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)


William C. Coffey, 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, 2019


Item 1.

Reports to Stockholders




Fidelity® Series Global ex U.S. Index Fund



Semi-Annual Report

April 30, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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 1-800-835-5092 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. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Japan 15.7% 
   United Kingdom 10.7% 
   France 6.9% 
   Canada 6.8% 
   Germany 5.9% 
   Switzerland 5.9% 
   Cayman Islands 5.0% 
   Australia 4.5% 
   Korea (South) 3.3% 
   Other* 35.3% 


 * 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, 2019

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

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.4 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 1.4 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail) 1.2 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 1.0 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 0.9 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.9 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.9 
Novartis AG (Switzerland, Pharmaceuticals) 0.9 
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
 10.0 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 21.8 
Industrials 11.6 
Consumer Discretionary 11.4 
Consumer Staples 9.6 
Information Technology 8.5 
Health Care 7.9 
Materials 7.3 
Energy 7.2 
Communication Services 6.9 
Real Estate 3.3 

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.2%   
 Shares Value 
Australia - 4.5%   
AGL Energy Ltd. 226,469 $3,549,004 
Alumina Ltd. 922,422 1,456,586 
Amcor Ltd. 379,526 4,288,776 
AMP Ltd. 967,412 1,548,088 
APA Group unit 386,112 2,618,464 
Aristocrat Leisure Ltd. 200,517 3,686,524 
ASX Ltd. 66,475 3,491,186 
Aurizon Holdings Ltd. 648,615 2,176,468 
Australia & New Zealand Banking Group Ltd. 972,787 18,652,841 
Bank of Queensland Ltd. 135,255 883,876 
Bendigo & Adelaide Bank Ltd. 163,357 1,186,133 
BHP Billiton Ltd. 998,966 26,434,979 
BlueScope Steel Ltd. 189,446 1,796,247 
Boral Ltd. 423,805 1,448,992 
Brambles Ltd. 551,689 4,686,404 
Caltex Australia Ltd. 87,065 1,670,054 
Challenger Ltd. 182,279 1,056,250 
Cimic Group Ltd. 31,127 1,110,095 
Coca-Cola Amatil Ltd. 161,325 1,000,789 
Cochlear Ltd. 19,003 2,509,504 
Coles Group Ltd. (a) 373,408 3,319,380 
Commonwealth Bank of Australia 598,570 31,444,602 
Computershare Ltd. 152,615 1,918,257 
Crown Ltd. 120,663 1,130,466 
CSL Ltd. 153,977 21,553,996 
DEXUS Property Group unit 332,527 2,930,186 
Dominos Pizza Enterprises Ltd. 21,382 648,149 
Flight Centre Travel Group Ltd. 19,241 520,855 
Fortescue Metals Group Ltd. 511,690 2,579,118 
Goodman Group unit 561,954 5,213,327 
Harvey Norman Holdings Ltd. (b) 199,880 587,576 
Incitec Pivot Ltd. 603,268 1,433,173 
Insurance Australia Group Ltd. 797,656 4,430,984 
Lendlease Group unit 188,871 1,770,823 
Macquarie Group Ltd. 108,591 10,311,450 
Medibank Private Ltd. 913,274 1,841,304 
Mirvac Group unit 1,199,095 2,392,205 
National Australia Bank Ltd. 924,423 16,505,610 
Newcrest Mining Ltd. 265,342 4,678,192 
Orica Ltd. 126,115 1,653,629 
Origin Energy Ltd. 609,639 3,167,368 
QBE Insurance Group Ltd. 463,873 4,228,204 
Ramsay Health Care Ltd. 46,672 2,149,121 
realestate.com.au Ltd. 17,697 996,792 
Rio Tinto Ltd. 126,612 8,512,262 
Santos Ltd. 613,160 3,107,857 
Scentre Group unit 1,827,699 4,921,827 
SEEK Ltd. 109,958 1,411,546 
Sonic Healthcare Ltd. 150,106 2,714,212 
South32 Ltd. 1,784,522 4,201,716 
SP AusNet 536,657 671,512 
Stockland Corp. Ltd. unit 789,797 2,099,013 
Suncorp Group Ltd. 449,959 4,209,225 
Sydney Airport unit 359,065 1,928,796 
Tabcorp Holdings Ltd. 689,344 2,327,715 
Telstra Corp. Ltd. 1,358,258 3,236,363 
The GPT Group unit 645,067 2,605,660 
TPG Telecom Ltd. 133,141 632,601 
Transurban Group unit 906,042 8,584,320 
Treasury Wine Estates Ltd. 238,141 2,887,493 
Vicinity Centres unit 1,071,871 1,919,263 
Washington H. Soul Pattinson & Co. Ltd. 33,888 549,216 
Wesfarmers Ltd. 385,998 9,798,656 
Westpac Banking Corp. 1,163,173 22,596,258 
Woodside Petroleum Ltd. 317,955 7,932,399 
Woolworths Group Ltd. 449,011 10,081,490 
WorleyParsons Ltd. 109,671 1,107,116 
TOTAL AUSTRALIA  320,692,543 
Austria - 0.2%   
Andritz AG 26,465 1,261,534 
Erste Group Bank AG 103,914 4,160,833 
OMV AG 48,422 2,593,308 
Raiffeisen International Bank-Holding AG 47,366 1,262,798 
Verbund AG 23,580 1,169,501 
Voestalpine AG 41,729 1,339,977 
TOTAL AUSTRIA  11,787,951 
Bailiwick of Jersey - 0.5%   
Experian PLC 297,951 8,673,030 
Ferguson PLC 76,007 5,391,754 
Glencore Xstrata PLC 3,692,316 14,649,485 
Polymetal International PLC 56,581 593,671 
WPP PLC 413,532 5,159,969 
TOTAL BAILIWICK OF JERSEY  34,467,909 
Belgium - 0.7%   
Ageas 59,777 3,151,157 
Anheuser-Busch InBev SA NV 258,152 22,951,558 
Colruyt NV 20,327 1,465,049 
Groupe Bruxelles Lambert SA 25,792 2,465,270 
KBC Groep NV 86,005 6,368,501 
Proximus 54,539 1,526,215 
Solvay SA Class A 26,380 3,170,334 
Telenet Group Holding NV 17,944 952,362 
UCB SA 44,987 3,568,349 
Umicore SA 73,510 2,844,484 
TOTAL BELGIUM  48,463,279 
Bermuda - 0.5%   
Alibaba Health Information Technology Ltd. (a) 1,240,000 1,482,664 
Alibaba Pictures Group Ltd. (a) 4,620,000 1,036,508 
Beijing Enterprises Water Group Ltd. 1,786,000 1,108,737 
Brilliance China Automotive Holdings Ltd. 1,002,000 1,102,292 
Cheung Kong Infrastructure Holdings Ltd. 217,000 1,762,046 
China Gas Holdings Ltd. 579,800 1,866,198 
China Oriental Group Co. Ltd. (H Shares) 356,000 218,280 
China Resource Gas Group Ltd. 286,000 1,323,399 
Cosco Shipping Ports Ltd. 557,800 556,037 
Credicorp Ltd. (United States) 24,211 5,735,586 
Dairy Farm International Holdings Ltd. 113,330 887,374 
GOME Electrical Appliances Holdings Ltd. (a) 3,070,418 352,256 
Haier Electronics Group Co. Ltd. 469,000 1,342,169 
Hanergy Thin Film Power Group Ltd. (a)(c) 1,902,000 2 
HengTen Networks Group Ltd. (a) 5,680,000 162,910 
Hongkong Land Holdings Ltd. 407,765 2,842,122 
Jardine Matheson Holdings Ltd. 75,164 4,945,791 
Jardine Strategic Holdings Ltd. 72,800 2,753,296 
Kerry Properties Ltd. 222,000 948,017 
Kunlun Energy Co. Ltd. 1,052,000 1,110,361 
Luye Pharma Group Ltd. (d) 340,000 307,720 
Nine Dragons Paper (Holdings) Ltd. 483,000 446,378 
NWS Holdings Ltd. 518,515 1,077,375 
Shangri-La Asia Ltd. 372,000 527,310 
Shenzhen International Holdings Ltd. 292,000 629,798 
Sihuan Pharmaceutical Holdings Group Ltd. 1,422,000 382,472 
Yue Yuen Industrial (Holdings) Ltd. 251,500 812,707 
TOTAL BERMUDA  35,719,805 
Brazil - 1.1%   
Ambev SA 1,509,830 7,111,923 
Atacadao Distribuicao Comercio e Industria Ltda 133,800 723,409 
B2W Companhia Global do Varejo (a) 56,700 553,104 
Banco Bradesco SA 385,659 3,048,999 
Banco do Brasil SA 296,200 3,752,829 
Banco Santander SA (Brasil) unit 139,000 1,595,570 
BB Seguridade Participacoes SA 234,000 1,686,476 
BM&F BOVESPA SA 706,825 6,210,023 
BR Malls Participacoes SA 275,330 863,676 
Brasil Foods SA (a) 162,900 1,289,956 
CCR SA 399,800 1,191,926 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 77,400 645,477 
Cielo SA 391,314 766,441 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 117,700 1,410,803 
Companhia Siderurgica Nacional SA (CSN) 208,100 771,665 
Cosan SA Industria e Comercio 56,600 676,556 
Drogasil SA 77,500 1,366,543 
Embraer SA 212,700 1,065,371 
ENGIE Brasil Energia SA 67,550 766,443 
Equatorial Energia SA 56,000 1,172,528 
Hypermarcas SA 113,800 814,951 
IRB Brasil Resseguros SA 46,400 1,111,158 
JBS SA 311,400 1,570,064 
Klabin SA unit 218,500 925,021 
Kroton Educacional SA 447,592 1,112,959 
Localiza Rent A Car SA 191,454 1,767,523 
Lojas Renner SA 236,930 2,832,695 
M. Dias Branco SA 28,100 298,049 
Magazine Luiza SA 25,300 1,234,061 
Multiplan Empreendimentos Imobiliarios SA 90,356 552,123 
Natura Cosmeticos SA 62,900 838,004 
Petrobras Distribuidora SA 118,100 713,823 
Petroleo Brasileiro SA - Petrobras (ON) 952,711 7,279,391 
Porto Seguro SA 29,300 404,406 
Rumo SA (a) 362,200 1,671,934 
Sul America SA unit 72,037 573,195 
Suzano Papel e Celulose SA 182,271 1,893,320 
TIM Participacoes SA 259,403 773,360 
Ultrapar Participacoes SA 238,800 1,278,927 
Vale SA 1,007,286 12,870,120 
Vale SA sponsored ADR 73,373 937,707 
Weg SA 265,866 1,259,797 
TOTAL BRAZIL  79,382,306 
Canada - 6.7%   
Agnico Eagle Mines Ltd. (Canada) 82,410 3,412,784 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 149,503 8,814,841 
AltaGas Ltd. 92,986 1,236,158 
ARC Resources Ltd. 117,096 743,814 
ATCO Ltd. Class I (non-vtg.) 25,738 882,781 
Bank of Montreal 217,944 17,214,924 
Bank of Nova Scotia 416,967 22,963,220 
Barrick Gold Corp. (Canada) 598,034 7,602,089 
Bausch Health Cos., Inc. (Canada) (a) 112,279 2,593,052 
BCE, Inc. 50,621 2,264,852 
BlackBerry Ltd. (a) 172,518 1,582,628 
Bombardier, Inc. Class B (sub. vtg.) (a) 684,070 1,169,307 
Brookfield Asset Management, Inc. Class A 286,121 13,794,548 
CAE, Inc. 89,196 2,074,604 
Cameco Corp. 133,078 1,468,159 
Canadian Imperial Bank of Commerce 152,567 12,846,968 
Canadian National Railway Co. 246,930 22,936,455 
Canadian Natural Resources Ltd. 411,851 12,364,445 
Canadian Pacific Railway Ltd. 48,694 10,910,262 
Canadian Tire Ltd. Class A (non-vtg.) 20,396 2,244,976 
Canadian Utilities Ltd. Class A (non-vtg.) 48,413 1,334,547 
CCL Industries, Inc. Class B 49,976 2,131,916 
Cenovus Energy, Inc. (Canada) 361,854 3,586,938 
CGI Group, Inc. Class A (sub. vtg.) (a) 86,456 6,222,999 
CI Financial Corp. 87,956 1,265,143 
Constellation Software, Inc. 6,942 6,125,200 
Dollarama, Inc. 106,125 3,187,632 
Emera, Inc. 20,697 777,238 
Empire Co. Ltd. Class A (non-vtg.) 57,291 1,274,369 
Enbridge, Inc. 685,512 25,323,572 
Encana Corp. (Toronto) 517,229 3,582,806 
Fairfax Financial Holdings Ltd. (sub. vtg.) 9,799 4,672,975 
Finning International, Inc. 68,984 1,238,386 
First Capital Realty, Inc. 64,415 1,026,543 
First Quantum Minerals Ltd. 227,360 2,401,391 
Fortis, Inc. 148,594 5,492,554 
Franco-Nevada Corp. 65,119 4,665,800 
George Weston Ltd. 26,461 1,975,736 
Gildan Activewear, Inc. 73,891 2,724,651 
Great-West Lifeco, Inc. 97,737 2,456,374 
H&R (REIT) unit 52,054 889,390 
Husky Energy, Inc. 122,263 1,326,942 
Hydro One Ltd. (d) 110,845 1,793,774 
iA Financial Corp, Inc. 38,320 1,525,706 
IGM Financial, Inc. 30,645 846,357 
Imperial Oil Ltd. 96,159 2,793,542 
Intact Financial Corp. 49,528 4,052,224 
Inter Pipeline Ltd. 143,170 2,331,843 
Keyera Corp. 69,898 1,615,318 
Kinross Gold Corp. (a) 403,495 1,283,040 
Loblaw Companies Ltd. 66,699 3,267,489 
Lundin Mining Corp. 217,185 1,165,604 
Magna International, Inc. Class A (sub. vtg.) 108,895 6,061,282 
Manulife Financial Corp. 679,515 12,512,977 
Methanex Corp. 21,095 1,156,391 
Metro, Inc. Class A (sub. vtg.) 87,328 3,161,460 
National Bank of Canada 118,910 5,664,579 
Nutrien Ltd. 209,511 11,363,043 
Onex Corp. (sub. vtg.) 29,149 1,690,803 
Open Text Corp. 97,718 3,756,421 
Pembina Pipeline Corp. 173,867 6,216,488 
Power Corp. of Canada (sub. vtg.) 118,008 2,707,745 
Power Financial Corp. 97,011 2,312,131 
PrairieSky Royalty Ltd. 69,612 1,003,365 
Restaurant Brands International, Inc. 81,880 5,344,172 
RioCan (REIT) 66,983 1,287,962 
Rogers Communications, Inc. Class B (non-vtg.) 127,642 6,426,404 
Royal Bank of Canada 485,457 38,689,441 
Saputo, Inc. 83,237 2,846,225 
Seven Generations Energy Ltd. (a) 90,938 712,733 
Shaw Communications, Inc. Class B 166,921 3,380,284 
Shopify, Inc. Class A (a) 30,775 7,482,986 
Smart (REIT) 42,017 1,062,578 
SNC-Lavalin Group, Inc. 58,584 1,460,555 
Sun Life Financial, Inc. 210,036 8,726,285 
Suncor Energy, Inc. 547,658 18,060,409 
Teck Resources Ltd. Class B (sub. vtg.) 176,485 4,173,356 
TELUS Corp. (a) 69,454 2,557,413 
The Stars Group, Inc. (a) 61,674 1,163,782 
The Toronto-Dominion Bank 620,809 35,412,573 
Thomson Reuters Corp. 69,742 4,309,875 
Tourmaline Oil Corp. 95,156 1,422,688 
TransCanada Corp. 309,845 14,788,004 
Turquoise Hill Resources Ltd. (a) 356,330 531,955 
Vermilion Energy, Inc. 50,826 1,297,871 
West Fraser Timber Co. Ltd. 17,615 906,850 
Wheaton Precious Metals Corp. 155,207 3,357,393 
WSP Global, Inc. 39,789 2,148,493 
TOTAL CANADA  478,635,838 
Cayman Islands - 5.0%   
3SBio, Inc. (d) 435,500 804,960 
51job, Inc. sponsored ADR (a) 8,753 808,252 
58.com, Inc. ADR (a) 30,897 2,218,096 
AAC Technology Holdings, Inc. 245,000 1,591,559 
Agile Property Holdings Ltd. 530,000 801,270 
Airtac International Group 41,000 546,631 
Alibaba Group Holding Ltd. sponsored ADR (a) 439,381 81,535,932 
Anta Sports Products Ltd. 351,000 2,474,289 
ASM Pacific Technology Ltd. 98,200 1,137,246 
Autohome, Inc. ADR Class A (a)(b) 19,743 2,280,119 
Baidu.com, Inc. sponsored ADR (a) 94,189 15,657,037 
Baozun, Inc. sponsored ADR (a)(b) 13,394 649,609 
BeiGene Ltd. ADR (a)(b) 10,895 1,353,486 
Car, Inc. (a) 188,000 152,177 
Chailease Holding Co. Ltd. 398,316 1,694,989 
Cheung Kong Property Holdings Ltd. 881,616 7,080,080 
China Conch Venture Holdings Ltd. 536,000 1,810,626 
China First Capital Group Ltd. (a) 1,166,000 490,491 
China Hongqiao Group Ltd. 675,000 555,846 
China Huishan Dairy Holdings Co. Ltd. (a)(c) 894,000 23,932 
China Investment Fund International Holdings Co. Ltd. (c) 288,000 848,052 
China Literature Ltd. (a)(b)(d) 84,000 381,195 
China Medical System Holdings Ltd. 499,000 442,083 
China Mengniu Dairy Co. Ltd. 951,000 3,515,577 
China Resources Cement Holdings Ltd. 788,000 788,522 
China Resources Land Ltd. 944,465 4,111,447 
China State Construction International Holdings Ltd. 677,750 702,390 
China Zhongwang Holdings Ltd. 504,000 274,975 
CIFI Holdings Group Co. Ltd. 1,162,000 771,724 
CK Hutchison Holdings Ltd. 923,116 9,696,201 
Country Garden Holdings Co. Ltd. 2,588,537 4,170,802 
Country Garden Services Holdings Co. Ltd. 393,000 726,405 
Ctrip.com International Ltd. ADR (a) 139,418 6,141,363 
Dali Foods Group Co. Ltd. (d) 597,500 425,001 
ENN Energy Holdings Ltd. 279,000 2,635,364 
Evergrande Real Estate Group Ltd. 900,000 2,885,351 
Fang Holdings Ltd. ADR (a) 54,396 82,682 
Fullshare Holdings Ltd. (b) 2,040,000 228,839 
Future Land Development Holding Ltd. 542,000 645,995 
GDS Holdings Ltd. ADR (a)(b) 19,979 781,778 
Geely Automobile Holdings Ltd. 1,694,000 3,398,883 
Genscript Biotech Corp. (a) 286,000 729,145 
Greentown China Holdings Ltd. 218,500 197,755 
Greentown Service Group Co. Ltd. 304,000 262,350 
Haitian International Holdings Ltd. 182,000 455,650 
Hengan International Group Co. Ltd. 239,000 2,106,727 
Huazhu Group Ltd. ADR (b) 45,349 1,922,798 
Hutchison China Meditech Ltd. sponsored ADR (a)(b) 16,500 496,320 
iQIYI, Inc. ADR (a)(b) 42,971 950,089 
JD.com, Inc. sponsored ADR (a) 249,441 7,550,579 
Jiayuan International Group Ltd. 291,496 130,424 
Kaisa Group Holdings Ltd. 835,000 354,445 
Kingboard Chemical Holdings Ltd. 226,000 736,067 
Kingboard Laminates Holdings Ltd. 315,500 330,992 
Kingdee International Software Group Co. Ltd. 756,000 925,148 
Kingsoft Corp. Ltd. 273,000 697,742 
KWG Property Holding Ltd. 449,000 525,421 
Lee & Man Paper Manufacturing Ltd. 441,000 357,531 
Lijun International Pharmaceutical Holding Ltd. 560,000 528,962 
Logan Property Holdings Co. Ltd. 476,000 758,464 
Longfor Properties Co. Ltd. 493,000 1,816,197 
Meitu, Inc. (a)(d) 497,500 182,643 
Meituan Dianping Class B 103,890 754,861 
Melco Crown Entertainment Ltd. sponsored ADR 82,745 2,076,900 
MGM China Holdings Ltd. 367,200 756,419 
Minth Group Ltd. 248,000 782,429 
Momo, Inc. ADR 50,843 1,783,064 
NetEase, Inc. ADR 26,420 7,517,283 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 48,856 4,663,794 
Nexteer Auto Group Ltd. 313,000 489,960 
Noah Holdings Ltd. sponsored ADR (a)(b) 8,664 470,802 
Pinduoduo, Inc. ADR (b) 62,991 1,400,290 
Sands China Ltd. 838,400 4,606,241 
Semiconductor Manufacturing International Corp. (a)(b) 987,000 1,056,790 
Shenzhou International Group Holdings Ltd. 260,600 3,498,009 
Shimao Property Holdings Ltd. 397,000 1,209,502 
Shui On Land Ltd. 908,000 221,074 
SINA Corp. (a) 21,890 1,377,757 
Sino Biopharmaceutical Ltd. 2,298,000 2,208,714 
SOHO China Ltd. 537,500 194,588 
Sunac China Holdings Ltd. 831,000 4,284,870 
Sunny Optical Technology Group Co. Ltd. 234,300 2,856,771 
TAL Education Group ADR (a) 122,161 4,699,534 
Tencent Holdings Ltd. 1,934,900 95,366,698 
Tencent Music Entertainment Group ADR (a)(b) 28,376 488,067 
Tingyi (Cayman Islands) Holding Corp. 652,000 1,072,150 
Towngas China Co. Ltd. 248,922 198,000 
Uni-President China Holdings Ltd. 388,000 355,119 
Vipshop Holdings Ltd. ADR (a)(b) 139,721 1,202,998 
Want Want China Holdings Ltd. 1,612,000 1,278,126 
Weibo Corp. sponsored ADR (a)(b) 17,232 1,180,392 
WH Group Ltd. (d) 3,041,000 3,605,101 
Wharf Real Estate Investment Co. Ltd. 421,000 3,225,334 
Wuxi Biologics (Cayman), Inc. (a)(d) 165,500 1,664,536 
Wynn Macau Ltd. 508,000 1,457,016 
Xiaomi Corp. Class B (d) 1,139,800 1,746,430 
Xinyi Solar Holdings Ltd. 1,001,254 570,519 
Yihai International Holding Ltd. 148,000 730,114 
Yuzhou Properties Co. 440,284 232,355 
YY, Inc. ADR (a) 15,961 1,350,460 
Zhen Ding Technology Holding Ltd. 160,230 572,954 
Zhongsheng Group Holdings Ltd. Class H 198,500 521,250 
ZTO Express (Cayman), Inc. sponsored ADR (b) 104,738 2,087,428 
TOTAL CAYMAN ISLANDS  355,151,404 
Chile - 0.2%   
Aguas Andinas SA 833,467 479,911 
Banco de Chile (a) 9,974,513 1,463,410 
Banco de Credito e Inversiones (a) 15,631 1,040,744 
Banco Santander Chile 21,652,883 1,521,744 
Cencosud SA 457,886 868,719 
Colbun SA (a) 2,507,517 560,517 
Compania Cervecerias Unidas SA 49,099 678,527 
Compania de Petroleos de Chile SA (COPEC) 127,802 1,603,893 
CorpBanca SA 52,714,873 470,877 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 51,823 542,699 
Empresas CMPC SA 411,257 1,384,296 
Enel Chile SA 8,722,515 878,948 
Enersis SA 9,488,817 1,665,061 
LATAM Airlines Group SA 97,296 964,915 
S.A.C.I. Falabella 243,746 1,799,359 
TOTAL CHILE  15,923,620 
China - 2.8%   
Agricultural Bank of China Ltd.:   
(A Shares) 458,200 255,807 
(H Shares) 9,535,000 4,399,946 
Air China Ltd. (H Shares) 742,000 884,369 
Aisino Co. Ltd. (A Shares) 20,200 76,422 
Aluminum Corp. of China Ltd.:   
(A shares) (a) 208,600 129,157 
(H Shares) (a) 1,098,000 429,694 
Angang Steel Co. Ltd. (H Shares) 326,000 219,001 
Anhui Conch Cement Co. Ltd. (H Shares) 450,500 2,747,862 
Anxin Trust Co. Ltd. (A Shares) 38,000 31,258 
AVIC Aviation Engine Corp. PLC (A Shares) 12,952 46,751 
AVIC Capital Co. Ltd. (A Shares) 60,100 51,579 
AviChina Industry & Technology Co. Ltd. (H Shares) 689,000 404,891 
Baic Motor Corp. Ltd. (H Shares) (d) 503,500 353,005 
Bank Communications Co. Ltd. (H Shares) 3,185,200 2,683,838 
Bank of Beijing Co. Ltd. (A Shares) 149,400 141,305 
Bank of China Ltd.:   
(A Shares) 150,000 86,638 
(H Shares) 26,566,024 12,665,324 
Bank of Hangzhou Co. Ltd. (A Shares) 176,031 232,098 
Bank of Jiangsu Co. Ltd. (A Shares) 75,500 82,283 
Bank of Nanjing Co. Ltd. (A Shares) 38,800 49,948 
Bank of Ningbo Co. Ltd. (A Shares) 18,500 62,904 
Bank of Shanghai Co. Ltd. (A Shares) 125,000 235,156 
Baoshan Iron & Steel Co. Ltd. (A Shares) 132,500 141,060 
BBMG Corp. (H Shares) 1,154,000 406,007 
Beijing Capital International Airport Co. Ltd. (H Shares) 582,000 517,841 
Beijing Tongrentang Co. Ltd. (A Shares) 34,900 161,522 
BOE Technology Group Co. Ltd. (A Shares) 280,900 150,149 
BYD Co. Ltd. (H Shares) (b) 221,500 1,507,763 
CGN Power Co. Ltd. (H Shares) (d) 3,136,000 827,493 
Changjiang Securities Co. Ltd. (A Shares) 47,800 55,927 
China Cinda Asset Management Co. Ltd. (H Shares) 2,819,000 751,034 
China CITIC Bank Corp. Ltd. (H Shares) 2,885,293 1,850,018 
China Coal Energy Co. Ltd. (H Shares) 688,000 303,447 
China Communications Construction Co. Ltd. (H Shares) 1,585,000 1,525,437 
China Communications Services Corp. Ltd. (H Shares) 826,000 665,450 
China Construction Bank Corp. (H Shares) 32,352,649 28,520,987 
China Eastern Airlines Corp. Ltd. (H Shares) 452,000 320,931 
China Everbright Bank Co. Ltd. (H Shares) 967,000 477,041 
China Fortune Land Development Co. Ltd. (A Shares) 11,300 52,717 
China Galaxy Securities Co. Ltd. (H Shares) 1,295,500 847,175 
China Gezhouba Group Co. Ltd. (A Shares) 76,500 77,353 
China Huarong Asset Management Co. Ltd. (d) 3,362,000 719,988 
China International Capital Corp. Ltd. (H Shares) (d) 467,600 1,003,771 
China International Marine Containers Group Co. Ltd.:   
(H Shares) 153,900 194,023 
rights (a)(c) 1,387 1,457 
China International Travel Service Corp. Ltd. (A Shares) 6,600 75,938 
China Life Insurance Co. Ltd. (H Shares) 2,574,000 7,314,305 
China Longyuan Power Grid Corp. Ltd. (H Shares) 1,032,000 710,381 
China Merchants Bank Co. Ltd. (H Shares) 1,418,691 7,021,111 
China Merchants Securities Co. Ltd. (A Shares) 21,400 55,701 
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares) 54,700 178,681 
China Minsheng Banking Corp. Ltd. (H Shares) 2,241,832 1,683,203 
China Molybdenum Co. Ltd. (H Shares) 1,287,000 483,970 
China National Building Materials Co. Ltd. (H Shares) 1,250,000 1,161,597 
China National Chemical Engineering Co. Ltd. (A Shares) 87,400 80,588 
China National Nuclear Power Co. Ltd. (A Shares) 198,800 175,041 
China Northern Rare Earth Group High-Tech Co. Ltd. 108,600 165,603 
China Oilfield Services Ltd. (H Shares) 528,000 565,368 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 948,800 3,888,425 
China Petroleum & Chemical Corp.:   
(A Shares) 425,000 358,431 
(H Shares) 8,265,800 6,353,999 
China Railway Construction Corp. Ltd. (H Shares) 857,000 1,011,603 
China Railway Group Ltd. (H Shares) 1,153,000 908,314 
China Railway Signal & Communications Corp. (H Shares) (d) 416,000 305,446 
China Reinsurance Group Corp. (H Shares) 1,524,000 310,830 
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares) 30,700 134,471 
China Shenhua Energy Co. Ltd.:   
(A Shares) 31,000 90,631 
(H Shares) 1,133,500 2,505,467 
China Shipbuilding Industry Group Power Co. Ltd. 13,400 47,353 
China Shipping Container Lines Co. Ltd. (H Shares) (a) 1,337,000 180,657 
China Shipping Development Co. Ltd. (H Shares) 364,000 235,249 
China Southern Airlines Ltd. (H Shares) 814,000 709,739 
China State Construction Engineering Corp. Ltd. (A Shares) 261,840 238,323 
China Telecom Corp. Ltd. (H Shares) 4,490,000 2,323,756 
China Tower Corp. Ltd. (H Shares) (d) 13,482,000 3,643,412 
China United Network Communications Ltd. (A Shares) 209,200 207,184 
China Vanke Co. Ltd. (H Shares) 467,800 1,809,827 
China Yangtze Power Co. Ltd. (A Shares) 68,700 172,084 
Chongqing Changan Automobile Co. Ltd. (B Shares) 277,800 145,543 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 796,000 464,726 
CITIC Securities Co. Ltd. (H Shares) 906,500 1,959,800 
COSCO SHIPPING Holdings Co. Ltd. (H Shares) (a) 926,500 431,079 
CRRC Corp. Ltd. (H Shares) 1,501,800 1,311,357 
Daqin Railway Co. Ltd. (A Shares) 72,100 91,210 
Datang International Power Generation Co. Ltd. (H Shares) 934,000 241,691 
Dong E-E-Jiao Co. Ltd. (A Shares) 18,800 122,237 
Dongfeng Motor Group Co. Ltd. (H Shares) 872,000 845,900 
Everbright Securities Co. Ltd. (A Shares) 26,300 48,579 
Fangda Carbon New Material Co. Ltd. (A Shares) 35,200 109,652 
Focus Media Information Technology Co. Ltd. (A Shares) 32,640 29,563 
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares) 8,200 108,702 
Founder Securities Co. Ltd. (A Shares) 52,800 54,722 
Future Land Holdings Co. Ltd. (A Shares) 23,100 135,892 
Fuyao Glass Industries Group Co. Ltd. (H Shares) (d) 198,000 695,352 
GD Power Development Co. Ltd. (A Shares) 451,300 181,595 
Gemdale Corp. (A Shares) 30,000 54,032 
GF Securities Co. Ltd. (H Shares) 517,400 699,118 
Great Wall Motor Co. Ltd. (H Shares) (b) 1,033,500 839,205 
Gree Electric Appliances, Inc. of Zhuhai (A Shares) 24,200 199,711 
Greenland Holdings Corp. Ltd. (A Shares) 45,500 50,466 
Guangzhou Automobile Group Co. Ltd. (H Shares) 1,053,526 1,132,116 
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. (A Shares) 19,000 128,333 
Guangzhou R&F Properties Co. Ltd. (H Shares) 326,000 647,445 
Guotai Junan Securities Co. Ltd. (H Shares) (d) 331,800 708,873 
Haitong Securities Co. Ltd.:   
rights (a)(c) 41,328 11,801 
(H Shares) 1,157,200 1,489,868 
Han's Laser Technology Industry Group Co. Ltd. (A Shares) 5,800 33,672 
Hangzhou Hikvision Digital Technology Co. Ltd. (A Shares) 50,900 246,984 
Henan Shuanghui Investment & Development Co. Ltd. (A Shares) 12,000 49,586 
Hengli Petrochemical Co. Ltd. (A Shares) 34,400 90,815 
Hengtong Optic-electric Co. Ltd. (A Shares) 23,400 69,767 
Huadian Power International Corp. Ltd. (H Shares) 526,000 224,620 
Huadong Medicine Co. Ltd. (A Shares) 6,300 32,646 
Huaneng Power International, Inc. (H Shares) 1,456,000 931,715 
Huaneng Renewables Corp. Ltd. (H Shares) 1,374,000 395,834 
Huatai Securities Co. Ltd.:   
(A Shares) 42,700 129,338 
(H Shares) (d) 543,000 1,021,655 
Huaxia Bank Co. Ltd. (A Shares) 236,200 281,270 
Huayu Automotive Systems Co. Ltd. (A Shares) 12,700 44,371 
iFlytek Co. Ltd. (A Shares) 8,700 41,737 
Industrial & Commercial Bank of China Ltd. (H Shares) 23,636,008 17,746,289 
Industrial Bank Co. Ltd. (A Shares) 145,200 429,462 
Industrial Securities Co. Ltd. (A Shares) 51,400 51,439 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 35,500 163,403 
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) 176,600 44,577 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 387,400 463,718 
Jiangsu Expressway Co. Ltd. (H Shares) 374,000 532,052 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 22,560 220,244 
Jiangsu Yanghe Brewery JSC Ltd. (A Shares) 9,100 158,979 
Jiangxi Copper Co. Ltd. (H Shares) 419,000 555,476 
Jinke Properties Group Co. Ltd. (A Shares) 152,000 171,750 
Kangmei Pharmaceutical Co. Ltd. (A Shares) 42,400 60,060 
Kweichow Moutai Co. Ltd. (A Shares) 6,000 867,719 
Legend Holdings Corp. (H Shares) (d) 122,800 334,206 
LONGi Green Energy Technology Co. Ltd. 11,830 39,873 
Luxshare Precision Industry Co. Ltd. (A Shares) 17,550 67,986 
Luzhou Laojiao Co. Ltd. (A Shares) 4,700 54,349 
Maanshan Iron & Steel Co. Ltd. (A Shares) 606,200 313,230 
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) 12,720 28,916 
Metallurgical Corp. China Ltd. (H Shares) 1,056,000 292,107 
Midea Group Co. Ltd. (A Shares) 37,800 294,098 
Muyuan Foodstuff Co. Ltd. (A Shares) 12,300 117,066 
NARI Technology Co. Ltd. (A Shares) 70,200 207,737 
New China Life Insurance Co. Ltd. (H Shares) 294,800 1,632,809 
Orient Securities Co. Ltd. (A Shares) 27,500 45,609 
People's Insurance Co. of China Group (H Shares) 2,720,000 1,112,992 
PetroChina Co. Ltd. (H Shares) 6,924,000 4,389,080 
PICC Property & Casualty Co. Ltd. (H Shares) 2,250,001 2,526,834 
Ping An Bank Co. Ltd. (A Shares) 135,300 278,238 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 1,827,500 22,121,276 
Poly Developments & Holdings (A Shares) 77,200 154,632 
Postal Savings Bank of China Co. Ltd. (H Shares) (d) 2,515,000 1,529,236 
Power Construction Corp. of China Ltd. (A Shares) 52,346 41,504 
Qingdao Haier Co. Ltd. (A Shares) 59,700 152,288 
Rongsheng Petrochemical Co. Ltd. (A Shares) 48,000 94,148 
SAIC Motor Corp. Ltd. (A Shares) 51,800 210,587 
Sanan Optoelectronics Co. Ltd. (A Shares) 15,300 29,669 
Sany Heavy Industry Co. Ltd. (A Shares) 38,500 70,027 
SDIC Power Holdings Co. Ltd. (A Shares) 46,600 55,976 
Shaanxi Coal Industry Co. Ltd. (A Shares) 40,100 53,706 
Shandong Buchang Pharmaceuticals Co. Ltd. (A Shares) 24,900 117,976 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 700,000 687,079 
Shanghai Construction Group Co. Ltd. (A Shares) 192,600 109,242 
Shanghai Electric Group Co. Ltd. (H Shares) 820,000 319,855 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 200,000 687,079 
Shanghai International Airport Co. Ltd. (A Shares) 6,272 65,775 
Shanghai International Port Group Co. Ltd. (A Shares) 48,000 57,515 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 334,210 505,994 
Shanghai Pharmaceuticals Holding Co. Ltd. (H Shares) 303,700 635,676 
Shanghai Pudong Development Bank Co. Ltd. (A Shares) 175,800 312,451 
Shanghaioriental Pearl Media Co. Ltd. 22,490 37,901 
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares) 11,900 101,474 
Shenergy Co. Ltd. (A Shares) 85,171 70,819 
Shenwan Hongyuan Group Co. Ltd. (A Shares) 322,100 245,823 
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) 40,200 47,453 
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares) 30,200 107,888 
Sichuan Chuantou Energy Co. Ltd. (A Shares) 59,800 78,669 
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares) 28,500 121,449 
Sinopec Engineering Group Co. Ltd. (H Shares) 371,500 358,960 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 874,000 395,510 
Sinopharm Group Co. Ltd. (H Shares) 389,600 1,529,635 
Sinotrans Ltd. (H Shares) 754,000 309,489 
Suning.com Co. Ltd. (A Shares) 26,000 48,719 
Suzhou Gold Mantis Consolidated Co. Ltd. 81,600 129,399 
Tasly Pharmaceutical Group Co. Ltd. (A Shares) 32,200 104,801 
TBEA Co. Ltd. (A Shares) 39,900 45,795 
TCL Corp. (A Shares) 339,900 181,182 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 193,000 267,673 
TravelSky Technology Ltd. (H Shares) 292,000 750,025 
Tsingtao Brewery Co. Ltd. (H Shares) 132,000 841,322 
Weichai Power Co. Ltd. (H Shares) 748,800 1,223,692 
Wuliangye Yibin Co. Ltd. (A Shares) 22,300 338,925 
XCMG Construction Machinery Co. Ltd. (A Shares) 180,500 122,747 
Xinjiang Goldwind Science & Technology Co. Ltd. (H Shares) (b) 390,364 425,953 
Yanzhou Coal Mining Co. Ltd. (H Shares) 634,000 675,637 
Yonghui Superstores Co. Ltd. (A Shares) 36,600 53,094 
Yunnan Baiyao Group Co. Ltd. (A Shares) 11,900 156,372 
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares) 9,200 157,502 
Zhaojin Mining Industry Co. Ltd. (H Shares) 340,500 292,981 
Zhejiang Century Huatong Group Co. Ltd. (A Shares) 14,560 42,265 
Zhejiang Chint Electric Co. Ltd. (A Shares) 11,400 42,909 
Zhejiang Dahua Technology Co. Ltd. (A Shares) 13,200 32,378 
Zhejiang Expressway Co. Ltd. (H Shares) 488,000 523,159 
Zhejiang Longsheng Group Co. Ltd. (A Shares) 69,200 208,682 
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) 83,500 58,767 
Zhengzhou Yutong Bus Co. Ltd. (A Shares) 14,600 31,000 
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(d) 74,600 269,118 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 173,600 880,746 
Zijin Mng Group Co. Ltd. (H Shares) 2,505,000 977,119 
ZTE Corp. (H Shares) 282,536 896,791 
TOTAL CHINA  203,382,905 
Colombia - 0.1%   
Bancolombia SA 74,733 910,687 
Cementos Argos SA 136,748 341,315 
Ecopetrol SA 1,649,260 1,522,629 
Grupo de Inversiones Suramerica SA 81,905 911,955 
Interconexion Electrica SA ESP 154,539 756,145 
Inversiones Argos SA 112,794 641,896 
TOTAL COLOMBIA  5,084,627 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 50,988 1,185,749 
Komercni Banka A/S 24,430 925,684 
MONETA Money Bank A/S (d) 160,897 515,324 
TOTAL CZECH REPUBLIC  2,626,757 
Denmark - 1.2%   
A.P. Moller - Maersk A/S:   
Series A 1,409 1,716,718 
Series B 2,099 2,705,809 
Carlsberg A/S Series B 36,089 4,661,647 
Christian Hansen Holding A/S 34,507 3,520,012 
Coloplast A/S Series B 41,088 4,433,304 
Danske Bank A/S 247,518 4,389,751 
DONG Energy A/S (d) 65,185 4,990,502 
DSV de Sammensluttede Vognmaend A/S 64,424 5,952,370 
Genmab A/S (a) 21,425 3,556,724 
H Lundbeck A/S 22,877 962,330 
ISS Holdings A/S 54,811 1,704,532 
Novo Nordisk A/S Series B 618,647 30,310,334 
Novozymes A/S Series B 76,171 3,549,757 
Pandora A/S 36,232 1,519,759 
Tryg A/S 38,444 1,174,753 
Vestas Wind Systems A/S 66,560 6,019,729 
William Demant Holding A/S (a) 32,764 1,033,673 
TOTAL DENMARK  82,201,704 
Egypt - 0.0%   
Commercial International Bank SAE (a) 354,498 1,586,673 
Commercial International Bank SAE sponsored GDR 77,461 338,892 
Eastern Tobacco Co. 246,485 261,128 
Elsewedy Electric Co. 266,250 241,749 
TOTAL EGYPT  2,428,442 
Finland - 0.8%   
Elisa Corp. (A Shares) 46,364 1,967,230 
Fortum Corp. 153,923 3,252,538 
Kone Oyj (B Shares) 113,489 6,219,353 
Metso Corp. 34,382 1,280,672 
Neste Oyj 129,843 4,287,403 
Nokia Corp. 1,918,613 10,081,565 
Nokian Tyres PLC 37,277 1,246,771 
Nordea Bank ABP (Stockholm Stock Exchange) 1,035,637 8,147,723 
Orion Oyj (B Shares) 36,307 1,206,591 
Sampo Oyj (A Shares) 150,224 6,878,471 
Stora Enso Oyj (R Shares) 201,215 2,497,180 
UPM-Kymmene Corp. 188,250 5,301,756 
Wartsila Corp. 145,524 2,320,984 
TOTAL FINLAND  54,688,237 
France - 6.8%   
Accor SA 62,304 2,624,699 
Aeroports de Paris 9,743 1,984,479 
Air Liquide SA 108,076 14,377,547 
Alstom SA 51,329 2,256,768 
Amundi SA (d) 19,617 1,409,255 
Arkema SA 22,781 2,336,910 
Atos Origin SA 31,596 3,252,506 
AXA SA (b) 654,160 17,444,182 
BIC SA 8,245 710,677 
bioMerieux SA 13,233 1,050,081 
BNP Paribas SA 382,947 20,385,449 
Bollore SA 310,308 1,474,304 
Bouygues SA 72,054 2,710,561 
Bureau Veritas SA 86,744 2,196,855 
Capgemini SA 55,121 6,683,143 
Carrefour SA 206,117 4,015,611 
Casino Guichard Perrachon SA (b) 17,132 701,357 
CNP Assurances 54,411 1,284,016 
Compagnie de St. Gobain 171,006 7,011,235 
Covivio 15,012 1,624,815 
Credit Agricole SA 394,071 5,405,538 
Danone SA 207,678 16,796,481 
Dassault Aviation SA 960 1,452,517 
Dassault Systemes SA 44,775 7,083,480 
Edenred SA 83,106 3,915,823 
EDF SA 175,627 2,529,265 
EDF SA (a) 23,260 334,975 
Eiffage SA 25,234 2,634,959 
ENGIE 617,260 9,142,070 
Essilor International SA 97,991 11,939,081 
Eurazeo SA 18,333 1,438,332 
Eutelsat Communications 55,597 1,003,334 
Faurecia SA 24,466 1,242,531 
Gecina SA 14,949 2,231,661 
Groupe Eurotunnel SA 153,024 2,462,915 
Hermes International SCA 10,700 7,527,102 
ICADE 11,107 949,270 
Iliad SA 8,656 880,567 
Imerys SA 12,685 675,522 
Ingenico SA 20,201 1,702,933 
Ipsen SA 12,738 1,487,271 
JCDecaux SA 26,267 860,263 
Kering SA 25,777 15,236,352 
Klepierre SA 67,145 2,385,062 
L'Oreal SA 61,462 16,896,160 
L'Oreal SA (a) 23,031 6,331,318 
Legrand SA 91,325 6,711,221 
LVMH Moet Hennessy - Louis Vuitton SA 94,057 36,928,401 
Michelin CGDE Series B 58,218 7,528,198 
Natixis SA 316,121 1,860,738 
Orange SA 674,925 10,548,102 
Pernod Ricard SA 71,700 12,493,048 
Peugeot Citroen SA 202,333 5,301,241 
Publicis Groupe SA 73,220 4,351,926 
Remy Cointreau SA 7,636 1,017,467 
Renault SA 65,728 4,483,682 
Rexel SA 104,259 1,400,904 
Safran SA 113,952 16,609,772 
Sanofi SA 383,286 33,441,436 
Sartorius Stedim Biotech 9,326 1,265,665 
Schneider Electric SA 186,544 15,788,326 
SCOR SE 53,715 2,190,572 
SEB SA 7,252 1,327,443 
Societe Generale Series A 263,596 8,359,025 
Sodexo SA 22,720 2,605,611 
Sodexo SA (a) 7,786 892,927 
SR Teleperformance SA 20,344 3,908,694 
Suez Environnement SA 123,850 1,739,850 
Thales SA 37,443 4,470,482 
Total SA 814,655 45,287,282 
Ubisoft Entertainment SA (a) 27,642 2,640,867 
Valeo SA 79,272 2,878,064 
Veolia Environnement SA 176,937 4,179,410 
VINCI SA 171,662 17,337,218 
Vivendi SA 356,286 10,341,501 
Wendel SA 8,766 1,213,262 
TOTAL FRANCE  489,181,567 
Germany - 5.5%   
adidas AG 61,183 15,721,496 
Allianz SE 142,562 34,459,254 
Axel Springer Verlag AG 15,981 905,177 
BASF AG 311,804 25,455,979 
Bayer AG 317,753 21,148,287 
Bayerische Motoren Werke AG (BMW) 112,170 9,548,969 
Beiersdorf AG 33,754 3,688,931 
Brenntag AG 56,298 3,034,693 
Commerzbank AG 348,639 3,132,960 
Continental AG 37,875 6,259,941 
Covestro AG (d) 66,551 3,638,876 
Daimler AG (Germany) 309,103 20,225,890 
Delivery Hero AG (a)(d) 29,469 1,358,124 
Deutsche Bank AG 674,432 5,574,228 
Deutsche Borse AG 64,428 8,609,021 
Deutsche Lufthansa AG 79,023 1,907,365 
Deutsche Post AG 335,213 11,652,149 
Deutsche Telekom AG 1,121,800 18,795,651 
Deutsche Wohnen AG (Bearer) 122,960 5,526,131 
Drillisch AG (b) 18,473 688,710 
E.ON AG 746,017 8,020,969 
Evonik Industries AG 53,904 1,605,784 
Fraport AG Frankfurt Airport Services Worldwide 13,178 1,091,388 
Fresenius Medical Care AG & Co. KGaA 70,260 5,921,756 
Fresenius Medical Care AG & Co. KGaA sponsored ADR 7,868 331,872 
Fresenius SE & Co. KGaA 142,248 8,069,804 
GEA Group AG 54,439 1,521,585 
Hannover Reuck SE 19,757 2,978,230 
HeidelbergCement Finance AG 51,162 4,131,598 
Henkel AG & Co. KGaA 32,890 3,133,757 
Hochtief AG 9,074 1,353,594 
Hugo Boss AG 21,375 1,490,236 
Infineon Technologies AG 386,745 9,168,017 
innogy SE (d) 43,630 2,025,437 
KION Group AG 24,209 1,657,408 
Lanxess AG 28,888 1,668,640 
Merck KGaA 45,312 4,821,986 
Metro Wholesale & Food Specialist AG 60,498 1,024,604 
MTU Aero Engines Holdings AG 17,931 4,217,363 
Muenchener Rueckversicherungs AG 50,509 12,633,149 
OSRAM Licht AG (b) 31,969 1,093,263 
ProSiebenSat.1 Media AG 78,432 1,239,896 
Puma AG 2,645 1,636,098 
RWE AG 179,307 4,579,291 
SAP SE 333,509 42,992,061 
Siemens AG 258,792 31,029,728 
Siemens Healthineers AG (d) 52,560 2,241,328 
Symrise AG 42,529 4,087,935 
Telefonica Deutschland Holding AG 250,260 812,883 
Thyssenkrupp AG 144,283 2,028,512 
TUI AG 21,520 240,596 
TUI AG (GB) 124,126 1,381,963 
Uniper SE 65,820 1,993,978 
United Internet AG 40,754 1,633,207 
Volkswagen AG 11,522 2,059,938 
Vonovia SE 167,373 8,348,156 
Wirecard AG (b) 40,010 5,999,816 
Zalando SE (a)(d) 36,382 1,711,406 
TOTAL GERMANY  393,309,064 
Greece - 0.1%   
Alpha Bank AE (a) 476,056 737,911 
Ff Group (a)(c) 7,090 19,085 
Greek Organization of Football Prognostics SA 72,149 776,854 
Hellenic Telecommunications Organization SA 81,208 1,127,606 
Jumbo SA 36,791 668,490 
Motor Oil (HELLAS) Corinth Refineries SA 19,546 498,524 
Titan Cement Co. SA (Reg.) 12,970 281,633 
TOTAL GREECE  4,110,103 
Hong Kong - 2.8%   
AIA Group Ltd. 4,103,600 42,018,548 
Bank of East Asia Ltd. 440,669 1,390,291 
Beijing Enterprises Holdings Ltd. 160,000 851,519 
BOC Hong Kong (Holdings) Ltd. 1,261,000 5,642,094 
BYD Electronic International Co. Ltd. 190,000 339,563 
China Agri-Industries Holdings Ltd. 486,000 156,738 
China Everbright International Ltd. 1,112,629 1,089,255 
China Everbright Ltd. 280,000 509,688 
China Jinmao Holdings Group Ltd. 1,712,000 1,108,627 
China Merchants Holdings International Co. Ltd. 397,250 802,116 
China Mobile Ltd. 2,080,000 19,846,116 
China Overseas Land and Investment Ltd. 1,300,000 4,863,731 
China Power International Development Ltd. (b) 1,391,000 370,588 
China Resources Beer Holdings Co. Ltd. 478,989 2,188,935 
China Resources Pharmaceutical Group Ltd. (d) 525,000 746,864 
China Resources Power Holdings Co. Ltd. 645,780 903,868 
China Taiping Insurance Group Ltd. 536,265 1,626,951 
China Travel International Investment HK Ltd. 566,000 130,591 
China Unicom Ltd. 2,128,000 2,526,731 
CITIC Pacific Ltd. 1,865,000 2,714,958 
CLP Holdings Ltd. 563,000 6,383,700 
CNOOC Ltd. 6,025,000 10,943,415 
CSPC Pharmaceutical Group Ltd. 1,624,000 3,130,084 
Far East Horizon Ltd. 640,000 710,585 
Fosun International Ltd. 851,500 1,319,886 
Galaxy Entertainment Group Ltd. 818,000 6,115,605 
Guangdong Investment Ltd. 974,000 1,825,133 
Hang Lung Group Ltd. 287,000 854,254 
Hang Lung Properties Ltd. 669,000 1,572,553 
Hang Seng Bank Ltd. 259,000 6,801,193 
Henderson Land Development Co. Ltd. 435,724 2,682,729 
Hong Kong & China Gas Co. Ltd. 3,189,359 7,613,826 
Hong Kong Exchanges and Clearing Ltd. 407,973 14,145,505 
Hua Hong Semiconductor Ltd. (d) 166,000 392,316 
Hysan Development Co. Ltd. 201,434 1,127,237 
Lenovo Group Ltd. 2,360,000 2,187,079 
Link (REIT) 715,230 8,342,283 
MMG Ltd. (a) 704,000 304,222 
MTR Corp. Ltd. 517,117 3,078,391 
New World Development Co. Ltd. 2,103,497 3,480,445 
PCCW Ltd. 1,389,627 837,872 
Power Assets Holdings Ltd. 472,000 3,291,148 
Shanghai Industrial Holdings Ltd. 128,000 300,877 
Shenzhen Investment Ltd. 1,034,000 411,238 
Sino Land Ltd. 1,178,225 2,072,647 
Sino-Ocean Group Holding Ltd. 951,913 427,128 
Sinotruk Hong Kong Ltd. 224,500 485,928 
SJM Holdings Ltd. 670,000 808,803 
Sun Art Retail Group Ltd. 770,917 673,157 
Sun Hung Kai Properties Ltd. 537,583 9,278,597 
Swire Pacific Ltd. (A Shares) 163,000 2,063,265 
Swire Properties Ltd. 386,000 1,567,166 
Techtronic Industries Co. Ltd. 477,500 3,451,235 
Wharf Holdings Ltd. 458,000 1,316,528 
Wheelock and Co. Ltd. 289,000 2,057,497 
Winteam Pharmaceutical Group Ltd. 720,000 408,423 
Yuexiu Property Co. Ltd. 2,224,000 515,970 
TOTAL HONG KONG  202,805,692 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 116,401 1,336,446 
OTP Bank PLC 78,732 3,489,324 
Richter Gedeon PLC 48,076 951,316 
TOTAL HUNGARY  5,777,086 
India - 2.3%   
Adani Ports & Special Economic Zone Ltd. (a) 167,839 946,590 
Ambuja Cements Ltd. 182,145 576,665 
Ashok Leyland Ltd. 421,648 526,402 
Asian Paints Ltd. 94,424 1,983,667 
Aurobindo Pharma Ltd. 105,498 1,240,658 
Avenue Supermarts Ltd. (a)(d) 40,801 758,937 
Axis Bank Ltd. (a) 649,205 7,148,088 
Bajaj Auto Ltd. 27,080 1,160,271 
Bajaj Finance Ltd. 60,710 2,698,682 
Bajaj Finserv Ltd. 12,173 1,314,435 
Bharat Forge Ltd. 88,739 601,706 
Bharat Petroleum Corp. Ltd. 245,290 1,337,795 
Bharti Airtel Ltd. 486,403 2,236,922 
Bharti Airtel Ltd. rights 5/17/19 (a) 129,372 186,311 
Bharti Infratel Ltd. 152,647 575,437 
Bosch Ltd. (a) 2,491 644,467 
Britannia Industries Ltd. 18,814 782,321 
Cadila Healthcare Ltd. 69,489 324,712 
Cipla Ltd. (a) 117,985 957,134 
Coal India Ltd. 406,562 1,471,917 
Container Corp. of India Ltd. 71,156 503,886 
Dabur India Ltd. 173,058 989,194 
Divi's Laboratories Ltd. 25,049 628,266 
Dr. Reddy's Laboratories Ltd. 39,081 1,642,726 
Eicher Motors Ltd. 4,499 1,315,735 
GAIL India Ltd. (a) 257,345 1,315,232 
Glenmark Pharmaceuticals Ltd. 68,277 625,842 
Godrej Consumer Products Ltd. 114,712 1,073,546 
Grasim Industries Ltd. (a) 115,977 1,500,689 
Havells India Ltd. (a) 82,472 917,296 
HCL Technologies Ltd. 179,026 3,041,774 
Hero Motocorp Ltd. 17,242 621,840 
Hindalco Industries Ltd. 372,638 1,102,446 
Hindustan Petroleum Corp. Ltd. 206,176 862,187 
Hindustan Unilever Ltd. 218,185 5,506,393 
Housing Development Finance Corp. Ltd. 554,167 15,874,207 
ICICI Bank Ltd. 820,989 4,778,763 
Indiabulls Housing Finance Ltd. 91,050 909,167 
Indian Oil Corp. Ltd. 613,621 1,392,491 
Infosys Ltd. 1,186,237 12,759,821 
InterGlobe Aviation Ltd. (d) 32,552 709,024 
ITC Ltd. 1,152,002 4,984,505 
JSW Steel Ltd. 308,407 1,365,418 
Larsen & Toubro Ltd. 166,274 3,219,504 
LIC Housing Finance Ltd. 95,678 682,413 
Lupin Ltd. (a) 75,925 950,657 
Mahindra & Mahindra Financial Services Ltd. 93,524 538,004 
Mahindra & Mahindra Ltd. 261,007 2,418,307 
Marico Ltd. 151,373 781,131 
Maruti Suzuki India Ltd. 36,320 3,476,440 
Motherson Sumi Systems Ltd. 317,971 668,841 
Nestle India Ltd. 7,953 1,245,278 
NTPC Ltd. 842,830 1,622,200 
Oil & Natural Gas Corp. Ltd. 852,513 2,071,090 
Page Industries Ltd. 1,931 640,234 
Petronet LNG Ltd. 197,916 685,276 
Pidilite Industries Ltd. 39,634 702,545 
Piramal Enterprises Ltd. 27,358 927,816 
Power Grid Corp. of India Ltd. 589,160 1,576,800 
Rec Ltd. 247,842 525,063 
Reliance Industries Ltd. 966,041 19,318,878 
Shree Cement Ltd. 2,850 809,799 
Shriram Transport Finance Co. Ltd. 48,554 774,492 
State Bank of India (a) 616,942 2,745,577 
Sun Pharmaceutical Industries Ltd. 278,193 1,828,004 
Tata Consultancy Services Ltd. 305,528 9,915,721 
Tata Motors Ltd. (a) 553,389 1,703,874 
Tata Power Co. Ltd. 403,575 392,872 
Tata Steel Ltd. 119,675 957,441 
Tech Mahindra Ltd. (a) 164,409 1,973,701 
Titan Co. Ltd. 104,000 1,729,998 
Ultratech Cemco Ltd. (a) 31,832 2,110,098 
United Spirits Ltd. (a) 97,937 789,014 
UPL Ltd. (a) 126,263 1,756,971 
Vedanta Ltd. 424,373 1,016,650 
Vodafone Idea Ltd. (a) 2,481,335 550,442 
Wipro Ltd. 493,930 2,119,765 
Yes Bank Ltd. 562,953 1,357,935 
Zee Entertainment Enterprises Ltd. 151,756 942,606 
TOTAL INDIA  167,419,002 
Indonesia - 0.5%   
PT Adaro Energy Tbk 4,314,600 395,127 
PT Astra International Tbk 6,987,800 3,739,086 
PT Bank Central Asia Tbk 3,339,500 6,737,588 
PT Bank Mandiri (Persero) Tbk 6,483,100 3,532,020 
PT Bank Negara Indonesia (Persero) Tbk 2,496,889 1,682,115 
PT Bank Rakyat Indonesia Tbk 18,917,100 5,801,244 
PT Bank Tabungan Negara Tbk 1,333,900 236,826 
PT Bumi Serpong Damai Tbk (a) 2,115,300 213,014 
PT Charoen Pokphand Indonesia Tbk 2,394,100 886,237 
PT Gudang Garam Tbk 156,800 929,521 
PT Hanjaya Mandala Sampoerna Tbk 3,087,900 758,432 
PT Indah Kiat Pulp & Paper Tbk 910,400 472,769 
PT Indocement Tunggal Prakarsa Tbk 613,500 947,158 
PT Indofood CBP Sukses Makmur Tbk 815,900 556,816 
PT Indofood Sukses Makmur Tbk 1,443,500 704,023 
PT Jasa Marga Tbk 636,453 272,447 
PT Kalbe Farma Tbk 7,159,100 776,197 
PT Pabrik Kertas Tjiwi Kimia Tbk 439,200 310,522 
PT Pakuwon Jati Tbk 5,371,500 269,517 
PT Perusahaan Gas Negara Tbk Series B 3,817,800 621,565 
PT Semen Gresik (Persero) Tbk 1,003,600 950,779 
PT Surya Citra Media Tbk 1,503,100 196,194 
PT Tambang Batubara Bukit Asam Tbk 915,900 254,524 
PT Telekomunikasi Indonesia Tbk Series B 17,010,500 4,529,680 
PT Tower Bersama Infrastructure Tbk 801,900 222,281 
PT Unilever Indonesia Tbk 512,900 1,637,681 
PT United Tractors Tbk 577,112 1,100,563 
TOTAL INDONESIA  38,733,926 
Ireland - 0.4%   
AIB Group PLC 290,000 1,345,942 
Bank Ireland Group PLC 320,117 2,042,956 
CRH PLC 268,724 9,040,064 
DCC PLC (United Kingdom) 32,703 2,920,310 
James Hardie Industries PLC CDI 145,867 1,982,542 
Kerry Group PLC Class A 53,793 6,021,356 
Kingspan Group PLC (Ireland) 50,249 2,642,123 
Paddy Power Betfair PLC (Ireland) 27,934 2,339,782 
Ryanair Holdings PLC (a) 4,983 66,712 
Ryanair Holdings PLC sponsored ADR (a) 9,339 725,080 
Smurfit Kappa Group PLC 74,004 2,168,865 
TOTAL IRELAND  31,295,732 
Isle of Man - 0.1%   
Gaming VC Holdings SA 183,061 1,558,309 
Genting Singapore Ltd. 2,046,800 1,482,316 
NEPI Rockcastle PLC 123,669 1,030,762 
TOTAL ISLE OF MAN  4,071,387 
Israel - 0.4%   
Azrieli Group 14,217 809,250 
Bank Hapoalim BM (Reg.) 347,351 2,553,519 
Bank Leumi le-Israel BM 500,147 3,421,009 
Bezeq The Israel Telecommunication Corp. Ltd. 637,184 435,657 
Check Point Software Technologies Ltd. (a) 43,444 5,246,297 
Elbit Systems Ltd. (Israel) 7,772 1,081,788 
Israel Chemicals Ltd. 239,556 1,268,373 
Mizrahi Tefahot Bank Ltd. 46,447 1,004,214 
NICE Systems Ltd. (a) 20,237 2,792,047 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 332,995 5,068,184 
Wix.com Ltd. (a) 14,914 2,000,862 
TOTAL ISRAEL  25,681,200 
Italy - 1.3%   
Assicurazioni Generali SpA 381,386 7,400,292 
Atlantia SpA 171,576 4,680,132 
Davide Campari-Milano SpA 193,239 1,947,381 
Enel SpA 2,739,284 17,345,595 
Eni SpA 851,996 14,518,986 
Intesa Sanpaolo SpA 5,087,779 13,330,065 
Leonardo SpA 137,383 1,586,344 
Mediobanca SpA 203,290 2,154,695 
Moncler SpA 59,035 2,421,433 
Pirelli & C. SpA (d) 134,662 982,948 
Poste Italiane SpA (d) 166,208 1,772,844 
Prysmian SpA 80,685 1,555,631 
Recordati SpA 39,767 1,605,250 
Snam Rete Gas SpA 758,057 3,857,524 
Telecom Italia SpA (a) 4,001,821 2,240,121 
Terna SpA 458,951 2,747,786 
UniCredit SpA 688,193 9,517,247 
TOTAL ITALY  89,664,274 
Japan - 15.7%   
ABC-MART, Inc. 10,800 670,910 
ACOM Co. Ltd. 139,200 487,347 
AEON Co. Ltd. 213,100 3,930,284 
AEON Financial Service Co. Ltd. 33,800 697,574 
AEON MALL Co. Ltd. 33,620 514,282 
Agc, Inc. 66,100 2,245,958 
Air Water, Inc. 49,000 744,270 
Aisin Seiki Co. Ltd. 53,000 2,048,252 
Ajinomoto Co., Inc. 145,200 2,336,469 
Alfresa Holdings Corp. 62,100 1,725,387 
All Nippon Airways Ltd. 37,000 1,291,404 
Alps Electric Co. Ltd. 71,300 1,502,232 
Amada Holdings Co. Ltd. 109,500 1,214,974 
Aozora Bank Ltd. 46,300 1,125,963 
Asahi Group Holdings 123,800 5,366,760 
ASAHI INTECC Co. Ltd. 32,400 1,631,707 
Asahi Kasei Corp. 435,800 4,471,650 
Asics Corp. 54,500 667,826 
Astellas Pharma, Inc. 649,300 8,794,038 
Bandai Namco Holdings, Inc. 70,300 3,344,764 
Bank of Kyoto Ltd. 17,300 745,455 
Benesse Holdings, Inc. 24,800 682,365 
Bridgestone Corp. 203,300 8,041,113 
Brother Industries Ltd. 75,800 1,485,447 
Calbee, Inc. 27,900 766,408 
Canon, Inc. 321,200 8,912,682 
Canon, Inc. sponsored ADR (b) 17,468 483,514 
Casio Computer Co. Ltd. 63,000 792,343 
Central Japan Railway Co. 48,700 10,446,488 
Chiba Bank Ltd. 201,400 1,050,437 
Chubu Electric Power Co., Inc. 210,000 3,046,456 
Chugai Pharmaceutical Co. Ltd. 78,000 4,929,485 
Chugoku Electric Power Co., Inc. 87,700 1,044,732 
Coca-Cola West Co. Ltd. 43,000 1,056,520 
Concordia Financial Group Ltd. 365,200 1,416,279 
Credit Saison Co. Ltd. 60,900 774,132 
CyberAgent, Inc. 34,800 1,383,940 
Dai Nippon Printing Co. Ltd. 79,600 1,881,474 
Dai-ichi Mutual Life Insurance Co. 371,600 5,320,724 
Daicel Chemical Industries Ltd. 87,900 980,042 
Daifuku Co. Ltd. 33,900 2,063,306 
Daiichi Sankyo Kabushiki Kaisha 193,000 9,496,234 
Daikin Industries Ltd. 84,700 10,783,960 
Dainippon Sumitomo Pharma Co. Ltd. 54,600 1,200,862 
Daito Trust Construction Co. Ltd. 24,900 3,322,757 
Daiwa House Industry Co. Ltd. 196,000 5,473,818 
Daiwa House REIT Investment Corp. 609 1,396,827 
Daiwa Securities Group, Inc. 561,900 2,615,552 
DeNA Co. Ltd. 34,400 535,787 
DENSO Corp. 145,400 6,334,451 
Dentsu, Inc. 75,200 3,061,466 
Disco Corp. 9,900 1,695,696 
East Japan Railway Co. 102,800 9,657,543 
Eisai Co. Ltd. 86,300 5,000,047 
Electric Power Development Co. Ltd. 45,900 1,063,082 
FamilyMart Co. Ltd. 84,800 2,259,405 
Fanuc Corp. 65,800 12,362,212 
Fast Retailing Co. Ltd. 19,800 11,421,949 
Fuji Electric Co. Ltd. 43,300 1,525,674 
Fujifilm Holdings Corp. 130,500 6,073,091 
Fujitsu Ltd. 67,400 4,922,115 
Fukuoka Financial Group, Inc. 57,600 1,331,995 
Hakuhodo DY Holdings, Inc. 76,700 1,289,637 
Hamamatsu Photonics K.K. 46,800 1,892,670 
Hankyu Hanshin Holdings, Inc. 75,000 2,794,111 
Hikari Tsushin, Inc. 6,800 1,253,844 
Hino Motors Ltd. 89,300 840,131 
Hirose Electric Co. Ltd. 10,516 1,214,020 
Hisamitsu Pharmaceutical Co., Inc. 20,400 862,552 
Hitachi Chemical Co. Ltd. 36,400 963,957 
Hitachi Construction Machinery Co. Ltd. 35,300 934,827 
Hitachi High-Technologies Corp. 23,000 1,022,039 
Hitachi Ltd. 329,200 10,901,915 
Hitachi Metals Ltd. 72,300 831,422 
Honda Motor Co. Ltd. 549,000 15,318,720 
Hoshizaki Corp. 17,200 1,111,720 
Hoya Corp. 129,700 9,099,201 
Hulic Co. Ltd. 112,100 964,063 
Idemitsu Kosan Co. Ltd. 70,684 2,287,498 
IHI Corp. 50,400 1,193,095 
Iida Group Holdings Co. Ltd. 48,000 809,659 
INPEX Corp. 351,400 3,410,058 
Isetan Mitsukoshi Holdings Ltd. 124,300 1,181,684 
Isuzu Motors Ltd. 182,300 2,611,066 
Itochu Corp. 454,300 8,156,560 
J. Front Retailing Co. Ltd. 77,700 945,137 
Japan Airlines Co. Ltd. 36,600 1,225,202 
Japan Airport Terminal Co. Ltd. 16,600 698,155 
Japan Exchange Group, Inc. 177,300 2,877,673 
Japan Post Bank Co. Ltd. 127,600 1,400,914 
Japan Post Holdings Co. Ltd. 525,000 5,858,207 
Japan Prime Realty Investment Corp. 259 1,034,651 
Japan Real Estate Investment Corp. 434 2,403,860 
Japan Retail Fund Investment Corp. 848 1,621,473 
Japan Tobacco, Inc. 368,700 8,519,781 
JFE Holdings, Inc. 160,600 2,746,470 
JGC Corp. 66,200 943,719 
JSR Corp. 62,900 953,142 
JTEKT Corp. 67,100 860,774 
JX Holdings, Inc. 1,098,310 5,331,085 
Kajima Corp. 160,900 2,376,054 
Kakaku.com, Inc. 44,900 919,000 
Kamigumi Co. Ltd. 35,500 845,155 
Kaneka Corp. 16,700 641,645 
Kansai Electric Power Co., Inc. 241,600 2,918,199 
Kansai Paint Co. Ltd. 57,600 1,093,622 
Kao Corp. 165,500 12,713,169 
Kawasaki Heavy Industries Ltd. 55,400 1,286,094 
KDDI Corp. 601,300 13,858,490 
Keihan Electric Railway Co., Ltd. 30,400 1,289,465 
Keihin Electric Express Railway Co. Ltd. 71,000 1,208,456 
Keio Corp. 36,500 2,195,341 
Keisei Electric Railway Co. 47,000 1,641,277 
Keyence Corp. 33,040 20,501,143 
Kikkoman Corp. 48,000 2,223,439 
Kintetsu Group Holdings Co. Ltd. 59,300 2,627,097 
Kirin Holdings Co. Ltd. 281,400 6,364,624 
Kobayashi Pharmaceutical Co. Ltd. 16,100 1,280,542 
Kobe Steel Ltd. 107,100 816,266 
Koito Manufacturing Co. Ltd. 34,400 2,044,329 
Komatsu Ltd. 315,000 8,136,579 
Konami Holdings Corp. 30,100 1,367,261 
Konica Minolta, Inc. 145,100 1,451,065 
Kose Corp. 10,100 1,890,435 
Kubota Corp. 336,400 5,082,465 
Kuraray Co. Ltd. 107,300 1,432,336 
Kurita Water Industries Ltd. 32,600 844,594 
Kyocera Corp. 109,100 7,041,869 
Kyowa Hakko Kirin Co., Ltd. 96,200 1,861,908 
Kyushu Electric Power Co., Inc. 138,300 1,337,126 
Kyushu Railway Co. 51,500 1,673,594 
Lawson, Inc. 19,500 908,524 
LINE Corp. (a)(b) 24,600 824,209 
Lion Corp. 78,200 1,606,191 
LIXIL Group Corp. 85,100 1,105,433 
M3, Inc. 139,500 2,465,779 
Makita Corp. 73,600 2,675,883 
Marubeni Corp. 545,700 3,895,023 
Marui Group Co. Ltd. 60,700 1,229,857 
Maruichi Steel Tube Ltd. 16,700 460,245 
Mazda Motor Corp. 188,000 2,220,154 
McDonald's Holdings Co. (Japan) Ltd. 19,800 915,391 
Mebuki Financial Group, Inc. 260,610 662,082 
Medipal Holdings Corp. 58,700 1,314,749 
Meiji Holdings Co. Ltd. 40,000 3,141,972 
Minebea Mitsumi, Inc. 127,400 2,253,045 
Misumi Group, Inc. 93,500 2,415,665 
Mitsubishi Chemical Holdings Corp. 447,500 3,170,001 
Mitsubishi Corp. 459,200 12,597,650 
Mitsubishi Electric Corp. 618,200 8,779,500 
Mitsubishi Estate Co. Ltd. 406,200 6,838,979 
Mitsubishi Gas Chemical Co., Inc. 54,200 807,684 
Mitsubishi Heavy Industries Ltd. 102,100 4,235,415 
Mitsubishi Materials Corp. 33,600 869,899 
Mitsubishi Motors Corp. of Japan 230,000 1,286,323 
Mitsubishi Tanabe Pharma Corp. 88,500 1,110,669 
Mitsubishi UFJ Financial Group, Inc. 3,942,500 19,560,817 
Mitsubishi UFJ Lease & Finance Co. Ltd. 123,000 622,757 
Mitsui & Co. Ltd. 562,400 9,057,369 
Mitsui Chemicals, Inc. 61,200 1,493,259 
Mitsui Fudosan Co. Ltd. 306,200 7,056,110 
Mitsui OSK Lines Ltd. 38,600 977,171 
Mizuho Financial Group, Inc. 8,012,460 12,513,281 
MonotaRO Co. Ltd. 43,500 1,000,467 
MS&AD Insurance Group Holdings, Inc. 156,890 4,842,119 
Murata Manufacturing Co. Ltd. 183,600 9,219,228 
Nabtesco Corp. 36,500 1,110,777 
Nagoya Railroad Co. Ltd. 60,100 1,623,960 
NEC Corp. 90,100 3,029,081 
New Hampshire Foods Ltd. 31,900 1,280,066 
Nexon Co. Ltd. (a) 147,300 2,110,425 
NGK Insulators Ltd. 96,100 1,418,272 
NGK Spark Plug Co. Ltd. 52,400 1,014,649 
Nidec Corp. 75,900 10,755,254 
Nikon Corp. 106,900 1,487,455 
Nintendo Co. Ltd. 38,700 13,328,890 
Nippon Building Fund, Inc. 466 2,999,434 
Nippon Electric Glass Co. Ltd. 28,400 777,593 
Nippon Express Co. Ltd. 25,500 1,396,382 
Nippon Paint Holdings Co. Ltd. (b) 48,500 1,835,159 
Nippon Prologis REIT, Inc. 543 1,165,016 
Nippon Steel & Sumitomo Metal Corp. 269,917 4,798,874 
Nippon Telegraph & Telephone Corp. 215,500 8,966,617 
Nippon Yusen KK 53,100 903,789 
Nissan Chemical Corp. 41,900 1,854,365 
Nissan Motor Co. Ltd. 764,400 6,136,637 
Nisshin Seifun Group, Inc. 72,245 1,675,848 
Nissin Food Holdings Co. Ltd. 22,700 1,493,703 
Nitori Holdings Co. Ltd. 28,000 3,330,491 
Nitto Denko Corp. 57,100 3,070,416 
NKSJ Holdings, Inc. 105,000 3,922,124 
Nomura Holdings, Inc. 1,180,600 4,470,010 
Nomura Real Estate Holdings, Inc. 41,200 871,009 
Nomura Real Estate Master Fund, Inc. 1,261 1,846,305 
Nomura Research Institute Ltd. 37,240 1,815,281 
NSK Ltd. 115,100 1,188,249 
NTT Data Corp. 207,600 2,411,548 
NTT DOCOMO, Inc. 426,100 9,253,011 
NTT DOCOMO, Inc. sponsored ADR 26,497 578,032 
Obayashi Corp. 231,400 2,262,172 
OBIC Co. Ltd. 21,300 2,458,979 
Odakyu Electric Railway Co. Ltd. 103,500 2,428,736 
Oji Holdings Corp. 285,700 1,708,122 
Olympus Corp. 397,300 4,436,835 
OMRON Corp. 66,200 3,535,976 
Ono Pharmaceutical Co. Ltd. 145,600 2,718,032 
Oracle Corp. Japan 12,700 867,606 
Oriental Land Co. Ltd. 67,800 7,468,073 
ORIX Corp. 446,400 6,297,568 
Osaka Gas Co. Ltd. 136,800 2,523,668 
Otsuka Corp. 34,000 1,333,812 
Otsuka Holdings Co. Ltd. 138,500 4,934,750 
Pan Pacific International Hold 38,900 2,503,820 
Panasonic Corp. 764,000 7,035,065 
Park24 Co. Ltd. 39,000 816,796 
Persol Holdings Co., Ltd. 57,100 1,068,238 
Pigeon Corp. 38,500 1,629,584 
Pola Orbis Holdings, Inc. 31,300 983,437 
Rakuten, Inc. 297,300 3,296,068 
Recruit Holdings Co. Ltd. 375,100 11,209,730 
Renesas Electronics Corp. (a) 265,600 1,413,895 
Resona Holdings, Inc. 726,200 3,062,042 
Ricoh Co. Ltd. 218,200 2,199,727 
Rinnai Corp. 10,800 725,203 
ROHM Co. Ltd. 31,100 2,275,371 
Ryohin Keikaku Co. Ltd. 7,900 1,499,223 
Sankyo Co. Ltd. (Gunma) 13,000 511,738 
Santen Pharmaceutical Co. Ltd. 135,300 2,057,527 
SBI Holdings, Inc. Japan 78,580 1,673,956 
Secom Co. Ltd. 71,400 5,985,306 
Sega Sammy Holdings, Inc. 52,800 665,481 
Seibu Holdings, Inc. 75,900 1,231,216 
Seiko Epson Corp. 92,300 1,474,049 
Sekisui Chemical Co. Ltd. 141,900 2,268,719 
Sekisui House Ltd. 222,000 3,571,291 
Seven & i Holdings Co. Ltd. 259,000 8,963,293 
Seven Bank Ltd. 242,600 657,706 
SG Holdings Co. Ltd. 31,500 841,263 
Sharp Corp. 74,400 825,516 
Shimadzu Corp. 73,600 1,964,957 
Shimamura Co. Ltd. 7,800 580,475 
SHIMANO, Inc. 25,800 3,772,898 
SHIMIZU Corp. 199,100 1,696,179 
Shin-Etsu Chemical Co. Ltd. 123,200 11,670,062 
Shinsei Bank Ltd. 51,700 715,664 
Shionogi & Co. Ltd. 96,000 5,581,005 
Shiseido Co. Ltd. 128,800 10,080,151 
Shizuoka Bank Ltd. 145,400 1,109,475 
Showa Denko K.K. 45,500 1,537,838 
SMC Corp. 19,500 8,062,929 
SoftBank Corp. 280,000 29,688,788 
SoftBank Corp. 569,600 6,708,696 
Sohgo Security Services Co., Ltd. 23,300 1,036,415 
Sony Corp. 432,000 21,759,023 
Sony Financial Holdings, Inc. 55,800 1,135,586 
Stanley Electric Co. Ltd. 41,800 1,129,476 
Subaru Corp. 209,900 5,126,199 
Sumco Corp. 76,700 1,005,270 
Sumitomo Chemical Co. Ltd. 491,400 2,435,054 
Sumitomo Corp. 385,700 5,503,570 
Sumitomo Electric Industries Ltd. 255,500 3,381,972 
Sumitomo Heavy Industries Ltd. 35,600 1,254,365 
Sumitomo Metal Mining Co. Ltd. 76,500 2,389,187 
Sumitomo Mitsui Financial Group, Inc. 446,400 16,224,959 
Sumitomo Mitsui Trust Holdings, Inc. 112,725 3,933,107 
Sumitomo Realty & Development Co. Ltd. 123,500 4,548,862 
Sumitomo Rubber Industries Ltd. 57,500 705,620 
Sundrug Co. Ltd. 23,800 635,835 
Suntory Beverage & Food Ltd. 45,700 2,010,234 
Suzuken Co. Ltd. 23,410 1,344,980 
Suzuki Motor Corp. 117,600 5,347,134 
Sysmex Corp. 57,700 3,290,187 
T&D Holdings, Inc. 184,900 1,986,021 
Taiheiyo Cement Corp. 42,900 1,374,864 
Taisei Corp. 74,500 3,260,357 
Taisho Pharmaceutical Holdings Co. Ltd. 12,700 1,172,010 
Taiyo Nippon Sanso Corp. 40,300 668,923 
Takashimaya Co. Ltd. 48,200 540,435 
Takeda Pharmaceutical Co. Ltd. 504,315 18,610,094 
TDK Corp. 44,700 3,888,352 
Teijin Ltd. 55,900 956,967 
Terumo Corp. 208,100 6,252,621 
THK Co. Ltd. 45,100 1,176,539 
Tobu Railway Co. Ltd. 62,800 1,770,205 
Toho Co. Ltd. 40,200 1,679,887 
Toho Gas Co. Ltd. 25,000 1,027,874 
Tohoku Electric Power Co., Inc. 138,900 1,586,075 
Tokio Marine Holdings, Inc. 219,000 11,013,403 
Tokyo Century Corp. 13,100 602,110 
Tokyo Electric Power Co., Inc. (a) 475,200 2,678,986 
Tokyo Electron Ltd. 53,300 8,442,735 
Tokyo Gas Co. Ltd. 135,900 3,448,892 
Tokyu Corp. 175,100 2,848,254 
Tokyu Fudosan Holdings Corp. 207,800 1,167,762 
Toppan Printing Co. Ltd. 78,300 1,265,930 
Toray Industries, Inc. 478,900 3,277,149 
Toshiba Corp. 221,400 7,353,831 
Tosoh Corp. 84,500 1,354,033 
Toto Ltd. 47,100 1,983,024 
Toyo Seikan Group Holdings Ltd. 50,000 996,005 
Toyo Suisan Kaisha Ltd. 28,800 1,094,914 
Toyoda Gosei Co. Ltd. 23,200 481,099 
Toyota Industries Corp. 47,300 2,675,075 
Toyota Motor Corp. 767,972 47,545,496 
Toyota Tsusho Corp. 75,300 2,487,580 
Trend Micro, Inc. 39,600 1,976,534 
Tsuruha Holdings, Inc. 11,900 1,011,652 
Unicharm Corp. 138,700 4,543,438 
United Urban Investment Corp. 963 1,537,065 
USS Co. Ltd. 71,100 1,356,960 
Welcia Holdings Co. Ltd. 14,700 577,337 
West Japan Railway Co. 54,800 4,064,434 
Yahoo! Japan Corp. 932,900 2,478,912 
Yakult Honsha Co. Ltd. 41,700 2,826,294 
Yamada Denki Co. Ltd. 207,400 981,191 
Yamaguchi Financial Group, Inc. 93,000 684,591 
Yamaha Corp. 44,800 2,312,492 
Yamaha Motor Co. Ltd. 92,600 1,901,960 
Yamato Holdings Co. Ltd. 108,400 2,347,637 
Yamazaki Baking Co. Ltd. 41,300 612,484 
Yaskawa Electric Corp. 83,600 3,073,226 
Yokogawa Electric Corp. 81,500 1,695,920 
Yokohama Rubber Co. Ltd. 38,800 729,013 
Zozo, Inc. 69,400 1,224,211 
TOTAL JAPAN  1,124,417,463 
Korea (South) - 3.1%   
AMOREPACIFIC Corp. 10,463 1,869,661 
AMOREPACIFIC Group, Inc. 8,769 566,515 
BGF Retail Co. Ltd. 2,524 473,788 
BS Financial Group, Inc. 84,720 510,208 
Celltrion Healthcare Co. Ltd. 17,166 1,114,896 
Celltrion Pharm, Inc. 5,250 267,910 
Celltrion, Inc. (a) 28,448 5,181,206 
Cheil Industries, Inc. 25,247 2,223,192 
Cheil Worldwide, Inc. 24,843 543,169 
CJ CheilJedang Corp. 2,691 728,228 
CJ Corp. 4,333 444,836 
CJ O Shopping Co. Ltd. 4,207 791,155 
Daelim Industrial Co. 9,380 780,048 
Daewoo Engineering & Construction Co. Ltd. (a) 49,122 212,691 
Daewoo Shipbuilding & Marine Engineering Co. Ltd. (a) 11,828 295,189 
Db Insurance Co. Ltd. (a) 16,652 978,511 
DGB Financial Group Co. Ltd. 53,333 385,790 
Doosan Bobcat, Inc. 13,451 369,206 
E-Mart Co. Ltd. 7,757 1,146,214 
EUSU Holdings Co. Ltd. (a) 6 46 
Fila Korea Ltd. 17,346 1,227,919 
GS Engineering & Construction Corp. 21,018 733,096 
GS Holdings Corp. 16,934 756,495 
GS Retail Co. Ltd. 7,314 245,997 
Hana Financial Group, Inc. 103,182 3,262,083 
Hanjin Shipping Co. Ltd. (a)(c) 12 0 
Hankook Tire Co. Ltd. 23,963 818,317 
Hanmi Pharm Co. Ltd. 2,168 809,268 
Hanmi Science Co. Ltd. 5,235 338,203 
Hanon Systems 65,202 702,988 
Hanwha Chemical Corp. 35,086 620,932 
Hanwha Corp. 14,827 377,041 
Hanwha Life Insurance Co. Ltd. 87,126 298,651 
HDC Hyundai Development Co. 10,979 439,534 
HLB, Inc. (a) 10,419 750,985 
Hotel Shilla Co. 10,687 1,055,837 
Hyundai Department Store Co. Ltd. 4,235 369,286 
Hyundai Engineering & Construction Co. Ltd. 26,853 1,211,143 
Hyundai Fire & Marine Insurance Co. Ltd. 21,445 704,694 
Hyundai Glovis Co. Ltd. 6,268 858,881 
Hyundai Heavy Industries Co. Ltd. (a) 12,828 1,372,055 
Hyundai Mobis 23,217 4,637,376 
Hyundai Motor Co. 47,146 5,609,678 
Hyundai Robotics Co. Ltd. 3,132 920,219 
Hyundai Steel Co. 25,520 1,015,091 
Industrial Bank of Korea 81,480 990,491 
ING Life Insurance Korea Ltd. (d) 9,227 282,198 
Kakao Corp. 16,405 1,691,223 
Kangwon Land, Inc. 39,137 1,143,167 
KB Financial Group, Inc. 135,978 5,388,239 
KCC Corp. 1,794 547,134 
Kia Motors Corp. 89,913 3,495,299 
Korea Aerospace Industries Ltd. 24,629 740,556 
Korea Electric Power Corp. 83,893 2,038,150 
Korea Express Co. Ltd. (a) 2,778 375,886 
Korea Gas Corp. (a) 8,260 327,488 
Korea Investment Holdings Co. Ltd. 14,293 839,891 
Korea Zinc Co. Ltd. 2,762 1,073,706 
Korean Air Lines Co. Ltd. 16,664 474,576 
KT Corp. 6,424 150,891 
KT&G Corp. 40,235 3,525,717 
Kumho Petro Chemical Co. Ltd. (a) 5,785 456,236 
LG Chemical Ltd. 15,734 4,879,661 
LG Corp. 33,825 2,121,309 
LG Display Co. Ltd. 78,142 1,333,513 
LG Electronics, Inc. 38,198 2,487,443 
LG Household & Health Care Ltd. 3,175 3,878,704 
LG Innotek Co. Ltd. 4,465 469,895 
LG Telecom Ltd. 62,120 763,152 
Lotte Chemical Corp. 6,095 1,405,922 
Lotte Confectionery Co. Ltd. (a) 9,375 395,051 
Lotte Shopping Co. Ltd. 3,284 502,188 
Medy-Tox, Inc. 1,523 731,531 
Mirae Asset Daewoo Co. Ltd. 129,534 868,004 
NAVER Corp. 48,298 4,958,386 
NCSOFT Corp. 6,142 2,775,485 
Netmarble Corp. (d) 8,173 895,231 
Oci Co. Ltd. 5,564 445,021 
Orion Corp./Republic of Korea 7,469 621,770 
Ottogi Corp. 360 224,534 
Pearl Abyss Corp. (a) 1,722 257,854 
POSCO 26,991 5,928,901 
POSCO Chemtech Co. Ltd. 7,506 369,493 
Posco International Corp. 14,945 234,958 
S-Oil Corp. 15,402 1,219,976 
S1 Corp. 5,845 492,101 
Samsung Biologics Co. Ltd. (a)(d) 5,500 1,606,515 
Samsung Card Co. Ltd. 7,471 238,120 
Samsung Electro-Mechanics Co. Ltd. 18,646 1,738,036 
Samsung Electronics Co. Ltd. 1,626,969 64,085,814 
Samsung Engineering Co. Ltd. (a) 53,676 786,227 
Samsung Fire & Marine Insurance Co. Ltd. 10,841 2,831,302 
Samsung Heavy Industries Co. Ltd. (a) 144,262 1,018,749 
Samsung Life Insurance Co. Ltd. 23,088 1,683,981 
Samsung SDI Co. Ltd. 18,929 3,845,936 
Samsung SDS Co. Ltd. 12,354 2,303,088 
Samsung Securities Co. Ltd. 21,519 659,060 
Shinhan Financial Group Co. Ltd. 145,428 5,515,984 
Shinsegae Co. Ltd. 2,290 668,895 
SillaJen, Inc. (a) 20,422 1,147,412 
SK C&C Co. Ltd. 11,125 2,451,493 
SK Energy Co. Ltd. 22,314 3,498,514 
SK Hynix, Inc. 197,495 13,403,755 
SK Telecom Co. Ltd. 6,654 1,416,372 
STX Pan Ocean Co. Ltd. (Korea) (a) 68,952 282,262 
ViroMed Co. Ltd. (a) 4,504 1,007,200 
Woongjin Coway Co. Ltd. 16,505 1,244,954 
Woori Financial Group, Inc. (a) 165,748 1,972,156 
Woori Investment & Securities Co. Ltd. 42,184 498,303 
Yuhan Corp. 3,120 658,036 
TOTAL KOREA (SOUTH)  224,381,323 
Luxembourg - 0.2%   
ArcelorMittal SA (Netherlands) 231,973 5,028,777 
Aroundtown SA 257,420 2,086,307 
Eurofins Scientific SA (b) 3,805 1,741,217 
Millicom International Cellular SA (depository receipt) 22,255 1,301,739 
Reinet Investments SCA 48,665 819,770 
RTL Group SA 15,911 894,073 
SES SA (France) (depositary receipt) 120,259 2,046,167 
Tenaris SA 154,893 2,147,101 
TOTAL LUXEMBOURG  16,065,151 
Malaysia - 0.5%   
AirAsia Group BHD 458,800 302,944 
Alliance Bank Malaysia Bhd 362,900 356,361 
AMMB Holdings Bhd 564,600 610,415 
Axiata Group Bhd 917,190 880,698 
British American Tobacco (Malaysia) Bhd 44,500 375,201 
Bumiputra-Commerce Holdings Bhd 1,617,170 2,061,310 
Dialog Group Bhd 1,195,122 930,776 
DiGi.com Bhd 1,018,000 1,132,616 
Fraser & Neave Holdings BHD 44,700 377,320 
Gamuda Bhd 582,075 492,747 
Genting Bhd 721,200 1,228,020 
Genting Malaysia Bhd 972,400 747,910 
Genting Plantations Bhd 163,800 416,780 
Hap Seng Consolidated Bhd 228,400 545,796 
Hartalega Holdings Bhd 485,900 591,142 
Hong Leong Bank Bhd 211,100 1,020,142 
Hong Leong Credit Bhd 81,900 380,728 
IHH Healthcare Bhd 801,900 1,078,380 
IJM Corp. Bhd 865,100 489,620 
IOI Corp. Bhd 629,700 686,890 
IOI Properties Group Bhd 524,000 173,632 
Kuala Lumpur Kepong Bhd 139,300 833,543 
Malayan Banking Bhd 1,265,465 2,831,189 
Malaysia Airports Holdings Bhd 403,698 745,003 
Maxis Bhd 970,600 1,258,294 
MISC Bhd 370,100 617,654 
Nestle (Malaysia) BHD 17,000 600,726 
Petronas Chemicals Group Bhd 792,300 1,724,683 
Petronas Dagangan Bhd 63,400 370,785 
Petronas Gas Bhd 219,400 938,201 
PPB Group Bhd 187,120 849,044 
Press Metal Bhd 424,800 488,040 
Public Bank Bhd 997,100 5,426,231 
QL Resources Bhd 216,300 356,794 
RHB Capital Bhd 329,157 474,489 
Sime Darby Bhd 833,007 467,427 
Sime Darby Plantation Bhd 813,207 1,014,911 
Sime Darby Property Bhd 979,607 262,998 
SP Setia Bhd 500,955 275,044 
Telekom Malaysia Bhd 312,874 220,211 
Tenaga Nasional Bhd 1,098,925 3,263,949 
Top Glove Corp. Bhd 439,000 517,095 
Westports Holdings Bhd 306,100 281,335 
YTL Corp. Bhd 1,033,812 282,551 
TOTAL MALAYSIA  38,979,625 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 1,853,400 395,181 
Mexico - 0.7%   
Alfa SA de CV Series A 980,200 990,657 
Alsea S.A.B. de CV 180,500 403,507 
America Movil S.A.B. de CV Series L 11,503,146 8,567,706 
Banco Santander Mexico SA 630,750 1,059,360 
CEMEX S.A.B. de CV unit (a) 5,310,740 2,456,789 
Coca-Cola FEMSA S.A.B. de CV unit 184,100 1,174,359 
El Puerto de Liverpool S.A.B. de CV Class C 60,155 389,404 
Embotelladoras Arca S.A.B. de CV 143,462 814,334 
Fibra Uno Administracion SA de CV 1,191,200 1,775,702 
Fomento Economico Mexicano S.A.B. de CV unit 656,400 6,403,083 
Gruma S.A.B. de CV Series B 73,135 731,012 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 117,300 1,192,692 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 68,105 1,121,746 
Grupo Bimbo S.A.B. de CV Series A 524,200 1,167,424 
Grupo Carso SA de CV Series A1 140,500 544,799 
Grupo Financiero Banorte S.A.B. de CV Series O 883,700 5,585,777 
Grupo Financiero Inbursa S.A.B. de CV Series O 839,200 1,284,624 
Grupo Mexico SA de CV Series B 1,205,023 3,533,501 
Grupo Televisa SA de CV 808,800 1,645,096 
Industrias Penoles SA de CV 42,165 483,910 
Infraestructura Energetica Nova S.A.B. de CV 180,600 789,457 
Kimberly-Clark de Mexico SA de CV Series A 522,900 903,875 
Megacable Holdings S.A.B. de CV unit 94,700 417,159 
Mexichem S.A.B. de CV 338,316 785,393 
Promotora y Operadora de Infraestructura S.A.B. de CV 77,745 790,829 
Wal-Mart de Mexico SA de CV Series V 1,791,000 5,263,104 
TOTAL MEXICO  50,275,299 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 784,000 767,530 
HKT Trust/HKT Ltd. unit 1,242,640 1,926,181 
TOTAL MULTI-NATIONAL  2,693,711 
Netherlands - 3.2%   
ABN AMRO Group NV GDR (d) 139,811 3,288,348 
Adyen BV (d) 3,562 2,898,873 
AEGON NV 651,006 3,398,348 
AerCap Holdings NV (a) 42,055 2,087,610 
Airbus Group NV 198,079 27,122,888 
Akzo Nobel NV 77,976 6,620,562 
ASML Holding NV (Netherlands) 138,217 28,763,188 
CNH Industrial NV 350,209 3,797,536 
EXOR NV 38,796 2,582,967 
Ferrari NV 41,813 5,662,868 
Fiat Chrysler Automobiles NV 372,247 5,734,113 
Heineken Holding NV 37,506 3,809,142 
Heineken NV (Bearer) 86,874 9,377,421 
ING Groep NV (Certificaten Van Aandelen) 1,324,487 16,900,492 
Koninklijke Ahold Delhaize NV 405,283 9,767,966 
Koninklijke DSM NV 62,257 7,120,434 
Koninklijke KPN NV 1,161,429 3,569,484 
Koninklijke Philips Electronics NV 316,461 13,590,016 
NN Group NV 100,143 4,360,278 
NXP Semiconductors NV 117,052 12,363,032 
QIAGEN NV (Germany) (a) 81,538 3,148,728 
Randstad NV 39,273 2,242,955 
STMicroelectronics NV (France) 233,907 4,295,637 
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit 47,618 8,184,829 
Unilever NV (Certificaten Van Aandelen) (Bearer) 517,403 31,305,253 
Vopak NV 22,534 1,004,647 
Wolters Kluwer NV 92,368 6,441,845 
X5 Retail Group NV GDR 39,614 1,202,703 
TOTAL NETHERLANDS  230,642,163 
New Zealand - 0.2%   
Auckland International Airport Ltd. 319,209 1,699,202 
Fisher & Paykel Healthcare Corp. 189,937 2,005,640 
Fletcher Building Ltd. 280,028 965,078 
Meridian Energy Ltd. 426,073 1,155,371 
Ryman Healthcare Group Ltd. 130,671 1,060,393 
Spark New Zealand Ltd. 612,998 1,502,576 
The a2 Milk Co. Ltd. (a) 241,791 2,708,224 
TOTAL NEW ZEALAND  11,096,484 
Norway - 0.5%   
Aker Bp ASA 35,598 1,173,885 
DNB ASA 328,065 6,298,961 
Equinor ASA 380,678 8,491,673 
Equinor ASA sponsored ADR 9,395 208,475 
Gjensidige Forsikring ASA 64,944 1,261,250 
Marine Harvest ASA 153,133 3,317,383 
Norsk Hydro ASA 442,247 1,904,796 
Orkla ASA 265,519 2,081,693 
Schibsted ASA (B Shares) 32,215 770,700 
Telenor ASA 253,978 5,098,724 
Yara International ASA 62,600 2,823,275 
TOTAL NORWAY  33,430,815 
Pakistan - 0.0%   
Habib Bank Ltd. 164,100 147,864 
Lucky Cement Ltd. 15,411 42,361 
MCB Bank Ltd. 121,500 163,350 
Oil & Gas Development Co. Ltd. 186,600 185,913 
TOTAL PAKISTAN  539,488 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 480,473 2,635,159 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 57,649 934,490 
Philippines - 0.3%   
Aboitiz Equity Ventures, Inc. 665,060 714,400 
Aboitiz Power Corp. 541,200 394,189 
Alliance Global Group, Inc. 1,226,500 354,491 
Ayala Corp. 80,415 1,404,466 
Ayala Land, Inc. 2,436,500 2,304,225 
Bank of the Philippine Islands (BPI) 266,023 436,091 
BDO Unibank, Inc. 653,588 1,692,055 
DMCI Holdings, Inc. 1,494,300 322,187 
Globe Telecom, Inc. 9,790 336,673 
GT Capital Holdings, Inc. 31,342 523,780 
International Container Terminal Services, Inc. 299,930 733,021 
JG Summit Holdings, Inc. 904,530 1,153,381 
Jollibee Food Corp. 144,710 851,597 
Manila Electric Co. 74,020 550,574 
Megaworld Corp. 3,918,600 423,960 
Metro Pacific Investments Corp. 4,981,700 439,845 
Metropolitan Bank & Trust Co. 512,825 735,650 
Philippine Long Distance Telephone Co. 29,955 711,487 
Robinsons Land Corp. 783,742 370,975 
Security Bank Corp. 64,610 224,687 
SM Investments Corp. 81,260 1,491,441 
SM Prime Holdings, Inc. 3,561,375 2,851,990 
Universal Robina Corp. 299,180 880,315 
TOTAL PHILIPPINES  19,901,480 
Poland - 0.3%   
Alior Bank SA (a) 28,596 438,879 
Bank Handlowy w Warszawie SA 8,748 142,387 
Bank Millennium SA (a) 216,545 546,540 
Bank Polska Kasa Opieki SA 62,329 1,854,481 
Bank Zachodni WBK SA 13,549 1,406,859 
BRE Bank SA 4,500 521,661 
CD Projekt RED SA 22,299 1,253,989 
Cyfrowy Polsat SA (a) 87,828 609,047 
Dino Polska SA (a)(d) 14,869 494,148 
Grupa Lotos SA 28,814 627,032 
Jastrzebska Spolka Weglowa SA (a) 14,632 222,268 
KGHM Polska Miedz SA (Bearer) (a) 46,092 1,240,514 
LPP SA 433 970,481 
NG2 SA 9,127 495,346 
Polish Oil & Gas Co. SA 584,286 886,799 
Polska Grupa Energetyczna SA (a) 284,263 708,156 
Polski Koncern Naftowy Orlen SA 98,464 2,523,020 
Powszechna Kasa Oszczednosci Bank SA 288,711 2,964,587 
Powszechny Zaklad Ubezpieczen SA 200,652 2,205,284 
Telekomunikacja Polska SA (a) 242,754 313,555 
TOTAL POLAND  20,425,033 
Portugal - 0.1%   
Banco Espirito Santo SA (Reg.) (a)(c) 319,729 4 
Energias de Portugal SA 914,050 3,464,146 
Galp Energia SGPS SA Class B 180,311 3,027,485 
Jeronimo Martins SGPS SA 81,837 1,332,767 
TOTAL PORTUGAL  7,824,402 
Qatar - 0.2%   
Barwa Real Estate Co. (a) 58,012 553,072 
Ezdan Holding Group (a) 261,836 770,243 
Industries Qatar QSC (a) 59,775 1,986,617 
Masraf al Rayan (a) 123,564 1,231,992 
Qatar Electricity & Water Co. (a) 15,391 705,938 
Qatar Insurance Co. SAQ (a) 55,451 583,791 
Qatar Islamic Bank (a) 38,399 1,758,185 
Qatar National Bank SAQ (a) 153,384 8,257,016 
Qatar Telecom (Qtel) Q.S.C. (a) 30,609 546,477 
The Commercial Bank of Qatar (a) 66,423 928,636 
TOTAL QATAR  17,321,967 
Russia - 0.9%   
Alrosa Co. Ltd. 874,990 1,275,210 
Gazprom OAO 1,530,494 3,889,336 
Gazprom OAO sponsored ADR (Reg. S) 1,057,398 5,280,646 
Inter Rao Ues JSC 12,422,000 753,125 
Lukoil PJSC 76,712 6,546,411 
Lukoil PJSC sponsored ADR 89,585 7,595,016 
Magnit OJSC GDR (Reg. S) 119,110 1,698,509 
Magnitogorsk Iron & Steel Works PJSC 878,000 600,214 
MMC Norilsk Nickel PJSC 11,902 2,640,093 
MMC Norilsk Nickel PJSC sponsored ADR 98,554 2,187,899 
Mobile TeleSystems OJSC sponsored ADR 162,753 1,282,494 
Moscow Exchange MICEX-RTS OAO 462,400 651,159 
NOVATEK OAO GDR (Reg. S) 29,948 5,770,980 
Novolipetsk Steel OJSC 393,380 1,041,003 
PhosAgro OJSC GDR (Reg. S) 35,331 444,817 
Polyus PJSC 8,381 652,981 
Rosneft Oil Co. OJSC 171,996 1,140,677 
Rosneft Oil Co. OJSC GDR (Reg. S) 217,412 1,446,225 
RusHydro PJSC rights (a) 299,402 0 
Sberbank of Russia 3,675,773 12,877,537 
Severstal PAO 27,699 447,768 
Severstal PAO GDR (Reg. S) 39,925 646,386 
Surgutneftegas OJSC 89,200 33,890 
Surgutneftegas OJSC sponsored ADR 201,700 754,761 
Tatneft PAO 269,480 3,157,175 
Tatneft PAO sponsored ADR 42,623 2,994,692 
VTB Bank OJSC (a) 1,260,278,000 691,965 
TOTAL RUSSIA  66,500,969 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 869,200 1,917,212 
BOC Aviation Ltd. Class A (d) 72,200 621,240 
CapitaCommercial Trust (REIT) 1,042,050 1,486,344 
CapitaLand Ltd. 929,700 2,412,941 
CapitaMall Trust 1,023,600 1,821,272 
City Developments Ltd. 134,500 884,075 
ComfortDelgro Corp. Ltd. 800,000 1,582,237 
DBS Group Holdings Ltd. 605,541 12,577,408 
Jardine Cycle & Carriage Ltd. 37,293 973,934 
Keppel Corp. Ltd. 475,300 2,365,841 
Oversea-Chinese Banking Corp. Ltd. 1,081,232 9,619,077 
Sembcorp Industries Ltd. 308,900 604,128 
Singapore Airlines Ltd. 182,500 1,298,875 
Singapore Airport Terminal Service Ltd. 218,800 841,353 
Singapore Exchange Ltd. 300,400 1,629,992 
Singapore Press Holdings Ltd. 531,100 980,120 
Singapore Technologies Engineering Ltd. 519,900 1,513,715 
Singapore Telecommunications Ltd. 2,737,500 6,380,321 
Suntec (REIT) 938,900 1,277,086 
United Overseas Bank Ltd. 453,989 9,289,401 
UOL Group Ltd. 172,921 963,709 
Venture Corp. Ltd. 89,500 1,116,694 
Wilmar International Ltd. 634,100 1,697,025 
Yangzijiang Shipbuilding Holdings Ltd. 799,800 923,231 
TOTAL SINGAPORE  64,777,231 
South Africa - 1.6%   
Anglo American Platinum Ltd. 16,712 843,451 
AngloGold Ashanti Ltd. 139,170 1,655,826 
Aspen Pharmacare Holdings Ltd. 136,837 984,308 
Barclays Africa Group Ltd. 253,781 2,914,091 
Bidcorp Ltd. 119,273 2,518,616 
Bidvest Group Ltd. 112,903 1,713,474 
Capitec Bank Holdings Ltd. 13,047 1,219,140 
Clicks Group Ltd. 92,624 1,266,887 
Discovery Ltd. 119,784 1,206,297 
Exxaro Resources Ltd. 81,905 935,166 
FirstRand Ltd. 1,150,967 5,463,975 
Fortress (REIT) Ltd.:   
Class A 311,745 419,946 
Class B 379,698 288,257 
Foschini Ltd. 76,163 983,703 
Gold Fields Ltd. 269,838 1,016,943 
Growthpoint Properties Ltd. 966,248 1,680,549 
Hyprop Investments Ltd. 75,290 368,424 
Investec Ltd. 110,386 704,912 
Kumba Iron Ore Ltd. 19,504 584,438 
Liberty Holdings Ltd. 35,604 257,603 
Life Healthcare Group Holdings Ltd. 413,623 753,225 
MMI Holdings Ltd. (a) 255,346 318,625 
Mondi Ltd. 39,321 866,656 
Mr Price Group Ltd. 92,212 1,396,427 
MTN Group Ltd. 582,105 4,206,375 
MultiChoice Group Ltd. (a) 150,381 1,350,328 
Naspers Ltd. Class N 148,759 38,268,333 
Nedbank Group Ltd. 140,128 2,606,253 
Netcare Ltd. 389,404 652,772 
Oceana Group Ltd. 16,042 78,500 
Old Mutual Ltd. 1,719,810 2,763,959 
Pick 'n Pay Stores Ltd. 123,279 597,823 
PSG Group Ltd. 49,157 910,908 
Rand Merchant Insurance Holdings Ltd. 210,853 510,440 
Redefine Properties Ltd. 1,757,866 1,210,415 
Remgro Ltd. 189,356 2,569,973 
Resilient Property Income Fund Ltd. 98,440 390,732 
RMB Holdings Ltd. 238,461 1,391,592 
Sanlam Ltd. 623,663 3,335,213 
Sappi Ltd. 175,406 836,014 
Sasol Ltd. 191,662 6,358,663 
Shoprite Holdings Ltd. 145,468 1,752,531 
Spar Group Ltd. 76,263 1,034,255 
Standard Bank Group Ltd. 444,634 6,185,401 
Telkom SA Ltd. 99,625 590,507 
Tiger Brands Ltd. 62,015 1,077,080 
Truworths International Ltd. 154,287 815,278 
Vodacom Group Ltd. 208,451 1,680,431 
Woolworths Holdings Ltd. 376,968 1,257,263 
TOTAL SOUTH AFRICA  112,791,978 
Spain - 2.0%   
ACS Actividades de Construccion y Servicios SA 88,445 4,067,250 
Aena Sme SA (d) 23,506 4,359,342 
Amadeus IT Holding SA Class A 149,582 11,898,331 
Banco Bilbao Vizcaya Argentaria SA 2,287,578 13,910,418 
Banco de Sabadell SA 1,856,789 2,157,547 
Banco Santander SA (Spain) 5,526,289 27,963,566 
Banco Santander SA (Spain) sponsored ADR (b) 13,477 67,250 
Bankia SA 480,473 1,328,385 
Bankinter SA 222,299 1,774,735 
CaixaBank SA 1,251,012 3,987,594 
Enagas SA 74,115 2,111,436 
Endesa SA 104,327 2,598,862 
Ferrovial SA 169,589 4,177,034 
Gas Natural SDG SA 114,388 3,248,495 
Grifols SA 103,690 2,877,230 
Iberdrola SA 2,095,916 19,046,412 
Inditex SA 372,172 11,258,036 
MAPFRE SA (Reg.) 353,641 1,061,022 
Red Electrica Corporacion SA 153,649 3,188,810 
Repsol SA 472,099 8,010,904 
Siemens Gamesa Renewable Energy SA 76,747 1,376,410 
Telefonica SA 1,591,380 13,267,889 
TOTAL SPAIN  143,736,958 
Sweden - 1.7%   
Alfa Laval AB 96,516 2,240,297 
ASSA ABLOY AB (B Shares) 343,088 7,334,387 
Atlas Copco AB:   
(A Shares) 227,888 7,113,366 
(B Shares) 133,178 3,793,200 
Boliden AB 90,123 2,682,054 
Electrolux AB (B Shares) 79,683 1,952,897 
Epiroc AB:   
Class A 225,044 2,326,415 
Class B 134,340 1,329,397 
Essity AB Class B 206,990 6,137,443 
H&M Hennes & Mauritz AB (B Shares) 300,285 5,239,657 
Hexagon AB (B Shares) 89,233 4,874,998 
Husqvarna AB (B Shares) 133,758 1,221,263 
ICA Gruppen AB 25,765 932,293 
Industrivarden AB (C Shares) 55,503 1,249,076 
Investor AB (B Shares) 150,047 7,155,999 
Kinnevik AB (B Shares) 86,862 2,531,277 
Lundbergfoeretagen AB 22,979 785,930 
Lundin Petroleum AB 66,421 2,163,081 
Sandvik AB 385,417 7,137,300 
Securitas AB (B Shares) 104,134 1,820,943 
Skandinaviska Enskilda Banken AB (A Shares) 558,561 5,332,919 
Skanska AB (B Shares) 111,192 1,936,318 
SKF AB (B Shares) 136,304 2,530,072 
Svenska Handelsbanken AB (A Shares) 521,345 5,694,702 
Swedbank AB (A Shares) 309,546 5,057,741 
Swedish Match Co. AB 57,920 2,824,156 
Tele2 AB (B Shares) 163,454 2,183,671 
Telefonaktiebolaget LM Ericsson (B Shares) 1,045,341 10,340,699 
TeliaSonera AB 958,038 4,081,748 
Volvo AB (B Shares) 532,053 8,526,912 
TOTAL SWEDEN  118,530,211 
Switzerland - 5.9%   
ABB Ltd. (Reg.) 626,499 12,886,283 
Adecco SA (Reg.) 58,565 3,363,486 
Alcon, Inc. (a) 150,788 8,683,684 
Baloise Holdings AG 18,134 3,107,313 
Barry Callebaut AG 697 1,276,414 
Clariant AG (Reg.) 65,477 1,345,589 
Coca-Cola HBC AG 67,390 2,408,697 
Compagnie Financiere Richemont SA Series A 178,856 13,074,793 
Credit Suisse Group AG 840,253 11,174,438 
Credit Suisse Group AG sponsored ADR 32,062 426,425 
Dufry AG 10,645 1,039,897 
Ems-Chemie Holding AG 2,671 1,617,358 
Galenica AG 17,012 2,223,856 
Geberit AG (Reg.) 12,750 5,346,754 
Givaudan SA 3,123 8,088,323 
Julius Baer Group Ltd. 78,559 3,794,785 
Kuehne & Nagel International AG 17,569 2,552,716 
Lafargeholcim Ltd. (Reg.) 165,527 8,509,058 
Lindt & Spruengli AG 37 2,806,909 
Lindt & Spruengli AG (participation certificate) 344 2,287,256 
Lonza Group AG 25,618 7,911,589 
Nestle SA (Reg. S) 1,035,626 99,707,643 
Novartis AG 736,669 60,362,731 
Pargesa Holding SA 12,855 1,011,797 
Partners Group Holding AG 5,961 4,490,567 
Roche Holding AG (participation certificate) 238,482 62,926,663 
Schindler Holding AG:   
(participation certificate) 14,071 3,035,287 
(Reg.) 6,889 1,463,055 
SGS SA (Reg.) 1,898 5,007,970 
Sika AG 43,572 6,670,820 
Sonova Holding AG Class B 19,211 3,874,440 
Straumann Holding AG 3,619 2,921,625 
Swatch Group AG (Bearer) 10,141 3,097,188 
Swatch Group AG (Bearer) (Reg.) 23,669 1,389,083 
Swiss Life Holding AG 11,245 5,287,285 
Swiss Prime Site AG 23,996 1,926,368 
Swiss Re Ltd. 103,329 9,944,003 
Swisscom AG 9,020 4,202,163 
Temenos Group AG 21,160 3,517,841 
UBS Group AG 1,259,164 16,886,477 
UBS Group AG 51,869 697,119 
Zurich Insurance Group Ltd. 51,329 16,366,644 
TOTAL SWITZERLAND  418,712,392 
Taiwan - 2.9%   
Acer, Inc. 1,047,060 709,854 
Advantech Co. Ltd. 119,465 966,483 
ASE Technology Holding Co. Ltd. 1,173,943 2,726,896 
Asia Cement Corp. 740,785 1,000,834 
ASUSTeK Computer, Inc. 233,422 1,782,655 
AU Optronics Corp. 2,889,000 1,033,185 
Catcher Technology Co. Ltd. 220,000 1,740,664 
Cathay Financial Holding Co. Ltd. 2,830,227 4,093,947 
Chang Hwa Commercial Bank 1,767,188 1,057,957 
Cheng Shin Rubber Industry Co. Ltd. 633,513 845,654 
Chicony Electronics Co. Ltd. 211,870 521,756 
China Airlines Ltd. 1,020,835 323,739 
China Development Finance Holding Corp. 4,872,819 1,568,978 
China Life Insurance Co. Ltd. 837,327 696,373 
China Steel Corp. 4,262,421 3,441,441 
Chinatrust Financial Holding Co. Ltd. 6,086,255 4,165,565 
Chunghwa Picture Tubes, Ltd. (a) 551 3 
Chunghwa Telecom Co. Ltd. 1,276,400 4,597,724 
Compal Electronics, Inc. 1,312,394 847,268 
Delta Electronics, Inc. 719,383 3,782,918 
E.SUN Financial Holdings Co. Ltd. 3,396,772 2,786,492 
ECLAT Textile Co. Ltd. 61,420 874,532 
EVA Airways Corp. 859,636 421,445 
Evergreen Marine Corp. (Taiwan) 861,728 377,853 
Far Eastern Textile Ltd. 1,076,032 1,173,461 
Far EasTone Telecommunications Co. Ltd. 532,000 1,304,951 
Feng Tay Enterprise Co. Ltd. 103,760 841,107 
First Financial Holding Co. Ltd. 3,175,720 2,266,022 
Formosa Chemicals & Fibre Corp. 1,195,620 4,294,668 
Formosa Petrochemical Corp. 416,000 1,541,389 
Formosa Plastics Corp. 1,516,640 5,496,851 
Formosa Taffeta Co. Ltd. 247,000 297,740 
Foxconn Technology Co. Ltd. 361,811 810,217 
Fubon Financial Holding Co. Ltd. 2,297,487 3,390,247 
Giant Manufacturing Co. Ltd. 111,042 846,236 
GlobalWafers Co. Ltd. 74,000 807,003 
Highwealth Construction Corp. 398,400 637,528 
HIWIN Technologies Corp. 79,908 758,948 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 4,472,593 12,577,449 
Hotai Motor Co. Ltd. 93,000 1,405,443 
Hua Nan Financial Holdings Co. Ltd. 2,322,552 1,518,204 
Innolux Corp. 2,992,819 958,802 
Inventec Corp. 885,209 710,413 
Largan Precision Co. Ltd. 34,000 5,116,174 
Lite-On Technology Corp. 712,053 1,003,492 
MediaTek, Inc. 519,989 4,972,389 
Mega Financial Holding Co. Ltd. 3,545,833 3,402,173 
Micro-Star International Co. Ltd. 240,000 664,811 
Nan Ya Plastics Corp. 1,743,980 4,407,638 
Nanya Technology Corp. 359,000 759,776 
Nien Made Enterprise Co. Ltd. 56,000 438,548 
Novatek Microelectronics Corp. 189,000 1,232,396 
Pegatron Corp. 618,652 1,167,155 
Phison Electronics Corp. 44,199 415,501 
Pou Chen Corp. 746,240 906,780 
Powertech Technology, Inc. 258,700 644,615 
President Chain Store Corp. 189,000 1,761,439 
Quanta Computer, Inc. 983,000 1,883,166 
Realtek Semiconductor Corp. 156,744 1,060,109 
Ruentex Development Co. Ltd. 198,948 272,972 
Ruentex Industries Ltd. 110,690 264,349 
Shin Kong Financial Holding Co. Ltd. 3,437,268 972,161 
Sinopac Holdings Co. 3,357,250 1,292,838 
Standard Foods Corp. 225,981 400,012 
Synnex Technology International Corp. 422,920 526,905 
TaiMed Biologics, Inc. (a) 55,000 279,432 
Taishin Financial Holdings Co. Ltd. 3,073,934 1,392,631 
Taiwan Business Bank 1,186,547 489,563 
Taiwan Cement Corp. 1,518,221 2,063,468 
Taiwan Cooperative Financial Holding Co. Ltd. 2,730,119 1,811,127 
Taiwan High Speed Rail Corp. 670,000 815,222 
Taiwan Mobile Co. Ltd. 518,400 1,895,644 
Taiwan Semiconductor Manufacturing Co. Ltd. 8,330,000 69,936,685 
Tatung Co. Ltd. (a) 589,000 453,634 
The Shanghai Commercial & Savings Bank Ltd. 1,029,000 1,658,281 
Unified-President Enterprises Corp. 1,653,620 3,927,762 
United Microelectronics Corp. 3,773,000 1,645,156 
Vanguard International Semiconductor Corp. 278,000 616,238 
Walsin Technology Corp. 109,000 666,656 
Win Semiconductors Corp. 107,000 716,750 
Winbond Electronics Corp. 1,075,000 558,338 
Wistron Corp. 1,105,291 915,651 
WPG Holding Co. Ltd. 445,378 587,313 
Yageo Corp. 84,292 830,591 
Yuanta Financial Holding Co. Ltd. 3,484,085 2,018,158 
TOTAL TAIWAN  208,844,594 
Thailand - 0.6%   
Advanced Info Service PCL (For. Reg.) 338,500 2,015,039 
Airports of Thailand PCL (For. Reg.) 1,413,100 3,032,736 
Bangkok Bank PCL (For. Reg.) 77,300 506,171 
Bangkok Dusit Medical Services PCL (For. Reg.) 1,255,800 1,003,302 
Bangkok Expressway and Metro PCL 3,050,300 1,041,694 
Banpu PCL (For. Reg.) 767,200 394,206 
Berli Jucker PCL (For. Reg) 361,300 582,970 
BTS Group Holdings PCL 1,906,000 704,654 
Bumrungrad Hospital PCL (For. Reg.) 123,600 685,430 
C.P. ALL PCL (For. Reg.) 1,644,100 3,992,097 
Central Pattana PCL (For. Reg.) 447,100 1,057,603 
Charoen Pokphand Foods PCL (For. Reg.) 1,134,340 968,458 
Delta Electronics PCL (For. Reg.) 92,700 217,101 
Electricity Generating PCL (For. Reg.) 47,000 435,874 
Energy Absolute PCL 464,000 810,464 
Glow Energy PCL (For. Reg.) 182,500 523,185 
Gulf Energy Development PCL 194,800 637,788 
Home Product Center PCL (For. Reg.) 1,332,947 655,668 
Indorama Ventures PCL (For. Reg.) 546,700 783,630 
IRPC PCL (For. Reg.) 3,548,400 628,134 
Kasikornbank PCL 65,200 390,168 
Kasikornbank PCL (For. Reg.) 548,100 3,271,342 
Krung Thai Bank PCL (For. Reg.) 1,119,675 663,017 
Land & House PCL (For. Reg.) 958,900 336,482 
Minor International PCL (For. Reg.) 905,270 1,063,605 
Muangthai Leasing PCL 237,000 382,408 
PTT Exploration and Production PCL (For. Reg.) 458,851 1,919,217 
PTT Global Chemical PCL (For. Reg.) 741,686 1,597,585 
PTT PCL (For. Reg.) 3,534,800 5,398,966 
Robinsons Department Store PCL (For. Reg.) 221,500 404,241 
Siam Cement PCL (For. Reg.) 125,650 1,818,761 
Siam Commercial Bank PCL (For. Reg.) 640,900 2,630,466 
Thai Oil PCL (For. Reg.) 380,200 824,903 
Thai Union Frozen Products PCL (For. Reg.) 576,600 341,435 
TMB PCL (For. Reg.) 3,467,300 219,439 
True Corp. PCL (For. Reg.) 3,587,735 578,894 
TOTAL THAILAND  42,517,133 
Turkey - 0.1%   
Akbank TAS 941,876 966,043 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 78,387 260,375 
Arcelik A/S (a) 64,562 198,439 
Aselsan A/S 124,284 425,743 
Bim Birlesik Magazalar A/S JSC 68,353 951,368 
Eregli Demir ve Celik Fabrikalari T.A.S. 469,739 721,113 
Ford Otomotiv Sanayi A/S 18,668 164,877 
Haci Omer Sabanci Holding A/S 310,495 400,679 
Koc Holding A/S 222,693 604,607 
Petkim Petrokimya Holding A/S 258,296 193,498 
TAV Havalimanlari Holding A/S 59,615 252,771 
Tupras Turkiye Petrol Rafinerileri A/S 41,854 864,871 
Turk Hava Yollari AO (a) 207,704 498,122 
Turk Sise ve Cam Fabrikalari A/S 197,616 202,024 
Turkcell Iletisim Hizmet A/S 358,943 751,946 
Turkiye Garanti Bankasi A/S 764,748 1,047,108 
Turkiye Halk Bankasi A/S 249,828 244,934 
Turkiye Is Bankasi A/S Series C 623,971 560,506 
TOTAL TURKEY  9,309,024 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 697,228 1,875,397 
Aldar Properties PJSC 1,316,689 638,064 
Damac Properties Dubai Co. PJSC 554,289 187,120 
DP World Ltd. 52,607 1,052,140 
Dubai Islamic Bank Pakistan Ltd. (a) 502,602 707,418 
Emaar Development PJSC (a) 234,311 250,058 
Emaar Malls Group PJSC (a) 687,495 325,672 
Emaar Properties PJSC 1,167,393 1,525,526 
Emirates Telecommunications Corp. 559,343 2,543,057 
National Bank of Abu Dhabi PJSC (a) 933,219 4,065,041 
TOTAL UNITED ARAB EMIRATES  13,169,493 
United Kingdom - 10.7%   
3i Group PLC 319,962 4,466,452 
Admiral Group PLC 67,563 1,941,771 
Anglo American PLC (United Kingdom) 345,713 8,932,344 
Antofagasta PLC 126,049 1,492,460 
Ashtead Group PLC 158,371 4,382,265 
Associated British Foods PLC 117,174 3,910,021 
AstraZeneca PLC (United Kingdom) 434,671 32,382,906 
Auto Trader Group PLC (d) 296,412 2,191,185 
Aviva PLC 1,281,759 7,198,523 
Babcock International Group PLC 77,398 529,867 
BAE Systems PLC 1,049,126 6,743,029 
Barclays PLC 5,621,625 12,064,043 
Barratt Developments PLC 333,013 2,613,310 
Berkeley Group Holdings PLC 39,507 1,934,983 
BHP Billiton PLC 692,199 16,339,063 
BP PLC 6,897,499 50,156,569 
British American Tobacco PLC (United Kingdom) 788,756 30,878,966 
British Land Co. PLC 298,989 2,315,897 
BT Group PLC 2,763,124 8,245,202 
Bunzl PLC 110,168 3,317,088 
Burberry Group PLC 135,475 3,563,220 
Carnival PLC 55,416 2,937,858 
Centrica PLC 1,879,166 2,612,356 
Coca-Cola European Partners PLC 74,292 3,981,308 
Compass Group PLC 519,737 11,826,023 
ConvaTec Group PLC (d) 468,460 846,363 
Croda International PLC 42,212 2,851,853 
Diageo PLC 854,419 36,020,352 
Direct Line Insurance Group PLC 447,005 1,920,055 
easyJet PLC 54,871 832,505 
Fresnillo PLC 76,511 747,080 
G4S PLC (United Kingdom) 494,381 1,393,783 
GlaxoSmithKline PLC 1,722,950 35,394,947 
Hammerson PLC 250,914 1,053,231 
Hargreaves Lansdown PLC 93,710 2,758,005 
HSBC Holdings PLC (United Kingdom) 6,932,463 60,402,295 
Imperial Tobacco Group PLC 313,477 9,957,735 
Informa PLC 409,761 4,162,418 
InterContinental Hotel Group PLC 56,312 3,648,045 
Intertek Group PLC 53,141 3,707,329 
Investec PLC 229,443 1,451,089 
ITV PLC 1,191,480 2,123,117 
J Sainsbury PLC 584,154 1,694,864 
John Wood Group PLC 224,239 1,375,778 
Johnson Matthey PLC 64,438 2,803,986 
Kingfisher PLC 700,435 2,415,232 
Land Securities Group PLC 242,678 2,920,853 
Legal & General Group PLC 1,959,215 7,107,499 
Lloyds Banking Group PLC 23,341,886 19,089,821 
London Stock Exchange Group PLC 103,002 6,753,151 
Marks & Spencer Group PLC 538,228 2,007,730 
Meggitt PLC 255,228 1,811,857 
Melrose Industries PLC 1,594,786 4,204,953 
Merlin Entertainments PLC (d) 233,903 1,116,945 
Micro Focus International PLC 115,459 2,917,523 
Mondi PLC 121,516 2,662,868 
National Grid PLC 1,114,521 12,151,337 
Next PLC 45,893 3,450,632 
NMC Health PLC 35,675 1,312,800 
Pearson PLC 252,997 2,740,689 
Pearson PLC sponsored ADR (b) 4,952 53,680 
Persimmon PLC 103,958 3,031,149 
Prudential PLC 927,788 21,080,625 
Reckitt Benckiser Group PLC 220,617 17,849,334 
RELX PLC (London Stock Exchange) 646,374 14,826,113 
Rio Tinto PLC 405,358 23,648,208 
Rolls-Royce Holdings PLC 557,390 6,675,043 
Royal Bank of Scotland Group PLC 1,582,315 4,954,759 
Royal Dutch Shell PLC:   
Class A 75,363 2,398,122 
Class A (United Kingdom) 1,530,584 48,766,581 
Class B (United Kingdom) 1,228,681 39,653,665 
Royal Mail PLC 291,243 960,086 
RSA Insurance Group PLC 343,706 2,429,204 
Sage Group PLC 356,220 3,369,562 
Schroders PLC 42,383 1,750,320 
Scottish & Southern Energy PLC 344,540 5,155,223 
Segro PLC 354,396 3,135,106 
Severn Trent PLC 77,144 2,048,130 
Smith & Nephew PLC 286,804 5,544,635 
Smiths Group PLC 130,400 2,588,883 
St. James's Place Capital PLC 170,949 2,500,020 
Standard Chartered PLC (United Kingdom) 922,263 8,418,417 
Standard Life PLC 828,369 3,012,659 
Taylor Wimpey PLC 1,053,799 2,492,715 
Tesco PLC 3,215,908 10,492,349 
The Weir Group PLC 81,335 1,760,080 
Unilever PLC 396,518 24,034,974 
United Utilities Group PLC 222,053 2,399,849 
Vodafone Group PLC 8,762,539 16,253,407 
Whitbread PLC 60,122 3,496,599 
WM Morrison Supermarkets PLC 747,237 2,103,723 
TOTAL UNITED KINGDOM  761,648,649 
United States of America - 0.1%   
Southern Copper Corp. 31,545 1,211,959 
Yum China Holdings, Inc. 122,952 5,845,138 
TOTAL UNITED STATES OF AMERICA  7,057,097 
TOTAL COMMON STOCKS   
(Cost $6,360,777,692)  6,952,241,323 
Nonconvertible Preferred Stocks - 1.4%   
Brazil - 0.7%   
Ambev SA sponsored ADR 96,079 452,532 
Banco Bradesco SA:   
(PN) 1,300,347 11,799,328 
(PN) sponsored ADR 97,539 883,707 
Brasil Foods SA sponsored ADR (a) 5,717 44,764 
Braskem SA (PN-A) 57,100 695,784 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) (a) 71,900 635,366 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 51,201 1,260,079 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 318,865 1,198,661 
Gerdau SA 348,050 1,256,002 
Itau Unibanco Holding SA 1,570,661 13,551,162 
Itau Unibanco Holding SA sponsored ADR 86,160 745,284 
Itausa-Investimentos Itau SA (PN) 1,517,407 4,608,992 
Lojas Americanas SA (PN) 283,037 1,134,718 
Petroleo Brasileiro SA - Petrobras:   
(PN) (non-vtg.) 1,227,340 8,485,677 
(PN) sponsored ADR (non-vtg.) 35,440 489,072 
sponsored ADR 49,157 748,661 
Telefonica Brasil SA 145,940 1,733,296 
TOTAL BRAZIL  49,723,085 
Chile - 0.0%   
Embotelladora Andina SA Class B 110,619 394,916 
Sociedad Quimica y Minera de Chile SA (PN-B) 40,880 1,457,568 
TOTAL CHILE  1,852,484 
Colombia - 0.0%   
Bancolombia SA (PN) 159,177 2,013,559 
Grupo Aval Acciones y Valores SA 1,324,660 510,076 
Grupo de Inversiones Suramerica SA 31,028 334,535 
TOTAL COLOMBIA  2,858,170 
France - 0.1%   
Air Liquide SA (a) 36,543 4,861,382 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 18,695 1,379,715 
Fuchs Petrolub AG 22,710 987,786 
Henkel AG & Co. KGaA 62,769 6,353,050 
Porsche Automobil Holding SE (Germany) 52,651 3,660,173 
Sartorius AG (non-vtg.) 11,855 2,170,000 
Volkswagen AG 62,549 10,876,825 
TOTAL GERMANY  25,427,549 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 1,990,393 1,039,330 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 4,232 425,378 
CJ Corp. (a)(c) 649 20,444 
Hyundai Motor Co. 9,454 657,876 
Hyundai Motor Co. Series 2 11,227 843,947 
LG Chemical Ltd. 2,748 473,341 
LG Household & Health Care Ltd. 764 530,989 
Samsung Electronics Co. Ltd. 269,903 8,625,692 
TOTAL KOREA (SOUTH)  11,577,667 
Russia - 0.0%   
AK Transneft OAO 131 340,385 
Surgutneftegas OJSC 2,398,117 1,452,640 
TOTAL RUSSIA  1,793,025 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC (C Shares) (a) 39,574,690 51,605 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $92,508,824)  99,184,297 
 Principal Amount Value 
Nonconvertible Bonds - 0.0%   
India - 0.0%   
NTPC Ltd. 8.49% 3/25/25
(Cost $46,681) 		INR233,068 41,912 
 Shares Value 
Money Market Funds - 2.6%   
Fidelity Cash Central Fund, 2.49% (e) 141,889,982 141,918,360 
Fidelity Securities Lending Cash Central Fund 2.49% (e)(f) 45,835,393 45,839,977 
TOTAL MONEY MARKET FUNDS   
(Cost $187,757,929)  187,758,337 
TOTAL INVESTMENT IN SECURITIES - 101.2%   
(Cost $6,641,091,126)  7,239,225,869 
NET OTHER ASSETS (LIABILITIES) - (1.2)%  (85,556,091) 
NET ASSETS - 100%  $7,153,669,778 

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) 722 June 2019 $69,203,700 $2,968,907 $2,968,907 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 501 June 2019 27,059,010 1,149,817 1,149,817 
TME S&P/TSX 60 Index Contracts (Canada) 48 June 2019 7,118,489 313,411 313,411 
TOTAL FUTURES CONTRACTS     $4,432,135 

The notional amount of futures purchased as a percentage of Net Assets is 1.4%

Currency Abbreviations

INR – Indian rupee

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 $64,176,488 or 0.9% of net assets.

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

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

Affiliated Central Funds

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 $2,871,591 
Fidelity Securities Lending Cash Central Fund 344,931 
Total $3,216,522 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $491,076,667 $175,632,275 $315,444,392 $-- 
Consumer Discretionary 815,082,374 576,564,835 238,498,454 19,085 
Consumer Staples 686,925,771 359,719,997 327,181,842 23,932 
Energy 515,602,532 270,378,000 245,224,532 -- 
Financials 1,557,610,047 989,080,442 567,669,748 859,857 
Health Care 565,137,766 248,303,895 316,833,871 -- 
Industrials 832,338,284 597,356,909 234,959,474 21,901 
Information Technology 607,759,915 413,671,656 194,088,257 2 
Materials 525,207,415 348,785,880 176,421,535 -- 
Real Estate 234,362,824 234,362,824 -- -- 
Utilities 220,322,025 155,300,684 65,021,341 -- 
Corporate Bonds 41,912 -- 41,912 -- 
Money Market Funds 187,758,337 187,758,337 -- -- 
Total Investments in Securities: $7,239,225,869 $4,556,915,734 $2,681,385,358 $924,777 
Derivative Instruments:     
Assets     
Futures Contracts $4,432,135 $4,432,135 $-- $-- 
Total Assets $4,432,135 $4,432,135 $-- $-- 
Total Derivative Instruments: $4,432,135 $4,432,135 $-- $-- 

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, 2019. 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) $4,432,135 $0 
Total Equity Risk 4,432,135 0 
Total Value of Derivatives $4,432,135 $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 distributable earnings.

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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $44,006,096) — See accompanying schedule:
Unaffiliated issuers (cost $6,453,333,197) 		$7,051,467,532  
Fidelity Central Funds (cost $187,757,929) 187,758,337  
Total Investment in Securities (cost $6,641,091,126)  $7,239,225,869 
Segregated cash with brokers for derivative instruments  10,066,224 
Cash  8,028 
Foreign currency held at value (cost $33,036,763)  33,160,715 
Receivable for fund shares sold  25,830 
Dividends receivable  32,177,410 
Distributions receivable from Fidelity Central Funds  624,210 
Other receivables  6,209 
Total assets  7,315,294,495 
Liabilities   
Payable for investments purchased $517,886  
Payable for fund shares redeemed 113,600,041  
Accrued management fee 358,785  
Payable for daily variation margin on futures contracts 82,496  
Other payables and accrued expenses 1,212,634  
Collateral on securities loaned 45,852,875  
Total liabilities  161,624,717 
Net Assets  $7,153,669,778 
Net Assets consist of:   
Paid in capital  $6,588,712,766 
Total distributable earnings (loss)  564,957,012 
Net Assets, for 569,213,492 shares outstanding  $7,153,669,778 
Net Asset Value, offering price and redemption price per share ($7,153,669,778 ÷ 569,213,492 shares)  $12.57 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $99,876,077 
Interest  169,524 
Income from Fidelity Central Funds  3,216,522 
Income before foreign taxes withheld  103,262,123 
Less foreign taxes withheld  (9,350,257) 
Total income  93,911,866 
Expenses   
Management fee $1,934,490  
Independent trustees' fees and expenses 13,716  
Legal 1,360  
Commitment fees 8,945  
Total expenses before reductions 1,958,511  
Expense reductions (1,657)  
Total expenses after reductions  1,956,854 
Net investment income (loss)  91,955,012 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (19,572,495)  
Fidelity Central Funds (980)  
Foreign currency transactions (67,025)  
Futures contracts 16,329,691  
Total net realized gain (loss)  (3,310,809) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $631,275) 501,165,141  
Fidelity Central Funds 407  
Assets and liabilities in foreign currencies 27,252  
Futures contracts 13,200,163  
Total change in net unrealized appreciation (depreciation)  514,392,963 
Net gain (loss)  511,082,154 
Net increase (decrease) in net assets resulting from operations  $603,037,166 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $91,955,012 $159,681,284 
Net realized gain (loss) (3,310,809) (11,188,546) 
Change in net unrealized appreciation (depreciation) 514,392,963 (687,868,669) 
Net increase (decrease) in net assets resulting from operations 603,037,166 (539,375,931) 
Distributions to shareholders (162,270,722) (128,402,196) 
Share transactions   
Proceeds from sales of shares 940,340,954 1,917,429,917 
Reinvestment of distributions 162,270,722 128,402,196 
Cost of shares redeemed (336,433,304) (428,336,990) 
Net increase (decrease) in net assets resulting from share transactions 766,178,372 1,617,495,123 
Total increase (decrease) in net assets 1,206,944,816 949,716,996 
Net Assets   
Beginning of period 5,946,724,962 4,997,007,966 
End of period $7,153,669,778 $5,946,724,962 
Other Information   
Shares   
Sold 79,116,607 148,225,327 
Issued in reinvestment of distributions 14,436,897 9,922,890 
Redeemed (28,177,113) (32,286,725) 
Net increase (decrease) 65,376,391 125,861,492 

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,     
 2019 2018 2017 2016 2015 2014 
Selected Per–Share Data       
Net asset value, beginning of period $11.80 $13.22 $10.95 $11.15 $12.16 $12.35 
Income from Investment Operations       
Net investment income (loss)A .17 .37 .33 .30 .31 .39 
Net realized and unrealized gain (loss) .92 (1.46) 2.21 (.23) (.96) (.33) 
Total from investment operations 1.09 (1.09) 2.54 .07 (.65) .06 
Distributions from net investment income (.32) (.31) (.27) (.27) (.35) (.24) 
Distributions from net realized gain – (.02) (.01) – (.01) (.01) 
Total distributions (.32) (.33) (.27)B (.27) (.36) (.25) 
Net asset value, end of period $12.57 $11.80 $13.22 $10.95 $11.15 $12.16 
Total ReturnC,D 9.53% (8.48)% 23.84% .71% (5.53)% .52% 
Ratios to Average Net AssetsE,F       
Expenses before reductions .06%G .06% .06% .16% .20% .20% 
Expenses net of fee waivers, if any .06%G .06% .06% .16% .20% .20% 
Expenses net of all reductions .06%G .06% .06% .16% .20% .20% 
Net investment income (loss) 2.85%G 2.82% 2.74% 2.84% 2.68% 3.19% 
Supplemental Data       
Net assets, end of period (000 omitted) $7,153,670 $5,946,725 $4,997,008 $3,638,463 $2,998,297 $2,478,198 
Portfolio turnover rateH 1%G 2% 4% 1% 2% 2% 

 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 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. 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, 2019

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. 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, 2019 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 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 $1,219,694,589 
Gross unrealized depreciation (653,997,022) 
Net unrealized appreciation (depreciation) $565,697,567 
Tax cost $6,677,960,437 

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  
Short-term (1,560,691) 
Long-term (55,315,962) 
Total no expiration (56,876,653) 
Total capital loss carryforward $(59,562,446) 

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 $1,013,145,390 and $46,036,940, 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.

The Board approved a new management contract effective June 1, 2019. Under the management contract, the Fund will not pay a management fee. In addition, the investment adviser will pay all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

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

Interfund Trades. 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 $8,945 and is reflected in Commitment fees 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. At period end, there were no security loans outstanding with FCM. 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 $344,931, including $55 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 $1,657.

Effective June 1, 2019 the investment adviser will contractually reimburse expenses of the Fund to the extent annual operating expenses exceed .014% of class level average net assets. Fees and expenses of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses will be excluded from this reimbursement.

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 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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Actual .06% $1,000.00 $1,095.30 $.31-C 
Hypothetical-D  $1,000.00 $1,024.50 $.30-C 

 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 If fees and changes to the Fund level expense contract and/ or expense cap, effective June 1, 2019, had been in effect during the current period, the restated annualized expense ratio would have been .01% and the expenses paid in the actual and hypothetical examples above would have been $.05 and $.05, respectively.

 D 5% return per year before expenses

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Series Global ex U.S. Index Fund

In January 2019, the Board of Trustees, including the Independent Trustees (together, the Board), voted to approve the amended and restated management contract with Fidelity Management & Research Company (FMR) and an amended sub-advisory agreement with an affiliate of FMR (together, the Amended Advisory Contracts) for the fund. FMR and the sub-adviser are collectively referred to herein as the Investment Advisers. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, considered a range of information.

The Board noted the amended and restated management contract implemented a new fee structure pursuant to which the fund does not pay a management fee to FMR. The Board also approved certain amendments to the sub-advisory agreement for the fund to ensure consistency in the sub-advisory fee paid under the new fee structure compared to the sub-advisory fees paid under the current fee structure. The Board noted that the amendments will not result in any changes to the nature, extent, or quality of services provided to the fund. The Board also noted that no changes were being made to the sub-advisory agreement with Geode Capital Management, LLC for the fund.

The Board also noted that FMR has contractually agreed to reimburse the fund to the extent that total operating expenses (excluding interest, certain taxes, fees and expenses of the Independent Trustees, proxy and shareholder meeting expenses, extraordinary expenses, and acquired fund fees and expenses, if any, as well as non-operating expenses such as brokerage commissions and fees and expenses associated with the fund's securities lending program, if applicable), as a percentage of its average net assets exceed 0.014%, through February 28, 2022.

Because the Board was approving an arrangement under which the management fee was being reduced, the Board did not consider FMR's costs of services, revenues, or profitability to be significant factors in its decision to approve the Amended Advisory Contracts. Because the fund will pay no advisory fees and FMR or an affiliate will bear all expenses of the fund, with certain limited exceptions, the realization of economies of scale was not a material factor in the Board's decision to approve the fund's Amended Advisory Contracts.

In connection with its consideration of future renewals of the fund's management contract and sub-advisory agreements, the Board will consider: (i) the nature, extent and quality of services provided to the fund, including shareholder and administrative services and investment performance; (ii) the competitiveness of the management fee and total expenses for the fund; (iii) the costs of the services and profitability, including the revenues earned and the expenses incurred in conducting the business of developing, marketing, distributing, managing, administering, and servicing the fund and its shareholders, to the extent applicable; and (iv) whether there have been economies of scale in respect of the Fidelity funds, whether the Fidelity funds (including the fund) have appropriately benefited from any such economies of scale, and whether there is the potential for realization of any further economies.

Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board ultimately concluded that the fund's management fee structure is fair and reasonable, and that the fund's Amended Advisory Contracts should be approved.





Fidelity Investments

SGX-SANN-0619
1.899282.109

Fidelity® Emerging Markets Index Fund

Fidelity® Global ex U.S. Index Fund



Semi-Annual Report

April 30, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Funds nor Fidelity Distributors Corporation is a bank.



Fidelity® Emerging Markets Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 5.0 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail) 4.3 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 3.7 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 3.3 
Naspers Ltd. Class N (South Africa, Internet & Direct Marketing Retail) 2.0 
China Construction Bank Corp. (H Shares) (China, Banks) 1.5 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) (China, Insurance) 1.1 
China Mobile Ltd. (Hong Kong, Wireless Telecommunication Services) 1.0 
Reliance Industries Ltd. (India, Oil, Gas & Consumable Fuels) 1.0 
Industrial & Commercial Bank of China Ltd. (H Shares) (China, Banks) 0.9 
 23.8 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 23.6 
Information Technology 14.2 
Consumer Discretionary 14.1 
Communication Services 11.2 
Energy 7.8 
Materials 6.8 
Consumer Staples 6.1 
Industrials 4.4 
Real Estate 2.8 
Health Care 2.4 

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Cayman Islands 16.7% 
   Korea (South) 12.3% 
   Taiwan 10.9% 
   China 10.5% 
   India 8.7% 
   Brazil 6.8% 
   South Africa 5.8% 
   United States of America 4.7% 
   Russia 3.6% 
   Other* 20.0% 


 * 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, 2019

 % 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, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 92.3%   
 Shares Value 
Bailiwick of Jersey - 0.0%   
Polymetal International PLC 78,305 $821,608 
Bermuda - 1.0%   
Alibaba Health Information Technology Ltd. (a) 1,592,000 1,903,549 
Alibaba Pictures Group Ltd. (a) 6,420,000 1,440,343 
Beijing Enterprises Water Group Ltd. 2,428,000 1,507,286 
Brilliance China Automotive Holdings Ltd. 1,382,000 1,520,327 
China Gas Holdings Ltd. 806,400 2,595,554 
China Oriental Group Co. Ltd. (H Shares) 488,000 299,215 
China Resource Gas Group Ltd. 404,000 1,869,417 
Cosco Shipping Ports Ltd. 783,082 780,606 
Credicorp Ltd. 6,502 1,541,949 
Credicorp Ltd. (United States) 24,221 5,737,955 
GOME Electrical Appliances Holdings Ltd. (a)(b) 4,630,802 531,272 
Haier Electronics Group Co. Ltd. 575,000 1,645,517 
Hanergy Thin Film Power Group Ltd. (a)(c) 1,618,000 2 
HengTen Networks Group Ltd. (a) 9,644,000 276,604 
Kunlun Energy Co. Ltd. 1,460,000 1,540,995 
Luye Pharma Group Ltd. (d) 496,500 449,361 
Nine Dragons Paper (Holdings) Ltd. 709,000 655,243 
Shenzhen International Holdings Ltd. 428,500 924,207 
Sihuan Pharmaceutical Holdings Group Ltd. 1,657,000 445,680 
TOTAL BERMUDA  25,665,082 
Brazil - 4.3%   
Ambev SA 2,141,100 10,085,465 
Atacadao Distribuicao Comercio e Industria Ltda 178,200 963,464 
B2W Companhia Global do Varejo (a) 83,700 816,486 
Banco Bradesco SA 547,238 4,326,433 
Banco do Brasil SA 390,700 4,950,135 
Banco Santander SA (Brasil) unit 188,000 2,158,037 
BB Seguridade Participacoes SA 317,300 2,286,832 
BM&F BOVESPA SA 934,614 8,211,332 
BR Malls Participacoes SA 375,895 1,179,136 
Brasil Foods SA (a) 240,300 1,902,863 
CCR SA 552,300 1,646,575 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 91,800 765,566 
Cielo SA 560,014 1,096,862 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 155,800 1,867,486 
Companhia Siderurgica Nacional SA (CSN) 284,200 1,053,854 
Cosan SA Industria e Comercio 71,200 851,073 
Drogasil SA 105,300 1,856,735 
Embraer SA 304,800 1,526,682 
ENGIE Brasil Energia SA 92,350 1,047,831 
Equatorial Energia SA 75,900 1,589,194 
Hypermarcas SA 159,500 1,142,220 
IRB Brasil Resseguros SA 63,200 1,513,473 
Itausa-Investimentos Itau SA 21,512 75,710 
JBS SA 433,700 2,186,695 
Klabin SA unit 321,300 1,360,225 
Kroton Educacional SA 637,748 1,585,790 
Localiza Rent A Car SA 263,752 2,434,986 
Lojas Renner SA 326,690 3,905,850 
M. Dias Branco SA 43,600 462,453 
Magazine Luiza SA 34,600 1,687,689 
Multiplan Empreendimentos Imobiliarios SA 121,158 740,340 
Natura Cosmeticos SA 88,300 1,176,403 
Petrobras Distribuidora SA 159,800 965,867 
Petroleo Brasileiro SA - Petrobras (ON) 1,380,000 10,544,184 
Porto Seguro SA 42,400 585,215 
Rumo SA (a) 496,800 2,293,254 
Sul America SA unit 89,274 710,349 
Suzano Papel e Celulose SA 247,355 2,569,373 
TIM Participacoes SA 386,600 1,152,573 
Ultrapar Participacoes SA 329,800 1,766,290 
Vale SA 1,438,184 18,375,716 
Weg SA 380,632 1,803,612 
TOTAL BRAZIL  109,220,308 
British Virgin Islands - 0.0%   
Tianhe Chemicals Group Ltd. (a)(c)(d) 376,000 28,039 
Cayman Islands - 16.7%   
3SBio, Inc. (d) 583,500 1,078,517 
51job, Inc. sponsored ADR (a)(b) 11,274 1,041,041 
58.com, Inc. ADR (a) 42,684 3,064,284 
AAC Technology Holdings, Inc. 332,500 2,159,974 
Agile Property Holdings Ltd. 716,000 1,082,470 
Airtac International Group 50,000 666,624 
Alibaba Group Holding Ltd. sponsored ADR (a) 587,801 109,078,232 
Anta Sports Products Ltd. 487,000 3,432,987 
Autohome, Inc. ADR Class A (a)(b) 26,648 3,077,578 
Baidu.com, Inc. sponsored ADR (a) 125,394 20,844,245 
Baozun, Inc. sponsored ADR (a)(b) 16,074 779,589 
Car, Inc. (a) 318,000 257,406 
Chailease Holding Co. Ltd. 535,020 2,276,718 
China Conch Venture Holdings Ltd. 734,500 2,481,166 
China First Capital Group Ltd. (a) 1,422,000 598,180 
China Hongqiao Group Ltd. 942,500 776,126 
China Huishan Dairy Holdings Co. Ltd. (a)(c) 888,000 23,771 
China Investment Fund International Holdings Co. Ltd. (c) 357,000 1,051,231 
China Literature Ltd. (a)(b)(d) 112,000 508,260 
China Medical System Holdings Ltd. 596,000 528,019 
China Mengniu Dairy Co. Ltd. 1,246,000 4,606,109 
China Resources Cement Holdings Ltd. 1,110,000 1,110,736 
China Resources Land Ltd. 1,256,744 5,470,861 
China State Construction International Holdings Ltd. 875,000 906,811 
China Zhongwang Holdings Ltd. 699,200 381,473 
CIFI Holdings Group Co. Ltd. 1,598,000 1,061,286 
Country Garden Holdings Co. Ltd. 3,439,737 5,542,305 
Country Garden Services Holdings Co. Ltd. 546,000 1,009,204 
Ctrip.com International Ltd. ADR (a) 185,534 8,172,773 
Dali Foods Group Co. Ltd. (d) 873,000 620,964 
ENN Energy Holdings Ltd. 357,500 3,376,855 
Evergrande Real Estate Group Ltd. 1,189,000 3,811,869 
Fullshare Holdings Ltd. 3,037,500 340,735 
Future Land Development Holding Ltd. 808,000 963,033 
GDS Holdings Ltd. ADR (a)(b) 26,821 1,049,506 
Geely Automobile Holdings Ltd. 2,243,000 4,500,410 
Genscript Biotech Corp. (a) 398,000 1,014,685 
Greentown China Holdings Ltd. 380,000 343,922 
Greentown Service Group Co. Ltd. 416,000 359,005 
Haitian International Holdings Ltd. 274,000 685,978 
Hengan International Group Co. Ltd. 328,000 2,891,240 
Huazhu Group Ltd. ADR (b) 59,520 2,523,648 
Hutchison China Meditech Ltd. sponsored ADR (a)(b) 23,103 694,938 
iQIYI, Inc. ADR (a)(b) 56,890 1,257,838 
JD.com, Inc. sponsored ADR (a) 331,385 10,031,024 
Jiayuan International Group Ltd. 439,818 196,788 
Kaisa Group Holdings Ltd. 921,000 390,951 
Kingboard Chemical Holdings Ltd. 320,000 1,042,219 
Kingboard Laminates Holdings Ltd. 466,500 489,406 
Kingdee International Software Group Co. Ltd. 1,052,000 1,287,375 
Kingsoft Corp. Ltd. 376,000 960,993 
KWG Property Holding Ltd. 550,000 643,611 
Lee & Man Paper Manufacturing Ltd. 649,000 526,163 
Lijun International Pharmaceutical Holding Ltd. 660,000 623,419 
Logan Property Holdings Co. Ltd. 624,000 994,289 
Longfor Properties Co. Ltd. 673,000 2,479,311 
Meitu, Inc. (a)(d) 721,000 264,695 
Meituan Dianping Class B 152,300 1,106,606 
Momo, Inc. ADR 65,725 2,304,976 
NetEase, Inc. ADR 35,227 10,023,138 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 64,765 6,182,467 
Nexteer Auto Group Ltd. 380,000 594,840 
Noah Holdings Ltd. sponsored ADR (a)(b) 12,374 672,403 
Pinduoduo, Inc. ADR (b) 86,716 1,927,697 
Semiconductor Manufacturing International Corp. (a)(b) 1,349,200 1,444,601 
Shenzhou International Group Holdings Ltd. 340,700 4,573,184 
Shimao Property Holdings Ltd. 525,000 1,599,467 
Shui On Land Ltd. 1,529,000 372,271 
SINA Corp. (a) 29,286 1,843,261 
Sino Biopharmaceutical Ltd. 3,162,000 3,039,144 
SOHO China Ltd. 856,000 309,892 
Sunac China Holdings Ltd. 1,100,000 5,671,910 
Sunny Optical Technology Group Co. Ltd. 323,700 3,946,806 
TAL Education Group ADR (a) 161,232 6,202,595 
Tencent Holdings Ltd. 2,590,000 127,655,038 
Tencent Music Entertainment Group ADR (a)(b) 39,613 681,344 
Tingyi (Cayman Islands) Holding Corp. 896,000 1,473,384 
Towngas China Co. Ltd. 412,506 328,120 
Uni-President China Holdings Ltd. 545,000 498,815 
Vipshop Holdings Ltd. ADR (a) 198,579 1,709,765 
Want Want China Holdings Ltd. 2,248,000 1,782,399 
Weibo Corp. sponsored ADR (a)(b) 24,852 1,702,362 
Wuxi Biologics (Cayman), Inc. (a)(d) 222,500 2,237,820 
Xiaomi Corp. Class B (b)(d) 1,562,400 2,393,949 
Xinyi Solar Holdings Ltd. 1,283,568 731,382 
Yihai International Holding Ltd. 213,000 1,050,772 
Yuzhou Properties Co. 691,613 364,991 
YY, Inc. ADR (a) 22,317 1,888,241 
Zhen Ding Technology Holding Ltd. 193,000 690,133 
Zhongsheng Group Holdings Ltd. Class H 246,000 645,982 
ZTO Express (Cayman), Inc. sponsored ADR (b) 145,056 2,890,966 
TOTAL CAYMAN ISLANDS  427,973,567 
Chile - 0.9%   
Aguas Andinas SA 1,120,594 645,239 
Banco de Chile (a) 11,311,155 1,659,515 
Banco de Credito e Inversiones (a) 21,734 1,447,094 
Banco Santander Chile 30,030,558 2,110,519 
Cencosud SA 663,932 1,259,638 
Colbun SA (a) 3,379,404 755,414 
Compania Cervecerias Unidas SA 67,475 932,476 
Compania de Petroleos de Chile SA (COPEC) 177,689 2,229,967 
CorpBanca SA 68,629,315 613,033 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 65,847 689,561 
Empresas CMPC SA 574,392 1,933,410 
Enel Chile SA 12,827,278 1,292,576 
Enersis SA 13,083,797 2,295,894 
LATAM Airlines Group SA 113,372 1,124,346 
LATAM Airlines Group SA sponsored ADR (b) 27,622 271,248 
S.A.C.I. Falabella 341,992 2,524,621 
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR (b) 10,217 364,134 
TOTAL CHILE  22,148,685 
China - 10.5%   
Agricultural Bank of China Ltd.:   
(A Shares) 179,600 100,268 
(H Shares) 13,540,000 6,248,062 
Air China Ltd.:   
(A Shares) 50,100 75,504 
(H Shares) 810,000 965,417 
Aisino Co. Ltd. (A Shares) 10,900 41,238 
Aluminum Corp. of China Ltd.:   
(A shares) (a) 199,000 123,213 
(H Shares) (a) 1,418,000 554,923 
Angang Steel Co. Ltd. (H Shares) 454,000 304,989 
Anhui Conch Cement Co. Ltd. (H Shares) 584,500 3,565,206 
Anxin Trust Co. Ltd. (A Shares) 34,500 28,379 
AVIC Aircraft Co. Ltd. (A Shares) 4,800 11,346 
AVIC Aviation Engine Corp. PLC (A Shares) 16,600 59,919 
AVIC Capital Co. Ltd. (A Shares) 40,300 34,586 
AVIC Shenyang Aircraft Co. Ltd. (A Shares) (a) 7,600 34,643 
AviChina Industry & Technology Co. Ltd. (H Shares) 895,000 525,947 
Baic Motor Corp. Ltd. (H Shares) (d) 768,000 538,446 
Bank Communications Co. Ltd.:   
(H Shares) 4,090,000 3,446,219 
Class A 140,000 130,128 
Bank of Beijing Co. Ltd. (A Shares) 110,480 104,494 
Bank of China Ltd.:   
(A Shares) 197,500 114,074 
(H Shares) 36,094,000 17,207,776 
Bank of Guiyang Co. Ltd. (A Shares) 66,700 136,274 
Bank of Hangzhou Co. Ltd. (A Shares) 59,420 78,346 
Bank of Jiangsu Co. Ltd. (A Shares) 91,600 99,830 
Bank of Nanjing Co. Ltd. (A Shares) 49,300 63,465 
Bank of Ningbo Co. Ltd. (A Shares) 46,000 156,409 
Bank of Shanghai Co. Ltd. (A Shares) 59,806 112,510 
Baoshan Iron & Steel Co. Ltd. (A Shares) 127,400 135,631 
BBMG Corp. (H Shares) 1,055,000 371,176 
Beijing Capital Co. Ltd. (A Shares) 117,400 68,158 
Beijing Capital International Airport Co. Ltd. (H Shares) 730,000 649,526 
Beijing Dabeinong Technology Group Co. Ltd. (A Shares) 22,400 25,377 
Beijing Shiji Information Technology Co. Ltd. (A Shares) 4,100 18,957 
Beijing Tongrentang Co. Ltd. (A Shares) 21,400 99,042 
BOE Technology Group Co. Ltd. (A Shares) 240,800 128,715 
BYD Co. Ltd.:   
(A Shares) 10,000 84,485 
(H Shares) (b) 293,500 1,997,871 
CGN Power Co. Ltd. (H Shares) (d) 4,678,000 1,234,379 
Changjiang Securities Co. Ltd. (A Shares) 28,600 33,463 
China Avionics Systems Co. Ltd. (A Shares) 1,600 3,635 
China Cinda Asset Management Co. Ltd. (H Shares) 4,068,000 1,083,791 
China CITIC Bank Corp. Ltd.:   
(A Shares) 114,800 107,216 
(H Shares) 3,937,000 2,524,361 
China Coal Energy Co. Ltd. (H Shares) 800,000 352,845 
China Communications Construction Co. Ltd. (H Shares) 2,044,000 1,967,188 
China Communications Services Corp. Ltd. (H Shares) 1,040,000 837,854 
China Construction Bank Corp. (H Shares) 43,606,000 38,441,555 
China Eastern Airlines Corp. Ltd.:   
(A Shares) 15,900 16,148 
(H Shares) 706,000 501,277 
China Everbright Bank Co. Ltd.:   
(A Shares) 244,000 151,076 
(H Shares) 1,083,000 534,266 
China Film Co. Ltd. (A Shares) 7,500 20,089 
China Fortune Land Development Co. Ltd. (A Shares) 20,600 96,104 
China Galaxy Securities Co. Ltd. (H Shares) 1,598,000 1,044,990 
China Gezhouba Group Co. Ltd. (A Shares) 10,900 11,022 
China Grand Automotive Services Co. Ltd. (A Shares) 27,400 20,138 
China Huarong Asset Management Co. Ltd. (d) 4,638,000 993,249 
China International Capital Corp. Ltd. (H Shares) (d) 473,600 1,016,651 
China International Travel Service Corp. Ltd. (A Shares) 12,000 138,069 
China Life Insurance Co. Ltd. 20,400 91,779 
China Life Insurance Co. Ltd. (H Shares) 3,376,000 9,593,276 
China Longyuan Power Grid Corp. Ltd. (H Shares) 1,448,000 996,737 
China Merchants Bank Co. Ltd.:   
(A Shares) 26,700 136,574 
(H Shares) 1,874,346 9,276,151 
China Merchants Securities Co. Ltd. (A Shares) 35,500 92,402 
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares) 47,700 155,815 
China Minsheng Banking Corp. Ltd.:   
(A Shares) 109,500 104,055 
(H Shares) 2,944,540 2,210,807 
China Molybdenum Co. Ltd.:   
(H Shares) 1,791,000 673,497 
Class A 64,700 40,444 
China National Building Materials Co. Ltd. (H Shares) 1,766,000 1,641,105 
China National Chemical Engineering Co. Ltd. (A Shares) 13,400 12,356 
China National Nuclear Power Co. Ltd. (A Shares) 75,700 66,653 
China Northern Rare Earth Group High-Tech Co. Ltd. 14,800 22,568 
China Nuclear Engineering Corp. Ltd. (A Shares) 6,601 8,713 
China Oilfield Services Ltd. (H Shares) 818,000 875,892 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 1,247,200 5,111,345 
China Petroleum & Chemical Corp.:   
(A Shares) 164,000 138,312 
(H Shares) 11,563,000 8,888,588 
China Railway Construction Corp. Ltd.:   
(A Shares) 23,600 37,985 
(H Shares) 964,500 1,138,496 
China Railway Group Ltd. (H Shares) 1,684,000 1,326,627 
China Railway Signal & Communications Corp. (H Shares) (d) 614,000 450,826 
China Reinsurance Group Corp. (H Shares) 2,401,000 489,700 
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares) 2,700 11,826 
China Shenhua Energy Co. Ltd. (H Shares) 1,574,500 3,480,246 
China Shipbuilding Industry Co. (A Shares) 139,100 117,106 
China Shipbuilding Industry Group Power Co. Ltd. 2,300 8,128 
China Shipping Development Co. Ltd. (H Shares) 524,000 338,655 
China South Publishing & Media Group Co. Ltd. (A Shares) 8,200 15,207 
China Southern Airlines Ltd.:   
(A Shares) 14,300 18,005 
(H Shares) 902,000 786,467 
China Spacesat Co. Ltd. (A Shares) 24,100 82,517 
China State Construction Engineering Corp. Ltd. (A Shares) 280,780 255,562 
China Telecom Corp. Ltd. (H Shares) 6,292,000 3,256,363 
China Tower Corp. Ltd. (H Shares) (d) 18,002,000 4,864,909 
China United Network Communications Ltd. (A Shares) 202,900 200,945 
China Vanke Co. Ltd.:   
(A Shares) 34,200 146,653 
(H Shares) 599,300 2,318,575 
China Yangtze Power Co. Ltd. (A Shares) 84,800 212,412 
Chinese Universe Publishing and Media Group Co. Ltd. (A Shares) 5,700 11,984 
Chongqing Changan Automobile Co. Ltd. (A Shares) 23,300 29,580 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 1,164,000 679,574 
CITIC Guoan Information Industry Co. Ltd. (A Shares) 23,400 16,226 
CITIC Securities Co. Ltd. (H Shares) 1,140,000 2,464,614 
COSCO SHIPPING Holdings Co. Ltd.:   
(A Shares) (a) 91,400 77,762 
(H Shares) (a) 1,100,500 512,037 
CRRC Corp. Ltd. (H Shares) 2,067,600 1,805,407 
Daqin Railway Co. Ltd. (A Shares) 120,800 152,818 
Datang International Power Generation Co. Ltd. (H Shares) 1,116,000 288,787 
DHC Software Co. Ltd. (A Shares) 7,700 8,998 
Dong E-E-Jiao Co. Ltd. (A Shares) 12,100 78,674 
Dongfang Electric Corp. Ltd. (A Shares) (a) 10,100 17,936 
Dongfeng Motor Group Co. Ltd. (H Shares) 1,236,000 1,199,006 
Dongxing Securities Co. Ltd. (A Shares) 10,700 21,051 
Dr. Peng Telcom & Media Group Ltd. (A Shares) 3,400 4,791 
Everbright Securities Co. Ltd. (A Shares) 38,100 70,374 
Fangda Carbon New Material Co. Ltd. (A Shares) 6,800 21,183 
Financial Street Holdings Co. Ltd. (A Shares) 58,300 71,242 
First Capital Securities Co. Ltd. (A Shares) 18,200 19,024 
Focus Media Information Technology Co. Ltd. (A Shares) 77,220 69,940 
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares) 13,800 182,937 
Founder Securities Co. Ltd. (A Shares) 56,000 58,038 
Foxconn Industrial Internet Co. Ltd. (A Shares) (a) 52,200 119,515 
Future Land Holdings Co. Ltd. (A Shares) 17,800 104,714 
Fuyao Glass Industries Group Co. Ltd.:   
(A Shares) 34,200 127,560 
(H Shares) (d) 186,000 653,210 
GD Power Development Co. Ltd. (A Shares) 258,900 104,177 
Gemdale Corp. (A Shares) 51,700 93,115 
GF Securities Co. Ltd. (H Shares) 720,600 973,684 
Giant Network Group Co. Ltd. (A Shares) 3,200 9,108 
GoerTek, Inc. (A Shares) 12,800 20,260 
Great Wall Motor Co. Ltd. (H Shares) (b) 1,413,500 1,147,766 
Gree Electric Appliances, Inc. of Zhuhai (A Shares) 19,500 160,924 
Greenland Holdings Corp. Ltd. (A Shares) 130,233 144,448 
Guangshen Railway Co. Ltd. (A Shares) 15,900 8,074 
Guangzhou Automobile Group Co. Ltd. (H Shares) 1,364,000 1,465,751 
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. (A Shares) 7,000 47,281 
Guangzhou Haige Communications Group (A Shares) 5,800 7,992 
Guangzhou R&F Properties Co. Ltd. (H Shares) 420,800 835,721 
Guosen Securities Co. Ltd. (A Shares) 41,900 76,771 
Guotai Junan Securities Co. Ltd.:   
(A Shares) 35,200 98,415 
(H Shares) (d) 300,000 640,934 
Guoyuan Securities Co. Ltd. (A Shares) 16,300 23,718 
Haitong Securities Co. Ltd.:   
rights (a)(c) 55,814 15,937 
(H Shares) 1,562,800 2,012,069 
Han's Laser Technology Industry Group Co. Ltd. (A Shares) 2,500 14,514 
Hangzhou Hikvision Digital Technology Co. Ltd. (A Shares) 56,700 275,127 
Hangzhou Robam Appliances Co. Ltd. (A Shares) 4,800 20,797 
Heilan Home Co. Ltd. (A Shares) 4,800 6,464 
Henan Shuanghui Investment & Development Co. Ltd. (A Shares) 31,123 128,607 
Hengli Petrochemical Co. Ltd. (A Shares) 25,100 66,263 
Hengtong Optic-electric Co. Ltd. (A Shares) 7,680 22,898 
Hesteel Co. Ltd. (A Shares) 95,700 45,471 
Huaan Securities Co. Ltd. (A Shares) 53,700 53,183 
Huadian Power International Corp. Ltd. (H Shares) 756,000 322,838 
Huadong Medicine Co. Ltd. (A Shares) 9,400 48,710 
Huaneng Power International, Inc. (H Shares) 1,974,000 1,263,191 
Huaneng Renewables Corp. Ltd. (H Shares) 2,056,000 592,311 
Huatai Securities Co. Ltd. (H Shares) (d) 815,800 1,534,929 
HUAXI Securities Co. Ltd. 7,200 11,246 
Huaxia Bank Co. Ltd. (A Shares) 89,600 106,697 
Huayu Automotive Systems Co. Ltd. (A Shares) 23,200 81,055 
Hubei Biocause Pharmaceutical Co. Ltd. (A Shares) 98,400 101,104 
Hubei Energy Group Co. Ltd. (A Shares) 155,500 92,586 
Hundsun Technologies, Inc. (A Shares) 3,300 40,693 
iFlytek Co. Ltd. (A Shares) 22,700 108,901 
Industrial & Commercial Bank of China Ltd.:   
(A Shares) 108,400 93,513 
(H Shares) 31,732,000 23,824,888 
Industrial Bank Co. Ltd. (A Shares) 163,600 483,884 
Industrial Securities Co. Ltd. (A Shares) 64,400 64,449 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 37,100 170,767 
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) 306,900 77,467 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 609,199 729,211 
Jiangsu Expressway Co. Ltd. (H Shares) 540,000 768,203 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 28,080 274,133 
Jiangsu Yanghe Brewery JSC Ltd. (A Shares) 9,400 164,220 
Jiangxi Copper Co. Ltd.:   
(A Shares) 30,000 68,286 
(H Shares) 542,000 718,540 
Jiangxi Ganfeng Lithium Co. Ltd. 5,700 20,854 
Jinduicheng Molybdenum Co. Ltd. (A Shares) 8,900 8,788 
Jinke Properties Group Co. Ltd. (A Shares) 94,000 106,214 
Jointown Pharmaceutical Group (A Shares) 4,400 10,257 
Kangmei Pharmaceutical Co. Ltd. (A Shares) 40,900 57,935 
Kweichow Moutai Co. Ltd. (A Shares) 8,100 1,171,421 
Legend Holdings Corp. (H Shares) (d) 159,100 432,998 
Liaoning Chengda Co. Ltd. (A Shares) 25,500 53,613 
LONGi Green Energy Technology Co. Ltd. 32,500 109,541 
Luxshare Precision Industry Co. Ltd. (A Shares) 29,050 112,535 
Luzhou Laojiao Co. Ltd. (A Shares) 13,800 159,578 
Maanshan Iron & Steel Co. Ltd.:   
(A Shares) 603,100 311,629 
(H Shares) 48,000 22,089 
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) 17,200 39,100 
Metallurgical Corp. China Ltd.:   
(A Shares) 441,800 217,787 
(H Shares) 982,000 271,637 
Midea Group Co. Ltd. (A Shares) 35,600 276,981 
Muyuan Foodstuff Co. Ltd. (A Shares) 12,600 119,922 
NARI Technology Co. Ltd. (A Shares) 37,500 110,970 
New China Life Insurance Co. Ltd. (H Shares) 397,600 2,202,187 
O-film Tech Co. Ltd. (A Shares) (c) 10,900 19,535 
Offshore Oil Enginering Co. Ltd. (A Shares) 11,500 9,784 
Oppein Home Group, Inc. (A Shares) 1,500 26,735 
Orient Securities Co. Ltd. (A Shares) 44,200 73,307 
People's Insurance Co. of China Group (H Shares) 3,764,000 1,540,185 
Perfect World Co. Ltd. (A Shares) 4,300 18,043 
PetroChina Co. Ltd.:   
(A Shares) 208,000 228,850 
(H Shares) 9,308,000 5,900,283 
PICC Property & Casualty Co. Ltd. (H Shares) 3,131,840 3,517,172 
Ping An Bank Co. Ltd. (A Shares) 113,800 234,024 
Ping An Insurance (Group) Co. of China Ltd.:   
(A Shares) 59,100 755,544 
(H Shares) 2,376,500 28,766,737 
Poly Developments & Holdings (A Shares) 71,400 143,014 
Postal Savings Bank of China Co. Ltd. (H Shares) (d) 3,597,000 2,187,142 
Power Construction Corp. of China Ltd. (A Shares) 93,000 73,738 
Qihoo 360 Technology Co. Ltd. (A Shares) 5,400 18,321 
Qingdao Haier Co. Ltd. (A Shares) 43,800 111,729 
Risesun Real Estate Development Co. Ltd. (A Shares) 21,100 32,426 
Rongsheng Petrochemical Co. Ltd. (A Shares) 5,700 11,180 
SAIC Motor Corp. Ltd. (A Shares) 47,800 194,326 
Sanan Optoelectronics Co. Ltd. (A Shares) 35,800 69,422 
Sany Heavy Industry Co. Ltd. (A Shares) 78,400 142,600 
SDIC Capital Co. Ltd. 21,300 43,929 
SDIC Power Holdings Co. Ltd. (A Shares) 71,500 85,886 
SF Holding Co. Ltd. (A Shares) 9,700 47,629 
Shaanxi Coal Industry Co. Ltd. (A Shares) 83,100 111,295 
Shandong Buchang Pharmaceuticals Co. Ltd. (A Shares) 2,210 10,471 
Shandong Gold Mining Co. Ltd. (A Shares) 13,600 58,904 
Shandong Linglong Tyre Co. Ltd. (A Shares) 15,500 39,539 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 876,000 859,831 
Shanghai 2345 Network Holding Group Co. Ltd. (A Shares) 9,750 8,093 
Shanghai Construction Group Co. Ltd. (A Shares) 50,200 28,473 
Shanghai Electric Group Co. Ltd. (H Shares) 1,184,000 461,840 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd.:   
(A Shares) 19,400 83,823 
(H Shares) 246,500 846,825 
Shanghai International Airport Co. Ltd. (A Shares) 4,900 51,387 
Shanghai International Port Group Co. Ltd. (A Shares) 60,500 72,493 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 465,124 704,198 
Shanghai Pharmaceuticals Holding Co. Ltd.:   
(A Shares) 28,100 82,111 
(H Shares) 376,600 788,264 
Shanghai Pudong Development Bank Co. Ltd. (A Shares) 196,200 348,708 
Shanghai Tunnel Engineering Co. Ltd. 18,600 19,056 
Shanghaioriental Pearl Media Co. Ltd. 32,990 55,596 
Shanxi Lu'an Environmental Energy Development Co. Ltd. (A Shares) 5,900 7,227 
Shanxi Securities Co. Ltd. (A Shares) 7,100 9,161 
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares) 4,300 36,667 
Shanxi Xishan Coal & Electricity Power Co. Ltd. (A Shares) 6,400 6,538 
Shenergy Co. Ltd. (A Shares) 138,900 115,494 
Shenwan Hongyuan Group Co. Ltd. (A Shares) 122,100 93,185 
Shenzhen Energy Group Co. Ltd. (A Shares) 100,000 89,534 
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) 59,700 70,471 
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares) 2,000 7,145 
Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd. (A Shares) 10,500 7,920 
Shijiazhuang Baosh Electric Co. Ltd. (A Shares) 21,400 19,605 
Sichuan Chuantou Energy Co. Ltd. (A Shares) 72,000 94,719 
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares) 6,500 27,699 
Sichuan New Hope Agribusiness Co. Ltd. (A Shares) 44,300 113,860 
Sinolink Securities Co. Ltd. (A Shares) 14,500 22,111 
Sinopec Engineering Group Co. Ltd. (H Shares) 567,500 548,344 
Sinopec Shanghai Petrochemical Co. Ltd.:   
(A Shares) 257,800 196,367 
(H Shares) 1,081,000 489,184 
Sinopharm Group Co. Ltd. (H Shares) 543,600 2,134,265 
Sinotrans Ltd. (H Shares) 858,000 352,177 
Soochow Securities Co. Ltd. (A Shares) 16,800 28,038 
Southwest Securities Co. Ltd. (A Shares) 20,200 15,716 
Spring Airlines Co. Ltd. (A Shares) 3,287 20,503 
Suning.com Co. Ltd. (A Shares) 54,500 102,123 
Suzhou Gold Mantis Consolidated Co. Ltd. 7,800 12,369 
Tasly Pharmaceutical Group Co. Ltd. (A Shares) 5,600 18,226 
TBEA Co. Ltd. (A Shares) 57,200 65,651 
TCL Corp. (A Shares) 199,100 106,129 
Tianma Microelectronics Co. Ltd. (A Shares) 11,800 24,634 
Tianqi Lithium Corp. (A Shares) 9,200 40,475 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 238,000 330,084 
Tonghua Dongbao Pharmaceutical Co. Ltd. (A Shares) 11,000 25,806 
Tongling Nonferrous Metals Group Co. Ltd. (A Shares) 42,400 15,739 
Tongwei Co. Ltd. (A Shares) 23,400 49,580 
TravelSky Technology Ltd. (H Shares) 426,000 1,094,215 
Tsingtao Brewery Co. Ltd.:   
(A Shares) 15,400 116,616 
(H Shares) 146,000 930,553 
Tus-Sound Environmental Resources Co. Ltd. (A Shares) 3,200 5,341 
Unisplendour Corp. Ltd. (A Shares) 1,260 7,300 
Wanxiang Qianchao Co. Ltd. (A Shares) 71,800 68,123 
Weichai Power Co. Ltd.:   
(A Shares) 128,700 236,001 
(H Shares) 779,200 1,273,371 
Weifu High-Technology Group Co. Ltd. (A Shares) 26,600 81,164 
Western Securities Co. Ltd. (A Shares) 15,700 24,780 
Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co. Ltd. (A Shares) 22,200 45,093 
Wuliangye Yibin Co. Ltd. (A Shares) 24,500 372,362 
XCMG Construction Machinery Co. Ltd. (A Shares) 17,500 11,901 
Xiamen C&D, Inc. (A Shares) 83,700 119,680 
Xinhu Zhongbao Co. Ltd. (A Shares) 14,800 7,779 
Xinjiang Goldwind Science & Technology Co. Ltd. (H Shares) (b) 432,010 471,396 
Yanzhou Coal Mining Co. Ltd. (H Shares) 846,000 901,560 
Yonghui Superstores Co. Ltd. (A Shares) 85,700 124,321 
Yonyou Network Technology Co. Ltd. (A Shares) 12,200 57,188 
Youngor Group Co. Ltd. (A Shares) 66,600 94,339 
Yunnan Baiyao Group Co. Ltd. (A Shares) 6,200 81,471 
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares) 6,100 104,431 
Zhaojin Mining Industry Co. Ltd. (H Shares) 453,500 390,211 
Zhejiang Century Huatong Group Co. Ltd. (A Shares) 2,560 7,431 
Zhejiang China Commodities City Group Co. Ltd. (A Shares) 144,800 92,450 
Zhejiang Chint Electric Co. Ltd. (A Shares) 28,800 108,403 
Zhejiang Dahua Technology Co. Ltd. (A Shares) 13,900 34,095 
Zhejiang Expressway Co. Ltd. (H Shares) 612,000 656,093 
Zhejiang Huayou Cobalt Co. Ltd. (A Shares) 4,420 19,085 
Zhejiang Longsheng Group Co. Ltd. (A Shares) 8,400 25,331 
Zhejiang Semir Garment Co. Ltd. (A Shares) 7,500 12,394 
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) 59,900 42,157 
Zhengzhou Yutong Bus Co. Ltd. (A Shares) 5,100 10,829 
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(d) 102,600 370,128 
Zhongjin Gold Co. Ltd. (A Shares) 15,500 18,273 
Zhuhai Wanlida Electric Co. Ltd. (A Shares) 1,200 4,659 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 248,000 1,258,209 
Zijin Mng Group Co. Ltd. (H Shares) 2,738,000 1,068,004 
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares) 113,200 83,199 
ZTE Corp.:   
(A Shares) (a) 18,000 85,926 
(H Shares) 352,480 1,118,799 
TOTAL CHINA  270,022,358 
Colombia - 0.3%   
Bancolombia SA 89,045 1,085,092 
Bancolombia SA sponsored ADR 14,409 730,824 
Cementos Argos SA 205,917 513,957 
Ecopetrol SA 2,244,292 2,071,975 
Grupo de Inversiones Suramerica SA 110,316 1,228,292 
Interconexion Electrica SA ESP 201,134 984,130 
Inversiones Argos SA 132,331 753,078 
TOTAL COLOMBIA  7,367,348 
Czech Republic - 0.2%   
Ceske Energeticke Zavody A/S 73,299 1,704,602 
Komercni Banka A/S 35,525 1,346,088 
MONETA Money Bank A/S (d) 210,267 673,448 
TOTAL CZECH REPUBLIC  3,724,138 
Egypt - 0.1%   
Commercial International Bank SAE (a) 561,937 2,515,134 
Commercial International Bank SAE sponsored GDR 42,342 185,246 
Eastern Tobacco Co. 384,418 407,255 
Elsewedy Electric Co. 334,210 303,456 
TOTAL EGYPT  3,411,091 
Greece - 0.2%   
Alpha Bank AE (a) 644,584 999,138 
Ff Group (a)(c) 10,260 27,618 
Greek Organization of Football Prognostics SA 97,237 1,046,986 
Hellenic Telecommunications Organization SA 112,948 1,568,329 
Jumbo SA 47,658 865,942 
Motor Oil (HELLAS) Corinth Refineries SA 26,651 679,739 
Titan Cement Co. SA (Reg.) 20,603 447,377 
TOTAL GREECE  5,635,129 
Hong Kong - 3.4%   
Beijing Enterprises Holdings Ltd. 227,500 1,210,754 
BYD Electronic International Co. Ltd. 294,000 525,428 
China Agri-Industries Holdings Ltd. 871,000 280,903 
China Everbright International Ltd. 1,551,333 1,518,743 
China Everbright Ltd. 426,000 775,454 
China Jinmao Holdings Group Ltd. 2,360,000 1,528,248 
China Merchants Holdings International Co. Ltd. 598,105 1,207,677 
China Mobile Ltd. 2,783,000 26,553,721 
China Overseas Land and Investment Ltd. 1,736,000 6,494,952 
China Power International Development Ltd. (b) 1,861,000 495,805 
China Resources Beer Holdings Co. Ltd. 664,878 3,038,430 
China Resources Pharmaceutical Group Ltd. (d) 721,000 1,025,693 
China Resources Power Holdings Co. Ltd. 873,691 1,222,864 
China Taiping Insurance Group Ltd. 737,777 2,238,310 
China Travel International Investment HK Ltd. 906,000 209,038 
China Unicom Ltd. 2,778,000 3,298,524 
CITIC Pacific Ltd. 2,610,000 3,799,485 
CNOOC Ltd. 7,733,000 14,045,714 
CNOOC Ltd. sponsored ADR 3,661 665,130 
CSPC Pharmaceutical Group Ltd. 2,126,000 4,097,634 
Far East Horizon Ltd. 993,000 1,102,518 
Fosun International Ltd. 1,176,000 1,822,884 
Guangdong Investment Ltd. 1,326,000 2,484,729 
Hua Hong Semiconductor Ltd. (d) 188,000 444,310 
Lenovo Group Ltd. 3,262,000 3,022,988 
MMG Ltd. (a) 1,056,000 456,333 
Shanghai Industrial Holdings Ltd. 223,000 524,184 
Shenzhen Investment Ltd. 1,384,000 550,439 
Sino-Ocean Group Holding Ltd. 1,322,979 593,627 
Sinotruk Hong Kong Ltd. 301,000 651,512 
Sun Art Retail Group Ltd. 1,091,966 953,494 
Winteam Pharmaceutical Group Ltd. 986,000 559,313 
Yuexiu Property Co. Ltd. 3,092,000 717,347 
TOTAL HONG KONG  88,116,185 
Hungary - 0.3%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 166,956 1,916,887 
OTP Bank PLC 101,737 4,508,883 
Richter Gedeon PLC 64,820 1,282,642 
TOTAL HUNGARY  7,708,412 
India - 8.7%   
Adani Ports & Special Economic Zone Ltd. (a) 236,998 1,336,638 
Ambuja Cements Ltd. 274,777 869,935 
Ashok Leyland Ltd. 510,378 637,176 
Asian Paints Ltd. 129,517 2,720,904 
Aurobindo Pharma Ltd. 121,049 1,423,538 
Avenue Supermarts Ltd. (a)(d) 56,945 1,059,231 
Axis Bank Ltd. (a) 862,155 9,492,779 
Bajaj Auto Ltd. 37,896 1,623,695 
Bajaj Finance Ltd. 78,677 3,497,352 
Bajaj Finserv Ltd. 17,279 1,865,778 
Bharat Forge Ltd. 97,048 658,046 
Bharat Petroleum Corp. Ltd. 346,237 1,888,353 
Bharti Airtel Ltd. 635,696 2,923,506 
Bharti Airtel Ltd. rights 5/17/19 (a) 180,272 259,613 
Bharti Infratel Ltd. 146,314 551,563 
Bosch Ltd. (a) 3,144 813,410 
Britannia Industries Ltd. 26,057 1,083,498 
Cadila Healthcare Ltd. 87,956 411,005 
Cipla Ltd. (a) 157,802 1,280,143 
Coal India Ltd. 560,866 2,030,559 
Container Corp. of India Ltd. 90,472 640,671 
Dabur India Ltd. 240,598 1,375,250 
Divi's Laboratories Ltd. 34,624 868,421 
Dr. Reddy's Laboratories Ltd. 52,156 2,192,319 
Eicher Motors Ltd. 6,090 1,781,024 
GAIL India Ltd. (a) 360,341 1,841,621 
Glenmark Pharmaceuticals Ltd. 60,340 553,090 
Godrej Consumer Products Ltd. 163,247 1,527,767 
Grasim Industries Ltd. (a) 150,430 1,946,495 
Havells India Ltd. (a) 113,714 1,264,786 
HCL Technologies Ltd. 246,417 4,186,793 
Hero Motocorp Ltd. 21,856 788,246 
Hindalco Industries Ltd. 535,543 1,584,399 
Hindustan Petroleum Corp. Ltd. 278,142 1,163,135 
Hindustan Unilever Ltd. 293,717 7,412,615 
Housing Development Finance Corp. Ltd. 740,256 21,204,757 
ICICI Bank Ltd. 1,080,887 6,291,562 
Indiabulls Housing Finance Ltd. 126,153 1,259,682 
Indian Oil Corp. Ltd. 857,425 1,945,755 
Infosys Ltd. 1,584,153 17,040,025 
InterGlobe Aviation Ltd. (d) 40,320 878,221 
ITC Ltd. 1,554,602 6,726,482 
JSW Steel Ltd. 387,597 1,716,018 
Larsen & Toubro Ltd. 216,331 4,188,740 
LIC Housing Finance Ltd. 136,870 976,211 
Lupin Ltd. (a) 102,070 1,278,018 
Mahindra & Mahindra Financial Services Ltd. 132,242 760,733 
Mahindra & Mahindra Ltd. 338,940 3,140,379 
Marico Ltd. 203,988 1,052,641 
Maruti Suzuki India Ltd. 47,979 4,592,405 
Motherson Sumi Systems Ltd. 433,922 912,740 
Nestle India Ltd. 10,471 1,639,545 
NTPC Ltd. 1,080,385 2,079,424 
Oil & Natural Gas Corp. Ltd. 1,139,932 2,769,344 
Page Industries Ltd. 2,385 790,760 
Petronet LNG Ltd. 274,985 952,125 
Pidilite Industries Ltd. 55,102 976,728 
Piramal Enterprises Ltd. 37,830 1,282,962 
Power Grid Corp. of India Ltd. 830,118 2,221,689 
Rec Ltd. 302,406 640,659 
Reliance Industries Ltd. 1,293,440 25,866,200 
Shree Cement Ltd. 3,831 1,088,540 
Shriram Transport Finance Co. Ltd. 67,812 1,081,680 
State Bank of India (a) 810,757 3,608,111 
Sun Pharmaceutical Industries Ltd. 382,718 2,514,838 
Tata Consultancy Services Ltd. 408,331 13,252,128 
Tata Motors Ltd. (a) 723,494 2,227,624 
Tata Power Co. Ltd. 480,482 467,740 
Tata Steel Ltd. 160,857 1,286,911 
Tech Mahindra Ltd. (a) 206,092 2,474,098 
Titan Co. Ltd. 140,549 2,337,976 
Ultratech Cemco Ltd. (a) 43,810 2,904,102 
United Spirits Ltd. (a) 133,807 1,077,995 
UPL Ltd. (a) 161,379 2,245,617 
Vedanta Ltd. 596,398 1,428,762 
Vodafone Idea Ltd. (a) 3,154,332 699,735 
Wipro Ltd. 686,601 2,946,638 
Yes Bank Ltd. 777,186 1,874,700 
Zee Entertainment Enterprises Ltd. 220,218 1,367,845 
TOTAL INDIA  223,622,199 
Indonesia - 2.0%   
PT Adaro Energy Tbk 6,299,800 576,929 
PT Astra International Tbk 9,207,100 4,926,606 
PT Bank Central Asia Tbk 4,474,000 9,026,491 
PT Bank Danamon Indonesia Tbk Series A 230,300 143,028 
PT Bank Mandiri (Persero) Tbk 8,512,500 4,637,645 
PT Bank Negara Indonesia (Persero) Tbk 3,422,600 2,305,752 
PT Bank Rakyat Indonesia Tbk 25,214,900 7,732,569 
PT Bank Tabungan Negara Tbk 1,914,900 339,979 
PT Bumi Serpong Damai Tbk (a) 3,439,900 346,404 
PT Charoen Pokphand Indonesia Tbk 3,362,700 1,244,789 
PT Gudang Garam Tbk 221,800 1,314,846 
PT Hanjaya Mandala Sampoerna Tbk 4,278,100 1,050,761 
PT Indah Kiat Pulp & Paper Tbk 1,199,500 622,898 
PT Indocement Tunggal Prakarsa Tbk 844,100 1,303,172 
PT Indofood CBP Sukses Makmur Tbk 1,001,400 683,412 
PT Indofood Sukses Makmur Tbk 1,914,500 933,739 
PT Jasa Marga Tbk 954,537 408,609 
PT Kalbe Farma Tbk 9,701,700 1,051,869 
PT Pabrik Kertas Tjiwi Kimia Tbk 616,300 435,735 
PT Pakuwon Jati Tbk 7,431,000 372,854 
PT Perusahaan Gas Negara Tbk Series B 4,791,700 780,122 
PT Semen Gresik (Persero) Tbk 1,359,300 1,287,758 
PT Surya Citra Media Tbk 2,568,600 335,270 
PT Tambang Batubara Bukit Asam Tbk 1,259,400 349,981 
PT Telekomunikasi Indonesia Tbk Series B 22,508,000 5,993,595 
PT Tower Bersama Infrastructure Tbk 885,700 245,510 
PT Unilever Indonesia Tbk 696,800 2,224,870 
PT United Tractors Tbk 772,300 1,472,790 
TOTAL INDONESIA  52,147,983 
Isle of Man - 0.1%   
NEPI Rockcastle PLC 177,115 1,476,227 
Korea (South) - 11.7%   
AMOREPACIFIC Corp. 14,780 2,641,077 
AMOREPACIFIC Group, Inc. 13,388 864,922 
BGF Retail Co. Ltd. 3,377 633,907 
BS Financial Group, Inc. 113,709 684,788 
Celltrion Healthcare Co. Ltd. 22,870 1,485,358 
Celltrion Pharm, Inc. 6,675 340,629 
Celltrion, Inc. (a) 37,805 6,885,388 
Cheil Industries, Inc. 34,557 3,043,009 
Cheil Worldwide, Inc. 30,123 658,611 
CJ CheilJedang Corp. 3,759 1,017,246 
CJ Corp. 6,353 652,214 
CJ O Shopping Co. Ltd. 4,955 931,821 
Daelim Industrial Co. 12,862 1,069,614 
Daewoo Engineering & Construction Co. Ltd. (a) 73,121 316,604 
Daewoo Shipbuilding & Marine Engineering Co. Ltd. (a) 16,540 412,786 
Db Insurance Co. Ltd. (a) 22,637 1,330,204 
DGB Financial Group Co. Ltd. 73,278 530,065 
Doosan Bobcat, Inc. 19,695 540,593 
E-Mart Co. Ltd. 9,612 1,420,318 
Fila Korea Ltd. 22,216 1,572,666 
GS Engineering & Construction Corp. 26,073 909,411 
GS Holdings Corp. 23,405 1,045,575 
GS Retail Co. Ltd. 11,671 392,539 
Hana Financial Group, Inc. 136,685 4,321,276 
Hankook Tire Co. Ltd. 34,156 1,166,400 
Hanmi Pharm Co. Ltd. 2,957 1,103,785 
Hanmi Science Co. Ltd. 5,525 356,939 
Hanon Systems 81,424 877,889 
Hanwha Chemical Corp. 48,877 864,998 
Hanwha Corp. 18,454 469,273 
Hanwha Life Insurance Co. Ltd. 128,176 439,362 
HDC Hyundai Development Co. 11,555 462,593 
HLB, Inc. (a) 15,182 1,094,295 
Hotel Shilla Co. 14,343 1,417,037 
Hyundai Department Store Co. Ltd. 5,955 519,267 
Hyundai Engineering & Construction Co. Ltd. 35,615 1,606,333 
Hyundai Fire & Marine Insurance Co. Ltd. 28,710 943,426 
Hyundai Glovis Co. Ltd. 8,663 1,187,059 
Hyundai Heavy Industries Co. Ltd. (a) 17,355 1,856,253 
Hyundai Mobis 30,942 6,180,372 
Hyundai Motor Co. 62,914 7,485,837 
Hyundai Robotics Co. Ltd. 4,482 1,316,865 
Hyundai Steel Co. 36,739 1,461,341 
Industrial Bank of Korea 116,262 1,413,310 
ING Life Insurance Korea Ltd. (d) 14,162 433,130 
Kakao Corp. 22,825 2,353,073 
Kangwon Land, Inc. 53,570 1,564,746 
KB Financial Group, Inc. 180,668 7,159,117 
KCC Corp. 2,528 770,990 
Kia Motors Corp. 119,727 4,654,296 
Korea Aerospace Industries Ltd. 33,972 1,021,486 
Korea Electric Power Corp. 116,937 2,840,942 
Korea Express Co. Ltd. (a) 3,452 467,084 
Korea Gas Corp. (a) 12,180 482,906 
Korea Investment Holdings Co. Ltd. 19,337 1,136,288 
Korea Zinc Co. Ltd. 3,876 1,506,765 
Korean Air Lines Co. Ltd. 20,795 592,224 
KT Corp. 216 5,074 
KT&G Corp. 53,131 4,655,769 
Kumho Petro Chemical Co. Ltd. (a) 8,444 665,939 
LG Chemical Ltd. 20,867 6,471,583 
LG Corp. 43,427 2,723,491 
LG Display Co. Ltd. 106,178 1,811,955 
LG Electronics, Inc. 48,473 3,156,548 
LG Household & Health Care Ltd. 4,275 5,222,507 
LG Innotek Co. Ltd. 6,132 645,330 
LG Telecom Ltd. 47,800 587,229 
Lotte Chemical Corp. 7,827 1,805,439 
Lotte Confectionery Co. Ltd. (a) 12,533 528,126 
Lotte Shopping Co. Ltd. 4,913 751,294 
Medy-Tox, Inc. 2,015 967,850 
Mirae Asset Daewoo Co. Ltd. 183,320 1,228,422 
NAVER Corp. 63,645 6,533,945 
NCSOFT Corp. 7,975 3,603,792 
Netmarble Corp. (d) 11,675 1,278,823 
Oci Co. Ltd. 7,816 625,140 
Orion Corp./Republic of Korea 9,501 790,927 
Ottogi Corp. 533 332,435 
Pearl Abyss Corp. (a) 2,565 384,086 
POSCO 35,687 7,839,083 
POSCO Chemtech Co. Ltd. 10,342 509,099 
Posco International Corp. 21,722 341,503 
S-Oil Corp. 20,608 1,632,338 
S1 Corp. 7,435 625,965 
Samsung Biologics Co. Ltd. (a)(d) 7,523 2,197,421 
Samsung Card Co. Ltd. 12,635 402,710 
Samsung Electro-Mechanics Co. Ltd. 25,492 2,376,167 
Samsung Electronics Co. Ltd. 2,162,282 85,171,631 
Samsung Engineering Co. Ltd. (a) 71,989 1,054,469 
Samsung Fire & Marine Insurance Co. Ltd. 14,008 3,658,415 
Samsung Heavy Industries Co. Ltd. (a) 201,775 1,424,894 
Samsung Life Insurance Co. Ltd. 31,890 2,325,977 
Samsung SDI Co. Ltd. 24,972 5,073,735 
Samsung SDS Co. Ltd. 15,859 2,956,506 
Samsung Securities Co. Ltd. 29,313 897,766 
Shinhan Financial Group Co. Ltd. 193,934 7,355,784 
Shinsegae Co. Ltd. 3,397 992,242 
SillaJen, Inc. (a) 27,162 1,526,099 
SK C&C Co. Ltd. 14,441 3,182,203 
SK Energy Co. Ltd. 29,448 4,617,022 
SK Hynix, Inc. 263,874 17,908,820 
SK Telecom Co. Ltd. 9,155 1,948,736 
STX Pan Ocean Co. Ltd. (Korea) (a) 105,506 431,900 
ViroMed Co. Ltd. (a) 6,234 1,394,069 
Woongjin Coway Co. Ltd. 23,486 1,771,523 
Woori Financial Group, Inc. (a) 215,860 2,568,415 
Woori Investment & Securities Co. Ltd. 62,018 732,595 
Yuhan Corp. 3,895 821,490 
TOTAL KOREA (SOUTH)  299,420,583 
Luxembourg - 0.0%   
Reinet Investments SCA 67,761 1,141,445 
Malaysia - 2.0%   
AirAsia Group BHD 669,900 442,333 
Alliance Bank Malaysia Bhd 469,800 461,335 
AMMB Holdings Bhd 728,400 787,507 
Axiata Group Bhd 1,256,971 1,206,960 
British American Tobacco (Malaysia) Bhd 63,000 531,184 
Bumiputra-Commerce Holdings Bhd 2,258,664 2,878,984 
Dialog Group Bhd 1,680,000 1,308,405 
DiGi.com Bhd 1,429,100 1,590,001 
Fraser & Neave Holdings BHD 55,600 469,329 
Gamuda Bhd 864,600 731,914 
Genting Bhd 984,800 1,676,863 
Genting Malaysia Bhd 1,361,300 1,047,027 
Genting Plantations Bhd 103,500 263,350 
Hap Seng Consolidated Bhd 271,200 648,073 
Hartalega Holdings Bhd 587,700 714,991 
Hong Leong Bank Bhd 302,000 1,459,417 
Hong Leong Credit Bhd 101,600 472,307 
IHH Healthcare Bhd 1,010,700 1,359,171 
IJM Corp. Bhd 1,270,700 719,177 
IOI Corp. Bhd 824,100 898,946 
IOI Properties Group Bhd 672,875 222,963 
Kuala Lumpur Kepong Bhd 196,900 1,178,209 
Malayan Banking Bhd 1,760,967 3,939,762 
Malaysia Airports Holdings Bhd 400,706 739,482 
Maxis Bhd 1,093,200 1,417,234 
MISC Bhd 493,800 824,095 
Nestle (Malaysia) BHD 26,800 947,026 
Petronas Chemicals Group Bhd 1,099,200 2,392,744 
Petronas Dagangan Bhd 87,900 514,070 
Petronas Gas Bhd 316,700 1,354,276 
PPB Group Bhd 260,520 1,182,091 
Press Metal Bhd 611,000 701,959 
Public Bank Bhd 1,325,400 7,212,843 
QL Resources Bhd 281,100 463,684 
RHB Capital Bhd 437,689 630,941 
Sime Darby Bhd 1,055,849 592,471 
Sime Darby Plantation Bhd 1,046,149 1,305,630 
Sime Darby Property Bhd 1,350,749 362,639 
SP Setia Bhd 686,153 376,724 
Telekom Malaysia Bhd 494,480 348,032 
Tenaga Nasional Bhd 1,426,200 4,235,999 
Top Glove Corp. Bhd 620,500 730,883 
Westports Holdings Bhd 430,000 395,211 
YTL Corp. Bhd 1,406,043 384,286 
TOTAL MALAYSIA  52,120,528 
Mexico - 2.6%   
Alfa SA de CV Series A 1,389,100 1,403,920 
Alsea S.A.B. de CV 219,200 490,021 
America Movil S.A.B. de CV Series L 15,275,900 11,377,706 
Banco Santander Mexico SA 841,595 1,413,479 
CEMEX S.A.B. de CV unit (a) 6,890,718 3,187,699 
Coca-Cola FEMSA S.A.B. de CV unit 240,500 1,534,131 
El Puerto de Liverpool S.A.B. de CV Class C 82,240 532,368 
Embotelladoras Arca S.A.B. de CV 201,300 1,142,641 
Fibra Uno Administracion SA de CV 1,539,400 2,294,758 
Fomento Economico Mexicano S.A.B. de CV unit 879,900 8,583,292 
Gruma S.A.B. de CV Series B 92,355 923,124 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 163,100 1,658,380 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 94,745 1,560,529 
Grupo Bimbo S.A.B. de CV Series A 745,300 1,659,826 
Grupo Carso SA de CV Series A1 208,900 810,024 
Grupo Financiero Banorte S.A.B. de CV Series O 1,178,000 7,446,018 
Grupo Financiero Inbursa S.A.B. de CV Series O 1,065,300 1,630,732 
Grupo Mexico SA de CV Series B 1,592,107 4,668,551 
Grupo Televisa SA de CV 1,116,100 2,270,144 
Industrias Penoles SA de CV 61,085 701,046 
Infraestructura Energetica Nova S.A.B. de CV 245,100 1,071,405 
Kimberly-Clark de Mexico SA de CV Series A 699,300 1,208,796 
Megacable Holdings S.A.B. de CV unit 130,400 574,420 
Mexichem S.A.B. de CV 479,255 1,112,580 
Promotora y Operadora de Infraestructura S.A.B. de CV 104,970 1,067,765 
Wal-Mart de Mexico SA de CV Series V 2,375,500 6,980,739 
TOTAL MEXICO  67,304,094 
Netherlands - 0.1%   
X5 Retail Group NV:   
GDR 51,269 1,556,556 
GDR (Reg. S) 4,732 143,616 
TOTAL NETHERLANDS  1,700,172 
Pakistan - 0.0%   
Habib Bank Ltd. 236,000 212,651 
MCB Bank Ltd. 155,000 208,389 
Oil & Gas Development Co. Ltd. 254,800 253,862 
TOTAL PAKISTAN  674,902 
Peru - 0.1%   
Compania de Minas Buenaventura SA (c) 6,329 101,448 
Compania de Minas Buenaventura SA sponsored ADR 75,254 1,219,867 
TOTAL PERU  1,321,315 
Philippines - 1.1%   
Aboitiz Equity Ventures, Inc. 913,030 980,766 
Aboitiz Power Corp. 673,800 490,770 
Alliance Global Group, Inc. 1,763,700 509,756 
Ayala Corp. 115,995 2,025,879 
Ayala Land, Inc. 3,368,200 3,185,344 
Bank of the Philippine Islands (BPI) 401,317 657,878 
BDO Unibank, Inc. 905,336 2,343,799 
DMCI Holdings, Inc. 1,693,250 365,083 
Globe Telecom, Inc. 14,250 490,050 
GT Capital Holdings, Inc. 39,621 662,136 
International Container Terminal Services, Inc. 397,890 972,432 
JG Summit Holdings, Inc. 1,317,430 1,679,876 
Jollibee Food Corp. 199,730 1,175,382 
Manila Electric Co. 97,620 726,115 
Megaworld Corp. 4,890,600 529,122 
Metro Pacific Investments Corp. 6,277,800 554,280 
Metropolitan Bank & Trust Co. 704,174 1,010,141 
Philippine Long Distance Telephone Co. 38,085 904,589 
Robinsons Land Corp. 914,251 432,750 
Security Bank Corp. 101,960 354,575 
SM Investments Corp. 111,080 2,038,756 
SM Prime Holdings, Inc. 4,580,200 3,667,877 
Universal Robina Corp. 405,690 1,193,713 
TOTAL PHILIPPINES  26,951,069 
Poland - 1.1%   
Alior Bank SA (a) 39,759 610,204 
Bank Handlowy w Warszawie SA 13,365 217,536 
Bank Millennium SA (a) 285,854 721,470 
Bank Polska Kasa Opieki SA 78,076 2,323,003 
Bank Zachodni WBK SA 16,432 1,706,216 
BRE Bank SA 6,458 748,641 
CD Projekt RED SA 30,625 1,722,203 
Cyfrowy Polsat SA (a) 111,144 770,733 
Dino Polska SA (a)(d) 21,217 705,114 
Grupa Lotos SA 40,232 875,504 
Jastrzebska Spolka Weglowa SA (a) 23,735 360,548 
KGHM Polska Miedz SA (Bearer) (a) 64,045 1,723,699 
LPP SA 593 1,329,088 
NG2 SA 13,160 714,227 
Polish Oil & Gas Co. SA 795,237 1,206,970 
Polska Grupa Energetyczna SA (a) 368,718 918,551 
Polski Koncern Naftowy Orlen SA 136,061 3,486,397 
Powszechna Kasa Oszczednosci Bank SA 398,878 4,095,820 
Powszechny Zaklad Ubezpieczen SA 273,991 3,011,323 
Telekomunikacja Polska SA (a) 284,179 367,062 
TOTAL POLAND  27,614,309 
Qatar - 0.9%   
Barwa Real Estate Co. (a) 85,708 817,119 
Ezdan Holding Group (a) 364,766 1,073,033 
Industries Qatar QSC (a) 82,705 2,748,693 
Masraf al Rayan (a) 168,295 1,677,981 
Qatar Electricity & Water Co. (a) 22,474 1,030,813 
Qatar Insurance Co. SAQ (a) 71,554 753,324 
Qatar Islamic Bank (a) 52,076 2,384,418 
Qatar National Bank SAQ (a) 204,724 11,020,767 
Qatar Telecom (Qtel) Q.S.C. (a) 39,010 696,464 
The Commercial Bank of Qatar (a) 87,344 1,221,125 
TOTAL QATAR  23,423,737 
Russia - 3.5%   
Alrosa Co. Ltd. 1,167,173 1,701,038 
Gazprom OAO 2,647,016 6,726,673 
Gazprom OAO sponsored ADR (Reg. S) 1,115,252 5,569,568 
Inter Rao Ues JSC 13,199,744 800,278 
Lukoil PJSC 145,064 12,379,400 
Lukoil PJSC sponsored ADR 77,175 6,542,897 
Magnit OJSC GDR (Reg. S) 162,010 2,310,263 
Magnitogorsk Iron & Steel Works PJSC 893,200 610,605 
Magnitogorsk Iron & Steel Works PJSC sponsored GDR (Reg. S) 5,400 47,844 
MMC Norilsk Nickel PJSC 17,756 3,938,622 
MMC Norilsk Nickel PJSC sponsored ADR 106,819 2,371,382 
Mobile TeleSystems OJSC sponsored ADR 227,851 1,795,466 
Moscow Exchange MICEX-RTS OAO 622,291 876,320 
NOVATEK OAO GDR (Reg. S) 41,209 7,940,974 
Novolipetsk Steel OJSC 508,812 1,346,471 
Novolipetsk Steel OJSC GDR (Reg. S) 3,400 89,556 
PhosAgro OJSC GDR (Reg. S) 46,027 579,480 
Polyus PJSC 11,431 890,612 
Polyus PJSC unit 1,400 54,880 
Rosneft Oil Co. OJSC 341,204 2,262,864 
Rosneft Oil Co. OJSC GDR (Reg. S) 191,497 1,273,838 
RusHydro PJSC 325,695 2,720 
RusHydro PJSC rights (a) 382,863 0 
Sberbank of Russia 4,647,686 16,282,494 
Sberbank of Russia sponsored ADR 64,000 914,880 
Severstal PAO 51,524 832,911 
Severstal PAO GDR (Reg. S) 44,232 716,116 
Surgutneftegas OJSC 1,900,849 722,194 
Surgutneftegas OJSC sponsored ADR 157,497 589,354 
Tatneft PAO 417,095 4,886,604 
Tatneft PAO sponsored ADR 46,473 3,265,193 
VTB Bank OJSC (a) 1,252,065,800 687,456 
VTB Bank OJSC sponsored GDR (Reg. S) 70,330 78,488 
TOTAL RUSSIA  89,087,441 
Singapore - 0.0%   
BOC Aviation Ltd. Class A (d) 90,200 776,119 
South Africa - 5.8%   
Adcock Ingram Holdings Ltd. warrants 7/26/19 (a) 859 23 
Anglo American Platinum Ltd. 24,390 1,230,958 
AngloGold Ashanti Ltd. 187,227 2,227,602 
Aspen Pharmacare Holdings Ltd. 178,093 1,281,074 
Barclays Africa Group Ltd. 328,323 3,770,034 
Bidcorp Ltd. 151,960 3,208,847 
Bidvest Group Ltd. 153,905 2,335,741 
Capitec Bank Holdings Ltd. 18,209 1,701,488 
Clicks Group Ltd. 116,225 1,589,695 
Discovery Ltd. 165,030 1,661,952 
Exxaro Resources Ltd. 114,349 1,305,601 
FirstRand Ltd. 1,525,181 7,240,478 
Fortress (REIT) Ltd.:   
Class A 488,584 658,162 
Class B 261,906 198,833 
Foschini Ltd. 103,519 1,337,027 
Gold Fields Ltd. 374,589 1,411,719 
Growthpoint Properties Ltd. 1,354,150 2,355,208 
Hyprop Investments Ltd. 112,286 549,460 
Investec Ltd. 127,038 811,249 
Kumba Iron Ore Ltd. 29,284 877,496 
Liberty Holdings Ltd. 56,012 405,260 
Life Healthcare Group Holdings Ltd. 602,591 1,097,343 
MMI Holdings Ltd. (a) 385,841 481,458 
Mondi Ltd. 54,345 1,197,793 
Mr Price Group Ltd. 117,305 1,776,427 
MTN Group Ltd. 769,972 5,563,929 
MultiChoice Group Ltd. (a) 199,212 1,788,800 
Naspers Ltd. Class N 198,954 51,181,023 
Nedbank Group Ltd. 182,176 3,388,308 
Netcare Ltd. 510,382 855,572 
Oceana Group Ltd. 19,090 93,415 
Old Mutual Ltd. 2,243,701 3,605,920 
Pick 'n Pay Stores Ltd. 159,627 774,088 
PSG Group Ltd. 68,203 1,263,841 
Rand Merchant Insurance Holdings Ltd. 304,409 736,923 
Redefine Properties Ltd. 2,508,123 1,727,019 
Remgro Ltd. 240,635 3,265,941 
Resilient Property Income Fund Ltd. 119,986 476,253 
RMB Holdings Ltd. 321,440 1,875,834 
Sanlam Ltd. 810,553 4,334,660 
Sappi Ltd. 243,945 1,162,682 
Sasol Ltd. 254,974 8,459,130 
Shoprite Holdings Ltd. 202,751 2,442,650 
Spar Group Ltd. 88,677 1,202,610 
Standard Bank Group Ltd. 588,059 8,180,618 
Telkom SA Ltd. 122,359 725,258 
Tiger Brands Ltd. 73,795 1,281,675 
Truworths International Ltd. 204,860 1,082,514 
Vodacom Group Ltd. 293,510 2,366,136 
Woolworths Holdings Ltd. 458,915 1,530,572 
TOTAL SOUTH AFRICA  150,076,299 
Taiwan - 10.9%   
Acer, Inc. 1,278,994 867,094 
Advantech Co. Ltd. 159,459 1,290,038 
ASE Technology Holding Co. Ltd. 1,554,927 3,611,866 
Asia Cement Corp. 1,005,153 1,358,007 
ASUSTeK Computer, Inc. 323,000 2,466,766 
AU Optronics Corp. 3,975,000 1,421,568 
Catcher Technology Co. Ltd. 299,000 2,365,721 
Cathay Financial Holding Co. Ltd. 3,719,641 5,380,492 
Chang Hwa Commercial Bank 2,495,288 1,493,846 
Cheng Shin Rubber Industry Co. Ltd. 890,937 1,189,281 
Chicony Electronics Co. Ltd. 247,766 610,154 
China Airlines Ltd. 1,185,043 375,815 
China Development Finance Holding Corp. 6,210,800 1,999,788 
China Life Insurance Co. Ltd. 1,215,728 1,011,074 
China Steel Corp. 5,715,204 4,614,405 
Chinatrust Financial Holding Co. Ltd. 8,002,826 5,477,308 
Chunghwa Telecom Co. Ltd. 1,723,000 6,206,424 
Compal Electronics, Inc. 1,894,000 1,222,746 
Delta Electronics, Inc. 944,381 4,966,084 
E.SUN Financial Holdings Co. Ltd. 4,431,224 3,635,089 
ECLAT Textile Co. Ltd. 81,613 1,162,052 
EVA Airways Corp. 987,347 484,056 
Evergreen Marine Corp. (Taiwan) 1,036,775 454,608 
Far Eastern Textile Ltd. 1,483,705 1,618,046 
Far EasTone Telecommunications Co. Ltd. 723,000 1,773,458 
Feng Tay Enterprise Co. Ltd. 152,520 1,236,369 
First Financial Holding Co. Ltd. 4,479,443 3,196,289 
Formosa Chemicals & Fibre Corp. 1,597,760 5,739,155 
Formosa Petrochemical Corp. 568,000 2,104,589 
Formosa Plastics Corp. 2,023,520 7,333,967 
Formosa Taffeta Co. Ltd. 375,000 452,034 
Foxconn Technology Co. Ltd. 430,587 964,230 
Fubon Financial Holding Co. Ltd. 3,026,334 4,465,757 
Giant Manufacturing Co. Ltd. 147,000 1,120,267 
GlobalWafers Co. Ltd. 99,000 1,079,639 
Highwealth Construction Corp. 356,000 569,678 
HIWIN Technologies Corp. 99,570 945,693 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 5,977,869 16,810,459 
Hotai Motor Co. Ltd. 126,000 1,904,149 
Hua Nan Financial Holdings Co. Ltd. 3,416,181 2,233,087 
Innolux Corp. 4,135,347 1,324,831 
Inventec Corp. 1,089,865 874,657 
Largan Precision Co. Ltd. 46,000 6,921,882 
Lite-On Technology Corp. 970,279 1,367,408 
MediaTek, Inc. 682,292 6,524,409 
Mega Financial Holding Co. Ltd. 4,946,413 4,746,008 
Micro-Star International Co. Ltd. 310,000 858,715 
Nan Ya Plastics Corp. 2,341,860 5,918,687 
Nanya Technology Corp. 487,000 1,030,671 
Nien Made Enterprise Co. Ltd. 71,000 556,016 
Novatek Microelectronics Corp. 259,000 1,688,839 
Pegatron Corp. 897,000 1,692,289 
Phison Electronics Corp. 65,000 611,045 
Pou Chen Corp. 1,027,000 1,247,940 
Powertech Technology, Inc. 301,000 750,016 
President Chain Store Corp. 262,000 2,441,784 
Quanta Computer, Inc. 1,230,000 2,356,352 
Realtek Semiconductor Corp. 204,401 1,382,429 
Ruentex Development Co. Ltd. 252,480 346,423 
Ruentex Industries Ltd. 165,200 394,530 
Shin Kong Financial Holding Co. Ltd. 4,794,142 1,355,925 
Sinopac Holdings Co. 4,939,591 1,902,179 
Standard Foods Corp. 179,812 318,287 
Synnex Technology International Corp. 615,500 766,835 
TaiMed Biologics, Inc. (a) 77,000 391,204 
Taishin Financial Holdings Co. Ltd. 4,541,707 2,057,598 
Taiwan Business Bank 1,671,771 689,764 
Taiwan Cement Corp. 2,096,400 2,849,291 
Taiwan Cooperative Financial Holding Co. Ltd. 3,987,818 2,645,469 
Taiwan High Speed Rail Corp. 904,000 1,099,942 
Taiwan Mobile Co. Ltd. 728,900 2,665,384 
Taiwan Semiconductor Manufacturing Co. Ltd. 11,162,000 93,713,479 
Tatung Co. Ltd. (a) 822,000 633,085 
The Shanghai Commercial & Savings Bank Ltd. 1,411,000 2,273,892 
Unified-President Enterprises Corp. 2,191,983 5,206,509 
United Microelectronics Corp. 5,296,000 2,309,235 
Vanguard International Semiconductor Corp. 384,000 851,207 
Walsin Technology Corp. 138,000 844,023 
Win Semiconductors Corp. 154,000 1,031,584 
Winbond Electronics Corp. 1,225,000 636,245 
Wistron Corp. 1,297,008 1,074,474 
WPG Holding Co. Ltd. 685,200 903,563 
Yageo Corp. 116,085 1,143,870 
Yuanta Financial Holding Co. Ltd. 4,556,952 2,639,617 
TOTAL TAIWAN  280,248,740 
Thailand - 2.2%   
Advanced Info Service PCL (For. Reg.) 484,900 2,886,536 
Airports of Thailand PCL (For. Reg.) 1,950,500 4,186,081 
Bangkok Bank PCL (For. Reg.) 107,300 702,615 
Bangkok Dusit Medical Services PCL (For. Reg.) 1,804,500 1,441,678 
Bangkok Expressway and Metro PCL 3,836,500 1,310,186 
Banpu PCL (For. Reg.) 989,500 508,430 
Berli Jucker PCL (For. Reg) 546,600 881,958 
BTS Group Holdings PCL 2,682,200 991,618 
Bumrungrad Hospital PCL (For. Reg.) 153,100 849,023 
C.P. ALL PCL (For. Reg.) 2,292,300 5,566,014 
Central Pattana PCL (For. Reg.) 609,700 1,442,229 
Charoen Pokphand Foods PCL (For. Reg.) 1,643,420 1,403,092 
Delta Electronics PCL (For. Reg.) 88,500 207,265 
Electricity Generating PCL (For. Reg.) 54,000 500,791 
Energy Absolute PCL 554,700 968,889 
Glow Energy PCL (For. Reg.) 245,800 704,651 
Gulf Energy Development PCL 256,900 841,108 
Home Product Center PCL (For. Reg.) 1,820,606 895,544 
Indorama Ventures PCL (For. Reg.) 849,900 1,218,232 
IRPC PCL (For. Reg.) 4,251,900 752,667 
Kasikornbank PCL 232,500 1,391,321 
Kasikornbank PCL (For. Reg.) 583,100 3,480,240 
Krung Thai Bank PCL (For. Reg.) 1,486,070 879,979 
Land & House PCL (For. Reg.) 1,317,200 462,212 
Minor International PCL (For. Reg.) 1,083,780 1,273,338 
Muangthai Leasing PCL 261,600 422,101 
PTT Exploration and Production PCL (For. Reg.) 620,839 2,596,757 
PTT Global Chemical PCL (For. Reg.) 1,020,539 2,198,232 
PTT PCL (For. Reg.) 4,747,300 7,250,909 
Robinsons Department Store PCL (For. Reg.) 214,100 390,736 
Siam Cement PCL (For. Reg.) 173,050 2,504,867 
Siam Commercial Bank PCL (For. Reg.) 850,600 3,491,144 
Thai Oil PCL (For. Reg.) 467,500 1,014,314 
Thai Union Frozen Products PCL (For. Reg.) 906,020 536,501 
TMB PCL (For. Reg.) 4,744,400 300,264 
True Corp. PCL (For. Reg.) 4,447,019 717,542 
TOTAL THAILAND  57,169,064 
Turkey - 0.5%   
Akbank TAS 1,314,246 1,347,967 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 89,859 298,481 
Arcelik A/S (a) 86,516 265,918 
Aselsan A/S 146,803 502,883 
Bim Birlesik Magazalar A/S JSC 97,697 1,359,791 
Eregli Demir ve Celik Fabrikalari T.A.S. 646,715 992,795 
Ford Otomotiv Sanayi A/S 30,812 272,133 
Haci Omer Sabanci Holding A/S 402,583 519,514 
Koc Holding A/S 358,586 973,553 
Petkim Petrokimya Holding A/S 358,832 268,813 
TAV Havalimanlari Holding A/S 79,468 336,949 
Tupras Turkiye Petrol Rafinerileri A/S 57,509 1,188,366 
Turk Hava Yollari AO (a) 241,435 579,017 
Turk Sise ve Cam Fabrikalari A/S 294,577 301,148 
Turkcell Iletisim Hizmet A/S 505,820 1,059,637 
Turkiye Garanti Bankasi A/S 1,060,703 1,452,336 
Turkiye Halk Bankasi A/S 275,771 270,368 
Turkiye Is Bankasi A/S Series C 689,116 619,025 
TOTAL TURKEY  12,608,694 
United Arab Emirates - 0.7%   
Abu Dhabi Commercial Bank PJSC 1,261,025 3,391,892 
Aldar Properties PJSC 1,782,270 863,684 
Damac Properties Dubai Co. PJSC 810,055 273,462 
DP World Ltd. 76,493 1,529,860 
Dubai Islamic Bank Pakistan Ltd. (a) 723,227 1,017,950 
Emaar Development PJSC (a) 351,344 374,956 
Emaar Malls Group PJSC (a) 853,941 404,519 
Emaar Properties PJSC 1,604,703 2,096,994 
Emirates Telecommunications Corp. 785,545 3,571,485 
National Bank of Abu Dhabi PJSC (a) 1,235,730 5,382,759 
TOTAL UNITED ARAB EMIRATES  18,907,561 
United States of America - 0.4%   
Southern Copper Corp. 39,245 1,507,793 
Yum China Holdings, Inc. 163,055 7,751,635 
TOTAL UNITED STATES OF AMERICA  9,259,428 
TOTAL COMMON STOCKS   
(Cost $2,109,776,736)  2,368,893,859 
Nonconvertible Preferred Stocks - 3.4%   
Brazil - 2.5%   
Banco Bradesco SA (PN) 1,830,175 16,606,979 
Braskem SA (PN-A) 78,200 952,895 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) (a) 110,000 972,049 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 72,000 1,771,952 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 394,433 1,482,733 
Gerdau SA 469,700 1,694,998 
Itau Unibanco Holding SA 2,198,931 18,971,675 
Itausa-Investimentos Itau SA (PN) 1,980,028 6,014,163 
Lojas Americanas SA (PN) 339,184 1,359,815 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) 1,744,200 12,059,183 
Telefonica Brasil SA 202,900 2,409,796 
TOTAL BRAZIL  64,296,238 
Chile - 0.1%   
Embotelladora Andina SA Class B 154,132 550,260 
Sociedad Quimica y Minera de Chile SA (PN-B) 45,187 1,611,134 
TOTAL CHILE  2,161,394 
Colombia - 0.1%   
Bancolombia SA (PN) 164,612 2,082,311 
Grupo Aval Acciones y Valores SA 1,737,758 669,144 
Grupo de Inversiones Suramerica SA 48,475 522,644 
TOTAL COLOMBIA  3,274,099 
Korea (South) - 0.6%   
AMOREPACIFIC Corp. 3,817 383,664 
CJ Corp. (a)(c) 802 25,263 
Hyundai Motor Co. 9,594 667,618 
Hyundai Motor Co. Series 2 17,650 1,326,771 
LG Chemical Ltd. 3,404 586,337 
LG Household & Health Care Ltd. 918 638,020 
Samsung Electronics Co. Ltd. 377,580 12,066,886 
TOTAL KOREA (SOUTH)  15,694,559 
Russia - 0.1%   
AK Transneft OAO 204 530,065 
Surgutneftegas OJSC 3,007,140 1,821,551 
TOTAL RUSSIA  2,351,616 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $78,791,473)  87,777,906 
 Principal Amount Value 
Nonconvertible Bonds - 0.0%   
India - 0.0%   
NTPC Ltd. 8.49% 3/25/25
(Cost $52,909) 		INR264,162 47,503 
 Shares Value 
Money Market Funds - 4.6%   
Fidelity Cash Central Fund, 2.49% (e) 94,741,645 94,760,593 
Fidelity Securities Lending Cash Central Fund 2.49% (e)(f) 23,075,567 23,077,875 
TOTAL MONEY MARKET FUNDS   
(Cost $117,838,056)  117,838,468 
TOTAL INVESTMENT IN SECURITIES - 100.3%   
(Cost $2,306,459,174)  2,574,557,736 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (6,635,409) 
NET ASSETS - 100%  $2,567,922,327 

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) 2,076 June 2019 $112,124,760 $1,238,010 $1,238,010 

The notional amount of futures purchased as a percentage of Net Assets is 4.4%

Currency Abbreviations

INR – Indian rupee

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 $31,970,916 or 1.2% of net assets.

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

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

Affiliated Central Funds

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 $1,388,544 
Fidelity Securities Lending Cash Central Fund 101,799 
Total $1,490,343 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $295,093,979 $122,268,665 $172,825,314 $-- 
Consumer Discretionary 348,376,794 294,940,529 53,408,647 27,618 
Consumer Staples 155,720,154 155,696,383 -- 23,771 
Energy 195,189,890 147,249,232 47,940,658 -- 
Financials 597,220,528 468,320,660 127,832,700 1,067,168 
Health Care 64,846,237 62,653,918 2,192,319 -- 
Industrials 124,208,293 124,183,030 -- 25,263 
Information Technology 364,994,785 238,515,907 126,459,341 19,537 
Materials 175,020,508 154,953,487 19,937,534 129,487 
Real Estate 76,383,960 76,383,960 -- -- 
Utilities 59,616,637 56,775,695 2,840,942 -- 
Corporate Bonds 47,503 -- 47,503 -- 
Money Market Funds 117,838,468 117,838,468 -- -- 
Total Investments in Securities: $2,574,557,736 $2,019,779,934 $553,484,958 $1,292,844 
Derivative Instruments:     
Assets     
Futures Contracts $1,238,010 $1,238,010 $-- $-- 
Total Assets $1,238,010 $1,238,010 $-- $-- 
Total Derivative Instruments: $1,238,010 $1,238,010 $-- $-- 

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, 2019. 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) $1,238,010 $0 
Total Equity Risk 1,238,010 0 
Total Value of Derivatives $1,238,010 $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 distributable earnings.

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, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $22,287,338) — See accompanying schedule:
Unaffiliated issuers (cost $2,188,621,118) 		$2,456,719,268  
Fidelity Central Funds (cost $117,838,056) 117,838,468  
Total Investment in Securities (cost $2,306,459,174)  $2,574,557,736 
Segregated cash with brokers for derivative instruments  5,158,400 
Foreign currency held at value (cost $7,553,524)  7,466,128 
Receivable for investments sold  1,154 
Receivable for fund shares sold  8,104,267 
Dividends receivable  2,448,898 
Interest receivable  33 
Distributions receivable from Fidelity Central Funds  159,943 
Other receivables  3,349 
Total assets  2,597,899,908 
Liabilities   
Payable for investments purchased $843,325  
Payable for fund shares redeemed 4,098,747  
Accrued management fee 156,774  
Payable for daily variation margin on futures contracts 146,964  
Other payables and accrued expenses 1,656,910  
Collateral on securities loaned 23,074,861  
Total liabilities  29,977,581 
Net Assets  $2,567,922,327 
Net Assets consist of:   
Paid in capital  $2,378,627,121 
Total distributable earnings (loss)  189,295,206 
Net Assets  $2,567,922,327 
Net Asset Value and Maximum Offering Price   
Net Asset Value, offering price and redemption price per share ($2,567,922,327 ÷ 239,876,422 shares)  $10.71 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $17,536,871 
Interest  70,533 
Income from Fidelity Central Funds  1,490,343 
Income before foreign taxes withheld  19,097,747 
Less foreign taxes withheld  (1,915,116) 
Total income  17,182,631 
Expenses   
Management fee $816,074  
Independent trustees' fees and expenses 4,152  
Commitment fees 2,781  
Total expenses before reductions 823,007  
Expense reductions (14,248)  
Total expenses after reductions  808,759 
Net investment income (loss)  16,373,872 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $161) (9,397,135)  
Fidelity Central Funds (451)  
Foreign currency transactions (535,165)  
Futures contracts 5,818,357  
Total net realized gain (loss)  (4,114,394) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $1,008,118) 243,560,262  
Fidelity Central Funds 412  
Assets and liabilities in foreign currencies (59,587)  
Futures contracts 7,472,230  
Total change in net unrealized appreciation (depreciation)  250,973,317 
Net gain (loss)  246,858,923 
Net increase (decrease) in net assets resulting from operations  $263,232,795 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $16,373,872 $38,611,827 
Net realized gain (loss) (4,114,394) (15,520,773) 
Change in net unrealized appreciation (depreciation) 250,973,317 (249,379,729) 
Net increase (decrease) in net assets resulting from operations 263,232,795 (226,288,675) 
Distributions to shareholders (37,459,724) (26,736,653) 
Share transactions - net increase (decrease) 732,434,984 470,526,076 
Redemption fees – 26,623 
Total increase (decrease) in net assets 958,208,055 217,527,371 
Net Assets   
Beginning of period 1,609,714,272 1,392,186,901 
End of period $2,567,922,327 $1,609,714,272 

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


Financial Highlights

Fidelity Emerging Markets Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2019 2018 2017 2016 2015 2014 
Selected Per–Share Data       
Net asset value, beginning of period $9.62 $11.23 $9.04 $8.43 $10.18 $10.06 
Income from Investment Operations       
Net investment income (loss)A .08 .27 .24 .19 .26 .27 
Net realized and unrealized gain (loss) 1.22 (1.66) 2.09 .61 (1.82) .06 
Total from investment operations 1.30 (1.39) 2.33 .80 (1.56) .33 
Distributions from net investment income (.21) (.20) (.14) (.19) (.19) (.21) 
Distributions from net realized gain – (.01) – – – – 
Total distributions (.21) (.22)B (.14) (.19) (.19) (.21) 
Redemption fees added to paid in capitalA – –C –C –C –C –C 
Net asset value, end of period $10.71 $9.62 $11.23 $9.04 $8.43 $10.18 
Total ReturnD,E 13.77% (12.65)% 26.29% 9.98% (15.46)% 3.40% 
Ratios to Average Net AssetsF,G       
Expenses before reductions .08%H .08% .09% .19% .25% .25% 
Expenses net of fee waivers, if any .08%H .08% .09% .10% .10% .10% 
Expenses net of all reductions .08%H .08% .09% .10% .10% .10% 
Net investment income (loss) 1.56%H 2.46% 2.36% 2.26% 2.76% 2.71% 
Supplemental Data       
Net assets, end of period (000 omitted) $2,567,922 $593,466 $192,681 $269 $243 $111 
Portfolio turnover rateI 2%H 4% 4% 25% 1% 8% 

 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 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.


Fidelity® Global ex U.S. Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.3 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 1.3 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail) 1.1 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 0.9 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 0.9 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.9 
Novartis AG (Switzerland, Pharmaceuticals) 0.8 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.8 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
 9.4 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 22.3 
Industrials 11.1 
Consumer Discretionary 10.9 
Consumer Staples 8.9 
Information Technology 8.5 
Health Care 7.0 
Materials 7.0 
Energy 7.0 
Communication Services 6.7 
Real Estate 2.9 

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Japan 15.0% 
   United Kingdom 10.2% 
   Canada 6.8% 
   France 6.6% 
   Germany 5.7% 
   Switzerland 5.6% 
   United States of America 5.4% 
   Cayman Islands 4.7% 
   Australia 4.3% 
   Other* 35.7% 


 * 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, 2019

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

Fidelity® Global ex U.S. Index Fund

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.0%   
 Shares Value 
Australia - 4.3%   
AGL Energy Ltd. 172,640 $2,705,448 
Alumina Ltd. 620,505 979,832 
Amcor Ltd. 289,991 3,276,999 
AMP Ltd. 726,556 1,162,661 
APA Group unit 293,449 1,990,059 
Aristocrat Leisure Ltd. 146,018 2,684,555 
ASX Ltd. 48,502 2,547,266 
Aurizon Holdings Ltd. 506,930 1,701,035 
Australia & New Zealand Banking Group Ltd. 741,373 14,215,560 
Bank of Queensland Ltd. 100,419 656,227 
Bendigo & Adelaide Bank Ltd. 126,165 916,082 
BHP Billiton Ltd. 763,029 20,191,534 
BlueScope Steel Ltd. 131,739 1,249,094 
Boral Ltd. 325,871 1,114,155 
Brambles Ltd. 422,299 3,587,281 
Caltex Australia Ltd. 66,593 1,277,366 
Challenger Ltd. 142,421 825,285 
Cimic Group Ltd. 24,005 856,100 
Coca-Cola Amatil Ltd. 131,761 817,387 
Cochlear Ltd. 14,538 1,919,863 
Coles Group Ltd. (a) 287,155 2,552,641 
Commonwealth Bank of Australia 456,229 23,967,021 
Computershare Ltd. 125,672 1,579,604 
Crown Ltd. 89,637 839,790 
CSL Ltd. 117,899 16,503,729 
DEXUS Property Group unit 259,475 2,286,461 
Dominos Pizza Enterprises Ltd. 16,764 508,165 
Flight Centre Travel Group Ltd. 15,599 422,266 
Fortescue Metals Group Ltd. 394,315 1,987,502 
Goodman Group unit 430,414 3,993,012 
Harvey Norman Holdings Ltd. (b) 153,635 451,632 
Incitec Pivot Ltd. 416,956 990,555 
Insurance Australia Group Ltd. 609,315 3,384,748 
Lendlease Group unit 139,110 1,304,272 
Macquarie Group Ltd. 82,919 7,873,720 
Medibank Private Ltd. 707,223 1,425,873 
Mirvac Group unit 931,252 1,857,856 
National Australia Bank Ltd. 704,127 12,572,216 
Newcrest Mining Ltd. 203,017 3,579,352 
Orica Ltd. 104,814 1,374,329 
Origin Energy Ltd. 442,776 2,300,435 
QBE Insurance Group Ltd. 354,604 3,232,217 
Ramsay Health Care Ltd. 37,407 1,722,493 
realestate.com.au Ltd. 13,124 739,216 
Rio Tinto Ltd. 96,981 6,520,138 
Santos Ltd. 470,953 2,387,068 
Scentre Group unit 1,398,167 3,765,137 
SEEK Ltd. 83,590 1,073,056 
Sonic Healthcare Ltd. 108,045 1,953,666 
South32 Ltd. 1,368,093 3,221,220 
SP AusNet 392,574 491,222 
Stockland Corp. Ltd. unit 616,605 1,638,727 
Suncorp Group Ltd. 327,036 3,059,319 
Sydney Airport unit 294,357 1,581,203 
Tabcorp Holdings Ltd. 527,048 1,779,689 
Telstra Corp. Ltd. 1,056,532 2,517,432 
The GPT Group unit 459,769 1,857,174 
TPG Telecom Ltd. 90,670 430,806 
Transurban Group unit 688,832 6,526,358 
Treasury Wine Estates Ltd. 190,137 2,305,438 
Vicinity Centres unit 812,481 1,454,807 
Washington H. Soul Pattinson & Co. Ltd. 28,023 454,163 
Wesfarmers Ltd. 296,266 7,520,786 
Westpac Banking Corp. 886,424 17,220,023 
Woodside Petroleum Ltd. 243,802 6,082,416 
Woolworths Group Ltd. 343,504 7,712,578 
WorleyParsons Ltd. 81,943 827,205 
TOTAL AUSTRALIA  244,502,525 
Austria - 0.2%   
Andritz AG 19,095 910,220 
Erste Group Bank AG 76,326 3,056,179 
OMV AG 37,515 2,009,168 
Raiffeisen International Bank-Holding AG 35,663 950,791 
Verbund AG 17,676 876,679 
Voestalpine AG 29,530 948,250 
TOTAL AUSTRIA  8,751,287 
Bailiwick of Jersey - 0.5%   
Experian PLC 229,424 6,678,283 
Ferguson PLC 58,010 4,115,090 
Glencore Xstrata PLC 2,827,674 11,218,966 
Polymetal International PLC 50,035 524,988 
WPP PLC 317,242 3,958,481 
TOTAL BAILIWICK OF JERSEY  26,495,808 
Belgium - 0.6%   
Ageas 45,743 2,411,351 
Anheuser-Busch InBev SA NV 196,804 17,497,282 
Colruyt NV 15,169 1,093,291 
Groupe Bruxelles Lambert SA 20,034 1,914,905 
KBC Groep NV 65,700 4,864,956 
Proximus 42,259 1,182,572 
Solvay SA Class A 20,203 2,427,985 
Telenet Group Holding NV 13,701 727,168 
UCB SA 34,547 2,740,253 
Umicore SA 56,155 2,172,929 
TOTAL BELGIUM  37,032,692 
Bermuda - 0.5%   
Alibaba Health Information Technology Ltd. (a) 906,000 1,083,301 
Alibaba Pictures Group Ltd. (a) 3,630,000 814,399 
Beijing Enterprises Water Group Ltd. 1,408,000 874,077 
Brilliance China Automotive Holdings Ltd. 766,000 842,670 
Cheung Kong Infrastructure Holdings Ltd. 161,500 1,311,385 
China Gas Holdings Ltd. 450,800 1,450,987 
China Oriental Group Co. Ltd. (H Shares) 264,000 161,870 
China Resource Gas Group Ltd. 218,000 1,008,745 
Cosco Shipping Ports Ltd. 369,129 367,962 
Credicorp Ltd. (United States) 18,674 4,423,871 
Dairy Farm International Holdings Ltd. 81,400 637,362 
GOME Electrical Appliances Holdings Ltd. (a) 3,110,104 356,809 
Haier Electronics Group Co. Ltd. 307,000 878,563 
Hanergy Thin Film Power Group Ltd. (a)(c) 576,000 1 
HengTen Networks Group Ltd. (a) 4,492,000 128,837 
Hongkong Land Holdings Ltd. 292,936 2,041,764 
Jardine Matheson Holdings Ltd. 57,498 3,783,368 
Jardine Strategic Holdings Ltd. 56,500 2,136,830 
Kerry Properties Ltd. 166,000 708,877 
Kunlun Energy Co. Ltd. 794,000 838,048 
Luye Pharma Group Ltd. (d) 364,500 329,894 
Nine Dragons Paper (Holdings) Ltd. 440,000 406,639 
NWS Holdings Ltd. 412,871 857,867 
Shangri-La Asia Ltd. 334,000 473,445 
Shenzhen International Holdings Ltd. 255,000 549,995 
Sihuan Pharmaceutical Holdings Group Ltd. 1,197,000 321,955 
Yue Yuen Industrial (Holdings) Ltd. 171,500 554,192 
TOTAL BERMUDA  27,343,713 
Brazil - 1.1%   
Ambev SA 1,223,800 5,764,603 
Atacadao Distribuicao Comercio e Industria Ltda 102,400 553,641 
B2W Companhia Global do Varejo (a) 48,300 471,162 
Banco Bradesco SA 307,958 2,434,699 
Banco do Brasil SA 228,300 2,892,541 
Banco Santander SA (Brasil) unit 106,500 1,222,505 
BB Seguridade Participacoes SA 181,000 1,304,496 
BM&F BOVESPA SA 544,266 4,781,812 
BR Malls Participacoes SA 213,440 669,535 
Brasil Foods SA (a) 132,100 1,046,060 
CCR SA 294,000 876,504 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 103,500 863,138 
Cielo SA 302,971 593,409 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 88,400 1,059,601 
Companhia Siderurgica Nacional SA (CSN) 158,400 587,370 
Cosan SA Industria e Comercio 44,700 534,312 
Drogasil SA 56,600 998,017 
Embraer SA 162,800 815,432 
ENGIE Brasil Energia SA 52,650 597,383 
Equatorial Energia SA 41,500 868,927 
HRT Participacoes em Petroleo SA (a) 22,000 103,517 
Hypermarcas SA 93,600 670,294 
IRB Brasil Resseguros SA 35,300 845,342 
JBS SA 235,300 1,186,371 
Klabin SA unit 173,300 733,667 
Kroton Educacional SA 348,352 866,194 
Localiza Rent A Car SA 143,767 1,327,272 
Lojas Renner SA 182,380 2,180,504 
M. Dias Branco SA 23,000 243,955 
Magazine Luiza SA 19,000 926,765 
Multiplan Empreendimentos Imobiliarios SA 68,166 416,530 
Natura Cosmeticos SA 50,300 670,136 
Petrobras Distribuidora SA 92,000 556,068 
Petroleo Brasileiro SA - Petrobras (ON) 790,800 6,042,276 
Porto Seguro SA 21,700 299,509 
Rumo SA (a) 280,200 1,293,418 
Sul America SA unit 53,747 427,662 
Suzano Papel e Celulose SA 138,517 1,438,830 
TIM Participacoes SA 222,200 662,446 
Ultrapar Participacoes SA 184,200 986,509 
Vale SA 821,445 10,495,625 
Weg SA 200,850 951,721 
TOTAL BRAZIL  62,259,758 
Canada - 6.4%   
Agnico Eagle Mines Ltd. (Canada) 59,804 2,476,619 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 114,468 6,749,143 
AltaGas Ltd. 67,078 891,736 
ARC Resources Ltd. 90,372 574,058 
ATCO Ltd. Class I (non-vtg.) 23,520 806,706 
Bank of Montreal 166,484 13,150,210 
Bank of Nova Scotia 318,299 17,529,372 
Barrick Gold Corp. (Canada) 456,701 5,805,492 
Bausch Health Cos., Inc. (Canada) (a) 85,735 1,980,026 
BCE, Inc. 39,072 1,748,134 
BlackBerry Ltd. (a) 145,464 1,334,442 
Bombardier, Inc. Class B (sub. vtg.) (a) 552,800 944,922 
Brookfield Asset Management, Inc. Class A 218,563 10,537,422 
CAE, Inc. 69,568 1,618,078 
Cameco Corp. 99,887 1,101,985 
Canadian Imperial Bank of Commerce 116,706 9,827,278 
Canadian National Railway Co. 188,478 17,507,056 
Canadian Natural Resources Ltd. 314,447 9,440,217 
Canadian Pacific Railway Ltd. 37,186 8,331,807 
Canadian Tire Ltd. Class A (non-vtg.) 17,115 1,883,838 
Canadian Utilities Ltd. Class A (non-vtg.) 35,183 969,850 
CCL Industries, Inc. Class B 38,610 1,647,056 
Cenovus Energy, Inc. (Canada) 265,180 2,628,641 
CGI Group, Inc. Class A (sub. vtg.) (a) 66,175 4,763,197 
CI Financial Corp. 63,367 911,459 
Constellation Software, Inc. 5,295 4,671,987 
Dollarama, Inc. 77,113 2,316,210 
Emera, Inc. 17,105 642,347 
Empire Co. Ltd. Class A (non-vtg.) 46,458 1,033,402 
Enbridge, Inc. 523,491 19,338,337 
Encana Corp. (Toronto) 395,219 2,737,652 
Fairfax Financial Holdings Ltd. (sub. vtg.) 7,483 3,568,515 
Finning International, Inc. 44,326 795,731 
First Capital Realty, Inc. 50,410 803,354 
First Quantum Minerals Ltd. 175,019 1,848,562 
Fortis, Inc. 114,096 4,217,387 
Franco-Nevada Corp. 49,987 3,581,587 
George Weston Ltd. 22,143 1,653,329 
Gildan Activewear, Inc. 56,616 2,087,654 
Great-West Lifeco, Inc. 76,400 1,920,122 
H&R (REIT) unit 41,168 703,393 
Husky Energy, Inc. 90,691 984,285 
Hydro One Ltd. (d) 82,751 1,339,137 
iA Financial Corp, Inc. 27,932 1,112,109 
IGM Financial, Inc. 22,212 613,454 
Imperial Oil Ltd. 71,013 2,063,019 
Intact Financial Corp. 35,732 2,923,479 
Inter Pipeline Ltd. 111,579 1,817,313 
Keyera Corp. 57,819 1,336,177 
Kinross Gold Corp. (a) 330,102 1,049,664 
Loblaw Companies Ltd. 48,541 2,377,955 
Lundin Mining Corp. 164,885 884,917 
Magna International, Inc. Class A (sub. vtg.) 83,122 4,626,713 
Manulife Financial Corp. 518,781 9,553,129 
Methanex Corp. 15,995 876,818 
Metro, Inc. Class A (sub. vtg.) 62,434 2,260,244 
National Bank of Canada 91,936 4,379,604 
Nutrien Ltd. 159,861 8,670,225 
Onex Corp. (sub. vtg.) 24,094 1,397,585 
Open Text Corp. 74,640 2,869,269 
Pembina Pipeline Corp. 134,151 4,796,472 
Power Corp. of Canada (sub. vtg.) 93,726 2,150,584 
Power Financial Corp. 74,985 1,787,170 
PrairieSky Royalty Ltd. 56,972 821,176 
Restaurant Brands International, Inc. 2,718 177,322 
Restaurant Brands International, Inc. 60,023 3,917,602 
RioCan (REIT) 40,027 769,647 
Rogers Communications, Inc. Class B (non-vtg.) 96,123 4,839,514 
Royal Bank of Canada 370,796 29,551,309 
Saputo, Inc. 64,078 2,191,097 
Seven Generations Energy Ltd. (a) 73,873 578,985 
Shaw Communications, Inc. Class B 128,105 2,594,229 
Shopify, Inc. Class A (a) 23,493 5,712,357 
Smart (REIT) 22,221 561,952 
SNC-Lavalin Group, Inc. 49,837 1,242,484 
Sun Life Financial, Inc. 160,987 6,688,465 
Suncor Energy, Inc. 418,592 13,804,131 
Teck Resources Ltd. Class B (sub. vtg.) 130,149 3,077,644 
TELUS Corp. (a) 52,630 1,937,925 
The Stars Group, Inc. (a) 46,193 871,657 
The Toronto-Dominion Bank 473,899 27,032,441 
Thomson Reuters Corp. 51,276 3,168,724 
Tourmaline Oil Corp. 67,378 1,007,376 
TransCanada Corp. 237,571 11,338,576 
Turquoise Hill Resources Ltd. (a) 265,408 396,220 
Vermilion Energy, Inc. 38,142 973,978 
West Fraser Timber Co. Ltd. 14,586 750,912 
Wheaton Precious Metals Corp. 118,889 2,571,772 
WSP Global, Inc. 30,742 1,659,981 
TOTAL CANADA  365,185,111 
Cayman Islands - 4.7%   
3SBio, Inc. (d) 334,000 617,352 
51job, Inc. sponsored ADR (a)(b) 6,521 602,149 
58.com, Inc. ADR (a) 23,361 1,677,086 
AAC Technology Holdings, Inc. 178,500 1,159,565 
Agile Property Holdings Ltd. 402,000 607,755 
Airtac International Group 31,000 413,307 
Alibaba Group Holding Ltd. sponsored ADR (a) 335,261 62,214,384 
Anta Sports Products Ltd. 272,000 1,917,398 
ASM Pacific Technology Ltd. 75,200 870,885 
Autohome, Inc. ADR Class A (a)(b) 14,931 1,724,381 
Baidu.com, Inc. sponsored ADR (a) 71,941 11,958,752 
Baozun, Inc. sponsored ADR (a)(b) 10,184 493,924 
BeiGene Ltd. ADR (a)(b) 8,009 994,958 
Car, Inc. (a) 148,000 119,799 
Chailease Holding Co. Ltd. 294,432 1,252,922 
Cheung Kong Property Holdings Ltd. 673,216 5,406,461 
China Conch Venture Holdings Ltd. 438,500 1,481,268 
China First Capital Group Ltd. (a) 726,000 305,400 
China Hongqiao Group Ltd. 483,500 398,150 
China Huishan Dairy Holdings Co. Ltd. (a)(c) 461,000 12,341 
China Investment Fund International Holdings Co. Ltd. (c) 232,000 683,153 
China Literature Ltd. (a)(b)(d) 61,600 279,543 
China Medical System Holdings Ltd. 370,000 327,797 
China Mengniu Dairy Co. Ltd. 733,000 2,709,693 
China Resources Cement Holdings Ltd. 632,000 632,419 
China Resources Land Ltd. 724,634 3,154,478 
China State Construction International Holdings Ltd. 515,250 533,982 
China Zhongwang Holdings Ltd. 324,800 177,206 
CIFI Holdings Group Co. Ltd. 912,000 605,690 
CK Hutchison Holdings Ltd. 706,216 7,417,933 
Country Garden Holdings Co. Ltd. 1,984,644 3,197,774 
Country Garden Services Holdings Co. Ltd. 291,000 537,872 
Ctrip.com International Ltd. ADR (a) 106,597 4,695,598 
Dali Foods Group Co. Ltd. (d) 558,000 396,905 
ENN Energy Holdings Ltd. 214,200 2,023,279 
Evergrande Real Estate Group Ltd. 659,000 2,112,718 
Fang Holdings Ltd. ADR (a)(b) 42,173 64,103 
Fullshare Holdings Ltd. 1,525,000 171,069 
Future Land Development Holding Ltd. 470,000 560,180 
GDS Holdings Ltd. ADR (a)(b) 15,106 591,098 
Geely Automobile Holdings Ltd. 1,252,000 2,512,044 
Genscript Biotech Corp. (a) 214,000 545,584 
Greentown China Holdings Ltd. 174,000 157,480 
Greentown Service Group Co. Ltd. 204,000 176,050 
Haitian International Holdings Ltd. 151,000 378,039 
Hengan International Group Co. Ltd. 188,500 1,661,582 
Huazhu Group Ltd. ADR (b) 31,976 1,355,782 
Hutchison China Meditech Ltd. sponsored ADR (a)(b) 14,208 427,377 
iQIYI, Inc. ADR (a)(b) 30,416 672,498 
JD.com, Inc. sponsored ADR (a) 190,829 5,776,394 
Jiayuan International Group Ltd. 222,662 99,626 
Kaisa Group Holdings Ltd. 586,000 248,748 
Kingboard Chemical Holdings Ltd. 164,000 534,137 
Kingboard Laminates Holdings Ltd. 293,000 307,387 
Kingdee International Software Group Co. Ltd. 577,000 706,098 
Kingsoft Corp. Ltd. 216,000 552,060 
KWG Property Holding Ltd. 356,500 417,177 
Lee & Man Paper Manufacturing Ltd. 303,000 245,651 
Lijun International Pharmaceutical Holding Ltd. 422,000 398,611 
Logan Property Holdings Co. Ltd. 354,000 564,068 
Longfor Properties Co. Ltd. 366,500 1,350,175 
Meitu, Inc. (a)(d) 489,500 179,706 
Meituan Dianping Class B 80,300 583,457 
Melco Crown Entertainment Ltd. sponsored ADR 62,445 1,567,370 
MGM China Holdings Ltd. 244,000 502,631 
Minth Group Ltd. 188,000 593,132 
Momo, Inc. ADR 37,133 1,302,254 
NetEase, Inc. ADR 20,182 5,742,384 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 36,143 3,450,211 
Nexteer Auto Group Ltd. 192,000 300,551 
Noah Holdings Ltd. sponsored ADR (a)(b) 7,500 407,550 
Pinduoduo, Inc. ADR (b) 49,347 1,096,984 
Sands China Ltd. 640,400 3,518,412 
Semiconductor Manufacturing International Corp. (a) 745,100 797,786 
Shenzhou International Group Holdings Ltd. 201,000 2,698,004 
Shimao Property Holdings Ltd. 298,500 909,411 
Shui On Land Ltd. 723,500 176,153 
SINA Corp. (a) 15,773 992,753 
Sino Biopharmaceutical Ltd. 1,752,500 1,684,409 
SOHO China Ltd. 400,000 144,809 
Sunac China Holdings Ltd. 616,000 3,176,270 
Sunny Optical Technology Group Co. Ltd. 181,600 2,214,211 
TAL Education Group ADR (a) 89,869 3,457,260 
Tencent Holdings Ltd. 1,476,000 72,748,590 
Tencent Music Entertainment Group ADR (a)(b) 22,419 385,607 
Tingyi (Cayman Islands) Holding Corp. 502,000 825,490 
Towngas China Co. Ltd. 194,852 154,991 
Uni-President China Holdings Ltd. 302,000 276,407 
Vipshop Holdings Ltd. ADR (a) 110,182 948,667 
Want Want China Holdings Ltd. 1,196,000 948,287 
Weibo Corp. sponsored ADR (a)(b) 13,349 914,407 
WH Group Ltd. (d) 2,321,500 2,752,135 
Wharf Real Estate Investment Co. Ltd. 322,000 2,466,883 
Wuxi Biologics (Cayman), Inc. (a)(d) 120,000 1,206,914 
Wynn Macau Ltd. 400,000 1,147,257 
Xiaomi Corp. Class B (d) 833,400 1,276,956 
Xinyi Solar Holdings Ltd. 821,372 468,021 
Yihai International Holding Ltd. 125,000 616,651 
Yuzhou Properties Co. 348,688 184,016 
YY, Inc. ADR (a) 12,228 1,034,611 
Zhen Ding Technology Holding Ltd. 131,302 469,512 
Zhongsheng Group Holdings Ltd. Class H 155,500 408,334 
ZTO Express (Cayman), Inc. sponsored ADR 81,361 1,621,525 
TOTAL CAYMAN ISLANDS  270,538,264 
Chile - 0.2%   
Aguas Andinas SA 607,913 350,037 
Banco de Chile (a) 6,907,900 1,013,492 
Banco de Credito e Inversiones (a) 11,371 757,104 
Banco Santander Chile 16,739,528 1,176,438 
Cencosud SA 363,716 690,056 
Colbun SA (a) 1,983,351 443,348 
Compania Cervecerias Unidas SA 38,737 535,329 
Compania de Petroleos de Chile SA (COPEC) 98,840 1,240,425 
CorpBanca SA 39,633,085 354,024 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 36,074 377,773 
Empresas CMPC SA 348,387 1,172,675 
Enel Chile SA 6,976,412 702,997 
Enersis SA 7,420,208 1,302,070 
LATAM Airlines Group SA 75,418 747,944 
S.A.C.I. Falabella 185,047 1,366,036 
TOTAL CHILE  12,229,748 
China - 2.7%   
Agricultural Bank of China Ltd. (H Shares) 7,566,000 3,491,347 
Air China Ltd. (H Shares) 480,000 572,099 
Aluminum Corp. of China Ltd.:   
(A shares) (a) 274,700 170,084 
(H Shares) (a) 978,000 382,733 
Angang Steel Co. Ltd. (H Shares) 222,000 149,136 
Anhui Conch Cement Co. Ltd. (H Shares) 331,500 2,022,011 
Anxin Trust Co. Ltd. (A Shares) 38,000 31,258 
AVIC Capital Co. Ltd. (A Shares) 60,100 51,579 
AviChina Industry & Technology Co. Ltd. (H Shares) 456,000 267,969 
Baic Motor Corp. Ltd. (H Shares) (d) 475,000 333,023 
Bank Communications Co. Ltd. (H Shares) 2,376,000 2,002,009 
Bank of Beijing Co. Ltd. (A Shares) 219,216 207,339 
Bank of China Ltd. (H Shares) 20,538,000 9,791,470 
Bank of Guiyang Co. Ltd. (A Shares) 68,300 139,543 
Bank of Hangzhou Co. Ltd. (A Shares) 38,780 51,132 
Bank of Jiangsu Co. Ltd. (A Shares) 210,000 228,868 
Bank of Nanjing Co. Ltd. (A Shares) 38,800 49,948 
Bank of Ningbo Co. Ltd. (A Shares) 18,500 62,904 
Bank of Shanghai Co. Ltd. (A Shares) 108,400 203,927 
Baoshan Iron & Steel Co. Ltd. (A Shares) 38,500 40,987 
BBMG Corp. (H Shares) 678,000 238,538 
Beijing Capital International Airport Co. Ltd. (H Shares) 460,000 409,290 
Beijing Tongrentang Co. Ltd. (A Shares) 7,500 34,711 
BOE Technology Group Co. Ltd. (A Shares) 80,900 43,243 
BYD Co. Ltd. (H Shares) (b) 166,500 1,133,375 
CGN Power Co. Ltd. (H Shares) (d) 2,887,000 761,790 
Changjiang Securities Co. Ltd. (A Shares) 53,700 62,830 
China Cinda Asset Management Co. Ltd. (H Shares) 2,122,000 565,340 
China CITIC Bank Corp. Ltd. (H Shares) 2,198,000 1,409,334 
China Coal Energy Co. Ltd. (H Shares) 387,000 170,689 
China Communications Construction Co. Ltd. (H Shares) 1,093,000 1,051,926 
China Communications Services Corp. Ltd. (H Shares) 624,000 502,713 
China Construction Bank Corp. (H Shares) 24,765,000 21,831,975 
China Eastern Airlines Corp. Ltd. (H Shares) 394,000 279,750 
China Everbright Bank Co. Ltd. (H Shares) 1,033,000 509,600 
China Fortune Land Development Co. Ltd. (A Shares) 11,300 52,717 
China Galaxy Securities Co. Ltd. (H Shares) 934,500 611,104 
China Huarong Asset Management Co. Ltd. (d) 2,473,000 529,604 
China International Capital Corp. Ltd. (H Shares) (d) 368,000 789,965 
China International Marine Containers (Group) Ltd.:   
(H Shares) 87,000 109,682 
rights (a)(c) 844 887 
China International Travel Service Corp. Ltd. (A Shares) 5,200 59,830 
China Life Insurance Co. Ltd. (H Shares) 1,972,000 5,603,655 
China Longyuan Power Grid Corp. Ltd. (H Shares) 796,000 547,930 
China Merchants Bank Co. Ltd. (H Shares) 1,088,251 5,385,761 
China Merchants Securities Co. Ltd. (A Shares) 22,100 57,523 
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares) 14,900 48,672 
China Minsheng Banking Corp. Ltd. (H Shares) 1,573,800 1,181,634 
China Molybdenum Co. Ltd. (H Shares) 1,053,000 395,976 
China National Building Materials Co. Ltd. (H Shares) 969,000 900,470 
China National Nuclear Power Co. Ltd. (A Shares) 65,000 57,232 
China Oilfield Services Ltd. (H Shares) 532,000 569,651 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 731,400 2,997,465 
China Petroleum & Chemical Corp. (H Shares) 6,712,000 5,159,578 
China Railway Construction Corp. Ltd. (H Shares) 561,000 662,204 
China Railway Group Ltd. (H Shares) 924,000 727,911 
China Railway Signal & Communications Corp. (H Shares) (d) 375,000 275,342 
China Reinsurance Group Corp. (H Shares) 1,550,000 316,133 
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares) 32,400 141,917 
China Shenhua Energy Co. Ltd. (H Shares) 918,500 2,030,235 
China Shipping Development Co. Ltd. (H Shares) 242,000 156,402 
China Southern Airlines Ltd. (H Shares) 518,000 451,652 
China State Construction Engineering Corp. Ltd. (A Shares) 240,860 219,227 
China Telecom Corp. Ltd. (H Shares) 3,432,000 1,776,198 
China Tower Corp. Ltd. (H Shares) (d) 9,964,000 2,692,698 
China United Network Communications Ltd. (A Shares) 100,000 99,036 
China Vanke Co. Ltd. (H Shares) 363,300 1,405,537 
China Yangtze Power Co. Ltd. (A Shares) 78,000 195,379 
Chongqing Changan Automobile Co. Ltd. (B Shares) 189,300 99,177 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 760,000 443,708 
CITIC Securities Co. Ltd. (H Shares) 637,000 1,377,157 
COSCO SHIPPING Holdings Co. Ltd. (H Shares) (a) 867,500 403,627 
CRRC Corp. Ltd. (H Shares) 1,248,950 1,090,571 
Daqin Railway Co. Ltd. (A Shares) 50,700 64,138 
Datang International Power Generation Co. Ltd. (H Shares) 558,000 144,394 
Dong E-E-Jiao Co. Ltd. (A Shares) 25,100 163,199 
Dongfeng Motor Group Co. Ltd. (H Shares) 652,000 632,485 
Everbright Securities Co. Ltd. (A Shares) 30,900 57,075 
Focus Media Information Technology Co. Ltd. (A Shares) 32,640 29,563 
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares) 4,800 63,630 
Founder Securities Co. Ltd. (A Shares) 52,800 54,722 
Foxconn Industrial Internet Co. Ltd. (A Shares) (a) 47,900 109,670 
Fuyao Glass Industries Group Co. Ltd. (H Shares) (d) 131,200 460,759 
GD Power Development Co. Ltd. (A Shares) 302,700 121,801 
Gemdale Corp. (A Shares) 97,900 176,324 
GF Securities Co. Ltd. (H Shares) 404,800 546,971 
Great Wall Motor Co. Ltd. (H Shares) 763,000 619,558 
Gree Electric Appliances, Inc. of Zhuhai (A Shares) 6,900 56,942 
Greenland Holdings Corp. Ltd. (A Shares) 152,300 168,923 
Guanghui Energy Co. Ltd. (A Shares) 204,500 122,975 
Guangzhou Automobile Group Co. Ltd. (H Shares) 716,000 769,412 
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. (A Shares) 19,200 129,684 
Guangzhou R&F Properties Co. Ltd. (H Shares) 262,000 520,340 
Guosen Securities Co. Ltd. (A Shares) 123,100 225,550 
Guotai Junan Securities Co. Ltd.:   
(A Shares) 18,000 50,326 
(H Shares) (d) 156,800 334,995 
Haitong Securities Co. Ltd.:   
rights (a)(c) 31,057 8,868 
(H Shares) 869,600 1,119,590 
Hangzhou Hikvision Digital Technology Co. Ltd. (A Shares) 44,400 215,444 
Henan Shuanghui Investment & Development Co. Ltd. (A Shares) 11,600 47,934 
Huaan Securities Co. Ltd. (A Shares) 217,800 215,701 
Huadian Power International Corp. Ltd. (H Shares) 554,000 236,577 
Huadong Medicine Co. Ltd. (A Shares) 6,300 32,646 
Huaneng Power International, Inc. (H Shares) 1,108,000 709,025 
Huaneng Renewables Corp. Ltd. (H Shares) 1,058,000 304,798 
Huatai Securities Co. Ltd. (H Shares) (d) 468,800 882,048 
HUAXI Securities Co. Ltd. 59,100 92,315 
Huaxia Bank Co. Ltd. (A Shares) 190,800 227,207 
Huayu Automotive Systems Co. Ltd. (A Shares) 12,631 44,129 
Industrial & Commercial Bank of China Ltd. (H Shares) 18,093,000 13,584,511 
Industrial Bank Co. Ltd. (A Shares) 138,400 409,350 
Industrial Securities Co. Ltd. (A Shares) 50,000 50,038 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 12,100 55,695 
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) 176,600 44,577 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 366,000 438,102 
Jiangsu Expressway Co. Ltd. (H Shares) 306,000 435,315 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 18,600 181,584 
Jiangsu Yanghe Brewery JSC Ltd. (A Shares) 2,700 47,170 
Jiangxi Copper Co. Ltd. (H Shares) 385,000 510,402 
Kangmei Pharmaceutical Co. Ltd. (A Shares) 12,200 17,281 
Kweichow Moutai Co. Ltd. (A Shares) 4,900 708,637 
Legend Holdings Corp. (H Shares) (d) 100,800 274,332 
Luxshare Precision Industry Co. Ltd. (A Shares) 17,550 67,986 
Luzhou Laojiao Co. Ltd. (A Shares) 4,700 54,349 
Maanshan Iron & Steel Co. Ltd. (A Shares) 481,600 248,848 
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) 12,720 28,916 
Metallurgical Corp. China Ltd. (H Shares) 833,000 230,421 
Midea Group Co. Ltd. (A Shares) 33,700 262,198 
NARI Technology Co. Ltd. (A Shares) 61,400 181,696 
New China Life Insurance Co. Ltd. (H Shares) 251,600 1,393,537 
Orient Securities Co. Ltd. (A Shares) 27,500 45,609 
People's Insurance Co. of China Group (H Shares) 2,089,000 854,794 
PetroChina Co. Ltd. (H Shares) 5,334,000 3,381,189 
PICC Property & Casualty Co. Ltd. (H Shares) 1,890,933 2,123,588 
Ping An Bank Co. Ltd. (A Shares) 113,400 233,202 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 1,398,000 16,922,322 
Poly Developments & Holdings (A Shares) 25,400 50,876 
Postal Savings Bank of China Co. Ltd. (H Shares) (d) 1,870,000 1,137,046 
Power Construction Corp. of China Ltd. (A Shares) 60,300 47,811 
Qingdao Haier Co. Ltd. (A Shares) 17,100 43,620 
SAIC Motor Corp. Ltd. (A Shares) 47,700 193,919 
Sany Heavy Industry Co. Ltd. (A Shares) 38,500 70,027 
SDIC Capital Co. Ltd. 52,400 108,069 
SDIC Power Holdings Co. Ltd. (A Shares) 45,700 54,895 
Shandong Buchang Pharmaceuticals Co. Ltd. (A Shares) 28,700 135,981 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 548,000 537,885 
Shanghai Construction Group Co. Ltd. (A Shares) 100,000 56,719 
Shanghai Electric Group Co. Ltd. (H Shares) 598,000 233,260 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 168,000 577,147 
Shanghai International Airport Co. Ltd. (A Shares) 6,100 63,972 
Shanghai International Port Group Co. Ltd. (A Shares) 48,000 57,515 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 276,040 417,925 
Shanghai Pharmaceuticals Holding Co. Ltd. (H Shares) 229,000 479,321 
Shanghai Pudong Development Bank Co. Ltd. (A Shares) 152,300 270,684 
Shanghaioriental Pearl Media Co. Ltd. 22,490 37,901 
Shenwan Hongyuan Group Co. Ltd. (A Shares) 305,100 232,849 
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) 40,200 47,453 
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares) 37,500 133,966 
Sichuan Chuantou Energy Co. Ltd. (A Shares) 36,436 47,933 
Sinopec Engineering Group Co. Ltd. (H Shares) 373,500 360,893 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 669,000 302,742 
Sinopharm Group Co. Ltd. (H Shares) 322,000 1,264,226 
Sinotrans Ltd. (H Shares) 612,000 251,203 
Suning.com Co. Ltd. (A Shares) 20,800 38,975 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 190,000 263,512 
TravelSky Technology Ltd. (H Shares) 229,000 588,205 
Tsingtao Brewery Co. Ltd. (H Shares) 100,000 637,365 
Weichai Power Co. Ltd. (H Shares) 529,600 865,474 
Weifu High-Technology Group Co. Ltd. (A Shares) 60,800 185,517 
Wuliangye Yibin Co. Ltd. (A Shares) 18,300 278,132 
Xinjiang Goldwind Science & Technology Co. Ltd.:   
(A Shares) 68,782 118,060 
(H Shares) (b) 155,652 169,843 
Yanzhou Coal Mining Co. Ltd. (H Shares) 492,000 524,312 
Yonghui Superstores Co. Ltd. (A Shares) 34,200 49,612 
Yunnan Baiyao Group Co. Ltd. (A Shares) 2,700 35,479 
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares) 2,498 42,765 
Zhaojin Mining Industry Co. Ltd. (H Shares) 272,500 234,471 
Zhejiang Century Huatong Group Co. Ltd. (A Shares) 14,560 42,265 
Zhejiang Expressway Co. Ltd. (H Shares) 368,000 394,514 
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) 60,802 42,792 
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(d) 56,900 205,266 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 132,500 672,229 
Zijin Mng Group Co. Ltd. (H Shares) 2,058,000 802,759 
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares) 288,100 211,747 
ZTE Corp. (H Shares) 220,880 701,090 
TOTAL CHINA  155,743,506 
Colombia - 0.1%   
Bancolombia SA 56,283 685,858 
Cementos Argos SA 126,540 315,836 
Ecopetrol SA 1,202,246 1,109,937 
Grupo de Inversiones Suramerica SA 58,462 650,934 
Interconexion Electrica SA ESP 121,541 594,689 
Inversiones Argos SA 79,200 450,717 
TOTAL COLOMBIA  3,807,971 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 41,223 958,660 
Komercni Banka A/S 18,085 685,264 
MONETA Money Bank A/S (d) 112,549 360,474 
TOTAL CZECH REPUBLIC  2,004,398 
Denmark - 1.1%   
A.P. Moller - Maersk A/S:   
Series A 1,056 1,286,625 
Series B 1,622 2,090,911 
Carlsberg A/S Series B 26,652 3,442,662 
Christian Hansen Holding A/S 26,290 2,681,807 
Coloplast A/S Series B 31,472 3,395,759 
Danske Bank A/S 188,284 3,339,231 
DONG Energy A/S (d) 49,728 3,807,128 
DSV de Sammensluttede Vognmaend A/S 49,182 4,544,106 
Genmab A/S (a) 15,662 2,600,020 
H Lundbeck A/S 17,960 755,495 
ISS Holdings A/S 42,806 1,331,196 
Novo Nordisk A/S Series B 472,122 23,131,407 
Novozymes A/S Series B 58,085 2,706,904 
Pandora A/S 28,343 1,188,854 
Tryg A/S 29,599 904,472 
Vestas Wind Systems A/S 50,798 4,594,203 
William Demant Holding A/S (a) 24,993 788,506 
TOTAL DENMARK  62,589,286 
Egypt - 0.0%   
Commercial International Bank SAE (a) 220,087 985,072 
Commercial International Bank SAE sponsored GDR 103,705 453,709 
Eastern Tobacco Co. 224,915 238,276 
Elsewedy Electric Co. 155,990 141,636 
TOTAL EGYPT  1,818,693 
Finland - 0.7%   
Elisa Corp. (A Shares) 35,893 1,522,945 
Fortum Corp. 112,983 2,387,437 
Kone Oyj (B Shares) 87,095 4,772,926 
Metso Corp. 25,863 963,354 
Neste Oyj 99,694 3,291,886 
Nokia Corp. 1,466,412 7,705,424 
Nokian Tyres PLC 29,986 1,002,915 
Nordea Bank ABP (Stockholm Stock Exchange) 787,815 6,198,020 
Orion Oyj (B Shares) 26,915 894,466 
Sampo Oyj (A Shares) 115,186 5,274,148 
Stora Enso Oyj (R Shares) 152,024 1,886,694 
UPM-Kymmene Corp. 142,670 4,018,069 
Wartsila Corp. 112,092 1,787,772 
TOTAL FINLAND  41,706,056 
France - 6.6%   
Accor SA 51,751 2,180,130 
Aeroports de Paris 7,958 1,620,906 
Air Liquide SA 102,027 13,572,837 
Alstom SA 39,059 1,717,296 
Amundi SA (d) 14,848 1,066,658 
Arkema SA 17,420 1,786,970 
Atos Origin SA 24,175 2,488,585 
AXA SA 498,462 13,292,256 
BIC SA 6,163 531,220 
bioMerieux SA 10,756 853,523 
BNP Paribas SA 291,619 15,523,778 
Bollore SA 228,622 1,086,205 
Bouygues SA 55,904 2,103,023 
Bureau Veritas SA 67,544 1,710,601 
Capgemini SA 41,928 5,083,559 
Carrefour SA 149,670 2,915,900 
Casino Guichard Perrachon SA (b) 14,062 575,676 
CNP Assurances 42,666 1,006,852 
Compagnie de St. Gobain 129,920 5,326,712 
Covivio 11,179 1,209,952 
Credit Agricole SA 299,025 4,101,776 
Danone SA 158,306 12,803,396 
Dassault Aviation SA 648 980,449 
Dassault Systemes SA 34,088 5,392,779 
Edenred SA 60,575 2,854,198 
EDF SA (a) 5,248 75,578 
EDF SA 149,721 2,156,184 
Eiffage SA 19,438 2,029,735 
ENGIE 469,556 6,954,466 
Essilor International SA 74,643 9,094,395 
Eurazeo SA 13,458 1,055,860 
Eutelsat Communications 42,577 768,368 
Faurecia SA 18,974 963,614 
Gecina SA 11,497 1,716,329 
Groupe Eurotunnel SA 118,467 1,906,722 
Hermes International SCA 8,130 5,719,191 
ICADE 8,396 717,572 
Iliad SA 6,914 703,355 
Imerys SA 9,388 499,945 
Ingenico SA 15,184 1,280,003 
Ipsen SA 9,883 1,153,925 
JCDecaux SA 19,315 632,580 
Kering SA 19,637 11,607,101 
Klepierre SA 50,054 1,777,972 
L'Oreal SA (a) 5,097 1,401,187 
L'Oreal SA 59,324 16,308,414 
Legrand SA 69,432 5,102,366 
LVMH Moet Hennessy - Louis Vuitton SA 71,675 28,140,841 
Michelin CGDE Series B 44,323 5,731,429 
Natixis SA 232,837 1,370,515 
Orange SA 514,638 8,043,048 
Pernod Ricard SA 54,541 9,503,254 
Peugeot Citroen SA 154,524 4,048,618 
Publicis Groupe SA 55,753 3,313,752 
Remy Cointreau SA 5,844 778,690 
Renault SA 50,135 3,419,995 
Rexel SA 79,517 1,068,451 
Safran SA 87,121 12,698,855 
Sanofi SA 292,224 25,496,340 
Sartorius Stedim Biotech 6,950 943,210 
Schneider Electric SA 142,073 12,024,481 
SCOR SE 41,555 1,694,670 
SEB SA 5,527 1,011,690 
Societe Generale Series A 200,562 6,360,122 
Sodexo SA 20,669 2,370,395 
Sodexo SA (a) 2,580 295,884 
SR Teleperformance SA 14,695 2,823,352 
Suez Environnement SA 96,796 1,359,794 
Thales SA 28,703 3,426,975 
Total SA 621,651 34,558,045 
Ubisoft Entertainment SA (a) 21,222 2,027,512 
Valeo SA 60,409 2,193,221 
Veolia Environnement SA 135,812 3,208,001 
VINCI SA 130,890 13,219,399 
Vivendi SA 271,476 7,879,819 
Wendel SA 6,852 948,354 
TOTAL FRANCE  375,368,811 
Germany - 5.3%   
adidas AG 46,671 11,992,513 
Allianz SE 108,922 26,327,990 
Axel Springer Verlag AG 12,108 685,807 
BASF AG 237,680 19,404,424 
Bayer AG 242,291 16,125,858 
Bayerische Motoren Werke AG (BMW) 86,234 7,341,052 
Beiersdorf AG 25,353 2,770,797 
Brenntag AG 42,982 2,316,906 
Commerzbank AG 265,694 2,387,595 
Continental AG 28,841 4,766,811 
Covestro AG (d) 48,899 2,673,700 
Daimler AG (Germany) 236,008 15,442,982 
Delivery Hero AG (a)(d) 23,017 1,060,774 
Deutsche Bank AG 514,342 4,251,073 
Deutsche Borse AG 49,224 6,577,427 
Deutsche Lufthansa AG 61,628 1,487,505 
Deutsche Post AG 255,232 8,871,974 
Deutsche Telekom AG 857,642 14,369,709 
Deutsche Wohnen AG (Bearer) 93,644 4,208,597 
Drillisch AG (b) 14,165 528,099 
E.ON AG 569,717 6,125,440 
Evonik Industries AG 40,452 1,205,053 
Fraport AG Frankfurt Airport Services Worldwide 10,301 853,118 
Fresenius Medical Care AG & Co. KGaA 56,339 4,748,446 
Fresenius SE & Co. KGaA 108,263 6,141,817 
GEA Group AG 40,548 1,133,328 
Hannover Reuck SE 15,192 2,290,088 
HeidelbergCement Finance AG 39,378 3,179,978 
Henkel AG & Co. KGaA 25,787 2,456,983 
Hochtief AG 6,959 1,038,094 
Hugo Boss AG 15,894 1,108,108 
Infineon Technologies AG 296,509 7,028,919 
innogy SE (d) 33,019 1,532,842 
KION Group AG 17,925 1,227,190 
Lanxess AG 24,615 1,421,821 
Merck KGaA 34,666 3,689,066 
Metro Wholesale & Food Specialist AG 46,574 788,785 
MTU Aero Engines Holdings AG 13,151 3,093,109 
Muenchener Rueckversicherungs AG 38,666 9,671,016 
OSRAM Licht AG (b) 25,007 855,179 
ProSiebenSat.1 Media AG 58,938 931,724 
Puma AG 2,039 1,261,249 
RWE AG 136,754 3,492,537 
SAP SE 254,245 32,774,277 
Siemens AG 197,452 23,674,928 
Siemens Healthineers AG (d) 40,220 1,715,111 
Symrise AG 32,458 3,119,899 
Telefonica Deutschland Holding AG 182,919 594,149 
Thyssenkrupp AG 119,133 1,674,921 
TUI AG 7,441 83,191 
TUI AG (GB) 101,245 1,127,216 
Uniper SE 53,310 1,614,995 
United Internet AG 33,743 1,352,243 
Volkswagen AG 8,445 1,509,823 
Vonovia SE 127,563 6,362,530 
Wirecard AG (b) 30,504 4,574,316 
Zalando SE (a)(b)(d) 29,124 1,369,990 
TOTAL GERMANY  300,413,072 
Greece - 0.1%   
Alpha Bank AE (a) 369,831 573,257 
Ff Group (a)(c) 6,325 17,026 
Greek Organization of Football Prognostics SA 54,717 589,158 
Hellenic Telecommunications Organization SA 63,542 882,307 
Jumbo SA 29,422 534,595 
Motor Oil (HELLAS) Corinth Refineries SA 13,401 341,795 
Titan Cement Co. SA (Reg.) 8,915 193,582 
TOTAL GREECE  3,131,720 
Hong Kong - 2.7%   
AIA Group Ltd. 3,131,000 32,059,673 
Bank of East Asia Ltd. 332,388 1,048,670 
Beijing Enterprises Holdings Ltd. 114,000 606,708 
BOC Hong Kong (Holdings) Ltd. 964,000 4,313,227 
BYD Electronic International Co. Ltd. 156,000 278,799 
China Agri-Industries Holdings Ltd. 399,000 128,680 
China Everbright International Ltd. 825,481 808,140 
China Everbright Ltd. 210,000 382,266 
China Jinmao Holdings Group Ltd. 1,378,000 892,341 
China Merchants Holdings International Co. Ltd. 309,123 624,172 
China Mobile Ltd. 1,585,500 15,127,893 
China Overseas Land and Investment Ltd. 964,000 3,606,644 
China Power International Development Ltd. 842,000 224,324 
China Resources Beer Holdings Co. Ltd. 371,162 1,696,176 
China Resources Pharmaceutical Group Ltd. (d) 381,000 542,010 
China Resources Power Holdings Co. Ltd. 468,523 655,770 
China Taiping Insurance Group Ltd. 413,377 1,254,127 
China Travel International Investment HK Ltd. 430,000 99,212 
China Unicom Ltd. 1,522,000 1,807,183 
CITIC Pacific Ltd. 1,415,000 2,059,874 
CLP Holdings Ltd. 430,500 4,881,319 
CNOOC Ltd. 4,613,000 8,378,751 
CSPC Pharmaceutical Group Ltd. 1,244,000 2,397,675 
Far East Horizon Ltd. 526,000 584,012 
Fosun International Ltd. 643,000 996,696 
Galaxy Entertainment Group Ltd. 624,000 4,665,205 
Guangdong Investment Ltd. 710,000 1,330,435 
Hang Lung Group Ltd. 223,000 663,758 
Hang Lung Properties Ltd. 511,000 1,201,157 
Hang Seng Bank Ltd. 198,600 5,215,123 
Henderson Land Development Co. Ltd. 318,750 1,962,526 
Hong Kong & China Gas Co. Ltd. 2,433,891 5,810,328 
Hong Kong Exchanges and Clearing Ltd. 311,876 10,813,567 
Hua Hong Semiconductor Ltd. (d) 128,000 302,509 
Hysan Development Co. Ltd. 155,020 867,502 
Lenovo Group Ltd. 1,816,000 1,682,939 
Link (REIT) 549,547 6,409,794 
MMG Ltd. (a) 660,000 285,208 
MTR Corp. Ltd. 382,476 2,276,875 
New World Development Co. Ltd. 1,557,354 2,576,797 
PCCW Ltd. 1,050,913 633,645 
Power Assets Holdings Ltd. 364,000 2,538,089 
Shanghai Industrial Holdings Ltd. 98,000 230,359 
Shenzhen Investment Ltd. 610,000 242,607 
Sino Land Ltd. 903,770 1,589,846 
Sino-Ocean Group Holding Ltd. 847,591 380,318 
Sinotruk Hong Kong Ltd. 191,000 413,418 
SJM Holdings Ltd. 504,000 608,413 
Sun Art Retail Group Ltd. 592,872 517,690 
Sun Hung Kai Properties Ltd. 410,781 7,090,015 
Swire Pacific Ltd. (A Shares) 133,500 1,689,852 
Swire Properties Ltd. 292,600 1,187,960 
Techtronic Industries Co. Ltd. 364,500 2,634,503 
Wharf Holdings Ltd. 349,000 1,003,206 
Wheelock and Co. Ltd. 221,000 1,573,380 
Winteam Pharmaceutical Group Ltd. 670,000 380,061 
Yuexiu Property Co. Ltd. 1,796,000 416,673 
TOTAL HONG KONG  154,648,100 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 88,498 1,016,080 
OTP Bank PLC 56,203 2,490,861 
Richter Gedeon PLC 36,264 717,583 
TOTAL HUNGARY  4,224,524 
India - 2.2%   
Adani Ports & Special Economic Zone Ltd. (a) 134,202 756,882 
Ambuja Cements Ltd. 146,181 462,804 
Ashok Leyland Ltd. 331,161 413,434 
Asian Paints Ltd. 73,146 1,536,657 
Aurobindo Pharma Ltd. 69,695 819,614 
Avenue Supermarts Ltd. (a)(d) 31,951 594,319 
Axis Bank Ltd. (a) 496,746 5,469,434 
Bajaj Auto Ltd. 20,700 886,914 
Bajaj Finance Ltd. 43,172 1,919,083 
Bajaj Finserv Ltd. 9,425 1,017,707 
Bharat Forge Ltd. 68,985 467,761 
Bharat Petroleum Corp. Ltd. 184,915 1,008,514 
Bharti Airtel Ltd. 349,568 1,607,630 
Bharti Airtel Ltd. rights 5/17/19 (a) 99,131 142,760 
Bharti Infratel Ltd. 90,828 342,397 
Bosch Ltd. (a) 1,898 491,047 
Britannia Industries Ltd. 14,287 594,080 
Cadila Healthcare Ltd. 83,437 389,889 
Cipla Ltd. (a) 90,960 737,898 
Coal India Ltd. 303,619 1,099,222 
Container Corp. of India Ltd. 54,752 387,722 
Dabur India Ltd. 133,446 762,773 
Divi's Laboratories Ltd. 21,928 549,987 
Dr. Reddy's Laboratories Ltd. 30,739 1,292,080 
Eicher Motors Ltd. 3,284 960,407 
GAIL India Ltd. (a) 195,015 996,677 
Glenmark Pharmaceuticals Ltd. 54,786 502,181 
Godrej Consumer Products Ltd. 92,491 865,588 
Grasim Industries Ltd. (a) 83,204 1,076,621 
Havells India Ltd. (a) 75,345 838,026 
HCL Technologies Ltd. 137,661 2,338,954 
Hero Motocorp Ltd. 13,029 469,897 
Hindalco Industries Ltd. 302,746 895,671 
Hindustan Petroleum Corp. Ltd. 155,166 648,874 
Hindustan Unilever Ltd. 167,044 4,215,734 
Housing Development Finance Corp. Ltd. 423,299 12,125,471 
ICICI Bank Ltd. 629,691 3,665,267 
Indiabulls Housing Finance Ltd. 71,816 717,108 
Indian Oil Corp. Ltd. 454,770 1,032,010 
Infosys Ltd. 872,626 9,386,447 
Infosys Ltd. sponsored ADR 36,337 390,986 
InterGlobe Aviation Ltd. (d) 21,410 466,337 
ITC Ltd. 880,867 3,811,353 
JSW Steel Ltd. 209,972 929,615 
Larsen & Toubro Ltd. 128,495 2,488,003 
LIC Housing Finance Ltd. 78,133 557,276 
Lupin Ltd. (a) 58,789 736,097 
Mahindra & Mahindra Financial Services Ltd. 68,416 393,569 
Mahindra & Mahindra Ltd. 186,150 1,724,735 
Marico Ltd. 112,994 583,084 
Maruti Suzuki India Ltd. 27,985 2,678,639 
Motherson Sumi Systems Ltd. 240,998 506,931 
Nestle India Ltd. 5,699 892,347 
NTPC Ltd. 591,560 1,138,579 
Oil & Natural Gas Corp. Ltd. 650,103 1,579,356 
Page Industries Ltd. 1,513 501,644 
Petronet LNG Ltd. 159,918 553,710 
Pidilite Industries Ltd. 30,880 547,373 
Piramal Enterprises Ltd. 21,241 720,365 
Power Grid Corp. of India Ltd. 494,056 1,322,269 
Rec Ltd. 157,752 334,204 
Reliance Industries Ltd. 737,857 14,755,657 
Shree Cement Ltd. 2,037 578,793 
Shriram Transport Finance Co. Ltd. 39,211 625,461 
State Bank of India (a) 446,135 1,985,434 
Sun Pharmaceutical Industries Ltd. 215,581 1,416,581 
Tata Consultancy Services Ltd. 233,436 7,576,020 
Tata Motors Ltd. (a) 425,173 1,309,099 
Tata Power Co. Ltd. 245,049 238,550 
Tata Steel Ltd. 91,930 735,472 
Tech Mahindra Ltd. (a) 115,094 1,381,683 
Titan Co. Ltd. 85,202 1,417,301 
Ultratech Cemco Ltd. (a) 23,966 1,588,672 
United Spirits Ltd. (a) 77,468 624,109 
UPL Ltd. (a) 97,810 1,361,043 
Vedanta Ltd. 317,587 760,828 
Vodafone Idea Ltd. (a) 1,980,963 439,443 
Wipro Ltd. 385,463 1,654,265 
Yes Bank Ltd. 438,367 1,057,413 
Zee Entertainment Enterprises Ltd. 119,290 740,949 
TOTAL INDIA  127,588,786 
Indonesia - 0.5%   
PT Adaro Energy Tbk 3,885,300 355,812 
PT Astra International Tbk 5,327,700 2,850,787 
PT Bank Central Asia Tbk 2,539,300 5,123,149 
PT Bank Mandiri (Persero) Tbk 4,924,600 2,682,942 
PT Bank Negara Indonesia (Persero) Tbk 2,011,800 1,355,318 
PT Bank Rakyat Indonesia Tbk 14,387,400 4,412,136 
PT Bank Tabungan Negara Tbk 811,400 144,059 
PT Bumi Serpong Damai Tbk (a) 1,483,600 149,401 
PT Charoen Pokphand Indonesia Tbk 1,861,100 688,934 
PT Gudang Garam Tbk 119,300 707,219 
PT Hanjaya Mandala Sampoerna Tbk 2,496,000 613,053 
PT Indah Kiat Pulp & Paper Tbk 725,900 376,959 
PT Indocement Tunggal Prakarsa Tbk 467,800 722,218 
PT Indofood CBP Sukses Makmur Tbk 645,200 440,321 
PT Indofood Sukses Makmur Tbk 1,123,800 548,099 
PT Jasa Marga Tbk 504,596 216,003 
PT Kalbe Farma Tbk 5,920,600 641,918 
PT Pabrik Kertas Tjiwi Kimia Tbk 304,600 215,358 
PT Pakuwon Jati Tbk 3,488,300 175,027 
PT Perusahaan Gas Negara Tbk Series B 3,000,600 488,519 
PT Semen Gresik (Persero) Tbk 772,400 731,747 
PT Surya Citra Media Tbk 1,168,600 152,533 
PT Tambang Batubara Bukit Asam Tbk 634,600 176,352 
PT Telekomunikasi Indonesia Tbk Series B 12,957,700 3,450,471 
PT Tower Bersama Infrastructure Tbk 509,900 141,341 
PT Unilever Indonesia Tbk 384,000 1,226,105 
PT United Tractors Tbk 420,300 801,519 
TOTAL INDONESIA  29,587,300 
Ireland - 0.4%   
AIB Group PLC 212,970 988,432 
Bank Ireland Group PLC 248,707 1,587,224 
CRH PLC 205,565 6,915,351 
CRH PLC sponsored ADR 15,347 516,427 
DCC PLC (United Kingdom) 25,063 2,238,074 
James Hardie Industries PLC CDI 113,758 1,546,135 
Kerry Group PLC Class A 39,575 4,429,855 
Kingspan Group PLC (Ireland) 38,163 2,006,634 
Paddy Power Betfair PLC (Ireland) 19,739 1,653,360 
Ryanair Holdings PLC (a) 13,206 176,801 
Ryanair Holdings PLC sponsored ADR (a) 5,007 388,743 
Smurfit Kappa Group PLC 57,179 1,675,768 
TOTAL IRELAND  24,122,804 
Isle of Man - 0.1%   
Gaming VC Holdings SA 136,689 1,163,567 
Genting Singapore Ltd. 1,521,400 1,101,815 
NEPI Rockcastle PLC 96,352 803,079 
TOTAL ISLE OF MAN  3,068,461 
Israel - 0.3%   
Azrieli Group 10,917 621,410 
Bank Hapoalim BM (Reg.) 268,507 1,973,905 
Bank Leumi le-Israel BM 369,273 2,525,830 
Bezeq The Israel Telecommunication Corp. Ltd. 568,141 388,451 
Check Point Software Technologies Ltd. (a) 33,246 4,014,787 
Elbit Systems Ltd. (Israel) 5,576 776,126 
Israel Chemicals Ltd. 176,696 935,549 
Mizrahi Tefahot Bank Ltd. 34,773 751,815 
NICE Systems Ltd. (a) 14,743 2,034,054 
NICE Systems Ltd. sponsored ADR (a) 976 134,551 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 254,095 3,867,326 
Wix.com Ltd. (a) 10,944 1,468,247 
TOTAL ISRAEL  19,492,051 
Italy - 1.2%   
Assicurazioni Generali SpA 293,262 5,690,362 
Atlantia SpA 124,653 3,400,199 
Davide Campari-Milano SpA 148,938 1,500,934 
Enel SpA 2,094,465 13,262,495 
Eni SpA 655,152 11,164,539 
Intesa Sanpaolo SpA 3,888,115 10,186,925 
Leonardo SpA 103,564 1,195,840 
Mediobanca SpA 158,314 1,677,989 
Moncler SpA 45,404 1,862,332 
Pirelli & C. SpA (d) 99,701 727,755 
Poste Italiane SpA (d) 132,798 1,416,479 
Prysmian SpA 60,454 1,165,572 
Recordati SpA 27,205 1,098,167 
Snam Rete Gas SpA 564,176 2,870,922 
Telecom Italia SpA (a) 2,765,005 1,547,782 
Terna SpA 382,107 2,287,713 
UniCredit SpA 525,050 7,261,089 
TOTAL ITALY  68,317,094 
Japan - 15.0%   
ABC-MART, Inc. 8,400 521,819 
ACOM Co. Ltd. 98,900 346,254 
AEON Co. Ltd. 163,800 3,021,025 
AEON Financial Service Co. Ltd. 28,600 590,255 
AEON MALL Co. Ltd. 27,870 426,325 
Agc, Inc. 50,800 1,726,092 
Air Water, Inc. 37,200 565,038 
Aisin Seiki Co. Ltd. 41,300 1,596,090 
Ajinomoto Co., Inc. 116,500 1,874,647 
Alfresa Holdings Corp. 46,700 1,297,513 
All Nippon Airways Ltd. 29,600 1,033,124 
Alps Electric Co. Ltd. 60,800 1,281,005 
Amada Holdings Co. Ltd. 86,800 963,102 
Aozora Bank Ltd. 30,600 744,157 
Asahi Group Holdings 94,600 4,100,933 
ASAHI INTECC Co. Ltd. 23,700 1,193,563 
Asahi Kasei Corp. 333,000 3,416,841 
Asics Corp. 44,000 539,162 
Astellas Pharma, Inc. 496,500 6,724,534 
Bandai Namco Holdings, Inc. 53,600 2,550,204 
Bank of Kyoto Ltd. 13,500 581,714 
Benesse Holdings, Inc. 19,500 536,537 
Bridgestone Corp. 155,700 6,158,393 
Brother Industries Ltd. 57,800 1,132,703 
Calbee, Inc. 21,100 579,613 
Canon, Inc. 259,100 7,189,527 
Casio Computer Co. Ltd. 47,000 591,113 
Central Japan Railway Co. 37,200 7,979,658 
Chiba Bank Ltd. 154,300 804,778 
Chubu Electric Power Co., Inc. 151,800 2,202,153 
Chugai Pharmaceutical Co. Ltd. 59,900 3,785,592 
Chugoku Electric Power Co., Inc. 69,300 825,541 
Coca-Cola West Co. Ltd. 33,200 815,731 
Concordia Financial Group Ltd. 268,500 1,041,268 
Credit Saison Co. Ltd. 41,200 523,715 
CyberAgent, Inc. 26,800 1,065,793 
Dai Nippon Printing Co. Ltd. 60,400 1,427,651 
Dai-ichi Mutual Life Insurance Co. 285,100 4,082,181 
Daicel Chemical Industries Ltd. 65,700 732,523 
Daifuku Co. Ltd. 25,900 1,576,390 
Daiichi Sankyo Kabushiki Kaisha 147,300 7,247,644 
Daikin Industries Ltd. 64,700 8,237,570 
Dainippon Sumitomo Pharma Co. Ltd. 40,900 899,547 
Daito Trust Construction Co. Ltd. 18,300 2,442,026 
Daiwa House Industry Co. Ltd. 149,600 4,177,976 
Daiwa House REIT Investment Corp. 476 1,091,773 
Daiwa Securities Group, Inc. 432,700 2,014,147 
DeNA Co. Ltd. 36,000 560,707 
DENSO Corp. 111,300 4,848,861 
Dentsu, Inc. 54,700 2,226,891 
Disco Corp. 7,100 1,216,105 
East Japan Railway Co. 78,700 7,393,469 
Eisai Co. Ltd. 65,900 3,818,112 
Electric Power Development Co. Ltd. 34,900 808,313 
FamilyMart Co. Ltd. 63,200 1,683,896 
Fanuc Corp. 50,300 9,450,141 
Fast Retailing Co. Ltd. 15,200 8,768,365 
Fuji Electric Co. Ltd. 30,300 1,067,620 
Fujifilm Holdings Corp. 100,000 4,653,710 
Fujitsu Ltd. 51,700 3,775,569 
Fukuoka Financial Group, Inc. 44,100 1,019,809 
Hakuhodo DY Holdings, Inc. 59,500 1,000,435 
Hamamatsu Photonics K.K. 38,400 1,552,960 
Hankyu Hanshin Holdings, Inc. 60,600 2,257,642 
Hikari Tsushin, Inc. 5,200 958,822 
Hino Motors Ltd. 66,800 628,452 
Hirose Electric Co. Ltd. 7,683 886,964 
Hisamitsu Pharmaceutical Co., Inc. 15,300 646,914 
Hitachi Chemical Co. Ltd. 28,500 754,747 
Hitachi Construction Machinery Co. Ltd. 27,100 717,671 
Hitachi High-Technologies Corp. 17,800 790,969 
Hitachi Ltd. 251,400 8,325,460 
Hitachi Metals Ltd. 54,600 627,879 
Honda Motor Co. Ltd. 419,900 11,716,449 
Hoshizaki Corp. 14,000 904,888 
Hoya Corp. 99,100 6,952,435 
Hulic Co. Ltd. 74,800 643,282 
Idemitsu Kosan Co. Ltd. 52,593 1,702,031 
IHI Corp. 37,500 887,719 
Iida Group Holdings Co. Ltd. 35,600 600,497 
INPEX Corp. 259,400 2,517,271 
Isetan Mitsukoshi Holdings Ltd. 85,400 811,873 
Isuzu Motors Ltd. 140,400 2,010,936 
Itochu Corp. 348,300 6,253,423 
J. Front Retailing Co. Ltd. 61,700 750,514 
Japan Airlines Co. Ltd. 33,800 1,131,471 
Japan Airport Terminal Co. Ltd. 12,700 534,131 
Japan Exchange Group, Inc. 128,300 2,082,377 
Japan Post Bank Co. Ltd. 95,100 1,044,098 
Japan Post Holdings Co. Ltd. 403,100 4,497,987 
Japan Prime Realty Investment Corp. 196 782,979 
Japan Real Estate Investment Corp. 354 1,960,752 
Japan Retail Fund Investment Corp. 627 1,198,896 
Japan Tobacco, Inc. 281,000 6,493,242 
JFE Holdings, Inc. 130,600 2,233,431 
JGC Corp. 53,100 756,971 
JSR Corp. 48,000 727,358 
JTEKT Corp. 51,600 661,936 
JX Holdings, Inc. 841,000 4,082,128 
Kajima Corp. 112,900 1,667,225 
Kakaku.com, Inc. 34,700 710,229 
Kamigumi Co. Ltd. 26,700 635,652 
Kaneka Corp. 12,800 491,799 
Kansai Electric Power Co., Inc. 178,400 2,154,829 
Kansai Paint Co. Ltd. 42,800 812,622 
Kao Corp. 126,500 9,717,317 
Kawasaki Heavy Industries Ltd. 37,600 872,872 
KDDI Corp. 457,600 10,546,558 
Keihan Electric Railway Co., Ltd. 23,100 979,824 
Keihin Electric Express Railway Co. Ltd. 56,400 959,957 
Keio Corp. 26,200 1,575,834 
Keisei Electric Railway Co. 33,200 1,159,370 
Keyence Corp. 25,220 15,648,875 
Kikkoman Corp. 39,000 1,806,544 
Kintetsu Group Holdings Co. Ltd. 45,800 2,029,023 
Kirin Holdings Co. Ltd. 214,900 4,860,546 
Kobayashi Pharmaceutical Co. Ltd. 12,600 1,002,163 
Kobe Steel Ltd. 75,300 573,901 
Koito Manufacturing Co. Ltd. 26,700 1,586,732 
Komatsu Ltd. 240,800 6,219,963 
Konami Holdings Corp. 23,500 1,067,463 
Konica Minolta, Inc. 116,600 1,166,052 
Kose Corp. 7,800 1,459,940 
Kubota Corp. 257,200 3,885,880 
Kuraray Co. Ltd. 78,800 1,051,893 
Kurita Water Industries Ltd. 26,500 686,557 
Kyocera Corp. 83,800 5,408,878 
Kyowa Hakko Kirin Co., Ltd. 68,400 1,323,851 
Kyushu Electric Power Co., Inc. 93,300 902,052 
Kyushu Railway Co. 41,200 1,338,875 
Lawson, Inc. 11,800 549,773 
LINE Corp. (a)(b) 17,900 599,730 
Lion Corp. 58,200 1,195,400 
LIXIL Group Corp. 66,500 863,822 
M3, Inc. 107,000 1,891,315 
Makita Corp. 58,700 2,134,162 
Marubeni Corp. 396,300 2,828,656 
Marui Group Co. Ltd. 45,900 929,991 
Maruichi Steel Tube Ltd. 14,500 399,614 
Mazda Motor Corp. 147,000 1,735,971 
McDonald's Holdings Co. (Japan) Ltd. 16,100 744,333 
Mebuki Financial Group, Inc. 210,940 535,895 
Medipal Holdings Corp. 47,200 1,057,175 
Meiji Holdings Co. Ltd. 30,600 2,403,609 
Minebea Mitsumi, Inc. 98,800 1,747,260 
Misumi Group, Inc. 71,900 1,857,608 
Mitsubishi Chemical Holdings Corp. 343,500 2,433,286 
Mitsubishi Corp. 351,100 9,632,045 
Mitsubishi Electric Corp. 472,800 6,714,571 
Mitsubishi Estate Co. Ltd. 310,100 5,220,993 
Mitsubishi Gas Chemical Co., Inc. 41,900 624,391 
Mitsubishi Heavy Industries Ltd. 78,700 3,264,713 
Mitsubishi Materials Corp. 25,900 670,547 
Mitsubishi Motors Corp. of Japan 164,900 922,238 
Mitsubishi Tanabe Pharma Corp. 67,300 844,611 
Mitsubishi UFJ Financial Group, Inc. 3,012,700 14,947,590 
Mitsubishi UFJ Lease & Finance Co. Ltd. 103,300 523,015 
Mitsui & Co. Ltd. 430,800 6,937,970 
Mitsui Chemicals, Inc. 46,200 1,127,264 
Mitsui Fudosan Co. Ltd. 233,700 5,385,411 
Mitsui OSK Lines Ltd. 29,100 736,676 
Mizuho Financial Group, Inc. 6,137,300 9,584,791 
MonotaRO Co. Ltd. 32,500 747,475 
MS&AD Insurance Group Holdings, Inc. 117,800 3,635,678 
Murata Manufacturing Co. Ltd. 140,200 7,039,955 
Nabtesco Corp. 29,000 882,535 
Nagoya Railroad Co. Ltd. 51,400 1,388,877 
NEC Corp. 66,000 2,218,861 
New Hampshire Foods Ltd. 21,900 878,792 
Nexon Co. Ltd. (a) 114,200 1,636,188 
NGK Insulators Ltd. 75,400 1,112,775 
NGK Spark Plug Co. Ltd. 38,500 745,496 
Nidec Corp. 58,000 8,218,771 
Nikon Corp. 89,600 1,246,735 
Nintendo Co. Ltd. 29,500 10,160,265 
Nippon Building Fund, Inc. 361 2,323,596 
Nippon Electric Glass Co. Ltd. 21,800 596,885 
Nippon Express Co. Ltd. 18,900 1,034,966 
Nippon Paint Holdings Co. Ltd. 36,700 1,388,666 
Nippon Prologis REIT, Inc. 436 935,446 
Nippon Steel & Sumitomo Metal Corp. 201,770 3,587,284 
Nippon Telegraph & Telephone Corp. 165,900 6,902,839 
Nippon Yusen KK 43,000 731,882 
Nissan Chemical Corp. 34,800 1,540,141 
Nissan Motor Co. Ltd. 590,900 4,743,771 
Nisshin Seifun Group, Inc. 49,595 1,150,442 
Nissin Food Holdings Co. Ltd. 17,600 1,158,113 
Nitori Holdings Co. Ltd. 20,300 2,414,606 
Nitto Denko Corp. 41,800 2,247,695 
NKSJ Holdings, Inc. 79,650 2,975,211 
Nomura Holdings, Inc. 903,000 3,418,956 
Nomura Real Estate Holdings, Inc. 30,400 642,686 
Nomura Real Estate Master Fund, Inc. 973 1,424,627 
Nomura Research Institute Ltd. 28,902 1,408,841 
NSK Ltd. 86,100 888,864 
NTT Data Corp. 161,000 1,870,228 
NTT DOCOMO, Inc. 343,500 7,459,304 
Obayashi Corp. 164,400 1,607,178 
OBIC Co. Ltd. 16,400 1,893,299 
Odakyu Electric Railway Co. Ltd. 74,100 1,738,834 
Oji Holdings Corp. 219,200 1,310,536 
Olympus Corp. 293,200 3,274,301 
OMRON Corp. 50,700 2,708,066 
Ono Pharmaceutical Co. Ltd. 113,200 2,113,195 
Oracle Corp. Japan 9,500 648,997 
Oriental Land Co. Ltd. 52,000 5,727,726 
ORIX Corp. 342,000 4,824,750 
Osaka Gas Co. Ltd. 104,200 1,922,268 
Otsuka Corp. 26,900 1,055,281 
Otsuka Holdings Co. Ltd. 106,100 3,780,339 
Pan Pacific International Hold 30,000 1,930,966 
Panasonic Corp. 583,900 5,376,668 
Park24 Co. Ltd. 30,300 634,588 
Persol Holdings Co., Ltd. 46,600 871,802 
Pigeon Corp. 30,000 1,269,806 
Pola Orbis Holdings, Inc. 23,300 732,080 
Rakuten, Inc. 218,200 2,419,112 
Recruit Holdings Co. Ltd. 286,300 8,555,974 
Renesas Electronics Corp. (a) 202,900 1,080,118 
Resona Holdings, Inc. 559,100 2,357,460 
Ricoh Co. Ltd. 166,500 1,678,527 
Rinnai Corp. 8,400 564,047 
ROHM Co. Ltd. 25,100 1,836,393 
Ryohin Keikaku Co. Ltd. 6,100 1,157,628 
Sankyo Co. Ltd. (Gunma) 10,400 409,390 
Santen Pharmaceutical Co. Ltd. 96,900 1,473,572 
SBI Holdings, Inc. Japan 61,330 1,306,487 
Secom Co. Ltd. 54,900 4,602,147 
Sega Sammy Holdings, Inc. 45,400 572,212 
Seibu Holdings, Inc. 57,200 927,873 
Seiko Epson Corp. 71,100 1,135,481 
Sekisui Chemical Co. Ltd. 93,300 1,491,694 
Sekisui House Ltd. 171,400 2,757,294 
Seven & i Holdings Co. Ltd. 198,100 6,855,708 
Seven Bank Ltd. 165,800 449,496 
SG Holdings Co. Ltd. 24,000 640,962 
Sharp Corp. 55,800 619,137 
Shimadzu Corp. 55,300 1,476,388 
Shimamura Co. Ltd. 5,800 431,635 
SHIMANO, Inc. 19,700 2,880,856 
SHIMIZU Corp. 136,100 1,159,468 
Shin-Etsu Chemical Co. Ltd. 94,100 8,913,578 
Shinsei Bank Ltd. 47,400 656,141 
Shionogi & Co. Ltd. 73,600 4,278,770 
Shiseido Co. Ltd. 98,500 7,708,811 
Shizuoka Bank Ltd. 107,700 821,805 
Showa Denko K.K. 36,700 1,240,410 
SMC Corp. 14,900 6,160,905 
SoftBank Corp. 213,500 22,637,701 
SoftBank Corp. 432,600 5,095,123 
Sohgo Security Services Co., Ltd. 17,400 773,975 
Sony Corp. 329,600 16,601,329 
Sony Financial Holdings, Inc. 46,100 938,181 
Stanley Electric Co. Ltd. 33,300 899,798 
Subaru Corp. 160,700 3,924,632 
Sumco Corp. 59,400 778,527 
Sumitomo Chemical Co. Ltd. 374,100 1,853,792 
Sumitomo Corp. 297,200 4,240,759 
Sumitomo Electric Industries Ltd. 187,700 2,484,525 
Sumitomo Heavy Industries Ltd. 27,600 972,485 
Sumitomo Metal Mining Co. Ltd. 59,200 1,848,887 
Sumitomo Mitsui Financial Group, Inc. 341,400 12,408,604 
Sumitomo Mitsui Trust Holdings, Inc. 86,800 3,028,553 
Sumitomo Realty & Development Co. Ltd. 94,500 3,480,708 
Sumitomo Rubber Industries Ltd. 42,800 525,226 
Sundrug Co. Ltd. 19,100 510,271 
Suntory Beverage & Food Ltd. 35,200 1,548,364 
Suzuken Co. Ltd. 18,630 1,070,353 
Suzuki Motor Corp. 90,000 4,092,194 
Sysmex Corp. 42,400 2,417,746 
T&D Holdings, Inc. 140,500 1,509,118 
Taiheiyo Cement Corp. 30,300 971,058 
Taisei Corp. 54,000 2,363,212 
Taisho Pharmaceutical Holdings Co. Ltd. 11,000 1,015,126 
Taiyo Nippon Sanso Corp. 35,300 585,930 
Takashimaya Co. Ltd. 34,400 385,705 
Takeda Pharmaceutical Co. Ltd. 384,696 14,195,946 
TDK Corp. 33,000 2,870,596 
Teijin Ltd. 43,800 749,824 
Terumo Corp. 159,500 4,792,374 
THK Co. Ltd. 30,600 798,273 
Tobu Railway Co. Ltd. 54,500 1,536,245 
Toho Co. Ltd. 28,200 1,178,428 
Toho Gas Co. Ltd. 18,000 740,069 
Tohoku Electric Power Co., Inc. 106,600 1,217,247 
Tokio Marine Holdings, Inc. 167,700 8,433,551 
Tokyo Century Corp. 11,200 514,781 
Tokyo Electric Power Co., Inc. (a) 366,800 2,067,870 
Tokyo Electron Ltd. 40,900 6,478,572 
Tokyo Gas Co. Ltd. 103,600 2,629,177 
Tokyu Corp. 125,800 2,046,318 
Tokyu Fudosan Holdings Corp. 156,500 879,474 
Toppan Printing Co. Ltd. 59,000 953,894 
Toray Industries, Inc. 351,600 2,406,025 
Toshiba Corp. 169,200 5,620,001 
Tosoh Corp. 66,300 1,062,395 
Toto Ltd. 35,000 1,473,585 
Toyo Seikan Group Holdings Ltd. 38,700 770,908 
Toyo Suisan Kaisha Ltd. 21,800 828,789 
Toyoda Gosei Co. Ltd. 14,600 302,760 
Toyota Industries Corp. 36,200 2,047,309 
Toyota Motor Corp. 586,882 36,334,132 
Toyota Tsusho Corp. 53,500 1,767,404 
Trend Micro, Inc. 30,900 1,542,295 
Tsuruha Holdings, Inc. 9,500 807,622 
Unicharm Corp. 105,800 3,465,723 
United Urban Investment Corp. 741 1,182,726 
USS Co. Ltd. 53,600 1,022,969 
Welcia Holdings Co. Ltd. 12,700 498,788 
West Japan Railway Co. 41,000 3,040,908 
Yahoo! Japan Corp. 715,900 1,902,297 
Yakult Honsha Co. Ltd. 30,400 2,060,416 
Yamada Denki Co. Ltd. (b) 160,600 759,785 
Yamaguchi Financial Group, Inc. 54,000 397,504 
Yamaha Corp. 33,600 1,734,369 
Yamaha Motor Co. Ltd. 72,000 1,478,846 
Yamato Holdings Co. Ltd. 82,900 1,795,379 
Yamazaki Baking Co. Ltd. 30,000 444,903 
Yaskawa Electric Corp. 61,700 2,268,158 
Yokogawa Electric Corp. 57,300 1,192,346 
Yokohama Rubber Co. Ltd. 32,100 603,127 
Zozo, Inc. 50,100 883,760 
TOTAL JAPAN  857,519,561 
Korea (South) - 3.0%   
AMOREPACIFIC Corp. 8,507 1,520,138 
AMOREPACIFIC Group, Inc. 7,596 490,734 
BGF Retail Co. Ltd. 2,055 385,751 
BS Financial Group, Inc. 65,933 397,067 
Celltrion Healthcare Co. Ltd. 12,381 804,120 
Celltrion Pharm, Inc. 3,791 193,457 
Celltrion, Inc. (a) 21,780 3,966,770 
Cheil Industries, Inc. 18,949 1,668,605 
Cheil Worldwide, Inc. 18,753 410,017 
CJ CheilJedang Corp. 2,142 579,660 
CJ Corp. 3,751 385,086 
CJ O Shopping Co. Ltd. 2,741 515,464 
Daelim Industrial Co. 7,020 583,789 
Daewoo Engineering & Construction Co. Ltd. (a) 34,104 147,666 
Daewoo Shipbuilding & Marine Engineering Co. Ltd. (a) 8,444 210,735 
Db Insurance Co. Ltd. (a) 12,533 736,469 
DGB Financial Group Co. Ltd. 37,264 269,553 
Doosan Bobcat, Inc. 10,286 282,332 
E-Mart Co. Ltd. 5,203 768,822 
Fila Korea Ltd. 12,846 909,365 
GS Engineering & Construction Corp. 15,551 542,410 
GS Holdings Corp. 12,945 578,294 
GS Retail Co. Ltd. 5,894 198,237 
Hana Financial Group, Inc. 75,494 2,386,731 
Hankook Tire Co. Ltd. 18,972 647,878 
Hanmi Pharm Co. Ltd. 1,670 623,375 
Hanmi Science Co. Ltd. 6,107 394,538 
Hanon Systems 49,634 535,139 
Hanwha Chemical Corp. 27,183 481,070 
Hanwha Corp. 13,009 330,810 
Hanwha Life Insurance Co. Ltd. 62,699 214,920 
HDC Hyundai Development Co. 6,658 266,547 
HLB, Inc. (a) 9,043 651,805 
Hotel Shilla Co. 8,295 819,516 
Hyundai Department Store Co. Ltd. 2,962 258,282 
Hyundai Engineering & Construction Co. Ltd. 19,168 864,529 
Hyundai Fire & Marine Insurance Co. Ltd. 14,536 477,661 
Hyundai Glovis Co. Ltd. 4,745 650,190 
Hyundai Heavy Industries Co. Ltd. (a) 9,904 1,059,310 
Hyundai Mobis 17,229 3,441,330 
Hyundai Motor Co. 35,247 4,193,872 
Hyundai Robotics Co. Ltd. 2,439 716,607 
Hyundai Steel Co. 19,873 790,474 
Industrial Bank of Korea 62,533 760,167 
ING Life Insurance Korea Ltd. (d) 7,750 237,025 
Kakao Corp. 12,715 1,310,813 
Kangwon Land, Inc. 29,393 858,551 
KB Financial Group, Inc. 103,760 4,111,575 
KCC Corp. 1,629 496,813 
Kia Motors Corp. 68,919 2,679,174 
Korea Aerospace Industries Ltd. 19,223 578,006 
Korea Electric Power Corp. 67,753 1,646,035 
Korea Express Co. Ltd. (a) 1,892 256,003 
Korea Gas Corp. (a) 6,542 259,373 
Korea Investment Holdings Co. Ltd. 10,906 640,863 
Korea Zinc Co. Ltd. 2,109 819,858 
Korean Air Lines Co. Ltd. 15,113 430,405 
KT Corp. 2,367 55,597 
KT Corp. sponsored ADR 19,313 232,335 
KT&G Corp. 30,620 2,683,173 
Kumho Petro Chemical Co. Ltd. (a) 4,822 380,288 
LG Chemical Ltd. 11,595 3,596,013 
LG Corp. 24,232 1,519,691 
LG Display Co. Ltd. 57,107 974,546 
LG Electronics, Inc. 29,147 1,898,044 
LG Household & Health Care Ltd. 2,482 3,032,108 
LG Innotek Co. Ltd. 3,241 341,082 
LG Telecom Ltd. 24,650 302,828 
Lotte Chemical Corp. 4,202 969,267 
Lotte Confectionery Co. Ltd. (a) 6,424 270,700 
Lotte Shopping Co. Ltd. 2,991 457,383 
Medy-Tox, Inc. 1,201 576,867 
Mirae Asset Daewoo Co. Ltd. 106,481 713,526 
NAVER Corp. 36,808 3,778,796 
NCSOFT Corp. 4,693 2,120,702 
Netmarble Corp. (d) 6,532 715,484 
Oci Co. Ltd. 4,821 385,594 
Orion Corp./Republic of Korea 5,485 456,608 
Ottogi Corp. 341 212,684 
Pearl Abyss Corp. (a) 1,742 260,849 
POSCO 20,671 4,540,636 
POSCO Chemtech Co. Ltd. 6,573 323,565 
Posco International Corp. 10,498 165,044 
S-Oil Corp. 11,126 881,279 
S1 Corp. 4,862 409,340 
Samsung Biologics Co. Ltd. (a)(d) 4,078 1,191,158 
Samsung Card Co. Ltd. 5,624 179,251 
Samsung Electro-Mechanics Co. Ltd. 14,459 1,347,756 
Samsung Electronics Co. Ltd. 1,232,224 48,536,929 
Samsung Engineering Co. Ltd. (a) 41,688 610,631 
Samsung Fire & Marine Insurance Co. Ltd. 8,301 2,167,940 
Samsung Heavy Industries Co. Ltd. (a) 109,014 769,835 
Samsung Life Insurance Co. Ltd. 17,621 1,285,232 
Samsung SDI Co. Ltd. 14,022 2,848,947 
Samsung SDS Co. Ltd. 9,441 1,760,034 
Samsung Securities Co. Ltd. 16,509 505,619 
Shinhan Financial Group Co. Ltd. 111,029 4,211,254 
Shinsegae Co. Ltd. 1,949 569,291 
SillaJen, Inc. (a) 14,789 830,921 
SK C&C Co. Ltd. 8,513 1,875,916 
SK Energy Co. Ltd. 17,106 2,681,974 
SK Hynix, Inc. 150,822 10,236,113 
SK Telecom Co. Ltd. 5,002 1,064,727 
STX Pan Ocean Co. Ltd. (Korea) (a) 53,342 218,361 
ViroMed Co. Ltd. (a) 3,427 766,358 
Woongjin Coway Co. Ltd. 12,660 954,930 
Woori Financial Group, Inc. (a) 119,595 1,423,004 
Woori Investment & Securities Co. Ltd. 39,638 468,228 
Yuhan Corp. 2,466 520,101 
TOTAL KOREA (SOUTH)  170,712,325 
Luxembourg - 0.2%   
ArcelorMittal SA (Netherlands) 177,125 3,839,766 
Aroundtown SA 195,597 1,585,251 
Eurofins Scientific SA (b) 2,951 1,350,415 
Millicom International Cellular SA (depository receipt) 16,977 993,019 
Reinet Investments SCA 38,527 648,993 
RTL Group SA 12,216 686,443 
SES SA (France) (depositary receipt) 90,353 1,537,327 
Tenaris SA 119,328 1,654,105 
TOTAL LUXEMBOURG  12,295,319 
Malaysia - 0.5%   
AirAsia Group BHD 433,400 286,173 
Alliance Bank Malaysia Bhd 222,900 218,884 
AMMB Holdings Bhd 410,200 443,486 
Axiata Group Bhd 681,483 654,369 
British American Tobacco (Malaysia) Bhd 42,700 360,025 
Bumiputra-Commerce Holdings Bhd 1,300,713 1,657,941 
Dialog Group Bhd 921,622 717,771 
DiGi.com Bhd 771,400 858,251 
Fraser & Neave Holdings BHD 38,300 323,297 
Gamuda Bhd 541,700 458,568 
Genting Bhd 548,200 933,445 
Genting Malaysia Bhd 787,000 605,311 
Genting Plantations Bhd 48,500 123,405 
Hap Seng Consolidated Bhd 125,000 298,706 
Hartalega Holdings Bhd 322,300 392,108 
Hong Leong Bank Bhd 155,500 751,455 
Hong Leong Credit Bhd 45,600 211,980 
IHH Healthcare Bhd 584,600 786,159 
IJM Corp. Bhd 653,100 369,635 
IOI Corp. Bhd 509,200 555,446 
IOI Properties Group Bhd 382,750 126,827 
Kuala Lumpur Kepong Bhd 101,000 604,363 
Malayan Banking Bhd 954,243 2,134,901 
Malaysia Airports Holdings Bhd 258,802 477,605 
Maxis Bhd 595,500 772,011 
MISC Bhd 253,700 423,396 
Nestle (Malaysia) BHD 13,000 459,378 
Petronas Chemicals Group Bhd 640,800 1,394,897 
Petronas Dagangan Bhd 55,700 325,753 
Petronas Gas Bhd 175,600 750,903 
PPB Group Bhd 142,980 648,762 
Press Metal Bhd 336,000 386,020 
Public Bank Bhd 754,700 4,107,087 
QL Resources Bhd 161,700 266,730 
RHB Capital Bhd 301,774 435,016 
Sime Darby Bhd 523,685 293,856 
Sime Darby Plantation Bhd 615,285 767,897 
Sime Darby Property Bhd 885,685 237,782 
SP Setia Bhd 478,935 262,954 
Telekom Malaysia Bhd 342,426 241,011 
Tenaga Nasional Bhd 829,700 2,464,316 
Top Glove Corp. Bhd 403,100 474,809 
Westports Holdings Bhd 234,100 215,160 
YTL Corp. Bhd 917,622 250,795 
TOTAL MALAYSIA  29,528,644 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 1,735,300 370,000 
Mexico - 0.7%   
Alfa SA de CV Series A 747,500 755,475 
Alsea S.A.B. de CV 132,300 295,756 
America Movil S.A.B. de CV Series L 8,783,100 6,541,777 
Banco Santander Mexico SA 431,460 724,648 
CEMEX S.A.B. de CV unit (a) 3,864,594 1,787,791 
Coca-Cola FEMSA S.A.B. de CV unit 129,500 826,070 
El Puerto de Liverpool S.A.B. de CV Class C 55,070 356,487 
Embotelladoras Arca S.A.B. de CV 110,200 625,529 
Fibra Uno Administracion SA de CV 869,900 1,296,745 
Fomento Economico Mexicano S.A.B. de CV unit 509,600 4,971,071 
Gruma S.A.B. de CV Series B 50,135 501,119 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 90,500 920,193 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 52,285 861,178 
Grupo Bimbo S.A.B. de CV Series A 413,100 919,997 
Grupo Carso SA de CV Series A1 125,400 486,247 
Grupo Financiero Banorte S.A.B. de CV Series O 676,800 4,277,984 
Grupo Financiero Inbursa S.A.B. de CV Series O 576,800 882,950 
Grupo Mexico SA de CV Series B 885,224 2,595,751 
Grupo Televisa SA de CV 666,200 1,355,049 
Industrias Penoles SA de CV 31,955 366,734 
Infraestructura Energetica Nova S.A.B. de CV 142,800 624,222 
Kimberly-Clark de Mexico SA de CV Series A 452,500 782,183 
Megacable Holdings S.A.B. de CV unit 67,800 298,663 
Mexichem S.A.B. de CV 271,637 630,599 
Promotora y Operadora de Infraestructura S.A.B. de CV 58,710 597,204 
Wal-Mart de Mexico SA de CV Series V 1,383,000 4,064,139 
TOTAL MEXICO  38,345,561 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 652,500 638,793 
HKT Trust/HKT Ltd. unit 964,860 1,495,602 
TOTAL MULTI-NATIONAL  2,134,395 
Netherlands - 3.1%   
ABN AMRO Group NV GDR (d) 108,260 2,546,270 
Adyen BV (d) 2,619 2,131,429 
AEGON NV 497,229 2,595,609 
AerCap Holdings NV (a) 33,835 1,679,569 
Airbus Group NV 151,194 20,702,942 
Akzo Nobel NV 59,505 5,052,279 
ASML Holding NV (Netherlands) 105,785 22,014,035 
CNH Industrial NV 267,750 2,903,382 
EXOR NV 29,745 1,980,368 
Ferrari NV 32,021 4,336,707 
Fiat Chrysler Automobiles NV 285,003 4,390,202 
Heineken Holding NV 28,740 2,918,860 
Heineken NV (Bearer) 66,160 7,141,495 
ING Groep NV (Certificaten Van Aandelen) 1,009,532 12,881,657 
Koninklijke Ahold Delhaize NV 310,140 7,474,868 
Koninklijke DSM NV 47,501 5,432,766 
Koninklijke KPN NV 887,784 2,728,476 
Koninklijke Philips Electronics NV 241,849 10,385,898 
NN Group NV 82,309 3,583,776 
NXP Semiconductors NV 89,487 9,451,617 
QIAGEN NV (Germany) (a) 62,638 2,418,872 
Randstad NV 30,427 1,737,743 
STMicroelectronics NV (France) 172,759 3,172,671 
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit 36,316 6,242,183 
Unilever NV (Certificaten Van Aandelen) (Bearer) 394,973 23,897,677 
Vopak NV 17,245 768,844 
Wolters Kluwer NV 72,850 5,080,638 
X5 Retail Group NV GDR 30,389 922,627 
TOTAL NETHERLANDS  176,573,460 
New Zealand - 0.2%   
Auckland International Airport Ltd. 247,818 1,319,176 
Fisher & Paykel Healthcare Corp. 146,645 1,548,498 
Fletcher Building Ltd. 212,289 731,625 
Meridian Energy Ltd. 362,405 982,724 
Ryman Healthcare Group Ltd. 106,457 863,897 
Spark New Zealand Ltd. 459,761 1,126,963 
The a2 Milk Co. Ltd. (a) 186,736 2,091,571 
TOTAL NEW ZEALAND  8,664,454 
Norway - 0.4%   
Aker Bp ASA 26,819 884,387 
DNB ASA 249,249 4,785,666 
Equinor ASA 298,582 6,660,381 
Gjensidige Forsikring ASA 48,771 947,161 
Marine Harvest ASA 116,773 2,529,702 
Norsk Hydro ASA 345,602 1,488,537 
Orkla ASA 206,274 1,617,207 
Schibsted ASA (B Shares) 30,065 719,264 
Telenor ASA 193,668 3,887,974 
Yara International ASA 44,768 2,019,047 
TOTAL NORWAY  25,539,326 
Pakistan - 0.0%   
Habib Bank Ltd. 129,900 117,048 
MCB Bank Ltd. 74,000 99,489 
Oil & Gas Development Co. Ltd. 126,500 126,034 
TOTAL PAKISTAN  342,571 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 350,179 1,920,561 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 46,111 747,459 
Philippines - 0.3%   
Aboitiz Equity Ventures, Inc. 507,370 545,011 
Aboitiz Power Corp. 359,100 261,555 
Alliance Global Group, Inc. 1,155,000 333,825 
Ayala Corp. 63,910 1,116,202 
Ayala Land, Inc. 1,859,700 1,758,739 
Bank of the Philippine Islands (BPI) 256,386 420,293 
BDO Unibank, Inc. 541,214 1,401,134 
DMCI Holdings, Inc. 844,450 182,072 
Globe Telecom, Inc. 9,610 330,483 
GT Capital Holdings, Inc. 24,862 415,487 
International Container Terminal Services, Inc. 239,230 584,671 
JG Summit Holdings, Inc. 716,030 913,021 
Jollibee Food Corp. 108,420 638,036 
Manila Electric Co. 50,570 376,149 
Megaworld Corp. 3,320,400 359,240 
Metro Pacific Investments Corp. 3,109,200 274,518 
Metropolitan Bank & Trust Co. 429,410 615,991 
Philippine Long Distance Telephone Co. 20,190 479,550 
Robinsons Land Corp. 477,006 225,785 
Security Bank Corp. 43,910 152,701 
SM Investments Corp. 58,633 1,076,147 
SM Prime Holdings, Inc. 2,544,000 2,037,264 
Universal Robina Corp. 223,670 658,133 
TOTAL PHILIPPINES  15,156,007 
Poland - 0.3%   
Alior Bank SA (a) 24,609 377,689 
Bank Handlowy w Warszawie SA 6,306 102,640 
Bank Millennium SA (a) 161,238 406,950 
Bank Polska Kasa Opieki SA 43,990 1,308,839 
Bank Zachodni WBK SA 8,897 923,819 
BRE Bank SA 3,793 439,702 
CD Projekt RED SA 17,215 968,089 
Cyfrowy Polsat SA (a) 68,538 475,280 
Dino Polska SA (a)(d) 13,333 443,102 
Grupa Lotos SA 22,812 496,420 
Jastrzebska Spolka Weglowa SA (a) 12,198 185,295 
KGHM Polska Miedz SA (Bearer) (a) 34,876 938,648 
LPP SA 335 750,834 
NG2 SA 7,559 410,247 
Polish Oil & Gas Co. SA 450,135 683,192 
Polska Grupa Energetyczna SA (a) 219,954 547,950 
Polski Koncern Naftowy Orlen SA 74,212 1,901,592 
Powszechna Kasa Oszczednosci Bank SA 238,958 2,453,705 
Powszechny Zaklad Ubezpieczen SA 152,181 1,672,559 
Telekomunikacja Polska SA (a) 134,004 173,087 
TOTAL POLAND  15,659,639 
Portugal - 0.1%   
Banco Espirito Santo SA (Reg.) (a)(c) 82,039 1 
Energias de Portugal SA 699,387 2,650,597 
Galp Energia SGPS SA Class B 139,702 2,345,646 
Jeronimo Martins SGPS SA 61,522 1,001,925 
TOTAL PORTUGAL  5,998,169 
Qatar - 0.2%   
Barwa Real Estate Co. (a) 51,330 489,367 
Ezdan Holding Group (a) 200,958 591,158 
Industries Qatar QSC (a) 46,086 1,531,664 
Masraf al Rayan (a) 89,170 889,067 
Qatar Electricity & Water Co. (a) 13,049 598,517 
Qatar Insurance Co. SAQ (a) 34,095 358,954 
Qatar Islamic Bank (a) 29,538 1,352,464 
Qatar National Bank SAQ (a) 117,791 6,340,962 
Qatar Telecom (Qtel) Q.S.C. (a) 17,638 314,899 
The Commercial Bank of Qatar (a) 49,382 690,392 
TOTAL QATAR  13,157,444 
Russia - 0.9%   
Alrosa Co. Ltd. 635,641 926,383 
Gazprom OAO 2,079,012 5,283,245 
Gazprom OAO sponsored ADR (Reg. S) 300,704 1,501,716 
Inter Rao Ues JSC 8,441,000 511,764 
Lukoil PJSC 95,693 8,166,202 
Lukoil PJSC sponsored ADR 26,871 2,278,123 
Magnit OJSC GDR (Reg. S) 92,395 1,317,553 
Magnitogorsk Iron & Steel Works PJSC 583,500 398,890 
MMC Norilsk Nickel PJSC 12,517 2,776,511 
MMC Norilsk Nickel PJSC sponsored ADR 33,213 737,329 
Mobile TeleSystems OJSC sponsored ADR 127,242 1,002,667 
Moscow Exchange MICEX-RTS OAO 330,355 465,211 
NOVATEK OAO GDR (Reg. S) 22,842 4,401,653 
Novolipetsk Steel OJSC 304,950 806,990 
PhosAgro OJSC GDR (Reg. S) 25,441 320,302 
Polyus PJSC 6,911 538,450 
Rosneft Oil Co. OJSC 232,803 1,543,949 
Rosneft Oil Co. OJSC GDR (Reg. S) 57,870 384,951 
RusHydro PJSC rights (a) 445,322 0 
Sberbank of Russia 2,874,796 10,071,431 
Severstal PAO 37,923 613,044 
Severstal PAO GDR (Reg. S) 14,614 236,601 
Surgutneftegas OJSC 977,700 371,460 
Surgutneftegas OJSC sponsored ADR 72,932 272,912 
Tatneft PAO 310,311 3,635,543 
Tatneft PAO sponsored ADR 11,837 831,668 
VTB Bank OJSC (a) 769,220,334 422,346 
TOTAL RUSSIA  49,816,894 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 666,600 1,470,333 
BOC Aviation Ltd. Class A (d) 53,800 462,918 
CapitaCommercial Trust (REIT) 689,746 983,830 
CapitaLand Ltd. 715,300 1,856,488 
CapitaMall Trust 805,200 1,432,677 
City Developments Ltd. 107,200 704,631 
ComfortDelgro Corp. Ltd. 541,300 1,070,581 
DBS Group Holdings Ltd. 463,229 9,621,513 
Jardine Cycle & Carriage Ltd. 27,000 705,125 
Keppel Corp. Ltd. 395,400 1,968,133 
Oversea-Chinese Banking Corp. Ltd. 828,769 7,373,064 
Sembcorp Industries Ltd. 260,900 510,252 
Singapore Airlines Ltd. 136,800 973,623 
Singapore Airport Terminal Service Ltd. 173,700 667,930 
Singapore Exchange Ltd. 235,300 1,276,755 
Singapore Press Holdings Ltd. 400,000 738,181 
Singapore Technologies Engineering Ltd. 386,400 1,125,023 
Singapore Telecommunications Ltd. 2,106,400 4,909,410 
Suntec (REIT) 749,800 1,019,874 
United Overseas Bank Ltd. 348,453 7,129,951 
UOL Group Ltd. 128,777 717,690 
Venture Corp. Ltd. 68,400 853,428 
Wilmar International Ltd. 469,400 1,256,243 
Yangzijiang Shipbuilding Holdings Ltd. 622,200 718,222 
TOTAL SINGAPORE  49,545,875 
South Africa - 1.5%   
Anglo American Platinum Ltd. 13,748 693,858 
AngloGold Ashanti Ltd. 104,677 1,245,433 
Aspen Pharmacare Holdings Ltd. 95,411 686,319 
Barclays Africa Group Ltd. 183,073 2,102,172 
Bidcorp Ltd. 92,315 1,949,360 
Bidvest Group Ltd. 93,824 1,423,921 
Capitec Bank Holdings Ltd. 11,286 1,054,588 
Clicks Group Ltd. 62,885 860,124 
Discovery Ltd. 108,044 1,088,068 
Exxaro Resources Ltd. 67,199 767,257 
FirstRand Ltd. 880,565 4,180,298 
Fortress (REIT) Ltd.:   
Class A 214,018 288,300 
Class B 257,413 195,422 
Foschini Ltd. 57,370 740,977 
Gold Fields Ltd. 208,561 786,007 
Growthpoint Properties Ltd. 838,982 1,459,201 
Hyprop Investments Ltd. 67,988 332,692 
Investec Ltd. 66,409 424,080 
Kumba Iron Ore Ltd. 17,131 513,331 
Liberty Holdings Ltd. 29,955 216,731 
Life Healthcare Group Holdings Ltd. 350,539 638,346 
MMI Holdings Ltd. (a) 231,167 288,454 
Mondi Ltd. 30,137 664,236 
Mr Price Group Ltd. 64,103 970,754 
MTN Group Ltd. 442,261 3,195,842 
MultiChoice Group Ltd. (a) 114,679 1,029,746 
Naspers Ltd. Class N 113,501 29,198,193 
Nedbank Group Ltd. 101,953 1,896,233 
Netcare Ltd. 309,787 519,307 
Oceana Group Ltd. 10,446 51,116 
Old Mutual Ltd. 1,254,463 2,016,086 
Pick 'n Pay Stores Ltd. 98,191 476,163 
PSG Group Ltd. 36,967 685,020 
Rand Merchant Insurance Holdings Ltd. 188,182 455,557 
Redefine Properties Ltd. 1,316,818 906,722 
Remgro Ltd. 145,440 1,973,938 
Resilient Property Income Fund Ltd. 100,137 397,468 
RMB Holdings Ltd. 178,829 1,043,596 
Sanlam Ltd. 451,942 2,416,887 
Sappi Ltd. 133,404 635,826 
Sasol Ltd. 146,252 4,852,121 
Shoprite Holdings Ltd. 112,901 1,360,179 
Spar Group Ltd. 59,819 811,247 
Standard Bank Group Ltd. 339,855 4,727,798 
Telkom SA Ltd. 64,830 384,267 
Tiger Brands Ltd. 40,383 701,374 
Truworths International Ltd. 115,537 610,517 
Vodacom Group Ltd. 164,465 1,325,837 
Woolworths Holdings Ltd. 239,422 798,520 
TOTAL SOUTH AFRICA  86,039,489 
Spain - 1.9%   
ACS Actividades de Construccion y Servicios SA 67,765 3,116,255 
Aena Sme SA (d) 17,787 3,298,716 
Amadeus IT Holding SA Class A 113,996 9,067,683 
Banco Bilbao Vizcaya Argentaria SA 1,744,638 10,608,882 
Banco de Sabadell SA 1,441,901 1,675,457 
Banco Santander SA (Spain) 4,222,126 21,364,373 
Bankia SA 312,936 865,188 
Bankinter SA 189,684 1,514,351 
CaixaBank SA 952,270 3,035,356 
Enagas SA 57,063 1,625,647 
Endesa SA 80,064 1,994,453 
Ferrovial SA 123,140 3,032,980 
Gas Natural SDG SA 88,581 2,515,604 
Grifols SA 76,308 2,117,424 
Iberdrola SA 1,597,983 14,521,499 
Inditex SA 284,651 8,610,565 
MAPFRE SA (Reg.) 263,405 790,289 
Red Electrica Corporacion SA 110,423 2,291,704 
Repsol SA 363,381 6,166,101 
Siemens Gamesa Renewable Energy SA 59,405 1,065,392 
Telefonica SA 1,214,475 10,125,501 
TOTAL SPAIN  109,403,420 
Sweden - 1.6%   
Alfa Laval AB 77,456 1,797,883 
ASSA ABLOY AB (B Shares) 260,732 5,573,816 
Atlas Copco AB:   
(A Shares) 174,554 5,448,582 
(B Shares) 100,458 2,861,263 
Boliden AB 69,763 2,076,142 
Electrolux AB (B Shares) 61,328 1,503,047 
Epiroc AB:   
Class A 158,182 1,635,223 
Class B 105,929 1,048,249 
Essity AB Class B 157,085 4,657,714 
H&M Hennes & Mauritz AB (B Shares) 229,527 4,005,005 
Hexagon AB (B Shares) 68,073 3,718,980 
Husqvarna AB (B Shares) 103,390 943,991 
ICA Gruppen AB (b) 20,132 728,466 
Industrivarden AB (C Shares) 42,305 952,060 
Investor AB (B Shares) 114,694 5,469,953 
Kinnevik AB (B Shares) 61,617 1,795,603 
Lundbergfoeretagen AB 19,129 654,252 
Lundin Petroleum AB 50,883 1,657,067 
Sandvik AB 293,700 5,438,849 
Securitas AB (B Shares) 77,967 1,363,373 
Skandinaviska Enskilda Banken AB (A Shares) 424,992 4,057,655 
Skanska AB (B Shares) 85,460 1,488,216 
SKF AB (B Shares) 103,830 1,927,290 
Svenska Handelsbanken AB (A Shares) 395,845 4,323,854 
Swedbank AB (A Shares) 235,843 3,853,491 
Swedish Match Co. AB 45,941 2,240,065 
Tele2 AB (B Shares) 127,097 1,697,958 
Telefonaktiebolaget LM Ericsson (B Shares) 799,398 7,907,787 
TeliaSonera AB 708,623 3,019,108 
Volvo AB (B Shares) 405,454 6,497,982 
TOTAL SWEDEN  90,342,924 
Switzerland - 5.6%   
ABB Ltd. (Reg.) 477,294 9,817,327 
Adecco SA (Reg.) 44,517 2,556,686 
Alcon, Inc. (a) 115,302 6,640,092 
Baloise Holdings AG 12,230 2,095,646 
Barry Callebaut AG 566 1,036,514 
Clariant AG (Reg.) 49,980 1,027,117 
Coca-Cola HBC AG 51,888 1,854,614 
Compagnie Financiere Richemont SA Series A 136,137 9,951,934 
Credit Suisse Group AG 665,113 8,845,269 
Dufry AG 8,402 820,781 
Ems-Chemie Holding AG 2,251 1,363,037 
Galenica AG 12,146 1,587,759 
Geberit AG (Reg.) 9,703 4,068,985 
Givaudan SA 2,382 6,169,192 
Julius Baer Group Ltd. 59,926 2,894,720 
Kuehne & Nagel International AG 13,732 1,995,213 
Lafargeholcim Ltd. (Reg.) 126,406 6,498,009 
Lindt & Spruengli AG 26 1,972,423 
Lindt & Spruengli AG (participation certificate) 287 1,908,263 
Lonza Group AG 19,536 6,033,289 
Nestle SA (Reg. S) 789,679 76,028,424 
Novartis AG 561,800 46,033,948 
Pargesa Holding SA 9,154 720,497 
Partners Group Holding AG 4,564 3,438,173 
Roche Holding AG (participation certificate) 181,911 47,999,649 
Schindler Holding AG:   
(participation certificate) 9,995 2,156,044 
(Reg.) 5,373 1,141,093 
SGS SA (Reg.) 1,437 3,791,598 
Sika AG 33,213 5,084,870 
Sonova Holding AG Class B 14,102 2,844,066 
Straumann Holding AG 2,599 2,098,177 
Swatch Group AG (Bearer) 7,890 2,409,704 
Swatch Group AG (Bearer) (Reg.) 17,183 1,008,434 
Swiss Life Holding AG 8,584 4,036,110 
Swiss Prime Site AG 21,781 1,748,551 
Swiss Re Ltd. 78,992 7,601,900 
Swisscom AG 6,926 3,226,628 
Temenos Group AG 16,109 2,678,114 
UBS Group AG 998,956 13,396,863 
Zurich Insurance Group Ltd. 39,287 12,526,960 
TOTAL SWITZERLAND  319,106,673 
Taiwan - 2.8%   
Acer, Inc. 795,288 539,165 
Advantech Co. Ltd. 90,591 732,889 
ASE Technology Holding Co. Ltd. 863,840 2,006,573 
Asia Cement Corp. 566,466 765,321 
ASUSTeK Computer, Inc. 180,000 1,374,668 
AU Optronics Corp. 2,181,000 779,985 
Catcher Technology Co. Ltd. 169,000 1,337,146 
Cathay Financial Holding Co. Ltd. 2,177,285 3,149,461 
Chang Hwa Commercial Bank 1,340,980 802,800 
Cheng Shin Rubber Industry Co. Ltd. 450,899 601,889 
Chicony Electronics Co. Ltd. 155,493 382,921 
China Airlines Ltd. 590,490 187,263 
China Development Finance Holding Corp. 3,297,800 1,061,844 
China Life Insurance Co. Ltd. 682,995 568,021 
China Steel Corp. 3,320,426 2,680,882 
Chinatrust Financial Holding Co. Ltd. 4,692,579 3,211,703 
Chunghwa Telecom Co. Ltd. 958,000 3,450,815 
Compal Electronics, Inc. 1,041,000 672,058 
Delta Electronics, Inc. 551,621 2,900,732 
E.SUN Financial Holdings Co. Ltd. 2,464,804 2,021,966 
ECLAT Textile Co. Ltd. 45,941 654,134 
EVA Airways Corp. 503,403 246,798 
Evergreen Marine Corp. (Taiwan) 481,048 210,931 
Far Eastern Textile Ltd. 812,664 886,246 
Far EasTone Telecommunications Co. Ltd. 394,000 966,449 
Feng Tay Enterprise Co. Ltd. 89,436 724,992 
First Financial Holding Co. Ltd. 2,474,197 1,765,453 
Formosa Chemicals & Fibre Corp. 888,590 3,191,816 
Formosa Petrochemical Corp. 305,000 1,130,105 
Formosa Plastics Corp. 1,162,480 4,213,247 
Formosa Taffeta Co. Ltd. 186,000 224,209 
Foxconn Technology Co. Ltd. 230,535 516,246 
Fubon Financial Holding Co. Ltd. 1,771,398 2,613,933 
Giant Manufacturing Co. Ltd. 86,000 655,394 
GlobalWafers Co. Ltd. 57,000 621,610 
Highwealth Construction Corp. 176,480 282,407 
HIWIN Technologies Corp. 61,362 582,802 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 3,415,990 9,606,159 
Hotai Motor Co. Ltd. 68,000 1,027,636 
Hua Nan Financial Holdings Co. Ltd. 1,813,909 1,185,715 
Innolux Corp. 2,266,427 726,090 
Inventec Corp. 616,280 494,588 
Largan Precision Co. Ltd. 26,000 3,912,368 
Lite-On Technology Corp. 566,910 798,943 
MediaTek, Inc. 399,970 3,824,708 
Mega Financial Holding Co. Ltd. 2,733,246 2,622,508 
Micro-Star International Co. Ltd. 184,000 509,689 
Nan Ya Plastics Corp. 1,300,780 3,287,519 
Nanya Technology Corp. 286,000 605,281 
Nien Made Enterprise Co. Ltd. 47,000 368,067 
Novatek Microelectronics Corp. 147,000 958,530 
Pegatron Corp. 511,000 964,057 
Phison Electronics Corp. 38,000 357,226 
Pou Chen Corp. 531,000 645,235 
Powertech Technology, Inc. 190,000 473,432 
President Chain Store Corp. 146,000 1,360,689 
Quanta Computer, Inc. 763,000 1,461,705 
Realtek Semiconductor Corp. 115,090 778,390 
Ruentex Development Co. Ltd. 294,694 404,344 
Ruentex Industries Ltd. 135,809 324,338 
Shin Kong Financial Holding Co. Ltd. 2,621,659 741,483 
Sinopac Holdings Co. 2,634,314 1,014,444 
Standard Foods Corp. 80,986 143,354 
Synnex Technology International Corp. 382,500 476,547 
TaiMed Biologics, Inc. (a) 53,000 269,271 
Taishin Financial Holdings Co. Ltd. 2,401,362 1,087,925 
Taiwan Business Bank 897,089 370,134 
Taiwan Cement Corp. 1,180,000 1,603,780 
Taiwan Cooperative Financial Holding Co. Ltd. 2,125,223 1,409,846 
Taiwan High Speed Rail Corp. 482,000 586,473 
Taiwan Mobile Co. Ltd. 418,600 1,530,704 
Taiwan Semiconductor Manufacturing Co. Ltd. 6,159,000 51,709,489 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 39,503 1,731,021 
Tatung Co. Ltd. (a) 533,000 410,504 
The Shanghai Commercial & Savings Bank Ltd. 802,000 1,292,460 
Unified-President Enterprises Corp. 1,226,080 2,912,247 
United Microelectronics Corp. 2,915,000 1,271,039 
Vanguard International Semiconductor Corp. 240,000 532,004 
Walsin Technology Corp. 85,000 519,869 
Win Semiconductors Corp. 82,000 549,285 
Winbond Electronics Corp. 801,000 416,026 
Wistron Corp. 686,666 568,852 
WPG Holding Co. Ltd. 373,320 492,291 
Yageo Corp. 64,519 635,753 
Yuanta Financial Holding Co. Ltd. 2,735,372 1,584,466 
TOTAL TAIWAN  159,271,358 
Thailand - 0.6%   
Advanced Info Service PCL (For. Reg.) 264,100 1,572,147 
Airports of Thailand PCL (For. Reg.) 1,130,200 2,425,588 
Bangkok Bank PCL (For. Reg.) 55,400 362,767 
Bangkok Dusit Medical Services PCL (For. Reg.) 987,100 788,629 
Bangkok Expressway and Metro PCL 2,487,300 849,426 
Banpu PCL (For. Reg.) 464,700 238,774 
Berli Jucker PCL (For. Reg) 320,600 517,299 
BTS Group Holdings PCL 1,433,300 529,896 
Bumrungrad Hospital PCL (For. Reg.) 93,500 518,509 
C.P. ALL PCL (For. Reg.) 1,260,200 3,059,936 
Central Pattana PCL (For. Reg.) 341,800 808,519 
Charoen Pokphand Foods PCL (For. Reg.) 878,700 750,202 
Delta Electronics PCL (For. Reg.) 78,900 184,782 
Electricity Generating PCL (For. Reg.) 37,000 343,135 
Energy Absolute PCL 355,000 620,075 
Glow Energy PCL (For. Reg.) 113,900 326,525 
Gulf Energy Development PCL 125,600 411,223 
Home Product Center PCL (For. Reg.) 974,667 479,432 
Indorama Ventures PCL (For. Reg.) 455,000 652,189 
IRPC PCL (For. Reg.) 2,666,900 472,092 
Kasikornbank PCL 100,800 603,205 
Kasikornbank PCL (For. Reg.) 372,900 2,225,658 
Krung Thai Bank PCL (For. Reg.) 841,255 498,151 
Land & House PCL (For. Reg.) 590,900 207,350 
Minor International PCL (For. Reg.) 721,370 847,541 
Muangthai Leasing PCL 148,700 239,933 
PTT Exploration and Production PCL (For. Reg.) 352,744 1,475,408 
PTT Global Chemical PCL (For. Reg.) 566,139 1,219,458 
PTT PCL (For. Reg.) 2,745,000 4,192,645 
Robinsons Department Store PCL (For. Reg.) 112,300 204,949 
Siam Cement PCL (For. Reg.) 94,500 1,367,870 
Siam Commercial Bank PCL (For. Reg.) 466,900 1,916,312 
Thai Oil PCL (For. Reg.) 291,800 633,106 
Thai Union Frozen Products PCL (For. Reg.) 545,400 322,960 
TMB PCL (For. Reg.) 2,093,400 132,487 
True Corp. PCL (For. Reg.) 2,679,812 432,397 
TOTAL THAILAND  32,430,575 
Turkey - 0.1%   
Akbank TAS 710,300 728,525 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 66,301 220,229 
Arcelik A/S (a) 46,392 142,592 
Aselsan A/S 83,265 285,230 
Bim Birlesik Magazalar A/S JSC 53,126 739,432 
Eregli Demir ve Celik Fabrikalari T.A.S. 374,461 574,848 
Ford Otomotiv Sanayi A/S 14,785 130,582 
Haci Omer Sabanci Holding A/S 301,012 388,442 
Koc Holding A/S 181,675 493,244 
Petkim Petrokimya Holding A/S 194,011 145,340 
TAV Havalimanlari Holding A/S 41,171 174,567 
Tupras Turkiye Petrol Rafinerileri A/S 31,444 649,759 
Turk Hava Yollari AO (a) 156,925 376,342 
Turk Sise ve Cam Fabrikalari A/S 142,895 146,082 
Turkcell Iletisim Hizmet A/S 279,085 584,652 
Turkiye Garanti Bankasi A/S 589,768 807,522 
Turkiye Halk Bankasi A/S 190,053 186,330 
Turkiye Is Bankasi A/S Series C 429,478 385,795 
TOTAL TURKEY  7,159,513 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 504,478 1,356,940 
Aldar Properties PJSC 1,008,831 488,877 
Damac Properties Dubai Co. PJSC 504,673 170,370 
DP World Ltd. 42,332 846,640 
Dubai Islamic Bank Pakistan Ltd. (a) 436,217 613,980 
Emaar Development PJSC (a) 230,209 245,680 
Emaar Malls Group PJSC (a) 525,487 248,927 
Emaar Properties PJSC 863,769 1,128,756 
Emirates Telecommunications Corp. 432,673 1,967,151 
National Bank of Abu Dhabi PJSC (a) 688,888 3,000,751 
TOTAL UNITED ARAB EMIRATES  10,068,072 
United Kingdom - 10.2%   
3i Group PLC 244,056 3,406,856 
Admiral Group PLC 51,509 1,480,377 
Anglo American PLC (United Kingdom) 263,115 6,798,222 
Antofagasta PLC 97,949 1,159,748 
Ashtead Group PLC 121,541 3,363,146 
Associated British Foods PLC 89,579 2,989,194 
AstraZeneca PLC (United Kingdom) 330,937 24,654,743 
Auto Trader Group PLC (d) 230,543 1,704,257 
Aviva PLC 975,556 5,478,848 
Babcock International Group PLC 66,618 456,067 
BAE Systems PLC 799,540 5,138,869 
Barclays PLC 4,302,068 9,232,265 
Barratt Developments PLC 256,199 2,010,514 
Berkeley Group Holdings PLC 31,481 1,541,884 
BHP Billiton PLC 529,139 12,490,101 
BP PLC 5,003,398 36,383,228 
BP PLC sponsored ADR 41,420 1,811,297 
British American Tobacco PLC (United Kingdom) 599,725 23,478,602 
British Land Co. PLC 226,034 1,750,805 
BT Group PLC 2,127,073 6,347,217 
Bunzl PLC 84,905 2,556,435 
Burberry Group PLC 105,123 2,764,911 
Carnival PLC 41,866 2,219,510 
Centrica PLC 1,443,125 2,006,186 
Coca-Cola European Partners PLC 57,653 3,089,624 
Compass Group PLC 397,442 9,043,340 
ConvaTec Group PLC (d) 351,707 635,426 
Croda International PLC 32,893 2,222,259 
Diageo PLC 647,225 27,285,526 
Direct Line Insurance Group PLC 346,646 1,488,975 
easyJet PLC 39,924 605,729 
Fresnillo PLC 55,518 542,097 
G4S PLC (United Kingdom) 390,922 1,102,106 
GlaxoSmithKline PLC 1,309,401 26,899,317 
Hammerson PLC 198,304 832,396 
Hargreaves Lansdown PLC 72,812 2,142,950 
HSBC Holdings PLC (United Kingdom) 5,265,939 45,881,933 
Imperial Tobacco Group PLC 239,973 7,622,848 
Informa PLC 314,974 3,199,556 
InterContinental Hotel Group PLC 43,117 2,793,237 
Intertek Group PLC 41,017 2,861,510 
Investec PLC 170,117 1,075,888 
ITV PLC 927,667 1,653,025 
J Sainsbury PLC 432,533 1,254,951 
John Wood Group PLC 172,162 1,056,269 
Johnson Matthey PLC 48,075 2,091,959 
Kingfisher PLC 541,434 1,866,966 
Land Securities Group PLC 183,902 2,213,430 
Legal & General Group PLC 1,488,470 5,399,764 
Lloyds Banking Group PLC 17,849,946 14,598,318 
London Stock Exchange Group PLC 78,300 5,133,607 
Marks & Spencer Group PLC 399,126 1,488,844 
Meggitt PLC 202,689 1,438,884 
Melrose Industries PLC 1,228,190 3,238,354 
Merlin Entertainments PLC (d) 181,319 865,843 
Micro Focus International PLC 88,613 2,239,154 
Mondi PLC 90,442 1,981,921 
National Grid PLC 851,618 9,284,973 
Next PLC 34,545 2,597,392 
NMC Health PLC 27,028 994,600 
Pearson PLC 200,691 2,174,064 
Persimmon PLC 79,884 2,329,213 
Prudential PLC 650,082 14,770,761 
Reckitt Benckiser Group PLC 168,813 13,658,058 
RELX PLC (London Stock Exchange) 494,718 11,347,525 
Rio Tinto PLC 307,979 17,967,208 
Rolls-Royce Holdings PLC 424,996 5,089,554 
Royal Bank of Scotland Group PLC 1,205,159 3,773,757 
Royal Dutch Shell PLC:   
Class A 14,363 457,044 
Class A (United Kingdom) 1,197,083 38,140,765 
Class A sponsored ADR 2,832 179,917 
Class B (United Kingdom) 940,649 30,357,904 
Royal Mail PLC 235,189 775,303 
RSA Insurance Group PLC 254,531 1,798,944 
Sage Group PLC 274,830 2,599,676 
Schroders PLC 32,007 1,321,815 
Scottish & Southern Energy PLC 263,085 3,936,443 
Segro PLC 267,574 2,367,050 
Severn Trent PLC 59,958 1,591,851 
Smith & Nephew PLC 219,066 4,235,091 
Smiths Group PLC 100,231 1,989,926 
St. James's Place Capital PLC 132,104 1,931,936 
Standard Chartered PLC (United Kingdom) 701,371 6,402,114 
Standard Life PLC 636,879 2,316,237 
Taylor Wimpey PLC 833,910 1,972,577 
Tesco PLC 2,467,902 8,051,875 
The Weir Group PLC 61,388 1,328,429 
Unilever PLC 299,778 18,171,070 
United Utilities Group PLC 173,879 1,879,206 
Vodafone Group PLC 6,681,998 12,394,265 
Vodafone Group PLC sponsored ADR 40,257 745,560 
Whitbread PLC (b) 46,409 2,699,073 
WM Morrison Supermarkets PLC 550,629 1,550,206 
TOTAL UNITED KINGDOM  580,250,670 
United States of America - 0.1%   
Southern Copper Corp. 21,576 828,950 
Yum China Holdings, Inc. 94,344 4,485,114 
TOTAL UNITED STATES OF AMERICA  5,314,064 
TOTAL COMMON STOCKS   
(Cost $5,030,775,508)  5,305,385,961 
Nonconvertible Preferred Stocks - 1.3%   
Brazil - 0.6%   
Banco Bradesco SA (PN) 1,054,508 9,568,589 
Braskem SA (PN-A) 40,200 489,851 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) (a) 6,900 60,974 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 39,000 959,807 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 222,807 837,565 
Gerdau SA 256,900 927,070 
Itau Unibanco Holding SA 1,261,821 10,886,589 
Itausa-Investimentos Itau SA (PN) 1,174,398 3,567,132 
Lojas Americanas SA (PN) 180,136 722,179 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) 999,900 6,913,185 
Telefonica Brasil SA 109,000 1,294,568 
TOTAL BRAZIL  36,227,509 
Chile - 0.0%   
Embotelladora Andina SA Class B 107,780 384,781 
Sociedad Quimica y Minera de Chile SA (PN-B) 31,066 1,107,652 
TOTAL CHILE  1,492,433 
Colombia - 0.1%   
Bancolombia SA (PN) 125,151 1,583,136 
Grupo Aval Acciones y Valores SA 909,732 350,303 
Grupo de Inversiones Suramerica SA 25,955 279,840 
TOTAL COLOMBIA  2,213,279 
France - 0.0%   
Air Liquide SA (a) 8,120 1,080,218 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 13,783 1,017,203 
Fuchs Petrolub AG 17,444 758,738 
Henkel AG & Co. KGaA 47,067 4,763,801 
Porsche Automobil Holding SE (Germany) 38,723 2,691,932 
Sartorius AG (non-vtg.) 8,853 1,620,498 
Volkswagen AG 48,178 8,377,810 
TOTAL GERMANY  19,229,982 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 1,672,838 873,511 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 1,715 172,383 
CJ Corp. (a)(c) 468 14,742 
Hyundai Motor Co. 4,726 328,868 
Hyundai Motor Co. Series 2 11,872 892,432 
LG Chemical Ltd. 2,863 493,150 
LG Household & Health Care Ltd. 486 337,775 
Samsung Electronics Co. Ltd. 215,983 6,902,490 
TOTAL KOREA (SOUTH)  9,141,840 
Russia - 0.0%   
AK Transneft OAO 116 301,409 
Surgutneftegas OJSC 1,745,533 1,057,342 
TOTAL RUSSIA  1,358,751 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC (C Shares) (a) 30,174,716 39,348 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $67,125,198)  71,656,871 
 Principal Amount Value 
Nonconvertible Bonds - 0.0%   
India - 0.0%   
NTPC Ltd. 8.49% 3/25/25
(Cost $13,959) 		INR69,696 12,533 
 Shares Value 
Money Market Funds - 2.4%   
Fidelity Cash Central Fund, 2.49% (e) 111,879,351 111,901,727 
Fidelity Securities Lending Cash Central Fund 2.49% (e)(f) 23,451,055 23,453,401 
TOTAL MONEY MARKET FUNDS   
(Cost $135,354,493)  135,355,128 
TOTAL INVESTMENT IN SECURITIES - 96.7%   
(Cost $5,233,269,158)  5,512,410,493 
NET OTHER ASSETS (LIABILITIES) - 3.3%  189,381,733 
NET ASSETS - 100%  $5,701,792,226 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 2,241 June 2019 $214,799,850 $3,631,019 $3,631,019 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 1,543 June 2019 83,337,430 1,311,029 1,311,029 
TME S&P/TSX 60 Index Contracts (Canada) 148 June 2019 21,948,675 408,358 408,359 
TOTAL FUTURES CONTRACTS     $5,350,407 

The notional amount of futures purchased as a percentage of Net Assets is 5.7%

Currency Abbreviations

INR – Indian rupee

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 $48,923,124 or 0.9% of net assets.

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

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

Affiliated Central Funds

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 $2,188,887 
Fidelity Securities Lending Cash Central Fund 260,739 
Total $2,449,626 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $375,042,249 $134,279,063 $240,763,186 $-- 
Consumer Discretionary 621,230,131 439,252,230 181,960,875 17,026 
Consumer Staples 523,609,026 274,274,712 249,321,973 12,341 
Energy 392,830,404 201,922,641 190,907,763 -- 
Financials 1,187,696,719 754,654,188 432,350,509 692,022 
Health Care 430,868,386 189,037,698 241,830,688 -- 
Industrials 634,220,903 454,822,466 179,382,808 15,629 
Information Technology 464,290,115 318,012,879 146,277,235 1 
Materials 400,705,913 266,124,029 134,581,884 -- 
Real Estate 178,529,584 178,529,584 -- -- 
Utilities 168,019,402 118,419,272 49,600,130 -- 
Corporate Bonds 12,533 -- 12,533 -- 
Money Market Funds 135,355,128 135,355,128 -- -- 
Total Investments in Securities: $5,512,410,493 $3,464,683,890 $2,046,989,584 $737,019 
Derivative Instruments:     
Assets     
Futures Contracts $5,350,407 $5,350,407 $-- $-- 
Total Assets $5,350,407 $5,350,407 $-- $-- 
Total Derivative Instruments: $5,350,407 $5,350,407 $-- $-- 

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, 2019. 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) $5,350,407 $0 
Total Equity Risk 5,350,407 0 
Total Value of Derivatives $5,350,407 $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 distributable earnings.

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, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $22,344,242) — See accompanying schedule:
Unaffiliated issuers (cost $5,097,914,665) 		$5,377,055,365  
Fidelity Central Funds (cost $135,354,493) 135,355,128  
Total Investment in Securities (cost $5,233,269,158)  $5,512,410,493 
Segregated cash with brokers for derivative instruments  7,698,506 
Foreign currency held at value (cost $24,989,157)  25,097,215 
Receivable for fund shares sold  168,598,384 
Dividends receivable  24,206,408 
Interest receivable  9 
Distributions receivable from Fidelity Central Funds  455,920 
Other receivables  61 
Total assets  5,738,466,996 
Liabilities   
Payable to custodian bank $36,604  
Payable for investments purchased 1,405,926  
Payable for fund shares redeemed 10,492,456  
Accrued management fee 250,775  
Payable for daily variation margin on futures contracts 57,077  
Other payables and accrued expenses 979,824  
Collateral on securities loaned 23,452,108  
Total liabilities  36,674,770 
Net Assets  $5,701,792,226 
Net Assets consist of:   
Paid in capital  $5,413,771,894 
Total distributable earnings (loss)  288,020,332 
Net Assets  $5,701,792,226 
Net Asset Value and Maximum Offering Price   
Net Asset Value, offering price and redemption price per share ($5,701,792,226 ÷ 442,944,362 shares)  $12.87 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $74,804,472 
Interest  122,537 
Income from Fidelity Central Funds  2,449,626 
Income before foreign taxes withheld  77,376,635 
Less foreign taxes withheld  (7,005,522) 
Total income  70,371,113 
Expenses   
Management fee $1,386,998  
Independent trustees' fees and expenses 9,921  
Commitment fees 6,521  
Total expenses before reductions 1,403,440  
Expense reductions (13,352)  
Total expenses after reductions  1,390,088 
Net investment income (loss)  68,981,025 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $1,116) (8,647,175)  
Fidelity Central Funds (1,177)  
Foreign currency transactions (64,309)  
Futures contracts 10,753,260  
Total net realized gain (loss)  2,040,599 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $633,474) 372,266,990  
Fidelity Central Funds 635  
Assets and liabilities in foreign currencies 60,259  
Futures contracts 11,719,113  
Total change in net unrealized appreciation (depreciation)  384,046,997 
Net gain (loss)  386,087,596 
Net increase (decrease) in net assets resulting from operations  $455,068,621 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $68,981,025 $118,287,721 
Net realized gain (loss) 2,040,599 40,283,064 
Change in net unrealized appreciation (depreciation) 384,046,997 (583,087,059) 
Net increase (decrease) in net assets resulting from operations 455,068,621 (424,516,274) 
Distributions to shareholders (108,403,471) (72,436,849) 
Share transactions - net increase (decrease) 1,261,425,255 1,402,582,678 
Total increase (decrease) in net assets 1,608,090,405 905,629,555 
Net Assets   
Beginning of period 4,093,701,821 3,188,072,266 
End of period $5,701,792,226 $4,093,701,821 

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


Financial Highlights

Fidelity Global ex U.S. Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,     
 2019 2018 2017 2016 2015 2014 
Selected Per–Share Data       
Net asset value, beginning of period $12.07 $13.50 $11.13 $11.33 $12.30 $12.45 
Income from Investment Operations       
Net investment income (loss)A .18 .38 .33 .32 .33 .39B 
Net realized and unrealized gain (loss) .92 (1.50) 2.27 (.26)C (1.00) (.31) 
Total from investment operations 1.10 (1.12) 2.60 .06 (.67) .08 
Distributions from net investment income (.30) (.28) (.22) (.26) (.29) (.20) 
Distributions from net realized gain – (.03) (.01) – (.01) (.03) 
Total distributions (.30) (.31) (.23) (.26) (.30) (.23) 
Redemption fees added to paid in capitalA – – –D –D –D –D 
Net asset value, end of period $12.87 $12.07 $13.50 $11.13 $11.33 $12.30 
Total ReturnE,F 9.41% (8.47)% 23.83% .68% (5.45)% .67% 
Ratios to Average Net AssetsG,H       
Expenses before reductions .06%I .06% .06% .14% .20% .20% 
Expenses net of fee waivers, if any .06%I .06% .06% .08% .10% .10% 
Expenses net of all reductions .06%I .06% .06% .08% .10% .10% 
Net investment income (loss) 2.89%I 2.91% 2.75% 2.99% 2.78% 3.12%B 
Supplemental Data       
Net assets, end of period (000 omitted) $5,701,792 $2,879,110 $952,883 $644,884 $87,972 $74,259 
Portfolio turnover rateJ 1%I,K 19%K 9% 1%K 1% 1% 

 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 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.

 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, 2019

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. Investments in emerging markets, if applicable, can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

Effective after the close of business November 9, 2018, each Fund's publicly offered shares classes were consolidated into a single share class. The surviving class is Fidelity Emerging Markets Index Fund and Fidelity Global ex U.S. Index Fund (formerly Institutional Premium Class). All current fiscal period dollar and share amounts for the classes that closed, which are presented in the Notes to Financial Statements, are for the period November 1, 2018 through November 9, 2018.

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. 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, 2019 is included at the end of each Fund's Schedule of Investments.

Foreign Currency. The Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

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

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

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.

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 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, redemptions in kind, partnerships, capital loss carryforwards and losses deferred due to wash sales.

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

 Tax cost Gross unrealized appreciation Gross unrealized depreciation Net unrealized appreciation (depreciation) 
Fidelity Emerging Markets Index Fund $2,315,087,125 $428,395,830 $(167,687,209) $260,708,621 
Fidelity Global ex U.S. Index Fund 5,248,275,864 703,945,000 (434,459,964) 269,485,036 

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 $(25,405,497) $(55,181,165) $(80,586,662) $(80,586,662) 
Fidelity Global ex U.S. Index Fund (9,718,545) (24,838,512) (34,557,057) (34,557,057) 

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.

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. 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 770,941,677 19,036,767 
Fidelity Global ex U.S. Index Fund 1,071,921,079 33,464,057 

Unaffiliated Exchanges In-Kind. During the period, the Fidelity Global ex U.S. Index Fund received investments and cash valued at $136,253,459 in exchange for 11,159,169 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.

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 .08% and .06% of each class' average net assets for Fidelity Emerging Markets Index Fund and Fidelity Global ex U.S. Index Fund, respectively, on an annual basis with certain exceptions.

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

Interfund Trades. 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.

Prior Fiscal Year Redemptions In-Kind. During the prior period, 13,347,660 shares of 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. Fidelity Global ex U.S. Index Fund had a net realized gain of $62,615,780 on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets 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.

Prior Fiscal Year Exchanges In-Kind. During the prior period, the Fidelity Global ex U.S. Index Fund redeemed 14,197,390 shares of Fidelity International Index Fund in exchange for investments with a value of $621,987,635. Fidelity Global ex U.S. Index Fund had net realized gains of $1,987,635 on the Fund's redemptions of Fidelity International Index Fund shares. Fidelity Global ex U.S. Index Fund recognized net gains on the exchanges 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 Commitment fees on the Statement of Operations, and are as follows:

Fidelity Emerging Markets Index Fund $2,781 
Fidelity Global ex U.S. Index Fund 6,521 

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. 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 Funds. 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. During the period, there were no securities loaned to FCM. Security lending activity was as follows:

 Total Security Lending Income 
Fidelity Emerging Markets Index Fund $101,799 
Fidelity Global ex U.S. Index Fund $260,739 

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 $14,248 
Fidelity Global ex U.S. Index Fund 13,352 

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2019 		Year ended
October 31, 2018 
Fidelity Emerging Markets Index Fund   
Distributions to shareholders   
Investor Class $– $584,644 
Premium Class – 17,448,862 
Institutional Class – 4,938,500 
Fidelity Emerging Markets Index Fund 37,459,724 3,764,647 
Total $37,459,724 $26,736,653 
Fidelity Global ex U.S. Index Fund   
Distributions to shareholders   
Investor Class $– $1,033,799 
Premium Class – 36,798,374 
Institutional Class – 13,853,612 
Fidelity Global ex U.S. Index Fund 108,403,471 20,751,064 
Total $108,403,471 $72,436,849 

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, 2019 Year ended October 31, 2018 Six months ended April 30, 2019 Year ended October 31, 2018 
Fidelity Emerging Markets Index Fund     
Investor Class     
Shares sold 47,688 3,949,532 $474,950 $44,525,954 
Reinvestment of distributions – 50,953 – 556,918 
Shares redeemed (3,819,336) (3,140,244) (37,362,011) (35,639,073) 
Net increase (decrease) (3,771,648) 860,241 $(36,887,061) $9,443,799 
Premium Class     
Shares sold 689,194 47,176,175 $6,903,964 $526,814,352 
Reinvestment of distributions – 1,420,087 – 15,521,554 
Shares redeemed (77,401,257) (53,356,103) (757,631,697) (567,082,522) 
Net increase (decrease) (76,712,063) (4,759,841) $(750,727,733) $(24,746,616) 
Institutional Class     
Shares sold 582,859 30,780,889 $5,809,747 $339,663,997 
Reinvestment of distributions – 419,348 – 4,587,665 
Shares redeemed (25,820,348) (28,524,001) (253,143,825) (301,071,387) 
Net increase (decrease) (25,237,489) 2,676,236 $(247,334,078) $43,180,275 
Fidelity Emerging Markets Index Fund     
Shares sold 201,120,023 47,004,672 $1,999,931,373 $469,943,013 
Reinvestment of distributions 3,427,984 344,433 32,805,804 3,764,647 
Shares redeemed (26,361,385) (2,821,883) (265,353,321) (31,059,042) 
Net increase (decrease) 178,186,622 44,527,222 $1,767,383,856 $442,648,618 
Fidelity Global ex U.S. Index Fund     
Investor Class     
Shares sold 83,392 2,986,798 $1,024,236 $39,620,437 
Reinvestment of distributions – 77,311 – 1,020,503 
Shares redeemed (3,869,135) (2,649,187) (47,325,730) (35,779,157) 
Net increase (decrease) (3,785,743) 414,922 $(46,301,494) $4,861,783 
Premium Class     
Shares sold 433,950 67,776,633 $5,335,819 $905,063,963 
Reinvestment of distributions – 2,335,974 – 30,834,860 
Shares redeemed (72,629,331) (113,973,150)(a) (888,620,605) (1,471,681,761)(a) 
Net increase (decrease) (72,195,381) (43,860,543) $(883,284,786) $(535,782,938) 
Institutional Class     
Shares sold 238,558 48,173,115 $2,941,634 $638,131,655 
Reinvestment of distributions – 1,037,349 – 13,693,009 
Shares redeemed (24,965,818) (70,782,481) (305,562,280) (900,018,289) 
Net increase (decrease) (24,727,260) (21,572,017) $(302,620,646) $(248,193,625) 
Fidelity Global ex U.S. Index Fund     
Shares sold 238,724,875(b) 206,012,670 $2,912,423,955(b) $2,685,932,281 
Reinvestment of distributions 9,016,767 1,572,050 104,233,831 20,751,064 
Shares redeemed (43,349,470) (39,624,216) (523,025,605) (524,985,887) 
Net increase (decrease) 204,392,172 167,960,504 $2,493,632,181 $2,181,697,458 

 (a) Amount includes in-kind redemptions (see the Prior Fiscal Year Redemptions In-Kind note for additional details).

 (b) Amount includes in-kind exchanges (see the Unaffiliated Exchanges 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 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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Fidelity Emerging Markets Index Fund .08%    
Actual  $1,000.00 $1,137.70 $.42 
Hypothetical-C  $1,000.00 $1,024.40 $.40 
Fidelity Global ex U.S. Index Fund .06%    
Actual  $1,000.00 $1,094.10 $.31 
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 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

EMX-I-GUX-I-SANN-0619
1.929371.107

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, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Japan 23.5% 
   United Kingdom 15.9% 
   France 10.3% 
   Germany 8.7% 
   Switzerland 8.7% 
   Australia 6.7% 
   Netherlands 4.8% 
   Spain 3.0% 
   Hong Kong 2.9% 
   Other* 15.5% 


 * 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.

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 2.1 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 1.3 
Novartis AG (Switzerland, Pharmaceuticals) 1.3 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 1.2 
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels) 1.0 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 1.0 
Toyota Motor Corp. (Japan, Automobiles) 1.0 
Total SA (France, Oil, Gas & Consumable Fuels) 1.0 
SAP SE (Germany, Software) 0.9 
AIA Group Ltd. (Hong Kong, Insurance) 0.9 
 11.7 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 18.8 
Industrials 14.4 
Consumer Staples 11.5 
Consumer Discretionary 11.2 
Health Care 10.6 
Materials 7.2 
Information Technology 6.5 
Energy 5.9 
Communication Services 4.9 
Real Estate 3.9 

Asset Allocation as of April 30, 2019

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

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.3%   
 Shares Value 
Australia - 6.7%   
AGL Energy Ltd. 334,451 $5,241,195 
Alumina Ltd. 1,240,244 1,958,454 
Amcor Ltd. 594,874 6,722,284 
AMP Ltd. 1,492,717 2,388,700 
APA Group unit 612,713 4,155,186 
Aristocrat Leisure Ltd. 299,736 5,510,675 
ASX Ltd. 98,429 5,169,371 
Aurizon Holdings Ltd. 1,032,090 3,463,242 
Australia & New Zealand Banking Group Ltd. 1,474,962 28,281,865 
Bank of Queensland Ltd. 213,918 1,397,930 
Bendigo & Adelaide Bank Ltd. 258,766 1,878,896 
BHP Billiton Ltd. 1,516,428 40,128,235 
BlueScope Steel Ltd. 278,810 2,643,559 
Boral Ltd. 592,346 2,025,235 
Brambles Ltd. 817,281 6,942,514 
Caltex Australia Ltd. 133,917 2,568,754 
Challenger Ltd. 292,892 1,697,218 
Cimic Group Ltd. 50,832 1,812,843 
Coca-Cola Amatil Ltd. 265,623 1,647,808 
Cochlear Ltd. 30,022 3,964,654 
Coles Group Ltd. (a) 590,841 5,252,234 
Commonwealth Bank of Australia 911,399 47,878,409 
Computershare Ltd. 238,943 3,003,336 
Crown Ltd. 180,549 1,691,525 
CSL Ltd. 232,941 32,607,529 
DEXUS Property Group unit 531,017 4,679,255 
Dominos Pizza Enterprises Ltd. 31,973 969,193 
Flight Centre Travel Group Ltd. 28,635 775,152 
Fortescue Metals Group Ltd. 800,031 4,032,470 
Goodman Group unit 838,195 7,776,054 
Harvey Norman Holdings Ltd. (b) 323,519 951,030 
Incitec Pivot Ltd. 814,020 1,933,852 
Insurance Australia Group Ltd. 1,182,492 6,568,750 
Lendlease Group unit 289,394 2,713,310 
Macquarie Group Ltd. 166,424 15,803,085 
Medibank Private Ltd. 1,414,964 2,852,790 
Mirvac Group unit 1,857,227 3,705,184 
National Australia Bank Ltd. 1,405,427 25,093,956 
Newcrest Mining Ltd. 393,476 6,937,296 
Orica Ltd. 194,252 2,547,046 
Origin Energy Ltd. 917,540 4,767,062 
QBE Insurance Group Ltd. 680,714 6,204,711 
Ramsay Health Care Ltd. 73,609 3,389,498 
realestate.com.au Ltd. 28,114 1,583,535 
Rio Tinto Ltd. 190,849 12,830,985 
Santos Ltd. 920,760 4,666,955 
Scentre Group unit 2,715,467 7,312,506 
SEEK Ltd. 167,934 2,155,792 
Sonic Healthcare Ltd. 220,840 3,993,222 
South32 Ltd. 2,604,804 6,133,097 
SP AusNet 924,634 1,156,982 
Stockland Corp. Ltd. unit 1,263,456 3,357,838 
Suncorp Group Ltd. 661,546 6,188,555 
Sydney Airport unit 568,612 3,054,424 
Tabcorp Holdings Ltd. 992,004 3,349,710 
Telstra Corp. Ltd. 2,169,019 5,168,189 
The GPT Group unit 939,461 3,794,824 
TPG Telecom Ltd. 193,945 921,503 
Transurban Group unit 1,373,069 13,009,181 
Treasury Wine Estates Ltd. 374,333 4,538,840 
Vicinity Centres unit 1,702,759 3,048,914 
Washington H. Soul Pattinson & Co. Ltd. 57,471 931,421 
Wesfarmers Ltd. 582,436 14,785,283 
Westpac Banking Corp. 1,767,079 34,327,975 
Woodside Petroleum Ltd. 477,588 11,914,952 
Woolworths Group Ltd. 675,589 15,168,768 
WorleyParsons Ltd. 170,952 1,725,741 
TOTAL AUSTRALIA  486,850,537 
Austria - 0.2%   
Andritz AG 38,816 1,850,281 
Erste Group Bank AG 156,698 6,274,363 
OMV AG 76,613 4,103,116 
Raiffeisen International Bank-Holding AG 75,252 2,006,251 
Verbund AG 35,823 1,776,719 
Voestalpine AG 61,121 1,962,681 
TOTAL AUSTRIA  17,973,411 
Bailiwick of Jersey - 0.7%   
Experian PLC 468,419 13,635,168 
Ferguson PLC 119,009 8,442,213 
Glencore Xstrata PLC 5,781,913 22,940,086 
WPP PLC 645,884 8,059,210 
TOTAL BAILIWICK OF JERSEY  53,076,677 
Belgium - 1.0%   
Ageas 94,934 5,004,465 
Anheuser-Busch InBev SA NV 391,904 34,843,066 
Colruyt NV 30,167 2,174,257 
Groupe Bruxelles Lambert SA 41,880 4,003,006 
KBC Groep NV 127,638 9,451,343 
Proximus 74,965 2,097,815 
Solvay SA Class A 38,535 4,631,115 
Telenet Group Holding NV 27,946 1,483,209 
UCB SA 64,444 5,111,669 
Umicore SA 108,851 4,212,011 
TOTAL BELGIUM  73,011,956 
Bermuda - 0.3%   
Cheung Kong Infrastructure Holdings Ltd. 340,000 2,760,810 
Dairy Farm International Holdings Ltd. 180,113 1,410,285 
Hongkong Land Holdings Ltd. 608,223 4,239,314 
Jardine Matheson Holdings Ltd. 113,191 7,447,968 
Jardine Strategic Holdings Ltd. 115,120 4,353,838 
Kerry Properties Ltd. 332,000 1,417,754 
NWS Holdings Ltd. 829,856 1,724,283 
Shangri-La Asia Ltd. 644,000 912,870 
Yue Yuen Industrial (Holdings) Ltd. 373,500 1,206,943 
TOTAL BERMUDA  25,474,065 
Cayman Islands - 0.7%   
ASM Pacific Technology Ltd. 161,800 1,873,793 
BeiGene Ltd. ADR (a)(b) 16,697 2,074,268 
Cheung Kong Property Holdings Ltd. 1,323,000 10,624,745 
CK Hutchison Holdings Ltd. 1,383,500 14,531,970 
Melco Crown Entertainment Ltd. sponsored ADR 130,062 3,264,556 
MGM China Holdings Ltd. 487,600 1,004,438 
Minth Group Ltd. 392,000 1,236,743 
Sands China Ltd. 1,239,600 6,810,468 
WH Group Ltd. (c) 4,573,000 5,421,285 
Wharf Real Estate Investment Co. Ltd. 631,000 4,834,170 
Wynn Macau Ltd. 788,800 2,262,390 
TOTAL CAYMAN ISLANDS  53,938,826 
Denmark - 1.7%   
A.P. Moller - Maersk A/S:   
Series A 1,912 2,329,570 
Series B 3,344 4,310,731 
Carlsberg A/S Series B 54,751 7,072,234 
Christian Hansen Holding A/S 51,515 5,254,974 
Coloplast A/S Series B 61,065 6,588,778 
Danske Bank A/S 366,938 6,507,674 
DONG Energy A/S (c) 96,514 7,389,020 
DSV de Sammensluttede Vognmaend A/S 96,382 8,905,087 
Genmab A/S (a) 31,531 5,234,403 
H Lundbeck A/S 37,166 1,563,403 
ISS Holdings A/S 86,048 2,675,952 
Novo Nordisk A/S Series B 934,950 45,807,459 
Novozymes A/S Series B 114,080 5,316,409 
Pandora A/S 56,327 2,362,649 
Tryg A/S 60,334 1,843,657 
Vestas Wind Systems A/S 100,352 9,075,899 
William Demant Holding A/S (a) 53,935 1,701,598 
TOTAL DENMARK  123,939,497 
Finland - 1.1%   
Elisa Corp. (A Shares) 73,595 3,122,645 
Fortum Corp. 231,734 4,896,758 
Kone Oyj (B Shares) 174,413 9,558,072 
Metso Corp. 54,880 2,044,189 
Neste Oyj 196,845 6,499,803 
Nokia Corp. 2,896,205 15,218,430 
Nokian Tyres PLC 59,537 1,991,281 
Nordea Bank ABP (Stockholm Stock Exchange) 1,560,992 12,280,878 
Orion Oyj (B Shares) 52,706 1,751,579 
Sampo Oyj (A Shares) 228,186 10,448,203 
Stora Enso Oyj (R Shares) 285,743 3,546,215 
UPM-Kymmene Corp. 273,076 7,690,742 
Wartsila Corp. 228,632 3,646,487 
TOTAL FINLAND  82,695,282 
France - 10.3%   
Accor SA 98,243 4,138,712 
Aeroports de Paris 15,456 3,148,118 
Air Liquide SA 220,452 29,327,130 
Alstom SA 80,261 3,528,813 
Amundi SA (c) 30,664 2,202,855 
Arkema SA 35,615 3,653,441 
Atos Origin SA 49,923 5,139,096 
AXA SA 1,000,868 26,689,684 
BIC SA 13,111 1,130,102 
bioMerieux SA 21,361 1,695,064 
BNP Paribas SA 578,099 30,773,991 
Bollore SA 445,987 2,118,928 
Bouygues SA 113,722 4,278,047 
Bureau Veritas SA 136,606 3,459,646 
Capgemini SA 82,172 9,962,941 
Carrefour SA 308,224 6,004,879 
Casino Guichard Perrachon SA (b) 29,229 1,196,589 
CNP Assurances 91,117 2,150,221 
Compagnie de St. Gobain 254,745 10,444,529 
Covivio 23,336 2,525,758 
Credit Agricole SA 586,675 8,047,520 
Danone SA 317,267 25,659,767 
Dassault Aviation SA 1,325 2,004,776 
Dassault Systemes SA 67,177 10,627,514 
Edenred SA 124,755 5,878,258 
EDF SA 313,743 4,518,321 
Eiffage SA 40,522 4,231,346 
ENGIE 936,172 13,865,389 
Essilor International SA 148,209 18,057,570 
Eurazeo SA 24,527 1,924,288 
Eutelsat Communications 92,939 1,677,228 
Faurecia SA 40,454 2,054,499 
Gecina SA 23,662 3,532,381 
Groupe Eurotunnel SA 242,353 3,900,662 
Hermes International SCA 16,326 11,484,811 
ICADE 18,000 1,538,387 
Iliad SA 14,129 1,437,331 
Imerys SA 17,525 933,269 
Ingenico SA 31,542 2,658,973 
Ipsen SA 19,300 2,253,440 
JCDecaux SA 39,151 1,282,223 
Kering SA 38,991 23,046,925 
Klepierre SA 105,989 3,764,843 
L'Oreal SA 129,963 35,727,369 
Legrand SA 136,880 10,058,932 
LVMH Moet Hennessy - Louis Vuitton SA 143,036 56,158,401 
Michelin CGDE Series B 87,724 11,343,633 
Natixis SA 485,582 2,858,212 
Orange SA 1,021,495 15,964,489 
Pernod Ricard SA 109,114 19,012,085 
Peugeot Citroen SA 301,611 7,902,382 
Publicis Groupe SA 110,099 6,543,878 
Remy Cointreau SA 12,145 1,618,274 
Renault SA 98,319 6,706,901 
Rexel SA 151,750 2,039,030 
Safran SA 171,513 24,999,928 
Sanofi SA 579,846 50,591,159 
Sartorius Stedim Biotech 14,359 1,948,712 
Schneider Electric SA 283,057 23,956,794 
SCOR SE 84,642 3,451,817 
SEB SA 11,803 2,160,482 
Societe Generale Series A 393,075 12,464,998 
Sodexo SA 45,089 5,170,969 
SR Teleperformance SA 29,484 5,664,763 
Suez Environnement SA 185,885 2,611,320 
Thales SA 54,283 6,481,082 
Total SA 1,241,976 69,042,377 
Ubisoft Entertainment SA (a) 41,327 3,948,308 
Valeo SA 124,643 4,525,313 
Veolia Environnement SA 279,216 6,595,332 
VINCI SA 261,466 26,407,085 
Vivendi SA 535,418 15,540,957 
Wendel SA 14,487 2,005,080 
TOTAL FRANCE  751,448,327 
Germany - 8.2%   
adidas AG 92,811 23,848,581 
Allianz SE 219,004 52,936,368 
Axel Springer Verlag AG 25,890 1,466,430 
BASF AG 472,351 38,563,191 
Bayer AG 479,726 31,928,521 
Bayerische Motoren Werke AG (BMW) 169,754 14,451,063 
Beiersdorf AG 52,546 5,742,684 
Brenntag AG 78,269 4,219,020 
Commerzbank AG 520,983 4,681,688 
Continental AG 56,382 9,318,759 
Covestro AG (c) 98,372 5,378,784 
Daimler AG (Germany) 467,457 30,587,649 
Delivery Hero AG (a)(c) 49,501 2,281,330 
Deutsche Bank AG 1,005,623 8,311,545 
Deutsche Borse AG 97,445 13,020,831 
Deutsche Lufthansa AG 124,763 3,011,384 
Deutsche Post AG 508,112 17,662,192 
Deutsche Telekom AG 1,714,411 28,724,791 
Deutsche Wohnen AG (Bearer) 182,902 8,220,075 
Drillisch AG (b) 27,810 1,036,812 
E.ON AG 1,126,359 12,110,302 
Evonik Industries AG 83,450 2,485,950 
Fraport AG Frankfurt Airport Services Worldwide 20,444 1,693,151 
Fresenius Medical Care AG & Co. KGaA 111,169 9,369,708 
Fresenius SE & Co. KGaA 214,427 12,164,557 
GEA Group AG 83,024 2,320,543 
Hannover Reuck SE 31,408 4,734,537 
HeidelbergCement Finance AG 77,528 6,260,789 
Henkel AG & Co. KGaA 51,764 4,932,070 
Hochtief AG 11,022 1,644,183 
Hugo Boss AG 31,853 2,220,748 
Infineon Technologies AG 584,228 13,849,467 
innogy SE (c) 71,625 3,325,049 
KION Group AG 35,953 2,461,431 
Lanxess AG 44,677 2,580,651 
Merck KGaA 66,116 7,035,893 
Metro Wholesale & Food Specialist AG 95,984 1,625,600 
MTU Aero Engines Holdings AG 27,082 6,369,673 
Muenchener Rueckversicherungs AG 77,027 19,265,747 
OSRAM Licht AG (b) 50,732 1,734,912 
ProSiebenSat.1 Media AG 118,777 1,877,692 
Puma AG 4,237 2,620,849 
RWE AG 265,173 6,772,209 
SAP SE 505,982 65,225,253 
Siemens AG 393,922 47,232,112 
Siemens Healthineers AG (c) 77,051 3,285,704 
Symrise AG 64,298 6,180,396 
Telefonica Deutschland Holding AG 387,201 1,257,688 
Thyssenkrupp AG 226,485 3,184,211 
TUI AG (GB) 227,363 2,531,358 
Uniper SE 103,726 3,142,319 
United Internet AG 64,830 2,598,047 
Volkswagen AG 16,845 3,011,600 
Vonovia SE 252,992 12,618,622 
Wirecard AG (b) 60,323 9,045,912 
Zalando SE (a)(b)(c) 58,894 2,770,368 
TOTAL GERMANY  596,930,999 
Hong Kong - 2.9%   
AIA Group Ltd. 6,216,000 63,648,332 
Bank of East Asia Ltd. 672,136 2,120,560 
BOC Hong Kong (Holdings) Ltd. 1,894,500 8,476,564 
CLP Holdings Ltd. 841,000 9,535,865 
Galaxy Entertainment Group Ltd. 1,219,000 9,113,598 
Hang Lung Group Ltd. 473,000 1,407,882 
Hang Lung Properties Ltd. 1,069,000 2,512,793 
Hang Seng Bank Ltd. 392,400 10,304,202 
Henderson Land Development Co. Ltd. 684,565 4,214,829 
Hong Kong & China Gas Co. Ltd. 4,731,273 11,294,774 
Hong Kong Exchanges and Clearing Ltd. 617,806 21,420,971 
Hysan Development Co. Ltd. 328,000 1,835,509 
Link (REIT) 1,085,000 12,655,198 
MTR Corp. Ltd. 794,903 4,732,048 
New World Development Co. Ltd. 3,193,380 5,283,764 
PCCW Ltd. 2,254,584 1,359,395 
Power Assets Holdings Ltd. 723,500 5,044,800 
Sino Land Ltd. 1,720,697 3,026,925 
SJM Holdings Ltd. 998,000 1,204,755 
Sun Hung Kai Properties Ltd. 815,500 14,075,400 
Swire Pacific Ltd. (A Shares) 256,500 3,246,794 
Swire Properties Ltd. 592,400 2,405,152 
Techtronic Industries Co. Ltd. 714,000 5,160,590 
Wharf Holdings Ltd. 649,000 1,865,561 
Wheelock and Co. Ltd. 420,000 2,990,134 
TOTAL HONG KONG  208,936,395 
Ireland - 0.7%   
AIB Group PLC 426,735 1,980,554 
Bank Ireland Group PLC 502,368 3,206,064 
CRH PLC 420,844 14,157,488 
DCC PLC (United Kingdom) 50,970 4,551,515 
James Hardie Industries PLC CDI 225,944 3,070,903 
Kerry Group PLC Class A 81,203 9,089,513 
Kingspan Group PLC (Ireland) 79,279 4,168,538 
Paddy Power Betfair PLC (Ireland) 40,525 3,394,418 
Ryanair Holdings PLC sponsored ADR (a) 14,552 1,129,817 
Smurfit Kappa Group PLC 116,672 3,419,354 
TOTAL IRELAND  48,168,164 
Isle of Man - 0.1%   
Gaming VC Holdings SA 281,158 2,393,361 
Genting Singapore Ltd. 3,103,800 2,247,808 
TOTAL ISLE OF MAN  4,641,169 
Israel - 0.5%   
Azrieli Group 22,195 1,263,368 
Bank Hapoalim BM (Reg.) 553,956 4,072,357 
Bank Leumi le-Israel BM 759,648 5,195,997 
Bezeq The Israel Telecommunication Corp. Ltd. 1,061,219 725,579 
Check Point Software Technologies Ltd. (a) 64,115 7,742,527 
Elbit Systems Ltd. (Israel) 12,561 1,748,370 
Israel Chemicals Ltd. 373,397 1,977,018 
Mizrahi Tefahot Bank Ltd. 73,514 1,589,420 
NICE Systems Ltd. (a) 31,810 4,388,745 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 496,547 7,557,445 
Wix.com Ltd. (a) 21,587 2,896,112 
TOTAL ISRAEL  39,156,938 
Italy - 1.9%   
Assicurazioni Generali SpA 609,766 11,831,704 
Atlantia SpA 253,783 6,922,518 
Davide Campari-Milano SpA 296,816 2,991,186 
Enel SpA 4,188,382 26,521,520 
Eni SpA 1,304,681 22,233,255 
Intesa Sanpaolo SpA 7,651,110 20,046,034 
Leonardo SpA 201,912 2,331,452 
Mediobanca SpA 315,595 3,345,029 
Moncler SpA 92,462 3,792,506 
Pirelli & C. SpA (c) 206,141 1,504,700 
Poste Italiane SpA (c) 266,003 2,837,299 
Prysmian SpA 124,003 2,390,816 
Recordati SpA 52,855 2,133,565 
Snam Rete Gas SpA 1,173,308 5,970,612 
Telecom Italia SpA (a) 5,845,626 3,272,238 
Terna SpA 732,138 4,383,384 
UniCredit SpA 1,031,220 14,261,080 
TOTAL ITALY  136,768,898 
Japan - 23.5%   
ABC-MART, Inc. 16,400 1,018,789 
ACOM Co. Ltd. 218,900 766,381 
AEON Co. Ltd. 310,700 5,730,357 
AEON Financial Service Co. Ltd. 60,100 1,240,360 
AEON MALL Co. Ltd. 50,600 774,024 
Agc, Inc. 91,500 3,109,004 
Air Water, Inc. 76,000 1,154,379 
Aisin Seiki Co. Ltd. 83,800 3,238,556 
Ajinomoto Co., Inc. 222,500 3,580,334 
Alfresa Holdings Corp. 95,000 2,639,481 
All Nippon Airways Ltd. 58,900 2,055,776 
Alps Electric Co. Ltd. 106,100 2,235,439 
Amada Holdings Co. Ltd. 178,200 1,977,245 
Aozora Bank Ltd. 62,850 1,528,441 
Asahi Group Holdings 185,500 8,041,470 
ASAHI INTECC Co. Ltd. 50,000 2,518,066 
Asahi Kasei Corp. 645,800 6,626,414 
Asics Corp. 84,000 1,029,310 
Astellas Pharma, Inc. 964,700 13,065,776 
Bandai Namco Holdings, Inc. 104,100 4,952,915 
Bank of Kyoto Ltd. 27,100 1,167,736 
Benesse Holdings, Inc. 39,000 1,073,073 
Bridgestone Corp. 312,700 12,368,205 
Brother Industries Ltd. 112,500 2,204,655 
Calbee, Inc. 42,600 1,170,214 
Canon, Inc. 513,300 14,243,088 
Casio Computer Co. Ltd. 103,600 1,302,963 
Central Japan Railway Co. 74,200 15,916,415 
Chiba Bank Ltd. 318,500 1,661,192 
Chubu Electric Power Co., Inc. 316,200 4,587,093 
Chugai Pharmaceutical Co. Ltd. 114,900 7,261,511 
Chugoku Electric Power Co., Inc. 148,600 1,770,207 
Coca-Cola West Co. Ltd. 71,500 1,756,771 
Concordia Financial Group Ltd. 549,600 2,131,399 
Credit Saison Co. Ltd. 86,000 1,093,191 
CyberAgent, Inc. 54,000 2,147,493 
Dai Nippon Printing Co. Ltd. 125,900 2,975,849 
Dai-ichi Mutual Life Insurance Co. 550,600 7,883,720 
Daicel Chemical Industries Ltd. 135,500 1,510,759 
Daifuku Co. Ltd. 52,000 3,164,954 
Daiichi Sankyo Kabushiki Kaisha 290,800 14,308,315 
Daikin Industries Ltd. 127,900 16,284,161 
Dainippon Sumitomo Pharma Co. Ltd. 81,600 1,794,695 
Daito Trust Construction Co. Ltd. 36,700 4,897,397 
Daiwa House Industry Co. Ltd. 289,600 8,087,846 
Daiwa House REIT Investment Corp. 909 2,084,919 
Daiwa Securities Group, Inc. 842,700 3,922,630 
DeNA Co. Ltd. 60,500 942,300 
DENSO Corp. 221,300 9,641,087 
Dentsu, Inc. 112,600 4,584,057 
Disco Corp. 14,500 2,483,594 
East Japan Railway Co. 157,100 14,758,755 
Eisai Co. Ltd. 129,100 7,479,792 
Electric Power Development Co. Ltd. 78,000 1,806,544 
FamilyMart Co. Ltd. 131,200 3,495,683 
Fanuc Corp. 99,500 18,693,619 
Fast Retailing Co. Ltd. 30,000 17,305,983 
Fuji Electric Co. Ltd. 59,600 2,100,004 
Fujifilm Holdings Corp. 198,200 9,223,653 
Fujitsu Ltd. 100,400 7,332,053 
Fukuoka Financial Group, Inc. 90,300 2,088,180 
Hakuhodo DY Holdings, Inc. 124,600 2,095,029 
Hamamatsu Photonics K.K. 71,900 2,907,756 
Hankyu Hanshin Holdings, Inc. 119,200 4,440,774 
Hikari Tsushin, Inc. 10,500 1,936,083 
Hino Motors Ltd. 138,100 1,299,240 
Hirose Electric Co. Ltd. 16,430 1,896,762 
Hisamitsu Pharmaceutical Co., Inc. 30,300 1,281,144 
Hitachi Chemical Co. Ltd. 53,400 1,414,157 
Hitachi Construction Machinery Co. Ltd. 56,900 1,506,845 
Hitachi High-Technologies Corp. 36,200 1,608,600 
Hitachi Ltd. 496,100 16,429,040 
Hitachi Metals Ltd. 113,500 1,305,207 
Honda Motor Co. Ltd. 837,800 23,377,092 
Hoshizaki Corp. 28,900 1,867,947 
Hoya Corp. 195,900 13,743,512 
Hulic Co. Ltd. 159,800 1,374,284 
Idemitsu Kosan Co. Ltd. 110,223 3,567,071 
IHI Corp. 75,100 1,777,806 
Iida Group Holdings Co. Ltd. 76,600 1,292,081 
INPEX Corp. 533,500 5,177,194 
Isetan Mitsukoshi Holdings Ltd. 179,000 1,701,701 
Isuzu Motors Ltd. 287,000 4,110,674 
Itochu Corp. 691,500 12,415,279 
J. Front Retailing Co. Ltd. 122,600 1,491,297 
Japan Airlines Co. Ltd. 58,800 1,968,358 
Japan Airport Terminal Co. Ltd. 23,700 996,764 
Japan Exchange Group, Inc. 265,800 4,314,075 
Japan Post Bank Co. Ltd. 205,100 2,251,782 
Japan Post Holdings Co. Ltd. 811,700 9,057,346 
Japan Prime Realty Investment Corp. 446 1,781,678 
Japan Real Estate Investment Corp. 684 3,788,572 
Japan Retail Fund Investment Corp. 1,348 2,577,530 
Japan Tobacco, Inc. 564,700 13,048,875 
JFE Holdings, Inc. 255,800 4,374,514 
JGC Corp. 110,700 1,578,092 
JSR Corp. 102,600 1,554,727 
JTEKT Corp. 107,400 1,377,751 
JX Holdings, Inc. 1,638,800 7,954,569 
Kajima Corp. 233,000 3,440,774 
Kakaku.com, Inc. 71,900 1,471,628 
Kamigumi Co. Ltd. 55,700 1,326,060 
Kaneka Corp. 24,600 945,177 
Kansai Electric Power Co., Inc. 367,200 4,435,276 
Kansai Paint Co. Ltd. 92,500 1,756,250 
Kao Corp. 251,200 19,296,363 
Kawasaki Heavy Industries Ltd. 74,700 1,734,137 
KDDI Corp. 912,100 21,021,668 
Keihan Electric Railway Co., Ltd. 48,100 2,040,240 
Keihin Electric Express Railway Co. Ltd. 109,000 1,855,236 
Keio Corp. 53,700 3,229,858 
Keisei Electric Railway Co. 68,300 2,385,089 
Keyence Corp. 50,100 31,086,781 
Kikkoman Corp. 75,500 3,497,284 
Kintetsu Group Holdings Co. Ltd. 87,200 3,863,118 
Kirin Holdings Co. Ltd. 420,000 9,499,439 
Kobayashi Pharmaceutical Co. Ltd. 25,700 2,044,095 
Kobe Steel Ltd. 161,900 1,233,925 
Koito Manufacturing Co. Ltd. 54,700 3,250,720 
Komatsu Ltd. 473,000 12,217,784 
Konami Holdings Corp. 47,000 2,134,925 
Konica Minolta, Inc. 228,400 2,284,103 
Kose Corp. 15,500 2,901,163 
Kubota Corp. 502,700 7,594,992 
Kuraray Co. Ltd. 160,100 2,137,158 
Kurita Water Industries Ltd. 52,100 1,349,797 
Kyocera Corp. 164,500 10,617,667 
Kyowa Hakko Kirin Co., Ltd. 133,000 2,574,155 
Kyushu Electric Power Co., Inc. 195,500 1,890,152 
Kyushu Railway Co. 82,500 2,681,000 
Lawson, Inc. 26,800 1,248,638 
LINE Corp. (a)(b) 36,900 1,236,314 
Lion Corp. 114,400 2,349,721 
LIXIL Group Corp. 141,800 1,841,955 
M3, Inc. 217,500 3,844,495 
Makita Corp. 116,400 4,231,967 
Marubeni Corp. 814,600 5,814,341 
Marui Group Co. Ltd. 101,200 2,050,437 
Maruichi Steel Tube Ltd. 29,000 799,228 
Mazda Motor Corp. 294,800 3,481,390 
McDonald's Holdings Co. (Japan) Ltd. 35,700 1,650,478 
Mebuki Financial Group, Inc. 422,990 1,074,610 
Medipal Holdings Corp. 88,000 1,971,004 
Meiji Holdings Co. Ltd. 63,700 5,003,591 
Minebea Mitsumi, Inc. 199,300 3,524,584 
Misumi Group, Inc. 147,700 3,815,976 
Mitsubishi Chemical Holdings Corp. 667,100 4,725,604 
Mitsubishi Corp. 694,200 19,044,618 
Mitsubishi Electric Corp. 933,500 13,257,301 
Mitsubishi Estate Co. Ltd. 605,000 10,186,072 
Mitsubishi Gas Chemical Co., Inc. 82,900 1,235,370 
Mitsubishi Heavy Industries Ltd. 155,600 6,454,757 
Mitsubishi Materials Corp. 52,700 1,364,395 
Mitsubishi Motors Corp. of Japan 341,900 1,912,148 
Mitsubishi Tanabe Pharma Corp. 129,100 1,620,197 
Mitsubishi UFJ Financial Group, Inc. 6,039,200 29,963,649 
Mitsubishi UFJ Lease & Finance Co. Ltd. 203,700 1,031,346 
Mitsui & Co. Ltd. 845,900 13,623,094 
Mitsui Chemicals, Inc. 94,200 2,298,448 
Mitsui Fudosan Co. Ltd. 456,800 10,526,555 
Mitsui OSK Lines Ltd. 61,100 1,546,766 
Mizuho Financial Group, Inc. 12,376,700 19,329,035 
MonotaRO Co. Ltd. 63,500 1,460,452 
MS&AD Insurance Group Holdings, Inc. 243,000 7,499,744 
Murata Manufacturing Co. Ltd. 277,800 13,949,355 
Nabtesco Corp. 59,900 1,822,892 
Nagoya Railroad Co. Ltd. 90,400 2,442,695 
NEC Corp. 135,400 4,552,027 
New Hampshire Foods Ltd. 46,500 1,865,928 
Nexon Co. Ltd. (a) 229,600 3,289,570 
NGK Insulators Ltd. 126,900 1,872,827 
NGK Spark Plug Co. Ltd. 83,500 1,616,854 
Nidec Corp. 114,700 16,253,328 
Nikon Corp. 165,300 2,300,058 
Nintendo Co. Ltd. 58,200 20,044,998 
Nippon Building Fund, Inc. 699 4,499,152 
Nippon Electric Glass Co. Ltd. 44,400 1,215,674 
Nippon Express Co. Ltd. 37,600 2,058,979 
Nippon Paint Holdings Co. Ltd. 74,500 2,818,955 
Nippon Prologis REIT, Inc. 890 1,909,511 
Nippon Steel & Sumitomo Metal Corp. 408,700 7,266,308 
Nippon Telegraph & Telephone Corp. 331,000 13,772,391 
Nippon Yusen KK 77,700 1,322,494 
Nissan Chemical Corp. 65,500 2,898,828 
Nissan Motor Co. Ltd. 1,193,800 9,583,879 
Nisshin Seifun Group, Inc. 97,200 2,254,722 
Nissin Food Holdings Co. Ltd. 32,200 2,118,820 
Nitori Holdings Co. Ltd. 41,700 4,960,052 
Nitto Denko Corp. 86,000 4,624,445 
NKSJ Holdings, Inc. 161,700 6,040,071 
Nomura Holdings, Inc. 1,754,400 6,642,543 
Nomura Real Estate Holdings, Inc. 66,200 1,399,533 
Nomura Real Estate Master Fund, Inc. 2,007 2,938,567 
Nomura Research Institute Ltd. 58,040 2,829,186 
NSK Ltd. 191,800 1,980,071 
NTT Data Corp. 328,500 3,815,961 
NTT DOCOMO, Inc. 686,500 14,907,749 
Obayashi Corp. 339,800 3,321,892 
OBIC Co. Ltd. 33,300 3,844,320 
Odakyu Electric Railway Co. Ltd. 152,800 3,585,612 
Oji Holdings Corp. 437,400 2,615,094 
Olympus Corp. 598,400 6,682,612 
OMRON Corp. 100,100 5,346,694 
Ono Pharmaceutical Co. Ltd. 198,200 3,699,959 
Oracle Corp. Japan 19,900 1,359,478 
Oriental Land Co. Ltd. 102,600 11,301,243 
ORIX Corp. 676,800 9,547,926 
Osaka Gas Co. Ltd. 194,700 3,591,799 
Otsuka Corp. 53,000 2,079,178 
Otsuka Holdings Co. Ltd. 199,300 7,101,052 
Pan Pacific International Hold 61,300 3,945,608 
Panasonic Corp. 1,123,000 10,340,809 
Park24 Co. Ltd. 55,500 1,162,364 
Persol Holdings Co., Ltd. 95,000 1,777,279 
Pigeon Corp. 59,300 2,509,982 
Pola Orbis Holdings, Inc. 48,100 1,511,289 
Rakuten, Inc. 445,700 4,941,330 
Recruit Holdings Co. Ltd. 566,800 16,938,617 
Renesas Electronics Corp. (a) 435,000 2,315,678 
Resona Holdings, Inc. 1,088,700 4,590,533 
Ricoh Co. Ltd. 348,800 3,516,337 
Rinnai Corp. 18,000 1,208,672 
ROHM Co. Ltd. 49,000 3,584,990 
Ryohin Keikaku Co. Ltd. 12,300 2,334,234 
Sankyo Co. Ltd. (Gunma) 23,300 917,191 
Santen Pharmaceutical Co. Ltd. 188,400 2,865,026 
SBI Holdings, Inc. Japan 119,700 2,549,918 
Secom Co. Ltd. 107,500 9,011,491 
Sega Sammy Holdings, Inc. 88,700 1,117,957 
Seibu Holdings, Inc. 118,500 1,922,254 
Seiko Epson Corp. 142,700 2,278,947 
Sekisui Chemical Co. Ltd. 190,900 3,052,138 
Sekisui House Ltd. 323,800 5,208,938 
Seven & i Holdings Co. Ltd. 386,600 13,379,186 
Seven Bank Ltd. 308,100 835,282 
SG Holdings Co. Ltd. 49,200 1,313,973 
Sharp Corp. 113,700 1,261,575 
Shimadzu Corp. 114,000 3,043,548 
Shimamura Co. Ltd. 11,300 840,944 
SHIMANO, Inc. 37,800 5,527,735 
SHIMIZU Corp. 283,900 2,418,610 
Shin-Etsu Chemical Co. Ltd. 186,700 17,685,070 
Shinsei Bank Ltd. 83,300 1,153,091 
Shionogi & Co. Ltd. 141,000 8,197,100 
Shiseido Co. Ltd. 195,100 15,268,924 
Shizuoka Bank Ltd. 230,100 1,755,779 
Showa Denko K.K. 69,500 2,349,006 
SMC Corp. 29,400 12,156,416 
SoftBank Corp. 424,900 45,052,736 
SoftBank Corp. 860,000 10,129,000 
Sohgo Security Services Co., Ltd. 37,200 1,654,706 
Sony Corp. 652,800 32,880,302 
Sony Financial Holdings, Inc. 92,800 1,888,573 
Stanley Electric Co. Ltd. 69,700 1,883,361 
Subaru Corp. 316,000 7,717,384 
Sumco Corp. 123,700 1,621,276 
Sumitomo Chemical Co. Ltd. 775,500 3,842,865 
Sumitomo Corp. 567,500 8,097,682 
Sumitomo Electric Industries Ltd. 391,300 5,179,513 
Sumitomo Heavy Industries Ltd. 58,200 2,050,676 
Sumitomo Metal Mining Co. Ltd. 120,400 3,760,237 
Sumitomo Mitsui Financial Group, Inc. 681,900 24,784,497 
Sumitomo Mitsui Trust Holdings, Inc. 172,700 6,025,704 
Sumitomo Realty & Development Co. Ltd. 181,800 6,696,220 
Sumitomo Rubber Industries Ltd. 90,700 1,113,038 
Sundrug Co. Ltd. 38,400 1,025,884 
Suntory Beverage & Food Ltd. 71,900 3,162,709 
Suzuken Co. Ltd. 37,400 2,148,750 
Suzuki Motor Corp. 176,200 8,011,607 
Sysmex Corp. 87,200 4,972,345 
T&D Holdings, Inc. 288,800 3,102,017 
Taiheiyo Cement Corp. 60,500 1,938,911 
Taisei Corp. 111,200 4,866,466 
Taisho Pharmaceutical Holdings Co. Ltd. 19,300 1,781,085 
Taiyo Nippon Sanso Corp. 68,500 1,137,003 
Takashimaya Co. Ltd. 71,100 797,198 
Takeda Pharmaceutical Co. Ltd. 763,503 28,174,578 
TDK Corp. 66,300 5,767,288 
Teijin Ltd. 95,300 1,631,466 
Terumo Corp. 312,000 9,374,424 
THK Co. Ltd. 63,700 1,661,764 
Tobu Railway Co. Ltd. 98,700 2,782,154 
Toho Co. Ltd. 56,000 2,340,141 
Toho Gas Co. Ltd. 39,700 1,632,264 
Tohoku Electric Power Co., Inc. 220,500 2,517,851 
Tokio Marine Holdings, Inc. 332,900 16,741,378 
Tokyo Century Corp. 21,300 979,003 
Tokyo Electric Power Co., Inc. (a) 754,400 4,253,002 
Tokyo Electron Ltd. 80,500 12,751,223 
Tokyo Gas Co. Ltd. 199,900 5,073,094 
Tokyu Corp. 260,500 4,237,407 
Tokyu Fudosan Holdings Corp. 298,800 1,679,149 
Toppan Printing Co. Ltd. 129,800 2,098,566 
Toray Industries, Inc. 722,600 4,944,806 
Toshiba Corp. 334,900 11,123,749 
Tosoh Corp. 129,800 2,079,923 
Toto Ltd. 72,800 3,065,057 
Toyo Seikan Group Holdings Ltd. 80,700 1,607,552 
Toyo Suisan Kaisha Ltd. 47,600 1,809,650 
Toyoda Gosei Co. Ltd. 36,100 748,606 
Toyota Industries Corp. 76,000 4,298,218 
Toyota Motor Corp. 1,176,450 72,834,555 
Toyota Tsusho Corp. 110,100 3,637,219 
Trend Micro, Inc. 61,400 3,064,626 
Tsuruha Holdings, Inc. 19,700 1,674,752 
Unicharm Corp. 206,400 6,761,108 
United Urban Investment Corp. 1,488 2,375,029 
USS Co. Ltd. 106,900 2,040,212 
Welcia Holdings Co. Ltd. 22,000 864,042 
West Japan Railway Co. 83,800 6,215,320 
Yahoo! Japan Corp. 1,479,600 3,931,609 
Yakult Honsha Co. Ltd. 62,300 4,222,497 
Yamada Denki Co. Ltd. 335,600 1,587,694 
Yamaguchi Financial Group, Inc. 103,900 764,828 
Yamaha Corp. 70,200 3,623,592 
Yamaha Motor Co. Ltd. 141,400 2,904,288 
Yamato Holdings Co. Ltd. 160,600 3,478,141 
Yamazaki Baking Co. Ltd. 61,400 910,569 
Yaskawa Electric Corp. 124,400 4,573,078 
Yokogawa Electric Corp. 114,300 2,378,450 
Yokohama Rubber Co. Ltd. 63,500 1,193,101 
Zozo, Inc. 102,500 1,808,093 
TOTAL JAPAN  1,707,713,738 
Luxembourg - 0.3%   
ArcelorMittal SA (Netherlands) 339,257 7,354,510 
Aroundtown SA 399,025 3,233,971 
Eurofins Scientific SA 5,865 2,683,899 
Millicom International Cellular SA (depository receipt) 33,531 1,961,295 
RTL Group SA 20,058 1,127,102 
SES SA (France) (depositary receipt) 189,020 3,216,113 
Tenaris SA 245,107 3,397,632 
TOTAL LUXEMBOURG  22,974,522 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 3,181,800 678,422 
Multi-National - 0.1%   
HK Electric Investments & HK Electric Investments Ltd. unit 1,410,500 1,380,869 
HKT Trust/HKT Ltd. unit 1,950,000 3,022,639 
TOTAL MULTI-NATIONAL  4,403,508 
Netherlands - 4.8%   
ABN AMRO Group NV GDR (c) 220,220 5,179,564 
Adyen BV (c) 5,324 4,332,847 
AEGON NV 927,945 4,844,011 
AerCap Holdings NV (a) 65,149 3,233,996 
Airbus Group NV 299,556 41,018,098 
Akzo Nobel NV 115,047 9,768,079 
ASML Holding NV (Netherlands) 210,978 43,904,873 
CNH Industrial NV 528,321 5,728,917 
EXOR NV 56,263 3,745,888 
Ferrari NV 63,092 8,544,751 
Fiat Chrysler Automobiles NV 556,416 8,571,062 
Heineken Holding NV 58,817 5,973,506 
Heineken NV (Bearer) 133,232 14,381,433 
ING Groep NV (Certificaten Van Aandelen) 2,000,411 25,525,302 
Koninklijke Ahold Delhaize NV 607,473 14,641,068 
Koninklijke DSM NV 93,121 10,650,400 
Koninklijke KPN NV 1,750,785 5,380,785 
Koninklijke Philips Electronics NV 476,259 20,452,338 
NN Group NV 158,761 6,912,535 
NXP Semiconductors NV 176,946 18,689,037 
QIAGEN NV (Germany) (a) 118,085 4,560,052 
Randstad NV 61,613 3,518,834 
STMicroelectronics NV (France) 349,761 6,423,263 
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit 70,699 12,152,112 
Unilever NV (Certificaten Van Aandelen) (Bearer) 794,324 48,060,243 
Vopak NV 37,478 1,670,904 
Wolters Kluwer NV 143,677 10,020,190 
TOTAL NETHERLANDS  347,884,088 
New Zealand - 0.2%   
Auckland International Airport Ltd. 519,679 2,766,336 
Fisher & Paykel Healthcare Corp. 293,443 3,098,611 
Fletcher Building Ltd. 438,246 1,510,355 
Meridian Energy Ltd. 677,032 1,835,890 
Ryman Healthcare Group Ltd. 214,286 1,738,928 
Spark New Zealand Ltd. 940,121 2,304,418 
The a2 Milk Co. Ltd. (a) 379,333 4,248,789 
TOTAL NEW ZEALAND  17,503,327 
Norway - 0.7%   
Aker Bp ASA 56,323 1,857,315 
DNB ASA 495,589 9,515,479 
Equinor ASA 599,181 13,365,755 
Gjensidige Forsikring ASA 106,787 2,073,864 
Marine Harvest ASA 225,291 4,880,572 
Norsk Hydro ASA 693,463 2,986,805 
Orkla ASA 423,099 3,317,135 
Schibsted ASA (B Shares) 49,668 1,188,239 
Telenor ASA 377,529 7,579,067 
Yara International ASA 92,084 4,153,010 
TOTAL NORWAY  50,917,241 
Papua New Guinea - 0.1%   
Oil Search Ltd. ADR 713,199 3,911,548 
Portugal - 0.2%   
Energias de Portugal SA 1,329,276 5,037,805 
Galp Energia SGPS SA Class B 259,997 4,365,441 
Jeronimo Martins SGPS SA 126,246 2,055,996 
TOTAL PORTUGAL  11,459,242 
Singapore - 1.3%   
Ascendas Real Estate Investment Trust 1,371,700 3,025,586 
CapitaCommercial Trust (REIT) 1,308,458 1,866,340 
CapitaLand Ltd. 1,329,900 3,451,619 
CapitaMall Trust 1,332,900 2,371,604 
City Developments Ltd. 213,500 1,403,345 
ComfortDelgro Corp. Ltd. 1,098,800 2,173,202 
DBS Group Holdings Ltd. 923,777 19,187,339 
Jardine Cycle & Carriage Ltd. 49,900 1,303,175 
Keppel Corp. Ltd. 760,100 3,783,455 
Oversea-Chinese Banking Corp. Ltd. 1,636,210 14,556,386 
Sembcorp Industries Ltd. 514,600 1,006,423 
Singapore Airlines Ltd. 276,600 1,968,596 
Singapore Airport Terminal Service Ltd. 359,000 1,380,465 
Singapore Exchange Ltd. 403,200 2,187,792 
Singapore Press Holdings Ltd. 859,000 1,585,244 
Singapore Technologies Engineering Ltd. 824,400 2,400,282 
Singapore Telecommunications Ltd. 4,185,000 9,754,025 
Suntec (REIT) 1,118,900 1,521,921 
United Overseas Bank Ltd. 688,672 14,091,421 
UOL Group Ltd. 271,091 1,510,823 
Venture Corp. Ltd. 142,000 1,771,737 
Wilmar International Ltd. 967,500 2,589,295 
Yangzijiang Shipbuilding Holdings Ltd. 1,260,600 1,455,144 
TOTAL SINGAPORE  96,345,219 
Spain - 3.0%   
ACS Actividades de Construccion y Servicios SA 130,488 6,000,648 
Aena Sme SA (c) 34,596 6,416,055 
Amadeus IT Holding SA Class A 225,341 17,924,496 
Banco Bilbao Vizcaya Argentaria SA 3,428,117 20,845,865 
Banco de Sabadell SA 2,912,850 3,384,666 
Banco Santander SA (Spain) 8,350,444 42,254,068 
Bankia SA 657,308 1,817,288 
Bankinter SA 346,933 2,769,757 
CaixaBank SA 1,839,625 5,863,795 
Enagas SA 117,882 3,358,298 
Endesa SA 164,529 4,098,538 
Ferrovial SA 252,048 6,208,027 
Gas Natural SDG SA 182,138 5,172,521 
Grifols SA 155,140 4,304,884 
Iberdrola SA 3,194,439 29,029,121 
Inditex SA 561,397 16,982,008 
MAPFRE SA (Reg.) 572,882 1,718,806 
Red Electrica Corporacion SA 225,607 4,682,217 
Repsol SA 710,780 12,061,009 
Siemens Gamesa Renewable Energy SA 126,924 2,276,304 
Telefonica SA 2,397,989 19,992,870 
TOTAL SPAIN  217,161,241 
Sweden - 2.5%   
Alfa Laval AB 151,903 3,525,922 
ASSA ABLOY AB (B Shares) 516,207 11,035,250 
Atlas Copco AB:   
(A Shares) 351,774 10,980,382 
(B Shares) 193,488 5,510,960 
Boliden AB 142,816 4,250,194 
Electrolux AB (B Shares) 124,712 3,056,482 
Epiroc AB:   
Class A 348,655 3,604,257 
Class B 188,905 1,869,360 
Essity AB Class B 311,999 9,251,056 
H&M Hennes & Mauritz AB (B Shares) 449,667 7,846,216 
Hexagon AB (B Shares) 135,078 7,379,613 
Husqvarna AB (B Shares) 217,903 1,989,539 
ICA Gruppen AB (b) 42,955 1,554,304 
Industrivarden AB (C Shares) 82,408 1,854,564 
Investor AB (B Shares) 235,246 11,219,285 
Kinnevik AB (B Shares) 125,153 3,647,129 
Lundbergfoeretagen AB 40,751 1,393,769 
Lundin Petroleum AB 96,395 3,139,221 
Sandvik AB 579,911 10,739,014 
Securitas AB (B Shares) 161,616 2,826,104 
Skandinaviska Enskilda Banken AB (A Shares) 833,386 7,956,838 
Skanska AB (B Shares) 176,306 3,070,225 
SKF AB (B Shares) 196,393 3,645,442 
Svenska Handelsbanken AB (A Shares) 784,034 8,564,080 
Swedbank AB (A Shares) 464,933 7,596,644 
Swedish Match Co. AB 91,425 4,457,847 
Tele2 AB (B Shares) 258,307 3,450,864 
Telefonaktiebolaget LM Ericsson (B Shares) 1,578,999 15,619,738 
TeliaSonera AB 1,430,934 6,096,535 
Volvo AB (B Shares) 806,344 12,922,819 
TOTAL SWEDEN  180,053,653 
Switzerland - 8.7%   
ABB Ltd. (Reg.) 946,148 19,461,054 
Adecco SA (Reg.) 80,863 4,644,097 
Alcon, Inc. (a) 223,359 12,862,953 
Baloise Holdings AG 25,337 4,341,568 
Barry Callebaut AG 1,153 2,111,485 
Clariant AG (Reg.) 99,098 2,036,520 
Coca-Cola HBC AG 105,273 3,762,735 
Compagnie Financiere Richemont SA Series A 268,320 19,614,821 
Credit Suisse Group AG 1,309,801 17,418,908 
Dufry AG 17,278 1,687,867 
Ems-Chemie Holding AG 4,166 2,522,618 
Galenica AG 23,496 3,071,463 
Geberit AG (Reg.) 18,978 7,958,486 
Givaudan SA 4,741 12,278,815 
Julius Baer Group Ltd. 116,801 5,642,061 
Kuehne & Nagel International AG 28,135 4,087,921 
Lafargeholcim Ltd. (Reg.) 249,216 12,811,163 
Lindt & Spruengli AG 52 3,944,845 
Lindt & Spruengli AG (participation certificate) 552 3,670,249 
Lonza Group AG 38,228 11,805,927 
Nestle SA (Reg. S) 1,578,033 151,929,308 
Novartis AG 1,116,796 91,510,375 
Pargesa Holding SA 18,570 1,461,616 
Partners Group Holding AG 8,888 6,695,548 
Roche Holding AG (participation certificate) 361,916 95,496,374 
Schindler Holding AG:   
(participation certificate) 22,567 4,867,978 
(Reg.) 8,598 1,826,004 
SGS SA (Reg.) 2,742 7,234,907 
Sika AG 65,257 9,990,767 
Sonova Holding AG Class B 28,444 5,736,535 
Straumann Holding AG 5,387 4,348,934 
Swatch Group AG (Bearer) 16,531 5,048,773 
Swatch Group AG (Bearer) (Reg.) 24,271 1,424,413 
Swiss Life Holding AG 17,499 8,227,853 
Swiss Prime Site AG 39,381 3,161,456 
Swiss Re Ltd. 156,808 15,090,625 
Swisscom AG 13,443 6,262,714 
Temenos Group AG 31,418 5,223,229 
UBS Group AG 1,980,193 26,556,099 
Zurich Insurance Group Ltd. 78,200 24,934,668 
TOTAL SWITZERLAND  632,763,732 
United Kingdom - 15.9%   
3i Group PLC 498,981 6,965,435 
Admiral Group PLC 102,275 2,939,400 
Anglo American PLC (United Kingdom) 541,285 13,985,427 
Antofagasta PLC 207,726 2,459,542 
Ashtead Group PLC 245,834 6,802,443 
Associated British Foods PLC 182,279 6,082,534 
AstraZeneca PLC (United Kingdom) 652,218 48,590,116 
Auto Trader Group PLC (c) 489,473 3,618,361 
Aviva PLC 2,002,617 11,246,954 
Babcock International Group PLC 130,354 892,403 
BAE Systems PLC 1,638,092 10,528,479 
Barclays PLC 8,808,411 18,902,906 
Barratt Developments PLC 526,972 4,135,398 
Berkeley Group Holdings PLC 62,263 3,049,532 
BHP Billiton PLC 1,085,976 25,634,002 
BP PLC 10,322,155 75,059,652 
British American Tobacco PLC (United Kingdom) 1,180,542 46,216,975 
British Land Co. PLC 475,320 3,681,715 
BT Group PLC 4,329,160 12,918,276 
Bunzl PLC 171,954 5,177,425 
Burberry Group PLC 210,630 5,539,923 
Carnival PLC 86,243 4,572,140 
Centrica PLC 2,944,921 4,093,935 
Coca-Cola European Partners PLC 109,770 5,882,574 
Compass Group PLC 815,974 18,566,558 
ConvaTec Group PLC (c) 732,987 1,324,282 
Croda International PLC 65,145 4,401,212 
Diageo PLC 1,250,185 52,704,942 
Direct Line Insurance Group PLC 713,966 3,066,752 
easyJet PLC 82,160 1,246,535 
Fresnillo PLC 118,263 1,154,762 
G4S PLC (United Kingdom) 812,582 2,290,870 
GlaxoSmithKline PLC 2,554,453 52,476,699 
Hammerson PLC 384,686 1,614,749 
Hargreaves Lansdown PLC 147,905 4,353,033 
HSBC Holdings PLC (United Kingdom) 10,315,680 89,880,140 
Imperial Tobacco Group PLC 489,766 15,557,632 
Informa PLC 635,266 6,453,134 
InterContinental Hotel Group PLC 89,723 5,812,500 
Intertek Group PLC 82,469 5,753,367 
Investec PLC 349,969 2,213,344 
ITV PLC 1,873,965 3,339,248 
J Sainsbury PLC 913,909 2,651,616 
John Wood Group PLC 346,370 2,125,091 
Johnson Matthey PLC 100,989 4,394,484 
Kingfisher PLC 1,109,485 3,825,713 
Land Securities Group PLC 377,726 4,546,280 
Legal & General Group PLC 3,071,844 11,143,814 
Lloyds Banking Group PLC 36,626,940 29,954,809 
London Stock Exchange Group PLC 161,091 10,561,658 
Marks & Spencer Group PLC 840,680 3,135,955 
Meggitt PLC 399,995 2,839,555 
Melrose Industries PLC 2,489,130 6,563,059 
Merlin Entertainments PLC (c) 371,227 1,772,701 
Micro Focus International PLC 180,590 4,563,313 
Mondi PLC 191,699 4,200,838 
National Grid PLC 1,746,917 19,046,189 
Next PLC 72,784 5,472,530 
NMC Health PLC 54,489 2,005,134 
Pearson PLC 406,932 4,408,250 
Persimmon PLC 163,193 4,758,290 
Prudential PLC 1,334,291 30,316,935 
Reckitt Benckiser Group PLC 345,834 27,980,195 
RELX PLC (London Stock Exchange) 1,013,127 23,238,459 
Rio Tinto PLC 594,733 34,696,169 
Rolls-Royce Holdings PLC 876,981 10,502,316 
Royal Bank of Scotland Group PLC 2,478,323 7,760,460 
Royal Dutch Shell PLC:   
Class A (United Kingdom) 2,320,888 73,946,789 
Class B (United Kingdom) 1,926,681 62,180,470 
Royal Mail PLC 479,923 1,582,072 
RSA Insurance Group PLC 534,491 3,777,611 
Sage Group PLC 566,393 5,357,634 
Schroders PLC 61,745 2,549,925 
Scottish & Southern Energy PLC 544,438 8,146,222 
Segro PLC 552,342 4,886,203 
Severn Trent PLC 122,750 3,258,944 
Smith & Nephew PLC 449,063 8,681,505 
Smiths Group PLC 205,881 4,087,438 
St. James's Place Capital PLC 273,002 3,992,480 
Standard Chartered PLC (United Kingdom) 1,440,530 13,149,158 
Standard Life PLC 1,270,537 4,620,760 
Taylor Wimpey PLC 1,671,406 3,953,637 
Tesco PLC 5,032,636 16,419,678 
The Weir Group PLC 126,277 2,732,619 
Unilever PLC 571,674 34,652,071 
United Utilities Group PLC 354,574 3,832,077 
Vodafone Group PLC 13,742,712 25,491,001 
Whitbread PLC (b) 93,433 5,433,914 
WM Morrison Supermarkets PLC 1,170,394 3,295,052 
TOTAL UNITED KINGDOM  1,159,676,379 
TOTAL COMMON STOCKS   
(Cost $6,691,372,539)  7,156,457,001 
Nonconvertible Preferred Stocks - 0.5%   
Germany - 0.5%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 29,854 2,203,263 
Fuchs Petrolub AG 37,129 1,614,950 
Henkel AG & Co. KGaA 93,194 9,432,461 
Porsche Automobil Holding SE (Germany) 79,789 5,546,743 
Sartorius AG (non-vtg.) 18,185 3,328,676 
Volkswagen AG 95,345 16,579,815 
TOTAL GERMANY  38,705,908 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 3,248,030 1,696,034 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC (C Shares) (a) 62,265,651 81,194 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $40,405,828)  40,483,136 
Money Market Funds - 0.7%   
Fidelity Cash Central Fund, 2.49% (d) 22,339,616 22,344,084 
Fidelity Securities Lending Cash Central Fund 2.49% (d)(e) 28,030,255 28,033,058 
TOTAL MONEY MARKET FUNDS   
(Cost $50,377,142)  50,377,142 
TOTAL INVESTMENT IN SECURITIES - 99.5%   
(Cost $6,782,155,509)  7,247,317,279 
NET OTHER ASSETS (LIABILITIES) - 0.5%  33,370,853 
NET ASSETS - 100%  $7,280,688,132 

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) 877 June 2019 $84,060,450 $2,343,308 $2,343,308 

The notional amount of futures purchased as a percentage of Net Assets is 1.2%

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 $59,040,204 or 0.8% of net assets.

 (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 $381,916 
Fidelity Securities Lending Cash Central Fund 438,802 
Total $820,718 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $391,097,014 $106,115,324 $284,981,690 $-- 
Consumer Discretionary 813,296,198 510,565,790 302,730,408 -- 
Consumer Staples 835,516,871 340,718,290 494,798,581 -- 
Energy 411,562,007 90,501,602 321,060,405 -- 
Financials 1,401,751,583 688,356,162 713,395,421 -- 
Health Care 770,928,587 294,906,573 476,022,014 -- 
Industrials 1,054,122,868 697,760,322 356,362,546 -- 
Information Technology 471,262,384 319,354,177 151,908,207 -- 
Materials 533,110,124 287,146,548 245,963,576 -- 
Real Estate 262,491,005 262,491,005 -- -- 
Utilities 251,801,496 155,923,405 95,878,091 -- 
Money Market Funds 50,377,142 50,377,142 -- -- 
Total Investments in Securities: $7,247,317,279 $3,804,216,340 $3,443,100,939 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $2,343,308 $2,343,308 $-- $-- 
Total Assets $2,343,308 $2,343,308 $-- $-- 
Total Derivative Instruments: $2,343,308 $2,343,308 $-- $-- 

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, 2019. 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) $2,343,308 $0 
Total Equity Risk 2,343,308 0 
Total Value of Derivatives $2,343,308 $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 distributable earnings.

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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $26,229,310) — See accompanying schedule:
Unaffiliated issuers (cost $6,731,778,367) 		$7,196,940,137  
Fidelity Central Funds (cost $50,377,142) 50,377,142  
Total Investment in Securities (cost $6,782,155,509)  $7,247,317,279 
Segregated cash with brokers for derivative instruments  3,924,000 
Foreign currency held at value (cost $13,499,008)  13,476,298 
Receivable for investments sold  585 
Receivable for fund shares sold  3,478,903 
Dividends receivable  46,169,915 
Distributions receivable from Fidelity Central Funds  185,869 
Receivable for daily variation margin on futures contracts  12,977 
Receivable from investment adviser for expense reductions  482,665 
Total assets  7,315,048,491 
Liabilities   
Payable for fund shares redeemed 5,573,288  
Accrued management fee 301,414  
Other affiliated payables 452,128  
Collateral on securities loaned 28,033,529  
Total liabilities  34,360,359 
Net Assets  $7,280,688,132 
Net Assets consist of:   
Paid in capital  $6,932,226,580 
Total distributable earnings (loss)  348,461,552 
Net Assets, for 616,313,875 shares outstanding  $7,280,688,132 
Net Asset Value, offering price and redemption price per share ($7,280,688,132 ÷ 616,313,875 shares)  $11.81 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $129,969,913 
Interest  680 
Income from Fidelity Central Funds  820,718 
Income before foreign taxes withheld  130,791,311 
Less foreign taxes withheld  (9,589,600) 
Total income  121,201,711 
Expenses   
Management fee $1,834,007  
Transfer agent fees 2,751,011  
Independent trustees' fees and expenses 16,881  
Interest 35,035  
Commitment fees 10,720  
Total expenses before reductions 4,647,654  
Expense reductions (2,933,056)  
Total expenses after reductions  1,714,598 
Net investment income (loss)  119,487,113 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (180,051,151)  
Fidelity Central Funds (1,038)  
Foreign currency transactions (1,139,786)  
Futures contracts (4,033,564)  
Total net realized gain (loss)  (185,225,539) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 587,994,757  
Assets and liabilities in foreign currencies 664,182  
Futures contracts 7,999,829  
Total change in net unrealized appreciation (depreciation)  596,658,768 
Net gain (loss)  411,433,229 
Net increase (decrease) in net assets resulting from operations  $530,920,342 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $119,487,113 $232,870,854 
Net realized gain (loss) (185,225,539) (11,015,510) 
Change in net unrealized appreciation (depreciation) 596,658,768 (836,442,925) 
Net increase (decrease) in net assets resulting from operations 530,920,342 (614,587,581) 
Distributions to shareholders (216,059,751) (154,716,977) 
Share transactions   
Proceeds from sales of shares 646,518,062 4,661,162,350 
Reinvestment of distributions 90,028,249 63,596,711 
Cost of shares redeemed (1,655,213,667) (2,436,826,674) 
Net increase (decrease) in net assets resulting from share transactions (918,667,356) 2,287,932,387 
Total increase (decrease) in net assets (603,806,765) 1,518,627,829 
Net Assets   
Beginning of period 7,884,494,897 6,365,867,068 
End of period $7,280,688,132 $7,884,494,897 
Other Information   
Shares   
Sold 58,790,012 377,997,451 
Issued in reinvestment of distributions 8,501,251 5,217,121 
Redeemed (150,382,928) (196,982,550) 
Net increase (decrease) (83,091,665) 186,232,022 

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,   
 2019 2018 2017 2016 A 
Selected Per–Share Data     
Net asset value, beginning of period $11.27 $12.40 $10.19 $10.00 
Income from Investment Operations     
Net investment income (loss)B .18 .37 .33 .25 
Net realized and unrealized gain (loss) .67 (1.24) 2.02 (.06) 
Total from investment operations .85 (.87) 2.35 .19 
Distributions from net investment income (.31) (.20) (.12) – 
Distributions from net realized gain – (.06) (.03) – 
Total distributions (.31) (.26) (.14)C – 
Net asset value, end of period $11.81 $11.27 $12.40 $10.19 
Total ReturnD,E 7.89% (7.14)% 23.41% 1.90% 
Ratios to Average Net AssetsF,G     
Expenses before reductions .13%H .13% .12% .21%H 
Expenses net of fee waivers, if any .05%H .05% .05% .07%H 
Expenses net of all reductions .05%H .05% .05% .07%H 
Net investment income (loss) 3.26%H 2.98% 2.89% 3.02%H 
Supplemental Data     
Net assets, end of period (000 omitted) $7,280,688 $7,884,495 $6,365,867 $1,623,150 
Portfolio turnover rateI 3%H 7% 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, 2019

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. 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. 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, 2019 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 $979,942,418 
Gross unrealized depreciation (520,776,315) 
Net unrealized appreciation (depreciation) $459,166,103 
Tax cost $6,790,494,484 

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 $117,472,676 and $1,062,352,383, 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 $31,178,812 2.53% $35,035 

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 $10,720 and is reflected in Commitment fees 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. 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 $438,802. During the period, there were no securities loaned to FCM.

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 February 29, 2020. 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 $2,933,047.

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.

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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Actual .05% $1,000.00 $1,078.90 $.26 
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

SV7-SANN-0619
1.9870291.103

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, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Cayman Islands 17.1% 
   Korea (South) 12.7% 
   Taiwan 11.2% 
   China 10.9% 
   India 9.0% 
   Brazil 7.0% 
   South Africa 6.0% 
   Russia 3.7% 
   Hong Kong 3.5% 
   Other* 18.9% 


 * 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, 2019

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 5.1 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail) 4.4 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 3.8 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 3.5 
Naspers Ltd. Class N (South Africa, Internet & Direct Marketing Retail) 2.1 
China Construction Bank Corp. (H Shares) (China, Banks) 1.6 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) (China, Insurance) 1.2 
China Mobile Ltd. (Hong Kong, Wireless Telecommunication Services) 1.1 
Reliance Industries Ltd. (India, Oil, Gas & Consumable Fuels) 1.0 
Industrial & Commercial Bank of China Ltd. (H Shares) (China, Banks) 1.0 
 24.8 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 24.6 
Information Technology 14.6 
Consumer Discretionary 14.5 
Communication Services 12.0 
Energy 8.0 
Materials 6.9 
Consumer Staples 6.1 
Industrials 4.5 
Real Estate 2.6 
Health Care 2.4 

Asset Allocation as of April 30, 2019

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

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.0%   
 Shares Value 
Bailiwick of Jersey - 0.0%   
Polymetal International PLC 128,628 $1,349,618 
Bermuda - 1.0%   
Alibaba Health Information Technology Ltd. (a) 2,476,000 2,960,545 
Alibaba Pictures Group Ltd. (a)(b) 9,910,000 2,223,333 
Beijing Enterprises Water Group Ltd. 3,998,000 2,481,932 
Brilliance China Automotive Holdings Ltd. 2,146,000 2,360,797 
China Gas Holdings Ltd. 1,250,000 4,023,366 
China Oriental Group Co. Ltd. (H Shares) 807,000 494,808 
China Resource Gas Group Ltd. 624,000 2,887,416 
Cosco Shipping Ports Ltd. 1,084,752 1,081,323 
Credicorp Ltd. (United States) 47,386 11,225,743 
GOME Electrical Appliances Holdings Ltd. (a) 8,070,000 925,836 
Haier Electronics Group Co. Ltd. 891,000 2,549,836 
HengTen Networks Group Ltd. (a) 15,928,000 456,838 
Kunlun Energy Co. Ltd. 2,292,000 2,419,152 
Luye Pharma Group Ltd. (b)(c) 821,500 743,505 
Nine Dragons Paper (Holdings) Ltd. 1,070,000 988,872 
Shenzhen International Holdings Ltd. 577,500 1,245,577 
Sihuan Pharmaceutical Holdings Group Ltd. 2,788,000 749,883 
TOTAL BERMUDA  39,818,762 
Brazil - 4.4%   
Ambev SA 3,343,798 15,750,669 
Atacadao Distribuicao Comercio e Industria Ltda 266,500 1,440,871 
B2W Companhia Global do Varejo (a) 130,200 1,270,090 
Banco Bradesco SA 763,506 6,036,236 
Banco do Brasil SA 609,405 7,721,109 
Banco Santander SA (Brasil) unit 291,100 3,341,514 
BB Seguridade Participacoes SA 491,458 3,542,017 
BM&F BOVESPA SA 1,461,880 12,843,785 
BR Malls Participacoes SA 598,516 1,877,470 
Brasil Foods SA (a) 377,869 2,992,230 
CCR SA 867,612 2,586,617 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 143,500 1,196,718 
Cielo SA 870,031 1,704,072 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 242,200 2,903,114 
Companhia Siderurgica Nacional SA (CSN) 403,100 1,494,752 
Cosan SA Industria e Comercio 118,700 1,418,854 
Drogasil SA 160,100 2,823,012 
Embraer SA 460,500 2,306,552 
ENGIE Brasil Energia SA 148,920 1,689,692 
Equatorial Energia SA 120,800 2,529,311 
Hypermarcas SA 250,900 1,796,759 
IRB Brasil Resseguros SA 99,200 2,375,578 
JBS SA 679,400 3,425,503 
Klabin SA unit 504,000 2,133,687 
Kroton Educacional SA 1,000,682 2,488,243 
Localiza Rent A Car SA 409,220 3,777,961 
Lojas Renner SA 497,540 5,948,503 
M. Dias Branco SA 72,600 770,048 
Magazine Luiza SA 54,200 2,643,720 
Multiplan Empreendimentos Imobiliarios SA 164,419 1,004,687 
Natura Cosmeticos SA 138,900 1,850,536 
Petrobras Distribuidora SA 248,700 1,503,198 
Petroleo Brasileiro SA - Petrobras (ON) 2,200,565 16,813,886 
Porto Seguro SA 70,200 968,918 
Rumo SA (a) 750,600 3,464,808 
Sul America SA unit 138,352 1,100,860 
Suzano Papel e Celulose SA 386,619 4,015,963 
TIM Participacoes SA 607,300 1,810,547 
Ultrapar Participacoes SA 506,738 2,713,906 
Vale SA 2,242,506 28,652,559 
Vale SA sponsored ADR 3,842 49,101 
Weg SA 588,740 2,789,725 
TOTAL BRAZIL  169,567,381 
Cayman Islands - 17.1%   
3SBio, Inc. (c) 846,500 1,564,635 
51job, Inc. sponsored ADR (a)(b) 16,798 1,551,127 
58.com, Inc. ADR (a) 65,811 4,724,572 
AAC Technology Holdings, Inc. 507,433 3,296,367 
Agile Property Holdings Ltd. 1,128,000 1,705,344 
Airtac International Group 81,000 1,079,930 
Alibaba Group Holding Ltd. sponsored ADR (a) 917,029 170,173,072 
Anta Sports Products Ltd. 749,000 5,279,892 
Autohome, Inc. ADR Class A (a)(b) 41,427 4,784,404 
Baidu.com, Inc. sponsored ADR (a) 196,752 32,706,085 
Baozun, Inc. sponsored ADR (a)(b) 26,055 1,263,668 
Car, Inc. (a) 551,000 446,009 
Chailease Holding Co. Ltd. 830,060 3,532,227 
China Conch Venture Holdings Ltd. 1,119,000 3,780,020 
China First Capital Group Ltd. (a) 2,200,000 925,454 
China Hongqiao Group Ltd. 1,546,000 1,273,093 
China Huishan Dairy Holdings Co. Ltd. (a)(d) 2,302,000 61,623 
China Investment Fund International Holdings Co. Ltd. (d) 660,000 1,943,453 
China Literature Ltd. (a)(b)(c) 149,400 677,983 
China Medical System Holdings Ltd. 974,000 862,903 
China Mengniu Dairy Co. Ltd. 1,923,000 7,108,785 
China Resources Cement Holdings Ltd. 1,738,000 1,739,152 
China Resources Land Ltd. 1,954,812 8,509,692 
China State Construction International Holdings Ltd. 1,364,500 1,414,107 
China Zhongwang Holdings Ltd. 1,160,800 633,314 
CIFI Holdings Group Co. Ltd. 2,324,000 1,543,448 
Country Garden Holdings Co. Ltd. 5,352,000 8,623,455 
Country Garden Services Holdings Co. Ltd. 757,000 1,399,207 
Ctrip.com International Ltd. ADR (a) 289,672 12,760,052 
Dali Foods Group Co. Ltd. (c) 1,276,000 907,618 
ENN Energy Holdings Ltd. 555,243 5,244,685 
Evergrande Real Estate Group Ltd. (b) 1,850,000 5,930,999 
Fullshare Holdings Ltd. 5,027,500 563,966 
Future Land Development Holding Ltd. 1,252,000 1,492,224 
GDS Holdings Ltd. ADR (a)(b) 40,719 1,593,334 
Geely Automobile Holdings Ltd. 3,481,517 6,985,401 
Genscript Biotech Corp. (a) 626,000 1,595,962 
Greentown China Holdings Ltd. 642,500 581,500 
Greentown Service Group Co. Ltd. 686,000 592,013 
Haitian International Holdings Ltd. 409,000 1,023,960 
Hengan International Group Co. Ltd. 503,000 4,433,822 
Huazhu Group Ltd. ADR (b) 91,475 3,878,540 
Hutchison China Meditech Ltd. sponsored ADR (a)(b) 36,447 1,096,326 
iQIYI, Inc. ADR (a)(b) 82,906 1,833,052 
JD.com, Inc. sponsored ADR (a) 516,584 15,636,998 
Jiayuan International Group Ltd. 697,224 311,959 
Kaisa Group Holdings Ltd. 1,562,000 663,046 
Kingboard Chemical Holdings Ltd. 494,000 1,608,926 
Kingboard Laminates Holdings Ltd. 769,500 807,284 
Kingdee International Software Group Co. Ltd. 1,635,000 2,000,816 
Kingsoft Corp. Ltd. 584,000 1,492,607 
KWG Property Holding Ltd. 900,000 1,053,182 
Lee & Man Paper Manufacturing Ltd. 1,089,000 882,883 
Lijun International Pharmaceutical Holding Ltd. 1,076,000 1,016,362 
Logan Property Holdings Co. Ltd. 880,000 1,402,203 
Longfor Properties Co. Ltd. 1,028,500 3,788,962 
Meitu, Inc. (a)(c) 1,204,500 442,199 
Meituan Dianping Class B 220,600 1,602,871 
Momo, Inc. ADR 101,584 3,562,551 
NetEase, Inc. ADR 54,937 15,631,225 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 100,561 9,599,553 
Nexteer Auto Group Ltd. 624,000 976,790 
Noah Holdings Ltd. sponsored ADR (a)(b) 20,107 1,092,614 
Pinduoduo, Inc. ADR (b) 132,425 2,943,808 
Semiconductor Manufacturing International Corp. (a)(b) 2,150,900 2,302,989 
Shenzhou International Group Holdings Ltd. 523,000 7,020,179 
Shimao Property Holdings Ltd. 820,500 2,499,739 
Shui On Land Ltd. 2,541,500 618,788 
SINA Corp. (a) 45,502 2,863,896 
Sino Biopharmaceutical Ltd. 4,883,500 4,693,758 
SOHO China Ltd. 1,491,000 539,777 
Sunac China Holdings Ltd. 1,709,000 8,812,086 
Sunny Optical Technology Group Co. Ltd. 502,800 6,130,535 
TAL Education Group ADR (a) 251,451 9,673,320 
Tencent Holdings Ltd. 4,041,900 199,215,797 
Tencent Music Entertainment Group ADR (a)(b) 55,685 957,782 
Tingyi (Cayman Islands) Holding Corp. 1,388,000 2,282,429 
Towngas China Co. Ltd. 678,414 539,632 
Uni-President China Holdings Ltd. 907,000 830,137 
Vipshop Holdings Ltd. ADR (a) 307,246 2,645,388 
Want Want China Holdings Ltd. 3,503,418 2,777,797 
Weibo Corp. sponsored ADR (a)(b) 38,647 2,647,320 
Wuxi Biologics (Cayman), Inc. (a)(c) 345,000 3,469,878 
Xiaomi Corp. Class B (b)(c) 2,279,800 3,493,167 
Xinyi Solar Holdings Ltd. 2,103,176 1,198,399 
Yihai International Holding Ltd. 331,000 1,632,891 
Yuzhou Properties Co. 1,152,343 608,135 
YY, Inc. ADR (a) 34,552 2,923,445 
Zhen Ding Technology Holding Ltd. 285,000 1,019,109 
Zhongsheng Group Holdings Ltd. Class H 403,500 1,059,568 
ZTO Express (Cayman), Inc. sponsored ADR (b) 213,438 4,253,819 
TOTAL CAYMAN ISLANDS  666,343,074 
Chile - 0.9%   
Aguas Andinas SA 1,905,025 1,096,915 
Banco de Chile (a) 18,332,260 2,689,616 
Banco de Credito e Inversiones (a) 33,647 2,240,285 
Banco Santander Chile 46,864,426 3,293,587 
Cencosud SA 1,033,615 1,961,015 
Colbun SA (a) 5,201,280 1,162,666 
Compania Cervecerias Unidas SA 107,061 1,479,538 
Compania de Petroleos de Chile SA (COPEC) 274,565 3,445,744 
CorpBanca SA 105,799,584 945,058 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 109,782 1,149,656 
Empresas CMPC SA 877,005 2,952,009 
Enel Chile SA 20,263,976 2,041,955 
Enersis SA 20,114,497 3,529,615 
LATAM Airlines Group SA 217,134 2,153,387 
S.A.C.I. Falabella 511,511 3,776,028 
TOTAL CHILE  33,917,074 
China - 10.9%   
Agricultural Bank of China Ltd. (H Shares) 21,489,297 9,916,283 
Air China Ltd. (H Shares) 1,234,000 1,470,770 
Aisino Co. Ltd. (A Shares) 27,100 102,527 
Aluminum Corp. of China Ltd.:   
(A shares) (a) 120,200 74,423 
(H Shares) (a) 2,206,000 863,301 
Angang Steel Co. Ltd. (H Shares) 822,000 552,205 
Anhui Conch Cement Co. Ltd. (H Shares) 897,000 5,471,325 
Anxin Trust Co. Ltd. (A Shares) 91,000 74,855 
AVIC Aircraft Co. Ltd. (A Shares) 39,400 93,134 
AVIC Aviation Engine Corp. PLC (A Shares) 33,600 121,281 
AVIC Capital Co. Ltd. (A Shares) 175,700 150,789 
AVIC Shenyang Aircraft Co. Ltd. (A Shares) (a) 13,300 60,626 
AviChina Industry & Technology Co. Ltd. (H Shares) 1,475,000 866,784 
Baic Motor Corp. Ltd. (H Shares) (c) 1,253,500 878,831 
Bank Communications Co. Ltd. (H Shares) 6,538,176 5,509,043 
Bank of Beijing Co. Ltd. (A Shares) 565,325 534,695 
Bank of China Ltd. (H Shares) 56,685,464 27,024,734 
Bank of Guiyang Co. Ltd. (A Shares) 71,700 146,489 
Bank of Hangzhou Co. Ltd. (A Shares) 145,200 191,447 
Bank of Jiangsu Co. Ltd. (A Shares) 115,203 125,553 
Bank of Nanjing Co. Ltd. (A Shares) 168,700 217,172 
Bank of Ningbo Co. Ltd. (A Shares) 82,200 279,496 
Bank of Shanghai Co. Ltd. (A Shares) 83,685 157,432 
Baoshan Iron & Steel Co. Ltd. (A Shares) 263,100 280,097 
BBMG Corp. (H Shares) 1,838,000 646,655 
Beijing Capital Co. Ltd. (A Shares) 180,900 105,023 
Beijing Capital International Airport Co. Ltd. (H Shares) 1,130,000 1,005,430 
Beijing Dabeinong Technology Group Co. Ltd. (A Shares) 92,200 104,454 
Beijing Shiji Information Technology Co. Ltd. (A Shares) 12,900 59,645 
Beijing Tongrentang Co. Ltd. (A Shares) 22,200 102,745 
BOE Technology Group Co. Ltd. (A Shares) 474,500 253,634 
BYD Co. Ltd. (H Shares) (b) 469,500 3,195,913 
CGN Power Co. Ltd. (H Shares) (c) 7,312,447 1,929,529 
China Avionics Systems Co. Ltd. (A Shares) 22,400 50,887 
China Cinda Asset Management Co. Ltd. (H Shares) 5,945,000 1,583,858 
China CITIC Bank Corp. Ltd. (H Shares) 6,291,051 4,033,753 
China Coal Energy Co. Ltd. (H Shares) 1,470,000 648,353 
China Communications Construction Co. Ltd. (H Shares) 3,149,000 3,030,664 
China Communications Services Corp. Ltd. (H Shares) 1,690,000 1,361,513 
China Construction Bank Corp. (H Shares) 68,103,000 60,037,271 
China Eastern Airlines Corp. Ltd. (H Shares) 1,096,000 778,187 
China Everbright Bank Co. Ltd. (H Shares) 2,194,000 1,082,345 
China Film Co. Ltd. (A Shares) 40,400 108,215 
China Fortune Land Development Co. Ltd. (A Shares) 43,900 204,805 
China Galaxy Securities Co. Ltd. (H Shares) 2,478,000 1,620,454 
China Gezhouba Group Co. Ltd. (A Shares) 87,200 88,172 
China Grand Automotive Services Co. Ltd. (A Shares) 83,100 61,077 
China Huarong Asset Management Co. Ltd. (c) 6,728,000 1,440,832 
China International Capital Corp. Ltd. (H Shares) (c) 729,200 1,565,333 
China International Travel Service Corp. Ltd. (A Shares) 26,200 301,450 
China Life Insurance Co. Ltd. (H Shares) 5,269,747 14,974,567 
China Longyuan Power Grid Corp. Ltd. (H Shares) 2,243,000 1,543,978 
China Merchants Bank Co. Ltd. (H Shares) 2,971,421 14,705,582 
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares) 96,100 313,917 
China Minsheng Banking Corp. Ltd. (H Shares) 4,795,861 3,600,808 
China Molybdenum Co. Ltd. (H Shares) 2,700,000 1,015,322 
China National Building Materials Co. Ltd. (H Shares) 2,768,000 2,572,241 
China National Chemical Engineering Co. Ltd. (A Shares) 99,408 91,660 
China National Nuclear Power Co. Ltd. (A Shares) 229,800 202,336 
China Northern Rare Earth Group High-Tech Co. Ltd. 74,400 113,452 
China Oilfield Services Ltd. (H Shares) 1,158,000 1,239,955 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 1,935,528 7,932,290 
China Petroleum & Chemical Corp. (H Shares) 18,346,704 14,103,287 
China Railway Construction Corp. Ltd. (H Shares) 1,536,000 1,813,094 
China Railway Group Ltd. (H Shares) 2,655,000 2,091,564 
China Railway Signal & Communications Corp. (H Shares) (c) 1,030,000 756,272 
China Reinsurance Group Corp. (H Shares) 3,927,000 800,938 
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. (A Shares) 22,900 100,306 
China Shenhua Energy Co. Ltd.:   
(A Shares) 385,485 1,126,995 
(H Shares) 1,992,602 4,404,410 
China Shipbuilding Industry Group Power Co. Ltd. 24,600 86,932 
China Shipping Development Co. Ltd. (H Shares) 882,000 570,026 
China South Publishing & Media Group Co. Ltd. (A Shares) 37,600 69,730 
China Southern Airlines Ltd. (H Shares) 1,454,000 1,267,765 
China Spacesat Co. Ltd. (A Shares) 24,600 84,229 
China State Construction Engineering Corp. Ltd. (A Shares) 602,640 548,513 
China Telecom Corp. Ltd. (H Shares) 9,779,689 5,061,383 
China Tower Corp. Ltd. (H Shares) (c) 28,038,000 7,577,065 
China United Network Communications Ltd. (A Shares) 427,000 422,885 
China Vanke Co. Ltd. (H Shares) 964,700 3,732,236 
China Yangtze Power Co. Ltd. (A Shares) 62,900 157,556 
Chinese Universe Publishing and Media Group Co. Ltd. (A Shares) 32,200 67,700 
Chongqing Changan Automobile Co. Ltd. (B Shares) 119,300 62,503 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 1,766,646 1,031,414 
CITIC Guoan Information Industry Co. Ltd. (A Shares) 69,100 47,914 
CITIC Securities Co. Ltd. (H Shares) 1,735,000 3,750,969 
COSCO SHIPPING Holdings Co. Ltd. (H Shares) (a) 1,899,500 883,792 
CRRC Corp. Ltd. (H Shares) 3,177,000 2,774,124 
Daqin Railway Co. Ltd. (A Shares) 226,100 286,028 
Datang International Power Generation Co. Ltd. (H Shares) 616,000 159,402 
DHC Software Co. Ltd. (A Shares) 49,400 57,726 
Dong E-E-Jiao Co. Ltd. (A Shares) 13,500 87,776 
Dongfeng Motor Group Co. Ltd. (H Shares) 1,910,000 1,852,832 
Dongxing Securities Co. Ltd. (A Shares) 43,500 85,580 
Everbright Securities Co. Ltd. (A Shares) 85,458 157,849 
Fangda Carbon New Material Co. Ltd. (A Shares) 26,600 82,862 
Financial Street Holdings Co. Ltd. (A Shares) 149,800 183,055 
First Capital Securities Co. Ltd. (A Shares) 86,000 89,896 
Focus Media Information Technology Co. Ltd. (A Shares) 166,740 151,021 
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares) 31,100 412,272 
Founder Securities Co. Ltd. (A Shares) 148,300 153,697 
Future Land Holdings Co. Ltd. (A Shares) 32,300 190,014 
Fuyao Glass Industries Group Co. Ltd. (H Shares) (c) 332,000 1,165,944 
GD Power Development Co. Ltd. (A Shares) 424,700 170,891 
Gemdale Corp. (A Shares) 113,400 204,241 
GF Securities Co. Ltd. (H Shares) 1,093,628 1,477,725 
Giant Network Group Co. Ltd. (A Shares) 19,900 56,643 
GoerTek, Inc. (A Shares) 56,100 88,795 
Great Wall Motor Co. Ltd. (H Shares) (b) 2,184,000 1,773,414 
Gree Electric Appliances, Inc. of Zhuhai (A Shares) 44,000 363,112 
Greenland Holdings Corp. Ltd. (A Shares) 183,000 202,974 
Guangshen Railway Co. Ltd. (A Shares) 170,024 86,339 
Guangzhou Automobile Group Co. Ltd. (H Shares) 2,079,200 2,234,302 
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. (A Shares) 20,000 135,087 
Guangzhou Haige Communications Group (A Shares) 38,400 52,911 
Guangzhou R&F Properties Co. Ltd. (H Shares) 681,600 1,353,677 
Guotai Junan Securities Co. Ltd.:   
(A Shares) 33,700 94,221 
(H Shares) (c) 384,800 822,105 
Guoyuan Securities Co. Ltd. (A Shares) 98,900 143,910 
Haitong Securities Co. Ltd.:   
rights (a)(d) 86,157 24,601 
(H Shares) 2,412,400 3,105,910 
Han's Laser Technology Industry Group Co. Ltd. (A Shares) 16,800 97,534 
Hangzhou Hikvision Digital Technology Co. Ltd. (A Shares) 120,400 584,221 
Hangzhou Robam Appliances Co. Ltd. (A Shares) 15,500 67,156 
Heilan Home Co. Ltd. (A Shares) 42,300 56,966 
Henan Shuanghui Investment & Development Co. Ltd. (A Shares) 41,500 171,487 
Hengli Petrochemical Co. Ltd. (A Shares) 41,400 109,295 
Hengtong Optic-electric Co. Ltd. (A Shares) 28,908 86,189 
Hesteel Co. Ltd. (A Shares) 270,400 128,477 
Huaan Securities Co. Ltd. (A Shares) 76,493 75,756 
Huadian Power International Corp. Ltd. (H Shares) 1,268,000 541,480 
Huadong Medicine Co. Ltd. (A Shares) 21,750 112,708 
Huaneng Power International, Inc. (H Shares) 3,066,186 1,962,096 
Huaneng Renewables Corp. Ltd. (H Shares) 3,048,000 878,095 
Huatai Securities Co. Ltd. (H Shares) (c) 1,266,200 2,382,357 
Huaxia Bank Co. Ltd. (A Shares) 418,958 498,900 
Huayu Automotive Systems Co. Ltd. (A Shares) 48,300 168,748 
Hubei Biocause Pharmaceutical Co. Ltd. (A Shares) 115,700 118,880 
Hubei Energy Group Co. Ltd. (A Shares) 442,500 263,467 
Hundsun Technologies, Inc. (A Shares) 9,200 113,448 
iFlytek Co. Ltd. (A Shares) 29,600 142,003 
Industrial & Commercial Bank of China Ltd. (H Shares) 49,678,000 37,299,029 
Industrial Bank Co. Ltd. (A Shares) 161,500 477,673 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 79,700 366,850 
Inner Mongolia Baotou Steel Union Co. Ltd. (A Shares) 576,500 145,518 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 811,729 971,640 
Jiangsu Expressway Co. Ltd. (H Shares) 846,000 1,203,518 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 56,760 554,124 
Jiangsu Yanghe Brewery JSC Ltd. (A Shares) 20,000 349,404 
Jiangxi Copper Co. Ltd.:   
(A Shares) 24,200 55,084 
(H Shares) 651,000 863,043 
Jiangxi Ganfeng Lithium Co. Ltd. 16,000 58,537 
Jinduicheng Molybdenum Co. Ltd. (A Shares) 93,600 92,420 
Jinke Properties Group Co. Ltd. (A Shares) 126,800 143,276 
Jointown Pharmaceutical Group (A Shares) 38,400 89,516 
Kangmei Pharmaceutical Co. Ltd. (A Shares) 72,200 102,271 
Kweichow Moutai Co. Ltd. (A Shares) 17,700 2,559,771 
Legend Holdings Corp. (H Shares) (c) 212,300 577,785 
Liaoning Chengda Co. Ltd. (A Shares) 36,800 77,371 
LONGi Green Energy Technology Co. Ltd. 49,920 168,256 
Luxshare Precision Industry Co. Ltd. (A Shares) 57,380 222,282 
Luzhou Laojiao Co. Ltd. (A Shares) 22,000 254,400 
Maanshan Iron & Steel Co. Ltd.:   
(A Shares) 128,600 66,449 
(H Shares) 1,165,000 536,107 
Meinian Onehealth Healthcare Holdings Co. Ltd. (A Shares) 45,440 103,296 
Metallurgical Corp. China Ltd. (H Shares) 2,248,000 621,834 
Midea Group Co. Ltd. (A Shares) 81,900 637,212 
Muyuan Foodstuff Co. Ltd. (A Shares) 25,560 243,270 
NARI Technology Co. Ltd. (A Shares) 78,500 232,298 
New China Life Insurance Co. Ltd. (H Shares) 613,300 3,396,885 
O-film Tech Co. Ltd. (A Shares) (d) 40,000 71,686 
Offshore Oil Enginering Co. Ltd. (A Shares) 70,900 60,321 
Orient Securities Co. Ltd. (A Shares) 107,618 178,487 
People's Insurance Co. of China Group (H Shares) 5,853,552 2,395,205 
Perfect World Co. Ltd. (A Shares) 13,600 57,066 
PetroChina Co. Ltd. (H Shares) 15,226,790 9,652,167 
PICC Property & Casualty Co. Ltd. (H Shares) 4,878,568 5,478,812 
Ping An Bank Co. Ltd. (A Shares) 242,300 498,278 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 3,798,541 45,980,068 
Poly Developments & Holdings (A Shares) 161,000 322,483 
Postal Savings Bank of China Co. Ltd. (H Shares) (c) 4,935,000 3,000,707 
Power Construction Corp. of China Ltd. (A Shares) 214,500 170,074 
Qingdao Haier Co. Ltd. (A Shares) 92,600 236,213 
Risesun Real Estate Development Co. Ltd. (A Shares) 81,100 124,632 
Rongsheng Petrochemical Co. Ltd. (A Shares) 59,500 116,705 
SAIC Motor Corp. Ltd. (A Shares) 38,800 157,737 
Sanan Optoelectronics Co. Ltd. (A Shares) 57,200 110,920 
Sany Heavy Industry Co. Ltd. (A Shares) 128,600 233,908 
SDIC Power Holdings Co. Ltd. (A Shares) 125,200 150,391 
Shaanxi Coal Industry Co. Ltd. (A Shares) 113,700 152,278 
Shandong Buchang Pharmaceuticals Co. Ltd. (A Shares) 15,760 74,671 
Shandong Gold Mining Co. Ltd. (A Shares) 27,600 119,540 
Shandong Linglong Tyre Co. Ltd. (A Shares) 22,700 57,905 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 1,460,000 1,433,051 
Shanghai 2345 Network Holding Group Co. Ltd. (A Shares) 74,230 61,611 
Shanghai Construction Group Co. Ltd. (A Shares) 121,300 68,801 
Shanghai Electric Group Co. Ltd. (H Shares) 2,018,000 787,156 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 378,500 1,300,298 
Shanghai International Airport Co. Ltd. (A Shares) 15,400 161,502 
Shanghai International Port Group Co. Ltd. (A Shares) 185,843 222,684 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 674,458 1,021,129 
Shanghai Pharmaceuticals Holding Co. Ltd. (H Shares) 587,409 1,229,509 
Shanghai Pudong Development Bank Co. Ltd. (A Shares) 247,909 440,611 
Shanghai Tunnel Engineering Co. Ltd. 100,000 102,451 
Shanghaioriental Pearl Media Co. Ltd. 64,670 108,985 
Shanxi Lu'an Environmental Energy Development Co. Ltd. (A Shares) 53,500 65,535 
Shanxi Securities Co. Ltd. (A Shares) 73,400 94,708 
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (A Shares) 13,100 111,707 
Shanxi Xishan Coal & Electricity Power Co. Ltd. (A Shares) 57,900 59,147 
Shenergy Co. Ltd. (A Shares) 224,300 186,503 
Shenzhen Energy Group Co. Ltd. (A Shares) 126,800 113,529 
Shenzhen Overseas Chinese Town Co. Ltd. (A Shares) 176,100 207,872 
Shenzhen Salubris Pharmaceuticals Co. Ltd. (A Shares) 16,000 57,159 
Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd. (A Shares) 117,500 88,628 
Shijiazhuang Baosh Electric Co. Ltd. (A Shares) 100,900 92,437 
Sichuan Chuantou Energy Co. Ltd. (A Shares) 102,300 134,579 
Sichuan Kelun Pharmaceutical Co. Ltd. (A Shares) 22,400 95,455 
Sinolink Securities Co. Ltd. (A Shares) 74,400 113,452 
Sinopec Engineering Group Co. Ltd. (H Shares) 926,500 895,226 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 2,102,000 951,216 
Sinopharm Group Co. Ltd. (H Shares) 820,800 3,222,598 
Sinotrans Ltd. (H Shares) 1,438,000 590,246 
Soochow Securities Co. Ltd. (A Shares) 104,200 173,901 
Southwest Securities Co. Ltd. (A Shares) 48,700 37,890 
Spring Airlines Co. Ltd. (A Shares) 18,000 112,278 
Suning.com Co. Ltd. (A Shares) 124,700 233,666 
Suzhou Gold Mantis Consolidated Co. Ltd. 67,900 107,674 
Tasly Pharmaceutical Group Co. Ltd. (A Shares) 23,760 77,331 
TBEA Co. Ltd. (A Shares) 177,000 203,152 
TCL Corp. (A Shares) 327,800 174,732 
Tianma Microelectronics Co. Ltd. (A Shares) 36,600 76,407 
Tianqi Lithium Corp. (A Shares) 16,400 72,151 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 405,000 561,697 
Tonghua Dongbao Pharmaceutical Co. Ltd. (A Shares) 27,700 64,984 
Tongling Nonferrous Metals Group Co. Ltd. (A Shares) 329,200 122,199 
Tongwei Co. Ltd. (A Shares) 56,000 118,654 
TravelSky Technology Ltd. (H Shares) 657,000 1,687,557 
Tsingtao Brewery Co. Ltd. (H Shares) 232,000 1,478,687 
Tus-Sound Environmental Resources Co. Ltd. (A Shares) 30,100 50,234 
Unisplendour Corp. Ltd. (A Shares) 10,740 62,224 
Wanxiang Qianchao Co. Ltd. (A Shares) 78,300 74,290 
Weichai Power Co. Ltd. (H Shares) 1,375,000 2,247,030 
Weifu High-Technology Group Co. Ltd. (A Shares) 30,500 93,064 
Western Securities Co. Ltd. (A Shares) 61,500 97,068 
Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co. Ltd. (A Shares) 33,800 68,655 
Wuliangye Yibin Co. Ltd. (A Shares) 51,100 776,640 
XCMG Construction Machinery Co. Ltd. (A Shares) 152,300 103,570 
Xiamen C&D, Inc. (A Shares) 82,225 117,571 
Xinhu Zhongbao Co. Ltd. (A Shares) 191,000 100,393 
Xinjiang Goldwind Science & Technology Co. Ltd. (H Shares) (b) 589,764 643,532 
Yanzhou Coal Mining Co. Ltd. (H Shares) 1,172,000 1,248,970 
Yonghui Superstores Co. Ltd. (A Shares) 155,000 224,851 
Yonyou Network Technology Co. Ltd. (A Shares) 26,000 121,876 
Youngor Group Co. Ltd. (A Shares) 124,600 176,496 
Yunnan Baiyao Group Co. Ltd. (A Shares) 14,700 193,165 
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (A Shares) 8,400 143,806 
Zhaojin Mining Industry Co. Ltd. (H Shares) 727,500 625,972 
Zhejiang Century Huatong Group Co. Ltd. (A Shares) 48,320 140,263 
Zhejiang China Commodities City Group Co. Ltd. (A Shares) 160,100 102,218 
Zhejiang Chint Electric Co. Ltd. (A Shares) 33,200 124,964 
Zhejiang Dahua Technology Co. Ltd. (A Shares) 40,000 98,116 
Zhejiang Expressway Co. Ltd. (H Shares) 1,008,000 1,080,624 
Zhejiang Huayou Cobalt Co. Ltd. (A Shares) 11,400 49,223 
Zhejiang Longsheng Group Co. Ltd. (A Shares) 62,200 187,573 
Zhejiang Zheneng Electric Power Co. Ltd. (A Shares) 170,000 119,645 
Zhengzhou Yutong Bus Co. Ltd. (A Shares) 43,000 91,301 
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(c) 168,900 609,304 
Zhongjin Gold Co. Ltd. (A Shares) 64,700 76,277 
Zhuhai Wanlida Electric Co. Ltd. (A Shares) 11,500 44,652 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 385,827 1,957,464 
Zijin Mng Group Co. Ltd. (H Shares) 4,200,000 1,638,283 
Zoomlion Heavy Industry Science and Technology Co. Ltd. (A Shares) 229,300 168,530 
ZTE Corp. (H Shares) 600,400 1,905,716 
TOTAL CHINA  425,082,952 
Colombia - 0.3%   
Bancolombia SA 151,842 1,850,329 
Cementos Argos SA 354,913 885,842 
Ecopetrol SA 3,476,650 3,209,712 
Grupo de Inversiones Suramerica SA 169,174 1,883,635 
Interconexion Electrica SA ESP 316,158 1,546,933 
Inversiones Argos SA 182,385 1,037,929 
TOTAL COLOMBIA  10,414,380 
Czech Republic - 0.1%   
Ceske Energeticke Zavody A/S 110,742 2,575,356 
Komercni Banka A/S 55,826 2,115,320 
MONETA Money Bank A/S (c) 331,785 1,062,648 
TOTAL CZECH REPUBLIC  5,753,324 
Egypt - 0.1%   
Commercial International Bank SAE (a) 930,722 4,165,753 
Eastern Tobacco Co. 643,655 681,892 
Elsewedy Electric Co. 539,984 490,294 
TOTAL EGYPT  5,337,939 
Greece - 0.2%   
Alpha Bank AE (a) 1,012,756 1,569,824 
Ff Group (a)(d) 23,462 63,156 
Greek Organization of Football Prognostics SA 151,009 1,625,968 
Hellenic Telecommunications Organization SA 177,326 2,462,244 
Jumbo SA 73,741 1,339,868 
Motor Oil (HELLAS) Corinth Refineries SA 42,611 1,086,801 
Titan Cement Co. SA (Reg.) 34,037 739,085 
TOTAL GREECE  8,886,946 
Hong Kong - 3.5%   
Beijing Enterprises Holdings Ltd. 353,927 1,883,598 
BYD Electronic International Co. Ltd. 483,500 864,097 
China Agri-Industries Holdings Ltd. 1,472,000 474,730 
China Everbright International Ltd. 2,378,814 2,328,841 
China Everbright Ltd. 502,000 913,798 
China Jinmao Holdings Group Ltd. 3,686,000 2,386,916 
China Merchants Holdings International Co. Ltd. 840,880 1,697,881 
China Mobile Ltd. 4,343,571 41,443,756 
China Overseas Land and Investment Ltd. 2,695,202 10,083,645 
China Power International Development Ltd. 3,066,000 816,839 
China Resources Beer Holdings Co. Ltd. 1,010,144 4,616,263 
China Resources Pharmaceutical Group Ltd. (c) 1,105,500 1,572,683 
China Resources Power Holdings Co. Ltd. 1,347,940 1,886,649 
China Taiping Insurance Group Ltd. 1,147,255 3,480,607 
China Travel International Investment HK Ltd. 1,520,000 350,704 
China Unicom Ltd. 4,242,814 5,037,805 
CITIC Pacific Ltd. 4,100,941 5,969,910 
CNOOC Ltd. 12,644,584 22,966,793 
CSPC Pharmaceutical Group Ltd. 3,297,963 6,356,466 
Far East Horizon Ltd. 1,508,000 1,674,317 
Fosun International Ltd. 1,827,754 2,833,149 
Guangdong Investment Ltd. 2,067,126 3,873,490 
Hua Hong Semiconductor Ltd. (c) 320,000 756,272 
Lenovo Group Ltd. 5,046,000 4,676,272 
MMG Ltd. (a) 1,724,000 744,998 
Shanghai Industrial Holdings Ltd. 339,241 797,420 
Shenzhen Investment Ltd. 2,262,000 899,633 
Sino-Ocean Group Holding Ltd. 2,159,000 968,754 
Sinotruk Hong Kong Ltd. 489,500 1,059,518 
Sun Art Retail Group Ltd. 1,678,471 1,465,624 
Winteam Pharmaceutical Group Ltd. 1,408,000 798,695 
Yuexiu Property Co. Ltd. 4,660,000 1,081,124 
TOTAL HONG KONG  136,761,247 
Hungary - 0.3%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 256,896 2,949,524 
OTP Bank PLC 158,892 7,041,935 
Richter Gedeon PLC 100,959 1,997,751 
TOTAL HUNGARY  11,989,210 
India - 9.0%   
Adani Ports & Special Economic Zone Ltd. (a) 374,493 2,112,092 
Ambuja Cements Ltd. 392,164 1,241,578 
Ashok Leyland Ltd. 845,585 1,055,661 
Asian Paints Ltd. 202,247 4,248,822 
Aurobindo Pharma Ltd. 188,993 2,222,561 
Avenue Supermarts Ltd. (a)(c) 88,944 1,654,442 
Axis Bank Ltd. (a) 1,333,649 14,684,175 
Bajaj Auto Ltd. 58,993 2,527,618 
Bajaj Finance Ltd. 122,638 5,451,507 
Bajaj Finserv Ltd. 27,174 2,934,236 
Bharat Forge Ltd. 150,516 1,020,592 
Bharat Petroleum Corp. Ltd. 535,537 2,920,782 
Bharti Airtel Ltd. 987,334 4,540,656 
Bharti Airtel Ltd. rights 5/17/19 (a) 279,990 403,219 
Bharti Infratel Ltd. 237,527 895,411 
Bosch Ltd. (a) 5,047 1,305,751 
Britannia Industries Ltd. 41,073 1,707,891 
Cadila Healthcare Ltd. 149,586 698,993 
Cipla Ltd. (a) 248,450 2,015,510 
Coal India Ltd. 884,925 3,203,782 
Container Corp. of India Ltd. 138,961 984,042 
Dabur India Ltd. 378,226 2,161,928 
Divi's Laboratories Ltd. 55,665 1,396,161 
Dr. Reddy's Laboratories Ltd. 81,545 3,427,653 
Eicher Motors Ltd. 9,351 2,734,705 
GAIL India Ltd. (a) 554,899 2,835,963 
Glenmark Pharmaceuticals Ltd. 83,226 762,868 
Godrej Consumer Products Ltd. 251,340 2,352,196 
Grasim Industries Ltd. (a) 237,478 3,072,856 
Havells India Ltd. (a) 179,968 2,001,697 
HCL Technologies Ltd. 396,550 6,737,655 
Hero Motocorp Ltd. 35,927 1,295,723 
Hindalco Industries Ltd. 811,950 2,402,147 
Hindustan Petroleum Corp. Ltd. 433,392 1,812,360 
Hindustan Unilever Ltd. 460,611 11,624,563 
Housing Development Finance Corp. Ltd. 1,149,592 32,930,256 
ICICI Bank Ltd. 1,688,793 9,830,024 
Indiabulls Housing Finance Ltd. 196,905 1,966,166 
Indian Oil Corp. Ltd. 1,315,062 2,984,271 
Infosys Ltd. 2,475,834 26,631,439 
InterGlobe Aviation Ltd. (c) 65,897 1,435,320 
ITC Ltd. 2,425,492 10,494,666 
JSW Steel Ltd. 593,566 2,627,910 
Larsen & Toubro Ltd. 338,728 6,558,669 
LIC Housing Finance Ltd. 212,649 1,516,697 
Lupin Ltd. (a) 158,959 1,990,325 
Mahindra & Mahindra Financial Services Ltd. 204,494 1,176,368 
Mahindra & Mahindra Ltd. 525,677 4,870,552 
Marico Ltd. 323,667 1,670,222 
Maruti Suzuki India Ltd. 75,130 7,191,216 
Motherson Sumi Systems Ltd. 677,147 1,424,355 
Nestle India Ltd. 16,208 2,537,842 
NTPC Ltd. 1,671,508 3,217,162 
Oil & Natural Gas Corp. Ltd. 1,778,650 4,321,042 
Page Industries Ltd. 3,926 1,301,687 
Petronet LNG Ltd. 404,921 1,402,023 
Pidilite Industries Ltd. 88,331 1,565,739 
Piramal Enterprises Ltd. 57,855 1,962,088 
Power Grid Corp. of India Ltd. 1,249,919 3,345,225 
Rec Ltd. 495,834 1,050,444 
Reliance Industries Ltd. 2,020,092 40,397,779 
Shree Cement Ltd. 5,624 1,598,003 
Shriram Transport Finance Co. Ltd. 105,156 1,677,360 
State Bank of India (a) 1,269,609 5,650,140 
Sun Pharmaceutical Industries Ltd. 588,044 3,864,033 
Tata Consultancy Services Ltd. 638,123 20,709,884 
Tata Motors Ltd. (a) 1,111,858 3,423,388 
Tata Power Co. Ltd. 742,080 722,400 
Tata Steel Ltd. 255,419 2,043,440 
Tech Mahindra Ltd. (a) 319,001 3,829,551 
Titan Co. Ltd. 215,957 3,592,358 
Ultratech Cemco Ltd. (a) 66,715 4,422,442 
United Spirits Ltd. (a) 208,047 1,676,098 
UPL Ltd. (a) 248,976 3,464,544 
Vedanta Ltd. 906,222 2,170,993 
Vodafone Idea Ltd. (a) 4,960,592 1,100,423 
Wipro Ltd. 1,073,472 4,606,945 
Yes Bank Ltd. 1,205,950 2,908,949 
Zee Entertainment Enterprises Ltd. 344,613 2,140,503 
TOTAL INDIA  348,448,737 
Indonesia - 2.1%   
PT Adaro Energy Tbk 10,332,700 946,258 
PT Astra International Tbk 14,347,459 7,677,149 
PT Bank Central Asia Tbk 6,985,370 14,093,290 
PT Bank Mandiri (Persero) Tbk 13,250,898 7,219,144 
PT Bank Negara Indonesia (Persero) Tbk 5,187,700 3,494,872 
PT Bank Rakyat Indonesia Tbk 39,338,905 12,063,931 
PT Bank Tabungan Negara Tbk 3,069,600 544,989 
PT Bumi Serpong Damai Tbk (a) 5,567,700 560,677 
PT Charoen Pokphand Indonesia Tbk 5,210,800 1,928,910 
PT Gudang Garam Tbk 340,600 2,019,101 
PT Hanjaya Mandala Sampoerna Tbk 6,588,100 1,618,130 
PT Indah Kiat Pulp & Paper Tbk 1,941,500 1,008,218 
PT Indocement Tunggal Prakarsa Tbk 1,320,300 2,038,358 
PT Indofood CBP Sukses Makmur Tbk 1,538,300 1,049,822 
PT Indofood Sukses Makmur Tbk 3,105,600 1,514,661 
PT Jasa Marga Tbk 1,621,897 694,286 
PT Kalbe Farma Tbk 15,029,600 1,629,525 
PT Pabrik Kertas Tjiwi Kimia Tbk 995,800 704,048 
PT Pakuwon Jati Tbk 12,026,400 603,430 
PT Perusahaan Gas Negara Tbk Series B 7,475,100 1,216,999 
PT Semen Gresik (Persero) Tbk 2,115,748 2,004,393 
PT Surya Citra Media Tbk 4,264,000 556,564 
PT Tambang Batubara Bukit Asam Tbk 2,065,600 574,019 
PT Telekomunikasi Indonesia Tbk Series B 35,716,465 9,510,842 
PT Tower Bersama Infrastructure Tbk 1,568,900 434,888 
PT Unilever Indonesia Tbk 1,066,239 3,404,482 
PT United Tractors Tbk 1,201,300 2,290,900 
TOTAL INDONESIA  81,401,886 
Isle of Man - 0.1%   
NEPI Rockcastle PLC 275,772 2,298,518 
Korea (South) - 12.1%   
AMOREPACIFIC Corp. 23,559 4,209,820 
AMOREPACIFIC Group, Inc. 19,485 1,258,814 
BGF Retail Co. Ltd. 5,511 1,034,487 
BS Financial Group, Inc. 170,566 1,027,197 
Celltrion Healthcare Co. Ltd. 35,639 2,314,678 
Celltrion Pharm, Inc. 10,991 560,876 
Celltrion, Inc. (a) 58,925 10,731,952 
Cheil Industries, Inc. 53,691 4,727,904 
Cheil Worldwide, Inc. 44,006 962,150 
CJ CheilJedang Corp. 5,878 1,590,682 
CJ Corp. 9,600 985,559 
CJ O Shopping Co. Ltd. 7,692 1,446,533 
Daelim Industrial Co. 19,943 1,658,476 
Daewoo Engineering & Construction Co. Ltd. (a) 120,554 521,982 
Daewoo Shipbuilding & Marine Engineering Co. Ltd. (a) 26,954 672,686 
Db Insurance Co. Ltd. (a) 35,158 2,065,968 
DGB Financial Group Co. Ltd. 122,894 888,968 
Doosan Bobcat, Inc. 32,725 898,243 
E-Mart Co. Ltd. 14,851 2,194,459 
Fila Korea Ltd. 34,817 2,464,687 
GS Engineering & Construction Corp. 41,916 1,462,006 
GS Holdings Corp. 37,414 1,671,401 
GS Retail Co. Ltd. 19,189 645,398 
Hana Financial Group, Inc. 213,082 6,736,555 
Hankook Tire Co. Ltd. 53,273 1,819,230 
Hanmi Pharm Co. Ltd. 4,561 1,702,524 
Hanmi Science Co. Ltd. 9,308 601,336 
Hanon Systems 126,261 1,361,308 
Hanwha Chemical Corp. 77,200 1,366,243 
Hanwha Corp. 17,932 455,999 
Hanwha Life Insurance Co. Ltd. 224,416 769,254 
HDC Hyundai Development Co. 18,819 753,400 
HLB, Inc. (a) 23,201 1,672,291 
Hotel Shilla Co. 22,506 2,223,512 
Hyundai Department Store Co. Ltd. 10,350 902,505 
Hyundai Engineering & Construction Co. Ltd. 54,402 2,453,677 
Hyundai Fire & Marine Insurance Co. Ltd. 44,555 1,464,101 
Hyundai Glovis Co. Ltd. 13,339 1,827,794 
Hyundai Heavy Industries Co. Ltd. (a) 26,930 2,880,375 
Hyundai Mobis 48,266 9,640,677 
Hyundai Motor Co. 110,230 13,115,742 
Hyundai Robotics Co. Ltd. 6,993 2,054,627 
Hyundai Steel Co. 57,823 2,299,984 
Industrial Bank of Korea 181,243 2,203,236 
ING Life Insurance Korea Ltd. (c) 24,047 735,452 
Kakao Corp. 35,091 3,617,598 
Kangwon Land, Inc. 83,589 2,441,582 
KB Financial Group, Inc. 281,632 11,159,898 
KCC Corp. 3,538 1,079,020 
Kia Motors Corp. 186,935 7,266,955 
Korea Aerospace Industries Ltd. 51,880 1,559,952 
Korea Electric Power Corp. 182,229 4,427,188 
Korea Express Co. Ltd. (a) 5,734 775,857 
Korea Gas Corp. (a) 20,109 797,270 
Korea Investment Holdings Co. Ltd. 30,386 1,785,554 
Korea Zinc Co. Ltd. 6,052 2,352,669 
Korean Air Lines Co. Ltd. 34,501 982,559 
KT Corp. 2,064 48,480 
KT&G Corp. 82,527 7,231,685 
Kumho Petro Chemical Co. Ltd. (a) 12,145 957,819 
LG Chemical Ltd. 33,997 10,543,653 
LG Corp. 66,906 4,195,959 
LG Display Co. Ltd. 162,015 2,764,827 
LG Electronics, Inc. 74,630 4,859,884 
LG Household & Health Care Ltd. 6,663 8,139,781 
LG Innotek Co. Ltd. 9,095 957,155 
LG Telecom Ltd. 74,348 913,374 
Lotte Chemical Corp. 12,066 2,783,242 
Lotte Confectionery Co. Ltd. (a) 19,702 830,219 
Lotte Shopping Co. Ltd. 8,307 1,270,304 
Medy-Tox, Inc. 3,121 1,499,086 
Mirae Asset Daewoo Co. Ltd. 284,947 1,909,422 
NAVER Corp. 99,239 10,188,109 
NCSOFT Corp. 12,415 5,610,167 
Netmarble Corp. (c) 18,185 1,991,897 
Oci Co. Ltd. 13,055 1,044,167 
Orion Corp./Republic of Korea 15,409 1,282,749 
Ottogi Corp. 850 530,150 
Pearl Abyss Corp. (a) 4,127 617,981 
POSCO 55,812 12,259,784 
POSCO Chemtech Co. Ltd. 16,003 787,770 
Posco International Corp. 36,188 568,930 
S-Oil Corp. 31,527 2,497,220 
S1 Corp. 11,546 972,078 
Samsung Biologics Co. Ltd. (a)(c) 11,718 3,422,754 
Samsung Card Co. Ltd. 20,835 664,065 
Samsung Electro-Mechanics Co. Ltd. 39,150 3,649,260 
Samsung Electronics Co. Ltd. 3,414,737 134,505,452 
Samsung Engineering Co. Ltd. (a) 111,894 1,638,983 
Samsung Fire & Marine Insurance Co. Ltd. 21,858 5,708,570 
Samsung Heavy Industries Co. Ltd. (a) 314,372 2,220,031 
Samsung Life Insurance Co. Ltd. 49,627 3,619,670 
Samsung SDI Co. Ltd. 39,068 7,937,717 
Samsung SDS Co. Ltd. 24,590 4,584,179 
Samsung Securities Co. Ltd. 39,617 1,213,345 
Shinhan Financial Group Co. Ltd. 302,789 11,484,579 
Shinsegae Co. Ltd. 4,985 1,456,087 
SillaJen, Inc. (a) 41,671 2,341,289 
SK C&C Co. Ltd. 22,485 4,954,771 
SK Energy Co. Ltd. 45,949 7,204,141 
SK Hynix, Inc. 412,570 28,000,644 
SK Telecom Co. Ltd. 14,264 3,036,239 
STX Pan Ocean Co. Ltd. (Korea) (a) 79,716 326,326 
ViroMed Co. Ltd. (a) 9,640 2,155,731 
Woongjin Coway Co. Ltd. 36,687 2,767,260 
Woori Financial Group, Inc. (a) 336,136 3,999,522 
Woori Investment & Securities Co. Ltd. 90,992 1,074,853 
Yuhan Corp. 6,081 1,282,537 
TOTAL KOREA (SOUTH)  469,784,747 
Luxembourg - 0.0%   
Reinet Investments SCA 105,378 1,775,109 
Malaysia - 2.1%   
AirAsia Group BHD 1,091,100 720,451 
Alliance Bank Malaysia Bhd 741,200 727,844 
AMMB Holdings Bhd 1,105,800 1,195,532 
Axiata Group Bhd 1,945,551 1,868,143 
British American Tobacco (Malaysia) Bhd 102,700 865,914 
Bumiputra-Commerce Holdings Bhd 3,366,217 4,290,716 
Dialog Group Bhd 2,644,665 2,059,698 
DiGi.com Bhd 2,219,500 2,469,392 
Fraser & Neave Holdings BHD 93,200 786,717 
Gamuda Bhd 1,418,400 1,200,726 
Genting Bhd 1,542,700 2,626,825 
Genting Malaysia Bhd 2,114,640 1,626,449 
Genting Plantations Bhd 186,700 475,048 
Hap Seng Consolidated Bhd 447,400 1,069,129 
Hartalega Holdings Bhd 959,100 1,166,833 
Hong Leong Bank Bhd 441,300 2,132,585 
Hong Leong Credit Bhd 170,900 794,461 
IHH Healthcare Bhd 1,479,587 1,989,722 
IJM Corp. Bhd 2,122,400 1,201,213 
IOI Corp. Bhd 1,338,500 1,460,064 
IOI Properties Group Bhd 1,231,125 407,943 
Kuala Lumpur Kepong Bhd 304,600 1,822,664 
Malayan Banking Bhd 2,694,124 6,027,487 
Malaysia Airports Holdings Bhd 584,200 1,078,110 
Maxis Bhd 1,689,200 2,189,893 
MISC Bhd 812,900 1,356,636 
Nestle (Malaysia) BHD 41,900 1,480,612 
Petronas Chemicals Group Bhd 1,671,100 3,637,659 
Petronas Dagangan Bhd 119,726 700,199 
Petronas Gas Bhd 497,600 2,127,843 
PPB Group Bhd 408,140 1,851,906 
Press Metal Bhd 989,500 1,136,806 
Public Bank Bhd 2,065,657 11,241,331 
QL Resources Bhd 484,000 798,375 
RHB Capital Bhd 605,860 873,365 
Sime Darby Bhd 1,490,949 836,619 
Sime Darby Plantation Bhd 1,711,449 2,135,948 
Sime Darby Property Bhd 2,352,349 631,541 
SP Setia Bhd 1,165,459 639,882 
Telekom Malaysia Bhd 822,400 578,833 
Tenaga Nasional Bhd 2,200,972 6,537,172 
Top Glove Corp. Bhd 1,016,100 1,196,857 
Westports Holdings Bhd 771,300 708,898 
YTL Corp. Bhd 2,381,996 651,023 
TOTAL MALAYSIA  81,375,064 
Mexico - 2.7%   
Alfa SA de CV Series A 2,168,300 2,191,432 
Alsea S.A.B. de CV 372,700 833,170 
America Movil S.A.B. de CV Series L 23,869,947 17,778,674 
Banco Santander Mexico SA 1,325,545 2,226,285 
CEMEX S.A.B. de CV unit (a) 10,358,386 4,791,869 
Coca-Cola FEMSA S.A.B. de CV unit 382,469 2,439,740 
El Puerto de Liverpool S.A.B. de CV Class C 137,910 892,739 
Embotelladoras Arca S.A.B. de CV 318,900 1,810,174 
Fibra Uno Administracion SA de CV 2,413,483 3,597,739 
Fomento Economico Mexicano S.A.B. de CV unit 1,364,391 13,309,429 
Gruma S.A.B. de CV Series B 154,745 1,546,736 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 257,527 2,618,502 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 149,195 2,457,366 
Grupo Bimbo S.A.B. de CV Series A 1,018,770 2,268,859 
Grupo Carso SA de CV Series A1 307,700 1,193,128 
Grupo Financiero Banorte S.A.B. de CV Series O 1,842,781 11,648,030 
Grupo Financiero Inbursa S.A.B. de CV Series O 1,674,900 2,563,891 
Grupo Mexico SA de CV Series B 2,440,954 7,157,634 
Grupo Televisa SA de CV 1,688,093 3,433,576 
Industrias Penoles SA de CV 100,180 1,149,723 
Infraestructura Energetica Nova S.A.B. de CV 387,700 1,694,753 
Kimberly-Clark de Mexico SA de CV Series A 1,096,727 1,895,781 
Megacable Holdings S.A.B. de CV unit 220,500 971,315 
Mexichem S.A.B. de CV 758,320 1,760,423 
Promotora y Operadora de Infraestructura S.A.B. de CV 140,980 1,434,062 
Wal-Mart de Mexico SA de CV Series V 3,709,956 10,902,225 
TOTAL MEXICO  104,567,255 
Netherlands - 0.1%   
X5 Retail Group NV GDR 86,550 2,627,707 
Pakistan - 0.0%   
Habib Bank Ltd. 427,000 384,753 
MCB Bank Ltd. 286,100 384,646 
Oil & Gas Development Co. Ltd. 499,700 497,861 
TOTAL PAKISTAN  1,267,260 
Peru - 0.1%   
Compania de Minas Buenaventura SA sponsored ADR 126,913 2,057,260 
Philippines - 1.1%   
Aboitiz Equity Ventures, Inc. 1,411,920 1,516,668 
Aboitiz Power Corp. 1,035,555 754,259 
Alliance Global Group, Inc. 3,021,700 873,351 
Ayala Corp. 173,436 3,029,099 
Ayala Land, Inc. 5,073,643 4,798,200 
Bank of the Philippine Islands (BPI) 611,188 1,001,919 
BDO Unibank, Inc. 1,371,861 3,551,572 
DMCI Holdings, Inc. 2,932,700 632,321 
Globe Telecom, Inc. 24,135 829,990 
GT Capital Holdings, Inc. 60,747 1,015,188 
International Container Terminal Services, Inc. 539,070 1,317,472 
JG Summit Holdings, Inc. 2,042,560 2,604,501 
Jollibee Food Corp. 313,843 1,846,920 
Manila Electric Co. 162,680 1,210,043 
Megaworld Corp. 8,266,100 894,323 
Metro Pacific Investments Corp. 10,383,200 916,755 
Metropolitan Bank & Trust Co. 1,158,127 1,661,339 
Philippine Long Distance Telephone Co. 63,280 1,503,017 
Robinsons Land Corp. 1,547,897 732,679 
Security Bank Corp. 173,340 602,805 
SM Investments Corp. 166,705 3,059,694 
SM Prime Holdings, Inc. 6,998,700 5,604,639 
Universal Robina Corp. 632,558 1,861,255 
TOTAL PHILIPPINES  41,818,009 
Poland - 1.1%   
Alior Bank SA (a) 65,880 1,011,098 
Bank Handlowy w Warszawie SA 23,941 389,677 
Bank Millennium SA (a) 411,812 1,039,377 
Bank Polska Kasa Opieki SA 119,829 3,565,285 
Bank Zachodni WBK SA 24,862 2,581,544 
BRE Bank SA 9,958 1,154,377 
CD Projekt RED SA 47,743 2,684,837 
Cyfrowy Polsat SA (a) 161,941 1,122,986 
Dino Polska SA (a)(c) 35,090 1,166,162 
Grupa Lotos SA 66,285 1,442,453 
Jastrzebska Spolka Weglowa SA (a) 38,550 585,596 
KGHM Polska Miedz SA (Bearer) (a) 101,104 2,721,100 
LPP SA 931 2,086,646 
NG2 SA 19,616 1,064,611 
Polish Oil & Gas Co. SA 1,242,428 1,885,693 
Polska Grupa Energetyczna SA (a) 604,055 1,504,822 
Polski Koncern Naftowy Orlen SA 212,927 5,455,995 
Powszechna Kasa Oszczednosci Bank SA 621,114 6,377,818 
Powszechny Zaklad Ubezpieczen SA 427,976 4,703,710 
Telekomunikacja Polska SA (a) 479,769 619,697 
TOTAL POLAND  43,163,484 
Qatar - 0.9%   
Barwa Real Estate Co. (a) 138,779 1,323,084 
Ezdan Holding Group (a) 566,528 1,666,556 
Industries Qatar QSC (a) 128,905 4,284,146 
Masraf al Rayan (a) 263,466 2,626,881 
Qatar Electricity & Water Co. (a) 35,538 1,630,019 
Qatar Insurance Co. SAQ (a) 103,372 1,088,306 
Qatar Islamic Bank (a) 81,146 3,715,454 
Qatar National Bank SAQ (a) 320,967 17,278,397 
Qatar Telecom (Qtel) Q.S.C. (a) 51,239 914,794 
The Commercial Bank of Qatar (a) 143,882 2,011,562 
TOTAL QATAR  36,539,199 
Russia - 3.6%   
Alrosa Co. Ltd. 1,828,941 2,665,498 
Gazprom OAO 5,653,726 14,367,412 
Gazprom OAO sponsored ADR (Reg. S) 960,885 4,798,660 
Inter Rao Ues JSC 21,801,158 1,321,768 
Lukoil PJSC 294,592 25,139,747 
Lukoil PJSC sponsored ADR 51,180 4,339,040 
Magnit OJSC GDR (Reg. S) 248,614 3,545,236 
Magnitogorsk Iron & Steel Works PJSC 1,545,700 1,056,664 
MMC Norilsk Nickel PJSC 33,729 7,481,741 
MMC Norilsk Nickel PJSC sponsored ADR 110,628 2,455,942 
Mobile TeleSystems OJSC sponsored ADR 348,882 2,749,190 
Moscow Exchange MICEX-RTS OAO 895,257 1,260,716 
NOVATEK OAO GDR (Reg. S) 64,530 12,434,931 
Novolipetsk Steel OJSC 858,896 2,272,899 
PhosAgro OJSC GDR (Reg. S) 84,216 1,060,279 
Polyus PJSC 18,725 1,458,903 
Rosneft Oil Co. OJSC 623,771 4,136,847 
Rosneft Oil Co. OJSC GDR (Reg. S) 211,063 1,403,991 
RusHydro PJSC rights (a) 955,851 0 
Sberbank of Russia 7,641,765 26,771,815 
Severstal PAO 108,539 1,754,586 
Severstal PAO GDR (Reg. S) 16,916 273,870 
Surgutneftegas OJSC 4,265,462 1,620,587 
Tatneft PAO 866,256 10,148,886 
Tatneft PAO sponsored ADR 36,690 2,577,839 
VTB Bank OJSC (a) 2,254,499,962 1,237,850 
TOTAL RUSSIA  138,334,897 
Singapore - 0.0%   
BOC Aviation Ltd. Class A (c) 147,100 1,265,711 
South Africa - 6.0%   
Anglo American Platinum Ltd. 38,396 1,937,837 
AngloGold Ashanti Ltd. 291,237 3,465,099 
Aspen Pharmacare Holdings Ltd. 273,269 1,965,703 
Barclays Africa Group Ltd. 510,571 5,862,733 
Bidcorp Ltd. 234,834 4,958,847 
Bidvest Group Ltd. 236,946 3,596,014 
Capitec Bank Holdings Ltd. 28,710 2,682,724 
Clicks Group Ltd. 181,119 2,477,298 
Discovery Ltd. 250,526 2,522,948 
Exxaro Resources Ltd. 180,066 2,055,937 
FirstRand Ltd. 2,393,264 11,361,521 
Fortress (REIT) Ltd.:   
Class A 768,352 1,035,033 
Class B 524,936 398,518 
Foschini Ltd. 162,411 2,097,662 
Gold Fields Ltd. 582,734 2,196,159 
Growthpoint Properties Ltd. 2,071,251 3,602,427 
Hyprop Investments Ltd. 162,791 796,600 
Investec Ltd. 197,336 1,260,164 
Kumba Iron Ore Ltd. 46,517 1,393,884 
Liberty Holdings Ltd. 94,320 682,427 
Life Healthcare Group Holdings Ltd. 953,399 1,736,179 
MMI Holdings Ltd. (a) 683,854 853,324 
Mondi Ltd. 85,695 1,888,765 
Mr Price Group Ltd. 177,499 2,687,984 
MTN Group Ltd. 1,201,060 8,679,033 
MultiChoice Group Ltd. (a) 310,487 2,787,980 
Naspers Ltd. Class N 310,487 79,872,948 
Nedbank Group Ltd. 283,700 5,276,562 
Netcare Ltd. 848,539 1,422,437 
Oceana Group Ltd. 29,682 145,246 
Old Mutual Ltd. 3,514,027 5,647,500 
Pick 'n Pay Stores Ltd. 241,000 1,168,694 
PSG Group Ltd. 109,705 2,032,898 
Rand Merchant Insurance Holdings Ltd. 452,637 1,095,758 
Redefine Properties Ltd. 3,942,082 2,714,401 
Remgro Ltd. 374,442 5,081,993 
Resilient Property Income Fund Ltd. 201,800 800,993 
RMB Holdings Ltd. 497,018 2,900,459 
Sanlam Ltd. 1,269,083 6,786,777 
Sappi Ltd. 377,943 1,801,339 
Sasol Ltd. 397,885 13,200,408 
Shoprite Holdings Ltd. 312,095 3,759,976 
Spar Group Ltd. 137,782 1,868,557 
Standard Bank Group Ltd. 919,547 12,792,020 
Telkom SA Ltd. 201,148 1,192,264 
Tiger Brands Ltd. 114,742 1,992,845 
Truworths International Ltd. 317,264 1,676,476 
Vodacom Group Ltd. 428,085 3,451,014 
Woolworths Holdings Ltd. 681,376 2,272,524 
TOTAL SOUTH AFRICA  233,936,889 
Taiwan - 11.2%   
Acer, Inc. 2,095,000 1,420,305 
Advantech Co. Ltd. 250,993 2,030,556 
ASE Technology Holding Co. Ltd. 2,430,592 5,645,906 
Asia Cement Corp. 1,569,000 2,119,790 
ASUSTeK Computer, Inc. 493,502 3,768,898 
AU Optronics Corp. 5,989,000 2,141,829 
Catcher Technology Co. Ltd. 457,095 3,616,586 
Cathay Financial Holding Co. Ltd. 5,804,033 8,395,582 
Chang Hwa Commercial Bank 3,859,632 2,310,633 
Cheng Shin Rubber Industry Co. Ltd. 1,394,000 1,860,802 
Chicony Electronics Co. Ltd. 335,008 824,999 
China Airlines Ltd. 1,965,000 623,164 
China Development Finance Holding Corp. 9,779,000 3,148,698 
China Life Insurance Co. Ltd. 1,863,053 1,549,429 
China Steel Corp. 8,950,289 7,226,384 
Chinatrust Financial Holding Co. Ltd. 12,463,778 8,530,480 
Chunghwa Telecom Co. Ltd. 2,691,129 9,693,724 
Compal Electronics, Inc. 2,354,000 1,519,717 
Delta Electronics, Inc. 1,472,717 7,744,370 
E.SUN Financial Holdings Co. Ltd. 6,906,186 5,665,388 
ECLAT Textile Co. Ltd. 127,129 1,810,134 
EVA Airways Corp. 1,750,067 857,987 
Evergreen Marine Corp. (Taiwan) 1,657,472 726,773 
Far Eastern Textile Ltd. 2,289,000 2,496,256 
Far EasTone Telecommunications Co. Ltd. 1,122,348 2,753,025 
Feng Tay Enterprise Co. Ltd. 237,720 1,927,023 
First Financial Holding Co. Ltd. 6,988,181 4,986,389 
Formosa Chemicals & Fibre Corp. 2,501,149 8,984,129 
Formosa Petrochemical Corp. 878,347 3,254,506 
Formosa Plastics Corp. 3,166,085 11,475,035 
Formosa Taffeta Co. Ltd. 614,000 740,130 
Foxconn Technology Co. Ltd. 526,710 1,179,481 
Fubon Financial Holding Co. Ltd. 4,730,846 6,980,991 
Giant Manufacturing Co. Ltd. 214,000 1,630,865 
GlobalWafers Co. Ltd. 156,000 1,701,249 
Highwealth Construction Corp. 585,000 936,129 
HIWIN Technologies Corp. 163,917 1,556,846 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 9,334,465 26,249,596 
Hotai Motor Co. Ltd. 184,000 2,780,661 
Hua Nan Financial Holdings Co. Ltd. 5,370,871 3,510,828 
Innolux Corp. 6,457,000 2,068,614 
Inventec Corp. 1,804,000 1,447,777 
Largan Precision Co. Ltd. 71,451 10,751,639 
Lite-On Technology Corp. 1,517,044 2,137,961 
MediaTek, Inc. 1,063,615 10,170,806 
Mega Financial Holding Co. Ltd. 7,714,289 7,401,743 
Micro-Star International Co. Ltd. 448,000 1,240,981 
Nan Ya Plastics Corp. 3,662,358 9,256,040 
Nanya Technology Corp. 770,000 1,629,603 
Nien Made Enterprise Co. Ltd. 115,000 900,589 
Novatek Microelectronics Corp. 411,000 2,679,972 
Pegatron Corp. 1,407,000 2,654,459 
Phison Electronics Corp. 87,000 817,860 
Pou Chen Corp. 1,611,391 1,958,052 
Powertech Technology, Inc. 529,981 1,320,579 
President Chain Store Corp. 404,000 3,765,193 
Quanta Computer, Inc. 1,823,000 3,492,382 
Realtek Semiconductor Corp. 326,000 2,204,841 
Ruentex Development Co. Ltd. 413,600 567,492 
Ruentex Industries Ltd. 276,000 659,142 
Shin Kong Financial Holding Co. Ltd. 7,462,361 2,110,577 
Sinopac Holdings Co. 7,666,302 2,952,204 
Standard Foods Corp. 293,016 518,671 
Synnex Technology International Corp. 1,023,700 1,275,401 
TaiMed Biologics, Inc. (a) 126,000 640,153 
Taishin Financial Holdings Co. Ltd. 7,144,349 3,236,712 
Taiwan Business Bank 2,755,329 1,136,834 
Taiwan Cement Corp. 3,215,850 4,370,775 
Taiwan Cooperative Financial Holding Co. Ltd. 6,229,129 4,132,326 
Taiwan High Speed Rail Corp. 1,319,000 1,604,893 
Taiwan Mobile Co. Ltd. 1,134,000 4,146,722 
Taiwan Semiconductor Manufacturing Co. Ltd. 17,434,740 146,377,901 
Tatung Co. Ltd. (a) 1,336,000 1,028,956 
The Shanghai Commercial & Savings Bank Ltd. 2,000,000 3,223,092 
Unified-President Enterprises Corp. 3,420,332 8,124,146 
United Microelectronics Corp. 8,393,000 3,659,632 
Vanguard International Semiconductor Corp. 646,000 1,431,979 
Walsin Technology Corp. 226,000 1,382,241 
Win Semiconductors Corp. 256,000 1,714,840 
Winbond Electronics Corp. 1,893,000 983,194 
Wistron Corp. 2,037,251 1,687,710 
WPG Holding Co. Ltd. 1,080,880 1,425,340 
Yageo Corp. 181,321 1,786,688 
Yuanta Financial Holding Co. Ltd. 6,977,284 4,041,595 
TOTAL TAIWAN  436,493,580 
Thailand - 2.3%   
Advanced Info Service PCL (For. Reg.) 737,200 4,388,439 
Airports of Thailand PCL (For. Reg.) 2,955,000 6,341,897 
Bangkok Bank PCL (For. Reg.) 184,300 1,206,821 
Bangkok Dusit Medical Services PCL (For. Reg.) 2,672,800 2,135,393 
Bangkok Expressway and Metro PCL 5,382,200 1,838,051 
Banpu PCL (For. Reg.) 1,466,700 753,627 
Berli Jucker PCL (For. Reg) 808,800 1,305,027 
BTS Group Holdings PCL 4,258,900 1,574,529 
Bumrungrad Hospital PCL (For. Reg.) 248,700 1,379,178 
C.P. ALL PCL (For. Reg.) 3,627,300 8,807,574 
Central Pattana PCL (For. Reg.) 952,700 2,253,587 
Charoen Pokphand Foods PCL (For. Reg.) 2,312,700 1,974,499 
Electricity Generating PCL (For. Reg.) 80,700 748,404 
Energy Absolute PCL 932,400 1,628,614 
Glow Energy PCL (For. Reg.) 411,300 1,179,101 
Gulf Energy Development PCL 342,000 1,119,731 
Home Product Center PCL (For. Reg.) 3,027,200 1,489,059 
Indorama Ventures PCL (For. Reg.) 1,341,700 1,923,170 
IRPC PCL (For. Reg.) 7,410,300 1,311,763 
Kasikornbank PCL 92,500 553,536 
Kasikornbank PCL (For. Reg.) 1,204,800 7,190,864 
Krung Thai Bank PCL (For. Reg.) 2,483,700 1,470,727 
Land & House PCL (For. Reg.) 2,114,000 741,812 
Minor International PCL (For. Reg.) 1,580,000 1,856,348 
Muangthai Leasing PCL 450,069 726,202 
PTT Exploration and Production PCL (For. Reg.) 958,800 4,010,333 
PTT Global Chemical PCL (For. Reg.) 1,540,100 3,317,361 
PTT PCL (For. Reg.) 7,332,200 11,199,021 
Robinsons Department Store PCL (For. Reg.) 347,600 634,376 
Siam Cement PCL (For. Reg.) 268,000 3,879,251 
Siam Commercial Bank PCL (For. Reg.) 1,315,800 5,400,479 
Thai Oil PCL (For. Reg.) 698,200 1,514,854 
Thai Union Frozen Products PCL (For. Reg.) 1,493,800 884,556 
TMB PCL (For. Reg.) 7,813,600 494,508 
True Corp. PCL (For. Reg.) 6,812,237 1,099,178 
TOTAL THAILAND  88,331,870 
Turkey - 0.5%   
Akbank TAS 1,836,374 1,883,492 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 161,598 536,773 
Arcelik A/S (a) 158,182 486,192 
Aselsan A/S 241,653 827,798 
Bim Birlesik Magazalar A/S JSC 156,256 2,174,841 
Eregli Demir ve Celik Fabrikalari T.A.S. 1,026,332 1,575,559 
Ford Otomotiv Sanayi A/S 54,722 483,308 
Haci Omer Sabanci Holding A/S 500,990 646,504 
Koc Holding A/S 557,969 1,514,873 
Petkim Petrokimya Holding A/S 648,440 485,768 
TAV Havalimanlari Holding A/S 142,088 602,461 
Tupras Turkiye Petrol Rafinerileri A/S 92,842 1,918,487 
Turk Hava Yollari AO (a) 327,626 785,723 
Turk Sise ve Cam Fabrikalari A/S 531,879 543,743 
Turkcell Iletisim Hizmet A/S 810,487 1,697,881 
Turkiye Garanti Bankasi A/S 1,690,609 2,314,816 
Turkiye Halk Bankasi A/S 481,388 471,957 
Turkiye Is Bankasi A/S Series C 925,538 831,401 
TOTAL TURKEY  19,781,577 
United Arab Emirates - 0.8%   
Abu Dhabi Commercial Bank PJSC 1,967,445 5,292,013 
Aldar Properties PJSC 2,453,666 1,189,041 
Damac Properties Dubai Co. PJSC 1,413,618 477,216 
DP World Ltd. 119,709 2,394,180 
Dubai Islamic Bank Pakistan Ltd. (a) 1,182,117 1,663,843 
Emaar Development PJSC (a) 583,290 622,489 
Emaar Malls Group PJSC (a) 1,433,480 679,051 
Emaar Properties PJSC 2,530,267 3,306,503 
Emirates Telecommunications Corp. 1,221,006 5,551,312 
National Bank of Abu Dhabi PJSC (a) 1,936,894 8,436,983 
TOTAL UNITED ARAB EMIRATES  29,612,631 
United Kingdom - 0.0%   
Mediclinic International PLC 1 4 
United States of America - 0.4%   
Southern Copper Corp. 62,532 2,402,479 
Yum China Holdings, Inc. 257,483 12,240,742 
TOTAL UNITED STATES OF AMERICA  14,643,221 
TOTAL COMMON STOCKS   
(Cost $3,020,528,353)  3,694,746,522 
Nonconvertible Preferred Stocks - 3.5%   
Brazil - 2.6%   
Ambev SA sponsored ADR 21 99 
Banco Bradesco SA:   
(PN) 2,938,860 26,667,170 
(PN) sponsored ADR 338 3,062 
Braskem SA (PN-A) 124,700 1,519,514 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) (a) 169,700 1,499,606 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 113,700 2,798,207 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 620,129 2,331,157 
Gerdau SA 710,600 2,564,329 
Itau Unibanco Holding SA 3,435,771 29,642,736 
Itau Unibanco Holding SA sponsored ADR 1 9 
Itausa-Investimentos Itau SA (PN) 3,148,612 9,563,635 
Lojas Americanas SA (PN) 530,632 2,127,346 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) 2,681,200 18,537,485 
Telefonica Brasil SA 316,425 3,758,107 
TOTAL BRAZIL  101,012,462 
Chile - 0.1%   
Embotelladora Andina SA Class B 251,417 897,573 
Sociedad Quimica y Minera de Chile SA (PN-B) 83,461 2,975,786 
TOTAL CHILE  3,873,359 
Colombia - 0.1%   
Bancolombia SA (PN) 327,427 4,141,890 
Grupo Aval Acciones y Valores SA 2,874,647 1,106,916 
Grupo de Inversiones Suramerica SA 85,147 918,031 
TOTAL COLOMBIA  6,166,837 
Korea (South) - 0.6%   
AMOREPACIFIC Corp. 4,754 477,846 
CJ Corp. (a)(d) 1,440 45,360 
Hyundai Motor Co. Series 2 21,549 1,619,864 
LG Chemical Ltd. 2,734 470,930 
LG Household & Health Care Ltd. 1,480 1,028,617 
Samsung Electronics Co. Ltd. 598,886 19,139,491 
TOTAL KOREA (SOUTH)  22,782,108 
Russia - 0.1%   
AK Transneft OAO 343 891,236 
Surgutneftegas OJSC 5,463,922 3,309,727 
TOTAL RUSSIA  4,200,963 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $99,215,109)  138,035,729 
Money Market Funds - 2.2%   
Fidelity Cash Central Fund, 2.49% (e) 40,972,121 40,980,315 
Fidelity Securities Lending Cash Central Fund 2.49% (e)(f) 43,227,697 43,232,019 
TOTAL MONEY MARKET FUNDS   
(Cost $84,212,334)  84,212,334 
TOTAL INVESTMENT IN SECURITIES - 100.7%   
(Cost $3,203,955,796)  3,916,994,585 
NET OTHER ASSETS (LIABILITIES) - (0.7)%  (28,607,240) 
NET ASSETS - 100%  $3,888,387,345 

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) 1,075 June 2019 $58,060,750 $2,395,605 $2,395,605 

The notional amount of futures purchased as a percentage of Net Assets is 1.5%

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 $49,068,390 or 1.3% of net assets.

 (d) Level 3 security

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

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

Affiliated Central Funds

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 $681,133 
Fidelity Securities Lending Cash Central Fund 254,413 
Total $935,546 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $460,479,060 $190,586,181 $269,892,879 $-- 
Consumer Discretionary 543,225,773 459,866,281 83,296,336 63,156 
Consumer Staples 243,900,763 243,839,140 -- 61,623 
Energy 304,750,223 218,520,817 86,229,406 -- 
Financials 930,009,697 725,803,840 202,237,803 1,968,054 
Health Care 101,332,603 97,904,950 3,427,653 -- 
Industrials 193,055,315 193,009,955 -- 45,360 
Information Technology 571,161,775 373,662,254 197,427,835 71,686 
Materials 272,676,448 241,554,998 31,121,450 -- 
Real Estate 119,203,645 119,203,645 -- -- 
Utilities 92,986,949 88,559,761 4,427,188 -- 
Money Market Funds 84,212,334 84,212,334 -- -- 
Total Investments in Securities: $3,916,994,585 $3,036,724,156 $878,060,550 $2,209,879 
Derivative Instruments:     
Assets     
Futures Contracts $2,395,605 $2,395,605 $-- $-- 
Total Assets $2,395,605 $2,395,605 $-- $-- 
Total Derivative Instruments: $2,395,605 $2,395,605 $-- $-- 

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, 2019. 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) $2,395,605 $0 
Total Equity Risk 2,395,605 0 
Total Value of Derivatives $2,395,605 $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 distributable earnings.

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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $41,540,078) — See accompanying schedule:
Unaffiliated issuers (cost $3,119,743,462) 		$3,832,782,251  
Fidelity Central Funds (cost $84,212,334) 84,212,334  
Total Investment in Securities (cost $3,203,955,796)  $3,916,994,585 
Segregated cash with brokers for derivative instruments  2,852,200 
Foreign currency held at value (cost $14,695,165)  14,524,638 
Receivable for investments sold  1,729 
Receivable for fund shares sold  2,174,759 
Dividends receivable  4,331,418 
Distributions receivable from Fidelity Central Funds  153,849 
Receivable from investment adviser for expense reductions  278,434 
Other receivables  10,388 
Total assets  3,941,322,000 
Liabilities   
Payable for investments purchased $1,416,806  
Payable for fund shares redeemed 4,909,543  
Accrued management fee 294,446  
Payable for daily variation margin on futures contracts 80,264  
Other affiliated payables 245,372  
Other payables and accrued expenses 2,744,361  
Collateral on securities loaned 43,243,863  
Total liabilities  52,934,655 
Net Assets  $3,888,387,345 
Net Assets consist of:   
Paid in capital  $3,379,440,375 
Total distributable earnings (loss)  508,946,970 
Net Assets, for 277,531,212 shares outstanding  $3,888,387,345 
Net Asset Value, offering price and redemption price per share ($3,888,387,345 ÷ 277,531,212 shares)  $14.01 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $32,836,337 
Interest  61,746 
Income from Fidelity Central Funds  935,546 
Income before foreign taxes withheld  33,833,629 
Less foreign taxes withheld  (3,933,251) 
Total income  29,900,378 
Expenses   
Management fee $1,742,873  
Transfer agent fees 1,452,394  
Independent trustees' fees and expenses 8,865  
Interest 69,721  
Commitment fees 5,635  
Total expenses before reductions 3,279,488  
Expense reductions (1,694,239)  
Total expenses after reductions  1,585,249 
Net investment income (loss)  28,315,129 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $15,364) (190,121,421)  
Fidelity Central Funds (177)  
Foreign currency transactions (163,774)  
Futures contracts 6,921,689  
Total net realized gain (loss)  (183,363,683) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $2,107,877) 643,406,758  
Assets and liabilities in foreign currencies (87,107)  
Futures contracts 7,990,062  
Total change in net unrealized appreciation (depreciation)  651,309,713 
Net gain (loss)  467,946,030 
Net increase (decrease) in net assets resulting from operations  $496,261,159 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $28,315,129 $95,166,940 
Net realized gain (loss) (183,363,683) (22,190,337) 
Change in net unrealized appreciation (depreciation) 651,309,713 (645,966,260) 
Net increase (decrease) in net assets resulting from operations 496,261,159 (572,989,657) 
Distributions to shareholders (95,358,527) (82,362,292) 
Share transactions   
Proceeds from sales of shares 932,914,786 2,215,008,539 
Reinvestment of distributions 76,253,303 65,006,032 
Cost of shares redeemed (1,779,377,365) (576,697,558) 
Net increase (decrease) in net assets resulting from share transactions (770,209,276) 1,703,317,013 
Total increase (decrease) in net assets (369,306,644) 1,047,965,064 
Net Assets   
Beginning of period 4,257,693,989 3,209,728,925 
End of period $3,888,387,345 $4,257,693,989 
Other Information   
Shares   
Sold 70,699,953 155,713,369 
Issued in reinvestment of distributions 6,105,149 4,495,578 
Redeemed (136,692,522) (39,711,303) 
Net increase (decrease) (59,887,420) 120,497,644 

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,   
 2019 2018 2017 2016 A 
Selected Per–Share Data     
Net asset value, beginning of period $12.62 $14.80 $11.94 $10.00 
Income from Investment Operations     
Net investment income (loss)B .10 .36 .31 .25 
Net realized and unrealized gain (loss) 1.61 (2.18) 2.76 1.69 
Total from investment operations 1.71 (1.82) 3.07 1.94 
Distributions from net investment income (.32) (.27) (.13) – 
Distributions from net realized gain – (.09) (.08) – 
Total distributions (.32) (.36) (.21) – 
Net asset value, end of period $14.01 $12.62 $14.80 $11.94 
Total ReturnC,D 13.88% (12.61)% 26.24% 19.40% 
Ratios to Average Net AssetsE,F     
Expenses before reductions .17%G .17% .17% .33%G 
Expenses net of fee waivers, if any .08%G .08% .09% .11%G 
Expenses net of all reductions .08%G .08% .09% .11%G 
Net investment income (loss) 1.46%G 2.48% 2.36% 2.67%G 
Supplemental Data     
Net assets, end of period (000 omitted) $3,888,387 $4,257,694 $3,209,729 $1,461,386 
Portfolio turnover rateH 5%G 3% 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, 2019

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. 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. 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, 2019 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, certain foreign taxes, passive foreign investment companies (PFIC), market discount, certain deemed distributions, 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 $898,484,360 
Gross unrealized depreciation (188,695,690) 
Net unrealized appreciation (depreciation) $709,788,670 
Tax cost $3,209,601,520 

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.

No expiration  
Short-term $(7,976,832) 
Long-term (15,640,212) 
Total no expiration $(23,617,044) 
Total capital loss carryforward $(23,617,044) 

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 $94,921,075 and $823,653,738, 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 $11,888,296 2.51% $22,372 

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 $5,635 and is reflected in Commitment fees 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. 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 $254,413. During the period, there were no securities loaned to FCM.

9. Bank Borrowings.

The Fund is permitted to have bank borrowings for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity requirements. The Fund has established borrowing arrangements with certain banks. The interest rate on the borrowings is the bank's base rate, as revised from time to time. The average loan balance during the period for which loans were outstanding amounted to $63,220,500. The weighted average interest rate was 2.70%. The interest expense amounted to $47,349 under the bank borrowing program. At period end, there were no bank borrowings outstanding.

10. 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 February 29, 2020. 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 $1,644,527.

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 $49,712.

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, Strategic Advisers Fidelity Emerging Markets Fund was the owner of record of approximately 15% 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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Actual .08% $1,000.00 $1,138.80 $.42 
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

SV6-SANN-0619
1.9870287.103



Fidelity Flex℠ Funds

Fidelity Flex℠ International Index Fund



Semi-Annual Report

April 30, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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 (for managed account clients) or 1-800-835-5092 (for retirement plan participants) to request a free copy of the proxy voting guidelines.

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

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

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

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.4 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 1.3 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail) 1.1 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 1.0 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 0.9 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.9 
Novartis AG (Switzerland, Pharmaceuticals) 0.8 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.8 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
 9.6 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 22.4 
Industrials 11.3 
Consumer Discretionary 11.1 
Consumer Staples 9.3 
Information Technology 8.2 
Health Care 7.7 
Materials 7.2 
Energy 7.0 
Communication Services 6.6 
Real Estate 3.0 

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Japan 15.3% 
   United Kingdom 10.4% 
   Canada 6.8% 
   France 6.8% 
   Germany 5.8% 
   Switzerland 5.7% 
   Cayman Islands 4.8% 
   Australia 4.4% 
   United States of America* 3.6% 
   Other 36.4% 


 * 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, 2019

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

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.8%   
 Shares Value 
Australia - 4.4%   
AGL Energy Ltd. 9,625 $150,834 
Alumina Ltd. 40,135 63,377 
Amcor Ltd. 17,406 196,694 
AMP Ltd. 44,133 70,623 
APA Group unit 17,256 117,024 
Aristocrat Leisure Ltd. 8,936 164,289 
ASX Ltd. 3,011 158,134 
Aurizon Holdings Ltd. 29,774 99,909 
Australia & New Zealand Banking Group Ltd. 43,264 829,572 
Bank of Queensland Ltd. 6,393 41,778 
Bendigo & Adelaide Bank Ltd. 8,073 58,618 
BHP Billiton Ltd. 44,295 1,172,149 
BlueScope Steel Ltd. 8,390 79,550 
Boral Ltd. 19,641 67,153 
Brambles Ltd. 24,634 209,257 
Caltex Australia Ltd. 3,993 76,592 
Challenger Ltd. 7,563 43,825 
Cimic Group Ltd. 1,615 57,596 
Coca-Cola Amatil Ltd. 7,113 44,126 
Cochlear Ltd. 851 112,382 
Coles Group Ltd. (a) 16,631 147,840 
Commonwealth Bank of Australia 26,592 1,396,954 
Computershare Ltd. 7,300 91,756 
Crown Ltd. 5,216 48,868 
CSL Ltd. 6,871 961,816 
DEXUS Property Group unit 14,741 129,896 
Dominos Pizza Enterprises Ltd. 911 27,615 
Flight Centre Travel Group Ltd. 749 20,275 
Fortescue Metals Group Ltd. 22,448 113,147 
Goodman Group unit 24,863 230,658 
Harvey Norman Holdings Ltd. 8,770 25,781 
Incitec Pivot Ltd. 22,647 53,802 
Insurance Australia Group Ltd. 35,603 197,775 
Lendlease Group unit 8,799 82,498 
Macquarie Group Ltd. 4,862 461,680 
Medibank Private Ltd. 42,036 84,751 
Mirvac Group unit 57,197 114,109 
National Australia Bank Ltd. 40,950 731,164 
Newcrest Mining Ltd. 11,754 207,232 
Orica Ltd. 5,598 73,401 
Origin Energy Ltd. 25,513 132,552 
QBE Insurance Group Ltd. 20,701 188,690 
Ramsay Health Care Ltd. 2,108 97,068 
realestate.com.au Ltd. 865 48,722 
Rio Tinto Ltd. 5,602 376,629 
Santos Ltd. 25,714 130,334 
Scentre Group unit 80,785 217,547 
SEEK Ltd. 4,633 59,474 
Sonic Healthcare Ltd. 6,389 115,526 
South32 Ltd. 78,213 184,155 
SP AusNet 25,051 31,346 
Stockland Corp. Ltd. unit 37,297 99,123 
Suncorp Group Ltd. 20,235 189,292 
Sydney Airport unit 17,545 94,247 
Tabcorp Holdings Ltd. 28,447 96,057 
Telstra Corp. Ltd. 63,305 150,839 
The GPT Group unit 26,422 106,728 
TPG Telecom Ltd. 5,039 23,942 
Transurban Group unit 39,869 377,740 
Treasury Wine Estates Ltd. 10,549 127,908 
Vicinity Centres unit 51,563 92,327 
Washington H. Soul Pattinson & Co. Ltd. 1,407 22,803 
Wesfarmers Ltd. 17,092 433,885 
Westpac Banking Corp. 51,681 1,003,976 
Woodside Petroleum Ltd. 14,487 361,424 
Woolworths Group Ltd. 19,909 447,010 
WorleyParsons Ltd. 5,230 52,796 
TOTAL AUSTRALIA  14,276,640 
Austria - 0.2%   
Andritz AG 963 45,904 
Erste Group Bank AG 4,672 187,072 
OMV AG 2,187 117,128 
Raiffeisen International Bank-Holding AG 1,987 52,974 
Verbund AG 1,126 55,846 
Voestalpine AG 1,769 56,805 
TOTAL AUSTRIA  515,729 
Bailiwick of Jersey - 0.5%   
Experian PLC 13,880 404,032 
Ferguson PLC 3,577 253,744 
Glencore Xstrata PLC 170,137 675,029 
Polymetal International PLC 2,301 24,143 
WPP PLC 19,256 240,272 
TOTAL BAILIWICK OF JERSEY  1,597,220 
Belgium - 0.7%   
Ageas 2,659 140,170 
Anheuser-Busch InBev SA NV 11,525 1,024,655 
Colruyt NV 838 60,398 
Groupe Bruxelles Lambert SA 1,167 111,545 
KBC Groep NV 3,845 284,715 
Proximus 2,351 65,790 
Solvay SA Class A 1,098 131,957 
Telenet Group Holding NV 690 36,621 
UCB SA 2,008 159,274 
Umicore SA 3,279 126,882 
TOTAL BELGIUM  2,142,007 
Bermuda - 0.5%   
Alibaba Health Information Technology Ltd. (a) 50,000 59,785 
Alibaba Pictures Group Ltd. (a) 210,000 47,114 
Beijing Enterprises Water Group Ltd. 72,000 44,697 
Brilliance China Automotive Holdings Ltd. 44,000 48,404 
Cheung Kong Infrastructure Holdings Ltd. 10,500 85,260 
China Gas Holdings Ltd. 28,200 90,767 
China Oriental Group Co. Ltd. (H Shares) 16,000 9,810 
China Resource Gas Group Ltd. 12,000 55,527 
Cosco Shipping Ports Ltd. 28,413 28,323 
Credicorp Ltd. (United States) 1,050 248,745 
Dairy Farm International Holdings Ltd. 4,700 36,801 
GOME Electrical Appliances Holdings Ltd. (a) 148,000 16,979 
Haier Electronics Group Co. Ltd. 18,000 51,512 
HengTen Networks Group Ltd. (a) 216,000 6,195 
Hongkong Land Holdings Ltd. 16,900 117,793 
Jardine Matheson Holdings Ltd. 3,356 220,825 
Jardine Strategic Holdings Ltd. 3,262 123,369 
Kerry Properties Ltd. 9,000 38,433 
Kunlun Energy Co. Ltd. 48,000 50,663 
Luye Pharma Group Ltd. (b) 23,500 21,269 
Nine Dragons Paper (Holdings) Ltd. 21,000 19,408 
NWS Holdings Ltd. 26,000 54,023 
Shangri-La Asia Ltd. 18,000 25,515 
Shenzhen International Holdings Ltd. 14,000 30,196 
Sihuan Pharmaceutical Holdings Group Ltd. 76,000 20,442 
Yue Yuen Industrial (Holdings) Ltd. 12,000 38,777 
TOTAL BERMUDA  1,590,632 
Brazil - 1.1%   
Ambev SA 71,600 337,266 
Atacadao Distribuicao Comercio e Industria Ltda 5,500 29,737 
B2W Companhia Global do Varejo (a) 2,300 22,436 
Banco Bradesco SA 16,837 133,112 
Banco do Brasil SA 13,400 169,777 
Banco Santander SA (Brasil) unit 6,000 68,874 
BB Seguridade Participacoes SA 9,400 67,747 
BM&F BOVESPA SA 31,700 278,510 
BR Malls Participacoes SA 11,900 37,329 
Brasil Foods SA (a) 7,500 59,390 
CCR SA 16,400 48,893 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 3,600 30,022 
Cielo SA 19,140 37,488 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 4,900 58,734 
Companhia Siderurgica Nacional SA (CSN) 10,100 37,452 
Cosan SA Industria e Comercio 2,400 28,688 
Drogasil SA 3,600 63,478 
Embraer SA 8,700 43,577 
ENGIE Brasil Energia SA 3,250 36,875 
Equatorial Energia SA 2,600 54,439 
Hypermarcas SA 5,000 35,806 
IRB Brasil Resseguros SA 2,100 50,289 
JBS SA 13,100 66,050 
Klabin SA unit 9,400 39,795 
Kroton Educacional SA 21,700 53,958 
Localiza Rent A Car SA 8,800 81,243 
Lojas Renner SA 10,300 123,145 
M. Dias Branco SA 1,700 18,031 
Magazine Luiza SA 1,200 58,533 
Multiplan Empreendimentos Imobiliarios SA 3,900 23,831 
Natura Cosmeticos SA 2,900 38,636 
Petrobras Distribuidora SA 5,000 30,221 
Petroleo Brasileiro SA - Petrobras (ON) 42,800 327,023 
Porto Seguro SA 1,300 17,943 
Rumo SA (a) 18,000 83,089 
Sul America SA unit 2,900 23,075 
Suzano Papel e Celulose SA 8,330 86,527 
TIM Participacoes SA 10,800 32,198 
Ultrapar Participacoes SA 11,800 63,197 
Vale SA 47,873 611,675 
Weg SA 11,680 55,345 
TOTAL BRAZIL  3,563,434 
Canada - 6.5%   
Agnico Eagle Mines Ltd. (Canada) 3,640 150,741 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 6,680 393,859 
AltaGas Ltd. 4,077 54,200 
ARC Resources Ltd. 4,917 31,234 
ATCO Ltd. Class I (non-vtg.) 1,273 43,662 
Bank of Montreal 9,719 767,683 
Bank of Nova Scotia 18,545 1,021,311 
Barrick Gold Corp. (Canada) 26,608 338,236 
Bausch Health Cos., Inc. (Canada) (a) 4,665 107,737 
BCE, Inc. 2,316 103,621 
BlackBerry Ltd. (a) 8,565 78,573 
Bombardier, Inc. Class B (sub. vtg.) (a) 29,702 50,771 
Brookfield Asset Management, Inc. Class A 12,804 617,310 
CAE, Inc. 4,127 95,990 
Cameco Corp. 6,146 67,805 
Canadian Imperial Bank of Commerce 6,804 572,934 
Canadian National Railway Co. 11,039 1,025,374 
Canadian Natural Resources Ltd. 18,476 554,680 
Canadian Pacific Railway Ltd. 2,183 489,118 
Canadian Tire Ltd. Class A (non-vtg.) 929 102,254 
Canadian Utilities Ltd. Class A (non-vtg.) 1,863 51,355 
CCL Industries, Inc. Class B 2,295 97,902 
Cenovus Energy, Inc. (Canada) 15,263 151,297 
CGI Group, Inc. Class A (sub. vtg.) (a) 3,838 276,255 
CI Financial Corp. 3,784 54,428 
Constellation Software, Inc. 310 273,525 
Dollarama, Inc. 4,510 135,465 
Emera, Inc. 1,041 39,093 
Empire Co. Ltd. Class A (non-vtg.) 2,769 61,593 
Enbridge, Inc. 30,659 1,132,577 
Encana Corp. (Toronto) 23,144 160,317 
Fairfax Financial Holdings Ltd. (sub. vtg.) 438 208,875 
Finning International, Inc. 2,412 43,300 
First Capital Realty, Inc. 3,348 53,355 
First Quantum Minerals Ltd. 10,202 107,754 
Fortis, Inc. 6,800 251,352 
Franco-Nevada Corp. 2,891 207,141 
George Weston Ltd. 1,164 86,911 
Gildan Activewear, Inc. 3,138 115,710 
Great-West Lifeco, Inc. 4,698 118,072 
H&R (REIT) unit 2,168 37,042 
Husky Energy, Inc. 4,898 53,159 
Hydro One Ltd. (b) 5,551 89,830 
iA Financial Corp, Inc. 1,927 76,723 
IGM Financial, Inc. 1,276 35,241 
Imperial Oil Ltd. 4,513 131,108 
Intact Financial Corp. 2,203 180,242 
Inter Pipeline Ltd. 6,015 97,968 
Keyera Corp. 3,506 81,022 
Kinross Gold Corp. (a) 17,619 56,025 
Loblaw Companies Ltd. 2,988 146,378 
Lundin Mining Corp. 9,070 48,678 
Magna International, Inc. Class A (sub. vtg.) 4,911 273,355 
Manulife Financial Corp. 30,222 556,525 
Methanex Corp. 1,037 56,847 
Metro, Inc. Class A (sub. vtg.) 3,912 141,623 
National Bank of Canada 5,328 253,813 
Nutrien Ltd. 9,348 506,998 
Onex Corp. (sub. vtg.) 1,353 78,481 
Open Text Corp. 4,369 167,951 
Pembina Pipeline Corp. 8,006 286,249 
Power Corp. of Canada (sub. vtg.) 5,429 124,571 
Power Financial Corp. 3,810 90,806 
PrairieSky Royalty Ltd. 3,191 45,994 
Restaurant Brands International, Inc. 3,451 225,241 
Restaurant Brands International, Inc. 241 15,723 
RioCan (REIT) 2,375 45,667 
Rogers Communications, Inc. Class B (non-vtg.) 5,664 285,166 
Royal Bank of Canada 21,590 1,720,657 
Saputo, Inc. 3,453 118,073 
Seven Generations Energy Ltd. (a) 3,828 30,002 
Shaw Communications, Inc. Class B 7,468 151,233 
Shopify, Inc. Class A (a) 1,374 334,090 
Smart (REIT) 1,386 35,051 
SNC-Lavalin Group, Inc. 2,662 66,366 
Sun Life Financial, Inc. 9,387 389,998 
Suncor Energy, Inc. 24,558 809,862 
Teck Resources Ltd. Class B (sub. vtg.) 7,860 185,866 
TELUS Corp. 3,195 117,645 
The Stars Group, Inc. (a) 2,873 54,213 
The Toronto-Dominion Bank 27,648 1,577,114 
Thomson Reuters Corp. 3,090 190,954 
Tourmaline Oil Corp. 3,999 59,789 
TransCanada Corp. 13,980 667,225 
Turquoise Hill Resources Ltd. (a) 14,720 21,975 
Vermilion Energy, Inc. 2,053 52,425 
West Fraser Timber Co. Ltd. 775 39,898 
Wheaton Precious Metals Corp. 6,471 139,979 
WSP Global, Inc. 1,607 86,773 
TOTAL CANADA  21,330,984 
Cayman Islands - 4.8%   
3SBio, Inc. (b) 19,500 36,043 
51job, Inc. sponsored ADR (a) 354 32,688 
58.com, Inc. ADR (a) 1,364 97,922 
AAC Technology Holdings, Inc. 11,500 74,706 
Agile Property Holdings Ltd. 26,000 39,308 
Airtac International Group 2,000 26,665 
Alibaba Group Holding Ltd. sponsored ADR (a) 19,556 3,629,007 
Anta Sports Products Ltd. 16,000 112,788 
ASM Pacific Technology Ltd. 4,200 48,640 
Autohome, Inc. ADR Class A (a)(c) 901 104,056 
Baidu.com, Inc. sponsored ADR (a) 4,187 696,005 
Baozun, Inc. sponsored ADR (a)(c) 658 31,913 
BeiGene Ltd. ADR (a)(c) 495 61,494 
Car, Inc. (a) 7,000 5,666 
Chailease Holding Co. Ltd. 20,260 86,214 
Cheung Kong Property Holdings Ltd. 39,000 313,201 
China Conch Venture Holdings Ltd. 25,500 86,140 
China First Capital Group Ltd. (a) 44,000 18,509 
China Hongqiao Group Ltd. 29,500 24,293 
China Investment Fund International Holdings Co. Ltd. (d) 16,000 47,114 
China Literature Ltd. (a)(b) 3,800 17,245 
China Medical System Holdings Ltd. 22,000 19,491 
China Mengniu Dairy Co. Ltd. 40,000 147,869 
China Resources Cement Holdings Ltd. 38,000 38,025 
China Resources Land Ltd. 42,000 182,834 
China State Construction International Holdings Ltd. 32,000 33,163 
China Zhongwang Holdings Ltd. 15,600 8,511 
CIFI Holdings Group Co. Ltd. 52,000 34,535 
CK Hutchison Holdings Ltd. 41,000 430,655 
Country Garden Holdings Co. Ltd. 116,000 186,906 
Country Garden Services Holdings Co. Ltd. 18,000 33,270 
Ctrip.com International Ltd. ADR (a) 6,222 274,079 
Dali Foods Group Co. Ltd. (b) 33,000 23,473 
ENN Energy Holdings Ltd. 11,300 106,737 
Evergrande Real Estate Group Ltd. 38,000 121,826 
Fullshare Holdings Ltd. 85,000 9,535 
Future Land Development Holding Ltd. 26,000 30,989 
GDS Holdings Ltd. ADR (a)(c) 795 31,108 
Geely Automobile Holdings Ltd. 76,000 152,488 
Genscript Biotech Corp. (a) 14,000 35,692 
Greentown China Holdings Ltd. 8,500 7,693 
Greentown Service Group Co. Ltd. 12,000 10,356 
Haitian International Holdings Ltd. 7,000 17,525 
Hengan International Group Co. Ltd. 11,000 96,962 
Huazhu Group Ltd. ADR 2,030 86,072 
Hutchison China Meditech Ltd. sponsored ADR (a) 699 21,026 
iQIYI, Inc. ADR (a)(c) 1,681 37,167 
JD.com, Inc. sponsored ADR (a) 11,133 336,996 
Jiayuan International Group Ltd. 16,134 7,219 
Kaisa Group Holdings Ltd. 20,000 8,490 
Kingboard Chemical Holdings Ltd. 11,500 37,455 
Kingboard Laminates Holdings Ltd. 18,500 19,408 
Kingdee International Software Group Co. Ltd. 33,000 40,383 
Kingsoft Corp. Ltd. 12,000 30,670 
KWG Property Holding Ltd. 18,500 21,649 
Lee & Man Paper Manufacturing Ltd. 23,000 18,647 
Lijun International Pharmaceutical Holding Ltd. 24,000 22,670 
Logan Property Holdings Co. Ltd. 18,000 28,681 
Longfor Properties Co. Ltd. 23,000 84,731 
Meitu, Inc. (a)(b) 16,500 6,058 
Meituan Dianping Class B 4,500 32,697 
Melco Crown Entertainment Ltd. sponsored ADR 3,770 94,627 
MGM China Holdings Ltd. 12,000 24,720 
Minth Group Ltd. 12,000 37,859 
Momo, Inc. ADR 2,252 78,978 
NetEase, Inc. ADR 1,177 334,892 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 2,186 208,676 
Nexteer Auto Group Ltd. 11,000 17,219 
Noah Holdings Ltd. sponsored ADR (a) 388 21,084 
Pinduoduo, Inc. ADR (c) 2,896 64,378 
Sands China Ltd. 37,200 204,380 
Semiconductor Manufacturing International Corp. (a) 42,000 44,970 
Shenzhou International Group Holdings Ltd. 11,700 157,048 
Shimao Property Holdings Ltd. 18,000 54,839 
Shui On Land Ltd. 34,500 8,400 
SINA Corp. (a) 995 62,625 
Sino Biopharmaceutical Ltd. 108,500 104,284 
SOHO China Ltd. 31,000 11,223 
Sunac China Holdings Ltd. 37,000 190,782 
Sunny Optical Technology Group Co. Ltd. 10,500 128,024 
TAL Education Group ADR (a) 5,452 209,738 
Tencent Holdings Ltd. 86,100 4,243,668 
Tencent Music Entertainment Group ADR (a) 1,222 21,018 
Tingyi (Cayman Islands) Holding Corp. 28,000 46,043 
Towngas China Co. Ltd. 9,181 7,303 
Uni-President China Holdings Ltd. 13,000 11,898 
Vipshop Holdings Ltd. ADR (a) 6,982 60,115 
Want Want China Holdings Ltd. 72,000 57,088 
Weibo Corp. sponsored ADR (a) 860 58,910 
WH Group Ltd. (b) 131,000 155,300 
Wharf Real Estate Investment Co. Ltd. 18,000 137,900 
Wuxi Biologics (Cayman), Inc. (a)(b) 7,000 70,403 
Wynn Macau Ltd. 22,000 63,099 
Xiaomi Corp. Class B (b) 53,600 82,127 
Xinyi Solar Holdings Ltd. 45,098 25,697 
Yihai International Holding Ltd. 6,000 29,599 
Yuzhou Properties Co. 16,653 8,788 
YY, Inc. ADR (a) 752 63,627 
Zhen Ding Technology Holding Ltd. 6,000 21,455 
Zhongsheng Group Holdings Ltd. Class H 8,500 22,321 
ZTO Express (Cayman), Inc. sponsored ADR 4,791 95,485 
TOTAL CAYMAN ISLANDS  15,803,948 
Chile - 0.2%   
Aguas Andinas SA 45,960 26,464 
Banco de Chile (a) 377,485 55,383 
Banco de Credito e Inversiones (a) 625 41,614 
Banco Santander Chile 895,867 62,961 
Cencosud SA 20,403 38,709 
Colbun SA (a) 131,544 29,405 
Compania Cervecerias Unidas SA 2,280 31,509 
Compania de Petroleos de Chile SA (COPEC) 5,375 67,455 
CorpBanca SA 1,664,747 14,870 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 2,550 26,704 
Empresas CMPC SA 20,893 70,326 
Enel Chile SA 408,328 41,146 
Enersis SA 435,699 76,455 
LATAM Airlines Group SA 4,328 42,922 
S.A.C.I. Falabella 11,329 83,632 
TOTAL CHILE  709,555 
China - 2.8%   
Agricultural Bank of China Ltd.:   
(A Shares) 21,800 12,171 
(H Shares) 423,000 195,194 
Air China Ltd. (H Shares) 28,000 33,372 
Aluminum Corp. of China Ltd. (H Shares) (a) 68,000 26,611 
Angang Steel Co. Ltd. (H Shares) 22,000 14,779 
Anhui Conch Cement Co. Ltd. (H Shares) 19,500 118,942 
AviChina Industry & Technology Co. Ltd. (H Shares) 38,000 22,331 
Baic Motor Corp. Ltd. (H Shares) (b) 28,000 19,631 
Bank Communications Co. Ltd. (H Shares) 135,000 113,751 
Bank of Beijing Co. Ltd. (A Shares) 22,200 20,997 
Bank of China Ltd.:   
(A Shares) 6,000 3,466 
(H Shares) 1,189,000 566,854 
Bank of Jiangsu Co. Ltd. (A Shares) 24,700 26,919 
Bank of Nanjing Co. Ltd. (A Shares) 6,000 7,724 
Bank of Shanghai Co. Ltd. (A Shares) 6,860 12,905 
Baoshan Iron & Steel Co. Ltd. (A Shares) 7,300 7,772 
BBMG Corp. (H Shares) 60,000 21,110 
Beijing Capital International Airport Co. Ltd. (H Shares) 26,000 23,134 
BOE Technology Group Co. Ltd. (A Shares) 18,600 9,942 
BYD Co. Ltd. (H Shares) 11,000 74,878 
CGN Power Co. Ltd. (H Shares) (b) 132,000 34,831 
China Cinda Asset Management Co. Ltd. (H Shares) 114,000 30,372 
China CITIC Bank Corp. Ltd. (H Shares) 130,000 83,355 
China Coal Energy Co. Ltd. (H Shares) 18,000 7,939 
China Communications Construction Co. Ltd. (H Shares) 63,000 60,633 
China Communications Services Corp. Ltd. (H Shares) 32,000 25,780 
China Construction Bank Corp. (H Shares) 1,441,000 1,270,336 
China Eastern Airlines Corp. Ltd. (H Shares) 30,000 21,301 
China Everbright Bank Co. Ltd. (H Shares) 48,000 23,679 
China Fortune Land Development Co. Ltd. (A Shares) 2,300 10,730 
China Galaxy Securities Co. Ltd. (H Shares) 59,000 38,582 
China Huarong Asset Management Co. Ltd. (b) 141,000 30,196 
China International Capital Corp. Ltd. (H Shares) (b) 14,400 30,912 
China International Marine Containers Group Co. Ltd.:   
(H Shares) 4,400 5,547 
rights (a)(d) 42 44 
China International Travel Service Corp. Ltd. (A Shares) 900 10,355 
China Life Insurance Co. Ltd. (H Shares) 115,000 326,785 
China Longyuan Power Grid Corp. Ltd. (H Shares) 41,000 28,223 
China Merchants Bank Co. Ltd. (H Shares) 63,500 314,262 
China Merchants Securities Co. Ltd. (A Shares) 3,800 9,891 
China Merchants Shekou Industrial Zone Holdings Co. Ltd. (A Shares) 3,500 11,433 
China Minsheng Banking Corp. Ltd. (H Shares) 104,900 78,761 
China Molybdenum Co. Ltd.:   
(H Shares) 48,000 18,050 
Class A 19,000 11,877 
China National Building Materials Co. Ltd. (H Shares) 57,000 52,969 
China National Nuclear Power Co. Ltd. (A Shares) 11,400 10,038 
China Oilfield Services Ltd. (H Shares) 30,000 32,123 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 43,000 176,225 
China Petroleum & Chemical Corp.:   
(A Shares) 18,500 15,602 
(H Shares) 374,000 287,497 
China Railway Construction Corp. Ltd. (H Shares) 38,500 45,445 
China Railway Group Ltd. (H Shares) 51,000 40,177 
China Railway Signal & Communications Corp. (H Shares) (b) 22,000 16,153 
China Reinsurance Group Corp. (H Shares) 82,000 16,724 
China Shenhua Energy Co. Ltd.:   
(A Shares) 5,800 16,957 
(H Shares) 43,000 95,046 
China Shipping Container Lines Co. Ltd. (H Shares) (a) 37,000 4,999 
China Shipping Development Co. Ltd. (H Shares) 12,000 7,755 
China Southern Airlines Ltd. (H Shares) 32,000 27,901 
China State Construction Engineering Corp. Ltd. (A Shares) 5,600 5,097 
China Telecom Corp. Ltd. (H Shares) 214,000 110,754 
China Tower Corp. Ltd. (H Shares) (b) 584,000 157,822 
China United Network Communications Ltd. (A Shares) 13,100 12,974 
China Vanke Co. Ltd. (H Shares) 22,200 85,887 
China Yangtze Power Co. Ltd. (A Shares) 2,000 5,010 
Chongqing Changan Automobile Co. Ltd. (B Shares) 8,000 4,191 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 26,000 15,179 
CITIC Securities Co. Ltd.:   
(A Shares) 5,100 17,447 
(H Shares) 31,000 67,020 
COSCO SHIPPING Holdings Co. Ltd. (H Shares) (a) 40,500 18,844 
CRRC Corp. Ltd. (H Shares) 62,000 54,138 
Daqin Railway Co. Ltd. (A Shares) 6,400 8,096 
Datang International Power Generation Co. Ltd. (H Shares) 26,000 6,728 
Dongfeng Motor Group Co. Ltd. (H Shares) 40,000 38,803 
Focus Media Information Technology Co. Ltd. (A Shares) 7,100 6,431 
Foshan Haitian Flavouring & Food Co. Ltd. (A Shares) 900 11,931 
Fuyao Glass Industries Group Co. Ltd. (H Shares) (b) 7,600 26,690 
GF Securities Co. Ltd. (H Shares) 22,400 30,267 
Great Wall Motor Co. Ltd. (H Shares) 44,500 36,134 
Gree Electric Appliances, Inc. of Zhuhai (A Shares) 1,800 14,855 
Guangzhou Automobile Group Co. Ltd. (H Shares) 46,000 49,431 
Guangzhou R&F Properties Co. Ltd. (H Shares) 16,400 32,571 
Guotai Junan Securities Co. Ltd. (H Shares) (b) 11,200 23,928 
Haitong Securities Co. Ltd.:   
rights (a)(d) 1,971 563 
(H Shares) 55,200 71,069 
Hangzhou Hikvision Digital Technology Co. Ltd. (A Shares) 1,400 6,793 
Huadian Power International Corp. Ltd. (H Shares) 16,000 6,833 
Huaneng Power International, Inc. (H Shares) 68,000 43,514 
Huaneng Renewables Corp. Ltd. (H Shares) 72,000 20,742 
Huatai Securities Co. Ltd. (H Shares) (b) 27,000 50,801 
Huaxia Bank Co. Ltd. (A Shares) 10,400 12,384 
Industrial & Commercial Bank of China Ltd. (H Shares) 1,054,000 791,360 
Industrial Bank Co. Ltd. (A Shares) 11,500 34,014 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 2,000 9,206 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 18,000 21,546 
Jiangsu Expressway Co. Ltd. (H Shares) 18,000 25,607 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 600 5,858 
Jiangsu Yanghe Brewery JSC Ltd. (A Shares) 300 5,241 
Jiangxi Copper Co. Ltd. (H Shares) 23,000 30,492 
Kangmei Pharmaceutical Co. Ltd. (A Shares) 3,200 4,533 
Kweichow Moutai Co. Ltd. (A Shares) 300 43,386 
Legend Holdings Corp. (H Shares) (b) 5,700 15,513 
Maanshan Iron & Steel Co. Ltd. (A Shares) 26,900 13,900 
Metallurgical Corp. China Ltd. (H Shares) 62,000 17,150 
Midea Group Co. Ltd. (A Shares) 1,100 8,558 
New China Life Insurance Co. Ltd. (H Shares) 14,600 80,865 
Orient Securities Co. Ltd. (A Shares) 4,800 7,961 
People's Insurance Co. of China Group (H Shares) 124,000 50,739 
PetroChina Co. Ltd.:   
(A Shares) 10,000 11,002 
(H Shares) 304,000 192,704 
PICC Property & Casualty Co. Ltd. (H Shares) 102,000 114,550 
Ping An Bank Co. Ltd. (A Shares) 9,800 20,153 
Ping An Insurance (Group) Co. of China Ltd.:   
(A Shares) 2,000 25,568 
(H Shares) 79,500 962,321 
Poly Developments & Holdings (A Shares) 4,400 8,813 
Postal Savings Bank of China Co. Ltd. (H Shares) (b) 113,000 68,709 
Power Construction Corp. of China Ltd. (A Shares) 10,500 8,325 
Qingdao Haier Co. Ltd. (A Shares) 4,200 10,714 
SAIC Motor Corp. Ltd. (A Shares) 1,000 4,065 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 36,000 35,336 
Shanghai Electric Group Co. Ltd. (H Shares) 42,000 16,383 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 9,000 30,919 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 12,300 18,622 
Shanghai Pharmaceuticals Holding Co. Ltd. (H Shares) 17,400 36,420 
Shanghai Pudong Development Bank Co. Ltd. (A Shares) 12,200 21,683 
Shenwan Hongyuan Group Co. Ltd. (A Shares) 14,000 10,685 
Sinopec Engineering Group Co. Ltd. (H Shares) 23,500 22,707 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 68,000 30,772 
Sinopharm Group Co. Ltd. (H Shares) 19,200 75,382 
Sinotrans Ltd. (H Shares) 41,000 16,829 
Suning.com Co. Ltd. (A Shares) 4,400 8,245 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 15,000 20,804 
TravelSky Technology Ltd. (H Shares) 14,000 35,960 
Tsingtao Brewery Co. Ltd. (H Shares) 6,000 38,242 
Weichai Power Co. Ltd. (H Shares) 33,000 53,929 
Wuliangye Yibin Co. Ltd. (A Shares) 1,000 15,198 
Xinjiang Goldwind Science & Technology Co. Ltd.:   
(A Shares) 5,236 8,987 
(H Shares) 7,616 8,310 
Yanzhou Coal Mining Co. Ltd. (H Shares) 26,000 27,708 
Yunnan Baiyao Group Co. Ltd. (A Shares) 1,000 13,141 
Zhaojin Mining Industry Co. Ltd. (H Shares) 16,000 13,767 
Zhejiang Expressway Co. Ltd. (H Shares) 16,000 17,153 
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(b) 4,000 14,430 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 8,900 45,153 
Zijin Mng Group Co. Ltd. (H Shares) 112,000 43,688 
ZTE Corp. (H Shares) 11,800 37,454 
TOTAL CHINA  9,025,655 
Colombia - 0.1%   
Bancolombia SA 3,265 39,787 
Cementos Argos SA 10,851 27,083 
Ecopetrol SA 76,348 70,486 
Grupo de Inversiones Suramerica SA 3,355 37,356 
Interconexion Electrica SA ESP 5,555 27,180 
Inversiones Argos SA 3,671 20,891 
TOTAL COLOMBIA  222,783 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 2,158 50,185 
Komercni Banka A/S 1,308 49,562 
MONETA Money Bank A/S (b) 6,836 21,894 
TOTAL CZECH REPUBLIC  121,641 
Denmark - 1.1%   
A.P. Moller - Maersk A/S:   
Series A 65 79,196 
Series B 92 118,597 
Carlsberg A/S Series B 1,635 211,194 
Christian Hansen Holding A/S 1,519 154,951 
Coloplast A/S Series B 1,806 194,863 
Danske Bank A/S 10,972 194,589 
DONG Energy A/S (b) 2,895 221,638 
DSV de Sammensluttede Vognmaend A/S 2,867 264,893 
Genmab A/S (a) 901 149,573 
H Lundbeck A/S 1,029 43,285 
ISS Holdings A/S 2,528 78,617 
Novo Nordisk A/S Series B 27,545 1,349,555 
Novozymes A/S Series B 3,161 147,310 
Pandora A/S 1,655 69,419 
Tryg A/S 1,795 54,851 
Vestas Wind Systems A/S 2,969 268,518 
William Demant Holding A/S (a) 1,389 43,822 
TOTAL DENMARK  3,644,871 
Egypt - 0.0%   
Commercial International Bank SAE (a) 16,862 75,471 
Commercial International Bank SAE sponsored GDR 4,202 18,384 
Eastern Tobacco Co. 12,960 13,730 
Elsewedy Electric Co. 7,370 6,692 
TOTAL EGYPT  114,277 
Finland - 0.7%   
Elisa Corp. (A Shares) 2,069 87,788 
Fortum Corp. 6,505 137,457 
Kone Oyj (B Shares) 5,053 276,911 
Metso Corp. 1,515 56,431 
Neste Oyj 5,853 193,266 
Nokia Corp. 85,546 449,511 
Nokian Tyres PLC 1,862 62,277 
Nordea Bank ABP (Stockholm Stock Exchange) 45,836 360,608 
Orion Oyj (B Shares) 1,635 54,336 
Sampo Oyj (A Shares) 6,583 301,423 
Stora Enso Oyj (R Shares) 8,070 100,153 
UPM-Kymmene Corp. 8,148 229,475 
Wartsila Corp. 6,618 105,551 
TOTAL FINLAND  2,415,187 
France - 6.8%   
Accor SA 2,756 116,103 
Aeroports de Paris 435 88,602 
Air Liquide SA 6,417 853,665 
Alstom SA 2,453 107,850 
Amundi SA (b) 858 61,637 
Arkema SA 1,016 104,223 
Atos Origin SA 1,380 142,058 
AXA SA 28,866 769,756 
BIC SA 374 32,237 
bioMerieux SA 639 50,707 
BNP Paribas SA 17,080 909,221 
Bollore SA 13,525 64,259 
Bouygues SA 3,270 123,012 
Bureau Veritas SA 4,225 107,001 
Capgemini SA 2,452 297,293 
Carrefour SA 9,123 177,736 
Casino Guichard Perrachon SA 805 32,955 
CNP Assurances 2,700 63,716 
Compagnie de St. Gobain 7,608 311,928 
Covivio 683 73,924 
Credit Agricole SA 17,679 242,506 
Danone SA 9,273 749,977 
Dassault Aviation SA 42 63,548 
Dassault Systemes SA 1,993 315,296 
Edenred SA 3,476 163,784 
EDF SA 8,786 126,530 
Eiffage SA 1,140 119,040 
ENGIE 27,627 409,176 
Essilor International SA 4,359 531,094 
Eurazeo SA 801 62,843 
Eutelsat Communications 2,763 49,863 
Faurecia SA 1,176 59,724 
Gecina SA 706 105,395 
Groupe Eurotunnel SA 6,909 111,200 
Hermes International SCA 468 329,223 
ICADE 493 42,135 
Iliad SA 379 38,555 
Imerys SA 503 26,787 
Ingenico SA 827 69,716 
Ipsen SA 612 71,456 
JCDecaux SA 1,002 32,816 
Kering SA 1,142 675,017 
Klepierre SA 3,126 111,039 
L'Oreal SA 3,784 1,040,237 
Legrand SA 4,096 301,004 
LVMH Moet Hennessy - Louis Vuitton SA 4,175 1,639,177 
Michelin CGDE Series B 2,588 334,656 
Natixis SA 14,571 85,767 
Orange SA 29,843 466,403 
Pernod Ricard SA 3,203 558,093 
Peugeot Citroen SA 9,033 236,670 
Publicis Groupe SA 3,252 193,287 
Remy Cointreau SA 331 44,104 
Renault SA 2,943 200,759 
Rexel SA 4,290 57,644 
Safran SA 5,029 733,033 
Sanofi SA 17,049 1,487,513 
Sartorius Stedim Biotech 377 51,164 
Schneider Electric SA 8,340 705,864 
SCOR SE 2,415 98,487 
SEB SA 356 65,164 
Societe Generale Series A 11,783 373,657 
Sodexo SA 1,280 146,795 
SR Teleperformance SA 901 173,109 
Suez Environnement SA 6,113 85,876 
Thales SA 1,641 195,926 
Total SA 36,360 2,021,280 
Ubisoft Entertainment SA (a) 1,219 116,461 
Valeo SA 3,554 129,032 
Veolia Environnement SA 8,458 199,786 
VINCI SA 7,598 767,369 
Vivendi SA 15,711 456,025 
Wendel SA 469 64,912 
TOTAL FRANCE  22,023,857 
Germany - 5.4%   
adidas AG 2,730 701,497 
Allianz SE 6,324 1,528,600 
Axel Springer Verlag AG 678 38,402 
BASF AG 13,907 1,135,381 
Bayer AG 14,174 943,361 
Bayerische Motoren Werke AG (BMW) 5,048 429,733 
Beiersdorf AG 1,462 159,780 
Brenntag AG 2,443 131,688 
Commerzbank AG 14,528 130,552 
Continental AG 1,689 279,156 
Covestro AG (b) 2,985 163,214 
Daimler AG (Germany) 13,778 901,552 
Delivery Hero AG (a)(b) 1,311 60,419 
Deutsche Bank AG 30,345 250,804 
Deutsche Borse AG 2,883 385,233 
Deutsche Lufthansa AG 3,505 84,600 
Deutsche Post AG 14,954 519,808 
Deutsche Telekom AG 49,899 836,053 
Deutsche Wohnen AG (Bearer) 5,385 242,015 
Drillisch AG 695 25,911 
E.ON AG 33,799 363,398 
Evonik Industries AG 2,657 79,151 
Fraport AG Frankfurt Airport Services Worldwide 571 47,290 
Fresenius Medical Care AG & Co. KGaA 3,276 276,113 
Fresenius SE & Co. KGaA 6,319 358,480 
GEA Group AG 2,513 70,239 
Hannover Reuck SE 867 130,694 
HeidelbergCement Finance AG 2,169 175,158 
Henkel AG & Co. KGaA 1,386 132,058 
Hochtief AG 401 59,818 
Hugo Boss AG 1,049 73,135 
Infineon Technologies AG 17,507 415,014 
innogy SE (b) 1,800 83,561 
KION Group AG 1,082 74,076 
Lanxess AG 1,346 77,748 
Merck KGaA 2,019 214,857 
Metro Wholesale & Food Specialist AG 2,376 40,240 
MTU Aero Engines Holdings AG 756 177,811 
Muenchener Rueckversicherungs AG 2,237 559,511 
OSRAM Licht AG 1,390 47,535 
ProSiebenSat.1 Media AG 3,843 60,752 
Puma AG 113 69,898 
RWE AG 8,080 206,354 
SAP SE 14,802 1,908,100 
Siemens AG 11,531 1,382,592 
Siemens Healthineers AG (b) 2,248 95,862 
Symrise AG 1,791 172,153 
Telefonica Deutschland Holding AG 10,478 34,034 
Thyssenkrupp AG 6,539 91,933 
TUI AG 302 3,376 
TUI AG (GB) 5,775 64,296 
Uniper SE 3,094 93,731 
United Internet AG 1,903 76,262 
Volkswagen AG 446 79,737 
Vonovia SE 7,403 369,244 
Wirecard AG 1,785 267,675 
Zalando SE (a)(b) 1,573 73,994 
TOTAL GERMANY  17,453,639 
Greece - 0.1%   
Alpha Bank AE (a) 18,308 28,378 
Ff Group (a)(d) 256 689 
Greek Organization of Football Prognostics SA 2,686 28,921 
Hellenic Telecommunications Organization SA 3,813 52,945 
Jumbo SA 1,418 25,765 
Motor Oil (HELLAS) Corinth Refineries SA 1,107 28,234 
Titan Cement Co. SA (Reg.) 726 15,764 
TOTAL GREECE  180,696 
Hong Kong - 2.8%   
AIA Group Ltd. 182,600 1,869,721 
Bank of East Asia Ltd. 20,137 63,531 
Beijing Enterprises Holdings Ltd. 6,500 34,593 
BOC Hong Kong (Holdings) Ltd. 56,000 250,561 
BYD Electronic International Co. Ltd. 11,500 20,552 
China Agri-Industries Holdings Ltd. 21,000 6,773 
China Everbright International Ltd. 47,888 46,882 
China Everbright Ltd. 12,000 21,844 
China Jinmao Holdings Group Ltd. 74,000 47,920 
China Merchants Holdings International Co. Ltd. 16,131 32,571 
China Mobile Ltd. 92,500 882,580 
China Overseas Land and Investment Ltd. 58,000 216,997 
China Power International Development Ltd. 84,000 22,379 
China Resources Beer Holdings Co. Ltd. 22,000 100,538 
China Resources Pharmaceutical Group Ltd. (b) 27,000 38,410 
China Resources Power Holdings Co. Ltd. 28,000 39,190 
China Taiping Insurance Group Ltd. 26,400 80,094 
China Travel International Investment HK Ltd. 22,000 5,076 
China Unicom Ltd. 96,000 113,988 
CITIC Pacific Ltd. 83,000 120,827 
CLP Holdings Ltd. 25,000 283,468 
CNOOC Ltd. 271,000 492,227 
CSPC Pharmaceutical Group Ltd. 68,000 131,063 
Far East Horizon Ltd. 30,000 33,309 
Fosun International Ltd. 35,500 55,028 
Galaxy Entertainment Group Ltd. 36,000 269,146 
Guangdong Investment Ltd. 40,000 74,954 
Hang Lung Group Ltd. 12,000 35,718 
Hang Lung Properties Ltd. 33,000 77,570 
Hang Seng Bank Ltd. 11,400 299,358 
Henderson Land Development Co. Ltd. 19,100 117,598 
Hong Kong & China Gas Co. Ltd. 140,110 334,479 
Hong Kong Exchanges and Clearing Ltd. 18,318 635,134 
Hua Hong Semiconductor Ltd. (b) 5,000 11,817 
Hysan Development Co. Ltd. 9,000 50,365 
i-CABLE Communications Ltd. (a) 531 7 
i-CABLE Communications Ltd. rights 5/24/19 (a) 398 0 
Lenovo Group Ltd. 108,000 100,087 
Link (REIT) 32,000 373,241 
MMG Ltd. (a) 40,000 17,285 
MTR Corp. Ltd. 22,104 131,585 
New World Development Co. Ltd. 89,070 147,375 
PCCW Ltd. 61,000 36,780 
Power Assets Holdings Ltd. 21,500 149,915 
Shanghai Industrial Holdings Ltd. 5,000 11,753 
Shenzhen Investment Ltd. 58,000 23,068 
Sino Land Ltd. 53,666 94,405 
Sino-Ocean Group Holding Ltd. 53,500 24,006 
Sinotruk Hong Kong Ltd. 10,000 21,645 
SJM Holdings Ltd. 28,000 33,801 
Sun Art Retail Group Ltd. 34,500 30,125 
Sun Hung Kai Properties Ltd. 24,000 414,236 
Swire Pacific Ltd. (A Shares) 7,500 94,936 
Swire Properties Ltd. 18,600 75,516 
Techtronic Industries Co. Ltd. 20,000 144,554 
Wharf Holdings Ltd. 19,000 54,616 
Wheelock and Co. Ltd. 12,000 85,432 
Winteam Pharmaceutical Group Ltd. 36,000 20,421 
Yuexiu Property Co. Ltd. 110,000 25,520 
TOTAL HONG KONG  9,026,570 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 5,595 64,238 
OTP Bank PLC 3,452 152,989 
Richter Gedeon PLC 2,410 47,688 
TOTAL HUNGARY  264,915 
India - 2.3%   
Adani Ports & Special Economic Zone Ltd. (a) 6,557 36,981 
Ambuja Cements Ltd. 7,478 23,675 
Ashok Leyland Ltd. 14,204 17,733 
Asian Paints Ltd. 4,330 90,965 
Aurobindo Pharma Ltd. 5,283 62,128 
Avenue Supermarts Ltd. (a)(b) 1,982 36,867 
Axis Bank Ltd. (a) 29,374 323,423 
Bajaj Auto Ltd. 1,142 48,930 
Bajaj Finance Ltd. 2,759 122,643 
Bajaj Finserv Ltd. 511 55,178 
Bharat Forge Ltd. 3,016 20,450 
Bharat Petroleum Corp. Ltd. 11,370 62,011 
Bharti Airtel Ltd. 22,034 101,332 
Bharti Airtel Ltd. rights 5/17/19 (a) 6,248 8,998 
Bharti Infratel Ltd. 4,557 17,179 
Bosch Ltd. (a) 89 23,026 
Britannia Industries Ltd. 756 31,436 
Cadila Healthcare Ltd. 2,768 12,934 
Cipla Ltd. (a) 5,668 45,981 
Coal India Ltd. 17,300 62,633 
Container Corp. of India Ltd. 2,700 19,120 
Dabur India Ltd. 7,142 40,823 
Divi's Laboratories Ltd. 1,132 28,392 
Dr. Reddy's Laboratories Ltd. 1,847 77,637 
Eicher Motors Ltd. 188 54,981 
GAIL India Ltd. (a) 10,948 55,953 
Glenmark Pharmaceuticals Ltd. 3,803 34,859 
Godrej Consumer Products Ltd. 5,472 51,210 
Grasim Industries Ltd. (a) 4,648 60,143 
Havells India Ltd. (a) 3,395 37,761 
HCL Technologies Ltd. 8,065 137,030 
Hero Motocorp Ltd. 1,023 36,895 
Hindalco Industries Ltd. 15,616 46,200 
Hindustan Petroleum Corp. Ltd. 8,365 34,981 
Hindustan Unilever Ltd. 10,106 255,048 
Housing Development Finance Corp. Ltd. 24,770 709,541 
ICICI Bank Ltd. 34,815 202,649 
Indiabulls Housing Finance Ltd. 3,899 38,933 
Indian Oil Corp. Ltd. 27,552 62,524 
Infosys Ltd. 52,831 568,279 
Infosys Ltd. sponsored ADR 186 2,001 
InterGlobe Aviation Ltd. (b) 1,229 26,769 
ITC Ltd. 49,975 216,233 
JSW Steel Ltd. 11,404 50,489 
Larsen & Toubro Ltd. 7,057 136,642 
LIC Housing Finance Ltd. 5,727 40,847 
Lupin Ltd. (a) 4,583 57,384 
Mahindra & Mahindra Financial Services Ltd. 3,699 21,279 
Mahindra & Mahindra Ltd. 11,216 103,920 
Marico Ltd. 6,091 31,431 
Maruti Suzuki India Ltd. 1,545 147,883 
Motherson Sumi Systems Ltd. 12,475 26,241 
Nestle India Ltd. 319 49,949 
NTPC Ltd. 36,688 70,614 
Oil & Natural Gas Corp. Ltd. 37,909 92,096 
Page Industries Ltd. 79 26,193 
Petronet LNG Ltd. 8,132 28,157 
Pidilite Industries Ltd. 1,685 29,868 
Piramal Enterprises Ltd. 1,451 49,209 
Power Grid Corp. of India Ltd. 27,520 73,653 
Rec Ltd. 8,804 18,652 
Reliance Industries Ltd. 43,335 866,613 
Shree Cement Ltd. 165 46,883 
Shriram Transport Finance Co. Ltd. 1,964 31,328 
State Bank of India (a) 26,490 117,888 
Sun Pharmaceutical Industries Ltd. 12,566 82,571 
Tata Consultancy Services Ltd. 13,717 445,177 
Tata Motors Ltd. (a) 25,706 79,148 
Tata Power Co. Ltd. 12,640 12,305 
Tata Steel Ltd. 6,621 52,970 
Tech Mahindra Ltd. (a) 7,443 89,352 
Titan Co. Ltd. 4,641 77,201 
Ultratech Cemco Ltd. (a) 1,472 97,577 
United Spirits Ltd. (a) 4,092 32,967 
UPL Ltd. (a) 5,425 75,490 
Vedanta Ltd. 17,450 41,804 
Vodafone Idea Ltd. (a) 88,782 19,695 
Wipro Ltd. 24,514 105,205 
Yes Bank Ltd. 26,543 64,026 
Zee Entertainment Enterprises Ltd. 6,540 40,622 
TOTAL INDIA  7,435,794 
Indonesia - 0.5%   
PT Adaro Energy Tbk 208,200 19,067 
PT Astra International Tbk 318,100 170,211 
PT Bank Central Asia Tbk 151,700 306,061 
PT Bank Mandiri (Persero) Tbk 292,700 159,464 
PT Bank Negara Indonesia (Persero) Tbk 103,700 69,861 
PT Bank Rakyat Indonesia Tbk 855,700 262,415 
PT Bank Tabungan Negara Tbk 60,700 10,777 
PT Bumi Serpong Damai Tbk (a) 121,200 12,205 
PT Charoen Pokphand Indonesia Tbk 99,400 36,795 
PT Gudang Garam Tbk 6,700 39,718 
PT Hanjaya Mandala Sampoerna Tbk 129,200 31,733 
PT Indah Kiat Pulp & Paper Tbk 39,100 20,305 
PT Indocement Tunggal Prakarsa Tbk 30,000 46,316 
PT Indofood CBP Sukses Makmur Tbk 40,100 27,366 
PT Indofood Sukses Makmur Tbk 59,000 28,775 
PT Jasa Marga Tbk 20,400 8,733 
PT Kalbe Farma Tbk 362,600 39,313 
PT Pabrik Kertas Tjiwi Kimia Tbk 18,200 12,868 
PT Pakuwon Jati Tbk 192,000 9,634 
PT Perusahaan Gas Negara Tbk Series B 150,600 24,519 
PT Semen Gresik (Persero) Tbk 40,400 38,274 
PT Surya Citra Media Tbk 93,600 12,217 
PT Tambang Batubara Bukit Asam Tbk 41,200 11,449 
PT Telekomunikasi Indonesia Tbk Series B 766,200 204,029 
PT Tower Bersama Infrastructure Tbk 14,900 4,130 
PT Unilever Indonesia Tbk 21,100 67,372 
PT United Tractors Tbk 22,000 41,954 
TOTAL INDONESIA  1,715,561 
Ireland - 0.4%   
AIB Group PLC 11,448 53,132 
Bank Ireland Group PLC 14,705 93,846 
CRH PLC 12,437 418,389 
CRH PLC sponsored ADR 31 1,043 
DCC PLC (United Kingdom) 1,535 137,072 
James Hardie Industries PLC CDI 6,518 88,589 
Kerry Group PLC Class A 2,432 272,228 
Kingspan Group PLC (Ireland) 2,299 120,883 
Paddy Power Betfair PLC (Ireland) 1,209 101,267 
Ryanair Holdings PLC (a) 493 6,600 
Ryanair Holdings PLC sponsored ADR (a) 290 22,516 
Smurfit Kappa Group PLC 3,286 96,304 
TOTAL IRELAND  1,411,869 
Isle of Man - 0.1%   
Gaming VC Holdings SA 8,500 72,356 
Genting Singapore Ltd. 84,100 60,906 
NEPI Rockcastle PLC 5,366 44,725 
TOTAL ISLE OF MAN  177,987 
Israel - 0.3%   
Azrieli Group 571 32,502 
Bank Hapoalim BM (Reg.) 16,759 123,202 
Bank Leumi le-Israel BM 21,985 150,378 
Bezeq The Israel Telecommunication Corp. Ltd. 28,466 19,463 
Check Point Software Technologies Ltd. (a) 1,956 236,207 
Elbit Systems Ltd. (Israel) 312 43,427 
Israel Chemicals Ltd. 9,602 50,840 
Mizrahi Tefahot Bank Ltd. 1,808 39,090 
NICE Systems Ltd. (a) 871 120,170 
NICE Systems Ltd. sponsored ADR (a) 40 5,514 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 14,894 226,687 
Wix.com Ltd. (a) 671 90,021 
TOTAL ISRAEL  1,137,501 
Italy - 1.2%   
Assicurazioni Generali SpA 17,003 329,921 
Atlantia SpA 7,602 207,362 
Davide Campari-Milano SpA 9,036 91,061 
Enel SpA 121,922 772,030 
Eni SpA 38,364 653,766 
Intesa Sanpaolo SpA 226,280 592,857 
Leonardo SpA 5,702 65,840 
Mediobanca SpA 9,283 98,392 
Moncler SpA 2,660 109,105 
Pirelli & C. SpA (b) 5,430 39,636 
Poste Italiane SpA (b) 7,129 76,041 
Prysmian SpA 3,709 71,511 
Recordati SpA 1,657 66,887 
Snam Rete Gas SpA 32,554 165,658 
Telecom Italia SpA (a) 152,731 85,495 
Terna SpA 20,591 123,280 
UniCredit SpA 30,714 424,754 
TOTAL ITALY  3,973,596 
Japan - 15.3%   
ABC-MART, Inc. 400 24,849 
ACOM Co. Ltd. 4,300 15,055 
AEON Co. Ltd. 9,500 175,212 
AEON Financial Service Co. Ltd. 1,600 33,021 
AEON MALL Co. Ltd. 1,500 22,945 
Agc, Inc. 2,900 98,537 
Air Water, Inc. 2,000 30,378 
Aisin Seiki Co. Ltd. 2,600 100,480 
Ajinomoto Co., Inc. 6,900 111,031 
Alfresa Holdings Corp. 3,000 83,352 
All Nippon Airways Ltd. 1,600 55,845 
Alps Electric Co. Ltd. 3,700 77,956 
Amada Holdings Co. Ltd. 4,700 52,150 
Aozora Bank Ltd. 2,100 51,070 
Asahi Group Holdings 5,600 242,761 
ASAHI INTECC Co. Ltd. 1,500 75,542 
Asahi Kasei Corp. 19,500 200,085 
Asics Corp. 2,200 26,958 
Astellas Pharma, Inc. 29,100 394,127 
Bandai Namco Holdings, Inc. 2,900 137,977 
Bank of Kyoto Ltd. 700 30,163 
Benesse Holdings, Inc. 900 24,763 
Bridgestone Corp. 9,200 363,887 
Brother Industries Ltd. 3,500 68,589 
Calbee, Inc. 1,100 30,217 
Canon, Inc. 15,000 416,221 
Casio Computer Co. Ltd. 2,800 35,215 
Central Japan Railway Co. 2,200 471,915 
Chiba Bank Ltd. 8,400 43,812 
Chubu Electric Power Co., Inc. 8,700 126,210 
Chugai Pharmaceutical Co. Ltd. 3,500 221,195 
Chugoku Electric Power Co., Inc. 3,800 45,268 
Coca-Cola West Co. Ltd. 1,800 44,226 
Concordia Financial Group Ltd. 14,900 57,784 
Credit Saison Co. Ltd. 2,600 33,050 
CyberAgent, Inc. 1,600 63,629 
Dai Nippon Printing Co. Ltd. 4,100 96,910 
Dai-ichi Mutual Life Insurance Co. 16,800 240,549 
Daicel Chemical Industries Ltd. 3,700 41,253 
Daifuku Co. Ltd. 1,500 91,297 
Daiichi Sankyo Kabushiki Kaisha 8,600 423,148 
Daikin Industries Ltd. 3,800 483,814 
Dainippon Sumitomo Pharma Co. Ltd. 2,200 48,386 
Daito Trust Construction Co. Ltd. 1,100 146,788 
Daiwa House Industry Co. Ltd. 8,600 240,178 
Daiwa House REIT Investment Corp. 28 64,222 
Daiwa Securities Group, Inc. 24,100 112,182 
DeNA Co. Ltd. 1,600 24,920 
DENSO Corp. 6,600 287,534 
Dentsu, Inc. 3,200 130,275 
Disco Corp. 400 68,513 
East Japan Railway Co. 4,600 432,147 
Eisai Co. Ltd. 3,900 225,958 
Electric Power Development Co. Ltd. 2,000 46,322 
FamilyMart Co. Ltd. 3,600 95,918 
Fanuc Corp. 2,900 544,839 
Fast Retailing Co. Ltd. 900 519,180 
Fuji Electric Co. Ltd. 1,700 59,899 
Fujifilm Holdings Corp. 5,800 269,915 
Fujitsu Ltd. 3,000 219,085 
Fukuoka Financial Group, Inc. 2,500 57,812 
Hakuhodo DY Holdings, Inc. 3,700 62,212 
Hamamatsu Photonics K.K. 2,300 93,016 
Hankyu Hanshin Holdings, Inc. 3,300 122,941 
Hikari Tsushin, Inc. 300 55,317 
Hino Motors Ltd. 3,400 31,987 
Hirose Electric Co. Ltd. 500 57,723 
Hisamitsu Pharmaceutical Co., Inc. 800 33,826 
Hitachi Chemical Co. Ltd. 1,400 37,075 
Hitachi Construction Machinery Co. Ltd. 1,600 42,372 
Hitachi High-Technologies Corp. 900 39,993 
Hitachi Ltd. 14,700 486,811 
Hitachi Metals Ltd. 2,900 33,349 
Honda Motor Co. Ltd. 24,500 683,622 
Hoshizaki Corp. 900 58,171 
Hoya Corp. 5,800 406,903 
Hulic Co. Ltd. 4,000 34,400 
Idemitsu Kosan Co. Ltd. 2,966 95,987 
IHI Corp. 2,000 47,345 
Iida Group Holdings Co. Ltd. 2,600 43,857 
INPEX Corp. 14,900 144,593 
Isetan Mitsukoshi Holdings Ltd. 5,300 50,386 
Isuzu Motors Ltd. 8,100 116,016 
Itochu Corp. 20,200 362,673 
J. Front Retailing Co. Ltd. 3,700 45,007 
Japan Airlines Co. Ltd. 1,900 63,603 
Japan Airport Terminal Co. Ltd. 700 29,440 
Japan Exchange Group, Inc. 7,400 120,106 
Japan Post Bank Co. Ltd. 5,100 55,993 
Japan Post Holdings Co. Ltd. 23,200 258,877 
Japan Prime Realty Investment Corp. 12 47,938 
Japan Real Estate Investment Corp. 20 110,777 
Japan Retail Fund Investment Corp. 41 78,397 
Japan Tobacco, Inc. 16,600 383,587 
JFE Holdings, Inc. 7,100 121,419 
JGC Corp. 2,800 39,916 
JSR Corp. 2,700 40,914 
JTEKT Corp. 2,700 34,636 
JX Holdings, Inc. 49,700 241,239 
Kajima Corp. 6,700 98,941 
Kakaku.com, Inc. 2,200 45,029 
Kamigumi Co. Ltd. 1,400 33,330 
Kaneka Corp. 600 23,053 
Kansai Electric Power Co., Inc. 10,200 123,202 
Kansai Paint Co. Ltd. 2,600 49,365 
Kao Corp. 7,400 568,444 
Kawasaki Heavy Industries Ltd. 2,200 51,072 
KDDI Corp. 26,800 617,674 
Keihan Electric Railway Co., Ltd. 1,300 55,142 
Keihin Electric Express Railway Co. Ltd. 3,000 51,062 
Keio Corp. 1,600 96,234 
Keisei Electric Railway Co. 1,800 62,857 
Keyence Corp. 1,500 930,742 
Kikkoman Corp. 2,100 97,275 
Kintetsu Group Holdings Co. Ltd. 2,500 110,755 
Kirin Holdings Co. Ltd. 12,600 284,983 
Kobayashi Pharmaceutical Co. Ltd. 700 55,676 
Kobe Steel Ltd. 4,300 32,773 
Koito Manufacturing Co. Ltd. 1,600 95,085 
Komatsu Ltd. 14,200 366,792 
Konami Holdings Corp. 1,400 63,594 
Konica Minolta, Inc. 6,300 63,003 
Kose Corp. 500 93,586 
Kubota Corp. 15,100 228,137 
Kuraray Co. Ltd. 4,900 65,410 
Kurita Water Industries Ltd. 1,300 33,680 
Kyocera Corp. 4,900 316,271 
Kyowa Hakko Kirin Co., Ltd. 4,100 79,354 
Kyushu Electric Power Co., Inc. 5,000 48,341 
Kyushu Railway Co. 2,400 77,993 
Lawson, Inc. 700 32,614 
LINE Corp. (a) 900 30,154 
Lion Corp. 3,500 71,888 
LIXIL Group Corp. 3,800 49,361 
M3, Inc. 6,300 111,358 
Makita Corp. 3,300 119,978 
Marubeni Corp. 24,400 174,159 
Marui Group Co. Ltd. 3,000 60,784 
Maruichi Steel Tube Ltd. 700 19,292 
Mazda Motor Corp. 8,500 100,379 
McDonald's Holdings Co. (Japan) Ltd. 900 41,609 
Mebuki Financial Group, Inc. 11,100 28,200 
Medipal Holdings Corp. 2,400 53,755 
Meiji Holdings Co. Ltd. 1,900 149,244 
Minebea Mitsumi, Inc. 6,200 109,646 
Misumi Group, Inc. 4,500 116,262 
Mitsubishi Chemical Holdings Corp. 18,700 132,467 
Mitsubishi Corp. 20,300 556,908 
Mitsubishi Electric Corp. 27,900 396,228 
Mitsubishi Estate Co. Ltd. 18,000 303,057 
Mitsubishi Gas Chemical Co., Inc. 2,400 35,765 
Mitsubishi Heavy Industries Ltd. 4,400 182,525 
Mitsubishi Materials Corp. 1,700 44,013 
Mitsubishi Motors Corp. of Japan 9,400 52,571 
Mitsubishi Tanabe Pharma Corp. 4,200 52,710 
Mitsubishi UFJ Financial Group, Inc. 176,100 873,725 
Mitsubishi UFJ Lease & Finance Co. Ltd. 6,700 33,923 
Mitsui & Co. Ltd. 25,100 404,232 
Mitsui Chemicals, Inc. 2,800 68,319 
Mitsui Fudosan Co. Ltd. 13,600 313,400 
Mitsui OSK Lines Ltd. 1,900 48,099 
Mizuho Financial Group, Inc. 357,900 558,942 
MonotaRO Co. Ltd. 2,000 45,998 
MS&AD Insurance Group Holdings, Inc. 7,000 216,042 
Murata Manufacturing Co. Ltd. 8,200 411,752 
Nabtesco Corp. 1,800 54,778 
Nagoya Railroad Co. Ltd. 2,800 75,659 
NEC Corp. 3,800 127,753 
New Hampshire Foods Ltd. 1,200 48,153 
Nexon Co. Ltd. (a) 6,500 93,128 
NGK Insulators Ltd. 3,600 53,130 
NGK Spark Plug Co. Ltd. 2,100 40,663 
Nidec Corp. 3,400 481,790 
Nikon Corp. 5,300 73,747 
Nintendo Co. Ltd. 1,700 585,507 
Nippon Building Fund, Inc. 20 128,731 
Nippon Electric Glass Co. Ltd. 1,200 32,856 
Nippon Express Co. Ltd. 1,200 65,712 
Nippon Paint Holdings Co. Ltd. 2,300 87,028 
Nippon Prologis REIT, Inc. 27 57,929 
Nippon Steel & Sumitomo Metal Corp. 12,100 215,127 
Nippon Telegraph & Telephone Corp. 9,700 403,602 
Nippon Yusen KK 2,200 37,445 
Nissan Chemical Corp. 1,900 84,088 
Nissan Motor Co. Ltd. 34,300 275,362 
Nisshin Seifun Group, Inc. 3,500 81,189 
Nissin Food Holdings Co. Ltd. 900 59,222 
Nitori Holdings Co. Ltd. 1,200 142,735 
Nitto Denko Corp. 2,400 129,054 
NKSJ Holdings, Inc. 4,900 183,032 
Nomura Holdings, Inc. 54,600 206,728 
Nomura Real Estate Holdings, Inc. 2,000 42,282 
Nomura Real Estate Master Fund, Inc. 60 87,850 
Nomura Research Institute Ltd. 1,600 77,993 
NSK Ltd. 4,900 50,586 
NTT Data Corp. 9,900 115,002 
NTT DOCOMO, Inc. 20,100 436,483 
Obayashi Corp. 10,400 101,671 
OBIC Co. Ltd. 1,000 115,445 
Odakyu Electric Railway Co. Ltd. 4,300 100,904 
Oji Holdings Corp. 13,500 80,713 
Olympus Corp. 17,700 197,664 
OMRON Corp. 3,000 160,241 
Ono Pharmaceutical Co. Ltd. 6,700 125,074 
Oracle Corp. Japan 500 34,158 
Oriental Land Co. Ltd. 3,000 330,446 
ORIX Corp. 20,200 284,971 
Osaka Gas Co. Ltd. 5,600 103,308 
Otsuka Corp. 1,400 54,922 
Otsuka Holdings Co. Ltd. 6,200 220,906 
Pan Pacific International Hold 1,800 115,858 
Panasonic Corp. 34,200 314,920 
Park24 Co. Ltd. 1,700 35,604 
Persol Holdings Co., Ltd. 2,600 48,641 
Pigeon Corp. 1,800 76,188 
Pola Orbis Holdings, Inc. 1,300 40,846 
Rakuten, Inc. 13,400 148,561 
Recruit Holdings Co. Ltd. 16,700 499,074 
Renesas Electronics Corp. (a) 11,600 61,751 
Resona Holdings, Inc. 30,500 128,604 
Ricoh Co. Ltd. 9,900 99,804 
Rinnai Corp. 600 40,289 
ROHM Co. Ltd. 1,500 109,745 
Ryohin Keikaku Co. Ltd. 400 75,910 
Sankyo Co. Ltd. (Gunma) 600 23,619 
Santen Pharmaceutical Co. Ltd. 5,800 88,201 
SBI Holdings, Inc. Japan 3,500 74,559 
Secom Co. Ltd. 3,200 268,249 
Sega Sammy Holdings, Inc. 2,300 28,989 
Seibu Holdings, Inc. 3,800 61,642 
Seiko Epson Corp. 4,400 70,269 
Sekisui Chemical Co. Ltd. 5,500 87,935 
Sekisui House Ltd. 9,000 144,782 
Seven & i Holdings Co. Ltd. 11,500 397,984 
Seven Bank Ltd. 9,200 24,942 
SG Holdings Co. Ltd. 1,500 40,060 
Sharp Corp. 2,800 31,068 
Shimadzu Corp. 3,500 93,442 
Shimamura Co. Ltd. 300 22,326 
SHIMANO, Inc. 1,100 160,860 
SHIMIZU Corp. 7,600 64,746 
Shin-Etsu Chemical Co. Ltd. 5,500 520,985 
Shinsei Bank Ltd. 2,900 40,144 
Shionogi & Co. Ltd. 4,300 249,982 
Shiseido Co. Ltd. 5,800 453,920 
Shizuoka Bank Ltd. 5,800 44,257 
Showa Denko K.K. 2,200 74,357 
SMC Corp. 900 372,135 
SoftBank Corp. 12,500 1,325,392 
SoftBank Corp. 25,500 300,337 
Sohgo Security Services Co., Ltd. 1,100 48,929 
Sony Corp. 19,300 972,105 
Sony Financial Holdings, Inc. 2,500 50,878 
Stanley Electric Co. Ltd. 1,800 48,638 
Subaru Corp. 9,400 229,568 
Sumco Corp. 3,300 43,251 
Sumitomo Chemical Co. Ltd. 22,300 110,504 
Sumitomo Corp. 17,500 249,708 
Sumitomo Electric Industries Ltd. 10,900 144,280 
Sumitomo Heavy Industries Ltd. 1,500 52,852 
Sumitomo Metal Mining Co. Ltd. 3,700 115,555 
Sumitomo Mitsui Financial Group, Inc. 19,900 723,290 
Sumitomo Mitsui Trust Holdings, Inc. 5,100 177,945 
Sumitomo Realty & Development Co. Ltd. 5,400 198,898 
Sumitomo Rubber Industries Ltd. 3,200 39,269 
Sundrug Co. Ltd. 900 24,044 
Suntory Beverage & Food Ltd. 2,200 96,773 
Suzuken Co. Ltd. 1,000 57,453 
Suzuki Motor Corp. 5,300 240,985 
Sysmex Corp. 2,600 148,258 
T&D Holdings, Inc. 8,300 89,151 
Taiheiyo Cement Corp. 1,700 54,482 
Taisei Corp. 3,100 135,666 
Taisho Pharmaceutical Holdings Co. Ltd. 600 55,371 
Taiyo Nippon Sanso Corp. 1,900 31,537 
Takashimaya Co. Ltd. 2,200 24,667 
Takeda Pharmaceutical Co. Ltd. 22,477 829,440 
TDK Corp. 1,900 165,277 
Teijin Ltd. 2,400 41,086 
Terumo Corp. 9,300 279,430 
THK Co. Ltd. 1,700 44,348 
Tobu Railway Co. Ltd. 3,200 90,202 
Toho Co. Ltd. 1,800 75,219 
Toho Gas Co. Ltd. 1,100 45,226 
Tohoku Electric Power Co., Inc. 6,400 73,080 
Tokio Marine Holdings, Inc. 9,800 492,837 
Tokyo Century Corp. 700 32,174 
Tokyo Electric Power Co., Inc. (a) 20,800 117,262 
Tokyo Electron Ltd. 2,400 380,161 
Tokyo Gas Co. Ltd. 5,500 139,580 
Tokyu Corp. 7,200 117,118 
Tokyu Fudosan Holdings Corp. 10,400 58,444 
Toppan Printing Co. Ltd. 3,400 54,970 
Toray Industries, Inc. 20,300 138,914 
Toshiba Corp. 9,900 328,830 
Tosoh Corp. 3,700 59,289 
Toto Ltd. 2,200 92,625 
Toyo Seikan Group Holdings Ltd. 2,000 39,840 
Toyo Suisan Kaisha Ltd. 1,400 53,225 
Toyoda Gosei Co. Ltd. 1,000 20,737 
Toyota Industries Corp. 2,100 118,767 
Toyota Motor Corp. 34,200 2,117,338 
Toyota Tsusho Corp. 3,100 102,410 
Trend Micro, Inc. 1,800 89,842 
Tsuruha Holdings, Inc. 600 51,008 
Unicharm Corp. 6,300 206,371 
United Urban Investment Corp. 39 62,249 
USS Co. Ltd. 3,000 57,256 
Welcia Holdings Co. Ltd. 600 23,565 
West Japan Railway Co. 2,500 185,421 
Yahoo! Japan Corp. 43,900 116,652 
Yakult Honsha Co. Ltd. 1,800 121,998 
Yamada Denki Co. Ltd. 10,200 48,255 
Yamaguchi Financial Group, Inc. 2,600 19,139 
Yamaha Corp. 2,000 103,236 
Yamaha Motor Co. Ltd. 4,200 86,266 
Yamato Holdings Co. Ltd. 4,500 97,457 
Yamazaki Baking Co. Ltd. 1,700 25,211 
Yaskawa Electric Corp. 3,600 132,340 
Yokogawa Electric Corp. 3,200 66,588 
Yokohama Rubber Co. Ltd. 1,600 30,062 
Zozo, Inc. 2,800 49,392 
TOTAL JAPAN  50,037,095 
Korea (South) - 3.0%   
AMOREPACIFIC Corp. 499 89,168 
AMOREPACIFIC Group, Inc. 373 24,097 
BGF Retail Co. Ltd. 113 21,212 
BS Financial Group, Inc. 3,301 19,880 
Celltrion Healthcare Co. Ltd. 659 42,801 
Celltrion Pharm, Inc. 261 13,319 
Celltrion, Inc. (a) 1,283 233,672 
Cheil Industries, Inc. 1,214 106,902 
Cheil Worldwide, Inc. 1,027 22,454 
CJ CheilJedang Corp. 137 37,074 
CJ Corp. 198 20,327 
CJ O Shopping Co. Ltd. 154 28,961 
Daelim Industrial Co. 380 31,601 
Daewoo Engineering & Construction Co. Ltd. (a) 2,565 11,106 
Daewoo Shipbuilding & Marine Engineering Co. Ltd. (a) 518 12,928 
Db Insurance Co. Ltd. (a) 654 38,431 
DGB Financial Group Co. Ltd. 1,816 13,136 
Doosan Bobcat, Inc. 495 13,587 
E-Mart Co. Ltd. 363 53,639 
Fila Korea Ltd. 646 45,730 
GS Engineering & Construction Corp. 814 28,392 
GS Holdings Corp. 640 28,591 
GS Retail Co. Ltd. 369 12,411 
Hana Financial Group, Inc. 4,669 147,610 
Hankook Tire Co. Ltd. 1,203 41,081 
Hanmi Pharm Co. Ltd. 107 39,941 
Hanmi Science Co. Ltd. 204 13,179 
Hanon Systems 2,484 26,782 
Hanwha Chemical Corp. 1,727 30,563 
Hanwha Corp. 731 18,589 
Hanwha Life Insurance Co. Ltd. 2,972 10,187 
HDC Hyundai Development Co. 456 18,256 
HLB, Inc. (a) 474 34,165 
Hotel Shilla Co. 466 46,039 
Hyundai Department Store Co. Ltd. 150 13,080 
Hyundai Engineering & Construction Co. Ltd. 1,093 49,297 
Hyundai Fire & Marine Insurance Co. Ltd. 900 29,574 
Hyundai Glovis Co. Ltd. 317 43,437 
Hyundai Heavy Industries Co. Ltd. (a) 592 63,319 
Hyundai Mobis 1,045 208,729 
Hyundai Motor Co. 1,061 126,243 
Hyundai Robotics Co. Ltd. 135 39,665 
Hyundai Steel Co. 1,066 42,402 
Industrial Bank of Korea 3,595 43,702 
ING Life Insurance Korea Ltd. (b) 466 14,252 
Kakao Corp. 826 85,154 
Kangwon Land, Inc. 1,580 46,151 
KB Financial Group, Inc. 6,135 243,104 
KCC Corp. 82 25,008 
Kia Motors Corp. 3,901 151,648 
Korea Aerospace Industries Ltd. 1,194 35,902 
Korea Electric Power Corp. 3,788 92,028 
Korea Express Co. Ltd. (a) 114 15,425 
Korea Gas Corp. (a) 377 14,947 
Korea Investment Holdings Co. Ltd. 744 43,719 
Korea Zinc Co. Ltd. 142 55,201 
Korean Air Lines Co. Ltd. 866 24,663 
KT Corp. sponsored ADR 185 2,226 
KT&G Corp. 1,844 161,586 
Kumho Petro Chemical Co. Ltd. (a) 268 21,136 
LG Chemical Ltd. 720 223,297 
LG Corp. 1,427 89,493 
LG Display Co. Ltd. 3,237 55,240 
LG Electronics, Inc. 1,552 101,066 
LG Household & Health Care Ltd. 145 177,138 
LG Innotek Co. Ltd. 250 26,310 
LG Telecom Ltd. 2,479 30,455 
Lotte Chemical Corp. 279 64,356 
Lotte Confectionery Co. Ltd. (a) 319 13,442 
Lotte Shopping Co. Ltd. 145 22,173 
Medy-Tox, Inc. 62 29,780 
Mirae Asset Daewoo Co. Ltd. 7,337 49,165 
NAVER Corp. 2,157 221,443 
NCSOFT Corp. 264 119,298 
Netmarble Corp. (b) 327 35,818 
Oci Co. Ltd. 238 19,036 
Orion Corp./Republic of Korea 309 25,723 
Ottogi Corp. 18 11,227 
Pearl Abyss Corp. (a) 89 13,327 
POSCO 1,212 266,231 
POSCO Chemtech Co. Ltd. 330 16,245 
Posco International Corp. 544 8,553 
S-Oil Corp. 608 48,159 
S1 Corp. 306 25,763 
Samsung Biologics Co. Ltd. (a)(b) 244 71,271 
Samsung Card Co. Ltd. 466 14,853 
Samsung Electro-Mechanics Co. Ltd. 863 80,442 
Samsung Electronics Co. Ltd. 72,464 2,854,335 
Samsung Engineering Co. Ltd. (a) 2,035 29,808 
Samsung Fire & Marine Insurance Co. Ltd. 445 116,219 
Samsung Heavy Industries Co. Ltd. (a) 5,973 42,180 
Samsung Life Insurance Co. Ltd. 957 69,801 
Samsung SDI Co. Ltd. 803 163,151 
Samsung SDS Co. Ltd. 512 95,449 
Samsung Securities Co. Ltd. 877 26,860 
Shinhan Financial Group Co. Ltd. 6,566 249,044 
Shinsegae Co. Ltd. 98 28,625 
SillaJen, Inc. (a) 1,021 57,365 
SK C&C Co. Ltd. 459 101,145 
SK Energy Co. Ltd. 939 147,222 
SK Hynix, Inc. 8,844 600,232 
SK Telecom Co. Ltd. 330 70,244 
STX Pan Ocean Co. Ltd. (Korea) (a) 2,748 11,249 
ViroMed Co. Ltd. (a) 194 43,383 
Woongjin Coway Co. Ltd. 831 62,681 
Woori Financial Group, Inc. (a) 6,762 80,458 
Woori Investment & Securities Co. Ltd. 2,248 26,555 
Yuhan Corp. 142 29,949 
TOTAL KOREA (SOUTH)  9,832,668 
Luxembourg - 0.2%   
ArcelorMittal SA (Netherlands) 10,198 221,075 
Aroundtown SA 11,167 90,505 
Eurofins Scientific SA 177 80,997 
Millicom International Cellular SA (depository receipt) 1,018 59,545 
Reinet Investments SCA 2,394 40,327 
RTL Group SA 532 29,894 
SES SA (France) (depositary receipt) 5,465 92,985 
Tenaris SA 7,252 100,526 
TOTAL LUXEMBOURG  715,854 
Malaysia - 0.5%   
AirAsia Group BHD 23,400 15,451 
Alliance Bank Malaysia Bhd 16,600 16,301 
AMMB Holdings Bhd 27,600 29,840 
Axiata Group Bhd 36,385 34,937 
British American Tobacco (Malaysia) Bhd 2,200 18,549 
Bumiputra-Commerce Holdings Bhd 70,540 89,913 
Dialog Group Bhd 51,900 40,420 
DiGi.com Bhd 42,600 47,396 
Fraser & Neave Holdings BHD 2,500 21,103 
Gamuda Bhd 31,100 26,327 
Genting Bhd 29,900 50,912 
Genting Malaysia Bhd 38,400 29,535 
Genting Plantations Bhd 1,900 4,834 
Hap Seng Consolidated Bhd 8,000 19,117 
Hartalega Holdings Bhd 20,300 24,697 
Hong Leong Bank Bhd 10,900 52,674 
Hong Leong Credit Bhd 3,600 16,735 
IHH Healthcare Bhd 34,400 46,260 
IJM Corp. Bhd 42,700 24,167 
IOI Corp. Bhd 25,600 27,925 
IOI Properties Group Bhd 15,700 5,202 
Kuala Lumpur Kepong Bhd 5,500 32,911 
Malayan Banking Bhd 55,030 123,117 
Malaysia Airports Holdings Bhd 12,700 23,437 
Maxis Bhd 32,300 41,874 
MISC Bhd 18,900 31,542 
Nestle (Malaysia) BHD 1,100 38,870 
Petronas Chemicals Group Bhd 39,100 85,113 
Petronas Dagangan Bhd 2,700 15,791 
Petronas Gas Bhd 9,500 40,624 
PPB Group Bhd 7,640 34,666 
Press Metal Bhd 19,800 22,748 
Public Bank Bhd 44,700 243,258 
QL Resources Bhd 9,800 16,165 
RHB Capital Bhd 17,900 25,803 
Sime Darby Bhd 31,300 17,563 
Sime Darby Plantation Bhd 32,200 40,187 
Sime Darby Property Bhd 35,100 9,423 
SP Setia Bhd 21,277 11,682 
Telekom Malaysia Bhd 19,300 13,584 
Tenaga Nasional Bhd 49,000 145,536 
Top Glove Corp. Bhd 20,200 23,793 
Westports Holdings Bhd 20,400 18,750 
YTL Corp. Bhd 34,500 9,429 
TOTAL MALAYSIA  1,708,161 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 99,100 21,130 
Mexico - 0.7%   
Alfa SA de CV Series A 43,200 43,661 
Alsea S.A.B. de CV 6,900 15,425 
America Movil S.A.B. de CV Series L 515,100 383,654 
Banco Santander Mexico SA 28,285 47,505 
CEMEX S.A.B. de CV unit (a) 220,780 102,135 
Coca-Cola FEMSA S.A.B. de CV unit 9,300 59,324 
El Puerto de Liverpool S.A.B. de CV Class C 2,500 16,183 
Embotelladoras Arca S.A.B. de CV 6,100 34,625 
Fibra Uno Administracion SA de CV 49,800 74,236 
Fomento Economico Mexicano S.A.B. de CV unit 30,100 293,621 
Gruma S.A.B. de CV Series B 2,975 29,736 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 5,600 56,940 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 3,545 58,389 
Grupo Bimbo S.A.B. de CV Series A 25,400 56,567 
Grupo Carso SA de CV Series A1 6,600 25,592 
Grupo Financiero Banorte S.A.B. de CV Series O 39,600 250,308 
Grupo Financiero Inbursa S.A.B. de CV Series O 31,400 48,066 
Grupo Mexico SA de CV Series B 51,500 151,014 
Grupo Televisa SA de CV 36,500 74,241 
Industrias Penoles SA de CV 1,815 20,830 
Infraestructura Energetica Nova S.A.B. de CV 7,000 30,599 
Kimberly-Clark de Mexico SA de CV Series A 21,000 36,300 
Megacable Holdings S.A.B. de CV unit 4,100 18,061 
Mexichem S.A.B. de CV 17,800 41,322 
Promotora y Operadora de Infraestructura S.A.B. de CV 3,475 35,348 
Wal-Mart de Mexico SA de CV Series V 80,500 236,561 
TOTAL MEXICO  2,240,243 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 46,500 45,523 
HKT Trust/HKT Ltd. unit 59,000 91,454 
TOTAL MULTI-NATIONAL  136,977 
Netherlands - 3.2%   
ABN AMRO Group NV GDR (b) 6,148 144,601 
Adyen BV (b) 152 123,703 
AEGON NV 26,227 136,909 
AerCap Holdings NV (a) 1,964 97,493 
Airbus Group NV 8,785 1,202,927 
Akzo Nobel NV 3,453 293,177 
ASML Holding NV (Netherlands) 6,195 1,289,190 
CNH Industrial NV 15,782 171,134 
EXOR NV 1,611 107,257 
Ferrari NV 1,856 251,364 
Fiat Chrysler Automobiles NV 16,597 255,661 
Heineken Holding NV 1,740 176,716 
Heineken NV (Bearer) 3,893 420,221 
ING Groep NV (Certificaten Van Aandelen) 58,992 752,740 
Koninklijke Ahold Delhaize NV 17,865 430,575 
Koninklijke DSM NV 2,770 316,809 
Koninklijke KPN NV 51,739 159,012 
Koninklijke Philips Electronics NV 14,036 602,758 
NN Group NV 4,720 205,511 
NXP Semiconductors NV 5,249 554,399 
QIAGEN NV (Germany) (a) 3,669 141,685 
Randstad NV 1,731 98,861 
STMicroelectronics NV (France) 10,013 183,886 
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit 2,094 359,928 
Unilever NV (Certificaten Van Aandelen) (Bearer) 23,164 1,401,528 
Vopak NV 1,082 48,239 
Wolters Kluwer NV 4,225 294,656 
X5 Retail Group NV GDR 1,707 51,825 
TOTAL NETHERLANDS  10,272,765 
New Zealand - 0.2%   
Auckland International Airport Ltd. 13,496 71,841 
Fisher & Paykel Healthcare Corp. 8,684 91,699 
Fletcher Building Ltd. 10,899 37,562 
Meridian Energy Ltd. 17,677 47,934 
Ryman Healthcare Group Ltd. 6,424 52,131 
Spark New Zealand Ltd. 27,995 68,621 
The a2 Milk Co. Ltd. (a) 10,882 121,886 
TOTAL NEW ZEALAND  491,674 
Norway - 0.5%   
Aker Bp ASA 1,606 52,960 
DNB ASA 14,350 275,525 
Equinor ASA 17,520 390,814 
Gjensidige Forsikring ASA 2,536 49,251 
Marine Harvest ASA 6,841 148,199 
Norsk Hydro ASA 20,893 89,988 
Orkla ASA 12,173 95,437 
Schibsted ASA (B Shares) 1,580 37,799 
Telenor ASA 11,093 222,697 
Yara International ASA 2,635 118,839 
TOTAL NORWAY  1,481,509 
Pakistan - 0.0%   
Habib Bank Ltd. 5,100 4,595 
MCB Bank Ltd. 2,900 3,899 
Oil & Gas Development Co. Ltd. 7,600 7,572 
TOTAL PAKISTAN  16,066 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 20,037 109,893 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 2,530 41,011 
Philippines - 0.3%   
Aboitiz Equity Ventures, Inc. 27,490 29,529 
Aboitiz Power Corp. 23,800 17,335 
Alliance Global Group, Inc. 65,700 18,989 
Ayala Corp. 3,410 59,556 
Ayala Land, Inc. 110,300 104,312 
Bank of the Philippine Islands (BPI) 13,010 21,327 
BDO Unibank, Inc. 29,510 76,398 
DMCI Holdings, Inc. 56,200 12,117 
Globe Telecom, Inc. 475 16,335 
GT Capital Holdings, Inc. 1,433 23,948 
International Container Terminal Services, Inc. 15,330 37,466 
JG Summit Holdings, Inc. 47,720 60,849 
Jollibee Food Corp. 7,860 46,255 
Manila Electric Co. 2,540 18,893 
Megaworld Corp. 204,000 22,071 
Metro Pacific Investments Corp. 171,400 15,133 
Metropolitan Bank & Trust Co. 21,090 30,254 
Philippine Long Distance Telephone Co. 1,045 24,821 
Robinsons Land Corp. 40,000 18,934 
Security Bank Corp. 3,710 12,902 
SM Investments Corp. 3,270 60,017 
SM Prime Holdings, Inc. 152,000 121,723 
Universal Robina Corp. 15,300 45,019 
TOTAL PHILIPPINES  894,183 
Poland - 0.3%   
Alior Bank SA (a) 1,294 19,860 
Bank Handlowy w Warszawie SA 256 4,167 
Bank Millennium SA (a) 7,335 18,513 
Bank Polska Kasa Opieki SA 2,743 81,613 
Bank Zachodni WBK SA 473 49,114 
BRE Bank SA 212 24,576 
CD Projekt RED SA 1,007 56,629 
Cyfrowy Polsat SA (a) 4,286 29,721 
Dino Polska SA (a)(b) 553 18,378 
Grupa Lotos SA 1,292 28,116 
Jastrzebska Spolka Weglowa SA (a) 644 9,783 
KGHM Polska Miedz SA (Bearer) (a) 2,278 61,310 
LPP SA 21 47,067 
NG2 SA 383 20,786 
Polish Oil & Gas Co. SA 22,984 34,884 
Polska Grupa Energetyczna SA (a) 13,686 34,095 
Polski Koncern Naftowy Orlen SA 4,480 114,795 
Powszechna Kasa Oszczednosci Bank SA 12,690 130,305 
Powszechny Zaklad Ubezpieczen SA 9,524 104,674 
Telekomunikacja Polska SA (a) 9,824 12,689 
TOTAL POLAND  901,075 
Portugal - 0.1%   
Energias de Portugal SA 39,387 149,272 
Galp Energia SGPS SA Class B 7,289 122,385 
Jeronimo Martins SGPS SA 4,080 66,445 
TOTAL PORTUGAL  338,102 
Qatar - 0.2%   
Barwa Real Estate Co. (a) 2,604 24,826 
Ezdan Holding Group (a) 11,326 33,318 
Industries Qatar QSC (a) 2,703 89,834 
Masraf al Rayan (a) 6,206 61,877 
Qatar Electricity & Water Co. (a) 637 29,217 
Qatar Insurance Co. SAQ (a) 2,048 21,561 
Qatar Islamic Bank (a) 1,826 83,608 
Qatar National Bank SAQ (a) 6,863 369,451 
Qatar Telecom (Qtel) Q.S.C. (a) 1,160 20,710 
The Commercial Bank of Qatar (a) 2,929 40,949 
TOTAL QATAR  775,351 
Russia - 0.9%   
Alrosa Co. Ltd. 39,460 57,509 
Gazprom OAO 137,060 348,301 
Gazprom OAO sponsored ADR (Reg. S) 12,184 60,847 
Inter Rao Ues JSC 426,000 25,828 
Lukoil PJSC 6,290 536,773 
Lukoil PJSC sponsored ADR 1,089 92,325 
Magnit OJSC GDR (Reg. S) 5,537 78,958 
Magnitogorsk Iron & Steel Works PJSC 32,900 22,491 
MMC Norilsk Nickel PJSC 828 183,666 
MMC Norilsk Nickel PJSC sponsored ADR 1,346 29,881 
Mobile TeleSystems OJSC sponsored ADR 7,166 56,468 
Moscow Exchange MICEX-RTS OAO 24,180 34,051 
NOVATEK OAO GDR (Reg. S) 1,398 269,395 
Novolipetsk Steel OJSC 15,320 40,541 
PhosAgro OJSC GDR (Reg. S) 1,882 23,694 
Polyus PJSC 375 29,217 
Rosneft Oil Co. OJSC 14,830 98,353 
Rosneft Oil Co. OJSC GDR (Reg. S) 2,345 15,599 
RusHydro PJSC rights (a) 35,762 0 
Sberbank of Russia 162,965 570,924 
Severstal PAO 2,250 36,372 
Severstal PAO GDR (Reg. S) 592 9,584 
Surgutneftegas OJSC 46,800 17,781 
Tatneft PAO 20,480 239,940 
Tatneft PAO sponsored ADR 513 36,043 
VTB Bank OJSC (a) 50,370,000 27,656 
TOTAL RUSSIA  2,942,197 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 43,800 96,611 
BOC Aviation Ltd. Class A (b) 3,000 25,813 
CapitaCommercial Trust (REIT) 41,200 58,766 
CapitaLand Ltd. 38,400 99,663 
CapitaMall Trust 39,300 69,926 
City Developments Ltd. 7,500 49,298 
ComfortDelgro Corp. Ltd. 30,500 60,323 
DBS Group Holdings Ltd. 27,002 560,846 
Jardine Cycle & Carriage Ltd. 1,400 36,562 
Keppel Corp. Ltd. 21,800 108,511 
Oversea-Chinese Banking Corp. Ltd. 48,252 429,269 
Sembcorp Industries Ltd. 13,300 26,011 
Singapore Airlines Ltd. 7,700 54,802 
Singapore Airport Terminal Service Ltd. 9,800 37,684 
Singapore Exchange Ltd. 12,400 67,283 
Singapore Press Holdings Ltd. 28,100 51,857 
Singapore Technologies Engineering Ltd. 24,400 71,042 
Singapore Telecommunications Ltd. 122,900 286,444 
Suntec (REIT) 40,300 54,816 
United Overseas Bank Ltd. 20,303 415,435 
UOL Group Ltd. 9,600 53,502 
Venture Corp. Ltd. 4,000 49,908 
Wilmar International Ltd. 25,800 69,048 
Yangzijiang Shipbuilding Holdings Ltd. 32,000 36,938 
TOTAL SINGAPORE  2,870,358 
South Africa - 1.5%   
Anglo American Platinum Ltd. 760 38,357 
AngloGold Ashanti Ltd. 6,289 74,826 
Aspen Pharmacare Holdings Ltd. 5,390 38,772 
Barclays Africa Group Ltd. 10,420 119,650 
Bidcorp Ltd. 4,965 104,843 
Bidvest Group Ltd. 5,485 83,243 
Capitec Bank Holdings Ltd. 626 58,495 
Clicks Group Ltd. 3,652 49,951 
Discovery Ltd. 5,510 55,489 
Exxaro Resources Ltd. 4,104 46,858 
FirstRand Ltd. 51,292 243,498 
Fortress (REIT) Ltd.:   
Class A 15,083 20,318 
Class B 8,037 6,101 
Foschini Ltd. 3,407 44,004 
Gold Fields Ltd. 11,778 44,388 
Growthpoint Properties Ltd. 43,147 75,044 
Hyprop Investments Ltd. 3,649 17,856 
Investec Ltd. 4,433 28,309 
Kumba Iron Ore Ltd. 1,106 33,141 
Liberty Holdings Ltd. 1,267 9,167 
Life Healthcare Group Holdings Ltd. 18,414 33,533 
MMI Holdings Ltd. (a) 10,640 13,277 
Mondi Ltd. 1,964 43,288 
Mr Price Group Ltd. 4,153 62,892 
MTN Group Ltd. 25,974 187,692 
MultiChoice Group Ltd. (a) 6,852 61,527 
Naspers Ltd. Class N 6,618 1,702,484 
Nedbank Group Ltd. 5,904 109,809 
Netcare Ltd. 22,090 37,030 
Oceana Group Ltd. 586 2,868 
Old Mutual Ltd. 73,204 117,648 
Pick 'n Pay Stores Ltd. 5,574 27,030 
PSG Group Ltd. 2,540 47,068 
Rand Merchant Insurance Holdings Ltd. 9,698 23,477 
Redefine Properties Ltd. 81,192 55,906 
Remgro Ltd. 7,831 106,284 
Resilient Property Income Fund Ltd. 4,540 18,020 
RMB Holdings Ltd. 11,778 68,733 
Sanlam Ltd. 27,690 148,080 
Sappi Ltd. 8,587 40,927 
Sasol Ltd. 8,527 282,896 
Shoprite Holdings Ltd. 6,747 81,285 
Spar Group Ltd. 2,603 35,301 
Standard Bank Group Ltd. 19,735 274,538 
Telkom SA Ltd. 4,772 28,285 
Tiger Brands Ltd. 2,268 39,391 
Truworths International Ltd. 7,343 38,802 
Vodacom Group Ltd. 9,413 75,883 
Woolworths Holdings Ltd. 13,508 45,052 
TOTAL SOUTH AFRICA  5,001,316 
Spain - 2.0%   
ACS Actividades de Construccion y Servicios SA 3,901 179,392 
Aena Sme SA (b) 1,029 190,835 
Amadeus IT Holding SA Class A 6,620 526,580 
Banco Bilbao Vizcaya Argentaria SA 101,064 614,555 
Banco de Sabadell SA 85,425 99,262 
Banco Santander SA (Spain) 245,079 1,240,124 
Bankia SA 16,975 46,932 
Bankinter SA 10,294 82,183 
CaixaBank SA 55,212 175,988 
Enagas SA 3,614 102,958 
Endesa SA 4,578 114,041 
Ferrovial SA 7,387 181,944 
Gas Natural SDG SA 4,944 140,404 
Grifols SA 4,699 130,390 
Iberdrola SA 93,271 847,590 
Inditex SA 16,485 498,664 
MAPFRE SA (Reg.) 15,130 45,394 
Red Electrica Corporacion SA 6,296 130,666 
Repsol SA 21,231 360,262 
Siemens Gamesa Renewable Energy SA 3,392 60,833 
Telefonica SA 70,603 588,642 
TOTAL SPAIN  6,357,639 
Sweden - 1.6%   
Alfa Laval AB 4,317 100,205 
ASSA ABLOY AB (B Shares) 15,171 324,319 
Atlas Copco AB:   
(A Shares) 9,958 310,832 
(B Shares) 6,121 174,339 
Boliden AB 4,062 120,885 
Electrolux AB (B Shares) 3,811 93,401 
Epiroc AB:   
Class A 10,272 106,188 
Class B 5,744 56,841 
Essity AB Class B 9,219 273,352 
H&M Hennes & Mauritz AB (B Shares) 13,309 232,228 
Hexagon AB (B Shares) 4,004 218,747 
Husqvarna AB (B Shares) 5,817 53,111 
ICA Gruppen AB 1,043 37,740 
Industrivarden AB (C Shares) 2,303 51,828 
Investor AB (B Shares) 6,523 311,093 
Kinnevik AB (B Shares) 3,868 112,719 
Lundbergfoeretagen AB 1,103 37,725 
Lundin Petroleum AB 2,757 89,785 
Sandvik AB 17,196 318,442 
Securitas AB (B Shares) 4,778 83,551 
Skandinaviska Enskilda Banken AB (A Shares) 24,820 236,972 
Skanska AB (B Shares) 4,976 86,653 
SKF AB (B Shares) 5,737 106,490 
Svenska Handelsbanken AB (A Shares) 22,948 250,663 
Swedbank AB (A Shares) 13,771 225,007 
Swedish Match Co. AB 2,546 124,142 
Tele2 AB (B Shares) 7,737 103,363 
Telefonaktiebolaget LM Ericsson (B Shares) 46,670 461,668 
TeliaSonera AB 42,427 180,761 
Volvo AB (B Shares) 23,663 379,234 
TOTAL SWEDEN  5,262,284 
Switzerland - 5.7%   
ABB Ltd. (Reg.) 28,051 576,973 
Adecco SA (Reg.) 2,324 133,471 
Alcon, Inc. (a) 6,227 358,605 
Baloise Holdings AG 711 121,832 
Barry Callebaut AG 29 53,108 
Clariant AG (Reg.) 3,577 73,509 
Coca-Cola HBC AG 3,074 109,873 
Compagnie Financiere Richemont SA Series A 7,926 579,409 
Credit Suisse Group AG 39,253 522,022 
Dufry AG 463 45,230 
Ems-Chemie Holding AG 114 69,030 
Galenica AG 715 93,467 
Geberit AG (Reg.) 567 237,773 
Givaudan SA 139 359,999 
Julius Baer Group Ltd. 3,330 160,855 
Kuehne & Nagel International AG 825 119,870 
Lafargeholcim Ltd. (Reg.) 7,393 380,044 
Lindt & Spruengli AG 2 151,725 
Lindt & Spruengli AG (participation certificate) 16 106,384 
Lonza Group AG 1,140 352,065 
Nestle SA (Reg. S) 46,046 4,433,182 
Novartis AG 32,730 2,681,899 
Pargesa Holding SA 505 39,748 
Partners Group Holding AG 266 200,384 
Roche Holding AG (participation certificate) 10,603 2,797,743 
Schindler Holding AG:   
(participation certificate) 669 144,312 
(Reg.) 274 58,191 
SGS SA (Reg.) 82 216,361 
Sika AG 1,951 298,696 
Sonova Holding AG Class B 857 172,838 
Straumann Holding AG 151 121,903 
Swatch Group AG (Bearer) 460 140,490 
Swatch Group AG (Bearer) (Reg.) 1,020 59,862 
Swiss Life Holding AG 521 244,969 
Swiss Prime Site AG 1,115 89,511 
Swiss Re Ltd. 4,505 433,545 
Swisscom AG 399 185,883 
Temenos Group AG 873 145,136 
UBS Group AG 58,475 784,200 
Zurich Insurance Group Ltd. 2,226 709,777 
TOTAL SWITZERLAND  18,563,874 
Taiwan - 2.8%   
Acer, Inc. 39,000 26,440 
Advantech Co. Ltd. 5,000 40,450 
ASE Technology Holding Co. Ltd. 51,500 119,627 
Asia Cement Corp. 29,000 39,180 
ASUSTeK Computer, Inc. 10,000 76,370 
AU Optronics Corp. 118,000 42,200 
Catcher Technology Co. Ltd. 10,000 79,121 
Cathay Financial Holding Co. Ltd. 128,000 185,153 
Chang Hwa Commercial Bank 96,080 57,520 
Cheng Shin Rubber Industry Co. Ltd. 25,000 33,372 
Chicony Electronics Co. Ltd. 10,030 24,700 
China Airlines Ltd. 40,000 12,685 
China Development Finance Holding Corp. 229,000 73,735 
China Life Insurance Co. Ltd. 49,726 41,355 
China Steel Corp. 184,000 148,560 
Chinatrust Financial Holding Co. Ltd. 255,000 174,528 
Chunghwa Telecom Co. Ltd. 55,000 198,116 
Compal Electronics, Inc. 53,000 34,216 
Delta Electronics, Inc. 33,000 173,532 
E.SUN Financial Holdings Co. Ltd. 143,879 118,029 
ECLAT Textile Co. Ltd. 3,000 42,716 
EVA Airways Corp. 31,010 15,203 
Evergreen Marine Corp. (Taiwan) 46,866 20,550 
Far Eastern Textile Ltd. 48,000 52,346 
Far EasTone Telecommunications Co. Ltd. 22,000 53,964 
Feng Tay Enterprise Co. Ltd. 6,000 48,638 
First Financial Holding Co. Ltd. 145,171 103,586 
Formosa Chemicals & Fibre Corp. 51,000 183,192 
Formosa Petrochemical Corp. 21,000 77,811 
Formosa Plastics Corp. 69,000 250,081 
Formosa Taffeta Co. Ltd. 13,000 15,671 
Foxconn Technology Co. Ltd. 12,000 26,872 
Fubon Financial Holding Co. Ltd. 97,000 143,136 
Giant Manufacturing Co. Ltd. 5,000 38,104 
GlobalWafers Co. Ltd. 3,000 32,716 
Highwealth Construction Corp. 12,000 19,203 
HIWIN Technologies Corp. 3,128 29,709 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 199,800 561,861 
Hotai Motor Co. Ltd. 4,000 60,449 
Hua Nan Financial Holdings Co. Ltd. 98,366 64,300 
Innolux Corp. 126,000 40,366 
Inventec Corp. 34,000 27,286 
Largan Precision Co. Ltd. 1,000 150,476 
Lite-On Technology Corp. 30,000 42,279 
MediaTek, Inc. 24,000 229,500 
Mega Financial Holding Co. Ltd. 159,000 152,558 
Micro-Star International Co. Ltd. 9,000 24,930 
Nan Ya Plastics Corp. 75,000 189,551 
Nanya Technology Corp. 14,000 29,629 
Nien Made Enterprise Co. Ltd. 2,000 15,662 
Novatek Microelectronics Corp. 8,000 52,165 
Pegatron Corp. 28,000 52,825 
Phison Electronics Corp. 2,000 18,801 
Pou Chen Corp. 41,000 49,820 
Powertech Technology, Inc. 11,000 27,409 
President Chain Store Corp. 9,000 83,878 
Quanta Computer, Inc. 46,000 88,124 
Realtek Semiconductor Corp. 8,000 54,107 
Ruentex Development Co. Ltd. 9,000 12,349 
Ruentex Industries Ltd. 4,800 11,463 
Shin Kong Financial Holding Co. Ltd. 146,454 41,422 
Sinopac Holdings Co. 145,100 55,876 
Standard Foods Corp. 7,000 12,391 
Synnex Technology International Corp. 19,000 23,672 
TaiMed Biologics, Inc. (a) 2,000 10,161 
Taishin Financial Holdings Co. Ltd. 164,879 74,698 
Taiwan Business Bank 53,040 21,884 
Taiwan Cement Corp. 74,700 101,527 
Taiwan Cooperative Financial Holding Co. Ltd. 129,975 86,224 
Taiwan High Speed Rail Corp. 29,000 35,286 
Taiwan Mobile Co. Ltd. 24,000 87,761 
Taiwan Semiconductor Manufacturing Co. Ltd. 371,000 3,114,827 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 202 8,852 
Tatung Co. Ltd. (a) 25,000 19,254 
The Shanghai Commercial & Savings Bank Ltd. 48,000 77,354 
Unified-President Enterprises Corp. 70,000 166,268 
United Microelectronics Corp. 161,000 70,201 
Vanguard International Semiconductor Corp. 13,000 28,817 
Walsin Technology Corp. 4,000 24,464 
Win Semiconductors Corp. 6,000 40,192 
Winbond Electronics Corp. 41,000 21,295 
Wistron Corp. 38,763 32,112 
WPG Holding Co. Ltd. 18,400 24,264 
Yageo Corp. 3,396 33,463 
Yuanta Financial Holding Co. Ltd. 169,000 97,893 
TOTAL TAIWAN  9,202,333 
Thailand - 0.5%   
Advanced Info Service PCL (For. Reg.) 15,700 93,460 
Airports of Thailand PCL (For. Reg.) 61,800 132,633 
Bangkok Bank PCL (For. Reg.) 3,300 21,609 
Bangkok Dusit Medical Services PCL (For. Reg.) 56,200 44,900 
Bangkok Expressway and Metro PCL 100,900 34,458 
Banpu PCL (For. Reg.) 23,600 12,126 
Berli Jucker PCL (For. Reg) 16,500 26,623 
BTS Group Holdings PCL 75,100 27,765 
Bumrungrad Hospital PCL (For. Reg.) 4,700 26,064 
C.P. ALL PCL (For. Reg.) 72,300 175,554 
Central Pattana PCL (For. Reg.) 21,700 51,331 
Charoen Pokphand Foods PCL (For. Reg.) 44,700 38,163 
Electricity Generating PCL (For. Reg.) 1,800 16,693 
Energy Absolute PCL 18,400 32,139 
Glow Energy PCL (For. Reg.) 6,500 18,634 
Gulf Energy Development PCL 5,700 18,662 
Home Product Center PCL (For. Reg.) 54,000 26,562 
Indorama Ventures PCL (For. Reg.) 21,100 30,244 
IRPC PCL (For. Reg.) 159,300 28,199 
Kasikornbank PCL 3,000 17,953 
Kasikornbank PCL (For. Reg.) 22,500 134,292 
Krung Thai Bank PCL (For. Reg.) 46,300 27,417 
Land & House PCL (For. Reg.) 60,500 21,230 
Minor International PCL (For. Reg.) 35,000 41,122 
Muangthai Leasing PCL 9,000 14,522 
PTT Exploration and Production PCL (For. Reg.) 21,400 89,509 
PTT Global Chemical PCL (For. Reg.) 30,500 65,697 
PTT PCL (For. Reg.) 151,700 231,703 
Robinsons Department Store PCL (For. Reg.) 7,400 13,505 
Siam Cement PCL (For. Reg.) 5,200 75,269 
Siam Commercial Bank PCL (For. Reg.) 26,900 110,407 
Thai Oil PCL (For. Reg.) 14,400 31,243 
Thai Union Frozen Products PCL (For. Reg.) 28,300 16,758 
TMB PCL (For. Reg.) 231,100 14,626 
True Corp. PCL (For. Reg.) 156,300 25,220 
TOTAL THAILAND  1,786,292 
Turkey - 0.1%   
Akbank TAS 42,122 43,203 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 3,349 11,124 
Arcelik A/S (a) 2,523 7,755 
Aselsan A/S 4,548 15,579 
Bim Birlesik Magazalar A/S JSC 2,933 40,823 
Eregli Demir ve Celik Fabrikalari T.A.S. 22,334 34,286 
Ford Otomotiv Sanayi A/S 599 5,290 
Haci Omer Sabanci Holding A/S 12,020 15,511 
Koc Holding A/S 11,610 31,521 
Petkim Petrokimya Holding A/S 13,444 10,071 
TAV Havalimanlari Holding A/S 2,449 10,384 
Tupras Turkiye Petrol Rafinerileri A/S 1,758 36,327 
Turk Hava Yollari AO (a) 10,802 25,906 
Turk Sise ve Cam Fabrikalari A/S 5,790 5,919 
Turkcell Iletisim Hizmet A/S 15,568 32,613 
Turkiye Garanti Bankasi A/S 38,856 53,202 
Turkiye Halk Bankasi A/S 12,295 12,054 
Turkiye Is Bankasi A/S Series C 29,351 26,366 
TOTAL TURKEY  417,934 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 32,931 88,577 
Aldar Properties PJSC 53,244 25,802 
Damac Properties Dubai Co. PJSC 22,847 7,713 
DP World Ltd. 2,719 54,380 
Dubai Islamic Bank Pakistan Ltd. (a) 29,752 41,876 
Emaar Development PJSC (a) 12,943 13,813 
Emaar Malls Group PJSC (a) 25,104 11,892 
Emaar Properties PJSC 55,776 72,887 
Emirates Telecommunications Corp. 25,309 115,068 
National Bank of Abu Dhabi PJSC (a) 39,468 171,920 
TOTAL UNITED ARAB EMIRATES  603,928 
United Kingdom - 10.4%   
3i Group PLC 14,859 207,422 
Admiral Group PLC 3,102 89,152 
Anglo American PLC (United Kingdom) 15,955 412,237 
Antofagasta PLC 6,263 74,156 
Ashtead Group PLC 7,440 205,871 
Associated British Foods PLC 5,162 172,253 
AstraZeneca PLC (United Kingdom) 19,162 1,427,565 
Auto Trader Group PLC (b) 14,343 106,029 
Aviva PLC 60,008 337,013 
Babcock International Group PLC 3,106 21,264 
BAE Systems PLC 48,741 313,272 
Barclays PLC 260,121 558,221 
Barratt Developments PLC 14,943 117,265 
Berkeley Group Holdings PLC 1,958 95,899 
BHP Billiton PLC 31,814 750,956 
BP PLC 301,004 2,188,812 
BP PLC sponsored ADR 219 9,577 
British American Tobacco PLC (United Kingdom) 34,647 1,356,394 
British Land Co. PLC 14,271 110,540 
BT Group PLC 127,581 380,704 
Bunzl PLC 5,224 157,291 
Burberry Group PLC 6,375 167,673 
Carnival PLC 2,617 138,739 
Centrica PLC 81,973 113,956 
Coca-Cola European Partners PLC 3,190 170,952 
Compass Group PLC 23,909 544,022 
ConvaTec Group PLC (b) 18,548 33,511 
Croda International PLC 1,889 127,621 
Diageo PLC 36,613 1,543,520 
Direct Line Insurance Group PLC 20,619 88,566 
easyJet PLC 2,064 31,315 
Fresnillo PLC 2,963 28,932 
G4S PLC (United Kingdom) 21,794 61,443 
GlaxoSmithKline PLC 75,029 1,541,338 
Hammerson PLC 12,090 50,749 
Hargreaves Lansdown PLC 4,264 125,495 
HSBC Holdings PLC (United Kingdom) 301,295 2,625,172 
Imperial Tobacco Group PLC 14,565 462,664 
Informa PLC 19,298 196,032 
InterContinental Hotel Group PLC 2,717 176,015 
Intertek Group PLC 2,370 165,341 
Investec PLC 11,776 74,476 
ITV PLC 54,608 97,307 
J Sainsbury PLC 26,030 75,523 
John Wood Group PLC 10,493 64,378 
Johnson Matthey PLC 2,856 124,277 
Kingfisher PLC 32,120 110,756 
Land Securities Group PLC 10,644 128,110 
Legal & General Group PLC 90,850 329,579 
Lloyds Banking Group PLC 1,074,232 878,545 
London Stock Exchange Group PLC 4,752 311,557 
Marks & Spencer Group PLC 24,467 91,268 
Meggitt PLC 12,675 89,980 
Melrose Industries PLC 74,741 197,069 
Merlin Entertainments PLC (b) 10,149 48,464 
Micro Focus International PLC 5,093 128,695 
Mondi PLC 5,329 116,778 
National Grid PLC 51,570 562,255 
Next PLC 2,133 160,377 
NMC Health PLC 1,601 58,915 
Pearson PLC 11,403 123,527 
Persimmon PLC 4,647 135,495 
Prudential PLC 39,170 889,997 
Reckitt Benckiser Group PLC 10,169 822,738 
RELX PLC (London Stock Exchange) 29,852 684,726 
Rio Tinto PLC 17,396 1,014,866 
Rolls-Royce Holdings PLC 25,917 310,370 
Royal Bank of Scotland Group PLC 73,185 229,167 
Royal Dutch Shell PLC:   
Class A 582 18,520 
Class A (United Kingdom) 69,247 2,206,308 
Class A sponsored ADR 115 7,306 
Class B (United Kingdom) 54,227 1,750,088 
Royal Mail PLC 12,703 41,876 
RSA Insurance Group PLC 16,748 118,370 
Sage Group PLC 15,775 149,219 
Schroders PLC 1,734 71,610 
Scottish & Southern Energy PLC 15,064 225,397 
Segro PLC 15,643 138,383 
Severn Trent PLC 3,547 94,171 
Smith & Nephew PLC 13,305 257,219 
Smiths Group PLC 6,289 124,858 
St. James's Place Capital PLC 7,888 115,357 
Standard Chartered PLC (United Kingdom) 42,728 390,021 
Standard Life PLC 36,270 131,909 
Taylor Wimpey PLC 48,785 115,399 
Tesco PLC 148,404 484,189 
The Weir Group PLC 3,727 80,652 
Unilever PLC 16,746 1,015,060 
United Utilities Group PLC 9,672 104,531 
Vodafone Group PLC 403,079 747,661 
Vodafone Group PLC sponsored ADR 110 2,037 
Whitbread PLC 2,859 166,275 
WM Morrison Supermarkets PLC 33,040 93,019 
TOTAL UNITED KINGDOM  33,993,579 
United States of America - 0.1%   
Southern Copper Corp. 1,347 51,752 
Yum China Holdings, Inc. 5,511 261,993 
TOTAL UNITED STATES OF AMERICA  313,745 
TOTAL COMMON STOCKS   
(Cost $318,602,138)  309,205,784 
Nonconvertible Preferred Stocks - 1.4%   
Brazil - 0.7%   
Banco Bradesco SA (PN) 62,490 567,033 
Braskem SA (PN-A) 2,500 30,463 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) (a) 3,200 28,278 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 2,400 59,065 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 14,800 55,635 
Gerdau SA 16,200 58,461 
Itau Unibanco Holding SA 73,550 634,566 
Itausa-Investimentos Itau SA (PN) 68,147 206,991 
Lojas Americanas SA (PN) 12,400 49,713 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) 62,000 428,660 
Telefonica Brasil SA 6,200 73,636 
TOTAL BRAZIL  2,192,501 
Chile - 0.0%   
Embotelladora Andina SA Class B 4,764 17,008 
Sociedad Quimica y Minera de Chile SA (PN-B) 1,954 69,669 
TOTAL CHILE  86,677 
Colombia - 0.1%   
Bancolombia SA (PN) 6,628 83,843 
Grupo Aval Acciones y Valores SA 57,647 22,198 
Grupo de Inversiones Suramerica SA 1,893 20,410 
TOTAL COLOMBIA  126,451 
Germany - 0.4%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 800 59,041 
Fuchs Petrolub AG 960 41,756 
Henkel AG & Co. KGaA 2,894 292,911 
Porsche Automobil Holding SE (Germany) 2,243 155,928 
Sartorius AG (non-vtg.) 538 98,478 
Volkswagen AG 2,870 499,073 
TOTAL GERMANY  1,147,187 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 102,423 53,483 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 110 11,057 
CJ Corp. (a)(d) 29 914 
Hyundai Motor Co. 2,510 174,663 
Hyundai Motor Co. Series 2 341 25,633 
LG Chemical Ltd. 99 17,053 
LG Household & Health Care Ltd. 33 22,935 
Samsung Electronics Co. Ltd. 11,989 383,150 
TOTAL KOREA (SOUTH)  635,405 
Russia - 0.0%   
AK Transneft OAO 7 18,189 
Surgutneftegas OJSC 144,900 87,772 
TOTAL RUSSIA  105,961 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC (C Shares) (a) 1,840,107 2,400 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $4,532,513)  4,350,065 
Money Market Funds - 2.8%   
Fidelity Cash Central Fund, 2.49% (e) 8,970,937 8,972,731 
Fidelity Securities Lending Cash Central Fund 2.49% (e)(f) 262,278 262,304 
TOTAL MONEY MARKET FUNDS   
(Cost $9,234,984)  9,235,035 
TOTAL INVESTMENT IN SECURITIES - 99.0%   
(Cost $332,369,635)  322,790,884 
NET OTHER ASSETS (LIABILITIES) - 1.0%  3,376,889 
NET ASSETS - 100%  $326,167,773 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
ICE E-mini MSCI EAFE Index Contracts (United States) 88 June 2019 $8,434,800 $125,162 $125,162 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 61 June 2019 3,294,610 34,808 34,808 
TME S&P/TSX 60 Index Contracts (Canada) 6 June 2019 889,811 9,468 9,468 
TOTAL FUTURES CONTRACTS     $169,438 

The notional amount of futures purchased as a percentage of Net Assets is 3.9%

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 $2,815,798 or 0.9% of net assets.

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

 (d) Level 3 security

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

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

Affiliated Central Funds

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 $128,551 
Fidelity Securities Lending Cash Central Fund 1,218 
Total $129,769 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $21,925,766 $7,823,035 $14,102,731 $-- 
Consumer Discretionary 36,280,808 25,631,351 10,648,768 689 
Consumer Staples 30,521,491 16,042,868 14,478,623 -- 
Energy 22,896,066 11,649,217 11,246,849 -- 
Financials 69,332,703 44,088,361 25,196,665 47,677 
Health Care 25,107,581 11,032,609 14,074,972 -- 
Industrials 37,008,798 26,522,047 10,485,793 958 
Information Technology 26,993,995 18,333,841 8,660,154 -- 
Materials 23,358,908 15,482,551 7,876,357 -- 
Real Estate 10,415,564 10,415,564 -- -- 
Utilities 9,714,169 6,834,625 2,879,544 -- 
Money Market Funds 9,235,035 9,235,035 -- -- 
Total Investments in Securities: $322,790,884 $203,091,104 $119,650,456 $49,324 
Derivative Instruments:     
Assets     
Futures Contracts $169,438 $169,438 $-- $-- 
Total Assets $169,438 $169,438 $-- $-- 
Total Derivative Instruments: $169,438 $169,438 $-- $-- 

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, 2019. 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) $169,438 $0 
Total Equity Risk 169,438 0 
Total Value of Derivatives $169,438 $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 distributable earnings.

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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $255,571) — See accompanying schedule:
Unaffiliated issuers (cost $323,134,650) 		$313,555,849  
Fidelity Central Funds (cost $9,234,985) 9,235,035  
Total Investment in Securities (cost $332,369,635)  $322,790,884 
Segregated cash with brokers for derivative instruments  554,705 
Foreign currency held at value (cost $1,242,673)  1,236,606 
Receivable for fund shares sold  952,899 
Dividends receivable  1,211,968 
Distributions receivable from Fidelity Central Funds  17,548 
Total assets  326,764,610 
Liabilities   
Payable for fund shares redeemed $260,803  
Payable for daily variation margin on futures contracts 4,326  
Other payables and accrued expenses 69,628  
Collateral on securities loaned 262,080  
Total liabilities  596,837 
Net Assets  $326,167,773 
Net Assets consist of:   
Paid in capital  $332,615,123 
Total distributable earnings (loss)  (6,447,350) 
Net Assets, for 28,635,241 shares outstanding  $326,167,773 
Net Asset Value, offering price and redemption price per share ($326,167,773 ÷ 28,635,241 shares)  $11.39 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $4,318,100 
Interest  7,130 
Income from Fidelity Central Funds  129,769 
Income before foreign taxes withheld  4,454,999 
Less foreign taxes withheld  (403,646) 
Total income  4,051,353 
Expenses   
Independent trustees' fees and expenses $578  
Commitment fees 380  
Total expenses before reductions 958  
Expense reductions (184)  
Total expenses after reductions  774 
Net investment income (loss)  4,050,579 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (370,792)  
Fidelity Central Funds (53)  
Foreign currency transactions (34,917)  
Futures contracts 134,622  
Total net realized gain (loss)  (271,140) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $69,416) 21,255,705  
Fidelity Central Funds 51  
Assets and liabilities in foreign currencies (2,727)  
Futures contracts 1,005,675  
Total change in net unrealized appreciation (depreciation)  22,258,704 
Net gain (loss)  21,987,564 
Net increase (decrease) in net assets resulting from operations  $26,038,143 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $4,050,579 $4,069,385 
Net realized gain (loss) (271,140) 230,182 
Change in net unrealized appreciation (depreciation) 22,258,704 (32,247,806) 
Net increase (decrease) in net assets resulting from operations 26,038,143 (27,948,239) 
Distributions to shareholders (4,638,877) (129,938) 
Share transactions   
Proceeds from sales of shares 101,737,652 304,258,299 
Reinvestment of distributions 493,244 129,938 
Cost of shares redeemed (42,333,614) (39,431,399) 
Net increase (decrease) in net assets resulting from share transactions 59,897,282 264,956,838 
Total increase (decrease) in net assets 81,296,548 236,878,661 
Net Assets   
Beginning of period 244,871,225 7,992,564 
End of period $326,167,773 $244,871,225 
Other Information   
Shares   
Sold 9,433,834 25,836,592 
Issued in reinvestment of distributions 48,215 11,202 
Redeemed (3,942,730) (3,429,802) 
Net increase (decrease) 5,539,319 22,417,992 

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,  
 2019 2018 2017 A 
Selected Per–Share Data    
Net asset value, beginning of period $10.60 $11.79 $10.00 
Income from Investment Operations    
Net investment income (loss)B .16 .36 .19 
Net realized and unrealized gain (loss) .82 (1.35) 1.60 
Total from investment operations .98 (.99) 1.79 
Distributions from net investment income (.19) (.15) – 
Distributions from net realized gain – (.05) – 
Total distributions (.19) (.20) – 
Net asset value, end of period $11.39 $10.60 $11.79 
Total ReturnC,D 9.48% (8.53)% 17.90% 
Ratios to Average Net AssetsE,F    
Expenses before reductionsG - %H -% - %H 
Expenses net of fee waivers, if anyG - %H -% - %H 
Expenses net of all reductionsG - %H -% - %H 
Net investment income (loss) 2.93%H 3.13% 2.64%H 
Supplemental Data    
Net assets, end of period (000 omitted) $326,168 $244,871 $7,993 
Portfolio turnover rateI 2%H 4%J 18%H 

 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 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. 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 Amount represents less than .005%.

 H Annualized

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

 J 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, 2019

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 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. 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, 2019 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.

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, certain foreign taxes, 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 $17,074,820 
Gross unrealized depreciation (26,503,727) 
Net unrealized appreciation (depreciation) $(9,428,907) 
Tax cost $332,389,229 

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.

No expiration  
Short-term $(211,725) 
Long-term (340,659) 
Total no expiration $(552,384) 

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 $65,191,027 and $2,010,397, 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.

Prior Fiscal Year Exchanges In-Kind. During the prior 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 $380 and is reflected in Commitment fees 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. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $1,218. During the period, there were no 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 custody expenses. During the period, these credits reduced the Fund's expenses by $184.

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 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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Actual - %C $1,000.00 $1,094.80 $--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

ZEI-SANN-0619
1.9881634.102

Fidelity® Total International Index Fund



Semi-Annual Report

April 30, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.2 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 1.1 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail) 1.0 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 0.8 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.7 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.7 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 0.7 
Novartis AG (Switzerland, Pharmaceuticals) 0.7 
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels) 0.6 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.6 
 8.1 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 21.8 
Industrials 12.2 
Consumer Discretionary 11.6 
Consumer Staples 8.9 
Information Technology 8.2 
Health Care 7.5 
Materials 7.2 
Energy 7.0 
Communication Services 6.3 
Real Estate 3.0 

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Japan 15.9% 
   United Kingdom 10.5% 
   Canada 6.8% 
   France 6.0% 
   Germany 5.4% 
   Switzerland 5.2% 
   United States of America* 5.1% 
   Australia 4.4% 
   Cayman Islands 4.4% 
   Other 36.3% 


 * 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, 2019

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

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.4%   
 Shares Value 
Australia - 4.4%   
Abacus Property Group unit 51,829 $137,744 
Accent Group Ltd. 32,302 36,776 
Adelaide Brighton Ltd. 42,842 130,772 
Afterpay Touch Group Ltd. (a) 12,426 224,161 
AGL Energy Ltd. 65,126 1,020,592 
ALS Ltd. 73,570 411,794 
Altium Ltd. 11,073 263,840 
Alumina Ltd. 255,284 403,116 
Amcor Ltd. 108,537 1,226,506 
AMP Ltd. 312,212 499,613 
Ansell Ltd. 17,770 338,228 
APA Group unit 117,873 799,370 
APN News & Media Ltd. 14,469 17,646 
Appen Ltd. 12,670 226,151 
ARB Corp. Ltd. 7,658 97,875 
Ardent Leisure Group Ltd. 13,116 11,835 
Aristocrat Leisure Ltd. 61,623 1,132,945 
ASX Ltd. 20,351 1,068,810 
Atlas Arteria Ltd. unit 83,614 412,606 
Aurizon Holdings Ltd. 230,014 771,826 
Ausdrill Ltd. 58,319 67,424 
Australia & New Zealand Banking Group Ltd. 291,300 5,585,573 
Australian Agricultural Co. Ltd. (a) 71,591 59,552 
Australian Pharmaceutical Industries Ltd. 31,076 31,546 
Automotive Holdings Group Ltd. 2,148 3,634 
Babcock & Brown Wind Partners (a) 22,022 7,141 
Bank of Queensland Ltd. 71,600 467,898 
Bapcor Ltd. 53,203 213,406 
Beach Energy Ltd. 210,274 315,736 
Bega Cheese Ltd. 25,105 89,551 
Bellamy's Australia Ltd. (a) 3,737 28,399 
Bendigo & Adelaide Bank Ltd. 46,769 339,589 
BHP Billiton Ltd. 290,103 7,676,804 
Bingo Industries Ltd. 33,961 40,340 
Blackmores Ltd. 665 43,382 
BlueScope Steel Ltd. 58,194 551,771 
Boral Ltd. 121,988 417,078 
Brambles Ltd. 152,525 1,295,646 
Bravura Solutions Ltd. 46,661 189,796 
Breville Group Ltd. 15,579 211,302 
Brickworks Ltd. 3,884 44,821 
BT Investment Management Ltd. 21,895 140,920 
BWP Trust 57,248 149,321 
Caltex Australia Ltd. 25,962 497,995 
Carsales.com Ltd. 32,878 311,967 
Centuria Industrial REIT 1,014 2,159 
Challenger Ltd. 50,748 294,069 
Charter Hall Education Trust 58,374 153,492 
Charter Hall Group unit 55,554 384,187 
Charter Hall Long Wale REIT unit 5,867 19,025 
Charter Hall Retail REIT 47,426 155,463 
Cimic Group Ltd. 11,956 426,392 
Coca-Cola Amatil Ltd. 50,126 310,960 
Cochlear Ltd. 5,575 736,225 
Coles Group Ltd. (a) 118,100 1,049,840 
Commonwealth Bank of Australia 177,656 9,332,780 
Computershare Ltd. 52,064 654,406 
Cooper Energy Ltd. (a) 310,278 118,114 
Corporate Travel Management Ltd. 6,485 121,833 
Costa Group Holdings Ltd. 19,396 77,527 
Credit Corp. Group Ltd. 3,751 63,066 
Cromwell Property Group unit 273,904 217,225 
Crown Ltd. 42,649 399,569 
CSL Ltd. 46,600 6,523,158 
CSR Ltd. 34,399 86,328 
DEXUS Property Group unit 96,117 846,971 
Domain Holdings Australia Ltd. 4,825 9,184 
Dominos Pizza Enterprises Ltd. 7,917 239,987 
Downer EDI Ltd. 84,960 463,568 
DuluxGroup Ltd. 37,119 255,129 
Eclipx Group Ltd. 20,670 14,790 
Elders Ltd. 11,287 48,059 
Estia Health Ltd. 5,345 10,889 
Evolution Mining Ltd. 125,965 283,269 
FKP Property Group unit 62,507 93,857 
Flexigroup Ltd. 24,844 24,432 
Flight Centre Travel Group Ltd. 4,521 122,384 
Fortescue Metals Group Ltd. 156,899 790,833 
G8 Education Ltd. 36,333 78,119 
Galaxy Resources Ltd. (a) 17,639 18,155 
GDI Property Group unit 5,098 4,995 
Genworth Mortgage Insurance Ltd. 21,812 36,750 
Goodman Group unit 159,604 1,480,669 
GrainCorp Ltd. 22,622 143,526 
Growthpoint Properties Australia Ltd. 1,348 4,001 
GUD Holdings Ltd. 13,485 112,364 
GWA Group Ltd. 15,587 37,030 
Hansen Technologies Ltd. 12,222 25,934 
Harvey Norman Holdings Ltd. (b) 79,400 233,408 
Healius Ltd. 105,117 231,199 
Healthscope Ltd. 150,599 260,104 
HUB24 Ltd. (b) 10,115 106,959 
IDP Education Ltd. 18,128 199,358 
Iluka Resources Ltd. 56,446 343,799 
Incitec Pivot Ltd. 177,677 422,104 
Independence Group NL 88,499 278,248 
Inghams Group Ltd. 8,510 26,696 
Insurance Australia Group Ltd. 236,845 1,315,675 
Invocare Ltd. 21,138 228,138 
IOOF Holdings Ltd. 25,283 115,673 
IPH Ltd. 12,190 61,271 
Iress Ltd. 12,570 126,981 
JB Hi-Fi Ltd. 18,990 344,983 
Lendlease Group unit 63,370 594,147 
Link Administration Holdings Ltd. 70,675 378,650 
Lynas Corp. Ltd. (a) 66,714 93,119 
Macquarie Group Ltd. 31,976 3,036,338 
Magellan Financial Group Ltd. 12,366 388,884 
Mayne Pharma Group Ltd. (a) 85,853 42,365 
McMillan Shakespeare Ltd. 3,134 29,318 
Medibank Private Ltd. 270,022 544,407 
Mesoblast Ltd. (a)(b) 65,772 76,040 
Metcash Ltd. 74,970 151,680 
Mineral Resources Ltd. 16,681 183,327 
Mirvac Group unit 374,246 746,624 
Monadelphous Group Ltd. 7,750 103,531 
Myer Holdings Ltd. (a) 14,173 7,094 
MYOB Group Ltd. 32,308 77,437 
Nanosonics Ltd. (a) 18,193 63,356 
National Australia Bank Ltd. 272,592 4,867,141 
National Storage (REIT) unit 78,561 99,133 
Navitas Ltd. 20,533 83,809 
New Hope Corp. Ltd. 32,624 61,865 
Newcrest Mining Ltd. 79,317 1,398,422 
NEXTDC Ltd. (a) 54,346 244,809 
NIB Holdings Ltd. 34,573 140,140 
Nine Entertainment Co. Holdings Ltd. 137,342 169,434 
Northern Star Resources Ltd. 70,896 409,321 
NRW Holdings Ltd. 77,175 159,949 
Nufarm Ltd. 21,923 78,200 
oOh!media Ltd. 32,368 86,023 
Orica Ltd. 40,187 526,935 
Origin Energy Ltd. 199,732 1,037,704 
Orocobre Ltd. (a) 9,603 22,543 
Orora Ltd. 148,623 317,459 
OZ Minerals Ltd. 25,728 180,644 
Pact Group Holdings Ltd. 17,118 31,737 
Perpetual Trustees Australia Ltd. 3,769 108,723 
Pilbara Minerals Ltd. (a)(b) 169,538 72,905 
Platinum Asset Management Ltd. 61,829 217,060 
Premier Investments Ltd. 11,629 140,020 
Pro Medicus Ltd. 7,636 110,028 
QBE Insurance Group Ltd. 144,581 1,317,856 
Qube Holdings Ltd. 167,007 333,180 
Quintis Ltd. (a)(c) 790 0 
Ramsay Health Care Ltd. 14,874 684,908 
realestate.com.au Ltd. 6,607 372,143 
Regis Healthcare Ltd. 290 691 
Regis Resources Ltd. 43,325 146,296 
Reliance Worldwide Corp. Ltd. 118,062 406,152 
Resolute Mng Ltd. 38,705 30,832 
Rio Tinto Ltd. 36,075 2,425,361 
Sandfire Resources NL 7,992 39,663 
Santos Ltd. 193,848 982,536 
Saracen Mineral Holdings Ltd. (a) 95,568 187,964 
Scentre Group unit 534,177 1,438,490 
SEEK Ltd. 33,475 429,723 
Select Harvests Ltd. 5,638 25,437 
Seven Group Holdings Ltd. 17,683 244,202 
Shopping Centres Australasia Property Group unit 85,370 154,065 
Sigma Healthcare Ltd. 31,213 11,552 
Sims Metal Management Ltd. 18,028 131,155 
Smartgroup Corp. Ltd. 2,759 16,493 
Sonic Healthcare Ltd. 45,113 815,732 
South32 Ltd. 502,754 1,183,751 
Southern Cross Media Group Ltd. 34,197 30,375 
SP AusNet 164,434 205,754 
Spark Infrastructure Group unit 232,794 370,884 
SpeedCast International Ltd. 9,792 26,783 
St Barbara Ltd. 48,289 108,932 
Steadfast Group Ltd. 74,037 177,976 
Stockland Corp. Ltd. unit 235,736 626,506 
Suncorp Group Ltd. 139,232 1,302,472 
Super Retail Group Ltd. 6,031 36,818 
Sydney Airport unit 111,323 597,996 
Syrah Resources Ltd. (a) 14,130 11,057 
Tabcorp Holdings Ltd. 190,314 642,635 
Tassal Group Ltd. 26,831 96,842 
Technology One Ltd. 15,556 96,393 
Telstra Corp. Ltd. 412,905 983,842 
The GPT Group unit 181,071 731,412 
The Star Entertainment Group Ltd. 143,626 459,671 
TPG Telecom Ltd. 44,979 213,712 
Transpacific Industries Group Ltd. 238,844 378,839 
Transurban Group unit 243,451 2,306,583 
Treasury Wine Estates Ltd. 73,226 887,876 
Vicinity Centres unit 345,268 618,228 
Village Roadshow Ltd. (a) 338 858 
Virtus Health Ltd. 1,474 4,125 
Viva Energy Group Ltd. (d) 103,266 160,882 
Viva Energy REIT unit 65,547 113,670 
Vocus Group Ltd. (a) 52,460 144,598 
Washington H. Soul Pattinson & Co. Ltd. 8,475 137,353 
Webjet Ltd. 16,636 197,726 
Wesfarmers Ltd. 112,711 2,861,197 
West Australian Newspapers Holdings Ltd. (a) 77,891 31,024 
Western Areas NL 25,883 41,236 
Westgold Resources Ltd. (a) 33,822 35,407 
Westpac Banking Corp. 346,873 6,738,492 
Whitehaven Coal Ltd. 98,177 290,681 
WiseTech Global Ltd. 8,601 135,696 
Woodside Petroleum Ltd. 92,108 2,297,927 
Woolworths Group Ltd. 130,893 2,938,896 
WorleyParsons Ltd. 42,175 425,752 
TOTAL AUSTRALIA  114,503,716 
Austria - 0.3%   
ams AG 9,501 400,852 
Andritz AG  8,497 405,035 
Austria Technologie & Systemtechnik AG 1,807 35,914 
BAWAG Group AG (d) 7,165 347,810 
CA Immobilien Anlagen AG 6,878 241,074 
DO & CO Restaurants & Catering AG 329 27,786 
Erste Group Bank AG 32,134 1,286,681 
EVN AG 1,673 24,957 
IMMOFINANZ Immobilien Anlagen AG 14,603 374,254 
Lenzing AG 763 85,664 
Oesterreichische Post AG 5,821 226,551 
OMV AG 14,704 787,493 
PORR AG 3,992 106,115 
Raiffeisen International Bank-Holding AG 14,796 394,468 
S IMMO AG 1,268 27,733 
S&T AG 6,744 181,840 
Schoeller-Bleckmann Oilfield Equipment AG 1,427 133,484 
Telekom Austria AG 16,425 123,061 
UNIQA Insurance Group AG 7,655 81,566 
Verbund AG 6,593 326,994 
Vienna Insurance Group AG 2,697 75,019 
Voestalpine AG 12,734 408,907 
Wienerberger AG 18,451 423,412 
Zumtobel AG (a) 292 2,106 
TOTAL AUSTRIA  6,528,776 
Bailiwick of Guernsey - 0.0%   
Burford Capital Ltd. 18,194 387,903 
Schroder (REIT) Ltd. 2,240 1,665 
Sirius Real Estate Ltd. 166,401 137,787 
Standard Life Investment Property Income Trust Ltd. 929 1,108 
Stobart Group Ltd. 18,958 36,884 
TOTAL BAILIWICK OF GUERNSEY  565,347 
Bailiwick of Jersey - 0.4%   
Boohoo.Com PLC (a) 71,246 228,267 
Centamin PLC 102,570 118,370 
Experian PLC 84,050 2,446,604 
Ferguson PLC 22,655 1,607,091 
Glencore Xstrata PLC 1,069,639 4,243,857 
IWG PLC 78,776 349,159 
Petrofac Ltd. 15,286 88,363 
Polymetal International PLC 17,493 183,544 
Sanne Group PLC 11,441 93,393 
WPP PLC 124,051 1,547,883 
TOTAL BAILIWICK OF JERSEY  10,906,531 
Belgium - 0.7%   
Ackermans & Van Haaren SA 3,878 623,728 
Aedifica SA 1,968 176,585 
Aedifica SA rights 5/2/19 (a) 1,968 8,609 
Ageas 17,931 945,236 
Agfa-Gevaert NV (a) 13,944 60,244 
Anheuser-Busch InBev SA NV 76,719 6,820,867 
Barco NV 1,385 246,061 
Befimmo SCA Sicafi 2,341 134,172 
Bekaert SA 2,466 67,321 
Bpost SA 12,090 145,229 
Cofinimmo SA 2,510 320,935 
Colruyt NV 6,059 436,696 
Compagnie D'entreprises CFE SA 465 46,261 
D'ieteren SA 2,258 93,452 
Econocom Group SA 8,036 33,385 
Elia System Operator SA/NV 3,956 266,667 
Euronav NV 18,114 171,066 
Fagron NV 2,217 43,938 
Galapagos Genomics NV (a) 5,725 657,590 
Gimv NV 291 17,494 
Groupe Bruxelles Lambert SA 6,694 639,831 
Ion Beam Applications SA (a) 586 10,516 
KBC Ancora 5,203 264,940 
KBC Groep NV 24,127 1,786,557 
Kinepolis Group NV 846 50,290 
Melexis NV 2,513 201,529 
Mithra Pharmaceuticals SA (a) 2,881 82,464 
Montea SICAFI SCA 2,541 213,749 
Ontex Group NV 8,318 208,980 
Orange Belgium 576 12,068 
Proximus 16,815 470,550 
Sofina SA 1,736 357,098 
Solvay SA Class A 7,931 953,143 
Telenet Group Holding NV 5,712 303,159 
Tessenderlo Group (a) 1,881 67,933 
UCB SA 12,973 1,029,013 
Umicore SA 21,579 835,004 
Van de Velde 142 4,802 
Warehouses de Pauw 1,809 271,477 
Warehouses de Pauw rights (a)(e) 1,809 9,739 
TOTAL BELGIUM  19,088,378 
Bermuda - 0.6%   
AGTech Holdings Ltd. (a) 40,000 2,396 
Alibaba Health Information Technology Ltd. (a) 400,000 478,279 
Alibaba Pictures Group Ltd. (a) 1,790,000 401,591 
Beijing Enterprises Water Group Ltd. 524,000 325,296 
Borr Drilling Ltd. (a) 53,801 153,406 
Brightoil Petroleum Holdings Ltd. (a)(c) 26,000 4,971 
Brilliance China Automotive Holdings Ltd. 372,000 409,234 
BW LPG Ltd. (a)(d) 25,038 114,634 
BW Offshore Ltd. (a) 3,569 19,857 
Cafe de Coral Holdings Ltd. 116,000 285,682 
Carnival Group International Holdings Ltd. (a) 125,000 765 
Cheung Kong Infrastructure Holdings Ltd. 69,000 560,282 
China Foods Ltd. 188,000 73,812 
China Gas Holdings Ltd. 166,800 536,878 
China Grand Pharmaceutical and Healthcare Holdings Ltd. (a) 360,000 212,013 
China Oil & Gas Group Ltd. 360,000 22,027 
China Oriental Group Co. Ltd. (H Shares) 120,000 73,577 
China Resource Gas Group Ltd. 98,000 453,472 
China Water Affairs Group Ltd. 40,000 41,148 
China Youzan Ltd. (a) 1,048,000 82,827 
Chinese Estates Holdings Ltd. 93,000 97,211 
Chow Sang Sang Holdings International Ltd. 61,000 101,242 
CITIC Resources Holdings Ltd. 16,000 1,509 
CMBC Capital Holdings Ltd. 600,000 20,268 
Cosco Shipping Ports Ltd. 141,789 141,341 
Credicorp Ltd. (United States) 7,304 1,730,318 
Dairy Farm International Holdings Ltd. 30,489 238,729 
Digital China Holdings Ltd. (H Shares) 21,261 10,136 
Digital Domain Holdings Ltd. (a) 470,000 7,369 
Emperor International Holding Ltd. 54,000 16,039 
Esprit Holdings Ltd. (a) 52,400 10,621 
Frontline Ltd. (a) 7,218 59,736 
GCL New Energy Holdings Ltd. (a) 476,000 17,900 
Giordano International Ltd. 56,000 26,627 
Global Brands Group Holding Ltd. 14,200 1,738 
Golden Ocean Group Ltd. 5,388 33,287 
GOME Electrical Appliances Holdings Ltd. (a) 1,293,000 148,340 
Gulf Keystone Petroleum Ltd. (a) 20,209 66,935 
GZI Transport Ltd. 72,000 58,648 
Haier Electronics Group Co. Ltd. 138,000 394,924 
HengTen Networks Group Ltd. (a) 2,816,000 80,767 
Hiscox Ltd. 26,137 570,544 
Hoegh LNG Holdings Ltd. 550 2,505 
Hongkong Land Holdings Ltd. 114,304 796,699 
Huanxi Media Group Ltd. (a) 10,000 2,040 
Jardine Matheson Holdings Ltd. 22,568 1,484,974 
Jardine Strategic Holdings Ltd. 23,429 886,085 
Johnson Electric Holdings Ltd. 31,000 72,869 
K Wah International Holdings Ltd. 76,902 48,230 
Kerry Logistics Network Ltd. 42,500 75,738 
Kerry Properties Ltd. 94,000 401,412 
Kunlun Energy Co. Ltd. 358,000 377,860 
Lancashire Holdings Ltd. 30,597 274,302 
Landing International Development Ltd. (a) 54,000 17,209 
Li & Fung Ltd. 680,000 112,686 
Luk Fook Holdings International Ltd. 87,000 311,633 
Luye Pharma Group Ltd. (d) 78,500 71,047 
Man Wah Holdings Ltd. 269,600 138,842 
Mandarin Oriental International Ltd. 47,100 90,903 
Neo-China Group (Holdings) Ltd. 8,000 1,601 
Nine Dragons Paper (Holdings) Ltd. 210,000 194,078 
Northern Drilling Ltd. (a) 58,298 358,811 
NWS Holdings Ltd. 179,367 372,690 
Pacific Basin Shipping Ltd. 565,000 115,956 
Panda Green Energy Group Ltd. (a) 56,000 2,356 
PAX Global Technology Ltd. 14,000 6,532 
Petra Diamonds Ltd. (a) 43,437 11,498 
Pou Sheng International (Holdings) Ltd. 181,000 42,454 
Road King Infrastructure Ltd. 20,000 45,431 
Shangri-La Asia Ltd. 156,000 221,130 
Shenzhen International Holdings Ltd. 65,871 142,073 
Sihuan Pharmaceutical Holdings Group Ltd. 675,000 181,553 
Silverlake Axis Ltd. Class A 81,300 31,083 
Skyfame Realty Holdings Ltd. 150,000 24,666 
Skyworth Digital Holdings Ltd. 72,098 21,322 
SmarTone Telecommunications Holdings Ltd. 2,643 2,753 
SMI Corp. Ltd. (a)(c) 7,200 2,148 
Stolt-Nielsen SA 172 2,153 
Tai Fook Securities Group Ltd. 574,978 208,155 
Texwinca Holdings Ltd. 200,000 79,543 
Town Health International Holdings Co. Ltd. (a)(c) 114,000 10,027 
Vtech Holdings Ltd. 16,500 150,491 
Yue Yuen Industrial (Holdings) Ltd. 127,500 412,009 
TOTAL BERMUDA  15,891,923 
Brazil - 1.1%   
AES Tiete Energia SA unit 1,912 5,266 
Aliansce Shopping Centers SA 600 2,907 
Alupar Investimento SA unit 39,500 235,322 
Ambev SA 474,863 2,236,801 
Arezzo Industria e Comercio SA 13,900 180,791 
Atacadao Distribuicao Comercio e Industria Ltda 43,700 236,270 
B2W Companhia Global do Varejo (a) 15,504 151,240 
Banco Bradesco SA 137,737 1,088,941 
Banco do Brasil SA 84,200 1,066,807 
Banco Santander SA (Brasil) unit 40,000 459,157 
BB Seguridade Participacoes SA 82,200 592,429 
BK Brasil Operacao e Assessoria a Restaurantes SA 13,300 76,962 
BM&F BOVESPA SA 207,778 1,825,496 
BR Malls Participacoes SA 104,005 326,251 
Brasil Foods SA (a) 55,900 442,655 
CCR SA 135,184 403,025 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 24,200 201,816 
Cia. Hering SA 20,400 166,120 
Cielo SA 147,660 289,212 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 40,600 486,649 
Companhia de Saneamento de Minas Gerais 4,900 86,226 
Companhia Siderurgica Nacional SA (CSN) 63,987 237,273 
Cosan Logistica SA (a) 25,400 94,316 
Cosan SA Industria e Comercio 14,300 170,932 
CVC Brasil Operadora e Agencia de Viagens SA 12,400 179,591 
Cyrela Brazil Realty SA 46,000 208,584 
Dommo Energia SA (a) 102,300 12,523 
Drogasil SA 25,600 451,400 
Duratex SA 26,100 66,164 
Ecorodovias Infraestrutura e Logistica SA 3,000 6,205 
EDP Energias do Brasil SA 26,100 116,552 
Embraer SA 79,788 399,642 
ENGIE Brasil Energia SA 16,281 184,729 
Equatorial Energia SA 19,200 402,010 
Estacio Participacoes SA 22,500 155,964 
Fleury SA 9,500 50,273 
Grendene SA 31,100 58,217 
Hypermarcas SA 44,700 320,108 
Iguatemi Empresa de Shopping Centers SA 10,400 101,265 
Iochpe-Maxion SA 3,830 19,418 
IRB Brasil Resseguros SA 15,300 366,395 
JBS SA 93,300 470,414 
Klabin SA unit 87,600 370,855 
Kroton Educacional SA 168,754 419,615 
Light SA 3,100 16,753 
Linx SA 10,800 88,607 
Localiza Rent A Car SA 66,570 614,581 
LOG Commercial Properties e Participacoes SA 591 2,644 
Lojas Renner SA 78,477 938,258 
M. Dias Branco SA 17,957 190,465 
Magazine Luiza SA 8,600 419,483 
Marfrig Global Foods SA (a) 4,500 8,401 
Minerva SA (a) 600 1,285 
MRV Engenharia e Participacoes SA 24,500 90,662 
Multiplan Empreendimentos Imobiliarios SA 48,396 295,725 
Natura Cosmeticos SA 16,700 222,491 
Odontoprev SA 13,800 58,774 
Petrobras Distribuidora SA 28,500 172,260 
Petroleo Brasileiro SA - Petrobras (ON) 292,500 2,234,909 
Porto Seguro SA 7,400 102,137 
Qualicorp Consultoria E Corret 26,300 115,366 
Rumo SA (a) 121,600 561,312 
Sao Martinho SA 21,300 103,700 
SLC Agricola SA 3,500 36,686 
Smiles Fidelidade SA 6,600 82,477 
Sul America SA unit 19,835 157,826 
Suzano Papel e Celulose SA 54,188 562,872 
Terna Participacoes SA unit 20,300 135,899 
TIM Participacoes SA 95,280 284,059 
Totvs SA 9,200 104,527 
Ultrapar Participacoes SA 84,600 453,087 
Vale SA 321,574 4,108,760 
Valid Solucoes SA 660 2,988 
Via Varejo SA 104,400 109,163 
Weg SA 92,640 438,972 
TOTAL BRAZIL  28,137,917 
British Virgin Islands - 0.0%   
First Pacific Co. Ltd. 504,000 209,029 
Canada - 6.4%   
Advantage Oil & Gas Ltd. (a) 9,749 16,155 
Aecon Group, Inc. 4,244 60,665 
AG Growth International, Inc. 2,935 128,183 
AGF Management Ltd. Class B (non-vtg.) 1,711 7,075 
Agnico Eagle Mines Ltd. (Canada) 23,737 983,003 
Alacer Gold Corp. (a) 30,195 80,012 
Alamos Gold, Inc. 39,597 183,842 
Alaris Royalty Corp. 1,959 26,511 
Algonquin Power & Utilities Corp. 49,037 559,659 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 43,413 2,559,672 
Allied Properties (REIT) 3,901 138,109 
AltaGas Ltd. 30,467 405,029 
Altius Minerals Corp. 306 2,921 
Altus Group Ltd. 5,318 107,416 
ARC Resources Ltd. 47,687 302,916 
Aritzia LP (a) 14,288 207,222 
Artis (REIT) 25,131 195,653 
ATCO Ltd. Class I (non-vtg.) 10,224 350,670 
Athabasca Oil Corp. (a) 19,008 14,188 
ATS Automation Tooling System, Inc. (a) 9,107 145,813 
B2Gold Corp. (a) 119,611 324,986 
Badger Daylighting Ltd. 5,918 199,623 
Ballard Power Systems, Inc. (a) 17,180 56,553 
Bank of Montreal 63,814 5,040,530 
Bank of Nova Scotia 122,764 6,760,863 
Barrick Gold Corp. (Canada) 187,741 2,386,526 
Bausch Health Cos., Inc. (Canada) (a) 33,147 765,521 
Baytex Energy Corp. (a) 54,000 109,636 
BCE, Inc. 11,141 498,463 
Birchcliff Energy Ltd. 13,061 34,122 
BlackBerry Ltd. (a) 58,062 532,643 
Boardwalk (REIT) 579 16,808 
Bombardier, Inc. Class B (sub. vtg.) (a) 201,165 343,859 
Bonterra Energy Corp. 213 1,064 
Boralex, Inc. Class A 3,344 45,653 
Brookfield Asset Management, Inc. Class A 84,990 4,097,562 
BRP, Inc. 2,924 90,883 
CAE, Inc. 30,230 703,118 
Cameco Corp. 37,865 417,739 
Canaccord Capital, Inc. 4,468 19,043 
Canacol Energy Ltd. (a) 1,213 3,622 
Canada Goose Holdings, Inc. (a) 4,565 243,771 
Canadian Apartment Properties (REIT) unit 5,366 191,978 
Canadian Energy Services & Technology Corp. 8,231 16,036 
Canadian Imperial Bank of Commerce 45,294 3,814,000 
Canadian National Railway Co. 72,168 6,703,431 
Canadian Natural Resources Ltd. 124,463 3,736,584 
Canadian Pacific Railway Ltd. 14,486 3,245,699 
Canadian Tire Ltd. Class A (non-vtg.) 5,961 656,124 
Canadian Utilities Ltd. Class A (non-vtg.) 11,994 330,625 
Canadian Western Bank, Edmonton 8,335 186,895 
Canfor Corp. 6,226 65,109 
Canfor Pulp Products, Inc. 673 7,369 
Capital Power Corp. 16,157 364,217 
Cardinal Energy Ltd. 630 1,467 
Cascades, Inc. 4,191 25,120 
CCL Industries, Inc. Class B 17,744 756,938 
Celestica, Inc. (sub. vtg.) (a) 20,985 149,591 
Cenovus Energy, Inc. (Canada) 108,126 1,071,817 
Centerra Gold, Inc.(a) 26,850 136,685 
CGI Group, Inc. Class A (sub. vtg.) (a) 24,559 1,767,727 
China Gold International Resources Corp. Ltd. (a) 4,402 5,750 
Choice Properties REIT 4,588 46,712 
CI Financial Corp. 20,962 301,514 
Cineplex, Inc. 5,228 99,979 
Cogeco Communications, Inc. 956 63,488 
Cogeco, Inc. (sub. vtg.) 155 9,522 
Colliers International Group, Inc. 5,797 372,476 
Cominar (REIT) 7,491 62,849 
Computer Modelling Group Ltd. 610 2,686 
Constellation Software, Inc. 2,116 1,867,030 
Corby Spirit and Wine Ltd. 368 4,900 
Corus Entertainment, Inc. Class B (non-vtg.) 8,530 48,517 
Cott Corp. 27,937 432,912 
Crescent Point Energy Corp. 70,942 273,241 
Crombie (REIT) 448 4,782 
CT Real Estate Investment Trust 401 4,220 
Descartes Systems Group, Inc. (Canada) (a) 17,449 696,814 
Detour Gold Corp. (a) 25,705 228,327 
Dirtt Environmental Solutions Ltd. (a) 12,972 89,372 
Dollarama, Inc. 32,981 990,636 
Dorel Industries, Inc. Class B (sub. vtg.) 1,245 10,957 
Dream Global REIT 37,064 381,513 
Dream Industrial (REIT) 1,039 8,934 
Dream Office (REIT) 386 6,713 
DREAM Unlimited Corp. 489 2,730 
ECN Capital Corp. 29,196 93,492 
Eldorado Gold Corp. (a) 11,000 45,816 
Element Financial Corp. 39,292 243,724 
Emera, Inc. 4,497 168,877 
Empire Co. Ltd. Class A (non-vtg.) 15,564 346,202 
Enbridge, Inc. 203,892 7,531,996 
Encana Corp. (Toronto) 152,911 1,059,203 
Endeavour Silver Corp. (a) 544 1,186 
Enerflex Ltd. 7,164 99,089 
Enerplus Corp. 46,106 421,930 
Enghouse Systems Ltd. 9,322 227,883 
Ensign Energy Services, Inc. 10,557 44,365 
Entertainment One Ltd. 24,559 152,631 
Equitable Group, Inc. 333 18,153 
Evertz Technologies Ltd. 415 5,254 
Exco Technologies Ltd. 580 4,057 
Extendicare, Inc. 24,719 150,746 
Fairfax Financial Holdings Ltd. (sub. vtg.) 2,862 1,364,839 
Fiera Capital Corp. 751 6,985 
Finning International, Inc. 25,373 455,491 
First Capital Realty, Inc. 13,184 210,106 
First Majestic Silver Corp. (a) 16,859 103,568 
First National Financial Corp. 813 19,516 
First Quantum Minerals Ltd. 69,866 737,929 
FirstService Corp. 4,244 369,311 
Fortis, Inc. 41,692 1,541,082 
Fortuna Mines, Inc. (a) 8,792 26,907 
Franco-Nevada Corp. 18,581 1,331,336 
Freehold Royalties Ltd. 4,398 30,202 
Genworth MI Canada, Inc. 3,705 115,130 
George Weston Ltd. 8,917 665,796 
Gibson Energy, Inc. 17,314 285,487 
Gildan Activewear, Inc. 24,752 912,703 
Granite Real Estate Investment Trust 3,081 140,263 
Great Canadian Gaming Corp. (a) 6,587 253,165 
Great-West Lifeco, Inc. 28,815 724,193 
Guyana Goldfields, Inc. (a) 10,438 7,246 
H&R (REIT) unit 23,980 409,720 
Havilah Mining Corp. (a) 695 130 
Home Capital Group, Inc. (a) 7,082 100,122 
HudBay Minerals, Inc. 28,641 190,698 
Hudson's Bay Co. 14,411 80,139 
Husky Energy, Inc. 36,178 392,646 
Hydro One Ltd. (d) 36,320 587,757 
iA Financial Corp, Inc. 16,294 648,744 
IAMGOLD Corp. (a) 45,413 136,608 
IGM Financial, Inc. 5,756 158,970 
Imperial Oil Ltd. 29,696 862,707 
Innergex Renewable Energy, Inc. 6,435 68,015 
Intact Financial Corp. 14,391 1,177,426 
Inter Pipeline Ltd. 50,063 815,388 
Interfor Corp. (a) 5,374 66,989 
InterRent REIT 1,343 13,623 
Intertape Polymer Group, Inc. 4,330 60,181 
Ivanhoe Mines Ltd. (a) 55,365 134,724 
Jamieson Wellness, Inc. 8,580 115,280 
Just Energy Group, Inc. 14,385 52,506 
Kelt Exploration Ltd. (a) 23,486 97,121 
Keyera Corp. 26,134 603,948 
Killam Apartment (REIT) 32,643 461,247 
Kinaxis, Inc. (a) 2,261 123,556 
Kinder Morgan Canada Ltd. (d) 2,636 29,494 
Kinross Gold Corp. (a) 126,952 403,684 
Kirkland Lake Gold Ltd. 18,147 586,659 
Knight Therapeutics, Inc. (a) 30,762 167,622 
Labrador Iron Ore Royalty Corp. 8,396 194,279 
Largo Resources Ltd. (a) 26,828 33,843 
Laurentian Bank of Canada 15,408 488,106 
Linamar Corp. 5,243 198,887 
Loblaw Companies Ltd. 17,902 876,994 
Lucara Diamond Corp. 4,561 5,686 
Lundin Mining Corp. 73,905 396,639 
MAG Silver Corp. (a) 6,403 62,897 
Magellan Aerospace Corp. 282 3,947 
Magna International, Inc. Class A (sub. vtg.) 33,877 1,885,652 
Major Drilling Group International, Inc. (a) 567 1,744 
Manulife Financial Corp. 204,619 3,767,971 
Maple Leaf Foods, Inc. 7,256 169,308 
Martinrea International, Inc. 4,456 45,335 
Medical Facilities Corp. 378 4,627 
MEG Energy Corp. (a) 14,754 65,637 
Methanex Corp. 7,478 409,931 
Metro, Inc. Class A (sub. vtg.) 25,942 939,156 
Morguard (REIT) 354 3,237 
Morneau Shephell, Inc. 16,831 349,384 
MTY Food Group, Inc. 4,526 186,993 
Mullen Group Ltd. 11,037 82,549 
National Bank of Canada 33,038 1,573,849 
New Gold, Inc. (a) 29,054 24,940 
NexGen Energy Ltd. (a) 39,734 62,877 
Nfi Group, Inc. 5,689 143,871 
Norbord, Inc. 7,035 179,170 
North West Co., Inc. 18,286 386,276 
Northland Power, Inc. 22,651 402,737 
Northview Apartmemt (REIT) 252 5,301 
Northwest Healthcare Properties REIT 930 7,955 
Novagold Resources, Inc. (a) 25,999 103,631 
Nutrien Ltd. 62,667 3,398,809 
NuVista Energy Ltd. (a) 14,019 45,624 
OceanaGold Corp. 63,475 178,149 
Onex Corp. (sub. vtg.) 8,774 508,940 
Open Text Corp. 25,819 992,520 
Osisko Gold Royalties Ltd. 17,675 199,746 
Osisko Mining, Inc. (a) 4,512 9,363 
Pan American Silver Corp. 27,913 354,774 
Pan American Silver Corp. rights (a)(c) 29,057 0 
Paramount Resources Ltd. Class A (a) 2,068 13,769 
Parex Resources, Inc. (a) 21,679 369,273 
Parkland Fuel Corp. 14,862 458,052 
Pason Systems, Inc. 8,839 131,625 
Pembina Pipeline Corp. 51,076 1,826,185 
Pengrowth Energy Corp. (a) 11,159 5,164 
Peyto Exploration & Development Corp. 19,657 88,770 
Power Corp. of Canada (sub. vtg.) 32,707 750,476 
Power Financial Corp. 27,252 649,516 
PrairieSky Royalty Ltd. 25,372 365,704 
Precision Drilling Corp. (a) 18,987 46,628 
Premier Gold Mines Ltd. (a) 3,779 4,739 
Premium Brands Holdings Corp. 2,771 166,566 
Pretium Resources, Inc. (a) 15,621 118,583 
ProMetic Life Sciences, Inc. (a)(b) 22,496 840 
Quebecor, Inc. Class B (sub. vtg.) 22,736 567,000 
Recipe Unlimited Corp. 231 4,656 
Restaurant Brands International, Inc. 23,761 1,550,841 
Richelieu Hardware Ltd. 16,669 258,925 
RioCan (REIT) 22,360 429,942 
Ritchie Bros. Auctioneers, Inc. 10,902 379,377 
Rogers Communications, Inc. Class B (non-vtg.) 36,238 1,824,478 
Rogers Sugar, Inc. 24,244 111,294 
Royal Bank of Canada 138,952 11,074,050 
Russel Metals, Inc. 12,893 227,122 
Sandstorm Gold Ltd. (a) 11,208 60,319 
Saputo, Inc. 23,803 813,925 
Seabridge Gold, Inc. (a) 1,636 19,661 
Secure Energy Services, Inc. 12,279 73,507 
SEMAFO, Inc. (a) 36,265 96,367 
Seven Generations Energy Ltd. (a) 31,542 247,213 
Shaw Communications, Inc. Class B 51,476 1,042,430 
ShawCor Ltd. Class A 16,036 237,961 
Shopify, Inc. Class A (a) 9,267 2,253,285 
Sienna Senior Living, Inc. 9,508 131,155 
Sierra Wireless, Inc. (a) 2,657 35,580 
Silvercorp Metals, Inc. 5,014 11,265 
Sleep Country Canada Holdings, Inc. (d) 1,260 17,475 
Smart (REIT) 7,897 199,709 
SNC-Lavalin Group, Inc. 21,801 543,520 
Spin Master Corp. (a)(d) 1,979 65,780 
Sprott, Inc. 1,346 3,014 
SSR Mining, Inc. (a) 10,928 125,782 
Stantec, Inc. 13,423 336,151 
Stella-Jones, Inc. 10,393 354,915 
Sun Life Financial, Inc. 59,085 2,454,782 
Suncor Energy, Inc. 164,027 5,409,206 
Superior Plus Corp. 15,710 136,966 
Surge Energy, Inc. 1,678 1,816 
Tamarack Valley Energy Ltd. (a) 52,756 107,898 
Teck Resources Ltd. Class B (sub. vtg.) 51,340 1,214,041 
TELUS Corp. 18,032 663,968 
The Stars Group, Inc. (a) 15,929 300,579 
The Toronto-Dominion Bank 181,763 10,368,238 
Theratechnologies, Inc. (a)(b) 9,316 45,686 
Thomson Reuters Corp. 19,126 1,181,937 
Timbercreek Financial Corp. 3,121 21,759 
TMAC Resources, Inc. (a) 1,050 3,041 
TMX Group Ltd. 7,282 464,522 
TORC Oil & Gas Ltd. 5,379 19,272 
Torex Gold Resources, Inc. (a) 14,856 142,051 
Toromont Industries Ltd. 9,104 473,446 
Total Energy Services, Inc. 409 2,992 
Tourmaline Oil Corp. 28,488 425,927 
TransAlta Corp. 47,751 322,213 
TransAlta Renewables, Inc. 35,409 366,592 
TransCanada Corp. 89,994 4,295,153 
Transcontinental, Inc. Class A 7,667 92,139 
TransForce, Inc. 14,221 467,063 
Trican Well Service Ltd. (a) 9,711 10,221 
Tricon Capital Group, Inc. 42,746 339,811 
Turquoise Hill Resources Ltd. (a) 119,799 178,845 
Uni-Select, Inc. 1,404 14,986 
Uranium Participation Corp. (a) 1,297 4,202 
Valener, Inc. 4,187 81,790 
Vermilion Energy, Inc. 19,767 504,762 
Wajax Corp. 186 2,206 
West Fraser Timber Co. Ltd. 5,271 271,360 
Western Forest Products, Inc. 16,341 22,931 
WestJet Airlines Ltd. 1,117 15,767 
Westshore Terminals Investment Corp. 10,705 167,962 
Wheaton Precious Metals Corp. 44,900 971,264 
Whitecap Resources, Inc. 30,120 121,181 
Winpak Ltd. 8,218 270,764 
WSP Global, Inc. 10,925 589,919 
Yamana Gold, Inc. 115,101 252,592 
TOTAL CANADA  166,518,624 
Cayman Islands - 4.4%   
21Vianet Group, Inc. ADR (a) 4,992 39,237 
3SBio, Inc. (d) 156,000 288,344 
500.com Ltd. sponsored ADR Class A (a) 1,268 16,154 
51job, Inc. sponsored ADR (a) 2,753 254,212 
58.com, Inc. ADR (a) 9,969 715,675 
AAC Technology Holdings, Inc. 76,500 496,956 
Agile Property Holdings Ltd. 154,000 232,822 
Airtac International Group 15,134 201,774 
Alibaba Group Holding Ltd. sponsored ADR (a) 132,194 24,531,241 
Anta Sports Products Ltd. 115,000 810,664 
Asia Cement (China) Holdings Corp. 67,500 80,021 
ASM Pacific Technology Ltd. 29,300 339,321 
Ausnutria Dairy Hunan Co. Ltd. (H Shares) 80,000 129,105 
Autohome, Inc. ADR Class A (a)(b) 6,159 711,303 
Baidu.com, Inc. sponsored ADR (a) 28,451 4,729,410 
Baozun, Inc. sponsored ADR (a)(b) 2,719 131,872 
BeiGene Ltd. ADR (a)(b) 3,776 469,092 
Biostime International Holdings Ltd. 21,000 128,760 
Bitauto Holdings Ltd. ADR (a) 1,372 17,616 
BizLink Holding, Inc. 11,062 71,236 
Bosideng International Holdings Ltd. 678,000 186,682 
Camsing International Holding Ltd. 74,000 78,766 
Car, Inc. (a) 92,000 74,470 
Casetek Holdings 1,187 1,982 
Chailease Holding Co. Ltd. 111,160 473,029 
Changyou.com Ltd. (A Shares) ADR 517 10,056 
Cheung Kong Property Holdings Ltd. 255,500 2,051,869 
China Aoyuan Property Group Ltd. 227,000 275,185 
China Conch Venture Holdings Ltd. 176,500 596,223 
China Dongxiang Group Co. Ltd. 229,000 33,862 
China First Capital Group Ltd. (a) 248,000 104,324 
China Goldjoy Group Ltd. 248,000 9,800 
China Harmony New Energy Auto 27,000 9,568 
China High Speed Transmission Equipment Group Co. Ltd. 22,000 16,602 
China Hongqiao Group Ltd. 197,500 162,636 
China Huishan Dairy Holdings Co. Ltd. (a)(c) 51,000 1,365 
China Investment Fund International Holdings Co. Ltd. (c) 72,000 212,013 
China Literature Ltd. (a)(b)(d) 48,800 221,456 
China LNG Group Ltd. (a) 60,000 8,031 
China Logistics Property Holdings Co. Ltd. (a)(d) 109,000 41,267 
China Maple Leaf Educational Systems Ltd. 150,000 69,983 
China Medical System Holdings Ltd. 253,000 224,142 
China Mengniu Dairy Co. Ltd. 294,000 1,086,835 
China Modern Dairy Holdings Ltd. (a) 65,000 9,777 
China Resources Cement Holdings Ltd. 222,000 222,147 
China Resources Land Ltd. 276,000 1,201,484 
China Resources Medical Holdin 29,500 21,435 
China SCE Property Holdings Ltd. 114,000 53,768 
China State Construction International Holdings Ltd. 267,750 277,484 
China Wireless Technologies Ltd. (a)(c) 8,000 734 
China Yuhua Education Corp. Ltd. (d) 250,000 111,539 
China ZhengTong Auto Services Holdings Ltd. 68,000 37,620 
China Zhongwang Holdings Ltd. 250,000 136,396 
ChinaSoft International Ltd. 240,000 136,753 
Chong Sing Holdings Fintech Group (a) 1,116,000 8,109 
CIFI Holdings Group Co. Ltd. 392,000 260,341 
Cimc Enric Holdings Ltd. 12,000 11,656 
CK Hutchison Holdings Ltd. 271,000 2,846,523 
COFCO Meat Holdings Ltd.(a) 92,000 37,645 
Cogobuy Group (a)(d) 5,000 1,836 
Country Garden Holdings Co. Ltd. 778,000 1,253,559 
Country Garden Services Holdings Co. Ltd. 162,000 299,434 
CT Environmental Group Ltd. (c) 26,000 1,127 
Ctrip.com International Ltd. ADR (a) 42,255 1,861,333 
Dali Foods Group Co. Ltd. (d) 164,500 117,009 
Dongyue Group Co. Ltd. 100,000 72,787 
Endeavour Mining Corp. (a) 13,072 185,586 
ENN Energy Holdings Ltd. 89,800 848,228 
Evergrande Real Estate Group Ltd. 261,190 837,361 
Fang Holdings Ltd. ADR (a) 8,426 12,808 
Fanhua, Inc. ADR (b) 2,582 67,080 
Far East Consortium International Ltd. 96,475 45,748 
FIH Mobile Ltd. (a) 298,000 44,445 
Fu Shou Yuan International Group Ltd. 67,000 57,393 
Fufeng Group Ltd. 319,000 168,755 
Fullshare Holdings Ltd. 667,500 74,878 
Future Land Development Holding Ltd. 174,000 207,386 
GCL-Poly Energy Holdings Ltd. (a) 2,014,000 143,769 
GDS Holdings Ltd. ADR (a)(b) 5,284 206,763 
Geely Automobile Holdings Ltd. 524,000 1,051,367 
General Interface Solution Holding Ltd. 27,000 104,411 
Genscript Biotech Corp. (a) 124,000 316,133 
Ginko International Co. Ltd. 1,000 6,844 
Glorious Property Holdings Ltd. (a) 16,000 785 
Goodbaby International Holdings Ltd. 56,000 15,919 
Gourmet Master Co. Ltd. 5,630 35,891 
Greatview Aseptic Pack Co. Ltd. 75,000 45,603 
Greentown China Holdings Ltd. 106,500 96,389 
Greentown Service Group Co. Ltd. 102,000 88,025 
Haitian International Holdings Ltd. 43,000 107,653 
HC International, Inc. (a) 4,000 2,040 
Hengan International Group Co. Ltd. 80,000 705,181 
HKBN Ltd. 65,000 116,332 
Huazhu Group Ltd. ADR (b) 14,214 602,674 
Hutchison China Meditech Ltd. sponsored ADR (a) 4,746 142,760 
Hutchison Telecommunications Hong Kong Holdings Ltd. 76,000 32,164 
IGG, Inc. 97,000 123,154 
Imax China Holding, Inc. (d) 1,700 4,681 
iQIYI, Inc. ADR (a)(b) 14,150 312,857 
JD.com, Inc. sponsored ADR (a) 75,728 2,292,287 
Jiayuan International Group Ltd. 72,968 32,648 
JinkoSolar Holdings Co. Ltd. ADR (a) 1,902 37,013 
Kaisa Group Holdings Ltd. 299,000 126,921 
Kasen International Holdings Ltd. (a) 131,000 106,372 
Kingboard Chemical Holdings Ltd. 86,500 281,725 
Kingboard Laminates Holdings Ltd. 180,000 188,838 
Kingdee International Software Group Co. Ltd. 205,000 250,867 
Kingsoft Corp. Ltd. 81,000 207,022 
KWG Property Holding Ltd. 129,123 151,100 
Lee & Man Paper Manufacturing Ltd. 97,000 78,641 
Leyou Technologies Holdings Ltd. (a) 95,000 27,247 
Li Ning Co. Ltd. (a) 173,000 314,473 
Lifestyle International Holdings Ltd. 48,500 84,452 
Lifetech Scientific Corp. (a) 140,000 29,446 
Lijun International Pharmaceutical Holding Ltd. 108,000 102,014 
Logan Property Holdings Co. Ltd. 158,000 251,759 
Longfor Properties Co. Ltd. 139,500 513,914 
Lonking Holdings Ltd. 89,000 30,178 
Macau Legend Development Ltd. 9,000 1,457 
Meitu, Inc. (a)(d) 130,500 47,909 
Meituan Dianping Class B 34,900 253,582 
Melco Crown Entertainment Ltd. sponsored ADR 24,322 610,482 
MGM China Holdings Ltd. 93,200 191,989 
Minth Group Ltd. 68,000 214,537 
Momo, Inc. ADR 15,610 547,443 
NetDragon WebSoft, Inc. 4,500 13,136 
NetEase, Inc. ADR 7,959 2,264,574 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 14,444 1,378,824 
Nexteer Auto Group Ltd. 90,000 140,883 
Noah Holdings Ltd. sponsored ADR (a) 2,875 156,228 
OP Financial Investments Ltd. 112,000 35,550 
Pacific Textile Holdings Ltd. 56,000 47,400 
Parade Technologies Ltd. 5,000 84,622 
Pinduoduo, Inc. ADR (b) 21,434 476,478 
Powerlong Real Estate Holding Ltd. 90,000 43,710 
Q Technology (Group) Co. Ltd. 11,000 11,344 
Regina Miracle International Holdings Ltd. (d) 2,000 1,611 
Renhe Commercial Holdings Co. Ltd. (a) 3,022,000 100,158 
Ronshine China Holdings Ltd. (a) 39,000 53,692 
Sands China Ltd. 243,600 1,338,359 
Sapiens International Corp. NV 128 1,974 
Semiconductor Manufacturing International Corp. (a) 403,100 431,603 
Shenzhou International Group Holdings Ltd. 74,000 993,295 
Shimao Property Holdings Ltd. 115,500 351,883 
Shui On Land Ltd. 152,000 37,008 
Silergy Corp. 11,000 180,118 
SINA Corp. (a) 6,110 384,563 
Sino Biopharmaceutical Ltd. 749,000 719,899 
SITC International Holdings Co. Ltd. 157,000 166,710 
SOHO China Ltd. 96,500 34,935 
Sohu.Com Ltd. ADR (a) 1,728 35,718 
Sunac China Holdings Ltd. 245,000 1,263,289 
Sunny Optical Technology Group Co. Ltd. 74,100 903,486 
TAL Education Group ADR (a) 35,901 1,381,111 
Tarena International, Inc. ADR 541 2,748 
Tencent Holdings Ltd. 580,825 28,627,507 
Tencent Music Entertainment Group ADR (a)(b) 12,449 214,123 
Texhong Textile Group Ltd. 1,500 2,031 
The United Laboratories International Holdings Ltd. 40,000 23,404 
Tianneng Power International Ltd. 52,000 48,786 
Tibet Water Resources Ltd. (a) 157,000 45,830 
Tingyi (Cayman Islands) Holding Corp. 228,000 374,924 
Tongda Group Holdings Ltd. 100,000 10,835 
Towngas China Co. Ltd. 83,063 66,071 
TPK Holding Co. Ltd. 9,000 16,601 
Truly International Holdings Ltd. (a) 70,000 11,779 
Tuniu Corp. Class A sponsored ADR (a) 220 1,012 
Uni-President China Holdings Ltd. 139,000 127,221 
Value Partners Group Ltd. 333,000 250,446 
Vinda International Holdings Ltd. 26,000 49,847 
Vipshop Holdings Ltd. ADR (a) 50,303 433,109 
Want Want China Holdings Ltd. 525,000 416,263 
Weibo Corp. sponsored ADR (a)(b) 6,145 420,933 
WH Group Ltd. (d) 919,500 1,090,066 
Wharf Real Estate Investment Co. Ltd. 121,000 926,996 
Wuxi Biologics (Cayman), Inc. (a)(d) 55,000 553,169 
Wynn Macau Ltd. 156,000 447,430 
Xiaomi Corp. Class B (b)(d) 348,600 534,134 
Xingda International Holdings Ltd. 12,674 4,023 
Xinyi Glass Holdings Ltd. 184,000 210,157 
Xinyi Solar Holdings Ltd. 441,050 251,312 
XTEP International Holdings Ltd. 46,500 26,496 
Yihai International Holding Ltd. 46,000 226,927 
Yuzhou Properties Co. 316,410 166,982 
YY, Inc. ADR (a) 5,665 479,316 
Zai Lab Ltd. ADR (a) 2,957 78,804 
Zhen Ding Technology Holding Ltd. 63,000 225,277 
Zhongsheng Group Holdings Ltd. Class H 41,000 107,664 
ZTO Express (Cayman), Inc. sponsored ADR (b) 34,087 679,354 
TOTAL CAYMAN ISLANDS  113,294,574 
Chile - 0.2%   
AES Gener SA 171,111 46,483 
Aguas Andinas SA 274,685 158,164 
Banco de Chile (a) 1,878,572 275,615 
Banco de Credito e Inversiones (a) 4,681 311,670 
Banco Santander Chile 5,804,716 407,950 
CAP SA 12,581 143,735 
Cencosud SA 182,792 346,800 
Colbun SA (a) 1,067,569 238,639 
Compania Cervecerias Unidas SA 14,702 203,175 
Compania de Petroleos de Chile SA (COPEC) 38,397 481,876 
Compania Sud Americana de Vapores SA (a) 953,281 30,430 
CorpBanca SA 29,118,503 260,102 
E-CL SA 28,960 55,543 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 25,415 266,150 
Empresas CMPC SA 125,292 421,734 
Enel Chile SA 2,886,623 290,879 
Enersis SA 2,960,221 519,448 
Forus SA 3,734 9,769 
Inversiones Aguas Metropolitanas SA 45,620 70,380 
Inversiones La Construccion SA 1,901 33,229 
LATAM Airlines Group SA 26,619 263,989 
Parque Arauco SA 107,763 297,530 
Ripley Corp. SA 21,855 18,822 
S.A.C.I. Falabella 66,394 490,128 
Salfacorp SA 18,503 24,232 
SMU SA 1,001,293 264,626 
Sonda SA 38,859 60,621 
Vina Concha y Toro SA 11,812 24,869 
TOTAL CHILE  6,016,588 
China - 2.3%   
Agricultural Bank of China Ltd. (H Shares) 2,796,000 1,290,220 
Air China Ltd. (H Shares) 302,000 359,945 
Aluminum Corp. of China Ltd. (H Shares) (a) 356,000 139,318 
Angang Steel Co. Ltd. (H Shares) 108,000 72,553 
Anhui Conch Cement Co. Ltd. (H Shares) 121,500 741,099 
AVIC Shenyang Aircraft Co. Ltd. (A Shares) (a) 15,400 70,199 
AviChina Industry & Technology Co. Ltd. (H Shares) 132,000 77,570 
Baic Motor Corp. Ltd. (H Shares) (d) 229,000 160,552 
Bank Communications Co. Ltd. (H Shares) 880,000 741,485 
Bank of China Ltd.:   
(A Shares) 1,057,700 610,915 
(H Shares) 6,561,000 3,127,950 
BBMG Corp. (H Shares) 192,000 67,550 
Beijing Capital International Airport Co. Ltd. (H Shares) 224,000 199,307 
Beijing Capital Land Ltd. (H Shares) 74,000 31,035 
BYD Co. Ltd. (H Shares) (b) 66,500 452,669 
CGN Power Co. Ltd. (H Shares) (d) 1,576,000 415,858 
China BlueChemical Ltd. (H Shares) 156,000 53,095 
China Cinda Asset Management Co. Ltd. (H Shares) 1,362,000 362,862 
China CITIC Bank Corp. Ltd. (H Shares) 1,010,000 647,601 
China Coal Energy Co. Ltd. (H Shares) 183,000 80,713 
China Communications Construction Co. Ltd. (H Shares) 394,000 379,194 
China Communications Services Corp. Ltd. (H Shares) 216,000 174,016 
China Construction Bank Corp. (H Shares) 9,534,000 8,404,848 
China Eastern Airlines Corp. Ltd. (H Shares) 120,000 85,203 
China Everbright Bank Co. Ltd. (H Shares) 516,000 254,553 
China Galaxy Securities Co. Ltd. (H Shares) 420,500 274,980 
China Huarong Asset Management Co. Ltd. (d) 951,000 203,661 
China International Capital Corp. Ltd. (H Shares) (d) 96,000 206,078 
China Life Insurance Co. Ltd. (H Shares) 790,000 2,244,872 
China Longyuan Power Grid Corp. Ltd. (H Shares) 294,000 202,376 
China Merchants Bank Co. Ltd. (H Shares) 414,000 2,048,889 
China Minsheng Banking Corp. Ltd. (H Shares) 642,000 482,024 
China Molybdenum Co. Ltd. (H Shares) 423,000 159,067 
China National Building Materials Co. Ltd. (H Shares) 497,350 462,176 
China Oilfield Services Ltd. (H Shares) 184,000 197,022 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 296,600 1,215,543 
China Petroleum & Chemical Corp. (H Shares) 2,604,000 2,001,720 
China Railway Construction Corp. Ltd. (H Shares) 252,500 298,051 
China Railway Group Ltd. (H Shares) 366,000 288,329 
China Railway Signal & Communications Corp. (H Shares) (d) 259,000 190,169 
China Reinsurance Group Corp. (H Shares) 823,000 167,856 
China Shenhua Energy Co. Ltd.:   
(A Shares) 236,900 692,595 
(H Shares) 67,500 149,201 
China Shipbuilding Industry Co. (A Shares) 447,200 376,490 
China Shipping Development Co. Ltd. (H Shares) 108,000 69,799 
China Southern Airlines Ltd. (H Shares) 462,000 402,825 
China Telecom Corp. Ltd. (H Shares) 1,396,000 722,486 
China Tower Corp. Ltd. (H Shares) (d) 4,014,000 1,084,754 
China United Network Communications Ltd. (A Shares) 178,200 176,483 
China Vanke Co. Ltd. (H Shares) 136,200 526,931 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 555,000 324,024 
CITIC Securities Co. Ltd. (H Shares) 283,500 612,910 
COSCO SHIPPING Holdings Co. Ltd. (H Shares) (a) 230,000 107,014 
CRRC Corp. Ltd. (H Shares) 398,000 347,530 
Dongfeng Motor Group Co. Ltd. (H Shares) 252,000 244,457 
Fuyao Glass Industries Group Co. Ltd. (H Shares) (d) 36,000 126,428 
GD Power Development Co. Ltd. (A Shares) 1,011,700 407,089 
GF Securities Co. Ltd. (H Shares) 190,600 257,541 
Great Wall Motor Co. Ltd. (H Shares) 264,000 214,369 
Guangzhou Automobile Group Co. Ltd. (H Shares) 365,600 392,873 
Guangzhou R&F Properties Co. Ltd. (H Shares) 102,400 203,369 
Guotai Junan Securities Co. Ltd. (H Shares) (d) 80,400 171,770 
Haitong Securities Co. Ltd.:   
rights (a)(c) 12,971 3,704 
(H Shares) 363,200 467,612 
Hengli Petrochemical Co. Ltd. (A Shares) 45,900 121,175 
Huadian Power International Corp. Ltd. (H Shares) 206,000 87,969 
Huaneng Power International, Inc. (H Shares) 488,000 312,278 
Huaneng Renewables Corp. Ltd. (H Shares) 630,000 181,496 
Huatai Securities Co. Ltd. (H Shares) (d) 198,800 374,042 
Industrial & Commercial Bank of China Ltd. (H Shares) 6,978,000 5,239,193 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 11,500 13,766 
Jiangsu Expressway Co. Ltd. (H Shares) 198,000 281,674 
Jiangxi Copper Co. Ltd. (H Shares) 329,000 436,162 
Kweichow Moutai Co. Ltd. (A Shares) 3,000 433,859 
Legend Holdings Corp. (H Shares) (d) 21,100 57,425 
Maanshan Iron & Steel Co. Ltd. (H Shares) 394,000 181,310 
Metallurgical Corp. China Ltd. (H Shares) 435,000 120,328 
NARI Technology Co. Ltd. (A Shares) 66,700 197,379 
New China Life Insurance Co. Ltd. (H Shares) 115,500 639,720 
People's Insurance Co. of China Group (H Shares) 829,000 339,217 
PetroChina Co. Ltd. (H Shares) 1,908,000 1,209,469 
PICC Property & Casualty Co. Ltd. (H Shares) 709,000 796,233 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 542,500 6,566,781 
Postal Savings Bank of China Co. Ltd. (H Shares) (d) 793,000 482,181 
SF Holding Co. Ltd. (A Shares) 45,200 221,943 
Shandong Linglong Tyre Co. Ltd. (A Shares) 57,300 146,166 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 156,000 153,121 
Shanghai Electric Group Co. Ltd. (H Shares) 224,000 87,375 
Shanghai Environment Group Co. Ltd. 239 524 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 44,000 151,157 
Shanghai Fudan Microelectronics Group Co. Ltd. (H Shares) (a) 38,000 62,584 
Shanghai Lujiazui Finance Trust Ltd. (B Shares) 11,080 16,775 
Shanghai Pharmaceuticals Holding Co. Ltd. (H Shares) 149,000 311,873 
Shanghai SMI Holding Co. Ltd. (A Shares) 861 995 
Sinopec Engineering Group Co. Ltd. (H Shares) 120,500 116,433 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 234,000 105,892 
Sinopharm Group Co. Ltd. (H Shares) 135,200 530,818 
Sinotrans Ltd. (H Shares) 123,000 50,487 
TCL Corp. (A Shares) 580,700 309,539 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 41,000 56,863 
TravelSky Technology Ltd. (H Shares) 92,000 236,309 
Tsingtao Brewery Co. Ltd. (H Shares) 42,000 267,693 
Weichai Power Co. Ltd. (H Shares) 265,000 433,064 
Xinjiang Goldwind Science & Technology Co. Ltd. (H Shares) (b) 115,192 125,694 
Yanzhou Coal Mining Co. Ltd. (H Shares) 376,000 400,693 
YiChang HEC ChangJiang Pharmaceutical Co. Ltd. (H Shares) (d) 7,600 37,638 
Yonyou Network Technology Co. Ltd. (A Shares) 11,100 52,032 
Zhaojin Mining Industry Co. Ltd. (H Shares) 129,000 110,997 
Zhejiang Expressway Co. Ltd. (H Shares) 184,000 197,257 
ZhongAn Online P & C Insurance Co. Ltd. (H Shares) (a)(d) 19,600 70,707 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 48,300 245,046 
Zijin Mng Group Co. Ltd. (H Shares) 872,000 340,139 
ZTE Corp. (H Shares) 76,000 241,230 
TOTAL CHINA  60,878,078 
Colombia - 0.1%   
Almacenes Exito SA 14,313 64,189 
Bancolombia SA 21,565 262,789 
Cementos Argos SA 27,656 69,028 
Corporacion Financiera Colombiana SA 2,051 15,960 
Ecopetrol SA 467,338 431,456 
Grupo de Inversiones Suramerica SA 23,187 258,171 
Interconexion Electrica SA ESP 59,626 291,745 
Inversiones Argos SA 23,892 135,966 
TOTAL COLOMBIA  1,529,304 
Cyprus - 0.0%   
Ros Agro PLC unit 19,095 221,498 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 15,831 368,157 
Komercni Banka A/S 5,759 218,216 
MONETA Money Bank A/S (d) 63,118 202,156 
TOTAL CZECH REPUBLIC  788,529 
Denmark - 1.1%   
A.P. Moller - Maersk A/S:   
Series A 409 498,323 
Series B 645 831,466 
ALK-Abello A/S (a) 476 80,879 
Alm. Brand A/S 2,452 23,373 
Ambu A/S Series B 17,756 509,368 
Bang & Olufsen A/S Series B (a) 1,191 10,378 
Bavarian Nordic A/S (a) 2,538 53,209 
Carlsberg A/S Series B 11,028 1,424,496 
Christian Hansen Holding A/S 10,614 1,082,720 
Coloplast A/S Series B 12,384 1,336,206 
Dampskibsselskabet NORDEN A/S 849 13,456 
Danske Bank A/S 72,413 1,284,250 
Det Forenede Dampskibs-Selskab (DFDS) A/S 2,456 116,522 
DONG Energy A/S (d) 18,707 1,432,190 
DSV de Sammensluttede Vognmaend A/S 18,873 1,743,746 
FLSmidth & Co. A/S 6,161 309,147 
Genmab A/S (a) 6,467 1,073,575 
GN Store Nord A/S 14,202 726,924 
H Lundbeck A/S 6,413 269,765 
ISS Holdings A/S 20,252 629,804 
Jyske Bank A/S (Reg.) 7,797 314,045 
Matas A/S 555 5,511 
Netcompany Group A/S (d) 3,862 137,740 
Nilfisk Holding A/S (a) 3,634 153,412 
NKT Holding A/S (a) 895 16,485 
NNIT A/S (d) 144 3,795 
Novo Nordisk A/S Series B 185,956 9,110,831 
Novozymes A/S Series B 22,600 1,053,216 
Pandora A/S 12,786 536,312 
Per Aarsleff Holding A/S 5,789 191,769 
Rockwool International A/S Series B 820 219,035 
Royal Unibrew A/S 4,982 357,017 
Scandinavian Tobacco Group A/S (d) 21,023 250,300 
Schouw & Co. 759 53,958 
SimCorp A/S 3,827 375,151 
Spar Nord Bank A/S 3,353 28,814 
Sydbank A/S 6,192 133,676 
The Drilling Co. of 1972 A/S (a) 2,108 161,830 
Topdanmark A/S 6,497 350,018 
Tryg A/S 14,794 452,068 
Vestas Wind Systems A/S 19,908 1,800,492 
William Demant Holding A/S (a) 10,290 324,640 
Zealand Pharma A/S (a) 2,658 54,747 
TOTAL DENMARK  29,534,659 
Egypt - 0.0%   
Commercial International Bank SAE (a) 174,492 780,997 
Eastern Tobacco Co. 102,240 108,314 
EFG-Hermes Holding SAE (a) 48,401 44,821 
Elsewedy Electric Co. 122,375 111,114 
Global Telecom Holding (a) 150,711 39,587 
Talaat Moustafa Group Holding 60,089 40,071 
TOTAL EGYPT  1,124,904 
Faroe Islands - 0.0%   
Bakkafrost 3,867 198,562 
Finland - 0.8%   
Cargotec Corp. (B Shares) 4,319 176,910 
Caverion Corp. 13,709 99,790 
Citycon Oyj 5,700 58,241 
Cramo Oyj (B Shares) 1,158 24,353 
DNA Oyj 7,463 177,622 
Elisa Corp. (A Shares) 15,915 675,275 
F-Secure Oyj 5,468 16,835 
Finnair Oyj 1,883 15,734 
Fortum Corp. 43,878 927,184 
Huhtamaki Oyj 10,521 401,330 
KCI Konecranes Oyj 6,493 270,328 
Kemira Oyj 7,197 101,790 
Kesko Oyj 5,941 308,517 
Kone Oyj (B Shares) 31,792 1,742,245 
M-real OYJ (B Shares) 20,192 112,693 
Metso Corp. 14,994 558,502 
Neste Oyj 36,951 1,220,118 
Nokia Corp. 588,454 3,092,097 
Nokian Tyres PLC 14,565 487,143 
Nordea Bank ABP (Stockholm Stock Exchange) 309,609 2,435,804 
Oriola-KD Oyj 973 2,510 
Orion Oyj (B Shares) 11,025 366,394 
Outokumpu Oyj (A Shares) 54,668 208,412 
Outotec Oyj (a) 8,111 42,721 
Ramirent Oyj 2,531 17,742 
Sampo Oyj (A Shares) 45,307 2,074,521 
Sanoma Corp. 9,374 95,571 
Stora Enso Oyj (R Shares) 58,832 730,135 
TietoEnator Oyj 4,303 122,201 
Tikkurila Oyj 2,101 35,159 
UPM-Kymmene Corp. 55,301 1,557,463 
Uponor Oyj 2,335 27,892 
Valmet Corp. 11,324 311,174 
Wartsila Corp. 46,858 747,345 
YIT-Yhtyma OY 33,439 204,966 
TOTAL FINLAND  19,446,717 
France - 6.0%   
Accor SA 20,260 853,499 
Aeroports de Paris 3,064 624,083 
Air France KLM (Reg.) (a) 23,542 271,968 
Air Liquide SA 42,737 5,685,381 
Akka Technologies SA 1,401 102,767 
Akwel 398 7,767 
Albioma 2,504 58,838 
ALD SA (d) 12,819 188,349 
Alstom SA 16,531 726,814 
ALTEN 2,453 267,700 
Altran Technologies SA 27,071 352,361 
Amundi SA (d) 5,764 414,077 
Arkema SA 8,487 870,610 
Atos Origin SA 9,604 988,640 
AXA SA 194,145 5,177,175 
Beneteau SA 896 11,366 
BIC SA 2,448 211,005 
bioMerieux SA 4,404 349,471 
BNP Paribas SA 117,253 6,241,738 
Boiron SA 904 48,212 
Bollore SA 110,111 523,148 
Bonduelle SCA 2,541 81,367 
Bourbon Corp. (FR) (a) 123 288 
Bouygues SA 22,496 846,265 
Bureau Veritas SA 25,096 635,574 
Capgemini SA 16,878 2,046,372 
Carbone Lorraine 628 22,328 
Carrefour SA 59,799 1,165,016 
Casino Guichard Perrachon SA (b) 6,445 263,848 
Cellectis SA (a) 7,070 140,622 
CNP Assurances 19,363 456,937 
Coface SA 7,564 76,354 
Compagnie de St. Gobain 49,882 2,045,159 
Compagnie Generale de Geophysique SA (a) 66,115 119,686 
Compagnie Plastic Omnium 5,742 173,822 
Covivio 5,149 557,299 
Credit Agricole SA 113,720 1,559,916 
Danone SA 61,166 4,946,954 
Dassault Aviation SA 294 444,833 
Dassault Systemes SA 13,664 2,161,668 
DBV Technologies SA (a) 1,752 34,205 
Derichebourg 8,793 38,265 
Devoteam SA 336 39,344 
Edenred SA 24,089 1,135,036 
EDF SA 64,334 926,496 
Eiffage SA 8,749 913,579 
Elior SA (d) 11,494 159,083 
Elis SA 22,196 395,831 
ENGIE 180,407 2,671,959 
Eramet SA 906 63,328 
Essilor International SA 30,053 3,661,614 
Etablissements Maurel & Prom 1,764 6,668 
Eurazeo SA 3,521 276,243 
Europcar Groupe SA (d) 6,506 54,254 
Eutelsat Communications 22,175 400,182 
Faurecia SA 9,318 473,224 
Fonciere Financiere et Part SA 717 82,670 
Gaztransport et Technigaz SA 1,527 138,128 
Gecina SA 4,924 735,079 
Genfit (a)(b) 2,027 51,062 
Groupe Eurotunnel SA 48,536 781,185 
Groupe FNAC SA (a) 1,519 133,486 
Guerbet 529 31,565 
Hermes International SCA 3,080 2,166,680 
ICADE 3,036 259,475 
ID Logistics Group (a) 578 103,337 
Iliad SA 3,294 335,096 
Imerys SA 6,126 326,231 
Industrielle d'Aviation Latecoere SA (a) 2,438 8,901 
Ingenico SA 5,655 476,713 
Innate Pharma SA (a) 6,942 45,510 
Interparfums SA 1,040 52,083 
Ipsen SA 3,701 432,123 
Ipsos SA 1,876 54,392 
JCDecaux SA 5,391 176,559 
Kaufman & Broad SA 2,082 83,039 
Kering SA 7,662 4,528,879 
Klepierre SA 21,559 765,799 
Korian 3,887 156,337 
L'Oreal SA 24,482 6,730,204 
Lagardere S.C.A. (Reg.) 17,622 479,495 
Legrand SA 26,347 1,936,168 
LVMH Moet Hennessy - Louis Vuitton SA 27,950 10,973,652 
M6 Metropole Television SA 1,456 28,889 
Maisons du Monde SA (d) 2,980 64,107 
Mercialys SA 6,406 84,208 
Michelin CGDE Series B 17,757 2,296,166 
Natixis SA 88,334 519,948 
Neopost SA 1,872 45,898 
Nexans SA 1,598 55,974 
Nexity 5,303 247,906 
Orange SA 198,422 3,101,049 
Orpea 5,101 621,903 
Pernod Ricard SA 20,521 3,575,591 
Peugeot Citroen SA 58,656 1,536,821 
Publicis Groupe SA 21,310 1,266,588 
Rallye SA 2,857 33,262 
Remy Cointreau SA 3,904 520,193 
Renault SA 19,161 1,307,081 
Rexel SA 44,651 599,965 
Rubis 9,497 519,810 
Safran SA 33,532 4,887,662 
Sanofi SA 115,019 10,035,327 
Sartorius Stedim Biotech 2,845 386,105 
Schneider Electric SA 56,263 4,761,872 
SCOR SE 17,206 701,684 
SEB SA 2,660 486,900 
Societe Generale Series A 76,595 2,428,942 
Sodexo SA 8,813 1,010,707 
Soitec SA (a) 2,491 251,871 
Solocal Group SA (a) 52,028 55,320 
Sopra Steria Group 1,972 251,702 
SPIE SA 15,940 307,507 
SR Teleperformance SA 6,349 1,219,834 
Suez Environnement SA 43,704 613,956 
Tarkett SA 4,839 117,232 
Technicolor SA (a) 20,446 24,492 
Television Francaise 1 SA 9,678 105,726 
Thales SA 10,303 1,230,120 
The Lisi Group 3,203 107,236 
The Vicat Group 1,777 93,874 
Total SA 241,683 13,435,339 
Trigano SA 572 54,789 
Ubisoft Entertainment SA (a) 8,831 843,698 
Valeo SA 25,425 923,085 
Vallourec SA (a)(b) 33,723 83,590 
Veolia Environnement SA 55,373 1,307,960 
VINCI SA 50,232 5,073,244 
Virbac SA (a) 278 49,515 
Vivendi SA 105,066 3,049,629 
Wendel SA 3,809 527,186 
Worldline SA (a)(d) 4,007 252,352 
TOTAL FRANCE  156,116,251 
Germany - 5.1%   
Aareal Bank AG 4,189 146,167 
adidas AG 18,325 4,708,766 
ADLER Real Estate AG 2,189 31,426 
ADVA Optical Networking SE (a) 851 7,273 
Aixtron AG (a) 11,930 137,152 
Allianz SE 41,233 9,966,600 
alstria office REIT-AG 24,784 388,612 
Amadeus Fire AG 1,632 217,458 
AURELIUS AG (b) 5,119 254,117 
Aurubis AG 4,285 208,679 
Axel Springer Verlag AG 7,254 410,872 
BASF AG 93,546 7,637,186 
Bayer AG 96,888 6,448,453 
Bayerische Motoren Werke AG (BMW) 33,112 2,818,806 
BayWa AG 32 942 
Bechtle AG 4,520 463,364 
Beiersdorf AG 10,407 1,137,368 
Bertrandt AG 366 28,530 
Bilfinger Berger AG 2,584 95,351 
Borussia Dortmund GmbH & Co. KGaA 5,961 57,264 
Brenntag AG 17,773 958,038 
CANCOM AG 2,996 151,080 
Capital Stage AG 315 2,293 
Carl Zeiss Meditec AG 4,247 417,039 
CeWe Color Holding AG 417 39,381 
Comdirect Bank AG 2,144 24,961 
Commerzbank AG 110,223 990,492 
CompuGroup Medical AG 1,498 99,129 
Continental AG 11,748 1,941,697 
Corestate Capital Holding SA 2,573 103,170 
Covestro AG (d) 19,923 1,089,350 
CTS Eventim AG 9,151 468,438 
Daimler AG (Germany) 92,442 6,048,863 
Delivery Hero AG (a)(d) 10,814 498,380 
Deutsche Bank AG 196,705 1,625,781 
Deutsche Beteiligungs AG 642 25,490 
Deutsche Borse AG 19,662 2,627,283 
Deutsche EuroShop AG 12,867 385,902 
Deutsche Lufthansa AG 27,221 657,029 
Deutsche Pfandbriefbank AG (d) 13,252 184,455 
Deutsche Post AG 98,186 3,412,988 
Deutsche Telekom AG 321,820 5,392,063 
Deutsche Wohnen AG (Bearer) 35,828 1,610,200 
Deutz AG 15,525 152,885 
DIC Asset AG 3,887 42,594 
Draegerwerk AG & Co. KGaA 391 18,265 
Drillisch AG 4,920 183,427 
Duerr AG 6,646 299,135 
DWS Group GmbH & Co. KGaA (d) 6,228 228,839 
E.ON AG 209,404 2,251,454 
ElringKlinger AG 2,008 15,225 
Evonik Industries AG 17,837 531,359 
Evotec OAI AG (a) 13,501 334,351 
Fraport AG Frankfurt Airport Services Worldwide 4,934 408,629 
Freenet AG 18,378 430,807 
Fresenius Medical Care AG & Co. KGaA 22,062 1,859,462 
Fresenius SE & Co. KGaA 42,772 2,426,478 
GEA Group AG 17,989 502,797 
Gerresheimer AG 4,109 308,780 
GFT Technologies AG 96 976 
Gildemeister AG 444 22,883 
Grenkeleasing AG 3,340 354,573 
Hamborner (REIT) AG 941 9,875 
Hamburger Hafen und Logistik AG 695 17,461 
Hannover Reuck SE 5,516 831,499 
Hapag-Lloyd AG (d) 4,145 127,616 
HeidelbergCement Finance AG 13,934 1,125,243 
Heidelberger Druckmaschinen AG (a) 8,478 15,832 
HelloFresh AG (a) 6,038 60,950 
Henkel AG & Co. KGaA 14,495 1,381,082 
Hochtief AG 2,838 423,352 
Hornbach Holding AG & Co. KGaA 1,586 86,008 
Hugo Boss AG 8,010 558,446 
Hypoport AG (a) 95 19,414 
INDUS Holding AG 2,082 110,804 
Infineon Technologies AG 114,227 2,707,818 
innogy SE (d) 9,710 450,768 
Isra Vision AG 710 28,429 
Jenoptik AG 5,977 235,974 
JOST Werke AG (d) 1,747 64,367 
K&S AG 26,784 543,140 
KION Group AG 8,084 553,451 
Kloeckner & Co. AG 6,272 44,002 
Koenig & Bauer AG 443 21,475 
Krones AG 1,018 94,711 
KWS Saat AG 795 53,946 
Lanxess AG 12,219 705,799 
LEG Immobilien AG 6,426 747,768 
LEONI AG 3,228 74,366 
Merck KGaA 13,240 1,408,966 
Metro AG (a) 21,837 146,464 
Metro Wholesale & Food Specialist AG 20,745 351,341 
Morphosys AG (a) 3,259 323,128 
MTU Aero Engines Holdings AG 5,248 1,234,327 
Muenchener Rueckversicherungs AG 14,737 3,685,971 
Nemetschek Se 1,784 329,154 
Nordex Se (a) 3,712 60,119 
NORMA Group AG 3,332 157,484 
Open Business Club AG 589 218,996 
OSRAM Licht AG 9,509 325,185 
Patrizia Immobilien AG 7,349 153,066 
Pfeiffer Vacuum Technology AG 438 73,542 
ProSiebenSat.1 Media AG 23,504 371,564 
Puma AG 899 556,088 
Rational AG 302 203,911 
Rheinmetall AG 5,229 599,974 
Rhoen-Klinikum AG 1,417 41,799 
RIB Software AG 2,429 47,676 
Rocket Internet AG (a)(d) 14,797 390,013 
RWE AG 50,821 1,297,909 
Salzgitter AG 6,642 218,797 
SAP SE 98,848 12,742,322 
Scout24 AG (b)(d) 11,503 592,191 
SGL Carbon AG (a) 4,281 38,220 
Siemens AG 75,241 9,021,561 
Siemens Healthineers AG (d) 16,333 696,492 
Siltronic AG 2,691 263,672 
Sixt AG 1,921 213,843 
SLM Solutions Group AG (a) 214 2,472 
SMA Solar Technology AG 508 11,555 
Software AG (Bearer) 4,236 161,347 
STRATEC Biomedical Systems AG 452 31,787 
Stroer Out-of-Home Media AG 4,978 336,395 
Suedzucker AG (Bearer) 7,196 110,573 
SURTECO SE 60 1,686 
Symrise AG 12,645 1,215,452 
TAG Immobilien AG 18,105 406,944 
Takkt AG 3,255 51,184 
Telefonica Deutschland Holding AG 105,880 343,915 
Thyssenkrupp AG 47,827 672,412 
TLG Immobilien AG 8,617 253,702 
TUI AG (GB) 48,645 541,592 
Uniper SE 19,973 605,070 
United Internet AG 11,585 464,266 
Varta AG (a) 2,021 90,670 
Volkswagen AG 4,667 834,380 
Vonovia SE 48,981 2,443,052 
Vossloh AG 228 10,485 
Wacker Construction Equipment AG 1,721 47,678 
WashTec AG 1,228 96,550 
Wirecard AG (b) 12,186 1,827,387 
Wustenrot & Wurttembergische AG 3,536 72,577 
Zalando SE (a)(d) 11,865 558,128 
Zooplus AG (a) 285 30,911 
TOTAL GERMANY  132,370,348 
Gibraltar - 0.0%   
888 Holdings PLC 26,779 50,529 
Greece - 0.1%   
Aegean Airlines SA 3,180 30,067 
Alpha Bank AE (a) 139,658 216,477 
Athens Water Supply & Sewage Co. SA 7,606 50,759 
EFG Eurobank Ergasias SA (a) 148,271 123,894 
Ff Group (a)(c) 881 2,372 
GEK Group of Companies SA (a) 14,236 82,071 
Greek Organization of Football Prognostics SA 25,576 275,386 
Grivalia Properties REIC 7,311 92,988 
Hellenic Exchanges Holding SA 387 1,945 
Hellenic Telecommunications Organization SA 23,103 320,795 
Holding Co. ADMIE IPTO SA 26,627 51,248 
Jumbo SA 13,307 241,787 
Motor Oil (HELLAS) Corinth Refineries SA 5,716 145,788 
Mytilineos Holdings SA 9,797 106,202 
National Bank of Greece SA (a) 67,067 146,984 
Piraeus Bank SA 11,866 24,023 
Public Power Corp. of Greece (a) 8,918 12,603 
Titan Cement Co. SA (Reg.) 6,530 141,794 
TOTAL GREECE  2,067,183 
Hong Kong - 2.5%   
AIA Group Ltd. 1,230,200 12,596,554 
Bank of East Asia Ltd. 166,503 525,310 
Beijing Enterprises Holdings Ltd. 66,500 353,913 
Beijing Tong Ren Tang Chinese Medicine Co. Ltd. 2,000 3,789 
BOC Hong Kong (Holdings) Ltd. 366,000 1,637,594 
BYD Electronic International Co. Ltd. 80,000 142,974 
Champion (REIT) 208,000 176,055 
China Agri-Industries Holdings Ltd. 225,000 72,564 
China Everbright International Ltd. 291,370 285,249 
China Everbright Ltd. 204,000 371,344 
China Jinmao Holdings Group Ltd. 576,000 372,996 
China Merchants Holdings International Co. Ltd. 111,671 225,483 
China Mobile Ltd. 618,500 5,901,357 
China Overseas Grand Oceans Group Ltd. 106,500 56,747 
China Overseas Land and Investment Ltd. 386,000 1,444,154 
China Power International Development Ltd. 915,666 243,950 
China Resources Beer Holdings Co. Ltd. 170,666 779,928 
China Resources Pharmaceutical Group Ltd. (d) 130,000 184,938 
China Resources Power Holdings Co. Ltd. 214,000 299,526 
China Taiping Insurance Group Ltd. 196,400 595,849 
China Travel International Investment HK Ltd. 158,000 36,455 
China Unicom Ltd. 650,000 771,793 
CITIC 1616 Holdings Ltd. 211,000 87,415 
CITIC Pacific Ltd. 509,000 740,972 
CLP Holdings Ltd. 166,000 1,882,228 
CNOOC Ltd. 1,798,000 3,265,769 
CSPC Pharmaceutical Group Ltd. 504,000 971,405 
Dah Sing Banking Group Ltd. 141,600 270,753 
Dah Sing Financial Holdings Ltd. 19,200 100,714 
Far East Horizon Ltd. 146,000 162,102 
Fosun International Ltd. 277,500 430,145 
Fushan International Energy Group Ltd. 94,000 22,767 
Galaxy Entertainment Group Ltd. 241,000 1,801,786 
Guangdong Investment Ltd. 304,000 569,651 
Guotai Junan International Holdings Ltd. 205,000 41,289 
GZI (REIT) 194,000 131,068 
Hang Lung Group Ltd. 114,000 339,320 
Hang Lung Properties Ltd. 221,000 519,483 
Hang Seng Bank Ltd. 73,400 1,927,442 
Henderson Land Development Co. Ltd. 119,950 738,526 
Hong Kong & China Gas Co. Ltd. 856,493 2,044,671 
Hong Kong Exchanges and Clearing Ltd. 124,376 4,312,445 
Hopewell Holdings Ltd. 50,000 247,298 
Hua Hong Semiconductor Ltd. (d) 50,000 118,167 
Hysan Development Co. Ltd. 91,000 509,242 
Lai Sun Development Co. Ltd. 7,800 12,170 
Lenovo Group Ltd. 700,000 648,710 
Link (REIT) 206,000 2,402,738 
Melco International Development Ltd. 128,000 313,930 
MMG Ltd. (a) 240,000 103,712 
MTR Corp. Ltd. 122,047 726,544 
New World Development Co. Ltd. 626,289 1,036,257 
PCCW Ltd. 538,000 324,386 
Poly Property Group Co. Ltd. 135,000 56,617 
Power Assets Holdings Ltd. 151,000 1,052,889 
Prosperity (REIT) 13,000 5,585 
Shanghai Industrial Holdings Ltd. 148,000 347,889 
Shenzhen Investment Ltd. 723,290 287,664 
Shun Tak Holdings Ltd. 22,000 9,787 
Sino Land Ltd. 369,232 649,526 
Sino-Ocean Group Holding Ltd. 489,500 219,641 
Sinotruk Hong Kong Ltd. 68,000 147,185 
SJM Holdings Ltd. 268,000 323,521 
Sun Art Retail Group Ltd. 353,555 308,721 
Sun Hung Kai Properties Ltd. 151,500 2,614,866 
Sunlight (REIT) 13,000 9,562 
Swire Pacific Ltd. (A Shares) 44,000 556,955 
Swire Properties Ltd. 108,800 441,730 
Techtronic Industries Co. Ltd. 144,500 1,044,405 
Television Broadcasts Ltd. 119,200 234,000 
Universal Medical Financial & Technical Advisory Services Co. Ltd. (d) 338,500 269,685 
Wharf Holdings Ltd. 128,000 367,938 
Wheelock and Co. Ltd. 84,000 598,027 
Winteam Pharmaceutical Group Ltd. 292,000 165,638 
Yuexiu Property Co. Ltd. 1,548,000 359,137 
TOTAL HONG KONG  63,952,595 
Hungary - 0.1%   
Magyar Telekom PLC 19,742 31,102 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 41,910 481,185 
OTP Bank PLC 22,751 1,008,302 
Richter Gedeon PLC 16,373 323,985 
TOTAL HUNGARY  1,844,574 
India - 2.3%   
Aarti Industries Ltd. 7,880 183,590 
Adani Ports & Special Economic Zone Ltd. (a) 48,185 271,757 
Adani Power Ltd. (a) 61,306 39,523 
Adani Transmissions Ltd. (a) 32,790 103,129 
Aditya Birla Fashion and Retail Ltd. (a) 10,575 32,759 
AIA Engineering Ltd. 1,908 49,714 
Ajanta Pharma Ltd. 276 3,925 
Alembic Pharmaceuticals Ltd. 7,019 56,159 
Ambuja Cements Ltd. 128,711 407,495 
Anveshan Heavy Engineering Ltd. (a) 493 3,294 
Apollo Hospitals Enterprise Ltd. (a) 8,727 152,431 
Apollo Tyres Ltd. (a) 8,706 25,757 
Arvind Fashions Ltd. (a) 2,663 38,247 
Arvind Mills Ltd. (a) 13,319 15,940 
Ashok Leyland Ltd. 121,377 151,532 
Asian Paints Ltd. 28,877 606,650 
Astral Poly Technik Ltd. 11,254 199,163 
Atul Ltd. 3,385 166,543 
AU Small Finance Bank Ltd. (a)(d) 25,156 232,843 
Aurobindo Pharma Ltd. 26,028 306,090 
Avenue Supermarts Ltd. (a)(d) 11,413 212,293 
Axis Bank Ltd. (a) 191,214 2,105,366 
Bajaj Auto Ltd. 7,260 311,062 
Bajaj Finance Ltd. 18,405 818,139 
Bajaj Finserv Ltd. 4,649 501,997 
Balkrishna Industries Ltd. 4,756 62,438 
Bayer CropScience Ltd. 495 29,224 
Bharat Forge Ltd. 22,543 152,856 
Bharat Petroleum Corp. Ltd. 82,278 448,739 
Bharti Airtel Ltd. 150,748 693,276 
Bharti Airtel Ltd. rights 5/17/19 (a) 42,749 61,564 
Bharti Infratel Ltd. 58,062 218,878 
Blue Dart Express Ltd. 43 2,031 
Bosch Ltd. (a) 677 175,152 
Britannia Industries Ltd. 5,832 242,505 
Cadila Healthcare Ltd. 75,289 351,814 
Canara Bank Ltd. (a) 4,410 16,492 
Care Ratings Ltd. (a) 132 1,864 
CEAT Ltd. (a) 225 3,405 
CESC Ltd. GDR 2,216 22,312 
Cg Power & Industrial Soluti 2,315 1,250 
Cipla Ltd. (a) 32,721 265,444 
City Union Bank Ltd. (a) 54,149 157,673 
Coal India Ltd. 131,586 476,394 
Container Corp. of India Ltd. 22,838 161,726 
CRISIL Ltd. 197 4,055 
Crompton Greaves Consumer Electricals Ltd. (a) 24,968 85,196 
Dabur India Ltd. 47,798 273,212 
Dewan Housing Finance Corp. Ltd. (a) 17,328 33,625 
Dish TV India Ltd. (a) 40,221 20,790 
Divi's Laboratories Ltd. 8,446 211,838 
Dr. Reddy's Laboratories Ltd. 11,796 495,832 
eClerx Services Ltd. (a) 3,082 50,699 
Edelweiss Financial Services Ltd. 47,278 100,975 
Eicher Motors Ltd. 1,238 362,054 
Endurance Technologies Ltd. (d) 10,166 171,779 
Engineers India Ltd. 1,276 2,044 
Escorts Ltd. (a) 1,831 19,425 
Exide Industries Ltd. 4,874 14,987 
Federal Bank Ltd. 209,596 279,122 
Finolex Cables Ltd. (a) 6,357 40,184 
Fortis Healthcare Ltd. (a) 23,747 47,240 
GAIL India Ltd. (a) 79,237 404,962 
Ge Power India Ltd. 330 4,291 
Gillette India Ltd. 57 6,170 
Glenmark Pharmaceuticals Ltd. 53,931 494,344 
GMR Infrastructure Ltd. (a) 75,851 18,133 
Godrej Consumer Products Ltd. 39,294 367,738 
Godrej Industries Ltd. 19,503 144,032 
Godrej Properties Ltd. (a) 9,029 107,588 
Graphite India Ltd. 4,363 23,977 
Grasim Industries Ltd. (a) 44,480 575,551 
Great Eastern Shipping Co. Ltd. 242 1,003 
Gruh Finance Ltd. 22,017 100,464 
Havells India Ltd. (a) 27,493 305,791 
HCL Technologies Ltd. 55,022 934,861 
Hero Motocorp Ltd. 7,107 256,317 
Hindalco Industries Ltd. 107,150 317,002 
Hindustan Petroleum Corp. Ltd. 54,008 225,851 
Hindustan Unilever Ltd. 72,452 1,828,491 
Housing Development Finance Corp. Ltd. 170,541 4,885,176 
ICICI Bank Ltd. 244,714 1,424,416 
IDFC Bank Ltd. 206,105 147,816 
Iifl Holdings Ltd. (a) 6,651 41,240 
India Cements Ltd. (a) 5,046 7,760 
Indiabulls Housing Finance Ltd. 31,150 311,044 
Indiabulls Real Estate Ltd. (a) 6,400 10,572 
Indiabulls Ventures Ltd. 10,489 44,699 
Indian Oil Corp. Ltd. 202,794 460,201 
Indraprastha Gas Ltd. (a) 24,344 109,334 
Info Edge India Ltd. 5,169 143,480 
Infosys Ltd. 361,696 3,890,602 
InterGlobe Aviation Ltd. (d) 14,092 306,942 
Ipca Laboratories Ltd. 338 4,623 
IRB Infrastructure Developers Ltd. 3,943 6,907 
ITC Ltd. 342,789 1,483,186 
Jain Irrigation Systems Ltd. (a) 18,440 14,430 
Jindal Steel & Power Ltd. (a) 48,419 123,816 
JSW Steel Ltd. 91,512 405,153 
Jubilant Foodworks Ltd. 4,834 92,207 
Jubilant Life Sciences Ltd. 3,486 33,077 
Kajaria Ceramics Ltd. (a) 1,102 9,415 
Larsen & Toubro Ltd. 50,816 983,932 
LIC Housing Finance Ltd. 47,433 338,311 
Lupin Ltd. (a) 30,270 379,011 
Mahindra & Mahindra Financial Services Ltd. 31,751 182,650 
Mahindra & Mahindra Ltd. 85,874 795,648 
Manappuram General Finance & Leasing Ltd. 13,651 23,119 
Marico Ltd. 58,808 303,467 
Maruti Suzuki India Ltd. 12,875 1,232,356 
Max Financial Services Ltd. (a) 21,545 129,198 
MindTree Consulting Ltd. 7,309 102,976 
Motherson Sumi Systems Ltd. 111,817 235,203 
Motilal Oswal Financial Services Ltd. 1,131 11,550 
Mphasis BFL Ltd. 6,342 88,273 
Multi Commodity Exchange of India Ltd. (a) 182 2,245 
Muthoot Finance Ltd. (a) 3,598 30,841 
Natco Pharma Ltd. 22,430 175,615 
Ncc Ltd. (a) 54,238 77,253 
Nestle India Ltd. 2,873 449,853 
NIIT Technologies Ltd. (a) 7,887 146,479 
NTPC Ltd. 297,966 573,497 
Oberoi Realty Ltd. 3,854 28,072 
Odisha Cement Ltd. (a) 6,388 105,326 
Oil & Natural Gas Corp. Ltd. 256,927 624,177 
Page Industries Ltd. 466 154,505 
PC Jeweller Ltd. (a) 6,790 11,602 
Persistent Systems Ltd. 3,130 28,594 
Petronet LNG Ltd. 103,252 357,506 
Pfizer Ltd. 1,331 60,063 
PI Industries Ltd. 3,093 46,370 
Pidilite Industries Ltd. 10,425 184,792 
Piramal Enterprises Ltd. 7,649 259,407 
PNB Housing Finance Ltd. (a)(d) 9,712 98,749 
Power Finance Corp. Ltd. (a) 51,449 85,395 
Power Grid Corp. of India Ltd. 215,251 576,088 
Prestige Estates Projs. Ltd. (a) 4,180 15,679 
PVR Ltd. (a) 9,689 246,159 
Rajesh Exports Ltd. (a) 5,672 54,939 
RBL Bank Ltd. (d) 32,205 313,902 
Rec Ltd. 47,953 101,590 
Redington India Ltd. 14,319 20,919 
Reliance Capital Ltd. (a) 4,711 8,993 
Reliance Communication Ltd. (a) 61,971 1,646 
Reliance Industries Ltd. 293,780 5,875,009 
Reliance Infrastructure Ltd. (a) 5,715 8,854 
Repco Home Finance Ltd. (a) 83 497 
RP-SG Business Process Services Ltd. (a) 443 3,130 
RP-SG Retail Ltd. (a) 1,329 2,773 
Sadbhav Engineering Ltd. (a) 12,879 43,835 
Sanofi India Ltd. 25 2,014 
Shree Cement Ltd. 1,208 343,241 
Shriram Transport Finance Co. Ltd. 13,179 210,220 
SKS Microfinance Ltd. (a) 16,677 241,330 
State Bank of India (a) 164,978 734,201 
Strides Shasun Ltd. (a) 1,270 8,745 
Sun Pharmaceutical Industries Ltd. 81,429 535,069 
Sundaram Finance Ltd. 2,407 49,905 
Supreme Industries Ltd. (a) 13,545 222,282 
Suzlon Energy Ltd. (a) 45,292 4,455 
Symphony Ltd. 118 2,318 
Tata Communications Ltd. (a) 3,714 29,924 
Tata Consultancy Services Ltd. 94,273 3,059,571 
Tata Global Beverages Ltd. 21,357 64,150 
Tata Motors Ltd. (a) 199,351 613,798 
Tata Power Co. Ltd. 125,220 121,899 
Tata Steel Ltd. 47,035 376,296 
Tech Mahindra Ltd. (a) 49,992 600,145 
The Indian Hotels Co. Ltd. (a) 43,561 96,539 
The Karur Vysya Bank Ltd. 3,746 4,163 
The Ramco Cements Ltd. (a) 1,219 13,554 
Thermax Ltd. 2,019 28,254 
Titan Co. Ltd. 34,280 570,234 
Tube Investments of India Ltd. 4,001 21,853 
Tube Investments of India Ltd. 4,001 29,651 
Ultratech Cemco Ltd. (a) 11,672 773,720 
United Spirits Ltd. (a) 49,672 400,175 
UPL Ltd. (a) 32,678 454,720 
Varun Beverages Ltd. 12,565 157,994 
Vedanta Ltd. 157,189 376,570 
Vodafone Idea Ltd. (a) 660,605 146,544 
Voltas Ltd. (a) 31,548 273,005 
WABCO India Ltd. 355 31,894 
Welspun India Ltd. (a) 12,290 9,397 
Whirlpool of India Ltd. 3,668 73,347 
Wipro Ltd. 142,530 611,686 
Yes Bank Ltd. 187,101 451,318 
Zee Entertainment Enterprises Ltd. 60,010 372,741 
TOTAL INDIA  60,523,124 
Indonesia - 0.5%   
Inti Agriculture Resources Tbk PT (a) 1,180,800 7,623 
Kresna Graha Investama PT Tbk (a) 910,500 37,059 
PT ACE Hardware Indonesia Tbk 504,300 58,393 
PT Adaro Energy Tbk 2,037,200 186,565 
PT AKR Corporindo Tbk 192,600 60,145 
PT Aneka Tambang Tbk 460,400 27,947 
PT Astra International Tbk 2,067,100 1,106,080 
PT Bank Central Asia Tbk 1,020,300 2,058,500 
PT Bank Jabar Banten Tbk 70,600 10,057 
PT Bank Mandiri (Persero) Tbk 2,053,900 1,118,973 
PT Bank Negara Indonesia (Persero) Tbk 806,600 543,394 
PT Bank Rakyat Indonesia Tbk 5,453,500 1,672,407 
PT Bank Tabungan Negara Tbk 237,600 42,184 
PT Bumi Resources Tbk (a) 3,868,300 33,390 
PT Bumi Serpong Damai Tbk (a) 696,900 70,179 
PT Charoen Pokphand Indonesia Tbk 718,700 266,045 
PT Ciputra Development Tbk 790,100 62,654 
PT Global Mediacom Tbk 14,600 412 
PT Gudang Garam Tbk 57,100 338,493 
PT Hanjaya Mandala Sampoerna Tbk 1,046,900 257,133 
PT Hanson International Tbk (a) 3,268,900 22,710 
PT Indah Kiat Pulp & Paper Tbk 359,200 186,532 
PT Indocement Tunggal Prakarsa Tbk 208,600 322,049 
PT Indofood CBP Sukses Makmur Tbk 201,000 137,174 
PT Indofood Sukses Makmur Tbk 378,600 184,651 
PT Japfa Comfeed Indonesia Tbk 445,500 48,771 
PT Jasa Marga Tbk 339,196 145,200 
PT Kalbe Farma Tbk 2,281,500 247,363 
PT Link Net Tbk 30,500 9,311 
PT Matahari Department Store Tbk 255,000 72,832 
PT Medco Energi International Tbk (a) 424,200 26,196 
PT Media Nusantara Citra Tbk 121,800 8,035 
PT Mitra Adiperkasa Tbk 2,151,200 150,207 
PT Pabrik Kertas Tjiwi Kimia Tbk 119,200 84,276 
PT Pakuwon Jati Tbk 1,383,800 69,433 
PT Panin Life Tbk (a) 3,417,100 96,878 
PT Pembangunan Perumahan Persero Tbk 253,258 42,654 
PT Perusahaan Gas Negara Tbk Series B 1,031,000 167,854 
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk 17,000 1,300 
PT PP Properti Tbk 481,000 4,928 
PT Semen Gresik (Persero) Tbk 361,400 342,379 
PT Sitara Propertindo Tbk (a) 49,100 2,601 
PT Sugih Energy Tbk (a) 40,500 142 
PT Summarecon Agung Tbk 748,400 58,822 
PT Surya Citra Media Tbk 295,600 38,584 
PT Tambang Batubara Bukit Asam Tbk 331,300 92,067 
PT Telekomunikasi Indonesia Tbk Series B 5,007,600 1,333,460 
PT Tower Bersama Infrastructure Tbk 218,400 60,539 
PT Unilever Indonesia Tbk 172,000 549,193 
PT United Tractors Tbk 221,000 421,451 
PT Waskita Karya Persero Tbk 530,900 78,983 
PT Wijaya Karya Persero Tbk 236,426 40,151 
PT. Pool Advista Indonesia Tbk (a) 184,900 28,027 
TOTAL INDONESIA  13,032,386 
Ireland - 0.4%   
AIB Group PLC 80,975 375,820 
Bank Ireland Group PLC 89,065 568,404 
C&C Group PLC 34,951 132,696 
Cairn Homes PLC (a) 54,034 77,937 
CRH PLC 78,555 2,642,645 
Dalata Hotel Group PLC 9,355 61,801 
DCC PLC (United Kingdom) 8,667 773,945 
Glanbia PLC 22,503 413,673 
Glenveagh Properties PLC (a)(d) 191,376 175,367 
Grafton Group PLC unit 32,648 375,494 
Green REIT PLC 79,320 150,707 
Greencore Group PLC 38,616 115,817 
Hibernia (REIT) PLC 265,066 425,136 
Irish Residential Properties REIT PLC 974 1,726 
James Hardie Industries PLC CDI 50,654 688,461 
Kerry Group PLC Class A 15,440 1,728,287 
Kingspan Group PLC (Ireland) 15,914 836,768 
Origin Enterprises PLC 17,170 106,111 
Paddy Power Betfair PLC (Ireland) 7,281 609,864 
Permanent Tsb Group Hld PLC (a) 637 979 
Ryanair Holdings PLC sponsored ADR (a) 4,245 329,582 
Smurfit Kappa Group PLC 20,023 586,822 
United Drug PLC (United Kingdom) 29,853 255,759 
TOTAL IRELAND  11,433,801 
Isle of Man - 0.1%   
Gaming VC Holdings SA 60,281 513,143 
Genting Singapore Ltd. 730,900 529,326 
NEPI Rockcastle PLC 39,754 331,344 
Playtech Ltd. 30,602 174,465 
Redefine International PLC 1,130 1,860 
TOTAL ISLE OF MAN  1,550,138 
Israel - 0.5%   
Airport City Ltd. (a) 7,556 125,375 
Alony Hetz Properties & Investments Ltd. 23,953 291,594 
Amot Investments Ltd. 8,182 48,210 
Azrieli Group 6,098 347,106 
Bank Hapoalim BM (Reg.) 105,576 776,132 
Bank Leumi le-Israel BM 164,236 1,123,375 
Bezeq The Israel Telecommunication Corp. Ltd. 378,651 258,892 
Caesarstone Sdot-Yam Ltd. (b) 4,697 71,066 
Cellcom Israel Ltd. (Israel) (a) 5,937 24,834 
Check Point Software Technologies Ltd. (a) 12,669 1,529,908 
Clal Insurance Enterprises Holdings Ltd. (a) 11,460 159,098 
CyberArk Software Ltd. (a) 4,628 596,688 
Delek Group Ltd. 333 63,334 
Elbit Systems Ltd. (Israel) 2,016 280,608 
Equital Ltd. (a) 686 20,439 
First International Bank of Israel 6,983 175,354 
Formula Systems (1985) Ltd. 126 6,006 
Gazit-Globe Ltd. 18,453 149,093 
Harel Insurance Investments and Financial Services Ltd. 9,721 72,814 
Israel Chemicals Ltd. 64,254 340,204 
Israel Corp. Ltd. (Class A) 429 103,293 
Israel Discount Bank Ltd. (Class A) 106,897 416,542 
Ituran Location & Control Ltd. 1,134 41,697 
Jerusalem Economy Ltd. (a) 34,641 115,151 
Kornit Digital Ltd. (a) 2,500 72,075 
Melisron Ltd. 1,481 74,751 
Migdal Insurance & Financial Holdings Ltd. 78,960 81,968 
Mizrahi Tefahot Bank Ltd. 13,027 281,652 
NICE Systems Ltd. (a) 6,280 866,436 
Nova Measuring Instruments Ltd. (a) 3,120 87,236 
Oil Refineries Ltd. (a) 140,105 68,768 
Partner Communications Co. Ltd. (a) 7,712 34,810 
Paz Oil Co. Ltd. 2,145 312,335 
Plus500 Ltd. 7,062 48,623 
Radware Ltd. (a) 9,684 252,656 
Reit 1 Ltd. 23,695 107,676 
Shikun & Binui Ltd. (a) 20,523 53,048 
Shufersal Ltd. 14,878 98,830 
Strauss Group Ltd. 3,837 97,825 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 101,645 1,547,037 
The Phoenix Holdings Ltd. 16,773 95,567 
Tower Semiconductor Ltd. (a) 8,441 153,690 
UroGen Pharma Ltd. (a) 4,490 161,416 
Wix.com Ltd. (a) 4,924 660,604 
TOTAL ISRAEL  12,293,816 
Italy - 1.4%   
A2A SpA 163,437 273,133 
ACEA SpA 12,581 228,314 
Amplifon SpA 5,221 100,311 
Ascopiave SpA 12,371 53,212 
Assicurazioni Generali SpA 117,120 2,272,559 
Astm SpA 2,401 61,130 
Atlantia SpA 47,802 1,303,910 
Autogrill SpA 25,289 245,775 
Azimut Holding SpA (b) 20,790 419,725 
Banca Generali SpA 5,954 168,019 
Banca IFIS SpA 642 11,067 
Banca Mediolanum S.p.A. 16,321 119,810 
Banca Monte dei Paschi di Siena SpA (a)(b) 12,845 19,478 
Banca Popolare dell'Emilia Romagna 65,446 314,464 
Banca Popolare di Sondrio SCARL 25,038 68,128 
Banco BPM SpA (a) 166,826 396,678 
Biesse SpA 462 10,281 
Brembo SpA 15,607 204,806 
Brunello Cucinelli SpA 5,050 183,290 
Buzzi Unicem SpA 5,507 122,483 
Cerved Information Solutions SpA 25,608 249,881 
Compagnie Industriali Riunite SpA (CIR) 1,763 2,167 
Credito Emiliano SpA 3,458 19,742 
Credito Valtellinese SC (a) 328,946 26,490 
Danieli & C. Officine Meccaniche SpA 1,400 28,516 
Datalogic SpA 613 14,507 
Davide Campari-Milano SpA 60,496 609,653 
De Longhi SpA 7,954 203,760 
DiaSorin S.p.A. 2,731 266,795 
Dobank SpA (d) 10,191 143,564 
Enav SpA (d) 12,759 69,606 
Enel SpA 789,286 4,997,888 
Eni SpA 241,564 4,116,527 
ERG SpA 2,649 48,875 
Fincantieri SpA 23,908 29,229 
FinecoBank SpA 43,411 571,375 
Hera SpA 98,568 350,898 
Immobiliare Grande Distribuzione SpA 903 6,836 
Industria Macchine Automatiche SpA (IMA) 2,444 191,883 
Infrastrutture Wireless Italiane SpA (d) 34,716 287,359 
Interpump Group SpA 10,962 411,636 
Intesa Sanpaolo SpA 1,553,889 4,071,215 
Iren SpA 69,810 163,175 
Italgas SpA 61,082 380,913 
Italmobiliare SpA 66 1,469 
Juventus Football Club SpA (a)(b) 43,244 61,356 
Leonardo SpA 37,570 433,816 
Maire Tecnimont SpA 6,337 22,616 
MARR SpA 1,204 29,236 
Mediaset SpA (a)(b) 22,568 75,026 
Mediobanca SpA 64,852 687,374 
Moncler SpA 18,675 765,991 
OVS (a)(d) 19,908 41,509 
Piaggio & C SpA 5,908 16,301 
Pirelli & C. SpA (d) 55,511 405,195 
Poste Italiane SpA (d) 57,192 610,034 
Prysmian SpA 25,345 488,659 
Rai Way SpA (d) 3,341 17,612 
Recordati SpA 10,506 424,089 
Reply SpA 1,799 117,030 
Saipem SpA (a) 81,797 414,405 
Salini Impregilo SpA 10,586 22,084 
Salvatore Ferragamo Italia SpA 3,856 87,276 
Saras Raffinerie Sarde SpA 32,211 57,516 
Snam Rete Gas SpA 220,871 1,123,946 
Societa Cattolica Di Assicurazioni SCRL 13,923 129,769 
Societa Iniziative Autostradali e Servizi SpA (SIAS) 4,758 78,234 
Tamburi Investment Partners SpA 47,514 337,869 
Technogym SpA (d) 5,245 64,299 
Telecom Italia SpA (a) 836,366 468,177 
Terna SpA 143,729 860,520 
Tod's SpA 706 34,699 
UniCredit SpA 212,360 2,936,796 
Unione di Banche Italiane SCpA 99,950 311,649 
Unipol Gruppo SpA 43,105 219,300 
Zignago Vetro SpA 165 2,102 
TOTAL ITALY  35,185,017 
Japan - 15.9%   
77 Bank Ltd. 2,400 34,192 
A/S One Corp. 1,900 151,632 
ABC-MART, Inc. 3,307 205,435 
ACOM Co. Ltd. 21,100 73,872 
Activia Properties, Inc. 60 250,460 
Adastria Co. Ltd. 3,300 80,874 
Adeka Corp. 8,300 124,059 
Advance Residence Investment Corp. 114 317,761 
Advantest Corp. 19,859 559,785 
Aeon (REIT) Investment Corp. 102 123,248 
AEON Co. Ltd. 61,925 1,142,106 
Aeon Delight Co. Ltd. 1,800 60,514 
AEON Financial Service Co. Ltd. 15,999 330,192 
AEON MALL Co. Ltd. 6,600 100,960 
Agc, Inc. 17,363 589,963 
Ai Holdings Corp. 1,200 19,498 
Aica Kogyo Co. Ltd. 5,100 175,807 
Aichi Steel Corp. 100 3,057 
Aida Engineering Ltd. 3,500 27,398 
Aiful Corp. (a) 10,100 23,574 
Ain Holdings, Inc. 3,800 301,558 
Air Water, Inc. 22,400 340,238 
Aisin Seiki Co. Ltd. 18,000 695,633 
Ajinomoto Co., Inc. 45,725 735,779 
Akita Bank Ltd. 100 1,969 
Alfresa Holdings Corp. 17,339 481,747 
All Nippon Airways Ltd. 10,741 374,891 
Alps Electric Co. Ltd. 23,198 488,763 
Amada Holdings Co. Ltd. 40,300 447,155 
Amano Corp. 6,300 163,445 
Anicom Holdings, Inc. 900 27,793 
Anritsu Corp. 23,400 404,582 
Aoki International Co. Ltd. 200 2,084 
Aoyama Trading Co. Ltd. 5,000 109,475 
Aozora Bank Ltd. 12,500 303,986 
ARCS Co. Ltd. 3,900 78,774 
Ariake Japan Co. Ltd. 2,100 121,783 
Aruhi Corp. 5,600 99,638 
Asahi Diamond Industrial Co. Ltd. 4,700 33,205 
Asahi Group Holdings 36,459 1,580,506 
Asahi Holdings, Inc. 1,700 32,964 
ASAHI INTECC Co. Ltd. 10,380 522,751 
Asahi Kasei Corp. 124,500 1,277,468 
Asics Corp. 19,200 235,271 
ASKUL Corp. 600 16,105 
Astellas Pharma, Inc. 199,803 2,706,107 
Atom Corp. 1,400 12,090 
Autobacs Seven Co. Ltd. 23,600 411,006 
Avex, Inc. 200 2,530 
Axial Retailing, Inc. 1,300 38,628 
Azbil Corp. 10,000 239,418 
Bandai Namco Holdings, Inc. 21,500 1,022,936 
Bank of Kyoto Ltd. 8,100 349,028 
Bank of Nagoya Ltd. 100 3,232 
Bank of The Ryukyus Ltd. 2,700 29,110 
Belc Co. Ltd. 800 35,729 
Belluna Co. Ltd. 1,500 11,257 
Benefit One, Inc. 3,400 70,536 
Benesse Holdings, Inc. 11,000 302,662 
Bic Camera, Inc. 5,400 57,784 
BML, Inc. 1,600 45,029 
Bridgestone Corp. 60,958 2,411,068 
Brother Industries Ltd. 27,100 531,077 
Bunka Shutter Co. Ltd. 300 2,203 
Calbee, Inc. 11,200 307,662 
Canon Marketing Japan, Inc. 9,800 211,316 
Canon, Inc. 92,843 2,576,215 
Capcom Co. Ltd. 13,500 303,582 
Casio Computer Co. Ltd. 36,800 462,829 
Cawachi Ltd. 200 3,526 
Central Glass Co. Ltd. 2,800 65,026 
Central Japan Railway Co. 14,055 3,014,895 
Chiba Bank Ltd. 90,400 471,497 
Chiyoda Co. Ltd. 100 1,580 
Chiyoda Corp. 17,700 55,931 
Chofu Seisakusho Co. Ltd. 100 2,107 
Chubu Electric Power Co., Inc. 60,716 880,803 
Chudenko Corp. 600 12,232 
Chugai Pharmaceutical Co. Ltd. 22,100 1,396,687 
Chugoku Electric Power Co., Inc. 29,600 352,612 
Chugoku Marine Paints Ltd. 5,400 50,900 
Citizen Watch Co. Ltd. 16,600 92,988 
CKD Corp. 2,665 30,646 
Coca-Cola West Co. Ltd. 12,550 308,356 
cocokara fine HOLDINGS, Inc. 1,300 51,582 
COLOPL, Inc. 500 3,030 
Colowide Co. Ltd. 4,100 82,151 
Comforia Residential REIT, Inc. 57 150,591 
COMSYS Holdings Corp. 17,200 450,401 
Concordia Financial Group Ltd. 112,400 435,897 
Cookpad, Inc. (a) 500 1,212 
Cosmo Energy Holdings Co. Ltd. 5,600 115,474 
Cosmos Pharmaceutical Corp. 1,700 270,730 
Create Restaurants Holdings, Inc. 200 2,391 
Create SD Holdings Co. Ltd. 1,800 41,431 
Credit Saison Co. Ltd. 13,201 167,805 
CyberAgent, Inc. 10,800 429,499 
CYBERDYNE, Inc. (a)(b) 7,900 49,501 
Dai Nippon Printing Co. Ltd. 29,100 687,825 
Dai-ichi Mutual Life Insurance Co. 107,799 1,543,511 
Daibiru Corp. 200 1,765 
Daicel Chemical Industries Ltd. 29,021 323,570 
Daido Metal Co. Ltd. 400 2,510 
Daido Steel Co. Ltd. 6,400 259,114 
Daifuku Co. Ltd. 10,000 608,645 
Daihen Corp. 1,600 44,670 
Daiho Corp. 200 5,350 
Daiichi Sankyo Kabushiki Kaisha 58,100 2,858,711 
Daiichikosho Co. Ltd. 6,400 312,545 
Daikin Industries Ltd. 25,468 3,242,572 
DaikyoNishikawa Corp. 1,600 16,044 
Dainippon Sumitomo Pharma Co. Ltd. 17,300 380,493 
Daio Paper Corp. 6,000 69,159 
Daiseki Co. Ltd. 1,600 43,736 
Daishi Hokuetsu Financial Group, Inc. 9,042 265,022 
Daito Trust Construction Co. Ltd. 7,244 966,669 
Daiwa House Industry Co. Ltd. 57,344 1,601,483 
Daiwa House REIT Investment Corp. 220 504,601 
Daiwa Office Investment Corp. 44 296,638 
Daiwa Securities Group, Inc. 169,200 787,598 
Daiwabo Holdings Co. Ltd. 3,500 178,150 
DCM Japan Holdings Co. Ltd. 37,100 366,687 
DeNA Co. Ltd. 18,600 289,699 
Denki Kagaku Kogyo KK 11,300 338,812 
DENSO Corp. 44,422 1,935,275 
Dentsu, Inc. 22,700 924,139 
Descente Ltd. 4,000 84,708 
Dexerials Corp. 1,700 10,713 
Dic Corp. 7,800 227,919 
Digital Arts, Inc. 1,000 85,911 
Digital Garage, Inc. 6,500 188,473 
Dip Corp. 800 12,137 
Disco Corp. 3,500 599,488 
Dmg Mori Co. Ltd. 13,500 192,693 
Doshisha Co. Ltd. 100 1,594 
Doutor Nichires Holdings Co., Ltd. 500 9,520 
Dowa Holdings Co. Ltd. 3,300 107,092 
DTS Corp. 1,500 52,852 
Duskin Co. Ltd. 12,000 294,950 
Dydo Group Holdings, Inc. 100 4,453 
Eagle Industry Co. Ltd. 300 3,423 
Earth Corp. 700 32,048 
East Japan Railway Co. 29,310 2,753,527 
Ebara Corp. 13,600 415,710 
EDION Corp. 1,300 10,993 
Ehime Bank Ltd. 2,400 22,795 
Eiken Chemical Co. Ltd. 2,800 50,272 
Eisai Co. Ltd. 25,500 1,477,418 
Eizo Corp. 600 22,945 
Electric Power Development Co. Ltd. 17,200 398,366 
en-japan, Inc. 2,200 71,098 
EPS Co. Ltd. 2,000 35,639 
euglena Co. Ltd. (a) 1,200 8,198 
Exedy Corp. 1,200 27,341 
Ezaki Glico Co. Ltd. 5,400 284,070 
FamilyMart Co. Ltd. 25,508 679,633 
Fancl Corp. 9,300 275,506 
Fanuc Corp. 19,785 3,717,118 
Fast Retailing Co. Ltd. 5,936 3,424,277 
FCC Co. Ltd. 3,000 61,699 
Ferrotec Holdings Corp. 2,700 29,861 
Financial Products Group Co. Ltd. 4,200 35,856 
Foster Electric Co. Ltd. 1,100 17,093 
FP Corp. 4,200 254,500 
Frontier Real Estate Investment Corp. 30 124,691 
Fuji Corp. 4,800 71,917 
Fuji Electric Co. Ltd. 15,800 556,713 
Fuji Kyuko Co. Ltd. 4,000 150,994 
Fuji Oil Holdings, Inc. 5,600 179,218 
Fuji Seal International, Inc. 5,000 174,155 
Fuji Soft ABC, Inc. 3,200 126,110 
Fujicco Co. Ltd. 100 1,970 
Fujifilm Holdings Corp. 37,100 1,726,526 
Fujikura Ltd. 15,800 64,962 
Fujimi, Inc. 200 4,616 
Fujimori Kogyo Co. Ltd. 400 11,706 
Fujitec Co. Ltd. 4,200 51,164 
Fujitsu General Ltd. 5,500 80,035 
Fujitsu Ltd. 18,842 1,376,001 
Fukuoka (REIT) Investment Fund 104 161,702 
Fukuoka Financial Group, Inc. 18,412 425,776 
Fukushima Industries Corp. 100 3,456 
Fukuyama Transporting Co. Ltd. 5,600 214,660 
Funai Soken Holdings, Inc. 6,900 177,959 
Furukawa Co. Ltd. 600 7,433 
Furukawa Electric Co. Ltd. 5,300 139,310 
Fuso Chemical Co. Ltd. 300 5,332 
Futaba Corp. 3,900 63,159 
Futaba Industrial Co. Ltd. 700 4,386 
Fuyo General Lease Co. Ltd. 4,300 213,466 
G-Tekt Corp. 1,300 18,427 
Global One Real Estate Investment Corp. 32 36,914 
Glory Ltd. 6,200 155,842 
GLP J-REIT 392 421,577 
GMO Internet, Inc. 4,100 63,269 
GMO Payment Gateway, Inc. 3,400 267,678 
GNI Group Ltd. (a) 700 18,915 
Goldcrest Co. Ltd. 300 3,935 
GOLDWIN, Inc. 1,000 159,074 
GREE, Inc. 3,400 13,186 
GS Yuasa Corp. 16,400 327,868 
Gulliver International Co. Ltd. 400 970 
GungHo Online Entertainment, Inc. 28,000 87,221 
Gunma Bank Ltd. 43,300 170,642 
Gunze Ltd. 700 29,723 
Gurunavi, Inc. 100 556 
H.I.S. Co. Ltd. 2,300 73,091 
H2O Retailing Corp. 8,600 109,087 
Hakuhodo DY Holdings, Inc. 21,700 364,865 
Hamakyorex Co. Ltd. 4,300 158,459 
Hamamatsu Photonics K.K. 14,600 590,448 
Hankyu Hanshin Holdings, Inc. 24,300 905,292 
Hankyu REIT, Inc. 9 11,982 
Hanwa Co. Ltd. 1,700 48,759 
Harmonic Drive Systems, Inc. 4,000 157,278 
Haseko Corp. 33,000 397,262 
Hazama Ando Corp. 12,500 83,823 
Heiwa Corp. 9,700 192,615 
Heiwa Real Estate (REIT), Inc. 141 159,233 
Heiwa Real Estate Co. Ltd. 1,700 32,628 
Heiwado Co. Ltd. 1,800 33,125 
Hiday Hidaka Corp. 2,376 43,107 
Hikari Tsushin, Inc. 2,500 460,972 
Hino Motors Ltd. 17,800 167,462 
Hirata Corp. 400 27,290 
Hirose Electric Co. Ltd. 4,955 572,030 
Hiroshima Bank Ltd. 14,400 77,303 
Hisamitsu Pharmaceutical Co., Inc. 6,600 279,061 
Hitachi Capital Corp. 1,900 43,920 
Hitachi Chemical Co. Ltd. 12,400 328,381 
Hitachi Construction Machinery Co. Ltd. 15,400 407,828 
Hitachi High-Technologies Corp. 8,000 355,492 
Hitachi Ltd. 98,476 3,261,169 
Hitachi Metals Ltd. 28,100 323,139 
Hitachi Transport System Ltd. 7,500 207,370 
Hitachi Zosen Corp. 2,900 8,956 
Hogy Medical Co. Ltd. 3,300 107,832 
Hokkaido Electric Power Co., Inc. 16,000 89,483 
Hokuetsu Kishu Paper Co. Ltd. 9,200 50,049 
Hokuhoku Financial Group, Inc. 26,400 289,370 
Hokuriku Electric Power Co., Inc. (a) 20,600 152,750 
Hokuto Corp. 100 1,718 
Honda Motor Co. Ltd. 163,572 4,564,141 
Horiba Ltd. 6,300 378,922 
Hoshino Resorts REIT, Inc. 13 63,019 
Hoshizaki Corp.  5,900 381,346 
Hosiden Corp. 1,800 17,031 
House Foods Group, Inc. 7,700 308,982 
Hoya Corp. 39,118 2,744,353 
Hulic (REIT), Inc. 128 209,704 
Hulic Co. Ltd. 37,300 320,781 
Hyakujushi Bank Ltd. 700 14,541 
Ibiden Co. Ltd. 8,700 155,342 
IBJ Leasing Co. Ltd. 1,600 37,445 
Ichibanya Co. Ltd. 100 4,089 
Ichigo Real Estate Investment Corp. 115 105,920 
Ichigo, Inc. 58,000 186,400 
Idec Corp. 3,200 64,778 
Idemitsu Kosan Co. Ltd. 23,400 757,278 
IHI Corp. 15,372 363,894 
Iida Group Holdings Co. Ltd. 11,300 190,607 
Inaba Denki Sangyo Co. Ltd. 4,400 178,733 
Inabata & Co. Ltd. 1,000 13,681 
Industrial & Infrastructure Fund Investment Corp. 97 110,240 
Ines Corp. 3,700 46,169 
Infomart Corp. 10,000 145,159 
INPEX Corp. 105,800 1,026,705 
Internet Initiative Japan, Inc. 1,600 32,217 
Invesco Office J-REIT, Inc. 426 64,859 
Invincible Investment Corp. 742 375,013 
Iriso Electronics Co. Ltd. 3,900 201,661 
Iseki & Co. Ltd. 100 1,558 
Isetan Mitsukoshi Holdings Ltd. 32,671 310,594 
Istyle, Inc. 1,300 9,243 
Isuzu Motors Ltd. 62,568 896,156 
IT Holdings Corp. 9,300 422,443 
ITO EN Ltd. 4,260 211,480 
Itochu Corp. 133,650 2,399,569 
Itochu Enex Co. Ltd. 300 2,445 
ITOCHU Techno-Solutions Corp. 12,112 295,855 
Itoham Yonekyu Holdings, Inc. 10,100 62,833 
Iwatani Corp. 8,800 274,914 
Iyo Bank Ltd. 62,400 345,064 
Izumi Co. Ltd. 5,700 248,171 
J Trust Co. Ltd. 7,200 23,656 
J. Front Retailing Co. Ltd. 23,200 282,203 
JACCS Co. Ltd. 200 3,460 
JAFCO Co. Ltd. 5,200 195,359 
Japan Airlines Co. Ltd. 10,900 364,883 
Japan Airport Terminal Co. Ltd. 7,000 294,403 
Japan Aviation Electronics Industry Ltd. 1,000 16,105 
Japan Display, Inc. (a)(b) 24,400 17,085 
Japan Excellent, Inc. 89 127,354 
Japan Exchange Group, Inc. 53,300 865,087 
Japan Hotel REIT Investment Corp. 566 460,848 
Japan Lifeline Co. Ltd. 10,200 160,424 
Japan Logistics Fund, Inc. 99 211,606 
Japan Material Co. Ltd. 9,400 139,150 
Japan Petroleum Exploration Co. Ltd. 1,300 28,207 
Japan Post Bank Co. Ltd. 23,934 262,770 
Japan Post Holdings Co. Ltd. 150,438 1,678,661 
Japan Prime Realty Investment Corp. 88 351,542 
Japan Real Estate Investment Corp. 129 714,511 
Japan Rental Housing Investment, Inc. 235 181,215 
Japan Retail Fund Investment Corp. 273 522,007 
Japan Securities Finance Co. Ltd. 500 2,585 
Japan Steel Works Ltd. 7,600 145,730 
Japan Tobacco, Inc. 105,543 2,438,848 
Japan Wool Textile Co. Ltd. 400 3,221 
JCR Pharmaceuticals Co. Ltd. 1,000 56,107 
JEOL Ltd. 2,500 50,384 
JFE Holdings, Inc. 50,100 856,775 
JGC Corp. 22,142 315,647 
Jimoto Holdings, Inc. 13,900 12,728 
JIN Co. Ltd. 1,100 58,755 
Joshin Denki Co. Ltd. 1,800 38,522 
Joyful Honda Co. Ltd. 1,400 16,213 
JSR Corp. 27,200 412,169 
JTEKT Corp. 27,000 346,362 
Juroku Bank Ltd. 1,300 26,445 
Justsystems Corp. 4,400 126,002 
JVC KENWOOD Holdings, Inc. 700 1,847 
JX Holdings, Inc. 322,750 1,566,596 
K's Holdings Corp. 16,600 147,976 
kabu.com Securities Co. Ltd. 19,400 97,004 
Kadokawa Dwango Corp. 2,000 25,136 
Kagome Co. Ltd. 6,800 184,658 
Kajima Corp. 53,400 788,572 
Kakaku.com, Inc. 17,200 352,045 
Kaken Pharmaceutical Co. Ltd. 8,956 381,491 
Kameda Seika Co. Ltd. 1,400 65,604 
Kamigumi Co. Ltd. 16,300 388,057 
Kanamoto Co. Ltd. 1,400 33,079 
Kandenko Co. Ltd. 7,800 65,470 
Kaneka Corp. 8,800 338,112 
Kanematsu Corp. 3,200 35,362 
Kansai Electric Power Co., Inc. 69,999 845,493 
Kansai Mirai Financial Group, Inc. (a) 6,700 46,674 
Kansai Paint Co. Ltd. 21,239 403,254 
Kanto Denka Kogyo Co. Ltd. 1,000 7,433 
Kao Corp. 49,291 3,786,374 
Katitas Co. Ltd. 3,000 98,703 
Kato Sangyo 1,100 35,747 
Kawasaki Heavy Industries Ltd. 20,200 468,937 
Kawasaki Kisen Kaisha Ltd. (a) 6,100 88,164 
KDDI Corp. 179,937 4,147,107 
Keihan Electric Railway Co., Ltd. 10,500 445,375 
Keihin Corp. 1,600 26,256 
Keihin Electric Express Railway Co. Ltd. 25,739 438,091 
Keio Corp. 10,703 643,746 
Keisei Electric Railway Co. 16,906 590,371 
Kenedix Office Investment Corp. 40 267,517 
Kenedix Residential Investment Corp. 49 79,134 
Kenedix Retail REIT Corp. 68 164,575 
Kenedix, Inc. 26,000 123,237 
Kewpie Corp. 16,400 377,776 
Key Coffee, Inc. 14,400 270,691 
Keyence Corp. 9,875 6,127,385 
KH Neochem Co. Ltd. 5,700 165,021 
Kikkoman Corp. 15,900 736,514 
Kinden Corp. 18,992 303,988 
Kintetsu Group Holdings Co. Ltd. 16,753 742,188 
Kintetsu World Express, Inc. 2,600 39,165 
Kirin Holdings Co. Ltd. 82,270 1,860,759 
Kisoji Co. Ltd. 300 6,989 
Kissei Pharmaceutical Co. Ltd. 1,400 34,562 
Kitz Corp. 1,400 10,658 
Koa Corp. 1,100 15,089 
Kobayashi Pharmaceutical Co. Ltd. 5,800 461,313 
Kobe Bussan Co. Ltd. 4,500 178,352 
Kobe Steel Ltd. 40,200 306,385 
Kohnan Shoji Co. Ltd. 1,400 30,904 
Koito Manufacturing Co. Ltd. 10,200 606,167 
Kokuyo Co. Ltd. 4,600 58,308 
Komatsu Ltd. 95,311 2,461,922 
KOMEDA Holdings Co. Ltd. 1,900 34,795 
KOMERI Co. Ltd. 4,000 84,133 
Komori Corp. 3,300 38,038 
Konami Holdings Corp. 8,900 404,273 
Konica Minolta, Inc. 50,300 503,023 
Konoike Transport Co. Ltd. 500 8,066 
Kose Corp. 3,200 598,950 
Koshidaka Holdings Co. Ltd. 2,800 38,960 
Kotobuki Spirits Co. Ltd. 2,900 129,777 
Kubota Corp. 96,510 1,458,112 
Kumagai Gumi Co. Ltd. 5,200 151,946 
Kumiai Chemical Industry Co. Ltd. 3,500 25,576 
Kura Corp. Ltd. 700 30,194 
Kurabo Industries Ltd. 300 5,631 
Kuraray Co. Ltd. 39,252 523,971 
Kureha Chemical Industry Co. Ltd. 1,500 89,412 
Kurita Water Industries Ltd. 17,000 440,433 
Kusuri No Aoki Holdings Co. Ltd. 1,100 77,221 
Kyb Corp. 1,400 37,829 
Kyocera Corp. 31,437 2,029,104 
Kyoei Steel Ltd. 100 1,654 
Kyokuto Kaihatsu Kogyo Co. Ltd. 500 7,011 
Kyorin Holdings, Inc. 9,200 172,281 
Kyoritsu Maintenance Co. Ltd. 3,100 158,625 
Kyowa Exeo Corp. 14,200 386,247 
Kyowa Hakko Kirin Co., Ltd. 24,300 470,316 
Kyudenko Corp. 3,200 90,776 
Kyushu Electric Power Co., Inc. 43,678 422,292 
Kyushu Financial Group, Inc. 77,585 311,329 
Kyushu Railway Co. 19,100 620,692 
LaSalle Logiport REIT 63 67,471 
Lasertec Corp. 4,600 207,711 
Lawson, Inc. 5,100 237,614 
Leopalace21 Corp. (b) 28,500 48,099 
LIFE Corp. 100 1,939 
LIFULL Co. Ltd. 2,300 12,388 
LINE Corp. (a) 8,800 294,839 
Lintec Corp. 4,500 96,912 
Lion Corp. 24,936 512,174 
LIXIL Group Corp. 24,395 316,886 
M3, Inc. 47,090 832,355 
Mabuchi Motor Co. Ltd. 10,200 376,336 
Macnica Fuji Electronics Holdings, Inc. 3,700 53,244 
Macromill, Inc. 2,100 23,961 
Maeda Corp. 15,000 148,391 
Maeda Road Construction Co. Ltd. 5,700 112,572 
Makino Milling Machine Co. Ltd. 2,000 84,205 
Makita Corp. 23,100 839,849 
Mandom Corp. 8,800 226,646 
Mani, Inc. 3,200 184,138 
Marubeni Corp. 168,700 1,204,124 
Marudai Food Co. Ltd. 200 3,488 
Maruha Nichiro Corp. 8,000 252,794 
Marui Group Co. Ltd. 23,302 472,127 
Maruichi Steel Tube Ltd. 3,500 96,459 
Marusan Securities Co. Ltd. 900 5,090 
Maruwa Ceramic Co. Ltd. 500 26,976 
Matsui Securities Co. Ltd. 13,900 123,533 
Matsumotokiyoshi Holdings Co. Ltd. 9,600 314,987 
Max Co. Ltd. 1,000 15,252 
Maxell Holdings Ltd. 1,500 22,770 
Mazda Motor Corp. 65,200 769,968 
McDonald's Holdings Co. (Japan) Ltd. 6,428 297,179 
MCJ Co. Ltd. 5,900 42,160 
MCUBS MidCity Investment Corp. 161 147,421 
Mebuki Financial Group, Inc. 136,168 345,936 
Medipal Holdings Corp. 20,700 463,634 
Megachips Corp. 600 8,015 
Megmilk Snow Brand Co. Ltd. 9,800 215,803 
Meidensha Corp. 3,400 48,286 
Meiji Holdings Co. Ltd. 12,000 942,592 
Meitec Corp. 2,700 125,068 
Menicon Co. Ltd. 1,800 51,708 
Micronics Japan Co. Ltd. 100 770 
Milbon Co. Ltd. 2,300 117,276 
Minebea Mitsumi, Inc. 38,995 689,619 
Miraca Holdings, Inc. 9,747 248,761 
Mirai Corp. 344 151,163 
Mirait Holdings Corp. 16,200 237,194 
Miroku Jyoho Service Co., Ltd. 200 5,365 
Misumi Group, Inc. 31,005 801,045 
Mitsuba Corp. 500 3,214 
Mitsubishi Chemical Holdings Corp. 130,257 922,715 
Mitsubishi Corp. 133,551 3,663,826 
Mitsubishi Electric Corp. 183,092 2,600,220 
Mitsubishi Estate Co. Ltd. 119,071 2,004,737 
Mitsubishi Estate Logistics REIT Investment Corp. 55 126,693 
Mitsubishi Gas Chemical Co., Inc. 22,045 328,513 
Mitsubishi Heavy Industries Ltd. 28,366 1,176,707 
Mitsubishi Logistics Corp. 8,500 226,473 
Mitsubishi Materials Corp. 10,000 258,899 
Mitsubishi Motors Corp. of Japan 74,234 415,169 
Mitsubishi Pencil Co. Ltd. 2,600 53,286 
Mitsubishi Shokuhin Co. Ltd. 100 2,585 
Mitsubishi Tanabe Pharma Corp. 27,609 346,491 
Mitsubishi UFJ Financial Group, Inc. 1,159,539 5,753,083 
Mitsubishi UFJ Lease & Finance Co. Ltd. 31,400 158,980 
Mitsuboshi Belting Ltd. 500 9,453 
Mitsui & Associates Telepark Corp. 300 4,864 
Mitsui & Co. Ltd. 166,182 2,676,337 
Mitsui Chemicals, Inc. 23,300 568,512 
Mitsui Engineering & Shipbuilding Co. (a) 7,000 68,684 
Mitsui Fudosan Co. Ltd. 90,440 2,084,110 
Mitsui Fudosan Logistics Park, Inc. 17 53,948 
Mitsui High-Tec, Inc. 500 5,772 
Mitsui Mining & Smelting Co. Ltd. 5,300 136,836 
Mitsui OSK Lines Ltd. 10,800 273,405 
Mitsui Sugar Co. Ltd. 700 16,854 
Mitsui-Soko Co. Ltd. (a) 400 6,327 
Miura Co. Ltd. 13,555 343,514 
mixi, Inc. 11,200 241,102 
Mizuho Financial Group, Inc. 2,305,084 3,599,914 
Mizuno Corp. 200 4,593 
Mochida Pharmaceutical Co. Ltd. 1,800 83,379 
Modec, Inc. 2,600 79,474 
Monex Group, Inc. 14,500 43,997 
Money Forward, Inc. (a) 2,100 85,682 
MonotaRO Co. Ltd. 15,300 351,888 
Mori Hills REIT Investment Corp. 179 238,302 
Mori Trust Hotel (REIT), Inc. 15 18,448 
MORI TRUST Sogo (REIT), Inc. 64 96,464 
Morinaga & Co. Ltd. 7,100 294,784 
Morinaga Milk Industry Co. Ltd. 2,700 88,833 
Morita Holdings Corp. 100 1,687 
MOS Food Services, Inc. 400 9,361 
MS&AD Insurance Group Holdings, Inc. 46,497 1,435,044 
Murata Manufacturing Co. Ltd. 55,702 2,797,001 
Musashi Seimitsu Industry Co. Ltd. 1,800 28,003 
Nabtesco Corp. 14,000 426,051 
Nachi-Fujikoshi Corp. 500 24,597 
Nagaileben Co. Ltd. 1,400 31,407 
Nagase & Co. Ltd. 6,300 95,635 
Nagoya Railroad Co. Ltd. 23,016 621,914 
Nakanishi, Inc. 9,300 178,077 
Namura Shipbuilding Co. Ltd. 500 1,679 
Nankai Electric Railway Co. Ltd. 8,500 231,204 
NEC Corp. 26,100 877,459 
NEC System Integration & Constuction Ltd. 100 2,403 
Net One Systems Co. Ltd. 8,800 226,567 
New Hampshire Foods Ltd. 11,613 466,000 
Nexon Co. Ltd. (a) 47,800 684,849 
NGK Insulators Ltd. 34,100 503,258 
NGK Spark Plug Co. Ltd. 14,300 276,898 
NHK Spring Co. Ltd. 29,387 263,809 
Nichi-iko Pharmaceutical Co. Ltd. 500 5,974 
Nichias Corp. 15,400 296,125 
Nichicon Corp. 1,700 16,497 
Nichiha Corp. 4,100 112,442 
Nichirei Corp. 12,310 283,121 
Nidec Corp. 22,845 3,237,204 
Nifco, Inc. 8,300 233,215 
Nihon Kohden Corp. 7,500 217,806 
Nihon M&A Center, Inc. 15,600 441,133 
Nihon Parkerizing Co. Ltd. 5,100 66,248 
Nihon Unisys Ltd. 8,000 204,174 
Nikkiso Co. Ltd. 2,200 27,116 
Nikkon Holdings Co. Ltd. 3,200 75,178 
Nikon Corp. 30,000 417,433 
Nintendo Co. Ltd. 11,688 4,025,532 
Nippo Corp. 3,400 68,858 
Nippon Accommodations Fund, Inc. 41 209,426 
Nippon Building Fund, Inc. 133 856,062 
Nippon Carbon Co. Ltd. (b) 2,200 96,378 
Nippon Chemi-con Corp. 500 10,176 
Nippon Densetsu Kogyo Co. Ltd. 4,700 101,008 
Nippon Electric Glass Co. Ltd. 10,500 287,490 
Nippon Express Co. Ltd. 7,366 403,363 
Nippon Flour Mills Co. Ltd. 19,100 321,491 
Nippon Gas Co. Ltd. 4,200 110,170 
Nippon Kayaku Co. Ltd. 21,700 254,022 
Nippon Light Metal Holding Co. Ltd. 30,000 65,981 
Nippon Paint Holdings Co. Ltd. 15,097 571,245 
Nippon Paper Industries Co. Ltd. 11,945 236,337 
Nippon Prologis REIT, Inc. 156 334,701 
Nippon REIT Investment Corp. 38 141,739 
Nippon Seiki Co. Ltd. 2,800 46,350 
Nippon Sheet Glass Co. Ltd. 9,500 78,033 
Nippon Shinyaku Co. Ltd. 5,300 364,451 
Nippon Shokubai Co. Ltd. 2,300 158,984 
Nippon Signal Co. Ltd. 200 1,851 
Nippon Soda Co. Ltd. 2,400 66,035 
Nippon Steel & Sumikin Bussan Corp. 1,200 50,038 
Nippon Steel & Sumitomo Metal Corp. 75,783 1,347,352 
Nippon Suisan Kaisha Co. Ltd. 24,800 172,984 
Nippon Telegraph & Telephone Corp. 64,632 2,689,236 
Nippon Yusen KK 21,800 371,047 
Nipro Corp. 10,138 125,320 
Nishi-Nippon Financial Holdings, Inc. 8,300 68,251 
Nishi-Nippon Railroad Co. Ltd. 3,400 79,754 
Nishimatsu Construction Co. Ltd. 6,100 131,698 
Nishimatsuya Chain Co. Ltd. 1,000 7,954 
Nishio Rent All Co. Ltd. 1,200 33,179 
Nissan Chemical Corp. 14,800 655,002 
Nissan Motor Co. Ltd. 217,848 1,748,893 
Nissan Shatai Co. Ltd. 2,300 21,060 
Nissha Co. Ltd. 1,900 21,986 
Nisshin Oillio Group Ltd. 800 22,802 
Nisshin Seifun Group, Inc. 18,000 417,541 
Nisshinbo Holdings, Inc. 13,200 116,720 
Nissin Electric Co. Ltd. 400 3,781 
Nissin Food Holdings Co. Ltd. 7,600 500,094 
Nissin Kogyo Co. Ltd. 2,000 26,554 
Nitori Holdings Co. Ltd. 7,700 915,885 
Nitta Corp. 4,800 157,709 
Nitto Boseki Co. Ltd. 1,200 24,906 
Nitto Denko Corp. 16,942 911,016 
Nitto Kogyo Corp. 500 9,749 
NKSJ Holdings, Inc. 32,019 1,196,024 
Noevir Holdings Co. Ltd. 600 31,509 
NOF Corp. 8,600 305,337 
Nojima Co. Ltd. 1,100 18,851 
NOK Corp. 18,400 294,182 
NOMURA Co. Ltd. 2,400 66,789 
Nomura Holdings, Inc. 353,554 1,338,633 
Nomura Real Estate Holdings, Inc. 10,100 213,524 
Nomura Real Estate Master Fund, Inc. 409 598,841 
Nomura Research Institute Ltd. 11,770 573,734 
Noritz Corp. 1,500 23,188 
North Pacific Bank Ltd. 23,400 57,137 
NS Solutions Corp. 3,200 85,778 
NSD Co. Ltd. 1,200 29,700 
NSK Ltd. 46,400 479,016 
NTN Corp. 45,500 149,087 
NTT Data Corp. 67,000 778,293 
NTT DOCOMO, Inc. 132,930 2,886,653 
Obara Group, Inc. 800 30,342 
Obayashi Corp. 74,500 728,314 
OBIC Business Consultants Ltd. 2,500 99,982 
OBIC Co. Ltd. 6,641 766,671 
Odakyu Electric Railway Co. Ltd. 30,500 715,714 
Ogaki Kyoritsu Bank Ltd. 25,100 565,113 
Ohsho Food Service Corp. 1,600 103,847 
Oiles Corp. 100 1,665 
Oji Holdings Corp. 91,100 544,662 
Okamoto Industries, Inc. 200 10,324 
Okamura Corp. 3,200 32,174 
Okasan Securities Group, Inc. 13,034 47,505 
Oki Electric Industry Co. Ltd. 9,900 115,624 
Okuma Corp. 4,900 286,359 
Okumura Corp. 8,300 267,490 
Olympus Corp. 121,600 1,357,964 
OMRON Corp. 20,600 1,100,319 
Ono Pharmaceutical Co. Ltd. 50,380 940,484 
Onward Holdings Co. Ltd. 6,000 32,910 
Open House Co. Ltd. 3,400 124,072 
Optex Group Co. Ltd. 2,400 40,031 
Oracle Corp. Japan 4,400 300,588 
Orient Corp. 7,300 7,667 
Oriental Land Co. Ltd. 20,134 2,217,731 
ORIX Corp. 136,820 1,930,182 
ORIX JREIT, Inc. 229 401,899 
Osaka Gas Co. Ltd. 43,100 795,103 
OSG Corp. 7,800 156,077 
Otsuka Corp. 10,600 415,836 
Otsuka Holdings Co. Ltd. 40,818 1,454,344 
Outsourcing, Inc. 9,600 125,219 
Pacific Industrial Co. Ltd. 7,600 123,898 
Pacific Metals Co. Ltd. 1,400 30,553 
PALTAC Corp. 2,000 109,700 
Pan Pacific International Hold 11,823 760,994 
Panasonic Corp. 223,589 2,058,852 
Paramount Bed Holdings Co. Ltd. 1,000 46,860 
Park24 Co. Ltd. 11,340 237,499 
Penta-Ocean Construction Co. Ltd. 25,800 117,889 
Pepper Food Service Co. Ltd. 700 14,095 
PeptiDream, Inc. (a) 9,900 532,349 
Persol Holdings Co., Ltd. 27,000 505,121 
Pigeon Corp. 13,200 558,714 
Pilot Corp. 1,600 66,071 
Piolax, Inc. 2,600 48,665 
Plenus Co. Ltd. 100 1,648 
Pola Orbis Holdings, Inc. 10,989 345,271 
Premier Investment Corp. 98 121,318 
Press Kogyo Co. Ltd. 8,100 43,556 
Pressance Corp. 200 2,442 
Prestige International, Inc. 8,000 114,116 
Prima Meat Packers Ltd. 1,000 18,259 
Raito Kogyo Co. Ltd. 4,000 51,385 
Raksul, Inc. 2,200 87,490 
Rakuten, Inc. 92,395 1,024,353 
Recruit Holdings Co. Ltd. 112,554 3,363,636 
Relia, Inc. 200 2,106 
Relo Group, Inc. 15,100 410,728 
Renesas Electronics Corp. (a) 83,355 443,732 
Rengo Co. Ltd. 23,400 205,232 
Resona Holdings, Inc. 222,200 936,912 
Resorttrust, Inc. 18,300 254,634 
Ricoh Co. Ltd. 67,600 681,492 
Ricoh Leasing Co. Ltd. 300 8,726 
Ringer Hut Co. Ltd. 100 2,112 
Rinnai Corp. 3,961 265,975 
Riso Kagaku Corp. 100 1,654 
Riso Kyoiku Co. Ltd. 19,500 74,397 
ROHM Co. Ltd. 10,700 782,845 
Rohto Pharmaceutical Co. Ltd. 12,100 338,359 
Round One Corp. 13,300 178,376 
Royal Holdings Co. Ltd. 11,400 278,258 
Ryobi Ltd. 1,500 34,054 
Ryohin Keikaku Co. Ltd. 2,783 528,144 
S Foods, Inc. 2,000 68,764 
Saizeriya Co. Ltd. 1,600 35,894 
Sakai Moving Service Co. Ltd. 400 23,484 
Sakata INX Corp. 1,600 14,493 
Sakata Seed Corp. 3,900 123,762 
San-A Co. Ltd. 1,000 39,140 
San-Ai Oil Co. Ltd. 2,200 18,525 
SanBio Co. Ltd. (a) 2,200 88,675 
Sanden Holdings Corp. (a) 200 1,433 
Sangetsu Corp. 18,800 351,714 
Sanken Electric Co. Ltd. 1,800 38,539 
Sanki Engineering Co. Ltd. 2,100 22,886 
Sankyo Co. Ltd. (Gunma) 3,100 122,030 
Sankyo Tateyama, Inc. 400 4,435 
Sankyu, Inc. 6,500 310,427 
Sanrio Co. Ltd. 6,500 147,920 
Santen Pharmaceutical Co. Ltd. 39,360 598,553 
Sanwa Holdings Corp. 27,400 328,126 
Sanyo Chemical Industries Ltd. 1,600 80,578 
Sanyo Special Steel Co. Ltd. 1,200 23,958 
Sapporo Breweries Ltd. 3,800 77,504 
Sato Holding Corp. 1,700 41,159 
Sawai Pharmaceutical Co. Ltd. 2,700 144,459 
SBI Holdings, Inc. Japan 27,000 575,169 
Screen Holdings Co. Ltd. 3,200 153,400 
SCSK Corp. 6,900 326,433 
Secom Co. Ltd. 21,533 1,805,064 
Sega Sammy Holdings, Inc. 17,319 218,285 
Seibu Holdings, Inc. 18,400 298,477 
Seikagaku Corp. 2,200 24,134 
Seiko Epson Corp. 33,073 528,182 
Seiko Holdings Corp. 3,200 72,305 
Seino Holdings Co. Ltd. 20,500 277,701 
Seiren Co. Ltd. 4,100 61,172 
Sekisui Chemical Co. Ltd. 45,700 730,658 
Sekisui House (REIT), Inc. 265 191,027 
Sekisui House Ltd. 60,580 974,544 
Sekisui Jushi Corp. 3,100 59,776 
SENKO Co. Ltd. 15,800 126,519 
Senshu Ikeda Holdings, Inc. 17,690 43,830 
Seria Co. Ltd. 5,600 165,896 
Seven & i Holdings Co. Ltd. 78,429 2,714,217 
Seven Bank Ltd. 68,900 186,793 
SG Holdings Co. Ltd. 12,100 323,152 
Sharp Corp. 22,200 246,323 
Shibuya Corp. 200 6,194 
Shiga Bank Ltd. 13,200 314,255 
Shikoku Electric Power Co., Inc. 22,900 230,655 
Shima Seiki Manufacturing Ltd. 2,800 93,631 
Shimachu Co. Ltd. 2,900 69,796 
Shimadzu Corp. 24,700 659,435 
Shimamura Co. Ltd. 2,400 178,608 
SHIMANO, Inc. 7,765 1,135,525 
SHIMIZU Corp. 65,900 561,417 
Shin-Etsu Chemical Co. Ltd. 36,835 3,489,178 
Shinko Electric Industries Co. Ltd. 1,800 15,819 
Shinmaywa Industries Ltd. 9,500 116,922 
Shinsei Bank Ltd. 25,700 355,756 
Shionogi & Co. Ltd. 28,000 1,627,793 
Ship Healthcare Holdings, Inc. 6,000 245,882 
Shiseido Co. Ltd. 38,655 3,025,219 
Shizuoka Bank Ltd. 34,900 266,305 
Shizuoka Gas Co. Ltd. 3,800 30,736 
SHO-BOND Holdings Co. Ltd. 1,600 109,736 
Shochiku Co. Ltd. 800 95,875 
Showa Corp. 3,200 46,767 
Showa Denko K.K. 14,982 506,371 
Showa Sangyo Co. Ltd. 200 5,404 
Siix Corp. 1,400 22,321 
Sintokogio Ltd. 600 5,618 
SKY Perfect JSAT Holdings, Inc. 3,000 11,957 
Skylark Co. Ltd. 17,800 292,898 
SMC Corp. 5,867 2,425,908 
SMS Co., Ltd. 9,400 179,908 
Sodick Co. Ltd. 600 5,375 
SoftBank Corp. 84,101 8,917,346 
SoftBank Corp. 167,600 1,973,977 
Sohgo Security Services Co., Ltd. 9,500 422,573 
Sojitz Corp. 126,900 436,310 
Sony Corp. 131,105 6,603,511 
Sony Financial Holdings, Inc. 17,500 356,143 
Sosei Group Corp. (a) 9,512 124,498 
Sotetsu Holdings, Inc. 5,500 151,825 
Square Enix Holdings Co. Ltd. 10,800 371,327 
St. Marc Holdings Co. Ltd. 100 2,240 
Stanley Electric Co. Ltd. 17,439 471,219 
Star Micronics Co. Ltd. 2,800 45,445 
Starts Corp., Inc. 500 11,091 
Subaru Corp. 64,525 1,575,836 
Sugi Holdings Co. Ltd. 3,400 171,229 
Sumco Corp. 31,600 414,166 
Sumitomo Bakelite Co. Ltd. 2,400 93,290 
Sumitomo Chemical Co. Ltd. 136,400 675,908 
Sumitomo Corp. 106,900 1,525,361 
Sumitomo Electric Industries Ltd. 77,400 1,024,519 
Sumitomo Forestry Co. Ltd. 20,323 278,587 
Sumitomo Heavy Industries Ltd. 13,947 491,422 
Sumitomo Metal Mining Co. Ltd. 24,800 774,534 
Sumitomo Mitsui Construction Co. Ltd. 19,960 129,728 
Sumitomo Mitsui Financial Group, Inc. 129,433 4,704,402 
Sumitomo Mitsui Trust Holdings, Inc. 32,800 1,144,430 
Sumitomo Osaka Cement Co. Ltd. 5,003 203,003 
Sumitomo Realty & Development Co. Ltd. 34,887 1,284,989 
Sumitomo Riko Co. Ltd. 500 4,376 
Sumitomo Rubber Industries Ltd. 30,300 371,831 
Sumitomo Seika Chemicals Co. Ltd. 100 3,865 
Sundrug Co. Ltd. 12,241 327,027 
Suntory Beverage & Food Ltd. 15,000 659,814 
Sushiro Global Holdings Ltd. 1,500 97,895 
Suzuken Co. Ltd. 8,100 465,371 
Suzuki Motor Corp. 36,540 1,661,431 
Sysmex Corp. 16,800 957,975 
SystemPro Co. Ltd. 3,600 42,982 
T Hasegawa Co. Ltd. 6,900 111,000 
T&D Holdings, Inc. 75,600 812,024 
Tachi-S Co. Ltd. 1,100 16,896 
Tadano Ltd. 11,700 122,677 
Taiheiyo Cement Corp. 14,291 458,000 
Taikisha Ltd. 1,100 33,130 
Taisei Corp. 21,900 958,414 
Taisho Pharmaceutical Holdings Co. Ltd. 4,500 415,279 
Taiyo Holdings Co. Ltd. 500 17,528 
Taiyo Nippon Sanso Corp. 14,800 245,659 
Taiyo Yuden Co. Ltd. 11,800 284,632 
Takara Bio, Inc. 3,100 67,680 
Takara Holdings, Inc. 19,969 231,966 
Takara Leben Co. Ltd. 300 929 
Takara Standard Co. Ltd. 1,200 18,238 
Takasago International Corp. 100 3,025 
Takasago Thermal Engineering Co. Ltd. 500 7,891 
Takashimaya Co. Ltd. 19,200 215,277 
Takeda Pharmaceutical Co. Ltd. 151,970 5,607,955 
Takeuchi Manufacturing Co. Ltd. 1,300 24,437 
Takuma Co. Ltd. 3,000 36,061 
Tamron Co. Ltd. 300 5,839 
TDK Corp. 13,481 1,172,682 
TechnoPro Holdings, Inc. 6,200 370,124 
TECMO KOEI HOLDINGS CO., LTD. 5,160 93,662 
Teijin Ltd. 13,000 222,550 
Tekken Corp. 100 2,605 
Terumo Corp. 63,200 1,898,922 
The Aichi Bank Ltd. 100 3,254 
The Aomori Bank Ltd. 1,000 26,060 
The Awa Bank Ltd. 2,400 60,067 
The Bank of Iwate Ltd. 2,200 63,100 
The Bank of Okinawa Ltd. 500 15,508 
The Bank of Saga Ltd. 300 4,743 
The Chugoku Bank Ltd. 10,700 103,067 
The Chukyo Bank Ltd. 1,400 27,587 
The Hachijuni Bank Ltd. 51,300 205,393 
The Hokkoku Bank Ltd. 4,400 135,087 
The Hyakugo Bank Ltd. 7,000 22,559 
The Keiyo Bank Ltd. 3,000 18,502 
The Kiyo Bank Ltd. 25,800 350,192 
The Miyazaki Bank Ltd. 2,500 59,989 
The Musashino Bank Ltd. 900 17,395 
The Nanto Bank Ltd. 500 9,336 
The Oita Bank Ltd. 1,000 30,028 
The Okinawa Electric Power Co., Inc. 1,787 29,501 
The Pack Corp. 300 9,641 
The San-In Godo Bank Ltd. 43,100 284,380 
The Shikoku Bank Ltd. 5,900 53,759 
The Sumitomo Warehouse Co. Ltd. 18,900 240,926 
The Suruga Bank Ltd. 7,900 34,750 
The Tochigi Bank Ltd. 400 808 
The Toho Bank Ltd. 9,000 23,269 
The Towa Bank Ltd. 1,400 8,936 
The Yamagata Bank Ltd. 200 3,212 
The Yamanashi Chuo Bank Ltd. 3,400 39,740 
THK Co. Ltd. 17,900 466,964 
TKC Corp. 1,400 54,607 
Toagosei Co. Ltd. 9,400 102,190 
Tobu Railway Co. Ltd. 20,700 583,491 
Toc Co. Ltd. 2,400 14,952 
Tocalo Co. Ltd. 3,600 29,441 
Toda Corp. 45,300 278,563 
Toei Co. Ltd. 600 77,616 
Toho Co. Ltd. 10,300 430,419 
Toho Gas Co. Ltd. 8,700 357,700 
Toho Holdings Co. Ltd. 12,700 296,423 
Toho Zinc Co. Ltd. 1,000 26,042 
Tohoku Electric Power Co., Inc. 47,900 546,962 
Tokai Carbon Co. Ltd. (b) 22,800 261,782 
TOKAI Holdings Corp. 3,000 24,938 
Tokai Rika Co. Ltd. 2,100 36,365 
Tokai Tokyo Financial Holdings 9,400 31,053 
Token Corp. 200 12,173 
Tokio Marine Holdings, Inc. 64,693 3,253,379 
Tokushu Tokai Paper Co. Ltd. 400 14,722 
Tokuyama Corp. 7,435 183,547 
Tokyo Broadcasting System Holding 700 13,265 
Tokyo Century Corp. 5,700 261,987 
Tokyo Dome Corp. 9,900 98,027 
Tokyo Electric Power Co., Inc. (a) 141,628 798,441 
Tokyo Electron Ltd. 15,823 2,506,368 
Tokyo Gas Co. Ltd. 37,335 947,494 
Tokyo Ohka Kogyo Co. Ltd. 2,000 63,558 
Tokyo Seimitsu Co. Ltd. 2,800 80,937 
Tokyo Steel Manufacturing Co. Ltd. 18,600 158,625 
Tokyo Tatemono Co. Ltd. 30,700 344,770 
Tokyo TY Financial Group, Inc. 1,500 21,599 
Tokyotokeiba Co. Ltd. 1,200 35,011 
Tokyu Construction Co. Ltd. 2,500 17,932 
Tokyu Corp. 53,300 867,001 
Tokyu Fudosan Holdings Corp. 57,600 323,691 
Tokyu REIT, Inc. 95 149,244 
TOMONY Holdings, Inc. 3,900 14,144 
Tomy Co. Ltd. 11,000 117,312 
Topcon Corp. 13,760 166,140 
Toppan Forms Co. Ltd. 300 2,734 
Toppan Printing Co. Ltd. 31,000 501,198 
Topre Corp. 2,700 50,318 
Topy Industries Ltd. 100 2,300 
Toray Industries, Inc. 140,300 960,083 
TORIDOLL Holdings Corp. 800 17,854 
Toshiba Corp. 65,852 2,187,283 
Toshiba Machine Co. Ltd. 1,000 22,676 
Toshiba Plant Systems & Services Corp. 4,600 82,259 
Toshiba Tec Corp. 2,800 77,167 
Tosho Co. Ltd. 200 5,126 
Tosoh Corp. 29,300 469,505 
Totetsu Kogyo Co. Ltd. 400 11,688 
Toto Ltd. 15,000 631,536 
Towa Pharmaceutical Co. Ltd. 2,400 58,839 
Toyo Engineering Corp. (a) 200 1,061 
Toyo Ink South Carolina Holdings Co. Ltd. 2,949 70,393 
Toyo Seikan Group Holdings Ltd. 15,200 302,786 
Toyo Suisan Kaisha Ltd. 9,636 366,340 
Toyo Tire Corp. 7,200 83,961 
Toyobo Co. Ltd. 16,800 218,832 
Toyoda Gosei Co. Ltd. 11,800 244,697 
Toyota Boshoku Corp. 3,100 45,751 
Toyota Industries Corp. 15,000 848,333 
Toyota Motor Corp. 226,092 13,997,459 
Toyota Tsusho Corp. 19,549 645,813 
TPR Co. Ltd. 1,200 23,473 
Trancom Co. Ltd. 1,500 86,853 
Trans Cosmos, Inc. 2,400 52,268 
Trend Micro, Inc. 11,900 593,958 
Trusco Nakayama Corp. 3,200 80,578 
TS tech Co. Ltd. 4,600 137,304 
TSI Holdings Co. Ltd. 5,300 32,924 
Tsubaki Nakashima Co. Ltd. 3,400 62,875 
Tsubakimoto Chain Co. 1,200 44,436 
Tsugami Corp. 4,000 35,801 
Tsukui Corp. 600 3,733 
Tsumura & Co. 9,484 290,748 
Tsuruha Holdings, Inc. 4,100 348,552 
TV Asahi Corp. 100 1,756 
Uacj Corp. 1,600 32,217 
Ube Industries Ltd. 17,800 378,706 
Ulvac, Inc. 5,059 168,944 
Unicharm Corp. 39,600 1,297,189 
Unipres Corp. 1,800 27,712 
United Arrows Ltd. 3,200 100,974 
United Super Markets Holdings, Inc. 2,500 22,532 
United Technology Holdings Co. Ltd. (a) 1,500 42,821 
United Urban Investment Corp. 311 496,394 
Unitika Ltd. (a) 300 1,188 
Universal Entertainment Corp. 1,000 31,330 
Unizo Holdings Co. Ltd. 3,800 67,066 
Ushio, Inc. 28,100 340,040 
USS Co. Ltd. 23,300 444,686 
V Technology Co. Ltd. 200 26,734 
Valor Holdings Co. Ltd. 3,500 85,022 
Vector, Inc. 900 10,641 
VT Holdings Co. Ltd. 400 1,609 
W-Scope Corp. 800 12,518 
Wacoal Holdings Corp. 2,000 49,302 
Wacom Co. Ltd. 4,200 16,854 
Welcia Holdings Co. Ltd. 4,900 192,446 
West Japan Railway Co. 15,256 1,131,515 
Xebio Holdings Co. Ltd. 500 5,247 
YA-MAN Ltd. 1,600 15,297 
Yahoo! Japan Corp. 293,565 780,064 
Yakult Honsha Co. Ltd. 13,200 894,654 
YAMABIKO Corp. 200 1,968 
Yamada Denki Co. Ltd. 74,710 353,446 
Yamaguchi Financial Group, Inc. 52,700 387,935 
Yamaha Corp. 14,600 753,624 
Yamaha Motor Co. Ltd. 32,007 657,408 
Yamato Holdings Co. Ltd. 32,900 712,521 
Yamato Kogyo Co. Ltd. 2,800 77,293 
Yamazaki Baking Co. Ltd. 11,300 167,580 
Yamazen Co. Ltd. 300 3,137 
Yaoko Co. Ltd. 4,500 213,295 
Yaskawa Electric Corp. 26,500 974,169 
Yodogawa Steel Works Ltd. 900 17,096 
Yokogawa Bridge Holdings Corp. 2,300 37,186 
Yokogawa Electric Corp. 26,212 545,441 
Yokohama Reito Co. Ltd. 800 6,313 
Yokohama Rubber Co. Ltd. 20,100 377,659 
Yondoshi Holdings, Inc. 1,600 35,147 
YONEX Co. Ltd. 4,400 27,096 
Yoshinoya Holdings Co. Ltd. 2,300 34,811 
Yuasa Trading Co. Ltd. 400 11,365 
Yume No Machi Souzou Iinkai Co. Ltd. 2,200 32,903 
Zenkoku Hosho Co. Ltd. 9,700 338,732 
Zenrin Co. Ltd. 6,950 150,985 
Zensho Holdings Co. Ltd. 11,700 262,999 
Zeon Corp. 22,500 218,749 
ZERIA Pharmaceutical Co. Ltd. 2,300 40,572 
Zojirushi Thermos 3,600 36,971 
Zozo, Inc. 20,900 368,675 
TOTAL JAPAN  411,271,665 
Korea (South) - 3.0%   
Advanced Process Systems Corp. 72 1,701 
AhnLab, Inc. 84 4,460 
AMOREPACIFIC Corp. 3,150 562,882 
AMOREPACIFIC Group, Inc. 4,407 284,711 
Ananti, Inc. (a) 2,696 33,584 
Asiana Airlines, Inc. (a) 10,253 58,223 
BGF Retail Co. Ltd. 1,136 213,242 
BGFretail Co. Ltd. 304 2,152 
BS Financial Group, Inc. 16,547 99,651 
Bukwang Pharmaceutical Co. Ltd. 2,078 32,759 
Cafe24 Corp. (a) 754 62,185 
Celltrion Healthcare Co. Ltd. 5,790 376,048 
Celltrion Pharm, Inc. 791 40,365 
Celltrion, Inc. (a) 8,487 1,545,729 
Cheil Industries, Inc. 8,555 753,333 
Cheil Worldwide, Inc. 13,294 290,661 
Chong Kun Dang Pharmaceutical Corp. 171 14,984 
CJ CGV Co. Ltd. 1,440 53,134 
CJ CheilJedang Corp. 1,315 355,860 
CJ Corp. 2,449 251,420 
CJ O Shopping Co. Ltd. 1,578 296,754 
Com2uS Corp. 659 56,501 
Cosmax, Inc. 1,863 221,669 
Daelim Industrial Co. 2,309 192,018 
Daesang Corp. 710 16,194 
Daewoo Engineering & Construction Co. Ltd. (a) 8,142 35,254 
Daewoo Shipbuilding & Marine Engineering Co. Ltd. (a) 3,699 92,315 
Daewoong Pharmaceutical Co. Ltd. 322 56,156 
Daou Technology, Inc. 12,717 241,992 
Db Insurance Co. Ltd. (a) 7,099 417,154 
DGB Financial Group Co. Ltd. 9,863 71,345 
DIO Corp. (a) 21 711 
Dong Suh Companies, Inc. 448 7,524 
Dong-A Socio Holdings Co. Ltd. 6 557 
Dongbu HiTek Co. Ltd. 1,070 14,708 
Dongkuk Steel Mill Co. Ltd. 3,645 23,642 
Dongwon Industries Co. 9 2,064 
Doosan Bobcat, Inc. 4,021 110,369 
Doosan Heavy Industries & Construction Co. Ltd. (a) 4,885 29,335 
Doosan Heavy Industries & Construction Co. Ltd. rights 5/9/19 (a) 2,835 3,507 
Doosan Infracore Co. Ltd. (a) 8,372 52,289 
DOUBLEUGAMES Co. Ltd. 331 21,469 
DuzonBizon Co. Ltd. 1,292 63,489 
E-Mart Co. Ltd. 1,955 288,881 
Ecopro Co. Ltd. (a) 1,658 38,672 
Enzychem Lifesciences Corp. (a) 2,056 157,555 
EO Technics Co. Ltd. 146 8,905 
F&F Co. Ltd. 1,163 81,229 
Fila Korea Ltd. 5,295 374,832 
Foosung Co. Ltd. (a) 328 2,260 
G-treeBNT Co. Ltd. (a) 987 21,961 
GemVax & Kael Co. Ltd. (a) 176 2,797 
Genexine Co. Ltd. (a) 932 59,891 
Grand Korea Leisure Co. Ltd. 2,509 50,115 
Green Cross Corp. 278 34,391 
Green Cross Holdings Corp. 10,030 209,818 
GS Engineering & Construction Corp. 5,979 208,544 
GS Holdings Corp. 8,997 401,924 
GS Retail Co. Ltd. 2,417 81,293 
Halla Holdings Corp. 157 5,975 
Hana Financial Group, Inc. 32,800 1,036,967 
Hana Tour Service, Inc. 861 47,562 
HanAll BioPharma Co. Ltd. (a) 1,336 37,474 
Handsome Co. Ltd. 2,565 94,314 
Hanjin Kal Corp. 2,719 86,428 
Hankook Tire Co. Ltd. 8,565 292,488 
Hankook Tire Worldwide Co. Ltd. 144 2,109 
Hanmi Pharm Co. Ltd. 799 298,250 
Hanmi Science Co. Ltd. 673 43,479 
Hanon Systems 19,096 205,887 
Hansae Co. Ltd. 90 2,238 
Hansol Chemical Co. Ltd. 1,913 140,516 
Hanssem Co. Ltd. 1,856 164,232 
Hanwha Aerospace Co. Ltd. (a) 4,203 111,574 
Hanwha Chemical Corp. 17,176 303,971 
Hanwha Corp. 9,728 247,377 
Hanwha Life Insurance Co. Ltd. 48,251 165,395 
HDC Hyundai Development Co. 2,195 87,875 
Hite Jinro Co. Ltd. 2,113 36,850 
HLB Life Science Co. Ltd. (a) 9,430 134,887 
HLB, Inc. (a) 2,915 210,109 
Hotel Shilla Co. 3,456 341,440 
Huchems Fine Chemical Corp. 136 2,559 
HUGEL, Inc. (a) 317 112,855 
Hyosung Advanced Materials Co. (a) 92 10,235 
Hyosung Chemical Co. Ltd. 66 7,825 
Hyosung Corp. 286 18,452 
Hyosung Heavy Industries Co. Ltd. (a) 193 6,599 
Hyosung TNC Co. Ltd. 89 12,692 
Hyundai Construction Equipment Co. Ltd. (a) 348 14,649 
Hyundai Department Store Co. Ltd. 1,315 114,666 
Hyundai Electric & Energy System Co. Ltd. 108 2,190 
Hyundai Elevator Co. Ltd. 1,002 74,030 
Hyundai Engineering & Construction Co. Ltd. 7,320 330,152 
Hyundai Fire & Marine Insurance Co. Ltd. 6,284 206,496 
Hyundai Glovis Co. Ltd. 1,804 247,195 
Hyundai Greenfood Co. Ltd. 1,111 13,315 
Hyundai Heavy Industries Co. Ltd. (a) 4,408 471,470 
Hyundai Home Shopping Network Corp. 100 8,591 
Hyundai Industrial Development & Construction Co. 972 14,363 
Hyundai Merchant Marine Co. Ltd. (a) 17,796 61,460 
Hyundai Mipo Dockyard Co. Ltd. (a) 2,611 126,063 
Hyundai Mobis 6,997 1,397,585 
Hyundai Motor Co. 12,162 1,447,098 
Hyundai Robotics Co. Ltd. 937 275,302 
Hyundai Rotem Co. Ltd. (a) 1,945 36,260 
Hyundai Steel Co. 8,835 351,424 
Hyundai Wia Corp. 1,099 47,113 
Iljin Materials Co. Ltd. 2,130 68,255 
Illinois-Yang Pharmaceutical Co. Ltd. (a) 18,564 447,350 
Industrial Bank of Korea 28,276 343,730 
ING Life Insurance Korea Ltd. (d) 2,082 63,676 
INNOCEAN Worldwide, Inc. 16 980 
iNtRON Biotechnology, Inc. 1,996 33,095 
IS Dongseo Co. Ltd. 24 749 
JB Financial Group Co. Ltd. 11,115 54,333 
Jeil Pharmaceutical Co. Ltd. 60 2,196 
Jenax, Inc. (a) 1,126 14,123 
JW Holdings Corp. 120 686 
JW Pharmaceutical Corp. 104 3,279 
JYP Entertainment Corp. 3,048 78,032 
Kakao Corp. 5,654 582,882 
Kangwon Land, Inc. 17,904 522,965 
KB Financial Group, Inc. 42,034 1,665,632 
KCC Corp. 369 112,538 
KEPCO Plant Service & Engineering Co. Ltd. 1,160 36,524 
Kia Motors Corp. 29,217 1,135,789 
Kiwoom Securities Co. Ltd. 1,279 90,320 
Koh Young Technology, Inc. 946 78,508 
Kolmar Korea Co. Ltd. 4,206 267,389 
Kolon Industries, Inc. 569 22,584 
Kolon Life Science, Inc. (a) 175 6,299 
Komipharm International Co. Ltd. (a) 2,596 47,058 
Korea Aerospace Industries Ltd. 11,652 350,358 
Korea Electric Power Corp. 29,291 711,614 
Korea Electric Terminal Co. Ltd. 40 2,000 
Korea Express Co. Ltd. (a) 585 79,155 
Korea Gas Corp. (a) 5,388 213,620 
Korea Investment Holdings Co. Ltd. 3,294 193,563 
Korea Petro Chemical Industries Co. Ltd. 202 26,031 
Korea Real Estate Investment Trust Co. (a) 960 2,148 
Korea Zinc Co. Ltd. 850 330,431 
Korean Air Lines Co. Ltd. 8,748 249,135 
Korean Reinsurance Co. 3,067 24,030 
KT Corp. 90 2,114 
KT Skylife Co. Ltd. 136 1,379 
KT&G Corp. 12,712 1,113,929 
Kumho Petro Chemical Co. Ltd. (a) 1,976 155,838 
Kumho Tire Co., Inc. (a) 6,369 24,732 
LG Chemical Ltd. 4,821 1,495,160 
LG Corp. 9,649 605,130 
LG Display Co. Ltd. 25,577 436,478 
LG Electronics, Inc. 12,101 788,014 
LG Fashion Corp. 1,267 27,103 
LG Hausys Ltd. 145 7,574 
LG Home Shopping, Inc. 38 5,589 
LG Household & Health Care Ltd. 940 1,148,341 
LG Innotek Co. Ltd. 2,186 230,054 
LG International Corp. 1,950 31,913 
LG Telecom Ltd. 13,039 160,186 
Lotte Chemical Corp. 2,075 478,636 
Lotte Confectionery Co. Ltd. (a) 2,279 96,034 
Lotte Fine Chemical Co. Ltd. 1,033 42,686 
LOTTE Hi-Mart Co. Ltd. 97 3,962 
Lotte Samkang Co. Ltd. 1 541 
Lotte Shopping Co. Ltd. 1,813 277,243 
LS Cable Ltd. 839 35,715 
LS Industrial Systems Ltd. 1,241 51,281 
Mando Corp. 1,635 46,915 
Medipost Co. Ltd. (a) 640 20,014 
Medy-Tox, Inc. 639 306,926 
Meritz Financial Holdings Co. 10,185 115,499 
Meritz Fire & Marine Insurance Co. Ltd. 9,111 186,289 
Meritz Securities Co. Ltd. (a) 76,557 332,796 
Mezzion Pharma Co. Ltd. (a) 1,914 197,318 
Mirae Asset Daewoo Co. Ltd. 52,212 349,871 
Mirae Asset Life Insurance Co. Ltd. 883 4,021 
Naturecell Co. Ltd. (a) 3,316 36,322 
NAVER Corp. 14,338 1,471,973 
NCSOFT Corp. 1,998 902,869 
Netmarble Corp. (d) 2,300 251,931 
Nexen Tire Corp. 309 2,668 
NHN Entertainment Corp. (a) 450 32,474 
Nong Shim Co. Ltd. 779 187,721 
Oci Co. Ltd. 1,695 135,570 
Orion Corp./Republic of Korea 2,013 167,576 
Orion Holdings Corp. 184 3,019 
Oscotec, Inc. (a) 5,662 131,091 
Osstem Implant Co. Ltd. (a) 2,868 142,413 
Ottogi Corp. 320 199,586 
Paradise Co. Ltd. 2,531 40,335 
Partron Co. Ltd. 892 10,613 
Pearl Abyss Corp. (a) 493 73,822 
Pharmicell Co. Ltd. (a) 3,798 36,870 
Poongsan Corp. 1,184 28,277 
POSCO 8,231 1,808,039 
POSCO Chemtech Co. Ltd. 2,467 121,441 
Posco International Corp. 1,030 16,193 
S&T Motiv Co. Ltd. (a) 21 687 
S-Oil Corp. 4,998 395,886 
S.M. Entertainment Co. Ltd. (a) 1,057 37,549 
S1 Corp. 2,397 201,808 
Sam Chun Dang Pharm Co. Ltd. 4,276 168,063 
Samlip General Food Co. Ltd. 19 2,195 
Samsung Biologics Co. Ltd. (a)(d) 1,692 494,223 
Samsung Card Co. Ltd. 7,810 248,925 
Samsung Electro-Mechanics Co. Ltd. 6,918 644,842 
Samsung Electronics Co. Ltd. 463,508 18,257,439 
Samsung Engineering Co. Ltd. (a) 13,633 199,691 
Samsung Fire & Marine Insurance Co. Ltd. 3,580 934,975 
Samsung Heavy Industries Co. Ltd. (a) 55,009 388,462 
Samsung Life Insurance Co. Ltd. 8,968 654,104 
Samsung SDI Co. Ltd. 6,036 1,226,376 
Samsung SDS Co. Ltd. 4,083 761,171 
Samsung Securities Co. Ltd. 12,652 387,491 
Samyang Holdings Corp. 20 1,381 
Sebang Global Battery Co. Ltd. 44 1,805 
Seegene, Inc. (a) 124 2,503 
Seoul Semiconductor Co. Ltd. 3,465 57,005 
SFA Engineering Corp. 764 27,534 
Shinhan Financial Group Co. Ltd. 44,895 1,702,837 
Shinsegae Co. Ltd. 732 213,813 
Shinsegae International Co. Ltd. 512 137,896 
SillaJen, Inc. (a) 5,766 323,963 
SK C&C Co. Ltd. 2,941 648,076 
SK Chemicals Co. Ltd. 563 14,704 
SK Chemicals Co. Ltd./New 604 35,129 
SK Energy Co. Ltd. 7,158 1,122,271 
SK Gas Co. Ltd. 28 2,066 
SK Hynix, Inc. 59,812 4,059,371 
SK Materials Co., Ltd. 1,092 161,453 
SK Networks Co. Ltd. 48,189 242,599 
SK Telecom Co. Ltd. 2,426 516,399 
SKC Co. Ltd. 1,350 41,462 
Soulbrain Co. Ltd. 328 14,174 
STX Pan Ocean Co. Ltd. (Korea) (a) 27,089 110,892 
Taekwang Industrial Co. Ltd. 71 91,433 
Telcon Rf Pharmaceutical, Inc. (a) 2,567 16,297 
Texcell-NetCom Co. Ltd. (a) 1,752 28,974 
Tong Yang Life Insurance Co. Ltd. 381 1,484 
Tongyang, Inc. 451 771 
Toptec Co. Ltd. 877 7,610 
Vieworks Co. Ltd. 36 985 
ViroMed Co. Ltd. (a) 1,726 385,974 
WONIK IPS Co. Ltd. 5,958 143,062 
Woongjin Coway Co. Ltd. 5,263 396,982 
Woori Financial Group, Inc. (a) 49,984 594,736 
Woori Investment & Securities Co. Ltd. 12,772 150,871 
Youngone Corp. 1,963 62,313 
Yuhan Corp. 917 193,403 
YUNGJIN Pharmaceutical Co. Ltd. (a) 5,131 28,917 
TOTAL KOREA (SOUTH)  77,581,377 
Liechtenstein - 0.0%   
Liechtensteinische Landesbank AG 3,518 239,954 
Luxembourg - 0.3%   
ADO Properties SA (d) 4,442 233,164 
Aperam 9,170 281,811 
ArcelorMittal SA (Netherlands) 72,711 1,576,250 
Aroundtown SA 76,861 622,934 
B&M European Value Retail SA 107,679 553,931 
Eurofins Scientific SA (b) 1,220 558,288 
Grand City Properties SA 11,272 264,990 
Millicom International Cellular SA (depository receipt) 6,324 369,903 
PLAY Communications SA (d) 7,880 48,582 
Reinet Investments SCA 16,415 276,513 
RTL Group SA 4,050 227,578 
SAF-Holland SA 3,387 42,167 
Senvion SA (a) 939 1,060 
SES SA (France) (depositary receipt) 40,546 689,877 
Solutions 30 SE (a) 5,444 73,211 
Stabilus SA 1,795 99,979 
Subsea 7 SA 28,669 364,201 
Tenaris SA 47,490 658,298 
TOTAL LUXEMBOURG  6,942,737 
Malaysia - 0.5%   
AEON Credit Service Bhd 450 1,774 
AirAsia Group BHD 165,300 109,147 
Alliance Bank Malaysia Bhd 160,900 158,001 
AMMB Holdings Bhd 318,700 344,561 
Axiata Group Bhd 342,256 328,639 
Berjaya Sports Toto Bhd 6,300 4,008 
British American Tobacco (Malaysia) Bhd 17,000 143,335 
Bumi Armada Bhd (a) 81,700 4,644 
Bumiputra-Commerce Holdings Bhd 556,712 709,608 
Bursa Malaysia Bhd 59,700 97,466 
Cahya Mata Sarawak Bhd 36,300 29,324 
Carlsberg Brewery BHD 22,200 135,632 
Dialog Group Bhd 406,500 316,587 
DiGi.com Bhd 418,800 465,952 
Felda Global Ventures Holdings Bhd (a) 123,800 37,429 
Fraser & Neave Holdings BHD 13,500 113,956 
Gamuda Bhd 183,800 155,593 
Genting Bhd 252,500 429,943 
Genting Malaysia Bhd 372,300 286,350 
Genting Plantations Bhd 5,700 14,503 
Hap Seng Consolidated Bhd 35,500 84,833 
Hartalega Holdings Bhd 168,700 205,239 
Hong Leong Bank Bhd 83,400 403,031 
Hong Leong Credit Bhd 34,000 158,055 
IGB (REIT) 92,500 41,613 
IHH Healthcare Bhd 182,100 244,885 
IJM Corp. Bhd 322,200 182,355 
Inari Amertron Bhd 162,950 68,183 
IOI Corp. Bhd 338,900 369,679 
IOI Properties Group Bhd 134,175 44,460 
Kossan Rubber Industries Bhd 29,800 26,236 
KPJ Healthcare Bhd 198,000 46,932 
Kuala Lumpur Kepong Bhd 76,900 460,154 
Lafarge Malaysia Bhd (a) 17,400 13,888 
Mah Sing Group Bhd 78,600 18,250 
Malayan Banking Bhd 377,659 844,926 
Malaysia Airports Holdings Bhd 80,900 149,297 
Malaysia Building Society Bhd 103,074 24,806 
Maxis Bhd 294,200 381,403 
MISC Bhd 150,800 251,668 
My E.G.Services Bhd 142,050 51,536 
Nestle (Malaysia) BHD 3,600 127,212 
Osk Holdings Bhd 3,750 893 
Petronas Chemicals Group Bhd 270,000 587,737 
Petronas Dagangan Bhd 13,700 80,122 
Petronas Gas Bhd 61,400 262,559 
PPB Group Bhd 74,940 340,035 
Press Metal Bhd 193,400 222,191 
Public Bank Bhd 306,300 1,666,888 
QL Resources Bhd 82,550 136,169 
RHB Capital Bhd 61,100 88,077 
SapuraKencana Petroleum Bhd 716,100 56,290 
Serba Dinamik Holdings BHD 121,800 123,140 
Sime Darby Bhd 224,689 126,080 
Sime Darby Plantation Bhd 352,389 439,794 
Sime Darby Property Bhd 222,889 59,840 
SP Setia Bhd 185,461 101,825 
Sunway (REIT) 92,800 41,973 
Sunway Bhd 66,983 27,056 
Telekom Malaysia Bhd 59,300 41,737 
Tenaga Nasional Bhd 335,800 997,369 
TIME dotCom Bhd 29,600 64,075 
Top Glove Corp. Bhd 208,600 245,709 
UEM Land Holdings Bhd 9,900 2,227 
UMW Holdings Bhd 33,700 44,423 
UMW Oil & Gas Corp. Bhd (a) 26,254 1,873 
UOA Development Bhd 4,000 2,186 
Westports Holdings Bhd 100,200 92,093 
Yinson Holdings Bhd 23,500 27,510 
YTL Corp. Bhd 207,534 56,721 
TOTAL MALAYSIA  14,021,685 
Malta - 0.0%   
Brait SA (a) 18,088 29,082 
Kindred Group PLC (depositary receipt) 22,104 193,029 
TOTAL MALTA  222,111 
Marshall Islands - 0.0%   
Seaspan Corp. (b) 5,714 57,940 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 818,400 174,499 
Mexico - 0.7%   
Alfa SA de CV Series A 275,300 278,237 
Alsea S.A.B. de CV 39,411 88,103 
America Movil S.A.B. de CV Series L 3,464,496 2,580,406 
Banco del Bajio SA (d) 133,600 287,246 
Banco Santander Mexico SA 152,400 255,959 
Bolsa Mexicana de Valores S.A.B. de CV 23,900 49,281 
CEMEX S.A.B. de CV unit (a) 1,627,932 753,094 
Coca-Cola FEMSA S.A.B. de CV unit 58,600 373,805 
Compartamos S.A.B. de CV 74,100 67,620 
Concentradora Fibra Danhos SA de CV 52,445 76,713 
Concentradora Fibra Hotelera Mexicana SA de CV (d) 47,600 24,355 
Controladora Comercial Mexicana S.A.B de C.V. (a) 23,100 26,381 
Controladora Vuela Compania de Aviacion S.A.B. de CV (a) 22,000 20,018 
Corporacion Inmobiliaria Vesta S.A.B. de CV 32,100 50,611 
Credito Real S.A.B. de CV 13,100 14,947 
El Puerto de Liverpool S.A.B. de CV Class C 14,100 91,274 
Embotelladoras Arca S.A.B. de CV 70,300 399,044 
Fibra Uno Administracion SA de CV 377,635 562,934 
Fomento Economico Mexicano S.A.B. de CV unit 191,891 1,871,868 
Genomma Lab Internacional SA de CV (a) 58,600 47,108 
Gruma S.A.B. de CV Series B 20,815 208,054 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 46,996 477,849 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 20,740 341,605 
Grupo Aeroportuario Norte S.A.B. de CV 46,800 288,338 
Grupo Bimbo S.A.B. de CV Series A 178,577 397,701 
Grupo Carso SA de CV Series A1 37,527 145,514 
Grupo Cementos de Chihuahua S.A.B. de CV 14,100 80,795 
Grupo Comercial Chedraui S.A.B. de CV 31,400 62,046 
Grupo Financiero Banorte S.A.B. de CV Series O 267,319 1,689,696 
Grupo Financiero Inbursa S.A.B. de CV Series O 231,600 354,527 
Grupo Herdez S.A.B. de CV 18,800 40,292 
Grupo Mexico SA de CV Series B 347,217 1,018,148 
Grupo Televisa SA de CV 266,770 542,609 
Hoteles City Express S.A.B. de CV (a) 29,900 30,897 
Industrias Bachoco SA de CV Series B 17,700 72,526 
Industrias CH SA de CV (a) 9,000 41,981 
Industrias Penoles SA de CV 18,945 217,424 
Infraestructura Energetica Nova S.A.B. de CV 61,733 269,853 
Kimberly-Clark de Mexico SA de CV Series A 129,067 223,103 
Macquarie Mexican (REIT) (d) 87,950 104,569 
Megacable Holdings S.A.B. de CV unit 33,500 147,569 
Mexichem S.A.B. de CV 107,228 248,927 
Prologis Property Mexico SA 22,300 47,687 
Promotora y Operadora de Infraestructura S.A.B. de CV 26,780 272,409 
Qualitas Controladora S.A.B. de CV 2,300 6,101 
Regional S.A.B. de CV 24,500 133,512 
Telesites S.A.B. de C.V. (a) 40,900 27,788 
Terrafina 48,800 81,163 
Unifin Financiera SAPI de CV 2,000 4,487 
Wal-Mart de Mexico SA de CV Series V 528,430 1,552,865 
TOTAL MEXICO  17,049,039 
Multi-National - 0.0%   
HK Electric Investments & HK Electric Investments Ltd. unit 343,000 335,794 
HKT Trust/HKT Ltd. unit 432,000 669,631 
Langham Hospitality Investment unit 24,000 9,821 
TOTAL MULTI-NATIONAL  1,015,246 
Netherlands - 3.0%   
Aalberts Industries NV 15,620 613,179 
ABN AMRO Group NV GDR (d) 44,287 1,041,628 
Accell Group NV 2,287 65,154 
Accell Group NV rights (a)(e) 2,287 1,283 
Adyen BV (d) 1,042 848,014 
AEGON NV 195,355 1,019,782 
AerCap Holdings NV (a) 12,606 625,762 
Airbus Group NV 59,034 8,083,505 
Akzo Nobel NV 21,880 1,857,724 
AMG Advanced Metallurgical Group NV 1,527 46,277 
Arcadis NV 10,167 191,918 
Arcadis NV rights (a)(e) 10,167 5,360 
Argenx SE (a) 3,131 401,261 
ASM International NV (Netherlands) 4,075 276,791 
ASML Holding NV (Netherlands) 41,266 8,587,523 
ASR Nederland NV 14,764 655,748 
Basic-Fit NV (a)(d) 5,919 209,785 
BE Semiconductor Industries NV 9,450 271,549 
BinckBank NV 316 2,240 
Brack Capital Properties NV (a) 281 29,608 
Brunel International NV 60 972 
CNH Industrial NV 110,230 1,195,293 
Constellium NV (a) 8,009 74,804 
COSMO Pharmaceuticals NV (a) 427 40,313 
CSM NV (exchangeable) 11,662 372,783 
Eurocommercial Properties NV (Certificaten Van Aandelen) unit 2,525 73,180 
Euronext NV (d) 6,127 425,723 
EXOR NV 9,666 643,545 
Ferrari NV 12,621 1,709,302 
Fiat Chrysler Automobiles NV 107,653 1,658,293 
Flow Traders BV (d) 2,332 66,854 
Fugro NV (Certificaten Van Aandelen) (a) 3,080 28,051 
Gemalto NV (a) 5,804 332,324 
Heineken Holding NV 11,610 1,179,122 
Heineken NV (Bearer) 24,380 2,631,645 
IMCD Group BV 5,548 448,030 
ING Groep NV (Certificaten Van Aandelen) 401,492 5,123,049 
Intertrust NV (d) 2,942 55,799 
Interxion Holding N.V. (a) 10,093 698,335 
Kendrion NV 921 22,571 
Kendrion NV rights 4/29/19 (a)(e) 921 899 
Koninklijke Ahold Delhaize NV 119,305 2,875,441 
Koninklijke BAM Groep NV 52,512 255,615 
Koninklijke BAM Groep NV rights (a)(e) 52,512 8,246 
Koninklijke Boskalis Westminster NV 12,741 348,541 
Koninklijke DSM NV 18,850 2,155,905 
Koninklijke KPN NV 345,257 1,061,098 
Koninklijke Philips Electronics NV 96,378 4,138,831 
Koninklijke Volkerwessels NV 3,756 80,295 
Koninklijke Wessanen NV 6,068 78,676 
NN Group NV 29,498 1,284,358 
NSI NV 4,639 183,670 
NSI NV rights 5/14/19 (a)(e) 4,639 5,827 
NXP Semiconductors NV 35,771 3,778,133 
OCI NV (a) 11,437 331,597 
Pharming Group NV (a) 50,698 46,912 
Philips Lighting NV (d) 10,480 314,194 
PostNL NV 26,741 69,253 
PostNL NV rights 10/24/19 (a)(e) 26,741 5,099 
QIAGEN NV (Germany) (a) 22,320 861,924 
Randstad NV 11,015 629,087 
RHI Magnesita NV 4,321 279,588 
SBM Offshore NV 16,198 300,130 
Steinhoff International Holdings NV (South Africa) (a) 197,801 28,346 
STMicroelectronics NV (France) 71,970 1,321,709 
Takeaway.com Holding BV (a)(d) 4,162 358,043 
TKH Group NV (depositary receipt) 7,498 402,996 
TomTom Group BV (a) 12,105 104,380 
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit 14,397 2,474,631 
Unilever NV (Certificaten Van Aandelen) (Bearer) 150,390 9,099,284 
VastNed Retail NV 905 31,771 
Vopak NV 7,371 328,626 
Wereldhave NV 9,758 249,755 
Wolters Kluwer NV 27,789 1,938,035 
X5 Retail Group NV GDR 15,607 473,837 
TOTAL NETHERLANDS  77,518,811 
New Zealand - 0.2%   
Air New Zealand Ltd. 48,086 86,233 
Argosy Property Ltd. 24,000 21,079 
Auckland International Airport Ltd. 101,113 538,241 
Chorus Ltd. 116,322 465,372 
Contact Energy Ltd. 69,258 310,387 
Fisher & Paykel Healthcare Corp. 63,868 674,414 
Fletcher Building Ltd. 73,893 254,662 
Genesis Energy Ltd. 26,531 54,135 
Goodman Property Trust 98,744 114,095 
Infratil Ltd. 62,730 181,835 
Kiwi Property Group Ltd. 148,761 153,011 
Mercury Nz Ltd. 64,663 159,797 
Meridian Energy Ltd. 139,384 377,964 
Metlifecare Ltd. 10,948 36,195 
New Zealand Refining Co. Ltd. 2,258 3,137 
Precinct Properties New Zealand Ltd. 124,126 132,646 
Restaurant Brands NZ Ltd. 2,022 11,479 
Ryman Healthcare Group Ltd. 50,885 412,931 
Sky Network Television Ltd. 43,709 35,616 
SKYCITY Entertainment Group Ltd. 56,805 154,795 
Spark New Zealand Ltd. 218,067 534,524 
Summerset Group Holdings Ltd. 6,368 23,860 
Synlait Milk Ltd. (a) 12,620 89,093 
The a2 Milk Co. Ltd. (a) 75,361 844,095 
Trade Maine Group Ltd. 38,105 163,646 
Z Energy Ltd. 41,646 176,071 
TOTAL NEW ZEALAND  6,009,313 
Norway - 0.6%   
Adevinta ASA Class B 10,734 105,605 
Akastor ASA (a) 1,713 2,649 
Aker ASA (A Shares) 4,705 321,758 
Aker Bp ASA 13,993 461,435 
Aker Solutions ASA (a) 14,785 75,866 
Austevoll Seafood ASA 5,930 68,940 
B2Holding ASA 10,356 15,989 
Borregaard ASA 6,927 70,294 
Det Norske Oljeselskap ASA (DNO) (A Shares) 82,029 186,070 
DNB ASA 95,281 1,829,428 
Elkem ASA (d) 44,366 183,070 
Entra ASA (d) 14,292 207,072 
Equinor ASA 104,069 2,321,437 
Europris ASA (d) 6,082 18,978 
Gjensidige Forsikring ASA 20,240 393,072 
Grieg Seafood ASA 4,522 52,178 
Kongsberg Automotive ASA (a) 27,567 25,275 
Kongsberg Gruppen ASA 12,021 174,168 
Leroy Seafood Group ASA 37,685 272,303 
Marine Harvest ASA 43,559 943,637 
Merkantildata ASA 5,873 83,866 
NEL ASA (a) 190,206 159,617 
Nordic Nanovector ASA (a) 1,041 5,538 
Nordic VLSI ASA (a) 8,476 40,280 
Norsk Hydro ASA 141,127 607,846 
Norway Royal Salmon ASA 136 2,940 
Norwegian Air Shuttle A/S (a) 11,304 47,273 
Norwegian Finans Holding ASA (a) 11,093 91,290 
Ocean Yield ASA 4,258 32,327 
Orkla ASA 77,729 609,403 
Petroleum Geo-Services ASA (a) 14,562 32,213 
Protector Forsikring ASA (a) 1,752 11,880 
Salmar ASA 6,443 292,747 
Scatec Solar AS (d) 7,878 74,694 
Schibsted ASA (B Shares) 10,734 256,796 
Skandiabanken ASA (d) 7,051 69,387 
SpareBank 1 SR-Bank ASA (primary capital certificate) 21,153 244,324 
Sparebanken Midt-Norge 13,816 149,731 
Sparebanken Nord-Norge 9,302 70,837 
Storebrand ASA (A Shares) 60,008 506,358 
Telenor ASA 74,833 1,502,307 
TGS Nopec Geophysical Co. ASA 10,051 262,592 
Tomra Systems ASA 11,887 357,955 
Veidekke ASA 19,046 212,923 
Wallenius Wilhelmsen ASA 3,283 11,644 
XXL ASA (d) 8,237 25,110 
Yara International ASA 18,836 849,508 
TOTAL NORWAY  14,340,610 
Pakistan - 0.0%   
Engro Corp. Ltd. 18,100 40,683 
Habib Bank Ltd. 43,900 39,557 
Hub Power Co. Ltd. 17,200 8,998 
Hub Power Co. Ltd. rights (a) 2,081 352 
MCB Bank Ltd. 28,400 38,182 
National Bank of Pakistan (a) 186,000 52,048 
Oil & Gas Development Co. Ltd. 34,300 34,174 
Pakistan Oilfields Ltd. 50,950 153,059 
Pakistan State Oil Co. Ltd. 55,396 76,147 
United Bank Ltd. 39,600 41,455 
TOTAL PAKISTAN  484,655 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 128,436 704,409 
Peru - 0.0%   
Compania de Minas Buenaventura SA sponsored ADR 20,779 336,828 
Philippines - 0.3%   
Aboitiz Equity Ventures, Inc. 165,400 177,671 
Aboitiz Power Corp. 140,300 102,189 
Alliance Global Group, Inc. 753,300 217,723 
Ayala Corp. 27,805 485,621 
Ayala Land, Inc. 817,000 772,646 
Bank of the Philippine Islands (BPI) 91,244 149,576 
BDO Unibank, Inc. 236,643 612,638 
Bloomberry Resorts Corp. 351,100 86,418 
Cebu Air, Inc. 5,790 9,173 
Cosco Capital, Inc. 9,000 1,299 
D&L Industries, Inc. 313,200 66,077 
DMCI Holdings, Inc. 485,800 104,744 
DoubleDragon Properties Corp. 7,760 3,778 
Filinvest Land, Inc. 24,000 714 
First Gen Corp. 9,200 3,928 
Globe Telecom, Inc. 2,120 72,906 
GT Capital Holdings, Inc. 8,815 147,314 
International Container Terminal Services, Inc. 145,860 356,478 
JG Summit Holdings, Inc. 314,460 400,973 
Jollibee Food Corp. 42,610 250,754 
Manila Electric Co. 22,440 166,913 
Manila Water Co., Inc. 38,600 16,854 
Megaworld Corp. 1,235,000 133,617 
Metro Pacific Investments Corp. 1,211,600 106,975 
Metropolitan Bank & Trust Co. 172,281 247,138 
Philippine Long Distance Telephone Co. 7,620 180,989 
Robinsons Land Corp. 137,056 64,874 
Security Bank Corp. 13,030 45,313 
SM Investments Corp. 24,340 446,735 
SM Prime Holdings, Inc. 1,057,100 846,538 
Universal Robina Corp. 72,050 212,002 
Vista Land & Lifescapes, Inc. 754,300 106,529 
TOTAL PHILIPPINES  6,597,097 
Poland - 0.3%   
Alior Bank SA (a) 9,906 152,033 
Asseco Poland SA 7,520 104,295 
Bank Handlowy w Warszawie SA 3,034 49,383 
Bank Millennium SA (a) 81,895 206,696 
Bank Polska Kasa Opieki SA 17,344 516,038 
Bank Zachodni WBK SA 3,684 382,528 
BRE Bank SA 1,819 210,867 
Budimex SA 886 34,175 
CD Projekt RED SA 6,973 392,128 
Ciech SA 399 4,996 
Cyfrowy Polsat SA (a) 22,762 157,844 
Dino Polska SA (a)(d) 6,357 211,265 
ENEA SA (a) 14,840 29,708 
Energa SA (a) 14,234 27,936 
Eurocash SA 19,858 112,763 
Grupa Lotos SA 9,926 216,003 
Jastrzebska Spolka Weglowa SA (a) 5,055 76,788 
KGHM Polska Miedz SA (Bearer) (a) 14,855 399,806 
Kruk SA 919 41,724 
LPP SA 118 264,473 
NG2 SA 2,770 150,335 
PKP Cargo SA (a) 2,161 25,221 
Polish Oil & Gas Co. SA 183,762 278,905 
Polska Grupa Energetyczna SA (a) 102,536 255,438 
Polski Koncern Naftowy Orlen SA 29,044 744,217 
Powszechna Kasa Oszczednosci Bank SA 86,887 892,186 
Powszechny Zaklad Ubezpieczen SA 62,029 681,735 
Tauron Polska Energia SA (a) 68,381 30,992 
Telekomunikacja Polska SA (a) 39,036 50,421 
Warsaw Stock Exchange 1,335 14,533 
Zaklady Azotowe w Tarnowie-Moscicach SA 3,442 37,289 
TOTAL POLAND  6,752,721 
Portugal - 0.1%   
Altri SGPS SA 5,601 43,880 
Banco Comercial Portugues SA (Reg.) (a) 1,468,771 412,008 
Corticeira Amorim SGPS SA 7,280 87,695 
CTT Correios de Portugal SA 8,784 24,886 
Energias de Portugal SA 249,597 945,944 
Galp Energia SGPS SA Class B 57,769 969,962 
Jeronimo Martins SGPS SA 30,992 504,724 
NOS SGPS SA 16,243 109,036 
Portucel Industrial Empresa Produtora de Celulosa SA 21,540 95,188 
REN - Redes Energeticas Nacionais SGPS SA 48,268 138,050 
Sonae SGPS SA 203,612 227,001 
TOTAL PORTUGAL  3,558,374 
Qatar - 0.2%   
Barwa Real Estate Co. (a) 16,543 157,717 
Doha Bank (a) 11,521 68,669 
Ezdan Holding Group (a) 101,414 298,330 
Gulf Warehousing Co. (a) 4,339 54,238 
Industries Qatar QSC (a) 20,667 686,866 
Masraf al Rayan (a) 33,155 330,571 
Medicare Group 2,883 49,492 
Qatar Electricity & Water Co. (a) 5,383 246,902 
Qatar Gas Transport Co. Ltd. (Nakilat) (a) 23,350 137,377 
Qatar Insurance Co. SAQ (a) 22,622 238,166 
Qatar Islamic Bank (a) 11,242 514,740 
Qatar National Bank SAQ (a) 44,844 2,414,056 
Qatar National Cement Co. QSC (a) 53 987 
Qatar Navigation QPSC 4,853 90,109 
Qatar Telecom (Qtel) Q.S.C. (a) 7,536 134,544 
The Commercial Bank of Qatar (a) 20,665 288,910 
United Development Co. (a) 43,829 162,519 
Vodafone Qatar QSC (a) 25,104 53,232 
TOTAL QATAR  5,927,425 
Russia - 0.8%   
Aeroflot - Russian Airlines 63,269 94,253 
Alrosa Co. Ltd. 297,243 433,202 
Credit Bank of Moscow (a) 1,200,400 110,096 
Gazprom OAO 1,051,231 2,671,419 
Inter Rao Ues JSC 2,893,773 175,445 
Lukoil PJSC 48,366 4,127,434 
Magnit OJSC GDR (Reg. S) 42,612 607,647 
Magnitogorsk Iron & Steel Works PJSC 183,600 125,512 
Mechel Steel Group OAO sponsored ADR (a) 13,492 28,333 
MMC Norilsk Nickel PJSC 6,270 1,390,807 
Mobile TeleSystems OJSC sponsored ADR 59,415 468,190 
Moscow Exchange MICEX-RTS OAO 209,074 294,421 
Mosenergo PJSC 337,078 11,660 
NOVATEK OAO GDR (Reg. S) 8,763 1,688,630 
Novolipetsk Steel OJSC 120,881 319,888 
PhosAgro OJSC GDR (Reg. S) 17,450 219,696 
Polyus PJSC 3,012 234,671 
Rosneft Oil Co. OJSC 105,746 701,307 
RusHydro PJSC rights (a) 209,433 0 
SAFMAR Financial Investments PJSC 6,590 48,944 
Sberbank of Russia 1,094,923 3,835,904 
Severstal PAO 22,033 356,174 
Sistema JSFC sponsored GDR 4,633 12,194 
Surgutneftegas OJSC 320,186 121,649 
Tatneft PAO 158,627 1,858,443 
TMK OAO GDR (Reg. S) 2,884 10,555 
VTB Bank OJSC (a) 263,487,980 144,670 
TOTAL RUSSIA  20,091,144 
Singapore - 0.9%   
Accordia Golf Trust 13,000 5,783 
Ascendas Hospitality Trust unit 11,400 7,795 
Ascendas Real Estate Investment Trust 273,100 602,382 
Ascott Residence Trust 83,171 73,381 
Asian Pay Television Trust 50,400 6,448 
Best World International Ltd. (c) 50,000 59,554 
BOC Aviation Ltd. Class A (d) 19,200 165,205 
Cache Logistics Trust 48,292 26,985 
CapitaCommercial Trust (REIT) 323,389 461,271 
CapitaLand Ltd. 227,100 589,415 
CapitaMall Trust 245,400 436,636 
CapitaRetail China Trust 60,241 66,880 
CDL Hospitality Trusts unit 39,800 46,820 
City Developments Ltd. 73,900 485,748 
ComfortDelgro Corp. Ltd. 278,200 550,223 
DBS Group Holdings Ltd. 176,466 3,665,293 
ESR (REIT) 347,526 135,423 
Ezion Holdings Ltd. warrants 4/6/23 (a) 30,780 35 
Far East Hospitality Trust unit 12,958 6,288 
First (REIT) 8,466 6,038 
First Resources Ltd. 20,200 27,179 
Frasers Centrepoint Trust 115,000 202,081 
Frasers Commercial Trust 100,504 109,364 
Frasers Logistics & Industrial Trust 138,820 120,438 
Hutchison Port Holdings Trust 671,800 157,873 
Jardine Cycle & Carriage Ltd. 14,000 365,620 
K-REIT Asia 269,294 241,555 
Keppel Corp. Ltd. 135,300 673,466 
Keppel DC (REIT) 178,800 198,506 
Keppel Infrastructure Trust 248,643 86,836 
Lippo Malls Indonesia Retail Trust 147,100 23,253 
Macquarie MEAG Prime (REIT) 158,200 88,399 
Manulife U.S. REIT 222,100 193,227 
Mapletree Commercial Trust 222,423 315,621 
Mapletree Greater China Commercial Trust 234,200 234,183 
Mapletree Industrial (REIT) 178,778 270,776 
Mapletree Logistics Trust (REIT) 380,722 414,285 
NetLink NBN Trust 236,369 144,244 
OUE Hospitality Trust 14,400 7,570 
Oue Ltd. 6,100 7,894 
Oversea-Chinese Banking Corp. Ltd. 320,227 2,848,869 
Parkway Life REIT 73,500 156,176 
Raffles Medical Group Ltd. 66,330 52,670 
Rht Health Trust 35,300 467 
Sembcorp Industries Ltd. 100,700 196,943 
Sembcorp Marine Ltd. 26,000 32,689 
Sheng Siong Group Ltd. 9,400 7,119 
SIIC Environment Holdings Ltd. 4,900 1,117 
Singapore Airlines Ltd. 45,900 326,676 
Singapore Airport Terminal Service Ltd. 113,300 435,673 
Singapore Exchange Ltd. 89,200 484,006 
Singapore Post Ltd. 76,300 58,343 
Singapore Press Holdings Ltd. 177,700 327,937 
Singapore Technologies Engineering Ltd. 192,000 559,018 
Singapore Telecommunications Ltd. 799,600 1,863,637 
SPH REIT 3,000 2,272 
StarHub Ltd. 59,300 67,580 
Suntec (REIT) 302,200 411,051 
United Engineers Ltd. 15,800 29,390 
United Overseas Bank Ltd. 133,014 2,721,697 
UOL Group Ltd. 38,631 215,295 
Venture Corp. Ltd. 31,200 389,283 
Wilmar International Ltd. 201,000 537,931 
Wing Tai Holdings Ltd. 6,800 10,249 
Yangzijiang Shipbuilding Holdings Ltd. 294,800 340,296 
Yanlord Land Group Ltd. 140,900 151,249 
Yoma Strategic Holdings Ltd. 99,600 23,800 
TOTAL SINGAPORE  23,531,406 
South Africa - 1.4%   
Advtech Ltd. 4,172 3,963 
Aeci Ltd. 3,629 24,311 
African Rainbow Minerals Ltd. 10,346 122,995 
Alexander Forbes Group Holdings Ltd. 5,905 2,241 
Anglo American Platinum Ltd. 4,883 246,444 
AngloGold Ashanti Ltd. 43,314 515,344 
Ascendis Health Ltd. (a) 1,377 426 
Aspen Pharmacare Holdings Ltd. 52,102 374,785 
Astral Foods Ltd. 2,806 35,700 
Attacq Ltd. 33,527 32,812 
AVI Ltd. 45,897 294,986 
Barclays Africa Group Ltd. 73,869 848,215 
Barloworld Ltd. 16,590 147,576 
Bidcorp Ltd. 32,233 680,645 
Bidvest Group Ltd. 39,361 597,363 
Blue Label Telecoms Ltd. (a) 2,242 771 
Capitec Bank Holdings Ltd. 4,286 400,493 
Cashbuild Ltd. 1,224 22,552 
City Lodge Hotels Ltd. 140 1,174 
Clicks Group Ltd. 22,134 302,743 
Coronation Fund Managers Ltd. 6,216 22,218 
Curro Holdings Ltd. 7,456 13,937 
DataTec Ltd. (a) 7,047 16,089 
Delta Property Fund Ltd. 4,207 641 
Dis-Chem Pharmacies Pty Ltd. (d) 10,513 19,828 
Discovery Ltd. 37,272 375,352 
Emira Property Fund Ltd. 40,873 40,659 
EOH Holdings Ltd. (a) 4,397 6,277 
Exxaro Resources Ltd. 33,546 383,018 
Famous Brands Ltd. (a) 6,133 36,091 
FirstRand Ltd. 347,189 1,648,207 
Fortress (REIT) Ltd.:   
Class A 101,302 136,462 
Class B 33,600 25,508 
Foschini Ltd. 17,325 223,766 
Gold Fields Ltd. 90,726 341,920 
Grindrod Ltd. (a) 13,572 7,286 
Growthpoint Properties Ltd. 325,753 566,567 
Harmony Gold Mining Co. Ltd. (a) 41,942 71,859 
Hosken Consolidated Investment Ltd. 537 4,167 
Hyprop Investments Ltd. 19,563 95,729 
Impala Platinum Holdings Ltd. (a) 70,598 282,589 
Imperial Holdings Ltd. 12,136 52,939 
Investec Ltd. 47,143 301,050 
Invicta Holdings Ltd. 553 1,038 
JSE Ltd. 2,784 26,991 
KAP Industrial Holdings Ltd. 368,967 189,578 
Kumba Iron Ore Ltd. 5,610 168,104 
Liberty Holdings Ltd. 7,641 55,284 
Life Healthcare Group Holdings Ltd. 99,601 181,378 
Massmart Holdings Ltd. 5,344 35,198 
MMI Holdings Ltd. (a) 230,389 287,483 
Mondi Ltd. 13,930 307,025 
Motus Holdings Ltd. 12,136 75,293 
Mr Price Group Ltd. 31,427 475,920 
MTN Group Ltd. 167,364 1,209,396 
MultiChoice Group Ltd. (a) 45,479 408,373 
Murray & Roberts Holdings Ltd. 6,685 7,127 
Nampak Ltd. (a) 20,838 15,295 
Naspers Ltd. Class N 44,604 11,474,403 
Nedbank Group Ltd. 43,300 805,341 
Netcare Ltd. 129,762 217,525 
Northam Platinum Ltd. (a) 36,566 152,348 
Oceana Group Ltd. 6,380 31,220 
Old Mutual Ltd. 532,482 855,768 
Omnia Holdings Ltd. 834 3,393 
Peregrine Holdings Ltd. 1,032 1,397 
Pick 'n Pay Stores Ltd. 24,863 120,569 
Pioneer Foods Ltd. 15,497 93,361 
Pretoria Portland Cement Co. Ltd. (a) 181,818 63,423 
PSG Group Ltd. 23,853 442,010 
Rand Merchant Insurance Holdings Ltd. 111,637 270,254 
Rebosis Property Fund Ltd. 1,887 171 
Redefine Properties Ltd. 643,220 442,902 
Remgro Ltd. 50,750 688,788 
Resilient Property Income Fund Ltd. 13,266 52,656 
Reunert Ltd. 37,499 203,184 
RMB Holdings Ltd. 73,690 430,034 
SA Corporate Real Estate Fund 131,416 32,613 
Sanlam Ltd. 197,378 1,055,534 
Sappi Ltd. 45,773 218,162 
Sasol Ltd. 57,223 1,898,455 
Shoprite Holdings Ltd. 41,351 498,178 
Sibanye-Stillwater (a) 178,251 167,597 
Spar Group Ltd. 22,842 309,776 
Standard Bank Group Ltd. 126,969 1,766,294 
Sun International Ltd. (a) 7,633 29,289 
Super Group Ltd. (a) 46,976 120,519 
Telkom SA Ltd. 31,256 185,264 
Tiger Brands Ltd. 23,476 407,732 
Tongaat Hulett Ltd. 13,023 19,509 
Truworths International Ltd. 70,731 373,754 
Tsogo Sun Holdings Ltd. 16,839 25,332 
Vodacom Group Ltd. 70,453 567,958 
Vukile Property Fund Ltd. 82,348 118,298 
Wilson Bayly Holmes-Ovcon Ltd. 1,650 13,033 
Woolworths Holdings Ltd. 144,593 482,246 
Zeder Investments Ltd. 90,708 27,330 
TOTAL SOUTH AFRICA  37,436,801 
Spain - 1.9%   
Acerinox SA 21,073 219,195 
ACS Actividades de Construccion y Servicios SA 25,663 1,180,144 
Aedas Homes SAU (a)(d) 8,016 199,595 
Aena Sme SA (d) 6,745 1,250,905 
Almirall SA 4,515 72,719 
Amadeus IT Holding SA Class A 43,896 3,491,658 
Applus Services SA 27,378 343,306 
Atresmedia Corporacion de Medios de Comunicacion SA 7,971 42,913 
Azucarera Ebro Agricolas SA 7,600 160,254 
Banco Bilbao Vizcaya Argentaria SA 689,429 4,192,314 
Banco de Sabadell SA 566,169 657,876 
Banco Santander SA (Spain) 1,656,309 8,381,087 
Bankia SA 115,813 320,193 
Bankinter SA 90,194 720,068 
Bolsas Y Mercados Espanoles 10,015 283,966 
CaixaBank SA 362,004 1,153,886 
Catalana Occidente SA 3,461 130,819 
Cellnex Telecom SA (d) 21,197 651,898 
Cemex Latam Holdings SA (a) 16,652 25,082 
Cie Automotive SA 12,999 362,451 
Compania de Distribucion Integral Logista Holdings SA 4,137 98,091 
Construcciones y Auxiliar de Ferrocarriles 2,258 106,368 
Corporacion Financiera Alba SA 954 49,113 
Distribuidora Internacional de Alimentacion SA 26,787 18,658 
Enagas SA 22,762 648,458 
Ence Energia y Celulosa SA 27,851 149,691 
Endesa SA 28,161 701,511 
Euskaltel, S.A. (d) 11,343 106,613 
Faes Farma SA 21,909 100,504 
Ferrovial SA 48,426 1,192,749 
Fluidra SA (a) 5,840 63,864 
Fomento Construcciones y Contratas SA (FOCSA) (a) 6,812 83,433 
Gas Natural SDG SA 29,223 829,901 
Gestamp Automocion SA (d) 10,749 68,539 
Global Dominion Access SA (a)(d) 14,952 79,826 
Grifols SA 32,343 897,466 
Grupo Acciona SA 2,442 282,933 
Iberdrola SA 597,894 5,433,298 
Inditex SA 111,747 3,380,297 
Indra Sistemas SA (a) 12,581 148,164 
Inmobiliaria Colonial SA 28,770 309,616 
Lar Espana Real Estate Socimi SA 11,103 87,047 
Liberbank SA 155,645 68,851 
MAPFRE SA (Reg.) 118,858 356,607 
Masmovil Ibercom SA (a) 6,197 135,814 
Mediaset Espana Comunicacion SA 15,993 123,770 
Melia Hotels International SA 30,148 298,578 
Merlin Properties Socimi SA 40,742 555,209 
Metrovacesa SA (a)(d) 6,030 69,661 
Miquel y Costas & Miquel SA 842 14,921 
Neinor Homes SLU (a)(d) 5,757 65,539 
Obrascon Huarte Lain SA (b) 18,317 22,363 
Prosegur Compania de Seguridad SA (Reg.) 24,923 129,649 
Red Electrica Corporacion SA 44,321 919,832 
Repsol SA 133,166 2,259,653 
Sacyr SA 55,034 134,686 
Siemens Gamesa Renewable Energy SA 25,470 456,789 
Talgo SA (a)(d) 5,549 36,596 
Tecnicas Reunidas SA 6,816 203,352 
Telefonica SA 478,868 3,992,489 
Tubacex SA 2,062 6,406 
Unicaja Banco SA (d) 58,447 67,127 
Viscofan Envolturas Celulosicas SA 3,887 233,460 
Zardoya Otis SA 18,427 148,808 
TOTAL SPAIN  48,976,629 
Sweden - 1.9%   
AarhusKarlshamn AB 16,166 262,757 
AcadeMedia AB (a)(d) 27,609 157,109 
AF Poyry AB (B Shares) 8,821 164,565 
Alfa Laval AB 29,517 685,139 
Alimak Group AB (d) 5,181 86,903 
Arjo AB 13,218 49,068 
ASSA ABLOY AB (B Shares) 101,760 2,175,381 
Atlas Copco AB:   
(A Shares) 64,003 1,997,809 
(B Shares) 42,342 1,205,992 
Attendo AB (d) 7,307 39,815 
Avanza Bank Holding AB 13,885 111,213 
Axfood AB 15,862 291,156 
Betsson AB (B Shares) 11,155 84,675 
Bilia AB (A Shares) 6,304 54,101 
Billerud AB 15,856 215,544 
BioGaia AB 893 43,320 
Biotage AB Class A 4,743 64,365 
Boliden AB 28,701 854,140 
Bonava AB 7,577 96,490 
Bravida AB (d) 27,164 237,918 
Bure Equity AB 2,033 37,795 
Castellum AB 27,027 485,931 
Cellavision AB 3,789 126,770 
Clas Ohlson AB (B Shares) 2,193 18,219 
Cloetta AB 13,927 42,537 
D. Carnegie & Co. AB (a) 1,489 28,162 
Dios Fastigheter AB 5,457 38,848 
Dometic Group AB (d) 30,821 281,573 
Dustin Group AB (d) 1,921 17,218 
Electrolux AB (B Shares) 25,573 626,751 
Elekta AB (B Shares) 39,010 462,697 
Eltel AB (a)(d) 3,974 7,930 
Epiroc AB:   
Class A 50,325 520,240 
Class B 52,918 523,664 
Essity AB Class B 60,402 1,790,975 
Evolution Gaming Group AB (d) 2,856 293,224 
Fabege AB 28,270 392,661 
Fastighets AB Balder (a) 9,916 313,672 
Getinge AB (B Shares) 24,257 341,762 
Granges AB 3,812 41,389 
H&M Hennes & Mauritz AB (B Shares) 86,445 1,508,374 
Haldex AB 927 7,128 
Hansa Medical AB (a) 1,570 30,303 
Hemfosa Fastigheter AB 10,982 90,880 
Hexagon AB (B Shares) 26,165 1,429,452 
HEXPOL AB (B Shares) 41,986 327,954 
Hoist Finance AB (d) 6,041 27,492 
Holmen AB (B Shares) 13,450 282,854 
Hufvudstaden AB Series A 16,525 275,360 
Husqvarna AB (B Shares) 35,139 320,833 
ICA Gruppen AB 8,347 302,032 
Industrivarden AB (C Shares) 14,791 332,866 
Indutrade AB 13,155 402,211 
Intrum Justitia AB (b) 7,404 188,538 
Investment AB Oresund 5,819 79,387 
Investor AB (B Shares) 40,224 1,918,351 
Inwido AB 1,240 8,185 
JM AB (B Shares) 4,196 79,926 
Karo Bio AB 16,144 64,918 
Kinnevik AB (B Shares) 27,710 807,507 
Klovern AB (B Shares) 27,231 36,855 
Kungsleden AB 13,492 102,514 
LeoVegas AB (d) 1,894 5,166 
Lindab International AB 3,236 36,502 
Loomis AB (B Shares) 10,852 401,495 
Lundbergfoeretagen AB 5,267 180,142 
Lundin Petroleum AB 20,347 662,625 
Mekonomen AB 3,273 24,037 
Modern Times Group MTG AB (B Shares) 8,438 109,019 
Mycronic AB 12,357 173,487 
NCC AB Series B 7,552 124,869 
Net Entertainment NE AB 13,480 42,842 
New Wave Group AB (B Shares) 582 4,191 
Nibe Industrier AB (B Shares) 36,906 496,197 
Nobia AB 5,154 32,387 
Nobina AB (d) 11,963 76,811 
Nolato AB Series B 1,115 51,749 
Nordic Entertainment Group AB Class B (a) 8,438 216,087 
Nordnet AB Class B (a)(c) 492 0 
Nyfosa AB (a) 10,982 65,660 
Pandox AB 20,528 352,258 
Peab AB 27,341 250,088 
Probi AB (a) 251 9,779 
Ratos AB (B Shares) 20,802 47,255 
RaySearch Laboratories AB (a) 398 5,058 
Recipharm AB 2,999 42,902 
Resurs Holding AB (d) 24,498 151,653 
Saab AB (B Shares) 6,862 225,896 
Sandvik AB 111,836 2,071,022 
SAS AB (a) 22,547 41,122 
Scandic Hotels Group AB (d) 5,491 51,116 
Securitas AB (B Shares) 35,997 629,463 
Skandinaviska Enskilda Banken AB (A Shares) 169,986 1,622,959 
Skanska AB (B Shares) 36,635 637,969 
SKF AB (B Shares) 42,054 780,605 
SkiStar AB 1,558 18,841 
SSAB Svenskt Stal AB:   
(A Shares) 69,911 264,127 
(B Shares) 42,341 136,542 
Svenska Cellulosa AB (SCA) (B Shares) 68,190 595,289 
Svenska Handelsbanken AB (A Shares) 153,528 1,677,001 
Sweco AB (B Shares) 9,232 235,625 
Swedbank AB (A Shares) 94,329 1,541,262 
Swedish Match Co. AB 18,098 882,451 
Swedish Orphan Biovitrum AB (a) 15,819 288,644 
Tele2 AB (B Shares) 52,525 701,710 
Telefonaktiebolaget LM Ericsson (B Shares) 315,611 3,122,080 
TeliaSonera AB 277,494 1,182,271 
Thule Group AB (d) 9,227 214,951 
Tobii AB (a) 2,177 8,031 
Trelleborg AB (B Shares) 33,175 548,674 
Vitrolife AB 6,709 141,242 
Volvo AB (B Shares) 152,448 2,443,198 
Wallenstam AB (B Shares) 13,575 130,641 
Wihlborgs Fastigheter AB 23,078 307,045 
TOTAL SWEDEN  47,955,434 
Switzerland - 5.2%   
ABB Ltd. (Reg.) 189,089 3,889,319 
Adecco SA (Reg.) 14,810 850,563 
AFG Arbonia-Forster-Holding AG 7,452 80,448 
Alcon, Inc. (a) 40,834 2,351,577 
Allreal Holding AG 1,268 202,342 
ALSO Holding AG 335 42,083 
APG SGA SA 197 56,454 
Aryzta AG (a) 94,558 141,380 
Ascom Holding AG (Reg.) 772 10,516 
Autoneum Holding AG 113 14,960 
Bachem Holding AG:   
rights 5/6/19 (a) 167 1,639 
(B Shares) 167 21,306 
Baloise Holdings AG 5,498 942,098 
Banque Cantonale Vaudoise 189 149,130 
Barry Callebaut AG 237 434,017 
Basilea Pharmaceutica AG (a) 172 7,545 
Bell AG 352 101,218 
BKW AG 4,088 260,377 
Bobst Group SA 285 20,474 
Bossard Holding AG 776 126,268 
Bucher Industries AG 400 135,905 
Burckhardt Compression Holding AG 468 141,234 
Burkhalter Holding AG 381 29,277 
Cembra Money Bank AG 2,309 214,256 
CEVA Logistics AG 3,089 90,947 
Clariant AG (Reg.) 23,985 492,905 
Coca-Cola HBC AG 20,161 720,607 
Comet Holding AG 480 47,578 
Compagnie Financiere Richemont SA Series A 54,597 3,991,169 
Credit Suisse Group AG 275,551 3,664,524 
Daetwyler Holdings AG (a) 793 122,964 
Dufry AG 5,677 554,579 
EFG International 3,288 24,685 
Emmi AG 326 287,144 
Ems-Chemie Holding AG 730 442,033 
Flughafen Zuerich AG 2,004 330,017 
Forbo Holding AG (Reg.) 197 316,491 
Galenica AG 6,305 824,207 
Galenica Sante Ltd. (d) 6,916 352,604 
GAM Holding Ltd. 10,183 42,173 
Geberit AG (Reg.) 3,739 1,567,962 
Georg Fischer AG (Reg.) 553 537,288 
Givaudan SA 924 2,393,087 
Helvetia Holding AG (Reg.) 768 488,032 
Huber+Suhner AG 2,524 201,633 
Idorsia Ltd. (a) 5,009 99,005 
Implenia AG 604 18,980 
INFICON Holding AG 332 186,535 
Interroll Holding AG 54 117,916 
Intershop Holding AG 12 5,877 
Julius Baer Group Ltd. 21,234 1,025,706 
Kaba Holding AG (B Shares) (Reg.) 396 298,861 
Kardex AG 862 133,663 
Komax Holding AG (Reg.) 349 80,010 
Kudelski SA (Bearer) 453 2,885 
Kuehne & Nagel International AG 5,065 735,927 
Lafargeholcim Ltd. (Reg.) 47,306 2,431,806 
Landis+Gyr Group AG 3,854 268,923 
LEM Holding SA 112 153,224 
Leonteq AG (a) 538 21,130 
Lindt & Spruengli AG 9 682,762 
Lindt & Spruengli AG (participation certificate) 121 804,529 
Logitech International SA (Reg.) 19,746 772,050 
Lonza Group AG 7,720 2,384,162 
Meyer Burger Technology AG (a) 17,793 12,215 
Mobimo Holding AG 983 226,709 
Nestle SA (Reg. S) 306,241 29,484,119 
Novartis AG 218,991 17,944,144 
OC Oerlikon Corp. AG (Reg.) 40,401 527,340 
Oriflame Holding AG 7,846 161,834 
Orior AG 98 7,483 
Panalpina Welttransport Holding AG 1,134 243,505 
Pargesa Holding SA 6,263 492,951 
Partners Group Holding AG 1,707 1,285,925 
PSP Swiss Property AG 4,714 481,138 
Rieter Holding AG (Reg.) 147 21,294 
Roche Holding AG (participation certificate) 70,873 18,700,788 
Schindler Holding AG:   
(participation certificate) 3,732 805,038 
(Reg.) 2,040 433,246 
Schmolz & Bickenbach AG (a) 6,294 2,903 
Schweiter Technologies AG 130 126,179 
SFS Group AG 3,420 315,837 
SGS SA (Reg.) 523 1,379,962 
Siegfried Holding AG 809 306,863 
Sika AG 12,764 1,954,153 
Sonova Holding AG Class B 5,583 1,125,969 
St.Galler Kantonalbank AG 93 42,121 
Straumann Holding AG 1,010 815,375 
Sulzer AG (Reg.) 4,281 450,808 
Sunrise Communications Group AG (d) 4,439 294,714 
Swatch Group AG (Bearer) 2,738 836,219 
Swatch Group AG (Bearer) (Reg.) 10,217 599,614 
Swiss Life Holding AG 3,414 1,605,228 
Swiss Prime Site AG 8,804 706,774 
Swiss Re Ltd. 30,125 2,899,119 
Swisscom AG 2,683 1,249,934 
Tecan Group AG 885 199,417 
Temenos Group AG 6,432 1,069,317 
u-blox Holding AG 486 40,733 
UBS Group AG 401,469 5,384,046 
Valiant Holding AG 1,501 168,226 
Valora Holding AG 884 225,132 
VAT Group AG (d) 3,425 425,205 
Vontobel Holdings AG 1,913 112,739 
VZ Holding AG 73 17,839 
Ypsomed Holding AG 367 48,119 
Zehnder Group AG 53 1,826 
Zur Rose Group AG (a) 867 82,024 
Zurich Insurance Group Ltd. 14,418 4,597,290 
ZZ Holding AG 120 103,518 
TOTAL SWITZERLAND  135,955,898 
Taiwan - 2.9%   
A-DATA Technology Co. Ltd. 1,000 1,618 
Accton Technology Corp. 47,000 199,243 
Acer, Inc. 449,000 304,399 
Advanced Ceramic X Corp. 1,000 10,032 
Advantech Co. Ltd. 51,499 416,632 
AmTRAN Technology Co. Ltd. (a) 4,000 1,547 
ASE Technology Holding Co. Ltd. 339,718 789,115 
Asia Cement Corp. 279,000 376,942 
Asia Optical Co., Inc. 6,000 17,145 
Asia Pacific Telecom Co. Ltd. (a) 262,000 68,506 
ASMedia Technology, Inc. 6,000 103,683 
ASPEED Tech, Inc. 1,000 20,775 
ASUSTeK Computer, Inc. 71,000 542,230 
AU Optronics Corp. 1,138,000 406,980 
Bank of Kaohsiung Co. Ltd. 15,272 4,774 
Capital Securities Corp. 7,490 2,254 
Catcher Technology Co. Ltd. 66,000 522,199 
Cathay Financial Holding Co. Ltd. 800,000 1,157,207 
Center Laboratories, Inc. 74,000 187,981 
Chang Hwa Commercial Bank 404,198 241,980 
Cheng Loong Corp. 28,000 17,895 
Cheng Shin Rubber Industry Co. Ltd. 267,000 356,409 
Cheng Uei Precision Industries Co. Ltd. 3,000 3,641 
Chicony Electronics Co. Ltd. 134,125 330,299 
Chilisin Electronics Corp. 9,958 31,644 
Chin-Poon Industrial Co. Ltd. 6,000 7,456 
China Airlines Ltd. 177,000 56,132 
China Bills Finance Corp. 4,000 1,909 
China Development Finance Holding Corp. 2,054,000 661,358 
China Life Insurance Co. Ltd. 476,569 396,344 
China Motor Co. Ltd. (a) 3,000 2,694 
China Petrochemical Development Corp. (a) 207,000 78,039 
China Steel Chemical Corp. 1,000 4,352 
China Steel Corp. 1,224,000 988,247 
China Synthetic Rubber Corp. 207,398 281,882 
Chinatrust Financial Holding Co. Ltd. 1,810,960 1,239,460 
Chipbond Technology Corp. 99,000 224,257 
Chroma ATE, Inc. 40,000 190,926 
Chunghwa Telecom Co. Ltd. 382,000 1,376,003 
Clevo Co. Ltd. 2,000 1,903 
Compal Electronics, Inc. 774,000 499,686 
Compeq Manufacturing Co. Ltd. 40,000 33,072 
Coretronic Corp. 14,000 21,701 
CTCI Corp. 58,000 89,904 
Cub Elecparts, Inc. 2,484 22,065 
Delta Electronics, Inc. 213,000 1,120,073 
E Ink Holdings, Inc. 57,000 68,156 
E.SUN Financial Holdings Co. Ltd. 995,322 816,498 
ECLAT Textile Co. Ltd. 14,060 200,194 
Elan Microelectronics Corp. 31,500 85,218 
Elite Material Co. Ltd. 34,000 109,145 
eMemory Technology, Inc. 6,000 74,850 
Ennoconn Corp. 1,062 9,348 
EPISTAR Corp. 118,000 103,100 
Eternal Materials Co. Ltd. 10,291 8,509 
EVA Airways Corp. 377,769 185,205 
Evergreen Marine Corp. (Taiwan) 103,840 45,532 
Everlight Electronics Co. Ltd. 11,000 10,999 
Far Eastern Department Stores Co. Ltd. 5,000 2,654 
Far Eastern International Bank 53,670 19,973 
Far Eastern Textile Ltd. 290,000 316,258 
Far EasTone Telecommunications Co. Ltd. 148,000 363,032 
Farglory Land Development Co. Ltd. 10,000 12,345 
Feng Hsin Iron & Steel Co. 17,000 33,448 
Feng Tay Enterprise Co. Ltd. 30,120 244,161 
Firich Enterprise Co. Ltd. 1,060 1,451 
First Financial Holding Co. Ltd. 892,480 636,826 
FLEXium Interconnect, Inc. 20,940 65,662 
Formosa Chemicals & Fibre Corp. 343,000 1,232,056 
Formosa Petrochemical Corp. 112,000 414,989 
Formosa Plastics Corp. 435,000 1,576,597 
Formosa Taffeta Co. Ltd. 92,000 110,899 
Foxconn Technology Co. Ltd. 167,010 373,992 
Fubon Financial Holding Co. Ltd. 659,000 972,442 
Genius Electronic Optical Co. Ltd. 10,000 127,985 
Getac Technology Corp. 2,000 3,006 
Giant Manufacturing Co. Ltd. 50,000 381,043 
Giga-Byte Technology Co. Ltd. 36,000 57,841 
Global Unichip Corp. 3,000 22,037 
GlobalWafers Co. Ltd. 20,000 218,109 
Grand Pacific Petrochemical Corp. 41,000 28,194 
Grape King Bio Ltd. 7,000 48,589 
Great Wall Enterprise Co. Ltd. 127,140 144,412 
Greatek Electronics, Inc. 9,000 12,451 
HannStar Display Corp. 76,000 19,651 
Highwealth Construction Corp. 225,000 360,050 
HIWIN Technologies Corp. 22,791 216,464 
Holystone Enterprise Co. Ltd. 9,000 29,852 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 1,350,600 3,798,043 
Hota Industrial Manufacturing Co. Ltd. 31,063 113,086 
Hotai Motor Co. Ltd. 37,000 559,155 
HTC Corp. (a) 49,000 66,281 
Hua Nan Financial Holdings Co. Ltd. 916,474 599,080 
Huaku Development Co. Ltd. 1,000 2,531 
Innolux Corp. 1,005,000 321,969 
International Games Systems Co. Ltd. 1,000 8,284 
Inventec Corp. 347,000 278,480 
ITEQ Corp. 37,000 121,529 
Kenda Rubber Industrial Co. Ltd. 12,060 11,767 
King Slide Works Co. Ltd. 1,000 10,501 
King Yuan Electronics Co. Ltd. 200,000 185,101 
King's Town Bank 111,000 118,716 
Kinpo Electronics, Inc. 6,000 2,136 
Kinsus Interconnect Technology Corp. 2,000 3,016 
LandMark Optoelectronics Corp. 4,000 35,726 
Largan Precision Co. Ltd. 10,000 1,504,757 
Lien Hwa Industrial Corp. 60,667 66,553 
Lite-On Technology Corp. 308,009 434,075 
Long Chen Paper Co. Ltd. 49,292 28,871 
Macronix International Co. Ltd. 246,380 190,952 
Makalot Industrial Co. Ltd. 20,000 137,855 
MediaTek, Inc. 166,000 1,587,373 
Mega Financial Holding Co. Ltd. 1,095,000 1,050,636 
Mercuries Life Insurance Co. Ltd. (a) 146,526 52,632 
Merida Industry Co. Ltd. 36,000 209,695 
Merry Electronics Co. Ltd. 13,209 76,086 
Micro-Star International Co. Ltd. 102,000 282,545 
MiTAC Holdings Corp. 5,748 5,952 
Namchow Chemical Industrial Co. Ltd. 1,000 1,725 
Nan Ya Plastics Corp. 528,000 1,334,438 
Nankang Rubber Tire Co. Ltd. 78,000 89,353 
Nanya Technology Corp. 152,000 321,688 
Nien Made Enterprise Co. Ltd. 24,000 187,949 
Novatek Microelectronics Corp. 57,000 371,675 
OBI Pharma, Inc. (a) 6,000 30,192 
OBI Pharma, Inc. rights 6/10/19 (a) 389 258 
Oriental Union Chemical Corp. 4,000 3,365 
PChome Online, Inc. (a) 6,062 25,796 
Pegatron Corp. 253,000 477,312 
PharmaEngine, Inc. 1,199 4,132 
PharmaEssentia Corp. (a) 46,000 212,866 
Phison Electronics Corp. 37,000 347,825 
Pou Chen Corp. 192,000 233,305 
Powertech Technology, Inc. 132,000 328,911 
Poya International Co. Ltd. 1,010 12,240 
President Chain Store Corp. 53,000 493,949 
Primax Electronics Ltd. 15,000 30,678 
Prince Housing & Development Corp. 6,000 2,165 
Qisda Corp. 546,000 347,191 
Quanta Computer, Inc. 343,000 657,097 
Radiant Opto-Electronics Corp. 32,000 107,695 
Realtek Semiconductor Corp. 39,000 263,769 
Ritek Corp. (a) 78,497 26,164 
Ruentex Development Co. Ltd. 216,000 296,369 
Ruentex Industries Ltd. 46,000 109,857 
SerComm Corp. 28,000 61,614 
Shin Kong Financial Holding Co. Ltd. 1,537,982 434,987 
Shin Zu Shing Co. Ltd. 1,000 3,802 
Shinkong Insurance Co. Ltd. 2,000 2,511 
Simplo Technology Co. Ltd. 33,000 279,788 
SINBON Electronics Co. Ltd. 1,000 3,527 
Sino-American Silicon Products, Inc. 91,000 196,712 
Sinopac Holdings Co. 1,111,495 428,024 
St.Shine Optical Co. Ltd. 3,000 55,919 
Standard Foods Corp. 41,714 73,838 
Synnex Technology International Corp. 281,100 350,215 
Systex Corp. 1,000 2,197 
Ta Chen Stainless Pipe Co. Ltd. 70,932 100,653 
Taichung Commercial Bank Co. Ltd. 130,410 50,641 
TaiMed Biologics, Inc. (a) 17,000 86,370 
Tainan Spinning Co. Ltd. 115,000 44,843 
Taishin Financial Holdings Co. Ltd. 1,005,715 455,634 
Taiwan Business Bank 914,352 377,257 
Taiwan Cement Corp. 469,728 638,424 
Taiwan Cooperative Financial Holding Co. Ltd. 889,671 590,197 
Taiwan Fertilizer Co. Ltd. 215,000 312,739 
Taiwan Glass Industry Corp. (a) 24,000 9,592 
Taiwan High Speed Rail Corp. 265,000 322,439 
Taiwan Hon Chuan Enterprise Co. Ltd. 2,000 3,210 
Taiwan Mobile Co. Ltd. 154,000 563,135 
Taiwan Paiho Ltd. 17,000 41,590 
Taiwan Secom Co. 33,000 92,266 
Taiwan Semiconductor Manufacturing Co. Ltd. 2,502,000 21,006,193 
Taiwan Shin Kong Security Co. Ltd. 2,000 2,476 
Taiwan Union Technology Corp. 24,000 87,373 
Tatung Co. Ltd. (a) 170,000 130,930 
TCI Co. Ltd. 7,448 111,110 
TECO Electric & Machinery Co. Ltd. 358,000 267,614 
The Shanghai Commercial & Savings Bank Ltd. 355,000 572,099 
Ton Yi Industrial Corp. 5,000 2,031 
Tong Hsing Electronics Industries Ltd. 6,000 22,329 
Tong Yang Industry Co. Ltd. 55,000 78,490 
Topco Scientific Co. Ltd. 4,304 12,340 
Transcend Information, Inc. 1,000 2,265 
Tripod Technology Corp. 105,000 336,046 
TSRC Corp. 6,000 5,524 
TTY Biopharm Co. Ltd. 147,000 390,072 
Tung Ho Steel Enterprise Corp. 55,000 39,334 
TXC Corp. 2,000 2,330 
Unified-President Enterprises Corp. 481,000 1,142,496 
Unimicron Technology Corp. 161,000 179,485 
United Integrated Services Co. 40,000 177,982 
United Microelectronics Corp. 1,454,000 633,993 
United Renewable Energy Co. Ltd. (a) 201,000 68,297 
USI Corp. 5,202 1,995 
Vanguard International Semiconductor Corp. 83,000 183,985 
Visual Photonics Epitaxy Co. Ltd. 14,000 38,237 
Voltronic Power Technology Corp. 10,000 197,398 
Wafer Works Corp. 43,000 54,338 
Walsin Lihwa Corp. 224,000 125,403 
Walsin Technology Corp. 28,875 176,603 
Waterland Financial Holdings Co. Ltd. 367,612 123,719 
Wei-Chuan Food Corp. (a) 2,000 1,751 
Win Semiconductors Corp. 32,389 216,961 
Winbond Electronics Corp. 664,363 345,059 
Wistron Corp. 266,829 221,048 
Wistron NeWeb Corp. 20,460 52,967 
WPG Holding Co. Ltd. 272,760 359,684 
WT Microelectronics Co. Ltd. 2,235 2,951 
Yageo Corp. 32,129 316,591 
Yieh Phui Enterprise Co. 5,459 1,664 
Yuanta Financial Holding Co. Ltd. 1,132,000 655,712 
Yuen Foong Yu Paper Manufacturing Co. 105,000 40,434 
Yulon Motor Co. Ltd. 135,000 85,189 
TOTAL TAIWAN  75,411,785 
Thailand - 0.6%   
Advanced Info Service PCL (For. Reg.) 107,400 639,336 
Airports of Thailand PCL (For. Reg.) 442,500 949,675 
Bangkok Airways PCL 65,400 24,179 
Bangkok Bank PCL (For. Reg.) 31,700 207,576 
Bangkok Chain Hospital PCL 97,300 55,482 
Bangkok Dusit Medical Services PCL (For. Reg.) 425,000 339,547 
Bangkok Expressway and Metro PCL 975,400 333,104 
Bangkok Land PCL 1,205,600 59,303 
Banpu PCL (For. Reg.) 150,900 77,536 
Beauty Community PCL 134,100 29,200 
BEC World PCL (For. Reg.) (a) 29,200 8,234 
Berli Jucker PCL (For. Reg) 127,300 205,403 
BTS Group Holdings PCL 838,800 310,107 
Bumrungrad Hospital PCL (For. Reg.) 46,900 260,086 
C.P. ALL PCL (For. Reg.) 522,200 1,267,972 
Carabao Group PCL 50,200 91,616 
Central Pattana PCL (For. Reg.) 198,400 469,310 
CH. Karnchang PCL 2,700 2,263 
Charoen Pokphand Foods PCL (For. Reg.) 334,160 285,294 
Chularat Hospital PCL 25,300 1,554 
Delta Electronics PCL (For. Reg.) 41,100 96,255 
Dynasty Ceramic PCL:   
warrants 5/7/21 (a) 7,160 186 
(For. Reg.) 17,900 1,155 
Electricity Generating PCL (For. Reg.) 9,000 83,465 
Energy Absolute PCL 226,400 395,451 
Energy Earth PCL (a)(c) 7,600 348 
Glow Energy PCL (For. Reg.) 28,700 82,276 
Gulf Energy Development PCL 46,100 150,934 
Gunkul Engineering PCL 26,739 2,312 
Hana Microelectronics PCL (For. Reg.) 58,900 59,975 
Home Product Center PCL (For. Reg.) 387,600 190,658 
Indorama Ventures PCL (For. Reg.) 195,600 280,370 
IRPC PCL (For. Reg.) 723,800 128,126 
Jasmine International Public Co. Ltd. 265,900 46,653 
Kasikornbank PCL 59,500 356,059 
Kasikornbank PCL (For. Reg.) 137,400 820,074 
KCE Electronics PCL 110,600 85,937 
Kiatnakin Bank PCL (For. Reg.) 34,900 72,167 
Krung Thai Bank PCL (For. Reg.) 507,100 300,280 
Land & House PCL (For. Reg.) 424,800 149,064 
Major Cineplex Group PCL (For. Reg.) 78,400 70,005 
Minor International PCL (For. Reg.) 357,400 419,911 
Muangthai Leasing PCL 119,900 193,463 
PTG Energy PCL 6,300 2,171 
PTT Exploration and Production PCL (For. Reg.) 144,600 604,812 
PTT Global Chemical PCL (For. Reg.) 283,900 611,518 
PTT PCL (For. Reg.) 1,063,600 1,624,516 
Robinsons Department Store PCL (For. Reg.) 121,000 220,827 
Siam Cement PCL (For. Reg.) 42,900 620,970 
Siam Commercial Bank PCL (For. Reg.) 210,400 863,551 
Siam Global House PCL 205,167 111,205 
Sino-Thai Engineering & Construction PCL (For. Reg.) (a) 16,300 12,895 
Sri Trang Agro-Industry PCL 17,760 7,289 
Srisawad Corp. PCL 105,300 180,627 
Supalai PCL (For. Reg.) 85,475 59,184 
Thai Airways International PCL (For. Reg.) (a) 60,900 24,232 
Thai Oil PCL (For. Reg.) 110,900 240,615 
Thai Union Frozen Products PCL (For. Reg.) 118,800 70,348 
Thai Vegetable Oil PCL 29,800 25,209 
Thanachart Capital PCL (For. Reg.) 152,400 253,065 
TISCO Financial Group PCL 10,800 28,339 
TMB PCL (For. Reg.) 446,200 28,239 
True Corp. PCL (For. Reg.) 675,400 108,978 
TTW PCL 130,400 50,661 
VGI Global Media PCL 360,500 108,994 
Vibhavadi Medical Center PCL 93,584 5,659 
WHA Corp. PCL 232,000 31,837 
TOTAL THAILAND  15,497,642 
Turkey - 0.1%   
AG Anadolu Grubu Holding A/S 8,884 18,894 
Akbank TAS 352,249 361,287 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 9,935 33,001 
Anadolu Sigoria 2,500 1,735 
Arcelik A/S (a) 11,166 34,320 
Aselsan A/S 28,147 96,419 
Aygaz A/S 428 662 
Bim Birlesik Magazalar A/S JSC 27,628 384,539 
Coca-Cola Icecek Sanayi A/S 3,284 17,425 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 124,151 31,418 
Eregli Demir ve Celik Fabrikalari T.A.S. 127,648 195,957 
Ford Otomotiv Sanayi A/S 3,281 28,978 
Haci Omer Sabanci Holding A/S 98,554 127,179 
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D 56,075 21,239 
Koc Holding A/S 187,562 509,227 
Petkim Petrokimya Holding A/S 50,594 37,902 
Soda Sanayii AS 51,836 67,413 
TAV Havalimanlari Holding A/S 17,302 73,361 
Tekfen Holding A/S 34,514 153,977 
Tupras Turkiye Petrol Rafinerileri A/S 12,273 253,609 
Turk Hava Yollari AO (a) 57,354 137,548 
Turk Sise ve Cam Fabrikalari A/S 66,361 67,841 
Turkcell Iletisim Hizmet A/S 94,849 198,698 
Turkiye Garanti Bankasi A/S 335,979 460,029 
Turkiye Halk Bankasi A/S 29,067 28,498 
Turkiye Is Bankasi A/S Series C 161,614 145,176 
Turkiye Sinai Kalkinma Bankasi A/S (a) 136,631 17,174 
Ulker Biskuvi Sanayi A/S 5,387 17,172 
TOTAL TURKEY  3,520,678 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 240,249 646,219 
Air Arabia PJSC (a) 150,733 41,857 
Aldar Properties PJSC 522,278 253,095 
Arabtec Holding Co. (a) 17,581 9,908 
Damac Properties Dubai Co. PJSC 80,493 27,173 
DP World Ltd. 14,955 299,100 
Dubai Investments Ltd. (a) 140,493 52,018 
Dubai Islamic Bank Pakistan Ltd. (a) 246,262 346,617 
Dubai Parks and Resorts PJSC (a) 83,207 5,301 
Emaar Development PJSC (a) 62,036 66,205 
Emaar Malls Group PJSC (a) 111,607 52,869 
Emaar Properties PJSC 353,982 462,577 
Emirates Telecommunications Corp. 173,837 790,351 
Eshraq Properties Co. PJSC (a) 6,866 864 
National Bank of Abu Dhabi PJSC (a) 272,570 1,187,297 
TOTAL UNITED ARAB EMIRATES  4,241,451 
United Kingdom - 10.5%   
3i Group PLC 95,574 1,334,148 
AA PLC 74,373 71,912 
Abcam PLC 21,452 364,494 
Acacia Mining PLC (a) 2,351 4,485 
Accesso Technology Group PLC (a) 1,923 21,315 
Admiral Group PLC 24,541 705,312 
Advanced Medical Solutions Group PLC 6,326 27,222 
Aggreko PLC 24,800 275,918 
Anglo American PLC (United Kingdom) 99,049 2,559,174 
Antofagasta PLC 41,363 489,751 
AO World PLC (a) 14,204 20,004 
Arrow Global Group PLC 4,919 12,393 
Ascential PLC 26,068 121,218 
Ashmore Group PLC 64,460 385,816 
Ashtead Group PLC 44,427 1,229,334 
ASOS PLC (a) 4,958 253,502 
Associated British Foods PLC 34,630 1,155,581 
Assura PLC 197,531 153,518 
AstraZeneca PLC (United Kingdom) 132,666 9,883,592 
Auto Trader Group PLC (d) 74,827 553,148 
Avast PLC (d) 41,457 163,802 
Aveva Group PLC 8,035 350,372 
Aviva PLC 378,432 2,125,323 
Babcock International Group PLC 35,011 239,685 
BAE Systems PLC 309,387 1,988,518 
Balfour Beatty PLC 69,858 228,830 
Bank of Georgia Group PLC 1,624 36,403 
Barclays PLC 1,639,653 3,518,706 
Barratt Developments PLC 88,564 695,004 
BBA Aviation PLC 119,251 422,969 
BCA Marketplace PLC 60,711 163,243 
Beazley PLC 56,982 427,994 
Bellway PLC 13,876 563,095 
Berkeley Group Holdings PLC 12,033 589,355 
BHP Billiton PLC 235,548 5,560,010 
Biffa PLC (d) 16,227 50,255 
Big Yellow Group PLC 13,146 178,452 
Blue Prism Group PLC (a) 5,155 124,359 
Bodycote PLC 14,511 162,164 
Bovis Homes Group PLC 8,985 130,052 
BP PLC 2,105,777 15,312,586 
Brewin Dolphin Holding PLC 17,451 74,458 
British American Tobacco PLC (United Kingdom) 240,815 9,427,654 
British Land Co. PLC 94,222 729,821 
Britvic PLC 20,924 249,248 
BT Group PLC 806,980 2,408,040 
BTG PLC (a) 27,885 303,805 
Bunzl PLC 33,199 999,601 
Burberry Group PLC 44,224 1,163,165 
Cairn Energy PLC (a) 45,641 101,891 
Capita Group PLC (a) 149,509 248,476 
Capital & Counties Properties PLC 98,169 309,918 
Card Factory PLC 20,062 53,525 
Carnival PLC 16,985 900,453 
Carphone Warehouse Group PLC 103,837 196,470 
Centrica PLC 575,725 800,354 
Chemring Group PLC 30,409 61,066 
Cineworld Group PLC 111,842 463,777 
Civitas Social Housing PLC 12,154 13,868 
Clinigen Group PLC 15,846 205,702 
Close Brothers Group PLC 18,338 371,126 
Coats Group PLC (a) 99,237 111,806 
Cobham PLC (a) 329,136 494,860 
Coca-Cola European Partners PLC 23,146 1,240,394 
Compass Group PLC 148,745 3,384,523 
Computacenter PLC 7,919 124,639 
ConvaTec Group PLC (d) 140,673 254,153 
Costain Group PLC 19,829 83,130 
Countryside Properties PLC (d) 35,739 157,986 
Cranswick PLC 4,002 151,235 
Crest Nicholson PLC 16,859 84,639 
Croda International PLC 11,723 792,009 
CVS Group PLC 1,909 15,645 
CYBG PLC 114,202 302,604 
Daily Mail & General Trust PLC Class A 18,896 161,887 
Dart Group PLC 9,875 119,885 
Dechra Pharmaceuticals PLC 10,404 360,877 
Derwent London PLC 9,399 388,525 
DFS Furniture PLC 13,771 45,073 
Diageo PLC 262,096 11,049,368 
Dialog Semiconductor PLC (a) 7,106 274,968 
Dignity PLC 1,628 15,105 
Diploma PLC 18,254 380,851 
Direct Line Insurance Group PLC 144,252 619,617 
Domino's Pizza UK & IRL PLC 91,935 320,688 
Drax Group PLC 55,026 244,681 
DS Smith PLC 136,850 637,075 
Dunelm Group PLC 7,027 78,345 
easyJet PLC 11,910 180,699 
Electrocomponents PLC 54,433 458,251 
Elementis PLC 32,720 69,334 
EMIS Group PLC 1,676 24,434 
Empiric Student Property PLC 23,726 28,959 
EnQuest PLC (a) 83,348 23,237 
Enterprise Inns PLC (a) 34,056 94,680 
Equiniti Group PLC (d) 53,086 148,555 
Essentra PLC 19,084 105,166 
Euromoney Publications PLC 7,027 112,524 
Ferrexpo PLC 15,676 42,375 
Fever-Tree Drinks PLC 9,372 384,231 
First Derivatives PLC 1,836 75,894 
Firstgroup PLC (a) 103,780 149,403 
Forterra PLC (d) 9,489 38,606 
Fresnillo PLC 17,465 170,534 
Future PLC 13,376 147,562 
G4S PLC (United Kingdom) 145,421 409,978 
Galliford Try PLC 8,705 61,524 
Games Workshop Group PLC 2,944 159,548 
GB Group PLC 31,689 245,869 
Genus PLC 9,532 299,805 
GlaxoSmithKline PLC 531,139 10,911,307 
Grainger Trust PLC 124,589 409,409 
Great Portland Estates PLC 38,197 375,858 
Greene King PLC 42,344 353,938 
Greggs PLC 8,654 202,788 
Halfords Group PLC 14,706 44,797 
Halma PLC 40,755 956,336 
Hammerson PLC 72,001 302,230 
Hansteen Holdings PLC 4,785 5,865 
Hargreaves Lansdown PLC 25,379 746,936 
Hastings Group Holdings PLC (d) 28,228 70,048 
Hays PLC 144,929 286,505 
Hikma Pharmaceuticals PLC 15,547 357,925 
Hill & Smith Holdings PLC 7,635 127,039 
Hochschild Mining PLC 7,631 18,518 
HomeServe PLC 32,622 461,549 
Howden Joinery Group PLC 74,097 490,842 
HSBC Holdings PLC (United Kingdom) 2,138,221 18,630,241 
Hunting PLC 9,314 71,537 
Hurricane Energy PLC (a) 94,337 57,817 
Ibstock PLC (d) 31,649 107,798 
IG Group Holdings PLC 30,970 205,882 
IMI PLC 35,853 491,133 
Imperial Tobacco Group PLC 91,867 2,918,196 
Inchcape PLC 54,571 437,282 
Indivior PLC (a) 66,482 33,143 
Informa PLC 127,985 1,300,092 
Inmarsat PLC 50,019 355,605 
IntegraFin Holdings PLC 22,663 116,673 
InterContinental Hotel Group PLC 18,458 1,195,759 
Intermediate Capital Group PLC 29,192 449,944 
International Personal Finance PLC 7,621 18,186 
International Quantum Epitaxy PLC (a) 32,218 33,463 
Intertek Group PLC 17,007 1,186,476 
Intu Properties PLC (b) 63,148 77,635 
Investec PLC 91,697 579,929 
iomart Group PLC 1,226 5,571 
ITE Group PLC 27,302 25,776 
ITV PLC 403,875 719,671 
J Sainsbury PLC 161,489 468,544 
J.D. Weatherspoon PLC 14,989 267,385 
Jackpotjoy PLC (a) 1,132 10,510 
John David Group PLC 35,297 289,696 
John Laing Group PLC (d) 48,706 244,143 
John Menzies PLC 927 5,923 
John Wood Group PLC 72,041 441,995 
Johnson Matthey PLC 18,351 798,534 
JRP Group PLC 86,358 76,801 
Jupiter Fund Management PLC 32,708 160,070 
Just Eat Holding Ltd. (a) 49,068 447,253 
KAZ Minerals PLC 17,076 143,979 
Kcom Group PLC 8,465 10,807 
Keller Group PLC 9,943 91,149 
Keywords Studios PLC 5,855 118,876 
Kier Group PLC 22,416 109,731 
Kingfisher PLC 243,939 841,148 
Land Securities Group PLC 72,177 868,717 
Learning Technologies Group PLC 35,683 40,947 
Legal & General Group PLC 567,269 2,057,898 
Lloyds Banking Group PLC 6,753,292 5,523,081 
London Stock Exchange Group PLC 29,544 1,937,002 
Londonmetric Properity PLC 40,461 106,683 
Lookers PLC 2,630 3,104 
Man Group PLC 118,885 242,771 
Marks & Spencer Group PLC 186,336 695,082 
Marshalls PLC 30,185 253,880 
McCarthy & Stone PLC (d) 17,225 28,796 
Mediclinic International PLC 25,723 115,085 
Meggitt PLC 65,250 463,208 
Melrose Industries PLC 490,169 1,292,423 
Merlin Entertainments PLC (d) 93,272 445,397 
Metro Bank PLC (a)(b) 6,358 62,181 
Micro Focus International PLC 32,147 812,320 
Mitchells & Butlers PLC (a) 6,311 21,026 
Mitie Group PLC 26,411 45,151 
Mondi PLC 37,837 829,149 
Moneysupermarket.com Group PLC 94,640 448,844 
Morgan Advanced Materials PLC 107,509 391,696 
Morgan Sindall PLC 6,480 110,863 
N Brown Group PLC 3,824 5,385 
National Express Group PLC Class L 31,992 171,459 
National Grid PLC 398,419 4,343,860 
NCC Group Ltd. 7,668 17,458 
NewRiver REIT PLC 15,748 47,129 
Next PLC 13,140 987,979 
NMC Health PLC 8,398 309,037 
Northgate PLC 8,573 41,139 
Ocado Group PLC (a) 57,338 1,018,724 
On The Beach Group PLC (d) 3,023 18,054 
OneSavings Bank PLC 9,977 56,594 
Ophir Energy PLC (a) 39,780 29,412 
P2P Global Investments PLC 5,361 59,002 
Pagegroup PLC 62,761 440,301 
Paragon Banking Group PLC 21,947 131,246 
Pearson PLC 82,441 893,074 
Pendragon PLC 85,397 25,612 
Pennon Group PLC 38,969 380,405 
Persimmon PLC 32,492 947,384 
Pets At Home Group PLC 34,907 68,915 
Phoenix Group Holdings PLC 67,061 631,809 
Photo-Me International PLC 11,079 13,161 
Polypipe Group PLC 17,721 101,584 
Premier Foods PLC (a) 23,207 10,728 
Premier Oil PLC (a) 58,507 76,125 
Primary Health Properties PLC 40,964 70,190 
Provident Financial PLC (a) 26,051 180,383 
Prudential PLC 246,479 5,600,343 
Purplebricks Group PLC (a)(b) 10,054 17,568 
PZ Cussons PLC Class L 16,813 44,945 
QinetiQ Group PLC 89,593 352,123 
Quilter PLC (d) 143,526 276,208 
Rathbone Brothers PLC 8,022 263,609 
Reckitt Benckiser Group PLC 63,851 5,165,957 
Redde PLC 25,770 40,459 
Redrow PLC 14,139 113,574 
RELX PLC (London Stock Exchange) 186,366 4,274,744 
Renishaw PLC 4,949 291,182 
Rentokil Initial PLC 188,006 956,123 
Restore PLC 3,422 16,421 
Rightmove PLC 97,830 689,645 
Rio Tinto PLC 125,511 7,322,195 
Rolls-Royce Holdings PLC 165,551 1,982,562 
Rotork PLC 100,002 406,726 
Royal Bank of Scotland Group PLC 460,204 1,441,053 
Royal Dutch Shell PLC:   
Class A (United Kingdom) 440,941 14,049,007 
Class B (United Kingdom) 423,163 13,656,892 
Royal Mail PLC 75,979 250,466 
RPC Group PLC 34,746 357,486 
RPS Group PLC 24,886 62,956 
RSA Insurance Group PLC 95,225 673,020 
RWS Holdings PLC 29,665 233,646 
Sabre Insurance Group PLC (d) 60,349 209,329 
Safestore Holdings PLC 21,871 183,667 
Saga PLC 187,997 144,392 
Sage Group PLC 97,109 918,575 
Savills PLC 10,381 122,102 
Scapa Group PLC 4,991 25,708 
Schroders PLC 14,655 605,218 
Scottish & Southern Energy PLC 102,259 1,530,063 
Segro PLC 104,431 923,832 
Senior Engineering Group PLC 40,300 121,814 
Serco Group PLC (a) 85,942 139,637 
Severn Trent PLC 24,147 641,089 
Shaftesbury PLC 31,144 349,058 
Shanks Group PLC 22,634 9,755 
SIG PLC 113,330 223,742 
Sirius Minerals PLC (a)(b) 252,896 57,447 
Smart Metering Systems PLC 16,109 103,560 
Smith & Nephew PLC 83,312 1,610,628 
Smiths Group PLC 41,923 832,314 
SOCO International PLC 500 492 
Softcat PLC 9,564 113,116 
Sophos Group PLC (d) 31,907 148,661 
Sound Energy PLC (a) 8,859 2,045 
Spectris PLC 10,650 381,631 
Spirax-Sarco Engineering PLC 7,720 830,518 
Spire Healthcare Group PLC (d) 16,378 28,597 
Sports Direct International PLC (a) 6,585 25,572 
SSP Group PLC 47,106 427,527 
St. James's Place Capital PLC 46,713 683,148 
St. Modwen Properties PLC 10,219 54,768 
Stagecoach Group PLC 47,395 81,395 
Standard Chartered PLC (United Kingdom) 273,544 2,496,910 
Standard Life PLC 273,450 994,498 
Stock Spirits Group PLC 10,658 31,271 
SuperGroup PLC 2,109 14,191 
Synthomer PLC 15,742 86,011 
TalkTalk Telecom Group PLC 65,899 106,728 
Tate & Lyle PLC 54,037 540,884 
Taylor Wimpey PLC 315,081 745,310 
Ted Baker PLC 2,860 59,969 
Telecom Plus PLC 3,457 63,652 
Tesco PLC 943,035 3,076,783 
The Go-Ahead Group PLC 2,295 57,968 
The Restaurant Group PLC 61,366 115,231 
The Weir Group PLC 21,117 456,969 
Thomas Cook Group PLC 82,838 28,820 
TORM PLC (a) 167 1,320 
Travis Perkins PLC 27,609 503,130 
Tritax Big Box REIT PLC 248,744 482,002 
Tullett Prebon PLC 40,307 147,800 
Tullow Oil PLC 179,774 528,160 
Ultra Electronics Holdings PLC 9,100 188,913 
Unilever PLC 126,751 7,683,023 
Unite Group PLC 36,588 449,435 
United Utilities Group PLC 61,010 659,369 
Vectura Group PLC (a) 18,438 17,455 
Vesuvius PLC 22,365 180,087 
Victoria PLC (a) 6,214 41,650 
Victrex PLC 7,029 222,913 
Vodafone Group PLC 2,924,623 5,424,808 
WH Smith PLC 8,955 239,152 
Whitbread PLC (b) 17,888 1,040,337 
William Hill PLC 127,517 267,215 
WM Morrison Supermarkets PLC 199,383 561,330 
Wolverhampton & Dudley Breweries PLC 23,336 30,887 
Workspace Group PLC 8,125 104,520 
TOTAL UNITED KINGDOM  272,315,875 
United States of America - 0.1%   
KLA-Tencor Corp. 1,127 143,670 
Maxar Technologies, Inc. 5,279 25,967 
Southern Copper Corp. 8,470 325,417 
Yum China Holdings, Inc. 36,406 1,730,741 
TOTAL UNITED STATES OF AMERICA  2,225,795 
TOTAL COMMON STOCKS   
(Cost $2,348,985,087)  2,423,770,450 
Nonconvertible Preferred Stocks - 1.2%   
Brazil - 0.6%   
Alpargatas SA (PN) 19,125 76,332 
Banco ABC Brasil SA 3,575 17,733 
Banco Bradesco SA (PN) 393,506 3,570,667 
Banco do Estado Rio Grande do Sul SA 16,700 104,005 
Bradespar SA (PN) 27,279 221,928 
Braskem SA (PN-A) 21,200 258,330 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) (a) 21,162 187,004 
Cia de Saneamento do Parana 15,500 56,290 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 16,661 410,035 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 83,935 315,524 
Companhia Energetica de Sao Paulo Series B 14,200 93,505 
Companhia Paranaense de Energia-Copel (PN-B) 7,200 75,652 
Gerdau SA 110,203 397,688 
Gol Linhas Aereas Inteligentes SA (PN) (a) 11,000 63,906 
Itau Unibanco Holding SA 492,960 4,253,102 
Itausa-Investimentos Itau SA (PN) 438,632 1,332,307 
Lojas Americanas SA (PN) 92,500 370,840 
Marcopolo SA (PN) 10,356 9,297 
Metalurgica Gerdau SA (PN) 60,300 104,573 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) 401,386 2,775,133 
Telefonica Brasil SA 49,300 585,525 
TOTAL BRAZIL  15,279,376 
Chile - 0.0%   
Coca-Cola Embonor SA Series B 0.00 7,242 17,108 
Embotelladora Andina SA Class B 34,522 123,246 
Sociedad Quimica y Minera de Chile SA (PN-B) 12,850 458,164 
TOTAL CHILE  598,518 
Colombia - 0.1%   
Bancolombia SA (PN) 52,980 670,187 
Grupo Aval Acciones y Valores SA 744,955 286,853 
Grupo de Inversiones Suramerica SA 9,299 100,259 
TOTAL COLOMBIA  1,057,299 
Germany - 0.3%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 6,507 480,225 
Biotest AG (non-vtg.) 1,682 42,353 
Draegerwerk AG & Co. KGaA (non-vtg.) 125 7,501 
Fuchs Petrolub AG 9,789 425,779 
Henkel AG & Co. KGaA 14,395 1,456,964 
Jungheinrich AG 6,788 236,168 
Porsche Automobil Holding SE (Germany) 16,000 1,112,282 
Sartorius AG (non-vtg.) 3,751 686,602 
Sixt AG Preference Shares 548 41,980 
Sto SE & Co. KGaA 572 57,034 
Volkswagen AG 17,674 3,073,382 
TOTAL GERMANY  7,620,270 
Italy - 0.0%   
Buzzi Unicem SpA (Risparmio Shares) 13,223 201,404 
Danieli & C. Officine Meccaniche SpA 1,027 14,882 
Telecom Italia SpA (Risparmio Shares) 1,016,559 530,820 
TOTAL ITALY  747,106 
Korea (South) - 0.2%   
AMOREPACIFIC Corp. 1,738 174,694 
CJ Corp. (a)(c) 125 3,938 
Daishin Securities Co. Ltd. 4,429 35,006 
Hyundai Motor Co. 2,791 194,217 
Hyundai Motor Co. Series 2 6,279 472,000 
LG Chemical Ltd. 665 114,546 
LG Household & Health Care Ltd. 351 243,949 
Samsung Electronics Co. Ltd. 111,429 3,561,102 
TOTAL KOREA (SOUTH)  4,799,452 
Panama - 0.0%   
Avianca Holdings SA 19,286 8,768 
Russia - 0.0%   
AK Transneft OAO 40 103,934 
Surgutneftegas OJSC 935,655 566,765 
TOTAL RUSSIA  670,699 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC (C Shares) (a) 11,754,121 15,327 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $30,245,623)  30,796,815 
Money Market Funds - 4.5%   
Fidelity Cash Central Fund, 2.49% (f) 105,439,813 105,460,901 
Fidelity Securities Lending Cash Central Fund 2.49% (f)(g) 11,239,378 11,240,502 
TOTAL MONEY MARKET FUNDS   
(Cost $116,700,791)  116,701,403 
TOTAL INVESTMENT IN SECURITIES - 99.1%   
(Cost $2,495,931,501)  2,571,268,668 
NET OTHER ASSETS (LIABILITIES) - 0.9%  22,518,270 
NET ASSETS - 100%  $2,593,786,938 

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) 973 June 2019 $93,262,050 $1,000,625 $1,000,625 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 650 June 2019 35,106,500 217,296 217,296 
TME S&P/TSX 60 Index Contracts (Canada) 63 June 2019 9,343,017 75,207 75,207 
TOTAL FUTURES CONTRACTS     $1,293,128 

The notional amount of futures purchased as a percentage of Net Assets is 5.3%

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 $33,815,640 or 1.3% of net assets.

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

 (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 $1,314,698 
Fidelity Securities Lending Cash Central Fund 97,630 
Total $1,412,328 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $162,697,306 $67,696,228 $94,998,930 $2,148 
Consumer Discretionary 287,823,556 214,155,477 73,665,707 2,372 
Consumer Staples 228,839,290 130,262,114 98,516,257 60,919 
Energy 166,096,267 88,664,175 77,426,773 5,319 
Financials 506,024,468 336,629,145 169,179,606 215,717 
Health Care 193,789,588 95,444,377 98,335,184 10,027 
Industrials 316,025,773 243,013,517 73,007,191 5,065 
Information Technology 219,169,633 160,495,081 58,673,818 734 
Materials 191,023,668 135,689,122 55,334,546 -- 
Real Estate 106,337,871 104,135,302 2,202,569 -- 
Utilities 76,739,845 58,050,319 18,689,526 -- 
Money Market Funds 116,701,403 116,701,403 -- -- 
Total Investments in Securities: $2,571,268,668 $1,750,936,260 $820,030,107 $302,301 
Derivative Instruments:     
Assets     
Futures Contracts $1,293,128 $1,293,128 $-- $-- 
Total Assets $1,293,128 $1,293,128 $-- $-- 
Total Derivative Instruments: $1,293,128 $1,293,128 $-- $-- 

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, 2019. 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) $1,293,128 $0 
Total Equity Risk 1,293,128 0 
Total Value of Derivatives $1,293,128 $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 distributable earnings.

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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $10,702,330) — See accompanying schedule:
Unaffiliated issuers (cost $2,379,230,710) 		$2,454,567,265  
Fidelity Central Funds (cost $116,700,791) 116,701,403  
Total Investment in Securities (cost $2,495,931,501)  $2,571,268,668 
Segregated cash with brokers for derivative instruments  6,001,644 
Foreign currency held at value (cost $8,295,707)  8,250,460 
Receivable for investments sold  220,318 
Receivable for fund shares sold  12,745,699 
Dividends receivable  9,701,281 
Distributions receivable from Fidelity Central Funds  180,617 
Other receivables  3,917 
Total assets  2,608,372,604 
Liabilities   
Payable to custodian bank $14,295  
Payable for investments purchased on a delayed delivery basis 36,452  
Payable for fund shares redeemed 2,708,212  
Accrued management fee 124,296  
Payable for daily variation margin on futures contracts 43,602  
Other payables and accrued expenses 417,378  
Collateral on securities loaned 11,241,431  
Total liabilities  14,585,666 
Net Assets  $2,593,786,938 
Net Assets consist of:   
Paid in capital  $2,493,763,806 
Total distributable earnings (loss)  100,023,132 
Net Assets  $2,593,786,938 
Net Asset Value and Maximum Offering Price   
Net Asset Value, offering price and redemption price per share ($2,593,786,938 ÷ 218,150,988 shares)  $11.89 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $29,903,238 
Interest  57,344 
Income from Fidelity Central Funds  1,412,328 
Income before foreign taxes withheld  31,372,910 
Less foreign taxes withheld  (2,821,877) 
Total income  28,551,033 
Expenses   
Management fee $574,147  
Independent trustees' fees and expenses 3,546  
Commitment fees 2,453  
Total expenses before reductions 580,146  
Expense reductions (2,091)  
Total expenses after reductions  578,055 
Net investment income (loss)  27,972,978 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (937,066)  
Fidelity Central Funds (620)  
Foreign currency transactions (801,834)  
Futures contracts 3,032,217  
Total net realized gain (loss)  1,292,697 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $417,384) 169,202,683  
Fidelity Central Funds 612  
Assets and liabilities in foreign currencies (7,598)  
Futures contracts 2,613,202  
Total change in net unrealized appreciation (depreciation)  171,808,899 
Net gain (loss)  173,101,596 
Net increase (decrease) in net assets resulting from operations  $201,074,574 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $27,972,978 $28,597,524 
Net realized gain (loss) 1,292,697 1,624,140 
Change in net unrealized appreciation (depreciation) 171,808,899 (154,449,643) 
Net increase (decrease) in net assets resulting from operations 201,074,574 (124,227,979) 
Distributions to shareholders (29,366,688) (12,739,319) 
Share transactions - net increase (decrease) 1,160,606,464 753,570,682 
Redemption fees – 11,499 
Total increase (decrease) in net assets 1,332,314,350 616,614,883 
Net Assets   
Beginning of period 1,261,472,588 644,857,705 
End of period $2,593,786,938 $1,261,472,588 

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


Financial Highlights

Fidelity Total International Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,   
 2019 2018 2017 2016 A 
Selected Per–Share Data     
Net asset value, beginning of period $11.14 $12.39 $10.09 $10.00 
Income from Investment Operations     
Net investment income (loss)B .16 .34 .31 .08 
Net realized and unrealized gain (loss) .82 (1.36) 2.04 .01 
Total from investment operations .98 (1.02) 2.35 .09 
Distributions from net investment income (.23) (.17) (.04) – 
Distributions from net realized gain – (.06) (.01) – 
Total distributions (.23) (.23) (.05) – 
Redemption fees added to paid in capitalB – –C –C –C 
Net asset value, end of period $11.89 $11.14 $12.39 $10.09 
Total ReturnD,E 9.05% (8.42)% 23.37% .90% 
Ratios to Average Net AssetsF,G     
Expenses before reductions .06%H .06% .06% .10%H 
Expenses net of fee waivers, if any .06%H .06% .06% .06%H 
Expenses net of all reductions .06%H .06% .06% .06%H 
Net investment income (loss) 2.91%H 2.81% 2.65% 2.09%H 
Supplemental Data     
Net assets, end of period (000 omitted) $2,593,787 $589,295 $135,488 $1,289 
Portfolio turnover rateI 3%H 3% 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 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, 2019

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's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

Effective after the close of business November 9, 2018, the Fund's publicly offered shares classes were consolidated into a single share class. The surviving class is Total International Index Fund (formerly Institutional Premium Class). All current fiscal period dollar and share amounts for the classes that closed, which are presented in the Notes to Financial Statements, are for the period November 1, 2018 through November 9, 2018.

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. 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, 2019 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 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 $222,083,017 
Gross unrealized depreciation (146,141,540) 
Net unrealized appreciation (depreciation) $75,941,477 
Tax cost $2,496,620,319 

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. 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 $1,154,923,435 and $25,413,934, 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 .06% of each class' average net assets on an annual basis 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.

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 $2,453 and is reflected in Commitment fees 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. 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 $97,630. During the period, there were no 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 expenses. During the period, these credits reduced the Fund's expenses by $2,091.

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2019 		Year ended
October 31, 2018 
Distributions to shareholders   
Investor Class $– $240,444 
Premium Class – 7,540,473 
Institutional Class – 2,474,976 
Fidelity Total International Index Fund 29,366,688 2,483,426 
Total $29,366,688 $12,739,319 

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, 2019 Year ended October 31, 2018 Six months ended April 30, 2019 Year ended October 31, 2018 
Investor Class     
Shares sold 18,656 2,271,802 $212,470 $28,292,302 
Reinvestment of distributions – 19,410 – 236,609 
Shares redeemed (1,838,722) (1,525,971) (20,778,358) (19,099,753) 
Net increase (decrease) (1,820,066) 765,241 $(20,565,888) $9,429,158 
Premium Class     
Shares sold 749,820 38,944,563 $8,552,900 $481,016,695 
Reinvestment of distributions – 578,359 – 7,050,193 
Shares redeemed (50,634,660) (21,258,693) (572,404,366) (253,769,567) 
Net increase (decrease) (49,884,840) 18,264,229 $(563,851,466) $234,297,321 
Institutional Class     
Shares sold 11,248 26,080,594 $127,638 $322,527,531 
Reinvestment of distributions – 202,632 – 2,470,085 
Shares redeemed (8,685,711) (26,048,101) (98,214,683) (301,741,078) 
Net increase (decrease) (8,674,463) 235,125 $(98,087,045) $23,256,538 
Fidelity Total International Index Fund     
Shares sold 182,952,063 44,428,194 $2,042,643,298 $514,699,906 
Reinvestment of distributions 2,613,038 203,727 27,959,510 2,483,426 
Shares redeemed (20,330,917) (2,647,162) (227,491,945) (30,595,667) 
Net increase (decrease) 165,234,184 41,984,759 $1,843,110,863 $486,587,665 

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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Fidelity Total International Index Fund .06%    
Actual  $1,000.00 $1,090.50 $.31 
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





Fidelity Investments

TI1-I-SANN-0619
1.9879614.102

Fidelity® U.S. Sustainability Index Fund



Semi-Annual Report

April 30, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Microsoft Corp. 7.0 
Johnson & Johnson 2.8 
Alphabet, Inc. Class C 2.8 
Alphabet, Inc. Class A 2.6 
Visa, Inc. Class A 2.1 
Procter & Gamble Co. 2.0 
Cisco Systems, Inc. 1.9 
The Walt Disney Co. 1.8 
Verizon Communications, Inc. 1.7 
MasterCard, Inc. Class A 1.7 
 26.4 

Top Five Market Sectors as of April 30, 2019

 % of fund's net assets 
Information Technology 25.4 
Health Care 12.6 
Financials 11.9 
Communication Services 11.0 
Industrials 9.2 

Asset Allocation (% of fund's net assets)

As of April 30, 2019* 
   Stocks and Equity Futures 99.9% 
   Short-Term Investments and Net Other Assets (Liabilities) 0.1% 


 * Foreign investments - 5.9%

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.6%   
 Shares Value 
COMMUNICATION SERVICES - 11.0%   
Diversified Telecommunication Services - 1.9%   
CenturyLink, Inc. 10,150 $115,913 
Verizon Communications, Inc. 43,214 2,471,409 
Zayo Group Holdings, Inc. (a) 2,092 65,459 
  2,652,781 
Entertainment - 3.1%   
Live Nation Entertainment, Inc. (a) 1,526 99,709 
Netflix, Inc. (a) 4,562 1,690,403 
The Walt Disney Co. 18,807 2,575,995 
  4,366,107 
Interactive Media & Services - 5.4%   
Alphabet, Inc.:   
Class A (a) 3,124 3,745,551 
Class C (a) 3,292 3,912,476 
TripAdvisor, Inc. (a) 1,105 58,819 
  7,716,846 
Media - 0.6%   
Discovery Communications, Inc.:   
Class A (a) 1,621 50,089 
Class C (non-vtg.) (a) 3,198 91,974 
Interpublic Group of Companies, Inc. 3,997 91,931 
Liberty Broadband Corp. Class C (a) 1,113 109,864 
Liberty Global PLC:   
Class A (a) 2,095 56,586 
Class C (a) 5,204 136,085 
Omnicom Group, Inc. 2,335 186,870 
Sirius XM Holdings, Inc. 17,366 100,896 
  824,295 
Wireless Telecommunication Services - 0.0%   
Sprint Corp. (a) 8,487 47,357 
TOTAL COMMUNICATION SERVICES  15,607,386 
CONSUMER DISCRETIONARY - 8.8%   
Auto Components - 0.3%   
Aptiv PLC 2,745 235,247 
Autoliv, Inc. 905 71,033 
BorgWarner, Inc. 2,161 90,265 
  396,545 
Automobiles - 0.3%   
Harley-Davidson, Inc. 1,692 62,993 
Tesla, Inc. (a)(b) 1,349 321,993 
  384,986 
Distributors - 0.2%   
Genuine Parts Co. 1,526 156,476 
LKQ Corp. (a) 3,347 100,745 
  257,221 
Diversified Consumer Services - 0.0%   
H&R Block, Inc. 2,135 58,093 
Hotels, Restaurants & Leisure - 2.8%   
ARAMARK Holdings Corp. 2,566 79,751 
Darden Restaurants, Inc. 1,292 151,939 
Domino's Pizza, Inc. 411 111,208 
Hilton Worldwide Holdings, Inc. 2,961 257,577 
Marriott International, Inc. Class A 3,038 414,444 
McDonald's Corp. 8,060 1,592,414 
Norwegian Cruise Line Holdings Ltd. (a) 2,305 129,979 
Royal Caribbean Cruises Ltd. 1,757 212,492 
Starbucks Corp. 12,975 1,007,898 
Vail Resorts, Inc. 421 96,346 
  4,054,048 
Household Durables - 0.5%   
Garmin Ltd. 1,177 100,916 
Leggett & Platt, Inc. 1,348 53,057 
Lennar Corp. Class A 3,064 159,420 
Mohawk Industries, Inc. (a) 654 89,108 
Newell Brands, Inc. 4,851 69,757 
NVR, Inc. (a) 36 113,489 
Whirlpool Corp. 662 91,899 
  677,646 
Internet & Direct Marketing Retail - 0.7%   
Expedia, Inc. 1,273 165,286 
The Booking Holdings, Inc. (a) 485 899,670 
  1,064,956 
Leisure Products - 0.1%   
Hasbro, Inc. 1,255 127,834 
Mattel, Inc. (a)(b) 3,589 43,750 
  171,584 
Multiline Retail - 0.2%   
Kohl's Corp. 1,742 123,856 
Macy's, Inc. 3,191 75,116 
Nordstrom, Inc. 1,227 50,332 
  249,304 
Specialty Retail - 2.2%   
Advance Auto Parts, Inc. 760 126,403 
Best Buy Co., Inc. 2,574 191,531 
CarMax, Inc. (a) 1,816 141,394 
Gap, Inc. 2,357 61,471 
L Brands, Inc. 2,430 62,305 
Lowe's Companies, Inc. 8,441 955,015 
Ross Stores, Inc. 3,924 383,218 
Tiffany & Co., Inc. 1,146 123,562 
TJX Companies, Inc. 12,980 712,342 
Tractor Supply Co. 1,269 131,342 
Ulta Beauty, Inc. (a) 591 206,247 
  3,094,830 
Textiles, Apparel & Luxury Goods - 1.5%   
Capri Holdings Ltd. (a) 1,561 68,809 
Hanesbrands, Inc. 3,748 67,726 
lululemon athletica, Inc. (a) 1,033 182,170 
NIKE, Inc. Class B 13,328 1,170,598 
PVH Corp. 796 102,676 
Tapestry, Inc. 3,037 98,004 
Under Armour, Inc.:   
Class A (sub. vtg.) (a)(b) 2,041 47,127 
Class C (non-vtg.) (a) 1,931 40,010 
VF Corp. 3,549 335,061 
  2,112,181 
TOTAL CONSUMER DISCRETIONARY  12,521,394 
CONSUMER STAPLES - 7.3%   
Beverages - 2.8%   
PepsiCo, Inc. 14,759 1,889,890 
The Coca-Cola Co. 42,286 2,074,551 
  3,964,441 
Food Products - 1.3%   
Bunge Ltd. 1,466 76,833 
Campbell Soup Co. 1,876 72,582 
General Mills, Inc. 6,265 322,460 
Hormel Foods Corp. 3,052 121,897 
Kellogg Co. 2,709 163,353 
McCormick & Co., Inc. (non-vtg.) 1,268 195,234 
Mondelez International, Inc. 15,236 774,751 
The Kraft Heinz Co. 6,343 210,841 
  1,937,951 
Household Products - 2.9%   
Clorox Co. 1,328 212,121 
Colgate-Palmolive Co. 8,623 627,668 
Kimberly-Clark Corp. 3,627 465,634 
Procter & Gamble Co. 26,038 2,772,526 
  4,077,949 
Personal Products - 0.3%   
Estee Lauder Companies, Inc. Class A 2,303 395,678 
TOTAL CONSUMER STAPLES  10,376,019 
ENERGY - 4.2%   
Energy Equipment & Services - 0.7%   
Baker Hughes, a GE Co. Class A 5,344 128,363 
National Oilwell Varco, Inc. 4,000 104,560 
Schlumberger Ltd. 14,505 619,073 
TechnipFMC PLC 4,481 110,188 
  962,184 
Oil, Gas & Consumable Fuels - 3.5%   
Apache Corp. 3,965 130,488 
Cheniere Energy, Inc. (a) 2,290 147,362 
Cimarex Energy Co. 1,052 72,230 
ConocoPhillips Co. 12,046 760,344 
Devon Energy Corp. 4,872 156,586 
Hess Corp. 2,771 177,677 
Kinder Morgan, Inc. 20,782 412,938 
Marathon Oil Corp. 8,638 147,192 
Marathon Petroleum Corp. 7,233 440,273 
Noble Energy, Inc. 4,995 135,165 
Occidental Petroleum Corp. 7,907 465,564 
ONEOK, Inc. 4,311 292,846 
Phillips 66 Co. 4,585 432,228 
Pioneer Natural Resources Co. 1,787 297,464 
Targa Resources Corp. 2,386 95,798 
The Williams Companies, Inc. 12,673 359,026 
Valero Energy Corp. 4,442 402,712 
  4,925,893 
TOTAL ENERGY  5,888,077 
FINANCIALS - 11.9%   
Banks - 3.0%   
BB&T Corp. 8,089 414,157 
CIT Group, Inc. 1,093 58,224 
Citizens Financial Group, Inc. 4,887 176,909 
Comerica, Inc. 1,681 132,110 
East West Bancorp, Inc. 1,502 77,323 
Fifth Third Bancorp 8,104 233,557 
First Republic Bank 1,732 182,934 
Huntington Bancshares, Inc. 11,032 153,565 
KeyCorp 10,796 189,470 
M&T Bank Corp. 1,405 238,948 
Peoples United Financial, Inc. 4,249 73,465 
PNC Financial Services Group, Inc. 4,832 661,646 
Regions Financial Corp. 10,747 166,901 
Signature Bank 576 76,072 
SunTrust Banks, Inc. 4,721 309,131 
SVB Financial Group (a) 554 139,453 
U.S. Bancorp 16,051 855,839 
Zions Bancorp NA 1,993 98,315 
  4,238,019 
Capital Markets - 3.9%   
Affiliated Managers Group, Inc. 548 60,784 
Ameriprise Financial, Inc. 1,451 212,963 
Bank of New York Mellon Corp. 10,343 513,633 
BlackRock, Inc. Class A 1,237 600,242 
Charles Schwab Corp. 12,717 582,184 
CME Group, Inc. 3,739 668,907 
E*TRADE Financial Corp. 2,650 134,249 
Franklin Resources, Inc. 3,198 110,619 
IntercontinentalExchange, Inc. 5,953 484,277 
Invesco Ltd. 4,300 94,471 
Moody's Corp. 1,805 354,899 
Northern Trust Corp. 2,207 217,500 
Raymond James Financial, Inc. 1,346 123,253 
S&P Global, Inc. 2,622 578,571 
State Street Corp. 3,979 269,219 
T. Rowe Price Group, Inc. 2,524 271,330 
TD Ameritrade Holding Corp. 2,947 154,953 
The NASDAQ OMX Group, Inc. 1,196 110,271 
  5,542,325 
Consumer Finance - 1.2%   
Ally Financial, Inc. 4,291 127,486 
American Express Co. 7,597 890,596 
Capital One Financial Corp. 4,974 461,736 
Discover Financial Services 3,503 285,459 
  1,765,277 
Diversified Financial Services - 0.1%   
Voya Financial, Inc. 1,633 89,635 
Insurance - 3.7%   
Allstate Corp. 3,607 357,309 
American Financial Group, Inc. 787 81,478 
American International Group, Inc. 9,266 440,784 
Aon PLC 2,520 453,953 
Arch Capital Group Ltd. (a) 4,206 142,079 
Arthur J. Gallagher & Co. 1,912 159,881 
Assurant, Inc. 665 63,175 
Chubb Ltd. 4,816 699,283 
Hartford Financial Services Group, Inc. 3,730 195,116 
Lincoln National Corp. 2,232 148,919 
Loews Corp. 2,780 142,586 
Marsh & McLennan Companies, Inc. 5,266 496,531 
Principal Financial Group, Inc. 2,947 168,451 
Progressive Corp. 6,102 476,871 
Prudential Financial, Inc. 4,331 457,830 
Reinsurance Group of America, Inc. 652 98,785 
The Travelers Companies, Inc. 2,774 398,763 
Willis Group Holdings PLC 1,353 249,412 
  5,231,206 
TOTAL FINANCIALS  16,866,462 
HEALTH CARE - 12.6%   
Biotechnology - 3.6%   
AbbVie, Inc. 15,731 1,248,884 
Amgen, Inc. 6,664 1,194,988 
Biogen, Inc. (a) 2,110 483,696 
BioMarin Pharmaceutical, Inc. (a) 1,849 158,145 
Celgene Corp. (a) 7,316 692,533 
Gilead Sciences, Inc. 13,533 880,186 
Vertex Pharmaceuticals, Inc. (a) 2,675 452,022 
  5,110,454 
Health Care Equipment & Supplies - 1.5%   
Align Technology, Inc. (a) 797 258,770 
Becton, Dickinson & Co. 2,809 676,239 
Dentsply Sirona, Inc. 2,315 118,366 
Edwards Lifesciences Corp. (a) 2,189 385,417 
Hologic, Inc. (a) 3,013 139,743 
IDEXX Laboratories, Inc. (a) 898 208,336 
ResMed, Inc. 1,484 155,093 
Varian Medical Systems, Inc. (a) 949 129,225 
  2,071,189 
Health Care Providers & Services - 1.6%   
AmerisourceBergen Corp. 1,654 123,653 
Cardinal Health, Inc. 3,108 151,391 
Centene Corp. (a) 4,316 222,533 
Cigna Corp. 3,983 632,660 
HCA Holdings, Inc. 2,884 366,931 
Henry Schein, Inc. (a) 1,586 101,599 
Humana, Inc. 1,439 367,535 
Laboratory Corp. of America Holdings (a) 1,049 167,756 
Quest Diagnostics, Inc. 1,419 136,763 
  2,270,821 
Life Sciences Tools & Services - 0.6%   
Agilent Technologies, Inc. 3,319 260,542 
IQVIA Holdings, Inc. (a) 1,667 231,546 
Mettler-Toledo International, Inc. (a) 261 194,513 
Waters Corp. (a) 789 168,483 
  855,084 
Pharmaceuticals - 5.3%   
Bristol-Myers Squibb Co. 17,080 793,024 
Jazz Pharmaceuticals PLC (a) 637 82,663 
Johnson & Johnson 28,036 3,958,683 
Merck & Co., Inc. 27,182 2,139,495 
Zoetis, Inc. Class A 5,029 512,153 
  7,486,018 
TOTAL HEALTH CARE  17,793,566 
INDUSTRIALS - 9.2%   
Aerospace & Defense - 0.4%   
Arconic, Inc. 4,527 97,240 
L3 Technologies, Inc. 818 178,798 
TransDigm Group, Inc. (a) 495 238,847 
  514,885 
Air Freight & Logistics - 0.7%   
C.H. Robinson Worldwide, Inc. 1,428 115,668 
Expeditors International of Washington, Inc. 1,795 142,559 
United Parcel Service, Inc. Class B 7,275 772,751 
  1,030,978 
Airlines - 0.1%   
Delta Air Lines, Inc. 1,787 104,164 
Southwest Airlines Co. 1,467 79,555 
  183,719 
Building Products - 0.6%   
A.O. Smith Corp. 1,488 78,224 
Allegion PLC 986 97,841 
Fortune Brands Home & Security, Inc. 1,465 77,323 
Johnson Controls International PLC 9,711 364,163 
Lennox International, Inc. 382 103,694 
Masco Corp. 3,202 125,070 
Owens Corning 1,134 58,140 
  904,455 
Commercial Services & Supplies - 0.5%   
Copart, Inc. (a) 2,191 147,498 
Waste Management, Inc. 4,468 479,595 
  627,093 
Electrical Equipment - 0.5%   
Acuity Brands, Inc. 417 61,020 
Eaton Corp. PLC 4,540 376,003 
Rockwell Automation, Inc. 1,256 226,972 
Sensata Technologies, Inc. PLC (a) 1,717 85,747 
  749,742 
Industrial Conglomerates - 1.1%   
3M Co. 6,088 1,153,737 
Roper Technologies, Inc. 1,083 389,555 
  1,543,292 
Machinery - 2.7%   
Caterpillar, Inc. 6,174 860,779 
Cummins, Inc. 1,600 266,064 
Deere & Co. 3,198 529,685 
Dover Corp. 1,523 149,315 
Flowserve Corp. 1,361 66,730 
Illinois Tool Works, Inc. 3,123 486,032 
Ingersoll-Rand PLC 2,571 315,230 
PACCAR, Inc. 3,661 262,384 
Parker Hannifin Corp. 1,392 252,063 
Pentair PLC 1,712 66,751 
Snap-On, Inc. 590 99,285 
Stanley Black & Decker, Inc. 1,586 232,508 
WABCO Holdings, Inc. (a) 543 71,915 
Xylem, Inc. 1,871 156,041 
  3,814,782 
Professional Services - 0.3%   
IHS Markit Ltd. (a) 4,107 235,167 
Manpower, Inc. 643 61,754 
Nielsen Holdings PLC 3,693 94,282 
Robert Half International, Inc. 1,263 78,420 
  469,623 
Road & Rail - 2.0%   
AMERCO 92 34,332 
CSX Corp. 8,401 668,972 
Kansas City Southern 1,058 130,282 
Norfolk Southern Corp. 2,853 582,069 
Union Pacific Corp. 7,707 1,364,447 
  2,780,102 
Trading Companies & Distributors - 0.3%   
Fastenal Co. 2,994 211,227 
United Rentals, Inc. (a) 843 118,796 
W.W. Grainger, Inc. 500 141,000 
  471,023 
TOTAL INDUSTRIALS  13,089,694 
INFORMATION TECHNOLOGY - 25.4%   
Communications Equipment - 2.1%   
Cisco Systems, Inc. 47,007 2,630,042 
CommScope Holding Co., Inc. (a) 2,003 49,634 
Motorola Solutions, Inc. 1,717 248,810 
  2,928,486 
Electronic Equipment & Components - 0.8%   
Corning, Inc. 8,402 267,604 
Dell Technologies, Inc. (a) 1,612 108,665 
Flextronics International Ltd. (a) 5,479 60,488 
Keysight Technologies, Inc. (a) 1,948 169,534 
TE Connectivity Ltd. 3,598 344,149 
Trimble, Inc. (a) 2,622 107,030 
  1,057,470 
IT Services - 6.1%   
Accenture PLC Class A 6,674 1,219,140 
Cognizant Technology Solutions Corp. Class A 6,068 442,721 
IBM Corp. 9,505 1,333,266 
Jack Henry & Associates, Inc. 806 120,142 
MasterCard, Inc. Class A 9,607 2,442,484 
The Western Union Co. 4,638 90,163 
Visa, Inc. Class A 18,397 3,025,019 
  8,672,935 
Semiconductors & Semiconductor Equipment - 4.4%   
Analog Devices, Inc. 3,873 450,198 
Applied Materials, Inc. 10,290 453,480 
Intel Corp. 47,712 2,435,220 
Lam Research Corp. 1,625 337,074 
Marvell Technology Group Ltd. 6,566 164,281 
NVIDIA Corp. 6,061 1,097,041 
Skyworks Solutions, Inc. 1,863 164,279 
Texas Instruments, Inc. 10,038 1,182,778 
  6,284,351 
Software - 11.5%   
Adobe, Inc. (a) 5,107 1,477,200 
Autodesk, Inc. (a) 2,295 408,992 
Cadence Design Systems, Inc. (a) 2,923 202,798 
Citrix Systems, Inc. 1,406 141,950 
Intuit, Inc. 2,581 647,986 
Microsoft Corp. 76,244 9,957,469 
Oracle Corp. 27,732 1,534,412 
Salesforce.com, Inc. (a) 8,007 1,323,957 
Symantec Corp. 6,629 160,488 
VMware, Inc. Class A 853 174,123 
Workday, Inc. Class A (a) 1,562 321,194 
  16,350,569 
Technology Hardware, Storage & Peripherals - 0.5%   
Hewlett Packard Enterprise Co. 15,320 242,209 
HP, Inc. 16,612 331,409 
Xerox Corp. 2,232 74,460 
  648,078 
TOTAL INFORMATION TECHNOLOGY  35,941,889 
MATERIALS - 3.2%   
Chemicals - 2.5%   
Air Products & Chemicals, Inc. 2,297 472,700 
Axalta Coating Systems Ltd. (a) 2,230 60,165 
Celanese Corp. Class A 1,396 150,614 
Ecolab, Inc. 2,717 500,145 
International Flavors & Fragrances, Inc. 887 122,220 
Linde PLC 5,761 1,038,478 
LyondellBasell Industries NV Class A 3,421 301,835 
PPG Industries, Inc. 2,514 295,395 
Sherwin-Williams Co. 883 401,615 
The Mosaic Co. 3,822 99,792 
  3,442,959 
Containers & Packaging - 0.4%   
Avery Dennison Corp. 909 100,581 
Ball Corp. 3,354 201,039 
International Paper Co. 4,049 189,534 
Sealed Air Corp. 1,630 75,991 
  567,145 
Metals & Mining - 0.3%   
Newmont Goldcorp Corp. 8,567 266,091 
Nucor Corp. 3,266 186,391 
  452,482 
TOTAL MATERIALS  4,462,586 
REAL ESTATE - 2.9%   
Equity Real Estate Investment Trusts (REITs) - 2.7%   
Alexandria Real Estate Equities, Inc. 1,117 159,050 
American Tower Corp. 4,605 899,357 
Boston Properties, Inc. 1,631 224,458 
Camden Property Trust (SBI) 963 96,926 
Duke Realty Corp. 3,717 115,673 
Equinix, Inc. 842 382,857 
Federal Realty Investment Trust (SBI) 768 102,797 
HCP, Inc. 4,881 145,356 
Host Hotels & Resorts, Inc. 7,726 148,648 
Iron Mountain, Inc. 2,868 93,153 
Liberty Property Trust (SBI) 1,570 77,935 
Prologis, Inc. 6,600 506,022 
SBA Communications Corp. Class A (a) 1,190 242,439 
The Macerich Co. 1,106 44,395 
UDR, Inc. 2,805 126,085 
Welltower, Inc. 3,948 294,244 
Weyerhaeuser Co. 7,793 208,852 
  3,868,247 
Real Estate Management & Development - 0.2%   
CBRE Group, Inc. (a) 3,365 175,216 
Jones Lang LaSalle, Inc. 477 73,730 
  248,946 
TOTAL REAL ESTATE  4,117,193 
UTILITIES - 3.1%   
Electric Utilities - 1.1%   
Alliant Energy Corp. 2,449 115,666 
Edison International 3,392 216,308 
Eversource Energy 3,299 236,406 
Pinnacle West Capital Corp. 1,164 110,894 
Southern Co. 10,758 572,541 
Xcel Energy, Inc. 5,408 305,552 
  1,557,367 
Independent Power and Renewable Electricity Producers - 0.1%   
The AES Corp. 6,905 118,214 
Multi-Utilities - 1.8%   
CenterPoint Energy, Inc. 5,212 161,572 
CMS Energy Corp. 2,957 164,261 
Consolidated Edison, Inc. 3,271 281,829 
Dominion Resources, Inc. 7,855 611,669 
DTE Energy Co. 1,907 239,729 
NiSource, Inc. 3,898 108,286 
Public Service Enterprise Group, Inc. 5,292 315,668 
Sempra Energy 2,863 366,321 
WEC Energy Group, Inc. 3,312 259,760 
  2,509,095 
Water Utilities - 0.1%   
American Water Works Co., Inc. 1,880 203,397 
TOTAL UTILITIES  4,388,073 
TOTAL COMMON STOCKS   
(Cost $128,300,239)  141,052,339 
 Principal Amount Value 
U.S. Treasury Obligations - 0.0%   
U.S. Treasury Bills, yield at date of purchase 2.41% 9/12/19 (c)   
(Cost $29,734) 30,000 29,735 
 Shares Value 
Money Market Funds - 1.0%   
Fidelity Cash Central Fund, 2.49% (d) 1,116,905 $1,117,128 
Fidelity Securities Lending Cash Central Fund 2.49% (d)(e) 349,707 349,742 
TOTAL MONEY MARKET FUNDS   
(Cost $1,466,870)  1,466,870 
TOTAL INVESTMENT IN SECURITIES - 100.6%   
(Cost $129,796,843)  142,548,944 
NET OTHER ASSETS (LIABILITIES) - (0.6)%  (899,796) 
NET ASSETS - 100%  $141,649,148 

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) 3 June 2019 $442,275 $23,819 $23,819 

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 $29,735.

 (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 $9,651 
Fidelity Securities Lending Cash Central Fund 1,013 
Total $10,664 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $15,607,386 $15,607,386 $-- $-- 
Consumer Discretionary 12,521,394 12,521,394 -- -- 
Consumer Staples 10,376,019 10,376,019 -- -- 
Energy 5,888,077 5,888,077 -- -- 
Financials 16,866,462 16,866,462 -- -- 
Health Care 17,793,566 17,793,566 -- -- 
Industrials 13,089,694 13,089,694 -- -- 
Information Technology 35,941,889 35,941,889 -- -- 
Materials 4,462,586 4,462,586 -- -- 
Real Estate 4,117,193 4,117,193 -- -- 
Utilities 4,388,073 4,388,073 -- -- 
U.S. Government and Government Agency Obligations 29,735 -- 29,735 -- 
Money Market Funds 1,466,870 1,466,870 -- -- 
Total Investments in Securities: $142,548,944 $142,519,209 $29,735 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $23,819 $23,819 $-- $-- 
Total Assets $23,819 $23,819 $-- $-- 
Total Derivative Instruments: $23,819 $23,819 $-- $-- 

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, 2019. 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) $23,819 $0 
Total Equity Risk 23,819 0 
Total Value of Derivatives $23,819 $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 distributable earnings.

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


Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $338,961) — See accompanying schedule:
Unaffiliated issuers (cost $128,329,973) 		$141,082,074  
Fidelity Central Funds (cost $1,466,870) 1,466,870  
Total Investment in Securities (cost $129,796,843)  $142,548,944 
Receivable for fund shares sold  847,137 
Dividends receivable  146,029 
Distributions receivable from Fidelity Central Funds  2,451 
Receivable for daily variation margin on futures contracts  1,174 
Total assets  143,545,735 
Liabilities   
Payable for investments purchased $1,360,085  
Payable for fund shares redeemed 174,514  
Accrued management fee 8,893  
Other affiliated payables 3,335  
Collateral on securities loaned 349,760  
Total liabilities  1,896,587 
Net Assets  $141,649,148 
Net Assets consist of:   
Paid in capital  $128,849,621 
Total distributable earnings (loss)  12,799,527 
Net Assets  $141,649,148 
Net Asset Value and Maximum Offering Price   
Net Asset Value, offering price and redemption price per share ($141,649,148 ÷ 11,252,337 shares)  $12.59 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $984,625 
Interest  186 
Income from Fidelity Central Funds  10,664 
Total income  995,475 
Expenses   
Management fee $38,896  
Transfer agent fees 14,586  
Independent trustees' fees and expenses 181  
Commitment fees 124  
Total expenses before reductions 53,787  
Expense reductions (67)  
Total expenses after reductions  53,720 
Net investment income (loss)  941,755 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (376,332)  
Fidelity Central Funds 3  
Futures contracts (4,878)  
Total net realized gain (loss)  (381,207) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 12,372,284  
Futures contracts 11,638  
Total change in net unrealized appreciation (depreciation)  12,383,922 
Net gain (loss)  12,002,715 
Net increase (decrease) in net assets resulting from operations  $12,944,470 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $941,755 $786,814 
Net realized gain (loss) (381,207) (64,431) 
Change in net unrealized appreciation (depreciation) 12,383,922 (394,740) 
Net increase (decrease) in net assets resulting from operations 12,944,470 327,643 
Distributions to shareholders (1,116,687) (166,474) 
Share transactions - net increase (decrease) 61,486,560 50,677,146 
Total increase (decrease) in net assets 73,314,343 50,838,315 
Net Assets   
Beginning of period 68,334,805 17,496,490 
End of period $141,649,148 $68,334,805 

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


Financial Highlights

Fidelity U.S. Sustainability Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2019 2018 2017 A 
Selected Per–Share Data    
Net asset value, beginning of period $11.43 $10.90 $10.00 
Income from Investment Operations    
Net investment income (loss)B .11 .21 .09 
Net realized and unrealized gain (loss) 1.22 .41C .81 
Total from investment operations 1.33 .62 .90 
Distributions from net investment income (.15) (.08) – 
Distributions from net realized gain (.02) (.01) – 
Total distributions (.17) (.09) – 
Net asset value, end of period $12.59 $11.43 $10.90 
Total ReturnD,E 11.82% 5.67% 9.00% 
Ratios to Average Net AssetsF,G    
Expenses before reductions .11%H .11% .11%H 
Expenses net of fee waivers, if any .11%H .11% .11%H 
Expenses net of all reductions .11%H .11% .11%H 
Net investment income (loss) 1.97%H 1.82% 1.86%H 
Supplemental Data    
Net assets, end of period (000 omitted) $141,649 $6,125 $558 
Portfolio turnover rateI 12%H 15% 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 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, 2019

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.

Effective after the close of business November 9, 2018, the Fund's publicly offered shares classes, were consolidated into a single share class. The surviving class is Fidelity U.S. Sustainability Index Fund (formerly Institutional Class). All current fiscal period dollar and share amounts for the classes that closed, which are presented in the Notes to Financial Statements, are for the period November 1, 2018 through November 9, 2018.

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. 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, 2019, is included at the end of the Fund's Schedule of Investments.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. 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, 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 $15,917,421 
Gross unrealized depreciation (3,713,409) 
Net unrealized appreciation (depreciation) $12,204,012 
Tax cost $130,368,751 

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 $67,655,462 and $6,013,978, 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 .11% of each class' average net assets on an annual basis 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 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 Fidelity U.S. Sustainability Index Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. Under the expense contract, each Class pays a portion of the transfer agent fees at an annual rate of .03% of class-level average net assets.

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

 Amount 
Investor Class $ 114 
Premium Class 428 
Fidelity U.S. Sustainability Index Fund 14,044 
 $ 14,586 

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 $124 and is reflected in Commitment fees 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. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $1,013. During the period, there were no 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 expenses. During the period, these credits reduced the Fund's expenses by $67.

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2019 		Year ended
October 31, 2018 
Distributions to shareholders   
Investor Class $– $30,652 
Premium Class – 131,284 
Fidelity U.S. Sustainability Index Fund 1,116,687 4,538 
Total $1,116,687 $166,474 

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, 2019 Year ended October 31, 2018 Six months ended April 30, 2019 Year ended October 31, 2018 
Investor Class     
Shares sold 52,131 2,070,468 $605,676 $24,029,375 
Reinvestment of distributions – 2,706 – 30,067 
Shares redeemed (1,190,190) (1,230,207) (14,026,768) (14,115,014) 
Net increase (decrease) (1,138,059) 842,967 $(13,421,092) $9,944,428 
Premium Class     
Shares sold 163,334 3,858,697 $1,886,350 $44,544,353 
Reinvestment of distributions – 11,366 – 126,165 
Shares redeemed (4,469,837) (823,359) (52,703,290) (9,524,016) 
Net increase (decrease) (4,306,503) 3,046,704 $(50,816,940) $35,146,502 
Fidelity U.S. Sustainability Index Fund     
Shares sold 11,504,192 524,953 $134,845,495 $6,053,807 
Reinvestment of distributions 91,681 311 1,022,239 3,452 
Shares redeemed (879,425) (40,613) (10,143,142) (471,043) 
Net increase (decrease) 10,716,448 484,651 $125,724,592 $5,586,216 

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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Fidelity U.S. Sustainability Index Fund .11%    
Actual  $1,000.00 $1,118.20 $.58 
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 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

USY-SANN-0619
1.9883816.101

Fidelity® International Sustainability Index Fund



Semi-Annual Report

April 30, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 2.5 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail) 2.1 
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan, Semiconductors & Semiconductor Equipment) 1.8 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 1.6 
Total SA (France, Oil, Gas & Consumable Fuels) 1.2 
SAP SE (Germany, Software) 1.1 
Naspers Ltd. Class N (South Africa, Internet & Direct Marketing Retail) 1.0 
The Toronto-Dominion Bank (Canada, Banks) 0.9 
Allianz SE (Germany, Insurance) 0.9 
GlaxoSmithKline PLC (United Kingdom, Pharmaceuticals) 0.9 
 14.0 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 21.9 
Consumer Discretionary 11.6 
Industrials 10.9 
Information Technology 10.0 
Consumer Staples 8.2 
Health Care 7.2 
Communication Services 7.2 
Materials 7.0 
Energy 5.0 
Utilities 3.1 

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Japan 14.6% 
   United Kingdom 7.3% 
   Canada 7.2% 
   Germany 6.6% 
   France 6.5% 
   Australia 6.0% 
   Cayman Islands 5.9% 
   United States of America* 4.7% 
   Switzerland 4.6% 
   Other 36.6% 


 * 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.

Asset Allocation as of April 30, 2019

 % of fund's net assets 
Stocks and Equity Futures 99.8 
Short-Term Investments and Net Other Assets (Liabilities) 0.2 

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.7%   
 Shares Value 
Australia - 6.0%   
AGL Energy Ltd. 3,063 $48,000 
Amcor Ltd. 5,381 60,807 
AMP Ltd. 14,614 23,386 
APA Group unit 5,606 38,018 
ASX Ltd. 907 47,635 
Aurizon Holdings Ltd. 9,727 32,640 
Australia & New Zealand Banking Group Ltd. 13,514 259,126 
Bendigo & Adelaide Bank Ltd. 2,217 16,098 
BlueScope Steel Ltd. 2,632 24,956 
Boral Ltd. 5,928 20,268 
Brambles Ltd. 7,610 64,644 
Caltex Australia Ltd. 1,349 25,876 
Coca-Cola Amatil Ltd. 2,268 14,070 
Cochlear Ltd. 279 36,844 
Commonwealth Bank of Australia 8,338 438,019 
Computershare Ltd. 2,207 27,740 
CSL Ltd. 2,149 300,821 
DEXUS Property Group unit 4,813 42,412 
Flight Centre Travel Group Ltd. 260 7,038 
Fortescue Metals Group Ltd. 7,397 37,284 
Goodman Group unit 7,683 71,276 
Harvey Norman Holdings Ltd. 3,105 9,128 
Insurance Australia Group Ltd. 10,870 60,383 
Lendlease Group unit 2,704 25,352 
Macquarie Group Ltd. 1,532 145,474 
Mirvac Group unit 17,560 35,032 
National Australia Bank Ltd. 12,838 229,223 
Newcrest Mining Ltd. 3,613 63,700 
Orica Ltd. 1,745 22,881 
Origin Energy Ltd. 8,534 44,338 
Ramsay Health Care Ltd. 704 32,417 
Scentre Group unit 24,885 67,013 
SEEK Ltd. 1,463 18,781 
SP AusNet 6,680 8,359 
Stockland Corp. Ltd. unit 10,911 28,998 
Sydney Airport unit 5,575 29,947 
Telstra Corp. Ltd. 19,596 46,692 
The GPT Group unit 8,823 35,639 
Transurban Group unit 12,488 118,318 
Wesfarmers Ltd. 5,319 135,024 
Westpac Banking Corp. 16,177 314,261 
Woodside Petroleum Ltd. 4,412 110,071 
TOTAL AUSTRALIA  3,217,989 
Austria - 0.1%   
OMV AG 680 36,418 
Voestalpine AG 504 16,184 
TOTAL AUSTRIA  52,602 
Bailiwick of Jersey - 0.3%   
Ferguson PLC 1,107 78,528 
Polymetal International PLC 831 8,719 
WPP PLC 5,927 73,956 
TOTAL BAILIWICK OF JERSEY  161,203 
Belgium - 0.5%   
Colruyt NV 290 20,901 
KBC Groep NV 1,192 88,265 
Solvay SA Class A 351 42,183 
UCB SA 646 51,240 
Umicore SA 1,017 39,353 
TOTAL BELGIUM  241,942 
Bermuda - 0.1%   
Alibaba Pictures Group Ltd. (a) 60,000 13,461 
Beijing Enterprises Water Group Ltd. 26,000 16,141 
Brilliance China Automotive Holdings Ltd. 14,000 15,401 
GOME Electrical Appliances Holdings Ltd. (a) 60,000 6,884 
HengTen Networks Group Ltd. (a) 80,000 2,295 
Shangri-La Asia Ltd. 6,000 8,505 
Sihuan Pharmaceutical Holdings Group Ltd. 18,000 4,841 
Yue Yuen Industrial (Holdings) Ltd. 4,000 12,926 
TOTAL BERMUDA  80,454 
Brazil - 0.6%   
Atacadao Distribuicao Comercio e Industria Ltda 1,500 8,110 
BM&F BOVESPA SA 9,600 84,344 
BR Malls Participacoes SA 3,800 11,920 
Cielo SA 5,100 9,989 
Cosan SA Industria e Comercio 900 10,758 
ENGIE Brasil Energia SA 1,050 11,914 
Klabin SA unit 2,800 11,854 
Kroton Educacional SA 7,100 17,654 
Localiza Rent A Car SA 2,600 24,003 
Lojas Renner SA 3,300 39,454 
M. Dias Branco SA 400 4,243 
Multiplan Empreendimentos Imobiliarios SA 1,400 8,555 
Natura Cosmeticos SA 900 11,991 
TIM Participacoes SA 3,900 11,627 
Ultrapar Participacoes SA 3,500 18,745 
Weg SA 4,040 19,143 
TOTAL BRAZIL  304,304 
Canada - 6.9%   
Agnico Eagle Mines Ltd. (Canada) 1,101 45,595 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 2,090 123,228 
AltaGas Ltd. 1,210 16,086 
ARC Resources Ltd. 1,619 10,284 
Bank of Montreal 3,073 242,730 
Bank of Nova Scotia 5,865 322,997 
BlackBerry Ltd. (a) 2,702 24,787 
CAE, Inc. 1,373 31,935 
Canadian Imperial Bank of Commerce 2,152 181,210 
Canadian National Railway Co. 3,459 321,294 
Canadian Tire Ltd. Class A (non-vtg.) 303 33,351 
Cenovus Energy, Inc. (Canada) 5,121 50,763 
CGI Group, Inc. Class A (sub. vtg.) (a) 1,213 87,310 
Emera, Inc. 299 11,228 
Empire Co. Ltd. Class A (non-vtg.) 822 18,284 
Enbridge, Inc. 9,585 354,081 
Encana Corp. (Toronto) 7,070 48,973 
First Capital Realty, Inc. 1,036 16,510 
Fortis, Inc. 2,083 76,995 
Franco-Nevada Corp. 905 64,844 
Gildan Activewear, Inc. 1,026 37,833 
Hydro One Ltd. (b) 1,536 24,857 
Loblaw Companies Ltd. 907 44,433 
Lundin Mining Corp. 3,413 18,317 
Magna International, Inc. Class A (sub. vtg.) 1,531 85,218 
Metro, Inc. Class A (sub. vtg.) 1,204 43,587 
Nutrien Ltd. 2,918 158,261 
Open Text Corp. 1,342 51,588 
PrairieSky Royalty Ltd. 1,150 16,576 
Rogers Communications, Inc. Class B (non-vtg.) 1,772 89,215 
Sun Life Financial, Inc. 2,937 122,022 
Suncor Energy, Inc. 7,643 252,047 
Teck Resources Ltd. Class B (sub. vtg.) 2,487 58,810 
The Toronto-Dominion Bank 8,729 497,925 
Vermilion Energy, Inc. 779 19,892 
Wheaton Precious Metals Corp. 2,150 46,508 
WSP Global, Inc. 554 29,914 
TOTAL CANADA  3,679,488 
Cayman Islands - 5.9%   
3SBio, Inc. (b) 6,000 11,090 
51job, Inc. sponsored ADR (a) 131 12,097 
AAC Technology Holdings, Inc. 3,500 22,737 
Alibaba Group Holding Ltd. sponsored ADR (a) 6,122 1,136,060 
Anta Sports Products Ltd. 5,000 35,246 
ASM Pacific Technology Ltd. 1,600 18,529 
Baozun, Inc. sponsored ADR (a) 159 7,712 
Car, Inc. (a) 5,000 4,047 
Chailease Holding Co. Ltd. 6,080 25,873 
China Conch Venture Holdings Ltd. 8,000 27,024 
China First Capital Group Ltd. (a) 12,000 5,048 
China Medical System Holdings Ltd. 8,000 7,088 
China Mengniu Dairy Co. Ltd. 13,000 48,057 
Country Garden Services Holdings Co. Ltd. 5,000 9,242 
Ctrip.com International Ltd. ADR (a) 1,964 86,514 
ENN Energy Holdings Ltd. 3,800 35,894 
Fullshare Holdings Ltd. 25,000 2,804 
Geely Automobile Holdings Ltd. 24,000 48,154 
Genscript Biotech Corp. (a) 4,000 10,198 
Greentown Service Group Co. Ltd. 6,000 5,178 
Jiayuan International Group Ltd. 4,000 1,790 
Lee & Man Paper Manufacturing Ltd. 5,000 4,054 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 673 64,245 
Shenzhou International Group Holdings Ltd. 3,400 45,638 
Shui On Land Ltd. 14,000 3,409 
Sino Biopharmaceutical Ltd. 33,500 32,198 
SOHO China Ltd. 6,500 2,353 
Tencent Holdings Ltd. 27,000 1,330,771 
Towngas China Co. Ltd. 4,080 3,245 
Vipshop Holdings Ltd. ADR (a) 1,997 17,194 
Wharf Real Estate Investment Co. Ltd. 6,000 45,967 
Wuxi Biologics (Cayman), Inc. (a)(b) 2,500 25,144 
Yuzhou Properties Co. 6,245 3,296 
Zhongsheng Group Holdings Ltd. Class H 3,000 7,878 
TOTAL CAYMAN ISLANDS  3,145,774 
Chile - 0.2%   
Aguas Andinas SA 10,132 5,834 
Compania de Petroleos de Chile SA (COPEC) 1,939 24,334 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 826 8,650 
Empresas CMPC SA 5,786 19,476 
Enersis SA 143,556 25,191 
LATAM Airlines Group SA 1,375 13,636 
S.A.C.I. Falabella 3,128 23,091 
TOTAL CHILE  120,212 
China - 1.5%   
Air China Ltd. (H Shares) 10,000 11,919 
Baic Motor Corp. Ltd. (H Shares) (b) 7,000 4,908 
BBMG Corp. (H Shares) 10,000 3,518 
BYD Co. Ltd. (H Shares) 3,000 20,421 
China CITIC Bank Corp. Ltd. (H Shares) 44,000 28,212 
China Construction Bank Corp. (H Shares) 452,000 398,468 
China Eastern Airlines Corp. Ltd. (H Shares) 6,000 4,260 
China Everbright Bank Co. Ltd. (H Shares) 8,000 3,947 
China Longyuan Power Grid Corp. Ltd. (H Shares) 14,000 9,637 
China Merchants Bank Co. Ltd. (H Shares) 18,500 91,557 
China Minsheng Banking Corp. Ltd. (H Shares) 28,500 21,398 
China Molybdenum Co. Ltd. (H Shares) 24,000 9,025 
China Shenhua Energy Co. Ltd. (H Shares) 16,000 35,366 
China Vanke Co. Ltd. (H Shares) 6,100 23,600 
Dongfeng Motor Group Co. Ltd. (H Shares) 12,000 11,641 
Guangzhou Automobile Group Co. Ltd. (H Shares) 15,200 16,334 
Huaneng Renewables Corp. Ltd. (H Shares) 26,000 7,490 
Inner Mongolia Yitai Coal Co. Ltd. (B Shares) 3,800 4,549 
Jiangsu Expressway Co. Ltd. (H Shares) 4,000 5,690 
Shandong Weigao Medical Polymer Co. Ltd. (H Shares) 12,000 11,779 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 3,500 12,024 
Shanghai Pharmaceuticals Holding Co. Ltd. (H Shares) 5,300 11,093 
Sinopharm Group Co. Ltd. (H Shares) 6,000 23,557 
Sinotrans Ltd. (H Shares) 7,000 2,873 
Tong Ren Tang Technologies Co. Ltd. (H Shares) 3,000 4,161 
Xinjiang Goldwind Science & Technology Co. Ltd. (H Shares) 5,218 5,694 
Zhejiang Expressway Co. Ltd. (H Shares) 8,000 8,576 
TOTAL CHINA  791,697 
Colombia - 0.0%   
Cementos Argos SA 1,977 4,934 
Interconexion Electrica SA ESP 2,183 10,681 
Inversiones Argos SA 1,553 8,838 
TOTAL COLOMBIA  24,453 
Czech Republic - 0.1%   
Ceske Energeticke Zavody A/S 649 15,093 
Komercni Banka A/S 349 13,224 
TOTAL CZECH REPUBLIC  28,317 
Denmark - 1.6%   
Christian Hansen Holding A/S 470 47,944 
Coloplast A/S Series B 544 58,696 
DONG Energy A/S (b) 884 67,678 
Genmab A/S (a) 304 50,466 
H Lundbeck A/S 323 13,587 
ISS Holdings A/S 792 24,630 
Novo Nordisk A/S Series B 8,645 423,558 
Novozymes A/S Series B 1,039 48,420 
Pandora A/S 548 22,986 
Tryg A/S 574 17,540 
Vestas Wind Systems A/S 907 82,030 
William Demant Holding A/S (a) 445 14,039 
TOTAL DENMARK  871,574 
Egypt - 0.1%   
Commercial International Bank SAE (a) 3,743 16,753 
Commercial International Bank SAE sponsored GDR 2,421 10,592 
TOTAL EGYPT  27,345 
Finland - 0.9%   
Metso Corp. 479 17,842 
Neste Oyj 1,803 59,535 
Nokia Corp. 26,626 139,909 
Nokian Tyres PLC 584 19,533 
Nordea Bank ABP (Stockholm Stock Exchange) 14,291 112,432 
Orion Oyj (B Shares) 535 17,780 
Stora Enso Oyj (R Shares) 2,643 32,801 
UPM-Kymmene Corp. 2,566 72,267 
Wartsila Corp. 2,091 33,350 
TOTAL FINLAND  505,449 
France - 6.5%   
Accor SA 864 36,398 
Air Liquide SA 2,004 266,596 
Atos Origin SA 454 46,735 
AXA SA 9,124 243,305 
BIC SA 120 10,343 
Bouygues SA 1,029 38,709 
Capgemini SA 756 91,661 
Carrefour SA 2,706 52,719 
Casino Guichard Perrachon SA 297 12,159 
CNP Assurances 734 17,321 
Compagnie de St. Gobain 2,346 96,186 
Credit Agricole SA 5,440 74,621 
Danone SA 2,893 233,979 
Eiffage SA 372 38,845 
Essilor International SA 1,356 165,213 
Eurazeo SA 202 15,848 
Gecina SA 214 31,947 
Groupe Eurotunnel SA 2,090 33,638 
Imerys SA 208 11,077 
Ingenico SA 292 24,615 
Ipsen SA 186 21,717 
JCDecaux SA 361 11,823 
Kering SA 357 211,017 
L'Oreal SA 1,182 324,937 
Michelin CGDE Series B 802 103,707 
Natixis SA 4,755 27,989 
Orange SA 9,348 146,096 
Renault SA 912 62,213 
Rexel SA 1,337 17,965 
Schneider Electric SA 2,601 220,138 
Total SA 11,367 631,900 
Vivendi SA 4,928 143,039 
Wendel SA 122 16,885 
TOTAL FRANCE  3,481,341 
Germany - 6.3%   
adidas AG 852 218,929 
Allianz SE 2,003 484,153 
BASF AG 4,336 353,995 
Bayerische Motoren Werke AG (BMW) 1,517 129,141 
Beiersdorf AG 475 51,912 
Commerzbank AG 4,806 43,188 
Deutsche Borse AG 902 120,527 
Deutsche Post AG 4,684 162,818 
Deutsche Wohnen AG (Bearer) 1,695 76,178 
E.ON AG 10,441 112,259 
Evonik Industries AG 840 25,023 
Fraport AG Frankfurt Airport Services Worldwide 186 15,404 
HeidelbergCement Finance AG 702 56,690 
Henkel AG & Co. KGaA 542 51,642 
Merck KGaA 637 67,788 
Metro Wholesale & Food Specialist AG 839 14,209 
Muenchener Rueckversicherungs AG 708 177,083 
OSRAM Licht AG 490 16,757 
ProSiebenSat.1 Media AG 1,141 18,038 
RWE AG 2,444 62,417 
SAP SE 4,637 597,748 
Siemens AG 3,611 432,967 
Symrise AG 580 55,750 
Telefonica Deutschland Holding AG 3,285 10,670 
TOTAL GERMANY  3,355,286 
Greece - 0.0%   
Hellenic Telecommunications Organization SA 1,124 15,607 
Titan Cement Co. SA (Reg.) 166 3,605 
TOTAL GREECE  19,212 
Hong Kong - 1.8%   
BOC Hong Kong (Holdings) Ltd. 17,500 78,300 
BYD Electronic International Co. Ltd. 2,500 4,468 
China Agri-Industries Holdings Ltd. 8,000 2,580 
China Everbright International Ltd. 13,962 13,669 
China Overseas Land and Investment Ltd. 18,000 67,344 
China Resources Pharmaceutical Group Ltd. (b) 9,000 12,803 
China Travel International Investment HK Ltd. 8,000 1,846 
CLP Holdings Ltd. 7,500 85,040 
CSPC Pharmaceutical Group Ltd. 22,000 42,403 
Fosun International Ltd. 11,000 17,051 
Hang Lung Properties Ltd. 9,000 21,155 
Hang Seng Bank Ltd. 3,500 91,908 
Hong Kong & China Gas Co. Ltd. 43,240 103,225 
Hong Kong Exchanges and Clearing Ltd. 5,619 194,826 
Hysan Development Co. Ltd. 3,000 16,788 
Lenovo Group Ltd. 36,000 33,362 
MTR Corp. Ltd. 7,039 41,903 
Shenzhen Investment Ltd. 12,000 4,773 
Swire Pacific Ltd. (A Shares) 2,500 31,645 
Swire Properties Ltd. 5,800 23,548 
Techtronic Industries Co. Ltd. 6,500 46,980 
TOTAL HONG KONG  935,617 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 1,563 17,945 
OTP Bank PLC 1,068 47,333 
TOTAL HUNGARY  65,278 
India - 2.4%   
Ashok Leyland Ltd. 4,195 5,237 
Asian Paints Ltd. 1,285 26,995 
Axis Bank Ltd. (a) 9,042 99,557 
Bajaj Auto Ltd. 375 16,067 
Bharat Petroleum Corp. Ltd. 3,214 17,529 
Bharti Airtel Ltd. 6,764 31,107 
Bharti Airtel Ltd. rights 5/17/19 (a) 1,918 2,762 
Bharti Infratel Ltd. 1,263 4,761 
Britannia Industries Ltd. 324 13,473 
Dabur India Ltd. 2,186 12,495 
Eicher Motors Ltd. 69 20,179 
Glenmark Pharmaceuticals Ltd. 741 6,792 
HCL Technologies Ltd. 2,583 43,887 
Hero Motocorp Ltd. 254 9,161 
Hindalco Industries Ltd. 4,630 13,698 
Hindustan Petroleum Corp. Ltd. 2,836 11,860 
Hindustan Unilever Ltd. 3,028 76,418 
Housing Development Finance Corp. Ltd. 7,715 220,997 
ICICI Bank Ltd. 11,407 66,397 
Infosys Ltd. 16,518 177,677 
Lupin Ltd. (a) 1,174 14,700 
Mahindra & Mahindra Financial Services Ltd. 1,101 6,334 
Mahindra & Mahindra Ltd. 3,524 32,651 
Marico Ltd. 2,184 11,270 
Nestle India Ltd. 99 15,501 
Petronet LNG Ltd. 3,039 10,522 
Pidilite Industries Ltd. 588 10,423 
Piramal Enterprises Ltd. 429 14,549 
Tata Consultancy Services Ltd. 4,259 138,223 
Tech Mahindra Ltd. (a) 2,320 27,851 
Titan Co. Ltd. 1,609 26,765 
UPL Ltd. (a) 1,823 25,367 
Vodafone Idea Ltd. (a) 22,269 4,940 
Wipro Ltd. 6,693 28,724 
Yes Bank Ltd. 8,559 20,646 
Zee Entertainment Enterprises Ltd. 2,128 13,218 
TOTAL INDIA  1,278,733 
Indonesia - 0.9%   
PT Adaro Energy Tbk 82,500 7,555 
PT Astra International Tbk 95,300 50,994 
PT Bank Central Asia Tbk 45,300 91,395 
PT Bank Mandiri (Persero) Tbk 88,300 48,106 
PT Bank Negara Indonesia (Persero) Tbk 34,200 23,040 
PT Bank Rakyat Indonesia Tbk 262,200 80,408 
PT Indah Kiat Pulp & Paper Tbk 13,200 6,855 
PT Indofood CBP Sukses Makmur Tbk 8,700 5,937 
PT Indofood Sukses Makmur Tbk 21,300 10,388 
PT Jasa Marga Tbk 8,300 3,553 
PT Kalbe Farma Tbk 103,300 11,200 
PT Pabrik Kertas Tjiwi Kimia Tbk 6,500 4,596 
PT Pakuwon Jati Tbk 71,900 3,608 
PT Perusahaan Gas Negara Tbk Series B 56,900 9,264 
PT Surya Citra Media Tbk 20,700 2,702 
PT Tambang Batubara Bukit Asam Tbk 17,000 4,724 
PT Telekomunikasi Indonesia Tbk Series B 234,800 62,524 
PT Unilever Indonesia Tbk 7,700 24,586 
PT United Tractors Tbk 7,400 14,112 
TOTAL INDONESIA  465,547 
Ireland - 0.5%   
CRH PLC 3,728 125,413 
DCC PLC (United Kingdom) 457 40,809 
Kerry Group PLC Class A 725 81,153 
TOTAL IRELAND  247,375 
Isle of Man - 0.0%   
NEPI Rockcastle PLC 1,750 14,586 
Israel - 0.2%   
Bank Hapoalim BM (Reg.) 4,735 34,809 
Bank Leumi le-Israel BM 7,009 47,942 
Mizrahi Tefahot Bank Ltd. 678 14,659 
TOTAL ISRAEL  97,410 
Italy - 0.7%   
Assicurazioni Generali SpA 5,393 104,644 
Intesa Sanpaolo SpA 70,425 184,515 
Recordati SpA 545 22,000 
Snam Rete Gas SpA 10,511 53,487 
TOTAL ITALY  364,646 
Japan - 14.6%   
AEON Co. Ltd. (c) 2,900 53,486 
AEON Financial Service Co. Ltd. 600 12,383 
AEON MALL Co. Ltd. 400 6,119 
Agc, Inc. (c) 900 30,580 
Ajinomoto Co., Inc. (c) 2,100 33,792 
All Nippon Airways Ltd. 500 17,451 
Amada Holdings Co. Ltd. 1,500 16,643 
Asahi Kasei Corp. 6,000 61,565 
Asics Corp. 700 8,578 
Astellas Pharma, Inc. (c) 9,100 123,249 
Benesse Holdings, Inc. 300 8,254 
Bridgestone Corp. (c) 2,800 110,748 
Casio Computer Co. Ltd. 900 11,319 
Central Japan Railway Co. 700 150,155 
Chugai Pharmaceutical Co. Ltd. 1,100 69,518 
CyberAgent, Inc. (d) 500 19,884 
Dai Nippon Printing Co. Ltd. (c) 1,100 26,000 
Daicel Chemical Industries Ltd. 1,200 13,379 
Daifuku Co. Ltd. 500 30,432 
Daikin Industries Ltd. 1,200 152,783 
Daiwa House Industry Co. Ltd. (c) 2,700 75,405 
DENSO Corp. (c) 2,000 87,131 
Dentsu, Inc. 1,000 40,711 
East Japan Railway Co. 1,400 131,523 
Eisai Co. Ltd. 1,200 69,526 
Fast Retailing Co. Ltd. 300 173,060 
Fujitsu Ltd. 900 65,726 
Hino Motors Ltd. (d) 1,100 10,349 
Hirose Electric Co. Ltd. 200 23,089 
Hitachi Chemical Co. Ltd. (c) 500 13,241 
Hitachi Construction Machinery Co. Ltd. (d) 500 13,241 
Hitachi High-Technologies Corp. 300 13,331 
Hitachi Metals Ltd. 1,000 11,500 
Honda Motor Co. Ltd. (c) 7,600 212,062 
Hulic Co. Ltd. 1,300 11,180 
Idemitsu Kosan Co. Ltd. (d) 10 324 
INPEX Corp. 4,800 46,580 
J. Front Retailing Co. Ltd. (c) 1,200 14,597 
Japan Retail Fund Investment Corp. (c) 13 24,857 
JFE Holdings, Inc. 2,300 39,333 
Kajima Corp. 2,200 32,488 
Kaneka Corp. 200 7,684 
Kansai Paint Co. Ltd. 800 15,189 
Kao Corp. 2,300 176,678 
Kawasaki Heavy Industries Ltd. (c) 700 16,250 
KDDI Corp. (c) 8,400 193,599 
Keio Corp. 500 30,073 
Keyence Corp. (c) 500 310,247 
Kikkoman Corp. 700 32,425 
Kobayashi Pharmaceutical Co. Ltd. 200 15,907 
Kobe Steel Ltd. (c) 1,500 11,432 
Komatsu Ltd. (c) 4,400 113,654 
Konica Minolta, Inc. (c) 2,200 22,001 
Kubota Corp. 4,600 69,499 
Kuraray Co. Ltd. 1,400 18,688 
Kurita Water Industries Ltd. (c) 500 12,954 
Kyocera Corp. 1,500 96,818 
Kyushu Railway Co. (c) 800 25,998 
Lawson, Inc. (c) 300 13,977 
Marui Group Co. Ltd. (c) 1,000 20,261 
Mazda Motor Corp. 2,700 31,885 
McDonald's Holdings Co. (Japan) Ltd. 300 13,870 
Mitsubishi Chemical Holdings Corp. 6,000 42,503 
Mitsubishi Electric Corp. (c) 8,600 122,135 
Mitsubishi Estate Co. Ltd. (c) 5,600 94,284 
Mitsubishi Materials Corp. (c) 500 12,945 
Mitsubishi UFJ Lease & Finance Co. Ltd. (c) 2,000 10,126 
Mitsui Chemicals, Inc. (c) 900 21,960 
Mitsui Fudosan Co. Ltd. 4,200 96,785 
Mitsui OSK Lines Ltd. 500 12,658 
Mizuho Financial Group, Inc. (c) 112,900 176,319 
Murata Manufacturing Co. Ltd. (c) 2,600 130,556 
Nabtesco Corp. 500 15,216 
Nagoya Railroad Co. Ltd. 800 21,617 
NEC Corp. 1,200 40,343 
NGK Insulators Ltd. (c) 1,300 19,186 
NGK Spark Plug Co. Ltd. 800 15,491 
Nikon Corp. 1,600 22,263 
Nintendo Co. Ltd. 500 172,208 
Nippon Express Co. Ltd. (d) 300 16,428 
Nippon Prologis REIT, Inc. (c) 8 17,164 
Nippon Yusen KK (c) 800 13,616 
Nitori Holdings Co. Ltd. 400 47,578 
Nitto Denko Corp. 800 43,018 
NKSJ Holdings, Inc. (c) 1,500 56,030 
Nomura Real Estate Holdings, Inc. 600 12,685 
Nomura Research Institute Ltd. 500 24,373 
NSK Ltd. 1,600 16,518 
NTT DOCOMO, Inc. (c) 6,300 136,808 
Obayashi Corp. (c) 3,100 30,306 
Odakyu Electric Railway Co. Ltd. 1,300 30,506 
OMRON Corp. 900 48,072 
Oriental Land Co. Ltd. 900 99,134 
Osaka Gas Co. Ltd. 1,700 31,361 
Otsuka Corp. 500 19,615 
Panasonic Corp. (c) 10,400 95,765 
Rakuten, Inc. (c) 4,100 45,455 
Recruit Holdings Co. Ltd. (c) 5,200 155,400 
Resona Holdings, Inc. 9,800 41,322 
Rinnai Corp. 200 13,430 
Secom Co. Ltd. 1,000 83,828 
Sekisui Chemical Co. Ltd. (c) 1,800 28,779 
Sekisui House Ltd. 3,000 48,261 
Seven & i Holdings Co. Ltd. (c) 3,600 124,586 
Sharp Corp. 900 9,986 
Shimadzu Corp. 1,000 26,698 
SHIMIZU Corp. (c) 2,700 23,002 
Shin-Etsu Chemical Co. Ltd. 1,700 161,032 
Shiseido Co. Ltd. 1,800 140,872 
Showa Denko K.K. (c) 700 23,659 
Sohgo Security Services Co., Ltd. 300 13,344 
Sony Corp. (c) 6,000 302,209 
Stanley Electric Co. Ltd. 600 16,213 
Sumitomo Chemical Co. Ltd. 7,100 35,183 
Sumitomo Electric Industries Ltd. (d) 3,400 45,005 
Sumitomo Heavy Industries Ltd. 500 17,617 
Sumitomo Metal Mining Co. Ltd. (c) 1,100 34,354 
Sumitomo Mitsui Trust Holdings, Inc. 1,500 52,337 
Sumitomo Rubber Industries Ltd. 800 9,817 
Suntory Beverage & Food Ltd. (c) 700 30,791 
Sysmex Corp. 800 45,618 
T&D Holdings, Inc. 2,700 29,001 
Taisei Corp. 1,000 43,763 
Takashimaya Co. Ltd. (c) 800 8,970 
Takeda Pharmaceutical Co. Ltd. (c) 7,000 258,312 
TDK Corp. 600 52,193 
Teijin Ltd. 800 13,695 
Tobu Railway Co. Ltd. (c) 900 25,369 
Toho Co. Ltd. (c) 600 25,073 
Toho Gas Co. Ltd. (c) 400 16,446 
Tokyo Electron Ltd. 700 110,880 
Tokyo Gas Co. Ltd. 1,800 45,681 
Tokyu Corp. 2,400 39,039 
Tokyu Fudosan Holdings Corp. (c) 3,100 17,421 
Toppan Printing Co. Ltd. (c) 1,200 19,401 
Toray Industries, Inc. 6,500 44,480 
Toto Ltd. (c) 700 29,472 
Toyo Suisan Kaisha Ltd. 400 15,207 
Toyoda Gosei Co. Ltd. 300 6,221 
Toyota Tsusho Corp. (c) 1,000 33,036 
Unicharm Corp. 1,900 62,239 
USS Co. Ltd. (c) 1,100 20,994 
West Japan Railway Co. (c) 800 59,335 
Yakult Honsha Co. Ltd. 600 40,666 
Yamada Denki Co. Ltd. 2,600 12,300 
Yamaha Corp. (c) 700 36,133 
Yamaha Motor Co. Ltd. (c) 1,300 26,701 
Yaskawa Electric Corp. (d) 1,100 40,437 
Yokogawa Electric Corp. (c) 1,100 22,890 
TOTAL JAPAN  7,764,386 
Korea (South) - 2.2%   
AMOREPACIFIC Corp. 149 26,625 
AMOREPACIFIC Group, Inc. 147 9,497 
BS Financial Group, Inc. 1,354 8,154 
CJ CheilJedang Corp. 39 10,554 
CJ Corp. 53 5,441 
Daelim Industrial Co. 161 13,389 
DGB Financial Group Co. Ltd. 615 4,449 
GS Engineering & Construction Corp. 248 8,650 
GS Holdings Corp. 248 11,079 
Hana Financial Group, Inc. 1,404 44,387 
Hankook Tire Co. Ltd. 342 11,679 
Hanon Systems 1,094 11,795 
Hanwha Chemical Corp. 552 9,769 
Hotel Shilla Co. 155 15,313 
Hyundai Engineering & Construction Co. Ltd. 405 18,267 
Hyundai Fire & Marine Insurance Co. Ltd. 318 10,450 
Industrial Bank of Korea 1,121 13,627 
KB Financial Group, Inc. 1,855 73,506 
Korea Gas Corp. (a) 90 3,568 
LG Chemical Ltd. 212 65,749 
LG Corp. 454 28,472 
LG Display Co. Ltd. 1,154 19,693 
LG Electronics, Inc. 528 34,383 
LG Household & Health Care Ltd. 44 53,752 
LG Innotek Co. Ltd. 79 8,314 
Lotte Chemical Corp. 83 19,145 
Lotte Confectionery Co. Ltd. (a) 116 4,888 
NAVER Corp. 652 66,936 
Oci Co. Ltd. 100 7,998 
S-Oil Corp. 221 17,505 
Samsung Card Co. Ltd. 131 4,175 
Samsung Electro-Mechanics Co. Ltd. 281 26,193 
Samsung Fire & Marine Insurance Co. Ltd. 151 39,436 
Samsung SDI Co. Ltd. 253 51,404 
Samsung SDS Co. Ltd. 168 31,319 
Shinhan Financial Group Co. Ltd. 1,997 75,745 
SK C&C Co. Ltd. 157 34,596 
SK Energy Co. Ltd. 299 46,879 
SK Hynix, Inc. 2,737 185,757 
SK Telecom Co. Ltd. 90 19,157 
Woongjin Coway Co. Ltd. 260 19,612 
Yuhan Corp. 54 11,389 
TOTAL KOREA (SOUTH)  1,182,696 
Luxembourg - 0.1%   
Millicom International Cellular SA (depository receipt) 324 18,951 
SES SA (France) (depositary receipt) 1,755 29,861 
Tenaris SA 2,236 30,995 
TOTAL LUXEMBOURG  79,807 
Malaysia - 0.7%   
Alliance Bank Malaysia Bhd 3,700 3,633 
AMMB Holdings Bhd 10,600 11,460 
Axiata Group Bhd 13,031 12,513 
Bumiputra-Commerce Holdings Bhd 21,617 27,554 
DiGi.com Bhd 12,900 14,352 
Hap Seng Consolidated Bhd 3,900 9,320 
Hartalega Holdings Bhd 5,800 7,056 
Hong Leong Bank Bhd 2,800 13,531 
IHH Healthcare Bhd 10,600 14,255 
IOI Properties Group Bhd 6,600 2,187 
Malayan Banking Bhd 16,340 36,557 
Malaysia Airports Holdings Bhd 4,700 8,674 
Maxis Bhd 10,300 13,353 
MISC Bhd 4,200 7,009 
Nestle (Malaysia) BHD 300 10,601 
Petronas Dagangan Bhd 800 4,679 
PPB Group Bhd 2,700 12,251 
Press Metal Bhd 5,100 5,859 
Public Bank Bhd 13,600 74,011 
RHB Capital Bhd 5,400 7,784 
Sime Darby Bhd 8,200 4,601 
Sime Darby Property Bhd 10,500 2,819 
SP Setia Bhd 5,585 3,066 
Telekom Malaysia Bhd 4,200 2,956 
Tenaga Nasional Bhd 14,600 43,364 
Top Glove Corp. Bhd 7,000 8,245 
Westports Holdings Bhd 4,700 4,320 
YTL Corp. Bhd 21,580 5,898 
TOTAL MALAYSIA  371,908 
Mexico - 0.5%   
Alfa SA de CV Series A 13,900 14,048 
Alsea S.A.B. de CV 2,100 4,695 
CEMEX S.A.B. de CV unit (a) 74,200 34,325 
Coca-Cola FEMSA S.A.B. de CV unit 2,400 15,309 
Embotelladoras Arca S.A.B. de CV 2,200 12,488 
Fomento Economico Mexicano S.A.B. de CV unit 9,200 89,745 
Gruma S.A.B. de CV Series B 1,000 9,995 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 1,025 16,883 
Grupo Bimbo S.A.B. de CV Series A 7,200 16,035 
Industrias Penoles SA de CV 745 8,550 
Infraestructura Energetica Nova S.A.B. de CV 2,600 11,365 
Kimberly-Clark de Mexico SA de CV Series A 7,100 12,273 
TOTAL MEXICO  245,711 
Netherlands - 4.0%   
AEGON NV 8,615 44,972 
Akzo Nobel NV 1,067 90,594 
ASML Holding NV (Netherlands) 1,935 402,677 
CNH Industrial NV 4,843 52,516 
EXOR NV 493 32,823 
ING Groep NV (Certificaten Van Aandelen) 18,437 235,257 
Koninklijke Ahold Delhaize NV 5,604 135,065 
Koninklijke DSM NV 861 98,474 
Koninklijke KPN NV 15,641 48,070 
Koninklijke Philips Electronics NV 4,385 188,308 
NN Group NV 1,470 64,005 
QIAGEN NV (Germany) (a) 1,137 43,907 
STMicroelectronics NV (France) 3,173 58,271 
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit 654 112,413 
Unilever NV (Certificaten Van Aandelen) (Bearer) 7,268 439,747 
Vopak NV 366 16,318 
Wolters Kluwer NV 1,317 91,849 
TOTAL NETHERLANDS  2,155,266 
New Zealand - 0.1%   
Auckland International Airport Ltd. 4,753 25,301 
Fletcher Building Ltd. 3,912 13,482 
Meridian Energy Ltd. 6,758 18,325 
Ryman Healthcare Group Ltd. 1,777 14,420 
TOTAL NEW ZEALAND  71,528 
Norway - 0.6%   
Aker Bp ASA 473 15,598 
Equinor ASA 5,480 122,241 
Marine Harvest ASA 2,101 45,515 
Norsk Hydro ASA 6,525 28,104 
Orkla ASA 4,096 32,113 
Schibsted ASA (B Shares) 441 10,550 
Telenor ASA 3,445 69,160 
TOTAL NORWAY  323,281 
Philippines - 0.4%   
Aboitiz Equity Ventures, Inc. 9,980 10,720 
Aboitiz Power Corp. 6,600 4,807 
Alliance Global Group, Inc. 13,100 3,786 
Ayala Land, Inc. 34,900 33,005 
Bank of the Philippine Islands (BPI) 4,852 7,954 
BDO Unibank, Inc. 10,210 26,432 
Globe Telecom, Inc. 110 3,783 
JG Summit Holdings, Inc. 13,100 16,704 
Manila Electric Co. 1,150 8,554 
Metropolitan Bank & Trust Co. 6,772 9,714 
Philippine Long Distance Telephone Co. 535 12,707 
SM Investments Corp. 1,050 19,272 
SM Prime Holdings, Inc. 48,700 39,000 
TOTAL PHILIPPINES  196,438 
Poland - 0.3%   
Bank Handlowy w Warszawie SA 127 2,067 
Bank Millennium SA (a) 3,216 8,117 
Bank Polska Kasa Opieki SA 768 22,850 
Bank Zachodni WBK SA 153 15,887 
BRE Bank SA 55 6,376 
CD Projekt RED SA 293 16,477 
Jastrzebska Spolka Weglowa SA (a) 316 4,800 
KGHM Polska Miedz SA (Bearer) (a) 613 16,498 
Polish Oil & Gas Co. SA 7,636 11,590 
Polski Koncern Naftowy Orlen SA 1,425 36,514 
Powszechny Zaklad Ubezpieczen SA 3,109 34,170 
TOTAL POLAND  175,346 
Portugal - 0.2%   
Energias de Portugal SA 12,269 46,498 
Galp Energia SGPS SA Class B 2,419 40,616 
Jeronimo Martins SGPS SA 1,123 18,289 
TOTAL PORTUGAL  105,403 
Qatar - 0.0%   
Qatar Telecom (Qtel) Q.S.C. (a) 274 4,892 
The Commercial Bank of Qatar (a) 952 13,310 
TOTAL QATAR  18,202 
Russia - 0.6%   
Inter Rao Ues JSC 195,000 11,823 
Lukoil PJSC 2,306 196,788 
NOVATEK OAO GDR (Reg. S) 420 80,934 
PhosAgro OJSC GDR (Reg. S) 397 4,998 
Polyus PJSC 118 9,194 
RusHydro PJSC rights (a) 10,617 0 
TOTAL RUSSIA  303,737 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 11,800 26,028 
BOC Aviation Ltd. Class A (b) 800 6,884 
CapitaCommercial Trust (REIT) 13,181 18,801 
CapitaLand Ltd. 12,500 32,442 
CapitaMall Trust 12,600 22,419 
City Developments Ltd. 1,900 12,489 
DBS Group Holdings Ltd. 8,500 176,550 
Jardine Cycle & Carriage Ltd. 500 13,058 
Keppel Corp. Ltd. 6,900 34,345 
Singapore Airlines Ltd. 2,200 15,658 
Singapore Press Holdings Ltd. 6,600 12,180 
Singapore Telecommunications Ltd. 38,400 89,499 
UOL Group Ltd. 2,700 15,047 
TOTAL SINGAPORE  475,400 
South Africa - 2.6%   
Anglo American Platinum Ltd. 248 12,517 
Aspen Pharmacare Holdings Ltd. 2,050 14,746 
Barclays Africa Group Ltd. 3,402 39,064 
Bidcorp Ltd. 1,545 32,625 
Bidvest Group Ltd. 1,593 24,176 
Clicks Group Ltd. 1,270 17,371 
Exxaro Resources Ltd. 1,184 13,519 
FirstRand Ltd. 15,666 74,371 
Foschini Ltd. 993 12,825 
Growthpoint Properties Ltd. 12,550 21,828 
Hyprop Investments Ltd. 1,427 6,983 
Investec Ltd. 1,441 9,202 
Kumba Iron Ore Ltd. 304 9,109 
Liberty Holdings Ltd. 468 3,386 
Life Healthcare Group Holdings Ltd. 6,527 11,886 
Mondi Ltd. 491 10,822 
Mr Price Group Ltd. 1,290 19,535 
MTN Group Ltd. 7,861 56,805 
MultiChoice Group Ltd. (a) 95 853 
Naspers Ltd. Class N 2,070 532,509 
Nedbank Group Ltd. 1,924 35,785 
Netcare Ltd. 6,011 10,076 
Old Mutual Ltd. 1 2 
Pick 'n Pay Stores Ltd. 1,934 9,379 
Redefine Properties Ltd. 26,806 18,458 
Remgro Ltd. 2,480 33,659 
Resilient Property Income Fund Ltd. 1,010 4,009 
RMB Holdings Ltd. 3,018 17,612 
Sanlam Ltd. 8,545 45,697 
Sappi Ltd. 2,386 11,372 
Sasol Ltd. 2,688 89,178 
Shoprite Holdings Ltd. 2,212 26,649 
Spar Group Ltd. 980 13,290 
Standard Bank Group Ltd. 6,024 83,801 
Vodacom Group Ltd. 3,154 25,426 
Woolworths Holdings Ltd. 4,819 16,072 
TOTAL SOUTH AFRICA  1,364,597 
Spain - 2.6%   
Amadeus IT Holding SA Class A 2,084 165,769 
Banco Bilbao Vizcaya Argentaria SA 31,723 192,903 
Banco de Sabadell SA 28,141 32,699 
Bankinter SA 3,238 25,851 
CaixaBank SA 17,061 54,382 
Enagas SA 1,117 31,822 
Ferrovial SA 2,326 57,290 
Gas Natural SDG SA 1,620 46,006 
Grifols SA 1,466 40,679 
Iberdrola SA 29,218 265,515 
Inditex SA 5,153 155,876 
Red Electrica Corporacion SA 2,099 43,562 
Repsol SA 6,570 111,484 
Telefonica SA 22,117 184,397 
TOTAL SPAIN  1,408,235 
Sweden - 2.3%   
ASSA ABLOY AB (B Shares) 4,699 100,453 
Atlas Copco AB:   
(A Shares) 2,910 90,834 
(B Shares) 2,068 58,901 
Boliden AB 1,306 38,866 
Essity AB Class B 2,853 84,594 
H&M Hennes & Mauritz AB (B Shares) 4,073 71,070 
Husqvarna AB (B Shares) 1,925 17,576 
ICA Gruppen AB 371 13,424 
Investor AB (B Shares) 2,101 100,200 
Kinnevik AB (B Shares) 1,198 34,911 
Lundbergfoeretagen AB 377 12,894 
Sandvik AB 5,305 98,240 
Skandinaviska Enskilda Banken AB (A Shares) 7,825 74,710 
Skanska AB (B Shares) 1,673 29,134 
SKF AB (B Shares) 1,815 33,690 
Svenska Handelsbanken AB (A Shares) 7,272 79,433 
Swedbank AB (A Shares) 4,316 70,520 
Tele2 AB (B Shares) 2,442 32,624 
Telefonaktiebolaget LM Ericsson (B Shares) 14,468 143,120 
TeliaSonera AB 13,540 57,688 
TOTAL SWEDEN  1,242,882 
Switzerland - 4.6%   
ABB Ltd. (Reg.) 8,671 178,351 
Adecco SA (Reg.) 751 43,131 
Clariant AG (Reg.) 994 20,427 
Coca-Cola HBC AG 928 33,169 
Compagnie Financiere Richemont SA Series A 2,475 180,928 
Galenica AG 231 30,197 
Givaudan SA 43 111,367 
Kuehne & Nagel International AG 254 36,905 
Lafargeholcim Ltd. (Reg.) 2,280 117,205 
Lindt & Spruengli AG (participation certificate) 5 33,245 
Lonza Group AG 354 109,326 
Roche Holding AG (participation certificate) 3,340 881,304 
SGS SA (Reg.) 25 65,964 
Sika AG 601 92,012 
Sonova Holding AG Class B 269 54,251 
Straumann Holding AG 49 39,558 
Swiss Re Ltd. 1,425 137,137 
Swisscom AG 124 57,768 
Zurich Insurance Group Ltd. 714 227,664 
TOTAL SWITZERLAND  2,449,909 
Taiwan - 3.8%   
Acer, Inc. 15,000 10,169 
Advantech Co. Ltd. 2,000 16,180 
ASE Technology Holding Co. Ltd. 16,000 37,166 
ASUSTeK Computer, Inc. 3,000 22,911 
AU Optronics Corp. 36,000 12,875 
Catcher Technology Co. Ltd. 3,000 23,736 
Cheng Shin Rubber Industry Co. Ltd. 9,000 12,014 
Chicony Electronics Co. Ltd. 2,010 4,950 
China Airlines Ltd. 23,000 7,294 
China Steel Corp. 61,000 49,251 
Chinatrust Financial Holding Co. Ltd. 82,000 56,123 
Chunghwa Telecom Co. Ltd. 18,000 64,838 
Compal Electronics, Inc. 22,000 14,203 
Delta Electronics, Inc. 10,000 52,586 
E.SUN Financial Holdings Co. Ltd. 47,326 38,823 
ECLAT Textile Co. Ltd. 1,000 14,239 
EVA Airways Corp. 17,752 8,703 
Evergreen Marine Corp. (Taiwan) 8,041 3,526 
Far Eastern Textile Ltd. 14,000 15,268 
Far EasTone Telecommunications Co. Ltd. 7,000 17,170 
Feng Tay Enterprise Co. Ltd. 2,000 16,213 
First Financial Holding Co. Ltd. 43,330 30,918 
Fubon Financial Holding Co. Ltd. 31,000 45,745 
Giant Manufacturing Co. Ltd. 2,000 15,242 
HIWIN Technologies Corp. 1,064 10,106 
Hotai Motor Co. Ltd. 1,000 15,112 
Innolux Corp. 41,000 13,135 
Inventec Corp. 13,000 10,433 
Lite-On Technology Corp. 9,000 12,684 
MediaTek, Inc. 7,000 66,937 
Micro-Star International Co. Ltd. 3,000 8,310 
Nan Ya Plastics Corp. 24,000 60,656 
President Chain Store Corp. 3,000 27,959 
Quanta Computer, Inc. 13,000 24,905 
Ruentex Development Co. Ltd. 2,400 3,293 
Sinopac Holdings Co. 48,720 18,762 
Standard Foods Corp. 2,040 3,611 
Taishin Financial Holdings Co. Ltd. 41,688 18,887 
Taiwan Business Bank 14,747 6,085 
Taiwan High Speed Rail Corp. 8,000 9,734 
Taiwan Mobile Co. Ltd. 7,000 25,597 
Taiwan Semiconductor Manufacturing Co. Ltd. 116,000 973,908 
Unified-President Enterprises Corp. 22,000 52,256 
United Microelectronics Corp. 58,000 25,290 
Vanguard International Semiconductor Corp. 5,000 11,083 
Wistron Corp. 16,264 13,474 
Yuanta Financial Holding Co. Ltd. 49,000 28,383 
TOTAL TAIWAN  2,030,743 
Thailand - 0.8%   
Advanced Info Service PCL (For. Reg.) 4,500 26,788 
Airports of Thailand PCL (For. Reg.) 20,300 43,567 
Bangkok Dusit Medical Services PCL (For. Reg.) 16,900 13,502 
Banpu PCL (For. Reg.) 7,800 4,008 
BTS Group Holdings PCL 34,033 12,582 
Bumrungrad Hospital PCL (For. Reg.) 2,100 11,646 
C.P. ALL PCL (For. Reg.) 22,100 53,662 
Central Pattana PCL (For. Reg.) 6,000 14,193 
Electricity Generating PCL (For. Reg.) 400 3,710 
Energy Absolute PCL 7,600 13,275 
Glow Energy PCL (For. Reg.) 2,000 5,734 
Home Product Center PCL (For. Reg.) 22,000 10,822 
Indorama Ventures PCL (For. Reg.) 7,000 10,034 
IRPC PCL (For. Reg.) 36,800 6,514 
Kasikornbank PCL 2,800 16,756 
Kasikornbank PCL (For. Reg.) 5,800 34,617 
Krung Thai Bank PCL (For. Reg.) 17,400 10,303 
Land & House PCL (For. Reg.) 10,300 3,614 
Minor International PCL (For. Reg.) 10,600 12,454 
PTT Global Chemical PCL (For. Reg.) 9,300 20,032 
Robinsons Department Store PCL (For. Reg.) 1,800 3,285 
Siam Cement PCL (For. Reg.) 1,600 23,160 
Siam Commercial Bank PCL (For. Reg.) 8,800 36,118 
Thai Oil PCL (For. Reg.) 5,400 11,716 
TMB PCL (For. Reg.) 39,800 2,519 
True Corp. PCL (For. Reg.) 53,200 8,584 
TOTAL THAILAND  413,195 
Turkey - 0.1%   
Arcelik A/S (a) 752 2,311 
Koc Holding A/S 4,038 10,963 
Tupras Turkiye Petrol Rafinerileri A/S 506 10,456 
Turk Sise ve Cam Fabrikalari A/S 4,299 4,395 
TOTAL TURKEY  28,125 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC 10,553 28,385 
DP World Ltd. 752 15,040 
Dubai Islamic Bank Pakistan Ltd. (a) 6,353 8,942 
National Bank of Abu Dhabi PJSC (a) 12,762 55,590 
TOTAL UNITED ARAB EMIRATES  107,957 
United Kingdom - 7.3%   
3i Group PLC 4,671 65,204 
Associated British Foods PLC 1,709 57,028 
Aviva PLC 18,220 102,326 
Barratt Developments PLC 4,683 36,750 
Berkeley Group Holdings PLC 576 28,211 
British Land Co. PLC 4,323 33,485 
BT Group PLC 39,599 118,164 
Burberry Group PLC 1,886 49,605 
Coca-Cola European Partners PLC 1,050 56,270 
Compass Group PLC 7,459 169,721 
ConvaTec Group PLC (b) 6,431 11,619 
Croda International PLC 591 39,928 
easyJet PLC 851 12,911 
GlaxoSmithKline PLC 23,506 482,889 
InterContinental Hotel Group PLC 804 52,085 
Intertek Group PLC 755 52,672 
Investec PLC 3,294 20,833 
ITV PLC 17,318 30,859 
J Sainsbury PLC 8,439 24,485 
John Wood Group PLC 3,427 21,026 
Johnson Matthey PLC 892 38,815 
Kingfisher PLC 10,157 35,023 
Legal & General Group PLC 27,927 101,312 
London Stock Exchange Group PLC 1,472 96,509 
Marks & Spencer Group PLC 7,874 29,372 
Meggitt PLC 3,652 25,925 
Merlin Entertainments PLC (b) 3,224 15,395 
Mondi PLC 1,729 37,889 
National Grid PLC 15,913 173,495 
Next PLC 645 48,497 
NMC Health PLC 541 19,908 
Pearson PLC 3,690 39,973 
Prudential PLC 12,217 277,587 
Reckitt Benckiser Group PLC 3,172 256,635 
RELX PLC (London Stock Exchange) 9,270 212,629 
Royal Mail PLC 3,831 12,629 
RSA Insurance Group PLC 4,923 34,794 
Schroders PLC 600 24,779 
Scottish & Southern Energy PLC 4,826 72,210 
Segro PLC 4,870 43,082 
Smith & Nephew PLC 4,138 79,998 
Standard Chartered PLC (United Kingdom) 13,210 120,581 
Standard Life PLC 11,692 42,522 
Taylor Wimpey PLC 15,729 37,206 
Tesco PLC 46,053 150,254 
Unilever PLC 5,195 314,895 
Whitbread PLC 861 50,074 
WM Morrison Supermarkets PLC 10,452 29,426 
TOTAL UNITED KINGDOM  3,887,485 
TOTAL COMMON STOCKS   
(Cost $49,079,192)  49,980,071 
Nonconvertible Preferred Stocks - 1.3%   
Brazil - 0.9%   
Banco Bradesco SA (PN) 19,164 173,894 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 700 17,227 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 3,830 14,398 
Itau Unibanco Holding SA 23,050 198,868 
Itausa-Investimentos Itau SA (PN) 21,532 65,402 
Telefonica Brasil SA 2,200 26,129 
TOTAL BRAZIL  495,918 
Chile - 0.1%   
Embotelladora Andina SA Class B 1,516 5,412 
Sociedad Quimica y Minera de Chile SA (PN-B) 601 21,429 
TOTAL CHILE  26,841 
Germany - 0.3%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 335 24,723 
Henkel AG & Co. KGaA 801 81,072 
Sartorius AG (non-vtg.) 169 30,935 
TOTAL GERMANY  136,730 
Korea (South) - 0.0%   
AMOREPACIFIC Corp. 60 6,031 
CJ Corp. (a)(e) 7 221 
LG Chemical Ltd. 41 7,062 
LG Household & Health Care Ltd. 12 8,340 
TOTAL KOREA (SOUTH)  21,654 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $682,527)  681,143 
 Principal Amount Value 
Government Obligations - 0.2%   
United States of America - 0.2%   
U.S. Treasury Bills, yield at date of purchase 2.6% 9/12/19(f)   
(Cost $99,055)  100,000  99,115 
 Shares Value 
Money Market Funds - 3.9%   
Fidelity Cash Central Fund, 2.49% (g)   
(Cost $2,092,417) 2,091,999 2,092,417 
TOTAL INVESTMENT IN SECURITIES - 99.1%   
(Cost $51,953,191)  52,852,746 
NET OTHER ASSETS (LIABILITIES) - 0.9%  454,140 
NET ASSETS - 100%  $53,306,886 

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) 18 June 2019 $1,725,300 $29,811 $29,811 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 13 June 2019 702,130 11,321 11,321 
TME S&P/TSX 60 Index Contracts (Canada) 1 June 2019 148,302 153 153 
TOTAL FUTURES CONTRACTS     $41,285 

The notional amount of futures purchased as a percentage of Net Assets is 4.8%

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 $180,378 or 0.3% of net assets.

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

 (d) A portion of the security sold on a delayed delivery basis.

 (e) Level 3 security

 (f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $99,115.

 (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.

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 $20,669 
Fidelity Securities Lending Cash Central Fund 2 
Total $20,671 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $3,848,149 $971,779 $2,876,370 $-- 
Consumer Discretionary 6,513,178 4,598,023 1,915,155 -- 
Consumer Staples 4,431,051 2,677,872 1,753,179 -- 
Energy 2,781,425 1,810,258 971,167 -- 
Financials 11,170,709 7,123,254 4,047,455 -- 
Health Care 4,062,896 1,515,952 2,546,944 -- 
Industrials 5,683,303 4,069,107 1,613,975 221 
Information Technology 5,092,261 2,724,587 2,367,674 -- 
Materials 3,841,394 2,635,256 1,206,138 -- 
Real Estate 1,546,707 1,546,707 -- -- 
Utilities 1,690,141 1,093,370 596,771 -- 
Government Obligations 99,115 -- 99,115 -- 
Money Market Funds 2,092,417 2,092,417 -- -- 
Total Investments in Securities: $52,852,746 $32,858,582 $19,993,943 $221 
Derivative Instruments:     
Assets     
Futures Contracts $41,285 $41,285 $-- $-- 
Total Assets $41,285 $41,285 $-- $-- 
Total Derivative Instruments: $41,285 $41,285 $-- $-- 

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, 2019. 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) $41,285 $0 
Total Equity Risk 41,285 0 
Total Value of Derivatives $41,285 $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, 2019 (Unaudited) 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $49,860,774) 		$50,760,329  
Fidelity Central Funds (cost $2,092,417) 2,092,417  
Total Investment in Securities (cost $51,953,191)  $52,852,746 
Segregated cash with brokers for derivative instruments  11,342 
Foreign currency held at value (cost $464,267)  464,755 
Receivable for securities sold on a delayed delivery basis  33,812 
Receivable for fund shares sold  142,376 
Dividends receivable  181,625 
Distributions receivable from Fidelity Central Funds  3,842 
Total assets  53,690,498 
Liabilities   
Payable for investments purchased on a delayed delivery basis $282,767  
Payable for fund shares redeemed 76,659  
Accrued management fee 7,253  
Payable for daily variation margin on futures contracts 612  
Other affiliated payables 1,280  
Other payables and accrued expenses 15,041  
Total liabilities  383,612 
Net Assets  $53,306,886 
Net Assets consist of:   
Paid in capital  $53,205,272 
Total distributable earnings (loss)  101,614 
Net Assets  $53,306,886 
Net Asset Value and Maximum Offering Price   
Net Asset Value, offering price and redemption price per share ($53,306,886 ÷ 5,029,130 shares)  $10.60 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $660,242 
Interest  2,341 
Income from Fidelity Central Funds  20,671 
Income before foreign taxes withheld  683,254 
Less foreign taxes withheld  (69,577) 
Total income  613,677 
Expenses   
Management fee $37,747  
Transfer agent fees 6,661  
Independent trustees' fees and expenses 91  
Commitment fees 61  
Total expenses before reductions 44,560  
Expense reductions (41)  
Total expenses after reductions  44,519 
Net investment income (loss)  569,158 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (1,059,742)  
Foreign currency transactions (1,041)  
Futures contracts 72,193  
Total net realized gain (loss)  (988,590) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $11,148) 4,667,229  
Assets and liabilities in foreign currencies 3,854  
Futures contracts 253,965  
Total change in net unrealized appreciation (depreciation)  4,925,048 
Net gain (loss)  3,936,458 
Net increase (decrease) in net assets resulting from operations  $4,505,616 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $569,158 $847,685 
Net realized gain (loss) (988,590) (219,778) 
Change in net unrealized appreciation (depreciation) 4,925,048 (4,778,704) 
Net increase (decrease) in net assets resulting from operations 4,505,616 (4,150,797) 
Distributions to shareholders (817,712) (262,953) 
Share transactions - net increase (decrease) 10,213,082 25,998,506 
Total increase (decrease) in net assets 13,900,986 21,584,756 
Net Assets   
Beginning of period 39,405,900 17,821,144 
End of period $53,306,886 $39,405,900 

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


Financial Highlights

Fidelity International Sustainability Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,  
 2019 2018 2017 A 
Selected Per–Share Data    
Net asset value, beginning of period $9.87 $10.96 $10.00 
Income from Investment Operations    
Net investment income (loss)B .13 .29 .11 
Net realized and unrealized gain (loss) .81 (1.24) .85 
Total from investment operations .94 (.95) .96 
Distributions from net investment income (.21) (.09) – 
Distributions from net realized gain – (.05) – 
Total distributions (.21) (.14) – 
Net asset value, end of period $10.60 $9.87 $10.96 
Total ReturnC,D 9.80% (8.77)% 9.60% 
Ratios to Average Net AssetsE,F    
Expenses before reductions .20%G .20% .20%G 
Expenses net of fee waivers, if any .20%G .20% .20%G 
Expenses net of all reductions .20%G .20% .20%G 
Net investment income (loss) 2.56%G 2.70% 2.25%G 
Supplemental Data    
Net assets, end of period (000 omitted) $53,307 $3,810 $1,968 
Portfolio turnover rateH 23%G 10% 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 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.

 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, 2019

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's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

Effective after the close of business November 9, 2018, the Fund's publicly offered shares classes were consolidated into a single share class. The surviving class is Fidelity International Sustainability Index (formerly Institutional Class). All current fiscal period dollar and share amounts for the classes that closed, which are presented in the Notes to Financial Statements, are for the period November 1, 2018 through November 9, 2018.

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 rate 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. 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, 2019 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, 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 $3,725,734 
Gross unrealized depreciation (3,695,050) 
Net unrealized appreciation (depreciation) $30,684 
Tax cost $52,863,347 

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.

No expiration  
Short-term $(295,207) 
Long-term  (148,814) 
Total capital loss carryforward $(444,021) 

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 $18,459,665 and $4,776,026, 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 .20% of each class' average net assets on an annual basis 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 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 Fidelity International Sustainability Index Fund, respectively. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. Under the expense contract, each Class pays a portion of the transfer agent fees at an annual rate of .03%, of class-level average net assets.

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

 Amount 
Investor Class $71 
Premium Class 233 
Fidelity International Sustainability Index Fund 6,357 
 $ 6,661 

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 $61 and is reflected in Commitment fees 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. At period end, there were no security loans outstanding. 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 $2. During the period, there were no 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 expenses. During the period, these credits reduced the Fund's expenses by $41.

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

 Six months ended
April 30, 2019 		Year ended
October 31, 2018 
Distributions to shareholders   
Investor Class $– $47,203 
Premium Class – 189,289 
Fidelity International Sustainability Index Fund 817,712 26,461 
Total $817,712 $262,953 

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, 2019 Year ended October 31, 2018 Six months ended April 30, 2019 Year ended October 31, 2018 
Investor Class     
Shares sold 6,889 1,146,028 $69,117 $12,374,253 
Reinvestment of distributions – 4,265 – 46,448 
Shares redeemed (851,235) (624,061) (8,545,243) (6,818,242) 
Net increase (decrease) (844,346) 526,232 $(8,476,126) $5,602,459 
Premium Class     
Shares sold 28,614 2,451,631 $289,153 $27,025,980 
Reinvestment of distributions – 16,544 – 180,162 
Shares redeemed (2,791,033) (834,454) (28,027,291) (8,899,236) 
Net increase (decrease) (2,762,419) 1,633,721 $(27,738,138) $18,306,906 
Fidelity International Sustainability Index Fund     
Shares sold 5,655,353 280,870 $56,568,329 $2,864,880 
Reinvestment of distributions 79,727 1,939 761,388 21,115 
Shares redeemed (1,091,875) (76,433) (10,902,371) (796,854) 
Net increase (decrease) 4,643,205 206,376 $46,427,346 $2,089,141 

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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Fidelity International Sustainability Index Fund .20%    
Actual  $1,000.00 $1,098.00 $1.04 
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 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

ISY-SANN-0619
1.9883819.101

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, 2019



Fidelity Investments


Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary, such as a financial advisor, broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a fund electronically, by contacting your financial intermediary. For Fidelity customers, visit Fidelity's web site or call Fidelity using the contact information listed below.

You may elect to receive all future reports in paper free of charge. If you wish to continue receiving paper copies of your shareholder reports, you may contact your financial intermediary or, if you are a Fidelity customer, visit Fidelity’s website, or call Fidelity at the applicable toll-free number listed below. Your election to receive reports in paper will apply to all funds held with the fund complex/your financial intermediary.

Account Type Website Phone Number 
Brokerage, Mutual Fund, or Annuity Contracts: fidelity.com/mailpreferences 1-800-343-3548 
Employer Provided Retirement Accounts: netbenefits.fidelity.com/preferences (choose 'no' under Required Disclosures to continue to print) 1-800-343-0860 
Advisor Sold Accounts Serviced Through Your Financial Intermediary: Contact Your Financial Intermediary Your Financial Intermediary's phone number 
Advisor Sold Accounts Serviced by Fidelity: institutional.fidelity.com 1-877-208-0098 


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.

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. © 2019 FMR LLC. All rights reserved.



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

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.



Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Japan 26.7% 
   United Kingdom 18.2% 
   France 14.4% 
   Germany 7.7% 
   Spain 4.8% 
   Italy 3.5% 
   Netherlands 3.2% 
   Hong Kong 3.1% 
   Belgium 2.9% 
   Other* 15.5% 


 * 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, 2019

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

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Royal Dutch Shell PLC Class B (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 3.7 
Sanofi SA (France, Pharmaceuticals) 2.6 
Anheuser-Busch InBev SA NV (Belgium, Beverages) 2.5 
British American Tobacco PLC (United Kingdom) (United Kingdom, Tobacco) 2.5 
Sony Corp. (Japan, Household Durables) 2.1 
Bayer AG (Germany, Pharmaceuticals) 2.1 
BNP Paribas SA (France, Banks) 2.0 
Total SA (France, Oil, Gas & Consumable Fuels) 1.7 
Sumitomo Mitsui Financial Group, Inc. (Japan, Banks) 1.7 
Honda Motor Co. Ltd. (Japan, Automobiles) 1.7 
 22.6 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 19.1 
Industrials 14.1 
Consumer Discretionary 12.8 
Consumer Staples 9.1 
Materials 8.9 
Health Care 8.8 
Energy 7.4 
Communication Services 6.9 
Information Technology 4.4 
Real Estate 3.6 

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.3%   
 Shares Value 
Australia - 1.8%   
Bendigo & Adelaide Bank Ltd. 72,541 $526,719 
BlueScope Steel Ltd. 121,660 1,153,529 
Qantas Airways Ltd. 184,886 731,182 
Rio Tinto Ltd. 82,085 5,518,663 
South32 Ltd. 1,136,276 2,675,399 
Westpac Banking Corp. 60,000 1,165,584 
TOTAL AUSTRALIA  11,771,076 
Austria - 0.5%   
OMV AG 31,842 1,705,343 
Raiffeisen International Bank-Holding AG 29,822 795,067 
Voestalpine AG 24,873 798,707 
TOTAL AUSTRIA  3,299,117 
Bailiwick of Jersey - 0.5%   
WPP PLC 278,758 3,478,286 
Belgium - 2.9%   
Anheuser-Busch InBev SA NV 188,368 16,747,261 
UCB SA 28,387 2,251,644 
TOTAL BELGIUM  18,998,905 
Bermuda - 1.2%   
Hongkong Land Holdings Ltd. 257,964 1,798,009 
Jardine Matheson Holdings Ltd. 69,970 4,604,026 
Jardine Strategic Holdings Ltd. 39,195 1,482,355 
TOTAL BERMUDA  7,884,390 
Cayman Islands - 1.0%   
CK Hutchison Holdings Ltd. 614,000 6,449,317 
Denmark - 1.1%   
A.P. Moller - Maersk A/S Series B 2,117 2,729,012 
Danske Bank A/S 154,532 2,740,637 
H Lundbeck A/S 13,604 572,258 
Pandora A/S 24,330 1,020,527 
TOTAL DENMARK  7,062,434 
France - 14.4%   
Altran Technologies SA 52,287 680,576 
Atos Origin SA 20,755 2,136,529 
BNP Paribas SA 253,168 13,476,913 
Bouygues SA 50,111 1,885,099 
Capgemini SA 35,143 4,260,912 
Carrefour SA 87,552 1,705,705 
Compagnie de St. Gobain 120,806 4,953,039 
Credit Agricole SA 270,619 3,712,126 
Eiffage SA 16,253 1,697,154 
ENGIE 405,329 6,003,218 
Eutelsat Communications 38,090 687,393 
Faurecia SA 16,464 836,142 
Ingenico SA 13,963 1,177,073 
Korian 18,127 729,078 
Michelin CGDE Series B 39,817 5,148,756 
Peugeot Citroen SA 124,050 3,250,181 
Publicis Groupe SA 48,368 2,874,815 
Renault SA 45,774 3,122,506 
Rexel SA 66,745 896,837 
Sanofi SA 196,655 17,158,011 
Societe Generale Series A 167,365 5,307,395 
Total SA 208,002 11,562,987 
Valeo SA 53,126 1,928,803 
TOTAL FRANCE  95,191,248 
Germany - 7.7%   
Bayer AG 206,211 13,724,527 
Bayerische Motoren Werke AG (BMW) 81,189 6,911,574 
Commerzbank AG 232,620 2,090,384 
Continental AG 23,882 3,947,193 
Covestro AG (a) 37,633 2,057,697 
Deutsche Lufthansa AG 52,368 1,263,998 
Freenet AG 28,317 663,791 
Fresenius Medical Care AG & Co. KGaA 46,863 3,949,776 
Fresenius SE & Co. KGaA 90,559 5,137,460 
HeidelbergCement Finance AG 32,467 2,621,879 
Merck KGaA 28,579 3,041,303 
ProSiebenSat.1 Media AG 51,522 814,488 
Rheinmetall AG 9,632 1,105,173 
RWE AG 102,362 2,614,206 
Uniper SE 42,889 1,299,297 
TOTAL GERMANY  51,242,746 
Hong Kong - 3.1%   
Bank of East Asia Ltd. 327,124 1,032,062 
Fosun International Ltd. 529,000 819,988 
Hang Lung Group Ltd. 190,000 565,534 
Henderson Land Development Co. Ltd. 331,300 2,039,796 
Link (REIT) 390,000 4,548,873 
New World Development Co. Ltd. 1,264,000 2,091,413 
Sun Hung Kai Properties Ltd. 272,000 4,694,677 
Swire Pacific Ltd. (A Shares) 139,500 1,765,800 
Swire Properties Ltd. 232,800 945,171 
Wharf Holdings Ltd. 256,000 735,876 
Wheelock and Co. Ltd. 172,000 1,224,531 
TOTAL HONG KONG  20,463,721 
Italy - 3.5%   
Atlantia SpA 103,993 2,836,650 
Intesa Sanpaolo SpA 3,484,045 9,128,255 
Leonardo SpA 86,934 1,003,816 
Mediobanca SpA 81,270 861,390 
Telecom Italia SpA (b) 3,778,634 2,115,187 
UniCredit SpA 467,196 6,461,007 
Unione di Banche Italiane SCpA 225,189 702,150 
TOTAL ITALY  23,108,455 
Japan - 26.7%   
Agc, Inc. 50,300 1,709,103 
Aisin Seiki Co. Ltd. 40,400 1,561,309 
Alfresa Holdings Corp. 33,500 930,764 
Brother Industries Ltd. 58,000 1,136,622 
Canon, Inc. 11,600 321,878 
Coca-Cola West Co. Ltd. 25,100 616,713 
Electric Power Development Co. Ltd. 38,400 889,376 
Fujifilm Holdings Corp. 95,600 4,448,947 
Fujitsu Ltd. 45,800 3,344,701 
Haseko Corp. 66,500 800,543 
Hitachi Construction Machinery Co. Ltd. 23,300 617,038 
Hitachi Ltd. 213,800 7,080,284 
Honda Motor Co. Ltd. 400,500 11,175,132 
Idemitsu Kosan Co. Ltd. 37,600 1,216,823 
Iida Group Holdings Co. Ltd. 41,000 691,584 
Itochu Corp. 325,900 5,851,250 
J. Front Retailing Co. Ltd. 59,800 727,402 
JFE Holdings, Inc. 127,700 2,183,837 
JTEKT Corp. 54,700 701,704 
JX Holdings, Inc. 748,700 3,634,114 
Kajima Corp. 111,100 1,640,644 
Kansai Electric Power Co., Inc. 178,500 2,156,037 
KDDI Corp. 333,300 7,681,748 
Kobe Steel Ltd. 80,600 614,295 
Konica Minolta, Inc. 111,100 1,111,050 
Marubeni Corp. 384,300 2,743,004 
Mazda Motor Corp. 132,700 1,567,098 
Medipal Holdings Corp. 44,900 1,005,660 
Mitsubishi Chemical Holdings Corp. 333,100 2,359,614 
Mitsubishi Corp. 351,600 9,645,761 
Mitsubishi Gas Chemical Co., Inc. 47,100 701,881 
Mitsubishi Heavy Industries Ltd. 74,600 3,094,633 
Mitsubishi Motors Corp. of Japan 151,600 847,855 
Mitsubishi Tanabe Pharma Corp. 54,600 685,226 
Mitsubishi UFJ Financial Group, Inc. 1,224,700 6,076,381 
Mitsui & Co. Ltd. 385,300 6,205,200 
Mizuho Financial Group, Inc. 3,235,700 5,053,282 
New Hampshire Foods Ltd. 23,800 955,034 
Nikon Corp. 88,600 1,232,820 
Nippon Steel & Sumitomo Metal Corp. 203,800 3,623,375 
Nippon Telegraph & Telephone Corp. 142,300 5,920,880 
Obayashi Corp. 159,500 1,559,276 
ORIX Corp. 292,900 4,132,074 
Resona Holdings, Inc. 488,200 2,058,508 
Sekisui House Ltd. 143,600 2,310,079 
SHIMIZU Corp. 160,400 1,366,485 
Shinsei Bank Ltd. 43,000 595,233 
Showa Denko K.K. 31,400 1,061,277 
Sojitz Corp. 249,100 856,459 
Sony Corp. 281,000 14,153,439 
Subaru Corp. 141,200 3,448,401 
Sumco Corp. 51,200 671,053 
Sumitomo Chemical Co. Ltd. 366,100 1,814,150 
Sumitomo Corp. 276,600 3,946,817 
Sumitomo Electric Industries Ltd. 175,600 2,324,361 
Sumitomo Heavy Industries Ltd. 27,200 958,391 
Sumitomo Mitsui Financial Group, Inc. 309,400 11,245,525 
Suzuken Co. Ltd. 19,600 1,126,083 
Taisei Corp. 49,600 2,170,654 
Teijin Ltd. 43,800 749,824 
Tokai Carbon Co. Ltd. 47,200 541,935 
Tokyo Electric Power Co., Inc. (b) 177,700 1,001,801 
Tosoh Corp. 71,900 1,152,130 
Toyota Tsusho Corp. 52,500 1,734,369 
Yamaha Motor Co. Ltd. 51,500 1,057,785 
TOTAL JAPAN  176,596,711 
Luxembourg - 0.7%   
ArcelorMittal SA (Netherlands) 141,503 3,067,542 
Aroundtown SA 159,717 1,294,455 
TOTAL LUXEMBOURG  4,361,997 
Netherlands - 3.2%   
AEGON NV 310,479 1,620,747 
ASR Nederland NV 31,179 1,384,827 
Fiat Chrysler Automobiles NV 243,293 3,747,699 
Gemalto NV (b) 4,386 251,132 
Heineken Holding NV 26,113 2,652,059 
Koninklijke Ahold Delhaize NV 261,751 6,308,616 
NN Group NV 67,364 2,933,063 
Philips Lighting NV (a) 23,272 697,703 
Randstad NV 27,511 1,571,205 
TOTAL NETHERLANDS  21,167,051 
Norway - 0.3%   
Equinor ASA 77,060 1,718,955 
Norsk Hydro ASA 138,385 596,036 
TOTAL NORWAY  2,314,991 
Singapore - 2.2%   
Oversea-Chinese Banking Corp. Ltd. 892,600 7,940,931 
United Overseas Bank Ltd. 313,100 6,406,568 
TOTAL SINGAPORE  14,347,499 
Spain - 4.8%   
ACS Actividades de Construccion y Servicios SA 60,535 2,783,775 
Banco Bilbao Vizcaya Argentaria SA 1,474,439 8,965,842 
Banco de Sabadell SA 1,241,874 1,443,030 
CaixaBank SA 793,589 2,529,561 
Inmobiliaria Colonial SA 60,673 652,948 
International Consolidated Airlines Group SA CDI 176,196 1,245,117 
Merlin Properties Socimi SA 81,025 1,104,163 
Repsol SA 282,660 4,796,371 
Telefonica SA 1,010,338 8,423,540 
TOTAL SPAIN  31,944,347 
Sweden - 2.2%   
Boliden AB 60,480 1,799,881 
Kinnevik AB (B Shares) 53,493 1,558,859 
SKF AB (B Shares) 23,776 441,330 
SSAB Svenskt Stal AB (A Shares) 166,852 630,375 
Swedbank AB (A Shares) 200,396 3,274,315 
Trelleborg AB (B Shares) 45,939 759,775 
Volvo AB (B Shares) 362,778 5,814,038 
TOTAL SWEDEN  14,278,573 
Switzerland - 1.3%   
Adecco SA (Reg.) 36,834 2,115,438 
Nestle SA (Reg. S) 498 47,946 
Novartis AG 77,380 6,340,525 
TOTAL SWITZERLAND  8,503,909 
United Kingdom - 18.2%   
3i Group PLC 214,764 2,997,959 
Anglo American PLC (United Kingdom) 310,784 8,029,868 
Babcock International Group PLC 110,857 758,927 
Barclays PLC 3,561,532 7,643,070 
Barratt Developments PLC 222,663 1,747,342 
Bellway PLC 27,130 1,100,948 
Berkeley Group Holdings PLC 30,992 1,517,934 
BHP Billiton PLC 467,032 11,024,092 
British American Tobacco PLC (United Kingdom) 415,731 16,275,431 
BT Group PLC 705,117 2,104,079 
Carnival PLC 45,471 2,410,628 
Centrica PLC 1,266,587 1,760,769 
Imperial Tobacco Group PLC 213,050 6,767,627 
Inchcape PLC 91,771 735,368 
J Sainsbury PLC 377,137 1,094,225 
Kingfisher PLC 471,281 1,625,066 
Micro Focus International PLC 79,842 2,017,520 
NMC Health PLC 18,854 693,806 
Persimmon PLC 70,225 2,047,581 
Rio Tinto PLC 61,185 3,569,476 
Royal Dutch Shell PLC Class B (United Kingdom) 760,134 24,532,073 
Royal Mail PLC 194,590 641,468 
Taylor Wimpey PLC 723,325 1,710,993 
Tesco PLC 2,028,511 6,618,300 
Vodafone Group PLC 5,925,060 10,990,241 
TOTAL UNITED KINGDOM  120,414,791 
TOTAL COMMON STOCKS   
(Cost $675,605,224)  642,879,564 
Money Market Funds - 1.4%   
Fidelity Cash Central Fund, 2.49% (c)   
(Cost $9,301,292) 9,299,432 9,301,292 
TOTAL INVESTMENT IN SECURITIES - 98.7%   
(Cost $684,906,516)  652,180,856 
NET OTHER ASSETS (LIABILITIES) - 1.3%  8,832,545 
NET ASSETS - 100%  $661,013,401 

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) 192 June 2019 $18,403,200 $291,876 $291,876 

The notional amount of futures purchased as a percentage of Net Assets is 2.8%

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 $2,755,400 or 0.4% 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 $139,377 
Fidelity Securities Lending Cash Central Fund 4,233 
Total $143,610 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $45,754,448 $1,351,184 $44,403,264 $-- 
Consumer Discretionary 84,707,049 50,194,028 34,513,021 -- 
Consumer Staples 59,788,917 13,791,363 45,997,554 -- 
Energy 49,166,666 8,275,235 40,891,431 -- 
Financials 127,158,761 50,113,032 77,045,729 -- 
Health Care 57,346,121 29,897,809 27,448,312 -- 
Industrials 93,389,507 74,663,421 18,726,086 -- 
Information Technology 29,335,980 29,014,102 321,878 -- 
Materials 58,345,462 40,725,602 17,619,860 -- 
Real Estate 23,461,246 23,461,246 -- -- 
Utilities 14,425,407 12,664,638 1,760,769 -- 
Money Market Funds 9,301,292 9,301,292 -- -- 
Total Investments in Securities: $652,180,856 $343,452,952 $308,727,904 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $291,876 $291,876 $-- $-- 
Total Assets $291,876 $291,876 $-- $-- 
Total Derivative Instruments: $291,876 $291,876 $-- $-- 

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, 2019. 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) $291,876 $0 
Total Equity Risk 291,876 0 
Total Value of Derivatives $291,876 $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, 2019 (Unaudited) 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $675,605,224) 		$642,879,564  
Fidelity Central Funds (cost $9,301,292) 9,301,292  
Total Investment in Securities (cost $684,906,516)  $652,180,856 
Segregated cash with brokers for derivative instruments  769,500 
Foreign currency held at value (cost $1,834,529)  1,843,835 
Receivable for fund shares sold  1,459,397 
Dividends receivable  4,889,935 
Distributions receivable from Fidelity Central Funds  17,881 
Receivable for daily variation margin on futures contracts  2,329 
Prepaid expenses  112 
Receivable from investment adviser for expense reductions  51,797 
Total assets  661,215,642 
Liabilities   
Accrued management fee $80,409  
Transfer agent fee payable 40,205  
Other affiliated payables 18,680  
Custody fees and expenses payable 24,592  
Registration fees payable 14,275  
Audit fees payable 24,080  
Total liabilities  202,241 
Net Assets  $661,013,401 
Net Assets consist of:   
Paid in capital  $688,417,088 
Total distributable earnings (loss)  (27,403,687) 
Net Assets, for 71,453,181 shares outstanding  $661,013,401 
Net Asset Value, offering price and redemption price per share ($661,013,401 ÷ 71,453,181 shares)  $9.25 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $11,235,564 
Interest  6,131 
Income from Fidelity Central Funds  143,610 
Income before foreign taxes withheld  11,385,305 
Less foreign taxes withheld  (877,946) 
Total income  10,507,359 
Expenses   
Management fee $419,613  
Transfer agent fees 209,806  
Accounting and security lending fees 103,185  
Custodian fees and expenses 58,108  
Independent trustees' fees and expenses 1,146  
Registration fees 38,865  
Audit 29,582  
Legal 631  
Miscellaneous 1,127  
Total expenses before reductions 862,063  
Expense reductions (300,672)  
Total expenses after reductions  561,391 
Net investment income (loss)  9,945,968 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 454,303  
Foreign currency transactions (90,269)  
Futures contracts (246,015)  
Total net realized gain (loss)  118,019 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 25,634,777  
Assets and liabilities in foreign currencies 16,760  
Futures contracts 72,430  
Total change in net unrealized appreciation (depreciation)  25,723,967 
Net gain (loss)  25,841,986 
Net increase (decrease) in net assets resulting from operations  $35,787,954 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) For the period
December 19, 2017 (commencement of operations) to October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $9,945,968 $8,117,479 
Net realized gain (loss) 118,019 (2,939,610) 
Change in net unrealized appreciation (depreciation) 25,723,967 (58,173,160) 
Net increase (decrease) in net assets resulting from operations 35,787,954 (52,995,291) 
Distributions to shareholders (10,128,476) (37,800) 
Share transactions   
Proceeds from sales of shares 149,716,828 532,575,687 
Reinvestment of distributions 10,128,476 37,800 
Cost of shares redeemed (552) (4,071,225) 
Net increase (decrease) in net assets resulting from share transactions 159,844,752 528,542,262 
Total increase (decrease) in net assets 185,504,230 475,509,171 
Net Assets   
Beginning of period 475,509,171 – 
End of period $661,013,401 $475,509,171 
Other Information   
Shares   
Sold 17,012,113 53,629,539 
Issued in reinvestment of distributions 1,207,208 3,757 
Redeemed (62) (399,374) 
Net increase (decrease) 18,219,259 53,233,922 

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, Years endedOctober 31, 
 2019 2018 A 
Selected Per–Share Data   
Net asset value, beginning of period $8.93 $10.00 
Income from Investment Operations   
Net investment income (loss)B .16 .28 
Net realized and unrealized gain (loss) .34 (1.34) 
Total from investment operations .50 (1.06) 
Distributions from net investment income (.18) (.01) 
Distributions from net realized gain –C – 
Total distributions (.18) (.01) 
Net asset value, end of period $9.25 $8.93 
Total ReturnD,E 5.81% (10.64)% 
Ratios to Average Net AssetsF,G   
Expenses before reductions .31%H .37%H 
Expenses net of fee waivers, if any .20%H .20%H 
Expenses net of all reductions .20%H .20%H 
Net investment income (loss) 3.55%H 3.32%H 
Supplemental Data   
Net assets, end of period (000 omitted) $661,013 $475,509 
Portfolio turnover rateI 62%H 54%H 

 A For the period December 19, 2017 (commencement of operations) to October 31, 2018.

 B Calculated based on average shares outstanding during the period.

 C Amount represents less than .005%.

 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, 2019

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. 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, 2019, 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, 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 $25,463,384 
Gross unrealized depreciation (61,971,275) 
Net unrealized appreciation (depreciation) $(36,507,891) 
Tax cost $688,980,623 

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.

No expiration  
Short-term $(1,236,623) 

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 $329,142,580 and $168,786,617, 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 and Security Lending Fees. Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Prior to April 1, 2019, FSC had a separate agreement with the Fund for administration of the security lending program, based on the number and duration of lending transactions. For the period, the total fees paid for accounting and administration of securities lending 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 $762 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 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. At period end, there were no security loans outstanding. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers, 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 $4,233. During the period, there were no securities loaned to FCM.

9. Expense Reductions.

The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .20% of average net assets. This reimbursement will remain in place through February 29, 2020. 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 $300,672.

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, Strategic Advisers Fidelity International Fund was the owner of record of approximately 100% 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, 2018 to April 30, 2019).

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, 2018 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period-B
November 1, 2018
to April 30, 2019 
Actual .20% $1,000.00 $1,058.10 $1.02 
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 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

IIV-SANN-0619
1.9885502.101

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Fidelity® SAI International Low Volatility Index Fund (formerly Fidelity® SAI International Minimum Volatility Index Fund)

Fidelity® SAI U.S. Low Volatility Index Fund (formerly 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, 2019



Fidelity Investments


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Contents

Fidelity® SAI Emerging Markets Low Volatility Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity® SAI International Low Volatility Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity® SAI U.S. Low Volatility Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Board Approval of Investment Advisory Contracts and Management Fees


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NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Funds nor Fidelity Distributors Corporation is a bank.



Fidelity® SAI Emerging Markets Low Volatility Index Fund

Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Taiwan 15.3% 
   Cayman Islands 13.6% 
   India 12.6% 
   Korea (South) 11.9% 
   Malaysia 5.7% 
   China 5.4% 
   Thailand 5.3% 
   Hong Kong 4.6% 
   United States of America* 3.7% 
   Other 21.9% 


 * 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, 2019

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

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Yum China Holdings, Inc. (United States of America, Hotels, Restaurants & Leisure) 1.9 
HCL Technologies Ltd. (India, IT Services) 1.7 
Shenzhou International Group Holdings Ltd. (Cayman Islands, Textiles, Apparel & Luxury Goods) 1.6 
Tata Consultancy Services Ltd. (India, IT Services) 1.6 
NetEase, Inc. ADR (Cayman Islands, Entertainment) 1.6 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 1.6 
Wipro Ltd. (India, IT Services) 1.6 
Hengan International Group Co. Ltd. (Cayman Islands, Personal Products) 1.5 
Chunghwa Telecom Co. Ltd. (Taiwan, Diversified Telecommunication Services) 1.5 
Infosys Ltd. (India, IT Services) 1.5 
 16.1 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Financials 20.0 
Information Technology 15.4 
Communication Services 13.3 
Consumer Discretionary 12.0 
Consumer Staples 10.8 
Health Care 7.5 
Industrials 6.7 
Utilities 6.2 
Materials 3.4 
Energy 2.6 

Fidelity® SAI Emerging Markets Low Volatility Index Fund

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.2%   
 Shares Value 
Bailiwick of Jersey - 0.8%   
WNS Holdings Ltd. sponsored ADR (a) 85,465 $4,884,325 
Bermuda - 0.9%   
China Resource Gas Group Ltd. 474,000 2,193,326 
Shenzhen International Holdings Ltd. 1,703,500 3,674,182 
TOTAL BERMUDA  5,867,508 
Brazil - 2.2%   
Atacadao Distribuicao Comercio e Industria Ltda 361,600 1,955,043 
Embraer SA 1,204,100 6,031,094 
Hapvida Participacoes e Investimentos SA (b) 13,000 100,324 
IRB Brasil Resseguros SA 160,000 3,831,578 
Ultrapar Participacoes SA 398,200 2,132,616 
TOTAL BRAZIL  14,050,655 
Cayman Islands - 13.6%   
AAC Technology Holdings, Inc. 876,000 5,690,637 
China Literature Ltd. (a)(b) 559,800 2,540,394 
Hengan International Group Co. Ltd. 1,074,000 9,467,048 
NetEase, Inc. ADR 35,844 10,198,693 
PagSeguro Digital Ltd. (a) 275,579 7,181,589 
Semiconductor Manufacturing International Corp. (a) 5,345,000 5,722,942 
Shenzhou International Group Holdings Ltd. 767,100 10,296,710 
Sino Biopharmaceutical Ltd. 7,870,000 7,564,221 
Tencent Holdings Ltd. 204,800 10,094,113 
Want Want China Holdings Ltd. 10,093,000 8,002,557 
ZTO Express (Cayman), Inc. sponsored ADR 444,211 8,853,125 
TOTAL CAYMAN ISLANDS  85,612,029 
Chile - 3.1%   
Aguas Andinas SA 4,678,203 2,693,714 
Banco de Chile (a) 44,349,492 6,506,731 
Colbun SA (a) 12,159,489 2,718,067 
Compania Cervecerias Unidas SA 220,630 3,049,013 
Empresas CMPC SA 315,191 1,060,937 
Sociedad Matriz Banco de Chile Class B 6,545,789 3,208,722 
TOTAL CHILE  19,237,184 
China - 5.4%   
Beijing Capital International Airport Co. Ltd. (H Shares) 2,410,000 2,144,325 
China Construction Bank Corp. (H Shares) 10,085,000 8,890,590 
China Huarong Asset Management Co. Ltd. (b) 15,410,000 3,300,122 
China Reinsurance Group Corp. (H Shares) 10,374,000 2,115,847 
China Telecom Corp. Ltd. (H Shares) 9,458,000 4,894,896 
Huaneng Power International, Inc. (H Shares) 6,078,000 3,889,399 
Jiangsu Expressway Co. Ltd. (H Shares) 2,096,000 2,981,766 
Sinopharm Group Co. Ltd. (H Shares) 841,200 3,302,692 
Tsingtao Brewery Co. Ltd. (H Shares) 350,000 2,230,777 
TOTAL CHINA  33,750,414 
Czech Republic - 0.3%   
Komercni Banka A/S 5,860 222,043 
MONETA Money Bank A/S (b) 603,282 1,932,204 
TOTAL CZECH REPUBLIC  2,154,247 
Hong Kong - 4.6%   
China Mobile Ltd. 860,500 8,210,376 
China Resources Pharmaceutical Group Ltd. (b) 2,797,500 3,979,719 
Guangdong Investment Ltd. 4,736,000 8,874,567 
Lenovo Group Ltd. 8,276,000 7,669,605 
TOTAL HONG KONG  28,734,267 
India - 12.6%   
Apollo Hospitals Enterprise Ltd. (a) 154,902 2,705,620 
Cipla Ltd. (a) 446,144 3,619,271 
Dr. Reddy's Laboratories Ltd. 139,015 5,843,340 
HCL Technologies Ltd. 638,782 10,853,342 
Hindustan Unilever Ltd. 356,157 8,988,430 
Infosys Ltd. 856,474 9,212,708 
Lupin Ltd. (a) 378,982 4,745,233 
Petronet LNG Ltd. 54,515 188,756 
Pidilite Industries Ltd. 210,487 3,731,054 
Sun Pharmaceutical Industries Ltd. 246,579 1,620,269 
Tata Consultancy Services Ltd. 315,263 10,231,664 
Tech Mahindra Ltd. (a) 627,812 7,536,773 
Wipro Ltd. 2,318,491 9,950,107 
TOTAL INDIA  79,226,567 
Indonesia - 3.2%   
PT Bank Central Asia Tbk 4,474,300 9,027,096 
PT Indofood CBP Sukses Makmur Tbk 3,793,700 2,589,034 
PT Telekomunikasi Indonesia Tbk Series B 32,354,600 8,615,620 
TOTAL INDONESIA  20,231,750 
Korea (South) - 11.9%   
Db Insurance Co. Ltd. (a) 75,755 4,451,544 
E-Mart Co. Ltd. 34,132 5,043,517 
Hankook Tire Co. Ltd. 135,580 4,629,947 
Hyundai Mobis 39,503 7,890,351 
Kangwon Land, Inc. 193,926 5,664,456 
Korea Electric Power Corp. 291,098 7,072,121 
Korea Express Co. Ltd. (a) 15,236 2,061,554 
KT&G Corp. 96,620 8,466,628 
S1 Corp. 30,577 2,574,330 
Samsung Life Insurance Co. Ltd. 107,213 7,819,850 
SK C&C Co. Ltd. 19,500 4,296,999 
SK Telecom Co. Ltd. 37,392 7,959,270 
Woongjin Coway Co. Ltd. 92,178 6,952,886 
TOTAL KOREA (SOUTH)  74,883,453 
Malaysia - 5.7%   
Dialog Group Bhd 1,724,500 1,343,062 
Hap Seng Consolidated Bhd 1,053,800 2,518,211 
Hong Leong Bank Bhd 718,900 3,474,089 
IHH Healthcare Bhd 4,543,000 6,109,343 
Malayan Banking Bhd 3,696,000 8,268,956 
Petronas Dagangan Bhd 511,400 2,990,846 
Petronas Gas Bhd 711,200 3,041,242 
Public Bank Bhd 1,461,500 7,953,501 
TOTAL MALAYSIA  35,699,250 
Mexico - 2.3%   
Gruma S.A.B. de CV Series B 29,390 293,764 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 628,800 6,393,559 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 317,035 5,221,832 
Kimberly-Clark de Mexico SA de CV Series A 1,358,300 2,347,931 
TOTAL MEXICO  14,257,086 
Philippines - 3.2%   
Aboitiz Power Corp. 2,727,900 1,986,898 
Bank of the Philippine Islands (BPI) 2,971,990 4,871,974 
BDO Unibank, Inc. 2,995,460 7,754,862 
GT Capital Holdings, Inc. 4,715 78,796 
Jollibee Food Corp. 664,050 3,907,837 
SM Prime Holdings, Inc. 1,997,300 1,599,461 
TOTAL PHILIPPINES  20,199,828 
Qatar - 2.5%   
Qatar Electricity & Water Co. (a) 28,931 1,326,976 
Qatar Gas Transport Co. Ltd. (Nakilat) (a) 465,697 2,739,883 
Qatar National Bank SAQ (a) 128,582 6,921,867 
The Commercial Bank of Qatar (a) 334,919 4,682,381 
TOTAL QATAR  15,671,107 
South Africa - 1.4%   
Bidcorp Ltd. 422,622 8,924,252 
Taiwan - 15.3%   
ASUSTeK Computer, Inc. 511,000 3,902,531 
Chang Hwa Commercial Bank 9,840,000 5,890,881 
China Steel Corp. 10,900,000 8,800,563 
Chunghwa Telecom Co. Ltd. 2,593,000 9,340,253 
Far EasTone Telecommunications Co. Ltd. 2,734,000 6,706,271 
Formosa Petrochemical Corp. 2,030,000 7,521,681 
Formosa Plastics Corp. 2,044,000 7,408,194 
Giant Manufacturing Co. Ltd. 331,000 2,522,507 
Novatek Microelectronics Corp. 344,000 2,243,091 
Pou Chen Corp. 2,371,000 2,881,077 
Quanta Computer, Inc. 4,700,000 9,003,948 
Taiwan Cooperative Financial Holding Co. Ltd. 7,592,000 5,036,438 
Taiwan Mobile Co. Ltd. 2,429,000 8,882,176 
Unified-President Enterprises Corp. 2,373,000 5,636,470 
United Microelectronics Corp. 16,151,000 7,042,383 
WPG Holding Co. Ltd. 2,473,000 3,261,108 
TOTAL TAIWAN  96,079,572 
Thailand - 5.3%   
Advanced Info Service PCL (For. Reg.) 646,900 3,850,897 
Bangkok Dusit Medical Services PCL (For. Reg.) 4,797,000 3,832,490 
BTS Group Holdings PCL 9,836,500 3,636,585 
Bumrungrad Hospital PCL (For. Reg.) 602,200 3,339,528 
CPN Retail Growth Leasehold REIT 221,100 202,622 
Electricity Generating PCL (For. Reg.) 393,200 3,646,501 
Glow Energy PCL (For. Reg.) 819,400 2,349,028 
Kasikornbank PCL 1,379,900 8,257,567 
Krung Thai Bank PCL (For. Reg.) 6,468,600 3,830,392 
TMB PCL (For. Reg.) 11,485,100 726,871 
TOTAL THAILAND  33,672,481 
United Arab Emirates - 2.0%   
Emirates Telecommunications Corp. 899,303 4,088,687 
National Bank of Abu Dhabi PJSC (a) 1,939,969 8,450,377 
TOTAL UNITED ARAB EMIRATES  12,539,064 
United States of America - 1.9%   
Yum China Holdings, Inc. 247,721 11,776,659 
TOTAL COMMON STOCKS   
(Cost $607,326,080)  617,451,698 
Money Market Funds - 1.6%   
Fidelity Cash Central Fund, 2.49% (c)   
(Cost $10,130,848) 10,128,822 10,130,848 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $617,456,928)  627,582,546 
NET OTHER ASSETS (LIABILITIES) - 0.2%  1,538,127 
NET ASSETS - 100%  $629,120,673 

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) 220 June 2019 $11,882,200 $223,141 $223,141 

The notional amount of futures purchased as a percentage of Net Assets is 1.9%

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 $11,852,763 or 1.9% of net assets.

 (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 $81,341 
Total $81,341 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $82,841,252 $38,621,620 $44,219,632 $-- 
Consumer Discretionary 75,097,538 75,097,538 -- -- 
Consumer Staples 66,994,464 66,994,464 -- -- 
Energy 16,916,844 16,916,844 -- -- 
Financials 127,605,603 118,715,013 8,890,590 -- 
Health Care 46,661,726 40,818,386 5,843,340 -- 
Industrials 41,534,437 41,534,437 -- -- 
Information Technology 97,205,164 59,586,387 37,618,777 -- 
Materials 21,000,748 21,000,748 -- -- 
Real Estate 1,802,083 1,802,083 -- -- 
Utilities 39,791,839 32,719,718 7,072,121 -- 
Money Market Funds 10,130,848 10,130,848 -- -- 
Total Investments in Securities: $627,582,546 $523,938,086 $103,644,460 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $223,141 $223,141 $-- $-- 
Total Assets $223,141 $223,141 $-- $-- 
Total Derivative Instruments: $223,141 $223,141 $-- $-- 

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, 2019. 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) $223,141 $0 
Total Equity Risk 223,141 0 
Total Value of Derivatives $223,141 $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 distributable earnings.

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


Fidelity® SAI Emerging Markets Low Volatility Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $607,326,080) 		$617,451,698  
Fidelity Central Funds (cost $10,130,848) 10,130,848  
Total Investment in Securities (cost $617,456,928)  $627,582,546 
Segregated cash with brokers for derivative instruments  530,400 
Foreign currency held at value (cost $653,154)  655,502 
Receivable for fund shares sold  1,075,627 
Dividends receivable  472,788 
Distributions receivable from Fidelity Central Funds  34,795 
Receivable from investment adviser for expense reductions  77,344 
Total assets  630,429,002 
Liabilities   
Payable for fund shares redeemed $227,934  
Accrued management fee 68,721  
Payable for daily variation margin on futures contracts 15,344  
Other affiliated payables 51,428  
Other payables and accrued expenses 944,902  
Total liabilities  1,308,329 
Net Assets  $629,120,673 
Net Assets consist of:   
Paid in capital  $618,168,911 
Total distributable earnings (loss)  10,951,762 
Net Assets, for 61,174,255 shares outstanding  $629,120,673 
Net Asset Value, offering price and redemption price per share ($629,120,673 ÷ 61,174,255 shares)  $10.28 

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


Statement of Operations

  For the period
January 30, 2019 (commencement of operations) to
April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $2,027,412 
Interest  1,976 
Income from Fidelity Central Funds  81,341 
Income before foreign taxes withheld  2,110,729 
Less foreign taxes withheld  (197,047) 
Total income  1,913,682 
Expenses   
Management fee $151,923  
Transfer agent fees 75,962  
Accounting fees and expenses 38,644  
Custodian fees and expenses 104,264  
Independent trustees' fees and expenses 181  
Registration fees 119,416  
Audit 14,925  
Legal 1  
Commitment fees 92  
Total expenses before reductions 505,408  
Expense reductions (249,624)  
Total expenses after reductions  255,784 
Net investment income (loss)  1,657,898 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $4,103) (115,210)  
Foreign currency transactions 130,661  
Futures contracts (304,418)  
Total net realized gain (loss)  (288,967) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (net of increase in deferred foreign taxes of $768,100) 9,357,518  
Assets and liabilities in foreign currencies 2,172  
Futures contracts 223,141  
Total change in net unrealized appreciation (depreciation)  9,582,831 
Net gain (loss)  9,293,864 
Net increase (decrease) in net assets resulting from operations  $10,951,762 

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


Statement of Changes in Net Assets

 For the period
January 30, 2019 (commencement of operations) to
April 30, 2019 (Unaudited) 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $1,657,898 
Net realized gain (loss) (288,967) 
Change in net unrealized appreciation (depreciation) 9,582,831 
Net increase (decrease) in net assets resulting from operations 10,951,762 
Share transactions  
Proceeds from sales of shares 632,423,514 
Cost of shares redeemed (14,254,603) 
Net increase (decrease) in net assets resulting from share transactions 618,168,911 
Total increase (decrease) in net assets 629,120,673 
Net Assets  
Beginning of period – 
End of period $629,120,673 
Other Information  
Shares  
Sold 62,582,076 
Redeemed (1,407,821) 
Net increase (decrease) 61,174,255 

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


Financial Highlights

Fidelity SAI Emerging Markets Low Volatility Index Fund

 Six months ended (Unaudited) April 30, 
 2019 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .04 
Net realized and unrealized gain (loss) .24 
Total from investment operations .28 
Net asset value, end of period $10.28 
Total ReturnC,D 2.80% 
Ratios to Average Net AssetsE,F  
Expenses before reductions .49%G 
Expenses net of fee waivers, if any .25%G 
Expenses net of all reductions .25%G 
Net investment income (loss) 1.61%G 
Supplemental Data  
Net assets, end of period (000 omitted) $629,121 
Portfolio turnover rateH 2%I 

 A For the period January 30, 2019 (commencement of operations) to April 30, 2019.

 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.

 I Amount not annualized.

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


Fidelity® SAI International Low Volatility Index Fund

Investment Summary (Unaudited)

Geographic Diversification (% of fund's net assets)

As of April 30, 2019 
   Japan 28.9% 
   United Kingdom 17.1% 
   Switzerland 12.4% 
   Hong Kong 7.7% 
   France 6.8% 
   Germany 6.7% 
   United States of America* 3.3% 
   Bermuda 3.2% 
   Australia 2.8% 
   Other 11.1% 


 * 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, 2019

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

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 2.1 
Diageo PLC (United Kingdom, Beverages) 2.1 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 1.9 
Muenchener Rueckversicherungs AG (Germany, Insurance) 1.8 
RELX PLC (London Stock Exchange) (United Kingdom, Professional Services) 1.8 
Compass Group PLC (United Kingdom, Hotels, Restaurants & Leisure) 1.8 
Novartis AG (Switzerland, Pharmaceuticals) 1.8 
Hang Seng Bank Ltd. (Hong Kong, Banks) 1.7 
National Grid PLC (United Kingdom, Multi-Utilities) 1.7 
Link (REIT) (Hong Kong, Equity Real Estate Investment Trusts (REITs)) 1.7 
 18.4 

Top Market Sectors as of April 30, 2019

 % of fund's net assets 
Industrials 18.0 
Consumer Staples 15.9 
Financials 14.0 
Health Care 10.0 
Communication Services 8.3 
Utilities 8.3 
Real Estate 8.3 
Consumer Discretionary 6.3 
Materials 4.0 
Information Technology 2.6 

Fidelity® SAI International Low Volatility Index Fund

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.7%   
 Shares Value 
Australia - 2.8%   
Amcor Ltd. 1,861,974 $21,040,955 
Sonic Healthcare Ltd. 685,698 12,398,769 
Telstra Corp. Ltd. 6,197,896 14,767,919 
TOTAL AUSTRALIA  48,207,643 
Belgium - 0.4%   
Colruyt NV 91,336 6,582,952 
Bermuda - 3.2%   
Cheung Kong Infrastructure Holdings Ltd. 1,202,500 9,764,334 
Hiscox Ltd. 511,574 11,167,128 
Jardine Matheson Holdings Ltd. 401,087 26,391,525 
Jardine Strategic Holdings Ltd. 207,805 7,859,185 
TOTAL BERMUDA  55,182,172 
Cayman Islands - 0.0%   
China Huishan Dairy Holdings Co. Ltd. (a)(b) 5,145,000 137,728 
Denmark - 1.1%   
Christian Hansen Holding A/S 117,628 11,999,070 
Tryg A/S 210,660 6,437,247 
TOTAL DENMARK  18,436,317 
Finland - 1.6%   
Sampo Oyj (A Shares) 587,433 26,897,441 
France - 6.8%   
bioMerieux SA 72,269 5,734,776 
Essilor International SA 200,324 24,407,186 
L'Oreal SA 104,257 28,660,683 
Orpea 89,080 10,860,448 
SCOR SE 217,693 8,877,820 
Sodexo SA 132,513 15,197,068 
Thales SA 184,902 22,076,249 
TOTAL FRANCE  115,814,230 
Germany - 6.7%   
Beiersdorf AG 150,340 16,430,464 
Fresenius SE & Co. KGaA 367,653 20,857,149 
Hannover Reuck SE 80,714 12,167,074 
LEG Immobilien AG 81,961 9,537,474 
Muenchener Rueckversicherungs AG 126,410 31,617,265 
Symrise AG 212,450 20,420,932 
Vonovia SE 79,661 3,973,296 
TOTAL GERMANY  115,003,654 
Hong Kong - 7.7%   
CLP Holdings Ltd. 2,313,000 26,226,462 
Hang Seng Bank Ltd. 1,116,200 29,310,779 
Hong Kong & China Gas Co. Ltd. 5,931,595 14,160,253 
Link (REIT) 2,467,500 28,780,370 
MTR Corp. Ltd. 2,783,151 16,568,064 
Power Assets Holdings Ltd. 2,268,000 15,814,246 
Swire Pacific Ltd. (A Shares) 113,000 1,430,362 
TOTAL HONG KONG  132,290,536 
Ireland - 0.4%   
Glanbia PLC 350,940 6,451,338 
Israel - 0.8%   
Bank Hapoalim BM (Reg.) 1,484,037 10,909,762 
Israel Discount Bank Ltd. (Class A) 315,116 1,227,901 
Mizrahi Tefahot Bank Ltd. 96,652 2,089,679 
TOTAL ISRAEL  14,227,342 
Japan - 28.9%   
Activia Properties, Inc. (c) 1,214 5,067,642 
Ajinomoto Co., Inc. (c) 944,100 15,191,878 
All Nippon Airways Ltd. (c) 182,500 6,369,765 
Aozora Bank Ltd. 202,400 4,922,138 
Asahi Group Holdings (c) 585,700 25,390,236 
Canon, Inc. (c) 202,700 5,624,535 
Central Japan Railway Co. (c) 97,000 20,807,173 
Daito Trust Construction Co. Ltd. (c) 131,700 17,574,581 
Daiwa House REIT Investment Corp. (c) 2,591 5,942,821 
Fujifilm Holdings Corp. (c) 618,200 28,769,234 
Hankyu Hanshin Holdings, Inc. (c) 430,600 16,041,923 
Japan Airlines Co. Ltd. (c) 200,700 6,718,527 
Japan Prime Realty Investment Corp. (c) 1,609 6,427,622 
Japan Real Estate Investment Corp. (c) 2,417 13,387,396 
Japan Retail Fund Investment Corp. (c) 4,567 8,732,627 
Keihan Electric Railway Co., Ltd. (c) 135,400 5,743,211 
Kenedix Office Investment Corp. 764 5,109,565 
Kintetsu Group Holdings Co. Ltd. (c) 332,900 14,748,072 
Lawson, Inc. (c) 87,500 4,076,709 
Mitsubishi Tanabe Pharma Corp. (c) 429,700 5,392,707 
Nagoya Railroad Co. Ltd. (c) 292,400 7,900,929 
Nippon Accommodations Fund, Inc. 7 35,756 
Nippon Telegraph & Telephone Corp. (c) 627,400 26,105,130 
Nisshin Seifun Group, Inc. (c) 395,300 9,169,668 
Nissin Food Holdings Co. Ltd. (c) 129,800 8,541,084 
NTT Data Corp. (c) 881,300 10,237,463 
NTT DOCOMO, Inc. (c) 1,157,900 25,144,476 
Odakyu Electric Railway Co. Ltd. (c) 471,800 11,071,280 
Oriental Land Co. Ltd. (c) 157,900 17,392,459 
ORIX JREIT, Inc. (c) 4,814 8,448,647 
Osaka Gas Co. Ltd. (c) 708,600 13,072,158 
Otsuka Holdings Co. Ltd. (c) 581,000 20,701,010 
Secom Co. Ltd. (c) 316,100 26,497,974 
Seven & i Holdings Co. Ltd. (c) 651,900 22,560,505 
SHIMANO, Inc. (c) 148,500 21,716,100 
Suntory Beverage & Food Ltd. (c) 205,900 9,057,049 
Tobu Railway Co. Ltd. (c) 336,900 9,496,530 
Tokyo Gas Co. Ltd. (c) 691,600 17,551,535 
Toyo Suisan Kaisha Ltd. (c) 177,200 6,736,766 
TOTAL JAPAN  493,474,881 
Netherlands - 0.3%   
Unilever NV (Certificaten Van Aandelen) (Bearer) 79,103 4,786,094 
Norway - 1.0%   
Marine Harvest ASA 765,758 16,588,931 
Singapore - 2.6%   
Ascendas Real Estate Investment Trust 947,800 2,090,582 
CapitaMall Trust 4,882,500 8,687,339 
Singapore Airlines Ltd. 913,000 6,497,934 
Singapore Press Holdings Ltd. 2,604,700 4,806,850 
Singapore Telecommunications Ltd. 9,805,400 22,853,553 
TOTAL SINGAPORE  44,936,258 
Spain - 0.7%   
Enagas SA 395,819 11,276,345 
Sweden - 2.2%   
ASSA ABLOY AB (B Shares) 543,849 11,626,169 
Svenska Handelsbanken AB (A Shares) 2,420,355 26,437,775 
Swedbank AB (A Shares) 15,864 259,205 
TOTAL SWEDEN  38,323,149 
Switzerland - 12.4%   
Alcon, Inc. (a) 73,336 4,223,324 
Baloise Holdings AG 84,192 14,426,540 
Givaudan SA 5,705 14,775,499 
Helvetia Holding AG (Reg.) 11,377 7,229,606 
Nestle SA (Reg. S) 372,399 35,853,704 
Novartis AG 366,479 30,029,326 
PSP Swiss Property AG 15,490 1,581,000 
Roche Holding AG (participation certificate) 121,992 32,189,220 
SGS SA (Reg.) 6,464 17,055,593 
Swiss Prime Site AG 120,843 9,701,121 
Swiss Re Ltd. 289,042 27,816,339 
Swisscom AG 38,574 17,970,536 
TOTAL SWITZERLAND  212,851,808 
United Kingdom - 17.1%   
Admiral Group PLC 393,935 11,321,755 
BAE Systems PLC 3,917,722 25,180,305 
Bunzl PLC 496,474 14,948,514 
Compass Group PLC 1,320,489 30,046,222 
Diageo PLC 850,094 35,838,020 
Direct Line Insurance Group PLC 2,341,476 10,057,520 
GlaxoSmithKline PLC 90,028 1,849,465 
Informa PLC 2,185,348 22,199,115 
National Grid PLC 2,670,597 29,116,835 
Pearson PLC 882,351 9,558,411 
RELX PLC (London Stock Exchange) 1,336,724 30,660,919 
Royal Dutch Shell PLC Class B (United Kingdom) 178,694 5,767,056 
Scottish & Southern Energy PLC 316,428 4,734,594 
Smith & Nephew PLC 1,393,239 26,934,775 
Tate & Lyle PLC 637,022 6,376,274 
Tritax Big Box REIT PLC 2,566,029 4,972,307 
Unilever PLC 199,945 12,119,684 
United Utilities Group PLC 1,032,461 11,158,376 
TOTAL UNITED KINGDOM  292,840,147 
TOTAL COMMON STOCKS   
(Cost $1,587,891,814)  1,654,308,966 
 Principal Amount Value 
Government Obligations - 0.2%   
United States of America - 0.2%   
U.S. Treasury Bills, yield at date of purchase 2.55% 9/12/19 (d)   
(Cost $2,972,201) 3,000,000 2,973,451 
 Shares Value 
Money Market Funds - 1.8%   
Fidelity Cash Central Fund, 2.49% (e)   
(Cost $30,884,907) 30,878,731 30,884,907 
TOTAL INVESTMENT IN SECURITIES - 98.7%   
(Cost $1,621,748,922)  1,688,167,324 
NET OTHER ASSETS (LIABILITIES) - 1.3%  22,237,387 
NET ASSETS - 100%  $1,710,404,711 

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) 587 June 2019 $56,263,950 $1,092,272 $1,092,272 

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

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

Legend

 (a) Non-income producing

 (b) Level 3 security

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

 (d) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,488,779.

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

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 $1,047,542 
Fidelity Securities Lending Cash Central Fund 135,832 
Total $1,183,374 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $143,405,990 $82,597,973 $60,808,017 $-- 
Consumer Discretionary 108,759,035 54,305,627 54,453,408 -- 
Consumer Staples 270,549,767 159,254,032 111,158,007 137,728 
Energy 17,043,401 11,276,345 5,767,056 -- 
Financials 243,172,974 189,578,553 53,594,421 -- 
Health Care 171,170,969 80,168,183 91,002,786 -- 
Industrials 304,259,841 250,397,774 53,862,067 -- 
Information Technology 44,631,232 39,006,697 5,624,535 -- 
Materials 68,236,456 68,236,456 -- -- 
Real Estate 141,480,508 141,480,508 -- -- 
Utilities 141,598,793 122,703,946 18,894,847 -- 
Government Obligations 2,973,451 -- 2,973,451 -- 
Money Market Funds 30,884,907 30,884,907 -- -- 
Total Investments in Securities: $1,688,167,324 $1,229,891,001 $458,138,595 $137,728 
Derivative Instruments:     
Assets     
Futures Contracts $1,092,272 $1,092,272 $-- $-- 
Total Assets $1,092,272 $1,092,272 $-- $-- 
Total Derivative Instruments: $1,092,272 $1,092,272 $-- $-- 

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, 2019. 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) $1,092,272 $0 
Total Equity Risk 1,092,272 0 
Total Value of Derivatives $1,092,272 $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 distributable earnings.

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


Fidelity® SAI International Low Volatility Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $1,590,864,015) 		$1,657,282,417  
Fidelity Central Funds (cost $30,884,907) 30,884,907  
Total Investment in Securities (cost $1,621,748,922)  $1,688,167,324 
Foreign currency held at value (cost $23,214,768)  23,244,626 
Receivable for investments sold  472 
Receivable for fund shares sold  4,191,522 
Dividends receivable  11,553,222 
Distributions receivable from Fidelity Central Funds  193,900 
Receivable for daily variation margin on futures contracts  7,899 
Prepaid expenses  712 
Receivable from investment adviser for expense reductions  100,514 
Other receivables  31,267 
Total assets  1,727,491,458 
Liabilities   
Payable for investments purchased   
Regular delivery $329  
Delayed delivery 15,951,000  
Payable for fund shares redeemed 656,222  
Accrued management fee 207,313  
Other affiliated payables 139,850  
Other payables and accrued expenses 132,033  
Total liabilities  17,086,747 
Net Assets  $1,710,404,711 
Net Assets consist of:   
Paid in capital  $1,526,318,024 
Total distributable earnings (loss)  184,086,687 
Net Assets, for 156,244,751 shares outstanding  $1,710,404,711 
Net Asset Value, offering price and redemption price per share ($1,710,404,711 ÷ 156,244,751 shares)  $10.95 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $26,544,083 
Non-Cash dividends  1,466,258 
Interest  73,277 
Income from Fidelity Central Funds  1,183,374 
Income before foreign taxes withheld  29,266,992 
Less foreign taxes withheld  (2,726,823) 
Total income  26,540,169 
Expenses   
Management fee $1,230,973  
Transfer agent fees 615,486  
Accounting and security lending fees 215,623  
Custodian fees and expenses 212,986  
Independent trustees' fees and expenses 3,544  
Registration fees 67,040  
Audit 61,578  
Legal 2,066  
Interest 31,253  
Miscellaneous 4,806  
Total expenses before reductions 2,445,355  
Expense reductions (776,954)  
Total expenses after reductions  1,668,401 
Net investment income (loss)  24,871,768 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $4,046) 106,435,368  
Fidelity Central Funds 7  
Foreign currency transactions (1,073,922)  
Futures contracts (5,026,163)  
Total net realized gain (loss)  100,335,290 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (18,578,308)  
Assets and liabilities in foreign currencies (52,603)  
Futures contracts 5,525,171  
Total change in net unrealized appreciation (depreciation)  (13,105,740) 
Net gain (loss)  87,229,550 
Net increase (decrease) in net assets resulting from operations  $112,101,318 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $24,871,768 $41,851,298 
Net realized gain (loss) 100,335,290 39,840,593 
Change in net unrealized appreciation (depreciation) (13,105,740) (87,524,066) 
Net increase (decrease) in net assets resulting from operations 112,101,318 (5,832,175) 
Distributions to shareholders (41,490,344) (32,823,660) 
Share transactions   
Proceeds from sales of shares 569,428,336 1,039,598,042 
Reinvestment of distributions 11,543,460 18,818,037 
Cost of shares redeemed (477,648,224) (1,297,746,811) 
Net increase (decrease) in net assets resulting from share transactions 103,323,572 (239,330,732) 
Total increase (decrease) in net assets 173,934,546 (277,986,567) 
Net Assets   
Beginning of period 1,536,470,165 1,814,456,732 
End of period $1,710,404,711 $1,536,470,165 
Other Information   
Shares   
Sold 53,527,771 94,860,500 
Issued in reinvestment of distributions 1,123,998 1,740,799 
Redeemed (44,820,474) (117,730,775) 
Net increase (decrease) 9,831,295 (21,129,476) 

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


Financial Highlights

Fidelity SAI International Low Volatility Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,    
 2019 2018 2017 2016 2015 A 
Selected Per–Share Data      
Net asset value, beginning of period $10.49 $10.83 $9.76 $9.61 $10.00 
Income from Investment Operations      
Net investment income (loss)B .16 .27 .29 .28 .10 
Net realized and unrealized gain (loss) .57 (.42) 1.04 (.02) (.49) 
Total from investment operations .73 (.15) 1.33 .26 (.39) 
Distributions from net investment income (.24) (.19) (.22) (.10) – 
Distributions from net realized gain (.03) – (.05) –C – 
Total distributions (.27) (.19) (.26)D (.11)E – 
Net asset value, end of period $10.95 $10.49 $10.83 $9.76 $9.61 
Total ReturnF,G 7.12% (1.47)% 14.15% 2.75% (3.90)% 
Ratios to Average Net AssetsH,I      
Expenses before reductions .30%J .30% .31% .32% .40%J 
Expenses net of fee waivers, if any .20%J .20% .20% .20% .20%J 
Expenses net of all reductions .20%J .20% .20% .20% .20%J 
Net investment income (loss) 3.03%J 2.49% 2.86% 2.88% 2.51%J 
Supplemental Data      
Net assets, end of period (000 omitted) $1,710,405 $1,536,470 $1,814,457 $1,179,067 $737,119 
Portfolio turnover rateK 186%J 43% 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. Low Volatility Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of April 30, 2019

 % of fund's net assets 
Johnson & Johnson 3.5 
Berkshire Hathaway, Inc. Class B 3.4 
Visa, Inc. Class A 3.3 
Exxon Mobil Corp. 3.3 
Procter & Gamble Co. 3.0 
Verizon Communications, Inc. 2.8 
AT&T, Inc. 2.8 
McDonald's Corp. 2.6 
Oracle Corp. 2.5 
UnitedHealth Group, Inc. 2.4 
 29.6 

Top Five Market Sectors as of April 30, 2019

 % of fund's net assets 
Information Technology 19.6 
Financials 14.9 
Health Care 12.4 
Consumer Discretionary 10.5 
Consumer Staples 9.2 

Asset Allocation (% of fund's net assets)

As of April 30, 2019* 
   Stocks and Equity Futures 100.0% 


 * Foreign investments - 6.1%

Fidelity® SAI U.S. Low Volatility Index Fund

Schedule of Investments April 30, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.6%   
 Shares Value 
COMMUNICATION SERVICES - 7.2%   
Diversified Telecommunication Services - 5.6%   
AT&T, Inc. 2,684,315 $83,106,392 
Verizon Communications, Inc. 1,504,875 86,063,801 
  169,170,193 
Interactive Media & Services - 1.2%   
Alphabet, Inc. Class A (a) 12,842 15,397,044 
Facebook, Inc. Class A (a) 118,136 22,847,502 
  38,244,546 
Media - 0.4%   
Cable One, Inc. 2,719 2,883,581 
Omnicom Group, Inc. 121,831 9,750,135 
  12,633,716 
TOTAL COMMUNICATION SERVICES  220,048,455 
CONSUMER DISCRETIONARY - 10.5%   
Diversified Consumer Services - 0.2%   
Bright Horizons Family Solutions, Inc. (a) 32,726 4,193,837 
H&R Block, Inc. 131,142 3,568,374 
  7,762,211 
Hotels, Restaurants & Leisure - 5.2%   
Cracker Barrel Old Country Store, Inc. (b) 13,549 2,286,258 
Darden Restaurants, Inc. 69,454 8,167,790 
Domino's Pizza, Inc. 21,218 5,741,166 
Dunkin' Brands Group, Inc. 48,876 3,647,616 
McDonald's Corp. 403,272 79,674,449 
Starbucks Corp. 666,672 51,787,081 
Texas Roadhouse, Inc. Class A 33,661 1,818,031 
Vail Resorts, Inc. 26,617 6,091,300 
  159,213,691 
Household Durables - 0.2%   
NVR, Inc. (a) 1,638 5,163,762 
Internet & Direct Marketing Retail - 0.7%   
Amazon.com, Inc. (a) 10,724 20,660,000 
Multiline Retail - 0.5%   
Target Corp. 207,545 16,068,134 
Specialty Retail - 1.6%   
AutoZone, Inc. (a) 12,937 13,303,246 
TJX Companies, Inc. 638,771 35,055,752 
  48,358,998 
Textiles, Apparel & Luxury Goods - 2.1%   
Carter's, Inc. 25,902 2,743,281 
NIKE, Inc. Class B 581,385 51,063,045 
VF Corp. 98,476 9,297,119 
  63,103,445 
TOTAL CONSUMER DISCRETIONARY  320,330,241 
CONSUMER STAPLES - 9.2%   
Beverages - 2.2%   
Constellation Brands, Inc. Class A (sub. vtg.) 102,002 21,590,763 
PepsiCo, Inc. 355,810 45,561,471 
  67,152,234 
Food & Staples Retailing - 2.7%   
Sysco Corp. 203,800 14,341,406 
Walmart, Inc. 666,033 68,494,834 
  82,836,240 
Food Products - 0.6%   
Hormel Foods Corp. (b) 87,150 3,480,771 
McCormick & Co., Inc. (non-vtg.) 65,371 10,065,173 
The Hershey Co. 41,421 5,171,412 
  18,717,356 
Household Products - 3.7%   
Church & Dwight Co., Inc. 110,425 8,276,354 
Clorox Co. 78,481 12,535,770 
Procter & Gamble Co. 849,275 90,430,802 
  111,242,926 
TOTAL CONSUMER STAPLES  279,948,756 
ENERGY - 3.3%   
Oil, Gas & Consumable Fuels - 3.3%   
Exxon Mobil Corp. 1,234,874 99,135,685 
FINANCIALS - 14.9%   
Banks - 3.0%   
Bank of Hawaii Corp. 22,861 1,883,289 
Commerce Bancshares, Inc. 55,802 3,372,115 
First Republic Bank 88,596 9,357,510 
M&T Bank Corp. 74,421 12,656,779 
Peoples United Financial, Inc. 179,989 3,112,010 
U.S. Bancorp 866,558 46,204,873 
Wells Fargo & Co. 338,286 16,376,425 
  92,963,001 
Capital Markets - 2.9%   
Cboe Global Markets, Inc. 69,601 7,072,158 
CME Group, Inc. 203,171 36,347,292 
FactSet Research Systems, Inc. 17,828 4,918,210 
IntercontinentalExchange, Inc. 328,361 26,712,167 
MarketAxess Holdings, Inc. 21,872 6,087,634 
The NASDAQ OMX Group, Inc. 63,588 5,862,814 
  87,000,275 
Diversified Financial Services - 3.4%   
Berkshire Hathaway, Inc. Class B (a) 476,951 103,360,051 
Insurance - 5.1%   
Allstate Corp. 184,856 18,311,835 
American Financial Group, Inc. 39,112 4,049,265 
Arch Capital Group Ltd. (a) 214,702 7,252,634 
Athene Holding Ltd. (a) 62,745 2,833,564 
Brown & Brown, Inc. 131,031 4,160,234 
Chubb Ltd. 239,965 34,842,918 
Cincinnati Financial Corp. 64,795 6,231,983 
Everest Re Group Ltd. 23,756 5,594,538 
Loews Corp. 149,250 7,655,033 
Marsh & McLennan Companies, Inc. 271,474 25,597,283 
Progressive Corp. 307,381 24,021,825 
Reinsurance Group of America, Inc. 33,313 5,047,253 
Torchmark Corp. 52,991 4,645,191 
W.R. Berkley Corp. 80,084 4,909,149 
  155,152,705 
Mortgage Real Estate Investment Trusts - 0.4%   
Blackstone Mortgage Trust, Inc. 68,412 2,434,783 
Chimera Investment Corp. 107,367 2,058,225 
MFA Financial, Inc. 242,119 1,818,314 
Starwood Property Trust, Inc. 151,304 3,487,557 
Two Harbors Investment Corp. 135,587 1,879,236 
  11,678,115 
Thrifts & Mortgage Finance - 0.1%   
New York Community Bancorp, Inc. 225,603 2,623,763 
TOTAL FINANCIALS  452,777,910 
HEALTH CARE - 12.4%   
Health Care Equipment & Supplies - 1.2%   
Stryker Corp. 165,114 31,191,686 
Varian Medical Systems, Inc. (a) 45,845 6,242,714 
  37,434,400 
Health Care Providers & Services - 4.8%   
Anthem, Inc. 81,391 21,408,275 
Cigna Corp. 140,480 22,313,843 
Encompass Health Corp. 55,235 3,559,896 
HCA Holdings, Inc. 147,134 18,719,859 
MEDNAX, Inc. (a) 56,315 1,575,131 
Quest Diagnostics, Inc. 65,651 6,327,443 
UnitedHealth Group, Inc. 315,312 73,489,768 
  147,394,215 
Pharmaceuticals - 6.4%   
Eli Lilly & Co. (b) 504,148 59,005,482 
Johnson & Johnson 750,173 105,924,427 
Pfizer, Inc. 706,495 28,690,762 
  193,620,671 
TOTAL HEALTH CARE  378,449,286 
INDUSTRIALS - 8.8%   
Aerospace & Defense - 4.1%   
BWX Technologies, Inc. 42,771 2,185,598 
General Dynamics Corp. 143,929 25,722,991 
Lockheed Martin Corp. 127,974 42,657,573 
Northrop Grumman Corp. 91,033 26,391,377 
Raytheon Co. 159,919 28,400,015 
  125,357,554 
Air Freight & Logistics - 0.5%   
C.H. Robinson Worldwide, Inc. 78,543 6,361,983 
Expeditors International of Washington, Inc. 99,443 7,897,763 
  14,259,746 
Commercial Services & Supplies - 1.4%   
Cintas Corp. 32,380 7,030,993 
Republic Services, Inc. 119,162 9,868,997 
Rollins, Inc. 84,012 3,248,744 
Waste Management, Inc. 210,334 22,577,252 
  42,725,986 
Electrical Equipment - 0.4%   
Fortive Corp. 153,946 13,291,698 
Industrial Conglomerates - 1.7%   
3M Co. 149,756 28,380,260 
Honeywell International, Inc. 128,487 22,309,198 
  50,689,458 
Machinery - 0.1%   
Toro Co. 57,612 4,214,318 
Professional Services - 0.4%   
Verisk Analytics, Inc. 89,855 12,682,135 
Trading Companies & Distributors - 0.2%   
MSC Industrial Direct Co., Inc. Class A 21,048 1,760,665 
Watsco, Inc. 17,416 2,759,914 
  4,520,579 
TOTAL INDUSTRIALS  267,741,474 
INFORMATION TECHNOLOGY - 19.6%   
Communications Equipment - 0.6%   
F5 Networks, Inc. (a) 33,683 5,284,863 
Motorola Solutions, Inc. 84,558 12,253,300 
  17,538,163 
Electronic Equipment & Components - 1.3%   
Amphenol Corp. Class A 159,813 15,910,982 
Arrow Electronics, Inc. (a) 28,509 2,409,296 
Dell Technologies, Inc. (a) 238,617 16,085,172 
Dolby Laboratories, Inc. Class A 31,012 2,006,166 
Littelfuse, Inc. 12,124 2,437,530 
  38,849,146 
IT Services - 9.5%   
Accenture PLC Class A 367,336 67,101,267 
Amdocs Ltd. 84,977 4,680,533 
Automatic Data Processing, Inc. 244,072 40,122,996 
Broadridge Financial Solutions, Inc. 63,819 7,538,938 
CoreLogic, Inc. (a) 45,130 1,832,729 
Fidelity National Information Services, Inc. 166,627 19,317,068 
Fiserv, Inc. (a) 204,202 17,814,582 
Genpact Ltd. 73,613 2,672,152 
Jack Henry & Associates, Inc. 43,400 6,469,204 
MasterCard, Inc. Class A 28,978 7,367,367 
Paychex, Inc. 171,177 14,431,933 
Visa, Inc. Class A 617,012 101,455,283 
  290,804,052 
Semiconductors & Semiconductor Equipment - 2.0%   
Intel Corp. 1,181,520 60,304,781 
Software - 5.0%   
CDK Global, Inc. 70,680 4,263,418 
Check Point Software Technologies Ltd. (a) 67,249 8,120,989 
Intuit, Inc. 85,554 21,479,187 
j2 Global, Inc. 10,853 950,940 
Microsoft Corp. 322,371 42,101,653 
Oracle Corp. 1,360,352 75,268,276 
  152,184,463 
Technology Hardware, Storage & Peripherals - 1.2%   
Apple, Inc. 181,670 36,455,719 
TOTAL INFORMATION TECHNOLOGY  596,136,324 
MATERIALS - 2.8%   
Chemicals - 2.6%   
Ecolab, Inc. 138,532 25,500,971 
Linde PLC 288,515 52,007,714 
NewMarket Corp. 4,983 2,090,767 
  79,599,452 
Containers & Packaging - 0.2%   
Aptargroup, Inc. 34,890 3,881,164 
Bemis Co., Inc. 41,627 2,390,222 
  6,271,386 
TOTAL MATERIALS  85,870,838 
REAL ESTATE - 5.5%   
Equity Real Estate Investment Trusts (REITs) - 5.5%   
American Campus Communities, Inc. 67,507 3,186,330 
American Tower Corp. 33,618 6,565,595 
AvalonBay Communities, Inc. 75,604 15,191,112 
Crown Castle International Corp. 216,946 27,287,468 
CubeSmart 99,072 3,161,388 
EPR Properties 33,244 2,621,622 
Equity Lifestyle Properties, Inc. 48,575 5,668,703 
Extra Space Storage, Inc. 66,699 6,916,019 
Federal Realty Investment Trust (SBI) 41,381 5,538,847 
Invitation Homes, Inc. 160,017 3,978,023 
Mid-America Apartment Communities, Inc. 53,987 5,906,718 
National Health Investors, Inc. 22,520 1,698,684 
National Retail Properties, Inc. 84,298 4,435,761 
Public Storage 84,449 18,678,430 
Realty Income Corp. 155,781 10,906,228 
Simon Property Group, Inc. 178,896 31,074,235 
Store Capital Corp. 96,819 3,226,009 
Ventas, Inc. 188,545 11,521,985 
  167,563,157 
UTILITIES - 5.4%   
Electric Utilities - 2.9%   
Duke Energy Corp. 408,035 37,180,149 
Eversource Energy 150,192 10,762,759 
Southern Co. 418,983 22,298,275 
Xcel Energy, Inc. 289,222 16,341,043 
  86,582,226 
Gas Utilities - 0.1%   
Spire, Inc. 27,606 2,324,149 
Multi-Utilities - 2.1%   
CMS Energy Corp. 149,787 8,320,668 
Consolidated Edison, Inc. 170,130 14,658,401 
Dominion Resources, Inc. 278,798 21,710,000 
DTE Energy Co. 60,457 7,600,049 
WEC Energy Group, Inc. 153,273 12,021,201 
  64,310,319 
Water Utilities - 0.3%   
American Water Works Co., Inc. 87,960 9,516,392 
TOTAL UTILITIES  162,733,086 
TOTAL COMMON STOCKS   
(Cost $2,713,200,081)  3,030,735,212 
Money Market Funds - 1.5%   
Fidelity Cash Central Fund, 2.49% (c) 20,410,229 20,414,311 
Fidelity Securities Lending Cash Central Fund 2.49% (c)(d) 26,477,402 26,480,050 
TOTAL MONEY MARKET FUNDS   
(Cost $46,894,339)  46,894,361 
TOTAL INVESTMENT IN SECURITIES - 101.1%   
(Cost $2,760,094,420)  3,077,629,573 
NET OTHER ASSETS (LIABILITIES) - (1.1)%  (33,464,221) 
NET ASSETS - 100%  $3,044,165,352 

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) 69 June 2019 $10,172,325 $388,995 $388,995 
CME E-mini S&P MidCap 400 Index Contracts (United States) 17 June 2019 3,354,780 115,689 115,689 
TOTAL FUTURES CONTRACTS     $504,684 

The notional amount of futures purchased as a percentage of Net Assets is .4%

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 $227,444 
Fidelity Securities Lending Cash Central Fund 406,926 
Total $634,370 

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, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $220,048,455 $220,048,455 $-- $-- 
Consumer Discretionary 320,330,241 320,330,241 -- -- 
Consumer Staples 279,948,756 279,948,756 -- -- 
Energy 99,135,685 99,135,685 -- -- 
Financials 452,777,910 452,777,910 -- -- 
Health Care 378,449,286 378,449,286 -- -- 
Industrials 267,741,474 267,741,474 -- -- 
Information Technology 596,136,324 596,136,324 -- -- 
Materials 85,870,838 85,870,838 -- -- 
Real Estate 167,563,157 167,563,157 -- -- 
Utilities 162,733,086 162,733,086 -- -- 
Money Market Funds 46,894,361 46,894,361 -- -- 
Total Investments in Securities: $3,077,629,573 $3,077,629,573 $-- $-- 
Derivative Instruments:     
Assets     
Futures Contracts $504,684 $504,684 $-- $-- 
Total Assets $504,684 $504,684 $-- $-- 
Total Derivative Instruments: $504,684 $504,684 $-- $-- 

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, 2019. 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) $504,684 $0 
Total Equity Risk 504,684 0 
Total Value of Derivatives $504,684 $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 distributable earnings.

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


Fidelity® SAI U.S. Low Volatility Index Fund

Financial Statements

Statement of Assets and Liabilities

  April 30, 2019 (Unaudited) 
Assets   
Investment in securities, at value (including securities loaned of $23,594,738) — See accompanying schedule:
Unaffiliated issuers (cost $2,713,200,081) 		$3,030,735,212  
Fidelity Central Funds (cost $46,894,339) 46,894,361  
Total Investment in Securities (cost $2,760,094,420)  $3,077,629,573 
Segregated cash with brokers for derivative instruments  757,200 
Receivable for fund shares sold  5,584,531 
Dividends receivable  4,135,963 
Distributions receivable from Fidelity Central Funds  32,078 
Receivable for daily variation margin on futures contracts  16,025 
Prepaid expenses  876 
Receivable from investment adviser for expense reductions  168,249 
Total assets  3,088,324,495 
Liabilities   
Payable for investments purchased $14,974,159  
Payable for fund shares redeemed 2,089,932  
Accrued management fee 246,561  
Other affiliated payables 243,543  
Other payables and accrued expenses 128,223  
Collateral on securities loaned 26,476,725  
Total liabilities  44,159,143 
Net Assets  $3,044,165,352 
Net Assets consist of:   
Paid in capital  $2,612,438,341 
Total distributable earnings (loss)  431,727,011 
Net Assets, for 214,651,688 shares outstanding  $3,044,165,352 
Net Asset Value, offering price and redemption price per share ($3,044,165,352 ÷ 214,651,688 shares)  $14.18 

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


Statement of Operations

  Six months ended April 30, 2019 (Unaudited) 
Investment Income   
Dividends  $27,865,246 
Interest  11,565 
Income from Fidelity Central Funds  634,370 
Total income  28,511,181 
Expenses   
Management fee $1,265,830  
Transfer agent fees 949,373  
Accounting and security lending fees 308,762  
Custodian fees and expenses 49,570  
Independent trustees' fees and expenses 5,055  
Registration fees 165,734  
Audit 29,681  
Legal 4,099  
Interest 1,697  
Miscellaneous 6,276  
Total expenses before reductions 2,786,077  
Expense reductions (879,723)  
Total expenses after reductions  1,906,354 
Net investment income (loss)  26,604,827 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 107,726,226  
Fidelity Central Funds 109  
Futures contracts 1,097,967  
Total net realized gain (loss)  108,824,302 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers 139,934,725  
Fidelity Central Funds 22  
Futures contracts 433,360  
Total change in net unrealized appreciation (depreciation)  140,368,107 
Net gain (loss)  249,192,409 
Net increase (decrease) in net assets resulting from operations  $275,797,236 

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


Statement of Changes in Net Assets

 Six months ended April 30, 2019 (Unaudited) Year ended October 31, 2018 
Increase (Decrease) in Net Assets   
Operations   
Net investment income (loss) $26,604,827 $29,733,823 
Net realized gain (loss) 108,824,302 15,342,381 
Change in net unrealized appreciation (depreciation) 140,368,107 88,341,936 
Net increase (decrease) in net assets resulting from operations 275,797,236 133,418,140 
Distributions to shareholders (54,799,991) (36,966,621) 
Share transactions   
Proceeds from sales of shares 1,122,556,037 1,711,878,423 
Reinvestment of distributions 16,697,276 11,753,177 
Cost of shares redeemed (295,758,536) (688,798,167) 
Net increase (decrease) in net assets resulting from share transactions 843,494,777 1,034,833,433 
Total increase (decrease) in net assets 1,064,492,022 1,131,284,952 
Net Assets   
Beginning of period 1,979,673,330 848,388,378 
End of period $3,044,165,352 $1,979,673,330 
Other Information   
Shares   
Sold 85,414,460 135,974,905 
Issued in reinvestment of distributions 1,300,351 934,275 
Redeemed (22,281,161) (54,004,780) 
Net increase (decrease) 64,433,650 82,904,400 

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


Financial Highlights

Fidelity SAI U.S. Low Volatility Index Fund

 Six months ended (Unaudited) April 30, Years endedOctober 31,    
 2019 2018 2017 2016 2015 A 
Selected Per–Share Data      
Net asset value, beginning of period $13.18 $12.60 $10.86 $10.22 $10.00 
Income from Investment Operations      
Net investment income (loss)B .14 .26 .24 .23 .09 
Net realized and unrealized gain (loss) 1.19 .82 1.74 .53 .13 
Total from investment operations 1.33 1.08 1.98 .76 .22 
Distributions from net investment income (.20) (.14) (.24) (.12) – 
Distributions from net realized gain (.13) (.37) – –C – 
Total distributions (.33) (.50)D (.24) (.12) – 
Net asset value, end of period $14.18 $13.18 $12.60 $10.86 $10.22 
Total ReturnE,F 10.31% 8.79% 18.60% 7.56% 2.20% 
Ratios to Average Net AssetsG,H      
Expenses before reductions .22%I .23% .26% .23% .31%I 
Expenses net of fee waivers, if any .15%I .15% .15% .15% .15%I 
Expenses net of all reductions .15%I .15% .15% .15% .15%I 
Net investment income (loss) 2.10%I 2.00% 2.04% 2.12% 2.08%I 
Supplemental Data      
Net assets, end of period (000 omitted) $3,044,165 $1,979,673 $848,388 $948,587 $669,739 
Portfolio turnover rateJ 130%I 39% 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, 2019

1. Organization.

Fidelity SAI Emerging Markets Low Volatility Index Fund, Fidelity SAI International Low Volatility Index Fund (formerly Fidelity SAI International Minimum Volatility Index Fund) and Fidelity SAI U.S. Low Volatility Index Fund (formerly 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 rate 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. 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, 2019 is included at the end of each Fund's Schedule of Investments.

Foreign Currency. The Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

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

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

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 Emerging Markets Low Volatility Index Fund and Fidelity SAI International Low Volatility Index Fund are 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 each applicable Fund's Statement of Assets & Liabilities.

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

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

Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), 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 Emerging Markets Low Volatility Index Fund $617,376,685 $24,349,796 $(13,920,794) $10,429,002 
Fidelity SAI International Low Volatility Index Fund 1,625,491,714 106,492,954 (42,725,072) 63,767,882 
Fidelity SAI U.S. Low Volatility Index Fund 2,767,555,488 345,609,492 (35,030,723) 310,578,769 

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.

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. 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, are noted in the table below.

 Purchases ($) Sales ($) 
Fidelity SAI Emerging Markets Low Volatility Index Fund 616,667,108 9,229,988 
Fidelity SAI International Low Volatility Index Fund 1,590,588,229 1,429,055,452 
Fidelity SAI U.S. Low Volatility Index Fund 2,462,571,294 1,649,480,501 

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 Emerging Markets Low Volatility Index Fund .15% 
Fidelity SAI International Low Volatility Index Fund .15% 
Fidelity SAI U.S. Low Volatility Index Fund .10% 

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

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. FSC maintains each Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Prior to April 1, 2019, FSC had a separate agreement with each Fund for administration of the security lending program, based on the number and duration of lending transactions. For the period, the total fees paid for accounting and administration of securities lending were equivalent to the following annualized rates:

 % of Average Net Assets 
Fidelity SAI Emerging Markets Low Volatility Index Fund .04 
Fidelity SAI International Low Volatility Index Fund .03 
Fidelity SAI U.S. Low Volatility Index Fund .02 

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 Low Volatility Index Fund Borrower $47,196,778 2.65% $31,253 
Fidelity SAI U.S. Low Volatility Index Fund Borrower $5,858,250 2.61% $1,697 

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 Commitment fees or Miscellaneous expenses on the Statement of Operations, and are as follows:

Fidelity SAI Emerging Markets Low Volatility Index Fund $92 
Fidelity SAI International Low Volatility Index Fund 2,314 
Fidelity SAI U.S. Low Volatility Index Fund 3,380 

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. 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 Funds. 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. During the period, there were no securities loaned to FCM. Security lending activity was as follows:

 Total Security Lending Income 
Fidelity SAI International Low Volatility Index Fund $135,832 
Fidelity SAI U.S. Low Volatility Index Fund 406,926 

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 February 29, 2020. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement.

The following Funds were in reimbursement during the period:

 Expense Limitations Reimbursement 
Fidelity SAI Emerging Markets Low Volatility Index Fund .25% $249,624 
Fidelity SAI International Low Volatility Index Fund .20% 767,508 
Fidelity SAI U.S. Low Volatility Index Fund .15% 877,890 

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 International Low Volatility Index Fund $9,446 
Fidelity SAI U.S. Low Volatility Index Fund 1,833 

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 Value Fund Strategic Advisers Fidelity U.S. Total Stock Fund Strategic Advisers Emerging Market Fund Strategic
Advisers Fidelity
Emerging
Markets Fund 
Fidelity SAI Emerging Markets Low Volatility Index Fund –% –% –% 22% 14% 
Fidelity SAI International Low Volatility Index Fund 34% –% –% –% –% 
Fidelity SAI U.S. Low Volatility Index Fund –% 12% 19% –% –% 

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 Emerging Markets Low Volatility Index Fund 36% 
Fidelity SAI International Low Volatility Index Fund 34% 
Fidelity SAI U.S. Low Volatility Index Fund 31% 

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 actual expense Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2018 to April 30, 2019) for SAI International Low Volatility Index Fund and SAI U.S. Low Volatility Index Fund and for the period (January 30, 2019 to April 30, 2019) for SAI Emerging Markets Low Volatility Index Fund. The hypothetical expense Example is based on an investment of $1,000 invested for the one-half year period (November 1, 2018 to April 30, 2019).

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
 		Ending
Account Value
April 30, 2019 		Expenses Paid
During Period
 
Fidelity SAI Emerging Markets Low Volatility Index Fund .25%    
Actual  $1,000.00 $1,028.00 $.63-B 
Hypothetical-C  $1,000.00 $1,023.55 $1.25-D 
Fidelity SAI International Low Volatility Index Fund .20%    
Actual  $1,000.00 $1,071.20 $1.03-B 
Hypothetical-C  $1,000.00 $1,023.80 $1.00-D 
Fidelity SAI U.S. Low Volatility Index Fund .15%    
Actual  $1,000.00 $1,103.10 $.78-B 
Hypothetical-C  $1,000.00 $1,024.05 $.75-D 

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

 B Actual expenses are equal to each Funds' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the period November 1, 2018 to April 30, 2019) for SAI International Low Volatility Index Fund and SAI U.S. Low Volatility Index Fund and multiplied by 91/365 (to reflect the period January 30, 2019 to April 30, 2019) for SAI Emerging Markets Low Volatility Index Fund.

 C 5% return per year before expenses

 D Hypothetical 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)

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity SAI Emerging Markets Low Volatility Index Fund

On September 20, 2018, 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). FMR and Geode are referred to herein as the Investment Advisers. 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 investment professional 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 staff, including their size, education, experience, and resources, as well as Fidelity's approach to recruiting, 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 the nature, extent, quality, and cost of advisory, administrative, and shareholder services to be performed by 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. The Board also considered the nature and extent of the supervision of third party service providers, principally custodians, subcustodians and pricing vendors.

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 fund's shareholders.

Competitiveness of Management Fee and Total Expense Ratio.  In reviewing the Advisory Contracts, the Board considered the fund's proposed management fee and the projected total expense ratio of the fund. The Board noted that the fund's proposed management fee rate is lower than the median fee rate of funds with similar Lipper investment objective categories and comparable investment mandates. The Board also noted that, although the projected total expense ratio of the fund is above the median expense ratio of those funds and classes used by the Board for management fee comparisons that have a similar sales load structure, the competitive universe is composed predominantly of non factor-based developed market passive index funds.

The Board also noted that FMR had contractually agreed to reimburse the fund to the extent total operating expenses (excluding interest, certain taxes, certain securities lending costs, brokerage commissions, fees and expenses of the Independent Trustees, proxy and shareholder meeting expenses, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of its average net assets exceed 0.25% through February 29, 2020.

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 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.

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 ultimately concluded that the advisory fee structures are fair and reasonable, and that the fund's Advisory Contracts should be approved.





Fidelity Investments

SV1-SV2-SANN-0619
1.9867662.103


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 Trust’s Board of Trustees.


Item 11.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Salem Street Trust’s (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 Trust’s 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 Trust’s 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 25, 2019


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 25, 2019



By:

/s/John J. Burke III


John J. Burke III


Chief Financial Officer



Date:

June 25, 2019