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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMN-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File number:811-09877
Calvert Responsible Index Series, Inc.
(Exact Name of Registrant as Specified in Charter)
1825 Connecticut Avenue NW, Suite 400, Washington, DC 20009
(Address of Principal Executive Offices)
Maureen A. Gemma
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Service)
(202)238-2200
(Registrant’s telephone number)
September 30
Date of Fiscal Year End
March 31, 2020
Date of Reporting Period
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Item 1. | Report to Stockholders. |
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% Average Annual Total Returns1,2 | Class Inception Date | Performance Inception Date | Six Months | One Year | Five Years | Since Inception |
Class A at NAV | 06/19/2015 | 06/19/2015 | (4.50)% | 0.84% | —% | 9.36% |
Class A with 4.75% Maximum Sales Charge | — | — | (9.04) | (3.95) | — | 8.25 |
Class I at NAV | 06/19/2015 | 06/19/2015 | (4.42) | 1.06 | — | 9.71 |
·· | ||||||
Russell 1000® Growth Index | — | — | (4.98)% | 0.91% | 10.35% | 10.31% |
Calvert US Large-Cap Growth Responsible Index | — | — | (4.31) | 1.36 | — | 9.99 |
% Total Annual Operating Expense Ratios3 | Class A | Class I |
Gross | 0.77% | 0.52% |
Net | 0.49 | 0.24 |
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Top 10 Holdings (% of net assets)* | |
Microsoft Corp. | 8.6% |
Apple, Inc. | 6.6 |
Amazon.com, Inc. | 6.1 |
Alphabet, Inc., Class A | 4.6 |
Visa, Inc., Class A | 2.1 |
MasterCard, Inc., Class A | 1.7 |
Home Depot, Inc. (The) | 1.6 |
Netflix, Inc. | 1.3 |
NVIDIA Corp. | 1.3 |
Adobe, Inc. | 1.3 |
Total | 35.2% |
* | Excludes cash and cash equivalents. |
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1 | Russell 1000® Growth Index is an unmanaged index of U.S. large-cap growth stocks. Calvert US Large-Cap Growth Responsible Index (the “Calvert Index”) is composed of common stocks of large growth companies that operate their businesses in a manner that is consistent with the Calvert Principles for Responsible Investment. Large growth companies are selected from the 1,000 largest publicly traded U.S. companies based on market capitalization and growth style factors, excluding real estate investment trusts and business development companies. The Calvert Principles of Responsible Investment serve as a framework for considering environmental, social and governance factors that may affect investment performance. Stocks are weighted in the Calvert Index based on their float-adjusted market capitalization within the relevant sector, subject to certain prescribed limits. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 | Total Returns at NAV do not include applicable sales charges. If sales charges were deducted, the returns would be lower. Total Returns shown with maximum sales charge reflect the stated maximum sales charge. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares. Performance since inception for an index, if presented, is the performance since the Fund's or oldest share class' inception, as applicable.Calvert Research and Management became the investment adviser to the Fund on December 31, 2016. Performance reflected prior to such date is that of the Fund’s former investment adviser. |
3 | Source: Fund prospectus. Net expense ratios reflect a contractual expense reimbursement that continues through 1/31/21. Without the reimbursement, performance would have been lower. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report. |
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Beginning Account Value (10/1/19) | Ending Account Value (3/31/20) | Expenses Paid During Period* (10/1/19 – 3/31/20) | Annualized Expense Ratio | |
Actual | ||||
Class A | $1,000.00 | $955.00 | $2.39** | 0.49% |
Class I | $1,000.00 | $955.80 | $1.17** | 0.24% |
Hypothetical | ||||
(5% return per year before expenses) | ||||
Class A | $1,000.00 | $1,022.55 | $2.48** | 0.49% |
Class I | $1,000.00 | $1,023.80 | $1.21** | 0.24% |
* | Expenses are equal to the Fund's annualized expense ratio for the indicated Class, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). The Example assumes that the $1,000 was invested at the net asset value per share determined at the close of business on September 30, 2019. |
** | Absent a waiver and/or reimbursement of expenses by an affiliate, expenses would be higher. |
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Common Stocks — 99.9% |
Security | Shares | Value |
Aerospace & Defense — 0.2% | ||
Axon Enterprise, Inc.(1) | 696 | $ 49,256 |
HEICO Corp. | 475 | 35,440 |
Hexcel Corp. | 859 | 31,946 |
Mercury Systems, Inc.(1) | 378 | 26,967 |
Moog, Inc., Class A | 114 | 5,760 |
$ 149,369 | ||
Air Freight & Logistics — 0.3% | ||
C.H. Robinson Worldwide, Inc. | 277 | $ 18,338 |
Expeditors International of Washington, Inc. | 1,354 | 90,339 |
United Parcel Service, Inc., Class B | 1,846 | 172,453 |
$281,130 | ||
Airlines — 0.0%(2) | ||
Alaska Air Group, Inc. | 154 | $4,384 |
JetBlue Airways Corp.(1) | 1,817 | 16,262 |
Southwest Airlines Co. | 542 | 19,301 |
Spirit Airlines, Inc.(1) | 207 | 2,668 |
$42,615 | ||
Auto Components — 0.1% | ||
Aptiv PLC | 546 | $26,885 |
Autoliv, Inc. | 182 | 8,374 |
Gentex Corp. | 1,229 | 27,234 |
$62,493 | ||
Automobiles — 0.7% | ||
Tesla, Inc.(1) | 1,201 | $629,324 |
Thor Industries, Inc. | 174 | 7,339 |
$636,663 | ||
Banks — 0.1% | ||
Commerce Bancshares, Inc. | 151 | $7,603 |
Community Bank System, Inc. | 143 | 8,408 |
First Financial Bankshares, Inc. | 282 | 7,569 |
First Republic Bank | 521 | 42,868 |
Glacier Bancorp, Inc. | 156 | 5,305 |
SVB Financial Group(1) | 93 | 14,050 |
Western Alliance Bancorp | 177 | 5,418 |
$91,221 | ||
Beverages — 1.2% | ||
Coca-Cola Co. (The) | 11,072 | $489,936 |
Coca-Cola Consolidated, Inc. | 48 | 10,009 |
Security | Shares | Value |
Beverages (continued) | ||
PepsiCo, Inc. | 4,790 | $ 575,279 |
$ 1,075,224 | ||
Biotechnology — 3.8% | ||
AbbVie, Inc. | 10,373 | $ 790,319 |
ACADIA Pharmaceuticals, Inc.(1)(3) | 1,000 | 42,250 |
Alexion Pharmaceuticals, Inc.(1) | 2,002 | 179,759 |
Alkermes PLC(1) | 1,267 | 18,270 |
Alnylam Pharmaceuticals, Inc.(1)(3) | 1,006 | 109,503 |
Amgen, Inc. | 1,929 | 391,066 |
Biogen, Inc.(1) | 1,095 | 346,436 |
BioMarin Pharmaceutical, Inc.(1) | 1,744 | 147,368 |
Bluebird Bio, Inc.(1)(3) | 452 | 20,774 |
Blueprint Medicines Corp.(1) | 106 | 6,199 |
Exact Sciences Corp.(1)(3) | 1,365 | 79,170 |
Exelixis, Inc.(1) | 2,525 | 43,480 |
Incyte Corp.(1) | 1,699 | 124,418 |
Ionis Pharmaceuticals, Inc.(1) | 1,388 | 65,625 |
Neurocrine Biosciences, Inc.(1) | 870 | 75,298 |
Regeneron Pharmaceuticals, Inc.(1) | 774 | 377,936 |
Sarepta Therapeutics, Inc.(1) | 673 | 65,833 |
Seattle Genetics, Inc.(1) | 94 | 10,846 |
United Therapeutics Corp.(1) | 345 | 32,715 |
Vertex Pharmaceuticals, Inc.(1) | 2,468 | 587,261 |
$3,514,526 | ||
Building Products — 0.4% | ||
Allegion PLC | 1,186 | $109,136 |
Armstrong World Industries, Inc. | 327 | 25,970 |
Fortune Brands Home & Security, Inc. | 439 | 18,987 |
Masco Corp. | 1,390 | 48,052 |
Trane Technologies PLC | 1,841 | 152,048 |
Trex Co., Inc.(1) | 368 | 29,492 |
$383,685 | ||
Capital Markets — 2.3% | ||
Affiliated Managers Group, Inc. | 218 | $12,893 |
Ares Management Corp., Class A | 541 | 16,733 |
BlackRock, Inc. | 41 | 18,039 |
Cboe Global Markets, Inc. | 790 | 70,507 |
Charles Schwab Corp. (The) | 4,235 | 142,381 |
CME Group, Inc. | 1,669 | 288,587 |
E*Trade Financial Corp. | 695 | 23,852 |
Evercore, Inc., Class A | 203 | 9,350 |
FactSet Research Systems, Inc. | 317 | 82,636 |
Houlihan Lokey, Inc., Class A | 202 | 10,528 |
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Security | Shares | Value |
Capital Markets (continued) | ||
Interactive Brokers Group, Inc., Class A | 162 | $ 6,994 |
Intercontinental Exchange, Inc. | 1,929 | 155,767 |
Legg Mason, Inc. | 270 | 13,189 |
LPL Financial Holdings, Inc. | 310 | 16,873 |
MarketAxess Holdings, Inc. | 260 | 86,468 |
Moody's Corp. | 1,360 | 287,640 |
Morningstar, Inc. | 220 | 25,575 |
MSCI, Inc. | 700 | 202,272 |
Nasdaq, Inc. | 450 | 42,727 |
S&P Global, Inc. | 1,985 | 486,424 |
SEI Investments Co. | 840 | 38,926 |
T. Rowe Price Group, Inc. | 1,300 | 126,945 |
TD Ameritrade Holding Corp. | 824 | 28,560 |
$2,193,866 | ||
Chemicals — 1.6% | ||
Air Products & Chemicals, Inc. | 1,205 | $240,530 |
Ashland Global Holdings, Inc. | 337 | 16,874 |
Axalta Coating Systems, Ltd.(1) | 2,402 | 41,482 |
Celanese Corp. | 858 | 62,969 |
Ecolab, Inc. | 2,375 | 370,096 |
FMC Corp. | 1,372 | 112,079 |
Ingevity Corp.(1) | 536 | 18,867 |
International Flavors & Fragrances, Inc. | 1,037 | 105,857 |
PPG Industries, Inc. | 1,053 | 88,031 |
Sensient Technologies Corp. | 134 | 5,830 |
Sherwin-Williams Co. (The) | 873 | 401,161 |
WR Grace & Co. | 573 | 20,399 |
$1,484,175 | ||
Commercial Services & Supplies — 0.7% | ||
ADT, Inc. | 1,590 | $6,869 |
Cintas Corp. | 611 | 105,838 |
Copart, Inc.(1) | 1,395 | 95,585 |
IAA, Inc.(1) | 561 | 16,808 |
KAR Auction Services, Inc. | 460 | 5,520 |
MSA Safety, Inc. | 380 | 38,456 |
Republic Services, Inc. | 915 | 68,680 |
Tetra Tech, Inc. | 576 | 40,677 |
UniFirst Corp. | 48 | 7,252 |
Waste Management, Inc. | 2,984 | 276,199 |
$661,884 | ||
Communications Equipment — 0.7% | ||
Arista Networks, Inc.(1) | 442 | $89,527 |
Ciena Corp.(1) | 1,353 | 53,863 |
Security | Shares | Value |
Communications Equipment (continued) | ||
Cisco Systems, Inc. | 4,572 | $ 179,725 |
CommScope Holding Co., Inc.(1) | 1,455 | 13,255 |
F5 Networks, Inc.(1) | 481 | 51,289 |
Lumentum Holdings, Inc.(1) | 602 | 44,368 |
Motorola Solutions, Inc. | 1,273 | 169,207 |
ViaSat, Inc.(1) | 320 | 11,495 |
Viavi Solutions, Inc.(1) | 1,049 | 11,759 |
$ 624,488 | ||
Construction & Engineering — 0.0%(2) | ||
EMCOR Group, Inc. | 88 | $5,396 |
MasTec, Inc.(1) | 161 | 5,270 |
$10,666 | ||
Consumer Finance — 0.2% | ||
American Express Co. | 1,534 | $131,326 |
Credit Acceptance Corp.(1) | 90 | 23,012 |
FirstCash, Inc. | 259 | 18,581 |
LendingTree, Inc.(1) | 44 | 8,069 |
$180,988 | ||
Containers & Packaging — 0.6% | ||
AptarGroup, Inc. | 738 | $73,460 |
Ardagh Group S.A. | 496 | 5,883 |
Avery Dennison Corp. | 1,086 | 110,631 |
Ball Corp. | 4,150 | 268,339 |
Berry Global Group, Inc.(1) | 762 | 25,687 |
Crown Holdings, Inc.(1) | 506 | 29,368 |
Sonoco Products Co. | 153 | 7,092 |
$520,460 | ||
Distributors — 0.1% | ||
Genuine Parts Co. | 97 | $6,531 |
LKQ Corp.(1) | 669 | 13,721 |
Pool Corp. | 291 | 57,260 |
$77,512 | ||
Diversified Consumer Services — 0.2% | ||
Bright Horizons Family Solutions, Inc.(1) | 544 | $55,488 |
Chegg, Inc.(1) | 377 | 13,489 |
frontdoor, Inc.(1) | 620 | 21,564 |
Grand Canyon Education, Inc.(1) | 364 | 27,768 |
Service Corp. International | 340 | 13,297 |
ServiceMaster Global Holdings, Inc.(1) | 511 | 13,797 |
Strategic Education, Inc. | 101 | 14,116 |
$159,519 |
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Security | Shares | Value |
Diversified Telecommunication Services — 0.0%(2) | ||
Iridium Communications, Inc.(1) | 703 | $ 15,698 |
Vonage Holdings Corp.(1) | 1,667 | 12,052 |
$ 27,750 | ||
Electric Utilities — 0.8% | ||
Alliant Energy Corp. | 198 | $ 9,562 |
Eversource Energy | 130 | 10,167 |
NextEra Energy, Inc. | 2,909 | 699,964 |
Xcel Energy, Inc. | 471 | 28,401 |
$748,094 | ||
Electrical Equipment — 0.5% | ||
Acuity Brands, Inc. | 272 | $23,299 |
AMETEK, Inc. | 2,729 | 196,543 |
Emerson Electric Co. | 658 | 31,354 |
Generac Holdings, Inc.(1) | 763 | 71,089 |
Hubbell, Inc. | 161 | 18,473 |
nVent Electric PLC | 400 | 6,748 |
Rockwell Automation, Inc. | 664 | 100,204 |
$447,710 | ||
Electronic Equipment, Instruments & Components — 1.0% | ||
Amphenol Corp., Class A | 3,675 | $267,834 |
CDW Corp. | 851 | 79,373 |
Corning, Inc. | 2,422 | 49,748 |
Dolby Laboratories, Inc., Class A | 271 | 14,691 |
FLIR Systems, Inc. | 558 | 17,794 |
IPG Photonics Corp.(1) | 286 | 31,540 |
Keysight Technologies, Inc.(1) | 2,427 | 203,091 |
National Instruments Corp. | 371 | 12,273 |
Novanta, Inc.(1) | 428 | 34,188 |
Trimble, Inc.(1) | 3,584 | 114,079 |
Zebra Technologies Corp., Class A(1) | 398 | 73,073 |
$897,684 | ||
Energy Equipment & Services — 0.0%(2) | ||
Baker Hughes Co. | 833 | $8,746 |
$8,746 | ||
Entertainment — 2.8% | ||
Activision Blizzard, Inc. | 4,338 | $258,024 |
Cinemark Holdings, Inc. | 270 | 2,751 |
Electronic Arts, Inc.(1) | 2,334 | 233,797 |
Liberty Media Corp-Liberty Formula One, Series A(1) | 203 | 5,241 |
Lions Gate Entertainment Corp., Class A(1) | 834 | 5,071 |
Live Nation Entertainment, Inc.(1) | 1,022 | 46,460 |
Security | Shares | Value |
Entertainment (continued) | ||
Madison Square Garden Co. (The), Class A(1) | 116 | $ 24,524 |
Netflix, Inc.(1) | 3,312 | 1,243,656 |
Roku, Inc.(1) | 665 | 58,174 |
Take-Two Interactive Software, Inc.(1) | 874 | 103,665 |
Walt Disney Co. (The) | 5,742 | 554,677 |
World Wrestling Entertainment, Inc., Class A(3) | 325 | 11,027 |
Zynga, Inc., Class A(1) | 6,270 | 42,950 |
$ 2,590,017 | ||
Food & Staples Retailing — 0.9% | ||
Costco Wholesale Corp. | 1,731 | $493,560 |
Sysco Corp. | 2,087 | 95,230 |
Walmart, Inc. | 1,984 | 225,422 |
$814,212 | ||
Food Products — 1.2% | ||
Campbell Soup Co. | 1,042 | $48,099 |
Darling Ingredients, Inc.(1) | 1,944 | 37,266 |
Flowers Foods, Inc. | 330 | 6,772 |
General Mills, Inc. | 1,003 | 52,928 |
Hershey Co. (The) | 1,703 | 225,647 |
Hormel Foods Corp.(3) | 1,642 | 76,583 |
J&J Snack Foods Corp. | 92 | 11,132 |
JM Smucker Co. (The) | 282 | 31,302 |
Kellogg Co. | 136 | 8,159 |
Lamb Weston Holdings, Inc. | 1,602 | 91,474 |
Lancaster Colony Corp. | 206 | 29,796 |
McCormick & Co., Inc. | 1,231 | 173,830 |
Mondelez International, Inc., Class A | 5,326 | 266,726 |
Post Holdings, Inc.(1) | 387 | 32,109 |
TreeHouse Foods, Inc.(1) | 182 | 8,035 |
$1,099,858 | ||
Gas Utilities — 0.0%(2) | ||
New Jersey Resources Corp. | 448 | $15,219 |
ONE Gas, Inc. | 110 | 9,198 |
UGI Corp. | 517 | 13,788 |
$38,205 | ||
Health Care Equipment & Supplies — 6.1% | ||
Abbott Laboratories | 13,478 | $1,063,549 |
ABIOMED, Inc.(1) | 449 | 65,177 |
Align Technology, Inc.(1) | 645 | 112,198 |
Baxter International, Inc. | 3,159 | 256,479 |
Becton, Dickinson and Co. | 2,478 | 569,370 |
Boston Scientific Corp.(1) | 13,198 | 430,651 |
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Security | Shares | Value |
Health Care Equipment & Supplies (continued) | ||
Cantel Medical Corp. | 305 | $ 10,950 |
Cooper Cos., Inc. (The) | 486 | 133,976 |
Danaher Corp. | 3,952 | 546,996 |
DENTSPLY SIRONA, Inc. | 1,067 | 41,432 |
DexCom, Inc.(1) | 840 | 226,187 |
Edwards Lifesciences Corp.(1) | 1,958 | 369,318 |
Globus Medical, Inc., Class A(1) | 664 | 28,240 |
Haemonetics Corp.(1) | 451 | 44,947 |
Hill-Rom Holdings, Inc. | 684 | 68,810 |
Hologic, Inc.(1) | 2,241 | 78,659 |
ICU Medical, Inc.(1) | 150 | 30,265 |
IDEXX Laboratories, Inc.(1) | 755 | 182,891 |
Insulet Corp.(1) | 574 | 95,100 |
Integra LifeSciences Holdings Corp.(1) | 587 | 26,221 |
Intuitive Surgical, Inc.(1) | 1,071 | 530,370 |
Masimo Corp.(1) | 473 | 83,778 |
Merit Medical Systems, Inc.(1) | 424 | 13,250 |
Neogen Corp.(1) | 457 | 30,614 |
Novocure, Ltd.(1) | 123 | 8,283 |
NuVasive, Inc.(1) | 420 | 21,277 |
Penumbra, Inc.(1) | 279 | 45,011 |
ResMed, Inc. | 1,340 | 197,369 |
STERIS PLC | 661 | 92,520 |
Teleflex, Inc. | 408 | 119,487 |
Varian Medical Systems, Inc.(1) | 708 | 72,683 |
West Pharmaceutical Services, Inc. | 675 | 102,769 |
$5,698,827 | ||
Health Care Providers & Services — 0.7% | ||
Amedisys, Inc.(1) | 311 | $57,081 |
Anthem, Inc. | 322 | 73,107 |
Centene Corp.(1) | 870 | 51,687 |
Chemed Corp. | 163 | 70,611 |
Covetrus, Inc.(1)(3) | 605 | 4,925 |
DaVita, Inc.(1) | 880 | 66,933 |
Encompass Health Corp. | 335 | 21,450 |
Ensign Group, Inc. (The) | 354 | 13,314 |
HCA Healthcare, Inc. | 834 | 74,935 |
HealthEquity, Inc.(1) | 493 | 24,941 |
Henry Schein, Inc.(1) | 396 | 20,006 |
Humana, Inc. | 241 | 75,679 |
Laboratory Corp. of America Holdings(1) | 347 | 43,857 |
LHC Group, Inc.(1) | 238 | 33,367 |
Molina Healthcare, Inc.(1) | 61 | 8,522 |
Premier, Inc., Class A(1) | 569 | 18,618 |
Security | Shares | Value |
Health Care Providers & Services (continued) | ||
Quest Diagnostics, Inc. | 181 | $ 14,534 |
$ 673,567 | ||
Health Care Technology — 0.4% | ||
Cerner Corp. | 2,510 | $ 158,105 |
Omnicell, Inc.(1) | 283 | 18,559 |
Veeva Systems, Inc., Class A(1) | 1,102 | 172,320 |
$ 348,984 | ||
Hotels, Restaurants & Leisure — 2.0% | ||
Chipotle Mexican Grill, Inc.(1) | 305 | $199,592 |
Choice Hotels International, Inc. | 316 | 19,355 |
Cracker Barrel Old Country Store, Inc.(3) | 61 | 5,076 |
Darden Restaurants, Inc. | 725 | 39,483 |
Domino's Pizza, Inc. | 414 | 134,165 |
Dunkin' Brands Group, Inc. | 826 | 43,861 |
Extended Stay America, Inc. | 585 | 4,276 |
Hilton Worldwide Holdings, Inc. | 1,645 | 112,255 |
Hyatt Hotels Corp., Class A | 116 | 5,556 |
Marriott International, Inc., Class A | 1,532 | 114,609 |
Marriott Vacations Worldwide Corp. | 282 | 15,674 |
Planet Fitness, Inc., Class A(1) | 618 | 30,097 |
Royal Caribbean Cruises, Ltd. | 296 | 9,522 |
Six Flags Entertainment Corp. | 175 | 2,195 |
Starbucks Corp. | 9,931 | 652,864 |
Texas Roadhouse, Inc. | 386 | 15,942 |
Vail Resorts, Inc. | 195 | 28,803 |
Wendy's Co. (The) | 454 | 6,756 |
Wyndham Hotels & Resorts, Inc. | 670 | 21,112 |
Yum China Holdings, Inc. | 4,106 | 175,039 |
Yum! Brands, Inc. | 3,199 | 219,227 |
$1,855,459 | ||
Household Durables — 0.1% | ||
Helen of Troy, Ltd.(1) | 138 | $19,876 |
NVR, Inc.(1) | 32 | 82,212 |
Tempur Sealy International, Inc.(1) | 259 | 11,321 |
Whirlpool Corp. | 85 | 7,293 |
$120,702 | ||
Household Products — 1.8% | ||
Church & Dwight Co., Inc. | 1,681 | $107,887 |
Clorox Co. (The) | 737 | 127,685 |
Colgate-Palmolive Co. | 5,631 | 373,673 |
Energizer Holdings, Inc. | 371 | 11,223 |
Kimberly-Clark Corp. | 1,445 | 184,772 |
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Security | Shares | Value |
Household Products (continued) | ||
Procter & Gamble Co. (The) | 7,587 | $ 834,570 |
$ 1,639,810 | ||
Independent Power and Renewable Electricity Producers — 0.0%(2) | ||
Clearway Energy, Inc., Class C | 858 | $ 16,130 |
Ormat Technologies, Inc. | 341 | 23,072 |
$ 39,202 | ||
Industrial Conglomerates — 0.9% | ||
3M Co. | 2,707 | $ 369,533 |
Carlisle Cos., Inc. | 640 | 80,179 |
Roper Technologies, Inc. | 1,148 | 357,958 |
$807,670 | ||
Insurance — 0.8% | ||
Alleghany Corp. | 22 | $12,152 |
Arch Capital Group, Ltd.(1) | 427 | 12,152 |
Arthur J. Gallagher & Co. | 475 | 38,717 |
Axis Capital Holdings, Ltd. | 487 | 18,823 |
Brighthouse Financial, Inc.(1) | 586 | 14,164 |
Brown & Brown, Inc. | 1,238 | 44,840 |
Erie Indemnity Co., Class A | 119 | 17,641 |
Everest Re Group, Ltd. | 225 | 43,295 |
Kemper Corp. | 125 | 9,296 |
Marsh & McLennan Cos., Inc. | 3,300 | 285,318 |
Primerica, Inc. | 117 | 10,352 |
Progressive Corp. (The) | 1,449 | 106,994 |
RenaissanceRe Holdings, Ltd. | 74 | 11,050 |
RLI Corp. | 112 | 9,848 |
Selective Insurance Group, Inc. | 112 | 5,566 |
Willis Towers Watson PLC | 581 | 98,683 |
$738,891 | ||
Interactive Media & Services — 4.9% | ||
Alphabet, Inc., Class A(1) | 3,679 | $4,274,814 |
ANGI Homeservices, Inc., Class A(1)(3) | 1,134 | 5,953 |
Cargurus, Inc.(1) | 930 | 17,614 |
IAC/InterActiveCorp.(1) | 638 | 114,349 |
Match Group, Inc.(1) | 565 | 37,313 |
TripAdvisor, Inc. | 1,368 | 23,789 |
Twitter, Inc.(1) | 4,862 | 119,411 |
$4,593,243 | ||
Internet & Direct Marketing Retail — 6.8% | ||
Amazon.com, Inc.(1) | 2,906 | $5,665,886 |
Booking Holdings, Inc.(1) | 327 | 439,920 |
Security | Shares | Value |
Internet & Direct Marketing Retail (continued) | ||
eBay, Inc. | 3,945 | $ 118,587 |
Etsy, Inc.(1) | 846 | 32,520 |
Expedia Group, Inc. | 1,090 | 61,334 |
GrubHub, Inc.(1) | 766 | 31,199 |
Wayfair, Inc., Class A(1)(3) | 367 | 19,613 |
$ 6,369,059 | ||
IT Services — 9.0% | ||
Accenture PLC, Class A | 5,193 | $ 847,809 |
Akamai Technologies, Inc.(1) | 1,322 | 120,950 |
Amdocs, Ltd. | 698 | 38,369 |
Automatic Data Processing, Inc. | 2,949 | 403,069 |
Black Knight, Inc.(1) | 1,153 | 66,943 |
Booz Allen Hamilton Holding Corp., Class A | 863 | 59,236 |
Broadridge Financial Solutions, Inc. | 975 | 92,459 |
Cognizant Technology Solutions Corp., Class A | 3,287 | 152,747 |
EPAM Systems, Inc.(1) | 420 | 77,977 |
Fidelity National Information Services, Inc. | 4,910 | 597,252 |
Fiserv, Inc.(1) | 4,605 | 437,429 |
Gartner, Inc.(1) | 769 | 76,569 |
Genpact, Ltd. | 1,538 | 44,910 |
GoDaddy, Inc., Class A(1) | 1,398 | 79,840 |
Jack Henry & Associates, Inc. | 648 | 100,596 |
MasterCard, Inc., Class A | 6,535 | 1,578,595 |
MAXIMUS, Inc. | 614 | 35,735 |
MongoDB, Inc.(1)(3) | 437 | 59,668 |
Okta, Inc.(1) | 949 | 116,025 |
Paychex, Inc. | 2,293 | 144,276 |
PayPal Holdings, Inc.(1) | 8,210 | 786,025 |
Perspecta, Inc. | 1,330 | 24,259 |
Sabre Corp. | 455 | 2,698 |
Science Applications International Corp. | 108 | 8,060 |
Square, Inc., Class A(1) | 2,916 | 152,740 |
Twilio, Inc., Class A(1) | 1,061 | 94,949 |
VeriSign, Inc.(1) | 896 | 161,361 |
Visa, Inc., Class A | 12,548 | 2,021,734 |
WEX, Inc.(1) | 397 | 41,506 |
$8,423,786 | ||
Leisure Products — 0.1% | ||
Brunswick Corp. | 539 | $19,064 |
Hasbro, Inc. | 407 | 29,121 |
Mattel, Inc.(1) | 887 | 7,815 |
$56,000 |
Table of Contents
Security | Shares | Value |
Life Sciences Tools & Services — 2.3% | ||
Agilent Technologies, Inc. | 1,481 | $ 106,069 |
Bio-Rad Laboratories, Inc., Class A(1) | 78 | 27,344 |
Bio-Techne Corp. | 356 | 67,505 |
Bruker Corp. | 876 | 31,413 |
Charles River Laboratories International, Inc.(1) | 414 | 52,251 |
Illumina, Inc.(1) | 1,332 | 363,796 |
IQVIA Holdings, Inc.(1) | 1,742 | 187,892 |
Mettler-Toledo International, Inc.(1) | 214 | 147,769 |
PerkinElmer, Inc. | 1,029 | 77,463 |
PRA Health Sciences, Inc.(1) | 545 | 45,257 |
Repligen Corp.(1) | 411 | 39,678 |
Syneos Health, Inc.(1) | 540 | 21,287 |
Thermo Fisher Scientific, Inc. | 3,226 | 914,894 |
Waters Corp.(1) | 546 | 99,399 |
$2,182,017 | ||
Machinery — 2.1% | ||
Allison Transmission Holdings, Inc. | 1,108 | $36,132 |
Caterpillar, Inc. | 1,458 | 169,186 |
Colfax Corp.(1) | 457 | 9,049 |
Crane Co. | 108 | 5,311 |
Deere & Co. | 621 | 85,797 |
Donaldson Co., Inc. | 987 | 38,128 |
Dover Corp. | 939 | 78,820 |
Flowserve Corp. | 482 | 11,515 |
Fortive Corp. | 685 | 37,805 |
Graco, Inc. | 2,350 | 114,515 |
IDEX Corp. | 932 | 128,719 |
Illinois Tool Works, Inc. | 2,521 | 358,285 |
Ingersoll Rand, Inc.(1) | 1,458 | 36,158 |
ITT, Inc. | 255 | 11,567 |
John Bean Technologies Corp. | 387 | 28,742 |
Lincoln Electric Holdings, Inc. | 507 | 34,983 |
Middleby Corp. (The)(1) | 662 | 37,655 |
Nordson Corp. | 601 | 81,177 |
Parker-Hannifin Corp. | 298 | 38,660 |
Pentair PLC | 223 | 6,636 |
RBC Bearings, Inc.(1) | 305 | 34,401 |
Rexnord Corp. | 1,396 | 31,647 |
Snap-on, Inc. | 61 | 6,638 |
Stanley Black & Decker, Inc. | 1,328 | 132,800 |
Toro Co. (The) | 1,455 | 94,706 |
WABCO Holdings, Inc.(1) | 647 | 87,377 |
Watts Water Technologies, Inc., Class A | 207 | 17,523 |
Westinghouse Air Brake Technologies Corp. | 891 | 42,884 |
Woodward, Inc. | 629 | 37,388 |
Security | Shares | Value |
Machinery (continued) | ||
Xylem, Inc. | 1,865 | $ 121,467 |
$ 1,955,671 | ||
Media — 1.3% | ||
Altice USA, Inc., Class A(1) | 2,877 | $ 64,128 |
Cable One, Inc. | 31 | 50,964 |
Charter Communications, Inc., Class A(1) | 1,198 | 522,699 |
Comcast Corp., Class A | 9,425 | 324,032 |
Discovery, Inc., Class A(1) | 2,806 | 54,549 |
Liberty Broadband Corp., Class A(1) | 1,107 | 118,449 |
Liberty Latin America, Ltd., Class C(1) | 530 | 5,438 |
New York Times Co. (The), Class A | 845 | 25,950 |
Nexstar Media Group, Inc., Class A | 158 | 9,121 |
Sinclair Broadcast Group, Inc., Class A | 188 | 3,023 |
Sirius XM Holdings, Inc. | 9,065 | 44,781 |
$1,223,134 | ||
Multiline Retail — 0.3% | ||
Dollar General Corp. | 1,522 | $229,837 |
Ollie's Bargain Outlet Holdings, Inc.(1) | 342 | 15,848 |
$245,685 | ||
Multi-Utilities — 0.2% | ||
Ameren Corp. | 130 | $9,468 |
CenterPoint Energy, Inc. | 3,351 | 51,773 |
CMS Energy Corp. | 543 | 31,901 |
Sempra Energy | 943 | 106,550 |
$199,692 | ||
Personal Products — 0.3% | ||
Coty, Inc., Class A | 1,096 | $5,655 |
Estee Lauder Cos., Inc. (The), Class A | 1,659 | 264,345 |
$270,000 | ||
Pharmaceuticals — 4.4% | ||
Bristol-Myers Squibb Co. | 12,036 | $670,887 |
Catalent, Inc.(1) | 1,335 | 69,353 |
Elanco Animal Health, Inc.(1) | 1,219 | 27,294 |
Eli Lilly & Co. | 6,918 | 959,665 |
Horizon Therapeutics PLC(1) | 1,599 | 47,362 |
Jazz Pharmaceuticals PLC(1) | 457 | 45,581 |
Merck & Co., Inc. | 13,332 | 1,025,764 |
Nektar Therapeutics(1) | 1,509 | 26,936 |
Perrigo Co. PLC | 993 | 47,753 |
Pfizer, Inc. | 20,674 | 674,799 |
Table of Contents
Security | Shares | Value |
Pharmaceuticals (continued) | ||
Zoetis, Inc. | 4,421 | $ 520,308 |
$ 4,115,702 | ||
Professional Services — 0.8% | ||
CoreLogic, Inc. | 701 | $ 21,409 |
CoStar Group, Inc.(1) | 310 | 182,035 |
Exponent, Inc. | 363 | 26,103 |
FTI Consulting, Inc.(1) | 116 | 13,893 |
IHS Markit, Ltd. | 3,119 | 187,140 |
Insperity, Inc. | 284 | 10,593 |
Nielsen Holdings PLC | 1,996 | 25,030 |
Robert Half International, Inc. | 529 | 19,970 |
TransUnion | 1,480 | 97,947 |
TriNet Group, Inc.(1) | 326 | 12,277 |
Verisk Analytics, Inc. | 1,321 | 184,121 |
$780,518 | ||
Real Estate Management & Development — 0.1% | ||
CBRE Group, Inc., Class A(1) | 1,885 | $71,083 |
$71,083 | ||
Road & Rail — 1.1% | ||
AMERCO | 27 | $7,845 |
J.B. Hunt Transport Services, Inc. | 447 | 41,227 |
Kansas City Southern | 377 | 47,947 |
Landstar System, Inc. | 261 | 25,020 |
Norfolk Southern Corp. | 1,207 | 176,222 |
Old Dominion Freight Line, Inc. | 894 | 117,346 |
Union Pacific Corp. | 4,432 | 625,089 |
$1,040,696 | ||
Semiconductors & Semiconductor Equipment — 5.8% | ||
Advanced Micro Devices, Inc.(1) | 8,587 | $390,537 |
Analog Devices, Inc. | 2,423 | 217,222 |
Applied Materials, Inc. | 7,209 | 330,316 |
Broadcom, Inc. | 3,032 | 718,887 |
Cabot Microelectronics Corp. | 214 | 24,426 |
Cree, Inc.(1) | 238 | 8,440 |
Cypress Semiconductor Corp. | 558 | 13,013 |
Entegris, Inc. | 942 | 42,173 |
Intel Corp. | 6,265 | 339,062 |
KLA Corp. | 819 | 117,723 |
Lam Research Corp. | 1,106 | 265,440 |
Marvell Technology Group, Ltd. | 3,052 | 69,067 |
Maxim Integrated Products, Inc. | 1,253 | 60,908 |
Microchip Technology, Inc.(3) | 1,768 | 119,870 |
Security | Shares | Value |
Semiconductors & Semiconductor Equipment (continued) | ||
Micron Technology, Inc.(1) | 5,043 | $ 212,109 |
MKS Instruments, Inc. | 669 | 54,490 |
Monolithic Power Systems, Inc. | 357 | 59,783 |
NVIDIA Corp. | 4,524 | 1,192,526 |
ON Semiconductor Corp.(1) | 1,936 | 24,084 |
Qorvo, Inc.(1) | 938 | 75,631 |
Silicon Laboratories, Inc.(1) | 315 | 26,904 |
Skyworks Solutions, Inc. | 572 | 51,125 |
Teradyne, Inc. | 1,872 | 101,406 |
Texas Instruments, Inc. | 7,405 | 739,982 |
Universal Display Corp. | 314 | 41,379 |
Xilinx, Inc. | 1,905 | 148,476 |
$5,444,979 | ||
Software — 15.5% | ||
ACI Worldwide, Inc.(1) | 785 | $18,958 |
Adobe, Inc.(1) | 3,718 | 1,183,216 |
Alteryx, Inc., Class A(1) | 383 | 36,450 |
ANSYS, Inc.(1) | 681 | 158,312 |
Appfolio, Inc., Class A(1)(3) | 204 | 22,634 |
Aspen Technology, Inc.(1) | 512 | 48,676 |
Autodesk, Inc.(1) | 1,366 | 213,233 |
Blackbaud, Inc. | 364 | 20,220 |
Blackline, Inc.(1) | 286 | 15,047 |
Cadence Design Systems, Inc.(1) | 2,340 | 154,534 |
CDK Global, Inc. | 851 | 27,955 |
Ceridian HCM Holding, Inc.(1) | 510 | 25,536 |
Citrix Systems, Inc. | 1,009 | 142,824 |
Cornerstone OnDemand, Inc.(1) | 317 | 10,065 |
Coupa Software, Inc.(1) | 513 | 71,682 |
Envestnet, Inc.(1) | 344 | 18,500 |
Fair Isaac Corp.(1) | 228 | 70,153 |
FireEye, Inc.(1) | 968 | 10,241 |
Five9, Inc.(1) | 442 | 33,795 |
Fortinet, Inc.(1) | 1,084 | 109,668 |
Guidewire Software, Inc.(1) | 581 | 46,079 |
HubSpot, Inc.(1) | 290 | 38,625 |
Intuit, Inc. | 1,987 | 457,010 |
j2 Global, Inc. | 480 | 35,928 |
LogMeIn, Inc. | 419 | 34,894 |
Manhattan Associates, Inc.(1) | 455 | 22,668 |
Microsoft Corp. | 51,044 | 8,050,149 |
New Relic, Inc.(1) | 597 | 27,605 |
NortonLifeLock, Inc. | 4,445 | 83,166 |
Nuance Communications, Inc.(1) | 866 | 14,532 |
Nutanix, Inc., Class A(1) | 1,252 | 19,782 |
Oracle Corp. | 8,505 | 411,047 |
Table of Contents
Security | Shares | Value |
Software (continued) | ||
Palo Alto Networks, Inc.(1) | 768 | $ 125,921 |
Paycom Software, Inc.(1) | 379 | 76,562 |
Paylocity Holding Corp.(1) | 252 | 22,257 |
Pegasystems, Inc. | 314 | 22,366 |
Proofpoint, Inc.(1) | 409 | 41,959 |
PTC, Inc.(1) | 784 | 47,989 |
Q2 Holdings, Inc.(1)(3) | 321 | 18,958 |
Qualys, Inc.(1) | 247 | 21,487 |
RealPage, Inc.(1) | 608 | 32,181 |
RingCentral, Inc., Class A(1) | 581 | 123,120 |
salesforce.com, Inc.(1) | 6,663 | 959,339 |
ServiceNow, Inc.(1) | 1,497 | 429,010 |
SolarWinds Corp.(1) | 532 | 8,336 |
Splunk, Inc.(1) | 1,168 | 147,437 |
SS&C Technologies Holdings, Inc. | 1,687 | 73,924 |
Synopsys, Inc.(1) | 1,202 | 154,806 |
Teradata Corp.(1) | 1,298 | 26,596 |
Trade Desk, Inc. (The), Class A(1) | 336 | 64,848 |
Tyler Technologies, Inc.(1) | 306 | 90,747 |
Verint Systems, Inc.(1) | 450 | 19,350 |
VMware, Inc., Class A(1)(3) | 629 | 76,172 |
Workday, Inc., Class A(1) | 1,401 | 182,438 |
Zendesk, Inc.(1) | 775 | 49,608 |
$14,448,595 | ||
Specialty Retail — 3.4% | ||
Aaron's, Inc. | 164 | $3,736 |
Advance Auto Parts, Inc. | 198 | 18,477 |
American Eagle Outfitters, Inc. | 548 | 4,356 |
AutoZone, Inc.(1) | 164 | 138,744 |
Burlington Stores, Inc.(1) | 485 | 76,853 |
CarMax, Inc.(1) | 258 | 13,888 |
Five Below, Inc.(1) | 366 | 25,759 |
Floor & Decor Holdings, Inc., Class A(1) | 432 | 13,863 |
Home Depot, Inc. (The) | 7,904 | 1,475,756 |
Lowe's Cos., Inc. | 4,916 | 423,022 |
O'Reilly Automotive, Inc.(1) | 517 | 155,643 |
Ross Stores, Inc. | 2,425 | 210,902 |
Tiffany & Co. | 329 | 42,605 |
TJX Cos., Inc. (The) | 8,565 | 409,493 |
Tractor Supply Co. | 863 | 72,967 |
Ulta Beauty, Inc.(1) | 400 | 70,280 |
Williams-Sonoma, Inc. | 117 | 4,975 |
$3,161,319 |
Security | Shares | Value |
Technology Hardware, Storage & Peripherals — 6.9% | ||
Apple, Inc. | 24,240 | $ 6,163,990 |
Dell Technologies, Class C(1) | 1,300 | 51,415 |
Hewlett Packard Enterprise Co. | 10,042 | 97,508 |
NCR Corp.(1) | 1,480 | 26,196 |
NetApp, Inc. | 545 | 22,721 |
Pure Storage, Inc., Class A(1) | 1,564 | 19,237 |
Western Digital Corp. | 2,107 | 87,693 |
$ 6,468,760 | ||
Textiles, Apparel & Luxury Goods — 0.9% | ||
Capri Holdings, Ltd.(1) | 254 | $2,741 |
Carter's, Inc. | 93 | 6,113 |
Columbia Sportswear Co. | 98 | 6,838 |
Deckers Outdoor Corp.(1) | 176 | 23,584 |
lululemon Athletica, Inc.(1) | 848 | 160,738 |
NIKE, Inc., Class B | 6,768 | 559,984 |
Ralph Lauren Corp., Class A | 77 | 5,146 |
Skechers U.S.A., Inc., Class A(1) | 268 | 6,362 |
Under Armour, Inc., Class A(1) | 2,343 | 21,579 |
VF Corp. | 1,241 | 67,113 |
$860,198 | ||
Thrifts & Mortgage Finance — 0.0%(2) | ||
Essent Group, Ltd. | 458 | $12,064 |
TFS Financial Corp.(3) | 442 | 6,749 |
$18,813 | ||
Trading Companies & Distributors — 0.2% | ||
Fastenal Co. | 4,034 | $126,063 |
HD Supply Holdings, Inc.(1) | 857 | 24,365 |
MSC Industrial Direct Co., Inc., Class A | 133 | 7,311 |
United Rentals, Inc.(1) | 97 | 9,981 |
Univar Solutions, Inc.(1) | 2,085 | 22,351 |
W.W. Grainger, Inc. | 176 | 43,736 |
$233,807 | ||
Transportation Infrastructure — 0.0%(2) | ||
Macquarie Infrastructure Corp. | 223 | $5,631 |
$5,631 | ||
Water Utilities — 0.2% | ||
American Water Works Co., Inc. | 931 | $111,310 |
Essential Utilities, Inc. | 1,195 | 48,637 |
$159,947 |
Table of Contents
Security | Shares | Value |
Wireless Telecommunication Services — 0.1% | ||
Sprint Corp.(1) | 2,389 | $ 20,593 |
T-Mobile US, Inc.(1) | 1,234 | 103,533 |
$ 124,126 | ||
Total Common Stocks (identified cost $74,181,469) | $93,198,333 |
Short-Term Investments — 0.0%(2) |
Security | Shares | Value |
State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(4) | 38,953 | $ 38,953 |
Total Short-Term Investments (identified cost $38,953) | $ 38,953 | |
Total Investments — 99.9% (identified cost $74,220,422) | $93,237,286 | |
Other Assets, Less Liabilities — 0.1% | $ 100,442 | |
Net Assets — 100.0% | $93,337,728 |
The percentage shown for each investment category in the Schedule of Investments is based on net assets. | ||
(1) | Non-income producing security. | |
(2) | Amount is less than 0.05%. | |
(3) | All or a portion of this security was on loan at March 31, 2020. The aggregate market value of securities on loan at March 31, 2020 was $601,935. | |
(4) | Represents investment of cash collateral received in connection with securities lending. |
Table of Contents
March 31, 2020 | |
Assets | |
Investments in securities of unaffiliated issuers, at value (identified cost $74,220,422) - including $601,935 of securities on loan | $93,237,286 |
Cash | 643,073 |
Receivable for capital shares sold | 262,654 |
Dividends receivable | 42,434 |
Securities lending income receivable | 159 |
Receivable from affiliate | 11,809 |
Directors' deferred compensation plan | 40,145 |
Total assets | $94,237,560 |
Liabilities | |
Payable for investments purchased | $649,715 |
Payable for capital shares redeemed | 78,655 |
Deposits for securities loaned | 38,953 |
Payable to affiliates: | |
Investment advisory fee | 9,437 |
Administrative fee | 9,437 |
Distribution and service fees | 3,697 |
Sub-transfer agency fee | 305 |
Directors' deferred compensation plan | 40,145 |
Accrued expenses | 69,488 |
Total liabilities | $899,832 |
Net Assets | $93,337,728 |
Sources of Net Assets | |
Paid-in capital | $74,581,438 |
Distributable earnings | 18,756,290 |
Total | $93,337,728 |
Class A Shares | |
Net Assets | $17,573,684 |
Shares Outstanding | 629,942 |
Net Asset Value and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $27.90 |
Maximum Offering Price Per Share (100 ÷ 95.25 of net asset value per share) | $29.29 |
Class I Shares | |
Net Assets | $75,764,044 |
Shares Outstanding | 2,697,845 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $28.08 |
On sales of $50,000 or more, the offering price of Class A shares is reduced. |
Table of Contents
Six Months Ended | |
March 31, 2020 | |
Investment Income | |
Dividend income (net of foreign taxes withheld of $27) | $592,776 |
Interest income | 1,480 |
Securities lending income, net | 2,047 |
Total investment income | $596,303 |
Expenses | |
Investment advisory fee | $59,212 |
Administrative fee | 59,212 |
Distribution and service fees: | |
Class A | 22,993 |
Directors' fees and expenses | 2,689 |
Custodian fees | 9,529 |
Transfer agency fees and expenses | 36,238 |
Accounting fees | 12,145 |
Professional fees | 17,388 |
Registration fees | 6,035 |
Reports to shareholders | 2,045 |
Miscellaneous | 6,640 |
Total expenses | $234,126 |
Waiver and/or reimbursement of expenses by affiliate | $(89,434) |
Reimbursement of expenses - other | (1,371) |
Net expenses | $143,321 |
Net investment income | $452,982 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment securities | $340,244 |
Net realized gain | $340,244 |
Change in unrealized appreciation (depreciation): | |
Investment securities | $(5,393,752) |
Net change in unrealized appreciation (depreciation) | $(5,393,752) |
Net realized and unrealized loss | $(5,053,508) |
Net decrease in net assets from operations | $(4,600,526) |
Table of Contents
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $452,982 | $754,073 |
Net realized gain | 340,244 | 442,366 |
Net change in unrealized appreciation (depreciation) | (5,393,752) | 3,588,965 |
Net increase (decrease) in net assets from operations | $(4,600,526) | $4,785,404 |
Distributions to shareholders: | ||
Class A | $(263,535) | $(659,649) |
Class I | (1,322,504) | (2,888,632) |
Total distributions to shareholders | $(1,586,039) | $(3,548,281) |
Capital share transactions: | ||
Class A | $2,425,548 | $2,133,569 |
Class I | 5,789,525 | 13,535,760 |
Net increase in net assets from capital share transactions | $8,215,073 | $15,669,329 |
Net increase in net assets | $2,028,508 | $16,906,452 |
Net Assets | ||
At beginning of period | $91,309,220 | $74,402,768 |
At end of period | $93,337,728 | $91,309,220 |
Table of Contents
Class A | ||||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | Period Ended September 30, 2015(1) | ||||
2019 | 2018 | 2017 | 2016 | |||
Net asset value — Beginning of period | $29.65 | $29.83 | $24.35 | $20.66 | $18.55 | $20.00 |
Income (Loss) From Operations | ||||||
Net investment income(2) | $0.11 | $0.20 | $0.17 | $0.21 | $0.15 | $0.03 |
Net realized and unrealized gain (loss) | (1.40) | 0.96 | 5.84 | 3.64 | 2.00 | (1.48) |
Total income (loss) from operations | $(1.29) | $1.16 | $6.01 | $3.85 | $2.15 | $(1.45) |
Less Distributions | ||||||
From net investment income | $(0.17) | $(0.20) | $(0.19) | $(0.16) | $(0.04) | $— |
From net realized gain | (0.29) | (1.14) | (0.34) | — | —(3) | — |
Total distributions | $(0.46) | $(1.34) | $(0.53) | $(0.16) | $(0.04) | $— |
Net asset value — End of period | $27.90 | $29.65 | $29.83 | $24.35 | $20.66 | $18.55 |
Total Return(4) | (4.50)%(5) | 4.51% | 25.03% | 18.76% | 11.63% | (7.25)%(5) |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $17,574 | $16,361 | $14,036 | $6,214 | $4,403 | $2,100 |
Ratios (as a percentage of average daily net assets):(6) | ||||||
Total expenses | 0.68%(7) | 0.77% | 0.82% | 1.53% | 1.45% | 7.70%(7) |
Net expenses | 0.49%(7) | 0.51% | 0.57% | 0.57% | 0.57% | 0.57%(7) |
Net investment income | 0.73%(7) | 0.72% | 0.63% | 0.92% | 0.77% | 0.60%(7) |
Portfolio Turnover | 23%(5) | 34% | 54% | 75% | 43% | 3%(5) |
(1) | From June 19, 2015 inception. |
(2) | Computed using average shares outstanding. |
(3) | Amount is less than $0.005. |
(4) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(5) | Not annualized. |
(6) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(7) | Annualized. |
Table of Contents
Class I | ||||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | Period Ended September 30, 2015(1) | ||||
2019 | 2018 | 2017 | 2016 | |||
Net asset value — Beginning of period | $29.88 | $30.02 | $24.45 | $20.74 | $18.57 | $20.00 |
Income (Loss) From Operations | ||||||
Net investment income(2) | $0.15 | $0.28 | $0.26 | $0.28 | $0.22 | $0.05 |
Net realized and unrealized gain (loss) | (1.42) | 0.97 | 5.87 | 3.66 | 2.01 | (1.48) |
Total income (loss) from operations | $(1.27) | $1.25 | $6.13 | $3.94 | $2.23 | $(1.43) |
Less Distributions | ||||||
From net investment income | $(0.24) | $(0.25) | $(0.22) | $(0.23) | $(0.06) | $— |
From net realized gain | (0.29) | (1.14) | (0.34) | — | —(3) | — |
Total distributions | $(0.53) | $(1.39) | $(0.56) | $(0.23) | $(0.06) | $— |
Net asset value — End of period | $28.08 | $29.88 | $30.02 | $24.45 | $20.74 | $18.57 |
Total Return(4) | (4.42)%(5) | 4.82% | 25.46% | 19.20% | 12.02% | (7.15)%(5) |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $75,764 | $74,948 | $60,367 | $40,821 | $38,646 | $1,964 |
Ratios (as a percentage of average daily net assets):(6) | ||||||
Total expenses | 0.43%(7) | 0.52% | 0.58% | 0.58% | 0.61% | 7.16%(7) |
Net expenses | 0.24%(7) | 0.24% | 0.22% | 0.22% | 0.22% | 0.22%(7) |
Net investment income | 0.96%(7) | 1.00% | 0.98% | 1.26% | 1.12% | 0.95%(7) |
Portfolio Turnover | 23%(5) | 34% | 54% | 75% | 43% | 3%(5) |
(1) | From June 19, 2015 inception. |
(2) | Computed using average shares outstanding. |
(3) | Amount is less than $0.005. |
(4) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(5) | Not annualized. |
(6) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(7) | Annualized. |
Table of Contents
Table of Contents
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $93,198,333(1) | $ — | $— | $93,198,333 |
Short-Term Investments | 38,953 | — | — | 38,953 |
Total Investments | $93,237,286 | $ — | $ — | $93,237,286 |
(1) | The level classification by major category of investments is the same as the category presentation in the Schedule of Investments. |
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Aggregate cost | $75,053,316 |
Gross unrealized appreciation | $21,598,646 |
Gross unrealized depreciation | (3,414,676) |
Net unrealized appreciation | $18,183,970 |
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Remaining Contractual Maturity of the Transactions | |||||
Overnight and Continuous | <30 days | 30 to 90 days | >90 days | Total | |
Securities Lending Transactions | |||||
Common Stocks | $38,953 | $ — | $ — | $ — | $38,953 |
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Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | ||||
Shares | Amount | Shares | Amount | ||
Class A | |||||
Shares sold | 142,233 | $4,399,828 | 213,791 | $5,900,799 | |
Reinvestment of distributions | 8,095 | 250,466 | 24,401 | 636,373 | |
Shares redeemed | (72,139) | (2,224,746) | (156,940) | (4,403,603) | |
Net increase | 78,189 | $2,425,548 | 81,252 | $2,133,569 | |
Class I | |||||
Shares sold | 904,556 | $28,142,196 | 812,027 | $22,472,686 | |
Reinvestment of distributions | 42,402 | 1,319,561 | 107,074 | 2,807,470 | |
Shares redeemed | (757,669) | (23,672,232) | (421,553) | (11,744,396) | |
Net increase | 189,289 | $5,789,525 | 497,548 | $13,535,760 |
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Officers |
Hope L. Brown Chief Compliance Officer |
Maureen A. Gemma Vice President, Secretary and Chief Legal Officer |
James F. Kirchner Treasurer |
Directors |
Alice Gresham Bullock Chairperson |
Richard L. Baird, Jr. |
Cari M. Dominguez |
John G. Guffey, Jr. |
Miles D. Harper, III |
Joy V. Jones |
John H. Streur* |
Anthony A. Williams |
*Interested Director and President |
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• | At the time of opening an account, Eaton Vance generally requires you to provide us with certain information such as name, address, social security number, tax status, account numbers, and account balances. This information is necessary for us to both open an account for you and to allow us to satisfy legal requirements such as applicable anti-money laundering reviews and know-your-customer requirements. |
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% Average Annual Total Returns1,2 | Class Inception Date | Performance Inception Date | Six Months | One Year | Five Years | Since Inception |
Class A at NAV | 10/30/2015 | 10/30/2015 | (14.75)% | (11.28)% | —% | 0.64% |
Class A with 4.75% Maximum Sales Charge | — | — | (18.80) | (15.49) | — | (0.46) |
Class I at NAV | 10/30/2015 | 10/30/2015 | (14.64) | (11.06) | — | 0.97 |
Class R6 at NAV | 02/01/2019 | 10/30/2015 | (14.61) | (11.03) | — | 0.98 |
·· | ||||||
MSCI World ex USA Index | — | — | (17.23)% | (14.89)% | (0.76)% | (0.09)% |
Calvert International Responsible Index | — | — | (14.22) | (10.57) | — | 0.98 |
% Total Annual Operating Expense Ratios3 | Class A | Class I | Class R6 |
Gross | 0.89% | 0.64% | 0.61% |
Net | 0.54 | 0.29 | 0.26 |
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Top 10 Holdings (% of net assets)* | |
Nestle SA | 2.3% |
Roche Holding AG | 1.8 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 1.6 |
Samsung Electronics Co., Ltd. | 1.6 |
Novartis AG | 1.4 |
Toyota Motor Corp. | 1.3 |
Unilever PLC | 1.1 |
AstraZeneca PLC | 1.0 |
SAP SE | 1.0 |
ASML Holding NV | 0.9 |
Total | 14.0% |
* | Excludes cash and cash equivalents. |
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1 | MSCI World ex USA Index is an unmanaged index of equity securities in the developed markets, excluding the United States. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder. Calvert International Responsible Index (the “Calvert Index”) is composed of common stocks of large companies in developed markets, excluding the U.S. Large companies in developed markets are the 1,000 largest publicly traded companies, excluding real estate investment trusts and business development companies, in markets that Calvert Research and Management determines to be developed markets based on a set of criteria including level of economic development, existence of capital controls, openness to foreign direct investment, market trading and liquidity conditions, regulatory environment, treatment of minority shareholders, and investor expectations. The Calvert Principles of Responsible Investment serve as a framework for considering environmental, social and governance factors that may affect investment performance. Stocks are weighted in the Calvert Index based on their float-adjusted market capitalization, by country and by sector, subject to certain prescribed limits. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 | Total Returns at NAV do not include applicable sales charges. If sales charges were deducted, the returns would be lower. Total Returns shown with maximum sales charge reflect the stated maximum sales charge. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares.Performance prior to the inception date of a class may be linked to the performance of an older class of the Fund. This linked performance is adjusted for any applicable sales charge, but is not adjusted for class expense differences. If adjusted for such differences, the performance would be different. The performance of Class R6 is linked to Class I. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable. Performance presented in the Financial Highlights included in the financial statements is not linked.Calvert Research and Management became the investment adviser to the Fund on December 31, 2016. Performance reflected prior to such date is that of the Fund’s former investment adviser. |
3 | Source: Fund prospectus. Net expense ratios reflect a contractual expense reimbursement that continues through 1/31/21. Without the reimbursement, performance would have been lower. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report. |
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Beginning Account Value (10/1/19) | Ending Account Value (3/31/20) | Expenses Paid During Period* (10/1/19 – 3/31/20) | Annualized Expense Ratio | |
Actual | ||||
Class A | $1,000.00 | $852.50 | $2.50** | 0.54% |
Class I | $1,000.00 | $853.60 | $1.34** | 0.29% |
Class R6 | $1,000.00 | $853.90 | $1.21** | 0.26% |
Hypothetical | ||||
(5% return per year before expenses) | ||||
Class A | $1,000.00 | $1,022.30 | $2.73** | 0.54% |
Class I | $1,000.00 | $1,023.55 | $1.47** | 0.29% |
Class R6 | $1,000.00 | $1,023.70 | $1.32** | 0.26% |
* | Expenses are equal to the Fund's annualized expense ratio for the indicated Class, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). The Example assumes that the $1,000 was invested at the net asset value per share determined at the close of business on September 30, 2019. |
** | Absent a waiver and/or reimbursement of expenses by an affiliate, expenses would be higher. |
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Common Stocks — 99.0% |
Security | Shares | Value |
Australia — 4.5% | ||
APA Group | 38,271 | $ 242,858 |
ASX, Ltd. | 2,966 | 139,226 |
Australia & New Zealand Banking Group, Ltd. | 40,301 | 422,652 |
Brambles, Ltd. | 25,813 | 166,849 |
CIMIC Group, Ltd. | 1,089 | 15,424 |
Cochlear, Ltd. | 796 | 90,721 |
Coles Group, Ltd. | 23,852 | 222,134 |
Commonwealth Bank of Australia | 22,668 | 855,264 |
Computershare, Ltd. | 6,317 | 37,816 |
CSL, Ltd. | 6,417 | 1,163,220 |
Insurance Australia Group, Ltd. | 34,665 | 130,793 |
Lend Lease Group | 8,702 | 54,560 |
Macquarie Group, Ltd. | 5,105 | 271,882 |
Magellan Financial Group, Ltd. | 1,739 | 46,121 |
Medibank Pvt, Ltd. | 37,732 | 62,050 |
National Australia Bank, Ltd. | 40,231 | 412,685 |
Orica, Ltd. | 8,257 | 77,296 |
Qantas Airways, Ltd. | 13,501 | 26,268 |
QBE Insurance Group, Ltd. | 18,907 | 98,486 |
Ramsay Health Care, Ltd. | 2,134 | 75,036 |
REA Group, Ltd. | 777 | 36,398 |
Sonic Healthcare, Ltd. | 7,624 | 114,587 |
Suncorp Group, Ltd. | 15,724 | 87,319 |
Sydney Airport | 15,653 | 54,083 |
Telstra Corp., Ltd. | 55,585 | 104,341 |
Transurban Group | 39,928 | 297,409 |
Wesfarmers, Ltd. | 22,401 | 474,681 |
Westpac Banking Corp. | 49,246 | 505,796 |
WiseTech Global, Ltd.(1) | 1,272 | 13,224 |
Woolworths Group, Ltd. | 24,735 | 537,896 |
$6,837,075 | ||
Austria — 0.2% | ||
Erste Group Bank AG | 3,755 | $68,745 |
Raiffeisen Bank International AG | 2,269 | 32,638 |
Telekom Austria AG | 2,137 | 14,919 |
Verbund AG | 1,051 | 37,906 |
Voestalpine AG | 4,209 | 84,923 |
$239,131 | ||
Belgium — 0.8% | ||
Ackermans & van Haaren NV | 428 | $55,541 |
Ageas | 2,916 | 121,516 |
Colruyt SA | 1,460 | 79,144 |
Galapagos NV(2) | 790 | 155,138 |
Security | Shares | Value |
Belgium (continued) | ||
KBC Groep NV | 6,006 | $ 272,523 |
Proximus SA | 2,366 | 54,334 |
Sofina SA | 268 | 54,500 |
Solvay SA | 1,443 | 103,993 |
Telenet Group Holding NV | 998 | 29,969 |
UCB SA | 2,176 | 186,183 |
Umicore SA | 4,016 | 138,517 |
$ 1,251,358 | ||
Canada — 7.9% | ||
Air Canada(2) | 2,362 | $26,435 |
Algonquin Power & Utilities Corp.(1) | 8,990 | 121,055 |
Alimentation Couche-Tard, Inc., Class B | 18,227 | 429,351 |
Bank of Montreal | 9,258 | 467,472 |
Bank of Nova Scotia (The) | 16,807 | 686,348 |
BCE, Inc. | 4,397 | 180,373 |
Brookfield Asset Management, Inc., Class A | 15,002 | 664,979 |
CAE, Inc. | 4,215 | 53,283 |
Canadian Imperial Bank of Commerce | 6,439 | 375,185 |
Canadian National Railway Co.(1) | 10,811 | 845,260 |
Canadian Pacific Railway, Ltd. | 2,148 | 474,001 |
Canadian Tire Corp., Ltd., Class A(1) | 851 | 51,364 |
CCL Industries, Inc., Class B | 2,866 | 87,143 |
CGI, Inc.(2) | 3,667 | 198,528 |
Constellation Software, Inc. | 302 | 274,472 |
Dollarama, Inc. | 4,239 | 117,594 |
Empire Co., Ltd. | 3,060 | 59,861 |
Fairfax Financial Holdings, Ltd. | 414 | 126,918 |
George Weston, Ltd. | 1,504 | 107,545 |
Gildan Activewear, Inc. | 2,614 | 33,323 |
Great-West Lifeco, Inc. | 3,391 | 58,577 |
Hydro One, Ltd.(3) | 5,860 | 105,516 |
IGM Financial, Inc. | 884 | 14,667 |
Intact Financial Corp. | 2,122 | 183,400 |
Loblaw Cos., Ltd. | 3,416 | 176,104 |
Magna International, Inc.(4) | 439 | 14,009 |
Magna International, Inc.(4) | 3,976 | 126,914 |
Manulife Financial Corp. | 30,106 | 378,010 |
Metro, Inc. | 5,467 | 221,081 |
National Bank of Canada | 5,053 | 195,291 |
Nutrien, Ltd.(1) | 10,238 | 349,997 |
Open Text Corp. | 3,861 | 135,010 |
Power Corp. of Canada(1) | 8,059 | 129,649 |
Quebecor, Inc., Class B | 2,706 | 59,819 |
Restaurant Brands International, Inc.(4) | 3,358 | 135,317 |
Restaurant Brands International, Inc.(4) | 2,808 | 112,404 |
Rogers Communications, Inc., Class B | 5,329 | 222,430 |
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Security | Shares | Value |
Canada (continued) | ||
Royal Bank of Canada | 17,570 | $ 1,088,309 |
Saputo, Inc. | 5,231 | 125,785 |
Shaw Communications, Inc., Class B | 6,328 | 102,656 |
Shopify, Inc., Class A(2) | 1,550 | 649,407 |
Sun Life Financial, Inc. | 8,566 | 275,551 |
TELUS Corp.(4) | 3,444 | 54,451 |
TELUS Corp.(4) | 3,456 | 54,641 |
Thomson Reuters Corp. | 2,932 | 199,758 |
Toronto-Dominion Bank (The) | 23,230 | 987,601 |
Waste Connections, Inc.(4) | 1,922 | 148,955 |
Waste Connections, Inc.(4) | 2,552 | 198,023 |
WSP Global, Inc. | 1,695 | 96,258 |
$11,980,080 | ||
China — 0.7% | ||
Beijing Enterprises Water Group, Ltd. | 112,000 | $43,421 |
China Everbright International, Ltd. | 82,777 | 47,068 |
China Mengniu Dairy Co., Ltd.(2) | 64,000 | 220,718 |
China Resources Pharmaceutical Group, Ltd.(3) | 28,500 | 17,017 |
CSPC Pharmaceutical Group, Ltd. | 74,000 | 145,565 |
Fosun International, Ltd. | 83,000 | 95,284 |
Geely Automobile Holdings, Ltd. | 92,000 | 133,512 |
Guangdong Investment, Ltd. | 58,000 | 111,305 |
Lenovo Group, Ltd. | 108,000 | 57,212 |
Shenzhou International Group Holdings, Ltd. | 13,100 | 137,420 |
$1,008,522 | ||
Denmark — 1.9% | ||
AP Moller - Maersk A/S, Class B(1) | 118 | $104,591 |
Ascendis Pharma A/S ADR(1)(2) | 475 | 53,490 |
Chr. Hansen Holding A/S | 1,552 | 114,526 |
Coloplast A/S, Class B | 1,631 | 236,538 |
Danske Bank A/S | 8,395 | 93,431 |
Demant A/S(2) | 1,308 | 28,480 |
DSV PANALPINA A/S | 2,326 | 211,501 |
Genmab A/S(2) | 785 | 157,682 |
GN Store Nord A/S | 1,316 | 58,349 |
H Lundbeck A/S | 717 | 21,053 |
ISS A/S(1)(2) | 2,137 | 29,235 |
Novo Nordisk A/S, Class B | 20,475 | 1,222,686 |
Novozymes A/S, Class B | 2,981 | 133,718 |
Orsted A/S(3) | 2,273 | 222,521 |
Rockwool International A/S, Class B | 113 | 20,353 |
Topdanmark A/S | 447 | 17,937 |
Tryg A/S | 1,459 | 35,512 |
Security | Shares | Value |
Denmark (continued) | ||
Vestas Wind Systems A/S | 2,275 | $ 185,107 |
$ 2,946,710 | ||
Finland — 1.1% | ||
Elisa Oyj | 1,677 | $ 103,510 |
Kesko Oyj, Class B | 1,189 | 67,236 |
Kone Oyj, Class B | 4,327 | 242,315 |
Metso Oyj(1) | 1,618 | 38,129 |
Neste Oyj | 11,536 | 383,544 |
Nokia Oyj | 59,327 | 182,719 |
Nordea Bank Abp | 32,491 | 182,775 |
Orion Oyj, Class B(1) | 1,632 | 66,416 |
Sampo Oyj, Class A | 5,287 | 152,524 |
Stora Enso Oyj, Class R | 7,684 | 76,831 |
UPM-Kymmene Oyj | 6,505 | 177,371 |
Wartsila Oyj Abp | 6,101 | 44,552 |
$1,717,922 | ||
France — 8.7% | ||
Accor SA | 2,531 | $67,998 |
Aeroports de Paris | 378 | 36,517 |
Air Liquide SA | 7,014 | 895,319 |
ALD SA(3) | 1,044 | 9,167 |
Alstom SA | 2,633 | 108,722 |
Amundi SA(3) | 801 | 46,345 |
Arkema SA | 975 | 66,568 |
Atos SE | 1,178 | 78,484 |
AXA SA | 24,710 | 418,388 |
BioMerieux | 458 | 51,849 |
BNP Paribas SA | 13,382 | 390,690 |
Bouygues SA | 3,507 | 101,777 |
Bureau Veritas SA | 4,202 | 79,203 |
Capgemini SE | 2,048 | 171,136 |
Carrefour SA(1) | 11,170 | 177,092 |
Cie de Saint-Gobain | 13,032 | 312,708 |
Cie Generale des Etablissements Michelin SCA | 2,327 | 203,810 |
CNP Assurances | 1,978 | 19,152 |
Credit Agricole SA | 14,671 | 103,810 |
Danone SA | 10,775 | 689,580 |
Dassault Systemes SE | 1,631 | 238,111 |
Edenred | 3,581 | 148,610 |
Eiffage SA | 1,266 | 89,865 |
Engie SA | 25,416 | 260,271 |
EssilorLuxottica SA | 3,904 | 413,335 |
Eurazeo SE | 638 | 28,627 |
Eurofins Scientific SE | 155 | 75,640 |
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Security | Shares | Value |
France (continued) | ||
Faurecia SE | 942 | $ 27,583 |
Getlink SE | 5,506 | 66,593 |
Hermes International | 456 | 310,267 |
Iliad SA | 184 | 24,791 |
Ingenico Group SA | 760 | 79,442 |
Ipsen SA | 360 | 18,454 |
JC Decaux SA | 1,272 | 22,614 |
Kering SA | 952 | 496,385 |
Legrand SA | 4,270 | 272,349 |
L'Oreal SA | 3,037 | 786,008 |
LVMH Moet Hennessy Louis Vuitton SE | 3,454 | 1,266,758 |
Natixis SA | 9,094 | 28,957 |
Orange SA | 24,368 | 295,034 |
Orpea | 625 | 64,897 |
Peugeot SA | 6,797 | 88,492 |
Publicis Groupe SA | 3,024 | 86,423 |
Renault SA | 2,318 | 44,053 |
Rubis SCA | 1,218 | 50,224 |
Sanofi | 15,172 | 1,313,513 |
Sartorius Stedim Biotech | 334 | 66,651 |
Schneider Electric SE | 7,947 | 671,703 |
SCOR SE | 1,898 | 41,758 |
SEB SA | 366 | 45,331 |
SES SA FDR | 4,647 | 27,261 |
Societe Generale SA | 10,475 | 171,603 |
Sodexo SA | 1,636 | 109,866 |
Suez | 4,314 | 43,828 |
Teleperformance | 759 | 157,202 |
Ubisoft Entertainment SA(2) | 1,052 | 76,892 |
Valeo SA | 2,708 | 44,075 |
Veolia Environnement SA | 8,096 | 170,995 |
Vinci SA | 6,979 | 570,249 |
Vivendi SA | 11,639 | 246,088 |
Wendel SA | 395 | 31,345 |
Worldline SA(2)(3) | 1,452 | 85,699 |
$13,186,157 | ||
Germany — 6.7% | ||
1&1 Drillisch AG | 812 | $16,758 |
adidas AG | 2,411 | 535,308 |
Allianz SE | 5,301 | 902,747 |
Aroundtown SA | 17,576 | 87,976 |
Bayerische Motoren Werke AG | 4,563 | 232,937 |
Bechtle AG | 407 | 51,246 |
Beiersdorf AG | 1,397 | 140,665 |
Brenntag AG | 2,205 | 80,112 |
Carl Zeiss Meditec AG | 423 | 40,278 |
Security | Shares | Value |
Germany (continued) | ||
Commerzbank AG | 12,447 | $ 44,309 |
Continental AG | 1,400 | 99,818 |
Covestro AG(3) | 2,610 | 79,209 |
Daimler AG | 11,771 | 351,531 |
Delivery Hero SE(2) | 1,723 | 126,682 |
Deutsche Boerse AG | 2,302 | 316,258 |
Deutsche Lufthansa AG | 3,714 | 34,738 |
Deutsche Post AG | 13,324 | 357,198 |
Deutsche Telekom AG | 41,459 | 535,460 |
Deutsche Wohnen SE | 5,404 | 204,804 |
DWS Group GmbH & Co. KGaA(3) | 746 | 18,112 |
Evonik Industries AG | 2,982 | 62,274 |
Fielmann AG | 364 | 21,188 |
Fraport AG Frankfurt Airport Services Worldwide | 533 | 21,456 |
Fresenius Medical Care AG & Co. KGaA | 2,819 | 184,013 |
Fresenius SE & Co. KGaA | 5,595 | 208,317 |
GEA Group AG | 2,346 | 48,463 |
GRENKE AG | 311 | 17,922 |
Hannover Rueck SE | 796 | 112,400 |
HeidelbergCement AG | 5,138 | 219,511 |
Hella GmbH & Co. KGaA | 937 | 26,873 |
HOCHTIEF AG | 296 | 19,435 |
Infineon Technologies AG | 16,403 | 236,790 |
KION Group AG | 925 | 39,810 |
Knorr-Bremse AG | 676 | 59,431 |
Lanxess AG | 1,174 | 46,730 |
LEG Immobilien AG | 1,056 | 118,417 |
Merck KGaA | 1,792 | 180,924 |
METRO AG | 3,086 | 26,284 |
MTU Aero Engines AG | 851 | 123,052 |
Muenchener Rueckversicherungs-Gesellschaft AG | 1,786 | 359,111 |
Nemetschek SE | 648 | 31,589 |
Puma SE | 1,249 | 73,385 |
Rational AG | 37 | 19,568 |
RTL Group SA | 506 | 16,945 |
SAP SE | 13,129 | 1,465,825 |
Schaeffler AG, PFC Shares | 2,000 | 12,021 |
Scout24 AG(3) | 1,531 | 91,521 |
Siemens AG | 11,006 | 921,587 |
Siemens Healthineers AG(3) | 2,254 | 87,132 |
Symrise AG | 1,974 | 182,612 |
Talanx AG | 777 | 26,143 |
Telefonica Deutschland Holding AG | 12,615 | 30,971 |
ThyssenKrupp AG(2) | 12,517 | 65,929 |
TUI AG | 6,134 | 26,849 |
Uniper SE | 4,188 | 102,871 |
United Internet AG | 1,341 | 38,993 |
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Security | Shares | Value |
Germany (continued) | ||
Vonovia SE | 7,938 | $ 394,864 |
Wirecard AG | 1,472 | 165,850 |
Zalando SE(2)(3) | 2,049 | 77,227 |
$ 10,220,429 | ||
Hong Kong — 3.3% | ||
AIA Group, Ltd. | 147,983 | $ 1,325,134 |
Alibaba Health Information Technology, Ltd.(2) | 44,000 | 72,306 |
Alibaba Pictures Group, Ltd.(2) | 290,000 | 37,031 |
Bank of East Asia, Ltd. (The) | 23,800 | 50,861 |
BOC Hong Kong Holdings, Ltd. | 56,850 | 156,054 |
Cathay Pacific Airways, Ltd.(1) | 38,000 | 40,479 |
China Gas Holdings, Ltd. | 62,200 | 215,083 |
China Overseas Land & Investment, Ltd. | 68,000 | 208,483 |
China Resources Gas Group, Ltd. | 14,000 | 70,256 |
China Taiping Insurance Holdings Co., Ltd. | 24,200 | 39,168 |
Chow Tai Fook Jewellery Group, Ltd. | 15,000 | 10,599 |
Dairy Farm International Holdings, Ltd. | 4,400 | 20,238 |
Haier Electronics Group Co., Ltd. | 18,000 | 47,518 |
Hang Lung Properties, Ltd. | 32,000 | 64,529 |
Hang Seng Bank, Ltd. | 11,579 | 197,275 |
Henderson Land Development Co., Ltd. | 26,355 | 99,751 |
HKT Trust & HKT, Ltd. | 65,000 | 88,403 |
Hong Kong Exchanges & Clearing, Ltd. | 17,999 | 539,237 |
Hongkong Land Holdings, Ltd. | 22,600 | 84,555 |
Hysan Development Co., Ltd. | 11,881 | 38,368 |
MTR Corp., Ltd. | 24,876 | 127,953 |
New World Development Co., Ltd. | 101,000 | 107,694 |
NWS Holdings, Ltd. | 27,000 | 27,515 |
Sino Biopharmaceutical, Ltd. | 108,000 | 140,948 |
Sino Land Co., Ltd. | 50,000 | 62,928 |
Sun Art Retail Group, Ltd. | 48,500 | 71,350 |
Sun Hung Kai Properties, Ltd. | 27,801 | 363,471 |
Swire Pacific, Ltd., Class A | 10,893 | 69,342 |
Swire Properties, Ltd. | 19,800 | 55,316 |
Techtronic Industries Co., Ltd. | 23,493 | 149,178 |
Vitasoy International Holdings, Ltd. | 16,000 | 48,150 |
WH Group, Ltd.(3) | 209,502 | 193,372 |
Wharf Holdings, Ltd. (The)(1) | 19,779 | 34,762 |
Wheelock & Co., Ltd. | 14,000 | 94,863 |
$4,952,170 | ||
Ireland — 1.0% | ||
AIB Group PLC(2) | 14,359 | $15,922 |
Amarin Corp. PLC ADR(1)(2) | 6,179 | 24,716 |
Bank of Ireland Group PLC | 11,729 | 21,864 |
Security | Shares | Value |
Ireland (continued) | ||
CRH PLC | 17,418 | $ 471,034 |
DCC PLC | 3,224 | 201,342 |
Glanbia PLC | 3,646 | 39,680 |
ICON PLC(2) | 726 | 98,736 |
Kerry Group PLC, Class A | 2,395 | 279,559 |
Kingspan Group PLC | 5,566 | 300,144 |
Smurfit Kappa Group PLC | 3,344 | 94,730 |
$ 1,547,727 | ||
Israel — 0.5% | ||
Azrieli Group, Ltd. | 1,377 | $78,731 |
Bank Hapoalim BM | 15,215 | 91,166 |
Bank Leumi Le-Israel B.M. | 18,120 | 99,913 |
Check Point Software Technologies, Ltd.(2) | 1,651 | 165,991 |
Mellanox Technologies, Ltd.(1)(2) | 815 | 98,876 |
Nice, Ltd.(2) | 903 | 130,570 |
Wix.com, Ltd.(2) | 754 | 76,018 |
$741,265 | ||
Italy — 1.9% | ||
A2A SpA | 25,373 | $31,304 |
Amplifon SpA | 1,526 | 30,998 |
Assicurazioni Generali SpA | 14,174 | 191,984 |
Banca Mediolanum SpA | 4,177 | 20,965 |
DiaSorin SpA | 269 | 35,458 |
Enel SpA | 116,910 | 806,426 |
Ferrari NV | 1,645 | 253,387 |
FinecoBank Banca Fineco SpA | 9,025 | 81,199 |
Hera SpA | 12,233 | 44,258 |
Infrastrutture Wireless Italiane SpA(3) | 2,632 | 28,499 |
Intesa Sanpaolo SpA | 191,708 | 310,195 |
Italgas SpA | 7,704 | 42,151 |
Mediobanca Banca di Credito Finanziario SpA | 7,632 | 41,619 |
Moncler SpA | 2,814 | 102,257 |
Pirelli & C SpA(3) | 6,163 | 21,744 |
Poste Italiane SpA(3) | 7,369 | 62,024 |
PRADA SpA | 7,700 | 22,299 |
Prysmian SpA | 3,825 | 60,729 |
Recordati SpA | 1,236 | 52,076 |
Snam SpA | 65,788 | 300,670 |
Telecom Italia SpA(2) | 142,783 | 57,795 |
Terna Rete Elettrica Nazionale SpA | 23,044 | 144,851 |
UniCredit SpA | 28,036 | 216,903 |
UnipolSai Assicurazioni SpA | 5,520 | 13,585 |
$2,973,376 |
Table of Contents
Security | Shares | Value |
Japan — 20.0% | ||
Acom Co., Ltd. | 6,200 | $ 25,178 |
AEON Co., Ltd. | 7,879 | 174,552 |
AGC, Inc. | 5,955 | 145,108 |
Aisin Seiki Co., Ltd. | 2,300 | 56,330 |
Ajinomoto Co., Inc. | 7,808 | 145,498 |
Alfresa Holdings Corp. | 2,400 | 44,668 |
ANA Holdings, Inc. | 2,156 | 52,528 |
Asahi Intecc Co., Ltd. | 2,400 | 59,357 |
Astellas Pharma, Inc. | 24,471 | 377,033 |
Bandai Namco Holdings, Inc. | 2,175 | 105,495 |
Bridgestone Corp. | 6,800 | 208,152 |
Canon, Inc. | 12,668 | 275,287 |
Central Japan Railway Co. | 2,767 | 443,470 |
Chugai Pharmaceutical Co., Ltd. | 2,952 | 341,534 |
Dai Nippon Printing Co., Ltd. | 4,129 | 87,746 |
Daifuku Co., Ltd. | 1,400 | 87,736 |
Dai-ichi Life Holdings, Inc. | 12,994 | 154,305 |
Daiichi Sankyo Co., Ltd. | 7,313 | 502,232 |
Daikin Industries, Ltd. | 3,600 | 434,570 |
Daiwa House Industry Co., Ltd. | 7,792 | 192,519 |
Daiwa Securities Group, Inc. | 19,400 | 74,967 |
Denso Corp. | 5,647 | 180,447 |
Dentsu Group, Inc. | 2,600 | 50,237 |
East Japan Railway Co. | 3,626 | 274,381 |
Eisai Co., Ltd. | 3,225 | 235,900 |
FamilyMart Co., Ltd. | 4,752 | 85,327 |
FANUC Corp. | 2,951 | 394,330 |
Fast Retailing Co., Ltd. | 742 | 302,767 |
FUJIFILM Holdings Corp.(1) | 4,426 | 218,111 |
Fujitsu, Ltd. | 2,348 | 211,481 |
Hakuhodo DY Holdings, Inc. | 3,200 | 32,288 |
Hamamatsu Photonics K.K. | 2,121 | 86,186 |
Hankyu Hanshin Holdings, Inc. | 3,000 | 100,786 |
Hikari Tsushin, Inc. | 300 | 50,200 |
Hitachi High-Tech Corp. | 900 | 66,485 |
Hitachi, Ltd. | 14,149 | 406,450 |
Honda Motor Co., Ltd.(1) | 24,300 | 543,747 |
Hoshizaki Corp. | 652 | 48,771 |
HOYA Corp. | 5,187 | 441,059 |
Hulic Co., Ltd. | 7,800 | 78,937 |
Isuzu Motors, Ltd. | 7,300 | 48,310 |
Itochu Techno-Solutions Corp. | 1,000 | 28,480 |
Japan Airlines Co., Ltd.(1) | 2,689 | 49,417 |
Japan Exchange Group, Inc. | 6,400 | 112,313 |
Japan Post Holdings Co., Ltd. | 18,200 | 142,372 |
Japan Post Insurance Co., Ltd. | 2,800 | 34,594 |
Security | Shares | Value |
Japan (continued) | ||
Kansai Paint Co., Ltd. | 2,100 | $ 39,833 |
Kao Corp. | 6,063 | 493,942 |
KDDI Corp. | 20,618 | 609,027 |
Keio Corp. | 1,623 | 95,811 |
Keisei Electric Railway Co., Ltd. | 2,000 | 57,796 |
Kikkoman Corp. | 2,709 | 114,860 |
Kintetsu Group Holdings Co., Ltd.(1) | 2,305 | 106,680 |
Kobayashi Pharmaceutical Co., Ltd. | 600 | 55,513 |
Komatsu, Ltd. | 12,646 | 204,655 |
Kose Corp. | 431 | 53,333 |
Kubota Corp. | 14,894 | 189,437 |
Kyocera Corp. | 4,113 | 242,711 |
Kyowa Kirin Co., Ltd. | 3,006 | 67,183 |
LINE Corp.(2) | 500 | 24,140 |
Lion Corp. | 3,500 | 74,642 |
M3, Inc. | 5,600 | 165,184 |
Makita Corp. | 2,992 | 91,267 |
Mazda Motor Corp. | 7,606 | 40,166 |
McDonald's Holdings Co. (Japan), Ltd. | 1,200 | 54,122 |
Medipal Holdings Corp. | 2,200 | 41,109 |
MEIJI Holdings Co., Ltd. | 2,071 | 146,764 |
MINEBEA MITSUMI, Inc. | 3,800 | 56,128 |
MISUMI Group, Inc. | 4,500 | 97,339 |
Mitsubishi Chemical Holdings Corp. | 16,660 | 98,928 |
Mitsubishi Electric Corp. | 26,007 | 317,707 |
Mitsubishi Estate Co., Ltd. | 20,308 | 299,932 |
Mitsubishi UFJ Financial Group, Inc. | 162,357 | 607,467 |
Mitsui Fudosan Co., Ltd. | 13,400 | 232,017 |
Mizuho Financial Group, Inc. | 286,573 | 328,779 |
MonotaRO Co., Ltd. | 1,900 | 50,201 |
MS&AD Insurance Group Holdings, Inc. | 6,100 | 170,197 |
Murata Manufacturing Co., Ltd. | 9,953 | 494,811 |
Nagoya Railroad Co., Ltd. | 2,700 | 75,912 |
NEC Corp. | 3,330 | 121,256 |
Nidec Corp. | 7,980 | 411,245 |
Nikon Corp. | 6,213 | 57,025 |
Nintendo Co., Ltd. | 1,429 | 555,386 |
Nippon Express Co., Ltd. | 1,094 | 53,364 |
Nippon Paint Holdings Co., Ltd. | 3,109 | 161,830 |
Nippon Telegraph & Telephone Corp. | 16,940 | 405,147 |
Nissan Chemical Corp. | 2,100 | 76,056 |
Nissan Motor Co., Ltd. | 30,385 | 101,659 |
Nisshin Seifun Group, Inc. | 5,086 | 84,846 |
Nissin Foods Holdings Co., Ltd. | 1,099 | 91,203 |
Nitori Holdings Co., Ltd. | 1,068 | 144,330 |
Nitto Denko Corp. | 2,286 | 101,542 |
Nomura Holdings, Inc. | 40,300 | 170,070 |
Table of Contents
Security | Shares | Value |
Japan (continued) | ||
Nomura Research Institute, Ltd. | 4,000 | $ 84,491 |
NTT Data Corp. | 7,335 | 70,215 |
NTT DoCoMo, Inc. | 13,797 | 431,475 |
Obayashi Corp. | 10,200 | 86,552 |
Obic Co., Ltd. | 800 | 104,232 |
Odakyu Electric Railway Co., Ltd. | 4,946 | 108,620 |
Oji Holdings Corp. | 14,654 | 77,903 |
Omron Corp. | 2,682 | 138,667 |
Ono Pharmaceutical Co., Ltd. | 6,722 | 154,474 |
Oracle Corp. Japan | 326 | 28,435 |
Oriental Land Co., Ltd.(1) | 3,297 | 420,885 |
ORIX Corp. | 15,167 | 180,952 |
Otsuka Corp. | 1,288 | 54,908 |
Otsuka Holdings Co., Ltd. | 5,420 | 211,480 |
Pan Pacific International Holdings Corp. | 8,168 | 154,680 |
PeptiDream, Inc.(2) | 1,300 | 45,252 |
Pola Orbis Holdings, Inc. | 700 | 12,869 |
Rakuten, Inc. | 9,449 | 71,236 |
Recruit Holdings Co., Ltd. | 23,479 | 606,492 |
Renesas Electronics Corp.(2) | 8,600 | 30,591 |
Resona Holdings, Inc. | 26,333 | 78,954 |
Ricoh Co., Ltd.(1) | 7,884 | 57,563 |
Rohm Co., Ltd. | 1,176 | 63,836 |
Santen Pharmaceutical Co., Ltd. | 5,200 | 89,241 |
SBI Holdings, Inc.(1) | 2,600 | 37,883 |
Seiko Epson Corp. | 3,259 | 35,076 |
Sekisui Chemical Co., Ltd. | 5,472 | 72,089 |
Sekisui House, Ltd. | 8,970 | 147,934 |
Seven & i Holdings Co., Ltd. | 12,701 | 419,449 |
SG Holdings Co., Ltd. | 2,200 | 52,401 |
Sharp Corp. | 2,799 | 29,055 |
Shimadzu Corp. | 2,826 | 73,754 |
Shimano, Inc. | 872 | 124,359 |
Shimizu Corp. | 11,700 | 91,048 |
Shin-Etsu Chemical Co., Ltd. | 5,237 | 514,730 |
Shionogi & Co., Ltd. | 3,454 | 170,142 |
Shiseido Co., Ltd. | 4,997 | 293,686 |
SMC Corp. | 832 | 348,811 |
SoftBank Group Corp. | �� 19,390 | 686,452 |
Sompo Holdings, Inc. | 3,637 | 112,107 |
Sony Corp. | 15,800 | 935,890 |
Sony Financial Holdings, Inc. | 2,132 | 35,800 |
Sumitomo Chemical Co., Ltd. | 23,800 | 70,316 |
Sumitomo Dainippon Pharma Co., Ltd. | 1,900 | 24,665 |
Sumitomo Electric Industries, Ltd. | 8,573 | 89,571 |
Sumitomo Mitsui Financial Group, Inc.(1) | 16,253 | 394,840 |
Sumitomo Mitsui Trust Holdings, Inc. | 4,116 | 118,253 |
Security | Shares | Value |
Japan (continued) | ||
Suntory Beverage & Food, Ltd. | 2,000 | $ 75,578 |
Suzuken Co., Ltd. | 1,300 | 47,231 |
Sysmex Corp. | 2,226 | 161,107 |
T&D Holdings, Inc. | 7,019 | 56,900 |
Taisho Pharmaceutical Holdings Co., Ltd. | 500 | 30,690 |
Taiyo Nippon Sanso Corp. | 2,000 | 29,594 |
Takeda Pharmaceutical Co., Ltd. | 20,852 | 634,904 |
TDK Corp. | 1,514 | 116,410 |
Terumo Corp. | 9,646 | 330,485 |
Tobu Railway Co., Ltd. | 2,317 | 80,833 |
Toho Co., Ltd. | 1,500 | 45,865 |
Tokio Marine Holdings, Inc. | 7,700 | 352,310 |
Tokyo Electron, Ltd. | 1,926 | 358,955 |
Tokyu Corp. | 7,032 | 110,504 |
Toray Industries, Inc. | 20,850 | 90,250 |
TOTO, Ltd. | 1,664 | 54,892 |
Toyota Industries Corp. | 1,775 | 84,632 |
Toyota Motor Corp. | 32,283 | 1,945,531 |
Trend Micro, Inc. | 1,493 | 73,728 |
Unicharm Corp. | 5,902 | 220,935 |
West Japan Railway Co. | 2,110 | 144,313 |
Yakult Honsha Co., Ltd. | 2,986 | 175,905 |
Yamaha Corp. | 2,244 | 86,967 |
Yamaha Motor Co., Ltd. | 3,425 | 41,185 |
Yaskawa Electric Corp. | 3,800 | 103,324 |
Yokogawa Electric Corp. | 3,400 | 40,673 |
Z Holdings Corp. | 36,700 | 117,005 |
ZOZO, Inc. | 2,500 | 33,553 |
$30,430,766 | ||
Netherlands — 3.5% | ||
ABN AMRO Group NV(3) | 5,628 | $45,670 |
Adyen NV(2)(3) | 347 | 296,450 |
Aegon NV | 22,510 | 56,217 |
AerCap Holdings NV(2) | 1,593 | 36,305 |
Akzo Nobel NV | 3,415 | 224,600 |
Argenx SE(2) | 553 | 72,792 |
ASML Holding NV | 5,189 | 1,367,896 |
ASR Nederland NV | 1,811 | 45,535 |
Euronext NV(3) | 945 | 69,583 |
GrandVision NV(3) | 755 | 20,641 |
ING Groep NV | 53,706 | 275,195 |
Just Eat Takeaway(1)(2)(3) | 1,656 | 125,231 |
Koninklijke Ahold Delhaize NV | 21,183 | 493,491 |
Koninklijke DSM NV | 2,976 | 334,767 |
Koninklijke KPN NV | 52,513 | 125,580 |
Koninklijke Philips NV | 13,289 | 545,611 |
Table of Contents
Security | Shares | Value |
Netherlands (continued) | ||
Koninklijke Vopak NV | 2,174 | $ 114,157 |
NN Group NV | 3,808 | 103,485 |
NXP Semiconductors NV | 3,876 | 321,437 |
QIAGEN NV(2) | 3,374 | 136,226 |
Randstad NV | 1,806 | 63,737 |
STMicroelectronics NV(4) | 4,600 | 98,884 |
STMicroelectronics NV(4) | 3,487 | 73,960 |
Wolters Kluwer NV | 4,187 | 296,904 |
$5,344,354 | ||
New Zealand — 0.2% | ||
a2 Milk Co., Ltd.(2) | 10,468 | $106,937 |
Auckland International Airport, Ltd. | 10,338 | 30,804 |
Fisher & Paykel Healthcare Corp., Ltd. | 6,063 | 110,216 |
Meridian Energy, Ltd. | 21,192 | 50,577 |
Xero, Ltd.(2) | 1,174 | 48,827 |
$347,361 | ||
Norway — 0.6% | ||
DNB ASA | 11,825 | $131,741 |
Gjensidige Forsikring ASA | 2,630 | 44,787 |
Mowi ASA | 8,197 | 123,934 |
Norsk Hydro ASA | 40,650 | 87,648 |
Orkla ASA | 15,564 | 133,348 |
Salmar ASA | 1,128 | 37,319 |
Schibsted ASA, Class A | 2,066 | 39,792 |
Telenor ASA | 9,713 | 141,962 |
Tomra Systems ASA | 1,950 | 54,452 |
Yara International ASA | 2,922 | 92,391 |
$887,374 | ||
Portugal — 0.2% | ||
EDP - Energias de Portugal SA | 43,944 | $176,804 |
EDP Renovaveis SA | 1,750 | 21,056 |
Jeronimo Martins SGPS SA | 5,525 | 99,721 |
$297,581 | ||
Russia — 0.1% | ||
Yandex NV, Class A(2) | 4,052 | $137,971 |
$137,971 | ||
Singapore — 0.8% | ||
BOC Aviation, Ltd.(3) | 2,900 | $18,321 |
CapitaLand, Ltd. | 44,541 | 89,257 |
City Developments, Ltd. | 7,330 | 37,168 |
DBS Group Holdings, Ltd. | 24,629 | 321,363 |
Security | Shares | Value |
Singapore (continued) | ||
Oversea-Chinese Banking Corp., Ltd. | 41,071 | $ 248,846 |
Singapore Airlines, Ltd.(1) | 13,056 | 52,996 |
Singapore Exchange, Ltd. | 10,400 | 66,981 |
Singapore Telecommunications, Ltd. | 120,112 | 214,127 |
United Overseas Bank, Ltd. | 17,059 | 234,050 |
$ 1,283,109 | ||
South Korea — 3.4% | ||
AMOREPACIFIC Corp. | 345 | $ 47,312 |
Celltrion, Inc.(2) | 1,258 | 233,990 |
Hana Financial Group, Inc. | 3,097 | 58,266 |
Hanon Systems | 2,459 | 17,857 |
Hyundai Mobis Co., Ltd. | 771 | 106,651 |
Hyundai Motor Co. | 1,945 | 140,121 |
Industrial Bank of Korea | 4,281 | 26,157 |
Kakao Corp. | 582 | 73,613 |
KB Financial Group, Inc. | 4,363 | 122,705 |
KT Corp. | 614 | 9,937 |
LG Chem, Ltd. | 729 | 180,560 |
LG Corp. | 1,322 | 64,038 |
LG Electronics, Inc. | 1,349 | 53,040 |
LG Household & Health Care, Ltd. | 118 | 108,087 |
Lotte Chemical Corp. | 296 | 46,468 |
NAVER Corp. | 1,678 | 233,300 |
NCSoft Corp. | 217 | 115,814 |
Netmarble Corp.(2)(3) | 471 | 35,881 |
Samsung C&T Corp. | 1,143 | 83,401 |
Samsung Electro-Mechanics Co., Ltd. | 653 | 51,743 |
Samsung Electronics Co., Ltd. | 62,304 | 2,422,472 |
Samsung Fire & Marine Insurance Co., Ltd. | 441 | 55,774 |
Samsung Life Insurance Co., Ltd. | 824 | 28,838 |
Samsung SDI Co., Ltd. | 675 | 131,416 |
Samsung SDS Co., Ltd. | 382 | 46,693 |
Shinhan Financial Group Co., Ltd. | 5,011 | 117,228 |
SK Hynix, Inc. | 6,541 | 442,198 |
SK Telecom Co., Ltd. | 361 | 52,506 |
Woori Financial Group, Inc. | 4,861 | 30,243 |
$5,136,309 | ||
Spain — 2.3% | ||
Acciona SA | 304 | $32,154 |
Aena SME SA(3) | 1,063 | 115,329 |
Amadeus IT Group SA | 5,388 | 253,607 |
Banco Bilbao Vizcaya Argentaria SA | 80,365 | 248,854 |
Banco de Sabadell SA | 88,280 | 44,645 |
Banco Santander SA | 199,376 | 474,280 |
Table of Contents
Security | Shares | Value |
Spain (continued) | ||
Bankia SA | 13,270 | $ 14,471 |
Bankinter SA | 7,422 | 26,924 |
CaixaBank SA | 38,631 | 71,491 |
Cellnex Telecom SA(3) | 4,289 | 194,560 |
Enagas SA | 7,899 | 155,825 |
Grifols SA | 6,180 | 206,767 |
Iberdrola SA | 88,460 | 865,228 |
Industria de Diseno Textil SA | 13,896 | 360,095 |
International Consolidated Airlines Group SA(4) | 16,783 | 43,588 |
International Consolidated Airlines Group SA(4) | 7,334 | 19,208 |
Mapfre SA | 10,241 | 17,373 |
Red Electrica Corp. SA | 6,260 | 112,489 |
Siemens Gamesa Renewable Energy SA | 3,049 | 44,991 |
Telefonica SA | 57,367 | 261,082 |
$3,562,961 | ||
Sweden — 2.7% | ||
AAK AB | 2,778 | $44,918 |
Alfa Laval AB | 3,719 | 63,673 |
Assa Abloy AB, Class B | 14,277 | 266,533 |
Atlas Copco AB, Class A | 13,818 | 459,507 |
Boliden AB | 9,319 | 167,182 |
Castellum AB | 3,669 | 61,861 |
Electrolux AB, Series B | 2,234 | 27,598 |
Electrolux Professional AB, Class B(2) | 2,234 | 6,436 |
Elekta AB, Class B | 4,502 | 36,702 |
Epiroc AB, Class A | 14,847 | 146,710 |
Essity AB, Class B | 7,926 | 242,802 |
Fabege AB | 3,364 | 42,919 |
Fastighets AB Balder, Class B(2) | 1,349 | 48,768 |
Hennes & Mauritz AB, Class B(1) | 9,568 | 122,440 |
Hexagon AB, Class B | 3,776 | 159,669 |
Husqvarna AB, Class B | 5,693 | 28,321 |
ICA Gruppen AB | 1,637 | 68,370 |
Industrivarden AB, Class A | 2,967 | 56,855 |
Investment AB Latour, Class B | 1,704 | 24,073 |
Kinnevik AB, Class B | 1,797 | 29,308 |
Nibe Industrier AB, Class B | 6,380 | 92,283 |
Sandvik AB | 15,055 | 211,774 |
Securitas AB, Class B | 3,903 | 41,928 |
Skandinaviska Enskilda Banken AB, Class A(2) | 18,992 | 127,191 |
Skanska AB, Class B(2) | 4,799 | 72,221 |
SKF AB, Class B(1) | 5,455 | 74,336 |
Spotify Technology SA(2) | 1,400 | 170,016 |
Svenska Cellulosa AB SCA, Class B(1)(2) | 8,492 | 84,035 |
Svenska Handelsbanken AB, Class A(2) | 17,750 | 146,386 |
Swedbank AB, Class A | 12,020 | 132,571 |
Security | Shares | Value |
Sweden (continued) | ||
Swedish Orphan Biovitrum AB(2) | 1,815 | $ 30,149 |
Tele2 AB, Class B | 5,529 | 73,663 |
Telefonaktiebolaget LM Ericsson, Class B | 34,618 | 280,231 |
Telia Co. AB | 32,225 | 115,345 |
Volvo AB, Class B | 24,557 | 291,883 |
$ 4,048,657 | ||
Switzerland — 9.8% | ||
ABB, Ltd. | 25,014 | $ 434,769 |
Adecco Group AG | 1,747 | 68,843 |
Alcon, Inc.(2) | 5,772 | 295,704 |
Baloise Holding AG | 476 | 62,057 |
Banque Cantonale Vaudoise | 21 | 17,191 |
Barry Callebaut AG | 38 | 76,059 |
Chocoladefabriken Lindt & Sprungli AG PC | 17 | 142,689 |
Chubb, Ltd. | 4,844 | 541,026 |
Cie Financiere Richemont SA | 5,949 | 317,997 |
Clariant AG | 2,465 | 41,028 |
Coca-Cola HBC AG | 2,889 | 61,958 |
Dufry AG | 238 | 7,304 |
Emmi AG | 28 | 25,465 |
EMS-Chemie Holding AG | 80 | 49,894 |
Flughafen Zuerich AG(2) | 288 | 32,219 |
Garmin, Ltd. | 1,738 | 130,280 |
Geberit AG | 434 | 190,170 |
Givaudan SA | 125 | 384,622 |
Helvetia Holding AG | 340 | 29,049 |
Julius Baer Group, Ltd. | 2,664 | 89,237 |
Kuehne & Nagel International AG | 566 | 77,101 |
Logitech International SA | 1,890 | 80,944 |
Lonza Group AG | 993 | 408,445 |
Nestle SA | 34,937 | 3,576,423 |
Novartis AG | 25,424 | 2,097,449 |
Partners Group Holding AG | 188 | 128,717 |
PSP Swiss Property AG | 472 | 59,023 |
Roche Holding AG | 8,636 | 2,778,563 |
SGS SA | 75 | 172,986 |
Sika AG | 1,630 | 267,667 |
Sonova Holding AG | 669 | 119,292 |
Straumann Holding AG | 132 | 96,506 |
Swatch Group AG (The) | 372 | 73,060 |
Swiss Life Holding AG | 336 | 112,777 |
Swiss Prime Site AG | 904 | 87,987 |
Swiss Re AG | 3,237 | 249,245 |
Swisscom AG | 291 | 155,825 |
TE Connectivity, Ltd. | 4,424 | 278,624 |
Temenos AG | 775 | 101,021 |
Table of Contents
Security | Shares | Value |
Switzerland (continued) | ||
UBS Group AG | 39,700 | $ 363,895 |
Vifor Pharma AG | 461 | 63,068 |
Zurich Insurance Group AG | 1,606 | 564,198 |
$ 14,910,377 | ||
Taiwan — 3.3% | ||
Advantech Co., Ltd. | 4,000 | $ 32,959 |
ASE Technology Holding Co., Ltd. | 37,904 | 73,421 |
Cathay Financial Holding Co., Ltd. | 103,357 | 120,291 |
Chang Hwa Commercial Bank, Ltd. | 82,840 | 52,299 |
China Steel Corp. | 382,000 | 239,288 |
Chunghwa Telecom Co., Ltd. | 49,055 | 173,914 |
CTBC Financial Holding Co., Ltd. | 261,000 | 153,687 |
Delta Electronics, Inc. | 22,319 | 88,334 |
E.Sun Financial Holding Co., Ltd. | 135,091 | 107,837 |
Far Eastern New Century Corp. | 27,000 | 20,078 |
Far EasTone Telecommunications Co., Ltd.(2) | 19,073 | 39,829 |
First Financial Holding Co., Ltd. | 127,214 | 82,206 |
Fubon Financial Holding Co., Ltd. | 99,000 | 122,367 |
Hotai Motor Co., Ltd. | 5,000 | 80,738 |
Hua Nan Financial Holdings Co., Ltd. | 98,310 | 58,485 |
MediaTek, Inc. | 18,883 | 202,675 |
Mega Financial Holding Co., Ltd. | 125,668 | 118,002 |
Nanya Technology Corp. | 16,000 | 28,160 |
President Chain Store Corp. | 10,828 | 101,228 |
Quanta Computer, Inc. | 31,398 | 62,173 |
Shanghai Commercial & Savings Bank, Ltd. (The) | 38,924 | 50,390 |
Taishin Financial Holding Co., Ltd. | 184,642 | 71,080 |
Taiwan Cooperative Financial Holding Co., Ltd. | 98,425 | 59,438 |
Taiwan High Speed Rail Corp. | 24,000 | 22,659 |
Taiwan Mobile Co., Ltd. | 20,748 | 68,506 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 276,240 | 2,486,798 |
Uni-President Enterprises Corp. | 91,000 | 196,962 |
Yuanta Financial Holding Co., Ltd. | 128,000 | 65,351 |
$4,979,155 | ||
United Kingdom — 12.8% | ||
3i Group PLC | 16,748 | $162,282 |
Admiral Group PLC | 3,352 | 92,314 |
Amcor PLC(2) | 35,217 | 285,962 |
Aon PLC | 3,431 | 566,252 |
Ashtead Group PLC | 9,296 | 200,923 |
Associated British Foods PLC | 8,677 | 194,362 |
AstraZeneca PLC | 16,892 | 1,505,059 |
Atlassian Corp. PLC, Class A(2) | 2,210 | 303,345 |
Auto Trader Group PLC(3) | 16,902 | 91,335 |
Security | Shares | Value |
United Kingdom (continued) | ||
AVEVA Group PLC | 1,083 | $ 46,661 |
Aviva PLC | 65,800 | 216,334 |
B&M European Value Retail SA | 14,765 | 50,145 |
Barratt Developments PLC | 18,662 | 100,874 |
Berkeley Group Holdings PLC | 2,267 | 101,184 |
BT Group PLC | 151,630 | 220,556 |
Bunzl PLC | 6,673 | 133,571 |
Burberry Group PLC | 7,893 | 128,299 |
Burford Capital, Ltd. | 3,144 | 16,137 |
Cineworld Group PLC | 17,871 | 10,896 |
Coca-Cola European Partners PLC | 4,925 | 184,835 |
Compass Group PLC | 29,046 | 452,540 |
Croda International PLC | 2,513 | 132,580 |
Direct Line Insurance Group PLC | 22,905 | 83,619 |
DS Smith PLC | 25,359 | 85,952 |
Farfetch, Ltd., Class A(1)(2) | 1,771 | 13,991 |
Ferguson PLC | 4,708 | 291,107 |
GlaxoSmithKline PLC | 68,486 | 1,285,082 |
Halma PLC | 8,224 | 193,149 |
Hargreaves Lansdown PLC | 5,534 | 94,027 |
Hikma Pharmaceuticals PLC | 2,489 | 62,589 |
Hiscox, Ltd. | 4,235 | 48,228 |
HomeServe PLC | 5,219 | 67,981 |
Informa PLC | 26,287 | 143,178 |
InterContinental Hotels Group PLC | 3,348 | 142,435 |
Intermediate Capital Group PLC | 6,043 | 66,698 |
Intertek Group PLC | 3,315 | 193,679 |
Investec PLC | 11,345 | 21,135 |
ITV PLC | 66,442 | 54,525 |
J Sainsbury PLC | 40,100 | 103,755 |
JD Sports Fashion PLC | 8,151 | 45,652 |
Johnson Matthey PLC | 3,735 | 82,297 |
Kingfisher PLC | 42,222 | 74,163 |
Legal & General Group PLC | 104,744 | 247,478 |
Liberty Global PLC, Class A(2) | 10,735 | 177,235 |
Linde PLC | 7,463 | 1,291,099 |
Lloyds Banking Group PLC | 1,072,717 | 419,380 |
London Stock Exchange Group PLC | 5,311 | 475,100 |
M&G PLC(2) | 40,835 | 56,802 |
Marks & Spencer Group PLC | 37,198 | 45,093 |
Melrose Industries PLC | 80,228 | 89,152 |
Micro Focus International PLC | 5,396 | 26,627 |
Mondi PLC | 10,651 | 179,742 |
National Grid PLC | 58,729 | 686,205 |
Next PLC | 2,163 | 108,515 |
Ninety One PLC(2) | 5,672 | 12,181 |
NMC Health PLC(5) | 1,955 | — |
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Security | Shares | Value |
United Kingdom (continued) | ||
Ocado Group PLC(2) | 10,963 | $ 164,448 |
Pearson PLC | 16,624 | 113,809 |
Persimmon PLC | 6,513 | 153,959 |
Phoenix Group Holdings PLC | 8,370 | 64,237 |
Prudential PLC | 40,102 | 502,472 |
RELX PLC | 32,003 | 683,022 |
Rentokil Initial PLC | 36,813 | 175,818 |
Rightmove PLC | 14,150 | 85,338 |
RSA Insurance Group PLC | 19,773 | 103,184 |
Sage Group PLC (The) | 18,685 | 135,869 |
Schroders PLC | 2,054 | 62,795 |
Severn Trent PLC | 4,892 | 138,478 |
Smith & Nephew PLC | 16,770 | 295,429 |
Smiths Group PLC | 9,701 | 146,264 |
Spirax-Sarco Engineering PLC | 1,573 | 157,918 |
SSE PLC | 20,959 | 336,791 |
St. James's Place PLC | 8,367 | 78,130 |
Standard Chartered PLC | 48,169 | 266,316 |
Standard Life Aberdeen PLC | 41,300 | 113,980 |
Taylor Wimpey PLC | 59,700 | 85,906 |
TechnipFMC PLC | 14,909 | 100,487 |
Tesco PLC | 194,875 | 550,332 |
Unilever PLC | 32,683 | 1,648,210 |
United Utilities Group PLC | 14,450 | 161,752 |
Vodafone Group PLC | 411,220 | 568,900 |
Weir Group PLC (The) | 5,212 | 46,356 |
Whitbread PLC | 2,878 | 106,663 |
WM Morrison Supermarkets PLC | 62,868 | 137,345 |
WPP PLC | 24,860 | 169,021 |
$19,517,526 | ||
United States — 0.1% | ||
Sensata Technologies Holding PLC(2) | 3,579 | $103,540 |
$103,540 | ||
Total Common Stocks (identified cost $171,368,687) | $150,588,963 |
Short-Term Investments — 0.6% |
Security | Shares | Value |
State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(6) | 952,215 | $ 952,215 |
Total Short-Term Investments (identified cost $952,215) | $ 952,215 | |
Total Investments — 99.6% (identified cost $172,320,902) | $151,541,178 | |
Other Assets, Less Liabilities — 0.4% | $ 544,181 | |
Net Assets — 100.0% | $152,085,359 |
The percentage shown for each investment category in the Schedule of Investments is based on net assets.The country classifications used for financial reporting purposes may differ from the classifications determined by Calvert Research and Management (CRM). | ||
(1) | All or a portion of this security was on loan at March 31, 2020. The aggregate market value of securities on loan at March 31, 2020 was $3,339,641. | |
(2) | Non-income producing security. | |
(3) | Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. Total market value of Rule 144A securities amounts to $2,158,106, which represents 1.4% of the net assets of the Fund as of March 31, 2020. | |
(4) | Securities are traded on separate exchanges for the same entity. | |
(5) | For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 1A). | |
(6) | Represents investment of cash collateral received in connection with securities lending. |
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Economic Sectors | % of Net Assets |
Financials | 19.7% |
Health Care | 13.9 |
Industrials | 13.4 |
Information Technology | 12.1 |
Consumer Discretionary | 10.5 |
Consumer Staples | 10.5 |
Communication Services | 6.4 |
Materials | 5.9 |
Utilities | 3.6 |
Real Estate | 2.3 |
Energy | 0.7 |
Total | 99.0% |
Abbreviations: | |
ADR | – American Depositary Receipt |
FDR | – Fiduciary Depositary Receipt |
PC | – Participation Certificate |
PFC Shares | – Preference Shares |
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March 31, 2020 | |
Assets | |
Investments in securities of unaffiliated issuers, at value (identified cost $172,320,902) - including $3,339,641 of securities on loan | $151,541,178 |
Cash | 6,846,732 |
Cash denominated in foreign currency, at value (cost $393,775) | 395,013 |
Receivable for investments sold | 26,181 |
Receivable for capital shares sold | 888,284 |
Dividends receivable | 509,265 |
Securities lending income receivable | 901 |
Tax reclaims receivable | 188,461 |
Receivable from affiliate | 59,681 |
Directors' deferred compensation plan | 56,072 |
Total assets | $160,511,768 |
Liabilities | |
Payable for investments purchased | $7,096,618 |
Payable for capital shares redeemed | 153,986 |
Deposits for securities loaned | 952,215 |
Payable to affiliates: | |
Investment advisory fee | 14,751 |
Administrative fee | 14,751 |
Distribution and service fees | 9,214 |
Sub-transfer agency fee | 771 |
Directors' deferred compensation plan | 56,072 |
Accrued expenses | 128,031 |
Total liabilities | $8,426,409 |
Net Assets | $152,085,359 |
Sources of Net Assets | |
Paid-in capital | $178,787,209 |
Accumulated loss | (26,701,850) |
Total | $152,085,359 |
Class A Shares | |
Net Assets | $42,890,502 |
Shares Outstanding | 2,242,170 |
Net Asset Value and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $19.13 |
Maximum Offering Price Per Share (100 ÷ 95.25 of net asset value per share) | $20.08 |
Class I Shares | |
Net Assets | $94,809,008 |
Shares Outstanding | 4,890,649 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $19.39 |
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March 31, 2020 | |
Class R6 Shares | |
Net Assets | $14,385,849 |
Shares Outstanding | 742,242 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $19.38 |
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Six Months Ended | |
March 31, 2020 | |
Investment Income | |
Dividend income (net of foreign taxes withheld of $154,144) | $1,444,130 |
Interest income | 3,535 |
Securities lending income, net | 5,568 |
Total investment income | $1,453,233 |
Expenses | |
Investment advisory fee | $88,323 |
Administrative fee | 88,323 |
Distribution and service fees: | |
Class A | 56,870 |
Directors' fees and expenses | 4,182 |
Custodian fees | 23,932 |
Transfer agency fees and expenses | 60,144 |
Accounting fees | 27,327 |
Professional fees | 19,173 |
Registration fees | 33,841 |
Reports to shareholders | 10,177 |
Miscellaneous | 21,097 |
Total expenses | $433,389 |
Waiver and/or reimbursement of expenses by affiliate | $(162,736) |
Reimbursement of expenses - other | (2,149) |
Net expenses | $268,504 |
Net investment income | $1,184,729 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment securities | $(234,299) |
Foreign currency transactions | (36,899) |
Net realized loss | $(271,198) |
Change in unrealized appreciation (depreciation): | |
Investment securities | $(27,417,710) |
Foreign currency | (9,287) |
Net change in unrealized appreciation (depreciation) | $(27,426,997) |
Net realized and unrealized loss | $(27,698,195) |
Net decrease in net assets from operations | $(26,513,466) |
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Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $1,184,729 | $3,029,086 |
Net realized loss | (271,198) | (5,546,347) |
Net change in unrealized appreciation (depreciation) | (27,426,997) | 2,812,928 |
Net increase (decrease) in net assets from operations | $(26,513,466) | $295,667 |
Distributions to shareholders: | ||
Class A | $(862,937) | $(485,837) |
Class I | (1,333,282) | (1,756,165) |
Class R6 | (297,907) | — |
Total distributions to shareholders | $(2,494,126) | $(2,242,002) |
Capital share transactions: | ||
Class A | $17,400,618 | $9,896,812 |
Class I | 44,374,260 | (18,412,010) |
Class R6 | 252,023 | 16,859,470(1) |
Net increase in net assets from capital share transactions | $62,026,901 | $8,344,272 |
Net increase in net assets | $33,019,309 | $6,397,937 |
Net Assets | ||
At beginning of period | $119,066,050 | $112,668,113 |
At end of period | $152,085,359 | $119,066,050 |
(1) | For the period from the commencement of operations, February 1, 2019, to September 30, 2019. |
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Class A | |||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | Period Ended September 30, 2016(1) | |||
2019 | 2018 | 2017 | |||
Net asset value — Beginning of period | $22.81 | $23.18 | $23.11 | $20.03 | $20.00 |
Income (Loss) From Operations | |||||
Net investment income(2) | $0.16 | $0.56 | $0.62 | $0.41 | $0.43 |
Net realized and unrealized gain (loss) | (3.45) | (0.51) | (0.23) | 3.10 | (0.38) |
Total income (loss) from operations | $(3.29) | $0.05 | $0.39 | $3.51 | $0.05 |
Less Distributions | |||||
From net investment income | $(0.39) | $(0.42) | $(0.32) | $(0.43) | $(0.02) |
Total distributions | $(0.39) | $(0.42) | $(0.32) | $(0.43) | $(0.02) |
Net asset value — End of period | $19.13 | $22.81 | $23.18 | $23.11 | $20.03 |
Total Return(3) | (14.75)%(4) | 0.34% | 1.67% | 17.98% | 0.25%(4) |
Ratios/Supplemental Data | |||||
Net assets, end of period (000’s omitted) | $42,891 | $34,344 | $24,415 | $5,968 | $3,714 |
Ratios (as a percentage of average daily net assets):(5) | |||||
Total expenses | 0.76%(6) | 0.89% | 1.03% | 3.00% | 5.53%(6) |
Net expenses | 0.54%(6) | 0.57% | 0.62% | 0.62% | 0.62%(6) |
Net investment income | 1.38%(6) | 2.56% | 2.66% | 1.96% | 2.47%(6) |
Portfolio Turnover | 4%(4) | 51% | 24% | 26% | 35%(4) |
(1) | From October 30, 2015 inception. |
(2) | Computed using average shares outstanding. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
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Class I | |||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | Period Ended September 30, 2016(1) | |||
2019 | 2018 | 2017 | |||
Net asset value — Beginning of period | $23.12 | $23.47 | $23.32 | $20.08 | $20.00 |
Income (Loss) From Operations | |||||
Net investment income(2) | $0.20 | $0.60 | $0.64 | $0.63 | $0.51 |
Net realized and unrealized gain (loss) | (3.51) | (0.50) | (0.17) | 3.00 | (0.40) |
Total income (loss) from operations | $(3.31) | $0.10 | $0.47 | $3.63 | $0.11 |
Less Distributions | |||||
From net investment income | $(0.42) | $(0.45) | $(0.32) | $(0.39) | $(0.03) |
Total distributions | $(0.42) | $(0.45) | $(0.32) | $(0.39) | $(0.03) |
Net asset value — End of period | $19.39 | $23.12 | $23.47 | $23.32 | $20.08 |
Total Return(3) | (14.64)%(4) | 0.60% | 2.04% | 18.42% | 0.56%(4) |
Ratios/Supplemental Data | |||||
Net assets, end of period (000’s omitted) | $94,809 | $67,854 | $88,253 | $30,815 | $2,571 |
Ratios (as a percentage of average daily net assets):(5) | |||||
Total expenses | 0.51%(6) | 0.64% | 0.79% | 1.43% | 4.81%(6) |
Net expenses | 0.29%(6) | 0.29% | 0.27% | 0.27% | 0.27%(6) |
Net investment income | 1.72%(6) | 2.73% | 2.71% | 2.85% | 2.90%(6) |
Portfolio Turnover | 4%(4) | 51% | 24% | 26% | 35%(4) |
(1) | From October 30, 2015 inception. |
(2) | Computed using average shares outstanding. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
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Class R6 | ||
Six Months Ended March 31, 2020 (Unaudited) | Period Ended September 30, 2019(1) | |
Net asset value — Beginning of period | $23.12 | $21.50 |
Income (Loss) From Operations | ||
Net investment income(2) | $0.19 | $0.51 |
Net realized and unrealized gain (loss) | (3.50) | 1.11 |
Total income (loss) from operations | $(3.31) | $1.62 |
Less Distributions | ||
From net investment income | $(0.43) | $— |
Total distributions | $(0.43) | $— |
Net asset value — End of period | $19.38 | $23.12 |
Total Return(3) | (14.61)%(4) | 7.54%(4) |
Ratios/Supplemental Data | ||
Net assets, end of period (000’s omitted) | $14,386 | $16,867 |
Ratios (as a percentage of average daily net assets):(5) | ||
Total expenses | 0.48%(6) | 0.56%(6) |
Net expenses | 0.26%(6) | 0.26%(6) |
Net investment income | 1.61%(6) | 3.40%(6) |
Portfolio Turnover | 4%(4) | 51%(7) |
(1) | For the period from the commencement of operations, February 1, 2019, to September 30, 2019. |
(2) | Computed using average shares outstanding. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
(7) | For the year ended September 30, 2019. |
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Asset Description | Level 1 | Level 2 | Level 3(1) | Total |
Common Stocks | ||||
Australia | $— | $6,837,075 | $— | $6,837,075 |
Austria | — | 239,131 | — | 239,131 |
Belgium | — | 1,251,358 | — | 1,251,358 |
Canada | 11,980,080 | — | — | 11,980,080 |
China | — | 1,008,522 | — | 1,008,522 |
Denmark | 53,490 | 2,893,220 | — | 2,946,710 |
Finland | — | 1,717,922 | — | 1,717,922 |
France | — | 13,186,157 | — | 13,186,157 |
Germany | — | 10,220,429 | — | 10,220,429 |
Hong Kong | — | 4,952,170 | — | 4,952,170 |
Ireland | 123,452 | 1,424,275 | — | 1,547,727 |
Israel | 340,885 | 400,380 | — | 741,265 |
Italy | — | 2,973,376 | — | 2,973,376 |
Japan | — | 30,430,766 | — | 30,430,766 |
Netherlands | 357,742 | 4,986,612 | — | 5,344,354 |
New Zealand | — | 347,361 | — | 347,361 |
Norway | — | 887,374 | — | 887,374 |
Portugal | — | 297,581 | — | 297,581 |
Russia | 137,971 | — | — | 137,971 |
Singapore | — | 1,283,109 | — | 1,283,109 |
South Korea | — | 5,136,309 | — | 5,136,309 |
Spain | — | 3,562,961 | — | 3,562,961 |
Sweden | 176,452 | 3,872,205 | — | 4,048,657 |
Switzerland | 949,930 | 13,960,447 | — | 14,910,377 |
Taiwan | — | 4,979,155 | — | 4,979,155 |
United Kingdom | 2,935,387 | 16,582,139 | — | 19,517,526 |
United States | 103,540 | — | — | 103,540 |
Total Common Stocks | $17,158,929 | $133,430,034(2) | $— | $150,588,963 |
Short-Term Investments | $952,215 | $— | $— | $952,215 |
Total Investments | $18,111,144 | $133,430,034 | $ — | $151,541,178 |
(1) | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |
(2) | Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets. |
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Aggregate cost | $175,781,746 |
Gross unrealized appreciation | $3,753,437 |
Gross unrealized depreciation | (27,994,005) |
Net unrealized depreciation | $(24,240,568) |
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Remaining Contractual Maturity of the Transactions | |||||
Overnight and Continuous | <30 days | 30 to 90 days | >90 days | Total | |
Securities Lending Transactions | |||||
Common Stocks | $952,215 | $ — | $ — | $ — | $952,215 |
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019(1) | ||||
Shares | Amount | Shares | Amount | ||
Class A | |||||
Shares sold | 1,069,684 | $25,115,956 | 703,350 | $15,299,942 | |
Reinvestment of distributions | 13,236 | 309,465 | 10,990 | 232,322 | |
Shares redeemed | (346,275) | (8,024,803) | (261,852) | (5,635,452) | |
Net increase | 736,645 | $17,400,618 | 452,488 | $9,896,812 |
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Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019(1) | ||||
Shares | Amount | Shares | Amount | ||
Class I | |||||
Shares sold | 2,653,741 | $60,198,726 | 1,993,882 | $43,601,493 | |
Reinvestment of distributions | 56,217 | 1,331,213 | 82,038 | 1,753,971 | |
Shares redeemed | (754,362) | (17,155,679) | (2,901,221) | (63,767,474) | |
Net increase (decrease) | 1,955,596 | $44,374,260 | (825,301) | $(18,412,010) | |
Class R6 | |||||
Shares sold | 50,925 | $1,131,161 | 1,337,787 | $30,718,857 | |
Reinvestment of distributions | 12,586 | 297,907 | — | — | |
Shares redeemed | (50,904) | (1,177,045) | (608,152) | (13,859,387) | |
Net increase | 12,607 | $252,023 | 729,635 | $16,859,470 |
(1) | For Class R6, for the period from the commencement of operations, February 1, 2019, to September 30, 2019. |
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Officers |
Hope L. Brown Chief Compliance Officer |
Maureen A. Gemma Vice President, Secretary and Chief Legal Officer |
James F. Kirchner Treasurer |
Directors |
Alice Gresham Bullock Chairperson |
Richard L. Baird, Jr. |
Cari M. Dominguez |
John G. Guffey, Jr. |
Miles D. Harper, III |
Joy V. Jones |
John H. Streur* |
Anthony A. Williams |
*Interested Director and President |
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• | At the time of opening an account, Eaton Vance generally requires you to provide us with certain information such as name, address, social security number, tax status, account numbers, and account balances. This information is necessary for us to both open an account for you and to allow us to satisfy legal requirements such as applicable anti-money laundering reviews and know-your-customer requirements. |
• | On an ongoing basis, in the normal course of servicing your account, Eaton Vance may share your information with unaffiliated third parties that perform various services for Eaton Vance and/or your account. These third parties include transfer agents, custodians, broker/dealers and our professional advisers, including auditors, accountants, and legal counsel. Eaton Vance may additionally share your personal information with our affiliates. |
• | We believe our Privacy Program is reasonably designed to protect the confidentiality of your personal information and to prevent unauthorized access to that information. |
• | We reserve the right to change our Privacy Program at any time upon proper notification to you. You may want to review our Privacy Program periodically for changes by accessing the link on our homepage: www.eatonvance.com. |
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% Average Annual Total Returns1,2 | Class Inception Date | Performance Inception Date | Six Months | One Year | Five Years | Since Inception |
Class A at NAV | 06/19/2015 | 06/19/2015 | (19.81)% | (14.70)% | —% | 1.36% |
Class A with 4.75% Maximum Sales Charge | — | — | (23.63) | (18.77) | — | 0.33 |
Class I at NAV | 06/19/2015 | 06/19/2015 | (19.71) | (14.51) | — | 1.69 |
·· | ||||||
Russell 1000® Value Index | — | — | (21.30)% | (17.17)% | 1.90% | 1.49% |
Calvert US Large-Cap Value Responsible Index | — | — | (19.91) | (14.57) | — | 1.88 |
% Total Annual Operating Expense Ratios3 | Class A | Class I |
Gross | 0.69% | 0.44% |
Net | 0.50 | 0.25 |
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Top 10 Holdings (% of net assets)* | |
JPMorgan Chase & Co. | 3.2% |
Verizon Communications, Inc. | 2.6 |
Apple, Inc. | 2.5 |
AT&T, Inc. | 2.4 |
Intel Corp. | 2.3 |
Bank of America Corp. | 2.2 |
Procter & Gamble Co. (The) | 1.9 |
Cisco Systems, Inc. | 1.8 |
Walmart, Inc. | 1.6 |
Comcast Corp., Class A | 1.4 |
Total | 21.9% |
* | Excludes cash and cash equivalents. |
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1 | Russell 1000® Value Index is an unmanaged index of U.S. large-cap value stocks. Calvert US Large-Cap Value Responsible Index (the “Calvert Index”) is composed of common stocks of large value companies that operate their businesses in a manner that is consistent with the Calvert Principles for Responsible Investment. Large value companies are selected from the 1,000 largest publicly traded U.S. companies based on market capitalization and value style factors, excluding real estate investment trusts and business development companies. The Calvert Principles of Responsible Investment serve as a framework for considering environmental, social and governance factors that may affect investment performance. Stocks are weighted in the Calvert Index based on their float-adjusted market capitalization within the relevant sector, subject to certain prescribed limits. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 | Total Returns at NAV do not include applicable sales charges. If sales charges were deducted, the returns would be lower. Total Returns shown with maximum sales charge reflect the stated maximum sales charge. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares. Performance since inception for an index, if presented, is the performance since the Fund's or oldest share class' inception, as applicable.Calvert Research and Management became the investment adviser to the Fund on December 31, 2016. Performance reflected prior to such date is that of the Fund’s former investment adviser. |
3 | Source: Fund prospectus. Net expense ratios reflect a contractual expense reimbursement that continues through 1/31/21. Without the reimbursement, performance would have been lower. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report. |
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Beginning Account Value (10/1/19) | Ending Account Value (3/31/20) | Expenses Paid During Period* (10/1/19 – 3/31/20) | Annualized Expense Ratio | |
Actual | ||||
Class A | $1,000.00 | $801.90 | $2.21** | 0.49% |
Class I | $1,000.00 | $802.90 | $1.08** | 0.24% |
Hypothetical | ||||
(5% return per year before expenses) | ||||
Class A | $1,000.00 | $1,022.55 | $2.48** | 0.49% |
Class I | $1,000.00 | $1,023.80 | $1.21** | 0.24% |
* | Expenses are equal to the Fund's annualized expense ratio for the indicated Class, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). The Example assumes that the $1,000 was invested at the net asset value per share determined at the close of business on September 30, 2019. |
** | Absent a waiver and/or reimbursement of expenses by an affiliate, expenses would be higher. |
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Common Stocks — 99.3% |
Security | Shares | Value |
Aerospace & Defense — 0.0%(1) | ||
Hexcel Corp. | 1,445 | $ 53,740 |
Moog, Inc., Class A | 3,495 | 176,602 |
$ 230,342 | ||
Air Freight & Logistics — 1.3% | ||
C.H. Robinson Worldwide, Inc. | 9,376 | $ 620,691 |
Expeditors International of Washington, Inc. | 876 | 58,447 |
FedEx Corp. | 18,153 | 2,201,233 |
United Parcel Service, Inc., Class B | 33,862 | 3,163,388 |
$6,043,759 | ||
Airlines — 1.0% | ||
Alaska Air Group, Inc. | 10,781 | $306,935 |
American Airlines Group, Inc. | 40,959 | 499,290 |
Delta Air Lines, Inc. | 48,032 | 1,370,353 |
JetBlue Airways Corp.(2) | 2,216 | 19,833 |
SkyWest, Inc. | 4,059 | 106,305 |
Southwest Airlines Co. | 42,413 | 1,510,327 |
Spirit Airlines, Inc.(2) | 4,819 | 62,117 |
United Airlines Holdings, Inc.(2) | 23,903 | 754,140 |
$4,629,300 | ||
Auto Components — 0.5% | ||
Aptiv PLC | 17,715 | $872,287 |
Autoliv, Inc. | 6,075 | 279,511 |
BorgWarner, Inc. | 20,114 | 490,178 |
Gentex Corp. | 9,951 | 220,514 |
Lear Corp. | 5,916 | 480,675 |
$2,343,165 | ||
Automobiles — 0.4% | ||
Ford Motor Co. | 319,880 | $1,545,020 |
Harley-Davidson, Inc.(3) | 15,311 | 289,837 |
Thor Industries, Inc. | 2,564 | 108,150 |
$1,943,007 | ||
Banks — 12.1% | ||
Associated Banc-Corp. | 13,966 | $178,625 |
BancorpSouth Bank | 9,190 | 173,875 |
Bank of America Corp. | 476,967 | 10,126,009 |
Bank of Hawaii Corp. | 3,461 | 191,186 |
Bank OZK | 12,548 | 209,552 |
BankUnited, Inc. | 8,113 | 151,713 |
BOK Financial Corp. | 2,814 | 119,764 |
Security | Shares | Value |
Banks (continued) | ||
CenterState Bank Corp. | 10,684 | $ 184,085 |
CIT Group, Inc. | 10,061 | 173,653 |
Citigroup, Inc. | 121,441 | 5,115,095 |
Citizens Financial Group, Inc. | 41,435 | 779,392 |
Comerica, Inc. | 13,210 | 387,581 |
Commerce Bancshares, Inc. | 9,549 | 480,792 |
Community Bank System, Inc. | 4,965 | 291,942 |
Cullen/Frost Bankers, Inc. | 5,460 | 304,613 |
CVB Financial Corp. | 13,553 | 271,738 |
East West Bancorp, Inc. | 13,505 | 347,619 |
F.N.B. Corp. | 31,878 | 234,941 |
Fifth Third Bancorp | 67,358 | 1,000,266 |
First Citizens BancShares, Inc., Class A | 582 | 193,730 |
First Financial Bankshares, Inc. | 5,918 | 158,839 |
First Hawaiian, Inc. | 13,402 | 221,535 |
First Horizon National Corp. | 30,658 | 247,104 |
First Republic Bank | 9,718 | 799,597 |
Glacier Bancorp, Inc. | 8,253 | 280,643 |
Hancock Whitney Corp. | 7,340 | 143,277 |
Home BancShares, Inc. | 15,824 | 189,730 |
Huntington Bancshares, Inc. | 98,072 | 805,171 |
IBERIABANK Corp. | 5,342 | 193,167 |
Investors Bancorp, Inc. | 20,319 | 162,349 |
JPMorgan Chase & Co. | 163,943 | 14,759,788 |
KeyCorp | 91,836 | 952,339 |
M&T Bank Corp. | 12,548 | 1,297,840 |
Old National Bancorp | 17,205 | 226,934 |
PacWest Bancorp | 12,051 | 215,954 |
People's United Financial, Inc. | 41,732 | 461,139 |
Pinnacle Financial Partners, Inc. | 7,254 | 272,315 |
PNC Financial Services Group, Inc. (The) | 28,630 | 2,740,464 |
Popular, Inc. | 8,173 | 286,055 |
Prosperity Bancshares, Inc. | 8,438 | 407,134 |
Regions Financial Corp. | 93,852 | 841,852 |
Signature Bank | 5,246 | 421,726 |
Sterling Bancorp | 20,257 | 211,686 |
SVB Financial Group(2) | 3,657 | 552,500 |
Synovus Financial Corp. | 14,374 | 252,407 |
Texas Capital Bancshares, Inc.(2) | 4,600 | 101,982 |
Truist Financial Corp. | 86,370 | 2,663,651 |
U.S. Bancorp | 95,451 | 3,288,287 |
UMB Financial Corp. | 4,540 | 210,565 |
Umpqua Holdings Corp. | 22,087 | 240,748 |
United Bankshares, Inc. | 8,688 | 200,519 |
Valley National Bancorp | 39,094 | 285,777 |
Webster Financial Corp. | 8,050 | 184,345 |
Western Alliance Bancorp | 9,189 | 281,275 |
Table of Contents
Security | Shares | Value |
Banks (continued) | ||
Wintrust Financial Corp. | 5,830 | $ 191,574 |
Zions Bancorp NA | 15,736 | 421,095 |
$ 56,087,534 | ||
Beverages — 2.8% | ||
Coca-Cola Co. (The) | 147,749 | $ 6,537,893 |
Keurig Dr Pepper, Inc. | 21,530 | 522,533 |
PepsiCo, Inc. | 50,526 | 6,068,173 |
$ 13,128,599 | ||
Biotechnology — 3.7% | ||
AbbVie, Inc. | 18,775 | $1,430,467 |
Allogene Therapeutics, Inc.(2)(3) | 5,512 | 107,153 |
Amgen, Inc. | 23,888 | 4,842,814 |
Amicus Therapeutics, Inc.(2) | 31,085 | 287,226 |
Biogen, Inc.(2) | 5,445 | 1,722,689 |
Blueprint Medicines Corp.(2) | 6,061 | 354,447 |
FibroGen, Inc.(2) | 9,958 | 346,041 |
Gilead Sciences, Inc. | 76,779 | 5,739,998 |
Global Blood Therapeutics, Inc.(2)(3) | 7,292 | 372,548 |
Sage Therapeutics, Inc.(2) | 6,360 | 182,659 |
Seattle Genetics, Inc.(2) | 12,692 | 1,464,403 |
Ultragenyx Pharmaceutical, Inc.(2) | 6,769 | 300,747 |
$17,151,192 | ||
Building Products — 0.8% | ||
Fortune Brands Home & Security, Inc. | 7,283 | $314,990 |
Johnson Controls International PLC | 61,694 | 1,663,270 |
Masco Corp. | 4,862 | 168,079 |
Owens Corning | 16,297 | 632,487 |
Trane Technologies PLC | 11,777 | 972,662 |
$3,751,488 | ||
Capital Markets — 5.9% | ||
Affiliated Managers Group, Inc. | 1,345 | $79,543 |
Ameriprise Financial, Inc. | 11,882 | 1,217,667 |
Bank of New York Mellon Corp. (The) | 66,203 | 2,229,717 |
BlackRock, Inc. | 7,770 | 3,418,567 |
Charles Schwab Corp. (The) | 48,397 | 1,627,107 |
CME Group, Inc. | 10,694 | 1,849,100 |
E*Trade Financial Corp. | 10,727 | 368,151 |
Evercore, Inc., Class A | 426 | 19,622 |
Franklin Resources, Inc. | 26,342 | 439,648 |
Goldman Sachs Group, Inc. (The) | 20,657 | 3,193,366 |
Houlihan Lokey, Inc., Class A | 1,654 | 86,206 |
Interactive Brokers Group, Inc., Class A | 4,416 | 190,639 |
Security | Shares | Value |
Capital Markets (continued) | ||
Intercontinental Exchange, Inc. | 24,646 | $ 1,990,165 |
Invesco, Ltd. | 37,980 | 344,858 |
KKR & Co., Inc., Class A | 52,619 | 1,234,968 |
Lazard, Ltd., Class A | 10,115 | 238,309 |
Legg Mason, Inc. | 7,745 | 378,343 |
LPL Financial Holdings, Inc. | 3,049 | 165,957 |
Morgan Stanley | 78,036 | 2,653,224 |
Nasdaq, Inc. | 5,000 | 474,750 |
Northern Trust Corp. | 19,885 | 1,500,522 |
Raymond James Financial, Inc. | 11,801 | 745,823 |
State Street Corp. | 30,234 | 1,610,565 |
Stifel Financial Corp. | 6,767 | 279,342 |
T. Rowe Price Group, Inc. | 5,314 | 518,912 |
TD Ameritrade Holding Corp. | 13,790 | 477,961 |
Virtu Financial, Inc., Class A | 7,697 | 160,252 |
$27,493,284 | ||
Chemicals — 1.8% | ||
Air Products & Chemicals, Inc. | 10,506 | $2,097,103 |
Ashland Global Holdings, Inc. | 4,084 | 204,486 |
Axalta Coating Systems, Ltd.(2) | 1,257 | 21,708 |
Celanese Corp. | 7,197 | 528,188 |
Eastman Chemical Co. | 17,441 | 812,402 |
Ecolab, Inc. | 3,904 | 608,360 |
FMC Corp. | 4,481 | 366,053 |
International Flavors & Fragrances, Inc. | 2,951 | 301,238 |
LyondellBasell Industries NV, Class A | 25,017 | 1,241,594 |
Mosaic Co. (The) | 44,965 | 486,521 |
PPG Industries, Inc. | 15,853 | 1,325,311 |
Sensient Technologies Corp. | 3,686 | 160,378 |
WR Grace & Co. | 1,555 | 55,358 |
$8,208,700 | ||
Commercial Services & Supplies — 0.6% | ||
ADT, Inc. | 5,980 | $25,834 |
IAA, Inc.(2) | 4,165 | 124,784 |
KAR Auction Services, Inc. | 4,309 | 51,708 |
MSA Safety, Inc. | 682 | 69,018 |
Republic Services, Inc. | 15,106 | 1,133,856 |
UniFirst Corp. | 578 | 87,330 |
Waste Management, Inc. | 14,004 | 1,296,210 |
$2,788,740 | ||
Communications Equipment — 1.9% | ||
Ciena Corp.(2) | 911 | $36,267 |
Cisco Systems, Inc. | 210,392 | 8,270,510 |
Table of Contents
Security | Shares | Value |
Communications Equipment (continued) | ||
EchoStar Corp., Class A(2) | 4,080 | $ 130,438 |
Juniper Networks, Inc. | 26,020 | 498,023 |
ViaSat, Inc.(2) | 821 | 29,490 |
Viavi Solutions, Inc.(2) | 5,845 | 65,522 |
$ 9,030,250 | ||
Construction & Engineering — 0.3% | ||
EMCOR Group, Inc. | 8,243 | $ 505,461 |
MasTec, Inc.(2) | 7,485 | 244,984 |
Quanta Services, Inc. | 21,894 | 694,696 |
$1,445,141 | ||
Consumer Finance — 1.6% | ||
Ally Financial, Inc. | 35,795 | $516,522 |
American Express Co. | 30,815 | 2,638,072 |
Capital One Financial Corp. | 32,957 | 1,661,692 |
Discover Financial Services | 28,049 | 1,000,508 |
FirstCash, Inc. | 540 | 38,739 |
OneMain Holdings, Inc. | 9,023 | 172,520 |
SLM Corp.(3) | 41,759 | 300,247 |
Synchrony Financial | 58,312 | 938,240 |
$7,266,540 | ||
Containers & Packaging — 0.8% | ||
AptarGroup, Inc. | 1,245 | $123,927 |
Ardagh Group S.A. | 1,821 | 21,597 |
Berry Global Group, Inc.(2) | 9,230 | 311,143 |
Crown Holdings, Inc.(2) | 11,649 | 676,108 |
Packaging Corp. of America | 12,017 | 1,043,436 |
Silgan Holdings, Inc. | 9,747 | 282,858 |
Sonoco Products Co. | 10,932 | 506,698 |
WestRock Co. | 32,905 | 929,896 |
$3,895,663 | ||
Distributors — 0.2% | ||
Genuine Parts Co. | 10,126 | $681,784 |
LKQ Corp.(2) | 14,254 | 292,349 |
$974,133 | ||
Diversified Consumer Services — 0.3% | ||
Chegg, Inc.(2) | 5,085 | $181,941 |
Graham Holdings Co., Class B | 324 | 110,539 |
H&R Block, Inc.(3) | 14,962 | 210,665 |
Laureate Education, Inc., Class A(2) | 7,559 | 79,445 |
Service Corp. International | 10,442 | 408,387 |
ServiceMaster Global Holdings, Inc.(2) | 4,752 | 128,304 |
Security | Shares | Value |
Diversified Consumer Services (continued) | ||
Strategic Education, Inc. | 558 | $ 77,986 |
$ 1,197,267 | ||
Diversified Financial Services — 0.3% | ||
Equitable Holdings, Inc. | 42,122 | $ 608,663 |
Jefferies Financial Group, Inc. | 24,156 | 330,212 |
Voya Financial, Inc. | 13,316 | 539,964 |
$ 1,478,839 | ||
Diversified Telecommunication Services — 5.4% | ||
AT&T, Inc. | 392,486 | $11,440,967 |
CenturyLink, Inc. | 83,525 | 790,146 |
GCI Liberty, Inc., Class A(2) | 8,035 | 457,754 |
Iridium Communications, Inc.(2) | 1,586 | 35,415 |
Verizon Communications, Inc. | 228,168 | 12,259,467 |
$24,983,749 | ||
Electric Utilities — 2.0% | ||
Alliant Energy Corp. | 27,359 | $1,321,166 |
Avangrid, Inc. | 8,568 | 375,107 |
Eversource Energy | 25,583 | 2,000,846 |
NextEra Energy, Inc. | 10,510 | 2,528,916 |
Portland General Electric Co. | 13,590 | 651,505 |
Xcel Energy, Inc. | 38,189 | 2,302,797 |
$9,180,337 | ||
Electrical Equipment — 1.5% | ||
Acuity Brands, Inc. | 2,152 | $184,340 |
AMETEK, Inc. | 3,198 | 230,320 |
Eaton Corp. PLC | 30,238 | 2,349,190 |
Emerson Electric Co. | 41,577 | 1,981,144 |
GrafTech International, Ltd. | 6,904 | 56,060 |
Hubbell, Inc. | 5,197 | 596,304 |
nVent Electric PLC | 18,088 | 305,145 |
Regal Beloit Corp. | 5,409 | 340,497 |
Rockwell Automation, Inc. | 7,816 | 1,179,513 |
$7,222,513 | ||
Electronic Equipment, Instruments & Components — 0.6% | ||
Arrow Electronics, Inc.(2) | 6,146 | $318,793 |
Avnet, Inc. | 6,910 | 173,441 |
CDW Corp. | 2,323 | 216,666 |
Corning, Inc. | 32,214 | 661,676 |
Dolby Laboratories, Inc., Class A | 2,623 | 142,193 |
FLIR Systems, Inc. | 4,049 | 129,123 |
Jabil, Inc. | 11,140 | 273,821 |
Table of Contents
Security | Shares | Value |
Electronic Equipment, Instruments & Components (continued) | ||
National Instruments Corp. | 4,337 | $ 143,468 |
SYNNEX Corp. | 3,224 | 235,674 |
Tech Data Corp.(2) | 2,718 | 355,650 |
Zebra Technologies Corp., Class A(2) | 365 | 67,014 |
$ 2,717,519 | ||
Energy Equipment & Services — 0.2% | ||
Baker Hughes Co. | 36,850 | $ 386,925 |
National Oilwell Varco, Inc. | 59,047 | 580,432 |
$967,357 | ||
Entertainment — 1.5% | ||
Activision Blizzard, Inc. | 14,655 | $871,680 |
Cinemark Holdings, Inc. | 6,670 | 67,967 |
Lions Gate Entertainment Corp., Class A(2) | 10,080 | 61,286 |
Madison Square Garden Co. (The), Class A(2) | 168 | 35,517 |
Walt Disney Co. (The) | 63,722 | 6,155,545 |
$7,191,995 | ||
Food & Staples Retailing — 3.5% | ||
BJ's Wholesale Club Holdings, Inc.(2) | 10,421 | $265,423 |
Casey's General Stores, Inc. | 3,879 | 513,929 |
Costco Wholesale Corp. | 13,615 | 3,882,045 |
Kroger Co. (The) | 69,352 | 2,088,882 |
Performance Food Group Co.(2) | 12,990 | 321,113 |
Sysco Corp. | 28,641 | 1,306,889 |
US Foods Holding Corp.(2) | 24,109 | 426,970 |
Walmart, Inc. | 65,924 | 7,490,285 |
$16,295,536 | ||
Food Products — 3.2% | ||
Bunge, Ltd. | 15,415 | $632,477 |
Campbell Soup Co. | 9,663 | 446,044 |
Conagra Brands, Inc. | 53,397 | 1,566,668 |
Flowers Foods, Inc. | 17,962 | 368,580 |
General Mills, Inc. | 43,404 | 2,290,429 |
Hershey Co. (The) | 272 | 36,040 |
Hormel Foods Corp.(3) | 15,240 | 710,794 |
Ingredion, Inc. | 7,258 | 547,979 |
J&J Snack Foods Corp. | 229 | 27,709 |
JM Smucker Co. (The) | 8,818 | 978,798 |
Kellogg Co. | 25,250 | 1,514,748 |
Kraft Heinz Co. (The) | 65,681 | 1,624,948 |
Lancaster Colony Corp. | 302 | 43,681 |
McCormick & Co., Inc. | 1,612 | 227,631 |
Mondelez International, Inc., Class A | 65,356 | 3,273,028 |
Security | Shares | Value |
Food Products (continued) | ||
Post Holdings, Inc.(2) | 3,253 | $ 269,901 |
TreeHouse Foods, Inc.(2) | 4,784 | 211,214 |
$ 14,770,669 | ||
Gas Utilities — 0.5% | ||
New Jersey Resources Corp. | 6,262 | $ 212,720 |
ONE Gas, Inc. | 5,981 | 500,131 |
Southwest Gas Holdings, Inc. | 8,148 | 566,775 |
Spire, Inc. | 7,593 | 565,527 |
UGI Corp. | 23,376 | 623,438 |
$2,468,591 | ||
Health Care Equipment & Supplies — 1.3% | ||
Abbott Laboratories | 6,439 | $508,101 |
Baxter International, Inc. | 18,122 | 1,471,325 |
Danaher Corp. | 15,519 | 2,147,985 |
DENTSPLY SIRONA, Inc. | 11,329 | 439,905 |
Novocure, Ltd.(2) | 8,070 | 543,434 |
STERIS PLC | 1,716 | 240,188 |
Tandem Diabetes Care, Inc.(2) | 6,939 | 446,525 |
Varian Medical Systems, Inc.(2) | 2,116 | 217,229 |
$6,014,692 | ||
Health Care Providers & Services — 4.0% | ||
Anthem, Inc. | 14,251 | $3,235,547 |
Centene Corp.(2) | 39,677 | 2,357,210 |
Covetrus, Inc.(2)(3) | 8,057 | 65,584 |
CVS Health Corp. | 81,131 | 4,813,502 |
Encompass Health Corp. | 7,221 | 462,361 |
Ensign Group, Inc. (The) | 653 | 24,559 |
Guardant Health, Inc.(2) | 4,543 | 316,193 |
HCA Healthcare, Inc. | 15,354 | 1,379,557 |
Henry Schein, Inc.(2) | 11,690 | 590,579 |
Humana, Inc. | 8,187 | 2,570,882 |
Laboratory Corp. of America Holdings(2) | 6,680 | 844,285 |
LHC Group, Inc.(2) | 328 | 45,985 |
Molina Healthcare, Inc.(2) | 7,025 | 981,463 |
Quest Diagnostics, Inc. | 13,353 | 1,072,246 |
$18,759,953 | ||
Health Care Technology — 0.3% | ||
Teladoc Health, Inc.(2) | 8,776 | $1,360,368 |
$1,360,368 | ||
Hotels, Restaurants & Leisure — 0.7% | ||
Aramark | 27,072 | $540,628 |
Table of Contents
Security | Shares | Value |
Hotels, Restaurants & Leisure (continued) | ||
Cracker Barrel Old Country Store, Inc. | 1,697 | $ 141,224 |
Darden Restaurants, Inc. | 5,659 | 308,189 |
Extended Stay America, Inc. | 10,208 | 74,621 |
Hilton Worldwide Holdings, Inc. | 5,126 | 349,798 |
Hyatt Hotels Corp., Class A | 1,298 | 62,174 |
Marriott International, Inc., Class A | 7,385 | 552,472 |
Royal Caribbean Cruises, Ltd. | 12,708 | 408,816 |
Six Flags Entertainment Corp. | 5,129 | 64,318 |
Texas Roadhouse, Inc. | 2,372 | 97,964 |
Vail Resorts, Inc. | 943 | 139,291 |
Wendy's Co. (The) | 18,825 | 280,116 |
Wyndham Destinations, Inc. | 6,419 | 139,292 |
$3,158,903 | ||
Household Durables — 0.3% | ||
Helen of Troy, Ltd.(2) | 272 | $39,176 |
Leggett & Platt, Inc. | 10,402 | 277,525 |
Mohawk Industries, Inc.(2) | 4,621 | 352,305 |
Newell Brands, Inc. | 29,032 | 385,545 |
Tempur Sealy International, Inc.(2) | 510 | 22,292 |
Whirlpool Corp. | 3,541 | 303,818 |
$1,380,661 | ||
Household Products — 2.3% | ||
Church & Dwight Co., Inc. | 490 | $31,448 |
Clorox Co. (The) | 1,920 | 332,640 |
Colgate-Palmolive Co. | 4,010 | 266,104 |
Kimberly-Clark Corp. | 10,204 | 1,304,785 |
Procter & Gamble Co. (The) | 81,032 | 8,913,520 |
$10,848,497 | ||
Independent Power and Renewable Electricity Producers — 0.4% | ||
AES Corp. (The) | 82,295 | $1,119,212 |
Ormat Technologies, Inc. | 1,292 | 87,417 |
TerraForm Power, Inc., Class A | 34,241 | 539,980 |
$1,746,609 | ||
Industrial Conglomerates — 0.8% | ||
3M Co. | 22,278 | $3,041,170 |
Carlisle Cos., Inc. | 3,868 | 484,583 |
$3,525,753 | ||
Insurance — 6.1% | ||
Aflac, Inc. | 53,821 | $1,842,831 |
Alleghany Corp. | 924 | 510,371 |
Allstate Corp. (The) | 24,025 | 2,203,813 |
Security | Shares | Value |
Insurance (continued) | ||
American Financial Group, Inc. | 7,377 | $ 516,980 |
American International Group, Inc. | 64,685 | 1,568,611 |
American National Insurance Co. | 714 | 58,819 |
Arch Capital Group, Ltd.(2) | 34,396 | 978,910 |
Arthur J. Gallagher & Co. | 10,460 | 852,595 |
Assurant, Inc. | 5,680 | 591,231 |
Assured Guaranty, Ltd. | 8,042 | 207,403 |
Athene Holding, Ltd., Class A(2) | 11,900 | 295,358 |
Brown & Brown, Inc. | 7,227 | 261,762 |
Cincinnati Financial Corp. | 14,675 | 1,107,229 |
Enstar Group, Ltd.(2) | 1,554 | 247,164 |
Erie Indemnity Co., Class A | 602 | 89,241 |
Everest Re Group, Ltd. | 607 | 116,799 |
Fidelity National Financial, Inc. | 24,576 | 611,451 |
First American Financial Corp. | 10,629 | 450,776 |
Globe Life, Inc. | 9,987 | 718,764 |
Hanover Insurance Group, Inc. (The) | 3,848 | 348,552 |
Hartford Financial Services Group, Inc. (The) | 34,945 | 1,231,462 |
Kemper Corp. | 4,655 | 346,192 |
Lincoln National Corp. | 19,156 | 504,186 |
Marsh & McLennan Cos., Inc. | 8,684 | 750,819 |
Mercury General Corp. | 2,627 | 106,971 |
MetLife, Inc. | 59,637 | 1,823,103 |
Old Republic International Corp. | 27,912 | 425,658 |
Primerica, Inc. | 2,530 | 223,854 |
Principal Financial Group, Inc. | 25,932 | 812,709 |
Progressive Corp. (The) | 30,993 | 2,288,523 |
Prudential Financial, Inc. | 31,423 | 1,638,395 |
Reinsurance Group of America, Inc. | 5,934 | 499,287 |
RenaissanceRe Holdings, Ltd. | 3,017 | 450,498 |
RLI Corp. | 2,221 | 195,293 |
Selective Insurance Group, Inc. | 5,205 | 258,689 |
Travelers Cos., Inc. (The) | 19,926 | 1,979,648 |
Unum Group | 20,369 | 305,739 |
White Mountains Insurance Group, Ltd. | 314 | 285,740 |
Willis Towers Watson PLC | 4,850 | 823,773 |
$28,529,199 | ||
Interactive Media & Services — 0.1% | ||
Twitter, Inc.(2) | 13,738 | $337,405 |
$337,405 | ||
Internet & Direct Marketing Retail — 0.2% | ||
eBay, Inc. | 18,068 | $543,124 |
Qurate Retail, Inc., Class A(2) | 27,012 | 164,908 |
Table of Contents
Security | Shares | Value |
Internet & Direct Marketing Retail (continued) | ||
Wayfair, Inc., Class A(2)(3) | 447 | $ 23,888 |
$ 731,920 | ||
IT Services — 1.9% | ||
Alliance Data Systems Corp. | 3,802 | $ 127,937 |
Amdocs, Ltd. | 5,250 | 288,592 |
Automatic Data Processing, Inc. | 5,121 | 699,938 |
Booz Allen Hamilton Holding Corp., Class A | 2,883 | 197,889 |
Cognizant Technology Solutions Corp., Class A | 12,517 | 581,665 |
DXC Technology Co. | 20,541 | 268,060 |
Genpact, Ltd. | 971 | 28,353 |
GoDaddy, Inc., Class A(2) | 1,189 | 67,904 |
International Business Machines Corp. | 52,134 | 5,783,225 |
LiveRamp Holdings, Inc.(2) | 5,430 | 178,756 |
MAXIMUS, Inc. | 431 | 25,084 |
Paychex, Inc. | 4,493 | 282,700 |
Sabre Corp. | 14,226 | 84,360 |
Science Applications International Corp. | 3,420 | 255,235 |
$8,869,698 | ||
Leisure Products — 0.1% | ||
Brunswick Corp. | 3,641 | $128,782 |
Hasbro, Inc. | 5,029 | 359,825 |
Mattel, Inc.(2) | 14,383 | 126,714 |
$615,321 | ||
Life Sciences Tools & Services — 0.4% | ||
Agilent Technologies, Inc. | 17,330 | $1,241,175 |
Bio-Rad Laboratories, Inc., Class A(2) | 1,539 | 539,512 |
PerkinElmer, Inc. | 390 | 29,359 |
$1,810,046 | ||
Machinery — 4.6% | ||
AGCO Corp. | 8,228 | $388,773 |
Allison Transmission Holdings, Inc. | 4,286 | 139,766 |
Caterpillar, Inc. | 28,813 | 3,343,461 |
CNH Industrial NV | 126,345 | 708,795 |
Colfax Corp.(2) | 5,630 | 111,474 |
Crane Co. | 6,177 | 303,785 |
Cummins, Inc. | 13,096 | 1,772,151 |
Deere & Co. | 18,863 | 2,606,112 |
Donaldson Co., Inc. | 6,344 | 245,069 |
Dover Corp. | 9,107 | 764,442 |
Flowserve Corp. | 11,450 | 273,540 |
Fortive Corp. | 24,855 | 1,371,747 |
Gates Industrial Corp. PLC(2) | 3,618 | 26,701 |
Security | Shares | Value |
Machinery (continued) | ||
IDEX Corp. | 783 | $ 108,140 |
Illinois Tool Works, Inc. | 9,515 | 1,352,272 |
Ingersoll Rand, Inc.(2) | 1,499 | 37,175 |
ITT, Inc. | 8,598 | 390,005 |
Lincoln Electric Holdings, Inc. | 2,160 | 149,040 |
Navistar International Corp.(2) | 9,250 | 152,533 |
Nordson Corp. | 725 | 97,926 |
Oshkosh Corp. | 8,896 | 572,280 |
PACCAR, Inc. | 29,803 | 1,821,857 |
Parker-Hannifin Corp. | 9,716 | 1,260,457 |
Pentair PLC | 22,174 | 659,898 |
Snap-on, Inc. | 3,168 | 344,742 |
Stanley Black & Decker, Inc. | 5,921 | 592,100 |
Timken Co. (The) | 8,890 | 287,503 |
WABCO Holdings, Inc.(2) | 284 | 38,354 |
Watts Water Technologies, Inc., Class A | 2,056 | 174,040 |
Westinghouse Air Brake Technologies Corp. | 16,238 | 781,535 |
Woodward, Inc. | 788 | 46,839 |
Xylem, Inc. | 4,972 | 323,826 |
$21,246,338 | ||
Media — 2.1% | ||
AMC Networks, Inc., Class A(2) | 3,822 | $92,913 |
Comcast Corp., Class A | 192,425 | 6,615,571 |
Discovery, Inc., Class A(2) | 9,686 | 188,296 |
DISH Network Corp., Class A(2) | 19,100 | 381,809 |
Interpublic Group of Cos., Inc. (The) | 33,022 | 534,626 |
Liberty Latin America, Ltd., Class C(2) | 6,176 | 63,366 |
New York Times Co. (The), Class A | 2,446 | 75,117 |
Nexstar Media Group, Inc., Class A | 2,167 | 125,101 |
Omnicom Group, Inc. | 17,979 | 987,047 |
Sinclair Broadcast Group, Inc., Class A | 2,191 | 35,231 |
TEGNA, Inc. | 18,659 | 202,637 |
ViacomCBS, Inc., Class B | 49,840 | 698,258 |
$9,999,972 | ||
Metals & Mining — 0.6% | ||
Nucor Corp. | 35,867 | $1,291,929 |
Reliance Steel & Aluminum Co. | 9,745 | 853,565 |
Steel Dynamics, Inc. | 31,456 | 709,018 |
$2,854,512 | ||
Multiline Retail — 0.9% | ||
Dollar General Corp. | 3,575 | $539,861 |
Kohl's Corp. | 12,630 | 184,272 |
Macy's, Inc.(3) | 21,293 | 104,548 |
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Security | Shares | Value |
Multiline Retail (continued) | ||
Nordstrom, Inc.(3) | 8,597 | $ 131,878 |
Target Corp. | 33,824 | 3,144,617 |
$ 4,105,176 | ||
Multi-Utilities — 1.6% | ||
Ameren Corp. | 22,513 | $ 1,639,622 |
CenterPoint Energy, Inc. | 18,510 | 285,979 |
CMS Energy Corp. | 24,885 | 1,461,994 |
Consolidated Edison, Inc. | 27,546 | 2,148,588 |
Sempra Energy | 15,804 | 1,785,694 |
$7,321,877 | ||
Personal Products — 0.0%(1) | ||
Coty, Inc., Class A | 6,159 | $31,780 |
$31,780 | ||
Pharmaceuticals — 3.1% | ||
Bristol-Myers Squibb Co. | 56,642 | $3,157,225 |
Catalent, Inc.(2) | 1,873 | 97,302 |
Elanco Animal Health, Inc.(2) | 29,197 | 653,721 |
Jazz Pharmaceuticals PLC(2) | 277 | 27,628 |
Merck & Co., Inc. | 55,321 | 4,256,398 |
Perrigo Co. PLC | 4,673 | 224,724 |
Pfizer, Inc. | 187,331 | 6,114,484 |
$14,531,482 | ||
Professional Services — 0.2% | ||
CoreLogic, Inc. | 1,164 | $35,549 |
FTI Consulting, Inc.(2) | 1,781 | 213,310 |
ManpowerGroup, Inc. | 4,981 | 263,943 |
Nielsen Holdings PLC | 7,144 | 89,586 |
Robert Half International, Inc. | 3,504 | 132,276 |
$734,664 | ||
Real Estate Management & Development — 0.3% | ||
CBRE Group, Inc., Class A(2) | 21,108 | $795,983 |
Jones Lang LaSalle, Inc. | 7,949 | 802,690 |
$1,598,673 | ||
Road & Rail — 1.0% | ||
AMERCO | 626 | $181,884 |
J.B. Hunt Transport Services, Inc. | 2,220 | 204,751 |
Kansas City Southern | 4,396 | 559,083 |
Knight-Swift Transportation Holdings, Inc. | 11,722 | 384,482 |
Landstar System, Inc. | 355 | 34,030 |
Norfolk Southern Corp. | 10,102 | 1,474,892 |
Security | Shares | Value |
Road & Rail (continued) | ||
Schneider National, Inc., Class B | 4,691 | $ 90,724 |
Union Pacific Corp. | 13,082 | 1,845,085 |
$ 4,774,931 | ||
Semiconductors & Semiconductor Equipment — 3.5% | ||
Analog Devices, Inc. | 5,478 | $ 491,103 |
Applied Materials, Inc. | 1,715 | 78,581 |
Cree, Inc.(2) | 6,352 | 225,242 |
Cypress Semiconductor Corp. | 23,844 | 556,042 |
First Solar, Inc.(2) | 5,690 | 205,181 |
Intel Corp. | 195,438 | 10,577,105 |
KLA Corp. | 4,689 | 673,997 |
Lam Research Corp. | 537 | 128,880 |
Marvell Technology Group, Ltd. | 23,592 | 533,887 |
Maxim Integrated Products, Inc. | 9,178 | 446,143 |
Micron Technology, Inc.(2) | 35,599 | 1,497,294 |
ON Semiconductor Corp.(2) | 11,934 | 148,459 |
Skyworks Solutions, Inc. | 7,164 | 640,318 |
Teradyne, Inc. | 1,735 | 93,985 |
$16,296,217 | ||
Software — 1.6% | ||
Anaplan, Inc.(2) | 7,044 | $213,151 |
Autodesk, Inc.(2) | 4,146 | 647,191 |
Avalara, Inc.(2) | 5,752 | 429,099 |
Ceridian HCM Holding, Inc.(2) | 709 | 35,500 |
Cornerstone OnDemand, Inc.(2) | 647 | 20,542 |
DocuSign, Inc.(2) | 12,407 | 1,146,407 |
Dropbox, Inc., Class A(2) | 17,961 | 325,094 |
Elastic NV(2) | 2,215 | 123,619 |
FireEye, Inc.(2) | 5,094 | 53,895 |
Nuance Communications, Inc.(2) | 12,185 | 204,464 |
Oracle Corp. | 68,302 | 3,301,036 |
Pluralsight, Inc., Class A(2)(3) | 5,488 | 60,258 |
Q2 Holdings, Inc.(2)(3) | 479 | 28,290 |
Smartsheet, Inc., Class A(2) | 8,440 | 350,344 |
Zendesk, Inc.(2) | 404 | 25,860 |
Zscaler, Inc.(2)(3) | 5,582 | 339,721 |
$7,304,471 | ||
Specialty Retail — 0.9% | ||
Aaron's, Inc. | 2,914 | $66,381 |
Advance Auto Parts, Inc. | 3,025 | 282,293 |
American Eagle Outfitters, Inc. | 10,694 | 85,017 |
AutoNation, Inc.(2) | 4,548 | 127,617 |
Best Buy Co., Inc. | 17,628 | 1,004,796 |
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Security | Shares | Value |
Specialty Retail (continued) | ||
CarMax, Inc.(2) | 9,509 | $ 511,869 |
Dick's Sporting Goods, Inc. | 4,173 | 88,718 |
Foot Locker, Inc. | 7,334 | 161,715 |
Gap, Inc. (The) | 18,352 | 129,198 |
L Brands, Inc.(3) | 16,153 | 186,729 |
Lowe's Cos., Inc. | 6,562 | 564,660 |
Penske Automotive Group, Inc. | 1,996 | 55,888 |
Tiffany & Co. | 5,844 | 756,798 |
Williams-Sonoma, Inc. | 5,030 | 213,876 |
$4,235,555 | ||
Technology Hardware, Storage & Peripherals — 3.4% | ||
Apple, Inc. | 45,775 | $11,640,125 |
Dell Technologies, Class C(2) | 7,033 | 278,155 |
HP, Inc. | 111,122 | 1,929,078 |
NetApp, Inc. | 10,560 | 440,246 |
Pure Storage, Inc., Class A(2) | 4,149 | 51,033 |
Seagate Technology PLC | 20,652 | 1,007,818 |
Xerox Holdings Corp. | 16,133 | 305,559 |
$15,652,014 | ||
Textiles, Apparel & Luxury Goods — 0.5% | ||
Capri Holdings, Ltd.(2) | 11,558 | $124,711 |
Carter's, Inc. | 1,955 | 128,502 |
Columbia Sportswear Co. | 773 | 53,932 |
Hanesbrands, Inc.(3) | 25,438 | 200,197 |
NIKE, Inc., Class B | 4,591 | 379,859 |
PVH Corp. | 5,890 | 221,699 |
Ralph Lauren Corp., Class A | 3,206 | 214,257 |
Skechers U.S.A., Inc., Class A(2) | 5,724 | 135,888 |
Tapestry, Inc. | 21,386 | 276,949 |
VF Corp. | 8,960 | 484,557 |
$2,220,551 | ||
Thrifts & Mortgage Finance — 0.2% | ||
Essent Group, Ltd. | 1,063 | $28,000 |
MGIC Investment Corp. | 34,312 | 217,881 |
New York Community Bancorp, Inc. | 43,988 | 413,047 |
Radian Group, Inc. | 19,518 | 252,758 |
TFS Financial Corp. | 3,631 | 55,445 |
$967,131 | ||
Trading Companies & Distributors — 0.5% | ||
Air Lease Corp. | 14,489 | $320,787 |
HD Supply Holdings, Inc.(2) | 12,212 | 347,187 |
MSC Industrial Direct Co., Inc., Class A | 4,583 | 251,928 |
Security | Shares | Value |
Trading Companies & Distributors (continued) | ||
United Rentals, Inc.(2) | 8,576 | $ 882,470 |
W.W. Grainger, Inc. | 1,294 | 321,559 |
$ 2,123,931 | ||
Transportation Infrastructure — 0.0%(1) | ||
Macquarie Infrastructure Corp. | 5,854 | $ 147,814 |
$ 147,814 | ||
Water Utilities — 0.4% | ||
American Water Works Co., Inc. | 11,156 | $ 1,333,811 |
Essential Utilities, Inc. | 13,274 | 540,252 |
$1,874,063 | ||
Wireless Telecommunication Services — 0.3% | ||
Sprint Corp.(2) | 21,063 | $181,563 |
Telephone & Data Systems, Inc. | 7,087 | 118,778 |
T-Mobile US, Inc.(2) | 12,344 | 1,035,662 |
United States Cellular Corp.(2) | 759 | 22,231 |
$1,358,234 | ||
Total Common Stocks (identified cost $543,901,314) | $461,953,620 |
Short-Term Investments — 0.0%(1) |
Security | Shares | Value |
State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(4) | 135,385 | $ 135,385 |
Total Short-Term Investments (identified cost $135,385) | $ 135,385 | |
Total Investments — 99.3% (identified cost $544,036,699) | $462,089,005 | |
Other Assets, Less Liabilities — 0.7% | $ 3,187,536 | |
Net Assets — 100.0% | $465,276,541 |
The percentage shown for each investment category in the Schedule of Investments is based on net assets. | ||
(1) | Amount is less than 0.05%. | |
(2) | Non-income producing security. | |
(3) | All or a portion of this security was on loan at March 31, 2020. The aggregate market value of securities on loan at March 31, 2020 was $2,333,250. | |
(4) | Represents investment of cash collateral received in connection with securities lending. |
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March 31, 2020 | |
Assets | |
Investments in securities of unaffiliated issuers, at value (identified cost $544,036,699) - including $2,333,250 of securities on loan | $462,089,005 |
Cash | 1,622,477 |
Receivable for capital shares sold | 4,361,666 |
Dividends receivable | 725,383 |
Securities lending income receivable | 580 |
Receivable from affiliate | 77,063 |
Directors' deferred compensation plan | 164,667 |
Total assets | $469,040,841 |
Liabilities | |
Payable for investments purchased | $2,600,517 |
Payable for capital shares redeemed | 569,808 |
Deposits for securities loaned | 135,385 |
Payable to affiliates: | |
Investment advisory fee | 46,626 |
Administrative fee | 46,626 |
Distribution and service fees | 9,804 |
Sub-transfer agency fee | 1,385 |
Directors' deferred compensation plan | 164,667 |
Accrued expenses | 189,482 |
Total liabilities | $3,764,300 |
Net Assets | $465,276,541 |
Sources of Net Assets | |
Paid-in capital | $551,362,319 |
Accumulated loss | (86,085,778) |
Total | $465,276,541 |
Class A Shares | |
Net Assets | $44,724,978 |
Shares Outstanding | 2,433,762 |
Net Asset Value and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $18.38 |
Maximum Offering Price Per Share (100 ÷ 95.25 of net asset value per share) | $19.30 |
Class I Shares | |
Net Assets | $420,551,563 |
Shares Outstanding | 22,757,769 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $18.48 |
On sales of $50,000 or more, the offering price of Class A shares is reduced. |
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Six Months Ended | |
March 31, 2020 | |
Investment Income | |
Dividend income (net of foreign taxes withheld of $649) | $6,246,236 |
Interest income | 6,512 |
Securities lending income, net | 8,159 |
Total investment income | $6,260,907 |
Expenses | |
Investment advisory fee | $293,570 |
Administrative fee | 293,570 |
Distribution and service fees: | |
Class A | 67,923 |
Directors' fees and expenses | 13,418 |
Custodian fees | 4,788 |
Transfer agency fees and expenses | 189,269 |
Accounting fees | 65,437 |
Professional fees | 26,187 |
Registration fees | 30,291 |
Reports to shareholders | 18,376 |
Miscellaneous | 19,076 |
Total expenses | $1,021,905 |
Waiver and/or reimbursement of expenses by affiliate | $(359,837) |
Reimbursement of expenses - other | (7,006) |
Net expenses | $655,062 |
Net investment income | $5,605,845 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment securities | $(2,175,593) |
Net realized loss | $(2,175,593) |
Change in unrealized appreciation (depreciation): | |
Investment securities | $(111,555,664) |
Net change in unrealized appreciation (depreciation) | $(111,555,664) |
Net realized and unrealized loss | $(113,731,257) |
Net decrease in net assets from operations | $(108,125,412) |
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Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $5,605,845 | $7,374,093 |
Net realized gain (loss) | (2,175,593) | 328,259 |
Net change in unrealized appreciation (depreciation) | (111,555,664) | 7,984,314 |
Net increase (decrease) in net assets from operations | $(108,125,412) | $15,686,666 |
Distributions to shareholders: | ||
Class A | $(1,099,890) | $(1,701,251) |
Class I | (9,535,771) | (10,772,221) |
Total distributions to shareholders | $(10,635,661) | $(12,473,472) |
Capital share transactions: | ||
Class A | $3,952,677 | $8,682,178 |
Class I | 158,204,000 | 111,130,215 |
Net increase in net assets from capital share transactions | $162,156,677 | $119,812,393 |
Net increase in net assets | $43,395,604 | $123,025,587 |
Net Assets | ||
At beginning of period | $421,880,937 | $298,855,350 |
At end of period | $465,276,541 | $421,880,937 |
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Class A | ||||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | Period Ended September 30, 2015(1) | ||||
2019 | 2018 | 2017 | 2016 | |||
Net asset value — Beginning of period | $23.38 | $23.60 | $23.02 | $20.10 | $17.85 | $20.00 |
Income (Loss) From Operations | ||||||
Net investment income(2) | $0.24 | $0.43 | $0.41 | $0.46 | $0.38 | $0.09 |
Net realized and unrealized gain (loss) | (4.75) | 0.25 | 1.68 | 2.87 | 1.98 | (2.24) |
Total income (loss) from operations | $(4.51) | $0.68 | $2.09 | $3.33 | $2.36 | $(2.15) |
Less Distributions | ||||||
From net investment income | $(0.34) | $(0.34) | $(0.35) | $(0.35) | $(0.11) | $— |
From net realized gain | (0.15) | (0.56) | (1.16) | (0.06) | —(3) | — |
Total distributions | $(0.49) | $(0.90) | $(1.51) | $(0.41) | $(0.11) | $— |
Net asset value — End of period | $18.38 | $23.38 | $23.60 | $23.02 | $20.10 | $17.85 |
Total Return(4) | (19.81)%(5) | 3.18% | 9.30% | 16.72% | 13.24% | (10.75)%(5) |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $44,725 | $52,888 | $44,047 | $33,233 | $22,309 | $3,547 |
Ratios (as a percentage of average daily net assets):(6) | ||||||
Total expenses | 0.64%(7) | 0.68% | 0.71% | 0.84% | 0.85% | 7.30%(7) |
Net expenses | 0.49%(7) | 0.51% | 0.57% | 0.57% | 0.57% | 0.57%(7) |
Net investment income | 2.06%(7) | 1.95% | 1.80% | 2.09% | 2.04% | 1.79%(7) |
Portfolio Turnover | 4%(5) | 39% | 67% | 73% | 53% | 3%(5) |
(1) | From June 19, 2015 inception. |
(2) | Computed using average shares outstanding. |
(3) | Amount is less than $0.005. |
(4) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(5) | Not annualized. |
(6) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(7) | Annualized. |
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Class I | ||||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | Period Ended September 30, 2015(1) | ||||
2019 | 2018 | 2017 | 2016 | |||
Net asset value — Beginning of period | $23.53 | $23.74 | $23.12 | $20.18 | $17.87 | $20.00 |
Income (Loss) From Operations | ||||||
Net investment income(2) | $0.27 | $0.50 | $0.50 | $0.53 | $0.45 | $0.11 |
Net realized and unrealized gain (loss) | (4.78) | 0.25 | 1.67 | 2.89 | 1.97 | (2.24) |
Total income (loss) from operations | $(4.51) | $0.75 | $2.17 | $3.42 | $2.42 | $(2.13) |
Less Distributions | ||||||
From net investment income | $(0.39) | $(0.40) | $(0.39) | $(0.42) | $(0.11) | $— |
From net realized gain | (0.15) | (0.56) | (1.16) | (0.06) | —(3) | — |
Total distributions | $(0.54) | $(0.96) | $(1.55) | $(0.48) | $(0.11) | $— |
Net asset value — End of period | $18.48 | $23.53 | $23.74 | $23.12 | $20.18 | $17.87 |
Total Return(4) | (19.71)%(5) | 3.46% | 9.67% | 17.15% | 13.60% | (10.65)%(5) |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $420,552 | $368,993 | $254,809 | $85,240 | $67,315 | $2,144 |
Ratios (as a percentage of average daily net assets):(6) | ||||||
Total expenses | 0.39%(7) | 0.43% | 0.47% | 0.46% | 0.47% | 6.88%(7) |
Net expenses | 0.24%(7) | 0.23% | 0.22% | 0.22% | 0.22% | 0.22%(7) |
Net investment income | 2.32%(7) | 2.22% | 2.15% | 2.43% | 2.38% | 2.09%(7) |
Portfolio Turnover | 4%(5) | 39% | 67% | 73% | 53% | 3%(5) |
(1) | From June 19, 2015 inception. |
(2) | Computed using average shares outstanding. |
(3) | Amount is less than $0.005. |
(4) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(5) | Not annualized. |
(6) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(7) | Annualized. |
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Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $461,953,620(1) | $ — | $— | $461,953,620 |
Short-Term Investments | 135,385 | — | — | 135,385 |
Total Investments | $462,089,005 | $ — | $ — | $462,089,005 |
(1) | The level classification by major category of investments is the same as the category presentation in the Schedule of Investments. |
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Aggregate cost | $549,129,115 |
Gross unrealized appreciation | $11,434,587 |
Gross unrealized depreciation | (98,474,697) |
Net unrealized depreciation | $(87,040,110) |
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Remaining Contractual Maturity of the Transactions | |||||
Overnight and Continuous | <30 days | 30 to 90 days | >90 days | Total | |
Securities Lending Transactions | |||||
Common Stocks | $135,385 | $ — | $ — | $ — | $135,385 |
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Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | ||||
Shares | Amount | Shares | Amount | ||
Class A | |||||
Shares sold | 497,519 | $11,427,689 | 796,134 | $17,569,473 | |
Reinvestment of distributions | 37,527 | 904,779 | 66,830 | 1,457,552 | |
Shares redeemed | (363,401) | (8,379,791) | (467,328) | (10,344,847) | |
Net increase | 171,645 | $3,952,677 | 395,636 | $8,682,178 | |
Class I | |||||
Shares sold | 8,104,771 | $179,804,367 | 6,880,840 | $152,786,529 | |
Reinvestment of distributions | 283,192 | 6,858,915 | 342,232 | 7,498,299 | |
Shares redeemed | (1,309,508) | (28,459,282) | (2,276,786) | (49,154,613) | |
Net increase | 7,078,455 | $158,204,000 | 4,946,286 | $111,130,215 |
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Officers |
Hope L. Brown Chief Compliance Officer |
Maureen A. Gemma Vice President, Secretary and Chief Legal Officer |
James F. Kirchner Treasurer |
Directors |
Alice Gresham Bullock Chairperson |
Richard L. Baird, Jr. |
Cari M. Dominguez |
John G. Guffey, Jr. |
Miles D. Harper, III |
Joy V. Jones |
John H. Streur* |
Anthony A. Williams |
*Interested Director and President |
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• | At the time of opening an account, Eaton Vance generally requires you to provide us with certain information such as name, address, social security number, tax status, account numbers, and account balances. This information is necessary for us to both open an account for you and to allow us to satisfy legal requirements such as applicable anti-money laundering reviews and know-your-customer requirements. |
• | On an ongoing basis, in the normal course of servicing your account, Eaton Vance may share your information with unaffiliated third parties that perform various services for Eaton Vance and/or your account. These third parties include transfer agents, custodians, broker/dealers and our professional advisers, including auditors, accountants, and legal counsel. Eaton Vance may additionally share your personal information with our affiliates. |
• | We believe our Privacy Program is reasonably designed to protect the confidentiality of your personal information and to prevent unauthorized access to that information. |
• | We reserve the right to change our Privacy Program at any time upon proper notification to you. You may want to review our Privacy Program periodically for changes by accessing the link on our homepage: www.eatonvance.com. |
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% Average Annual Total Returns1,2 | Class Inception Date | Performance Inception Date | Six Months | One Year | Five Years | Since Inception |
Class A at NAV | 10/30/2015 | 10/30/2015 | (18.86)% | (15.75)% | —% | 3.66% |
Class A with 4.75% Maximum Sales Charge | — | — | (22.72) | (19.76) | — | 2.52 |
Class I at NAV | 10/30/2015 | 10/30/2015 | (18.76) | (15.54) | — | 3.98 |
·· | ||||||
Russell Midcap® Index | — | — | (21.92)% | (18.31)% | 1.85% | 2.99% |
Calvert US Mid-Cap Core Responsible Index | — | — | (19.02) | (15.75) | — | 4.24 |
% Total Annual Operating Expense Ratios3 | Class A | Class I |
Gross | 0.91% | 0.65% |
Net | 0.50 | 0.25 |
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Top 10 Holdings (% of net assets)* | |
Centene Corp. | 0.8% |
Lam Research Corp. | 0.7 |
Eversource Energy | 0.6 |
DexCom, Inc. | 0.5 |
Kroger Co. (The) | 0.5 |
MSCI, Inc. | 0.5 |
IHS Markit, Ltd. | 0.5 |
KLA Corp. | 0.5 |
Verisk Analytics, Inc. | 0.5 |
Agilent Technologies, Inc. | 0.5 |
Total | 5.6% |
* | Excludes cash and cash equivalents. |
Table of Contents
1 | Russell Midcap® Index is an unmanaged index of U.S. mid-cap stocks. Calvert US Mid-Cap Core Responsible Index (the “Calvert Index”) is composed of common stocks of mid-sized companies that operate their businesses in a manner that is consistent with the Calvert Principles for Responsible Investment. Mid-size companies are the 1,000 largest publicly traded U.S. companies based on market capitalization, excluding real estate investment trusts, business development companies and approximately the 200 largest publicly traded U.S. companies. The Calvert Principles of Responsible Investment serve as a framework for considering environmental, social and governance factors that may affect investment performance. Stocks are weighted in the Calvert Index based on their float-adjusted market capitalization within the relevant sector, subject to certain prescribed limits. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 | Total Returns at NAV do not include applicable sales charges. If sales charges were deducted, the returns would be lower. Total Returns shown with maximum sales charge reflect the stated maximum sales charge. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable.Calvert Research and Management became the investment adviser to the Fund on December 31, 2016. Performance reflected prior to such date is that of the Fund’s former investment adviser. |
3 | Source: Fund prospectus. Net expense ratios reflect a contractual expense reimbursement that continues through 1/31/21. Without the reimbursement, performance would have been lower. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report. |
Table of Contents
Beginning Account Value (10/1/19) | Ending Account Value (3/31/20) | Expenses Paid During Period* (10/1/19 – 3/31/20) | Annualized Expense Ratio | |
Actual | ||||
Class A | $1,000.00 | $811.40 | $2.22** | 0.49% |
Class I | $1,000.00 | $812.40 | $1.09** | 0.24% |
Hypothetical | ||||
(5% return per year before expenses) | ||||
Class A | $1,000.00 | $1,022.55 | $2.48** | 0.49% |
Class I | $1,000.00 | $1,023.80 | $1.21** | 0.24% |
* | Expenses are equal to the Fund's annualized expense ratio for the indicated Class, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). The Example assumes that the $1,000 was invested at the net asset value per share determined at the close of business on September 30, 2019. |
** | Absent a waiver and/or reimbursement of expenses by an affiliate, expenses would be higher. |
Table of Contents
Common Stocks — 99.1% |
Security | Shares | Value |
Aerospace & Defense — 0.4% | ||
Axon Enterprise, Inc.(1) | 978 | $ 69,213 |
HEICO Corp. | 652 | 48,646 |
Hexcel Corp. | 1,370 | 50,950 |
Mercury Systems, Inc.(1) | 799 | 57,000 |
Moog, Inc., Class A | 439 | 22,183 |
$ 247,992 | ||
Air Freight & Logistics — 0.5% | ||
C.H. Robinson Worldwide, Inc. | 1,891 | $ 125,184 |
Expeditors International of Washington, Inc. | 2,427 | 161,930 |
$287,114 | ||
Airlines — 0.9% | ||
Alaska Air Group, Inc. | 1,665 | $47,403 |
American Airlines Group, Inc. | 6,141 | 74,859 |
JetBlue Airways Corp.(1) | 3,994 | 35,746 |
SkyWest, Inc. | 659 | 17,259 |
Southwest Airlines Co. | 6,981 | 248,594 |
Spirit Airlines, Inc.(1) | 927 | 11,949 |
United Airlines Holdings, Inc.(1) | 3,577 | 112,854 |
$548,664 | ||
Auto Components — 0.8% | ||
Aptiv PLC | 3,611 | $177,806 |
Autoliv, Inc. | 1,265 | 58,203 |
BorgWarner, Inc. | 2,780 | 67,749 |
Gentex Corp. | 3,534 | 78,313 |
Lear Corp. | 885 | 71,906 |
$453,977 | ||
Automobiles — 0.1% | ||
Harley-Davidson, Inc.(2) | 2,191 | $41,476 |
Thor Industries, Inc. | 717 | 30,243 |
$71,719 | ||
Banks — 4.2% | ||
Associated Banc-Corp. | 2,237 | $28,611 |
BancorpSouth Bank | 1,314 | 24,861 |
Bank of Hawaii Corp. | 491 | 27,123 |
Bank OZK | 1,489 | 24,866 |
BankUnited, Inc. | 1,277 | 23,880 |
BOK Financial Corp. | 379 | 16,130 |
CenterState Bank Corp. | 1,700 | 29,291 |
CIT Group, Inc. | 1,458 | 25,165 |
Security | Shares | Value |
Banks (continued) | ||
Citizens Financial Group, Inc. | 5,818 | $ 109,437 |
Comerica, Inc. | 1,827 | 53,604 |
Commerce Bancshares, Inc. | 1,430 | 72,001 |
Community Bank System, Inc. | 731 | 42,983 |
Cullen/Frost Bankers, Inc. | 785 | 43,795 |
CVB Financial Corp. | 1,866 | 37,413 |
East West Bancorp, Inc. | 1,902 | 48,957 |
F.N.B. Corp. | 4,131 | 30,445 |
Fifth Third Bancorp | 9,536 | 141,610 |
First Citizens BancShares, Inc., Class A | 77 | 25,631 |
First Financial Bankshares, Inc. | 1,831 | 49,144 |
First Hawaiian, Inc. | 1,824 | 30,151 |
First Horizon National Corp. | 3,862 | 31,128 |
First Republic Bank | 2,248 | 184,965 |
Glacier Bancorp, Inc. | 1,313 | 44,649 |
Hancock Whitney Corp. | 1,249 | 24,380 |
Home BancShares, Inc. | 2,114 | 25,347 |
Huntington Bancshares, Inc. | 13,584 | 111,525 |
IBERIABANK Corp. | 762 | 27,554 |
Investors Bancorp, Inc. | 3,366 | 26,894 |
KeyCorp | 12,655 | 131,232 |
M&T Bank Corp. | 1,739 | 179,865 |
Old National Bancorp | 2,059 | 27,158 |
PacWest Bancorp | 1,424 | 25,518 |
People's United Financial, Inc. | 5,532 | 61,129 |
Pinnacle Financial Partners, Inc. | 929 | 34,875 |
Popular, Inc. | 1,187 | 41,545 |
Prosperity Bancshares, Inc. | 1,212 | 58,479 |
Regions Financial Corp. | 12,637 | 113,354 |
Signature Bank | 755 | 60,694 |
Sterling Bancorp | 2,540 | 26,543 |
SVB Financial Group(1) | 677 | 102,281 |
Synovus Financial Corp. | 1,864 | 32,732 |
Texas Capital Bancshares, Inc.(1) | 619 | 13,723 |
UMB Financial Corp. | 523 | 24,257 |
Umpqua Holdings Corp. | 3,100 | 33,790 |
United Bankshares, Inc. | 1,212 | 27,973 |
Valley National Bancorp | 5,302 | 38,758 |
Webster Financial Corp. | 1,111 | 25,442 |
Western Alliance Bancorp | 1,356 | 41,507 |
Wintrust Financial Corp. | 694 | 22,805 |
Zions Bancorp NA | 2,259 | 60,451 |
$2,545,651 |
Table of Contents
Security | Shares | Value |
Beverages — 0.0%(3) | ||
Coca-Cola Consolidated, Inc. | 74 | $ 15,431 |
$ 15,431 | ||
Biotechnology — 3.3% | ||
ACADIA Pharmaceuticals, Inc.(1)(2) | 1,658 | $ 70,050 |
Alexion Pharmaceuticals, Inc.(1) | 3,063 | 275,027 |
Alkermes PLC(1) | 2,031 | 29,287 |
Allogene Therapeutics, Inc.(1)(2) | 819 | 15,921 |
Alnylam Pharmaceuticals, Inc.(1)(2) | 1,575 | 171,439 |
Amicus Therapeutics, Inc.(1) | 3,686 | 34,059 |
BioMarin Pharmaceutical, Inc.(1) | 2,537 | 214,376 |
Bluebird Bio, Inc.(1) | 748 | 34,378 |
Blueprint Medicines Corp.(1) | 724 | 42,339 |
Exact Sciences Corp.(1)(2) | 2,127 | 123,366 |
Exelixis, Inc.(1) | 4,363 | 75,131 |
FibroGen, Inc.(1) | 1,229 | 42,708 |
Global Blood Therapeutics, Inc.(1) | 908 | 46,390 |
Incyte Corp.(1) | 2,557 | 187,249 |
Ionis Pharmaceuticals, Inc.(1) | 1,935 | 91,487 |
Neurocrine Biosciences, Inc.(1) | 1,340 | 115,977 |
Sage Therapeutics, Inc.(1) | 662 | 19,013 |
Sarepta Therapeutics, Inc.(1) | 1,075 | 105,156 |
Seattle Genetics, Inc.(1) | 1,653 | 190,723 |
Ultragenyx Pharmaceutical, Inc.(1) | 728 | 32,345 |
United Therapeutics Corp.(1) | 585 | 55,473 |
$1,971,894 | ||
Building Products — 0.9% | ||
Allegion PLC | 1,532 | $140,975 |
Armstrong World Industries, Inc. | 638 | 50,670 |
Fortune Brands Home & Security, Inc. | 1,872 | 80,964 |
Masco Corp. | 3,740 | 129,292 |
Owens Corning | 2,234 | 86,701 |
Trex Co., Inc.(1) | 794 | 63,631 |
$552,233 | ||
Capital Markets — 4.6% | ||
Affiliated Managers Group, Inc. | 656 | $38,796 |
Ameriprise Financial, Inc. | 1,661 | 170,219 |
Ares Management Corp., Class A | 1,131 | 34,982 |
Cboe Global Markets, Inc. | 1,480 | 132,090 |
E*Trade Financial Corp. | 2,875 | 98,670 |
Evercore, Inc., Class A | 469 | 21,602 |
FactSet Research Systems, Inc. | 561 | 146,241 |
Franklin Resources, Inc. | 3,613 | 60,301 |
Houlihan Lokey, Inc., Class A | 520 | 27,102 |
Security | Shares | Value |
Capital Markets (continued) | ||
Interactive Brokers Group, Inc., Class A | 894 | $ 38,594 |
Invesco, Ltd. | 4,823 | 43,793 |
KKR & Co., Inc., Class A | 7,131 | 167,364 |
Lazard, Ltd., Class A | 1,229 | 28,955 |
Legg Mason, Inc. | 1,155 | 56,422 |
LPL Financial Holdings, Inc. | 1,077 | 58,621 |
MarketAxess Holdings, Inc. | 496 | 164,955 |
Morningstar, Inc. | 299 | 34,759 |
MSCI, Inc. | 1,109 | 320,457 |
Nasdaq, Inc. | 1,564 | 148,502 |
Northern Trust Corp. | 2,726 | 205,704 |
Raymond James Financial, Inc. | 1,627 | 102,826 |
SEI Investments Co. | 1,650 | 76,461 |
State Street Corp. | 4,689 | 249,783 |
Stifel Financial Corp. | 967 | 39,918 |
T. Rowe Price Group, Inc. | 3,029 | 295,782 |
Virtu Financial, Inc., Class A | 1,107 | 23,048 |
$2,785,947 | ||
Chemicals — 1.8% | ||
Ashland Global Holdings, Inc. | 1,034 | $51,772 |
Axalta Coating Systems, Ltd.(1) | 3,278 | 56,611 |
Celanese Corp. | 1,953 | 143,331 |
Eastman Chemical Co. | 2,202 | 102,569 |
FMC Corp. | 2,080 | 169,915 |
Ingevity Corp.(1) | 589 | 20,733 |
International Flavors & Fragrances, Inc. | 1,695 | 173,026 |
Mosaic Co. (The) | 5,301 | 57,357 |
PPG Industries, Inc. | 3,174 | 265,346 |
Sensient Technologies Corp. | 734 | 31,936 |
WR Grace & Co. | 870 | 30,972 |
$1,103,568 | ||
Commercial Services & Supplies — 1.1% | ||
ADT, Inc. | 2,346 | $10,135 |
Cintas Corp. | 1,155 | 200,069 |
Copart, Inc.(1) | 2,685 | 183,976 |
IAA, Inc.(1) | 2,043 | 61,208 |
KAR Auction Services, Inc. | 1,828 | 21,936 |
MSA Safety, Inc. | 580 | 58,696 |
Tetra Tech, Inc. | 1,291 | 91,170 |
UniFirst Corp. | 183 | 27,650 |
$654,840 | ||
Communications Equipment — 1.5% | ||
Arista Networks, Inc.(1) | 789 | $159,812 |
Table of Contents
Security | Shares | Value |
Communications Equipment (continued) | ||
Ciena Corp.(1) | 2,203 | $ 87,702 |
CommScope Holding Co., Inc.(1) | 2,792 | 25,435 |
EchoStar Corp., Class A(1) | 700 | 22,379 |
F5 Networks, Inc.(1) | 854 | 91,062 |
Juniper Networks, Inc. | 4,782 | 91,528 |
Lumentum Holdings, Inc.(1) | 1,022 | 75,321 |
Motorola Solutions, Inc. | 2,254 | 299,602 |
ViaSat, Inc.(1) | 845 | 30,352 |
Viavi Solutions, Inc.(1) | 3,167 | 35,502 |
$918,695 | ||
Construction & Engineering — 0.4% | ||
EMCOR Group, Inc. | 1,390 | $85,235 |
MasTec, Inc.(1) | 1,798 | 58,848 |
Quanta Services, Inc. | 2,930 | 92,969 |
$237,052 | ||
Consumer Finance — 0.9% | ||
Ally Financial, Inc. | 5,082 | $73,333 |
Credit Acceptance Corp.(1) | 188 | 48,070 |
Discover Financial Services | 4,056 | 144,677 |
FirstCash, Inc. | 540 | 38,740 |
LendingTree, Inc.(1) | 103 | 18,889 |
OneMain Holdings, Inc. | 1,155 | 22,084 |
SLM Corp.(2) | 5,331 | 38,330 |
Synchrony Financial | 8,217 | 132,211 |
$516,334 | ||
Containers & Packaging — 1.8% | ||
AptarGroup, Inc. | 1,027 | $102,228 |
Ardagh Group S.A. | 274 | 3,250 |
Avery Dennison Corp. | 1,362 | 138,747 |
Ball Corp. | 4,421 | 285,862 |
Berry Global Group, Inc.(1) | 2,206 | 74,364 |
Crown Holdings, Inc.(1) | 2,169 | 125,889 |
Packaging Corp. of America | 1,533 | 133,110 |
Silgan Holdings, Inc. | 1,182 | 34,302 |
Sonoco Products Co. | 1,573 | 72,908 |
WestRock Co. | 4,102 | 115,922 |
$1,086,582 | ||
Distributors — 0.5% | ||
Genuine Parts Co. | 1,871 | $125,974 |
LKQ Corp.(1) | 3,978 | 81,589 |
Pool Corp. | 501 | 98,582 |
$306,145 |
Security | Shares | Value |
Diversified Consumer Services — 0.9% | ||
Bright Horizons Family Solutions, Inc.(1) | 835 | $ 85,170 |
Chegg, Inc.(1) | 1,801 | 64,440 |
frontdoor, Inc.(1) | 1,237 | 43,023 |
Graham Holdings Co., Class B | 61 | 20,811 |
Grand Canyon Education, Inc.(1) | 714 | 54,468 |
H&R Block, Inc.(2) | 2,916 | 41,057 |
Laureate Education, Inc., Class A(1) | 1,639 | 17,226 |
Service Corp. International | 2,548 | 99,652 |
ServiceMaster Global Holdings, Inc.(1) | 1,936 | 52,272 |
Strategic Education, Inc. | 298 | 41,648 |
$519,767 | ||
Diversified Financial Services — 0.3% | ||
Equitable Holdings, Inc. | 5,700 | $82,365 |
Jefferies Financial Group, Inc. | 3,097 | 42,336 |
Voya Financial, Inc. | 1,752 | 71,044 |
$195,745 | ||
Diversified Telecommunication Services — 0.5% | ||
CenturyLink, Inc. | 15,701 | $148,531 |
GCI Liberty, Inc., Class A(1) | 1,482 | 84,429 |
Iridium Communications, Inc.(1) | 1,402 | 31,307 |
Vonage Holdings Corp.(1) | 3,168 | 22,905 |
$287,172 | ||
Electric Utilities — 1.2% | ||
Alliant Energy Corp. | 3,896 | $188,138 |
Avangrid, Inc. | 1,685 | 73,769 |
Eversource Energy | 4,407 | 344,672 |
Portland General Electric Co. | 2,112 | 101,249 |
$707,828 | ||
Electrical Equipment — 1.4% | ||
Acuity Brands, Inc. | 648 | $55,507 |
AMETEK, Inc. | 3,238 | 233,201 |
Generac Holdings, Inc.(1) | 981 | 91,400 |
GrafTech International, Ltd. | 1,328 | 10,783 |
Hubbell, Inc. | 878 | 100,742 |
nVent Electric PLC | 2,556 | 43,120 |
Regal Beloit Corp. | 666 | 41,925 |
Rockwell Automation, Inc. | 1,629 | 245,832 |
$822,510 | ||
Electronic Equipment, Instruments & Components — 2.8% | ||
Amphenol Corp., Class A | 3,971 | $289,407 |
Arrow Electronics, Inc.(1) | 1,104 | 57,264 |
Table of Contents
Security | Shares | Value |
Electronic Equipment, Instruments & Components (continued) | ||
Avnet, Inc. | 1,209 | $ 30,346 |
CDW Corp. | 2,020 | 188,405 |
Corning, Inc. | 10,974 | 225,406 |
Dolby Laboratories, Inc., Class A | 881 | 47,759 |
FLIR Systems, Inc. | 1,980 | 63,142 |
IPG Photonics Corp.(1) | 516 | 56,904 |
Jabil, Inc. | 2,133 | 52,429 |
Keysight Technologies, Inc.(1) | 2,735 | 228,865 |
National Instruments Corp. | 1,758 | 58,155 |
Novanta, Inc.(1) | 515 | 41,138 |
SYNNEX Corp. | 567 | 41,448 |
Tech Data Corp.(1) | 490 | 64,117 |
Trimble, Inc.(1) | 4,134 | 131,585 |
Zebra Technologies Corp., Class A(1) | 777 | 142,657 |
$1,719,027 | ||
Energy Equipment & Services — 0.2% | ||
Baker Hughes Co. | 6,473 | $67,966 |
National Oilwell Varco, Inc. | 7,312 | 71,877 |
$139,843 | ||
Entertainment — 1.0% | ||
Cinemark Holdings, Inc. | 1,463 | $14,908 |
Liberty Media Corp-Liberty Formula One, Series A(1) | 343 | 8,856 |
Lions Gate Entertainment Corp., Class A(1) | 2,916 | 17,729 |
Live Nation Entertainment, Inc.(1) | 1,895 | 86,147 |
Madison Square Garden Co. (The), Class A(1) | 255 | 53,910 |
Roku, Inc.(1) | 1,280 | 111,974 |
Take-Two Interactive Software, Inc.(1) | 1,626 | 192,860 |
World Wrestling Entertainment, Inc., Class A(2) | 740 | 25,108 |
Zynga, Inc., Class A(1) | 12,592 | 86,255 |
$597,747 | ||
Food & Staples Retailing — 0.9% | ||
BJ's Wholesale Club Holdings, Inc.(1) | 1,735 | $44,191 |
Casey's General Stores, Inc. | 574 | 76,049 |
Kroger Co. (The) | 10,743 | 323,579 |
Performance Food Group Co.(1) | 1,774 | 43,853 |
US Foods Holding Corp.(1) | 3,352 | 59,364 |
$547,036 | ||
Food Products — 3.4% | ||
Bunge, Ltd. | 2,144 | $87,968 |
Campbell Soup Co. | 2,691 | 124,217 |
Conagra Brands, Inc. | 7,535 | 221,077 |
Darling Ingredients, Inc.(1) | 2,519 | 48,289 |
Security | Shares | Value |
Food Products (continued) | ||
Flowers Foods, Inc. | 2,874 | $ 58,974 |
Hershey Co. (The) | 2,051 | 271,758 |
Hormel Foods Corp.(2) | 4,265 | 198,920 |
Ingredion, Inc. | 1,014 | 76,557 |
J&J Snack Foods Corp. | 253 | 30,613 |
JM Smucker Co. (The) | 1,713 | 190,143 |
Kellogg Co. | 3,658 | 219,443 |
Lamb Weston Holdings, Inc. | 2,212 | 126,305 |
Lancaster Colony Corp. | 262 | 37,896 |
McCormick & Co., Inc. | 1,859 | 262,509 |
Post Holdings, Inc.(1) | 991 | 82,223 |
TreeHouse Foods, Inc.(1) | 839 | 37,042 |
$2,073,934 | ||
Gas Utilities — 0.8% | ||
New Jersey Resources Corp. | 2,689 | $91,345 |
ONE Gas, Inc. | 1,225 | 102,435 |
Southwest Gas Holdings, Inc. | 1,490 | 103,644 |
Spire, Inc. | 1,352 | 100,697 |
UGI Corp. | 3,935 | 104,947 |
$503,068 | ||
Health Care Equipment & Supplies — 5.3% | ||
ABIOMED, Inc.(1) | 643 | $93,338 |
Align Technology, Inc.(1) | 1,026 | 178,473 |
Cantel Medical Corp.(2) | 499 | 17,914 |
Cooper Cos., Inc. (The) | 754 | 207,855 |
DENTSPLY SIRONA, Inc. | 3,218 | 124,955 |
DexCom, Inc.(1) | 1,210 | 325,817 |
Globus Medical, Inc., Class A(1) | 1,148 | 48,824 |
Haemonetics Corp.(1) | 743 | 74,047 |
Hill-Rom Holdings, Inc. | 957 | 96,274 |
Hologic, Inc.(1) | 3,652 | 128,185 |
ICU Medical, Inc.(1) | 281 | 56,697 |
IDEXX Laboratories, Inc.(1) | 1,178 | 285,359 |
Insulet Corp.(1) | 899 | 148,946 |
Integra LifeSciences Holdings Corp.(1) | 946 | 42,258 |
Masimo Corp.(1) | 699 | 123,807 |
Merit Medical Systems, Inc.(1) | 702 | 21,937 |
Neogen Corp.(1) | 717 | 48,032 |
Novocure, Ltd.(1) | 1,156 | 77,845 |
NuVasive, Inc.(1) | 798 | 40,427 |
Penumbra, Inc.(1) | 446 | 71,953 |
ResMed, Inc. | 1,985 | 292,371 |
STERIS PLC | 1,199 | 167,824 |
Tandem Diabetes Care, Inc.(1) | 855 | 55,019 |
Table of Contents
Security | Shares | Value |
Health Care Equipment & Supplies (continued) | ||
Teleflex, Inc. | 653 | $ 191,238 |
Varian Medical Systems, Inc.(1) | 1,324 | 135,922 |
West Pharmaceutical Services, Inc. | 1,060 | 161,385 |
$ 3,216,702 | ||
Health Care Providers & Services — 2.6% | ||
Amedisys, Inc.(1) | 465 | $ 85,346 |
Centene Corp.(1) | 7,605 | 451,813 |
Chemed Corp. | 219 | 94,871 |
Covetrus, Inc.(1)(2) | 1,567 | 12,755 |
DaVita, Inc.(1) | 1,404 | 106,788 |
Encompass Health Corp. | 1,439 | 92,139 |
Ensign Group, Inc. (The) | 634 | 23,845 |
Guardant Health, Inc.(1) | 498 | 34,661 |
HealthEquity, Inc.(1) | 1,028 | 52,007 |
Henry Schein, Inc.(1) | 2,058 | 103,970 |
Laboratory Corp. of America Holdings(1) | 1,408 | 177,957 |
LHC Group, Inc.(1) | 445 | 62,389 |
Molina Healthcare, Inc.(1) | 864 | 120,710 |
Premier, Inc., Class A(1) | 942 | 30,822 |
Quest Diagnostics, Inc. | 1,937 | 155,541 |
$1,605,614 | ||
Health Care Technology — 1.3% | ||
Cerner Corp. | 4,250 | $267,708 |
Omnicell, Inc.(1) | 570 | 37,381 |
Teladoc Health, Inc.(1) | 1,021 | 158,265 |
Veeva Systems, Inc., Class A(1) | 1,879 | 293,819 |
$757,173 | ||
Hotels, Restaurants & Leisure — 2.8% | ||
Aramark | 3,968 | $79,241 |
Chipotle Mexican Grill, Inc.(1) | 380 | 248,672 |
Choice Hotels International, Inc. | 456 | 27,930 |
Cracker Barrel Old Country Store, Inc. | 379 | 31,541 |
Darden Restaurants, Inc. | 1,932 | 105,217 |
Domino's Pizza, Inc. | 590 | 191,201 |
Dunkin' Brands Group, Inc. | 1,230 | 65,313 |
Extended Stay America, Inc. | 2,681 | 19,598 |
Hilton Worldwide Holdings, Inc. | 3,663 | 249,963 |
Hyatt Hotels Corp., Class A | 575 | 27,543 |
Marriott Vacations Worldwide Corp. | 516 | 28,679 |
Planet Fitness, Inc., Class A(1) | 1,133 | 55,177 |
Royal Caribbean Cruises, Ltd. | 2,461 | 79,170 |
Six Flags Entertainment Corp. | 1,106 | 13,869 |
Texas Roadhouse, Inc. | 961 | 39,689 |
Security | Shares | Value |
Hotels, Restaurants & Leisure (continued) | ||
Vail Resorts, Inc. | 597 | $ 88,183 |
Wendy's Co. (The) | 2,721 | 40,489 |
Wyndham Destinations, Inc. | 1,227 | 26,626 |
Wyndham Hotels & Resorts, Inc. | 1,430 | 45,059 |
Yum China Holdings, Inc. | 5,335 | 227,431 |
$ 1,690,591 | ||
Household Durables — 0.7% | ||
Helen of Troy, Ltd.(1) | 321 | $ 46,234 |
Leggett & Platt, Inc. | 1,734 | 46,263 |
Mohawk Industries, Inc.(1) | 762 | 58,095 |
Newell Brands, Inc. | 5,043 | 66,971 |
NVR, Inc.(1) | 53 | 136,163 |
Tempur Sealy International, Inc.(1) | 615 | 26,882 |
Whirlpool Corp.(2) | 787 | 67,524 |
$448,132 | ||
Household Products — 0.9% | ||
Church & Dwight Co., Inc. | 3,232 | $207,430 |
Clorox Co. (The) | 1,677 | 290,540 |
Energizer Holdings, Inc.(2) | 756 | 22,869 |
$520,839 | ||
Independent Power and Renewable Electricity Producers — 0.6% | ||
AES Corp. (The) | 10,629 | $144,554 |
Clearway Energy, Inc., Class C | 3,278 | 61,626 |
Ormat Technologies, Inc. | 1,278 | 86,470 |
TerraForm Power, Inc., Class A | 5,449 | 85,931 |
$378,581 | ||
Industrial Conglomerates — 0.2% | ||
Carlisle Cos., Inc. | 1,027 | $128,663 |
$128,663 | ||
Insurance — 4.4% | ||
Alleghany Corp. | 180 | $99,423 |
American Financial Group, Inc. | 968 | 67,837 |
American National Insurance Co. | 128 | 10,545 |
Arch Capital Group, Ltd.(1) | 5,296 | 150,724 |
Arthur J. Gallagher & Co. | 2,699 | 219,995 |
Assurant, Inc. | 783 | 81,502 |
Assured Guaranty, Ltd. | 1,156 | 29,813 |
Athene Holding, Ltd., Class A(1) | 1,686 | 41,847 |
Axis Capital Holdings, Ltd. | 1,029 | 39,771 |
Brighthouse Financial, Inc.(1) | 1,349 | 32,605 |
Brown & Brown, Inc. | 3,418 | 123,800 |
Table of Contents
Security | Shares | Value |
Insurance (continued) | ||
Cincinnati Financial Corp. | 2,001 | $ 150,975 |
Enstar Group, Ltd.(1) | 200 | 31,810 |
Erie Indemnity Co., Class A | 342 | 50,698 |
Everest Re Group, Ltd. | 528 | 101,598 |
Fidelity National Financial, Inc. | 3,433 | 85,413 |
First American Financial Corp. | 1,516 | 64,294 |
Globe Life, Inc. | 1,413 | 101,694 |
Hanover Insurance Group, Inc. (The) | 518 | 46,920 |
Hartford Financial Services Group, Inc. (The) | 4,797 | 169,046 |
Kemper Corp. | 891 | 66,264 |
Lincoln National Corp. | 2,685 | 70,669 |
Mercury General Corp. | 366 | 14,904 |
Old Republic International Corp. | 3,727 | 56,837 |
Primerica, Inc. | 558 | 49,372 |
Principal Financial Group, Inc. | 3,731 | 116,930 |
Reinsurance Group of America, Inc. | 860 | 72,360 |
RenaissanceRe Holdings, Ltd. | 562 | 83,918 |
RLI Corp. | 541 | 47,570 |
Selective Insurance Group, Inc. | 724 | 35,983 |
Unum Group | 2,528 | 37,945 |
White Mountains Insurance Group, Ltd. | 45 | 40,950 |
Willis Towers Watson PLC | 1,726 | 293,161 |
$2,687,173 | ||
Interactive Media & Services — 0.5% | ||
ANGI Homeservices, Inc., Class A(1)(2) | 818 | $4,295 |
Cargurus, Inc.(1) | 1,071 | 20,285 |
IAC/InterActiveCorp.(1) | 1,110 | 198,945 |
Match Group, Inc.(1) | 776 | 51,247 |
TripAdvisor, Inc. | 1,351 | 23,494 |
$298,266 | ||
Internet & Direct Marketing Retail — 0.5% | ||
Etsy, Inc.(1) | 1,572 | $60,428 |
Expedia Group, Inc. | 2,038 | 114,678 |
GrubHub, Inc.(1) | 1,388 | 56,533 |
Qurate Retail, Inc., Class A(1) | 4,969 | 30,336 |
Wayfair, Inc., Class A(1)(2) | 847 | 45,264 |
$307,239 | ||
IT Services — 4.4% | ||
Akamai Technologies, Inc.(1) | 2,267 | $207,408 |
Alliance Data Systems Corp. | 514 | 17,296 |
Amdocs, Ltd. | 1,994 | 109,610 |
Black Knight, Inc.(1) | 2,012 | 116,817 |
Booz Allen Hamilton Holding Corp., Class A | 2,064 | 141,673 |
Security | Shares | Value |
IT Services (continued) | ||
Broadridge Financial Solutions, Inc. | 1,611 | $ 152,771 |
DXC Technology Co. | 3,798 | 49,564 |
EPAM Systems, Inc.(1) | 774 | 143,701 |
Gartner, Inc.(1) | 1,257 | 125,159 |
Genpact, Ltd. | 2,521 | 73,613 |
GoDaddy, Inc., Class A(1) | 2,432 | 138,891 |
Jack Henry & Associates, Inc. | 1,086 | 168,591 |
LiveRamp Holdings, Inc.(1) | 878 | 28,904 |
MAXIMUS, Inc. | 979 | 56,978 |
MongoDB, Inc.(1)(2) | 671 | 91,618 |
Okta, Inc.(1) | 1,583 | 193,538 |
Perspecta, Inc. | 1,878 | 34,255 |
Sabre Corp. | 3,487 | 20,678 |
Science Applications International Corp. | 692 | 51,644 |
Square, Inc., Class A(1) | 4,633 | 242,676 |
Twilio, Inc., Class A(1) | 1,753 | 156,876 |
VeriSign, Inc.(1) | 1,475 | 265,633 |
WEX, Inc.(1) | 639 | 66,807 |
$2,654,701 | ||
Leisure Products — 0.3% | ||
Brunswick Corp. | 1,222 | $43,222 |
Hasbro, Inc. | 1,731 | 123,853 |
Mattel, Inc.(1) | 4,370 | 38,500 |
$205,575 | ||
Life Sciences Tools & Services — 2.7% | ||
Agilent Technologies, Inc. | 4,209 | $301,449 |
Bio-Rad Laboratories, Inc., Class A(1) | 300 | 105,168 |
Bio-Techne Corp. | 542 | 102,774 |
Bruker Corp. | 1,553 | 55,691 |
Charles River Laboratories International, Inc.(1) | 699 | 88,221 |
IQVIA Holdings, Inc.(1) | 2,508 | 270,513 |
Mettler-Toledo International, Inc.(1) | 338 | 233,392 |
PerkinElmer, Inc. | 1,619 | 121,878 |
PRA Health Sciences, Inc.(1) | 891 | 73,989 |
Repligen Corp.(1) | 673 | 64,971 |
Syneos Health, Inc.(1) | 848 | 33,428 |
Waters Corp.(1) | 906 | 164,937 |
$1,616,411 | ||
Machinery — 5.8% | ||
AGCO Corp. | 944 | $44,604 |
Allison Transmission Holdings, Inc. | 1,817 | 59,252 |
CNH Industrial NV | 15,827 | 88,789 |
Colfax Corp.(1) | 1,700 | 33,660 |
Table of Contents
Security | Shares | Value |
Machinery (continued) | ||
Crane Co. | 791 | $ 38,901 |
Cummins, Inc. | 2,061 | 278,894 |
Donaldson Co., Inc. | 1,974 | 76,256 |
Dover Corp. | 2,174 | 182,486 |
Flowserve Corp. | 1,987 | 47,469 |
Fortive Corp. | 4,142 | 228,597 |
Gates Industrial Corp. PLC(1) | 547 | 4,037 |
Graco, Inc. | 2,649 | 129,086 |
IDEX Corp. | 1,242 | 171,533 |
Ingersoll Rand, Inc.(1) | 2,067 | 51,262 |
ITT, Inc. | 1,410 | 63,958 |
John Bean Technologies Corp. | 510 | 37,878 |
Lincoln Electric Holdings, Inc. | 932 | 64,308 |
Middleby Corp. (The)(1) | 876 | 49,827 |
Navistar International Corp.(1) | 1,041 | 17,166 |
Nordson Corp. | 854 | 115,350 |
Oshkosh Corp. | 1,104 | 71,020 |
PACCAR, Inc. | 4,642 | 283,765 |
Parker-Hannifin Corp. | 1,757 | 227,936 |
Pentair PLC | 2,813 | 83,715 |
RBC Bearings, Inc.(1) | 424 | 47,823 |
Rexnord Corp. | 1,977 | 44,819 |
Snap-on, Inc. | 662 | 72,039 |
Stanley Black & Decker, Inc. | 2,157 | 215,700 |
Timken Co. (The) | 1,012 | 32,728 |
Toro Co. (The) | 1,712 | 111,434 |
WABCO Holdings, Inc.(1) | 850 | 114,792 |
Watts Water Technologies, Inc., Class A | 436 | 36,907 |
Westinghouse Air Brake Technologies Corp. | 2,884 | 138,807 |
Woodward, Inc. | 937 | 55,695 |
Xylem, Inc. | 2,789 | 181,648 |
$3,502,141 | ||
Media — 2.1% | ||
Altice USA, Inc., Class A(1) | 4,838 | $107,839 |
AMC Networks, Inc., Class A(1) | 560 | 13,613 |
Cable One, Inc. | 65 | 106,861 |
Discovery, Inc., Class A(1) | 6,971 | 135,516 |
DISH Network Corp., Class A(1) | 3,478 | 69,525 |
Interpublic Group of Cos., Inc. (The) | 5,647 | 91,425 |
Liberty Broadband Corp., Class A(1) | 1,932 | 206,724 |
Liberty Latin America, Ltd., Class C(1) | 2,222 | 22,798 |
New York Times Co. (The), Class A | 2,035 | 62,495 |
Nexstar Media Group, Inc., Class A | 699 | 40,353 |
Omnicom Group, Inc. | 3,203 | 175,845 |
Sinclair Broadcast Group, Inc., Class A | 616 | 9,905 |
Sirius XM Holdings, Inc. | 18,802 | 92,882 |
Security | Shares | Value |
Media (continued) | ||
TEGNA, Inc. | 3,084 | $ 33,492 |
ViacomCBS, Inc., Class B | 8,664 | 121,383 |
$ 1,290,656 | ||
Metals & Mining — 0.6% | ||
Nucor Corp. | 4,702 | $ 169,366 |
Reliance Steel & Aluminum Co. | 1,288 | 112,816 |
Steel Dynamics, Inc. | 4,387 | 98,883 |
$ 381,065 | ||
Multiline Retail — 0.2% | ||
Kohl's Corp. | 1,975 | $28,815 |
Macy's, Inc.(2) | 3,642 | 17,882 |
Nordstrom, Inc.(2) | 1,247 | 19,129 |
Ollie's Bargain Outlet Holdings, Inc.(1) | 799 | 37,026 |
$102,852 | ||
Multi-Utilities — 1.0% | ||
Ameren Corp. | 3,441 | $250,608 |
CenterPoint Energy, Inc. | 8,101 | 125,161 |
CMS Energy Corp. | 4,123 | 242,226 |
$617,995 | ||
Personal Products — 0.0%(3) | ||
Coty, Inc., Class A | 3,619 | $18,674 |
$18,674 | ||
Pharmaceuticals — 0.9% | ||
Catalent, Inc.(1) | 2,220 | $115,329 |
Elanco Animal Health, Inc.(1) | 5,673 | 127,018 |
Horizon Therapeutics PLC(1) | 2,754 | 81,574 |
Jazz Pharmaceuticals PLC(1) | 793 | 79,094 |
Nektar Therapeutics(1) | 2,431 | 43,393 |
Perrigo Co. PLC | 1,950 | 93,776 |
$540,184 | ||
Professional Services — 2.4% | ||
CoreLogic, Inc. | 1,036 | $31,639 |
CoStar Group, Inc.(1) | 487 | 285,971 |
Exponent, Inc. | 768 | 55,227 |
FTI Consulting, Inc.(1) | 562 | 67,311 |
IHS Markit, Ltd. | 5,259 | 315,540 |
Insperity, Inc. | 558 | 20,813 |
ManpowerGroup, Inc. | 894 | 47,373 |
Nielsen Holdings PLC | 5,301 | 66,475 |
Robert Half International, Inc. | 1,611 | 60,815 |
Table of Contents
Security | Shares | Value |
Professional Services (continued) | ||
TransUnion | 2,759 | $ 182,591 |
TriNet Group, Inc.(1) | 605 | 22,784 |
Verisk Analytics, Inc. | 2,167 | 302,037 |
$ 1,458,576 | ||
Real Estate Management & Development — 0.5% | ||
CBRE Group, Inc., Class A(1) | 4,743 | $ 178,858 |
Jones Lang LaSalle, Inc. | 969 | 97,850 |
$ 276,708 | ||
Road & Rail — 1.0% | ||
AMERCO | 123 | $35,738 |
J.B. Hunt Transport Services, Inc. | 1,156 | 106,618 |
Kansas City Southern | 1,339 | 170,294 |
Knight-Swift Transportation Holdings, Inc. | 1,812 | 59,434 |
Landstar System, Inc. | 534 | 51,189 |
Old Dominion Freight Line, Inc. | 1,482 | 194,527 |
Schneider National, Inc., Class B | 630 | 12,184 |
$629,984 | ||
Semiconductors & Semiconductor Equipment — 4.7% | ||
Cabot Microelectronics Corp. | 444 | $50,678 |
Cree, Inc.(1) | 1,462 | 51,842 |
Cypress Semiconductor Corp. | 5,262 | 122,710 |
Entegris, Inc. | 1,935 | 86,630 |
First Solar, Inc.(1) | 923 | 33,283 |
KLA Corp. | 2,117 | 304,298 |
Lam Research Corp. | 1,827 | 438,480 |
Marvell Technology Group, Ltd. | 9,446 | 213,763 |
Maxim Integrated Products, Inc. | 3,796 | 184,524 |
Microchip Technology, Inc.(2) | 3,244 | 219,943 |
MKS Instruments, Inc. | 878 | 71,513 |
Monolithic Power Systems, Inc. | 582 | 97,462 |
ON Semiconductor Corp.(1) | 6,049 | 75,250 |
Qorvo, Inc.(1) | 1,642 | 132,394 |
Silicon Laboratories, Inc.(1) | 648 | 55,346 |
Skyworks Solutions, Inc. | 2,423 | 216,568 |
Teradyne, Inc. | 2,743 | 148,588 |
Universal Display Corp. | 632 | 83,285 |
Xilinx, Inc. | 3,444 | 268,425 |
$2,854,982 | ||
Software — 8.5% | ||
ACI Worldwide, Inc.(1) | 1,541 | $37,215 |
Alteryx, Inc., Class A(1) | 745 | 70,902 |
Anaplan, Inc.(1) | 1,159 | 35,071 |
Security | Shares | Value |
Software (continued) | ||
ANSYS, Inc.(1) | 1,208 | $ 280,824 |
Appfolio, Inc., Class A(1)(2) | 192 | 21,302 |
Aspen Technology, Inc.(1) | 980 | 93,169 |
Avalara, Inc.(1) | 1,039 | 77,509 |
Blackbaud, Inc. | 646 | 35,885 |
Blackline, Inc.(1) | 631 | 33,197 |
Cadence Design Systems, Inc.(1) | 3,918 | 258,745 |
CDK Global, Inc. | 1,661 | 54,564 |
Ceridian HCM Holding, Inc.(1) | 1,375 | 68,846 |
Citrix Systems, Inc. | 1,731 | 245,023 |
Cornerstone OnDemand, Inc.(1) | 912 | 28,956 |
Coupa Software, Inc.(1) | 889 | 124,220 |
DocuSign, Inc.(1) | 2,301 | 212,612 |
Dropbox, Inc., Class A(1) | 3,224 | 58,354 |
Elastic NV(1) | 424 | 23,663 |
Envestnet, Inc.(1) | 700 | 37,646 |
Fair Isaac Corp.(1) | 430 | 132,307 |
FireEye, Inc.(1) | 2,910 | 30,788 |
Five9, Inc.(1) | 839 | 64,150 |
Fortinet, Inc.(1) | 2,080 | 210,434 |
Guidewire Software, Inc.(1) | 1,180 | 93,586 |
HubSpot, Inc.(1) | 599 | 79,781 |
j2 Global, Inc. | 709 | 53,069 |
LogMeIn, Inc. | 656 | 54,632 |
Manhattan Associates, Inc.(1) | 961 | 47,877 |
New Relic, Inc.(1) | 679 | 31,397 |
NortonLifeLock, Inc. | 8,567 | 160,288 |
Nuance Communications, Inc.(1) | 4,202 | 70,509 |
Nutanix, Inc., Class A(1) | 2,292 | 36,214 |
Palo Alto Networks, Inc.(1) | 1,382 | 226,593 |
Paycom Software, Inc.(1) | 696 | 140,599 |
Paylocity Holding Corp.(1) | 529 | 46,721 |
Pegasystems, Inc. | 568 | 40,459 |
Pluralsight, Inc., Class A(1)(2) | 1,259 | 13,824 |
Proofpoint, Inc.(1) | 780 | 80,020 |
PTC, Inc.(1) | 1,515 | 92,733 |
Q2 Holdings, Inc.(1)(2) | 644 | 38,035 |
Qualys, Inc.(1) | 441 | 38,362 |
RealPage, Inc.(1) | 1,260 | 66,692 |
RingCentral, Inc., Class A(1) | 1,080 | 228,863 |
Smartsheet, Inc., Class A(1) | 1,482 | 61,518 |
SolarWinds Corp.(1) | 805 | 12,614 |
Splunk, Inc.(1) | 2,148 | 271,142 |
SS&C Technologies Holdings, Inc. | 3,201 | 140,268 |
Synopsys, Inc.(1) | 2,087 | 268,785 |
Teradata Corp.(1) | 1,660 | 34,013 |
Trade Desk, Inc. (The), Class A(1) | 572 | 110,396 |
Table of Contents
Security | Shares | Value |
Software (continued) | ||
Tyler Technologies, Inc.(1) | 568 | $ 168,446 |
Verint Systems, Inc.(1) | 886 | 38,098 |
Zendesk, Inc.(1) | 1,594 | 102,032 |
Zscaler, Inc.(1)(2) | 952 | 57,939 |
$ 5,140,887 | ||
Specialty Retail — 2.5% | ||
Aaron's, Inc. | 831 | $ 18,930 |
Advance Auto Parts, Inc. | 949 | 88,561 |
American Eagle Outfitters, Inc. | 1,689 | 13,427 |
AutoNation, Inc.(1) | 628 | 17,622 |
AutoZone, Inc.(1) | 316 | 267,336 |
Best Buy Co., Inc. | 3,079 | 175,503 |
Burlington Stores, Inc.(1) | 877 | 138,969 |
CarMax, Inc.(1) | 2,120 | 114,120 |
Dick's Sporting Goods, Inc. | 914 | 19,432 |
Five Below, Inc.(1) | 712 | 50,110 |
Floor & Decor Holdings, Inc., Class A(1) | 997 | 31,994 |
Foot Locker, Inc. | 1,414 | 31,179 |
Gap, Inc. (The) | 2,721 | 19,156 |
L Brands, Inc. | 2,834 | 32,761 |
Penske Automotive Group, Inc. | 490 | 13,720 |
Tiffany & Co. | 1,622 | 210,049 |
Tractor Supply Co. | 1,556 | 131,560 |
Ulta Beauty, Inc.(1) | 712 | 125,098 |
Williams-Sonoma, Inc. | 1,018 | 43,285 |
$1,542,812 | ||
Technology Hardware, Storage & Peripherals — 1.3% | ||
Hewlett Packard Enterprise Co. | 18,396 | $178,625 |
NCR Corp.(1) | 1,720 | 30,444 |
NetApp, Inc. | 3,152 | 131,407 |
Pure Storage, Inc., Class A(1) | 3,502 | 43,075 |
Seagate Technology PLC | 3,802 | 185,538 |
Western Digital Corp. | 4,244 | 176,635 |
Xerox Holdings Corp. | 2,957 | 56,005 |
$801,729 | ||
Textiles, Apparel & Luxury Goods — 1.1% | ||
Capri Holdings, Ltd.(1) | 1,752 | $18,904 |
Carter's, Inc. | 562 | 36,940 |
Columbia Sportswear Co. | 395 | 27,559 |
Deckers Outdoor Corp.(1) | 363 | 48,642 |
Hanesbrands, Inc.(2) | 4,986 | 39,240 |
lululemon Athletica, Inc.(1) | 1,559 | 295,509 |
PVH Corp. | 960 | 36,134 |
Security | Shares | Value |
Textiles, Apparel & Luxury Goods (continued) | ||
Ralph Lauren Corp., Class A | 626 | $ 41,836 |
Skechers U.S.A., Inc., Class A(1) | 1,668 | 39,598 |
Tapestry, Inc. | 3,641 | 47,151 |
Under Armour, Inc., Class A(1)(2) | 4,504 | 41,482 |
$ 672,995 | ||
Thrifts & Mortgage Finance — 0.3% | ||
Essent Group, Ltd. | 1,305 | $ 34,374 |
MGIC Investment Corp. | 4,224 | 26,822 |
New York Community Bancorp, Inc. | 6,095 | 57,232 |
Radian Group, Inc. | 2,477 | 32,077 |
TFS Financial Corp. | 618 | 9,437 |
$159,942 | ||
Trading Companies & Distributors — 1.1% | ||
Air Lease Corp. | 1,631 | $36,110 |
Fastenal Co. | 7,677 | 239,906 |
HD Supply Holdings, Inc.(1) | 2,618 | 74,430 |
MSC Industrial Direct Co., Inc., Class A | 753 | 41,392 |
United Rentals, Inc.(1) | 1,204 | 123,892 |
Univar Solutions, Inc.(1) | 2,482 | 26,607 |
W.W. Grainger, Inc. | 578 | 143,633 |
$685,970 | ||
Transportation Infrastructure — 0.0%(3) | ||
Macquarie Infrastructure Corp. | 1,048 | $26,462 |
$26,462 | ||
Water Utilities — 0.7% | ||
American Water Works Co., Inc. | 2,499 | $298,781 |
Essential Utilities, Inc. | 3,772 | 153,520 |
$452,301 | ||
Wireless Telecommunication Services — 0.1% | ||
Telephone & Data Systems, Inc. | 1,507 | $25,258 |
United States Cellular Corp.(1) | 139 | 4,071 |
$29,329 | ||
Total Common Stocks (identified cost $64,913,758) | $60,119,419 |
Table of Contents
Short-Term Investments — 0.2% |
Security | Shares | Value |
State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(4) | 152,298 | $ 152,298 |
Total Short-Term Investments (identified cost $152,298) | $ 152,298 | |
Total Investments — 99.3% (identified cost $65,066,056) | $60,271,717 | |
Other Assets, Less Liabilities — 0.7% | $ 422,956 | |
Net Assets — 100.0% | $60,694,673 |
The percentage shown for each investment category in the Schedule of Investments is based on net assets. | ||
(1) | Non-income producing security. | |
(2) | All or a portion of this security was on loan at March 31, 2020. The aggregate market value of securities on loan at March 31, 2020 was $1,378,606. | |
(3) | Amount is less than 0.05%. | |
(4) | Represents investment of cash collateral received in connection with securities lending. |
Table of Contents
March 31, 2020 | |
Assets | |
Investments in securities of unaffiliated issuers, at value (identified cost $65,066,056) - including $1,378,606 of securities on loan | $60,271,717 |
Cash | 584,882 |
Receivable for capital shares sold | 567,281 |
Dividends receivable | 68,524 |
Securities lending income receivable | 290 |
Receivable from affiliate | 11,959 |
Directors' deferred compensation plan | 38,352 |
Total assets | $61,543,005 |
Liabilities | |
Payable for investments purchased | $493,733 |
Payable for capital shares redeemed | 79,794 |
Deposits for securities loaned | 152,298 |
Payable to affiliates: | |
Investment advisory fee | 6,212 |
Administrative fee | 6,213 |
Distribution and service fees | 2,311 |
Sub-transfer agency fee | 1,017 |
Directors' deferred compensation plan | 38,352 |
Accrued expenses | 68,402 |
Total liabilities | $848,332 |
Net Assets | $60,694,673 |
Sources of Net Assets | |
Paid-in capital | $66,631,375 |
Accumulated loss | (5,936,702) |
Total | $60,694,673 |
Class A Shares | |
Net Assets | $10,247,641 |
Shares Outstanding | 478,903 |
Net Asset Value and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $21.40 |
Maximum Offering Price Per Share (100 ÷ 95.25 of net asset value per share) | $22.47 |
Class I Shares | |
Net Assets | $50,447,032 |
Shares Outstanding | 2,340,498 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $21.55 |
On sales of $50,000 or more, the offering price of Class A shares is reduced. |
Table of Contents
Six Months Ended | |
March 31, 2020 | |
Investment Income | |
Dividend income (net of foreign taxes withheld of $95) | $577,488 |
Interest income | 1,064 |
Securities lending income, net | 3,366 |
Total investment income | $581,918 |
Expenses | |
Investment advisory fee | $40,310 |
Administrative fee | 40,310 |
Distribution and service fees: | |
Class A | 16,356 |
Directors' fees and expenses | 1,829 |
Custodian fees | 7,729 |
Transfer agency fees and expenses | 36,480 |
Accounting fees | 6,382 |
Professional fees | 17,414 |
Registration fees | 19,959 |
Reports to shareholders | 7,910 |
Miscellaneous | 6,600 |
Total expenses | $201,279 |
Waiver and/or reimbursement of expenses by affiliate | $(103,228) |
Reimbursement of expenses - other | (954) |
Net expenses | $97,097 |
Net investment income | $484,821 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment securities | $94,222 |
Net realized gain | $94,222 |
Change in unrealized appreciation (depreciation): | |
Investment securities | $(14,385,164) |
Net change in unrealized appreciation (depreciation) | $(14,385,164) |
Net realized and unrealized loss | $(14,290,942) |
Net decrease in net assets from operations | $(13,806,121) |
Table of Contents
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $484,821 | $687,757 |
Net realized gain (loss) | 94,222 | (105,280) |
Net change in unrealized appreciation (depreciation) | (14,385,164) | (514,228) |
Net increase (decrease) in net assets from operations | $(13,806,121) | $68,249 |
Distributions to shareholders: | ||
Class A | $(216,029) | $(548,723) |
Class I | (1,003,602) | (1,261,327) |
Total distributions to shareholders | $(1,219,631) | $(1,810,050) |
Capital share transactions: | ||
Class A | $541,347 | $(9,305,867) |
Class I | 13,572,756 | 3,266,862 |
Net increase (decrease) in net assets from capital share transactions | $14,114,103 | $(6,039,005) |
Net decrease in net assets | $(911,649) | $(7,780,806) |
Net Assets | ||
At beginning of period | $61,606,322 | $69,387,128 |
At end of period | $60,694,673 | $61,606,322 |
Table of Contents
Class A | |||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | Period Ended September 30, 2016(1) | |||
2019 | 2018 | 2017 | |||
Net asset value — Beginning of period | $26.80 | $27.23 | $24.44 | $21.25 | $20.00 |
Income (Loss) From Operations | |||||
Net investment income(2) | $0.17 | $0.24 | $0.25 | $0.38 | $0.23 |
Net realized and unrealized gain (loss) | (5.12) | (0.02) | 3.25 | 3.22 | 1.08 |
Total income (loss) from operations | $(4.95) | $0.22 | $3.50 | $3.60 | $1.31 |
Less Distributions | |||||
From net investment income | $(0.18) | $(0.24) | $(0.24) | $(0.16) | $(0.06) |
From net realized gain | (0.27) | (0.41) | (0.47) | (0.25) | — |
Total distributions | $(0.45) | $(0.65) | $0.71 | $(0.41) | $(0.06) |
Net asset value — End of period | $21.40 | $26.80 | $27.23 | $24.44 | $21.25 |
Total Return(3) | (18.86)%(4) | 1.05% | 14.55% | 17.12% | 6.55%(4) |
Ratios/Supplemental Data | |||||
Net assets, end of period (000’s omitted) | $10,248 | $12,385 | $22,575 | $14,339 | $5,442 |
Ratios (as a percentage of average daily net assets):(5) | |||||
Total expenses | 0.80%(6) | 0.90% | 0.94% | 1.53% | 3.20%(6) |
Net expenses | 0.49%(6) | 0.53% | 0.57% | 0.57% | 0.57%(6) |
Net investment income | 1.23%(6) | 0.93% | 0.95% | 1.64% | 1.26%(6) |
Portfolio Turnover | 8%(4) | 57% | 39% | 63% | 42%(4) |
(1) | From October 30, 2015 inception. |
(2) | Computed using average shares outstanding. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
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Class I | |||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | Period Ended September 30, 2016(1) | |||
2019 | 2018 | 2017 | |||
Net asset value — Beginning of period | $27.04 | $27.45 | $24.56 | $21.31 | $20.00 |
Income (Loss) From Operations | |||||
Net investment income(2) | $0.20 | $0.32 | $0.34 | $0.52 | $0.29 |
Net realized and unrealized gain (loss) | (5.16) | (0.02) | 3.27 | 3.17 | 1.09 |
Total income (loss) from operations | $(4.96) | $0.30 | $3.61 | $3.69 | $1.38 |
Less Distributions | |||||
From net investment income | $(0.26) | $(0.30) | $(0.25) | $(0.19) | $(0.07) |
From net realized gain | (0.27) | (0.41) | (0.47) | (0.25) | — |
Total distributions | $(0.53) | $(0.71) | $(0.72) | $(0.44) | $(0.07) |
Net asset value — End of period | $21.55 | $27.04 | $27.45 | $24.56 | $21.31 |
Total Return(3) | (18.76)%(4) | 1.30% | 14.96% | 17.50% | 6.91%(4) |
Ratios/Supplemental Data | |||||
Net assets, end of period (000’s omitted) | $50,447 | $49,221 | $46,812 | $21,075 | $4,791 |
Ratios (as a percentage of average daily net assets):(5) | |||||
Total expenses | 0.55%(6) | 0.64% | 0.69% | 0.87% | 2.72%(6) |
Net expenses | 0.24%(6) | 0.24% | 0.22% | 0.22% | 0.22%(6) |
Net investment income | 1.49%(6) | 1.23% | 1.31% | 2.21% | 1.62%(6) |
Portfolio Turnover | 8%(4) | 57% | 39% | 63% | 42%(4) |
(1) | From October 30, 2015 inception. |
(2) | Computed using average shares outstanding. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
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Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $60,119,419(1) | $ — | $— | $60,119,419 |
Short-Term Investments | 152,298 | — | — | 152,298 |
Total Investments | $60,271,717 | $ — | $ — | $60,271,717 |
(1) | The level classification by major category of investments is the same as the category presentation in the Schedule of Investments. |
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Aggregate cost | $66,573,224 |
Gross unrealized appreciation | $4,838,970 |
Gross unrealized depreciation | (11,140,477) |
Net unrealized depreciation | $(6,301,507) |
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Remaining Contractual Maturity of the Transactions | |||||
Overnight and Continuous | <30 days | 30 to 90 days | >90 days | Total | |
Securities Lending Transactions | |||||
Common Stocks | $152,298 | $ — | $ — | $ — | $152,298 |
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Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | ||||
Shares | Amount | Shares | Amount | ||
Class A | |||||
Shares sold | 105,518 | $2,903,880 | 212,360 | $5,411,584 | |
Reinvestment of distributions | 7,447 | 206,820 | 21,810 | 537,820 | |
Shares redeemed | (96,241) | (2,569,353) | (601,154) | (15,255,271) | |
Net increase (decrease) | 16,724 | $541,347 | (366,984) | $(9,305,867) | |
Class I | |||||
Shares sold | 685,370 | $17,797,325 | 1,074,807 | $27,546,107 | |
Reinvestment of distributions | 31,454 | 879,133 | 47,929 | 1,189,603 | |
Shares redeemed | (196,935) | (5,103,702) | (1,007,725) | (25,468,848) | |
Net increase | 519,889 | $13,572,756 | 115,011 | $3,266,862 |
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Officers |
Hope L. Brown Chief Compliance Officer |
Maureen A. Gemma Vice President, Secretary and Chief Legal Officer |
James F. Kirchner Treasurer |
Directors |
Alice Gresham Bullock Chairperson |
Richard L. Baird, Jr. |
Cari M. Dominguez |
John G. Guffey, Jr. |
Miles D. Harper, III |
Joy V. Jones |
John H. Streur* |
Anthony A. Williams |
*Interested Director and President |
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• | At the time of opening an account, Eaton Vance generally requires you to provide us with certain information such as name, address, social security number, tax status, account numbers, and account balances. This information is necessary for us to both open an account for you and to allow us to satisfy legal requirements such as applicable anti-money laundering reviews and know-your-customer requirements. |
• | On an ongoing basis, in the normal course of servicing your account, Eaton Vance may share your information with unaffiliated third parties that perform various services for Eaton Vance and/or your account. These third parties include transfer agents, custodians, broker/dealers and our professional advisers, including auditors, accountants, and legal counsel. Eaton Vance may additionally share your personal information with our affiliates. |
• | We believe our Privacy Program is reasonably designed to protect the confidentiality of your personal information and to prevent unauthorized access to that information. |
• | We reserve the right to change our Privacy Program at any time upon proper notification to you. You may want to review our Privacy Program periodically for changes by accessing the link on our homepage: www.eatonvance.com. |
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% Average Annual Total Returns1,2 | Class Inception Date | Performance Inception Date | Six Months | One Year | Five Years | Ten Years |
Class A at NAV | 06/30/2000 | 06/30/2000 | (10.63)% | (5.20)% | 6.40% | 10.20% |
Class A with 4.75% Maximum Sales Charge | — | — | (14.89) | (9.72) | 5.38 | 9.66 |
Class C at NAV | 06/30/2000 | 06/30/2000 | (10.97) | (5.90) | 5.61 | 9.29 |
Class C with 1% Maximum Sales Charge | — | — | (11.85) | (6.84) | 5.61 | 9.29 |
Class I at NAV | 06/30/2000 | 06/30/2000 | (10.54) | (4.94) | 6.77 | 10.69 |
Class R6 at NAV | 10/03/2017 | 06/30/2000 | (10.52) | (4.91) | 6.77 | 10.69 |
·· | ||||||
Russell 1000® Index | — | — | (13.01)% | (8.03)% | 6.21% | 10.38% |
Calvert US Large-Cap Core Responsible Index | — | — | (10.52) | (4.79) | 7.01 | 10.98 |
% Total Annual Operating Expense Ratios3 | Class A | Class C | Class I | Class R6 |
Gross | 0.62% | 1.38% | 0.37% | 0.32% |
Net | 0.49 | 1.24 | 0.24 | 0.19 |
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Top 10 Holdings (% of net assets)* | |
Microsoft Corp. | 5.3% |
Apple, Inc. | 5.0 |
Amazon.com, Inc. | 3.7 |
Alphabet, Inc., Class A | 3.1 |
Visa, Inc., Class A | 1.3 |
JPMorgan Chase & Co. | 1.3 |
Procter & Gamble Co. (The) | 1.3 |
Intel Corp. | 1.2 |
Verizon Communications, Inc. | 1.1 |
MasterCard, Inc., Class A | 1.1 |
Total | 24.4% |
* | Excludes cash and cash equivalents. |
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1 | Russell 1000® Index is an unmanaged index of U.S. large-cap stocks. Calvert US Large-Cap Core Responsible Index (the “Calvert Index”) is composed of common stocks of large companies that operate their businesses in a manner consistent with the Calvert Principles for Responsible Investment. Large companies are the 1,000 largest publicly traded U.S. companies based on market capitalization, excluding real estate investment trusts and business development companies. The Calvert Principles for Responsible Investment serve as a framework for considering environmental, social and governance factors that may affect investment performance. Stocks are weighted in the Calvert Index based on their float-adjusted market capitalization within the relevant sector, subject to certain prescribed limits. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 | Total Returns at NAV do not include applicable sales charges. If sales charges were deducted, the returns would be lower. Total Returns shown with maximum sales charge reflect the stated maximum sales charge. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares.Performance prior to the inception date of a class may be linked to the performance of an older class of the Fund. This linked performance is adjusted for any applicable sales charge, but is not adjusted for class expense differences. If adjusted for such differences, the performance would be different. The performance of Class R6 is linked to Class I. Performance presented in the Financial Highlights included in the financial statements is not linked.Calvert Research and Management became the investment adviser to the Fund on December 31, 2016. Performance reflected prior to such date is that of the Fund’s former investment adviser. |
3 | Source: Fund prospectus. Net expense ratios reflect a contractual expense reimbursement that continues through 1/31/21. Without the reimbursement, performance would have been lower. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report. |
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Beginning Account Value (10/1/19) | Ending Account Value (3/31/20) | Expenses Paid During Period* (10/1/19 – 3/31/20) | Annualized Expense Ratio | |
Actual | ||||
Class A | $1,000.00 | $893.70 | $2.32** | 0.49% |
Class C | $1,000.00 | $890.30 | $5.86** | 1.24% |
Class I | $1,000.00 | $894.60 | $1.14** | 0.24% |
Class R6 | $1,000.00 | $894.80 | $0.90** | 0.19% |
Hypothetical | ||||
(5% return per year before expenses) | ||||
Class A | $1,000.00 | $1,022.55 | $2.48** | 0.49% |
Class C | $1,000.00 | $1,018.80 | $6.26** | 1.24% |
Class I | $1,000.00 | $1,023.80 | $1.21** | 0.24% |
Class R6 | $1,000.00 | $1,024.05 | $0.96** | 0.19% |
* | Expenses are equal to the Fund's annualized expense ratio for the indicated Class, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). The Example assumes that the $1,000 was invested at the net asset value per share determined at the close of business on September 30, 2019. |
** | Absent a waiver and/or reimbursement of expenses by an affiliate, expenses would be higher. |
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Common Stocks — 99.4% |
Security | Shares | Value |
Aerospace & Defense — 0.1% | ||
Axon Enterprise, Inc.(1) | 8,766 | $ 620,370 |
HEICO Corp. | 6,668 | 497,499 |
Hexcel Corp. | 12,890 | 479,379 |
Mercury Systems, Inc.(1) | 4,697 | 335,084 |
Moog, Inc., Class A | 5,296 | 267,607 |
$ 2,199,939 | ||
Air Freight & Logistics — 0.7% | ||
C.H. Robinson Worldwide, Inc. | 14,418 | $ 954,471 |
Expeditors International of Washington, Inc. | 19,232 | 1,283,159 |
FedEx Corp. | 27,253 | 3,304,699 |
United Parcel Service, Inc., Class B | 78,757 | 7,357,479 |
$12,899,808 | ||
Airlines — 0.3% | ||
Alaska Air Group, Inc. | 13,638 | $388,274 |
American Airlines Group, Inc. | 47,938 | 584,364 |
Delta Air Lines, Inc. | 64,532 | 1,841,098 |
JetBlue Airways Corp.(1) | 34,796 | 311,424 |
SkyWest, Inc. | 6,088 | 159,445 |
Southwest Airlines Co. | 60,096 | 2,140,018 |
Spirit Airlines, Inc.(1) | 6,099 | 78,616 |
United Airlines Holdings, Inc.(1) | 27,996 | 883,274 |
$6,386,513 | ||
Auto Components — 0.2% | ||
Aptiv PLC | 27,687 | $1,363,308 |
Autoliv, Inc. | 10,909 | 501,923 |
BorgWarner, Inc. | 23,875 | 581,834 |
Gentex Corp. | 28,406 | 629,477 |
Lear Corp. | 6,901 | 560,706 |
$3,637,248 | ||
Automobiles — 0.6% | ||
Ford Motor Co. | 449,413 | $2,170,665 |
Harley-Davidson, Inc. | 17,804 | 337,030 |
Tesla, Inc.(1) | 16,493 | 8,642,332 |
Thor Industries, Inc. | 4,873 | 205,543 |
$11,355,570 | ||
Banks — 4.6% | ||
Associated Banc-Corp. | 18,955 | $242,434 |
BancorpSouth Bank | 10,843 | 205,150 |
Bank of America Corp. | 843,206 | 17,901,263 |
Security | Shares | Value |
Banks (continued) | ||
Bank of Hawaii Corp. | 4,302 | $ 237,642 |
Bank OZK | 12,949 | 216,248 |
BankUnited, Inc. | 9,834 | 183,896 |
BOK Financial Corp. | 2,833 | 120,572 |
CenterState Bank Corp. | 12,051 | 207,639 |
CIT Group, Inc. | 9,334 | 161,105 |
Citigroup, Inc. | 228,241 | 9,613,511 |
Citizens Financial Group, Inc. | 51,382 | 966,495 |
Comerica, Inc. | 15,563 | 456,618 |
Commerce Bancshares, Inc. | 12,353 | 621,974 |
Community Bank System, Inc. | 6,817 | 400,840 |
Cullen/Frost Bankers, Inc. | 6,637 | 370,278 |
CVB Financial Corp. | 12,785 | 256,339 |
East West Bancorp, Inc. | 14,887 | 383,191 |
F.N.B. Corp. | 37,284 | 274,783 |
Fifth Third Bancorp | 77,469 | 1,150,415 |
First Citizens BancShares, Inc., Class A | 592 | 197,059 |
First Financial Bankshares, Inc. | 16,059 | 431,024 |
First Hawaiian, Inc. | 14,479 | 239,338 |
First Horizon National Corp. | 28,561 | 230,202 |
First Republic Bank | 19,201 | 1,579,858 |
Glacier Bancorp, Inc. | 10,837 | 368,512 |
Hancock Whitney Corp. | 9,530 | 186,026 |
Home BancShares, Inc. | 18,574 | 222,702 |
Huntington Bancshares, Inc. | 108,278 | 888,962 |
IBERIABANK Corp. | 6,035 | 218,226 |
Investors Bancorp, Inc. | 19,723 | 157,587 |
JPMorgan Chase & Co. | 285,533 | 25,706,536 |
KeyCorp | 110,563 | 1,146,538 |
M&T Bank Corp. | 14,895 | 1,540,590 |
Old National Bancorp | 20,577 | 271,411 |
PacWest Bancorp | 12,940 | 231,885 |
People's United Financial, Inc. | 46,049 | 508,841 |
Pinnacle Financial Partners, Inc. | 9,033 | 339,099 |
PNC Financial Services Group, Inc. (The) | 49,738 | 4,760,921 |
Popular, Inc. | 8,844 | 309,540 |
Prosperity Bancshares, Inc. | 9,432 | 455,094 |
Regions Financial Corp. | 107,410 | 963,468 |
Signature Bank | 6,217 | 499,785 |
Sterling Bancorp | 26,159 | 273,362 |
SVB Financial Group(1) | 5,841 | 882,458 |
Synovus Financial Corp. | 16,695 | 293,164 |
Texas Capital Bancshares, Inc.(1) | 5,349 | 118,587 |
Truist Financial Corp. | 154,050 | 4,750,902 |
U.S. Bancorp | 174,751 | 6,020,172 |
UMB Financial Corp. | 4,561 | 211,539 |
Umpqua Holdings Corp. | 21,648 | 235,963 |
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Security | Shares | Value |
Banks (continued) | ||
United Bankshares, Inc. | 13,383 | $ 308,880 |
Valley National Bancorp | 46,832 | 342,342 |
Webster Financial Corp. | 9,519 | 217,985 |
Western Alliance Bancorp | 10,724 | 328,262 |
Wintrust Financial Corp. | 5,082 | 166,995 |
Zions Bancorp NA | 19,371 | 518,368 |
$ 90,092,576 | ||
Beverages — 1.8% | ||
Coca-Cola Co. (The) | 382,024 | $16,904,562 |
Coca-Cola Consolidated, Inc. | 610 | 127,203 |
Keurig Dr Pepper, Inc. | 27,169 | 659,392 |
PepsiCo, Inc. | 142,227 | 17,081,463 |
$34,772,620 | ||
Biotechnology — 3.9% | ||
AbbVie, Inc. | 162,160 | $12,354,970 |
ACADIA Pharmaceuticals, Inc.(1)(2) | 16,716 | 706,251 |
Alexion Pharmaceuticals, Inc.(1) | 28,939 | 2,598,433 |
Alkermes PLC(1) | 20,462 | 295,062 |
Allogene Therapeutics, Inc.(1)(2) | 6,714 | 130,520 |
Alnylam Pharmaceuticals, Inc.(1)(2) | 14,929 | 1,625,022 |
Amgen, Inc. | 65,765 | 13,332,538 |
Amicus Therapeutics, Inc.(1) | 29,607 | 273,569 |
Biogen, Inc.(1) | 22,661 | 7,169,487 |
BioMarin Pharmaceutical, Inc.(1) | 23,083 | 1,950,514 |
Bluebird Bio, Inc.(1)(2) | 6,542 | 300,670 |
Blueprint Medicines Corp.(1) | 6,519 | 381,231 |
Exact Sciences Corp.(1) | 19,851 | 1,151,358 |
Exelixis, Inc.(1) | 39,788 | 685,149 |
FibroGen, Inc.(1) | 8,326 | 289,329 |
Gilead Sciences, Inc. | 154,803 | 11,573,072 |
Global Blood Therapeutics, Inc.(1)(2) | 7,030 | 359,163 |
Incyte Corp.(1) | 22,667 | 1,659,904 |
Ionis Pharmaceuticals, Inc.(1) | 16,092 | 760,830 |
Neurocrine Biosciences, Inc.(1) | 11,723 | 1,014,626 |
Regeneron Pharmaceuticals, Inc.(1) | 10,349 | 5,053,313 |
Sage Therapeutics, Inc.(1) | 6,608 | 189,782 |
Sarepta Therapeutics, Inc.(1) | 10,333 | 1,010,774 |
Seattle Genetics, Inc.(1) | 14,500 | 1,673,010 |
Ultragenyx Pharmaceutical, Inc.(1) | 6,228 | 276,710 |
United Therapeutics Corp.(1) | 5,771 | 547,235 |
Vertex Pharmaceuticals, Inc.(1) | 33,698 | 8,018,439 |
$75,380,961 |
Security | Shares | Value |
Building Products — 0.6% | ||
Allegion PLC | 14,629 | $ 1,346,161 |
Armstrong World Industries, Inc. | 4,063 | 322,683 |
Fortune Brands Home & Security, Inc. | 13,324 | 576,263 |
Johnson Controls International PLC | 125,148 | 3,373,990 |
Masco Corp. | 24,577 | 849,627 |
Owens Corning | 26,943 | 1,045,658 |
Trane Technologies PLC | 38,957 | 3,217,459 |
Trex Co., Inc.(1) | 5,515 | 441,972 |
$11,173,813 | ||
Capital Markets — 3.6% | ||
Affiliated Managers Group, Inc. | 5,309 | $313,974 |
Ameriprise Financial, Inc. | 14,492 | 1,485,140 |
Ares Management Corp., Class A | 9,291 | 287,371 |
Bank of New York Mellon Corp. (The) | 103,217 | 3,476,349 |
BlackRock, Inc. | 13,476 | 5,929,036 |
Cboe Global Markets, Inc. | 12,928 | 1,153,824 |
Charles Schwab Corp. (The) | 132,418 | 4,451,893 |
CME Group, Inc. | 40,663 | 7,031,039 |
E*Trade Financial Corp. | 24,031 | 824,744 |
Evercore, Inc., Class A | 4,026 | 185,438 |
FactSet Research Systems, Inc. | 3,759 | 979,896 |
Franklin Resources, Inc. | 33,300 | 555,777 |
Goldman Sachs Group, Inc. (The) | 37,231 | 5,755,540 |
Houlihan Lokey, Inc., Class A | 5,313 | 276,914 |
Interactive Brokers Group, Inc., Class A | 8,582 | 370,485 |
Intercontinental Exchange, Inc. | 62,175 | 5,020,631 |
Invesco, Ltd. | 40,979 | 372,089 |
KKR & Co., Inc., Class A | 61,832 | 1,451,197 |
Lazard, Ltd., Class A | 13,096 | 308,542 |
Legg Mason, Inc. | 10,994 | 537,057 |
LPL Financial Holdings, Inc. | 8,181 | 445,292 |
MarketAxess Holdings, Inc. | 4,235 | 1,408,434 |
Moody's Corp. | 17,189 | 3,635,473 |
Morgan Stanley | 137,824 | 4,686,016 |
Morningstar, Inc. | 2,333 | 271,211 |
MSCI, Inc. | 8,933 | 2,581,280 |
Nasdaq, Inc. | 12,690 | 1,204,915 |
Northern Trust Corp. | 23,046 | 1,739,051 |
Raymond James Financial, Inc. | 16,236 | 1,026,115 |
S&P Global, Inc. | 24,941 | 6,111,792 |
SEI Investments Co. | 14,768 | 684,349 |
State Street Corp. | 39,677 | 2,113,594 |
Stifel Financial Corp. | 6,656 | 274,760 |
T. Rowe Price Group, Inc. | 26,232 | 2,561,555 |
TD Ameritrade Holding Corp. | 30,149 | 1,044,964 |
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Security | Shares | Value |
Capital Markets (continued) | ||
Virtu Financial, Inc., Class A | 8,078 | $ 168,184 |
$ 70,723,921 | ||
Chemicals — 1.7% | ||
Air Products & Chemicals, Inc. | 33,139 | $ 6,614,876 |
Ashland Global Holdings, Inc. | 9,807 | 491,036 |
Axalta Coating Systems, Ltd.(1) | 34,588 | 597,335 |
Celanese Corp. | 19,455 | 1,427,802 |
Eastman Chemical Co. | 21,182 | 986,658 |
Ecolab, Inc. | 39,140 | 6,099,186 |
FMC Corp. | 20,543 | 1,678,158 |
Ingevity Corp.(1) | 6,926 | 243,795 |
International Flavors & Fragrances, Inc. | 17,079 | 1,743,424 |
LyondellBasell Industries NV, Class A | 43,233 | 2,145,654 |
Mosaic Co. (The) | 56,316 | 609,339 |
PPG Industries, Inc. | 39,018 | 3,261,905 |
Sensient Technologies Corp. | 7,320 | 318,493 |
Sherwin-Williams Co. (The) | 13,294 | 6,108,859 |
WR Grace & Co. | 8,648 | 307,869 |
$32,634,389 | ||
Commercial Services & Supplies — 0.7% | ||
ADT, Inc. | 16,799 | $72,572 |
Cintas Corp. | 8,533 | 1,478,086 |
Copart, Inc.(1) | 18,364 | 1,258,301 |
IAA, Inc.(1) | 16,272 | 487,509 |
KAR Auction Services, Inc. | 11,506 | 138,072 |
MSA Safety, Inc. | 5,497 | 556,296 |
Republic Services, Inc. | 45,058 | 3,382,054 |
Tetra Tech, Inc. | 11,312 | 798,854 |
UniFirst Corp. | 1,093 | 165,141 |
Waste Management, Inc. | 65,620 | 6,073,787 |
$14,410,672 | ||
Communications Equipment — 1.2% | ||
Arista Networks, Inc.(1) | 5,548 | $1,123,747 |
Ciena Corp.(1) | 16,442 | 654,556 |
Cisco Systems, Inc. | 428,149 | 16,830,537 |
CommScope Holding Co., Inc.(1) | 20,676 | 188,358 |
EchoStar Corp., Class A(1) | 4,037 | 129,063 |
F5 Networks, Inc.(1) | 6,025 | 642,446 |
Juniper Networks, Inc. | 34,949 | 668,924 |
Lumentum Holdings, Inc.(1) | 6,598 | 486,273 |
Motorola Solutions, Inc. | 16,976 | 2,256,450 |
ViaSat, Inc.(1) | 5,469 | 196,446 |
Security | Shares | Value |
Communications Equipment (continued) | ||
Viavi Solutions, Inc.(1) | 26,133 | $ 292,951 |
$ 23,469,751 | ||
Construction & Engineering — 0.1% | ||
EMCOR Group, Inc. | 10,517 | $ 644,902 |
MasTec, Inc.(1) | 10,852 | 355,186 |
Quanta Services, Inc. | 30,376 | 963,831 |
$ 1,963,919 | ||
Consumer Finance — 0.7% | ||
Ally Financial, Inc. | 40,473 | $584,026 |
American Express Co. | 76,234 | 6,526,393 |
Capital One Financial Corp. | 51,727 | 2,608,075 |
Credit Acceptance Corp.(1) | 1,434 | 366,660 |
Discover Financial Services | 35,884 | 1,279,982 |
FirstCash, Inc. | 4,396 | 315,369 |
LendingTree, Inc.(1) | 742 | 136,075 |
OneMain Holdings, Inc. | 8,601 | 164,451 |
SLM Corp. | 48,615 | 349,542 |
Synchrony Financial | 70,535 | 1,134,908 |
$13,465,481 | ||
Containers & Packaging — 0.6% | ||
AptarGroup, Inc. | 10,511 | $1,046,265 |
Ardagh Group S.A. | 2,911 | 34,524 |
Avery Dennison Corp. | 13,639 | 1,389,405 |
Ball Corp. | 55,390 | 3,581,517 |
Berry Global Group, Inc.(1) | 22,530 | 759,486 |
Crown Holdings, Inc.(1) | 21,320 | 1,237,413 |
Packaging Corp. of America | 15,380 | 1,335,445 |
Silgan Holdings, Inc. | 11,724 | 340,231 |
Sonoco Products Co. | 17,050 | 790,268 |
WestRock Co. | 42,077 | 1,189,096 |
$11,703,650 | ||
Distributors — 0.1% | ||
Genuine Parts Co. | 14,308 | $963,358 |
LKQ Corp.(1) | 28,044 | 575,182 |
Pool Corp. | 3,768 | 741,429 |
$2,279,969 | ||
Diversified Consumer Services — 0.2% | ||
Bright Horizons Family Solutions, Inc.(1) | 6,742 | $687,684 |
Chegg, Inc.(1) | 12,370 | 442,599 |
frontdoor, Inc.(1) | 7,418 | 257,998 |
Graham Holdings Co., Class B | 360 | 122,821 |
Table of Contents
Security | Shares | Value |
Diversified Consumer Services (continued) | ||
Grand Canyon Education, Inc.(1) | 4,376 | $ 333,823 |
H&R Block, Inc. | 16,968 | 238,909 |
Laureate Education, Inc., Class A(1) | 11,854 | 124,586 |
Service Corp. International | 18,074 | 706,874 |
ServiceMaster Global Holdings, Inc.(1) | 15,248 | 411,696 |
Strategic Education, Inc. | 2,310 | 322,846 |
$ 3,649,836 | ||
Diversified Financial Services — 0.1% | ||
Equitable Holdings, Inc. | 50,991 | $736,820 |
Jefferies Financial Group, Inc. | 31,163 | 425,998 |
Voya Financial, Inc. | 14,284 | 579,216 |
$1,742,034 | ||
Diversified Telecommunication Services — 2.3% | ||
AT&T, Inc. | 699,506 | $20,390,600 |
CenturyLink, Inc. | 110,912 | 1,049,227 |
GCI Liberty, Inc., Class A(1) | 9,494 | 540,873 |
Iridium Communications, Inc.(1) | 8,118 | 181,275 |
Verizon Communications, Inc. | 410,357 | 22,048,482 |
Vonage Holdings Corp.(1) | 20,631 | 149,162 |
$44,359,619 | ||
Electric Utilities — 1.4% | ||
Alliant Energy Corp. | 52,190 | $2,520,255 |
Avangrid, Inc. | 12,302 | 538,582 |
Eversource Energy | 65,881 | 5,152,553 |
NextEra Energy, Inc. | 53,867 | 12,961,477 |
Portland General Electric Co. | 18,704 | 896,670 |
Xcel Energy, Inc. | 97,007 | 5,849,522 |
$27,919,059 | ||
Electrical Equipment — 1.0% | ||
Acuity Brands, Inc. | 6,339 | $542,999 |
AMETEK, Inc. | 39,371 | 2,835,499 |
Eaton Corp. PLC | 69,662 | 5,412,041 |
Emerson Electric Co. | 99,422 | 4,737,458 |
Generac Holdings, Inc.(1) | 10,022 | 933,750 |
GrafTech International, Ltd. | 11,166 | 90,668 |
Hubbell, Inc. | 8,338 | 956,702 |
nVent Electric PLC | 26,394 | 445,267 |
Regal Beloit Corp. | 6,137 | 386,324 |
Rockwell Automation, Inc. | 19,149 | 2,889,776 |
$19,230,484 |
Security | Shares | Value |
Electronic Equipment, Instruments & Components — 0.8% | ||
Amphenol Corp., Class A | 48,531 | $ 3,536,939 |
Arrow Electronics, Inc.(1) | 6,901 | 357,955 |
Avnet, Inc. | 7,362 | 184,786 |
CDW Corp. | 14,272 | 1,331,150 |
Corning, Inc. | 76,333 | 1,567,880 |
Dolby Laboratories, Inc., Class A | 6,538 | 354,425 |
FLIR Systems, Inc. | 12,533 | 399,677 |
IPG Photonics Corp.(1) | 3,804 | 419,505 |
Jabil, Inc. | 15,935 | 391,682 |
Keysight Technologies, Inc.(1) | 30,021 | 2,512,157 |
National Instruments Corp. | 12,111 | 400,632 |
Novanta, Inc.(1) | 4,972 | 397,163 |
SYNNEX Corp. | 3,656 | 267,254 |
Tech Data Corp.(1) | 3,339 | 436,908 |
Trimble, Inc.(1) | 39,732 | 1,264,670 |
Zebra Technologies Corp., Class A(1) | 5,244 | 962,799 |
$14,785,582 | ||
Energy Equipment & Services — 0.1% | ||
Baker Hughes Co. | 67,979 | $713,780 |
National Oilwell Varco, Inc. | 97,068 | 954,178 |
$1,667,958 | ||
Entertainment — 2.3% | ||
Activision Blizzard, Inc. | 78,226 | $4,652,883 |
Cinemark Holdings, Inc. | 11,916 | 121,424 |
Electronic Arts, Inc.(1) | 29,341 | 2,939,088 |
Liberty Media Corp-Liberty Formula One, Series A(1) | 3,959 | 102,221 |
Lions Gate Entertainment Corp., Class A(1) | 17,708 | 107,665 |
Live Nation Entertainment, Inc.(1) | 12,666 | 575,796 |
Madison Square Garden Co. (The), Class A(1) | 1,503 | 317,749 |
Netflix, Inc.(1) | 42,958 | 16,130,729 |
Roku, Inc.(1) | 8,872 | 776,123 |
Take-Two Interactive Software, Inc.(1) | 11,325 | 1,343,258 |
Walt Disney Co. (The) | 178,776 | 17,269,762 |
World Wrestling Entertainment, Inc., Class A(2) | 4,389 | 148,919 |
Zynga, Inc., Class A(1) | 93,684 | 641,735 |
$45,127,352 | ||
Food & Staples Retailing — 1.8% | ||
BJ's Wholesale Club Holdings, Inc.(1) | 10,312 | $262,647 |
Casey's General Stores, Inc. | 5,086 | 673,844 |
Costco Wholesale Corp. | 40,920 | 11,667,520 |
Kroger Co. (The) | 106,914 | 3,220,250 |
Performance Food Group Co.(1) | 13,888 | 343,311 |
Sysco Corp. | 71,745 | 3,273,724 |
Table of Contents
Security | Shares | Value |
Food & Staples Retailing (continued) | ||
US Foods Holding Corp.(1) | 29,592 | $ 524,074 |
Walmart, Inc. | 129,765 | 14,743,899 |
$ 34,709,269 | ||
Food Products — 1.8% | ||
Bunge, Ltd. | 19,435 | $ 797,418 |
Campbell Soup Co. | 23,606 | 1,089,653 |
Conagra Brands, Inc. | 65,912 | 1,933,858 |
Darling Ingredients, Inc.(1) | 20,943 | 401,477 |
Flowers Foods, Inc. | 25,976 | 533,028 |
General Mills, Inc. | 83,306 | 4,396,058 |
Hershey Co. (The) | 20,430 | 2,706,975 |
Hormel Foods Corp.(2) | 37,881 | 1,766,770 |
Ingredion, Inc. | 9,167 | 692,109 |
J&J Snack Foods Corp. | 2,391 | 289,311 |
JM Smucker Co. (The) | 15,373 | 1,706,403 |
Kellogg Co. | 33,327 | 1,999,287 |
Kraft Heinz Co. (The) | 86,369 | 2,136,769 |
Lamb Weston Holdings, Inc. | 19,931 | 1,138,060 |
Lancaster Colony Corp. | 2,069 | 299,260 |
McCormick & Co., Inc. | 17,875 | 2,524,129 |
Mondelez International, Inc., Class A | 182,666 | 9,147,913 |
Post Holdings, Inc.(1) | 8,789 | 729,223 |
TreeHouse Foods, Inc.(1) | 6,563 | 289,756 |
$34,577,457 | ||
Gas Utilities — 0.2% | ||
New Jersey Resources Corp. | 18,146 | $616,419 |
ONE Gas, Inc. | 10,327 | 863,544 |
Southwest Gas Holdings, Inc. | 10,650 | 740,814 |
Spire, Inc. | 10,941 | 814,886 |
UGI Corp. | 43,242 | 1,153,264 |
$4,188,927 | ||
Health Care Equipment & Supplies — 4.4% | ||
Abbott Laboratories | 189,217 | $14,931,113 |
ABIOMED, Inc.(1) | 5,678 | 824,219 |
Align Technology, Inc.(1) | 9,238 | 1,606,950 |
Baxter International, Inc. | 65,276 | 5,299,758 |
Becton, Dickinson and Co. | 34,459 | 7,917,644 |
Boston Scientific Corp.(1) | 178,411 | 5,821,551 |
Cantel Medical Corp.(2) | 4,075 | 146,293 |
Cooper Cos., Inc. (The) | 7,010 | 1,932,447 |
Danaher Corp. | 74,610 | 10,326,770 |
DENTSPLY SIRONA, Inc. | 28,492 | 1,106,344 |
DexCom, Inc.(1) | 11,764 | 3,167,692 |
Security | Shares | Value |
Health Care Equipment & Supplies (continued) | ||
Edwards Lifesciences Corp.(1) | 26,553 | $ 5,008,427 |
Globus Medical, Inc., Class A(1) | 8,286 | 352,404 |
Haemonetics Corp.(1) | 6,660 | 663,736 |
Hill-Rom Holdings, Inc. | 8,666 | 871,800 |
Hologic, Inc.(1) | 34,064 | 1,195,646 |
ICU Medical, Inc.(1) | 2,496 | 503,618 |
IDEXX Laboratories, Inc.(1) | 10,727 | 2,598,509 |
Insulet Corp.(1) | 8,467 | 1,402,813 |
Integra LifeSciences Holdings Corp.(1) | 9,182 | 410,160 |
Intuitive Surgical, Inc.(1) | 14,689 | 7,274,140 |
Masimo Corp.(1) | 6,809 | 1,206,010 |
Merit Medical Systems, Inc.(1) | 5,512 | 172,250 |
Neogen Corp.(1) | 6,900 | 462,231 |
Novocure, Ltd.(1) | 9,387 | 632,121 |
NuVasive, Inc.(1) | 5,646 | 286,026 |
Penumbra, Inc.(1) | 3,810 | 614,667 |
ResMed, Inc. | 18,277 | 2,692,019 |
STERIS PLC | 10,679 | 1,494,740 |
Tandem Diabetes Care, Inc.(1) | 6,298 | 405,276 |
Teleflex, Inc. | 5,826 | 1,706,202 |
Varian Medical Systems, Inc.(1) | 12,235 | 1,256,045 |
West Pharmaceutical Services, Inc. | 8,981 | 1,367,357 |
$85,656,978 | ||
Health Care Providers & Services — 2.1% | ||
Amedisys, Inc.(1) | 3,963 | $727,369 |
Anthem, Inc. | 32,043 | 7,275,043 |
Centene Corp.(1) | 73,898 | 4,390,280 |
Chemed Corp. | 2,008 | 869,866 |
Covetrus, Inc.(1)(2) | 18,431 | 150,028 |
CVS Health Corp. | 164,942 | 9,786,009 |
DaVita, Inc.(1) | 12,430 | 945,426 |
Encompass Health Corp. | 12,962 | 829,957 |
Ensign Group, Inc. (The) | 7,953 | 299,112 |
Guardant Health, Inc.(1) | 4,401 | 306,310 |
HCA Healthcare, Inc. | 34,367 | 3,087,875 |
HealthEquity, Inc.(1) | 7,056 | 356,963 |
Henry Schein, Inc.(1) | 17,653 | 891,829 |
Humana, Inc. | 17,289 | 5,429,092 |
Laboratory Corp. of America Holdings(1) | 12,368 | 1,563,191 |
LHC Group, Inc.(1) | 3,446 | 483,129 |
Molina Healthcare, Inc.(1) | 7,980 | 1,114,886 |
Premier, Inc., Class A(1) | 10,424 | 341,073 |
Quest Diagnostics, Inc. | 16,996 | 1,364,779 |
$40,212,217 |
Table of Contents
Security | Shares | Value |
Health Care Technology — 0.3% | ||
Cerner Corp. | 29,892 | $ 1,882,897 |
Omnicell, Inc.(1) | 3,491 | 228,940 |
Teladoc Health, Inc.(1) | 9,232 | 1,431,052 |
Veeva Systems, Inc., Class A(1) | 12,997 | 2,032,341 |
$ 5,575,230 | ||
Hotels, Restaurants & Leisure — 1.5% | ||
Aramark | 32,018 | $ 639,400 |
Chipotle Mexican Grill, Inc.(1) | 3,767 | 2,465,125 |
Choice Hotels International, Inc. | 3,028 | 185,465 |
Cracker Barrel Old Country Store, Inc.(2) | 2,829 | 235,429 |
Darden Restaurants, Inc. | 16,379 | 892,000 |
Domino's Pizza, Inc. | 5,463 | 1,770,394 |
Dunkin' Brands Group, Inc. | 11,363 | 603,375 |
Extended Stay America, Inc. | 20,639 | 150,871 |
Hilton Worldwide Holdings, Inc. | 27,237 | 1,858,653 |
Hyatt Hotels Corp., Class A | 3,935 | 188,487 |
Marriott International, Inc., Class A | 27,483 | 2,056,003 |
Marriott Vacations Worldwide Corp. | 3,026 | 168,185 |
Planet Fitness, Inc., Class A(1) | 7,853 | 382,441 |
Royal Caribbean Cruises, Ltd. | 17,867 | 574,781 |
Six Flags Entertainment Corp. | 8,945 | 112,170 |
Starbucks Corp. | 142,287 | 9,353,947 |
Texas Roadhouse, Inc. | 9,287 | 383,553 |
Vail Resorts, Inc. | 3,822 | 564,548 |
Wendy's Co. (The) | 24,153 | 359,397 |
Wyndham Destinations, Inc. | 9,867 | 214,114 |
Wyndham Hotels & Resorts, Inc. | 8,011 | 252,427 |
Yum China Holdings, Inc. | 49,193 | 2,097,098 |
Yum! Brands, Inc. | 42,769 | 2,930,960 |
$28,438,823 | ||
Household Durables — 0.2% | ||
Helen of Troy, Ltd.(1) | 2,654 | $382,256 |
Leggett & Platt, Inc. | 10,819 | 288,651 |
Mohawk Industries, Inc.(1) | 4,997 | 380,971 |
Newell Brands, Inc. | 30,891 | 410,232 |
NVR, Inc.(1) | 714 | 1,834,345 |
Tempur Sealy International, Inc.(1) | 4,461 | 194,990 |
Whirlpool Corp. | 5,757 | 493,951 |
$3,985,396 | ||
Household Products — 2.0% | ||
Church & Dwight Co., Inc. | 22,366 | $1,435,450 |
Clorox Co. (The) | 11,446 | 1,983,019 |
Colgate-Palmolive Co. | 78,814 | 5,230,097 |
Security | Shares | Value |
Household Products (continued) | ||
Energizer Holdings, Inc. | 4,550 | $ 137,638 |
Kimberly-Clark Corp. | 31,982 | 4,089,538 |
Procter & Gamble Co. (The) | 231,418 | 25,455,980 |
$ 38,331,722 | ||
Independent Power and Renewable Electricity Producers — 0.2% | ||
AES Corp. (The) | 147,526 | $ 2,006,353 |
Clearway Energy, Inc., Class C | 22,211 | 417,567 |
Ormat Technologies, Inc. | 9,336 | 631,674 |
TerraForm Power, Inc., Class A | 45,819 | 722,566 |
$3,778,160 | ||
Industrial Conglomerates — 0.9% | ||
3M Co. | 71,293 | $9,732,208 |
Carlisle Cos., Inc. | 13,636 | 1,708,318 |
Roper Technologies, Inc. | 17,051 | 5,316,672 |
$16,757,198 | ||
Insurance — 2.5% | ||
Aflac, Inc. | 80,482 | $2,755,704 |
Alleghany Corp. | 1,516 | 837,363 |
Allstate Corp. (The) | 36,489 | 3,347,136 |
American Financial Group, Inc. | 8,829 | 618,736 |
American International Group, Inc. | 101,093 | 2,451,505 |
American National Insurance Co. | 964 | 79,414 |
Arch Capital Group, Ltd.(1) | 44,606 | 1,269,487 |
Arthur J. Gallagher & Co. | 18,473 | 1,505,734 |
Assurant, Inc. | 6,385 | 664,615 |
Assured Guaranty, Ltd. | 10,805 | 278,661 |
Athene Holding, Ltd., Class A(1) | 13,907 | 345,172 |
Axis Capital Holdings, Ltd. | 9,563 | 369,610 |
Brighthouse Financial, Inc.(1) | 11,523 | 278,511 |
Brown & Brown, Inc. | 24,244 | 878,118 |
Cincinnati Financial Corp. | 17,356 | 1,309,510 |
Enstar Group, Ltd.(1) | 2,089 | 332,255 |
Erie Indemnity Co., Class A | 3,640 | 539,594 |
Everest Re Group, Ltd. | 4,636 | 892,059 |
Fidelity National Financial, Inc. | 30,034 | 747,246 |
First American Financial Corp. | 13,081 | 554,765 |
Globe Life, Inc. | 13,850 | 996,785 |
Hanover Insurance Group, Inc. (The) | 4,418 | 400,182 |
Hartford Financial Services Group, Inc. (The) | 40,730 | 1,435,325 |
Kemper Corp. | 8,396 | 624,411 |
Lincoln National Corp. | 22,048 | 580,303 |
Marsh & McLennan Cos., Inc. | 51,550 | 4,457,013 |
Mercury General Corp. | 2,997 | 122,038 |
Table of Contents
Security | Shares | Value |
Insurance (continued) | ||
MetLife, Inc. | 92,050 | $ 2,813,968 |
Old Republic International Corp. | 31,697 | 483,379 |
Primerica, Inc. | 4,092 | 362,060 |
Principal Financial Group, Inc. | 30,908 | 968,657 |
Progressive Corp. (The) | 67,582 | 4,990,255 |
Prudential Financial, Inc. | 46,639 | 2,431,757 |
Reinsurance Group of America, Inc. | 6,483 | 545,480 |
RenaissanceRe Holdings, Ltd. | 4,888 | 729,876 |
RLI Corp. | 4,743 | 417,052 |
Selective Insurance Group, Inc. | 6,278 | 312,017 |
Travelers Cos., Inc. (The) | 30,500 | 3,030,175 |
Unum Group | 20,603 | 309,251 |
White Mountains Insurance Group, Ltd. | 372 | 338,520 |
Willis Towers Watson PLC | 13,146 | 2,232,848 |
$48,636,547 | ||
Interactive Media & Services — 3.3% | ||
Alphabet, Inc., Class A(1) | 52,530 | $61,037,233 |
ANGI Homeservices, Inc., Class A(1)(2) | 7,243 | 38,026 |
Cargurus, Inc.(1) | 6,939 | 131,425 |
IAC/InterActiveCorp.(1) | 7,836 | 1,404,446 |
Match Group, Inc.(1) | 4,956 | 327,294 |
TripAdvisor, Inc. | 7,427 | 129,156 |
Twitter, Inc.(1) | 73,033 | 1,793,690 |
$64,861,270 | ||
Internet & Direct Marketing Retail — 4.2% | ||
Amazon.com, Inc.(1) | 37,261 | $72,648,517 |
Booking Holdings, Inc.(1) | 4,061 | 5,463,344 |
eBay, Inc. | 69,068 | 2,076,184 |
Etsy, Inc.(1) | 10,195 | 391,896 |
Expedia Group, Inc. | 13,839 | 778,720 |
GrubHub, Inc.(1) | 12,468 | 507,822 |
Qurate Retail, Inc., Class A(1) | 38,923 | 237,625 |
Wayfair, Inc., Class A(1)(2) | 5,140 | 274,682 |
$82,378,790 | ||
IT Services — 6.2% | ||
Accenture PLC, Class A | 63,546 | $10,374,520 |
Akamai Technologies, Inc.(1) | 15,746 | 1,440,602 |
Alliance Data Systems Corp. | 5,210 | 175,316 |
Amdocs, Ltd. | 13,993 | 769,195 |
Automatic Data Processing, Inc. | 43,212 | 5,906,216 |
Black Knight, Inc.(1) | 14,036 | 814,930 |
Booz Allen Hamilton Holding Corp., Class A | 13,690 | 939,682 |
Broadridge Financial Solutions, Inc. | 11,421 | 1,083,053 |
Security | Shares | Value |
IT Services (continued) | ||
Cognizant Technology Solutions Corp., Class A | 54,587 | $ 2,536,658 |
DXC Technology Co. | 25,378 | 331,183 |
EPAM Systems, Inc.(1) | 5,359 | 994,952 |
Fidelity National Information Services, Inc. | 61,626 | 7,496,187 |
Fiserv, Inc.(1) | 56,537 | 5,370,450 |
Gartner, Inc.(1) | 8,936 | 889,757 |
Genpact, Ltd. | 18,763 | 547,880 |
GoDaddy, Inc., Class A(1) | 17,119 | 977,666 |
International Business Machines Corp. | 89,004 | 9,873,214 |
Jack Henry & Associates, Inc. | 7,510 | 1,165,852 |
LiveRamp Holdings, Inc.(1) | 5,401 | 177,801 |
MasterCard, Inc., Class A | 85,911 | 20,752,661 |
MAXIMUS, Inc. | 5,957 | 346,697 |
MongoDB, Inc.(1)(2) | 4,545 | 620,574 |
Okta, Inc.(1) | 10,738 | 1,312,828 |
Paychex, Inc. | 31,354 | 1,972,794 |
PayPal Holdings, Inc.(1) | 123,683 | 11,841,410 |
Perspecta, Inc. | 11,812 | 215,451 |
Sabre Corp. | 29,734 | 176,323 |
Science Applications International Corp. | 5,196 | 387,777 |
Square, Inc., Class A(1) | 36,915 | 1,933,608 |
Twilio, Inc., Class A(1) | 13,190 | 1,180,373 |
VeriSign, Inc.(1) | 10,617 | 1,912,016 |
Visa, Inc., Class A | 162,022 | 26,104,985 |
WEX, Inc.(1) | 4,249 | 444,233 |
$121,066,844 | ||
Leisure Products — 0.1% | ||
Brunswick Corp. | 13,999 | $495,145 |
Hasbro, Inc. | 11,800 | 844,290 |
Mattel, Inc.(1) | 27,805 | 244,962 |
$1,584,397 | ||
Life Sciences Tools & Services — 1.7% | ||
Agilent Technologies, Inc. | 39,337 | $2,817,316 |
Bio-Rad Laboratories, Inc., Class A(1) | 2,709 | 949,667 |
Bio-Techne Corp. | 5,320 | 1,008,778 |
Bruker Corp. | 11,873 | 425,766 |
Charles River Laboratories International, Inc.(1) | 5,941 | 749,814 |
Illumina, Inc.(1) | 18,823 | 5,140,938 |
IQVIA Holdings, Inc.(1) | 23,492 | 2,533,847 |
Mettler-Toledo International, Inc.(1) | 2,956 | 2,041,147 |
PerkinElmer, Inc. | 13,328 | 1,003,332 |
PRA Health Sciences, Inc.(1) | 8,271 | 686,824 |
Repligen Corp.(1) | 6,267 | 605,016 |
Syneos Health, Inc.(1) | 6,861 | 270,461 |
Table of Contents
Security | Shares | Value |
Life Sciences Tools & Services (continued) | ||
Thermo Fisher Scientific, Inc. | 44,643 | $ 12,660,755 |
Waters Corp.(1) | 7,745 | 1,409,977 |
$ 32,303,638 | ||
Machinery — 3.0% | ||
AGCO Corp. | 11,069 | $ 523,010 |
Allison Transmission Holdings, Inc. | 18,306 | 596,959 |
Caterpillar, Inc. | 73,800 | 8,563,752 |
CNH Industrial NV | 154,626 | 867,452 |
Colfax Corp.(1) | 13,893 | 275,081 |
Crane Co. | 9,033 | 444,243 |
Cummins, Inc. | 24,473 | 3,311,686 |
Deere & Co. | 47,025 | 6,496,974 |
Donaldson Co., Inc. | 19,512 | 753,749 |
Dover Corp. | 24,081 | 2,021,359 |
Flowserve Corp. | 20,010 | 478,039 |
Fortive Corp. | 47,813 | 2,638,799 |
Gates Industrial Corp. PLC(1) | 14,308 | 105,593 |
Graco, Inc. | 26,487 | 1,290,711 |
IDEX Corp. | 12,113 | 1,672,926 |
Illinois Tool Works, Inc. | 46,072 | 6,547,753 |
Ingersoll Rand, Inc.(1) | 21,266 | 527,397 |
ITT, Inc. | 14,928 | 677,134 |
John Bean Technologies Corp. | 5,280 | 392,146 |
Lincoln Electric Holdings, Inc. | 9,624 | 664,056 |
Middleby Corp. (The)(1) | 9,329 | 530,633 |
Navistar International Corp.(1) | 11,202 | 184,721 |
Nordson Corp. | 8,279 | 1,118,245 |
Oshkosh Corp. | 10,420 | 670,319 |
PACCAR, Inc. | 56,359 | 3,445,226 |
Parker-Hannifin Corp. | 20,638 | 2,677,368 |
Pentair PLC | 26,291 | 782,420 |
RBC Bearings, Inc.(1) | 4,101 | 462,552 |
Rexnord Corp. | 18,974 | 430,141 |
Snap-on, Inc. | 5,065 | 551,173 |
Stanley Black & Decker, Inc. | 24,938 | 2,493,800 |
Timken Co. (The) | 10,539 | 340,831 |
Toro Co. (The) | 17,702 | 1,152,223 |
WABCO Holdings, Inc.(1) | 8,027 | 1,084,046 |
Watts Water Technologies, Inc., Class A | 4,503 | 381,179 |
Westinghouse Air Brake Technologies Corp. | 29,907 | 1,439,424 |
Woodward, Inc. | 8,694 | 516,771 |
Xylem, Inc. | 29,476 | 1,919,772 |
$59,029,663 |
Security | Shares | Value |
Media — 1.6% | ||
Altice USA, Inc., Class A(1) | 32,985 | $ 735,236 |
AMC Networks, Inc., Class A(1) | 4,417 | 107,377 |
Cable One, Inc. | 449 | 738,160 |
Charter Communications, Inc., Class A(1) | 15,061 | 6,571,265 |
Comcast Corp., Class A | 451,400 | 15,519,132 |
Discovery, Inc., Class A(1) | 52,308 | 1,016,868 |
DISH Network Corp., Class A(1) | 22,131 | 442,399 |
Interpublic Group of Cos., Inc. (The) | 39,028 | 631,863 |
Liberty Broadband Corp., Class A(1) | 12,809 | 1,370,563 |
Liberty Latin America, Ltd., Class C(1) | 16,117 | 165,360 |
New York Times Co. (The), Class A | 15,762 | 484,051 |
Nexstar Media Group, Inc., Class A | 5,009 | 289,170 |
Omnicom Group, Inc. | 21,978 | 1,206,592 |
Sinclair Broadcast Group, Inc., Class A | 4,782 | 76,895 |
Sirius XM Holdings, Inc. | 120,411 | 594,830 |
TEGNA, Inc. | 24,447 | 265,494 |
ViacomCBS, Inc., Class B | 58,390 | 818,044 |
$31,033,299 | ||
Metals & Mining — 0.3% | ||
Nucor Corp. | 73,761 | $2,656,871 |
Reliance Steel & Aluminum Co. | 16,510 | 1,446,111 |
Steel Dynamics, Inc. | 51,697 | 1,165,251 |
$5,268,233 | ||
Multiline Retail — 0.4% | ||
Dollar General Corp. | 24,607 | $3,715,903 |
Kohl's Corp. | 13,802 | 201,371 |
Macy's, Inc.(2) | 28,142 | 138,177 |
Nordstrom, Inc. | 10,531 | 161,546 |
Ollie's Bargain Outlet Holdings, Inc.(1) | 6,247 | 289,486 |
Target Corp. | 47,265 | 4,394,227 |
$8,900,710 | ||
Multi-Utilities — 1.0% | ||
Ameren Corp. | 50,392 | $3,670,049 |
CenterPoint Energy, Inc. | 104,410 | 1,613,135 |
CMS Energy Corp. | 58,290 | 3,424,538 |
Consolidated Edison, Inc. | 68,888 | 5,373,264 |
Sempra Energy | 48,153 | 5,440,807 |
$19,521,793 | ||
Personal Products — 0.2% | ||
Coty, Inc., Class A | 22,406 | $115,615 |
Estee Lauder Cos., Inc. (The), Class A | 20,763 | 3,308,376 |
$3,423,991 |
Table of Contents
Security | Shares | Value |
Pharmaceuticals — 3.9% | ||
Bristol-Myers Squibb Co. | 244,651 | $ 13,636,847 |
Catalent, Inc.(1) | 21,805 | 1,132,770 |
Elanco Animal Health, Inc.(1) | 51,087 | 1,143,838 |
Eli Lilly & Co. | 96,525 | 13,389,948 |
Horizon Therapeutics PLC(1) | 24,262 | 718,640 |
Jazz Pharmaceuticals PLC(1) | 7,177 | 715,834 |
Merck & Co., Inc. | 255,030 | 19,622,008 |
Nektar Therapeutics(1) | 22,289 | 397,859 |
Perrigo Co. PLC | 17,537 | 843,354 |
Pfizer, Inc. | 561,245 | 18,319,037 |
Zoetis, Inc. | 60,198 | 7,084,702 |
$77,004,837 | ||
Professional Services — 0.5% | ||
CoreLogic, Inc. | 8,647 | $264,079 |
CoStar Group, Inc.(1) | 3,708 | 2,177,375 |
Exponent, Inc. | 5,782 | 415,784 |
FTI Consulting, Inc.(1) | 3,738 | 447,700 |
IHS Markit, Ltd. | 40,832 | 2,449,920 |
Insperity, Inc. | 4,680 | 174,564 |
ManpowerGroup, Inc. | 5,287 | 280,158 |
Nielsen Holdings PLC | 34,224 | 429,169 |
Robert Half International, Inc. | 11,371 | 429,255 |
TransUnion | 18,773 | 1,242,397 |
TriNet Group, Inc.(1) | 3,026 | 113,959 |
Verisk Analytics, Inc. | 16,583 | 2,311,339 |
$10,735,699 | ||
Real Estate Management & Development — 0.2% | ||
CBRE Group, Inc., Class A(1) | 70,087 | $2,642,981 |
Jones Lang LaSalle, Inc. | 10,724 | 1,082,909 |
$3,725,890 | ||
Road & Rail — 1.0% | ||
AMERCO | 974 | $282,996 |
J.B. Hunt Transport Services, Inc. | 8,786 | 810,333 |
Kansas City Southern | 10,928 | 1,389,823 |
Knight-Swift Transportation Holdings, Inc. | 14,062 | 461,233 |
Landstar System, Inc. | 4,999 | 479,204 |
Norfolk Southern Corp. | 28,914 | 4,221,444 |
Old Dominion Freight Line, Inc. | 12,563 | 1,648,954 |
Schneider National, Inc., Class B | 3,803 | 73,550 |
Union Pacific Corp. | 77,544 | 10,936,806 |
$20,304,343 |
Security | Shares | Value |
Semiconductors & Semiconductor Equipment — 4.9% | ||
Advanced Micro Devices, Inc.(1) | 112,080 | $ 5,097,398 |
Analog Devices, Inc. | 37,218 | 3,336,594 |
Applied Materials, Inc. | 92,626 | 4,244,123 |
Broadcom, Inc. | 38,935 | 9,231,489 |
Cabot Microelectronics Corp. | 3,217 | 367,188 |
Cree, Inc.(1) | 9,371 | 332,296 |
Cypress Semiconductor Corp. | 36,717 | 856,240 |
Entegris, Inc. | 13,439 | 601,664 |
First Solar, Inc.(1) | 6,205 | 223,752 |
Intel Corp. | 420,610 | 22,763,413 |
KLA Corp. | 15,293 | 2,198,216 |
Lam Research Corp. | 14,294 | 3,430,560 |
Marvell Technology Group, Ltd. | 66,995 | 1,516,097 |
Maxim Integrated Products, Inc. | 26,642 | 1,295,068 |
Microchip Technology, Inc.(2) | 23,455 | 1,590,249 |
Micron Technology, Inc.(1) | 111,161 | 4,675,432 |
MKS Instruments, Inc. | 9,340 | 760,743 |
Monolithic Power Systems, Inc. | 3,813 | 638,525 |
NVIDIA Corp. | 58,617 | 15,451,441 |
ON Semiconductor Corp.(1) | 36,244 | 450,875 |
Qorvo, Inc.(1) | 11,615 | 936,518 |
Silicon Laboratories, Inc.(1) | 4,605 | 393,313 |
Skyworks Solutions, Inc. | 17,320 | 1,548,062 |
Teradyne, Inc. | 27,742 | 1,502,784 |
Texas Instruments, Inc. | 94,915 | 9,484,856 |
Universal Display Corp. | 4,538 | 598,018 |
Xilinx, Inc. | 24,846 | 1,936,497 |
$95,461,411 | ||
Software — 9.9% | ||
ACI Worldwide, Inc.(1) | 9,740 | $235,221 |
Adobe, Inc.(1) | 48,686 | 15,493,833 |
Alteryx, Inc., Class A(1) | 5,174 | 492,410 |
Anaplan, Inc.(1) | 7,774 | 235,241 |
ANSYS, Inc.(1) | 8,281 | 1,925,084 |
Appfolio, Inc., Class A(1)(2) | 1,712 | 189,946 |
Aspen Technology, Inc.(1) | 6,886 | 654,652 |
Autodesk, Inc.(1) | 22,146 | 3,456,991 |
Avalara, Inc.(1) | 7,349 | 548,235 |
Blackbaud, Inc. | 4,162 | 231,199 |
Blackline, Inc.(1) | 3,485 | 183,346 |
Cadence Design Systems, Inc.(1) | 28,091 | 1,855,130 |
CDK Global, Inc. | 12,284 | 403,529 |
Ceridian HCM Holding, Inc.(1) | 8,787 | 439,965 |
Citrix Systems, Inc. | 12,864 | 1,820,899 |
Cornerstone OnDemand, Inc.(1) | 6,072 | 192,786 |
Table of Contents
Security | Shares | Value |
Software (continued) | ||
Coupa Software, Inc.(1) | 6,238 | $ 871,636 |
DocuSign, Inc.(1) | 15,687 | 1,449,479 |
Dropbox, Inc., Class A(1) | 22,618 | 409,386 |
Elastic NV(1) | 2,680 | 149,571 |
Envestnet, Inc.(1) | 5,683 | 305,632 |
Fair Isaac Corp.(1) | 2,809 | 864,301 |
FireEye, Inc.(1) | 16,363 | 173,121 |
Five9, Inc.(1) | 6,126 | 468,394 |
Fortinet, Inc.(1) | 13,990 | 1,415,368 |
Guidewire Software, Inc.(1) | 7,502 | 594,984 |
HubSpot, Inc.(1) | 3,677 | 489,740 |
Intuit, Inc. | 25,070 | 5,766,100 |
j2 Global, Inc. | 4,847 | 362,798 |
LogMeIn, Inc. | 4,385 | 365,183 |
Manhattan Associates, Inc.(1) | 6,744 | 335,986 |
Microsoft Corp. | 649,902 | 102,496,044 |
New Relic, Inc.(1) | 5,313 | 245,673 |
NortonLifeLock, Inc. | 57,602 | 1,077,733 |
Nuance Communications, Inc.(1) | 29,869 | 501,202 |
Nutanix, Inc., Class A(1) | 16,036 | 253,369 |
Oracle Corp. | 209,657 | 10,132,723 |
Palo Alto Networks, Inc.(1) | 9,466 | 1,552,045 |
Paycom Software, Inc.(1) | 5,024 | 1,014,898 |
Paylocity Holding Corp.(1) | 3,001 | 265,048 |
Pegasystems, Inc. | 3,895 | 277,441 |
Pluralsight, Inc., Class A(1)(2) | 7,011 | 76,981 |
Proofpoint, Inc.(1) | 5,718 | 586,610 |
PTC, Inc.(1) | 9,542 | 584,066 |
Q2 Holdings, Inc.(1)(2) | 4,967 | 293,351 |
Qualys, Inc.(1) | 3,461 | 301,072 |
RealPage, Inc.(1) | 9,554 | 505,693 |
RingCentral, Inc., Class A(1) | 7,432 | 1,574,915 |
salesforce.com, Inc.(1) | 85,292 | 12,280,342 |
ServiceNow, Inc.(1) | 18,885 | 5,412,063 |
Smartsheet, Inc., Class A(1) | 10,481 | 435,066 |
SolarWinds Corp.(1) | 9,749 | 152,767 |
Splunk, Inc.(1) | 15,477 | 1,953,662 |
SS&C Technologies Holdings, Inc. | 22,539 | 987,659 |
Synopsys, Inc.(1) | 14,561 | 1,875,311 |
Teradata Corp.(1) | 8,463 | 173,407 |
Trade Desk, Inc. (The), Class A(1) | 4,028 | 777,404 |
Tyler Technologies, Inc.(1) | 3,766 | 1,116,845 |
Verint Systems, Inc.(1) | 7,164 | 308,052 |
VMware, Inc., Class A(1)(2) | 7,795 | 943,974 |
Workday, Inc., Class A(1) | 17,329 | 2,256,582 |
Zendesk, Inc.(1) | 11,256 | 720,497 |
Security | Shares | Value |
Software (continued) | ||
Zscaler, Inc.(1)(2) | 6,132 | $ 373,194 |
$ 193,885,835 | ||
Specialty Retail — 2.4% | ||
Aaron's, Inc. | 5,917 | $ 134,789 |
Advance Auto Parts, Inc. | 6,370 | 594,448 |
American Eagle Outfitters, Inc. | 11,161 | 88,730 |
AutoNation, Inc.(1) | 4,233 | 118,778 |
AutoZone, Inc.(1) | 2,198 | 1,859,508 |
Best Buy Co., Inc. | 21,342 | 1,216,494 |
Burlington Stores, Inc.(1) | 6,173 | 978,174 |
CarMax, Inc.(1) | 14,240 | 766,539 |
Dick's Sporting Goods, Inc. | 7,829 | 166,445 |
Five Below, Inc.(1) | 4,724 | 332,475 |
Floor & Decor Holdings, Inc., Class A(1) | 4,638 | 148,833 |
Foot Locker, Inc. | 9,575 | 211,129 |
Gap, Inc. (The) | 16,734 | 117,807 |
Home Depot, Inc. (The) | 101,377 | 18,928,100 |
L Brands, Inc. | 17,311 | 200,115 |
Lowe's Cos., Inc. | 72,894 | 6,272,529 |
O'Reilly Automotive, Inc.(1) | 6,929 | 2,085,975 |
Penske Automotive Group, Inc. | 4,680 | 131,040 |
Ross Stores, Inc. | 32,373 | 2,815,480 |
Tiffany & Co. | 11,029 | 1,428,255 |
TJX Cos., Inc. (The) | 112,470 | 5,377,191 |
Tractor Supply Co. | 10,995 | 929,627 |
Ulta Beauty, Inc.(1) | 4,940 | 867,958 |
Williams-Sonoma, Inc. | 7,909 | 336,291 |
$46,106,710 | ||
Technology Hardware, Storage & Peripherals — 5.4% | ||
Apple, Inc. | 379,334 | $96,460,843 |
Dell Technologies, Class C(1) | 27,732 | 1,096,801 |
Hewlett Packard Enterprise Co. | 126,232 | 1,225,713 |
HP, Inc. | 142,795 | 2,478,921 |
NCR Corp.(1) | 10,932 | 193,496 |
NetApp, Inc. | 23,361 | 973,920 |
Pure Storage, Inc., Class A(1) | 19,123 | 235,213 |
Seagate Technology PLC | 26,348 | 1,285,782 |
Western Digital Corp. | 29,902 | 1,244,521 |
Xerox Holdings Corp. | 19,442 | 368,232 |
$105,563,442 | ||
Textiles, Apparel & Luxury Goods — 0.7% | ||
Capri Holdings, Ltd.(1) | 13,085 | $141,187 |
Carter's, Inc. | 4,605 | 302,687 |
Table of Contents
Security | Shares | Value |
Textiles, Apparel & Luxury Goods (continued) | ||
Columbia Sportswear Co. | 2,163 | $ 150,912 |
Deckers Outdoor Corp.(1) | 2,792 | 374,128 |
Hanesbrands, Inc.(2) | 29,803 | 234,550 |
lululemon Athletica, Inc.(1) | 10,739 | 2,035,577 |
NIKE, Inc., Class B | 92,555 | 7,658,001 |
PVH Corp. | 5,664 | 213,193 |
Ralph Lauren Corp., Class A | 4,242 | 283,493 |
Skechers U.S.A., Inc., Class A(1) | 10,572 | 250,979 |
Tapestry, Inc. | 30,789 | 398,718 |
Under Armour, Inc., Class A(1)(2) | 30,460 | 280,537 |
VF Corp. | 28,616 | 1,547,553 |
$13,871,515 | ||
Thrifts & Mortgage Finance — 0.1% | ||
Essent Group, Ltd. | 10,766 | $283,576 |
MGIC Investment Corp. | 43,154 | 274,028 |
New York Community Bancorp, Inc. | 45,609 | 428,269 |
Radian Group, Inc. | 25,363 | 328,451 |
TFS Financial Corp. | 9,601 | 146,607 |
$1,460,931 | ||
Trading Companies & Distributors — 0.3% | ||
Air Lease Corp. | 16,387 | $362,808 |
Fastenal Co. | 51,924 | 1,622,625 |
HD Supply Holdings, Inc.(1) | 25,051 | 712,200 |
MSC Industrial Direct Co., Inc., Class A | 7,733 | 425,083 |
United Rentals, Inc.(1) | 11,654 | 1,199,197 |
Univar Solutions, Inc.(1) | 22,702 | 243,365 |
W.W. Grainger, Inc. | 3,972 | 987,042 |
$5,552,320 | ||
Transportation Infrastructure — 0.0%(3) | ||
Macquarie Infrastructure Corp. | 6,335 | $159,959 |
$159,959 | ||
Water Utilities — 0.3% | ||
American Water Works Co., Inc. | 37,741 | $4,512,314 |
Essential Utilities, Inc. | 49,346 | 2,008,382 |
$6,520,696 | ||
Wireless Telecommunication Services — 0.2% | ||
Sprint Corp.(1) | 69,855 | $602,150 |
Telephone & Data Systems, Inc. | 10,500 | 175,980 |
T-Mobile US, Inc.(1) | 31,344 | 2,629,761 |
Security | Shares | Value |
Wireless Telecommunication Services (continued) | ||
United States Cellular Corp.(1) | 3,730 | $ 109,252 |
$ 3,517,143 | ||
Total Common Stocks (identified cost $1,735,774,444) | $1,935,124,007 |
Short-Term Investments — 0.0%(3) |
Security | Shares | Value |
State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(4) | 1,029,645 | $ 1,029,645 |
Total Short-Term Investments (identified cost $1,029,645) | $ 1,029,645 | |
Total Investments — 99.4% (identified cost $1,736,804,089) | $1,936,153,652 | |
Other Assets, Less Liabilities — 0.6% | $ 11,251,463 | |
Net Assets — 100.0% | $1,947,405,115 |
The percentage shown for each investment category in the Schedule of Investments is based on net assets. | ||
(1) | Non-income producing security. | |
(2) | All or a portion of this security was on loan at March 31, 2020. The aggregate market value of securities on loan at March 31, 2020 was $8,439,127. | |
(3) | Amount is less than 0.05%. | |
(4) | Represents investment of cash collateral received in connection with securities lending. |
Table of Contents
March 31, 2020 | |
Assets | |
Investments in securities of unaffiliated issuers, at value (identified cost $1,736,804,089) - including $8,439,127 of securities on loan | $1,936,153,652 |
Cash | 15,454,414 |
Receivable for capital shares sold | 7,545,487 |
Dividends receivable | 1,668,545 |
Securities lending income receivable | 2,210 |
Receivable from affiliate | 385,080 |
Directors' deferred compensation plan | 734,724 |
Total assets | $1,961,944,112 |
Liabilities | |
Payable for investments purchased | $9,345,607 |
Payable for capital shares redeemed | 2,364,887 |
Deposits for securities loaned | 1,029,645 |
Payable to affiliates: | |
Investment advisory fee | 197,126 |
Administrative fee | 197,126 |
Distribution and service fees | 109,214 |
Sub-transfer agency fee | 6,022 |
Directors' deferred compensation plan | 734,724 |
Accrued expenses | 554,646 |
Total liabilities | $14,538,997 |
Net Assets | $1,947,405,115 |
Sources of Net Assets | |
Paid-in capital | $1,768,096,407 |
Distributable earnings | 179,308,708 |
Total | $1,947,405,115 |
Class A Shares | |
Net Assets | $305,604,521 |
Shares Outstanding | 13,928,973 |
Net Asset Value and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $21.94 |
Maximum Offering Price Per Share (100 ÷ 95.25 of net asset value per share) | $23.03 |
Class C Shares | |
Net Assets | $50,165,874 |
Shares Outstanding | 2,436,629 |
Net Asset Value and Offering Price Per Share* (net assets ÷ shares of beneficial interest outstanding) | $20.59 |
Class I Shares | |
Net Assets | $1,172,386,491 |
Shares Outstanding | 52,085,286 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $22.51 |
Table of Contents
March 31, 2020 | |
Class R6 Shares | |
Net Assets | $419,248,229 |
Shares Outstanding | 18,641,832 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $22.49 |
On sales of $50,000 or more, the offering price of Class A shares is reduced. | |
* | Redemption price per share is equal to the net asset value less any applicable contingent deferred sales charge. |
Table of Contents
Six Months Ended | |
March 31, 2020 | |
Investment Income | |
Dividend income (net of foreign taxes withheld of $680) | $18,436,681 |
Interest income | 28,394 |
Securities lending income, net | 30,346 |
Total investment income | $18,495,421 |
Expenses | |
Investment advisory fee | $1,259,765 |
Administrative fee | 1,259,765 |
Distribution and service fees: | |
Class A | 423,428 |
Class C | 302,684 |
Directors' fees and expenses | 57,355 |
Custodian fees | 17,870 |
Transfer agency fees and expenses | 478,665 |
Accounting fees | 242,567 |
Professional fees | 63,755 |
Registration fees | 78,106 |
Reports to shareholders | 41,228 |
Miscellaneous | 79,897 |
Total expenses | $4,305,085 |
Waiver and/or reimbursement of expenses by affiliate | $(1,136,898) |
Reimbursement of expenses - other | (29,750) |
Net expenses | $3,138,437 |
Net investment income | $15,356,984 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment securities | $(3,079,286) |
Net realized loss | $(3,079,286) |
Change in unrealized appreciation (depreciation): | |
Investment securities | $(241,833,300) |
Net change in unrealized appreciation (depreciation) | $(241,833,300) |
Net realized and unrealized loss | $(244,912,586) |
Net decrease in net assets from operations | $(229,555,602) |
Table of Contents
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $15,356,984 | $23,347,601 |
Net realized loss | (3,079,286) | (12,567,412) |
Net change in unrealized appreciation (depreciation) | (241,833,300) | 82,987,543 |
Net increase (decrease) in net assets from operations | $(229,555,602) | $93,767,732 |
Distributions to shareholders: | ||
Class A | $(3,274,673) | $(10,046,100) |
Class C | (222,608) | (1,863,717) |
Class I | (14,798,820) | (34,899,222) |
Class R6 | (5,027,931) | (7,520,553) |
Total distributions to shareholders | $(23,324,032) | $(54,329,592) |
Capital share transactions: | ||
Class A | $22,613,010 | $25,897,552 |
Class C | (375,965) | (4,368,090) |
Class I | 177,394,238 | 211,002,163 |
Class R6 | 69,151,890 | 212,488,537 |
Net increase in net assets from capital share transactions | $268,783,173 | $445,020,162 |
Net increase in net assets | $15,903,539 | $484,458,302 |
Net Assets | ||
At beginning of period | $1,931,501,576 | $1,447,043,274 |
At end of period | $1,947,405,115 | $1,931,501,576 |
Table of Contents
Class A | ||||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | |||||
2019 | 2018 | 2017 | 2016 | 2015 | ||
Net asset value — Beginning of period | $24.79 | $24.66 | $21.41 | $18.80 | $17.90 | $18.30 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.16 | $0.29 | $0.27 | $0.30 | $0.26 | $0.23 |
Net realized and unrealized gain (loss) | (2.76) | 0.69 | 3.46 | 2.95 | 1.94 | (0.01) |
Total income (loss) from operations | $(2.60) | $0.98 | $3.73 | $3.25 | $2.20 | $0.22 |
Less Distributions | ||||||
From net investment income | $(0.25) | $(0.22) | $(0.25) | $(0.22) | $(0.18) | $(0.13) |
From net realized gain | — | (0.63) | (0.23) | (0.42) | (1.12) | (0.49) |
Total distributions | $(0.25) | $(0.85) | $(0.48) | $(0.64) | $(1.30) | $(0.62) |
Net asset value — End of period | $21.94 | $24.79 | $24.66 | $21.41 | $18.80 | $17.90 |
Total Return(2) | (10.63)%(3) | 4.33% | 17.67% | 17.71% | 12.68% | 1.06% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $305,605 | $321,690 | $291,891 | $264,814 | $319,773 | $269,684 |
Ratios (as a percentage of average daily net assets):(4) | ||||||
Total expenses | 0.60%(5) | 0.62% | 0.65% | 0.70% | 0.71% | 0.77% |
Net expenses | 0.49%(5) | 0.51% | 0.54% | 0.54% | 0.54% | 0.68% |
Net investment income | 1.27%(5) | 1.24% | 1.19% | 1.51% | 1.46% | 1.21% |
Portfolio Turnover | 5%(3) | 17% | 28% | 31% | 27% | 33% |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(3) | Not annualized. |
(4) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(5) | Annualized. |
Table of Contents
Class C | ||||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | |||||
2019 | 2018 | 2017 | 2016 | 2015 | ||
Net asset value — Beginning of period | $23.21 | $23.16 | $20.16 | $17.71 | $16.97 | $17.41 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.06 | $0.11 | $0.09 | $0.15 | $0.12 | $0.08 |
Net realized and unrealized gain (loss) | (2.59) | 0.64 | 3.26 | 2.78 | 1.82 | —(2) |
Total income (loss) from operations | $(2.53) | $0.75 | $3.35 | $2.93 | $1.94 | $0.08 |
Less Distributions | ||||||
From net investment income | $(0.09) | $(0.07) | $(0.12) | $(0.06) | $(0.08) | $(0.03) |
From net realized gain | — | (0.63) | (0.23) | (0.42) | (1.12) | (0.49) |
Total distributions | $(0.09) | $(0.70) | $(0.35) | $(0.48) | $(1.20) | $(0.52) |
Net asset value — End of period | $20.59 | $23.21 | $23.16 | $20.16 | $17.71 | $16.97 |
Total Return(3) | (10.97)%(4) | 3.55% | 16.79% | 16.85% | 11.78% | 0.30% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $50,166 | $57,167 | $61,814 | $51,301 | $43,579 | $36,398 |
Ratios (as a percentage of average daily net assets):(5) | ||||||
Total expenses | 1.35%(6) | 1.38% | 1.40% | 1.50% | 1.53% | 1.57% |
Net expenses | 1.24%(6) | 1.26% | 1.29% | 1.29% | 1.29% | 1.44% |
Net investment income | 0.52%(6) | 0.49% | 0.44% | 0.77% | 0.70% | 0.45% |
Portfolio Turnover | 5%(4) | 17% | 28% | 31% | 27% | 33% |
(1) | Computed using average shares outstanding. |
(2) | Amount is less than $0.005. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
Table of Contents
Class I | ||||||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, | |||||
2019 | 2018 | 2017 | 2016 | 2015 | ||
Net asset value — Beginning of period | $25.46 | $25.29 | $21.94 | $19.26 | $18.33 | $18.69 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.20 | $0.36 | $0.36 | $0.38 | $0.33 | $0.33 |
Net realized and unrealized gain (loss) | (2.84) | 0.72 | 3.54 | 3.03 | 1.98 | (0.01) |
Total income (loss) from operations | $(2.64) | $1.08 | $3.90 | $3.41 | $2.31 | $0.32 |
Less Distributions | ||||||
From net investment income | $(0.31) | $(0.28) | $(0.32) | $(0.31) | $(0.26) | $(0.19) |
From net realized gain | — | (0.63) | (0.23) | (0.42) | (1.12) | (0.49) |
Total distributions | $(0.31) | $(0.91) | $(0.55) | $(0.73) | $(1.38) | $(0.68) |
Net asset value — End of period | $22.51 | $25.46 | $25.29 | $21.94 | $19.26 | $18.33 |
Total Return(2) | (10.54)%(3) | 4.68% | 18.06% | 18.17% | 13.00% | 1.54% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $1,172,386 | $1,143,304 | $920,394 | $544,751 | $387,043 | $186,257 |
Ratios (as a percentage of average daily net assets):(4) | ||||||
Total expenses | 0.35%(5) | 0.37% | 0.41% | 0.35% | 0.36% | 0.36% |
Net expenses | 0.24%(5) | 0.22% | 0.19% | 0.19% | 0.19% | 0.20% |
Net investment income | 1.52%(5) | 1.52% | 1.53% | 1.87% | 1.80% | 1.69% |
Portfolio Turnover | 5%(3) | 17% | 28% | 31% | 27% | 33% |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(3) | Not annualized. |
(4) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(5) | Annualized. |
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Class R6 | |||
Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | Period Ended September 30, 2018(1) | |
Net asset value — Beginning of period | $25.44 | $25.28 | $22.09 |
Income (Loss) From Operations | |||
Net investment income(2) | $0.21 | $0.37 | $0.37 |
Net realized and unrealized gain (loss) | (2.84) | 0.72 | 3.37 |
Total income (loss) from operations | $(2.63) | $1.09 | $3.74 |
Less Distributions | |||
From net investment income | $(0.32) | $(0.30) | $(0.32) |
From net realized gain | — | (0.63) | (0.23) |
Total distributions | $(0.32) | $(0.93) | $(0.55) |
Net asset value — End of period | $22.49 | $25.44 | $25.28 |
Total Return(3) | (10.52)%(4) | 4.70% | 17.21%(4) |
Ratios/Supplemental Data | |||
Net assets, end of period (000’s omitted) | $419,248 | $409,341 | $172,944 |
Ratios (as a percentage of average daily net assets):(5) | |||
Total expenses | 0.31%(6) | 0.32% | 0.35%(6) |
Net expenses | 0.19%(6) | 0.19% | 0.19%(6) |
Net investment income | 1.57%(6) | 1.55% | 1.58%(6) |
Portfolio Turnover | 5%(4) | 17% | 28%(7) |
(1) | For the period from the commencement of operations, October 3, 2017, to September 30, 2018. |
(2) | Computed using average shares outstanding. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if any. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
(7) | For the year ended September 30, 2018. |
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Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $1,935,124,007(1) | $ — | $— | $1,935,124,007 |
Short-Term Investments | 1,029,645 | — | — | 1,029,645 |
Total Investments | $1,936,153,652 | $ — | $ — | $1,936,153,652 |
(1) | The level classification by major category of investments is the same as the category presentation in the Schedule of Investments. |
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Aggregate cost | $1,756,497,254 |
Gross unrealized appreciation | $327,496,752 |
Gross unrealized depreciation | (147,840,354) |
Net unrealized appreciation | $179,656,398 |
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Remaining Contractual Maturity of the Transactions | |||||
Overnight and Continuous | <30 days | 30 to 90 days | >90 days | Total | |
Securities Lending Transactions | |||||
Common Stocks | $1,029,645 | $ — | $ — | $ — | $1,029,645 |
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Six Months Ended March 31, 2020 (Unaudited) | Year Ended September 30, 2019 | ||||
Shares | Amount | Shares | Amount | ||
Class A | |||||
Shares sold | 2,310,345 | $55,965,180 | 2,722,940 | $63,137,685 | |
Reinvestment of distributions | 118,379 | 3,066,025 | 424,532 | 9,467,075 | |
Shares redeemed | (1,500,560) | (37,019,237) | (2,202,944) | (50,918,507) | |
Converted from Class C | 25,867 | 601,042 | 192,053 | 4,211,299 | |
Net increase | 954,031 | $22,613,010 | 1,136,581 | $25,897,552 | |
Class C | |||||
Shares sold | 232,483 | $5,544,687 | 432,146 | $9,401,441 | |
Reinvestment of distributions | 7,940 | 193,407 | 77,141 | 1,620,740 | |
Shares redeemed | (239,096) | (5,513,017) | (511,788) | (11,178,972) | |
Converted to Class A | (27,556) | (601,042) | (204,127) | (4,211,299) | |
Net decrease | (26,229) | $(375,965) | (206,628) | $(4,368,090) | |
Class I | |||||
Shares sold | 12,564,994 | $319,194,590 | 21,971,120 | $525,308,306 | |
Reinvestment of distributions | 536,599 | 14,246,696 | 1,457,832 | 33,296,893 | |
Shares redeemed | (5,928,293) | (156,047,048) | (14,907,892) | (347,603,036) | |
Net increase | 7,173,300 | $177,394,238 | 8,521,060 | $211,002,163 | |
Class R6 | |||||
Shares sold | 5,026,639 | $131,310,227 | 11,533,607 | $268,652,048 | |
Reinvestment of distributions | 169,858 | 4,504,630 | 329,560 | 7,520,554 | |
Shares redeemed | (2,647,095) | (66,662,967) | (2,611,743) | (63,684,065) | |
Net increase | 2,549,402 | $69,151,890 | 9,251,424 | $212,488,537 |
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Officers |
Hope L. Brown Chief Compliance Officer |
Maureen A. Gemma Vice President, Secretary and Chief Legal Officer |
James F. Kirchner Treasurer |
Directors |
Alice Gresham Bullock Chairperson |
Richard L. Baird, Jr. |
Cari M. Dominguez |
John G. Guffey, Jr. |
Miles D. Harper, III |
Joy V. Jones |
John H. Streur* |
Anthony A. Williams |
*Interested Director and President |
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• | At the time of opening an account, Eaton Vance generally requires you to provide us with certain information such as name, address, social security number, tax status, account numbers, and account balances. This information is necessary for us to both open an account for you and to allow us to satisfy legal requirements such as applicable anti-money laundering reviews and know-your-customer requirements. |
• | On an ongoing basis, in the normal course of servicing your account, Eaton Vance may share your information with unaffiliated third parties that perform various services for Eaton Vance and/or your account. These third parties include transfer agents, custodians, broker/dealers and our professional advisers, including auditors, accountants, and legal counsel. Eaton Vance may additionally share your personal information with our affiliates. |
• | We believe our Privacy Program is reasonably designed to protect the confidentiality of your personal information and to prevent unauthorized access to that information. |
• | We reserve the right to change our Privacy Program at any time upon proper notification to you. You may want to review our Privacy Program periodically for changes by accessing the link on our homepage: www.eatonvance.com. |
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Item 2. | Code of Ethics. |
Not required in this filing.
Item 3. | Audit Committee Financial Expert. |
Not required in this filing.
Item 4. | Principal Accountant Fees and Services. |
Not required in this filing.
Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
Item 6. | Schedule of Investments. |
Please see schedule of investments contained in the Report to Shareholders included under Item 1 of this FormN-CSR.
Item 7. | Disclosure of Proxy Voting Policies and Procedures forClosed-End Management Investment Companies. |
Not applicable.
Item 8. | Portfolio Managers ofClosed-End Management Investment Companies. |
Not applicable.
Item 9. | Purchases of Equity Securities byClosed-End Management Investment Company and Affiliated Purchasers. |
Not applicable.
Item 10. | Submission of Matters to a Vote of Security Holders. |
No material changes.
Item 11. | Controls and Procedures. |
(a) The registrant’s principal executive and principal financial officers have concluded that the registrant’s disclosure controls and procedures (as defined in Rule30a-3(c) under the Investment Company Act of 1940 Act, as amended (the “1940 Act”) are effective, based on the evaluation of these controls and procedures required by Rule30a-3(b) under the 1940 Act and Rules13a-15(b) or15d-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), as of a date within 90 days of the filing date of this report.
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(b) There was no change in the registrant’s internal control over financial reporting (as defined in Rule30a-3(d) under the 1940 Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities forClosed-End Management Investment Companies |
Not applicable.
Item 13. | Exhibits. |
(a)(1) | Registrant’s Code of Ethics- Not applicable (please see Item 2) | |
(a)(2)(i) | President’s Section 302 certification. | |
(a)(2)(ii) | Treasurer’s Section 302 certification. | |
(b) | Combined Section 906 certification. |
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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.
Calvert Responsible Index Series, Inc. | ||
By: | /s/ John H. Streur | |
John H. Streur | ||
President | ||
Date: May 26, 2020 |
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/ John H. Streur | |
John H. Streur | ||
President | ||
Date: May 26, 2020 | ||
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Treasurer | ||
Date: May 26, 2020 |