC 241,332 704,259 
Vodafone Group PLC sponsored ADR 110 3,235 
Whitbread PLC 1,617 95,300 
WM Morrison Supermarkets PLC 23,406 78,334 
TOTAL UNITED KINGDOM  22,406,858 
United States of America - 0.1%   
Southern Copper Corp. 767 40,505 
Yum China Holdings, Inc. 3,805 162,702 
TOTAL UNITED STATES OF AMERICA  203,207 
TOTAL COMMON STOCKS   
(Cost $195,450,138)  195,454,444 
Nonconvertible Preferred Stocks - 1.4%   
Brazil - 0.7%   
Banco Bradesco SA (PN) 32,092 316,688 
Braskem SA (PN-A) 1,500 19,546 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 1,700 11,064 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 1,300 29,216 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 7,800 18,836 
Gerdau SA 9,100 43,250 
Itau Unibanco Holding SA 30,800 448,478 
Itausa-Investimentos Itau SA (PN) 35,100 136,364 
Lojas Americanas SA (PN) 6,100 34,738 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (a) 35,300 231,457 
Telefonica Brasil SA 3,900 54,706 
TOTAL BRAZIL  1,344,343 
Chile - 0.0%   
Embotelladora Andina SA Class B 2,064 10,263 
Sociedad Quimica y Minera de Chile SA (PN-B) 819 44,733 
TOTAL CHILE  54,996 
Colombia - 0.1%   
Bancolombia SA (PN) 5,401 64,029 
Grupo Aval Acciones y Valores SA 27,156 11,940 
Grupo de Inversiones Suramerica SA (a) 1,181 15,346 
TOTAL COLOMBIA  91,315 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 513 49,684 
Fuchs Petrolub AG 610 32,810 
Henkel AG & Co. KGaA 1,674 213,068 
Porsche Automobil Holding SE (Germany) 1,324 113,199 
Volkswagen AG 1,694 351,529 
TOTAL GERMANY  760,290 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 54,115 46,594 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 112 18,668 
Hyundai Motor Co. 216 20,775 
Hyundai Motor Co. Series 2 539 57,880 
LG Chemical Ltd. 204 39,241 
LG Household & Health Care Ltd. 20 14,380 
Samsung Electronics Co. Ltd. 154 303,996 
TOTAL KOREA (SOUTH)  454,940 
Russia - 0.0%   
AK Transneft OAO 10,954 
Surgutneftegas OJSC 57,100 28,100 
TOTAL RUSSIA  39,054 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (a) 1,021,477 1,406 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $2,770,685)  2,792,938 
Money Market Funds - 2.5%   
Fidelity Cash Central Fund, 1.74% (d)   
(Cost $5,172,290) 5,171,256 5,172,290 
TOTAL INVESTMENT IN SECURITIES - 100.3%   
(Cost $203,393,113)  203,419,672 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (587,539) 
NET ASSETS - 100%  $202,832,133 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 32 June 2018 $3,242,400 $(1,010) $(1,010) 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 19 June 2018 1,094,590 (3,850) (3,850) 
TME S&P/TSX 60 Index Contracts (Canada) June 2018 286,584 7,096 7,096 
TOTAL FUTURES CONTRACTS     $2,236 

The notional amount of futures purchased as a percentage of Net Assets is 2.2%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $884,351.

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

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,081,365 or 0.5% of net assets.

 (c) Level 3 security

 (d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.


Affiliated Central Funds

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 $9,948 
Total $9,948 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $22,596,939 $13,745,505 $8,851,434 $-- 
Consumer Staples 18,529,515 8,885,819 9,643,696 -- 
Energy 14,121,240 5,476,318 8,644,922 -- 
Financials 45,870,735 20,676,870 25,193,865 -- 
Health Care 15,067,327 4,378,426 10,688,901 -- 
Industrials 23,311,278 16,117,606 7,169,929 23,743 
Information Technology 22,802,490 12,631,715 10,158,121 12,654 
Materials 16,024,987 9,303,572 6,721,415 -- 
Real Estate 6,351,949 2,632,609 3,719,340 -- 
Telecommunication Services 7,847,198 1,635,138 6,212,060 -- 
Utilities 5,723,724 3,369,800 2,353,924 -- 
Money Market Funds 5,172,290 5,172,290 -- -- 
Total Investments in Securities: $203,419,672 $104,025,668 $99,357,607 $36,397 
Derivative Instruments:     
Assets     
Futures Contracts $7,096 $7,096 $-- $-- 
Total Assets $7,096 $7,096 $-- $-- 
Liabilities     
Futures Contracts $(4,860) $(4,860) $-- $-- 
Total Liabilities $(4,860) $(4,860) $-- $-- 
Total Derivative Instruments: $2,236 $2,236 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $1,382,761 
Level 2 to Level 1 $1,072,480 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $7,096 $(4,860) 
Total Equity Risk 7,096 (4,860) 
Total Value of Derivatives $7,096 $(4,860) 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $198,220,823) 
$198,247,382  
Fidelity Central Funds (cost $5,172,290) 5,172,290  
Total Investment in Securities (cost $203,393,113)  $203,419,672 
Segregated cash with brokers for derivative instruments  485,041 
Foreign currency held at value (cost $709,969)  703,001 
Receivable for investments sold   
Regular delivery  47,143 
Delayed delivery  3,185 
Receivable for fund shares sold  910,742 
Dividends receivable  273,166 
Distributions receivable from Fidelity Central Funds  7,336 
Total assets  205,849,286 
Liabilities   
Payable for investments purchased $2,672,831  
Payable for fund shares redeemed 277,906  
Payable for daily variation margin on futures contracts 19,924  
Other payables and accrued expenses 46,492  
Total liabilities  3,017,153 
Net Assets  $202,832,133 
Net Assets consist of:   
Paid in capital  $202,362,073 
Undistributed net investment income  509,248 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (39,182) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  (6) 
Net Assets, for 16,993,770 shares outstanding  $202,832,133 
Net Asset Value, offering price and redemption price per share ($202,832,133 ÷ 16,993,770 shares)  $11.94 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $594,019 
Interest  201 
Income from Fidelity Central Funds  9,948 
Income before foreign taxes withheld  604,168 
Less foreign taxes withheld  (71,222) 
Total income  532,946 
Expenses   
Independent trustees' fees and expenses $17  
Miscellaneous 12  
Total expenses  29 
Net investment income (loss)  532,917 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $16) 49,262  
Foreign currency transactions (17,615)  
Futures contracts (57,158)  
Total net realized gain (loss)  (25,511) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $19,365) (488,740)  
Assets and liabilities in foreign currencies (9,181)  
Futures contracts 1,408  
Total change in net unrealized appreciation (depreciation)  (496,513) 
Net gain (loss)  (522,024) 
Net increase (decrease) in net assets resulting from operations  $10,893 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) For the period
March 9, 2017 (commencement of operations) to October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $532,917 $72,820 
Net realized gain (loss) (25,511) 19,778 
Change in net unrealized appreciation (depreciation) (496,513) 496,507 
Net increase (decrease) in net assets resulting from operations 10,893 589,105 
Distributions to shareholders from net investment income (96,489) – 
Distributions to shareholders from net realized gain (33,449) – 
Total distributions (129,938) – 
Share transactions   
Proceeds from sales of shares 200,809,661 8,252,553 
Reinvestment of distributions 129,938 – 
Cost of shares redeemed (5,980,985) (849,094) 
Net increase (decrease) in net assets resulting from share transactions 194,958,614 7,403,459 
Total increase (decrease) in net assets 194,839,569 7,992,564 
Net Assets   
Beginning of period 7,992,564 – 
End of period $202,832,133 $7,992,564 
Other Information   
Undistributed net investment income end of period $509,248 $72,820 
Shares   
Sold 16,804,045 751,698 
Issued in reinvestment of distributions 11,202 – 
Redeemed (499,407) (73,768) 
Net increase (decrease) 16,315,840 677,930 

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


Financial Highlights

Fidelity Flex International Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31, 
 2018 2017 A 
Selected Per–Share Data   
Net asset value, beginning of period $11.79 $10.00 
Income from Investment Operations   
Net investment income (loss)B .23 .19 
Net realized and unrealized gain (loss) .12 1.60 
Total from investment operations .35 1.79 
Distributions from net investment income (.15) – 
Distributions from net realized gain (.05) – 
Total distributions (.20) – 
Net asset value, end of period $11.94 $11.79 
Total ReturnC 3.04% 17.90% 
Ratios to Average Net AssetsD,E   
Expenses before reductions - %F - %F 
Expenses net of fee waivers, if any - %F - %F 
Expenses net of all reductions - %F - %F 
Net investment income (loss) 4.01%F 2.64%F 
Supplemental Data   
Net assets, end of period (000 omitted) $202,832 $7,993 
Portfolio turnover rateG 14%F,H 18%F 

 A For the period March 9, 2017 (commencement of operations) to October 31, 2017.

 B Calculated based on average shares outstanding during the period.

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

 D 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.

 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 Annualized

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

 H Portfolio turnover rate excludes securities received or delivered in-kind.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity Flex International Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund is available only to certain fee-based accounts offered by Fidelity. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

2. Investments in Fidelity Central Funds.

The Fund may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The 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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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. 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2018, including information on transfers between Levels 1 and 2, 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.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

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. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

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

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $3,786,355 
Gross unrealized depreciation (3,744,537) 
Net unrealized appreciation (depreciation) $41,818 
Tax cost $203,380,090 

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. 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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, aggregated $38,748,810 and $997,147, 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 and the Fund does not pay any fees for these services. Under the management contract, the investment adviser or an affiliate pays all other expenses of the Fund, excluding fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.

Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

Exchanges In-Kind. During the period, an affiliated entity completed an exchange in-kind with the Fund. The affiliated entity delivered investments and cash valued at $181,394,706 in exchange for 15,179,473 shares of the Fund. The amount of in-kind exchanges is included in share transactions in the accompanying Statement of Changes in Net Assets. The Fund recognized no gain or loss for federal income tax purposes.

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 $12 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. 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.

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, and (2) ongoing costs, including 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 (November 1, 2017 to April 30, 2018).

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.

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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Actual - %-C $1,000.00 $1,030.40 $--D 
Hypothetical-E  $1,000.00 $1,024.79 $--D 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

 C Amount represents less than .005%.

 D Amount represents less than $.005.

 E 5% return per year before expenses






Fidelity Investments

Corporate Headquarters

245 Summer St.

Boston, MA 02210

www.fidelity.com

ZEI-SANN-0618
1.9881634.101


Fidelity® Total International Index Fund
Investor Class and Premium Class



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 1.1 
Nestle SA (Reg. S) (Switzerland, Food Products) 0.9 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 0.9 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 0.8 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.8 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 0.7 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
Novartis AG (Switzerland, Pharmaceuticals) 0.7 
Toyota Motor Corp. (Japan, Automobiles) 0.7 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.6 
 7.9 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 24.0 
Industrials 12.7 
Consumer Discretionary 11.9 
Information Technology 10.6 
Consumer Staples 8.7 
Materials 8.0 
Health Care 7.1 
Energy 6.8 
Real Estate 4.1 
Telecommunication Services 3.5 

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 17.3% 
   United Kingdom 11.2% 
   France 6.4% 
   Germany 6.3% 
   Canada 6.2% 
   Switzerland 4.9% 
   Australia 4.4% 
   Cayman Islands 4.3% 
   Korea (South) 3.9% 
   Other* 35.1% 


 * 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.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 
Short-Term Investments and Net Other Assets (Liabilities) 0.0 

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.7%   
 Shares Value 
Australia - 4.4%   
360 Capital Industrial Fund 999 $1,886 
Abacus Property Group unit 2,727 7,399 
Accent Group Ltd. 1,212 1,139 
Adelaide Brighton Ltd. 18,053 87,099 
AGL Energy Ltd. 26,910 438,564 
ALS Ltd. 25,714 150,066 
Altium Ltd. 5,371 81,566 
Alumina Ltd. 108,717 213,996 
Amcor Ltd. 48,431 499,080 
AMP Ltd. 118,062 357,394 
Ansell Ltd. 5,788 113,086 
APA Group unit 44,385 277,859 
APN News & Media Ltd. 14,469 25,429 
APN Outdoor Group Ltd. 16,583 67,908 
ARB Corp. Ltd. 8,281 129,165 
Ardent Leisure Group unit 13,116 18,571 
Aristocrat Leisure Ltd. 23,540 472,226 
Asaleo Care Ltd. 2,008 1,953 
ASX Ltd. 7,313 321,500 
Aurizon Holdings Ltd. 92,761 312,163 
Austal Ltd. 24,631 32,680 
Australia & New Zealand Banking Group Ltd. 120,015 2,412,566 
Australian Agricultural Co. Ltd. (a) 4,710 3,886 
Australian Pharmaceutical Industries Ltd. 4,913 4,989 
Automotive Holdings Group Ltd. 2,148 5,439 
Babcock & Brown Wind Partners (a) 22,022 11,412 
Bank of Queensland Ltd. 19,792 149,119 
Bapcor Ltd. 5,594 24,681 
Beach Energy Ltd. 66,766 78,744 
Bega Cheese Ltd. 7,332 39,077 
Bellamy's Australia Ltd. (a) 3,737 50,624 
Bendigo & Adelaide Bank Ltd. 22,123 176,082 
BHP Billiton Ltd. 132,376 3,088,233 
Blackmores Ltd. 648 57,358 
BlueScope Steel Ltd. 23,992 294,849 
Boral Ltd. 49,588 255,194 
Brambles Ltd. 64,254 475,427 
Breville Group Ltd. 3,281 28,003 
Brickworks Ltd. 3,884 46,578 
BT Investment Management Ltd. 5,921 40,678 
BWP Trust 13,548 31,843 
Caltex Australia Ltd. 12,533 291,452 
Carsales.com Ltd. 13,044 140,006 
Challenger Ltd. 23,687 191,509 
Charter Hall Group unit 16,947 75,004 
Charter Hall Long Wale REIT unit 5,867 18,011 
Charter Hall Retail REIT 4,482 13,282 
Cimic Group Ltd. 4,172 141,968 
Coca-Cola Amatil Ltd. 26,226 183,061 
Cochlear Ltd. 2,135 310,706 
Commonwealth Bank of Australia 72,300 3,892,952 
Computershare Ltd. 17,729 225,540 
Corporate Travel Management Ltd. 2,449 45,597 
Costa Group Holdings Ltd. 19,396 105,723 
Credit Corp. Group Ltd. 3,751 50,474 
Cromwell Property Group unit 19,567 15,926 
Crown Ltd. 17,418 169,058 
CSL Ltd. 18,746 2,401,157 
CSR Ltd. 34,399 145,143 
DEXUS Property Group unit 47,871 340,437 
Domain Holdings Australia Ltd. 4,825 11,187 
Dominos Pizza Enterprises Ltd. 2,092 66,227 
Downer EDI Ltd. 30,890 158,984 
DuluxGroup Ltd. 11,077 64,403 
Eclipx Group Ltd. 20,177 49,148 
Estia Health Ltd. 5,345 14,245 
Evolution Mining Ltd. 57,818 138,211 
FKP Property Group unit 11,567 22,717 
Flexigroup Ltd. 24,844 38,414 
Flight Centre Travel Group Ltd. 2,726 114,197 
Folkestone Education Trust 954 2,052 
Fortescue Metals Group Ltd. 65,343 221,700 
G8 Education Ltd. 15,862 26,947 
Galaxy Resources Ltd. (a)(b) 17,639 40,001 
Gateway Lifestyle Holdings Pty Ltd. unit 11,967 17,852 
GDI Property Group unit 5,098 4,792 
Genworth Mortgage Insurance Ltd. 21,812 37,984 
Goodman Group unit 71,312 485,174 
GrainCorp Ltd. 13,794 91,785 
Greencross Ltd. 445 1,774 
Growthpoint Properties Australia Ltd. 1,348 3,480 
GUD Holdings Ltd. 1,514 14,383 
GWA Group Ltd. 15,587 45,002 
Hansen Technologies Ltd. 12,222 39,385 
Harvey Norman Holdings Ltd. 35,366 93,224 
Healthscope Ltd. 87,675 159,738 
IDP Education Ltd. 4,639 26,661 
Iluka Resources Ltd. 23,622 207,375 
Incitec Pivot Ltd. 72,390 206,002 
Independence Group NL 28,450 109,448 
Inghams Group Ltd. 8,510 24,011 
Insurance Australia Group Ltd. 95,199 563,570 
Investa Office Fund unit 33,490 110,314 
Invocare Ltd. 6,597 64,473 
IOOF Holdings Ltd. 8,929 59,965 
IPH Ltd. 12,190 33,429 
Iress Ltd. 12,570 98,609 
Japara Healthcare Ltd. 589 841 
JB Hi-Fi Ltd. 7,750 149,417 
John Fairfax Holdings Ltd. 133,759 71,596 
Karoon Gas Australia Ltd. (a) 1,197 1,136 
Lendlease Group unit 22,239 298,255 
Link Administration Holdings Ltd. 15,598 97,056 
Lynas Corp. Ltd. (a) 24,884 47,956 
Macquarie Atlas Roads Group unit 26,503 128,146 
Macquarie Group Ltd. 12,927 1,052,752 
Magellan Financial Group Ltd. 5,722 99,966 
Mantra Group Ltd. 10,722 31,840 
Mayne Pharma Group Ltd. (a) 85,853 43,767 
McMillan Shakespeare Ltd. 3,134 39,600 
Medibank Private Ltd. 126,941 278,986 
Mesoblast Ltd. (a) 3,999 4,396 
Metcash Ltd. 47,236 127,495 
Mineral Resources Ltd. 7,162 95,906 
Mirvac Group unit 139,142 233,505 
Monadelphous Group Ltd. 7,750 93,734 
Myer Holdings Ltd. 14,173 4,093 
MYOB Group Ltd. 32,308 78,776 
Nanosonics Ltd. (a) 18,193 32,762 
National Australia Bank Ltd. 110,583 2,403,969 
National Storage (REIT) unit 1,548 1,859 
Navitas Ltd. 20,533 65,743 
Newcrest Mining Ltd. 31,904 505,677 
NEXTDC Ltd. (a) 20,114 103,301 
Nine Entertainment Co. Holdings Ltd. 35,938 63,640 
Northern Star Resources Ltd. 28,206 134,613 
Nufarm Ltd. 19,264 131,674 
oOh!media Ltd. 510 1,862 
Orica Ltd. 14,174 211,180 
Origin Energy Ltd. (a) 71,884 524,809 
Orocobre Ltd. (a) 9,603 40,150 
Orora Ltd. 69,837 175,154 
OZ Minerals Ltd. 9,982 68,886 
Pact Group Holdings Ltd. (c) 2,344 9,981 
Perpetual Trustees Australia Ltd. 1,277 38,525 
Pilbara Minerals Ltd. (a)(b) 50,212 34,259 
Platinum Asset Management Ltd. 6,911 29,316 
Premier Investments Ltd. 9,493 112,088 
Primary Health Care Ltd. 35,390 100,894 
QBE Insurance Group Ltd. 58,265 435,157 
Qube Holdings Ltd. 74,713 128,767 
Quintis Ltd. (a)(d) 790 
Ramsay Health Care Ltd. 5,167 251,197 
realestate.com.au Ltd. 2,889 174,905 
Regis Healthcare Ltd. 290 833 
Regis Resources Ltd. 17,336 61,176 
Reliance Worldwide Corp. Ltd. 31,595 112,121 
Resolute Mng Ltd. 38,705 33,055 
Retail Food Group Ltd. 1,163 805 
Rio Tinto Ltd. 17,174 1,022,096 
Sandfire Resources NL 7,992 47,300 
Santos Ltd. (a) 77,600 357,411 
Saracen Mineral Holdings Ltd. (a) 53,513 75,225 
Scentre Group unit 219,373 663,058 
SEEK Ltd. 14,225 206,915 
Select Harvests Ltd. 5,638 26,397 
Seven Group Holdings Ltd. 6,774 92,369 
Shopping Centres Australasia Property Group unit 15,213 27,169 
Sigma Healthcare Ltd. 31,213 18,137 
Sims Metal Management Ltd. 9,684 117,038 
Sirtex Medical Ltd. 3,431 71,756 
Smartgroup Corp. Ltd. 2,759 22,478 
Sonic Healthcare Ltd. 15,920 282,265 
South32 Ltd. 220,573 612,095 
Southern Cross Media Group Ltd. 34,197 29,611 
SP AusNet 56,286 72,659 
Spark Infrastructure Group unit 90,564 159,683 
SpeedCast International Ltd. 9,792 43,491 
St Barbara Ltd. 27,260 86,967 
Steadfast Group Ltd. 20,335 41,871 
Stockland Corp. Ltd. unit 103,532 321,820 
Suncorp Group Ltd. 52,773 555,051 
Super Retail Group Ltd. 6,031 32,607 
Sydney Airport unit 42,575 227,950 
Syrah Resources Ltd. (a) 14,130 33,830 
Tabcorp Holdings Ltd. 73,206 240,727 
Tassal Group Ltd. 1,218 3,548 
Technology One Ltd. 15,556 57,782 
Telstra Corp. Ltd. 161,792 384,681 
The GPT Group unit 79,984 290,031 
The Star Entertainment Group Ltd. 36,093 142,830 
Tox Free Solutions Ltd. 2,376 6,148 
TPG Telecom Ltd. 20,251 84,944 
Transpacific Industries Group Ltd. 87,115 103,453 
Transurban Group unit 91,396 796,398 
Treasury Wine Estates Ltd. 30,165 430,877 
Vicinity Centers unit 144,364 264,327 
Village Roadshow Ltd. (a) 338 549 
Virtus Health Ltd. 1,474 6,251 
Viva Energy REIT unit (c) 6,394 9,694 
Vocus Group Ltd. 29,228 53,717 
Washington H. Soul Pattinson & Co. Ltd. 8,475 123,608 
Webjet Ltd. 6,126 50,460 
Wesfarmers Ltd. 46,661 1,535,128 
West Australian Newspapers Holdings Ltd. 7,448 3,098 
Western Areas NL 25,883 66,650 
Westfield Corp. unit (a) 81,137 560,671 
Westgold Resources Ltd. (a) 892 987 
Westpac Banking Corp. 139,805 3,003,076 
Whitehaven Coal Ltd. 25,235 87,017 
WiseTech Global Ltd. 3,275 24,597 
Woodside Petroleum Ltd. 39,759 963,500 
Woolworths Group Ltd. 52,893 1,106,298 
WorleyParsons Ltd. 8,949 109,077 
TOTAL AUSTRALIA  47,834,330 
Austria - 0.3%   
ams AG 2,579 214,388 
Andritz AG 2,985 160,625 
Austria Technologie & Systemtechnik AG 1,807 44,843 
BUWOG AG 1,098 38,505 
CA Immobilien Anlagen AG 3,151 109,360 
DO & CO Restaurants & Catering AG 329 20,461 
Erste Group Bank AG 12,640 619,721 
EVN AG 1,673 34,305 
IMMOFINANZ Immobilien Anlagen AG 45,009 118,163 
Lenzing AG 763 89,237 
Oesterreichische Post AG 1,485 71,480 
OMV AG 6,015 374,081 
PORR AG 109 3,883 
Raiffeisen International Bank-Holding AG 6,352 214,779 
S IMMO AG 1,268 25,112 
S&T AG 2,046 52,874 
Schoeller-Bleckmann Oilfield Equipment AG 436 54,178 
Telekom Austria AG 5,047 48,149 
UNIQA Insurance Group AG 7,655 91,795 
Vienna Insurance Group AG 4,167 135,765 
Voestalpine AG 4,481 236,526 
Wienerberger AG 5,103 128,794 
Zumtobel AG 292 2,645 
TOTAL AUSTRIA  2,889,669 
Bailiwick of Guernsey - 0.0%   
Burford Capital Ltd. 6,852 135,837 
Schroder (REIT) Ltd. 2,240 1,884 
Standard Life Investment Property Income Trust Ltd. 929 1,202 
Stobart Group Ltd. 9,513 31,956 
TOTAL BAILIWICK OF GUERNSEY  170,879 
Bailiwick of Jersey - 0.7%   
Boohoo.Com PLC (a) 29,472 74,372 
Centamin PLC 69,901 150,845 
Experian PLC 36,200 829,422 
Glencore Xstrata PLC 501,727 2,422,382 
IWG PLC 28,186 96,155 
Petrofac Ltd. 15,286 127,023 
Randgold Resources Ltd. 3,587 290,847 
Shire PLC 37,660 2,005,392 
UBM PLC 14,761 196,712 
Wolseley PLC 9,828 754,986 
WPP PLC 52,965 908,886 
TOTAL BAILIWICK OF JERSEY  7,857,022 
Belgium - 0.8%   
Ablynx NV (a) 3,227 174,504 
Ackermans & Van Haaren SA 1,294 234,083 
Aedifica SA 286 25,972 
Ageas 7,405 397,484 
Agfa-Gevaert NV (a) 13,944 49,910 
Anheuser-Busch InBev SA NV 31,862 3,182,780 
Barco NV 298 38,578 
Befimmo SCA Sicafi 370 24,038 
Bekaert SA 2,466 103,871 
Bpost SA 3,768 82,678 
Cofinimmo SA 1,456 193,409 
Colruyt NV 3,012 169,789 
Compagnie D'entreprises CFE SA 465 58,624 
D'ieteren SA 2,258 96,146 
Econocom Group SA 8,036 51,918 
Elia System Operator SA/NV 1,311 82,958 
Euronav NV 7,121 57,744 
EVS Broadcast Equipment SA 346 11,386 
Fagron NV (a) 2,217 38,285 
Galapagos Genomics NV (a) 1,837 164,602 
Gimv NV 291 17,465 
Groupe Bruxelles Lambert SA 2,774 318,105 
Ion Beam Applications SA 586 12,023 
KBC Ancora 1,298 78,765 
KBC Groep NV 10,233 894,674 
Kinepolis Group NV 846 59,152 
Melexis NV 695 66,345 
Nyrstar NV (a) 3,127 21,675 
Ontex Group NV 3,196 82,130 
Orange Belgium 576 11,978 
Proximus 6,691 205,476 
Sofina SA 1,152 201,439 
Solvay SA Class A 3,001 418,935 
Telenet Group Holding NV (a) 2,889 169,414 
Tessenderlo Group (a) 1,881 79,048 
UCB SA 5,575 422,524 
Umicore SA 8,793 491,208 
Van de Velde 142 5,873 
Warehouses de Pauw 857 105,561 
Warehouses de Pauw rights (a) 367 1,994 
TOTAL BELGIUM  8,902,543 
Bermuda - 0.6%   
AGTech Holdings Ltd. (a) 40,000 4,358 
Alibaba Health Information Technology Ltd. (a) 90,000 45,259 
Alibaba Pictures Group Ltd. (a) 440,000 49,564 
Beijing Enterprises Water Group Ltd. 290,000 168,369 
BEP International Holdings Ltd. (a) 110,000 1,545 
Borr Drilling Ltd. (a)(b) 19,796 91,302 
Brightoil Petroleum Holdings Ltd. (a)(d) 26,000 4,969 
Brilliance China Automotive Holdings Ltd. 124,000 220,784 
BW LPG Ltd. (a)(c) 821 2,868 
BW Offshore Ltd. (a) 3,569 19,530 
C C Land Holdings Ltd. 30,000 6,841 
C.banner International Holdings Ltd. (a) 19,000 5,889 
Cafe de Coral Holdings Ltd. 6,000 14,732 
Carnival Group International Holdings Ltd. (a) 125,000 5,484 
Cheung Kong Infrastructure Holdings Ltd. 22,500 177,579 
China Foods Ltd. 6,000 2,754 
China Gas Holdings Ltd. 68,800 243,805 
China Innovationpay Group Ltd. (a) 216,000 19,975 
China Oil & Gas Group Ltd. 360,000 26,890 
China Resource Gas Group Ltd. 44,000 161,815 
China Trustful Group Ltd. (a) 4,000 1,572 
China Water Affairs Group Ltd. 40,000 37,962 
Chow Sang Sang Holdings International Ltd. 2,000 4,386 
CITIC Resources Holdings Ltd. 16,000 1,802 
CMBC Capital Holdings Ltd. 600,000 47,051 
Cosco Shipping Ports Ltd. 64,311 56,560 
Credicorp Ltd. (United States) 2,836 659,342 
Digital China Holdings Ltd. (H Shares) (a) 21,261 12,117 
Digital Domain Holdings Ltd. (a) 470,000 9,826 
Emperor International Holding Ltd. 54,000 16,381 
Esprit Holdings Ltd. (a) 52,400 18,105 
FDG Electric Vehicles Ltd. (a) 505,000 15,777 
Frontline Ltd. 824 3,566 
G-Resources Group Ltd. (a) 138,000 1,139 
GCL New Energy Holdings Ltd. (a) 476,000 26,402 
Giordano International Ltd. 56,000 34,220 
Global Brands Group Holding Ltd. (a) 142,000 6,998 
Golden Ocean Group Ltd. 5,388 43,555 
GOME Electrical Appliances Holdings Ltd. 373,000 40,122 
Great Eagle Holdings Ltd. 6,080 30,712 
GZI Transport Ltd. 72,000 54,291 
Haier Electronics Group Co. Ltd. 58,000 200,667 
HengTen Networks Group Ltd. (a) 892,000 34,278 
Hiscox Ltd. 11,430 234,304 
Hoegh LNG Holdings Ltd. 550 3,205 
Hongkong Land Holdings Ltd. 48,000 346,908 
Hopson Development Holdings Ltd. 44,000 46,809 
Huabao International Holdings Ltd. 41,000 26,112 
Huanxi Media Group Ltd. (a) 10,000 2,543 
Jardine Matheson Holdings Ltd. 8,645 523,487 
Jardine Strategic Holdings Ltd. 9,566 362,029 
Johnson Electric Holdings Ltd. 31,000 107,927 
K Wah International Holdings Ltd. 76,902 47,204 
Kerry Logistics Network Ltd. 15,500 23,669 
Kerry Properties Ltd. 39,500 188,831 
Kingston Financial Group Ltd. 148,000 75,241 
KuangChi Science Ltd. (a) 26,000 5,907 
Kunlun Energy Co. Ltd. 156,000 133,570 
Lancashire Holdings Ltd. 7,267 59,627 
Landing International Development Ltd. (a) 2,700,000 61,221 
Li & Fung Ltd. 308,000 154,900 
Luk Fook Holdings International Ltd. 17,000 71,056 
Luye Pharma Group Ltd. 78,500 83,225 
Man Wah Holdings Ltd. 80,800 59,758 
Nan Hai Corp. Ltd. 100,000 2,585 
Neo-China Group (Holdings) Ltd. 8,000 1,721 
Nine Dragons Paper (Holdings) Ltd. 70,000 104,402 
Noble Group Ltd. (a) 14,530 888 
NWS Holdings Ltd. 47,367 93,399 
Pacific Basin Shipping Ltd. (a) 130,000 34,566 
Panda Green Energy Group Ltd. (a) 56,000 5,971 
PAX Global Technology Ltd. 14,000 6,333 
Petra Diamonds Ltd. (a) 26,731 25,190 
Pou Sheng International (Holdings) Ltd. 181,000 30,180 
Road King Infrastructure Ltd. 20,000 37,918 
Shangri-La Asia Ltd. 58,000 112,875 
Shenzhen International Holdings Ltd. 62,074 135,625 
Sihuan Pharmaceutical Holdings Group Ltd. 119,000 28,761 
Silverlake Axis Ltd. Class A 81,300 33,631 
Sinopec Kantons Holdings Ltd. 50,000 23,652 
Skyfame Realty Holdings Ltd. (a) 50,000 35,143 
Skyworth Digital Holdings Ltd. 72,098 32,761 
SmarTone Telecommunications Holdings Ltd. 2,643 2,794 
SMI Corp. Ltd. 7,200 3,109 
Stolt-Nielsen SA 172 2,444 
Tai Fook Securities Group Ltd. 81,507 47,514 
Texwinca Holdings Ltd. 6,000 3,017 
Town Health International Holdings Co. Ltd. (d) 114,000 10,022 
Vtech Holdings Ltd. 12,400 150,986 
Yue Yuen Industrial (Holdings) Ltd. 43,000 121,861 
TOTAL BERMUDA  6,336,024 
Brazil - 1.1%   
AES Tiete Energia SA unit 1,912 6,222 
Aliansce Shopping Centers SA 600 2,948 
Alupar Investimento SA unit 24,300 120,765 
Ambev SA 197,963 1,318,359 
Arezzo Industria e Comercio SA 1,400 21,173 
Atacadao Distribuicao Comercio e Industria Ltda 19,200 82,759 
B2W Companhia Global do Varejo (a) 8,704 71,805 
Banco Bradesco SA 30,481 277,559 
Banco do Brasil SA 34,600 362,474 
Banco Santander SA (Brasil) unit 17,800 193,640 
BB Seguridade Participacoes SA 30,100 236,112 
BM&F BOVESPA SA 82,378 594,931 
BR Malls Participacoes SA 28,805 89,790 
Brasil Foods SA (a) 17,200 121,763 
CCR SA 45,584 155,625 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 10,400 56,613 
Cia. Hering SA 3,800 20,718 
Cielo SA 49,760 272,720 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 13,400 134,490 
Companhia de Saneamento de Minas Gerais 4,900 70,496 
Companhia Energetica de Minas Gerais (CEMIG) 186 409 
Companhia Siderurgica Nacional SA (CSN) (a) 29,387 73,652 
Cosan SA Industria e Comercio 8,700 98,791 
CVC Brasil Operadora e Agencia de Viagens SA 4,200 69,524 
Cyrela Brazil Realty SA 7,700 30,552 
Drogasil SA 9,100 178,665 
Duratex SA 8,400 25,657 
Ecorodovias Infraestrutura e Logistica SA 3,000 8,521 
EDP Energias do Brasil SA 11,600 45,993 
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA 4,600 44,855 
Embraer SA 28,988 183,202 
ENGIE Brasil Energia SA 5,745 60,661 
Equatorial Energia SA 10,100 205,131 
Estacio Participacoes SA 11,600 105,629 
Fibria Celulose SA 10,400 204,277 
Fleury SA 9,500 70,805 
Hypermarcas SA 16,800 151,062 
Iguatemi Empresa de Shopping Centers SA 1,300 13,248 
Iochpe-Maxion SA 3,830 30,721 
Itausa-Investimentos Itau SA 3,087 11,896 
JBS SA 30,600 76,430 
Klabin SA unit 23,900 144,838 
Kroton Educacional SA 64,654 258,564 
Light SA (a) 3,100 15,521 
Linx SA 10,800 68,934 
Localiza Rent A Car SA 20,970 166,948 
Lojas Renner SA 36,877 343,274 
M. Dias Branco SA 3,357 42,164 
Magazine Luiza SA 3,000 91,382 
Marfrig Global Foods SA (a) 4,500 10,174 
Minerva SA 600 1,404 
MRV Engenharia e Participacoes SA 8,200 35,111 
Multiplan Empreendimentos Imobiliarios SA 3,532 67,067 
Multiplus SA 700 5,715 
Natura Cosmeticos SA 6,300 57,925 
Odontoprev SA 13,800 59,207 
Petroleo Brasileiro SA - Petrobras (ON) (a) 102,800 722,757 
Porto Seguro SA 7,400 95,478 
Qualicorp SA 7,500 52,131 
Rumo SA (a) 42,300 179,309 
Sao Martinho SA 21,600 104,695 
Smiles Fidelidade SA 1,900 39,050 
Sul America SA unit 11,735 72,423 
Suzano Papel e Celulose SA 17,300 202,768 
Terna Participacoes SA unit 20,300 123,369 
TIM Participacoes SA 45,280 206,159 
Totvs SA 9,200 84,037 
Ultrapar Participacoes SA 16,100 277,816 
Vale SA 132,174 1,836,295 
Valid Solucoes SA 660 3,448 
Via Varejo SA unit 6,100 51,803 
Weg SA 29,640 150,434 
TOTAL BRAZIL  11,470,843 
British Virgin Islands - 0.0%   
First Pacific Co. Ltd. 62,000 31,748 
Canada - 6.2%   
Advantage Oil & Gas Ltd. (a) 9,749 31,055 
Aecon Group, Inc. 4,244 59,663 
AG Growth International, Inc. 175 7,096 
AGF Management Ltd. Class B (non-vtg.) 1,711 9,395 
Agnico Eagle Mines Ltd. (Canada) 9,941 418,328 
AGT Food & Ingredients, Inc. 170 2,171 
Aimia, Inc. 2,333 4,016 
Alacer Gold Corp. (a) 4,325 7,175 
Alamos Gold, Inc. 19,012 102,764 
Alaris Royalty Corp. 1,959 25,984 
Algonquin Power & Utilities Corp. 21,349 207,845 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 18,206 787,114 
Allied Properties (REIT) 831 26,847 
AltaGas Ltd. 9,271 178,712 
Altius Minerals Corp. 306 3,415 
Altus Group Ltd. 1,256 31,597 
ARC Resources Ltd. 18,687 208,418 
Aritzia LP (a) 3,263 31,081 
Artis (REIT) 542 5,652 
ATCO Ltd. Class I (non-vtg.) 3,638 110,079 
Athabasca Oil Corp. (a) 19,008 22,503 
ATS Automation Tooling System, Inc. (a) 1,088 14,889 
AutoCanada, Inc. 246 4,181 
B2Gold Corp. (a) 44,296 127,304 
Badger Daylighting Ltd. 901 17,354 
Bank of Montreal 25,296 1,921,113 
Bank of Nova Scotia 49,728 3,056,609 
Barrick Gold Corp. 47,310 636,720 
Baytex Energy Corp. (a) 5,795 25,952 
BCE, Inc. 5,420 230,021 
Birchcliff Energy Ltd. 13,061 47,302 
Bird Construction, Inc. 502 3,394 
BlackBerry Ltd. (a) 20,305 212,547 
Boardwalk (REIT) 579 20,793 
Bombardier, Inc. Class B (sub. vtg.) (a) 84,898 262,506 
Bonavista Energy Corp. 5,185 6,381 
Bonterra Energy Corp. 213 2,621 
Boralex, Inc. Class A 3,344 59,772 
Brookfield Asset Management, Inc. Class A 34,128 1,352,680 
BRP, Inc. 2,924 118,285 
CAE, Inc. 12,968 245,129 
Cameco Corp. 16,019 168,680 
Canaccord Capital, Inc. 4,468 21,123 
Canacol Energy Ltd. (a) 1,213 4,053 
Canada Goose Holdings, Inc. (a) 2,145 79,622 
Canadian (REIT) 2,006 78,899 
Canadian Apartment Properties (REIT) unit 9,483 273,570 
Canadian Energy Services & Technology Corp. 8,231 40,323 
Canadian Imperial Bank of Commerce 17,531 1,526,922 
Canadian National Railway Co. 30,905 2,387,047 
Canadian Natural Resources Ltd. 45,840 1,653,732 
Canadian Pacific Railway Ltd. 5,928 1,081,671 
Canadian Tire Ltd. Class A (non-vtg.) 2,580 351,609 
Canadian Utilities Ltd. Class A (non-vtg.) 4,983 126,908 
Canadian Western Bank, Edmonton 2,948 78,226 
Canfor Corp. (a) 2,588 59,442 
Canfor Pulp Products, Inc. 673 9,461 
Capital Power Corp. 3,929 74,605 
Cara Operations Ltd. 231 4,807 
Cardinal Energy Ltd. 630 2,542 
Cascades, Inc. 4,191 39,986 
CCL Industries, Inc. Class B 5,765 279,640 
Celestica, Inc. (sub. vtg.) (a) 5,518 63,520 
Cenovus Energy, Inc. 44,207 442,776 
Centerra Gold, Inc. (a) 7,619 46,523 
CGI Group, Inc. Class A (sub. vtg.) (a) 10,296 596,614 
China Gold International Resources Corp. Ltd. (a) 4,402 8,948 
Choice Properties REIT 383 3,410 
CI Financial Corp. 12,048 253,543 
Cineplex, Inc. 2,471 57,755 
Clearwater Seafoods, Inc. 190 783 
Cogeco Communications, Inc. 956 50,937 
Cogeco, Inc. (sub. vtg.) 155 7,943 
Colliers International Group, Inc. 1,875 127,356 
Cominar (REIT) 7,491 73,104 
Computer Modelling Group Ltd. 610 4,485 
Constellation Software, Inc. 871 622,498 
Corby Spirit and Wine Ltd. 368 5,701 
Corus Entertainment, Inc. Class B (non-vtg.) 8,530 42,519 
Cott Corp. 7,684 109,878 
Crescent Point Energy Corp. 23,086 202,280 
Crew Energy, Inc. (a) 814 1,655 
Crombie (REIT) 448 4,337 
CT Real Estate Investment Trust 401 4,091 
Descartes Systems Group, Inc. (Canada) (a) 5,666 167,471 
Detour Gold Corp. (a) 10,912 78,869 
Dirtt Environmental Solutions Ltd. (a) 675 2,960 
Dollarama, Inc. 4,355 501,319 
Dorel Industries, Inc. Class B (sub. vtg.) 1,245 26,908 
Dream Global REIT 18,523 197,500 
Dream Industrial (REIT) 1,039 8,149 
Dream Office (REIT) 386 7,149 
DREAM Unlimited Corp. (a) 489 3,645 
ECN Capital Corp. 29,196 77,313 
Eldorado Gold Corp. (a) 19,961 18,967 
Element Financial Corp. 15,624 59,018 
Emera, Inc. 4,895 152,460 
Empire Co. Ltd. Class A (non-vtg.) 9,793 189,384 
Enbridge Income Fund Holdings, Inc. 9,847 210,599 
Enbridge, Inc. 68,970 2,089,056 
Encana Corp. 42,037 523,519 
Endeavour Silver Corp. (a) 544 1,632 
EnerCare, Inc. 13,325 180,164 
Enerflex Ltd. 7,164 87,545 
Enerplus Corp. 14,196 164,742 
Enghouse Systems Ltd. 2,178 112,942 
Ensign Energy Services, Inc. 1,901 9,106 
Entertainment One Ltd. 24,559 92,573 
Equitable Group, Inc. 333 15,022 
Evertz Technologies Ltd. 415 5,734 
Exco Technologies Ltd. 580 4,404 
Extendicare, Inc. 834 5,411 
Fairfax Financial Holdings Ltd. (sub. vtg.) 1,169 647,191 
Fiera Capital Corp. 751 6,621 
Finning International, Inc. 9,929 250,477 
First Capital Realty, Inc. 4,091 63,948 
First Majestic Silver Corp. (a) 8,355 54,271 
First National Financial Corp. 813 16,812 
First Quantum Minerals Ltd. 29,225 421,093 
FirstService Corp. 3,415 239,378 
Fortis, Inc. 16,029 538,066 
Fortuna Mines, Inc. (a) 8,792 49,919 
Franco-Nevada Corp. 7,627 540,980 
Freehold Royalties Ltd. 4,398 44,564 
Genworth MI Canada, Inc. 1,217 39,336 
George Weston Ltd. 1,834 150,254 
Gibson Energy, Inc. 4,417 57,004 
Gildan Activewear, Inc. 10,339 301,163 
Gluskin Sheff + Associates, Inc. 432 5,225 
Goldcorp, Inc. 36,490 484,279 
Granite Real Estate Investment Trust 188 7,396 
Great Canadian Gaming Corp. (a) 1,984 56,617 
Great-West Lifeco, Inc. 9,915 264,333 
Guyana Goldfields, Inc. (a) 10,438 40,485 
H&R REIT/H&R Finance Trust 4,454 71,530 
High Liner Foods, Inc. 110 942 
Home Capital Group, Inc. (a) 1,485 16,643 
HudBay Minerals, Inc. 11,872 82,941 
Hudson's Bay Co. 1,594 11,273 
Husky Energy, Inc. 17,491 244,666 
Hydro One Ltd. (c) 10,509 166,890 
IAMGOLD Corp. (a) 21,764 118,995 
IGM Financial, Inc. 5,756 176,677 
Imperial Oil Ltd. 13,483 419,312 
Industrial Alliance Insurance and Financial Services, Inc. 6,736 282,934 
Innergex Renewable Energy, Inc. 6,435 67,861 
Intact Financial Corp. 6,394 487,537 
Inter Pipeline Ltd. 17,242 310,878 
Interfor Corp. (a) 5,374 100,494 
InterRent REIT 1,343 10,523 
Intertape Polymer Group, Inc. 4,330 67,279 
Ivanhoe Mines Ltd. (a) 28,271 58,350 
Jean Coutu Group, Inc. Class A (sub. vtg.) 2,487 47,631 
Just Energy Group, Inc. 1,772 7,411 
Kelt Exploration Ltd. (a) 2,389 15,109 
Keyera Corp. 10,062 270,917 
Killam Apartment (REIT) 785 8,670 
Kinaxis, Inc. (a) 620 40,075 
Kinder Morgan Canada Ltd. (c) 7,909 102,070 
Kinross Gold Corp. (a) 54,091 209,379 
Kirkland Lake Gold Ltd. 7,412 129,311 
Klondex Mines Ltd. (a) 5,562 13,602 
Knight Therapeutics, Inc. (a) 1,049 6,422 
Labrador Iron Ore Royalty Corp. 2,030 34,546 
Laurentian Bank of Canada 1,297 49,811 
Linamar Corp. 2,097 117,512 
Loblaw Companies Ltd. 8,494 431,994 
Lucara Diamond Corp. 4,561 7,211 
Lundin Mining Corp. 25,474 168,643 
MAG Silver Corp. (a) 6,403 71,164 
Magellan Aerospace Corp. 282 4,252 
Magna International, Inc. Class A (sub. vtg.) 13,784 814,082 
Major Drilling Group International, Inc. (a) 567 2,835 
Manulife Financial Corp. 79,837 1,506,640 
Maple Leaf Foods, Inc. 2,809 67,712 
Martinrea International, Inc. 4,456 53,169 
Maxar Technologies Ltd. 2,588 117,110 
Medical Facilities Corp. 378 4,154 
MEG Energy Corp. (a) 6,819 35,265 
Methanex Corp. 3,684 222,053 
Metro, Inc. Class A (sub. vtg.) 9,128 289,633 
Morguard (REIT) 354 3,670 
Morneau Shephell, Inc. 611 12,073 
MTY Food Group, Inc. 2,830 101,611 
Mullen Group Ltd. 2,476 28,059 
National Bank of Canada 13,171 625,544 
Nevsun Resources Ltd. 11,969 33,373 
New Flyer Industries, Inc. 2,635 121,022 
New Gold, Inc. (a) 29,054 68,112 
NexGen Energy Ltd. (a)(b) 8,877 17,699 
Norbord, Inc. 2,053 84,777 
North West Co., Inc. 777 16,709 
Northland Power, Inc. 5,551 100,086 
Northview Apartmemt (REIT) 252 5,007 
Northwest Healthcare Properties REIT 930 8,112 
Novagold Resources, Inc. (a) 7,992 38,343 
Nutrien Ltd. 26,918 1,225,404 
NuVista Energy Ltd. (a) 14,019 92,044 
OceanaGold Corp. 30,416 81,965 
Onex Corp. (sub. vtg.) 3,658 270,942 
Open Text Corp. 10,880 384,120 
Osisko Gold Royalties Ltd. 3,247 31,687 
Osisko Mining, Inc. (a) 4,512 9,348 
Painted Pony Petroleum Ltd. (a) 562 1,226 
Pan American Silver Corp. 10,160 163,779 
Paramount Resources Ltd. Class A (a) 2,068 29,523 
Parex Resources, Inc. (a) 5,333 91,753 
Parkland Fuel Corp. 8,546 198,416 
Pason Systems, Inc. 1,092 15,266 
Pembina Pipeline Corp. 21,238 676,367 
Pengrowth Energy Corp. (a) 11,159 9,995 
Peyto Exploration & Development Corp. 6,397 60,485 
Power Corp. of Canada (sub. vtg.) 13,583 322,768 
Power Financial Corp. 9,669 250,847 
PrairieSky Royalty Ltd. 7,732 171,448 
Precision Drilling Corp. (a) 18,987 67,729 
Premier Gold Mines Ltd. (a) 3,779 8,006 
Premium Brands Holdings Corp. 1,621 152,271 
Pretium Resources, Inc. (a) 7,604 51,169 
ProMetic Life Sciences, Inc. (a) 22,496 13,842 
Pure Industrial Real Estate Trust 9,413 59,237 
Quebecor, Inc. Class B (sub. vtg.) 4,672 87,112 
Raging River Exploration, Inc. (a) 16,199 90,082 
Restaurant Brands International, Inc. 9,266 504,237 
RioCan (REIT) 6,181 112,408 
Ritchie Brothers Auctioneers, Inc. 4,917 160,690 
Rogers Communications, Inc. Class B (non-vtg.) 15,293 721,920 
Rogers Sugar, Inc. 1,976 9,234 
Royal Bank of Canada 60,021 4,564,391 
Russel Metals, Inc. 5,998 136,315 
Sandstorm Gold Ltd. (a) 11,208 51,852 
Saputo, Inc. 8,516 276,118 
Seabridge Gold, Inc. (a) 1,636 17,096 
Secure Energy Services, Inc. 12,279 77,273 
SEMAFO, Inc. (a) 9,283 28,776 
Seven Generations Energy Ltd. (a) 10,372 147,993 
Shaw Communications, Inc. Class B 19,214 394,920 
ShawCor Ltd. Class A 2,890 55,912 
Shopify, Inc. Class A (a) 3,591 481,084 
Sienna Senior Living, Inc. 823 11,179 
Sierra Wireless, Inc. (a) 582 10,081 
Silvercorp Metals, Inc. 5,014 13,668 
Sleep Country Canada Holdings, Inc. 1,260 34,602 
Smart (REIT) 798 17,900 
SNC-Lavalin Group, Inc. 7,491 328,415 
Spartan Energy Corp. (a) 8,124 40,242 
Spin Master Corp. (a)(c) 1,979 74,030 
Sprott, Inc. 1,346 3,564 
Ssr Mining, Inc. (a) 3,389 34,710 
Stantec, Inc. 6,406 163,000 
Stella-Jones, Inc. 1,695 61,426 
Stornoway Diamond Corp. (a) 2,225 1,005 
Student Transportation, Inc. 1,856 13,877 
Sun Life Financial, Inc. 25,181 1,039,443 
Suncor Energy, Inc. 68,592 2,623,052 
Superior Plus Corp. 5,946 57,610 
Surge Energy, Inc. 1,678 3,124 
Tahoe Resources, Inc. 17,454 87,953 
Teck Resources Ltd. Class B (sub. vtg.) 24,545 616,134 
TELUS Corp. 8,823 315,758 
The Stars Group, Inc. (a) 6,214 193,300 
The Toronto-Dominion Bank 76,597 4,301,888 
Thomson Reuters Corp. 11,756 472,730 
Timbercreek Financial Corp. 3,121 22,290 
TMAC Resources, Inc. (a) 1,050 6,158 
TMX Group Ltd. 3,213 193,788 
TORC Oil & Gas Ltd. 5,379 30,499 
Torex Gold Resources, Inc. (a) 4,469 45,945 
Toromont Industries Ltd. 3,132 137,165 
Total Energy Services, Inc. 409 4,339 
Tourmaline Oil Corp. 10,122 190,386 
TransAlta Corp. 7,976 41,994 
TransAlta Renewables, Inc. 1,995 17,807 
TransCanada Corp. 36,426 1,544,477 
Transcontinental, Inc. Class A 5,842 123,033 
TransForce, Inc. 3,468 100,398 
Trican Well Service Ltd. (a) 9,711 25,867 
Tricon Capital Group, Inc. 5,224 40,931 
Trinidad Drilling Ltd. (a) 1,286 1,863 
Turquoise Hill Resources Ltd. (a) 46,551 137,773 
Uni-Select, Inc. 1,404 21,728 
Uranium Participation Corp. (a) 1,297 3,919 
Valeant Pharmaceuticals International, Inc. (Canada) (a) 13,429 242,662 
Valener, Inc. 416 6,522 
Vermilion Energy, Inc. 4,041 136,594 
Wajax Corp. 186 3,428 
West Fraser Timber Co. Ltd. 2,950 199,822 
Western Forest Products, Inc. 16,341 35,254 
WestJet Airlines Ltd. 1,117 19,879 
Westshore Terminals Investment Corp. 1,607 27,748 
Wheaton Precious Metals Corp. 20,558 426,707 
Whitecap Resources, Inc. 25,516 184,819 
Winpak Ltd. 1,133 42,057 
WSP Global, Inc. 5,087 251,864 
Yamana Gold, Inc. 40,697 116,961 
TOTAL CANADA  67,061,683 
Cayman Islands - 4.3%   
21Vianet Group, Inc. ADR (a) 4,992 26,308 
3SBio, Inc. (c) 57,000 122,474 
500.com Ltd. sponsored ADR Class A (a) 1,268 23,141 
51job, Inc. sponsored ADR (a) 961 79,321 
58.com, Inc. ADR (a) 3,951 345,278 
AAC Technology Holdings, Inc. 31,500 452,112 
Agile Property Holdings Ltd. 72,000 142,027 
Airtac International Group 7,134 123,566 
Alibaba Group Holding Ltd. sponsored ADR (a)(b) 48,306 8,624,553 
Anta Sports Products Ltd. 49,000 279,604 
ASM Pacific Technology Ltd. 11,200 153,477 
Autohome, Inc. ADR Class A 2,270 221,439 
Baidu.com, Inc. sponsored ADR (a) 11,554 2,898,899 
Baozun, Inc. sponsored ADR (a)(b) 1,340 61,627 
Biostime International Holdings Ltd. (a) 10,500 75,415 
Bitauto Holdings Ltd. ADR (a)(b) 1,372 29,045 
BizLink Holding, Inc. 3,062 22,571 
Car, Inc. (a) 83,000 79,146 
Casetek Holdings 1,187 2,899 
Chailease Holding Co. Ltd. 58,000 211,251 
Changyou.com Ltd. (A Shares) ADR (b) 517 9,839 
Chaowei Power Holdings Ltd. 47,000 26,246 
Cheetah Mobile, Inc. ADR (a)(b) 1,994 26,740 
Cheung Kong Property Holdings Ltd. 110,000 949,626 
China All Access Holdings Ltd. 8,000 2,075 
China Aoyuan Property Group Ltd. 39,000 31,331 
China Conch Venture Holdings Ltd. 81,000 251,469 
China Dongxiang Group Co. Ltd. 229,000 41,917 
China First Capital Group Ltd. (a) 194,000 177,127 
China Goldjoy Group Ltd. 248,000 16,265 
China Harmony New Energy Auto (a) 27,000 15,186 
China High Speed Transmission Equipment Group Co. Ltd. 22,000 32,044 
China Huishan Dairy Holdings Co. Ltd. (a)(d) 51,000 1,365 
China Investment Fund International Holdings Co. Ltd. (a) 48,000 50,354 
China Liansu Group Holdings Ltd. 63,000 48,556 
China LNG Group Ltd. (a) 60,000 8,401 
China Logistics Property Holdings Co. Ltd. (a) 109,000 38,555 
China Maple Leaf Educational Systems Ltd. 18,000 24,942 
China Medical System Holdings Ltd. 53,000 129,785 
China Mengniu Dairy Co. Ltd. 113,000 364,288 
China Modern Dairy Holdings Ltd. (a) 65,000 11,024 
China Regenerative Medicine International Ltd. (a) 75,000 1,423 
China Resources Land Ltd. 122,000 458,199 
China Resources Phoenix Health 29,500 38,558 
China SCE Property Holdings Ltd. 114,000 57,207 
China Shengmu Organic Milk Ltd. (a)(c) 136,000 15,851 
China State Construction International Holdings Ltd. 69,750 90,714 
China Wireless Technologies Ltd. (a)(d) 8,000 734 
China ZhengTong Auto Services Holdings Ltd. 68,000 54,987 
ChinaSoft International Ltd. 88,000 64,672 
Chong Sing Holdings Fintech Group (a) 556,000 72,737 
CIFI Holdings Group Co. Ltd. 150,000 118,117 
Cimc Enric Holdings Ltd. 12,000 12,413 
CK Hutchison Holdings Ltd. 113,500 1,342,121 
COFCO Meat Holdings Ltd. (a) 92,000 14,253 
Cogobuy Group (c) 5,000 2,418 
Country Garden Holdings Co. Ltd. 223,000 454,712 
CT Environmental Group Ltd. 26,000 3,956 
Ctrip.com International Ltd. ADR (a) 16,727 684,134 
eHi Car Service Co. Ltd. sponsored ADR (a) 203 2,653 
Endeavour Mining Corp. (a) 3,650 62,286 
ENN Energy Holdings Ltd. 32,000 299,249 
Evergrande Real Estate Group Ltd. (a) 138,190 437,727 
Fang Holdings Ltd. ADR (a)(b) 8,426 42,130 
Far East Consortium International Ltd. 91,242 52,107 
FIH Mobile Ltd. 298,000 51,090 
Freeman Fintech Corp. Ltd. (a) 320,000 47,466 
Fu Shou Yuan International Group Ltd. (c) 18,000 17,170 
Fufeng Group Ltd. 43,000 23,962 
Fullshare Holdings Ltd. 287,500 156,772 
Future Land Development Holding Ltd. 84,000 69,558 
GCL-Poly Energy Holdings Ltd. (a) 629,000 77,804 
GDS Holdings Ltd. ADR (a)(b) 3,443 100,432 
Geely Automobile Holdings Ltd. 210,000 552,307 
General Interface Solution Holding Ltd. 5,000 29,877 
Genscript Biotech Corp. 30,000 100,006 
Ginko International Co. Ltd. 1,000 8,386 
Glorious Property Holdings Ltd. (a) 16,000 1,296 
Golden Eagle Retail Group Ltd. (H Shares) 5,000 5,744 
Goodbaby International Holdings Ltd. 56,000 35,545 
Gourmet Master Co. Ltd. 5,100 58,660 
Greatview Aseptic Pack Co. Ltd. 75,000 49,707 
Greentown China Holdings Ltd. 24,500 32,287 
Haitian International Holdings Ltd. 21,000 55,887 
HC International, Inc. 4,000 2,696 
Hengan International Group Co. Ltd. 28,500 253,460 
HKBN Ltd. 65,000 91,009 
Hopewell Highway Infrastructure Ltd. 21,500 13,085 
Huayi Tencent Entertainment Co. Ltd. (a) 440,000 25,310 
Hutchison China Meditech Ltd. (a) 1,043 68,876 
Hutchison Telecommunications Hong Kong Holdings Ltd. 76,000 27,935 
IGG, Inc. 36,000 54,140 
iKang Healthcare Group, Inc. sponsored ADR (a) 4,529 90,263 
Imax China Holding, Inc. (c) 1,700 5,642 
JD.com, Inc. sponsored ADR (a) 27,383 999,753 
Jiayuan International Group Ltd. 76,000 141,018 
JinkoSolar Holdings Co. Ltd. ADR (a) 1,902 34,959 
Kaisa Group Holdings Ltd. (a) 90,000 48,077 
Kingboard Chemical Holdings Ltd. 30,500 124,083 
Kingboard Laminates Holdings Ltd. 66,500 88,637 
Kingdee International Software Group Co. Ltd. 102,000 99,017 
Kingsoft Corp. Ltd. 45,000 133,622 
KWG Property Holding Ltd. 53,123 71,559 
Lee & Man Paper Manufacturing Ltd. 50,000 55,074 
Leyou Technologies Holdings Ltd. (a) 95,000 24,282 
Li Ning Co. Ltd. (a) 53,000 59,676 
Lifetech Scientific Corp. (a) 140,000 42,593 
Lijun International Pharmaceutical Holding Ltd. 108,000 109,127 
Longfor Properties Co. Ltd. 59,500 177,949 
Lonking Holdings Ltd. 89,000 40,444 
Macau Legend Development Ltd. (a)(c) 9,000 1,427 
Meitu, Inc. (a)(c) 40,500 42,710 
Melco Crown Entertainment Ltd. sponsored ADR 9,944 310,352 
MGM China Holdings Ltd. 51,600 141,506 
Minth Group Ltd. 34,000 161,436 
Momo, Inc. ADR (a) 4,480 156,352 
NetDragon WebSoft, Inc. 4,500 10,846 
NetEase, Inc. ADR 3,317 852,701 
New Oriental Education & Technology Group, Inc. sponsored ADR 5,812 522,150 
Nexteer Auto Group Ltd. 29,000 44,619 
Noah Holdings Ltd. sponsored ADR (a)(b) 1,318 68,101 
OP Financial Investments Ltd. 112,000 44,684 
Pacific Textile Holdings Ltd. 56,000 51,230 
Parade Technologies Ltd. 5,000 77,287 
Phoenix Group Holdings 18,592 201,437 
Powerlong Real Estate Holding Ltd. 90,000 46,408 
Q Technology (Group) Co. Ltd. 11,000 13,393 
Regina Miracle International Holdings Ltd. 2,000 1,716 
Renhe Commercial Holdings Co. Ltd. (a) 966,000 19,480 
Ronshine China Holdings Ltd. (a) 39,000 57,851 
Sands China Ltd. 97,200 561,756 
Semiconductor Manufacturing International Corp. (a) 110,100 141,599 
Shenzhou International Group Holdings Ltd. 32,000 349,320 
Shimao Property Holdings Ltd. 55,500 146,801 
Shui On Land Ltd. 152,000 40,928 
Silergy Corp. 4,000 83,500 
SINA Corp. (a) 2,383 227,672 
Sino Biopharmaceutical Ltd. 184,000 387,469 
SITC International Holdings Co. Ltd. 52,000 55,403 
SOHO China Ltd. 96,500 49,551 
Sunac China Holdings Ltd. 102,000 433,268 
Sunny Optical Technology Group Co. Ltd. 30,100 491,161 
TAL Education Group ADR 13,499 491,634 
Tarena International, Inc. ADR (b) 541 5,470 
Tencent Holdings Ltd. 238,725 11,736,401 
Texhong Textile Group Ltd. 1,500 2,090 
The United Laboratories International Holdings Ltd. (a) 40,000 43,394 
Tianneng Power International Ltd. 12,000 17,315 
Tibet Water Resources Ltd. (a) 157,000 67,619 
Tingyi (Cayman Islands) Holding Corp. 78,000 146,843 
Tongda Group Holdings Ltd. 100,000 22,148 
Towngas China Co. Ltd. 81,421 72,559 
TPK Holding Co. Ltd. (a) 9,000 19,595 
Truly International Holdings Ltd. 70,000 15,906 
Tuniu Corp. Class A sponsored ADR (a)(b) 220 1,364 
Value Partners Group Ltd. 32,000 30,269 
Vinda International Holdings Ltd. 26,000 44,947 
Vipshop Holdings Ltd. ADR (a) 16,334 252,850 
Vision Fame International Holding Ltd. (a) 10,000 283 
Want Want China Holdings Ltd. 213,000 188,222 
Weibo Corp. sponsored ADR (a)(b) 2,071 237,171 
WH Group Ltd. (c) 377,500 390,817 
Wharf Real Estate Investment Co. Ltd. 47,000 352,394 
Wynn Macau Ltd. 62,800 232,069 
Xingda International Holdings Ltd. 12,674 4,527 
Xinyi Glass Holdings Ltd. 86,000 123,634 
Xinyi Solar Holdings Ltd. 149,200 67,983 
XTEP International Holdings Ltd. 46,500 27,015 
Yeong Guan Energy Technology Group Co. Ltd. 1,000 2,717 
Yihai International Holding Ltd. 25,000 34,151 
Yirendai Ltd. sponsored ADR (b) 475 16,753 
Yuzhou Properties Co. 59,000 42,918 
YY, Inc. ADR (a) 1,989 191,720 
Zhen Ding Technology Holding Ltd. 47,000 102,089 
Zhongsheng Group Holdings Ltd. Class H 41,000 117,534 
Zhou Hei Ya International Holdings Co. Ltd. 27,000 23,712 
TOTAL CAYMAN ISLANDS  45,891,115 
Chile - 0.3%   
AES Gener SA 171,111 47,983 
Aguas Andinas SA 126,713 84,286 
Banco de Chile 854,252 141,127 
Banco de Credito e Inversiones 1,714 129,729 
Banco Santander Chile 3,040,447 253,800 
CAP SA 1,737 20,135 
Cencosud SA 55,231 164,236 
Colbun SA 367,700 91,421 
Compania Cervecerias Unidas SA 5,132 71,091 
Compania de Petroleos de Chile SA (COPEC) 15,088 245,989 
Compania Sud Americana de Vapores SA (a) 953,281 42,678 
CorpBanca SA 5,823,430 59,529 
E-CL SA 28,960 62,490 
Empresa Nacional de Electricidad SA 128,609 102,219 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 7,797 92,022 
Empresas CMPC SA 52,472 215,411 
Enel Chile SA 1,008,736 125,007 
Enersis SA 1,077,071 245,842 
Forus SA 3,734 14,002 
Inversiones Aguas Metropolitanas SA 6,282 11,840 
Inversiones La Construccion SA 1,901 37,657 
LATAM Airlines Group SA 14,348 220,100 
Parque Arauco SA 28,812 89,908 
Ripley Corp. SA 21,855 23,695 
S.A.C.I. Falabella 29,148 282,707 
Salfacorp SA 18,503 35,446 
Sonda SA 38,859 71,590 
Vina Concha y Toro SA 11,812 26,961 
TOTAL CHILE  3,008,901 
China - 2.2%   
Agricultural Bank of China Ltd. (H Shares) 1,070,000 603,279 
Air China Ltd. (H Shares) 86,000 113,374 
Aluminum Corp. of China Ltd. (H Shares) (a) 144,000 81,329 
Anhui Conch Cement Co. Ltd. (H Shares) 50,500 315,195 
Anhui Expressway Co. Ltd. (H Shares) 2,000 1,479 
AviChina Industry & Technology Co. Ltd. (H Shares) 132,000 83,226 
Bank Communications Co. Ltd. (H Shares) 379,000 310,130 
Bank of China Ltd. (H Shares) 3,304,000 1,793,514 
Beijing Capital International Airport Co. Ltd. (H Shares) 70,000 95,338 
Beijing Capital Land Ltd. (H Shares) 74,000 39,410 
BYD Co. Ltd. (H Shares) 27,000 188,759 
CGN Power Co. Ltd. (H Shares) (c) 347,000 94,628 
China BlueChemical Ltd. (H Shares) 28,000 7,359 
China Cinda Asset Management Co. Ltd. (H Shares) 452,000 161,322 
China CITIC Bank Corp. Ltd. (H Shares) 376,000 268,783 
China Communications Construction Co. Ltd. (H Shares) 174,000 200,479 
China Communications Services Corp. Ltd. (H Shares) 142,000 89,150 
China Construction Bank Corp. (H Shares) 3,515,000 3,682,522 
China Everbright Bank Co. Ltd. (H Shares) 119,000 59,469 
China Galaxy Securities Co. Ltd. (H Shares) 145,000 95,241 
China Huarong Asset Management Co. Ltd. 456,000 157,050 
China Life Insurance Co. Ltd. (H Shares) 307,000 870,640 
China Longyuan Power Grid Corp. Ltd. (H Shares) 161,000 158,137 
China Merchants Bank Co. Ltd. (H Shares) 161,000 702,024 
China Minsheng Banking Corp. Ltd. (H Shares) 230,000 215,234 
China Molybdenum Co. Ltd. (H Shares) 168,000 126,247 
China National Building Materials Co. Ltd. (H Shares) 173,350 202,524 
China Oilfield Services Ltd. (H Shares) 86,000 85,802 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 111,400 491,572 
China Petroleum & Chemical Corp. (H Shares) 1,062,000 1,034,239 
China Railway Construction Corp. Ltd. (H Shares) 116,500 137,963 
China Railway Group Ltd. (H Shares) 168,000 134,657 
China Shenhua Energy Co. Ltd. (H Shares) 145,000 355,664 
China Southern Airlines Ltd. (H Shares) 108,000 116,290 
China Telecom Corp. Ltd. (H Shares) 530,000 256,908 
China Vanke Co. Ltd. (H Shares) 48,900 202,096 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 103,000 78,792 
CITIC Securities Co. Ltd. (H Shares) 96,500 235,241 
CRRC Corp. Ltd. (H Shares) 166,000 146,724 
Dongfeng Motor Group Co. Ltd. (H Shares) 132,000 145,970 
Fuyao Glass Industries Group Co. Ltd. 36,000 123,735 
GF Securities Co. Ltd. (H Shares) 55,400 97,537 
Great Wall Motor Co. Ltd. (H Shares) 130,000 134,836 
Guangdong Kelon Electrical Holdings Ltd. Series H 9,000 9,140 
Guangzhou Automobile Group Co. Ltd. (H Shares) 94,000 172,181 
Guangzhou R&F Properties Co. Ltd. (H Shares) 40,400 96,055 
Haitong Securities Co. Ltd. (H Shares) 277,600 379,038 
Huadian Fuxin Energy Corp. Ltd. (H Shares) 292,000 82,866 
Huaneng Power International, Inc. (H Shares) 254,000 167,869 
Huaneng Renewables Corp. Ltd. (H Shares) 186,000 82,603 
Huatai Securities Co. Ltd. (H Shares) (c) 71,800 145,437 
Industrial & Commercial Bank of China Ltd. (H Shares) 3,081,000 2,704,753 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 11,500 14,904 
Jiangsu Expressway Co. Ltd. (H Shares) 56,000 76,783 
Jiangxi Copper Co. Ltd. (H Shares) 42,000 59,711 
Livzon Pharmaceutical Group, Inc. Class H 9,050 65,187 
Luoyang Glass Co. Ltd. Class H (a) 4,000 1,941 
New China Life Insurance Co. Ltd. (H Shares) 35,100 163,650 
People's Insurance Co. of China Group (H Shares) 321,000 151,122 
PetroChina Co. Ltd. (H Shares) 856,000 630,760 
PICC Property & Casualty Co. Ltd. (H Shares) 190,000 340,132 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 217,500 2,125,279 
Qingdao Port International Co. Ltd. (c) 84,000 69,012 
Shandong Chenming Paper Holdings Ltd. (H Shares) 36,500 55,422 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 160,000 98,326 
Shanghai Electric Group Co. Ltd. (H Shares) (a) 66,000 23,962 
Shanghai Environment Group Co. Ltd. 239 671 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 21,500 116,623 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 11,080 15,848 
Shanghai Pharma Holding Co. Ltd. (H Shares) 53,000 144,673 
Shanghai SMI Holding Co. Ltd. Class A (a) 861 1,004 
Shenzhen Expressway Co. (H Shares) 18,000 18,266 
Sichuan Expressway Co. Ltd. (H Shares) 4,000 1,381 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 234,000 155,378 
Sinopharm Group Co. Ltd. (H Shares) 52,000 219,270 
Sinotrans Ltd. (H Shares) 123,000 70,474 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 41,000 65,909 
TravelSky Technology Ltd. (H Shares) 43,000 125,604 
Tsingtao Brewery Co. Ltd. (H Shares) 24,000 124,258 
Weichai Power Co. Ltd. (H Shares) 82,000 94,927 
Xinhua Winshare Publishing and Media Co. Ltd. 2,000 1,561 
Yangtze Optical Fibre and Cable Co. Ltd. 9,000 38,102 
Yanzhou Coal Mining Co. Ltd. (H Shares) 84,000 105,111 
YiChang HEC ChangJiang Pharmaceutical Co. Ltd. 7,600 36,090 
Zhaojin Mining Industry Co. Ltd. (H Shares) 12,000 9,394 
Zhejiang Expressway Co. Ltd. (H Shares) 82,000 84,207 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 25,400 134,668 
Zijin Mng Group Co. Ltd. (H Shares) 366,000 166,017 
ZTE Corp. (H Shares) (d) 22,800 51,521 
TOTAL CHINA  23,990,958 
Colombia - 0.1%   
Almacenes Exito SA 14,313 86,420 
Bancolombia SA 21,565 254,884 
Cementos Argos SA 27,656 97,767 
Corporacion Financiera Colombiana SA 2,051 17,641 
Ecopetrol SA 192,597 212,553 
Grupo de Inversiones Suramerica SA (a) 7,349 101,982 
Interconexion Electrica SA ESP 14,282 73,623 
Inversiones Argos SA 10,667 75,950 
TOTAL COLOMBIA  920,820 
Curacao - 0.0%   
Sapiens International Corp. NV 128 1,143 
Czech Republic - 0.1%   
Ceske Energeticke Zavody A/S 7,957 203,481 
Komercni Banka A/S 5,475 236,364 
MONETA Money Bank A/S (c) 21,525 77,490 
Philip Morris CR A/S 2,299 
Telefonica Czech Rep A/S 636 8,702 
TOTAL CZECH REPUBLIC  528,336 
Denmark - 1.2%   
A.P. Moller - Maersk A/S:   
Series A 214 328,300 
Series B 221 356,626 
ALK-Abello A/S (a) 637 80,945 
Alm. Brand A/S 2,452 25,992 
Ambu A/S Series B 6,030 140,348 
Bang & Olufsen A/S Series B (a) 1,191 29,497 
Bavarian Nordic A/S (a) 2,538 69,706 
Carlsberg A/S Series B 4,692 525,803 
Christian Hansen Holding A/S 4,169 379,215 
Coloplast A/S Series B 4,966 420,688 
Dampskibsselskabet NORDEN A/S (a) 849 15,563 
Danske Bank A/S 30,954 1,080,683 
Det Forenede Dampskibs-Selskab (DFDS) A/S 1,124 70,249 
DONG Energy A/S (c) 7,692 507,547 
DSV de Sammensluttede Vognmaend A/S 7,627 606,110 
FLSmidth & Co. A/S 2,145 132,948 
Genmab A/S (a) 2,494 506,100 
GN Store Nord A/S 5,940 209,306 
H Lundbeck A/S 2,649 154,139 
ISS Holdings A/S 6,143 215,065 
Jyske Bank A/S (Reg.) 3,590 215,818 
Matas A/S 555 6,405 
Nilfisk Holding A/S (a) 895 43,954 
NKT Holding A/S (a) 895 26,735 
NNIT A/S (c) 144 4,000 
Novo Nordisk A/S Series B 78,210 3,678,056 
Novozymes A/S Series B 9,048 425,372 
Pandora A/S 4,577 509,949 
Per Aarsleff Holding A/S 597 22,401 
Rockwool International A/S Series B 434 131,121 
Royal Unibrew A/S 3,095 205,675 
Scandinavian Tobacco Group A/S (c) 2,074 34,692 
Schouw & Co. 239 23,572 
SimCorp A/S 1,584 115,327 
Solar Holding A/S 506 32,641 
Spar Nord Bank A/S 3,353 38,423 
Sydbank A/S 2,122 78,693 
Topdanmark A/S 1,843 86,987 
Tryg A/S 8,891 211,117 
Vestas Wind Systems A/S 9,045 585,138 
William Demant Holding A/S (a) 4,491 175,572 
Zealand Pharma A/S (a) 117 1,767 
TOTAL DENMARK  12,508,245 
Egypt - 0.0%   
Commercial International Bank SAE 46,651 249,043 
Commercial International Bank SAE sponsored GDR 4,042 20,735 
EFG-Hermes Holding SAE 38,721 56,585 
Global Telecom Holding (a) 150,711 43,280 
Talaat Moustafa Group Holding 60,089 45,777 
TOTAL EGYPT  415,420 
Faroe Islands - 0.0%   
Bakkafrost 2,420 139,065 
Finland - 0.8%   
Amer Group PLC (A Shares) 4,498 137,967 
Atria PLC 200 2,855 
Cargotec Corp. (B Shares) 2,064 105,482 
Caverion Corp. (a) 2,301 19,270 
Citycon Oyj 28,504 65,366 
Cramo Oyj (B Shares) 1,158 27,241 
DNA Oyj 2,836 66,509 
Elisa Corp. (A Shares) 6,492 287,875 
F-Secure Oyj 5,468 24,465 
Finnair Oyj 1,883 25,763 
Fortum Corp. 17,779 410,290 
Huhtamaki Oyj 3,964 161,990 
KCI Konecranes Oyj 4,614 189,332 
Kemira Oyj 7,197 96,645 
Kesko Oyj 2,307 135,675 
Kone Oyj (B Shares) 13,885 691,828 
M-real OYJ (B Shares) 8,512 95,698 
Metso Corp. 5,962 213,039 
Neste Oyj 5,200 438,938 
Nokia Corp. 243,468 1,460,861 
Nokian Tyres PLC 4,599 184,662 
Oriola-KD Oyj 973 3,284 
Orion Oyj (B Shares) 4,494 136,651 
Outokumpu Oyj (A Shares) 13,806 89,696 
Outotec Oyj (a) 8,111 74,108 
Ramirent Oyj 2,531 22,098 
Sampo Oyj (A Shares) 17,922 968,507 
Sanoma Corp. 1,800 20,085 
Stora Enso Oyj (R Shares) 21,110 418,968 
Technopolis PLC 6,225 29,205 
TietoEnator Oyj 1,630 58,540 
Tikkurila Oyj 2,101 38,007 
UPM-Kymmene Corp. 21,513 771,060 
Uponor Oyj 2,335 40,858 
Valmet Corp. 7,960 151,493 
Wartsila Corp. 17,985 383,335 
YIT-Yhtyma OY 8,356 56,306 
TOTAL FINLAND  8,103,952 
France - 6.4%   
Accor SA 7,293 412,785 
Aeroports de Paris 1,217 268,064 
Air France KLM (Reg.) (a) 8,456 82,872 
Air Liquide SA 17,629 2,291,354 
Albioma 2,463 60,974 
ALD SA (c) 4,158 70,397 
Alstom SA 6,680 304,198 
Altamir 3,837 64,592 
ALTEN 1,609 159,911 
Altran Technologies SA 12,815 198,085 
Amundi SA (c) 2,337 198,906 
Arkema SA 2,957 387,440 
Atos Origin SA 3,787 511,739 
AXA SA 80,882 2,313,117 
Beneteau SA 896 20,299 
BIC SA 1,184 120,746 
bioMerieux SA 1,517 120,175 
BNP Paribas SA 46,485 3,591,536 
Boiron SA 91 8,121 
Bollore SA 34,121 169,680 
Bollore SA (a) 114 563 
Bonduelle SCA 885 39,436 
Bourbon Corp. (FR) 123 772 
Bouygues SA 9,337 476,384 
Bureau Veritas SA 11,443 299,172 
Capgemini SA 6,828 939,986 
Carbone Lorraine 628 29,577 
Carrefour SA 23,978 493,263 
Casino Guichard Perrachon SA 3,166 164,247 
Cellectis SA (a) 1,245 36,047 
CNP Assurances 7,161 183,676 
Coface SA 2,815 35,762 
Compagnie de St. Gobain 20,085 1,054,956 
Compagnie Plastic Omnium 2,073 99,734 
Credit Agricole SA 46,555 766,557 
Danone SA 24,401 1,976,623 
Dassault Aviation SA 104 207,852 
Dassault Systemes SA 5,277 683,451 
DBV Technologies SA (a) 575 25,603 
Derichebourg 8,793 77,886 
Devoteam SA 336 35,869 
Direct Energie 171 8,735 
Edenred SA 9,360 322,139 
EDF SA 23,605 332,088 
Eiffage SA 3,187 379,859 
Elior SA 4,725 96,601 
Elis SA 6,172 147,725 
ENGIE 74,770 1,313,752 
Eramet SA 371 64,560 
Essilor International SA 8,525 1,163,826 
Etablissements Maurel & Prom (a) 1,764 10,161 
Eurazeo SA 2,191 192,618 
Europcar Groupe SA (c) 6,506 75,974 
Eutelsat Communications 7,968 172,621 
Faurecia SA 3,284 268,878 
Fonciere des Regions 1,582 177,001 
Fonciere Financiere et Part SA 45 5,445 
Gaztransport et Technigaz SA 1,527 94,690 
Gecina SA 1,844 319,771 
Genfit (a) 2,027 57,523 
Groupe Eurotunnel SA 19,928 281,320 
Groupe FNAC SA (a) 809 86,948 
Guerbet 96 6,086 
Hermes International SCA 1,248 807,496 
ICADE 1,598 158,914 
ID Logistics Group (a) 90 16,042 
Iliad SA 1,043 209,018 
Imerys SA 1,969 179,759 
Industrielle d'Aviation Latecoere SA (a) 2,438 15,839 
Ingenico SA 2,349 205,374 
Innate Pharma SA (a) 267 2,049 
Interparfums SA 946 43,696 
Ipsen SA 1,554 252,404 
Ipsos SA 1,876 71,362 
JCDecaux SA 3,321 118,789 
Kaufman & Broad SA 525 27,680 
Kering SA 3,157 1,828,424 
Klepierre SA 10,054 411,830 
Korian 1,340 46,927 
L'Oreal SA 10,426 2,503,609 
Lagardere S.C.A. (Reg.) 7,139 204,147 
Legrand SA 11,810 919,883 
LVMH Moet Hennessy - Louis Vuitton SA 11,606 4,039,029 
M6 Metropole Television SA 1,456 35,869 
Maisons du Monde SA (c) 3,400 138,285 
Marie Brizard Wine & Spirits SA (a) 69 666 
Mercialys SA 611 11,695 
Mgi Coutier SA 398 13,746 
Michelin CGDE Series B 7,205 1,014,073 
Natixis SA 35,887 295,213 
Naturex SA (a) 330 53,559 
Neopost SA 1,872 50,548 
Nexans SA 1,598 84,504 
Nexity 2,123 132,673 
Orange SA 81,126 1,474,841 
Orpea 2,018 259,168 
Pernod Ricard SA 8,628 1,433,157 
Peugeot Citroen SA 23,869 588,590 
Publicis Groupe SA 8,366 626,372 
Rallye SA 2,857 44,644 
Remy Cointreau SA 1,397 192,489 
Renault SA 8,002 868,143 
Rexel SA 13,116 203,530 
Rubis 3,651 284,377 
Safran SA 13,866 1,626,346 
Sanofi SA 47,552 3,759,572 
Sartorius Stedim Biotech 1,227 114,686 
Schneider Electric SA 23,222 2,111,069 
SCOR SE 7,815 317,568 
SEB SA 1,105 212,036 
Societe Generale Series A 31,712 1,735,559 
Sodexo SA 3,702 366,603 
Soitec SA (a) 756 61,624 
Solocal Group SA (a) 14,049 18,051 
Sopra Steria Group 487 104,035 
SPIE SA 3,549 80,273 
SR Teleperformance SA 2,537 407,163 
Suez Environnement SA 16,167 233,498 
Tarkett SA 1,239 36,627 
Technicolor SA 20,446 33,505 
Television Francaise 1 SA 1,024 12,799 
Thales SA 4,454 564,758 
The Lisi Group 665 24,573 
The Vicat Group 748 55,146 
Total SA 98,606 6,197,560 
Trigano SA 572 108,033 
Ubisoft Entertainment SA (a) 3,099 296,103 
Unibail-Rodamco 4,202 1,009,285 
Valeo SA 9,633 644,923 
Vallourec SA (a) 16,137 97,435 
Veolia Environnement SA 19,827 470,601 
VINCI SA 20,785 2,078,161 
Virbac SA (a) 278 43,374 
Vivendi SA 43,002 1,136,731 
Wendel SA 1,990 300,871 
Worldline SA (a)(c) 1,845 93,087 
TOTAL FRANCE  68,780,796 
Germany - 5.9%   
Aareal Bank AG 2,116 105,993 
adidas AG 7,907 1,946,938 
ADLER Real Estate AG 2,189 40,656 
ADVA Optical Networking SE (a) 851 5,878 
Aixtron AG (a) 5,391 77,178 
Allianz SE 18,127 4,287,469 
alstria office REIT-AG 3,893 58,577 
Amadeus Fire AG 1,455 159,365 
AURELIUS AG 1,111 84,322 
Aurubis AG 1,904 170,422 
Axel Springer Verlag AG 1,782 146,009 
BASF AG 37,876 3,940,751 
Bayer AG 34,571 4,131,912 
Bayerische Motoren Werke AG (BMW) 13,508 1,508,395 
BayWa AG 32 1,119 
Bechtle AG 880 74,654 
Beiersdorf AG 4,168 472,725 
Bertrandt AG 366 40,994 
Bilfinger Berger AG 2,584 123,569 
Borussia Dortmund GmbH & Co. KGaA 872 5,771 
Brenntag AG 7,351 421,838 
CANCOM AG 1,324 156,209 
Capital Stage AG 315 2,541 
Carl Zeiss Meditec AG 1,600 108,781 
CENTROTEC Sustainable AG 123 1,976 
CeWe Color Holding AG 417 42,753 
Comdirect Bank AG 2,144 32,882 
Commerzbank AG (a) 46,037 595,415 
CompuGroup Medical AG 1,498 78,221 
Continental AG 4,414 1,179,073 
Covestro AG (c) 6,550 597,663 
CTS Eventim AG 2,210 103,656 
Daimler AG (Germany) 39,903 3,156,240 
Deutsche Bank AG 85,571 1,174,512 
Deutsche Beteiligungs AG 642 28,608 
Deutsche Borse AG 7,982 1,073,492 
Deutsche EuroShop AG 1,688 60,745 
Deutsche Lufthansa AG 9,250 269,986 
Deutsche Pfandbriefbank AG 4,672 75,827 
Deutsche Post AG 39,154 1,699,458 
Deutsche Telekom AG 137,115 2,400,009 
Deutsche Wohnen AG (Bearer) 14,644 692,155 
Deutz AG 4,320 41,943 
DIC Asset AG 3,887 47,972 
Draegerwerk AG & Co. KGaA 391 24,081 
Drillisch AG 2,173 157,709 
Duerr AG 954 95,021 
E.ON AG 91,459 1,001,455 
ElringKlinger AG 491 8,930 
Evonik Industries AG 7,741 275,580 
Evotec OAI AG (a) 4,936 80,261 
Fraport AG Frankfurt Airport Services Worldwide 2,005 194,668 
Freenet AG 6,840 217,403 
Fresenius Medical Care AG & Co. KGaA 8,605 873,157 
Fresenius SE & Co. KGaA 17,195 1,315,235 
GEA Group AG 8,720 341,286 
Gerresheimer AG 1,290 105,308 
Gerry Weber International AG (Bearer) 514 4,910 
GFT Technologies AG 96 1,530 
Gildemeister AG 444 25,602 
Grammer AG 182 11,758 
Grenkeleasing AG 1,106 130,689 
Hamborner (REIT) AG 941 10,591 
Hamburger Hafen und Logistik AG 695 16,760 
Hannover Reuck SE 2,582 363,562 
Hapag-Lloyd AG (c) 1,740 74,804 
HeidelbergCement Finance AG 6,241 612,427 
Heidelberger Druckmaschinen AG (a) 8,478 31,615 
Henkel AG & Co. KGaA 5,694 679,012 
Hochtief AG 848 155,245 
Hugo Boss AG 2,714 254,984 
Hypoport AG (a) 95 18,356 
INDUS Holding AG 2,205 158,168 
Infineon Technologies AG 47,672 1,220,676 
Innogy SE (c) 5,772 254,624 
Isra Vision AG 142 31,449 
Jenoptik AG 2,582 94,164 
JOST Werke AG (c) 1,747 73,733 
K&S AG 7,710 227,272 
KION Group AG 2,882 241,185 
Kloeckner & Co. AG 1,682 20,515 
Koenig & Bauer AG 443 36,431 
Krones AG 1,018 130,801 
KWS Saat AG 159 57,507 
Lanxess AG 4,110 305,537 
LEG Immobilien AG 2,424 279,667 
LEONI AG 1,042 65,508 
Linde AG 4,173 927,486 
Linde AG 3,533 762,841 
MAN SE 1,147 132,279 
Merck KGaA 5,107 500,901 
Metro AG 7,672 86,125 
Metro Wholesale & Food Specialist AG 8,065 117,018 
Morphosys AG (a) 1,288 133,763 
MTU Aero Engines Holdings AG 2,120 366,096 
Muenchener Rueckversicherungs AG 6,350 1,456,586 
Nemetschek Se 881 106,177 
Nordex Se (a) 3,712 42,674 
NORMA Group AG 1,946 143,232 
Open Business Club AG 308 95,775 
OSRAM Licht AG 4,788 276,206 
Patrizia Immobilien AG 1,942 38,883 
Pfeiffer Vacuum Technology AG 438 64,847 
ProSiebenSat.1 Media AG 9,268 336,225 
Rational AG 109 68,381 
Rheinmetall AG 1,629 213,734 
Rhoen-Klinikum AG 1,417 46,373 
RIB Software AG 1,289 34,214 
Rocket Internet AG (a)(c) 3,491 102,358 
RWE AG 21,399 513,598 
Salzgitter AG 1,973 108,575 
SAP SE 40,895 4,543,667 
Schaeffler AG 8,469 131,572 
Scout24 AG (c) 3,622 187,816 
SGL Carbon AG (a) 4,281 57,746 
Siemens AG 31,471 3,996,656 
Siemens Healthineers AG (a)(c) 6,295 245,425 
Siltronic AG 956 154,352 
Sixt AG 641 75,666 
SLM Solutions Group AG (a) 214 8,657 
SMA Solar Technology AG 508 31,379 
Software AG (Bearer) 1,794 88,521 
Stada Arzneimittel AG 1,016 102,865 
STRATEC Biomedical Systems AG 452 41,211 
Stroer Out-of-Home Media AG 1,286 94,343 
Suedzucker AG (Bearer) 2,957 49,242 
SURTECO SE 60 1,924 
Symrise AG 5,708 462,519 
TAG Immobilien AG 6,316 133,400 
Takkt AG 3,255 67,373 
Telefonica Deutschland Holding AG 28,476 136,209 
Thyssenkrupp AG 17,518 456,942 
TLG Immobilien AG 4,568 131,509 
TUI AG (GB) 17,832 403,959 
Uniper SE 8,224 254,937 
United Internet AG 4,775 310,111 
Volkswagen AG 802 163,287 
Vonovia SE 19,899 999,890 
Vossloh AG 228 11,564 
VTG AG 485 27,820 
Wacker Chemie AG 681 122,945 
Wacker Construction Equipment AG 1,721 55,532 
WashTec AG 1,456 140,485 
Wirecard AG 4,852 662,684 
Wustenrot & Wurttembergische AG 727 17,559 
Zalando SE (a)(c) 4,689 242,069 
Zooplus AG (a) 285 59,197 
TOTAL GERMANY  63,049,208 
Gibraltar - 0.0%   
888 Holdings PLC 26,779 100,941 
Greece - 0.1%   
Aegean Airlines SA 3,180 35,906 
Alpha Bank AE (a) 55,018 145,503 
Athens Water Supply & Sewage Co. SA 2,077 14,924 
EFG Eurobank Ergasias SA (a) 83,144 105,325 
Ff Group (a) 881 16,703 
Greek Organization of Football Prognostics SA 10,412 124,855 
Grivalia Properties REIC 251 2,764 
Hellenic Exchanges Holding SA 387 2,430 
Hellenic Petroleum SA 969 9,888 
Hellenic Telecommunications Organization SA 9,546 138,909 
Holding Co. ADMIE IPTO SA 446 996 
Jumbo SA 4,974 91,060 
Motor Oil (HELLAS) Corinth Refineries SA 2,470 58,999 
Mytilineos Holdings SA 4,722 57,023 
National Bank of Greece SA (a) 233,552 97,585 
Piraeus Bank SA (a) 11,866 50,325 
Public Power Corp. of Greece (a) 8,918 29,443 
Titan Cement Co. SA (Reg.) 2,719 71,744 
TOTAL GREECE  1,054,382 
Hong Kong - 2.3%   
AIA Group Ltd. 505,600 4,518,648 
Bank of East Asia Ltd. 52,520 230,619 
Beijing Enterprises Holdings Ltd. 21,500 107,390 
Beijing Tong Ren Tang Chinese Medicine Co. Ltd. 2,000 3,422 
BOC Hong Kong (Holdings) Ltd. 150,000 775,429 
BYD Electronic International Co. Ltd. 33,000 50,319 
Champion (REIT) 69,000 48,746 
China Agri-Industries Holdings Ltd. 225,000 94,437 
China Everbright International Ltd. 83,000 116,420 
China Everbright Ltd. 124,000 272,870 
China Jinmao Holdings Group Ltd. 232,000 131,330 
China Merchants Holdings International Co. Ltd. 47,671 106,514 
China Minsheng Financial Holding Corp. Ltd. (a) 270,000 8,136 
China Mobile Ltd. 254,000 2,419,730 
China Overseas Grand Oceans Group Ltd. 106,500 46,231 
China Overseas Land and Investment Ltd. 156,000 522,699 
China Power International Development Ltd. 70,666 18,943 
China Resources Beer Holdings Co. Ltd. 64,666 278,512 
China Resources Pharmaceutical Group Ltd. 124,500 172,116 
China Resources Power Holdings Co. Ltd. 106,000 203,320 
China South City Holdings Ltd. 176,000 38,267 
China Taiping Insurance Group Ltd. 63,600 212,689 
China Travel International Investment HK Ltd. 158,000 58,910 
China Unicom Ltd. 254,000 359,168 
CITIC 1616 Holdings Ltd. 9,000 2,651 
CITIC Pacific Ltd. 265,000 404,125 
CLP Holdings Ltd. 63,000 654,197 
CNOOC Ltd. 732,000 1,238,334 
CSPC Pharmaceutical Group Ltd. 192,000 489,035 
Dah Sing Banking Group Ltd. 6,000 14,248 
Dah Sing Financial Holdings Ltd. 21,600 144,238 
Far East Horizon Ltd. 71,000 70,452 
Fosun International Ltd. 122,500 260,312 
Fushan International Energy Group Ltd. 94,000 23,043 
Galaxy Entertainment Group Ltd. 100,000 875,263 
Guangdong Investment Ltd. 114,000 176,453 
Guotai Junan International Holdings Ltd. 205,000 61,251 
GZI (REIT) 10,000 6,675 
Hang Lung Group Ltd. 44,000 132,903 
Hang Lung Properties Ltd. 101,000 239,024 
Hang Seng Bank Ltd. 31,400 795,359 
Henderson Land Development Co. Ltd. 44,500 282,155 
Hong Kong & China Gas Co. Ltd. 320,630 669,939 
Hong Kong Exchanges and Clearing Ltd. 49,478 1,602,817 
Hopewell Holdings Ltd. 35,000 124,156 
Hua Hong Semiconductor Ltd. (c) 16,000 36,104 
Hysan Development Co. Ltd. 37,000 215,346 
Lai Sun Development Co. Ltd. 7,800 12,051 
Lenovo Group Ltd. 360,000 170,920 
Link (REIT) 91,500 808,689 
Mason Financial Holdings Ltd. (a) 682,000 17,961 
Melco International Development Ltd. 35,000 129,582 
MMG Ltd. (a) 124,000 91,992 
MTR Corp. Ltd. 64,148 360,432 
New World Development Co. Ltd. 225,318 330,434 
PCCW Ltd. 177,000 109,413 
Poly Property Group Co. Ltd. 135,000 62,746 
Power Assets Holdings Ltd. 59,500 442,730 
Prosperity (REIT) 13,000 5,361 
Regal (REIT) 52,000 16,082 
Shanghai Industrial Holdings Ltd. 68,000 178,316 
Shenzhen Investment Ltd. 135,290 54,679 
Shun Tak Holdings Ltd. 22,000 9,055 
Sino Land Ltd. 156,632 270,374 
Sino-Ocean Group Holding Ltd. 103,000 71,519 
Sinotrans Shipping Ltd. 24,000 6,215 
Sinotruk Hong Kong Ltd. 21,000 24,604 
SJM Holdings Ltd. 62,000 62,101 
Sun Art Retail Group Ltd. 99,055 111,333 
Sun Hung Kai Properties Ltd. 61,000 982,371 
Sunlight (REIT) 13,000 8,798 
Swire Pacific Ltd. (A Shares) 21,500 212,448 
Swire Properties Ltd. 51,200 181,734 
Techtronic Industries Co. Ltd. 61,500 360,279 
Television Broadcasts Ltd. 35,100 111,392 
Universal Medical Financial & Technical Advisory Services Co. Ltd. 109,500 101,002 
Wharf Holdings Ltd. 47,000 156,362 
Wheelock and Co. Ltd. 29,000 215,157 
Winteam Pharmaceutical Group Ltd. 98,000 84,269 
Yuexiu Property Co. Ltd. 614,000 138,139 
TOTAL HONG KONG  25,211,485 
Hungary - 0.1%   
Magyar Telekom PLC 19,742 34,197 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 17,864 206,429 
OTP Bank PLC 9,300 406,312 
Richter Gedeon PLC 7,820 158,183 
TOTAL HUNGARY  805,121 
India - 2.3%   
ACC Ltd. 1,138 27,113 
Adani Enterprises Ltd. (a) 7,611 15,919 
Adani Green Energy Ltd. (a)(d) 5,791 2,039 
Adani Ports & Special Economic Zone Ltd. 25,618 156,708 
Adani Power Ltd. (a) 7,256 2,787 
Aditya Birla Fashion and Retail Ltd. (a) 10,575 23,228 
AIA Engineering Ltd. 1,908 41,437 
Ajanta Pharma Ltd. (a) 286 5,822 
Alembic Pharmaceuticals Ltd. (a) 109 876 
Ambuja Cements Ltd. 38,240 143,933 
Apollo Hospitals Enterprise Ltd. 2,665 43,684 
Apollo Tyres Ltd. (a) 8,706 38,485 
Arvind Mills Ltd. 13,319 84,477 
Ashok Leyland Ltd. 51,543 127,013 
Asian Paints Ltd. 13,344 240,790 
Aurobindo Pharma Ltd. 20,434 196,963 
Axis Bank Ltd. 76,569 593,598 
Bajaj Auto Ltd. 3,399 150,476 
Bajaj Finance Ltd. 7,306 208,871 
Bajaj Finserv Ltd. 2,557 210,357 
Balkrishna Industries Ltd. 4,756 91,085 
Bayer CropScience Ltd. (a) 495 34,953 
Bharat Forge Ltd. 6,714 77,970 
Bharat Heavy Electricals Ltd. 76,058 100,024 
Bharat Petroleum Corp. Ltd. 33,002 191,756 
Bharti Airtel Ltd. 55,642 341,692 
Bharti Infratel Ltd. 20,626 97,074 
Biocon Ltd. 4,778 47,837 
Blue Dart Express Ltd. 43 2,380 
Bosch Ltd. 269 78,369 
Britannia Industries Ltd. 2,274 188,576 
Cadila Healthcare Ltd. (a) 7,464 46,218 
Canara Bank Ltd. (a) 4,410 17,514 
CEAT Ltd. (a) 225 5,361 
CESC Ltd. GDR 2,216 35,274 
Cg Power & Industrial Soluti (a) 2,315 2,904 
Cipla Ltd. (a) 13,850 126,164 
Coal India Ltd. 35,637 152,543 
Container Corp. of India Ltd. 1,806 35,345 
Credit Analysis & Research Ltd. 132 2,525 
CRISIL Ltd. 197 5,564 
Crompton Greaves Consumer Electricals Ltd. 24,968 88,169 
Dabur India Ltd. 16,701 92,612 
Dalmia Bharat Ltd. 1,087 49,765 
Dewan Housing Finance Corp. Ltd. (a) 3,711 35,562 
Dish TV India Ltd. (a) 40,221 45,377 
Divi's Laboratories Ltd. 3,870 69,524 
Dr. Reddy's Laboratories Ltd. 5,664 179,986 
eClerx Services Ltd. 3,082 61,695 
Edelweiss Financial Services Ltd. 22,487 96,263 
Eicher Motors Ltd. 565 263,983 
Engineers India Ltd. 1,276 3,041 
Escorts Ltd. (a) 1,831 27,540 
Eveready Industries India Ltd. (a) 848 3,994 
Exide Industries Ltd. 4,874 18,111 
Federal Bank Ltd. 81,955 120,697 
Finolex Cables Ltd. (a) 6,357 66,726 
Fortis Healthcare Ltd. (a) 23,747 53,890 
GAIL India Ltd. 37,559 183,360 
Ge Power India Ltd. 330 4,213 
Gillette India Ltd. 57 5,598 
Glenmark Pharmaceuticals Ltd. 4,056 34,836 
GMR Infrastructure Ltd. (a) 75,851 23,257 
Godrej Consumer Products Ltd. 13,557 227,177 
Godrej Industries Ltd. (a) 184 1,653 
Godrej Properties Ltd. (a) 1,455 17,579 
Grasim Industries Ltd. 15,088 247,388 
Great Eastern Shipping Co. Ltd. 242 1,336 
Gruh Finance Ltd. 2,647 26,824 
Havells India Ltd. 11,747 96,344 
HCL Technologies Ltd. 22,415 354,369 
Hero Motocorp Ltd. 2,322 130,072 
Hindalco Industries Ltd. 56,883 200,131 
Hindustan Petroleum Corp. Ltd. 26,819 122,448 
Hindustan Unilever Ltd. 28,422 643,150 
Housing Development Finance Corp. Ltd. 63,044 1,783,705 
ICICI Bank Ltd. 101,242 432,677 
Idea Cellular Ltd. (a) 94,641 98,169 
IDFC Bank Ltd. 86,760 62,846 
Iifl Holdings Ltd. 6,651 76,691 
India Cements Ltd. (a) 5,046 11,097 
Indiabulls Housing Finance Ltd. 12,078 236,472 
Indiabulls Real Estate Ltd. (a) 6,400 20,574 
Indiabulls Ventures Ltd. 2,925 21,079 
Indian Oil Corp. Ltd. 52,614 127,912 
Info Edge India Ltd. 1,648 30,719 
Infosys Ltd. 73,891 1,330,477 
Ipca Laboratories Ltd. 338 3,812 
IRB Infrastructure Developers Ltd. 3,943 16,673 
ITC Ltd. 148,321 626,805 
Jain Irrigation Systems Ltd. 18,440 32,172 
Jaiprakash Associates Ltd. (a) 29,089 8,621 
Jindal Steel & Power Ltd. (a) 11,118 41,802 
JSW Steel Ltd. 48,330 234,995 
Jubilant Foodworks Ltd. 2,417 91,871 
Jubilant Life Sciences Ltd. 3,486 46,015 
Kajaria Ceramics Ltd. 1,102 9,023 
KRBL Ltd. (a) 9,953 66,860 
Larsen & Toubro Infotech Ltd. (c) 2,045 48,104 
Larsen & Toubro Ltd. 22,086 464,285 
LIC Housing Finance Ltd. 16,370 134,025 
Lupin Ltd. (a) 11,425 139,157 
Mahindra & Mahindra Financial Services Ltd. (a) 13,932 110,297 
Mahindra & Mahindra Ltd. 31,122 407,552 
Manappuram General Finance & Leasing Ltd. 13,651 24,978 
Marico Ltd. 20,309 101,321 
Maruti Suzuki India Ltd. 4,674 617,916 
Max Financial Services Ltd. (a) 4,104 31,787 
MindTree Consulting Ltd. 7,309 118,730 
Motherson Sumi Systems Ltd. 35,821 189,790 
Motilal Oswal Financial Services Ltd. 1,131 16,640 
Mphasis BFL Ltd. 6,859 106,624 
Multi Commodity Exchange of India Ltd. (a) 182 2,125 
Muthoot Finance Ltd. 3,598 24,280 
Natco Pharma Ltd. 2,653 32,128 
Ncc Ltd. 52,013 103,861 
Nestle India Ltd. 842 118,970 
NTPC Ltd. 89,999 232,702 
Oberoi Realty Ltd. 3,854 31,753 
Oil & Natural Gas Corp. Ltd. 48,393 131,163 
Page Industries Ltd. 209 75,793 
PC Jeweller Ltd. 6,790 14,700 
Persistent Systems Ltd. 3,130 37,924 
Petronet LNG Ltd. 34,504 117,476 
Pfizer Ltd. 47 1,608 
PI Industries Ltd. 3,093 40,315 
Piramal Enterprises Ltd. (a) 4,494 175,272 
Power Finance Corp. Ltd. 51,449 67,780 
Prestige Estates Projs. Ltd. (a) 4,180 19,142 
PVR Ltd. (a) 153 3,309 
Rajesh Exports Ltd. 5,672 58,138 
RBL Bank Ltd. (c) 3,501 27,805 
Redington India Ltd. (a) 14,319 29,711 
Reliance Capital Ltd. (a) 4,711 30,674 
Reliance Communication Ltd. (a) 61,971 14,168 
Reliance Industries Ltd. 119,191 1,720,927 
Reliance Infrastructure Ltd. (a) 5,715 38,529 
Repco Home Finance Ltd. 83 802 
Rural Electrification Corp. Ltd. 47,953 91,702 
Sadbhav Engineering Ltd. (a) 12,879 73,768 
Sanofi India Ltd. 25 1,826 
Shree Cement Ltd. 378 96,148 
Shriram Transport Finance Co. Ltd. 7,508 181,247 
Siemens India Ltd. 8,788 148,057 
Sintex Plastics Technology Ltd. 15,333 12,362 
Solara Active Pharma Sciences Ltd. (a)(d) 211 401 
State Bank of India 75,196 277,841 
Strides Shasun Ltd. (a) 1,270 12,149 
Sun Pharmaceutical Industries Ltd. 46,980 372,704 
Sundaram Finance Holdings Ltd. (a) 109 240 
Sundaram Finance Ltd. 2,407 64,003 
Supreme Industries Ltd. 796 16,519 
Suzlon Energy Ltd. (a) 45,292 7,384 
Symphony Ltd. 118 3,221 
Tata Communications Ltd. 3,714 34,721 
Tata Consultancy Services Ltd. 19,282 1,022,583 
Tata Global Beverages Ltd. 21,357 95,237 
Tata Motors Ltd. (a) 70,194 356,482 
Tata Motors Ltd. Class A (a) 10,557 30,254 
Tata Power Co. Ltd. 54,079 71,606 
Tata Steel Ltd. 16,694 148,500 
Tech Mahindra Ltd. 20,364 204,685 
The Indian Hotels Co. Ltd. (a) 43,561 96,385 
The Karur Vysya Bank Ltd. (a) 3,406 5,565 
The Ramco Cements Ltd. 1,219 15,060 
Thermax Ltd. (a) 2,019 34,463 
Titan Co. Ltd. (a) 12,408 182,809 
Tube Investments of India Ltd. (a) 4,001 43,444 
Tube Investments of India Ltd. 4,001 14,096 
Ultratech Cemco Ltd. 4,695 289,461 
United Spirits Ltd. (a) 2,436 132,391 
UPL Ltd. 16,282 178,264 
Vakrangee Ltd. 17,746 26,600 
Vedanta Ltd. 58,285 259,923 
Voltas Ltd. (a) 2,256 21,733 
WABCO India Ltd. 355 43,238 
Welspun India Ltd. (a) 12,290 10,541 
Whirlpool of India Ltd. 3,668 87,050 
Wipro Ltd. 43,615 181,772 
Yes Bank Ltd. 84,080 455,969 
Zee Entertainment Enterprises Ltd. (a) 24,074 212,617 
TOTAL INDIA  24,280,723 
Indonesia - 0.5%   
Kresna Graha Investama PT Tbk (a) 910,500 42,609 
PT ACE Hardware Indonesia Tbk 504,300 46,840 
PT Adaro Energy Tbk 650,000 85,118 
PT AKR Corporindo Tbk 192,600 67,440 
PT Aneka Tambang Tbk 460,400 27,671 
PT Astra International Tbk 846,000 433,006 
PT Bank Central Asia Tbk 414,800 655,916 
PT Bank Danamon Indonesia Tbk Series A 153,900 73,361 
PT Bank Jabar Banten Tbk 70,600 10,391 
PT Bank Mandiri (Persero) Tbk 836,700 423,834 
PT Bank Negara Indonesia (Persero) Tbk 321,200 184,920 
PT Bank Rakyat Indonesia Tbk 2,265,000 522,238 
PT Bank Tabungan Negara Tbk 237,600 52,951 
PT Bumi Resources Tbk (a) 644,000 11,030 
PT Bumi Serpong Damai Tbk 696,900 84,154 
PT Charoen Pokphand Indonesia Tbk 326,300 86,022 
PT Ciputra Development Tbk 790,100 62,152 
PT Global Mediacom Tbk 14,600 607 
PT Gudang Garam Tbk 20,800 103,332 
PT Hanjaya Mandala Sampoerna Tbk 363,900 92,210 
PT Hanson International Tbk (a) 3,268,900 32,984 
PT Indo Tambangraya Megah Tbk 15,300 25,928 
PT Indocement Tunggal Prakarsa Tbk 74,200 93,901 
PT Indofood CBP Sukses Makmur Tbk 72,600 45,104 
PT Indofood Sukses Makmur Tbk 336,500 168,240 
PT Japfa Comfeed Indonesia Tbk 148,500 16,083 
PT Jasa Marga Tbk 76,596 23,945 
PT Kalbe Farma Tbk 756,500 81,668 
PT Kawasan Industri Jababeka Tbk 137,171 2,422 
PT Link Net Tbk 30,500 11,880 
PT Lippo Karawaci Tbk 1,190,100 38,013 
PT Matahari Department Store Tbk 103,400 76,560 
PT Medco Energi International Tbk (a) 424,200 36,457 
PT Media Nusantara Citra Tbk 121,800 11,523 
PT Pakuwon Jati Tbk 1,383,800 58,493 
PT Pembangunan Perumahan Persero Tbk 253,258 43,959 
PT Perusahaan Gas Negara Tbk Series B 466,000 65,964 
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk 17,000 1,537 
PT PP Properti Tbk 481,000 5,508 
PT Semen Gresik (Persero) Tbk 127,500 88,062 
PT Sitara Propertindo Tbk (a) 49,100 2,842 
PT Sugih Energy Tbk (a) 40,500 145 
PT Summarecon Agung Tbk 748,400 48,421 
PT Surya Citra Media Tbk 295,600 54,107 
PT Tambang Batubara Bukit Asam Tbk 121,100 27,997 
PT Telekomunikasi Indonesia Tbk Series B 2,072,200 565,451 
PT Tower Bersama Infrastructure Tbk 79,000 31,464 
PT Unilever Indonesia Tbk 68,700 228,335 
PT United Tractors Tbk 64,900 158,348 
PT Waskita Karya Persero Tbk 144,500 22,826 
PT Wijaya Karya Persero Tbk 236,426 26,810 
PT XL Axiata Tbk (a) 52,900 8,018 
Siloam International Hospitals Tbk PT (a) 13,600 6,848 
TOTAL INDONESIA  5,175,645 
Ireland - 0.5%   
AIB Group PLC 30,718 183,324 
Bank Ireland Group PLC 36,052 324,346 
C&C Group PLC 8,159 30,741 
Cairn Homes PLC (a) 54,034 117,844 
CRH PLC 34,780 1,235,087 
Dalata Hotel Group PLC (a) 9,355 74,561 
DCC PLC (United Kingdom) 3,245 312,717 
Glanbia PLC 7,667 129,621 
Grafton Group PLC unit 13,297 137,661 
Green REIT PLC 65,016 119,183 
Greencore Group PLC 34,021 74,353 
Hibernia (REIT) PLC 17,950 32,168 
Irish Continental Group PLC unit 9,952 67,301 
Irish Residential Properties REIT PLC 974 1,602 
James Hardie Industries PLC CDI 16,875 298,003 
Kerry Group PLC Class A 6,332 646,131 
Kingspan Group PLC (Ireland) 6,852 310,293 
Origin Enterprises PLC 16,139 104,074 
Paddy Power Betfair PLC (Ireland) 3,544 350,724 
Permanent Tsb Group Hld PLC (a) 637 1,346 
Ryanair Holdings PLC sponsored ADR (a) 1,028 113,049 
Smurfit Kappa Group PLC 9,868 421,371 
United Drug PLC (United Kingdom) 14,682 184,946 
TOTAL IRELAND  5,270,446 
Isle of Man - 0.1%   
Gaming VC Holdings SA 20,754 255,005 
Genting Singapore PLC 250,100 219,117 
NEPI Rockcastle PLC 15,171 167,196 
Playtech Ltd. 11,330 126,437 
Redefine International PLC 5,476 2,797 
TOTAL ISLE OF MAN  770,552 
Israel - 0.4%   
Airport City Ltd. (a) 7,556 86,583 
Alony Hetz Properties & Investments Ltd. 1,835 16,316 
Amot Investments Ltd. 8,182 40,422 
Azrieli Group 1,294 59,362 
Bank Hapoalim BM (Reg.) 43,841 300,398 
Bank Leumi le-Israel BM 61,504 364,005 
Bezeq The Israel Telecommunication Corp. Ltd. 89,480 112,927 
Caesarstone Sdot-Yam Ltd. 1,088 20,074 
Cellcom Israel Ltd. (Israel) (a) 309 2,116 
Check Point Software Technologies Ltd. (a)(b) 5,657 545,957 
CyberArk Software Ltd. (a) 3,289 180,763 
Delek Group Ltd. 333 50,048 
Elbit Systems Ltd. (Israel) 1,014 117,348 
First International Bank of Israel 2,356 48,672 
Formula Systems (1985) Ltd. 126 4,345 
Frutarom Industries Ltd. 1,853 177,888 
Gazit-Globe Ltd. 1,653 15,662 
Harel Insurance Investments and Financial Services Ltd. 2,295 16,714 
Israel Chemicals Ltd. 32,652 146,795 
Israel Corp. Ltd. (Class A) 55 10,812 
Israel Discount Bank Ltd. (Class A) (a) 54,831 152,200 
Ituran Location & Control Ltd. 1,134 35,551 
Jerusalem Economy Ltd. (a) 1,266 3,087 
Jerusalem Oil Exploration Ltd. (a) 374 20,992 
Kornit Digital Ltd. (a)(b) 506 7,362 
Mazor Robotics Ltd. (a) 1,995 54,213 
Melisron Ltd. 1,481 60,698 
Migdal Insurance & Financial Holdings Ltd. 2,273 2,233 
Mizrahi Tefahot Bank Ltd. 5,565 101,916 
NICE Systems Ltd. (a) 2,394 227,097 
Oil Refineries Ltd. 46,046 19,985 
Orbotech Ltd. (a) 2,103 122,857 
Partner Communications Co. Ltd. (a) 7,712 31,843 
Paz Oil Co. Ltd. 313 45,929 
Plus500 Ltd. 3,162 61,336 
Radware Ltd. (a) 1,220 26,962 
Reit 1 Ltd. 24,285 97,776 
Shikun & Binui Ltd. 1,469 2,502 
SodaStream International Ltd. (a) 1,313 124,065 
Strauss Group Ltd. 3,837 79,140 
Teva Pharmaceutical Industries Ltd. sponsored ADR (b) 38,635 694,657 
Tower Semiconductor Ltd. (a) 5,008 131,735 
Wix.com Ltd. (a) 1,693 139,249 
TOTAL ISRAEL  4,560,592 
Italy - 1.6%   
A2A SpA 53,182 107,091 
ACEA SpA 1,409 24,791 
Amplifon SpA 2,447 45,802 
Anima Holding SpA (c) 11,868 85,561 
Ascopiave SpA 12,371 50,793 
Assicurazioni Generali SpA 49,765 1,006,011 
Astm SpA 2,401 66,252 
Atlantia SpA 18,896 627,517 
Autogrill SpA 4,595 58,819 
Azimut Holding SpA 6,722 141,488 
Banca Generali SpA 1,695 55,102 
Banca IFIS SpA 642 25,352 
Banca Mediolanum S.p.A. 16,321 131,264 
Banca Monte dei Paschi di Siena SpA (a) 12,845 41,602 
Banca Popolare dell'Emilia Romagna 23,378 135,284 
Banca Popolare di Sondrio SCARL 37,399 177,039 
Banco BPM SpA (a) 64,008 233,164 
Beni Stabili SpA SIIQ 8,733 8,273 
Biesse SpA 462 24,437 
Brembo SpA 8,193 121,200 
Brunello Cucinelli SpA 1,252 41,729 
Buzzi Unicem SpA 2,963 74,997 
Cerved Information Solutions SpA 10,444 126,878 
Compagnie Industriali Riunite SpA (CIR) 1,763 2,321 
Credito Emiliano SpA 3,458 30,400 
Credito Valtellinese SC (a) 328,946 51,164 
Danieli & C. Officine Meccaniche SpA 1,400 38,631 
Datalogic SpA 613 19,617 
Davide Campari-Milano SpA 25,590 192,213 
De Longhi SpA 3,032 90,804 
DiaSorin S.p.A. 756 71,529 
Digital Multimedia Technologies SpA 948 54,836 
Enav SpA (c) 12,759 69,705 
Enel SpA 332,517 2,109,396 
Eni SpA 101,618 1,986,471 
ERG SpA 2,649 63,659 
Fincantieri SpA 23,908 37,735 
FinecoBank SpA 20,446 244,536 
Hera SpA 27,438 101,788 
Immobiliare Grande Distribuzione SpA 903 8,465 
Industria Macchine Automatiche SpA (IMA) 720 70,079 
Infrastrutture Wireless Italiane SpA (c) 9,065 73,071 
Interpump Group SpA 4,488 142,972 
Intesa Sanpaolo SpA 443,793 1,688,170 
Intesa Sanpaolo SpA (Risparmio Shares) 139,653 554,167 
Iren SpA 21,493 65,458 
Italgas SpA 22,389 145,080 
Italmobiliare SpA 66 1,789 
Leonardo SpA 17,113 198,597 
Luxottica Group SpA 7,161 447,601 
Maire Tecnimont SpA 6,337 32,309 
MARR SpA 1,204 36,378 
Mediaset SpA (a) 22,568 89,799 
Mediobanca SpA 25,390 308,603 
Moncler SpA 6,980 315,584 
OVS (c) 19,908 84,864 
Piaggio & C SpA 5,908 15,553 
Poste Italiane SpA (c) 21,398 209,461 
Prysmian SpA 8,622 253,843 
Rai Way SpA (c) 3,341 18,882 
Recordati SpA 4,185 149,845 
Reply SpA 849 53,672 
Safilo Group SpA (a) 143 719 
Saipem SpA (a) 35,135 134,670 
Salini Impregilo SpA 10,586 30,348 
Salvatore Ferragamo Italia SpA 3,856 114,178 
Saras Raffinerie Sarde SpA 20,810 49,707 
Snam Rete Gas SpA 95,333 458,770 
Societa Cattolica Di Assicurazioni SCRL 5,735 61,222 
Societa Iniziative Autostradali e Servizi SpA (SIAS) 2,524 53,644 
Technogym SpA (c) 5,245 63,909 
Telecom Italia SpA (a) 341,208 337,133 
Terna SpA 58,713 352,878 
Tod's SpA 706 54,564 
UniCredit SpA 83,643 1,815,505 
Unione di Banche Italiane SCpA 43,330 223,691 
Unipol Gruppo SpA 13,073 70,252 
Unipolsai SpA 35,032 94,339 
YOOX SpA (a) 2,445 111,873 
Zignago Vetro SpA 165 1,660 
TOTAL ITALY  17,568,555 
Japan - 17.3%   
77 Bank Ltd. 2,400 59,473 
A/S One Corp. 1,900 129,308 
ABC-MART, Inc. 1,807 119,177 
ACOM Co. Ltd. 32,300 146,550 
Activia Properties, Inc. 18 79,857 
Adastria Co. Ltd. 200 3,480 
Adeka Corp. 2,600 46,235 
Advance Residence Investment Corp. 49 126,355 
Advantest Corp. 8,159 195,541 
Aeon (REIT) Investment Corp. 105 109,015 
AEON Co. Ltd. 26,925 538,771 
Aeon Delight Co. Ltd. 1,800 63,145 
AEON Financial Service Co. Ltd. 3,999 93,866 
AEON MALL Co. Ltd. 6,600 133,908 
Ai Holdings Corp. 1,200 32,130 
Aica Kogyo Co. Ltd. 1,200 45,225 
Aichi Steel Corp. 100 4,331 
Aida Engineering Ltd. 3,500 41,013 
Aiful Corp. (a) 10,100 34,184 
Ain Holdings, Inc. 1,700 113,520 
Air Water, Inc. 6,100 117,960 
Aisin Seiki Co. Ltd. 7,100 385,785 
Ajinomoto Co., Inc. 21,725 398,649 
Akita Bank Ltd. 100 2,741 
Alfresa Holdings Corp. 10,239 226,285 
All Nippon Airways Ltd. 4,641 184,248 
Alpine Electronics, Inc. 1,500 28,485 
Alps Electric Co. Ltd. 7,978 177,192 
Amada Holdings Co. Ltd. 11,700 140,952 
Amano Corp. 2,000 49,780 
Anicom Holdings, Inc. 900 29,638 
Anritsu Corp. 6,700 88,255 
Aoki International Co. Ltd. 200 3,068 
Aoyama Trading Co. Ltd. 1,500 57,835 
Aozora Bank Ltd. 4,500 182,149 
ARCS Co. Ltd. 4,700 128,635 
Ariake Japan Co. Ltd. 800 68,789 
Asahi Diamond Industrial Co. Ltd. 4,700 45,315 
Asahi Glass Co. Ltd. 9,463 392,993 
Asahi Group Holdings 16,059 813,233 
Asahi Holdings, Inc. 1,700 31,241 
ASAHI INTECC Co. Ltd. 3,880 136,112 
Asahi Kasei Corp. 53,300 734,996 
Asics Corp. 8,200 155,419 
ASKUL Corp. 600 18,908 
Astellas Pharma, Inc. 87,403 1,278,377 
Atom Corp. 1,400 12,666 
Autobacs Seven Co. Ltd. 1,400 26,509 
Avex, Inc. 200 2,768 
Axial Retailing, Inc. 1,300 53,037 
Azbil Corp. 2,300 107,300 
Bandai Namco Holdings, Inc. 7,800 265,066 
Bank of Kyoto Ltd. 3,800 228,723 
Bank of Nagoya Ltd. 100 3,728 
Bank of The Ryukyus Ltd. 2,700 41,443 
Belc Co. Ltd. 800 43,103 
Belluna Co. Ltd. 1,500 17,481 
Benefit One, Inc. 1,700 39,934 
Benesse Holdings, Inc. 3,800 138,694 
Bic Camera, Inc. 5,400 88,814 
BML, Inc. 1,600 40,585 
Bridgestone Corp. 26,658 1,119,041 
Brother Industries Ltd. 9,400 202,583 
Bunka Shutter Co. Ltd. 300 2,986 
Calbee, Inc. 2,700 91,136 
Canon Marketing Japan, Inc. 1,600 34,760 
Canon, Inc. 43,643 1,501,284 
Capcom Co. Ltd. 2,800 53,864 
Casio Computer Co. Ltd. 11,700 174,772 
Cawachi Ltd. 200 4,662 
Central Glass Co. Ltd. 2,800 66,568 
Central Japan Railway Co. 5,755 1,156,580 
Chiba Bank Ltd. 29,000 234,504 
Chiyoda Co. Ltd. 100 2,405 
Chiyoda Corp. 6,000 61,855 
Chofu Seisakusho Co. Ltd. 100 2,379 
Chubu Electric Power Co., Inc. 28,016 439,127 
Chudenko Corp. 600 16,712 
Chugai Pharmaceutical Co. Ltd. 9,100 481,138 
Chugoku Electric Power Co., Inc. 16,500 206,778 
Chugoku Marine Paints Ltd. 5,400 53,348 
Citizen Watch Co. Ltd. 16,600 124,515 
CKD Corp. 2,665 56,240 
Clarion Co. Ltd. 1,000 2,817 
Coca-Cola West Co. Ltd. 4,750 204,651 
cocokara fine HOLDINGS, Inc. 1,300 94,301 
COLOPL, Inc. 500 3,792 
Colowide Co. Ltd. 4,100 104,413 
Comforia Residential REIT, Inc. 20,656 
COMSYS Holdings Corp. 3,600 100,439 
Concordia Financial Group Ltd. 53,300 310,575 
Cookpad, Inc. 500 2,918 
Cosmo Energy Holdings Co. Ltd. 2,600 85,977 
Cosmos Pharmaceutical Corp. 300 67,536 
Create Restaurants Holdings, Inc. 200 2,530 
Create SD Holdings Co. Ltd. 1,800 52,195 
Credit Saison Co. Ltd. 6,901 123,918 
CyberAgent, Inc. 4,100 226,528 
CYBERDYNE, Inc. (a) 3,100 39,728 
Dai Nippon Printing Co. Ltd. 13,700 295,505 
Dai-ichi Mutual Life Insurance Co. 44,499 884,933 
Daibiru Corp. 200 2,387 
Daicel Chemical Industries Ltd. 13,721 158,899 
Daido Metal Co. Ltd. 400 4,757 
Daido Steel Co. Ltd. 700 38,035 
Daifuku Co. Ltd. 4,100 220,527 
Daihen Corp. 8,000 62,349 
Daiho Corp. 1,000 6,101 
Daiichi Sankyo Kabushiki Kaisha 24,000 823,271 
Daiichikosho Co. Ltd. 2,400 126,235 
Daikin Industries Ltd. 10,368 1,214,437 
Daikyo, Inc. 400 8,727 
DaikyoNishikawa Corp. 1,600 28,847 
Dainippon Sumitomo Pharma Co. Ltd. 8,600 156,943 
Daio Paper Corp. 6,000 84,248 
Daiseki Co. Ltd. 1,600 49,909 
Daito Trust Construction Co. Ltd. 2,844 474,911 
Daiwa House Industry Co. Ltd. 23,244 852,620 
Daiwa House REIT Investment Corp. 61 145,637 
Daiwa Office Investment Corp. 18 106,531 
Daiwa Securities Group, Inc. 63,000 387,670 
Daiwabo Holdings Co. Ltd. 500 22,777 
DCM Japan Holdings Co. Ltd. 800 7,977 
DeNA Co. Ltd. 3,600 68,661 
Denki Kagaku Kogyo KK 4,400 157,373 
DENSO Corp. 19,222 1,012,091 
Dentsu, Inc. 9,000 426,454 
Descente Ltd. 1,800 30,445 
Dexerials Corp. 1,700 16,033 
Dic Corp. 3,200 108,891 
Digital Garage, Inc. 1,400 46,679 
Dip Corp. 800 19,451 
Disco Corp. 1,200 211,636 
Dmg Mori Co. Ltd. 4,800 90,318 
Don Quijote Holdings Co. Ltd. 4,623 249,503 
Doshisha Co. Ltd. 100 2,334 
Doutor Nichires Holdings Co., Ltd. 500 10,465 
Dowa Holdings Co. Ltd. 3,300 124,671 
Dr. Ci:Labo Co., Ltd. 1,000 48,207 
DTS Corp. 1,500 54,473 
Duskin Co. Ltd. 600 15,143 
Dydo Group Holdings, Inc. 100 6,229 
Eagle Industry Co. Ltd. 300 5,431 
Earth Corp. 700 36,819 
East Japan Railway Co. 13,310 1,277,185 
Ebara Corp. 4,500 172,475 
EDION Corp. 1,300 15,293 
Ehime Bank Ltd. 2,400 28,957 
Eiken Chemical Co. Ltd. 2,800 66,286 
Eisai Co. Ltd. 11,300 759,225 
Eizo Corp. 600 28,211 
Electric Power Development Co. Ltd. 6,000 163,447 
en-japan, Inc. 1,100 51,619 
EPS Co. Ltd. 2,000 40,798 
euglena Co. Ltd. (a) 1,200 11,054 
Exedy Corp. 1,200 40,724 
Ezaki Glico Co. Ltd. 2,100 113,529 
FamilyMart Co. Ltd. (b) 3,277 318,647 
Fancl Corp. 1,200 47,201 
Fanuc Corp. 8,085 1,731,893 
Fast Retailing Co. Ltd. 2,236 986,074 
FCC Co. Ltd. 3,000 85,071 
Ferrotec Holdings Corp. 2,700 60,659 
Financial Products Group Co. Ltd. 4,200 53,672 
Foster Electric Co. Ltd. 1,100 25,890 
FP Corp. 1,400 86,572 
Frontier Real Estate Investment Corp. 32 132,016 
Fuji Corp. 4,800 86,367 
Fuji Electric Co. Ltd. 23,000 164,947 
Fuji Kyuko Co. Ltd. 500 13,927 
Fuji Oil Holdings, Inc. 1,700 54,661 
Fuji Seal International, Inc. 3,500 130,946 
Fuji Soft ABC, Inc. 600 23,244 
Fujicco Co. Ltd. 100 2,305 
Fujifilm Holdings Corp. 17,300 697,096 
Fujikura Ltd. 15,800 108,397 
Fujimi, Inc. 200 4,343 
Fujimori Kogyo Co. Ltd. 400 13,593 
Fujitec Co. Ltd. 4,200 58,436 
Fujitsu General Ltd. 5,500 90,057 
Fujitsu Ltd. 83,427 508,178 
Fukuda Denshi Co. Ltd. 700 50,201 
Fukuoka (REIT) Investment Fund 18 27,876 
Fukuoka Financial Group, Inc. 40,000 214,416 
Fukushima Industries Corp. 100 4,656 
Fukuyama Transporting Co. Ltd. 1,000 41,850 
Funai Soken Holdings, Inc. 900 21,092 
Furukawa Co. Ltd. 600 12,124 
Furukawa Electric Co. Ltd. 2,700 133,370 
Fuso Chemical Co. Ltd. 300 7,656 
Futaba Corp. 3,900 80,875 
Futaba Industrial Co. Ltd. 700 5,616 
Fuyo General Lease Co. Ltd. 500 33,983 
G-Tekt Corp. 100 1,936 
Global One Real Estate Investment Corp. 32 32,082 
Glory Ltd. 2,200 75,869 
GLP J-REIT 164 176,272 
GMO Internet, Inc. 4,100 75,572 
GMO Payment Gateway, Inc. 800 79,400 
GNI Group Ltd. (a) 7,000 33,617 
Goldcrest Co. Ltd. 300 6,386 
GOLDWIN, Inc. 600 37,980 
GREE, Inc. 3,400 18,816 
GS Yuasa Corp. 10,000 53,970 
Gulliver International Co. Ltd. 400 2,898 
GungHo Online Entertainment, Inc. 28,000 84,779 
Gunma Bank Ltd. 10,900 63,813 
Gunze Ltd. 700 43,094 
Gurunavi, Inc. 100 1,369 
H.I.S. Co. Ltd. 2,300 84,262 
H2O Retailing Corp. 2,500 47,247 
Hakuhodo DY Holdings, Inc. 11,900 166,657 
Hamamatsu Photonics K.K. 6,300 243,194 
Hankyu Hanshin Holdings, Inc. 9,600 378,924 
Hankyu REIT, Inc. 11,501 
Hanwa Co. Ltd. 1,700 74,488 
Harmonic Drive Systems, Inc. 1,200 57,629 
Haseko Corp. 9,300 146,748 
Hazama Ando Corp. 5,200 41,954 
Heiwa Corp. 1,700 33,838 
Heiwa Real Estate (REIT), Inc. 15 14,366 
Heiwa Real Estate Co. Ltd. 1,700 39,903 
Heiwado Co. Ltd. 1,800 42,975 
Hiday Hidaka Corp. 2,160 56,411 
Hikari Tsushin, Inc. 800 129,967 
Hino Motors Ltd. 9,000 110,071 
Hirata Corp. 400 37,980 
Hirose Electric Co. Ltd. 1,155 162,917 
Hiroshima Bank Ltd. 14,400 109,857 
Hisamitsu Pharmaceutical Co., Inc. 3,400 265,295 
Hitachi Capital Corp. 1,900 50,924 
Hitachi Chemical Co. Ltd. 5,700 125,450 
Hitachi Construction Machinery Co. Ltd. 5,000 182,263 
Hitachi High-Technologies Corp. 3,100 144,905 
Hitachi Ltd. 201,881 1,480,313 
Hitachi Metals Ltd. 13,000 149,360 
Hitachi Transport System Ltd. 2,200 58,985 
Hitachi Zosen Corp. 2,900 15,784 
Hogy Medical Co. Ltd. 2,800 116,795 
Hokkaido Electric Power Co., Inc. 18,500 122,860 
Hokuetsu Kishu Paper Co. Ltd. 9,200 57,563 
Hokuhoku Financial Group, Inc. 4,300 63,800 
Hokuriku Electric Power Co., Inc. 5,400 55,176 
Hokuto Corp. 100 1,767 
Honda Motor Co. Ltd. 71,572 2,461,072 
Horiba Ltd. 2,000 145,810 
Hoshino Resorts REIT, Inc. 13 63,977 
Hoshizaki Corp. 2,500 232,574 
Hosiden Corp. 1,800 21,603 
House Foods Group, Inc. 1,900 67,001 
Hoya Corp. 16,118 864,286 
Hulic (REIT), Inc. 78 120,510 
Hulic Co. Ltd. 12,400 133,505 
Hyakujushi Bank Ltd. 7,000 23,692 
Ibiden Co. Ltd. 8,400 139,155 
IBJ Leasing Co. Ltd. 1,600 44,274 
Ichibanya Co. Ltd. 100 4,176 
Ichigo Real Estate Investment Corp. 11 8,181 
Ichigo, Inc. 8,900 39,729 
Idemitsu Kosan Co. Ltd. 5,400 211,663 
IHI Corp. 6,072 199,401 
Iida Group Holdings Co. Ltd. 6,000 117,508 
Inaba Denki Sangyo Co. Ltd. 400 17,142 
Inabata & Co. Ltd. 1,000 15,368 
Industrial & Infrastructure Fund Investment Corp. 104 115,207 
Ines Corp. 3,700 39,836 
Infomart Corp. 3,200 29,243 
INPEX Corp. 39,700 509,324 
Internet Initiative Japan, Inc. 1,600 30,282 
Invesco Office J-REIT, Inc. 426 53,854 
Invincible Investment Corp. 186 83,200 
Iriso Electronics Co. Ltd. 500 31,742 
Iseki & Co. Ltd. 100 1,935 
Isetan Mitsukoshi Holdings Ltd. 18,871 210,253 
Istyle, Inc. 1,300 17,338 
Isuzu Motors Ltd. 25,768 394,581 
IT Holdings Corp. 3,300 131,010 
ITO EN Ltd. 2,260 90,342 
Itochu Corp. 62,550 1,255,349 
Itochu Enex Co. Ltd. 300 2,947 
ITOCHU Techno-Solutions Corp. 3,012 62,543 
Itoham Yonekyu Holdings, Inc. 10,100 91,927 
Iwatani Corp. 600 22,201 
Iyo Bank Ltd. 7,900 62,654 
Izumi Co. Ltd. 2,100 138,886 
J Trust Co. Ltd. 600 4,248 
J. Front Retailing Co. Ltd. 10,200 165,615 
JACCS Co. Ltd. 200 4,537 
JAFCO Co. Ltd. 900 39,599 
Japan Airlines Co. Ltd. 5,200 205,013 
Japan Airport Terminal Co. Ltd. 3,600 148,024 
Japan Aviation Electronics Industry Ltd. 1,000 17,124 
Japan Display, Inc. (a) 24,400 32,364 
Japan Excellent, Inc. 99 128,776 
Japan Exchange Group, Inc. 23,100 428,952 
Japan Hotel REIT Investment Corp. 128 96,948 
Japan Lifeline Co. Ltd. 2,300 67,956 
Japan Logistics Fund, Inc. 54 109,512 
Japan Material Co. Ltd. 1,800 23,924 
Japan Petroleum Exploration Co. Ltd. 1,300 33,856 
Japan Post Bank Co. Ltd. 13,834 188,300 
Japan Post Holdings Co. Ltd. 63,338 770,578 
Japan Prime Realty Investment Corp. 36 130,735 
Japan Real Estate Investment Corp. 58 301,354 
Japan Rental Housing Investment, Inc. 42 32,733 
Japan Retail Fund Investment Corp. 119 223,152 
Japan Securities Finance Co. Ltd. 500 3,293 
Japan Steel Works Ltd. 2,800 92,206 
Japan Tobacco, Inc. 45,143 1,212,609 
Japan Wool Textile Co. Ltd. 400 4,175 
JCR Pharmaceuticals Co. Ltd. 1,000 52,598 
JEOL Ltd. 5,000 42,993 
JFE Holdings, Inc. 21,000 433,082 
JGC Corp. 9,142 224,536 
Jimoto Holdings, Inc. 13,900 24,286 
JIN Co. Ltd. 1,100 59,769 
Joshin Denki Co. Ltd. 1,800 74,588 
Joyful Honda Co. Ltd. 700 24,748 
JSR Corp. 9,300 175,672 
JTEKT Corp. 10,200 165,615 
Juroku Bank Ltd. 1,300 34,379 
Justsystems Corp. 700 16,616 
JVC KENWOOD Holdings, Inc. 700 2,452 
JX Holdings, Inc. 132,050 862,939 
K's Holdings Corp. 11,200 162,078 
kabu.com Securities Co. Ltd. 600 2,190 
Kadokawa Dwango Corp. 2,000 20,710 
Kagome Co. Ltd. 2,700 97,434 
Kajima Corp. 37,000 357,071 
Kakaku.com, Inc. 7,500 143,455 
Kaken Pharmaceutical Co. Ltd. 1,556 92,233 
Kameda Seika Co. Ltd. 100 4,930 
Kamigumi Co. Ltd. 5,500 124,268 
Kanamoto Co. Ltd. 1,400 48,088 
Kandenko Co. Ltd. 7,800 92,470 
Kaneka Corp. 16,000 158,214 
Kanematsu Corp. 3,200 49,060 
Kansai Electric Power Co., Inc. 28,599 400,260 
Kansai Mirai Financial Group, Inc. (a) 6,700 53,075 
Kansai Paint Co. Ltd. 7,639 172,178 
Kanto Denka Kogyo Co. Ltd. 1,000 9,321 
Kao Corp. 20,791 1,493,901 
Kato Sangyo 1,100 40,601 
Kawasaki Heavy Industries Ltd. 6,300 211,498 
Kawasaki Kisen Kaisha Ltd. (a) 6,400 148,116 
KDDI Corp. 74,837 2,008,895 
Keihan Electric Railway Co., Ltd. 3,000 97,146 
Keihin Corp. 1,600 31,614 
Keihin Electric Express Railway Co. Ltd. 9,839 180,634 
Keio Corp. 5,103 233,864 
Keisei Electric Railway Co. 7,606 248,385 
Kenedix Office Investment Corp. 15 92,206 
Kenedix Residential Investment Corp. 49 72,254 
Kenedix Retail REIT Corp. 12 25,423 
Kenedix, Inc. 7,400 42,916 
Kewpie Corp. 6,700 156,346 
Keyence Corp. 4,075 2,496,366 
KH Neochem Co. Ltd. 800 24,296 
Kikkoman Corp. 7,000 303,833 
Kinden Corp. 4,392 76,735 
Kintetsu Group Holdings Co. Ltd. 6,653 271,123 
Kintetsu World Express, Inc. 2,600 48,542 
Kirin Holdings Co. Ltd. 36,170 1,016,744 
Kisoji Co. Ltd. 300 7,791 
Kissei Pharmaceutical Co. Ltd. 1,400 39,636 
Kitz Corp. 1,400 11,744 
Koa Corp. 1,100 24,149 
Kobayashi Pharmaceutical Co. Ltd. 1,800 151,976 
Kobe Bussan Co. Ltd. 300 14,572 
Kobe Steel Ltd. 11,600 120,117 
Kohnan Shoji Co. Ltd. 1,400 36,562 
Koito Manufacturing Co. Ltd. 5,100 342,892 
Kokuyo Co. Ltd. 4,600 83,063 
Komatsu Ltd. 38,311 1,305,974 
KOMEDA Holdings Co. Ltd. 1,900 38,323 
KOMERI Co. Ltd. 600 16,048 
Komori Corp. 3,300 42,110 
Konami Holdings Corp. 4,300 211,617 
Konica Minolta, Inc. 19,800 170,252 
Konoike Transport Co. Ltd. 500 8,768 
Kose Corp. 1,300 240,807 
Koshidaka Holdings Co. Ltd. 700 42,517 
Kotobuki Spirits Co. Ltd. 600 28,595 
Kubota Corp. 44,510 753,030 
Kumagai Gumi Co. Ltd. 1,000 34,120 
Kumiai Chemical Industry Co. Ltd. 3,500 22,283 
Kura Corp. Ltd. 700 50,457 
Kurabo Industries Ltd. 3,000 9,934 
Kuraray Co. Ltd. 18,252 304,200 
Kureha Chemical Industry Co. Ltd. 1,500 102,223 
Kurita Water Industries Ltd. 5,800 188,346 
Kusuri No Aoki Holdings Co. Ltd. 400 27,479 
Kyb Corp. 1,400 67,746 
Kyocera Corp. 12,837 821,746 
Kyoei Steel Ltd. 100 2,087 
Kyokuto Kaihatsu Kogyo Co. Ltd. 500 7,935 
Kyorin Holdings, Inc. 500 9,806 
Kyoritsu Maintenance Co. Ltd. 2,600 122,960 
Kyowa Exeo Corp. 4,900 127,744 
Kyowa Hakko Kirin Co., Ltd. 11,400 247,563 
Kyudenko Corp. 1,400 65,697 
Kyushu Electric Power Co., Inc. 19,478 240,891 
Kyushu Financial Group, Inc. 14,785 72,762 
Kyushu Railway Co. 6,100 195,856 
LaSalle Logiport REIT 63 64,717 
Lasertec Corp. 1,200 40,066 
Lawson, Inc. 2,700 178,568 
Leopalace21 Corp. 10,000 86,992 
LIFE Corp. 100 2,501 
LIFULL Co. Ltd. 2,300 18,767 
LINE Corp. (a) 1,900 68,712 
Lintec Corp. 4,900 141,863 
Lion Corp. 9,136 197,395 
LIXIL Group Corp. 12,895 289,347 
M3, Inc. 8,895 337,265 
Mabuchi Motor Co. Ltd. 2,500 126,235 
Macnica Fuji Electronics Holdings, Inc. 3,700 63,596 
Macromill, Inc. 2,100 56,726 
Maeda Corp. 4,000 49,469 
Maeda Road Construction Co. Ltd. 6,000 129,748 
Makino Milling Machine Co. Ltd. 10,000 94,859 
Makita Corp. 8,900 400,549 
Mandom Corp. 4,400 158,983 
Mani, Inc. 1,400 56,989 
Marubeni Corp. 68,100 513,429 
Marudai Food Co. Ltd. 1,000 4,930 
Maruha Nichiro Corp. 1,400 47,192 
Marui Group Co. Ltd. 8,502 176,931 
Maruichi Steel Tube Ltd. 5,000 171,286 
Marusan Securities Co. Ltd. 900 8,595 
Maruwa Ceramic Co. Ltd. 500 41,438 
Matsui Securities Co. Ltd. 1,700 16,608 
Matsumotokiyoshi Holdings Co. Ltd. 4,300 192,147 
Max Co. Ltd. 1,000 13,035 
Maxell Holdings Ltd. 1,500 29,624 
Mazda Motor Corp. 22,500 313,152 
McDonald's Holdings Co. (Japan) Ltd. 3,028 141,816 
MCJ Co. Ltd. 300 3,993 
MCUBS MidCity Investment Corp. 156 117,728 
Mebuki Financial Group, Inc. 44,268 172,099 
Medipal Holdings Corp. 6,700 144,088 
Megachips Corp. 600 19,402 
Megmilk Snow Brand Co. Ltd. 1,800 54,254 
Meidensha Corp. 17,000 67,179 
Meiji Holdings Co. Ltd. 5,000 401,573 
Meitec Corp. 2,400 131,943 
Menicon Co. Ltd. 1,800 47,157 
Micronics Japan Co. Ltd. 100 1,118 
Milbon Co. Ltd. 2,400 104,610 
Minebea Mitsumi, Inc. 16,095 323,461 
Miraca Holdings, Inc. 2,047 79,955 
Mirait Holdings Corp. 2,300 36,482 
Miroku Jyoho Service Co., Ltd. 200 5,708 
Misumi Group, Inc. 11,805 327,197 
Mitsuba Corp. 500 7,327 
Mitsubishi Chemical Holdings Corp. 58,257 553,953 
Mitsubishi Corp. 62,551 1,731,997 
Mitsubishi Electric Corp. 80,392 1,235,810 
Mitsubishi Estate Co. Ltd. 52,471 958,779 
Mitsubishi Gas Chemical Co., Inc. 7,045 165,878 
Mitsubishi Heavy Industries Ltd. 12,766 505,175 
Mitsubishi Logistics Corp. 1,500 34,742 
Mitsubishi Materials Corp. 5,300 161,928 
Mitsubishi Motors Corp. of Japan 28,034 209,255 
Mitsubishi Pencil Co. Ltd. 2,600 51,824 
Mitsubishi Shokuhin Co. Ltd. 100 2,923 
Mitsubishi Tanabe Pharma Corp. 11,109 211,774 
Mitsubishi UFJ Financial Group, Inc. 496,439 3,326,808 
Mitsubishi UFJ Lease & Finance Co. Ltd. 12,300 78,422 
Mitsuboshi Belting Ltd. 1,000 11,443 
Mitsui & Associates Telepark Corp. 300 8,397 
Mitsui & Co. Ltd. 71,782 1,297,815 
Mitsui Chemicals, Inc. 8,500 244,146 
Mitsui Engineering & Shipbuilding Co. 7,000 120,381 
Mitsui Fudosan Co. Ltd. 36,840 947,454 
Mitsui Fudosan Logistics Park, Inc. 17 54,816 
Mitsui High-Tec, Inc. 500 7,377 
Mitsui Mining & Smelting Co. Ltd. 2,300 97,937 
Mitsui OSK Lines Ltd. 4,800 142,481 
Mitsui Sugar Co. Ltd. 700 28,046 
Mitsui-Soko Co. Ltd. (a) 2,000 6,513 
Miura Co. Ltd. 3,155 96,249 
mixi, Inc. 1,500 49,533 
Mizuho Financial Group, Inc. 979,184 1,771,576 
Mizuno Corp. 200 6,486 
Mochida Pharmaceutical Co. Ltd. 900 63,557 
Modec, Inc. 300 7,978 
Monex Group, Inc. 14,500 82,766 
MonotaRO Co. Ltd. 3,100 108,466 
Mori Hills REIT Investment Corp. 114 146,515 
Mori Trust Hotel (REIT), Inc. 15 19,855 
MORI TRUST Sogo (REIT), Inc. 83 123,984 
Morinaga & Co. Ltd. 1,800 87,761 
Morinaga Milk Industry Co. Ltd. 2,700 118,922 
Morita Holdings Corp. 100 1,965 
MOS Food Services, Inc. 400 12,130 
MS&AD Insurance Group Holdings, Inc. 19,897 668,330 
Murata Manufacturing Co. Ltd. 8,034 1,014,263 
Musashi Seimitsu Industry Co. Ltd. 900 31,614 
Nabtesco Corp. 4,900 177,273 
Nachi-Fujikoshi Corp. 5,000 26,070 
Nagaileben Co. Ltd. 1,400 37,100 
Nagase & Co. Ltd. 6,300 107,939 
Nagoya Railroad Co. Ltd. 7,516 197,388 
Nakanishi, Inc. 3,900 81,553 
Namura Shipbuilding Co. Ltd. 500 3,101 
Nankai Electric Railway Co. Ltd. 3,400 90,660 
NanoCarrier Co. Ltd. (a) 200 1,272 
NEC Corp. 12,000 329,857 
NEC System Integration & Constuction Ltd. 100 2,623 
Net One Systems Co. Ltd. 2,800 45,156 
New Hampshire Foods Ltd. 3,713 162,520 
Nexon Co. Ltd. (a) 16,100 234,608 
NGK Insulators Ltd. 11,100 204,292 
NGK Spark Plug Co. Ltd. 9,300 239,901 
NHK Spring Co. Ltd. 8,487 93,782 
Nichi-iko Pharmaceutical Co. Ltd. 500 8,009 
Nichias Corp. 4,000 50,787 
Nichicon Corp. 1,700 19,267 
Nichiha Corp. 600 23,875 
Nichirei Corp. 6,210 179,790 
Nidec Corp. 9,845 1,543,572 
Nifco, Inc. 3,200 112,843 
Nihon Kohden Corp. 3,400 97,503 
Nihon M&A Center, Inc. 6,200 182,053 
Nihon Parkerizing Co. Ltd. 5,100 80,941 
Nihon Unisys Ltd. 2,300 47,948 
Nikkiso Co. Ltd. 2,200 25,095 
Nikkon Holdings Co. Ltd. 3,200 85,445 
Nikon Corp. 15,700 274,018 
Nintendo Co. Ltd. 4,688 1,969,788 
Nippo Corp. 3,400 78,096 
Nippon Accommodations Fund, Inc. 18 80,598 
Nippon Building Fund, Inc. 50 281,284 
Nippon Chemi-con Corp. 500 11,640 
Nippon Densetsu Kogyo Co. Ltd. 600 12,349 
Nippon Electric Glass Co. Ltd. 4,300 124,099 
Nippon Express Co. Ltd. 2,966 224,376 
Nippon Flour Mills Co. Ltd. 500 8,173 
Nippon Gas Co. Ltd. 1,600 79,034 
Nippon Kayaku Co. Ltd. 4,000 50,165 
Nippon Light Metal Holding Co. Ltd. 30,000 80,681 
Nippon Paint Holdings Co. Ltd. 6,297 258,055 
Nippon Paper Industries Co. Ltd. 3,645 69,919 
Nippon Prologis REIT, Inc. 74 155,893 
Nippon REIT Investment Corp. 12 36,498 
Nippon Seiki Co. Ltd. 1,000 19,274 
Nippon Sheet Glass Co. Ltd. (a) 900 7,377 
Nippon Shinyaku Co. Ltd. 2,500 186,608 
Nippon Shokubai Co. Ltd. 900 61,251 
Nippon Signal Co. Ltd. 200 1,901 
Nippon Soda Co. Ltd. 12,000 69,155 
Nippon Steel & Sumikin Bussan Corp. 1,200 65,971 
Nippon Steel & Sumitomo Metal Corp. 32,595 711,115 
Nippon Suisan Kaisha Co. Ltd. 8,100 44,012 
Nippon Telegraph & Telephone Corp. 28,332 1,344,500 
Nippon Yusen KK 6,900 147,316 
Nipro Corp. 4,338 62,657 
Nishi-Nippon Financial Holdings, Inc. 12,500 150,361 
Nishi-Nippon Railroad Co. Ltd. 5,800 161,288 
Nishimatsu Construction Co. Ltd. 1,200 33,096 
Nishimatsuya Chain Co. Ltd. 1,000 12,294 
Nishio Rent All Co. Ltd. 1,200 35,785 
Nissan Chemical Industries Co. Ltd. 5,600 249,726 
Nissan Motor Co. Ltd. 92,948 979,049 
Nissan Shatai Co. Ltd. 2,300 24,658 
Nissha Co. Ltd. 1,900 44,963 
Nisshin Oillio Group Ltd. 800 23,052 
Nisshin Seifun Group, Inc. 7,800 170,741 
Nisshin Steel Co. Ltd. 2,800 37,292 
Nisshinbo Holdings, Inc. 4,100 58,020 
Nissin Electric Co. Ltd. 400 4,032 
Nissin Food Holdings Co. Ltd. 2,900 213,547 
Nissin Kogyo Co. Ltd. 2,000 35,181 
Nitori Holdings Co. Ltd. 3,300 557,849 
Nitta Corp. 100 3,810 
Nitto Boseki Co. Ltd. 1,200 25,993 
Nitto Denko Corp. 6,942 517,538 
Nitto Kogyo Corp. 500 8,612 
NKSJ Holdings, Inc. 14,919 626,401 
Noevir Holdings Co. Ltd. 600 43,249 
NOF Corp. 3,400 101,546 
Nojima Co. Ltd. 1,100 27,238 
NOK Corp. 3,200 65,862 
NOMURA Co. Ltd. 2,400 48,342 
Nomura Holdings, Inc. 149,654 861,940 
Nomura Real Estate Holdings, Inc. 4,900 121,828 
Nomura Real Estate Master Fund, Inc. 169 236,062 
Nomura Research Institute Ltd. 5,270 272,370 
Noritz Corp. 1,500 27,374 
North Pacific Bank Ltd. 23,400 79,199 
NS Solutions Corp. 3,200 92,792 
NSD Co. Ltd. 1,200 25,115 
NSK Ltd. 20,200 271,625 
NTN Corp. 13,000 57,437 
NTT Data Corp. 24,300 262,072 
NTT DOCOMO, Inc. 55,130 1,424,229 
NTT Urban Development Co. 2,500 29,523 
Obara Group, Inc. 800 47,494 
Obayashi Corp. 24,800 286,293 
OBIC Business Consultants Ltd. 300 22,009 
OBIC Co. Ltd. 2,641 221,533 
Odakyu Electric Railway Co. Ltd. 11,400 246,207 
Ogaki Kyoritsu Bank Ltd. 800 20,227 
Ohsho Food Service Corp. 100 5,031 
Oiles Corp. 100 2,169 
Oji Holdings Corp. 34,000 239,480 
Okamoto Industries, Inc. 1,000 10,026 
Okamura Corp. 3,200 43,439 
Okasan Securities Group, Inc. 13,034 74,756 
Oki Electric Industry Co. Ltd. 2,800 37,907 
Okuma Corp. 1,000 57,355 
Okumura Corp. 1,000 41,484 
Olympus Corp. 11,800 440,935 
OMRON Corp. 7,700 418,386 
Ono Pharmaceutical Co. Ltd. 17,380 402,942 
Onward Holdings Co. Ltd. 6,000 49,616 
Open House Co. Ltd. 1,500 83,974 
Optex Group Co. Ltd. 2,400 72,338 
Oracle Corp. Japan 1,500 123,491 
Orient Corp. 7,300 11,285 
Oriental Land Co. Ltd. 8,934 892,011 
ORIX Corp. 55,620 978,896 
ORIX JREIT, Inc. 97 147,913 
Osaka Gas Co. Ltd. 14,700 316,537 
OSG Corp. 2,200 48,862 
Otsuka Corp. 4,300 200,604 
Otsuka Holdings Co. Ltd. 16,518 866,092 
Outsourcing, Inc. 3,300 55,664 
Pacific Industrial Co. Ltd. 200 2,847 
Pacific Metals Co. Ltd. (a) 100 3,522 
PALTAC Corp. 2,000 100,256 
Panasonic Corp. 89,789 1,329,519 
Paramount Bed Holdings Co. Ltd. 1,000 49,762 
Park24 Co. Ltd. 4,840 137,248 
Penta-Ocean Construction Co. Ltd. 10,400 82,291 
Pepper Food Service Co. Ltd. 700 40,468 
PeptiDream, Inc. (a) 3,700 150,274 
Pigeon Corp. 5,200 244,018 
Pilot Corp. 1,600 87,523 
Piolax, Inc. 2,600 73,015 
Pioneer Corp. (a) 5,000 7,821 
Plenus Co. Ltd. 100 1,726 
Pola Orbis Holdings, Inc. 4,189 183,163 
Premier Investment Corp. 135 132,259 
Press Kogyo Co. Ltd. 500 2,891 
Pressance Corp. 200 3,064 
Prestige International, Inc. 800 9,228 
Prima Meat Packers Ltd. 5,000 30,598 
Raito Kogyo Co. Ltd. 200 2,179 
Rakuten, Inc. 37,495 266,461 
Recruit Holdings Co. Ltd. 45,654 1,055,321 
Relia, Inc. 200 2,545 
Relo Group, Inc. 4,200 94,742 
Renesas Electronics Corp. (a)(b) 25,755 270,460 
Rengo Co. Ltd. 12,600 108,573 
Resona Holdings, Inc. 94,100 535,919 
Resorttrust, Inc. 2,800 58,244 
Ricoh Co. Ltd. 28,600 280,192 
Ricoh Leasing Co. Ltd. 300 10,030 
Ringer Hut Co. Ltd. 100 2,433 
Rinnai Corp. 1,861 185,385 
Riso Kagaku Corp. 100 2,005 
ROHM Co. Ltd. 4,000 373,948 
Rohto Pharmaceutical Co. Ltd. 4,600 134,440 
Round One Corp. 2,100 30,582 
Royal Holdings Co. Ltd. 100 2,723 
Ryobi Ltd. 1,500 38,310 
Ryohin Keikaku Co. Ltd. 983 337,648 
Ryosan Co. Ltd. 200 7,464 
Saizeriya Co. Ltd. 1,600 37,073 
Sakai Moving Service Co. Ltd. 400 21,698 
Sakata INX Corp. 1,600 24,501 
Sakata Seed Corp. 700 25,709 
San-A Co. Ltd. 1,000 53,330 
San-Ai Oil Co. Ltd. 2,200 34,694 
Sanden Holdings Corp. (a) 200 2,920 
Sangetsu Corp. 1,000 20,682 
Sanken Electric Co. Ltd. 9,000 57,958 
Sanki Engineering Co. Ltd. 2,100 23,436 
Sankyo Co. Ltd. (Gunma) 3,400 119,585 
Sankyo Tateyama, Inc. 400 5,942 
Sankyu, Inc. 2,500 121,661 
Sanrio Co. Ltd. 900 16,605 
Santen Pharmaceutical Co. Ltd. 14,360 242,355 
Sanwa Holdings Corp. 5,800 74,755 
Sanyo Chemical Industries Ltd. 100 4,729 
Sanyo Special Steel Co. Ltd. 1,200 30,615 
Sapporo Breweries Ltd. 3,800 108,800 
Sato Holding Corp. 1,700 47,818 
Sawai Pharmaceutical Co. Ltd. 2,700 117,069 
SBI Holdings, Inc. Japan 9,200 232,861 
Screen Holdings Co. Ltd. 1,500 123,628 
SCSK Corp. 1,800 77,223 
Secom Co. Ltd. 8,133 610,198 
Sega Sammy Holdings, Inc. 8,019 131,743 
Seibu Holdings, Inc. 11,200 189,433 
Seikagaku Corp. 2,200 36,566 
Seiko Epson Corp. 11,773 221,309 
Seiko Holdings Corp. 3,200 83,630 
Seino Holdings Co. Ltd. 7,000 131,458 
Seiren Co. Ltd. 4,100 79,285 
Sekisui Chemical Co. Ltd. 18,400 326,528 
Sekisui House (REIT), Inc. 87 56,106 
Sekisui House Ltd. 25,980 476,371 
Sekisui House SI Residential Investment Corp. 30 31,922 
Sekisui Jushi Corp. 3,100 67,660 
SENKO Co. Ltd. 3,300 25,417 
Senshu Ikeda Holdings, Inc. 17,690 69,906 
Septeni Holdings Co. Ltd. 1,000 2,580 
Seria Co. Ltd. 2,000 98,061 
Seven & i Holdings Co. Ltd. 30,529 1,345,133 
Seven Bank Ltd. 16,000 53,860 
Sharp Corp. (b) 6,300 185,277 
Shibuya Corp. 200 6,851 
Shiga Bank Ltd. 5,000 25,338 
Shikoku Electric Power Co., Inc. 8,900 113,245 
Shima Seiki Manufacturing Ltd. 1,200 76,400 
Shimachu Co. Ltd. 2,900 93,775 
Shimadzu Corp. 9,500 258,617 
Shimamura Co. Ltd. 1,200 139,956 
SHIMANO, Inc. 3,165 420,958 
SHIMIZU Corp. 22,600 224,098 
Shin-Etsu Chemical Co. Ltd. 16,135 1,624,274 
Shinko Electric Industries Co. Ltd. 1,800 14,111 
Shinmaywa Industries Ltd. 1,000 11,233 
Shinsei Bank Ltd. 10,100 157,801 
Shionogi & Co. Ltd. 12,200 628,749 
Ship Healthcare Holdings, Inc. 2,800 97,457 
Shiseido Co. Ltd. 15,755 1,024,969 
Shizuoka Bank Ltd. 29,000 294,987 
Shizuoka Gas Co. Ltd. 3,800 34,413 
SHO-BOND Holdings Co. Ltd. 1,600 121,186 
Shochiku Co. Ltd. 800 117,673 
Showa Corp. 3,200 47,947 
Showa Denko K.K. 5,982 200,002 
Showa Sangyo Co. Ltd. 200 5,295 
Showa Shell Sekiyu K.K. 7,000 99,058 
Siix Corp. 1,400 28,187 
Sintokogio Ltd. 600 6,422 
SKY Perfect JSAT Holdings, Inc. 3,000 13,694 
Skylark Co. Ltd. 9,100 134,019 
SMC Corp. 2,367 903,323 
SMS Co., Ltd. 1,100 41,758 
Sodick Co. Ltd. 600 7,431 
SoftBank Corp. 34,501 2,636,177 
Sohgo Security Services Co., Ltd. 3,100 153,412 
Sojitz Corp. 49,100 162,140 
Sony Corp. 52,805 2,466,317 
Sony Financial Holdings, Inc. 8,200 149,943 
Sosei Group Corp. (a) 928 64,345 
Sotetsu Holdings, Inc. 2,200 63,191 
Square Enix Holdings Co. Ltd. 3,700 154,336 
St. Marc Holdings Co. Ltd. 100 2,836 
Stanley Electric Co. Ltd. 6,339 229,913 
Star Micronics Co. Ltd. 2,800 50,304 
Start Today Co. Ltd. 8,200 237,029 
Starts Corp., Inc. 500 13,836 
Subaru Corp. 25,525 859,005 
Sugi Holdings Co. Ltd. 1,100 64,197 
Sumco Corp. 9,800 242,221 
Sumitomo Bakelite Co. Ltd. 12,000 108,672 
Sumitomo Chemical Co. Ltd. 67,000 385,501 
Sumitomo Corp. 48,500 873,772 
Sumitomo Electric Industries Ltd. 31,000 476,258 
Sumitomo Forestry Co. Ltd. 6,123 101,770 
Sumitomo Heavy Industries Ltd. 5,347 204,939 
Sumitomo Metal Mining Co. Ltd. 10,100 434,045 
Sumitomo Mitsui Construction Co. Ltd. 3,060 18,754 
Sumitomo Mitsui Financial Group, Inc. 55,633 2,318,687 
Sumitomo Mitsui Trust Holdings, Inc. 13,600 577,988 
Sumitomo Osaka Cement Co. Ltd. 14,036 64,325 
Sumitomo Realty & Development Co. Ltd. 14,787 588,261 
Sumitomo Riko Co. Ltd. 500 5,237 
Sumitomo Rubber Industries Ltd. 6,100 109,200 
Sumitomo Seika Chemicals Co. Ltd. 100 4,793 
Sundrug Co. Ltd. 2,741 141,162 
Suntory Beverage & Food Ltd. 5,700 281,037 
Sushiro Global Holdings Ltd. 1,500 77,936 
Suzuken Co. Ltd. 4,600 198,189 
Suzuki Motor Corp. 14,440 778,138 
Sysmex Corp. 6,500 575,558 
SystemPro Co. Ltd. 900 34,248 
T&D Holdings, Inc. 22,400 380,915 
Tachi-S Co. Ltd. 1,100 19,973 
Tadano Ltd. 3,500 54,107 
Taiheiyo Cement Corp. 4,791 181,657 
Taikisha Ltd. 1,100 38,438 
Taisei Corp. 8,100 437,898 
Taisho Pharmaceutical Holdings Co. Ltd. 2,000 191,914 
Taiyo Holdings Co. Ltd. 500 21,336 
Taiyo Nippon Sanso Corp. 3,900 57,901 
Taiyo Yuden Co. Ltd. 3,100 55,268 
Takara Bio, Inc. 3,100 60,429 
Takara Holdings, Inc. 11,769 142,322 
Takara Leben Co. Ltd. 300 1,276 
Takara Standard Co. Ltd. 1,200 20,417 
Takasago International Corp. 100 3,124 
Takasago Thermal Engineering Co. Ltd. 500 9,509 
Takashimaya Co. Ltd. 14,000 120,381 
Takeda Pharmaceutical Co. Ltd. 29,921 1,259,975 
Takeuchi Manufacturing Co. Ltd. 1,300 29,860 
Takuma Co. Ltd. 3,000 32,986 
Tamron Co. Ltd. 300 6,098 
TDK Corp. 5,381 465,152 
TechnoPro Holdings, Inc. 1,800 104,720 
TECMO KOEI HOLDINGS CO., LTD. 400 8,266 
Teijin Ltd. 7,600 143,282 
Tekken Corp. 100 3,000 
Temp Holdings Co., Ltd. 8,200 195,249 
Terumo Corp. 13,400 759,971 
The Aichi Bank Ltd. 100 4,784 
The Aomori Bank Ltd. 1,000 31,239 
The Awa Bank Ltd. 21,000 137,541 
The Bank of Iwate Ltd. 2,200 86,334 
The Bank of Okinawa Ltd. 500 21,039 
The Bank of Saga Ltd. 300 6,894 
The Chugoku Bank Ltd. 10,700 124,403 
The Chukyo Bank Ltd. 1,400 30,159 
The Daishi Bank Ltd., Niigata 1,792 80,486 
The Eighteenth Bank Ltd. 1,000 2,653 
The Hachijuni Bank Ltd. 12,800 67,794 
The Hokkoku Bank Ltd. 500 19,987 
The Hokuetsu Bank Ltd. 100 2,222 
The Hyakugo Bank Ltd. 7,000 32,720 
The Keiyo Bank Ltd. 6,000 27,497 
The Kiyo Bank Ltd. 1,800 29,358 
The Miyazaki Bank Ltd. 100 3,243 
The Musashino Bank Ltd. 900 30,008 
The Nanto Bank Ltd. 500 13,904 
The Oita Bank Ltd. 1,000 36,727 
The Okinawa Electric Power Co., Inc. 1,430 43,559 
The Pack Corp. 300 11,375 
The San-In Godo Bank Ltd. 4,500 42,440 
The Shikoku Bank Ltd. 200 2,925 
The Sumitomo Warehouse Co. Ltd. 1,000 6,870 
The Suruga Bank Ltd. 7,900 107,530 
The Tochigi Bank Ltd. 400 1,518 
The Toho Bank Ltd. 9,000 34,989 
The Towa Bank Ltd. 1,400 18,710 
The Yamagata Bank Ltd. 200 4,424 
The Yamanashi Chuo Bank Ltd. 17,000 75,265 
THK Co. Ltd. 5,300 185,684 
TKC Corp. 1,400 56,028 
Toagosei Co. Ltd. 9,400 111,352 
Tobu Railway Co. Ltd. 8,800 280,937 
Toc Co. Ltd. 2,400 21,295 
Tocalo Co. Ltd. 3,600 44,885 
Toda Corp. 11,000 90,962 
Toei Co. Ltd. 100 11,242 
Toho Co. Ltd. 6,300 210,922 
Toho Gas Co. Ltd. 3,500 106,293 
Toho Holdings Co. Ltd. 1,200 29,374 
Toho Zinc Co. Ltd. 1,000 46,469 
Tohoku Electric Power Co., Inc. 22,100 285,246 
Tokai Carbon Co. Ltd. 8,000 100,622 
TOKAI Holdings Corp. 3,000 30,516 
Tokai Rika Co. Ltd. 2,100 42,069 
Tokai Tokyo Financial Holdings 9,400 68,359 
Token Corp. 200 19,155 
Tokio Marine Holdings, Inc. 27,693 1,310,174 
Tokushu Tokai Paper Co. Ltd. 400 15,679 
Tokuyama Corp. 2,935 87,658 
Tokyo Broadcasting System Holding 700 15,585 
Tokyo Century Corp. 2,000 125,137 
Tokyo Dome Corp. 9,900 96,356 
Tokyo Electric Power Co., Inc. (a) 55,228 263,207 
Tokyo Electron Ltd. 6,523 1,256,328 
Tokyo Gas Co. Ltd. 16,135 432,746 
Tokyo Ohka Kogyo Co. Ltd. 2,000 70,527 
Tokyo Seimitsu Co. Ltd. 2,800 107,190 
Tokyo Steel Manufacturing Co. Ltd. 4,700 39,339 
Tokyo Tatemono Co. Ltd. 8,800 134,190 
Tokyo TY Financial Group, Inc. 1,500 39,695 
Tokyotokeiba Co. Ltd. 1,200 46,213 
Tokyu Construction Co. Ltd. 2,500 26,802 
Tokyu Corp. 20,500 345,230 
Tokyu Fudosan Holdings Corp. 19,300 152,183 
Tokyu REIT, Inc. 19 25,584 
TOMONY Holdings, Inc. 3,900 17,445 
Tomy Co. Ltd. 2,500 24,607 
Topcon Corp. 3,760 74,980 
Toppan Forms Co. Ltd. 300 3,351 
Toppan Printing Co. Ltd. 31,000 259,751 
Topre Corp. 4,000 125,869 
Topy Industries Ltd. 100 2,968 
Toray Industries, Inc. 62,900 587,145 
TORIDOLL Holdings Corp. 800 26,894 
Toshiba Corp. (a) 271,527 727,748 
Toshiba Machine Co. Ltd. 5,000 33,297 
Toshiba Plant Systems & Services Corp. 4,600 96,191 
Toshiba Tec Corp. 14,000 80,168 
Tosho Co. Ltd. 200 7,364 
Tosoh Corp. 13,100 232,713 
Totetsu Kogyo Co. Ltd. 400 11,965 
Toto Ltd. 5,900 335,154 
Towa Pharmaceutical Co. Ltd. 100 6,367 
Toyo Engineering Corp. 200 2,086 
Toyo Ink South Carolina Holdings Co. Ltd. 22,749 140,673 
Toyo Seikan Group Holdings Ltd. 8,400 132,393 
Toyo Suisan Kaisha Ltd. 4,036 159,121 
Toyo Tire & Rubber Co. Ltd. 7,200 123,161 
Toyobo Co. Ltd. 3,200 62,466 
Toyoda Gosei Co. Ltd. 5,700 144,638 
Toyota Boshoku Corp. 1,800 37,986 
Toyota Industries Corp. 7,000 414,288 
Toyota Motor Corp. 108,492 7,114,081 
Toyota Tsusho Corp. 7,849 282,527 
TPR Co. Ltd. 1,200 36,498 
Trancom Co. Ltd. 100 7,592 
Trans Cosmos, Inc. 300 8,315 
Trend Micro, Inc. 4,600 276,034 
Trusco Nakayama Corp. 3,200 84,244 
TS tech Co. Ltd. 1,600 65,203 
TSI Holdings Co. Ltd. 5,300 42,421 
Tsubaki Nakashima Co. Ltd. 3,400 80,428 
Tsubakimoto Chain Co. 6,000 52,141 
Tsugami Corp. 4,000 48,445 
Tsukui Corp. 600 4,748 
Tsumura & Co. 2,084 75,872 
Tsuruha Holdings, Inc. 1,500 215,834 
TV Asahi Corp. 100 2,353 
Uacj Corp. 1,600 41,698 
Ube Industries Ltd. 4,400 134,431 
Ulvac, Inc. 1,959 105,548 
Unicharm Corp. 16,100 452,868 
Unipres Corp. 1,800 42,596 
United Arrows Ltd. 400 14,764 
United Super Markets Holdings, Inc. 2,500 32,885 
United Technology Holdings Co. Ltd. (a) 1,500 41,507 
United Urban Investment Corp. 116 178,053 
Unitika Ltd. (a) 300 1,981 
Universal Entertainment Corp. 1,000 47,567 
Unizo Holdings Co. Ltd. 100 2,392 
Ushio, Inc. 3,100 43,783 
USS Co. Ltd. 8,500 178,911 
V Technology Co. Ltd. 200 52,360 
Valor Holdings Co. Ltd. 4,400 122,960 
Vector, Inc. 900 17,420 
VT Holdings Co. Ltd. 400 1,826 
W-Scope Corp. 800 11,936 
Wacoal Holdings Corp. 2,000 60,739 
Wacom Co. Ltd. 4,200 21,284 
Welcia Holdings Co. Ltd. 3,100 159,651 
West Japan Railway Co. 6,956 493,130 
Xebio Holdings Co. Ltd. 500 9,445 
YA-MAN Ltd. 1,600 34,907 
Yahoo! Japan Corp. 60,865 250,542 
Yakult Honsha Co. Ltd. 4,600 328,211 
YAMABIKO Corp. 200 2,874 
Yamada Denki Co. Ltd. 27,810 146,020 
Yamaguchi Financial Group, Inc. 16,000 200,220 
Yamaha Corp. 7,100 343,569 
Yamaha Motor Co. Ltd. 12,807 410,030 
Yamato Holdings Co. Ltd. 14,300 368,553 
Yamato Kogyo Co. Ltd. 3,800 112,971 
Yamazaki Baking Co. Ltd. 7,300 160,130 
Yamazen Co. Ltd. 300 3,041 
Yaoko Co. Ltd. 400 22,247 
Yaskawa Electric Corp. 10,400 425,247 
Yodogawa Steel Works Ltd. 900 25,727 
Yokogawa Bridge Holdings Corp. 2,300 50,263 
Yokogawa Electric Corp. 9,012 199,003 
Yokohama Reito Co. Ltd. 800 8,123 
Yokohama Rubber Co. Ltd. 6,300 148,971 
Yondoshi Holdings, Inc. 1,600 39,458 
YONEX Co. Ltd. 400 2,236 
Yoshinoya Holdings Co. Ltd. 2,300 42,773 
Yuasa Trading Co. Ltd. 400 12,825 
Zenkoku Hosho Co. Ltd. 2,500 103,481 
Zenrin Co. Ltd. 1,050 21,236 
Zensho Holdings Co. Ltd. 6,300 146,839 
Zeon Corp. 6,000 77,991 
ZERIA Pharmaceutical Co. Ltd. 2,300 47,317 
Zojirushi Thermos 600 8,079 
TOTAL JAPAN  186,916,791 
Korea (South) - 3.7%   
Advanced Process Systems Corp. (a) 72 1,553 
AhnLab, Inc. 84 5,028 
AMOREPACIFIC Corp. 1,380 449,723 
AMOREPACIFIC Group, Inc. 1,471 196,422 
Asiana Airlines, Inc. (a) 10,253 50,742 
BGF Retail Co. Ltd. 506 90,245 
BGFretail Co. Ltd. 304 3,605 
BS Financial Group, Inc. 16,547 161,464 
Bukwang Pharmaceutical Co. Ltd. 1,599 38,821 
Celltrion Healthcare Co. Ltd. 1,493 125,192 
Celltrion Pharm, Inc. 791 64,186 
Celltrion, Inc. 3,385 856,582 
Cheil Industries, Inc. 3,452 451,273 
Cheil Worldwide, Inc. 1,563 27,876 
Chong Kun Dang Pharmaceutical Corp. 163 17,808 
CJ CGV Co. Ltd. 1,440 99,906 
CJ CheilJedang Corp. 476 152,455 
CJ Corp. 834 126,549 
CJ E&M Corp. 1,425 120,422 
CJ O Shopping Co. Ltd. 169 35,286 
Com2uS Corp. 659 98,457 
Cosmax, Inc. 761 111,564 
Coway Co. Ltd. 2,291 187,186 
Daelim Industrial Co. 2,063 165,668 
Daesang Corp. 710 17,635 
Daewoo Engineering & Construction Co. Ltd. (a) 8,142 48,278 
Daewoong Pharmaceutical Co. Ltd. 322 53,520 
Daou Technology, Inc. 1,864 42,034 
Db Insurance Co. Ltd. 3,542 208,037 
DGB Financial Group Co. Ltd. 9,863 110,518 
DIO Corp. (a) 21 818 
Dong Suh Companies, Inc. 448 11,525 
Dong-A Socio Holdings Co. Ltd. 706 
Dongbu HiTek Co. Ltd. 1,070 13,438 
Dongkuk Steel Mill Co. Ltd. 3,645 37,440 
Dongwon Industries Co. 2,841 
Doosan Bobcat, Inc. 975 29,680 
Doosan Heavy Industries & Construction Co. Ltd. 4,885 81,650 
Doosan Infracore Co. Ltd. (a) 8,372 80,130 
DOUBLEUGAMES Co. Ltd. 331 19,317 
DuzonBizon Co. Ltd. 1,292 59,598 
E-Mart Co. Ltd. 884 222,873 
Ecopro Co. Ltd. (a) 1,658 56,199 
EO Technics Co. Ltd. 146 10,252 
Fila Korea Ltd. 535 65,194 
Foosung Co. Ltd. (a) 328 2,885 
G-treeBNT Co. Ltd. (a) 987 43,501 
GemVax & Kael Co. Ltd. (a) 176 3,155 
Genexine Co. Ltd. (a) 932 95,904 
Grand Korea Leisure Co. Ltd. 2,509 63,959 
Green Cross Corp. 278 56,201 
Green Cross Holdings Corp. 407 14,518 
GS Engineering & Construction Corp. 4,986 189,956 
GS Holdings Corp. 1,825 104,463 
GS Retail Co. Ltd. 2,772 96,289 
Halla Holdings Corp. 157 7,506 
Hana Financial Group, Inc. 12,790 570,276 
Hana Tour Service, Inc. 861 95,673 
HanAll BioPharma Co. Ltd. (a) 1,336 38,112 
Handsome Co. Ltd. 125 3,875 
Hanjin Kal Corp. 2,719 62,204 
Hankook Tire Co. Ltd. 3,713 171,448 
Hankook Tire Worldwide Co. Ltd. 144 2,461 
Hanmi Pharm Co. Ltd. 305 132,717 
Hanmi Science Co. Ltd. 660 47,947 
Hanon Systems 6,645 67,634 
Hansae Co. Ltd. 90 1,899 
Hansol Chemical Co. Ltd. 46 3,037 
Hanssem Co. Ltd. 376 40,903 
Hanwha Chemical Corp. 6,545 176,929 
Hanwha Corp. 1,560 58,195 
Hanwha Life Insurance Co. Ltd. 12,105 70,420 
Hanwha Techwin Co. Ltd. (a) 1,726 38,842 
Hite Jinro Co. Ltd. 2,113 43,013 
HLB, Inc. (a) 1,246 141,363 
Homecast Co. Ltd. (a) 104 936 
Hotel Shilla Co. 1,390 150,561 
Huchems Fine Chemical Corp. 136 3,378 
HUGEL, Inc. (a) 80 37,702 
Hyosung Corp. 729 89,515 
Hyundai Construction Equipment Co. Ltd. 174 30,871 
Hyundai Department Store Co. Ltd. 1,235 119,357 
Hyundai Electric & Energy System Co. Ltd. 54 4,740 
Hyundai Elevator Co. Ltd. 1,002 97,307 
Hyundai Engineering & Construction Co. Ltd. 4,299 255,309 
Hyundai Fire & Marine Insurance Co. Ltd. 2,065 73,755 
Hyundai Glovis Co. Ltd. 1,230 193,529 
Hyundai Greenfood Co. Ltd. 1,111 15,976 
Hyundai Heavy Industries Co. Ltd. (a) 1,708 190,589 
Hyundai Home Shopping Network Corp. 100 10,131 
Hyundai Industrial Development & Construction Co. (d) 2,332 101,039 
Hyundai Merchant Marine Co. Ltd. (a) 17,796 100,868 
Hyundai Mipo Dockyard Co. Ltd. (a) 510 42,622 
Hyundai Mobis 2,841 657,906 
Hyundai Motor Co. 6,800 1,015,944 
Hyundai Robotics Co. Ltd. 380 149,917 
Hyundai Rotem Co. Ltd. (a) 47 1,172 
Hyundai Steel Co. 4,123 233,307 
Hyundai Wia Corp. 1,099 55,108 
Iljin Materials Co. Ltd. 437 13,650 
Illinois-Yang Pharmaceutical Co. Ltd. 24 919 
Industrial Bank of Korea 11,646 183,239 
ING Life Insurance Korea Ltd. (c) 2,082 80,097 
INNOCEAN Worldwide, Inc. 16 992 
iNtRON Biotechnology, Inc. (a) 998 41,843 
IS Dongseo Co. Ltd. 24 733 
JB Financial Group Co. Ltd. 10,696 61,424 
Jeil Pharmaceutical Co. Ltd. 60 2,258 
Jenax, Inc. (a) 1,126 29,703 
JW Holdings Corp. 118 954 
JW Pharmaceutical Corp. 102 3,962 
Kakao Corp. 1,883 195,171 
Kakao M Corp. 493 41,201 
Kangwon Land, Inc. 4,549 122,759 
KB Financial Group, Inc. 16,545 937,482 
KC Tech Co. Ltd. 264 5,054 
KC Tech Co. Ltd. 387 7,661 
KCC Corp. 369 134,724 
KEPCO Plant Service & Engineering Co. Ltd. 1,160 54,917 
Kia Motors Corp. 12,246 378,498 
Kiwoom Securities Co. Ltd. 1,216 134,553 
Koh Young Technology, Inc. 946 89,925 
Kolon Industries, Inc. 569 36,342 
Kolon Life Science, Inc. 175 12,991 
Komipharm International Co. Ltd. (a) 2,473 90,060 
Korea Aerospace Industries Ltd. 2,771 111,779 
Korea Electric Power Corp. 10,013 349,332 
Korea Electric Terminal Co. Ltd. 40 1,890 
Korea Express Co. Ltd. (a) 197 28,789 
Korea Gas Corp. (a) 1,263 64,629 
Korea Investment Holdings Co. Ltd. 1,599 136,022 
Korea Kolmar Co. Ltd. 356 27,192 
Korea Petro Chemical Industries Co. Ltd. 202 51,965 
Korea Real Estate Investment Trust Co. 960 2,761 
Korea Zinc Co. Ltd. 409 165,559 
Korean Air Lines Co. Ltd. 2,873 91,615 
Korean Reinsurance Co. 3,067 33,794 
KT Corp. 90 2,282 
KT Corp. sponsored ADR 640 8,595 
KT Skylife Co. Ltd. 136 1,587 
KT&G Corp. 5,524 504,468 
Kumho Petro Chemical Co. Ltd. 922 92,551 
Kumho Tire Co., Inc. (a) 6,369 36,992 
Kwangju Bank Co. Ltd. 223 2,332 
LG Chemical Ltd. 1,842 619,203 
LG Corp. 3,711 281,030 
LG Display Co. Ltd. 12,325 268,383 
LG Electronics, Inc. 4,601 438,221 
LG Fashion Corp. 1,267 33,363 
LG Hausys Ltd. 145 11,021 
LG Home Shopping, Inc. 38 6,171 
LG Household & Health Care Ltd. 379 484,843 
LG Innotek Co. Ltd. 911 99,103 
LG International Corp. 1,950 48,162 
Lotte Chemical Corp. 660 255,144 
Lotte Chilsung Beverage Co. Ltd. 16 24,203 
Lotte Confectionery Co. Ltd. 23 4,081 
Lotte Confectionery Co. Ltd. 1,762 107,109 
Lotte Fine Chemical Co. Ltd. 1,033 66,171 
LOTTE Hi-Mart Co. Ltd. 97 6,748 
Lotte Samkang Co. Ltd. 696 
Lotte Shopping Co. Ltd. 562 134,344 
LS Cable Ltd. 839 61,030 
LS Industrial Systems Ltd. 338 21,651 
Mando Corp. 327 69,313 
Medipost Co. Ltd. (a) 320 37,321 
Medy-Tox, Inc. 157 102,270 
Meritz Financial Holdings Co. 497 6,474 
Meritz Fire & Marine Insurance Co. Ltd. 1,224 23,945 
Meritz Securities Co. Ltd. 30,015 116,733 
Mirae Asset Daewoo Co. Ltd. 17,391 158,820 
Mirae Asset Life Insurance Co. Ltd. 883 4,510 
NAVER Corp. 1,174 784,914 
NCSOFT Corp. 707 237,664 
Netmarble Corp. (c) 1,103 151,918 
Nexen Corp. 3,437 23,075 
Nexen Tire Corp. 309 3,477 
NHN Entertainment Corp. (a) 450 25,884 
Nong Shim Co. Ltd. 55 16,640 
Oci Co. Ltd. 881 128,334 
Orion Corp./Republic of Korea 792 92,074 
Orion Holdings Corp. 184 4,209 
Osstem Implant Co. Ltd. (a) 126 6,471 
Ottogi Corp. 19 14,087 
Paradise Co. Ltd. 2,531 55,185 
Partron Co. Ltd. 892 7,005 
Poongsan Corp. 1,184 42,178 
POSCO 3,089 1,061,491 
POSCO Chemtech Co. Ltd. 1,079 37,077 
Posco Daewoo Corp. 1,030 21,688 
S&T Motiv Co. Ltd. 21 643 
S-Oil Corp. 1,872 192,282 
S.M. Entertainment Co. Ltd. (a) 1,057 35,285 
S1 Corp. 1,567 143,542 
Samlip General Food Co. Ltd. 19 2,289 
Samsung Biologics Co. Ltd. (a)(c) 703 320,344 
Samsung Card Co. Ltd. 273 9,509 
Samsung Electro-Mechanics Co. Ltd. 2,256 249,631 
Samsung Electronics Co. Ltd. 3,910 9,688,980 
Samsung Engineering Co. Ltd. (a) 8,488 142,269 
Samsung Fire & Marine Insurance Co. Ltd. 1,426 356,192 
Samsung Heavy Industries Co. Ltd. (a) 17,146 117,677 
Samsung Life Insurance Co. Ltd. 3,212 350,915 
Samsung SDI Co. Ltd. 2,331 399,410 
Samsung SDS Co. Ltd. 1,450 331,723 
Samsung Securities Co. Ltd. 3,201 110,892 
Samyang Holdings Corp. 20 2,073 
Sebang Global Battery Co. Ltd. 44 1,335 
Seegene, Inc. (a) 124 4,041 
Seoul Semiconductor Co. Ltd. 3,465 61,475 
SFA Engineering Corp. 764 23,150 
Shinhan Financial Group Co. Ltd. 18,958 841,870 
Shinsegae Co. Ltd. 400 155,940 
SillaJen, Inc. (a) 2,196 172,452 
SK C&C Co. Ltd. 1,237 339,592 
SK Chemicals Co. Ltd. 563 22,422 
SK Chemicals Co. Ltd./New (a) 604 57,246 
SK Energy Co. Ltd. 2,936 538,716 
SK Gas Co. Ltd. 28 2,455 
SK Hynix, Inc. 24,141 1,904,815 
SK Materials Co., Ltd. 159 22,879 
SK Networks Co. Ltd. 2,149 11,278 
SK Securities Co. Ltd. (a) 9,793 11,110 
SK Telecom Co. Ltd. 1,060 225,875 
SKC Co. Ltd. 1,350 48,029 
Soulbrain Co. Ltd. 328 18,070 
Ssangyong Cement Industrial Co. Ltd. 2,044 56,973 
STX Pan Ocean Co. Ltd. (Korea) (a) 6,095 31,302 
Taekwang Industrial Co. Ltd. 2,424 
Telcon, Inc. (a) 2,567 33,917 
Texcell-NetCom Co. Ltd. (a) 1,752 35,664 
Tong Yang Life Insurance Co. Ltd. 381 2,932 
Tongyang, Inc. 451 926 
Toptec Co. Ltd. 877 21,824 
Vieworks Co. Ltd. 36 1,304 
ViroMed Co. Ltd. (a) 589 119,073 
WONIK IPS Co. Ltd. 486 15,520 
Woori Bank 20,754 311,041 
Woori Investment & Securities Co. Ltd. 13,695 199,493 
Youngone Corp. 229 6,394 
Yuhan Corp. 256 54,741 
YUNGJIN Pharmaceutical Co. Ltd. (a) 5,131 41,108 
TOTAL KOREA (SOUTH)  39,316,242 
Luxembourg - 0.3%   
ADO Properties SA (c) 1,507 82,913 
Aperam 3,386 165,070 
ArcelorMittal SA (Netherlands) 28,024 950,785 
B&M European Value Retail S.A. 32,936 183,775 
Eurofins Scientific SA 510 275,789 
Grand City Properties SA 5,522 133,367 
Millicom International Cellular SA (depository receipt) 2,517 167,864 
PLAY Communications SA (c) 7,880 66,545 
RTL Group SA 2,147 176,953 
SAF-Holland SA 3,387 63,152 
Senvion SA (a) 939 12,337 
SES SA (France) (depositary receipt) 15,621 241,458 
Solutions 30 SE (a) 1,361 67,550 
Subsea 7 SA 11,436 160,657 
Tenaris SA 19,288 361,481 
TOTAL LUXEMBOURG  3,109,696 
Malaysia - 0.6%   
AEON Credit Service Bhd 450 1,498 
AirAsia Group BHD 43,900 42,909 
Alliance Bank Malaysia Bhd 40,000 44,182 
AMMB Holdings Bhd 63,200 62,452 
Astro Malaysia Holdings Bhd (c) 91,400 44,287 
Axiata Group Bhd 118,512 159,097 
Berjaya Sports Toto Bhd 6,300 3,370 
British American Tobacco (Malaysia) Bhd 8,200 51,155 
Bumi Armada Bhd (a) 81,700 17,423 
Bumiputra-Commerce Holdings Bhd 240,263 438,092 
Bursa Malaysia Bhd 25,200 46,257 
Cahya Mata Sarawak Bhd 36,300 37,322 
Carlsberg Brewery BHD 6,000 30,253 
Dialog Group Bhd 155,100 121,262 
DiGi.com Bhd 103,800 121,899 
Felda Global Ventures Holdings Bhd (c) 123,800 53,606 
Gamuda Bhd 78,400 102,424 
Genting Bhd 91,600 208,129 
Genting Malaysia Bhd 126,000 164,132 
Genting Plantations Bhd 5,700 14,394 
Hap Seng Consolidated Bhd 35,500 88,377 
Hartalega Holdings Bhd 62,000 92,321 
Hong Leong Bank Bhd 27,300 131,684 
Hong Leong Credit Bhd 7,900 39,021 
IGB (REIT) 92,500 37,541 
IHH Healthcare Bhd (c) 95,100 147,000 
IJM Corp. Bhd 125,600 95,133 
Inari Amertron Bhd 72,450 31,397 
IOI Corp. Bhd 78,900 95,905 
IOI Properties Group Bhd 134,175 53,310 
Kossan Rubber Industries Bhd 14,900 25,306 
KPJ Healthcare Bhd 198,000 46,749 
Kuala Lumpur Kepong Bhd 25,100 162,753 
Lafarge Malaysia Bhd (a) 17,400 18,659 
Mah Sing Group Bhd 78,600 20,375 
Malayan Banking Bhd 176,850 485,076 
Malaysia Airports Holdings Bhd 33,800 77,475 
Malaysia Building Society Bhd 98,258 28,695 
Maxis Bhd 78,000 115,577 
MISC Bhd 93,300 169,501 
My E.G.Services Bhd 142,050 94,240 
Nestle (Malaysia) BHD 5,100 179,242 
Osk Holdings Bhd 3,750 952 
Petronas Chemicals Group Bhd 94,500 203,126 
Petronas Dagangan Bhd 13,700 94,091 
Petronas Gas Bhd 27,400 124,036 
POS Malaysia & Services Holding BHD 2,300 2,155 
PPB Group Bhd 16,700 81,757 
Press Metal Bhd 60,000 73,240 
Public Bank Bhd 118,300 716,195 
QL Resources Bhd 17,550 22,968 
RHB Capital Bhd 61,100 82,198 
SapuraKencana Petroleum Bhd 144,500 23,275 
Sime Darby Bhd 77,089 52,233 
Sime Darby Plantation Bhd 99,689 141,388 
Sime Darby Property Bhd 77,089 29,223 
SP Setia Bhd 73,395 59,458 
Sunway (REIT) 92,800 38,065 
Sunway Bhd 66,320 25,451 
Telekom Malaysia Bhd 59,300 79,805 
Tenaga Nasional Bhd 140,300 565,231 
TIME dotCom Bhd 14,400 29,310 
Top Glove Corp. Bhd 25,800 62,314 
UEM Land Holdings Bhd 9,900 2,320 
UMW Holdings Bhd (a) 33,700 52,348 
UMW Oil & Gas Corp. Bhd (a) 26,254 1,787 
UOA Development Bhd 4,000 2,473 
Westports Holdings Bhd 100,200 84,699 
Yinson Holdings Bhd 23,500 23,637 
YTL Corp. Bhd 207,534 76,316 
YTL Power International Bhd 60,588 14,156 
TOTAL MALAYSIA  6,763,687 
Malta - 0.0%   
Brait SA 18,088 62,502 
Kindred Group PLC (depositary receipt) 8,729 113,092 
TOTAL MALTA  175,594 
Marshall Islands - 0.0%   
Seaspan Corp. (b) 665 5,114 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 246,700 63,966 
Mexico - 0.7%   
Alfa SA de CV Series A 113,000 145,071 
Alsea S.A.B. de CV 15,211 56,575 
America Movil S.A.B. de CV Series L 1,410,096 1,305,138 
Banco del Bajio SA (c) 54,900 117,097 
Banco Santander Mexico SA 91,600 135,769 
Bolsa Mexicana de Valores S.A.B. de CV 23,900 46,108 
CEMEX S.A.B. de CV unit 593,532 371,314 
Coca-Cola FEMSA S.A.B. de CV Series L 26,400 171,412 
Compartamos S.A.B. de CV 74,100 59,234 
Concentradora Fibra Danhos SA de CV 1,300 2,312 
Concentradora Fibra Hotelera Mexicana SA de CV (c) 47,600 29,600 
Controladora Comercial Mexicana S.A.B de C.V. (a) 23,100 24,345 
Controladora Vuela Compania de Aviacion S.A.B. de CV (a) 22,000 13,751 
Corporacion Inmobiliaria Vesta S.A.B. de CV 32,100 46,343 
Credito Real S.A.B. de CV 13,100 19,221 
El Puerto de Liverpool S.A.B. de CV Class C 5,300 35,362 
Embotelladoras Arca S.A.B. de CV 15,300 105,747 
Fibra Uno Administracion SA de CV 122,335 202,583 
Fomento Economico Mexicano S.A.B. de CV unit 77,491 749,053 
Genomma Lab Internacional SA de CV (a) 18,100 17,604 
Gruma S.A.B. de CV Series B 10,060 122,875 
Grupo Aeromexico S.A.B. de CV (a) 17,486 24,450 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 12,996 135,185 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 9,415 169,316 
Grupo Aeroportuario Norte S.A.B. de CV 15,800 83,672 
Grupo Bimbo S.A.B. de CV Series A 65,877 153,332 
Grupo Carso SA de CV Series A1 21,327 76,632 
Grupo Comercial Chedraui S.A.B. de CV 3,100 6,499 
Grupo Financiero Banorte S.A.B. de CV Series O 101,839 637,214 
Grupo Financiero Inbursa S.A.B. de CV Series O 100,000 166,613 
Grupo Financiero Interacciones SA de CV 6,100 29,994 
Grupo Herdez S.A.B. de CV 800 1,915 
Grupo Lala S.A.B. de CV 21,000 26,859 
Grupo Mexico SA de CV Series B 151,417 503,346 
Grupo Televisa SA de CV 106,370 381,753 
Hoteles City Express S.A.B. de CV (a) 1,700 2,403 
Industrias Bachoco SA de CV Series B 2,600 13,395 
Industrias CH SA de CV (a) 9,000 44,716 
Industrias Penoles SA de CV 6,145 128,978 
Infraestructura Energetica Nova S.A.B. de CV 28,933 127,369 
Kimberly-Clark de Mexico SA de CV Series A 72,867 132,237 
Macquarie Mexican (REIT) (c) 28,400 30,310 
Mexichem S.A.B. de CV 39,628 123,787 
Minera Frisco S.A.B. de CV (a) 4,100 2,208 
Prologis Property Mexico SA 22,300 41,423 
Promotora y Operadora de Infraestructura S.A.B. de CV 11,275 115,535 
Qualitas Controladora S.A.B. de CV 2,300 6,421 
Regional S.A.B. de CV 27,300 174,409 
Telesites S.A.B. de C.V. (a) 40,900 31,535 
Terrafina 48,800 77,811 
Unifin Financiera SAPI de CV 2,000 7,158 
Wal-Mart de Mexico SA de CV Series V 212,630 590,865 
TOTAL MEXICO  7,823,854 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 87,000 80,895 
HKT Trust/HKT Ltd. unit 189,000 248,665 
Langham Hospitality Investment unit 24,000 10,048 
TOTAL MULTI-NATIONAL  339,608 
Netherlands - 3.0%   
Aalberts Industries NV 5,133 253,151 
ABN AMRO Group NV GDR 17,416 541,142 
Accell Group NV 2,227 52,119 
Accell Group NV rights (a) 2,227 1,345 
AEGON NV 71,511 526,085 
AerCap Holdings NV (a) 5,982 311,842 
Airbus Group NV 24,256 2,847,246 
Akzo Nobel NV 10,462 946,280 
Akzo Nobel NV rights (a) 10,462 24,510 
Altice NV Class A (a) 22,957 220,064 
AMG Advanced Metallurgical Group NV 1,527 71,658 
Arcadis NV 4,056 80,034 
Arcadis NV rights (a) 4,056 2,302 
ASM International NV (Netherlands) 3,633 218,044 
ASML Holding NV (Netherlands) 16,093 3,060,840 
ASR Nederland NV 5,967 282,177 
Basic-Fit NV (a)(c) 1,253 37,752 
BE Semiconductor Industries NV 1,716 118,843 
BinckBank NV 316 1,843 
Brack Capital Properties NV (a) 281 31,231 
Brunel International NV 60 1,079 
CNH Industrial NV 41,299 510,696 
COSMO Pharmaceuticals NV 427 62,520 
CSM NV (exchangeable) 3,479 111,417 
Eurocommercial Properties NV (Certificaten Van Aandelen) unit 2,525 105,807 
Euronext NV (c) 2,394 171,725 
EXOR NV 4,304 319,855 
Ferrari NV 5,199 640,702 
Fiat Chrysler Automobiles NV 44,675 1,001,843 
Flow Traders BV (c) 1,007 39,011 
Fugro NV (Certificaten Van Aandelen) (a) 3,080 48,817 
Gemalto NV 3,203 192,933 
Heineken Holding NV 4,543 461,932 
Heineken NV (Bearer) 10,491 1,105,998 
IMCD Group BV 1,851 114,110 
ING Groep NV (Certificaten Van Aandelen) 160,306 2,701,240 
Intertrust NV (c) 2,942 58,621 
Interxion Holding N.V. (a) 2,888 187,778 
Kendrion NV 921 37,203 
Kendrion NV rights 5/13/18 (a) 921 968 
Koninklijke Ahold Delhaize NV 52,820 1,276,028 
Koninklijke BAM Groep NV 9,121 43,507 
Koninklijke BAM Groep NV rights (a) 9,121 1,101 
Koninklijke Boskalis Westminster NV 5,334 158,264 
Koninklijke DSM NV 7,360 762,763 
Koninklijke KPN NV 156,073 485,736 
Koninklijke Philips Electronics NV 39,013 1,651,273 
Koninklijke Volkerwessels NV 3,756 106,771 
Koninklijke Wessanen NV 7,673 155,204 
NN Group NV 12,545 601,277 
NSI NV 159 6,845 
NSI NV rights 5/9/18 (a) 159 215 
NXP Semiconductors NV (a) 13,937 1,461,991 
OCI NV (a) 3,488 83,021 
Philips Lighting NV (c) 4,672 142,402 
PostNL NV 26,741 104,014 
PostNL NV rights 5/13/18 (a) 26,741 5,490 
QIAGEN NV (Germany) (a) 8,696 286,580 
Randstad NV 4,859 313,219 
RELX NV 41,181 875,997 
RHI Magnesita NV 1,481 87,346 
SBM Offshore NV 9,799 164,837 
Steinhoff International Holdings NV (South Africa) 110,509 17,022 
STMicroelectronics NV (France) 25,541 557,695 
Takeaway.com Holding BV (a)(c) 929 54,074 
TKH Group NV (depositary receipt) 1,651 104,472 
TomTom Group BV (a) 7,482 73,963 
Unilever NV (Certificaten Van Aandelen) (Bearer) 67,992 3,897,885 
VastNed Retail NV 905 45,300 
Vopak NV 3,241 160,076 
Wereldhave NV 1,967 79,099 
Wolters Kluwer NV 12,510 677,250 
TOTAL NETHERLANDS  31,943,480 
New Zealand - 0.2%   
Air New Zealand Ltd. 19,153 44,067 
Argosy Property Ltd. 24,000 17,140 
Auckland International Airport Ltd. 47,043 211,175 
Chorus Ltd. 12,303 35,015 
Contact Energy Ltd. 25,876 97,950 
Fisher & Paykel Healthcare Corp. 22,309 200,132 
Fletcher Building Ltd. 36,219 160,802 
Freightways Ltd. 20,207 106,490 
Genesis Energy Ltd. 24,701 39,104 
Goodman Property Trust 98,744 94,835 
Infratil Ltd. 17,752 39,907 
Kiwi Property Group Ltd. 31,962 30,809 
Mercury Nz Ltd. 30,569 68,612 
Meridian Energy Ltd. 47,067 97,362 
Metlifecare Ltd. 10,948 44,523 
New Zealand Refining Co. Ltd. 2,258 3,734 
Precinct Properties New Zealand Ltd. 32,328 29,115 
Ryman Healthcare Group Ltd. 17,447 130,123 
Sky Network Television Ltd. 8,011 12,851 
SKYCITY Entertainment Group Ltd. 24,272 69,165 
Spark New Zealand Ltd. 77,377 188,371 
Summerset Group Holdings Ltd. 6,250 30,343 
The a2 Milk Co. Ltd. (a) 27,561 235,612 
Trade Maine Group Ltd. 13,543 44,309 
Z Energy Ltd. 21,573 110,046 
TOTAL NEW ZEALAND  2,141,592 
Norway - 0.5%   
Akastor ASA (a) 1,713 3,399 
Aker ASA (A Shares) 736 46,239 
Aker Bp ASA 4,508 148,463 
Aker Solutions ASA (a) 14,785 100,517 
Austevoll Seafood ASA 2,606 31,445 
B2Holding ASA 10,356 26,012 
Borregaard ASA 6,927 73,654 
Det Norske Oljeselskap ASA (DNO) (A Shares) (a) 19,161 35,731 
DNB ASA 40,203 751,850 
Entra ASA (c) 5,779 79,529 
Europris ASA (c) 6,082 21,228 
Gjensidige Forsikring ASA 7,547 119,664 
IDEX ASA (a) 15,306 7,727 
Kongsberg Automotive ASA (a) 6,068 7,110 
Leroy Seafood Group ASA 19,203 141,181 
Marine Harvest ASA 18,070 393,394 
Merkantildata ASA 5,873 87,411 
Nordic Nanovector ASA (a) 1,041 6,441 
Nordic VLSI ASA (a) 8,476 53,567 
Norsk Hydro ASA 52,622 328,675 
Norway Royal Salmon ASA 135 3,201 
Norwegian Air Shuttle A/S (a) 1,512 57,108 
Norwegian Finans Holding ASA (a) 3,567 43,485 
Ocean Yield ASA 229 1,975 
Orkla ASA 35,642 330,283 
Otello Corp. ASA (a) 778 1,993 
Petroleum Geo-Services ASA (a) 14,562 62,914 
Protector Forsikring ASA 1,752 16,358 
Renewable Energy Corp. ASA (a) 21,761 3,714 
Salmar ASA 2,612 122,097 
Schibsted ASA (B Shares) 3,640 98,007 
Skandiabanken ASA (c) 1,730 15,635 
Sparebanken Midt-Norge 4,616 46,377 
Sparebanken Nord-Norge 2,669 19,729 
Statoil ASA 45,534 1,164,428 
Storebrand ASA (A Shares) 23,114 197,940 
Telenor ASA 30,700 679,511 
TGS Nopec Geophysical Co. ASA 3,733 118,286 
Wallenius Wilhelmsen Logistics (a) 3,283 22,713 
XXL ASA (c) 8,237 71,668 
Yara International ASA 7,150 302,139 
TOTAL NORWAY  5,842,798 
Pakistan - 0.0%   
Engro Corp. Ltd. 18,100 48,942 
Fauji Fertilizer Co. Ltd. 31,000 26,759 
Habib Bank Ltd. 43,900 73,958 
Hub Power Co. Ltd. 17,200 15,338 
Lucky Cement Ltd. 7,200 41,193 
MCB Bank Ltd. 28,400 51,322 
National Bank of Pakistan 15,500 6,801 
Oil & Gas Development Co. Ltd. 34,300 49,484 
Pakistan State Oil Co. Ltd. 8,330 24,459 
United Bank Ltd. 39,600 68,907 
TOTAL PAKISTAN  407,163 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 52,712 310,108 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 9,088 144,954 
Grana y Montero SAA sponsored ADR (a)(b) 2,645 8,808 
TOTAL PERU  153,762 
Philippines - 0.2%   
Aboitiz Equity Ventures, Inc. 59,760 80,414 
Aboitiz Power Corp. 140,300 102,995 
Alliance Global Group, Inc. (a) 125,700 31,709 
Ayala Corp. 10,995 204,831 
Ayala Land, Inc. 284,300 223,742 
Bank of the Philippine Islands (BPI) 49,604 100,554 
BDO Unibank, Inc. 73,283 186,162 
Benpres Holdings Corp. 43,900 3,660 
Bloomberry Resorts Corp. 131,300 31,150 
Cebu Air, Inc. 5,790 9,857 
CEMEX Holdings Philippines, Inc. (a) 12,400 859 
Cosco Capital, Inc. 9,000 1,165 
D&L Industries, Inc. 313,200 65,649 
DMCI Holdings, Inc. 89,300 19,011 
DoubleDragon Properties Corp. 7,760 4,682 
Filinvest Land, Inc. 24,000 766 
First Gen Corp. 9,200 2,771 
First Phillipines Holdings Corp. 6,460 8,072 
Globe Telecom, Inc. 2,120 63,214 
GT Capital Holdings, Inc. 3,995 81,094 
International Container Terminal Services, Inc. 11,690 19,096 
JG Summit Holdings, Inc. 102,570 126,544 
Jollibee Food Corp. 19,010 104,631 
Manila Electric Co. 9,210 57,262 
Manila Water Co., Inc. 38,600 20,643 
Megaworld Corp. 325,000 28,245 
Metro Pacific Investments Corp. 571,600 56,304 
Metropolitan Bank & Trust Co. 34,341 56,332 
Philippine Long Distance Telephone Co. 4,880 136,782 
Robinsons Land Corp. 137,056 47,340 
Security Bank Corp. 13,030 52,550 
SM Investments Corp. 11,170 202,296 
SM Prime Holdings, Inc. 323,500 213,515 
Universal Robina Corp. 36,170 98,313 
Vista Land & Lifescapes, Inc. 61,300 7,698 
TOTAL PHILIPPINES  2,449,908 
Poland - 0.3%   
Alior Bank SA (a) 4,920 99,596 
Asseco Poland SA 2,194 27,504 
Bank Handlowy w Warszawie SA 3,034 71,747 
Bank Millennium SA (a) 36,074 87,876 
Bank Polska Kasa Opieki SA 6,696 223,019 
Bank Zachodni WBK SA 1,354 143,276 
BRE Bank SA 902 110,352 
Budimex SA 198 10,594 
CD Projekt RED SA 2,757 98,031 
Ciech SA 399 6,468 
Cyfrowy Polsat SA 9,329 68,203 
Dino Polska SA (a)(c) 2,916 78,926 
ENEA SA 5,656 16,808 
Energa SA 3,153 9,262 
Eurocash SA 2,146 14,986 
Globe Trade Centre SA 954 2,514 
Grupa Lotos SA 4,667 73,558 
Jastrzebska Spolka Weglowa SA (a) 2,542 59,982 
KGHM Polska Miedz SA (Bearer) 5,347 142,654 
Kruk SA 919 60,222 
LPP SA 48 125,407 
Netia Holdings SA 7,446 10,989 
NG2 SA 1,220 90,027 
PKP Cargo SA (a) 727 8,513 
Polish Oil & Gas Co. SA 65,424 115,196 
Polska Grupa Energetyczna SA (a) 36,500 108,881 
Polski Koncern Naftowy Orlen SA 12,577 321,426 
Powszechna Kasa Oszczednosci Bank SA (a) 38,187 455,217 
Powszechny Zaklad Ubezpieczen SA 24,165 295,500 
Tauron Polska Energia SA (a) 27,541 18,440 
Telekomunikacja Polska SA (a) 39,036 58,612 
Warsaw Stock Exchange 1,335 15,005 
Zaklady Azotowe w Tarnowie-Moscicach SA 855 13,033 
TOTAL POLAND  3,041,824 
Portugal - 0.1%   
Banco Comercial Portugues SA (Reg.) (a) 454,177 152,528 
CTT Correios de Portugal SA 8,784 32,438 
Energias de Portugal SA 96,996 360,299 
Galp Energia SGPS SA Class B 20,705 397,928 
Jeronimo Martins SGPS SA 11,220 197,006 
NOS SGPS SA 7,541 44,859 
Portucel Industrial Empresa Produtora de Celulosa SA 20,223 118,199 
REN - Redes Energeticas Nacionais SGPS SA 21,868 68,977 
Sonae SGPS SA 33,655 45,844 
TOTAL PORTUGAL  1,418,078 
Qatar - 0.1%   
Barwa Real Estate Co. 3,257 31,622 
Doha Bank 7,237 53,845 
Ezdan Holding Group (a) 29,195 89,886 
Gulf International Services QSC 100 513 
Gulf Warehousing Co. (a) 1,657 19,460 
Industries Qatar QSC (a) 7,318 225,107 
Masraf al Rayan 19,803 193,516 
Medicare Group 250 4,569 
Qatar Electricity & Water Co. 1,723 93,698 
Qatar First Bank (a) 1,004 1,641 
Qatar Gas Transport Co. Ltd. (Nakilat) 8,384 33,826 
Qatar Insurance Co. SAQ 6,460 64,724 
Qatar Islamic Bank 1,600 47,024 
Qatar National Bank SAQ 9,199 381,502 
Qatar National Cement Co. QSC 53 802 
Qatar Telecom (Qtel) Q.S.C. (a) 3,140 68,302 
The Commercial Bank of Qatar 14,858 147,519 
United Development Co. 3,348 13,425 
Vodafone Qatar QSC (a) 8,279 21,374 
TOTAL QATAR  1,492,355 
Russia - 0.7%   
Aeroflot - Russian Airlines 25,479 58,263 
Alrosa Co. Ltd. 99,293 141,294 
DIXY Group OJSC (a) 6,420 32,828 
Gazprom OAO 442,571 1,025,597 
Inter Rao Ues JSC 1,220,773 77,543 
LSR Group OJSC GDR (Reg. S) 12,843 34,227 
Lukoil PJSC 17,585 1,161,710 
Magnit OJSC GDR (Reg. S) 14,236 270,342 
Magnitogorsk Iron & Steel Works PJSC 109,800 84,879 
Mechel Steel Group OAO sponsored ADR (a) 320 1,174 
MMC Norilsk Nickel PJSC 2,641 451,112 
Mobile TeleSystems OJSC sponsored ADR 22,785 239,243 
Moscow Exchange MICEX-RTS OAO 67,894 130,187 
Mosenergo PJSC 337,078 13,775 
NOVATEK OAO GDR (Reg. S) 3,664 465,328 
Novolipetsk Steel OJSC 54,431 139,300 
PhosAgro OJSC GDR (Reg. S) 5,232 75,445 
Polyus PJSC 1,172 74,352 
Rosneft Oil Co. OJSC 47,416 288,385 
RusHydro PJSC 6,371,585 75,379 
Sberbank of Russia 454,523 1,620,145 
Severstal PAO 7,803 125,386 
Sistema JSFC sponsored GDR 4,633 16,846 
Surgutneftegas OJSC 280,486 131,129 
Tatneft PAO 63,617 677,918 
TMK OAO GDR (Reg. S) 2,884 14,449 
VTB Bank OJSC (a) 240,647,980 206,245 
TOTAL RUSSIA  7,632,481 
Singapore - 1.0%   
Accordia Golf Trust 13,000 6,023 
Ascendas Hospitality Trust unit 11,400 6,987 
Ascendas Real Estate Investment Trust 105,400 211,442 
Ascott Residence Trust 83,171 71,436 
Asian Pay Television Trust 50,400 18,600 
Cache Logistics Trust 48,292 30,385 
CapitaCommercial Trust (REIT) 127,089 173,629 
CapitaLand Ltd. 93,300 263,092 
CapitaMall Trust 142,900 225,663 
CapitaRetail China Trust 58,301 68,860 
CDL Hospitality Trusts unit 39,800 53,253 
City Developments Ltd. 16,500 156,798 
ComfortDelgro Corp. Ltd. 94,700 159,834 
DBS Group Holdings Ltd. 73,966 1,706,550 
ESR (REIT) 19,526 7,783 
Ezion Holdings Ltd. (a) 51,300 4,598 
Ezion Holdings Ltd. warrants 4/17/23 (a) 30,780 
Far East Hospitality Trust unit 12,777 6,488 
First (REIT) 8,466 8,737 
First Resources Ltd. 20,200 25,686 
Frasers Centrepoint Trust 9,100 15,344 
Frasers Commercial Trust 3,257 3,431 
Frasers Logistics & Industrial Trust 126,200 99,667 
Hutchison Port Holdings Trust 228,600 76,216 
Jardine Cycle & Carriage Ltd. 5,500 141,509 
K-REIT Asia 117,988 110,151 
Keppel Corp. Ltd. 59,100 362,470 
Keppel DC (REIT) 6,900 7,412 
Keppel Infrastructure Trust 222,400 90,340 
Lippo Malls Indonesia Retail Trust 147,100 36,000 
Macquarie MEAG Prime (REIT) 8,200 4,446 
Manulife U.S. REIT 60,100 57,078 
Mapletree Commercial Trust 93,023 113,390 
Mapletree Greater China Commercial Trust 110,900 99,213 
Mapletree Industrial (REIT) 77,300 117,979 
Mapletree Logistics Trust (REIT) 69,454 66,351 
MobileOne Ltd. 2,400 3,269 
NetLink NBN Trust (a) 175,969 107,385 
OUE Hospitality Trust 14,400 9,104 
Oue Ltd. 6,100 8,300 
Oversea-Chinese Banking Corp. Ltd. 131,200 1,355,111 
Parkway Life REIT 1,400 2,939 
Raffles Medical Group Ltd. 65,178 56,345 
Rht Health Trust 35,300 21,169 
Sembcorp Industries Ltd. 47,900 110,334 
Sembcorp Marine Ltd. 26,000 41,570 
Sheng Siong Group Ltd. 9,400 7,217 
SIIC Environment Holdings Ltd. 4,900 1,605 
Singapore Airlines Ltd. 23,800 194,193 
Singapore Airport Terminal Service Ltd. 27,800 115,520 
Singapore Exchange Ltd. 38,100 220,943 
Singapore Post Ltd. 76,300 76,828 
Singapore Press Holdings Ltd. 72,600 148,353 
Singapore Technologies Engineering Ltd. 53,500 140,001 
Singapore Telecommunications Ltd. 322,700 853,572 
SPH REIT 3,000 2,239 
StarHub Ltd. 59,300 101,161 
Suntec (REIT) 118,400 174,037 
United Engineers Ltd. 15,800 32,392 
United Overseas Bank Ltd. 56,514 1,279,716 
UOL Group Ltd. 23,531 155,413 
Venture Corp. Ltd. 11,600 181,436 
Wilmar International Ltd. 73,500 179,812 
Wing Tai Holdings Ltd. 6,800 10,419 
Yangzijiang Shipbuilding Holdings Ltd. 108,000 94,310 
Yanlord Land Group Ltd. 17,000 21,678 
Yoma Strategic Holdings Ltd. 99,600 32,085 
TOTAL SINGAPORE  10,345,297 
South Africa - 1.6%   
Advtech Ltd. 4,172 5,458 
Aeci Ltd. 3,629 33,996 
African Rainbow Minerals Ltd. 3,001 24,535 
Alexander Forbes Group Holdings Ltd. 5,905 3,028 
Anglo American Platinum Ltd. 2,406 64,565 
AngloGold Ashanti Ltd. 17,610 157,410 
Arrowhead Properties Ltd. A linked 62,596 35,062 
Ascendis Health Ltd. 1,377 1,076 
Aspen Pharmacare Holdings Ltd. 16,023 345,483 
Assore Ltd. 1,824 45,027 
Astral Foods Ltd. 2,806 68,556 
Attacq Ltd. (a) 33,527 51,709 
AVI Ltd. 12,579 115,058 
Barclays Africa Group Ltd. 28,937 423,848 
Barloworld Ltd. 8,163 110,248 
Bidcorp Ltd. 13,630 313,330 
Bidvest Group Ltd. 13,170 257,989 
Blue Label Telecoms Ltd. 2,242 2,225 
Capitec Bank Holdings Ltd. 1,665 118,538 
Cashbuild Ltd. 1,224 42,571 
City Lodge Hotels Ltd. 140 1,831 
Clicks Group Ltd. 10,800 184,647 
Coronation Fund Managers Ltd. 6,216 36,913 
Curro Holdings Ltd. (a) 7,456 20,063 
DataTec Ltd. 7,047 11,992 
Delta Property Fund Ltd. 4,207 2,206 
Dis-Chem Pharmacies Pty Ltd. (c) 10,513 31,393 
Discovery Ltd. 17,282 239,958 
Emira Property Fund Ltd. 40,873 52,809 
EOH Holdings Ltd. 4,397 13,365 
Exxaro Resources Ltd. 10,347 91,778 
Famous Brands Ltd. (a) 6,133 54,583 
FirstRand Ltd. 140,669 753,357 
Fortress (REIT) Ltd.:   
Class A 46,682 64,245 
Class B 28,294 39,431 
Foschini Ltd. 8,983 154,557 
Gold Fields Ltd. 34,811 132,162 
Grindrod Ltd. (a) 13,572 15,516 
Growthpoint Properties Ltd. 114,102 263,978 
Harmony Gold Mining Co. Ltd. 22,436 45,781 
Hosken Consolidated Investment Ltd. 537 6,272 
Hyprop Investments Ltd. 12,075 110,240 
Impala Platinum Holdings Ltd. (a) 28,822 51,335 
Imperial Holdings Ltd. 5,345 102,817 
Investec Ltd. 12,903 101,783 
Invicta Holdings Ltd. 553 1,967 
JSE Ltd. 2,784 43,275 
KAP Industrial Holdings Ltd. 58,972 41,687 
Kumba Iron Ore Ltd. 2,369 50,608 
Liberty Holdings Ltd. 7,641 80,509 
Life Healthcare Group Holdings Ltd. 52,863 124,613 
Massmart Holdings Ltd. 5,344 71,363 
MMI Holdings Ltd. 31,057 55,287 
Mondi Ltd. 4,488 130,937 
Mpact Ltd. 4,274 9,782 
Mr Price Group Ltd. 10,394 228,084 
MTN Group Ltd. 72,552 728,183 
Murray & Roberts Holdings Ltd. 6,685 8,275 
Nampak Ltd. (a) 20,838 23,187 
Naspers Ltd. Class N 18,405 4,483,818 
Nedbank Group Ltd. 8,297 197,867 
Netcare Ltd. 48,796 121,506 
Northam Platinum Ltd. (a) 19,456 59,722 
Oceana Group Ltd. 307 2,014 
Omnia Holdings Ltd. 834 9,593 
Peregrine Holdings Ltd. 1,032 1,768 
Pick 'n Pay Stores Ltd. 27,812 180,047 
Pioneer Foods Ltd. 4,559 44,338 
Pretoria Portland Cement Co. Ltd. (a) 41,790 29,199 
PSG Group Ltd. 5,285 95,090 
Rand Merchant Insurance Holdings Ltd. 25,434 84,231 
Rebosis Property Fund Ltd. 1,887 1,226 
Redefine Properties Ltd. 178,029 171,088 
Remgro Ltd. 21,738 391,363 
Resilient Property Income Fund Ltd. 13,266 72,181 
Reunert Ltd. 18,692 116,451 
RMB Holdings Ltd. 40,763 255,677 
SA Corporate Real Estate Fund 131,416 50,317 
Sanlam Ltd. 60,493 382,135 
Sappi Ltd. 22,506 143,626 
Sasol Ltd. 23,272 831,913 
Shoprite Holdings Ltd. 17,784 353,827 
Sibanye-Stillwater 77,195 67,666 
Spar Group Ltd. 9,108 153,113 
Stadio Holdings Ltd. (a) 11,721 4,477 
Standard Bank Group Ltd. 54,508 934,845 
Sun International Ltd. (a) 949 4,271 
Super Group Ltd. (a) 9,267 27,625 
Telkom SA Ltd. 7,350 33,566 
Tiger Brands Ltd. 7,014 219,211 
Tongaat Hulett Ltd. 14,194 102,892 
Trencor Ltd. 11,924 32,829 
Truworths International Ltd. 18,379 150,259 
Tsogo Sun Holdings Ltd. 16,839 30,781 
Vodacom Group Ltd. 24,328 304,146 
Vukile Property Fund Ltd. 7,975 14,350 
Wilson Bayly Holmes-Ovcon Ltd. 1,650 20,975 
Woolworths Holdings Ltd. 44,529 228,841 
Zeder Investments Ltd. 90,708 44,711 
TOTAL SOUTH AFRICA  16,854,036 
Spain - 2.2%   
Abertis Infraestructuras SA 27,597 608,535 
Acerinox SA 7,510 105,609 
ACS Actividades de Construccion y Servicios SA 10,331 435,398 
Aena Sme SA (c) 2,627 542,792 
Almirall SA 4,435 55,324 
Amadeus IT Holding SA Class A 17,932 1,314,439 
Applus Services SA 7,934 107,404 
Atresmedia Corporacion de Medios de Comunicacion SA 11,381 106,926 
Azucarera Ebro Agricolas SA 2,057 49,681 
Banco Bilbao Vizcaya Argentaria SA 274,426 2,220,671 
Banco de Sabadell SA 222,010 436,063 
Banco Santander SA (Spain) 670,762 4,352,196 
Bankia SA 54,157 238,514 
Bankinter SA 27,479 288,034 
Bolsas Y Mercados Espanoles 3,583 125,824 
CaixaBank SA 149,121 725,157 
Catalana Occidente SA 2,492 109,991 
Cellnex Telecom Sau (c) 7,318 196,540 
Cemex Latam Holdings SA (a) 1,110 3,422 
Cie Automotive SA 1,466 54,951 
Codere SA (a) 1,150 13,887 
Compania de Distribucion Integral Logista Holdings SA 4,137 93,372 
Construcciones y Auxiliar de Ferrocarriles 610 29,318 
Corporacion Financiera Alba SA 282 17,572 
Distribuidora Internacional de Alimentacion SA 26,787 124,540 
Enagas SA 10,080 293,847 
Ence Energia y Celulosa SA 6,455 50,044 
Endesa SA 11,687 273,373 
Euskaltel, S.A. (c) 1,664 15,473 
Faes Farma SA 21,179 86,190 
Ferrovial SA 19,983 427,972 
Fomento Construcciones y Contratas SA (FOCSA) (a) 2,569 33,195 
Gamesa Corporacion Tecnologica SA 10,192 175,572 
Gas Natural SDG SA 14,297 361,012 
Gestamp Automocion SA (c) 10,749 87,618 
Grifols SA 14,227 401,165 
Grupo Acciona SA 1,825 152,993 
Hispania Activos Inmobiliarios SA 7,346 156,130 
Iberdrola SA 237,899 1,843,232 
Inditex SA 45,513 1,416,907 
Indra Sistemas SA (a) 6,580 91,220 
Inmobiliaria Colonial SA 14,600 169,962 
International Consolidated Airlines Group SA 26,182 226,760 
Lar Espana Real Estate Socimi SA 1,518 17,231 
Liberbank SA (a) 155,645 89,317 
MAPFRE SA (Reg.) 53,061 184,797 
Mediaset Espana Comunicacion SA 7,346 70,560 
Melia Hotels International SA 4,299 64,063 
Merlin Properties Socimi SA 15,848 244,967 
Miquel y Costas & Miquel SA 527 21,320 
Neinor Homes SLU (a)(c) 7,345 142,449 
New Hampshire Hotel Group S.A 7,087 54,773 
Obrascon Huarte Lain SA (a) 1,909 8,961 
Pharma Mar SA (a) 6,023 11,797 
Prosegur Compania de Seguridad SA (Reg.) 9,371 71,067 
Red Electrica Corporacion SA 17,945 373,802 
Repsol SA 50,052 958,018 
Sacyr SA 14,999 43,217 
Saeta Yield SA 797 11,857 
Talgo SA 5,549 34,041 
Tecnicas Reunidas SA 1,293 41,768 
Telefonica SA 193,969 1,976,639 
Telepizza Group SAU (a)(c) 3,895 26,105 
Tubacex SA (a) 2,062 8,802 
Unicaja Banco SA 80,271 145,500 
Viscofan Envolturas Celulosicas SA 1,627 108,062 
Zardoya Otis SA 7,226 73,910 
TOTAL SPAIN  23,401,848 
Sweden - 2.0%   
AarhusKarlshamn AB 1,311 116,029 
AF AB (B Shares) 1,812 37,806 
Ahlsell AB 19,741 118,131 
Alfa Laval AB 13,812 343,382 
Alimak Group AB (c) 1,237 18,336 
Arjo AB 13,218 39,020 
ASSA ABLOY AB (B Shares) 40,277 847,244 
Atlas Copco AB:   
(A Shares) 19,574 769,177 
(B Shares) 23,572 840,679 
Attendo AB (c) 7,307 74,308 
Avanza Bank Holding AB 1,142 53,835 
Axfood AB 4,976 92,597 
Bergman & Beving AB (B Shares) 315 3,281 
Betsson AB (B Shares) 5,780 41,241 
Bilia AB (A Shares) 6,304 52,157 
Billerud AB 8,713 128,456 
BioGaia AB 893 42,933 
Boliden AB 10,822 376,690 
Bonava AB 8,886 108,073 
Bravida AB (c) 13,091 93,885 
Bure Equity AB 2,033 21,893 
BYGGmax Group AB 2,346 12,471 
Capio AB (c) 4,409 19,939 
Castellum AB 8,412 136,411 
Cherry AB (a) 2,000 16,262 
Clas Ohlson AB (B Shares) 2,193 24,042 
Cloetta AB 13,927 49,972 
Com Hem Holding AB 9,233 160,479 
D. Carnegie & Co. AB (a) 1,489 23,194 
Dios Fastigheter AB 5,457 34,711 
Dometic Group AB (c) 12,017 115,481 
Dustin Group AB (c) 1,681 14,110 
Electrolux AB (B Shares) 10,080 266,255 
Elekta AB (B Shares) 15,304 173,826 
Eltel AB (a)(c) 3,974 11,491 
Essity AB Class B 24,771 630,827 
Evolution Gaming Group AB 879 55,410 
Fabege AB 13,228 153,026 
Fastighets AB Balder (a) 2,939 75,987 
Fingerprint Cards AB 6,155 5,331 
Getinge AB (B Shares) 10,057 93,786 
Granges AB 3,812 53,545 
H&M Hennes & Mauritz AB (B Shares) (b) 39,813 684,162 
Haldex AB 927 9,962 
Hansa Medical AB (a) 1,570 47,046 
Hemfosa Fastigheter AB 4,338 53,899 
Hexagon AB (B Shares) 10,600 614,938 
HEXPOL AB (B Shares) 14,880 154,634 
Hoist Finance AB (c) 6,041 53,603 
Holmen AB (B Shares) 4,648 114,971 
Hufvudstaden AB Series A 5,839 86,018 
Husqvarna AB (B Shares) 18,366 177,103 
ICA Gruppen AB 2,544 79,167 
Industrivarden AB (C Shares) 4,359 92,166 
Indutrade AB 4,016 95,118 
Intrum Justitia AB (b) 3,276 87,244 
Investment AB Oresund 100 1,496 
Investor AB (B Shares) 17,275 755,774 
Inwido AB 1,240 10,819 
ITAB Shop Concept AB 678 3,058 
JM AB (B Shares) 2,643 52,488 
Kinnevik AB (B Shares) 9,187 332,684 
Klovern AB (B Shares) 27,231 34,114 
Kungsleden AB 13,492 95,990 
LeoVegas AB (c) 1,894 18,558 
Lindab International AB 3,236 25,018 
Loomis AB (B Shares) 3,056 111,747 
Lundbergfoeretagen AB 2,827 192,090 
Lundin Petroleum AB 8,890 245,888 
Mekonomen AB 2,083 31,923 
Modern Times Group MTG AB (B Shares) 1,979 78,015 
MQ Holding AB 10 17 
Mycronic AB 3,498 40,346 
NCC AB Series B 2,472 45,634 
Net Entertainment NE AB 4,722 27,124 
New Wave Group AB (B Shares) 582 3,463 
Nibe Industrier AB (B Shares) 11,210 114,703 
Nobia AB 5,154 40,671 
Nobina AB (c) 3,257 21,461 
Nolato AB Series B 1,115 84,039 
Nordea Bank AB 125,990 1,285,993 
Nordnet AB Class B (d) 492 
Pandox AB 3,228 54,558 
Peab AB 11,839 105,321 
Probi AB 251 14,017 
Ratos AB (B Shares) 20,802 82,622 
RaySearch Laboratories AB (a) 398 5,950 
Recipharm AB 2,999 40,824 
Resurs Holding AB 3,822 24,682 
Rezidor Hotel Group AB 372 1,071 
Saab AB (B Shares) 2,679 109,985 
Sandvik AB 45,034 771,425 
Scandic Hotels Group AB 5,491 54,116 
Securitas AB (B Shares) 11,366 184,314 
Skandinaviska Enskilda Banken AB (A Shares) 62,988 593,436 
Skanska AB (B Shares) 13,776 269,490 
SKF AB (B Shares) 16,940 344,443 
SkiStar AB 779 16,102 
SSAB Svenskt Stal AB:   
(A Shares) 14,179 80,557 
(B Shares) 17,052 77,562 
Starbreeze AB (a) 12,908 16,215 
Svenska Cellulosa AB (SCA) (B Shares) 23,623 262,542 
Svenska Handelsbanken AB (A Shares) 62,820 700,585 
Sweco AB (B Shares) 4,709 96,152 
Swedbank AB (A Shares) 36,907 804,805 
Swedish Match Co. AB 8,089 363,960 
Swedish Orphan Biovitrum AB (a) 10,071 217,196 
Tele2 AB (B Shares) 17,743 230,990 
Telefonaktiebolaget LM Ericsson (B Shares) 131,135 999,704 
TeliaSonera AB 115,332 568,715 
Thule Group AB (c) 3,231 74,976 
Tobii AB (a) 2,177 9,025 
Trelleborg AB (B Shares) 10,627 249,150 
Vitrolife AB 402 29,519 
Volvo AB (B Shares) 62,684 1,068,040 
Wallenstam AB (B Shares) 14,857 133,442 
Wihlborgs Fastigheter AB 3,588 83,424 
TOTAL SWEDEN  21,087,768 
Switzerland - 4.9%   
ABB Ltd. (Reg.) 75,876 1,769,093 
Adecco SA (Reg.) 6,816 453,529 
AFG Arbonia-Forster-Holding AG (a) 6,300 112,523 
Allreal Holding AG 370 60,895 
ALSO Holding AG 335 41,512 
APG SGA SA 197 81,106 
Aryzta AG 4,359 92,458 
Ascom Holding AG (Reg.) 772 15,533 
Autoneum Holding AG 113 29,715 
Bachem Holding AG (B Shares) 167 21,469 
Baloise Holdings AG 2,357 375,075 
Banque Cantonale Vaudoise 278 222,176 
Barry Callebaut AG 94 169,504 
Basilea Pharmaceutica AG (a) 172 12,045 
Bell AG 3,148 
BKW AG 722 47,138 
Bobst Group SA 285 30,571 
Bossard Holding AG 720 148,069 
Bucher Industries AG 400 147,649 
Burckhardt Compression Holding AG 84 27,378 
Burkhalter Holding AG 381 35,909 
Cembra Money Bank AG 741 63,071 
Clariant AG (Reg.) 10,772 250,115 
Coca-Cola HBC AG 7,383 248,412 
Comet Holding AG 480 63,160 
Compagnie Financiere Richemont SA Series A 21,440 2,038,059 
Credit Suisse Group AG 99,545 1,678,950 
Daetwyler Holdings AG 208 39,879 
Dufry AG 1,309 186,047 
EFG International 3,288 26,875 
Emmi AG 107 86,701 
Ems-Chemie Holding AG 345 214,102 
Flughafen Zuerich AG 1,126 236,335 
Forbo Holding AG (Reg.) 47 66,018 
Galenica AG 2,205 349,885 
Galenica Sante Ltd. (c) 6,291 339,625 
GAM Holding Ltd. 10,183 163,586 
Geberit AG (Reg.) 1,601 685,958 
Georg Fischer AG (Reg.) 228 284,827 
Givaudan SA 392 877,748 
Helvetia Holding AG (Reg.) 364 216,894 
Huber+Suhner AG 427 24,517 
Idorsia Ltd. 5,009 116,152 
Implenia AG 604 46,351 
INFICON Holding AG 64 38,490 
Intershop Holding AG 12 5,994 
Julius Baer Group Ltd. 9,064 537,934 
Kaba Holding AG (B Shares) (Reg.) 130 101,009 
Kardex AG 92 12,978 
Komax Holding AG (Reg.) 49 13,528 
Kudelski SA (Bearer) 453 4,192 
Kuehne & Nagel International AG 1,980 309,687 
Lafargeholcim Ltd. (Reg.) 18,288 1,021,618 
Landis+Gyr Group AG 1,176 88,882 
Leonteq AG (a) 538 30,022 
Lindt & Spruengli AG 304,339 
Lindt & Spruengli AG (participation certificate) 46 296,145 
Logitech International SA (Reg.) 6,493 241,637 
Lonza Group AG 3,020 744,182 
Meyer Burger Technology AG (a) 17,793 22,371 
Mobimo Holding AG 826 213,793 
Nestle SA (Reg. S) 129,381 10,023,158 
Novartis AG 92,893 7,150,375 
OC Oerlikon Corp. AG (Reg.) 9,327 151,811 
Oriflame Holding AG 1,730 82,345 
Orior AG 98 8,109 
Panalpina Welttransport Holding AG 780 99,015 
Pargesa Holding SA 2,018 189,684 
Partners Group Holding AG 656 480,912 
PSP Swiss Property AG 1,895 177,549 
Rieter Holding AG (Reg.) 147 28,569 
Roche Holding AG (participation certificate) 29,355 6,522,313 
Schindler Holding AG:   
(participation certificate) 992 205,807 
(Reg.) 1,387 278,660 
Schmolz & Bickenbach AG (a) 6,294 5,081 
Schweiter Technologies AG 16 18,276 
SFS Group AG 793 89,543 
SGS SA (Reg.) 222 541,447 
Siegfried Holding AG 168 58,571 
Sika AG 87 634,723 
Sonova Holding AG Class B 2,107 349,111 
St.Galler Kantonalbank AG 93 49,925 
Straumann Holding AG 384 262,523 
Sulzer AG (Reg.) 1,185 137,393 
Sunrise Communications Group AG (c) 2,050 161,559 
Swatch Group AG (Bearer) 1,205 581,829 
Swatch Group AG (Bearer) (Reg.) 2,565 229,452 
Swiss Life Holding AG 1,329 467,363 
Swiss Prime Site AG 3,086 289,760 
Swiss Re Ltd. 12,921 1,234,210 
Swisscom AG 1,004 483,257 
Tecan Group AG 429 94,804 
Temenos Group AG 2,546 321,911 
u-blox Holding AG 486 89,059 
UBS Group AG 151,048 2,556,080 
Valiant Holding AG 432 51,962 
Valora Holding AG 87 29,146 
VAT Group AG (c) 1,302 193,658 
Vontobel Holdings AG 523 34,620 
VZ Holding AG 73 20,589 
Ypsomed Holding AG 367 55,957 
Zehnder Group AG 53 2,233 
Zurich Insurance Group AG 6,194 1,978,584 
ZZ Holding AG 40 51,100 
TOTAL SWITZERLAND  52,658,596 
Taiwan - 2.8%   
A-DATA Technology Co. Ltd. 1,000 2,409 
Accton Technology Corp. 30,000 68,444 
Acer, Inc. 121,000 92,116 
Advanced Ceramic X Corp. 1,000 8,466 
Advantech Co. Ltd. 17,499 119,918 
AmTRAN Technology Co. Ltd. 4,000 1,714 
ASE Industrial Holding Co. Ltd. 144,718 389,727 
Asia Cement Corp. 136,000 144,879 
Asia Optical Co., Inc. 6,000 18,433 
Asia Pacific Telecom Co. Ltd. (a) 33,000 9,768 
ASPEED Tech, Inc. 1,000 28,504 
ASUSTeK Computer, Inc. 36,000 335,847 
AU Optronics Corp. 516,000 212,399 
Bank of Kaohsiung Co. Ltd. 14,728 4,642 
Capital Securities Corp. 7,000 2,642 
Catcher Technology Co. Ltd. 31,000 343,187 
Cathay Financial Holding Co. Ltd. 331,000 592,682 
Chang Hwa Commercial Bank 113,652 65,307 
Cheng Loong Corp. 28,000 15,859 
Cheng Shin Rubber Industry Co. Ltd. 133,000 214,079 
Cheng Uei Precision Industries Co. Ltd. 3,000 3,887 
Chicony Electronics Co. Ltd. 12,065 29,672 
Chin-Poon Industrial Co. Ltd. 6,000 7,885 
China Airlines Ltd. (a) 177,000 64,451 
China Bills Finance Corp. 4,000 1,948 
China Development Finance Holding Corp. 1,080,000 407,623 
China Life Insurance Co. Ltd. 87,330 94,450 
China Motor Co. Ltd. 3,000 2,817 
China Petrochemical Development Corp. (a) 207,000 90,491 
China Steel Chemical Corp. 1,000 5,263 
China Steel Corp. 509,000 402,062 
China Synthetic Rubber Corp. 16,100 22,952 
Chinatrust Financial Holding Co. Ltd. 706,960 503,285 
Chipbond Technology Corp. 38,000 75,167 
Chroma ATE, Inc. 17,000 85,329 
Chunghwa Telecom Co. Ltd. 158,000 600,136 
Clevo Co. Ltd. 2,000 1,970 
Compal Electronics, Inc. 188,000 122,237 
Compeq Manufacturing Co. Ltd. 40,000 39,783 
Coretronic Corp. 14,000 18,602 
CTCI Corp. 10,000 16,816 
Cub Elecparts, Inc. 2,200 28,105 
Delta Electronics, Inc. 99,000 358,290 
E Ink Holdings, Inc. 22,000 24,300 
E.SUN Financial Holdings Co. Ltd. 374,387 264,280 
ECLAT Textile Co. Ltd. 9,060 109,110 
EGiS Technology, Inc. (a) 1,000 4,774 
Elan Microelectronics Corp. 3,000 4,334 
Elite Advanced Laser Corp. 1,200 4,197 
Elite Material Co. Ltd. 8,000 19,570 
eMemory Technology, Inc. 6,000 73,898 
Ennoconn Corp. 1,000 16,153 
EPISTAR Corp. (a) 30,000 40,757 
Eternal Materials Co. Ltd. 9,618 9,197 
EVA Airways Corp. 55,774 29,897 
Evergreen Marine Corp. (Taiwan) (a) 93,566 47,243 
Everlight Electronics Co. Ltd. 11,000 15,389 
Far Eastern Department Stores Co. Ltd. 5,000 3,277 
Far Eastern International Bank 52,254 17,501 
Far Eastern Textile Ltd. 159,000 151,487 
Far EasTone Telecommunications Co. Ltd. 56,000 147,898 
Farglory Land Development Co. Ltd. 10,000 10,938 
Feng Hsin Iron & Steel Co. 17,000 34,176 
Feng Tay Enterprise Co. Ltd. 9,120 41,282 
Firich Enterprise Co. Ltd. 1,030 1,461 
First Financial Holding Co. Ltd. 350,595 240,610 
FLEXium Interconnect, Inc. 20,940 54,623 
Formosa Chemicals & Fibre Corp. 137,000 502,467 
Formosa Petrochemical Corp. 61,000 248,460 
Formosa Plastics Corp. 173,000 606,023 
Formosa Taffeta Co. Ltd. 92,000 103,837 
Foxconn Technology Co. Ltd. 39,010 96,686 
Fubon Financial Holding Co. Ltd. 269,000 459,405 
Genius Electronic Optical Co. Ltd. (a) 3,000 35,239 
Getac Technology Corp. 2,000 2,871 
Giant Manufacturing Co. Ltd. 10,000 50,697 
Giga-Byte Technology Co. Ltd. 36,000 78,578 
Global Unichip Corp. 3,000 28,176 
GlobalWafers Co. Ltd. 9,000 144,936 
Grand Pacific Petrochemical Corp. 41,000 45,283 
Grape King Bio Ltd. 7,000 58,479 
Great Wall Enterprise Co. Ltd. 2,000 2,582 
Greatek Electronics, Inc. 9,000 16,259 
HannStar Display Corp. 76,000 20,806 
Highwealth Construction Corp. 11,000 16,905 
HIWIN Technologies Corp. 11,080 166,613 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 659,000 1,829,684 
Hota Industrial Manufacturing Co. Ltd. 27,063 118,752 
Hotai Motor Co. Ltd. 21,000 205,474 
HTC Corp. (a) 17,000 34,405 
Hua Nan Financial Holdings Co. Ltd. 591,870 357,289 
Huaku Development Co. Ltd. 1,000 2,305 
Innolux Corp. 429,000 159,359 
International Games Systems Co. Ltd. 1,000 5,373 
Inventec Corp. 123,000 93,025 
Kenda Rubber Industrial Co. Ltd. 3,060 3,529 
King Slide Works Co. Ltd. 1,000 14,106 
King Yuan Electronics Co. Ltd. 167,000 164,439 
King's Town Bank 128,000 153,048 
Kinpo Electronics, Inc. 6,000 2,118 
Kinsus Interconnect Technology Corp. 2,000 3,280 
LandMark Optoelectronics Corp. 4,000 37,241 
Largan Precision Co. Ltd. 4,000 464,409 
Lee Chang Yung Chemical Industry Corp. 5,000 7,397 
Lien Hwa Industrial Corp. 55,152 70,284 
Lite-On Technology Corp. 123,009 162,037 
Long Chen Paper Co. Ltd. 48,138 56,068 
Macronix International Co. Ltd. (a) 69,000 109,419 
Makalot Industrial Co. Ltd. 7,000 33,640 
MediaTek, Inc. 65,000 737,975 
Mega Financial Holding Co. Ltd. 385,000 339,279 
Mercuries Life Insurance Co. Ltd. 120,541 65,619 
Merida Industry Co. Ltd. 4,000 17,777 
Merry Electronics Co. Ltd. 5,000 22,984 
Micro-Star International Co. Ltd. 21,000 65,470 
MiTAC Holdings Corp. 5,000 5,400 
Namchow Chemical Industrial Co. Ltd. 1,000 2,031 
Nan Ya Plastics Corp. 205,000 560,498 
Nankang Rubber Tire Co. Ltd. 2,000 1,683 
Nanya Technology Corp. 37,000 114,973 
Neo Solar Power Corp. (a) 6,000 2,483 
Nien Made Enterprise Co. Ltd. 5,000 44,334 
Novatek Microelectronics Corp. 27,000 113,133 
OBI Pharma, Inc. (a) 6,000 33,998 
Oriental Union Chemical Corp. 4,000 4,282 
PChome Online, Inc. 6,062 28,031 
Pegatron Corp. 91,000 211,788 
PharmaEngine, Inc. 1,199 5,650 
PharmaEssentia Corp. (a) 19,000 115,934 
Phison Electronics Corp. 6,000 54,221 
Pou Chen Corp. 84,000 104,862 
Powertech Technology, Inc. 22,000 62,866 
Poya International Co. Ltd. 1,010 11,193 
President Chain Store Corp. 25,000 245,301 
Primax Electronics Ltd. 15,000 30,288 
Prince Housing & Development Corp. 6,000 2,382 
Qisda Corp. 25,000 17,105 
Quanta Computer, Inc. 114,000 206,899 
Radiant Opto-Electronics Corp. 32,000 65,936 
Realtek Semiconductor Corp. 15,000 56,625 
Ruentex Development Co. Ltd. 8,400 10,041 
Ruentex Industries Ltd. 15,000 29,013 
SerComm Corp. 1,000 2,691 
Shin Kong Financial Holding Co. Ltd. 346,000 140,373 
Shin Zu Shing Co. Ltd. 1,000 2,624 
Shinkong Insurance Co. Ltd. 2,000 2,166 
Simplo Technology Co. Ltd. 3,600 20,092 
SINBON Electronics Co. Ltd. 1,000 2,641 
Sino-American Silicon Products, Inc. 29,000 124,245 
Sinopac Holdings Co. 504,407 181,197 
St.Shine Optical Co. Ltd. 3,000 80,289 
Standard Foods Corp. 41,714 93,386 
Synnex Technology International Corp. 173,100 248,166 
Systex Corp. 1,000 2,160 
Ta Chen Stainless Pipe Co. Ltd. 31,443 35,735 
Taichung Commercial Bank Co. Ltd. 123,126 42,491 
TaiMed Biologics, Inc. (a) 7,000 72,630 
Tainan Spinning Co. Ltd. 5,000 2,210 
Taishin Financial Holdings Co. Ltd. 419,132 203,304 
Taiwan Business Bank 46,762 14,345 
Taiwan Cement Corp. 192,480 264,042 
Taiwan Cooperative Financial Holding Co. Ltd. 570,710 331,031 
Taiwan Fertilizer Co. Ltd. 11,000 14,818 
Taiwan Glass Industry Corp. (a) 24,000 16,009 
Taiwan High Speed Rail Corp. 48,000 36,803 
Taiwan Hon Chuan Enterprise Co. Ltd. 2,000 3,473 
Taiwan Mobile Co. Ltd. 80,000 294,909 
Taiwan Paiho Ltd. 17,000 45,408 
Taiwan Secom Co. 33,000 99,007 
Taiwan Semiconductor Manufacturing Co. Ltd. 1,032,000 7,847,173 
Taiwan Shin Kong Security Co. Ltd. 2,000 2,609 
Taiwan Surface Mounting Technology Co. Ltd. (a) 3,000 2,561 
Tatung Co. Ltd. (a) 104,000 77,205 
TCI Co. Ltd. 3,000 43,937 
TECO Electric & Machinery Co. Ltd. 75,000 60,767 
Ton Yi Industrial Corp. 5,000 2,121 
Tong Hsing Electronics Industries Ltd. 6,000 21,032 
Tong Yang Industry Co. Ltd. 5,000 8,989 
Topco Scientific Co. Ltd. 4,304 11,580 
Transcend Information, Inc. 1,000 2,815 
Tripod Technology Corp. 15,000 45,293 
TSRC Corp. 6,000 6,029 
TTY Biopharm Co. Ltd. 1,000 3,376 
Tung Ho Steel Enterprise Corp. 55,000 45,588 
Tung Thih Electronic Co. Ltd. 1,000 3,633 
TXC Corp. 2,000 2,394 
Unified-President Enterprises Corp. 231,000 554,955 
Unimicron Technology Corp. 27,000 15,146 
United Microelectronics Corp. 498,000 268,082 
USI Corp. 5,100 2,478 
Vanguard International Semiconductor Corp. 47,000 95,101 
Visual Photonics Epitaxy Co. Ltd. 14,000 44,623 
Voltronic Power Technology Corp. 1,000 17,765 
Walsin Lihwa Corp. 267,000 181,218 
Walsin Technology Corp. 13,875 87,065 
Waterland Financial Holdings Co. Ltd. 17,253 6,015 
Wei-Chuan Food Corp. (a) 2,000 1,583 
Win Semiconductors Corp. 14,389 107,702 
Winbond Electronics Corp. 146,363 89,423 
Wistron Corp. 195,216 154,961 
Wistron NeWeb Corp. 20,059 46,995 
WPG Holding Co. Ltd. 140,000 188,056 
WT Microelectronics Co. Ltd. 2,235 3,335 
Yageo Corp. 9,289 194,362 
Yieh Phui Enterprise Co. 5,300 1,832 
Yuanta Financial Holding Co. Ltd. 552,000 262,977 
Yuen Foong Yu Paper Manufacturing Co. (a) 105,000 44,705 
Yulon Motor Co. Ltd. 12,000 9,136 
Yungtay Engineering Co. Ltd. 18,000 31,303 
TOTAL TAIWAN  30,153,797 
Thailand - 0.6%   
Advanced Info Service PCL (For. Reg.) 47,100 310,017 
Airports of Thailand PCL (For. Reg.) 168,700 379,469 
Bangkok Airways PCL 65,400 31,299 
Bangkok Bank PCL (For. Reg.) 15,100 96,194 
Bangkok Chain Hospital PCL 97,300 53,519 
Bangkok Dusit Medical Services PCL (For. Reg.) 192,800 137,298 
Bangkok Expressway and Metro PCL 366,500 89,788 
Bangkok Land PCL 1,205,600 70,983 
Banpu PCL (For. Reg.) 150,900 92,107 
Beauty Community PCL 58,800 43,191 
BEC World PCL (For. Reg.) 29,200 9,561 
Berli Jucker PCL (For. Reg) 53,800 101,538 
BTS Group Holdings PCL 366,700 103,335 
Bumrungrad Hospital PCL (For. Reg.) 13,600 81,627 
C.P. ALL PCL (For. Reg.) 204,800 563,302 
Central Pattana PCL (For. Reg.) 57,000 145,411 
CH. Karnchang PCL 2,700 2,044 
Charoen Pokphand Foods PCL (For. Reg.) 153,160 118,173 
Chularat Hospital PCL 25,300 1,564 
Delta Electronics PCL (For. Reg.) 14,400 30,641 
Dynasty Ceramic PCL (For. Reg.) 17,900 1,680 
Electricity Generating PCL (For. Reg.) 9,000 63,436 
Energy Absolute PCL 52,600 59,460 
Energy Earth PCL (d) 7,600 351 
Esso Thailand PCL 74,900 42,401 
Glow Energy PCL (For. Reg.) 28,700 78,154 
Gunkul Engineering PCL 22,283 2,041 
Hana Microelectronics PCL (For. Reg.) 12,900 14,166 
Home Product Center PCL (For. Reg.) 354,800 167,811 
Indorama Ventures PCL (For. Reg.) 61,200 116,122 
IRPC PCL (For. Reg.) 360,500 80,197 
Jasmine International Public Co. Ltd. 265,900 48,976 
Kasikornbank PCL 9,300 58,944 
Kasikornbank PCL (For. Reg.) 70,500 446,834 
KCE Electronics PCL 6,600 14,281 
Kiatnakin Bank PCL (For. Reg.) 34,900 81,313 
Krung Thai Bank PCL (For. Reg.) 212,800 122,202 
Krungthai Card PCL (For. Reg.) 5,700 65,326 
Major Cineplex Group PCL (For. Reg.) 1,400 1,294 
Minor International PCL (For. Reg.) 81,600 103,627 
Muangthai Leasing PCL 52,100 59,939 
PTG Energy PCL 6,300 3,717 
PTT Exploration and Production PCL (For. Reg.) 59,800 253,337 
PTT Global Chemical PCL (For. Reg.) 88,700 274,050 
PTT PCL (For. Reg.) 449,000 798,742 
Robinsons Department Store PCL (For. Reg.) 16,400 34,086 
Siam Cement PCL (For. Reg.) 20,200 298,701 
Siam Commercial Bank PCL (For. Reg.) 72,600 300,623 
Siam Global House PCL 51,598 26,523 
Sino-Thai Engineering & Construction PCL (For. Reg.) 16,300 9,008 
Sri Trang Agro-Industry PCL 17,760 6,603 
Srisawad Corp. PCL 36,800 60,251 
Supalai PCL (For. Reg.) 85,475 62,657 
Superblock Public Co. Ltd. (a) 93,600 3,402 
Thai Airways International PCL (For. Reg.) (a) 60,900 31,121 
Thai Oil PCL (For. Reg.) 50,000 148,800 
Thai Union Frozen Products PCL (For. Reg.) 118,800 67,557 
Thai Vegetable Oil PCL 29,800 33,074 
Thanachart Capital PCL (For. Reg.) 26,800 45,494 
TISCO Financial Group PCL 10,800 30,286 
TMB PCL (For. Reg.) 446,200 33,230 
True Corp. PCL (For. Reg.) 399,500 96,076 
TTW PCL 130,400 51,285 
Vibhavadi Medical Center PCL 93,584 7,388 
WHA Corp. PCL 232,000 28,977 
TOTAL THAILAND  6,794,604 
Turkey - 0.2%   
AG Anadolu Grubu Holding A/S 8,884 47,896 
Akbank T.A.S. 90,481 188,442 
Akcansa Cimento A/S 294 726 
Albaraka Turk Katilim Bankasi A/S 3,589 1,387 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 9,935 65,156 
Anadolu Sigoria 2,500 2,634 
Arcelik A/S 11,166 49,699 
Aselsan A/S 8,078 50,113 
Aygaz A/S 428 1,420 
Bim Birlesik Magazalar A/S JSC 8,021 136,148 
Cimsa Cimento Sanayi Ve Ticaret A/S 254 787 
Coca-Cola Icecek Sanayi A/S 3,284 29,056 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 124,151 74,269 
Eregli Demir ve Celik Fabrikalari T.A.S. 57,872 144,748 
Ford Otomotiv Sanayi A/S 3,281 45,353 
Haci Omer Sabanci Holding A/S 30,143 71,386 
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D (a) 56,075 56,184 
Koc Holding A/S 26,860 90,721 
Petkim Petrokimya Holding A/S 45,995 81,299 
Soda Sanayii AS 46,653 55,472 
TAV Havalimanlari Holding A/S 7,122 38,186 
Tekfen Holding A/S 9,172 34,727 
Tofas Turk Otomobil Fabrikasi A/S 8,164 50,285 
Tupras Turkiye Petrol Rafinerileri A/S 4,942 125,919 
Turk Hava Yollari AO (a) 24,007 98,756 
Turk Sise ve Cam Fabrikalari A/S 66,361 73,678 
Turk Telekomunikasyon (a) 36,680 56,707 
Turkcell Iletisim Hizmet A/S 49,501 170,117 
Turkiye Garanti Bankasi A/S 89,111 202,041 
Turkiye Halk Bankasi A/S 29,067 59,177 
Turkiye Is Bankasi A/S Series C 61,034 92,555 
Turkiye Sinai Kalkinma Bankasi A/S 117,113 40,363 
Turkiye Vakiflar Bankasi TAO 61,575 90,496 
Ulker Biskuvi Sanayi A/S 5,387 28,247 
Yapi ve Kredi Bankasi A/S (a) 23,496 23,021 
TOTAL TURKEY  2,377,171 
United Arab Emirates - 0.1%   
Abu Dhabi Commercial Bank PJSC 88,416 169,218 
Air Arabia PJSC 150,733 50,064 
Aldar Properties PJSC 115,849 66,233 
Arabtec Holding Co. 17,581 9,764 
Damac Properties Dubai Co. PJSC (a) 80,493 60,701 
Dana Gas PJSC 220,857 59,526 
DP World Ltd. 7,021 156,217 
Dubai Investments Ltd. 140,493 72,672 
Dubai Islamic Bank Pakistan Ltd. 50,110 75,032 
Dubai Parks and Resorts PJSC (a) 83,207 8,744 
Emaar Malls Group PJSC (a) 111,607 67,454 
Emaar Properties PJSC 152,278 240,036 
Emirates Telecommunications Corp. 69,363 323,857 
Eshraq Properties Co. PJSC (a) 6,866 1,327 
National Bank of Abu Dhabi PJSC 63,676 214,961 
Waha Capital PJSC 6,006 2,943 
TOTAL UNITED ARAB EMIRATES  1,578,749 
United Kingdom - 11.2%   
3i Group PLC 38,975 505,233 
AA PLC 20,133 37,709 
Abcam PLC 10,446 175,592 
Acacia Mining PLC 2,351 4,661 
Admiral Group PLC 9,978 273,773 
Advanced Medical Solutions Group PLC 6,326 27,477 
Aggreko PLC 11,667 117,638 
Allied Minds PLC (a) 3,073 5,043 
Amerisur Resources PLC (a) 9,213 2,204 
Anglo American PLC (United Kingdom) 55,298 1,301,345 
Antofagasta PLC 17,095 228,851 
AO World PLC (a) 14,204 30,505 
Arrow Global Group PLC 4,919 25,158 
Ascential PLC 11,271 65,388 
Ashmore Group PLC 19,573 110,964 
Ashtead Group PLC 20,268 567,267 
ASOS PLC (a) 2,371 190,823 
Associated British Foods PLC 14,516 540,372 
Assura PLC 59,634 48,930 
AstraZeneca PLC (United Kingdom) 51,798 3,625,983 
Auto Trader Group PLC (c) 48,901 237,616 
Aveva Group PLC 2,982 88,429 
Aviva PLC 158,198 1,149,415 
Babcock International Group PLC 11,094 112,380 
BAE Systems PLC 133,647 1,121,329 
Balfour Beatty PLC 20,627 83,545 
Barclays PLC 699,177 1,993,427 
Barratt Developments PLC 44,762 343,861 
BBA Aviation PLC 39,314 173,087 
Beazley PLC 27,623 224,939 
Bellway PLC 5,243 239,350 
Berkeley Group Holdings PLC 5,561 311,745 
BGEO Group PLC 1,624 77,804 
BHP Billiton PLC 87,236 1,860,083 
Biffa PLC (c) 16,227 46,132 
Big Yellow Group PLC 12,114 153,682 
Blue Prism Group PLC (a) 2,243 43,355 
Bodycote PLC 6,074 75,259 
Bovis Homes Group PLC 8,985 152,827 
BP PLC 799,540 5,938,956 
Brewin Dolphin Holding PLC 17,451 86,730 
British American Tobacco PLC (United Kingdom) 93,412 5,123,416 
British Land Co. PLC 40,090 371,110 
Britvic PLC 9,411 93,090 
BT Group PLC 348,319 1,195,550 
BTG PLC (a) 20,522 193,248 
Bunzl PLC 15,094 438,664 
Burberry Group PLC 17,355 435,682 
Cairn Energy PLC (a) 19,645 61,285 
Capita Group PLC 26,585 70,106 
Capital & Counties Properties PLC 32,797 130,172 
Card Factory PLC 8,017 25,429 
Carnival PLC 7,649 497,149 
Carphone Warehouse Group PLC 54,588 152,557 
Centrica PLC 230,087 487,178 
Chemring Group PLC 30,409 87,496 
Cineworld Group PLC 35,425 126,996 
Civitas Social Housing PLC 12,154 17,234 
Clinigen Group PLC 6,234 75,310 
Close Brothers Group PLC 8,129 171,897 
Cobham PLC (a) 106,354 168,527 
Coca-Cola European Partners PLC 11,069 433,905 
Compass Group PLC 63,427 1,362,191 
ConvaTec Group PLC (c) 52,429 156,773 
Conviviality PLC (d) 5,769 4,019 
Coro Energy PLC (a) 1,621 85 
Costain Group PLC 1,866 11,817 
Countryside Properties PLC (c) 8,773 43,383 
Countrywide PLC (a) 278 413 
Crest Nicholson PLC 7,984 53,529 
Croda International PLC 5,374 330,042 
CVS Group PLC 1,909 25,913 
CYBG PLC 48,341 201,117 
Daily Mail & General Trust PLC Class A 14,123 131,047 
Dairy Crest Group PLC 2,499 18,664 
Dart Group PLC 3,875 45,745 
De La Rue PLC 4,598 33,549 
Debenhams PLC 18,859 5,992 
Dechra Pharmaceuticals PLC 4,831 182,366 
Derwent London PLC 5,464 239,961 
DFS Furniture PLC 13,771 43,131 
Diageo PLC 97,768 3,487,843 
Dialog Semiconductor PLC (a) 3,351 71,768 
Dignity PLC 1,628 24,452 
Diploma PLC 6,915 114,810 
Direct Line Insurance Group PLC 66,382 342,066 
Domino's Pizza UK & IRL PLC 24,401 122,043 
Drax Group PLC 23,908 104,009 
DS Smith PLC 42,990 309,179 
Dunelm Group PLC 2,111 16,391 
easyJet PLC 6,049 132,410 
Electrocomponents PLC 23,365 195,895 
Elementis PLC 15,588 60,861 
EMIS Group PLC 1,676 19,659 
Empiric Student Property PLC 23,726 27,895 
EnQuest PLC (a) 58,344 28,836 
Enterprise Inns PLC (a) 34,056 60,388 
Equiniti Group PLC (c) 12,680 48,093 
Essentra PLC 19,084 115,864 
esure Group PLC 6,609 20,526 
Evraz PLC 17,156 108,221 
Faroe Petroleum PLC (a) 2,833 5,179 
Fenner PLC 6,074 50,841 
Ferrexpo PLC 15,676 50,737 
Fever-Tree Drinks PLC 3,656 142,742 
Firstgroup PLC (a) 54,355 84,484 
Forterra PLC 9,489 41,150 
Fresnillo PLC 8,129 142,688 
G4S PLC (United Kingdom) 69,288 246,962 
Galliford Try PLC 8,705 110,015 
GB Group PLC 4,899 33,385 
Genus PLC 2,800 97,525 
GKN PLC 68,846 437,148 
GlaxoSmithKline PLC 201,922 4,049,983 
Gocompare.com Group PLC 20,148 31,066 
Grainger Trust PLC 16,607 71,652 
Great Portland Estates PLC 9,397 90,222 
Greene King PLC 9,737 73,325 
Greggs PLC 2,983 50,061 
Halfords Group PLC 3,024 15,770 
Halma PLC 15,950 268,551 
Hammerson PLC 32,141 242,924 
Hansteen Holdings PLC 4,785 8,748 
Hargreaves Lansdown PLC 11,386 280,506 
Hastings Group Holdings PLC (c) 28,228 107,258 
Hays PLC 68,438 168,934 
Helical Bar PLC 4,937 25,488 
Hikma Pharmaceuticals PLC 5,320 94,334 
Hill & Smith Holdings PLC 2,058 37,597 
Hochschild Mining PLC 7,631 22,051 
HomeServe PLC 13,003 132,469 
Hostelworld Group PLC (c) 1,535 8,559 
Howden Joinery Group PLC 24,838 163,005 
HSBC Holdings PLC (United Kingdom) 806,652 8,031,014 
Hunting PLC (a) 9,314 102,709 
Hurricane Energy PLC (a) 40,558 23,931 
Ibstock PLC (c) 31,649 129,581 
IG Group Holdings PLC 14,201 162,269 
IMI PLC 12,291 184,778 
Imperial Tobacco Group PLC 39,676 1,422,629 
Inchcape PLC 15,061 150,636 
Indivior PLC (a) 31,065 193,778 
Informa PLC 35,156 357,671 
Inmarsat PLC 20,869 108,055 
InterContinental Hotel Group PLC 7,838 495,179 
Intermediate Capital Group PLC 13,762 205,755 
International Personal Finance PLC 7,621 25,516 
International Quantum Epitaxy PLC (a)(b) 32,218 46,661 
Intertek Group PLC 7,276 490,927 
Intu Properties PLC 32,401 87,116 
Investec PLC 30,172 239,839 
iomart Group PLC 1,226 6,616 
ITE Group PLC 9,928 20,775 
ITV PLC 166,194 346,974 
J Sainsbury PLC 69,600 296,079 
J.D. Weatherspoon PLC 1,928 30,896 
Jackpotjoy PLC (a) 1,132 12,810 
John David Group PLC 19,930 107,281 
John Laing Group PLC (c) 51,300 199,585 
John Menzies PLC 927 8,117 
John Wood Group PLC 25,243 197,600 
Johnson Matthey PLC 7,617 345,420 
JRP Group PLC 41,715 81,090 
Jupiter Fund Management PLC 27,664 173,477 
Just Eat Holding Ltd. (a) 22,275 237,293 
KAZ Minerals PLC (a) 10,534 133,478 
Kcom Group PLC 8,465 11,654 
Keller Group PLC 8,466 120,980 
Keywords Studios PLC 2,469 61,795 
Kier Group PLC 3,223 47,699 
Kingfisher PLC 89,932 375,055 
Laird PLC 30,740 83,328 
Land Securities Group PLC 28,547 388,448 
Legal & General Group PLC 236,874 880,482 
Lloyds Banking Group PLC 2,858,271 2,535,137 
London Stock Exchange Group PLC 12,832 759,630 
Londonmetric Properity PLC 40,117 105,101 
Lonmin PLC (a) 1,093 880 
Lookers PLC 2,630 3,664 
Man Group PLC 77,205 192,594 
Marks & Spencer Group PLC 66,636 263,482 
Marshalls PLC 6,565 38,737 
McCarthy & Stone PLC (c) 17,225 32,108 
Mediclinic International PLC 13,949 128,856 
Meggitt PLC 32,839 213,569 
Melrose Industries PLC 253,151 794,610 
Merlin Entertainments PLC (c) 30,745 155,677 
Metro Bank PLC (a) 3,333 151,514 
Micro Focus International PLC 17,239 297,254 
Mitchells & Butlers PLC 6,311 24,501 
Mitie Group PLC 6,852 17,300 
Mondi PLC 15,717 438,378 
Moneysupermarket.com Group PLC 30,685 126,605 
Morgan Advanced Materials PLC 8,008 37,814 
N Brown Group PLC 3,824 10,771 
National Express Group PLC Class L 22,645 122,270 
National Grid PLC 132,899 1,542,004 
NCC Group Ltd. 7,668 20,754 
NewRiver REIT PLC 15,204 60,701 
NEX Group PLC 16,842 229,081 
Next PLC 6,028 436,182 
NMC Health PLC 3,228 158,561 
Northgate PLC 8,573 43,811 
Nostrum Oil & Gas LP (a) 1,976 8,079 
Ocado Group PLC (a)(b) 20,963 155,381 
Old Mutual PLC 196,202 679,600 
On The Beach Group PLC (c) 3,023 25,470 
OneSavings Bank PLC 9,977 54,529 
Ophir Energy PLC (a) 39,780 32,914 
Oxford Instruments PLC 1,621 20,219 
P2P Global Investments PLC 5,361 58,896 
Pagegroup PLC 14,774 109,324 
Paragon Banking Group PLC 7,344 52,878 
Pearson PLC 30,543 350,165 
Pendragon PLC 85,397 34,094 
Pennon Group PLC 20,124 191,772 
Persimmon PLC 12,671 473,609 
Pets At Home Group PLC 9,173 19,322 
Photo-Me International PLC 11,079 24,373 
Polypipe Group PLC 17,721 93,487 
Premier Foods PLC (a) 23,207 11,965 
Premier Oil PLC (a) 4,370 5,700 
Primary Health Properties PLC 39,684 61,626 
Provident Financial PLC 14,724 134,799 
Prudential PLC 104,541 2,688,173 
Purplebricks Group PLC (a)(b) 10,054 47,891 
PZ Cussons PLC Class L 16,813 56,987 
QinetiQ Group PLC 16,719 53,054 
Rank Group PLC 996 2,400 
Rathbone Brothers PLC 1,656 53,667 
Reckitt Benckiser Group PLC 27,277 2,139,828 
Redde PLC 25,770 61,376 
Redrow PLC 14,846 128,252 
RELX PLC 43,612 933,332 
Renishaw PLC 1,666 108,165 
Rentokil Initial PLC 71,133 300,641 
Restore PLC 3,422 26,712 
Rightmove PLC 4,634 291,230 
Rio Tinto PLC 49,366 2,690,740 
Rolls-Royce Holdings PLC 69,001 797,947 
Rotork PLC 41,450 187,741 
Royal Bank of Scotland Group PLC (a) 139,479 516,519 
Royal Dutch Shell PLC:   
Class A (United Kingdom) 222,500 7,741,046 
Class B (United Kingdom) 146,202 5,219,245 
Royal Mail PLC 34,899 279,240 
RPC Group PLC 15,079 164,164 
RPS Group PLC 29,670 105,589 
RSA Insurance Group PLC 40,231 364,108 
Safestore Holdings PLC 4,786 36,107 
Saga PLC 59,263 110,877 
Sage Group PLC 47,399 414,495 
Savills PLC 10,381 140,414 
Scapa Group PLC 4,991 29,986 
Schroders PLC 4,695 213,364 
Scottish & Southern Energy PLC 41,477 787,176 
Segro PLC 37,752 335,851 
Senior Engineering Group PLC 11,265 45,812 
Serco Group PLC (a) 34,128 45,222 
Severn Trent PLC 8,890 237,434 
Shaftesbury PLC 6,361 88,535 
Shanks Group PLC 22,634 22,311 
SIG PLC 12,607 24,802 
Sirius Minerals PLC (a)(b) 252,896 107,930 
SKY PLC 42,141 799,454 
Smart Metering Systems PLC 2,619 28,664 
Smith & Nephew PLC 34,088 652,821 
Smiths Group PLC 17,389 382,433 
SOCO International PLC 500 721 
Softcat PLC 3,043 28,822 
Sophos Group PLC (c) 12,099 83,117 
Sound Energy PLC (a) 8,859 5,066 
Spectris PLC 6,306 233,532 
Spirax-Sarco Engineering PLC 3,081 244,529 
Spire Healthcare Group PLC (c) 16,378 51,409 
Sports Direct International PLC (a) 6,585 36,516 
SSP Group PLC 18,399 165,202 
St. James's Place Capital PLC 19,627 307,088 
St. Modwen Properties PLC 10,219 57,709 
Stagecoach Group PLC 12,696 27,267 
Standard Chartered PLC (United Kingdom) 136,510 1,441,449 
Standard Life PLC 105,140 528,758 
Stock Spirits Group PLC 10,658 36,609 
SuperGroup PLC 2,109 43,697 
Synthomer PLC 15,742 107,276 
TalkTalk Telecom Group PLC 30,162 53,483 
Tate & Lyle PLC 21,590 170,788 
Taylor Wimpey PLC 143,193 378,004 
Ted Baker PLC 2,919 107,055 
Telecom Plus PLC 3,457 51,495 
Tesco PLC 399,853 1,295,099 
The Go-Ahead Group PLC 2,295 61,326 
The Restaurant Group PLC 3,104 12,965 
The Weir Group PLC 8,684 255,364 
Thomas Cook Group PLC 82,838 140,957 
TORM PLC 167 1,337 
Travis Perkins PLC 12,141 212,107 
Tritax Big Box REIT PLC 65,993 136,097 
Tullett Prebon PLC 22,995 149,169 
Tullow Oil PLC (a) 53,850 168,806 
Ultra Electronics Holdings PLC 3,091 59,916 
Unilever PLC 49,731 2,789,514 
Unite Group PLC 12,428 142,609 
United Utilities Group PLC 26,193 267,997 
Vectura Group PLC (a) 18,438 20,611 
Vedanta Resources PLC 2,315 23,208 
Vesuvius PLC 6,559 53,140 
Victoria PLC (a) 6,214 69,978 
Victrex PLC 2,875 103,779 
Virgin Money Holdings Uk PLC 13,589 52,139 
Vodafone Group PLC 1,079,205 3,149,352 
Watkin Jones PLC 6,697 18,716 
WH Smith PLC 8,059 216,460 
Whitbread PLC 7,779 458,467 
William Hill PLC 34,280 138,182 
WM Morrison Supermarkets PLC 104,955 351,259 
Wolverhampton & Dudley Breweries PLC 23,336 34,665 
Workspace Group PLC 8,125 124,049 
Zpg PLC 7,068 34,933 
TOTAL UNITED KINGDOM  120,769,425 
United States of America - 0.1%   
Sohu.com, Inc. (a) 1,728 53,533 
Southern Copper Corp. 4,661 246,147 
Yum China Holdings, Inc. 15,688 670,819 
TOTAL UNITED STATES OF AMERICA  970,499 
TOTAL COMMON STOCKS   
(Cost $987,821,820)  1,053,031,033 
Nonconvertible Preferred Stocks - 1.3%   
Brazil - 0.6%   
Alpargatas SA (PN) 5,800 25,844 
Banco ABC Brasil SA 3,328 17,822 
Banco Bradesco SA (PN) 148,705 1,467,439 
Banco do Estado Rio Grande do Sul SA 5,300 30,394 
Bradespar SA (PN) 9,679 98,249 
Braskem SA (PN-A) 8,800 114,672 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 9,862 64,185 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 6,761 151,945 
Companhia de Saneamento do Parana 15,500 47,210 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 52,535 126,869 
Companhia Energetica de Sao Paulo Series B 5,300 26,551 
Companhia Paranaense de Energia-Copel (PN-B) 7,200 55,061 
Gerdau SA 42,203 200,582 
Gol Linhas Aereas Inteligentes SA (PN) (a) 2,100 11,641 
Itau Unibanco Holding SA 132,107 1,923,606 
Itausa-Investimentos Itau SA (PN) 169,852 659,878 
Lojas Americanas SA (PN) 34,700 197,609 
Marcopolo SA (PN) 10,100 11,763 
Metalurgica Gerdau SA (PN) 20,800 46,431 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (a) 186,386 1,222,107 
Telefonica Brasil SA 19,600 274,933 
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.) 16,600 51,650 
TOTAL BRAZIL  6,826,441 
Chile - 0.0%   
Embotelladora Andina SA Class B 5,542 27,557 
Sociedad Quimica y Minera de Chile SA (PN-B) 4,652 254,087 
TOTAL CHILE  281,644 
Colombia - 0.0%   
Bancolombia SA (PN) 6,414 76,038 
Grupo Aval Acciones y Valores SA 145,146 63,816 
Grupo de Inversiones Suramerica SA (a) 9,299 120,833 
TOTAL COLOMBIA  260,687 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 2,277 220,526 
Biotest AG (non-vtg.) 1,682 53,623 
Draegerwerk AG & Co. KGaA (non-vtg.) 125 9,238 
Fuchs Petrolub AG 2,521 135,596 
Henkel AG & Co. KGaA 6,317 804,034 
Jungheinrich AG 2,802 118,565 
Porsche Automobil Holding SE (Germany) 6,677 570,871 
Sartorius AG (non-vtg.) 1,497 231,034 
Sixt AG Preference Shares 548 44,934 
Sto SE & Co. KGaA 28 3,733 
Volkswagen AG 8,265 1,715,103 
TOTAL GERMANY  3,907,257 
Italy - 0.1%   
Buzzi Unicem SpA (Risparmio Shares) 1,220 17,532 
Danieli & C. Officine Meccaniche SpA 1,027 19,694 
Telecom Italia SpA (Risparmio Shares) 414,987 357,312 
TOTAL ITALY  394,538 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 528 88,006 
Daishin Securities Co. Ltd. 4,429 37,593 
Hyundai Motor Co. 1,277 122,820 
Hyundai Motor Co. Series 2 905 97,182 
LG Chemical Ltd. 665 127,917 
LG Household & Health Care Ltd. 112 80,529 
Samsung Electronics Co. Ltd. 901 1,778,574 
TOTAL KOREA (SOUTH)  2,332,621 
Panama - 0.0%   
Avianca Holdings SA 19,286 20,048 
Russia - 0.0%   
AK Transneft OAO 26 71,201 
Surgutneftegas OJSC 311,955 153,519 
TOTAL RUSSIA  224,720 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (a) 4,899,071 6,745 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $12,387,566)  14,254,701 
 Principal Amount Value 
Government Obligations - 0.1%   
United States of America - 0.1%   
U.S. Treasury Bills, yield at date of purchase 1.18% to 1.33% 5/10/18 to 6/21/18 (e)   
(Cost $1,099,504) 1,100,000 1,099,378 
 Shares Value 
Money Market Funds - 1.9%   
Fidelity Cash Central Fund, 1.74% (f) 8,986,286 8,988,083 
Fidelity Securities Lending Cash Central Fund 1.74% (f)(g) 11,887,186 11,888,375 
TOTAL MONEY MARKET FUNDS   
(Cost $20,876,621)  20,876,458 
TOTAL INVESTMENT IN SECURITIES - 101.0%   
(Cost $1,022,185,511)  1,089,261,570 
NET OTHER ASSETS (LIABILITIES) - (1.0)%  (11,150,496) 
NET ASSETS - 100%  $1,078,111,074 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 74 June 2018 $7,498,050 $258,146 $258,146 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 47 June 2018 2,707,670 1,301 1,301 
TME S&P/TSX 60 Index Contracts (Canada) June 2018 716,461 15,173 15,173 
TOTAL FUTURES CONTRACTS     $274,620 

The notional amount of futures purchased as a percentage of Net Assets is 1.0%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $30,281,821.

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $10,441,864 or 1.0% of net assets.

 (d) Level 3 security

 (e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,099,378.

 (f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (g) Investment made with cash collateral received from securities on loan.


Affiliated Central Funds

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 $223,551 
Fidelity Securities Lending Cash Central Fund 27,200 
Total $250,751 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $128,157,507 $82,587,687 $45,569,820 $-- 
Consumer Staples 95,828,210 49,699,855 46,122,570 5,785 
Energy 70,725,647 29,315,074 41,405,253 5,320 
Financials 228,557,227 110,299,700 118,257,527 -- 
Health Care 80,704,993 29,470,422 51,224,549 10,022 
Industrials 137,314,929 99,921,172 37,292,718 101,039 
Information Technology 122,764,095 70,768,149 51,943,691 52,255 
Materials 90,557,035 55,897,689 34,659,346 -- 
Real Estate 43,925,902 23,520,755 20,405,147 -- 
Telecommunication Services 37,860,015 9,134,780 28,725,235 -- 
Utilities 30,890,174 19,356,074 11,532,061 2,039 
Government Obligations 1,099,378 -- 1,099,378 -- 
Money Market Funds 20,876,458 20,876,458 -- -- 
Total Investments in Securities: $1,089,261,570 $600,847,815 $488,237,295 $176,460 
Derivative Instruments:     
Assets     
Futures Contracts $274,620 $274,620 $-- $-- 
Total Assets $274,620 $274,620 $-- $-- 
Total Derivative Instruments: $274,620 $274,620 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $127,231,695 
Level 2 to Level 1 $96,908,442 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $274,620 $0 
Total Equity Risk 274,620 
Total Value of Derivatives $274,620 $0 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $11,673,070) — See accompanying schedule:
Unaffiliated issuers (cost $1,001,308,890) 
$1,068,385,112  
Fidelity Central Funds (cost $20,876,621) 20,876,458  
Total Investment in Securities (cost $1,022,185,511)  $1,089,261,570 
Segregated cash with brokers for derivative instruments  127,130 
Cash  142,923 
Foreign currency held at value (cost $2,026,485)  2,021,460 
Receivable for investments sold   
Regular delivery  269,647 
Delayed delivery  271,836 
Receivable for fund shares sold  2,012,994 
Dividends receivable  3,757,488 
Distributions receivable from Fidelity Central Funds  40,692 
Other receivables  131 
Total assets  1,097,905,871 
Liabilities   
Payable for investments purchased $5,315,587  
Payable for fund shares redeemed 2,178,368  
Accrued management fee 52,926  
Payable for daily variation margin on futures contracts 52,891  
Other affiliated payables 24,855  
Other payables and accrued expenses 280,556  
Collateral on securities loaned 11,889,614  
Total liabilities  19,794,797 
Net Assets  $1,078,111,074 
Net Assets consist of:   
Paid in capital  $999,921,591 
Undistributed net investment income  9,248,356 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  1,882,520 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  67,058,607 
Net Assets  $1,078,111,074 
Investor Class:   
Net Asset Value, offering price and redemption price per share ($19,170,839 ÷ 1,524,102 shares)  $12.58 
Premium Class:   
Net Asset Value, offering price and redemption price per share ($581,050,921 ÷ 46,183,351 shares)  $12.58 
Institutional Class:   
Net Asset Value, offering price and redemption price per share ($256,206,558 ÷ 20,363,111 shares)  $12.58 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($221,682,756 ÷ 17,616,121 shares)  $12.58 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $12,383,786 
Interest  7,322 
Income from Fidelity Central Funds  250,751 
Income before foreign taxes withheld  12,641,859 
Less foreign taxes withheld  (1,184,065) 
Total income  11,457,794 
Expenses   
Management fee $261,657  
Transfer agent fees 127,177  
Independent trustees' fees and expenses 1,548  
Miscellaneous 1,115  
Total expenses before reductions 391,497  
Expense reductions (777) 390,720 
Net investment income (loss)  11,067,074 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $6,914) 530,436  
Fidelity Central Funds (728)  
Foreign currency transactions 326,341  
Futures contracts 2,401,423  
Total net realized gain (loss)  3,257,472 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of decrease in deferred foreign taxes of $5,556) 8,115,297  
Fidelity Central Funds 504  
Assets and liabilities in foreign currencies (60,736)  
Futures contracts 265,366  
Total change in net unrealized appreciation (depreciation)  8,320,431 
Net gain (loss)  11,577,903 
Net increase (decrease) in net assets resulting from operations  $22,644,977 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $11,067,074 $8,251,362 
Net realized gain (loss) 3,257,472 2,020,325 
Change in net unrealized appreciation (depreciation) 8,320,431 59,037,611 
Net increase (decrease) in net assets resulting from operations 22,644,977 69,309,298 
Distributions to shareholders from net investment income (9,481,475) (438,332) 
Distributions to shareholders from net realized gain (3,257,844) (81,892) 
Total distributions (12,739,319) (520,224) 
Share transactions - net increase (decrease) 423,336,212 518,835,415 
Redemption fees 11,499 38,564 
Total increase (decrease) in net assets 433,253,369 587,663,053 
Net Assets   
Beginning of period 644,857,705 57,194,652 
End of period $1,078,111,074 $644,857,705 
Other Information   
Undistributed net investment income end of period $9,248,356 $7,662,757 

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


Financial Highlights

Fidelity Total International Index Fund Investor Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.38 $10.08 $10.00 
Income from Investment Operations    
Net investment income (loss)B .15 .29 .08 
Net realized and unrealized gain (loss) .26 2.05 C 
Total from investment operations .41 2.34 .08 
Distributions from net investment income (.16) (.03) – 
Distributions from net realized gain (.06) (.01) – 
Total distributions (.21)D (.04) – 
Redemption fees added to paid in capitalB,C – – – 
Net asset value, end of period $12.58 $12.38 $10.08 
Total ReturnE,F 3.39% 23.31% .80% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .17%I .18% .21%I 
Expenses net of fee waivers, if any .17%I .18% .18%I 
Expenses net of all reductions .17%I .18% .18%I 
Net investment income (loss) 2.46%I 2.53% 1.97%I 
Supplemental Data    
Net assets, end of period (000 omitted) $19,171 $13,060 $3,170 
Portfolio turnover rateJ 2%I 2% 1%K 

 A For the period June 7, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $.21 per share is comprised of distributions from net investment income of $.156 and distributions from net realized gain of $.057 per share.

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

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

 G 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.

 H 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. 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 class.

 I Annualized

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

 K Amount not annualized.


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


Fidelity Total International Index Fund Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.39 $10.09 $10.00 
Income from Investment Operations    
Net investment income (loss)B .16 .30 .08 
Net realized and unrealized gain (loss) .25 2.04 .01 
Total from investment operations .41 2.34 .09 
Distributions from net investment income (.16) (.04) – 
Distributions from net realized gain (.06) (.01) – 
Total distributions (.22) (.04)C – 
Redemption fees added to paid in capitalB,D – – – 
Net asset value, end of period $12.58 $12.39 $10.09 
Total ReturnE,F 3.38% 23.34% .90% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .10%I .11% .11%I 
Expenses net of fee waivers, if any .10%I .11% .11%I 
Expenses net of all reductions .10%I .11% .11%I 
Net investment income (loss) 2.53%I 2.60% 2.05%I 
Supplemental Data    
Net assets, end of period (000 omitted) $581,051 $391,741 $51,494 
Portfolio turnover rateJ 2%I 2% 1%K 

 A For the period June 7, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Total distributions of $.04 per share is comprised of distributions from net investment income of $.037 and distributions from net realized gain of $.007 per share.

 D Amount represents less than $.005 per share.

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

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

 G 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.

 H 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. 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 class.

 I Annualized

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

 K Amount not annualized.


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


Fidelity Total International Index Fund Institutional Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.39 $10.09 $10.00 
Income from Investment Operations    
Net investment income (loss)B .16 .30 .08 
Net realized and unrealized gain (loss) .25 2.05 .01 
Total from investment operations .41 2.35 .09 
Distributions from net investment income (.17) (.04) – 
Distributions from net realized gain (.06) (.01) – 
Total distributions (.22)C (.05) – 
Redemption fees added to paid in capitalB,D – – – 
Net asset value, end of period $12.58 $12.39 $10.09 
Total ReturnE,F 3.40% 23.35% .90% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .08%I .09% .13%I 
Expenses net of fee waivers, if any .08%I .09% .09%I 
Expenses net of all reductions .08%I .09% .09%I 
Net investment income (loss) 2.55%I 2.62% 2.06%I 
Supplemental Data    
Net assets, end of period (000 omitted) $256,207 $104,569 $1,241 
Portfolio turnover rateJ 2%I 2% 1%K 

 A For the period June 7, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Total distributions of $.22 per share is comprised of distributions from net investment income of $.167 and distributions from net realized gain of $.057 per share.

 D Amount represents less than $.005 per share.

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

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

 G 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.

 H 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. 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 class.

 I Annualized

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

 K Amount not annualized.


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


Fidelity Total International Index Fund Institutional Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.39 $10.09 $10.00 
Income from Investment Operations    
Net investment income (loss)B .16 .31 .08 
Net realized and unrealized gain (loss) .26 2.04 .01 
Total from investment operations .42 2.35 .09 
Distributions from net investment income (.17) (.04) – 
Distributions from net realized gain (.06) (.01) – 
Total distributions (.23) (.05) – 
Redemption fees added to paid in capitalB,C – – – 
Net asset value, end of period $12.58 $12.39 $10.09 
Total ReturnD,E 3.42% 23.37% .90% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .06%H .06% .10%H 
Expenses net of fee waivers, if any .06%H .06% .06%H 
Expenses net of all reductions .06%H .06% .06%H 
Net investment income (loss) 2.57%H 2.65% 2.09%H 
Supplemental Data    
Net assets, end of period (000 omitted) $221,683 $135,488 $1,289 
Portfolio turnover rateI 2%H 2% 1%J 

 A For the period June 7, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

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

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

 F 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.

 G 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. 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 class.

 H Annualized

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

 J Amount not annualized.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity Total International Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. 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 offers Investor Class, Premium Class, Institutional Class and Institutional Premium 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. The Fund offers conversion privileges between share classes to eligible shareholders. 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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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 April 30, 2018, including information on transfers between Levels 1 and 2, 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.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of the 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 the 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.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

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

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $108,860,333 
Gross unrealized depreciation (41,513,800) 
Net unrealized appreciation (depreciation) $67,346,533 
Tax cost $1,022,189,657 

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital. In November 2017, the Board of Trustees approved the elimination of these redemption fees effective December 18, 2017.

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in the Fund's Schedule of Investments. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. 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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $429,278,072 and $7,434,817, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. 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. The management fee is based on an annual rate of .06% of the Fund's average net assets. Under the management contract, the investment adviser pays all other fund-level expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense, including commitment fees.

In addition, under the 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 .17% 
Premium Class .10% 
Institutional Class .08% 
Institutional Premium Class .06% 

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.

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. FIIOC receives transfer agent fees at an annual rate of .21%, .11%, .035% and .015% of class-level average net assets for Investor Class, Premium Class, Institutional Class and Institutional Premium Class, respectively. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Under the expense contract, Investor Class, Premium Class and Institutional Class pay a portion of the transfer agent fees at an annual rate of .11%, .04% and .02% of class-level average net assets, respectively, and Institutional Premium Class does not pay transfer agent fees.

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

 Amount % of Class-Level Average Net Assets(a) 
Investor Class $9,028 .11 
Premium Class 98,483 .04 
Institutional Class 19,666 .02 
 $127,177  

 (a) Annualized


Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

Other. During the period, the investment adviser reimbursed the Fund for certain losses in the amount of $4,003.

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 $1,115 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

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. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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 $27,200.

9. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's expenses by $777.

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2018 
Year ended
October 31, 2017 
From net investment income   
Investor Class $176,099 $12,356 
Premium Class 5,601,261 274,306 
Institutional Class 1,845,464 147,084 
Institutional Premium Class 1,858,651 4,586 
Total $9,481,475 $438,332 
From net realized gain   
Investor Class $64,345 $2,668 
Premium Class 1,939,212 51,468 
Institutional Class 629,512 26,952 
Institutional Premium Class 624,775 804 
Total $3,257,844 $81,892 

11. Share Transactions.

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

 Shares Shares Dollars Dollars 
 Six months ended April 30, 2018 Year ended October 31, 2017 Six months ended April 30, 2018 Year ended October 31, 2017 
Investor Class     
Shares sold 1,414,038 2,080,742 $17,897,932 $23,149,243 
Reinvestment of distributions 19,410 1,459 236,609 14,518 
Shares redeemed (964,171) (1,341,742) (12,236,263) (15,054,293) 
Net increase (decrease) 469,277 740,459 $5,898,278 $8,109,468 
Premium Class     
Shares sold 18,542,143 29,938,258 $234,584,468 $332,799,582 
Reinvestment of distributions 578,359 29,064 7,050,193 289,118 
Shares redeemed (4,557,762) (3,451,383) (57,717,084) (39,220,046) 
Net increase (decrease) 14,562,740 26,515,939 $183,917,577 $293,868,654 
Institutional Class     
Shares sold 15,174,273 8,773,177 $190,471,670 $96,370,730 
Reinvestment of distributions 202,632 17,495 2,470,085 174,036 
Shares redeemed (3,453,132) (474,363) (43,773,451) (5,749,005) 
Net increase (decrease) 11,923,773 8,316,309 $149,168,304 $90,795,761 
Institutional Premium Class     
Shares sold 6,551,340 10,950,498 $82,765,590 $127,826,848 
Reinvestment of distributions 203,726 542 2,483,426 5,390 
Shares redeemed (70,990) (146,727) (896,963) (1,770,706) 
Net increase (decrease) 6,684,076 10,804,313 $84,352,053 $126,061,532 

12. 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.

Shareholder Expense Example

As a shareholder of the 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 Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2017 to April 30, 2018).

Actual Expenses

The first line of the accompanying table for each class of the 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, 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 for each class of the 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, 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.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Investor Class .17%    
Actual  $1,000.00 $1,033.90 $.86 
Hypothetical-C  $1,000.00 $1,023.95 $.85 
Premium Class .10%    
Actual  $1,000.00 $1,033.80 $.50 
Hypothetical-C  $1,000.00 $1,024.30 $.50 
Institutional Class .08%    
Actual  $1,000.00 $1,034.00 $.40 
Hypothetical-C  $1,000.00 $1,024.40 $.40 
Institutional Premium Class .06%    
Actual  $1,000.00 $1,034.20 $.30 
Hypothetical-C  $1,000.00 $1,024.50 $.30 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

TI1-SANN-0618
1.9879612.101


Fidelity® Total International Index Fund
Institutional Class and Institutional Premium Class



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 1.1 
Nestle SA (Reg. S) (Switzerland, Food Products) 0.9 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 0.9 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet Software & Services) 0.8 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.8 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 0.7 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
Novartis AG (Switzerland, Pharmaceuticals) 0.7 
Toyota Motor Corp. (Japan, Automobiles) 0.7 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.6 
 7.9 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 24.0 
Industrials 12.7 
Consumer Discretionary 11.9 
Information Technology 10.6 
Consumer Staples 8.7 
Materials 8.0 
Health Care 7.1 
Energy 6.8 
Real Estate 4.1 
Telecommunication Services 3.5 

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 17.3% 
   United Kingdom 11.2% 
   France 6.4% 
   Germany 6.3% 
   Canada 6.2% 
   Switzerland 4.9% 
   Australia 4.4% 
   Cayman Islands 4.3% 
   Korea (South) 3.9% 
   Other* 35.1% 


 * 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.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 
Short-Term Investments and Net Other Assets (Liabilities) 0.0 

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.7%   
 Shares Value 
Australia - 4.4%   
360 Capital Industrial Fund 999 $1,886 
Abacus Property Group unit 2,727 7,399 
Accent Group Ltd. 1,212 1,139 
Adelaide Brighton Ltd. 18,053 87,099 
AGL Energy Ltd. 26,910 438,564 
ALS Ltd. 25,714 150,066 
Altium Ltd. 5,371 81,566 
Alumina Ltd. 108,717 213,996 
Amcor Ltd. 48,431 499,080 
AMP Ltd. 118,062 357,394 
Ansell Ltd. 5,788 113,086 
APA Group unit 44,385 277,859 
APN News & Media Ltd. 14,469 25,429 
APN Outdoor Group Ltd. 16,583 67,908 
ARB Corp. Ltd. 8,281 129,165 
Ardent Leisure Group unit 13,116 18,571 
Aristocrat Leisure Ltd. 23,540 472,226 
Asaleo Care Ltd. 2,008 1,953 
ASX Ltd. 7,313 321,500 
Aurizon Holdings Ltd. 92,761 312,163 
Austal Ltd. 24,631 32,680 
Australia & New Zealand Banking Group Ltd. 120,015 2,412,566 
Australian Agricultural Co. Ltd. (a) 4,710 3,886 
Australian Pharmaceutical Industries Ltd. 4,913 4,989 
Automotive Holdings Group Ltd. 2,148 5,439 
Babcock & Brown Wind Partners (a) 22,022 11,412 
Bank of Queensland Ltd. 19,792 149,119 
Bapcor Ltd. 5,594 24,681 
Beach Energy Ltd. 66,766 78,744 
Bega Cheese Ltd. 7,332 39,077 
Bellamy's Australia Ltd. (a) 3,737 50,624 
Bendigo & Adelaide Bank Ltd. 22,123 176,082 
BHP Billiton Ltd. 132,376 3,088,233 
Blackmores Ltd. 648 57,358 
BlueScope Steel Ltd. 23,992 294,849 
Boral Ltd. 49,588 255,194 
Brambles Ltd. 64,254 475,427 
Breville Group Ltd. 3,281 28,003 
Brickworks Ltd. 3,884 46,578 
BT Investment Management Ltd. 5,921 40,678 
BWP Trust 13,548 31,843 
Caltex Australia Ltd. 12,533 291,452 
Carsales.com Ltd. 13,044 140,006 
Challenger Ltd. 23,687 191,509 
Charter Hall Group unit 16,947 75,004 
Charter Hall Long Wale REIT unit 5,867 18,011 
Charter Hall Retail REIT 4,482 13,282 
Cimic Group Ltd. 4,172 141,968 
Coca-Cola Amatil Ltd. 26,226 183,061 
Cochlear Ltd. 2,135 310,706 
Commonwealth Bank of Australia 72,300 3,892,952 
Computershare Ltd. 17,729 225,540 
Corporate Travel Management Ltd. 2,449 45,597 
Costa Group Holdings Ltd. 19,396 105,723 
Credit Corp. Group Ltd. 3,751 50,474 
Cromwell Property Group unit 19,567 15,926 
Crown Ltd. 17,418 169,058 
CSL Ltd. 18,746 2,401,157 
CSR Ltd. 34,399 145,143 
DEXUS Property Group unit 47,871 340,437 
Domain Holdings Australia Ltd. 4,825 11,187 
Dominos Pizza Enterprises Ltd. 2,092 66,227 
Downer EDI Ltd. 30,890 158,984 
DuluxGroup Ltd. 11,077 64,403 
Eclipx Group Ltd. 20,177 49,148 
Estia Health Ltd. 5,345 14,245 
Evolution Mining Ltd. 57,818 138,211 
FKP Property Group unit 11,567 22,717 
Flexigroup Ltd. 24,844 38,414 
Flight Centre Travel Group Ltd. 2,726 114,197 
Folkestone Education Trust 954 2,052 
Fortescue Metals Group Ltd. 65,343 221,700 
G8 Education Ltd. 15,862 26,947 
Galaxy Resources Ltd. (a)(b) 17,639 40,001 
Gateway Lifestyle Holdings Pty Ltd. unit 11,967 17,852 
GDI Property Group unit 5,098 4,792 
Genworth Mortgage Insurance Ltd. 21,812 37,984 
Goodman Group unit 71,312 485,174 
GrainCorp Ltd. 13,794 91,785 
Greencross Ltd. 445 1,774 
Growthpoint Properties Australia Ltd. 1,348 3,480 
GUD Holdings Ltd. 1,514 14,383 
GWA Group Ltd. 15,587 45,002 
Hansen Technologies Ltd. 12,222 39,385 
Harvey Norman Holdings Ltd. 35,366 93,224 
Healthscope Ltd. 87,675 159,738 
IDP Education Ltd. 4,639 26,661 
Iluka Resources Ltd. 23,622 207,375 
Incitec Pivot Ltd. 72,390 206,002 
Independence Group NL 28,450 109,448 
Inghams Group Ltd. 8,510 24,011 
Insurance Australia Group Ltd. 95,199 563,570 
Investa Office Fund unit 33,490 110,314 
Invocare Ltd. 6,597 64,473 
IOOF Holdings Ltd. 8,929 59,965 
IPH Ltd. 12,190 33,429 
Iress Ltd. 12,570 98,609 
Japara Healthcare Ltd. 589 841 
JB Hi-Fi Ltd. 7,750 149,417 
John Fairfax Holdings Ltd. 133,759 71,596 
Karoon Gas Australia Ltd. (a) 1,197 1,136 
Lendlease Group unit 22,239 298,255 
Link Administration Holdings Ltd. 15,598 97,056 
Lynas Corp. Ltd. (a) 24,884 47,956 
Macquarie Atlas Roads Group unit 26,503 128,146 
Macquarie Group Ltd. 12,927 1,052,752 
Magellan Financial Group Ltd. 5,722 99,966 
Mantra Group Ltd. 10,722 31,840 
Mayne Pharma Group Ltd. (a) 85,853 43,767 
McMillan Shakespeare Ltd. 3,134 39,600 
Medibank Private Ltd. 126,941 278,986 
Mesoblast Ltd. (a) 3,999 4,396 
Metcash Ltd. 47,236 127,495 
Mineral Resources Ltd. 7,162 95,906 
Mirvac Group unit 139,142 233,505 
Monadelphous Group Ltd. 7,750 93,734 
Myer Holdings Ltd. 14,173 4,093 
MYOB Group Ltd. 32,308 78,776 
Nanosonics Ltd. (a) 18,193 32,762 
National Australia Bank Ltd. 110,583 2,403,969 
National Storage (REIT) unit 1,548 1,859 
Navitas Ltd. 20,533 65,743 
Newcrest Mining Ltd. 31,904 505,677 
NEXTDC Ltd. (a) 20,114 103,301 
Nine Entertainment Co. Holdings Ltd. 35,938 63,640 
Northern Star Resources Ltd. 28,206 134,613 
Nufarm Ltd. 19,264 131,674 
oOh!media Ltd. 510 1,862 
Orica Ltd. 14,174 211,180 
Origin Energy Ltd. (a) 71,884 524,809 
Orocobre Ltd. (a) 9,603 40,150 
Orora Ltd. 69,837 175,154 
OZ Minerals Ltd. 9,982 68,886 
Pact Group Holdings Ltd. (c) 2,344 9,981 
Perpetual Trustees Australia Ltd. 1,277 38,525 
Pilbara Minerals Ltd. (a)(b) 50,212 34,259 
Platinum Asset Management Ltd. 6,911 29,316 
Premier Investments Ltd. 9,493 112,088 
Primary Health Care Ltd. 35,390 100,894 
QBE Insurance Group Ltd. 58,265 435,157 
Qube Holdings Ltd. 74,713 128,767 
Quintis Ltd. (a)(d) 790 
Ramsay Health Care Ltd. 5,167 251,197 
realestate.com.au Ltd. 2,889 174,905 
Regis Healthcare Ltd. 290 833 
Regis Resources Ltd. 17,336 61,176 
Reliance Worldwide Corp. Ltd. 31,595 112,121 
Resolute Mng Ltd. 38,705 33,055 
Retail Food Group Ltd. 1,163 805 
Rio Tinto Ltd. 17,174 1,022,096 
Sandfire Resources NL 7,992 47,300 
Santos Ltd. (a) 77,600 357,411 
Saracen Mineral Holdings Ltd. (a) 53,513 75,225 
Scentre Group unit 219,373 663,058 
SEEK Ltd. 14,225 206,915 
Select Harvests Ltd. 5,638 26,397 
Seven Group Holdings Ltd. 6,774 92,369 
Shopping Centres Australasia Property Group unit 15,213 27,169 
Sigma Healthcare Ltd. 31,213 18,137 
Sims Metal Management Ltd. 9,684 117,038 
Sirtex Medical Ltd. 3,431 71,756 
Smartgroup Corp. Ltd. 2,759 22,478 
Sonic Healthcare Ltd. 15,920 282,265 
South32 Ltd. 220,573 612,095 
Southern Cross Media Group Ltd. 34,197 29,611 
SP AusNet 56,286 72,659 
Spark Infrastructure Group unit 90,564 159,683 
SpeedCast International Ltd. 9,792 43,491 
St Barbara Ltd. 27,260 86,967 
Steadfast Group Ltd. 20,335 41,871 
Stockland Corp. Ltd. unit 103,532 321,820 
Suncorp Group Ltd. 52,773 555,051 
Super Retail Group Ltd. 6,031 32,607 
Sydney Airport unit 42,575 227,950 
Syrah Resources Ltd. (a) 14,130 33,830 
Tabcorp Holdings Ltd. 73,206 240,727 
Tassal Group Ltd. 1,218 3,548 
Technology One Ltd. 15,556 57,782 
Telstra Corp. Ltd. 161,792 384,681 
The GPT Group unit 79,984 290,031 
The Star Entertainment Group Ltd. 36,093 142,830 
Tox Free Solutions Ltd. 2,376 6,148 
TPG Telecom Ltd. 20,251 84,944 
Transpacific Industries Group Ltd. 87,115 103,453 
Transurban Group unit 91,396 796,398 
Treasury Wine Estates Ltd. 30,165 430,877 
Vicinity Centers unit 144,364 264,327 
Village Roadshow Ltd. (a) 338 549 
Virtus Health Ltd. 1,474 6,251 
Viva Energy REIT unit (c) 6,394 9,694 
Vocus Group Ltd. 29,228 53,717 
Washington H. Soul Pattinson & Co. Ltd. 8,475 123,608 
Webjet Ltd. 6,126 50,460 
Wesfarmers Ltd. 46,661 1,535,128 
West Australian Newspapers Holdings Ltd. 7,448 3,098 
Western Areas NL 25,883 66,650 
Westfield Corp. unit (a) 81,137 560,671 
Westgold Resources Ltd. (a) 892 987 
Westpac Banking Corp. 139,805 3,003,076 
Whitehaven Coal Ltd. 25,235 87,017 
WiseTech Global Ltd. 3,275 24,597 
Woodside Petroleum Ltd. 39,759 963,500 
Woolworths Group Ltd. 52,893 1,106,298 
WorleyParsons Ltd. 8,949 109,077 
TOTAL AUSTRALIA  47,834,330 
Austria - 0.3%   
ams AG 2,579 214,388 
Andritz AG 2,985 160,625 
Austria Technologie & Systemtechnik AG 1,807 44,843 
BUWOG AG 1,098 38,505 
CA Immobilien Anlagen AG 3,151 109,360 
DO & CO Restaurants & Catering AG 329 20,461 
Erste Group Bank AG 12,640 619,721 
EVN AG 1,673 34,305 
IMMOFINANZ Immobilien Anlagen AG 45,009 118,163 
Lenzing AG 763 89,237 
Oesterreichische Post AG 1,485 71,480 
OMV AG 6,015 374,081 
PORR AG 109 3,883 
Raiffeisen International Bank-Holding AG 6,352 214,779 
S IMMO AG 1,268 25,112 
S&T AG 2,046 52,874 
Schoeller-Bleckmann Oilfield Equipment AG 436 54,178 
Telekom Austria AG 5,047 48,149 
UNIQA Insurance Group AG 7,655 91,795 
Vienna Insurance Group AG 4,167 135,765 
Voestalpine AG 4,481 236,526 
Wienerberger AG 5,103 128,794 
Zumtobel AG 292 2,645 
TOTAL AUSTRIA  2,889,669 
Bailiwick of Guernsey - 0.0%   
Burford Capital Ltd. 6,852 135,837 
Schroder (REIT) Ltd. 2,240 1,884 
Standard Life Investment Property Income Trust Ltd. 929 1,202 
Stobart Group Ltd. 9,513 31,956 
TOTAL BAILIWICK OF GUERNSEY  170,879 
Bailiwick of Jersey - 0.7%   
Boohoo.Com PLC (a) 29,472 74,372 
Centamin PLC 69,901 150,845 
Experian PLC 36,200 829,422 
Glencore Xstrata PLC 501,727 2,422,382 
IWG PLC 28,186 96,155 
Petrofac Ltd. 15,286 127,023 
Randgold Resources Ltd. 3,587 290,847 
Shire PLC 37,660 2,005,392 
UBM PLC 14,761 196,712 
Wolseley PLC 9,828 754,986 
WPP PLC 52,965 908,886 
TOTAL BAILIWICK OF JERSEY  7,857,022 
Belgium - 0.8%   
Ablynx NV (a) 3,227 174,504 
Ackermans & Van Haaren SA 1,294 234,083 
Aedifica SA 286 25,972 
Ageas 7,405 397,484 
Agfa-Gevaert NV (a) 13,944 49,910 
Anheuser-Busch InBev SA NV 31,862 3,182,780 
Barco NV 298 38,578 
Befimmo SCA Sicafi 370 24,038 
Bekaert SA 2,466 103,871 
Bpost SA 3,768 82,678 
Cofinimmo SA 1,456 193,409 
Colruyt NV 3,012 169,789 
Compagnie D'entreprises CFE SA 465 58,624 
D'ieteren SA 2,258 96,146 
Econocom Group SA 8,036 51,918 
Elia System Operator SA/NV 1,311 82,958 
Euronav NV 7,121 57,744 
EVS Broadcast Equipment SA 346 11,386 
Fagron NV (a) 2,217 38,285 
Galapagos Genomics NV (a) 1,837 164,602 
Gimv NV 291 17,465 
Groupe Bruxelles Lambert SA 2,774 318,105 
Ion Beam Applications SA 586 12,023 
KBC Ancora 1,298 78,765 
KBC Groep NV 10,233 894,674 
Kinepolis Group NV 846 59,152 
Melexis NV 695 66,345 
Nyrstar NV (a) 3,127 21,675 
Ontex Group NV 3,196 82,130 
Orange Belgium 576 11,978 
Proximus 6,691 205,476 
Sofina SA 1,152 201,439 
Solvay SA Class A 3,001 418,935 
Telenet Group Holding NV (a) 2,889 169,414 
Tessenderlo Group (a) 1,881 79,048 
UCB SA 5,575 422,524 
Umicore SA 8,793 491,208 
Van de Velde 142 5,873 
Warehouses de Pauw 857 105,561 
Warehouses de Pauw rights (a) 367 1,994 
TOTAL BELGIUM  8,902,543 
Bermuda - 0.6%   
AGTech Holdings Ltd. (a) 40,000 4,358 
Alibaba Health Information Technology Ltd. (a) 90,000 45,259 
Alibaba Pictures Group Ltd. (a) 440,000 49,564 
Beijing Enterprises Water Group Ltd. 290,000 168,369 
BEP International Holdings Ltd. (a) 110,000 1,545 
Borr Drilling Ltd. (a)(b) 19,796 91,302 
Brightoil Petroleum Holdings Ltd. (a)(d) 26,000 4,969 
Brilliance China Automotive Holdings Ltd. 124,000 220,784 
BW LPG Ltd. (a)(c) 821 2,868 
BW Offshore Ltd. (a) 3,569 19,530 
C C Land Holdings Ltd. 30,000 6,841 
C.banner International Holdings Ltd. (a) 19,000 5,889 
Cafe de Coral Holdings Ltd. 6,000 14,732 
Carnival Group International Holdings Ltd. (a) 125,000 5,484 
Cheung Kong Infrastructure Holdings Ltd. 22,500 177,579 
China Foods Ltd. 6,000 2,754 
China Gas Holdings Ltd. 68,800 243,805 
China Innovationpay Group Ltd. (a) 216,000 19,975 
China Oil & Gas Group Ltd. 360,000 26,890 
China Resource Gas Group Ltd. 44,000 161,815 
China Trustful Group Ltd. (a) 4,000 1,572 
China Water Affairs Group Ltd. 40,000 37,962 
Chow Sang Sang Holdings International Ltd. 2,000 4,386 
CITIC Resources Holdings Ltd. 16,000 1,802 
CMBC Capital Holdings Ltd. 600,000 47,051 
Cosco Shipping Ports Ltd. 64,311 56,560 
Credicorp Ltd. (United States) 2,836 659,342 
Digital China Holdings Ltd. (H Shares) (a) 21,261 12,117 
Digital Domain Holdings Ltd. (a) 470,000 9,826 
Emperor International Holding Ltd. 54,000 16,381 
Esprit Holdings Ltd. (a) 52,400 18,105 
FDG Electric Vehicles Ltd. (a) 505,000 15,777 
Frontline Ltd. 824 3,566 
G-Resources Group Ltd. (a) 138,000 1,139 
GCL New Energy Holdings Ltd. (a) 476,000 26,402 
Giordano International Ltd. 56,000 34,220 
Global Brands Group Holding Ltd. (a) 142,000 6,998 
Golden Ocean Group Ltd. 5,388 43,555 
GOME Electrical Appliances Holdings Ltd. 373,000 40,122 
Great Eagle Holdings Ltd. 6,080 30,712 
GZI Transport Ltd. 72,000 54,291 
Haier Electronics Group Co. Ltd. 58,000 200,667 
HengTen Networks Group Ltd. (a) 892,000 34,278 
Hiscox Ltd. 11,430 234,304 
Hoegh LNG Holdings Ltd. 550 3,205 
Hongkong Land Holdings Ltd. 48,000 346,908 
Hopson Development Holdings Ltd. 44,000 46,809 
Huabao International Holdings Ltd. 41,000 26,112 
Huanxi Media Group Ltd. (a) 10,000 2,543 
Jardine Matheson Holdings Ltd. 8,645 523,487 
Jardine Strategic Holdings Ltd. 9,566 362,029 
Johnson Electric Holdings Ltd. 31,000 107,927 
K Wah International Holdings Ltd. 76,902 47,204 
Kerry Logistics Network Ltd. 15,500 23,669 
Kerry Properties Ltd. 39,500 188,831 
Kingston Financial Group Ltd. 148,000 75,241 
KuangChi Science Ltd. (a) 26,000 5,907 
Kunlun Energy Co. Ltd. 156,000 133,570 
Lancashire Holdings Ltd. 7,267 59,627 
Landing International Development Ltd. (a) 2,700,000 61,221 
Li & Fung Ltd. 308,000 154,900 
Luk Fook Holdings International Ltd. 17,000 71,056 
Luye Pharma Group Ltd. 78,500 83,225 
Man Wah Holdings Ltd. 80,800 59,758 
Nan Hai Corp. Ltd. 100,000 2,585 
Neo-China Group (Holdings) Ltd. 8,000 1,721 
Nine Dragons Paper (Holdings) Ltd. 70,000 104,402 
Noble Group Ltd. (a) 14,530 888 
NWS Holdings Ltd. 47,367 93,399 
Pacific Basin Shipping Ltd. (a) 130,000 34,566 
Panda Green Energy Group Ltd. (a) 56,000 5,971 
PAX Global Technology Ltd. 14,000 6,333 
Petra Diamonds Ltd. (a) 26,731 25,190 
Pou Sheng International (Holdings) Ltd. 181,000 30,180 
Road King Infrastructure Ltd. 20,000 37,918 
Shangri-La Asia Ltd. 58,000 112,875 
Shenzhen International Holdings Ltd. 62,074 135,625 
Sihuan Pharmaceutical Holdings Group Ltd. 119,000 28,761 
Silverlake Axis Ltd. Class A 81,300 33,631 
Sinopec Kantons Holdings Ltd. 50,000 23,652 
Skyfame Realty Holdings Ltd. (a) 50,000 35,143 
Skyworth Digital Holdings Ltd. 72,098 32,761 
SmarTone Telecommunications Holdings Ltd. 2,643 2,794 
SMI Corp. Ltd. 7,200 3,109 
Stolt-Nielsen SA 172 2,444 
Tai Fook Securities Group Ltd. 81,507 47,514 
Texwinca Holdings Ltd. 6,000 3,017 
Town Health International Holdings Co. Ltd. (d) 114,000 10,022 
Vtech Holdings Ltd. 12,400 150,986 
Yue Yuen Industrial (Holdings) Ltd. 43,000 121,861 
TOTAL BERMUDA  6,336,024 
Brazil - 1.1%   
AES Tiete Energia SA unit 1,912 6,222 
Aliansce Shopping Centers SA 600 2,948 
Alupar Investimento SA unit 24,300 120,765 
Ambev SA 197,963 1,318,359 
Arezzo Industria e Comercio SA 1,400 21,173 
Atacadao Distribuicao Comercio e Industria Ltda 19,200 82,759 
B2W Companhia Global do Varejo (a) 8,704 71,805 
Banco Bradesco SA 30,481 277,559 
Banco do Brasil SA 34,600 362,474 
Banco Santander SA (Brasil) unit 17,800 193,640 
BB Seguridade Participacoes SA 30,100 236,112 
BM&F BOVESPA SA 82,378 594,931 
BR Malls Participacoes SA 28,805 89,790 
Brasil Foods SA (a) 17,200 121,763 
CCR SA 45,584 155,625 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 10,400 56,613 
Cia. Hering SA 3,800 20,718 
Cielo SA 49,760 272,720 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 13,400 134,490 
Companhia de Saneamento de Minas Gerais 4,900 70,496 
Companhia Energetica de Minas Gerais (CEMIG) 186 409 
Companhia Siderurgica Nacional SA (CSN) (a) 29,387 73,652 
Cosan SA Industria e Comercio 8,700 98,791 
CVC Brasil Operadora e Agencia de Viagens SA 4,200 69,524 
Cyrela Brazil Realty SA 7,700 30,552 
Drogasil SA 9,100 178,665 
Duratex SA 8,400 25,657 
Ecorodovias Infraestrutura e Logistica SA 3,000 8,521 
EDP Energias do Brasil SA 11,600 45,993 
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA 4,600 44,855 
Embraer SA 28,988 183,202 
ENGIE Brasil Energia SA 5,745 60,661 
Equatorial Energia SA 10,100 205,131 
Estacio Participacoes SA 11,600 105,629 
Fibria Celulose SA 10,400 204,277 
Fleury SA 9,500 70,805 
Hypermarcas SA 16,800 151,062 
Iguatemi Empresa de Shopping Centers SA 1,300 13,248 
Iochpe-Maxion SA 3,830 30,721 
Itausa-Investimentos Itau SA 3,087 11,896 
JBS SA 30,600 76,430 
Klabin SA unit 23,900 144,838 
Kroton Educacional SA 64,654 258,564 
Light SA (a) 3,100 15,521 
Linx SA 10,800 68,934 
Localiza Rent A Car SA 20,970 166,948 
Lojas Renner SA 36,877 343,274 
M. Dias Branco SA 3,357 42,164 
Magazine Luiza SA 3,000 91,382 
Marfrig Global Foods SA (a) 4,500 10,174 
Minerva SA 600 1,404 
MRV Engenharia e Participacoes SA 8,200 35,111 
Multiplan Empreendimentos Imobiliarios SA 3,532 67,067 
Multiplus SA 700 5,715 
Natura Cosmeticos SA 6,300 57,925 
Odontoprev SA 13,800 59,207 
Petroleo Brasileiro SA - Petrobras (ON) (a) 102,800 722,757 
Porto Seguro SA 7,400 95,478 
Qualicorp SA 7,500 52,131 
Rumo SA (a) 42,300 179,309 
Sao Martinho SA 21,600 104,695 
Smiles Fidelidade SA 1,900 39,050 
Sul America SA unit 11,735 72,423 
Suzano Papel e Celulose SA 17,300 202,768 
Terna Participacoes SA unit 20,300 123,369 
TIM Participacoes SA 45,280 206,159 
Totvs SA 9,200 84,037 
Ultrapar Participacoes SA 16,100 277,816 
Vale SA 132,174 1,836,295 
Valid Solucoes SA 660 3,448 
Via Varejo SA unit 6,100 51,803 
Weg SA 29,640 150,434 
TOTAL BRAZIL  11,470,843 
British Virgin Islands - 0.0%   
First Pacific Co. Ltd. 62,000 31,748 
Canada - 6.2%   
Advantage Oil & Gas Ltd. (a) 9,749 31,055 
Aecon Group, Inc. 4,244 59,663 
AG Growth International, Inc. 175 7,096 
AGF Management Ltd. Class B (non-vtg.) 1,711 9,395 
Agnico Eagle Mines Ltd. (Canada) 9,941 418,328 
AGT Food & Ingredients, Inc. 170 2,171 
Aimia, Inc. 2,333 4,016 
Alacer Gold Corp. (a) 4,325 7,175 
Alamos Gold, Inc. 19,012 102,764 
Alaris Royalty Corp. 1,959 25,984 
Algonquin Power & Utilities Corp. 21,349 207,845 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 18,206 787,114 
Allied Properties (REIT) 831 26,847 
AltaGas Ltd. 9,271 178,712 
Altius Minerals Corp. 306 3,415 
Altus Group Ltd. 1,256 31,597 
ARC Resources Ltd. 18,687 208,418 
Aritzia LP (a) 3,263 31,081 
Artis (REIT) 542 5,652 
ATCO Ltd. Class I (non-vtg.) 3,638 110,079 
Athabasca Oil Corp. (a) 19,008 22,503 
ATS Automation Tooling System, Inc. (a) 1,088 14,889 
AutoCanada, Inc. 246 4,181 
B2Gold Corp. (a) 44,296 127,304 
Badger Daylighting Ltd. 901 17,354 
Bank of Montreal 25,296 1,921,113 
Bank of Nova Scotia 49,728 3,056,609 
Barrick Gold Corp. 47,310 636,720 
Baytex Energy Corp. (a) 5,795 25,952 
BCE, Inc. 5,420 230,021 
Birchcliff Energy Ltd. 13,061 47,302 
Bird Construction, Inc. 502 3,394 
BlackBerry Ltd. (a) 20,305 212,547 
Boardwalk (REIT) 579 20,793 
Bombardier, Inc. Class B (sub. vtg.) (a) 84,898 262,506 
Bonavista Energy Corp. 5,185 6,381 
Bonterra Energy Corp. 213 2,621 
Boralex, Inc. Class A 3,344 59,772 
Brookfield Asset Management, Inc. Class A 34,128 1,352,680 
BRP, Inc. 2,924 118,285 
CAE, Inc. 12,968 245,129 
Cameco Corp. 16,019 168,680 
Canaccord Capital, Inc. 4,468 21,123 
Canacol Energy Ltd. (a) 1,213 4,053 
Canada Goose Holdings, Inc. (a) 2,145 79,622 
Canadian (REIT) 2,006 78,899 
Canadian Apartment Properties (REIT) unit 9,483 273,570 
Canadian Energy Services & Technology Corp. 8,231 40,323 
Canadian Imperial Bank of Commerce 17,531 1,526,922 
Canadian National Railway Co. 30,905 2,387,047 
Canadian Natural Resources Ltd. 45,840 1,653,732 
Canadian Pacific Railway Ltd. 5,928 1,081,671 
Canadian Tire Ltd. Class A (non-vtg.) 2,580 351,609 
Canadian Utilities Ltd. Class A (non-vtg.) 4,983 126,908 
Canadian Western Bank, Edmonton 2,948 78,226 
Canfor Corp. (a) 2,588 59,442 
Canfor Pulp Products, Inc. 673 9,461 
Capital Power Corp. 3,929 74,605 
Cara Operations Ltd. 231 4,807 
Cardinal Energy Ltd. 630 2,542 
Cascades, Inc. 4,191 39,986 
CCL Industries, Inc. Class B 5,765 279,640 
Celestica, Inc. (sub. vtg.) (a) 5,518 63,520 
Cenovus Energy, Inc. 44,207 442,776 
Centerra Gold, Inc. (a) 7,619 46,523 
CGI Group, Inc. Class A (sub. vtg.) (a) 10,296 596,614 
China Gold International Resources Corp. Ltd. (a) 4,402 8,948 
Choice Properties REIT 383 3,410 
CI Financial Corp. 12,048 253,543 
Cineplex, Inc. 2,471 57,755 
Clearwater Seafoods, Inc. 190 783 
Cogeco Communications, Inc. 956 50,937 
Cogeco, Inc. (sub. vtg.) 155 7,943 
Colliers International Group, Inc. 1,875 127,356 
Cominar (REIT) 7,491 73,104 
Computer Modelling Group Ltd. 610 4,485 
Constellation Software, Inc. 871 622,498 
Corby Spirit and Wine Ltd. 368 5,701 
Corus Entertainment, Inc. Class B (non-vtg.) 8,530 42,519 
Cott Corp. 7,684 109,878 
Crescent Point Energy Corp. 23,086 202,280 
Crew Energy, Inc. (a) 814 1,655 
Crombie (REIT) 448 4,337 
CT Real Estate Investment Trust 401 4,091 
Descartes Systems Group, Inc. (Canada) (a) 5,666 167,471 
Detour Gold Corp. (a) 10,912 78,869 
Dirtt Environmental Solutions Ltd. (a) 675 2,960 
Dollarama, Inc. 4,355 501,319 
Dorel Industries, Inc. Class B (sub. vtg.) 1,245 26,908 
Dream Global REIT 18,523 197,500 
Dream Industrial (REIT) 1,039 8,149 
Dream Office (REIT) 386 7,149 
DREAM Unlimited Corp. (a) 489 3,645 
ECN Capital Corp. 29,196 77,313 
Eldorado Gold Corp. (a) 19,961 18,967 
Element Financial Corp. 15,624 59,018 
Emera, Inc. 4,895 152,460 
Empire Co. Ltd. Class A (non-vtg.) 9,793 189,384 
Enbridge Income Fund Holdings, Inc. 9,847 210,599 
Enbridge, Inc. 68,970 2,089,056 
Encana Corp. 42,037 523,519 
Endeavour Silver Corp. (a) 544 1,632 
EnerCare, Inc. 13,325 180,164 
Enerflex Ltd. 7,164 87,545 
Enerplus Corp. 14,196 164,742 
Enghouse Systems Ltd. 2,178 112,942 
Ensign Energy Services, Inc. 1,901 9,106 
Entertainment One Ltd. 24,559 92,573 
Equitable Group, Inc. 333 15,022 
Evertz Technologies Ltd. 415 5,734 
Exco Technologies Ltd. 580 4,404 
Extendicare, Inc. 834 5,411 
Fairfax Financial Holdings Ltd. (sub. vtg.) 1,169 647,191 
Fiera Capital Corp. 751 6,621 
Finning International, Inc. 9,929 250,477 
First Capital Realty, Inc. 4,091 63,948 
First Majestic Silver Corp. (a) 8,355 54,271 
First National Financial Corp. 813 16,812 
First Quantum Minerals Ltd. 29,225 421,093 
FirstService Corp. 3,415 239,378 
Fortis, Inc. 16,029 538,066 
Fortuna Mines, Inc. (a) 8,792 49,919 
Franco-Nevada Corp. 7,627 540,980 
Freehold Royalties Ltd. 4,398 44,564 
Genworth MI Canada, Inc. 1,217 39,336 
George Weston Ltd. 1,834 150,254 
Gibson Energy, Inc. 4,417 57,004 
Gildan Activewear, Inc. 10,339 301,163 
Gluskin Sheff + Associates, Inc. 432 5,225 
Goldcorp, Inc. 36,490 484,279 
Granite Real Estate Investment Trust 188 7,396 
Great Canadian Gaming Corp. (a) 1,984 56,617 
Great-West Lifeco, Inc. 9,915 264,333 
Guyana Goldfields, Inc. (a) 10,438 40,485 
H&R REIT/H&R Finance Trust 4,454 71,530 
High Liner Foods, Inc. 110 942 
Home Capital Group, Inc. (a) 1,485 16,643 
HudBay Minerals, Inc. 11,872 82,941 
Hudson's Bay Co. 1,594 11,273 
Husky Energy, Inc. 17,491 244,666 
Hydro One Ltd. (c) 10,509 166,890 
IAMGOLD Corp. (a) 21,764 118,995 
IGM Financial, Inc. 5,756 176,677 
Imperial Oil Ltd. 13,483 419,312 
Industrial Alliance Insurance and Financial Services, Inc. 6,736 282,934 
Innergex Renewable Energy, Inc. 6,435 67,861 
Intact Financial Corp. 6,394 487,537 
Inter Pipeline Ltd. 17,242 310,878 
Interfor Corp. (a) 5,374 100,494 
InterRent REIT 1,343 10,523 
Intertape Polymer Group, Inc. 4,330 67,279 
Ivanhoe Mines Ltd. (a) 28,271 58,350 
Jean Coutu Group, Inc. Class A (sub. vtg.) 2,487 47,631 
Just Energy Group, Inc. 1,772 7,411 
Kelt Exploration Ltd. (a) 2,389 15,109 
Keyera Corp. 10,062 270,917 
Killam Apartment (REIT) 785 8,670 
Kinaxis, Inc. (a) 620 40,075 
Kinder Morgan Canada Ltd. (c) 7,909 102,070 
Kinross Gold Corp. (a) 54,091 209,379 
Kirkland Lake Gold Ltd. 7,412 129,311 
Klondex Mines Ltd. (a) 5,562 13,602 
Knight Therapeutics, Inc. (a) 1,049 6,422 
Labrador Iron Ore Royalty Corp. 2,030 34,546 
Laurentian Bank of Canada 1,297 49,811 
Linamar Corp. 2,097 117,512 
Loblaw Companies Ltd. 8,494 431,994 
Lucara Diamond Corp. 4,561 7,211 
Lundin Mining Corp. 25,474 168,643 
MAG Silver Corp. (a) 6,403 71,164 
Magellan Aerospace Corp. 282 4,252 
Magna International, Inc. Class A (sub. vtg.) 13,784 814,082 
Major Drilling Group International, Inc. (a) 567 2,835 
Manulife Financial Corp. 79,837 1,506,640 
Maple Leaf Foods, Inc. 2,809 67,712 
Martinrea International, Inc. 4,456 53,169 
Maxar Technologies Ltd. 2,588 117,110 
Medical Facilities Corp. 378 4,154 
MEG Energy Corp. (a) 6,819 35,265 
Methanex Corp. 3,684 222,053 
Metro, Inc. Class A (sub. vtg.) 9,128 289,633 
Morguard (REIT) 354 3,670 
Morneau Shephell, Inc. 611 12,073 
MTY Food Group, Inc. 2,830 101,611 
Mullen Group Ltd. 2,476 28,059 
National Bank of Canada 13,171 625,544 
Nevsun Resources Ltd. 11,969 33,373 
New Flyer Industries, Inc. 2,635 121,022 
New Gold, Inc. (a) 29,054 68,112 
NexGen Energy Ltd. (a)(b) 8,877 17,699 
Norbord, Inc. 2,053 84,777 
North West Co., Inc. 777 16,709 
Northland Power, Inc. 5,551 100,086 
Northview Apartmemt (REIT) 252 5,007 
Northwest Healthcare Properties REIT 930 8,112 
Novagold Resources, Inc. (a) 7,992 38,343 
Nutrien Ltd. 26,918 1,225,404 
NuVista Energy Ltd. (a) 14,019 92,044 
OceanaGold Corp. 30,416 81,965 
Onex Corp. (sub. vtg.) 3,658 270,942 
Open Text Corp. 10,880 384,120 
Osisko Gold Royalties Ltd. 3,247 31,687 
Osisko Mining, Inc. (a) 4,512 9,348 
Painted Pony Petroleum Ltd. (a) 562 1,226 
Pan American Silver Corp. 10,160 163,779 
Paramount Resources Ltd. Class A (a) 2,068 29,523 
Parex Resources, Inc. (a) 5,333 91,753 
Parkland Fuel Corp. 8,546 198,416 
Pason Systems, Inc. 1,092 15,266 
Pembina Pipeline Corp. 21,238 676,367 
Pengrowth Energy Corp. (a) 11,159 9,995 
Peyto Exploration & Development Corp. 6,397 60,485 
Power Corp. of Canada (sub. vtg.) 13,583 322,768 
Power Financial Corp. 9,669 250,847 
PrairieSky Royalty Ltd. 7,732 171,448 
Precision Drilling Corp. (a) 18,987 67,729 
Premier Gold Mines Ltd. (a) 3,779 8,006 
Premium Brands Holdings Corp. 1,621 152,271 
Pretium Resources, Inc. (a) 7,604 51,169 
ProMetic Life Sciences, Inc. (a) 22,496 13,842 
Pure Industrial Real Estate Trust 9,413 59,237 
Quebecor, Inc. Class B (sub. vtg.) 4,672 87,112 
Raging River Exploration, Inc. (a) 16,199 90,082 
Restaurant Brands International, Inc. 9,266 504,237 
RioCan (REIT) 6,181 112,408 
Ritchie Brothers Auctioneers, Inc. 4,917 160,690 
Rogers Communications, Inc. Class B (non-vtg.) 15,293 721,920 
Rogers Sugar, Inc. 1,976 9,234 
Royal Bank of Canada 60,021 4,564,391 
Russel Metals, Inc. 5,998 136,315 
Sandstorm Gold Ltd. (a) 11,208 51,852 
Saputo, Inc. 8,516 276,118 
Seabridge Gold, Inc. (a) 1,636 17,096 
Secure Energy Services, Inc. 12,279 77,273 
SEMAFO, Inc. (a) 9,283 28,776 
Seven Generations Energy Ltd. (a) 10,372 147,993 
Shaw Communications, Inc. Class B 19,214 394,920 
ShawCor Ltd. Class A 2,890 55,912 
Shopify, Inc. Class A (a) 3,591 481,084 
Sienna Senior Living, Inc. 823 11,179 
Sierra Wireless, Inc. (a) 582 10,081 
Silvercorp Metals, Inc. 5,014 13,668 
Sleep Country Canada Holdings, Inc. 1,260 34,602 
Smart (REIT) 798 17,900 
SNC-Lavalin Group, Inc. 7,491 328,415 
Spartan Energy Corp. (a) 8,124 40,242 
Spin Master Corp. (a)(c) 1,979 74,030 
Sprott, Inc. 1,346 3,564 
Ssr Mining, Inc. (a) 3,389 34,710 
Stantec, Inc. 6,406 163,000 
Stella-Jones, Inc. 1,695 61,426 
Stornoway Diamond Corp. (a) 2,225 1,005 
Student Transportation, Inc. 1,856 13,877 
Sun Life Financial, Inc. 25,181 1,039,443 
Suncor Energy, Inc. 68,592 2,623,052 
Superior Plus Corp. 5,946 57,610 
Surge Energy, Inc. 1,678 3,124 
Tahoe Resources, Inc. 17,454 87,953 
Teck Resources Ltd. Class B (sub. vtg.) 24,545 616,134 
TELUS Corp. 8,823 315,758 
The Stars Group, Inc. (a) 6,214 193,300 
The Toronto-Dominion Bank 76,597 4,301,888 
Thomson Reuters Corp. 11,756 472,730 
Timbercreek Financial Corp. 3,121 22,290 
TMAC Resources, Inc. (a) 1,050 6,158 
TMX Group Ltd. 3,213 193,788 
TORC Oil & Gas Ltd. 5,379 30,499 
Torex Gold Resources, Inc. (a) 4,469 45,945 
Toromont Industries Ltd. 3,132 137,165 
Total Energy Services, Inc. 409 4,339 
Tourmaline Oil Corp. 10,122 190,386 
TransAlta Corp. 7,976 41,994 
TransAlta Renewables, Inc. 1,995 17,807 
TransCanada Corp. 36,426 1,544,477 
Transcontinental, Inc. Class A 5,842 123,033 
TransForce, Inc. 3,468 100,398 
Trican Well Service Ltd. (a) 9,711 25,867 
Tricon Capital Group, Inc. 5,224 40,931 
Trinidad Drilling Ltd. (a) 1,286 1,863 
Turquoise Hill Resources Ltd. (a) 46,551 137,773 
Uni-Select, Inc. 1,404 21,728 
Uranium Participation Corp. (a) 1,297 3,919 
Valeant Pharmaceuticals International, Inc. (Canada) (a) 13,429 242,662 
Valener, Inc. 416 6,522 
Vermilion Energy, Inc. 4,041 136,594 
Wajax Corp. 186 3,428 
West Fraser Timber Co. Ltd. 2,950 199,822 
Western Forest Products, Inc. 16,341 35,254 
WestJet Airlines Ltd. 1,117 19,879 
Westshore Terminals Investment Corp. 1,607 27,748 
Wheaton Precious Metals Corp. 20,558 426,707 
Whitecap Resources, Inc. 25,516 184,819 
Winpak Ltd. 1,133 42,057 
WSP Global, Inc. 5,087 251,864 
Yamana Gold, Inc. 40,697 116,961 
TOTAL CANADA  67,061,683 
Cayman Islands - 4.3%   
21Vianet Group, Inc. ADR (a) 4,992 26,308 
3SBio, Inc. (c) 57,000 122,474 
500.com Ltd. sponsored ADR Class A (a) 1,268 23,141 
51job, Inc. sponsored ADR (a) 961 79,321 
58.com, Inc. ADR (a) 3,951 345,278 
AAC Technology Holdings, Inc. 31,500 452,112 
Agile Property Holdings Ltd. 72,000 142,027 
Airtac International Group 7,134 123,566 
Alibaba Group Holding Ltd. sponsored ADR (a)(b) 48,306 8,624,553 
Anta Sports Products Ltd. 49,000 279,604 
ASM Pacific Technology Ltd. 11,200 153,477 
Autohome, Inc. ADR Class A 2,270 221,439 
Baidu.com, Inc. sponsored ADR (a) 11,554 2,898,899 
Baozun, Inc. sponsored ADR (a)(b) 1,340 61,627 
Biostime International Holdings Ltd. (a) 10,500 75,415 
Bitauto Holdings Ltd. ADR (a)(b) 1,372 29,045 
BizLink Holding, Inc. 3,062 22,571 
Car, Inc. (a) 83,000 79,146 
Casetek Holdings 1,187 2,899 
Chailease Holding Co. Ltd. 58,000 211,251 
Changyou.com Ltd. (A Shares) ADR (b) 517 9,839 
Chaowei Power Holdings Ltd. 47,000 26,246 
Cheetah Mobile, Inc. ADR (a)(b) 1,994 26,740 
Cheung Kong Property Holdings Ltd. 110,000 949,626 
China All Access Holdings Ltd. 8,000 2,075 
China Aoyuan Property Group Ltd. 39,000 31,331 
China Conch Venture Holdings Ltd. 81,000 251,469 
China Dongxiang Group Co. Ltd. 229,000 41,917 
China First Capital Group Ltd. (a) 194,000 177,127 
China Goldjoy Group Ltd. 248,000 16,265 
China Harmony New Energy Auto (a) 27,000 15,186 
China High Speed Transmission Equipment Group Co. Ltd. 22,000 32,044 
China Huishan Dairy Holdings Co. Ltd. (a)(d) 51,000 1,365 
China Investment Fund International Holdings Co. Ltd. (a) 48,000 50,354 
China Liansu Group Holdings Ltd. 63,000 48,556 
China LNG Group Ltd. (a) 60,000 8,401 
China Logistics Property Holdings Co. Ltd. (a) 109,000 38,555 
China Maple Leaf Educational Systems Ltd. 18,000 24,942 
China Medical System Holdings Ltd. 53,000 129,785 
China Mengniu Dairy Co. Ltd. 113,000 364,288 
China Modern Dairy Holdings Ltd. (a) 65,000 11,024 
China Regenerative Medicine International Ltd. (a) 75,000 1,423 
China Resources Land Ltd. 122,000 458,199 
China Resources Phoenix Health 29,500 38,558 
China SCE Property Holdings Ltd. 114,000 57,207 
China Shengmu Organic Milk Ltd. (a)(c) 136,000 15,851 
China State Construction International Holdings Ltd. 69,750 90,714 
China Wireless Technologies Ltd. (a)(d) 8,000 734 
China ZhengTong Auto Services Holdings Ltd. 68,000 54,987 
ChinaSoft International Ltd. 88,000 64,672 
Chong Sing Holdings Fintech Group (a) 556,000 72,737 
CIFI Holdings Group Co. Ltd. 150,000 118,117 
Cimc Enric Holdings Ltd. 12,000 12,413 
CK Hutchison Holdings Ltd. 113,500 1,342,121 
COFCO Meat Holdings Ltd. (a) 92,000 14,253 
Cogobuy Group (c) 5,000 2,418 
Country Garden Holdings Co. Ltd. 223,000 454,712 
CT Environmental Group Ltd. 26,000 3,956 
Ctrip.com International Ltd. ADR (a) 16,727 684,134 
eHi Car Service Co. Ltd. sponsored ADR (a) 203 2,653 
Endeavour Mining Corp. (a) 3,650 62,286 
ENN Energy Holdings Ltd. 32,000 299,249 
Evergrande Real Estate Group Ltd. (a) 138,190 437,727 
Fang Holdings Ltd. ADR (a)(b) 8,426 42,130 
Far East Consortium International Ltd. 91,242 52,107 
FIH Mobile Ltd. 298,000 51,090 
Freeman Fintech Corp. Ltd. (a) 320,000 47,466 
Fu Shou Yuan International Group Ltd. (c) 18,000 17,170 
Fufeng Group Ltd. 43,000 23,962 
Fullshare Holdings Ltd. 287,500 156,772 
Future Land Development Holding Ltd. 84,000 69,558 
GCL-Poly Energy Holdings Ltd. (a) 629,000 77,804 
GDS Holdings Ltd. ADR (a)(b) 3,443 100,432 
Geely Automobile Holdings Ltd. 210,000 552,307 
General Interface Solution Holding Ltd. 5,000 29,877 
Genscript Biotech Corp. 30,000 100,006 
Ginko International Co. Ltd. 1,000 8,386 
Glorious Property Holdings Ltd. (a) 16,000 1,296 
Golden Eagle Retail Group Ltd. (H Shares) 5,000 5,744 
Goodbaby International Holdings Ltd. 56,000 35,545 
Gourmet Master Co. Ltd. 5,100 58,660 
Greatview Aseptic Pack Co. Ltd. 75,000 49,707 
Greentown China Holdings Ltd. 24,500 32,287 
Haitian International Holdings Ltd. 21,000 55,887 
HC International, Inc. 4,000 2,696 
Hengan International Group Co. Ltd. 28,500 253,460 
HKBN Ltd. 65,000 91,009 
Hopewell Highway Infrastructure Ltd. 21,500 13,085 
Huayi Tencent Entertainment Co. Ltd. (a) 440,000 25,310 
Hutchison China Meditech Ltd. (a) 1,043 68,876 
Hutchison Telecommunications Hong Kong Holdings Ltd. 76,000 27,935 
IGG, Inc. 36,000 54,140 
iKang Healthcare Group, Inc. sponsored ADR (a) 4,529 90,263 
Imax China Holding, Inc. (c) 1,700 5,642 
JD.com, Inc. sponsored ADR (a) 27,383 999,753 
Jiayuan International Group Ltd. 76,000 141,018 
JinkoSolar Holdings Co. Ltd. ADR (a) 1,902 34,959 
Kaisa Group Holdings Ltd. (a) 90,000 48,077 
Kingboard Chemical Holdings Ltd. 30,500 124,083 
Kingboard Laminates Holdings Ltd. 66,500 88,637 
Kingdee International Software Group Co. Ltd. 102,000 99,017 
Kingsoft Corp. Ltd. 45,000 133,622 
KWG Property Holding Ltd. 53,123 71,559 
Lee & Man Paper Manufacturing Ltd. 50,000 55,074 
Leyou Technologies Holdings Ltd. (a) 95,000 24,282 
Li Ning Co. Ltd. (a) 53,000 59,676 
Lifetech Scientific Corp. (a) 140,000 42,593 
Lijun International Pharmaceutical Holding Ltd. 108,000 109,127 
Longfor Properties Co. Ltd. 59,500 177,949 
Lonking Holdings Ltd. 89,000 40,444 
Macau Legend Development Ltd. (a)(c) 9,000 1,427 
Meitu, Inc. (a)(c) 40,500 42,710 
Melco Crown Entertainment Ltd. sponsored ADR 9,944 310,352 
MGM China Holdings Ltd. 51,600 141,506 
Minth Group Ltd. 34,000 161,436 
Momo, Inc. ADR (a) 4,480 156,352 
NetDragon WebSoft, Inc. 4,500 10,846 
NetEase, Inc. ADR 3,317 852,701 
New Oriental Education & Technology Group, Inc. sponsored ADR 5,812 522,150 
Nexteer Auto Group Ltd. 29,000 44,619 
Noah Holdings Ltd. sponsored ADR (a)(b) 1,318 68,101 
OP Financial Investments Ltd. 112,000 44,684 
Pacific Textile Holdings Ltd. 56,000 51,230 
Parade Technologies Ltd. 5,000 77,287 
Phoenix Group Holdings 18,592 201,437 
Powerlong Real Estate Holding Ltd. 90,000 46,408 
Q Technology (Group) Co. Ltd. 11,000 13,393 
Regina Miracle International Holdings Ltd. 2,000 1,716 
Renhe Commercial Holdings Co. Ltd. (a) 966,000 19,480 
Ronshine China Holdings Ltd. (a) 39,000 57,851 
Sands China Ltd. 97,200 561,756 
Semiconductor Manufacturing International Corp. (a) 110,100 141,599 
Shenzhou International Group Holdings Ltd. 32,000 349,320 
Shimao Property Holdings Ltd. 55,500 146,801 
Shui On Land Ltd. 152,000 40,928 
Silergy Corp. 4,000 83,500 
SINA Corp. (a) 2,383 227,672 
Sino Biopharmaceutical Ltd. 184,000 387,469 
SITC International Holdings Co. Ltd. 52,000 55,403 
SOHO China Ltd. 96,500 49,551 
Sunac China Holdings Ltd. 102,000 433,268 
Sunny Optical Technology Group Co. Ltd. 30,100 491,161 
TAL Education Group ADR 13,499 491,634 
Tarena International, Inc. ADR (b) 541 5,470 
Tencent Holdings Ltd. 238,725 11,736,401 
Texhong Textile Group Ltd. 1,500 2,090 
The United Laboratories International Holdings Ltd. (a) 40,000 43,394 
Tianneng Power International Ltd. 12,000 17,315 
Tibet Water Resources Ltd. (a) 157,000 67,619 
Tingyi (Cayman Islands) Holding Corp. 78,000 146,843 
Tongda Group Holdings Ltd. 100,000 22,148 
Towngas China Co. Ltd. 81,421 72,559 
TPK Holding Co. Ltd. (a) 9,000 19,595 
Truly International Holdings Ltd. 70,000 15,906 
Tuniu Corp. Class A sponsored ADR (a)(b) 220 1,364 
Value Partners Group Ltd. 32,000 30,269 
Vinda International Holdings Ltd. 26,000 44,947 
Vipshop Holdings Ltd. ADR (a) 16,334 252,850 
Vision Fame International Holding Ltd. (a) 10,000 283 
Want Want China Holdings Ltd. 213,000 188,222 
Weibo Corp. sponsored ADR (a)(b) 2,071 237,171 
WH Group Ltd. (c) 377,500 390,817 
Wharf Real Estate Investment Co. Ltd. 47,000 352,394 
Wynn Macau Ltd. 62,800 232,069 
Xingda International Holdings Ltd. 12,674 4,527 
Xinyi Glass Holdings Ltd. 86,000 123,634 
Xinyi Solar Holdings Ltd. 149,200 67,983 
XTEP International Holdings Ltd. 46,500 27,015 
Yeong Guan Energy Technology Group Co. Ltd. 1,000 2,717 
Yihai International Holding Ltd. 25,000 34,151 
Yirendai Ltd. sponsored ADR (b) 475 16,753 
Yuzhou Properties Co. 59,000 42,918 
YY, Inc. ADR (a) 1,989 191,720 
Zhen Ding Technology Holding Ltd. 47,000 102,089 
Zhongsheng Group Holdings Ltd. Class H 41,000 117,534 
Zhou Hei Ya International Holdings Co. Ltd. 27,000 23,712 
TOTAL CAYMAN ISLANDS  45,891,115 
Chile - 0.3%   
AES Gener SA 171,111 47,983 
Aguas Andinas SA 126,713 84,286 
Banco de Chile 854,252 141,127 
Banco de Credito e Inversiones 1,714 129,729 
Banco Santander Chile 3,040,447 253,800 
CAP SA 1,737 20,135 
Cencosud SA 55,231 164,236 
Colbun SA 367,700 91,421 
Compania Cervecerias Unidas SA 5,132 71,091 
Compania de Petroleos de Chile SA (COPEC) 15,088 245,989 
Compania Sud Americana de Vapores SA (a) 953,281 42,678 
CorpBanca SA 5,823,430 59,529 
E-CL SA 28,960 62,490 
Empresa Nacional de Electricidad SA 128,609 102,219 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 7,797 92,022 
Empresas CMPC SA 52,472 215,411 
Enel Chile SA 1,008,736 125,007 
Enersis SA 1,077,071 245,842 
Forus SA 3,734 14,002 
Inversiones Aguas Metropolitanas SA 6,282 11,840 
Inversiones La Construccion SA 1,901 37,657 
LATAM Airlines Group SA 14,348 220,100 
Parque Arauco SA 28,812 89,908 
Ripley Corp. SA 21,855 23,695 
S.A.C.I. Falabella 29,148 282,707 
Salfacorp SA 18,503 35,446 
Sonda SA 38,859 71,590 
Vina Concha y Toro SA 11,812 26,961 
TOTAL CHILE  3,008,901 
China - 2.2%   
Agricultural Bank of China Ltd. (H Shares) 1,070,000 603,279 
Air China Ltd. (H Shares) 86,000 113,374 
Aluminum Corp. of China Ltd. (H Shares) (a) 144,000 81,329 
Anhui Conch Cement Co. Ltd. (H Shares) 50,500 315,195 
Anhui Expressway Co. Ltd. (H Shares) 2,000 1,479 
AviChina Industry & Technology Co. Ltd. (H Shares) 132,000 83,226 
Bank Communications Co. Ltd. (H Shares) 379,000 310,130 
Bank of China Ltd. (H Shares) 3,304,000 1,793,514 
Beijing Capital International Airport Co. Ltd. (H Shares) 70,000 95,338 
Beijing Capital Land Ltd. (H Shares) 74,000 39,410 
BYD Co. Ltd. (H Shares) 27,000 188,759 
CGN Power Co. Ltd. (H Shares) (c) 347,000 94,628 
China BlueChemical Ltd. (H Shares) 28,000 7,359 
China Cinda Asset Management Co. Ltd. (H Shares) 452,000 161,322 
China CITIC Bank Corp. Ltd. (H Shares) 376,000 268,783 
China Communications Construction Co. Ltd. (H Shares) 174,000 200,479 
China Communications Services Corp. Ltd. (H Shares) 142,000 89,150 
China Construction Bank Corp. (H Shares) 3,515,000 3,682,522 
China Everbright Bank Co. Ltd. (H Shares) 119,000 59,469 
China Galaxy Securities Co. Ltd. (H Shares) 145,000 95,241 
China Huarong Asset Management Co. Ltd. 456,000 157,050 
China Life Insurance Co. Ltd. (H Shares) 307,000 870,640 
China Longyuan Power Grid Corp. Ltd. (H Shares) 161,000 158,137 
China Merchants Bank Co. Ltd. (H Shares) 161,000 702,024 
China Minsheng Banking Corp. Ltd. (H Shares) 230,000 215,234 
China Molybdenum Co. Ltd. (H Shares) 168,000 126,247 
China National Building Materials Co. Ltd. (H Shares) 173,350 202,524 
China Oilfield Services Ltd. (H Shares) 86,000 85,802 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 111,400 491,572 
China Petroleum & Chemical Corp. (H Shares) 1,062,000 1,034,239 
China Railway Construction Corp. Ltd. (H Shares) 116,500 137,963 
China Railway Group Ltd. (H Shares) 168,000 134,657 
China Shenhua Energy Co. Ltd. (H Shares) 145,000 355,664 
China Southern Airlines Ltd. (H Shares) 108,000 116,290 
China Telecom Corp. Ltd. (H Shares) 530,000 256,908 
China Vanke Co. Ltd. (H Shares) 48,900 202,096 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 103,000 78,792 
CITIC Securities Co. Ltd. (H Shares) 96,500 235,241 
CRRC Corp. Ltd. (H Shares) 166,000 146,724 
Dongfeng Motor Group Co. Ltd. (H Shares) 132,000 145,970 
Fuyao Glass Industries Group Co. Ltd. 36,000 123,735 
GF Securities Co. Ltd. (H Shares) 55,400 97,537 
Great Wall Motor Co. Ltd. (H Shares) 130,000 134,836 
Guangdong Kelon Electrical Holdings Ltd. Series H 9,000 9,140 
Guangzhou Automobile Group Co. Ltd. (H Shares) 94,000 172,181 
Guangzhou R&F Properties Co. Ltd. (H Shares) 40,400 96,055 
Haitong Securities Co. Ltd. (H Shares) 277,600 379,038 
Huadian Fuxin Energy Corp. Ltd. (H Shares) 292,000 82,866 
Huaneng Power International, Inc. (H Shares) 254,000 167,869 
Huaneng Renewables Corp. Ltd. (H Shares) 186,000 82,603 
Huatai Securities Co. Ltd. (H Shares) (c) 71,800 145,437 
Industrial & Commercial Bank of China Ltd. (H Shares) 3,081,000 2,704,753 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 11,500 14,904 
Jiangsu Expressway Co. Ltd. (H Shares) 56,000 76,783 
Jiangxi Copper Co. Ltd. (H Shares) 42,000 59,711 
Livzon Pharmaceutical Group, Inc. Class H 9,050 65,187 
Luoyang Glass Co. Ltd. Class H (a) 4,000 1,941 
New China Life Insurance Co. Ltd. (H Shares) 35,100 163,650 
People's Insurance Co. of China Group (H Shares) 321,000 151,122 
PetroChina Co. Ltd. (H Shares) 856,000 630,760 
PICC Property & Casualty Co. Ltd. (H Shares) 190,000 340,132 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 217,500 2,125,279 
Qingdao Port International Co. Ltd. (c) 84,000 69,012 
Shandong Chenming Paper Holdings Ltd. (H Shares) 36,500 55,422 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 160,000 98,326 
Shanghai Electric Group Co. Ltd. (H Shares) (a) 66,000 23,962 
Shanghai Environment Group Co. Ltd. 239 671 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 21,500 116,623 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 11,080 15,848 
Shanghai Pharma Holding Co. Ltd. (H Shares) 53,000 144,673 
Shanghai SMI Holding Co. Ltd. Class A (a) 861 1,004 
Shenzhen Expressway Co. (H Shares) 18,000 18,266 
Sichuan Expressway Co. Ltd. (H Shares) 4,000 1,381 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 234,000 155,378 
Sinopharm Group Co. Ltd. (H Shares) 52,000 219,270 
Sinotrans Ltd. (H Shares) 123,000 70,474 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 41,000 65,909 
TravelSky Technology Ltd. (H Shares) 43,000 125,604 
Tsingtao Brewery Co. Ltd. (H Shares) 24,000 124,258 
Weichai Power Co. Ltd. (H Shares) 82,000 94,927 
Xinhua Winshare Publishing and Media Co. Ltd. 2,000 1,561 
Yangtze Optical Fibre and Cable Co. Ltd. 9,000 38,102 
Yanzhou Coal Mining Co. Ltd. (H Shares) 84,000 105,111 
YiChang HEC ChangJiang Pharmaceutical Co. Ltd. 7,600 36,090 
Zhaojin Mining Industry Co. Ltd. (H Shares) 12,000 9,394 
Zhejiang Expressway Co. Ltd. (H Shares) 82,000 84,207 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 25,400 134,668 
Zijin Mng Group Co. Ltd. (H Shares) 366,000 166,017 
ZTE Corp. (H Shares) (d) 22,800 51,521 
TOTAL CHINA  23,990,958 
Colombia - 0.1%   
Almacenes Exito SA 14,313 86,420 
Bancolombia SA 21,565 254,884 
Cementos Argos SA 27,656 97,767 
Corporacion Financiera Colombiana SA 2,051 17,641 
Ecopetrol SA 192,597 212,553 
Grupo de Inversiones Suramerica SA (a) 7,349 101,982 
Interconexion Electrica SA ESP 14,282 73,623 
Inversiones Argos SA 10,667 75,950 
TOTAL COLOMBIA  920,820 
Curacao - 0.0%   
Sapiens International Corp. NV 128 1,143 
Czech Republic - 0.1%   
Ceske Energeticke Zavody A/S 7,957 203,481 
Komercni Banka A/S 5,475 236,364 
MONETA Money Bank A/S (c) 21,525 77,490 
Philip Morris CR A/S 2,299 
Telefonica Czech Rep A/S 636 8,702 
TOTAL CZECH REPUBLIC  528,336 
Denmark - 1.2%   
A.P. Moller - Maersk A/S:   
Series A 214 328,300 
Series B 221 356,626 
ALK-Abello A/S (a) 637 80,945 
Alm. Brand A/S 2,452 25,992 
Ambu A/S Series B 6,030 140,348 
Bang & Olufsen A/S Series B (a) 1,191 29,497 
Bavarian Nordic A/S (a) 2,538 69,706 
Carlsberg A/S Series B 4,692 525,803 
Christian Hansen Holding A/S 4,169 379,215 
Coloplast A/S Series B 4,966 420,688 
Dampskibsselskabet NORDEN A/S (a) 849 15,563 
Danske Bank A/S 30,954 1,080,683 
Det Forenede Dampskibs-Selskab (DFDS) A/S 1,124 70,249 
DONG Energy A/S (c) 7,692 507,547 
DSV de Sammensluttede Vognmaend A/S 7,627 606,110 
FLSmidth & Co. A/S 2,145 132,948 
Genmab A/S (a) 2,494 506,100 
GN Store Nord A/S 5,940 209,306 
H Lundbeck A/S 2,649 154,139 
ISS Holdings A/S 6,143 215,065 
Jyske Bank A/S (Reg.) 3,590 215,818 
Matas A/S 555 6,405 
Nilfisk Holding A/S (a) 895 43,954 
NKT Holding A/S (a) 895 26,735 
NNIT A/S (c) 144 4,000 
Novo Nordisk A/S Series B 78,210 3,678,056 
Novozymes A/S Series B 9,048 425,372 
Pandora A/S 4,577 509,949 
Per Aarsleff Holding A/S 597 22,401 
Rockwool International A/S Series B 434 131,121 
Royal Unibrew A/S 3,095 205,675 
Scandinavian Tobacco Group A/S (c) 2,074 34,692 
Schouw & Co. 239 23,572 
SimCorp A/S 1,584 115,327 
Solar Holding A/S 506 32,641 
Spar Nord Bank A/S 3,353 38,423 
Sydbank A/S 2,122 78,693 
Topdanmark A/S 1,843 86,987 
Tryg A/S 8,891 211,117 
Vestas Wind Systems A/S 9,045 585,138 
William Demant Holding A/S (a) 4,491 175,572 
Zealand Pharma A/S (a) 117 1,767 
TOTAL DENMARK  12,508,245 
Egypt - 0.0%   
Commercial International Bank SAE 46,651 249,043 
Commercial International Bank SAE sponsored GDR 4,042 20,735 
EFG-Hermes Holding SAE 38,721 56,585 
Global Telecom Holding (a) 150,711 43,280 
Talaat Moustafa Group Holding 60,089 45,777 
TOTAL EGYPT  415,420 
Faroe Islands - 0.0%   
Bakkafrost 2,420 139,065 
Finland - 0.8%   
Amer Group PLC (A Shares) 4,498 137,967 
Atria PLC 200 2,855 
Cargotec Corp. (B Shares) 2,064 105,482 
Caverion Corp. (a) 2,301 19,270 
Citycon Oyj 28,504 65,366 
Cramo Oyj (B Shares) 1,158 27,241 
DNA Oyj 2,836 66,509 
Elisa Corp. (A Shares) 6,492 287,875 
F-Secure Oyj 5,468 24,465 
Finnair Oyj 1,883 25,763 
Fortum Corp. 17,779 410,290 
Huhtamaki Oyj 3,964 161,990 
KCI Konecranes Oyj 4,614 189,332 
Kemira Oyj 7,197 96,645 
Kesko Oyj 2,307 135,675 
Kone Oyj (B Shares) 13,885 691,828 
M-real OYJ (B Shares) 8,512 95,698 
Metso Corp. 5,962 213,039 
Neste Oyj 5,200 438,938 
Nokia Corp. 243,468 1,460,861 
Nokian Tyres PLC 4,599 184,662 
Oriola-KD Oyj 973 3,284 
Orion Oyj (B Shares) 4,494 136,651 
Outokumpu Oyj (A Shares) 13,806 89,696 
Outotec Oyj (a) 8,111 74,108 
Ramirent Oyj 2,531 22,098 
Sampo Oyj (A Shares) 17,922 968,507 
Sanoma Corp. 1,800 20,085 
Stora Enso Oyj (R Shares) 21,110 418,968 
Technopolis PLC 6,225 29,205 
TietoEnator Oyj 1,630 58,540 
Tikkurila Oyj 2,101 38,007 
UPM-Kymmene Corp. 21,513 771,060 
Uponor Oyj 2,335 40,858 
Valmet Corp. 7,960 151,493 
Wartsila Corp. 17,985 383,335 
YIT-Yhtyma OY 8,356 56,306 
TOTAL FINLAND  8,103,952 
France - 6.4%   
Accor SA 7,293 412,785 
Aeroports de Paris 1,217 268,064 
Air France KLM (Reg.) (a) 8,456 82,872 
Air Liquide SA 17,629 2,291,354 
Albioma 2,463 60,974 
ALD SA (c) 4,158 70,397 
Alstom SA 6,680 304,198 
Altamir 3,837 64,592 
ALTEN 1,609 159,911 
Altran Technologies SA 12,815 198,085 
Amundi SA (c) 2,337 198,906 
Arkema SA 2,957 387,440 
Atos Origin SA 3,787 511,739 
AXA SA 80,882 2,313,117 
Beneteau SA 896 20,299 
BIC SA 1,184 120,746 
bioMerieux SA 1,517 120,175 
BNP Paribas SA 46,485 3,591,536 
Boiron SA 91 8,121 
Bollore SA 34,121 169,680 
Bollore SA (a) 114 563 
Bonduelle SCA 885 39,436 
Bourbon Corp. (FR) 123 772 
Bouygues SA 9,337 476,384 
Bureau Veritas SA 11,443 299,172 
Capgemini SA 6,828 939,986 
Carbone Lorraine 628 29,577 
Carrefour SA 23,978 493,263 
Casino Guichard Perrachon SA 3,166 164,247 
Cellectis SA (a) 1,245 36,047 
CNP Assurances 7,161 183,676 
Coface SA 2,815 35,762 
Compagnie de St. Gobain 20,085 1,054,956 
Compagnie Plastic Omnium 2,073 99,734 
Credit Agricole SA 46,555 766,557 
Danone SA 24,401 1,976,623 
Dassault Aviation SA 104 207,852 
Dassault Systemes SA 5,277 683,451 
DBV Technologies SA (a) 575 25,603 
Derichebourg 8,793 77,886 
Devoteam SA 336 35,869 
Direct Energie 171 8,735 
Edenred SA 9,360 322,139 
EDF SA 23,605 332,088 
Eiffage SA 3,187 379,859 
Elior SA 4,725 96,601 
Elis SA 6,172 147,725 
ENGIE 74,770 1,313,752 
Eramet SA 371 64,560 
Essilor International SA 8,525 1,163,826 
Etablissements Maurel & Prom (a) 1,764 10,161 
Eurazeo SA 2,191 192,618 
Europcar Groupe SA (c) 6,506 75,974 
Eutelsat Communications 7,968 172,621 
Faurecia SA 3,284 268,878 
Fonciere des Regions 1,582 177,001 
Fonciere Financiere et Part SA 45 5,445 
Gaztransport et Technigaz SA 1,527 94,690 
Gecina SA 1,844 319,771 
Genfit (a) 2,027 57,523 
Groupe Eurotunnel SA 19,928 281,320 
Groupe FNAC SA (a) 809 86,948 
Guerbet 96 6,086 
Hermes International SCA 1,248 807,496 
ICADE 1,598 158,914 
ID Logistics Group (a) 90 16,042 
Iliad SA 1,043 209,018 
Imerys SA 1,969 179,759 
Industrielle d'Aviation Latecoere SA (a) 2,438 15,839 
Ingenico SA 2,349 205,374 
Innate Pharma SA (a) 267 2,049 
Interparfums SA 946 43,696 
Ipsen SA 1,554 252,404 
Ipsos SA 1,876 71,362 
JCDecaux SA 3,321 118,789 
Kaufman & Broad SA 525 27,680 
Kering SA 3,157 1,828,424 
Klepierre SA 10,054 411,830 
Korian 1,340 46,927 
L'Oreal SA 10,426 2,503,609 
Lagardere S.C.A. (Reg.) 7,139 204,147 
Legrand SA 11,810 919,883 
LVMH Moet Hennessy - Louis Vuitton SA 11,606 4,039,029 
M6 Metropole Television SA 1,456 35,869 
Maisons du Monde SA (c) 3,400 138,285 
Marie Brizard Wine & Spirits SA (a) 69 666 
Mercialys SA 611 11,695 
Mgi Coutier SA 398 13,746 
Michelin CGDE Series B 7,205 1,014,073 
Natixis SA 35,887 295,213 
Naturex SA (a) 330 53,559 
Neopost SA 1,872 50,548 
Nexans SA 1,598 84,504 
Nexity 2,123 132,673 
Orange SA 81,126 1,474,841 
Orpea 2,018 259,168 
Pernod Ricard SA 8,628 1,433,157 
Peugeot Citroen SA 23,869 588,590 
Publicis Groupe SA 8,366 626,372 
Rallye SA 2,857 44,644 
Remy Cointreau SA 1,397 192,489 
Renault SA 8,002 868,143 
Rexel SA 13,116 203,530 
Rubis 3,651 284,377 
Safran SA 13,866 1,626,346 
Sanofi SA 47,552 3,759,572 
Sartorius Stedim Biotech 1,227 114,686 
Schneider Electric SA 23,222 2,111,069 
SCOR SE 7,815 317,568 
SEB SA 1,105 212,036 
Societe Generale Series A 31,712 1,735,559 
Sodexo SA 3,702 366,603 
Soitec SA (a) 756 61,624 
Solocal Group SA (a) 14,049 18,051 
Sopra Steria Group 487 104,035 
SPIE SA 3,549 80,273 
SR Teleperformance SA 2,537 407,163 
Suez Environnement SA 16,167 233,498 
Tarkett SA 1,239 36,627 
Technicolor SA 20,446 33,505 
Television Francaise 1 SA 1,024 12,799 
Thales SA 4,454 564,758 
The Lisi Group 665 24,573 
The Vicat Group 748 55,146 
Total SA 98,606 6,197,560 
Trigano SA 572 108,033 
Ubisoft Entertainment SA (a) 3,099 296,103 
Unibail-Rodamco 4,202 1,009,285 
Valeo SA 9,633 644,923 
Vallourec SA (a) 16,137 97,435 
Veolia Environnement SA 19,827 470,601 
VINCI SA 20,785 2,078,161 
Virbac SA (a) 278 43,374 
Vivendi SA 43,002 1,136,731 
Wendel SA 1,990 300,871 
Worldline SA (a)(c) 1,845 93,087 
TOTAL FRANCE  68,780,796 
Germany - 5.9%   
Aareal Bank AG 2,116 105,993 
adidas AG 7,907 1,946,938 
ADLER Real Estate AG 2,189 40,656 
ADVA Optical Networking SE (a) 851 5,878 
Aixtron AG (a) 5,391 77,178 
Allianz SE 18,127 4,287,469 
alstria office REIT-AG 3,893 58,577 
Amadeus Fire AG 1,455 159,365 
AURELIUS AG 1,111 84,322 
Aurubis AG 1,904 170,422 
Axel Springer Verlag AG 1,782 146,009 
BASF AG 37,876 3,940,751 
Bayer AG 34,571 4,131,912 
Bayerische Motoren Werke AG (BMW) 13,508 1,508,395 
BayWa AG 32 1,119 
Bechtle AG 880 74,654 
Beiersdorf AG 4,168 472,725 
Bertrandt AG 366 40,994 
Bilfinger Berger AG 2,584 123,569 
Borussia Dortmund GmbH & Co. KGaA 872 5,771 
Brenntag AG 7,351 421,838 
CANCOM AG 1,324 156,209 
Capital Stage AG 315 2,541 
Carl Zeiss Meditec AG 1,600 108,781 
CENTROTEC Sustainable AG 123 1,976 
CeWe Color Holding AG 417 42,753 
Comdirect Bank AG 2,144 32,882 
Commerzbank AG (a) 46,037 595,415 
CompuGroup Medical AG 1,498 78,221 
Continental AG 4,414 1,179,073 
Covestro AG (c) 6,550 597,663 
CTS Eventim AG 2,210 103,656 
Daimler AG (Germany) 39,903 3,156,240 
Deutsche Bank AG 85,571 1,174,512 
Deutsche Beteiligungs AG 642 28,608 
Deutsche Borse AG 7,982 1,073,492 
Deutsche EuroShop AG 1,688 60,745 
Deutsche Lufthansa AG 9,250 269,986 
Deutsche Pfandbriefbank AG 4,672 75,827 
Deutsche Post AG 39,154 1,699,458 
Deutsche Telekom AG 137,115 2,400,009 
Deutsche Wohnen AG (Bearer) 14,644 692,155 
Deutz AG 4,320 41,943 
DIC Asset AG 3,887 47,972 
Draegerwerk AG & Co. KGaA 391 24,081 
Drillisch AG 2,173 157,709 
Duerr AG 954 95,021 
E.ON AG 91,459 1,001,455 
ElringKlinger AG 491 8,930 
Evonik Industries AG 7,741 275,580 
Evotec OAI AG (a) 4,936 80,261 
Fraport AG Frankfurt Airport Services Worldwide 2,005 194,668 
Freenet AG 6,840 217,403 
Fresenius Medical Care AG & Co. KGaA 8,605 873,157 
Fresenius SE & Co. KGaA 17,195 1,315,235 
GEA Group AG 8,720 341,286 
Gerresheimer AG 1,290 105,308 
Gerry Weber International AG (Bearer) 514 4,910 
GFT Technologies AG 96 1,530 
Gildemeister AG 444 25,602 
Grammer AG 182 11,758 
Grenkeleasing AG 1,106 130,689 
Hamborner (REIT) AG 941 10,591 
Hamburger Hafen und Logistik AG 695 16,760 
Hannover Reuck SE 2,582 363,562 
Hapag-Lloyd AG (c) 1,740 74,804 
HeidelbergCement Finance AG 6,241 612,427 
Heidelberger Druckmaschinen AG (a) 8,478 31,615 
Henkel AG & Co. KGaA 5,694 679,012 
Hochtief AG 848 155,245 
Hugo Boss AG 2,714 254,984 
Hypoport AG (a) 95 18,356 
INDUS Holding AG 2,205 158,168 
Infineon Technologies AG 47,672 1,220,676 
Innogy SE (c) 5,772 254,624 
Isra Vision AG 142 31,449 
Jenoptik AG 2,582 94,164 
JOST Werke AG (c) 1,747 73,733 
K&S AG 7,710 227,272 
KION Group AG 2,882 241,185 
Kloeckner & Co. AG 1,682 20,515 
Koenig & Bauer AG 443 36,431 
Krones AG 1,018 130,801 
KWS Saat AG 159 57,507 
Lanxess AG 4,110 305,537 
LEG Immobilien AG 2,424 279,667 
LEONI AG 1,042 65,508 
Linde AG 4,173 927,486 
Linde AG 3,533 762,841 
MAN SE 1,147 132,279 
Merck KGaA 5,107 500,901 
Metro AG 7,672 86,125 
Metro Wholesale & Food Specialist AG 8,065 117,018 
Morphosys AG (a) 1,288 133,763 
MTU Aero Engines Holdings AG 2,120 366,096 
Muenchener Rueckversicherungs AG 6,350 1,456,586 
Nemetschek Se 881 106,177 
Nordex Se (a) 3,712 42,674 
NORMA Group AG 1,946 143,232 
Open Business Club AG 308 95,775 
OSRAM Licht AG 4,788 276,206 
Patrizia Immobilien AG 1,942 38,883 
Pfeiffer Vacuum Technology AG 438 64,847 
ProSiebenSat.1 Media AG 9,268 336,225 
Rational AG 109 68,381 
Rheinmetall AG 1,629 213,734 
Rhoen-Klinikum AG 1,417 46,373 
RIB Software AG 1,289 34,214 
Rocket Internet AG (a)(c) 3,491 102,358 
RWE AG 21,399 513,598 
Salzgitter AG 1,973 108,575 
SAP SE 40,895 4,543,667 
Schaeffler AG 8,469 131,572 
Scout24 AG (c) 3,622 187,816 
SGL Carbon AG (a) 4,281 57,746 
Siemens AG 31,471 3,996,656 
Siemens Healthineers AG (a)(c) 6,295 245,425 
Siltronic AG 956 154,352 
Sixt AG 641 75,666 
SLM Solutions Group AG (a) 214 8,657 
SMA Solar Technology AG 508 31,379 
Software AG (Bearer) 1,794 88,521 
Stada Arzneimittel AG 1,016 102,865 
STRATEC Biomedical Systems AG 452 41,211 
Stroer Out-of-Home Media AG 1,286 94,343 
Suedzucker AG (Bearer) 2,957 49,242 
SURTECO SE 60 1,924 
Symrise AG 5,708 462,519 
TAG Immobilien AG 6,316 133,400 
Takkt AG 3,255 67,373 
Telefonica Deutschland Holding AG 28,476 136,209 
Thyssenkrupp AG 17,518 456,942 
TLG Immobilien AG 4,568 131,509 
TUI AG (GB) 17,832 403,959 
Uniper SE 8,224 254,937 
United Internet AG 4,775 310,111 
Volkswagen AG 802 163,287 
Vonovia SE 19,899 999,890 
Vossloh AG 228 11,564 
VTG AG 485 27,820 
Wacker Chemie AG 681 122,945 
Wacker Construction Equipment AG 1,721 55,532 
WashTec AG 1,456 140,485 
Wirecard AG 4,852 662,684 
Wustenrot & Wurttembergische AG 727 17,559 
Zalando SE (a)(c) 4,689 242,069 
Zooplus AG (a) 285 59,197 
TOTAL GERMANY  63,049,208 
Gibraltar - 0.0%   
888 Holdings PLC 26,779 100,941 
Greece - 0.1%   
Aegean Airlines SA 3,180 35,906 
Alpha Bank AE (a) 55,018 145,503 
Athens Water Supply & Sewage Co. SA 2,077 14,924 
EFG Eurobank Ergasias SA (a) 83,144 105,325 
Ff Group (a) 881 16,703 
Greek Organization of Football Prognostics SA 10,412 124,855 
Grivalia Properties REIC 251 2,764 
Hellenic Exchanges Holding SA 387 2,430 
Hellenic Petroleum SA 969 9,888 
Hellenic Telecommunications Organization SA 9,546 138,909 
Holding Co. ADMIE IPTO SA 446 996 
Jumbo SA 4,974 91,060 
Motor Oil (HELLAS) Corinth Refineries SA 2,470 58,999 
Mytilineos Holdings SA 4,722 57,023 
National Bank of Greece SA (a) 233,552 97,585 
Piraeus Bank SA (a) 11,866 50,325 
Public Power Corp. of Greece (a) 8,918 29,443 
Titan Cement Co. SA (Reg.) 2,719 71,744 
TOTAL GREECE  1,054,382 
Hong Kong - 2.3%   
AIA Group Ltd. 505,600 4,518,648 
Bank of East Asia Ltd. 52,520 230,619 
Beijing Enterprises Holdings Ltd. 21,500 107,390 
Beijing Tong Ren Tang Chinese Medicine Co. Ltd. 2,000 3,422 
BOC Hong Kong (Holdings) Ltd. 150,000 775,429 
BYD Electronic International Co. Ltd. 33,000 50,319 
Champion (REIT) 69,000 48,746 
China Agri-Industries Holdings Ltd. 225,000 94,437 
China Everbright International Ltd. 83,000 116,420 
China Everbright Ltd. 124,000 272,870 
China Jinmao Holdings Group Ltd. 232,000 131,330 
China Merchants Holdings International Co. Ltd. 47,671 106,514 
China Minsheng Financial Holding Corp. Ltd. (a) 270,000 8,136 
China Mobile Ltd. 254,000 2,419,730 
China Overseas Grand Oceans Group Ltd. 106,500 46,231 
China Overseas Land and Investment Ltd. 156,000 522,699 
China Power International Development Ltd. 70,666 18,943 
China Resources Beer Holdings Co. Ltd. 64,666 278,512 
China Resources Pharmaceutical Group Ltd. 124,500 172,116 
China Resources Power Holdings Co. Ltd. 106,000 203,320 
China South City Holdings Ltd. 176,000 38,267 
China Taiping Insurance Group Ltd. 63,600 212,689 
China Travel International Investment HK Ltd. 158,000 58,910 
China Unicom Ltd. 254,000 359,168 
CITIC 1616 Holdings Ltd. 9,000 2,651 
CITIC Pacific Ltd. 265,000 404,125 
CLP Holdings Ltd. 63,000 654,197 
CNOOC Ltd. 732,000 1,238,334 
CSPC Pharmaceutical Group Ltd. 192,000 489,035 
Dah Sing Banking Group Ltd. 6,000 14,248 
Dah Sing Financial Holdings Ltd. 21,600 144,238 
Far East Horizon Ltd. 71,000 70,452 
Fosun International Ltd. 122,500 260,312 
Fushan International Energy Group Ltd. 94,000 23,043 
Galaxy Entertainment Group Ltd. 100,000 875,263 
Guangdong Investment Ltd. 114,000 176,453 
Guotai Junan International Holdings Ltd. 205,000 61,251 
GZI (REIT) 10,000 6,675 
Hang Lung Group Ltd. 44,000 132,903 
Hang Lung Properties Ltd. 101,000 239,024 
Hang Seng Bank Ltd. 31,400 795,359 
Henderson Land Development Co. Ltd. 44,500 282,155 
Hong Kong & China Gas Co. Ltd. 320,630 669,939 
Hong Kong Exchanges and Clearing Ltd. 49,478 1,602,817 
Hopewell Holdings Ltd. 35,000 124,156 
Hua Hong Semiconductor Ltd. (c) 16,000 36,104 
Hysan Development Co. Ltd. 37,000 215,346 
Lai Sun Development Co. Ltd. 7,800 12,051 
Lenovo Group Ltd. 360,000 170,920 
Link (REIT) 91,500 808,689 
Mason Financial Holdings Ltd. (a) 682,000 17,961 
Melco International Development Ltd. 35,000 129,582 
MMG Ltd. (a) 124,000 91,992 
MTR Corp. Ltd. 64,148 360,432 
New World Development Co. Ltd. 225,318 330,434 
PCCW Ltd. 177,000 109,413 
Poly Property Group Co. Ltd. 135,000 62,746 
Power Assets Holdings Ltd. 59,500 442,730 
Prosperity (REIT) 13,000 5,361 
Regal (REIT) 52,000 16,082 
Shanghai Industrial Holdings Ltd. 68,000 178,316 
Shenzhen Investment Ltd. 135,290 54,679 
Shun Tak Holdings Ltd. 22,000 9,055 
Sino Land Ltd. 156,632 270,374 
Sino-Ocean Group Holding Ltd. 103,000 71,519 
Sinotrans Shipping Ltd. 24,000 6,215 
Sinotruk Hong Kong Ltd. 21,000 24,604 
SJM Holdings Ltd. 62,000 62,101 
Sun Art Retail Group Ltd. 99,055 111,333 
Sun Hung Kai Properties Ltd. 61,000 982,371 
Sunlight (REIT) 13,000 8,798 
Swire Pacific Ltd. (A Shares) 21,500 212,448 
Swire Properties Ltd. 51,200 181,734 
Techtronic Industries Co. Ltd. 61,500 360,279 
Television Broadcasts Ltd. 35,100 111,392 
Universal Medical Financial & Technical Advisory Services Co. Ltd. 109,500 101,002 
Wharf Holdings Ltd. 47,000 156,362 
Wheelock and Co. Ltd. 29,000 215,157 
Winteam Pharmaceutical Group Ltd. 98,000 84,269 
Yuexiu Property Co. Ltd. 614,000 138,139 
TOTAL HONG KONG  25,211,485 
Hungary - 0.1%   
Magyar Telekom PLC 19,742 34,197 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 17,864 206,429 
OTP Bank PLC 9,300 406,312 
Richter Gedeon PLC 7,820 158,183 
TOTAL HUNGARY  805,121 
India - 2.3%   
ACC Ltd. 1,138 27,113 
Adani Enterprises Ltd. (a) 7,611 15,919 
Adani Green Energy Ltd. (a)(d) 5,791 2,039 
Adani Ports & Special Economic Zone Ltd. 25,618 156,708 
Adani Power Ltd. (a) 7,256 2,787 
Aditya Birla Fashion and Retail Ltd. (a) 10,575 23,228 
AIA Engineering Ltd. 1,908 41,437 
Ajanta Pharma Ltd. (a) 286 5,822 
Alembic Pharmaceuticals Ltd. (a) 109 876 
Ambuja Cements Ltd. 38,240 143,933 
Apollo Hospitals Enterprise Ltd. 2,665 43,684 
Apollo Tyres Ltd. (a) 8,706 38,485 
Arvind Mills Ltd. 13,319 84,477 
Ashok Leyland Ltd. 51,543 127,013 
Asian Paints Ltd. 13,344 240,790 
Aurobindo Pharma Ltd. 20,434 196,963 
Axis Bank Ltd. 76,569 593,598 
Bajaj Auto Ltd. 3,399 150,476 
Bajaj Finance Ltd. 7,306 208,871 
Bajaj Finserv Ltd. 2,557 210,357 
Balkrishna Industries Ltd. 4,756 91,085 
Bayer CropScience Ltd. (a) 495 34,953 
Bharat Forge Ltd. 6,714 77,970 
Bharat Heavy Electricals Ltd. 76,058 100,024 
Bharat Petroleum Corp. Ltd. 33,002 191,756 
Bharti Airtel Ltd. 55,642 341,692 
Bharti Infratel Ltd. 20,626 97,074 
Biocon Ltd. 4,778 47,837 
Blue Dart Express Ltd. 43 2,380 
Bosch Ltd. 269 78,369 
Britannia Industries Ltd. 2,274 188,576 
Cadila Healthcare Ltd. (a) 7,464 46,218 
Canara Bank Ltd. (a) 4,410 17,514 
CEAT Ltd. (a) 225 5,361 
CESC Ltd. GDR 2,216 35,274 
Cg Power & Industrial Soluti (a) 2,315 2,904 
Cipla Ltd. (a) 13,850 126,164 
Coal India Ltd. 35,637 152,543 
Container Corp. of India Ltd. 1,806 35,345 
Credit Analysis & Research Ltd. 132 2,525 
CRISIL Ltd. 197 5,564 
Crompton Greaves Consumer Electricals Ltd. 24,968 88,169 
Dabur India Ltd. 16,701 92,612 
Dalmia Bharat Ltd. 1,087 49,765 
Dewan Housing Finance Corp. Ltd. (a) 3,711 35,562 
Dish TV India Ltd. (a) 40,221 45,377 
Divi's Laboratories Ltd. 3,870 69,524 
Dr. Reddy's Laboratories Ltd. 5,664 179,986 
eClerx Services Ltd. 3,082 61,695 
Edelweiss Financial Services Ltd. 22,487 96,263 
Eicher Motors Ltd. 565 263,983 
Engineers India Ltd. 1,276 3,041 
Escorts Ltd. (a) 1,831 27,540 
Eveready Industries India Ltd. (a) 848 3,994 
Exide Industries Ltd. 4,874 18,111 
Federal Bank Ltd. 81,955 120,697 
Finolex Cables Ltd. (a) 6,357 66,726 
Fortis Healthcare Ltd. (a) 23,747 53,890 
GAIL India Ltd. 37,559 183,360 
Ge Power India Ltd. 330 4,213 
Gillette India Ltd. 57 5,598 
Glenmark Pharmaceuticals Ltd. 4,056 34,836 
GMR Infrastructure Ltd. (a) 75,851 23,257 
Godrej Consumer Products Ltd. 13,557 227,177 
Godrej Industries Ltd. (a) 184 1,653 
Godrej Properties Ltd. (a) 1,455 17,579 
Grasim Industries Ltd. 15,088 247,388 
Great Eastern Shipping Co. Ltd. 242 1,336 
Gruh Finance Ltd. 2,647 26,824 
Havells India Ltd. 11,747 96,344 
HCL Technologies Ltd. 22,415 354,369 
Hero Motocorp Ltd. 2,322 130,072 
Hindalco Industries Ltd. 56,883 200,131 
Hindustan Petroleum Corp. Ltd. 26,819 122,448 
Hindustan Unilever Ltd. 28,422 643,150 
Housing Development Finance Corp. Ltd. 63,044 1,783,705 
ICICI Bank Ltd. 101,242 432,677 
Idea Cellular Ltd. (a) 94,641 98,169 
IDFC Bank Ltd. 86,760 62,846 
Iifl Holdings Ltd. 6,651 76,691 
India Cements Ltd. (a) 5,046 11,097 
Indiabulls Housing Finance Ltd. 12,078 236,472 
Indiabulls Real Estate Ltd. (a) 6,400 20,574 
Indiabulls Ventures Ltd. 2,925 21,079 
Indian Oil Corp. Ltd. 52,614 127,912 
Info Edge India Ltd. 1,648 30,719 
Infosys Ltd. 73,891 1,330,477 
Ipca Laboratories Ltd. 338 3,812 
IRB Infrastructure Developers Ltd. 3,943 16,673 
ITC Ltd. 148,321 626,805 
Jain Irrigation Systems Ltd. 18,440 32,172 
Jaiprakash Associates Ltd. (a) 29,089 8,621 
Jindal Steel & Power Ltd. (a) 11,118 41,802 
JSW Steel Ltd. 48,330 234,995 
Jubilant Foodworks Ltd. 2,417 91,871 
Jubilant Life Sciences Ltd. 3,486 46,015 
Kajaria Ceramics Ltd. 1,102 9,023 
KRBL Ltd. (a) 9,953 66,860 
Larsen & Toubro Infotech Ltd. (c) 2,045 48,104 
Larsen & Toubro Ltd. 22,086 464,285 
LIC Housing Finance Ltd. 16,370 134,025 
Lupin Ltd. (a) 11,425 139,157 
Mahindra & Mahindra Financial Services Ltd. (a) 13,932 110,297 
Mahindra & Mahindra Ltd. 31,122 407,552 
Manappuram General Finance & Leasing Ltd. 13,651 24,978 
Marico Ltd. 20,309 101,321 
Maruti Suzuki India Ltd. 4,674 617,916 
Max Financial Services Ltd. (a) 4,104 31,787 
MindTree Consulting Ltd. 7,309 118,730 
Motherson Sumi Systems Ltd. 35,821 189,790 
Motilal Oswal Financial Services Ltd. 1,131 16,640 
Mphasis BFL Ltd. 6,859 106,624 
Multi Commodity Exchange of India Ltd. (a) 182 2,125 
Muthoot Finance Ltd. 3,598 24,280 
Natco Pharma Ltd. 2,653 32,128 
Ncc Ltd. 52,013 103,861 
Nestle India Ltd. 842 118,970 
NTPC Ltd. 89,999 232,702 
Oberoi Realty Ltd. 3,854 31,753 
Oil & Natural Gas Corp. Ltd. 48,393 131,163 
Page Industries Ltd. 209 75,793 
PC Jeweller Ltd. 6,790 14,700 
Persistent Systems Ltd. 3,130 37,924 
Petronet LNG Ltd. 34,504 117,476 
Pfizer Ltd. 47 1,608 
PI Industries Ltd. 3,093 40,315 
Piramal Enterprises Ltd. (a) 4,494 175,272 
Power Finance Corp. Ltd. 51,449 67,780 
Prestige Estates Projs. Ltd. (a) 4,180 19,142 
PVR Ltd. (a) 153 3,309 
Rajesh Exports Ltd. 5,672 58,138 
RBL Bank Ltd. (c) 3,501 27,805 
Redington India Ltd. (a) 14,319 29,711 
Reliance Capital Ltd. (a) 4,711 30,674 
Reliance Communication Ltd. (a) 61,971 14,168 
Reliance Industries Ltd. 119,191 1,720,927 
Reliance Infrastructure Ltd. (a) 5,715 38,529 
Repco Home Finance Ltd. 83 802 
Rural Electrification Corp. Ltd. 47,953 91,702 
Sadbhav Engineering Ltd. (a) 12,879 73,768 
Sanofi India Ltd. 25 1,826 
Shree Cement Ltd. 378 96,148 
Shriram Transport Finance Co. Ltd. 7,508 181,247 
Siemens India Ltd. 8,788 148,057 
Sintex Plastics Technology Ltd. 15,333 12,362 
Solara Active Pharma Sciences Ltd. (a)(d) 211 401 
State Bank of India 75,196 277,841 
Strides Shasun Ltd. (a) 1,270 12,149 
Sun Pharmaceutical Industries Ltd. 46,980 372,704 
Sundaram Finance Holdings Ltd. (a) 109 240 
Sundaram Finance Ltd. 2,407 64,003 
Supreme Industries Ltd. 796 16,519 
Suzlon Energy Ltd. (a) 45,292 7,384 
Symphony Ltd. 118 3,221 
Tata Communications Ltd. 3,714 34,721 
Tata Consultancy Services Ltd. 19,282 1,022,583 
Tata Global Beverages Ltd. 21,357 95,237 
Tata Motors Ltd. (a) 70,194 356,482 
Tata Motors Ltd. Class A (a) 10,557 30,254 
Tata Power Co. Ltd. 54,079 71,606 
Tata Steel Ltd. 16,694 148,500 
Tech Mahindra Ltd. 20,364 204,685 
The Indian Hotels Co. Ltd. (a) 43,561 96,385 
The Karur Vysya Bank Ltd. (a) 3,406 5,565 
The Ramco Cements Ltd. 1,219 15,060 
Thermax Ltd. (a) 2,019 34,463 
Titan Co. Ltd. (a) 12,408 182,809 
Tube Investments of India Ltd. (a) 4,001 43,444 
Tube Investments of India Ltd. 4,001 14,096 
Ultratech Cemco Ltd. 4,695 289,461 
United Spirits Ltd. (a) 2,436 132,391 
UPL Ltd. 16,282 178,264 
Vakrangee Ltd. 17,746 26,600 
Vedanta Ltd. 58,285 259,923 
Voltas Ltd. (a) 2,256 21,733 
WABCO India Ltd. 355 43,238 
Welspun India Ltd. (a) 12,290 10,541 
Whirlpool of India Ltd. 3,668 87,050 
Wipro Ltd. 43,615 181,772 
Yes Bank Ltd. 84,080 455,969 
Zee Entertainment Enterprises Ltd. (a) 24,074 212,617 
TOTAL INDIA  24,280,723 
Indonesia - 0.5%   
Kresna Graha Investama PT Tbk (a) 910,500 42,609 
PT ACE Hardware Indonesia Tbk 504,300 46,840 
PT Adaro Energy Tbk 650,000 85,118 
PT AKR Corporindo Tbk 192,600 67,440 
PT Aneka Tambang Tbk 460,400 27,671 
PT Astra International Tbk 846,000 433,006 
PT Bank Central Asia Tbk 414,800 655,916 
PT Bank Danamon Indonesia Tbk Series A 153,900 73,361 
PT Bank Jabar Banten Tbk 70,600 10,391 
PT Bank Mandiri (Persero) Tbk 836,700 423,834 
PT Bank Negara Indonesia (Persero) Tbk 321,200 184,920 
PT Bank Rakyat Indonesia Tbk 2,265,000 522,238 
PT Bank Tabungan Negara Tbk 237,600 52,951 
PT Bumi Resources Tbk (a) 644,000 11,030 
PT Bumi Serpong Damai Tbk 696,900 84,154 
PT Charoen Pokphand Indonesia Tbk 326,300 86,022 
PT Ciputra Development Tbk 790,100 62,152 
PT Global Mediacom Tbk 14,600 607 
PT Gudang Garam Tbk 20,800 103,332 
PT Hanjaya Mandala Sampoerna Tbk 363,900 92,210 
PT Hanson International Tbk (a) 3,268,900 32,984 
PT Indo Tambangraya Megah Tbk 15,300 25,928 
PT Indocement Tunggal Prakarsa Tbk 74,200 93,901 
PT Indofood CBP Sukses Makmur Tbk 72,600 45,104 
PT Indofood Sukses Makmur Tbk 336,500 168,240 
PT Japfa Comfeed Indonesia Tbk 148,500 16,083 
PT Jasa Marga Tbk 76,596 23,945 
PT Kalbe Farma Tbk 756,500 81,668 
PT Kawasan Industri Jababeka Tbk 137,171 2,422 
PT Link Net Tbk 30,500 11,880 
PT Lippo Karawaci Tbk 1,190,100 38,013 
PT Matahari Department Store Tbk 103,400 76,560 
PT Medco Energi International Tbk (a) 424,200 36,457 
PT Media Nusantara Citra Tbk 121,800 11,523 
PT Pakuwon Jati Tbk 1,383,800 58,493 
PT Pembangunan Perumahan Persero Tbk 253,258 43,959 
PT Perusahaan Gas Negara Tbk Series B 466,000 65,964 
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk 17,000 1,537 
PT PP Properti Tbk 481,000 5,508 
PT Semen Gresik (Persero) Tbk 127,500 88,062 
PT Sitara Propertindo Tbk (a) 49,100 2,842 
PT Sugih Energy Tbk (a) 40,500 145 
PT Summarecon Agung Tbk 748,400 48,421 
PT Surya Citra Media Tbk 295,600 54,107 
PT Tambang Batubara Bukit Asam Tbk 121,100 27,997 
PT Telekomunikasi Indonesia Tbk Series B 2,072,200 565,451 
PT Tower Bersama Infrastructure Tbk 79,000 31,464 
PT Unilever Indonesia Tbk 68,700 228,335 
PT United Tractors Tbk 64,900 158,348 
PT Waskita Karya Persero Tbk 144,500 22,826 
PT Wijaya Karya Persero Tbk 236,426 26,810 
PT XL Axiata Tbk (a) 52,900 8,018 
Siloam International Hospitals Tbk PT (a) 13,600 6,848 
TOTAL INDONESIA  5,175,645 
Ireland - 0.5%   
AIB Group PLC 30,718 183,324 
Bank Ireland Group PLC 36,052 324,346 
C&C Group PLC 8,159 30,741 
Cairn Homes PLC (a) 54,034 117,844 
CRH PLC 34,780 1,235,087 
Dalata Hotel Group PLC (a) 9,355 74,561 
DCC PLC (United Kingdom) 3,245 312,717 
Glanbia PLC 7,667 129,621 
Grafton Group PLC unit 13,297 137,661 
Green REIT PLC 65,016 119,183 
Greencore Group PLC 34,021 74,353 
Hibernia (REIT) PLC 17,950 32,168 
Irish Continental Group PLC unit 9,952 67,301 
Irish Residential Properties REIT PLC 974 1,602 
James Hardie Industries PLC CDI 16,875 298,003 
Kerry Group PLC Class A 6,332 646,131 
Kingspan Group PLC (Ireland) 6,852 310,293 
Origin Enterprises PLC 16,139 104,074 
Paddy Power Betfair PLC (Ireland) 3,544 350,724 
Permanent Tsb Group Hld PLC (a) 637 1,346 
Ryanair Holdings PLC sponsored ADR (a) 1,028 113,049 
Smurfit Kappa Group PLC 9,868 421,371 
United Drug PLC (United Kingdom) 14,682 184,946 
TOTAL IRELAND  5,270,446 
Isle of Man - 0.1%   
Gaming VC Holdings SA 20,754 255,005 
Genting Singapore PLC 250,100 219,117 
NEPI Rockcastle PLC 15,171 167,196 
Playtech Ltd. 11,330 126,437 
Redefine International PLC 5,476 2,797 
TOTAL ISLE OF MAN  770,552 
Israel - 0.4%   
Airport City Ltd. (a) 7,556 86,583 
Alony Hetz Properties & Investments Ltd. 1,835 16,316 
Amot Investments Ltd. 8,182 40,422 
Azrieli Group 1,294 59,362 
Bank Hapoalim BM (Reg.) 43,841 300,398 
Bank Leumi le-Israel BM 61,504 364,005 
Bezeq The Israel Telecommunication Corp. Ltd. 89,480 112,927 
Caesarstone Sdot-Yam Ltd. 1,088 20,074 
Cellcom Israel Ltd. (Israel) (a) 309 2,116 
Check Point Software Technologies Ltd. (a)(b) 5,657 545,957 
CyberArk Software Ltd. (a) 3,289 180,763 
Delek Group Ltd. 333 50,048 
Elbit Systems Ltd. (Israel) 1,014 117,348 
First International Bank of Israel 2,356 48,672 
Formula Systems (1985) Ltd. 126 4,345 
Frutarom Industries Ltd. 1,853 177,888 
Gazit-Globe Ltd. 1,653 15,662 
Harel Insurance Investments and Financial Services Ltd. 2,295 16,714 
Israel Chemicals Ltd. 32,652 146,795 
Israel Corp. Ltd. (Class A) 55 10,812 
Israel Discount Bank Ltd. (Class A) (a) 54,831 152,200 
Ituran Location & Control Ltd. 1,134 35,551 
Jerusalem Economy Ltd. (a) 1,266 3,087 
Jerusalem Oil Exploration Ltd. (a) 374 20,992 
Kornit Digital Ltd. (a)(b) 506 7,362 
Mazor Robotics Ltd. (a) 1,995 54,213 
Melisron Ltd. 1,481 60,698 
Migdal Insurance & Financial Holdings Ltd. 2,273 2,233 
Mizrahi Tefahot Bank Ltd. 5,565 101,916 
NICE Systems Ltd. (a) 2,394 227,097 
Oil Refineries Ltd. 46,046 19,985 
Orbotech Ltd. (a) 2,103 122,857 
Partner Communications Co. Ltd. (a) 7,712 31,843 
Paz Oil Co. Ltd. 313 45,929 
Plus500 Ltd. 3,162 61,336 
Radware Ltd. (a) 1,220 26,962 
Reit 1 Ltd. 24,285 97,776 
Shikun & Binui Ltd. 1,469 2,502 
SodaStream International Ltd. (a) 1,313 124,065 
Strauss Group Ltd. 3,837 79,140 
Teva Pharmaceutical Industries Ltd. sponsored ADR (b) 38,635 694,657 
Tower Semiconductor Ltd. (a) 5,008 131,735 
Wix.com Ltd. (a) 1,693 139,249 
TOTAL ISRAEL  4,560,592 
Italy - 1.6%   
A2A SpA 53,182 107,091 
ACEA SpA 1,409 24,791 
Amplifon SpA 2,447 45,802 
Anima Holding SpA (c) 11,868 85,561 
Ascopiave SpA 12,371 50,793 
Assicurazioni Generali SpA 49,765 1,006,011 
Astm SpA 2,401 66,252 
Atlantia SpA 18,896 627,517 
Autogrill SpA 4,595 58,819 
Azimut Holding SpA 6,722 141,488 
Banca Generali SpA 1,695 55,102 
Banca IFIS SpA 642 25,352 
Banca Mediolanum S.p.A. 16,321 131,264 
Banca Monte dei Paschi di Siena SpA (a) 12,845 41,602 
Banca Popolare dell'Emilia Romagna 23,378 135,284 
Banca Popolare di Sondrio SCARL 37,399 177,039 
Banco BPM SpA (a) 64,008 233,164 
Beni Stabili SpA SIIQ 8,733 8,273 
Biesse SpA 462 24,437 
Brembo SpA 8,193 121,200 
Brunello Cucinelli SpA 1,252 41,729 
Buzzi Unicem SpA 2,963 74,997 
Cerved Information Solutions SpA 10,444 126,878 
Compagnie Industriali Riunite SpA (CIR) 1,763 2,321 
Credito Emiliano SpA 3,458 30,400 
Credito Valtellinese SC (a) 328,946 51,164 
Danieli & C. Officine Meccaniche SpA 1,400 38,631 
Datalogic SpA 613 19,617 
Davide Campari-Milano SpA 25,590 192,213 
De Longhi SpA 3,032 90,804 
DiaSorin S.p.A. 756 71,529 
Digital Multimedia Technologies SpA 948 54,836 
Enav SpA (c) 12,759 69,705 
Enel SpA 332,517 2,109,396 
Eni SpA 101,618 1,986,471 
ERG SpA 2,649 63,659 
Fincantieri SpA 23,908 37,735 
FinecoBank SpA 20,446 244,536 
Hera SpA 27,438 101,788 
Immobiliare Grande Distribuzione SpA 903 8,465 
Industria Macchine Automatiche SpA (IMA) 720 70,079 
Infrastrutture Wireless Italiane SpA (c) 9,065 73,071 
Interpump Group SpA 4,488 142,972 
Intesa Sanpaolo SpA 443,793 1,688,170 
Intesa Sanpaolo SpA (Risparmio Shares) 139,653 554,167 
Iren SpA 21,493 65,458 
Italgas SpA 22,389 145,080 
Italmobiliare SpA 66 1,789 
Leonardo SpA 17,113 198,597 
Luxottica Group SpA 7,161 447,601 
Maire Tecnimont SpA 6,337 32,309 
MARR SpA 1,204 36,378 
Mediaset SpA (a) 22,568 89,799 
Mediobanca SpA 25,390 308,603 
Moncler SpA 6,980 315,584 
OVS (c) 19,908 84,864 
Piaggio & C SpA 5,908 15,553 
Poste Italiane SpA (c) 21,398 209,461 
Prysmian SpA 8,622 253,843 
Rai Way SpA (c) 3,341 18,882 
Recordati SpA 4,185 149,845 
Reply SpA 849 53,672 
Safilo Group SpA (a) 143 719 
Saipem SpA (a) 35,135 134,670 
Salini Impregilo SpA 10,586 30,348 
Salvatore Ferragamo Italia SpA 3,856 114,178 
Saras Raffinerie Sarde SpA 20,810 49,707 
Snam Rete Gas SpA 95,333 458,770 
Societa Cattolica Di Assicurazioni SCRL 5,735 61,222 
Societa Iniziative Autostradali e Servizi SpA (SIAS) 2,524 53,644 
Technogym SpA (c) 5,245 63,909 
Telecom Italia SpA (a) 341,208 337,133 
Terna SpA 58,713 352,878 
Tod's SpA 706 54,564 
UniCredit SpA 83,643 1,815,505 
Unione di Banche Italiane SCpA 43,330 223,691 
Unipol Gruppo SpA 13,073 70,252 
Unipolsai SpA 35,032 94,339 
YOOX SpA (a) 2,445 111,873 
Zignago Vetro SpA 165 1,660 
TOTAL ITALY  17,568,555 
Japan - 17.3%   
77 Bank Ltd. 2,400 59,473 
A/S One Corp. 1,900 129,308 
ABC-MART, Inc. 1,807 119,177 
ACOM Co. Ltd. 32,300 146,550 
Activia Properties, Inc. 18 79,857 
Adastria Co. Ltd. 200 3,480 
Adeka Corp. 2,600 46,235 
Advance Residence Investment Corp. 49 126,355 
Advantest Corp. 8,159 195,541 
Aeon (REIT) Investment Corp. 105 109,015 
AEON Co. Ltd. 26,925 538,771 
Aeon Delight Co. Ltd. 1,800 63,145 
AEON Financial Service Co. Ltd. 3,999 93,866 
AEON MALL Co. Ltd. 6,600 133,908 
Ai Holdings Corp. 1,200 32,130 
Aica Kogyo Co. Ltd. 1,200 45,225 
Aichi Steel Corp. 100 4,331 
Aida Engineering Ltd. 3,500 41,013 
Aiful Corp. (a) 10,100 34,184 
Ain Holdings, Inc. 1,700 113,520 
Air Water, Inc. 6,100 117,960 
Aisin Seiki Co. Ltd. 7,100 385,785 
Ajinomoto Co., Inc. 21,725 398,649 
Akita Bank Ltd. 100 2,741 
Alfresa Holdings Corp. 10,239 226,285 
All Nippon Airways Ltd. 4,641 184,248 
Alpine Electronics, Inc. 1,500 28,485 
Alps Electric Co. Ltd. 7,978 177,192 
Amada Holdings Co. Ltd. 11,700 140,952 
Amano Corp. 2,000 49,780 
Anicom Holdings, Inc. 900 29,638 
Anritsu Corp. 6,700 88,255 
Aoki International Co. Ltd. 200 3,068 
Aoyama Trading Co. Ltd. 1,500 57,835 
Aozora Bank Ltd. 4,500 182,149 
ARCS Co. Ltd. 4,700 128,635 
Ariake Japan Co. Ltd. 800 68,789 
Asahi Diamond Industrial Co. Ltd. 4,700 45,315 
Asahi Glass Co. Ltd. 9,463 392,993 
Asahi Group Holdings 16,059 813,233 
Asahi Holdings, Inc. 1,700 31,241 
ASAHI INTECC Co. Ltd. 3,880 136,112 
Asahi Kasei Corp. 53,300 734,996 
Asics Corp. 8,200 155,419 
ASKUL Corp. 600 18,908 
Astellas Pharma, Inc. 87,403 1,278,377 
Atom Corp. 1,400 12,666 
Autobacs Seven Co. Ltd. 1,400 26,509 
Avex, Inc. 200 2,768 
Axial Retailing, Inc. 1,300 53,037 
Azbil Corp. 2,300 107,300 
Bandai Namco Holdings, Inc. 7,800 265,066 
Bank of Kyoto Ltd. 3,800 228,723 
Bank of Nagoya Ltd. 100 3,728 
Bank of The Ryukyus Ltd. 2,700 41,443 
Belc Co. Ltd. 800 43,103 
Belluna Co. Ltd. 1,500 17,481 
Benefit One, Inc. 1,700 39,934 
Benesse Holdings, Inc. 3,800 138,694 
Bic Camera, Inc. 5,400 88,814 
BML, Inc. 1,600 40,585 
Bridgestone Corp. 26,658 1,119,041 
Brother Industries Ltd. 9,400 202,583 
Bunka Shutter Co. Ltd. 300 2,986 
Calbee, Inc. 2,700 91,136 
Canon Marketing Japan, Inc. 1,600 34,760 
Canon, Inc. 43,643 1,501,284 
Capcom Co. Ltd. 2,800 53,864 
Casio Computer Co. Ltd. 11,700 174,772 
Cawachi Ltd. 200 4,662 
Central Glass Co. Ltd. 2,800 66,568 
Central Japan Railway Co. 5,755 1,156,580 
Chiba Bank Ltd. 29,000 234,504 
Chiyoda Co. Ltd. 100 2,405 
Chiyoda Corp. 6,000 61,855 
Chofu Seisakusho Co. Ltd. 100 2,379 
Chubu Electric Power Co., Inc. 28,016 439,127 
Chudenko Corp. 600 16,712 
Chugai Pharmaceutical Co. Ltd. 9,100 481,138 
Chugoku Electric Power Co., Inc. 16,500 206,778 
Chugoku Marine Paints Ltd. 5,400 53,348 
Citizen Watch Co. Ltd. 16,600 124,515 
CKD Corp. 2,665 56,240 
Clarion Co. Ltd. 1,000 2,817 
Coca-Cola West Co. Ltd. 4,750 204,651 
cocokara fine HOLDINGS, Inc. 1,300 94,301 
COLOPL, Inc. 500 3,792 
Colowide Co. Ltd. 4,100 104,413 
Comforia Residential REIT, Inc. 20,656 
COMSYS Holdings Corp. 3,600 100,439 
Concordia Financial Group Ltd. 53,300 310,575 
Cookpad, Inc. 500 2,918 
Cosmo Energy Holdings Co. Ltd. 2,600 85,977 
Cosmos Pharmaceutical Corp. 300 67,536 
Create Restaurants Holdings, Inc. 200 2,530 
Create SD Holdings Co. Ltd. 1,800 52,195 
Credit Saison Co. Ltd. 6,901 123,918 
CyberAgent, Inc. 4,100 226,528 
CYBERDYNE, Inc. (a) 3,100 39,728 
Dai Nippon Printing Co. Ltd. 13,700 295,505 
Dai-ichi Mutual Life Insurance Co. 44,499 884,933 
Daibiru Corp. 200 2,387 
Daicel Chemical Industries Ltd. 13,721 158,899 
Daido Metal Co. Ltd. 400 4,757 
Daido Steel Co. Ltd. 700 38,035 
Daifuku Co. Ltd. 4,100 220,527 
Daihen Corp. 8,000 62,349 
Daiho Corp. 1,000 6,101 
Daiichi Sankyo Kabushiki Kaisha 24,000 823,271 
Daiichikosho Co. Ltd. 2,400 126,235 
Daikin Industries Ltd. 10,368 1,214,437 
Daikyo, Inc. 400 8,727 
DaikyoNishikawa Corp. 1,600 28,847 
Dainippon Sumitomo Pharma Co. Ltd. 8,600 156,943 
Daio Paper Corp. 6,000 84,248 
Daiseki Co. Ltd. 1,600 49,909 
Daito Trust Construction Co. Ltd. 2,844 474,911 
Daiwa House Industry Co. Ltd. 23,244 852,620 
Daiwa House REIT Investment Corp. 61 145,637 
Daiwa Office Investment Corp. 18 106,531 
Daiwa Securities Group, Inc. 63,000 387,670 
Daiwabo Holdings Co. Ltd. 500 22,777 
DCM Japan Holdings Co. Ltd. 800 7,977 
DeNA Co. Ltd. 3,600 68,661 
Denki Kagaku Kogyo KK 4,400 157,373 
DENSO Corp. 19,222 1,012,091 
Dentsu, Inc. 9,000 426,454 
Descente Ltd. 1,800 30,445 
Dexerials Corp. 1,700 16,033 
Dic Corp. 3,200 108,891 
Digital Garage, Inc. 1,400 46,679 
Dip Corp. 800 19,451 
Disco Corp. 1,200 211,636 
Dmg Mori Co. Ltd. 4,800 90,318 
Don Quijote Holdings Co. Ltd. 4,623 249,503 
Doshisha Co. Ltd. 100 2,334 
Doutor Nichires Holdings Co., Ltd. 500 10,465 
Dowa Holdings Co. Ltd. 3,300 124,671 
Dr. Ci:Labo Co., Ltd. 1,000 48,207 
DTS Corp. 1,500 54,473 
Duskin Co. Ltd. 600 15,143 
Dydo Group Holdings, Inc. 100 6,229 
Eagle Industry Co. Ltd. 300 5,431 
Earth Corp. 700 36,819 
East Japan Railway Co. 13,310 1,277,185 
Ebara Corp. 4,500 172,475 
EDION Corp. 1,300 15,293 
Ehime Bank Ltd. 2,400 28,957 
Eiken Chemical Co. Ltd. 2,800 66,286 
Eisai Co. Ltd. 11,300 759,225 
Eizo Corp. 600 28,211 
Electric Power Development Co. Ltd. 6,000 163,447 
en-japan, Inc. 1,100 51,619 
EPS Co. Ltd. 2,000 40,798 
euglena Co. Ltd. (a) 1,200 11,054 
Exedy Corp. 1,200 40,724 
Ezaki Glico Co. Ltd. 2,100 113,529 
FamilyMart Co. Ltd. (b) 3,277 318,647 
Fancl Corp. 1,200 47,201 
Fanuc Corp. 8,085 1,731,893 
Fast Retailing Co. Ltd. 2,236 986,074 
FCC Co. Ltd. 3,000 85,071 
Ferrotec Holdings Corp. 2,700 60,659 
Financial Products Group Co. Ltd. 4,200 53,672 
Foster Electric Co. Ltd. 1,100 25,890 
FP Corp. 1,400 86,572 
Frontier Real Estate Investment Corp. 32 132,016 
Fuji Corp. 4,800 86,367 
Fuji Electric Co. Ltd. 23,000 164,947 
Fuji Kyuko Co. Ltd. 500 13,927 
Fuji Oil Holdings, Inc. 1,700 54,661 
Fuji Seal International, Inc. 3,500 130,946 
Fuji Soft ABC, Inc. 600 23,244 
Fujicco Co. Ltd. 100 2,305 
Fujifilm Holdings Corp. 17,300 697,096 
Fujikura Ltd. 15,800 108,397 
Fujimi, Inc. 200 4,343 
Fujimori Kogyo Co. Ltd. 400 13,593 
Fujitec Co. Ltd. 4,200 58,436 
Fujitsu General Ltd. 5,500 90,057 
Fujitsu Ltd. 83,427 508,178 
Fukuda Denshi Co. Ltd. 700 50,201 
Fukuoka (REIT) Investment Fund 18 27,876 
Fukuoka Financial Group, Inc. 40,000 214,416 
Fukushima Industries Corp. 100 4,656 
Fukuyama Transporting Co. Ltd. 1,000 41,850 
Funai Soken Holdings, Inc. 900 21,092 
Furukawa Co. Ltd. 600 12,124 
Furukawa Electric Co. Ltd. 2,700 133,370 
Fuso Chemical Co. Ltd. 300 7,656 
Futaba Corp. 3,900 80,875 
Futaba Industrial Co. Ltd. 700 5,616 
Fuyo General Lease Co. Ltd. 500 33,983 
G-Tekt Corp. 100 1,936 
Global One Real Estate Investment Corp. 32 32,082 
Glory Ltd. 2,200 75,869 
GLP J-REIT 164 176,272 
GMO Internet, Inc. 4,100 75,572 
GMO Payment Gateway, Inc. 800 79,400 
GNI Group Ltd. (a) 7,000 33,617 
Goldcrest Co. Ltd. 300 6,386 
GOLDWIN, Inc. 600 37,980 
GREE, Inc. 3,400 18,816 
GS Yuasa Corp. 10,000 53,970 
Gulliver International Co. Ltd. 400 2,898 
GungHo Online Entertainment, Inc. 28,000 84,779 
Gunma Bank Ltd. 10,900 63,813 
Gunze Ltd. 700 43,094 
Gurunavi, Inc. 100 1,369 
H.I.S. Co. Ltd. 2,300 84,262 
H2O Retailing Corp. 2,500 47,247 
Hakuhodo DY Holdings, Inc. 11,900 166,657 
Hamamatsu Photonics K.K. 6,300 243,194 
Hankyu Hanshin Holdings, Inc. 9,600 378,924 
Hankyu REIT, Inc. 11,501 
Hanwa Co. Ltd. 1,700 74,488 
Harmonic Drive Systems, Inc. 1,200 57,629 
Haseko Corp. 9,300 146,748 
Hazama Ando Corp. 5,200 41,954 
Heiwa Corp. 1,700 33,838 
Heiwa Real Estate (REIT), Inc. 15 14,366 
Heiwa Real Estate Co. Ltd. 1,700 39,903 
Heiwado Co. Ltd. 1,800 42,975 
Hiday Hidaka Corp. 2,160 56,411 
Hikari Tsushin, Inc. 800 129,967 
Hino Motors Ltd. 9,000 110,071 
Hirata Corp. 400 37,980 
Hirose Electric Co. Ltd. 1,155 162,917 
Hiroshima Bank Ltd. 14,400 109,857 
Hisamitsu Pharmaceutical Co., Inc. 3,400 265,295 
Hitachi Capital Corp. 1,900 50,924 
Hitachi Chemical Co. Ltd. 5,700 125,450 
Hitachi Construction Machinery Co. Ltd. 5,000 182,263 
Hitachi High-Technologies Corp. 3,100 144,905 
Hitachi Ltd. 201,881 1,480,313 
Hitachi Metals Ltd. 13,000 149,360 
Hitachi Transport System Ltd. 2,200 58,985 
Hitachi Zosen Corp. 2,900 15,784 
Hogy Medical Co. Ltd. 2,800 116,795 
Hokkaido Electric Power Co., Inc. 18,500 122,860 
Hokuetsu Kishu Paper Co. Ltd. 9,200 57,563 
Hokuhoku Financial Group, Inc. 4,300 63,800 
Hokuriku Electric Power Co., Inc. 5,400 55,176 
Hokuto Corp. 100 1,767 
Honda Motor Co. Ltd. 71,572 2,461,072 
Horiba Ltd. 2,000 145,810 
Hoshino Resorts REIT, Inc. 13 63,977 
Hoshizaki Corp. 2,500 232,574 
Hosiden Corp. 1,800 21,603 
House Foods Group, Inc. 1,900 67,001 
Hoya Corp. 16,118 864,286 
Hulic (REIT), Inc. 78 120,510 
Hulic Co. Ltd. 12,400 133,505 
Hyakujushi Bank Ltd. 7,000 23,692 
Ibiden Co. Ltd. 8,400 139,155 
IBJ Leasing Co. Ltd. 1,600 44,274 
Ichibanya Co. Ltd. 100 4,176 
Ichigo Real Estate Investment Corp. 11 8,181 
Ichigo, Inc. 8,900 39,729 
Idemitsu Kosan Co. Ltd. 5,400 211,663 
IHI Corp. 6,072 199,401 
Iida Group Holdings Co. Ltd. 6,000 117,508 
Inaba Denki Sangyo Co. Ltd. 400 17,142 
Inabata & Co. Ltd. 1,000 15,368 
Industrial & Infrastructure Fund Investment Corp. 104 115,207 
Ines Corp. 3,700 39,836 
Infomart Corp. 3,200 29,243 
INPEX Corp. 39,700 509,324 
Internet Initiative Japan, Inc. 1,600 30,282 
Invesco Office J-REIT, Inc. 426 53,854 
Invincible Investment Corp. 186 83,200 
Iriso Electronics Co. Ltd. 500 31,742 
Iseki & Co. Ltd. 100 1,935 
Isetan Mitsukoshi Holdings Ltd. 18,871 210,253 
Istyle, Inc. 1,300 17,338 
Isuzu Motors Ltd. 25,768 394,581 
IT Holdings Corp. 3,300 131,010 
ITO EN Ltd. 2,260 90,342 
Itochu Corp. 62,550 1,255,349 
Itochu Enex Co. Ltd. 300 2,947 
ITOCHU Techno-Solutions Corp. 3,012 62,543 
Itoham Yonekyu Holdings, Inc. 10,100 91,927 
Iwatani Corp. 600 22,201 
Iyo Bank Ltd. 7,900 62,654 
Izumi Co. Ltd. 2,100 138,886 
J Trust Co. Ltd. 600 4,248 
J. Front Retailing Co. Ltd. 10,200 165,615 
JACCS Co. Ltd. 200 4,537 
JAFCO Co. Ltd. 900 39,599 
Japan Airlines Co. Ltd. 5,200 205,013 
Japan Airport Terminal Co. Ltd. 3,600 148,024 
Japan Aviation Electronics Industry Ltd. 1,000 17,124 
Japan Display, Inc. (a) 24,400 32,364 
Japan Excellent, Inc. 99 128,776 
Japan Exchange Group, Inc. 23,100 428,952 
Japan Hotel REIT Investment Corp. 128 96,948 
Japan Lifeline Co. Ltd. 2,300 67,956 
Japan Logistics Fund, Inc. 54 109,512 
Japan Material Co. Ltd. 1,800 23,924 
Japan Petroleum Exploration Co. Ltd. 1,300 33,856 
Japan Post Bank Co. Ltd. 13,834 188,300 
Japan Post Holdings Co. Ltd. 63,338 770,578 
Japan Prime Realty Investment Corp. 36 130,735 
Japan Real Estate Investment Corp. 58 301,354 
Japan Rental Housing Investment, Inc. 42 32,733 
Japan Retail Fund Investment Corp. 119 223,152 
Japan Securities Finance Co. Ltd. 500 3,293 
Japan Steel Works Ltd. 2,800 92,206 
Japan Tobacco, Inc. 45,143 1,212,609 
Japan Wool Textile Co. Ltd. 400 4,175 
JCR Pharmaceuticals Co. Ltd. 1,000 52,598 
JEOL Ltd. 5,000 42,993 
JFE Holdings, Inc. 21,000 433,082 
JGC Corp. 9,142 224,536 
Jimoto Holdings, Inc. 13,900 24,286 
JIN Co. Ltd. 1,100 59,769 
Joshin Denki Co. Ltd. 1,800 74,588 
Joyful Honda Co. Ltd. 700 24,748 
JSR Corp. 9,300 175,672 
JTEKT Corp. 10,200 165,615 
Juroku Bank Ltd. 1,300 34,379 
Justsystems Corp. 700 16,616 
JVC KENWOOD Holdings, Inc. 700 2,452 
JX Holdings, Inc. 132,050 862,939 
K's Holdings Corp. 11,200 162,078 
kabu.com Securities Co. Ltd. 600 2,190 
Kadokawa Dwango Corp. 2,000 20,710 
Kagome Co. Ltd. 2,700 97,434 
Kajima Corp. 37,000 357,071 
Kakaku.com, Inc. 7,500 143,455 
Kaken Pharmaceutical Co. Ltd. 1,556 92,233 
Kameda Seika Co. Ltd. 100 4,930 
Kamigumi Co. Ltd. 5,500 124,268 
Kanamoto Co. Ltd. 1,400 48,088 
Kandenko Co. Ltd. 7,800 92,470 
Kaneka Corp. 16,000 158,214 
Kanematsu Corp. 3,200 49,060 
Kansai Electric Power Co., Inc. 28,599 400,260 
Kansai Mirai Financial Group, Inc. (a) 6,700 53,075 
Kansai Paint Co. Ltd. 7,639 172,178 
Kanto Denka Kogyo Co. Ltd. 1,000 9,321 
Kao Corp. 20,791 1,493,901 
Kato Sangyo 1,100 40,601 
Kawasaki Heavy Industries Ltd. 6,300 211,498 
Kawasaki Kisen Kaisha Ltd. (a) 6,400 148,116 
KDDI Corp. 74,837 2,008,895 
Keihan Electric Railway Co., Ltd. 3,000 97,146 
Keihin Corp. 1,600 31,614 
Keihin Electric Express Railway Co. Ltd. 9,839 180,634 
Keio Corp. 5,103 233,864 
Keisei Electric Railway Co. 7,606 248,385 
Kenedix Office Investment Corp. 15 92,206 
Kenedix Residential Investment Corp. 49 72,254 
Kenedix Retail REIT Corp. 12 25,423 
Kenedix, Inc. 7,400 42,916 
Kewpie Corp. 6,700 156,346 
Keyence Corp. 4,075 2,496,366 
KH Neochem Co. Ltd. 800 24,296 
Kikkoman Corp. 7,000 303,833 
Kinden Corp. 4,392 76,735 
Kintetsu Group Holdings Co. Ltd. 6,653 271,123 
Kintetsu World Express, Inc. 2,600 48,542 
Kirin Holdings Co. Ltd. 36,170 1,016,744 
Kisoji Co. Ltd. 300 7,791 
Kissei Pharmaceutical Co. Ltd. 1,400 39,636 
Kitz Corp. 1,400 11,744 
Koa Corp. 1,100 24,149 
Kobayashi Pharmaceutical Co. Ltd. 1,800 151,976 
Kobe Bussan Co. Ltd. 300 14,572 
Kobe Steel Ltd. 11,600 120,117 
Kohnan Shoji Co. Ltd. 1,400 36,562 
Koito Manufacturing Co. Ltd. 5,100 342,892 
Kokuyo Co. Ltd. 4,600 83,063 
Komatsu Ltd. 38,311 1,305,974 
KOMEDA Holdings Co. Ltd. 1,900 38,323 
KOMERI Co. Ltd. 600 16,048 
Komori Corp. 3,300 42,110 
Konami Holdings Corp. 4,300 211,617 
Konica Minolta, Inc. 19,800 170,252 
Konoike Transport Co. Ltd. 500 8,768 
Kose Corp. 1,300 240,807 
Koshidaka Holdings Co. Ltd. 700 42,517 
Kotobuki Spirits Co. Ltd. 600 28,595 
Kubota Corp. 44,510 753,030 
Kumagai Gumi Co. Ltd. 1,000 34,120 
Kumiai Chemical Industry Co. Ltd. 3,500 22,283 
Kura Corp. Ltd. 700 50,457 
Kurabo Industries Ltd. 3,000 9,934 
Kuraray Co. Ltd. 18,252 304,200 
Kureha Chemical Industry Co. Ltd. 1,500 102,223 
Kurita Water Industries Ltd. 5,800 188,346 
Kusuri No Aoki Holdings Co. Ltd. 400 27,479 
Kyb Corp. 1,400 67,746 
Kyocera Corp. 12,837 821,746 
Kyoei Steel Ltd. 100 2,087 
Kyokuto Kaihatsu Kogyo Co. Ltd. 500 7,935 
Kyorin Holdings, Inc. 500 9,806 
Kyoritsu Maintenance Co. Ltd. 2,600 122,960 
Kyowa Exeo Corp. 4,900 127,744 
Kyowa Hakko Kirin Co., Ltd. 11,400 247,563 
Kyudenko Corp. 1,400 65,697 
Kyushu Electric Power Co., Inc. 19,478 240,891 
Kyushu Financial Group, Inc. 14,785 72,762 
Kyushu Railway Co. 6,100 195,856 
LaSalle Logiport REIT 63 64,717 
Lasertec Corp. 1,200 40,066 
Lawson, Inc. 2,700 178,568 
Leopalace21 Corp. 10,000 86,992 
LIFE Corp. 100 2,501 
LIFULL Co. Ltd. 2,300 18,767 
LINE Corp. (a) 1,900 68,712 
Lintec Corp. 4,900 141,863 
Lion Corp. 9,136 197,395 
LIXIL Group Corp. 12,895 289,347 
M3, Inc. 8,895 337,265 
Mabuchi Motor Co. Ltd. 2,500 126,235 
Macnica Fuji Electronics Holdings, Inc. 3,700 63,596 
Macromill, Inc. 2,100 56,726 
Maeda Corp. 4,000 49,469 
Maeda Road Construction Co. Ltd. 6,000 129,748 
Makino Milling Machine Co. Ltd. 10,000 94,859 
Makita Corp. 8,900 400,549 
Mandom Corp. 4,400 158,983 
Mani, Inc. 1,400 56,989 
Marubeni Corp. 68,100 513,429 
Marudai Food Co. Ltd. 1,000 4,930 
Maruha Nichiro Corp. 1,400 47,192 
Marui Group Co. Ltd. 8,502 176,931 
Maruichi Steel Tube Ltd. 5,000 171,286 
Marusan Securities Co. Ltd. 900 8,595 
Maruwa Ceramic Co. Ltd. 500 41,438 
Matsui Securities Co. Ltd. 1,700 16,608 
Matsumotokiyoshi Holdings Co. Ltd. 4,300 192,147 
Max Co. Ltd. 1,000 13,035 
Maxell Holdings Ltd. 1,500 29,624 
Mazda Motor Corp. 22,500 313,152 
McDonald's Holdings Co. (Japan) Ltd. 3,028 141,816 
MCJ Co. Ltd. 300 3,993 
MCUBS MidCity Investment Corp. 156 117,728 
Mebuki Financial Group, Inc. 44,268 172,099 
Medipal Holdings Corp. 6,700 144,088 
Megachips Corp. 600 19,402 
Megmilk Snow Brand Co. Ltd. 1,800 54,254 
Meidensha Corp. 17,000 67,179 
Meiji Holdings Co. Ltd. 5,000 401,573 
Meitec Corp. 2,400 131,943 
Menicon Co. Ltd. 1,800 47,157 
Micronics Japan Co. Ltd. 100 1,118 
Milbon Co. Ltd. 2,400 104,610 
Minebea Mitsumi, Inc. 16,095 323,461 
Miraca Holdings, Inc. 2,047 79,955 
Mirait Holdings Corp. 2,300 36,482 
Miroku Jyoho Service Co., Ltd. 200 5,708 
Misumi Group, Inc. 11,805 327,197 
Mitsuba Corp. 500 7,327 
Mitsubishi Chemical Holdings Corp. 58,257 553,953 
Mitsubishi Corp. 62,551 1,731,997 
Mitsubishi Electric Corp. 80,392 1,235,810 
Mitsubishi Estate Co. Ltd. 52,471 958,779 
Mitsubishi Gas Chemical Co., Inc. 7,045 165,878 
Mitsubishi Heavy Industries Ltd. 12,766 505,175 
Mitsubishi Logistics Corp. 1,500 34,742 
Mitsubishi Materials Corp. 5,300 161,928 
Mitsubishi Motors Corp. of Japan 28,034 209,255 
Mitsubishi Pencil Co. Ltd. 2,600 51,824 
Mitsubishi Shokuhin Co. Ltd. 100 2,923 
Mitsubishi Tanabe Pharma Corp. 11,109 211,774 
Mitsubishi UFJ Financial Group, Inc. 496,439 3,326,808 
Mitsubishi UFJ Lease & Finance Co. Ltd. 12,300 78,422 
Mitsuboshi Belting Ltd. 1,000 11,443 
Mitsui & Associates Telepark Corp. 300 8,397 
Mitsui & Co. Ltd. 71,782 1,297,815 
Mitsui Chemicals, Inc. 8,500 244,146 
Mitsui Engineering & Shipbuilding Co. 7,000 120,381 
Mitsui Fudosan Co. Ltd. 36,840 947,454 
Mitsui Fudosan Logistics Park, Inc. 17 54,816 
Mitsui High-Tec, Inc. 500 7,377 
Mitsui Mining & Smelting Co. Ltd. 2,300 97,937 
Mitsui OSK Lines Ltd. 4,800 142,481 
Mitsui Sugar Co. Ltd. 700 28,046 
Mitsui-Soko Co. Ltd. (a) 2,000 6,513 
Miura Co. Ltd. 3,155 96,249 
mixi, Inc. 1,500 49,533 
Mizuho Financial Group, Inc. 979,184 1,771,576 
Mizuno Corp. 200 6,486 
Mochida Pharmaceutical Co. Ltd. 900 63,557 
Modec, Inc. 300 7,978 
Monex Group, Inc. 14,500 82,766 
MonotaRO Co. Ltd. 3,100 108,466 
Mori Hills REIT Investment Corp. 114 146,515 
Mori Trust Hotel (REIT), Inc. 15 19,855 
MORI TRUST Sogo (REIT), Inc. 83 123,984 
Morinaga & Co. Ltd. 1,800 87,761 
Morinaga Milk Industry Co. Ltd. 2,700 118,922 
Morita Holdings Corp. 100 1,965 
MOS Food Services, Inc. 400 12,130 
MS&AD Insurance Group Holdings, Inc. 19,897 668,330 
Murata Manufacturing Co. Ltd. 8,034 1,014,263 
Musashi Seimitsu Industry Co. Ltd. 900 31,614 
Nabtesco Corp. 4,900 177,273 
Nachi-Fujikoshi Corp. 5,000 26,070 
Nagaileben Co. Ltd. 1,400 37,100 
Nagase & Co. Ltd. 6,300 107,939 
Nagoya Railroad Co. Ltd. 7,516 197,388 
Nakanishi, Inc. 3,900 81,553 
Namura Shipbuilding Co. Ltd. 500 3,101 
Nankai Electric Railway Co. Ltd. 3,400 90,660 
NanoCarrier Co. Ltd. (a) 200 1,272 
NEC Corp. 12,000 329,857 
NEC System Integration & Constuction Ltd. 100 2,623 
Net One Systems Co. Ltd. 2,800 45,156 
New Hampshire Foods Ltd. 3,713 162,520 
Nexon Co. Ltd. (a) 16,100 234,608 
NGK Insulators Ltd. 11,100 204,292 
NGK Spark Plug Co. Ltd. 9,300 239,901 
NHK Spring Co. Ltd. 8,487 93,782 
Nichi-iko Pharmaceutical Co. Ltd. 500 8,009 
Nichias Corp. 4,000 50,787 
Nichicon Corp. 1,700 19,267 
Nichiha Corp. 600 23,875 
Nichirei Corp. 6,210 179,790 
Nidec Corp. 9,845 1,543,572 
Nifco, Inc. 3,200 112,843 
Nihon Kohden Corp. 3,400 97,503 
Nihon M&A Center, Inc. 6,200 182,053 
Nihon Parkerizing Co. Ltd. 5,100 80,941 
Nihon Unisys Ltd. 2,300 47,948 
Nikkiso Co. Ltd. 2,200 25,095 
Nikkon Holdings Co. Ltd. 3,200 85,445 
Nikon Corp. 15,700 274,018 
Nintendo Co. Ltd. 4,688 1,969,788 
Nippo Corp. 3,400 78,096 
Nippon Accommodations Fund, Inc. 18 80,598 
Nippon Building Fund, Inc. 50 281,284 
Nippon Chemi-con Corp. 500 11,640 
Nippon Densetsu Kogyo Co. Ltd. 600 12,349 
Nippon Electric Glass Co. Ltd. 4,300 124,099 
Nippon Express Co. Ltd. 2,966 224,376 
Nippon Flour Mills Co. Ltd. 500 8,173 
Nippon Gas Co. Ltd. 1,600 79,034 
Nippon Kayaku Co. Ltd. 4,000 50,165 
Nippon Light Metal Holding Co. Ltd. 30,000 80,681 
Nippon Paint Holdings Co. Ltd. 6,297 258,055 
Nippon Paper Industries Co. Ltd. 3,645 69,919 
Nippon Prologis REIT, Inc. 74 155,893 
Nippon REIT Investment Corp. 12 36,498 
Nippon Seiki Co. Ltd. 1,000 19,274 
Nippon Sheet Glass Co. Ltd. (a) 900 7,377 
Nippon Shinyaku Co. Ltd. 2,500 186,608 
Nippon Shokubai Co. Ltd. 900 61,251 
Nippon Signal Co. Ltd. 200 1,901 
Nippon Soda Co. Ltd. 12,000 69,155 
Nippon Steel & Sumikin Bussan Corp. 1,200 65,971 
Nippon Steel & Sumitomo Metal Corp. 32,595 711,115 
Nippon Suisan Kaisha Co. Ltd. 8,100 44,012 
Nippon Telegraph & Telephone Corp. 28,332 1,344,500 
Nippon Yusen KK 6,900 147,316 
Nipro Corp. 4,338 62,657 
Nishi-Nippon Financial Holdings, Inc. 12,500 150,361 
Nishi-Nippon Railroad Co. Ltd. 5,800 161,288 
Nishimatsu Construction Co. Ltd. 1,200 33,096 
Nishimatsuya Chain Co. Ltd. 1,000 12,294 
Nishio Rent All Co. Ltd. 1,200 35,785 
Nissan Chemical Industries Co. Ltd. 5,600 249,726 
Nissan Motor Co. Ltd. 92,948 979,049 
Nissan Shatai Co. Ltd. 2,300 24,658 
Nissha Co. Ltd. 1,900 44,963 
Nisshin Oillio Group Ltd. 800 23,052 
Nisshin Seifun Group, Inc. 7,800 170,741 
Nisshin Steel Co. Ltd. 2,800 37,292 
Nisshinbo Holdings, Inc. 4,100 58,020 
Nissin Electric Co. Ltd. 400 4,032 
Nissin Food Holdings Co. Ltd. 2,900 213,547 
Nissin Kogyo Co. Ltd. 2,000 35,181 
Nitori Holdings Co. Ltd. 3,300 557,849 
Nitta Corp. 100 3,810 
Nitto Boseki Co. Ltd. 1,200 25,993 
Nitto Denko Corp. 6,942 517,538 
Nitto Kogyo Corp. 500 8,612 
NKSJ Holdings, Inc. 14,919 626,401 
Noevir Holdings Co. Ltd. 600 43,249 
NOF Corp. 3,400 101,546 
Nojima Co. Ltd. 1,100 27,238 
NOK Corp. 3,200 65,862 
NOMURA Co. Ltd. 2,400 48,342 
Nomura Holdings, Inc. 149,654 861,940 
Nomura Real Estate Holdings, Inc. 4,900 121,828 
Nomura Real Estate Master Fund, Inc. 169 236,062 
Nomura Research Institute Ltd. 5,270 272,370 
Noritz Corp. 1,500 27,374 
North Pacific Bank Ltd. 23,400 79,199 
NS Solutions Corp. 3,200 92,792 
NSD Co. Ltd. 1,200 25,115 
NSK Ltd. 20,200 271,625 
NTN Corp. 13,000 57,437 
NTT Data Corp. 24,300 262,072 
NTT DOCOMO, Inc. 55,130 1,424,229 
NTT Urban Development Co. 2,500 29,523 
Obara Group, Inc. 800 47,494 
Obayashi Corp. 24,800 286,293 
OBIC Business Consultants Ltd. 300 22,009 
OBIC Co. Ltd. 2,641 221,533 
Odakyu Electric Railway Co. Ltd. 11,400 246,207 
Ogaki Kyoritsu Bank Ltd. 800 20,227 
Ohsho Food Service Corp. 100 5,031 
Oiles Corp. 100 2,169 
Oji Holdings Corp. 34,000 239,480 
Okamoto Industries, Inc. 1,000 10,026 
Okamura Corp. 3,200 43,439 
Okasan Securities Group, Inc. 13,034 74,756 
Oki Electric Industry Co. Ltd. 2,800 37,907 
Okuma Corp. 1,000 57,355 
Okumura Corp. 1,000 41,484 
Olympus Corp. 11,800 440,935 
OMRON Corp. 7,700 418,386 
Ono Pharmaceutical Co. Ltd. 17,380 402,942 
Onward Holdings Co. Ltd. 6,000 49,616 
Open House Co. Ltd. 1,500 83,974 
Optex Group Co. Ltd. 2,400 72,338 
Oracle Corp. Japan 1,500 123,491 
Orient Corp. 7,300 11,285 
Oriental Land Co. Ltd. 8,934 892,011 
ORIX Corp. 55,620 978,896 
ORIX JREIT, Inc. 97 147,913 
Osaka Gas Co. Ltd. 14,700 316,537 
OSG Corp. 2,200 48,862 
Otsuka Corp. 4,300 200,604 
Otsuka Holdings Co. Ltd. 16,518 866,092 
Outsourcing, Inc. 3,300 55,664 
Pacific Industrial Co. Ltd. 200 2,847 
Pacific Metals Co. Ltd. (a) 100 3,522 
PALTAC Corp. 2,000 100,256 
Panasonic Corp. 89,789 1,329,519 
Paramount Bed Holdings Co. Ltd. 1,000 49,762 
Park24 Co. Ltd. 4,840 137,248 
Penta-Ocean Construction Co. Ltd. 10,400 82,291 
Pepper Food Service Co. Ltd. 700 40,468 
PeptiDream, Inc. (a) 3,700 150,274 
Pigeon Corp. 5,200 244,018 
Pilot Corp. 1,600 87,523 
Piolax, Inc. 2,600 73,015 
Pioneer Corp. (a) 5,000 7,821 
Plenus Co. Ltd. 100 1,726 
Pola Orbis Holdings, Inc. 4,189 183,163 
Premier Investment Corp. 135 132,259 
Press Kogyo Co. Ltd. 500 2,891 
Pressance Corp. 200 3,064 
Prestige International, Inc. 800 9,228 
Prima Meat Packers Ltd. 5,000 30,598 
Raito Kogyo Co. Ltd. 200 2,179 
Rakuten, Inc. 37,495 266,461 
Recruit Holdings Co. Ltd. 45,654 1,055,321 
Relia, Inc. 200 2,545 
Relo Group, Inc. 4,200 94,742 
Renesas Electronics Corp. (a)(b) 25,755 270,460 
Rengo Co. Ltd. 12,600 108,573 
Resona Holdings, Inc. 94,100 535,919 
Resorttrust, Inc. 2,800 58,244 
Ricoh Co. Ltd. 28,600 280,192 
Ricoh Leasing Co. Ltd. 300 10,030 
Ringer Hut Co. Ltd. 100 2,433 
Rinnai Corp. 1,861 185,385 
Riso Kagaku Corp. 100 2,005 
ROHM Co. Ltd. 4,000 373,948 
Rohto Pharmaceutical Co. Ltd. 4,600 134,440 
Round One Corp. 2,100 30,582 
Royal Holdings Co. Ltd. 100 2,723 
Ryobi Ltd. 1,500 38,310 
Ryohin Keikaku Co. Ltd. 983 337,648 
Ryosan Co. Ltd. 200 7,464 
Saizeriya Co. Ltd. 1,600 37,073 
Sakai Moving Service Co. Ltd. 400 21,698 
Sakata INX Corp. 1,600 24,501 
Sakata Seed Corp. 700 25,709 
San-A Co. Ltd. 1,000 53,330 
San-Ai Oil Co. Ltd. 2,200 34,694 
Sanden Holdings Corp. (a) 200 2,920 
Sangetsu Corp. 1,000 20,682 
Sanken Electric Co. Ltd. 9,000 57,958 
Sanki Engineering Co. Ltd. 2,100 23,436 
Sankyo Co. Ltd. (Gunma) 3,400 119,585 
Sankyo Tateyama, Inc. 400 5,942 
Sankyu, Inc. 2,500 121,661 
Sanrio Co. Ltd. 900 16,605 
Santen Pharmaceutical Co. Ltd. 14,360 242,355 
Sanwa Holdings Corp. 5,800 74,755 
Sanyo Chemical Industries Ltd. 100 4,729 
Sanyo Special Steel Co. Ltd. 1,200 30,615 
Sapporo Breweries Ltd. 3,800 108,800 
Sato Holding Corp. 1,700 47,818 
Sawai Pharmaceutical Co. Ltd. 2,700 117,069 
SBI Holdings, Inc. Japan 9,200 232,861 
Screen Holdings Co. Ltd. 1,500 123,628 
SCSK Corp. 1,800 77,223 
Secom Co. Ltd. 8,133 610,198 
Sega Sammy Holdings, Inc. 8,019 131,743 
Seibu Holdings, Inc. 11,200 189,433 
Seikagaku Corp. 2,200 36,566 
Seiko Epson Corp. 11,773 221,309 
Seiko Holdings Corp. 3,200 83,630 
Seino Holdings Co. Ltd. 7,000 131,458 
Seiren Co. Ltd. 4,100 79,285 
Sekisui Chemical Co. Ltd. 18,400 326,528 
Sekisui House (REIT), Inc. 87 56,106 
Sekisui House Ltd. 25,980 476,371 
Sekisui House SI Residential Investment Corp. 30 31,922 
Sekisui Jushi Corp. 3,100 67,660 
SENKO Co. Ltd. 3,300 25,417 
Senshu Ikeda Holdings, Inc. 17,690 69,906 
Septeni Holdings Co. Ltd. 1,000 2,580 
Seria Co. Ltd. 2,000 98,061 
Seven & i Holdings Co. Ltd. 30,529 1,345,133 
Seven Bank Ltd. 16,000 53,860 
Sharp Corp. (b) 6,300 185,277 
Shibuya Corp. 200 6,851 
Shiga Bank Ltd. 5,000 25,338 
Shikoku Electric Power Co., Inc. 8,900 113,245 
Shima Seiki Manufacturing Ltd. 1,200 76,400 
Shimachu Co. Ltd. 2,900 93,775 
Shimadzu Corp. 9,500 258,617 
Shimamura Co. Ltd. 1,200 139,956 
SHIMANO, Inc. 3,165 420,958 
SHIMIZU Corp. 22,600 224,098 
Shin-Etsu Chemical Co. Ltd. 16,135 1,624,274 
Shinko Electric Industries Co. Ltd. 1,800 14,111 
Shinmaywa Industries Ltd. 1,000 11,233 
Shinsei Bank Ltd. 10,100 157,801 
Shionogi & Co. Ltd. 12,200 628,749 
Ship Healthcare Holdings, Inc. 2,800 97,457 
Shiseido Co. Ltd. 15,755 1,024,969 
Shizuoka Bank Ltd. 29,000 294,987 
Shizuoka Gas Co. Ltd. 3,800 34,413 
SHO-BOND Holdings Co. Ltd. 1,600 121,186 
Shochiku Co. Ltd. 800 117,673 
Showa Corp. 3,200 47,947 
Showa Denko K.K. 5,982 200,002 
Showa Sangyo Co. Ltd. 200 5,295 
Showa Shell Sekiyu K.K. 7,000 99,058 
Siix Corp. 1,400 28,187 
Sintokogio Ltd. 600 6,422 
SKY Perfect JSAT Holdings, Inc. 3,000 13,694 
Skylark Co. Ltd. 9,100 134,019 
SMC Corp. 2,367 903,323 
SMS Co., Ltd. 1,100 41,758 
Sodick Co. Ltd. 600 7,431 
SoftBank Corp. 34,501 2,636,177 
Sohgo Security Services Co., Ltd. 3,100 153,412 
Sojitz Corp. 49,100 162,140 
Sony Corp. 52,805 2,466,317 
Sony Financial Holdings, Inc. 8,200 149,943 
Sosei Group Corp. (a) 928 64,345 
Sotetsu Holdings, Inc. 2,200 63,191 
Square Enix Holdings Co. Ltd. 3,700 154,336 
St. Marc Holdings Co. Ltd. 100 2,836 
Stanley Electric Co. Ltd. 6,339 229,913 
Star Micronics Co. Ltd. 2,800 50,304 
Start Today Co. Ltd. 8,200 237,029 
Starts Corp., Inc. 500 13,836 
Subaru Corp. 25,525 859,005 
Sugi Holdings Co. Ltd. 1,100 64,197 
Sumco Corp. 9,800 242,221 
Sumitomo Bakelite Co. Ltd. 12,000 108,672 
Sumitomo Chemical Co. Ltd. 67,000 385,501 
Sumitomo Corp. 48,500 873,772 
Sumitomo Electric Industries Ltd. 31,000 476,258 
Sumitomo Forestry Co. Ltd. 6,123 101,770 
Sumitomo Heavy Industries Ltd. 5,347 204,939 
Sumitomo Metal Mining Co. Ltd. 10,100 434,045 
Sumitomo Mitsui Construction Co. Ltd. 3,060 18,754 
Sumitomo Mitsui Financial Group, Inc. 55,633 2,318,687 
Sumitomo Mitsui Trust Holdings, Inc. 13,600 577,988 
Sumitomo Osaka Cement Co. Ltd. 14,036 64,325 
Sumitomo Realty & Development Co. Ltd. 14,787 588,261 
Sumitomo Riko Co. Ltd. 500 5,237 
Sumitomo Rubber Industries Ltd. 6,100 109,200 
Sumitomo Seika Chemicals Co. Ltd. 100 4,793 
Sundrug Co. Ltd. 2,741 141,162 
Suntory Beverage & Food Ltd. 5,700 281,037 
Sushiro Global Holdings Ltd. 1,500 77,936 
Suzuken Co. Ltd. 4,600 198,189 
Suzuki Motor Corp. 14,440 778,138 
Sysmex Corp. 6,500 575,558 
SystemPro Co. Ltd. 900 34,248 
T&D Holdings, Inc. 22,400 380,915 
Tachi-S Co. Ltd. 1,100 19,973 
Tadano Ltd. 3,500 54,107 
Taiheiyo Cement Corp. 4,791 181,657 
Taikisha Ltd. 1,100 38,438 
Taisei Corp. 8,100 437,898 
Taisho Pharmaceutical Holdings Co. Ltd. 2,000 191,914 
Taiyo Holdings Co. Ltd. 500 21,336 
Taiyo Nippon Sanso Corp. 3,900 57,901 
Taiyo Yuden Co. Ltd. 3,100 55,268 
Takara Bio, Inc. 3,100 60,429 
Takara Holdings, Inc. 11,769 142,322 
Takara Leben Co. Ltd. 300 1,276 
Takara Standard Co. Ltd. 1,200 20,417 
Takasago International Corp. 100 3,124 
Takasago Thermal Engineering Co. Ltd. 500 9,509 
Takashimaya Co. Ltd. 14,000 120,381 
Takeda Pharmaceutical Co. Ltd. 29,921 1,259,975 
Takeuchi Manufacturing Co. Ltd. 1,300 29,860 
Takuma Co. Ltd. 3,000 32,986 
Tamron Co. Ltd. 300 6,098 
TDK Corp. 5,381 465,152 
TechnoPro Holdings, Inc. 1,800 104,720 
TECMO KOEI HOLDINGS CO., LTD. 400 8,266 
Teijin Ltd. 7,600 143,282 
Tekken Corp. 100 3,000 
Temp Holdings Co., Ltd. 8,200 195,249 
Terumo Corp. 13,400 759,971 
The Aichi Bank Ltd. 100 4,784 
The Aomori Bank Ltd. 1,000 31,239 
The Awa Bank Ltd. 21,000 137,541 
The Bank of Iwate Ltd. 2,200 86,334 
The Bank of Okinawa Ltd. 500 21,039 
The Bank of Saga Ltd. 300 6,894 
The Chugoku Bank Ltd. 10,700 124,403 
The Chukyo Bank Ltd. 1,400 30,159 
The Daishi Bank Ltd., Niigata 1,792 80,486 
The Eighteenth Bank Ltd. 1,000 2,653 
The Hachijuni Bank Ltd. 12,800 67,794 
The Hokkoku Bank Ltd. 500 19,987 
The Hokuetsu Bank Ltd. 100 2,222 
The Hyakugo Bank Ltd. 7,000 32,720 
The Keiyo Bank Ltd. 6,000 27,497 
The Kiyo Bank Ltd. 1,800 29,358 
The Miyazaki Bank Ltd. 100 3,243 
The Musashino Bank Ltd. 900 30,008 
The Nanto Bank Ltd. 500 13,904 
The Oita Bank Ltd. 1,000 36,727 
The Okinawa Electric Power Co., Inc. 1,430 43,559 
The Pack Corp. 300 11,375 
The San-In Godo Bank Ltd. 4,500 42,440 
The Shikoku Bank Ltd. 200 2,925 
The Sumitomo Warehouse Co. Ltd. 1,000 6,870 
The Suruga Bank Ltd. 7,900 107,530 
The Tochigi Bank Ltd. 400 1,518 
The Toho Bank Ltd. 9,000 34,989 
The Towa Bank Ltd. 1,400 18,710 
The Yamagata Bank Ltd. 200 4,424 
The Yamanashi Chuo Bank Ltd. 17,000 75,265 
THK Co. Ltd. 5,300 185,684 
TKC Corp. 1,400 56,028 
Toagosei Co. Ltd. 9,400 111,352 
Tobu Railway Co. Ltd. 8,800 280,937 
Toc Co. Ltd. 2,400 21,295 
Tocalo Co. Ltd. 3,600 44,885 
Toda Corp. 11,000 90,962 
Toei Co. Ltd. 100 11,242 
Toho Co. Ltd. 6,300 210,922 
Toho Gas Co. Ltd. 3,500 106,293 
Toho Holdings Co. Ltd. 1,200 29,374 
Toho Zinc Co. Ltd. 1,000 46,469 
Tohoku Electric Power Co., Inc. 22,100 285,246 
Tokai Carbon Co. Ltd. 8,000 100,622 
TOKAI Holdings Corp. 3,000 30,516 
Tokai Rika Co. Ltd. 2,100 42,069 
Tokai Tokyo Financial Holdings 9,400 68,359 
Token Corp. 200 19,155 
Tokio Marine Holdings, Inc. 27,693 1,310,174 
Tokushu Tokai Paper Co. Ltd. 400 15,679 
Tokuyama Corp. 2,935 87,658 
Tokyo Broadcasting System Holding 700 15,585 
Tokyo Century Corp. 2,000 125,137 
Tokyo Dome Corp. 9,900 96,356 
Tokyo Electric Power Co., Inc. (a) 55,228 263,207 
Tokyo Electron Ltd. 6,523 1,256,328 
Tokyo Gas Co. Ltd. 16,135 432,746 
Tokyo Ohka Kogyo Co. Ltd. 2,000 70,527 
Tokyo Seimitsu Co. Ltd. 2,800 107,190 
Tokyo Steel Manufacturing Co. Ltd. 4,700 39,339 
Tokyo Tatemono Co. Ltd. 8,800 134,190 
Tokyo TY Financial Group, Inc. 1,500 39,695 
Tokyotokeiba Co. Ltd. 1,200 46,213 
Tokyu Construction Co. Ltd. 2,500 26,802 
Tokyu Corp. 20,500 345,230 
Tokyu Fudosan Holdings Corp. 19,300 152,183 
Tokyu REIT, Inc. 19 25,584 
TOMONY Holdings, Inc. 3,900 17,445 
Tomy Co. Ltd. 2,500 24,607 
Topcon Corp. 3,760 74,980 
Toppan Forms Co. Ltd. 300 3,351 
Toppan Printing Co. Ltd. 31,000 259,751 
Topre Corp. 4,000 125,869 
Topy Industries Ltd. 100 2,968 
Toray Industries, Inc. 62,900 587,145 
TORIDOLL Holdings Corp. 800 26,894 
Toshiba Corp. (a) 271,527 727,748 
Toshiba Machine Co. Ltd. 5,000 33,297 
Toshiba Plant Systems & Services Corp. 4,600 96,191 
Toshiba Tec Corp. 14,000 80,168 
Tosho Co. Ltd. 200 7,364 
Tosoh Corp. 13,100 232,713 
Totetsu Kogyo Co. Ltd. 400 11,965 
Toto Ltd. 5,900 335,154 
Towa Pharmaceutical Co. Ltd. 100 6,367 
Toyo Engineering Corp. 200 2,086 
Toyo Ink South Carolina Holdings Co. Ltd. 22,749 140,673 
Toyo Seikan Group Holdings Ltd. 8,400 132,393 
Toyo Suisan Kaisha Ltd. 4,036 159,121 
Toyo Tire & Rubber Co. Ltd. 7,200 123,161 
Toyobo Co. Ltd. 3,200 62,466 
Toyoda Gosei Co. Ltd. 5,700 144,638 
Toyota Boshoku Corp. 1,800 37,986 
Toyota Industries Corp. 7,000 414,288 
Toyota Motor Corp. 108,492 7,114,081 
Toyota Tsusho Corp. 7,849 282,527 
TPR Co. Ltd. 1,200 36,498 
Trancom Co. Ltd. 100 7,592 
Trans Cosmos, Inc. 300 8,315 
Trend Micro, Inc. 4,600 276,034 
Trusco Nakayama Corp. 3,200 84,244 
TS tech Co. Ltd. 1,600 65,203 
TSI Holdings Co. Ltd. 5,300 42,421 
Tsubaki Nakashima Co. Ltd. 3,400 80,428 
Tsubakimoto Chain Co. 6,000 52,141 
Tsugami Corp. 4,000 48,445 
Tsukui Corp. 600 4,748 
Tsumura & Co. 2,084 75,872 
Tsuruha Holdings, Inc. 1,500 215,834 
TV Asahi Corp. 100 2,353 
Uacj Corp. 1,600 41,698 
Ube Industries Ltd. 4,400 134,431 
Ulvac, Inc. 1,959 105,548 
Unicharm Corp. 16,100 452,868 
Unipres Corp. 1,800 42,596 
United Arrows Ltd. 400 14,764 
United Super Markets Holdings, Inc. 2,500 32,885 
United Technology Holdings Co. Ltd. (a) 1,500 41,507 
United Urban Investment Corp. 116 178,053 
Unitika Ltd. (a) 300 1,981 
Universal Entertainment Corp. 1,000 47,567 
Unizo Holdings Co. Ltd. 100 2,392 
Ushio, Inc. 3,100 43,783 
USS Co. Ltd. 8,500 178,911 
V Technology Co. Ltd. 200 52,360 
Valor Holdings Co. Ltd. 4,400 122,960 
Vector, Inc. 900 17,420 
VT Holdings Co. Ltd. 400 1,826 
W-Scope Corp. 800 11,936 
Wacoal Holdings Corp. 2,000 60,739 
Wacom Co. Ltd. 4,200 21,284 
Welcia Holdings Co. Ltd. 3,100 159,651 
West Japan Railway Co. 6,956 493,130 
Xebio Holdings Co. Ltd. 500 9,445 
YA-MAN Ltd. 1,600 34,907 
Yahoo! Japan Corp. 60,865 250,542 
Yakult Honsha Co. Ltd. 4,600 328,211 
YAMABIKO Corp. 200 2,874 
Yamada Denki Co. Ltd. 27,810 146,020 
Yamaguchi Financial Group, Inc. 16,000 200,220 
Yamaha Corp. 7,100 343,569 
Yamaha Motor Co. Ltd. 12,807 410,030 
Yamato Holdings Co. Ltd. 14,300 368,553 
Yamato Kogyo Co. Ltd. 3,800 112,971 
Yamazaki Baking Co. Ltd. 7,300 160,130 
Yamazen Co. Ltd. 300 3,041 
Yaoko Co. Ltd. 400 22,247 
Yaskawa Electric Corp. 10,400 425,247 
Yodogawa Steel Works Ltd. 900 25,727 
Yokogawa Bridge Holdings Corp. 2,300 50,263 
Yokogawa Electric Corp. 9,012 199,003 
Yokohama Reito Co. Ltd. 800 8,123 
Yokohama Rubber Co. Ltd. 6,300 148,971 
Yondoshi Holdings, Inc. 1,600 39,458 
YONEX Co. Ltd. 400 2,236 
Yoshinoya Holdings Co. Ltd. 2,300 42,773 
Yuasa Trading Co. Ltd. 400 12,825 
Zenkoku Hosho Co. Ltd. 2,500 103,481 
Zenrin Co. Ltd. 1,050 21,236 
Zensho Holdings Co. Ltd. 6,300 146,839 
Zeon Corp. 6,000 77,991 
ZERIA Pharmaceutical Co. Ltd. 2,300 47,317 
Zojirushi Thermos 600 8,079 
TOTAL JAPAN  186,916,791 
Korea (South) - 3.7%   
Advanced Process Systems Corp. (a) 72 1,553 
AhnLab, Inc. 84 5,028 
AMOREPACIFIC Corp. 1,380 449,723 
AMOREPACIFIC Group, Inc. 1,471 196,422 
Asiana Airlines, Inc. (a) 10,253 50,742 
BGF Retail Co. Ltd. 506 90,245 
BGFretail Co. Ltd. 304 3,605 
BS Financial Group, Inc. 16,547 161,464 
Bukwang Pharmaceutical Co. Ltd. 1,599 38,821 
Celltrion Healthcare Co. Ltd. 1,493 125,192 
Celltrion Pharm, Inc. 791 64,186 
Celltrion, Inc. 3,385 856,582 
Cheil Industries, Inc. 3,452 451,273 
Cheil Worldwide, Inc. 1,563 27,876 
Chong Kun Dang Pharmaceutical Corp. 163 17,808 
CJ CGV Co. Ltd. 1,440 99,906 
CJ CheilJedang Corp. 476 152,455 
CJ Corp. 834 126,549 
CJ E&M Corp. 1,425 120,422 
CJ O Shopping Co. Ltd. 169 35,286 
Com2uS Corp. 659 98,457 
Cosmax, Inc. 761 111,564 
Coway Co. Ltd. 2,291 187,186 
Daelim Industrial Co. 2,063 165,668 
Daesang Corp. 710 17,635 
Daewoo Engineering & Construction Co. Ltd. (a) 8,142 48,278 
Daewoong Pharmaceutical Co. Ltd. 322 53,520 
Daou Technology, Inc. 1,864 42,034 
Db Insurance Co. Ltd. 3,542 208,037 
DGB Financial Group Co. Ltd. 9,863 110,518 
DIO Corp. (a) 21 818 
Dong Suh Companies, Inc. 448 11,525 
Dong-A Socio Holdings Co. Ltd. 706 
Dongbu HiTek Co. Ltd. 1,070 13,438 
Dongkuk Steel Mill Co. Ltd. 3,645 37,440 
Dongwon Industries Co. 2,841 
Doosan Bobcat, Inc. 975 29,680 
Doosan Heavy Industries & Construction Co. Ltd. 4,885 81,650 
Doosan Infracore Co. Ltd. (a) 8,372 80,130 
DOUBLEUGAMES Co. Ltd. 331 19,317 
DuzonBizon Co. Ltd. 1,292 59,598 
E-Mart Co. Ltd. 884 222,873 
Ecopro Co. Ltd. (a) 1,658 56,199 
EO Technics Co. Ltd. 146 10,252 
Fila Korea Ltd. 535 65,194 
Foosung Co. Ltd. (a) 328 2,885 
G-treeBNT Co. Ltd. (a) 987 43,501 
GemVax & Kael Co. Ltd. (a) 176 3,155 
Genexine Co. Ltd. (a) 932 95,904 
Grand Korea Leisure Co. Ltd. 2,509 63,959 
Green Cross Corp. 278 56,201 
Green Cross Holdings Corp. 407 14,518 
GS Engineering & Construction Corp. 4,986 189,956 
GS Holdings Corp. 1,825 104,463 
GS Retail Co. Ltd. 2,772 96,289 
Halla Holdings Corp. 157 7,506 
Hana Financial Group, Inc. 12,790 570,276 
Hana Tour Service, Inc. 861 95,673 
HanAll BioPharma Co. Ltd. (a) 1,336 38,112 
Handsome Co. Ltd. 125 3,875 
Hanjin Kal Corp. 2,719 62,204 
Hankook Tire Co. Ltd. 3,713 171,448 
Hankook Tire Worldwide Co. Ltd. 144 2,461 
Hanmi Pharm Co. Ltd. 305 132,717 
Hanmi Science Co. Ltd. 660 47,947 
Hanon Systems 6,645 67,634 
Hansae Co. Ltd. 90 1,899 
Hansol Chemical Co. Ltd. 46 3,037 
Hanssem Co. Ltd. 376 40,903 
Hanwha Chemical Corp. 6,545 176,929 
Hanwha Corp. 1,560 58,195 
Hanwha Life Insurance Co. Ltd. 12,105 70,420 
Hanwha Techwin Co. Ltd. (a) 1,726 38,842 
Hite Jinro Co. Ltd. 2,113 43,013 
HLB, Inc. (a) 1,246 141,363 
Homecast Co. Ltd. (a) 104 936 
Hotel Shilla Co. 1,390 150,561 
Huchems Fine Chemical Corp. 136 3,378 
HUGEL, Inc. (a) 80 37,702 
Hyosung Corp. 729 89,515 
Hyundai Construction Equipment Co. Ltd. 174 30,871 
Hyundai Department Store Co. Ltd. 1,235 119,357 
Hyundai Electric & Energy System Co. Ltd. 54 4,740 
Hyundai Elevator Co. Ltd. 1,002 97,307 
Hyundai Engineering & Construction Co. Ltd. 4,299 255,309 
Hyundai Fire & Marine Insurance Co. Ltd. 2,065 73,755 
Hyundai Glovis Co. Ltd. 1,230 193,529 
Hyundai Greenfood Co. Ltd. 1,111 15,976 
Hyundai Heavy Industries Co. Ltd. (a) 1,708 190,589 
Hyundai Home Shopping Network Corp. 100 10,131 
Hyundai Industrial Development & Construction Co. (d) 2,332 101,039 
Hyundai Merchant Marine Co. Ltd. (a) 17,796 100,868 
Hyundai Mipo Dockyard Co. Ltd. (a) 510 42,622 
Hyundai Mobis 2,841 657,906 
Hyundai Motor Co. 6,800 1,015,944 
Hyundai Robotics Co. Ltd. 380 149,917 
Hyundai Rotem Co. Ltd. (a) 47 1,172 
Hyundai Steel Co. 4,123 233,307 
Hyundai Wia Corp. 1,099 55,108 
Iljin Materials Co. Ltd. 437 13,650 
Illinois-Yang Pharmaceutical Co. Ltd. 24 919 
Industrial Bank of Korea 11,646 183,239 
ING Life Insurance Korea Ltd. (c) 2,082 80,097 
INNOCEAN Worldwide, Inc. 16 992 
iNtRON Biotechnology, Inc. (a) 998 41,843 
IS Dongseo Co. Ltd. 24 733 
JB Financial Group Co. Ltd. 10,696 61,424 
Jeil Pharmaceutical Co. Ltd. 60 2,258 
Jenax, Inc. (a) 1,126 29,703 
JW Holdings Corp. 118 954 
JW Pharmaceutical Corp. 102 3,962 
Kakao Corp. 1,883 195,171 
Kakao M Corp. 493 41,201 
Kangwon Land, Inc. 4,549 122,759 
KB Financial Group, Inc. 16,545 937,482 
KC Tech Co. Ltd. 264 5,054 
KC Tech Co. Ltd. 387 7,661 
KCC Corp. 369 134,724 
KEPCO Plant Service & Engineering Co. Ltd. 1,160 54,917 
Kia Motors Corp. 12,246 378,498 
Kiwoom Securities Co. Ltd. 1,216 134,553 
Koh Young Technology, Inc. 946 89,925 
Kolon Industries, Inc. 569 36,342 
Kolon Life Science, Inc. 175 12,991 
Komipharm International Co. Ltd. (a) 2,473 90,060 
Korea Aerospace Industries Ltd. 2,771 111,779 
Korea Electric Power Corp. 10,013 349,332 
Korea Electric Terminal Co. Ltd. 40 1,890 
Korea Express Co. Ltd. (a) 197 28,789 
Korea Gas Corp. (a) 1,263 64,629 
Korea Investment Holdings Co. Ltd. 1,599 136,022 
Korea Kolmar Co. Ltd. 356 27,192 
Korea Petro Chemical Industries Co. Ltd. 202 51,965 
Korea Real Estate Investment Trust Co. 960 2,761 
Korea Zinc Co. Ltd. 409 165,559 
Korean Air Lines Co. Ltd. 2,873 91,615 
Korean Reinsurance Co. 3,067 33,794 
KT Corp. 90 2,282 
KT Corp. sponsored ADR 640 8,595 
KT Skylife Co. Ltd. 136 1,587 
KT&G Corp. 5,524 504,468 
Kumho Petro Chemical Co. Ltd. 922 92,551 
Kumho Tire Co., Inc. (a) 6,369 36,992 
Kwangju Bank Co. Ltd. 223 2,332 
LG Chemical Ltd. 1,842 619,203 
LG Corp. 3,711 281,030 
LG Display Co. Ltd. 12,325 268,383 
LG Electronics, Inc. 4,601 438,221 
LG Fashion Corp. 1,267 33,363 
LG Hausys Ltd. 145 11,021 
LG Home Shopping, Inc. 38 6,171 
LG Household & Health Care Ltd. 379 484,843 
LG Innotek Co. Ltd. 911 99,103 
LG International Corp. 1,950 48,162 
Lotte Chemical Corp. 660 255,144 
Lotte Chilsung Beverage Co. Ltd. 16 24,203 
Lotte Confectionery Co. Ltd. 23 4,081 
Lotte Confectionery Co. Ltd. 1,762 107,109 
Lotte Fine Chemical Co. Ltd. 1,033 66,171 
LOTTE Hi-Mart Co. Ltd. 97 6,748 
Lotte Samkang Co. Ltd. 696 
Lotte Shopping Co. Ltd. 562 134,344 
LS Cable Ltd. 839 61,030 
LS Industrial Systems Ltd. 338 21,651 
Mando Corp. 327 69,313 
Medipost Co. Ltd. (a) 320 37,321 
Medy-Tox, Inc. 157 102,270 
Meritz Financial Holdings Co. 497 6,474 
Meritz Fire & Marine Insurance Co. Ltd. 1,224 23,945 
Meritz Securities Co. Ltd. 30,015 116,733 
Mirae Asset Daewoo Co. Ltd. 17,391 158,820 
Mirae Asset Life Insurance Co. Ltd. 883 4,510 
NAVER Corp. 1,174 784,914 
NCSOFT Corp. 707 237,664 
Netmarble Corp. (c) 1,103 151,918 
Nexen Corp. 3,437 23,075 
Nexen Tire Corp. 309 3,477 
NHN Entertainment Corp. (a) 450 25,884 
Nong Shim Co. Ltd. 55 16,640 
Oci Co. Ltd. 881 128,334 
Orion Corp./Republic of Korea 792 92,074 
Orion Holdings Corp. 184 4,209 
Osstem Implant Co. Ltd. (a) 126 6,471 
Ottogi Corp. 19 14,087 
Paradise Co. Ltd. 2,531 55,185 
Partron Co. Ltd. 892 7,005 
Poongsan Corp. 1,184 42,178 
POSCO 3,089 1,061,491 
POSCO Chemtech Co. Ltd. 1,079 37,077 
Posco Daewoo Corp. 1,030 21,688 
S&T Motiv Co. Ltd. 21 643 
S-Oil Corp. 1,872 192,282 
S.M. Entertainment Co. Ltd. (a) 1,057 35,285 
S1 Corp. 1,567 143,542 
Samlip General Food Co. Ltd. 19 2,289 
Samsung Biologics Co. Ltd. (a)(c) 703 320,344 
Samsung Card Co. Ltd. 273 9,509 
Samsung Electro-Mechanics Co. Ltd. 2,256 249,631 
Samsung Electronics Co. Ltd. 3,910 9,688,980 
Samsung Engineering Co. Ltd. (a) 8,488 142,269 
Samsung Fire & Marine Insurance Co. Ltd. 1,426 356,192 
Samsung Heavy Industries Co. Ltd. (a) 17,146 117,677 
Samsung Life Insurance Co. Ltd. 3,212 350,915 
Samsung SDI Co. Ltd. 2,331 399,410 
Samsung SDS Co. Ltd. 1,450 331,723 
Samsung Securities Co. Ltd. 3,201 110,892 
Samyang Holdings Corp. 20 2,073 
Sebang Global Battery Co. Ltd. 44 1,335 
Seegene, Inc. (a) 124 4,041 
Seoul Semiconductor Co. Ltd. 3,465 61,475 
SFA Engineering Corp. 764 23,150 
Shinhan Financial Group Co. Ltd. 18,958 841,870 
Shinsegae Co. Ltd. 400 155,940 
SillaJen, Inc. (a) 2,196 172,452 
SK C&C Co. Ltd. 1,237 339,592 
SK Chemicals Co. Ltd. 563 22,422 
SK Chemicals Co. Ltd./New (a) 604 57,246 
SK Energy Co. Ltd. 2,936 538,716 
SK Gas Co. Ltd. 28 2,455 
SK Hynix, Inc. 24,141 1,904,815 
SK Materials Co., Ltd. 159 22,879 
SK Networks Co. Ltd. 2,149 11,278 
SK Securities Co. Ltd. (a) 9,793 11,110 
SK Telecom Co. Ltd. 1,060 225,875 
SKC Co. Ltd. 1,350 48,029 
Soulbrain Co. Ltd. 328 18,070 
Ssangyong Cement Industrial Co. Ltd. 2,044 56,973 
STX Pan Ocean Co. Ltd. (Korea) (a) 6,095 31,302 
Taekwang Industrial Co. Ltd. 2,424 
Telcon, Inc. (a) 2,567 33,917 
Texcell-NetCom Co. Ltd. (a) 1,752 35,664 
Tong Yang Life Insurance Co. Ltd. 381 2,932 
Tongyang, Inc. 451 926 
Toptec Co. Ltd. 877 21,824 
Vieworks Co. Ltd. 36 1,304 
ViroMed Co. Ltd. (a) 589 119,073 
WONIK IPS Co. Ltd. 486 15,520 
Woori Bank 20,754 311,041 
Woori Investment & Securities Co. Ltd. 13,695 199,493 
Youngone Corp. 229 6,394 
Yuhan Corp. 256 54,741 
YUNGJIN Pharmaceutical Co. Ltd. (a) 5,131 41,108 
TOTAL KOREA (SOUTH)  39,316,242 
Luxembourg - 0.3%   
ADO Properties SA (c) 1,507 82,913 
Aperam 3,386 165,070 
ArcelorMittal SA (Netherlands) 28,024 950,785 
B&M European Value Retail S.A. 32,936 183,775 
Eurofins Scientific SA 510 275,789 
Grand City Properties SA 5,522 133,367 
Millicom International Cellular SA (depository receipt) 2,517 167,864 
PLAY Communications SA (c) 7,880 66,545 
RTL Group SA 2,147 176,953 
SAF-Holland SA 3,387 63,152 
Senvion SA (a) 939 12,337 
SES SA (France) (depositary receipt) 15,621 241,458 
Solutions 30 SE (a) 1,361 67,550 
Subsea 7 SA 11,436 160,657 
Tenaris SA 19,288 361,481 
TOTAL LUXEMBOURG  3,109,696 
Malaysia - 0.6%   
AEON Credit Service Bhd 450 1,498 
AirAsia Group BHD 43,900 42,909 
Alliance Bank Malaysia Bhd 40,000 44,182 
AMMB Holdings Bhd 63,200 62,452 
Astro Malaysia Holdings Bhd (c) 91,400 44,287 
Axiata Group Bhd 118,512 159,097 
Berjaya Sports Toto Bhd 6,300 3,370 
British American Tobacco (Malaysia) Bhd 8,200 51,155 
Bumi Armada Bhd (a) 81,700 17,423 
Bumiputra-Commerce Holdings Bhd 240,263 438,092 
Bursa Malaysia Bhd 25,200 46,257 
Cahya Mata Sarawak Bhd 36,300 37,322 
Carlsberg Brewery BHD 6,000 30,253 
Dialog Group Bhd 155,100 121,262 
DiGi.com Bhd 103,800 121,899 
Felda Global Ventures Holdings Bhd (c) 123,800 53,606 
Gamuda Bhd 78,400 102,424 
Genting Bhd 91,600 208,129 
Genting Malaysia Bhd 126,000 164,132 
Genting Plantations Bhd 5,700 14,394 
Hap Seng Consolidated Bhd 35,500 88,377 
Hartalega Holdings Bhd 62,000 92,321 
Hong Leong Bank Bhd 27,300 131,684 
Hong Leong Credit Bhd 7,900 39,021 
IGB (REIT) 92,500 37,541 
IHH Healthcare Bhd (c) 95,100 147,000 
IJM Corp. Bhd 125,600 95,133 
Inari Amertron Bhd 72,450 31,397 
IOI Corp. Bhd 78,900 95,905 
IOI Properties Group Bhd 134,175 53,310 
Kossan Rubber Industries Bhd 14,900 25,306 
KPJ Healthcare Bhd 198,000 46,749 
Kuala Lumpur Kepong Bhd 25,100 162,753 
Lafarge Malaysia Bhd (a) 17,400 18,659 
Mah Sing Group Bhd 78,600 20,375 
Malayan Banking Bhd 176,850 485,076 
Malaysia Airports Holdings Bhd 33,800 77,475 
Malaysia Building Society Bhd 98,258 28,695 
Maxis Bhd 78,000 115,577 
MISC Bhd 93,300 169,501 
My E.G.Services Bhd 142,050 94,240 
Nestle (Malaysia) BHD 5,100 179,242 
Osk Holdings Bhd 3,750 952 
Petronas Chemicals Group Bhd 94,500 203,126 
Petronas Dagangan Bhd 13,700 94,091 
Petronas Gas Bhd 27,400 124,036 
POS Malaysia & Services Holding BHD 2,300 2,155 
PPB Group Bhd 16,700 81,757 
Press Metal Bhd 60,000 73,240 
Public Bank Bhd 118,300 716,195 
QL Resources Bhd 17,550 22,968 
RHB Capital Bhd 61,100 82,198 
SapuraKencana Petroleum Bhd 144,500 23,275 
Sime Darby Bhd 77,089 52,233 
Sime Darby Plantation Bhd 99,689 141,388 
Sime Darby Property Bhd 77,089 29,223 
SP Setia Bhd 73,395 59,458 
Sunway (REIT) 92,800 38,065 
Sunway Bhd 66,320 25,451 
Telekom Malaysia Bhd 59,300 79,805 
Tenaga Nasional Bhd 140,300 565,231 
TIME dotCom Bhd 14,400 29,310 
Top Glove Corp. Bhd 25,800 62,314 
UEM Land Holdings Bhd 9,900 2,320 
UMW Holdings Bhd (a) 33,700 52,348 
UMW Oil & Gas Corp. Bhd (a) 26,254 1,787 
UOA Development Bhd 4,000 2,473 
Westports Holdings Bhd 100,200 84,699 
Yinson Holdings Bhd 23,500 23,637 
YTL Corp. Bhd 207,534 76,316 
YTL Power International Bhd 60,588 14,156 
TOTAL MALAYSIA  6,763,687 
Malta - 0.0%   
Brait SA 18,088 62,502 
Kindred Group PLC (depositary receipt) 8,729 113,092 
TOTAL MALTA  175,594 
Marshall Islands - 0.0%   
Seaspan Corp. (b) 665 5,114 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 246,700 63,966 
Mexico - 0.7%   
Alfa SA de CV Series A 113,000 145,071 
Alsea S.A.B. de CV 15,211 56,575 
America Movil S.A.B. de CV Series L 1,410,096 1,305,138 
Banco del Bajio SA (c) 54,900 117,097 
Banco Santander Mexico SA 91,600 135,769 
Bolsa Mexicana de Valores S.A.B. de CV 23,900 46,108 
CEMEX S.A.B. de CV unit 593,532 371,314 
Coca-Cola FEMSA S.A.B. de CV Series L 26,400 171,412 
Compartamos S.A.B. de CV 74,100 59,234 
Concentradora Fibra Danhos SA de CV 1,300 2,312 
Concentradora Fibra Hotelera Mexicana SA de CV (c) 47,600 29,600 
Controladora Comercial Mexicana S.A.B de C.V. (a) 23,100 24,345 
Controladora Vuela Compania de Aviacion S.A.B. de CV (a) 22,000 13,751 
Corporacion Inmobiliaria Vesta S.A.B. de CV 32,100 46,343 
Credito Real S.A.B. de CV 13,100 19,221 
El Puerto de Liverpool S.A.B. de CV Class C 5,300 35,362 
Embotelladoras Arca S.A.B. de CV 15,300 105,747 
Fibra Uno Administracion SA de CV 122,335 202,583 
Fomento Economico Mexicano S.A.B. de CV unit 77,491 749,053 
Genomma Lab Internacional SA de CV (a) 18,100 17,604 
Gruma S.A.B. de CV Series B 10,060 122,875 
Grupo Aeromexico S.A.B. de CV (a) 17,486 24,450 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 12,996 135,185 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 9,415 169,316 
Grupo Aeroportuario Norte S.A.B. de CV 15,800 83,672 
Grupo Bimbo S.A.B. de CV Series A 65,877 153,332 
Grupo Carso SA de CV Series A1 21,327 76,632 
Grupo Comercial Chedraui S.A.B. de CV 3,100 6,499 
Grupo Financiero Banorte S.A.B. de CV Series O 101,839 637,214 
Grupo Financiero Inbursa S.A.B. de CV Series O 100,000 166,613 
Grupo Financiero Interacciones SA de CV 6,100 29,994 
Grupo Herdez S.A.B. de CV 800 1,915 
Grupo Lala S.A.B. de CV 21,000 26,859 
Grupo Mexico SA de CV Series B 151,417 503,346 
Grupo Televisa SA de CV 106,370 381,753 
Hoteles City Express S.A.B. de CV (a) 1,700 2,403 
Industrias Bachoco SA de CV Series B 2,600 13,395 
Industrias CH SA de CV (a) 9,000 44,716 
Industrias Penoles SA de CV 6,145 128,978 
Infraestructura Energetica Nova S.A.B. de CV 28,933 127,369 
Kimberly-Clark de Mexico SA de CV Series A 72,867 132,237 
Macquarie Mexican (REIT) (c) 28,400 30,310 
Mexichem S.A.B. de CV 39,628 123,787 
Minera Frisco S.A.B. de CV (a) 4,100 2,208 
Prologis Property Mexico SA 22,300 41,423 
Promotora y Operadora de Infraestructura S.A.B. de CV 11,275 115,535 
Qualitas Controladora S.A.B. de CV 2,300 6,421 
Regional S.A.B. de CV 27,300 174,409 
Telesites S.A.B. de C.V. (a) 40,900 31,535 
Terrafina 48,800 77,811 
Unifin Financiera SAPI de CV 2,000 7,158 
Wal-Mart de Mexico SA de CV Series V 212,630 590,865 
TOTAL MEXICO  7,823,854 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 87,000 80,895 
HKT Trust/HKT Ltd. unit 189,000 248,665 
Langham Hospitality Investment unit 24,000 10,048 
TOTAL MULTI-NATIONAL  339,608 
Netherlands - 3.0%   
Aalberts Industries NV 5,133 253,151 
ABN AMRO Group NV GDR 17,416 541,142 
Accell Group NV 2,227 52,119 
Accell Group NV rights (a) 2,227 1,345 
AEGON NV 71,511 526,085 
AerCap Holdings NV (a) 5,982 311,842 
Airbus Group NV 24,256 2,847,246 
Akzo Nobel NV 10,462 946,280 
Akzo Nobel NV rights (a) 10,462 24,510 
Altice NV Class A (a) 22,957 220,064 
AMG Advanced Metallurgical Group NV 1,527 71,658 
Arcadis NV 4,056 80,034 
Arcadis NV rights (a) 4,056 2,302 
ASM International NV (Netherlands) 3,633 218,044 
ASML Holding NV (Netherlands) 16,093 3,060,840 
ASR Nederland NV 5,967 282,177 
Basic-Fit NV (a)(c) 1,253 37,752 
BE Semiconductor Industries NV 1,716 118,843 
BinckBank NV 316 1,843 
Brack Capital Properties NV (a) 281 31,231 
Brunel International NV 60 1,079 
CNH Industrial NV 41,299 510,696 
COSMO Pharmaceuticals NV 427 62,520 
CSM NV (exchangeable) 3,479 111,417 
Eurocommercial Properties NV (Certificaten Van Aandelen) unit 2,525 105,807 
Euronext NV (c) 2,394 171,725 
EXOR NV 4,304 319,855 
Ferrari NV 5,199 640,702 
Fiat Chrysler Automobiles NV 44,675 1,001,843 
Flow Traders BV (c) 1,007 39,011 
Fugro NV (Certificaten Van Aandelen) (a) 3,080 48,817 
Gemalto NV 3,203 192,933 
Heineken Holding NV 4,543 461,932 
Heineken NV (Bearer) 10,491 1,105,998 
IMCD Group BV 1,851 114,110 
ING Groep NV (Certificaten Van Aandelen) 160,306 2,701,240 
Intertrust NV (c) 2,942 58,621 
Interxion Holding N.V. (a) 2,888 187,778 
Kendrion NV 921 37,203 
Kendrion NV rights 5/13/18 (a) 921 968 
Koninklijke Ahold Delhaize NV 52,820 1,276,028 
Koninklijke BAM Groep NV 9,121 43,507 
Koninklijke BAM Groep NV rights (a) 9,121 1,101 
Koninklijke Boskalis Westminster NV 5,334 158,264 
Koninklijke DSM NV 7,360 762,763 
Koninklijke KPN NV 156,073 485,736 
Koninklijke Philips Electronics NV 39,013 1,651,273 
Koninklijke Volkerwessels NV 3,756 106,771 
Koninklijke Wessanen NV 7,673 155,204 
NN Group NV 12,545 601,277 
NSI NV 159 6,845 
NSI NV rights 5/9/18 (a) 159 215 
NXP Semiconductors NV (a) 13,937 1,461,991 
OCI NV (a) 3,488 83,021 
Philips Lighting NV (c) 4,672 142,402 
PostNL NV 26,741 104,014 
PostNL NV rights 5/13/18 (a) 26,741 5,490 
QIAGEN NV (Germany) (a) 8,696 286,580 
Randstad NV 4,859 313,219 
RELX NV 41,181 875,997 
RHI Magnesita NV 1,481 87,346 
SBM Offshore NV 9,799 164,837 
Steinhoff International Holdings NV (South Africa) 110,509 17,022 
STMicroelectronics NV (France) 25,541 557,695 
Takeaway.com Holding BV (a)(c) 929 54,074 
TKH Group NV (depositary receipt) 1,651 104,472 
TomTom Group BV (a) 7,482 73,963 
Unilever NV (Certificaten Van Aandelen) (Bearer) 67,992 3,897,885 
VastNed Retail NV 905 45,300 
Vopak NV 3,241 160,076 
Wereldhave NV 1,967 79,099 
Wolters Kluwer NV 12,510 677,250 
TOTAL NETHERLANDS  31,943,480 
New Zealand - 0.2%   
Air New Zealand Ltd. 19,153 44,067 
Argosy Property Ltd. 24,000 17,140 
Auckland International Airport Ltd. 47,043 211,175 
Chorus Ltd. 12,303 35,015 
Contact Energy Ltd. 25,876 97,950 
Fisher & Paykel Healthcare Corp. 22,309 200,132 
Fletcher Building Ltd. 36,219 160,802 
Freightways Ltd. 20,207 106,490 
Genesis Energy Ltd. 24,701 39,104 
Goodman Property Trust 98,744 94,835 
Infratil Ltd. 17,752 39,907 
Kiwi Property Group Ltd. 31,962 30,809 
Mercury Nz Ltd. 30,569 68,612 
Meridian Energy Ltd. 47,067 97,362 
Metlifecare Ltd. 10,948 44,523 
New Zealand Refining Co. Ltd. 2,258 3,734 
Precinct Properties New Zealand Ltd. 32,328 29,115 
Ryman Healthcare Group Ltd. 17,447 130,123 
Sky Network Television Ltd. 8,011 12,851 
SKYCITY Entertainment Group Ltd. 24,272 69,165 
Spark New Zealand Ltd. 77,377 188,371 
Summerset Group Holdings Ltd. 6,250 30,343 
The a2 Milk Co. Ltd. (a) 27,561 235,612 
Trade Maine Group Ltd. 13,543 44,309 
Z Energy Ltd. 21,573 110,046 
TOTAL NEW ZEALAND  2,141,592 
Norway - 0.5%   
Akastor ASA (a) 1,713 3,399 
Aker ASA (A Shares) 736 46,239 
Aker Bp ASA 4,508 148,463 
Aker Solutions ASA (a) 14,785 100,517 
Austevoll Seafood ASA 2,606 31,445 
B2Holding ASA 10,356 26,012 
Borregaard ASA 6,927 73,654 
Det Norske Oljeselskap ASA (DNO) (A Shares) (a) 19,161 35,731 
DNB ASA 40,203 751,850 
Entra ASA (c) 5,779 79,529 
Europris ASA (c) 6,082 21,228 
Gjensidige Forsikring ASA 7,547 119,664 
IDEX ASA (a) 15,306 7,727 
Kongsberg Automotive ASA (a) 6,068 7,110 
Leroy Seafood Group ASA 19,203 141,181 
Marine Harvest ASA 18,070 393,394 
Merkantildata ASA 5,873 87,411 
Nordic Nanovector ASA (a) 1,041 6,441 
Nordic VLSI ASA (a) 8,476 53,567 
Norsk Hydro ASA 52,622 328,675 
Norway Royal Salmon ASA 135 3,201 
Norwegian Air Shuttle A/S (a) 1,512 57,108 
Norwegian Finans Holding ASA (a) 3,567 43,485 
Ocean Yield ASA 229 1,975 
Orkla ASA 35,642 330,283 
Otello Corp. ASA (a) 778 1,993 
Petroleum Geo-Services ASA (a) 14,562 62,914 
Protector Forsikring ASA 1,752 16,358 
Renewable Energy Corp. ASA (a) 21,761 3,714 
Salmar ASA 2,612 122,097 
Schibsted ASA (B Shares) 3,640 98,007 
Skandiabanken ASA (c) 1,730 15,635 
Sparebanken Midt-Norge 4,616 46,377 
Sparebanken Nord-Norge 2,669 19,729 
Statoil ASA 45,534 1,164,428 
Storebrand ASA (A Shares) 23,114 197,940 
Telenor ASA 30,700 679,511 
TGS Nopec Geophysical Co. ASA 3,733 118,286 
Wallenius Wilhelmsen Logistics (a) 3,283 22,713 
XXL ASA (c) 8,237 71,668 
Yara International ASA 7,150 302,139 
TOTAL NORWAY  5,842,798 
Pakistan - 0.0%   
Engro Corp. Ltd. 18,100 48,942 
Fauji Fertilizer Co. Ltd. 31,000 26,759 
Habib Bank Ltd. 43,900 73,958 
Hub Power Co. Ltd. 17,200 15,338 
Lucky Cement Ltd. 7,200 41,193 
MCB Bank Ltd. 28,400 51,322 
National Bank of Pakistan 15,500 6,801 
Oil & Gas Development Co. Ltd. 34,300 49,484 
Pakistan State Oil Co. Ltd. 8,330 24,459 
United Bank Ltd. 39,600 68,907 
TOTAL PAKISTAN  407,163 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 52,712 310,108 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 9,088 144,954 
Grana y Montero SAA sponsored ADR (a)(b) 2,645 8,808 
TOTAL PERU  153,762 
Philippines - 0.2%   
Aboitiz Equity Ventures, Inc. 59,760 80,414 
Aboitiz Power Corp. 140,300 102,995 
Alliance Global Group, Inc. (a) 125,700 31,709 
Ayala Corp. 10,995 204,831 
Ayala Land, Inc. 284,300 223,742 
Bank of the Philippine Islands (BPI) 49,604 100,554 
BDO Unibank, Inc. 73,283 186,162 
Benpres Holdings Corp. 43,900 3,660 
Bloomberry Resorts Corp. 131,300 31,150 
Cebu Air, Inc. 5,790 9,857 
CEMEX Holdings Philippines, Inc. (a) 12,400 859 
Cosco Capital, Inc. 9,000 1,165 
D&L Industries, Inc. 313,200 65,649 
DMCI Holdings, Inc. 89,300 19,011 
DoubleDragon Properties Corp. 7,760 4,682 
Filinvest Land, Inc. 24,000 766 
First Gen Corp. 9,200 2,771 
First Phillipines Holdings Corp. 6,460 8,072 
Globe Telecom, Inc. 2,120 63,214 
GT Capital Holdings, Inc. 3,995 81,094 
International Container Terminal Services, Inc. 11,690 19,096 
JG Summit Holdings, Inc. 102,570 126,544 
Jollibee Food Corp. 19,010 104,631 
Manila Electric Co. 9,210 57,262 
Manila Water Co., Inc. 38,600 20,643 
Megaworld Corp. 325,000 28,245 
Metro Pacific Investments Corp. 571,600 56,304 
Metropolitan Bank & Trust Co. 34,341 56,332 
Philippine Long Distance Telephone Co. 4,880 136,782 
Robinsons Land Corp. 137,056 47,340 
Security Bank Corp. 13,030 52,550 
SM Investments Corp. 11,170 202,296 
SM Prime Holdings, Inc. 323,500 213,515 
Universal Robina Corp. 36,170 98,313 
Vista Land & Lifescapes, Inc. 61,300 7,698 
TOTAL PHILIPPINES  2,449,908 
Poland - 0.3%   
Alior Bank SA (a) 4,920 99,596 
Asseco Poland SA 2,194 27,504 
Bank Handlowy w Warszawie SA 3,034 71,747 
Bank Millennium SA (a) 36,074 87,876 
Bank Polska Kasa Opieki SA 6,696 223,019 
Bank Zachodni WBK SA 1,354 143,276 
BRE Bank SA 902 110,352 
Budimex SA 198 10,594 
CD Projekt RED SA 2,757 98,031 
Ciech SA 399 6,468 
Cyfrowy Polsat SA 9,329 68,203 
Dino Polska SA (a)(c) 2,916 78,926 
ENEA SA 5,656 16,808 
Energa SA 3,153 9,262 
Eurocash SA 2,146 14,986 
Globe Trade Centre SA 954 2,514 
Grupa Lotos SA 4,667 73,558 
Jastrzebska Spolka Weglowa SA (a) 2,542 59,982 
KGHM Polska Miedz SA (Bearer) 5,347 142,654 
Kruk SA 919 60,222 
LPP SA 48 125,407 
Netia Holdings SA 7,446 10,989 
NG2 SA 1,220 90,027 
PKP Cargo SA (a) 727 8,513 
Polish Oil & Gas Co. SA 65,424 115,196 
Polska Grupa Energetyczna SA (a) 36,500 108,881 
Polski Koncern Naftowy Orlen SA 12,577 321,426 
Powszechna Kasa Oszczednosci Bank SA (a) 38,187 455,217 
Powszechny Zaklad Ubezpieczen SA 24,165 295,500 
Tauron Polska Energia SA (a) 27,541 18,440 
Telekomunikacja Polska SA (a) 39,036 58,612 
Warsaw Stock Exchange 1,335 15,005 
Zaklady Azotowe w Tarnowie-Moscicach SA 855 13,033 
TOTAL POLAND  3,041,824 
Portugal - 0.1%   
Banco Comercial Portugues SA (Reg.) (a) 454,177 152,528 
CTT Correios de Portugal SA 8,784 32,438 
Energias de Portugal SA 96,996 360,299 
Galp Energia SGPS SA Class B 20,705 397,928 
Jeronimo Martins SGPS SA 11,220 197,006 
NOS SGPS SA 7,541 44,859 
Portucel Industrial Empresa Produtora de Celulosa SA 20,223 118,199 
REN - Redes Energeticas Nacionais SGPS SA 21,868 68,977 
Sonae SGPS SA 33,655 45,844 
TOTAL PORTUGAL  1,418,078 
Qatar - 0.1%   
Barwa Real Estate Co. 3,257 31,622 
Doha Bank 7,237 53,845 
Ezdan Holding Group (a) 29,195 89,886 
Gulf International Services QSC 100 513 
Gulf Warehousing Co. (a) 1,657 19,460 
Industries Qatar QSC (a) 7,318 225,107 
Masraf al Rayan 19,803 193,516 
Medicare Group 250 4,569 
Qatar Electricity & Water Co. 1,723 93,698 
Qatar First Bank (a) 1,004 1,641 
Qatar Gas Transport Co. Ltd. (Nakilat) 8,384 33,826 
Qatar Insurance Co. SAQ 6,460 64,724 
Qatar Islamic Bank 1,600 47,024 
Qatar National Bank SAQ 9,199 381,502 
Qatar National Cement Co. QSC 53 802 
Qatar Telecom (Qtel) Q.S.C. (a) 3,140 68,302 
The Commercial Bank of Qatar 14,858 147,519 
United Development Co. 3,348 13,425 
Vodafone Qatar QSC (a) 8,279 21,374 
TOTAL QATAR  1,492,355 
Russia - 0.7%   
Aeroflot - Russian Airlines 25,479 58,263 
Alrosa Co. Ltd. 99,293 141,294 
DIXY Group OJSC (a) 6,420 32,828 
Gazprom OAO 442,571 1,025,597 
Inter Rao Ues JSC 1,220,773 77,543 
LSR Group OJSC GDR (Reg. S) 12,843 34,227 
Lukoil PJSC 17,585 1,161,710 
Magnit OJSC GDR (Reg. S) 14,236 270,342 
Magnitogorsk Iron & Steel Works PJSC 109,800 84,879 
Mechel Steel Group OAO sponsored ADR (a) 320 1,174 
MMC Norilsk Nickel PJSC 2,641 451,112 
Mobile TeleSystems OJSC sponsored ADR 22,785 239,243 
Moscow Exchange MICEX-RTS OAO 67,894 130,187 
Mosenergo PJSC 337,078 13,775 
NOVATEK OAO GDR (Reg. S) 3,664 465,328 
Novolipetsk Steel OJSC 54,431 139,300 
PhosAgro OJSC GDR (Reg. S) 5,232 75,445 
Polyus PJSC 1,172 74,352 
Rosneft Oil Co. OJSC 47,416 288,385 
RusHydro PJSC 6,371,585 75,379 
Sberbank of Russia 454,523 1,620,145 
Severstal PAO 7,803 125,386 
Sistema JSFC sponsored GDR 4,633 16,846 
Surgutneftegas OJSC 280,486 131,129 
Tatneft PAO 63,617 677,918 
TMK OAO GDR (Reg. S) 2,884 14,449 
VTB Bank OJSC (a) 240,647,980 206,245 
TOTAL RUSSIA  7,632,481 
Singapore - 1.0%   
Accordia Golf Trust 13,000 6,023 
Ascendas Hospitality Trust unit 11,400 6,987 
Ascendas Real Estate Investment Trust 105,400 211,442 
Ascott Residence Trust 83,171 71,436 
Asian Pay Television Trust 50,400 18,600 
Cache Logistics Trust 48,292 30,385 
CapitaCommercial Trust (REIT) 127,089 173,629 
CapitaLand Ltd. 93,300 263,092 
CapitaMall Trust 142,900 225,663 
CapitaRetail China Trust 58,301 68,860 
CDL Hospitality Trusts unit 39,800 53,253 
City Developments Ltd. 16,500 156,798 
ComfortDelgro Corp. Ltd. 94,700 159,834 
DBS Group Holdings Ltd. 73,966 1,706,550 
ESR (REIT) 19,526 7,783 
Ezion Holdings Ltd. (a) 51,300 4,598 
Ezion Holdings Ltd. warrants 4/17/23 (a) 30,780 
Far East Hospitality Trust unit 12,777 6,488 
First (REIT) 8,466 8,737 
First Resources Ltd. 20,200 25,686 
Frasers Centrepoint Trust 9,100 15,344 
Frasers Commercial Trust 3,257 3,431 
Frasers Logistics & Industrial Trust 126,200 99,667 
Hutchison Port Holdings Trust 228,600 76,216 
Jardine Cycle & Carriage Ltd. 5,500 141,509 
K-REIT Asia 117,988 110,151 
Keppel Corp. Ltd. 59,100 362,470 
Keppel DC (REIT) 6,900 7,412 
Keppel Infrastructure Trust 222,400 90,340 
Lippo Malls Indonesia Retail Trust 147,100 36,000 
Macquarie MEAG Prime (REIT) 8,200 4,446 
Manulife U.S. REIT 60,100 57,078 
Mapletree Commercial Trust 93,023 113,390 
Mapletree Greater China Commercial Trust 110,900 99,213 
Mapletree Industrial (REIT) 77,300 117,979 
Mapletree Logistics Trust (REIT) 69,454 66,351 
MobileOne Ltd. 2,400 3,269 
NetLink NBN Trust (a) 175,969 107,385 
OUE Hospitality Trust 14,400 9,104 
Oue Ltd. 6,100 8,300 
Oversea-Chinese Banking Corp. Ltd. 131,200 1,355,111 
Parkway Life REIT 1,400 2,939 
Raffles Medical Group Ltd. 65,178 56,345 
Rht Health Trust 35,300 21,169 
Sembcorp Industries Ltd. 47,900 110,334 
Sembcorp Marine Ltd. 26,000 41,570 
Sheng Siong Group Ltd. 9,400 7,217 
SIIC Environment Holdings Ltd. 4,900 1,605 
Singapore Airlines Ltd. 23,800 194,193 
Singapore Airport Terminal Service Ltd. 27,800 115,520 
Singapore Exchange Ltd. 38,100 220,943 
Singapore Post Ltd. 76,300 76,828 
Singapore Press Holdings Ltd. 72,600 148,353 
Singapore Technologies Engineering Ltd. 53,500 140,001 
Singapore Telecommunications Ltd. 322,700 853,572 
SPH REIT 3,000 2,239 
StarHub Ltd. 59,300 101,161 
Suntec (REIT) 118,400 174,037 
United Engineers Ltd. 15,800 32,392 
United Overseas Bank Ltd. 56,514 1,279,716 
UOL Group Ltd. 23,531 155,413 
Venture Corp. Ltd. 11,600 181,436 
Wilmar International Ltd. 73,500 179,812 
Wing Tai Holdings Ltd. 6,800 10,419 
Yangzijiang Shipbuilding Holdings Ltd. 108,000 94,310 
Yanlord Land Group Ltd. 17,000 21,678 
Yoma Strategic Holdings Ltd. 99,600 32,085 
TOTAL SINGAPORE  10,345,297 
South Africa - 1.6%   
Advtech Ltd. 4,172 5,458 
Aeci Ltd. 3,629 33,996 
African Rainbow Minerals Ltd. 3,001 24,535 
Alexander Forbes Group Holdings Ltd. 5,905 3,028 
Anglo American Platinum Ltd. 2,406 64,565 
AngloGold Ashanti Ltd. 17,610 157,410 
Arrowhead Properties Ltd. A linked 62,596 35,062 
Ascendis Health Ltd. 1,377 1,076 
Aspen Pharmacare Holdings Ltd. 16,023 345,483 
Assore Ltd. 1,824 45,027 
Astral Foods Ltd. 2,806 68,556 
Attacq Ltd. (a) 33,527 51,709 
AVI Ltd. 12,579 115,058 
Barclays Africa Group Ltd. 28,937 423,848 
Barloworld Ltd. 8,163 110,248 
Bidcorp Ltd. 13,630 313,330 
Bidvest Group Ltd. 13,170 257,989 
Blue Label Telecoms Ltd. 2,242 2,225 
Capitec Bank Holdings Ltd. 1,665 118,538 
Cashbuild Ltd. 1,224 42,571 
City Lodge Hotels Ltd. 140 1,831 
Clicks Group Ltd. 10,800 184,647 
Coronation Fund Managers Ltd. 6,216 36,913 
Curro Holdings Ltd. (a) 7,456 20,063 
DataTec Ltd. 7,047 11,992 
Delta Property Fund Ltd. 4,207 2,206 
Dis-Chem Pharmacies Pty Ltd. (c) 10,513 31,393 
Discovery Ltd. 17,282 239,958 
Emira Property Fund Ltd. 40,873 52,809 
EOH Holdings Ltd. 4,397 13,365 
Exxaro Resources Ltd. 10,347 91,778 
Famous Brands Ltd. (a) 6,133 54,583 
FirstRand Ltd. 140,669 753,357 
Fortress (REIT) Ltd.:   
Class A 46,682 64,245 
Class B 28,294 39,431 
Foschini Ltd. 8,983 154,557 
Gold Fields Ltd. 34,811 132,162 
Grindrod Ltd. (a) 13,572 15,516 
Growthpoint Properties Ltd. 114,102 263,978 
Harmony Gold Mining Co. Ltd. 22,436 45,781 
Hosken Consolidated Investment Ltd. 537 6,272 
Hyprop Investments Ltd. 12,075 110,240 
Impala Platinum Holdings Ltd. (a) 28,822 51,335 
Imperial Holdings Ltd. 5,345 102,817 
Investec Ltd. 12,903 101,783 
Invicta Holdings Ltd. 553 1,967 
JSE Ltd. 2,784 43,275 
KAP Industrial Holdings Ltd. 58,972 41,687 
Kumba Iron Ore Ltd. 2,369 50,608 
Liberty Holdings Ltd. 7,641 80,509 
Life Healthcare Group Holdings Ltd. 52,863 124,613 
Massmart Holdings Ltd. 5,344 71,363 
MMI Holdings Ltd. 31,057 55,287 
Mondi Ltd. 4,488 130,937 
Mpact Ltd. 4,274 9,782 
Mr Price Group Ltd. 10,394 228,084 
MTN Group Ltd. 72,552 728,183 
Murray & Roberts Holdings Ltd. 6,685 8,275 
Nampak Ltd. (a) 20,838 23,187 
Naspers Ltd. Class N 18,405 4,483,818 
Nedbank Group Ltd. 8,297 197,867 
Netcare Ltd. 48,796 121,506 
Northam Platinum Ltd. (a) 19,456 59,722 
Oceana Group Ltd. 307 2,014 
Omnia Holdings Ltd. 834 9,593 
Peregrine Holdings Ltd. 1,032 1,768 
Pick 'n Pay Stores Ltd. 27,812 180,047 
Pioneer Foods Ltd. 4,559 44,338 
Pretoria Portland Cement Co. Ltd. (a) 41,790 29,199 
PSG Group Ltd. 5,285 95,090 
Rand Merchant Insurance Holdings Ltd. 25,434 84,231 
Rebosis Property Fund Ltd. 1,887 1,226 
Redefine Properties Ltd. 178,029 171,088 
Remgro Ltd. 21,738 391,363 
Resilient Property Income Fund Ltd. 13,266 72,181 
Reunert Ltd. 18,692 116,451 
RMB Holdings Ltd. 40,763 255,677 
SA Corporate Real Estate Fund 131,416 50,317 
Sanlam Ltd. 60,493 382,135 
Sappi Ltd. 22,506 143,626 
Sasol Ltd. 23,272 831,913 
Shoprite Holdings Ltd. 17,784 353,827 
Sibanye-Stillwater 77,195 67,666 
Spar Group Ltd. 9,108 153,113 
Stadio Holdings Ltd. (a) 11,721 4,477 
Standard Bank Group Ltd. 54,508 934,845 
Sun International Ltd. (a) 949 4,271 
Super Group Ltd. (a) 9,267 27,625 
Telkom SA Ltd. 7,350 33,566 
Tiger Brands Ltd. 7,014 219,211 
Tongaat Hulett Ltd. 14,194 102,892 
Trencor Ltd. 11,924 32,829 
Truworths International Ltd. 18,379 150,259 
Tsogo Sun Holdings Ltd. 16,839 30,781 
Vodacom Group Ltd. 24,328 304,146 
Vukile Property Fund Ltd. 7,975 14,350 
Wilson Bayly Holmes-Ovcon Ltd. 1,650 20,975 
Woolworths Holdings Ltd. 44,529 228,841 
Zeder Investments Ltd. 90,708 44,711 
TOTAL SOUTH AFRICA  16,854,036 
Spain - 2.2%   
Abertis Infraestructuras SA 27,597 608,535 
Acerinox SA 7,510 105,609 
ACS Actividades de Construccion y Servicios SA 10,331 435,398 
Aena Sme SA (c) 2,627 542,792 
Almirall SA 4,435 55,324 
Amadeus IT Holding SA Class A 17,932 1,314,439 
Applus Services SA 7,934 107,404 
Atresmedia Corporacion de Medios de Comunicacion SA 11,381 106,926 
Azucarera Ebro Agricolas SA 2,057 49,681 
Banco Bilbao Vizcaya Argentaria SA 274,426 2,220,671 
Banco de Sabadell SA 222,010 436,063 
Banco Santander SA (Spain) 670,762 4,352,196 
Bankia SA 54,157 238,514 
Bankinter SA 27,479 288,034 
Bolsas Y Mercados Espanoles 3,583 125,824 
CaixaBank SA 149,121 725,157 
Catalana Occidente SA 2,492 109,991 
Cellnex Telecom Sau (c) 7,318 196,540 
Cemex Latam Holdings SA (a) 1,110 3,422 
Cie Automotive SA 1,466 54,951 
Codere SA (a) 1,150 13,887 
Compania de Distribucion Integral Logista Holdings SA 4,137 93,372 
Construcciones y Auxiliar de Ferrocarriles 610 29,318 
Corporacion Financiera Alba SA 282 17,572 
Distribuidora Internacional de Alimentacion SA 26,787 124,540 
Enagas SA 10,080 293,847 
Ence Energia y Celulosa SA 6,455 50,044 
Endesa SA 11,687 273,373 
Euskaltel, S.A. (c) 1,664 15,473 
Faes Farma SA 21,179 86,190 
Ferrovial SA 19,983 427,972 
Fomento Construcciones y Contratas SA (FOCSA) (a) 2,569 33,195 
Gamesa Corporacion Tecnologica SA 10,192 175,572 
Gas Natural SDG SA 14,297 361,012 
Gestamp Automocion SA (c) 10,749 87,618 
Grifols SA 14,227 401,165 
Grupo Acciona SA 1,825 152,993 
Hispania Activos Inmobiliarios SA 7,346 156,130 
Iberdrola SA 237,899 1,843,232 
Inditex SA 45,513 1,416,907 
Indra Sistemas SA (a) 6,580 91,220 
Inmobiliaria Colonial SA 14,600 169,962 
International Consolidated Airlines Group SA 26,182 226,760 
Lar Espana Real Estate Socimi SA 1,518 17,231 
Liberbank SA (a) 155,645 89,317 
MAPFRE SA (Reg.) 53,061 184,797 
Mediaset Espana Comunicacion SA 7,346 70,560 
Melia Hotels International SA 4,299 64,063 
Merlin Properties Socimi SA 15,848 244,967 
Miquel y Costas & Miquel SA 527 21,320 
Neinor Homes SLU (a)(c) 7,345 142,449 
New Hampshire Hotel Group S.A 7,087 54,773 
Obrascon Huarte Lain SA (a) 1,909 8,961 
Pharma Mar SA (a) 6,023 11,797 
Prosegur Compania de Seguridad SA (Reg.) 9,371 71,067 
Red Electrica Corporacion SA 17,945 373,802 
Repsol SA 50,052 958,018 
Sacyr SA 14,999 43,217 
Saeta Yield SA 797 11,857 
Talgo SA 5,549 34,041 
Tecnicas Reunidas SA 1,293 41,768 
Telefonica SA 193,969 1,976,639 
Telepizza Group SAU (a)(c) 3,895 26,105 
Tubacex SA (a) 2,062 8,802 
Unicaja Banco SA 80,271 145,500 
Viscofan Envolturas Celulosicas SA 1,627 108,062 
Zardoya Otis SA 7,226 73,910 
TOTAL SPAIN  23,401,848 
Sweden - 2.0%   
AarhusKarlshamn AB 1,311 116,029 
AF AB (B Shares) 1,812 37,806 
Ahlsell AB 19,741 118,131 
Alfa Laval AB 13,812 343,382 
Alimak Group AB (c) 1,237 18,336 
Arjo AB 13,218 39,020 
ASSA ABLOY AB (B Shares) 40,277 847,244 
Atlas Copco AB:   
(A Shares) 19,574 769,177 
(B Shares) 23,572 840,679 
Attendo AB (c) 7,307 74,308 
Avanza Bank Holding AB 1,142 53,835 
Axfood AB 4,976 92,597 
Bergman & Beving AB (B Shares) 315 3,281 
Betsson AB (B Shares) 5,780 41,241 
Bilia AB (A Shares) 6,304 52,157 
Billerud AB 8,713 128,456 
BioGaia AB 893 42,933 
Boliden AB 10,822 376,690 
Bonava AB 8,886 108,073 
Bravida AB (c) 13,091 93,885 
Bure Equity AB 2,033 21,893 
BYGGmax Group AB 2,346 12,471 
Capio AB (c) 4,409 19,939 
Castellum AB 8,412 136,411 
Cherry AB (a) 2,000 16,262 
Clas Ohlson AB (B Shares) 2,193 24,042 
Cloetta AB 13,927 49,972 
Com Hem Holding AB 9,233 160,479 
D. Carnegie & Co. AB (a) 1,489 23,194 
Dios Fastigheter AB 5,457 34,711 
Dometic Group AB (c) 12,017 115,481 
Dustin Group AB (c) 1,681 14,110 
Electrolux AB (B Shares) 10,080 266,255 
Elekta AB (B Shares) 15,304 173,826 
Eltel AB (a)(c) 3,974 11,491 
Essity AB Class B 24,771 630,827 
Evolution Gaming Group AB 879 55,410 
Fabege AB 13,228 153,026 
Fastighets AB Balder (a) 2,939 75,987 
Fingerprint Cards AB 6,155 5,331 
Getinge AB (B Shares) 10,057 93,786 
Granges AB 3,812 53,545 
H&M Hennes & Mauritz AB (B Shares) (b) 39,813 684,162 
Haldex AB 927 9,962 
Hansa Medical AB (a) 1,570 47,046 
Hemfosa Fastigheter AB 4,338 53,899 
Hexagon AB (B Shares) 10,600 614,938 
HEXPOL AB (B Shares) 14,880 154,634 
Hoist Finance AB (c) 6,041 53,603 
Holmen AB (B Shares) 4,648 114,971 
Hufvudstaden AB Series A 5,839 86,018 
Husqvarna AB (B Shares) 18,366 177,103 
ICA Gruppen AB 2,544 79,167 
Industrivarden AB (C Shares) 4,359 92,166 
Indutrade AB 4,016 95,118 
Intrum Justitia AB (b) 3,276 87,244 
Investment AB Oresund 100 1,496 
Investor AB (B Shares) 17,275 755,774 
Inwido AB 1,240 10,819 
ITAB Shop Concept AB 678 3,058 
JM AB (B Shares) 2,643 52,488 
Kinnevik AB (B Shares) 9,187 332,684 
Klovern AB (B Shares) 27,231 34,114 
Kungsleden AB 13,492 95,990 
LeoVegas AB (c) 1,894 18,558 
Lindab International AB 3,236 25,018 
Loomis AB (B Shares) 3,056 111,747 
Lundbergfoeretagen AB 2,827 192,090 
Lundin Petroleum AB 8,890 245,888 
Mekonomen AB 2,083 31,923 
Modern Times Group MTG AB (B Shares) 1,979 78,015 
MQ Holding AB 10 17 
Mycronic AB 3,498 40,346 
NCC AB Series B 2,472 45,634 
Net Entertainment NE AB 4,722 27,124 
New Wave Group AB (B Shares) 582 3,463 
Nibe Industrier AB (B Shares) 11,210 114,703 
Nobia AB 5,154 40,671 
Nobina AB (c) 3,257 21,461 
Nolato AB Series B 1,115 84,039 
Nordea Bank AB 125,990 1,285,993 
Nordnet AB Class B (d) 492 
Pandox AB 3,228 54,558 
Peab AB 11,839 105,321 
Probi AB 251 14,017 
Ratos AB (B Shares) 20,802 82,622 
RaySearch Laboratories AB (a) 398 5,950 
Recipharm AB 2,999 40,824 
Resurs Holding AB 3,822 24,682 
Rezidor Hotel Group AB 372 1,071 
Saab AB (B Shares) 2,679 109,985 
Sandvik AB 45,034 771,425 
Scandic Hotels Group AB 5,491 54,116 
Securitas AB (B Shares) 11,366 184,314 
Skandinaviska Enskilda Banken AB (A Shares) 62,988 593,436 
Skanska AB (B Shares) 13,776 269,490 
SKF AB (B Shares) 16,940 344,443 
SkiStar AB 779 16,102 
SSAB Svenskt Stal AB:   
(A Shares) 14,179 80,557 
(B Shares) 17,052 77,562 
Starbreeze AB (a) 12,908 16,215 
Svenska Cellulosa AB (SCA) (B Shares) 23,623 262,542 
Svenska Handelsbanken AB (A Shares) 62,820 700,585 
Sweco AB (B Shares) 4,709 96,152 
Swedbank AB (A Shares) 36,907 804,805 
Swedish Match Co. AB 8,089 363,960 
Swedish Orphan Biovitrum AB (a) 10,071 217,196 
Tele2 AB (B Shares) 17,743 230,990 
Telefonaktiebolaget LM Ericsson (B Shares) 131,135 999,704 
TeliaSonera AB 115,332 568,715 
Thule Group AB (c) 3,231 74,976 
Tobii AB (a) 2,177 9,025 
Trelleborg AB (B Shares) 10,627 249,150 
Vitrolife AB 402 29,519 
Volvo AB (B Shares) 62,684 1,068,040 
Wallenstam AB (B Shares) 14,857 133,442 
Wihlborgs Fastigheter AB 3,588 83,424 
TOTAL SWEDEN  21,087,768 
Switzerland - 4.9%   
ABB Ltd. (Reg.) 75,876 1,769,093 
Adecco SA (Reg.) 6,816 453,529 
AFG Arbonia-Forster-Holding AG (a) 6,300 112,523 
Allreal Holding AG 370 60,895 
ALSO Holding AG 335 41,512 
APG SGA SA 197 81,106 
Aryzta AG 4,359 92,458 
Ascom Holding AG (Reg.) 772 15,533 
Autoneum Holding AG 113 29,715 
Bachem Holding AG (B Shares) 167 21,469 
Baloise Holdings AG 2,357 375,075 
Banque Cantonale Vaudoise 278 222,176 
Barry Callebaut AG 94 169,504 
Basilea Pharmaceutica AG (a) 172 12,045 
Bell AG 3,148 
BKW AG 722 47,138 
Bobst Group SA 285 30,571 
Bossard Holding AG 720 148,069 
Bucher Industries AG 400 147,649 
Burckhardt Compression Holding AG 84 27,378 
Burkhalter Holding AG 381 35,909 
Cembra Money Bank AG 741 63,071 
Clariant AG (Reg.) 10,772 250,115 
Coca-Cola HBC AG 7,383 248,412 
Comet Holding AG 480 63,160 
Compagnie Financiere Richemont SA Series A 21,440 2,038,059 
Credit Suisse Group AG 99,545 1,678,950 
Daetwyler Holdings AG 208 39,879 
Dufry AG 1,309 186,047 
EFG International 3,288 26,875 
Emmi AG 107 86,701 
Ems-Chemie Holding AG 345 214,102 
Flughafen Zuerich AG 1,126 236,335 
Forbo Holding AG (Reg.) 47 66,018 
Galenica AG 2,205 349,885 
Galenica Sante Ltd. (c) 6,291 339,625 
GAM Holding Ltd. 10,183 163,586 
Geberit AG (Reg.) 1,601 685,958 
Georg Fischer AG (Reg.) 228 284,827 
Givaudan SA 392 877,748 
Helvetia Holding AG (Reg.) 364 216,894 
Huber+Suhner AG 427 24,517 
Idorsia Ltd. 5,009 116,152 
Implenia AG 604 46,351 
INFICON Holding AG 64 38,490 
Intershop Holding AG 12 5,994 
Julius Baer Group Ltd. 9,064 537,934 
Kaba Holding AG (B Shares) (Reg.) 130 101,009 
Kardex AG 92 12,978 
Komax Holding AG (Reg.) 49 13,528 
Kudelski SA (Bearer) 453 4,192 
Kuehne & Nagel International AG 1,980 309,687 
Lafargeholcim Ltd. (Reg.) 18,288 1,021,618 
Landis+Gyr Group AG 1,176 88,882 
Leonteq AG (a) 538 30,022 
Lindt & Spruengli AG 304,339 
Lindt & Spruengli AG (participation certificate) 46 296,145 
Logitech International SA (Reg.) 6,493 241,637 
Lonza Group AG 3,020 744,182 
Meyer Burger Technology AG (a) 17,793 22,371 
Mobimo Holding AG 826 213,793 
Nestle SA (Reg. S) 129,381 10,023,158 
Novartis AG 92,893 7,150,375 
OC Oerlikon Corp. AG (Reg.) 9,327 151,811 
Oriflame Holding AG 1,730 82,345 
Orior AG 98 8,109 
Panalpina Welttransport Holding AG 780 99,015 
Pargesa Holding SA 2,018 189,684 
Partners Group Holding AG 656 480,912 
PSP Swiss Property AG 1,895 177,549 
Rieter Holding AG (Reg.) 147 28,569 
Roche Holding AG (participation certificate) 29,355 6,522,313 
Schindler Holding AG:   
(participation certificate) 992 205,807 
(Reg.) 1,387 278,660 
Schmolz & Bickenbach AG (a) 6,294 5,081 
Schweiter Technologies AG 16 18,276 
SFS Group AG 793 89,543 
SGS SA (Reg.) 222 541,447 
Siegfried Holding AG 168 58,571 
Sika AG 87 634,723 
Sonova Holding AG Class B 2,107 349,111 
St.Galler Kantonalbank AG 93 49,925 
Straumann Holding AG 384 262,523 
Sulzer AG (Reg.) 1,185 137,393 
Sunrise Communications Group AG (c) 2,050 161,559 
Swatch Group AG (Bearer) 1,205 581,829 
Swatch Group AG (Bearer) (Reg.) 2,565 229,452 
Swiss Life Holding AG 1,329 467,363 
Swiss Prime Site AG 3,086 289,760 
Swiss Re Ltd. 12,921 1,234,210 
Swisscom AG 1,004 483,257 
Tecan Group AG 429 94,804 
Temenos Group AG 2,546 321,911 
u-blox Holding AG 486 89,059 
UBS Group AG 151,048 2,556,080 
Valiant Holding AG 432 51,962 
Valora Holding AG 87 29,146 
VAT Group AG (c) 1,302 193,658 
Vontobel Holdings AG 523 34,620 
VZ Holding AG 73 20,589 
Ypsomed Holding AG 367 55,957 
Zehnder Group AG 53 2,233 
Zurich Insurance Group AG 6,194 1,978,584 
ZZ Holding AG 40 51,100 
TOTAL SWITZERLAND  52,658,596 
Taiwan - 2.8%   
A-DATA Technology Co. Ltd. 1,000 2,409 
Accton Technology Corp. 30,000 68,444 
Acer, Inc. 121,000 92,116 
Advanced Ceramic X Corp. 1,000 8,466 
Advantech Co. Ltd. 17,499 119,918 
AmTRAN Technology Co. Ltd. 4,000 1,714 
ASE Industrial Holding Co. Ltd. 144,718 389,727 
Asia Cement Corp. 136,000 144,879 
Asia Optical Co., Inc. 6,000 18,433 
Asia Pacific Telecom Co. Ltd. (a) 33,000 9,768 
ASPEED Tech, Inc. 1,000 28,504 
ASUSTeK Computer, Inc. 36,000 335,847 
AU Optronics Corp. 516,000 212,399 
Bank of Kaohsiung Co. Ltd. 14,728 4,642 
Capital Securities Corp. 7,000 2,642 
Catcher Technology Co. Ltd. 31,000 343,187 
Cathay Financial Holding Co. Ltd. 331,000 592,682 
Chang Hwa Commercial Bank 113,652 65,307 
Cheng Loong Corp. 28,000 15,859 
Cheng Shin Rubber Industry Co. Ltd. 133,000 214,079 
Cheng Uei Precision Industries Co. Ltd. 3,000 3,887 
Chicony Electronics Co. Ltd. 12,065 29,672 
Chin-Poon Industrial Co. Ltd. 6,000 7,885 
China Airlines Ltd. (a) 177,000 64,451 
China Bills Finance Corp. 4,000 1,948 
China Development Finance Holding Corp. 1,080,000 407,623 
China Life Insurance Co. Ltd. 87,330 94,450 
China Motor Co. Ltd. 3,000 2,817 
China Petrochemical Development Corp. (a) 207,000 90,491 
China Steel Chemical Corp. 1,000 5,263 
China Steel Corp. 509,000 402,062 
China Synthetic Rubber Corp. 16,100 22,952 
Chinatrust Financial Holding Co. Ltd. 706,960 503,285 
Chipbond Technology Corp. 38,000 75,167 
Chroma ATE, Inc. 17,000 85,329 
Chunghwa Telecom Co. Ltd. 158,000 600,136 
Clevo Co. Ltd. 2,000 1,970 
Compal Electronics, Inc. 188,000 122,237 
Compeq Manufacturing Co. Ltd. 40,000 39,783 
Coretronic Corp. 14,000 18,602 
CTCI Corp. 10,000 16,816 
Cub Elecparts, Inc. 2,200 28,105 
Delta Electronics, Inc. 99,000 358,290 
E Ink Holdings, Inc. 22,000 24,300 
E.SUN Financial Holdings Co. Ltd. 374,387 264,280 
ECLAT Textile Co. Ltd. 9,060 109,110 
EGiS Technology, Inc. (a) 1,000 4,774 
Elan Microelectronics Corp. 3,000 4,334 
Elite Advanced Laser Corp. 1,200 4,197 
Elite Material Co. Ltd. 8,000 19,570 
eMemory Technology, Inc. 6,000 73,898 
Ennoconn Corp. 1,000 16,153 
EPISTAR Corp. (a) 30,000 40,757 
Eternal Materials Co. Ltd. 9,618 9,197 
EVA Airways Corp. 55,774 29,897 
Evergreen Marine Corp. (Taiwan) (a) 93,566 47,243 
Everlight Electronics Co. Ltd. 11,000 15,389 
Far Eastern Department Stores Co. Ltd. 5,000 3,277 
Far Eastern International Bank 52,254 17,501 
Far Eastern Textile Ltd. 159,000 151,487 
Far EasTone Telecommunications Co. Ltd. 56,000 147,898 
Farglory Land Development Co. Ltd. 10,000 10,938 
Feng Hsin Iron & Steel Co. 17,000 34,176 
Feng Tay Enterprise Co. Ltd. 9,120 41,282 
Firich Enterprise Co. Ltd. 1,030 1,461 
First Financial Holding Co. Ltd. 350,595 240,610 
FLEXium Interconnect, Inc. 20,940 54,623 
Formosa Chemicals & Fibre Corp. 137,000 502,467 
Formosa Petrochemical Corp. 61,000 248,460 
Formosa Plastics Corp. 173,000 606,023 
Formosa Taffeta Co. Ltd. 92,000 103,837 
Foxconn Technology Co. Ltd. 39,010 96,686 
Fubon Financial Holding Co. Ltd. 269,000 459,405 
Genius Electronic Optical Co. Ltd. (a) 3,000 35,239 
Getac Technology Corp. 2,000 2,871 
Giant Manufacturing Co. Ltd. 10,000 50,697 
Giga-Byte Technology Co. Ltd. 36,000 78,578 
Global Unichip Corp. 3,000 28,176 
GlobalWafers Co. Ltd. 9,000 144,936 
Grand Pacific Petrochemical Corp. 41,000 45,283 
Grape King Bio Ltd. 7,000 58,479 
Great Wall Enterprise Co. Ltd. 2,000 2,582 
Greatek Electronics, Inc. 9,000 16,259 
HannStar Display Corp. 76,000 20,806 
Highwealth Construction Corp. 11,000 16,905 
HIWIN Technologies Corp. 11,080 166,613 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 659,000 1,829,684 
Hota Industrial Manufacturing Co. Ltd. 27,063 118,752 
Hotai Motor Co. Ltd. 21,000 205,474 
HTC Corp. (a) 17,000 34,405 
Hua Nan Financial Holdings Co. Ltd. 591,870 357,289 
Huaku Development Co. Ltd. 1,000 2,305 
Innolux Corp. 429,000 159,359 
International Games Systems Co. Ltd. 1,000 5,373 
Inventec Corp. 123,000 93,025 
Kenda Rubber Industrial Co. Ltd. 3,060 3,529 
King Slide Works Co. Ltd. 1,000 14,106 
King Yuan Electronics Co. Ltd. 167,000 164,439 
King's Town Bank 128,000 153,048 
Kinpo Electronics, Inc. 6,000 2,118 
Kinsus Interconnect Technology Corp. 2,000 3,280 
LandMark Optoelectronics Corp. 4,000 37,241 
Largan Precision Co. Ltd. 4,000 464,409 
Lee Chang Yung Chemical Industry Corp. 5,000 7,397 
Lien Hwa Industrial Corp. 55,152 70,284 
Lite-On Technology Corp. 123,009 162,037 
Long Chen Paper Co. Ltd. 48,138 56,068 
Macronix International Co. Ltd. (a) 69,000 109,419 
Makalot Industrial Co. Ltd. 7,000 33,640 
MediaTek, Inc. 65,000 737,975 
Mega Financial Holding Co. Ltd. 385,000 339,279 
Mercuries Life Insurance Co. Ltd. 120,541 65,619 
Merida Industry Co. Ltd. 4,000 17,777 
Merry Electronics Co. Ltd. 5,000 22,984 
Micro-Star International Co. Ltd. 21,000 65,470 
MiTAC Holdings Corp. 5,000 5,400 
Namchow Chemical Industrial Co. Ltd. 1,000 2,031 
Nan Ya Plastics Corp. 205,000 560,498 
Nankang Rubber Tire Co. Ltd. 2,000 1,683 
Nanya Technology Corp. 37,000 114,973 
Neo Solar Power Corp. (a) 6,000 2,483 
Nien Made Enterprise Co. Ltd. 5,000 44,334 
Novatek Microelectronics Corp. 27,000 113,133 
OBI Pharma, Inc. (a) 6,000 33,998 
Oriental Union Chemical Corp. 4,000 4,282 
PChome Online, Inc. 6,062 28,031 
Pegatron Corp. 91,000 211,788 
PharmaEngine, Inc. 1,199 5,650 
PharmaEssentia Corp. (a) 19,000 115,934 
Phison Electronics Corp. 6,000 54,221 
Pou Chen Corp. 84,000 104,862 
Powertech Technology, Inc. 22,000 62,866 
Poya International Co. Ltd. 1,010 11,193 
President Chain Store Corp. 25,000 245,301 
Primax Electronics Ltd. 15,000 30,288 
Prince Housing & Development Corp. 6,000 2,382 
Qisda Corp. 25,000 17,105 
Quanta Computer, Inc. 114,000 206,899 
Radiant Opto-Electronics Corp. 32,000 65,936 
Realtek Semiconductor Corp. 15,000 56,625 
Ruentex Development Co. Ltd. 8,400 10,041 
Ruentex Industries Ltd. 15,000 29,013 
SerComm Corp. 1,000 2,691 
Shin Kong Financial Holding Co. Ltd. 346,000 140,373 
Shin Zu Shing Co. Ltd. 1,000 2,624 
Shinkong Insurance Co. Ltd. 2,000 2,166 
Simplo Technology Co. Ltd. 3,600 20,092 
SINBON Electronics Co. Ltd. 1,000 2,641 
Sino-American Silicon Products, Inc. 29,000 124,245 
Sinopac Holdings Co. 504,407 181,197 
St.Shine Optical Co. Ltd. 3,000 80,289 
Standard Foods Corp. 41,714 93,386 
Synnex Technology International Corp. 173,100 248,166 
Systex Corp. 1,000 2,160 
Ta Chen Stainless Pipe Co. Ltd. 31,443 35,735 
Taichung Commercial Bank Co. Ltd. 123,126 42,491 
TaiMed Biologics, Inc. (a) 7,000 72,630 
Tainan Spinning Co. Ltd. 5,000 2,210 
Taishin Financial Holdings Co. Ltd. 419,132 203,304 
Taiwan Business Bank 46,762 14,345 
Taiwan Cement Corp. 192,480 264,042 
Taiwan Cooperative Financial Holding Co. Ltd. 570,710 331,031 
Taiwan Fertilizer Co. Ltd. 11,000 14,818 
Taiwan Glass Industry Corp. (a) 24,000 16,009 
Taiwan High Speed Rail Corp. 48,000 36,803 
Taiwan Hon Chuan Enterprise Co. Ltd. 2,000 3,473 
Taiwan Mobile Co. Ltd. 80,000 294,909 
Taiwan Paiho Ltd. 17,000 45,408 
Taiwan Secom Co. 33,000 99,007 
Taiwan Semiconductor Manufacturing Co. Ltd. 1,032,000 7,847,173 
Taiwan Shin Kong Security Co. Ltd. 2,000 2,609 
Taiwan Surface Mounting Technology Co. Ltd. (a) 3,000 2,561 
Tatung Co. Ltd. (a) 104,000 77,205 
TCI Co. Ltd. 3,000 43,937 
TECO Electric & Machinery Co. Ltd. 75,000 60,767 
Ton Yi Industrial Corp. 5,000 2,121 
Tong Hsing Electronics Industries Ltd. 6,000 21,032 
Tong Yang Industry Co. Ltd. 5,000 8,989 
Topco Scientific Co. Ltd. 4,304 11,580 
Transcend Information, Inc. 1,000 2,815 
Tripod Technology Corp. 15,000 45,293 
TSRC Corp. 6,000 6,029 
TTY Biopharm Co. Ltd. 1,000 3,376 
Tung Ho Steel Enterprise Corp. 55,000 45,588 
Tung Thih Electronic Co. Ltd. 1,000 3,633 
TXC Corp. 2,000 2,394 
Unified-President Enterprises Corp. 231,000 554,955 
Unimicron Technology Corp. 27,000 15,146 
United Microelectronics Corp. 498,000 268,082 
USI Corp. 5,100 2,478 
Vanguard International Semiconductor Corp. 47,000 95,101 
Visual Photonics Epitaxy Co. Ltd. 14,000 44,623 
Voltronic Power Technology Corp. 1,000 17,765 
Walsin Lihwa Corp. 267,000 181,218 
Walsin Technology Corp. 13,875 87,065 
Waterland Financial Holdings Co. Ltd. 17,253 6,015 
Wei-Chuan Food Corp. (a) 2,000 1,583 
Win Semiconductors Corp. 14,389 107,702 
Winbond Electronics Corp. 146,363 89,423 
Wistron Corp. 195,216 154,961 
Wistron NeWeb Corp. 20,059 46,995 
WPG Holding Co. Ltd. 140,000 188,056 
WT Microelectronics Co. Ltd. 2,235 3,335 
Yageo Corp. 9,289 194,362 
Yieh Phui Enterprise Co. 5,300 1,832 
Yuanta Financial Holding Co. Ltd. 552,000 262,977 
Yuen Foong Yu Paper Manufacturing Co. (a) 105,000 44,705 
Yulon Motor Co. Ltd. 12,000 9,136 
Yungtay Engineering Co. Ltd. 18,000 31,303 
TOTAL TAIWAN  30,153,797 
Thailand - 0.6%   
Advanced Info Service PCL (For. Reg.) 47,100 310,017 
Airports of Thailand PCL (For. Reg.) 168,700 379,469 
Bangkok Airways PCL 65,400 31,299 
Bangkok Bank PCL (For. Reg.) 15,100 96,194 
Bangkok Chain Hospital PCL 97,300 53,519 
Bangkok Dusit Medical Services PCL (For. Reg.) 192,800 137,298 
Bangkok Expressway and Metro PCL 366,500 89,788 
Bangkok Land PCL 1,205,600 70,983 
Banpu PCL (For. Reg.) 150,900 92,107 
Beauty Community PCL 58,800 43,191 
BEC World PCL (For. Reg.) 29,200 9,561 
Berli Jucker PCL (For. Reg) 53,800 101,538 
BTS Group Holdings PCL 366,700 103,335 
Bumrungrad Hospital PCL (For. Reg.) 13,600 81,627 
C.P. ALL PCL (For. Reg.) 204,800 563,302 
Central Pattana PCL (For. Reg.) 57,000 145,411 
CH. Karnchang PCL 2,700 2,044 
Charoen Pokphand Foods PCL (For. Reg.) 153,160 118,173 
Chularat Hospital PCL 25,300 1,564 
Delta Electronics PCL (For. Reg.) 14,400 30,641 
Dynasty Ceramic PCL (For. Reg.) 17,900 1,680 
Electricity Generating PCL (For. Reg.) 9,000 63,436 
Energy Absolute PCL 52,600 59,460 
Energy Earth PCL (d) 7,600 351 
Esso Thailand PCL 74,900 42,401 
Glow Energy PCL (For. Reg.) 28,700 78,154 
Gunkul Engineering PCL 22,283 2,041 
Hana Microelectronics PCL (For. Reg.) 12,900 14,166 
Home Product Center PCL (For. Reg.) 354,800 167,811 
Indorama Ventures PCL (For. Reg.) 61,200 116,122 
IRPC PCL (For. Reg.) 360,500 80,197 
Jasmine International Public Co. Ltd. 265,900 48,976 
Kasikornbank PCL 9,300 58,944 
Kasikornbank PCL (For. Reg.) 70,500 446,834 
KCE Electronics PCL 6,600 14,281 
Kiatnakin Bank PCL (For. Reg.) 34,900 81,313 
Krung Thai Bank PCL (For. Reg.) 212,800 122,202 
Krungthai Card PCL (For. Reg.) 5,700 65,326 
Major Cineplex Group PCL (For. Reg.) 1,400 1,294 
Minor International PCL (For. Reg.) 81,600 103,627 
Muangthai Leasing PCL 52,100 59,939 
PTG Energy PCL 6,300 3,717 
PTT Exploration and Production PCL (For. Reg.) 59,800 253,337 
PTT Global Chemical PCL (For. Reg.) 88,700 274,050 
PTT PCL (For. Reg.) 449,000 798,742 
Robinsons Department Store PCL (For. Reg.) 16,400 34,086 
Siam Cement PCL (For. Reg.) 20,200 298,701 
Siam Commercial Bank PCL (For. Reg.) 72,600 300,623 
Siam Global House PCL 51,598 26,523 
Sino-Thai Engineering & Construction PCL (For. Reg.) 16,300 9,008 
Sri Trang Agro-Industry PCL 17,760 6,603 
Srisawad Corp. PCL 36,800 60,251 
Supalai PCL (For. Reg.) 85,475 62,657 
Superblock Public Co. Ltd. (a) 93,600 3,402 
Thai Airways International PCL (For. Reg.) (a) 60,900 31,121 
Thai Oil PCL (For. Reg.) 50,000 148,800 
Thai Union Frozen Products PCL (For. Reg.) 118,800 67,557 
Thai Vegetable Oil PCL 29,800 33,074 
Thanachart Capital PCL (For. Reg.) 26,800 45,494 
TISCO Financial Group PCL 10,800 30,286 
TMB PCL (For. Reg.) 446,200 33,230 
True Corp. PCL (For. Reg.) 399,500 96,076 
TTW PCL 130,400 51,285 
Vibhavadi Medical Center PCL 93,584 7,388 
WHA Corp. PCL 232,000 28,977 
TOTAL THAILAND  6,794,604 
Turkey - 0.2%   
AG Anadolu Grubu Holding A/S 8,884 47,896 
Akbank T.A.S. 90,481 188,442 
Akcansa Cimento A/S 294 726 
Albaraka Turk Katilim Bankasi A/S 3,589 1,387 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 9,935 65,156 
Anadolu Sigoria 2,500 2,634 
Arcelik A/S 11,166 49,699 
Aselsan A/S 8,078 50,113 
Aygaz A/S 428 1,420 
Bim Birlesik Magazalar A/S JSC 8,021 136,148 
Cimsa Cimento Sanayi Ve Ticaret A/S 254 787 
Coca-Cola Icecek Sanayi A/S 3,284 29,056 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 124,151 74,269 
Eregli Demir ve Celik Fabrikalari T.A.S. 57,872 144,748 
Ford Otomotiv Sanayi A/S 3,281 45,353 
Haci Omer Sabanci Holding A/S 30,143 71,386 
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D (a) 56,075 56,184 
Koc Holding A/S 26,860 90,721 
Petkim Petrokimya Holding A/S 45,995 81,299 
Soda Sanayii AS 46,653 55,472 
TAV Havalimanlari Holding A/S 7,122 38,186 
Tekfen Holding A/S 9,172 34,727 
Tofas Turk Otomobil Fabrikasi A/S 8,164 50,285 
Tupras Turkiye Petrol Rafinerileri A/S 4,942 125,919 
Turk Hava Yollari AO (a) 24,007 98,756 
Turk Sise ve Cam Fabrikalari A/S 66,361 73,678 
Turk Telekomunikasyon (a) 36,680 56,707 
Turkcell Iletisim Hizmet A/S 49,501 170,117 
Turkiye Garanti Bankasi A/S 89,111 202,041 
Turkiye Halk Bankasi A/S 29,067 59,177 
Turkiye Is Bankasi A/S Series C 61,034 92,555 
Turkiye Sinai Kalkinma Bankasi A/S 117,113 40,363 
Turkiye Vakiflar Bankasi TAO 61,575 90,496 
Ulker Biskuvi Sanayi A/S 5,387 28,247 
Yapi ve Kredi Bankasi A/S (a) 23,496 23,021 
TOTAL TURKEY  2,377,171 
United Arab Emirates - 0.1%   
Abu Dhabi Commercial Bank PJSC 88,416 169,218 
Air Arabia PJSC 150,733 50,064 
Aldar Properties PJSC 115,849 66,233 
Arabtec Holding Co. 17,581 9,764 
Damac Properties Dubai Co. PJSC (a) 80,493 60,701 
Dana Gas PJSC 220,857 59,526 
DP World Ltd. 7,021 156,217 
Dubai Investments Ltd. 140,493 72,672 
Dubai Islamic Bank Pakistan Ltd. 50,110 75,032 
Dubai Parks and Resorts PJSC (a) 83,207 8,744 
Emaar Malls Group PJSC (a) 111,607 67,454 
Emaar Properties PJSC 152,278 240,036 
Emirates Telecommunications Corp. 69,363 323,857 
Eshraq Properties Co. PJSC (a) 6,866 1,327 
National Bank of Abu Dhabi PJSC 63,676 214,961 
Waha Capital PJSC 6,006 2,943 
TOTAL UNITED ARAB EMIRATES  1,578,749 
United Kingdom - 11.2%   
3i Group PLC 38,975 505,233 
AA PLC 20,133 37,709 
Abcam PLC 10,446 175,592 
Acacia Mining PLC 2,351 4,661 
Admiral Group PLC 9,978 273,773 
Advanced Medical Solutions Group PLC 6,326 27,477 
Aggreko PLC 11,667 117,638 
Allied Minds PLC (a) 3,073 5,043 
Amerisur Resources PLC (a) 9,213 2,204 
Anglo American PLC (United Kingdom) 55,298 1,301,345 
Antofagasta PLC 17,095 228,851 
AO World PLC (a) 14,204 30,505 
Arrow Global Group PLC 4,919 25,158 
Ascential PLC 11,271 65,388 
Ashmore Group PLC 19,573 110,964 
Ashtead Group PLC 20,268 567,267 
ASOS PLC (a) 2,371 190,823 
Associated British Foods PLC 14,516 540,372 
Assura PLC 59,634 48,930 
AstraZeneca PLC (United Kingdom) 51,798 3,625,983 
Auto Trader Group PLC (c) 48,901 237,616 
Aveva Group PLC 2,982 88,429 
Aviva PLC 158,198 1,149,415 
Babcock International Group PLC 11,094 112,380 
BAE Systems PLC 133,647 1,121,329 
Balfour Beatty PLC 20,627 83,545 
Barclays PLC 699,177 1,993,427 
Barratt Developments PLC 44,762 343,861 
BBA Aviation PLC 39,314 173,087 
Beazley PLC 27,623 224,939 
Bellway PLC 5,243 239,350 
Berkeley Group Holdings PLC 5,561 311,745 
BGEO Group PLC 1,624 77,804 
BHP Billiton PLC 87,236 1,860,083 
Biffa PLC (c) 16,227 46,132 
Big Yellow Group PLC 12,114 153,682 
Blue Prism Group PLC (a) 2,243 43,355 
Bodycote PLC 6,074 75,259 
Bovis Homes Group PLC 8,985 152,827 
BP PLC 799,540 5,938,956 
Brewin Dolphin Holding PLC 17,451 86,730 
British American Tobacco PLC (United Kingdom) 93,412 5,123,416 
British Land Co. PLC 40,090 371,110 
Britvic PLC 9,411 93,090 
BT Group PLC 348,319 1,195,550 
BTG PLC (a) 20,522 193,248 
Bunzl PLC 15,094 438,664 
Burberry Group PLC 17,355 435,682 
Cairn Energy PLC (a) 19,645 61,285 
Capita Group PLC 26,585 70,106 
Capital & Counties Properties PLC 32,797 130,172 
Card Factory PLC 8,017 25,429 
Carnival PLC 7,649 497,149 
Carphone Warehouse Group PLC 54,588 152,557 
Centrica PLC 230,087 487,178 
Chemring Group PLC 30,409 87,496 
Cineworld Group PLC 35,425 126,996 
Civitas Social Housing PLC 12,154 17,234 
Clinigen Group PLC 6,234 75,310 
Close Brothers Group PLC 8,129 171,897 
Cobham PLC (a) 106,354 168,527 
Coca-Cola European Partners PLC 11,069 433,905 
Compass Group PLC 63,427 1,362,191 
ConvaTec Group PLC (c) 52,429 156,773 
Conviviality PLC (d) 5,769 4,019 
Coro Energy PLC (a) 1,621 85 
Costain Group PLC 1,866 11,817 
Countryside Properties PLC (c) 8,773 43,383 
Countrywide PLC (a) 278 413 
Crest Nicholson PLC 7,984 53,529 
Croda International PLC 5,374 330,042 
CVS Group PLC 1,909 25,913 
CYBG PLC 48,341 201,117 
Daily Mail & General Trust PLC Class A 14,123 131,047 
Dairy Crest Group PLC 2,499 18,664 
Dart Group PLC 3,875 45,745 
De La Rue PLC 4,598 33,549 
Debenhams PLC 18,859 5,992 
Dechra Pharmaceuticals PLC 4,831 182,366 
Derwent London PLC 5,464 239,961 
DFS Furniture PLC 13,771 43,131 
Diageo PLC 97,768 3,487,843 
Dialog Semiconductor PLC (a) 3,351 71,768 
Dignity PLC 1,628 24,452 
Diploma PLC 6,915 114,810 
Direct Line Insurance Group PLC 66,382 342,066 
Domino's Pizza UK & IRL PLC 24,401 122,043 
Drax Group PLC 23,908 104,009 
DS Smith PLC 42,990 309,179 
Dunelm Group PLC 2,111 16,391 
easyJet PLC 6,049 132,410 
Electrocomponents PLC 23,365 195,895 
Elementis PLC 15,588 60,861 
EMIS Group PLC 1,676 19,659 
Empiric Student Property PLC 23,726 27,895 
EnQuest PLC (a) 58,344 28,836 
Enterprise Inns PLC (a) 34,056 60,388 
Equiniti Group PLC (c) 12,680 48,093 
Essentra PLC 19,084 115,864 
esure Group PLC 6,609 20,526 
Evraz PLC 17,156 108,221 
Faroe Petroleum PLC (a) 2,833 5,179 
Fenner PLC 6,074 50,841 
Ferrexpo PLC 15,676 50,737 
Fever-Tree Drinks PLC 3,656 142,742 
Firstgroup PLC (a) 54,355 84,484 
Forterra PLC 9,489 41,150 
Fresnillo PLC 8,129 142,688 
G4S PLC (United Kingdom) 69,288 246,962 
Galliford Try PLC 8,705 110,015 
GB Group PLC 4,899 33,385 
Genus PLC 2,800 97,525 
GKN PLC 68,846 437,148 
GlaxoSmithKline PLC 201,922 4,049,983 
Gocompare.com Group PLC 20,148 31,066 
Grainger Trust PLC 16,607 71,652 
Great Portland Estates PLC 9,397 90,222 
Greene King PLC 9,737 73,325 
Greggs PLC 2,983 50,061 
Halfords Group PLC 3,024 15,770 
Halma PLC 15,950 268,551 
Hammerson PLC 32,141 242,924 
Hansteen Holdings PLC 4,785 8,748 
Hargreaves Lansdown PLC 11,386 280,506 
Hastings Group Holdings PLC (c) 28,228 107,258 
Hays PLC 68,438 168,934 
Helical Bar PLC 4,937 25,488 
Hikma Pharmaceuticals PLC 5,320 94,334 
Hill & Smith Holdings PLC 2,058 37,597 
Hochschild Mining PLC 7,631 22,051 
HomeServe PLC 13,003 132,469 
Hostelworld Group PLC (c) 1,535 8,559 
Howden Joinery Group PLC 24,838 163,005 
HSBC Holdings PLC (United Kingdom) 806,652 8,031,014 
Hunting PLC (a) 9,314 102,709 
Hurricane Energy PLC (a) 40,558 23,931 
Ibstock PLC (c) 31,649 129,581 
IG Group Holdings PLC 14,201 162,269 
IMI PLC 12,291 184,778 
Imperial Tobacco Group PLC 39,676 1,422,629 
Inchcape PLC 15,061 150,636 
Indivior PLC (a) 31,065 193,778 
Informa PLC 35,156 357,671 
Inmarsat PLC 20,869 108,055 
InterContinental Hotel Group PLC 7,838 495,179 
Intermediate Capital Group PLC 13,762 205,755 
International Personal Finance PLC 7,621 25,516 
International Quantum Epitaxy PLC (a)(b) 32,218 46,661 
Intertek Group PLC 7,276 490,927 
Intu Properties PLC 32,401 87,116 
Investec PLC 30,172 239,839 
iomart Group PLC 1,226 6,616 
ITE Group PLC 9,928 20,775 
ITV PLC 166,194 346,974 
J Sainsbury PLC 69,600 296,079 
J.D. Weatherspoon PLC 1,928 30,896 
Jackpotjoy PLC (a) 1,132 12,810 
John David Group PLC 19,930 107,281 
John Laing Group PLC (c) 51,300 199,585 
John Menzies PLC 927 8,117 
John Wood Group PLC 25,243 197,600 
Johnson Matthey PLC 7,617 345,420 
JRP Group PLC 41,715 81,090 
Jupiter Fund Management PLC 27,664 173,477 
Just Eat Holding Ltd. (a) 22,275 237,293 
KAZ Minerals PLC (a) 10,534 133,478 
Kcom Group PLC 8,465 11,654 
Keller Group PLC 8,466 120,980 
Keywords Studios PLC 2,469 61,795 
Kier Group PLC 3,223 47,699 
Kingfisher PLC 89,932 375,055 
Laird PLC 30,740 83,328 
Land Securities Group PLC 28,547 388,448 
Legal & General Group PLC 236,874 880,482 
Lloyds Banking Group PLC 2,858,271 2,535,137 
London Stock Exchange Group PLC 12,832 759,630 
Londonmetric Properity PLC 40,117 105,101 
Lonmin PLC (a) 1,093 880 
Lookers PLC 2,630 3,664 
Man Group PLC 77,205 192,594 
Marks & Spencer Group PLC 66,636 263,482 
Marshalls PLC 6,565 38,737 
McCarthy & Stone PLC (c) 17,225 32,108 
Mediclinic International PLC 13,949 128,856 
Meggitt PLC 32,839 213,569 
Melrose Industries PLC 253,151 794,610 
Merlin Entertainments PLC (c) 30,745 155,677 
Metro Bank PLC (a) 3,333 151,514 
Micro Focus International PLC 17,239 297,254 
Mitchells & Butlers PLC 6,311 24,501 
Mitie Group PLC 6,852 17,300 
Mondi PLC 15,717 438,378 
Moneysupermarket.com Group PLC 30,685 126,605 
Morgan Advanced Materials PLC 8,008 37,814 
N Brown Group PLC 3,824 10,771 
National Express Group PLC Class L 22,645 122,270 
National Grid PLC 132,899 1,542,004 
NCC Group Ltd. 7,668 20,754 
NewRiver REIT PLC 15,204 60,701 
NEX Group PLC 16,842 229,081 
Next PLC 6,028 436,182 
NMC Health PLC 3,228 158,561 
Northgate PLC 8,573 43,811 
Nostrum Oil & Gas LP (a) 1,976 8,079 
Ocado Group PLC (a)(b) 20,963 155,381 
Old Mutual PLC 196,202 679,600 
On The Beach Group PLC (c) 3,023 25,470 
OneSavings Bank PLC 9,977 54,529 
Ophir Energy PLC (a) 39,780 32,914 
Oxford Instruments PLC 1,621 20,219 
P2P Global Investments PLC 5,361 58,896 
Pagegroup PLC 14,774 109,324 
Paragon Banking Group PLC 7,344 52,878 
Pearson PLC 30,543 350,165 
Pendragon PLC 85,397 34,094 
Pennon Group PLC 20,124 191,772 
Persimmon PLC 12,671 473,609 
Pets At Home Group PLC 9,173 19,322 
Photo-Me International PLC 11,079 24,373 
Polypipe Group PLC 17,721 93,487 
Premier Foods PLC (a) 23,207 11,965 
Premier Oil PLC (a) 4,370 5,700 
Primary Health Properties PLC 39,684 61,626 
Provident Financial PLC 14,724 134,799 
Prudential PLC 104,541 2,688,173 
Purplebricks Group PLC (a)(b) 10,054 47,891 
PZ Cussons PLC Class L 16,813 56,987 
QinetiQ Group PLC 16,719 53,054 
Rank Group PLC 996 2,400 
Rathbone Brothers PLC 1,656 53,667 
Reckitt Benckiser Group PLC 27,277 2,139,828 
Redde PLC 25,770 61,376 
Redrow PLC 14,846 128,252 
RELX PLC 43,612 933,332 
Renishaw PLC 1,666 108,165 
Rentokil Initial PLC 71,133 300,641 
Restore PLC 3,422 26,712 
Rightmove PLC 4,634 291,230 
Rio Tinto PLC 49,366 2,690,740 
Rolls-Royce Holdings PLC 69,001 797,947 
Rotork PLC 41,450 187,741 
Royal Bank of Scotland Group PLC (a) 139,479 516,519 
Royal Dutch Shell PLC:   
Class A (United Kingdom) 222,500 7,741,046 
Class B (United Kingdom) 146,202 5,219,245 
Royal Mail PLC 34,899 279,240 
RPC Group PLC 15,079 164,164 
RPS Group PLC 29,670 105,589 
RSA Insurance Group PLC 40,231 364,108 
Safestore Holdings PLC 4,786 36,107 
Saga PLC 59,263 110,877 
Sage Group PLC 47,399 414,495 
Savills PLC 10,381 140,414 
Scapa Group PLC 4,991 29,986 
Schroders PLC 4,695 213,364 
Scottish & Southern Energy PLC 41,477 787,176 
Segro PLC 37,752 335,851 
Senior Engineering Group PLC 11,265 45,812 
Serco Group PLC (a) 34,128 45,222 
Severn Trent PLC 8,890 237,434 
Shaftesbury PLC 6,361 88,535 
Shanks Group PLC 22,634 22,311 
SIG PLC 12,607 24,802 
Sirius Minerals PLC (a)(b) 252,896 107,930 
SKY PLC 42,141 799,454 
Smart Metering Systems PLC 2,619 28,664 
Smith & Nephew PLC 34,088 652,821 
Smiths Group PLC 17,389 382,433 
SOCO International PLC 500 721 
Softcat PLC 3,043 28,822 
Sophos Group PLC (c) 12,099 83,117 
Sound Energy PLC (a) 8,859 5,066 
Spectris PLC 6,306 233,532 
Spirax-Sarco Engineering PLC 3,081 244,529 
Spire Healthcare Group PLC (c) 16,378 51,409 
Sports Direct International PLC (a) 6,585 36,516 
SSP Group PLC 18,399 165,202 
St. James's Place Capital PLC 19,627 307,088 
St. Modwen Properties PLC 10,219 57,709 
Stagecoach Group PLC 12,696 27,267 
Standard Chartered PLC (United Kingdom) 136,510 1,441,449 
Standard Life PLC 105,140 528,758 
Stock Spirits Group PLC 10,658 36,609 
SuperGroup PLC 2,109 43,697 
Synthomer PLC 15,742 107,276 
TalkTalk Telecom Group PLC 30,162 53,483 
Tate & Lyle PLC 21,590 170,788 
Taylor Wimpey PLC 143,193 378,004 
Ted Baker PLC 2,919 107,055 
Telecom Plus PLC 3,457 51,495 
Tesco PLC 399,853 1,295,099 
The Go-Ahead Group PLC 2,295 61,326 
The Restaurant Group PLC 3,104 12,965 
The Weir Group PLC 8,684 255,364 
Thomas Cook Group PLC 82,838 140,957 
TORM PLC 167 1,337 
Travis Perkins PLC 12,141 212,107 
Tritax Big Box REIT PLC 65,993 136,097 
Tullett Prebon PLC 22,995 149,169 
Tullow Oil PLC (a) 53,850 168,806 
Ultra Electronics Holdings PLC 3,091 59,916 
Unilever PLC 49,731 2,789,514 
Unite Group PLC 12,428 142,609 
United Utilities Group PLC 26,193 267,997 
Vectura Group PLC (a) 18,438 20,611 
Vedanta Resources PLC 2,315 23,208 
Vesuvius PLC 6,559 53,140 
Victoria PLC (a) 6,214 69,978 
Victrex PLC 2,875 103,779 
Virgin Money Holdings Uk PLC 13,589 52,139 
Vodafone Group PLC 1,079,205 3,149,352 
Watkin Jones PLC 6,697 18,716 
WH Smith PLC 8,059 216,460 
Whitbread PLC 7,779 458,467 
William Hill PLC 34,280 138,182 
WM Morrison Supermarkets PLC 104,955 351,259 
Wolverhampton & Dudley Breweries PLC 23,336 34,665 
Workspace Group PLC 8,125 124,049 
Zpg PLC 7,068 34,933 
TOTAL UNITED KINGDOM  120,769,425 
United States of America - 0.1%   
Sohu.com, Inc. (a) 1,728 53,533 
Southern Copper Corp. 4,661 246,147 
Yum China Holdings, Inc. 15,688 670,819 
TOTAL UNITED STATES OF AMERICA  970,499 
TOTAL COMMON STOCKS   
(Cost $987,821,820)  1,053,031,033 
Nonconvertible Preferred Stocks - 1.3%   
Brazil - 0.6%   
Alpargatas SA (PN) 5,800 25,844 
Banco ABC Brasil SA 3,328 17,822 
Banco Bradesco SA (PN) 148,705 1,467,439 
Banco do Estado Rio Grande do Sul SA 5,300 30,394 
Bradespar SA (PN) 9,679 98,249 
Braskem SA (PN-A) 8,800 114,672 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 9,862 64,185 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 6,761 151,945 
Companhia de Saneamento do Parana 15,500 47,210 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 52,535 126,869 
Companhia Energetica de Sao Paulo Series B 5,300 26,551 
Companhia Paranaense de Energia-Copel (PN-B) 7,200 55,061 
Gerdau SA 42,203 200,582 
Gol Linhas Aereas Inteligentes SA (PN) (a) 2,100 11,641 
Itau Unibanco Holding SA 132,107 1,923,606 
Itausa-Investimentos Itau SA (PN) 169,852 659,878 
Lojas Americanas SA (PN) 34,700 197,609 
Marcopolo SA (PN) 10,100 11,763 
Metalurgica Gerdau SA (PN) 20,800 46,431 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) (a) 186,386 1,222,107 
Telefonica Brasil SA 19,600 274,933 
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.) 16,600 51,650 
TOTAL BRAZIL  6,826,441 
Chile - 0.0%   
Embotelladora Andina SA Class B 5,542 27,557 
Sociedad Quimica y Minera de Chile SA (PN-B) 4,652 254,087 
TOTAL CHILE  281,644 
Colombia - 0.0%   
Bancolombia SA (PN) 6,414 76,038 
Grupo Aval Acciones y Valores SA 145,146 63,816 
Grupo de Inversiones Suramerica SA (a) 9,299 120,833 
TOTAL COLOMBIA  260,687 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 2,277 220,526 
Biotest AG (non-vtg.) 1,682 53,623 
Draegerwerk AG & Co. KGaA (non-vtg.) 125 9,238 
Fuchs Petrolub AG 2,521 135,596 
Henkel AG & Co. KGaA 6,317 804,034 
Jungheinrich AG 2,802 118,565 
Porsche Automobil Holding SE (Germany) 6,677 570,871 
Sartorius AG (non-vtg.) 1,497 231,034 
Sixt AG Preference Shares 548 44,934 
Sto SE & Co. KGaA 28 3,733 
Volkswagen AG 8,265 1,715,103 
TOTAL GERMANY  3,907,257 
Italy - 0.1%   
Buzzi Unicem SpA (Risparmio Shares) 1,220 17,532 
Danieli & C. Officine Meccaniche SpA 1,027 19,694 
Telecom Italia SpA (Risparmio Shares) 414,987 357,312 
TOTAL ITALY  394,538 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 528 88,006 
Daishin Securities Co. Ltd. 4,429 37,593 
Hyundai Motor Co. 1,277 122,820 
Hyundai Motor Co. Series 2 905 97,182 
LG Chemical Ltd. 665 127,917 
LG Household & Health Care Ltd. 112 80,529 
Samsung Electronics Co. Ltd. 901 1,778,574 
TOTAL KOREA (SOUTH)  2,332,621 
Panama - 0.0%   
Avianca Holdings SA 19,286 20,048 
Russia - 0.0%   
AK Transneft OAO 26 71,201 
Surgutneftegas OJSC 311,955 153,519 
TOTAL RUSSIA  224,720 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (a) 4,899,071 6,745 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $12,387,566)  14,254,701 
 Principal Amount Value 
Government Obligations - 0.1%   
United States of America - 0.1%   
U.S. Treasury Bills, yield at date of purchase 1.18% to 1.33% 5/10/18 to 6/21/18 (e)   
(Cost $1,099,504) 1,100,000 1,099,378 
 Shares Value 
Money Market Funds - 1.9%   
Fidelity Cash Central Fund, 1.74% (f) 8,986,286 8,988,083 
Fidelity Securities Lending Cash Central Fund 1.74% (f)(g) 11,887,186 11,888,375 
TOTAL MONEY MARKET FUNDS   
(Cost $20,876,621)  20,876,458 
TOTAL INVESTMENT IN SECURITIES - 101.0%   
(Cost $1,022,185,511)  1,089,261,570 
NET OTHER ASSETS (LIABILITIES) - (1.0)%  (11,150,496) 
NET ASSETS - 100%  $1,078,111,074 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 74 June 2018 $7,498,050 $258,146 $258,146 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 47 June 2018 2,707,670 1,301 1,301 
TME S&P/TSX 60 Index Contracts (Canada) June 2018 716,461 15,173 15,173 
TOTAL FUTURES CONTRACTS     $274,620 

The notional amount of futures purchased as a percentage of Net Assets is 1.0%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $30,281,821.

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

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $10,441,864 or 1.0% of net assets.

 (d) Level 3 security

 (e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,099,378.

 (f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (g) Investment made with cash collateral received from securities on loan.


Affiliated Central Funds

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 $223,551 
Fidelity Securities Lending Cash Central Fund 27,200 
Total $250,751 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $128,157,507 $82,587,687 $45,569,820 $-- 
Consumer Staples 95,828,210 49,699,855 46,122,570 5,785 
Energy 70,725,647 29,315,074 41,405,253 5,320 
Financials 228,557,227 110,299,700 118,257,527 -- 
Health Care 80,704,993 29,470,422 51,224,549 10,022 
Industrials 137,314,929 99,921,172 37,292,718 101,039 
Information Technology 122,764,095 70,768,149 51,943,691 52,255 
Materials 90,557,035 55,897,689 34,659,346 -- 
Real Estate 43,925,902 23,520,755 20,405,147 -- 
Telecommunication Services 37,860,015 9,134,780 28,725,235 -- 
Utilities 30,890,174 19,356,074 11,532,061 2,039 
Government Obligations 1,099,378 -- 1,099,378 -- 
Money Market Funds 20,876,458 20,876,458 -- -- 
Total Investments in Securities: $1,089,261,570 $600,847,815 $488,237,295 $176,460 
Derivative Instruments:     
Assets     
Futures Contracts $274,620 $274,620 $-- $-- 
Total Assets $274,620 $274,620 $-- $-- 
Total Derivative Instruments: $274,620 $274,620 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $127,231,695 
Level 2 to Level 1 $96,908,442 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $274,620 $0 
Total Equity Risk 274,620 
Total Value of Derivatives $274,620 $0 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $11,673,070) — See accompanying schedule:
Unaffiliated issuers (cost $1,001,308,890) 
$1,068,385,112  
Fidelity Central Funds (cost $20,876,621) 20,876,458  
Total Investment in Securities (cost $1,022,185,511)  $1,089,261,570 
Segregated cash with brokers for derivative instruments  127,130 
Cash  142,923 
Foreign currency held at value (cost $2,026,485)  2,021,460 
Receivable for investments sold   
Regular delivery  269,647 
Delayed delivery  271,836 
Receivable for fund shares sold  2,012,994 
Dividends receivable  3,757,488 
Distributions receivable from Fidelity Central Funds  40,692 
Other receivables  131 
Total assets  1,097,905,871 
Liabilities   
Payable for investments purchased $5,315,587  
Payable for fund shares redeemed 2,178,368  
Accrued management fee 52,926  
Payable for daily variation margin on futures contracts 52,891  
Other affiliated payables 24,855  
Other payables and accrued expenses 280,556  
Collateral on securities loaned 11,889,614  
Total liabilities  19,794,797 
Net Assets  $1,078,111,074 
Net Assets consist of:   
Paid in capital  $999,921,591 
Undistributed net investment income  9,248,356 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  1,882,520 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  67,058,607 
Net Assets  $1,078,111,074 
Investor Class:   
Net Asset Value, offering price and redemption price per share ($19,170,839 ÷ 1,524,102 shares)  $12.58 
Premium Class:   
Net Asset Value, offering price and redemption price per share ($581,050,921 ÷ 46,183,351 shares)  $12.58 
Institutional Class:   
Net Asset Value, offering price and redemption price per share ($256,206,558 ÷ 20,363,111 shares)  $12.58 
Institutional Premium Class:   
Net Asset Value, offering price and redemption price per share ($221,682,756 ÷ 17,616,121 shares)  $12.58 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $12,383,786 
Interest  7,322 
Income from Fidelity Central Funds  250,751 
Income before foreign taxes withheld  12,641,859 
Less foreign taxes withheld  (1,184,065) 
Total income  11,457,794 
Expenses   
Management fee $261,657  
Transfer agent fees 127,177  
Independent trustees' fees and expenses 1,548  
Miscellaneous 1,115  
Total expenses before reductions 391,497  
Expense reductions (777) 390,720 
Net investment income (loss)  11,067,074 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $6,914) 530,436  
Fidelity Central Funds (728)  
Foreign currency transactions 326,341  
Futures contracts 2,401,423  
Total net realized gain (loss)  3,257,472 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of decrease in deferred foreign taxes of $5,556) 8,115,297  
Fidelity Central Funds 504  
Assets and liabilities in foreign currencies (60,736)  
Futures contracts 265,366  
Total change in net unrealized appreciation (depreciation)  8,320,431 
Net gain (loss)  11,577,903 
Net increase (decrease) in net assets resulting from operations  $22,644,977 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) Year ended October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $11,067,074 $8,251,362 
Net realized gain (loss) 3,257,472 2,020,325 
Change in net unrealized appreciation (depreciation) 8,320,431 59,037,611 
Net increase (decrease) in net assets resulting from operations 22,644,977 69,309,298 
Distributions to shareholders from net investment income (9,481,475) (438,332) 
Distributions to shareholders from net realized gain (3,257,844) (81,892) 
Total distributions (12,739,319) (520,224) 
Share transactions - net increase (decrease) 423,336,212 518,835,415 
Redemption fees 11,499 38,564 
Total increase (decrease) in net assets 433,253,369 587,663,053 
Net Assets   
Beginning of period 644,857,705 57,194,652 
End of period $1,078,111,074 $644,857,705 
Other Information   
Undistributed net investment income end of period $9,248,356 $7,662,757 

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


Financial Highlights

Fidelity Total International Index Fund Investor Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.38 $10.08 $10.00 
Income from Investment Operations    
Net investment income (loss)B .15 .29 .08 
Net realized and unrealized gain (loss) .26 2.05 C 
Total from investment operations .41 2.34 .08 
Distributions from net investment income (.16) (.03) – 
Distributions from net realized gain (.06) (.01) – 
Total distributions (.21)D (.04) – 
Redemption fees added to paid in capitalB,C – – – 
Net asset value, end of period $12.58 $12.38 $10.08 
Total ReturnE,F 3.39% 23.31% .80% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .17%I .18% .21%I 
Expenses net of fee waivers, if any .17%I .18% .18%I 
Expenses net of all reductions .17%I .18% .18%I 
Net investment income (loss) 2.46%I 2.53% 1.97%I 
Supplemental Data    
Net assets, end of period (000 omitted) $19,171 $13,060 $3,170 
Portfolio turnover rateJ 2%I 2% 1%K 

 A For the period June 7, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

 D Total distributions of $.21 per share is comprised of distributions from net investment income of $.156 and distributions from net realized gain of $.057 per share.

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

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

 G 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.

 H 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. 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 class.

 I Annualized

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

 K Amount not annualized.


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


Fidelity Total International Index Fund Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.39 $10.09 $10.00 
Income from Investment Operations    
Net investment income (loss)B .16 .30 .08 
Net realized and unrealized gain (loss) .25 2.04 .01 
Total from investment operations .41 2.34 .09 
Distributions from net investment income (.16) (.04) – 
Distributions from net realized gain (.06) (.01) – 
Total distributions (.22) (.04)C – 
Redemption fees added to paid in capitalB,D – – – 
Net asset value, end of period $12.58 $12.39 $10.09 
Total ReturnE,F 3.38% 23.34% .90% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .10%I .11% .11%I 
Expenses net of fee waivers, if any .10%I .11% .11%I 
Expenses net of all reductions .10%I .11% .11%I 
Net investment income (loss) 2.53%I 2.60% 2.05%I 
Supplemental Data    
Net assets, end of period (000 omitted) $581,051 $391,741 $51,494 
Portfolio turnover rateJ 2%I 2% 1%K 

 A For the period June 7, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Total distributions of $.04 per share is comprised of distributions from net investment income of $.037 and distributions from net realized gain of $.007 per share.

 D Amount represents less than $.005 per share.

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

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

 G 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.

 H 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. 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 class.

 I Annualized

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

 K Amount not annualized.


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


Fidelity Total International Index Fund Institutional Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.39 $10.09 $10.00 
Income from Investment Operations    
Net investment income (loss)B .16 .30 .08 
Net realized and unrealized gain (loss) .25 2.05 .01 
Total from investment operations .41 2.35 .09 
Distributions from net investment income (.17) (.04) – 
Distributions from net realized gain (.06) (.01) – 
Total distributions (.22)C (.05) – 
Redemption fees added to paid in capitalB,D – – – 
Net asset value, end of period $12.58 $12.39 $10.09 
Total ReturnE,F 3.40% 23.35% .90% 
Ratios to Average Net AssetsG,H    
Expenses before reductions .08%I .09% .13%I 
Expenses net of fee waivers, if any .08%I .09% .09%I 
Expenses net of all reductions .08%I .09% .09%I 
Net investment income (loss) 2.55%I 2.62% 2.06%I 
Supplemental Data    
Net assets, end of period (000 omitted) $256,207 $104,569 $1,241 
Portfolio turnover rateJ 2%I 2% 1%K 

 A For the period June 7, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Total distributions of $.22 per share is comprised of distributions from net investment income of $.167 and distributions from net realized gain of $.057 per share.

 D Amount represents less than $.005 per share.

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

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

 G 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.

 H 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. 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 class.

 I Annualized

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

 K Amount not annualized.


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


Fidelity Total International Index Fund Institutional Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2018 2017 2016 A 
Selected Per–Share Data    
Net asset value, beginning of period $12.39 $10.09 $10.00 
Income from Investment Operations    
Net investment income (loss)B .16 .31 .08 
Net realized and unrealized gain (loss) .26 2.04 .01 
Total from investment operations .42 2.35 .09 
Distributions from net investment income (.17) (.04) – 
Distributions from net realized gain (.06) (.01) – 
Total distributions (.23) (.05) – 
Redemption fees added to paid in capitalB,C – – – 
Net asset value, end of period $12.58 $12.39 $10.09 
Total ReturnD,E 3.42% 23.37% .90% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .06%H .06% .10%H 
Expenses net of fee waivers, if any .06%H .06% .06%H 
Expenses net of all reductions .06%H .06% .06%H 
Net investment income (loss) 2.57%H 2.65% 2.09%H 
Supplemental Data    
Net assets, end of period (000 omitted) $221,683 $135,488 $1,289 
Portfolio turnover rateI 2%H 2% 1%J 

 A For the period June 7, 2016 (commencement of operations) to October 31, 2016.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than $.005 per share.

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

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

 F 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.

 G 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. 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 class.

 H Annualized

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

 J Amount not annualized.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity Total International Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. 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 offers Investor Class, Premium Class, Institutional Class and Institutional Premium 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. The Fund offers conversion privileges between share classes to eligible shareholders. 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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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 April 30, 2018, including information on transfers between Levels 1 and 2, 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.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of the 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 the 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.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

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

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $108,860,333 
Gross unrealized depreciation (41,513,800) 
Net unrealized appreciation (depreciation) $67,346,533 
Tax cost $1,022,189,657 

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital. In November 2017, the Board of Trustees approved the elimination of these redemption fees effective December 18, 2017.

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in the Fund's Schedule of Investments. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. 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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $429,278,072 and $7,434,817, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. 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. The management fee is based on an annual rate of .06% of the Fund's average net assets. Under the management contract, the investment adviser pays all other fund-level expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense, including commitment fees.

In addition, under the 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 .17% 
Premium Class .10% 
Institutional Class .08% 
Institutional Premium Class .06% 

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.

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. FIIOC receives transfer agent fees at an annual rate of .21%, .11%, .035% and .015% of class-level average net assets for Investor Class, Premium Class, Institutional Class and Institutional Premium Class, respectively. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Under the expense contract, Investor Class, Premium Class and Institutional Class pay a portion of the transfer agent fees at an annual rate of .11%, .04% and .02% of class-level average net assets, respectively, and Institutional Premium Class does not pay transfer agent fees.

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

 Amount % of Class-Level Average Net Assets(a) 
Investor Class $9,028 .11 
Premium Class 98,483 .04 
Institutional Class 19,666 .02 
 $127,177  

 (a) Annualized


Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

Other. During the period, the investment adviser reimbursed the Fund for certain losses in the amount of $4,003.

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 $1,115 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

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. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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 $27,200.

9. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's expenses by $777.

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2018 
Year ended
October 31, 2017 
From net investment income   
Investor Class $176,099 $12,356 
Premium Class 5,601,261 274,306 
Institutional Class 1,845,464 147,084 
Institutional Premium Class 1,858,651 4,586 
Total $9,481,475 $438,332 
From net realized gain   
Investor Class $64,345 $2,668 
Premium Class 1,939,212 51,468 
Institutional Class 629,512 26,952 
Institutional Premium Class 624,775 804 
Total $3,257,844 $81,892 

11. Share Transactions.

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

 Shares Shares Dollars Dollars 
 Six months ended April 30, 2018 Year ended October 31, 2017 Six months ended April 30, 2018 Year ended October 31, 2017 
Investor Class     
Shares sold 1,414,038 2,080,742 $17,897,932 $23,149,243 
Reinvestment of distributions 19,410 1,459 236,609 14,518 
Shares redeemed (964,171) (1,341,742) (12,236,263) (15,054,293) 
Net increase (decrease) 469,277 740,459 $5,898,278 $8,109,468 
Premium Class     
Shares sold 18,542,143 29,938,258 $234,584,468 $332,799,582 
Reinvestment of distributions 578,359 29,064 7,050,193 289,118 
Shares redeemed (4,557,762) (3,451,383) (57,717,084) (39,220,046) 
Net increase (decrease) 14,562,740 26,515,939 $183,917,577 $293,868,654 
Institutional Class     
Shares sold 15,174,273 8,773,177 $190,471,670 $96,370,730 
Reinvestment of distributions 202,632 17,495 2,470,085 174,036 
Shares redeemed (3,453,132) (474,363) (43,773,451) (5,749,005) 
Net increase (decrease) 11,923,773 8,316,309 $149,168,304 $90,795,761 
Institutional Premium Class     
Shares sold 6,551,340 10,950,498 $82,765,590 $127,826,848 
Reinvestment of distributions 203,726 542 2,483,426 5,390 
Shares redeemed (70,990) (146,727) (896,963) (1,770,706) 
Net increase (decrease) 6,684,076 10,804,313 $84,352,053 $126,061,532 

12. 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.

Shareholder Expense Example

As a shareholder of the 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 Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2017 to April 30, 2018).

Actual Expenses

The first line of the accompanying table for each class of the 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, 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 for each class of the 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, 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.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Investor Class .17%    
Actual  $1,000.00 $1,033.90 $.86 
Hypothetical-C  $1,000.00 $1,023.95 $.85 
Premium Class .10%    
Actual  $1,000.00 $1,033.80 $.50 
Hypothetical-C  $1,000.00 $1,024.30 $.50 
Institutional Class .08%    
Actual  $1,000.00 $1,034.00 $.40 
Hypothetical-C  $1,000.00 $1,024.40 $.40 
Institutional Premium Class .06%    
Actual  $1,000.00 $1,034.20 $.30 
Hypothetical-C  $1,000.00 $1,024.50 $.30 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

TI1-I-SANN-0618
1.9879614.101


Fidelity® U.S. Sustainability Index Fund
Investor Class, Premium Class and Institutional Class



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Microsoft Corp. 5.8 
Johnson & Johnson 2.9 
Alphabet, Inc. Class C 2.7 
Intel Corp. 2.1 
Cisco Systems, Inc. 1.9 
Verizon Communications, Inc. 1.7 
Procter & Gamble Co. 1.5 
The Coca-Cola Co. 1.5 
MasterCard, Inc. Class A 1.4 
Merck & Co., Inc. 1.4 
 22.9 

Top Five Market Sectors as of April 30, 2018

 % of fund's net assets 
Information Technology 24.7 
Financials 13.8 
Health Care 13.0 
Consumer Discretionary 13.0 
Industrials 9.8 

Asset Allocation (% of fund's net assets)

As of April 30, 2018* 
   Stocks and Equity Futures 99.0% 
   Short-Term Investments and Net Other Assets (Liabilities) 1.0% 


 * Foreign investments - 5.7%


Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.7%   
 Shares Value 
CONSUMER DISCRETIONARY - 13.0%   
Auto Components - 0.4%   
Aptiv PLC 983 $83,142 
Autoliv, Inc. 325 43,566 
BorgWarner, Inc. 794 38,858 
  165,566 
Automobiles - 0.7%   
Ford Motor Co. 13,684 153,808 
Harley-Davidson, Inc. 604 24,843 
Tesla, Inc. (a) 495 145,481 
  324,132 
Distributors - 0.1%   
LKQ Corp. (a) 1,162 36,045 
Hotels, Restaurants & Leisure - 3.0%   
ARAMARK Holdings Corp. 913 34,137 
Darden Restaurants, Inc. 461 42,808 
Domino's Pizza, Inc. 163 39,402 
Hilton Worldwide Holdings, Inc. 1,058 83,413 
Marriott International, Inc. Class A 1,141 155,952 
McDonald's Corp. 2,952 494,283 
Royal Caribbean Cruises Ltd. 634 68,592 
Starbucks Corp. 5,268 303,279 
Vail Resorts, Inc. 150 34,397 
Wyndham Worldwide Corp. 380 43,400 
  1,299,663 
Household Durables - 0.4%   
Garmin Ltd. 434 25,463 
Mohawk Industries, Inc. (a) 236 49,532 
Newell Brands, Inc. 1,816 50,176 
Whirlpool Corp. 268 41,527 
  166,698 
Internet & Direct Marketing Retail - 2.0%   
Netflix, Inc. (a) 1,602 500,561 
The Booking Holdings, Inc. (a) 181 394,218 
  894,779 
Leisure Products - 0.2%   
Hasbro, Inc. 419 36,910 
Mattel, Inc. (b) 1,232 18,234 
Polaris Industries, Inc. 212 22,222 
  77,366 
Media - 2.7%   
Charter Communications, Inc. Class A (a) 691 187,461 
Discovery Communications, Inc.:   
Class A (a) 470 11,116 
Class C (non-vtg.) (a) 1,239 27,531 
Liberty Broadband Corp. Class C (a) 399 28,285 
Liberty Global PLC:   
Class A (a) 771 23,238 
Class C (a) 2,037 59,277 
The Walt Disney Co. 5,593 561,146 
Time Warner, Inc. 2,882 273,214 
  1,171,268 
Multiline Retail - 0.4%   
Dollar General Corp. 1,014 97,881 
Kohl's Corp. 635 39,446 
Nordstrom, Inc. 445 22,499 
  159,826 
Specialty Retail - 1.6%   
Advance Auto Parts, Inc. 276 31,588 
AutoNation, Inc. (a) 195 9,007 
Best Buy Co., Inc. 986 75,459 
CarMax, Inc. (a) 681 42,563 
Gap, Inc. 839 24,532 
Lowe's Companies, Inc. 3,081 253,967 
Ross Stores, Inc. 1,433 115,858 
Tiffany & Co., Inc. 463 47,610 
Tractor Supply Co. 469 31,892 
Ulta Beauty, Inc. (a) 214 53,695 
  686,171 
Textiles, Apparel & Luxury Goods - 1.5%   
Hanesbrands, Inc. 1,369 25,285 
lululemon athletica, Inc. (a) 377 37,625 
Michael Kors Holdings Ltd. (a) 569 38,931 
NIKE, Inc. Class B 4,861 332,444 
PVH Corp. 288 45,985 
Tapestry, Inc. 1,060 56,996 
Under Armour, Inc.:   
Class A (sub. vtg.) (a) 722 12,823 
Class C (non-vtg.) (a) 669 10,269 
VF Corp. 1,237 100,036 
  660,394 
TOTAL CONSUMER DISCRETIONARY  5,641,908 
CONSUMER STAPLES - 7.1%   
Beverages - 2.9%   
Dr. Pepper Snapple Group, Inc. 667 80,013 
PepsiCo, Inc. 5,265 531,449 
The Coca-Cola Co. 14,985 647,502 
  1,258,964 
Food Products - 1.5%   
Bunge Ltd. 523 37,776 
Campbell Soup Co. 646 26,344 
General Mills, Inc. 2,114 92,466 
Hormel Foods Corp. 1,086 39,368 
Kellogg Co. 953 56,132 
McCormick & Co., Inc. (non-vtg.) 447 47,118 
Mondelez International, Inc. 5,541 218,870 
The Kraft Heinz Co. 2,250 126,855 
  644,929 
Household Products - 2.4%   
Clorox Co. 480 56,256 
Colgate-Palmolive Co. 3,089 201,495 
Kimberly-Clark Corp. 1,306 135,223 
Procter & Gamble Co. 9,391 679,345 
  1,072,319 
Personal Products - 0.3%   
Estee Lauder Companies, Inc. Class A 831 123,063 
TOTAL CONSUMER STAPLES  3,099,275 
ENERGY - 6.5%   
Energy Equipment & Services - 1.2%   
Baker Hughes, a GE Co. Class A 1,512 54,598 
National Oilwell Varco, Inc. 1,410 54,525 
Schlumberger Ltd. 5,128 351,576 
TechnipFMC PLC 1,660 54,714 
  515,413 
Oil, Gas & Consumable Fuels - 5.3%   
Andeavor 548 75,799 
Antero Resources Corp. (a) 801 15,219 
Apache Corp. 1,415 57,944 
Cheniere Energy, Inc. (a) 751 43,678 
Cimarex Energy Co. 357 35,911 
Concho Resources, Inc. (a) 550 86,466 
ConocoPhillips Co. 4,430 290,165 
Continental Resources, Inc. (a) 335 22,130 
Devon Energy Corp. 1,829 66,448 
EOG Resources, Inc. 2,143 253,238 
EQT Corp. 941 47,229 
Hess Corp. 1,050 59,840 
Kinder Morgan, Inc. 7,464 118,080 
Marathon Oil Corp. 3,163 57,725 
Marathon Petroleum Corp. 1,798 134,688 
Newfield Exploration Co. (a) 749 22,320 
Noble Energy, Inc. 1,720 58,188 
Occidental Petroleum Corp. 2,836 219,109 
ONEOK, Inc. 1,420 85,512 
Phillips 66 Co. 1,611 179,320 
Pioneer Natural Resources Co. 631 127,178 
Range Resources Corp. 885 12,257 
The Williams Companies, Inc. 3,075 79,120 
Valero Energy Corp. 1,621 179,818 
  2,327,382 
TOTAL ENERGY  2,842,795 
FINANCIALS - 13.8%   
Banks - 3.4%   
BB&T Corp. 2,903 153,278 
CIT Group, Inc. 470 24,887 
Citizens Financial Group, Inc. 1,828 75,844 
Comerica, Inc. 650 61,477 
East West Bancorp, Inc. 545 36,308 
Fifth Third Bancorp 2,586 85,778 
First Republic Bank 578 53,679 
KeyCorp 3,994 79,560 
M&T Bank Corp. 507 92,411 
Peoples United Financial, Inc. 1,246 22,789 
PNC Financial Services Group, Inc. 1,768 257,438 
Regions Financial Corp. 4,244 79,363 
Signature Bank (a) 197 25,049 
SVB Financial Group (a) 194 58,124 
U.S. Bancorp 6,167 311,125 
Zions Bancorporation 757 41,446 
  1,458,556 
Capital Markets - 4.8%   
Ameriprise Financial, Inc. 551 77,256 
Bank of New York Mellon Corp. 3,796 206,920 
BlackRock, Inc. Class A 445 232,068 
Charles Schwab Corp. 4,470 248,890 
CME Group, Inc. 1,260 198,677 
E*TRADE Financial Corp. (a) 980 59,466 
Eaton Vance Corp. (non-vtg.) 450 24,476 
Franklin Resources, Inc. 1,254 42,185 
IntercontinentalExchange, Inc. 2,167 157,021 
Invesco Ltd. 1,508 43,687 
Moody's Corp. 638 103,484 
Northern Trust Corp. 803 85,720 
Raymond James Financial, Inc. 493 44,247 
S&P Global, Inc. 944 178,038 
SEI Investments Co. 496 31,362 
State Street Corp. 1,369 136,599 
T. Rowe Price Group, Inc. 893 101,641 
TD Ameritrade Holding Corp. 1,045 60,704 
The NASDAQ OMX Group, Inc. 432 38,154 
  2,070,595 
Consumer Finance - 0.9%   
Ally Financial, Inc. 1,633 42,621 
American Express Co. 2,734 269,983 
Discover Financial Services 1,355 96,544 
  409,148 
Diversified Financial Services - 0.1%   
Voya Financial, Inc. 673 35,232 
Insurance - 4.5%   
AFLAC, Inc. 2,920 133,064 
Allstate Corp. 1,326 129,709 
American Financial Group, Inc. 282 31,928 
American International Group, Inc. 3,315 185,640 
Aon PLC 927 132,070 
Arch Capital Group Ltd. (a) 488 39,103 
Arthur J. Gallagher & Co. 678 47,453 
Assurant, Inc. 195 18,100 
Axis Capital Holdings Ltd. 294 17,258 
Chubb Ltd. 1,713 232,403 
Hartford Financial Services Group, Inc. 1,307 70,369 
Lincoln National Corp. 802 56,653 
Loews Corp. 1,093 57,339 
Marsh & McLennan Companies, Inc. 1,887 153,791 
Principal Financial Group, Inc. 1,059 62,714 
Progressive Corp. 2,154 129,865 
Prudential Financial, Inc. 1,568 166,710 
Reinsurance Group of America, Inc. 242 36,155 
RenaissanceRe Holdings Ltd. 145 19,726 
The Travelers Companies, Inc. 1,012 133,179 
Willis Group Holdings PLC 468 69,503 
XL Group Ltd. 951 52,866 
  1,975,598 
Mortgage Real Estate Investment Trusts - 0.1%   
Annaly Capital Management, Inc. 4,339 44,995 
Thrifts & Mortgage Finance - 0.0%   
New York Community Bancorp, Inc. 1,778 21,123 
TOTAL FINANCIALS  6,015,247 
HEALTH CARE - 13.0%   
Biotechnology - 3.4%   
Amgen, Inc. 2,496 435,502 
Biogen, Inc. (a) 783 214,229 
BioMarin Pharmaceutical, Inc. (a) 650 54,282 
Celgene Corp. (a) 2,917 254,071 
Gilead Sciences, Inc. 4,839 349,521 
TESARO, Inc. (a)(b) 136 6,924 
Vertex Pharmaceuticals, Inc. (a) 937 143,511 
  1,458,040 
Health Care Equipment & Supplies - 1.5%   
Align Technology, Inc. (a) 281 70,208 
Becton, Dickinson & Co. 981 227,464 
Dentsply Sirona, Inc. 854 42,990 
Edwards Lifesciences Corp. (a) 784 99,850 
Hologic, Inc. (a) 1,026 39,799 
IDEXX Laboratories, Inc. (a) 320 62,237 
ResMed, Inc. 529 50,065 
Varian Medical Systems, Inc. (a) 340 39,301 
  631,914 
Health Care Providers & Services - 2.3%   
AmerisourceBergen Corp. 605 54,801 
Anthem, Inc. 952 224,662 
Cardinal Health, Inc. 1,163 74,630 
Centene Corp. (a) 637 69,165 
Cigna Corp. 914 157,043 
Envision Healthcare Corp. (a) 435 16,169 
HCA Holdings, Inc. 1,051 100,623 
Henry Schein, Inc. (a) 584 44,384 
Humana, Inc. 530 155,915 
Laboratory Corp. of America Holdings (a) 375 64,031 
Quest Diagnostics, Inc. 505 51,106 
  1,012,529 
Life Sciences Tools & Services - 0.5%   
Agilent Technologies, Inc. 1,191 78,296 
Mettler-Toledo International, Inc. (a) 95 53,193 
Quintiles Transnational Holdings, Inc. (a) 501 47,976 
Waters Corp. (a) 295 55,581 
  235,046 
Pharmaceuticals - 5.3%   
Bristol-Myers Squibb Co. 6,062 316,012 
Johnson & Johnson 9,948 1,258,323 
Merck & Co., Inc. 10,091 594,057 
Zoetis, Inc. Class A 1,805 150,681 
  2,319,073 
TOTAL HEALTH CARE  5,656,602 
INDUSTRIALS - 9.8%   
Aerospace & Defense - 0.5%   
Arconic, Inc. 1,618 28,817 
L3 Technologies, Inc. 290 56,805 
Rockwell Collins, Inc. 597 79,126 
TransDigm Group, Inc. 193 61,870 
  226,618 
Air Freight & Logistics - 0.9%   
C.H. Robinson Worldwide, Inc. 517 47,580 
Expeditors International of Washington, Inc. 665 42,467 
United Parcel Service, Inc. Class B 2,544 288,744 
  378,791 
Airlines - 0.2%   
Delta Air Lines, Inc. 661 34,517 
Southwest Airlines Co. 551 29,109 
  63,626 
Building Products - 0.6%   
A.O. Smith Corp. 528 32,393 
Allegion PLC 340 26,241 
Fortune Brands Home & Security, Inc. 550 30,080 
Johnson Controls International PLC 3,441 116,547 
Lennox International, Inc. 136 26,298 
Masco Corp. 1,207 45,709 
  277,268 
Commercial Services & Supplies - 0.3%   
Waste Management, Inc. 1,613 131,121 
Electrical Equipment - 0.7%   
Acuity Brands, Inc. 151 18,085 
AMETEK, Inc. 858 59,888 
Eaton Corp. PLC 1,624 121,849 
Rockwell Automation, Inc. 473 77,823 
Sensata Technologies, Inc. PLC (a) 643 32,613 
  310,258 
Industrial Conglomerates - 1.2%   
3M Co. 2,208 429,213 
Roper Technologies, Inc. 376 99,335 
  528,548 
Machinery - 2.9%   
AGCO Corp. 230 14,416 
Caterpillar, Inc. 2,206 318,458 
Cummins, Inc. 583 93,198 
Deere & Co. 1,014 137,225 
Dover Corp. 577 53,488 
Flowserve Corp. 466 20,695 
Illinois Tool Works, Inc. 1,137 161,477 
Ingersoll-Rand PLC 926 77,682 
PACCAR, Inc. 1,303 82,962 
Parker Hannifin Corp. 491 80,828 
Pentair PLC 648 43,597 
Snap-On, Inc. 214 31,084 
Stanley Black & Decker, Inc. 568 80,423 
WABCO Holdings, Inc. (a) 183 23,605 
Xylem, Inc. 667 48,624 
  1,267,762 
Professional Services - 0.3%   
IHS Markit Ltd. (a) 1,485 72,958 
Manpower, Inc. 237 22,686 
Robert Half International, Inc. 469 28,492 
  124,136 
Road & Rail - 1.8%   
AMERCO 24 8,100 
CSX Corp. 3,146 186,841 
Kansas City Southern 385 41,053 
Norfolk Southern Corp. 1,060 152,078 
Union Pacific Corp. 2,915 389,531 
  777,603 
Trading Companies & Distributors - 0.4%   
Fastenal Co. 1,069 53,439 
United Rentals, Inc. (a) 315 47,250 
W.W. Grainger, Inc. 200 56,270 
  156,959 
TOTAL INDUSTRIALS  4,242,690 
INFORMATION TECHNOLOGY - 24.7%   
Communications Equipment - 2.0%   
Cisco Systems, Inc. 18,314 811,127 
Motorola Solutions, Inc. 595 65,349 
  876,476 
Electronic Equipment & Components - 0.7%   
Corning, Inc. 3,228 87,221 
Dell Technologies, Inc. (a) 751 53,899 
Flextronics International Ltd. (a) 2,012 26,156 
TE Connectivity Ltd. 1,302 119,459 
Trimble, Inc. (a) 942 32,593 
  319,328 
Internet Software & Services - 2.7%   
Alphabet, Inc. Class C (a) 1,165 1,185,189 
IT Services - 4.3%   
Accenture PLC Class A 2,275 343,980 
Automatic Data Processing, Inc. 1,643 194,005 
Cognizant Technology Solutions Corp. Class A 2,182 178,531 
IBM Corp. 3,258 472,280 
MasterCard, Inc. Class A 3,476 619,667 
The Western Union Co. 1,720 33,970 
  1,842,433 
Semiconductors & Semiconductor Equipment - 5.4%   
Analog Devices, Inc. 1,364 119,145 
Applied Materials, Inc. 3,951 196,246 
Intel Corp. 17,328 894,471 
Lam Research Corp. 600 111,036 
Marvell Technology Group Ltd. 1,457 29,227 
Microchip Technology, Inc. 870 72,784 
NVIDIA Corp. 2,243 504,451 
Skyworks Solutions, Inc. 684 59,344 
Texas Instruments, Inc. 3,647 369,915 
  2,356,619 
Software - 9.0%   
ANSYS, Inc. (a) 316 51,085 
Autodesk, Inc. (a) 732 92,159 
CA Technologies, Inc. 1,174 40,855 
Citrix Systems, Inc. (a) 563 57,938 
Intuit, Inc. 899 166,126 
Microsoft Corp. 27,136 2,537,756 
Oracle Corp. 11,593 529,452 
Salesforce.com, Inc. (a) 2,540 307,315 
Symantec Corp. 2,266 62,972 
Workday, Inc. Class A (a) 507 63,294 
  3,908,952 
Technology Hardware, Storage & Peripherals - 0.6%   
Hewlett Packard Enterprise Co. 5,920 100,936 
HP, Inc. 6,181 132,830 
Xerox Corp. 773 24,311 
  258,077 
TOTAL INFORMATION TECHNOLOGY  10,747,074 
MATERIALS - 3.1%   
Chemicals - 2.4%   
Air Products & Chemicals, Inc. 813 131,942 
Albemarle Corp. U.S. 412 39,948 
Axalta Coating Systems Ltd. (a) 786 24,287 
Celanese Corp. Class A 506 54,987 
Eastman Chemical Co. 530 54,102 
Ecolab, Inc. 965 139,703 
International Flavors & Fragrances, Inc. 299 42,237 
LyondellBasell Industries NV Class A 1,236 130,682 
PPG Industries, Inc. 945 100,057 
Praxair, Inc. 1,058 161,366 
Sherwin-Williams Co. 312 114,710 
The Mosaic Co. 1,246 33,580 
  1,027,601 
Containers & Packaging - 0.5%   
Avery Dennison Corp. 330 34,587 
Ball Corp. 1,237 49,591 
International Paper Co. 1,451 74,814 
Sealed Air Corp. 652 28,590 
WestRock Co. 938 55,492 
  243,074 
Metals & Mining - 0.2%   
Nucor Corp. 1,178 72,588 
TOTAL MATERIALS  1,343,263 
REAL ESTATE - 2.9%   
Equity Real Estate Investment Trusts (REITs) - 2.7%   
Alexandria Real Estate Equities, Inc. 365 45,468 
American Tower Corp. 1,588 216,540 
Boston Properties, Inc. 573 69,568 
Brixmor Property Group, Inc. 1,103 16,424 
Camden Property Trust (SBI) 336 28,694 
Duke Realty Corp. 1,279 34,661 
Equinix, Inc. 290 122,029 
Federal Realty Investment Trust (SBI) 260 30,121 
HCP, Inc. 1,765 41,230 
Host Hotels & Resorts, Inc. 2,743 53,653 
Iron Mountain, Inc. 999 33,906 
Liberty Property Trust (SBI) 531 22,206 
Prologis, Inc. 1,957 127,029 
SBA Communications Corp. Class A (a) 433 69,380 
The Macerich Co. 427 24,604 
UDR, Inc. 1,066 38,536 
Vornado Realty Trust 641 43,607 
Welltower, Inc. 1,381 73,801 
Weyerhaeuser Co. 2,797 102,874 
  1,194,331 
Real Estate Management & Development - 0.2%   
CBRE Group, Inc. (a) 1,132 51,291 
Jones Lang LaSalle, Inc. 163 27,630 
  78,921 
TOTAL REAL ESTATE  1,273,252 
TELECOMMUNICATION SERVICES - 2.0%   
Diversified Telecommunication Services - 2.0%   
CenturyLink, Inc. 3,583 66,572 
Verizon Communications, Inc. 15,283 754,216 
Zayo Group Holdings, Inc. (a) 663 24,067 
  844,855 
Wireless Telecommunication Services - 0.0%   
Sprint Corp. (a)(b) 2,868 16,089 
TOTAL TELECOMMUNICATION SERVICES  860,944 
UTILITIES - 2.8%   
Electric Utilities - 1.1%   
Alliant Energy Corp. 853 36,636 
Edison International 1,207 79,083 
Eversource Energy 1,184 71,336 
Pinnacle West Capital Corp. 398 32,039 
Southern Co. 3,719 171,520 
Xcel Energy, Inc. 1,930 90,401 
  481,015 
Independent Power and Renewable Electricity Producers - 0.1%   
The AES Corp. 2,373 29,046 
Multi-Utilities - 1.5%   
CenterPoint Energy, Inc. 1,536 38,907 
CMS Energy Corp. 1,013 47,803 
Consolidated Edison, Inc. 1,151 92,230 
Dominion Resources, Inc. 2,388 158,945 
NiSource, Inc. 1,224 29,853 
Public Service Enterprise Group, Inc. 1,862 97,103 
Sempra Energy 879 98,272 
WEC Energy Group, Inc. 1,174 75,465 
  638,578 
Water Utilities - 0.1%   
American Water Works Co., Inc. 662 57,316 
TOTAL UTILITIES  1,205,955 
TOTAL COMMON STOCKS   
(Cost $41,970,425)  42,929,005 
Money Market Funds - 0.4%   
Fidelity Cash Central Fund, 1.74% (c) 125,988 126,013 
Fidelity Securities Lending Cash Central Fund 1.74% (c)(d) 41,671 41,675 
TOTAL MONEY MARKET FUNDS   
(Cost $167,688)  167,688 
TOTAL INVESTMENT IN SECURITIES - 99.1%   
(Cost $42,138,113)  43,096,693 
NET OTHER ASSETS (LIABILITIES) - 0.9%  372,184 
NET ASSETS - 100%  $43,468,877 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) June 2018 $132,350 $2,682 $2,682 

The notional amount of futures purchased as a percentage of Net Assets is 0.3%

Legend

 (a) Non-income producing

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

 (c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (d) Investment made with cash collateral received from securities on loan.


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 $3,168 
Fidelity Securities Lending Cash Central Fund 31 
Total $3,199 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

All investments and derivative instruments are categorized as Level 1 under the Fair Value Hierarchy. 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 please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $2,682 $0 
Total Equity Risk 2,682 
Total Value of Derivatives $2,682 $0 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $38,559) — See accompanying schedule:
Unaffiliated issuers (cost $41,970,425) 
$42,929,005  
Fidelity Central Funds (cost $167,688) 167,688  
Total Investment in Securities (cost $42,138,113)  $43,096,693 
Segregated cash with brokers for derivative instruments  5,800 
Receivable for fund shares sold  717,193 
Dividends receivable  43,907 
Distributions receivable from Fidelity Central Funds  959 
Total assets  43,864,552 
Liabilities   
Payable for investments purchased $346,581  
Payable for fund shares redeemed 1,033  
Accrued management fee 2,727  
Payable for daily variation margin on futures contracts 1,220  
Other affiliated payables 2,439  
Collateral on securities loaned 41,675  
Total liabilities  395,675 
Net Assets  $43,468,877 
Net Assets consist of:   
Paid in capital  $42,331,735 
Undistributed net investment income  197,129 
Accumulated undistributed net realized gain (loss) on investments  (21,248) 
Net unrealized appreciation (depreciation) on investments  961,261 
Net Assets  $43,468,877 
Investor Class:   
Net Asset Value, offering price and redemption price per share ($6,895,755 ÷ 614,743 shares)  $11.22 
Premium Class:   
Net Asset Value, offering price and redemption price per share ($35,880,952 ÷ 3,198,029 shares)  $11.22 
Institutional Class:   
Net Asset Value, offering price and redemption price per share ($692,170 ÷ 61,687 shares)  $11.22 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $293,252 
Interest  10 
Income from Fidelity Central Funds  3,199 
Total income  296,461 
Expenses   
Management fee $12,197  
Transfer agent fees 10,955  
Independent trustees' fees and expenses 51  
Miscellaneous  
Total expenses before reductions 23,210  
Expense reductions (36) 23,174 
Net investment income (loss)  273,287 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (11,377)  
Fidelity Central Funds  
Futures contracts 4,392  
Total net realized gain (loss)  (6,984) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 177,680  
Futures contracts (3,157)  
Total change in net unrealized appreciation (depreciation)  174,523 
Net gain (loss)  167,539 
Net increase (decrease) in net assets resulting from operations  $440,826 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) For the period
May 9, 2017 (commencement of operations) to October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $273,287 $80,183 
Net realized gain (loss) (6,984) (4,131) 
Change in net unrealized appreciation (depreciation) 174,523 786,738 
Net increase (decrease) in net assets resulting from operations 440,826 862,790 
Distributions to shareholders from net investment income (156,341) – 
Distributions to shareholders from net realized gain (10,133) – 
Total distributions (166,474) – 
Share transactions - net increase (decrease) 25,698,035 16,633,700 
Total increase (decrease) in net assets 25,972,387 17,496,490 
Net Assets   
Beginning of period 17,496,490 – 
End of period $43,468,877 $17,496,490 
Other Information   
Undistributed net investment income end of period $197,129 $80,183 

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


Financial Highlights

Fidelity U.S. Sustainability Index Fund Investor Class

 Six months ended (Unaudited) April 30, Years endedOctober 31, 
 2018 2017 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.89 $10.00 
Income from Investment Operations   
Net investment income (loss)B .10 .09 
Net realized and unrealized gain (loss) .31 .80 
Total from investment operations .41 .89 
Distributions from net investment income (.07) – 
Distributions from net realized gain (.01) – 
Total distributions (.08) – 
Net asset value, end of period $11.22 $10.89 
Total ReturnC,D 3.75% 8.90% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .21%G .21%G 
Expenses net of fee waivers, if any .21%G .21%G 
Expenses net of all reductions .21%G .21%G 
Net investment income (loss) 1.73%G 1.76%G 
Supplemental Data   
Net assets, end of period (000 omitted) $6,896 $3,214 
Portfolio turnover rateH 2%G 3%I 

 A For the period May 9, 2017 (commencement of operations) to October 31, 2017.

 B Calculated based on average shares outstanding during the period.

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

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

 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 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. 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 class.

 G Annualized

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

 I Amount not annualized.


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


Fidelity U.S. Sustainability Index Fund Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31, 
 2018 2017 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.89 $10.00 
Income from Investment Operations   
Net investment income (loss)B .10 .09 
Net realized and unrealized gain (loss) .31 .80 
Total from investment operations .41 .89 
Distributions from net investment income (.08) – 
Distributions from net realized gain (.01) – 
Total distributions (.08)C – 
Net asset value, end of period $11.22 $10.89 
Total ReturnD,E 3.80% 8.90% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .14%H .14%H 
Expenses net of fee waivers, if any .14%H .14%H 
Expenses net of all reductions .14%H .14%H 
Net investment income (loss) 1.80%H 1.83%H 
Supplemental Data   
Net assets, end of period (000 omitted) $35,881 $13,724 
Portfolio turnover rateI 2%H 3%J 

 A For the period May 9, 2017 (commencement of operations) to October 31, 2017.

 B Calculated based on average shares outstanding during the period.

 C Total distributions of $.08 per share is comprised of distributions from net investment income of $.078 and distributions from net realized gain of $.005 per share.

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

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

 F 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.

 G 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. 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 class.

 H Annualized

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

 J Amount not annualized.


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


Fidelity U.S. Sustainability Index Fund Institutional Class

 Six months ended (Unaudited) April 30, Years endedOctober 31, 
 2018 2017 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.90 $10.00 
Income from Investment Operations   
Net investment income (loss)B .10 .09 
Net realized and unrealized gain (loss) .31 .81 
Total from investment operations .41 .90 
Distributions from net investment income (.08) – 
Distributions from net realized gain (.01) – 
Total distributions (.09) – 
Net asset value, end of period $11.22 $10.90 
Total ReturnC,D 3.73% 9.00% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .11%G .11%G 
Expenses net of fee waivers, if any .11%G .11%G 
Expenses net of all reductions .11%G .11%G 
Net investment income (loss) 1.83%G 1.86%G 
Supplemental Data   
Net assets, end of period (000 omitted) $692 $558 
Portfolio turnover rateH 2%G 3%I 

 A For the period May 9, 2017 (commencement of operations) to October 31, 2017.

 B Calculated based on average shares outstanding during the period.

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

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

 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 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. 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 class.

 G Annualized

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

 I Amount not annualized.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity U.S. Sustainability Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. 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 offers Investor Class, Premium Class and 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.

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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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. 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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.

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.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain.

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of the 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 the 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.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $2,775,255 
Gross unrealized depreciation (1,835,712) 
Net unrealized appreciation (depreciation) $939,543 
Tax cost $42,159,832 

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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $25,709,765 and $310,127, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. 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. The management fee is based on an annual rate of .08% of the Fund's average net assets. Under the management contract, the investment adviser pays all other fund-level expenses, except the compensation of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

In addition, under the 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 .21% 
Premium Class .14% 
Institutional Class .11% 

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.

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. FIIOC receives transfer agent fees at an annual rate of .21%, .11% and .035% of class-level average net assets for Investor Class, Premium Class and Institutional Class, respectively. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. Under the expense contract, Investor Class, Premium Class and Institutional Class pay a portion of the transfer agent fees at an annual rate of .13%, .06% and .03%, of class-level average net assets, respectively.

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

 Amount 
Investor Class $3,535 
Premium Class 7,323 
Institutional Class 97 
 $10,955 

Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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 $7 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

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. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, 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 $31.

9. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $36.

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2018 
Year ended
October 31, 2017(a) 
From net investment income   
Investor Class $28,687 $– 
Premium Class 123,382 – 
Institutional Class 4,272 – 
Total $156,341 $– 
From net realized gain   
Investor Class $1,965 $– 
Premium Class 7,902 – 
Institutional Class 266 – 
Total $10,133 $– 

 (a) For the period May 9, 2017 (commencement of operations) to October 31, 2017.


11. Share Transactions.

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

 Shares Shares Dollars Dollars 
 Six months ended April 30, 2018 Year ended October 31, 2017(a) Six months ended April 30, 2018 Year ended October 31, 2017(a) 
Investor Class     
Shares sold 998,223 531,339 $11,306,377 $5,513,531 
Reinvestment of distributions 2,706 – 30,067 – 
Shares redeemed (681,278) (236,247) (7,778,964) (2,466,638) 
Net increase (decrease) 319,651 295,092 $3,557,480 $3,046,893 
Premium Class     
Shares sold 2,162,387 1,299,341 $24,558,936 $13,477,809 
Reinvestment of distributions 11,366 – 126,165 – 
Shares redeemed (235,523) (39,542) (2,663,824) (411,338) 
Net increase (decrease) 1,938,230 1,259,799 $22,021,277 $13,066,471 
Institutional Class     
Shares sold 20,260 51,819 $230,775 $526,336 
Reinvestment of distributions 311 – 3,452 – 
Shares redeemed (10,122) (581) (114,949) (6,000) 
Net increase (decrease) 10,449 51,238 $119,278 $520,336 

 (a) For the period May 9, 2017 (commencement of operations) to October 31, 2017.


12. 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.

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 (November 1, 2017 to April 30, 2018).

Actual Expenses

The first line of the accompanying table for each class of the 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, 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 for each class of the 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, 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.

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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Investor Class .21%    
Actual  $1,000.00 $1,037.50 $1.06 
Hypothetical-C  $1,000.00 $1,023.75 $1.05 
Premium Class .14%    
Actual  $1,000.00 $1,038.00 $.71 
Hypothetical-C  $1,000.00 $1,024.10 $.70 
Institutional Class .11%    
Actual  $1,000.00 $1,037.30 $.56 
Hypothetical-C  $1,000.00 $1,024.25 $.55 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

USY-SANN-0618
1.9883816.100


Fidelity® International Sustainability Index Fund
Investor Class, Premium Class and Institutional Class



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Internet Software & Services) 2.5 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 1.7 
Novartis AG (Switzerland, Pharmaceuticals) 1.5 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 1.4 
Total SA (France, Oil, Gas & Consumable Fuels) 1.4 
SAP SE (Germany, Software) 1.0 
Naspers Ltd. Class N (South Africa, Media) 1.0 
Allianz SE (Germany, Insurance) 1.0 
The Toronto-Dominion Bank (Canada, Banks) 0.9 
GlaxoSmithKline PLC (United Kingdom, Pharmaceuticals) 0.9 
 13.3 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 23.6 
Consumer Discretionary 11.4 
Information Technology 11.3 
Industrials 11.2 
Consumer Staples 8.3 
Health Care 8.1 
Materials 8.0 
Energy 5.9 
Telecommunication Services 4.7 
Utilities 3.0 

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 15.7% 
   United Kingdom 8.4% 
   Canada 7.0% 
   France 6.8% 
   Germany 6.7% 
   Switzerland 5.8% 
   Australia 5.7% 
   Netherlands 3.9% 
   Taiwan 3.6% 
   Other* 36.4% 


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


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

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 99.9 
Short-Term Investments and Net Other Assets (Liabilities) 0.1 

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.2%   
 Shares Value 
Australia - 5.7%   
AGL Energy Ltd. 2,079 $33,882 
Amcor Ltd. 3,668 37,799 
AMP Ltd. 9,253 28,010 
APA Group unit 3,725 23,319 
ASX Ltd. 611 26,861 
Aurizon Holdings Ltd. 6,428 21,632 
Australia & New Zealand Banking Group Ltd. 9,335 187,654 
Bendigo & Adelaide Bank Ltd. 1,509 12,010 
BlueScope Steel Ltd. 1,769 21,740 
Boral Ltd. 3,738 19,237 
Brambles Ltd. 5,012 37,085 
Caltex Australia Ltd. 826 19,208 
Coca-Cola Amatil Ltd. 1,737 12,124 
Cochlear Ltd. 182 26,486 
Commonwealth Bank of Australia 5,562 299,483 
Computershare Ltd. 1,458 18,548 
DEXUS Property Group unit 3,213 22,849 
Flight Centre Travel Group Ltd. 172 7,205 
Goodman Group unit 5,683 38,665 
Healthscope Ltd. 5,288 9,634 
Insurance Australia Group Ltd. 7,514 44,482 
Lendlease Group unit 1,752 23,497 
Macquarie Group Ltd. 1,024 83,393 
Mirvac Group unit 11,725 19,677 
National Australia Bank Ltd. 8,525 185,325 
Newcrest Mining Ltd. 2,434 38,579 
Ramsay Health Care Ltd. 447 21,731 
Scentre Group unit 16,877 51,011 
SEEK Ltd. 1,043 15,171 
South32 Ltd. 16,438 45,616 
SP AusNet 5,623 7,259 
Stockland Corp. Ltd. unit 7,704 23,947 
Sydney Airport unit 3,470 18,579 
Telstra Corp. Ltd. 13,168 31,309 
The GPT Group unit 5,781 20,963 
Transurban Group unit 7,035 61,301 
Wesfarmers Ltd. 3,590 118,110 
Westpac Banking Corp. 10,775 231,452 
Woodside Petroleum Ltd. 2,963 71,804 
TOTAL AUSTRALIA  2,016,637 
Austria - 0.1%   
OMV AG 466 28,981 
Bailiwick of Jersey - 0.4%   
Wolseley PLC 791 60,765 
WPP PLC 3,999 68,623 
TOTAL BAILIWICK OF JERSEY  129,388 
Belgium - 0.3%   
Colruyt NV 187 10,541 
KBC Groep NV 796 69,594 
Umicore SA 663 37,038 
TOTAL BELGIUM  117,173 
Bermuda - 0.2%   
Alibaba Pictures Group Ltd. (a) 40,000 4,506 
Beijing Enterprises Water Group Ltd. 18,000 10,450 
Brilliance China Automotive Holdings Ltd. 10,000 17,805 
GOME Electrical Appliances Holdings Ltd. 32,000 3,442 
Haier Electronics Group Co. Ltd. 4,000 13,839 
Li & Fung Ltd. 18,000 9,053 
Shangri-La Asia Ltd. 4,000 7,784 
Yue Yuen Industrial (Holdings) Ltd. 2,500 7,085 
TOTAL BERMUDA  73,964 
Brazil - 0.8%   
Atacadao Distribuicao Comercio e Industria Ltda 1,200 5,172 
BM&F BOVESPA SA 6,500 46,943 
BR Malls Participacoes SA 2,500 7,793 
Brasil Foods SA (a) 1,400 9,911 
Cielo SA 3,900 21,375 
Companhia Energetica de Minas Gerais (CEMIG) 13 29 
Cosan SA Industria e Comercio 500 5,678 
EDP Energias do Brasil SA 1,300 5,154 
Embraer SA 2,100 13,272 
ENGIE Brasil Energia SA 600 6,335 
Fibria Celulose SA 800 15,714 
Hypermarcas SA 1,100 9,891 
Itausa-Investimentos Itau SA 248 956 
Klabin SA unit 1,900 11,514 
Kroton Educacional SA 4,400 17,596 
Localiza Rent A Car SA 1,500 11,942 
Lojas Renner SA 2,200 20,479 
M. Dias Branco SA 300 3,768 
Multiplan Empreendimentos Imobiliarios SA 300 5,697 
Natura Cosmeticos SA 600 5,517 
Odontoprev SA 800 3,432 
Suzano Papel e Celulose SA 1,400 16,409 
TIM Participacoes SA 2,700 12,293 
Ultrapar Participacoes SA 1,200 20,707 
Weg SA 2,340 11,876 
TOTAL BRAZIL  289,453 
Canada - 7.0%   
Agnico Eagle Mines Ltd. (Canada) 735 30,930 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 1,366 59,057 
AltaGas Ltd. 572 11,026 
ARC Resources Ltd. 1,184 13,205 
ATCO Ltd. Class I (non-vtg.) 250 7,565 
Bank of Montreal 2,064 156,751 
Bank of Nova Scotia 3,810 234,188 
BlackBerry Ltd. (a) 1,590 16,644 
CAE, Inc. 830 15,689 
Canadian Imperial Bank of Commerce 1,387 120,805 
Canadian National Railway Co. 2,368 182,900 
Canadian Tire Ltd. Class A (non-vtg.) 196 26,711 
Canadian Utilities Ltd. Class A (non-vtg.) 407 10,366 
Cenovus Energy, Inc. 3,301 33,063 
CGI Group, Inc. Class A (sub. vtg.) (a) 805 46,647 
Empire Co. Ltd. Class A (non-vtg.) 543 10,501 
Enbridge, Inc. 5,242 158,777 
Encana Corp. 3,070 38,233 
Finning International, Inc. 535 13,496 
First Capital Realty, Inc. 502 7,847 
Fortis, Inc. 1,330 44,646 
Franco-Nevada Corp. 589 41,778 
Gildan Activewear, Inc. 693 20,186 
Hydro One Ltd. (b) 952 15,118 
Jean Coutu Group, Inc. Class A (sub. vtg.) 250 4,788 
Kinross Gold Corp. (a) 3,944 15,267 
Loblaw Companies Ltd. 671 34,126 
Magna International, Inc. Class A (sub. vtg.) 1,085 64,080 
Metro, Inc. Class A (sub. vtg.) 712 22,592 
National Bank of Canada 1,081 51,341 
Nutrien Ltd. 2,041 92,914 
Open Text Corp. 839 29,621 
Pembina Pipeline Corp. 1,587 50,541 
PrairieSky Royalty Ltd. 669 14,834 
Rogers Communications, Inc. Class B (non-vtg.) 1,143 53,956 
Shaw Communications, Inc. Class B 1,350 27,748 
Sun Life Financial, Inc. 1,947 80,370 
Suncor Energy, Inc. 5,241 200,423 
Teck Resources Ltd. Class B (sub. vtg.) 1,808 45,385 
TELUS Corp. 619 22,153 
The Toronto-Dominion Bank 5,871 329,731 
TOTAL CANADA  2,455,999 
Cayman Islands - 3.1%   
3SBio, Inc. (b) 3,000 6,446 
AAC Technology Holdings, Inc. 2,500 35,882 
Anta Sports Products Ltd. 3,000 17,119 
Chailease Holding Co. Ltd. 4,000 14,569 
China Conch Venture Holdings Ltd. 5,000 15,523 
China Medical System Holdings Ltd. 4,000 9,795 
Fullshare Holdings Ltd. 22,500 12,269 
GCL-Poly Energy Holdings Ltd. (a) 35,000 4,329 
Geely Automobile Holdings Ltd. 16,000 42,081 
Lee & Man Paper Manufacturing Ltd. 5,000 5,507 
Shenzhou International Group Holdings Ltd. 2,000 21,832 
Sino Biopharmaceutical Ltd. 14,000 29,481 
SOHO China Ltd. 6,500 3,338 
Tencent Holdings Ltd. 18,100 889,845 
TOTAL CAYMAN ISLANDS  1,108,016 
Chile - 0.3%   
Aguas Andinas SA 10,132 6,740 
Compania de Petroleos de Chile SA (COPEC) 1,232 20,086 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 543 6,409 
Empresas CMPC SA 3,947 16,203 
Enersis SA 88,307 20,156 
LATAM Airlines Group SA 954 14,634 
S.A.C.I. Falabella 2,225 21,580 
TOTAL CHILE  105,808 
China - 2.0%   
Air China Ltd. (H Shares) 6,000 7,910 
BYD Co. Ltd. (H Shares) 2,000 13,982 
China CITIC Bank Corp. Ltd. (H Shares) 28,000 20,016 
China Construction Bank Corp. (H Shares) 267,000 279,725 
China Everbright Bank Co. Ltd. (H Shares) 8,000 3,998 
China Longyuan Power Grid Corp. Ltd. (H Shares) 10,000 9,822 
China Merchants Bank Co. Ltd. (H Shares) 12,500 54,505 
China Minsheng Banking Corp. Ltd. (H Shares) 17,500 16,377 
China Molybdenum Co. Ltd. (H Shares) 12,000 9,018 
China Shenhua Energy Co. Ltd. (H Shares) 11,000 26,981 
China Southern Airlines Ltd. (H Shares) 6,000 6,461 
China Vanke Co. Ltd. (H Shares) 3,700 15,292 
CRRC Corp. Ltd. (H Shares) 13,000 11,490 
Dongfeng Motor Group Co. Ltd. (H Shares) 10,000 11,058 
Guangzhou Automobile Group Co. Ltd. (H Shares) 6,000 10,990 
Huaneng Renewables Corp. Ltd. (H Shares) 20,000 8,882 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 16,500 161,228 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 4,000 2,458 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 1,500 8,137 
Shanghai Pharma Holding Co. Ltd. (H Shares) 2,700 7,370 
Sinopharm Group Co. Ltd. (H Shares) 3,600 15,180 
Zhejiang Expressway Co. Ltd. (H Shares) 4,000 4,108 
TOTAL CHINA  704,988 
Colombia - 0.1%   
Cementos Argos SA 2,064 7,296 
Interconexion Electrica SA ESP 1,115 5,748 
Inversiones Argos SA 845 6,016 
TOTAL COLOMBIA  19,060 
Czech Republic - 0.1%   
Ceske Energeticke Zavody A/S 529 13,528 
Komercni Banka A/S 245 10,577 
Telefonica Czech Rep A/S 163 2,230 
TOTAL CZECH REPUBLIC  26,335 
Denmark - 1.6%   
Christian Hansen Holding A/S 313 28,471 
Coloplast A/S Series B 377 31,937 
DONG Energy A/S (b) 601 39,656 
Genmab A/S (a) 184 37,339 
ISS Holdings A/S 519 18,170 
Novo Nordisk A/S Series B 5,915 278,170 
Novozymes A/S Series B 718 33,755 
Pandora A/S 337 37,547 
Tryg A/S 395 9,379 
Vestas Wind Systems A/S 683 44,185 
TOTAL DENMARK  558,609 
Egypt - 0.0%   
Commercial International Bank SAE 1,588 8,477 
Commercial International Bank SAE sponsored GDR 1,718 8,813 
TOTAL EGYPT  17,290 
Finland - 0.5%   
Neste Oyj 408 34,440 
Nokian Tyres PLC 383 15,378 
Orion Oyj (B Shares) 317 9,639 
Stora Enso Oyj (R Shares) 1,745 34,633 
UPM-Kymmene Corp. 1,699 60,895 
Wartsila Corp. 1,406 29,968 
TOTAL FINLAND  184,953 
France - 6.8%   
Accor SA 596 33,734 
Aeroports de Paris 95 20,925 
Air Liquide SA 1,358 176,508 
AXA SA 6,157 176,082 
BIC SA 90 9,178 
Capgemini SA 510 70,210 
Carrefour SA 1,841 37,872 
Casino Guichard Perrachon SA 171 8,871 
CNP Assurances 547 14,030 
Compagnie de St. Gobain 1,581 83,041 
Danone SA 1,915 155,126 
Essilor International SA 659 89,966 
Eurazeo SA 137 12,044 
Gecina SA 156 27,052 
Imerys SA 113 10,316 
JCDecaux SA 238 8,513 
Kering SA 240 139,000 
L'Oreal SA 799 191,865 
Lagardere S.C.A. (Reg.) 411 11,753 
Michelin CGDE Series B 542 76,284 
Natixis SA 2,999 24,670 
Orange SA 6,325 114,986 
Renault SA 609 66,071 
Rexel SA 959 14,881 
Schneider Electric SA 1,795 163,180 
Suez Environnement SA 1,143 16,508 
Total SA 7,619 478,868 
Unibail-Rodamco 316 75,901 
Vivendi SA 3,281 86,731 
Wendel SA 86 13,002 
TOTAL FRANCE  2,407,168 
Germany - 6.5%   
adidas AG 596 146,753 
Allianz SE 1,415 334,681 
BASF AG 2,910 302,767 
Bayerische Motoren Werke AG (BMW) 1,039 116,022 
Beiersdorf AG 319 36,180 
Commerzbank AG (a) 3,368 43,560 
Deutsche Borse AG 612 82,307 
Deutsche Post AG 3,083 133,816 
E.ON AG 6,975 76,375 
Evonik Industries AG 527 18,761 
Fraport AG Frankfurt Airport Services Worldwide 132 12,816 
HeidelbergCement Finance AG 470 46,121 
Henkel AG & Co. KGaA 338 40,307 
Merck KGaA 409 40,115 
Metro Wholesale & Food Specialist AG 638 9,257 
Muenchener Rueckversicherungs AG 491 112,627 
OSRAM Licht AG 320 18,460 
ProSiebenSat.1 Media AG 735 26,664 
SAP SE 3,115 346,094 
Siemens AG 2,424 307,836 
Symrise AG 389 31,521 
TOTAL GERMANY  2,283,040 
Greece - 0.0%   
Hellenic Telecommunications Organization SA 772 11,234 
Titan Cement Co. SA (Reg.) 166 4,380 
TOTAL GREECE  15,614 
Hong Kong - 2.0%   
BOC Hong Kong (Holdings) Ltd. 11,500 59,450 
China Everbright International Ltd. 8,000 11,221 
China Everbright Ltd. 4,000 8,802 
China Mobile Ltd. 19,500 185,767 
CLP Holdings Ltd. 5,000 51,920 
CSPC Pharmaceutical Group Ltd. 14,000 35,659 
Hang Lung Properties Ltd. 6,000 14,199 
Hang Seng Bank Ltd. 2,400 60,792 
Henderson Land Development Co. Ltd. 4,100 25,996 
Hong Kong & China Gas Co. Ltd. 26,400 55,161 
Hong Kong Exchanges and Clearing Ltd. 3,715 120,346 
Hysan Development Co. Ltd. 2,000 11,640 
Lenovo Group Ltd. 22,000 10,445 
MTR Corp. Ltd. 5,008 28,139 
Shanghai Industrial Holdings Ltd. 1,000 2,622 
Swire Pacific Ltd. (A Shares) 1,500 14,822 
Swire Properties Ltd. 3,600 12,778 
TOTAL HONG KONG  709,759 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 1,188 13,728 
OTP Bank PLC 752 32,854 
TOTAL HUNGARY  46,582 
India - 2.8%   
ACC Ltd. 137 3,264 
Ashok Leyland Ltd. 3,665 9,031 
Asian Paints Ltd. 913 16,475 
Aurobindo Pharma Ltd. 821 7,914 
Axis Bank Ltd. 5,688 44,096 
Bharat Forge Ltd. 623 7,235 
Bharat Petroleum Corp. Ltd. 2,406 13,980 
Bharti Airtel Ltd. 4,436 27,241 
Bharti Infratel Ltd. 1,462 6,881 
Bosch Ltd. 23 6,701 
Dabur India Ltd. 1,655 9,177 
Dr. Reddy's Laboratories Ltd. 353 11,217 
Glenmark Pharmaceuticals Ltd. 430 3,693 
Godrej Consumer Products Ltd. 757 12,685 
Havells India Ltd. 723 5,930 
HCL Technologies Ltd. 1,762 27,856 
Hero Motocorp Ltd. 155 8,683 
Hindalco Industries Ltd. 3,681 12,951 
Hindustan Petroleum Corp. Ltd. 2,016 9,205 
Hindustan Unilever Ltd. 2,063 46,683 
Housing Development Finance Corp. Ltd. 4,812 136,146 
ICICI Bank Ltd. 7,522 32,147 
IDFC Bank Ltd. 4,330 3,137 
Infosys Ltd. 5,539 99,735 
Mahindra & Mahindra Financial Services Ltd. (a) 953 7,545 
Mahindra & Mahindra Ltd. 2,349 30,761 
Marico Ltd. 1,436 7,164 
Nestle India Ltd. 70 9,891 
Piramal Enterprises Ltd. (a) 251 9,789 
Reliance Industries Ltd. 9,042 130,552 
Shree Cement Ltd. 26 6,613 
Siemens India Ltd. 223 3,757 
Tata Consultancy Services Ltd. 1,456 77,216 
Tata Motors Ltd. (a) 4,549 23,102 
Tata Motors Ltd. Class A (a) 2,018 5,783 
Tata Steel Ltd. 1,132 10,070 
Tech Mahindra Ltd. 1,480 14,876 
Titan Co. Ltd. (a) 988 14,556 
UPL Ltd. 1,114 12,197 
Wipro Ltd. 3,591 14,966 
Yes Bank Ltd. 5,359 29,062 
TOTAL INDIA  969,963 
Indonesia - 0.8%   
PT Adaro Energy Tbk 48,100 6,299 
PT Astra International Tbk 63,500 32,501 
PT Bank Central Asia Tbk 31,200 49,336 
PT Bank Danamon Indonesia Tbk Series A 11,300 5,387 
PT Bank Mandiri (Persero) Tbk 58,900 29,836 
PT Bank Negara Indonesia (Persero) Tbk 23,500 13,529 
PT Bank Rakyat Indonesia Tbk 175,500 40,465 
PT Indofood CBP Sukses Makmur Tbk 7,100 4,411 
PT Indofood Sukses Makmur Tbk 13,300 6,650 
PT Jasa Marga Tbk 7,900 2,470 
PT Kalbe Farma Tbk 67,700 7,309 
PT Matahari Department Store Tbk 8,100 5,997 
PT Pakuwon Jati Tbk 71,900 3,039 
PT Perusahaan Gas Negara Tbk Series B 38,500 5,450 
PT Surya Citra Media Tbk 20,700 3,789 
PT Telekomunikasi Indonesia Tbk Series B 158,800 43,332 
PT Unilever Indonesia Tbk 4,700 15,621 
PT United Tractors Tbk 5,300 12,931 
PT XL Axiata Tbk (a) 12,800 1,940 
TOTAL INDONESIA  290,292 
Ireland - 0.5%   
CRH PLC 2,658 94,389 
DCC PLC (United Kingdom) 282 27,176 
Kerry Group PLC Class A 503 51,327 
TOTAL IRELAND  172,892 
Isle of Man - 0.0%   
NEPI Rockcastle PLC 1,144 12,608 
Israel - 0.2%   
Bank Hapoalim BM (Reg.) 3,380 23,160 
Bank Leumi le-Israel BM 4,590 27,165 
Mizrahi Tefahot Bank Ltd. 454 8,314 
TOTAL ISRAEL  58,639 
Italy - 0.9%   
Assicurazioni Generali SpA 3,987 80,598 
Intesa Sanpaolo SpA 42,545 161,839 
Intesa Sanpaolo SpA (Risparmio Shares) 3,207 12,726 
Snam Rete Gas SpA 7,245 34,865 
Terna SpA 4,490 26,986 
Unipolsai SpA 3,232 8,704 
TOTAL ITALY  325,718 
Japan - 15.7%   
AEON Co. Ltd. 1,900 38,019 
AEON Financial Service Co. Ltd. 300 7,042 
AEON MALL Co. Ltd. 400 8,116 
Aisin Seiki Co. Ltd. 600 32,602 
Ajinomoto Co., Inc. 1,700 31,195 
Alfresa Holdings Corp. 600 13,260 
All Nippon Airways Ltd. 400 15,880 
Amada Holdings Co. Ltd. 1,000 12,047 
Asahi Glass Co. Ltd. 600 24,918 
Asahi Kasei Corp. 4,000 55,159 
Asics Corp. 500 9,477 
Astellas Pharma, Inc. 6,600 96,533 
Benesse Holdings, Inc. 200 7,300 
Casio Computer Co. Ltd. 600 8,963 
Central Japan Railway Co. 500 100,485 
Chugai Pharmaceutical Co. Ltd. 700 37,011 
Dai Nippon Printing Co. Ltd. 800 17,256 
Daicel Chemical Industries Ltd. 900 10,423 
Daikin Industries Ltd. 800 93,707 
Dainippon Sumitomo Pharma Co. Ltd. 500 9,125 
Daiwa House Industry Co. Ltd. 1,800 66,026 
DENSO Corp. 1,500 78,979 
Dentsu, Inc. 700 33,169 
East Japan Railway Co. 1,000 95,957 
Eisai Co. Ltd. 800 53,750 
Fast Retailing Co. Ltd. 200 88,200 
Fujifilm Holdings Corp. 1,300 52,383 
Fujitsu Ltd. 6,000 36,548 
Hino Motors Ltd. 800 9,784 
Hitachi Chemical Co. Ltd. 300 6,603 
Hitachi Construction Machinery Co. Ltd. 300 10,936 
Hitachi High-Technologies Corp. 200 9,349 
Hitachi Metals Ltd. 700 8,042 
Honda Motor Co. Ltd. 5,500 189,123 
Hulic Co. Ltd. 900 9,690 
INPEX Corp. 3,000 38,488 
Kajima Corp. 3,000 28,952 
Kaneka Corp. 1,000 9,888 
Kansai Paint Co. Ltd. 600 13,524 
Kao Corp. 1,600 114,965 
Kawasaki Heavy Industries Ltd. 500 16,786 
KDDI Corp. 5,700 153,009 
Keio Corp. 400 18,332 
Keyence Corp. 300 183,782 
Kikkoman Corp. 500 21,702 
Kobe Steel Ltd. 1,000 10,355 
Komatsu Ltd. 2,900 98,857 
Konica Minolta, Inc. 1,500 12,898 
Kubota Corp. 3,300 55,830 
Kuraray Co. Ltd. 1,100 18,333 
Kurita Water Industries Ltd. 300 9,742 
Kyocera Corp. 1,000 64,014 
Kyowa Hakko Kirin Co., Ltd. 800 17,373 
Lawson, Inc. 200 13,227 
Marui Group Co. Ltd. 600 12,486 
Mazda Motor Corp. 1,800 25,052 
McDonald's Holdings Co. (Japan) Ltd. 200 9,367 
Mitsubishi Corp. 4,800 132,909 
Mitsubishi Electric Corp. 6,100 93,771 
Mitsubishi Estate Co. Ltd. 4,000 73,090 
Mitsubishi Materials Corp. 400 12,221 
Mitsubishi UFJ Lease & Finance Co. Ltd. 1,400 8,926 
Mitsui Chemicals, Inc. 600 17,234 
Mitsui Fudosan Co. Ltd. 2,800 72,011 
Mitsui OSK Lines Ltd. 400 11,873 
Mizuho Financial Group, Inc. 76,500 138,407 
Murata Manufacturing Co. Ltd. 600 75,748 
Nabtesco Corp. 400 14,471 
NEC Corp. 800 21,990 
NGK Insulators Ltd. 800 14,724 
NGK Spark Plug Co. Ltd. 500 12,898 
Nikon Corp. 1,100 19,199 
Nippon Express Co. Ltd. 200 15,130 
Nippon Prologis REIT, Inc. 12,640 
Nippon Yusen KK 500 10,675 
Nissan Motor Co. Ltd. 7,300 76,893 
Nissin Food Holdings Co. Ltd. 200 14,727 
Nitto Denko Corp. 500 37,276 
NKSJ Holdings, Inc. 1,100 46,186 
Nomura Real Estate Holdings, Inc. 400 9,945 
Nomura Research Institute Ltd. 400 20,673 
NSK Ltd. 1,200 16,136 
NTT DOCOMO, Inc. 4,300 111,086 
Obayashi Corp. 2,000 23,088 
OMRON Corp. 600 32,602 
Oriental Land Co. Ltd. 700 69,891 
Osaka Gas Co. Ltd. 1,200 25,840 
Panasonic Corp. 7,000 103,650 
Resona Holdings, Inc. 7,000 39,866 
Rinnai Corp. 100 9,962 
Santen Pharmaceutical Co. Ltd. 1,200 20,252 
Secom Co. Ltd. 700 52,519 
Sekisui Chemical Co. Ltd. 1,300 23,070 
Sekisui House Ltd. 1,800 33,005 
Seven & i Holdings Co. Ltd. 2,400 105,746 
Shimadzu Corp. 800 21,778 
SHIMIZU Corp. 1,700 16,857 
Shin-Etsu Chemical Co. Ltd. 1,200 120,801 
Shionogi & Co. Ltd. 900 46,383 
Shiseido Co. Ltd. 1,200 78,068 
Showa Shell Sekiyu K.K. 600 8,491 
Sony Corp. 4,000 186,824 
Stanley Electric Co. Ltd. 400 14,508 
Subaru Corp. 1,900 63,942 
Sumitomo Chemical Co. Ltd. 5,000 28,769 
Sumitomo Corp. 3,800 68,460 
Sumitomo Electric Industries Ltd. 2,400 36,872 
Sumitomo Heavy Industries Ltd. 400 15,331 
Sumitomo Metal Mining Co. Ltd. 800 34,380 
Sumitomo Mitsui Trust Holdings, Inc. 1,100 46,749 
Sumitomo Rubber Industries Ltd. 600 10,741 
Suntory Beverage & Food Ltd. 400 19,722 
Suzuken Co. Ltd. 200 8,617 
Sysmex Corp. 500 44,274 
T&D Holdings, Inc. 1,700 28,909 
Takashimaya Co. Ltd. 1,000 8,599 
Takeda Pharmaceutical Co. Ltd. 2,300 96,853 
TDK Corp. 400 34,577 
Teijin Ltd. 600 11,312 
Toho Co. Ltd. 400 13,392 
Toho Gas Co. Ltd. 200 6,074 
Tokyo Electron Ltd. 500 96,300 
Tokyo Gas Co. Ltd. 1,200 32,184 
Tokyu Corp. 1,700 28,629 
Tokyu Fudosan Holdings Corp. 1,600 12,616 
Toppan Printing Co. Ltd. 2,000 16,758 
Toray Industries, Inc. 4,700 43,873 
Toto Ltd. 400 22,722 
Toyo Suisan Kaisha Ltd. 300 11,828 
Toyoda Gosei Co. Ltd. 200 5,075 
Toyota Tsusho Corp. 700 25,197 
USS Co. Ltd. 700 14,734 
West Japan Railway Co. 500 35,446 
Yakult Honsha Co. Ltd. 400 28,540 
Yamada Denki Co. Ltd. 1,900 9,976 
Yamaha Corp. 500 24,195 
Yamaha Motor Co. Ltd. 900 28,814 
Yaskawa Electric Corp. 800 32,711 
Yokogawa Electric Corp. 700 15,457 
TOTAL JAPAN  5,510,687 
Korea (South) - 3.3%   
AMOREPACIFIC Corp. 105 34,218 
AMOREPACIFIC Group, Inc. 94 12,552 
BS Financial Group, Inc. 858 8,372 
Cheil Industries, Inc. 239 31,244 
Cheil Worldwide, Inc. 213 3,799 
CJ CheilJedang Corp. 26 8,327 
CJ Corp. 45 6,828 
Coway Co. Ltd. 170 13,890 
Daelim Industrial Co. 89 7,147 
Daewoo Engineering & Construction Co. Ltd. (a) 505 2,994 
DGB Financial Group Co. Ltd. 503 5,636 
Doosan Heavy Industries & Construction Co. Ltd. 181 3,025 
GS Engineering & Construction Corp. 149 5,677 
GS Holdings Corp. 162 9,273 
Hana Financial Group, Inc. 937 41,779 
Hankook Tire Co. Ltd. 234 10,805 
Hanmi Pharm Co. Ltd. 19 8,268 
Hanon Systems 549 5,588 
Hanssem Co. Ltd. 41 4,460 
Hanwha Chemical Corp. 337 9,110 
Hotel Shilla Co. 98 10,615 
Hyosung Corp. 65 7,981 
Hyundai Engineering & Construction Co. Ltd. 244 14,491 
Hyundai Fire & Marine Insurance Co. Ltd. 197 7,036 
Hyundai Heavy Industries Co. Ltd. (a) 114 12,721 
Hyundai Industrial Development & Construction Co. (c) 152 6,586 
Hyundai Mobis 216 50,020 
Hyundai Wia Corp. 59 2,958 
Industrial Bank of Korea 799 12,572 
KB Financial Group, Inc. 1,259 71,338 
Korea Gas Corp. (a) 90 4,605 
Korean Air Lines Co. Ltd. 135 4,305 
Kumho Petro Chemical Co. Ltd. 57 5,722 
LG Chemical Ltd. 142 47,734 
LG Corp. 301 22,794 
LG Display Co. Ltd. 714 15,548 
LG Electronics, Inc. 337 32,097 
LG Household & Health Care Ltd. 29 37,099 
LG Innotek Co. Ltd. 51 5,548 
Lotte Chemical Corp. 49 18,943 
Lotte Confectionery Co. Ltd. 99 6,018 
Lotte Shopping Co. Ltd. 35 8,367 
NAVER Corp. 89 59,504 
Oci Co. Ltd. 54 7,866 
S-Oil Corp. 143 14,688 
Samsung Card Co. Ltd. 149 5,190 
Samsung Electro-Mechanics Co. Ltd. 176 19,475 
Samsung Fire & Marine Insurance Co. Ltd. 98 24,479 
Samsung Heavy Industries Co. Ltd. (a) 1,269 8,709 
Samsung Life Insurance Co. Ltd. 226 24,691 
Samsung SDI Co. Ltd. 174 29,814 
Samsung SDS Co. Ltd. 110 25,165 
Shinhan Financial Group Co. Ltd. 1,352 60,038 
SK C&C Co. Ltd. 100 27,453 
SK Energy Co. Ltd. 205 37,615 
SK Hynix, Inc. 1,842 145,341 
SK Networks Co. Ltd. 317 1,664 
SK Telecom Co. Ltd. 64 13,638 
Woori Bank 1,467 21,986 
Yuhan Corp. 30 6,415 
TOTAL KOREA (SOUTH)  1,171,821 
Luxembourg - 0.1%   
SES SA (France) (depositary receipt) 1,151 17,791 
Tenaris SA 1,497 28,056 
TOTAL LUXEMBOURG  45,847 
Malaysia - 0.9%   
AMMB Holdings Bhd 5,100 5,040 
Astro Malaysia Holdings Bhd (b) 5,100 2,471 
Axiata Group Bhd 8,754 11,752 
Bumiputra-Commerce Holdings Bhd 14,708 26,818 
Dialog Group Bhd 10,000 7,818 
DiGi.com Bhd 9,600 11,274 
Hap Seng Consolidated Bhd 2,100 5,228 
Hartalega Holdings Bhd 4,400 6,552 
IHH Healthcare Bhd (b) 6,400 9,893 
IOI Properties Group Bhd 4,300 1,708 
Kuala Lumpur Kepong Bhd 1,500 9,726 
Malayan Banking Bhd 13,588 37,270 
Malaysia Airports Holdings Bhd 2,700 6,189 
Maxis Bhd 6,300 9,335 
MISC Bhd 4,200 7,630 
Petronas Dagangan Bhd 800 5,494 
PPB Group Bhd 1,500 7,343 
Press Metal Bhd 4,200 5,127 
Public Bank Bhd 9,200 55,697 
RHB Capital Bhd 3,100 4,170 
SapuraKencana Petroleum Bhd 13,000 2,094 
Sime Darby Property Bhd 6,200 2,350 
SP Setia Bhd 4,060 3,289 
Telekom Malaysia Bhd 4,200 5,652 
Tenaga Nasional Bhd 10,800 43,510 
UMW Holdings Bhd (a) 1,900 2,951 
YTL Corp. Bhd 13,480 4,957 
TOTAL MALAYSIA  301,338 
Mexico - 0.5%   
Alfa SA de CV Series A 9,900 12,710 
CEMEX S.A.B. de CV unit 45,600 28,527 
Coca-Cola FEMSA S.A.B. de CV Series L 1,700 11,038 
Compartamos S.A.B. de CV 3,100 2,478 
El Puerto de Liverpool S.A.B. de CV Class C 500 3,336 
Embotelladoras Arca S.A.B. de CV 1,400 9,676 
Fomento Economico Mexicano S.A.B. de CV unit 6,100 58,965 
Gruma S.A.B. de CV Series B 655 8,000 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 705 12,678 
Grupo Bimbo S.A.B. de CV Series A 5,200 12,103 
Industrias Penoles SA de CV 435 9,130 
Infraestructura Energetica Nova S.A.B. de CV 1,700 7,484 
Kimberly-Clark de Mexico SA de CV Series A 4,700 8,529 
TOTAL MEXICO  184,654 
Netherlands - 3.9%   
AEGON NV 5,634 41,448 
Akzo Nobel NV 799 72,269 
Akzo Nobel NV rights (a) 799 1,872 
ASML Holding NV (Netherlands) 1,222 232,421 
CNH Industrial NV 3,235 40,003 
EXOR NV 343 25,490 
ING Groep NV (Certificaten Van Aandelen) 12,327 207,716 
Koninklijke Ahold Delhaize NV 4,055 97,961 
Koninklijke DSM NV 573 59,384 
Koninklijke KPN NV 10,592 32,965 
Koninklijke Philips Electronics NV 2,980 126,132 
NN Group NV 975 46,731 
QIAGEN NV (Germany) (a) 700 23,069 
RELX NV 3,056 65,007 
Unilever NV (Certificaten Van Aandelen) (Bearer) 5,165 296,102 
Vopak NV 222 10,965 
TOTAL NETHERLANDS  1,379,535 
New Zealand - 0.1%   
Auckland International Airport Ltd. 3,217 14,441 
Fletcher Building Ltd. 2,903 12,889 
Mercury Nz Ltd. 2,052 4,606 
Meridian Energy Ltd. 3,921 8,111 
Ryman Healthcare Group Ltd. 1,248 9,308 
TOTAL NEW ZEALAND  49,355 
Norway - 0.8%   
DNB ASA 3,111 58,180 
Marine Harvest ASA 1,313 28,585 
Norsk Hydro ASA 4,262 26,620 
Orkla ASA 2,593 24,028 
Statoil ASA 3,668 93,801 
Telenor ASA 2,380 52,679 
TOTAL NORWAY  283,893 
Philippines - 0.3%   
Aboitiz Equity Ventures, Inc. 6,200 8,343 
Aboitiz Power Corp. 6,600 4,845 
Ayala Land, Inc. 23,000 18,101 
Bank of the Philippine Islands (BPI) 3,162 6,410 
BDO Unibank, Inc. 6,150 15,623 
JG Summit Holdings, Inc. 9,270 11,437 
Jollibee Food Corp. 1,310 7,210 
Metro Pacific Investments Corp. 45,300 4,462 
Metropolitan Bank & Trust Co. 2,452 4,022 
SM Investments Corp. 780 14,126 
SM Prime Holdings, Inc. 27,000 17,820 
TOTAL PHILIPPINES  112,399 
Poland - 0.4%   
Bank Handlowy w Warszawie SA 127 3,003 
Bank Millennium SA (a) 1,990 4,848 
Bank Polska Kasa Opieki SA 496 16,520 
Bank Zachodni WBK SA 112 11,851 
BRE Bank SA 46 5,628 
CD Projekt RED SA 211 7,503 
Grupa Lotos SA 287 4,524 
KGHM Polska Miedz SA (Bearer) 448 11,952 
Polish Oil & Gas Co. SA 5,446 9,589 
Polski Koncern Naftowy Orlen SA 957 24,458 
Powszechny Zaklad Ubezpieczen SA 1,909 23,344 
TOTAL POLAND  123,220 
Portugal - 0.2%   
Energias de Portugal SA 7,524 27,948 
Galp Energia SGPS SA Class B 1,586 30,481 
Jeronimo Martins SGPS SA 793 13,924 
TOTAL PORTUGAL  72,353 
Qatar - 0.1%   
Qatar Gas Transport Co. Ltd. (Nakilat) 825 3,329 
Qatar Islamic Bank 175 5,143 
Qatar Telecom (Qtel) Q.S.C. (a) 274 5,960 
The Commercial Bank of Qatar 674 6,692 
TOTAL QATAR  21,124 
Russia - 0.5%   
Alrosa Co. Ltd. 8,000 11,384 
Inter Rao Ues JSC 102,000 6,479 
Lukoil PJSC 1,346 88,920 
NOVATEK OAO GDR (Reg. S) 287 36,449 
Novolipetsk Steel OJSC 3,730 9,546 
PhosAgro OJSC GDR (Reg. S) 397 5,725 
RusHydro PJSC 323,000 3,821 
TOTAL RUSSIA  162,324 
Singapore - 1.0%   
Ascendas Real Estate Investment Trust 7,700 15,447 
CapitaCommercial Trust (REIT) 7,881 10,767 
CapitaLand Ltd. 7,900 22,277 
CapitaMall Trust 7,800 12,318 
City Developments Ltd. 1,300 12,354 
DBS Group Holdings Ltd. 5,700 131,511 
Jardine Cycle & Carriage Ltd. 400 10,292 
Keppel Corp. Ltd. 4,600 28,213 
Singapore Airlines Ltd. 1,700 13,871 
Singapore Press Holdings Ltd. 4,900 10,013 
Singapore Telecommunications Ltd. 25,700 67,979 
StarHub Ltd. 1,900 3,241 
UOL Group Ltd. 1,500 9,907 
TOTAL SINGAPORE  348,190 
South Africa - 2.9%   
Anglo American Platinum Ltd. 171 4,589 
Aspen Pharmacare Holdings Ltd. 1,228 26,478 
Barclays Africa Group Ltd. 2,284 33,454 
Bidvest Group Ltd. 1,059 20,745 
Coronation Fund Managers Ltd. 742 4,406 
Exxaro Resources Ltd. 786 6,972 
FirstRand Ltd. 10,659 57,085 
Fortress (REIT) Ltd.:   
Class A 3,387 4,661 
Class B 2,540 3,540 
Foschini Ltd. 720 12,388 
Growthpoint Properties Ltd. 9,348 21,627 
Hyprop Investments Ltd. 714 6,519 
Imperial Holdings Ltd. 470 9,041 
Investec Ltd. 944 7,447 
Kumba Iron Ore Ltd. 211 4,507 
Liberty Holdings Ltd. 468 4,931 
Mondi Ltd. 371 10,824 
Mr Price Group Ltd. 743 16,304 
MTN Group Ltd. 5,363 53,827 
Naspers Ltd. Class N 1,391 338,875 
Nedbank Group Ltd. 706 16,837 
Netcare Ltd. 3,726 9,278 
Pick 'n Pay Stores Ltd. 1,280 8,286 
Pioneer Foods Ltd. 418 4,065 
Redefine Properties Ltd. 15,953 15,331 
Remgro Ltd. 1,664 29,958 
Resilient Property Income Fund Ltd. 1,010 5,495 
RMB Holdings Ltd. 2,255 14,144 
Sanlam Ltd. 4,465 28,205 
Sappi Ltd. 1,839 11,736 
Sasol Ltd. 1,757 62,808 
Shoprite Holdings Ltd. 1,400 27,854 
Spar Group Ltd. 602 10,120 
Standard Bank Group Ltd. 4,103 70,369 
Tiger Brands Ltd. 513 16,033 
Vodacom Group Ltd. 1,902 23,779 
Woolworths Holdings Ltd. 3,105 15,957 
TOTAL SOUTH AFRICA  1,018,475 
Spain - 2.3%   
Amadeus IT Holding SA Class A 1,395 102,255 
Banco Bilbao Vizcaya Argentaria SA 21,116 170,872 
Banco de Sabadell SA 16,974 33,340 
Bankinter SA 2,153 22,568 
CaixaBank SA 11,378 55,330 
Enagas SA 704 20,523 
Ferrovial SA 1,547 33,132 
Gas Natural SDG SA 1,118 28,231 
Iberdrola SA 18,451 142,958 
Inditex SA 3,436 106,969 
Red Electrica Corporacion SA 1,378 28,704 
Repsol SA 3,972 76,026 
TOTAL SPAIN  820,908 
Sweden - 2.5%   
ASSA ABLOY AB (B Shares) 3,172 66,724 
Atlas Copco AB:   
(A Shares) 2,212 86,922 
(B Shares) 1,139 40,622 
Boliden AB 873 30,387 
Essity AB Class B 1,927 49,074 
H&M Hennes & Mauritz AB (B Shares) 2,992 51,416 
Husqvarna AB (B Shares) 1,331 12,835 
ICA Gruppen AB 253 7,873 
Industrivarden AB (C Shares) 553 11,693 
Kinnevik AB (B Shares) 742 26,870 
Lundbergfoeretagen AB 122 8,290 
Nordea Bank AB 9,653 98,529 
Sandvik AB 3,566 61,085 
Skandinaviska Enskilda Banken AB (A Shares) 4,845 45,647 
Skanska AB (B Shares) 1,078 21,088 
SKF AB (B Shares) 1,196 24,318 
Svenska Handelsbanken AB (A Shares) 4,861 54,211 
Swedbank AB (A Shares) 2,884 62,889 
Telefonaktiebolaget LM Ericsson (B Shares) 9,730 74,176 
TeliaSonera AB 8,901 43,892 
TOTAL SWEDEN  878,541 
Switzerland - 5.8%   
ABB Ltd. (Reg.) 5,827 135,860 
Adecco SA (Reg.) 515 34,268 
Coca-Cola HBC AG 586 19,717 
Compagnie Financiere Richemont SA Series A 1,650 156,847 
Givaudan SA 29 64,935 
Kuehne & Nagel International AG 174 27,215 
Lafargeholcim Ltd. (Reg.) 1,440 80,442 
Lindt & Spruengli AG (participation certificate) 38,628 
Lonza Group AG 236 58,155 
Novartis AG 7,058 543,285 
Roche Holding AG (participation certificate) 2,229 495,256 
SGS SA (Reg.) 17 41,462 
Sika AG 51,070 
Swiss Re Ltd. 998 95,329 
Swisscom AG 82 39,469 
Zurich Insurance Group AG 480 153,329 
TOTAL SWITZERLAND  2,035,267 
Taiwan - 3.6%   
Acer, Inc. 9,000 6,852 
Advantech Co. Ltd. 1,000 6,853 
ASE Industrial Holding Co. Ltd. 10,000 26,930 
Asia Pacific Telecom Co. Ltd. (a) 13,000 3,848 
ASUSTeK Computer, Inc. 2,000 18,658 
AU Optronics Corp. 26,000 10,702 
Chang Hwa Commercial Bank 13,100 7,528 
Chicony Electronics Co. Ltd. 1,000 2,459 
China Airlines Ltd. (a) 8,000 2,913 
China Steel Corp. 39,000 30,806 
Chinatrust Financial Holding Co. Ltd. 54,000 38,443 
Chunghwa Telecom Co. Ltd. 12,000 45,580 
Compal Electronics, Inc. 12,000 7,802 
Delta Electronics, Inc. 6,000 21,715 
E.SUN Financial Holdings Co. Ltd. 26,518 18,719 
ECLAT Textile Co. Ltd. 1,000 12,043 
EVA Airways Corp. 5,000 2,680 
Evergreen Marine Corp. (Taiwan) (a) 5,341 2,697 
Far Eastern Textile Ltd. 9,000 8,575 
Far EasTone Telecommunications Co. Ltd. 5,000 13,205 
Feng Tay Enterprise Co. Ltd. 1,000 4,527 
Formosa Taffeta Co. Ltd. 1,000 1,129 
Fubon Financial Holding Co. Ltd. 21,000 35,864 
HIWIN Technologies Corp. 1,000 15,037 
Hotai Motor Co. Ltd. 1,000 9,784 
Innolux Corp. 27,000 10,030 
Inventec Corp. 8,000 6,050 
Lite-On Technology Corp. 6,000 7,904 
MediaTek, Inc. 5,000 56,767 
Micro-Star International Co. Ltd. 2,000 6,235 
Nan Ya Plastics Corp. 15,000 41,012 
President Chain Store Corp. 2,000 19,624 
Quanta Computer, Inc. 9,000 16,334 
Ruentex Development Co. Ltd. 4,000 4,781 
Shin Kong Financial Holding Co. Ltd. 25,000 10,143 
Standard Foods Corp. 2,040 4,567 
Taishin Financial Holdings Co. Ltd. 28,343 13,748 
Taiwan Business Bank 6,180 1,896 
Taiwan Cooperative Financial Holding Co. Ltd. 26,180 15,185 
Taiwan Mobile Co. Ltd. 5,000 18,432 
Taiwan Semiconductor Manufacturing Co. Ltd. 78,000 593,100 
TECO Electric & Machinery Co. Ltd. 6,000 4,861 
Unified-President Enterprises Corp. 15,000 36,036 
United Microelectronics Corp. 37,000 19,918 
Vanguard International Semiconductor Corp. 3,000 6,070 
Wistron Corp. 8,029 6,373 
TOTAL TAIWAN  1,254,415 
Thailand - 0.9%   
Advanced Info Service PCL 200 1,316 
Advanced Info Service PCL (For. Reg.) 3,100 20,405 
Airports of Thailand PCL 1,100 2,474 
Airports of Thailand PCL (For. Reg.) 12,400 27,892 
Bangkok Dusit Medical Services PCL (For. Reg.) 12,000 8,546 
Banpu PCL 1,600 977 
Banpu PCL (For. Reg.) 4,800 2,930 
Berli Jucker PCL (For. Reg) 3,600 6,794 
BTS Group Holdings PCL 12,000 3,382 
BTS Group Holdings PCL 6,300 1,775 
Bumrungrad Hospital PCL (For. Reg.) 1,100 6,602 
C.P. ALL PCL 1,100 3,026 
C.P. ALL PCL (For. Reg.) 14,500 39,882 
Central Pattana PCL 600 1,531 
Central Pattana PCL (For. Reg.) 3,600 9,184 
Delta Electronics PCL 1,200 2,553 
Delta Electronics PCL (For. Reg.) 400 851 
Electricity Generating PCL (For. Reg.) 300 2,115 
Energy Absolute PCL 3,300 3,730 
Glow Energy PCL (For. Reg.) 2,700 7,352 
Home Product Center PCL 2,100 993 
Home Product Center PCL (For. Reg.) 10,100 4,777 
IRPC PCL (For. Reg.) 30,700 6,830 
Kasikornbank PCL (For. Reg.) 6,000 38,028 
KCE Electronics PCL 800 1,731 
Krung Thai Bank PCL (For. Reg.) 12,600 7,236 
Minor International PCL 800 1,016 
Minor International PCL (For. Reg.) 6,500 8,255 
PTT Global Chemical PCL 800 2,472 
PTT Global Chemical PCL (For. Reg.) 6,300 19,465 
Robinsons Department Store PCL 500 1,039 
Robinsons Department Store PCL (For. Reg.) 900 1,871 
Siam Cement PCL (For. Reg.) 1,300 19,223 
Siam Commercial Bank PCL 500 2,070 
Siam Commercial Bank PCL (For. Reg.) 5,300 21,946 
Thai Oil PCL 400 1,190 
Thai Oil PCL (For. Reg.) 3,100 9,226 
TMB PCL 13,100 976 
TMB PCL (For. Reg.) 26,700 1,988 
TOTAL THAILAND  303,649 
Turkey - 0.1%   
Anadolu Efes Biracilik Ve Malt Sanayii A/S 664 4,355 
Arcelik A/S 752 3,347 
Coca-Cola Icecek Sanayi A/S 198 1,752 
Koc Holding A/S 2,624 8,863 
Tupras Turkiye Petrol Rafinerileri A/S 374 9,529 
Ulker Biskuvi Sanayi A/S 486 2,548 
TOTAL TURKEY  30,394 
United Arab Emirates - 0.1%   
Abu Dhabi Commercial Bank PJSC 6,703 12,829 
DP World Ltd. 517 11,503 
Dubai Islamic Bank Pakistan Ltd. 3,984 5,965 
National Bank of Abu Dhabi PJSC 4,479 15,120 
TOTAL UNITED ARAB EMIRATES  45,417 
United Kingdom - 8.4%   
3i Group PLC 3,081 39,939 
Associated British Foods PLC 1,129 42,028 
Aviva PLC 12,746 92,608 
Barratt Developments PLC 3,192 24,521 
Berkeley Group Holdings PLC 412 23,096 
British Land Co. PLC 3,033 28,076 
BT Group PLC 26,703 91,654 
Burberry Group PLC 1,347 33,815 
Capita Group PLC 2,092 5,517 
Coca-Cola European Partners PLC 683 26,774 
Croda International PLC 416 25,548 
easyJet PLC 509 11,142 
GlaxoSmithKline PLC 15,596 312,812 
Hammerson PLC 2,508 18,956 
InterContinental Hotel Group PLC 572 36,137 
Intertek Group PLC 511 34,478 
Investec PLC 2,129 16,924 
ITV PLC 11,447 23,899 
J Sainsbury PLC 5,127 21,810 
Johnson Matthey PLC 612 27,753 
Kingfisher PLC 6,760 28,192 
Land Securities Group PLC 2,358 32,086 
Legal & General Group PLC 18,957 70,465 
London Stock Exchange Group PLC 989 58,547 
Marks & Spencer Group PLC 5,098 20,158 
Mediclinic International PLC 1,160 10,716 
Meggitt PLC 2,471 16,070 
Merlin Entertainments PLC (b) 2,251 11,398 
Mondi PLC 1,164 32,466 
National Grid PLC 10,743 124,649 
Next PLC 461 33,358 
Old Mutual PLC 15,648 54,201 
Pearson PLC 2,547 29,200 
Prudential PLC 8,206 211,010 
Reckitt Benckiser Group PLC 2,121 166,388 
RELX PLC 3,366 72,035 
RSA Insurance Group PLC 3,269 29,586 
Schroders PLC 407 18,496 
Scottish & Southern Energy PLC 3,221 61,130 
Segro PLC 3,183 28,317 
SKY PLC 3,272 62,073 
Standard Chartered PLC (United Kingdom) 10,459 110,440 
Standard Life PLC 8,485 42,672 
Taylor Wimpey PLC 10,324 27,254 
Tesco PLC 30,812 99,798 
Travis Perkins PLC 790 13,802 
Unilever PLC 3,908 219,208 
United Utilities Group PLC 2,150 21,998 
Vodafone Group PLC 84,594 246,864 
Whitbread PLC 580 34,183 
WM Morrison Supermarkets PLC 7,025 23,511 
TOTAL UNITED KINGDOM  2,947,758 
TOTAL COMMON STOCKS   
(Cost $33,570,807)  34,230,493 
Nonconvertible Preferred Stocks - 1.3%   
Brazil - 1.0%   
Banco Bradesco SA (PN) 10,570 104,306 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 500 11,237 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 2,930 7,076 
Itau Unibanco Holding SA 10,200 148,522 
Itausa-Investimentos Itau SA (PN) 12,700 49,340 
Telefonica Brasil SA 1,400 19,638 
TOTAL BRAZIL  340,119 
Chile - 0.1%   
Embotelladora Andina SA Class B 794 3,948 
Sociedad Quimica y Minera de Chile SA (PN-B) 302 16,495 
TOTAL CHILE  20,443 
Germany - 0.2%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 183 17,723 
Henkel AG & Co. KGaA 557 70,896 
TOTAL GERMANY  88,619 
Korea (South) - 0.0%   
AMOREPACIFIC Corp. 21 3,500 
LG Chemical Ltd. 32 6,155 
LG Household & Health Care Ltd. 5,752 
TOTAL KOREA (SOUTH)  15,407 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $444,884)  464,588 
Money Market Funds - 2.6%   
Fidelity Cash Central Fund, 1.74% (d)   
(Cost $904,523) 904,342 904,523 
TOTAL INVESTMENT IN SECURITIES - 101.1%   
(Cost $34,920,214)  35,599,604 
NET OTHER ASSETS (LIABILITIES) - (1.1)%  (404,472) 
NET ASSETS - 100%  $35,195,132 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) June 2018 $303,975 $6,197 $6,197 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) June 2018 172,830 (346) (346) 
TOTAL FUTURES CONTRACTS     $5,851 

The notional amount of futures purchased as a percentage of Net Assets is 1.4%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $1,078,370.

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

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $84,982 or 0.2% of net assets.

 (c) Level 3 security

 (d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.


Affiliated Central Funds

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 $9,453 
Total $9,453 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $3,990,383 $2,331,861 $1,658,522 $-- 
Consumer Staples 3,090,293 1,612,053 1,478,240 -- 
Energy 2,040,881 1,013,015 1,027,866 -- 
Financials 8,335,222 3,246,481 5,088,741 -- 
Health Care 2,816,984 556,358 2,260,626 -- 
Industrials 3,935,470 2,757,832 1,171,052 6,586 
Information Technology 3,987,736 1,446,585 2,541,151 -- 
Materials 2,750,714 1,621,167 1,129,547 -- 
Real Estate 1,021,456 422,769 598,687 -- 
Telecommunication Services 1,620,210 217,234 1,402,976 -- 
Utilities 1,105,732 670,599 435,133 -- 
Money Market Funds 904,523 904,523 -- -- 
Total Investments in Securities: $35,599,604 $16,800,477 $18,792,541 $6,586 
Derivative Instruments:     
Assets     
Futures Contracts $6,197 $6,197 $-- $-- 
Total Assets $6,197 $6,197 $-- $-- 
Liabilities     
Futures Contracts $(346) $(346) $-- $-- 
Total Liabilities $(346) $(346) $-- $-- 
Total Derivative Instruments: $5,851 $5,851 $-- $-- 

The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2018. 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 $3,912,650 
Level 2 to Level 1 $2,291,365 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. 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) $6,197 $(346) 
Total Equity Risk 6,197 (346) 
Total Value of Derivatives $6,197 $(346) 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $34,015,691) 
$34,695,081  
Fidelity Central Funds (cost $904,523) 904,523  
Total Investment in Securities (cost $34,920,214)  $35,599,604 
Segregated cash with brokers for derivative instruments  102,300 
Cash  1,346 
Foreign currency held at value (cost $257,486)  257,549 
Receivable for investments sold  8,637 
Receivable for fund shares sold  68,980 
Dividends receivable  106,551 
Distributions receivable from Fidelity Central Funds  1,926 
Total assets  36,146,893 
Liabilities   
Payable for investments purchased $853,367  
Payable for fund shares redeemed 69,922  
Accrued management fee 4,664  
Payable for daily variation margin on futures contracts 2,670  
Other affiliated payables 2,327  
Other payables and accrued expenses 18,811  
Total liabilities  951,761 
Net Assets  $35,195,132 
Net Assets consist of:   
Paid in capital  $34,261,264 
Undistributed net investment income  280,841 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (18,605) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  671,632 
Net Assets  $35,195,132 
Investor Class:   
Net Asset Value, offering price and redemption price per share ($5,327,989 ÷ 479,788 shares)  $11.10 
Premium Class:   
Net Asset Value, offering price and redemption price per share ($27,577,016 ÷ 2,482,971 shares)  $11.11 
Institutional Class:   
Net Asset Value, offering price and redemption price per share ($2,290,127 ÷ 206,162 shares)  $11.11 

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


Statement of Operations

  Six months ended April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $403,223 
Interest  579 
Income from Fidelity Central Funds  9,453 
Income before foreign taxes withheld  413,255 
Less foreign taxes withheld  (44,651) 
Total income  368,604 
Expenses   
Management fee $22,698  
Transfer agent fees 11,323  
Independent trustees' fees and expenses 46  
Miscellaneous  
Total expenses before reductions 34,073  
Expense reductions (37) 34,036 
Net investment income (loss)  334,568 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $424) (25,364)  
Foreign currency transactions 18,773  
Futures contracts 37,276  
Total net realized gain (loss)  30,685 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $11,645) (102,762)  
Assets and liabilities in foreign currencies (1,854)  
Futures contracts (886)  
Total change in net unrealized appreciation (depreciation)  (105,502) 
Net gain (loss)  (74,817) 
Net increase (decrease) in net assets resulting from operations  $259,751 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2018 (Unaudited) For the period
May 9, 2017 (commencement of operations) to October 31, 2017 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $334,568 $110,330 
Net realized gain (loss) 30,685 49,606 
Change in net unrealized appreciation (depreciation) (105,502) 777,134 
Net increase (decrease) in net assets resulting from operations 259,751 937,070 
Distributions to shareholders from net investment income (164,057) – 
Distributions to shareholders from net realized gain (98,896) – 
Total distributions (262,953) – 
Share transactions - net increase (decrease) 17,377,190 16,884,074 
Total increase (decrease) in net assets 17,373,988 17,821,144 
Net Assets   
Beginning of period 17,821,144 – 
End of period $35,195,132 $17,821,144 
Other Information   
Undistributed net investment income end of period $280,841 $110,330 

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


Financial Highlights

Fidelity International Sustainability Index Fund Investor Class

 Six months ended (Unaudited) April 30, Years endedOctober 31, 
 2018 2017 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.96 $10.00 
Income from Investment Operations   
Net investment income (loss)B .14 .11 
Net realized and unrealized gain (loss) .14 .85 
Total from investment operations .28 .96 
Distributions from net investment income (.08) – 
Distributions from net realized gain (.05) – 
Total distributions (.14)C – 
Net asset value, end of period $11.10 $10.96 
Total ReturnD,E 2.53% 9.60% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .30%H .30%H 
Expenses net of fee waivers, if any .30%H .30%H 
Expenses net of all reductions .30%H .30%H 
Net investment income (loss) 2.46%H 2.15%H 
Supplemental Data   
Net assets, end of period (000 omitted) $5,328 $3,485 
Portfolio turnover rateI 1%H 4%J 

 A For the period May 9, 2017 (commencement of operations) to October 31, 2017.

 B Calculated based on average shares outstanding during the period.

 C Total distributions of $.14 per share is comprised of distributions from net investment income of $.083 and distributions from net realized gain of $.052 per share.

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

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

 F 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.

 G 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. 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 class.

 H Annualized

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

 J Amount not annualized.


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


Fidelity International Sustainability Index Fund Premium Class

 Six months ended (Unaudited) April 30, Years endedOctober 31, 
 2018 2017 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.96 $10.00 
Income from Investment Operations   
Net investment income (loss)B .14 .11 
Net realized and unrealized gain (loss) .15 .85 
Total from investment operations .29 .96 
Distributions from net investment income (.09) – 
Distributions from net realized gain (.05) – 
Total distributions (.14) – 
Net asset value, end of period $11.11 $10.96 
Total ReturnC,D 2.66% 9.60% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .25%G .25%G 
Expenses net of fee waivers, if any .25%G .25%G 
Expenses net of all reductions .25%G .25%G 
Net investment income (loss) 2.51%G 2.20%G 
Supplemental Data   
Net assets, end of period (000 omitted) $27,577 $12,368 
Portfolio turnover rateH 1%G 4%I 

 A For the period May 9, 2017 (commencement of operations) to October 31, 2017.

 B Calculated based on average shares outstanding during the period.

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

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

 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 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. 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 class.

 G Annualized

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

 I Amount not annualized.


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


Fidelity International Sustainability Index Fund Institutional Class

 Six months ended (Unaudited) April 30, Years endedOctober 31, 
 2018 2017 A 
Selected Per–Share Data   
Net asset value, beginning of period $10.96 $10.00 
Income from Investment Operations   
Net investment income (loss)B .14 .11 
Net realized and unrealized gain (loss) .15 .85 
Total from investment operations .29 .96 
Distributions from net investment income (.09) – 
Distributions from net realized gain (.05) – 
Total distributions (.14) – 
Net asset value, end of period $11.11 $10.96 
Total ReturnC,D 2.69% 9.60% 
Ratios to Average Net AssetsE,F   
Expenses before reductions .20%G .20%G 
Expenses net of fee waivers, if any .20%G .20%G 
Expenses net of all reductions .20%G .20%G 
Net investment income (loss) 2.56%G 2.25%G 
Supplemental Data   
Net assets, end of period (000 omitted) $2,290 $1,968 
Portfolio turnover rateH 1%G 4%I 

 A For the period May 9, 2017 (commencement of operations) to October 31, 2017.

 B Calculated based on average shares outstanding during the period.

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

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

 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 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. 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 class.

 G Annualized

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

 I Amount not annualized.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity International Sustainability Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. 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 offers Investor Class, Premium Class and 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. 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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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. 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2018, including information on transfers between Levels 1 and 2, 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.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of the 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 the 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.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

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

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $2,127,236 
Gross unrealized depreciation (1,433,157) 
Net unrealized appreciation (depreciation) $694,079 
Tax cost $34,911,376 

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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $17,838,147 and $72,178, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. 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. The management fee is based on an annual rate of .17% of the Fund's average net assets. Under the management contract, the investment adviser pays all other fund-level expenses, except the compensation of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

In addition, under the 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 .30% 
Premium Class .25% 
Institutional Class .20% 

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.

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. FIIOC receives transfer agent fees at an annual rate of .21%, .11% and .035% of class-level average net assets for Investor Class, Premium Class and Institutional Class, respectively. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. Under the expense contract, Investor Class, Premium Class and Institutional Class pay a portion of the transfer agent fees at an annual rate of .13%, .08% and .03%, of class-level average net assets, respectively.

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

 Amount 
Investor Class $3,087 
Premium Class 7,908 
Institutional Class 328 
 $ 11,323 

Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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 $6 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's expenses by $37.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2018 
Year ended
October 31, 2017 
From net investment income   
Investor Class $29,021 $– 
Premium Class 118,256 – 
Institutional Class 16,780 – 
Total $164,057 $– 
From net realized gain   
Investor Class $18,182 $– 
Premium Class 71,033 – 
Institutional Class 9,681 – 
Total $98,896 $– 

10. Share Transactions.

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

 Shares Shares Dollars Dollars 
 Six months ended April 30, 2018 Year ended October 31, 2017 Six months ended April 30, 2018 Year ended October 31, 2017 
Investor Class     
Shares sold 527,551 582,616 $5,951,701 $6,036,278 
Reinvestment of distributions 4,265 – 46,448 – 
Shares redeemed (370,142) (264,502) (4,179,125) (2,795,046) 
Net increase (decrease) 161,674 318,114 $1,819,024 $3,241,232 
Premium Class     
Shares sold 1,485,056 1,173,399 $16,731,665 $12,295,717 
Reinvestment of distributions 16,544 – 180,162 – 
Shares redeemed (147,327) (44,701) (1,651,965) (476,608) 
Net increase (decrease) 1,354,273 1,128,698 $15,259,862 $11,819,109 
Institutional Class     
Shares sold 34,243 179,549 $385,071 $1,823,733 
Reinvestment of distributions 1,939 – 21,115 – 
Shares redeemed (9,569) – (107,882) – 
Net increase (decrease) 26,613 179,549 $298,304 $1,823,733 

11. 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, the investment adviser or its affiliates were the owners of record of 13% of the total outstanding shares of the Fund.

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 (November 1, 2017 to April 30, 2018).

Actual Expenses

The first line of the accompanying table for each class of the 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, 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 for each class of the 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, 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.

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.

 Annualized Expense Ratio-A Beginning
Account Value
November 1, 2017 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period-B
November 1, 2017
to April 30, 2018 
Investor Class .30%    
Actual  $1,000.00 $1,025.30 $1.51 
Hypothetical-C  $1,000.00 $1,023.31 $1.51 
Premium Class .25%    
Actual  $1,000.00 $1,026.60 $1.26 
Hypothetical-C  $1,000.00 $1,023.55 $1.25 
Institutional Class .20%    
Actual  $1,000.00 $1,026.90 $1.01 
Hypothetical-C  $1,000.00 $1,023.80 $1.00 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

 C 5% return per year before expenses






Fidelity Investments

ISY-SANN-0618
1.9883819.100


Fidelity® SAI International Value Index Fund

Offered exclusively to certain clients of the Adviser or its affiliates - not available for sale to the general public. Fidelity SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers LLC.



Semi-Annual Report

April 30, 2018




Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Board Approval of Investment Advisory Contracts and Management Fees


To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2018 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-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.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2018 
   Japan 27.4% 
   France 18.4% 
   United Kingdom 15.8% 
   Germany 6.8% 
   Australia 6.0% 
   Italy 4.3% 
   Spain 4.1% 
   Netherlands 3.7% 
   Bailiwick of Jersey 2.3% 
   Other* 11.2% 


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


Percentages are based on country or territory of incorporation and include the effect of futures contracts, as applicable.

Asset Allocation as of April 30, 2018

 % of fund's net assets 
Stocks and Equity Futures 100.0 

Top Ten Stocks as of April 30, 2018

 % of fund's net assets 
Bayer AG (Germany, Pharmaceuticals) 2.6 
BNP Paribas SA (France, Banks) 2.5 
Sanofi SA (France, Pharmaceuticals) 2.5 
Total SA (France, Oil, Gas & Consumable Fuels) 2.0 
Honda Motor Co. Ltd. (Japan, Automobiles) 2.0 
Royal Dutch Shell PLC Class B (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 1.9 
Sumitomo Mitsui Financial Group, Inc. (Japan, Banks) 1.9 
Intesa Sanpaolo SpA (Italy, Banks) 1.9 
AXA SA (France, Insurance) 1.8 
BHP Billiton Ltd. (Australia, Metals & Mining) 1.7 
 20.8 

Top Market Sectors as of April 30, 2018

 % of fund's net assets 
Financials 20.0 
Industrials 14.9 
Consumer Discretionary 13.2 
Materials 9.9 
Consumer Staples 8.8 
Health Care 8.2 
Energy 6.6 
Telecommunication Services 5.6 
Utilities 5.0 
Information Technology 4.6 

Schedule of Investments April 30, 2018 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.4%   
 Shares Value 
Australia - 6.0%   
Australia & New Zealand Banking Group Ltd. 151,872 $3,052,962 
Bendigo & Adelaide Bank Ltd. 33,479 266,467 
BHP Billiton Ltd. 160,674 3,748,404 
Fortescue Metals Group Ltd. 116,448 395,093 
Qantas Airways Ltd. 59,148 255,802 
Rio Tinto Ltd. 28,328 1,685,917 
South32 Ltd. 355,336 986,065 
Wesfarmers Ltd. 77,762 2,558,338 
TOTAL AUSTRALIA  12,949,048 
Austria - 0.3%   
OMV AG 9,864 613,456 
Bailiwick of Jersey - 2.3%   
Shire PLC 62,814 3,344,841 
WPP PLC 91,032 1,562,121 
TOTAL BAILIWICK OF JERSEY  4,906,962 
Belgium - 0.4%   
Colruyt NV 4,027 227,005 
UCB SA 8,283 627,760 
TOTAL BELGIUM  854,765 
Bermuda - 1.1%   
Hongkong Land Holdings Ltd. 80,589 582,436 
Jardine Matheson Holdings Ltd. 21,816 1,321,040 
Jardine Strategic Holdings Ltd. 12,146 459,670 
TOTAL BERMUDA  2,363,146 
Cayman Islands - 1.0%   
CK Hutchison Holdings Ltd. 190,500 2,252,635 
Denmark - 1.4%   
A.P. Moller - Maersk A/S Series B 657 1,060,196 
Carlsberg A/S Series B 7,246 812,014 
Jyske Bank A/S (Reg.) 4,676 281,104 
Vestas Wind Systems A/S 14,785 956,469 
TOTAL DENMARK  3,109,783 
Finland - 0.2%   
Kesko Oyj 4,637 272,703 
Nokia Corp. 42,306 253,845 
TOTAL FINLAND  526,548 
France - 18.4%   
Atos Origin SA 6,323 854,430 
AXA SA 133,187 3,808,969 
BNP Paribas SA 69,909 5,401,327 
Bouygues SA 14,912 760,827 
Carrefour SA 40,369 830,450 
Compagnie de St. Gobain 38,065 1,999,347 
Credit Agricole SA 84,060 1,384,101 
Danone SA 11,249 911,234 
Eiffage SA 4,570 544,699 
ENGIE 110,862 1,947,910 
Eutelsat Communications 11,962 259,149 
Faurecia SA 5,009 410,113 
Fonciere des Regions 3,669 410,503 
Gecina SA 3,295 571,390 
Ingenico SA 4,277 373,939 
Michelin CGDE Series B 12,273 1,727,373 
Peugeot Citroen SA 37,854 933,449 
Renault SA 13,160 1,427,739 
Rexel SA 20,656 320,533 
Sanofi SA 67,948 5,372,127 
Societe Generale Series A 51,919 2,841,464 
Total SA 68,533 4,307,419 
VINCI SA 26,128 2,612,374 
TOTAL FRANCE  40,010,866 
Germany - 6.8%   
Aurubis AG 2,305 206,314 
Bayer AG 47,999 5,736,822 
Bayerische Motoren Werke AG (BMW) 21,076 2,353,489 
Covestro AG (a) 6,526 595,473 
Daimler AG (Germany) 29,872 2,362,809 
Deutsche Lufthansa AG 16,082 469,396 
Deutsche Telekom AG 12,294 215,190 
HeidelbergCement Finance AG 9,249 907,600 
Merck KGaA 8,858 868,804 
Metro Wholesale & Food Specialist AG 11,503 166,901 
ProSiebenSat.1 Media AG 15,975 579,542 
Uniper SE 13,294 412,102 
TOTAL GERMANY  14,874,442 
Hong Kong - 1.6%   
Fosun International Ltd. 166,000 352,749 
Sun Hung Kai Properties Ltd. 113,000 1,819,802 
Swire Pacific Ltd. (A Shares) 34,000 335,965 
Swire Properties Ltd. 72,000 255,563 
Wharf Holdings Ltd. 82,000 272,802 
Wheelock and Co. Ltd. 55,000 408,057 
TOTAL HONG KONG  3,444,938 
Ireland - 0.3%   
Bank Ireland Group PLC 63,820 574,164 
Glanbia PLC 3,345 56,552 
TOTAL IRELAND  630,716 
Isle of Man - 0.1%   
Playtech Ltd. 20,148 224,842 
Israel - 0.6%   
Bank Hapoalim BM (Reg.) 73,462 503,362 
Bank Leumi le-Israel BM 97,957 579,748 
Israel Discount Bank Ltd. (Class A) (b) 80,831 224,371 
TOTAL ISRAEL  1,307,481 
Italy - 4.3%   
Enel SpA 529,459 3,358,741 
Intesa Sanpaolo SpA 1,055,844 4,016,386 
Leonardo SpA 26,951 312,767 
Mediobanca SpA 41,962 510,027 
Telecom Italia SpA (b) 1,154,773 1,140,983 
TOTAL ITALY  9,338,904 
Japan - 27.4%   
Aisin Seiki Co. Ltd. 13,100 711,800 
Asahi Glass Co. Ltd. 16,200 672,777 
Astellas Pharma, Inc. 105,100 1,537,217 
Brother Industries Ltd. 16,900 364,219 
Central Japan Railway Co. 14,100 2,833,672 
Concordia Financial Group Ltd. 88,200 513,935 
Daicel Chemical Industries Ltd. 24,000 277,936 
Dic Corp. 6,200 210,977 
Electric Power Development Co. Ltd. 11,900 324,169 
Fujifilm Holdings Corp. 30,000 1,208,836 
Fujitsu Ltd. 142,000 864,963 
Haseko Corp. 20,600 325,055 
Hitachi Ltd. 332,000 2,434,424 
Honda Motor Co. Ltd. 124,300 4,274,175 
Idemitsu Kosan Co. Ltd. 9,900 388,049 
Iida Group Holdings Co. Ltd. 12,400 242,850 
INPEX Corp. 71,800 921,144 
Itochu Corp. 107,200 2,151,453 
Japan Airlines Co. Ltd. 8,000 315,404 
JX Holdings, Inc. 220,900 1,443,569 
Kajima Corp. 72,000 694,841 
Kansai Electric Power Co., Inc. 55,400 775,357 
Konica Minolta, Inc. 34,400 295,792 
Lawson, Inc. 3,400 224,863 
Marubeni Corp. 119,100 897,935 
Mazda Motor Corp. 41,100 572,024 
Mebuki Financial Group, Inc. 72,600 282,245 
Medipal Holdings Corp. 14,000 301,079 
Mitsubishi Chemical Holdings Corp. 103,300 982,257 
Mitsubishi Corp. 109,100 3,020,908 
Mitsubishi Materials Corp. 9,100 278,028 
Mitsui & Co. Ltd. 123,200 2,227,450 
Mitsui Chemicals, Inc. 14,100 404,995 
Mizuho Financial Group, Inc. 1,741,200 3,150,243 
NEC Corp. 17,900 492,037 
New Hampshire Foods Ltd. 7,400 323,902 
Nippon Steel & Sumitomo Metal Corp. 60,700 1,324,273 
Nippon Telegraph & Telephone Corp. 47,500 2,254,121 
Nissan Motor Co. Ltd. 91,500 963,797 
Obayashi Corp. 49,400 570,278 
ORIX Corp. 87,500 1,539,974 
Resona Holdings, Inc. 151,300 861,685 
Ricoh Co. Ltd. 51,400 503,562 
Seiko Epson Corp. 21,900 411,677 
Seven & i Holdings Co. Ltd. 54,800 2,414,533 
SHIMIZU Corp. 49,700 492,817 
Subaru Corp. 43,800 1,474,023 
Sumitomo Corp. 85,800 1,545,766 
Sumitomo Electric Industries Ltd. 54,400 835,756 
Sumitomo Mitsui Financial Group, Inc. 96,700 4,030,288 
Sumitomo Rubber Industries Ltd. 13,300 238,091 
Taisei Corp. 15,400 832,547 
TDK Corp. 8,900 769,347 
Tokyo Electric Power Co., Inc. (b) 55,800 265,933 
Toppan Printing Co. Ltd. 45,000 377,058 
Tosoh Corp. 22,300 396,145 
Yamazaki Baking Co. Ltd. 12,500 274,195 
Yokohama Rubber Co. Ltd. 9,200 217,545 
TOTAL JAPAN  59,533,991 
Luxembourg - 0.9%   
ArcelorMittal SA (Netherlands) 43,192 1,465,398 
SES SA (France) (depositary receipt) 26,297 406,480 
TOTAL LUXEMBOURG  1,871,878 
Netherlands - 3.7%   
AEGON NV 96,167 707,472 
ASM International NV (Netherlands) 3,331 199,919 
ASR Nederland NV 6,033 285,298 
Fiat Chrysler Automobiles NV 73,568 1,649,772 
Gemalto NV 5,831 351,231 
Heineken Holding NV 7,933 806,627 
Koninklijke Ahold Delhaize NV 85,511 2,065,778 
NN Group NV 20,869 1,000,244 
Philips Lighting NV (a) 5,179 157,855 
Randstad NV 8,553 551,341 
SBM Offshore NV 14,282 240,250 
TOTAL NETHERLANDS  8,015,787 
Norway - 0.6%   
Marine Harvest ASA 28,236 614,714 
Norsk Hydro ASA 93,607 584,665 
TOTAL NORWAY  1,199,379 
Portugal - 0.3%   
Energias de Portugal SA 167,210 621,115 
Singapore - 1.1%   
United Overseas Bank Ltd. 81,100 1,836,447 
Wilmar International Ltd. 246,900 604,023 
TOTAL SINGAPORE  2,440,470 
Spain - 4.1%   
ACS Actividades de Construccion y Servicios SA 18,775 791,268 
Banco de Sabadell SA 352,746 692,850 
Enagas SA 15,508 452,081 
Endesa SA 21,919 512,712 
Gas Natural SDG SA 24,017 606,451 
International Consolidated Airlines Group SA CDI 56,491 490,114 
MAPFRE SA (Reg.) 68,006 236,846 
Merlin Properties Socimi SA 23,017 355,780 
Repsol SA 87,466 1,674,139 
Telefonica SA 313,350 3,193,189 
TOTAL SPAIN  9,005,430 
Sweden - 0.7%   
Castellum AB 18,672 302,790 
Fabege AB 19,200 222,112 
Industrivarden AB (A Shares) 22,681 499,639 
SSAB Svenskt Stal AB (A Shares) 44,456 252,572 
Volvo AB (B Shares) 10,249 174,627 
TOTAL SWEDEN  1,451,740 
United Kingdom - 15.8%   
3i Group PLC 66,595 863,271 
Anglo American PLC (United Kingdom) 96,419 2,269,058 
Babcock International Group PLC 34,352 347,977 
Barratt Developments PLC 69,026 530,257 
Bellway PLC 8,408 383,837 
Berkeley Group Holdings PLC 9,611 538,785 
BHP Billiton PLC 144,872 3,089,023 
British American Tobacco PLC (United Kingdom) 28,829 1,581,199 
BT Group PLC 567,454 1,947,696 
Carnival PLC 10,019 651,188 
Carphone Warehouse Group PLC 69,298 193,667 
Centrica PLC 386,747 818,884 
Fresnillo PLC 12,793 224,555 
Imperial Tobacco Group PLC 66,078 2,369,303 
Investec PLC 46,004 365,689 
J Sainsbury PLC 116,767 496,727 
Kingfisher PLC 148,186 618,000 
Lloyds Banking Group PLC 2,905,890 2,577,373 
Marks & Spencer Group PLC 111,309 440,121 
Micro Focus International PLC 13,708 236,369 
NEX Group PLC 21,616 294,016 
Persimmon PLC 20,823 778,310 
Rio Tinto PLC 18,821 1,025,856 
Royal Dutch Shell PLC Class B (United Kingdom) 114,113 4,073,705 
Royal Mail PLC 62,799 502,479 
Scottish & Southern Energy PLC 70,064 1,329,717 
Tate & Lyle PLC 32,366 256,032 
Taylor Wimpey PLC 224,217 591,893 
Tesco PLC 292,730 948,135 
Vodafone Group PLC 1,202,662 3,509,627 
WM Morrison Supermarkets PLC 161,254 539,678 
TOTAL UNITED KINGDOM  34,392,427 
TOTAL COMMON STOCKS   
(Cost $220,290,455)  215,940,749 
Money Market Funds - 0.1%   
Fidelity Cash Central Fund, 1.74% (c)   
(Cost $117,149) 117,126 117,149 
TOTAL INVESTMENT IN SECURITIES - 99.5%   
(Cost $220,407,604)  216,057,898 
NET OTHER ASSETS (LIABILITIES) - 0.5%  1,193,877 
NET ASSETS - 100%  $217,251,775 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 13 June 2018 $1,317,225 $(1,738) $(1,738) 

The notional amount of futures purchased as a percentage of Net Assets is 0.6%

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

Legend

 (a) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $753,328 or 0.3% of net assets.

 (b) Non-income producing

 (c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.


Affiliated Central Funds

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 $11,584 
Total $11,584 

Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2018, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $28,478,052 $20,352,905 $8,125,147 $-- 
Consumer Staples 19,354,906 10,337,444 9,017,462 -- 
Energy 14,113,812 5,732,688 8,381,124 -- 
Financials 43,594,069 18,013,470 25,580,599 -- 
Health Care 17,788,650 1,797,643 15,991,007 -- 
Industrials 33,169,216 24,167,209 9,002,007 -- 
Information Technology 9,772,445 9,282,231 490,214 -- 
Materials 21,310,604 9,795,581 11,515,023 -- 
Real Estate 5,537,200 1,862,575 3,674,625 -- 
Telecommunication Services 12,260,806 1,140,983 11,119,823 -- 
Utilities 10,560,989 5,872,531 4,688,458 -- 
Money Market Funds 117,149 117,149 -- -- 
Total Investments in Securities: $216,057,898 $108,472,409 $107,585,489 $-- 
Derivative Instruments:     
Liabilities     
Futures Contracts $(1,738) $(1,738) $-- $-- 
Total Liabilities $(1,738) $(1,738) $-- $-- 
Total Derivative Instruments: $(1,738) $(1,738) $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2018. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type Value 
 Asset Liability 
Equity Risk   
Futures Contracts(a) $0 $(1,738) 
Total Equity Risk (1,738) 
Total Value of Derivatives $0 $(1,738) 

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


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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2018 (Unaudited) 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $220,290,455) 
$215,940,749  
Fidelity Central Funds (cost $117,149) 117,149  
Total Investment in Securities (cost $220,407,604)  $216,057,898 
Segregated cash with brokers for derivative instruments  54,000 
Cash  7,200 
Foreign currency held at value (cost $228,533)  227,091 
Dividends receivable  973,427 
Distributions receivable from Fidelity Central Funds  1,723 
Prepaid expenses  16,018 
Receivable from investment adviser for expense reductions  36,978 
Total assets  217,374,335 
Liabilities   
Accrued management fee $25,823  
Transfer agent fee payable 12,911  
Payable for daily variation margin on futures contracts 5,247  
Other affiliated payables 6,697  
Custodian fees and expenses payable 29,762  
Registration fees payable 26,483  
Audit fees payable  15,637  
Total liabilities  122,560 
Net Assets  $217,251,775 
Net Assets consist of:   
Paid in capital  $220,017,777 
Undistributed net investment income  1,753,365 
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions  (149,544) 
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies  (4,369,823) 
Net Assets, for 21,185,924 shares outstanding  $217,251,775 
Net Asset Value, offering price and redemption price per share ($217,251,775 ÷ 21,185,924 shares)  $10.25 

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


Statement of Operations

  For the period
December 19, 2017 (commencement of operations) to
April 30, 2018 (Unaudited) 
Investment Income   
Dividends  $2,070,497 
Income from Fidelity Central Funds  11,584 
Income before foreign taxes withheld  2,082,081 
Less foreign taxes withheld  (177,055) 
Total income  1,905,026 
Expenses   
Management fee $85,654  
Transfer agent fees 42,827  
Accounting fees and expenses 22,213  
Custodian fees and expenses 35,989  
Independent trustees' fees and expenses 151  
Registration fees 36,881  
Audit 17,890  
Legal 32  
Miscellaneous 325  
Total expenses before reductions 241,962  
Expense reductions (128,101) 113,861 
Net investment income (loss)  1,791,165 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (128,145)  
Foreign currency transactions 4,109  
Futures contracts (25,508)  
Total net realized gain (loss)  (149,544) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (4,349,706)  
Assets and liabilities in foreign currencies (18,379)  
Futures contracts (1,738)  
Total change in net unrealized appreciation (depreciation)  (4,369,823) 
Net gain (loss)  (4,519,367) 
Net increase (decrease) in net assets resulting from operations  $(2,728,202) 

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


Statement of Changes in Net Assets

 For the period
December 19, 2017 (commencement of operations) to
April 30, 2018 (Unaudited) 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $1,791,165 
Net realized gain (loss) (149,544) 
Change in net unrealized appreciation (depreciation) (4,369,823) 
Net increase (decrease) in net assets resulting from operations (2,728,202) 
Distributions to shareholders from net investment income (37,800) 
Share transactions  
Proceeds from sales of shares 224,001,202 
Reinvestment of distributions 37,800 
Cost of shares redeemed (4,021,225) 
Net increase (decrease) in net assets resulting from share transactions 220,017,777 
Total increase (decrease) in net assets 217,251,775 
Net Assets  
Beginning of period – 
End of period $217,251,775 
Other Information  
Undistributed net investment income end of period $1,753,365 
Shares  
Sold 21,576,403 
Issued in reinvestment of distributions 3,757 
Redeemed (394,236) 
Net increase (decrease) 21,185,924 

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


Financial Highlights

Fidelity SAI International Value Index Fund

 Six months ended (Unaudited) April 30, 
 2018 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .12 
Net realized and unrealized gain (loss) .14C 
Total from investment operations .26 
Distributions from net investment income (.01) 
Total distributions (.01) 
Net asset value, end of period $10.25 
Total ReturnD,E 2.57% 
Ratios to Average Net AssetsF,G  
Expenses before reductions .42%H 
Expenses net of fee waivers, if any .20%H 
Expenses net of all reductions .20%H 
Net investment income (loss) 3.13%H 
Supplemental Data  
Net assets, end of period (000 omitted) $217,252 
Portfolio turnover rateI 23%J 

 A For the period December 19, 2017 (commencement of operations) to April 30, 2018.

 B Calculated based on average shares outstanding during the period.

 C The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

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

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

 F 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.

 G 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.

 H Annualized

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

 J Amount not annualized.


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


Notes to Financial Statements (Unaudited)

For the period ended April 30, 2018

1. Organization.

Fidelity SAI International Value Index Fund (the Fund) is a fund of Fidelity Salem Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

2. Investments in Fidelity Central Funds.

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.

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 .005%.

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 are available on the SEC website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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. 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

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:

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 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.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2018 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.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. 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. 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. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation $4,626,100 
Gross unrealized depreciation (9,341,122) 
Net unrealized appreciation (depreciation) $(4,715,022) 
Tax cost $220,771,182 

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.

The Fund's use of derivatives increased or decreased its 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 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.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its 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 on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $256,065,935 and $35,653,063, 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 .15% of the Fund's average net assets.

Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of the investment adviser, is the Fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC receives an asset-based fee of .075% of the Fund's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Accounting Fees. Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The fee is based on the level of average net assets for each month. For the period, the fees were equivalent to an annualized rate of .04%.

Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

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 $33 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. Expense Reductions.

The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .20% of average net assets. This reimbursement will remain in place through December 31, 2018. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $128,101.

9. 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, Strategic Advisers Fidelity International Fund was the owner of record of approximately 99% of the total outstanding shares of the Fund.

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 actual expense Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 19, 2017 to April 30, 2018). The hypothetical expense Example is based on an investment of $1,000 invested for the one-half year period (November 1, 2017 to April 30, 2018).

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.

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.

 Annualized Expense Ratio-A Beginning
Account Value
 
Ending
Account Value
April 30, 2018 
Expenses Paid
During Period
 
Actual .20% $1,000.00 $1,025.70 $.74-B 
Hypothetical-C  $1,000.00 $1,023.80 $1.00-D 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Actual expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 133/365 (to reflect the period (December 19, 2017 to April 30, 2018).

 C 5% return per year before expenses

 D Hypothetical expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).


Board Approval of Investment Advisory Contracts and Management Fees

Fidelity SAI International Value Index Fund

On September 14, 2017, the Board of Trustees, including the Independent Trustees (together, the Board), voted to approve 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, considered a broad range of information.

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 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.

Resources Dedicated to Investment Management and Support Services.  The Board reviewed the general qualifications and capabilities of Fidelity's and Geode's investment staffs, including their 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. Additionally, in its deliberations, the Board considered Fidelity's and Geode's trading, risk management compliance, and technology and operations 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 to be 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, subcustodians, and pricing vendors; and (iii) the resources devoted to, and the record of compliance with, the fund's compliance policies and procedures.

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 Performance.  The fund is a new fund and therefore had no historical performance for the Board to review at the time it approved the fund's Advisory Contracts. The Board considered Geode's experience in managing other index funds under the Board's supervision.

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

Competitiveness of Management Fee and Total Expense Ratio.  The Board considered the fund's proposed management fee and the projected total expense ratio (after the effect of the contractual expense cap referred to in the next paragraph) in reviewing the Advisory Contracts. The Board noted that the fund's proposed management fee rate is lower than the median fee rate of funds in its Lipper peer group. The Board also considered that the projected total expense ratio of the fund is below the median of funds in its No-Load peer group, but above the median of funds in its Institutional peer group. The Board considered FMR's representation that it believes the expense structure of the fund more closely resembles funds in its No-Load retail universe due to its retail-like distribution and shareholder servicing characteristics and that the fund ranks below median compared to the No-Load peer group.

The Board also noted that FMR had contractually agreed to reimburse the fund through December 31, 2018, to the extent total operating expenses (excluding interest, certain taxes, certain securities lending costs, brokerage commissions, fees and expenses of the Independent Trustees, extraordinary expenses, proxy and shareholder meeting expenses, and acquired fund fees and expenses, if any), as a percentage of its average net assets exceed 0.20%.

Based on its review, the Board concluded that the fund's management fee and projected total expense ratio were reasonable in light of the services that the fund and its shareholders will receive and the other factors considered.

Costs of the Services and Profitability.  The fund is a new fund and therefore no revenue, cost, or profitability data was available for the Board to review in respect of the fund at the time it approved the Advisory Contracts. In connection with its future renewal of the fund's Advisory Contracts, the Board will consider 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.

Economies of Scale.  The Board will consider economies of scale when there is operating experience to permit assessment thereof. It noted that, notwithstanding the entrepreneurial risk associated with a new fund, the fund's management fee was at a level normally associated, by comparison with competitors, with very high fund net assets, and Fidelity asserted to the Board that the level of the fee anticipated economies of scale at lower asset levels even before, if ever, economies of scale are achieved. The Board also noted that the fund and its shareholders would have access to the very considerable number and variety of services available through Fidelity and its affiliates.

Additional Information Considered by the Board:  The Board also received information explaining that the fund's investments will be chosen using an investment discipline developed by Geode, the sub-adviser to Fidelity's equity index funds.

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





Fidelity Investments

Corporate Headquarters

245 Summer St.

Boston, MA 02210

www.fidelity.com

IIV-SANN-0618
1.9885502.100



Item 2.

Code of Ethics


Not applicable.

 

Item 3.

Audit Committee Financial Expert


Not applicable.


Item 4.

Principal Accountant Fees and Services


Not applicable.


Item 5.

Audit Committee of Listed Registrants


Not applicable.


Item 6.  

Investments


(a)

Not applicable.


(b)

Not applicable


Item 7.

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


Not applicable.


Item 8.

Portfolio Managers of Closed-End Management Investment Companies


Not applicable.


Item 9.  

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


Not applicable.


Item 10.

Submission of Matters to a Vote of Security Holders


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


Item 11.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Salem Street Trusts (the Trust) disclosure controls and procedures (as



defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.


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


Item 12.

Disclosure of Securities Lending Activities for Closed-End Management

Investment Companies


Not applicable.



Item 13.

Exhibits


(a)

(1)

Not applicable.

(a)

(2)

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

(a)

(3)

Not applicable.

(b)


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




SIGNATURES


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


Fidelity Salem Street Trust



By:

/s/Laura M. Del Prato


Laura M. Del Prato


President and Treasurer



Date:

June 27, 2018


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



By:

/s/Laura M. Del Prato


Laura M. Del Prato


President and Treasurer



Date:

June 27, 2018



By:

/s/Howard J. Galligan III


Howard J. Galligan III


Chief Financial Officer



Date:

June 27, 2018