UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-7704
Schwab Capital Trust
(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105 | ||
(Address of principal executive offices) | (Zip code) |
Jonathan de St. Paer
Schwab Capital Trust
211 Main Street, San Francisco, California 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 636-7000
Date of fiscal year end: October 31
Date of reporting period: October 31, 2020
Item 1: Report(s) to Shareholders.
New Notice Regarding Shareholder Report Delivery Options |
Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/laudusfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically. |
If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request: |
• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing; |
• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or |
• If owned directly through a fund by calling 1-800-407-0256. |
If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action. |
Total Return for the 12 Months Ended October 31, 2020 | |
Laudus International MarketMasters Fund1 (Ticker Symbol: SWMIX) | 8.56% |
MSCI EAFE® Index (Net)2 | -6.86% |
Fund Category: Morningstar Foreign Large Growth3 | 12.71% |
Performance Details | pages 7-10 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
President of Charles Schwab
Investment Management, Inc.
and the fund covered
in this report.
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Omar Aguilar, Ph.D., Senior Vice President and Chief Investment Officer of Passive Equity and Multi-Asset Strategies, has overall responsibility for all aspects of the management of the fund. Prior to joining CSIM in 2011, Mr. Aguilar was with Financial Engines, where he was responsible for managing assets from leading retirement plan sponsors in the defined contribution market. Prior to that, he served as head of quantitative equity for ING Investment Management (now known as Voya Investment Management), building and developing the group and managing assets with global active, index, and enhanced index strategies for pension funds, variable annuities, and mutual funds. Mr. Aguilar also served as head of quantitative research for Lehman Brothers’ alternative investment management business and as a director of quantitative research and a portfolio manager with both Merrill Lynch Investment Management and Bankers Trust. |
Jane Shi, CFA, Portfolio Manager, is responsible for the day-to-day co-management of the fund. Prior to joining CSIM in 2011, Ms. Shi was a vice president investment analyst at Bailard, Inc., where she developed quantitative models for domestic equity and tactical asset allocation strategies, and was also responsible for performance measurement and attribution. Prior to that, she was a treasury analyst at Sun Microsystems, Inc. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Laudus International MarketMasters Fund (4/2/04)2 | 8.56% | 6.51% | 6.25% |
MSCI EAFE® Index (Net)4 | -6.86% | 2.85% | 3.82% |
Fund Category: Morningstar Foreign Large Growth5 | 12.71% | 7.86% | 6.47% |
Fund Expense Ratios6: Net 1.25%; Gross 1.50% |
Investment Managers | Investment Style | % of Net Assets |
American Century Investment Management, Inc. | International Small-Cap Growth | 29.6% |
William Blair Investment Management, LLC | International Multi-Cap Growth | 28.4% |
Mondrian Investment Partners Limited | International Small-Cap Value | 17.9% |
Harris Associates L.P. | International Large-Cap Value | 15.1% |
Baillie Gifford Overseas Limited8 | International Growth | 7.8% |
Mellon Investments Corporation | International Blend | 0.0% 9 |
Cash and other assets | 1.2% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The fund commenced operations on October 16, 1996 which became the Laudus International MarketMasters Fund Investor Shares. The Investor Shares were consolidated into Select Shares on February 26, 2019. The performance presented is that of the former Select Shares which commenced operations on April 2, 2004. |
3 | The fund’s performance relative to the index may be affected by fair-value pricing. See financial note 2 for more information. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
6 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, refer to the financial highlights section of the financial statements. |
7 | For more information about each of the investment manager’s investment styles, refer to the fund’s prospectus. |
8 | Baillie Gifford Overseas Limited began managing fund assets on January 31, 2020. |
9 | Less than 0.05%. |
Number of Holdings | 448 |
Weighted Average Market Cap (millions) | $56,227 |
Price/Earnings Ratio (P/E) | 26.5 |
Price/Book Ratio (P/B) | 2.5 |
Portfolio Turnover Rate | 65% |
1 | Excludes derivatives. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/20 | Ending Account Value (Net of Expenses) at 10/31/20 | Expenses Paid During Period 5/1/20-10/31/202 | |
Laudus International MarketMasters Fund | ||||
Actual Return | 1.25% | $1,000.00 | $1,233.30 | $7.02 |
Hypothetical 5% Return | 1.25% | $1,000.00 | $1,018.82 | $6.34 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by 366 days of the fiscal year. |
11/1/19– 10/31/20 | 11/1/18– 10/31/191 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $22.89 | $22.89 | $26.96 | $21.16 | $22.71 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.00 3 | 0.31 | 0.24 | 0.22 | 0.19 | |
Net realized and unrealized gains (losses) | 1.95 | 1.74 | (3.09) | 5.76 | (0.23) | |
Total from investment operations | 1.95 | 2.05 | (2.85) | 5.98 | (0.04) | |
Less distributions: | ||||||
Distributions from net investment income | (0.43) | (0.29) | (0.36) | (0.18) | (0.31) | |
Distributions from net realized gains | (0.04) | (1.76) | (0.86) | — | (1.20) | |
Total distributions | (0.47) | (2.05) | (1.22) | (0.18) | (1.51) | |
Net asset value at end of period | $24.37 | $22.89 | $22.89 | $26.96 | $21.16 | |
Total return | 8.56% | 10.50% | (11.09%) | 28.52% | 0.00% 4 | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% | |
Gross operating expenses | 1.51% | 1.50% | 1.51% | 1.53% | 1.54% | |
Net investment income (loss) | 0.00% 4 | 1.43% | 0.92% | 0.92% | 0.93% | |
Portfolio turnover rate | 65% | 54% | 69% | 71% | 69% | |
Net assets, end of period (x 1,000,000) | $1,243 | $1,413 | $1,127 | $1,229 | $1,063 | |
Security | Number of Shares | Value ($) |
Common Stock 94.8% of net assets | ||
Argentina 1.1% | ||
Globant S.A. * | 15,756 | 2,845,691 |
MercadoLibre, Inc. * | 8,685 | 10,544,024 |
13,389,715 | ||
Australia 4.9% | ||
Altium Ltd. | 86,096 | 2,259,777 |
AMP Ltd. | 1,993,775 | 2,145,485 |
Aristocrat Leisure Ltd. | 94,528 | 1,903,485 |
Atlassian Corp. plc, Class A * | 11,031 | 2,113,760 |
Brambles Ltd. | 190,300 | 1,283,444 |
Breville Group Ltd. | 143,779 | 2,663,839 |
carsales.com Ltd. | 116,529 | 1,702,463 |
Centuria Office REIT | 1,573,492 | 2,278,407 |
Charter Hall Retail REIT | 1,779,895 | 4,306,938 |
Costa Group Holdings Ltd. | 642,103 | 1,606,583 |
CSL Ltd. | 10,878 | 2,202,330 |
Gold Road Resources Ltd. * | 3,145,522 | 2,944,410 |
Goodman Group | 112,013 | 1,449,801 |
Inghams Group Ltd. | 1,417,802 | 2,852,876 |
InvoCare Ltd. | 137,163 | 974,395 |
Kogan.com Ltd. | 210,678 | 3,049,781 |
National Storage REIT | 2,165,673 | 2,748,527 |
NEXTDC Ltd. * | 616,203 | 5,517,387 |
Orica Ltd. | 274,702 | 2,948,864 |
Pact Group Holdings Ltd. | 619,668 | 1,023,646 |
Redbubble Ltd * | 498,939 | 1,512,576 |
Seven Group Holdings Ltd. | 354,563 | 4,841,516 |
Shopping Centres Australasia Property Group | 2,471,951 | 4,033,091 |
Technology One Ltd. | 121,184 | 765,004 |
Temple & Webster Group Ltd. * | 305,808 | 2,245,557 |
61,373,942 | ||
Belgium 0.5% | ||
Anheuser-Busch InBev S.A./N.V. | 33,300 | 1,722,481 |
Melexis N.V. | 35,626 | 2,711,811 |
Warehouses De Pauw CVA | 62,049 | 2,078,845 |
6,513,137 | ||
Brazil 1.0% | ||
B3 S.A. - Brasil Bolsa Balcao | 148,600 | 1,322,080 |
Duratex S.A. | 621,500 | 2,076,378 |
Locaweb Servicos de Internet S.A. * | 258,800 | 3,118,888 |
Magazine Luiza S.A. | 330,000 | 1,416,516 |
Notre Dame Intermedica Participacoes S.A. | 63,000 | 721,904 |
Pet Center Comercio e Participacoes SA * | 686,519 | 2,123,705 |
Totvs S.A. | 374,800 | 1,763,627 |
12,543,098 | ||
Security | Number of Shares | Value ($) |
Canada 5.8% | ||
Alamos Gold, Inc., Class A | 436,954 | 3,998,129 |
Alimentation Couche-Tard, Inc., Class B | 39,623 | 1,220,244 |
Boralex, Inc., Class A | 187,185 | 5,444,283 |
Brookfield Asset Management, Inc., Class A | 13,048 | 388,569 |
BRP, Inc. | 57,389 | 3,099,687 |
CAE, Inc. | 220,591 | 3,770,065 |
Canadian National Railway Co. | 47,462 | 4,714,851 |
Cenovus Energy, Inc. | 640,225 | 2,095,160 |
Cineplex, Inc. | 137,320 | 524,626 |
Element Fleet Management Corp. | 387,776 | 3,652,772 |
Enghouse Systems Ltd. | 11,375 | 564,438 |
FirstService Corp. | 29,135 | 3,906,754 |
Gibson Energy, Inc. | 90,142 | 1,327,468 |
Innergex Renewable Energy, Inc. | 491,424 | 8,859,870 |
Kinaxis, Inc. * | 18,915 | 2,887,437 |
Lululemon Athletica, Inc. * | 9,538 | 3,045,388 |
Northview Apartment Real Estate Investment Trust | 118,975 | 3,225,533 |
Nuvei Corp. * | 40,671 | 1,511,334 |
Open Text Corp. | 44,900 | 1,649,670 |
Ritchie Bros. Auctioneers, Inc. | 28,136 | 1,705,519 |
Spin Master Corp. * | 99,511 | 2,015,167 |
TFI International, Inc. | 84,178 | 3,747,984 |
The Descartes Systems Group, Inc. * | 41,595 | 2,230,389 |
Toromont Industries Ltd. | 8,613 | 536,252 |
TransAlta Renewables, Inc. | 30,801 | 386,082 |
WSP Global, Inc. | 83,151 | 5,259,427 |
71,767,098 | ||
China 8.4% | ||
A-Living Services Co., Ltd., H Shares | 122,750 | 516,934 |
Aier Eye Hospital Group Co., Ltd., A Shares | 177,480 | 1,654,133 |
AK Medical Holdings Ltd. | 142,000 | 317,737 |
Alibaba Group Holding Ltd. * | 269,532 | 10,213,604 |
Alibaba Group Holding Ltd. ADR * | 25,140 | 7,659,907 |
Baidu, Inc. ADR * | 11,290 | 1,502,135 |
Centre Testing International Group Co., Ltd., A Shares | 384,300 | 1,550,530 |
China Lesso Group Holdings Ltd | 931,000 | 1,509,361 |
China Yongda Automobiles Services Holdings Ltd. | 3,570,000 | 5,086,702 |
Country Garden Services Holdings Co., Ltd. | 287,000 | 1,807,439 |
Foshan Haitian Flavouring & Food Co., Ltd., A Shares | 56,260 | 1,347,259 |
GDS Holdings Ltd. ADR * | 17,681 | 1,485,911 |
Hangzhou Tigermed Consulting Co., Ltd., A Shares | 83,800 | 1,557,384 |
JD.com, Inc. * | 73,750 | 3,008,151 |
Kingsoft Cloud Holdings Ltd. ADR * | 116,675 | 3,389,409 |
Kweichow Moutai Co., Ltd., A Shares | 9,000 | 2,249,882 |
Li Ning Co., Ltd. | 599,000 | 3,121,952 |
Meituan, B Shares * | 317,500 | 11,836,133 |
NAURA Technology Group Co., Ltd., A Shares | 30,300 | 776,788 |
Security | Number of Shares | Value ($) |
NetEase, Inc. | 164,125 | 2,870,721 |
NIO, Inc. ADR * | 58,430 | 1,786,789 |
Offcn Education Technology Co., Ltd., A Shares | 161,500 | 954,794 |
Ping An Insurance Group Co. of China Ltd., H Shares | 475,000 | 4,911,345 |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd., A Shares | 17,000 | 984,612 |
Shenzhou International Group Holdings Ltd. | 78,000 | 1,357,151 |
Silergy Corp. | 26,000 | 1,602,973 |
TAL Education Group ADR * | 51,750 | 3,439,305 |
Tencent Holdings Ltd. | 214,000 | 16,350,800 |
Tencent Music Entertainment Group ADR * | 34,919 | 519,595 |
Times Neighborhood Holdings Ltd. | 1,609,000 | 1,635,880 |
Topchoice Medical Corp., A Shares * | 34,900 | 1,176,872 |
Trip.Com Group Ltd. ADR * | 80,814 | 2,324,211 |
Venus MedTech Hangzhou, Inc., H Shares * | 50,000 | 482,092 |
Will Semiconductor Ltd. Class A | 14,100 | 417,890 |
WuXi AppTec Co. Ltd., A Shares | 49,700 | 840,046 |
Wuxi Biologics Cayman, Inc. * | 99,000 | 2,780,287 |
105,026,714 | ||
Denmark 2.6% | ||
Alk-Abello A/S * | 10,110 | 3,382,734 |
Chr. Hansen Holding A/S | 12,833 | 1,294,976 |
Coloplast A/S, Class B | 11,180 | 1,634,996 |
DSV PANALPINA A/S | 37,619 | 6,103,360 |
Genmab A/S * | 12,684 | 4,236,771 |
Netcompany Group A/S * | 60,202 | 5,007,307 |
Novo Nordisk A/S, Class B | 48,144 | 3,069,933 |
Orsted A/S | 16,190 | 2,569,580 |
Royal Unibrew A/S | 41,674 | 4,063,594 |
Tryg A/S | 14,086 | 390,925 |
31,754,176 | ||
Finland 1.1% | ||
Huhtamaki Oyj | 70,560 | 3,446,681 |
Metso Outotec Oyj | 614,108 | 4,329,135 |
Neste Oyj | 67,418 | 3,516,088 |
UPM-Kymmene Oyj | 76,500 | 2,161,810 |
13,453,714 | ||
France 6.3% | ||
Accor S.A. * | 147,200 | 3,751,825 |
Airbus SE * | 50,201 | 3,673,008 |
BNP Paribas S.A. * | 227,503 | 7,934,114 |
Bureau Veritas S.A. * | 58,994 | 1,293,641 |
Coface S.A. * | 357,092 | 2,790,022 |
Dassault Systemes SE | 14,762 | 2,517,073 |
EssilorLuxottica S.A. * | 11,000 | 1,358,048 |
Gaztransport Et Technigaz S.A. | 44,920 | 4,305,885 |
Hermes International | 3,357 | 3,125,702 |
Kering S.A. | 12,359 | 7,468,743 |
Korian S.A. * | 123,736 | 3,485,942 |
L'Oreal S.A. | 13,299 | 4,298,041 |
LISI * | 58,688 | 948,712 |
LVMH Moet Hennessy Louis Vuitton SE | 9,503 | 4,454,509 |
Orpea * | 6,679 | 667,127 |
Publicis Groupe S.A. | 111,410 | 3,870,638 |
Rubis S.C.A. | 116,320 | 3,824,578 |
Safran S.A. * | 36,282 | 3,827,021 |
Security | Number of Shares | Value ($) |
Sartorius Stedim Biotech | 4,325 | 1,640,084 |
SOITEC * | 31,268 | 4,435,693 |
Teleperformance | 9,074 | 2,723,859 |
Valeo S.A. | 69,314 | 2,096,846 |
Verallia S.A. | 84,497 | 2,353,011 |
Worldline S.A. * | 26,137 | 1,935,875 |
78,779,997 | ||
Germany 8.0% | ||
Allianz SE | 27,870 | 4,909,428 |
Bayer AG (a) | 542 | 25,409 |
Bayer AG (a) | 109,081 | 5,125,772 |
Bayerische Motoren Werke AG | 86,700 | 5,924,968 |
Carl Zeiss Meditec AG | 7,120 | 919,976 |
CompuGroup Medical SE & Co. KgaA | 29,192 | 2,508,174 |
Continental AG | 51,835 | 5,507,515 |
Daimler AG | 135,094 | 6,982,804 |
Delivery Hero SE * | 48,616 | 5,580,832 |
Dermapharm Holding SE | 16,346 | 793,858 |
Duerr AG | 50,643 | 1,456,411 |
Fielmann AG * | 85,075 | 6,450,278 |
Flatex AG * | 83,625 | 4,480,118 |
Fresenius Medical Care AG & Co. KGaA | 28,400 | 2,168,686 |
Gerresheimer AG | 38,416 | 3,861,744 |
HelloFresh SE * | 49,706 | 2,656,131 |
Henkel AG & Co. KGaA | 8,800 | 795,554 |
Infineon Technologies AG | 155,256 | 4,322,510 |
JOST Werke AG * | 49,519 | 1,857,048 |
KION Group AG | 14,634 | 1,140,294 |
MTU Aero Engines AG | 19,920 | 3,404,753 |
Nemetschek SE | 24,182 | 1,750,944 |
Norma Group SE | 38,645 | 1,199,010 |
Puma SE * | 28,630 | 2,506,360 |
SAP SE | 23,167 | 2,471,562 |
Sixt SE * | 28,223 | 2,132,383 |
Stabilus S.A. | 34,536 | 1,957,959 |
Stroeer SE & Co. KGaA * | 39,315 | 2,841,980 |
Teamviewer AG * | 30,632 | 1,350,198 |
ThyssenKrupp AG *(a) | 600 | 2,858 |
ThyssenKrupp AG *(a) | 405,800 | 1,936,986 |
Varta AG * | 20,803 | 2,614,712 |
Vonovia SE | 35,681 | 2,278,713 |
Zalando SE * | 56,544 | 5,265,625 |
99,181,553 | ||
Hong Kong 2.1% | ||
AIA Group Ltd. | 583,600 | 5,554,222 |
ASM Pacific Technology Ltd. | 156,900 | 1,582,228 |
Cafe De Coral Holdings Ltd. | 1,214,000 | 2,509,343 |
HKBN Ltd. | 1,820,983 | 3,154,499 |
Man Wah Holdings Ltd. | 2,333,200 | 3,256,300 |
Melco International Development Ltd. | 450,000 | 730,459 |
Minth Group Ltd. | 990,000 | 4,096,615 |
SUNeVision Holdings Ltd. | 3,636,000 | 3,191,163 |
Yue Yuen Industrial Holdings Ltd. | 1,292,000 | 2,104,428 |
26,179,257 | ||
India 0.8% | ||
Axis Bank Ltd. * | 529,224 | 3,508,027 |
HDFC Bank Ltd. * | 82,439 | 1,316,546 |
Ipca Laboratories Ltd. | 20,409 | 636,819 |
Pidilite Industries Ltd. | 27,261 | 577,303 |
Security | Number of Shares | Value ($) |
Reliance Industries Ltd. | 150,524 | 4,173,242 |
Reliance Industries Ltd. - Partly Paid Up | 9,089 | 144,849 |
10,356,786 | ||
Indonesia 0.4% | ||
PT Bank Central Asia Tbk | 1,502,700 | 2,956,796 |
PT Bank Mandiri (Persero) Tbk | 4,741,600 | 1,846,999 |
4,803,795 | ||
Ireland 0.9% | ||
Glanbia plc | 227,733 | 2,166,104 |
ICON plc * | 12,461 | 2,246,718 |
Kingspan Group plc * | 33,877 | 2,953,195 |
Ryanair Holdings plc * | 10,000 | 137,793 |
Ryanair Holdings plc ADR * | 39,421 | 3,177,333 |
10,681,143 | ||
Israel 0.9% | ||
AudioCodes Ltd. | 37,543 | 1,088,371 |
CyberArk Software Ltd. * | 6,625 | 656,869 |
Inmode Ltd * | 65,335 | 2,388,648 |
Kornit Digital Ltd. * | 54,151 | 3,645,445 |
Nova Measuring Instruments Ltd * | 31,635 | 1,759,855 |
Wix.com Ltd. * | 6,215 | 1,537,094 |
11,076,282 | ||
Italy 1.2% | ||
Amplifon S.p.A. * | 24,047 | 874,294 |
Banca Farmafactoring S.p.A. * | 268,183 | 1,237,286 |
Brunello Cucinelli S.p.A. * | 14,139 | 424,541 |
Ferrari N.V. | 15,220 | 2,715,124 |
Interpump Group S.p.A. | 60,917 | 2,300,923 |
Intesa Sanpaolo S.p.A. * | 4,269,700 | 7,088,145 |
Moncler S.p.A. * | 12,886 | 515,591 |
15,155,904 | ||
Japan 12.2% | ||
Anritsu Corp. | 157,200 | 3,441,494 |
Ariake Japan Co., Ltd. | 35,400 | 2,267,727 |
Asahi Intecc Co., Ltd. | 48,700 | 1,509,124 |
BASE, Inc. * | 35,800 | 3,837,254 |
BayCurrent Consulting, Inc. | 18,100 | 2,341,964 |
Benefit One, Inc. | 32,900 | 823,312 |
Comture Corp. | 49,000 | 1,246,604 |
Cosmos Pharmaceutical Corp. | 14,000 | 2,377,751 |
Daikin Industries Ltd. | 21,100 | 3,948,511 |
Digital Arts, Inc. | 14,000 | 989,377 |
Disco Corp. | 7,500 | 2,024,312 |
en-Japan, Inc. | 116,800 | 2,567,918 |
GMO Payment Gateway, Inc. | 8,400 | 1,029,239 |
Harmonic Drive Systems, Inc. | 42,100 | 2,788,600 |
Hennge KK * | 22,600 | 1,634,933 |
Hoya Corp. | 23,300 | 2,629,566 |
Infomart Corp. | 261,800 | 2,165,094 |
Invincible Investment Corp. | 8,792 | 2,810,441 |
IR Japan Holdings Ltd. | 15,100 | 1,671,826 |
JMDC, Inc. * | 48,600 | 2,549,230 |
Kakaku.com, Inc. | 84,100 | 2,222,546 |
Keyence Corp. | 14,300 | 6,489,662 |
Kobe Bussan Co., Ltd. | 73,800 | 2,076,366 |
Komatsu Ltd. | 108,200 | 2,439,419 |
Kyudenko Corp. | 153,000 | 4,175,560 |
M3, Inc. | 77,000 | 5,200,250 |
Security | Number of Shares | Value ($) |
Mabuchi Motor Co., Ltd. | 43,800 | 1,805,819 |
Matsumotokiyoshi Holdings Co., Ltd. | 82,700 | 3,052,982 |
Meitec Corp. | 7,400 | 366,856 |
Menicon Co., Ltd. | 44,500 | 3,142,039 |
Mercari, Inc. * | 45,000 | 1,891,906 |
MISUMI Group, Inc. | 96,300 | 2,860,068 |
MonotaRO Co., Ltd. | 32,000 | 1,769,975 |
Musashi Seimitsu Industry Co., Ltd. | 121,400 | 1,268,972 |
Nabtesco Corp. | 96,600 | 3,608,805 |
Nifco, Inc. | 165,700 | 4,959,755 |
Nihon Kohden Corp. | 52,400 | 1,638,998 |
Nihon M&A Center, Inc. | 36,400 | 2,137,464 |
Nippon Gas Co., Ltd. | 76,300 | 3,639,259 |
Nomura Research Institute Ltd. | 63,200 | 1,862,977 |
NS Solutions Corp. | 12,900 | 377,771 |
Olympus Corp. | 87,400 | 1,673,193 |
Omron Corp. | 49,700 | 3,588,640 |
Open House Co., Ltd. | 106,800 | 3,636,769 |
PALTAC Corp. | 10,200 | 570,257 |
Persol Holdings Co., Ltd. | 53,400 | 808,807 |
Rakus Co. Ltd | 134,700 | 2,647,080 |
Resorttrust, Inc. | 191,300 | 2,694,211 |
Seria Co., Ltd. | 95,800 | 3,691,088 |
SHIFT, Inc. * | 24,100 | 3,058,546 |
SHO-BOND Holdings Co., Ltd. | 73,300 | 3,538,062 |
SMC Corp. | 8,700 | 4,627,576 |
SoftBank Group Corp. | 20,000 | 1,302,675 |
Sushiro Global Holdings Ltd. | 25,100 | 681,376 |
Systena Corp. | 170,400 | 3,091,990 |
TechnoPro Holdings, Inc. | 12,200 | 758,809 |
Terumo Corp. | 51,200 | 1,884,364 |
The Japan Steel Works Ltd. | 44,000 | 940,647 |
TIS, Inc. | 59,700 | 1,141,771 |
Toyota Motor Corp. | 34,700 | 2,277,947 |
UT Group Co., Ltd. * | 79,500 | 2,477,131 |
Zeon Corp. | 370,800 | 4,511,311 |
151,243,976 | ||
Luxembourg 0.1% | ||
Eurofins Scientific SE * | 1,871 | 1,489,915 |
Mexico 0.2% | ||
Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR * | 4,431 | 511,116 |
Grupo Televisa S.A.B. ADR * | 253,900 | 1,614,804 |
2,125,920 | ||
Netherlands 3.5% | ||
Adyen N.V. * | 3,185 | 5,353,167 |
Alfen Beheer BV * | 42,250 | 2,700,033 |
ASM International N.V. | 20,174 | 2,881,469 |
ASML Holding N.V. | 38,335 | 13,869,713 |
B&S Group Sarl | 260,977 | 1,717,437 |
Basic-Fit N.V. * | 81,036 | 1,963,075 |
BE Semiconductor Industries N.V. | 14,605 | 588,490 |
Boskalis Westminster N.V. * | 128,142 | 2,576,759 |
Euronext N.V. | 23,714 | 2,469,137 |
EXOR N.V. | 72,900 | 3,792,755 |
IMCD N.V. | 29,165 | 3,375,586 |
Marel Hf | 489,211 | 2,364,502 |
43,652,123 | ||
Security | Number of Shares | Value ($) |
Norway 1.0% | ||
Bakkafrost P/F * | 45,148 | 2,582,766 |
Elkem A.S.A. | 575,647 | 1,224,338 |
Fjordkraft Holding ASA | 357,379 | 2,943,300 |
LINK Mobility Group Holding ASA * | 396,025 | 2,115,640 |
NEL ASA * | 875,215 | 1,675,144 |
Tomra Systems A.S.A. | 34,877 | 1,408,566 |
11,949,754 | ||
Panama 0.1% | ||
Copa Holdings S.A., Class A | 32,302 | 1,591,843 |
Poland 0.2% | ||
Dino Polska S.A. * | 48,475 | 2,665,127 |
Portugal 0.0% | ||
Banco Espirito Santo S.A. *(b) | 42,176 | — |
Republic of Korea 1.6% | ||
Cosmax, Inc. | 16,535 | 1,540,098 |
Douzone Bizon Co., Ltd. | 20,198 | 1,780,775 |
Hugel, Inc. * | 18,944 | 3,528,233 |
Kakao Corp. | 6,259 | 1,825,068 |
NAVER Corp. | 7,440 | 1,903,680 |
Orion Corp/Republic of Korea | 29,843 | 2,859,517 |
Samsung Electronics Co., Ltd. | 31,600 | 1,588,393 |
Samsung SDI Co., Ltd. | 5,158 | 2,031,923 |
SK Materials Co., Ltd. | 16,776 | 3,304,126 |
20,361,813 | ||
Russia 0.1% | ||
Yandex N.V., Class A * | 31,346 | 1,804,589 |
Singapore 1.4% | ||
Ascendas Real Estate Investment Trust | 599,871 | 1,265,799 |
CapitaLand Mall Trust | 1,166,100 | 1,478,099 |
ESR-REIT | 7,600,748 | 1,951,822 |
NetLink NBN Trust | 4,393,700 | 3,092,255 |
SATS Ltd. | 1,455,900 | 3,175,075 |
Sheng Siong Group Ltd. | 3,842,800 | 4,696,895 |
SPH REIT | 4,000,500 | 2,182,599 |
17,842,544 | ||
South Africa 0.4% | ||
Naspers Ltd., N Shares | 23,270 | 4,542,942 |
Spain 0.5% | ||
Amadeus IT Group S.A. | 111,597 | 5,317,168 |
Industria de Diseno Textil S.A. | 31,455 | 776,603 |
6,093,771 | ||
Sweden 5.7% | ||
AAK AB * | 170,341 | 3,315,209 |
AddTech AB, B Shares | 295,678 | 3,267,560 |
AF POYRY AB * | 84,305 | 1,926,411 |
Atlas Copco AB, A Shares | 124,718 | 5,505,197 |
Atlas Copco AB, B Shares | 19,995 | 766,124 |
Beijer Ref AB | 20,986 | 581,035 |
BHG Group AB * | 265,262 | 4,132,397 |
Bravida Holding AB | 312,830 | 3,610,496 |
Security | Number of Shares | Value ($) |
Embracer Group AB * | 165,094 | 3,322,698 |
Evolution Gaming Group AB | 29,999 | 2,225,033 |
Fabege AB | 38,595 | 487,335 |
Hennes & Mauritz AB, B Shares | 212,400 | 3,453,284 |
Hexagon AB, B Shares * | 61,016 | 4,472,301 |
Indutrade AB * | 22,655 | 1,146,999 |
Kinnevik AB, B Shares | 36,182 | 1,481,614 |
Lifco AB, B Shares | 48,422 | 3,544,567 |
Lindab International AB | 163,584 | 2,525,337 |
MIPS AB | 36,910 | 1,587,830 |
Nibe Industrier AB, B Shares * | 41,677 | 1,003,532 |
Nolato AB, B Shares * | 9,342 | 777,031 |
Samhallsbyggnadsbolaget i Norden AB | 1,659,701 | 4,567,730 |
Sinch AB * | 32,417 | 3,077,429 |
SKF AB, B Shares | 131,400 | 2,689,885 |
Spotify Technology S.A. * | 14,801 | 3,550,612 |
Stillfront Group AB * | 39,278 | 4,616,090 |
Vitrolife AB * | 17,314 | 421,197 |
Volvo AB, B Shares * | 142,900 | 2,777,574 |
70,832,507 | ||
Switzerland 5.4% | ||
Belimo Holding AG | 89 | 661,867 |
Burckhardt Compression Holding AG | 12,284 | 3,075,574 |
Cembra Money Bank AG | 29,849 | 3,316,335 |
Cie Financiere Richemont S.A. | 39,400 | 2,462,649 |
Credit Suisse Group AG | 683,753 | 6,448,728 |
Daetwyler Holding AG | 7,931 | 1,774,321 |
Glencore plc * | 4,057,600 | 8,185,134 |
LafargeHolcim Ltd. * | 35,464 | 1,522,102 |
Logitech International S.A. | 22,671 | 1,907,224 |
Lonza Group AG | 7,823 | 4,740,034 |
Novartis AG | 20,600 | 1,605,205 |
Partners Group Holding AG | 2,972 | 2,675,709 |
SIG Combibloc Group AG * | 207,796 | 4,274,109 |
Sika AG | 19,357 | 4,761,914 |
Softwareone Holding AG * | 26,259 | 646,395 |
Stmicroelectronics N.V. | 91,454 | 2,789,995 |
Straumann Holding AG | 2,426 | 2,532,386 |
Tecan Group AG | 9,806 | 4,653,225 |
Temenos AG | 11,628 | 1,249,680 |
The Swatch Group AG - Bearer Shares | 10,305 | 2,182,299 |
u-blox Holding AG * | 14,953 | 751,690 |
VAT Group AG | 4,483 | 841,077 |
Zur Rose Group AG * | 16,380 | 4,557,656 |
67,615,308 | ||
Taiwan 3.2% | ||
Accton Technology Corp. | 360,000 | 2,615,504 |
Airtac International Group | 203,000 | 5,464,933 |
Alchip Technologies Ltd. | 153,000 | 2,596,427 |
ASPEED Technology, Inc. | 40,000 | 1,935,980 |
Chailease Holding Co., Ltd. | 776,714 | 3,773,190 |
Genius Electronic Optical Co., Ltd. | 126,000 | 2,476,710 |
Globalwafers Co. Ltd. | 44,000 | 640,740 |
Land Mark Optoelectronics Corp. | 79,000 | 731,904 |
MediaTek, Inc. | 200,000 | 4,754,052 |
Merida Industry Co., Ltd. | 464,000 | 4,523,762 |
Nien Made Enterprise Co., Ltd. | 228,000 | 2,570,501 |
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 88,561 | 7,427,611 |
39,511,314 | ||
Security | Number of Shares | Value ($) |
Thailand 0.6% | ||
Airports of Thailand plc | 241,400 | 400,817 |
Carabao Group plc | 136,900 | 480,967 |
Sea Ltd. ADR * | 24,041 | 3,791,266 |
Sri Trang Gloves Thailand PCL * | 743,100 | 2,181,556 |
6,854,606 | ||
United Kingdom 11.6% | ||
3i Group plc | 90,961 | 1,136,075 |
Abcam plc | 23,166 | 442,070 |
Ashtead Group plc | 125,871 | 4,548,639 |
ASOS plc * | 36,804 | 2,099,803 |
Assura plc | 759,133 | 749,394 |
Avast plc | 411,221 | 2,527,055 |
AVEVA Group plc | 17,806 | 988,372 |
Big Yellow Group plc | 48,878 | 696,557 |
boohoo Group plc * | 625,176 | 2,191,056 |
Bunzl plc | 33,400 | 1,038,281 |
Cineworld Group plc | 1,452,135 | 537,077 |
CNH Industrial N.V. * | 825,892 | 6,403,698 |
Coats Group plc * | 3,610,571 | 2,657,934 |
Compass Group plc | 345,240 | 4,725,553 |
ContourGlobal plc | 1,361,684 | 3,406,285 |
Croda International plc | 18,533 | 1,448,523 |
Diploma plc | 168,066 | 4,839,537 |
Electrocomponents plc | 414,979 | 3,643,437 |
Endava plc * | 61,029 | 3,899,753 |
Equiniti Group plc * | 1,576,367 | 2,108,852 |
Experian plc | 107,264 | 3,929,497 |
Ferguson plc | 8,635 | 857,636 |
Fevertree Drinks plc | 57,887 | 1,511,101 |
Future plc | 126,960 | 3,264,198 |
G4S plc * | 909,100 | 2,397,223 |
Games Workshop Group plc | 22,975 | 3,088,676 |
Greggs plc * | 26,686 | 445,679 |
Halma plc | 88,294 | 2,709,530 |
Hill & Smith Holdings plc | 180,599 | 2,808,675 |
HomeServe plc | 121,058 | 1,734,931 |
Howden Joinery Group plc * | 264,830 | 2,186,396 |
IMI plc | 79,293 | 1,063,204 |
Intermediate Capital Group plc | 224,877 | 3,415,729 |
Intertek Group plc | 21,173 | 1,525,107 |
JD Sports Fashion plc | 242,333 | 2,331,359 |
Liberty Global plc, Class A * | 137,000 | 2,600,260 |
Liberty Global plc, Class C * | 26,239 | 489,620 |
Lloyds Banking Group plc * | 22,985,500 | 8,369,173 |
London Stock Exchange Group plc | 30,251 | 3,260,992 |
Natwest Group plc * | 2,019,400 | 3,255,993 |
Ocado Group plc * | 78,908 | 2,326,989 |
Prudential plc | 256,200 | 3,133,453 |
Renishaw plc * | 10,433 | 756,929 |
Rentokil Initial plc * | 350,855 | 2,388,694 |
Rolls-Royce Holdings plc * | 658,200 | 609,207 |
Rotork plc | 248,446 | 905,202 |
Schroders plc | 74,133 | 2,511,438 |
Schroders plc, Non-Voting Shares | 1,100 | 26,164 |
Segro plc | 178,200 | 2,082,212 |
Signature Aviation plc | 397,418 | 1,216,966 |
Smiths Group plc | 80,800 | 1,392,183 |
Softcat plc | 35,613 | 519,153 |
Spectris plc | 89,296 | 2,865,979 |
Spirax-Sarco Engineering plc | 15,951 | 2,331,931 |
Security | Number of Shares | Value ($) |
SSP Group plc | 647,797 | 1,568,647 |
The Weir Group plc * | 161,751 | 3,004,969 |
Trainline plc * | 75,985 | 270,902 |
Tritax Big Box REIT plc | 2,346,989 | 4,762,001 |
Ultra Electronics Holdings plc | 82,047 | 2,001,856 |
Vesuvius plc | 296,136 | 1,531,786 |
Victrex plc | 141,603 | 3,383,646 |
WPP plc | 367,800 | 2,937,723 |
143,860,960 | ||
United States 1.0% | ||
Amazon.com, Inc. * | 1,035 | 3,142,415 |
Illumina, Inc. * | 5,728 | 1,676,586 |
NVIDIA Corp. | 2,329 | 1,167,667 |
Tesla, Inc. * | 15,474 | 6,004,531 |
11,991,199 | ||
Total Common Stock | ||
(Cost $936,035,960) | 1,178,066,522 | |
Preferred Stock 0.2% of net assets | ||
Brazil 0.2% | ||
Randon SA Implementos e Participacoes | 1,110,800 | 2,456,636 |
Germany 0.0% | ||
Henkel AG & Co. KGaA | 5,400 | 525,477 |
Total Preferred Stock | ||
(Cost $3,069,688) | 2,982,113 | |
Rights 0.1% of net assets | ||
United Kingdom 0.1% | ||
Rolls-Royce Holdings PLC expires 11/11/20 * | 2,278,333 | 1,151,116 |
Total Rights | ||
(Cost $4,652,904) | 1,151,116 | |
Other Investment Company 1.2% of net assets | ||
Money Market Fund 1.2% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 14,515,883 | 14,515,883 |
Total Other Investment Company | ||
(Cost $14,515,883) | 14,515,883 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI EAFE Index, expires 12/18/20 | 477 | 42,546,015 | (372,733) |
Settlement Date | Counterparty | Currency to be Received | Amount of Currency to be Received | Currency to be Delivered | Amount of Currency to be Delivered | Unrealized Depreciation ($) | ||||||
Forward Foreign Currency Exchange Contract | ||||||||||||
12/16/2020 | State Street Bank & Trust Co. | USD | 2,003,471 | CHF | 1,893,000 | (63,783) |
* | Non-income producing security. |
(a) | Securities are traded on separate exchanges for the same entity. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
ADR — | American Depositary Receipt |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
CHF — | Swiss franc |
USD — | U.S. dollar |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $— | $348,317,989 | $— | $348,317,989 | |
Argentina | 13,389,715 | — | — | 13,389,715 | |
Australia | 2,113,760 | 59,260,182 | — | 61,373,942 | |
Brazil | 12,543,098 | — | — | 12,543,098 | |
Canada | 71,767,098 | — | — | 71,767,098 | |
China | 22,107,262 | 82,919,452 | — | 105,026,714 | |
Denmark | 2,569,580 | 29,184,596 | — | 31,754,176 | |
France | 2,588,796 | 76,191,201 | — | 78,779,997 | |
Germany | 14,780,312 | 84,401,241 | — | 99,181,553 | |
Ireland | 8,377,246 | 2,303,897 | — | 10,681,143 | |
Israel | 11,076,282 | — | — | 11,076,282 | |
Mexico | 2,125,920 | — | — | 2,125,920 | |
Netherlands | 4,327,577 | 39,324,546 | — | 43,652,123 | |
Norway | 2,115,640 | 9,834,114 | — | 11,949,754 | |
Panama | 1,591,843 | — | — | 1,591,843 | |
Portugal | — | — | — * | — | |
Russia | 1,804,589 | — | — | 1,804,589 | |
Sweden | 7,161,108 | 63,671,399 | — | 70,832,507 | |
Taiwan | 8,159,515 | 31,351,799 | — | 39,511,314 | |
Thailand | 6,854,606 | — | — | 6,854,606 | |
United Kingdom | 9,718,362 | 134,142,598 | — | 143,860,960 | |
United States | 11,991,199 | — | — | 11,991,199 | |
Preferred Stock1 | — | 525,477 | — | 525,477 | |
Brazil | 2,456,636 | — | — | 2,456,636 | |
Rights 1 | 1,151,116 | — | — | 1,151,116 | |
Other Investment Company1 | 14,515,883 | — | — | 14,515,883 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Liabilities | |||||
Futures Contracts2 | (372,733) | — | — | (372,733) | |
Forward Foreign Currency Exchange Contracts2 | — | (63,783) | — | (63,783) | |
Total | $234,914,410 | $961,364,708 | $— | $1,196,279,118 |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2020. |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts and forward foreign currency exchange contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $958,274,435) | $1,196,715,634 | |
Foreign currency, at value (cost $611,251) | 617,118 | |
Deposit with broker for futures contracts | 2,510,640 | |
Receivables: | ||
Investments sold | 50,085,496 | |
Foreign tax reclaims | 1,006,000 | |
Dividends | 916,798 | |
Fund shares sold | 81,139 | |
Prepaid expenses | + | 18,686 |
Total assets | 1,251,951,511 | |
Liabilities | ||
Payables: | ||
Investments bought | 6,376,794 | |
Investment adviser and administrator fees | 1,231,386 | |
Shareholder service fees | 180,861 | |
Fund shares redeemed | 722,589 | |
Variation margin on futures contracts | 148,950 | |
Unrealized depreciation on forward foreign currency exchange contracts | 63,783 | |
Accrued expenses | + | 521,717 |
Total liabilities | 9,246,080 | |
Net Assets | ||
Total assets | 1,251,951,511 | |
Total liabilities | – | 9,246,080 |
Net assets | $1,242,705,431 | |
Net Assets by Source | ||
Capital received from investors | 951,697,683 | |
Total distributable earnings | 291,007,748 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,242,705,431 | 50,984,395 | $24.37 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $1,703,441) | $16,215,421 | |
Expenses | ||
Investment adviser and administrator fees | 16,485,323 | |
Shareholder service fees | 2,063,304 | |
Custodian fees | 501,594 | |
Portfolio accounting fees | 162,283 | |
Professional fees | 56,064* | |
Shareholder reports | 53,270 | |
Registration fees | 40,326 | |
Transfer agent fees | 23,467 | |
Independent trustees’ fees | 15,129 | |
Other expenses | + | 61,599 |
Total expenses | 19,462,359 | |
Expense reduction by CSIM and its affiliates | – | 3,302,570* |
Net expenses | – | 16,159,789 |
Net investment income | 55,632 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 88,551,925 | |
Net realized gains on futures contracts | 710,289 | |
Net realized losses on foreign currency transactions | (58,655) | |
Net realized losses on forward foreign currency exchange contracts | + | (18,397) |
Net realized gains | 89,185,162 | |
Net change in unrealized appreciation (depreciation) on investments | 24,050,690 | |
Net change in unrealized appreciation (depreciation) on futures contracts | (2,299,368) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | 86,075 | |
Net change in unrealized appreciation (depreciation) on forward foreign currency exchange contracts | + | (79,393) |
Net change in unrealized appreciation (depreciation) | + | 21,758,004 |
Net realized and unrealized gains | 110,943,166 | |
Increase in net assets resulting from operations | $110,998,798 |
* | Includes professional fees of $257 associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2(d) and 4 for additional information. |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $55,632 | $18,495,360 | ||
Net realized gains (losses) | 89,185,162 | (5,592,579) | ||
Net change in unrealized appreciation (depreciation) | + | 21,758,004 | 125,000,030 | |
Increase in net assets from operations | 110,998,798 | 137,902,811 | ||
Distributions to Shareholders1 | ||||
Investor Shares | — | (34,719,762) | ||
Select Shares | + | (27,899,553) | (99,317,431) | |
Total distributions | ($27,899,553) | ($134,037,193) |
Transactions in Fund Shares1 | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares Sold | ||||||||
Investor Shares | — | $— | 103,775 | $2,181,854 | ||||
Select Shares | + | 4,963,270 | 95,437,857 | 21,106,679 | 454,485,861 | |||
Total shares sold | 4,963,270 | $95,437,857 | 21,210,454 | $456,667,715 | ||||
Shares Reinvested | ||||||||
Investor Shares | — | $— | 1,583,820 | $30,947,842 | ||||
Select Shares | + | 891,003 | 21,116,755 | 3,532,129 | 68,841,189 | |||
Total shares reinvested | 891,003 | $21,116,755 | 5,115,949 | $99,789,031 | ||||
Shares Redeemed | ||||||||
Investor Shares | — | $— | (19,296,537) | ($416,594,739) | ||||
Select Shares | + | (16,594,568) | (369,846,702) | (12,155,331) | (261,429,704) | |||
Total shares redeemed | (16,594,568) | ($369,846,702) | (31,451,868) | ($678,024,443) | ||||
Net transactions in fund shares | (10,740,295) | ($253,292,090) | (5,125,465) | ($121,567,697) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 61,724,690 | $1,412,898,276 | 66,850,155 | $1,530,600,355 | ||||
Total decrease | + | (10,740,295) | (170,192,845) | (5,125,465) | (117,702,079) | |||
End of period | 50,984,395 | $1,242,705,431 | 61,724,690 | $1,412,898,276 |
1 | Effective February 26, 2019, all outstanding Investor Shares (17,685,944 shares valued at $382,997,961) were consolidated into the Select Shares, resulting in a single class of shares of the fund. |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Laudus International MarketMasters Fund | Schwab Target 2040 Fund |
Schwab S&P 500 Index Fund | Schwab Target 2045 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2050 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2055 Fund |
Schwab U.S. Large-Cap Growth Index Fund | Schwab Target 2060 Fund |
Schwab U.S. Large-Cap Value Index Fund | Schwab Fundamental US Large Company Index Fund |
Schwab U.S. Mid-Cap Index Fund | Schwab Fundamental US Small Company Index Fund |
Schwab International Index Fund® | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2010 Index Fund |
Schwab Balanced Fund | Schwab Target 2015 Index Fund |
Schwab Core Equity Fund | Schwab Target 2020 Index Fund |
Schwab Dividend Equity Fund | Schwab Target 2025 Index Fund |
Schwab Large-Cap Growth Fund | Schwab Target 2030 Index Fund |
Schwab Small-Cap Equity Fund | Schwab Target 2035 Index Fund |
Schwab Hedged Equity Fund | Schwab Target 2040 Index Fund |
Schwab Health Care Fund | Schwab Target 2045 Index Fund |
Schwab International Core Equity Fund | Schwab Target 2050 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2020 Fund | Schwab Monthly Income Fund - Moderate Payout |
Schwab Target 2025 Fund | Schwab Monthly Income Fund - Enhanced Payout |
Schwab Target 2030 Fund | Schwab Monthly Income Fund - Maximum Payout |
Schwab Target 2035 Fund |
2. Significant Accounting Policies:
4. Affiliates and Affiliated Transactions:
First $500 million | 1.29% |
$500 million to $1 billion | 1.275% |
Over $1 billion | 1.25% |
Underlying Fund | |
Schwab Monthly Income Fund - Enhanced Payout | 0.6% |
Schwab Monthly Income Fund - Maximum Payout | 0.4% |
Schwab Monthly Income Fund - Moderate Payout | 0.4% |
Schwab Target 2010 Fund | 0.3% |
Schwab Target 2015 Fund | 0.4% |
Schwab Target 2020 Fund | 3.2% |
Schwab Target 2025 Fund | 4.6% |
Schwab Target 2030 Fund | 9.1% |
Schwab Target 2035 Fund | 5.1% |
Schwab Target 2040 Fund | 11.3% |
Schwab Target 2045 Fund | 2.2% |
Schwab Target 2050 Fund | 2.4% |
Schwab Target 2055 Fund | 1.4% |
Schwab Target 2060 Fund | 0.3% |
6. Borrowing from Banks:
7. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities | |
$795,709,915 | $1,078,652,515 |
8. Derivatives:
Asset Derivatives | Fair Value |
Equity Index Futures Contracts1 | $— |
Forward Foreign Currency Exchange Contracts2 | — |
Liability Derivatives | Fair Value |
Equity Index Futures Contracts3 | ($372,733) |
Forward Foreign Currency Exchange Contracts4 | (63,783) |
1 | Includes cumulative unrealized appreciation of futures contracts as reported in the Portfolio Holdings. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
2 | Statement of Assets and Liabilities location: Unrealized appreciation on forward foreign currency exchange contracts. |
3 | Includes cumulative unrealized depreciation of futures contracts as reported in the Portfolio Holdings. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
4 | Statement of Assets and Liabilities location: Unrealized depreciation on forward foreign currency exchange contracts. |
Equity Index Futures Contracts | |
Realized gains1 | $710,289 |
Net change in unrealized appreciation (depreciation)2 | (2,299,368) |
Forward Foreign Currency Exchange Contracts | |
Realized losses1 | ($18,397) |
Net change in unrealized appreciation (depreciation)2 | (79,393) |
1 | Statement of Operations location: Net realized gains on futures contracts and net realized losses on forward foreign currency exchange contracts. |
2 | Statement of Operations location: Net change in unrealized appreciation (depreciation) on futures contracts and net change in unrealized appreciation (depreciation) on forward foreign currency exchange contracts. |
Counterparty | Gross Amounts of Liabilities Presented in the Statement of Assets and Liabilities | Financial Instruments Available for Offset | Cash Collateral Pledged | Net Amounts(a) | |||
State Street Bank & Trust Co. | ($63,783) | $— | $— | ($63,783) | |||
Total | ($63,783) | $— | $— | ($63,783) |
a | Represents the net amount due to the counterparty in the event of default. |
9. Federal Income Taxes:
Tax cost | $990,920,149 |
Gross unrealized appreciation | $318,558,295 |
Gross unrealized depreciation | (113,199,326) |
Net unrealized appreciation (depreciation) | $205,358,969 |
Undistributed long-term capital gains | $85,550,910 |
Net unrealized appreciation (depreciation) on investments | 205,358,969 |
Net other unrealized appreciation (depreciation) | 97,869 |
Total | $291,007,748 |
Current fiscal year end distributions | |
Ordinary income | $25,483,603 |
Long-term capital gains | 2,415,950 |
Prior fiscal year end distributions | |
Ordinary income | $18,404,188 |
Long-term capital gains | 115,633,005 |
10. Independent Registered Public Accounting Firm:
Denver, Colorado
December 16, 2020
1. | the nature, extent and quality of the services provided to the Fund under the Agreements, including the resources of CSIM and its affiliates, and the Sub-Advisers, dedicated to the Fund; |
2. | the Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | the Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to CSIM and its affiliates, as well as the profitability of the Sub-Advisers; and |
5. | the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreements reflect those economies of scale for the benefit of Fund investors. |
1 | The meeting on June 9, 2020 was held telephonically in reliance on exemptive relief from the in-person voting requirement under the 1940 Act as provided by the Securities and Exchange Commission. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 100 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 100 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 100 | None |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting). | 100 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 100 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 100 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 100 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 100 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors). | 100 | Director (2012 – present), Eaton Corporation plc |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 100 | Director (2008 – present), The Charles Schwab Corporation |
Interested Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jonathan de St. Paer2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. | 100 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 100 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Mr. de St. Paer and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Laudus Funds®
New Notice Regarding Shareholder Report Delivery Options |
Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/schwabfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically. |
If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request: |
• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing; |
• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or |
• If owned directly through a fund by calling 1-800-407-0256. |
If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action. |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab Core Equity Fund (Ticker Symbol: SWANX) | 4.65% |
S&P 500® Index | 9.71% |
Fund Category: Morningstar Large Blend1 | 6.30% |
Performance Details | pages 7-9 |
Schwab Dividend Equity Fund2 (Ticker Symbol: SWDSX) | -13.30% |
Russell 1000® Value Index | -7.57% |
Fund Category: Morningstar Large Value1 | -7.37% |
Performance Details | pages 10-12 |
Schwab Large-Cap Growth Fund (Ticker Symbol: SWLSX) | 21.60% |
Russell 1000® Growth Index | 29.22% |
Fund Category: Morningstar Large Growth1 | 25.92% |
Performance Details | pages 13-15 |
Schwab Small-Cap Equity Fund (Ticker Symbol: SWSCX) | -9.86% |
Russell 2000® Index | -0.14% |
Fund Category: Morningstar Small Blend1 | -6.45% |
Performance Details | pages 16-18 |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab Hedged Equity Fund (Ticker Symbol: SWHEX) | -9.33% |
S&P 500® Index | 9.71% |
Fund Category: Morningstar Long-Short Equity1 | 2.03% |
Performance Details | pages 19-21 |
Schwab Health Care Fund2 (Ticker Symbol: SWHFX) | 9.57% |
Dow Jones Global Health Care Index | 11.63% |
Fund Category: Morningstar Health1 | 22.92% |
Performance Details | pages 22-24 |
Schwab International Core Equity Fund2 (Ticker Symbol: SICNX) | -6.01% |
MSCI EAFE® Index (Net)3 | -6.86% |
Fund Category: Morningstar Foreign Large Blend1 | -4.19% |
Performance Details | pages 25-27 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
2 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
President of Charles Schwab
Investment Management, Inc.
and the funds covered
in this report.
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Jonas Svallin, CFA, Vice President and Head of Active Equities, has overall responsibility for all aspects of the management of the funds and leads the Active Equities portfolio management and research team. Prior to joining CSIM in 2012, Mr. Svallin spent nearly three years as a partner and a director of quantitative analytics and research at Fiduciary Research & Consulting, where he provided oversight of quantitative analytics and risk management efforts. From 2003 to 2009, Mr. Svallin was a principal and head portfolio manager at Algert Coldiron Investors LLC (now known as Algert Global). Prior to joining Algert, Mr. Svallin worked as a quantitative research associate at RCM Capital Management (now known as Allianz Global Investors) and a senior consultant at FactSet Research Systems. |
Wei Li, Ph.D., CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2012, Ms. Li spent more than ten years at Barclays Global Investors (now known as BlackRock), where she held a number of positions. From 2001 to 2009, she worked in various roles in the global advanced active group, including portfolio management and quantitative research for both U.S. and international equity markets. After 2009, she worked in the defined contribution research and product development area for almost two years. |
Iain Clayton, CFA, FRM, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Core Equity Fund, Schwab International Core Equity Fund and Schwab Health Care Fund. Prior to joining CSIM in 2013, Mr. Clayton spent more than five years at SSI Investment Management, where he was a portfolio manager and director of quantitative research. In these roles, Mr. Clayton co-managed multiple investment strategies and developed quantitative models and valuation approaches. From 2004 to 2008, he worked as a portfolio manager and director at RCM Capital Management (now known as Allianz Global Investors) and helped manage various equity portfolios and developed fundamental-based stock selection models. Prior to that, he was a vice president at Eureka Investment Advisors for almost three years and also served as a senior quantitative analyst and assistant portfolio manager. He has also worked as a quantitative research analyst at RCM Capital Management. |
Holly Emerson, CFA, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Large-Cap Growth Fund and the Schwab Dividend Equity Fund. Prior to joining CSIM in 2014, Ms. Emerson spent nearly 10 years at Algert Coldiron Investors LLC (now known as Algert Global), a quantitative market-neutral hedge fund manager. She held a number of positions at Algert, including assistant portfolio manager and director of operations. In her various roles, she acted as the lead portfolio manager for the Canadian fund, conducted macroeconomic research, and managed relationships with prime brokerage investment banks. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Core Equity Fund (7/1/96) | 4.65% | 8.59% | 11.24% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Fund Category: Morningstar Large Blend3 | 6.30% | 9.64% | 11.28% |
Fund Expense Ratio4: 0.73% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 7, 2012, the Schwab Premier Equity Fund merged into the fund. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual expense ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 137 |
Weighted Average Market Cap (millions) | $478,586 |
Price/Earnings Ratio (P/E) | 21.1 |
Price/Book Ratio (P/B) | 3.6 |
Portfolio Turnover Rate | 97% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Dividend Equity Fund (9/2/03) | -13.30% | 2.63% | 7.60% |
Russell 1000® Value Index | -7.57% | 5.82% | 9.48% |
Dividend Equity Spliced Index | -7.57% | 5.82% | 9.68% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Fund Category: Morningstar Large Value3 | -7.37% | 5.38% | 8.64% |
Fund Expense Ratio4: 0.89% |
30-Day SEC Yield | 2.12% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The fund’s performance relative to the index may be affected by fair-value pricing. See financial note 2 for more information. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual expense ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 183 |
Weighted Average Market Cap (millions) | $126,933 |
Price/Earnings Ratio (P/E) | 15.0 |
Price/Book Ratio (P/B) | 2.0 |
Portfolio Turnover Rate | 70% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Large-Cap Growth Fund (10/3/05) | 21.60% | 12.91% | 13.46% |
Russell 1000® Growth Index | 29.22% | 17.32% | 16.31% |
Fund Category: Morningstar Large Growth2 | 25.92% | 14.64% | 14.19% |
Fund Expense Ratios3: Net 0.99%; Gross 1.03% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 108 |
Weighted Average Market Cap (millions) | $656,981 |
Price/Earnings Ratio (P/E) | 31.7 |
Price/Book Ratio (P/B) | 9.2 |
Portfolio Turnover Rate | 65% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Small-Cap Equity Fund (7/1/03) | -9.86% | 3.16% | 9.19% |
Russell 2000® Index | -0.14% | 7.27% | 9.64% |
Fund Category: Morningstar Small Blend2 | -6.45% | 5.00% | 8.48% |
Fund Expense Ratio3: 1.09% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual expense ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 327 |
Weighted Average Market Cap (millions) | $2,559 |
Price/Earnings Ratio (P/E) | 12.2 |
Price/Book Ratio (P/B) | 1.8 |
Portfolio Turnover Rate | 113% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Hedged Equity Fund (9/3/02) | -9.33% | 1.04% | 4.44% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Fund Category: Morningstar Long-Short Equity2 | 2.03% | 3.18% | 4.57% |
Fund Expense Ratios3: Net 1.92%; Gross 1.94% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | |
Long Holdings | 193 |
Short Holdings | 113 |
Weighted Average Market Cap (millions) | |
Long Holdings | $301,517 |
Short Holdings | $11,571 |
Price/Earnings Ratio (P/E) | |
Long Holdings | 17.0 |
Short Holdings | 23.9 |
Price/Book Ratio (P/B) | |
Long Holdings | 2.7 |
Short Holdings | 2.6 |
Portfolio Turnover Rate including short sales | 168% |
Portfolio Turnover Rate excluding short sales | 75% |
1 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Health Care Fund (7/3/00) | 9.57% | 7.76% | 13.79% |
Dow Jones Global Health Care Index | 11.63% | 8.60% | 12.86% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Fund Category: Morningstar Health3 | 22.92% | 9.21% | 14.90% |
Fund Expense Ratio4: 0.80% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The fund’s performance relative to the index may be affected by fair-value pricing. See financial note 2 for more information. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual expense ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 91 |
Weighted Average Market Cap (millions) | $123,222 |
Price/Earnings Ratio (P/E) | 24.8 |
Price/Book Ratio (P/B) | 5.3 |
Portfolio Turnover Rate | 73% |
1 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab International Core Equity Fund (5/30/08) | -6.01% | 1.61% | 4.42% |
MSCI EAFE® Index (Net)3 | -6.86% | 2.85% | 3.82% |
Fund Category: Morningstar Foreign Large Blend4 | -4.19% | 3.23% | 3.65% |
Fund Expense Ratios5: Net 0.86%; Gross 0.87% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The fund’s performance relative to the index may be affected by fair-value pricing. See financial note 2 for more information. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 166 |
Weighted Average Market Cap (millions) | $81,425 |
Price/Earnings Ratio (P/E) | 17.7 |
Price/Book Ratio (P/B) | 2.1 |
Portfolio Turnover Rate | 97% |
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/20 | Ending Account Value (Net of Expenses) at 10/31/20 | Expenses Paid During Period 5/1/20-10/31/202 | |
Schwab Core Equity Fund | ||||
Actual Return | 0.73% | $1,000.00 | $1,103.20 | $ 3.86 |
Hypothetical 5% Return | 0.73% | $1,000.00 | $1,021.43 | $ 3.71 |
Schwab Dividend Equity Fund | ||||
Actual Return | 0.89% | $1,000.00 | $1,039.10 | $ 4.56 |
Hypothetical 5% Return | 0.89% | $1,000.00 | $1,020.63 | $ 4.52 |
Schwab Large-Cap Growth Fund | ||||
Actual Return | 0.99% | $1,000.00 | $1,176.00 | $ 5.42 |
Hypothetical 5% Return | 0.99% | $1,000.00 | $1,020.12 | $ 5.03 |
Schwab Small-Cap Equity Fund | ||||
Actual Return | 1.09% | $1,000.00 | $1,153.60 | $ 5.90 |
Hypothetical 5% Return | 1.09% | $1,000.00 | $1,019.62 | $ 5.53 |
Schwab Hedged Equity Fund3 | ||||
Actual Return | 1.98% | $1,000.00 | $ 969.40 | $ 9.80 |
Hypothetical 5% Return | 1.98% | $1,000.00 | $1,015.15 | $10.03 |
Schwab Health Care Fund | ||||
Actual Return | 0.80% | $1,000.00 | $1,036.30 | $ 4.09 |
Hypothetical 5% Return | 0.80% | $1,000.00 | $1,021.08 | $ 4.06 |
Schwab International Core Equity Fund | ||||
Actual Return | 0.86% | $1,000.00 | $1,117.80 | $ 4.58 |
Hypothetical 5% Return | 0.86% | $1,000.00 | $1,020.78 | $ 4.37 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by 366 days of the fiscal year. |
3 | Schwab Hedged Equity Fund’s expense ratio includes non-recurring interest expense, stock loan fees and dividend expenses paid on securities sold short. |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $21.87 | $22.40 | $24.36 | $19.65 | $23.10 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.20 | 0.21 | 0.26 | 0.34 | 0.38 | |
Net realized and unrealized gains (losses) | 0.82 | 1.99 | 0.41 | 4.71 | (0.52) | |
Total from investment operations | 1.02 | 2.20 | 0.67 | 5.05 | (0.14) | |
Less distributions: | ||||||
Distributions from net investment income | (0.20) | (0.27) | (0.34) | (0.34) | (0.36) | |
Distributions from net realized gains | (0.45) | (2.46) | (2.29) | — | (2.95) | |
Total distributions | (0.65) | (2.73) | (2.63) | (0.34) | (3.31) | |
Net asset value at end of period | $22.24 | $21.87 | $22.40 | $24.36 | $19.65 | |
Total return | 4.65% | 12.02% | 2.71% | 26.00% | (0.50%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% | |
Gross operating expenses | 0.73% | 0.73% | 0.73% | 0.74% | 0.73% | |
Net investment income (loss) | 0.91% | 1.01% | 1.12% | 1.53% | 1.93% | |
Portfolio turnover rate | 97% | 98% | 101% | 86% | 80% | |
Net assets, end of period (x 1,000,000) | $1,957 | $2,182 | $2,138 | $2,353 | $2,075 | |
Security | Number of Shares | Value ($) |
Common Stock 99.2% of net assets | ||
Automobiles & Components 0.2% | ||
General Motors Co. | 89,688 | 3,096,927 |
Banks 2.8% | ||
Bank of America Corp. | 342,920 | 8,127,204 |
Citigroup, Inc. | 171,497 | 7,103,406 |
Citizens Financial Group, Inc. | 315,794 | 8,605,387 |
Comerica, Inc. | 66,755 | 3,038,020 |
JPMorgan Chase & Co. | 292,604 | 28,686,896 |
55,560,913 | ||
Capital Goods 4.6% | ||
AGCO Corp. | 79,542 | 6,127,120 |
Allison Transmission Holdings, Inc. | 134,182 | 4,850,679 |
Dover Corp. | 59,138 | 6,547,168 |
Illinois Tool Works, Inc. | 116,396 | 22,799,649 |
Lockheed Martin Corp. | 50,213 | 17,581,078 |
Masco Corp. | 135,174 | 7,245,326 |
Otis Worldwide Corp. | 101,304 | 6,207,909 |
Rexnord Corp. | 202,295 | 6,489,624 |
Rockwell Automation, Inc. | 53,201 | 12,615,021 |
90,463,574 | ||
Commercial & Professional Services 1.3% | ||
Cintas Corp. | 17,279 | 5,435,109 |
Republic Services, Inc. | 126,980 | 11,195,827 |
Robert Half International, Inc. | 190,916 | 9,677,532 |
26,308,468 | ||
Consumer Durables & Apparel 3.1% | ||
Carter's, Inc. | 23,743 | 1,933,867 |
Deckers Outdoor Corp. * | 67,464 | 17,093,354 |
Hanesbrands, Inc. | 474,053 | 7,618,032 |
Lululemon Athletica, Inc. * | 24,754 | 7,903,705 |
NIKE, Inc., Class B | 106,891 | 12,835,471 |
PulteGroup, Inc. | 163,900 | 6,680,564 |
Tapestry, Inc. | 85,832 | 1,908,045 |
YETI Holdings, Inc. * | 104,636 | 5,177,389 |
61,150,427 | ||
Consumer Services 1.2% | ||
Domino's Pizza, Inc. | 22,061 | 8,346,117 |
Hilton Worldwide Holdings, Inc. | 131,076 | 11,509,784 |
Papa John's International, Inc. | 42,258 | 3,236,963 |
23,092,864 | ||
Diversified Financials 3.6% | ||
Affiliated Managers Group, Inc. | 107,441 | 8,097,828 |
Ameriprise Financial, Inc. | 35,840 | 5,764,147 |
Capital One Financial Corp. | 164,317 | 12,008,286 |
Jefferies Financial Group, Inc. | 406,530 | 7,931,400 |
OneMain Holdings, Inc. | 166,680 | 5,815,465 |
Security | Number of Shares | Value ($) |
S&P Global, Inc. | 85,869 | 27,712,503 |
T. Rowe Price Group, Inc. | 22,075 | 2,796,020 |
The Bank of New York Mellon Corp. | 9,334 | 320,716 |
70,446,365 | ||
Energy 1.0% | ||
Chevron Corp. | 79,373 | 5,516,424 |
ConocoPhillips | 256,455 | 7,339,742 |
Valero Energy Corp. | 172,269 | 6,651,306 |
19,507,472 | ||
Food & Staples Retailing 1.9% | ||
Koninklijke Ahold Delhaize N.V. ADR | 262,981 | 7,247,756 |
The Kroger Co. | 485,050 | 15,623,460 |
Walmart, Inc. | 99,934 | 13,865,843 |
36,737,059 | ||
Food, Beverage & Tobacco 3.7% | ||
Altria Group, Inc. | 180,219 | 6,502,302 |
Campbell Soup Co. | 163,857 | 7,647,206 |
General Mills, Inc. | 450,081 | 26,608,789 |
Monster Beverage Corp. * | 74,992 | 5,742,137 |
Nestle S.A. ADR | 93,492 | 10,496,347 |
PepsiCo, Inc. | 40,787 | 5,436,499 |
The JM Smucker Co. | 18,544 | 2,080,637 |
Tyson Foods, Inc., Class A | 128,350 | 7,345,470 |
71,859,387 | ||
Health Care Equipment & Services 6.2% | ||
Anthem, Inc. | 66,812 | 18,226,313 |
Cardinal Health, Inc. | 94,952 | 4,347,852 |
Cerner Corp. | 87,531 | 6,135,048 |
Edwards Lifesciences Corp. * | 255,978 | 18,351,063 |
Hill-Rom Holdings, Inc. | 114,109 | 10,391,907 |
Hologic, Inc. * | 215,331 | 14,819,079 |
IDEXX Laboratories, Inc. * | 24,460 | 10,391,097 |
McKesson Corp. | 25,855 | 3,813,354 |
Medtronic plc | 69,989 | 7,038,794 |
ResMed, Inc. | 23,585 | 4,526,905 |
UnitedHealth Group, Inc. | 56,460 | 17,228,204 |
West Pharmaceutical Services, Inc. | 22,411 | 6,097,361 |
121,366,977 | ||
Household & Personal Products 1.2% | ||
The Procter & Gamble Co. | 172,753 | 23,684,436 |
Insurance 4.1% | ||
Aflac, Inc. | 226,521 | 7,690,388 |
Fidelity National Financial, Inc. | 508,327 | 15,905,552 |
MetLife, Inc. | 539,052 | 20,403,118 |
Security | Number of Shares | Value ($) |
The Allstate Corp. | 277,814 | 24,655,992 |
The Hartford Financial Services Group, Inc. | 312,617 | 12,042,007 |
80,697,057 | ||
Materials 3.1% | ||
Berry Global Group, Inc. * | 241,886 | 11,279,144 |
Louisiana-Pacific Corp. | 196,524 | 5,616,656 |
RPM International, Inc. | 85,378 | 7,228,955 |
The Scotts Miracle-Gro Co. | 12,757 | 1,914,188 |
The Sherwin-Williams Co. | 49,944 | 34,360,473 |
60,399,416 | ||
Media & Entertainment 9.4% | ||
Alphabet, Inc., Class A * | 37,070 | 59,909,198 |
Altice USA, Inc., Class A * | 311,515 | 8,395,329 |
Charter Communications, Inc., Class A * | 26,238 | 15,843,029 |
Electronic Arts, Inc. * | 51,123 | 6,126,069 |
Facebook, Inc., Class A * | 272,113 | 71,595,652 |
Nintendo Co., Ltd. ADR | 325,652 | 22,056,410 |
183,925,687 | ||
Pharmaceuticals, Biotechnology & Life Sciences 6.9% | ||
Alexion Pharmaceuticals, Inc. * | 201,559 | 23,207,503 |
Amgen, Inc. | 58,404 | 12,670,164 |
Emergent BioSolutions, Inc. * | 64,390 | 5,793,168 |
Gilead Sciences, Inc. | 71,658 | 4,166,913 |
Johnson & Johnson | 77,660 | 10,647,963 |
Merck & Co., Inc. | 73,101 | 5,497,926 |
Novartis AG ADR | 200,831 | 15,680,884 |
Novo Nordisk A/S ADR | 155,830 | 9,955,979 |
PerkinElmer, Inc. | 33,674 | 4,362,467 |
Regeneron Pharmaceuticals, Inc. * | 17,667 | 9,603,074 |
Roche Holding AG ADR | 361,293 | 14,448,107 |
Thermo Fisher Scientific, Inc. | 23,877 | 11,296,686 |
Vertex Pharmaceuticals, Inc. * | 38,813 | 8,087,077 |
135,417,911 | ||
Real Estate 3.1% | ||
American Tower Corp. | 17,545 | 4,029,209 |
Cousins Properties, Inc. | 185,034 | 4,714,666 |
CyrusOne, Inc. | 113,816 | 8,086,627 |
Host Hotels & Resorts, Inc. | 544,700 | 5,708,456 |
Mid-America Apartment Communities, Inc. | 120,193 | 14,018,110 |
Omega Healthcare Investors, Inc. | 170,936 | 4,924,666 |
SBA Communications Corp. | 68,650 | 19,933,901 |
61,415,635 | ||
Retailing 9.5% | ||
Amazon.com, Inc. * | 36,386 | 110,473,354 |
AutoNation, Inc. * | 145,298 | 8,242,756 |
Best Buy Co., Inc. | 129,833 | 14,482,871 |
Etsy, Inc. * | 14,269 | 1,734,968 |
Lowe's Cos., Inc. | 137,442 | 21,729,580 |
The Home Depot, Inc. | 108,131 | 28,839,619 |
185,503,148 | ||
Semiconductors & Semiconductor Equipment 3.5% | ||
Broadcom, Inc. | 25,529 | 8,925,704 |
Intel Corp. | 255,430 | 11,310,440 |
KLA Corp. | 79,379 | 15,651,951 |
Security | Number of Shares | Value ($) |
NVIDIA Corp. | 53,199 | 26,671,851 |
Teradyne, Inc. | 72,729 | 6,389,243 |
68,949,189 | ||
Software & Services 14.7% | ||
Accenture plc, Class A | 79,652 | 17,277,315 |
Adobe, Inc. * | 65,585 | 29,323,054 |
Booz Allen Hamilton Holding Corp. | 200,383 | 15,730,066 |
Citrix Systems, Inc. | 114,187 | 12,933,961 |
Cognizant Technology Solutions Corp., Class A | 29,426 | 2,101,605 |
DocuSign, Inc. * | 24,597 | 4,974,743 |
Fair Isaac Corp. * | 15,129 | 5,922,247 |
International Business Machines Corp. | 34,309 | 3,830,943 |
Mastercard, Inc., Class A | 142,855 | 41,233,667 |
Microsoft Corp. | 660,062 | 133,642,753 |
VeriSign, Inc. * | 71,448 | 13,625,134 |
Visa, Inc., Class A | 28,562 | 5,190,001 |
Workday, Inc., Class A * | 9,645 | 2,026,607 |
287,812,096 | ||
Technology Hardware & Equipment 8.2% | ||
Apple Inc. | 1,470,288 | 160,055,552 |
Telecommunication Services 2.5% | ||
AT&T, Inc. | 403,493 | 10,902,381 |
Verizon Communications, Inc. | 655,687 | 37,367,602 |
48,269,983 | ||
Transportation 1.1% | ||
Expeditors International of Washington, Inc. | 170,041 | 15,026,523 |
Union Pacific Corp. | 30,946 | 5,483,322 |
20,509,845 | ||
Utilities 2.3% | ||
Exelon Corp. | 268,048 | 10,692,435 |
NextEra Energy, Inc. | 136,348 | 9,982,037 |
NRG Energy, Inc. | 288,449 | 9,120,757 |
OGE Energy Corp. | 136,461 | 4,198,905 |
Portland General Electric Co. | 90,782 | 3,567,733 |
UGI Corp. | 113,198 | 3,660,823 |
Xcel Energy, Inc. | 57,772 | 4,045,773 |
45,268,463 | ||
Total Common Stock | ||
(Cost $1,477,710,457) | 1,941,498,851 | |
Other Investment Company 0.7% of net assets | ||
Money Market Fund 0.7% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (a) | 12,873,240 | 12,873,240 |
Total Other Investment Company | ||
(Cost $12,873,240) | 12,873,240 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
ADR — | American Depositary Receipt |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $1,941,498,851 | $— | $— | $1,941,498,851 | |
Other Investment Company1 | 12,873,240 | — | — | 12,873,240 | |
Total | $1,954,372,091 | $— | $— | $1,954,372,091 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $1,490,583,697) | $1,954,372,091 | |
Deposit with broker for futures contracts | 1,200,000 | |
Receivables: | ||
Dividends | 2,075,422 | |
Fund shares sold | 1,199,628 | |
Foreign tax reclaims | 374,104 | |
Prepaid expenses | + | 18,797 |
Total assets | 1,959,240,042 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 846,539 | |
Shareholder service fees | 436,951 | |
Fund shares redeemed | 915,251 | |
Accrued expenses | + | 136,612 |
Total liabilities | 2,335,353 | |
Net Assets | ||
Total assets | 1,959,240,042 | |
Total liabilities | – | 2,335,353 |
Net assets | $1,956,904,689 | |
Net Assets by Source | ||
Capital received from investors | 1,402,150,952 | |
Total distributable earnings | 554,753,737 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,956,904,689 | 87,997,701 | $22.24 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $337,506) | $33,535,381 | |
Securities on loan, net | + | 181,521 |
Total investment income | 33,716,902 | |
Expenses | ||
Investment adviser and administrator fees | 9,713,496 | |
Shareholder service fees | 5,019,597 | |
Portfolio accounting fees | 70,325 | |
Shareholder reports | 50,932 | |
Professional fees | 42,554 | |
Registration fees | 33,187 | |
Transfer agent fees | 30,539 | |
Independent trustees’ fees | 17,079 | |
Custodian fees | 16,310 | |
Other expenses | + | 26,057 |
Total expenses | 15,020,076 | |
Expense reduction by CSIM and its affiliates | – | 30,539 |
Net expenses | – | 14,989,537 |
Net investment income | 18,727,365 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 79,686,207 | |
Net realized losses on futures contracts | + | (2,012,011) |
Net realized gains | 77,674,196 | |
Net change in unrealized appreciation (depreciation) on investments | + | (9,143,636) |
Net realized and unrealized gains | 68,530,560 | |
Increase in net assets resulting from operations | $87,257,925 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $18,727,365 | $21,633,840 | ||
Net realized gains | 77,674,196 | 45,629,093 | ||
Net change in unrealized appreciation (depreciation) | + | (9,143,636) | 179,996,703 | |
Increase in net assets from operations | 87,257,925 | 247,259,636 | ||
Distributions to Shareholders | ||||
Total distributions | ($63,919,641) | ($258,813,892) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 4,154,672 | $86,639,129 | 11,415,378 | $217,630,660 | ||||
Shares reinvested | 2,083,874 | 46,553,727 | 10,439,291 | 193,753,240 | ||||
Shares redeemed | + | (18,036,297) | (381,670,564) | (17,535,305) | (356,277,403) | |||
Net transactions in fund shares | (11,797,751) | ($248,477,708) | 4,319,364 | $55,106,497 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 99,795,452 | $2,182,044,113 | 95,476,088 | $2,138,491,872 | ||||
Total increase or decrease | + | (11,797,751) | (225,139,424) | 4,319,364 | 43,552,241 | |||
End of period | 87,997,701 | $1,956,904,689 | 99,795,452 | $2,182,044,113 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.07 | $15.43 | $17.21 | $14.39 | $16.43 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.28 | 0.23 | 0.22 | 0.29 | 0.31 | |
Net realized and unrealized gains (losses) | (2.15) | 0.93 | (0.27) | 2.75 | (0.29) | |
Total from investment operations | (1.87) | 1.16 | (0.05) | 3.04 | 0.02 | |
Less distributions: | ||||||
Distributions from net investment income | (0.26) | (0.24) | (0.30) | (0.22) | (0.32) | |
Distributions from net realized gains | (0.80) | (1.28) | (1.43) | — | (1.74) | |
Total distributions | (1.06) | (1.52) | (1.73) | (0.22) | (2.06) | |
Net asset value at end of period | $12.14 | $15.07 | $15.43 | $17.21 | $14.39 | |
Total return | (13.30%) | 8.78% | (0.63%) | 21.19% | 0.26% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.89% | 0.89% | 0.88% | 0.88% | 0.88% | |
Gross operating expenses | 0.90% | 0.89% | 0.88% | 0.88% | 0.89% | |
Net investment income (loss) | 2.16% | 1.58% | 1.36% | 1.78% | 2.18% | |
Portfolio turnover rate | 70% | 70% | 79% | 70% | 74% | |
Net assets, end of period (x 1,000,000) | $577 | $847 | $1,249 | $1,469 | $1,560 | |
Security | Number of Shares | Value ($) |
Common Stock 99.5% of net assets | ||
Automobiles & Components 0.3% | ||
Dorman Products, Inc. * | 6,500 | 580,255 |
Magna International, Inc. | 28,201 | 1,440,002 |
2,020,257 | ||
Banks 7.0% | ||
Australia & New Zealand Banking Group Ltd. | 257,063 | 3,411,388 |
Bank of America Corp. | 201,491 | 4,775,337 |
Citigroup, Inc. | 139,610 | 5,782,646 |
Citizens Financial Group, Inc. | 100,497 | 2,738,543 |
Fifth Third Bancorp | 83,639 | 1,942,098 |
Flagstar Bancorp, Inc. | 187,320 | 5,497,842 |
JPMorgan Chase & Co. | 159,956 | 15,682,086 |
MGIC Investment Corp. | 71,329 | 717,570 |
40,547,510 | ||
Capital Goods 8.6% | ||
ACS Actividades de Construccion y Servicios S.A. | 32,164 | 764,561 |
Allison Transmission Holdings, Inc. | 112,670 | 4,073,021 |
Carlisle Cos., Inc. | 11,377 | 1,409,269 |
CITIC Ltd. | 460,000 | 328,872 |
Crane Co. | 27,973 | 1,419,630 |
Cummins, Inc. | 7,597 | 1,670,505 |
Dover Corp. | 80,358 | 8,896,434 |
Illinois Tool Works, Inc. | 18,181 | 3,561,294 |
Lockheed Martin Corp. | 12,578 | 4,403,935 |
Masco Corp. | 161,752 | 8,669,907 |
Masonite International Corp. * | 21,928 | 1,929,664 |
MSC Industrial Direct Co., Inc., Class A | 19,097 | 1,330,297 |
Mueller Industries, Inc. | 91,500 | 2,647,095 |
Raytheon Technologies Corp. | 53,282 | 2,894,278 |
Rexnord Corp. | 163,766 | 5,253,613 |
SPX Corp. * | 7,500 | 317,925 |
49,570,300 | ||
Commercial & Professional Services 1.7% | ||
CoreLogic, Inc. | 35,500 | 2,731,015 |
ManpowerGroup, Inc. | 70,606 | 4,792,029 |
McGrath RentCorp | 18,330 | 1,046,277 |
Republic Services, Inc. | 15,400 | 1,357,818 |
9,927,139 | ||
Consumer Durables & Apparel 2.8% | ||
Crocs, Inc. * | 39,324 | 2,057,825 |
Hanesbrands, Inc. | 255,469 | 4,105,387 |
Leggett & Platt, Inc. | 18,085 | 754,687 |
Lennar Corp., Class A | 11,838 | 831,383 |
Newell Brands, Inc. | 184,755 | 3,262,773 |
PulteGroup, Inc. | 18,073 | 736,656 |
Security | Number of Shares | Value ($) |
TRI Pointe Group, Inc. * | 162,416 | 2,668,495 |
Wolverine World Wide, Inc. | 55,984 | 1,493,093 |
15,910,299 | ||
Consumer Services 1.0% | ||
Bloomin' Brands, Inc. | 55,758 | 779,497 |
Domino's Pizza, Inc. | 1,584 | 599,259 |
Extended Stay America, Inc. | 88,164 | 1,000,661 |
Hilton Worldwide Holdings, Inc. | 26,336 | 2,312,564 |
Papa John's International, Inc. | 6,348 | 486,257 |
Wyndham Destinations, Inc. | 24,486 | 798,978 |
5,977,216 | ||
Diversified Financials 7.2% | ||
Ameriprise Financial, Inc. | 34,362 | 5,526,441 |
Berkshire Hathaway, Inc., Class B * | 6,180 | 1,247,742 |
BlackRock, Inc. | 1,603 | 960,534 |
Capital One Financial Corp. | 29,000 | 2,119,320 |
Evercore, Inc., Class A | 42,004 | 3,340,998 |
Invesco Ltd. | 48,300 | 633,213 |
Jefferies Financial Group, Inc. | 45,908 | 895,665 |
Lazard Ltd., Class A | 100,729 | 3,391,545 |
Morgan Stanley | 142,603 | 6,866,334 |
Navient Corp. | 464,097 | 3,717,417 |
OneMain Holdings, Inc. | 133,319 | 4,651,500 |
ORIX Corp. | 87,300 | 1,020,994 |
S&P Global, Inc. | 6,748 | 2,177,782 |
State Street Corp. | 20,947 | 1,233,778 |
Synchrony Financial | 32,003 | 800,715 |
T. Rowe Price Group, Inc. | 23,628 | 2,992,723 |
Virtu Financial, Inc., Class A | 9,500 | 203,110 |
41,779,811 | ||
Energy 3.4% | ||
Chevron Corp. | 136,284 | 9,471,738 |
Exxon Mobil Corp. | 191,525 | 6,247,545 |
HollyFrontier Corp. | 28,159 | 521,223 |
Kinder Morgan, Inc. | 71,943 | 856,122 |
Marathon Petroleum Corp. | 36,178 | 1,067,251 |
Valero Energy Corp. | 32,396 | 1,250,810 |
19,414,689 | ||
Food & Staples Retailing 1.5% | ||
Koninklijke Ahold Delhaize N.V. | 74,358 | 2,038,582 |
Sprouts Farmers Market, Inc. * | 15,163 | 288,855 |
The Kroger Co. | 84,569 | 2,723,968 |
Walmart, Inc. | 26,803 | 3,718,916 |
8,770,321 | ||
Food, Beverage & Tobacco 4.5% | ||
Altria Group, Inc. | 166,301 | 6,000,140 |
Flowers Foods, Inc. | 241,911 | 5,704,261 |
General Mills, Inc. | 77,812 | 4,600,245 |
Ingredion, Inc. | 10,793 | 765,116 |
The Hershey Co. | 24,211 | 3,328,044 |
Security | Number of Shares | Value ($) |
The JM Smucker Co. | 34,808 | 3,905,458 |
Tyson Foods, Inc., Class A | 31,739 | 1,816,423 |
26,119,687 | ||
Health Care Equipment & Services 6.1% | ||
Abbott Laboratories | 21,997 | 2,312,105 |
Anthem, Inc. | 8,924 | 2,434,467 |
Cardinal Health, Inc. | 90,406 | 4,139,691 |
CONMED Corp. | 13,794 | 1,075,518 |
Danaher Corp. | 7,400 | 1,698,596 |
DENTSPLY SIRONA, Inc. | 30,592 | 1,443,637 |
Hill-Rom Holdings, Inc. | 59,533 | 5,421,670 |
Hologic, Inc. * | 29,456 | 2,027,162 |
McKesson Corp. | 10,515 | 1,550,857 |
Medtronic plc | 84,435 | 8,491,628 |
STERIS plc | 11,453 | 2,029,357 |
UnitedHealth Group, Inc. | 8,117 | 2,476,821 |
Zimmer Biomet Holdings, Inc. | 419 | 55,350 |
35,156,859 | ||
Household & Personal Products 2.8% | ||
Kimberly-Clark Corp. | 37,641 | 4,990,820 |
The Procter & Gamble Co. | 81,771 | 11,210,804 |
16,201,624 | ||
Insurance 4.3% | ||
American Financial Group, Inc. | 20,000 | 1,498,800 |
Fidelity National Financial, Inc. | 61,095 | 1,911,663 |
First American Financial Corp. | 42,059 | 1,875,411 |
MetLife, Inc. | 186,384 | 7,054,634 |
The Allstate Corp. | 125,391 | 11,128,451 |
The Hartford Financial Services Group, Inc. | 29,565 | 1,138,844 |
24,607,803 | ||
Materials 7.2% | ||
Axalta Coating Systems Ltd. * | 107,444 | 2,697,919 |
Berry Global Group, Inc. * | 51,549 | 2,403,730 |
BHP Group plc | 112,063 | 2,170,923 |
Boise Cascade Co. | 28,900 | 1,109,182 |
CF Industries Holdings, Inc. | 57,275 | 1,581,363 |
China Resources Cement Holdings Ltd. | 848,000 | 1,110,396 |
Commercial Metals Co. | 39,330 | 812,164 |
Fortescue Metals Group Ltd. | 151,690 | 1,855,698 |
Minerals Technologies, Inc. | 87,817 | 4,802,712 |
PPG Industries, Inc. | 35,418 | 4,594,423 |
Reliance Steel & Aluminum Co. | 49,126 | 5,354,243 |
RPM International, Inc. | 22,025 | 1,864,857 |
Sensient Technologies Corp. | 35,798 | 2,342,263 |
The Sherwin-Williams Co. | 12,536 | 8,624,517 |
41,324,390 | ||
Media & Entertainment 3.3% | ||
Activision Blizzard, Inc. | 34,150 | 2,586,180 |
Alphabet, Inc., Class A * | 1,212 | 1,958,725 |
Altice USA, Inc., Class A * | 70,600 | 1,902,670 |
Comcast Corp., Class A | 181,362 | 7,660,731 |
Electronic Arts, Inc. * | 15,356 | 1,840,110 |
Nintendo Co., Ltd. | 5,200 | 2,811,581 |
Take-Two Interactive Software, Inc. * | 1,607 | 248,956 |
19,008,953 | ||
Security | Number of Shares | Value ($) |
Pharmaceuticals, Biotechnology & Life Sciences 7.7% | ||
Alexion Pharmaceuticals, Inc. * | 3,070 | 353,480 |
Amgen, Inc. | 1,862 | 403,942 |
Biogen, Inc. * | 5,106 | 1,287,069 |
Bristol-Myers Squibb Co. | 60 | 3,507 |
Gilead Sciences, Inc. | 76,028 | 4,421,028 |
Johnson & Johnson | 99,080 | 13,584,859 |
Medpace Holdings, Inc. * | 14,666 | 1,627,046 |
Merck & Co., Inc. | 6,855 | 515,565 |
Novartis AG | 11,522 | 897,824 |
Novo Nordisk A/S, Class B | 14,681 | 936,143 |
Pfizer, Inc. | 255,316 | 9,058,612 |
Regeneron Pharmaceuticals, Inc. * | 4,056 | 2,204,679 |
Roche Holding AG | 27,865 | 8,953,898 |
44,247,652 | ||
Real Estate 4.7% | ||
American Tower Corp. | 7,484 | 1,718,701 |
Corporate Office Properties Trust | 126,966 | 2,847,847 |
Cousins Properties, Inc. | 114,580 | 2,919,499 |
CyrusOne, Inc. | 15,800 | 1,122,590 |
Gaming & Leisure Properties, Inc. | 25,397 | 923,181 |
Global Net Lease, Inc. | 111,700 | 1,589,491 |
Longfor Group Holdings Ltd. | 78,500 | 430,110 |
Mid-America Apartment Communities, Inc. | 26,864 | 3,133,148 |
National Storage Affiliates Trust | 26,997 | 914,928 |
Omega Healthcare Investors, Inc. | 77,179 | 2,223,527 |
Prologis, Inc. | 83,050 | 8,238,560 |
Sabra Health Care REIT, Inc. | 65,033 | 855,834 |
26,917,416 | ||
Retailing 2.7% | ||
AutoNation, Inc. * | 20,100 | 1,140,273 |
Best Buy Co., Inc. | 45,740 | 5,102,297 |
Lowe's Cos., Inc. | 15,591 | 2,464,937 |
Target Corp. | 11,263 | 1,714,454 |
The Home Depot, Inc. | 20,351 | 5,427,815 |
15,849,776 | ||
Semiconductors & Semiconductor Equipment 3.8% | ||
Broadcom, Inc. | 6,860 | 2,398,462 |
Intel Corp. | 262,105 | 11,606,009 |
KLA Corp. | 9,315 | 1,836,732 |
QUALCOMM, Inc. | 33,522 | 4,135,274 |
Texas Instruments, Inc. | 13,032 | 1,884,297 |
21,860,774 | ||
Software & Services 2.7% | ||
Accenture plc, Class A | 15,494 | 3,360,804 |
Citrix Systems, Inc. | 12,778 | 1,447,364 |
Cognizant Technology Solutions Corp., Class A | 23,111 | 1,650,588 |
Fortinet, Inc. * | 10,289 | 1,135,597 |
International Business Machines Corp. | 27,300 | 3,048,318 |
Microsoft Corp. | 20,243 | 4,098,600 |
Oracle Corp. | 16,794 | 942,311 |
15,683,582 | ||
Technology Hardware & Equipment 3.1% | ||
Apple Inc. | 66,272 | 7,214,370 |
HP, Inc. | 21,856 | 392,534 |
Security | Number of Shares | Value ($) |
Jabil, Inc. | 179,696 | 5,955,125 |
Samsung Electronics Co., Ltd. | 88,564 | 4,451,723 |
18,013,752 | ||
Telecommunication Services 4.7% | ||
AT&T, Inc. | 350,657 | 9,474,752 |
Verizon Communications, Inc. | 308,741 | 17,595,150 |
27,069,902 | ||
Transportation 1.9% | ||
Ryder System, Inc. | 79,903 | 3,936,022 |
Schneider National, Inc., Class B | 157,872 | 3,482,656 |
Southwest Airlines Co. | 24,764 | 978,921 |
Union Pacific Corp. | 10,400 | 1,842,776 |
Werner Enterprises, Inc. | 13,566 | 515,779 |
10,756,154 | ||
Utilities 6.5% | ||
American Water Works Co., Inc. | 9,470 | 1,425,330 |
Exelon Corp. | 260,358 | 10,385,681 |
IDACORP, Inc. | 30,380 | 2,665,237 |
NextEra Energy, Inc. | 43,300 | 3,169,993 |
NRG Energy, Inc. | 135,878 | 4,296,462 |
Security | Number of Shares | Value ($) |
OGE Energy Corp. | 202,852 | 6,241,756 |
Portland General Electric Co. | 96,059 | 3,775,119 |
UGI Corp. | 115,893 | 3,747,980 |
Vistra Corp. | 96,230 | 1,671,515 |
37,379,073 | ||
Total Common Stock | ||
(Cost $542,408,082) | 574,114,939 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investment 0.4% of net assets | ||
Time Deposit 0.4% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (a) | 2,049,286 | 2,049,286 |
Total Short-Term Investment | ||
(Cost $2,049,286) | 2,049,286 |
* | Non-income producing security. |
(a) | The rate shown is the current daily overnight rate. |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $283,934,834 | $— | $— | $283,934,834 | |
Banks | 37,136,122 | 3,411,388 | — | 40,547,510 | |
Capital Goods | 48,476,867 | 1,093,433 | — | 49,570,300 | |
Diversified Financials | 40,758,817 | 1,020,994 | — | 41,779,811 | |
Food & Staples Retailing | 6,731,739 | 2,038,582 | — | 8,770,321 | |
Materials | 36,187,373 | 5,137,017 | — | 41,324,390 | |
Media & Entertainment | 16,197,372 | 2,811,581 | — | 19,008,953 | |
Pharmaceuticals, Biotechnology & Life Sciences | 33,459,787 | 10,787,865 | — | 44,247,652 | |
Real Estate | 26,487,306 | 430,110 | — | 26,917,416 | |
Technology Hardware & Equipment | 13,562,029 | 4,451,723 | — | 18,013,752 | |
Short-Term Investment1 | — | 2,049,286 | — | 2,049,286 | |
Total | $542,932,246 | $33,231,979 | $— | $576,164,225 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $544,457,368) | $576,164,225 | |
Receivables: | ||
Dividends | 1,149,503 | |
Foreign tax reclaims | 137,095 | |
Fund shares sold | 90,749 | |
Prepaid expenses | + | 16,330 |
Total assets | 577,557,902 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 309,324 | |
Shareholder service fees | 126,686 | |
Fund shares redeemed | 300,919 | |
Accrued expenses | + | 119,585 |
Total liabilities | 856,514 | |
Net Assets | ||
Total assets | 577,557,902 | |
Total liabilities | – | 856,514 |
Net assets | $576,701,388 | |
Net Assets by Source | ||
Capital received from investors | 572,705,412 | |
Total distributable earnings | 3,995,976 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$576,701,388 | 47,518,830 | $12.14 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $123,534) | $21,051,847 | |
Interest | 10,512 | |
Securities on loan, net | + | 26,772 |
Total investment income | 21,089,131 | |
Expenses | ||
Investment adviser and administrator fees | 4,297,978 | |
Shareholder service fees | 1,658,499 | |
Portfolio accounting fees | 87,228 | |
Shareholder reports | 37,827 | |
Professional fees | 37,108 | |
Registration fees | 28,948 | |
Custodian fees | 26,186 | |
Transfer agent fees | 16,855 | |
Independent trustees’ fees | 10,951 | |
Other expenses | + | 13,359 |
Total expenses | 6,214,939 | |
Expense reduction by CSIM and its affiliates | – | 44,623 |
Net expenses | – | 6,170,316 |
Net investment income | 14,918,815 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (28,811,207) | |
Net realized gains on futures contracts | 103,224 | |
Net realized losses on foreign currency transactions | + | (37,666) |
Net realized losses | (28,745,649) | |
Net change in unrealized appreciation (depreciation) on investments | (91,572,168) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 8,729 |
Net change in unrealized appreciation (depreciation) | + | (91,563,439) |
Net realized and unrealized losses | (120,309,088) | |
Decrease in net assets resulting from operations | ($105,390,273) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $14,918,815 | $14,944,406 | ||
Net realized gains (losses) | (28,745,649) | 43,656,520 | ||
Net change in unrealized appreciation (depreciation) | + | (91,563,439) | 7,941,778 | |
Increase (decrease) in net assets from operations | (105,390,273) | 66,542,704 | ||
Distributions to Shareholders | ||||
Total distributions | ($57,745,153) | ($116,674,245) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 3,025,001 | $39,046,505 | 4,035,151 | $55,294,907 | ||||
Shares reinvested | 3,317,070 | 46,974,063 | 5,687,633 | 76,661,106 | ||||
Shares redeemed | + | (15,016,968) | (193,138,459) | (34,473,540) | (483,993,577) | |||
Net transactions in fund shares | (8,674,897) | ($107,117,891) | (24,750,756) | ($352,037,564) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 56,193,727 | $846,954,705 | 80,944,483 | $1,249,123,810 | ||||
Total decrease | + | (8,674,897) | (270,253,317) | (24,750,756) | (402,169,105) | |||
End of period | 47,518,830 | $576,701,388 | 56,193,727 | $846,954,705 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $18.07 | $18.04 | $18.65 | $15.20 | $17.68 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.00 2 | 0.06 | 0.06 | 0.08 | 0.20 | |
Net realized and unrealized gains (losses) | 3.76 | 1.79 | 0.75 | 4.04 | (0.12) | |
Total from investment operations | 3.76 | 1.85 | 0.81 | 4.12 | 0.08 | |
Less distributions: | ||||||
Distributions from net investment income | (0.03) | (0.07) | (0.07) | (0.17) | (0.20) | |
Distributions from net realized gains | (0.95) | (1.75) | (1.35) | (0.50) | (2.36) | |
Total distributions | (0.98) | (1.82) | (1.42) | (0.67) | (2.56) | |
Net asset value at end of period | $20.85 | $18.07 | $18.04 | $18.65 | $15.20 | |
Total return | 21.60% | 12.18% | 4.46% | 28.10% | 0.54% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.99% | 0.99% | 0.99% | 0.99% | 1.00% 3 | |
Gross operating expenses | 1.02% | 1.03% | 1.02% | 1.04% | 1.04% | |
Net investment income (loss) | 0.01% | 0.34% | 0.30% | 0.48% | 1.32% | |
Portfolio turnover rate | 65% | 67% | 88% | 81% | 84% | |
Net assets, end of period (x 1,000,000) | $210 | $181 | $243 | $257 | $219 | |
Security | Number of Shares | Value ($) |
Common Stock 99.0% of net assets | ||
Automobiles & Components 1.1% | ||
Tesla, Inc. * | 6,070 | 2,355,403 |
Capital Goods 2.5% | ||
Illinois Tool Works, Inc. | 6,634 | 1,299,468 |
Lockheed Martin Corp. | 5,033 | 1,762,204 |
Masco Corp. | 27,534 | 1,475,823 |
Rexnord Corp. | 21,703 | 696,232 |
5,233,727 | ||
Commercial & Professional Services 1.0% | ||
Cintas Corp. | 2,808 | 883,256 |
CoreLogic, Inc. | 15,404 | 1,185,030 |
2,068,286 | ||
Consumer Durables & Apparel 2.7% | ||
Lennar Corp., Class A | 5,558 | 390,338 |
NIKE, Inc., Class B | 11,126 | 1,336,010 |
PulteGroup, Inc. | 44,796 | 1,825,885 |
Sony Corp. ADR | 14,759 | 1,234,738 |
YETI Holdings, Inc. * | 17,382 | 860,062 |
5,647,033 | ||
Consumer Services 1.2% | ||
Domino's Pizza, Inc. | 3,231 | 1,222,352 |
Hilton Worldwide Holdings, Inc. | 5,334 | 468,378 |
Papa John's International, Inc. | 11,621 | 890,169 |
2,580,899 | ||
Diversified Financials 1.6% | ||
MSCI, Inc. | 4,615 | 1,614,512 |
S&P Global, Inc. | 2,791 | 900,739 |
T. Rowe Price Group, Inc. | 6,573 | 832,536 |
3,347,787 | ||
Food & Staples Retailing 0.8% | ||
The Kroger Co. | 19,722 | 635,246 |
Walmart, Inc. | 7,871 | 1,092,101 |
1,727,347 | ||
Food, Beverage & Tobacco 2.7% | ||
Flowers Foods, Inc. | 41,556 | 979,890 |
General Mills, Inc. | 16,595 | 981,096 |
Monster Beverage Corp. * | 21,442 | 1,641,814 |
Nestle S.A. ADR | 5,748 | 645,328 |
PepsiCo, Inc. | 11,061 | 1,474,321 |
5,722,449 | ||
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 5.6% | ||
Abbott Laboratories | 2,974 | 312,597 |
Cardinal Health, Inc. | 15,275 | 699,442 |
Hologic, Inc. * | 27,176 | 1,870,252 |
IDEXX Laboratories, Inc. * | 3,674 | 1,560,789 |
McKesson Corp. | 5,533 | 816,062 |
ResMed, Inc. | 6,270 | 1,203,464 |
UnitedHealth Group, Inc. | 9,246 | 2,821,325 |
Veeva Systems, Inc., Class A * | 3,695 | 997,835 |
West Pharmaceutical Services, Inc. | 5,002 | 1,360,894 |
11,642,660 | ||
Household & Personal Products 0.2% | ||
Kimberly-Clark Corp. | 2,926 | 387,958 |
Materials 1.2% | ||
Berry Global Group, Inc. * | 8,725 | 406,847 |
RPM International, Inc. | 2,576 | 218,110 |
The Sherwin-Williams Co. | 2,787 | 1,917,400 |
2,542,357 | ||
Media & Entertainment 12.9% | ||
Activision Blizzard, Inc. | 6,390 | 483,915 |
Alphabet, Inc., Class A * | 6,012 | 9,716,053 |
Altice USA, Inc., Class A * | 23,756 | 640,224 |
Charter Communications, Inc., Class A * | 2,290 | 1,382,748 |
Electronic Arts, Inc. * | 2,127 | 254,879 |
Facebook, Inc., Class A * | 34,476 | 9,070,980 |
Netflix, Inc. * | 3,915 | 1,862,522 |
Nintendo Co., Ltd. ADR | 22,779 | 1,542,822 |
Take-Two Interactive Software, Inc. * | 4,309 | 667,550 |
Tencent Holdings Ltd. ADR | 17,936 | 1,369,234 |
26,990,927 | ||
Pharmaceuticals, Biotechnology & Life Sciences 7.1% | ||
Alexion Pharmaceuticals, Inc. * | 6,291 | 724,346 |
Amgen, Inc. | 5,988 | 1,299,037 |
Avantor, Inc. * | 46,783 | 1,088,640 |
Charles River Laboratories International, Inc. * | 5,534 | 1,260,092 |
Emergent BioSolutions, Inc. * | 6,650 | 598,300 |
Horizon Therapeutics plc * | 7,540 | 564,972 |
Jazz Pharmaceuticals plc * | 3,627 | 522,651 |
Johnson & Johnson | 2,957 | 405,434 |
Medpace Holdings, Inc. * | 12,801 | 1,420,143 |
Novartis AG ADR | 6,134 | 478,943 |
Novo Nordisk A/S ADR | 19,292 | 1,232,566 |
Regeneron Pharmaceuticals, Inc. * | 1,809 | 983,300 |
Roche Holding AG ADR | 53,720 | 2,148,263 |
Vertex Pharmaceuticals, Inc. * | 9,890 | 2,060,680 |
14,787,367 | ||
Real Estate 1.5% | ||
American Tower Corp. | 7,178 | 1,648,428 |
CyrusOne, Inc. | 7,369 | 523,567 |
Security | Number of Shares | Value ($) |
Prologis, Inc. | 3,444 | 341,645 |
SBA Communications Corp. | 2,199 | 638,524 |
3,152,164 | ||
Retailing 12.1% | ||
Amazon.com, Inc. * | 6,071 | 18,432,467 |
Best Buy Co., Inc. | 11,741 | 1,309,709 |
eBay, Inc. | 18,204 | 867,056 |
Lowe's Cos., Inc. | 13,279 | 2,099,410 |
The Home Depot, Inc. | 10,179 | 2,714,841 |
25,423,483 | ||
Semiconductors & Semiconductor Equipment 5.9% | ||
Advanced Micro Devices, Inc. * | 25,716 | 1,936,158 |
Broadcom, Inc. | 3,554 | 1,242,585 |
KLA Corp. | 6,411 | 1,264,121 |
Monolithic Power Systems, Inc. | 3,607 | 1,152,797 |
NVIDIA Corp. | 9,468 | 4,746,876 |
QUALCOMM, Inc. | 13,424 | 1,655,985 |
Teradyne, Inc. | 5,002 | 439,426 |
12,437,948 | ||
Software & Services 25.8% | ||
Accenture plc, Class A | 9,250 | 2,006,417 |
Adobe, Inc. * | 10,418 | 4,657,888 |
Autodesk, Inc. * | 3,923 | 924,023 |
Booz Allen Hamilton Holding Corp. | 16,171 | 1,269,424 |
Cadence Design Systems, Inc. * | 26,687 | 2,918,757 |
Citrix Systems, Inc. | 8,493 | 962,002 |
DocuSign, Inc. * | 5,576 | 1,127,746 |
Fair Isaac Corp. * | 1,014 | 396,930 |
Fortinet, Inc. * | 15,443 | 1,704,444 |
GoDaddy, Inc., Class A * | 19,381 | 1,371,012 |
Intuit, Inc. | 4,891 | 1,539,100 |
Manhattan Associates, Inc. * | 6,539 | 559,085 |
Mastercard, Inc., Class A | 15,634 | 4,512,598 |
Microsoft Corp. | 99,364 | 20,118,229 |
Oracle Corp. | 5,733 | 321,679 |
PayPal Holdings, Inc. * | 9,350 | 1,740,315 |
Science Applications International Corp. | 3,523 | 269,052 |
ServiceNow, Inc. * | 3,337 | 1,660,391 |
SS&C Technologies Holdings, Inc. | 2,804 | 166,053 |
SVMK, Inc. * | 28,496 | 596,421 |
Synopsys, Inc. * | 8,525 | 1,823,156 |
VeriSign, Inc. * | 1,921 | 366,335 |
Visa, Inc., Class A | 17,850 | 3,243,523 |
54,254,580 | ||
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 11.5% | ||
Apple Inc. | 221,828 | 24,148,196 |
Telecommunication Services 0.3% | ||
Verizon Communications, Inc. | 10,954 | 624,268 |
Transportation 1.3% | ||
JB Hunt Transport Services, Inc. | 3,177 | 386,768 |
Knight-Swift Transportation Holdings, Inc. | 11,187 | 424,994 |
Union Pacific Corp. | 6,038 | 1,069,873 |
Werner Enterprises, Inc. | 23,738 | 902,519 |
2,784,154 | ||
Total Common Stock | ||
(Cost $116,887,594) | 207,858,993 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.9% of net assets | ||
Time Deposit 0.9% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.01%, 11/02/20 (a) | 1,958,394 | 1,958,394 |
Total Short-Term Investment | ||
(Cost $1,958,394) | 1,958,394 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
S&P 500 Index, e-mini, expires 12/18/20 | 12 | 1,958,820 | (75,079) |
* | Non-income producing security. |
(a) | The rate shown is the current daily overnight rate. |
ADR — | American Depositary Receipt |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $207,858,993 | $— | $— | $207,858,993 | |
Short-Term Investment1 | — | 1,958,394 | — | 1,958,394 | |
Liabilities | |||||
Futures Contracts2 | (75,079) | — | — | (75,079) | |
Total | $207,783,914 | $1,958,394 | $— | $209,742,308 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $118,845,988) | $209,817,387 | |
Deposit with broker for futures contracts | 216,000 | |
Receivables: | ||
Fund shares sold | 274,422 | |
Dividends | 40,945 | |
Foreign tax reclaims | 4,379 | |
Prepaid expenses | + | 16,779 |
Total assets | 210,369,912 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 138,329 | |
Shareholder service fees | 45,241 | |
Fund shares redeemed | 74,964 | |
Variation margin on futures contracts | 22,560 | |
Accrued expenses | + | 55,806 |
Total liabilities | 336,900 | |
Net Assets | ||
Total assets | 210,369,912 | |
Total liabilities | – | 336,900 |
Net assets | $210,033,012 | |
Net Assets by Source | ||
Capital received from investors | 116,703,274 | |
Total distributable earnings | 93,329,738 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$210,033,012 | 10,071,245 | $20.85 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $26,198) | $1,914,036 | |
Interest | 1,419 | |
Securities on loan, net | + | 6,093 |
Total investment income | 1,921,548 | |
Expenses | ||
Investment adviser and administrator fees | 1,390,170 | |
Shareholder service fees | 456,926 | |
Professional fees | 33,642 | |
Registration fees | 24,674 | |
Portfolio accounting fees | 24,181 | |
Independent trustees’ fees | 8,610 | |
Shareholder reports | 7,392 | |
Custodian fees | 7,064 | |
Transfer agent fees | 6,708 | |
Other expenses | + | 5,180 |
Total expenses | 1,964,547 | |
Expense reduction by CSIM and its affiliates | – | 52,937 |
Net expenses | – | 1,911,610 |
Net investment income | 9,938 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 2,261,164 | |
Net realized gains on futures contracts | + | 397,107 |
Net realized gains | 2,658,271 | |
Net change in unrealized appreciation (depreciation) on investments | 34,128,924 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (75,079) |
Net change in unrealized appreciation (depreciation) | + | 34,053,845 |
Net realized and unrealized gains | 36,712,116 | |
Increase in net assets resulting from operations | $36,722,054 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $9,938 | $658,429 | ||
Net realized gains | 2,658,271 | 9,266,572 | ||
Net change in unrealized appreciation (depreciation) | + | 34,053,845 | 8,686,239 | |
Increase in net assets from operations | 36,722,054 | 18,611,240 | ||
Distributions to Shareholders | ||||
Total distributions | ($9,705,767) | ($24,256,179) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 2,205,536 | $41,760,250 | 1,083,640 | $17,768,963 | ||||
Shares reinvested | 459,787 | 8,322,151 | 1,033,263 | 15,729,023 | ||||
Shares redeemed | + | (2,598,754) | (47,874,418) | (5,570,871) | (89,814,641) | |||
Net transactions in fund shares | 66,569 | $2,207,983 | (3,453,968) | ($56,316,655) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 10,004,676 | $180,808,742 | 13,458,644 | $242,770,336 | ||||
Total increase or decrease | + | 66,569 | 29,224,270 | (3,453,968) | (61,961,594) | |||
End of period | 10,071,245 | $210,033,012 | 10,004,676 | $180,808,742 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $16.68 | $20.87 | $23.58 | $18.81 | $21.19 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.03 | 0.02 | 0.01 | (0.00) 2 | 0.07 | |
Net realized and unrealized gains (losses) | (1.67) | (0.35) 3 | 0.32 | 4.86 | 0.12 | |
Total from investment operations | (1.64) | (0.33) | 0.33 | 4.86 | 0.19 | |
Less distributions: | ||||||
Distributions from net investment income | (0.02) | (0.01) | — | (0.09) | (0.04) | |
Distributions from net realized gains | — | (3.85) | (3.04) | — | (2.53) | |
Total distributions | (0.02) | (3.86) | (3.04) | (0.09) | (2.57) | |
Net asset value at end of period | $15.02 | $16.68 | $20.87 | $23.58 | $18.81 | |
Total return | (9.86%) | 0.08% | 1.37% | 25.87% | 1.47% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.09% | 1.09% | 1.09% | 1.10% | 1.09% | |
Gross operating expenses | 1.10% | 1.09% | 1.09% | 1.10% | 1.10% | |
Net investment income (loss) | 0.17% | 0.09% | 0.06% | (0.01%) | 0.37% | |
Portfolio turnover rate | 113% | 117% | 111% | 99% | 85% | |
Net assets, end of period (x 1,000,000) | $491 | $579 | $573 | $645 | $571 | |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Automobiles & Components 0.6% | ||
American Axle & Manufacturing Holdings, Inc. * | 119,894 | 805,688 |
The Goodyear Tire & Rubber Co. | 104,187 | 862,668 |
Winnebago Industries, Inc. | 26,358 | 1,237,508 |
2,905,864 | ||
Banks 9.0% | ||
Amalgamated Bank, Class A | 82,279 | 913,297 |
Associated Banc-Corp. | 56,786 | 777,400 |
BancorpSouth Bank | 47,996 | 1,123,586 |
Bank of Marin Bancorp | 21,165 | 637,913 |
Customers Bancorp, Inc. * | 88,260 | 1,219,753 |
CVB Financial Corp. | 54,742 | 957,985 |
Financial Institutions, Inc. | 96,231 | 1,706,176 |
First BanCorp | 651,053 | 4,225,334 |
Flagstar Bancorp, Inc. | 175,844 | 5,161,021 |
Glacier Bancorp, Inc. | 67,517 | 2,417,109 |
Hilltop Holdings, Inc. | 146,567 | 3,343,193 |
Howard Bancorp, Inc. * | 15,154 | 153,510 |
Independent Bank Corp., Michigan | 112,505 | 1,684,200 |
International Bancshares Corp. | 115,312 | 3,191,836 |
Metropolitan Bank Holding Corp. * | 7,301 | 218,665 |
MGIC Investment Corp. | 180,800 | 1,818,848 |
NMI Holdings, Inc., Class A * | 49,161 | 1,056,470 |
Premier Financial Corp. | 43,502 | 782,601 |
QCR Holdings, Inc. | 8,420 | 261,273 |
Radian Group, Inc. | 185,840 | 3,335,828 |
Republic Bancorp, Inc., Class A | 40,737 | 1,357,764 |
ServisFirst Bancshares, Inc. | 12,069 | 445,346 |
UMB Financial Corp. | 50,687 | 3,085,318 |
Westamerica Bancorp | 51,318 | 2,687,524 |
WSFS Financial Corp. | 48,426 | 1,534,620 |
44,096,570 | ||
Capital Goods 10.0% | ||
Atkore International Group, Inc. * | 95,466 | 1,975,192 |
Barnes Group, Inc. | 18,438 | 676,675 |
Builders FirstSource, Inc. * | 35,011 | 1,060,833 |
Comfort Systems USA, Inc. | 51,351 | 2,351,876 |
Cornerstone Building Brands, Inc. * | 123,305 | 945,749 |
Ducommun, Inc. * | 79,976 | 2,631,210 |
EMCOR Group, Inc. | 45,807 | 3,123,579 |
Evoqua Water Technologies Corp. * | 122,787 | 2,815,506 |
Federal Signal Corp. | 99,618 | 2,857,044 |
Foundation Building Materials, Inc. * | 38,521 | 560,866 |
Generac Holdings, Inc. * | 10,367 | 2,178,625 |
Gibraltar Industries, Inc. * | 12,058 | 692,732 |
GMS, Inc. * | 55,914 | 1,263,656 |
H&E Equipment Services, Inc. | 15,759 | 331,569 |
IES Holdings, Inc. * | 24,201 | 772,496 |
Masonite International Corp. * | 20,942 | 1,842,896 |
MasTec, Inc. * | 5,627 | 279,324 |
Moog, Inc., Class A | 44,033 | 2,747,219 |
Mueller Industries, Inc. | 165,088 | 4,775,996 |
Security | Number of Shares | Value ($) |
MYR Group, Inc. * | 39,106 | 1,671,782 |
Northwest Pipe Co. * | 25,371 | 679,943 |
Parsons Corp. * | 21,231 | 669,201 |
Quanex Building Products Corp. | 23,029 | 419,128 |
Rexnord Corp. | 117,868 | 3,781,205 |
SiteOne Landscape Supply, Inc. * | 8,363 | 999,295 |
SPX Corp. * | 99,303 | 4,209,454 |
UFP Industries, Inc. | 31,192 | 1,556,793 |
Vectrus, Inc. * | 27,765 | 1,097,273 |
48,967,117 | ||
Commercial & Professional Services 3.2% | ||
ASGN, Inc. * | 32,677 | 2,178,902 |
Huron Consulting Group, Inc. * | 34,688 | 1,313,288 |
Interface, Inc. | 73,672 | 451,609 |
Kforce, Inc. | 17,087 | 592,919 |
Mastech Digital, Inc. * | 34,892 | 547,107 |
Matthews International Corp., Class A | 73,055 | 1,594,791 |
McGrath RentCorp | 85,117 | 4,858,478 |
TriNet Group, Inc. * | 57,583 | 3,968,620 |
15,505,714 | ||
Consumer Durables & Apparel 5.4% | ||
Crocs, Inc. * | 38,603 | 2,020,095 |
Deckers Outdoor Corp. * | 14,479 | 3,668,544 |
Hamilton Beach Brands Holding Co., Class A | 53,151 | 1,171,980 |
Helen of Troy Ltd. * | 25,365 | 4,809,204 |
Installed Building Products, Inc. * | 30,062 | 2,721,814 |
Lakeland Industries, Inc. *(a) | 85,879 | 1,852,410 |
Meritage Homes Corp. * | 9,642 | 839,722 |
Nautilus, Inc. * | 29,872 | 647,924 |
Rocky Brands, Inc. | 20,166 | 542,465 |
Tempur Sealy International, Inc. * | 29,362 | 2,613,218 |
TopBuild Corp. * | 10,810 | 1,656,200 |
Universal Electronics, Inc. * | 23,425 | 868,131 |
Vista Outdoor, Inc. * | 64,403 | 1,273,247 |
YETI Holdings, Inc. * | 35,128 | 1,738,133 |
26,423,087 | ||
Consumer Services 3.2% | ||
Bloomin' Brands, Inc. | 22,154 | 309,713 |
Brinker International, Inc. | 35,544 | 1,547,586 |
Carrols Restaurant Group, Inc. * | 26,806 | 156,815 |
Del Taco Restaurants, Inc. * | 280,877 | 2,082,703 |
Extended Stay America, Inc. | 51,796 | 587,885 |
International Game Technology plc | 139,652 | 1,146,543 |
Marriott Vacations Worldwide Corp. | 16,479 | 1,591,871 |
Papa John's International, Inc. | 42,030 | 3,219,498 |
Perdoceo Education Corp. * | 109,232 | 1,233,229 |
PlayAGS, Inc. * | 174,338 | 470,713 |
Red Rock Resorts, Inc., Class A | 17,535 | 335,269 |
Scientific Games Corp., Class A * | 68,217 | 2,174,758 |
Wyndham Destinations, Inc. | 31,687 | 1,033,947 |
15,890,530 | ||
Security | Number of Shares | Value ($) |
Diversified Financials 4.7% | ||
Artisan Partners Asset Management, Inc., Class A | 28,249 | 1,131,655 |
BGC Partners, Inc., Class A | 85,711 | 252,847 |
Cohen & Steers, Inc. | 13,539 | 762,381 |
Enova International, Inc. * | 143,291 | 2,199,517 |
Federated Hermes, Inc. | 71,247 | 1,702,803 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 65,657 | 2,747,745 |
Navient Corp. | 84,510 | 676,925 |
OneMain Holdings, Inc. | 83,524 | 2,914,152 |
Oppenheimer Holdings, Inc., Class A | 115,675 | 2,898,816 |
PRA Group, Inc. * | 15,344 | 523,691 |
Regional Management Corp. * | 37,864 | 769,397 |
Stifel Financial Corp. | 86,668 | 5,066,611 |
Virtus Investment Partners, Inc. | 8,263 | 1,318,362 |
22,964,902 | ||
Energy 2.2% | ||
Ardmore Shipping Corp. | 131,482 | 368,150 |
Aspen Aerogels, Inc. * | 22,931 | 259,120 |
Cimarex Energy Co. | 137,177 | 3,480,181 |
DHT Holdings, Inc. | 402,196 | 1,934,563 |
Dorian LPG Ltd. * | 116,127 | 952,241 |
Renewable Energy Group, Inc. * | 41,228 | 2,325,259 |
Teekay Corp. *(a) | 207,460 | 365,130 |
Teekay Tankers Ltd., Class A * | 32,810 | 309,398 |
World Fuel Services Corp. | 41,042 | 863,934 |
10,857,976 | ||
Food & Staples Retailing 0.8% | ||
BJ's Wholesale Club Holdings, Inc. * | 15,125 | 579,136 |
SpartanNash, Co. | 18,223 | 335,485 |
Sprouts Farmers Market, Inc. * | 150,471 | 2,866,473 |
United Natural Foods, Inc. * | 18,173 | 264,781 |
4,045,875 | ||
Food, Beverage & Tobacco 1.7% | ||
B&G Foods, Inc. (a) | 19,217 | 510,404 |
Coca-Cola Consolidated, Inc. | 14,701 | 3,365,794 |
Darling Ingredients, Inc. * | 38,271 | 1,645,653 |
National Beverage Corp. * | 20,386 | 1,596,020 |
Seneca Foods Corp., Class A * | 8,855 | 326,307 |
Vector Group Ltd. | 77,055 | 708,135 |
8,152,313 | ||
Health Care Equipment & Services 5.6% | ||
Accuray, Inc. * | 74,543 | 216,920 |
CONMED Corp. | 36,210 | 2,823,294 |
Electromed, Inc. * | 77,737 | 645,994 |
GenMark Diagnostics, Inc. * | 109,171 | 1,334,070 |
Globus Medical, Inc., Class A * | 20,518 | 1,069,398 |
Haemonetics Corp. * | 11,954 | 1,208,430 |
Inovalon Holdings, Inc., Class A * | 55,085 | 1,046,064 |
Integer Holdings Corp. * | 57,317 | 3,350,179 |
Meridian Bioscience, Inc. * | 91,496 | 1,569,156 |
Merit Medical Systems, Inc. * | 17,301 | 865,915 |
National Research Corp. | 4,804 | 248,847 |
Natus Medical, Inc. * | 75,251 | 1,370,321 |
Nevro Corp. * | 3,170 | 472,996 |
Novocure Ltd. * | 5,423 | 662,148 |
Owens & Minor, Inc. | 12,437 | 312,417 |
Quidel Corp. * | 13,355 | 3,583,013 |
Security | Number of Shares | Value ($) |
R1 RCM, Inc. * | 17,198 | 308,188 |
Repro-Med Systems, Inc. * | 76,876 | 424,355 |
Retractable Technologies, Inc. *(a) | 145,768 | 1,069,937 |
Tenet Healthcare Corp. * | 90,827 | 2,228,895 |
Tivity Health, Inc. * | 46,037 | 633,009 |
Utah Medical Products, Inc. | 7,950 | 659,850 |
Zynex, Inc. * | 115,444 | 1,478,838 |
27,582,234 | ||
Household & Personal Products 0.6% | ||
Central Garden & Pet Co. * | 18,707 | 728,825 |
Lifevantage Corp. * | 28,746 | 317,643 |
Medifast, Inc. | 8,526 | 1,197,818 |
USANA Health Sciences, Inc. * | 11,319 | 856,282 |
3,100,568 | ||
Insurance 1.3% | ||
American Equity Investment Life Holding Co. | 52,019 | 1,291,112 |
American National Group, Inc. | 18,297 | 1,258,834 |
Assured Guaranty Ltd. | 12,404 | 316,674 |
Employers Holdings, Inc. | 18,086 | 578,933 |
Global Indemnity Group LLC, Class A | 10,552 | 258,629 |
Investors Title Co. | 1,114 | 148,741 |
Mercury General Corp. | 30,798 | 1,253,787 |
National Western Life Group, Inc., Class A | 6,826 | 1,157,894 |
6,264,604 | ||
Materials 4.0% | ||
Boise Cascade Co. | 74,863 | 2,873,242 |
Clearwater Paper Corp. * | 57,642 | 2,141,400 |
Commercial Metals Co. | 50,455 | 1,041,896 |
Compass Minerals International, Inc. | 50,204 | 3,031,317 |
Hawkins, Inc. | 6,911 | 322,813 |
Hecla Mining Co. | 408,329 | 1,870,147 |
Koppers Holdings, Inc. * | 69,140 | 1,550,810 |
Louisiana-Pacific Corp. | 16,805 | 480,287 |
Minerals Technologies, Inc. | 20,230 | 1,106,379 |
Ryerson Holding Corp. * | 32,865 | 258,647 |
Tronox Holdings plc, Class A * | 534,653 | 5,223,560 |
19,900,498 | ||
Media & Entertainment 1.7% | ||
Cars.com, Inc. * | 100,508 | 742,754 |
Glu Mobile, Inc. * | 174,119 | 1,246,692 |
Gray Television, Inc. * | 67,515 | 856,090 |
Lions Gate Entertainment Corp., Class A * | 486,914 | 3,262,324 |
QuinStreet, Inc. * | 24,190 | 387,161 |
TrueCar, Inc. * | 27,505 | 119,922 |
World Wrestling Entertainment, Inc., Class A | 52,190 | 1,897,628 |
8,512,571 | ||
Pharmaceuticals, Biotechnology & Life Sciences 15.2% | ||
ACADIA Pharmaceuticals, Inc. * | 86,941 | 4,038,409 |
Acceleron Pharma, Inc. * | 7,587 | 793,448 |
Affimed N.V. * | 127,787 | 403,807 |
Agenus, Inc. * | 61,421 | 226,643 |
Amicus Therapeutics, Inc. * | 211,031 | 3,762,683 |
Anika Therapeutics, Inc. * | 20,406 | 665,644 |
Aquestive Therapeutics, Inc. *(a) | 129,345 | 626,030 |
Ardelyx, Inc. * | 59,788 | 305,517 |
Assembly Biosciences, Inc. * | 23,053 | 339,801 |
BioDelivery Sciences International, Inc. * | 470,773 | 1,487,643 |
CareDx, Inc. * | 49,355 | 2,420,863 |
Security | Number of Shares | Value ($) |
Catalyst Pharmaceuticals, Inc. * | 270,011 | 801,933 |
ChemoCentryx, Inc. * | 39,644 | 1,902,912 |
Coherus Biosciences, Inc. * | 99,326 | 1,655,764 |
Corcept Therapeutics, Inc. * | 86,337 | 1,448,735 |
Cymabay Therapeutics, Inc. * | 97,141 | 808,213 |
CytomX Therapeutics, Inc. * | 23,600 | 156,232 |
Dicerna Pharmaceuticals, Inc. * | 87,848 | 1,843,929 |
Emergent BioSolutions, Inc. * | 54,006 | 4,858,920 |
FibroGen, Inc. * | 56,447 | 2,166,436 |
Five Prime Therapeutics, Inc. * | 61,190 | 279,026 |
Halozyme Therapeutics, Inc. * | 91,005 | 2,548,140 |
Harpoon Therapeutics, Inc. * | 24,668 | 356,946 |
Horizon Therapeutics plc * | 26,224 | 1,964,964 |
Insmed, Inc. * | 63,238 | 2,083,060 |
Intercept Pharmaceuticals, Inc. * | 21,364 | 593,706 |
Ironwood Pharmaceuticals, Inc. * | 95,370 | 942,256 |
Jounce Therapeutics, Inc. * | 195,200 | 1,624,064 |
Karyopharm Therapeutics, Inc. * | 84,365 | 1,250,289 |
La Jolla Pharmaceutical Co. *(a) | 140,978 | 479,325 |
Ligand Pharmaceuticals, Inc. *(a) | 18,232 | 1,503,228 |
Luminex Corp. | 28,006 | 617,252 |
Medpace Holdings, Inc. * | 35,601 | 3,949,575 |
MEI Pharma, Inc. * | 515,846 | 1,341,200 |
Natera, Inc. * | 17,886 | 1,203,012 |
Novavax, Inc. * | 24,956 | 2,014,199 |
OPKO Health, Inc. * | 506,846 | 1,784,098 |
Pacira BioSciences, Inc. * | 54,814 | 2,866,772 |
Prestige Consumer Healthcare, Inc. * | 73,686 | 2,433,849 |
PTC Therapeutics, Inc. * | 13,221 | 690,004 |
Puma Biotechnology, Inc. * | 103,975 | 870,271 |
Radius Health, Inc. * | 141,958 | 1,903,657 |
Repligen Corp. * | 7,949 | 1,324,065 |
Retrophin, Inc. * | 207,613 | 4,202,087 |
Supernus Pharmaceuticals, Inc. * | 109,378 | 2,008,180 |
Syneos Health, Inc. * | 18,645 | 989,677 |
Veracyte, Inc. * | 18,259 | 632,857 |
Vericel Corp. * | 52,748 | 977,420 |
Xencor, Inc. * | 12,175 | 467,276 |
74,614,017 | ||
Real Estate 6.7% | ||
Apple Hospitality REIT, Inc. | 13,369 | 132,353 |
CareTrust REIT, Inc. | 68,632 | 1,173,607 |
Chatham Lodging Trust | 100,253 | 736,860 |
CorEnergy Infrastructure Trust, Inc. | 37,517 | 175,580 |
CorePoint Lodging, Inc. | 95,889 | 458,349 |
Corporate Office Properties Trust | 102,219 | 2,292,772 |
Easterly Government Properties, Inc. | 49,191 | 1,028,092 |
EastGroup Properties, Inc. | 42,405 | 5,643,257 |
eXp World Holdings, Inc. * | 44,389 | 1,881,650 |
First Industrial Realty Trust, Inc. | 36,260 | 1,443,511 |
Getty Realty Corp. | 17,350 | 455,958 |
Gladstone Land Corp. | 23,119 | 320,660 |
Global Medical REIT, Inc. | 168,231 | 2,091,111 |
Industrial Logistics Properties Trust | 45,268 | 868,240 |
National Storage Affiliates Trust | 49,176 | 1,666,575 |
New Senior Investment Group, Inc. | 130,511 | 510,298 |
Office Properties Income Trust | 154,023 | 2,835,563 |
Paramount Group, Inc. | 52,351 | 302,589 |
Piedmont Office Realty Trust, Inc., Class A | 135,622 | 1,548,803 |
PotlatchDeltic Corp. | 31,624 | 1,313,977 |
QTS Realty Trust, Inc., Class A | 12,121 | 745,563 |
Realogy Holdings Corp. * | 96,016 | 1,071,539 |
Sabra Health Care REIT, Inc. | 157,959 | 2,078,740 |
STAG Industrial, Inc. | 29,475 | 917,262 |
Security | Number of Shares | Value ($) |
Sunstone Hotel Investors, Inc. | 143,987 | 1,068,384 |
Urban Edge Properties | 45,418 | 426,929 |
33,188,222 | ||
Retailing 5.2% | ||
1-800-Flowers.com, Inc., Class A * | 86,145 | 1,708,255 |
Aaron's Holdings Co., Inc. | 39,510 | 2,064,793 |
At Home Group, Inc. * | 15,201 | 247,624 |
AutoNation, Inc. * | 46,055 | 2,612,700 |
Big Lots, Inc. | 35,381 | 1,684,136 |
Camping World Holdings, Inc., Class A | 46,392 | 1,226,604 |
CarParts.com, Inc. * | 66,470 | 843,504 |
Group 1 Automotive, Inc. | 24,273 | 2,574,880 |
Lithia Motors, Inc., Class A | 10,851 | 2,491,064 |
MarineMax, Inc. * | 62,656 | 1,878,427 |
Murphy USA, Inc. * | 16,479 | 2,015,217 |
PetMed Express, Inc. | 22,434 | 663,598 |
Rent-A-Center, Inc. | 46,430 | 1,434,687 |
RH * | 6,550 | 2,195,756 |
Sportsman's Warehouse Holdings, Inc. * | 77,932 | 1,014,675 |
Stamps.com, Inc. * | 3,861 | 861,930 |
25,517,850 | ||
Semiconductors & Semiconductor Equipment 4.0% | ||
Amkor Technology, Inc. * | 107,729 | 1,276,589 |
Axcelis Technologies, Inc. * | 21,139 | 466,538 |
Cirrus Logic, Inc. * | 84,982 | 5,852,710 |
FormFactor, Inc. * | 79,142 | 2,243,676 |
Inphi Corp. * | 20,080 | 2,806,381 |
MACOM Technology Solutions Holdings, Inc. * | 40,035 | 1,461,277 |
NeoPhotonics Corp. * | 243,424 | 1,657,717 |
Synaptics, Inc. * | 48,928 | 3,751,310 |
19,516,198 | ||
Software & Services 7.1% | ||
A10 Networks, Inc. * | 225,371 | 1,519,001 |
Agilysys, Inc. * | 101,969 | 2,761,320 |
Alarm.com Holdings, Inc. * | 11,215 | 654,171 |
Avaya Holdings Corp. * | 39,963 | 687,364 |
Box, Inc., Class A * | 277,556 | 4,302,118 |
CACI International, Inc., Class A * | 10,840 | 2,260,465 |
ChannelAdvisor Corp. * | 155,500 | 2,519,100 |
Domo, Inc., Class B * | 20,608 | 654,716 |
eGain Corp. * | 84,602 | 1,340,942 |
EVERTEC, Inc. | 71,178 | 2,368,804 |
Mimecast Ltd. * | 21,901 | 836,837 |
Mitek Systems, Inc. * | 393,653 | 4,900,980 |
Perspecta, Inc. | 48,739 | 873,890 |
Progress Software Corp. | 54,596 | 1,985,656 |
Qualys, Inc. * | 24,722 | 2,171,828 |
Sykes Enterprises, Inc. * | 64,459 | 2,207,076 |
Synchronoss Technologies, Inc. * | 144,079 | 399,099 |
Telenav, Inc. * | 240,827 | 980,166 |
Tenable Holdings, Inc. * | 37,879 | 1,292,053 |
The Hackett Group, Inc. | 20,262 | 261,785 |
34,977,371 | ||
Technology Hardware & Equipment 3.3% | ||
Avid Technology, Inc. * | 99,260 | 925,103 |
Badger Meter, Inc. | 13,773 | 1,010,112 |
Calix, Inc. * | 140,277 | 3,283,885 |
Ciena Corp. * | 116,395 | 4,584,799 |
Intellicheck, Inc. *(a) | 63,083 | 456,721 |
Lumentum Holdings, Inc. * | 9,284 | 767,694 |
Security | Number of Shares | Value ($) |
Luna Innovations, Inc. * | 42,026 | 265,184 |
OSI Systems, Inc. * | 54,576 | 4,211,084 |
Viavi Solutions, Inc. * | 66,153 | 816,989 |
16,321,571 | ||
Telecommunication Services 0.3% | ||
Liberty Latin America Ltd., Class A * | 46,144 | 452,211 |
Shenandoah Telecommunications Co. | 9,956 | 434,281 |
Spok Holdings, Inc. | 21,360 | 193,949 |
Telephone & Data Systems, Inc. | 38,837 | 660,229 |
1,740,670 | ||
Transportation 1.3% | ||
Air Transport Services Group, Inc. * | 52,260 | 1,465,370 |
ArcBest Corp. | 4,601 | 140,423 |
Atlas Air Worldwide Holdings, Inc. * | 26,106 | 1,544,431 |
Costamare, Inc. | 399,473 | 2,273,001 |
Daseke, Inc. * | 42,073 | 276,420 |
Grupo Aeroportuario del Centro Norte S.A.B. de C.V. ADR * | 8,184 | 296,097 |
SkyWest, Inc. | 8,114 | 235,549 |
US Xpress Enterprises, Inc., Class A * | 30,679 | 221,196 |
6,452,487 | ||
Utilities 2.6% | ||
Atlantic Power Corp. * | 555,593 | 1,105,630 |
Avista Corp. | 32,945 | 1,094,433 |
Black Hills Corp. | 10,321 | 584,788 |
Clearway Energy, Inc., Class A | 161,632 | 4,236,375 |
Consolidated Water Co., Ltd. | 52,800 | 531,168 |
NorthWestern Corp. | 11,944 | 622,641 |
Ormat Technologies, Inc. | 15,336 | 1,086,862 |
Portland General Electric Co. | 27,346 | 1,074,698 |
Spark Energy, Inc., Class A | 244,412 | 2,229,037 |
12,565,632 | ||
Total Common Stock | ||
(Cost $463,461,601) | 490,064,441 |
Security | Number of Shares | Value ($) |
Other Investment Company 1.0% of net assets | ||
Securities Lending Collateral 1.0% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (b) | 4,699,616 | 4,699,616 |
Total Other Investment Company | ||
(Cost $4,699,616) | 4,699,616 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.3% of net assets | ||
Time Deposits 0.3% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (c) | 1,441,419 | 1,441,419 |
Total Short-Term Investment | ||
(Cost $1,441,419) | 1,441,419 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $4,391,370. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
ADR — | American Depositary Receipt |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $490,064,441 | $— | $— | $490,064,441 | |
Other Investment Company1 | 4,699,616 | — | — | 4,699,616 | |
Short-Term Investment1 | — | 1,441,419 | — | 1,441,419 | |
Total | $494,764,057 | $1,441,419 | $— | $496,205,476 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $464,903,020) including securities on loan of $4,391,370 | $491,505,860 | |
Collateral invested for securities on loan, at value (cost $4,699,616) | 4,699,616 | |
Receivables: | ||
Investments sold | 1,103,163 | |
Dividends | 312,892 | |
Fund shares sold | 188,453 | |
Income from securities on loan | 5,742 | |
Prepaid expenses | + | 13,225 |
Total assets | 497,828,951 | |
Liabilities | ||
Collateral held for securities on loan | 4,699,616 | |
Payables: | ||
Investments bought | 853,748 | |
Investment adviser and administrator fees | 366,449 | |
Shareholder service fees | 109,891 | |
Fund shares redeemed | 230,626 | |
Accrued expenses | + | 90,701 |
Total liabilities | 6,351,031 | |
Net Assets | ||
Total assets | 497,828,951 | |
Total liabilities | – | 6,351,031 |
Net assets | $491,477,920 | |
Net Assets by Source | ||
Capital received from investors | 555,166,855 | |
Total distributable loss | (63,688,935) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$491,477,920 | 32,728,480 | $15.02 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $26,395) | $6,247,102 | |
Interest | 5,581 | |
Securities on loan, net | + | 73,783 |
Total investment income | 6,326,466 | |
Expenses | ||
Investment adviser and administrator fees | 4,069,530 | |
Shareholder service fees | 1,225,007 | |
Portfolio accounting fees | 55,376 | |
Professional fees | 36,211 | |
Registration fees | 29,805 | |
Shareholder reports | 26,484 | |
Custodian fees | 18,987 | |
Transfer agent fees | 11,177 | |
Independent trustees’ fees | 10,047 | |
Other expenses | + | 10,960 |
Total expenses | 5,493,584 | |
Expense reduction by CSIM and its affiliates | – | 11,177 |
Net expenses | – | 5,482,407 |
Net investment income | 844,059 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (49,609,654) | |
Net realized gains on futures contracts | + | 668,950 |
Net realized losses | (48,940,704) | |
Net change in unrealized appreciation (depreciation) on investments | + | (5,706,272) |
Net realized and unrealized losses | (54,646,976) | |
Decrease in net assets resulting from operations | ($53,802,917) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $844,059 | $521,857 | ||
Net realized losses | (48,940,704) | (40,911,996) | ||
Net change in unrealized appreciation (depreciation) | + | (5,706,272) | 43,145,274 | |
Increase (decrease) in net assets from operations | (53,802,917) | 2,755,135 | ||
Distributions to Shareholders | ||||
Total distributions | ($635,564) | ($105,061,725) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 5,747,653 | $80,000,238 | 8,709,089 | $139,266,609 | ||||
Shares reinvested | 28,552 | 496,524 | 5,236,122 | 80,112,670 | ||||
Shares redeemed | + | (7,764,392) | (113,723,120) | (6,703,704) | (111,336,125) | |||
Net transactions in fund shares | (1,988,187) | ($33,226,358) | 7,241,507 | $108,043,154 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 34,716,667 | $579,142,759 | 27,475,160 | $573,406,195 | ||||
Total increase or decrease | + | (1,988,187) | (87,664,839) | 7,241,507 | 5,736,564 | |||
End of period | 32,728,480 | $491,477,920 | 34,716,667 | $579,142,759 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.49 | $16.89 | $17.65 | $16.25 | $17.46 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | (0.01) | 0.07 | 0.08 | 0.03 | 0.03 | |
Net realized and unrealized gains (losses) | (1.42) | (0.34) | 0.24 | 1.85 | 0.49 | |
Total from investment operations | (1.43) | (0.27) | 0.32 | 1.88 | 0.52 | |
Less distributions: | ||||||
Distributions from net investment income | (0.10) | (0.08) | (0.01) | — | (0.12) | |
Distributions from net realized gains | — | (1.05) | (1.07) | (0.48) | (1.61) | |
Total distributions | (0.10) | (1.13) | (1.08) | (0.48) | (1.73) | |
Net asset value at end of period | $13.96 | $15.49 | $16.89 | $17.65 | $16.25 | |
Total return | (9.33%) | (1.31%) | 1.75% | 11.71% | 3.55% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses (including dividend expense on short sales) | 1.92% | 1.93% | 1.66% | 1.64% | 1.85% | |
Net operating expenses (excluding dividend expense on short sales) | 1.34% 2 | 1.34% 2 | 1.33% | 1.33% | 1.57% 3 | |
Gross operating expenses | 1.96% | 1.95% | 1.67% | 1.65% | 1.87% | |
Net investment income (loss) | (0.04%) | 0.46% | 0.43% | 0.16% | 0.22% | |
Portfolio turnover rate | 168% | 176% | 180% | 163% | 142% | |
Net assets, end of period (x 1,000,000) | $67 | $182 | $300 | $252 | $204 | |
Security | Number of Shares | Value ($) |
Common Stock 99.3% of net assets | ||
Automobiles & Components 0.6% | ||
Dana, Inc. | 12,995 | 181,800 |
Thor Industries, Inc. | 1,856 | 156,980 |
Winnebago Industries, Inc. | 1,406 | 66,012 |
404,792 | ||
Banks 4.5% | ||
Bank of America Corp. | 8,661 | 205,266 |
Citigroup, Inc. (a) | 13,307 | 551,176 |
Fifth Third Bancorp | 4,338 | 100,728 |
First BanCorp (a) | 141,243 | 916,667 |
Flagstar Bancorp, Inc. | 3,234 | 94,918 |
JPMorgan Chase & Co. | 4,778 | 468,435 |
Popular, Inc. | 13,296 | 561,091 |
Wells Fargo & Co. | 6,313 | 135,414 |
3,033,695 | ||
Capital Goods 6.8% | ||
Allison Transmission Holdings, Inc. (a) | 1,633 | 59,033 |
Atkore International Group, Inc. * | 7,485 | 154,865 |
BWX Technologies, Inc. | 2,073 | 114,036 |
Comfort Systems USA, Inc. | 736 | 33,709 |
Dover Corp. (a) | 8,485 | 939,374 |
EMCOR Group, Inc. | 1,977 | 134,812 |
Generac Holdings, Inc. * | 410 | 86,161 |
Herc Holdings, Inc. * | 9,655 | 428,296 |
Hubbell, Inc. | 552 | 80,321 |
Huntington Ingalls Industries, Inc. | 516 | 76,100 |
Lockheed Martin Corp. (a) | 2,813 | 984,916 |
Masonite International Corp. * | 1,214 | 106,832 |
Mueller Industries, Inc. | 4,859 | 140,571 |
Northrop Grumman Corp. (a) | 1,843 | 534,138 |
Pentair plc | 1,394 | 69,365 |
Rexnord Corp. | 8,197 | 262,960 |
UFP Industries, Inc. | 7,317 | 365,191 |
4,570,680 | ||
Commercial & Professional Services 2.1% | ||
ABM Industries, Inc. | 2,937 | 101,973 |
ASGN, Inc. * | 4,733 | 315,596 |
CoreLogic, Inc. | 7,123 | 547,972 |
Huron Consulting Group, Inc. * | 4,964 | 187,937 |
ManpowerGroup, Inc. | 826 | 56,061 |
McGrath RentCorp | 2,345 | 133,853 |
RELX plc ADR | 4,362 | 86,062 |
1,429,454 | ||
Consumer Durables & Apparel 3.3% | ||
Brunswick Corp. | 249 | 15,864 |
Crocs, Inc. * | 2,354 | 123,185 |
Deckers Outdoor Corp. * | 768 | 194,588 |
Lennar Corp., Class A | 347 | 24,370 |
Polaris, Inc. | 1,714 | 155,734 |
Security | Number of Shares | Value ($) |
Tempur Sealy International, Inc. *(a) | 7,388 | 657,532 |
TRI Pointe Group, Inc. * | 28,734 | 472,099 |
YETI Holdings, Inc. * | 11,143 | 551,356 |
2,194,728 | ||
Consumer Services 1.5% | ||
Hilton Worldwide Holdings, Inc. | 2,276 | 199,856 |
International Game Technology plc | 9,747 | 80,023 |
Marriott Vacations Worldwide Corp. (a) | 549 | 53,033 |
Papa John's International, Inc. | 1,342 | 102,797 |
Perdoceo Education Corp. * | 29,615 | 334,353 |
Wyndham Hotels & Resorts, Inc. | 5,276 | 245,387 |
1,015,449 | ||
Diversified Financials 2.4% | ||
Affiliated Managers Group, Inc. | 1,831 | 138,002 |
Ameriprise Financial, Inc. | 829 | 133,328 |
Artisan Partners Asset Management, Inc., Class A | 2,442 | 97,827 |
Capital One Financial Corp. (a) | 6,508 | 475,605 |
Jefferies Financial Group, Inc. | 3,580 | 69,846 |
Lazard Ltd., Class A | 9,730 | 327,609 |
OneMain Holdings, Inc. | 4,243 | 148,038 |
Synchrony Financial | 3,790 | 94,826 |
T. Rowe Price Group, Inc. | 1,149 | 145,532 |
1,630,613 | ||
Energy 1.9% | ||
Cimarex Energy Co. | 22,873 | 580,288 |
ConocoPhillips | 1,744 | 49,913 |
EOG Resources, Inc. | 1,878 | 64,303 |
HollyFrontier Corp. | 3,096 | 57,307 |
National Oilwell Varco, Inc. | 5,954 | 50,014 |
Phillips 66 (a) | 1,103 | 51,466 |
Renewable Energy Group, Inc. * | 1,704 | 96,105 |
Schlumberger N.V. | 8,354 | 124,809 |
Targa Resources Corp. | 11,020 | 176,871 |
1,251,076 | ||
Food & Staples Retailing 2.7% | ||
BJ's Wholesale Club Holdings, Inc. * | 3,465 | 132,675 |
Koninklijke Ahold Delhaize N.V. ADR | 22,194 | 611,667 |
Sprouts Farmers Market, Inc. * | 11,943 | 227,514 |
The Kroger Co. (a) | 26,187 | 843,483 |
1,815,339 | ||
Food, Beverage & Tobacco 3.9% | ||
Altria Group, Inc. | 4,665 | 168,313 |
Campbell Soup Co. | 2,878 | 134,316 |
Coca-Cola Consolidated, Inc. | 1,787 | 409,134 |
Conagra Brands, Inc. | 7,863 | 275,913 |
Darling Ingredients, Inc. * | 1,979 | 85,097 |
Flowers Foods, Inc. | 18,490 | 435,994 |
General Mills, Inc. | 2,505 | 148,096 |
Mondelez International, Inc., Class A | 8,768 | 465,756 |
Security | Number of Shares | Value ($) |
TreeHouse Foods, Inc. * | 6,442 | 250,207 |
Tyson Foods, Inc., Class A | 4,682 | 267,951 |
2,640,777 | ||
Health Care Equipment & Services 4.9% | ||
Cerner Corp. | 13,416 | 940,327 |
CVS Health Corp. (a) | 572 | 32,083 |
Danaher Corp. | 1,057 | 242,624 |
DaVita, Inc. * | 1,124 | 96,945 |
Edwards Lifesciences Corp. * | 4,645 | 333,000 |
HCA Healthcare, Inc. (a) | 2,441 | 302,538 |
Hill-Rom Holdings, Inc. | 4,264 | 388,323 |
Hologic, Inc. *(a) | 10,589 | 728,735 |
ResMed, Inc. | 983 | 188,677 |
Veeva Systems, Inc., Class A * | 248 | 66,972 |
3,320,224 | ||
Household & Personal Products 0.5% | ||
Spectrum Brands Holdings, Inc. | 1,240 | 70,519 |
Unilever N.V., NY Shares | 4,048 | 228,955 |
299,474 | ||
Insurance 2.4% | ||
Aflac, Inc. | 3,375 | 114,581 |
Fidelity National Financial, Inc. | 4,956 | 155,073 |
The Allstate Corp. (a) | 15,379 | 1,364,887 |
1,634,541 | ||
Materials 4.0% | ||
Axalta Coating Systems Ltd. *(a) | 15,185 | 381,295 |
Berry Global Group, Inc. * | 10,379 | 483,973 |
Commercial Metals Co. | 9,598 | 198,199 |
Fortescue Metals Group Ltd. ADR | 4,613 | 112,234 |
Reliance Steel & Aluminum Co. | 5,054 | 550,836 |
Summit Materials, Inc., Class A * | 17,268 | 305,471 |
The Chemours Co. | 2,388 | 48,094 |
The Sherwin-Williams Co. | 497 | 341,926 |
Tronox Holdings plc, Class A * | 18,189 | 177,707 |
Vale S.A. ADR | 6,802 | 71,897 |
2,671,632 | ||
Media & Entertainment 6.6% | ||
Activision Blizzard, Inc. | 8,968 | 679,147 |
Alphabet, Inc., Class A *(a) | 813 | 1,313,897 |
Altice USA, Inc., Class A * | 2,486 | 66,998 |
Charter Communications, Inc., Class A * | 1,133 | 684,128 |
Electronic Arts, Inc. * | 279 | 33,433 |
Facebook, Inc., Class A *(a) | 5,335 | 1,403,692 |
Gray Television, Inc. * | 5,321 | 67,470 |
Take-Two Interactive Software, Inc. * | 219 | 33,927 |
World Wrestling Entertainment, Inc., Class A | 3,520 | 127,987 |
4,410,679 | ||
Pharmaceuticals, Biotechnology & Life Sciences 7.1% | ||
AbbVie, Inc. | 3,360 | 285,936 |
Alexion Pharmaceuticals, Inc. * | 4,848 | 558,199 |
Amgen, Inc. | 742 | 160,970 |
Bristol-Myers Squibb Co. | 12,665 | 740,269 |
Eli Lilly & Co. | 753 | 98,236 |
Emergent BioSolutions, Inc. * | 5,574 | 501,493 |
Gilead Sciences, Inc. | 2,456 | 142,817 |
Medpace Holdings, Inc. * | 379 | 42,046 |
Security | Number of Shares | Value ($) |
Neurocrine Biosciences, Inc. * | 1,368 | 134,981 |
Novartis AG ADR (a) | 12,686 | 990,523 |
Novavax, Inc. * | 420 | 33,898 |
PerkinElmer, Inc. | 327 | 42,363 |
Perrigo Co., plc | 4,498 | 197,327 |
Regeneron Pharmaceuticals, Inc. * | 256 | 139,151 |
Roche Holding AG ADR | 11,167 | 446,568 |
United Therapeutics Corp. * | 1,416 | 190,070 |
Vertex Pharmaceuticals, Inc. * | 440 | 91,678 |
4,796,525 | ||
Real Estate 3.1% | ||
Alexander & Baldwin, Inc. | 5,134 | 65,972 |
Corporate Office Properties Trust | 25,484 | 571,606 |
Cousins Properties, Inc. | 18,437 | 469,775 |
EastGroup Properties, Inc. (a) | 4,156 | 553,081 |
First Industrial Realty Trust, Inc. | 1,765 | 70,265 |
Highwoods Properties, Inc. | 4,198 | 124,974 |
Prologis, Inc. (a) | 2,546 | 252,563 |
2,108,236 | ||
Retailing 9.7% | ||
Aaron's Holdings Co., Inc. | 1,728 | 90,305 |
Amazon.com, Inc. *(a) | 942 | 2,860,053 |
AutoNation, Inc. * | 2,100 | 119,133 |
Best Buy Co., Inc. (a) | 11,020 | 1,229,281 |
Dollar General Corp. | 2,527 | 527,410 |
eBay, Inc. | 2,610 | 124,314 |
Etsy, Inc. * | 334 | 40,611 |
Lowe's Cos., Inc. | 3,550 | 561,255 |
Qurate Retail, Inc. Class A | 7,297 | 49,401 |
Target Corp. (a) | 3,704 | 563,823 |
The Home Depot, Inc. | 698 | 186,164 |
Williams-Sonoma, Inc. | 1,901 | 173,390 |
6,525,140 | ||
Semiconductors & Semiconductor Equipment 3.7% | ||
Amkor Technology, Inc. * | 27,471 | 325,531 |
Cirrus Logic, Inc. * | 11,653 | 802,542 |
Intel Corp. (a) | 2,637 | 116,767 |
NVIDIA Corp. | 762 | 382,036 |
Qorvo, Inc. *(a) | 4,347 | 553,634 |
Synaptics, Inc. * | 4,161 | 319,024 |
2,499,534 | ||
Software & Services 14.5% | ||
Adobe, Inc. * | 776 | 346,950 |
Autodesk, Inc. * | 882 | 207,746 |
Box, Inc., Class A * | 32,180 | 498,790 |
CACI International, Inc., Class A *(a) | 1,465 | 305,496 |
Cadence Design Systems, Inc. *(a) | 2,989 | 326,907 |
DocuSign, Inc. * | 200 | 40,450 |
Dropbox, Inc., Class A * | 21,566 | 393,795 |
Fair Isaac Corp. * | 246 | 96,297 |
Fortinet, Inc. * | 5,377 | 593,459 |
Mastercard, Inc., Class A (a) | 3,354 | 968,099 |
Microsoft Corp. (a) | 14,271 | 2,889,449 |
Mimecast Ltd. * | 816 | 31,179 |
Perspecta, Inc. | 5,326 | 95,495 |
Progress Software Corp. (a) | 7,599 | 276,376 |
Science Applications International Corp. | 3,618 | 276,307 |
ServiceNow, Inc. * | 329 | 163,700 |
SS&C Technologies Holdings, Inc. | 11,522 | 682,333 |
SVMK, Inc. * | 17,375 | 363,659 |
Security | Number of Shares | Value ($) |
Synopsys, Inc. *(a) | 4,697 | 1,004,500 |
Visa, Inc., Class A | 1,029 | 186,980 |
9,747,967 | ||
Technology Hardware & Equipment 7.8% | ||
Apple Inc. (a) | 32,113 | 3,495,821 |
Ciena Corp. * | 11,389 | 448,613 |
Jabil, Inc. (a) | 24,622 | 815,973 |
SYNNEX Corp. | 3,551 | 467,454 |
5,227,861 | ||
Telecommunication Services 0.5% | ||
AT&T, Inc. | 9,321 | 251,853 |
CenturyLink, Inc. | 9,740 | 83,959 |
335,812 | ||
Transportation 2.2% | ||
Air Transport Services Group, Inc. * | 15,320 | 429,573 |
Atlas Air Worldwide Holdings, Inc. * | 1,227 | 72,589 |
Marten Transport Ltd. | 21,704 | 333,048 |
Old Dominion Freight Line, Inc. | 193 | 36,741 |
Werner Enterprises, Inc. | 9,904 | 376,550 |
XPO Logistics, Inc. * | 2,426 | 218,340 |
1,466,841 | ||
Utilities 2.6% | ||
Entergy Corp. | 5,477 | 554,382 |
NRG Energy, Inc. (a) | 29,916 | 945,944 |
Vistra Corp. (a) | 15,583 | 270,677 |
1,771,003 | ||
Total Common Stock | ||
(Cost $56,263,093) | 66,802,072 | |
Preferred Stock 0.1% of net assets | ||
Retailing 0.1% | ||
Qurate Retail, Inc. | 453 | 44,312 |
Total Preferred Stock | ||
(Cost $42,510) | 44,312 |
Security | Number of Shares | Value ($) |
Short Sales (39.0%) of net assets | ||
Automobiles & Components (0.5%) | ||
Fox Factory Holding Corp. | 3,976 | (334,302) |
Banks (1.6%) | ||
Cullen/Frost Bankers, Inc. | 8,331 | (585,419) |
First Hawaiian, Inc. | 2,905 | (50,140) |
Old National Bancorp | 1,726 | (24,130) |
Triumph Bancorp, Inc. | 6,257 | (263,607) |
Truist Financial Corp. | 3,432 | (144,556) |
(1,067,852) | ||
Capital Goods (4.6%) | ||
A O Smith Corp. | 2,960 | (153,002) |
Air Lease Corp. | 9,432 | (256,928) |
Cubic Corp. | 3,097 | (183,064) |
Enerpac Tool Group Corp. | 3,704 | (66,042) |
Ingersoll Rand, Inc. | 12,431 | (434,339) |
Jacobs Engineering Group, Inc. | 3,717 | (353,115) |
Kaman Corp. | 7,051 | (279,643) |
Kennametal, Inc. | 2,529 | (78,399) |
Kratos Defense & Security Solutions, Inc. | 9,450 | (178,510) |
Plug Power, Inc. | 13,298 | (186,172) |
Spirit AeroSystems Holdings, Inc., Class A | 20,996 | (381,917) |
The Boeing Co. | 2,310 | (333,541) |
Vicor Corp. | 2,842 | (221,676) |
(3,106,348) | ||
Commercial & Professional Services (1.1%) | ||
IHS Markit Ltd. | 4,231 | (342,161) |
MSA Safety, Inc. | 554 | (73,084) |
The Brink's Co. | 5,315 | (227,641) |
Upwork, Inc. | 4,362 | (80,479) |
(723,365) | ||
Consumer Durables & Apparel (1.8%) | ||
Acushnet Holdings Corp. | 2,269 | (77,441) |
Hasbro, Inc. | 5,746 | (475,309) |
Leggett & Platt, Inc. | 2,604 | (108,665) |
Under Armour, Inc., Class A | 37,944 | (525,145) |
(1,186,560) | ||
Consumer Services (2.0%) | ||
Bright Horizons Family Solutions, Inc. | 1,268 | (200,407) |
Hyatt Hotels Corp., Class A | 2,913 | (160,623) |
Las Vegas Sands Corp. | 2,419 | (116,257) |
MGM Resorts International | 20,902 | (429,954) |
Planet Fitness, Inc., Class A | 602 | (35,681) |
Royal Caribbean Cruises Ltd. | 3,182 | (179,528) |
Vail Resorts, Inc. | 862 | (200,019) |
(1,322,469) | ||
Security | Number of Shares | Value ($) |
Diversified Financials (1.6%) | ||
Cannae Holdings, Inc. | 10,005 | (369,985) |
FirstCash, Inc. | 9,030 | (469,921) |
Green Dot Corp., Class A | 4,182 | (222,984) |
(1,062,890) | ||
Energy (0.7%) | ||
Equitrans Midstream Corp. | 5,197 | (37,730) |
ONEOK, Inc. | 12,463 | (361,427) |
PBF Energy, Inc., Class A | 13,486 | (62,980) |
(462,137) | ||
Food & Staples Retailing (0.6%) | ||
Sysco Corp. | 7,484 | (413,940) |
Food, Beverage & Tobacco (1.4%) | ||
Cal-Maine Foods, Inc. | 16,460 | (631,241) |
Freshpet, Inc. | 1,372 | (157,094) |
J & J Snack Foods Corp. | 1,105 | (149,805) |
(938,140) | ||
Health Care Equipment & Services (1.3%) | ||
1Life Healthcare, Inc. | 8,802 | (248,304) |
Glaukos Corp. | 1,755 | (98,140) |
Guardant Health, Inc. | 1,465 | (156,257) |
Penumbra, Inc. | 977 | (255,026) |
The Cooper Cos., Inc. | 395 | (126,025) |
(883,752) | ||
Materials (2.1%) | ||
Albemarle Corp. | 2,559 | (238,525) |
Allegheny Technologies, Inc. | 8,696 | (80,090) |
Ball Corp. | 4,164 | (370,596) |
Huntsman Corp. | 861 | (20,914) |
Olin Corp. | 7,017 | (116,131) |
Quaker Chemical Corp. | 2,846 | (542,988) |
Trinseo S.A. | 1,500 | (47,730) |
(1,416,974) | ||
Media & Entertainment (1.0%) | ||
Live Nation Entertainment, Inc. | 4,846 | (236,485) |
TripAdvisor, Inc. | 11,491 | (219,593) |
Twitter, Inc. | 5,501 | (227,521) |
(683,599) | ||
Pharmaceuticals, Biotechnology & Life Sciences (0.7%) | ||
Alnylam Pharmaceuticals, Inc. | 351 | (43,162) |
Arrowhead Pharmaceuticals, Inc. | 1,302 | (74,605) |
Natera, Inc. | 2,218 | (149,183) |
NeoGenomics, Inc. | 5,918 | (232,163) |
(499,113) | ||
Real Estate (3.6%) | ||
American Campus Communities, Inc. | 12,810 | (479,863) |
EPR Properties | 5,190 | (123,730) |
Federal Realty Investment Trust | 12,743 | (876,464) |
Pebblebrook Hotel Trust | 3,736 | (44,757) |
Security | Number of Shares | Value ($) |
The Howard Hughes Corp. | 6,265 | (389,620) |
Washington Real Estate Investment Trust | 29,040 | (507,619) |
(2,422,053) | ||
Retailing (4.9%) | ||
Burlington Stores, Inc. | 3,302 | (639,201) |
Carvana Co. | 1,088 | (201,661) |
Expedia Group, Inc. | 5,718 | (538,350) |
Five Below, Inc. | 3,318 | (442,422) |
Floor & Decor Holdings, Inc., Class A | 1,782 | (130,086) |
Foot Locker, Inc. | 6,667 | (245,879) |
National Vision Holdings, Inc. | 4,884 | (196,972) |
Ross Stores, Inc. | 5,245 | (446,717) |
The Gap, Inc. | 16,743 | (325,651) |
The TJX Cos., Inc. | 3,004 | (152,603) |
(3,319,542) | ||
Semiconductors & Semiconductor Equipment (2.0%) | ||
Analog Devices, Inc. | 988 | (117,108) |
Brooks Automation, Inc. | 3,263 | (152,382) |
Cree, Inc. | 5,465 | (347,574) |
First Solar, Inc. | 1,511 | (131,525) |
Marvell Technology Group Ltd. | 1,951 | (73,182) |
ON Semiconductor Corp. | 9,568 | (240,061) |
Universal Display Corp. | 1,337 | (265,140) |
(1,326,972) | ||
Software & Services (4.1%) | ||
Black Knight, Inc. | 2,107 | (185,311) |
Ceridian HCM Holding, Inc. | 1,315 | (113,379) |
Coupa Software, Inc. | 255 | (68,263) |
Fastly, Inc., Class A | 1,254 | (79,642) |
Fidelity National Information Services, Inc. | 1,531 | (190,747) |
Guidewire Software, Inc. | 3,544 | (340,614) |
NortonLifeLock, Inc. | 6,699 | (137,798) |
Nuance Communications, Inc. | 7,238 | (230,965) |
Nutanix, Inc., Class A | 2,447 | (59,560) |
Security | Number of Shares | Value ($) |
Ping Identity Holding Corp. | 3,095 | (85,701) |
Q2 Holdings, Inc. | 3,611 | (329,468) |
Rapid7, Inc. | 3,549 | (219,790) |
Smartsheet, Inc., Class A | 825 | (41,126) |
Splunk, Inc. | 1,502 | (297,456) |
Square, Inc., Class A | 1,372 | (212,495) |
Twilio, Inc., Class A | 188 | (52,446) |
Yext, Inc. | 4,858 | (80,546) |
(2,725,307) | ||
Technology Hardware & Equipment (2.7%) | ||
Cognex Corp. | 8,601 | (566,806) |
II-VI, Inc. | 2,003 | (91,077) |
IPG Photonics Corp. | 917 | (170,525) |
Littelfuse, Inc. | 716 | (141,725) |
Novanta, Inc. | 7,807 | (848,777) |
(1,818,910) | ||
Transportation (0.3%) | ||
JetBlue Airways Corp. | 3,319 | (39,728) |
Southwest Airlines Co. | 1,902 | (75,186) |
United Airlines Holdings, Inc. | 3,567 | (120,779) |
(235,693) | ||
Utilities (0.4%) | ||
Edison International | 4,356 | (244,110) |
New Jersey Resources Corp. | 1,050 | (30,639) |
(274,749) | ||
Total Short Sales | ||
(Proceeds $26,792,419) | (26,224,667) |
* | Non-income producing security. |
(a) | All or a portion of this security is held as collateral for short sales. |
ADR — | American Depositary Receipt |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $66,802,072 | $— | $— | $66,802,072 | |
Preferred Stock1 | 44,312 | — | — | 44,312 | |
Liabilities | |||||
Short Sales1 | (26,224,667) | — | — | (26,224,667) | |
Total | $40,621,717 | $— | $— | $40,621,717 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $56,305,603) | $66,846,384 | |
Deposit with broker for short sales | 26,738,574 | |
Receivables: | ||
Investments sold | 273,221 | |
Dividends | 48,625 | |
Fund shares sold | 753 | |
Prepaid expenses | + | 13,192 |
Total assets | 93,920,749 | |
Liabilities | ||
Securities sold short, at value (proceeds $26,792,419) | 26,224,667 | |
Payables: | ||
Investments bought | 103,964 | |
Investment adviser and administrator fees | 64,201 | |
Shareholder service fees | 12,209 | |
Due to custodian | 60,559 | |
Fund shares redeemed | 45,494 | |
Dividends on short sales | 19,826 | |
Accrued expenses | + | 124,592 |
Total liabilities | 26,655,512 | |
Net Assets | ||
Total assets | 93,920,749 | |
Total liabilities | – | 26,655,512 |
Net assets | $67,265,237 | |
Net Assets by Source | ||
Capital received from investors | 77,227,254 | |
Total distributable loss | (9,962,017) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$67,265,237 | 4,817,227 | $13.96 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $24,964) | $1,975,201 | |
Rebates on short sales, net of fees | 194,374 | |
Securities on loan, net | + | 215 |
Total investment income | 2,169,790 | |
Expenses | ||
Investment adviser and administrator fees | 1,213,594 | |
Shareholder service fees | 242,891 | |
Dividends on short sales | 666,460 | |
Professional fees | 38,923 | |
Portfolio accounting fees | 25,856 | |
Registration fees | 25,414 | |
Custodian fees | 9,293 | |
Interest expense | 8,560 | |
Independent trustees’ fees | 8,316 | |
Transfer agent fees | 7,960 | |
Shareholder reports | 6,824 | |
Other expenses | + | 4,937 |
Total expenses | 2,259,028 | |
Expense reduction by CSIM and its affiliates | – | 46,789 |
Net expenses | – | 2,212,239 |
Net investment loss | (42,449) | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (381,875) | |
Net realized gains on futures contracts | 376,569 | |
Net realized losses on short sales | + | (4,821,374) |
Net realized losses | (4,826,680) | |
Net change in unrealized appreciation (depreciation) on investments | (4,949,781) | |
Net change in unrealized appreciation (depreciation) on short sales | + | (1,090,069) |
Net change in unrealized appreciation (depreciation) | + | (6,039,850) |
Net realized and unrealized losses | (10,866,530) | |
Decrease in net assets resulting from operations | ($10,908,979) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income (loss) | ($42,449) | $1,100,935 | ||
Net realized losses | (4,826,680) | (15,812,685) | ||
Net change in unrealized appreciation (depreciation) | + | (6,039,850) | 7,919,579 | |
Decrease in net assets from operations | (10,908,979) | (6,792,171) | ||
Distributions to Shareholders | ||||
Total distributions | ($1,081,623) | ($19,341,478) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 805,921 | $12,059,020 | 3,932,131 | $60,687,628 | ||||
Shares reinvested | 39,687 | 632,208 | 1,047,501 | 15,597,289 | ||||
Shares redeemed | + | (7,802,666) | (115,824,167) | (10,987,256) | (168,052,659) | |||
Net transactions in fund shares | (6,957,058) | ($103,132,939) | (6,007,624) | ($91,767,742) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 11,774,285 | $182,388,778 | 17,781,909 | $300,290,169 | ||||
Total decrease | + | (6,957,058) | (115,123,541) | (6,007,624) | (117,901,391) | |||
End of period | 4,817,227 | $67,265,237 | 11,774,285 | $182,388,778 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $25.08 | $25.85 | $25.44 | $21.56 | $26.68 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.26 | 0.26 | 0.23 | 0.21 | 0.19 | |
Net realized and unrealized gains (losses) | 2.11 | 1.27 | 1.96 | 4.24 | (1.52) | |
Total from investment operations | 2.37 | 1.53 | 2.19 | 4.45 | (1.33) | |
Less distributions: | ||||||
Distributions from net investment income | (0.29) | (0.24) | (0.24) | (0.20) | (0.16) | |
Distributions from net realized gains | (0.89) | (2.06) | (1.54) | (0.37) | (3.63) | |
Total distributions | (1.18) | (2.30) | (1.78) | (0.57) | (3.79) | |
Net asset value at end of period | $26.27 | $25.08 | $25.85 | $25.44 | $21.56 | |
Total return | 9.57% | 6.51% | 9.13% | 21.10% | (5.78%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.80% | 0.80% | 0.80% | 0.81% | 0.80% | |
Gross operating expenses | 0.80% | 0.80% | 0.80% | 0.81% | 0.80% | |
Net investment income (loss) | 1.01% | 1.05% | 0.91% | 0.89% | 0.82% | |
Portfolio turnover rate | 73% | 45% | 45% | 42% | 54% | |
Net assets, end of period (x 1,000,000) | $746 | $779 | $826 | $853 | $853 | |
Security | Number of Shares | Value ($) |
Common Stock 99.4% of net assets | ||
Australia 0.5% | ||
Ansell Ltd. | 128,571 | 3,635,612 |
China 0.6% | ||
Wuxi Biologics Cayman, Inc. * | 156,000 | 4,381,059 |
Denmark 1.0% | ||
Chemometec A/S | 9,989 | 578,798 |
Genmab A/S * | 5,704 | 1,905,278 |
Novo Nordisk A/S, Class B | 76,520 | 4,879,346 |
7,363,422 | ||
France 1.1% | ||
Ipsen S.A. | 28,430 | 2,589,402 |
Sartorius Stedim Biotech | 15,738 | 5,968,008 |
8,557,410 | ||
Germany 0.6% | ||
Fresenius Medical Care AG & Co. KGaA | 35,115 | 2,681,458 |
Fresenius SE & Co. KGaA | 44,047 | 1,633,854 |
4,315,312 | ||
Hong Kong 0.6% | ||
CSPC Pharmaceutical Group Ltd. | 662,400 | 703,419 |
Livzon Pharmaceutical Group, Inc., H Shares (a) | 897,400 | 3,977,251 |
4,680,670 | ||
Ireland 3.5% | ||
Horizon Therapeutics plc * | 118,574 | 8,884,750 |
Medtronic plc | 100,274 | 10,084,556 |
STERIS plc | 39,707 | 7,035,683 |
26,004,989 | ||
Italy 0.6% | ||
DiaSorin S.p.A. | 21,920 | 4,812,068 |
Japan 2.4% | ||
Hoya Corp. | 61,500 | 6,940,699 |
Kanamic Network Co., Ltd. | 50,000 | 379,254 |
M3, Inc. | 31,000 | 2,093,607 |
Ono Pharmaceutical Co., Ltd. | 140,300 | 4,002,087 |
Takara Bio, Inc. | 25,000 | 680,784 |
Takeda Pharmaceutical Co., Ltd. | 129,000 | 3,986,434 |
18,082,865 | ||
Luxembourg 0.1% | ||
Eurofins Scientific SE * | 1,000 | 796,320 |
Security | Number of Shares | Value ($) |
New Zealand 1.0% | ||
Fisher & Paykel Healthcare Corp., Ltd. | 318,978 | 7,379,359 |
Republic of Korea 1.1% | ||
Boditech Med, Inc. | 20,000 | 562,362 |
Celltrion, Inc. * | 12,000 | 2,562,284 |
DongKook Pharmaceutical Co., Ltd. | 25,140 | 537,863 |
Hugel, Inc. * | 10,000 | 1,862,454 |
LegoChem Biosciences, Inc. * | 20,000 | 936,303 |
Samsung Biologics Co., Ltd. * | 3,000 | 1,812,891 |
8,274,157 | ||
Spain 0.1% | ||
Pharma Mar S.A. | 2,820 | 378,577 |
Sweden 1.3% | ||
Arjo AB, B Shares | 234,001 | 1,663,284 |
Getinge AB, B Shares | 321,606 | 6,297,035 |
Swedish Orphan Biovitrum AB * | 84,656 | 1,459,980 |
9,420,299 | ||
Switzerland 4.7% | ||
Novartis AG | 61,395 | 4,784,057 |
Roche Holding AG | 74,840 | 24,048,438 |
Sonova Holding AG * | 12,390 | 2,940,987 |
Tecan Group AG | 6,457 | 3,064,029 |
34,837,511 | ||
Taiwan 0.5% | ||
TaiDoc Technology Corp. | 517,000 | 4,186,116 |
United Kingdom 0.8% | ||
AstraZeneca plc | 61,962 | 6,221,324 |
United States 78.9% | ||
Abbott Laboratories | 387,644 | 40,745,261 |
AbbVie, Inc. | 288,451 | 24,547,180 |
Agilent Technologies, Inc. | 112,142 | 11,448,577 |
Alexion Pharmaceuticals, Inc. * | 83,934 | 9,664,161 |
Amedisys, Inc. * | 33,512 | 8,679,608 |
Amgen, Inc. | 148,423 | 32,198,886 |
Anthem, Inc. | 22,092 | 6,026,698 |
Bio-Rad Laboratories, Inc., Class A * | 4,076 | 2,390,248 |
Bio-Techne Corp. | 22,802 | 5,755,453 |
Biogen, Inc. * | 18,353 | 4,626,241 |
Bristol-Myers Squibb Co. | 429,000 | 25,075,050 |
Catalent, Inc. * | 30,926 | 2,714,375 |
Chemed Corp. | 13,072 | 6,252,599 |
CONMED Corp. | 15,018 | 1,170,953 |
Danaher Corp. | 77,364 | 17,758,133 |
DaVita, Inc. * | 64,205 | 5,537,681 |
DexCom, Inc. * | 14,857 | 4,748,000 |
Edwards Lifesciences Corp. * | 181,836 | 13,035,823 |
Eli Lilly & Co. | 218,950 | 28,564,217 |
Security | Number of Shares | Value ($) |
Emergent BioSolutions, Inc. * | 59,874 | 5,386,864 |
Gilead Sciences, Inc. | 209,241 | 12,167,364 |
HCA Healthcare, Inc. | 13,262 | 1,643,692 |
Hill-Rom Holdings, Inc. | 13,494 | 1,228,899 |
Hologic, Inc. * | 226,417 | 15,582,018 |
Humana, Inc. | 20,487 | 8,180,049 |
IDEXX Laboratories, Inc. * | 18,361 | 7,800,120 |
Illumina, Inc. * | 23,182 | 6,785,371 |
Intuitive Surgical, Inc. * | 2,647 | 1,765,761 |
Johnson & Johnson | 273,704 | 37,527,555 |
Laboratory Corp. of America Holdings * | 1,863 | 372,171 |
LHC Group, Inc. * | 9,788 | 2,119,591 |
Medpace Holdings, Inc. * | 15,223 | 1,688,840 |
Merck & Co., Inc. | 508,537 | 38,247,068 |
Meridian Bioscience, Inc. * | 117,986 | 2,023,460 |
Mettler-Toledo International, Inc. * | 4,735 | 4,725,104 |
Molina Healthcare, Inc. * | 41,739 | 7,783,071 |
Neurocrine Biosciences, Inc. * | 13,179 | 1,300,372 |
PerkinElmer, Inc. | 34,840 | 4,513,522 |
Pfizer, Inc. | 664,256 | 23,567,803 |
Quest Diagnostics, Inc. | 9,078 | 1,108,787 |
Security | Number of Shares | Value ($) |
Regeneron Pharmaceuticals, Inc. * | 22,858 | 12,424,694 |
Repligen Corp. * | 30,643 | 5,104,204 |
ResMed, Inc. | 36,610 | 7,026,923 |
Retrophin, Inc. * | 39,175 | 792,902 |
Thermo Fisher Scientific, Inc. | 79,272 | 37,505,169 |
United Therapeutics Corp. * | 3,685 | 494,638 |
UnitedHealth Group, Inc. | 151,204 | 46,138,389 |
Veeva Systems, Inc., Class A * | 17,461 | 4,715,343 |
Vertex Pharmaceuticals, Inc. * | 72,750 | 15,158,190 |
West Pharmaceutical Services, Inc. | 28,015 | 7,622,041 |
Zimmer Biomet Holdings, Inc. | 15,232 | 2,012,147 |
Zoetis, Inc. | 80,869 | 12,821,780 |
588,273,046 | ||
Total Common Stock | ||
(Cost $516,900,992) | 741,600,116 |
* | Non-income producing security. |
(a) | Represents a China based company which is listed on the Hong Kong exchange and traded in Hong Kong dollars. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $614,278,035 | $— | $— | $614,278,035 | |
Australia | — | 3,635,612 | — | 3,635,612 | |
China | — | 4,381,059 | — | 4,381,059 | |
Denmark | — | 7,363,422 | — | 7,363,422 | |
France | 5,968,008 | 2,589,402 | — | 8,557,410 | |
Germany | — | 4,315,312 | — | 4,315,312 | |
Hong Kong | — | 4,680,670 | — | 4,680,670 | |
Italy | — | 4,812,068 | — | 4,812,068 | |
Japan | — | 18,082,865 | — | 18,082,865 | |
Luxembourg | — | 796,320 | — | 796,320 | |
New Zealand | — | 7,379,359 | — | 7,379,359 | |
Republic of Korea | — | 8,274,157 | — | 8,274,157 | |
Spain | — | 378,577 | — | 378,577 | |
Sweden | 1,663,284 | 7,757,015 | — | 9,420,299 | |
Switzerland | — | 34,837,511 | — | 34,837,511 | |
Taiwan | — | 4,186,116 | — | 4,186,116 | |
United Kingdom | — | 6,221,324 | — | 6,221,324 | |
Total | $621,909,327 | $119,690,789 | $— | $741,600,116 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $516,900,992) | $741,600,116 | |
Foreign currency, at value (cost $2,223,436) | 2,216,970 | |
Receivables: | ||
Investments sold | 7,634,050 | |
Foreign tax reclaims | 1,376,118 | |
Dividends | 914,311 | |
Fund shares sold | 415,913 | |
Prepaid expenses | + | 16,107 |
Total assets | 754,173,585 | |
Liabilities | ||
Payables: | ||
Investments bought | 7,306,987 | |
Investment adviser and administrator fees | 362,889 | |
Shareholder service fees | 155,438 | |
Fund shares redeemed | 522,440 | |
Due to custodian | 8,048 | |
Accrued expenses | + | 112,490 |
Total liabilities | 8,468,292 | |
Net Assets | ||
Total assets | 754,173,585 | |
Total liabilities | – | 8,468,292 |
Net assets | $745,705,293 | |
Net Assets by Source | ||
Capital received from investors | 438,126,307 | |
Total distributable earnings | 307,578,986 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$745,705,293 | 28,385,542 | $26.27 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $420,688) | $13,845,217 | |
Interest | 10,758 | |
Securities on loan, net | + | 50,127 |
Total investment income | 13,906,102 | |
Expenses | ||
Investment adviser and administrator fees | 4,101,607 | |
Shareholder service fees | 1,776,076 | |
Portfolio accounting fees | 84,580 | |
Custodian fees | 39,531 | |
Shareholder reports | 37,425 | |
Professional fees | 34,647 | |
Registration fees | 30,665 | |
Transfer agent fees | 23,712 | |
Independent trustees’ fees | 11,200 | |
Other expenses | + | 22,061 |
Total expenses | 6,161,504 | |
Expense reduction by CSIM and its affiliates | – | 23,712 |
Net expenses | – | 6,137,792 |
Net investment income | 7,768,310 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 77,453,384 | |
Net realized gains on futures contracts | 49,223 | |
Net realized gains on foreign currency transactions | + | 22,011 |
Net realized gains | 77,524,618 | |
Net change in unrealized appreciation (depreciation) on investments | (16,843,543) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 86,702 |
Net change in unrealized appreciation (depreciation) | + | (16,756,841) |
Net realized and unrealized gains | 60,767,777 | |
Increase in net assets resulting from operations | $68,536,087 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $7,768,310 | $8,419,505 | ||
Net realized gains | 77,524,618 | 26,005,472 | ||
Net change in unrealized appreciation (depreciation) | + | (16,756,841) | 14,471,726 | |
Increase in net assets from operations | 68,536,087 | 48,896,703 | ||
Distributions to Shareholders | ||||
Total distributions | ($35,647,551) | ($73,744,967) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 2,950,067 | $75,727,246 | 2,837,228 | $69,277,171 | ||||
Shares reinvested | 1,220,267 | 31,165,636 | 2,764,704 | 64,998,182 | ||||
Shares redeemed | + | (6,832,001) | (172,829,403) | (6,495,890) | (156,442,620) | |||
Net transactions in fund shares | (2,661,667) | ($65,936,521) | (893,958) | ($22,167,267) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 31,047,209 | $778,753,278 | 31,941,167 | $825,768,809 | ||||
Total decrease | + | (2,661,667) | (33,047,985) | (893,958) | (47,015,531) | |||
End of period | 28,385,542 | $745,705,293 | 31,047,209 | $778,753,278 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $10.04 | $9.64 | $11.27 | $9.20 | $9.62 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.14 | 0.24 | 0.24 | 0.22 | 0.22 | |
Net realized and unrealized gains (losses) | (0.71) | 0.41 | (1.58) | 2.08 | (0.45) | |
Total from investment operations | (0.57) | 0.65 | (1.34) | 2.30 | (0.23) | |
Less distributions: | ||||||
Distributions from net investment income | (0.36) | (0.25) | (0.26) | (0.23) | (0.19) | |
Distributions from net realized gains | — | — | (0.03) | — | — | |
Total distributions | (0.36) | (0.25) | (0.29) | (0.23) | (0.19) | |
Net asset value at end of period | $9.11 | $10.04 | $9.64 | $11.27 | $9.20 | |
Total return | (6.01%) | 7.08% | (12.18%) | 25.58% | (2.41%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% | |
Gross operating expenses | 0.88% | 0.87% | 0.89% | 0.90% | 0.91% | |
Net investment income (loss) | 1.51% | 2.44% | 2.22% | 2.15% | 2.40% | |
Portfolio turnover rate | 97% | 91% | 98% | 85% | 90% | |
Net assets, end of period (x 1,000,000) | $664 | $976 | $1,166 | $1,227 | $772 | |
Security | Number of Shares | Value ($) |
Common Stock 99.3% of net assets | ||
Australia 5.2% | ||
Australia & New Zealand Banking Group Ltd. | 680,929 | 9,036,358 |
Coles Group Ltd. | 369,682 | 4,618,169 |
Evolution Mining Ltd. | 299,766 | 1,175,213 |
Fortescue Metals Group Ltd. | 314,321 | 3,845,243 |
JB Hi-Fi Ltd. | 51,376 | 1,716,753 |
Macquarie Group Ltd. | 33,022 | 2,944,240 |
Magellan Financial Group Ltd. | 131,886 | 5,111,709 |
Netwealth Group Ltd. | 82,617 | 1,003,430 |
Rio Tinto Ltd. | 16,674 | 1,084,708 |
Santos Ltd. | 520,539 | 1,730,472 |
Sonic Healthcare Ltd. | 85,089 | 2,084,087 |
34,350,382 | ||
Austria 0.9% | ||
BAWAG Group AG * | 39,093 | 1,435,697 |
Wienerberger AG | 192,618 | 4,859,044 |
6,294,741 | ||
Belgium 0.7% | ||
bpost S.A. | 220,895 | 1,957,436 |
Euronav N.V. | 360,446 | 2,633,730 |
4,591,166 | ||
Canada 1.0% | ||
Constellation Software, Inc. | 2,700 | 2,834,341 |
Endeavour Mining Corp. * | 113,857 | 2,792,800 |
Royal Bank of Canada | 13,600 | 950,969 |
6,578,110 | ||
China 0.2% | ||
Meituan, B Shares * | 45,000 | 1,677,562 |
Denmark 3.2% | ||
Genmab A/S * | 9,759 | 3,259,748 |
Novo Nordisk A/S, Class B | 235,502 | 15,016,934 |
Novozymes A/S, Class B | 50,573 | 3,041,519 |
21,318,201 | ||
Finland 0.9% | ||
Kemira Oyj | 78,407 | 968,633 |
Kone Oyj, Class B | 52,649 | 4,191,551 |
Neste Oyj | 18,982 | 989,979 |
6,150,163 | ||
France 10.4% | ||
Air Liquide S.A. | 53,770 | 7,863,232 |
Christian Dior SE | 14,963 | 6,367,701 |
Cie de Saint-Gobain * | 132,024 | 5,142,798 |
CNP Assurances * | 368,965 | 4,161,420 |
Credit Agricole S.A. * | 337,171 | 2,667,203 |
Security | Number of Shares | Value ($) |
Gaztransport Et Technigaz S.A. | 38,911 | 3,729,882 |
Ipsen S.A. | 16,320 | 1,486,425 |
L'Oreal S.A. | 45,893 | 14,831,942 |
LVMH Moet Hennessy Louis Vuitton SE | 13,857 | 6,495,437 |
Schneider Electric SE | 105,112 | 12,771,782 |
Veolia Environnement S.A. | 188,556 | 3,509,525 |
69,027,347 | ||
Germany 6.8% | ||
Aareal Bank AG * | 143,050 | 2,471,719 |
Aurubis AG | 20,119 | 1,287,082 |
Bayerische Motoren Werke AG | 64,636 | 4,417,142 |
Brenntag AG | 65,292 | 4,173,228 |
Deutsche Post AG | 31,936 | 1,415,978 |
GEA Group AG | 234,754 | 7,818,177 |
HelloFresh SE * | 47,292 | 2,527,134 |
Hornbach Holding AG & Co. KGaA | 51,535 | 4,963,674 |
KION Group AG | 16,878 | 1,315,149 |
Knorr-Bremse AG | 22,479 | 2,603,094 |
MorphoSys AG * | 38,402 | 3,914,255 |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 2,667 | 625,084 |
SAP SE | 16,646 | 1,775,871 |
Siemens AG | 3,500 | 410,606 |
Symrise AG | 13,384 | 1,650,386 |
Teamviewer AG * | 35,927 | 1,583,591 |
Wacker Chemie AG | 20,015 | 1,930,888 |
44,883,058 | ||
Greece 0.2% | ||
Hellenic Telecommunications Organization S.A. | 122,692 | 1,627,105 |
Hong Kong 2.3% | ||
AIA Group Ltd. | 159,000 | 1,513,231 |
Longfor Group Holdings Ltd. | 535,960 | 2,936,583 |
Tencent Holdings Ltd. | 140,006 | 10,697,244 |
15,147,058 | ||
Ireland 0.3% | ||
Smurfit Kappa Group plc | 57,451 | 2,164,702 |
Italy 2.6% | ||
Ferrari N.V. | 47,112 | 8,404,397 |
Italgas S.p.A. | 1,525,538 | 8,815,676 |
17,220,073 | ||
Japan 27.2% | ||
Advantest Corp. | 81,800 | 4,738,098 |
Anritsu Corp. | 60,000 | 1,313,548 |
BayCurrent Consulting, Inc. | 15,000 | 1,940,855 |
Bridgestone Corp. | 40,500 | 1,320,097 |
Capcom Co., Ltd. | 31,000 | 1,695,438 |
Daifuku Co., Ltd. | 14,500 | 1,495,208 |
Security | Number of Shares | Value ($) |
Elecom Co., Ltd. | 28,000 | 1,402,252 |
Fuji Corp. | 35,000 | 703,639 |
Fujitsu Ltd. | 34,000 | 4,022,696 |
GMO Payment Gateway, Inc. | 31,000 | 3,798,382 |
Honda Motor Co., Ltd. | 144,000 | 3,406,022 |
Hoya Corp. | 108,763 | 12,274,654 |
IR Japan Holdings Ltd. | 17,900 | 1,981,834 |
Izumi Co., Ltd. | 8,000 | 271,310 |
Japan Exchange Group, Inc. | 42,000 | 1,025,355 |
K's Holdings Corp. | 11,200 | 143,034 |
Kanamoto Co., Ltd. | 69,000 | 1,423,454 |
KDDI Corp. | 153,900 | 4,163,763 |
Keyence Corp. | 17,000 | 7,714,982 |
Kintetsu World Express, Inc. | 152,300 | 3,237,602 |
M3, Inc. | 60,200 | 4,065,650 |
Macnica Fuji Electronics Holdings, Inc. | 40,000 | 715,348 |
Medical Data Vision Co., Ltd. (a) | 13,500 | 317,033 |
Meitec Corp. | 46,000 | 2,280,457 |
Mercari, Inc. * | 20,000 | 840,847 |
Mitsubishi Electric Corp. | 156,000 | 2,009,106 |
Mitsubishi UFJ Financial Group, Inc. | 406,847 | 1,603,752 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 887,900 | 3,762,024 |
Nabtesco Corp. | 43,300 | 1,617,611 |
Nexon Co., Ltd. | 172,600 | 4,810,516 |
Nidec Corp. | 10,000 | 1,010,020 |
Nihon M&A Center, Inc. | 30,600 | 1,796,879 |
Nintendo Co., Ltd. | 30,000 | 16,220,662 |
Nomura Holdings, Inc. | 1,134,100 | 5,078,996 |
Omron Corp. | 61,000 | 4,404,568 |
Ono Pharmaceutical Co., Ltd. | 136,700 | 3,899,396 |
Senko Group Holdings Co., Ltd. | 177,000 | 1,582,921 |
Seria Co., Ltd. | 33,000 | 1,271,461 |
Shimano, Inc. | 1,300 | 297,330 |
Shin-Etsu Chemical Co., Ltd. | 54,979 | 7,343,367 |
SMC Corp. | 6,000 | 3,191,431 |
SoftBank Group Corp. | 16,000 | 1,042,140 |
Sony Corp. | 209,298 | 17,448,426 |
T&D Holdings, Inc. | 511,000 | 5,106,973 |
Tokai Tokyo Financial Holdings, Inc. | 200,000 | 514,942 |
Tokyo Electron Ltd. | 36,600 | 9,823,836 |
Tokyo Steel Manufacturing Co., Ltd. | 261,353 | 1,663,187 |
Trend Micro, Inc. | 90,000 | 5,041,360 |
ValueCommerce Co., Ltd. | 65,000 | 2,059,473 |
Wacom Co., Ltd. | 481,300 | 3,164,072 |
Welcia Holdings Co., Ltd. | 104,000 | 4,072,783 |
ZOZO, Inc. | 188,500 | 4,781,847 |
180,910,637 | ||
Netherlands 5.6% | ||
ASML Holding N.V. | 5,789 | 2,094,477 |
Euronext N.V. | 17,992 | 1,873,354 |
Koninklijke Ahold Delhaize N.V. | 468,825 | 12,853,197 |
Signify N.V. * | 94,912 | 3,368,932 |
Unilever N.V. | 186,040 | 10,487,770 |
Wolters Kluwer N.V. | 79,476 | 6,434,906 |
37,112,636 | ||
New Zealand 0.9% | ||
a2 Milk Co., Ltd. * | 108,298 | 1,048,668 |
Fisher & Paykel Healthcare Corp., Ltd. | 169,552 | 3,922,481 |
Spark New Zealand Ltd. | 252,406 | 749,056 |
5,720,205 | ||
Security | Number of Shares | Value ($) |
Norway 0.1% | ||
Aker BP A.S.A. | 40,403 | 629,210 |
Republic of Korea 1.8% | ||
Samsung Biologics Co., Ltd. * | 4,633 | 2,799,708 |
Samsung Electronics Co., Ltd. | 181,305 | 9,113,406 |
11,913,114 | ||
Singapore 1.1% | ||
Keppel DC REIT | 950,000 | 2,017,054 |
Sheng Siong Group Ltd. | 2,060,000 | 2,517,853 |
Singapore Exchange Ltd. | 397,909 | 2,523,678 |
7,058,585 | ||
Spain 2.7% | ||
ACS Actividades de Construccion y Servicios S.A. | 72,628 | 1,726,420 |
Iberdrola S.A. | 245,139 | 2,894,498 |
Industria de Diseno Textil S.A. | 429,112 | 10,594,485 |
Pharma Mar S.A. | 18,814 | 2,525,724 |
17,741,127 | ||
Sweden 1.3% | ||
Evolution Gaming Group AB | 43,504 | 3,226,703 |
Paradox Interactive AB | 40,761 | 1,263,233 |
Sandvik AB * | 225,468 | 4,018,986 |
8,508,922 | ||
Switzerland 11.3% | ||
ALSO Holding AG * | 3,500 | 818,883 |
Credit Suisse Group AG | 1,160,650 | 10,946,520 |
Geberit AG | 12,548 | 7,141,936 |
Givaudan S.A. | 320 | 1,304,940 |
Nestle S.A. | 132,994 | 14,958,884 |
Novartis AG | 143,568 | 11,187,189 |
Roche Holding AG | 60,266 | 19,365,355 |
Schindler Holding AG | 7,216 | 1,848,488 |
Sonova Holding AG * | 13,601 | 3,228,440 |
Zurich Insurance Group AG | 13,695 | 4,548,733 |
75,349,368 | ||
Taiwan 0.8% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. | 350,000 | 5,295,386 |
United Kingdom 11.8% | ||
3i Group plc | 375,187 | 4,685,969 |
AstraZeneca plc | 62,126 | 6,237,790 |
Barclays plc * | 2,009,113 | 2,784,778 |
BHP Group plc | 582,018 | 11,275,056 |
Ferguson plc | 36,131 | 3,588,563 |
Games Workshop Group plc | 35,219 | 4,734,716 |
GlaxoSmithKline plc | 406,054 | 6,780,484 |
GVC Holdings plc * | 149,749 | 1,875,910 |
Hikma Pharmaceuticals plc | 70,929 | 2,306,147 |
JD Sports Fashion plc | 289,203 | 2,782,271 |
Land Securities Group plc | 58,375 | 385,159 |
London Stock Exchange Group plc | 28,182 | 3,037,958 |
Natwest Group plc * | 1,250,646 | 2,016,488 |
Reckitt Benckiser Group plc | 15,095 | 1,329,696 |
Security | Number of Shares | Value ($) |
RELX plc | 65,498 | 1,296,068 |
Royal Dutch Shell plc, A Shares | 308,850 | 3,885,172 |
Spirent Communications plc | 1,025,133 | 3,848,595 |
Standard Chartered plc * | 376,915 | 1,722,428 |
Unilever plc | 234,670 | 13,373,566 |
Vodafone Group plc | 379,071 | 505,669 |
78,452,483 | ||
Total Common Stock | ||
(Cost $593,481,507) | 659,721,341 | |
Other Investment Company 0.0% of net assets | ||
Securities Lending Collateral 0.0% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (b) | 315,008 | 315,008 |
Total Other Investment Company | ||
(Cost $315,008) | 315,008 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $300,595. |
(b) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $— | $352,027,448 | $— | $352,027,448 | |
Austria | 4,859,044 | 1,435,697 | — | 6,294,741 | |
Canada | 6,578,110 | — | — | 6,578,110 | |
France | 6,367,701 | 62,659,646 | — | 69,027,347 | |
Germany | 7,566,768 | 37,316,290 | — | 44,883,058 | |
Japan | 4,072,783 | 176,837,854 | — | 180,910,637 | |
Other Investment Company1 | 315,008 | — | — | 315,008 | |
Total | $29,759,414 | $630,276,935 | $— | $660,036,349 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $593,481,507) including securities on loan of $300,595 | $659,721,341 | |
Collateral invested for securities on loan, at value (cost $315,008) | 315,008 | |
Foreign currency, at value (cost $981,629) | 965,703 | |
Deposit with broker for futures contracts | 387,200 | |
Receivables: | ||
Investments sold | 2,348,983 | |
Foreign tax reclaims | 1,778,724 | |
Dividends | 1,712,031 | |
Fund shares sold | 118,610 | |
Income from securities on loan | 48 | |
Prepaid expenses | + | 15,827 |
Total assets | 667,363,475 | |
Liabilities | ||
Collateral held for securities on loan | 315,008 | |
Payables: | ||
Investments bought | 1,035,453 | |
Investment adviser and administrator fees | 358,963 | |
Shareholder service fees | 148,188 | |
Due to custodian | 584,747 | |
Fund shares redeemed | 157,034 | |
Accrued expenses | + | 277,522 |
Total liabilities | 2,876,915 | |
Net Assets | ||
Total assets | 667,363,475 | |
Total liabilities | – | 2,876,915 |
Net assets | $664,486,560 | |
Net Assets by Source | ||
Capital received from investors | 772,870,132 | |
Total distributable loss | (108,383,572) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$664,486,560 | 72,971,719 | $9.11 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $2,251,471) | $18,691,393 | |
Securities on loan, net | + | 94,261 |
Total investment income | 18,785,654 | |
Expenses | ||
Investment adviser and administrator fees | 4,607,643 | |
Shareholder service fees | 1,943,806 | |
Custodian fees | 164,498 | |
Portfolio accounting fees | 83,365 | |
Professional fees | 43,222* | |
Registration fees | 32,065 | |
Transfer agent fees | 31,855 | |
Shareholder reports | 25,693 | |
Independent trustees’ fees | 11,383 | |
Other expenses | + | 30,221 |
Total expenses | 6,973,751 | |
Expense reduction by CSIM and its affiliates | – | 133,246* |
Net expenses | – | 6,840,505 |
Net investment income | 11,945,149 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (49,468,365) | |
Net realized gains on futures contracts | 89,571 | |
Net realized losses on foreign currency transactions | + | (99,924) |
Net realized losses | (49,478,718) | |
Net change in unrealized appreciation (depreciation) on investments | (22,787,222) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 108,919 |
Net change in unrealized appreciation (depreciation) | + | (22,678,303) |
Net realized and unrealized losses | (72,157,021) | |
Decrease in net assets resulting from operations | ($60,211,872) |
* | Includes professional fees of $304 associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2(d) and 4 for additional information. |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $11,945,149 | $25,716,639 | ||
Net realized losses | (49,478,718) | (113,223,498) | ||
Net change in unrealized appreciation (depreciation) | + | (22,678,303) | 154,448,499 | |
Increase (decrease) in net assets from operations | (60,211,872) | 66,941,640 | ||
Distributions to Shareholders | ||||
Total distributions | ($34,016,026) | ($29,979,566) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 10,774,447 | $93,817,527 | 16,140,498 | $153,928,560 | ||||
Shares reinvested | 2,656,064 | 26,826,251 | 2,751,748 | 24,710,692 | ||||
Shares redeemed | + | (37,617,681) | (337,440,372) | (42,745,841) | (406,370,048) | |||
Net transactions in fund shares | (24,187,170) | ($216,796,594) | (23,853,595) | ($227,730,796) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 97,158,889 | $975,511,052 | 121,012,484 | $1,166,279,774 | ||||
Total decrease | + | (24,187,170) | (311,024,492) | (23,853,595) | (190,768,722) | |||
End of period | 72,971,719 | $664,486,560 | 97,158,889 | $975,511,052 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Core Equity Fund | Schwab Target 2040 Fund |
Schwab Dividend Equity Fund | Schwab Target 2045 Fund |
Schwab Large-Cap Growth Fund | Schwab Target 2050 Fund |
Schwab Small-Cap Equity Fund | Schwab Target 2055 Fund |
Schwab Hedged Equity Fund | Schwab Target 2060 Fund |
Schwab Health Care Fund | Schwab Fundamental US Large Company Index Fund |
Schwab International Core Equity Fund | Schwab Fundamental US Small Company Index Fund |
Schwab S&P 500 Index Fund | Schwab Fundamental International Large Company Index Fund |
Schwab Small-Cap Index Fund® | Schwab Fundamental International Small Company Index Fund |
Schwab Total Stock Market Index Fund® | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab U.S. Large-Cap Growth Index Fund | Schwab Fundamental Global Real Estate Index Fund |
Schwab U.S. Large-Cap Value Index Fund | Schwab Target 2010 Index Fund |
Schwab U.S. Mid-Cap Index Fund | Schwab Target 2015 Index Fund |
Schwab International Index Fund® | Schwab Target 2020 Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2025 Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2030 Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2035 Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2040 Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2045 Index Fund |
Schwab Balanced Fund | Schwab Target 2050 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2020 Fund | Schwab Monthly Income Fund - Moderate Payout |
Schwab Target 2025 Fund | Schwab Monthly Income Fund - Enhanced Payout |
Schwab Target 2030 Fund | Schwab Monthly Income Fund - Maximum Payout |
Schwab Target 2035 Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
% of Average Daily Net Assets | Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | Schwab International Core Equity Fund |
Flat rate | 0.47% | 0.62% | 0.72% | 0.81% | 1.05% | 0.58% |
% of Average Daily Net Assets | Schwab Health Care Fund |
First $500 million | 0.54% |
$500 million to $1 billion | 0.515% |
Over $1 billion | 0.49% |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | Schwab Health Care Fund | Schwab International Core Equity Fund |
0.75% | 0.89% | 0.99% | 1.12% | 1.33%* | 0.82% | 0.86% |
* | Excludes dividend expenses and stock loan fees paid on securities sold short. |
Underlying Funds | |||||||
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Small-Cap Equity Fund | Schwab International Core Equity Fund | ||||
Schwab Balanced Fund | 10.0% | —% | 12.2% | —% | |||
Schwab Monthly Income Fund - Enhanced Payout | —% | 2.8% | —% | —% | |||
Schwab Monthly Income Fund - Maximum Payout | —% | 1.8% | —% | —% | |||
Schwab Monthly Income Fund - Moderate Payout | —% | 2.1% | —% | —% | |||
Schwab Target 2010 Fund | 0.1% | 0.0%* | 0.1% | 0.3% | |||
Schwab Target 2015 Fund | 0.2% | 0.0%* | 0.2% | 0.4% | |||
Schwab Target 2020 Fund | 1.4% | 0.1% | 1.4% | 3.1% | |||
Schwab Target 2025 Fund | 2.4% | 0.2% | 2.5% | 4.9% | |||
Schwab Target 2030 Fund | 4.7% | 1.3% | 5.9% | 10.0% | |||
Schwab Target 2035 Fund | 2.6% | 1.2% | 3.6% | 5.5% | |||
Schwab Target 2040 Fund | 5.8% | 3.4% | 8.7% | 12.6% | |||
Schwab Target 2045 Fund | 1.1% | 0.7% | 1.7% | 2.5% | |||
Schwab Target 2050 Fund | 1.2% | 0.9% | 1.9% | 2.6% | |||
Schwab Target 2055 Fund | 0.7% | 0.5% | 1.1% | 1.6% | |||
Schwab Target 2060 Fund | 0.1% | 0.1% | 0.2% | 0.3% |
* | Less than 0.05% |
6. Borrowing from Banks:
7. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities | |
Schwab Core Equity Fund | $1,978,478,108 | $2,283,423,385 |
Schwab Dividend Equity Fund | 477,020,466 | 626,895,003 |
Schwab Large-Cap Growth Fund | 124,220,884 | 132,960,796 |
Schwab Small-Cap Equity Fund | 561,532,378 | 591,942,091 |
Schwab Hedged Equity Fund* | 193,640,978 | 251,117,671 |
Schwab Health Care Fund | 555,524,784 | 646,692,776 |
Schwab International Core Equity Fund | 761,016,151 | 999,732,177 |
* | Including securities sold short. |
8. Derivatives:
Notional Amounts | Number of Contracts | |
Schwab Core Equity Fund | $1,979,005 | 12 |
Schwab Dividend Equity Fund | 193,458 | 1 |
Schwab Large-Cap Growth Fund | 1,176,115 | 7 |
Schwab Small-Cap Equity Fund | 1,179,737 | 19 |
Schwab Hedged Equity Fund | 124,000 | 1 |
Schwab Health Care Fund | 74,564 | 0* |
Schwab International Core Equity Fund | 534,065 | 6 |
* | Less than 0.5 |
9. Federal Income Taxes:
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | Schwab Health Care Fund | Schwab International Core Equity Fund | |||||||
Tax cost | $1,494,739,283 | $544,918,166 | $118,835,822 | $470,233,990 | $29,767,357 | $518,340,673 | $595,885,510 | ||||||
Gross unrealized appreciation | $513,905,415 | $67,149,039 | $93,689,248 | $67,986,367 | $16,377,024 | $232,467,443 | $93,792,642 | ||||||
Gross unrealized depreciation | (54,272,607) | (35,902,980) | (2,782,762) | (42,014,881) | (5,522,664) | (9,208,000) | (29,641,803) | ||||||
Net unrealized appreciation (depreciation) | $459,632,808 | $31,246,059 | $90,906,486 | $25,971,486 | $10,854,360 | $223,259,443 | $64,150,839 |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |||||
Undistributed ordinary income | $14,352,526 | $1,465,256 | $— | $729,099 | $— | ||||
Undistributed long-term capital gains | 80,768,403 | — | 2,529,980 | — | — | ||||
Net unrealized appreciation (depreciation) on investments | 459,632,808 | 31,246,059 | 90,906,486 | 25,971,486 | 10,854,360 | ||||
Net other unrealized appreciation (depreciation) | — | 8,729 | — | — | — | ||||
Total | $554,753,737 | $32,720,044 | $93,436,466 | $26,700,585 | $10,854,360 |
Schwab Health Care Fund | Schwab International Core Equity Fund | ||
Undistributed ordinary income | $6,243,172 | $6,772,256 | |
Undistributed long-term capital gains | 78,003,865 | — | |
Net unrealized appreciation (depreciation) on investments | 223,259,443 | 64,150,839 | |
Net other unrealized appreciation (depreciation) | 72,506 | 104,535 | |
Total | $307,578,986 | $71,027,630 |
Expiration Date | Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | ||||
No expiration | $— | $28,724,068 | $— | $90,389,520 | $20,528,902 | ||||
Total | $— | $28,724,068 | $— | $90,389,520 | $20,528,902 |
Expiration Date | Schwab Health Care Fund | Schwab International Core Equity Fund | |
No expiration | $— | $179,411,202 | |
Total | $— | $179,411,202 |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |
Ordinary losses deferred | $— | $— | $106,728 | $— | $280,648 |
Schwab Health Care Fund | Schwab International Core Equity Fund | |
Ordinary losses deferred | $— | $— |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |
Current fiscal year end distributions | |||||
Ordinary income | $19,826,971 | $13,605,187 | $244,834 | $635,564 | $1,081,623 |
Long-term capital gains | 44,092,670 | 44,139,966 | 9,460,933 | — | — |
Prior fiscal year end distributions | |||||
Ordinary income | $50,106,445 | $17,703,109 | $6,863,262 | $47,742,964 | $2,154,010 |
Long-term capital gains | 208,707,447 | 98,971,136 | 17,392,917 | 57,318,761 | 17,187,468 |
Schwab Health Care Fund | Schwab International Core Equity Fund | |
Current fiscal year end distributions | ||
Ordinary income | $8,653,407 | $34,016,026 |
Long-term capital gains | 26,994,144 | — |
Prior fiscal year end distributions | ||
Ordinary income | $13,608,829 | $29,979,566 |
Long-term capital gains | 60,136,138 | — |
10. Independent Registered Public Accounting Firm:
11. Subsequent Events:
Denver, Colorado
December 16, 2020
Percentage | |
Schwab Core Equity Fund | 100.00 |
Schwab Dividend Equity Fund | 100.00 |
Schwab Large-Cap Growth Fund | 100.00 |
Schwab Small-Cap Equity Fund | 100.00 |
Schwab Hedged Equity Fund | 100.00 |
Schwab Health Care Fund | 100.00 |
Schwab International Core Equity Fund | — |
Schwab Core Equity Fund | $19,826,971 |
Schwab Dividend Equity Fund | 13,605,187 |
Schwab Large-Cap Growth Fund | 244,834 |
Schwab Small-Cap Equity Fund | 635,564 |
Schwab Hedged Equity Fund | 1,081,623 |
Schwab Health Care Fund | 8,653,407 |
Schwab International Core Equity Fund | 32,386,919 |
Schwab Core Equity Fund | $44,092,670 |
Schwab Dividend Equity Fund | 44,139,966 |
Schwab Large-Cap Growth Fund | 9,460,933 |
Schwab Small-Cap Equity Fund | — |
Schwab Hedged Equity Fund | — |
Schwab Health Care Fund | 26,994,144 |
Schwab International Core Equity Fund | — |
1. | the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | each Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
1 | The meeting on June 9, 2020 was held telephonically in reliance on exemptive relief from the in-person voting requirement under the 1940 Act as provided by the Securities and Exchange Commission. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 100 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 100 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 100 | None |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting). | 100 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 100 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 100 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 100 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 100 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors). | 100 | Director (2012 – present), Eaton Corporation plc |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 100 | Director (2008 – present), The Charles Schwab Corporation |
Interested Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jonathan de St. Paer2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. | 100 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 100 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Mr. de St. Paer and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
New Notice Regarding Shareholder Report Delivery Options |
Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/schwabfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically. |
If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request: |
• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing; |
• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or |
• If owned directly through a fund by calling 1-800-407-0256. |
If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action. |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab Balanced Fund (Ticker Symbol: SWOBX) | 8.58% |
Balanced Blended Index | 7.91% |
Fund Category: Morningstar Allocation—50% to 70% Equity1 | 3.88% |
Performance Details | pages 7-9 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
President of Charles Schwab
Investment Management, Inc.
and the fund covered
in this report.
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Zifan Tang, Ph.D., CFA, Senior Portfolio Manager, is responsible for the co-management of the fund. Prior to joining CSIM in January 2012, Ms. Tang was a product manager at Thomson Reuters and from 1997 to 2009 worked as a portfolio manager at Barclays Global Investors (now known as BlackRock). |
Patrick Kwok, CFA, Portfolio Manager, is responsible for the co-management of the fund. Previously, Mr. Kwok served as an associate portfolio manager with CSIM from 2012 to 2016. Prior to that, he worked as a fund administration manager for CSIM, where he was responsible for oversight of sub-advisers, trading, cash management, and fund administration for the Charles Schwab Trust Bank Collective Investment Trusts and Schwab’s multi-asset mutual funds. Prior to joining CSIM in 2008, Mr. Kwok spent two years as an asset operations specialist at Charles Schwab Trust Company. He also worked for one year at State Street Bank & Trust as a portfolio accountant and pricing specialist. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Balanced Fund (11/18/96) | 8.58% | 7.66% | 8.51% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Balanced Blended Index | 7.91% | 8.40% | 8.98% |
Fund Category: Morningstar Allocation—50% to 70% Equity2 | 3.88% | 6.23% | 7.13% |
Fund Expense Ratios3: Net 0.51%; Gross 0.55% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.51% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 6 |
Portfolio Turnover Rate | 18% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Expense Ratio (Annualized)1,2 | Effective Expense Ratio (Annualized)3,4 | Beginning Account Value at 5/1/20 | Ending Account Value (Net of Expenses) at 10/31/20 | Expenses Paid During Period 5/1/20-10/31/202,5 | Effective Expenses Paid During Period 5/1/20-10/31/204,5 | |
Schwab Balanced Fund | ||||||
Actual Return | 0.00% | 0.50% | $1,000.00 | $1,087.70 | $0.00 | $2.62 |
Hypothetical 5% Return | 0.00% | 0.50% | $1,000.00 | $1,025.10 | $0.00 | $2.54 |
1 | Based on the most recent six-month expense ratio. |
2 | Excludes acquired fund fees and expenses, which are indirect expenses incurred by the fund through its investments in underlying funds. |
3 | Based on the most recent six-month acquired fund fees and expense ratio; may differ from the acquired fund fees and expense ratio in the prospectus. |
4 | Includes acquired fund fees and expenses, which are indirect expenses incurred by the fund through its investments in underlying funds. |
5 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.99 | $15.41 | $15.60 | $14.51 | $15.40 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.20 | 0.24 | 0.23 | 0.21 | 0.19 | |
Net realized and unrealized gains (losses) | 1.13 | 1.32 | 0.08 2 | 1.96 | 0.00 3 | |
Total from investment operations | 1.33 | 1.56 | 0.31 | 2.17 | 0.19 | |
Less distributions: | ||||||
Distributions from net investment income | (0.22) | (0.37) | (0.48) | (0.22) | (0.32) | |
Distributions from net realized gains | (0.60) | (0.61) | (0.02) | (0.86) | (0.76) | |
Total distributions | (0.82) | (0.98) | (0.50) | (1.08) | (1.08) | |
Net asset value at end of period | $16.50 | $15.99 | $15.41 | $15.60 | $14.51 | |
Total return | 8.58% | 11.19% | 1.94% | 15.90% | 1.41% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses4 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% 5 | |
Gross operating expenses4 | 0.03% | 0.04% | 0.04% | 0.06% | 0.06% | |
Net investment income (loss) | 1.26% | 1.55% | 1.44% | 1.39% | 1.34% | |
Portfolio turnover rate | 18% | 32% | 6% | 28% 6 | 19% | |
Net assets, end of period (x 1,000,000) | $577 | $526 | $447 | $386 | $282 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.7% of net assets | ||
Equity Funds 59.8% | ||
Large-Cap 49.4% | ||
Laudus U.S. Large Cap Growth Fund | 3,300,449 | 89,442,175 |
Schwab Core Equity Fund | 8,817,133 | 196,093,026 |
285,535,201 | ||
Small-Cap 10.4% | ||
Schwab Small-Cap Equity Fund | 3,989,116 | 59,916,522 |
345,451,723 | ||
Fixed-Income Fund 37.1% | ||
Intermediate-Term Bond 37.1% | ||
Schwab U.S. Aggregate Bond Index Fund | 19,956,910 | 214,337,213 |
Money Market Fund 1.8% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 10,212,714 | 10,216,799 |
Total Affiliated Underlying Funds | ||
(Cost $500,157,347) | 570,005,735 |
Security | Number of Shares | Value ($) |
Unaffiliated Underlying Fund 1.3% of net assets | ||
Money Market Fund 1.3% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (a) | 7,186,601 | 7,186,601 |
Total Unaffiliated Underlying Fund | ||
(Cost $7,186,601) | 7,186,601 |
(a) | The rate shown is the 7-day yield. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus U.S. Large Cap Growth Fund | $77,612,608 | $10,892,605 | ($14,980,000) | $1,080,265 | $14,836,697 | $89,442,175 | 3,300,449 | $6,512,605 |
Schwab Core Equity Fund | 185,648,795 | 32,049,605 | (24,037,000) | (2,934,224) | 5,365,850 | 196,093,026 | 8,817,133 | 5,485,605 |
Schwab Small-Cap Equity Fund | 53,323,240 | 15,449,781 | (4,810,000) | (1,528,961) | (2,517,538) | 59,916,522 | 3,989,116 | 59,781 |
Schwab U.S. Aggregate Bond Index Fund | 193,852,620 | 59,705,777 | (45,450,263) | 1,165,277 | 5,063,802 | 214,337,213 | 19,956,910 | 4,925,055 |
Schwab Variable Share Price Money Fund, Ultra Shares | 12,118,997 | 4,100,816 | (6,000,000) | (718) | (2,296) | 10,216,799 | 10,212,714 | 90,317 |
Total | $522,556,260 | $122,198,584 | ($95,277,263) | ($2,218,361) | $22,746,515 | $570,005,735 | $17,073,363 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $500,157,347) | $570,005,735 | |
Investments in unaffiliated underlying funds, at value (cost $7,186,601) | 7,186,601 | |
Receivables: | ||
Investments sold | 600,000 | |
Fund shares sold | 977,922 | |
Dividends | 409,643 | |
Due from investment adviser | 13,129 | |
Prepaid expenses | + | 28,114 |
Total assets | 579,221,144 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,409,517 | |
Fund shares redeemed | 320,545 | |
Accrued expenses | + | 63,984 |
Total liabilities | 1,794,046 | |
Net Assets | ||
Total assets | 579,221,144 | |
Total liabilities | – | 1,794,046 |
Net assets | $577,427,098 | |
Net Assets by Source | ||
Capital received from investors | 501,221,439 | |
Total distributable earnings | 76,205,659 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$577,427,098 | 34,990,159 | $16.50 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $6,832,776 | |
Dividends received from unaffiliated underlying funds | + | 26,536 |
Total investment income | 6,859,312 | |
Expenses | ||
Registration fees | 47,995 | |
Shareholder reports | 44,872 | |
Portfolio accounting fees | 26,141 | |
Professional fees | 23,278 | |
Transfer agent fees | 19,082 | |
Independent trustees’ fees | 10,165 | |
Custodian fees | 902 | |
Other expenses | + | 8,627 |
Total expenses | 181,062 | |
Expense reduction by CSIM and its affiliates | – | 181,062 |
Net expenses | – | — |
Net investment income | 6,859,312 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 10,240,587 | |
Net realized losses on sales of affiliated underlying funds | + | (2,218,361) |
Net realized gains | 8,022,226 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | 22,746,515 |
Net realized and unrealized gains | 30,768,741 | |
Increase in net assets resulting from operations | $37,628,053 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $6,859,312 | $7,461,092 | ||
Net realized gains | 8,022,226 | 21,204,175 | ||
Net change in unrealized appreciation (depreciation) | + | 22,746,515 | 20,529,722 | |
Increase in net assets from operations | 37,628,053 | 49,194,989 | ||
Distributions to Shareholders | ||||
Total distributions | ($27,287,501) | ($28,049,773) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 11,812,461 | $187,887,955 | 11,096,629 | $169,470,196 | ||||
Shares reinvested | 1,536,645 | 24,202,165 | 1,812,747 | 24,889,012 | ||||
Shares redeemed | + | (11,266,936) | (171,177,405) | (8,978,575) | (135,957,018) | |||
Net transactions in fund shares | 2,082,170 | $40,912,715 | 3,930,801 | $58,402,190 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 32,907,989 | $526,173,831 | 28,977,188 | $446,626,425 | ||||
Total increase | + | 2,082,170 | 51,253,267 | 3,930,801 | 79,547,406 | |||
End of period | 34,990,159 | $577,427,098 | 32,907,989 | $526,173,831 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Balanced Fund | Schwab Target 2040 Fund |
Schwab S&P 500 Index Fund | Schwab Target 2045 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2050 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2055 Fund |
Schwab U.S. Large-Cap Growth Index Fund | Schwab Target 2060 Fund |
Schwab U.S. Large-Cap Value Index Fund | Schwab Fundamental US Large Company Index Fund |
Schwab U.S. Mid-Cap Index Fund | Schwab Fundamental US Small Company Index Fund |
Schwab International Index Fund® | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2010 Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2015 Index Fund |
Schwab Core Equity Fund | Schwab Target 2020 Index Fund |
Schwab Dividend Equity Fund | Schwab Target 2025 Index Fund |
Schwab Large-Cap Growth Fund | Schwab Target 2030 Index Fund |
Schwab Small-Cap Equity Fund | Schwab Target 2035 Index Fund |
Schwab Hedged Equity Fund | Schwab Target 2040 Index Fund |
Schwab Health Care Fund | Schwab Target 2045 Index Fund |
Schwab International Core Equity Fund | Schwab Target 2050 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2020 Fund | Schwab Monthly Income Fund - Moderate Payout |
Schwab Target 2025 Fund | Schwab Monthly Income Fund - Enhanced Payout |
Schwab Target 2030 Fund | Schwab Monthly Income Fund - Maximum Payout |
Schwab Target 2035 Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Laudus U.S. Large Cap Growth Fund | 3.3% |
Schwab Core Equity Fund | 10.0% |
Schwab Small-Cap Equity Fund | 12.2% |
Schwab U.S. Aggregate Bond Index Fund | 4.5% |
Schwab Variable Share Price Money Fund, Ultra Shares | 0.3% |
5. Board of Trustees:
6. Borrowing from Banks:
7. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities |
$122,198,584 | $95,277,263 |
8. Federal Income Taxes:
Tax cost | $516,983,016 |
Gross unrealized appreciation | $70,991,449 |
Gross unrealized depreciation | (10,782,129) |
Net unrealized appreciation (depreciation) | $60,209,320 |
Undistributed ordinary income | $4,674,444 |
Undistributed long-term capital gains | 11,321,895 |
Net unrealized appreciation (depreciation) on investments | 60,209,320 |
Total | $76,205,659 |
Current fiscal year end distributions | |
Ordinary income | $7,431,786 |
Long-term capital gains | 19,855,715 |
Prior fiscal year end distributions | |
Ordinary income | $10,526,518 |
Long-term capital gains | 17,523,255 |
9. Independent Registered Public Accounting Firm:
10. Subsequent Events:
Denver, Colorado
December 16, 2020
1. | the nature, extent and quality of the services provided to the Fund under the Agreement, including the resources of CSIM and its affiliates dedicated to the Fund; |
2. | the Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | the Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
1 | The meeting on June 9, 2020 was held telephonically in reliance on exemptive relief from the in-person voting requirement under the 1940 Act as provided by the Securities and Exchange Commission. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 100 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 100 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 100 | None |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting). | 100 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 100 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 100 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 100 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 100 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors). | 100 | Director (2012 – present), Eaton Corporation plc |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 100 | Director (2008 �� present), The Charles Schwab Corporation |
Interested Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jonathan de St. Paer2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. | 100 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 100 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Mr. de St. Paer and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
Index Fund
Index Fund
New Notice Regarding Shareholder Report Delivery Options |
Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/schwabfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically. |
If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request: |
• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing; |
• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or |
• If owned directly through a fund by calling 1-800-407-0256. |
If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action. |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab S&P 500 Index Fund (Ticker Symbol: SWPPX) | 9.69% |
S&P 500® Index | 9.71% |
Fund Category: Morningstar Large Blend1 | 6.30% |
Performance Details | pages 7-9 |
Schwab 1000 Index Fund (Ticker Symbol: SNXFX) | 10.60% |
Schwab 1000 Index® | 10.65% |
Russell 1000® Index | 10.87% |
Fund Category: Morningstar Large Blend1 | 6.30% |
Performance Details | pages 10-12 |
Schwab Small-Cap Index Fund (Ticker Symbol: SWSSX) | 0.00% |
Russell 2000® Index | -0.14% |
Fund Category: Morningstar Small Blend1 | -6.45% |
Performance Details | pages 13-15 |
Schwab Total Stock Market Index Fund (Ticker Symbol: SWTSX) | 9.94% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% |
Fund Category: Morningstar Large Blend1 | 6.30% |
Performance Details | pages 16-18 |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab U.S. Large-Cap Growth Index Fund (Ticker Symbol: SWLGX) | 29.16% |
Russell 1000® Growth Index | 29.22% |
Fund Category: Morningstar Large Growth1 | 25.92% |
Performance Details | pages 19-21 |
Schwab U.S. Large-Cap Value Index Fund (Ticker Symbol: SWLVX) | -7.69% |
Russell 1000® Value Index | -7.57% |
Fund Category: Morningstar Large Value1 | -7.37% |
Performance Details | pages 22-24 |
Schwab U.S. Mid-Cap Index Fund (Ticker Symbol: SWMCX) | 4.04% |
Russell Midcap® Index | 4.12% |
Fund Category: Morningstar Mid-Cap Blend1 | -0.89% |
Performance Details | pages 25-27 |
Schwab International Index Fund2 (Ticker Symbol: SWISX) | -6.56% |
MSCI EAFE® Index (Net)3 | -6.86% |
Fund Category: Morningstar Foreign Large Blend1 | -4.19% |
Performance Details | pages 28-30 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
2 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
President of Charles Schwab
Investment Management, Inc.
and the funds covered
in this report.
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Christopher Bliss, CFA, Vice President and Head of Passive Equity Strategies, leads the portfolio management team for Schwab’s passive equity mutual funds and ETFs. He also has overall responsibility for all aspects of the management of the funds. Before joining CSIM in 2016, Mr. Bliss spent 12 years at BlackRock (formerly Barclays Global Investors) managing and leading institutional index teams, most recently as a managing director and the head of the Americas institutional index team. Prior to BlackRock, he worked as an equity analyst and portfolio manager for Harris Bretall and before that, as a research analyst for JP Morgan. |
Jeremy Brown, Portfolio Manager, is responsible for the day-to-day co-management of the the funds, except for the Schwab International Index Fund. Prior to joining CSIM in 2017, Mr. Brown spent six years with ALPS Advisors, Inc. in Denver, most recently as a senior analyst on the ETF portfolio management and research team where he performed portfolio management, trading, and analytics/research functions for ALPS ETFs and passive funds. Additionally, Mr. Brown led a number of investment research, commentary, industry trend analysis, and sales and marketing support initiatives. |
Chuck Craig, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab International Index Fund. Prior to joining CSIM in 2012, Mr. Craig worked at Guggenheim Funds (formerly Claymore Group), where he spent more than five years as a managing director of portfolio management and supervision, and three years as vice president of product research and development. Prior to that, he worked as an equity research analyst at First Trust Portfolios (formerly Niké Securities), and a trader and analyst at PMA Securities, Inc. |
Ferian Juwono, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the the funds, except for the Schwab International Index Fund. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors) where he spent more than three years as a portfolio manager, managing equity index funds for institutional clients, and two years as a senior business analyst. Prior to that, Mr. Juwono worked for more than four years as a senior financial analyst with Union Bank of California. |
Jane Qin, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab International Index Fund. Prior to joining CSIM in 2012, Ms. Qin spent more than four years at The Bank of New York Mellon Corporation. During that time, Ms. Qin spent more than two years as an associate equity portfolio manager and nearly two years as a performance analyst. She also worked at Wells Fargo Funds Management as a mutual fund analyst and at CIGNA Reinsurance in the risk management group as a risk analyst. |
David Rios, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab International Index Fund. Prior to this role, Mr. Rios was an associate portfolio manager on the Schwab equity index strategies team for four years. His first role with CSIM was as a trade operations specialist. Prior to joining CSIM in 2008, Mr. Rios was a senior fund accountant at Investors Bank & Trust (subsequently acquired by State Street Corporation). |
Sabya Sinha, Portfolio Manager, is responsible for the day-to-day co-management of the the funds, except for the Schwab International Index Fund. Prior to joining CSIM in 2015, Mr. Sinha spent a year at F-Squared Investments on the product development and analytics team. Prior to F-Squared, he worked at IndexIQ Advisors as a senior index portfolio manager for three years and for Bank of America’s Columbia Management subsidiary as a portfolio manager for three years. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab S&P 500 Index Fund (5/19/97) | 9.69% | 11.65% | 12.93% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Fund Category: Morningstar Large Blend2 | 6.30% | 9.64% | 11.28% |
Fund Expense Ratio3: 0.02% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. |
Number of Holdings | 508 |
Weighted Average Market Cap (millions) | $433,361 |
Price/Earnings Ratio (P/E) | 25.1 |
Price/Book Ratio (P/B) | 3.4 |
Portfolio Turnover Rate | 4% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab 1000 Index Fund (4/2/91) | 10.60% | 11.60% | 12.74% |
Schwab 1000 Index® | 10.65% | 11.70% | 12.94% |
Russell 1000® Index | 10.87% | 11.79% | 13.05% |
Fund Category: Morningstar Large Blend2 | 6.30% | 9.64% | 11.28% |
Fund Expense Ratio3: 0.05% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. |
Number of Holdings | 992 2 |
Weighted Average Market Cap (millions) | $387,635 |
Price/Earnings Ratio (P/E) | 25.5 |
Price/Book Ratio (P/B) | 3.4 |
Portfolio Turnover Rate | 4% |
1 | Excludes derivatives. |
2 | As a result of the Schwab 1000 Index®’s once per year reconstitution and the effects of certain corporate actions, the fund may hold more or less than 1,000 securities. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
4 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Small-Cap Index Fund (5/19/97) | 0.00% | 7.33% | 9.83% |
Russell 2000® Index | -0.14% | 7.27% | 9.64% |
Small-Cap Spliced Index | -0.14% | 7.27% | 9.79% |
Fund Category: Morningstar Small Blend2 | -6.45% | 5.00% | 8.48% |
Fund Expense Ratio3: 0.04% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. |
Number of Holdings | 2,021 |
Weighted Average Market Cap (millions) | $2,518 |
Price/Earnings Ratio (P/E) | 17.4 |
Price/Book Ratio (P/B) | 1.8 |
Portfolio Turnover Rate | 21% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Total Stock Market Index Fund (6/1/99) | 9.94% | 11.37% | 12.72% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.75% |
Fund Category: Morningstar Large Blend2 | 6.30% | 9.64% | 11.28% |
Fund Expense Ratio3: 0.03% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. |
Number of Holdings | 3,184 |
Weighted Average Market Cap (millions) | $363,282 |
Price/Earnings Ratio (P/E) | 25.1 |
Price/Book Ratio (P/B) | 3.2 |
Portfolio Turnover Rate | 4% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | Since Inception |
Fund: Schwab U.S. Large-Cap Growth Index Fund (12/20/17) | 29.16% | 17.85% |
Russell 1000® Growth Index | 29.22% | 17.91% |
Fund Category: Morningstar Large Growth2 | 25.92% | N/A |
Fund Expense Ratio3: 0.035% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. |
Number of Holdings | 450 |
Weighted Average Market Cap (millions) | $636,052 |
Price/Earnings Ratio (P/E) | 35.0 |
Price/Book Ratio (P/B) | 10.4 |
Portfolio Turnover Rate | 41% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | Since Inception |
Fund: Schwab U.S. Large-Cap Value Index Fund (12/20/17) | -7.69% | 0.44% |
Russell 1000® Value Index | -7.57% | 0.55% |
Fund Category: Morningstar Large Value2 | -7.37% | N/A |
Fund Expense Ratio3: 0.035% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. |
Number of Holdings | 850 |
Weighted Average Market Cap (millions) | $119,166 |
Price/Earnings Ratio (P/E) | 19.3 |
Price/Book Ratio (P/B) | 1.9 |
Portfolio Turnover Rate | 50% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | Since Inception |
Fund: Schwab U.S. Mid-Cap Index Fund (12/20/17) | 4.04% | 5.59% |
Russell Midcap® Index | 4.12% | 5.67% |
Fund Category: Morningstar Mid-Cap Blend2 | -0.89% | N/A |
Fund Expense Ratio3: 0.04% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. |
Number of Holdings | 820 |
Weighted Average Market Cap (millions) | $17,353 |
Price/Earnings Ratio (P/E) | 22.8 |
Price/Book Ratio (P/B) | 2.6 |
Portfolio Turnover Rate | 29% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
1 | Typically, the securities in the index are valued using foreign exchange rates obtained at the close of the London foreign currency exchange (11:00 AM EST). Securities in the fund, however, are valued using foreign exchange rates obtained at the close of the New York foreign currency exchange (4:00 PM EST). This difference in closing times can result in different foreign currency exchange rates between the two exchanges, and thus different foreign currency exchange rates used in the valuation of the index’s and fund’s securities. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab International Index Fund (5/19/97) | -6.56% | 3.08% | 3.88% |
MSCI EAFE® Index (Net)3 | -6.86% | 2.85% | 3.82% |
International Spliced Index | -6.86% | 2.85% | 3.90% |
Fund Category: Morningstar Foreign Large Blend4 | -4.19% | 3.23% | 3.65% |
Fund Expense Ratio5: 0.06% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The fund’s performance relative to the index may be affected by fair-value pricing. See financial note 2 for more information. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | As stated in the prospectus. |
Number of Holdings | 913 |
Weighted Average Market Cap (millions) | $61,247 |
Price/Earnings Ratio (P/E) | 18.2 |
Price/Book Ratio (P/B) | 1.5 |
Portfolio Turnover Rate | 7% |
1 | Excludes derivatives. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/20 | Ending Account Value (Net of Expenses) at 10/31/20 | Expenses Paid During Period 5/1/20-10/31/202 | |
Schwab S&P 500 Index Fund | ||||
Actual Return | 0.02% | $1,000.00 | $1,132.80 | $0.11 |
Hypothetical 5% Return | 0.02% | $1,000.00 | $1,025.00 | $0.10 |
Schwab 1000 Index Fund | ||||
Actual Return | 0.05% | $1,000.00 | $1,148.30 | $0.27 |
Hypothetical 5% Return | 0.05% | $1,000.00 | $1,024.85 | $0.25 |
Schwab Small-Cap Index Fund | ||||
Actual Return | 0.04% | $1,000.00 | $1,181.70 | $0.22 |
Hypothetical 5% Return | 0.04% | $1,000.00 | $1,024.90 | $0.20 |
Schwab Total Stock Market Index Fund | ||||
Actual Return | 0.03% | $1,000.00 | $1,150.60 | $0.16 |
Hypothetical 5% Return | 0.03% | $1,000.00 | $1,024.95 | $0.15 |
Schwab U.S. Large-Cap Growth Index Fund | ||||
Actual Return | 0.035% | $1,000.00 | $1,217.70 | $0.20 |
Hypothetical 5% Return | 0.035% | $1,000.00 | $1,024.92 | $0.18 |
Schwab U.S. Large-Cap Value Index Fund | ||||
Actual Return | 0.035% | $1,000.00 | $1,069.00 | $0.18 |
Hypothetical 5% Return | 0.035% | $1,000.00 | $1,024.92 | $0.18 |
Schwab U.S. Mid-Cap Index Fund | ||||
Actual Return | 0.04% | $1,000.00 | $1,177.80 | $0.22 |
Hypothetical 5% Return | 0.04% | $1,000.00 | $1,024.90 | $0.20 |
Schwab International Index Fund | ||||
Actual Return | 0.06% | $1,000.00 | $1,094.30 | $0.32 |
Hypothetical 5% Return | 0.06% | $1,000.00 | $1,024.80 | $0.31 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by 366 days of the fiscal year. |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $47.17 | $42.41 | $40.23 | $33.38 | $33.00 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 1.02 | 0.92 | 0.80 | 0.74 | 0.69 | |
Net realized and unrealized gains (losses) | 3.52 | 4.86 | 2.12 | 6.99 | 0.69 | |
Total from investment operations | 4.54 | 5.78 | 2.92 | 7.73 | 1.38 | |
Less distributions: | ||||||
Distributions from net investment income | (0.87) | (0.84) | (0.72) | (0.69) | (0.68) | |
Distributions from net realized gains | (0.09) | (0.18) | (0.02) | (0.19) | (0.32) | |
Total distributions | (0.96) | (1.02) | (0.74) | (0.88) | (1.00) | |
Net asset value at end of period | $50.75 | $47.17 | $42.41 | $40.23 | $33.38 | |
Total return | 9.69% | 14.30% | 7.29% | 23.57% | 4.40% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.02% | 0.02% 2 | 0.03% | 0.05% 3 | 0.09% | |
Net operating expenses | N/A | N/A | N/A 4 | 0.05% 3 | 0.09% | |
Net investment income (loss) | 2.11% | 2.11% | 1.88% | 2.01% | 2.12% | |
Portfolio turnover rate | 4% | 3% | 2% | 2% | 2% | |
Net assets, end of period (x 1,000,000) | $44,184 | $40,232 | $34,410 | $29,999 | $22,675 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.5% of net assets | ||||
Automobiles & Components 0.4% | ||||
Other Securities | 0.4 | 175,683,366 | ||
Banks 3.5% | ||||
Bank of America Corp. | 12,355,276 | 0.7 | 292,820,041 | |
JPMorgan Chase & Co. | 4,939,328 | 1.1 | 484,251,717 | |
Other Securities | 1.7 | 750,251,667 | ||
3.5 | 1,527,323,425 | |||
Capital Goods 5.6% | ||||
Other Securities | 5.6 | 2,470,893,683 | ||
Commercial & Professional Services 0.7% | ||||
Other Securities | 0.7 | 333,023,013 | ||
Consumer Durables & Apparel 1.2% | ||||
NIKE, Inc., Class B | 2,017,430 | 0.5 | 242,252,994 | |
Other Securities | 0.7 | 271,745,541 | ||
1.2 | 513,998,535 | |||
Consumer Services 1.6% | ||||
McDonald's Corp. | 1,206,199 | 0.6 | 256,920,387 | |
Other Securities | 1.0 | 473,794,545 | ||
1.6 | 730,714,932 | |||
Diversified Financials 4.5% | ||||
Berkshire Hathaway, Inc., Class B * | 3,212,682 | 1.5 | 648,640,496 | |
The Charles Schwab Corp. (a) | 2,391,011 | 0.2 | 98,294,462 | |
Other Securities | 2.8 | 1,259,957,204 | ||
4.5 | 2,006,892,162 | |||
Energy 2.0% | ||||
Chevron Corp. | 3,120,307 | 0.5 | 216,861,337 | |
Exxon Mobil Corp. | 6,855,647 | 0.5 | 223,631,205 | |
Other Securities | 1.0 | 444,871,880 | ||
2.0 | 885,364,422 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Food & Staples Retailing 1.6% | ||||
Costco Wholesale Corp. | 715,756 | 0.6 | 255,968,661 | |
Walmart, Inc. | 2,250,718 | 0.7 | 312,287,122 | |
Other Securities | 0.3 | 125,824,624 | ||
1.6 | 694,080,407 | |||
�� | ||||
Food, Beverage & Tobacco 3.4% | ||||
PepsiCo, Inc. | 2,244,122 | 0.7 | 299,119,021 | |
The Coca-Cola Co. | 6,266,381 | 0.7 | 301,162,271 | |
Other Securities | 2.0 | 888,880,563 | ||
3.4 | 1,489,161,855 | |||
Health Care Equipment & Services 6.7% | ||||
Abbott Laboratories | 2,870,109 | 0.7 | 301,677,157 | |
Danaher Corp. | 1,023,164 | 0.5 | 234,857,065 | |
Medtronic plc | 2,178,195 | 0.5 | 219,061,071 | |
UnitedHealth Group, Inc. | 1,540,479 | 1.1 | 470,061,762 | |
Other Securities | 3.9 | 1,739,239,227 | ||
6.7 | 2,964,896,282 | |||
Household & Personal Products 2.0% | ||||
The Procter & Gamble Co. | 4,035,300 | 1.3 | 553,239,630 | |
Other Securities | 0.7 | 340,890,895 | ||
2.0 | 894,130,525 | |||
Insurance 1.8% | ||||
Other Securities | 1.8 | 806,539,501 | ||
Materials 2.7% | ||||
Other Securities | 2.7 | 1,174,667,607 | ||
Media & Entertainment 9.3% | ||||
Alphabet, Inc., Class A * | 487,031 | 1.8 | 787,095,669 | |
Alphabet, Inc., Class C * | 475,882 | 1.7 | 771,409,481 | |
Comcast Corp., Class A | 7,389,397 | 0.7 | 312,128,129 | |
Facebook, Inc., Class A * | 3,897,113 | 2.3 | 1,025,369,402 | |
Netflix, Inc. * | 715,005 | 0.8 | 340,156,479 | |
The Walt Disney Co. | 2,929,198 | 0.8 | 355,165,258 | |
Other Securities | 1.2 | 501,059,752 | ||
9.3 | 4,092,384,170 | |||
Pharmaceuticals, Biotechnology & Life Sciences 7.3% | ||||
AbbVie, Inc. | 2,860,791 | 0.6 | 243,453,314 | |
Amgen, Inc. | 949,368 | 0.5 | 205,955,894 | |
Bristol-Myers Squibb Co. | 3,653,695 | 0.5 | 213,558,473 | |
Johnson & Johnson | 4,267,622 | 1.3 | 585,133,652 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Merck & Co., Inc. | 4,099,769 | 0.7 | 308,343,626 | |
Pfizer, Inc. | 9,007,472 | 0.7 | 319,585,107 | |
Thermo Fisher Scientific, Inc. | 641,234 | 0.7 | 303,380,630 | |
Other Securities | 2.3 | 1,038,096,239 | ||
7.3 | 3,217,506,935 | |||
Real Estate 2.6% | ||||
Other Securities | 2.6 | 1,152,102,958 | ||
Retailing 8.3% | ||||
Amazon.com, Inc. * | 690,098 | 4.7 | 2,095,241,043 | |
Lowe's Cos., Inc. | 1,225,286 | 0.4 | 193,717,717 | |
The Home Depot, Inc. | 1,744,990 | 1.1 | 465,406,283 | |
Other Securities | 2.1 | 913,393,833 | ||
8.3 | 3,667,758,876 | |||
Semiconductors & Semiconductor Equipment 5.0% | ||||
Broadcom, Inc. | 651,831 | 0.5 | 227,899,673 | |
Intel Corp. | 6,892,979 | 0.7 | 305,221,110 | |
NVIDIA Corp. | 1,000,023 | 1.1 | 501,371,531 | |
QUALCOMM, Inc. | 1,828,475 | 0.5 | 225,560,676 | |
Texas Instruments, Inc. | 1,484,562 | 0.5 | 214,652,820 | |
Other Securities | 1.7 | 728,823,912 | ||
5.0 | 2,203,529,722 | |||
Software & Services 14.3% | ||||
Accenture plc, Class A | 1,031,319 | 0.5 | 223,703,404 | |
Adobe, Inc. * | 777,511 | 0.8 | 347,625,168 | |
Mastercard, Inc., Class A | 1,431,974 | 0.9 | 413,324,975 | |
Microsoft Corp. | 12,266,451 | 5.6 | 2,483,588,334 | |
PayPal Holdings, Inc. * | 1,901,872 | 0.8 | 353,995,435 | |
salesforce.com, Inc. * | 1,474,980 | 0.8 | 342,593,605 | |
Visa, Inc., Class A | 2,733,066 | 1.1 | 496,625,423 | |
Other Securities | 3.8 | 1,662,993,845 | ||
14.3 | 6,324,450,189 | |||
Technology Hardware & Equipment 8.0% | ||||
Apple Inc. | 26,057,919 | 6.4 | 2,836,665,062 | |
Cisco Systems, Inc. | 6,861,350 | 0.6 | 246,322,465 | |
Other Securities | 1.0 | 455,414,257 | ||
8.0 | 3,538,401,784 | |||
Telecommunication Services 1.8% | ||||
AT&T, Inc. | 11,550,195 | 0.7 | 312,086,269 | |
Verizon Communications, Inc. | 6,707,808 | 0.9 | 382,277,978 | |
Other Securities | 0.2 | 117,070,779 | ||
1.8 | 811,435,026 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Transportation 2.0% | ||||
Union Pacific Corp. | 1,100,432 | 0.4 | 194,985,546 | |
Other Securities | 1.6 | 684,399,540 | ||
2.0 | 879,385,086 | |||
Utilities 3.2% | ||||
NextEra Energy, Inc. | 3,174,624 | 0.5 | 232,414,223 | |
Other Securities | 2.7 | 1,175,942,214 | ||
3.2 | 1,408,356,437 | |||
Total Common Stock | ||||
(Cost $20,594,421,840) | 43,962,680,898 | |||
Other Investment Company 0.1% of net assets | ||||
Securities Lending Collateral 0.1% | ||||
Other Securities | 0.1 | 26,288,917 | ||
Total Other Investment Company | ||||
(Cost $26,288,917) | 26,288,917 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.2% of net assets | ||||
Time Deposits 0.2% | ||||
Other Securities | 0.2 | 98,222,299 | ||
Total Short-Term Investments | ||||
(Cost $98,222,299) | 98,222,299 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
S&P 500 Index, e-mini, expires 12/18/20 | 1,185 | 193,433,475 | (3,964,109) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $25,808,897. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Dividends Received | |
The Charles Schwab Corp. | $74,967,791 | $23,287,026 | ($2,600,906) | ($1,027,037) | $3,667,588 | $98,294,462 | 2,391,011 | $1,316,874 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $43,962,680,898 | $— | $— | $43,962,680,898 | |
Other Investment Company1 | 26,288,917 | — | — | 26,288,917 | |
Short-Term Investments1 | — | 98,222,299 | — | 98,222,299 | |
Liabilities | |||||
Futures Contracts2 | (3,964,109) | — | — | (3,964,109) | |
Total | $43,985,005,706 | $98,222,299 | $— | $44,083,228,005 |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $58,970,924) | $98,294,462 | |
Investments in unaffiliated issuers, at value (cost $20,633,673,215) including securities on loan of $25,808,897 | 43,962,608,735 | |
Collateral invested for securities on loan, at value (cost $26,288,917) | 26,288,917 | |
Deposit with broker for futures contracts | 17,340,000 | |
Receivables: | ||
Fund shares sold | 101,513,339 | |
Dividends | 43,845,463 | |
Income from securities on loan | 17,131 | |
Interest | + | 55 |
Total assets | 44,249,908,102 | |
Liabilities | ||
Collateral held for securities on loan | 26,288,917 | |
Payables: | ||
Investment adviser fees | 807,365 | |
Fund shares redeemed | 36,480,703 | |
Variation margin on futures contracts | + | 2,072,624 |
Total liabilities | 65,649,609 | |
Net Assets | ||
Total assets | 44,249,908,102 | |
Total liabilities | – | 65,649,609 |
Net assets | $44,184,258,493 | |
Net Assets by Source | ||
Capital received from investors | 20,534,552,723 | |
Total distributable earnings | 23,649,705,770 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$44,184,258,493 | 870,563,401 | $50.75 | ||
Investment Income | ||
Dividends received from affiliated issuer | $1,316,874 | |
Dividends received from unaffiliated issuers | 899,795,340 | |
Interest | 366,683 | |
Securities on loan, net | + | 370,393 |
Total investment income | 901,849,290 | |
Expenses | ||
Investment adviser fees | 8,499,556 | |
Total expenses | – | 8,499,556 |
Net investment income | 893,349,734 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on affiliated issuer | (1,027,037) | |
Net realized losses on unaffiliated issuers | (302,975,744) | |
Net realized gains on futures contracts | + | 12,210,279 |
Net realized losses | (291,792,502) | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 3,667,588 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 3,168,428,504 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (6,049,994) |
Net change in unrealized appreciation (depreciation) | + | 3,166,046,098 |
Net realized and unrealized gains | 2,874,253,596 | |
Increase in net assets resulting from operations | $3,767,603,330 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $893,349,734 | $777,902,944 | ||
Net realized gains (losses) | (291,792,502) | 16,453,205 | ||
Net change in unrealized appreciation (depreciation) | + | 3,166,046,098 | 4,213,657,469 | |
Increase in net assets from operations | 3,767,603,330 | 5,008,013,618 | ||
Distributions to Shareholders | ||||
Total distributions | ($829,255,576) | ($835,129,475) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 236,073,289 | $11,084,108,165 | 185,382,757 | $8,015,175,116 | ||||
Shares reinvested | 13,928,557 | 685,702,860 | 18,929,002 | 700,551,667 | ||||
Shares redeemed | + | (232,288,137) | (10,755,681,037) | (162,770,508) | (7,066,557,661) | |||
Net transactions in fund shares | 17,713,709 | $1,014,129,988 | 41,541,251 | $1,649,169,122 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 852,849,692 | $40,231,780,751 | 811,308,441 | $34,409,727,486 | ||||
Total increase | + | 17,713,709 | 3,952,477,742 | 41,541,251 | 5,822,053,265 | |||
End of period | 870,563,401 | $44,184,258,493 | 852,849,692 | $40,231,780,751 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $68.68 | $64.19 | $62.61 | $52.40 | $53.67 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 1.38 | 1.38 | 1.18 | 1.08 | 0.95 | |
Net realized and unrealized gains (losses) | 5.81 | 6.73 | 3.05 | 10.96 | 0.92 | |
Total from investment operations | 7.19 | 8.11 | 4.23 | 12.04 | 1.87 | |
Less distributions: | ||||||
Distributions from net investment income | (1.29) | (1.28) | (1.10) | (0.97) | (0.96) | |
Distributions from net realized gains | (0.85) | (2.34) | (1.55) | (0.86) | (2.18) | |
Total distributions | (2.14) | (3.62) | (2.65) | (1.83) | (3.14) | |
Net asset value at end of period | $73.73 | $68.68 | $64.19 | $62.61 | $52.40 | |
Total return | 10.60% | 14.20% | 6.84% | 23.52% | 3.87% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.05% | 0.05% | 0.05% | 0.14% 2 | 0.33% | |
Net operating expenses | N/A | N/A | N/A 3 | 0.12% 2 | 0.29% | |
Net investment income (loss) | 1.97% | 2.15% | 1.82% | 1.87% | 1.86% | |
Portfolio turnover rate | 4% | 5% | 4% | 5% | 3% | |
Net assets, end of period (x 1,000,000) | $9,774 | $9,346 | $7,909 | $7,681 | $6,432 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.6% of net assets | ||||
Automobiles & Components 1.4% | ||||
Tesla, Inc. * | 235,981 | 0.9 | 91,570,067 | |
Other Securities | 0.5 | 43,396,618 | ||
1.4 | 134,966,685 | |||
Banks 3.4% | ||||
Bank of America Corp. | 2,413,704 | 0.6 | 57,204,785 | |
JPMorgan Chase & Co. | 964,793 | 1.0 | 94,588,306 | |
Other Securities | 1.8 | 183,253,640 | ||
3.4 | 335,046,731 | |||
Capital Goods 5.7% | ||||
Other Securities | 5.7 | 556,099,919 | ||
Commercial & Professional Services 1.0% | ||||
Other Securities | 1.0 | 93,765,359 | ||
Consumer Durables & Apparel 1.3% | ||||
NIKE, Inc., Class B | 394,251 | 0.5 | 47,341,660 | |
Other Securities | 0.8 | 80,629,360 | ||
1.3 | 127,971,020 | |||
Consumer Services 1.8% | ||||
McDonald's Corp. | 235,548 | 0.5 | 50,171,724 | |
Other Securities | 1.3 | 127,869,672 | ||
1.8 | 178,041,396 | |||
Diversified Financials 4.5% | ||||
Berkshire Hathaway, Inc., Class B * | 627,590 | 1.3 | 126,710,421 | |
The Charles Schwab Corp. (a) | 466,411 | 0.2 | 19,174,156 | |
Other Securities | 3.0 | 296,197,457 | ||
4.5 | 442,082,034 | |||
Energy 1.9% | ||||
Chevron Corp. | 609,427 | 0.4 | 42,355,177 | |
Exxon Mobil Corp. | 1,338,557 | 0.4 | 43,663,729 | |
Other Securities | 1.1 | 95,551,105 | ||
1.9 | 181,570,011 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Food & Staples Retailing 1.4% | ||||
Costco Wholesale Corp. | 139,862 | 0.5 | 50,017,448 | |
Walmart, Inc. | 439,708 | 0.6 | 61,009,485 | |
Other Securities | 0.3 | 29,388,918 | ||
1.4 | 140,415,851 | |||
Food, Beverage & Tobacco 3.2% | ||||
PepsiCo, Inc. | 438,492 | 0.6 | 58,446,599 | |
The Coca-Cola Co. | 1,223,525 | 0.6 | 58,802,611 | |
Other Securities | 2.0 | 191,611,686 | ||
3.2 | 308,860,896 | |||
Health Care Equipment & Services 6.5% | ||||
Abbott Laboratories | 560,663 | 0.6 | 58,931,288 | |
Danaher Corp. | 199,990 | 0.5 | 45,905,705 | |
Medtronic plc | 425,702 | 0.4 | 42,812,850 | |
UnitedHealth Group, Inc. | 300,904 | 0.9 | 91,817,847 | |
Other Securities | 4.1 | 398,033,888 | ||
6.5 | 637,501,578 | |||
Household & Personal Products 1.8% | ||||
The Procter & Gamble Co. | 788,329 | 1.1 | 108,079,906 | |
Other Securities | 0.7 | 68,259,220 | ||
1.8 | 176,339,126 | |||
Insurance 2.0% | ||||
Other Securities | 2.0 | 195,386,105 | ||
Materials 2.7% | ||||
Other Securities | 2.7 | 262,770,002 | ||
Media & Entertainment 8.9% | ||||
Alphabet, Inc., Class A * | 95,124 | 1.6 | 153,730,848 | |
Alphabet, Inc., Class C * | 92,947 | 1.5 | 150,668,017 | |
Comcast Corp., Class A | 1,443,215 | 0.6 | 60,961,402 | |
Facebook, Inc., Class A * | 761,135 | 2.0 | 200,262,230 | |
Netflix, Inc. * | 139,603 | 0.7 | 66,414,731 | |
The Walt Disney Co. | 571,960 | 0.7 | 69,350,150 | |
Other Securities | 1.8 | 169,373,783 | ||
8.9 | 870,761,161 | |||
Pharmaceuticals, Biotechnology & Life Sciences 7.3% | ||||
AbbVie, Inc. | 558,288 | 0.5 | 47,510,309 | |
Amgen, Inc. | 185,316 | 0.4 | 40,202,453 | |
Bristol-Myers Squibb Co. | 713,400 | 0.4 | 41,698,230 | |
Johnson & Johnson | 833,519 | 1.2 | 114,283,790 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Merck & Co., Inc. | 800,788 | 0.6 | 60,227,266 | |
Pfizer, Inc. | 1,759,131 | 0.6 | 62,413,968 | |
Thermo Fisher Scientific, Inc. | 125,264 | 0.6 | 59,264,904 | |
Other Securities | 3.0 | 286,973,893 | ||
7.3 | 712,574,813 | |||
Real Estate 3.1% | ||||
Other Securities | 3.1 | 304,903,139 | ||
Retailing 7.6% | ||||
Amazon.com, Inc. * | 134,781 | 4.2 | 409,215,333 | |
The Home Depot, Inc. | 340,886 | 0.9 | 90,917,705 | |
Other Securities | 2.5 | 245,716,970 | ||
7.6 | 745,850,008 | |||
Semiconductors & Semiconductor Equipment 4.8% | ||||
Broadcom, Inc. | 127,339 | 0.5 | 44,521,535 | |
Intel Corp. | 1,346,773 | 0.6 | 59,635,108 | |
NVIDIA Corp. | 195,304 | 1.0 | 97,917,613 | |
QUALCOMM, Inc. | 357,239 | 0.5 | 44,069,003 | |
Texas Instruments, Inc. | 290,272 | 0.4 | 41,970,429 | |
Other Securities | 1.8 | 184,309,733 | ||
4.8 | 472,423,421 | |||
Software & Services 15.1% | ||||
Accenture plc, Class A | 201,511 | 0.4 | 43,709,751 | |
Adobe, Inc. * | 151,856 | 0.7 | 67,894,818 | |
Mastercard, Inc., Class A | 279,643 | 0.8 | 80,716,155 | |
Microsoft Corp. | 2,395,688 | 5.0 | 485,054,949 | |
PayPal Holdings, Inc. * | 371,402 | 0.7 | 69,129,054 | |
salesforce.com, Inc. * | 288,062 | 0.7 | 66,908,161 | |
Visa, Inc., Class A | 533,770 | 1.0 | 96,991,347 | |
Other Securities | 5.8 | 565,804,890 | ||
15.1 | 1,476,209,125 | |||
Technology Hardware & Equipment 7.4% | ||||
Apple Inc. | 5,089,294 | 5.7 | 554,020,545 | |
Cisco Systems, Inc. | 1,340,750 | 0.5 | 48,132,925 | |
Other Securities | 1.2 | 119,002,944 | ||
7.4 | 721,156,414 | |||
Telecommunication Services 1.7% | ||||
AT&T, Inc. | 2,256,030 | 0.6 | 60,957,931 | |
Verizon Communications, Inc. | 1,310,336 | 0.8 | 74,676,049 | |
Other Securities | 0.3 | 28,512,296 | ||
1.7 | 164,146,276 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Transportation 2.0% | ||||
Union Pacific Corp. | 214,949 | 0.4 | 38,086,813 | |
Other Securities | 1.6 | 159,114,138 | ||
2.0 | 197,200,951 | |||
Utilities 3.1% | ||||
NextEra Energy, Inc. | 621,177 | 0.5 | 45,476,368 | |
Other Securities | 2.6 | 254,746,523 | ||
3.1 | 300,222,891 | |||
Total Common Stock | ||||
(Cost $2,535,785,297) | 9,736,264,912 | |||
Other Investment Companies 0.3% of net assets | ||||
Money Market Fund 0.2% | ||||
Other Securities | 0.2 | 26,263,404 | ||
Securities Lending Collateral 0.1% | ||||
Other Securities | 0.1 | 5,820,600 | ||
Total Other Investment Companies | ||||
(Cost $32,084,004) | 32,084,004 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
S&P 500 Index, e-mini, expires 12/18/20 | 208 | 33,952,880 | (1,323,653) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $5,675,853. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Dividends Received | |
The Charles Schwab Corp. | $15,595,187 | $1,594,082 | ($1,049,005) | ($6,418) | $3,040,310 | $19,174,156 | 466,411 | $264,536 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $9,736,264,912 | $— | $— | $9,736,264,912 | |
Other Investment Companies1 | 32,084,004 | — | — | 32,084,004 | |
Liabilities | |||||
Futures Contracts2 | (1,323,653) | — | — | (1,323,653) | |
Total | $9,767,025,263 | $— | $— | $9,767,025,263 |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $3,294,045) | $19,174,156 | |
Investments in unaffiliated issuers, at value (cost $2,558,754,656) including securities on loan of $5,675,853 | 9,743,354,160 | |
Collateral invested for securities on loan, at value (cost $5,820,600) | 5,820,600 | |
Deposit with broker for futures contracts | 2,844,000 | |
Receivables: | ||
Investments sold | 373,727 | |
Dividends | 8,829,736 | |
Fund shares sold | 8,286,881 | |
Income from securities on loan | + | 4,927 |
Total assets | 9,788,688,187 | |
Liabilities | ||
Collateral held for securities on loan | 5,820,600 | |
Payables: | ||
Investments bought | 3,315,253 | |
Investment adviser fees | 447,582 | |
Fund shares redeemed | 4,764,399 | |
Variation margin on futures contracts | + | 399,938 |
Total liabilities | 14,747,772 | |
Net Assets | ||
Total assets | 9,788,688,187 | |
Total liabilities | – | 14,747,772 |
Net assets | $9,773,940,415 | |
Net Assets by Source | ||
Capital received from investors | 2,283,611,583 | |
Total distributable earnings | 7,490,328,832 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$9,773,940,415 | 132,568,023 | $73.73 | ||
Investment Income | ||
Dividends received from affiliated issuer | $264,536 | |
Dividends received from unaffiliated issuers (net of foreign withholding tax of $4,519) | 191,469,491 | |
Securities on loan, net | + | 153,520 |
Total investment income | 191,887,547 | |
Expenses | ||
Investment adviser fees | 4,756,649 | |
Total expenses | – | 4,756,649 |
Net investment income | 187,130,898 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on affiliated issuer | (6,418) | |
Net realized gains on unaffiliated issuers | 111,568,510 | |
Net realized gains on futures contracts | + | 6,175,964 |
Net realized gains | 117,738,056 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 3,040,310 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 640,546,681 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (1,652,329) |
Net change in unrealized appreciation (depreciation) | + | 641,934,662 |
Net realized and unrealized gains | 759,672,718 | |
Increase in net assets resulting from operations | $946,803,616 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $187,130,898 | $181,692,334 | ||
Net realized gains | 117,738,056 | 111,070,500 | ||
Net change in unrealized appreciation (depreciation) | + | 641,934,662 | 831,678,079 | |
Increase in net assets from operations | 946,803,616 | 1,124,440,913 | ||
Distributions to Shareholders | ||||
Total distributions | ($290,754,043) | ($445,433,607) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 13,800,508 | $925,426,862 | 20,231,558 | $1,297,409,694 | ||||
Shares reinvested | 3,367,064 | 238,859,473 | 6,798,612 | 365,978,493 | ||||
Shares redeemed | + | (20,677,471) | (1,392,525,764) | (14,175,603) | (905,415,456) | |||
Net transactions in fund shares | (3,509,899) | ($228,239,429) | 12,854,567 | $757,972,731 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 136,077,922 | $9,346,130,271 | 123,223,355 | $7,909,150,234 | ||||
Total increase or decrease | + | (3,509,899) | 427,810,144 | 12,854,567 | 1,436,980,037 | |||
End of period | 132,568,023 | $9,773,940,415 | 136,077,922 | $9,346,130,271 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $28.84 | $30.48 | $31.45 | $25.60 | $26.29 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.35 | 0.40 | 0.43 | 0.38 | 0.39 | |
Net realized and unrealized gains (losses) | (0.23) | 0.54 | 0.20 | 6.62 | 0.59 | |
Total from investment operations | 0.12 | 0.94 | 0.63 | 7.00 | 0.98 | |
Less distributions: | ||||||
Distributions from net investment income | (0.42) | (0.40) | (0.39) | (0.39) | (0.36) | |
Distributions from net realized gains | (1.36) | (2.18) | (1.21) | (0.76) | (1.31) | |
Total distributions | (1.78) | (2.58) | (1.60) | (1.15) | (1.67) | |
Net asset value at end of period | $27.18 | $28.84 | $30.48 | $31.45 | $25.60 | |
Total return | 0.00% | 4.95% | 1.93% | 27.84% | 4.17% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.04% | 0.04% 2 | 0.05% | 0.10% 3 | 0.20% | |
Net operating expenses | N/A | N/A | N/A 4 | 0.09% 3 | 0.17% | |
Net investment income (loss) | 1.31% | 1.43% | 1.33% | 1.31% | 1.60% | |
Portfolio turnover rate | 21% | 14% | 17% | 11% | 17% | |
Net assets, end of period (x 1,000,000) | $3,988 | $4,187 | $3,874 | $3,531 | $2,619 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.7% of net assets | ||||
Automobiles & Components 1.5% | ||||
Other Securities | 1.5 | 58,627,761 | ||
Banks 9.8% | ||||
Essent Group Ltd. | 228,604 | 0.2 | 9,109,869 | |
South State Corp. | 144,934 | 0.2 | 8,898,948 | |
Other Securities | 9.4 | 370,788,292 | ||
9.8 | 388,797,109 | |||
Capital Goods 10.2% | ||||
Plug Power, Inc. * | 706,281 | 0.2 | 9,887,934 | |
SiteOne Landscape Supply, Inc. * | 91,090 | 0.3 | 10,884,344 | |
Sunrun, Inc. * | 302,438 | 0.4 | 15,732,825 | |
Other Securities | 9.3 | 371,203,256 | ||
10.2 | 407,708,359 | |||
Commercial & Professional Services 3.2% | ||||
Tetra Tech, Inc. | 111,813 | 0.3 | 11,283,050 | |
Other Securities | 2.9 | 116,530,771 | ||
3.2 | 127,813,821 | |||
Consumer Durables & Apparel 3.9% | ||||
Deckers Outdoor Corp. * | 58,061 | 0.4 | 14,710,916 | |
Helen of Troy Ltd. * | 52,485 | 0.2 | 9,951,156 | |
TopBuild Corp. * | 68,573 | 0.3 | 10,506,069 | |
Other Securities | 3.0 | 122,207,433 | ||
3.9 | 157,375,574 | |||
Consumer Services 4.0% | ||||
Caesars Entertainment, Inc. * | 343,846 | 0.4 | 15,411,178 | |
Churchill Downs, Inc. | 78,774 | 0.3 | 11,749,142 | |
Penn National Gaming, Inc. * | 315,382 | 0.4 | 17,024,320 | |
Texas Roadhouse, Inc. | 136,139 | 0.2 | 9,533,814 | |
Other Securities | 2.7 | 103,796,630 | ||
4.0 | 157,515,084 | |||
Diversified Financials 3.7% | ||||
Other Securities | 3.7 | 147,334,219 | ||
Energy 1.9% | ||||
Other Securities | 1.9 | 74,113,994 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Food & Staples Retailing 0.8% | ||||
BJ's Wholesale Club Holdings, Inc. * | 283,817 | 0.3 | 10,867,353 | |
Performance Food Group Co. * | 271,491 | 0.2 | 9,124,812 | |
Other Securities | 0.3 | 12,615,951 | ||
0.8 | 32,608,116 | |||
Food, Beverage & Tobacco 1.9% | ||||
Darling Ingredients, Inc. * | 333,575 | 0.4 | 14,343,725 | |
Freshpet, Inc. * | 80,262 | 0.2 | 9,189,999 | |
Other Securities | 1.3 | 54,156,981 | ||
1.9 | 77,690,705 | |||
Health Care Equipment & Services 7.5% | ||||
iRhythm Technologies, Inc. * | 56,832 | 0.3 | 12,017,126 | |
LHC Group, Inc. * | 62,938 | 0.3 | 13,629,224 | |
Nevro Corp. * | 69,617 | 0.3 | 10,387,553 | |
Other Securities | 6.6 | 264,712,379 | ||
7.5 | 300,746,282 | |||
Household & Personal Products 0.6% | ||||
Other Securities | 0.6 | 24,750,493 | ||
Insurance 2.4% | ||||
Other Securities | 2.4 | 94,578,248 | ||
Materials 4.2% | ||||
Other Securities | 4.2 | 165,843,322 | ||
Media & Entertainment 1.2% | ||||
Other Securities | 1.2 | 48,286,351 | ||
Pharmaceuticals, Biotechnology & Life Sciences 13.7% | ||||
Amicus Therapeutics, Inc. * | 526,357 | 0.2 | 9,384,945 | |
Arena Pharmaceuticals, Inc. * | 120,394 | 0.3 | 10,320,174 | |
Arrowhead Pharmaceuticals, Inc. * | 207,968 | 0.3 | 11,916,566 | |
Blueprint Medicines Corp. * | 114,616 | 0.3 | 11,722,924 | |
Emergent BioSolutions, Inc. * | 92,489 | 0.2 | 8,321,235 | |
Invitae Corp. * | 239,134 | 0.2 | 9,376,444 | |
Mirati Therapeutics, Inc. * | 85,554 | 0.5 | 18,577,196 | |
MyoKardia, Inc. * | 105,111 | 0.6 | 23,495,462 | |
Natera, Inc. * | 146,661 | 0.2 | 9,864,419 | |
NeoGenomics, Inc. * | 214,636 | 0.2 | 8,420,170 | |
Novavax, Inc. * | 127,748 | 0.3 | 10,310,541 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Ultragenyx Pharmaceutical, Inc. * | 119,279 | 0.3 | 11,987,539 | |
Other Securities | 10.1 | 400,886,086 | ||
13.7 | 544,583,701 | |||
Real Estate 6.3% | ||||
EastGroup Properties, Inc. | 80,123 | 0.3 | 10,662,769 | |
Redfin Corp. * | 200,903 | 0.2 | 8,391,718 | |
STAG Industrial, Inc. | 310,776 | 0.2 | 9,671,349 | |
Other Securities | 5.6 | 221,868,800 | ||
6.3 | 250,594,636 | |||
Retailing 3.8% | ||||
Lithia Motors, Inc., Class A | 52,818 | 0.3 | 12,125,428 | |
RH * | 32,237 | 0.3 | 10,806,809 | |
Other Securities | 3.2 | 130,437,330 | ||
3.8 | 153,369,567 | |||
Semiconductors & Semiconductor Equipment 2.8% | ||||
CMC Materials, Inc. | 60,171 | 0.2 | 8,555,715 | |
Lattice Semiconductor Corp. * | 278,802 | 0.2 | 9,730,190 | |
Silicon Laboratories, Inc. * | 89,870 | 0.2 | 9,208,080 | |
Other Securities | 2.2 | 83,677,751 | ||
2.8 | 111,171,736 | |||
Software & Services 7.4% | ||||
Blackline, Inc. * | 104,001 | 0.3 | 10,158,818 | |
Envestnet, Inc. * | 110,081 | 0.2 | 8,447,616 | |
LiveRamp Holdings, Inc. * | 132,895 | 0.2 | 8,783,031 | |
MAXIMUS, Inc. | 126,758 | 0.2 | 8,566,306 | |
Q2 Holdings, Inc. * | 102,813 | 0.2 | 9,380,658 | |
Other Securities | 6.3 | 249,077,408 | ||
7.4 | 294,413,837 | |||
Technology Hardware & Equipment 3.2% | ||||
II-VI, Inc. * | 208,882 | 0.2 | 9,497,865 | |
Other Securities | 3.0 | 119,552,112 | ||
3.2 | 129,049,977 | |||
Telecommunication Services 1.0% | ||||
Other Securities | 1.0 | 39,112,729 | ||
Transportation 1.4% | ||||
Other Securities | 1.4 | 56,393,568 | ||
Utilities 3.3% | ||||
Brookfield Renewable Corp., Class A | 141,696 | 0.2 | 9,461,042 | |
PNM Resources, Inc. | 164,492 | 0.2 | 8,224,600 | |
Other Securities | 2.9 | 115,367,110 | ||
3.3 | 133,052,752 | |||
Total Common Stock | ||||
(Cost $3,189,817,855) | 3,975,531,941 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Rights 0.0% of net assets | ||||
Capital Goods 0.0% | ||||
Other Securities | 0.0 | — | ||
Media & Entertainment 0.0% | ||||
Other Securities | 0.0 | 14,883 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||
Other Securities | 0.0 | 254,263 | ||
Total Rights | ||||
(Cost $6,703) | 269,146 | |||
Warrants 0.0% of net assets | ||||
Energy 0.0% | ||||
Other Securities | 0.0 | 9,962 | ||
Total Warrants | ||||
(Cost $—) | 9,962 | |||
Other Investment Company 1.5% of net assets | ||||
Securities Lending Collateral 1.5% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 57,653,589 | 1.5 | 57,653,589 | |
Total Other Investment Company | ||||
(Cost $57,653,589) | 57,653,589 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investment 0.3% of net assets | ||||
Time Deposit 0.3% | ||||
Sumitomo Mitsui Banking Corp. 0.01%, 11/02/20 (d) | 13,572,108 | 0.3 | 13,572,108 | |
Total Short-Term Investment | ||||
(Cost $13,572,108) | 13,572,108 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 2000 Index, e-mini, expires 12/18/20 | 160 | 12,294,400 | (514,409) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $53,460,251. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $3,809,688,619 | $— | $— | $3,809,688,619 | |
Materials | 165,843,322 | — | — * | 165,843,322 | |
Rights 1 | |||||
Capital Goods | — | — | — * | — | |
Media & Entertainment | — | — | 14,883 | 14,883 | |
Pharmaceuticals, Biotechnology & Life Sciences | — | — | 254,263 * | 254,263 | |
Warrants 1 | |||||
Energy | — | — | 9,962 | 9,962 | |
Other Investment Company1 | 57,653,589 | — | — | 57,653,589 | |
Short-Term Investment1 | — | 13,572,108 | — | 13,572,108 | |
Liabilities | |||||
Futures Contracts2 | (514,409) | — | — | (514,409) | |
Total | $4,032,671,121 | $13,572,108 | $279,108 | $4,046,522,337 |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2020. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $3,203,396,666) including securities on loan of $53,460,251 | $3,989,383,157 | |
Collateral invested for securities on loan, at value (cost $57,653,589) | 57,653,589 | |
Deposit with broker for futures contracts | 1,410,500 | |
Receivables: | ||
Investments sold | 331,369 | |
Fund shares sold | 4,274,240 | |
Dividends | 1,148,368 | |
Income from securities on loan | 560,773 | |
Foreign tax reclaims | + | 888 |
Total assets | 4,054,762,884 | |
Liabilities | ||
Collateral held for securities on loan | 57,653,589 | |
Payables: | ||
Investments bought | 2,330,996 | |
Investment adviser fees | 137,352 | |
Fund shares redeemed | 6,237,449 | |
Variation margin on futures contracts | + | 231,943 |
Total liabilities | 66,591,329 | |
Net Assets | ||
Total assets | 4,054,762,884 | |
Total liabilities | – | 66,591,329 |
Net assets | $3,988,171,555 | |
Net Assets by Source | ||
Capital received from investors | 3,212,453,051 | |
Total distributable earnings | 775,718,504 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$3,988,171,555 | 146,713,114 | $27.18 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $60,214) | $48,336,155 | |
Interest | 50,283 | |
Securities on loan, net | + | 5,318,547 |
Total investment income | 53,704,985 | |
Expenses | ||
Investment adviser fees | 1,594,282 | |
Total expenses | – | 1,594,282 |
Net investment income | 52,110,703 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 17,480,900 | |
Net realized losses on futures contracts | + | (1,171,165) |
Net realized gains | 16,309,735 | |
Net change in unrealized appreciation (depreciation) on investments | (65,407,073) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (802,666) |
Net change in unrealized appreciation (depreciation) | + | (66,209,739) |
Net realized and unrealized losses | (49,900,004) | |
Increase in net assets resulting from operations | $2,210,699 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $52,110,703 | $57,367,678 | ||
Net realized gains | 16,309,735 | 164,782,862 | ||
Net change in unrealized appreciation (depreciation) | + | (66,209,739) | (24,103,919) | |
Increase in net assets from operations | 2,210,699 | 198,046,621 | ||
Distributions to Shareholders | ||||
Total distributions | ($258,984,423) | ($331,678,196) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 42,497,497 | $1,056,026,388 | 34,352,492 | $953,623,893 | ||||
Shares reinvested | 7,453,061 | 217,331,235 | 12,063,839 | 284,224,067 | ||||
Shares redeemed | + | (48,388,038) | (1,215,269,449) | (28,348,900) | (791,168,893) | |||
Net transactions in fund shares | 1,562,520 | $58,088,174 | 18,067,431 | $446,679,067 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 145,150,594 | $4,186,857,105 | 127,083,163 | $3,873,809,613 | ||||
Total increase or decrease | + | 1,562,520 | (198,685,550) | 18,067,431 | 313,047,492 | |||
End of period | 146,713,114 | $3,988,171,555 | 145,150,594 | $4,186,857,105 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $53.42 | $48.38 | $46.25 | $38.19 | $37.69 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 1.07 | 0.99 | 0.88 | 0.80 | 0.75 | |
Net realized and unrealized gains (losses) | 4.21 | 5.18 | 2.12 | 8.19 | 0.75 | |
Total from investment operations | 5.28 | 6.17 | 3.00 | 8.99 | 1.50 | |
Less distributions: | ||||||
Distributions from net investment income | (0.94) | (0.90) | (0.76) | (0.74) | (0.70) | |
Distributions from net realized gains | (0.14) | (0.23) | (0.11) | (0.19) | (0.30) | |
Total distributions | (1.08) | (1.13) | (0.87) | (0.93) | (1.00) | |
Net asset value at end of period | $57.62 | $53.42 | $48.38 | $46.25 | $38.19 | |
Total return | 9.94% | 13.37% | 6.51% | 23.89% | 4.19% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.03% | 0.03% | 0.03% | 0.05% 2 | 0.10% | |
Net operating expenses | N/A | N/A | N/A 3 | 0.05% 2 | 0.09% | |
Net investment income (loss) | 1.96% | 1.99% | 1.80% | 1.89% | 2.03% | |
Portfolio turnover rate | 4% | 3% | 4% | 2% | 1% | |
Net assets, end of period (x 1,000,000) | $11,487 | $10,220 | $8,410 | $6,720 | $4,850 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.3% of net assets | ||||
Automobiles & Components 1.4% | ||||
Tesla, Inc. * | 258,880 | 0.9 | 100,455,795 | |
Other Securities | 0.5 | 58,479,721 | ||
1.4 | 158,935,516 | |||
Banks 3.7% | ||||
Bank of America Corp. | 2,648,462 | 0.5 | 62,768,549 | |
JPMorgan Chase & Co. | 1,058,399 | 0.9 | 103,765,438 | |
Other Securities | 2.3 | 258,500,472 | ||
3.7 | 425,034,459 | |||
Capital Goods 5.9% | ||||
Other Securities | 5.9 | 679,683,978 | ||
Commercial & Professional Services 1.1% | ||||
Other Securities | 1.1 | 123,147,922 | ||
Consumer Durables & Apparel 1.5% | ||||
NIKE, Inc., Class B | 431,771 | 0.5 | 51,847,062 | |
Other Securities | 1.0 | 120,187,104 | ||
1.5 | 172,034,166 | |||
Consumer Services 1.9% | ||||
McDonald's Corp. | 258,413 | 0.5 | 55,041,969 | |
Other Securities | 1.4 | 164,459,452 | ||
1.9 | 219,501,421 | |||
Diversified Financials 4.5% | ||||
Berkshire Hathaway, Inc., Class B * | 688,318 | 1.2 | 138,971,404 | |
The Charles Schwab Corp. (c) | 514,196 | 0.2 | 21,138,598 | |
Other Securities | 3.1 | 363,304,530 | ||
4.5 | 523,414,532 | |||
Energy 1.9% | ||||
Chevron Corp. | 668,886 | 0.4 | 46,487,577 | |
Exxon Mobil Corp. | 1,467,442 | 0.4 | 47,867,958 | |
Other Securities | 1.1 | 120,143,497 | ||
1.9 | 214,499,032 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Food & Staples Retailing 1.4% | ||||
Costco Wholesale Corp. | 153,276 | 0.5 | 54,814,563 | |
Walmart, Inc. | 482,312 | 0.6 | 66,920,790 | |
Other Securities | 0.3 | 38,661,951 | ||
1.4 | 160,397,304 | |||
Food, Beverage & Tobacco 3.1% | ||||
PepsiCo, Inc. | 480,930 | 0.6 | 64,103,160 | |
The Coca-Cola Co. | 1,342,562 | 0.6 | 64,523,530 | |
Other Securities | 1.9 | 224,524,166 | ||
3.1 | 353,150,856 | |||
Health Care Equipment & Services 6.6% | ||||
Abbott Laboratories | 614,510 | 0.6 | 64,591,146 | |
Danaher Corp. | 218,952 | 0.4 | 50,258,242 | |
Medtronic plc | 466,769 | 0.4 | 46,942,958 | |
UnitedHealth Group, Inc. | 330,093 | 0.9 | 100,724,578 | |
Other Securities | 4.3 | 494,450,833 | ||
6.6 | 756,967,757 | |||
Household & Personal Products 1.7% | ||||
The Procter & Gamble Co. | 864,619 | 1.0 | 118,539,265 | |
Other Securities | 0.7 | 82,063,289 | ||
1.7 | 200,602,554 | |||
Insurance 2.0% | ||||
Other Securities | 2.0 | 230,583,323 | ||
Materials 2.8% | ||||
Other Securities | 2.8 | 318,876,203 | ||
Media & Entertainment 8.4% | ||||
Alphabet, Inc., Class A * | 104,341 | 1.5 | 168,626,534 | |
Alphabet, Inc., Class C * | 101,954 | 1.4 | 165,268,454 | |
Comcast Corp., Class A | 1,581,730 | 0.6 | 66,812,275 | |
Facebook, Inc., Class A * | 835,106 | 1.9 | 219,724,740 | |
Netflix, Inc. * | 153,279 | 0.6 | 72,920,951 | |
The Walt Disney Co. | 627,587 | 0.7 | 76,094,924 | |
Other Securities | 1.7 | 199,131,635 | ||
8.4 | 968,579,513 | |||
Pharmaceuticals, Biotechnology & Life Sciences 7.7% | ||||
AbbVie, Inc. | 613,266 | 0.5 | 52,188,937 | |
Amgen, Inc. | 203,408 | 0.4 | 44,127,332 | |
Bristol-Myers Squibb Co. | 783,757 | 0.4 | 45,810,597 | |
Johnson & Johnson | 914,373 | 1.1 | 125,369,682 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Merck & Co., Inc. | 878,448 | 0.6 | 66,068,074 | |
Pfizer, Inc. | 1,929,965 | 0.6 | 68,475,158 | |
Thermo Fisher Scientific, Inc. | 137,337 | 0.6 | 64,976,881 | |
Other Securities | 3.5 | 413,572,103 | ||
7.7 | 880,588,764 | |||
Real Estate 3.2% | ||||
Other Securities | 3.2 | 372,856,413 | ||
Retailing 7.4% | ||||
Amazon.com, Inc. * | 147,856 | 3.9 | 448,912,994 | |
The Home Depot, Inc. | 373,887 | 0.9 | 99,719,402 | |
Other Securities | 2.6 | 298,407,323 | ||
7.4 | 847,039,719 | |||
Semiconductors & Semiconductor Equipment 4.8% | ||||
Broadcom, Inc. | 139,654 | 0.4 | 48,827,228 | |
Intel Corp. | 1,477,190 | 0.6 | 65,409,973 | |
NVIDIA Corp. | 214,201 | 0.9 | 107,391,813 | |
QUALCOMM, Inc. | 391,263 | 0.4 | 48,266,204 | |
Texas Instruments, Inc. | 317,623 | 0.4 | 45,925,110 | |
Other Securities | 2.1 | 232,427,802 | ||
4.8 | 548,248,130 | |||
Software & Services 14.6% | ||||
Accenture plc, Class A | 220,847 | 0.4 | 47,903,923 | |
Adobe, Inc. * | 166,590 | 0.6 | 74,482,389 | |
Mastercard, Inc., Class A | 306,804 | 0.8 | 88,555,907 | |
Microsoft Corp. | 2,627,948 | 4.6 | 532,080,632 | |
PayPal Holdings, Inc. * | 407,785 | 0.7 | 75,901,022 | |
salesforce.com, Inc. * | 316,156 | 0.6 | 73,433,554 | |
Visa, Inc., Class A | 585,552 | 0.9 | 106,400,654 | |
Other Securities | 6.0 | 682,219,977 | ||
14.6 | 1,680,978,058 | |||
Technology Hardware & Equipment 7.1% | ||||
Apple Inc. | 5,582,864 | 5.3 | 607,750,575 | |
Cisco Systems, Inc. | 1,470,037 | 0.5 | 52,774,328 | |
Other Securities | 1.3 | 154,472,404 | ||
7.1 | 814,997,307 | |||
Telecommunication Services 1.6% | ||||
AT&T, Inc. | 2,474,722 | 0.6 | 66,866,988 | |
Verizon Communications, Inc. | 1,437,058 | 0.7 | 81,897,935 | |
Other Securities | 0.3 | 38,639,222 | ||
1.6 | 187,404,145 | |||
Transportation 2.0% | ||||
Other Securities | 2.0 | 226,973,386 | ||
Utilities 3.0% | ||||
NextEra Energy, Inc. | 679,260 | 0.4 | 49,728,625 | |
Other Securities | 2.6 | 293,880,727 | ||
3.0 | 343,609,352 | |||
Total Common Stock | ||||
(Cost $6,454,404,116) | 11,408,103,810 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Rights 0.0% of net assets | ||||
Capital Goods 0.0% | ||||
Other Securities | 0.0 | — | ||
Media & Entertainment 0.0% | ||||
Other Securities | 0.0 | 1,566 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||
Other Securities | 0.0 | 17,337 | ||
Total Rights | ||||
(Cost $1,204) | 18,903 | |||
Warrants 0.0% of net assets | ||||
Energy 0.0% | ||||
Other Securities | 0.0 | 1,219 | ||
Total Warrants | ||||
(Cost $—) | 1,219 | |||
Other Investment Company 0.1% of net assets | ||||
Securities Lending Collateral 0.1% | ||||
Other Securities | 0.1 | 18,771,910 | ||
Total Other Investment Company | ||||
(Cost $18,771,910) | 18,771,910 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investment 0.5% of net assets | ||||
Time Deposit 0.5% | ||||
Skandinaviska Enskilda Banken 0.01%, 11/02/20 (e) | 53,766,597 | 0.5 | 53,766,597 | |
Total Short-Term Investment | ||||
(Cost $53,766,597) | 53,766,597 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Appreciation (Depreciation) ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 2000 Index, e-mini, expires 12/18/20 | 150 | 11,526,000 | 105,271 | |
S&P 500 Index, e-mini, expires 12/18/20 | 404 | 65,946,940 | (1,624,776) | |
Net Unrealized Depreciation | (1,519,505) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $17,807,791. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | Issuer is affiliated with the fund’s investment adviser. |
(d) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Dividends Received | |
The Charles Schwab Corp. | $15,925,101 | $4,347,073 | ($421,136) | ($78,452) | $1,366,012 | $21,138,598 | 514,196 | $282,384 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $10,119,344,124 | $— | $— | $10,119,344,124 | |
Automobiles & Components | 158,878,137 | — | 57,379 | 158,935,516 | |
Health Care Equipment & Services | 754,258,764 | — | 2,708,993 | 756,967,757 | |
Real Estate | 372,856,413 | — | — * | 372,856,413 | |
Rights 1 | |||||
Capital Goods | — | — | — * | — | |
Media & Entertainment | — | — | 1,566 | 1,566 | |
Pharmaceuticals, Biotechnology & Life Sciences | — | — | 17,337 * | 17,337 | |
Warrants 1 | |||||
Energy | — | — | 1,219 | 1,219 | |
Other Investment Company1 | 18,771,910 | — | — | 18,771,910 | |
Short-Term Investment1 | — | 53,766,597 | — | 53,766,597 | |
Futures Contracts2 | 105,271 | — | — | 105,271 | |
Liabilities | |||||
Futures Contracts2 | (1,624,776) | — | — | (1,624,776) | |
Total | $11,422,589,843 | $53,766,597 | $2,786,494 | $11,479,142,934 |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2020. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $15,612,346) | $21,138,598 | |
Investments in unaffiliated issuers, at value (cost $6,492,559,571) including securities on loan of $17,807,791 | 11,440,751,931 | |
Collateral invested for securities on loan, at value (cost $18,771,910) | 18,771,910 | |
Deposit with broker for futures contracts | 5,674,999 | |
Receivables: | ||
Investments sold | 488,093 | |
Fund shares sold | 16,385,725 | |
Dividends | 9,874,920 | |
Income from securities on loan | 146,956 | |
Foreign tax reclaims | 159 | |
Interest | + | 45 |
Total assets | 11,513,233,336 | |
Liabilities | ||
Collateral held for securities on loan | 18,771,910 | |
Payables: | ||
Investments bought | 1,166,947 | |
Investment adviser fees | 291,264 | |
Fund shares redeemed | 4,721,387 | |
Variation margin on futures contracts | + | 844,058 |
Total liabilities | 25,795,566 | |
Net Assets | ||
Total assets | 11,513,233,336 | |
Total liabilities | – | 25,795,566 |
Net assets | $11,487,437,770 | |
Net Assets by Source | ||
Capital received from investors | 6,454,783,428 | |
Total distributable earnings | 5,032,654,342 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$11,487,437,770 | 199,376,459 | $57.62 | ||
Investment Income | ||
Dividends received from affiliated issuer | $282,384 | |
Dividends received from unaffiliated issuers (net of foreign withholding tax of $16,788) | 214,139,541 | |
Interest | 90,763 | |
Securities on loan, net | + | 1,244,377 |
Total investment income | 215,757,065 | |
Expenses | ||
Investment adviser fees | 3,259,136 | |
Total expenses | – | 3,259,136 |
Net investment income | 212,497,929 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on affiliated issuer | (78,452) | |
Net realized losses on unaffiliated issuers | (31,263,854) | |
Net realized gains on futures contracts | + | 5,938,005 |
Net realized losses | (25,404,301) | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 1,366,012 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 847,824,605 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (1,503,468) |
Net change in unrealized appreciation (depreciation) | + | 847,687,149 |
Net realized and unrealized gains | 822,282,848 | |
Increase in net assets resulting from operations | $1,034,780,777 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $212,497,929 | $184,998,541 | ||
Net realized gains (losses) | (25,404,301) | 606,877 | ||
Net change in unrealized appreciation (depreciation) | + | 847,687,149 | 1,012,024,065 | |
Increase in net assets from operations | 1,034,780,777 | 1,197,629,483 | ||
Distributions to Shareholders | ||||
Total distributions | ($207,148,798) | ($199,442,079) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 47,954,413 | $2,507,068,155 | 41,564,151 | $2,031,277,091 | ||||
Shares reinvested | 2,723,498 | 151,971,124 | 3,549,021 | 149,293,091 | ||||
Shares redeemed | + | (42,603,146) | (2,219,143,615) | (27,643,143) | (1,368,397,596) | |||
Net transactions in fund shares | 8,074,765 | $439,895,664 | 17,470,029 | $812,172,586 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 191,301,694 | $10,219,910,127 | 173,831,665 | $8,409,550,137 | ||||
Total increase | + | 8,074,765 | 1,267,527,643 | 17,470,029 | 1,810,359,990 | |||
End of period | 199,376,459 | $11,487,437,770 | 191,301,694 | $10,219,910,127 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 12/20/17 1– 10/31/18 | ||||
Per-Share Data | ||||||
Net asset value at beginning of period | $49.06 | $42.37 | $40.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.55 | 0.57 | 0.46 | |||
Net realized and unrealized gains (losses) | 13.65 | 6.52 | 1.91 3 | |||
Total from investment operations | 14.20 | 7.09 | 2.37 | |||
Less distributions: | ||||||
Distributions from net investment income | (0.50) | (0.40) | — | |||
Net asset value at end of period | $62.76 | $49.06 | $42.37 | |||
Total return | 29.16% | 17.04% | 5.93% 4 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.035% | 0.035% 5 | 0.040% 6,7 | |||
Net operating expenses | N/A | N/A | 0.02% 6,7 | |||
Net investment income (loss) | 0.97% | 1.27% | 1.23% 6 | |||
Portfolio turnover rate | 41% | 46% | 23% 4 | |||
Net assets, end of period (x 1,000,000) | $487 | $166 | $93 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.6% of net assets | ||||
Automobiles & Components 1.8% | ||||
Tesla, Inc. * | 22,490 | 1.8 | 8,727,019 | |
Other Securities | 0.0 | 31,692 | ||
1.8 | 8,758,711 | |||
Banks 0.0% | ||||
Other Securities | 0.0 | 20,636 | ||
Capital Goods 2.3% | ||||
3M Co. | 11,287 | 0.4 | 1,805,468 | |
Lockheed Martin Corp. | 7,529 | 0.5 | 2,636,129 | |
Other Securities | 1.4 | 6,654,179 | ||
2.3 | 11,095,776 | |||
Commercial & Professional Services 1.0% | ||||
Other Securities | 1.0 | 5,116,928 | ||
Consumer Durables & Apparel 1.2% | ||||
NIKE, Inc., Class B | 36,845 | 0.9 | 4,424,348 | |
Other Securities | 0.3 | 1,458,140 | ||
1.2 | 5,882,488 | |||
Consumer Services 1.1% | ||||
Starbucks Corp. | 20,521 | 0.4 | 1,784,506 | |
Other Securities | 0.7 | 3,511,980 | ||
1.1 | 5,296,486 | |||
Diversified Financials 1.2% | ||||
Other Securities | 1.2 | 5,935,783 | ||
Energy 0.1% | ||||
Other Securities | 0.1 | 344,508 | ||
Food & Staples Retailing 1.0% | ||||
Costco Wholesale Corp. | 11,850 | 0.9 | 4,237,797 | |
Other Securities | 0.1 | 695,913 | ||
1.0 | 4,933,710 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Food, Beverage & Tobacco 2.3% | ||||
PepsiCo, Inc. | 30,982 | 0.8 | 4,129,591 | |
The Coca-Cola Co. | 69,032 | 0.7 | 3,317,678 | |
Other Securities | 0.8 | 3,819,783 | ||
2.3 | 11,267,052 | |||
Health Care Equipment & Services 6.0% | ||||
Abbott Laboratories | 20,191 | 0.4 | 2,122,276 | |
Intuitive Surgical, Inc. * | 3,521 | 0.5 | 2,348,789 | |
UnitedHealth Group, Inc. | 23,893 | 1.5 | 7,290,710 | |
Other Securities | 3.6 | 17,334,192 | ||
6.0 | 29,095,967 | |||
Household & Personal Products 1.5% | ||||
The Procter & Gamble Co. | 33,124 | 0.9 | 4,541,300 | |
Other Securities | 0.6 | 2,632,552 | ||
1.5 | 7,173,852 | |||
Insurance 0.7% | ||||
Other Securities | 0.7 | 3,331,556 | ||
Materials 0.9% | ||||
Other Securities | 0.9 | 4,170,270 | ||
Media & Entertainment 11.6% | ||||
Alphabet, Inc., Class A * | 7,084 | 2.3 | 11,448,523 | |
Alphabet, Inc., Class C * | 6,992 | 2.3 | 11,334,102 | |
Charter Communications, Inc., Class A * | 4,108 | 0.5 | 2,480,493 | |
Facebook, Inc., Class A * | 73,039 | 3.9 | 19,217,291 | |
Netflix, Inc. * | 12,937 | 1.3 | 6,154,648 | |
Other Securities | 1.3 | 5,859,530 | ||
11.6 | 56,494,587 | |||
Pharmaceuticals, Biotechnology & Life Sciences 7.8% | ||||
AbbVie, Inc. | 50,380 | 0.9 | 4,287,338 | |
Amgen, Inc. | 17,907 | 0.8 | 3,884,745 | |
Eli Lilly & Co. | 25,620 | 0.7 | 3,342,385 | |
Merck & Co., Inc. | 67,156 | 1.0 | 5,050,803 | |
Thermo Fisher Scientific, Inc. | 7,051 | 0.7 | 3,335,969 | |
Zoetis, Inc. | 13,082 | 0.4 | 2,074,151 | |
Other Securities | 3.3 | 15,902,011 | ||
7.8 | 37,877,402 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Real Estate 1.8% | ||||
American Tower Corp. | 13,417 | 0.6 | 3,081,214 | |
Crown Castle International Corp. | 11,791 | 0.4 | 1,841,754 | |
Equinix, Inc. | 2,673 | 0.4 | 1,954,604 | |
Other Securities | 0.4 | 1,983,892 | ||
1.8 | 8,861,464 | |||
Retailing 12.1% | ||||
Amazon.com, Inc. * | 12,896 | 8.0 | 39,154,190 | |
Booking Holdings, Inc. * | 1,243 | 0.4 | 2,016,767 | |
Lowe's Cos., Inc. | 22,989 | 0.7 | 3,634,561 | |
The Home Depot, Inc. | 16,336 | 0.9 | 4,356,975 | |
Other Securities | 2.1 | 10,050,225 | ||
12.1 | 59,212,718 | |||
Semiconductors & Semiconductor Equipment 6.1% | ||||
Advanced Micro Devices, Inc. * | 32,986 | 0.5 | 2,483,516 | |
Broadcom, Inc. | 11,257 | 0.8 | 3,935,785 | |
NVIDIA Corp. | 17,957 | 1.8 | 9,002,921 | |
QUALCOMM, Inc. | 34,237 | 0.9 | 4,223,476 | |
Texas Instruments, Inc. | 13,907 | 0.4 | 2,010,813 | |
Other Securities | 1.7 | 8,334,441 | ||
6.1 | 29,990,952 | |||
Software & Services 26.2% | ||||
Accenture plc, Class A | 19,387 | 0.9 | 4,205,234 | |
Adobe, Inc. * | 14,634 | 1.3 | 6,542,861 | |
Intuit, Inc. | 7,665 | 0.5 | 2,412,022 | |
Mastercard, Inc., Class A | 26,835 | 1.6 | 7,745,654 | |
Microsoft Corp. | 227,751 | 9.5 | 46,112,745 | |
Oracle Corp. | 51,408 | 0.6 | 2,884,503 | |
PayPal Holdings, Inc. * | 35,724 | 1.4 | 6,649,308 | |
salesforce.com, Inc. * | 24,422 | 1.2 | 5,672,498 | |
ServiceNow, Inc. * | 5,780 | 0.6 | 2,875,955 | |
Visa, Inc., Class A | 51,358 | 1.9 | 9,332,262 | |
Zoom Video Communications, Inc., Class A * | 5,079 | 0.5 | 2,340,962 | |
Other Securities | 6.2 | 30,725,907 | ||
26.2 | 127,499,911 | |||
Technology Hardware & Equipment 11.6% | ||||
Apple Inc. | 490,823 | 11.0 | 53,430,992 | |
Other Securities | 0.6 | 2,904,440 | ||
11.6 | 56,335,432 | |||
Transportation 1.3% | ||||
Union Pacific Corp. | 10,533 | 0.4 | 1,866,342 | |
United Parcel Service, Inc., Class B | 14,158 | 0.5 | 2,224,363 | |
Other Securities | 0.4 | 2,105,361 | ||
1.3 | 6,196,066 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Utilities 0.0% | ||||
Other Securities | 0.0 | 81,833 | ||
Total Common Stock | ||||
(Cost $360,904,879) | 484,974,088 | |||
Other Investment Companies 0.8% of net assets | ||||
Equity Funds 0.1% | ||||
Other Securities | 0.1 | 482,034 | ||
Money Market Fund 0.7% | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 3,525,848 | 0.7 | 3,525,848 | |
Securities Lending Collateral 0.0% | ||||
Other Securities | 0.0 | 18,600 | ||
Total Other Investment Companies | ||||
(Cost $4,005,638) | 4,026,482 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 1000 Index, e-mini, expires 12/18/20 | 20 | 2,108,600 | (53,043) | |
S&P 500 Index, e-mini, expires 12/18/20 | 1 | 163,235 | (10,492) | |
Net Unrealized Depreciation | (63,535) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $17,700. |
(c) | The rate shown is the 7-day yield. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Dividends Received | |
The Charles Schwab Corp. | $328,652 | $487,415 | ($658,489) | ($185,704) | $28,126 | $— | — | $5,963 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $455,878,121 | $— | $— | $455,878,121 | |
Health Care Equipment & Services | 28,893,814 | — | 202,153 | 29,095,967 | |
Other Investment Companies1 | 4,026,482 | — | — | 4,026,482 | |
Liabilities | |||||
Futures Contracts2 | (63,535) | — | — | (63,535) | |
Total | $488,734,882 | $— | $202,153 | $488,937,035 |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $364,891,917) including securities on loan of $17,700 | $488,981,970 | |
Collateral invested for securities on loan, at value (cost $18,600) | 18,600 | |
Deposit with broker for futures contracts | 112,800 | |
Receivables: | ||
Investments sold | 64,346 | |
Fund shares sold | 1,491,713 | |
Dividends | 191,747 | |
Income from securities on loan | + | 264 |
Total assets | 490,861,440 | |
Liabilities | ||
Collateral held for securities on loan | 18,600 | |
Payables: | ||
Investments bought | 2,798,047 | |
Investment adviser fees | 15,587 | |
Fund shares redeemed | 788,205 | |
Variation margin on futures contracts | + | 36,007 |
Total liabilities | 3,656,446 | |
Net Assets | ||
Total assets | 490,861,440 | |
Total liabilities | – | 3,656,446 |
Net assets | $487,204,994 | |
Net Assets by Source | ||
Capital received from investors | 375,282,029 | |
Total distributable earnings | 111,922,965 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$487,204,994 | 7,763,241 | $62.76 | ||
Investment Income | ||
Dividends received from affiliated issuer | $5,963 | |
Dividends received from unaffiliated issuers | 3,381,295 | |
Securities on loan, net | + | 4,016 |
Total investment income | 3,391,274 | |
Expenses | ||
Investment adviser fees | 118,739 | |
Total expenses | – | 118,739 |
Net investment income | 3,272,535 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on affiliated issuer | (185,704) | |
Net realized losses on unaffiliated issuers | (11,032,513) | |
Net realized gains on futures contracts | + | 726,432 |
Net realized losses | (10,491,785) | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 28,126 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 98,499,456 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (62,964) |
Net change in unrealized appreciation (depreciation) | + | 98,464,618 |
Net realized and unrealized gains | 87,972,833 | |
Increase in net assets resulting from operations | $91,245,368 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $3,272,535 | $1,673,328 | ||
Net realized losses | (10,491,785) | (3,852,313) | ||
Net change in unrealized appreciation (depreciation) | + | 98,464,618 | 25,108,024 | |
Increase in net assets from operations | 91,245,368 | 22,929,039 | ||
Distributions to Shareholders | ||||
Total distributions | ($1,890,344) | ($949,803) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 8,242,661 | $434,758,920 | 2,776,749 | $120,542,470 | ||||
Shares reinvested | 30,207 | 1,571,983 | 22,696 | 838,591 | ||||
Shares redeemed | + | (3,889,701) | (204,300,295) | (1,608,317) | (70,292,844) | |||
Net transactions in fund shares | 4,383,167 | $232,030,608 | 1,191,128 | $51,088,217 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 3,380,074 | $165,819,362 | 2,188,946 | $92,751,909 | ||||
Total increase | + | 4,383,167 | 321,385,632 | 1,191,128 | 73,067,453 | |||
End of period | 7,763,241 | $487,204,994 | 3,380,074 | $165,819,362 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 12/20/17 1– 10/31/18 | ||||
Per-Share Data | ||||||
Net asset value at beginning of period | $43.06 | $39.51 | $40.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 1.00 | 1.13 | 0.82 | |||
Net realized and unrealized gains (losses) | (4.07) | 3.10 | (1.31) | |||
Total from investment operations | (3.07) | 4.23 | (0.49) | |||
Less distributions: | ||||||
Distributions from net investment income | (1.06) | (0.62) | — | |||
Distributions from net realized gains | (0.84) | (0.06) | — | |||
Total distributions | (1.90) | (0.68) | — | |||
Net asset value at end of period | $38.09 | $43.06 | $39.51 | |||
Total return | (7.69%) | 11.08% | (1.23%) 3 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.035% | 0.035% 4 | 0.040% 5,6 | |||
Net operating expenses | N/A | N/A | 0.02% 5,6 | |||
Net investment income (loss) | 2.57% | 2.79% | 2.36% 5 | |||
Portfolio turnover rate | 50% | 22% | 22% 3 | |||
Net assets, end of period (x 1,000,000) | $331 | $212 | $70 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.7% of net assets | ||||
Automobiles & Components 0.9% | ||||
Other Securities | 0.9 | 2,940,409 | ||
Banks 7.0% | ||||
Bank of America Corp. | 174,717 | 1.2 | 4,140,793 | |
Citigroup, Inc. | 47,034 | 0.6 | 1,948,148 | |
JPMorgan Chase & Co. | 68,420 | 2.0 | 6,707,897 | |
Wells Fargo & Co. | 84,818 | 0.5 | 1,819,346 | |
Other Securities | 2.7 | 8,460,201 | ||
7.0 | 23,076,385 | |||
Capital Goods 9.4% | ||||
Caterpillar, Inc. | 12,230 | 0.6 | 1,920,721 | |
Deere & Co. | 6,367 | 0.4 | 1,438,369 | |
General Electric Co. | 196,294 | 0.4 | 1,456,501 | |
Honeywell International, Inc. | 15,860 | 0.8 | 2,616,107 | |
Raytheon Technologies Corp. | 32,198 | 0.5 | 1,748,995 | |
The Boeing Co. | 12,062 | 0.5 | 1,741,632 | |
Other Securities | 6.2 | 20,107,854 | ||
9.4 | 31,030,179 | |||
Commercial & Professional Services 0.8% | ||||
Other Securities | 0.8 | 2,849,841 | ||
Consumer Durables & Apparel 1.4% | ||||
Other Securities | 1.4 | 4,584,046 | ||
Consumer Services 2.7% | ||||
McDonald's Corp. | 14,411 | 0.9 | 3,069,543 | |
Other Securities | 1.8 | 5,744,350 | ||
2.7 | 8,813,893 | |||
Diversified Financials 8.0% | ||||
Berkshire Hathaway, Inc., Class B * | 43,277 | 2.6 | 8,737,626 | |
BlackRock, Inc. | 3,324 | 0.6 | 1,991,774 | |
Morgan Stanley | 30,120 | 0.4 | 1,450,278 | |
The Charles Schwab Corp. (a) | 32,350 | 0.4 | 1,329,909 | |
Other Securities | 4.0 | 12,922,206 | ||
8.0 | 26,431,793 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Energy 3.9% | ||||
Chevron Corp. | 43,505 | 0.9 | 3,023,598 | |
Exxon Mobil Corp. | 95,600 | 0.9 | 3,118,472 | |
Other Securities | 2.1 | 6,649,743 | ||
3.9 | 12,791,813 | |||
Food & Staples Retailing 1.9% | ||||
Walmart, Inc. | 31,479 | 1.3 | 4,367,711 | |
Other Securities | 0.6 | 2,003,193 | ||
1.9 | 6,370,904 | |||
Food, Beverage & Tobacco 4.1% | ||||
Mondelez International, Inc., Class A | 31,888 | 0.5 | 1,693,891 | |
Philip Morris International, Inc. | 35,145 | 0.8 | 2,495,998 | |
The Coca-Cola Co. | 36,057 | 0.5 | 1,732,899 | |
Other Securities | 2.3 | 7,657,730 | ||
4.1 | 13,580,518 | |||
Health Care Equipment & Services 7.2% | ||||
Abbott Laboratories | 24,051 | 0.8 | 2,528,001 | |
Becton, Dickinson & Co. | 6,231 | 0.4 | 1,440,171 | |
CVS Health Corp. | 29,522 | 0.5 | 1,655,889 | |
Danaher Corp. | 14,140 | 1.0 | 3,245,696 | |
Medtronic plc | 30,300 | 0.9 | 3,047,271 | |
Other Securities | 3.6 | 11,985,683 | ||
7.2 | 23,902,711 | |||
Household & Personal Products 2.2% | ||||
Colgate-Palmolive Co. | 19,030 | 0.5 | 1,501,277 | |
The Procter & Gamble Co. | 30,437 | 1.3 | 4,172,913 | |
Other Securities | 0.4 | 1,547,808 | ||
2.2 | 7,221,998 | |||
Insurance 3.4% | ||||
Other Securities | 3.4 | 11,438,479 | ||
Materials 4.8% | ||||
Linde plc | 11,863 | 0.8 | 2,613,893 | |
Other Securities | 4.0 | 13,272,346 | ||
4.8 | 15,886,239 | |||
Media & Entertainment 6.0% | ||||
Alphabet, Inc., Class A * | 1,519 | 0.7 | 2,454,871 | |
Alphabet, Inc., Class C * | 1,499 | 0.7 | 2,429,894 | |
Comcast Corp., Class A | 102,351 | 1.3 | 4,323,306 |
Security | Number of Shares | % of Net Assets | Value ($) | |
The Walt Disney Co. | 40,824 | 1.5 | 4,949,910 | |
Other Securities | 1.8 | 5,601,564 | ||
6.0 | 19,759,545 | |||
Pharmaceuticals, Biotechnology & Life Sciences 6.9% | ||||
Bristol-Myers Squibb Co. | 32,574 | 0.6 | 1,903,950 | |
Gilead Sciences, Inc. | 28,364 | 0.5 | 1,649,367 | |
Johnson & Johnson | 51,580 | 2.1 | 7,072,134 | |
Pfizer, Inc. | 125,613 | 1.3 | 4,456,749 | |
Thermo Fisher Scientific, Inc. | 3,684 | 0.5 | 1,742,974 | |
Other Securities | 1.9 | 6,210,334 | ||
6.9 | 23,035,508 | |||
Real Estate 4.5% | ||||
Prologis, Inc. | 16,623 | 0.5 | 1,649,002 | |
Other Securities | 4.0 | 13,229,351 | ||
4.5 | 14,878,353 | |||
Retailing 2.7% | ||||
Target Corp. | 11,289 | 0.5 | 1,718,412 | |
The Home Depot, Inc. | 12,134 | 1.0 | 3,236,259 | |
Other Securities | 1.2 | 4,097,694 | ||
2.7 | 9,052,365 | |||
Semiconductors & Semiconductor Equipment 3.2% | ||||
Intel Corp. | 95,750 | 1.3 | 4,239,810 | |
Texas Instruments, Inc. | 10,410 | 0.5 | 1,505,182 | |
Other Securities | 1.4 | 4,969,977 | ||
3.2 | 10,714,969 | |||
Software & Services 3.3% | ||||
Fidelity National Information Services, Inc. | 13,945 | 0.5 | 1,737,408 | |
International Business Machines Corp. | 20,068 | 0.7 | 2,240,793 | |
Other Securities | 2.1 | 7,076,487 | ||
3.3 | 11,054,688 | |||
Technology Hardware & Equipment 2.7% | ||||
Cisco Systems, Inc. | 95,914 | 1.0 | 3,443,313 | |
Other Securities | 1.7 | 5,425,043 | ||
2.7 | 8,868,356 | |||
Telecommunication Services 3.5% | ||||
AT&T, Inc. | 161,063 | 1.3 | 4,351,922 | |
Verizon Communications, Inc. | 93,583 | 1.6 | 5,333,295 | |
Other Securities | 0.6 | 1,802,630 | ||
3.5 | 11,487,847 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Transportation 2.9% | ||||
Other Securities | 2.9 | 9,565,540 | ||
Utilities 6.3% | ||||
Dominion Energy, Inc. | 18,933 | 0.5 | 1,521,077 | |
Duke Energy Corp. | 16,581 | 0.5 | 1,527,276 | |
NextEra Energy, Inc. | 44,212 | 1.0 | 3,236,761 | |
Other Securities | 4.3 | 14,602,694 | ||
6.3 | 20,887,808 | |||
Total Common Stock | ||||
(Cost $308,297,025) | 330,224,187 | |||
Other Investment Companies 0.4% of net assets | ||||
Equity Funds 0.1% | ||||
Other Securities | 0.1 | 303,498 | ||
Money Market Fund 0.2% | ||||
Other Securities | 0.2 | 686,767 | ||
Securities Lending Collateral 0.1% | ||||
Other Securities | 0.1 | 356,750 | ||
Total Other Investment Companies | ||||
(Cost $1,347,755) | 1,347,015 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 1000 Index, e-mini, expires 12/18/20 | 21 | 1,204,245 | (58,082) | |
S&P 500 Index, e-mini, expires 12/18/20 | 1 | 163,235 | (342) | |
Net Unrealized Depreciation | (58,424) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $349,151. |
(c) | The rate shown is the 7-day yield. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Dividends Received | |
The Charles Schwab Corp. | $293,723 | $937,495 | ($106,717) | ($15,581) | $220,989 | $1,329,909 | 32,350 | $8,996 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $330,224,187 | $— | $— | $330,224,187 | |
Other Investment Companies1 | 1,347,015 | — | — | 1,347,015 | |
Liabilities | |||||
Futures Contracts2 | (58,424) | — | — | (58,424) | |
Total | $331,512,778 | $— | $— | $331,512,778 |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $1,104,535) | $1,329,909 | |
Investments in unaffiliated issuers, at value (cost $308,183,495) including securities on loan of $349,151 | 329,884,543 | |
Collateral invested for securities on loan, at value (cost $356,750) | 356,750 | |
Deposit with broker for futures contracts | 106,000 | |
Receivables: | ||
Dividends | 482,685 | |
Fund shares sold | 410,843 | |
Income from securities on loan | + | 280 |
Total assets | 332,571,010 | |
Liabilities | ||
Collateral held for securities on loan | 356,750 | |
Payables: | ||
Investments bought | 93,390 | |
Investment adviser fees | 10,550 | |
Fund shares redeemed | 785,297 | |
Variation margin on futures contracts | + | 2,636 |
Total liabilities | 1,248,623 | |
Net Assets | ||
Total assets | 332,571,010 | |
Total liabilities | – | 1,248,623 |
Net assets | $331,322,387 | |
Net Assets by Source | ||
Capital received from investors | 329,958,653 | |
Total distributable earnings | 1,363,734 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$331,322,387 | 8,698,237 | $38.09 | ||
Investment Income | ||
Dividends received from affiliated issuer | $8,996 | |
Dividends received from unaffiliated issuers (net of foreign withholding tax of $316) | 7,062,218 | |
Securities on loan, net | + | 5,530 |
Total investment income | 7,076,744 | |
Expenses | ||
Investment adviser fees | 95,176 | |
Total expenses | – | 95,176 |
Net investment income | 6,981,568 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on affiliated issuer | (15,581) | |
Net realized losses on unaffiliated issuers | (24,809,148) | |
Net realized gains on futures contracts | + | 34,355 |
Net realized losses | (24,790,374) | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 220,989 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 6,994,920 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (58,390) |
Net change in unrealized appreciation (depreciation) | + | 7,157,519 |
Net realized and unrealized losses | (17,632,855) | |
Decrease in net assets resulting from operations | ($10,651,287) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $6,981,568 | $4,561,029 | ||
Net realized gains (losses) | (24,790,374) | 3,255,061 | ||
Net change in unrealized appreciation (depreciation) | + | 7,157,519 | 16,353,464 | |
Increase (decrease) in net assets from operations | (10,651,287) | 24,169,554 | ||
Distributions to Shareholders | ||||
Total distributions | ($9,633,049) | ($1,536,515) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 7,976,599 | $290,627,433 | 4,104,466 | $157,914,398 | ||||
Shares reinvested | 182,880 | 7,979,022 | 38,320 | 1,344,745 | ||||
Shares redeemed | + | (4,389,206) | (159,213,048) | (979,981) | (39,427,758) | |||
Net transactions in fund shares | 3,770,273 | $139,393,407 | 3,162,805 | $119,831,385 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 4,927,964 | $212,213,316 | 1,765,159 | $69,748,892 | ||||
Total increase | + | 3,770,273 | 119,109,071 | 3,162,805 | 142,464,424 | |||
End of period | 8,698,237 | $331,322,387 | 4,927,964 | $212,213,316 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 12/20/17 1– 10/31/18 | ||||
Per-Share Data | ||||||
Net asset value at beginning of period | $44.29 | $39.55 | $40.00 | |||
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.72 | 0.70 | 0.59 | |||
Net realized and unrealized gains (losses) | 1.09 | 4.54 | (1.04) | |||
Total from investment operations | 1.81 | 5.24 | (0.45) | |||
Less distributions: | ||||||
Distributions from net investment income | (0.64) | (0.42) | — | |||
Distributions from net realized gains | (0.48) | (0.08) | — | |||
Total distributions | (1.12) | (0.50) | — | |||
Net asset value at end of period | $44.98 | $44.29 | $39.55 | |||
Total return | 4.04% | 13.61% | (1.13%) 3 | |||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.04% | 0.04% 4 | 0.05% 5,6 | |||
Net operating expenses | N/A | N/A | 0.03% 5,6 | |||
Net investment income (loss) | 1.69% | 1.67% | 1.65% 5 | |||
Portfolio turnover rate | 29% | 21% | 15% 3 | |||
Net assets, end of period (x 1,000,000) | $483 | $357 | $171 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.4% of net assets | ||||
Automobiles & Components 1.1% | ||||
Aptiv plc | 16,414 | 0.3 | 1,583,787 | |
Ford Motor Co. | 239,016 | 0.4 | 1,847,594 | |
Other Securities | 0.4 | 1,975,578 | ||
1.1 | 5,406,959 | |||
Banks 2.7% | ||||
Other Securities | 2.7 | 13,283,859 | ||
Capital Goods 10.0% | ||||
Carrier Global Corp. | 53,224 | 0.4 | 1,777,149 | |
Cummins, Inc. | 9,034 | 0.4 | 1,986,486 | |
Johnson Controls International plc | 45,656 | 0.4 | 1,927,140 | |
PACCAR, Inc. | 20,786 | 0.4 | 1,774,709 | |
Parker-Hannifin Corp. | 7,845 | 0.3 | 1,634,584 | |
Rockwell Automation, Inc. | 7,104 | 0.3 | 1,684,500 | |
Stanley Black & Decker, Inc. | 9,449 | 0.3 | 1,570,424 | |
Trane Technologies plc | 14,641 | 0.4 | 1,943,593 | |
Other Securities | 7.1 | 33,879,204 | ||
10.0 | 48,177,789 | |||
Commercial & Professional Services 3.2% | ||||
Cintas Corp. | 5,409 | 0.4 | 1,701,401 | |
CoStar Group, Inc. * | 2,389 | 0.4 | 1,967,604 | |
IHS Markit Ltd. | 24,325 | 0.4 | 1,967,163 | |
Verisk Analytics, Inc. | 9,718 | 0.4 | 1,729,513 | |
Other Securities | 1.6 | 7,918,711 | ||
3.2 | 15,284,392 | |||
Consumer Durables & Apparel 3.2% | ||||
Lululemon Athletica, Inc. * | 6,963 | 0.5 | 2,223,216 | |
Other Securities | 2.7 | 13,185,682 | ||
3.2 | 15,408,898 | |||
Consumer Services 3.0% | ||||
Chipotle Mexican Grill, Inc. * | 1,707 | 0.4 | 2,050,926 | |
Other Securities | 2.6 | 12,388,895 | ||
3.0 | 14,439,821 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Diversified Financials 4.6% | ||||
MSCI, Inc. | 4,990 | 0.4 | 1,745,702 | |
T. Rowe Price Group, Inc. | 13,864 | 0.4 | 1,756,014 | |
Other Securities | 3.8 | 18,570,577 | ||
4.6 | 22,072,293 | |||
Energy 2.2% | ||||
Other Securities | 2.2 | 10,748,985 | ||
Food & Staples Retailing 0.5% | ||||
Other Securities | 0.5 | 2,560,087 | ||
Food, Beverage & Tobacco 2.9% | ||||
Other Securities | 2.9 | 13,981,353 | ||
Health Care Equipment & Services 7.3% | ||||
Align Technology, Inc. * | 4,784 | 0.4 | 2,038,367 | |
IDEXX Laboratories, Inc. * | 5,155 | 0.5 | 2,189,947 | |
ResMed, Inc. | 8,783 | 0.3 | 1,685,809 | |
Veeva Systems, Inc., Class A * | 8,187 | 0.5 | 2,210,899 | |
Zimmer Biomet Holdings, Inc. | 12,695 | 0.3 | 1,677,009 | |
Other Securities | 5.3 | 25,269,949 | ||
7.3 | 35,071,980 | |||
Household & Personal Products 0.8% | ||||
The Clorox Co. | 7,732 | 0.3 | 1,602,457 | |
Other Securities | 0.5 | 2,167,523 | ||
0.8 | 3,769,980 | |||
Insurance 3.4% | ||||
Other Securities | 3.4 | 16,613,871 | ||
Materials 5.5% | ||||
Ball Corp. | 19,548 | 0.4 | 1,739,772 | |
PPG Industries, Inc. | 14,456 | 0.4 | 1,875,232 | |
Other Securities | 4.7 | 22,839,174 | ||
5.5 | 26,454,178 | |||
Media & Entertainment 4.3% | ||||
Spotify Technology S.A. * | 8,023 | 0.4 | 1,924,637 | |
Twitter, Inc. * | 47,139 | 0.4 | 1,949,669 | |
Other Securities | 3.5 | 16,978,690 | ||
4.3 | 20,852,996 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Pharmaceuticals, Biotechnology & Life Sciences 6.0% | ||||
Agilent Technologies, Inc. | 18,958 | 0.4 | 1,935,422 | |
IQVIA Holdings, Inc. * | 11,651 | 0.4 | 1,794,138 | |
Other Securities | 5.2 | 25,232,929 | ||
6.0 | 28,962,489 | |||
Real Estate 6.9% | ||||
Other Securities | 6.9 | 33,231,663 | ||
Retailing 4.3% | ||||
AutoZone, Inc. * | 1,431 | 0.3 | 1,615,570 | |
O'Reilly Automotive, Inc. * | 4,486 | 0.4 | 1,958,588 | |
Other Securities | 3.6 | 17,102,879 | ||
4.3 | 20,677,037 | |||
Semiconductors & Semiconductor Equipment 3.5% | ||||
KLA Corp. | 9,514 | 0.4 | 1,875,971 | |
Xilinx, Inc. | 14,969 | 0.4 | 1,776,671 | |
Other Securities | 2.7 | 13,379,963 | ||
3.5 | 17,032,605 | |||
Software & Services 11.6% | ||||
ANSYS, Inc. * | 5,251 | 0.3 | 1,598,247 | |
Cadence Design Systems, Inc. * | 16,899 | 0.4 | 1,848,244 | |
DocuSign, Inc. * | 10,927 | 0.5 | 2,209,986 | |
Paychex, Inc. | 19,661 | 0.3 | 1,617,117 | |
Splunk, Inc. * | 9,744 | 0.4 | 1,929,702 | |
Synopsys, Inc. * | 9,175 | 0.4 | 1,962,165 | |
Twilio, Inc., Class A * | 8,394 | 0.5 | 2,341,674 | |
Other Securities | 8.8 | 42,320,992 | ||
11.6 | 55,828,127 | |||
Technology Hardware & Equipment 4.1% | ||||
Amphenol Corp., Class A | 17,692 | 0.4 | 1,996,365 | |
HP, Inc. | 87,711 | 0.3 | 1,575,290 | |
Motorola Solutions, Inc. | 10,423 | 0.3 | 1,647,459 | |
Other Securities | 3.1 | 14,438,141 | ||
4.1 | 19,657,255 | |||
Telecommunication Services 0.2% | ||||
Other Securities | 0.2 | 1,199,172 | ||
Transportation 2.2% | ||||
Other Securities | 2.2 | 10,656,139 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Utilities 5.9% | ||||
American Water Works Co., Inc. | 11,103 | 0.3 | 1,671,112 | |
Consolidated Edison, Inc. | 20,533 | 0.3 | 1,611,635 | |
Eversource Energy | 21,043 | 0.4 | 1,836,423 | |
Public Service Enterprise Group, Inc. | 30,965 | 0.4 | 1,800,615 | |
WEC Energy Group, Inc. | 19,356 | 0.4 | 1,946,246 | |
Xcel Energy, Inc. | 32,214 | 0.5 | 2,255,946 | |
Other Securities | 3.6 | 17,642,488 | ||
5.9 | 28,764,465 | |||
Total Common Stock | ||||
(Cost $433,487,343) | 480,136,393 | |||
Other Investment Companies 0.6% of net assets | ||||
Equity Funds 0.1% | ||||
Other Securities | 0.1 | 534,188 | ||
Money Market Fund 0.3% | ||||
Other Securities | 0.3 | 1,321,608 | ||
Securities Lending Collateral 0.2% | ||||
Other Securities | 0.2 | 1,047,925 | ||
Total Other Investment Companies | ||||
(Cost $2,904,664) | 2,903,721 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
S&P 400 Mid-Cap Index, e-mini, expires 12/18/20 | 12 | 2,274,720 | (107,774) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $1,016,695. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $445,064,413 | $— | $— | $445,064,413 | |
Health Care Equipment & Services | 34,663,817 | — | 408,163 | 35,071,980 | |
Other Investment Companies1 | 2,903,721 | — | — | 2,903,721 | |
Liabilities | |||||
Futures Contracts2 | (107,774) | — | — | (107,774) | |
Total | $482,524,177 | $— | $408,163 | $482,932,340 |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $435,344,082) including securities on loan of $1,016,695 | $481,992,189 | |
Collateral invested for securities on loan, at value (cost $1,047,925) | 1,047,925 | |
Deposit with broker for futures contracts | 175,500 | |
Receivables: | ||
Fund shares sold | 796,078 | |
Dividends | 234,190 | |
Income from securities on loan | + | 2,577 |
Total assets | 484,248,459 | |
Liabilities | ||
Collateral held for securities on loan | 1,047,925 | |
Payables: | ||
Investments bought | 43,308 | |
Investment adviser fees | 17,493 | |
Fund shares redeemed | 149,748 | |
Variation margin on futures contracts | + | 13,134 |
Total liabilities | 1,271,608 | |
Net Assets | ||
Total assets | 484,248,459 | |
Total liabilities | – | 1,271,608 |
Net assets | $482,976,851 | |
Net Assets by Source | ||
Capital received from investors | 445,422,545 | |
Total distributable earnings | 37,554,306 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$482,976,851 | 10,737,482 | $44.98 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $948) | $7,790,069 | |
Securities on loan, net | + | 30,924 |
Total investment income | 7,820,993 | |
Expenses | ||
Investment adviser fees | 181,186 | |
Total expenses | – | 181,186 |
Net investment income | 7,639,807 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (10,409,510) | |
Net realized gains on futures contracts | + | 617,857 |
Net realized losses | (9,791,653) | |
Net change in unrealized appreciation (depreciation) on investments | 20,499,049 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (104,189) |
Net change in unrealized appreciation (depreciation) | + | 20,394,860 |
Net realized and unrealized gains | 10,603,207 | |
Increase in net assets resulting from operations | $18,243,014 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $7,639,807 | $4,785,991 | ||
Net realized losses | (9,791,653) | (662,598) | ||
Net change in unrealized appreciation (depreciation) | + | 20,394,860 | 35,427,266 | |
Increase in net assets from operations | 18,243,014 | 39,550,659 | ||
Distributions to Shareholders | ||||
Total distributions | ($9,582,557) | ($2,951,274) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 7,486,752 | $310,557,071 | 6,140,825 | $247,965,349 | ||||
Shares reinvested | 166,927 | 7,635,275 | 76,761 | 2,670,904 | ||||
Shares redeemed | + | (4,967,958) | (200,471,749) | (2,496,685) | (101,917,905) | |||
Net transactions in fund shares | 2,685,721 | $117,720,597 | 3,720,901 | $148,718,348 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 8,051,761 | $356,595,797 | 4,330,860 | $171,278,064 | ||||
Total increase | + | 2,685,721 | 126,381,054 | 3,720,901 | 185,317,733 | |||
End of period | 10,737,482 | $482,976,851 | 8,051,761 | $356,595,797 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $20.48 | $19.00 | $21.01 | $17.52 | $18.49 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.47 | 0.64 | 0.62 | 0.55 | 0.53 | |
Net realized and unrealized gains (losses) | (1.75) | 1.39 | (2.06) | 3.49 | (1.03) | |
Total from investment operations | (1.28) | 2.03 | (1.44) | 4.04 | (0.50) | |
Less distributions: | ||||||
Distributions from net investment income | (0.64) | (0.55) | (0.57) | (0.55) | (0.47) | |
Net asset value at end of period | $18.56 | $20.48 | $19.00 | $21.01 | $17.52 | |
Total return | (6.56%) | 11.27% | (7.11%) | 23.76% | (2.64%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.06% | 0.06% | 0.06% | 0.11% 2 | 0.23% | |
Net operating expenses | N/A | N/A | N/A 3 | 0.10% 2 | 0.19% | |
Net investment income (loss) | 2.47% | 3.32% | 2.99% | 2.88% | 3.06% | |
Portfolio turnover rate | 7% | 5% | 5% | 3% | 4% | |
Net assets, end of period (x 1,000,000) | $5,937 | $5,443 | $4,314 | $4,128 | $2,900 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 98.7% of net assets | ||||
Australia 6.8% | ||||
BHP Group Ltd. | 1,318,528 | 0.5 | 31,607,261 | |
Commonwealth Bank of Australia | 793,999 | 0.6 | 38,549,866 | |
CSL Ltd. | 203,506 | 0.7 | 41,201,270 | |
Westpac Banking Corp. | 1,614,101 | 0.3 | 20,429,451 | |
Other Securities | 4.7 | 272,441,652 | ||
6.8 | 404,229,500 | |||
Austria 0.2% | ||||
Other Securities | 0.2 | 9,495,608 | ||
Belgium 0.9% | ||||
Other Securities | 0.9 | 56,306,882 | ||
Denmark 2.6% | ||||
Novo Nordisk A/S, Class B | 770,680 | 0.8 | 49,142,899 | |
Other Securities | 1.8 | 102,333,029 | ||
2.6 | 151,475,928 | |||
Finland 1.0% | ||||
Other Securities | 1.0 | 59,618,351 | ||
France 10.5% | ||||
Air Liquide S.A. | 211,543 | 0.5 | 30,935,683 | |
Kering S.A. | 33,897 | 0.3 | 20,484,503 | |
L'Oreal S.A. | 112,611 | 0.6 | 36,394,218 | |
LVMH Moet Hennessy Louis Vuitton SE | 124,438 | 1.0 | 58,330,025 | |
Sanofi | 505,958 | 0.8 | 45,684,637 | |
Schneider Electric SE | 247,382 | 0.5 | 30,058,500 | |
TOTAL SE | 1,109,150 | 0.6 | 33,603,594 | |
Other Securities | 6.2 | 367,546,309 | ||
10.5 | 623,037,469 | |||
Germany 8.4% | ||||
adidas AG * | 85,079 | 0.4 | 25,277,384 | |
Allianz SE | 186,907 | 0.6 | 32,924,527 | |
BASF SE | 412,205 | 0.4 | 22,571,598 | |
Bayer AG | 438,762 | 0.3 | 20,617,653 | |
Deutsche Telekom AG | 1,489,569 | 0.4 | 22,639,583 | |
SAP SE | 467,434 | 0.8 | 49,867,998 | |
Siemens AG | 342,762 | 0.7 | 40,211,478 | |
Other Securities | 4.8 | 283,514,123 | ||
8.4 | 497,624,344 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Hong Kong 3.4% | ||||
AIA Group Ltd. | 5,417,400 | 0.9 | 51,558,335 | |
Hong Kong Exchanges & Clearing Ltd. | 539,765 | 0.4 | 25,864,841 | |
Other Securities | 2.1 | 124,380,741 | ||
3.4 | 201,803,917 | |||
Ireland 0.7% | ||||
Other Securities | 0.7 | 42,872,191 | ||
Israel 0.6% | ||||
Other Securities | 0.6 | 35,952,656 | ||
Italy 2.2% | ||||
Enel S.p.A. | 3,636,304 | 0.5 | 28,910,444 | |
Other Securities | 1.7 | 99,049,100 | ||
2.2 | 127,959,544 | |||
Japan 26.4% | ||||
Daikin Industries Ltd. | 111,700 | 0.4 | 20,902,781 | |
Keyence Corp. | 81,600 | 0.6 | 37,031,916 | |
Mitsubishi UFJ Financial Group, Inc. | 5,488,909 | 0.4 | 21,636,756 | |
Nintendo Co., Ltd. | 49,939 | 0.5 | 27,001,455 | |
Recruit Holdings Co., Ltd. | 568,300 | 0.4 | 21,624,182 | |
Shin-Etsu Chemical Co., Ltd. | 158,060 | 0.4 | 21,111,561 | |
SoftBank Group Corp. | 702,000 | 0.8 | 45,723,908 | |
Sony Corp. | 564,700 | 0.8 | 47,077,019 | |
Takeda Pharmaceutical Co., Ltd. | 704,590 | 0.4 | 21,773,654 | |
Toyota Motor Corp. | 950,103 | 1.1 | 62,371,304 | |
Other Securities | 20.6 | 1,239,233,739 | ||
26.4 | 1,565,488,275 | |||
Netherlands 4.4% | ||||
ASML Holding N.V. | 190,496 | 1.2 | 68,922,001 | |
Prosus N.V. * | 217,776 | 0.4 | 21,741,874 | |
Unilever N.V. | 654,584 | 0.6 | 36,901,344 | |
Other Securities | 2.2 | 132,215,926 | ||
4.4 | 259,781,145 | |||
New Zealand 0.3% | ||||
Other Securities | 0.3 | 19,146,079 | ||
Norway 0.5% | ||||
Other Securities | 0.5 | 32,012,665 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Portugal 0.2% | ||||
Other Securities | 0.2 | 9,863,809 | ||
Singapore 1.0% | ||||
Other Securities | 1.0 | 61,941,845 | ||
Spain 2.2% | ||||
Iberdrola S.A. | 2,663,602 | 0.5 | 31,450,684 | |
Other Securities | 1.7 | 100,853,812 | ||
2.2 | 132,304,496 | |||
Sweden 3.3% | ||||
Other Securities | 3.3 | 194,935,484 | ||
Switzerland 10.1% | ||||
Nestle S.A. | 1,332,710 | 2.5 | 149,900,407 | |
Novartis AG | 993,909 | 1.3 | 77,447,953 | |
Roche Holding AG | 314,600 | 1.7 | 101,090,840 | |
Zurich Insurance Group AG | 67,397 | 0.4 | 22,385,615 | |
Other Securities | 4.2 | 251,633,495 | ||
10.1 | 602,458,310 | |||
United Kingdom 13.0% | ||||
AstraZeneca plc | 587,537 | 1.0 | 58,991,928 | |
BP plc | 9,098,280 | 0.4 | 23,206,830 | |
British American Tobacco plc | 1,024,938 | 0.5 | 32,485,790 | |
Diageo plc | 1,044,131 | 0.6 | 33,744,065 | |
GlaxoSmithKline plc | 2,248,150 | 0.6 | 37,540,685 | |
HSBC Holdings plc * | 9,122,150 | 0.6 | 38,227,214 | |
Reckitt Benckiser Group plc | 317,104 | 0.5 | 27,933,218 | |
Rio Tinto plc | 502,453 | 0.5 | 28,419,425 | |
Royal Dutch Shell plc, A Shares | 1,840,483 | 0.4 | 23,152,318 | |
Unilever plc | 522,149 | 0.5 | 29,756,653 | |
Other Securities | 7.4 | 439,917,229 | ||
13.0 | 773,375,355 | |||
Total Common Stock | ||||
(Cost $5,183,940,803) | 5,861,683,853 | |||
Preferred Stock 0.6% of net assets | ||||
Germany 0.6% | ||||
Other Securities | 0.6 | 33,156,426 | ||
Total Preferred Stock | ||||
(Cost $30,108,759) | 33,156,426 | |||
Rights 0.0% of net assets | ||||
Singapore 0.0% | ||||
Other Securities | 0.0 | — | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
United Kingdom 0.0% | ||||
Other Securities | 0.0 | 1,479,160 | ||
Total Rights | ||||
(Cost $4,351,445) | 1,479,160 | |||
Other Investment Company 0.1% of net assets | ||||
United States 0.1% | ||||
Securities Lending Collateral 0.1% | ||||
Other Securities | 0.1 | 6,847,633 | ||
Total Other Investment Company | ||||
(Cost $6,847,633) | 6,847,633 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.1% of net assets | ||||
Time Deposits 0.1% | ||||
Other Securities | 0.1 | 6,922,042 | ||
Total Short-Term Investments | ||||
(Cost $6,922,042) | 6,922,042 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI EAFE Index, expires 12/18/20 | 406 | 36,213,170 | (1,705,238) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $5,890,477. |
(c) | Securities are traded on separate exchanges for the same entity. |
(d) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Rate is negative due to the current daily overnight rate at the central bank of the denominated currency and therefore is non-income producing. |
ADR — | American Depositary Receipt |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $— | $1,207,859,717 | $— | $1,207,859,717 | |
Australia | — | 401,971,363 | 2,258,137 | 404,229,500 | |
Belgium | 1,545,564 | 54,761,318 | — | 56,306,882 | |
Denmark | 13,357,054 | 138,118,874 | — | 151,475,928 | |
France | 4,808,763 | 618,228,706 | — | 623,037,469 | |
Germany | 13,284,712 | 484,339,632 | — | 497,624,344 | |
Hong Kong | 6,890,443 | 194,913,474 | — | 201,803,917 | |
Ireland | 5,959,742 | 36,912,449 | — | 42,872,191 | |
Israel | 17,410,289 | 18,542,367 | — | 35,952,656 | |
Japan | 1,727,017 | 1,563,761,258 | — | 1,565,488,275 | |
Netherlands | 6,289,582 | 253,491,563 | — | 259,781,145 | |
Norway | 1,664,276 | 30,348,389 | — | 32,012,665 | |
Portugal | — | 9,863,809 | — * | 9,863,809 | |
United Kingdom | — | 773,359,755 | 15,600 | 773,375,355 | |
Preferred Stock1 | — | 33,156,426 | — | 33,156,426 | |
Rights | |||||
Singapore | — | — | — * | — | |
United Kingdom | 1,479,160 | — | — | 1,479,160 | |
Other Investment Company1 | 6,847,633 | — | — | 6,847,633 | |
Short-Term Investments1 | — | 6,922,042 | — | 6,922,042 | |
Liabilities | |||||
Futures Contracts2 | (1,705,238) | — | — | (1,705,238) | |
Total | $79,558,997 | $5,826,551,142 | $2,273,737 | $5,908,383,876 |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2020. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $5,225,323,049) including securities on loan of $5,890,477 | $5,903,241,481 | |
Collateral invested for securities on loan, at value (cost $6,847,633) | 6,847,633 | |
Deposit with broker for futures contracts | 2,993,760 | |
Receivables: | ||
Investments sold | 3,741,894 | |
Dividends | 14,507,276 | |
Fund shares sold | 10,178,586 | |
Foreign tax reclaims | 9,414,673 | |
Income from securities on loan | + | 25,639 |
Total assets | 5,950,950,942 | |
Liabilities | ||
Collateral held for securities on loan | 6,847,633 | |
Payables: | ||
Investments bought | 3,017,004 | |
Investment adviser fees | 326,495 | |
Fund shares redeemed | 3,077,265 | |
Variation margin on futures contracts | + | 190,527 |
Total liabilities | 13,458,924 | |
Net Assets | ||
Total assets | 5,950,950,942 | |
Total liabilities | – | 13,458,924 |
Net assets | $5,937,492,018 | |
Net Assets by Source | ||
Capital received from investors | 5,576,714,080 | |
Total distributable earnings | 360,777,938 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$5,937,492,018 | 319,898,201 | $18.56 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $14,713,020) | $133,750,062 | |
Income from non-cash dividends | 9,085,074 | |
Interest | 44,303 | |
Securities on loan, net | + | 797,929 |
Total investment income | 143,677,368 | |
Expenses | ||
Investment adviser fees | 3,421,849 | |
Professional fees | + | 37,098* |
Total expenses | 3,458,947 | |
Expense reduction by CSIM | – | 37,098* |
Net expenses | – | 3,421,849 |
Net investment income | 140,255,519 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (166,722,849) | |
Net realized losses on futures contracts | (4,249,319) | |
Net realized losses on foreign currency transactions | + | (741,956) |
Net realized losses | (171,714,124) | |
Net change in unrealized appreciation (depreciation) on investments | (259,943,014) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (2,550,688) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 542,350 |
Net change in unrealized appreciation (depreciation) | + | (261,951,352) |
Net realized and unrealized losses | (433,665,476) | |
Decrease in net assets resulting from operations | ($293,409,957) |
* | Professional fees associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2(d) and 4 for additional information. |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $140,255,519 | $161,653,306 | ||
Net realized losses | (171,714,124) | (81,047,333) | ||
Net change in unrealized appreciation (depreciation) | + | (261,951,352) | 450,579,679 | |
Increase (decrease) in net assets from operations | (293,409,957) | 531,185,652 | ||
Distributions to Shareholders | ||||
Total distributions | ($172,919,468) | ($132,253,839) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 137,962,023 | $2,458,528,501 | 101,475,911 | $1,918,826,792 | ||||
Shares reinvested | 6,184,493 | 127,647,953 | 5,815,026 | 99,611,394 | ||||
Shares redeemed | + | (90,042,895) | (1,625,600,717) | (68,493,022) | (1,288,104,681) | |||
Net transactions in fund shares | 54,103,621 | $960,575,737 | 38,797,915 | $730,333,505 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 265,794,580 | $5,443,245,706 | 226,996,665 | $4,313,980,388 | ||||
Total increase | + | 54,103,621 | 494,246,312 | 38,797,915 | 1,129,265,318 | |||
End of period | 319,898,201 | $5,937,492,018 | 265,794,580 | $5,443,245,706 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab S&P 500 Index Fund | Schwab Target 2040 Fund |
Schwab Small-Cap Index Fund | Schwab Target 2045 Fund |
Schwab Total Stock Market Index Fund | Schwab Target 2050 Fund |
Schwab U.S. Large-Cap Growth Index Fund | Schwab Target 2055 Fund |
Schwab U.S. Large-Cap Value Index Fund | Schwab Target 2060 Fund |
Schwab U.S. Mid-Cap Index Fund | Schwab Fundamental US Large Company Index Fund |
Schwab International Index Fund | Schwab Fundamental US Small Company Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Fundamental Global Real Estate Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2010 Index Fund |
Schwab Balanced Fund | Schwab Target 2015 Index Fund |
Schwab Core Equity Fund | Schwab Target 2020 Index Fund |
Schwab Dividend Equity Fund | Schwab Target 2025 Index Fund |
Schwab Large-Cap Growth Fund | Schwab Target 2030 Index Fund |
Schwab Small-Cap Equity Fund | Schwab Target 2035 Index Fund |
Schwab Hedged Equity Fund | Schwab Target 2040 Index Fund |
Schwab Health Care Fund | Schwab Target 2045 Index Fund |
Schwab International Core Equity Fund | Schwab Target 2050 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2020 Fund | Schwab Monthly Income Fund – Moderate Payout |
Schwab Target 2025 Fund | Schwab Monthly Income Fund – Enhanced Payout |
Schwab Target 2030 Fund | Schwab Monthly Income Fund – Maximum Payout |
Schwab Target 2035 Fund | |
SCHWAB INVESTMENTS (ORGANIZED OCTOBER 26, 1990) | |
Schwab 1000 Index Fund | Schwab Tax-Free Bond Fund |
Schwab Treasury Inflation Protected Securities Index Fund | Schwab California Tax-Free Bond Fund |
Schwab U.S. Aggregate Bond Index Fund | Schwab High Yield Municipal Bond Fund |
Schwab Short-Term Bond Index Fund | Schwab Global Real Estate Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab U.S. Large-Cap Growth Index Fund | Schwab U.S. Large-Cap Value Index Fund | Schwab U.S. Mid-Cap Index Fund | Schwab International Index Fund |
0.02% | 0.05% | 0.04% | 0.03% | 0.035% | 0.035% | 0.04% | 0.06% |
Underlying Funds | |||||
Schwab S&P 500 Index Fund | Schwab Small-Cap Index Fund | Schwab U.S. Large-Cap Growth Index Fund | Schwab U.S. Mid-Cap Index Fund | Schwab International Index Fund | |
Schwab MarketTrack All Equity Portfolio | 0.4% | 1.6% | 6.4% | —% | 1.4% |
Schwab MarketTrack Balanced Portfolio | 0.2% | 0.8% | 3.3% | —% | 0.6% |
Schwab MarketTrack Conservative Portfolio | 0.1% | 0.3% | 1.2% | —% | 0.2% |
Schwab MarketTrack Growth Portfolio | 0.5% | 1.7% | 5.2% | —% | 1.2% |
Schwab Target 2010 Fund | 0.0%* | —% | —% | 0.1% | —% |
Schwab Target 2015 Fund | 0.0%* | —% | —% | 0.1% | —% |
Schwab Target 2020 Fund | 0.1% | —% | —% | 0.9% | —% |
Schwab Target 2025 Fund | 0.2% | —% | —% | 1.4% | —% |
Schwab Target 2030 Fund | 0.3% | —% | —% | 2.4% | —% |
Schwab Target 2035 Fund | 0.2% | —% | —% | 1.5% | —% |
Schwab Target 2040 Fund | 0.3% | —% | —% | 3.2% | —% |
Schwab Target 2045 Fund | 0.1% | —% | —% | 0.6% | —% |
Schwab Target 2050 Fund | 0.1% | —% | —% | 0.6% | —% |
Schwab Target 2055 Fund | 0.0%* | —% | —% | 0.4% | —% |
Schwab Target 2060 Fund | 0.0%* | —% | —% | 0.1% | —% |
* | Less than 0.05% |
Total Aggregate Transactions | Realized Gains (Losses) | |
Schwab S&P 500 Index Fund | $448,719,008 | ($30,147,012) |
Schwab 1000 Index Fund | 168,360,448 | 28,715,127 |
Schwab Small-Cap Index Fund | 92,871,145 | (11,738,204) |
Schwab Total Stock Market Index Fund | 152,380,599 | (23,064,132) |
Schwab U.S. Large-Cap Growth Index Fund | 61,408,968 | (3,005,199) |
Schwab U.S. Large-Cap Value Index Fund | 60,679,072 | (566,260) |
Schwab U.S. Mid-Cap Index Fund | 30,988,721 | (4,440,043) |
Schwab International Index Fund | 9,325,639 | (2,176,395) |
5. Board of Trustees:
6. Borrowing from Banks:
7. Derivatives:
Notional Amounts | Number of Contracts | |
Schwab S&P 500 Index Fund | $169,972,343 | 1,099 |
Schwab 1000 Index Fund | 30,491,298 | 196 |
Schwab Small-Cap Index Fund | 17,654,672 | 242 |
Schwab Total Stock Market Index Fund | 48,355,711 | 359 |
Schwab U.S. Large-Cap Growth Index Fund | 1,596,768 | 16 |
Schwab U.S. Large-Cap Value Index Fund | 1,251,215 | 21 |
Schwab U.S. Mid-Cap Index Fund | 1,904,547 | 11 |
Schwab International Index Fund | 34,885,241 | 388 |
8. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities | |
Schwab S&P 500 Index Fund | $2,754,606,077 | $1,769,182,368 |
Schwab 1000 Index Fund | 344,582,891 | 666,920,752 |
Schwab Small-Cap Index Fund | 848,379,644 | 851,080,072 |
Schwab Total Stock Market Index Fund | 862,924,648 | 417,298,633 |
Schwab U.S. Large-Cap Growth Index Fund | 372,824,528 | 138,714,079 |
Schwab U.S. Large-Cap Value Index Fund | 274,028,025 | 135,725,291 |
Schwab U.S. Mid-Cap Index Fund | 247,687,257 | 127,707,214 |
Schwab International Index Fund | 1,287,465,490 | 376,546,823 |
9. Federal Income Taxes:
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab U.S. Large-Cap Growth Index Fund | |||||
Tax cost | $20,994,325,511 | $2,546,627,985 | $3,383,267,705 | $6,598,856,301 | $374,201,023 | ||||
Gross unrealized appreciation | $24,820,020,911 | $7,436,920,050 | $1,310,999,799 | $5,533,184,724 | $126,539,263 | ||||
Gross unrealized depreciation | (1,731,118,417) | (216,522,772) | (647,745,167) | (652,898,091) | (11,803,251) | ||||
Net unrealized appreciation (depreciation) | $23,088,902,494 | $7,220,397,278 | $663,254,632 | $4,880,286,633 | $114,736,012 |
Schwab U.S. Large-Cap Value Index Fund | Schwab U.S. Mid-Cap Index Fund | Schwab International Index Fund | |||
Tax cost | $334,833,790 | $448,373,995 | $5,463,982,136 | ||
Gross unrealized appreciation | $39,111,681 | $90,388,626 | $1,445,722,017 | ||
Gross unrealized depreciation | (42,432,693) | (55,830,281) | (1,001,320,277) | ||
Net unrealized appreciation (depreciation) | ($3,321,012) | $34,558,345 | $444,401,740 |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab U.S. Large-Cap Growth Index Fund | |||||
Undistributed ordinary income | $738,207,831 | $152,829,210 | $39,685,604 | $173,485,433 | $2,759,338 | ||||
Undistributed long-term capital gains | — | 117,102,344 | 72,778,268 | — | — | ||||
Net unrealized appreciation (depreciation) on investments | 23,088,902,494 | 7,220,397,278 | 663,254,632 | 4,880,286,633 | 114,736,012 | ||||
Net other unrealized appreciation (depreciation) | — | — | — | — | — | ||||
Total | $23,827,110,325 | $7,490,328,832 | $775,718,504 | $5,053,772,066 | $117,495,350 |
Schwab U.S. Large-Cap Value Index Fund | Schwab U.S. Mid-Cap Index Fund | Schwab International Index Fund | |||
Undistributed ordinary income | $5,774,891 | $6,125,106 | $118,175,088 | ||
Undistributed long-term capital gains | — | — | — | ||
Net unrealized appreciation (depreciation) on investments | (3,321,012) | 34,558,345 | 444,401,740 | ||
Net other unrealized appreciation (depreciation) | — | — | 573,654 | ||
Total | $2,453,879 | $40,683,451 | $563,150,482 |
Expiration Date | Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab U.S. Large-Cap Growth Index Fund | ||||
No expiration | $177,404,555 | $— | $— | $21,117,724 | $5,572,385 | ||||
Total | $177,404,555 | $— | $— | $21,117,724 | $5,572,385 |
Expiration Date | Schwab U.S. Large-Cap Value Index Fund | Schwab U.S. Mid-Cap Index Fund | Schwab International Index Fund | ||
No expiration | $1,090,145 | $3,129,145 | $202,372,544 | ||
Total | $1,090,145 | $3,129,145 | $202,372,544 |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab U.S. Large-Cap Growth Index Fund | |
Current fiscal year end distributions | |||||
Ordinary income | $752,543,848 | $175,073,765 | $71,467,544 | $180,871,651 | $1,890,344 |
Long-term capital gains | 76,711,728 | 115,680,278 | 187,516,879 | 26,277,147 | — |
Prior fiscal year end distributions | |||||
Ordinary income | $696,643,335 | $157,630,133 | $75,407,201 | $163,508,663 | $949,803 |
Long-term capital gains | 138,486,140 | 287,803,474 | 256,270,995 | 35,933,416 | — |
Schwab U.S. Large-Cap Value Index Fund | Schwab U.S. Mid-Cap Index Fund | Schwab International Index Fund | |
Current fiscal year end distributions | |||
Ordinary income | $7,613,944 | $7,422,021 | $172,919,468 |
Long-term capital gains | 2,019,105 | 2,160,536 | — |
Prior fiscal year end distributions | |||
Ordinary income | $1,536,515 | $2,937,860 | $132,253,839 |
Long-term capital gains | — | 13,414 | — |
10. Independent Registered Public Accounting Firm:
Denver, Colorado
December 16, 2020
Percentage | |
Schwab S&P 500 Index Fund | 91.09 |
Schwab 1000 Index Fund | 90.97 |
Schwab Small-Cap Index Fund | 62.00 |
Schwab Total Stock Market Index Fund | 88.23 |
Schwab U.S. Large-Cap Growth Index Fund | 95.14 |
Schwab U.S. Large-Cap Value Index Fund | 64.73 |
Schwab U.S. Mid-Cap Index Fund | 61.70 |
Schwab International Index Fund | — |
Schwab S&P 500 Index Fund | $752,543,848 |
Schwab 1000 Index Fund | 166,557,709 |
Schwab Small-Cap Index Fund | 44,664,481 |
Schwab Total Stock Market Index Fund | 168,043,272 |
Schwab U.S. Large-Cap Growth Index Fund | 1,830,390 |
Schwab U.S. Large-Cap Value Index Fund | 5,059,613 |
Schwab U.S. Mid-Cap Index Fund | 4,903,160 |
Schwab International Index Fund | 162,726,986 |
Schwab S&P 500 Index Fund | $76,711,728 |
Schwab 1000 Index Fund | 115,680,278 |
Schwab Small-Cap Index Fund | 187,516,879 |
Schwab Total Stock Market Index Fund | 26,277,147 |
Schwab U.S. Large-Cap Growth Index Fund | — |
Schwab U.S. Large-Cap Value Index Fund | 2,019,105 |
Schwab U.S. Mid-Cap Index Fund | 2,160,536 |
Schwab International Index Fund | — |
1. | the nature, extent and quality of the services provided to each Fund under the Agreements, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | each Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreements reflect those economies of scale for the benefit of Fund investors. |
1 | The meeting on June 9, 2020 was held telephonically in reliance on exemptive relief from the in-person voting requirement under the 1940 Act as provided by the Securities and Exchange Commission. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 100 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 100 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 100 | None |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting). | 100 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 100 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 100 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 100 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 100 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors). | 100 | Director (2012 – present), Eaton Corporation plc |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 100 | Director (2008 – present), The Charles Schwab Corporation |
Interested Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jonathan de St. Paer2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. | 100 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 100 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Mr. de St. Paer and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
US Large Company Index Fund
US Small Company Index Fund
Large Company Index Fund
Small Company Index Fund
Large Company Index Fund
New Notice Regarding Shareholder Report Delivery Options |
Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/schwabfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically. |
If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request: |
• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing; |
• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or |
• If owned directly through a fund by calling 1-800-407-0256. |
If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action. |
* | SCHWAB is a registered trademark of Charles Schwab & Co., Inc. FUNDAMENTAL INDEX is a registered trademark of Research Affiliates LLC. |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab Fundamental US Large Company Index Fund (Ticker Symbol: SFLNX) | -2.33% |
Russell RAFITM US Large Company Index | -2.20% |
Russell 1000® Index | 10.87% |
Fund Category: Morningstar Large Value1 | -7.37% |
Performance Details | pages 7-9 |
Schwab Fundamental US Small Company Index Fund (Ticker Symbol: SFSNX) | -10.42% |
Russell RAFITM US Small Company Index | -10.42% |
Russell 2000® Index | -0.14% |
Fund Category: Morningstar Small Blend1 | -6.45% |
Performance Details | pages 10-12 |
Schwab Fundamental International Large Company Index Fund2 (Ticker Symbol: SFNNX) | -13.29% |
Russell RAFITM Developed ex US Large Company Index (Net)3 | -13.77% |
MSCI EAFE® Index (Net)3 | -6.86% |
Fund Category: Morningstar Foreign Large Value1 | -13.04% |
Performance Details | pages 13-15 |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab Fundamental International Small Company Index Fund2 (Ticker Symbol: SFILX) | -6.28% |
Russell RAFITM Developed ex US Small Company Index (Net)3 | -6.49% |
S&P Developed ex-U.S. Small Cap Index (Net)3 | -0.53% |
Fund Category: Morningstar Foreign Small/Mid Blend1 | -1.99% |
Performance Details | pages 16-18 |
Schwab Fundamental Emerging Markets Large Company Index Fund2 (Ticker Symbol: SFENX) | -15.79% 4 |
Russell RAFITM Emerging Markets Large Company Index (Net)3 | -15.28% |
MSCI Emerging Markets Index (Net)3 | 8.25% |
Fund Category: Morningstar Diversified Emerging Markets1 | 6.67% |
Performance Details | pages 19-21 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
2 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | Total return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the net asset value (NAV) at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual and semiannual reports. |
President of Charles Schwab
Investment Management, Inc.
and the funds covered
in this report.
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Christopher Bliss, CFA, Vice President and Head of Passive Equity Strategies, leads the portfolio management team for Schwab’s passive equity mutual funds and ETFs. He also has overall responsibility for all aspects of the management of the funds. Before joining CSIM in 2016, Mr. Bliss spent 12 years at BlackRock (formerly Barclays Global Investors) managing and leading institutional index teams, most recently as a managing director and the head of the Americas institutional index team. Prior to BlackRock, he worked as an equity analyst and portfolio manager for Harris Bretall and before that, as a research analyst for JP Morgan. |
Jeremy Brown, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental US Large Company Index Fund and Schwab Fundamental US Small Company Index Fund. Prior to joining CSIM in 2017, Mr. Brown spent six years with ALPS Advisors, Inc. in Denver, most recently as a senior analyst on the ETF portfolio management and research team where he performed portfolio management, trading, and analytics/research functions for ALPS ETFs and passive funds. Additionally, Mr. Brown led a number of investment research, commentary, industry trend analysis, and sales and marketing support initiatives. |
Chuck Craig, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund, and Schwab Fundamental Emerging Markets Large Company Index Fund. Prior to joining CSIM in 2012, Mr. Craig worked at Guggenheim Funds (formerly Claymore Group), where he spent more than five years as a managing director of portfolio management and supervision, and three years as vice president of product research and development. Prior to that, he worked as an equity research analyst at First Trust Portfolios (formerly Niké Securities), and a trader and analyst at PMA Securities, Inc. |
Ferian Juwono, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental US Large Company Index Fund and Schwab Fundamental US Small Company Index Fund. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors) where he spent more than three years as a portfolio manager, managing equity index funds for institutional clients, and two years as a senior business analyst. Prior to that, Mr. Juwono worked for more than four years as a senior financial analyst with Union Bank of California. |
Jane Qin, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund, and Schwab Fundamental Emerging Markets Large Company Index Fund. Prior to joining CSIM in 2012, Ms. Qin spent more than four years at The Bank of New York Mellon Corporation. During that time, Ms. Qin spent more than two years as an associate equity portfolio manager and nearly two years as a performance analyst. She also worked at Wells Fargo Funds Management as a mutual fund analyst and at CIGNA Reinsurance in the risk management group as a risk analyst. |
David Rios, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund, and Schwab Fundamental Emerging Markets Large Company Index Fund. Prior to this role, Mr. Rios was an associate portfolio manager on the Schwab equity index strategies team for four years. His first role with CSIM was as a trade operations specialist. Prior to joining CSIM in 2008, Mr. Rios was a senior fund accountant at Investors Bank & Trust (subsequently acquired by State Street Corporation). |
Sabya Sinha, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental US Large Company Index Fund and Schwab Fundamental US Small Company Index Fund. Prior to joining CSIM in 2015, Mr. Sinha spent a year at F-Squared Investments on the product development and analytics team. Prior to F-Squared, he worked at IndexIQ Advisors as a senior index portfolio manager for three years and for Bank of America’s Columbia Management subsidiary as a portfolio manager for three years. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Fundamental US Large Company Index Fund (4/2/07) | -2.33% | 7.84% | 10.57% |
Russell RAFITM US Large Company Index2 | -2.20% | 8.09% | N/A |
Fundamental U.S. Large Company Spliced Index | -2.20% | 8.09% | 10.90% |
Russell 1000® Index | 10.87% | 11.79% | 13.05% |
Fund Category: Morningstar Large Value3 | -7.37% | 5.38% | 8.64% |
Fund Expense Ratio4: 0.25% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The inception date of the Russell RAFITM US Large Company Index is February 24, 2011. The fund began tracking the index on October 19, 2012. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. |
Number of Holdings | 709 |
Weighted Average Market Cap (millions) | $255,999 |
Price/Earnings Ratio (P/E) | 19.4 |
Price/Book Ratio (P/B) | 1.9 |
Portfolio Turnover Rate | 13% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Fundamental US Small Company Index Fund (4/2/07) | -10.42% | 4.65% | 8.57% |
Russell RAFITM US Small Company Index2 | -10.42% | 4.83% | N/A |
Fundamental U.S. Small Company Spliced Index | -10.42% | 4.83% | 8.85% |
Russell 2000® Index | -0.14% | 7.27% | 9.64% |
Fund Category: Morningstar Small Blend3 | -6.45% | 5.00% | 8.48% |
Fund Expense Ratio4: 0.25% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The inception date of the Russell RAFITM US Small Company Index is February 24, 2011. The fund began tracking the index on October 19, 2012. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. |
Number of Holdings | 933 |
Weighted Average Market Cap (millions) | $6,079 |
Price/Earnings Ratio (P/E) | 17.7 |
Price/Book Ratio (P/B) | 1.4 |
Portfolio Turnover Rate | 28% |
1 | Excludes derivatives. |
2 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
3 | This list is not a recommendation of any security by the investment adviser. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Fundamental International Large Company Index Fund (4/2/07) | -13.29% | 1.46% | 2.41% |
Russell RAFITM Developed ex US Large Company Index (Net)2,3 | -13.77% | 1.38% | N/A |
Fundamental Developed ex-U.S. Large Company Spliced Index | -13.77% | 1.38% | 2.63% |
MSCI EAFE® Index (Net)3 | -6.86% | 2.85% | 3.82% |
Fund Category: Morningstar Foreign Large Value5 | -13.04% | 0.43% | 1.78% |
Fund Expense Ratio6: 0.25% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The inception date of the Russell RAFITM Developed ex US Large Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | The fund’s performance relative to the index may be affected by fair-value pricing. See financial note 2 for more information. |
5 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
6 | As stated in the prospectus. |
Number of Holdings | 945 |
Weighted Average Market Cap (millions) | $52,167 |
Price/Earnings Ratio (P/E) | 14.6 |
Price/Book Ratio (P/B) | 0.9 |
Portfolio Turnover Rate | 14% |
1 | Excludes derivatives. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Fundamental International Small Company Index Fund (1/31/08) | -6.28% | 3.81% | 5.02% |
Russell RAFITM Developed ex US Small Company Index (Net)2,3 | -6.49% | 3.94% | N/A |
Fundamental Developed ex-U.S. Small Company Spliced Index | -6.49% | 3.94% | 5.47% |
S&P Developed ex-U.S. Small Cap Index (Net)3 | -0.53% | 4.93% | 5.76% |
Fund Category: Morningstar Foreign Small/Mid Blend5 | -1.99% | 3.84% | 4.88% |
Fund Expense Ratio6: 0.39% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The inception date of the Russell RAFITM Developed ex US Small Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | The fund’s performance relative to the index may be affected by fair-value pricing. See financial note 2 for more information. |
5 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
6 | As stated in the prospectus. |
Number of Holdings | 1,618 |
Weighted Average Market Cap (millions) | $3,681 |
Price/Earnings Ratio (P/E) | 14.0 |
Price/Book Ratio (P/B) | 0.9 |
Portfolio Turnover Rate | 25% |
1 | Excludes derivatives. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
1 | Total return for the report period above differs from the return in the Financial Highlights. The total return presented above is calculated based on the net asset value (NAV) at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual and semiannual reports. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Fundamental Emerging Markets Large Company Index Fund (1/31/08) | -15.79% 5 | 5.37% | -0.52% |
Russell RAFITM Emerging Markets Large Company Index (Net)2,3 | -15.28% | 5.98% | N/A |
Fundamental Emerging Markets Large Company Spliced Index | -15.28% | 5.98% | 0.38% |
MSCI Emerging Markets Index (Net)3 | 8.25% | 7.92% | 2.42% |
Fund Category: Morningstar Diversified Emerging Markets6 | 6.67% | 7.05% | 2.30% |
Fund Expense Ratio7: 0.39% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | The inception date of the Russell RAFITM Emerging Markets Large Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | The fund’s performance relative to the index may be affected by fair-value pricing. See financial note 2 for more information. |
5 | Total return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the net asset value (NAV) at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual and semiannual reports. |
6 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
7 | As stated in the prospectus. |
Number of Holdings | 328 |
Weighted Average Market Cap (millions) | $88,969 |
Price/Earnings Ratio (P/E) | 10.3 |
Price/Book Ratio (P/B) | 0.9 |
Portfolio Turnover Rate | 32% |
1 | Excludes derivatives. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/20 | Ending Account Value (Net of Expenses) at 10/31/20 | Expenses Paid During Period 5/1/20-10/31/202 | |
Schwab Fundamental US Large Company Index Fund | ||||
Actual Return | 0.25% | $1,000.00 | $1,100.00 | $1.32 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.84 | $1.27 |
Schwab Fundamental US Small Company Index Fund | ||||
Actual Return | 0.25% | $1,000.00 | $1,149.90 | $1.35 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.84 | $1.27 |
Schwab Fundamental International Large Company Index Fund | ||||
Actual Return | 0.25% | $1,000.00 | $1,080.60 | $1.31 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.84 | $1.27 |
Schwab Fundamental International Small Company Index Fund | ||||
Actual Return | 0.39% | $1,000.00 | $1,129.10 | $2.09 |
Hypothetical 5% Return | 0.39% | $1,000.00 | $1,023.14 | $1.98 |
Schwab Fundamental Emerging Markets Large Company Index Fund | ||||
Actual Return | 0.39% | $1,000.00 | $1,060.70 | $2.02 |
Hypothetical 5% Return | 0.39% | $1,000.00 | $1,023.14 | $1.98 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by 366 days of the fiscal year. |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $17.56 | $17.47 | $16.89 | $15.12 | $15.14 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.42 | 0.42 | 0.38 | 0.35 | 0.34 | |
Net realized and unrealized gains (losses) | (0.75) | 1.08 | 0.76 | 2.52 | 0.44 | |
Total from investment operations | (0.33) | 1.50 | 1.14 | 2.87 | 0.78 | |
Less distributions: | ||||||
Distributions from net investment income | (0.43) | (0.42) | (0.36) | (0.34) | (0.34) | |
Distributions from net realized gains | (0.52) | (0.99) | (0.20) | (0.76) | (0.46) | |
Total distributions | (0.95) | (1.41) | (0.56) | (1.10) | (0.80) | |
Net asset value at end of period | $16.28 | $17.56 | $17.47 | $16.89 | $15.12 | |
Total return | (2.33%) | 10.56% | 6.83% | 19.69% | 5.61% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.31% 2 | 0.39% | |
Net operating expenses | N/A | N/A | N/A 3 | 0.30% 2 | 0.35% | |
Net investment income (loss) | 2.57% | 2.53% | 2.17% | 2.19% | 2.33% | |
Portfolio turnover rate | 13% | 20% | 10% | 15% | 11% | |
Net assets, end of period (x 1,000,000) | $4,547 | $5,237 | $4,887 | $5,367 | $4,569 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.7% of net assets | ||||
Automobiles & Components 2.1% | ||||
Ford Motor Co. | 3,559,027 | 0.6 | 27,511,279 | |
General Motors Co. | 941,950 | 0.7 | 32,525,533 | |
Other Securities | 0.8 | 34,579,616 | ||
2.1 | 94,616,428 | |||
Banks 5.3% | ||||
Bank of America Corp. | 1,482,851 | 0.8 | 35,143,569 | |
Citigroup, Inc. | 837,980 | 0.8 | 34,709,132 | |
JPMorgan Chase & Co. | 644,713 | 1.4 | 63,207,662 | |
Wells Fargo & Co. | 1,841,026 | 0.9 | 39,490,008 | |
Other Securities | 1.4 | 66,913,004 | ||
5.3 | 239,463,375 | |||
Capital Goods 8.1% | ||||
3M Co. | 135,080 | 0.5 | 21,607,397 | |
General Electric Co. | 4,619,916 | 0.8 | 34,279,777 | |
Other Securities | 6.8 | 312,877,335 | ||
8.1 | 368,764,509 | |||
Commercial & Professional Services 0.6% | ||||
Other Securities | 0.6 | 28,611,408 | ||
Consumer Durables & Apparel 1.7% | ||||
Other Securities | 1.7 | 75,443,225 | ||
Consumer Services 1.9% | ||||
McDonald's Corp. | 116,695 | 0.5 | 24,856,035 | |
Other Securities | 1.4 | 60,981,303 | ||
1.9 | 85,837,338 | |||
Diversified Financials 5.2% | ||||
Berkshire Hathaway, Inc., Class A * | 65 | 0.4 | 19,662,501 | |
Berkshire Hathaway, Inc., Class B * | 202,279 | 0.9 | 40,840,130 | |
The Charles Schwab Corp. (a) | 129,130 | 0.1 | 5,308,534 | |
Other Securities | 3.8 | 171,370,758 | ||
5.2 | 237,181,923 | |||
Energy 5.7% | ||||
Chevron Corp. | 754,257 | 1.2 | 52,420,862 | |
Exxon Mobil Corp. | 2,315,175 | 1.7 | 75,521,009 | |
Other Securities | 2.8 | 132,529,611 | ||
5.7 | 260,471,482 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Food & Staples Retailing 3.2% | ||||
Costco Wholesale Corp. | 73,983 | 0.6 | 26,457,801 | |
Walmart, Inc. | 484,857 | 1.5 | 67,273,909 | |
Other Securities | 1.1 | 53,732,094 | ||
3.2 | 147,463,804 | |||
Food, Beverage & Tobacco 4.2% | ||||
PepsiCo, Inc. | 205,958 | 0.6 | 27,452,142 | |
Philip Morris International, Inc. | 321,359 | 0.5 | 22,822,916 | |
The Coca-Cola Co. | 503,136 | 0.5 | 24,180,716 | |
Other Securities | 2.6 | 117,143,151 | ||
4.2 | 191,598,925 | |||
Health Care Equipment & Services 5.9% | ||||
Anthem, Inc. | 76,928 | 0.5 | 20,985,958 | |
CVS Health Corp. | 572,306 | 0.7 | 32,100,644 | |
Medtronic plc | 201,187 | 0.4 | 20,233,377 | |
UnitedHealth Group, Inc. | 151,427 | 1.0 | 46,206,435 | |
Other Securities | 3.3 | 149,635,480 | ||
5.9 | 269,161,894 | |||
Household & Personal Products 1.7% | ||||
The Procter & Gamble Co. | 366,451 | 1.1 | 50,240,432 | |
Other Securities | 0.6 | 25,180,970 | ||
1.7 | 75,421,402 | |||
Insurance 3.4% | ||||
American International Group, Inc. | 715,795 | 0.5 | 22,540,385 | |
Other Securities | 2.9 | 132,074,903 | ||
3.4 | 154,615,288 | |||
Materials 3.7% | ||||
Other Securities | 3.7 | 165,857,163 | ||
Media & Entertainment 4.6% | ||||
Alphabet, Inc., Class A * | 18,196 | 0.6 | 29,406,738 | |
Alphabet, Inc., Class C * | 18,267 | 0.7 | 29,610,990 | |
Comcast Corp., Class A | 932,411 | 0.9 | 39,385,041 | |
Facebook, Inc., Class A * | 97,592 | 0.6 | 25,677,431 | |
The Walt Disney Co. | 300,482 | 0.8 | 36,433,442 | |
Other Securities | 1.0 | 50,361,684 | ||
4.6 | 210,875,326 | |||
Pharmaceuticals, Biotechnology & Life Sciences 6.0% | ||||
AbbVie, Inc. | 301,461 | 0.6 | 25,654,331 | |
Amgen, Inc. | 104,429 | 0.5 | 22,654,827 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Gilead Sciences, Inc. | 424,815 | 0.5 | 24,702,992 | |
Johnson & Johnson | 394,308 | 1.2 | 54,063,570 | |
Merck & Co., Inc. | 421,770 | 0.7 | 31,721,322 | |
Pfizer, Inc. | 1,343,885 | 1.0 | 47,681,040 | |
Other Securities | 1.5 | 68,416,443 | ||
6.0 | 274,894,525 | |||
Real Estate 1.9% | ||||
Other Securities | 1.9 | 87,531,452 | ||
Retailing 5.9% | ||||
Amazon.com, Inc. * | 9,033 | 0.6 | 27,425,543 | |
Lowe's Cos., Inc. | 144,036 | 0.5 | 22,772,092 | |
Target Corp. | 157,876 | 0.5 | 24,031,885 | |
The Home Depot, Inc. | 144,174 | 0.8 | 38,452,647 | |
Other Securities | 3.5 | 157,580,000 | ||
5.9 | 270,262,167 | |||
Semiconductors & Semiconductor Equipment 3.8% | ||||
Intel Corp. | 951,191 | 0.9 | 42,118,737 | |
QUALCOMM, Inc. | 266,669 | 0.7 | 32,896,288 | |
Other Securities | 2.2 | 97,841,841 | ||
3.8 | 172,856,866 | |||
Software & Services 6.4% | ||||
International Business Machines Corp. | 332,909 | 0.8 | 37,172,619 | |
Microsoft Corp. | 480,237 | 2.1 | 97,233,585 | |
Oracle Corp. | 471,646 | 0.6 | 26,464,057 | |
Other Securities | 2.9 | 129,155,108 | ||
6.4 | 290,025,369 | |||
Technology Hardware & Equipment 8.4% | ||||
Apple Inc. | 2,350,490 | 5.6 | 255,874,341 | |
Cisco Systems, Inc. | 938,540 | 0.7 | 33,693,586 | |
Other Securities | 2.1 | 91,514,024 | ||
8.4 | 381,081,951 | |||
Telecommunication Services 3.5% | ||||
AT&T, Inc. | 2,518,612 | 1.5 | 68,052,896 | |
Verizon Communications, Inc. | 1,190,105 | 1.5 | 67,824,084 | |
Other Securities | 0.5 | 22,661,028 | ||
3.5 | 158,538,008 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Transportation 2.7% | ||||
FedEx Corp. | 101,140 | 0.6 | 26,242,796 | |
Union Pacific Corp. | 134,785 | 0.5 | 23,882,554 | |
Other Securities | 1.6 | 71,880,872 | ||
2.7 | 122,006,222 | |||
Utilities 3.8% | ||||
Other Securities | 3.8 | 174,349,933 | ||
Total Common Stock | ||||
(Cost $3,097,661,049) | 4,536,929,983 | |||
Other Investment Companies 0.3% of net assets | ||||
Money Market Fund 0.0% | ||||
Other Securities | 0.0 | 1,383,897 | ||
Securities Lending Collateral 0.3% | ||||
Other Securities | 0.3 | 11,209,213 | ||
Total Other Investment Companies | ||||
(Cost $12,593,110) | 12,593,110 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
S&P 500 Index, e-mini, expires 12/18/20 | 59 | 9,630,865 | (541,323) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $10,257,993. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Dividends Received | |
The Charles Schwab Corp. | $3,126,284 | $1,927,465 | ($332,964) | ($81,281) | $669,030 | $5,308,534 | 129,130 | $57,346 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $4,536,929,983 | $— | $— | $4,536,929,983 | |
Other Investment Companies1 | 12,593,110 | — | — | 12,593,110 | |
Liabilities | |||||
Futures Contracts2 | (541,323) | — | — | (541,323) | |
Total | $4,548,981,770 | $— | $— | $4,548,981,770 |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $3,427,013) | $5,308,534 | |
Investments in unaffiliated issuers, at value (cost $3,095,617,933) including securities on loan of $10,257,993 | 4,533,005,346 | |
Collateral invested for securities on loan, at value (cost $11,209,213) | 11,209,213 | |
Deposit with broker for futures contracts | 756,000 | |
Receivables: | ||
Dividends | 6,444,001 | |
Fund shares sold | 5,535,089 | |
Income from securities on loan | + | 144,062 |
Total assets | 4,562,402,245 | |
Liabilities | ||
Collateral held for securities on loan | 11,209,213 | |
Payables: | ||
Investment adviser fees | 1,033,659 | |
Fund shares redeemed | 2,737,996 | |
Variation margin on futures contracts | + | 105,630 |
Total liabilities | 15,086,498 | |
Net Assets | ||
Total assets | 4,562,402,245 | |
Total liabilities | – | 15,086,498 |
Net assets | $4,547,315,747 | |
Net Assets by Source | ||
Capital received from investors | 2,950,727,321 | |
Total distributable earnings | 1,596,588,426 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,547,315,747 | 279,328,897 | $16.28 | ||
Investment Income | ||
Dividends received from affiliated issuer | $57,346 | |
Dividends received from unaffiliated issuers (net of foreign withholding tax of $9,266) | 134,149,459 | |
Securities on loan, net | + | 1,369,652 |
Total investment income | 135,576,457 | |
Expenses | ||
Investment adviser fees | 12,041,457 | |
Total expenses | – | 12,041,457 |
Net investment income | 123,535,000 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on sales of affiliated underlying funds | (81,281) | |
Net realized gains on unaffiliated issuers | 123,628,132 | |
Net realized losses on futures contracts | + | (1,662,657) |
Net realized gains | 121,884,194 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 669,030 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | (397,088,823) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (870,009) |
Net change in unrealized appreciation (depreciation) | + | (397,289,802) |
Net realized and unrealized losses | (275,405,608) | |
Decrease in net assets resulting from operations | ($151,870,608) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $123,535,000 | $124,374,648 | ||
Net realized gains | 121,884,194 | 126,461,116 | ||
Net change in unrealized appreciation (depreciation) | + | (397,289,802) | 245,896,113 | |
Increase (decrease) in net assets from operations | (151,870,608) | 496,731,877 | ||
Distributions to Shareholders | ||||
Total distributions | ($280,720,286) | ($384,906,616) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 65,360,142 | $1,034,311,318 | 72,965,468 | $1,170,251,181 | ||||
Shares reinvested | 9,908,434 | 175,775,620 | 17,039,769 | 240,260,741 | ||||
Shares redeemed | + | (94,170,173) | (1,467,566,455) | (71,475,046) | (1,171,686,052) | |||
Net transactions in fund shares | (18,901,597) | ($257,479,517) | 18,530,191 | $238,825,870 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 298,230,494 | $5,237,386,158 | 279,700,303 | $4,886,735,027 | ||||
Total increase or decrease | + | (18,901,597) | (690,070,411) | 18,530,191 | 350,651,131 | |||
End of period | 279,328,897 | $4,547,315,747 | 298,230,494 | $5,237,386,158 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $13.85 | $14.68 | $15.32 | $12.69 | $12.82 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.17 | 0.20 | 0.22 | 0.21 | 0.18 | |
Net realized and unrealized gains (losses) | (1.53) | 0.32 | 0.17 | 2.68 | 0.43 | |
Total from investment operations | (1.36) | 0.52 | 0.39 | 2.89 | 0.61 | |
Less distributions: | ||||||
Distributions from net investment income | (0.20) | (0.22) | (0.21) | (0.17) | (0.18) | |
Distributions from net realized gains | (0.32) | (1.13) | (0.82) | (0.09) | (0.56) | |
Total distributions | (0.52) | (1.35) | (1.03) | (0.26) | (0.74) | |
Net asset value at end of period | $11.97 | $13.85 | $14.68 | $15.32 | $12.69 | |
Total return | (10.42%) | 5.61% | 2.40% | 22.94% | 5.37% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.33% 2 | 0.43% | |
Net operating expenses | N/A | N/A | N/A 3 | 0.30% 2 | 0.35% | |
Net investment income (loss) | 1.43% | 1.50% | 1.42% | 1.43% | 1.50% | |
Portfolio turnover rate | 28% | 34% | 30% | 27% | 30% | |
Net assets, end of period (x 1,000,000) | $1,394 | $1,908 | $1,782 | $1,727 | $1,361 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.3% of net assets | ||||
Automobiles & Components 1.7% | ||||
Tesla, Inc. * | 12,646 | 0.4 | 4,907,154 | |
Other Securities | 1.3 | 18,466,985 | ||
1.7 | 23,374,139 | |||
Banks 7.6% | ||||
First Horizon National Corp. | 331,544 | 0.2 | 3,451,373 | |
SVB Financial Group * | 14,588 | 0.3 | 4,240,732 | |
Synovus Financial Corp. | 125,910 | 0.2 | 3,273,660 | |
Other Securities | 6.9 | 95,025,477 | ||
7.6 | 105,991,242 | |||
Capital Goods 11.6% | ||||
Dycom Industries, Inc. * | 54,141 | 0.3 | 3,515,917 | |
EnerSys | 45,743 | 0.2 | 3,275,199 | |
Generac Holdings, Inc. * | 16,829 | 0.3 | 3,536,614 | |
MasTec, Inc. * | 66,258 | 0.2 | 3,289,047 | |
Rush Enterprises, Inc., Class A | 94,465 | 0.2 | 3,385,626 | |
Terex Corp. | 160,777 | 0.3 | 3,969,584 | |
Other Securities | 10.1 | 140,698,737 | ||
11.6 | 161,670,724 | |||
Commercial & Professional Services 5.2% | ||||
Copart, Inc. * | 31,534 | 0.2 | 3,480,092 | |
CoreLogic, Inc. | 53,508 | 0.3 | 4,116,370 | |
Other Securities | 4.7 | 65,205,957 | ||
5.2 | 72,802,419 | |||
Consumer Durables & Apparel 5.1% | ||||
Deckers Outdoor Corp. * | 17,568 | 0.3 | 4,451,204 | |
Fossil Group, Inc. * | 597,356 | 0.2 | 3,410,903 | |
Kontoor Brands, Inc. * | 108,139 | 0.3 | 3,557,773 | |
Tupperware Brands Corp. * | 396,367 | 0.9 | 12,572,762 | |
Vista Outdoor, Inc. * | 181,182 | 0.3 | 3,581,968 | |
Other Securities | 3.1 | 43,559,165 | ||
5.1 | 71,133,775 | |||
Consumer Services 5.3% | ||||
Brinker International, Inc. | 90,248 | 0.3 | 3,929,398 | |
Jack in the Box, Inc. | 40,037 | 0.2 | 3,205,362 | |
Penn National Gaming, Inc. * | 73,512 | 0.3 | 3,968,178 | |
Vail Resorts, Inc. | 13,633 | 0.2 | 3,163,401 | |
Other Securities | 4.3 | 59,899,322 | ||
5.3 | 74,165,661 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Diversified Financials 4.5% | ||||
Eaton Vance Corp. | 72,388 | 0.3 | 4,328,079 | |
Janus Henderson Group plc | 148,018 | 0.3 | 3,596,837 | |
Waddell & Reed Financial, Inc., Class A | 224,950 | 0.2 | 3,452,982 | |
Other Securities | 3.7 | 51,648,186 | ||
4.5 | 63,026,084 | |||
Energy 3.8% | ||||
CNX Resources Corp. * | 326,240 | 0.2 | 3,164,528 | |
EQT Corp. | 265,767 | 0.3 | 4,023,712 | |
Range Resources Corp. | 596,907 | 0.3 | 3,927,648 | |
Renewable Energy Group, Inc. * | 64,451 | 0.3 | 3,635,036 | |
Other Securities | 2.7 | 38,024,289 | ||
3.8 | 52,775,213 | |||
Food & Staples Retailing 0.7% | ||||
Other Securities | 0.7 | 9,866,070 | ||
Food, Beverage & Tobacco 2.5% | ||||
Other Securities | 2.5 | 34,724,355 | ||
Health Care Equipment & Services 4.6% | ||||
Align Technology, Inc. * | 10,055 | 0.3 | 4,284,234 | |
Community Health Systems, Inc. * | 570,463 | 0.3 | 3,559,689 | |
Covetrus, Inc. * | 192,650 | 0.3 | 4,756,529 | |
West Pharmaceutical Services, Inc. | 13,535 | 0.3 | 3,682,467 | |
Other Securities | 3.4 | 48,007,843 | ||
4.6 | 64,290,762 | |||
Household & Personal Products 1.0% | ||||
Herbalife Nutrition Ltd. * | 72,713 | 0.2 | 3,282,265 | |
Other Securities | 0.8 | 10,995,058 | ||
1.0 | 14,277,323 | |||
Insurance 2.6% | ||||
Brown & Brown, Inc. | 77,374 | 0.2 | 3,366,543 | |
White Mountains Insurance Group Ltd. | 3,530 | 0.2 | 3,206,405 | |
Other Securities | 2.2 | 29,568,135 | ||
2.6 | 36,141,083 | |||
Materials 7.5% | ||||
Avient Corp. | 102,068 | 0.2 | 3,171,253 | |
Axalta Coating Systems Ltd. * | 129,155 | 0.2 | 3,243,082 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Cleveland-Cliffs, Inc. | 555,013 | 0.3 | 4,595,508 | |
Trinseo S.A. | 111,826 | 0.3 | 3,558,303 | |
Worthington Industries, Inc. | 65,702 | 0.2 | 3,233,195 | |
Other Securities | 6.3 | 86,445,968 | ||
7.5 | 104,247,309 | |||
Media & Entertainment 3.2% | ||||
Other Securities | 3.2 | 43,964,806 | ||
Pharmaceuticals, Biotechnology & Life Sciences 2.2% | ||||
PerkinElmer, Inc. | 32,247 | 0.3 | 4,177,599 | |
Other Securities | 1.9 | 26,096,674 | ||
2.2 | 30,274,273 | |||
Real Estate 9.1% | ||||
Uniti Group, Inc. | 358,425 | 0.2 | 3,161,308 | |
Other Securities | 8.9 | 123,360,659 | ||
9.1 | 126,521,967 | |||
Retailing 4.0% | ||||
Dillard’s, Inc., Class A (a) | 85,398 | 0.3 | 3,819,853 | |
Pool Corp. | 10,741 | 0.3 | 3,757,524 | |
Sonic Automotive, Inc., Class A | 93,899 | 0.2 | 3,385,998 | |
Other Securities | 3.2 | 44,911,395 | ||
4.0 | 55,874,770 | |||
Semiconductors & Semiconductor Equipment 2.5% | ||||
Cree, Inc. * | 58,252 | 0.3 | 3,704,827 | |
First Solar, Inc. * | 62,903 | 0.4 | 5,475,392 | |
Other Securities | 1.8 | 25,662,796 | ||
2.5 | 34,843,015 | |||
Software & Services 4.0% | ||||
Other Securities | 4.0 | 56,021,182 | ||
Technology Hardware & Equipment 4.5% | ||||
Keysight Technologies, Inc. * | 31,449 | 0.2 | 3,298,057 | |
Other Securities | 4.3 | 59,637,251 | ||
4.5 | 62,935,308 | |||
Telecommunication Services 0.8% | ||||
Other Securities | 0.8 | 10,687,493 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Transportation 2.4% | ||||
Other Securities | 2.4 | 33,353,105 | ||
Utilities 2.9% | ||||
Other Securities | 2.9 | 40,452,448 | ||
Total Common Stock | ||||
(Cost $1,138,844,757) | 1,383,414,526 | |||
Other Investment Companies 1.5% of net assets | ||||
Money Market Fund 0.4% | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 6,437,103 | 0.4 | 6,437,103 | |
Securities Lending Collateral 1.1% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 14,860,776 | 1.1 | 14,860,776 | |
Total Other Investment Companies | ||||
(Cost $21,297,879) | 21,297,879 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 2000 Index, e-mini, expires 12/18/20 | 113 | 8,682,920 | (329,056) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $13,731,147. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $1,256,892,559 | $— | $— | $1,256,892,559 | |
Real Estate | 126,521,967 | — | — * | 126,521,967 | |
Other Investment Companies1 | 21,297,879 | — | — | 21,297,879 | |
Liabilities | |||||
Futures Contracts2 | (329,056) | — | — | (329,056) | |
Total | $1,404,383,349 | $— | $— | $1,404,383,349 |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2020. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $1,145,281,860) including securities on loan of $13,731,147 | $1,389,851,629 | |
Collateral invested for securities on loan, at value (cost $14,860,776) | 14,860,776 | |
Cash | 1,529,948 | |
Deposit with broker for futures contracts | 949,000 | |
Receivables: | ||
Investments sold | 8,514 | |
Fund shares sold | 3,765,426 | |
Dividends | 725,337 | |
Income from securities on loan | + | 284,533 |
Total assets | 1,411,975,163 | |
Liabilities | ||
Collateral held for securities on loan | 14,860,776 | |
Payables: | ||
Investments bought | 212,957 | |
Investment adviser fees | 315,194 | |
Fund shares redeemed | 2,467,023 | |
Variation margin on futures contracts | + | 119,834 |
Total liabilities | 17,975,784 | |
Net Assets | ||
Total assets | 1,411,975,163 | |
Total liabilities | – | 17,975,784 |
Net assets | $1,393,999,379 | |
Net Assets by Source | ||
Capital received from investors | 1,260,312,316 | |
Total distributable earnings | 133,687,063 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,393,999,379 | 116,504,720 | $11.97 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $44,288) | $24,735,805 | |
Securities on loan, net | + | 2,026,931 |
Total investment income | 26,762,736 | |
Expenses | ||
Investment adviser fees | 3,985,955 | |
Total expenses | – | 3,985,955 |
Net investment income | 22,776,781 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (96,710,877) | |
Net realized losses on futures contracts | + | (317,509) |
Net realized losses | (97,028,386) | |
Net change in unrealized appreciation (depreciation) on investments | (122,506,904) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (527,376) |
Net change in unrealized appreciation (depreciation) | + | (123,034,280) |
Net realized and unrealized losses | (220,062,666) | |
Decrease in net assets resulting from operations | ($197,285,885) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $22,776,781 | $26,088,897 | ||
Net realized gains (losses) | (97,028,386) | 28,592,321 | ||
Net change in unrealized appreciation (depreciation) | + | (123,034,280) | 43,662,004 | |
Increase (decrease) in net assets from operations | (197,285,885) | 98,343,222 | ||
Distributions to Shareholders | ||||
Total distributions | ($70,795,483) | ($157,177,616) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 37,437,204 | $412,136,335 | 41,667,076 | $538,341,603 | ||||
Shares reinvested | 3,614,741 | 50,967,840 | 9,687,290 | 109,950,745 | ||||
Shares redeemed | + | (62,280,936) | (708,695,318) | (34,964,711) | (463,377,091) | |||
Net transactions in fund shares | (21,228,991) | ($245,591,143) | 16,389,655 | $184,915,257 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 137,733,711 | $1,907,671,890 | 121,344,056 | $1,781,591,027 | ||||
Total increase or decrease | + | (21,228,991) | (513,672,511) | 16,389,655 | 126,080,863 | |||
End of period | 116,504,720 | $1,393,999,379 | 137,733,711 | $1,907,671,890 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $8.98 | $8.69 | $9.55 | $7.96 | $8.19 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.21 | 0.30 | 0.29 | 0.25 | 0.24 | |
Net realized and unrealized gains (losses) | (1.35) | 0.27 | (0.89) | 1.59 | (0.25) | |
Total from investment operations | (1.14) | 0.57 | (0.60) | 1.84 | (0.01) | |
Less distributions: | ||||||
Distributions from net investment income | (0.33) | (0.28) | (0.26) | (0.25) | (0.22) | |
Net asset value at end of period | $7.51 | $8.98 | $8.69 | $9.55 | $7.96 | |
Total return | (13.29%) | 7.04% | (6.53%) | 23.83% | 0.07% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.34% 2 | 0.46% | |
Net operating expenses | N/A | N/A | N/A 3 | 0.29% 2 | 0.35% | |
Net investment income (loss) | 2.60% | 3.51% | 3.10% | 2.92% | 3.20% | |
Portfolio turnover rate | 14% | 28% | 13% | 11% | 18% | |
Net assets, end of period (x 1,000,000) | $966 | $1,327 | $1,349 | $1,372 | $971 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 98.1% of net assets | ||||
Australia 5.5% | ||||
Australia & New Zealand Banking Group Ltd. | 289,719 | 0.4 | 3,844,754 | |
BHP Group Ltd. | 219,490 | 0.5 | 5,261,532 | |
Commonwealth Bank of Australia | 110,136 | 0.6 | 5,347,271 | |
National Australia Bank Ltd. | 272,171 | 0.4 | 3,560,807 | |
Westpac Banking Corp. | 359,588 | 0.5 | 4,551,255 | |
Other Securities | 3.1 | 30,903,828 | ||
5.5 | 53,469,447 | |||
Austria 0.3% | ||||
Other Securities | 0.3 | 2,464,945 | ||
Belgium 0.8% | ||||
Other Securities | 0.8 | 7,335,367 | ||
Canada 6.6% | ||||
Royal Bank of Canada | 65,544 | 0.5 | 4,583,111 | |
The Toronto-Dominion Bank | 83,352 | 0.4 | 3,677,423 | |
Other Securities | 5.7 | 55,520,865 | ||
6.6 | 63,781,399 | |||
Denmark 1.1% | ||||
Other Securities | 1.1 | 10,655,285 | ||
Finland 1.2% | ||||
Other Securities | 1.2 | 11,268,013 | ||
France 8.3% | ||||
BNP Paribas S.A. * | 120,888 | 0.4 | 4,215,941 | |
Sanofi | 57,396 | 0.5 | 5,182,477 | |
TOTAL SE | 305,721 | 1.0 | 9,262,340 | |
Other Securities | 6.4 | 61,722,176 | ||
8.3 | 80,382,934 | |||
Germany 8.0% | ||||
Allianz SE | 27,365 | 0.5 | 4,820,470 | |
BASF SE | 115,294 | 0.7 | 6,313,290 | |
Bayerische Motoren Werke AG | 62,942 | 0.4 | 4,301,376 | |
Daimler AG | 169,758 | 0.9 | 8,774,534 | |
Deutsche Post AG | 84,611 | 0.4 | 3,751,481 | |
Deutsche Telekom AG | 348,156 | 0.5 | 5,291,535 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Siemens AG | 50,791 | 0.6 | 5,958,599 | |
Other Securities | 4.0 | 38,242,223 | ||
8.0 | 77,453,508 | |||
Hong Kong 1.8% | ||||
Other Securities | 1.8 | 16,940,172 | ||
Ireland 0.1% | ||||
Other Securities | 0.1 | 757,966 | ||
Israel 0.2% | ||||
Other Securities | 0.2 | 2,073,539 | ||
Italy 2.8% | ||||
Enel S.p.A. | 640,686 | 0.5 | 5,093,776 | |
Eni S.p.A. | 525,711 | 0.4 | 3,682,629 | |
Fiat Chrysler Automobiles N.V. * | 279,895 | 0.4 | 3,433,643 | |
Other Securities | 1.5 | 14,619,700 | ||
2.8 | 26,829,748 | |||
Japan 25.4% | ||||
Hitachi Ltd. | 131,700 | 0.5 | 4,438,856 | |
Honda Motor Co., Ltd. | 311,800 | 0.8 | 7,374,985 | |
KDDI Corp. | 142,700 | 0.4 | 3,860,747 | |
Mitsubishi UFJ Financial Group, Inc. | 1,098,934 | 0.4 | 4,331,893 | |
SoftBank Group Corp. | 117,700 | 0.8 | 7,666,245 | |
Sony Corp. | 40,700 | 0.4 | 3,393,013 | |
Toyota Motor Corp. | 227,518 | 1.5 | 14,935,848 | |
Other Securities | 20.6 | 199,857,885 | ||
25.4 | 245,859,472 | |||
Netherlands 2.8% | ||||
Koninklijke Ahold Delhaize N.V. | 132,062 | 0.4 | 3,620,581 | |
Unilever N.V. | 62,589 | 0.4 | 3,528,376 | |
Other Securities | 2.0 | 19,865,260 | ||
2.8 | 27,014,217 | |||
New Zealand 0.1% | ||||
Other Securities | 0.1 | 1,164,660 | ||
Norway 0.7% | ||||
Other Securities | 0.7 | 6,661,102 | ||
Poland 0.3% | ||||
Other Securities | 0.3 | 2,588,218 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Portugal 0.2% | ||||
Other Securities | 0.2 | 1,970,612 | ||
Republic of Korea 7.1% | ||||
Hyundai Motor Co. | 28,325 | 0.4 | 4,146,100 | |
POSCO | 20,387 | 0.4 | 3,763,525 | |
Samsung Electronics Co., Ltd. | 413,044 | 2.1 | 20,761,908 | |
Other Securities | 4.2 | 40,211,914 | ||
7.1 | 68,883,447 | |||
Singapore 0.6% | ||||
Other Securities | 0.6 | 6,161,924 | ||
Spain 2.7% | ||||
Banco Santander S.A. * | 3,190,199 | 0.7 | 6,388,550 | |
Iberdrola S.A. | 347,588 | 0.4 | 4,104,172 | |
Other Securities | 1.6 | 15,699,283 | ||
2.7 | 26,192,005 | |||
Sweden 2.2% | ||||
Other Securities | 2.2 | 21,336,975 | ||
Switzerland 5.0% | ||||
Nestle S.A. | 100,139 | 1.2 | 11,263,423 | |
Novartis AG | 66,307 | 0.5 | 5,166,812 | |
Roche Holding AG | 22,297 | 0.7 | 7,164,725 | |
Other Securities | 2.6 | 24,610,416 | ||
5.0 | 48,205,376 | |||
United Kingdom 14.3% | ||||
AstraZeneca plc | 34,827 | 0.4 | 3,496,821 | |
BP plc | 3,358,855 | 0.9 | 8,567,375 | |
British American Tobacco plc | 134,661 | 0.4 | 4,268,130 | |
GlaxoSmithKline plc | 238,005 | 0.4 | 3,974,321 | |
Glencore plc * | 3,115,697 | 0.7 | 6,285,094 | |
HSBC Holdings plc * | 1,673,045 | 0.7 | 7,011,050 | |
National Grid plc | 317,322 | 0.4 | 3,774,699 | |
Rio Tinto plc | 91,894 | 0.5 | 5,197,650 | |
Royal Dutch Shell plc, A Shares | 767,587 | 1.0 | 9,655,845 | |
Royal Dutch Shell plc, B Shares | 702,953 | 0.9 | 8,477,144 | |
Vodafone Group plc | 4,363,829 | 0.6 | 5,821,209 | |
Other Securities | 7.4 | 71,275,288 | ||
14.3 | 137,804,626 | |||
Total Common Stock | ||||
(Cost $986,196,686) | 947,254,957 | |||
Preferred Stock 1.2% of net assets | ||||
Germany 0.7% | ||||
Volkswagen AG | 29,665 | 0.4 | 4,321,125 | |
Other Securities | 0.3 | 1,889,143 | ||
0.7 | 6,210,268 | |||
Italy 0.1% | ||||
Other Securities | 0.1 | 575,298 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Republic of Korea 0.4% | ||||
Other Securities | 0.4 | 4,232,320 | ||
Total Preferred Stock | ||||
(Cost $10,199,858) | 11,017,886 | |||
Rights 0.0% of net assets | ||||
Republic of Korea 0.0% | ||||
Other Securities | 0.0 | 81,171 | ||
United Kingdom 0.0% | ||||
Other Securities | 0.0 | 245,105 | ||
Total Rights | ||||
(Cost $884,794) | 326,276 | |||
Other Investment Company 0.5% of net assets | ||||
United States 0.5% | ||||
Securities Lending Collateral 0.5% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 5,038,856 | 0.5 | 5,038,856 | |
Total Other Investment Company | ||||
(Cost $5,038,856) | 5,038,856 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.0% of net assets | ||||
Time Deposits 0.0% | ||||
Other Securities | 0.0 | 223,991 | ||
Total Short-Term Investments | ||||
(Cost $223,991) | 223,991 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI EAFE Index, expires 12/18/20 | 79 | 7,046,405 | (87,751) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $4,398,913. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
(e) | Rate is negative due to the current daily overnight rate at the central bank of the denominated currency and therefore is non-income producing. |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $— | $550,335,991 | $— | $550,335,991 | |
Australia | — | 53,468,809 | 638 | 53,469,447 | |
Austria | 231,679 | 2,233,266 | — | 2,464,945 | |
Belgium | 318,606 | 7,016,761 | — | 7,335,367 | |
Canada | 63,781,399 | — | — | 63,781,399 | |
Denmark | 681,518 | 9,973,767 | — | 10,655,285 | |
Germany | 1,463,245 | 75,990,263 | — | 77,453,508 | |
Hong Kong | — | 16,735,724 | 204,448 | 16,940,172 | |
Netherlands | — | 27,014,217 | — * | 27,014,217 | |
United Kingdom | 325,586 | 137,479,040 | — | 137,804,626 | |
Preferred Stock1 | — | 11,017,886 | — | 11,017,886 | |
Rights | |||||
Republic of Korea | — | — | 81,171 | 81,171 | |
United Kingdom | 245,105 | — | — | 245,105 | |
Other Investment Company1 | 5,038,856 | — | — | 5,038,856 | |
Short-Term Investments1 | — | 223,991 | — | 223,991 | |
Liabilities | |||||
Futures Contracts2 | (87,751) | — | — | (87,751) | |
Total | $71,998,243 | $891,489,715 | $286,257 | $963,774,215 |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2020. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $997,505,329) including securities on loan of $4,398,913 | $958,823,110 | |
Collateral invested for securities on loan, at value (cost $5,038,856) | 5,038,856 | |
Foreign currency, at value (cost $47,156) | 47,080 | |
Deposit with broker for futures contracts | 641,529 | |
Receivables: | ||
Investments sold | 5,496,847 | |
Dividends | 2,886,184 | |
Foreign tax reclaims | 1,850,025 | |
Fund shares sold | 1,221,510 | |
Income from securities on loan | + | 18,191 |
Total assets | 976,023,332 | |
Liabilities | ||
Collateral held for securities on loan | 5,038,856 | |
Payables: | ||
Investments bought | 90,615 | |
Investment adviser fees | 222,531 | |
Due to custodian | 3,743,911 | |
Fund shares redeemed | 855,534 | |
Variation margin on futures contracts | + | 41,224 |
Total liabilities | 9,992,671 | |
Net Assets | ||
Total assets | 976,023,332 | |
Total liabilities | – | 9,992,671 |
Net assets | $966,030,661 | |
Net Assets by Source | ||
Capital received from investors | 1,137,935,745 | |
Total distributable loss | (171,905,084) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$966,030,661 | 128,710,685 | $7.51 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $3,675,424) | $30,015,531 | |
Income from non-cash dividends | 1,793,557 | |
Interest | 4,392 | |
Securities on loan, net | + | 350,143 |
Total investment income | 32,163,623 | |
Expenses | ||
Investment adviser fees | 2,824,242 | |
Professional fees | + | 14,535* |
Total expenses | 2,838,777 | |
Expense reduction by CSIM | – | 14,535* |
Net expenses | – | 2,824,242 |
Net investment income | 29,339,381 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (56,016,612) | |
Net realized losses on futures contracts | (1,172,106) | |
Net realized losses on foreign currency transactions | + | (151,603) |
Net realized losses | (57,340,321) | |
Net change in unrealized appreciation (depreciation) on investments | (138,652,592) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (185,994) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 108,774 |
Net change in unrealized appreciation (depreciation) | + | (138,729,812) |
Net realized and unrealized losses | (196,070,133) | |
Decrease in net assets resulting from operations | ($166,730,752) |
* | Professional fees associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2(d) and 4 for additional information. |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $29,339,381 | $47,477,521 | ||
Net realized losses | (57,340,321) | (74,180,947) | ||
Net change in unrealized appreciation (depreciation) | + | (138,729,812) | 115,623,816 | |
Increase (decrease) in net assets from operations | (166,730,752) | 88,920,390 | ||
Distributions to Shareholders | ||||
Total distributions | ($48,541,581) | ($43,980,238) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 46,294,520 | $338,877,413 | 48,492,601 | $406,679,894 | ||||
Shares reinvested | 2,997,596 | 27,038,314 | 3,195,805 | 24,767,484 | ||||
Shares redeemed | + | (68,317,340) | (511,865,550) | (59,146,394) | (498,217,108) | |||
Net transactions in fund shares | (19,025,224) | ($145,949,823) | (7,457,988) | ($66,769,730) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 147,735,909 | $1,327,252,817 | 155,193,897 | $1,349,082,395 | ||||
Total decrease | + | (19,025,224) | (361,222,156) | (7,457,988) | (21,829,578) | |||
End of period | 128,710,685 | $966,030,661 | 147,735,909 | $1,327,252,817 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.57 | $12.67 | $14.58 | $11.93 | $11.25 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.22 | 0.29 | 0.33 | 0.27 | 0.25 | |
Net realized and unrealized gains (losses) | (0.97) | 0.25 | (1.70) | 2.67 | 0.66 | |
Total from investment operations | (0.75) | 0.54 | (1.37) | 2.94 | 0.91 | |
Less distributions: | ||||||
Distributions from net investment income | (0.36) | (0.30) | (0.34) | (0.29) | (0.23) | |
Distributions from net realized gains | — | (0.34) | (0.20) | — | — | |
Total distributions | (0.36) | (0.64) | (0.54) | (0.29) | (0.23) | |
Net asset value at end of period | $11.46 | $12.57 | $12.67 | $14.58 | $11.93 | |
Total return | (6.28%) | 5.13% | (9.79%) | 25.23% | 8.29% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.39% | 0.39% | 0.39% | 0.48% 2 | 0.68% | |
Net operating expenses | N/A | N/A | N/A 3 | 0.43% 2 | 0.49% | |
Net investment income (loss) | 1.89% | 2.44% | 2.30% | 2.04% | 2.24% | |
Portfolio turnover rate | 25% | 38% | 26% | 21% | 40% | |
Net assets, end of period (x 1,000,000) | $577 | $775 | $763 | $749 | $476 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.1% of net assets | ||||
Australia 5.7% | ||||
James Hardie Industries plc | 36,789 | 0.2 | 893,232 | |
JB Hi-Fi Ltd. | 27,980 | 0.2 | 934,965 | |
Other Securities | 5.3 | 31,320,680 | ||
5.7 | 33,148,877 | |||
Austria 0.5% | ||||
Other Securities | 0.5 | 3,111,343 | ||
Belgium 1.1% | ||||
Other Securities | 1.1 | 6,242,515 | ||
Canada 7.4% | ||||
Tourmaline Oil Corp. | 68,677 | 0.2 | 889,713 | |
Wheaton Precious Metals Corp. | 19,389 | 0.2 | 889,772 | |
Other Securities | 7.0 | 41,180,310 | ||
7.4 | 42,959,795 | |||
Denmark 1.5% | ||||
Other Securities | 1.5 | 8,563,284 | ||
Finland 1.1% | ||||
Huhtamaki Oyj | 18,245 | 0.2 | 891,223 | |
Other Securities | 0.9 | 5,668,103 | ||
1.1 | 6,559,326 | |||
France 3.8% | ||||
Iliad S.A. | 5,176 | 0.2 | 1,000,685 | |
SEB S.A. | 5,162 | 0.1 | 838,894 | |
UbiSoft Entertainment S.A. * | 10,281 | 0.2 | 908,156 | |
Worldline S.A. * | 11,848 | 0.2 | 877,539 | |
Other Securities | 3.1 | 17,988,363 | ||
3.8 | 21,613,637 | |||
Germany 3.9% | ||||
Kloeckner & Co. SE * | 153,376 | 0.1 | 861,970 | |
Other Securities | 3.8 | 21,588,433 | ||
3.9 | 22,450,403 | |||
Greece 0.0% | ||||
Other Securities | 0.0 | — | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Hong Kong 4.1% | ||||
First Pacific Co., Ltd. | 3,262,000 | 0.2 | 1,013,397 | |
Xinyi Glass Holdings Ltd. | 410,000 | 0.2 | 900,375 | |
Other Securities | 3.7 | 21,698,306 | ||
4.1 | 23,612,078 | |||
Ireland 0.4% | ||||
Kingspan Group plc * | 12,386 | 0.2 | 1,079,738 | |
Other Securities | 0.2 | 1,403,993 | ||
0.4 | 2,483,731 | |||
Israel 1.0% | ||||
Other Securities | 1.0 | 5,501,108 | ||
Italy 2.2% | ||||
Other Securities | 2.2 | 12,955,670 | ||
Japan 34.4% | ||||
Azbil Corp. | 25,900 | 0.2 | 1,051,107 | |
Daifuku Co., Ltd. | 9,300 | 0.2 | 958,995 | |
Ibiden Co., Ltd. | 29,700 | 0.2 | 1,210,972 | |
Iwatani Corp. | 24,000 | 0.2 | 1,088,941 | |
Japan Exchange Group, Inc. | 41,400 | 0.2 | 1,010,707 | |
Kawasaki Kisen Kaisha Ltd. * | 70,900 | 0.2 | 866,395 | |
Kurita Water Industries Ltd. | 28,500 | 0.1 | 847,981 | |
Morinaga Milk Industry Co., Ltd. | 18,500 | 0.2 | 891,935 | |
Nabtesco Corp. | 23,900 | 0.2 | 892,862 | |
Nexon Co., Ltd. | 31,322 | 0.2 | 872,972 | |
Nippon Paint Holdings Co., Ltd. | 11,200 | 0.2 | 1,008,896 | |
Nissan Chemical Corp. | 17,200 | 0.2 | 912,815 | |
Nissin Foods Holdings Co., Ltd. | 10,400 | 0.2 | 900,530 | |
Nomura Research Institute Ltd. | 29,880 | 0.2 | 880,787 | |
Rinnai Corp. | 9,100 | 0.2 | 896,682 | |
Sanwa Holdings Corp. | 74,700 | 0.1 | 852,095 | |
Shimachu Co., Ltd. | 18,500 | 0.2 | 977,857 | |
Sundrug Co., Ltd. | 22,900 | 0.1 | 850,318 | |
Taiyo Yuden Co., Ltd. | 27,800 | 0.2 | 1,028,236 | |
Other Securities | 30.9 | 180,551,125 | ||
34.4 | 198,552,208 | |||
Luxembourg 0.0% | ||||
Other Securities | 0.0 | — | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Netherlands 1.6% | ||||
PostNL N.V. * | 257,025 | 0.1 | 852,481 | |
Other Securities | 1.5 | 8,116,014 | ||
1.6 | 8,968,495 | |||
New Zealand 1.0% | ||||
Other Securities | 1.0 | 5,764,362 | ||
Norway 1.4% | ||||
Other Securities | 1.4 | 7,778,982 | ||
Poland 0.9% | ||||
Tauron Polska Energia S.A. * | 2,046,340 | 0.2 | 899,383 | |
Other Securities | 0.7 | 4,380,872 | ||
0.9 | 5,280,255 | |||
Portugal 0.3% | ||||
Other Securities | 0.3 | 1,889,407 | ||
Republic of Korea 7.0% | ||||
Doosan Infracore Co., Ltd. * | 124,413 | 0.2 | 920,521 | |
GS Engineering & Construction Corp. | 35,764 | 0.1 | 848,583 | |
Hyundai Wia Corp. | 23,565 | 0.2 | 875,088 | |
Kumho Petrochemical Co., Ltd. | 8,672 | 0.2 | 1,025,794 | |
LG Innotek Co., Ltd. | 6,312 | 0.1 | 855,696 | |
LS Corp. | 21,998 | 0.2 | 1,007,717 | |
Other Securities | 6.0 | 34,630,640 | ||
7.0 | 40,164,039 | |||
Singapore 1.5% | ||||
Venture Corp., Ltd. | 66,500 | 0.2 | 937,435 | |
Other Securities | 1.3 | 7,649,416 | ||
1.5 | 8,586,851 | |||
Spain 1.3% | ||||
Other Securities | 1.3 | 7,504,744 | ||
Sweden 3.9% | ||||
BillerudKorsnas AB | 60,629 | 0.2 | 947,090 | |
Kinnevik AB, B Shares | 29,562 | 0.2 | 1,210,532 | |
Svenska Cellulosa AB, S.C.A., B Shares * | 73,856 | 0.2 | 999,014 | |
Other Securities | 3.3 | 19,099,414 | ||
3.9 | 22,256,050 | |||
Switzerland 3.4% | ||||
Logitech International S.A. | 13,628 | 0.2 | 1,146,471 | |
Sunrise Communications Group AG * | 8,238 | 0.2 | 991,142 | |
Other Securities | 3.0 | 17,712,270 | ||
3.4 | 19,849,883 | |||
United Kingdom 9.7% | ||||
B&M European Value Retail S.A. | 140,792 | 0.2 | 883,598 | |
Howden Joinery Group plc * | 102,625 | 0.1 | 847,256 |
Security | Number of Shares | % of Net Assets | Value ($) | |
William Hill plc * | 388,374 | 0.2 | 1,379,301 | |
Other Securities | 9.2 | 53,106,804 | ||
9.7 | 56,216,959 | |||
Total Common Stock | ||||
(Cost $519,972,497) | 572,014,002 | |||
Preferred Stock 0.4% of net assets | ||||
Germany 0.4% | ||||
Other Securities | 0.4 | 2,027,466 | ||
Total Preferred Stock | ||||
(Cost $1,579,320) | 2,027,466 | |||
Rights 0.0% of net assets | ||||
Italy 0.0% | ||||
Other Securities | 0.0 | — | ||
Singapore 0.0% | ||||
Other Securities | 0.0 | — | ||
Total Rights | ||||
(Cost $—) | — | |||
Other Investment Company 1.5% of net assets | ||||
United States 1.5% | ||||
Securities Lending Collateral 1.5% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 8,614,376 | 1.5 | 8,614,376 | |
Total Other Investment Company | ||||
(Cost $8,614,376) | 8,614,376 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.1% of net assets | ||||
Time Deposits 0.1% | ||||
Other Securities | 0.1 | 696,509 | ||
Total Short-Term Investments | ||||
(Cost $696,509) | 696,509 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI EAFE Index, expires 12/18/20 | 27 | 2,408,265 | (138,487) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $7,928,976. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
(e) | Rate is negative due to the current daily overnight rate at the central bank of the denominated currency and therefore is non-income producing. |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $— | $28,372,710 | $— | $28,372,710 | |
Australia | 163,533 | 32,388,927 | 596,417 * | 33,148,877 | |
Austria | 246,461 | 2,864,882 | — | 3,111,343 | |
Canada | 42,959,795 | — | — | 42,959,795 | |
Denmark | 1,370,110 | 7,193,174 | — | 8,563,284 | |
Finland | 723,633 | 5,835,693 | — | 6,559,326 | |
France | 1,946,878 | 19,666,759 | — | 21,613,637 | |
Germany | 4,497,971 | 17,952,432 | — | 22,450,403 | |
Greece | — | — | — * | — | |
Hong Kong | 339,078 | 23,273,000 | — * | 23,612,078 | |
Ireland | 1,079,738 | 1,403,993 | — | 2,483,731 | |
Israel | 130,450 | 5,370,658 | — | 5,501,108 | |
Italy | 218,945 | 12,734,269 | 2,456 * | 12,955,670 | |
Japan | 552,175 | 198,000,033 | — | 198,552,208 | |
Luxembourg | — | — | — * | — | |
Netherlands | 1,122,951 | 7,845,544 | — | 8,968,495 | |
Poland | 391,505 | 4,888,750 | — | 5,280,255 | |
Portugal | — | 1,889,407 | — * | 1,889,407 | |
Republic of Korea | 117,308 | 40,046,731 | — | 40,164,039 | |
Spain | 1,631,438 | 5,515,142 | 358,164 * | 7,504,744 | |
Sweden | 1,693,801 | 20,562,249 | — | 22,256,050 | |
Switzerland | 33,840 | 19,816,043 | — | 19,849,883 | |
United Kingdom | 6,149,295 | 50,039,882 | 27,782 * | 56,216,959 | |
Preferred Stock1 | — | 2,027,466 | — | 2,027,466 | |
Rights 1 | |||||
Italy | — | — | — * | — | |
Singapore | — | — | — * | — | |
Other Investment Company1 | 8,614,376 | — | — | 8,614,376 | |
Short-Term Investments1 | — | 696,509 | — | 696,509 | |
Liabilities | |||||
Futures Contracts2 | (138,487) | — | — | (138,487) | |
Total | $73,844,794 | $508,384,253 | $984,819 | $583,213,866 |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2020. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $522,248,326) including securities on loan of $7,928,976 | $574,737,977 | |
Collateral invested for securities on loan, at value (cost $8,614,376) | 8,614,376 | |
Foreign currency, at value (cost $79,160) | 77,977 | |
Deposit with broker for futures contracts | 448,800 | |
Receivables: | ||
Investments sold | 20,255 | |
Dividends | 1,464,427 | |
Fund shares sold | 748,304 | |
Foreign tax reclaims | 647,885 | |
Income from securities on loan | + | 48,722 |
Total assets | 586,808,723 | |
Liabilities | ||
Collateral held for securities on loan | 8,614,376 | |
Payables: | ||
Investments bought | 447,460 | |
Investment adviser fees | 206,519 | |
Fund shares redeemed | 300,052 | |
Due to custodian | 276,890 | |
Variation margin on futures contracts | + | 15,004 |
Total liabilities | 9,860,301 | |
Net Assets | ||
Total assets | 586,808,723 | |
Total liabilities | – | 9,860,301 |
Net assets | $576,948,422 | |
Net Assets by Source | ||
Capital received from investors | 591,764,529 | |
Total distributable loss | (14,816,107) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$576,948,422 | 50,333,475 | $11.46 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $1,771,589) | $13,258,840 | |
Income from non-cash dividends | 987,855 | |
Interest | 2,232 | |
Securities on loan, net | + | 654,673 |
Total investment income | 14,903,600 | |
Expenses | ||
Investment adviser fees | 2,560,565 | |
Total expenses | – | 2,560,565 |
Net investment income | 12,343,035 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments (net of foreign capital gain tax paid of $8,348) | (47,413,575) | |
Net realized losses on futures contracts | (1,039,983) | |
Net realized losses on foreign currency transactions | + | (62,055) |
Net realized losses | (48,515,613) | |
Net change in unrealized appreciation (depreciation) on investments | (12,923,888) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (160,742) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 32,975 |
Net change in unrealized appreciation (depreciation) | + | (13,051,655) |
Net realized and unrealized losses | (61,567,268) | |
Decrease in net assets resulting from operations | ($49,224,233) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $12,343,035 | $18,989,748 | ||
Net realized losses | (48,515,613) | (12,664,287) | ||
Net change in unrealized appreciation (depreciation) | + | (13,051,655) | 31,326,114 | |
Increase (decrease) in net assets from operations | (49,224,233) | 37,651,575 | ||
Distributions to Shareholders | ||||
Total distributions | ($21,815,081) | ($40,145,201) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 18,584,362 | $193,918,636 | 21,189,779 | $254,698,550 | ||||
Shares reinvested | 1,327,830 | 17,115,730 | 2,920,765 | 31,485,839 | ||||
Shares redeemed | + | (31,234,955) | (338,304,616) | (22,650,454) | (271,063,058) | |||
Net transactions in fund shares | (11,322,763) | ($127,270,250) | 1,460,090 | $15,121,331 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 61,656,238 | $775,257,986 | 60,196,148 | $762,630,281 | ||||
Total increase or decrease | + | (11,322,763) | (198,309,564) | 1,460,090 | 12,627,705 | |||
End of period | 50,333,475 | $576,948,422 | 61,656,238 | $775,257,986 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $9.25 | $8.60 | $9.38 | $7.86 | $6.67 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.27 | 0.35 | 0.27 | 0.22 | 0.16 | |
Net realized and unrealized gains (losses) | (1.65) | 0.54 | (0.83) | 1.47 | 1.22 | |
Total from investment operations | (1.38) | 0.89 | (0.56) | 1.69 | 1.38 | |
Less distributions: | ||||||
Distributions from net investment income | (0.36) | (0.24) | (0.22) | (0.17) | (0.19) | |
Net asset value at end of period | $7.51 | $9.25 | $8.60 | $9.38 | $7.86 | |
Total return | (15.68%) | 10.73% | (6.09%) | 21.96% | 21.64% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.39% | 0.39% | 0.39% | 0.57% 2 | 0.88% | |
Net operating expenses | N/A | N/A | N/A 3 | 0.43% 2 | 0.49% | |
Net investment income (loss) | 3.32% | 3.93% | 2.92% | 2.62% | 2.41% | |
Portfolio turnover rate | 32% | 38% | 19% | 18% | 20% | |
Net assets, end of period (x 1,000,000) | $550 | $671 | $548 | $554 | $336 | |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 94.9% of net assets | ||||
Brazil 5.0% | ||||
Petroleo Brasileiro S.A. | 860,558 | 0.5 | 2,849,555 | |
Vale S.A. | 763,797 | 1.5 | 8,060,006 | |
Other Securities | 3.0 | 16,466,995 | ||
5.0 | 27,376,556 | |||
Chile 0.9% | ||||
Other Securities | 0.9 | 4,973,798 | ||
China 30.5% | ||||
Agricultural Bank of China Ltd., H Shares | 8,380,600 | 0.5 | 2,851,217 | |
Alibaba Group Holding Ltd. ADR * | 25,767 | 1.4 | 7,850,947 | |
Baidu, Inc. ADR * | 22,800 | 0.6 | 3,033,540 | |
Bank of China Ltd., H Shares | 24,342,234 | 1.4 | 7,688,764 | |
China Construction Bank Corp., H Shares | 26,762,960 | 3.4 | 18,442,705 | |
China Merchants Bank Co., Ltd., H Shares | 539,150 | 0.5 | 2,808,396 | |
China Mobile Ltd. | 1,816,555 | 2.0 | 11,111,030 | |
China Petroleum & Chemical Corp., H Shares | 22,614,400 | 1.6 | 8,830,266 | |
China Telecom Corp., Ltd., H Shares | 8,454,000 | 0.5 | 2,653,789 | |
CNOOC Ltd. | 5,088,075 | 0.8 | 4,655,363 | |
Industrial & Commercial Bank of China Ltd., H Shares | 19,248,172 | 2.0 | 10,930,345 | |
JD.com, Inc. ADR * | 30,953 | 0.5 | 2,523,289 | |
PetroChina Co., Ltd., H Shares | 12,722,000 | 0.6 | 3,572,812 | |
Ping An Insurance Group Co. of China Ltd., H Shares | 445,000 | 0.8 | 4,601,155 | |
Tencent Holdings Ltd. | 120,900 | 1.7 | 9,237,438 | |
Other Securities | 12.2 | 67,055,568 | ||
30.5 | 167,846,624 | |||
Colombia 0.2% | ||||
Other Securities | 0.2 | 1,109,945 | ||
Czech Republic 0.2% | ||||
Other Securities | 0.2 | 955,034 | ||
Egypt 0.1% | ||||
Other Securities | 0.1 | 558,059 | ||
Greece 0.4% | ||||
Other Securities | 0.4 | 1,941,194 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Hungary 0.4% | ||||
Other Securities | 0.4 | 2,086,233 | ||
India 8.3% | ||||
Infosys Ltd. | 439,668 | 1.1 | 6,299,186 | |
Reliance Industries Ltd. | 247,245 | 1.2 | 6,854,809 | |
Tata Consultancy Services Ltd. | 81,113 | 0.5 | 2,923,349 | |
Other Securities | 5.5 | 29,814,613 | ||
8.3 | 45,891,957 | |||
Indonesia 1.2% | ||||
Other Securities | 1.2 | 6,739,369 | ||
Kuwait 0.6% | ||||
Other Securities | 0.6 | 3,284,351 | ||
Malaysia 1.6% | ||||
Tenaga Nasional Berhad | 1,002,900 | 0.4 | 2,302,050 | |
Other Securities | 1.2 | 6,416,092 | ||
1.6 | 8,718,142 | |||
Mexico 4.0% | ||||
America Movil S.A.B. de C.V., Series L | 8,485,619 | 0.9 | 5,164,620 | |
Cemex S.A.B. de C.V., Series CPO | 8,672,656 | 0.7 | 3,581,664 | |
Grupo Financiero Banorte S.A.B. de C.V., Class O * | 548,100 | 0.4 | 2,441,857 | |
Other Securities | 2.0 | 10,801,202 | ||
4.0 | 21,989,343 | |||
Philippines 0.3% | ||||
Other Securities | 0.3 | 1,817,518 | ||
Qatar 0.5% | ||||
Other Securities | 0.5 | 2,709,967 | ||
Russia 8.3% | ||||
Gazprom PJSC - USD | 5,915,930 | 2.1 | 11,542,370 | |
Lukoil PJSC | 206,866 | 1.9 | 10,532,899 | |
Magnit PJSC | 43,263 | 0.5 | 2,570,389 | |
Rosneft Oil Co. PJSC | 578,190 | 0.5 | 2,555,298 | |
Sberbank of Russia PJSC | 1,859,090 | 0.9 | 4,704,371 | |
Other Securities | 2.4 | 13,527,244 | ||
8.3 | 45,432,571 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Saudi Arabia 2.1% | ||||
Saudi Basic Industries Corp. | 179,181 | 0.8 | 4,297,631 | |
Other Securities | 1.3 | 7,543,529 | ||
2.1 | 11,841,160 | |||
South Africa 5.0% | ||||
MTN Group Ltd. | 1,218,243 | 0.8 | 4,349,749 | |
Sasol Ltd. * | 570,371 | 0.5 | 2,978,605 | |
Standard Bank Group Ltd. | 393,612 | 0.5 | 2,573,786 | |
Other Securities | 3.2 | 17,658,745 | ||
5.0 | 27,560,885 | |||
Taiwan 20.5% | ||||
Asustek Computer, Inc. | 356,041 | 0.5 | 3,024,963 | |
AU Optronics Corp. * | 9,017,800 | 0.7 | 3,642,137 | |
China Steel Corp. | 3,239,198 | 0.4 | 2,301,003 | |
Compal Electronics, Inc. | 3,624,305 | 0.4 | 2,361,229 | |
Hon Hai Precision Industry Co., Ltd. | 6,071,572 | 3.0 | 16,466,894 | |
Innolux Corp. * | 11,618,357 | 0.7 | 4,032,599 | |
MediaTek, Inc. | 160,338 | 0.7 | 3,811,276 | |
Nan Ya Plastics Corp. | 1,153,622 | 0.4 | 2,369,699 | |
Pegatron Corp. | 1,372,264 | 0.5 | 2,957,267 | |
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,787,803 | 4.9 | 27,048,876 | |
United Microelectronics Corp. | 3,521,965 | 0.7 | 3,785,234 | |
Other Securities | 7.6 | 40,914,606 | ||
20.5 | 112,715,783 | |||
Thailand 2.8% | ||||
PTT PCL NVDR | 5,067,670 | 0.9 | 5,036,237 | |
The Siam Cement PCL NVDR | 221,700 | 0.4 | 2,402,271 | |
Other Securities | 1.5 | 7,738,231 | ||
2.8 | 15,176,739 | |||
Turkey 1.3% | ||||
Other Securities | 1.3 | 7,286,922 | ||
United Arab Emirates 0.7% | ||||
Other Securities | 0.7 | 3,876,481 | ||
Total Common Stock | ||||
(Cost $526,484,143) | 521,888,631 | |||
Preferred Stock 4.7% of net assets | ||||
Brazil 3.5% | ||||
Banco Bradesco S.A. | 1,181,833 | 0.8 | 4,152,311 | |
Itau Unibanco Holding S.A. | 1,493,479 | 1.1 | 6,111,397 | |
Petroleo Brasileiro S.A. | 1,294,254 | 0.8 | 4,272,113 | |
Other Securities | 0.8 | 4,690,827 | ||
3.5 | 19,226,648 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Colombia 0.1% | ||||
Other Securities | 0.1 | 803,635 | ||
Russia 1.1% | ||||
Transneft PJSC | 2,870 | 0.9 | 4,772,270 | |
Other Securities | 0.2 | 1,391,943 | ||
1.1 | 6,164,213 | |||
Total Preferred Stock | ||||
(Cost $30,267,023) | 26,194,496 | |||
Other Investment Company 0.1% of net assets | ||||
United States 0.1% | ||||
Securities Lending Collateral 0.1% | ||||
Other Securities | 0.1 | 420,000 | ||
Total Other Investment Company | ||||
(Cost $420,000) | 420,000 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.0% of net assets | ||||
Time Deposits 0.0% | ||||
Other Securities | 0.0 | 91,937 | ||
Total Short-Term Investments | ||||
(Cost $91,937) | 91,937 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI Emerging Markets Index, expires 12/18/20 | 28 | 1,542,660 | (32,981) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $398,843. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
(e) | Rate is negative due to the current daily overnight rate at the central bank of the denominated currency and therefore is non-income producing. |
ADR — | American Depositary Receipt |
GDR — | Global Depositary Receipt |
NVDR — | Non-Voting Depositary Receipt |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $— | $216,914,029 | $— | $216,914,029 | |
Brazil | 27,376,556 | — | — | 27,376,556 | |
China | 15,945,374 | 151,901,250 | — | 167,846,624 | |
Colombia | 1,109,945 | — | — | 1,109,945 | |
Mexico | 21,989,343 | — | — | 21,989,343 | |
Philippines | — | — | 1,817,518 | 1,817,518 | |
Russia | 41,738,662 | 3,693,909 | — | 45,432,571 | |
Saudi Arabia | 1,543,404 | 10,297,756 | — | 11,841,160 | |
South Africa | 2,528,646 | 25,032,239 | — | 27,560,885 | |
Preferred Stock | |||||
Brazil | 19,226,648 | — | — | 19,226,648 | |
Colombia | 803,635 | — | — | 803,635 | |
Russia | 5,995,089 | 169,124 | — | 6,164,213 | |
Other Investment Company1 | 420,000 | — | — | 420,000 | |
Short-Term Investments1 | — | 91,937 | — | 91,937 | |
Liabilities | |||||
Futures Contracts2 | (32,981) | — | — | (32,981) | |
Total | $138,644,321 | $408,100,244 | $1,817,518 | $548,562,083 |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $556,843,103) including securities on loan of $398,843 | $548,175,064 | |
Collateral invested for securities on loan, at value (cost $420,000) | 420,000 | |
Foreign currency, at value (cost $256,009) | 255,387 | |
Deposit with broker for futures contracts | 157,410 | |
Receivables: | ||
Fund shares sold | 1,236,280 | |
Dividends | 1,180,268 | |
Income from securities on loan | 3,434 | |
Foreign tax reclaims | + | 838 |
Total assets | 551,428,681 | |
Liabilities | ||
Collateral held for securities on loan | 420,000 | |
Payables: | ||
Investment adviser fees | 193,265 | |
Fund shares redeemed | 352,624 | |
Foreign capital gains tax | 311,084 | |
Variation margin on futures contracts | + | 17,528 |
Total liabilities | 1,294,501 | |
Net Assets | ||
Total assets | 551,428,681 | |
Total liabilities | – | 1,294,501 |
Net assets | $550,134,180 | |
Net Assets by Source | ||
Capital received from investors | 662,911,120 | |
Total distributable loss | (112,776,940) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$550,134,180 | 73,301,021 | $7.51 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $3,088,410) | $21,908,994 | |
Interest | 5,834 | |
Securities on loan, net | + | 8,814 |
Total investment income | 21,923,642 | |
Expenses | ||
Investment adviser fees | 2,312,739 | |
Total expenses | – | 2,312,739 |
Net investment income | 19,610,903 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments (net of foreign capital gain tax paid of $12,630) | (41,079,144) | |
Net realized losses on futures contracts | (654,564) | |
Net realized losses on foreign currency transactions | + | (286,349) |
Net realized losses | (42,020,057) | |
Net change in unrealized appreciation (depreciation) on investments (net of change in foreign capital gains tax of ($58,772)) | (85,963,236) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (47,086) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (24,982) |
Net change in unrealized appreciation (depreciation) | + | (86,035,304) |
Net realized and unrealized losses | (128,055,361) | |
Decrease in net assets resulting from operations | ($108,444,458) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $19,610,903 | $24,384,488 | ||
Net realized gains (losses) | (42,020,057) | 6,327,116 | ||
Net change in unrealized appreciation (depreciation) | + | (86,035,304) | 31,350,637 | |
Increase (decrease) in net assets from operations | (108,444,458) | 62,062,241 | ||
Distributions to Shareholders | ||||
Total distributions | ($26,542,518) | ($15,972,543) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 36,046,335 | $278,152,407 | 25,021,407 | $219,417,177 | ||||
Shares reinvested | 2,049,543 | 19,245,216 | 1,405,982 | 11,419,761 | ||||
Shares redeemed | + | (37,357,533) | (283,186,415) | (17,582,733) | (154,001,819) | |||
Net transactions in fund shares | 738,345 | $14,211,208 | 8,844,656 | $76,835,119 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 72,562,676 | $670,909,948 | 63,718,020 | $547,985,131 | ||||
Total increase or decrease | + | 738,345 | (120,775,768) | 8,844,656 | 122,924,817 | |||
End of period | 73,301,021 | $550,134,180 | 72,562,676 | $670,909,948 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Fundamental US Large Company Index Fund | Schwab Target 2010 Fund |
Schwab Fundamental US Small Company Index Fund | Schwab Target 2015 Fund |
Schwab Fundamental International Large Company Index Fund | Schwab Target 2020 Fund |
Schwab Fundamental International Small Company Index Fund | Schwab Target 2025 Fund |
Schwab Fundamental Emerging Markets Large Company Index Fund | Schwab Target 2030 Fund |
Schwab Fundamental Global Real Estate Index Fund | Schwab Target 2035 Fund |
Schwab S&P 500 Index Fund | Schwab Target 2040 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2045 Fund |
Schwab U.S. Large-Cap Growth Index Fund | Schwab Target 2050 Fund |
Schwab U.S. Large-Cap Value Index Fund | Schwab Target 2055 Fund |
Schwab U.S. Mid-Cap Index Fund | Schwab Target 2060 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2010 Index Fund |
Schwab International Index Fund® | Schwab Target 2015 Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2020 Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2025 Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2030 Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2035 Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2040 Index Fund |
Schwab Balanced Fund | Schwab Target 2045 Index Fund |
Schwab Core Equity Fund | Schwab Target 2050 Index Fund |
Schwab Dividend Equity Fund | Schwab Target 2055 Index Fund |
Schwab Large-Cap Growth Fund | Schwab Target 2060 Index Fund |
Schwab Small-Cap Equity Fund | Schwab Monthly Income Fund - Moderate Payout |
Schwab Hedged Equity Fund | Schwab Monthly Income Fund - Enhanced Payout |
Schwab Health Care Fund | Schwab Monthly Income Fund - Maximum Payout |
Schwab International Core Equity Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund |
0.25% | 0.25% | 0.25% | 0.39% | 0.39% |
Underlying Funds | |||||
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |
Schwab MarketTrack All Equity Portfolio | 1.8% | 2.1% | 3.9% | 5.4% | 5.8% |
Schwab MarketTrack Balanced Portfolio | 1.0% | 1.0% | 1.6% | 2.3% | 2.3% |
Schwab MarketTrack Conservative Portfolio | 0.4% | 0.3% | 0.6% | 0.8% | 0.8% |
Schwab MarketTrack Growth Portfolio | 2.0% | 2.1% | 3.1% | 4.3% | 4.5% |
Total Aggregate Transactions | Realized Gains (Losses) | |
Schwab Fundamental US Large Company Index Fund | $479,171,365 | $90,605,314 |
Schwab Fundamental US Small Company Index Fund | 239,052,620 | 13,047,109 |
Schwab Fundamental International Large Company Index Fund | 39,343,962 | (1,898,975) |
Schwab Fundamental International Small Company Index Fund | 41,468,926 | 1,736,784 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 14,986,843 | 54,633 |
5. Board of Trustees:
6. Borrowing from Banks:
Notional Amounts | Number of Contracts | |
Schwab Fundamental US Large Company Index Fund | $19,598,327 | 128 |
Schwab Fundamental US Small Company Index Fund | 7,570,890 | 101 |
Schwab Fundamental International Large Company Index Fund | 6,563,722 | 73 |
Schwab Fundamental International Small Company Index Fund | 4,271,225 | 48 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 2,881,382 | 57 |
8. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities | |
Schwab Fundamental US Large Company Index Fund | $634,253,255 | $1,039,392,492 |
Schwab Fundamental US Small Company Index Fund | 445,713,163 | 703,594,013 |
Schwab Fundamental International Large Company Index Fund | 160,159,418 | 328,116,477 |
Schwab Fundamental International Small Company Index Fund | 162,936,026 | 298,674,174 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 194,117,140 | 188,516,195 |
9. Federal Income Taxes:
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
Tax cost | $3,238,767,758 | $1,255,407,137 | $1,103,931,279 | $580,272,049 | $605,904,289 | ||||
Gross unrealized appreciation | $1,844,305,527 | $412,388,278 | $160,617,463 | $137,598,410 | $90,496,710 | ||||
Gross unrealized depreciation | (534,091,515) | (263,412,066) | (300,774,527) | (134,656,593) | (147,838,916) | ||||
Net unrealized appreciation (depreciation) | $1,310,214,012 | $148,976,212 | ($140,157,064) | $2,941,817 | ($57,342,206) |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
Undistributed ordinary income | $99,511,360 | $15,501,168 | $23,922,591 | $11,476,893 | $16,742,726 | ||||
Undistributed long-term capital gains | 186,863,054 | — | — | — | — | ||||
Net unrealized appreciation (depreciation) on investments | 1,310,214,012 | 148,976,212 | (140,157,064) | 2,941,817 | (57,342,206) | ||||
Net other unrealized appreciation (depreciation) | — | — | 128,962 | 39,651 | (342,002) | ||||
Total | $1,596,588,426 | $164,477,380 | ($116,105,511) | $14,458,361 | ($40,941,482) |
Expiration Date | Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | ||||
No expiration | $— | $30,790,317 | $55,799,573 | $29,274,468 | $71,835,458 | ||||
Total | $— | $30,790,317 | $55,799,573 | $29,274,468 | $71,835,458 |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |
Current fiscal year end distributions | |||||
Ordinary income | $135,286,528 | $27,292,972 | $48,541,581 | $21,815,081 | $26,542,518 |
Long-term capital gains | 145,433,758 | 43,502,511 | — | — | — |
Prior fiscal year end distributions | |||||
Ordinary income | $115,941,650 | $49,180,336 | $43,980,238 | $18,761,883 | $15,972,543 |
Long-term capital gains | 268,964,966 | 107,997,280 | — | 21,383,318 | — |
10. Independent Registered Public Accounting Firm:
11. Subsequent Events:
Denver, Colorado
December 16, 2020
Foreign Tax Credit | Foreign Source Income | |
Schwab Fundamental US Large Company Index Fund | $— | $— |
Schwab Fundamental US Small Company Index Fund | — | — |
Schwab Fundamental International Large Company Index Fund | 3,588,659 | 29,238,908 |
Schwab Fundamental International Small Company Index Fund | 1,448,300 | 12,138,913 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 3,093,499 | 24,997,404 |
Percentage | |
Schwab Fundamental US Large Company Index Fund | 95.48 |
Schwab Fundamental US Small Company Index Fund | 79.30 |
Schwab Fundamental International Large Company Index Fund | — |
Schwab Fundamental International Small Company Index Fund | — |
Schwab Fundamental Emerging Markets Large Company Index Fund | — |
Schwab Fundamental US Large Company Index Fund | $123,724,288 |
Schwab Fundamental US Small Company Index Fund | 22,264,986 |
Schwab Fundamental International Large Company Index Fund | 49,683,676 |
Schwab Fundamental International Small Company Index Fund | 17,983,679 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 20,621,021 |
Schwab Fundamental US Large Company Index Fund | $145,433,758 |
Schwab Fundamental US Small Company Index Fund | 43,502,511 |
Schwab Fundamental International Large Company Index Fund | — |
Schwab Fundamental International Small Company Index Fund | — |
Schwab Fundamental Emerging Markets Large Company Index Fund | — |
1. | the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | each Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
1 | The meeting on June 9, 2020 was held telephonically in reliance on exemptive relief from the in-person voting requirement under the 1940 Act as provided by the Securities and Exchange Commission. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 100 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 100 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 100 | None |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting). | 100 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 100 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 100 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 100 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 100 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors). | 100 | Director (2012 – present), Eaton Corporation plc |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 100 | Director (2008 – present), The Charles Schwab Corporation |
Interested Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jonathan de St. Paer2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. | 100 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 100 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Mr. de St. Paer and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
All Equity Portfolio™
Growth Portfolio™
Balanced Portfolio™
Conservative Portfolio™
New Notice Regarding Shareholder Report Delivery Options |
Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/schwabfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically. |
If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request: |
• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing; |
• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or |
• If owned directly through a fund by calling 1-800-407-0256. |
If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action. |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab MarketTrack All Equity Portfolio (Ticker Symbol: SWEGX) | -1.35% |
All Equity Composite Index | -1.05% |
Fund Category: Morningstar Allocation—85%+ Equity1 | 2.47% |
Performance Details | pages 7-9 |
Schwab MarketTrack Growth Portfolio (Ticker Symbol: SWHGX) | 0.74% |
Growth Composite Index | 1.06% |
Fund Category: Morningstar Allocation—70% to 85% Equity1 | 1.83% |
Performance Details | pages 10-12 |
Schwab MarketTrack Balanced Portfolio (Ticker Symbol: SWBGX) | 2.37% |
Balanced Composite Index | 2.70% |
Fund Category: Morningstar Allocation—50% to 70% Equity1 | 3.88% |
Performance Details | pages 13-15 |
Schwab MarketTrack Conservative Portfolio (Ticker Symbol: SWCGX) | 3.57% |
Conservative Composite Index | 4.00% |
Fund Category: Morningstar Allocation—30% to 50% Equity1 | 2.76% |
Performance Details | pages 16-18 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
President of Charles Schwab
Investment Management, Inc.
and the funds covered
in this report.
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Zifan Tang, Ph.D., CFA, Senior Portfolio Manager, is responsible for the co-management of the funds. Prior to joining CSIM in January 2012, Ms. Tang was a product manager at Thomson Reuters and from 1997 to 2009 worked as a portfolio manager at Barclays Global Investors (now known as BlackRock). |
Patrick Kwok, CFA, Portfolio Manager, is responsible for the co-management of the funds. Previously, Mr. Kwok served as an associate portfolio manager with CSIM from 2012 to 2016. Prior to that, he worked as a fund administration manager for CSIM, where he was responsible for oversight of sub-advisers, trading, cash management, and fund administration for the Charles Schwab Trust Bank Collective Investment Trusts and Schwab’s multi-asset mutual funds. Prior to joining CSIM in 2008, Mr. Kwok spent two years as an asset operations specialist at Charles Schwab Trust Company. He also worked for one year at State Street Bank & Trust as a portfolio accountant and pricing specialist. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab MarketTrack All Equity Portfolio (5/19/98) | -1.35% | 6.99% | 8.54% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
All Equity Composite Index | -1.05% | 7.49% | 9.08% |
Fund Category: Morningstar Allocation—85%+ Equity2 | 2.47% | 6.84% | 8.40% |
Fund Expense Ratio3: 0.53% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.13% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Reflects the total annual fund operating expenses without contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 11 |
Portfolio Turnover Rate | 18% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab MarketTrack Growth Portfolio (11/20/95) | 0.74% | 6.65% | 7.83% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Growth Composite Index | 1.06% | 7.14% | 8.32% |
Fund Category: Morningstar Allocation—70% to 85% Equity2 | 1.83% | 6.21% | 7.46% |
Fund Expense Ratio3: 0.51% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.11% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Reflects the total annual fund operating expenses without contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 14 |
Portfolio Turnover Rate | 19% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab MarketTrack Balanced Portfolio (11/20/95) | 2.37% | 6.00% | 6.70% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Balanced Composite Index | 2.70% | 6.51% | 7.22% |
Fund Category: Morningstar Allocation—50% to 70% Equity2 | 3.88% | 6.23% | 7.13% |
Fund Expense Ratio3: 0.50% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.10% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Reflects the total annual fund operating expenses without contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 15 |
Portfolio Turnover Rate | 22% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab MarketTrack Conservative Portfolio (11/20/95) | 3.57% | 5.16% | 5.43% |
S&P 500® Index | 9.71% | 11.71% | 13.01% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Conservative Composite Index | 4.00% | 5.75% | 6.02% |
Fund Category: Morningstar Allocation—30% to 50% Equity2 | 2.76% | 4.82% | 5.44% |
Fund Expense Ratio3: 0.51% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.08% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Reflects the total annual fund operating expenses without contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 14 |
Portfolio Turnover Rate | 35% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
Expense Ratio (Annualized)1,2 | Effective Expense Ratio (Annualized)3,4 | Beginning Account Value at 5/1/20 | Ending Account Value (Net of Expenses) at 10/31/20 | Expenses Paid During Period 5/1/20-10/31/202,5 | Effective Expenses Paid During Period 5/1/20-10/31/204,5 | |
Schwab MarketTrack All Equity Portfolio | ||||||
Actual Return | 0.39% | 0.51% | $1,000.00 | $1,115.80 | $2.07 | $2.71 |
Hypothetical 5% Return | 0.39% | 0.51% | $1,000.00 | $1,023.14 | $1.98 | $2.59 |
Schwab MarketTrack Growth Portfolio | ||||||
Actual Return | 0.39% | 0.50% | $1,000.00 | $1,095.80 | $2.05 | $2.63 |
Hypothetical 5% Return | 0.39% | 0.50% | $1,000.00 | $1,023.14 | $1.98 | $2.54 |
Schwab MarketTrack Balanced Portfolio | ||||||
Actual Return | 0.40% | 0.49% | $1,000.00 | $1,074.20 | $2.09 | $2.55 |
Hypothetical 5% Return | 0.40% | 0.49% | $1,000.00 | $1,023.09 | $2.03 | $2.49 |
Schwab MarketTrack Conservative Portfolio | ||||||
Actual Return | 0.41% | 0.49% | $1,000.00 | $1,052.70 | $2.12 | $2.53 |
Hypothetical 5% Return | 0.41% | 0.49% | $1,000.00 | $1,023.04 | $2.08 | $2.49 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights. |
2 | Excludes acquired fund fees and expenses, which are indirect expenses incurred by the fund through its investments in underlying funds. |
3 | Based on the most recent six-month acquired fund fees and expense ratio; may differ from the acquired fund fees and expenses ratios in the prospectus. |
4 | Includes acquired fund fees and expenses, which are indirect expenses incurred by the fund through its investments in underlying funds. |
5 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $19.15 | $18.33 | $18.76 | $15.90 | $17.00 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.37 | 0.31 | 0.28 | 0.27 | 0.27 | |
Net realized and unrealized gains (losses) | (0.54) | 1.30 | (0.05) | 3.33 | 0.31 | |
Total from investment operations | (0.17) | 1.61 | 0.23 | 3.60 | 0.58 | |
Less distributions: | ||||||
Distributions from net investment income | (0.53) | (0.36) | (0.33) | (0.30) | (0.53) | |
Distributions from net realized gains | (0.72) | (0.43) | (0.33) | (0.44) | (1.15) | |
Total distributions | (1.25) | (0.79) | (0.66) | (0.74) | (1.68) | |
Net asset value at end of period | $17.73 | $19.15 | $18.33 | $18.76 | $15.90 | |
Total return | (1.35%) | 9.58% | 1.10% | 23.33% | 3.99% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.40% | 0.40% | 0.39% | 0.40% | 0.41% | |
Gross operating expenses2 | 0.40% | 0.40% | 0.39% | 0.40% | 0.42% | |
Net investment income (loss) | 2.08% | 1.72% | 1.46% | 1.56% | 1.73% | |
Portfolio turnover rate | 18% | 6% | 5% | 5% | 6% | |
Net assets, end of period (x 1,000,000) | $623 | $691 | $660 | $662 | $553 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 99.5% of net assets | ||
Equity Funds 99.5% | ||
International 29.8% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund | 4,264,688 | 31,985,158 |
Schwab Fundamental International Large Company Index Fund | 4,959,736 | 37,247,617 |
Schwab Fundamental International Small Company Index Fund | 2,738,712 | 31,385,635 |
Schwab International Index Fund | 4,579,159 | 84,989,194 |
185,607,604 | ||
Large-Cap 49.7% | ||
Schwab Fundamental US Large Company Index Fund | 5,149,892 | 83,840,241 |
Schwab S&P 500 Index Fund | 3,837,819 | 194,769,310 |
Schwab U.S. Large-Cap Growth Index Fund | 500,462 | 31,408,980 |
310,018,531 | ||
Real Estate 4.9% | ||
Schwab U.S. REIT ETF | 892,473 | 30,585,050 |
Small-Cap 15.1% | ||
Schwab Fundamental US Small Company Index Fund | 2,434,979 | 29,146,693 |
Schwab Small-Cap Index Fund | 2,386,850 | 64,874,595 |
94,021,288 | ||
Total Affiliated Underlying Funds | ||
(Cost $428,011,191) | 620,232,473 |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.4% of net assets | ||
Time Deposit 0.4% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (a) | 2,265,040 | 2,265,040 |
Total Short-Term Investment | ||
(Cost $2,265,040) | 2,265,040 |
(a) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Schwab Fundamental Emerging Markets Large Company Index Fund | $34,543,201 | $4,633,720 | ($320,000) | $3,038 | ($6,874,801) | $31,985,158 | 4,264,688 | $1,353,720 |
Schwab Fundamental International Large Company Index Fund | 40,345,903 | 4,323,427 | (490,000) | (72,315) | (6,859,398) | 37,247,617 | 4,959,736 | 1,493,427 |
Schwab Fundamental International Small Company Index Fund | 35,162,430 | 1,475,116 | (2,190,000) | (340,621) | (2,721,290) | 31,385,635 | 2,738,712 | 995,116 |
Schwab Fundamental US Large Company Index Fund | 93,229,404 | 5,002,650 | (6,920,000) | (457,807) | (7,014,006) | 83,840,241 | 5,149,892 | 5,002,650 |
Schwab Fundamental US Small Company Index Fund | 50,829,585 | 5,350,054 | (20,990,000) | (1,519,480) | (4,523,466) | 29,146,693 | 2,434,979 | 1,890,053 |
Schwab International Index Fund | 96,463,199 | 7,477,772 | (9,260,000) | (1,244,417) | (8,447,360) | 84,989,194 | 4,579,159 | 3,017,772 |
Schwab S&P 500 Index Fund | 217,206,651 | 4,772,544 | (40,080,000) | 20,830,189 | (7,960,074) | 194,769,310 | 3,837,819 | 4,372,544 |
Schwab Small-Cap Index Fund | 119,883,006 | 12,637,133 | (59,360,000) | 12,215,300 | (20,500,844) | 64,874,595 | 2,386,850 | 7,347,133 |
Schwab U.S. Large-Cap Growth Index Fund | — | 32,900,000 | (8,590,000) | 653,032 | 6,445,948 | 31,408,980 | 500,462 | — |
Schwab U.S. REIT ETF | — | 37,289,875 | — | — | (6,704,825) | 30,585,050 | 892,473 | 484,686 |
Total | $687,663,379 | $115,862,291 | ($148,200,000) | $30,066,919 | ($65,160,116) | $620,232,473 | $25,957,101 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $620,232,473 | $— | $— | $620,232,473 | |
Short-Term Investment1 | — | 2,265,040 | — | 2,265,040 | |
Total | $620,232,473 | $2,265,040 | $— | $622,497,513 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $428,011,191) | $620,232,473 | |
Investments in unaffiliated issuers, at value (cost $2,265,040) | 2,265,040 | |
Receivables: | ||
Investments sold | 1,780,001 | |
Fund shares sold | 438,586 | |
Prepaid expenses | + | 13,799 |
Total assets | 624,729,899 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,176,061 | |
Investment adviser and administrator fees | 74,287 | |
Shareholder service fees | 135,990 | |
Fund shares redeemed | 167,220 | |
Accrued expenses | + | 81,430 |
Total liabilities | 1,634,988 | |
Net Assets | ||
Total assets | 624,729,899 | |
Total liabilities | – | 1,634,988 |
Net assets | $623,094,911 | |
Net Assets by Source | ||
Capital received from investors | 405,312,759 | |
Total distributable earnings | 217,782,152 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$623,094,911 | 35,135,909 | $17.73 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $16,006,732 | |
Interest | + | 14,385 |
Total investment income | 16,021,117 | |
Expenses | ||
Investment adviser and administrator fees | 844,678 | |
Shareholder service fees | 1,543,927 | |
Shareholder reports | 65,325 | |
Registration fees | 32,167 | |
Portfolio accounting fees | 27,078 | |
Professional fees | 25,311 | |
Transfer agent fees | 15,713 | |
Independent trustees’ fees | 10,676 | |
Custodian fees | 2,055 | |
Other expenses | + | 10,143 |
Total expenses | 2,577,073 | |
Expense reduction by CSIM and its affiliates | – | 15,713 |
Net expenses | – | 2,561,360 |
Net investment income | 13,459,757 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 9,950,369 | |
Net realized gains on sales of affiliated underlying funds | + | 30,066,919 |
Net realized gains | 40,017,288 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (65,160,116) |
Net realized and unrealized losses | (25,142,828) | |
Decrease in net assets resulting from operations | ($11,683,071) |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $13,459,757 | $11,446,552 | ||
Net realized gains | 40,017,288 | 26,061,302 | ||
Net change in unrealized appreciation (depreciation) | + | (65,160,116) | 23,445,012 | |
Increase (decrease) in net assets from operations | (11,683,071) | 60,952,866 | ||
Distributions to Shareholders | ||||
Total distributions | ($44,690,295) | ($28,006,553) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 4,011,146 | $68,570,719 | 3,457,644 | $62,047,856 | ||||
Shares reinvested | 2,115,919 | 40,244,771 | 1,580,131 | 25,376,894 | ||||
Shares redeemed | + | (7,060,916) | (120,148,036) | (4,966,158) | (89,453,708) | |||
Net transactions in fund shares | (933,851) | ($11,332,546) | 71,617 | ($2,028,958) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 36,069,760 | $690,800,823 | 35,998,143 | $659,883,468 | ||||
Total increase or decrease | + | (933,851) | (67,705,912) | 71,617 | 30,917,355 | |||
End of period | 35,135,909 | $623,094,911 | 36,069,760 | $690,800,823 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $23.54 | $22.67 | $23.47 | $20.54 | $22.68 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.43 | 0.41 | 0.37 | 0.34 | 0.32 | |
Net realized and unrealized gains (losses) | (0.20) | 1.62 | (0.04) | 3.37 | 0.41 | |
Total from investment operations | 0.23 | 2.03 | 0.33 | 3.71 | 0.73 | |
Less distributions: | ||||||
Distributions from net investment income | (0.47) | (0.45) | (0.40) | (0.36) | (0.39) | |
Distributions from net realized gains | (0.88) | (0.71) | (0.73) | (0.42) | (2.48) | |
Total distributions | (1.35) | (1.16) | (1.13) | (0.78) | (2.87) | |
Net asset value at end of period | $22.42 | $23.54 | $22.67 | $23.47 | $20.54 | |
Total return | 0.74% | 9.86% | 1.28% | 18.52% | 3.88% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.39% | 0.40% | 0.39% | 0.40% | 0.41% | |
Gross operating expenses2 | 0.40% | 0.40% | 0.39% | 0.40% | 0.41% | |
Net investment income (loss) | 1.92% | 1.82% | 1.59% | 1.57% | 1.61% | |
Portfolio turnover rate | 19% | 7% | 7% | 20% 3 | 12% | |
Net assets, end of period (x 1,000,000) | $748 | $817 | $783 | $804 | $707 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.7% of net assets | ||
Equity Funds 79.9% | ||
International 20.0% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund | 3,275,930 | 24,569,478 |
Schwab Fundamental International Large Company Index Fund | 4,008,276 | 30,102,153 |
Schwab Fundamental International Small Company Index Fund | 2,187,940 | 25,073,791 |
Schwab International Index Fund | 3,755,438 | 69,700,927 |
149,446,349 | ||
Large-Cap 43.2% | ||
Schwab Fundamental US Large Company Index Fund | 5,476,326 | 89,154,595 |
Schwab S&P 500 Index Fund | 4,114,244 | 208,797,893 |
Schwab U.S. Large-Cap Growth Index Fund | 406,010 | 25,481,188 |
323,433,676 | ||
Real Estate 3.7% | ||
Schwab U.S. REIT ETF | 807,983 | 27,689,578 |
27,689,578 | ||
Small-Cap 13.0% | ||
Schwab Fundamental US Small Company Index Fund | 2,442,276 | 29,234,040 |
Schwab Small-Cap Index Fund | 2,494,982 | 67,813,605 |
97,047,645 | ||
597,617,248 | ||
Security | Number of Shares | Value ($) |
Fixed-Income Funds 16.2% | ||
Intermediate-Term Bond 16.2% | ||
Schwab U.S. Aggregate Bond Index Fund | 11,301,586 | 121,379,029 |
Money Market Fund 2.6% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 19,559,587 | 19,567,411 |
Total Affiliated Underlying Funds | ||
(Cost $497,556,659) | 738,563,688 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.2% of net assets | ||
Time Deposits 1.2% | ||
Skandinaviska Enskilda Banken | ||
0.01%, 11/02/20 (b) | 1,302,063 | 1,302,063 |
Sumitomo Mitsui Banking Corp. | ||
0.01%, 11/02/20 (b) | 7,554,194 | 7,554,194 |
Total Short-Term Investments | ||
(Cost $8,856,257) | 8,856,257 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Schwab Fundamental Emerging Markets Large Company Index Fund | $28,413,513 | $2,746,380 | ($1,610,000) | $129,514 | ($5,109,929) | $24,569,478 | 3,275,930 | $1,066,381 |
Schwab Fundamental International Large Company Index Fund | 32,938,332 | 3,239,233 | (680,000) | (163,686) | (5,231,726) | 30,102,153 | 4,008,276 | 1,219,232 |
Schwab Fundamental International Small Company Index Fund | 26,960,646 | 1,903,215 | (1,640,000) | (231,032) | (1,919,038) | 25,073,791 | 2,187,940 | 773,215 |
Schwab Fundamental US Large Company Index Fund | 98,801,392 | 7,803,339 | (10,270,000) | 401,621 | (7,581,757) | 89,154,595 | 5,476,326 | 5,178,338 |
Schwab Fundamental US Small Company Index Fund | 48,680,656 | 5,160,148 | (19,070,001) | (1,133,889) | (4,402,874) | 29,234,040 | 2,442,276 | 1,810,147 |
Schwab International Index Fund | 75,410,421 | 5,989,153 | (4,400,000) | (340,635) | (6,958,012) | 69,700,927 | 3,755,438 | 2,359,153 |
Schwab S&P 500 Index Fund | 229,515,716 | 8,869,564 | (45,190,000) | 28,857,575 | (13,254,962) | 208,797,893 | 4,114,244 | 4,594,565 |
Schwab Small-Cap Index Fund | 114,668,640 | 14,986,509 | (54,510,000) | 12,956,379 | (20,287,923) | 67,813,605 | 2,494,982 | 6,906,509 |
Schwab U.S. Aggregate Bond Index Fund | 120,769,170 | 26,934,213 | (30,329,464) | 962,543 | 3,042,567 | 121,379,029 | 11,301,586 | 2,974,682 |
Schwab U.S. Large-Cap Growth Index Fund | — | 26,270,000 | (6,710,001) | 691,780 | 5,229,409 | 25,481,188 | 406,010 | — |
Schwab U.S. REIT ETF | — | 36,079,504 | (1,627,561) | (687,019) | (6,075,346) | 27,689,578 | 807,983 | 458,642 |
Schwab Variable Share Price Money Fund, Ultra Shares | 33,651,006 | 3,269,108 | (17,350,000) | 4,565 | (7,268) | 19,567,411 | 19,559,587 | 239,820 |
Total | $809,809,492 | $143,250,366 | ($193,387,027) | $41,447,716 | ($62,556,859) | $738,563,688 | $27,580,684 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $738,563,688 | $— | $— | $738,563,688 | |
Short-Term Investments1 | — | 8,856,257 | — | 8,856,257 | |
Total | $738,563,688 | $8,856,257 | $— | $747,419,945 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $497,556,659) | $738,563,688 | |
Investments in unaffiliated issuers, at value (cost $8,856,257) | 8,856,257 | |
Receivables: | ||
Investments sold | 2,780,007 | |
Fund shares sold | 926,106 | |
Dividends | 232,747 | |
Prepaid expenses | + | 20,047 |
Total assets | 751,378,852 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,913,898 | |
Investment adviser and administrator fees | 88,545 | |
Shareholder service fees | 163,441 | |
Fund shares redeemed | 639,791 | |
Accrued expenses | + | 81,191 |
Total liabilities | 2,886,866 | |
Net Assets | ||
Total assets | 751,378,852 | |
Total liabilities | – | 2,886,866 |
Net assets | $748,491,986 | |
Net Assets by Source | ||
Capital received from investors | 456,848,899 | |
Total distributable earnings | 291,643,087 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$748,491,986 | 33,383,332 | $22.42 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $17,899,544 | |
Interest | + | 26,064 |
Total investment income | 17,925,608 | |
Expenses | ||
Investment adviser and administrator fees | 1,009,086 | |
Shareholder service fees | 1,862,445 | |
Shareholder reports | 62,541 | |
Registration fees | 34,913 | |
Portfolio accounting fees | 28,279 | |
Professional fees | 26,361 | |
Transfer agent fees | 14,772 | |
Independent trustees’ fees | 11,235 | |
Custodian fees | 1,775 | |
Other expenses | + | 11,460 |
Total expenses | 3,062,867 | |
Expense reduction by CSIM and its affiliates | – | 14,772 |
Net expenses | – | 3,048,095 |
Net investment income | 14,877,513 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 9,681,140 | |
Net realized gains on sales of affiliated underlying funds | + | 41,447,716 |
Net realized gains | 51,128,856 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (62,556,859) |
Net realized and unrealized losses | (11,428,003) | |
Increase in net assets resulting from operations | $3,449,510 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $14,877,513 | $14,441,539 | ||
Net realized gains | 51,128,856 | 31,540,675 | ||
Net change in unrealized appreciation (depreciation) | + | (62,556,859) | 28,613,519 | |
Increase in net assets from operations | 3,449,510 | 74,595,733 | ||
Distributions to Shareholders | ||||
Total distributions | ($46,215,156) | ($39,927,176) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 3,194,314 | $69,920,922 | 2,937,909 | $65,107,948 | ||||
Shares reinvested | 1,816,570 | 42,344,247 | 1,829,307 | 36,750,784 | ||||
Shares redeemed | + | (6,318,253) | (137,539,154) | (4,611,016) | (102,839,073) | |||
Net transactions in fund shares | (1,307,369) | ($25,273,985) | 156,200 | ($980,341) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 34,690,701 | $816,531,617 | 34,534,501 | $782,843,401 | ||||
Total increase or decrease | + | (1,307,369) | (68,039,631) | 156,200 | 33,688,216 | |||
End of period | 33,383,332 | $748,491,986 | 34,690,701 | $816,531,617 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $18.75 | $18.24 | $19.12 | $17.35 | $19.07 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.35 | 0.36 | 0.34 | 0.30 | 0.27 | |
Net realized and unrealized gains (losses) | 0.10 | 1.32 | (0.24) | 2.02 | 0.35 | |
Total from investment operations | 0.45 | 1.68 | 0.10 | 2.32 | 0.62 | |
Less distributions: | ||||||
Distributions from net investment income | (0.39) | (0.39) | (0.33) | (0.30) | (0.33) | |
Distributions from net realized gains | (0.43) | (0.78) | (0.65) | (0.25) | (2.01) | |
Total distributions | (0.82) | (1.17) | (0.98) | (0.55) | (2.34) | |
Net asset value at end of period | $18.38 | $18.75 | $18.24 | $19.12 | $17.35 | |
Total return | 2.37% | 10.14% | 0.44% | 13.71% | 3.92% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.40% | 0.40% | 0.40% | 0.40% | 0.41% | |
Gross operating expenses2 | 0.40% | 0.40% | 0.40% | 0.40% | 0.41% | |
Net investment income (loss) | 1.91% | 1.99% | 1.79% | 1.67% | 1.60% | |
Portfolio turnover rate | 22% | 11% | 8% | 46% 3 | 15% | |
Net assets, end of period (x 1,000,000) | $518 | $545 | $515 | $551 | $516 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.7% of net assets | ||
Equity Funds 59.8% | ||
International 14.9% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund | 1,692,183 | 12,691,376 |
Schwab Fundamental International Large Company Index Fund | 2,069,910 | 15,545,027 |
Schwab Fundamental International Small Company Index Fund | 1,141,818 | 13,085,236 |
Schwab International Index Fund | 1,932,045 | 35,858,755 |
77,180,394 | ||
Large-Cap 33.0% | ||
Schwab Fundamental US Large Company Index Fund | 2,838,726 | 46,214,451 |
Schwab S&P 500 Index Fund | 2,136,585 | 108,431,681 |
Schwab U.S. Large-Cap Growth Index Fund | 257,207 | 16,142,289 |
170,788,421 | ||
Real Estate 2.7% | ||
Schwab U.S. REIT ETF | 405,034 | 13,880,515 |
Small-Cap 9.2% | ||
Schwab Fundamental US Small Company Index Fund | 1,204,677 | 14,419,988 |
Schwab Small-Cap Index Fund | 1,226,610 | 33,339,271 |
47,759,259 | ||
309,608,589 | ||
Fixed-Income Funds 36.2% | ||
Intermediate-Term Bond 35.2% | ||
Schwab U.S. Aggregate Bond Index Fund | 16,965,754 | 182,212,199 |
Security | Number of Shares | Value ($) |
Short-Term Bond 1.0% | ||
Schwab Short-Term Bond Index Fund | 521,549 | 5,403,247 |
187,615,446 | ||
Money Market Fund 2.7% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 13,761,952 | 13,767,457 |
Total Affiliated Underlying Funds | ||
(Cost $375,943,680) | 510,991,492 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.2% of net assets | ||
Time Deposits 1.2% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (b) | 5,212,778 | 5,212,778 |
Skandinaviska Enskilda Banken | ||
0.01%, 11/02/20 (b) | 913,590 | 913,590 |
Total Short-Term Investments | ||
(Cost $6,126,368) | 6,126,368 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Schwab Fundamental Emerging Markets Large Company Index Fund | $13,985,994 | $2,288,100 | ($1,150,000) | ($128,872) | ($2,303,846) | $12,691,376 | 1,692,183 | $548,100 |
Schwab Fundamental International Large Company Index Fund | 16,361,563 | 2,255,633 | (520,000) | (125,873) | (2,426,296) | 15,545,027 | 2,069,910 | 605,633 |
Schwab Fundamental International Small Company Index Fund | 13,942,514 | 1,973,121 | (1,950,000) | (100,622) | (779,777) | 13,085,236 | 1,141,818 | 383,121 |
Schwab Fundamental US Large Company Index Fund | 49,891,262 | 7,941,363 | (8,485,000) | 361,513 | (3,494,687) | 46,214,451 | 2,838,726 | 2,591,363 |
Schwab Fundamental US Small Company Index Fund | 24,552,319 | 3,402,956 | (10,990,000) | (710,614) | (1,834,673) | 14,419,988 | 1,204,677 | 912,956 |
Schwab International Index Fund | 38,010,985 | 4,229,143 | (2,840,001) | (70,886) | (3,470,486) | 35,858,755 | 1,932,045 | 1,189,143 |
Schwab S&P 500 Index Fund | 114,675,422 | 9,125,313 | (24,005,000) | 12,958,251 | (4,322,305) | 108,431,681 | 2,136,585 | 2,275,313 |
Schwab Short-Term Bond Index Fund | — | 6,017,359 | (685,735) | — | 71,623 | 5,403,247 | 521,549 | 51,631 |
Schwab Small-Cap Index Fund | 56,788,172 | 8,543,448 | (28,470,000) | 6,790,168 | (10,312,517) | 33,339,271 | 1,226,610 | 3,443,449 |
Schwab U.S. Aggregate Bond Index Fund | 189,452,490 | 31,779,584 | (45,186,810) | 1,497,274 | 4,669,661 | 182,212,199 | 16,965,754 | 4,559,509 |
Schwab U.S. Large-Cap Growth Index Fund | — | 16,050,000 | (3,760,000) | 539,467 | 3,312,822 | 16,142,289 | 257,207 | — |
Schwab U.S. REIT ETF | — | 18,258,171 | (1,078,345) | (249,787) | (3,049,524) | 13,880,515 | 405,034 | 235,543 |
Schwab Variable Share Price Money Fund, Ultra Shares | 23,045,463 | 1,683,413 | (10,960,000) | 2,727 | (4,146) | 13,767,457 | 13,761,952 | 163,360 |
Total | $540,706,184 | $113,547,604 | ($140,080,891) | $20,762,746 | ($23,944,151) | $510,991,492 | $16,959,121 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $510,991,492 | $— | $— | $510,991,492 | |
Short-Term Investments1 | — | 6,126,368 | — | 6,126,368 | |
Total | $510,991,492 | $6,126,368 | $— | $517,117,860 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $375,943,680) | $510,991,492 | |
Investments in unaffiliated issuers, at value (cost $6,126,368) | 6,126,368 | |
Receivables: | ||
Investments sold | 1,830,005 | |
Dividends | 356,614 | |
Fund shares sold | 276,139 | |
Prepaid expenses | + | 17,391 |
Total assets | 519,598,009 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,506,509 | |
Investment adviser and administrator fees | 60,659 | |
Shareholder service fees | 112,537 | |
Fund shares redeemed | 239,421 | |
Accrued expenses | + | 59,749 |
Total liabilities | 1,978,875 | |
Net Assets | ||
Total assets | 519,598,009 | |
Total liabilities | – | 1,978,875 |
Net assets | $517,619,134 | |
Net Assets by Source | ||
Capital received from investors | 358,511,508 | |
Total distributable earnings | 159,107,626 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$517,619,134 | 28,154,862 | $18.38 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $12,122,036 | |
Interest | + | 15,037 |
Total investment income | 12,137,073 | |
Expenses | ||
Investment adviser and administrator fees | 686,149 | |
Shareholder service fees | 1,274,818 | |
Shareholder reports | 34,995 | |
Registration fees | 32,681 | |
Portfolio accounting fees | 25,895 | |
Professional fees | 24,078 | |
Independent trustees’ fees | 10,105 | |
Transfer agent fees | 9,640 | |
Custodian fees | 2,033 | |
Other expenses | + | 8,691 |
Total expenses | 2,109,085 | |
Expense reduction by CSIM and its affiliates | – | 9,640 |
Net expenses | – | 2,099,445 |
Net investment income | 10,037,628 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 4,837,085 | |
Net realized gains on sales of affiliated underlying funds | + | 20,762,746 |
Net realized gains | 25,599,831 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (23,944,151) |
Net realized and unrealized gains | 1,655,680 | |
Increase in net assets resulting from operations | $11,693,308 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $10,037,628 | $10,507,329 | ||
Net realized gains | 25,599,831 | 12,873,385 | ||
Net change in unrealized appreciation (depreciation) | + | (23,944,151) | 27,918,849 | |
Increase in net assets from operations | 11,693,308 | 51,299,563 | ||
Distributions to Shareholders | ||||
Total distributions | ($23,741,670) | ($32,704,957) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 3,534,438 | $63,437,613 | 4,645,103 | $82,462,045 | ||||
Shares reinvested | 1,162,605 | 21,612,831 | 1,824,301 | 29,754,346 | ||||
Shares redeemed | + | (5,586,534) | (99,936,630) | (5,649,914) | (100,958,347) | |||
Net transactions in fund shares | (889,491) | ($14,886,186) | 819,490 | $11,258,044 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 29,044,353 | $544,553,682 | 28,224,863 | $514,701,032 | ||||
Total increase or decrease | + | (889,491) | (26,934,548) | 819,490 | 29,852,650 | |||
End of period | 28,154,862 | $517,619,134 | 29,044,353 | $544,553,682 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $16.43 | $15.63 | $16.27 | $15.31 | $15.94 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.30 | 0.35 | 0.31 | 0.27 | 0.24 | |
Net realized and unrealized gains (losses) | 0.27 | 1.18 | (0.38) | 1.09 | 0.30 | |
Total from investment operations | 0.57 | 1.53 | (0.07) | 1.36 | 0.54 | |
Less distributions: | ||||||
Distributions from net investment income | (0.31) | (0.36) | (0.32) | (0.28) | (0.27) | |
Distributions from net realized gains | (0.19) | (0.37) | (0.25) | (0.12) | (0.90) | |
Total distributions | (0.50) | (0.73) | (0.57) | (0.40) | (1.17) | |
Net asset value at end of period | $16.50 | $16.43 | $15.63 | $16.27 | $15.31 | |
Total return | 3.57% | 10.31% | (0.49%) | 9.07% | 3.68% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.42% | 0.43% | 0.41% | 0.42% | 0.43% | |
Gross operating expenses2 | 0.42% | 0.43% | 0.41% | 0.42% | 0.44% | |
Net investment income (loss) | 1.84% | 2.19% | 1.93% | 1.71% | 1.61% | |
Portfolio turnover rate | 35% | 26% | 9% | 74% 3 | 10% | |
Net assets, end of period (x 1,000,000) | $279 | $263 | $239 | $251 | $238 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 99.4% of net assets | ||
Equity Funds 40.1% | ||
International 10.0% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund | 613,825 | 4,603,691 |
Schwab Fundamental International Large Company Index Fund | 730,852 | 5,488,699 |
Schwab Fundamental International Small Company Index Fund | 424,631 | 4,866,268 |
Schwab International Index Fund | 695,115 | 12,901,329 |
27,859,987 | ||
Large-Cap 22.1% | ||
Schwab Fundamental US Large Company Index Fund | 1,028,986 | 16,751,890 |
Schwab S&P 500 Index Fund | 771,915 | 39,174,699 |
Schwab U.S. Large-Cap Growth Index Fund | 89,908 | 5,642,623 |
61,569,212 | ||
Real Estate 2.0% | ||
Schwab U.S. REIT ETF | 162,751 | 5,577,477 |
Small-Cap 6.0% | ||
Schwab Fundamental US Small Company Index Fund | 403,700 | 4,832,284 |
Schwab Small-Cap Index Fund | 439,081 | 11,934,226 |
16,766,510 | ||
111,773,186 | ||
Fixed-Income Funds 56.0% | ||
Intermediate-Term Bond 54.9% | ||
Schwab U.S. Aggregate Bond Index Fund | 14,264,340 | 153,199,010 |
Security | Number of Shares | Value ($) |
Short-Term Bond 1.1% | ||
Schwab Short-Term Bond Index Fund | 286,487 | 2,968,009 |
Money Market Fund 3.3% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 9,215,287 | 9,218,973 |
Total Affiliated Underlying Funds | ||
(Cost $222,938,922) | 277,159,178 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.6% of net assets | ||
Time Deposit 0.6% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.01%, 11/02/20 (b) | 1,812,113 | 1,812,113 |
Total Short-Term Investment | ||
(Cost $1,812,113) | 1,812,113 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Schwab Fundamental Emerging Markets Large Company Index Fund | $4,603,496 | $1,810,407 | ($900,000) | ($123,841) | ($786,371) | $4,603,691 | 613,825 | $180,407 |
Schwab Fundamental International Large Company Index Fund | 5,300,132 | 2,364,199 | (1,340,000) | (61,234) | (774,398) | 5,488,699 | 730,852 | 184,199 |
Schwab Fundamental International Small Company Index Fund | 4,204,530 | 1,580,583 | (620,000) | (37,518) | (261,327) | 4,866,268 | 424,631 | 120,583 |
Schwab Fundamental US Large Company Index Fund | 16,081,095 | 7,102,579 | (5,400,000) | (51,862) | (979,922) | 16,751,890 | 1,028,986 | 842,581 |
Schwab Fundamental US Small Company Index Fund | 8,140,482 | 1,905,423 | (4,460,000) | (180,351) | (573,270) | 4,832,284 | 403,700 | 295,423 |
Schwab International Index Fund | 12,298,142 | 3,914,738 | (2,100,000) | (113,098) | (1,098,453) | 12,901,329 | 695,115 | 384,737 |
Schwab S&P 500 Index Fund | 37,203,924 | 13,239,187 | (14,560,000) | 939,392 | 2,352,196 | 39,174,699 | 771,915 | 739,187 |
Schwab Short-Term Bond Index Fund | — | 3,231,825 | (303,552) | 1,722 | 38,014 | 2,968,009 | 286,487 | 28,277 |
Schwab Small-Cap Index Fund | 18,249,017 | 5,452,850 | (10,660,000) | 1,519,779 | (2,627,420) | 11,934,226 | 439,081 | 1,102,850 |
Schwab U.S. Aggregate Bond Index Fund | 144,260,615 | 44,889,923 | (40,731,635) | 726,996 | 4,053,111 | 153,199,010 | 14,264,340 | 3,735,141 |
Schwab U.S. Large-Cap Growth Index Fund | — | 5,910,001 | (1,640,000) | 214,608 | 1,158,014 | 5,642,623 | 89,908 | — |
Schwab U.S. REIT ETF | — | 7,860,200 | (959,126) | (272,925) | (1,050,672) | 5,577,477 | 162,751 | 94,341 |
Schwab Variable Share Price Money Fund, Ultra Shares | 10,780,838 | 10,088,607 | (11,650,000) | 4,583 | (5,055) | 9,218,973 | 9,215,287 | 79,268 |
Total | $261,122,271 | $109,350,522 | ($95,324,313) | $2,566,251 | ($555,553) | $277,159,178 | $7,786,994 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $277,159,178 | $— | $— | $277,159,178 | |
Short-Term Investment1 | — | 1,812,113 | — | 1,812,113 | |
Total | $277,159,178 | $1,812,113 | $— | $278,971,291 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $222,938,922) | $277,159,178 | |
Investments in unaffiliated issuers, at value (cost $1,812,113) | 1,812,113 | |
Receivables: | ||
Investments sold | 2,640,874 | |
Fund shares sold | 431,023 | |
Dividends | 315,069 | |
Prepaid expenses | + | 20,453 |
Total assets | 282,378,710 | |
Liabilities | ||
Payables: | ||
Investments bought | 314,864 | |
Investment adviser and administrator fees | 34,229 | |
Shareholder service fees | 63,736 | |
Fund shares redeemed | 3,034,970 | |
Accrued expenses | + | 48,262 |
Total liabilities | 3,496,061 | |
Net Assets | ||
Total assets | 282,378,710 | |
Total liabilities | – | 3,496,061 |
Net assets | $278,882,649 | |
Net Assets by Source | ||
Capital received from investors | 223,048,809 | |
Total distributable earnings | 55,833,840 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$278,882,649 | 16,904,752 | $16.50 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $6,228,005 | |
Interest | + | 7,933 |
Total investment income | 6,235,938 | |
Expenses | ||
Investment adviser and administrator fees | 360,010 | |
Shareholder service fees | 675,573 | |
Registration fees | 34,785 | |
Portfolio accounting fees | 23,232 | |
Shareholder reports | 22,003 | |
Professional fees | 21,735 | |
Independent trustees’ fees | 8,958 | |
Transfer agent fees | 5,208 | |
Custodian fees | 1,643 | |
Other expenses | + | 5,888 |
Total expenses | 1,159,035 | |
Expense reduction by CSIM and its affiliates | – | 5,208 |
Net expenses | – | 1,153,827 |
Net investment income | 5,082,111 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,558,989 | |
Net realized gains on sales of affiliated underlying funds | + | 2,566,251 |
Net realized gains | 4,125,240 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (555,553) |
Net realized and unrealized gains | 3,569,687 | |
Increase in net assets resulting from operations | $8,651,798 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $5,082,111 | $5,503,537 | ||
Net realized gains | 4,125,240 | 2,283,185 | ||
Net change in unrealized appreciation (depreciation) | + | (555,553) | 16,814,789 | |
Increase in net assets from operations | 8,651,798 | 24,601,511 | ||
Distributions to Shareholders | ||||
Total distributions | ($8,266,008) | ($11,877,962) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 5,944,934 | $97,316,710 | 5,250,695 | $82,352,774 | ||||
Shares reinvested | 435,195 | 7,084,017 | 706,231 | 10,568,989 | ||||
Shares redeemed | + | (5,509,526) | (89,276,819) | (5,219,713) | (81,340,605) | |||
Net transactions in fund shares | 870,603 | $15,123,908 | 737,213 | $11,581,158 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 16,034,149 | $263,372,951 | 15,296,936 | $239,068,244 | ||||
Total increase | + | 870,603 | 15,509,698 | 737,213 | 24,304,707 | |||
End of period | 16,904,752 | $278,882,649 | 16,034,149 | $263,372,951 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab MarketTrack All Equity Portfolio | Schwab Target 2040 Fund |
Schwab MarketTrack Growth Portfolio | Schwab Target 2045 Fund |
Schwab MarketTrack Balanced Portfolio | Schwab Target 2050 Fund |
Schwab MarketTrack Conservative Portfolio | Schwab Target 2055 Fund |
Schwab S&P 500 Index Fund | Schwab Target 2060 Fund |
Schwab Small-Cap Index Fund® | Schwab Fundamental US Large Company Index Fund |
Schwab Total Stock Market Index Fund® | Schwab Fundamental US Small Company Index Fund |
Schwab U.S. Large-Cap Growth Index Fund | Schwab Fundamental International Large Company Index Fund |
Schwab U.S. Large-Cap Value Index Fund | Schwab Fundamental International Small Company Index Fund |
Schwab U.S. Mid-Cap Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab International Index Fund® | Schwab Fundamental Global Real Estate Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2010 Index Fund |
Schwab Balanced Fund | Schwab Target 2015 Index Fund |
Schwab Core Equity Fund | Schwab Target 2020 Index Fund |
Schwab Dividend Equity Fund | Schwab Target 2025 Index Fund |
Schwab Large-Cap Growth Fund | Schwab Target 2030 Index Fund |
Schwab Small-Cap Equity Fund | Schwab Target 2035 Index Fund |
Schwab Hedged Equity Fund | Schwab Target 2040 Index Fund |
Schwab Health Care Fund | Schwab Target 2045 Index Fund |
Schwab International Core Equity Fund | Schwab Target 2050 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2020 Fund | Schwab Monthly Income Fund - Moderate Payout |
Schwab Target 2025 Fund | Schwab Monthly Income Fund - Enhanced Payout |
Schwab Target 2030 Fund | Schwab Monthly Income Fund - Maximum Payout |
Schwab Target 2035 Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio |
0.50% | 0.50% | 0.50% | 0.50% |
Underlying Funds | Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio |
Schwab Fundamental Emerging Markets Large Company Index Fund | 5.8% | 4.5% | 2.3% | 0.8% |
Schwab Fundamental International Large Company Index Fund | 3.9% | 3.1% | 1.6% | 0.6% |
Schwab Fundamental International Small Company Index Fund | 5.4% | 4.3% | 2.3% | 0.8% |
Schwab Fundamental US Large Company Index Fund | 1.8% | 2.0% | 1.0% | 0.4% |
Schwab Fundamental US Small Company Index Fund | 2.1% | 2.1% | 1.0% | 0.3% |
Schwab International Index Fund | 1.4% | 1.2% | 0.6% | 0.2% |
Schwab S&P 500 Index Fund | 0.4% | 0.5% | 0.2% | 0.1% |
Schwab Short-Term Bond Index Fund | —% | —% | 0.3% | 0.2% |
Schwab Small-Cap Index Fund | 1.6% | 1.7% | 0.8% | 0.3% |
Schwab U.S. Aggregate Bond Index Fund | —% | 2.5% | 3.8% | 3.2% |
Schwab U.S. Large-Cap Growth Index Fund | 6.4% | 5.2% | 3.3% | 1.2% |
Schwab U.S. REIT ETF | 0.7% | 0.7% | 0.3% | 0.1% |
Schwab Variable Share Price Money Fund, Ultra Shares | —% | 0.5% | 0.4% | 0.2% |
5. Board of Trustees:
7. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities | |
Schwab MarketTrack All Equity Portfolio | $115,862,291 | $148,200,000 |
Schwab MarketTrack Growth Portfolio | 143,250,366 | 193,387,027 |
Schwab MarketTrack Balanced Portfolio | 113,547,604 | 140,080,891 |
Schwab MarketTrack Conservative Portfolio | 109,350,522 | 95,324,313 |
8. Federal Income Taxes:
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | ||||
Tax cost | $442,462,478 | $508,103,979 | $386,191,026 | $228,128,200 | |||
Gross unrealized appreciation | $201,190,755 | $248,542,267 | $142,560,393 | $55,385,917 | |||
Gross unrealized depreciation | (21,155,720) | (9,226,301) | (11,633,559) | (4,542,826) | |||
Net unrealized appreciation (depreciation) | $180,035,035 | $239,315,966 | $130,926,834 | $50,843,091 |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | ||||
Undistributed ordinary income | $— | $614,921 | $2,982,542 | $971,204 | |||
Undistributed long-term capital gains | 39,351,108 | 51,712,200 | 25,198,250 | 4,019,545 | |||
Net unrealized appreciation (depreciation) on investments | 180,035,035 | 239,315,966 | 130,926,834 | 50,843,091 | |||
Total | $219,386,143 | $291,643,087 | $159,107,626 | $55,833,840 |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | |
Ordinary losses deferred | ($1,603,991) | $— | $— | $— |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | |
Current fiscal year end distributions | ||||
Ordinary income | $19,507,535 | $16,953,005 | $12,876,300 | $5,723,865 |
Long-term capital gains | 25,182,760 | 29,262,151 | 10,865,370 | 2,542,143 |
Prior fiscal year end distributions | ||||
Ordinary income | $13,644,585 | $16,219,023 | $10,931,597 | $5,884,258 |
Long-term capital gains | 14,361,968 | 23,708,153 | 21,773,360 | 5,993,704 |
9. Independent Registered Public Accounting Firm:
Denver, Colorado
December 16, 2020
Foreign Tax Credit | Foreign Source Income | |
Schwab MarketTrack All Equity Portfolio | $728,235 | $6,494,759 |
Schwab MarketTrack Growth Portfolio | 575,370 | 5,131,112 |
Schwab MarketTrack Balanced Portfolio | 289,948 | 2,582,406 |
Schwab MarketTrack Conservative Portfolio | 92,687 | 824,270 |
Percentage | |
Schwab MarketTrack All Equity Portfolio | 48.83 |
Schwab MarketTrack Growth Portfolio | 48.96 |
Schwab MarketTrack Balanced Portfolio | 33.26 |
Schwab MarketTrack Conservative Portfolio | 21.33 |
Schwab MarketTrack All Equity Portfolio | $18,047,189 |
Schwab MarketTrack Growth Portfolio | 14,198,525 |
Schwab MarketTrack Balanced Portfolio | 7,156,364 |
Schwab MarketTrack Conservative Portfolio | 2,040,585 |
Schwab MarketTrack All Equity Portfolio | $25,182,760 |
Schwab MarketTrack Growth Portfolio | 29,262,151 |
Schwab MarketTrack Balanced Portfolio | 10,865,370 |
Schwab MarketTrack Conservative Portfolio | 2,542,143 |
1. | the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | each Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
1 | The meeting on June 9, 2020 was held telephonically in reliance on exemptive relief from the in-person voting requirement under the 1940 Act as provided by the Securities and Exchange Commission. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 100 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 100 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 100 | None |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting). | 100 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 100 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 100 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 100 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 100 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors). | 100 | Director (2012 – present), Eaton Corporation plc |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 100 | Director (2008 – present), The Charles Schwab Corporation |
Interested Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jonathan de St. Paer2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. | 100 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 100 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Mr. de St. Paer and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
New Notice Regarding Shareholder Report Delivery Options |
Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/schwabfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically. |
If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request: |
• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing; |
• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or |
• If owned directly through a fund by calling 1-800-407-0256. |
If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action. |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab Target 2010 Fund (Ticker Symbol: SWBRX) | 6.38% |
Target 2010 Composite Index | 5.24% |
Fund Category: Morningstar Target-Date 2000-20101 | 5.55% |
Performance Details | pages 8-10 |
Schwab Target 2015 Fund (Ticker Symbol: SWGRX) | 6.41% |
Target 2015 Composite Index | 5.12% |
Fund Category: Morningstar Target-Date 20151 | 5.34% |
Performance Details | pages 11-13 |
Schwab Target 2020 Fund (Ticker Symbol: SWCRX) | 6.33% |
Target 2020 Composite Index | 5.10% |
Fund Category: Morningstar Target-Date 20201 | 4.65% |
Performance Details | pages 14-16 |
Schwab Target 2025 Fund (Ticker Symbol: SWHRX) | 5.98% |
Target 2025 Composite Index | 4.46% |
Fund Category: Morningstar Target-Date 20251 | 5.01% |
Performance Details | pages 17-19 |
Schwab Target 2030 Fund (Ticker Symbol: SWDRX) | 5.81% |
Target 2030 Composite Index | 3.98% |
Fund Category: Morningstar Target-Date 20301 | 5.10% |
Performance Details | pages 20-22 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
Total Return for the 12 Months Ended October 31, 2020 | |
Schwab Target 2035 Fund (Ticker Symbol: SWIRX) | 5.51% |
Target 2035 Composite Index | 3.63% |
Fund Category: Morningstar Target-Date 20351 | 5.12% |
Performance Details | pages 23-25 |
Schwab Target 2040 Fund (Ticker Symbol: SWERX) | 5.31% |
Target 2040 Composite Index | 3.33% |
Fund Category: Morningstar Target-Date 20401 | 4.74% |
Performance Details | pages 26-28 |
Schwab Target 2045 Fund (Ticker Symbol: SWMRX) | 5.10% |
Target 2045 Composite Index | 3.00% |
Fund Category: Morningstar Target-Date 20451 | 4.73% |
Performance Details | pages 29-31 |
Schwab Target 2050 Fund (Ticker Symbol: SWNRX) | 4.96% |
Target 2050 Composite Index | 2.80% |
Fund Category: Morningstar Target-Date 20501 | 4.49% |
Performance Details | pages 32-34 |
Schwab Target 2055 Fund (Ticker Symbol: SWORX) | 4.86% |
Target 2055 Composite Index | 2.67% |
Fund Category: Morningstar Target-Date 20551 | 4.61% |
Performance Details | pages 35-37 |
Schwab Target 2060 Fund (Ticker Symbol: SWPRX) | 4.73% |
Target 2060 Composite Index | 2.51% |
Fund Category: Morningstar Target-Date 2060+1 | 4.49% |
Performance Details | pages 38-40 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
President of Charles Schwab
Investment Management, Inc.
and the funds covered
in this report.
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
Zifan Tang, Ph.D., CFA, Senior Portfolio Manager, is responsible for the co-management of the funds. Prior to joining CSIM in January 2012, Ms. Tang was a product manager at Thomson Reuters and from 1997 to 2009 worked as a portfolio manager at Barclays Global Investors (now known as BlackRock). |
Patrick Kwok, CFA, Portfolio Manager, is responsible for the co-management of the funds. Previously, Mr. Kwok served as an associate portfolio manager with CSIM from 2012 to 2016. Prior to that, he worked as a fund administration manager for CSIM, where he was responsible for oversight of sub-advisers, trading, cash management, and fund administration for the Charles Schwab Trust Bank Collective Investment Trusts and Schwab’s multi-asset mutual funds. Prior to joining CSIM in 2008, Mr. Kwok spent two years as an asset operations specialist at Charles Schwab Trust Company. He also worked for one year at State Street Bank & Trust as a portfolio accountant and pricing specialist. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2010 Fund (7/1/05) | 6.38% | 5.54% | 5.76% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.75% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Target 2010 Composite Index | 5.24% | 5.69% | 5.82% |
Fund Category: Morningstar Target-Date 2000-20102 | 5.55% | 5.62% | 5.66% |
Fund Expense Ratios3: Net 0.32%; Gross 0.49% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.32% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 20 |
Portfolio Turnover Rate | 27% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | Percentages may not add up to 100% due to rounding. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2015 Fund (3/12/08) | 6.41% | 5.63% | 6.20% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.75% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Target 2015 Composite Index | 5.12% | 5.79% | 6.24% |
Fund Category: Morningstar Target-Date 20152 | 5.34% | 5.99% | 6.33% |
Fund Expense Ratios3: Net 0.34%; Gross 0.45% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.34% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 21 |
Portfolio Turnover Rate | 15% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2020 Fund (7/1/05) | 6.33% | 6.08% | 7.02% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.75% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Target 2020 Composite Index | 5.10% | 6.31% | 7.12% |
Fund Category: Morningstar Target-Date 20202 | 4.65% | 5.89% | 6.40% |
Fund Expense Ratios3: Net 0.38%; Gross 0.41% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.38% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 20 |
Portfolio Turnover Rate | 17% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2025 Fund (3/12/08) | 5.98% | 6.53% | 7.68% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.75% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Target 2025 Composite Index | 4.46% | 6.82% | 7.79% |
Fund Category: Morningstar Target-Date 20252 | 5.01% | 6.48% | 7.03% |
Fund Expense Ratios3: Net 0.48%; Gross 0.51% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.48% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 22 |
Portfolio Turnover Rate | 16% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2030 Fund (7/1/05) | 5.81% | 6.84% | 8.12% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.75% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Target 2030 Composite Index | 3.98% | 7.17% | 8.27% |
Fund Category: Morningstar Target-Date 20302 | 5.10% | 6.95% | 7.43% |
Fund Expense Ratios3: Net 0.55%; Gross 0.57% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.55% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 23 |
Portfolio Turnover Rate | 13% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | Percentages may not add up to 100% due to rounding. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2035 Fund (3/12/08) | 5.51% | 7.04% | 8.52% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.75% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Target 2035 Composite Index | 3.63% | 7.44% | 8.69% |
Fund Category: Morningstar Target-Date 20352 | 5.12% | 7.40% | 7.96% |
Fund Expense Ratios3: Net 0.60%; Gross 0.63% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.60% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 21 |
Portfolio Turnover Rate | 12% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2040 Fund (7/1/05) | 5.31% | 7.21% | 8.82% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.75% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.55% |
Target 2040 Composite Index | 3.33% | 7.69% | 9.01% |
Fund Category: Morningstar Target-Date 20402 | 4.74% | 7.52% | 8.08% |
Fund Expense Ratios3: Net 0.65%; Gross 0.67% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.65% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 21 |
Portfolio Turnover Rate | 10% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | Percentages may not add up to 100% due to rounding. |
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2045 Fund (1/23/13) | 5.10% | 7.31% | 8.41% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.52% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.28% |
Target 2045 Composite Index | 3.00% | 7.81% | 8.79% |
Fund Category: Morningstar Target-Date 20452 | 4.73% | 7.72% | N/A |
Fund Expense Ratios3: Net 0.69%; Gross 0.77% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.69% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 21 |
Portfolio Turnover Rate | 6% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2050 Fund (1/23/13) | 4.96% | 7.35% | 8.54% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.52% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.28% |
Target 2050 Composite Index | 2.80% | 7.88% | 8.92% |
Fund Category: Morningstar Target-Date 20502 | 4.49% | 7.69% | N/A |
Fund Expense Ratios3: Net 0.71%; Gross 0.79% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.71% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 21 |
Portfolio Turnover Rate | 5% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2055 Fund (1/23/13) | 4.86% | 7.40% | 8.60% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 11.41% | 12.52% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 4.08% | 3.28% |
Target 2055 Composite Index | 2.67% | 7.95% | 9.01% |
Fund Category: Morningstar Target-Date 20552 | 4.61% | 7.81% | N/A |
Fund Expense Ratios3: Net 0.73%; Gross 0.86% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.73% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 20 |
Portfolio Turnover Rate | 6% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Fund: Schwab Target 2060 Fund (8/25/16) | 4.73% | 4.52% | 8.15% |
Dow Jones U.S. Total Stock Market IndexSM | 9.99% | 9.95% | 12.12% |
Bloomberg Barclays US Aggregate Bond Index | 6.19% | 5.06% | 3.64% |
Target 2060 Composite Index | 2.51% | 5.29% | 8.32% |
Fund Category: Morningstar Target-Date 2060+2 | 4.49% | 5.44% | N/A |
Fund Expense Ratios3: Net 0.74%; Gross 1.41% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes 0.74% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 20 |
Portfolio Turnover Rate | 8% |
1 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
2 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed-income securities, exchange-traded funds, and cash equivalents, including money market securities. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Expense Ratio (Annualized)1,2 | Effective Expense Ratio (Annualized)3,4 | Beginning Account Value at 5/1/20 | Ending Account Value (Net of Expenses) at 10/31/202 | Expenses Paid During Period 5/1/20-10/31/202,5 | Effective Expenses Paid During Period 5/1/20-10/31/204,5 | |
Schwab Target 2010 Fund | ||||||
Actual Return | 0.00% | 0.32% | $1,000.00 | $1,064.20 | $0.00 | $1.66 |
Hypothetical 5% Return | 0.00% | 0.32% | $1,000.00 | $1,025.10 | $0.00 | $1.63 |
Schwab Target 2015 Fund | ||||||
Actual Return | 0.00% | 0.34% | $1,000.00 | $1,067.50 | $0.00 | $1.77 |
Hypothetical 5% Return | 0.00% | 0.34% | $1,000.00 | $1,025.10 | $0.00 | $1.73 |
Schwab Target 2020 Fund | ||||||
Actual Return | 0.00% | 0.35% | $1,000.00 | $1,069.90 | $0.00 | $1.82 |
Hypothetical 5% Return | 0.00% | 0.35% | $1,000.00 | $1,025.10 | $0.00 | $1.78 |
Schwab Target 2025 Fund | ||||||
Actual Return | 0.00% | 0.46% | $1,000.00 | $1,089.80 | $0.00 | $2.42 |
Hypothetical 5% Return | 0.00% | 0.46% | $1,000.00 | $1,025.10 | $0.00 | $2.34 |
Schwab Target 2030 Fund | ||||||
Actual Return | 0.00% | 0.54% | $1,000.00 | $1,105.90 | $0.00 | $2.86 |
Hypothetical 5% Return | 0.00% | 0.54% | $1,000.00 | $1,025.10 | $0.00 | $2.75 |
Schwab Target 2035 Fund | ||||||
Actual Return | 0.00% | 0.59% | $1,000.00 | $1,115.60 | $0.00 | $3.14 |
Hypothetical 5% Return | 0.00% | 0.59% | $1,000.00 | $1,025.10 | $0.00 | $3.00 |
Schwab Target 2040 Fund | ||||||
Actual Return | 0.00% | 0.64% | $1,000.00 | $1,126.20 | $0.00 | $3.42 |
Hypothetical 5% Return | 0.00% | 0.64% | $1,000.00 | $1,025.10 | $0.00 | $3.25 |
Schwab Target 2045 Fund | ||||||
Actual Return | 0.00% | 0.68% | $1,000.00 | $1,135.50 | $0.00 | $3.65 |
Hypothetical 5% Return | 0.00% | 0.68% | $1,000.00 | $1,025.10 | $0.00 | $3.46 |
Schwab Target 2050 Fund | ||||||
Actual Return | 0.00% | 0.71% | $1,000.00 | $1,139.70 | $0.00 | $3.82 |
Hypothetical 5% Return | 0.00% | 0.71% | $1,000.00 | $1,025.10 | $0.00 | $3.61 |
Schwab Target 2055 Fund | ||||||
Actual Return | 0.00% | 0.72% | $1,000.00 | $1,143.40 | $0.00 | $3.88 |
Hypothetical 5% Return | 0.00% | 0.72% | $1,000.00 | $1,025.10 | $0.00 | $3.66 |
Expense Ratio (Annualized)1,2 | Effective Expense Ratio (Annualized)3,4 | Beginning Account Value at 5/1/20 | Ending Account Value (Net of Expenses) at 10/31/202 | Expenses Paid During Period 5/1/20-10/31/202,5 | Effective Expenses Paid During Period 5/1/20-10/31/204,5 | |
Schwab Target 2060 Fund | ||||||
Actual Return | 0.00% | 0.74% | $1,000.00 | $1,147.60 | $0.00 | $3.99 |
Hypothetical 5% Return | 0.00% | 0.74% | $1,000.00 | $1,025.10 | $0.00 | $3.76 |
1 | Based on the most recent six-month expense ratio. |
2 | Excludes acquired fund fees and expenses, which are indirect expenses incurred by the fund through its investments in underlying funds. |
3 | Based on the most recent six-month acquired fund fees and expense ratio; may differ from the acquired fund fees and expenses ratios in the prospectus. |
4 | Includes acquired fund fees and expenses, which are indirect expenses incurred by the fund through its investments in underlying funds. |
5 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $13.57 | $13.06 | $13.42 | $12.52 | $12.42 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.27 | 0.30 | 0.29 | 0.22 | 0.20 | |
Net realized and unrealized gains (losses) | 0.57 | 0.97 | (0.35) | 0.90 | 0.12 | |
Total from investment operations | 0.84 | 1.27 | (0.06) | 1.12 | 0.32 | |
Less distributions: | ||||||
Distributions from net investment income | (0.34) | (0.34) | (0.30) | (0.22) | (0.22) | |
Distributions from net realized gains | (0.31) | (0.42) | — | — | — | |
Total distributions | (0.65) | (0.76) | (0.30) | (0.22) | (0.22) | |
Net asset value at end of period | $13.76 | $13.57 | $13.06 | $13.42 | $12.52 | |
Total return | 6.38% | 10.42% | (0.52%) | 9.11% | 2.68% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% | 0.00% | 0.00% 3 | 0.00% | 0.00% 3 | |
Gross operating expenses2 | 0.14% | 0.17% | 0.12% | 0.14% | 0.14% | |
Net investment income (loss) | 2.03% | 2.33% | 2.15% | 1.75% | 1.60% | |
Portfolio turnover rate | 27% | 13% | 16% | 51% 4 | 14% | |
Net assets, end of period (x 1,000,000) | $56 | $51 | $52 | $59 | $59 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 73.7% of net assets | ||
Equity Funds 27.8% | ||
Global Real Estate 1.5% | ||
Schwab Global Real Estate Fund | 137,882 | 847,973 |
International 9.4% | ||
Laudus International MarketMasters Fund | 141,726 | 3,453,864 |
Schwab International Core Equity Fund | 195,514 | 1,781,129 |
5,234,993 | ||
Large-Cap 15.1% | ||
Schwab Core Equity Fund | 114,227 | 2,540,417 |
Schwab Dividend Equity Fund | 6,263 | 76,027 |
Schwab S&P 500 Index Fund | 112,941 | 5,731,755 |
8,348,199 | ||
Mid-Cap 0.7% | ||
Schwab U.S. Mid-Cap Index Fund | 9,029 | 406,110 |
Small-Cap 1.1% | ||
Schwab Small-Cap Equity Fund | 40,495 | 608,229 |
15,445,504 | ||
Fixed-Income Funds 42.2% | ||
Inflation-Protected Bond 6.3% | ||
Schwab Treasury Inflation Protected Securities Index Fund | 285,605 | 3,472,960 |
Intermediate-Term Bond 25.9% | ||
Schwab U.S. Aggregate Bond Index Fund | 1,340,956 | 14,401,866 |
Short-Term Bond 10.0% | ||
Schwab Short-Term Bond Index Fund | 534,588 | 5,538,328 |
23,413,154 | ||
Money Market Fund 3.7% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 2,039,868 | 2,040,684 |
Total Affiliated Underlying Funds | ||
(Cost $34,989,562) | 40,899,342 | |
Unaffiliated Underlying Funds 25.4% of net assets | ||
Equity Funds 7.4% | ||
Large-Cap 6.4% | ||
ClearBridge Large Cap Growth Fund, Class IS | 31,824 | 2,013,522 |
Dodge & Cox Stock Fund | 9,584 | 1,565,470 |
3,578,992 |
Security | Number of Shares | Value ($) |
Small-Cap 1.0% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 11,951 | 541,483 |
4,120,475 | ||
Fixed-Income Funds 18.0% | ||
Intermediate-Term Bond 15.7% | ||
Baird Aggregate Bond Fund, Institutional Class | 248,510 | 2,927,445 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 58,266 | 689,866 |
Metropolitan West Total Return Bond Fund, Class I | 439,941 | 5,090,118 |
8,707,429 | ||
International Bond 2.3% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 113,330 | 1,251,158 |
9,958,587 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $12,897,507) | 14,079,062 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.9% of net assets | ||
Time Deposit 0.9% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (b) | 534,427 | 534,427 |
Total Short-Term Investment | ||
(Cost $534,427) | 534,427 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $2,895,314 | $1,013,326 | ($789,000) | $17,875 | $316,349 | $3,453,864 | 141,726 | $61,325 |
Schwab Core Equity Fund | 2,718,520 | 499,910 | (780,000) | 10,262 | 91,725 | 2,540,417 | 114,227 | 80,909 |
Schwab Dividend Equity Fund | 87,695 | 6,238 | — | — | (17,906) | 76,027 | 6,263 | 6,239 |
Schwab Global Real Estate Fund | 961,884 | 259,618 | (123,000) | (25,225) | (225,304) | 847,973 | 137,882 | 53,618 |
Schwab International Core Equity Fund | 1,983,635 | 325,461 | (350,000) | (39,041) | (138,926) | 1,781,129 | 195,514 | 71,462 |
Schwab S&P 500 Index Fund | 5,446,654 | 2,190,122 | (2,410,000) | 133,915 | 371,064 | 5,731,755 | 112,941 | 113,122 |
Schwab Short-Term Bond Index Fund | 5,052,710 | 1,480,231 | (1,119,685) | 10,737 | 114,335 | 5,538,328 | 534,588 | 93,550 |
Schwab Small-Cap Equity Fund | 743,230 | 100,833 | (154,000) | (87,179) | 5,345 | 608,229 | 40,495 | 833 |
Schwab Treasury Inflation Protected Securities Index Fund | 3,255,343 | 837,591 | (866,000) | (2,499) | 248,525 | 3,472,960 | 285,605 | 47,590 |
Schwab U.S. Aggregate Bond Index Fund | 11,796,171 | 5,864,163 | (3,708,624) | 14,269 | 435,887 | 14,401,866 | 1,340,956 | 336,520 |
Schwab U.S. Mid-Cap Index Fund | 375,464 | 170,491 | (163,000) | 5,263 | 17,892 | 406,110 | 9,029 | 9,491 |
Schwab Variable Share Price Money Fund, Ultra Shares | 3,307,470 | 423,456 | (1,690,000) | 531 | (773) | 2,040,684 | 2,039,868 | 20,580 |
Total | $38,624,090 | $13,171,440 | ($12,153,309) | $38,908 | $1,218,213 | $40,899,342 | $895,239 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $40,899,342 | $— | $— | $40,899,342 | |
Unaffiliated Underlying Funds1 | 14,079,062 | — | — | 14,079,062 | |
Short-Term Investment1 | — | 534,427 | — | 534,427 | |
Total | $54,978,404 | $534,427 | $— | $55,512,831 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $34,989,562) | $40,899,342 | |
Investments in unaffiliated funds and issuers, at value (cost $13,431,934) | 14,613,489 | |
Receivables: | ||
Fund shares sold | 65,603 | |
Dividends | 41,543 | |
Due from investment adviser | 5,531 | |
Prepaid expenses | + | 10,536 |
Total assets | 55,636,044 | |
Liabilities | ||
Payables: | ||
Investments bought | 96,385 | |
Accrued expenses | + | 32,887 |
Total liabilities | 129,272 | |
Net Assets | ||
Total assets | 55,636,044 | |
Total liabilities | – | 129,272 |
Net assets | $55,506,772 | |
Net Assets by Source | ||
Capital received from investors | 47,718,298 | |
Total distributable earnings | 7,788,474 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$55,506,772 | 4,035,122 | $13.76 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $809,484 | |
Dividends received from unaffiliated underlying funds | 277,149 | |
Interest | + | 1,655 |
Total investment income | 1,088,288 | |
Expenses | ||
Professional fees | 21,717 | |
Registration fees | 21,196 | |
Portfolio accounting fees | 11,485 | |
Independent trustees’ fees | 7,994 | |
Shareholder reports | 4,460 | |
Custodian fees | 1,842 | |
Transfer agent fees | 1,635 | |
Other expenses | + | 3,831 |
Total expenses | 74,160 | |
Expense reduction by CSIM and its affiliates | – | 74,160 |
Net expenses | – | — |
Net investment income | 1,088,288 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 85,755 | |
Realized capital gain distributions received from unaffiliated underlying funds | 233,637 | |
Net realized gains on sales of affiliated underlying funds | 38,908 | |
Net realized gains on sales of unaffiliated underlying funds | + | 33,354 |
Net realized gains | 391,654 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 1,218,213 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 534,192 |
Net change in unrealized appreciation (depreciation) | + | 1,752,405 |
Net realized and unrealized gains | 2,144,059 | |
Increase in net assets resulting from operations | $3,232,347 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $1,088,288 | $1,200,215 | ||
Net realized gains | 391,654 | 1,269,295 | ||
Net change in unrealized appreciation (depreciation) | + | 1,752,405 | 2,675,510 | |
Increase in net assets from operations | 3,232,347 | 5,145,020 | ||
Distributions to Shareholders | ||||
Total distributions | ($2,519,058) | ($2,901,734) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 1,235,019 | $16,620,379 | 451,805 | $5,747,022 | ||||
Shares reinvested | 172,129 | 2,273,818 | 218,767 | 2,638,341 | ||||
Shares redeemed | + | (1,139,051) | (15,206,801) | (886,220) | (11,518,751) | |||
Net transactions in fund shares | 268,097 | $3,687,396 | (215,648) | ($3,133,388) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 3,767,025 | $51,106,087 | 3,982,673 | $51,996,189 | ||||
Total increase or decrease | + | 268,097 | 4,400,685 | (215,648) | (890,102) | |||
End of period | 4,035,122 | $55,506,772 | 3,767,025 | $51,106,087 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.07 | $11.49 | $12.21 | $11.72 | $12.23 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.25 | 0.27 | 0.25 | 0.20 | 0.18 | |
Net realized and unrealized gains (losses) | 0.50 | 0.86 | (0.30) | 0.88 | 0.11 | |
Total from investment operations | 0.75 | 1.13 | (0.05) | 1.08 | 0.29 | |
Less distributions: | ||||||
Distributions from net investment income | (0.31) | (0.30) | (0.27) | (0.22) | (0.21) | |
Distributions from net realized gains | (0.33) | (0.25) | (0.40) | (0.37) | (0.59) | |
Total distributions | (0.64) | (0.55) | (0.67) | (0.59) | (0.80) | |
Net asset value at end of period | $12.18 | $12.07 | $11.49 | $12.21 | $11.72 | |
Total return | 6.41% | 10.48% | (0.57%) | 9.67% | 2.59% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% | 0.00% | 0.00% 3 | 0.00% | 0.00% 3 | |
Gross operating expenses2 | 0.10% | 0.11% | 0.07% | 0.09% | 0.08% | |
Net investment income (loss) | 2.07% | 2.35% | 2.12% | 1.74% | 1.59% | |
Portfolio turnover rate | 15% | 10% | 14% | 52% 4 | 14% | |
Net assets, end of period (x 1,000,000) | $77 | $81 | $90 | $103 | $104 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 73.3% of net assets | ||
Equity Funds 30.2% | ||
Global Real Estate 1.7% | ||
Schwab Global Real Estate Fund | 214,324 | 1,318,093 |
International 10.5% | ||
Laudus International MarketMasters Fund | 221,277 | 5,392,510 |
Schwab International Core Equity Fund | 302,431 | 2,755,151 |
8,147,661 | ||
Large-Cap 15.9% | ||
Schwab Core Equity Fund | 168,063 | 3,737,720 |
Schwab Dividend Equity Fund | 7,331 | 89,000 |
Schwab S&P 500 Index Fund | 165,874 | 8,418,126 |
12,244,846 | ||
Mid-Cap 0.8% | ||
Schwab U.S. Mid-Cap Index Fund | 13,531 | 608,622 |
Small-Cap 1.3% | ||
Schwab Small-Cap Equity Fund | 66,826 | 1,003,720 |
23,322,942 | ||
Fixed-Income Funds 40.2% | ||
Inflation-Protected Bond 6.2% | ||
Schwab Treasury Inflation Protected Securities Index Fund | 390,246 | 4,745,389 |
Intermediate-Term Bond 24.6% | ||
Schwab U.S. Aggregate Bond Index Fund | 1,772,803 | 19,039,900 |
Short-Term Bond 9.4% | ||
Schwab Short-Term Bond Index Fund | 701,306 | 7,265,534 |
31,050,823 | ||
Money Market Fund 2.9% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 2,289,013 | 2,289,929 |
Total Affiliated Underlying Funds | ||
(Cost $46,255,658) | 56,663,694 | |
Unaffiliated Underlying Funds 25.4% of net assets | ||
Equity Funds 7.7% | ||
Large-Cap 6.8% | ||
ClearBridge Large Cap Growth Fund, Class IS | 46,363 | 2,933,382 |
Dodge & Cox Stock Fund | 14,373 | 2,347,697 |
5,281,079 |
Security | Number of Shares | Value ($) |
Small-Cap 0.9% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 14,504 | 657,179 |
5,938,258 | ||
Fixed-Income Funds 17.7% | ||
Intermediate-Term Bond 15.5% | ||
Baird Aggregate Bond Fund, Institutional Class | 308,829 | 3,638,011 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 94,752 | 1,121,867 |
Metropolitan West Total Return Bond Fund, Class I | 621,740 | 7,193,532 |
11,953,410 | ||
International Bond 2.2% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 156,706 | 1,730,038 |
13,683,448 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $17,924,153) | 19,621,706 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.3% of net assets | ||
Time Deposits 1.3% | ||
BNP Paribas | ||
0.01%, 11/02/20 (b) | 176,953 | 176,953 |
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (b) | 776,229 | 776,229 |
Total Short-Term Investments | ||
(Cost $953,182) | 953,182 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $5,121,917 | $842,059 | ($1,107,000) | ($3,622) | $539,156 | $5,392,510 | 221,277 | $102,059 |
Schwab Core Equity Fund | 4,602,775 | 456,756 | (1,482,000) | 392,136 | (231,947) | 3,737,720 | 168,063 | 126,756 |
Schwab Dividend Equity Fund | 237,989 | 7,303 | (140,000) | 15,616 | (31,908) | 89,000 | 7,331 | 7,303 |
Schwab Global Real Estate Fund | 1,634,776 | 289,596 | (195,000) | (6,396) | (404,883) | 1,318,093 | 214,324 | 89,594 |
Schwab International Core Equity Fund | 3,436,913 | 370,383 | (762,000) | (77,187) | (212,958) | 2,755,151 | 302,431 | 120,383 |
Schwab S&P 500 Index Fund | 9,206,847 | 1,759,539 | (3,390,000) | 844,882 | (3,142) | 8,418,126 | 165,874 | 179,539 |
Schwab Short-Term Bond Index Fund | 7,539,057 | 841,255 | (1,288,726) | 18,250 | 155,698 | 7,265,534 | 701,306 | 128,539 |
Schwab Small-Cap Equity Fund | 1,389,668 | 1,394 | (257,000) | (2,412) | (127,930) | 1,003,720 | 66,826 | 1,394 |
Schwab Treasury Inflation Protected Securities Index Fund | 4,928,698 | 136,417 | (660,000) | 21,771 | 318,503 | 4,745,389 | 390,246 | 66,304 |
Schwab U.S. Aggregate Bond Index Fund | 17,696,214 | 3,461,645 | (2,723,009) | 10,564 | 594,486 | 19,039,900 | 1,772,803 | 460,592 |
Schwab U.S. Mid-Cap Index Fund | 583,167 | 74,742 | (80,000) | 5,567 | 25,146 | 608,622 | 13,531 | 14,742 |
Schwab Variable Share Price Money Fund, Ultra Shares | 4,837,629 | 32,756 | (2,580,000) | 911 | (1,367) | 2,289,929 | 2,289,013 | 28,538 |
Total | $61,215,650 | $8,273,845 | ($14,664,735) | $1,220,080 | $618,854 | $56,663,694 | $1,325,743 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $56,663,694 | $— | $— | $56,663,694 | |
Unaffiliated Underlying Funds1 | 19,621,706 | — | — | 19,621,706 | |
Short-Term Investments1 | — | 953,182 | — | 953,182 | |
Total | $76,285,400 | $953,182 | $— | $77,238,582 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $46,255,658) | $56,663,694 | |
Investments in unaffiliated funds and issuers, at value (cost $18,877,335) | 20,574,888 | |
Receivables: | ||
Investments sold | 36,001 | |
Dividends | 54,951 | |
Fund shares sold | 22,957 | |
Due from investment adviser | 5,442 | |
Prepaid expenses | + | 4,869 |
Total assets | 77,362,802 | |
Liabilities | ||
Payables: | ||
Investments bought | 54,734 | |
Fund shares redeemed | 19 | |
Accrued expenses | + | 33,756 |
Total liabilities | 88,509 | |
Net Assets | ||
Total assets | 77,362,802 | |
Total liabilities | – | 88,509 |
Net assets | $77,274,293 | |
Net Assets by Source | ||
Capital received from investors | 62,962,335 | |
Total distributable earnings | 14,311,958 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$77,274,293 | 6,344,789 | $12.18 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $1,191,828 | |
Dividends received from unaffiliated underlying funds | 410,942 | |
Interest | + | 2,317 |
Total investment income | 1,605,087 | |
Expenses | ||
Professional fees | 21,831 | |
Registration fees | 20,326 | |
Portfolio accounting fees | 11,751 | |
Independent trustees’ fees | 8,102 | |
Shareholder reports | 4,641 | |
Transfer agent fees | 2,306 | |
Custodian fees | 2,088 | |
Other expenses | + | 4,081 |
Total expenses | 75,126 | |
Expense reduction by CSIM and its affiliates | – | 75,126 |
Net expenses | – | — |
Net investment income | 1,605,087 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 133,915 | |
Realized capital gain distributions received from unaffiliated underlying funds | 367,401 | |
Net realized gains on sales of affiliated underlying funds | 1,220,080 | |
Net realized gains on sales of unaffiliated underlying funds | + | 189,211 |
Net realized gains | 1,910,607 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 618,854 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 633,077 |
Net change in unrealized appreciation (depreciation) | + | 1,251,931 |
Net realized and unrealized gains | 3,162,538 | |
Increase in net assets resulting from operations | $4,767,625 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $1,605,087 | $1,963,769 | ||
Net realized gains | 1,910,607 | 2,268,491 | ||
Net change in unrealized appreciation (depreciation) | + | 1,251,931 | 3,984,094 | |
Increase in net assets from operations | 4,767,625 | 8,216,354 | ||
Distributions to Shareholders | ||||
Total distributions | ($4,189,125) | ($4,192,333) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 767,274 | $9,075,200 | 663,357 | $7,656,603 | ||||
Shares reinvested | 335,649 | 3,930,448 | 364,172 | 3,892,994 | ||||
Shares redeemed | + | (1,481,051) | (17,448,525) | (2,164,691) | (24,726,747) | |||
Net transactions in fund shares | (378,128) | ($4,442,877) | (1,137,162) | ($13,177,150) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 6,722,917 | $81,138,670 | 7,860,079 | $90,291,799 | ||||
Total decrease | + | (378,128) | (3,864,377) | (1,137,162) | (9,153,129) | |||
End of period | 6,344,789 | $77,274,293 | 6,722,917 | $81,138,670 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.46 | $13.87 | $14.71 | $13.84 | $14.33 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.30 | 0.32 | 0.30 | 0.23 | 0.22 | |
Net realized and unrealized gains (losses) | 0.58 | 1.04 | (0.33) | 1.39 | 0.06 | |
Total from investment operations | 0.88 | 1.36 | (0.03) | 1.62 | 0.28 | |
Less distributions: | ||||||
Distributions from net investment income | (0.36) | (0.35) | (0.33) | (0.24) | (0.27) | |
Distributions from net realized gains | (0.43) | (0.42) | (0.48) | (0.51) | (0.50) | |
Total distributions | (0.79) | (0.77) | (0.81) | (0.75) | (0.77) | |
Net asset value at end of period | $14.55 | $14.46 | $13.87 | $14.71 | $13.84 | |
Total return | 6.33% | 10.58% | (0.32%) | 12.28% | 2.05% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% 3 | |
Gross operating expenses2 | 0.02% | 0.03% | 0.02% | 0.03% | 0.03% | |
Net investment income (loss) | 2.13% | 2.28% | 2.07% | 1.67% | 1.59% | |
Portfolio turnover rate | 17% | 14% | 18% | 47% 4 | 9% | |
Net assets, end of period (x 1,000,000) | $525 | $549 | $542 | $579 | $530 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 73.8% of net assets | ||
Equity Funds 32.2% | ||
Global Real Estate 1.8% | ||
Schwab Global Real Estate Fund | 1,539,721 | 9,469,280 |
International 11.6% | ||
Laudus International MarketMasters Fund | 1,653,653 | 40,299,521 |
Schwab International Core Equity Fund | 2,241,024 | 20,415,732 |
60,715,253 | ||
Large-Cap 16.6% | ||
Schwab Core Equity Fund | 1,205,919 | 26,819,643 |
Schwab Dividend Equity Fund | 40,755 | 494,768 |
Schwab S&P 500 Index Fund | 1,183,239 | 60,049,369 |
87,363,780 | ||
Mid-Cap 0.9% | ||
Schwab U.S. Mid-Cap Index Fund | 100,536 | 4,522,092 |
Small-Cap 1.3% | ||
Schwab Small-Cap Equity Fund | 468,102 | 7,030,894 |
169,101,299 | ||
Fixed-Income Funds 38.8% | ||
Inflation-Protected Bond 5.8% | ||
Schwab Treasury Inflation Protected Securities Index Fund | 2,530,300 | 30,768,451 |
Intermediate-Term Bond 23.9% | ||
Schwab U.S. Aggregate Bond Index Fund | 11,699,490 | 125,652,527 |
Short-Term Bond 9.1% | ||
Schwab Short-Term Bond Index Fund | 4,605,078 | 47,708,605 |
204,129,583 | ||
Money Market Fund 2.8% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 14,742,530 | 14,748,426 |
Total Affiliated Underlying Funds | ||
(Cost $315,611,183) | 387,979,308 | |
Unaffiliated Underlying Funds 25.0% of net assets | ||
Equity Funds 7.7% | ||
Large-Cap 6.8% | ||
ClearBridge Large Cap Growth Fund, Class IS | 322,441 | 20,400,823 |
Dodge & Cox Stock Fund | 94,192 | 15,385,341 |
35,786,164 |
Security | Number of Shares | Value ($) |
Small-Cap 0.9% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 101,976 | 4,620,524 |
40,406,688 | ||
Fixed-Income Funds 17.3% | ||
Intermediate-Term Bond 15.0% | ||
Baird Aggregate Bond Fund, Institutional Class | 1,940,161 | 22,855,101 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 624,212 | 7,390,673 |
Metropolitan West Total Return Bond Fund, Class I | 4,189,669 | 48,474,467 |
78,720,241 | ||
International Bond 2.3% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 1,094,865 | 12,087,311 |
90,807,552 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $119,393,528) | 131,214,240 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.8% of net assets | ||
Time Deposit 0.8% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (b) | 4,397,342 | 4,397,342 |
Total Short-Term Investment | ||
(Cost $4,397,342) | 4,397,342 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $40,354,107 | $5,185,592 | ($8,610,000) | ($188,838) | $3,558,660 | $40,299,521 | 1,653,653 | $805,593 |
Laudus U.S. Large Cap Growth Fund | 1,023,113 | 85,851 | (1,126,845) | 645,348 | (627,467) | — | — | 85,851 |
Schwab Core Equity Fund | 34,762,217 | 2,532,450 | (11,390,000) | 1,730,963 | (815,987) | 26,819,643 | 1,205,919 | 982,449 |
Schwab Dividend Equity Fund | 1,361,750 | 89,499 | (660,000) | (46,978) | (249,503) | 494,768 | 40,755 | 89,499 |
Schwab Global Real Estate Fund | 12,461,685 | 2,245,796 | (2,180,000) | (34,413) | (3,023,788) | 9,469,280 | 1,539,721 | 675,796 |
Schwab International Core Equity Fund | 27,044,335 | 2,314,297 | (6,600,000) | (606,597) | (1,736,303) | 20,415,732 | 2,241,024 | 974,296 |
Schwab S&P 500 Index Fund | 66,191,930 | 9,890,641 | (21,080,000) | 3,845,372 | 1,201,426 | 60,049,369 | 1,183,239 | 1,350,641 |
Schwab Short-Term Bond Index Fund | 45,506,292 | 8,038,425 | (6,965,286) | 91,247 | 1,037,927 | 47,708,605 | 4,605,078 | 823,171 |
Schwab Small-Cap Equity Fund | 10,124,182 | 10,761 | (2,090,000) | (264,372) | (749,677) | 7,030,894 | 468,102 | 10,761 |
Schwab Treasury Inflation Protected Securities Index Fund | 27,550,743 | 5,268,140 | (4,210,000) | 25,878 | 2,133,690 | 30,768,451 | 2,530,300 | 388,140 |
Schwab U.S. Aggregate Bond Index Fund | 109,012,348 | 31,832,224 | (19,119,473) | 65,650 | 3,861,778 | 125,652,527 | 11,699,490 | 2,980,439 |
Schwab U.S. Mid-Cap Index Fund | 5,143,346 | 626,961 | (1,450,000) | 44,515 | 157,270 | 4,522,092 | 100,536 | 106,961 |
Schwab Variable Share Price Money Fund, Ultra Shares | 29,511,748 | 208,438 | (14,970,000) | 2,880 | (4,640) | 14,748,426 | 14,742,530 | 182,716 |
Total | $410,047,796 | $68,329,075 | ($100,451,604) | $5,310,655 | $4,743,386 | $387,979,308 | $9,456,313 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $387,979,308 | $— | $— | $387,979,308 | |
Unaffiliated Underlying Funds1 | 131,214,240 | — | — | 131,214,240 | |
Short-Term Investment1 | — | 4,397,342 | — | 4,397,342 | |
Total | $519,193,548 | $4,397,342 | $— | $523,590,890 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $315,611,183) | $387,979,308 | |
Investments in unaffiliated funds and issuers, at value (cost $123,790,870) | 135,611,582 | |
Receivables: | ||
Investments sold | 1,916,004 | |
Fund shares sold | 390,052 | |
Dividends | 362,935 | |
Due from investment adviser | 7,026 | |
Prepaid expenses | + | 14,742 |
Total assets | 526,281,649 | |
Liabilities | ||
Payables: | ||
Investments bought | 361,450 | |
Fund shares redeemed | 421,869 | |
Accrued expenses | + | 54,737 |
Total liabilities | 838,056 | |
Net Assets | ||
Total assets | 526,281,649 | |
Total liabilities | – | 838,056 |
Net assets | $525,443,593 | |
Net Assets by Source | ||
Capital received from investors | 427,548,146 | |
Total distributable earnings | 97,895,447 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$525,443,593 | 36,101,483 | $14.55 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $8,310,227 | |
Dividends received from unaffiliated underlying funds | 2,955,117 | |
Interest | + | 11,950 |
Total investment income | 11,277,294 | |
Expenses | ||
Registration fees | 30,467 | |
Portfolio accounting fees | 25,432 | |
Professional fees | 23,534 | |
Shareholder reports | 18,127 | |
Independent trustees’ fees | 10,109 | |
Transfer agent fees | 8,850 | |
Custodian fees | 2,148 | |
Other expenses | + | 8,862 |
Total expenses | 127,529 | |
Expense reduction by CSIM and its affiliates | – | 127,529 |
Net expenses | – | — |
Net investment income | 11,277,294 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,146,086 | |
Realized capital gain distributions received from unaffiliated underlying funds | 2,681,479 | |
Net realized gains on sales of affiliated underlying funds | 5,310,655 | |
Net realized gains on sales of unaffiliated underlying funds | + | 924,346 |
Net realized gains | 10,062,566 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 4,743,386 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 4,306,511 |
Net change in unrealized appreciation (depreciation) | + | 9,049,897 |
Net realized and unrealized gains | 19,112,463 | |
Increase in net assets resulting from operations | $30,389,757 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $11,277,294 | $12,429,435 | ||
Net realized gains | 10,062,566 | 17,864,060 | ||
Net change in unrealized appreciation (depreciation) | + | 9,049,897 | 24,386,674 | |
Increase in net assets from operations | 30,389,757 | 54,680,169 | ||
Distributions to Shareholders | ||||
Total distributions | ($29,966,408) | ($29,733,328) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 5,736,654 | $81,673,353 | 5,237,831 | $72,332,026 | ||||
Shares reinvested | 1,985,761 | 27,880,086 | 2,194,423 | 27,913,053 | ||||
Shares redeemed | + | (9,574,984) | (133,223,621) | (8,554,258) | (118,357,642) | |||
Net transactions in fund shares | (1,852,569) | ($23,670,182) | (1,122,004) | ($18,112,563) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 37,954,052 | $548,690,426 | 39,076,056 | $541,856,148 | ||||
Total increase or decrease | + | (1,852,569) | (23,246,833) | (1,122,004) | 6,834,278 | |||
End of period | 36,101,483 | $525,443,593 | 37,954,052 | $548,690,426 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.74 | $14.10 | $14.71 | $13.45 | $14.11 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.31 | 0.30 | 0.28 | 0.22 | 0.20 | |
Net realized and unrealized gains (losses) | 0.55 | 1.10 | (0.34) | 1.73 | 0.06 | |
Total from investment operations | 0.86 | 1.40 | (0.06) | 1.95 | 0.26 | |
Less distributions: | ||||||
Distributions from net investment income | (0.35) | (0.34) | (0.34) | (0.23) | (0.26) | |
Distributions from net realized gains | (0.44) | (0.42) | (0.21) | (0.46) | (0.66) | |
Total distributions | (0.79) | (0.76) | (0.55) | (0.69) | (0.92) | |
Net asset value at end of period | $14.81 | $14.74 | $14.10 | $14.71 | $13.45 | |
Total return | 5.98% | 10.79% | (0.53%) | 15.17% | 2.01% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% 3 | |
Gross operating expenses2 | 0.02% | 0.03% | 0.02% | 0.03% | 0.04% | |
Net investment income (loss) | 2.14% | 2.10% | 1.88% | 1.59% | 1.53% | |
Portfolio turnover rate | 16% | 15% | 13% | 36% 4 | 5% | |
Net assets, end of period (x 1,000,000) | $572 | $577 | $531 | $521 | $443 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 71.3% of net assets | ||
Equity Funds 44.6% | ||
Global Real Estate 2.5% | ||
Schwab Global Real Estate Fund | 2,316,757 | 14,248,053 |
International 15.7% | ||
Laudus International MarketMasters Fund | 2,369,203 | 57,737,488 |
Schwab International Core Equity Fund | 3,542,504 | 32,272,214 |
90,009,702 | ||
Large-Cap 23.1% | ||
Laudus U.S. Large Cap Growth Fund | 275,670 | 7,470,645 |
Schwab Core Equity Fund | 2,089,943 | 46,480,332 |
Schwab Dividend Equity Fund | 76,627 | 930,257 |
Schwab S&P 500 Index Fund | 1,519,311 | 77,105,046 |
131,986,280 | ||
Mid-Cap 1.2% | ||
Schwab U.S. Mid-Cap Index Fund | 146,529 | 6,590,860 |
Small-Cap 2.1% | ||
Schwab Small-Cap Equity Fund | 817,540 | 12,279,447 |
255,114,342 | ||
Fixed-Income Funds 24.8% | ||
Inflation-Protected Bond 2.2% | ||
Schwab Treasury Inflation Protected Securities Index Fund | 1,032,931 | 12,560,445 |
Intermediate-Term Bond 16.3% | ||
Schwab U.S. Aggregate Bond Index Fund | 8,698,423 | 93,421,065 |
Short-Term Bond 6.3% | ||
Schwab Short-Term Bond Index Fund | 3,478,218 | 36,034,341 |
142,015,851 | ||
Money Market Fund 1.9% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 10,646,628 | 10,650,887 |
Total Affiliated Underlying Funds | ||
(Cost $340,927,443) | 407,781,080 | |
Unaffiliated Underlying Funds 27.4% of net assets | ||
Equity Funds 9.6% | ||
International 0.9% | ||
Goldman Sachs Emerging Markets Equity Insights Fund, Institutional Class | 526,364 | 5,389,972 |
Security | Number of Shares | Value ($) |
Large-Cap 7.4% | ||
ClearBridge Large Cap Growth Fund, Class IS | 324,620 | 20,538,734 |
Dodge & Cox Stock Fund | 134,433 | 21,958,288 |
42,497,022 | ||
Small-Cap 1.3% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 161,240 | 7,305,803 |
55,192,797 | ||
Fixed-Income Funds 17.8% | ||
Intermediate-Term Bond 13.5% | ||
Baird Aggregate Bond Fund, Institutional Class | 1,239,245 | 14,598,311 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 1,273,084 | 15,073,309 |
Metropolitan West Total Return Bond Fund, Class I | 4,085,361 | 47,267,622 |
76,939,242 | ||
International Bond 4.3% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 2,242,965 | 24,762,335 |
101,701,577 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $144,904,723) | 156,894,374 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 1.0% of net assets | ||
Time Deposit 1.0% | ||
Skandinaviska Enskilda Banken | ||
0.01%, 11/02/20 (b) | 5,508,601 | 5,508,601 |
Total Short-Term Investment | ||
(Cost $5,508,601) | 5,508,601 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $56,558,130 | $6,000,280 | ($9,280,000) | ($1,134,854) | $5,593,932 | $57,737,488 | 2,369,203 | $1,140,280 |
Laudus U.S. Large Cap Growth Fund | 6,728,398 | 1,954,592 | (2,770,000) | 881,920 | 675,735 | 7,470,645 | 275,670 | 564,591 |
Schwab Core Equity Fund | 53,527,691 | 1,548,243 | (9,609,999) | (581) | 1,014,978 | 46,480,332 | 2,089,943 | 1,548,244 |
Schwab Dividend Equity Fund | 2,066,652 | 132,681 | (700,000) | (124,946) | (444,130) | 930,257 | 76,627 | 132,682 |
Schwab Global Real Estate Fund | 16,958,713 | 3,056,551 | (1,310,000) | (102,214) | (4,354,997) | 14,248,053 | 2,316,757 | 936,551 |
Schwab International Core Equity Fund | 37,091,229 | 2,926,245 | (4,383,002) | (938,846) | (2,423,412) | 32,272,214 | 3,542,504 | 1,336,245 |
Schwab S&P 500 Index Fund | 81,277,045 | 9,400,602 | (19,520,000) | 3,219,189 | 2,728,210 | 77,105,046 | 1,519,311 | 1,640,602 |
Schwab Short-Term Bond Index Fund | 33,442,382 | 8,024,128 | (6,281,436) | 96,341 | 752,926 | 36,034,341 | 3,478,218 | 612,717 |
Schwab Small-Cap Equity Fund | 15,913,251 | 757,039 | (2,940,000) | (1,482,407) | 31,564 | 12,279,447 | 817,540 | 17,038 |
Schwab Treasury Inflation Protected Securities Index Fund | 10,429,385 | 3,438,437 | (2,190,000) | 16,342 | 866,281 | 12,560,445 | 1,032,931 | 158,438 |
Schwab U.S. Aggregate Bond Index Fund | 82,065,620 | 27,403,428 | (19,068,667) | 70,861 | 2,949,823 | 93,421,065 | 8,698,423 | 2,280,588 |
Schwab U.S. Mid-Cap Index Fund | 6,334,698 | 160,134 | — | — | 96,028 | 6,590,860 | 146,529 | 160,134 |
Schwab Variable Share Price Money Fund, Ultra Shares | 21,391,508 | 150,634 | (10,890,000) | 1,795 | (3,050) | 10,650,887 | 10,646,628 | 131,988 |
Total | $423,784,702 | $64,952,994 | ($88,943,104) | $502,600 | $7,483,888 | $407,781,080 | $10,660,098 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $407,781,080 | $— | $— | $407,781,080 | |
Unaffiliated Underlying Funds1 | 156,894,374 | — | — | 156,894,374 | |
Short-Term Investment1 | — | 5,508,601 | — | 5,508,601 | |
Total | $564,675,454 | $5,508,601 | $— | $570,184,055 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $340,927,443) | $407,781,080 | |
Investments in unaffiliated funds and issuers, at value (cost $150,413,324) | 162,402,975 | |
Receivables: | ||
Investments sold | 920,003 | |
Fund shares sold | 706,504 | |
Dividends | 311,634 | |
Due from investment adviser | 8,222 | |
Prepaid expenses | + | 11,852 |
Total assets | 572,142,270 | |
Liabilities | ||
Payables: | ||
Investments bought | 310,414 | |
Fund shares redeemed | 38,770 | |
Accrued expenses | + | 55,252 |
Total liabilities | 404,436 | |
Net Assets | ||
Total assets | 572,142,270 | |
Total liabilities | – | 404,436 |
Net assets | $571,737,834 | |
Net Assets by Source | ||
Capital received from investors | 484,345,381 | |
Total distributable earnings | 87,392,453 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$571,737,834 | 38,597,550 | $14.81 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $8,507,774 | |
Dividends received from unaffiliated underlying funds | 3,708,829 | |
Interest | + | 19,208 |
Total investment income | 12,235,811 | |
Expenses | ||
Registration fees | 35,797 | |
Portfolio accounting fees | 25,846 | |
Professional fees | 23,549 | |
Shareholder reports | 18,937 | |
Transfer agent fees | 11,000 | |
Independent trustees’ fees | 10,298 | |
Custodian fees | 2,202 | |
Other expenses | + | 9,111 |
Total expenses | 136,740 | |
Expense reduction by CSIM and its affiliates | – | 136,740 |
Net expenses | – | — |
Net investment income | 12,235,811 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 2,152,324 | |
Realized capital gain distributions received from unaffiliated underlying funds | 3,355,295 | |
Net realized gains on sales of affiliated underlying funds | 502,600 | |
Net realized gains on sales of unaffiliated underlying funds | + | 156,815 |
Net realized gains | 6,167,034 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 7,483,888 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 4,182,099 |
Net change in unrealized appreciation (depreciation) | + | 11,665,987 |
Net realized and unrealized gains | 17,833,021 | |
Increase in net assets resulting from operations | $30,068,832 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $12,235,811 | $11,528,934 | ||
Net realized gains | 6,167,034 | 18,998,513 | ||
Net change in unrealized appreciation (depreciation) | + | 11,665,987 | 25,891,364 | |
Increase in net assets from operations | 30,068,832 | 56,418,811 | ||
Distributions to Shareholders | ||||
Total distributions | ($31,204,773) | ($28,587,026) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 6,665,930 | $96,099,310 | 6,370,762 | $89,570,449 | ||||
Shares reinvested | 2,073,359 | 29,960,039 | 2,152,966 | 27,536,429 | ||||
Shares redeemed | + | (9,291,366) | (130,280,378) | (7,018,067) | (98,439,951) | |||
Net transactions in fund shares | (552,077) | ($4,221,029) | 1,505,661 | $18,666,927 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 39,149,627 | $577,094,804 | 37,643,966 | $530,596,092 | ||||
Total increase or decrease | + | (552,077) | (5,356,970) | 1,505,661 | 46,498,712 | |||
End of period | 38,597,550 | $571,737,834 | 39,149,627 | $577,094,804 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.79 | $15.24 | $16.10 | $14.51 | $15.59 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.33 | 0.30 | 0.29 | 0.23 | 0.22 | |
Net realized and unrealized gains (losses) | 0.57 | 1.21 | (0.38) | 2.18 | 0.01 | |
Total from investment operations | 0.90 | 1.51 | (0.09) | 2.41 | 0.23 | |
Less distributions: | ||||||
Distributions from net investment income | (0.37) | (0.37) | (0.39) | (0.24) | (0.30) | |
Distributions from net realized gains | (0.65) | (0.59) | (0.38) | (0.58) | (1.01) | |
Total distributions | (1.02) | (0.96) | (0.77) | (0.82) | (1.31) | |
Net asset value at end of period | $15.67 | $15.79 | $15.24 | $16.10 | $14.51 | |
Total return | 5.81% | 10.94% | (0.75%) | 17.47% | 1.72% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% 3 | |
Gross operating expenses2 | 0.02% | 0.02% | 0.02% | 0.02% | 0.03% | |
Net investment income (loss) | 2.15% | 2.00% | 1.79% | 1.53% | 1.51% | |
Portfolio turnover rate | 13% | 17% | 14% | 30% | 5% | |
Net assets, end of period (x 1,000,000) | $965 | $999 | $958 | $966 | $814 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 71.2% of net assets | ||
Equity Funds 53.3% | ||
Global Real Estate 3.0% | ||
Schwab Global Real Estate Fund | 4,698,604 | 28,896,417 |
International 18.6% | ||
Laudus International MarketMasters Fund | 4,636,688 | 112,996,078 |
Schwab International Core Equity Fund | 7,301,011 | 66,512,210 |
179,508,288 | ||
Large-Cap 27.5% | ||
Laudus U.S. Large Cap Growth Fund | 851,371 | 23,072,141 |
Schwab Core Equity Fund | 4,165,286 | 92,635,966 |
Schwab Dividend Equity Fund | 638,748 | 7,754,406 |
Schwab S&P 500 Index Fund | 2,809,707 | 142,592,653 |
266,055,166 | ||
Mid-Cap 1.2% | ||
Schwab U.S. Mid-Cap Index Fund | 255,751 | 11,503,681 |
Small-Cap 3.0% | ||
Schwab Small-Cap Equity Fund | 1,924,165 | 28,900,959 |
514,864,511 | ||
Fixed-Income Funds 16.6% | ||
Inflation-Protected Bond 0.5% | ||
Schwab Treasury Inflation Protected Securities Index Fund | 378,945 | 4,607,974 |
Intermediate-Term Bond 11.6% | ||
Schwab U.S. Aggregate Bond Index Fund | 10,464,579 | 112,389,577 |
Short-Term Bond 4.5% | ||
Schwab Short-Term Bond Index Fund | 4,167,236 | 43,172,563 |
160,170,114 | ||
Money Market Fund 1.3% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 12,651,650 | 12,656,711 |
Total Affiliated Underlying Funds | ||
(Cost $529,258,446) | 687,691,336 | |
Unaffiliated Underlying Funds 27.7% of net assets | ||
Equity Funds 11.8% | ||
International 1.9% | ||
Goldman Sachs Emerging Markets Equity Insights Fund, Institutional Class | 1,762,171 | 18,044,632 |
Security | Number of Shares | Value ($) |
Large-Cap 8.3% | ||
ClearBridge Large Cap Growth Fund, Class IS | 580,340 | 36,718,138 |
Dodge & Cox Stock Fund | 265,794 | 43,414,726 |
80,132,864 | ||
Small-Cap 1.6% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 333,706 | 15,120,228 |
113,297,724 | ||
Fixed-Income Funds 15.9% | ||
Intermediate-Term Bond 11.3% | ||
Baird Aggregate Bond Fund, Institutional Class | 1,382,682 | 16,287,988 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 2,336,405 | 27,663,037 |
Metropolitan West Total Return Bond Fund, Class I | 5,604,526 | 64,844,363 |
108,795,388 | ||
International Bond 4.6% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 4,076,037 | 44,999,449 |
153,794,837 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $248,036,385) | 267,092,561 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.1% of net assets | ||
Time Deposits 1.1% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (b) | 9,732,997 | 9,732,997 |
Skandinaviska Enskilda Banken | ||
0.01%, 11/02/20 (b) | 1,108,954 | 1,108,954 |
Total Short-Term Investments | ||
(Cost $10,841,951) | 10,841,951 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $114,060,550 | $7,871,075 | ($17,490,000) | ($1,375,670) | $9,930,123 | $112,996,078 | 4,636,688 | $2,321,075 |
Laudus U.S. Large Cap Growth Fund | 22,578,525 | 3,214,603 | (7,280,000) | 2,715,477 | 1,843,536 | 23,072,141 | 851,371 | 1,894,602 |
Schwab Core Equity Fund | 104,714,833 | 3,063,115 | (17,050,000) | 567,086 | 1,340,932 | 92,635,966 | 4,165,286 | 3,063,115 |
Schwab Dividend Equity Fund | 11,389,803 | 782,137 | (2,240,000) | (113,021) | (2,064,513) | 7,754,406 | 638,748 | 782,139 |
Schwab Global Real Estate Fund | 34,719,157 | 5,653,990 | (2,620,000) | (125,878) | (8,730,852) | 28,896,417 | 4,698,604 | 1,913,991 |
Schwab International Core Equity Fund | 75,878,157 | 4,533,579 | (6,830,000) | (1,770,122) | (5,299,404) | 66,512,210 | 7,301,011 | 2,733,579 |
Schwab S&P 500 Index Fund | 147,472,503 | 15,279,165 | (30,590,000) | 5,016,164 | 5,414,821 | 142,592,653 | 2,809,707 | 3,009,164 |
Schwab Short-Term Bond Index Fund | 41,847,840 | 8,914,945 | (8,599,785) | 124,416 | 885,147 | 43,172,563 | 4,167,236 | 744,212 |
Schwab Small-Cap Equity Fund | 34,020,480 | 2,237,327 | (4,390,000) | (910,951) | (2,055,897) | 28,900,959 | 1,924,165 | 37,327 |
Schwab Treasury Inflation Protected Securities Index Fund | — | 4,359,020 | — | — | 248,954 | 4,607,974 | 378,945 | 19,021 |
Schwab U.S. Aggregate Bond Index Fund | 104,917,645 | 27,420,433 | (23,614,664) | 53,880 | 3,612,283 | 112,389,577 | 10,464,579 | 2,791,714 |
Schwab U.S. Mid-Cap Index Fund | 12,651,067 | 319,804 | (1,590,000) | 24,654 | 98,156 | 11,503,681 | 255,751 | 319,804 |
Schwab Variable Share Price Money Fund, Ultra Shares | 26,491,561 | 187,602 | (14,020,000) | 1,309 | (3,761) | 12,656,711 | 12,651,650 | 164,502 |
Total | $730,742,121 | $83,836,795 | ($136,314,449) | $4,207,344 | $5,219,525 | $687,691,336 | $19,794,245 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $687,691,336 | $— | $— | $687,691,336 | |
Unaffiliated Underlying Funds1 | 267,092,561 | — | — | 267,092,561 | |
Short-Term Investments1 | — | 10,841,951 | — | 10,841,951 | |
Total | $954,783,897 | $10,841,951 | $— | $965,625,848 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $529,258,446) | $687,691,336 | |
Investments in unaffiliated funds and issuers, at value (cost $258,878,336) | 277,934,512 | |
Receivables: | ||
Investments sold | 3,000,009 | |
Fund shares sold | 674,325 | |
Dividends | 407,932 | |
Due from investment adviser | 7,849 | |
Prepaid expenses | + | 21,108 |
Total assets | 969,737,071 | |
Liabilities | ||
Payables: | ||
Investments bought | 3,406,172 | |
Fund shares redeemed | 969,534 | |
Accrued expenses | + | 73,188 |
Total liabilities | 4,448,894 | |
Net Assets | ||
Total assets | 969,737,071 | |
Total liabilities | – | 4,448,894 |
Net assets | $965,288,177 | |
Net Assets by Source | ||
Capital received from investors | 770,273,118 | |
Total distributable earnings | 195,015,059 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$965,288,177 | 61,612,086 | $15.67 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $14,387,704 | |
Dividends received from unaffiliated underlying funds | 6,514,934 | |
Interest | + | 26,357 |
Total investment income | 20,928,995 | |
Expenses | ||
Registration fees | 34,389 | |
Shareholder reports | 33,474 | |
Portfolio accounting fees | 29,888 | |
Professional fees | 25,108 | |
Transfer agent fees | 12,335 | |
Independent trustees’ fees | 12,098 | |
Custodian fees | 2,345 | |
Other expenses | + | 13,335 |
Total expenses | 162,972 | |
Expense reduction by CSIM and its affiliates | – | 162,972 |
Net expenses | – | — |
Net investment income | 20,928,995 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 5,406,541 | |
Realized capital gain distributions received from unaffiliated underlying funds | 6,375,882 | |
Net realized gains on sales of affiliated underlying funds | 4,207,344 | |
Net realized gains on sales of unaffiliated underlying funds | + | 580,894 |
Net realized gains | 16,570,661 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 5,219,525 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 6,178,332 |
Net change in unrealized appreciation (depreciation) | + | 11,397,857 |
Net realized and unrealized gains | 27,968,518 | |
Increase in net assets resulting from operations | $48,897,513 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $20,928,995 | $19,375,183 | ||
Net realized gains | 16,570,661 | 44,516,378 | ||
Net change in unrealized appreciation (depreciation) | + | 11,397,857 | 36,469,471 | |
Increase in net assets from operations | 48,897,513 | 100,361,032 | ||
Distributions to Shareholders | ||||
Total distributions | ($64,665,015) | ($59,673,092) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 8,331,450 | $126,649,806 | 6,655,676 | $100,210,585 | ||||
Shares reinvested | 4,044,928 | 62,251,430 | 4,238,554 | 57,474,786 | ||||
Shares redeemed | + | (14,016,675) | (206,526,474) | (10,487,734) | (157,448,421) | |||
Net transactions in fund shares | (1,640,297) | ($17,625,238) | 406,496 | $236,950 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 63,252,383 | $998,680,917 | 62,845,887 | $957,756,027 | ||||
Total increase or decrease | + | (1,640,297) | (33,392,740) | 406,496 | 40,924,890 | |||
End of period | 61,612,086 | $965,288,177 | 63,252,383 | $998,680,917 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.46 | $14.94 | $15.58 | $13.82 | $14.70 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.31 | 0.28 | 0.27 | 0.21 | 0.20 | |
Net realized and unrealized gains (losses) | 0.53 | 1.19 | (0.38) | 2.32 | 0.01 | |
Total from investment operations | 0.84 | 1.47 | (0.11) | 2.53 | 0.21 | |
Less distributions: | ||||||
Distributions from net investment income | (0.34) | (0.36) | (0.39) | (0.22) | (0.28) | |
Distributions from net realized gains | (0.62) | (0.59) | (0.14) | (0.55) | (0.81) | |
Total distributions | (0.96) | (0.95) | (0.53) | (0.77) | (1.09) | |
Net asset value at end of period | $15.34 | $15.46 | $14.94 | $15.58 | $13.82 | |
Total return | 5.51% | 10.90% | (0.88%) | 19.19% | 1.63% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% | 0.00% | 0.00% 3 | 0.00% | 0.00% 3 | |
Gross operating expenses2 | 0.03% | 0.03% | 0.03% | 0.04% | 0.04% | |
Net investment income (loss) | 2.06% | 1.87% | 1.70% | 1.48% | 1.46% | |
Portfolio turnover rate | 12% | 15% | 14% | 24% | 3% | |
Net assets, end of period (x 1,000,000) | $477 | $483 | $447 | $440 | $361 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 72.6% of net assets | ||
Equity Funds 60.2% | ||
Global Real Estate 3.4% | ||
Schwab Global Real Estate Fund | 2,605,953 | 16,026,608 |
International 20.9% | ||
Laudus International MarketMasters Fund | 2,609,767 | 63,600,010 |
Schwab International Core Equity Fund | 3,987,530 | 36,326,402 |
99,926,412 | ||
Large-Cap 30.7% | ||
Laudus U.S. Large Cap Growth Fund | 615,642 | 16,683,899 |
Schwab Core Equity Fund | 2,305,598 | 51,276,494 |
Schwab Dividend Equity Fund | 580,206 | 7,043,705 |
Schwab S&P 500 Index Fund | 1,403,573 | 71,231,322 |
146,235,420 | ||
Mid-Cap 1.5% | ||
Schwab U.S. Mid-Cap Index Fund | 158,265 | 7,118,767 |
Small-Cap 3.7% | ||
Schwab Small-Cap Equity Fund | 1,180,828 | 17,736,031 |
287,043,238 | ||
Fixed-Income Funds 11.6% | ||
Intermediate-Term Bond 8.4% | ||
Schwab U.S. Aggregate Bond Index Fund | 3,730,053 | 40,060,770 |
Short-Term Bond 3.2% | ||
Schwab Short-Term Bond Index Fund | 1,458,385 | 15,108,866 |
55,169,636 | ||
Money Market Fund 0.8% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 4,013,918 | 4,015,524 |
Total Affiliated Underlying Funds | ||
(Cost $285,174,710) | 346,228,398 | |
Unaffiliated Underlying Funds 26.4% of net assets | ||
Equity Funds 13.0% | ||
International 2.8% | ||
Goldman Sachs Emerging Markets Equity Insights Fund, Institutional Class | 1,299,433 | 13,306,189 |
Security | Number of Shares | Value ($) |
Large-Cap 8.5% | ||
ClearBridge Large Cap Growth Fund, Class IS | 283,212 | 17,918,801 |
Dodge & Cox Stock Fund | 139,051 | 22,712,534 |
40,631,335 | ||
Small-Cap 1.7% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 179,402 | 8,128,712 |
62,066,236 | ||
Fixed-Income Funds 13.4% | ||
Intermediate-Term Bond 9.7% | ||
Baird Aggregate Bond Fund, Institutional Class | 461,065 | 5,431,349 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 1,259,791 | 14,915,922 |
Metropolitan West Total Return Bond Fund, Class I | 2,246,111 | 25,987,507 |
46,334,778 | ||
International Bond 3.7% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 1,594,501 | 17,603,287 |
63,938,065 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $117,570,075) | 126,004,301 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 1.0% of net assets | ||
Time Deposit 1.0% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (b) | 4,645,484 | 4,645,484 |
Total Short-Term Investment | ||
(Cost $4,645,484) | 4,645,484 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $60,904,081 | $3,629,368 | ($5,540,000) | ($844,013) | $5,450,574 | $63,600,010 | 2,609,767 | $1,239,368 |
Laudus U.S. Large Cap Growth Fund | 16,567,813 | 1,390,233 | (4,630,000) | 1,653,524 | 1,702,329 | 16,683,899 | 615,642 | 1,390,233 |
Schwab Core Equity Fund | 55,646,758 | 1,628,170 | (6,950,000) | (79,018) | 1,030,584 | 51,276,494 | 2,305,598 | 1,628,170 |
Schwab Dividend Equity Fund | 8,124,685 | 577,985 | — | — | (1,658,965) | 7,043,705 | 580,206 | 577,985 |
Schwab Global Real Estate Fund | 18,642,442 | 3,025,174 | (730,000) | (90,706) | (4,820,302) | 16,026,608 | 2,605,953 | 1,035,175 |
Schwab International Core Equity Fund | 41,017,479 | 3,127,691 | (4,060,000) | (1,196,641) | (2,562,127) | 36,326,402 | 3,987,530 | 1,477,691 |
Schwab S&P 500 Index Fund | 73,858,143 | 6,543,335 | (14,380,000) | 2,338,793 | 2,871,051 | 71,231,322 | 1,403,573 | 1,483,335 |
Schwab Short-Term Bond Index Fund | 14,485,816 | 3,267,286 | (2,997,327) | 41,302 | 311,789 | 15,108,866 | 1,458,385 | 259,969 |
Schwab Small-Cap Equity Fund | 19,559,286 | 1,781,473 | (1,770,000) | (1,009,066) | (825,662) | 17,736,031 | 1,180,828 | 21,472 |
Schwab U.S. Aggregate Bond Index Fund | 36,869,413 | 11,057,180 | (9,195,389) | 6,827 | 1,322,739 | 40,060,770 | 3,730,053 | 1,001,717 |
Schwab U.S. Mid-Cap Index Fund | 6,842,087 | 172,960 | — | — | 103,720 | 7,118,767 | 158,265 | 172,960 |
Schwab Variable Share Price Money Fund, Ultra Shares | 9,182,420 | 63,951 | (5,230,000) | 71 | (918) | 4,015,524 | 4,013,918 | 55,939 |
Total | $361,700,423 | $36,264,806 | ($55,482,716) | $821,073 | $2,924,812 | $346,228,398 | $10,344,014 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $346,228,398 | $— | $— | $346,228,398 | |
Unaffiliated Underlying Funds1 | 126,004,301 | — | — | 126,004,301 | |
Short-Term Investment1 | — | 4,645,484 | — | 4,645,484 | |
Total | $472,232,699 | $4,645,484 | $— | $476,878,183 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $285,174,710) | $346,228,398 | |
Investments in unaffiliated funds and issuers, at value (cost $122,215,559) | 130,649,785 | |
Receivables: | ||
Investments sold | 800,004 | |
Fund shares sold | 328,019 | |
Dividends | 150,419 | |
Due from investment adviser | 8,881 | |
Prepaid expenses | + | 10,272 |
Total assets | 478,175,778 | |
Liabilities | ||
Payables: | ||
Investments bought | 949,809 | |
Fund shares redeemed | 259,217 | |
Accrued expenses | + | 56,201 |
Total liabilities | 1,265,227 | |
Net Assets | ||
Total assets | 478,175,778 | |
Total liabilities | – | 1,265,227 |
Net assets | $476,910,551 | |
Net Assets by Source | ||
Capital received from investors | 399,608,958 | |
Total distributable earnings | 77,301,593 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$476,910,551 | 31,080,107 | $15.34 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $6,988,863 | |
Dividends received from unaffiliated underlying funds | 2,813,446 | |
Interest | + | 12,040 |
Total investment income | 9,814,349 | |
Expenses | ||
Registration fees | 31,398 | |
Portfolio accounting fees | 24,860 | |
Professional fees | 23,229 | |
Shareholder reports | 19,210 | |
Transfer agent fees | 11,152 | |
Independent trustees’ fees | 9,883 | |
Custodian fees | 2,127 | |
Other expenses | + | 7,851 |
Total expenses | 129,710 | |
Expense reduction by CSIM and its affiliates | – | 129,710 |
Net expenses | – | — |
Net investment income | 9,814,349 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 3,355,151 | |
Realized capital gain distributions received from unaffiliated underlying funds | 3,188,714 | |
Net realized gains on sales of affiliated underlying funds | 821,073 | |
Net realized gains on sales of unaffiliated underlying funds | + | 28,320 |
Net realized gains | 7,393,258 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 2,924,812 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 2,973,533 |
Net change in unrealized appreciation (depreciation) | + | 5,898,345 |
Net realized and unrealized gains | 13,291,603 | |
Increase in net assets resulting from operations | $23,105,952 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $9,814,349 | $8,647,898 | ||
Net realized gains | 7,393,258 | 20,972,631 | ||
Net change in unrealized appreciation (depreciation) | + | 5,898,345 | 18,014,725 | |
Increase in net assets from operations | 23,105,952 | 47,635,254 | ||
Distributions to Shareholders | ||||
Total distributions | ($30,104,205) | ($27,960,017) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 4,950,446 | $73,475,207 | 4,397,034 | $64,804,146 | ||||
Shares reinvested | 1,911,963 | 29,023,597 | 2,053,408 | 27,084,446 | ||||
Shares redeemed | + | (7,041,886) | (101,780,856) | (5,092,947) | (75,084,216) | |||
Net transactions in fund shares | (179,477) | $717,948 | 1,357,495 | $16,804,376 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 31,259,584 | $483,190,856 | 29,902,089 | $446,711,243 | ||||
Total increase or decrease | + | (179,477) | (6,280,305) | 1,357,495 | 36,479,613 | |||
End of period | 31,080,107 | $476,910,551 | 31,259,584 | $483,190,856 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $16.61 | $16.27 | $17.14 | $15.12 | $16.42 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.32 | 0.28 | 0.28 | 0.23 | 0.22 | |
Net realized and unrealized gains (losses) | 0.56 | 1.28 | (0.45) | 2.78 | (0.03) 2 | |
Total from investment operations | 0.88 | 1.56 | (0.17) | 3.01 | 0.19 | |
Less distributions: | ||||||
Distributions from net investment income | (0.35) | (0.39) | (0.44) | (0.24) | (0.32) | |
Distributions from net realized gains | (0.90) | (0.83) | (0.26) | (0.75) | (1.17) | |
Total distributions | (1.25) | (1.22) | (0.70) | (0.99) | (1.49) | |
Net asset value at end of period | $16.24 | $16.61 | $16.27 | $17.14 | $15.12 | |
Total return | 5.31% | 10.90% | (1.17%) | 21.02% | 1.38% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses3 | 0.00% | 0.00% | 0.00% 4 | 0.00% | 0.00% 4 | |
Gross operating expenses3 | 0.02% | 0.02% | 0.02% | 0.02% | 0.03% | |
Net investment income (loss) | 2.01% | 1.78% | 1.65% | 1.44% | 1.45% | |
Portfolio turnover rate | 10% | 15% | 17% | 21% | 4% | |
Net assets, end of period (x 1,000,000) | $985 | $1,012 | $962 | $998 | $841 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 74.3% of net assets | ||
Equity Funds 65.7% | ||
Global Real Estate 3.7% | ||
Schwab Global Real Estate Fund | 5,985,143 | 36,808,630 |
International 22.7% | ||
Laudus International MarketMasters Fund | 5,743,851 | 139,977,655 |
Schwab International Core Equity Fund | 9,179,152 | 83,622,077 |
223,599,732 | ||
Large-Cap 33.4% | ||
Laudus U.S. Large Cap Growth Fund | 1,692,483 | 45,866,279 |
Schwab Core Equity Fund | 5,141,901 | 114,355,888 |
Schwab Dividend Equity Fund | 1,607,385 | 19,513,656 |
Schwab S&P 500 Index Fund | 2,931,705 | 148,784,034 |
328,519,857 | ||
Mid-Cap 1.6% | ||
Schwab U.S. Mid-Cap Index Fund | 343,180 | 15,436,223 |
Small-Cap 4.3% | ||
Schwab Small-Cap Equity Fund | 2,838,214 | 42,629,978 |
646,994,420 | ||
Fixed-Income Funds 8.1% | ||
Intermediate-Term Bond 5.9% | ||
Schwab U.S. Aggregate Bond Index Fund | 5,434,712 | 58,368,806 |
Short-Term Bond 2.2% | ||
Schwab Short-Term Bond Index Fund | 2,080,597 | 21,554,981 |
79,923,787 | ||
Money Market Fund 0.5% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 4,875,163 | 4,877,113 |
Total Affiliated Underlying Funds | ||
(Cost $556,011,541) | 731,795,320 | |
Unaffiliated Underlying Funds 24.8% of net assets | ||
Equity Funds 14.5% | ||
International 3.8% | ||
Goldman Sachs Emerging Markets Equity Insights Fund, Institutional Class | 3,627,214 | 37,142,671 |
Security | Number of Shares | Value ($) |
Large-Cap 8.8% | ||
ClearBridge Large Cap Growth Fund, Class IS | 557,411 | 35,267,370 |
Dodge & Cox Stock Fund | 317,418 | 51,846,996 |
87,114,366 | ||
Small-Cap 1.9% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 405,968 | 18,394,422 |
142,651,459 | ||
Fixed-Income Funds 10.3% | ||
Intermediate-Term Bond 7.6% | ||
Baird Aggregate Bond Fund, Institutional Class | 542,436 | 6,389,894 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 2,400,625 | 28,423,405 |
Metropolitan West Total Return Bond Fund, Class I | 3,503,607 | 40,536,731 |
75,350,030 | ||
International Bond 2.7% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 2,398,189 | 26,476,008 |
101,826,038 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $228,996,177) | 244,477,497 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.7% of net assets | ||
Time Deposit 0.7% | ||
JPMorgan Chase Bank | ||
0.01%, 11/02/20 (b) | 7,541,813 | 7,541,813 |
Total Short-Term Investment | ||
(Cost $7,541,813) | 7,541,813 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $140,453,404 | $9,498,156 | ($20,130,000) | ($2,177,702) | $12,333,797 | $139,977,655 | 5,743,851 | $2,858,156 |
Laudus U.S. Large Cap Growth Fund | 48,618,750 | 4,079,681 | (16,180,000) | 6,411,739 | 2,936,109 | 45,866,279 | 1,692,483 | 4,079,681 |
Schwab Core Equity Fund | 125,474,027 | 3,652,881 | (16,900,000) | (117,166) | 2,246,146 | 114,355,888 | 5,141,901 | 3,652,881 |
Schwab Dividend Equity Fund | 23,122,489 | 1,636,057 | (630,000) | (11,528) | (4,603,362) | 19,513,656 | 1,607,385 | 1,636,057 |
Schwab Global Real Estate Fund | 42,514,092 | 7,359,633 | (1,980,000) | (101,679) | (10,983,416) | 36,808,630 | 5,985,143 | 2,359,632 |
Schwab International Core Equity Fund | 92,910,361 | 5,487,179 | (6,100,000) | (1,684,848) | (6,990,615) | 83,622,077 | 9,179,152 | 3,347,179 |
Schwab S&P 500 Index Fund | 153,253,679 | 7,787,128 | (23,300,000) | 4,244,040 | 6,799,187 | 148,784,034 | 2,931,705 | 3,127,129 |
Schwab Short-Term Bond Index Fund | 20,806,043 | 4,787,432 | (4,555,041) | 65,225 | 451,322 | 21,554,981 | 2,080,597 | 372,406 |
Schwab Small-Cap Equity Fund | 46,725,134 | 2,912,384 | (2,920,000) | (1,313,705) | (2,773,835) | 42,629,978 | 2,838,214 | 52,384 |
Schwab U.S. Aggregate Bond Index Fund | 52,449,147 | 18,328,463 | (14,311,807) | 101,221 | 1,801,782 | 58,368,806 | 5,434,712 | 1,448,349 |
Schwab U.S. Mid-Cap Index Fund | 14,836,274 | 375,044 | — | — | 224,905 | 15,436,223 | 343,180 | 375,044 |
Schwab Variable Share Price Money Fund, Ultra Shares | 12,553,710 | 85,286 | (7,760,000) | 646 | (2,529) | 4,877,113 | 4,875,163 | 74,323 |
Total | $773,717,110 | $65,989,324 | ($114,766,848) | $5,416,243 | $1,439,491 | $731,795,320 | $23,383,221 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $731,795,320 | $— | $— | $731,795,320 | |
Unaffiliated Underlying Funds1 | 244,477,497 | — | — | 244,477,497 | |
Short-Term Investment1 | — | 7,541,813 | — | 7,541,813 | |
Total | $976,272,817 | $7,541,813 | $— | $983,814,630 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $556,011,541) | $731,795,320 | |
Investments in unaffiliated funds and issuers, at value (cost $236,537,990) | 252,019,310 | |
Receivables: | ||
Investments sold | 1,965,004 | |
Fund shares sold | 497,135 | |
Dividends | 226,279 | |
Due from investment adviser | 7,949 | |
Prepaid expenses | + | 21,164 |
Total assets | 986,532,161 | |
Liabilities | ||
Payables: | ||
Investments bought | 225,356 | |
Fund shares redeemed | 894,370 | |
Accrued expenses | + | 87,079 |
Total liabilities | 1,206,805 | |
Net Assets | ||
Total assets | 986,532,161 | |
Total liabilities | – | 1,206,805 |
Net assets | $985,325,356 | |
Net Assets by Source | ||
Capital received from investors | 775,497,181 | |
Total distributable earnings | 209,828,175 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$985,325,356 | 60,688,112 | $16.24 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $14,658,395 | |
Dividends received from unaffiliated underlying funds | 5,132,842 | |
Interest | + | 18,073 |
Total investment income | 19,809,310 | |
Expenses | ||
Shareholder reports | 49,240 | |
Registration fees | 37,059 | |
Portfolio accounting fees | 29,898 | |
Professional fees | 25,168 | |
Transfer agent fees | 15,865 | |
Independent trustees’ fees | 12,166 | |
Custodian fees | 2,396 | |
Other expenses | + | 13,507 |
Total expenses | 185,299 | |
Expense reduction by CSIM and its affiliates | – | 185,299 |
Net expenses | – | — |
Net investment income | 19,809,310 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 8,724,826 | |
Realized capital gain distributions received from unaffiliated underlying funds | 6,841,238 | |
Net realized gains on sales of affiliated underlying funds | 5,416,243 | |
Net realized losses on sales of unaffiliated underlying funds | + | (839,876) |
Net realized gains | 20,142,431 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 1,439,491 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 6,485,784 |
Net change in unrealized appreciation (depreciation) | + | 7,925,275 |
Net realized and unrealized gains | 28,067,706 | |
Increase in net assets resulting from operations | $47,877,016 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $19,809,310 | $17,515,301 | ||
Net realized gains | 20,142,431 | 58,610,358 | ||
Net change in unrealized appreciation (depreciation) | + | 7,925,275 | 25,987,197 | |
Increase in net assets from operations | 47,877,016 | 102,112,856 | ||
Distributions to Shareholders | ||||
Total distributions | ($75,661,959) | ($71,258,344) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 7,287,918 | $111,975,602 | 6,025,941 | $95,176,212 | ||||
Shares reinvested | 4,584,013 | 74,123,497 | 4,962,246 | 69,868,426 | ||||
Shares redeemed | + | (12,097,184) | (184,546,752) | (9,203,118) | (146,239,888) | |||
Net transactions in fund shares | (225,253) | $1,552,347 | 1,785,069 | $18,804,750 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 60,913,365 | $1,011,557,952 | 59,128,296 | $961,898,690 | ||||
Total increase or decrease | + | (225,253) | (26,232,596) | 1,785,069 | 49,659,262 | |||
End of period | 60,688,112 | $985,325,356 | 60,913,365 | $1,011,557,952 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $13.88 | $13.35 | $13.92 | $12.00 | $12.51 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.25 | 0.22 | 0.21 | 0.17 | 0.16 | |
Net realized and unrealized gains (losses) | 0.46 | 1.09 | (0.39) | 2.37 | 0.00 2 | |
Total from investment operations | 0.71 | 1.31 | (0.18) | 2.54 | 0.16 | |
Less distributions: | ||||||
Distributions from net investment income | (0.28) | (0.31) | (0.36) | (0.18) | (0.23) | |
Distributions from net realized gains | (0.48) | (0.47) | (0.03) | (0.44) | (0.44) | |
Total distributions | (0.76) | (0.78) | (0.39) | (0.62) | (0.67) | |
Net asset value at end of period | $13.83 | $13.88 | $13.35 | $13.92 | $12.00 | |
Total return | 5.10% | 10.91% | (1.43%) | 22.11% | 1.40% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses3 | 0.00% | 0.00% | 0.00% 4 | 0.00% | 0.00% 4 | |
Gross operating expenses3 | 0.05% | 0.08% | 0.06% | 0.10% | 0.13% | |
Net investment income (loss) | 1.87% | 1.65% | 1.52% | 1.31% | 1.34% | |
Portfolio turnover rate | 6% | 8% | 12% | 11% | 1% | |
Net assets, end of period (x 1,000,000) | $178 | $162 | $139 | $121 | $82 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 75.9% of net assets | ||
Equity Funds 70.6% | ||
Global Real Estate 4.0% | ||
Schwab Global Real Estate Fund | 1,148,496 | 7,063,252 |
International 24.5% | ||
Laudus International MarketMasters Fund | 1,115,133 | 27,175,788 |
Schwab International Core Equity Fund | 1,806,673 | 16,458,791 |
43,634,579 | ||
Large-Cap 35.9% | ||
Laudus U.S. Large Cap Growth Fund | 398,623 | 10,802,694 |
Schwab Core Equity Fund | 992,630 | 22,076,096 |
Schwab Dividend Equity Fund | 329,174 | 3,996,168 |
Schwab S&P 500 Index Fund | 532,332 | 27,015,854 |
63,890,812 | ||
Mid-Cap 1.6% | ||
Schwab U.S. Mid-Cap Index Fund | 61,870 | 2,782,886 |
Small-Cap 4.6% | ||
Schwab Small-Cap Equity Fund | 551,361 | 8,281,447 |
125,652,976 | ||
Fixed-Income Funds 5.1% | ||
Intermediate-Term Bond 3.7% | ||
Schwab U.S. Aggregate Bond Index Fund | 612,158 | 6,574,580 |
Short-Term Bond 1.4% | ||
Schwab Short-Term Bond Index Fund | 237,730 | 2,462,881 |
9,037,461 | ||
Money Market Fund 0.2% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 425,161 | 425,331 |
Total Affiliated Underlying Funds | ||
(Cost $122,768,919) | 135,115,768 | |
Unaffiliated Underlying Funds 23.3% of net assets | ||
Equity Funds 16.0% | ||
International 4.8% | ||
Goldman Sachs Emerging Markets Equity Insights Fund, Institutional Class | 826,994 | 8,468,420 |
Security | Number of Shares | Value ($) |
Large-Cap 9.0% | ||
ClearBridge Large Cap Growth Fund, Class IS | 86,134 | 5,449,704 |
Dodge & Cox Stock Fund | 64,404 | 10,519,692 |
15,969,396 | ||
Small-Cap 2.2% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 88,446 | 4,007,498 |
28,445,314 | ||
Fixed-Income Funds 7.3% | ||
Intermediate-Term Bond 5.5% | ||
Baird Aggregate Bond Fund, Institutional Class | 49,504 | 583,154 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 343,012 | 4,061,256 |
Metropolitan West Total Return Bond Fund, Class I | 443,691 | 5,133,508 |
9,777,918 | ||
International Bond 1.8% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 293,706 | 3,242,514 |
13,020,432 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $39,354,175) | 41,465,746 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.7% of net assets | ||
Time Deposit 0.7% | ||
Citibank | ||
0.01%, 11/02/20 (b) | 1,262,912 | 1,262,912 |
Total Short-Term Investment | ||
(Cost $1,262,912) | 1,262,912 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $23,910,113 | $2,732,081 | ($1,560,000) | ($266,436) | $2,360,030 | $27,175,788 | 1,115,133 | $492,081 |
Laudus U.S. Large Cap Growth Fund | 9,771,857 | 819,973 | (1,805,000) | 248,891 | 1,766,973 | 10,802,694 | 398,623 | 819,973 |
Schwab Core Equity Fund | 20,871,037 | 1,331,169 | (580,001) | 6,881 | 447,010 | 22,076,096 | 992,630 | 621,169 |
Schwab Dividend Equity Fund | 4,609,450 | 327,913 | — | — | (941,195) | 3,996,168 | 329,174 | 327,913 |
Schwab Global Real Estate Fund | 7,507,982 | 1,583,356 | — | — | (2,028,086) | 7,063,252 | 1,148,496 | 423,357 |
Schwab International Core Equity Fund | 15,675,852 | 2,864,659 | (510,000) | (170,252) | (1,401,468) | 16,458,791 | 1,806,673 | 584,658 |
Schwab S&P 500 Index Fund | 24,345,193 | 1,883,659 | (1,139,997) | (18,572) | 1,945,571 | 27,015,854 | 532,332 | 508,659 |
Schwab Short-Term Bond Index Fund | 2,096,302 | 673,280 | (362,806) | 7,898 | 48,207 | 2,462,881 | 237,730 | 40,478 |
Schwab Small-Cap Equity Fund | 8,357,484 | 689,559 | — | — | (765,596) | 8,281,447 | 551,361 | 9,558 |
Schwab U.S. Aggregate Bond Index Fund | 5,695,409 | 2,149,776 | (1,507,557) | 19,140 | 217,812 | 6,574,580 | 612,158 | 166,208 |
Schwab U.S. Mid-Cap Index Fund | 2,674,726 | 67,614 | — | — | 40,546 | 2,782,886 | 61,869 | 67,614 |
Schwab Variable Share Price Money Fund, Ultra Shares | 1,078,348 | 7,025 | (660,000) | 196 | (238) | 425,331 | 425,161 | 6,083 |
Total | $126,593,753 | $15,130,064 | ($8,125,361) | ($172,254) | $1,689,566 | $135,115,768 | $4,067,751 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $135,115,768 | $— | $— | $135,115,768 | |
Unaffiliated Underlying Funds1 | 41,465,746 | — | — | 41,465,746 | |
Short-Term Investment1 | — | 1,262,912 | — | 1,262,912 | |
Total | $176,581,514 | $1,262,912 | $— | $177,844,426 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $122,768,919) | $135,115,768 | |
Investments in unaffiliated funds and issuers, at value (cost $40,617,087) | 42,728,658 | |
Receivables: | ||
Investments sold | 143,001 | |
Fund shares sold | 134,189 | |
Dividends | 26,372 | |
Due from investment adviser | 6,294 | |
Prepaid expenses | + | 5,625 |
Total assets | 178,159,907 | |
Liabilities | ||
Payables: | ||
Investments bought | 26,257 | |
Fund shares redeemed | 100,992 | |
Accrued expenses | + | 40,946 |
Total liabilities | 168,195 | |
Net Assets | ||
Total assets | 178,159,907 | |
Total liabilities | – | 168,195 |
Net assets | $177,991,712 | |
Net Assets by Source | ||
Capital received from investors | 160,728,266 | |
Total distributable earnings | 17,263,446 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$177,991,712 | 12,870,707 | $13.83 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $2,421,546 | |
Dividends received from unaffiliated underlying funds | 739,711 | |
Interest | + | 4,540 |
Total investment income | 3,165,797 | |
Expenses | ||
Registration fees | 24,254 | |
Professional fees | 22,079 | |
Shareholder reports | 13,012 | |
Portfolio accounting fees | 12,554 | |
Independent trustees’ fees | 8,507 | |
Transfer agent fees | 4,310 | |
Custodian fees | 1,930 | |
Other expenses | + | 4,881 |
Total expenses | 91,527 | |
Expense reduction by CSIM and its affiliates | – | 91,527 |
Net expenses | – | — |
Net investment income | 3,165,797 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,646,205 | |
Realized capital gain distributions received from unaffiliated underlying funds | 1,091,817 | |
Net realized losses on sales of affiliated underlying funds | (172,254) | |
Net realized gains on sales of unaffiliated underlying funds | + | 46,856 |
Net realized gains | 2,612,624 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 1,689,566 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 1,170,416 |
Net change in unrealized appreciation (depreciation) | + | 2,859,982 |
Net realized and unrealized gains | 5,472,606 | |
Increase in net assets resulting from operations | $8,638,403 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $3,165,797 | $2,478,428 | ||
Net realized gains | 2,612,624 | 6,627,236 | ||
Net change in unrealized appreciation (depreciation) | + | 2,859,982 | 6,450,937 | |
Increase in net assets from operations | 8,638,403 | 15,556,601 | ||
Distributions to Shareholders | ||||
Total distributions | ($8,999,527) | ($8,203,160) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 2,950,192 | $38,924,237 | 2,379,015 | $31,439,276 | ||||
Shares reinvested | 634,950 | 8,781,363 | 685,490 | 8,033,942 | ||||
Shares redeemed | + | (2,390,959) | (31,369,522) | (1,786,094) | (23,623,378) | |||
Net transactions in fund shares | 1,194,183 | $16,336,078 | 1,278,411 | $15,849,840 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 11,676,524 | $162,016,758 | 10,398,113 | $138,813,477 | ||||
Total increase | + | 1,194,183 | 15,974,954 | 1,278,411 | 23,203,281 | |||
End of period | 12,870,707 | $177,991,712 | 11,676,524 | $162,016,758 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.03 | $13.49 | $14.07 | $12.08 | $12.60 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.25 | 0.21 | 0.21 | 0.16 | 0.15 | |
Net realized and unrealized gains (losses) | 0.45 | 1.11 | (0.41) | 2.47 | 0.01 | |
Total from investment operations | 0.70 | 1.32 | (0.20) | 2.63 | 0.16 | |
Less distributions: | ||||||
Distributions from net investment income | (0.27) | (0.31) | (0.36) | (0.18) | (0.23) | |
Distributions from net realized gains | (0.43) | (0.47) | (0.02) | (0.46) | (0.45) | |
Total distributions | (0.70) | (0.78) | (0.38) | (0.64) | (0.68) | |
Net asset value at end of period | $14.03 | $14.03 | $13.49 | $14.07 | $12.08 | |
Total return | 4.96% | 10.87% | (1.50%) | 22.68% | 1.39% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% | 0.00% | 0.00% 3 | 0.00% | 0.01% 4 | |
Gross operating expenses2 | 0.06% | 0.08% | 0.07% | 0.11% | 0.16% | |
Net investment income (loss) | 1.83% | 1.54% | 1.45% | 1.27% | 1.31% | |
Portfolio turnover rate | 5% | 7% | 10% | 10% | 1% | |
Net assets, end of period (x 1,000,000) | $181 | $161 | $122 | $104 | $68 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 77.4% of net assets | ||
Equity Funds 73.8% | ||
Global Real Estate 4.2% | ||
Schwab Global Real Estate Fund | 1,233,291 | 7,584,737 |
International 25.6% | ||
Laudus International MarketMasters Fund | 1,198,221 | 29,200,634 |
Schwab International Core Equity Fund | 1,887,526 | 17,195,358 |
46,395,992 | ||
Large-Cap 37.3% | ||
Laudus U.S. Large Cap Growth Fund | 450,807 | 12,216,880 |
Schwab Core Equity Fund | 1,042,596 | 23,187,335 |
Schwab Dividend Equity Fund | 410,868 | 4,987,939 |
Schwab S&P 500 Index Fund | 536,909 | 27,248,154 |
67,640,308 | ||
Mid-Cap 1.7% | ||
Schwab U.S. Mid-Cap Index Fund | 67,502 | 3,036,218 |
Small-Cap 5.0% | ||
Schwab Small-Cap Equity Fund | 612,718 | 9,203,031 |
133,860,286 | ||
Fixed-Income Funds 3.6% | ||
Intermediate-Term Bond 2.6% | ||
Schwab U.S. Aggregate Bond Index Fund | 441,375 | 4,740,365 |
Short-Term Bond 1.0% | ||
Schwab Short-Term Bond Index Fund | 164,997 | 1,709,365 |
6,449,730 | ||
Money Market Fund 0.0% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.03% (a) | 28,039 | 28,050 |
Total Affiliated Underlying Funds | ||
(Cost $128,994,923) | 140,338,066 | |
Unaffiliated Underlying Funds 21.8% of net assets | ||
Equity Funds 16.3% | ||
International 5.2% | ||
Goldman Sachs Emerging Markets Equity Insights Fund, Institutional Class | 929,729 | 9,520,430 |
Security | Number of Shares | Value ($) |
Large-Cap 8.8% | ||
ClearBridge Large Cap Growth Fund, Class IS | 78,515 | 4,967,612 |
Dodge & Cox Stock Fund | 67,693 | 11,057,056 |
16,024,668 | ||
Small-Cap 2.3% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 90,755 | 4,112,094 |
29,657,192 | ||
Fixed-Income Funds 5.5% | ||
Intermediate-Term Bond 4.2% | ||
Baird Aggregate Bond Fund, Institutional Class | 22,181 | 261,293 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 302,437 | 3,580,850 |
Metropolitan West Total Return Bond Fund, Class I | 324,533 | 3,754,842 |
7,596,985 | ||
International Bond 1.3% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 210,898 | 2,328,309 |
9,925,294 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $37,797,182) | 39,582,486 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.9% of net assets | ||
Time Deposit 0.9% | ||
Sumitomo Mitsui Trust Bank, Limited | ||
0.01%, 11/02/20 (b) | 1,735,340 | 1,735,340 |
Total Short-Term Investment | ||
(Cost $1,735,340) | 1,735,340 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $24,584,626 | $3,676,793 | ($909,000) | ($145,645) | $1,993,860 | $29,200,634 | 1,198,221 | $506,793 |
Laudus U.S. Large Cap Growth Fund | 10,892,497 | 914,008 | (1,830,000) | 175,111 | 2,065,264 | 12,216,880 | 450,807 | 914,008 |
Schwab Core Equity Fund | 21,314,438 | 1,668,961 | (160,000) | (21,610) | 385,546 | 23,187,335 | 1,042,596 | 638,961 |
Schwab Dividend Equity Fund | 4,969,277 | 1,110,853 | — | — | (1,092,191) | 4,987,939 | 410,868 | 360,853 |
Schwab Global Real Estate Fund | 7,550,419 | 2,126,019 | — | — | (2,091,701) | 7,584,737 | 1,233,291 | 436,017 |
Schwab International Core Equity Fund | 16,318,911 | 2,866,817 | (390,000) | (145,488) | (1,454,882) | 17,195,358 | 1,887,526 | 597,816 |
Schwab S&P 500 Index Fund | 24,190,315 | 2,620,033 | (1,340,000) | (115,604) | 1,893,410 | 27,248,154 | 536,909 | 506,002 |
Schwab Short-Term Bond Index Fund | 1,678,637 | 441,719 | (452,046) | 8,932 | 32,123 | 1,709,365 | 164,997 | 29,675 |
Schwab Small-Cap Equity Fund | 8,852,260 | 1,119,924 | — | — | (769,153) | 9,203,031 | 612,718 | 9,924 |
Schwab U.S. Aggregate Bond Index Fund | 4,110,083 | 863,863 | (389,963) | 3,673 | 152,709 | 4,740,365 | 441,375 | 113,875 |
Schwab U.S. Mid-Cap Index Fund | 2,677,178 | 317,675 | — | — | 41,365 | 3,036,218 | 67,502 | 67,676 |
Schwab Variable Share Price Money Fund, Ultra Shares | 694,379 | 3,673 | (670,000) | 152 | (154) | 28,050 | 28,039 | 3,064 |
Total | $127,833,020 | $17,730,338 | ($6,141,009) | ($240,479) | $1,156,196 | $140,338,066 | $4,184,664 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $140,338,066 | $— | $— | $140,338,066 | |
Unaffiliated Underlying Funds1 | 39,582,486 | — | — | 39,582,486 | |
Short-Term Investment1 | — | 1,735,340 | — | 1,735,340 | |
Total | $179,920,552 | $1,735,340 | $— | $181,655,892 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $128,994,923) | $140,338,066 | |
Investments in unaffiliated funds and issuers, at value (cost $39,532,522) | 41,317,826 | |
Receivables: | ||
Fund shares sold | 160,227 | |
Dividends | 18,605 | |
Due from investment adviser | 6,354 | |
Prepaid expenses | + | 5,897 |
Total assets | 181,846,975 | |
Liabilities | ||
Payables: | ||
Investments bought | 375,580 | |
Fund shares redeemed | 36,865 | |
Accrued expenses | + | 43,349 |
Total liabilities | 455,794 | |
Net Assets | ||
Total assets | 181,846,975 | |
Total liabilities | – | 455,794 |
Net assets | $181,391,181 | |
Net Assets by Source | ||
Capital received from investors | 165,649,580 | |
Total distributable earnings | 15,741,601 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$181,391,181 | 12,925,813 | $14.03 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $2,411,977 | |
Dividends received from unaffiliated underlying funds | 669,288 | |
Interest | + | 3,835 |
Total investment income | 3,085,100 | |
Expenses | ||
Registration fees | 23,847 | |
Professional fees | 22,045 | |
Shareholder reports | 15,144 | |
Portfolio accounting fees | 12,541 | |
Independent trustees’ fees | 8,503 | |
Transfer agent fees | 5,280 | |
Custodian fees | 1,735 | |
Other expenses | + | 4,878 |
Total expenses | 93,973 | |
Expense reduction by CSIM and its affiliates | – | 93,973 |
Net expenses | – | — |
Net investment income | 3,085,100 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,772,687 | |
Realized capital gain distributions received from unaffiliated underlying funds | 1,094,367 | |
Net realized losses on sales of affiliated underlying funds | (240,479) | |
Net realized losses on sales of unaffiliated underlying funds | + | (126,698) |
Net realized gains | 2,499,877 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 1,156,196 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 1,083,415 |
Net change in unrealized appreciation (depreciation) | + | 2,239,611 |
Net realized and unrealized gains | 4,739,488 | |
Increase in net assets resulting from operations | $7,824,588 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $3,085,100 | $2,199,900 | ||
Net realized gains | 2,499,877 | 5,687,326 | ||
Net change in unrealized appreciation (depreciation) | + | 2,239,611 | 6,762,154 | |
Increase in net assets from operations | 7,824,588 | 14,649,380 | ||
Distributions to Shareholders | ||||
Total distributions | ($8,146,453) | ($7,175,224) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 3,278,640 | $44,358,522 | 3,665,701 | $48,849,543 | ||||
Shares reinvested | 564,445 | 7,947,390 | 591,705 | 6,993,949 | ||||
Shares redeemed | + | (2,395,025) | (31,595,800) | (1,854,387) | (24,773,359) | |||
Net transactions in fund shares | 1,448,060 | $20,710,112 | 2,403,019 | $31,070,133 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 11,477,753 | $161,002,934 | 9,074,734 | $122,458,645 | ||||
Total increase | + | 1,448,060 | 20,388,247 | 2,403,019 | 38,544,289 | |||
End of period | 12,925,813 | $181,391,181 | 11,477,753 | $161,002,934 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 11/1/15– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.15 | $13.60 | $14.18 | $12.09 | $12.63 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.24 | 0.21 | 0.20 | 0.16 | 0.15 | |
Net realized and unrealized gains (losses) | 0.45 | 1.10 | (0.39) | 2.55 | 0.00 2 | |
Total from investment operations | 0.69 | 1.31 | (0.19) | 2.71 | 0.15 | |
Less distributions: | ||||||
Distributions from net investment income | (0.27) | (0.31) | (0.37) | (0.17) | (0.23) | |
Distributions from net realized gains | (0.46) | (0.45) | (0.02) | (0.45) | (0.46) | |
Total distributions | (0.73) | (0.76) | (0.39) | (0.62) | (0.69) | |
Net asset value at end of period | $14.11 | $14.15 | $13.60 | $14.18 | $12.09 | |
Total return | 4.86% | 10.73% | (1.49%) | 23.35% | 1.28% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses3 | 0.00% | 0.00% | 0.00% 4 | 0.00% | 0.01% 5 | |
Gross operating expenses3 | 0.09% | 0.13% | 0.11% | 0.19% | 0.27% | |
Net investment income (loss) | 1.78% | 1.53% | 1.41% | 1.24% | 1.26% | |
Portfolio turnover rate | 6% | 6% | 10% | 9% | 1% | |
Net assets, end of period (x 1,000,000) | $107 | $94 | $73 | $60 | $38 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 78.3% of net assets | ||
Equity Funds 75.8% | ||
Global Real Estate 4.4% | ||
Schwab Global Real Estate Fund | 762,121 | 4,687,042 |
International 26.1% | ||
Laudus International MarketMasters Fund | 719,406 | 17,531,912 |
Schwab International Core Equity Fund | 1,155,137 | 10,523,299 |
28,055,211 | ||
Large-Cap 38.4% | ||
Laudus U.S. Large Cap Growth Fund | 299,881 | 8,126,767 |
Schwab Core Equity Fund | 622,100 | 13,835,514 |
Schwab Dividend Equity Fund | 257,498 | 3,126,027 |
Schwab S&P 500 Index Fund | 318,545 | 16,166,175 |
41,254,483 | ||
Mid-Cap 1.7% | ||
Schwab U.S. Mid-Cap Index Fund | 41,976 | 1,888,066 |
Small-Cap 5.2% | ||
Schwab Small-Cap Equity Fund | 371,214 | 5,575,641 |
81,460,443 | ||
Fixed-Income Funds 2.5% | ||
Intermediate-Term Bond 1.8% | ||
Schwab U.S. Aggregate Bond Index Fund | 177,776 | 1,909,309 |
Short-Term Bond 0.7% | ||
Schwab Short-Term Bond Index Fund | 70,423 | 729,579 |
2,638,888 | ||
Total Affiliated Underlying Funds | ||
(Cost $77,083,048) | 84,099,331 | |
Unaffiliated Underlying Funds 21.0% of net assets | ||
Equity Funds 16.9% | ||
International 5.9% | ||
Goldman Sachs Emerging Markets Equity Insights Fund, Institutional Class | 619,475 | 6,343,425 |
Security | Number of Shares | Value ($) |
Large-Cap 8.6% | ||
ClearBridge Large Cap Growth Fund, Class IS | 44,017 | 2,784,931 |
Dodge & Cox Stock Fund | 39,493 | 6,450,791 |
9,235,722 | ||
Small-Cap 2.4% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 56,766 | 2,572,049 |
18,151,196 | ||
Fixed-Income Funds 4.1% | ||
Intermediate-Term Bond 3.3% | ||
Baird Aggregate Bond Fund, Institutional Class | 21,601 | 254,454 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 142,041 | 1,681,768 |
Metropolitan West Total Return Bond Fund, Class I | 139,457 | 1,613,519 |
3,549,741 | ||
International Bond 0.8% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 78,959 | 871,705 |
4,421,446 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $21,464,761) | 22,572,642 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.6% of net assets | ||
Time Deposit 0.6% | ||
Sumitomo Mitsui Banking Corp. | ||
0.01%, 11/02/20 (a) | 574,395 | 574,395 |
Total Short-Term Investment | ||
(Cost $574,395) | 574,395 |
* | Non-income producing security. |
(a) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $14,779,238 | $2,485,750 | ($979,000) | ($114,694) | $1,360,618 | $17,531,912 | 719,406 | $300,750 |
Laudus U.S. Large Cap Growth Fund | 6,907,119 | 850,446 | (1,015,000) | (6,751) | 1,390,953 | 8,126,767 | 299,881 | 600,445 |
Schwab Core Equity Fund | 12,628,257 | 995,845 | — | — | 211,412 | 13,835,514 | 622,100 | 375,845 |
Schwab Dividend Equity Fund | 3,133,035 | 658,363 | — | — | (665,371) | 3,126,027 | 257,498 | 228,363 |
Schwab Global Real Estate Fund | 4,497,300 | 1,490,772 | — | — | (1,301,030) | 4,687,042 | 762,121 | 266,772 |
Schwab International Core Equity Fund | 9,755,219 | 2,355,508 | (638,000) | (171,932) | (777,496) | 10,523,299 | 1,155,137 | 361,508 |
Schwab S&P 500 Index Fund | 13,941,998 | 1,538,531 | (450,000) | (43,477) | 1,179,123 | 16,166,175 | 318,545 | 293,530 |
Schwab Short-Term Bond Index Fund | 778,773 | 94,007 | (160,873) | 3,232 | 14,440 | 729,579 | 70,423 | 13,135 |
Schwab Small-Cap Equity Fund | 5,251,592 | 1,164,175 | (377,000) | (264,068) | (199,058) | 5,575,641 | 371,214 | 6,175 |
Schwab U.S. Aggregate Bond Index Fund | 1,593,363 | 1,202,564 | (960,221) | 13,692 | 59,911 | 1,909,309 | 177,776 | 48,339 |
Schwab U.S. Mid-Cap Index Fund | 1,579,537 | 239,928 | — | — | 68,601 | 1,888,066 | 41,976 | 39,929 |
Total | $74,845,431 | $13,075,889 | ($4,580,094) | ($583,998) | $1,342,103 | $84,099,331 | $2,534,791 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $84,099,331 | $— | $— | $84,099,331 | |
Unaffiliated Underlying Funds1 | 22,572,642 | — | — | 22,572,642 | |
Short-Term Investment1 | — | 574,395 | — | 574,395 | |
Total | $106,671,973 | $574,395 | $— | $107,246,368 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $77,083,048) | $84,099,331 | |
Investments in unaffiliated funds and issuers, at value (cost $22,039,156) | 23,147,037 | |
Receivables: | ||
Investments sold | 99,000 | |
Fund shares sold | 130,364 | |
Dividends | 7,839 | |
Due from investment adviser | 6,824 | |
Prepaid expenses | + | 4,620 |
Total assets | 107,495,015 | |
Liabilities | ||
Payables: | ||
Investments bought | 7,810 | |
Fund shares redeemed | 45,098 | |
Accrued expenses | + | 40,834 |
Total liabilities | 93,742 | |
Net Assets | ||
Total assets | 107,495,015 | |
Total liabilities | – | 93,742 |
Net assets | $107,401,273 | |
Net Assets by Source | ||
Capital received from investors | 98,121,276 | |
Total distributable earnings | 9,279,997 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$107,401,273 | 7,609,639 | $14.11 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $1,417,885 | |
Dividends received from unaffiliated underlying funds | 364,748 | |
Interest | + | 2,562 |
Total investment income | 1,785,195 | |
Expenses | ||
Professional fees | 21,831 | |
Registration fees | 21,559 | |
Shareholder reports | 15,552 | |
Portfolio accounting fees | 11,895 | |
Independent trustees’ fees | 8,201 | |
Transfer agent fees | 4,104 | |
Custodian fees | 1,936 | |
Other expenses | + | 4,229 |
Total expenses | 89,307 | |
Expense reduction by CSIM and its affiliates | – | 89,307 |
Net expenses | – | — |
Net investment income | 1,785,195 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,116,906 | |
Realized capital gain distributions received from unaffiliated underlying funds | 635,730 | |
Net realized losses on sales of affiliated underlying funds | (583,998) | |
Net realized losses on sales of unaffiliated underlying funds | + | (139,775) |
Net realized gains | 1,028,863 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 1,342,103 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 809,345 |
Net change in unrealized appreciation (depreciation) | + | 2,151,448 |
Net realized and unrealized gains | 3,180,311 | |
Increase in net assets resulting from operations | $4,965,506 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $1,785,195 | $1,267,248 | ||
Net realized gains | 1,028,863 | 3,688,542 | ||
Net change in unrealized appreciation (depreciation) | + | 2,151,448 | 3,614,466 | |
Increase in net assets from operations | 4,965,506 | 8,570,256 | ||
Distributions to Shareholders | ||||
Total distributions | ($4,969,426) | ($4,215,901) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 2,219,735 | $29,888,670 | 1,825,581 | $24,571,388 | ||||
Shares reinvested | 340,618 | 4,836,775 | 343,303 | 4,088,743 | ||||
Shares redeemed | + | (1,576,305) | (21,062,762) | (930,807) | (12,531,078) | |||
Net transactions in fund shares | 984,048 | $13,662,683 | 1,238,077 | $16,129,053 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 6,625,591 | $93,742,510 | 5,387,514 | $73,259,102 | ||||
Total increase | + | 984,048 | 13,658,763 | 1,238,077 | 20,483,408 | |||
End of period | 7,609,639 | $107,401,273 | 6,625,591 | $93,742,510 |
11/1/19– 10/31/20 | 11/1/18– 10/31/19 | 11/1/17– 10/31/18 | 11/1/16– 10/31/17 | 8/25/16 1– 10/31/16 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.16 | $11.53 | $12.02 | $9.83 | $10.00 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)2 | 0.20 | 0.16 | 0.14 | 0.08 | 0.01 | |
Net realized and unrealized gains (losses) | 0.38 | 0.99 | (0.32) | 2.22 | (0.18) | |
Total from investment operations | 0.58 | 1.15 | (0.18) | 2.30 | (0.17) | |
Less distributions: | ||||||
Distributions from net investment income | (0.22) | (0.26) | (0.29) | (0.11) | — | |
Distributions from net realized gains | (0.31) | (0.26) | (0.02) | — | — | |
Total distributions | (0.53) | (0.52) | (0.31) | (0.11) | — | |
Net asset value at end of period | $12.21 | $12.16 | $11.53 | $12.02 | $9.83 | |
Total return | 4.73% | 10.85% | (1.64%) | 23.63% | (1.70%) 3 | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses4 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% 5 | |
Gross operating expenses4 | 0.41% | 0.67% | 0.73% | 1.89% | 7.87% 5 | |
Net investment income (loss) | 1.67% | 1.42% | 1.18% | 0.75% | 0.43% 5 | |
Portfolio turnover rate | 8% | 13% | 22% | 7% | 0% 3 | |
Net assets, end of period (x 1,000,000) | $22 | $16 | $10 | $6 | $1 | |
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 79.2% of net assets | ||
Equity Funds 77.8% | ||
Global Real Estate 4.4% | ||
Schwab Global Real Estate Fund | 153,503 | 944,042 |
International 26.4% | ||
Laudus International MarketMasters Fund | 146,188 | 3,562,611 |
Schwab International Core Equity Fund | 233,521 | 2,127,378 |
5,689,989 | ||
Large-Cap 39.6% | ||
Laudus U.S. Large Cap Growth Fund | 65,057 | 1,763,036 |
Schwab Core Equity Fund | 126,754 | 2,819,014 |
Schwab Dividend Equity Fund | 55,784 | 677,221 |
Schwab S&P 500 Index Fund | 64,104 | 3,253,286 |
8,512,557 | ||
Mid-Cap 1.8% | ||
Schwab U.S. Mid-Cap Index Fund | 8,403 | 377,955 |
Small-Cap 5.6% | ||
Schwab Small-Cap Equity Fund | 79,988 | 1,201,420 |
16,725,963 | ||
Fixed-Income Funds 1.4% | ||
Intermediate-Term Bond 1.1% | ||
Schwab U.S. Aggregate Bond Index Fund | 21,634 | 232,349 |
Short-Term Bond 0.3% | ||
Schwab Short-Term Bond Index Fund | 7,552 | 78,241 |
310,590 | ||
Total Affiliated Underlying Funds | ||
(Cost $16,261,158) | 17,036,553 | |
Unaffiliated Underlying Funds 20.3% of net assets | ||
Equity Funds 17.5% | ||
International 6.3% | ||
Goldman Sachs Emerging Markets Equity Insights Fund, Institutional Class | 132,234 | 1,354,079 |
Security | Number of Shares | Value ($) |
Large-Cap 8.7% | ||
ClearBridge Large Cap Growth Fund, Class IS | 7,332 | 463,921 |
Dodge & Cox Stock Fund | 8,584 | 1,402,082 |
1,866,003 | ||
Small-Cap 2.5% | ||
ClearBridge Small Cap Growth Fund, Class IS * | 12,135 | 549,826 |
3,769,908 | ||
Fixed-Income Funds 2.8% | ||
Intermediate-Term Bond 2.2% | ||
Baird Aggregate Bond Fund, Institutional Class | 3,040 | 35,809 |
Loomis Sayles Investment Grade Bond Fund, Class Y | 17,854 | 211,390 |
Metropolitan West Total Return Bond Fund, Class I | 19,747 | 228,476 |
475,675 | ||
International Bond 0.6% | ||
PIMCO International Bond Fund (U.S. Dollar-Hedged), Institutional Class | 11,089 | 122,426 |
598,101 | ||
Total Unaffiliated Underlying Funds | ||
(Cost $4,177,166) | 4,368,009 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.8% of net assets | ||
Time Deposit 0.8% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.01%, 11/02/20 (a) | 162,141 | 162,141 |
Total Short-Term Investment | ||
(Cost $162,141) | 162,141 |
* | Non-income producing security. |
(a) | The rate shown is the current daily overnight rate. |
Affiliated Underlying Funds | Value at 10/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Value at 10/31/20 | Balance of Shares Held at 10/31/20 | Distributions Received* |
Laudus International MarketMasters Fund | $2,530,622 | $990,507 | ($214,000) | ($46,512) | $301,994 | $3,562,611 | 146,188 | $52,507 |
Laudus U.S. Large Cap Growth Fund | 1,244,898 | 369,395 | (134,000) | 205 | 282,538 | 1,763,036 | 65,057 | 107,395 |
Schwab Core Equity Fund | 2,162,028 | 786,687 | (166,000) | (21,046) | 57,345 | 2,819,014 | 126,754 | 65,687 |
Schwab Dividend Equity Fund | 542,402 | 308,932 | (40,000) | (12,523) | (121,590) | 677,221 | 55,784 | 43,932 |
Schwab Global Real Estate Fund | 769,641 | 411,152 | — | — | (236,751) | 944,042 | 153,503 | 47,151 |
Schwab International Core Equity Fund | 1,682,737 | 688,790 | (60,000) | (11,624) | (172,525) | 2,127,378 | 233,521 | 61,790 |
Schwab S&P 500 Index Fund | 2,369,029 | 1,053,859 | (350,000) | (33,028) | 213,426 | 3,253,286 | 64,104 | 49,859 |
Schwab Short-Term Bond Index Fund | 75,020 | 1,447 | (94) | — | 1,868 | 78,241 | 7,552 | 1,353 |
Schwab Small-Cap Equity Fund | 925,151 | 458,062 | (90,000) | (66,181) | (25,612) | 1,201,420 | 79,988 | 1,062 |
Schwab U.S. Aggregate Bond Index Fund | 200,897 | 152,067 | (128,488) | 1,706 | 6,167 | 232,349 | 21,634 | 5,578 |
Schwab U.S. Mid-Cap Index Fund | 274,719 | 90,944 | — | — | 12,292 | 377,955 | 8,403 | 6,945 |
Total | $12,777,144 | $5,311,842 | ($1,182,582) | ($189,003) | $319,152 | $17,036,553 | $443,259 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $17,036,553 | $— | $— | $17,036,553 | |
Unaffiliated Underlying Funds1 | 4,368,009 | — | — | 4,368,009 | |
Short-Term Investment1 | — | 162,141 | — | 162,141 | |
Total | $21,404,562 | $162,141 | $— | $21,566,703 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $16,261,158) | $17,036,553 | |
Investments in unaffiliated funds and issuers, at value (cost $4,339,307) | 4,530,150 | |
Receivables: | ||
Fund shares sold | 42,014 | |
Due from investment adviser | 5,539 | |
Dividends | 972 | |
Prepaid expenses | + | 12,043 |
Total assets | 21,627,271 | |
Liabilities | ||
Payables: | ||
Investments bought | 19,968 | |
Fund shares redeemed | 63,753 | |
Accrued expenses | + | 34,639 |
Total liabilities | 118,360 | |
Net Assets | ||
Total assets | 21,627,271 | |
Total liabilities | – | 118,360 |
Net assets | $21,508,911 | |
Net Assets by Source | ||
Capital received from investors | 20,531,997 | |
Total distributable earnings | 976,914 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$21,508,911 | 1,761,437 | $12.21 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $243,533 | |
Dividends received from unaffiliated underlying funds | 59,726 | |
Interest | + | 206 |
Total investment income | 303,465 | |
Expenses | ||
Professional fees | 21,538 | |
Registration fees | 20,949 | |
Portfolio accounting fees | 11,117 | |
Independent trustees’ fees | 7,836 | |
Shareholder reports | 6,479 | |
Custodian fees | 1,970 | |
Transfer agent fees | 1,309 | |
Other expenses | + | 3,491 |
Total expenses | 74,689 | |
Expense reduction by CSIM and its affiliates | – | 74,689 |
Net expenses | – | — |
Net investment income | 303,465 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 199,726 | |
Realized capital gain distributions received from unaffiliated underlying funds | 106,232 | |
Net realized losses on sales of affiliated underlying funds | (189,003) | |
Net realized losses on sales of unaffiliated underlying funds | + | (32,559) |
Net realized gains | 84,396 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | 319,152 | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 152,336 |
Net change in unrealized appreciation (depreciation) | + | 471,488 |
Net realized and unrealized gains | 555,884 | |
Increase in net assets resulting from operations | $859,349 |
Operations | ||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||
Net investment income | $303,465 | $188,772 | ||
Net realized gains | 84,396 | 412,453 | ||
Net change in unrealized appreciation (depreciation) | + | 471,488 | 760,621 | |
Increase in net assets from operations | 859,349 | 1,361,846 | ||
Distributions to Shareholders | ||||
Total distributions | ($715,136) | ($501,444) |
Transactions in Fund Shares | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 930,416 | $10,935,135 | 663,372 | $7,706,262 | ||||
Shares reinvested | 55,993 | 689,274 | 46,852 | 478,361 | ||||
Shares redeemed | + | (521,878) | (6,024,879) | (321,911) | (3,759,126) | |||
Net transactions in fund shares | 464,531 | $5,599,530 | 388,313 | $4,425,497 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/19-10/31/20 | 11/1/18-10/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 1,296,906 | $15,765,168 | 908,593 | $10,479,269 | ||||
Total increase | + | 464,531 | 5,743,743 | 388,313 | 5,285,899 | |||
End of period | 1,761,437 | $21,508,911 | 1,296,906 | $15,765,168 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Target 2010 Fund | Schwab Large-Cap Growth Fund |
Schwab Target 2015 Fund | Schwab Small-Cap Equity Fund |
Schwab Target 2020 Fund | Schwab Hedged Equity Fund |
Schwab Target 2025 Fund | Schwab Health Care Fund |
Schwab Target 2030 Fund | Schwab International Core Equity Fund |
Schwab Target 2035 Fund | Schwab Fundamental US Large Company Index Fund |
Schwab Target 2040 Fund | Schwab Fundamental US Small Company Index Fund |
Schwab Target 2045 Fund | Schwab Fundamental International Large Company Index Fund |
Schwab Target 2050 Fund | Schwab Fundamental International Small Company Index Fund |
Schwab Target 2055 Fund | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab Target 2060 Fund | Schwab Fundamental Global Real Estate Index Fund |
Schwab S&P 500 Index Fund | Schwab Target 2010 Index Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2015 Index Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2020 Index Fund |
Schwab U.S. Large-Cap Growth Index Fund | Schwab Target 2025 Index Fund |
Schwab U.S. Large-Cap Value Index Fund | Schwab Target 2030 Index Fund |
Schwab U.S. Mid-Cap Index Fund | Schwab Target 2035 Index Fund |
Schwab International Index Fund® | Schwab Target 2040 Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2045 Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2050 Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2055 Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2060 Index Fund |
Laudus International MarketMasters Fund™ | Schwab Monthly Income Fund - Moderate Payout |
Schwab Balanced Fund | Schwab Monthly Income Fund - Enhanced Payout |
Schwab Core Equity Fund | Schwab Monthly Income Fund - Maximum Payout |
Schwab Dividend Equity Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Underlying Funds | Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund |
Laudus International MarketMasters Fund | 0.3% | 0.4% | 3.2% | 4.6% | 9.1% | 5.1% | 11.3% | 2.2% | 2.4% | 1.4% | 0.3% |
Laudus U.S. Large Cap Growth Fund | —% | —% | —% | 0.3% | 0.8% | 0.6% | 1.7% | 0.4% | 0.4% | 0.3% | 0.1% |
Schwab Core Equity Fund | 0.1% | 0.2% | 1.4% | 2.4% | 4.7% | 2.6% | 5.8% | 1.1% | 1.2% | 0.7% | 0.1% |
Schwab Dividend Equity Fund | 0.0%* | 0.0%* | 0.1% | 0.2% | 1.3% | 1.2% | 3.4% | 0.7% | 0.9% | 0.5% | 0.1% |
Schwab Global Real Estate Fund | 0.3% | 0.5% | 3.9% | 5.8% | 11.8% | 6.5% | 15.0% | 2.9% | 3.1% | 1.9% | 0.4% |
Schwab International Core Equity Fund | 0.3% | 0.4% | 3.1% | 4.9% | 10.0% | 5.5% | 12.6% | 2.5% | 2.6% | 1.6% | 0.3% |
Schwab S&P 500 Index Fund | 0.0%* | 0.0%* | 0.1% | 0.2% | 0.3% | 0.2% | 0.3% | 0.1% | 0.1% | 0.0%* | 0.0%* |
Schwab Short-Term Bond Index Fund | 0.3% | 0.4% | 2.5% | 1.9% | 2.3% | 0.8% | 1.1% | 0.1% | 0.1% | 0.0%* | 0.0%* |
Schwab Small-Cap Equity Fund | 0.1% | 0.2% | 1.4% | 2.5% | 5.9% | 3.6% | 8.7% | 1.7% | 1.9% | 1.1% | 0.2% |
Schwab Treasury Inflation Protected Securities Index Fund | 0.2% | 0.3% | 2.0% | 0.8% | 0.3% | —% | —% | —% | —% | —% | —% |
Schwab U.S. Aggregate Bond Index Fund | 0.3% | 0.4% | 2.6% | 1.9% | 2.3% | 0.8% | 1.2% | 0.1% | 0.1% | 0.0%* | 0.0%* |
Schwab U.S. Mid-Cap Index Fund | 0.1% | 0.1% | 0.9% | 1.4% | 2.4% | 1.5% | 3.2% | 0.6% | 0.6% | 0.4% | 0.1% |
Schwab Variable Share Price Money Fund, Ultra Shares | 0.1% | 0.1% | 0.4% | 0.3% | 0.3% | 0.1% | 0.1% | 0.0%* | 0.0%* | —% | —% |
* | Less than 0.05% |
5. Board of Trustees:
6. Borrowing from Banks:
7. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities | |
Schwab Target 2010 Fund | $16,988,947 | $14,558,308 |
Schwab Target 2015 Fund | 11,477,741 | 18,354,735 |
Schwab Target 2020 Fund | 89,788,480 | 130,589,190 |
Schwab Target 2025 Fund | 91,293,477 | 111,533,103 |
Schwab Target 2030 Fund | 126,681,950 | 180,034,449 |
Schwab Target 2035 Fund | 57,134,668 | 71,932,716 |
Schwab Target 2040 Fund | 100,550,041 | 143,122,389 |
Schwab Target 2045 Fund | 23,381,161 | 10,385,361 |
Schwab Target 2050 Fund | 25,740,736 | 7,861,009 |
Schwab Target 2055 Fund | 18,074,253 | 5,920,094 |
Schwab Target 2060 Fund | 6,930,796 | 1,473,582 |
8. Federal Income Taxes:
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |||||||
Tax cost | $48,736,970 | $65,652,272 | $441,300,463 | $494,812,378 | $794,447,317 | $409,930,196 | $800,940,147 | ||||||
Gross unrealized appreciation | $7,449,046 | $12,405,294 | $87,386,975 | $88,709,729 | $188,686,748 | $77,596,910 | $207,751,978 | ||||||
Gross unrealized depreciation | (673,185) | (818,984) | (5,096,548) | (13,338,052) | (17,508,217) | (10,648,923) | (24,877,495) | ||||||
Net unrealized appreciation (depreciation) | $6,775,861 | $11,586,310 | $82,290,427 | $75,371,677 | $171,178,531 | $66,947,987 | $182,874,483 |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund | ||||
Tax cost | $163,896,724 | $169,217,916 | $99,813,919 | $20,865,432 | |||
Gross unrealized appreciation | $20,912,499 | $21,520,220 | $11,182,831 | $1,743,034 | |||
Gross unrealized depreciation | (6,964,797) | (9,082,244) | (3,750,382) | (1,041,763) | |||
Net unrealized appreciation (depreciation) | $13,947,702 | $12,437,976 | $7,432,449 | $701,271 |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |||||||
Undistributed ordinary income | $627,490 | $861,545 | $5,351,060 | $4,753,627 | $6,896,010 | $2,873,223 | $5,008,632 | ||||||
Undistributed long-term capital gains | 385,123 | 1,864,103 | 10,253,960 | 7,267,149 | 16,940,518 | 7,480,383 | 21,945,060 | ||||||
Net unrealized appreciation (depreciation) on investments | 6,775,861 | 11,586,310 | 82,290,427 | 75,371,677 | 171,178,531 | 66,947,987 | 182,874,483 | ||||||
Total | $7,788,474 | $14,311,958 | $97,895,447 | $87,392,453 | $195,015,059 | $77,301,593 | $209,828,175 |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund | ||||
Undistributed ordinary income | $722,521 | $630,488 | $340,162 | $57,261 | |||
Undistributed long-term capital gains | 2,593,223 | 2,673,137 | 1,507,386 | 218,382 | |||
Net unrealized appreciation (depreciation) on investments | 13,947,702 | 12,437,976 | 7,432,449 | 701,271 | |||
Total | $17,263,446 | $15,741,601 | $9,279,997 | $976,914 |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |
Current fiscal year end distributions | |||||||
Ordinary income | $1,314,831 | $2,018,665 | $13,636,822 | $13,898,587 | $23,515,128 | $10,709,488 | $21,322,805 |
Long-term capital gains | 1,204,227 | 2,170,460 | 16,329,586 | 17,306,186 | 41,149,887 | 19,394,717 | 54,339,154 |
Prior fiscal year end distributions | |||||||
Ordinary income | $1,495,169 | $2,479,149 | $14,329,454 | $13,118,422 | $23,478,753 | $10,929,045 | $23,580,844 |
Long-term capital gains | 1,406,565 | 1,713,184 | 15,403,874 | 15,468,604 | 36,194,339 | 17,030,972 | 47,677,500 |
�� | Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund |
Current fiscal year end distributions | ||||
Ordinary income | $3,301,292 | $3,187,945 | $1,817,735 | $302,277 |
Long-term capital gains | 5,698,235 | 4,958,508 | 3,151,691 | 412,859 |
Prior fiscal year end distributions | ||||
Ordinary income | $3,334,924 | $2,879,645 | $1,737,352 | $258,171 |
Long-term capital gains | 4,868,236 | 4,295,579 | 2,478,549 | 243,273 |
9. Independent Registered Public Accounting Firm:
10. Subsequent Events:
Denver, Colorado
December 16, 2020
Foreign Tax Credit | Foreign Source Income | |
Schwab Target 2010 Fund | $14,853 | $123,290 |
Schwab Target 2015 Fund | 24,871 | 206,451 |
Schwab Target 2020 Fund | 201,125 | 1,648,543 |
Schwab Target 2025 Fund | 300,493 | 2,381,625 |
Schwab Target 2030 Fund | 643,194 | 4,994,184 |
Schwab Target 2035 Fund | 360,385 | 2,752,465 |
Schwab Target 2040 Fund | 852,985 | 6,413,166 |
Schwab Target 2045 Fund | 153,331 | 1,141,621 |
Schwab Target 2050 Fund | 160,076 | 1,183,837 |
Schwab Target 2055 Fund | 97,079 | 716,865 |
Schwab Target 2060 Fund | 16,983 | 125,072 |
Percentage | |
Schwab Target 2010 Fund | 18.11 |
Schwab Target 2015 Fund | 20.21 |
Schwab Target 2020 Fund | 22.65 |
Schwab Target 2025 Fund | 25.88 |
Schwab Target 2030 Fund | 28.91 |
Schwab Target 2035 Fund | 31.25 |
Schwab Target 2040 Fund | 33.84 |
Schwab Target 2045 Fund | 33.15 |
Schwab Target 2050 Fund | 35.38 |
Schwab Target 2055 Fund | 36.20 |
Schwab Target 2060 Fund | 37.23 |
Schwab Target 2010 Fund | $384,055 |
Schwab Target 2015 Fund | 667,128 |
Schwab Target 2020 Fund | 5,186,716 |
Schwab Target 2025 Fund | 6,526,117 |
Schwab Target 2030 Fund | 12,976,350 |
Schwab Target 2035 Fund | 6,672,008 |
Schwab Target 2040 Fund | 14,993,217 |
Schwab Target 2045 Fund | 2,430,391 |
Schwab Target 2050 Fund | 2,522,027 |
Schwab Target 2055 Fund | 1,501,755 |
Schwab Target 2060 Fund | 257,907 |
Schwab Target 2010 Fund | $1,204,227 |
Schwab Target 2015 Fund | 2,170,460 |
Schwab Target 2020 Fund | 16,329,586 |
Schwab Target 2025 Fund | 17,306,186 |
Schwab Target 2030 Fund | 41,149,887 |
Schwab Target 2035 Fund | 19,394,717 |
Schwab Target 2040 Fund | 54,339,154 |
Schwab Target 2045 Fund | 5,698,235 |
Schwab Target 2050 Fund | 4,958,508 |
Schwab Target 2055 Fund | 3,151,691 |
Schwab Target 2060 Fund | 412,859 |
1. | the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds and benchmark data; |
3. | each Fund’s expenses and how those expenses compared to those of certain other similar mutual funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
1 | The meeting on June 9, 2020 was held telephonically in reliance on exemptive relief from the in-person voting requirement under the 1940 Act as provided by the Securities and Exchange Commission. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 100 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 100 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 100 | None |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting). | 100 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 100 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 100 | None |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 100 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 100 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors). | 100 | Director (2012 – present), Eaton Corporation plc |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 100 | Director (2008 – present), The Charles Schwab Corporation |
Interested Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Jonathan de St. Paer2 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. | 100 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 100 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present), Charles Schwab Investment Advisory, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Mr. de St. Paer and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
Item 2: Code of Ethics.
(a) | Registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other persons who perform a similar function, regardless of whether these individuals are employed by Registrant or a third party. |
(c) | During the period covered by the report, no amendments were made to the provisions of this code of ethics. |
(d) | During the period covered by the report, Registrant did not grant any waivers, including implicit waivers, from the provisions of this code of ethics. |
(f)(1) | Registrant has filed this code of ethics as an exhibit pursuant to Item 13(a)(1) of Form N-CSR. |
Item 3: Audit Committee Financial Expert.
Registrant’s Board of Trustees has determined that Kiran M. Patel and Kimberly S. Patmore, each currently serving on its audit, compliance and valuation committee, are each an “audit committee financial expert,” as such term is defined in Item 3 of Form N-CSR. Each member of Registrant’s audit, compliance and valuation committee is “independent” under the standards set forth in Item 3 of Form N-CSR.
The designation of each of Mr. Patel and Ms. Patmore as an “audit committee financial expert” pursuant to Item 3 of Form N-CSR does not (i) impose upon such individual any duties, obligations, or liability that are greater than the duties, obligations and liability imposed upon such individual as a member of Registrant’s audit, compliance and valuation committee or Board of Trustees in the absence of such designation; and (ii) affect the duties, obligations or liability of any other member of Registrant’s audit, compliance and valuation committee or Board of Trustees.
Item 4: Principal Accountant Fees and Services.
Registrant is composed of fifty-one operational series. Thirty-six series have a fiscal year-end of October 31, whose annual financial statements are reported in Item 1, three series have a fiscal year-end of December 31, eleven series have a fiscal year-end of March 31, and one series has a fiscal year-end of the last day of February. Principal accountant fees disclosed in Items 4(a)-(d) and 4(g) include fees billed for services rendered to the fifty-one operational series during 2020/2021 and 2019/2020, based on their respective 2020/2021 and 2019/2020 fiscal years, as applicable.
The following table presents fees billed by the principal accountant in each of the last two fiscal years for the services rendered to the Funds:
(a) Audit Fees | (b) Audit-Related Fees1 | (c) Tax Fees2 | (d) All Other Fees | |||||||||||
Fiscal Year | Fiscal Year 2018/2019 | Fiscal Year 2019/2020 | Fiscal Year 2018/2019 | Fiscal Year 2019/2020 | Fiscal Year 2018/2019 | Fiscal Year 2019/2020 | Fiscal Year 2018/2019 | |||||||
$1,203,450 | $1,517,001 | $90,000 | $87,870 | $158,100 | $177,307 | $0 | $0 |
1 | The nature of the services includes assurance and related services reasonably related to the performance of the audit of financial statements not included in Audit Fees. |
2 | The nature of the services includes tax compliance, tax advice and tax planning. |
(e) (1) | Registrant’s audit, compliance and valuation committee does not have pre-approval policies and procedures as described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. |
(2) | There were no services described in each of paragraphs (b) through (d) above (including services required to be approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X) that were approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. |
(f) Not applicable.
(g) Below are the aggregate non-audit fees billed in each of the last two fiscal years by Registrant’s principal accountant for services rendered to Registrant, to Registrant’s investment adviser, and to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant.
2019/2020: $3,570,594 2018/2019: $265,177
(h) | During the past fiscal year, all non-audit services provided by Registrant’s principal accountant to either Registrant’s investment adviser or to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant were pre-approved. Included in the audit, compliance and valuation committee’s pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant’s independence. |
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Schedule of Investments.
Except as noted below, the condensed schedules of investments are included as part of the report to shareholders filed under Item 1 of this Form. The schedules of investments for the Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund, Schwab Fundamental Emerging Markets Large Company Index Fund, Schwab S&P 500 Index Fund, Schwab Small-Cap Index Fund, Schwab Total Stock Market Index Fund, Schwab U.S. Large-Cap Growth Index Fund, Schwab U.S. Large-Cap Value Index Fund, Schwab U.S. Mid-Cap Index Fund and Schwab International Index Fund are filed under this Item.
Security | Number of Shares | Value ($) |
Common Stock 99.5% of net assets | ||
Automobiles & Components 0.4% | ||
Aptiv plc | 438,148 | 42,276,900 |
BorgWarner, Inc. | 396,197 | 13,858,971 |
Ford Motor Co. | 6,348,442 | 49,073,457 |
General Motors Co. | 2,040,951 | 70,474,038 |
175,683,366 | ||
Banks 3.5% | ||
Bank of America Corp. | 12,355,276 | 292,820,041 |
Citigroup, Inc. | 3,373,959 | 139,749,382 |
Citizens Financial Group, Inc. | 689,428 | 18,786,913 |
Comerica, Inc. | 227,778 | 10,366,177 |
Fifth Third Bancorp | 1,152,380 | 26,758,264 |
First Republic Bank | 278,689 | 35,153,830 |
Huntington Bancshares, Inc. | 1,660,055 | 17,330,974 |
JPMorgan Chase & Co. | 4,939,328 | 484,251,717 |
KeyCorp | 1,591,408 | 20,656,476 |
M&T Bank Corp. | 207,614 | 21,504,658 |
People's United Financial, Inc. | 696,109 | 7,427,483 |
Regions Financial Corp. | 1,563,420 | 20,793,486 |
SVB Financial Group * | 84,160 | 24,465,312 |
The PNC Financial Services Group, Inc. | 687,604 | 76,929,135 |
Truist Financial Corp. | 2,183,657 | 91,975,633 |
U.S. Bancorp | 2,220,696 | 86,496,109 |
Wells Fargo & Co. | 6,675,459 | 143,188,596 |
Zions Bancorp NA | 268,647 | 8,669,239 |
1,527,323,425 | ||
Capital Goods 5.6% | ||
3M Co. | 933,306 | 149,291,628 |
A.O. Smith Corp. | 219,980 | 11,370,766 |
Allegion plc | 149,131 | 14,689,403 |
AMETEK, Inc. | 372,803 | 36,609,255 |
Carrier Global Corp. | 1,315,841 | 43,935,931 |
Caterpillar, Inc. | 877,639 | 137,833,205 |
Cummins, Inc. | 239,059 | 52,566,683 |
Deere & Co. | 508,530 | 114,882,012 |
Dover Corp. | 233,006 | 25,796,094 |
Eaton Corp. plc | 649,518 | 67,413,473 |
Emerson Electric Co. | 970,378 | 62,870,791 |
Fastenal Co. | 932,304 | 40,303,502 |
Flowserve Corp. | 214,867 | 6,256,927 |
Fortive Corp. | 545,861 | 33,625,038 |
Fortune Brands Home & Security, Inc. | 224,138 | 18,126,040 |
General Dynamics Corp. | 376,980 | 49,508,783 |
General Electric Co. | 14,188,244 | 105,276,770 |
Honeywell International, Inc. | 1,137,520 | 187,633,924 |
Howmet Aerospace, Inc. | 635,567 | 10,963,531 |
Huntington Ingalls Industries, Inc. | 66,244 | 9,769,665 |
IDEX Corp. | 122,985 | 20,955,414 |
Illinois Tool Works, Inc. | 466,226 | 91,324,349 |
Ingersoll Rand, Inc. * | 601,015 | 20,999,464 |
Jacobs Engineering Group, Inc. | 209,996 | 19,949,620 |
Johnson Controls International plc | 1,205,547 | 50,886,139 |
L3Harris Technologies, Inc. | 350,471 | 56,464,383 |
Security | Number of Shares | Value ($) |
Lockheed Martin Corp. | 398,635 | 139,574,073 |
Masco Corp. | 423,445 | 22,696,652 |
Northrop Grumman Corp. | 251,208 | 72,805,103 |
Otis Worldwide Corp. | 658,784 | 40,370,283 |
PACCAR, Inc. | 560,261 | 47,835,084 |
Parker-Hannifin Corp. | 208,760 | 43,497,234 |
Pentair plc | 267,212 | 13,296,469 |
Quanta Services, Inc. | 225,376 | 14,070,224 |
Raytheon Technologies Corp. | 2,475,215 | 134,453,679 |
Rockwell Automation, Inc. | 188,495 | 44,695,934 |
Roper Technologies, Inc. | 169,702 | 63,017,141 |
Snap-on, Inc. | 88,352 | 13,918,091 |
Stanley Black & Decker, Inc. | 258,692 | 42,994,610 |
Teledyne Technologies, Inc. * | 60,065 | 18,569,095 |
Textron, Inc. | 370,069 | 13,248,470 |
The Boeing Co. | 860,056 | 124,183,486 |
Trane Technologies plc | 388,961 | 51,634,573 |
TransDigm Group, Inc. | 87,828 | 41,929,965 |
United Rentals, Inc. * | 116,376 | 20,748,677 |
W.W. Grainger, Inc. | 72,865 | 25,504,207 |
Westinghouse Air Brake Technologies Corp. | 289,556 | 17,170,671 |
Xylem, Inc. | 291,223 | 25,377,172 |
2,470,893,683 | ||
Commercial & Professional Services 0.7% | ||
Cintas Corp. | 140,863 | 44,308,457 |
Copart, Inc. * | 335,319 | 37,005,805 |
Equifax, Inc. | 197,067 | 26,919,352 |
IHS Markit Ltd. | 604,866 | 48,915,513 |
Nielsen Holdings plc | 585,745 | 7,913,415 |
Republic Services, Inc. | 341,254 | 30,088,365 |
Robert Half International, Inc. | 183,797 | 9,316,670 |
Rollins, Inc. | 238,494 | 13,796,878 |
Verisk Analytics, Inc. | 263,205 | 46,842,594 |
Waste Management, Inc. | 629,376 | 67,915,964 |
333,023,013 | ||
Consumer Durables & Apparel 1.2% | ||
D.R. Horton, Inc. | 536,549 | 35,846,839 |
Garmin Ltd. | 241,755 | 25,147,355 |
Hanesbrands, Inc. | 570,321 | 9,165,059 |
Hasbro, Inc. | 207,951 | 17,201,707 |
Leggett & Platt, Inc. | 212,099 | 8,850,891 |
Lennar Corp., Class A | 446,362 | 31,348,003 |
Mohawk Industries, Inc. * | 97,293 | 10,039,665 |
Newell Brands, Inc. | 606,979 | 10,719,249 |
NIKE, Inc., Class B | 2,017,430 | 242,252,994 |
NVR, Inc. * | 5,656 | 22,358,677 |
PulteGroup, Inc. | 435,318 | 17,743,562 |
PVH Corp. | 116,177 | 6,771,957 |
Ralph Lauren Corp. | 78,271 | 5,232,416 |
Tapestry, Inc. | 441,730 | 9,819,658 |
Under Armour, Inc., Class A * | 309,404 | 4,282,151 |
Under Armour, Inc., Class C * | 313,942 | 3,839,511 |
Security | Number of Shares | Value ($) |
VF Corp. | 517,477 | 34,774,454 |
Whirlpool Corp. | 100,586 | 18,604,387 |
513,998,535 | ||
Consumer Services 1.6% | ||
Carnival Corp. | 839,831 | 11,514,083 |
Chipotle Mexican Grill, Inc. * | 45,323 | 54,454,678 |
Darden Restaurants, Inc. | 210,159 | 19,317,815 |
Domino's Pizza, Inc. | 63,965 | 24,199,239 |
Hilton Worldwide Holdings, Inc. | 450,009 | 39,515,290 |
Las Vegas Sands Corp. | 532,447 | 25,589,403 |
Marriott International, Inc., Class A | 431,289 | 40,058,122 |
McDonald's Corp. | 1,206,199 | 256,920,387 |
MGM Resorts International | 664,256 | 13,663,746 |
Norwegian Cruise Line Holdings Ltd. * | 447,203 | 7,436,986 |
Royal Caribbean Cruises Ltd. | 288,972 | 16,303,800 |
Starbucks Corp. | 1,894,999 | 164,789,113 |
Wynn Resorts Ltd. | 156,385 | 11,326,966 |
Yum! Brands, Inc. | 488,860 | 45,625,304 |
730,714,932 | ||
Diversified Financials 4.5% | ||
American Express Co. | 1,057,353 | 96,472,888 |
Ameriprise Financial, Inc. | 194,963 | 31,355,899 |
Berkshire Hathaway, Inc., Class B * | 3,212,682 | 648,640,496 |
BlackRock, Inc. | 229,877 | 137,744,597 |
Capital One Financial Corp. | 740,269 | 54,098,859 |
Cboe Global Markets, Inc. | 176,297 | 14,331,183 |
CME Group, Inc. | 581,163 | 87,592,887 |
Discover Financial Services | 496,026 | 32,246,650 |
Franklin Resources, Inc. | 433,688 | 8,131,650 |
Intercontinental Exchange, Inc. | 909,371 | 85,844,623 |
Invesco Ltd. | 611,421 | 8,015,729 |
MarketAxess Holdings, Inc. | 61,607 | 33,196,932 |
Moody's Corp. | 261,396 | 68,721,009 |
Morgan Stanley | 2,315,081 | 111,471,150 |
MSCI, Inc. | 135,563 | 47,425,360 |
Nasdaq, Inc. | 185,705 | 22,468,448 |
Northern Trust Corp. | 337,520 | 26,417,691 |
Raymond James Financial, Inc. | 199,418 | 15,243,512 |
S&P Global, Inc. | 390,689 | 126,087,061 |
State Street Corp. | 572,441 | 33,716,775 |
Synchrony Financial | 879,818 | 22,013,046 |
T. Rowe Price Group, Inc. | 367,967 | 46,606,700 |
The Bank of New York Mellon Corp. | 1,319,970 | 45,354,169 |
The Charles Schwab Corp. (a) | 2,391,011 | 98,294,462 |
The Goldman Sachs Group, Inc. | 557,556 | 105,400,386 |
2,006,892,162 | ||
Energy 2.0% | ||
Apache Corp. | 618,239 | 5,131,384 |
Baker Hughes Co. | 1,058,514 | 15,634,252 |
Cabot Oil & Gas Corp. | 640,523 | 11,394,904 |
Chevron Corp. | 3,120,307 | 216,861,337 |
Concho Resources, Inc. | 317,479 | 13,178,553 |
ConocoPhillips | 1,739,733 | 49,791,158 |
Devon Energy Corp. | 619,855 | 5,535,305 |
Diamondback Energy, Inc. | 253,043 | 6,568,996 |
EOG Resources, Inc. | 941,415 | 32,234,050 |
Exxon Mobil Corp. | 6,855,647 | 223,631,205 |
Halliburton Co. | 1,419,024 | 17,113,429 |
Hess Corp. | 443,616 | 16,511,388 |
HollyFrontier Corp. | 240,558 | 4,452,729 |
Kinder Morgan, Inc. | 3,148,132 | 37,462,771 |
Marathon Oil Corp. | 1,300,665 | 5,150,633 |
Security | Number of Shares | Value ($) |
Marathon Petroleum Corp. | 1,055,566 | 31,139,197 |
National Oilwell Varco, Inc. | 629,693 | 5,289,421 |
Occidental Petroleum Corp. | 1,359,775 | 12,414,746 |
ONEOK, Inc. | 720,731 | 20,901,199 |
Phillips 66 | 707,124 | 32,994,406 |
Pioneer Natural Resources Co. | 267,016 | 21,243,793 |
Schlumberger N.V. | 2,252,819 | 33,657,116 |
TechnipFMC plc | 696,083 | 3,849,339 |
The Williams Cos., Inc. | 1,968,700 | 37,779,353 |
Valero Energy Corp. | 658,994 | 25,443,758 |
885,364,422 | ||
Food & Staples Retailing 1.6% | ||
Costco Wholesale Corp. | 715,756 | 255,968,661 |
Sysco Corp. | 822,890 | 45,514,046 |
The Kroger Co. | 1,261,039 | 40,618,066 |
Walgreens Boots Alliance, Inc. | 1,166,055 | 39,692,512 |
Walmart, Inc. | 2,250,718 | 312,287,122 |
694,080,407 | ||
Food, Beverage & Tobacco 3.4% | ||
Altria Group, Inc. | 3,012,722 | 108,699,010 |
Archer-Daniels-Midland Co. | 902,445 | 41,729,057 |
Brown-Forman Corp., Class B | 296,959 | 20,701,012 |
Campbell Soup Co. | 327,651 | 15,291,472 |
Conagra Brands, Inc. | 790,756 | 27,747,628 |
Constellation Brands, Inc., Class A | 272,407 | 45,009,809 |
General Mills, Inc. | 989,472 | 58,497,585 |
Hormel Foods Corp. | 453,955 | 22,103,069 |
Kellogg Co. | 410,860 | 25,838,985 |
Lamb Weston Holdings, Inc. | 235,752 | 14,958,464 |
McCormick & Co., Inc. - Non Voting Shares | 201,156 | 36,310,669 |
Molson Coors Beverage Co., Class B | 306,615 | 10,811,245 |
Mondelez International, Inc., Class A | 2,315,339 | 122,990,808 |
Monster Beverage Corp. * | 598,210 | 45,804,940 |
PepsiCo, Inc. | 2,244,122 | 299,119,021 |
Philip Morris International, Inc. | 2,524,311 | 179,276,567 |
The Coca-Cola Co. | 6,266,381 | 301,162,271 |
The Hershey Co. | 239,832 | 32,967,307 |
The JM Smucker Co. | 184,481 | 20,698,768 |
The Kraft Heinz Co. | 1,049,133 | 32,092,978 |
Tyson Foods, Inc., Class A | 477,917 | 27,351,190 |
1,489,161,855 | ||
Health Care Equipment & Services 6.7% | ||
Abbott Laboratories | 2,870,109 | 301,677,157 |
ABIOMED, Inc. * | 72,805 | 18,338,123 |
Align Technology, Inc. * | 116,021 | 49,434,228 |
AmerisourceBergen Corp. | 238,301 | 22,893,577 |
Anthem, Inc. | 407,742 | 111,232,018 |
Baxter International, Inc. | 820,766 | 63,666,819 |
Becton, Dickinson & Co. | 469,893 | 108,606,369 |
Boston Scientific Corp. * | 2,317,969 | 79,436,798 |
Cardinal Health, Inc. | 471,916 | 21,609,034 |
Centene Corp. * | 941,322 | 55,632,130 |
Cerner Corp. | 494,930 | 34,689,644 |
Cigna Corp. | 595,352 | 99,405,923 |
CVS Health Corp. | 2,119,644 | 118,890,832 |
Danaher Corp. | 1,023,164 | 234,857,065 |
DaVita, Inc. * | 121,964 | 10,519,395 |
DENTSPLY SIRONA, Inc. | 353,081 | 16,661,892 |
DexCom, Inc. * | 155,185 | 49,594,022 |
Edwards Lifesciences Corp. * | 1,007,036 | 72,194,411 |
HCA Healthcare, Inc. | 427,184 | 52,945,185 |
Security | Number of Shares | Value ($) |
Henry Schein, Inc. * | 229,653 | 14,601,338 |
Hologic, Inc. * | 419,181 | 28,848,036 |
Humana, Inc. | 214,497 | 85,644,362 |
IDEXX Laboratories, Inc. * | 137,692 | 58,494,315 |
Intuitive Surgical, Inc. * | 189,764 | 126,587,769 |
Laboratory Corp. of America Holdings * | 157,823 | 31,528,301 |
McKesson Corp. | 263,352 | 38,841,786 |
Medtronic plc | 2,178,195 | 219,061,071 |
Quest Diagnostics, Inc. | 216,727 | 26,471,036 |
ResMed, Inc. | 235,631 | 45,227,014 |
STERIS plc | 138,566 | 24,552,510 |
Stryker Corp. | 529,720 | 107,008,737 |
Teleflex, Inc. | 75,329 | 23,971,948 |
The Cooper Cos., Inc. | 79,418 | 25,338,313 |
UnitedHealth Group, Inc. | 1,540,479 | 470,061,762 |
Universal Health Services, Inc., Class B | 126,672 | 13,876,918 |
Varian Medical Systems, Inc. * | 148,214 | 25,611,379 |
West Pharmaceutical Services, Inc. | 119,892 | 32,619,016 |
Zimmer Biomet Holdings, Inc. | 335,095 | 44,266,049 |
2,964,896,282 | ||
Household & Personal Products 2.0% | ||
Church & Dwight Co., Inc. | 399,760 | 35,334,786 |
Colgate-Palmolive Co. | 1,389,178 | 109,592,252 |
Kimberly-Clark Corp. | 552,476 | 73,252,793 |
The Clorox Co. | 204,811 | 42,447,080 |
The Estee Lauder Cos., Inc., Class A | 365,401 | 80,263,984 |
The Procter & Gamble Co. | 4,035,300 | 553,239,630 |
894,130,525 | ||
Insurance 1.8% | ||
Aflac, Inc. | 1,074,784 | 36,488,917 |
American International Group, Inc. | 1,394,220 | 43,903,988 |
Aon plc, Class A | 375,926 | 69,174,143 |
Arthur J. Gallagher & Co. | 310,416 | 32,193,243 |
Assurant, Inc. | 96,843 | 12,044,364 |
Chubb Ltd. | 731,470 | 95,025,268 |
Cincinnati Financial Corp. | 242,364 | 17,144,829 |
Everest Re Group Ltd. | 65,174 | 12,844,492 |
Globe Life, Inc. | 160,163 | 12,987,618 |
Lincoln National Corp. | 294,627 | 10,341,408 |
Loews Corp. | 388,941 | 13,488,474 |
Marsh & McLennan Cos., Inc. | 820,898 | 84,930,107 |
MetLife, Inc. | 1,250,199 | 47,320,032 |
Principal Financial Group, Inc. | 410,920 | 16,116,282 |
Prudential Financial, Inc. | 639,191 | 40,921,008 |
The Allstate Corp. | 506,094 | 44,915,842 |
The Hartford Financial Services Group, Inc. | 580,623 | 22,365,598 |
The Progressive Corp. | 948,658 | 87,181,670 |
The Travelers Cos., Inc. | 410,009 | 49,492,186 |
Unum Group | 335,134 | 5,918,466 |
W.R. Berkley Corp. | 227,713 | 13,690,106 |
Willis Towers Watson plc | 208,524 | 38,051,460 |
806,539,501 | ||
Materials 2.7% | ||
Air Products & Chemicals, Inc. | 358,023 | 98,900,274 |
Albemarle Corp. | 173,263 | 16,149,844 |
Amcor plc | 2,532,743 | 26,416,509 |
Avery Dennison Corp. | 136,120 | 18,837,647 |
Ball Corp. | 530,208 | 47,188,512 |
Celanese Corp. | 191,440 | 21,730,354 |
CF Industries Holdings, Inc. | 342,817 | 9,465,177 |
Corteva, Inc. | 1,216,177 | 40,109,517 |
Security | Number of Shares | Value ($) |
Dow, Inc. | 1,201,349 | 54,649,366 |
DuPont de Nemours, Inc. | 1,188,727 | 67,614,792 |
Eastman Chemical Co. | 218,456 | 17,659,983 |
Ecolab, Inc. | 402,300 | 73,858,257 |
FMC Corp. | 209,478 | 21,521,770 |
Freeport-McMoRan, Inc. | 2,357,412 | 40,877,524 |
International Flavors & Fragrances, Inc. (b) | 173,384 | 17,799,601 |
International Paper Co. | 637,145 | 27,875,094 |
Linde plc | 851,574 | 187,635,815 |
LyondellBasell Industries N.V., Class A | 416,698 | 28,522,978 |
Martin Marietta Materials, Inc. | 101,050 | 26,914,668 |
Newmont Corp. | 1,301,575 | 81,790,973 |
Nucor Corp. | 488,047 | 23,309,125 |
Packaging Corp. of America | 154,327 | 17,668,898 |
PPG Industries, Inc. | 383,258 | 49,716,228 |
Sealed Air Corp. | 250,203 | 9,905,537 |
The Mosaic Co. | 562,547 | 10,407,120 |
The Sherwin-Williams Co. | 132,791 | 91,357,552 |
Vulcan Materials Co. | 214,713 | 31,099,031 |
WestRock Co. | 417,722 | 15,685,461 |
1,174,667,607 | ||
Media & Entertainment 9.3% | ||
Activision Blizzard, Inc. | 1,251,217 | 94,754,663 |
Alphabet, Inc., Class A * | 487,031 | 787,095,669 |
Alphabet, Inc., Class C * | 475,882 | 771,409,481 |
Charter Communications, Inc., Class A * | 242,494 | 146,422,727 |
Comcast Corp., Class A | 7,389,397 | 312,128,129 |
Discovery, Inc., Class A * | 259,079 | 5,243,759 |
Discovery, Inc., Class C * | 503,004 | 9,215,033 |
DISH Network Corp., Class A * | 400,137 | 10,199,492 |
Electronic Arts, Inc. * | 468,939 | 56,192,960 |
Facebook, Inc., Class A * | 3,897,113 | 1,025,369,402 |
Fox Corp., Class A | 553,584 | 14,681,048 |
Fox Corp., Class B | 258,291 | 6,751,727 |
Live Nation Entertainment, Inc. * | 230,721 | 11,259,185 |
Netflix, Inc. * | 715,005 | 340,156,479 |
News Corp., Class A | 624,330 | 8,197,453 |
News Corp., Class B | 204,109 | 2,657,499 |
Omnicom Group, Inc. | 345,760 | 16,319,872 |
Take-Two Interactive Software, Inc. * | 184,887 | 28,642,694 |
The Interpublic Group of Cos., Inc. | 626,857 | 11,339,843 |
The Walt Disney Co. | 2,929,198 | 355,165,258 |
Twitter, Inc. * | 1,283,109 | 53,069,388 |
ViacomCBS, Inc., Class B | 913,980 | 26,112,409 |
4,092,384,170 | ||
Pharmaceuticals, Biotechnology & Life Sciences 7.3% | ||
AbbVie, Inc. | 2,860,791 | 243,453,314 |
Agilent Technologies, Inc. | 499,937 | 51,038,568 |
Alexion Pharmaceuticals, Inc. * | 355,309 | 40,910,278 |
Amgen, Inc. | 949,368 | 205,955,894 |
Bio-Rad Laboratories, Inc., Class A * | 34,574 | 20,274,885 |
Biogen, Inc. * | 256,617 | 64,685,447 |
Bristol-Myers Squibb Co. | 3,653,695 | 213,558,473 |
Catalent, Inc. * | 265,969 | 23,344,099 |
Eli Lilly & Co. | 1,286,823 | 167,878,929 |
Gilead Sciences, Inc. | 2,032,127 | 118,168,185 |
Illumina, Inc. * | 236,668 | 69,272,724 |
Incyte Corp. * | 301,192 | 26,095,275 |
IQVIA Holdings, Inc. * | 310,036 | 47,742,444 |
Johnson & Johnson | 4,267,622 | 585,133,652 |
Merck & Co., Inc. | 4,099,769 | 308,343,626 |
Mettler-Toledo International, Inc. * | 38,851 | 38,769,801 |
Mylan N.V. * | 831,870 | 12,095,390 |
Security | Number of Shares | Value ($) |
PerkinElmer, Inc. | 182,047 | 23,584,189 |
Perrigo Co., plc | 221,431 | 9,714,178 |
Pfizer, Inc. | 9,007,472 | 319,585,107 |
Regeneron Pharmaceuticals, Inc. * | 169,418 | 92,088,848 |
Thermo Fisher Scientific, Inc. | 641,234 | 303,380,630 |
Vertex Pharmaceuticals, Inc. * | 422,516 | 88,035,434 |
Waters Corp. * | 100,119 | 22,308,516 |
Zoetis, Inc. | 770,035 | 122,089,049 |
3,217,506,935 | ||
Real Estate 2.6% | ||
Alexandria Real Estate Equities, Inc. | 190,282 | 28,831,529 |
American Tower Corp. | 719,047 | 165,129,144 |
Apartment Investment & Management Co., Class A | 244,064 | 7,785,642 |
AvalonBay Communities, Inc. | 228,286 | 31,761,431 |
Boston Properties, Inc. | 229,921 | 16,648,580 |
CBRE Group, Inc., Class A * | 544,640 | 27,449,856 |
Crown Castle International Corp. | 680,138 | 106,237,556 |
Digital Realty Trust, Inc. | 435,898 | 62,900,081 |
Duke Realty Corp. | 597,584 | 22,702,216 |
Equinix, Inc. | 143,467 | 104,908,809 |
Equity Residential | 555,429 | 26,094,054 |
Essex Property Trust, Inc. | 105,765 | 21,638,461 |
Extra Space Storage, Inc. | 209,138 | 24,249,551 |
Federal Realty Investment Trust | 111,857 | 7,693,524 |
Healthpeak Properties, Inc. | 871,031 | 23,491,706 |
Host Hotels & Resorts, Inc. | 1,135,050 | 11,895,324 |
Iron Mountain, Inc. | 470,412 | 12,258,937 |
Kimco Realty Corp. | 707,740 | 7,261,412 |
Mid-America Apartment Communities, Inc. | 184,742 | 21,546,459 |
Prologis, Inc. | 1,197,680 | 118,809,856 |
Public Storage | 246,437 | 56,451,324 |
Realty Income Corp. | 560,524 | 32,431,919 |
Regency Centers Corp. | 256,222 | 9,118,941 |
SBA Communications Corp. | 181,718 | 52,765,456 |
Simon Property Group, Inc. | 494,205 | 31,041,016 |
SL Green Realty Corp. | 119,004 | 5,094,561 |
UDR, Inc. | 476,303 | 14,879,706 |
Ventas, Inc. | 606,081 | 23,922,017 |
Vornado Realty Trust | 253,033 | 7,775,704 |
Welltower, Inc. | 674,651 | 36,275,984 |
Weyerhaeuser Co. | 1,211,147 | 33,052,202 |
1,152,102,958 | ||
Retailing 8.3% | ||
Advance Auto Parts, Inc. | 111,733 | 16,456,036 |
Amazon.com, Inc. * | 690,098 | 2,095,241,043 |
AutoZone, Inc. * | 37,829 | 42,708,184 |
Best Buy Co., Inc. | 373,450 | 41,658,348 |
Booking Holdings, Inc. * | 66,383 | 107,706,417 |
CarMax, Inc. * | 263,413 | 22,769,420 |
Dollar General Corp. | 403,710 | 84,258,314 |
Dollar Tree, Inc. * | 385,807 | 34,846,088 |
eBay, Inc. | 1,077,596 | 51,325,897 |
Etsy, Inc. * | 193,429 | 23,519,032 |
Expedia Group, Inc. | 218,937 | 20,612,919 |
Genuine Parts Co. | 234,004 | 21,160,982 |
L Brands, Inc. | 375,426 | 12,017,386 |
LKQ Corp. * | 454,568 | 14,541,630 |
Lowe's Cos., Inc. | 1,225,286 | 193,717,717 |
O'Reilly Automotive, Inc. * | 120,113 | 52,441,336 |
Pool Corp. | 64,925 | 22,712,713 |
Ross Stores, Inc. | 576,385 | 49,090,710 |
Target Corp. | 810,967 | 123,445,397 |
Security | Number of Shares | Value ($) |
The Gap, Inc. | 333,890 | 6,494,161 |
The Home Depot, Inc. | 1,744,990 | 465,406,283 |
The TJX Cos., Inc. | 1,944,210 | 98,765,868 |
Tiffany & Co. | 174,650 | 22,851,206 |
Tractor Supply Co. | 189,177 | 25,200,268 |
Ulta Beauty, Inc. * | 90,978 | 18,811,521 |
3,667,758,876 | ||
Semiconductors & Semiconductor Equipment 5.0% | ||
Advanced Micro Devices, Inc. * | 1,903,270 | 143,297,198 |
Analog Devices, Inc. | 598,513 | 70,941,746 |
Applied Materials, Inc. | 1,480,430 | 87,685,869 |
Broadcom, Inc. | 651,831 | 227,899,673 |
Intel Corp. | 6,892,979 | 305,221,110 |
KLA Corp. | 252,604 | 49,808,457 |
Lam Research Corp. | 236,203 | 80,800,322 |
Maxim Integrated Products, Inc. | 432,799 | 30,144,450 |
Microchip Technology, Inc. | 409,093 | 42,987,492 |
Micron Technology, Inc. * | 1,800,966 | 90,660,628 |
NVIDIA Corp. | 1,000,023 | 501,371,531 |
Qorvo, Inc. * | 185,232 | 23,591,148 |
QUALCOMM, Inc. | 1,828,475 | 225,560,676 |
Skyworks Solutions, Inc. | 271,250 | 38,324,912 |
Teradyne, Inc. | 268,886 | 23,621,635 |
Texas Instruments, Inc. | 1,484,562 | 214,652,820 |
Xilinx, Inc. | 395,653 | 46,960,055 |
2,203,529,722 | ||
Software & Services 14.3% | ||
Accenture plc, Class A | 1,031,319 | 223,703,404 |
Adobe, Inc. * | 777,511 | 347,625,168 |
Akamai Technologies, Inc. * | 263,465 | 25,060,791 |
ANSYS, Inc. * | 139,094 | 42,336,041 |
Autodesk, Inc. * | 355,504 | 83,735,412 |
Automatic Data Processing, Inc. | 697,188 | 110,127,816 |
Broadridge Financial Solutions, Inc. | 186,049 | 25,600,342 |
Cadence Design Systems, Inc. * | 452,099 | 49,446,068 |
Citrix Systems, Inc. | 200,200 | 22,676,654 |
Cognizant Technology Solutions Corp., Class A | 880,857 | 62,910,807 |
DXC Technology Co. | 406,457 | 7,486,938 |
Fidelity National Information Services, Inc. | 1,003,820 | 125,065,934 |
Fiserv, Inc. * | 901,193 | 86,036,896 |
FleetCor Technologies, Inc. * | 136,261 | 30,101,417 |
Fortinet, Inc. * | 217,833 | 24,042,228 |
Gartner, Inc. * | 144,329 | 17,333,913 |
Global Payments, Inc. | 485,078 | 76,516,204 |
International Business Machines Corp. | 1,443,284 | 161,157,091 |
Intuit, Inc. | 424,017 | 133,429,670 |
Jack Henry & Associates, Inc. | 124,547 | 18,464,093 |
Leidos Holdings, Inc. | 215,780 | 17,909,740 |
Mastercard, Inc., Class A | 1,431,974 | 413,324,975 |
Microsoft Corp. | 12,266,451 | 2,483,588,334 |
NortonLifeLock, Inc. | 957,871 | 19,703,406 |
Oracle Corp. | 3,133,914 | 175,843,915 |
Paychex, Inc. | 519,139 | 42,699,183 |
Paycom Software, Inc. * | 79,369 | 28,897,459 |
PayPal Holdings, Inc. * | 1,901,872 | 353,995,435 |
salesforce.com, Inc. * | 1,474,980 | 342,593,605 |
ServiceNow, Inc. * | 310,879 | 154,684,064 |
Synopsys, Inc. * | 245,582 | 52,520,167 |
The Western Union Co. | 662,847 | 12,885,746 |
Tyler Technologies, Inc. * | 65,189 | 25,057,348 |
Security | Number of Shares | Value ($) |
VeriSign, Inc. * | 163,946 | 31,264,502 |
Visa, Inc., Class A | 2,733,066 | 496,625,423 |
6,324,450,189 | ||
Technology Hardware & Equipment 8.0% | ||
Amphenol Corp., Class A | 483,480 | 54,555,883 |
Apple Inc. | 26,057,919 | 2,836,665,062 |
Arista Networks, Inc. * | 88,998 | 18,591,682 |
CDW Corp. | 230,786 | 28,294,364 |
Cisco Systems, Inc. | 6,861,350 | 246,322,465 |
Corning, Inc. | 1,233,958 | 39,449,637 |
F5 Networks, Inc. * | 99,892 | 13,279,643 |
FLIR Systems, Inc. | 212,754 | 7,380,436 |
Hewlett Packard Enterprise Co. | 2,075,018 | 17,928,156 |
HP, Inc. | 2,226,111 | 39,980,954 |
IPG Photonics Corp. * | 57,655 | 10,721,524 |
Juniper Networks, Inc. | 541,089 | 10,670,275 |
Keysight Technologies, Inc. * | 303,797 | 31,859,191 |
Motorola Solutions, Inc. | 274,651 | 43,411,336 |
NetApp, Inc. | 360,979 | 15,843,368 |
Seagate Technology plc | 364,007 | 17,406,815 |
TE Connectivity Ltd. | 534,330 | 51,765,890 |
Vontier Corp. * | 218,343 | 6,275,178 |
Western Digital Corp. | 490,200 | 18,495,246 |
Xerox Holdings Corp. | 294,192 | 5,113,057 |
Zebra Technologies Corp., Class A * | 85,995 | 24,391,622 |
3,538,401,784 | ||
Telecommunication Services 1.8% | ||
AT&T, Inc. | 11,550,195 | 312,086,269 |
CenturyLink, Inc. | 1,595,127 | 13,749,995 |
T-Mobile US, Inc. * | 942,966 | 103,320,784 |
Verizon Communications, Inc. | 6,707,808 | 382,277,978 |
811,435,026 | ||
Transportation 2.0% | ||
Alaska Air Group, Inc. | 201,431 | 7,632,221 |
American Airlines Group, Inc. (b) | 831,215 | 9,376,105 |
C.H. Robinson Worldwide, Inc. | 217,904 | 19,269,251 |
CSX Corp. | 1,240,346 | 97,912,913 |
Delta Air Lines, Inc. | 1,033,126 | 31,654,981 |
Expeditors International of Washington, Inc. | 271,768 | 24,016,138 |
FedEx Corp. | 390,148 | 101,231,702 |
JB Hunt Transport Services, Inc. | 135,173 | 16,455,961 |
Kansas City Southern | 152,866 | 26,925,817 |
Norfolk Southern Corp. | 413,604 | 86,492,868 |
Old Dominion Freight Line, Inc. | 155,859 | 29,670,878 |
Southwest Airlines Co. | 954,789 | 37,742,809 |
Union Pacific Corp. | 1,100,432 | 194,985,546 |
United Airlines Holdings, Inc. * | 471,374 | 15,960,724 |
United Parcel Service, Inc., Class B | 1,146,058 | 180,057,172 |
879,385,086 | ||
Utilities 3.2% | ||
Alliant Energy Corp. | 403,663 | 22,314,491 |
Ameren Corp. | 400,965 | 32,526,281 |
American Electric Power Co., Inc. | 804,957 | 72,389,783 |
American Water Works Co., Inc. | 294,426 | 44,314,057 |
Atmos Energy Corp. | 200,298 | 18,361,318 |
CenterPoint Energy, Inc. | 880,420 | 18,603,275 |
CMS Energy Corp. | 464,576 | 29,421,598 |
Consolidated Edison, Inc. | 543,480 | 42,657,745 |
Dominion Energy, Inc. | 1,360,852 | 109,330,850 |
Security | Number of Shares | Value ($) |
DTE Energy Co. | 312,992 | 38,629,473 |
Duke Energy Corp. | 1,190,813 | 109,685,785 |
Edison International | 614,179 | 34,418,591 |
Entergy Corp. | 325,171 | 32,913,809 |
Evergy, Inc. | 367,505 | 20,286,276 |
Eversource Energy | 554,675 | 48,406,487 |
Exelon Corp. | 1,581,294 | 63,077,818 |
FirstEnergy Corp. | 881,185 | 26,188,818 |
NextEra Energy, Inc. | 3,174,624 | 232,414,223 |
NiSource, Inc. | 616,533 | 14,161,763 |
NRG Energy, Inc. | 392,554 | 12,412,557 |
Pinnacle West Capital Corp. | 181,630 | 14,815,559 |
PPL Corp. | 1,248,343 | 34,329,432 |
Public Service Enterprise Group, Inc. | 818,765 | 47,611,185 |
Sempra Energy | 468,987 | 58,792,210 |
The AES Corp. | 1,072,908 | 20,921,706 |
The Southern Co. | 1,711,978 | 98,353,136 |
WEC Energy Group, Inc. | 511,203 | 51,401,462 |
Xcel Energy, Inc. | 851,303 | 59,616,749 |
1,408,356,437 | ||
Total Common Stock | ||
(Cost $20,594,421,840) | 43,962,680,898 | |
Other Investment Company 0.1% of net assets | ||
Securities Lending Collateral 0.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 26,288,917 | 26,288,917 |
Total Other Investment Company | ||
(Cost $26,288,917) | 26,288,917 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 0.2% of net assets | ||
Time Deposits 0.2% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.01%, 11/02/20 (d) | 53,742,658 | 53,742,658 |
Royal Bank of Canada | ||
0.01%, 11/02/20 (d) | 44,479,641 | 44,479,641 |
Total Short-Term Investments | ||
(Cost $98,222,299) | 98,222,299 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
S&P 500 Index, e-mini, expires 12/18/20 | 1,185 | 193,433,475 | (3,964,109) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $25,808,897. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
Security | Number of Shares | Value ($) |
Common Stock 99.6% of net assets | ||
Automobiles & Components 1.4% | ||
Aptiv plc | 85,571 | 8,256,746 |
Autoliv, Inc. | 24,786 | 1,878,779 |
BorgWarner, Inc. | 77,568 | 2,713,329 |
Ford Motor Co. | 1,234,347 | 9,541,502 |
General Motors Co. | 398,334 | 13,754,473 |
Gentex Corp. | 77,412 | 2,141,990 |
Harley-Davidson, Inc. | 47,918 | 1,575,544 |
Lear Corp. | 17,147 | 2,071,529 |
Tesla, Inc. * | 235,981 | 91,570,067 |
Thor Industries, Inc. | 17,294 | 1,462,726 |
134,966,685 | ||
Banks 3.4% | ||
Bank of America Corp. | 2,413,704 | 57,204,785 |
Bank of Hawaii Corp. | 12,588 | 763,336 |
Bank OZK | 39,106 | 969,047 |
BOK Financial Corp. | 9,347 | 549,043 |
CIT Group, Inc. | 30,989 | 912,626 |
Citigroup, Inc. | 659,419 | 27,313,135 |
Citizens Financial Group, Inc. | 134,624 | 3,668,504 |
Comerica, Inc. | 43,835 | 1,994,931 |
Commerce Bancshares, Inc. | 31,593 | 1,966,664 |
Community Bank System, Inc. | 17,025 | 987,280 |
Cullen/Frost Bankers, Inc. | 17,758 | 1,247,855 |
East West Bancorp, Inc. | 44,383 | 1,619,092 |
Essent Group Ltd. | 35,671 | 1,421,489 |
F.N.B. Corp. | 104,231 | 787,986 |
Fifth Third Bancorp | 225,530 | 5,236,807 |
First Citizens BancShares, Inc., Class A | 2,309 | 1,068,374 |
First Financial Bankshares, Inc. | 45,931 | 1,369,203 |
First Hawaiian, Inc. | 40,838 | 704,864 |
First Horizon National Corp. | 176,241 | 1,834,669 |
First Republic Bank | 54,593 | 6,886,361 |
Glacier Bancorp, Inc. | 30,409 | 1,088,642 |
Hancock Whitney Corp. | 26,622 | 608,845 |
Huntington Bancshares, Inc. | 324,360 | 3,386,318 |
JPMorgan Chase & Co. | 964,793 | 94,588,306 |
KeyCorp | 308,295 | 4,001,669 |
M&T Bank Corp. | 40,521 | 4,197,165 |
MGIC Investment Corp. | 109,422 | 1,100,785 |
New York Community Bancorp, Inc. | 146,117 | 1,214,232 |
PacWest Bancorp | 35,734 | 687,522 |
People's United Financial, Inc. | 137,542 | 1,467,573 |
Pinnacle Financial Partners, Inc. | 23,394 | 1,071,211 |
Popular, Inc. | 26,787 | 1,130,411 |
Prosperity Bancshares, Inc. | 29,055 | 1,601,221 |
Radian Group, Inc. | 59,320 | 1,064,794 |
Regions Financial Corp. | 303,768 | 4,040,115 |
Signature Bank | 16,904 | 1,364,829 |
Sterling Bancorp | 62,731 | 839,341 |
SVB Financial Group * | 16,411 | 4,770,678 |
Synovus Financial Corp. | 45,764 | 1,189,864 |
TCF Financial Corp. | 48,422 | 1,317,563 |
TFS Financial Corp. | 16,400 | 257,644 |
The PNC Financial Services Group, Inc. | 134,263 | 15,021,345 |
Security | Number of Shares | Value ($) |
Truist Financial Corp. | 426,467 | 17,962,790 |
U.S. Bancorp | 433,780 | 16,895,731 |
Umpqua Holdings Corp. | 68,094 | 855,261 |
United Bankshares, Inc. | 41,048 | 1,076,689 |
Valley National Bancorp | 128,972 | 985,346 |
Webster Financial Corp. | 28,095 | 904,940 |
Wells Fargo & Co. | 1,305,116 | 27,994,738 |
Western Alliance Bancorp | 32,116 | 1,323,179 |
Wintrust Financial Corp. | 17,735 | 873,094 |
Zions Bancorp NA | 51,405 | 1,658,839 |
335,046,731 | ||
Capital Goods 5.7% | ||
3M Co. | 182,466 | 29,187,261 |
A.O. Smith Corp. | 42,655 | 2,204,837 |
Acuity Brands, Inc. | 12,444 | 1,109,258 |
AECOM * | 50,597 | 2,268,769 |
Aerojet Rocketdyne Holdings, Inc. * | 22,322 | 723,679 |
AGCO Corp. | 19,180 | 1,477,435 |
Air Lease Corp. | 34,403 | 937,138 |
Allegion plc | 29,314 | 2,887,429 |
Allison Transmission Holdings, Inc. | 35,289 | 1,275,697 |
AMETEK, Inc. | 72,902 | 7,158,976 |
Armstrong World Industries, Inc. | 15,294 | 916,111 |
Axon Enterprise, Inc. * | 19,874 | 1,965,539 |
BWX Technologies, Inc. | 29,821 | 1,640,453 |
Carlisle Cos., Inc. | 17,348 | 2,148,897 |
Carrier Global Corp. | 258,161 | 8,619,996 |
Caterpillar, Inc. | 171,507 | 26,935,174 |
Colfax Corp. * | 31,998 | 870,026 |
Crane Co. | 15,943 | 809,107 |
Cummins, Inc. | 46,861 | 10,304,265 |
Curtiss-Wright Corp. | 12,875 | 1,086,135 |
Deere & Co. | 99,214 | 22,413,435 |
Donaldson Co., Inc. | 39,418 | 1,872,355 |
Dover Corp. | 45,697 | 5,059,115 |
Eaton Corp. plc | 126,506 | 13,130,058 |
EMCOR Group, Inc. | 17,522 | 1,194,825 |
Emerson Electric Co. | 188,921 | 12,240,192 |
Fastenal Co. | 182,041 | 7,869,632 |
Flowserve Corp. | 41,009 | 1,194,182 |
Fortive Corp. | 106,972 | 6,589,475 |
Fortune Brands Home & Security, Inc. | 43,913 | 3,551,244 |
Gates Industrial Corp. plc * | 14,417 | 160,029 |
Generac Holdings, Inc. * | 19,942 | 4,190,811 |
General Dynamics Corp. | 73,730 | 9,682,961 |
General Electric Co. | 2,770,842 | 20,559,648 |
Graco, Inc. | 52,369 | 3,241,641 |
HD Supply Holdings, Inc. * | 51,151 | 2,038,879 |
HEICO Corp. | 13,213 | 1,388,026 |
HEICO Corp., Class A | 23,421 | 2,189,864 |
Hexcel Corp. | 26,521 | 887,923 |
Honeywell International, Inc. | 222,302 | 36,668,715 |
Howmet Aerospace, Inc. | 123,246 | 2,125,994 |
Hubbell, Inc. | 17,072 | 2,484,147 |
Huntington Ingalls Industries, Inc. | 12,791 | 1,886,417 |
IDEX Corp. | 23,862 | 4,065,846 |
Illinois Tool Works, Inc. | 91,028 | 17,830,565 |
Ingersoll Rand, Inc. * | 117,806 | 4,116,142 |
Security | Number of Shares | Value ($) |
ITT, Inc. | 27,666 | 1,674,070 |
Jacobs Engineering Group, Inc. | 41,463 | 3,938,985 |
Johnson Controls International plc | 235,088 | 9,923,064 |
L3Harris Technologies, Inc. | 68,590 | 11,050,535 |
Lennox International, Inc. | 10,924 | 2,967,614 |
Lincoln Electric Holdings, Inc. | 19,036 | 1,938,246 |
Lockheed Martin Corp. | 77,907 | 27,277,578 |
Masco Corp. | 83,083 | 4,453,249 |
MasTec, Inc. * | 17,744 | 880,812 |
Mercury Systems, Inc. * | 17,366 | 1,196,170 |
Nordson Corp. | 17,133 | 3,314,036 |
Northrop Grumman Corp. | 49,027 | 14,209,005 |
nVent Electric plc | 54,127 | 976,992 |
Oshkosh Corp. | 21,835 | 1,470,806 |
Otis Worldwide Corp. | 129,184 | 7,916,396 |
Owens Corning | 34,014 | 2,226,897 |
PACCAR, Inc. | 109,794 | 9,374,212 |
Parker-Hannifin Corp. | 40,801 | 8,501,296 |
Parsons Corp. * | 7,374 | 232,428 |
Pentair plc | 52,757 | 2,625,188 |
Quanta Services, Inc. | 43,572 | 2,720,200 |
Raytheon Technologies Corp. | 483,310 | 26,253,399 |
RBC Bearings, Inc. * | 7,827 | 931,804 |
Rexnord Corp. | 38,335 | 1,229,787 |
Rockwell Automation, Inc. | 36,806 | 8,727,439 |
Roper Technologies, Inc. | 33,106 | 12,293,582 |
Sensata Technologies Holding plc * | 49,434 | 2,160,760 |
SiteOne Landscape Supply, Inc. * | 14,025 | 1,675,847 |
Snap-on, Inc. | 17,329 | 2,729,837 |
Spirit AeroSystems Holdings, Inc., Class A | 34,044 | 619,260 |
Stanley Black & Decker, Inc. | 50,382 | 8,373,488 |
Teledyne Technologies, Inc. * | 11,700 | 3,617,055 |
Textron, Inc. | 72,381 | 2,591,240 |
The Boeing Co. | 167,876 | 24,239,616 |
The Middleby Corp. * | 17,584 | 1,750,311 |
The Timken Co. | 21,066 | 1,257,640 |
The Toro Co. | 34,051 | 2,795,587 |
Trane Technologies plc | 75,587 | 10,034,174 |
TransDigm Group, Inc. | 17,200 | 8,211,452 |
Trex Co., Inc. * | 36,512 | 2,539,044 |
United Rentals, Inc. * | 22,696 | 4,046,470 |
Univar Solutions, Inc. * | 53,810 | 892,708 |
W.W. Grainger, Inc. | 14,287 | 5,000,736 |
Watsco, Inc. | 10,407 | 2,332,625 |
Westinghouse Air Brake Technologies Corp. | 56,795 | 3,367,943 |
Woodward, Inc. | 18,262 | 1,452,742 |
Xylem, Inc. | 56,797 | 4,949,291 |
556,099,919 | ||
Commercial & Professional Services 1.0% | ||
ADT, Inc. | 48,281 | 318,172 |
ASGN, Inc. * | 16,472 | 1,098,353 |
Cintas Corp. | 27,591 | 8,678,749 |
Clean Harbors, Inc. * | 15,813 | 837,615 |
Copart, Inc. * | 65,573 | 7,236,636 |
CoStar Group, Inc. * | 12,432 | 10,239,120 |
Equifax, Inc. | 38,551 | 5,266,067 |
FTI Consulting, Inc. * | 11,633 | 1,145,385 |
IAA, Inc. * | 42,387 | 2,398,680 |
IHS Markit Ltd. | 118,367 | 9,572,339 |
ManpowerGroup, Inc. | 18,677 | 1,267,608 |
MSA Safety, Inc. | 11,278 | 1,487,794 |
Nielsen Holdings plc | 112,402 | 1,518,551 |
Republic Services, Inc. | 66,719 | 5,882,614 |
Robert Half International, Inc. | 36,215 | 1,835,738 |
Rollins, Inc. | 46,818 | 2,708,421 |
Security | Number of Shares | Value ($) |
Stericycle, Inc. * | 28,501 | 1,775,612 |
Tetra Tech, Inc. | 16,816 | 1,696,903 |
The Brink's Co. | 16,117 | 690,291 |
TransUnion | 60,218 | 4,796,966 |
TriNet Group, Inc. * | 12,768 | 879,971 |
Verisk Analytics, Inc. | 51,542 | 9,172,930 |
Waste Management, Inc. | 122,888 | 13,260,844 |
93,765,359 | ||
Consumer Durables & Apparel 1.3% | ||
Brunswick Corp. | 24,797 | 1,579,817 |
Capri Holdings Ltd. * | 47,193 | 1,001,436 |
Carter's, Inc. | 13,909 | 1,132,888 |
Columbia Sportswear Co. | 9,701 | 723,598 |
D.R. Horton, Inc. | 105,100 | 7,021,731 |
Deckers Outdoor Corp. * | 8,825 | 2,235,990 |
Garmin Ltd. | 47,358 | 4,926,179 |
Hanesbrands, Inc. | 109,656 | 1,762,172 |
Hasbro, Inc. | 40,098 | 3,316,907 |
Helen of Troy Ltd. * | 7,946 | 1,506,562 |
Leggett & Platt, Inc. | 41,615 | 1,736,594 |
Lennar Corp., Class A | 87,211 | 6,124,829 |
Lululemon Athletica, Inc. * | 37,446 | 11,956,133 |
Mattel, Inc. * | 108,814 | 1,498,369 |
Mohawk Industries, Inc. * | 18,806 | 1,940,591 |
Newell Brands, Inc. | 119,705 | 2,113,990 |
NIKE, Inc., Class B | 394,251 | 47,341,660 |
NVR, Inc. * | 1,104 | 4,364,211 |
Polaris, Inc. | 18,040 | 1,639,114 |
PulteGroup, Inc. | 85,236 | 3,474,219 |
PVH Corp. | 22,544 | 1,314,090 |
Ralph Lauren Corp. | 15,438 | 1,032,030 |
Skechers U.S.A., Inc., Class A * | 42,630 | 1,351,797 |
Tapestry, Inc. | 87,656 | 1,948,593 |
Tempur Sealy International, Inc. * | 15,250 | 1,357,250 |
Toll Brothers, Inc. | 36,393 | 1,538,696 |
Under Armour, Inc., Class A * | 59,687 | 826,068 |
Under Armour, Inc., Class C * | 61,564 | 752,928 |
VF Corp. | 101,416 | 6,815,155 |
Whirlpool Corp. | 19,666 | 3,637,423 |
127,971,020 | ||
Consumer Services 1.8% | ||
Aramark | 80,046 | 2,220,476 |
Bright Horizons Family Solutions, Inc. * | 19,186 | 3,032,347 |
Caesars Entertainment, Inc. * | 63,297 | 2,836,972 |
Carnival Corp. | 164,419 | 2,254,184 |
Chegg, Inc. * | 39,463 | 2,898,163 |
Chipotle Mexican Grill, Inc. * | 8,835 | 10,615,076 |
Choice Hotels International, Inc. | 9,153 | 799,515 |
Churchill Downs, Inc. | 11,066 | 1,650,494 |
Cracker Barrel Old Country Store, Inc. | 7,251 | 825,309 |
Darden Restaurants, Inc. | 41,296 | 3,795,928 |
Domino's Pizza, Inc. | 12,403 | 4,692,303 |
Dunkin' Brands Group, Inc. | 25,857 | 2,578,201 |
frontdoor, Inc. * | 27,165 | 1,076,277 |
Grand Canyon Education, Inc. * | 14,861 | 1,164,657 |
H&R Block, Inc. | 61,015 | 1,053,119 |
Hilton Worldwide Holdings, Inc. | 88,004 | 7,727,631 |
Las Vegas Sands Corp. | 104,232 | 5,009,390 |
Marriott International, Inc., Class A | 83,866 | 7,789,474 |
Marriott Vacations Worldwide Corp. | 13,042 | 1,259,857 |
McDonald's Corp. | 235,548 | 50,171,724 |
MGM Resorts International | 129,985 | 2,673,791 |
Norwegian Cruise Line Holdings Ltd. * | 88,431 | 1,470,608 |
Planet Fitness, Inc., Class A * | 25,639 | 1,519,623 |
Security | Number of Shares | Value ($) |
Royal Caribbean Cruises Ltd. | 56,554 | 3,190,777 |
Service Corp. International | 55,986 | 2,592,712 |
Starbucks Corp. | 370,007 | 32,175,809 |
Terminix Global Holdings, Inc. * | 41,450 | 1,951,880 |
Texas Roadhouse, Inc. | 20,403 | 1,428,822 |
The Wendy's Co. | 57,183 | 1,249,449 |
Vail Resorts, Inc. | 12,620 | 2,928,345 |
Wyndham Destinations, Inc. | 27,429 | 895,008 |
Wyndham Hotels & Resorts, Inc. | 29,566 | 1,375,115 |
Wynn Resorts Ltd. | 30,688 | 2,222,732 |
Yum! Brands, Inc. | 95,528 | 8,915,628 |
178,041,396 | ||
Diversified Financials 4.5% | ||
Affiliated Managers Group, Inc. | 14,555 | 1,097,010 |
AGNC Investment Corp. | 177,295 | 2,476,811 |
Ally Financial, Inc. | 118,697 | 3,166,836 |
American Express Co. | 206,410 | 18,832,848 |
Ameriprise Financial, Inc. | 38,177 | 6,140,007 |
Annaly Capital Management, Inc. | 445,549 | 3,158,942 |
Berkshire Hathaway, Inc., Class B * | 627,590 | 126,710,421 |
BlackRock, Inc. | 44,892 | 26,899,735 |
Blackstone Mortgage Trust, Inc., Class A | 47,122 | 1,022,547 |
Capital One Financial Corp. | 144,840 | 10,584,907 |
Cboe Global Markets, Inc. | 34,535 | 2,807,350 |
Chimera Investment Corp. | 74,130 | 618,986 |
CME Group, Inc. | 113,479 | 17,103,555 |
Credit Acceptance Corp. * | 3,868 | 1,153,128 |
Discover Financial Services | 97,235 | 6,321,247 |
Eaton Vance Corp. | 35,983 | 2,151,424 |
Equitable Holdings, Inc. | 128,460 | 2,760,605 |
FactSet Research Systems, Inc. | 12,066 | 3,698,229 |
Franklin Resources, Inc. | 84,975 | 1,593,281 |
Interactive Brokers Group, Inc., Class A | 25,103 | 1,194,150 |
Intercontinental Exchange, Inc. | 177,572 | 16,762,797 |
Invesco Ltd. | 119,698 | 1,569,241 |
Janus Henderson Group plc | 47,705 | 1,159,232 |
Jefferies Financial Group, Inc. | 68,636 | 1,339,088 |
Lazard Ltd., Class A | 35,274 | 1,187,676 |
LendingTree, Inc. * | 2,535 | 820,301 |
LPL Financial Holdings, Inc. | 24,863 | 1,987,300 |
MarketAxess Holdings, Inc. | 12,052 | 6,494,220 |
Moody's Corp. | 51,035 | 13,417,102 |
Morgan Stanley | 451,951 | 21,761,441 |
Morningstar, Inc. | 6,820 | 1,298,392 |
MSCI, Inc. | 26,398 | 9,235,076 |
Nasdaq, Inc. | 36,613 | 4,429,807 |
New Residential Investment Corp. | 129,500 | 971,250 |
Northern Trust Corp. | 66,062 | 5,170,673 |
OneMain Holdings, Inc. | 23,072 | 804,982 |
Raymond James Financial, Inc. | 38,668 | 2,955,782 |
S&P Global, Inc. | 76,318 | 24,630,108 |
Santander Consumer USA Holdings, Inc. | 23,104 | 469,935 |
SEI Investments Co. | 38,679 | 1,901,073 |
Starwood Property Trust, Inc. | 88,358 | 1,234,361 |
State Street Corp. | 111,844 | 6,587,612 |
Stifel Financial Corp. | 21,314 | 1,246,016 |
Synchrony Financial | 172,357 | 4,312,372 |
T. Rowe Price Group, Inc. | 72,035 | 9,123,953 |
The Bank of New York Mellon Corp. | 257,911 | 8,861,822 |
The Blackstone Group, Inc., Class A | 212,937 | 10,736,284 |
The Charles Schwab Corp. (a) | 466,411 | 19,174,156 |
The Goldman Sachs Group, Inc. | 108,921 | 20,590,426 |
Two Harbors Investment Corp. | 90,007 | 455,435 |
Voya Financial, Inc. | 39,685 | 1,902,102 |
442,082,034 | ||
Security | Number of Shares | Value ($) |
Energy 1.9% | ||
Apache Corp. | 119,134 | 988,812 |
Baker Hughes Co. | 208,160 | 3,074,523 |
Cabot Oil & Gas Corp. | 126,555 | 2,251,413 |
Cheniere Energy, Inc. * | 73,080 | 3,498,340 |
Chevron Corp. | 609,427 | 42,355,177 |
Cimarex Energy Co. | 32,384 | 821,582 |
Concho Resources, Inc. | 62,400 | 2,590,224 |
ConocoPhillips | 337,979 | 9,672,959 |
Continental Resources, Inc. | 19,852 | 238,820 |
CVR Energy, Inc. | 8,884 | 97,813 |
Devon Energy Corp. | 122,166 | 1,090,942 |
Diamondback Energy, Inc. | 49,602 | 1,287,668 |
EOG Resources, Inc. | 184,852 | 6,329,332 |
Exxon Mobil Corp. | 1,338,557 | 43,663,729 |
Halliburton Co. | 277,521 | 3,346,903 |
Helmerich & Payne, Inc. | 35,325 | 525,283 |
Hess Corp. | 86,821 | 3,231,478 |
HollyFrontier Corp. | 47,416 | 877,670 |
Kinder Morgan, Inc. | 616,882 | 7,340,896 |
Marathon Oil Corp. | 253,489 | 1,003,816 |
Marathon Petroleum Corp. | 206,529 | 6,092,606 |
Murphy Oil Corp. | 45,849 | 353,954 |
National Oilwell Varco, Inc. | 123,569 | 1,037,980 |
Occidental Petroleum Corp. | 265,854 | 2,427,247 |
ONEOK, Inc. | 140,350 | 4,070,150 |
Parsley Energy, Inc., Class A | 96,462 | 965,585 |
PBF Energy, Inc., Class A | 33,772 | 157,715 |
Phillips 66 | 138,340 | 6,454,944 |
Pioneer Natural Resources Co. | 52,167 | 4,150,407 |
Schlumberger N.V. | 440,778 | 6,585,223 |
Targa Resources Corp. | 73,044 | 1,172,356 |
TechnipFMC plc | 130,770 | 723,158 |
The Williams Cos., Inc. | 385,163 | 7,391,278 |
Transocean Ltd. *(b) | 189,158 | 126,830 |
Valero Energy Corp. | 129,428 | 4,997,215 |
WPX Energy, Inc. * | 124,942 | 575,983 |
181,570,011 | ||
Food & Staples Retailing 1.4% | ||
Casey's General Stores, Inc. | 11,631 | 1,960,638 |
Costco Wholesale Corp. | 139,862 | 50,017,448 |
Performance Food Group Co. * | 42,248 | 1,419,955 |
Sysco Corp. | 160,571 | 8,881,182 |
The Kroger Co. | 245,409 | 7,904,624 |
U.S. Foods Holding Corp. * | 69,425 | 1,450,983 |
Walgreens Boots Alliance, Inc. | 228,306 | 7,771,536 |
Walmart, Inc. | 439,708 | 61,009,485 |
140,415,851 | ||
Food, Beverage & Tobacco 3.2% | ||
Altria Group, Inc. | 588,080 | 21,217,926 |
Archer-Daniels-Midland Co. | 176,372 | 8,155,441 |
Beyond Meat, Inc. * | 15,659 | 2,230,311 |
Brown-Forman Corp., Class B | 57,777 | 4,027,635 |
Bunge Ltd. | 43,973 | 2,494,588 |
Campbell Soup Co. | 64,288 | 3,000,321 |
Conagra Brands, Inc. | 154,875 | 5,434,564 |
Constellation Brands, Inc., Class A | 53,329 | 8,811,551 |
Darling Ingredients, Inc. * | 51,439 | 2,211,877 |
Flowers Foods, Inc. | 61,687 | 1,454,579 |
General Mills, Inc. | 193,660 | 11,449,179 |
Hormel Foods Corp. | 88,716 | 4,319,582 |
Ingredion, Inc. | 21,087 | 1,494,857 |
Kellogg Co. | 80,190 | 5,043,149 |
Security | Number of Shares | Value ($) |
Keurig Dr Pepper, Inc. | 147,383 | 3,964,603 |
Lamb Weston Holdings, Inc. | 46,044 | 2,921,492 |
Lancaster Colony Corp. | 6,287 | 1,044,522 |
McCormick & Co., Inc. - Non Voting Shares | 39,339 | 7,101,083 |
Molson Coors Beverage Co., Class B | 58,943 | 2,078,330 |
Mondelez International, Inc., Class A | 452,268 | 24,024,476 |
Monster Beverage Corp. * | 117,173 | 8,971,937 |
PepsiCo, Inc. | 438,492 | 58,446,599 |
Philip Morris International, Inc. | 493,085 | 35,018,897 |
Pilgrim's Pride Corp. * | 16,389 | 274,352 |
Post Holdings, Inc. * | 20,034 | 1,720,921 |
Sanderson Farms, Inc. | 6,056 | 774,986 |
Seaboard Corp. | 74 | 254,930 |
The Coca-Cola Co. | 1,223,525 | 58,802,611 |
The Hershey Co. | 46,673 | 6,415,671 |
The JM Smucker Co. | 36,222 | 4,064,108 |
The Kraft Heinz Co. | 205,644 | 6,290,650 |
Tyson Foods, Inc., Class A | 93,398 | 5,345,168 |
308,860,896 | ||
Health Care Equipment & Services 6.5% | ||
Abbott Laboratories | 560,663 | 58,931,288 |
ABIOMED, Inc. * | 14,261 | 3,592,061 |
Align Technology, Inc. * | 22,643 | 9,647,729 |
Amedisys, Inc. * | 10,175 | 2,635,325 |
AmerisourceBergen Corp. | 46,669 | 4,483,491 |
Anthem, Inc. | 79,637 | 21,724,974 |
Baxter International, Inc. | 160,022 | 12,412,907 |
Becton, Dickinson & Co. | 91,770 | 21,210,800 |
Boston Scientific Corp. * | 452,658 | 15,512,590 |
Cardinal Health, Inc. | 92,629 | 4,241,482 |
Centene Corp. * | 183,122 | 10,822,510 |
Cerner Corp. | 96,925 | 6,793,473 |
Chemed Corp. | 5,045 | 2,413,124 |
Cigna Corp. | 116,241 | 19,408,760 |
CVS Health Corp. | 414,407 | 23,244,089 |
Danaher Corp. | 199,990 | 45,905,705 |
DaVita, Inc. * | 23,878 | 2,059,477 |
DENTSPLY SIRONA, Inc. | 69,531 | 3,281,168 |
DexCom, Inc. * | 30,259 | 9,670,171 |
Edwards Lifesciences Corp. * | 196,659 | 14,098,484 |
Encompass Health Corp. | 31,462 | 1,928,935 |
Globus Medical, Inc., Class A * | 23,551 | 1,227,478 |
Guardant Health, Inc. * | 26,815 | 2,860,088 |
Haemonetics Corp. * | 15,892 | 1,606,522 |
HCA Healthcare, Inc. | 83,301 | 10,324,326 |
HealthEquity, Inc. * | 24,638 | 1,268,611 |
Henry Schein, Inc. * | 45,429 | 2,888,376 |
Hill-Rom Holdings, Inc. | 21,219 | 1,932,414 |
Hologic, Inc. * | 81,908 | 5,636,909 |
Humana, Inc. | 41,862 | 16,714,659 |
ICU Medical, Inc. * | 6,082 | 1,081,319 |
IDEXX Laboratories, Inc. * | 26,875 | 11,417,037 |
Insulet Corp. * | 20,721 | 4,605,242 |
Integra LifeSciences Holdings Corp. * | 21,913 | 966,363 |
Intuitive Surgical, Inc. * | 37,056 | 24,719,316 |
Laboratory Corp. of America Holdings * | 30,821 | 6,157,111 |
LHC Group, Inc. * | 10,032 | 2,172,430 |
Masimo Corp. * | 16,053 | 3,592,982 |
McKesson Corp. | 51,419 | 7,583,788 |
Medtronic plc | 425,702 | 42,812,850 |
Molina Healthcare, Inc. * | 18,651 | 3,477,852 |
NuVasive, Inc. * | 16,265 | 722,654 |
Penumbra, Inc. * | 10,669 | 2,784,929 |
Quest Diagnostics, Inc. | 42,348 | 5,172,385 |
ResMed, Inc. | 45,978 | 8,825,017 |
Security | Number of Shares | Value ($) |
STERIS plc | 27,010 | 4,785,902 |
Stryker Corp. | 103,460 | 20,899,955 |
Tandem Diabetes Care, Inc. * | 19,339 | 2,107,951 |
Teladoc Health, Inc. * | 37,738 | 7,414,007 |
Teleflex, Inc. | 14,685 | 4,673,208 |
Tenet Healthcare Corp. * | 34,031 | 835,121 |
The Cooper Cos., Inc. | 15,563 | 4,965,375 |
UnitedHealth Group, Inc. | 300,904 | 91,817,847 |
Universal Health Services, Inc., Class B | 24,674 | 2,703,037 |
Varian Medical Systems, Inc. * | 28,707 | 4,960,570 |
Veeva Systems, Inc., Class A * | 42,665 | 11,521,683 |
West Pharmaceutical Services, Inc. | 23,438 | 6,376,777 |
Wright Medical Group N.V. * | 40,456 | 1,237,549 |
Zimmer Biomet Holdings, Inc. | 65,355 | 8,633,395 |
637,501,578 | ||
Household & Personal Products 1.8% | ||
Church & Dwight Co., Inc. | 78,499 | 6,938,527 |
Colgate-Palmolive Co. | 271,414 | 21,411,850 |
Coty, Inc., Class A | 94,864 | 275,106 |
Herbalife Nutrition Ltd. * | 31,103 | 1,403,989 |
Kimberly-Clark Corp. | 107,846 | 14,299,301 |
The Clorox Co. | 39,841 | 8,257,047 |
The Estee Lauder Cos., Inc., Class A | 71,353 | 15,673,400 |
The Procter & Gamble Co. | 788,329 | 108,079,906 |
176,339,126 | ||
Insurance 2.0% | ||
Aflac, Inc. | 210,344 | 7,141,179 |
Alleghany Corp. | 4,544 | 2,485,250 |
American Financial Group, Inc. | 22,384 | 1,677,457 |
American International Group, Inc. | 271,729 | 8,556,746 |
Aon plc, Class A | 73,245 | 13,477,812 |
Arch Capital Group Ltd. * | 127,728 | 3,858,663 |
Arthur J. Gallagher & Co. | 60,355 | 6,259,417 |
Assurant, Inc. | 18,918 | 2,352,832 |
Assured Guaranty Ltd. | 26,571 | 678,358 |
Athene Holding Ltd., Class A * | 40,093 | 1,286,183 |
Axis Capital Holdings Ltd. | 25,451 | 1,086,503 |
Brighthouse Financial, Inc. * | 29,546 | 977,973 |
Brown & Brown, Inc. | 74,313 | 3,233,359 |
Chubb Ltd. | 142,806 | 18,551,927 |
Cincinnati Financial Corp. | 47,486 | 3,359,160 |
CNA Financial Corp. | 8,422 | 250,891 |
Erie Indemnity Co., Class A | 7,915 | 1,843,166 |
Everest Re Group Ltd. | 12,689 | 2,500,748 |
Fidelity National Financial, Inc. | 91,711 | 2,869,637 |
First American Financial Corp. | 35,410 | 1,578,932 |
Globe Life, Inc. | 31,045 | 2,517,439 |
Kemper Corp. | 19,642 | 1,211,126 |
Lincoln National Corp. | 57,676 | 2,024,428 |
Loews Corp. | 75,674 | 2,624,374 |
Markel Corp. * | 4,335 | 4,043,688 |
Marsh & McLennan Cos., Inc. | 160,234 | 16,577,810 |
MetLife, Inc. | 244,742 | 9,263,485 |
Old Republic International Corp. | 89,629 | 1,459,160 |
Primerica, Inc. | 12,550 | 1,383,512 |
Principal Financial Group, Inc. | 81,176 | 3,183,723 |
Prudential Financial, Inc. | 125,327 | 8,023,435 |
Reinsurance Group of America, Inc. | 21,515 | 2,173,445 |
RenaissanceRe Holdings Ltd. | 16,254 | 2,628,597 |
RLI Corp. | 12,510 | 1,084,617 |
Selective Insurance Group, Inc. | 18,480 | 962,069 |
The Allstate Corp. | 99,086 | 8,793,882 |
The Hanover Insurance Group, Inc. | 11,711 | 1,120,274 |
Security | Number of Shares | Value ($) |
The Hartford Financial Services Group, Inc. | 112,867 | 4,347,637 |
The Progressive Corp. | 185,185 | 17,018,501 |
The Travelers Cos., Inc. | 79,916 | 9,646,660 |
Unum Group | 63,861 | 1,127,785 |
W.R. Berkley Corp. | 44,646 | 2,684,118 |
Willis Towers Watson plc | 40,882 | 7,460,147 |
195,386,105 | ||
Materials 2.7% | ||
Air Products & Chemicals, Inc. | 69,919 | 19,314,425 |
Albemarle Corp. | 33,803 | 3,150,778 |
Alcoa Corp. * | 58,176 | 751,634 |
Amcor plc | 497,866 | 5,192,742 |
AptarGroup, Inc. | 20,518 | 2,340,899 |
Arconic Corp. * | 31,581 | 686,571 |
Ashland Global Holdings, Inc. | 17,332 | 1,209,254 |
Avery Dennison Corp. | 26,302 | 3,639,934 |
Axalta Coating Systems Ltd. * | 65,775 | 1,651,610 |
Ball Corp. | 103,517 | 9,213,013 |
Berry Global Group, Inc. * | 41,766 | 1,947,549 |
Celanese Corp. | 37,585 | 4,266,273 |
CF Industries Holdings, Inc. | 67,984 | 1,877,038 |
Corteva, Inc. | 236,909 | 7,813,259 |
Crown Holdings, Inc. * | 42,825 | 3,674,385 |
Dow, Inc. | 234,136 | 10,650,847 |
DuPont de Nemours, Inc. | 232,033 | 13,198,037 |
Eagle Materials, Inc. | 13,047 | 1,112,257 |
Eastman Chemical Co. | 42,637 | 3,446,775 |
Ecolab, Inc. | 78,535 | 14,418,241 |
FMC Corp. | 41,024 | 4,214,806 |
Freeport-McMoRan, Inc. | 460,888 | 7,991,798 |
Graphic Packaging Holding Co. | 86,503 | 1,149,625 |
Huntsman Corp. | 62,484 | 1,517,736 |
International Flavors & Fragrances, Inc. (b) | 33,961 | 3,486,436 |
International Paper Co. | 124,914 | 5,464,987 |
Linde plc | 166,343 | 36,652,017 |
LyondellBasell Industries N.V., Class A | 81,466 | 5,576,348 |
Martin Marietta Materials, Inc. | 19,782 | 5,268,936 |
NewMarket Corp. | 2,325 | 831,629 |
Newmont Corp. | 253,912 | 15,955,830 |
Nucor Corp. | 95,868 | 4,578,656 |
Packaging Corp. of America | 29,912 | 3,424,625 |
PPG Industries, Inc. | 74,515 | 9,666,086 |
Reliance Steel & Aluminum Co. | 20,123 | 2,193,206 |
Royal Gold, Inc. | 20,934 | 2,487,168 |
RPM International, Inc. | 41,336 | 3,499,919 |
Sealed Air Corp. | 49,193 | 1,947,551 |
Sonoco Products Co. | 31,614 | 1,545,608 |
Steel Dynamics, Inc. | 63,501 | 1,999,011 |
The Mosaic Co. | 110,370 | 2,041,845 |
The Scotts Miracle-Gro Co. | 12,927 | 1,939,696 |
The Sherwin-Williams Co. | 25,927 | 17,837,257 |
Valvoline, Inc. | 58,833 | 1,157,245 |
Vulcan Materials Co. | 42,052 | 6,090,812 |
W.R. Grace & Co. | 19,802 | 861,189 |
Westlake Chemical Corp. | 11,139 | 753,219 |
WestRock Co. | 82,057 | 3,081,240 |
262,770,002 | ||
Media & Entertainment 8.9% | ||
Activision Blizzard, Inc. | 244,284 | 18,499,627 |
Alphabet, Inc., Class A * | 95,124 | 153,730,848 |
Alphabet, Inc., Class C * | 92,947 | 150,668,017 |
Altice USA, Inc., Class A * | 104,931 | 2,827,890 |
Cable One, Inc. | 1,720 | 2,978,799 |
Security | Number of Shares | Value ($) |
Charter Communications, Inc., Class A * | 47,359 | 28,596,311 |
Cinemark Holdings, Inc. | 35,543 | 291,097 |
Comcast Corp., Class A | 1,443,215 | 60,961,402 |
Discovery, Inc., Class A * | 49,998 | 1,011,960 |
Discovery, Inc., Class C * | 98,284 | 1,800,563 |
DISH Network Corp., Class A * | 78,313 | 1,996,198 |
Electronic Arts, Inc. * | 91,236 | 10,932,810 |
Facebook, Inc., Class A * | 761,135 | 200,262,230 |
Fox Corp., Class A | 108,529 | 2,878,189 |
Fox Corp., Class B | 49,962 | 1,306,007 |
IAC/InterActiveCorp * | 25,245 | 3,047,576 |
Liberty Broadband Corp., Class C * | 48,548 | 6,879,737 |
Liberty Media Corp. - Liberty Formula One, Class C * | 64,398 | 2,326,700 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 26,933 | 931,074 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 55,266 | 1,912,204 |
Live Nation Entertainment, Inc. * | 45,118 | 2,201,758 |
Madison Square Garden Entertainment Corp. * | 5,575 | 362,375 |
Madison Square Garden Sports Corp. * | 5,575 | 789,643 |
Match Group, Inc. * | 82,083 | 9,585,653 |
Netflix, Inc. * | 139,603 | 66,414,731 |
News Corp., Class A | 122,428 | 1,607,480 |
Nexstar Media Group, Inc., Class A | 14,428 | 1,188,867 |
Omnicom Group, Inc. | 68,220 | 3,219,984 |
Pinterest, Inc., Class A * | 146,836 | 8,655,982 |
Roku, Inc. * | 33,603 | 6,801,247 |
Sirius XM Holdings, Inc. | 385,720 | 2,210,176 |
Snap, Inc., Class A * | 283,164 | 11,153,830 |
Take-Two Interactive Software, Inc. * | 36,258 | 5,617,089 |
TEGNA, Inc. | 67,199 | 808,404 |
The Interpublic Group of Cos., Inc. | 123,711 | 2,237,932 |
The New York Times Co., Class A | 45,865 | 1,819,006 |
The Walt Disney Co. | 571,960 | 69,350,150 |
TripAdvisor, Inc. | 29,692 | 567,414 |
Twitter, Inc. * | 250,011 | 10,340,455 |
ViacomCBS, Inc., Class B | 178,916 | 5,111,630 |
Zillow Group, Inc., Class C * | 45,405 | 4,023,791 |
Zynga, Inc., Class A * | 317,500 | 2,854,325 |
870,761,161 | ||
Pharmaceuticals, Biotechnology & Life Sciences 7.3% | ||
AbbVie, Inc. | 558,288 | 47,510,309 |
ACADIA Pharmaceuticals, Inc. * | 36,819 | 1,710,243 |
Agilent Technologies, Inc. | 97,872 | 9,991,752 |
Alexion Pharmaceuticals, Inc. * | 69,557 | 8,008,793 |
Allakos, Inc. * | 9,871 | 939,028 |
Alnylam Pharmaceuticals, Inc. * | 36,806 | 4,526,034 |
Amgen, Inc. | 185,316 | 40,202,453 |
Arrowhead Pharmaceuticals, Inc. * | 32,794 | 1,879,096 |
Avantor, Inc. * | 140,658 | 3,273,112 |
Bio-Rad Laboratories, Inc., Class A * | 6,756 | 3,961,854 |
Bio-Techne Corp. | 12,141 | 3,064,510 |
Biogen, Inc. * | 50,040 | 12,613,583 |
BioMarin Pharmaceutical, Inc. * | 57,489 | 4,278,906 |
Bluebird Bio, Inc. * | 20,807 | 1,075,930 |
Blueprint Medicines Corp. * | 17,644 | 1,804,628 |
Bridgebio Pharma, Inc. * | 24,480 | 939,542 |
Bristol-Myers Squibb Co. | 713,400 | 41,698,230 |
Bruker Corp. | 32,088 | 1,365,024 |
Catalent, Inc. * | 51,980 | 4,562,285 |
Charles River Laboratories International, Inc. * | 15,740 | 3,583,998 |
Elanco Animal Health, Inc. * | 103,863 | 3,220,792 |
Security | Number of Shares | Value ($) |
Eli Lilly & Co. | 251,339 | 32,789,686 |
Exact Sciences Corp. * | 47,665 | 5,902,357 |
Exelixis, Inc. * | 97,532 | 1,997,455 |
FibroGen, Inc. * | 26,417 | 1,013,884 |
Gilead Sciences, Inc. | 396,707 | 23,068,512 |
Global Blood Therapeutics, Inc. * | 19,722 | 1,042,899 |
Horizon Therapeutics plc * | 67,100 | 5,027,803 |
Illumina, Inc. * | 46,174 | 13,515,130 |
Incyte Corp. * | 59,008 | 5,112,453 |
Intercept Pharmaceuticals, Inc. * | 8,455 | 234,964 |
Ionis Pharmaceuticals, Inc. * | 44,379 | 2,083,594 |
IQVIA Holdings, Inc. * | 60,399 | 9,300,842 |
Jazz Pharmaceuticals plc * | 17,564 | 2,530,972 |
Johnson & Johnson | 833,519 | 114,283,790 |
Merck & Co., Inc. | 800,788 | 60,227,266 |
Mettler-Toledo International, Inc. * | 7,609 | 7,593,097 |
Mirati Therapeutics, Inc. * | 13,815 | 2,999,789 |
Moderna, Inc. * | 95,157 | 6,420,243 |
Mylan N.V. * | 163,169 | 2,372,477 |
Nektar Therapeutics * | 57,684 | 913,715 |
Neurocrine Biosciences, Inc. * | 29,544 | 2,915,106 |
PerkinElmer, Inc. | 35,524 | 4,602,134 |
Perrigo Co., plc | 42,931 | 1,883,383 |
Pfizer, Inc. | 1,759,131 | 62,413,968 |
PRA Health Sciences, Inc. * | 20,116 | 1,960,103 |
Reata Pharmaceuticals, Inc., Class A * | 7,625 | 889,914 |
Regeneron Pharmaceuticals, Inc. * | 33,069 | 17,974,986 |
Repligen Corp. * | 15,508 | 2,583,168 |
Sage Therapeutics, Inc. * | 16,316 | 1,197,268 |
Sarepta Therapeutics, Inc. * | 24,920 | 3,386,877 |
Seagen, Inc. * | 38,652 | 6,447,154 |
Syneos Health, Inc. * | 22,173 | 1,176,943 |
Thermo Fisher Scientific, Inc. | 125,264 | 59,264,904 |
United Therapeutics Corp. * | 14,140 | 1,898,012 |
Vertex Pharmaceuticals, Inc. * | 82,268 | 17,141,360 |
Waters Corp. * | 19,554 | 4,357,022 |
Zoetis, Inc. | 150,372 | 23,841,481 |
712,574,813 | ||
Real Estate 3.1% | ||
Alexandria Real Estate Equities, Inc. | 37,224 | 5,640,180 |
American Campus Communities, Inc. | 43,312 | 1,622,467 |
American Homes 4 Rent, Class A | 84,697 | 2,394,384 |
American Tower Corp. | 140,418 | 32,246,994 |
Americold Realty Trust | 64,655 | 2,342,451 |
Apartment Investment & Management Co., Class A | 46,779 | 1,492,250 |
AvalonBay Communities, Inc. | 44,674 | 6,215,494 |
Boston Properties, Inc. | 44,983 | 3,257,219 |
Brixmor Property Group, Inc. | 93,129 | 1,020,694 |
Camden Property Trust | 30,956 | 2,855,381 |
CBRE Group, Inc., Class A * | 106,502 | 5,367,701 |
CoreSite Realty Corp. | 13,509 | 1,612,434 |
Cousins Properties, Inc. | 47,237 | 1,203,599 |
Crown Castle International Corp. | 132,845 | 20,750,389 |
CubeSmart | 61,264 | 2,078,687 |
CyrusOne, Inc. | 37,106 | 2,636,381 |
Digital Realty Trust, Inc. | 85,023 | 12,268,819 |
Douglas Emmett, Inc. | 52,267 | 1,233,501 |
Duke Realty Corp. | 117,396 | 4,459,874 |
EastGroup Properties, Inc. | 12,263 | 1,631,960 |
EPR Properties | 23,118 | 551,133 |
Equinix, Inc. | 28,033 | 20,498,851 |
Equity Commonwealth | 39,015 | 1,030,776 |
Equity LifeStyle Properties, Inc. | 53,806 | 3,184,777 |
Equity Residential | 108,722 | 5,107,760 |
Essex Property Trust, Inc. | 20,652 | 4,225,193 |
Security | Number of Shares | Value ($) |
Extra Space Storage, Inc. | 40,937 | 4,746,645 |
Federal Realty Investment Trust | 21,888 | 1,505,457 |
First Industrial Realty Trust, Inc. | 40,218 | 1,601,079 |
Gaming & Leisure Properties, Inc. | 64,973 | 2,361,768 |
Healthcare Realty Trust, Inc. | 43,342 | 1,204,908 |
Healthcare Trust of America, Inc., Class A | 68,778 | 1,671,305 |
Healthpeak Properties, Inc. | 169,704 | 4,576,917 |
Highwoods Properties, Inc. | 33,502 | 997,354 |
Host Hotels & Resorts, Inc. | 223,895 | 2,346,420 |
Hudson Pacific Properties, Inc. | 48,073 | 925,886 |
Invitation Homes, Inc. | 177,946 | 4,850,808 |
Iron Mountain, Inc. | 91,794 | 2,392,152 |
JBG SMITH Properties | 35,798 | 835,883 |
Jones Lang LaSalle, Inc. | 16,248 | 1,833,749 |
Kilroy Realty Corp. | 33,333 | 1,569,318 |
Kimco Realty Corp. | 136,430 | 1,399,772 |
Lamar Advertising Co., Class A | 27,198 | 1,685,188 |
Life Storage, Inc. | 14,679 | 1,675,608 |
Medical Properties Trust, Inc. | 167,819 | 2,990,535 |
Mid-America Apartment Communities, Inc. | 36,045 | 4,203,928 |
National Retail Properties, Inc. | 55,089 | 1,763,399 |
Omega Healthcare Investors, Inc. | 71,565 | 2,061,788 |
Outfront Media, Inc. | 47,093 | 617,389 |
Park Hotels & Resorts, Inc. | 75,179 | 746,527 |
Prologis, Inc. | 233,814 | 23,194,349 |
PS Business Parks, Inc. | 6,312 | 719,757 |
Public Storage | 48,144 | 11,028,346 |
Rayonier, Inc. | 42,941 | 1,089,843 |
Realty Income Corp. | 109,324 | 6,325,487 |
Regency Centers Corp. | 50,129 | 1,784,091 |
Rexford Industrial Realty, Inc. | 38,623 | 1,794,425 |
Ryman Hospitality Properties, Inc. | 16,822 | 670,357 |
Sabra Health Care REIT, Inc. | 65,318 | 859,585 |
SBA Communications Corp. | 35,354 | 10,265,741 |
Service Properties Trust | 53,012 | 382,216 |
Simon Property Group, Inc. | 97,081 | 6,097,658 |
SL Green Realty Corp. | 23,303 | 997,601 |
Spirit Realty Capital, Inc. | 31,799 | 955,560 |
STAG Industrial, Inc. | 47,151 | 1,467,339 |
STORE Capital Corp. | 72,126 | 1,853,638 |
Sun Communities, Inc. | 31,092 | 4,279,192 |
The Howard Hughes Corp. * | 14,258 | 886,705 |
UDR, Inc. | 93,891 | 2,933,155 |
Ventas, Inc. | 118,409 | 4,673,603 |
VEREIT, Inc. | 342,163 | 2,121,411 |
VICI Properties, Inc. | 169,399 | 3,887,707 |
Vornado Realty Trust | 48,724 | 1,497,288 |
Weingarten Realty Investors | 38,809 | 615,511 |
Welltower, Inc. | 132,434 | 7,120,976 |
Weyerhaeuser Co. | 236,851 | 6,463,664 |
WP Carey, Inc. | 55,020 | 3,444,802 |
304,903,139 | ||
Retailing 7.6% | ||
Aaron's Holdings Co., Inc. | 21,156 | 1,105,613 |
Advance Auto Parts, Inc. | 21,743 | 3,202,309 |
Amazon.com, Inc. * | 134,781 | 409,215,333 |
AutoNation, Inc. * | 18,063 | 1,024,714 |
AutoZone, Inc. * | 7,414 | 8,370,258 |
Best Buy Co., Inc. | 72,671 | 8,106,450 |
Booking Holdings, Inc. * | 12,964 | 21,034,090 |
Burlington Stores, Inc. * | 20,851 | 4,036,337 |
CarMax, Inc. * | 51,773 | 4,475,258 |
Carvana Co. * | 17,616 | 3,265,126 |
Dollar General Corp. | 78,792 | 16,444,678 |
Dollar Tree, Inc. * | 75,085 | 6,781,677 |
Security | Number of Shares | Value ($) |
eBay, Inc. | 210,073 | 10,005,777 |
Etsy, Inc. * | 37,695 | 4,583,335 |
Expedia Group, Inc. | 43,193 | 4,066,621 |
Five Below, Inc. * | 17,649 | 2,353,318 |
Floor & Decor Holdings, Inc., Class A * | 32,956 | 2,405,788 |
Foot Locker, Inc. | 33,076 | 1,219,843 |
Genuine Parts Co. | 45,585 | 4,122,252 |
GrubHub, Inc. * | 29,121 | 2,153,789 |
Kohl's Corp. | 50,983 | 1,085,428 |
L Brands, Inc. | 73,986 | 2,368,292 |
LKQ Corp. * | 88,944 | 2,845,319 |
Lowe's Cos., Inc. | 239,351 | 37,841,393 |
Macy's, Inc. (b) | 101,576 | 630,787 |
Nordstrom, Inc. (b) | 34,533 | 417,849 |
O'Reilly Automotive, Inc. * | 23,394 | 10,213,820 |
Penske Automotive Group, Inc. | 9,959 | 509,502 |
Pool Corp. | 12,728 | 4,452,636 |
RH * | 4,901 | 1,642,962 |
Ross Stores, Inc. | 112,409 | 9,573,875 |
Target Corp. | 158,541 | 24,133,111 |
The Gap, Inc. | 65,314 | 1,270,357 |
The Home Depot, Inc. | 340,886 | 90,917,705 |
The TJX Cos., Inc. | 379,593 | 19,283,324 |
Tiffany & Co. | 34,281 | 4,485,326 |
Tractor Supply Co. | 36,695 | 4,888,141 |
Ulta Beauty, Inc. * | 17,726 | 3,665,205 |
Wayfair, Inc., Class A * | 21,745 | 5,393,412 |
Williams-Sonoma, Inc. | 24,767 | 2,258,998 |
745,850,008 | ||
Semiconductors & Semiconductor Equipment 4.8% | ||
Advanced Micro Devices, Inc. * | 371,615 | 27,978,893 |
Analog Devices, Inc. | 116,804 | 13,844,778 |
Applied Materials, Inc. | 288,952 | 17,114,627 |
Broadcom, Inc. | 127,339 | 44,521,535 |
Cirrus Logic, Inc. * | 18,195 | 1,253,090 |
CMC Materials, Inc. | 9,158 | 1,302,176 |
Cree, Inc. * | 34,434 | 2,190,002 |
Enphase Energy, Inc. * | 39,986 | 3,922,227 |
Entegris, Inc. | 42,757 | 3,196,941 |
First Solar, Inc. * | 26,901 | 2,341,598 |
Inphi Corp. * | 16,488 | 2,304,363 |
Intel Corp. | 1,346,773 | 59,635,108 |
KLA Corp. | 49,332 | 9,727,284 |
Lam Research Corp. | 46,063 | 15,757,231 |
Marvell Technology Group Ltd. | 211,109 | 7,918,699 |
Maxim Integrated Products, Inc. | 84,736 | 5,901,862 |
Microchip Technology, Inc. | 80,112 | 8,418,169 |
Micron Technology, Inc. * | 351,569 | 17,697,983 |
MKS Instruments, Inc. | 17,285 | 1,873,521 |
Monolithic Power Systems, Inc. | 13,402 | 4,283,279 |
NVIDIA Corp. | 195,304 | 97,917,613 |
ON Semiconductor Corp. * | 130,217 | 3,267,145 |
Qorvo, Inc. * | 36,255 | 4,617,437 |
QUALCOMM, Inc. | 357,239 | 44,069,003 |
Silicon Laboratories, Inc. * | 13,748 | 1,408,620 |
Skyworks Solutions, Inc. | 53,008 | 7,489,500 |
SolarEdge Technologies, Inc. * | 15,794 | 4,069,956 |
Teradyne, Inc. | 52,334 | 4,597,542 |
Texas Instruments, Inc. | 290,272 | 41,970,429 |
Universal Display Corp. | 13,494 | 2,675,995 |
Xilinx, Inc. | 77,149 | 9,156,815 |
472,423,421 | ||
Security | Number of Shares | Value ($) |
Software & Services 15.1% | ||
Accenture plc, Class A | 201,511 | 43,709,751 |
ACI Worldwide, Inc. * | 35,928 | 1,048,020 |
Adobe, Inc. * | 151,856 | 67,894,818 |
Akamai Technologies, Inc. * | 51,608 | 4,908,953 |
Alliance Data Systems Corp. | 15,170 | 781,862 |
Alteryx, Inc., Class A * | 16,988 | 2,129,446 |
Amdocs Ltd. | 41,729 | 2,352,681 |
Anaplan, Inc. * | 43,663 | 2,416,747 |
ANSYS, Inc. * | 27,223 | 8,285,864 |
Aspen Technology, Inc. * | 21,428 | 2,353,009 |
Autodesk, Inc. * | 69,378 | 16,341,294 |
Automatic Data Processing, Inc. | 136,097 | 21,497,882 |
Avalara, Inc. * | 26,497 | 3,949,378 |
Black Knight, Inc. * | 49,847 | 4,384,044 |
Blackbaud, Inc. | 15,760 | 777,598 |
Booz Allen Hamilton Holding Corp. | 43,268 | 3,396,538 |
Broadridge Financial Solutions, Inc. | 36,331 | 4,999,146 |
CACI International, Inc., Class A * | 7,901 | 1,647,595 |
Cadence Design Systems, Inc. * | 88,471 | 9,676,073 |
CDK Global, Inc. | 38,448 | 1,657,109 |
Ceridian HCM Holding, Inc. * | 41,203 | 3,552,523 |
Citrix Systems, Inc. | 39,203 | 4,440,524 |
Cognizant Technology Solutions Corp., Class A | 171,382 | 12,240,102 |
Cornerstone OnDemand, Inc. * | 19,256 | 731,535 |
Coupa Software, Inc. * | 21,218 | 5,680,059 |
DocuSign, Inc. * | 57,998 | 11,730,095 |
Dropbox, Inc., Class A * | 93,188 | 1,701,613 |
DXC Technology Co. | 81,117 | 1,494,175 |
Dynatrace, Inc. * | 57,660 | 2,035,975 |
Elastic N.V. * | 18,955 | 1,922,226 |
Envestnet, Inc. * | 17,203 | 1,320,158 |
EPAM Systems, Inc. * | 17,684 | 5,463,472 |
Euronet Worldwide, Inc. * | 16,622 | 1,476,698 |
Fair Isaac Corp. * | 9,109 | 3,565,718 |
Fidelity National Information Services, Inc. | 196,239 | 24,449,417 |
FireEye, Inc. * | 71,497 | 989,518 |
Fiserv, Inc. * | 175,861 | 16,789,450 |
Five9, Inc. * | 20,744 | 3,147,280 |
FleetCor Technologies, Inc. * | 26,679 | 5,893,658 |
Fortinet, Inc. * | 42,536 | 4,694,698 |
Gartner, Inc. * | 28,336 | 3,403,154 |
Genpact Ltd. | 56,365 | 1,937,265 |
Global Payments, Inc. | 94,659 | 14,931,511 |
GoDaddy, Inc., Class A * | 52,805 | 3,735,426 |
Guidewire Software, Inc. * | 26,405 | 2,537,784 |
HubSpot, Inc. * | 13,594 | 3,943,212 |
International Business Machines Corp. | 282,030 | 31,491,470 |
Intuit, Inc. | 82,906 | 26,088,860 |
j2 Global, Inc. * | 14,100 | 957,108 |
Jack Henry & Associates, Inc. | 24,267 | 3,597,583 |
KBR, Inc. | 44,451 | 990,813 |
Leidos Holdings, Inc. | 42,201 | 3,502,683 |
Manhattan Associates, Inc. * | 20,211 | 1,728,040 |
Mastercard, Inc., Class A | 279,643 | 80,716,155 |
MAXIMUS, Inc. | 19,049 | 1,287,331 |
Medallia, Inc. * | 24,668 | 701,805 |
Microsoft Corp. | 2,395,688 | 485,054,949 |
MongoDB, Inc. * | 16,047 | 3,666,258 |
New Relic, Inc. * | 16,436 | 997,008 |
NortonLifeLock, Inc. | 187,559 | 3,858,089 |
Nuance Communications, Inc. * | 89,493 | 2,855,722 |
Nutanix, Inc., Class A * | 58,585 | 1,425,959 |
Okta, Inc. * | 36,821 | 7,726,150 |
Oracle Corp. | 612,325 | 34,357,556 |
Palo Alto Networks, Inc. * | 30,613 | 6,771,289 |
Security | Number of Shares | Value ($) |
Paychex, Inc. | 101,697 | 8,364,578 |
Paycom Software, Inc. * | 15,439 | 5,621,185 |
Paylocity Holding Corp. * | 11,793 | 2,187,837 |
PayPal Holdings, Inc. * | 371,402 | 69,129,054 |
Pegasystems, Inc. | 12,324 | 1,428,105 |
Perspecta, Inc. | 42,238 | 757,327 |
Proofpoint, Inc. * | 18,290 | 1,751,085 |
PTC, Inc. * | 33,087 | 2,775,338 |
Q2 Holdings, Inc. * | 15,976 | 1,457,650 |
RealPage, Inc. * | 28,139 | 1,567,061 |
RingCentral, Inc., Class A * | 24,758 | 6,395,982 |
Sabre Corp. | 100,165 | 653,076 |
salesforce.com, Inc. * | 288,062 | 66,908,161 |
Science Applications International Corp. | 18,491 | 1,412,158 |
ServiceNow, Inc. * | 60,714 | 30,209,465 |
Slack Technologies, Inc., Class A * | 137,291 | 3,511,904 |
Smartsheet, Inc., Class A * | 35,609 | 1,775,109 |
SolarWinds Corp. * | 21,428 | 437,774 |
Splunk, Inc. * | 50,172 | 9,936,063 |
Square, Inc., Class A * | 117,468 | 18,193,444 |
SS&C Technologies Holdings, Inc. | 71,258 | 4,219,899 |
Synopsys, Inc. * | 48,158 | 10,299,070 |
The Trade Desk, Inc., Class A * | 13,160 | 7,454,482 |
The Western Union Co. | 130,425 | 2,535,462 |
Twilio, Inc., Class A * | 43,432 | 12,116,225 |
Tyler Technologies, Inc. * | 12,690 | 4,877,782 |
Verint Systems, Inc. * | 20,699 | 1,004,315 |
VeriSign, Inc. * | 32,082 | 6,118,037 |
Visa, Inc., Class A | 533,770 | 96,991,347 |
VMware, Inc., Class A * | 25,412 | 3,271,287 |
WEX, Inc. * | 14,080 | 1,781,824 |
Workday, Inc., Class A * | 54,973 | 11,550,927 |
Zendesk, Inc. * | 36,644 | 4,065,285 |
Zoom Video Communications, Inc., Class A * | 57,644 | 26,568,696 |
Zscaler, Inc. * | 22,779 | 3,092,249 |
1,476,209,125 | ||
Technology Hardware & Equipment 7.4% | ||
Amphenol Corp., Class A | 94,660 | 10,681,434 |
Apple Inc. | 5,089,294 | 554,020,545 |
Arista Networks, Inc. * | 17,318 | 3,617,730 |
Arrow Electronics, Inc. * | 24,708 | 1,924,506 |
Avnet, Inc. | 31,369 | 773,873 |
CDW Corp. | 45,098 | 5,529,015 |
Ciena Corp. * | 49,095 | 1,933,852 |
Cisco Systems, Inc. | 1,340,750 | 48,132,925 |
Cognex Corp. | 54,848 | 3,614,483 |
Coherent, Inc. * | 7,508 | 939,551 |
Corning, Inc. | 241,553 | 7,722,449 |
Dell Technologies, Inc., Class C * | 74,413 | 4,484,127 |
Dolby Laboratories, Inc., Class A | 20,059 | 1,506,030 |
F5 Networks, Inc. * | 19,275 | 2,562,419 |
FLIR Systems, Inc. | 41,162 | 1,427,910 |
Hewlett Packard Enterprise Co. | 409,322 | 3,536,542 |
HP, Inc. | 435,818 | 7,827,291 |
IPG Photonics Corp. * | 11,245 | 2,091,120 |
Jabil, Inc. | 42,423 | 1,405,898 |
Juniper Networks, Inc. | 105,316 | 2,076,832 |
Keysight Technologies, Inc. * | 59,283 | 6,217,008 |
Littelfuse, Inc. | 7,651 | 1,514,439 |
Lumentum Holdings, Inc. * | 23,878 | 1,974,472 |
Motorola Solutions, Inc. | 53,880 | 8,516,273 |
National Instruments Corp. | 41,806 | 1,307,692 |
NCR Corp. * | 39,377 | 800,141 |
NetApp, Inc. | 70,166 | 3,079,586 |
Pure Storage, Inc., Class A * | 75,781 | 1,220,074 |
Security | Number of Shares | Value ($) |
Seagate Technology plc | 70,831 | 3,387,138 |
SYNNEX Corp. | 12,922 | 1,701,052 |
TE Connectivity Ltd. | 104,295 | 10,104,100 |
Trimble, Inc. * | 78,699 | 3,787,783 |
Ubiquiti, Inc. | 2,431 | 451,218 |
ViaSat, Inc. * | 20,397 | 691,458 |
Vontier Corp. * | 42,788 | 1,229,727 |
Western Digital Corp. | 95,357 | 3,597,820 |
Xerox Holdings Corp. | 57,157 | 993,389 |
Zebra Technologies Corp., Class A * | 16,833 | 4,774,512 |
721,156,414 | ||
Telecommunication Services 1.7% | ||
AT&T, Inc. | 2,256,030 | 60,957,931 |
CenturyLink, Inc. | 309,843 | 2,670,847 |
GCI Liberty, Inc., Class A * | 32,171 | 2,613,250 |
Liberty Global plc, Class A * | 45,207 | 858,029 |
Liberty Global plc, Class C * | 117,716 | 2,196,580 |
T-Mobile US, Inc. * | 184,116 | 20,173,590 |
Verizon Communications, Inc. | 1,310,336 | 74,676,049 |
164,146,276 | ||
Transportation 2.0% | ||
Alaska Air Group, Inc. | 39,246 | 1,487,031 |
AMERCO | 2,866 | 994,961 |
American Airlines Group, Inc. (b) | 161,113 | 1,817,355 |
C.H. Robinson Worldwide, Inc. | 42,368 | 3,746,602 |
CSX Corp. | 242,110 | 19,112,163 |
Delta Air Lines, Inc. | 202,378 | 6,200,862 |
Expeditors International of Washington, Inc. | 53,214 | 4,702,521 |
FedEx Corp. | 76,302 | 19,798,080 |
JB Hunt Transport Services, Inc. | 26,460 | 3,221,240 |
JetBlue Airways Corp. * | 85,989 | 1,029,288 |
Kansas City Southern | 29,941 | 5,273,808 |
Kirby Corp. * | 19,086 | 734,620 |
Knight-Swift Transportation Holdings, Inc. | 39,988 | 1,519,144 |
Landstar System, Inc. | 12,004 | 1,496,899 |
Lyft, Inc., Class A * | 77,028 | 1,758,549 |
Macquarie Infrastructure Corp. | 23,211 | 598,844 |
Norfolk Southern Corp. | 80,707 | 16,877,448 |
Old Dominion Freight Line, Inc. | 30,530 | 5,811,996 |
Southwest Airlines Co. | 187,145 | 7,397,842 |
Uber Technologies, Inc. * | 437,902 | 14,630,306 |
Union Pacific Corp. | 214,949 | 38,086,813 |
United Airlines Holdings, Inc. * | 92,357 | 3,127,208 |
United Parcel Service, Inc., Class B | 223,889 | 35,175,201 |
XPO Logistics, Inc. * | 28,913 | 2,602,170 |
197,200,951 | ||
Utilities 3.1% | ||
ALLETE, Inc. | 16,211 | 836,163 |
Alliant Energy Corp. | 78,707 | 4,350,923 |
Ameren Corp. | 78,428 | 6,362,079 |
American Electric Power Co., Inc. | 156,917 | 14,111,546 |
American Water Works Co., Inc. | 57,495 | 8,653,572 |
Atmos Energy Corp. | 39,106 | 3,584,847 |
Avangrid, Inc. | 17,935 | 884,913 |
Black Hills Corp. | 20,082 | 1,137,846 |
CenterPoint Energy, Inc. | 171,179 | 3,617,012 |
CMS Energy Corp. | 90,870 | 5,754,797 |
Consolidated Edison, Inc. | 106,063 | 8,324,885 |
Dominion Energy, Inc. | 265,943 | 21,365,861 |
DTE Energy Co. | 61,141 | 7,546,022 |
Duke Energy Corp. | 232,808 | 21,443,945 |
Security | Number of Shares | Value ($) |
Edison International | 120,050 | 6,727,602 |
Entergy Corp. | 63,563 | 6,433,847 |
Essential Utilities, Inc. | 70,907 | 2,921,368 |
Evergy, Inc. | 71,536 | 3,948,787 |
Eversource Energy | 108,747 | 9,490,351 |
Exelon Corp. | 308,063 | 12,288,633 |
FirstEnergy Corp. | 171,794 | 5,105,718 |
Hawaiian Electric Industries, Inc. | 33,881 | 1,119,428 |
IDACORP, Inc. | 15,808 | 1,386,836 |
MDU Resources Group, Inc. | 63,052 | 1,498,116 |
National Fuel Gas Co. | 28,128 | 1,123,995 |
New Jersey Resources Corp. | 29,815 | 870,002 |
NextEra Energy, Inc. | 621,177 | 45,476,368 |
NiSource, Inc. | 121,755 | 2,796,712 |
NRG Energy, Inc. | 77,343 | 2,445,586 |
OGE Energy Corp. | 62,911 | 1,935,771 |
ONE Gas, Inc. | 17,040 | 1,176,442 |
Ormat Technologies, Inc. | 12,665 | 897,569 |
Pinnacle West Capital Corp. | 35,484 | 2,894,430 |
PNM Resources, Inc. | 24,794 | 1,239,700 |
Portland General Electric Co. | 27,734 | 1,089,946 |
PPL Corp. | 243,998 | 6,709,945 |
Public Service Enterprise Group, Inc. | 160,496 | 9,332,842 |
Sempra Energy | 91,403 | 11,458,280 |
Southwest Gas Holdings, Inc. | 17,725 | 1,164,887 |
Spire, Inc. | 16,296 | 913,228 |
The AES Corp. | 211,098 | 4,116,411 |
The Southern Co. | 334,283 | 19,204,558 |
UGI Corp. | 66,381 | 2,146,762 |
Vistra Corp. | 155,162 | 2,695,164 |
WEC Energy Group, Inc. | 99,593 | 10,014,076 |
Xcel Energy, Inc. | 166,002 | 11,625,120 |
300,222,891 | ||
Total Common Stock | ||
(Cost $2,535,785,297) | 9,736,264,912 | |
Other Investment Companies 0.3% of net assets | ||
Money Market Fund 0.2% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 26,263,404 | 26,263,404 |
Securities Lending Collateral 0.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 5,820,600 | 5,820,600 |
Total Other Investment Companies | ||
(Cost $32,084,004) | 32,084,004 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
S&P 500 Index, e-mini, expires 12/18/20 | 208 | 33,952,880 | (1,323,653) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $5,675,853. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Automobiles & Components 1.5% | ||
Adient plc * | 182,832 | 3,879,695 |
American Axle & Manufacturing Holdings, Inc. * | 233,654 | 1,570,155 |
Cooper Tire & Rubber Co. | 104,793 | 3,603,831 |
Cooper-Standard Holdings, Inc. * | 35,166 | 551,755 |
Dana, Inc. | 300,800 | 4,208,192 |
Dorman Products, Inc. * | 55,134 | 4,921,812 |
Fox Factory Holding Corp. * | 85,697 | 7,205,404 |
Gentherm, Inc. * | 67,626 | 3,130,408 |
LCI Industries | 51,056 | 5,598,801 |
Modine Manufacturing Co. * | 101,943 | 652,435 |
Motorcar Parts of America, Inc. * | 39,022 | 574,794 |
Patrick Industries, Inc. | 46,415 | 2,587,636 |
Standard Motor Products, Inc. | 43,843 | 2,008,009 |
Stoneridge, Inc. * | 54,035 | 1,233,619 |
Tenneco, Inc., Class A * | 105,340 | 908,031 |
The Goodyear Tire & Rubber Co. | 477,853 | 3,956,623 |
Visteon Corp. * | 57,345 | 5,140,979 |
Winnebago Industries, Inc. | 64,755 | 3,040,247 |
Workhorse Group, Inc. *(a) | 195,294 | 3,003,622 |
XPEL, Inc. * | 34,371 | 851,713 |
58,627,761 | ||
Banks 9.8% | ||
1st Constitution Bancorp | 18,970 | 247,369 |
1st Source Corp. | 34,125 | 1,142,846 |
ACNB Corp. | 17,276 | 360,550 |
Allegiance Bancshares, Inc. | 39,252 | 1,110,832 |
Altabancorp | 33,024 | 718,932 |
Amalgamated Bank, Class A | 27,454 | 304,739 |
Amerant Bancorp, Inc. * | 47,300 | 476,311 |
American National Bankshares, Inc. | 21,808 | 497,222 |
Ameris Bancorp | 137,877 | 4,039,796 |
Ames National Corp. | 17,716 | 341,919 |
Arrow Financial Corp. | 27,585 | 755,001 |
Atlantic Capital Bancshares, Inc. * | 43,337 | 601,518 |
Atlantic Union Bankshares Corp. | 160,892 | 4,068,959 |
Auburn National Bancorp, Inc. (a) | 5,043 | 187,398 |
Axos Financial, Inc. * | 120,151 | 3,275,316 |
Banc of California, Inc. | 92,687 | 1,112,244 |
BancFirst Corp. | 39,041 | 1,735,372 |
BancorpSouth Bank | 204,822 | 4,794,883 |
Bank First Corp. (a) | 12,894 | 825,345 |
Bank of Commerce Holdings | 33,703 | 269,961 |
Bank of Marin Bancorp | 27,339 | 823,997 |
Bank7 Corp. | 6,103 | 55,354 |
BankFinancial Corp. | 26,820 | 197,127 |
BankUnited, Inc. | 189,745 | 4,791,061 |
Bankwell Financial Group, Inc. | 14,019 | 231,314 |
Banner Corp. | 72,258 | 2,664,152 |
Bar Harbor Bankshares | 31,034 | 633,714 |
Baycom Corp. * | 23,484 | 260,672 |
BCB Bancorp, Inc. | 29,330 | 266,610 |
Berkshire Hills Bancorp, Inc. | 92,228 | 1,201,731 |
Bogota Financial Corp. * | 12,447 | 98,331 |
Security | Number of Shares | Value ($) |
Boston Private Financial Holdings, Inc. | 169,562 | 1,047,893 |
Bridge Bancorp, Inc. | 34,668 | 677,413 |
Bridgewater Bancshares, Inc. * | 45,051 | 500,517 |
Brookline Bancorp, Inc. | 161,193 | 1,544,229 |
Bryn Mawr Bank Corp. | 40,965 | 1,100,320 |
Business First Bancshares, Inc. | 39,888 | 662,540 |
Byline Bancorp, Inc. | 50,388 | 662,098 |
C&F Financial Corp. | 7,223 | 224,996 |
Cadence BanCorp | 256,361 | 2,876,370 |
California Bancorp, Inc. * | 16,339 | 223,027 |
Cambridge Bancorp | 13,383 | 830,950 |
Camden National Corp. | 30,476 | 974,318 |
Capital Bancorp, Inc. * | 16,145 | 169,845 |
Capital City Bank Group, Inc. | 28,242 | 601,837 |
Capitol Federal Financial, Inc. | 273,629 | 3,141,261 |
Capstar Financial Holdings, Inc. | 32,622 | 338,943 |
Carter Bank & Trust | 48,178 | 334,837 |
Cathay General Bancorp | 156,963 | 3,693,339 |
CB Financial Services, Inc. | 10,651 | 208,866 |
CBTX, Inc. | 36,685 | 693,346 |
Central Pacific Financial Corp. | 57,062 | 785,744 |
Central Valley Community Bancorp | 22,606 | 291,617 |
Century Bancorp, Inc., Class A | 5,671 | 405,873 |
Chemung Financial Corp. | 7,551 | 257,338 |
ChoiceOne Financial Services, Inc. | 14,717 | 423,261 |
CIT Group, Inc. | 205,085 | 6,039,753 |
Citizens & Northern Corp. | 27,578 | 467,171 |
Citizens Holdings Co. | 10,094 | 219,040 |
City Holding Co. | 32,795 | 1,981,802 |
Civista Bancshares, Inc. | 32,544 | 464,077 |
CNB Financial Corp. | 30,654 | 556,064 |
Coastal Financial Corp. * | 18,242 | 271,076 |
Codorus Valley Bancorp, Inc. | 20,002 | 269,227 |
Colony Bankcorp, Inc. | 15,137 | 189,667 |
Columbia Banking System, Inc. | 148,477 | 4,218,232 |
Columbia Financial, Inc. * | 102,169 | 1,245,440 |
Community Bank System, Inc. | 109,448 | 6,346,890 |
Community Bankers Trust Corp. | 46,562 | 254,229 |
Community Trust Bancorp, Inc. | 32,111 | 1,021,772 |
ConnectOne Bancorp, Inc. | 77,019 | 1,188,403 |
County Bancorp, Inc. | 9,765 | 180,653 |
CrossFirst Bankshares, Inc. * | 99,207 | 828,378 |
Customers Bancorp, Inc. * | 60,269 | 832,918 |
CVB Financial Corp. | 267,642 | 4,683,735 |
Dime Community Bancshares, Inc. | 58,809 | 743,934 |
Eagle Bancorp Montana, Inc. | 12,502 | 240,789 |
Eagle Bancorp, Inc. | 66,525 | 1,990,428 |
Enterprise Bancorp, Inc. | 19,005 | 429,703 |
Enterprise Financial Services Corp. | 50,003 | 1,455,587 |
Equity Bancshares, Inc., Class A * | 30,085 | 552,962 |
Esquire Financial Holdings, Inc. * | 13,342 | 208,002 |
ESSA Bancorp, Inc. | 18,811 | 239,088 |
Essent Group Ltd. | 228,604 | 9,109,869 |
Evans Bancorp, Inc. | 10,141 | 231,316 |
Farmers & Merchants Bancorp, Inc. | 20,928 | 419,816 |
Farmers National Banc Corp. | 53,908 | 628,028 |
FB Financial Corp. | 64,696 | 1,908,532 |
Federal Agricultural Mortgage Corp., Class C | 18,884 | 1,219,718 |
Fidelity D&D Bancorp, Inc. (a) | 8,069 | 384,569 |
Security | Number of Shares | Value ($) |
Financial Institutions, Inc. | 33,286 | 590,161 |
First BanCorp | 447,445 | 2,903,918 |
First BanCorp (North Carolina) | 59,631 | 1,436,511 |
First Bank | 32,778 | 245,507 |
First Busey Corp. | 104,797 | 1,885,298 |
First Business Financial Services, Inc. | 16,377 | 280,866 |
First Capital, Inc. (a) | 6,736 | 406,248 |
First Choice Bancorp | 20,756 | 292,244 |
First Commonwealth Financial Corp. | 202,873 | 1,748,765 |
First Community Bankshares, Inc. | 36,450 | 691,821 |
First Community Corp. | 14,112 | 200,532 |
First Financial Bancorp | 201,610 | 2,883,023 |
First Financial Bankshares, Inc. | 267,743 | 7,981,419 |
First Financial Corp. | 27,850 | 966,952 |
First Foundation, Inc. | 81,974 | 1,218,953 |
First Guaranty Bancshares, Inc. | 7,821 | 113,796 |
First Internet Bancorp | 20,162 | 433,886 |
First Interstate BancSystem, Inc., Class A | 86,580 | 3,056,274 |
First Merchants Corp. | 112,211 | 2,929,829 |
First Mid Bancshares, Inc. | 30,664 | 851,233 |
First Midwest Bancorp, Inc. | 237,001 | 2,974,363 |
First Northwest Bancorp | 17,287 | 203,122 |
First Savings Financial Group, Inc. | 4,032 | 217,930 |
First United Corp. | 14,491 | 172,733 |
First Western Financial, Inc. * | 13,490 | 191,558 |
Flagstar Bancorp, Inc. | 88,563 | 2,599,324 |
Flushing Financial Corp. | 56,700 | 725,193 |
FNCB Bancorp, Inc. | 34,833 | 191,582 |
Franklin Financial Services Corp. | 8,719 | 191,818 |
FS Bancorp, Inc. | 7,930 | 367,238 |
Fulton Financial Corp. | 330,105 | 3,627,854 |
FVCBankcorp, Inc. * | 25,088 | 309,586 |
German American Bancorp, Inc. | 51,217 | 1,545,217 |
Glacier Bancorp, Inc. | 198,588 | 7,109,450 |
Great Southern Bancorp, Inc. | 22,790 | 933,250 |
Great Western Bancorp, Inc. | 115,022 | 1,494,136 |
Greene County Bancorp, Inc. | 6,540 | 147,477 |
Guaranty Bancshares, Inc. | 14,277 | 412,605 |
Hancock Whitney Corp. | 179,307 | 4,100,751 |
Hanmi Financial Corp. | 63,463 | 570,532 |
HarborOne Bancorp, Inc. * | 109,783 | 1,031,960 |
Hawthorn Bancshares, Inc. | 12,308 | 233,360 |
HBT Financial, Inc. | 19,438 | 239,865 |
Heartland Financial USA, Inc. | 72,218 | 2,378,861 |
Heritage Commerce Corp. | 120,935 | 876,779 |
Heritage Financial Corp. | 74,885 | 1,569,590 |
Hilltop Holdings, Inc. | 149,809 | 3,417,143 |
Home Bancorp, Inc. | 16,167 | 408,055 |
Home BancShares, Inc. | 316,572 | 5,255,095 |
HomeStreet, Inc. | 46,222 | 1,436,118 |
HomeTrust Bancshares, Inc. | 32,882 | 525,126 |
Hope Bancorp, Inc. | 244,021 | 1,969,249 |
Horizon Bancorp, Inc. | 88,576 | 1,098,342 |
Howard Bancorp, Inc. * | 27,049 | 274,006 |
Independent Bank Corp. | 68,005 | 3,896,006 |
Independent Bank Corp., Michigan | 43,511 | 651,360 |
Independent Bank Group, Inc. | 76,540 | 3,947,933 |
International Bancshares Corp. | 110,250 | 3,051,720 |
Investar Holding Corp. | 20,506 | 285,854 |
Investors Bancorp, Inc. | 476,938 | 4,034,895 |
Kearny Financial Corp. | 166,279 | 1,396,744 |
Lakeland Bancorp, Inc. | 101,201 | 1,126,367 |
Lakeland Financial Corp. | 51,125 | 2,614,021 |
Landmark Bancorp, Inc. | 8,116 | 190,320 |
LCNB Corp. | 24,669 | 339,445 |
Level One Bancorp, Inc. | 11,014 | 173,471 |
Limestone Bancorp, Inc. * | 10,875 | 115,275 |
Live Oak Bancshares, Inc. | 58,300 | 2,173,424 |
Security | Number of Shares | Value ($) |
Luther Burbank Corp. | 37,727 | 355,766 |
Macatawa Bank Corp. | 54,308 | 390,475 |
Mackinac Financial Corp. | 19,127 | 189,931 |
MainStreet Bancshares, Inc. * | 14,347 | 213,914 |
Mercantile Bank Corp. | 32,828 | 717,620 |
Merchants Bancorp | 18,168 | 392,065 |
Meridian Bancorp, Inc. | 97,151 | 1,209,530 |
Meridian Corp. | 11,580 | 203,576 |
Meta Financial Group, Inc. | 69,231 | 2,031,238 |
Metrocity Bankshares, Inc. (a) | 35,793 | 500,028 |
Metropolitan Bank Holding Corp. * | 14,222 | 425,949 |
Mid Penn Bancorp, Inc. | 14,734 | 288,050 |
Middlefield Banc Corp. | 11,877 | 226,613 |
Midland States Bancorp, Inc. | 44,464 | 662,514 |
MidWestOne Financial Group, Inc. | 30,468 | 613,930 |
MMA Capital Holdings, Inc. * | 9,350 | 234,498 |
Mr Cooper Group, Inc. * | 158,166 | 3,334,139 |
MVB Financial Corp. | 20,696 | 330,101 |
National Bank Holdings Corp., Class A | 61,205 | 1,845,331 |
National Bankshares, Inc. | 13,300 | 361,494 |
NBT Bancorp, Inc. | 88,442 | 2,421,542 |
Nicolet Bankshares, Inc. * | 19,415 | 1,197,905 |
NMI Holdings, Inc., Class A * | 170,796 | 3,670,406 |
Northeast Bank * | 15,409 | 295,699 |
Northfield Bancorp, Inc. | 98,235 | 998,068 |
Northrim BanCorp, Inc. | 13,048 | 372,651 |
Northwest Bancshares, Inc. | 241,639 | 2,578,288 |
Norwood Financial Corp. | 12,153 | 278,061 |
Oak Valley Bancorp | 14,367 | 199,270 |
OceanFirst Financial Corp. | 122,916 | 1,840,053 |
Oconee Federal Financial Corp. | 2,234 | 50,287 |
OFG Bancorp | 105,209 | 1,513,958 |
Ohio Valley Banc Corp. | 9,204 | 197,058 |
Old National Bancorp | 339,421 | 4,745,106 |
Old Second Bancorp, Inc. | 59,064 | 504,997 |
OP Bancorp | 24,141 | 155,227 |
Origin Bancorp, Inc. | 45,687 | 1,022,018 |
Orrstown Financial Services, Inc. | 21,979 | 307,266 |
Pacific Premier Bancorp, Inc. | 165,095 | 4,209,922 |
Park National Corp. | 29,816 | 2,732,636 |
Parke Bancorp, Inc. | 21,205 | 255,096 |
Partners Bancorp | 21,396 | 107,408 |
PCB Bancorp | 26,504 | 249,138 |
PCSB Financial Corp. | 31,462 | 423,793 |
Peapack-Gladstone Financial Corp. | 37,865 | 639,161 |
Penns Woods Bancorp, Inc. | 14,533 | 300,252 |
PennyMac Financial Services, Inc. | 87,887 | 4,466,417 |
Peoples Bancorp of North Carolina, Inc. | 9,505 | 164,341 |
Peoples Bancorp, Inc. | 38,379 | 867,365 |
Peoples Financial Services Corp. | 14,485 | 519,287 |
Pioneer Bancorp, Inc. * | 22,976 | 217,353 |
Plumas Bancorp | 10,030 | 201,804 |
Ponce de Leon Federal Bank * | 15,660 | 142,506 |
Preferred Bank | 28,614 | 968,012 |
Premier Financial Bancorp, Inc. | 26,737 | 334,212 |
Premier Financial Corp. | 76,942 | 1,384,187 |
Professional Holding Corp., Class A * | 23,512 | 320,469 |
Provident Bancorp, Inc. | 17,972 | 154,919 |
Provident Financial Holdings, Inc. | 12,133 | 153,604 |
Provident Financial Services, Inc. | 149,294 | 2,025,920 |
Prudential Bancorp, Inc. | 16,490 | 191,119 |
QCR Holdings, Inc. | 30,616 | 950,014 |
Radian Group, Inc. | 396,587 | 7,118,737 |
RBB Bancorp | 34,196 | 436,683 |
Red River Bancshares, Inc. | 10,103 | 458,777 |
Reliant Bancorp, Inc. | 31,182 | 525,417 |
Renasant Corp. | 113,217 | 3,227,817 |
Republic Bancorp, Inc., Class A | 20,197 | 673,166 |
Security | Number of Shares | Value ($) |
Republic First Bancorp, Inc. * | 89,468 | 199,514 |
Richmond Mutual BanCorp., Inc. | 25,110 | 274,954 |
Riverview Bancorp, Inc. | 44,326 | 207,889 |
S&T Bancorp, Inc. | 80,278 | 1,588,702 |
Salisbury Bancorp, Inc. | 5,473 | 185,206 |
Sandy Spring Bancorp, Inc. | 95,781 | 2,428,048 |
SB Financial Group, Inc. | 15,310 | 234,855 |
Seacoast Banking Corp. of Florida * | 107,357 | 2,306,028 |
Security National Financial Corp., Class A * | 20,464 | 134,858 |
Select Bancorp, Inc. * | 31,291 | 233,118 |
ServisFirst Bancshares, Inc. | 100,723 | 3,716,679 |
Shore Bancshares, Inc. | 25,147 | 272,091 |
Sierra Bancorp | 29,009 | 575,539 |
Silvergate Capital Corp., Class A * | 31,938 | 714,134 |
Simmons First National Corp., Class A | 223,771 | 3,801,869 |
SmartFinancial, Inc. | 28,755 | 429,600 |
South Plains Financial, Inc. | 21,727 | 318,301 |
South State Corp. | 144,934 | 8,898,948 |
Southern First Bancshares, Inc. * | 14,863 | 398,923 |
Southern Missouri Bancorp, Inc. | 15,657 | 398,940 |
Southern National Bancorp of Virginia, Inc. | 41,021 | 396,263 |
Southside Bancshares, Inc. | 65,758 | 1,772,836 |
Spirit of Texas Bancshares, Inc. | 27,163 | 345,242 |
Standard AVB Financial Corp. | 8,321 | 273,095 |
Sterling Bancorp, Inc. | 35,705 | 126,039 |
Stock Yards Bancorp, Inc. | 42,524 | 1,625,267 |
Summit Financial Group, Inc. | 23,583 | 424,730 |
Territorial Bancorp, Inc. | 16,052 | 340,463 |
Texas Capital Bancshares, Inc. * | 104,540 | 4,704,300 |
The Bancorp, Inc. * | 107,004 | 1,027,238 |
The Bank of N.T. Butterfield & Son Ltd. | 105,700 | 2,796,822 |
The Bank of Princeton | 12,068 | 237,378 |
The Community Financial Corp. | 10,327 | 225,645 |
The First BanCorp, Inc. | 20,594 | 476,339 |
The First Bancshares, Inc. | 42,808 | 1,020,543 |
The First of Long Island Corp. | 47,280 | 729,530 |
The Hingham Institution For Savings | 2,956 | 597,023 |
Timberland Bancorp, Inc. | 15,866 | 302,247 |
Tompkins Financial Corp. | 29,802 | 1,668,614 |
Towne Bank | 139,184 | 2,530,365 |
TriCo Bancshares | 54,976 | 1,590,456 |
TriState Capital Holdings, Inc. * | 56,757 | 714,571 |
Triumph Bancorp, Inc. * | 46,706 | 1,967,724 |
TrustCo Bank Corp. | 196,825 | 1,081,553 |
Trustmark Corp. | 131,024 | 3,064,651 |
UMB Financial Corp. | 90,294 | 5,496,196 |
United Bankshares, Inc. | 256,465 | 6,727,077 |
United Community Banks, Inc. | 162,415 | 3,400,970 |
United Security Bancshares | 28,174 | 175,242 |
Unity Bancorp, Inc. | 15,380 | 215,628 |
Univest Financial Corp. | 59,805 | 948,507 |
Valley National Bancorp | 826,105 | 6,311,442 |
Veritex Holdings, Inc. | 98,648 | 1,946,325 |
Walker & Dunlop, Inc. | 58,409 | 3,672,758 |
Washington Federal, Inc. | 156,014 | 3,321,538 |
Washington Trust Bancorp, Inc. | 35,477 | 1,198,058 |
Waterstone Financial, Inc. | 46,461 | 784,262 |
WesBanco, Inc. | 135,525 | 3,291,902 |
West Bancorp, Inc. | 33,543 | 556,478 |
Westamerica Bancorp | 53,962 | 2,825,990 |
Western New England Bancorp, Inc. | 47,182 | 271,768 |
WSFS Financial Corp. | 104,327 | 3,306,123 |
388,797,109 | ||
Security | Number of Shares | Value ($) |
Capital Goods 10.2% | ||
AAON, Inc. | 85,026 | 4,966,369 |
AAR Corp. | 69,615 | 1,354,708 |
Advanced Drainage Systems, Inc. | 115,106 | 7,301,174 |
Aegion Corp. * | 62,900 | 887,519 |
Aerojet Rocketdyne Holdings, Inc. * | 152,067 | 4,930,012 |
Aerovironment, Inc. * | 45,012 | 3,437,116 |
Alamo Group, Inc. | 20,546 | 2,472,300 |
Albany International Corp., Class A | 63,924 | 3,256,289 |
Allied Motion Technologies, Inc. | 15,230 | 575,389 |
Alpha Pro Tech Ltd. *(a) | 24,971 | 354,338 |
Alta Equipment Group, Inc. * | 34,236 | 260,878 |
Altra Industrial Motion Corp. | 133,559 | 5,710,983 |
Ameresco, Inc., Class A * | 50,735 | 1,947,717 |
American Superconductor Corp. * | 46,006 | 639,943 |
American Woodmark Corp. * | 35,172 | 2,905,559 |
API Group Corp. * | 289,659 | 4,168,193 |
Apogee Enterprises, Inc. | 53,453 | 1,276,992 |
Applied Industrial Technologies, Inc. | 80,004 | 4,884,244 |
Arcosa, Inc. | 100,493 | 4,639,762 |
Argan, Inc. | 30,617 | 1,261,114 |
Astec Industries, Inc. | 46,663 | 2,370,480 |
Astronics Corp. * | 47,820 | 306,048 |
Atkore International Group, Inc. * | 98,423 | 2,036,372 |
AZZ, Inc. | 54,149 | 1,818,865 |
Barnes Group, Inc. | 97,123 | 3,564,414 |
Beacon Roofing Supply, Inc. * | 113,520 | 3,485,064 |
Bloom Energy Corp., Class A * | 184,329 | 2,329,919 |
Blue Bird Corp. * | 32,112 | 370,572 |
BMC Stock Holdings, Inc. * | 139,289 | 5,514,452 |
Builders FirstSource, Inc. * | 239,632 | 7,260,850 |
Caesarstone Ltd. | 46,935 | 452,923 |
CAI International, Inc. | 34,090 | 898,272 |
Chart Industries, Inc. * | 74,763 | 6,313,735 |
CIRCOR International, Inc. * | 41,470 | 1,157,013 |
Columbus McKinnon Corp. | 48,145 | 1,631,634 |
Comfort Systems USA, Inc. | 74,300 | 3,402,940 |
Concrete Pumping Holdings, Inc. * | 56,380 | 182,107 |
Construction Partners, Inc., Class A * | 54,565 | 1,112,035 |
Cornerstone Building Brands, Inc. * | 90,849 | 696,812 |
CSW Industrials, Inc. | 28,453 | 2,433,585 |
Cubic Corp. | 64,970 | 3,840,377 |
Douglas Dynamics, Inc. | 46,857 | 1,598,292 |
Ducommun, Inc. * | 22,270 | 732,683 |
DXP Enterprises, Inc. * | 34,528 | 540,018 |
Dycom Industries, Inc. * | 63,443 | 4,119,988 |
EMCOR Group, Inc. | 112,715 | 7,686,036 |
Encore Wire Corp. | 42,368 | 1,957,825 |
Energy Recovery, Inc. * | 83,444 | 808,572 |
Enerpac Tool Group Corp. | 112,655 | 2,008,639 |
EnerSys | 88,107 | 6,308,461 |
EnPro Industries, Inc. | 43,025 | 2,539,335 |
ESCO Technologies, Inc. | 52,951 | 4,431,469 |
EVI Industries, Inc. *(a) | 9,681 | 282,782 |
Evoqua Water Technologies Corp. * | 189,667 | 4,349,064 |
Federal Signal Corp. | 123,710 | 3,548,003 |
Fluor Corp. | 292,877 | 3,324,154 |
Foundation Building Materials, Inc. * | 42,827 | 623,561 |
Franklin Electric Co., Inc. | 95,379 | 5,696,988 |
FuelCell Energy, Inc. *(a) | 442,461 | 884,922 |
GATX Corp. | 72,067 | 4,920,735 |
Gencor Industries, Inc. * | 19,194 | 221,883 |
General Finance Corp. * | 21,569 | 141,277 |
Gibraltar Industries, Inc. * | 67,461 | 3,875,634 |
GMS, Inc. * | 86,549 | 1,956,007 |
Graham Corp. | 20,244 | 267,221 |
Granite Construction, Inc. | 97,384 | 1,880,485 |
Security | Number of Shares | Value ($) |
Great Lakes Dredge & Dock Corp. * | 132,029 | 1,363,860 |
Griffon Corp. | 89,364 | 1,915,964 |
H&E Equipment Services, Inc. | 66,574 | 1,400,717 |
HC2 Holdings, Inc. * | 78,545 | 168,872 |
Helios Technologies, Inc. | 64,498 | 2,698,596 |
Herc Holdings, Inc. * | 50,568 | 2,243,196 |
Hillenbrand, Inc. | 153,315 | 4,484,464 |
Hurco Cos., Inc. | 12,654 | 377,595 |
Hyster-Yale Materials Handling, Inc. | 20,577 | 872,465 |
IES Holdings, Inc. * | 16,725 | 533,862 |
Insteel Industries, Inc. | 38,306 | 833,539 |
JELD-WEN Holding, Inc. * | 141,153 | 2,968,448 |
John Bean Technologies Corp. | 64,902 | 5,449,821 |
Kadant, Inc. | 23,758 | 2,735,021 |
Kaman Corp. | 57,367 | 2,275,175 |
Kennametal, Inc. | 172,000 | 5,332,000 |
Kratos Defense & Security Solutions, Inc. * | 251,178 | 4,744,752 |
L.B. Foster Co., Class A * | 21,470 | 291,133 |
Lawson Products, Inc. * | 9,037 | 372,415 |
Lindsay Corp. | 22,532 | 2,372,620 |
LSI Industries, Inc. | 52,126 | 356,542 |
Luxfer Holdings plc | 60,096 | 746,392 |
Lydall, Inc. * | 35,539 | 703,317 |
Masonite International Corp. * | 50,427 | 4,437,576 |
MasTec, Inc. * | 117,363 | 5,825,899 |
Maxar Technologies, Inc. | 126,353 | 3,256,117 |
Mayville Engineering Co., Inc. * | 15,611 | 139,094 |
Meritor, Inc. * | 144,192 | 3,509,633 |
Miller Industries, Inc. | 23,260 | 696,404 |
Moog, Inc., Class A | 61,517 | 3,838,046 |
MRC Global, Inc. * | 162,892 | 693,920 |
Mueller Industries, Inc. | 115,514 | 3,341,820 |
Mueller Water Products, Inc., Class A | 324,029 | 3,356,940 |
MYR Group, Inc. * | 33,848 | 1,447,002 |
National Presto Industries, Inc. | 10,534 | 875,270 |
Navistar International Corp. * | 103,319 | 4,454,082 |
Nesco Holdings, Inc. * | 28,555 | 118,503 |
NN, Inc. * | 85,080 | 456,029 |
Northwest Pipe Co. * | 20,262 | 543,022 |
NOW, Inc. * | 227,698 | 926,731 |
NV5 Global, Inc. * | 22,543 | 1,264,211 |
Omega Flex, Inc. | 5,965 | 892,961 |
Orion Energy Systems, Inc. * | 55,521 | 356,445 |
PAE, Inc. * | 122,753 | 972,204 |
Park Aerospace Corp. | 39,828 | 421,779 |
Park-Ohio Holdings Corp. | 18,496 | 365,111 |
Parsons Corp. * | 46,864 | 1,477,153 |
PGT Innovations, Inc. * | 118,518 | 1,965,028 |
Plug Power, Inc. * | 706,281 | 9,887,934 |
Powell Industries, Inc. | 18,864 | 445,756 |
Preformed Line Products Co. | 6,158 | 338,875 |
Primoris Services Corp. | 99,717 | 1,881,660 |
Proto Labs, Inc. * | 55,439 | 6,546,237 |
Quanex Building Products Corp. | 68,245 | 1,242,059 |
Raven Industries, Inc. | 74,085 | 1,623,943 |
RBC Bearings, Inc. * | 51,057 | 6,078,336 |
Resideo Technologies, Inc. * | 257,567 | 2,596,275 |
REV Group, Inc. | 57,309 | 449,876 |
Rexnord Corp. | 252,630 | 8,104,370 |
Rush Enterprises, Inc., Class A | 85,008 | 3,046,687 |
Rush Enterprises, Inc., Class B | 13,777 | 433,287 |
Simpson Manufacturing Co., Inc. | 90,381 | 8,018,602 |
SiteOne Landscape Supply, Inc. * | 91,090 | 10,884,344 |
SPX Corp. * | 88,911 | 3,768,937 |
SPX FLOW, Inc. * | 87,999 | 3,726,758 |
Standex International Corp. | 25,538 | 1,585,654 |
Sterling Construction Co., Inc. * | 56,728 | 833,902 |
Sunrun, Inc. * | 302,438 | 15,732,825 |
Security | Number of Shares | Value ($) |
Systemax, Inc. | 25,293 | 719,080 |
Tennant Co. | 37,993 | 2,265,143 |
Terex Corp. | 139,937 | 3,455,045 |
Textainer Group Holdings Ltd. * | 107,310 | 1,551,703 |
The Eastern Co. | 11,372 | 232,785 |
The ExOne Co. *(a) | 24,224 | 243,451 |
The Gorman-Rupp Co. | 36,564 | 1,135,312 |
The Greenbrier Cos., Inc. | 66,987 | 1,807,309 |
The Manitowoc Co., Inc. * | 70,376 | 529,931 |
The Shyft Group Inc | 71,455 | 1,379,796 |
Thermon Group Holdings, Inc. * | 67,389 | 679,955 |
Titan Machinery, Inc. * | 39,945 | 598,776 |
TPI Composites, Inc. * | 63,043 | 2,087,984 |
Transcat, Inc. * | 14,206 | 439,107 |
TriMas Corp. * | 89,912 | 2,187,559 |
Triton International Ltd. | 125,259 | 4,619,552 |
Triumph Group, Inc. | 105,591 | 696,901 |
Tutor Perini Corp. * | 84,684 | 1,144,081 |
UFP Industries, Inc. | 123,987 | 6,188,191 |
Ultralife Corp. * | 19,577 | 101,017 |
Vectrus, Inc. * | 23,757 | 938,877 |
Veritiv Corp. * | 26,593 | 382,939 |
Vicor Corp. * | 40,057 | 3,124,446 |
Wabash National Corp. | 109,917 | 1,567,416 |
Watts Water Technologies, Inc., Class A | 56,761 | 6,287,416 |
Welbilt, Inc. * | 270,976 | 1,647,534 |
WESCO International, Inc. * | 101,558 | 4,188,252 |
Willis Lease Finance Corp. * | 6,012 | 127,515 |
WillScot Mobile Mini Holdings Corp. * | 332,084 | 6,170,121 |
407,708,359 | ||
Commercial & Professional Services 3.2% | ||
ABM Industries, Inc. | 138,832 | 4,820,247 |
Acacia Research Corp. * | 99,552 | 313,589 |
ACCO Brands Corp. | 191,893 | 1,011,276 |
Akerna Corp. *(a) | 19,321 | 45,984 |
ASGN, Inc. * | 105,503 | 7,034,940 |
Barrett Business Services, Inc. | 15,705 | 930,521 |
BG Staffing, Inc. | 18,724 | 149,230 |
Brady Corp., Class A | 97,482 | 3,677,021 |
BrightView Holdings, Inc. * | 84,685 | 1,035,698 |
Casella Waste Systems, Inc., Class A * | 95,400 | 5,150,646 |
CBIZ, Inc. * | 106,000 | 2,403,020 |
CECO Environmental Corp. * | 64,967 | 459,966 |
Cimpress plc * | 36,967 | 2,713,378 |
CompX International, Inc. | 2,729 | 34,495 |
Covanta Holding Corp. | 246,478 | 2,238,020 |
CRA International, Inc. | 15,526 | 635,790 |
Deluxe Corp. | 86,792 | 1,860,820 |
Ennis, Inc. | 52,929 | 806,638 |
Exponent, Inc. | 106,519 | 7,412,657 |
Forrester Research, Inc. * | 22,757 | 840,644 |
Franklin Covey Co. * | 25,920 | 438,566 |
GP Strategies Corp. * | 26,512 | 255,841 |
Harsco Corp. * | 162,523 | 2,096,547 |
Healthcare Services Group, Inc. | 154,346 | 3,531,436 |
Heidrick & Struggles International, Inc. | 39,486 | 902,255 |
Heritage-Crystal Clean, Inc. * | 31,566 | 520,208 |
Herman Miller, Inc. | 122,012 | 3,717,706 |
HNI Corp. | 88,666 | 2,886,078 |
Huron Consulting Group, Inc. * | 47,082 | 1,782,525 |
IBEX Ltd. *(a) | 9,837 | 148,637 |
ICF International, Inc. | 37,830 | 2,473,704 |
Insperity, Inc. | 75,131 | 5,753,532 |
Interface, Inc. | 121,174 | 742,797 |
KAR Auction Services, Inc. | 267,192 | 3,890,315 |
Kelly Services, Inc., Class A | 69,913 | 1,215,088 |
Security | Number of Shares | Value ($) |
Kforce, Inc. | 41,055 | 1,424,608 |
Kimball International, Inc., Class B | 74,909 | 771,563 |
Knoll, Inc. | 104,108 | 1,193,078 |
Korn Ferry | 116,109 | 3,505,331 |
Mastech Digital, Inc. * | 8,387 | 131,508 |
Matthews International Corp., Class A | 63,373 | 1,383,433 |
McGrath RentCorp | 50,153 | 2,862,733 |
Mistras Group, Inc. * | 37,960 | 141,211 |
Montrose Environmental Group, Inc. * | 22,713 | 613,932 |
NL Industries, Inc. | 18,784 | 77,766 |
PICO Holdings, Inc. * | 34,905 | 288,664 |
Pitney Bowes, Inc. | 360,182 | 1,912,566 |
Quad Graphics, Inc. | 67,835 | 153,985 |
Red Violet, Inc. *(a) | 13,948 | 290,118 |
Resources Connection, Inc. | 63,135 | 678,070 |
SP Plus Corp. * | 47,536 | 876,088 |
Steelcase, Inc., Class A | 179,345 | 1,872,362 |
Team, Inc. * | 62,364 | 334,271 |
Tetra Tech, Inc. | 111,813 | 11,283,050 |
The Brink's Co. | 104,001 | 4,454,363 |
TriNet Group, Inc. * | 85,306 | 5,879,289 |
TrueBlue, Inc. * | 74,376 | 1,154,316 |
U.S. Ecology, Inc. | 65,582 | 2,001,563 |
UniFirst Corp. | 31,250 | 5,119,062 |
Upwork, Inc. * | 192,837 | 3,557,843 |
Viad Corp. | 41,946 | 838,920 |
VSE Corp. | 18,079 | 523,568 |
Willdan Group, Inc. * | 21,427 | 560,745 |
127,813,821 | ||
Consumer Durables & Apparel 3.9% | ||
Acushnet Holdings Corp. | 71,237 | 2,431,319 |
American Outdoor Brands, Inc. * | 27,697 | 419,056 |
Beazer Homes USA, Inc. * | 58,221 | 709,132 |
Callaway Golf Co. | 193,151 | 2,991,909 |
Casper Sleep, Inc. *(a) | 52,412 | 347,492 |
Cavco Industries, Inc. * | 19,069 | 3,282,538 |
Century Communities, Inc. * | 60,721 | 2,358,404 |
Clarus Corp. | 48,216 | 747,830 |
Crocs, Inc. * | 138,343 | 7,239,489 |
Deckers Outdoor Corp. * | 58,061 | 14,710,916 |
Escalade, Inc. | 21,424 | 398,701 |
Ethan Allen Interiors, Inc. | 46,990 | 754,189 |
Fossil Group, Inc. * | 96,907 | 553,339 |
G-III Apparel Group Ltd. * | 91,438 | 1,232,584 |
GoPro, Inc., Class A * | 268,475 | 1,594,741 |
Green Brick Partners, Inc. * | 48,660 | 870,527 |
Hamilton Beach Brands Holding Co., Class A | 14,096 | 310,817 |
Helen of Troy Ltd. * | 52,485 | 9,951,156 |
Hooker Furniture Corp. | 24,038 | 661,045 |
Installed Building Products, Inc. * | 47,303 | 4,282,814 |
iRobot Corp. * | 57,092 | 4,543,381 |
Johnson Outdoors, Inc., Class A | 10,857 | 948,142 |
KB Home | 182,801 | 5,895,332 |
Kontoor Brands, Inc. * | 107,121 | 3,524,281 |
La-Z-Boy, Inc. | 92,573 | 3,168,774 |
Lakeland Industries, Inc. * | 15,617 | 336,859 |
Legacy Housing Corp. * | 17,818 | 242,503 |
LGI Homes, Inc. * | 46,136 | 4,931,016 |
Lifetime Brands, Inc. | 25,133 | 252,587 |
M.D.C. Holdings, Inc. | 105,216 | 4,579,000 |
M/I Homes, Inc. * | 57,928 | 2,370,414 |
Malibu Boats, Inc., Class A * | 42,697 | 2,170,288 |
Marine Products Corp. | 14,307 | 226,909 |
MasterCraft Boat Holdings, Inc. * | 37,765 | 778,714 |
Meritage Homes Corp. * | 77,073 | 6,712,288 |
Security | Number of Shares | Value ($) |
Movado Group, Inc. | 32,095 | 350,156 |
Nautilus, Inc. * | 61,112 | 1,325,519 |
Oxford Industries, Inc. | 34,101 | 1,403,938 |
Purple Innovation, Inc. * | 46,027 | 1,305,786 |
Rocky Brands, Inc. | 14,158 | 380,850 |
Skyline Champion Corp. * | 109,275 | 2,802,904 |
Smith & Wesson Brands, Inc. | 113,436 | 1,881,903 |
Sonos, Inc. * | 167,553 | 2,446,274 |
Steven Madden Ltd. | 170,362 | 4,090,392 |
Sturm, Ruger & Co., Inc. | 35,068 | 2,344,646 |
Superior Group of Cos., Inc. | 22,508 | 486,623 |
Taylor Morrison Home Corp. * | 261,419 | 5,646,650 |
The Lovesac Co. * | 20,356 | 523,963 |
TopBuild Corp. * | 68,573 | 10,506,069 |
TRI Pointe Group, Inc. * | 268,142 | 4,405,573 |
Tupperware Brands Corp. * | 101,958 | 3,234,108 |
Turtle Beach Corp. * | 27,888 | 502,542 |
Unifi, Inc. * | 28,846 | 432,401 |
Universal Electronics, Inc. * | 28,003 | 1,037,791 |
Vera Bradley, Inc. * | 42,232 | 267,751 |
Vista Outdoor, Inc. * | 121,262 | 2,397,350 |
VOXX International Corp. * | 40,862 | 462,966 |
Wolverine World Wide, Inc. | 165,240 | 4,406,951 |
YETI Holdings, Inc. * | 165,804 | 8,203,982 |
157,375,574 | ||
Consumer Services 4.0% | ||
Accel Entertainment, Inc. * | 92,231 | 885,418 |
Adtalem Global Education, Inc. * | 108,219 | 2,536,653 |
American Public Education, Inc. * | 29,763 | 841,400 |
Aspen Group, Inc. * | 39,982 | 375,031 |
Biglari Holdings, Inc., Class A * | 151 | 65,995 |
Biglari Holdings, Inc., Class B * | 1,922 | 161,006 |
BJ's Restaurants, Inc. | 45,799 | 1,291,990 |
Bloomin' Brands, Inc. | 181,965 | 2,543,871 |
Bluegreen Vacations Corp. | 11,032 | 53,726 |
Bluegreen Vacations Holding Corp. | 26,062 | 212,405 |
Boyd Gaming Corp. | 168,241 | 5,336,604 |
Brinker International, Inc. | 92,835 | 4,042,036 |
Caesars Entertainment, Inc. * | 343,846 | 15,411,178 |
Carriage Services, Inc. | 33,855 | 873,798 |
Carrols Restaurant Group, Inc. * | 71,434 | 417,889 |
Century Casinos, Inc. * | 57,453 | 270,604 |
Churchill Downs, Inc. | 78,774 | 11,749,142 |
Chuy's Holdings, Inc. * | 40,625 | 852,719 |
Collectors Universe, Inc. | 18,774 | 1,031,256 |
Cracker Barrel Old Country Store, Inc. | 49,097 | 5,588,221 |
Dave & Buster's Entertainment, Inc. | 91,839 | 1,575,957 |
Del Taco Restaurants, Inc. * | 61,919 | 459,129 |
Denny's Corp. * | 128,842 | 1,154,424 |
Dine Brands Global, Inc. | 32,355 | 1,664,665 |
El Pollo Loco Holdings, Inc. * | 37,407 | 528,187 |
Everi Holdings, Inc. * | 169,753 | 1,461,573 |
Fiesta Restaurant Group, Inc. * | 37,092 | 320,475 |
Franchise Group, Inc. | 45,354 | 1,039,514 |
GAN Ltd. * | 14,961 | 212,596 |
Golden Entertainment, Inc. * | 34,531 | 444,069 |
Hilton Grand Vacations, Inc. * | 177,065 | 3,647,539 |
Houghton Mifflin Harcourt Co. * | 223,115 | 582,330 |
International Game Technology plc | 206,635 | 1,696,473 |
Jack in the Box, Inc. | 46,860 | 3,751,612 |
K12, Inc. * | 83,001 | 1,981,234 |
Kura Sushi USA, Inc., Class A * | 7,069 | 90,978 |
Laureate Education, Inc., Class A * | 222,074 | 2,886,962 |
Lindblad Expeditions Holdings, Inc. * | 53,539 | 445,444 |
Marriott Vacations Worldwide Corp. | 83,888 | 8,103,581 |
Monarch Casino & Resort, Inc. * | 26,215 | 1,137,469 |
Security | Number of Shares | Value ($) |
Nathan's Famous, Inc. | 5,830 | 295,931 |
Noodles & Co. * | 64,689 | 417,891 |
OneSpaWorld Holdings Ltd. | 93,935 | 583,336 |
Papa John's International, Inc. | 67,802 | 5,193,633 |
Penn National Gaming, Inc. * | 315,382 | 17,024,320 |
Perdoceo Education Corp. * | 143,963 | 1,625,342 |
PlayAGS, Inc. * | 55,864 | 150,833 |
RCI Hospitality Holdings, Inc. | 17,624 | 377,154 |
Red Robin Gourmet Burgers, Inc. * | 32,013 | 385,436 |
Red Rock Resorts, Inc., Class A | 136,833 | 2,616,247 |
Regis Corp. * | 49,027 | 271,610 |
Ruth's Hospitality Group, Inc. | 67,208 | 751,385 |
Scientific Games Corp., Class A * | 118,199 | 3,768,184 |
SeaWorld Entertainment, Inc. * | 105,630 | 2,325,973 |
Shake Shack, Inc., Class A * | 72,648 | 4,905,193 |
Strategic Education, Inc. | 49,931 | 4,147,269 |
Target Hospitality Corp. * | 53,630 | 46,663 |
Texas Roadhouse, Inc. | 136,139 | 9,533,814 |
The Cheesecake Factory, Inc. | 88,114 | 2,618,748 |
Twin River Worldwide Holdings, Inc. | 37,239 | 903,790 |
Universal Technical Institute, Inc. * | 59,292 | 272,150 |
Vivint Smart Home, Inc. * | 151,380 | 2,353,959 |
Wingstop, Inc. | 61,419 | 7,144,872 |
WW International, Inc. * | 98,119 | 2,076,198 |
157,515,084 | ||
Diversified Financials 3.7% | ||
A-Mark Precious Metals, Inc. | 9,715 | 301,942 |
Alerus Financial Corp. | 30,732 | 661,045 |
Anworth Mortgage Asset Corp. | 208,768 | 342,380 |
Apollo Commercial Real Estate Finance, Inc. | 308,273 | 2,681,975 |
Arbor Realty Trust, Inc. | 218,672 | 2,584,703 |
Ares Commercial Real Estate Corp. | 63,779 | 593,782 |
Arlington Asset Investment Corp., Class A | 70,121 | 172,498 |
ARMOUR Residential REIT, Inc. | 132,982 | 1,268,648 |
Artisan Partners Asset Management, Inc., Class A | 113,857 | 4,561,111 |
Assetmark Financial Holdings, Inc. * | 34,019 | 719,502 |
Associated Capital Group, Inc., Class A | 3,564 | 114,404 |
Atlanticus Holdings Corp. * | 10,849 | 124,221 |
B. Riley Financial, Inc. | 39,440 | 1,034,906 |
Banco Latinoamericano de Comercio Exterior, S.A., Class E | 63,558 | 812,907 |
BGC Partners, Inc., Class A | 633,783 | 1,869,660 |
Blackstone Mortgage Trust, Inc., Class A | 285,402 | 6,193,223 |
Blucora, Inc. * | 100,140 | 996,393 |
Brightsphere Investment Group, Inc. | 127,546 | 1,760,135 |
Broadmark Realty Capital, Inc. | 267,415 | 2,666,128 |
Cannae Holdings, Inc. * | 178,716 | 6,608,918 |
Capstead Mortgage Corp. | 197,907 | 1,011,305 |
Cherry Hill Mortgage Investment Corp. | 31,126 | 285,114 |
Chimera Investment Corp. | 396,638 | 3,311,927 |
Cohen & Steers, Inc. | 50,486 | 2,842,867 |
Colony Credit Real Estate, Inc. | 174,102 | 912,294 |
Cowen, Inc., Class A | 55,189 | 1,184,356 |
Curo Group Holdings Corp. | 36,667 | 274,636 |
Diamond Hill Investment Group, Inc. | 6,448 | 882,989 |
Donnelley Financial Solutions, Inc. * | 61,894 | 781,721 |
Dynex Capital, Inc. | 45,312 | 742,211 |
Ellington Financial, Inc. | 85,630 | 1,048,111 |
Ellington Residential Mortgage REIT (a) | 19,467 | 206,934 |
Encore Capital Group, Inc. * | 64,887 | 2,071,842 |
Enova International, Inc. * | 71,752 | 1,101,393 |
EZCORP, Inc., Class A * | 99,460 | 443,592 |
Federated Hermes, Inc. | 199,905 | 4,777,729 |
FirstCash, Inc. | 84,268 | 4,385,307 |
Security | Number of Shares | Value ($) |
Focus Financial Partners, Inc., Class A * | 65,396 | 2,387,608 |
GAMCO Investors, Inc., Class A | 10,348 | 127,280 |
Granite Point Mortgage Trust, Inc. | 111,301 | 750,169 |
Great Ajax Corp. | 42,480 | 326,246 |
Green Dot Corp., Class A * | 105,471 | 5,623,714 |
Greenhill & Co., Inc. | 28,611 | 369,940 |
GWG Holdings, Inc. *(a) | 6,185 | 46,388 |
Hamilton Lane, Inc., Class A | 62,549 | 4,359,665 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 150,332 | 6,291,394 |
Houlihan Lokey, Inc. | 105,946 | 6,642,814 |
Invesco Mortgage Capital, Inc. (a) | 378,596 | 1,022,209 |
KKR Real Estate Finance Trust, Inc. | 59,316 | 991,170 |
Ladder Capital Corp. REIT | 219,583 | 1,646,873 |
LendingClub Corp. * | 144,753 | 675,997 |
Marlin Business Services Corp. | 18,213 | 132,955 |
MFA Financial, Inc. | 943,310 | 2,660,134 |
Moelis & Co., Class A | 109,281 | 4,065,253 |
Navient Corp. | 397,944 | 3,187,531 |
Nelnet, Inc., Class A | 35,805 | 2,185,537 |
New York Mortgage Trust, Inc. | 787,202 | 1,999,493 |
Oportun Financial Corp. * | 40,412 | 537,480 |
Oppenheimer Holdings, Inc., Class A | 19,240 | 482,154 |
Orchid Island Capital, Inc. | 139,579 | 724,415 |
PennyMac Mortgage Investment Trust | 206,018 | 3,084,089 |
Piper Sandler Cos. | 36,228 | 3,023,227 |
PJT Partners, Inc., Class A | 48,956 | 3,312,363 |
PRA Group, Inc. * | 93,347 | 3,185,933 |
Pzena Investment Management, Inc., Class A | 33,417 | 173,434 |
Ready Capital Corp. | 86,576 | 973,114 |
Redwood Trust, Inc. | 238,855 | 2,030,268 |
Regional Management Corp. * | 18,036 | 366,492 |
Safeguard Scientifics, Inc. | 39,793 | 231,595 |
Sculptor Capital Management, Inc. | 37,456 | 406,023 |
Siebert Financial Corp. * | 21,989 | 78,941 |
Silvercrest Asset Management Group, Inc., Class A | 20,498 | 231,422 |
Stifel Financial Corp. | 138,152 | 8,076,366 |
StoneX Group, Inc. * | 33,970 | 1,799,731 |
SWK Holdings Corp. * | 7,615 | 110,037 |
TPG RE Finance Trust, Inc. | 123,896 | 968,867 |
Two Harbors Investment Corp. | 569,371 | 2,881,017 |
Value Line, Inc. | 2,468 | 67,376 |
Virtus Investment Partners, Inc. | 15,316 | 2,443,668 |
Waddell & Reed Financial, Inc., Class A | 134,002 | 2,056,931 |
Western Asset Mortgage Capital Corp. | 121,982 | 236,645 |
Westwood Holdings Group, Inc. | 15,583 | 150,532 |
WisdomTree Investments, Inc. | 289,395 | 1,053,398 |
World Acceptance Corp. * | 9,805 | 823,522 |
147,334,219 | ||
Energy 1.9% | ||
Adams Resources & Energy, Inc. | 4,755 | 90,725 |
Antero Resources Corp. * | 504,578 | 1,715,565 |
Arch Resources, Inc. | 31,401 | 959,301 |
Archrock, Inc. | 270,084 | 1,601,598 |
Ardmore Shipping Corp. | 70,613 | 197,716 |
Aspen Aerogels, Inc. * | 41,935 | 473,866 |
Berry Corp. | 140,345 | 367,704 |
Bonanza Creek Energy, Inc. * | 39,099 | 692,443 |
Brigham Minerals, Inc., Class A | 76,510 | 674,818 |
Bristow Group, Inc. * | 13,692 | 284,519 |
Cactus, Inc., Class A | 99,047 | 1,683,799 |
ChampionX Corp. * | 384,110 | 3,353,280 |
Clean Energy Fuels Corp. * | 270,188 | 670,066 |
CNX Resources Corp. * | 461,107 | 4,472,738 |
Security | Number of Shares | Value ($) |
Comstock Resources, Inc. * | 50,543 | 268,383 |
CONSOL Energy, Inc. * | 55,112 | 208,874 |
Contango Oil & Gas Co. * | 193,401 | 241,751 |
CVR Energy, Inc. | 61,425 | 676,289 |
Delek US Holdings, Inc. | 129,900 | 1,306,794 |
DHT Holdings, Inc. | 231,809 | 1,115,001 |
Diamond S Shipping, Inc. * | 57,511 | 325,512 |
DMC Global, Inc. | 30,182 | 1,073,574 |
Dorian LPG Ltd. * | 78,080 | 640,256 |
Dril-Quip, Inc. * | 72,672 | 1,882,205 |
Earthstone Energy, Inc., Class A * | 50,385 | 135,536 |
Energy Fuels, Inc. *(a) | 251,988 | 380,502 |
Evolution Petroleum Corp. | 57,687 | 127,488 |
Exterran Corp. * | 53,144 | 224,799 |
Falcon Minerals Corp. | 76,371 | 140,523 |
Frank's International N.V. * | 322,350 | 564,113 |
Frontline Ltd. (a) | 245,230 | 1,326,694 |
Golar LNG Ltd. * | 189,227 | 1,428,664 |
Goodrich Petroleum Corp. * | 18,729 | 179,424 |
Green Plains, Inc. * | 70,743 | 1,068,219 |
Gulfport Energy Corp. * | 342,824 | 87,763 |
Helix Energy Solutions Group, Inc. * | 296,638 | 735,662 |
International Seaways, Inc. | 49,900 | 675,646 |
Kosmos Energy Ltd. | 838,129 | 833,352 |
Liberty Oilfield Services, Inc., Class A | 135,709 | 906,536 |
Magnolia Oil & Gas Corp., Class A * | 257,770 | 1,118,722 |
Matador Resources Co. * | 229,368 | 1,621,632 |
Matrix Service Co. * | 53,548 | 406,965 |
Montage Resources Corp. * | 44,440 | 219,978 |
Nabors Industries Ltd. | 14,894 | 423,288 |
NACCO Industries, Inc., Class A | 7,792 | 151,866 |
National Energy Services Reunited Corp. * | 41,663 | 308,306 |
Newpark Resources, Inc. * | 187,744 | 134,256 |
NextDecade Corp. *(a) | 45,447 | 109,982 |
NexTier Oilfield Solutions, Inc. * | 331,477 | 626,492 |
Nordic American Tankers Ltd. (a) | 299,813 | 872,456 |
Oceaneering International, Inc. * | 205,754 | 839,476 |
Oil States International, Inc. * | 126,742 | 315,588 |
Overseas Shipholding Group, Inc., Class A * | 133,236 | 254,481 |
Ovintiv, Inc. | 541,371 | 4,980,613 |
Par Pacific Holdings, Inc. * | 82,352 | 530,347 |
Patterson-UTI Energy, Inc. | 380,717 | 974,636 |
PBF Energy, Inc., Class A | 200,752 | 937,512 |
PDC Energy, Inc. * | 207,424 | 2,472,494 |
Peabody Energy Corp. * | 128,746 | 166,082 |
Penn Virginia Corp. * | 27,924 | 214,456 |
PrimeEnergy Resources Corp. * | 1,079 | 55,569 |
ProPetro Holding Corp. * | 165,743 | 654,685 |
Range Resources Corp. | 443,363 | 2,917,329 |
Renewable Energy Group, Inc. * | 79,173 | 4,465,357 |
REX American Resources Corp. * | 11,499 | 835,862 |
RPC, Inc. * | 116,587 | 277,477 |
Scorpio Tankers, Inc. | 106,348 | 937,989 |
SEACOR Holdings, Inc. * | 39,922 | 1,222,811 |
Select Energy Services, Inc., Class A * | 121,014 | 365,462 |
SFL Corp., Ltd. | 199,504 | 1,298,771 |
SM Energy Co. | 234,992 | 378,337 |
Solaris Oilfield Infrastructure, Inc., Class A | 59,234 | 351,258 |
Southwestern Energy Co. * | 1,245,375 | 3,325,151 |
Talos Energy, Inc. * | 23,880 | 157,130 |
Tellurian, Inc. * | 340,670 | 327,043 |
Tidewater, Inc. * | 83,299 | 488,132 |
Transocean Ltd. *(a) | 1,216,143 | 815,424 |
Uranium Energy Corp. * | 372,159 | 321,024 |
US Silica Holdings, Inc. | 155,225 | 422,212 |
W&T Offshore, Inc. *(a) | 189,512 | 265,317 |
Security | Number of Shares | Value ($) |
Whiting Petroleum Corp. * | 2,611 | 38,121 |
World Fuel Services Corp. | 129,321 | 2,722,207 |
74,113,994 | ||
Food & Staples Retailing 0.8% | ||
BJ's Wholesale Club Holdings, Inc. * | 283,817 | 10,867,353 |
HF Foods Group, Inc. *(a) | 73,731 | 485,887 |
Ingles Markets, Inc., Class A | 29,659 | 1,063,572 |
Natural Grocers by Vitamin Cottage, Inc. | 19,294 | 205,288 |
Performance Food Group Co. * | 271,491 | 9,124,812 |
PriceSmart, Inc. | 47,268 | 3,261,492 |
Rite Aid Corp. * | 113,787 | 1,040,013 |
SpartanNash, Co. | 73,790 | 1,358,474 |
The Andersons, Inc. | 64,749 | 1,404,406 |
The Chefs' Warehouse, Inc. * | 62,684 | 847,488 |
United Natural Foods, Inc. * | 112,437 | 1,638,207 |
Village Super Market, Inc., Class A | 18,142 | 410,916 |
Weis Markets, Inc. | 19,824 | 900,208 |
32,608,116 | ||
Food, Beverage & Tobacco 1.9% | ||
Alico, Inc. | 11,041 | 318,864 |
B&G Foods, Inc. (a) | 131,907 | 3,503,450 |
Bridgford Foods Corp. * | 3,608 | 65,846 |
Cal-Maine Foods, Inc. * | 65,125 | 2,497,544 |
Calavo Growers, Inc. | 34,224 | 2,297,457 |
Celsius Holdings, Inc. * | 71,412 | 1,436,095 |
Coca-Cola Consolidated, Inc. | 9,777 | 2,238,444 |
Darling Ingredients, Inc. * | 333,575 | 14,343,725 |
Farmer Brothers Co. * | 34,576 | 119,979 |
Fresh Del Monte Produce, Inc. | 64,629 | 1,391,462 |
Freshpet, Inc. * | 80,262 | 9,189,999 |
Hostess Brands, Inc. * | 254,137 | 3,212,292 |
J&J Snack Foods Corp. | 30,974 | 4,199,145 |
John B. Sanfilippo & Son, Inc. | 18,290 | 1,330,780 |
Lancaster Colony Corp. | 39,289 | 6,527,475 |
Landec Corp. * | 54,529 | 524,024 |
Limoneira Co. | 33,787 | 467,274 |
MGP Ingredients, Inc. | 26,647 | 1,119,707 |
National Beverage Corp. * | 24,577 | 1,924,133 |
NewAge, Inc. *(a) | 189,855 | 444,261 |
Primo Water Corp. | 323,453 | 4,052,866 |
Sanderson Farms, Inc. | 41,735 | 5,340,828 |
Seneca Foods Corp., Class A * | 13,656 | 503,224 |
The Simply Good Foods Co. * | 176,183 | 3,312,240 |
Tootsie Roll Industries, Inc. | 33,394 | 997,813 |
Turning Point Brands, Inc. | 24,575 | 920,825 |
Universal Corp. | 50,474 | 2,011,389 |
Vector Group Ltd. | 290,037 | 2,665,440 |
Vital Farms, Inc. * | 21,242 | 734,124 |
77,690,705 | ||
Health Care Equipment & Services 7.5% | ||
1Life Healthcare, Inc. * | 162,671 | 4,588,949 |
Accelerate Diagnostics, Inc. *(a) | 64,362 | 606,290 |
Accolade, Inc. * | 24,131 | 845,068 |
Accuray, Inc. * | 187,454 | 545,491 |
Acutus Medical, Inc. * | 20,390 | 466,319 |
AdaptHealth Corp. * | 51,892 | 1,416,652 |
Addus HomeCare Corp. * | 28,712 | 2,801,430 |
Allscripts Healthcare Solutions, Inc. * | 333,896 | 3,365,672 |
Alphatec Holdings, Inc. * | 92,651 | 791,240 |
American Renal Associates Holdings, Inc. * | 29,498 | 338,932 |
AMN Healthcare Services, Inc. * | 96,647 | 6,309,116 |
Security | Number of Shares | Value ($) |
AngioDynamics, Inc. * | 74,885 | 774,311 |
Antares Pharma, Inc. * | 340,518 | 929,614 |
Apollo Medical Holdings, Inc. * | 41,014 | 707,902 |
Apyx Medical Corp. * | 68,932 | 414,971 |
Aspira Women's Health, Inc. *(a) | 164,562 | 620,399 |
AtriCure, Inc. * | 90,809 | 3,138,359 |
Atrion Corp. | 2,937 | 1,765,578 |
Avalon GloboCare Corp. *(a) | 44,971 | 50,368 |
Avanos Medical, Inc. * | 98,404 | 3,478,581 |
AxoGen, Inc. * | 75,061 | 946,519 |
Axonics Modulation Technologies, Inc. * | 62,896 | 2,949,193 |
Bellerophon Therapeutics, Inc. * | 9,386 | 79,124 |
Beyond Air, Inc. *(a) | 28,160 | 147,558 |
BioLife Solutions, Inc. * | 28,523 | 818,895 |
BioSig Technologies, Inc. *(a) | 49,912 | 157,722 |
BioTelemetry, Inc. * | 69,353 | 2,953,051 |
Brookdale Senior Living, Inc. * | 381,618 | 1,121,957 |
Cantel Medical Corp. | 78,413 | 3,751,278 |
Cardiovascular Systems, Inc. * | 80,296 | 2,862,552 |
Castle Biosciences, Inc. * | 24,361 | 1,131,081 |
Cerus Corp. * | 340,864 | 1,789,536 |
Chembio Diagnostics, Inc. *(a) | 41,983 | 198,999 |
Co-Diagnostics, Inc. *(a) | 55,110 | 739,025 |
Community Health Systems, Inc. * | 175,090 | 1,092,562 |
Computer Programs & Systems, Inc. | 26,742 | 745,834 |
CONMED Corp. | 56,241 | 4,385,111 |
CorVel Corp. * | 18,447 | 1,682,735 |
Covetrus, Inc. * | 203,097 | 5,014,465 |
Cross Country Healthcare, Inc. * | 74,694 | 586,348 |
CryoLife, Inc. * | 76,551 | 1,282,995 |
CryoPort, Inc. * | 70,878 | 2,845,043 |
Cutera, Inc. * | 36,100 | 683,373 |
CytoSorbents Corp. * | 85,238 | 652,071 |
Electromed, Inc. * | 14,954 | 124,268 |
Enzo Biochem, Inc. * | 92,538 | 168,419 |
Evolent Health, Inc., Class A * | 156,948 | 1,560,063 |
Exagen, Inc. * | 10,253 | 146,208 |
Five Star Senior Living, Inc. * | 40,592 | 185,505 |
FONAR Corp. * | 12,750 | 250,410 |
Fulgent Genetics, Inc. * | 20,097 | 653,755 |
GenMark Diagnostics, Inc. * | 144,118 | 1,761,122 |
Glaukos Corp. * | 88,360 | 4,941,091 |
Hanger, Inc. * | 76,959 | 1,344,474 |
Health Catalyst, Inc. * | 69,865 | 2,408,945 |
HealthEquity, Inc. * | 156,090 | 8,037,074 |
HealthStream, Inc. * | 53,672 | 982,198 |
Heska Corp. * | 14,475 | 1,698,352 |
HMS Holdings Corp. * | 182,421 | 4,856,047 |
ICAD, Inc. * | 41,208 | 402,190 |
Inari Medical, Inc. * | 15,952 | 1,056,022 |
InfuSystem Holdings, Inc. * | 29,706 | 365,978 |
Inogen, Inc. * | 38,302 | 1,118,801 |
Inovalon Holdings, Inc., Class A * | 152,596 | 2,897,798 |
Inspire Medical Systems, Inc. * | 54,207 | 6,473,942 |
Integer Holdings Corp. * | 67,675 | 3,955,604 |
IntriCon Corp. * | 16,915 | 211,438 |
Invacare Corp. | 68,819 | 558,122 |
iRadimed Corp. * | 12,445 | 281,879 |
iRhythm Technologies, Inc. * | 56,832 | 12,017,126 |
Lantheus Holdings, Inc. * | 137,994 | 1,498,615 |
LeMaitre Vascular, Inc. | 34,433 | 1,118,384 |
LENSAR, Inc. * | 17,578 | 171,561 |
LHC Group, Inc. * | 62,938 | 13,629,224 |
LivaNova plc * | 101,121 | 5,090,431 |
Magellan Health, Inc. * | 49,024 | 3,542,965 |
MEDNAX, Inc. * | 155,011 | 1,976,390 |
Meridian Bioscience, Inc. * | 88,019 | 1,509,526 |
Merit Medical Systems, Inc. * | 112,169 | 5,614,058 |
Security | Number of Shares | Value ($) |
Mesa Laboratories, Inc. | 9,825 | 2,568,353 |
Milestone Scientific, Inc. *(a) | 88,418 | 136,164 |
Misonix, Inc. * | 24,975 | 283,716 |
NantHealth, Inc. *(a) | 58,065 | 116,711 |
National HealthCare Corp. | 26,084 | 1,651,117 |
National Research Corp. | 28,069 | 1,453,974 |
Natus Medical, Inc. * | 69,941 | 1,273,626 |
Nemaura Medical, Inc. * | 14,458 | 51,326 |
Neogen Corp. * | 109,414 | 7,630,532 |
Nevro Corp. * | 69,617 | 10,387,553 |
NextGen Healthcare, Inc. * | 115,647 | 1,572,799 |
NuVasive, Inc. * | 106,440 | 4,729,129 |
Omnicell, Inc. * | 87,973 | 7,614,063 |
Ontrak, Inc. *(a) | 16,634 | 1,018,666 |
OptimizeRx Corp. * | 29,950 | 593,010 |
Option Care Health, Inc. * | 91,235 | 1,216,163 |
OraSure Technologies, Inc. * | 147,676 | 2,206,279 |
Orthofix Medical, Inc. * | 38,815 | 1,213,357 |
OrthoPediatrics Corp. * | 27,199 | 1,213,075 |
Owens & Minor, Inc. | 130,524 | 3,278,763 |
Patterson Cos., Inc. | 175,588 | 4,367,752 |
PAVmed, Inc. *(a) | 77,257 | 138,290 |
PetIQ, Inc. * | 43,714 | 1,248,472 |
Phreesia, Inc. * | 59,442 | 2,197,571 |
Progenity, Inc. * | 7,029 | 35,075 |
Progyny, Inc. * | 55,271 | 1,346,954 |
Pulse Biosciences, Inc. *(a) | 28,294 | 342,640 |
Quotient Ltd. * | 119,770 | 565,314 |
R1 RCM, Inc. * | 220,946 | 3,959,352 |
RadNet, Inc. * | 89,749 | 1,302,258 |
Repro-Med Systems, Inc. * | 55,928 | 308,723 |
Retractable Technologies, Inc. * | 28,557 | 209,608 |
Rockwell Medical, Inc. * | 148,170 | 126,300 |
Schrodinger, Inc. * | 60,664 | 2,959,190 |
SeaSpine Holdings Corp. * | 54,778 | 698,967 |
Select Medical Holdings Corp. * | 224,777 | 4,715,822 |
Sharps Compliance Corp. * | 30,750 | 183,270 |
Shockwave Medical, Inc. * | 59,077 | 4,036,141 |
SI-BONE, Inc. * | 52,752 | 1,106,209 |
Sientra, Inc. * | 94,248 | 397,727 |
Silk Road Medical, Inc. * | 55,624 | 3,370,814 |
Simulations Plus, Inc. | 29,258 | 1,896,504 |
Soliton, Inc. *(a) | 12,645 | 90,538 |
STAAR Surgical Co. * | 94,884 | 6,879,090 |
Stereotaxis, Inc. * | 90,274 | 285,266 |
Surgalign Holdings, Inc. * | 122,511 | 213,169 |
Surgery Partners, Inc. * | 46,637 | 1,017,619 |
Surmodics, Inc. * | 27,534 | 1,011,875 |
Tabula Rasa HealthCare, Inc. * | 42,573 | 1,470,471 |
Tactile Systems Technology, Inc. * | 38,187 | 1,396,881 |
Tela Bio, Inc. * | 14,201 | 215,287 |
Tenet Healthcare Corp. * | 216,411 | 5,310,726 |
The Ensign Group, Inc. | 105,952 | 6,234,216 |
The Joint Corp. * | 27,648 | 518,124 |
The Pennant Group, Inc. * | 52,987 | 2,207,438 |
The Providence Service Corp. * | 25,138 | 2,954,972 |
Tivity Health, Inc. * | 90,080 | 1,238,600 |
TransMedics Group, Inc. * | 52,158 | 624,853 |
Triple-S Management Corp., Class B * | 47,096 | 872,218 |
U.S. Physical Therapy, Inc. | 26,365 | 2,091,535 |
Utah Medical Products, Inc. | 7,102 | 589,466 |
Vapotherm, Inc. * | 40,373 | 1,209,171 |
Varex Imaging Corp. * | 78,883 | 1,057,032 |
Venus Concept, Inc. *(a) | 39,646 | 83,653 |
Viemed Healthcare, Inc. * | 72,024 | 576,912 |
ViewRay, Inc. * | 231,671 | 688,063 |
Vocera Communications, Inc. * | 66,469 | 2,178,854 |
VolitionRX Ltd. *(a) | 56,768 | 168,601 |
Security | Number of Shares | Value ($) |
Wright Medical Group N.V. * | 266,888 | 8,164,104 |
Zynex, Inc. * | 38,717 | 495,965 |
300,746,282 | ||
Household & Personal Products 0.6% | ||
BellRing Brands, Inc., Class A * | 82,813 | 1,514,650 |
Central Garden & Pet Co. * | 20,061 | 781,577 |
Central Garden & Pet Co., Class A * | 82,156 | 2,907,501 |
Edgewell Personal Care Co. * | 112,645 | 2,953,552 |
elf Beauty, Inc. * | 93,913 | 1,903,616 |
Inter Parfums, Inc. | 36,976 | 1,518,234 |
Lifevantage Corp. * | 28,080 | 310,284 |
Medifast, Inc. | 23,379 | 3,284,516 |
Nature's Sunshine Products, Inc. * | 18,214 | 189,790 |
Oil-Dri Corp. of America | 10,539 | 360,012 |
Revlon, Inc., Class A *(a) | 14,442 | 59,212 |
USANA Health Sciences, Inc. * | 24,059 | 1,820,063 |
Veru, Inc. * | 106,971 | 269,567 |
WD-40 Co. | 28,260 | 6,877,919 |
24,750,493 | ||
Insurance 2.4% | ||
Ambac Financial Group, Inc. * | 94,138 | 1,156,015 |
American Equity Investment Life Holding Co. | 187,654 | 4,657,572 |
AMERISAFE, Inc. | 39,827 | 2,348,996 |
Argo Group International Holdings Ltd. | 67,468 | 2,407,258 |
BRP Group, Inc., Class A * | 70,078 | 1,786,989 |
Citizens, Inc. * | 103,991 | 600,028 |
CNO Financial Group, Inc. | 292,741 | 5,196,153 |
Crawford & Co., Class A | 34,321 | 219,654 |
Donegal Group, Inc., Class A | 22,154 | 321,455 |
eHealth, Inc. * | 52,735 | 3,539,046 |
Employers Holdings, Inc. | 59,810 | 1,914,518 |
Enstar Group Ltd. * | 24,879 | 4,275,954 |
FBL Financial Group, Inc., Class A | 19,958 | 991,713 |
FedNat Holding Co. | 26,577 | 136,340 |
Genworth Financial, Inc., Class A * | 1,048,571 | 4,120,884 |
Goosehead Insurance, Inc., Class A | 26,827 | 3,287,381 |
Greenlight Capital Re Ltd., Class A * | 57,682 | 389,354 |
HCI Group, Inc. | 12,745 | 598,760 |
Heritage Insurance Holdings, Inc. | 52,082 | 491,654 |
Horace Mann Educators Corp. | 85,592 | 2,902,425 |
Independence Holding Co. | 9,712 | 367,308 |
Investors Title Co. | 2,638 | 352,226 |
James River Group Holdings Ltd. | 61,666 | 2,881,652 |
Kinsale Capital Group, Inc. | 43,865 | 8,223,372 |
MBIA, Inc. * | 110,416 | 630,475 |
National General Holdings Corp. | 141,207 | 4,796,802 |
National Western Life Group, Inc., Class A | 5,330 | 904,128 |
NI Holdings, Inc. * | 19,067 | 318,610 |
Palomar Holdings, Inc. * | 41,915 | 3,737,561 |
ProAssurance Corp. | 111,408 | 1,719,025 |
ProSight Global, Inc. * | 18,794 | 222,333 |
Protective Insurance Corp., Class B | 19,116 | 251,375 |
RLI Corp. | 82,062 | 7,114,775 |
Safety Insurance Group, Inc. | 30,070 | 2,104,900 |
Selective Insurance Group, Inc. | 122,526 | 6,378,704 |
Selectquote, Inc. * | 66,025 | 1,136,950 |
State Auto Financial Corp. | 36,998 | 456,555 |
Stewart Information Services Corp. | 54,653 | 2,316,741 |
Third Point Reinsurance Ltd. * | 167,289 | 1,301,508 |
Tiptree, Inc. | 49,321 | 240,193 |
Trean Insurance Group, Inc. * | 24,794 | 269,015 |
Trupanion, Inc. * | 61,510 | 4,400,425 |
United Fire Group, Inc. | 43,482 | 893,120 |
Security | Number of Shares | Value ($) |
United Insurance Holdings Corp. | 40,786 | 179,051 |
Universal Insurance Holdings, Inc. | 57,472 | 716,676 |
Vericity, Inc. | 3,971 | 41,775 |
Watford Holdings Ltd. * | 35,579 | 1,280,844 |
94,578,248 | ||
Materials 4.2% | ||
Advanced Emissions Solutions, Inc. | 34,706 | 154,442 |
AdvanSix, Inc. * | 56,910 | 866,170 |
AgroFresh Solutions, Inc. * | 63,989 | 131,817 |
Alcoa Corp. * | 387,662 | 5,008,593 |
Allegheny Technologies, Inc. * | 263,760 | 2,429,230 |
American Vanguard Corp. | 59,326 | 766,492 |
Amyris, Inc. * | 221,318 | 553,295 |
Arconic Corp. * | 205,893 | 4,476,114 |
Avient Corp. | 189,229 | 5,879,345 |
Balchem Corp. | 66,609 | 6,657,570 |
Boise Cascade Co. | 81,077 | 3,111,735 |
Caledonia Mining Corp. plc | 22,971 | 375,116 |
Carpenter Technology Corp. | 98,694 | 1,725,171 |
Century Aluminum Co. * | 104,992 | 690,847 |
Chase Corp. | 15,340 | 1,459,754 |
Clearwater Paper Corp. * | 33,431 | 1,241,962 |
Cleveland-Cliffs, Inc. | 817,605 | 6,769,769 |
Coeur Mining, Inc. * | 500,755 | 3,540,338 |
Commercial Metals Co. | 246,287 | 5,085,827 |
Compass Minerals International, Inc. | 70,671 | 4,267,115 |
Domtar Corp. | 114,240 | 2,728,051 |
Ferro Corp. * | 170,177 | 2,188,476 |
Ferroglobe Representation and Warranty Insurance Trust *(b) | 108,500 | — |
Forterra, Inc. * | 39,759 | 518,855 |
FutureFuel Corp. | 53,029 | 630,515 |
GCP Applied Technologies, Inc. * | 101,606 | 2,216,027 |
Glatfelter Corp. | 91,064 | 1,299,483 |
Gold Resource Corp. | 135,632 | 371,632 |
Greif, Inc., Class A | 53,389 | 2,167,060 |
Greif, Inc., Class B | 12,437 | 537,900 |
H.B. Fuller Co. | 106,870 | 4,835,867 |
Hawkins, Inc. | 20,128 | 940,179 |
Haynes International, Inc. | 25,483 | 413,079 |
Hecla Mining Co. | 1,081,165 | 4,951,736 |
Ingevity Corp. * | 85,952 | 4,717,046 |
Innospec, Inc. | 50,575 | 3,345,030 |
Intrepid Potash, Inc. * | 20,463 | 204,221 |
Kaiser Aluminum Corp. | 32,678 | 2,056,427 |
Koppers Holdings, Inc. * | 42,699 | 957,739 |
Kraton Corp. * | 64,840 | 1,834,972 |
Kronos Worldwide, Inc. | 46,068 | 613,626 |
Livent Corp. * | 304,965 | 3,278,374 |
Louisiana-Pacific Corp. | 234,221 | 6,694,036 |
Marrone Bio Innovations, Inc. *(a) | 144,843 | 159,327 |
Materion Corp. | 42,202 | 2,160,320 |
Minerals Technologies, Inc. | 70,831 | 3,873,747 |
Myers Industries, Inc. | 74,575 | 1,069,406 |
Neenah, Inc. | 34,872 | 1,312,233 |
Novagold Resources, Inc. * | 492,332 | 5,100,560 |
O-I Glass, Inc. | 325,799 | 3,072,285 |
Olympic Steel, Inc. | 19,559 | 223,168 |
Orion Engineered Carbons S.A. | 125,314 | 1,838,356 |
PQ Group Holdings, Inc. * | 79,340 | 917,170 |
Quaker Chemical Corp. | 27,525 | 5,251,495 |
Ranpak Holdings Corp. * | 60,191 | 513,429 |
Rayonier Advanced Materials, Inc. * | 128,600 | 441,098 |
Ryerson Holding Corp. * | 34,841 | 274,199 |
Schnitzer Steel Industries, Inc., Class A | 53,628 | 1,126,188 |
Schweitzer-Mauduit International, Inc. | 64,554 | 2,143,193 |
Security | Number of Shares | Value ($) |
Sensient Technologies Corp. | 87,781 | 5,743,511 |
Stepan Co. | 44,614 | 5,194,854 |
Summit Materials, Inc., Class A * | 237,010 | 4,192,707 |
SunCoke Energy, Inc. | 172,572 | 602,276 |
TimkenSteel Corp. * | 91,276 | 353,238 |
Trecora Resources * | 48,741 | 288,547 |
Tredegar Corp. | 53,933 | 786,343 |
Trinseo S.A. | 79,566 | 2,531,790 |
Tronox Holdings plc, Class A * | 186,051 | 1,817,718 |
UFP Technologies, Inc. * | 14,279 | 529,180 |
United States Lime & Minerals, Inc. | 4,265 | 395,366 |
United States Steel Corp. | 452,816 | 4,374,203 |
US Concrete, Inc. * | 33,167 | 1,126,351 |
Verso Corp., Class A | 51,262 | 398,818 |
Warrior Met Coal, Inc. | 106,888 | 1,603,320 |
Worthington Industries, Inc. | 75,958 | 3,737,893 |
165,843,322 | ||
Media & Entertainment 1.2% | ||
AMC Entertainment Holdings, Inc., Class A (a) | 107,870 | 254,573 |
AMC Networks, Inc., Class A *(a) | 80,536 | 1,711,390 |
Boston Omaha Corp., Class A * | 27,117 | 433,330 |
Cardlytics, Inc. * | 54,110 | 3,994,400 |
Cargurus, Inc. * | 178,720 | 3,561,890 |
Cars.com, Inc. * | 140,218 | 1,036,211 |
Cinemark Holdings, Inc. | 222,241 | 1,820,154 |
comScore, Inc. * | 125,921 | 251,212 |
Daily Journal Corp. * | 2,334 | 632,981 |
DHI Group, Inc. * | 98,817 | 167,001 |
Emerald Holding, Inc. | 53,276 | 139,583 |
Entercom Communications Corp., Class A | 238,648 | 357,972 |
Entravision Communications Corp., Class A | 124,684 | 228,172 |
Eros STX Global Corp. *(a) | 313,914 | 602,715 |
Eventbrite, Inc., Class A * | 132,043 | 1,218,757 |
EverQuote, Inc., Class A * | 29,158 | 976,501 |
Fluent, Inc. * | 88,752 | 226,318 |
Gaia, Inc. * | 25,331 | 256,856 |
Gannett Co., Inc. * | 271,511 | 312,238 |
Glu Mobile, Inc. * | 303,479 | 2,172,910 |
Gray Television, Inc. * | 180,493 | 2,288,651 |
Hemisphere Media Group, Inc. * | 33,004 | 258,091 |
iHeartMedia, Inc., Class A * | 124,412 | 1,022,667 |
IMAX Corp. * | 102,876 | 1,186,160 |
Liberty Media Corp. - Liberty Braves, Class A * | 20,801 | 430,581 |
Liberty Media Corp. - Liberty Braves, Class C * | 75,439 | 1,544,236 |
Liberty TripAdvisor Holdings, Inc., Class A * | 152,640 | 271,699 |
LiveXLive Media, Inc. *(a) | 95,460 | 191,875 |
Loral Space & Communications, Inc. | 26,389 | 459,432 |
Meredith Corp. | 82,471 | 907,181 |
MSG Networks, Inc., Class A * | 81,943 | 732,570 |
National CineMedia, Inc. | 127,058 | 252,210 |
QuinStreet, Inc. * | 98,343 | 1,573,980 |
Saga Communications, Inc., Class A | 8,051 | 137,028 |
Scholastic Corp. | 60,384 | 1,193,188 |
Sinclair Broadcast Group, Inc., Class A | 91,831 | 1,706,220 |
TechTarget, Inc. * | 48,515 | 2,124,957 |
TEGNA, Inc. | 454,202 | 5,464,050 |
The E.W. Scripps Co., Class A | 116,523 | 1,058,029 |
The Marcus Corp. | 47,126 | 345,433 |
Tribune Publishing Co. | 32,033 | 367,098 |
TrueCar, Inc. * | 220,232 | 960,211 |
Security | Number of Shares | Value ($) |
WideOpenWest, Inc. * | 109,532 | 546,565 |
Yelp, Inc. * | 147,894 | 2,909,075 |
48,286,351 | ||
Pharmaceuticals, Biotechnology & Life Sciences 13.7% | ||
89bio, Inc. * | 13,522 | 313,170 |
Abeona Therapeutics, Inc. * | 128,511 | 137,507 |
AcelRx Pharmaceuticals, Inc. *(a) | 158,971 | 271,840 |
ADMA Biologics, Inc. *(a) | 121,152 | 241,092 |
Adverum Biotechnologies, Inc. * | 180,516 | 1,969,430 |
Aeglea BioTherapeutics, Inc. * | 87,319 | 670,610 |
Aerie Pharmaceuticals, Inc. * | 75,565 | 801,745 |
Affimed N.V. * | 168,666 | 532,985 |
Agenus, Inc. * | 315,208 | 1,163,118 |
Agile Therapeutics, Inc. * | 140,985 | 383,479 |
Akebia Therapeutics, Inc. * | 297,418 | 660,268 |
Akero Therapeutics, Inc. * | 28,122 | 746,639 |
Akouos, Inc. * | 30,110 | 584,435 |
Albireo Pharma, Inc. * | 27,334 | 862,661 |
Alector, Inc. * | 96,241 | 905,628 |
Allakos, Inc. * | 52,271 | 4,972,540 |
Allogene Therapeutics, Inc. * | 112,010 | 3,799,379 |
Allovir, Inc. * | 37,203 | 983,275 |
ALX Oncology Holdings, Inc. * | 19,858 | 784,590 |
AMAG Pharmaceuticals, Inc. * | 64,140 | 880,001 |
Amicus Therapeutics, Inc. * | 526,357 | 9,384,945 |
Amneal Pharmaceuticals, Inc. * | 205,349 | 854,252 |
Amphastar Pharmaceuticals, Inc. * | 75,265 | 1,474,441 |
AnaptysBio, Inc. * | 43,651 | 1,285,958 |
Anavex Life Sciences Corp. *(a) | 110,310 | 650,829 |
ANI Pharmaceuticals, Inc. * | 19,708 | 502,357 |
Anika Therapeutics, Inc. * | 28,986 | 945,523 |
Annexon, Inc. * | 30,586 | 636,495 |
Apellis Pharmaceuticals, Inc. * | 124,182 | 3,961,406 |
Applied Genetic Technologies Corp. * | 50,309 | 259,594 |
Applied Molecular Transport, Inc. *(a) | 25,766 | 757,263 |
Applied Therapeutics, Inc. * | 28,084 | 456,927 |
Aprea Therapeutics, Inc. * | 14,777 | 322,286 |
Aptinyx, Inc. * | 52,911 | 155,029 |
Aquestive Therapeutics, Inc. *(a) | 40,688 | 196,930 |
Aravive, Inc. * | 26,214 | 121,371 |
Arcturus Therapeutics Holdings, Inc. * | 33,255 | 1,798,430 |
Arcus Biosciences, Inc. * | 87,580 | 1,909,244 |
Arcutis Biotherapeutics, Inc. * | 37,542 | 668,998 |
Ardelyx, Inc. * | 150,633 | 769,735 |
Arena Pharmaceuticals, Inc. * | 120,394 | 10,320,174 |
Arrowhead Pharmaceuticals, Inc. * | 207,968 | 11,916,566 |
Arvinas, Inc. * | 60,794 | 1,271,203 |
Assembly Biosciences, Inc. * | 63,817 | 940,663 |
Atara Biotherapeutics, Inc. * | 150,379 | 1,941,393 |
Athenex, Inc. * | 128,871 | 1,469,129 |
Athersys, Inc. * | 355,634 | 622,360 |
Atreca, Inc. Class A * | 58,481 | 781,306 |
Avenue Therapeutics, Inc. * | 14,314 | 44,946 |
AVEO Pharmaceuticals, Inc. * | 45,283 | 245,887 |
Avid Bioservices, Inc. * | 116,714 | 846,176 |
Avidity Biosciences, Inc. * | 34,720 | 858,626 |
Avrobio, Inc. * | 65,339 | 933,041 |
Axcella Health, Inc. * | 31,128 | 131,983 |
Axsome Therapeutics, Inc. * | 57,344 | 3,802,481 |
Aytu BioScience, Inc. * | 49,328 | 46,876 |
Beam Therapeutics, Inc. * | 73,420 | 2,508,761 |
Beyondspring, Inc. * | 30,411 | 448,258 |
BioCryst Pharmaceuticals, Inc. * | 366,970 | 1,401,825 |
BioDelivery Sciences International, Inc. * | 186,272 | 588,620 |
Biohaven Pharmaceutical Holding Co., Ltd. * | 99,570 | 7,712,692 |
Security | Number of Shares | Value ($) |
BioSpecifics Technologies Corp. * | 12,888 | 1,135,433 |
Bioxcel Therapeutics, Inc. * | 24,359 | 1,112,963 |
Black Diamond Therapeutics, Inc. * | 37,545 | 1,183,043 |
Blueprint Medicines Corp. * | 114,616 | 11,722,924 |
BrainStorm Cell Therapeutics, Inc. *(a) | 59,306 | 594,839 |
Bridgebio Pharma, Inc. * | 150,862 | 5,790,084 |
Cabaletta Bio, Inc. * | 25,974 | 300,519 |
Calithera Biosciences, Inc. * | 136,424 | 482,941 |
Calyxt, Inc. * | 19,697 | 63,227 |
Cara Therapeutics, Inc. * | 85,552 | 1,134,420 |
CareDx, Inc. * | 99,485 | 4,879,739 |
CASI Pharmaceuticals, Inc. * | 136,467 | 320,697 |
Cassava Sciences, Inc. * | 47,937 | 393,563 |
Catabasis Pharmaceuticals, Inc. * | 38,952 | 52,196 |
Catalyst Biosciences, Inc. * | 45,527 | 249,488 |
Catalyst Pharmaceuticals, Inc. * | 203,039 | 603,026 |
CEL-SCI Corp. *(a) | 69,425 | 835,183 |
Cellular Biomedicine Group, Inc. * | 25,761 | 463,956 |
Centogene N.V. * | 17,635 | 214,618 |
Cerecor, Inc. * | 74,896 | 154,286 |
Champions Oncology, Inc. * | 15,491 | 136,011 |
Checkmate Pharmaceuticals, Inc. * | 10,379 | 119,255 |
Checkpoint Therapeutics, Inc. * | 93,941 | 205,731 |
ChemoCentryx, Inc. * | 102,672 | 4,928,256 |
Chiasma, Inc. * | 103,716 | 388,935 |
Chimerix, Inc. * | 97,561 | 260,488 |
Chinook Therapeutics, Inc. * | 27,867 | 344,157 |
ChromaDex Corp. * | 83,478 | 376,486 |
Cidara Therapeutics, Inc. * | 71,983 | 187,876 |
Clovis Oncology, Inc. *(a) | 172,316 | 849,518 |
Codexis, Inc. * | 111,489 | 1,483,919 |
Cohbar, Inc. * | 52,717 | 48,299 |
Coherus Biosciences, Inc. * | 120,437 | 2,007,685 |
Collegium Pharmaceutical, Inc. * | 71,361 | 1,272,367 |
Concert Pharmaceuticals, Inc. * | 59,468 | 613,710 |
Constellation Pharmaceuticals, Inc. * | 63,766 | 1,251,089 |
ContraFect Corp. * | 50,703 | 286,472 |
Corbus Pharmaceuticals Holdings, Inc. *(a) | 154,662 | 145,336 |
Corcept Therapeutics, Inc. * | 198,444 | 3,329,890 |
CorMedix, Inc. * | 63,838 | 322,382 |
Cortexyme, Inc. * | 32,699 | 1,565,301 |
Crinetics Pharmaceuticals, Inc. * | 55,688 | 672,711 |
Cue Biopharma, Inc. * | 59,657 | 664,579 |
Cyclerion Therapeutics, Inc. * | 45,202 | 105,773 |
Cymabay Therapeutics, Inc. * | 143,974 | 1,197,864 |
Cytokinetics, Inc. * | 137,854 | 2,118,816 |
CytomX Therapeutics, Inc. * | 92,630 | 613,211 |
Deciphera Pharmaceuticals, Inc. * | 77,412 | 4,495,315 |
Denali Therapeutics, Inc. * | 130,162 | 5,568,330 |
DermTech, Inc. * | 17,455 | 222,726 |
Dicerna Pharmaceuticals, Inc. * | 135,107 | 2,835,896 |
Durect Corp. * | 417,220 | 753,082 |
Dyadic International, Inc. * | 38,993 | 278,410 |
Dynavax Technologies Corp. * | 220,755 | 823,416 |
Eagle Pharmaceuticals, Inc. * | 22,531 | 1,048,142 |
Editas Medicine, Inc. * | 129,796 | 4,015,888 |
Eidos Therapeutics, Inc. * | 22,687 | 1,608,962 |
Eiger BioPharmaceuticals, Inc. * | 57,010 | 506,249 |
Eloxx Pharmaceuticals, Inc. * | 52,081 | 131,765 |
Emergent BioSolutions, Inc. * | 92,489 | 8,321,235 |
Enanta Pharmaceuticals, Inc. * | 39,617 | 1,728,490 |
Endo International plc * | 470,883 | 2,151,935 |
Enochian Biosciences, Inc. *(a) | 29,338 | 89,481 |
Epizyme, Inc. * | 185,441 | 2,292,051 |
Esperion Therapeutics, Inc. *(a) | 53,824 | 1,613,105 |
Eton Pharmaceuticals, Inc. *(a) | 29,513 | 215,150 |
Evelo Biosciences, Inc. *(a) | 41,426 | 164,461 |
Security | Number of Shares | Value ($) |
Evofem Biosciences, Inc. *(a) | 158,939 | 376,685 |
Evolus, Inc. *(a) | 46,888 | 142,071 |
Exicure, Inc. * | 117,725 | 176,588 |
Fate Therapeutics, Inc. * | 148,245 | 6,582,078 |
Fennec Pharmaceuticals, Inc. * | 42,990 | 325,004 |
FibroGen, Inc. * | 174,439 | 6,694,969 |
Five Prime Therapeutics, Inc. * | 57,715 | 263,180 |
Flexion Therapeutics, Inc. * | 90,897 | 1,089,855 |
Fluidigm Corp. * | 146,390 | 840,279 |
Forma Therapeutics Holdings, Inc. * | 33,466 | 1,443,054 |
Fortress Biotech, Inc. * | 130,217 | 286,477 |
Frequency Therapeutics, Inc. * | 52,232 | 1,142,836 |
Fulcrum Therapeutics, Inc. * | 29,679 | 292,635 |
G1 Therapeutics, Inc. * | 70,930 | 779,521 |
Galectin Therapeutics, Inc. *(a) | 77,488 | 196,820 |
Galera Therapeutics, Inc. * | 18,833 | 154,242 |
Generation Bio Co. * | 25,474 | 658,248 |
Genprex, Inc. * | 61,485 | 199,826 |
Geron Corp. * | 596,471 | 1,037,860 |
GlycoMimetics, Inc. * | 76,245 | 213,486 |
Gossamer Bio, Inc. * | 117,630 | 976,329 |
Gritstone Oncology, Inc. * | 64,097 | 174,985 |
Halozyme Therapeutics, Inc. * | 281,212 | 7,873,936 |
Harpoon Therapeutics, Inc. * | 21,493 | 311,004 |
Harrow Health, Inc. * | 45,212 | 215,209 |
Harvard Bioscience, Inc. * | 81,212 | 274,497 |
Heron Therapeutics, Inc. * | 180,870 | 2,949,990 |
Homology Medicines, Inc. * | 69,562 | 735,270 |
Hookipa Pharma, Inc. * | 25,591 | 240,555 |
iBio, Inc. *(a) | 119,844 | 208,529 |
Ideaya Biosciences, Inc. * | 33,069 | 402,450 |
IGM Biosciences, Inc. * | 14,697 | 775,855 |
IMARA, Inc. *(a) | 10,654 | 168,440 |
Immunic, Inc. *(a) | 11,550 | 182,952 |
ImmunoGen, Inc. * | 357,214 | 2,014,687 |
Immunovant, Inc. * | 72,542 | 3,164,282 |
Innoviva, Inc. * | 131,918 | 1,426,034 |
Inovio Pharmaceuticals, Inc. *(a) | 324,779 | 3,199,073 |
Inozyme Pharma, Inc. * | 16,832 | 386,631 |
Insmed, Inc. * | 209,596 | 6,904,092 |
Intellia Therapeutics, Inc. * | 104,091 | 2,491,939 |
Intercept Pharmaceuticals, Inc. * | 53,901 | 1,497,909 |
Intersect ENT, Inc. * | 67,601 | 1,047,815 |
Intra-Cellular Therapies, Inc. * | 135,811 | 3,350,457 |
Invitae Corp. * | 239,134 | 9,376,444 |
Ironwood Pharmaceuticals, Inc. * | 329,681 | 3,257,248 |
iTeos Therapeutics, Inc. * | 22,170 | 504,811 |
IVERIC bio, Inc. * | 166,834 | 987,657 |
Jounce Therapeutics, Inc. * | 34,813 | 289,644 |
Kadmon Holdings, Inc. * | 358,221 | 1,217,951 |
Kala Pharmaceuticals, Inc. *(a) | 83,054 | 548,156 |
Kaleido Biosciences, Inc. *(a) | 24,046 | 146,921 |
KalVista Pharmaceuticals, Inc. * | 27,990 | 481,708 |
Karuna Therapeutics, Inc. * | 32,776 | 2,661,083 |
Karyopharm Therapeutics, Inc. * | 145,788 | 2,160,578 |
Keros Therapeutics, Inc. * | 14,644 | 814,206 |
Kezar Life Sciences, Inc. * | 64,913 | 332,355 |
Kindred Biosciences, Inc. * | 77,623 | 270,904 |
Kiniksa Pharmaceuticals Ltd., Class A * | 55,505 | 869,208 |
Kodiak Sciences, Inc. * | 59,984 | 5,447,147 |
Krystal Biotech, Inc. * | 28,071 | 1,206,772 |
Kura Oncology, Inc. * | 109,626 | 3,425,812 |
La Jolla Pharmaceutical Co. *(a) | 38,945 | 132,413 |
Lannett Co., Inc. * | 65,720 | 422,580 |
Lexicon Pharmaceuticals, Inc. *(a) | 90,397 | 100,341 |
Ligand Pharmaceuticals, Inc. *(a) | 29,783 | 2,455,608 |
Liquidia Technologies, Inc. * | 56,162 | 259,468 |
LogicBio Therapeutics, Inc. * | 25,920 | 143,078 |
Security | Number of Shares | Value ($) |
Luminex Corp. | 89,404 | 1,970,464 |
Lyra Therapeutics, Inc. * | 8,857 | 94,770 |
MacroGenics, Inc. * | 109,704 | 2,129,355 |
Madrigal Pharmaceuticals, Inc. * | 18,195 | 2,315,314 |
Magenta Therapeutics, Inc. * | 42,898 | 270,686 |
MannKind Corp. * | 458,206 | 920,994 |
Marinus Pharmaceuticals, Inc. * | 51,886 | 676,593 |
Marker Therapeutics, Inc. *(a) | 65,513 | 89,098 |
MediciNova, Inc. *(a) | 88,909 | 497,001 |
Medpace Holdings, Inc. * | 56,573 | 6,276,209 |
MEI Pharma, Inc. * | 214,856 | 558,626 |
MeiraGTx Holdings plc * | 42,716 | 545,910 |
Mersana Therapeutics, Inc. * | 110,620 | 1,993,372 |
Minerva Neurosciences, Inc. * | 70,282 | 225,605 |
Mirati Therapeutics, Inc. * | 85,554 | 18,577,196 |
Mirum Pharmaceuticals, Inc. * | 11,078 | 174,479 |
Molecular Templates, Inc. * | 54,925 | 485,537 |
Morphic Holding, Inc. * | 28,009 | 753,722 |
Mustang Bio, Inc. * | 57,729 | 153,848 |
MyoKardia, Inc. * | 105,111 | 23,495,462 |
Myriad Genetics, Inc. * | 148,013 | 1,839,802 |
NanoString Technologies, Inc. * | 78,135 | 2,863,648 |
NantKwest, Inc. *(a) | 65,467 | 491,657 |
Natera, Inc. * | 146,661 | 9,864,419 |
NeoGenomics, Inc. * | 214,636 | 8,420,170 |
Neoleukin Therapeutics, Inc. * | 66,914 | 701,928 |
Neubase Therapeutics, Inc. * | 34,924 | 273,630 |
NeuroBo Pharmaceuticals, Inc. *(a) | 9,221 | 46,289 |
NextCure, Inc. * | 33,370 | 322,354 |
NGM Biopharmaceuticals, Inc. * | 49,467 | 857,758 |
Nkarta, Inc. *(a) | 33,741 | 968,704 |
Novavax, Inc. * | 127,748 | 10,310,541 |
Nurix Therapeutics, Inc. * | 23,046 | 582,833 |
Nymox Pharmaceutical Corp. *(a) | 84,937 | 163,079 |
Ocular Therapeutix, Inc. * | 125,577 | 1,192,981 |
Odonate Therapeutics, Inc. * | 27,614 | 397,918 |
Omeros Corp. *(a) | 122,711 | 1,244,290 |
Oncocyte Corp. * | 130,292 | 192,832 |
OPKO Health, Inc. * | 826,847 | 2,910,501 |
Optinose, Inc. * | 72,404 | 231,693 |
Organogenesis Holdings, Inc. * | 43,636 | 159,271 |
Orgenesis, Inc. * | 38,955 | 176,466 |
ORIC Pharmaceuticals, Inc. * | 17,828 | 383,302 |
Osmotica Pharmaceuticals plc * | 25,694 | 131,810 |
Ovid therapeutics, Inc. * | 88,883 | 454,192 |
Oyster Point Pharma, Inc. * | 12,531 | 248,490 |
Pacific Biosciences of California, Inc. * | 346,568 | 4,543,506 |
Pacira BioSciences, Inc. * | 86,757 | 4,537,391 |
Pandion Therapeutics, Inc. * | 15,440 | 182,346 |
Paratek Pharmaceuticals, Inc. * | 90,747 | 432,863 |
Passage Bio, Inc. * | 28,024 | 471,083 |
PDL BioPharma, Inc. * | 231,664 | 498,078 |
Personalis, Inc. * | 49,217 | 1,217,136 |
PhaseBio Pharmaceuticals, Inc. * | 32,407 | 88,471 |
Phathom Pharmaceuticals, Inc. * | 22,181 | 873,044 |
Phibro Animal Health Corp., Class A | 42,008 | 690,612 |
Pieris Pharmaceuticals, Inc. * | 99,911 | 250,777 |
Pliant Therapeutics, Inc. *(a) | 21,575 | 466,452 |
Poseida Therapeutics, Inc. * | 27,774 | 319,679 |
Precigen, Inc. *(a) | 139,326 | 597,709 |
Precision BioSciences, Inc. * | 96,157 | 606,751 |
Prestige Consumer Healthcare, Inc. * | 104,059 | 3,437,069 |
Prevail Therapeutics, Inc. * | 29,156 | 285,437 |
Protagonist Therapeutics, Inc. * | 62,923 | 1,192,391 |
Protara Therapeutics, Inc. * | 4,343 | 77,913 |
Prothena Corp. plc * | 62,840 | 685,584 |
Provention Bio, Inc. * | 98,830 | 1,172,124 |
PTC Therapeutics, Inc. * | 127,827 | 6,671,291 |
Security | Number of Shares | Value ($) |
Puma Biotechnology, Inc. * | 63,405 | 530,700 |
Quanterix Corp. * | 43,668 | 1,598,685 |
Radius Health, Inc. * | 94,525 | 1,267,580 |
Rapt Therapeutics, Inc. * | 22,811 | 655,588 |
Recro Pharma, Inc. * | 43,109 | 68,543 |
REGENXBIO, Inc. * | 70,808 | 2,036,438 |
Relay Therapeutics, Inc. * | 66,853 | 2,469,550 |
Relmada Therapeutics, Inc. * | 29,728 | 919,487 |
Replimune Group, Inc. * | 43,318 | 1,811,126 |
Retrophin, Inc. * | 101,592 | 2,056,222 |
Revance Therapeutics, Inc. * | 130,732 | 3,383,344 |
REVOLUTION Medicines, Inc. * | 80,154 | 2,419,849 |
Rhythm Pharmaceuticals, Inc. * | 69,890 | 1,479,571 |
Rigel Pharmaceuticals, Inc. * | 352,111 | 873,235 |
Rocket Pharmaceuticals, Inc. * | 70,837 | 1,979,186 |
Rubius Therapeutics, Inc. * | 73,288 | 310,008 |
Sangamo Therapeutics, Inc. * | 239,414 | 2,475,541 |
Satsuma Pharmaceuticals, Inc. * | 19,799 | 70,484 |
Savara, Inc. * | 100,055 | 104,057 |
Scholar Rock Holding Corp. * | 46,530 | 1,810,017 |
scPharmaceuticals, Inc. * | 14,397 | 124,102 |
Selecta Biosciences, Inc. * | 138,029 | 408,566 |
Seres Therapeutics, Inc. * | 110,335 | 3,077,243 |
SIGA Technologies, Inc. * | 108,383 | 692,567 |
Soleno Therapeutics, Inc. * | 123,492 | 214,876 |
Solid Biosciences, Inc. * | 53,275 | 174,209 |
Sorrento Therapeutics, Inc. *(a) | 458,080 | 3,179,075 |
Spectrum Pharmaceuticals, Inc. * | 299,527 | 1,027,378 |
Spero Therapeutics, Inc. * | 31,050 | 407,066 |
SpringWorks Therapeutics, Inc. * | 44,054 | 2,554,691 |
Stoke Therapeutics, Inc. * | 25,409 | 975,452 |
Strongbridge Biopharma plc * | 75,231 | 146,700 |
Supernus Pharmaceuticals, Inc. * | 101,407 | 1,861,833 |
Sutro Biopharma, Inc. * | 53,781 | 691,624 |
Syndax Pharmaceuticals, Inc. * | 55,513 | 966,481 |
Syros Pharmaceuticals, Inc. * | 85,580 | 570,819 |
TCR2 Therapeutics, Inc. * | 52,769 | 1,037,966 |
TG Therapeutics, Inc. * | 229,927 | 5,810,255 |
TherapeuticsMD, Inc. *(a) | 495,198 | 604,142 |
Theravance Biopharma, Inc. * | 95,592 | 1,807,645 |
Translate Bio, Inc. * | 141,640 | 1,817,241 |
Tricida, Inc. * | 57,690 | 324,795 |
Turning Point Therapeutics, Inc. * | 75,098 | 6,923,285 |
Twist Bioscience Corp. * | 67,693 | 5,187,992 |
Tyme Technologies, Inc. * | 141,257 | 122,625 |
Ultragenyx Pharmaceutical, Inc. * | 119,279 | 11,987,539 |
UNITY Biotechnology, Inc. * | 69,198 | 267,796 |
UroGen Pharma Ltd. * | 39,970 | 900,124 |
Vanda Pharmaceuticals, Inc. * | 111,797 | 1,195,110 |
Vaxart, Inc. *(a) | 108,886 | 535,719 |
Vaxcyte, Inc. * | 37,819 | 1,413,296 |
VBI Vaccines, Inc. *(a) | 356,970 | 838,879 |
Veracyte, Inc. * | 119,003 | 4,124,644 |
Verastem, Inc. * | 352,681 | 423,217 |
Vericel Corp. * | 93,560 | 1,733,667 |
Verrica Pharmaceuticals, Inc. *(a) | 24,753 | 183,420 |
Viela Bio, Inc. * | 44,948 | 1,434,291 |
Viking Therapeutics, Inc. * | 135,284 | 761,649 |
Vir Biotechnology, Inc. * | 111,356 | 3,501,033 |
Voyager Therapeutics, Inc. * | 53,791 | 571,798 |
vTv Therapeutics, Inc., Class A *(a) | 20,946 | 35,608 |
VYNE Therapeutics, Inc. * | 301,398 | 482,237 |
WaVe Life Sciences Ltd. * | 50,850 | 359,510 |
X4 Pharmaceuticals, Inc. * | 31,710 | 182,015 |
XBiotech, Inc. *(a) | 29,685 | 507,910 |
Xencor, Inc. * | 114,591 | 4,398,003 |
Xeris Pharmaceuticals, Inc. *(a) | 95,395 | 451,218 |
XOMA Corp. *(a) | 12,074 | 299,556 |
Security | Number of Shares | Value ($) |
Y-mAbs Therapeutics, Inc. * | 62,253 | 2,660,693 |
Zentalis Pharmaceuticals, Inc. * | 23,927 | 947,270 |
ZIOPHARM Oncology, Inc. * | 443,321 | 926,541 |
Zogenix, Inc. * | 115,533 | 2,463,164 |
544,583,701 | ||
Real Estate 6.3% | ||
Acadia Realty Trust | 176,409 | 1,645,896 |
Agree Realty Corp. | 110,381 | 6,851,349 |
Alexander & Baldwin, Inc. | 149,885 | 1,926,022 |
Alexander's, Inc. | 4,459 | 1,084,384 |
Alpine Income Property Trust, Inc. | 13,276 | 185,200 |
Altisource Portfolio Solutions S.A. * | 9,847 | 109,597 |
American Assets Trust, Inc. | 104,687 | 2,191,099 |
American Finance Trust, Inc. | 227,053 | 1,308,961 |
American Realty Investors, Inc. * | 2,246 | 18,215 |
Armada Hoffler Properties, Inc. | 118,949 | 1,071,730 |
Bluerock Residential Growth REIT, Inc. | 50,457 | 436,958 |
BRT Apartments Corp. | 21,140 | 263,193 |
CareTrust REIT, Inc. | 197,643 | 3,379,695 |
CatchMark Timber Trust, Inc., Class A | 101,388 | 881,062 |
Chatham Lodging Trust | 95,116 | 699,103 |
CIM Commercial Trust Corp. | 23,639 | 189,112 |
City Office REIT, Inc. | 89,102 | 563,125 |
Clipper Realty, Inc. | 29,153 | 163,840 |
Colony Capital, Inc. | 998,542 | 3,554,809 |
Columbia Property Trust, Inc. | 238,144 | 2,519,564 |
Community Healthcare Trust, Inc. | 44,922 | 2,079,889 |
CoreCivic, Inc. | 248,775 | 1,594,648 |
CorEnergy Infrastructure Trust, Inc. | 27,209 | 127,338 |
CorePoint Lodging, Inc. | 81,963 | 391,783 |
CTO Realty Growth, Inc. | 9,754 | 430,444 |
Cushman & Wakefield plc * | 229,712 | 2,692,225 |
DiamondRock Hospitality Co. | 415,257 | 2,051,370 |
Diversified Healthcare Trust | 493,028 | 1,427,316 |
Easterly Government Properties, Inc. | 166,122 | 3,471,950 |
EastGroup Properties, Inc. | 80,123 | 10,662,769 |
Essential Properties Realty Trust, Inc. | 191,083 | 3,156,691 |
eXp World Holdings, Inc. * | 50,660 | 2,147,477 |
Farmland Partners, Inc. | 53,062 | 341,719 |
Fathom Holdings, Inc. * | 9,786 | 183,585 |
Forestar Group, Inc. * | 34,305 | 570,835 |
Four Corners Property Trust, Inc. | 145,560 | 3,688,490 |
Franklin Street Properties Corp. | 215,120 | 903,504 |
Front Yard Residential Corp. | 104,134 | 1,394,354 |
FRP Holdings, Inc. * | 13,657 | 552,562 |
Getty Realty Corp. | 70,780 | 1,860,098 |
Gladstone Commercial Corp. | 70,020 | 1,137,825 |
Gladstone Land Corp. | 40,887 | 567,103 |
Global Medical REIT, Inc. | 86,911 | 1,080,304 |
Global Net Lease, Inc. | 186,346 | 2,651,704 |
Griffin Industrial Realty, Inc. | 5,196 | 275,648 |
Healthcare Realty Trust, Inc. | 280,339 | 7,793,424 |
Hersha Hospitality Trust | 69,209 | 339,124 |
Independence Realty Trust, Inc. | 197,161 | 2,395,506 |
Industrial Logistics Properties Trust | 134,167 | 2,573,323 |
Innovative Industrial Properties, Inc. | 44,022 | 5,134,286 |
Investors Real Estate Trust | 26,672 | 1,797,960 |
iStar, Inc. | 151,596 | 1,788,833 |
Jernigan Capital, Inc. | 46,294 | 800,423 |
Kennedy-Wilson Holdings, Inc. | 252,783 | 3,331,680 |
Kite Realty Group Trust | 172,731 | 1,789,493 |
Lexington Realty Trust | 566,046 | 5,620,837 |
LTC Properties, Inc. | 80,347 | 2,652,254 |
Mack-Cali Realty Corp. | 180,529 | 1,984,014 |
Marcus & Millichap, Inc. * | 48,388 | 1,511,157 |
Maui Land & Pineapple Co., Inc. * | 14,430 | 145,599 |
Security | Number of Shares | Value ($) |
Monmouth Real Estate Investment Corp. | 197,574 | 2,736,400 |
National Health Investors, Inc. | 89,163 | 4,997,586 |
National Storage Affiliates Trust | 129,688 | 4,395,126 |
NETSTREIT Corp. | 24,820 | 435,343 |
New Senior Investment Group, Inc. | 169,753 | 663,734 |
Newmark Group, Inc., Class A | 296,825 | 1,405,466 |
NexPoint Residential Trust, Inc. | 45,107 | 1,999,142 |
Office Properties Income Trust | 99,506 | 1,831,905 |
One Liberty Properties, Inc. | 33,250 | 513,047 |
Pebblebrook Hotel Trust | 269,011 | 3,222,752 |
Physicians Realty Trust | 432,288 | 7,288,376 |
Piedmont Office Realty Trust, Inc., Class A | 261,148 | 2,982,310 |
Plymouth Industrial REIT, Inc. | 32,953 | 418,833 |
PotlatchDeltic Corp. | 135,782 | 5,641,742 |
Preferred Apartment Communities, Inc., Class A | 98,914 | 534,136 |
PS Business Parks, Inc. | 41,658 | 4,750,262 |
QTS Realty Trust, Inc., Class A | 127,017 | 7,812,816 |
Rafael Holdings, Inc., Class B * | 18,525 | 303,810 |
RE/MAX Holdings, Inc., Class A | 36,996 | 1,196,451 |
Realogy Holdings Corp. * | 238,303 | 2,659,461 |
Redfin Corp. * | 200,903 | 8,391,718 |
Retail Opportunity Investments Corp. | 240,641 | 2,341,437 |
Retail Properties of America, Inc., Class A | 445,973 | 2,336,899 |
Retail Value, Inc. | 33,771 | 422,137 |
RLJ Lodging Trust | 339,044 | 2,773,380 |
RPT Realty | 167,280 | 817,999 |
Ryman Hospitality Properties, Inc. | 104,388 | 4,159,862 |
Sabra Health Care REIT, Inc. | 425,591 | 5,600,778 |
Safehold, Inc. | 35,955 | 2,474,423 |
Saul Centers, Inc. | 24,580 | 608,355 |
Seritage Growth Properties, Class A *(a) | 70,404 | 896,243 |
Service Properties Trust | 338,328 | 2,439,345 |
SITE Centers Corp. | 318,506 | 2,169,026 |
STAG Industrial, Inc. | 310,776 | 9,671,349 |
Stratus Properties, Inc. * | 12,054 | 257,594 |
Summit Hotel Properties, Inc. | 214,992 | 1,135,158 |
Sunstone Hotel Investors, Inc. | 444,268 | 3,296,469 |
Tanger Factory Outlet Centers, Inc. (a) | 188,399 | 1,166,190 |
Tejon Ranch Co. * | 42,813 | 586,966 |
Terreno Realty Corp. | 138,312 | 7,784,199 |
The GEO Group, Inc. | 243,203 | 2,154,779 |
The Macerich Co. (a) | 311,304 | 2,166,676 |
The RMR Group, Inc., Class A | 31,615 | 842,856 |
The St. Joe Co. * | 68,278 | 1,846,237 |
Transcontinental Realty Investors, Inc. * | 2,895 | 63,690 |
UMH Properties, Inc. | 76,001 | 1,035,894 |
Uniti Group, Inc. | 399,737 | 3,525,680 |
Universal Health Realty Income Trust | 26,700 | 1,427,649 |
Urban Edge Properties | 241,376 | 2,268,934 |
Urstadt Biddle Properties, Inc., Class A | 61,604 | 585,854 |
Washington Real Estate Investment Trust | 170,648 | 2,982,927 |
Whitestone REIT | 82,465 | 491,491 |
Xenia Hotels & Resorts, Inc. | 235,593 | 1,941,286 |
250,594,636 | ||
Retailing 3.8% | ||
1-800-Flowers.com, Inc., Class A * | 51,764 | 1,026,480 |
Aaron's Holdings Co., Inc. | 139,766 | 7,304,171 |
Abercrombie & Fitch Co., Class A | 129,391 | 1,839,940 |
America's Car-Mart, Inc. * | 13,134 | 1,136,354 |
American Eagle Outfitters, Inc. | 311,981 | 4,277,259 |
Asbury Automotive Group, Inc. * | 39,834 | 4,102,105 |
At Home Group, Inc. * | 111,505 | 1,816,416 |
Bed Bath & Beyond, Inc. | 262,075 | 5,189,085 |
Big Lots, Inc. | 81,173 | 3,863,835 |
Boot Barn Holdings, Inc. * | 59,330 | 1,899,747 |
Security | Number of Shares | Value ($) |
Caleres, Inc. | 76,831 | 590,062 |
Camping World Holdings, Inc., Class A | 68,195 | 1,803,076 |
CarParts.com, Inc. * | 43,424 | 551,051 |
Chico's FAS, Inc. | 247,465 | 264,788 |
Citi Trends, Inc. | 20,632 | 538,701 |
Conn's, Inc. * | 36,371 | 340,796 |
Core-Mark Holding Co., Inc. | 92,855 | 2,539,584 |
Designer Brands, Inc., Class A | 127,669 | 552,807 |
Dillard’s, Inc., Class A (a) | 15,670 | 700,919 |
Duluth Holdings, Inc., Class B * | 22,416 | 343,861 |
Envela Corp. * | 16,555 | 66,882 |
Express, Inc. * | 118,290 | 72,275 |
Funko, Inc., Class A * | 48,551 | 307,813 |
GameStop Corp., Class A *(a) | 118,851 | 1,244,370 |
Genesco, Inc. * | 29,427 | 521,446 |
Greenlane Holdings, Inc., Class A * | 21,662 | 52,639 |
Group 1 Automotive, Inc. | 36,196 | 3,839,672 |
Groupon, Inc. * | 48,074 | 932,155 |
GrowGeneration Corp. * | 74,393 | 1,242,363 |
Guess?, Inc. | 87,792 | 1,034,190 |
Haverty Furniture Cos., Inc. | 34,979 | 875,175 |
Hibbett Sports, Inc. * | 34,275 | 1,295,938 |
Hudson Ltd., Class A * | 82,306 | 628,818 |
Lands' End, Inc. * | 24,017 | 385,473 |
Liquidity Services, Inc. * | 57,494 | 490,424 |
Lithia Motors, Inc., Class A | 52,818 | 12,125,428 |
Lumber Liquidators Holdings, Inc. * | 59,358 | 1,312,999 |
Macy's, Inc. | 646,219 | 4,013,020 |
Magnite, Inc. * | 219,235 | 1,979,692 |
MarineMax, Inc. * | 42,853 | 1,284,733 |
Monro, Inc. | 68,542 | 2,882,876 |
Murphy USA, Inc. * | 57,187 | 6,993,398 |
National Vision Holdings, Inc. * | 166,709 | 6,723,374 |
OneWater Marine, Inc., Class A * | 10,736 | 200,012 |
Overstock.com, Inc. * | 88,396 | 4,959,016 |
PetMed Express, Inc. | 40,673 | 1,203,107 |
Quotient Technology, Inc. * | 178,713 | 1,590,546 |
Rent-A-Center, Inc. | 100,747 | 3,113,082 |
RH * | 32,237 | 10,806,809 |
Sally Beauty Holdings, Inc. * | 234,442 | 1,962,280 |
Shoe Carnival, Inc. | 19,457 | 602,778 |
Shutterstock, Inc. | 45,456 | 2,975,095 |
Signet Jewelers Ltd. | 108,418 | 2,415,553 |
Sleep Number Corp. * | 55,877 | 3,540,367 |
Sonic Automotive, Inc., Class A | 49,598 | 1,788,504 |
Sportsman's Warehouse Holdings, Inc. * | 88,902 | 1,157,504 |
Stamps.com, Inc. * | 35,220 | 7,862,513 |
Stitch Fix, Inc., Class A * | 116,231 | 4,001,833 |
The Buckle, Inc. | 60,214 | 1,442,727 |
The Cato Corp., Class A | 42,589 | 260,645 |
The Children's Place, Inc. | 29,260 | 739,400 |
The Container Store Group, Inc. * | 40,270 | 383,370 |
The Michaels Cos., Inc. * | 154,860 | 1,255,915 |
The ODP Corp. | 108,558 | 2,116,881 |
The RealReal Inc * | 129,661 | 1,632,432 |
Tilly's, Inc., Class A | 44,347 | 272,291 |
Urban Outfitters, Inc. * | 142,479 | 3,182,981 |
Waitr Holdings, Inc. * | 173,921 | 443,499 |
Weyco Group, Inc. | 12,841 | 203,401 |
Winmark Corp. | 6,221 | 1,053,900 |
Zumiez, Inc. * | 43,462 | 1,216,936 |
153,369,567 | ||
Semiconductors & Semiconductor Equipment 2.8% | ||
Advanced Energy Industries, Inc. * | 78,639 | 5,305,773 |
Alpha & Omega Semiconductor Ltd. * | 42,025 | 666,517 |
Ambarella, Inc. * | 68,779 | 3,760,148 |
Security | Number of Shares | Value ($) |
Amkor Technology, Inc. * | 207,526 | 2,459,183 |
Atomera, Inc. *(a) | 33,222 | 270,759 |
Axcelis Technologies, Inc. * | 68,825 | 1,518,968 |
AXT, Inc. * | 80,777 | 480,623 |
Brooks Automation, Inc. | 150,560 | 7,031,152 |
CEVA, Inc. * | 45,145 | 1,820,246 |
CMC Materials, Inc. | 60,171 | 8,555,715 |
Cohu, Inc. | 85,442 | 1,856,655 |
CyberOptics Corp. * | 14,500 | 334,080 |
Diodes, Inc. * | 87,698 | 5,071,575 |
DSP Group, Inc. * | 45,517 | 599,459 |
FormFactor, Inc. * | 159,748 | 4,528,856 |
GSI Technology, Inc. * | 34,625 | 211,559 |
Ichor Holdings Ltd. * | 45,840 | 1,066,238 |
Impinj, Inc. * | 34,817 | 888,182 |
Lattice Semiconductor Corp. * | 278,802 | 9,730,190 |
MACOM Technology Solutions Holdings, Inc. * | 97,715 | 3,566,598 |
Maxeon Solar Technologies Ltd. *(a) | 20,402 | 330,512 |
MaxLinear, Inc. * | 140,492 | 3,714,608 |
NeoPhotonics Corp. * | 100,913 | 687,218 |
NVE Corp. | 9,717 | 448,245 |
Onto Innovation, Inc. * | 98,612 | 3,162,487 |
PDF Solutions, Inc. * | 60,099 | 1,126,255 |
Photronics, Inc. * | 131,378 | 1,280,936 |
Pixelworks, Inc. * | 81,736 | 181,454 |
Power Integrations, Inc. | 122,203 | 7,357,843 |
Rambus, Inc. * | 235,755 | 3,251,061 |
Semtech Corp. * | 133,873 | 7,348,289 |
Silicon Laboratories, Inc. * | 89,870 | 9,208,080 |
SiTime Corp. * | 18,945 | 1,581,718 |
SMART Global Holdings, Inc. * | 29,016 | 765,732 |
SunPower Corp. * | 159,052 | 2,543,241 |
Synaptics, Inc. * | 70,501 | 5,405,312 |
Ultra Clean Holdings, Inc. * | 83,093 | 1,769,050 |
Veeco Instruments, Inc. * | 101,117 | 1,287,219 |
111,171,736 | ||
Software & Services 7.4% | ||
8x8, Inc. * | 214,366 | 3,704,244 |
A10 Networks, Inc. * | 126,566 | 853,055 |
ACI Worldwide, Inc. * | 237,337 | 6,923,120 |
Agilysys, Inc. * | 37,523 | 1,016,123 |
Alarm.com Holdings, Inc. * | 98,363 | 5,737,514 |
Altair Engineering, Inc., Class A * | 87,736 | 3,775,280 |
American Software, Inc., Class A | 61,847 | 907,914 |
Appfolio, Inc., Class A * | 33,754 | 4,822,434 |
Appian Corp. * | 73,588 | 4,658,120 |
Asure Software, Inc. * | 28,849 | 203,962 |
Avaya Holdings Corp. * | 171,982 | 2,958,090 |
Benefitfocus, Inc. * | 59,726 | 613,386 |
Blackbaud, Inc. | 102,419 | 5,053,353 |
Blackline, Inc. * | 104,001 | 10,158,818 |
Bottomline Technologies (DE), Inc. * | 89,546 | 3,556,767 |
Box, Inc., Class A * | 287,143 | 4,450,717 |
Brightcove, Inc. * | 82,773 | 1,047,078 |
Cardtronics plc, Class A * | 74,813 | 1,332,420 |
Cass Information Systems, Inc. | 29,586 | 1,160,363 |
Cerence, Inc. * | 76,055 | 4,151,082 |
ChannelAdvisor Corp. * | 57,537 | 932,099 |
Cloudera, Inc. * | 424,061 | 4,121,873 |
CommVault Systems, Inc. * | 86,402 | 3,420,655 |
Conduent, Inc. * | 342,938 | 1,195,139 |
Cornerstone OnDemand, Inc. * | 125,477 | 4,766,871 |
CSG Systems International, Inc. | 67,975 | 2,574,893 |
Digimarc Corp. * | 24,472 | 775,518 |
Digital Turbine, Inc. * | 170,628 | 4,890,199 |
Security | Number of Shares | Value ($) |
Domo, Inc., Class B * | 52,989 | 1,683,461 |
Ebix, Inc. | 54,813 | 989,923 |
eGain Corp. * | 43,495 | 689,396 |
Endurance International Group Holdings, Inc. * | 136,784 | 794,715 |
Envestnet, Inc. * | 110,081 | 8,447,616 |
EVERTEC, Inc. | 124,600 | 4,146,688 |
Evo Payments, Inc., Class A * | 84,786 | 1,786,441 |
ExlService Holdings, Inc. * | 69,520 | 5,265,445 |
GreenSky, Inc., Class A * | 128,969 | 610,023 |
Grid Dynamics Holdings, Inc. * | 44,124 | 344,167 |
GTT Communications, Inc. *(a) | 65,068 | 240,101 |
GTY Technology Holdings, Inc. * | 95,320 | 277,381 |
I3 Verticals, Inc., Class A * | 30,538 | 629,999 |
Information Services Group, Inc. * | 74,878 | 153,500 |
Intelligent Systems Corp. * | 15,485 | 587,191 |
International Money Express, Inc. * | 48,989 | 681,437 |
j2 Global, Inc. * | 93,843 | 6,370,063 |
KBR, Inc. | 295,249 | 6,581,100 |
Limelight Networks, Inc. * | 244,269 | 862,270 |
LivePerson, Inc. * | 127,790 | 6,831,653 |
LiveRamp Holdings, Inc. * | 132,895 | 8,783,031 |
ManTech International Corp., Class A | 56,189 | 3,645,542 |
MAXIMUS, Inc. | 126,758 | 8,566,306 |
MicroStrategy, Inc., Class A * | 16,043 | 2,680,304 |
Mimecast Ltd. * | 118,359 | 4,522,497 |
Mitek Systems, Inc. * | 82,798 | 1,030,835 |
MobileIron, Inc. * | 202,347 | 1,424,523 |
Model N, Inc. * | 70,882 | 2,497,173 |
MoneyGram International, Inc. * | 126,933 | 653,705 |
NIC, Inc. | 136,812 | 3,067,325 |
OneSpan, Inc. * | 69,397 | 1,521,876 |
Park City Group, Inc. * | 26,481 | 114,928 |
Paysign, Inc. * | 62,896 | 299,385 |
Perficient, Inc. * | 67,721 | 2,651,954 |
Perspecta, Inc. | 288,473 | 5,172,321 |
PFSweb, Inc. * | 33,104 | 205,245 |
Ping Identity Holding Corp. * | 76,063 | 2,106,184 |
Priority Technology Holdings, Inc. * | 13,581 | 39,249 |
Progress Software Corp. | 92,759 | 3,373,645 |
PROS Holdings, Inc. * | 81,624 | 2,299,348 |
Q2 Holdings, Inc. * | 102,813 | 9,380,658 |
QAD, Inc., Class A | 23,931 | 1,001,273 |
Qualys, Inc. * | 70,573 | 6,199,838 |
Rackspace Technology, Inc. *(a) | 70,149 | 1,104,847 |
Rapid7, Inc. * | 104,324 | 6,460,785 |
Repay Holdings Corp. * | 123,540 | 2,783,356 |
Rimini Street, Inc. * | 46,756 | 148,217 |
SailPoint Technologies Holding, Inc. * | 182,408 | 7,571,756 |
Sapiens International Corp. NV | 53,280 | 1,445,486 |
Seachange International, Inc. * | 64,744 | 48,558 |
SecureWorks Corp., Class A * | 17,659 | 183,654 |
ServiceSource International, Inc. * | 173,584 | 241,282 |
ShotSpotter, Inc. * | 16,647 | 487,924 |
Smith Micro Software, Inc. * | 71,997 | 296,628 |
Sprout Social, Inc., Class A * | 56,571 | 2,472,153 |
SPS Commerce, Inc. * | 72,789 | 6,230,011 |
StarTek, Inc. * | 34,785 | 182,621 |
SVMK, Inc. * | 250,970 | 5,252,802 |
Sykes Enterprises, Inc. * | 80,365 | 2,751,698 |
Synchronoss Technologies, Inc. * | 85,994 | 238,203 |
Telenav, Inc. * | 66,717 | 271,538 |
Tenable Holdings, Inc. * | 144,302 | 4,922,141 |
The Hackett Group, Inc. | 52,004 | 671,892 |
TTEC Holdings, Inc. | 37,728 | 2,066,740 |
Tucows, Inc., Class A * | 19,460 | 1,435,953 |
Unisys Corp. * | 128,640 | 1,690,330 |
Upland Software, Inc. * | 54,026 | 2,253,965 |
Security | Number of Shares | Value ($) |
Varonis Systems, Inc. * | 64,585 | 7,464,088 |
Verint Systems, Inc. * | 132,756 | 6,441,321 |
Veritone, Inc. *(a) | 49,482 | 464,141 |
Verra Mobility Corp. * | 277,984 | 2,671,426 |
VirnetX Holding Corp. | 131,533 | 728,693 |
Virtusa Corp. * | 60,609 | 3,048,633 |
Workiva, Inc. * | 80,959 | 4,477,842 |
Xperi Holding Corp. | 223,158 | 2,767,159 |
Yext, Inc. * | 208,993 | 3,465,104 |
Zix Corp. * | 113,606 | 696,405 |
Zuora, Inc., Class A * | 208,491 | 2,005,683 |
294,413,837 | ||
Technology Hardware & Equipment 3.2% | ||
3D Systems Corp. * | 243,057 | 1,382,994 |
Acacia Communications, Inc. * | 80,463 | 5,450,564 |
ADTRAN, Inc. | 99,299 | 1,061,506 |
Akoustis Technologies, Inc. *(a) | 64,338 | 533,362 |
Applied Optoelectronics, Inc. * | 44,741 | 392,826 |
Arlo Technologies, Inc. * | 160,699 | 716,718 |
Avid Technology, Inc. * | 64,762 | 603,582 |
Badger Meter, Inc. | 60,294 | 4,421,962 |
Bel Fuse, Inc., Class B | 20,501 | 240,067 |
Belden, Inc. | 91,718 | 2,832,252 |
Benchmark Electronics, Inc. | 75,772 | 1,578,331 |
CalAmp Corp. * | 68,397 | 484,251 |
Calix, Inc. * | 109,243 | 2,557,379 |
Cambium Networks Corp. * | 11,068 | 255,007 |
Casa Systems, Inc. * | 66,070 | 275,512 |
Clearfield, Inc. * | 22,878 | 478,837 |
Comtech Telecommunications Corp. | 50,403 | 725,803 |
CTS Corp. | 66,118 | 1,827,502 |
Daktronics, Inc. | 77,921 | 303,892 |
Diebold Nixdorf, Inc. * | 145,915 | 909,050 |
Digi International, Inc. * | 59,522 | 876,759 |
DZS, Inc. * | 23,926 | 272,517 |
Eastman Kodak Co. *(a) | 31,199 | 215,897 |
ePlus, Inc. * | 27,608 | 1,863,816 |
Extreme Networks, Inc. * | 247,521 | 1,004,935 |
Fabrinet * | 76,009 | 4,562,060 |
FARO Technologies, Inc. * | 36,875 | 2,221,350 |
Fitbit, Inc., Class A * | 503,184 | 3,542,415 |
Genasys, Inc. * | 70,743 | 425,873 |
Harmonic, Inc. * | 196,993 | 1,170,138 |
II-VI, Inc. * | 208,882 | 9,497,865 |
Immersion Corp. * | 35,530 | 218,865 |
Infinera Corp. * | 330,713 | 2,070,263 |
Inseego Corp. *(a) | 141,648 | 1,232,338 |
Insight Enterprises, Inc. * | 71,670 | 3,823,594 |
Intellicheck, Inc. * | 37,428 | 270,979 |
InterDigital, Inc. | 63,955 | 3,580,201 |
Intevac, Inc. * | 46,614 | 246,122 |
Iteris, Inc. * | 84,492 | 318,535 |
Itron, Inc. * | 83,020 | 5,641,209 |
Kimball Electronics, Inc. * | 49,861 | 604,315 |
Knowles Corp. * | 183,984 | 2,621,772 |
KVH Industries, Inc. * | 34,626 | 300,900 |
Luna Innovations, Inc. * | 59,820 | 377,464 |
Methode Electronics, Inc. | 76,251 | 2,346,243 |
MTS Systems Corp. | 40,103 | 973,701 |
Napco Security Technologies, Inc. * | 23,729 | 572,343 |
NETGEAR, Inc. * | 61,180 | 1,885,568 |
NetScout Systems, Inc. * | 144,223 | 2,959,456 |
nLight, Inc. * | 72,414 | 1,538,073 |
Novanta, Inc. * | 70,865 | 7,704,443 |
OSI Systems, Inc. * | 35,184 | 2,714,797 |
PAR Technology Corp. * | 33,404 | 1,234,946 |
Security | Number of Shares | Value ($) |
PC Connection, Inc. | 22,922 | 1,044,097 |
PCTEL, Inc. * | 37,870 | 193,137 |
Plantronics, Inc. | 71,025 | 1,386,408 |
Plexus Corp. * | 59,371 | 4,128,659 |
Powerfleet, Inc. * | 58,847 | 356,024 |
Quantum Corp. * | 59,321 | 247,962 |
Research Frontiers, Inc. *(a) | 57,115 | 147,928 |
Resonant, Inc. *(a) | 106,683 | 244,304 |
Ribbon Communications, Inc. * | 141,449 | 609,645 |
Rogers Corp. * | 38,728 | 4,694,608 |
Sanmina Corp. * | 138,883 | 3,394,301 |
ScanSource, Inc. * | 52,526 | 1,055,773 |
Super Micro Computer, Inc. * | 93,319 | 2,120,208 |
TTM Technologies, Inc. * | 207,558 | 2,463,713 |
Viavi Solutions, Inc. * | 472,888 | 5,840,167 |
Vishay Intertechnology, Inc. | 274,948 | 4,459,657 |
Vishay Precision Group, Inc. * | 25,741 | 614,952 |
Wrap Technologies, Inc. *(a) | 24,620 | 127,285 |
129,049,977 | ||
Telecommunication Services 1.0% | ||
Alaska Communications Systems Group, Inc. | 111,862 | 213,656 |
Anterix, Inc. * | 22,390 | 714,689 |
ATN International, Inc. | 23,262 | 1,039,811 |
Bandwidth, Inc., Class A * | 39,727 | 6,370,423 |
Boingo Wireless, Inc. * | 91,060 | 850,500 |
Cincinnati Bell, Inc. * | 104,190 | 1,568,059 |
Cogent Communications Holdings, Inc. | 87,986 | 4,909,619 |
Consolidated Communications Holdings, Inc. * | 151,179 | 706,006 |
Gogo, Inc. *(a) | 114,695 | 922,148 |
IDT Corp., Class B * | 31,756 | 302,635 |
Iridium Communications, Inc. * | 243,554 | 6,432,261 |
Liberty Latin America Ltd., Class A * | 95,954 | 940,349 |
Liberty Latin America Ltd., Class C * | 322,504 | 3,134,739 |
Ooma, Inc. * | 42,950 | 606,025 |
ORBCOMM, Inc. * | 150,660 | 647,838 |
Shenandoah Telecommunications Co. | 99,745 | 4,350,877 |
Spok Holdings, Inc. | 36,435 | 330,830 |
Vonage Holdings Corp. * | 479,420 | 5,072,264 |
39,112,729 | ||
Transportation 1.4% | ||
Air Transport Services Group, Inc. * | 122,212 | 3,426,824 |
Allegiant Travel Co. | 27,030 | 3,642,563 |
ArcBest Corp. | 52,375 | 1,598,485 |
Atlas Air Worldwide Holdings, Inc. * | 53,502 | 3,165,178 |
Avis Budget Group, Inc. * | 108,780 | 3,662,623 |
Costamare, Inc. | 102,142 | 581,188 |
Covenant Logistics Group, Inc. * | 24,206 | 333,317 |
Daseke, Inc. * | 93,213 | 612,409 |
Eagle Bulk Shipping, Inc. * | 13,207 | 181,728 |
Echo Global Logistics, Inc. * | 54,461 | 1,468,813 |
Forward Air Corp. | 57,486 | 3,619,893 |
Genco Shipping & Trading Ltd. | 35,175 | 227,231 |
Hawaiian Holdings, Inc. | 94,479 | 1,308,534 |
Heartland Express, Inc. | 100,684 | 1,843,524 |
Hub Group, Inc., Class A * | 67,694 | 3,393,500 |
Marten Transport Ltd. | 123,072 | 1,888,540 |
Matson, Inc. | 88,424 | 4,593,627 |
Mesa Air Group, Inc. * | 61,387 | 193,983 |
P.A.M. Transportation Services, Inc. * | 3,569 | 141,332 |
Pangaea Logistics Solutions Ltd. | 23,042 | 61,522 |
Radiant Logistics, Inc. * | 81,573 | 419,285 |
Safe Bulkers, Inc. * | 110,082 | 97,599 |
Security | Number of Shares | Value ($) |
Saia, Inc. * | 54,477 | 8,044,074 |
Scorpio Bulkers, Inc. | 18,481 | 202,921 |
SkyWest, Inc. | 102,469 | 2,974,675 |
Spirit Airlines, Inc. * | 185,203 | 3,254,017 |
Universal Logistics Holdings, Inc. | 16,120 | 318,048 |
US Xpress Enterprises, Inc., Class A * | 46,884 | 338,034 |
Werner Enterprises, Inc. | 126,252 | 4,800,101 |
56,393,568 | ||
Utilities 3.3% | ||
ALLETE, Inc. | 107,952 | 5,568,164 |
American States Water Co. | 76,460 | 5,710,797 |
Artesian Resources Corp., Class A | 16,850 | 593,625 |
Atlantic Power Corp. * | 180,914 | 360,019 |
Avista Corp. | 139,405 | 4,631,034 |
Black Hills Corp. | 130,325 | 7,384,214 |
Brookfield Infrastructure Corp., Class A (a) | 67,282 | 3,664,850 |
Brookfield Renewable Corp., Class A | 141,696 | 9,461,042 |
Cadiz, Inc. *(a) | 41,163 | 393,107 |
California Water Service Group | 102,340 | 4,561,294 |
Chesapeake Utilities Corp. | 33,579 | 3,264,215 |
Clearway Energy, Inc., Class A | 72,540 | 1,901,273 |
Clearway Energy, Inc., Class C | 167,601 | 4,719,644 |
Consolidated Water Co., Ltd. | 29,993 | 301,730 |
Genie Energy Ltd., Class B | 28,082 | 232,800 |
Global Water Resources, Inc. | 26,336 | 279,162 |
MGE Energy, Inc. | 75,629 | 4,917,398 |
Middlesex Water Co. | 35,482 | 2,275,815 |
New Jersey Resources Corp. | 197,892 | 5,774,489 |
Northwest Natural Holding Co. | 63,356 | 2,815,541 |
NorthWestern Corp. | 105,181 | 5,483,085 |
ONE Gas, Inc. | 108,567 | 7,495,466 |
Ormat Technologies, Inc. | 82,844 | 5,871,154 |
Otter Tail Corp. | 84,284 | 3,232,291 |
PNM Resources, Inc. | 164,492 | 8,224,600 |
Portland General Electric Co. | 186,311 | 7,322,022 |
Pure Cycle Corp. * | 39,746 | 349,765 |
RGC Resources, Inc. | 15,761 | 375,112 |
SJW Group. | 54,575 | 3,312,157 |
South Jersey Industries, Inc. | 209,260 | 4,032,440 |
Southwest Gas Holdings, Inc. | 116,180 | 7,635,350 |
Spark Energy, Inc., Class A | 24,901 | 227,097 |
Spire, Inc. | 104,040 | 5,830,402 |
Sunnova Energy International, Inc. * | 110,320 | 2,654,299 |
The York Water Co. | 26,925 | 1,137,581 |
Unitil Corp. | 30,672 | 1,059,718 |
133,052,752 | ||
Total Common Stock | ||
(Cost $3,189,817,855) | 3,975,531,941 | |
Rights 0.0% of net assets | ||
Capital Goods 0.0% | ||
HC2 Holdings, Inc. expires 11/20/20 *(b) | 78,545 | — |
Media & Entertainment 0.0% | ||
Media General, Inc. CVR *(b) | 174,886 | 14,883 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Aduro Biotech, Inc. CVR *(b) | 27,867 | 83,601 |
Omthera Pharmaceuticals, Inc. CVR *(b) | 8,400 | — |
Security | Number of Shares | Value ($) |
Oncternal Therapeutics, Inc. CVR *(a)(b) | 1,506 | 3,087 |
Tobira Therapeutics, Inc. CVR *(b) | 14,029 | 167,575 |
254,263 | ||
Total Rights | ||
(Cost $6,703) | 269,146 | |
Warrants 0.0% of net assets | ||
Energy 0.0% | ||
Pulse Biosciences, Inc. expires 05/14/25 *(b) | 948 | 9,962 |
Total Warrants | ||
(Cost $—) | 9,962 | |
Other Investment Company 1.5% of net assets | ||
Securities Lending Collateral 1.5% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 57,653,589 | 57,653,589 |
Total Other Investment Company | ||
(Cost $57,653,589) | 57,653,589 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.3% of net assets | ||
Time Deposit 0.3% | ||
Sumitomo Mitsui Banking Corp. | ||
0.01%, 11/02/20 (d) | 13,572,108 | 13,572,108 |
Total Short-Term Investment | ||
(Cost $13,572,108) | 13,572,108 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 2000 Index, e-mini, expires 12/18/20 | 160 | 12,294,400 | (514,409) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $53,460,251. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 99.3% of net assets | ||
Automobiles & Components 1.4% | ||
Adient plc * | 30,290 | 642,754 |
American Axle & Manufacturing Holdings, Inc. * | 37,198 | 249,971 |
Aptiv plc | 93,676 | 9,038,797 |
Arcimoto, Inc. *(a) | 15,547 | 83,798 |
Autoliv, Inc. | 26,885 | 2,037,883 |
BorgWarner, Inc. | 84,288 | 2,948,394 |
Cooper Tire & Rubber Co. | 18,311 | 629,715 |
Cooper-Standard Holdings, Inc. * | 6,229 | 97,733 |
Dana, Inc. | 53,165 | 743,778 |
Dorman Products, Inc. * | 10,202 | 910,733 |
Ford Motor Co. | 1,356,645 | 10,486,866 |
Fox Factory Holding Corp. * | 13,913 | 1,169,805 |
General Motors Co. | 437,717 | 15,114,368 |
Gentex Corp. | 84,954 | 2,350,677 |
Gentherm, Inc. * | 11,532 | 533,816 |
Harley-Davidson, Inc. | 55,085 | 1,811,195 |
Horizon Global Corp. * | 12,146 | 68,261 |
LCI Industries | 9,130 | 1,001,196 |
Lear Corp. | 18,488 | 2,233,535 |
Modine Manufacturing Co. * | 17,500 | 112,000 |
Motorcar Parts of America, Inc. * | 5,552 | 81,781 |
NII Holdings, Inc. Escrow *(b) | 28,127 | 57,379 |
Patrick Industries, Inc. | 7,687 | 428,550 |
Standard Motor Products, Inc. | 6,796 | 311,257 |
Stoneridge, Inc. * | 10,196 | 232,775 |
Strattec Security Corp. | 1,500 | 43,560 |
Tenneco, Inc., Class A * | 22,341 | 192,579 |
Tesla, Inc. * | 258,880 | 100,455,795 |
The Goodyear Tire & Rubber Co. | 81,683 | 676,335 |
Thor Industries, Inc. | 19,360 | 1,637,469 |
Veoneer, Inc. * | 34,040 | 523,195 |
Visteon Corp. * | 9,724 | 871,757 |
Winnebago Industries, Inc. | 11,705 | 549,550 |
Workhorse Group, Inc. *(a) | 32,387 | 498,112 |
XPEL, Inc. * | 4,445 | 110,147 |
158,935,516 | ||
Banks 3.7% | ||
1st Constitution Bancorp | 2,000 | 26,080 |
1st Source Corp. | 5,295 | 177,330 |
ACNB Corp. | 2,463 | 51,403 |
Allegiance Bancshares, Inc. | 7,867 | 222,636 |
Altabancorp | 5,381 | 117,144 |
Amalgamated Bank, Class A | 6,975 | 77,423 |
Amerant Bancorp, Inc. * | 8,788 | 88,495 |
American National Bankshares, Inc. | 4,310 | 98,268 |
American River Bankshares | 3,244 | 33,478 |
Ameris Bancorp | 22,504 | 659,367 |
AmeriServ Financial, Inc. | 10,799 | 29,805 |
Ames National Corp. | 2,389 | 46,108 |
Arrow Financial Corp. | 5,135 | 140,545 |
Associated Banc-Corp. | 54,272 | 742,984 |
Atlantic Capital Bancshares, Inc. * | 7,985 | 110,832 |
Atlantic Union Bankshares Corp. | 29,178 | 737,912 |
Security | Number of Shares | Value ($) |
Auburn National Bancorp, Inc. | 1,391 | 51,690 |
Axos Financial, Inc. * | 19,991 | 544,955 |
Banc of California, Inc. | 17,916 | 214,992 |
BancFirst Corp. | 6,788 | 301,727 |
BancorpSouth Bank | 34,911 | 817,267 |
Bank First Corp. (a) | 2,265 | 144,983 |
Bank of America Corp. | 2,648,462 | 62,768,549 |
Bank of Commerce Holdings | 5,000 | 40,050 |
Bank of Hawaii Corp. | 14,212 | 861,816 |
Bank of Marin Bancorp | 3,742 | 112,784 |
Bank OZK | 42,925 | 1,063,681 |
BankFinancial Corp. | 4,321 | 31,759 |
BankUnited, Inc. | 31,580 | 797,395 |
Bankwell Financial Group, Inc. | 2,000 | 33,000 |
Banner Corp. | 12,659 | 466,737 |
Bar Harbor Bankshares | 5,502 | 112,351 |
Baycom Corp. * | 4,870 | 54,057 |
BCB Bancorp, Inc. | 4,200 | 38,178 |
Berkshire Hills Bancorp, Inc. | 16,351 | 213,054 |
BOK Financial Corp. | 11,253 | 661,001 |
Boston Private Financial Holdings, Inc. | 28,203 | 174,295 |
Bridge Bancorp, Inc. | 5,500 | 107,470 |
Bridgewater Bancshares, Inc. * | 4,163 | 46,251 |
Brookline Bancorp, Inc. | 26,142 | 250,440 |
Bryn Mawr Bank Corp. | 6,152 | 165,243 |
Business First Bancshares, Inc. | 9,863 | 163,824 |
Byline Bancorp, Inc. | 9,933 | 130,520 |
C&F Financial Corp. | 1,200 | 37,380 |
Cadence BanCorp | 41,959 | 470,780 |
California Bancorp, Inc. * | 4,859 | 66,325 |
Cambridge Bancorp | 3,286 | 204,028 |
Camden National Corp. | 4,903 | 156,749 |
Capital Bancorp, Inc. * | 5,118 | 53,841 |
Capital City Bank Group, Inc. | 5,225 | 111,345 |
Capitol Federal Financial, Inc. | 48,563 | 557,503 |
Capstar Financial Holdings, Inc. | 2,802 | 29,113 |
Carter Bank & Trust | 8,134 | 56,531 |
Cathay General Bancorp | 24,528 | 577,144 |
CB Financial Services, Inc. | 1,482 | 29,062 |
CBTX, Inc. | 6,037 | 114,099 |
Central Pacific Financial Corp. | 8,622 | 118,725 |
Central Valley Community Bancorp | 3,755 | 48,440 |
Century Bancorp, Inc., Class A | 1,223 | 87,530 |
Chemung Financial Corp. | 968 | 32,989 |
ChoiceOne Financial Services, Inc. | 2,484 | 71,440 |
CIT Group, Inc. | 35,794 | 1,054,133 |
Citigroup, Inc. | 721,761 | 29,895,341 |
Citizens & Northern Corp. | 4,229 | 71,639 |
Citizens Community Bancorp, Inc. | 3,744 | 28,454 |
Citizens Financial Group, Inc. | 146,690 | 3,997,302 |
Citizens Holdings Co. | 2,747 | 59,610 |
City Holding Co. | 5,897 | 356,356 |
Civista Bancshares, Inc. | 3,796 | 54,131 |
CNB Financial Corp. | 5,361 | 97,249 |
Coastal Financial Corp. * | 4,438 | 65,949 |
Codorus Valley Bancorp, Inc. | 2,828 | 38,065 |
Colony Bankcorp, Inc. | 2,706 | 33,906 |
Columbia Banking System, Inc. | 26,491 | 752,609 |
Columbia Financial, Inc. * | 19,578 | 238,656 |
Comerica, Inc. | 48,076 | 2,187,939 |
Security | Number of Shares | Value ($) |
Commerce Bancshares, Inc. | 35,704 | 2,222,574 |
Community Bank System, Inc. | 18,906 | 1,096,359 |
Community Bankers Trust Corp. | 7,000 | 38,220 |
Community Trust Bancorp, Inc. | 5,256 | 167,246 |
ConnectOne Bancorp, Inc. | 11,372 | 175,470 |
County Bancorp, Inc. | 2,567 | 47,490 |
CrossFirst Bankshares, Inc. * | 12,123 | 101,227 |
Cullen/Frost Bankers, Inc. | 20,148 | 1,415,800 |
Customers Bancorp, Inc. * | 10,510 | 145,248 |
CVB Financial Corp. | 47,985 | 839,737 |
Dime Community Bancshares, Inc. | 9,580 | 121,187 |
Eagle Bancorp Montana, Inc. | 2,558 | 49,267 |
Eagle Bancorp, Inc. | 12,070 | 361,134 |
East West Bancorp, Inc. | 49,851 | 1,818,564 |
Enterprise Bancorp, Inc. | 2,816 | 63,670 |
Enterprise Financial Services Corp. | 9,438 | 274,740 |
Equity Bancshares, Inc., Class A * | 5,288 | 97,193 |
Esquire Financial Holdings, Inc. * | 1,750 | 27,283 |
ESSA Bancorp, Inc. | 2,841 | 36,109 |
Essent Group Ltd. | 38,799 | 1,546,140 |
Evans Bancorp, Inc. | 1,382 | 31,523 |
F.N.B. Corp. | 112,543 | 850,825 |
Farmers & Merchants Bancorp, Inc. | 4,577 | 91,815 |
Farmers National Banc Corp. | 7,093 | 82,633 |
Fauquier Bankshares, Inc. | 2,085 | 32,380 |
FB Financial Corp. | 9,150 | 269,925 |
Federal Agricultural Mortgage Corp., Class C | 2,925 | 188,926 |
Fidelity D&D Bancorp, Inc. | 800 | 38,128 |
Fifth Third Bancorp | 246,507 | 5,723,893 |
Financial Institutions, Inc. | 4,637 | 82,214 |
First BanCorp | 75,196 | 488,022 |
First BanCorp (North Carolina) | 10,445 | 251,620 |
First Bank | 6,451 | 48,318 |
First Busey Corp. | 16,944 | 304,823 |
First Business Financial Services, Inc. | 2,369 | 40,628 |
First Capital, Inc. | 1,074 | 64,773 |
First Choice Bancorp | 2,370 | 33,370 |
First Citizens BancShares, Inc., Class A | 2,618 | 1,211,349 |
First Commonwealth Financial Corp. | 32,758 | 282,374 |
First Community Bankshares, Inc. | 4,583 | 86,985 |
First Community Corp. | 2,104 | 29,898 |
First Financial Bancorp | 32,014 | 457,800 |
First Financial Bankshares, Inc. | 49,779 | 1,483,912 |
First Financial Corp. | 3,997 | 138,776 |
First Financial Northwest, Inc. | 2,467 | 24,448 |
First Foundation, Inc. | 11,843 | 176,105 |
First Guaranty Bancshares, Inc. | 2,349 | 34,178 |
First Hawaiian, Inc. | 44,256 | 763,859 |
First Horizon National Corp. | 189,525 | 1,972,955 |
First Internet Bancorp | 4,592 | 98,820 |
First Interstate BancSystem, Inc., Class A | 12,583 | 444,180 |
First Merchants Corp. | 19,863 | 518,623 |
First Mid Bancshares, Inc. | 6,521 | 181,023 |
First Midwest Bancorp, Inc. | 39,319 | 493,453 |
First Northwest Bancorp | 3,416 | 40,138 |
First Republic Bank | 60,252 | 7,600,187 |
First Savings Financial Group, Inc. | 860 | 46,483 |
First United Corp. | 2,475 | 29,502 |
Flagstar Bancorp, Inc. | 14,382 | 422,112 |
Flushing Financial Corp. | 10,119 | 129,422 |
FNCB Bancorp, Inc. | 4,152 | 22,836 |
Franklin Financial Services Corp. | 1,600 | 35,200 |
FS Bancorp, Inc. | 938 | 43,439 |
Fulton Financial Corp. | 56,139 | 616,968 |
FVCBankcorp, Inc. * | 5,555 | 68,549 |
German American Bancorp, Inc. | 9,856 | 297,356 |
Glacier Bancorp, Inc. | 32,256 | 1,154,765 |
Security | Number of Shares | Value ($) |
Great Southern Bancorp, Inc. | 3,639 | 149,017 |
Great Western Bancorp, Inc. | 18,522 | 240,601 |
Greene County Bancorp, Inc. | 1,473 | 33,216 |
Guaranty Bancshares, Inc. | 2,780 | 80,342 |
Guaranty Federal Bancshares, Inc. | 1,961 | 27,689 |
Hancock Whitney Corp. | 28,840 | 659,571 |
Hanmi Financial Corp. | 10,693 | 96,130 |
HarborOne Bancorp, Inc. * | 19,941 | 187,445 |
Hawthorn Bancshares, Inc. | 1,731 | 32,820 |
HBT Financial, Inc. | 4,303 | 53,099 |
Heartland Financial USA, Inc. | 11,104 | 365,766 |
Heritage Commerce Corp. | 22,589 | 163,770 |
Heritage Financial Corp. | 14,397 | 301,761 |
Hilltop Holdings, Inc. | 25,847 | 589,570 |
Home Bancorp, Inc. | 1,946 | 49,117 |
Home BancShares, Inc. | 51,875 | 861,125 |
HomeStreet, Inc. | 9,269 | 287,988 |
HomeTrust Bancshares, Inc. | 6,004 | 95,884 |
Hope Bancorp, Inc. | 47,307 | 381,767 |
Horizon Bancorp, Inc. | 12,027 | 149,135 |
Howard Bancorp, Inc. * | 4,800 | 48,624 |
Huntington Bancshares, Inc. | 351,475 | 3,669,399 |
Independent Bank Corp. | 12,257 | 702,204 |
Independent Bank Corp., Michigan | 7,335 | 109,805 |
Independent Bank Group, Inc. | 12,943 | 667,600 |
International Bancshares Corp. | 19,695 | 545,158 |
Investar Holding Corp. | 2,523 | 35,171 |
Investors Bancorp, Inc. | 79,156 | 669,660 |
JPMorgan Chase & Co. | 1,058,399 | 103,765,438 |
Kearny Financial Corp. | 33,934 | 285,046 |
KeyCorp | 337,866 | 4,385,501 |
Lakeland Bancorp, Inc. | 15,000 | 166,950 |
Lakeland Financial Corp. | 10,005 | 511,556 |
Landmark Bancorp, Inc. | 2,724 | 63,878 |
LCNB Corp. | 4,536 | 62,415 |
Level One Bancorp, Inc. | 3,011 | 47,423 |
Live Oak Bancshares, Inc. | 7,662 | 285,639 |
Luther Burbank Corp. | 6,821 | 64,322 |
M&T Bank Corp. | 44,306 | 4,589,215 |
Macatawa Bank Corp. | 7,248 | 52,113 |
Mackinac Financial Corp. | 2,963 | 29,423 |
MainStreet Bancshares, Inc. * | 3,000 | 44,730 |
Malvern Bancorp, Inc. * | 1,956 | 24,391 |
Mercantile Bank Corp. | 5,614 | 122,722 |
Merchants Bancorp | 5,609 | 121,042 |
Meridian Bancorp, Inc. | 18,271 | 227,474 |
Meridian Corp. | 2,531 | 44,495 |
Meta Financial Group, Inc. | 11,373 | 333,684 |
Metrocity Bankshares, Inc. | 10,648 | 148,753 |
Metropolitan Bank Holding Corp. * | 2,381 | 71,311 |
MGIC Investment Corp. | 117,784 | 1,184,907 |
Mid Penn Bancorp, Inc. | 1,996 | 39,022 |
Middlefield Banc Corp. | 1,808 | 34,497 |
Midland States Bancorp, Inc. | 7,038 | 104,866 |
MidWestOne Financial Group, Inc. | 3,261 | 65,709 |
MMA Capital Holdings, Inc. * | 1,499 | 37,595 |
Mr Cooper Group, Inc. * | 25,993 | 547,932 |
MVB Financial Corp. | 3,423 | 54,597 |
National Bank Holdings Corp., Class A | 9,231 | 278,315 |
National Bankshares, Inc. | 2,688 | 73,060 |
NBT Bancorp, Inc. | 16,748 | 458,560 |
New York Community Bancorp, Inc. | 163,968 | 1,362,574 |
Nicolet Bankshares, Inc. * | 2,665 | 164,430 |
NMI Holdings, Inc., Class A * | 28,739 | 617,601 |
Northeast Bank * | 1,965 | 37,708 |
Northfield Bancorp, Inc. | 16,254 | 165,141 |
Northrim BanCorp, Inc. | 2,596 | 74,142 |
Northwest Bancshares, Inc. | 45,170 | 481,964 |
Security | Number of Shares | Value ($) |
Norwood Financial Corp. | 1,600 | 36,608 |
Oak Valley Bancorp | 2,528 | 35,063 |
OceanFirst Financial Corp. | 21,028 | 314,789 |
Ocwen Financial Corp. * | 2,248 | 51,929 |
OFG Bancorp | 16,312 | 234,730 |
Ohio Valley Banc Corp. | 1,139 | 24,386 |
Old National Bancorp | 59,649 | 833,893 |
Old Second Bancorp, Inc. | 10,602 | 90,647 |
Origin Bancorp, Inc. | 7,855 | 175,716 |
Orrstown Financial Services, Inc. | 2,174 | 30,393 |
Pacific Mercantile Bancorp * | 4,589 | 17,025 |
Pacific Premier Bancorp, Inc. | 31,264 | 797,232 |
PacWest Bancorp | 41,311 | 794,824 |
Park National Corp. | 4,958 | 454,401 |
Parke Bancorp, Inc. | 2,462 | 29,618 |
PCB Bancorp | 6,102 | 57,359 |
PCSB Financial Corp. | 6,385 | 86,006 |
Peapack-Gladstone Financial Corp. | 5,216 | 88,046 |
Penns Woods Bancorp, Inc. | 2,250 | 46,485 |
PennyMac Financial Services, Inc. | 14,649 | 744,462 |
People's United Financial, Inc. | 152,462 | 1,626,770 |
Peoples Bancorp of North Carolina, Inc. | 1,427 | 24,673 |
Peoples Bancorp, Inc. | 6,847 | 154,742 |
Peoples Financial Services Corp. | 2,448 | 87,761 |
Pinnacle Financial Partners, Inc. | 25,044 | 1,146,765 |
Pioneer Bancorp, Inc. * | 5,272 | 49,873 |
Plumas Bancorp | 1,860 | 37,423 |
Ponce de Leon Federal Bank * | 3,464 | 31,522 |
Popular, Inc. | 30,002 | 1,266,084 |
Preferred Bank | 5,001 | 169,184 |
Premier Financial Bancorp, Inc. | 2,848 | 35,600 |
Premier Financial Corp. | 13,975 | 251,410 |
Professional Holding Corp., Class A * | 5,294 | 72,157 |
Prosperity Bancshares, Inc. | 32,997 | 1,818,465 |
Provident Bancorp, Inc. | 1,515 | 13,059 |
Provident Financial Holdings, Inc. | 2,246 | 28,434 |
Provident Financial Services, Inc. | 24,306 | 329,832 |
Prudential Bancorp, Inc. | 2,109 | 24,443 |
QCR Holdings, Inc. | 6,599 | 204,767 |
Radian Group, Inc. | 69,916 | 1,254,992 |
RBB Bancorp | 4,010 | 51,208 |
Red River Bancshares, Inc. | 2,891 | 131,280 |
Regions Financial Corp. | 331,023 | 4,402,606 |
Reliant Bancorp, Inc. | 8,436 | 142,147 |
Renasant Corp. | 21,291 | 607,006 |
Republic Bancorp, Inc., Class A | 2,950 | 98,323 |
Republic First Bancorp, Inc. * | 17,184 | 38,320 |
Richmond Mutual BanCorp., Inc. | 7,448 | 81,556 |
Riverview Bancorp, Inc. | 5,400 | 25,326 |
Rocket Cos., Inc., Class A *(a) | 35,321 | 643,902 |
S&T Bancorp, Inc. | 13,976 | 276,585 |
Salisbury Bancorp, Inc. | 1,041 | 35,227 |
Sandy Spring Bancorp, Inc. | 16,337 | 414,143 |
SB Financial Group, Inc. | 2,430 | 37,276 |
Seacoast Banking Corp. of Florida * | 17,503 | 375,964 |
Select Bancorp, Inc. * | 5,100 | 37,995 |
ServisFirst Bancshares, Inc. | 16,569 | 611,396 |
Severn Bancorp, Inc. | 5,134 | 31,831 |
Shore Bancshares, Inc. | 4,629 | 50,086 |
Sierra Bancorp | 4,155 | 82,435 |
Signature Bank | 18,545 | 1,497,323 |
Silvergate Capital Corp., Class A * | 4,622 | 103,348 |
Simmons First National Corp., Class A | 38,643 | 656,545 |
SmartFinancial, Inc. | 4,105 | 61,329 |
Sound Financial Bancorp, Inc. | 1,293 | 36,721 |
South Plains Financial, Inc. | 3,800 | 55,670 |
South State Corp. | 24,586 | 1,509,580 |
Southern First Bancshares, Inc. * | 1,875 | 50,325 |
Security | Number of Shares | Value ($) |
Southern Missouri Bancorp, Inc. | 3,020 | 76,950 |
Southern National Bancorp of Virginia, Inc. | 6,730 | 65,012 |
Southside Bancshares, Inc. | 10,547 | 284,347 |
Spirit of Texas Bancshares, Inc. | 3,720 | 47,281 |
Standard AVB Financial Corp. | 1,872 | 61,439 |
Sterling Bancorp | 67,222 | 899,430 |
Sterling Bancorp, Inc. | 7,691 | 27,149 |
Stock Yards Bancorp, Inc. | 7,278 | 278,165 |
Summit Financial Group, Inc. | 3,433 | 61,828 |
SVB Financial Group * | 18,215 | 5,295,100 |
Synovus Financial Corp. | 51,358 | 1,335,308 |
TCF Financial Corp. | 53,302 | 1,450,347 |
Territorial Bancorp, Inc. | 2,571 | 54,531 |
Texas Capital Bancshares, Inc. * | 17,582 | 791,190 |
TFS Financial Corp. | 19,782 | 310,775 |
The Bancorp, Inc. * | 15,734 | 151,046 |
The Bank of Princeton | 1,521 | 29,918 |
The Community Financial Corp. | 1,476 | 32,251 |
The First BanCorp, Inc. | 3,885 | 89,860 |
The First Bancshares, Inc. | 8,998 | 214,512 |
The First of Long Island Corp. | 9,143 | 141,076 |
The Hingham Institution For Savings | 534 | 107,852 |
The PNC Financial Services Group, Inc. | 146,881 | 16,433,046 |
Timberland Bancorp, Inc. | 2,502 | 47,663 |
Tompkins Financial Corp. | 4,024 | 225,304 |
Towne Bank | 22,138 | 402,469 |
TriCo Bancshares | 9,785 | 283,080 |
TriState Capital Holdings, Inc. * | 7,935 | 99,902 |
Triumph Bancorp, Inc. * | 8,044 | 338,894 |
Truist Financial Corp. | 468,133 | 19,717,762 |
TrustCo Bank Corp. | 36,703 | 201,683 |
Trustmark Corp. | 23,087 | 540,005 |
U.S. Bancorp | 474,411 | 18,478,308 |
UMB Financial Corp. | 15,587 | 948,781 |
Umpqua Holdings Corp. | 75,835 | 952,488 |
Union Bankshares, Inc. | 1,200 | 24,936 |
United Bankshares, Inc. | 44,335 | 1,162,907 |
United Community Banks, Inc. | 27,233 | 570,259 |
United Security Bancshares | 4,123 | 25,645 |
Unity Bancorp, Inc. | 2,299 | 32,232 |
Univest Financial Corp. | 11,205 | 177,711 |
Valley National Bancorp | 137,428 | 1,049,950 |
Veritex Holdings, Inc. | 15,506 | 305,933 |
Walker & Dunlop, Inc. | 10,059 | 632,510 |
Washington Federal, Inc. | 26,742 | 569,337 |
Washington Trust Bancorp, Inc. | 4,849 | 163,751 |
Waterstone Financial, Inc. | 9,659 | 163,044 |
Webster Financial Corp. | 32,488 | 1,046,438 |
Wells Fargo & Co. | 1,429,403 | 30,660,694 |
WesBanco, Inc. | 23,047 | 559,812 |
West Bancorp, Inc. | 4,641 | 76,994 |
Westamerica Bancorp | 9,950 | 521,081 |
Western Alliance Bancorp | 35,203 | 1,450,364 |
Western New England Bancorp, Inc. | 10,349 | 59,610 |
Wintrust Financial Corp. | 20,500 | 1,009,215 |
WSFS Financial Corp. | 17,604 | 557,871 |
Zions Bancorp NA | 58,333 | 1,882,406 |
425,034,459 | ||
Capital Goods 5.9% | ||
3M Co. | 199,711 | 31,945,772 |
A.O. Smith Corp. | 46,694 | 2,413,613 |
AAON, Inc. | 14,695 | 858,335 |
AAR Corp. | 12,256 | 238,502 |
Acuity Brands, Inc. | 14,092 | 1,256,161 |
Advanced Drainage Systems, Inc. | 17,142 | 1,087,317 |
Security | Number of Shares | Value ($) |
AECOM * | 56,738 | 2,544,132 |
Aegion Corp. * | 12,259 | 172,974 |
Aerojet Rocketdyne Holdings, Inc. * | 26,090 | 845,838 |
Aerovironment, Inc. * | 7,884 | 602,022 |
AGCO Corp. | 21,548 | 1,659,842 |
AgEagle Aerial Systems, Inc. *(a) | 25,454 | 50,399 |
Air Lease Corp. | 36,625 | 997,665 |
Alamo Group, Inc. | 3,373 | 405,873 |
Albany International Corp., Class A | 10,638 | 541,900 |
Allegion plc | 31,731 | 3,125,503 |
Allied Motion Technologies, Inc. | 1,959 | 74,011 |
Allison Transmission Holdings, Inc. | 37,992 | 1,373,411 |
Alpha Pro Tech Ltd. *(a) | 4,213 | 59,782 |
Alta Equipment Group, Inc. * | 11,534 | 87,889 |
Altra Industrial Motion Corp. | 21,713 | 928,448 |
Ameresco, Inc., Class A * | 5,440 | 208,842 |
American Superconductor Corp. * | 5,600 | 77,896 |
American Woodmark Corp. * | 5,572 | 460,303 |
AMETEK, Inc. | 79,963 | 7,852,367 |
API Group Corp. * | 44,126 | 634,973 |
Apogee Enterprises, Inc. | 9,481 | 226,501 |
Applied Industrial Technologies, Inc. | 13,758 | 839,926 |
Arcosa, Inc. | 17,207 | 794,447 |
Argan, Inc. | 4,405 | 181,442 |
Armstrong Flooring, Inc. * | 7,547 | 22,339 |
Armstrong World Industries, Inc. | 16,797 | 1,006,140 |
Astec Industries, Inc. | 8,809 | 447,497 |
Astronics Corp. * | 7,122 | 45,581 |
Atkore International Group, Inc. * | 15,845 | 327,833 |
Axon Enterprise, Inc. * | 22,067 | 2,182,426 |
AZZ, Inc. | 9,021 | 303,015 |
Babcock & Wilcox Enterprises, Inc. * | 12,254 | 29,042 |
Barnes Group, Inc. | 16,937 | 621,588 |
Beacon Roofing Supply, Inc. * | 18,990 | 582,993 |
Bloom Energy Corp., Class A * | 28,436 | 359,431 |
Blue Bird Corp. * | 6,024 | 69,517 |
BlueLinx Holdings, Inc. * | 2,241 | 49,257 |
BMC Stock Holdings, Inc. * | 24,109 | 954,475 |
Builders FirstSource, Inc. * | 41,981 | 1,272,024 |
BWX Technologies, Inc. | 33,686 | 1,853,067 |
CAI International, Inc. | 4,600 | 121,210 |
Carlisle Cos., Inc. | 19,363 | 2,398,495 |
Carrier Global Corp. | 282,644 | 9,437,483 |
Caterpillar, Inc. | 187,654 | 29,471,061 |
Chart Industries, Inc. * | 12,575 | 1,061,959 |
CIRCOR International, Inc. * | 7,526 | 209,975 |
Colfax Corp. * | 33,216 | 903,143 |
Columbus McKinnon Corp. | 8,311 | 281,660 |
Comfort Systems USA, Inc. | 12,917 | 591,599 |
Commercial Vehicle Group, Inc. * | 7,300 | 42,705 |
Concrete Pumping Holdings, Inc. * | 15,505 | 50,081 |
Construction Partners, Inc., Class A * | 12,670 | 258,215 |
Cornerstone Building Brands, Inc. * | 14,252 | 109,313 |
CPI Aerostructures, Inc. * | 6,418 | 14,633 |
Crane Co. | 17,455 | 885,841 |
CSW Industrials, Inc. | 4,946 | 423,031 |
Cubic Corp. | 10,678 | 631,177 |
Cummins, Inc. | 51,000 | 11,214,390 |
Curtiss-Wright Corp. | 14,821 | 1,250,300 |
Deere & Co. | 108,547 | 24,521,853 |
Donaldson Co., Inc. | 44,111 | 2,095,273 |
Douglas Dynamics, Inc. | 7,724 | 263,466 |
Dover Corp. | 49,480 | 5,477,931 |
Ducommun, Inc. * | 3,200 | 105,280 |
DXP Enterprises, Inc. * | 4,731 | 73,993 |
Dycom Industries, Inc. * | 11,476 | 745,251 |
Eaton Corp. plc | 138,365 | 14,360,903 |
EMCOR Group, Inc. | 18,640 | 1,271,062 |
Security | Number of Shares | Value ($) |
Emerson Electric Co. | 207,476 | 13,442,370 |
Encore Wire Corp. | 7,393 | 341,631 |
Energous Corp. *(a) | 5,300 | 12,243 |
Energy Recovery, Inc. * | 9,780 | 94,768 |
Enerpac Tool Group Corp. | 19,179 | 341,962 |
EnerSys | 15,369 | 1,100,420 |
EnPro Industries, Inc. | 7,727 | 456,048 |
ESCO Technologies, Inc. | 9,626 | 805,600 |
EVI Industries, Inc. *(a) | 1,400 | 40,894 |
Evoqua Water Technologies Corp. * | 29,172 | 668,914 |
Fastenal Co. | 199,470 | 8,623,088 |
Federal Signal Corp. | 21,858 | 626,887 |
Flowserve Corp. | 45,825 | 1,334,424 |
Fluor Corp. | 43,412 | 492,726 |
Fortive Corp. | 116,297 | 7,163,895 |
Fortune Brands Home & Security, Inc. | 48,739 | 3,941,523 |
Foundation Building Materials, Inc. * | 5,200 | 75,712 |
Franklin Electric Co., Inc. | 14,084 | 841,237 |
FreightCar America, Inc. * | 3,100 | 4,681 |
FuelCell Energy, Inc. *(a) | 79,457 | 158,914 |
Gates Industrial Corp. plc * | 17,841 | 198,035 |
GATX Corp. | 12,164 | 830,558 |
Gencor Industries, Inc. * | 3,540 | 40,922 |
Generac Holdings, Inc. * | 21,799 | 4,581,060 |
General Dynamics Corp. | 80,734 | 10,602,796 |
General Electric Co. | 3,041,011 | 22,564,302 |
General Finance Corp. * | 9,231 | 60,463 |
Gibraltar Industries, Inc. * | 11,446 | 657,573 |
GMS, Inc. * | 14,254 | 322,140 |
Graco, Inc. | 57,168 | 3,538,699 |
GrafTech International Ltd. | 28,935 | 195,311 |
Graham Corp. | 2,809 | 37,079 |
Granite Construction, Inc. | 17,068 | 329,583 |
Great Lakes Dredge & Dock Corp. * | 26,015 | 268,735 |
Griffon Corp. | 14,664 | 314,396 |
H&E Equipment Services, Inc. | 9,632 | 202,657 |
HC2 Holdings, Inc. * | 22,677 | 48,756 |
HD Supply Holdings, Inc. * | 56,799 | 2,264,008 |
HEICO Corp. | 14,768 | 1,551,378 |
HEICO Corp., Class A | 25,589 | 2,392,571 |
Helios Technologies, Inc. | 10,858 | 454,299 |
Herc Holdings, Inc. * | 8,885 | 394,139 |
Hexcel Corp. | 29,991 | 1,004,099 |
Hillenbrand, Inc. | 25,607 | 749,005 |
Honeywell International, Inc. | 243,669 | 40,193,202 |
Houston Wire & Cable Co. * | 8,228 | 22,627 |
Howmet Aerospace, Inc. | 135,318 | 2,334,235 |
Hubbell, Inc. | 18,787 | 2,733,696 |
Huntington Ingalls Industries, Inc. | 14,154 | 2,087,432 |
Hurco Cos., Inc. | 2,000 | 59,680 |
Hyster-Yale Materials Handling, Inc. | 3,600 | 152,640 |
IDEX Corp. | 25,901 | 4,413,271 |
IES Holdings, Inc. * | 6,277 | 200,362 |
Illinois Tool Works, Inc. | 99,607 | 19,511,019 |
Ingersoll Rand, Inc. * | 127,283 | 4,447,268 |
Insteel Industries, Inc. | 5,095 | 110,867 |
ITT, Inc. | 30,097 | 1,821,169 |
Jacobs Engineering Group, Inc. | 45,074 | 4,282,030 |
JELD-WEN Holding, Inc. * | 24,661 | 518,621 |
John Bean Technologies Corp. | 10,923 | 917,204 |
Johnson Controls International plc | 259,643 | 10,959,531 |
Kadant, Inc. | 3,843 | 442,406 |
Kaman Corp. | 10,367 | 411,155 |
Kennametal, Inc. | 29,530 | 915,430 |
Kratos Defense & Security Solutions, Inc. * | 42,995 | 812,176 |
L.B. Foster Co., Class A * | 3,200 | 43,392 |
L3Harris Technologies, Inc. | 75,452 | 12,156,072 |
Security | Number of Shares | Value ($) |
Lawson Products, Inc. * | 3,088 | 127,256 |
Lennox International, Inc. | 12,002 | 3,260,463 |
Lincoln Electric Holdings, Inc. | 20,851 | 2,123,049 |
Lindsay Corp. | 3,692 | 388,768 |
LiqTech International, Inc. * | 5,399 | 40,331 |
Lockheed Martin Corp. | 85,422 | 29,908,805 |
LSI Industries, Inc. | 6,398 | 43,762 |
Lydall, Inc. * | 5,500 | 108,845 |
Manitex International, Inc. * | 4,549 | 18,696 |
Masco Corp. | 91,563 | 4,907,777 |
Masonite International Corp. * | 8,921 | 785,048 |
MasTec, Inc. * | 19,719 | 978,851 |
Maxar Technologies, Inc. | 21,013 | 541,505 |
Mayville Engineering Co., Inc. * | 7,805 | 69,543 |
Mercury Systems, Inc. * | 19,567 | 1,347,775 |
Meritor, Inc. * | 25,068 | 610,155 |
Miller Industries, Inc. | 3,410 | 102,095 |
Moog, Inc., Class A | 10,511 | 655,781 |
MRC Global, Inc. * | 31,160 | 132,742 |
MSC Industrial Direct Co., Inc., Class A | 16,366 | 1,140,056 |
Mueller Industries, Inc. | 19,369 | 560,345 |
Mueller Water Products, Inc., Class A | 58,841 | 609,593 |
MYR Group, Inc. * | 7,674 | 328,064 |
National Presto Industries, Inc. | 1,664 | 138,262 |
Navistar International Corp. * | 17,353 | 748,088 |
Nikola Corp. *(a) | 47,203 | 864,287 |
NN, Inc. * | 15,065 | 80,748 |
Nordson Corp. | 18,744 | 3,625,652 |
Northrop Grumman Corp. | 53,900 | 15,621,298 |
Northwest Pipe Co. * | 2,896 | 77,613 |
NOW, Inc. * | 38,877 | 158,229 |
NV5 Global, Inc. * | 3,797 | 212,936 |
nVent Electric plc | 58,169 | 1,049,950 |
Omega Flex, Inc. | 1,330 | 199,101 |
Orion Energy Systems, Inc. * | 14,948 | 95,966 |
Orion Group Holdings, Inc. * | 8,139 | 26,533 |
Oshkosh Corp. | 23,664 | 1,594,007 |
Otis Worldwide Corp. | 140,676 | 8,620,625 |
Owens Corning | 38,229 | 2,502,853 |
PACCAR, Inc. | 119,507 | 10,203,508 |
PAE, Inc. * | 17,793 | 140,921 |
Park Aerospace Corp. | 6,594 | 69,830 |
Park-Ohio Holdings Corp. | 3,600 | 71,064 |
Parker-Hannifin Corp. | 44,627 | 9,298,482 |
Parsons Corp. * | 6,853 | 216,007 |
Pentair plc | 57,515 | 2,861,946 |
PGT Innovations, Inc. * | 19,928 | 330,406 |
Plug Power, Inc. * | 138,852 | 1,943,928 |
Powell Industries, Inc. | 2,862 | 67,629 |
Preformed Line Products Co. | 1,000 | 55,030 |
Primoris Services Corp. | 13,997 | 264,123 |
Proto Labs, Inc. * | 9,622 | 1,136,166 |
Quanex Building Products Corp. | 10,061 | 183,110 |
Quanta Services, Inc. | 48,477 | 3,026,419 |
Raven Industries, Inc. | 11,752 | 257,604 |
Raytheon Technologies Corp. | 530,617 | 28,823,115 |
RBC Bearings, Inc. * | 8,636 | 1,028,116 |
Regal Beloit Corp. | 14,536 | 1,433,976 |
Resideo Technologies, Inc. * | 41,983 | 423,189 |
REV Group, Inc. | 7,500 | 58,875 |
Rexnord Corp. | 42,363 | 1,359,005 |
Rockwell Automation, Inc. | 40,167 | 9,524,399 |
Roper Technologies, Inc. | 36,532 | 13,565,793 |
Rush Enterprises, Inc., Class A | 16,089 | 576,630 |
Rush Enterprises, Inc., Class B | 1,125 | 35,381 |
Sensata Technologies Holding plc * | 55,015 | 2,404,706 |
Simpson Manufacturing Co., Inc. | 14,597 | 1,295,046 |
SiteOne Landscape Supply, Inc. * | 15,679 | 1,873,484 |
Security | Number of Shares | Value ($) |
Snap-on, Inc. | 18,931 | 2,982,200 |
Spirit AeroSystems Holdings, Inc., Class A | 37,936 | 690,056 |
SPX Corp. * | 16,928 | 717,578 |
SPX FLOW, Inc. * | 15,093 | 639,189 |
Standex International Corp. | 4,408 | 273,693 |
Stanley Black & Decker, Inc. | 55,084 | 9,154,961 |
Sterling Construction Co., Inc. * | 7,334 | 107,810 |
Sunrun, Inc. * | 52,544 | 2,733,339 |
Systemax, Inc. | 3,800 | 108,034 |
Teledyne Technologies, Inc. * | 12,967 | 4,008,748 |
Tennant Co. | 7,027 | 418,950 |
Terex Corp. | 21,913 | 541,032 |
Textron, Inc. | 80,856 | 2,894,645 |
The AZEK Co., Inc. * | 24,902 | 832,723 |
The Boeing Co. | 184,114 | 26,584,220 |
The Eastern Co. | 1,864 | 38,156 |
The ExOne Co. *(a) | 4,754 | 47,778 |
The Gorman-Rupp Co. | 5,933 | 184,220 |
The Greenbrier Cos., Inc. | 11,186 | 301,798 |
The Manitowoc Co., Inc. * | 12,331 | 92,852 |
The Middleby Corp. * | 19,159 | 1,907,087 |
The Shyft Group Inc | 9,445 | 182,383 |
The Timken Co. | 24,132 | 1,440,680 |
The Toro Co. | 36,915 | 3,030,721 |
Thermon Group Holdings, Inc. * | 13,548 | 136,699 |
Titan International, Inc. | 13,787 | 37,914 |
Titan Machinery, Inc. * | 5,599 | 83,929 |
TPI Composites, Inc. * | 10,617 | 351,635 |
Trane Technologies plc | 83,507 | 11,085,554 |
Transcat, Inc. * | 2,013 | 62,222 |
TransDigm Group, Inc. | 18,708 | 8,931,386 |
Trex Co., Inc. * | 41,186 | 2,864,074 |
TriMas Corp. * | 15,539 | 378,064 |
Trinity Industries, Inc. | 33,570 | 632,459 |
Triton International Ltd. | 19,078 | 703,597 |
Triumph Group, Inc. | 16,938 | 111,791 |
Tutor Perini Corp. * | 11,769 | 158,999 |
Twin Disc, Inc. * | 3,405 | 17,229 |
UFP Industries, Inc. | 21,520 | 1,074,063 |
Ultralife Corp. * | 4,422 | 22,818 |
United Rentals, Inc. * | 25,168 | 4,487,203 |
Univar Solutions, Inc. * | 57,972 | 961,755 |
Valmont Industries, Inc. | 7,730 | 1,097,274 |
Vectrus, Inc. * | 4,452 | 175,943 |
Veritiv Corp. * | 3,278 | 47,203 |
Vertiv Holdings Co. * | 73,000 | 1,288,450 |
Vicor Corp. * | 6,877 | 536,406 |
Virgin Galactic Holdings, Inc. *(a) | 44,026 | 766,933 |
W.W. Grainger, Inc. | 15,476 | 5,416,910 |
Wabash National Corp. | 19,725 | 281,279 |
Watsco, Inc. | 11,461 | 2,568,869 |
Watts Water Technologies, Inc., Class A | 10,137 | 1,122,875 |
Welbilt, Inc. * | 46,762 | 284,313 |
WESCO International, Inc. * | 15,552 | 641,364 |
Westinghouse Air Brake Technologies Corp. | 62,547 | 3,709,037 |
Willis Lease Finance Corp. * | 1,177 | 24,964 |
WillScot Mobile Mini Holdings Corp. * | 59,769 | 1,110,508 |
Woodward, Inc. | 20,023 | 1,592,830 |
Xylem, Inc. | 62,103 | 5,411,655 |
679,683,978 | ||
Commercial & Professional Services 1.1% | ||
ABM Industries, Inc. | 23,031 | 799,636 |
Acacia Research Corp. * | 15,357 | 48,375 |
ACCO Brands Corp. | 34,735 | 183,053 |
Security | Number of Shares | Value ($) |
ADT, Inc. | 52,827 | 348,130 |
Aqua Metals, Inc. * | 12,685 | 11,290 |
ASGN, Inc. * | 18,496 | 1,233,313 |
Barrett Business Services, Inc. | 3,084 | 182,727 |
BG Staffing, Inc. | 1,811 | 14,434 |
Brady Corp., Class A | 17,257 | 650,934 |
BrightView Holdings, Inc. * | 11,485 | 140,462 |
Casella Waste Systems, Inc., Class A * | 15,213 | 821,350 |
CBIZ, Inc. * | 19,217 | 435,649 |
CECO Environmental Corp. * | 9,324 | 66,014 |
Cimpress plc * | 6,836 | 501,762 |
Cintas Corp. | 30,008 | 9,439,016 |
Clean Harbors, Inc. * | 18,469 | 978,303 |
Copart, Inc. * | 72,294 | 7,978,366 |
CoreLogic, Inc. | 27,679 | 2,129,345 |
CoStar Group, Inc. * | 13,741 | 11,317,225 |
Covanta Holding Corp. | 44,230 | 401,608 |
CRA International, Inc. | 2,542 | 104,095 |
Deluxe Corp. | 14,100 | 302,304 |
DLH Holdings Corp. * | 7,975 | 71,456 |
Dun & Bradstreet Holdings, Inc. * | 44,680 | 1,154,531 |
Ennis, Inc. | 8,919 | 135,926 |
Equifax, Inc. | 42,140 | 5,756,324 |
Exponent, Inc. | 17,886 | 1,244,687 |
Forrester Research, Inc. * | 3,376 | 124,709 |
Franklin Covey Co. * | 2,861 | 48,408 |
FTI Consulting, Inc. * | 12,642 | 1,244,731 |
GP Strategies Corp. * | 5,086 | 49,080 |
Harsco Corp. * | 28,455 | 367,069 |
Healthcare Services Group, Inc. | 26,959 | 616,822 |
Heidrick & Struggles International, Inc. | 5,759 | 131,593 |
Heritage-Crystal Clean, Inc. * | 3,533 | 58,224 |
Herman Miller, Inc. | 20,697 | 630,638 |
Hill International, Inc. * | 13,292 | 17,545 |
HNI Corp. | 16,018 | 521,386 |
Hudson Technologies, Inc. * | 14,328 | 14,901 |
Huron Consulting Group, Inc. * | 8,402 | 318,100 |
IAA, Inc. * | 46,894 | 2,653,731 |
ICF International, Inc. | 6,209 | 406,007 |
IHS Markit Ltd. | 129,466 | 10,469,915 |
Insperity, Inc. | 12,232 | 936,727 |
Interface, Inc. | 19,952 | 122,306 |
KAR Auction Services, Inc. | 44,400 | 646,464 |
Kelly Services, Inc., Class A | 13,781 | 239,514 |
Kforce, Inc. | 6,775 | 235,092 |
Kimball International, Inc., Class B | 11,882 | 122,385 |
Knoll, Inc. | 15,973 | 183,051 |
Korn Ferry | 18,537 | 559,632 |
ManpowerGroup, Inc. | 20,515 | 1,392,353 |
Mastech Digital, Inc. * | 1,998 | 31,329 |
Matthews International Corp., Class A | 10,170 | 222,011 |
McGrath RentCorp | 8,505 | 485,465 |
Mistras Group, Inc. * | 11,187 | 41,616 |
Montrose Environmental Group, Inc. * | 2,382 | 64,385 |
MSA Safety, Inc. | 12,644 | 1,667,996 |
Nielsen Holdings plc | 126,949 | 1,715,081 |
PICO Holdings, Inc. * | 7,559 | 62,513 |
Pitney Bowes, Inc. | 56,836 | 301,799 |
Quad Graphics, Inc. | 9,800 | 22,246 |
Red Violet, Inc. * | 1,276 | 26,541 |
Republic Services, Inc. | 73,046 | 6,440,466 |
Resources Connection, Inc. | 11,300 | 121,362 |
Robert Half International, Inc. | 39,611 | 2,007,882 |
Rollins, Inc. | 51,053 | 2,953,416 |
RR Donnelley & Sons Co. | 19,875 | 23,254 |
SP Plus Corp. * | 8,482 | 156,323 |
Steelcase, Inc., Class A | 33,780 | 352,663 |
Stericycle, Inc. * | 32,254 | 2,009,424 |
Security | Number of Shares | Value ($) |
Team, Inc. * | 12,824 | 68,737 |
Tetra Tech, Inc. | 19,290 | 1,946,554 |
The Brink's Co. | 18,917 | 810,215 |
TransUnion | 66,441 | 5,292,690 |
TriNet Group, Inc. * | 13,905 | 958,333 |
TrueBlue, Inc. * | 14,540 | 225,661 |
U.S. Ecology, Inc. | 10,370 | 316,492 |
UniFirst Corp. | 5,416 | 887,195 |
Upwork, Inc. * | 28,081 | 518,094 |
Verisk Analytics, Inc. | 56,293 | 10,018,465 |
Viad Corp. | 7,132 | 142,640 |
VSE Corp. | 2,601 | 75,325 |
Waste Management, Inc. | 134,448 | 14,508,284 |
Willdan Group, Inc. * | 4,309 | 112,767 |
123,147,922 | ||
Consumer Durables & Apparel 1.5% | ||
Acushnet Holdings Corp. | 11,316 | 386,215 |
American Outdoor Brands, Inc. * | 4,639 | 70,188 |
Bassett Furniture Industries, Inc. | 5,330 | 78,671 |
Beazer Homes USA, Inc. * | 12,172 | 148,255 |
Brunswick Corp. | 27,707 | 1,765,213 |
Callaway Golf Co. | 33,432 | 517,862 |
Capri Holdings Ltd. * | 53,797 | 1,141,572 |
Carter's, Inc. | 15,451 | 1,258,484 |
Casper Sleep, Inc. * | 8,500 | 56,355 |
Cavco Industries, Inc. * | 3,109 | 535,183 |
Century Communities, Inc. * | 9,960 | 386,846 |
Clarus Corp. | 6,026 | 93,463 |
Columbia Sportswear Co. | 10,217 | 762,086 |
Crocs, Inc. * | 23,515 | 1,230,540 |
Culp, Inc. | 5,320 | 66,021 |
D.R. Horton, Inc. | 115,224 | 7,698,115 |
Deckers Outdoor Corp. * | 9,883 | 2,504,056 |
Delta Apparel, Inc. * | 1,907 | 31,752 |
Escalade, Inc. | 3,955 | 73,603 |
Ethan Allen Interiors, Inc. | 7,327 | 117,598 |
Flexsteel Industries, Inc. | 1,900 | 53,105 |
Fossil Group, Inc. * | 12,996 | 74,207 |
G-III Apparel Group Ltd. * | 15,332 | 206,675 |
Garmin Ltd. | 51,409 | 5,347,564 |
Genius Brands International, Inc. *(a) | 85,113 | 89,369 |
GoPro, Inc., Class A * | 49,702 | 295,230 |
Green Brick Partners, Inc. * | 16,600 | 296,974 |
Hamilton Beach Brands Holding Co., Class A | 1,750 | 38,588 |
Hanesbrands, Inc. | 124,043 | 1,993,371 |
Hasbro, Inc. | 44,106 | 3,648,448 |
Helen of Troy Ltd. * | 8,762 | 1,661,275 |
Hooker Furniture Corp. | 5,161 | 141,928 |
Hovnanian Enterprises, Inc., Class A * | 2,020 | 64,155 |
Installed Building Products, Inc. * | 7,447 | 674,251 |
iRobot Corp. * | 9,703 | 772,165 |
Johnson Outdoors, Inc., Class A | 2,482 | 216,753 |
KB Home | 31,792 | 1,025,292 |
Kontoor Brands, Inc. * | 15,411 | 507,022 |
La-Z-Boy, Inc. | 16,047 | 549,289 |
Lakeland Industries, Inc. * | 1,417 | 30,565 |
Legacy Housing Corp. * | 5,534 | 75,318 |
Leggett & Platt, Inc. | 47,048 | 1,963,313 |
Lennar Corp., Class A | 99,675 | 7,000,175 |
Levi Strauss & Co., Class A | 20,425 | 322,307 |
LGI Homes, Inc. * | 7,676 | 820,411 |
Lifetime Brands, Inc. | 5,000 | 50,250 |
Lululemon Athletica, Inc. * | 40,959 | 13,077,799 |
M.D.C. Holdings, Inc. | 18,241 | 793,848 |
M/I Homes, Inc. * | 9,900 | 405,108 |
Security | Number of Shares | Value ($) |
Malibu Boats, Inc., Class A * | 7,676 | 390,171 |
Marine Products Corp. | 9,303 | 147,546 |
MasterCraft Boat Holdings, Inc. * | 8,275 | 170,631 |
Mattel, Inc. * | 120,498 | 1,659,257 |
Meritage Homes Corp. * | 13,020 | 1,133,912 |
Mohawk Industries, Inc. * | 20,597 | 2,125,404 |
Movado Group, Inc. | 5,167 | 56,372 |
Nautilus, Inc. * | 11,457 | 248,502 |
Newell Brands, Inc. | 131,698 | 2,325,787 |
NIKE, Inc., Class B | 431,771 | 51,847,062 |
NVR, Inc. * | 1,222 | 4,830,676 |
Oxford Industries, Inc. | 5,331 | 219,477 |
Peloton Interactive, Inc., Class A * | 71,196 | 7,846,511 |
Polaris, Inc. | 19,866 | 1,805,025 |
PulteGroup, Inc. | 91,847 | 3,743,684 |
Purple Innovation, Inc. * | 8,392 | 238,081 |
PVH Corp. | 25,053 | 1,460,339 |
Ralph Lauren Corp. | 17,193 | 1,149,352 |
Rocky Brands, Inc. | 1,800 | 48,420 |
Skechers U.S.A., Inc., Class A * | 46,669 | 1,479,874 |
Skyline Champion Corp. * | 17,394 | 446,156 |
Smith & Wesson Brands, Inc. | 18,556 | 307,844 |
Sonos, Inc. * | 28,758 | 419,867 |
Steven Madden Ltd. | 27,804 | 667,574 |
Sturm, Ruger & Co., Inc. | 6,025 | 402,831 |
Superior Group of Cos., Inc. | 3,200 | 69,184 |
Tapestry, Inc. | 98,783 | 2,195,946 |
Taylor Morrison Home Corp. * | 44,548 | 962,237 |
Tempur Sealy International, Inc. * | 16,333 | 1,453,637 |
The Lovesac Co. * | 4,280 | 110,167 |
Toll Brothers, Inc. | 40,623 | 1,717,540 |
TopBuild Corp. * | 11,448 | 1,753,948 |
TRI Pointe Group, Inc. * | 47,999 | 788,624 |
Tupperware Brands Corp. * | 17,130 | 543,364 |
Turtle Beach Corp. * | 2,910 | 52,438 |
Under Armour, Inc., Class A * | 66,741 | 923,695 |
Under Armour, Inc., Class C * | 67,872 | 830,075 |
Unifi, Inc. * | 4,248 | 63,678 |
Universal Electronics, Inc. * | 5,443 | 201,718 |
Vera Bradley, Inc. * | 5,909 | 37,463 |
VF Corp. | 111,284 | 7,478,285 |
Vista Outdoor, Inc. * | 20,869 | 412,580 |
VOXX International Corp. * | 12,288 | 139,223 |
Vuzix Corp. *(a) | 7,800 | 30,732 |
Whirlpool Corp. | 21,645 | 4,003,459 |
Wolverine World Wide, Inc. | 27,313 | 728,438 |
YETI Holdings, Inc. * | 24,813 | 1,227,747 |
ZAGG, Inc. * | 8,000 | 22,800 |
172,034,166 | ||
Consumer Services 1.9% | ||
Accel Entertainment, Inc. * | 14,847 | 142,531 |
Adtalem Global Education, Inc. * | 18,133 | 425,038 |
American Public Education, Inc. * | 5,600 | 158,312 |
Aramark | 89,486 | 2,482,342 |
Aspen Group, Inc. * | 4,985 | 46,759 |
Biglari Holdings, Inc., Class B * | 678 | 56,796 |
BJ's Restaurants, Inc. | 6,735 | 189,994 |
Bloomin' Brands, Inc. | 28,402 | 397,060 |
Bluegreen Vacations Corp. | 2,223 | 10,826 |
Bluegreen Vacations Holding Corp. | 4,084 | 33,285 |
Boyd Gaming Corp. | 29,221 | 926,890 |
Bright Horizons Family Solutions, Inc. * | 20,951 | 3,311,306 |
Brinker International, Inc. | 16,470 | 717,104 |
Caesars Entertainment, Inc. * | 69,250 | 3,103,785 |
Carnival Corp. | 176,566 | 2,420,720 |
Carriage Services, Inc. | 6,911 | 178,373 |
Security | Number of Shares | Value ($) |
Carrols Restaurant Group, Inc. * | 10,038 | 58,722 |
Century Casinos, Inc. * | 7,935 | 37,374 |
Chegg, Inc. * | 42,287 | 3,105,557 |
Chipotle Mexican Grill, Inc. * | 9,667 | 11,614,707 |
Choice Hotels International, Inc. | 10,703 | 934,907 |
Churchill Downs, Inc. | 12,538 | 1,870,043 |
Chuy's Holdings, Inc. * | 5,160 | 108,308 |
Collectors Universe, Inc. | 2,500 | 137,325 |
Cracker Barrel Old Country Store, Inc. | 8,495 | 966,901 |
Darden Restaurants, Inc. | 45,178 | 4,152,762 |
Dave & Buster's Entertainment, Inc. | 17,879 | 306,804 |
Del Taco Restaurants, Inc. * | 10,395 | 77,079 |
Denny's Corp. * | 21,100 | 189,056 |
Dine Brands Global, Inc. | 5,538 | 284,930 |
Domino's Pizza, Inc. | 13,784 | 5,214,763 |
DraftKings, Inc., Class A * | 105,032 | 3,718,133 |
Drive Shack, Inc. * | 17,215 | 25,306 |
Dunkin' Brands Group, Inc. | 28,781 | 2,869,753 |
El Pollo Loco Holdings, Inc. * | 6,221 | 87,841 |
Everi Holdings, Inc. * | 27,873 | 239,987 |
Extended Stay America, Inc. | 57,909 | 657,267 |
Fiesta Restaurant Group, Inc. * | 7,980 | 68,947 |
Franchise Group, Inc. | 8,499 | 194,797 |
frontdoor, Inc. * | 30,234 | 1,197,871 |
Golden Entertainment, Inc. * | 6,136 | 78,909 |
Graham Holdings Co., Class B | 1,524 | 579,638 |
Grand Canyon Education, Inc. * | 17,002 | 1,332,447 |
H&R Block, Inc. | 67,923 | 1,172,351 |
Hilton Grand Vacations, Inc. * | 29,833 | 614,560 |
Hilton Worldwide Holdings, Inc. | 96,409 | 8,465,674 |
Houghton Mifflin Harcourt Co. * | 50,294 | 131,267 |
Hyatt Hotels Corp., Class A | 12,399 | 683,681 |
Inspired Entertainment, Inc. * | 6,626 | 26,504 |
J Alexander's Holdings, Inc. * | 6,429 | 35,745 |
Jack in the Box, Inc. | 8,383 | 671,143 |
K12, Inc. * | 14,172 | 338,286 |
Las Vegas Sands Corp. | 114,067 | 5,482,060 |
Laureate Education, Inc., Class A * | 35,961 | 467,493 |
Lincoln Educational Services Corp. * | 10,364 | 48,400 |
Lindblad Expeditions Holdings, Inc. * | 7,500 | 62,400 |
Marriott International, Inc., Class A | 92,345 | 8,577,004 |
Marriott Vacations Worldwide Corp. | 13,914 | 1,344,092 |
McDonald's Corp. | 258,413 | 55,041,969 |
MGM Resorts International | 142,318 | 2,927,481 |
Monarch Casino & Resort, Inc. * | 4,320 | 187,445 |
Nathan's Famous, Inc. | 842 | 42,740 |
Noodles & Co. * | 12,000 | 77,520 |
Norwegian Cruise Line Holdings Ltd. * | 97,376 | 1,619,363 |
OneSpaWorld Holdings Ltd. | 12,005 | 74,551 |
Papa John's International, Inc. | 10,763 | 824,446 |
Penn National Gaming, Inc. * | 50,023 | 2,700,242 |
Perdoceo Education Corp. * | 25,565 | 288,629 |
Planet Fitness, Inc., Class A * | 28,383 | 1,682,260 |
Playa Hotels & Resorts N.V. * | 16,595 | 64,223 |
PlayAGS, Inc. * | 10,460 | 28,242 |
Potbelly Corp. * | 7,813 | 27,814 |
RCI Hospitality Holdings, Inc. | 2,500 | 53,500 |
Red Lion Hotels Corp. * | 7,000 | 12,110 |
Red Robin Gourmet Burgers, Inc. * | 3,624 | 43,633 |
Red Rock Resorts, Inc., Class A | 25,517 | 487,885 |
Regis Corp. * | 10,203 | 56,525 |
Royal Caribbean Cruises Ltd. | 61,184 | 3,452,001 |
Ruth's Hospitality Group, Inc. | 8,878 | 99,256 |
Scientific Games Corp., Class A * | 20,963 | 668,300 |
SeaWorld Entertainment, Inc. * | 16,778 | 369,452 |
Select Interior Concepts, Inc., Class A * | 7,504 | 51,928 |
Service Corp. International | 61,218 | 2,835,006 |
Shake Shack, Inc., Class A * | 12,805 | 864,594 |
Security | Number of Shares | Value ($) |
Six Flags Entertainment Corp. | 25,779 | 557,342 |
Starbucks Corp. | 405,239 | 35,239,583 |
Strategic Education, Inc. | 8,491 | 705,262 |
Target Hospitality Corp. * | 12,493 | 10,870 |
Terminix Global Holdings, Inc. * | 45,244 | 2,130,540 |
Texas Roadhouse, Inc. | 22,890 | 1,602,987 |
The Cheesecake Factory, Inc. | 14,852 | 441,401 |
The Wendy's Co. | 63,619 | 1,390,075 |
Twin River Worldwide Holdings, Inc. | 6,465 | 156,906 |
Universal Technical Institute, Inc. * | 13,059 | 59,941 |
Vail Resorts, Inc. | 14,111 | 3,274,316 |
Vivint Smart Home, Inc. * | 15,548 | 241,771 |
Wingstop, Inc. | 10,365 | 1,205,760 |
WW International, Inc. * | 16,524 | 349,648 |
Wyndham Destinations, Inc. | 29,925 | 976,453 |
Wyndham Hotels & Resorts, Inc. | 33,142 | 1,541,434 |
Wynn Resorts Ltd. | 33,622 | 2,435,241 |
XpresSpa Group, Inc. *(a) | 10,211 | 18,992 |
Yum! Brands, Inc. | 104,031 | 9,709,213 |
Zovio, Inc. * | 11,262 | 40,656 |
219,501,421 | ||
Diversified Financials 4.5% | ||
A-Mark Precious Metals, Inc. | 1,600 | 49,728 |
Affiliated Managers Group, Inc. | 16,448 | 1,239,686 |
AG Mortgage Investment Trust, Inc. | 14,385 | 37,545 |
AGNC Investment Corp. | 194,929 | 2,723,158 |
Alerus Financial Corp. | 3,156 | 67,886 |
Ally Financial, Inc. | 129,907 | 3,465,919 |
American Express Co. | 225,900 | 20,611,116 |
Ameriprise Financial, Inc. | 41,837 | 6,728,645 |
Annaly Capital Management, Inc. | 491,636 | 3,485,699 |
Anworth Mortgage Asset Corp. | 50,580 | 82,951 |
Apollo Commercial Real Estate Finance, Inc. | 51,018 | 443,857 |
Apollo Global Management, Inc. | 72,722 | 2,680,533 |
Arbor Realty Trust, Inc. | 31,801 | 375,888 |
Ares Commercial Real Estate Corp. | 10,752 | 100,101 |
Ares Management Corp., Class A | 31,371 | 1,326,993 |
Arlington Asset Investment Corp., Class A | 11,092 | 27,286 |
ARMOUR Residential REIT, Inc. | 22,015 | 210,023 |
Artisan Partners Asset Management, Inc., Class A | 21,284 | 852,637 |
Ashford, Inc. * | 868 | 4,475 |
Assetmark Financial Holdings, Inc. * | 4,688 | 99,151 |
Associated Capital Group, Inc., Class A | 1,241 | 39,836 |
B. Riley Financial, Inc. | 6,039 | 158,463 |
Berkshire Hathaway, Inc., Class B * | 688,318 | 138,971,404 |
BGC Partners, Inc., Class A | 93,111 | 274,677 |
BlackRock, Inc. | 49,218 | 29,491,918 |
Blackstone Mortgage Trust, Inc., Class A | 51,327 | 1,113,796 |
Blucora, Inc. * | 15,753 | 156,742 |
Brightsphere Investment Group, Inc. | 24,528 | 338,486 |
Broadmark Realty Capital, Inc. | 43,702 | 435,709 |
Cannae Holdings, Inc. * | 29,875 | 1,104,777 |
Capital One Financial Corp. | 159,206 | 11,634,774 |
Capstead Mortgage Corp. | 40,081 | 204,814 |
Cboe Global Markets, Inc. | 38,016 | 3,090,321 |
Cherry Hill Mortgage Investment Corp. | 7,830 | 71,723 |
Chimera Investment Corp. | 77,353 | 645,898 |
CME Group, Inc. | 124,611 | 18,781,370 |
Cohen & Steers, Inc. | 7,591 | 427,449 |
Colony Credit Real Estate, Inc. | 30,690 | 160,816 |
Cowen, Inc., Class A | 8,211 | 176,208 |
Credit Acceptance Corp. * | 4,421 | 1,317,988 |
Curo Group Holdings Corp. | 6,544 | 49,015 |
Security | Number of Shares | Value ($) |
Diamond Hill Investment Group, Inc. | 1,017 | 139,268 |
Discover Financial Services | 107,291 | 6,974,988 |
Donnelley Financial Solutions, Inc. * | 11,301 | 142,732 |
Dynex Capital, Inc. | 7,748 | 126,912 |
Eaton Vance Corp. | 38,920 | 2,327,027 |
Elevate Credit, Inc. * | 5,396 | 13,598 |
Ellington Financial, Inc. | 14,178 | 173,539 |
Ellington Residential Mortgage REIT | 2,688 | 28,573 |
Encore Capital Group, Inc. * | 10,375 | 331,274 |
Enova International, Inc. * | 12,153 | 186,549 |
Equitable Holdings, Inc. | 139,500 | 2,997,855 |
Evercore, Inc., Class A | 15,059 | 1,197,793 |
Exantas Capital Corp. | 9,433 | 17,734 |
EZCORP, Inc., Class A * | 14,614 | 65,178 |
FactSet Research Systems, Inc. | 13,214 | 4,050,091 |
Federated Hermes, Inc. | 34,115 | 815,348 |
FirstCash, Inc. | 14,771 | 768,683 |
Focus Financial Partners, Inc., Class A * | 12,062 | 440,384 |
Franklin Resources, Inc. | 93,146 | 1,746,487 |
GAMCO Investors, Inc., Class A | 2,351 | 28,917 |
Granite Point Mortgage Trust, Inc. | 19,886 | 134,032 |
Great Ajax Corp. | 5,175 | 39,744 |
Great Elm Capital Group, Inc. * | 11,791 | 22,875 |
Green Dot Corp., Class A * | 17,587 | 937,739 |
Greenhill & Co., Inc. | 6,539 | 84,549 |
Hamilton Lane, Inc., Class A | 10,109 | 704,597 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 25,759 | 1,078,014 |
Houlihan Lokey, Inc. | 17,123 | 1,073,612 |
Hunt Cos. Finance Trust, Inc. | 13,059 | 33,823 |
Interactive Brokers Group, Inc., Class A | 27,189 | 1,293,381 |
Intercontinental Exchange, Inc. | 194,297 | 18,341,637 |
Invesco Ltd. | 128,589 | 1,685,802 |
Invesco Mortgage Capital, Inc. | 61,827 | 166,933 |
Janus Henderson Group plc | 54,392 | 1,321,726 |
Jefferies Financial Group, Inc. | 76,318 | 1,488,964 |
KKR & Co., Inc. | 195,055 | 6,661,128 |
KKR Real Estate Finance Trust, Inc. | 8,629 | 144,191 |
Ladder Capital Corp. REIT | 36,027 | 270,202 |
Lazard Ltd., Class A | 40,739 | 1,371,682 |
LendingClub Corp. * | 20,331 | 94,946 |
LendingTree, Inc. * | 2,738 | 885,989 |
LPL Financial Holdings, Inc. | 27,937 | 2,233,004 |
MarketAxess Holdings, Inc. | 13,210 | 7,118,208 |
Marlin Business Services Corp. | 4,000 | 29,200 |
Medallion Financial Corp. * | 10,486 | 27,578 |
MFA Financial, Inc. | 152,167 | 429,111 |
Moelis & Co., Class A | 19,623 | 729,976 |
Moody's Corp. | 56,159 | 14,764,201 |
Morgan Stanley | 496,434 | 23,903,297 |
Morningstar, Inc. | 7,104 | 1,352,459 |
MSCI, Inc. | 29,114 | 10,185,242 |
Nasdaq, Inc. | 39,994 | 4,838,874 |
Navient Corp. | 62,470 | 500,385 |
Nelnet, Inc., Class A | 7,909 | 482,765 |
New Residential Investment Corp. | 144,632 | 1,084,740 |
New York Mortgage Trust, Inc. | 127,968 | 325,039 |
Nexpoint Real Estate Finance, Inc. | 3,462 | 47,464 |
Northern Trust Corp. | 72,275 | 5,656,964 |
OneMain Holdings, Inc. | 26,737 | 932,854 |
Open Lending Corp., Class A * | 19,380 | 503,105 |
Oportun Financial Corp. * | 3,745 | 49,808 |
Oppenheimer Holdings, Inc., Class A | 3,500 | 87,710 |
Orchid Island Capital, Inc. | 30,714 | 159,406 |
PennyMac Mortgage Investment Trust | 34,997 | 523,905 |
Piper Sandler Cos. | 5,280 | 440,616 |
PJT Partners, Inc., Class A | 7,493 | 506,976 |
PRA Group, Inc. * | 15,864 | 541,438 |
Security | Number of Shares | Value ($) |
Pzena Investment Management, Inc., Class A | 8,430 | 43,752 |
Raymond James Financial, Inc. | 42,692 | 3,263,376 |
Ready Capital Corp. | 12,925 | 145,277 |
Redwood Trust, Inc. | 43,139 | 366,681 |
Regional Management Corp. * | 3,000 | 60,960 |
S&P Global, Inc. | 83,518 | 26,953,764 |
Safeguard Scientifics, Inc. | 7,000 | 40,740 |
Santander Consumer USA Holdings, Inc. | 28,567 | 581,053 |
Sculptor Capital Management, Inc. | 5,600 | 60,704 |
SEI Investments Co. | 42,152 | 2,071,771 |
Siebert Financial Corp. * | 3,682 | 13,218 |
Silvercrest Asset Management Group, Inc., Class A | 3,213 | 36,275 |
SLM Corp. | 132,633 | 1,218,897 |
Starwood Property Trust, Inc. | 97,349 | 1,359,966 |
State Street Corp. | 122,639 | 7,223,437 |
Stifel Financial Corp. | 24,979 | 1,460,272 |
StoneX Group, Inc. * | 6,044 | 320,211 |
SWK Holdings Corp. * | 4,879 | 70,502 |
Synchrony Financial | 187,028 | 4,679,441 |
T. Rowe Price Group, Inc. | 78,980 | 10,003,607 |
The Bank of New York Mellon Corp. | 281,447 | 9,670,519 |
The Blackstone Group, Inc., Class A | 233,873 | 11,791,877 |
The Carlyle Group, Inc. | 40,916 | 1,019,627 |
The Charles Schwab Corp. (c) | 514,196 | 21,138,598 |
The Goldman Sachs Group, Inc. | 119,187 | 22,531,110 |
TPG RE Finance Trust, Inc. | 20,845 | 163,008 |
Tradeweb Markets, Inc., Class A | 30,431 | 1,657,881 |
Two Harbors Investment Corp. | 95,345 | 482,446 |
Victory Capital Holdings, Inc., Class A | 3,900 | 71,526 |
Virtu Financial, Inc., Class A | 26,912 | 575,379 |
Virtus Investment Partners, Inc. | 2,565 | 409,246 |
Voya Financial, Inc. | 43,697 | 2,094,397 |
Waddell & Reed Financial, Inc., Class A | 22,429 | 344,285 |
Western Asset Mortgage Capital Corp. | 15,107 | 29,308 |
Westwood Holdings Group, Inc. | 2,653 | 25,628 |
WisdomTree Investments, Inc. | 38,043 | 138,476 |
World Acceptance Corp. * | 2,084 | 175,035 |
523,414,532 | ||
Energy 1.9% | ||
Abraxas Petroleum Corp. * | 4,057 | 6,613 |
Adams Resources & Energy, Inc. | 1,166 | 22,247 |
Altus Midstream Co. * | 894 | 8,627 |
Amplify Energy Corp. | 11,998 | 7,802 |
Antero Midstream Corp. | 101,003 | 578,747 |
Antero Resources Corp. * | 74,733 | 254,092 |
Apache Corp. | 134,088 | 1,112,930 |
Arch Resources, Inc. | 5,290 | 161,610 |
Archrock, Inc. | 48,281 | 286,306 |
Aspen Aerogels, Inc. * | 6,261 | 70,749 |
Baker Hughes Co. | 226,210 | 3,341,122 |
Berry Corp. | 15,620 | 40,924 |
Bonanza Creek Energy, Inc. * | 5,626 | 99,636 |
Brigham Minerals, Inc., Class A | 9,000 | 79,380 |
Bristow Group, Inc. * | 6,656 | 138,312 |
Cabot Oil & Gas Corp. | 137,467 | 2,445,538 |
Cactus, Inc., Class A | 15,987 | 271,779 |
Callon Petroleum Co. *(a) | 13,188 | 68,973 |
ChampionX Corp. * | 68,301 | 596,268 |
Cheniere Energy, Inc. * | 80,817 | 3,868,710 |
Chevron Corp. | 668,886 | 46,487,577 |
Cimarex Energy Co. | 35,644 | 904,288 |
Clean Energy Fuels Corp. * | 36,000 | 89,280 |
CNX Resources Corp. * | 77,973 | 756,338 |
Comstock Resources, Inc. * | 20,824 | 110,575 |
Security | Number of Shares | Value ($) |
Concho Resources, Inc. | 69,688 | 2,892,749 |
ConocoPhillips | 372,550 | 10,662,381 |
CONSOL Energy, Inc. * | 8,270 | 31,343 |
Contango Oil & Gas Co. * | 29,038 | 36,298 |
Continental Resources, Inc. | 22,953 | 276,125 |
Core Laboratories N.V. | 16,569 | 239,422 |
CVR Energy, Inc. | 10,411 | 114,625 |
Dawson Geophysical Co. * | 14,633 | 26,193 |
Delek US Holdings, Inc. | 20,434 | 205,566 |
Devon Energy Corp. | 137,057 | 1,223,919 |
Diamond S Shipping, Inc. * | 8,382 | 47,442 |
Diamondback Energy, Inc. | 55,715 | 1,446,361 |
DMC Global, Inc. | 4,394 | 156,295 |
Dorian LPG Ltd. * | 11,000 | 90,200 |
Dril-Quip, Inc. * | 11,715 | 303,419 |
Earthstone Energy, Inc., Class A * | 5,613 | 15,099 |
EOG Resources, Inc. | 202,295 | 6,926,581 |
EQT Corp. | 95,710 | 1,449,049 |
Equitrans Midstream Corp. | 143,380 | 1,040,939 |
Evolution Petroleum Corp. | 8,679 | 19,181 |
Exterran Corp. * | 9,906 | 41,902 |
Exxon Mobil Corp. | 1,467,442 | 47,867,958 |
Falcon Minerals Corp. | 13,000 | 23,920 |
Forum Energy Technologies, Inc. * | 33,550 | 15,950 |
Frank's International N.V. * | 42,473 | 74,328 |
Geospace Technologies Corp. * | 7,458 | 38,260 |
Goodrich Petroleum Corp. * | 3,169 | 30,359 |
Green Plains, Inc. * | 13,339 | 201,419 |
Gulf Island Fabrication, Inc. * | 4,500 | 14,670 |
Hallador Energy Co. | 8,706 | 6,878 |
Halliburton Co. | 304,190 | 3,668,531 |
Helix Energy Solutions Group, Inc. * | 52,600 | 130,448 |
Helmerich & Payne, Inc. | 39,011 | 580,094 |
Hess Corp. | 94,936 | 3,533,518 |
HighPoint Resources Corp. * | 676 | 3,732 |
HollyFrontier Corp. | 52,019 | 962,872 |
Independence Contract Drilling, Inc. * | 575 | 1,336 |
International Seaways, Inc. | 8,633 | 116,891 |
ION Geophysical Corp. * | 3,676 | 5,440 |
Kinder Morgan, Inc. | 676,094 | 8,045,519 |
KLX Energy Services Holdings, Inc. * | 1,728 | 6,774 |
Kosmos Energy Ltd. | 123,816 | 123,110 |
Liberty Oilfield Services, Inc., Class A | 16,890 | 112,825 |
Magnolia Oil & Gas Corp., Class A * | 34,040 | 147,734 |
Mammoth Energy Services, Inc. * | 4,000 | 6,040 |
Marathon Oil Corp. | 281,048 | 1,112,950 |
Marathon Petroleum Corp. | 226,022 | 6,667,649 |
Matador Resources Co. * | 39,449 | 278,904 |
Matrix Service Co. * | 8,000 | 60,800 |
Montage Resources Corp. * | 2,898 | 14,345 |
Murphy Oil Corp. | 52,194 | 402,938 |
Nabors Industries Ltd. | 2,588 | 73,551 |
NACCO Industries, Inc., Class A | 1,900 | 37,031 |
National Oilwell Varco, Inc. | 139,241 | 1,169,624 |
Natural Gas Services Group, Inc. * | 4,213 | 36,653 |
NCS Multistage Holdings, Inc. * | 4,000 | 2,835 |
New Fortress Energy, Inc. | 5,185 | 187,334 |
Newpark Resources, Inc. * | 27,584 | 19,725 |
NextDecade Corp. *(a) | 47,025 | 113,801 |
NexTier Oilfield Solutions, Inc. * | 55,546 | 104,982 |
Nine Energy Service, Inc. *(a) | 4,359 | 4,664 |
Northern Oil and Gas, Inc. * | 8,452 | 31,272 |
Occidental Petroleum Corp. | 290,210 | 2,649,617 |
Oceaneering International, Inc. * | 40,936 | 167,019 |
Oil States International, Inc. * | 23,526 | 58,580 |
ONEOK, Inc. | 155,335 | 4,504,715 |
Overseas Shipholding Group, Inc., Class A * | 18,500 | 35,335 |
Security | Number of Shares | Value ($) |
Ovintiv, Inc. | 94,520 | 869,584 |
Pacific Ethanol, Inc. * | 22,969 | 139,881 |
Par Pacific Holdings, Inc. * | 12,907 | 83,121 |
Parsley Energy, Inc., Class A | 110,016 | 1,101,260 |
Patterson-UTI Energy, Inc. | 66,559 | 170,391 |
PBF Energy, Inc., Class A | 34,678 | 161,946 |
PDC Energy, Inc. * | 33,648 | 401,084 |
Peabody Energy Corp. * | 28,625 | 36,926 |
Penn Virginia Corp. * | 3,770 | 28,954 |
Phillips 66 | 151,769 | 7,081,542 |
PHX Minerals, Inc. | 6,200 | 9,300 |
Pioneer Natural Resources Co. | 57,343 | 4,562,209 |
ProPetro Holding Corp. * | 32,169 | 127,068 |
QEP Resources, Inc. | 77,176 | 69,458 |
Range Resources Corp. | 92,473 | 608,472 |
Renewable Energy Group, Inc. * | 14,753 | 832,069 |
REX American Resources Corp. * | 1,646 | 119,648 |
Ring Energy, Inc. * | 20,681 | 10,566 |
RPC, Inc. * | 17,418 | 41,455 |
SandRidge Energy, Inc. * | 8,633 | 14,849 |
Schlumberger N.V. | 483,589 | 7,224,820 |
SEACOR Holdings, Inc. * | 7,085 | 217,014 |
SEACOR Marine Holdings, Inc. * | 10,065 | 17,312 |
Select Energy Services, Inc., Class A * | 32,143 | 97,072 |
SilverBow Resources, Inc. * | 1,839 | 8,588 |
SM Energy Co. | 35,926 | 57,841 |
Solaris Oilfield Infrastructure, Inc., Class A | 9,189 | 54,491 |
Southwestern Energy Co. * | 193,835 | 517,539 |
Talos Energy, Inc. * | 6,353 | 41,803 |
Targa Resources Corp. | 81,708 | 1,311,413 |
TechnipFMC plc | 147,197 | 813,999 |
Tellurian, Inc. * | 68,096 | 65,372 |
TETRA Technologies, Inc. * | 33,023 | 18,344 |
The Williams Cos., Inc. | 421,521 | 8,088,988 |
Tidewater, Inc. * | 12,517 | 73,350 |
Torchlight Energy Resources, Inc. * | 33,032 | 9,054 |
Transocean Ltd. * | 195,370 | 130,996 |
U.S. Well Services, Inc. * | 10,920 | 3,403 |
Uranium Energy Corp. * | 39,550 | 34,116 |
US Silica Holdings, Inc. | 28,760 | 78,227 |
VAALCO Energy, Inc. * | 20,055 | 16,957 |
Valero Energy Corp. | 141,882 | 5,478,064 |
W&T Offshore, Inc. *(a) | 25,000 | 35,000 |
World Fuel Services Corp. | 22,400 | 471,520 |
WPX Energy, Inc. * | 142,630 | 657,524 |
214,499,032 | ||
Food & Staples Retailing 1.4% | ||
Albertsons Cos., Inc., Class A *(a) | 12,556 | 184,448 |
BJ's Wholesale Club Holdings, Inc. * | 46,482 | 1,779,796 |
Casey's General Stores, Inc. | 13,124 | 2,212,313 |
Costco Wholesale Corp. | 153,276 | 54,814,563 |
Grocery Outlet Holding Corp. * | 27,452 | 1,208,437 |
HF Foods Group, Inc. *(a) | 11,138 | 73,400 |
Ingles Markets, Inc., Class A | 5,108 | 183,173 |
Natural Grocers by Vitamin Cottage, Inc. | 2,400 | 25,536 |
Performance Food Group Co. * | 46,046 | 1,547,606 |
PriceSmart, Inc. | 8,304 | 572,976 |
Rite Aid Corp. * | 19,024 | 173,879 |
SpartanNash, Co. | 13,213 | 243,251 |
Sprouts Farmers Market, Inc. * | 42,873 | 816,731 |
Sysco Corp. | 176,726 | 9,774,715 |
The Andersons, Inc. | 12,706 | 275,593 |
The Chefs' Warehouse, Inc. * | 9,323 | 126,047 |
The Kroger Co. | 270,199 | 8,703,110 |
U.S. Foods Holding Corp. * | 77,897 | 1,628,047 |
Security | Number of Shares | Value ($) |
United Natural Foods, Inc. * | 18,511 | 269,705 |
Village Super Market, Inc., Class A | 3,931 | 89,037 |
Walgreens Boots Alliance, Inc. | 249,932 | 8,507,685 |
Walmart, Inc. | 482,312 | 66,920,790 |
Weis Markets, Inc. | 5,868 | 266,466 |
160,397,304 | ||
Food, Beverage & Tobacco 3.1% | ||
22nd Century Group, Inc. * | 28,273 | 20,552 |
Alico, Inc. | 475 | 13,718 |
Altria Group, Inc. | 645,184 | 23,278,239 |
Archer-Daniels-Midland Co. | 193,149 | 8,931,210 |
B&G Foods, Inc. (a) | 23,882 | 634,306 |
Beyond Meat, Inc. * | 17,077 | 2,432,277 |
Brown-Forman Corp., Class A | 19,538 | 1,226,010 |
Brown-Forman Corp., Class B | 63,388 | 4,418,777 |
Bunge Ltd. | 48,764 | 2,766,382 |
Cal-Maine Foods, Inc. * | 11,722 | 449,539 |
Calavo Growers, Inc. | 6,100 | 409,493 |
Campbell Soup Co. | 69,029 | 3,221,583 |
Celsius Holdings, Inc. * | 9,441 | 189,859 |
Coca-Cola Consolidated, Inc. | 1,696 | 388,299 |
Conagra Brands, Inc. | 169,738 | 5,956,106 |
Constellation Brands, Inc., Class A | 58,386 | 9,647,119 |
Darling Ingredients, Inc. * | 57,811 | 2,485,873 |
Farmer Brothers Co. * | 4,500 | 15,615 |
Flowers Foods, Inc. | 68,235 | 1,608,981 |
Fresh Del Monte Produce, Inc. | 11,734 | 252,633 |
Freshpet, Inc. * | 13,938 | 1,595,901 |
General Mills, Inc. | 212,808 | 12,581,209 |
Hormel Foods Corp. | 97,746 | 4,759,253 |
Hostess Brands, Inc. * | 43,750 | 553,000 |
Ingredion, Inc. | 23,705 | 1,680,447 |
J&J Snack Foods Corp. | 5,365 | 727,333 |
John B. Sanfilippo & Son, Inc. | 3,617 | 263,173 |
Kellogg Co. | 87,602 | 5,509,290 |
Keurig Dr Pepper, Inc. | 161,079 | 4,333,025 |
Lamb Weston Holdings, Inc. | 50,186 | 3,184,302 |
Lancaster Colony Corp. | 7,092 | 1,178,265 |
Landec Corp. * | 9,100 | 87,451 |
Limoneira Co. | 4,500 | 62,235 |
McCormick & Co., Inc. - Non Voting Shares | 43,202 | 7,798,393 |
MGP Ingredients, Inc. | 4,637 | 194,847 |
Molson Coors Beverage Co., Class B | 64,695 | 2,281,146 |
Mondelez International, Inc., Class A | 496,044 | 26,349,857 |
Monster Beverage Corp. * | 128,239 | 9,819,260 |
National Beverage Corp. * | 4,003 | 313,395 |
NewAge, Inc. *(a) | 25,010 | 58,523 |
PepsiCo, Inc. | 480,930 | 64,103,160 |
Philip Morris International, Inc. | 541,191 | 38,435,385 |
Pilgrim's Pride Corp. * | 17,681 | 295,980 |
Post Holdings, Inc. * | 22,135 | 1,901,396 |
RiceBran Technologies * | 12,444 | 6,346 |
Sanderson Farms, Inc. | 7,034 | 900,141 |
Seaboard Corp. | 95 | 327,275 |
Seneca Foods Corp., Class A * | 2,000 | 73,700 |
The Alkaline Water Co., Inc. * | 16,336 | 20,420 |
The Boston Beer Co., Inc., Class A * | 3,156 | 3,279,652 |
The Coca-Cola Co. | 1,342,562 | 64,523,530 |
The Hain Celestial Group, Inc. * | 27,410 | 842,858 |
The Hershey Co. | 51,194 | 7,037,127 |
The JM Smucker Co. | 39,885 | 4,475,097 |
The Kraft Heinz Co. | 224,898 | 6,879,630 |
The Simply Good Foods Co. * | 28,499 | 535,781 |
Tootsie Roll Industries, Inc. | 6,110 | 182,567 |
TreeHouse Foods, Inc. * | 20,033 | 778,082 |
Security | Number of Shares | Value ($) |
Turning Point Brands, Inc. | 4,184 | 156,774 |
Tyson Foods, Inc., Class A | 102,171 | 5,847,246 |
Universal Corp. | 9,019 | 359,407 |
Vector Group Ltd. | 41,360 | 380,098 |
Vital Farms, Inc. * | 2,008 | 69,396 |
Whole Earth Brands, Inc. * | 7,684 | 62,932 |
353,150,856 | ||
Health Care Equipment & Services 6.6% | ||
1Life Healthcare, Inc. * | 23,933 | 675,150 |
Abbott Laboratories | 614,510 | 64,591,146 |
ABIOMED, Inc. * | 15,773 | 3,972,903 |
Acadia Healthcare Co., Inc. * | 30,729 | 1,095,489 |
Accelerate Diagnostics, Inc. *(a) | 10,300 | 97,026 |
Accolade, Inc. * | 5,265 | 184,380 |
Accuray, Inc. * | 28,423 | 82,711 |
Acutus Medical, Inc. * | 2,022 | 46,243 |
AdaptHealth Corp. * | 11,978 | 326,999 |
Addus HomeCare Corp. * | 5,284 | 515,560 |
Align Technology, Inc. * | 25,073 | 10,683,104 |
Allscripts Healthcare Solutions, Inc. * | 53,720 | 541,498 |
Alphatec Holdings, Inc. * | 17,902 | 152,883 |
Amedisys, Inc. * | 11,265 | 2,917,635 |
American Renal Associates Holdings, Inc. * | 4,023 | 46,224 |
AmerisourceBergen Corp. | 51,289 | 4,927,334 |
AMN Healthcare Services, Inc. * | 15,960 | 1,041,869 |
AngioDynamics, Inc. * | 11,450 | 118,393 |
Antares Pharma, Inc. * | 62,307 | 170,098 |
Anthem, Inc. | 87,177 | 23,781,886 |
Apollo Medical Holdings, Inc. * | 7,448 | 128,553 |
Apyx Medical Corp. * | 8,600 | 51,772 |
Aspira Women's Health, Inc. *(a) | 27,640 | 104,203 |
AtriCure, Inc. * | 16,264 | 562,084 |
Atrion Corp. | 475 | 285,546 |
Avanos Medical, Inc. * | 17,115 | 605,015 |
AxoGen, Inc. * | 11,943 | 150,601 |
Axonics Modulation Technologies, Inc. * | 8,851 | 415,023 |
Baxter International, Inc. | 175,724 | 13,630,911 |
Becton, Dickinson & Co. | 100,779 | 23,293,050 |
Bellerophon Therapeutics, Inc. * | 4,176 | 35,204 |
Beyond Air, Inc. *(a) | 8,170 | 42,811 |
BioLife Solutions, Inc. * | 6,771 | 194,395 |
BioSig Technologies, Inc. *(a) | 8,008 | 25,305 |
BioTelemetry, Inc. * | 12,185 | 518,837 |
Boston Scientific Corp. * | 498,496 | 17,083,458 |
Brookdale Senior Living, Inc. * | 69,175 | 203,375 |
Cantel Medical Corp. | 13,357 | 638,999 |
Capital Senior Living Corp. * | 1,618 | 803 |
Cardinal Health, Inc. | 101,874 | 4,664,811 |
Cardiovascular Systems, Inc. * | 13,657 | 486,872 |
Castle Biosciences, Inc. * | 4,958 | 230,200 |
Castlight Health, Inc., Class B * | 20,805 | 18,369 |
Centene Corp. * | 202,307 | 11,956,344 |
Cerner Corp. | 106,294 | 7,450,147 |
Cerus Corp. * | 57,125 | 299,906 |
Change Healthcare, Inc. * | 79,446 | 1,124,161 |
Chembio Diagnostics, Inc. *(a) | 7,487 | 35,488 |
Chemed Corp. | 5,540 | 2,649,893 |
Cigna Corp. | 127,798 | 21,338,432 |
Co-Diagnostics, Inc. *(a) | 7,865 | 105,470 |
Community Health Systems, Inc. * | 34,809 | 217,208 |
Computer Programs & Systems, Inc. | 3,700 | 103,193 |
Conformis, Inc. * | 21,969 | 15,198 |
CONMED Corp. | 10,244 | 798,725 |
CorVel Corp. * | 3,002 | 273,842 |
Covetrus, Inc. * | 33,231 | 820,473 |
Security | Number of Shares | Value ($) |
Cross Country Healthcare, Inc. * | 14,856 | 116,620 |
CryoLife, Inc. * | 12,053 | 202,008 |
CryoPort, Inc. * | 14,093 | 565,693 |
Cutera, Inc. * | 4,219 | 79,866 |
CVS Health Corp. | 453,420 | 25,432,328 |
CytoSorbents Corp. * | 9,756 | 74,633 |
Danaher Corp. | 218,952 | 50,258,242 |
DarioHealth Corp. * | 4,600 | 46,782 |
DaVita, Inc. * | 26,153 | 2,255,696 |
DENTSPLY SIRONA, Inc. | 76,941 | 3,630,846 |
DexCom, Inc. * | 33,094 | 10,576,181 |
Edwards Lifesciences Corp. * | 216,612 | 15,528,914 |
Ekso Bionics Holdings, Inc. *(a) | 1,406 | 5,722 |
Electromed, Inc. * | 3,981 | 33,082 |
Encompass Health Corp. | 35,123 | 2,153,391 |
Envista Holdings Corp. * | 56,582 | 1,494,897 |
Enzo Biochem, Inc. * | 13,471 | 24,517 |
Evolent Health, Inc., Class A * | 29,477 | 293,001 |
Five Star Senior Living, Inc. * | 5,708 | 26,086 |
FONAR Corp. * | 1,870 | 36,727 |
Fulgent Genetics, Inc. * | 3,817 | 124,167 |
Genesis Healthcare, Inc. * | 32,553 | 14,004 |
GenMark Diagnostics, Inc. * | 23,488 | 287,023 |
Glaukos Corp. * | 15,563 | 870,283 |
Globus Medical, Inc., Class A * | 27,392 | 1,427,671 |
Guardant Health, Inc. * | 29,343 | 3,129,724 |
Haemonetics Corp. * | 18,086 | 1,828,314 |
Hanger, Inc. * | 13,820 | 241,435 |
HCA Healthcare, Inc. | 91,843 | 11,383,021 |
Health Catalyst, Inc. * | 10,899 | 375,798 |
HealthEquity, Inc. * | 26,867 | 1,383,382 |
HealthStream, Inc. * | 7,648 | 139,958 |
Henry Schein, Inc. * | 50,115 | 3,186,312 |
Heska Corp. * | 3,412 | 400,330 |
Hill-Rom Holdings, Inc. | 23,290 | 2,121,020 |
HMS Holdings Corp. * | 32,631 | 868,637 |
Hologic, Inc. * | 90,716 | 6,243,075 |
HTG Molecular Diagnostics, Inc. * | 18,640 | 5,853 |
Humana, Inc. | 45,789 | 18,282,632 |
ICAD, Inc. * | 5,445 | 53,143 |
ICU Medical, Inc. * | 6,955 | 1,236,530 |
IDEXX Laboratories, Inc. * | 29,568 | 12,561,078 |
Inari Medical, Inc. * | 2,101 | 139,086 |
InfuSystem Holdings, Inc. * | 4,288 | 52,828 |
Inogen, Inc. * | 6,823 | 199,300 |
Inovalon Holdings, Inc., Class A * | 28,884 | 548,507 |
Inspire Medical Systems, Inc. * | 9,087 | 1,085,260 |
Insulet Corp. * | 22,852 | 5,078,857 |
Integer Holdings Corp. * | 11,589 | 677,377 |
Integra LifeSciences Holdings Corp. * | 25,697 | 1,133,238 |
IntriCon Corp. * | 4,256 | 53,200 |
Intuitive Surgical, Inc. * | 40,625 | 27,100,125 |
Invacare Corp. | 9,218 | 74,758 |
iRadimed Corp. * | 1,334 | 30,215 |
iRhythm Technologies, Inc. * | 9,892 | 2,091,663 |
Laboratory Corp. of America Holdings * | 34,037 | 6,799,572 |
Lantheus Holdings, Inc. * | 23,570 | 255,970 |
LeMaitre Vascular, Inc. | 5,247 | 170,423 |
LENSAR, Inc. * | 3,420 | 33,379 |
LHC Group, Inc. * | 10,851 | 2,349,784 |
LivaNova plc * | 17,771 | 894,592 |
Livongo Health, Inc. *(b) | 22,473 | 2,708,993 |
Magellan Health, Inc. * | 7,831 | 565,946 |
Masimo Corp. * | 17,507 | 3,918,417 |
McKesson Corp. | 56,202 | 8,289,233 |
MEDNAX, Inc. * | 29,765 | 379,504 |
Medtronic plc | 466,769 | 46,942,958 |
Meridian Bioscience, Inc. * | 14,540 | 249,361 |
Security | Number of Shares | Value ($) |
Merit Medical Systems, Inc. * | 18,529 | 927,377 |
Mesa Laboratories, Inc. | 1,598 | 417,733 |
Milestone Scientific, Inc. * | 21,743 | 33,484 |
Misonix, Inc. * | 7,008 | 79,611 |
Molina Healthcare, Inc. * | 20,962 | 3,908,784 |
NantHealth, Inc. *(a) | 27,365 | 55,004 |
National HealthCare Corp. | 3,965 | 250,985 |
National Research Corp. | 3,945 | 204,351 |
Natus Medical, Inc. * | 13,282 | 241,865 |
Neogen Corp. * | 18,220 | 1,270,663 |
Neuronetics, Inc. *(a) | 8,872 | 43,916 |
Nevro Corp. * | 12,083 | 1,802,904 |
NextGen Healthcare, Inc. * | 16,383 | 222,809 |
Novocure Ltd. * | 29,100 | 3,553,110 |
NuVasive, Inc. * | 17,797 | 790,721 |
Omnicell, Inc. * | 15,517 | 1,342,996 |
Ontrak, Inc. *(a) | 2,607 | 159,653 |
OptimizeRx Corp. * | 3,035 | 60,093 |
Option Care Health, Inc. * | 17,803 | 237,314 |
OraSure Technologies, Inc. * | 25,771 | 385,019 |
Orthofix Medical, Inc. * | 6,531 | 204,159 |
OrthoPediatrics Corp. * | 3,885 | 173,271 |
Owens & Minor, Inc. | 22,515 | 565,577 |
Patterson Cos., Inc. | 31,422 | 781,622 |
Penumbra, Inc. * | 11,799 | 3,079,893 |
PetIQ, Inc. * | 6,200 | 177,072 |
Phreesia, Inc. * | 10,376 | 383,601 |
Premier, Inc., Class A | 23,402 | 765,948 |
Progyny, Inc. * | 11,086 | 270,166 |
Psychemedics Corp. | 2,969 | 11,193 |
Pulse Biosciences, Inc. *(a) | 2,908 | 35,216 |
Quest Diagnostics, Inc. | 47,066 | 5,748,641 |
Quidel Corp. * | 13,463 | 3,611,988 |
Quotient Ltd. * | 28,484 | 134,445 |
R1 RCM, Inc. * | 40,724 | 729,774 |
RadNet, Inc. * | 14,117 | 204,838 |
Repro-Med Systems, Inc. * | 4,895 | 27,020 |
ResMed, Inc. | 50,392 | 9,672,241 |
Retractable Technologies, Inc. * | 11,616 | 85,261 |
Rockwell Medical, Inc. * | 13,042 | 11,117 |
Schrodinger, Inc. * | 11,642 | 567,897 |
SeaSpine Holdings Corp. * | 7,349 | 93,773 |
Select Medical Holdings Corp. * | 39,510 | 828,920 |
Senseonics Holdings, Inc. * | 26,000 | 9,703 |
Sensus Healthcare, Inc. * | 5,903 | 14,639 |
Sharps Compliance Corp. * | 7,560 | 45,058 |
Shockwave Medical, Inc. * | 9,869 | 674,250 |
SI-BONE, Inc. * | 6,811 | 142,827 |
Sientra, Inc. * | 12,323 | 52,003 |
Silk Road Medical, Inc. * | 11,622 | 704,293 |
Simulations Plus, Inc. | 4,349 | 281,902 |
SmileDirectClub, Inc. * | 28,587 | 254,424 |
Soliton, Inc. *(a) | 4,273 | 30,595 |
STAAR Surgical Co. * | 14,774 | 1,071,115 |
Stereotaxis, Inc. * | 16,205 | 51,208 |
STERIS plc | 29,679 | 5,258,822 |
Stryker Corp. | 113,221 | 22,871,774 |
Surgalign Holdings, Inc. * | 18,100 | 31,494 |
Surgery Partners, Inc. * | 5,591 | 121,996 |
Surmodics, Inc. * | 4,200 | 154,350 |
Tabula Rasa HealthCare, Inc. * | 7,830 | 270,448 |
Tactile Systems Technology, Inc. * | 6,321 | 231,222 |
Tandem Diabetes Care, Inc. * | 20,606 | 2,246,054 |
Tela Bio, Inc. * | 4,346 | 65,885 |
Teladoc Health, Inc. * | 28,369 | 5,573,374 |
Teleflex, Inc. | 16,332 | 5,197,332 |
Tenet Healthcare Corp. * | 37,243 | 913,943 |
The Cooper Cos., Inc. | 17,203 | 5,488,617 |
Security | Number of Shares | Value ($) |
The Ensign Group, Inc. | 17,784 | 1,046,411 |
The Joint Corp. * | 3,340 | 62,592 |
The Pennant Group, Inc. * | 8,273 | 344,653 |
The Providence Service Corp. * | 4,117 | 483,953 |
Tivity Health, Inc. * | 16,969 | 233,324 |
TransMedics Group, Inc. * | 8,450 | 101,231 |
Triple-S Management Corp., Class B * | 6,987 | 129,399 |
U.S. Physical Therapy, Inc. | 5,147 | 408,312 |
UnitedHealth Group, Inc. | 330,093 | 100,724,578 |
Universal Health Services, Inc., Class B | 27,117 | 2,970,667 |
Utah Medical Products, Inc. | 1,365 | 113,295 |
Vapotherm, Inc. * | 6,833 | 204,648 |
Varex Imaging Corp. * | 14,217 | 190,508 |
Varian Medical Systems, Inc. * | 31,789 | 5,493,139 |
Veeva Systems, Inc., Class A * | 47,103 | 12,720,165 |
ViewRay, Inc. * | 38,091 | 113,130 |
Vocera Communications, Inc. * | 10,583 | 346,911 |
VolitionRX Ltd. *(a) | 15,384 | 45,691 |
West Pharmaceutical Services, Inc. | 25,729 | 7,000,089 |
Wright Medical Group N.V. * | 44,821 | 1,371,074 |
Zimmer Biomet Holdings, Inc. | 72,191 | 9,536,431 |
Zynex, Inc. * | 5,451 | 69,827 |
756,967,757 | ||
Household & Personal Products 1.7% | ||
BellRing Brands, Inc., Class A * | 13,740 | 251,305 |
Central Garden & Pet Co. * | 4,210 | 164,022 |
Central Garden & Pet Co., Class A * | 13,239 | 468,528 |
Church & Dwight Co., Inc. | 85,901 | 7,592,789 |
Colgate-Palmolive Co. | 297,715 | 23,486,736 |
Coty, Inc., Class A | 100,228 | 290,661 |
Edgewell Personal Care Co. * | 18,438 | 483,444 |
elf Beauty, Inc. * | 10,527 | 213,382 |
Energizer Holdings, Inc. | 20,595 | 810,413 |
Herbalife Nutrition Ltd. * | 32,833 | 1,482,082 |
Inter Parfums, Inc. | 5,865 | 240,817 |
Kimberly-Clark Corp. | 118,593 | 15,724,246 |
Lifevantage Corp. * | 5,280 | 58,344 |
Medifast, Inc. | 3,897 | 547,490 |
Natural Health Trends Corp. | 2,166 | 11,978 |
Nature's Sunshine Products, Inc. * | 5,329 | 55,528 |
Nu Skin Enterprises, Inc., Class A | 18,865 | 930,988 |
Oil-Dri Corp. of America | 1,600 | 54,656 |
Revlon, Inc., Class A *(a) | 3,255 | 13,346 |
Reynolds Consumer Products, Inc. | 17,830 | 503,519 |
Spectrum Brands Holdings, Inc. | 14,158 | 805,165 |
The Clorox Co. | 43,990 | 9,116,927 |
The Estee Lauder Cos., Inc., Class A | 78,174 | 17,171,701 |
The Procter & Gamble Co. | 864,619 | 118,539,265 |
USANA Health Sciences, Inc. * | 4,282 | 323,933 |
Veru, Inc. * | 15,200 | 38,304 |
WD-40 Co. | 5,025 | 1,222,985 |
200,602,554 | ||
Insurance 2.0% | ||
Aflac, Inc. | 228,633 | 7,762,090 |
Alleghany Corp. | 5,021 | 2,746,136 |
Ambac Financial Group, Inc. * | 15,031 | 184,581 |
American Equity Investment Life Holding Co. | 31,647 | 785,479 |
American Financial Group, Inc. | 25,218 | 1,889,837 |
American International Group, Inc. | 300,597 | 9,465,800 |
American National Group, Inc. | 3,761 | 258,757 |
AMERISAFE, Inc. | 7,229 | 426,366 |
Aon plc, Class A | 80,161 | 14,750,426 |
Arch Capital Group Ltd. * | 142,774 | 4,313,203 |
Security | Number of Shares | Value ($) |
Argo Group International Holdings Ltd. | 11,607 | 414,138 |
Arthur J. Gallagher & Co. | 66,526 | 6,899,411 |
Assurant, Inc. | 21,052 | 2,618,237 |
Assured Guaranty Ltd. | 27,577 | 704,041 |
Athene Holding Ltd., Class A * | 43,038 | 1,380,659 |
Axis Capital Holdings Ltd. | 28,377 | 1,211,414 |
Brighthouse Financial, Inc. * | 31,350 | 1,037,685 |
Brown & Brown, Inc. | 81,791 | 3,558,726 |
BRP Group, Inc., Class A * | 11,085 | 282,668 |
Chubb Ltd. | 156,452 | 20,324,679 |
Cincinnati Financial Corp. | 52,449 | 3,710,242 |
Citizens, Inc. * | 22,044 | 127,194 |
CNA Financial Corp. | 9,550 | 284,495 |
CNO Financial Group, Inc. | 51,690 | 917,497 |
Crawford & Co., Class A | 4,938 | 31,603 |
Crawford & Co., Class B | 5,800 | 36,772 |
Donegal Group, Inc., Class A | 5,782 | 83,897 |
eHealth, Inc. * | 8,839 | 593,185 |
Employers Holdings, Inc. | 11,759 | 376,406 |
Enstar Group Ltd. * | 4,865 | 836,148 |
Erie Indemnity Co., Class A | 8,399 | 1,955,875 |
Everest Re Group Ltd. | 14,087 | 2,776,266 |
FBL Financial Group, Inc., Class A | 3,305 | 164,225 |
FedNat Holding Co. | 4,085 | 20,956 |
Fidelity National Financial, Inc. | 101,834 | 3,186,386 |
First American Financial Corp. | 38,843 | 1,732,009 |
Genworth Financial, Inc., Class A * | 174,782 | 686,893 |
Globe Life, Inc. | 34,249 | 2,777,251 |
GoHealth, Inc., Class A * | 10,390 | 107,640 |
Goosehead Insurance, Inc., Class A | 4,873 | 597,137 |
Greenlight Capital Re Ltd., Class A * | 12,115 | 81,776 |
Hallmark Financial Services, Inc. * | 9,052 | 24,531 |
HCI Group, Inc. | 2,926 | 137,463 |
Heritage Insurance Holdings, Inc. | 9,756 | 92,097 |
Horace Mann Educators Corp. | 14,260 | 483,557 |
Independence Holding Co. | 2,346 | 88,726 |
Investors Title Co. | 416 | 55,544 |
James River Group Holdings Ltd. | 11,384 | 531,974 |
Kemper Corp. | 21,510 | 1,326,307 |
Kingstone Cos., Inc. | 2,696 | 15,691 |
Kinsale Capital Group, Inc. | 7,444 | 1,395,527 |
Lemonade, Inc. *(a) | 3,171 | 159,470 |
Lincoln National Corp. | 64,843 | 2,275,989 |
Loews Corp. | 83,701 | 2,902,751 |
Maiden Holdings Ltd. * | 18,900 | 23,058 |
Markel Corp. * | 4,829 | 4,504,491 |
Marsh & McLennan Cos., Inc. | 175,385 | 18,145,332 |
MBIA, Inc. * | 23,883 | 136,372 |
Mercury General Corp. | 9,807 | 399,243 |
MetLife, Inc. | 266,386 | 10,082,710 |
National General Holdings Corp. | 21,670 | 736,130 |
National Western Life Group, Inc., Class A | 704 | 119,420 |
NI Holdings, Inc. * | 2,860 | 47,791 |
Old Republic International Corp. | 100,464 | 1,635,554 |
Palomar Holdings, Inc. * | 7,124 | 635,247 |
Primerica, Inc. | 13,749 | 1,515,690 |
Principal Financial Group, Inc. | 88,859 | 3,485,050 |
ProAssurance Corp. | 18,940 | 292,244 |
ProSight Global, Inc. * | 4,459 | 52,750 |
Protective Insurance Corp., Class B | 4,607 | 60,582 |
Prudential Financial, Inc. | 136,310 | 8,726,566 |
Reinsurance Group of America, Inc. | 23,535 | 2,377,506 |
RenaissanceRe Holdings Ltd. | 17,754 | 2,871,177 |
RLI Corp. | 13,764 | 1,193,339 |
Safety Insurance Group, Inc. | 5,451 | 381,570 |
Selective Insurance Group, Inc. | 20,690 | 1,077,121 |
Selectquote, Inc. * | 8,643 | 148,832 |
Security | Number of Shares | Value ($) |
State Auto Financial Corp. | 5,500 | 67,870 |
Stewart Information Services Corp. | 9,355 | 396,558 |
The Allstate Corp. | 107,832 | 9,570,090 |
The Hanover Insurance Group, Inc. | 13,210 | 1,263,669 |
The Hartford Financial Services Group, Inc. | 125,228 | 4,823,783 |
The Progressive Corp. | 203,040 | 18,659,376 |
The Travelers Cos., Inc. | 87,967 | 10,618,497 |
Third Point Reinsurance Ltd. * | 32,236 | 250,796 |
Tiptree, Inc. | 7,504 | 36,544 |
Trupanion, Inc. * | 11,100 | 794,094 |
United Fire Group, Inc. | 8,730 | 179,314 |
United Insurance Holdings Corp. | 6,439 | 28,267 |
Universal Insurance Holdings, Inc. | 9,563 | 119,251 |
Unum Group | 67,600 | 1,193,816 |
W.R. Berkley Corp. | 49,902 | 3,000,108 |
Watford Holdings Ltd. * | 4,845 | 174,420 |
White Mountains Insurance Group Ltd. | 1,071 | 972,821 |
Willis Towers Watson plc | 44,928 | 8,198,461 |
230,583,323 | ||
Materials 2.8% | ||
Advanced Emissions Solutions, Inc. | 5,901 | 26,259 |
AdvanSix, Inc. * | 8,959 | 136,356 |
AgroFresh Solutions, Inc. * | 10,000 | 20,600 |
Air Products & Chemicals, Inc. | 76,510 | 21,135,122 |
Albemarle Corp. | 36,737 | 3,424,256 |
Alcoa Corp. * | 64,376 | 831,738 |
Allegheny Technologies, Inc. * | 43,781 | 403,223 |
Amcor plc | 547,445 | 5,709,851 |
American Vanguard Corp. | 9,646 | 124,626 |
Amyris, Inc. * | 27,872 | 69,680 |
AptarGroup, Inc. | 22,484 | 2,565,200 |
Arconic Corp. * | 33,829 | 735,442 |
Ashland Global Holdings, Inc. | 19,000 | 1,325,630 |
Avery Dennison Corp. | 29,123 | 4,030,332 |
Avient Corp. | 32,939 | 1,023,415 |
Axalta Coating Systems Ltd. * | 73,084 | 1,835,139 |
Balchem Corp. | 11,652 | 1,164,617 |
Ball Corp. | 112,689 | 10,029,321 |
Berry Global Group, Inc. * | 46,380 | 2,162,699 |
Boise Cascade Co. | 12,963 | 497,520 |
Cabot Corp. | 20,323 | 772,477 |
Carpenter Technology Corp. | 16,523 | 288,822 |
Celanese Corp. | 40,973 | 4,650,845 |
Century Aluminum Co. * | 14,114 | 92,870 |
CF Industries Holdings, Inc. | 73,241 | 2,022,184 |
Chase Corp. | 2,673 | 254,363 |
Clearwater Paper Corp. * | 5,366 | 199,347 |
Cleveland-Cliffs, Inc. | 143,210 | 1,185,779 |
Coeur Mining, Inc. * | 86,224 | 609,604 |
Commercial Metals Co. | 41,029 | 847,249 |
Compass Minerals International, Inc. | 11,822 | 713,812 |
Contura Energy, Inc. * | 6,988 | 45,073 |
Corteva, Inc. | 260,265 | 8,583,540 |
Crown Holdings, Inc. * | 47,004 | 4,032,943 |
Domtar Corp. | 19,344 | 461,935 |
Dow, Inc. | 257,718 | 11,723,592 |
DuPont de Nemours, Inc. | 253,824 | 14,437,509 |
Eagle Materials, Inc. | 14,491 | 1,235,358 |
Eastman Chemical Co. | 46,327 | 3,745,075 |
Ecolab, Inc. | 85,929 | 15,775,705 |
Element Solutions, Inc. * | 76,011 | 890,849 |
Ferro Corp. * | 30,061 | 386,584 |
Flotek Industries, Inc. * | 16,539 | 41,017 |
FMC Corp. | 45,146 | 4,638,300 |
Forterra, Inc. * | 9,076 | 118,442 |
Security | Number of Shares | Value ($) |
Freeport-McMoRan, Inc. | 506,531 | 8,783,248 |
FutureFuel Corp. | 9,399 | 111,754 |
GCP Applied Technologies, Inc. * | 19,258 | 420,017 |
Glatfelter Corp. | 17,901 | 255,447 |
Gold Resource Corp. | 19,195 | 52,594 |
Graphic Packaging Holding Co. | 96,401 | 1,281,169 |
Greif, Inc., Class A | 11,764 | 477,501 |
H.B. Fuller Co. | 17,701 | 800,970 |
Hawkins, Inc. | 3,679 | 171,846 |
Haynes International, Inc. | 3,574 | 57,935 |
Hecla Mining Co. | 183,136 | 838,763 |
Huntsman Corp. | 69,516 | 1,688,544 |
Hycroft Mining Holding Corp. * | 7,802 | 63,742 |
Ingevity Corp. * | 14,839 | 814,364 |
Innospec, Inc. | 9,038 | 597,773 |
International Flavors & Fragrances, Inc. (a) | 37,194 | 3,818,336 |
International Paper Co. | 136,319 | 5,963,956 |
Intrepid Potash, Inc. * | 2,719 | 27,136 |
Kaiser Aluminum Corp. | 6,075 | 382,300 |
Koppers Holdings, Inc. * | 6,542 | 146,737 |
Kraton Corp. * | 9,654 | 273,208 |
Kronos Worldwide, Inc. | 6,230 | 82,984 |
Linde plc | 182,192 | 40,144,185 |
Livent Corp. * | 54,430 | 585,123 |
Loop Industries, Inc. *(a) | 4,729 | 28,563 |
Louisiana-Pacific Corp. | 40,157 | 1,147,687 |
LSB Industries, Inc. * | 5,600 | 12,488 |
LyondellBasell Industries N.V., Class A | 89,024 | 6,093,693 |
Marrone Bio Innovations, Inc. *(a) | 27,730 | 30,503 |
Martin Marietta Materials, Inc. | 21,590 | 5,750,497 |
Materion Corp. | 7,145 | 365,753 |
McEwen Mining, Inc. * | 126,062 | 122,457 |
Mercer International, Inc. | 14,607 | 91,878 |
Minerals Technologies, Inc. | 12,903 | 705,665 |
Myers Industries, Inc. | 14,310 | 205,205 |
Neenah, Inc. | 6,513 | 245,084 |
NewMarket Corp. | 2,533 | 906,029 |
Newmont Corp. | 278,868 | 17,524,065 |
Northern Technologies International Corp. | 3,248 | 26,016 |
Nucor Corp. | 104,487 | 4,990,299 |
O-I Glass, Inc. | 56,848 | 536,077 |
Olin Corp. | 50,462 | 835,146 |
Olympic Steel, Inc. | 2,550 | 29,096 |
Orion Engineered Carbons S.A. | 16,940 | 248,510 |
Packaging Corp. of America | 32,702 | 3,744,052 |
PPG Industries, Inc. | 81,655 | 10,592,287 |
PQ Group Holdings, Inc. * | 13,423 | 155,170 |
Quaker Chemical Corp. | 4,697 | 896,141 |
Ranpak Holdings Corp. * | 8,300 | 70,799 |
Rayonier Advanced Materials, Inc. * | 17,736 | 60,834 |
Reliance Steel & Aluminum Co. | 21,906 | 2,387,535 |
Resolute Forest Products, Inc. * | 28,000 | 128,520 |
Royal Gold, Inc. | 22,993 | 2,731,798 |
RPM International, Inc. | 45,054 | 3,814,722 |
Ryerson Holding Corp. * | 4,659 | 36,666 |
Schnitzer Steel Industries, Inc., Class A | 9,050 | 190,050 |
Schweitzer-Mauduit International, Inc. | 10,032 | 333,062 |
Sealed Air Corp. | 53,517 | 2,118,738 |
Sensient Technologies Corp. | 14,680 | 960,512 |
Silgan Holdings, Inc. | 26,115 | 899,662 |
Sonoco Products Co. | 35,418 | 1,731,586 |
Steel Dynamics, Inc. | 69,542 | 2,189,182 |
Stepan Co. | 7,314 | 851,642 |
Summit Materials, Inc., Class A * | 39,293 | 695,093 |
SunCoke Energy, Inc. | 29,816 | 104,058 |
Synalloy Corp. * | 2,200 | 11,418 |
Security | Number of Shares | Value ($) |
Tecnoglass, Inc. | 4,997 | 22,536 |
The Chemours Co. | 59,723 | 1,202,821 |
The Mosaic Co. | 120,395 | 2,227,308 |
The Scotts Miracle-Gro Co. | 14,136 | 2,121,107 |
The Sherwin-Williams Co. | 28,403 | 19,540,696 |
TimkenSteel Corp. * | 10,796 | 41,781 |
Trecora Resources * | 10,224 | 60,526 |
Tredegar Corp. | 8,263 | 120,475 |
Trinseo S.A. | 14,067 | 447,612 |
Tronox Holdings plc, Class A * | 35,242 | 344,314 |
UFP Technologies, Inc. * | 3,202 | 118,666 |
United States Lime & Minerals, Inc. | 1,011 | 93,720 |
United States Steel Corp. | 77,769 | 751,249 |
Universal Stainless & Alloy Products, Inc. * | 1,800 | 9,774 |
US Concrete, Inc. * | 6,497 | 220,638 |
Valvoline, Inc. | 63,880 | 1,256,520 |
Venator Materials plc * | 13,280 | 25,763 |
Verso Corp., Class A | 6,622 | 51,519 |
Vulcan Materials Co. | 46,047 | 6,669,448 |
W.R. Grace & Co. | 21,494 | 934,774 |
Warrior Met Coal, Inc. | 18,646 | 279,690 |
Westlake Chemical Corp. | 12,523 | 846,805 |
WestRock Co. | 90,051 | 3,381,415 |
Worthington Industries, Inc. | 13,511 | 664,876 |
318,876,203 | ||
Media & Entertainment 8.4% | ||
Activision Blizzard, Inc. | 268,131 | 20,305,561 |
Alphabet, Inc., Class A * | 104,341 | 168,626,534 |
Alphabet, Inc., Class C * | 101,954 | 165,268,454 |
Altice USA, Inc., Class A * | 112,593 | 3,034,381 |
AMC Entertainment Holdings, Inc., Class A (a) | 22,090 | 52,132 |
AMC Networks, Inc., Class A *(a) | 10,297 | 218,811 |
ANGI Homeservices, Inc., Class A * | 22,425 | 237,705 |
Boston Omaha Corp., Class A * | 2,600 | 41,548 |
Cable One, Inc. | 1,861 | 3,222,991 |
Cardlytics, Inc. * | 9,475 | 699,444 |
Cargurus, Inc. * | 27,764 | 553,337 |
Cars.com, Inc. * | 21,136 | 156,195 |
Charter Communications, Inc., Class A * | 51,842 | 31,303,236 |
Cinedigm Corp., Class A * | 23,490 | 11,040 |
Cinemark Holdings, Inc. | 37,192 | 304,602 |
Clear Channel Outdoor Holdings, Inc. * | 176,155 | 157,483 |
Comcast Corp., Class A | 1,581,730 | 66,812,275 |
comScore, Inc. * | 18,690 | 37,287 |
Cumulus Media, Inc., Class A * | 6,971 | 35,273 |
Daily Journal Corp. * | 427 | 115,802 |
DHI Group, Inc. * | 17,016 | 28,757 |
Discovery, Inc., Class A * | 55,751 | 1,128,400 |
Discovery, Inc., Class C * | 107,690 | 1,972,881 |
DISH Network Corp., Class A * | 85,754 | 2,185,869 |
Electronic Arts, Inc. * | 100,405 | 12,031,531 |
Emerald Holding, Inc. | 7,527 | 19,721 |
Entercom Communications Corp., Class A | 55,637 | 83,456 |
Entravision Communications Corp., Class A | 23,831 | 43,611 |
Eventbrite, Inc., Class A * | 25,100 | 231,673 |
EverQuote, Inc., Class A * | 3,535 | 118,387 |
Facebook, Inc., Class A * | 835,106 | 219,724,740 |
Fluent, Inc. * | 13,431 | 34,249 |
Fox Corp., Class A | 118,974 | 3,155,190 |
Fox Corp., Class B | 54,928 | 1,435,818 |
Gaia, Inc. * | 3,400 | 34,476 |
Gannett Co., Inc. * | 55,113 | 63,380 |
Security | Number of Shares | Value ($) |
Glu Mobile, Inc. * | 45,278 | 324,190 |
Gray Television, Inc. * | 28,501 | 361,393 |
Hemisphere Media Group, Inc. * | 4,890 | 38,240 |
IAC/InterActiveCorp * | 27,141 | 3,276,462 |
iHeartMedia, Inc., Class A * | 20,035 | 164,688 |
John Wiley & Sons, Inc., Class A | 15,690 | 485,762 |
Lee Enterprises, Inc. * | 15,450 | 12,068 |
Liberty Broadband Corp., Class A * | 8,502 | 1,194,956 |
Liberty Broadband Corp., Class C * | 53,332 | 7,557,678 |
Liberty Media Corp. - Liberty Braves, Class A * | 2,953 | 61,127 |
Liberty Media Corp. - Liberty Braves, Class C * | 12,455 | 254,954 |
Liberty Media Corp. - Liberty Formula One, Class A * | 8,605 | 286,546 |
Liberty Media Corp. - Liberty Formula One, Class C * | 70,617 | 2,551,392 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 29,393 | 1,016,116 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 60,519 | 2,093,957 |
Liberty TripAdvisor Holdings, Inc., Class A * | 24,773 | 44,096 |
Lions Gate Entertainment Corp., Class A * | 23,373 | 156,599 |
Lions Gate Entertainment Corp., Class B * | 41,368 | 259,377 |
Live Nation Entertainment, Inc. * | 49,186 | 2,400,277 |
LiveXLive Media, Inc. *(a) | 8,492 | 17,069 |
Loral Space & Communications, Inc. | 4,480 | 77,997 |
Madison Square Garden Entertainment Corp. * | 6,349 | 412,685 |
Madison Square Garden Sports Corp. * | 6,349 | 899,272 |
Marchex, Inc., Class B * | 10,570 | 18,075 |
Match Group, Inc. * | 89,729 | 10,478,553 |
MDC Partners, Inc., Class A * | 9,467 | 22,153 |
Meredith Corp. | 14,298 | 157,278 |
MSG Networks, Inc., Class A * | 16,477 | 147,304 |
National CineMedia, Inc. | 18,547 | 36,816 |
Netflix, Inc. * | 153,279 | 72,920,951 |
News Corp., Class A | 136,807 | 1,796,276 |
News Corp., Class B | 41,136 | 535,591 |
Nexstar Media Group, Inc., Class A | 16,002 | 1,318,565 |
Omnicom Group, Inc. | 75,542 | 3,565,582 |
Pinterest, Inc., Class A * | 160,275 | 9,448,211 |
QuinStreet, Inc. * | 14,714 | 235,498 |
Reading International, Inc., Class A * | 4,446 | 10,404 |
Roku, Inc. * | 36,682 | 7,424,437 |
Saga Communications, Inc., Class A | 1,496 | 25,462 |
Scholastic Corp. | 10,758 | 212,578 |
Sciplay Corp., Class A * | 8,602 | 114,837 |
Sinclair Broadcast Group, Inc., Class A | 19,623 | 364,595 |
Sirius XM Holdings, Inc. | 422,799 | 2,422,638 |
Snap, Inc., Class A * | 308,805 | 12,163,829 |
Take-Two Interactive Software, Inc. * | 40,134 | 6,217,559 |
TechTarget, Inc. * | 9,109 | 398,974 |
TEGNA, Inc. | 77,751 | 935,345 |
The E.W. Scripps Co., Class A | 18,724 | 170,014 |
The Interpublic Group of Cos., Inc. | 135,456 | 2,450,399 |
The Marcus Corp. | 7,772 | 56,969 |
The New York Times Co., Class A | 50,827 | 2,015,799 |
The Walt Disney Co. | 627,587 | 76,094,924 |
Travelzoo * | 3,496 | 25,940 |
Tribune Publishing Co. | 7,731 | 88,597 |
TripAdvisor, Inc. | 34,212 | 653,791 |
TrueCar, Inc. * | 39,721 | 173,184 |
Twitter, Inc. * | 276,284 | 11,427,106 |
Security | Number of Shares | Value ($) |
ViacomCBS, Inc., Class B | 199,689 | 5,705,115 |
Warner Music Group Corp., Class A | 30,292 | 803,647 |
WideOpenWest, Inc. * | 13,374 | 66,736 |
World Wrestling Entertainment, Inc., Class A | 15,955 | 580,124 |
Yelp, Inc. * | 23,968 | 471,451 |
Zillow Group, Inc., Class A * | 12,767 | 1,140,476 |
Zillow Group, Inc., Class C * | 49,142 | 4,354,964 |
ZoomInfo Technologies, Inc., Class A * | 20,778 | 789,356 |
Zynga, Inc., Class A * | 345,526 | 3,106,279 |
968,579,513 | ||
Pharmaceuticals, Biotechnology & Life Sciences 7.7% | ||
10X Genomics, Inc., Class A * | 22,471 | 3,076,280 |
89bio, Inc. * | 2,363 | 54,727 |
AbbVie, Inc. | 613,266 | 52,188,937 |
Abeona Therapeutics, Inc. * | 16,276 | 17,415 |
ACADIA Pharmaceuticals, Inc. * | 40,201 | 1,867,336 |
Acceleron Pharma, Inc. * | 18,033 | 1,885,891 |
AcelRx Pharmaceuticals, Inc. *(a) | 28,438 | 48,629 |
Acer Therapeutics, Inc. * | 1,495 | 3,648 |
Aclaris Therapeutics, Inc. * | 20,505 | 78,739 |
Acorda Therapeutics, Inc. * | 15,538 | 13,583 |
Actinium Pharmaceuticals, Inc. *(a) | 2,673 | 26,623 |
Adamas Pharmaceuticals, Inc. * | 17,873 | 54,334 |
Adamis Pharmaceuticals Corp. * | 16,516 | 11,664 |
Adaptive Biotechnologies Corp. * | 28,329 | 1,305,400 |
Adicet Bio, Inc. * | 780 | 8,362 |
ADMA Biologics, Inc. *(a) | 23,778 | 47,318 |
Adverum Biotechnologies, Inc. * | 32,000 | 349,120 |
Aeglea BioTherapeutics, Inc. * | 18,334 | 140,805 |
Aerie Pharmaceuticals, Inc. * | 16,193 | 171,808 |
Aerpio Pharmaceuticals, Inc. *(a) | 12,835 | 17,199 |
Agenus, Inc. * | 55,732 | 205,651 |
AgeX Therapeutics, Inc. * | 10,645 | 16,926 |
Agile Therapeutics, Inc. * | 31,320 | 85,190 |
Agilent Technologies, Inc. | 107,620 | 10,986,926 |
Agios Pharmaceuticals, Inc. * | 21,377 | 856,576 |
AIM ImmunoTech, Inc. *(a) | 20,316 | 42,054 |
Akebia Therapeutics, Inc. * | 51,571 | 114,488 |
Akero Therapeutics, Inc. * | 6,447 | 171,168 |
Akouos, Inc. * | 3,596 | 69,798 |
Albireo Pharma, Inc. * | 5,648 | 178,251 |
Aldeyra Therapeutics, Inc. * | 18,127 | 121,088 |
Alector, Inc. * | 21,859 | 205,693 |
Alexion Pharmaceuticals, Inc. * | 76,192 | 8,772,747 |
Alimera Sciences, Inc. * | 2,627 | 11,007 |
Alkermes plc * | 55,175 | 896,594 |
Allakos, Inc. * | 10,827 | 1,029,972 |
Allena Pharmaceuticals, Inc. * | 6,539 | 8,174 |
Allogene Therapeutics, Inc. * | 22,110 | 749,971 |
Allovir, Inc. * | 4,244 | 112,169 |
Alnylam Pharmaceuticals, Inc. * | 40,043 | 4,924,088 |
Alpine Immune Sciences, Inc. * | 9,194 | 68,955 |
Altimmune, Inc. * | 11,098 | 127,072 |
ALX Oncology Holdings, Inc. * | 1,891 | 74,713 |
AMAG Pharmaceuticals, Inc. * | 9,201 | 126,238 |
Amgen, Inc. | 203,408 | 44,127,332 |
Amicus Therapeutics, Inc. * | 90,148 | 1,607,339 |
Amneal Pharmaceuticals, Inc. * | 43,587 | 181,322 |
Amphastar Pharmaceuticals, Inc. * | 12,144 | 237,901 |
Ampio Pharmaceuticals, Inc. *(a) | 73,284 | 56,062 |
AnaptysBio, Inc. * | 7,720 | 227,431 |
Anavex Life Sciences Corp. * | 15,874 | 93,657 |
ANI Pharmaceuticals, Inc. * | 3,733 | 95,154 |
Anika Therapeutics, Inc. * | 4,606 | 150,248 |
Anixa Biosciences, Inc. * | 9,149 | 18,847 |
Security | Number of Shares | Value ($) |
Annexon, Inc. * | 3,974 | 82,699 |
Apellis Pharmaceuticals, Inc. * | 17,605 | 561,599 |
Applied Genetic Technologies Corp. * | 12,820 | 66,151 |
Applied Molecular Transport, Inc. *(a) | 4,613 | 135,576 |
Applied Therapeutics, Inc. * | 6,111 | 99,426 |
Aprea Therapeutics, Inc. * | 4,858 | 105,953 |
Aptinyx, Inc. * | 17,590 | 51,539 |
Aquestive Therapeutics, Inc. *(a) | 11,077 | 53,613 |
Aravive, Inc. * | 1,524 | 7,056 |
Arbutus Biopharma Corp. *(a) | 32,912 | 92,812 |
Arcturus Therapeutics Holdings, Inc. * | 7,275 | 393,432 |
Arcus Biosciences, Inc. * | 14,657 | 319,523 |
Arcutis Biotherapeutics, Inc. * | 4,374 | 77,945 |
Ardelyx, Inc. * | 23,062 | 117,847 |
Arena Pharmaceuticals, Inc. * | 19,533 | 1,674,369 |
Arrowhead Pharmaceuticals, Inc. * | 36,228 | 2,075,864 |
Arvinas, Inc. * | 9,180 | 191,954 |
Assembly Biosciences, Inc. * | 11,682 | 172,193 |
Assertio Holdings, Inc. * | 18,832 | 11,676 |
Atara Biotherapeutics, Inc. * | 28,343 | 365,908 |
Athenex, Inc. * | 18,260 | 208,164 |
Athersys, Inc. * | 66,911 | 117,094 |
Atreca, Inc. Class A * | 11,123 | 148,603 |
Avantor, Inc. * | 156,312 | 3,637,380 |
AVEO Pharmaceuticals, Inc. * | 2,862 | 15,541 |
Avid Bioservices, Inc. * | 13,897 | 100,753 |
Avidity Biosciences, Inc. * | 4,893 | 121,004 |
Avita Therapeutics, Inc. * | 7,464 | 152,863 |
Avrobio, Inc. * | 9,553 | 136,417 |
Axcella Health, Inc. * | 10,482 | 44,444 |
Axsome Therapeutics, Inc. * | 9,355 | 620,330 |
Aytu BioScience, Inc. * | 60,732 | 57,714 |
Baudax Bio, Inc. *(a) | 2,350 | 2,561 |
Beam Therapeutics, Inc. * | 8,191 | 279,886 |
Berkeley Lights, Inc. * | 1,800 | 130,626 |
Bio-Rad Laboratories, Inc., Class A * | 7,505 | 4,401,082 |
Bio-Techne Corp. | 13,480 | 3,402,487 |
BioCryst Pharmaceuticals, Inc. * | 71,645 | 273,684 |
BioDelivery Sciences International, Inc. * | 25,796 | 81,515 |
Biogen, Inc. * | 54,968 | 13,855,784 |
Biohaven Pharmaceutical Holding Co., Ltd. * | 17,356 | 1,344,396 |
BioMarin Pharmaceutical, Inc. * | 63,004 | 4,689,388 |
BioSpecifics Technologies Corp. * | 2,891 | 254,697 |
Bioxcel Therapeutics, Inc. * | 5,384 | 245,995 |
Black Diamond Therapeutics, Inc. * | 5,042 | 158,873 |
Bluebird Bio, Inc. * | 22,701 | 1,173,869 |
Blueprint Medicines Corp. * | 18,802 | 1,923,069 |
BrainStorm Cell Therapeutics, Inc. *(a) | 11,287 | 113,209 |
Bridgebio Pharma, Inc. * | 26,374 | 1,012,234 |
Bristol-Myers Squibb Co. | 783,757 | 45,810,597 |
Bruker Corp. | 36,256 | 1,542,330 |
Cabaletta Bio, Inc. * | 4,700 | 54,379 |
Calithera Biosciences, Inc. * | 23,390 | 82,801 |
Capricor Therapeutics, Inc. * | 14,545 | 56,144 |
Cara Therapeutics, Inc. * | 16,617 | 220,341 |
Cardiff Oncology, Inc. *(a) | 11,636 | 184,082 |
CareDx, Inc. * | 16,657 | 817,026 |
CASI Pharmaceuticals, Inc. * | 25,215 | 59,255 |
Cassava Sciences, Inc. * | 9,000 | 73,890 |
Catabasis Pharmaceuticals, Inc. * | 13,893 | 18,617 |
Catalent, Inc. * | 57,433 | 5,040,894 |
Catalyst Biosciences, Inc. * | 5,715 | 31,318 |
Catalyst Pharmaceuticals, Inc. * | 28,204 | 83,766 |
CEL-SCI Corp. *(a) | 14,273 | 171,704 |
Celcuity, Inc. * | 2,500 | 13,800 |
Celldex Therapeutics, Inc. * | 16,581 | 262,643 |
Cellular Biomedicine Group, Inc. * | 2,900 | 52,229 |
Security | Number of Shares | Value ($) |
Celsion Corp. * | 17,195 | 8,133 |
Cerecor, Inc. * | 38,687 | 79,695 |
Charles River Laboratories International, Inc. * | 17,375 | 3,956,287 |
Checkpoint Therapeutics, Inc. * | 29,706 | 65,056 |
ChemoCentryx, Inc. * | 17,047 | 818,256 |
Chiasma, Inc. * | 22,407 | 84,026 |
Chimerix, Inc. * | 15,000 | 40,050 |
Chinook Therapeutics, Inc. * | 5,747 | 70,975 |
ChromaDex Corp. * | 12,690 | 57,232 |
Cidara Therapeutics, Inc. * | 19,932 | 52,023 |
Clearside Biomedical, Inc. * | 26,575 | 35,876 |
Clovis Oncology, Inc. *(a) | 33,097 | 163,168 |
Codexis, Inc. * | 17,581 | 234,003 |
Cohbar, Inc. * | 14,681 | 13,451 |
Coherus Biosciences, Inc. * | 19,857 | 331,016 |
Collegium Pharmaceutical, Inc. * | 11,957 | 213,193 |
Concert Pharmaceuticals, Inc. * | 10,357 | 106,884 |
Constellation Pharmaceuticals, Inc. * | 11,201 | 219,764 |
ContraFect Corp. * | 3,915 | 22,120 |
Corbus Pharmaceuticals Holdings, Inc. *(a) | 21,103 | 19,830 |
Corcept Therapeutics, Inc. * | 35,050 | 588,139 |
CorMedix, Inc. * | 5,920 | 29,896 |
Cortexyme, Inc. * | 4,450 | 213,021 |
Crinetics Pharmaceuticals, Inc. * | 8,974 | 108,406 |
Cue Biopharma, Inc. * | 8,970 | 99,926 |
Cyclerion Therapeutics, Inc. * | 15,496 | 36,261 |
Cymabay Therapeutics, Inc. * | 20,365 | 169,437 |
Cytokinetics, Inc. * | 22,346 | 343,458 |
CytomX Therapeutics, Inc. * | 15,748 | 104,252 |
Deciphera Pharmaceuticals, Inc. * | 12,832 | 745,154 |
Denali Therapeutics, Inc. * | 28,191 | 1,206,011 |
DermTech, Inc. * | 6,768 | 86,360 |
Dicerna Pharmaceuticals, Inc. * | 21,946 | 460,647 |
Durect Corp. * | 60,997 | 110,100 |
Dyadic International, Inc. * | 9,040 | 64,546 |
Dynavax Technologies Corp. * | 38,144 | 142,277 |
Eagle Pharmaceuticals, Inc. * | 3,241 | 150,771 |
Editas Medicine, Inc. * | 21,531 | 666,169 |
Eidos Therapeutics, Inc. * | 3,975 | 281,907 |
Eiger BioPharmaceuticals, Inc. * | 10,377 | 92,148 |
Elanco Animal Health, Inc. * | 113,804 | 3,529,062 |
Eli Lilly & Co. | 275,890 | 35,992,609 |
Eloxx Pharmaceuticals, Inc. * | 6,055 | 15,319 |
Emergent BioSolutions, Inc. * | 15,694 | 1,411,989 |
Enanta Pharmaceuticals, Inc. * | 5,853 | 255,366 |
Endo International plc * | 76,529 | 349,738 |
Enochian Biosciences, Inc. *(a) | 7,176 | 21,887 |
Epizyme, Inc. * | 35,227 | 435,406 |
Esperion Therapeutics, Inc. *(a) | 8,439 | 252,917 |
Eton Pharmaceuticals, Inc. *(a) | 5,755 | 41,954 |
Evelo Biosciences, Inc. *(a) | 14,762 | 58,605 |
Evofem Biosciences, Inc. *(a) | 44,028 | 104,346 |
Evoke Pharma, Inc. * | 14,398 | 55,000 |
Evolus, Inc. *(a) | 10,566 | 32,015 |
Exact Sciences Corp. * | 51,386 | 6,363,128 |
Exelixis, Inc. * | 108,079 | 2,213,458 |
Exicure, Inc. * | 16,798 | 25,197 |
EyePoint Pharmaceuticals, Inc. * | 14,600 | 5,462 |
Fate Therapeutics, Inc. * | 24,581 | 1,091,396 |
FibroGen, Inc. * | 29,051 | 1,114,977 |
Five Prime Therapeutics, Inc. * | 14,036 | 64,004 |
Flexion Therapeutics, Inc. * | 17,854 | 214,069 |
Fluidigm Corp. * | 20,340 | 116,752 |
Forma Therapeutics Holdings, Inc. * | 4,210 | 181,535 |
Forte Biosciences, Inc. * | 3,571 | 136,269 |
Fortress Biotech, Inc. * | 29,965 | 65,923 |
Security | Number of Shares | Value ($) |
Frequency Therapeutics, Inc. * | 11,156 | 244,093 |
Fulcrum Therapeutics, Inc. * | 3,029 | 29,866 |
G1 Therapeutics, Inc. * | 10,022 | 110,142 |
Galectin Therapeutics, Inc. *(a) | 8,013 | 20,353 |
Generation Bio Co. * | 3,505 | 90,569 |
Genprex, Inc. * | 19,781 | 64,288 |
Geron Corp. * | 124,831 | 217,206 |
Gilead Sciences, Inc. | 435,518 | 25,325,372 |
Global Blood Therapeutics, Inc. * | 21,893 | 1,157,702 |
GlycoMimetics, Inc. * | 11,422 | 31,982 |
Gossamer Bio, Inc. * | 19,746 | 163,892 |
Gritstone Oncology, Inc. * | 3,670 | 10,019 |
Halozyme Therapeutics, Inc. * | 44,378 | 1,242,584 |
Harpoon Therapeutics, Inc. * | 3,414 | 49,401 |
Harrow Health, Inc. * | 6,848 | 32,596 |
Harvard Bioscience, Inc. * | 7,316 | 24,728 |
Heat Biologics, Inc. *(a) | 68,347 | 82,016 |
Heron Therapeutics, Inc. * | 27,636 | 450,743 |
Homology Medicines, Inc. * | 10,003 | 105,732 |
Hookipa Pharma, Inc. * | 7,000 | 65,800 |
Horizon Therapeutics plc * | 73,320 | 5,493,868 |
iBio, Inc. *(a) | 74,003 | 128,765 |
Ideaya Biosciences, Inc. * | 6,139 | 74,712 |
Idera Pharmaceuticals, Inc. * | 6,495 | 17,861 |
IGM Biosciences, Inc. * | 3,122 | 164,810 |
Illumina, Inc. * | 50,707 | 14,841,939 |
IMARA, Inc. *(a) | 2,286 | 36,142 |
Immunic, Inc. *(a) | 6,574 | 104,132 |
ImmunoGen, Inc. * | 60,129 | 339,128 |
Immunovant, Inc. * | 13,836 | 603,526 |
Incyte Corp. * | 63,893 | 5,535,690 |
Infinity Pharmaceuticals, Inc. * | 29,948 | 31,445 |
Innoviva, Inc. * | 25,683 | 277,633 |
Inovio Pharmaceuticals, Inc. *(a) | 60,039 | 591,384 |
Inozyme Pharma, Inc. * | 2,857 | 65,625 |
Insmed, Inc. * | 35,278 | 1,162,057 |
Intellia Therapeutics, Inc. * | 20,808 | 498,144 |
Intercept Pharmaceuticals, Inc. * | 8,908 | 247,553 |
Intersect ENT, Inc. * | 10,273 | 159,231 |
Intra-Cellular Therapies, Inc. * | 24,129 | 595,262 |
Invitae Corp. * | 45,781 | 1,795,073 |
Ionis Pharmaceuticals, Inc. * | 47,397 | 2,225,289 |
Iovance Biotherapeutics, Inc. * | 46,865 | 1,672,143 |
IQVIA Holdings, Inc. * | 66,054 | 10,171,655 |
Ironwood Pharmaceuticals, Inc. * | 57,811 | 571,173 |
iTeos Therapeutics, Inc. * | 2,756 | 62,754 |
IVERIC bio, Inc. * | 34,399 | 203,642 |
Jazz Pharmaceuticals plc * | 19,521 | 2,812,976 |
Johnson & Johnson | 914,373 | 125,369,682 |
Jounce Therapeutics, Inc. * | 8,460 | 70,387 |
Kadmon Holdings, Inc. * | 57,518 | 195,561 |
Kala Pharmaceuticals, Inc. *(a) | 16,458 | 108,623 |
KalVista Pharmaceuticals, Inc. * | 3,000 | 51,630 |
Karuna Therapeutics, Inc. * | 5,494 | 446,058 |
Karyopharm Therapeutics, Inc. * | 23,124 | 342,698 |
Keros Therapeutics, Inc. * | 3,046 | 169,358 |
Kezar Life Sciences, Inc. * | 11,085 | 56,755 |
Kindred Biosciences, Inc. * | 18,803 | 65,622 |
Kiniksa Pharmaceuticals Ltd., Class A * | 10,416 | 163,115 |
Kodiak Sciences, Inc. * | 9,164 | 832,183 |
Krystal Biotech, Inc. * | 4,398 | 189,070 |
Kura Oncology, Inc. * | 18,795 | 587,344 |
La Jolla Pharmaceutical Co. *(a) | 9,862 | 33,531 |
Lannett Co., Inc. * | 8,800 | 56,584 |
Larimar Therapeutics, Inc. * | 6,617 | 124,400 |
Leap Therapeutics, Inc. * | 37,424 | 72,977 |
Lexicon Pharmaceuticals, Inc. *(a) | 18,214 | 20,218 |
Ligand Pharmaceuticals, Inc. *(a) | 5,614 | 462,874 |
Security | Number of Shares | Value ($) |
Lineage Cell Therapeutics, Inc. *(a) | 66,180 | 72,798 |
Liquidia Technologies, Inc. * | 2,763 | 12,765 |
Luminex Corp. | 14,584 | 321,431 |
MacroGenics, Inc. * | 17,720 | 343,945 |
Madrigal Pharmaceuticals, Inc. * | 3,520 | 447,920 |
Magenta Therapeutics, Inc. * | 7,928 | 50,026 |
MannKind Corp. * | 76,925 | 154,619 |
Marinus Pharmaceuticals, Inc. * | 5,580 | 72,763 |
Marker Therapeutics, Inc. *(a) | 8,200 | 11,152 |
Matinas BioPharma Holdings, Inc. * | 35,096 | 28,287 |
MediciNova, Inc. * | 10,435 | 58,332 |
Medpace Holdings, Inc. * | 9,670 | 1,072,790 |
MEI Pharma, Inc. * | 32,178 | 83,663 |
Merck & Co., Inc. | 878,448 | 66,068,074 |
Merrimack Pharmaceuticals, Inc. | 7,188 | 27,746 |
Mersana Therapeutics, Inc. * | 18,829 | 339,299 |
Mettler-Toledo International, Inc. * | 8,331 | 8,313,588 |
Minerva Neurosciences, Inc. * | 8,467 | 27,179 |
Mirati Therapeutics, Inc. * | 15,158 | 3,291,408 |
Mirum Pharmaceuticals, Inc. * | 4,255 | 67,016 |
Moderna, Inc. * | 104,137 | 7,026,123 |
Molecular Templates, Inc. * | 15,226 | 134,598 |
Morphic Holding, Inc. * | 3,280 | 88,265 |
Mustang Bio, Inc. * | 12,479 | 33,257 |
Mylan N.V. * | 181,498 | 2,638,981 |
MyoKardia, Inc. * | 18,771 | 4,195,882 |
Myriad Genetics, Inc. * | 24,574 | 305,455 |
NanoString Technologies, Inc. * | 14,981 | 549,054 |
NantKwest, Inc. *(a) | 20,978 | 157,545 |
Natera, Inc. * | 26,557 | 1,786,224 |
Nektar Therapeutics * | 62,015 | 982,318 |
NeoGenomics, Inc. * | 38,645 | 1,516,043 |
Neoleukin Therapeutics, Inc. * | 9,946 | 104,334 |
Neos Therapeutics, Inc. * | 21,090 | 14,280 |
Neubase Therapeutics, Inc. * | 6,234 | 48,843 |
Neurocrine Biosciences, Inc. * | 32,815 | 3,237,856 |
NextCure, Inc. * | 2,706 | 26,140 |
NGM Biopharmaceuticals, Inc. * | 5,308 | 92,041 |
Nkarta, Inc. * | 4,945 | 141,971 |
Novavax, Inc. * | 19,839 | 1,601,206 |
Nurix Therapeutics, Inc. * | 3,216 | 81,333 |
Ocular Therapeutix, Inc. * | 21,913 | 208,173 |
Odonate Therapeutics, Inc. * | 4,197 | 60,479 |
Omeros Corp. *(a) | 19,743 | 200,194 |
Oncocyte Corp. * | 9,386 | 13,891 |
OPKO Health, Inc. * | 147,982 | 520,897 |
Optinose, Inc. * | 5,946 | 19,027 |
Organogenesis Holdings, Inc. * | 6,071 | 22,159 |
Organovo Holdings, Inc. * | 1,687 | 14,474 |
Orgenesis, Inc. * | 9,467 | 42,886 |
ORIC Pharmaceuticals, Inc. * | 3,386 | 72,799 |
Otonomy, Inc. * | 31,843 | 113,998 |
Ovid therapeutics, Inc. * | 8,556 | 43,721 |
Oyster Point Pharma, Inc. * | 4,006 | 79,439 |
Pacific Biosciences of California, Inc. * | 58,884 | 771,969 |
Pacira BioSciences, Inc. * | 14,769 | 772,419 |
Palatin Technologies, Inc. * | 56,900 | 22,174 |
Paratek Pharmaceuticals, Inc. * | 17,405 | 83,022 |
Passage Bio, Inc. * | 5,390 | 90,606 |
PDL BioPharma, Inc. * | 45,080 | 96,922 |
PerkinElmer, Inc. | 38,792 | 5,025,504 |
Perrigo Co., plc | 48,431 | 2,124,668 |
Personalis, Inc. * | 8,080 | 199,818 |
Pfizer, Inc. | 1,929,965 | 68,475,158 |
PhaseBio Pharmaceuticals, Inc. * | 8,241 | 22,498 |
Phathom Pharmaceuticals, Inc. * | 4,189 | 164,879 |
Phibro Animal Health Corp., Class A | 6,184 | 101,665 |
Pieris Pharmaceuticals, Inc. * | 19,437 | 48,787 |
Security | Number of Shares | Value ($) |
Pliant Therapeutics, Inc. * | 3,305 | 71,454 |
PolarityTE, Inc. * | 4,800 | 4,747 |
PPD, Inc. * | 37,519 | 1,233,625 |
PRA Health Sciences, Inc. * | 22,616 | 2,203,703 |
Precigen, Inc. *(a) | 32,517 | 139,498 |
Precision BioSciences, Inc. * | 16,000 | 100,960 |
Prestige Consumer Healthcare, Inc. * | 18,007 | 594,771 |
Prevail Therapeutics, Inc. * | 4,126 | 40,394 |
Protagonist Therapeutics, Inc. * | 13,355 | 253,077 |
Protara Therapeutics, Inc. * | 3,990 | 71,581 |
Proteostasis Therapeutics, Inc. * | 7,700 | 7,523 |
Prothena Corp. plc * | 14,018 | 152,936 |
Provention Bio, Inc. * | 17,656 | 209,400 |
PTC Therapeutics, Inc. * | 22,415 | 1,169,839 |
Puma Biotechnology, Inc. * | 12,061 | 100,951 |
Qualigen Therapeutics, Inc. * | 15,420 | 59,213 |
Quanterix Corp. * | 7,411 | 271,317 |
Radius Health, Inc. * | 14,153 | 189,792 |
Rapt Therapeutics, Inc. * | 4,080 | 117,259 |
Reata Pharmaceuticals, Inc., Class A * | 8,788 | 1,025,647 |
Recro Pharma, Inc. * | 5,876 | 9,343 |
Regeneron Pharmaceuticals, Inc. * | 36,195 | 19,674,154 |
REGENXBIO, Inc. * | 10,810 | 310,896 |
Relay Therapeutics, Inc. * | 6,800 | 251,192 |
Relmada Therapeutics, Inc. * | 4,357 | 134,762 |
Repligen Corp. * | 16,663 | 2,775,556 |
Replimune Group, Inc. * | 8,748 | 365,754 |
Retrophin, Inc. * | 16,461 | 333,171 |
Revance Therapeutics, Inc. * | 22,514 | 582,662 |
REVOLUTION Medicines, Inc. * | 15,187 | 458,496 |
Rhythm Pharmaceuticals, Inc. * | 10,913 | 231,028 |
Rigel Pharmaceuticals, Inc. * | 48,200 | 119,536 |
Rocket Pharmaceuticals, Inc. * | 14,208 | 396,972 |
Royalty Pharma plc, Class A | 27,240 | 999,708 |
Rubius Therapeutics, Inc. * | 14,159 | 59,893 |
Sage Therapeutics, Inc. * | 18,853 | 1,383,433 |
Sangamo Therapeutics, Inc. * | 39,121 | 404,511 |
Sarepta Therapeutics, Inc. * | 27,257 | 3,704,499 |
Satsuma Pharmaceuticals, Inc. * | 2,719 | 9,680 |
Savara, Inc. * | 8,700 | 9,048 |
Scholar Rock Holding Corp. * | 4,699 | 182,791 |
scPharmaceuticals, Inc. * | 7,411 | 63,883 |
SCYNEXIS, Inc. *(a) | 11,044 | 48,262 |
Seagen, Inc. * | 42,272 | 7,050,970 |
Selecta Biosciences, Inc. * | 47,517 | 140,650 |
Seres Therapeutics, Inc. * | 18,935 | 528,097 |
Sesen Bio, Inc. * | 11,000 | 11,220 |
SIGA Technologies, Inc. * | 17,097 | 109,250 |
Soleno Therapeutics, Inc. * | 34,445 | 59,934 |
Sorrento Therapeutics, Inc. *(a) | 74,175 | 514,774 |
Spectrum Pharmaceuticals, Inc. * | 58,461 | 200,521 |
Spero Therapeutics, Inc. * | 4,404 | 57,736 |
Spring Bank Pharmaceuticals, Inc. * | 3,900 | 4,017 |
SpringWorks Therapeutics, Inc. * | 9,320 | 540,467 |
Stoke Therapeutics, Inc. * | 3,770 | 144,730 |
Strongbridge Biopharma plc * | 27,016 | 52,681 |
Supernus Pharmaceuticals, Inc. * | 20,133 | 369,642 |
Surface Oncology, Inc. * | 10,490 | 87,906 |
Sutro Biopharma, Inc. * | 12,078 | 155,323 |
Syndax Pharmaceuticals, Inc. * | 8,335 | 145,112 |
Syneos Health, Inc. * | 24,259 | 1,287,668 |
Synlogic, Inc. * | 4,700 | 8,742 |
Syros Pharmaceuticals, Inc. * | 15,634 | 104,279 |
T2 Biosystems, Inc. *(a) | 47,515 | 63,670 |
TCR2 Therapeutics, Inc. * | 9,468 | 186,236 |
Teligent, Inc. * | 1,290 | 689 |
TFF Pharmaceuticals, Inc. *(a) | 5,752 | 73,280 |
TG Therapeutics, Inc. * | 36,882 | 932,008 |
Security | Number of Shares | Value ($) |
TherapeuticsMD, Inc. *(a) | 66,164 | 80,720 |
Theravance Biopharma, Inc. * | 16,642 | 314,700 |
Thermo Fisher Scientific, Inc. | 137,337 | 64,976,881 |
Tonix Pharmaceuticals Holding Corp. * | 91,097 | 51,187 |
Translate Bio, Inc. * | 26,747 | 343,164 |
Trevena, Inc. * | 73,478 | 192,512 |
Tricida, Inc. * | 9,420 | 53,035 |
Turning Point Therapeutics, Inc. * | 14,280 | 1,316,473 |
Twist Bioscience Corp. * | 13,687 | 1,048,972 |
Tyme Technologies, Inc. * | 21,100 | 18,317 |
Ultragenyx Pharmaceutical, Inc. * | 21,231 | 2,133,715 |
uniQure N.V. * | 12,956 | 523,811 |
United Therapeutics Corp. * | 15,502 | 2,080,833 |
UNITY Biotechnology, Inc. * | 12,594 | 48,739 |
Urovant Sciences Ltd. * | 3,443 | 25,444 |
Vanda Pharmaceuticals, Inc. * | 17,728 | 189,512 |
Vaxart, Inc. *(a) | 39,990 | 196,751 |
Vaxcyte, Inc. * | 5,525 | 206,469 |
VBI Vaccines, Inc. *(a) | 82,952 | 194,937 |
Veracyte, Inc. * | 18,158 | 629,356 |
Verastem, Inc. * | 47,595 | 57,114 |
Vericel Corp. * | 16,052 | 297,444 |
Verrica Pharmaceuticals, Inc. * | 6,711 | 49,728 |
Vertex Pharmaceuticals, Inc. * | 90,476 | 18,851,579 |
Viela Bio, Inc. * | 6,450 | 205,819 |
Viking Therapeutics, Inc. * | 20,063 | 112,955 |
Vir Biotechnology, Inc. * | 22,994 | 722,931 |
Voyager Therapeutics, Inc. * | 7,809 | 83,010 |
VYNE Therapeutics, Inc. * | 56,167 | 89,867 |
Waters Corp. * | 21,761 | 4,848,786 |
WaVe Life Sciences Ltd. * | 6,065 | 42,880 |
X4 Pharmaceuticals, Inc. * | 6,559 | 37,649 |
XBiotech, Inc. *(a) | 5,316 | 90,957 |
Xencor, Inc. * | 20,116 | 772,052 |
Xeris Pharmaceuticals, Inc. *(a) | 12,101 | 57,238 |
XOMA Corp. *(a) | 3,231 | 80,161 |
Y-mAbs Therapeutics, Inc. * | 8,715 | 372,479 |
Zentalis Pharmaceuticals, Inc. * | 3,997 | 158,241 |
ZIOPHARM Oncology, Inc. * | 62,109 | 129,808 |
Zoetis, Inc. | 165,058 | 26,169,946 |
Zogenix, Inc. * | 18,300 | 390,156 |
Zynerba Pharmaceuticals, Inc. * | 9,398 | 32,235 |
880,588,764 | ||
Real Estate 3.2% | ||
Acadia Realty Trust | 30,302 | 282,718 |
Agree Realty Corp. | 18,856 | 1,170,392 |
Alexander & Baldwin, Inc. | 25,298 | 325,079 |
Alexander's, Inc. | 799 | 194,309 |
Alexandria Real Estate Equities, Inc. | 40,718 | 6,169,591 |
Alpine Income Property Trust, Inc. | 4,139 | 57,739 |
Altisource Portfolio Solutions S.A. * | 3,227 | 35,916 |
American Assets Trust, Inc. | 16,885 | 353,403 |
American Campus Communities, Inc. | 47,775 | 1,789,651 |
American Finance Trust, Inc. | 38,891 | 224,207 |
American Homes 4 Rent, Class A | 92,323 | 2,609,971 |
American Tower Corp. | 154,083 | 35,385,161 |
Americold Realty Trust | 70,306 | 2,547,186 |
Apartment Investment & Management Co., Class A | 51,415 | 1,640,138 |
Apple Hospitality REIT, Inc. | 73,680 | 729,432 |
Armada Hoffler Properties, Inc. | 20,207 | 182,065 |
Ashford Hospitality Trust, Inc. | 2,633 | 3,397 |
AvalonBay Communities, Inc. | 48,486 | 6,745,857 |
Bluerock Residential Growth REIT, Inc. | 7,000 | 60,620 |
Boston Properties, Inc. | 49,261 | 3,566,989 |
Braemar Hotels & Resorts, Inc. | 9,906 | 23,973 |
Security | Number of Shares | Value ($) |
Brandywine Realty Trust | 62,660 | 548,902 |
Brixmor Property Group, Inc. | 104,089 | 1,140,815 |
BRT Apartments Corp. | 3,343 | 41,620 |
Camden Property Trust | 33,176 | 3,060,154 |
CareTrust REIT, Inc. | 33,592 | 574,423 |
CatchMark Timber Trust, Inc., Class A | 18,210 | 158,245 |
CBL & Associates Properties, Inc. * | 72,502 | 10,948 |
CBRE Group, Inc., Class A * | 116,812 | 5,887,325 |
Cedar Realty Trust, Inc. | 49,168 | 46,710 |
Chatham Lodging Trust | 15,396 | 113,161 |
City Office REIT, Inc. | 20,326 | 128,460 |
Clipper Realty, Inc. | 4,400 | 24,728 |
Colony Capital, Inc. | 172,207 | 613,057 |
Columbia Property Trust, Inc. | 41,944 | 443,768 |
Community Healthcare Trust, Inc. | 7,003 | 324,239 |
CoreCivic, Inc. | 45,253 | 290,072 |
CorEnergy Infrastructure Trust, Inc. | 5,381 | 25,183 |
CorePoint Lodging, Inc. | 11,164 | 53,364 |
CoreSite Realty Corp. | 14,795 | 1,765,931 |
Corporate Office Properties Trust | 39,086 | 876,699 |
Cousins Properties, Inc. | 52,451 | 1,336,451 |
Crown Castle International Corp. | 145,359 | 22,705,076 |
CTO Realty Growth, Inc. | 2,000 | 88,260 |
CubeSmart | 68,353 | 2,319,217 |
Cushman & Wakefield plc * | 37,000 | 433,640 |
CyrusOne, Inc. | 40,086 | 2,848,110 |
DiamondRock Hospitality Co. | 72,760 | 359,434 |
Digital Realty Trust, Inc. | 93,363 | 13,472,281 |
Diversified Healthcare Trust | 84,248 | 243,898 |
Douglas Emmett, Inc. | 56,936 | 1,343,690 |
Duke Realty Corp. | 129,199 | 4,908,270 |
Easterly Government Properties, Inc. | 26,264 | 548,918 |
EastGroup Properties, Inc. | 13,652 | 1,816,808 |
Empire State Realty Trust, Inc., Class A | 51,702 | 278,157 |
EPR Properties | 27,148 | 647,208 |
Equinix, Inc. | 30,673 | 22,429,324 |
Equity Commonwealth | 41,788 | 1,104,039 |
Equity LifeStyle Properties, Inc. | 57,909 | 3,427,634 |
Equity Residential | 117,849 | 5,536,546 |
Essential Properties Realty Trust, Inc. | 33,828 | 558,839 |
Essex Property Trust, Inc. | 22,605 | 4,624,757 |
eXp World Holdings, Inc. * | 8,411 | 356,542 |
Extra Space Storage, Inc. | 44,299 | 5,136,469 |
Farmland Partners, Inc. | 14,823 | 95,460 |
Federal Realty Investment Trust | 23,924 | 1,645,493 |
First Industrial Realty Trust, Inc. | 45,112 | 1,795,909 |
Forestar Group, Inc. * | 4,926 | 81,969 |
Four Corners Property Trust, Inc. | 24,714 | 626,253 |
Franklin Street Properties Corp. | 43,069 | 180,890 |
Front Yard Residential Corp. | 16,297 | 218,217 |
FRP Holdings, Inc. * | 2,400 | 97,104 |
Gaming & Leisure Properties, Inc. | 72,988 | 2,653,114 |
Getty Realty Corp. | 12,072 | 317,252 |
Gladstone Commercial Corp. | 11,924 | 193,765 |
Gladstone Land Corp. | 6,594 | 91,459 |
Global Medical REIT, Inc. | 15,239 | 189,421 |
Global Net Lease, Inc. | 32,094 | 456,698 |
Griffin Industrial Realty, Inc. | 1,332 | 70,663 |
Healthcare Realty Trust, Inc. | 47,394 | 1,317,553 |
Healthcare Trust of America, Inc., Class A | 76,123 | 1,849,789 |
Healthpeak Properties, Inc. | 187,021 | 5,043,956 |
Hersha Hospitality Trust | 12,806 | 62,749 |
Highwoods Properties, Inc. | 36,440 | 1,084,819 |
Host Hotels & Resorts, Inc. | 242,356 | 2,539,891 |
Hudson Pacific Properties, Inc. | 54,632 | 1,052,212 |
Independence Realty Trust, Inc. | 33,275 | 404,291 |
Industrial Logistics Properties Trust | 24,598 | 471,790 |
Security | Number of Shares | Value ($) |
Innovative Industrial Properties, Inc. | 7,517 | 876,708 |
Investors Real Estate Trust | 4,576 | 308,468 |
Invitation Homes, Inc. | 194,434 | 5,300,271 |
Iron Mountain, Inc. | 99,014 | 2,580,305 |
iStar, Inc. | 26,151 | 308,582 |
JBG SMITH Properties | 39,272 | 917,001 |
Jernigan Capital, Inc. | 8,486 | 146,723 |
Jones Lang LaSalle, Inc. | 18,217 | 2,055,971 |
Kennedy-Wilson Holdings, Inc. | 41,765 | 550,463 |
Kilroy Realty Corp. | 35,846 | 1,687,630 |
Kimco Realty Corp. | 147,082 | 1,509,061 |
Kite Realty Group Trust | 30,129 | 312,136 |
Lamar Advertising Co., Class A | 30,457 | 1,887,116 |
Lexington Realty Trust | 97,707 | 970,230 |
Life Storage, Inc. | 16,520 | 1,885,758 |
LTC Properties, Inc. | 13,932 | 459,895 |
Mack-Cali Realty Corp. | 32,057 | 352,306 |
Marcus & Millichap, Inc. * | 8,253 | 257,741 |
Maui Land & Pineapple Co., Inc. * | 3,129 | 31,572 |
Medical Properties Trust, Inc. | 185,276 | 3,301,618 |
Mid-America Apartment Communities, Inc. | 39,214 | 4,573,529 |
Monmouth Real Estate Investment Corp. | 32,076 | 444,253 |
National Health Investors, Inc. | 15,304 | 857,789 |
National Retail Properties, Inc. | 60,303 | 1,930,299 |
National Storage Affiliates Trust | 21,647 | 733,617 |
NETSTREIT Corp. | 3,836 | 67,283 |
New Century Financial Corp. *(b) | 3,600 | — |
New Senior Investment Group, Inc. | 31,775 | 124,240 |
Newmark Group, Inc., Class A | 51,828 | 245,406 |
NexPoint Residential Trust, Inc. | 7,312 | 324,068 |
Office Properties Income Trust | 17,468 | 321,586 |
Omega Healthcare Investors, Inc. | 77,768 | 2,240,496 |
One Liberty Properties, Inc. | 6,163 | 95,095 |
Outfront Media, Inc. | 49,316 | 646,533 |
Paramount Group, Inc. | 59,046 | 341,286 |
Park Hotels & Resorts, Inc. | 84,207 | 836,175 |
Pebblebrook Hotel Trust | 46,661 | 558,999 |
Pennsylvania Real Estate Investment Trust | 18,917 | 9,440 |
Physicians Realty Trust | 70,159 | 1,182,881 |
Piedmont Office Realty Trust, Inc., Class A | 45,430 | 518,811 |
Plymouth Industrial REIT, Inc. | 6,969 | 88,576 |
Postal Realty Trust, Inc., Class A | 4,154 | 57,658 |
PotlatchDeltic Corp. | 24,056 | 999,527 |
Preferred Apartment Communities, Inc., Class A | 15,145 | 81,783 |
Prologis, Inc. | 255,949 | 25,390,141 |
PS Business Parks, Inc. | 7,180 | 818,735 |
Public Storage | 52,684 | 12,068,324 |
QTS Realty Trust, Inc., Class A | 21,162 | 1,301,675 |
Rafael Holdings, Inc., Class B * | 3,200 | 52,480 |
Rayonier, Inc. | 48,805 | 1,238,671 |
RE/MAX Holdings, Inc., Class A | 6,136 | 198,438 |
Realogy Holdings Corp. * | 39,454 | 440,307 |
Realty Income Corp. | 119,612 | 6,920,750 |
Redfin Corp. * | 33,349 | 1,392,988 |
Regency Centers Corp. | 54,793 | 1,950,083 |
Retail Opportunity Investments Corp. | 40,733 | 396,332 |
Retail Properties of America, Inc., Class A | 78,447 | 411,062 |
Retail Value, Inc. | 4,935 | 61,687 |
Rexford Industrial Realty, Inc. | 43,025 | 1,998,941 |
RLJ Lodging Trust | 59,027 | 482,841 |
RPT Realty | 25,122 | 122,847 |
Ryman Hospitality Properties, Inc. | 19,998 | 796,920 |
Security | Number of Shares | Value ($) |
Sabra Health Care REIT, Inc. | 73,938 | 973,024 |
Safehold, Inc. | 4,707 | 323,936 |
Saul Centers, Inc. | 4,700 | 116,325 |
SBA Communications Corp. | 38,834 | 11,276,229 |
Seritage Growth Properties, Class A *(a) | 12,504 | 159,176 |
Service Properties Trust | 55,854 | 402,707 |
Simon Property Group, Inc. | 106,334 | 6,678,839 |
SITE Centers Corp. | 51,954 | 353,807 |
SL Green Realty Corp. | 25,528 | 1,092,854 |
Sotherly Hotels, Inc. | 6,858 | 10,424 |
Spirit Realty Capital, Inc. | 36,948 | 1,110,287 |
STAG Industrial, Inc. | 51,854 | 1,613,696 |
STORE Capital Corp. | 78,944 | 2,028,861 |
Stratus Properties, Inc. * | 3,398 | 72,615 |
Summit Hotel Properties, Inc. | 33,342 | 176,046 |
Sun Communities, Inc. | 34,121 | 4,696,073 |
Sunstone Hotel Investors, Inc. | 78,056 | 579,176 |
Tanger Factory Outlet Centers, Inc. (a) | 34,601 | 214,180 |
Taubman Centers, Inc. | 21,237 | 709,741 |
Tejon Ranch Co. * | 8,332 | 114,232 |
Terreno Realty Corp. | 23,859 | 1,342,784 |
The GEO Group, Inc. | 41,833 | 370,640 |
The Howard Hughes Corp. * | 16,115 | 1,002,192 |
The Macerich Co. (a) | 40,077 | 278,936 |
The RMR Group, Inc., Class A | 5,078 | 135,379 |
The St. Joe Co. * | 12,244 | 331,078 |
Trinity Place Holdings, Inc. * | 12,207 | 16,968 |
UDR, Inc. | 102,355 | 3,197,570 |
UMH Properties, Inc. | 15,491 | 211,142 |
Uniti Group, Inc. | 70,885 | 625,206 |
Universal Health Realty Income Trust | 4,654 | 248,849 |
Urban Edge Properties | 39,017 | 366,760 |
Urstadt Biddle Properties, Inc., Class A | 12,971 | 123,354 |
Ventas, Inc. | 129,851 | 5,125,219 |
VEREIT, Inc. | 374,477 | 2,321,757 |
VICI Properties, Inc. | 182,910 | 4,197,784 |
Vornado Realty Trust | 55,086 | 1,692,793 |
Washington Real Estate Investment Trust | 29,116 | 508,948 |
Weingarten Realty Investors | 42,722 | 677,571 |
Welltower, Inc. | 145,176 | 7,806,113 |
Weyerhaeuser Co. | 259,712 | 7,087,540 |
Whitestone REIT | 16,023 | 95,497 |
WP Carey, Inc. | 59,943 | 3,753,031 |
Xenia Hotels & Resorts, Inc. | 39,452 | 325,084 |
372,856,413 | ||
Retailing 7.4% | ||
1-800-Flowers.com, Inc., Class A * | 9,456 | 187,512 |
Aaron's Holdings Co., Inc. | 23,978 | 1,253,090 |
Abercrombie & Fitch Co., Class A | 21,254 | 302,232 |
Advance Auto Parts, Inc. | 23,900 | 3,519,992 |
Amazon.com, Inc. * | 147,856 | 448,912,994 |
America's Car-Mart, Inc. * | 1,960 | 169,579 |
American Eagle Outfitters, Inc. | 53,009 | 726,753 |
Asbury Automotive Group, Inc. * | 6,543 | 673,798 |
At Home Group, Inc. * | 17,390 | 283,283 |
AutoNation, Inc. * | 20,397 | 1,157,122 |
AutoZone, Inc. * | 8,064 | 9,104,095 |
Barnes & Noble Education, Inc. * | 22,732 | 52,284 |
Bed Bath & Beyond, Inc. | 44,734 | 885,733 |
Best Buy Co., Inc. | 79,599 | 8,879,268 |
Big 5 Sporting Goods Corp. (a) | 12,274 | 90,091 |
Big Lots, Inc. | 13,002 | 618,895 |
Blink Charging Co. *(a) | 11,425 | 88,658 |
Blue Apron Holdings, Inc., Class A *(a) | 3,119 | 13,412 |
Booking Holdings, Inc. * | 14,229 | 23,086,552 |
Boot Barn Holdings, Inc. * | 10,141 | 324,715 |
Security | Number of Shares | Value ($) |
Build-A-Bear Workshop, Inc. * | 6,224 | 25,705 |
Burlington Stores, Inc. * | 22,824 | 4,418,270 |
Caleres, Inc. | 13,090 | 100,531 |
Camping World Holdings, Inc., Class A | 11,291 | 298,534 |
CarMax, Inc. * | 56,904 | 4,918,782 |
CarParts.com, Inc. * | 11,951 | 151,658 |
Carvana Co. * | 19,488 | 3,612,101 |
Chewy, Inc., Class A * | 24,811 | 1,528,358 |
Chico's FAS, Inc. | 43,544 | 46,592 |
Citi Trends, Inc. | 3,906 | 101,986 |
Conn's, Inc. * | 7,143 | 66,930 |
Core-Mark Holding Co., Inc. | 16,495 | 451,138 |
Designer Brands, Inc., Class A | 21,162 | 91,631 |
Destination XL Group, Inc. * | 18,114 | 4,759 |
Dick's Sporting Goods, Inc. | 22,325 | 1,264,711 |
Dillard’s, Inc., Class A (a) | 3,769 | 168,587 |
Dollar General Corp. | 86,267 | 18,004,786 |
Dollar Tree, Inc. * | 82,842 | 7,482,289 |
Duluth Holdings, Inc., Class B * | 2,900 | 44,486 |
eBay, Inc. | 231,834 | 11,042,253 |
Etsy, Inc. * | 41,565 | 5,053,888 |
Expedia Group, Inc. | 47,400 | 4,462,710 |
Express, Inc. * | 20,816 | 12,719 |
Five Below, Inc. * | 19,313 | 2,575,195 |
Floor & Decor Holdings, Inc., Class A * | 35,213 | 2,570,549 |
Foot Locker, Inc. | 37,189 | 1,371,530 |
Funko, Inc., Class A * | 7,067 | 44,805 |
GameStop Corp., Class A *(a) | 20,419 | 213,787 |
Genesco, Inc. * | 5,704 | 101,075 |
Genuine Parts Co. | 49,523 | 4,478,365 |
Group 1 Automotive, Inc. | 6,361 | 674,775 |
Groupon, Inc. * | 8,902 | 172,610 |
GrowGeneration Corp. * | 14,808 | 247,294 |
GrubHub, Inc. * | 32,590 | 2,410,356 |
Guess?, Inc. | 15,095 | 177,819 |
Haverty Furniture Cos., Inc. | 5,712 | 142,914 |
Hibbett Sports, Inc. * | 5,715 | 216,084 |
J. Jill, Inc. * | 6,408 | 4,250 |
Kirkland's, Inc. *(a) | 5,229 | 48,525 |
Kohl's Corp. | 53,419 | 1,137,291 |
L Brands, Inc. | 81,407 | 2,605,838 |
Lands' End, Inc. * | 5,100 | 81,855 |
Leaf Group Ltd. * | 13,902 | 79,241 |
Liquidity Services, Inc. * | 10,485 | 89,437 |
Lithia Motors, Inc., Class A | 8,898 | 2,042,714 |
LKQ Corp. * | 97,344 | 3,114,035 |
LMP Automotive Holdings, Inc. * | 3,465 | 80,215 |
Lowe's Cos., Inc. | 262,340 | 41,475,954 |
Lumber Liquidators Holdings, Inc. * | 10,644 | 235,445 |
Macy's, Inc. | 109,011 | 676,958 |
Magnite, Inc. * | 31,595 | 285,303 |
MarineMax, Inc. * | 6,661 | 199,697 |
Monro, Inc. | 11,231 | 472,376 |
Murphy USA, Inc. * | 9,634 | 1,178,142 |
National Vision Holdings, Inc. * | 28,630 | 1,154,648 |
Nordstrom, Inc. (a) | 37,424 | 452,830 |
O'Reilly Automotive, Inc. * | 25,596 | 11,175,214 |
Ollie's Bargain Outlet Holdings, Inc. * | 20,097 | 1,750,248 |
OneWater Marine, Inc., Class A * | 3,029 | 56,430 |
Overstock.com, Inc. * | 14,751 | 827,531 |
Party City Holdco, Inc. * | 42,981 | 85,532 |
Penske Automotive Group, Inc. | 11,685 | 597,805 |
PetMed Express, Inc. | 8,051 | 238,149 |
Pool Corp. | 13,936 | 4,875,231 |
Quotient Technology, Inc. * | 23,785 | 211,687 |
Qurate Retail, Inc. Class A | 137,251 | 929,189 |
Remark Holdings, Inc. *(a) | 14,578 | 15,453 |
Rent-A-Center, Inc. | 18,166 | 561,329 |
Security | Number of Shares | Value ($) |
Revolve Group, Inc. * | 5,247 | 94,866 |
RH * | 5,399 | 1,809,907 |
Ross Stores, Inc. | 123,619 | 10,528,630 |
Sally Beauty Holdings, Inc. * | 42,597 | 356,537 |
Shoe Carnival, Inc. | 4,036 | 125,035 |
Shutterstock, Inc. | 6,548 | 428,567 |
Signet Jewelers Ltd. | 17,080 | 380,542 |
Sleep Number Corp. * | 10,441 | 661,542 |
Sonic Automotive, Inc., Class A | 9,319 | 336,043 |
Sportsman's Warehouse Holdings, Inc. * | 14,662 | 190,899 |
Stamps.com, Inc. * | 6,079 | 1,357,076 |
Stitch Fix, Inc., Class A * | 18,124 | 624,009 |
Target Corp. | 173,449 | 26,402,407 |
The Buckle, Inc. | 11,461 | 274,606 |
The Cato Corp., Class A | 7,100 | 43,452 |
The Children's Place, Inc. | 5,680 | 143,534 |
The Container Store Group, Inc. * | 6,755 | 64,308 |
The Gap, Inc. | 73,364 | 1,426,930 |
The Home Depot, Inc. | 373,887 | 99,719,402 |
The Michaels Cos., Inc. * | 23,490 | 190,504 |
The ODP Corp. | 18,070 | 352,365 |
The RealReal Inc * | 19,733 | 248,438 |
The TJX Cos., Inc. | 415,288 | 21,096,630 |
Tiffany & Co. | 37,384 | 4,891,323 |
Tilly's, Inc., Class A | 8,425 | 51,730 |
Tractor Supply Co. | 40,626 | 5,411,789 |
TravelCenters of America, Inc. * | 3,867 | 92,035 |
Ulta Beauty, Inc. * | 19,528 | 4,037,805 |
Urban Outfitters, Inc. * | 23,800 | 531,692 |
Vroom, Inc. * | 11,748 | 482,843 |
Waitr Holdings, Inc. * | 40,686 | 103,749 |
Wayfair, Inc., Class A * | 23,789 | 5,900,386 |
Weyco Group, Inc. | 3,066 | 48,565 |
Williams-Sonoma, Inc. | 27,461 | 2,504,718 |
Winmark Corp. | 768 | 130,107 |
Zumiez, Inc. * | 6,342 | 177,576 |
847,039,719 | ||
Semiconductors & Semiconductor Equipment 4.8% | ||
ACM Research, Inc., Class A * | 2,922 | 205,621 |
Advanced Energy Industries, Inc. * | 13,336 | 899,780 |
Advanced Micro Devices, Inc. * | 407,806 | 30,703,714 |
Alpha & Omega Semiconductor Ltd. * | 6,543 | 103,772 |
Ambarella, Inc. * | 12,030 | 657,680 |
Amkor Technology, Inc. * | 38,838 | 460,230 |
Analog Devices, Inc. | 128,225 | 15,198,509 |
Applied Materials, Inc. | 316,383 | 18,739,365 |
Atomera, Inc. * | 8,060 | 65,689 |
Axcelis Technologies, Inc. * | 11,082 | 244,580 |
AXT, Inc. * | 12,666 | 75,363 |
Broadcom, Inc. | 139,654 | 48,827,228 |
Brooks Automation, Inc. | 25,516 | 1,191,597 |
CEVA, Inc. * | 7,638 | 307,964 |
Cirrus Logic, Inc. * | 20,531 | 1,413,970 |
CMC Materials, Inc. | 10,369 | 1,474,368 |
Cohu, Inc. | 16,355 | 355,394 |
Cree, Inc. * | 38,051 | 2,420,044 |
CyberOptics Corp. * | 2,095 | 48,269 |
Diodes, Inc. * | 15,037 | 869,590 |
DSP Group, Inc. * | 6,300 | 82,971 |
Enphase Energy, Inc. * | 43,574 | 4,274,174 |
Entegris, Inc. | 47,011 | 3,515,012 |
Everspin Technologies, Inc. * | 5,399 | 39,683 |
First Solar, Inc. * | 29,434 | 2,562,083 |
FormFactor, Inc. * | 27,482 | 779,115 |
GSI Technology, Inc. * | 8,500 | 51,935 |
Ichor Holdings Ltd. * | 8,793 | 204,525 |
Security | Number of Shares | Value ($) |
Impinj, Inc. * | 5,438 | 138,723 |
Inphi Corp. * | 17,652 | 2,467,043 |
Intel Corp. | 1,477,190 | 65,409,973 |
inTEST Corp. * | 4,258 | 19,842 |
KLA Corp. | 54,055 | 10,658,565 |
Kopin Corp. * | 19,600 | 23,324 |
Kulicke & Soffa Industries, Inc. | 22,537 | 589,117 |
Lam Research Corp. | 50,651 | 17,326,694 |
Lattice Semiconductor Corp. * | 47,339 | 1,652,131 |
MACOM Technology Solutions Holdings, Inc. * | 16,799 | 613,163 |
Marvell Technology Group Ltd. | 231,338 | 8,677,488 |
Maxim Integrated Products, Inc. | 92,721 | 6,458,018 |
MaxLinear, Inc. * | 23,209 | 613,646 |
Microchip Technology, Inc. | 87,087 | 9,151,104 |
Micron Technology, Inc. * | 385,738 | 19,418,051 |
MKS Instruments, Inc. | 19,294 | 2,091,277 |
Monolithic Power Systems, Inc. | 14,671 | 4,688,852 |
NeoPhotonics Corp. * | 17,621 | 119,999 |
NVE Corp. | 1,664 | 76,760 |
NVIDIA Corp. | 214,201 | 107,391,813 |
NXP Semiconductors N.V. | 97,023 | 13,109,748 |
ON Semiconductor Corp. * | 142,532 | 3,576,128 |
Onto Innovation, Inc. * | 17,373 | 557,152 |
PDF Solutions, Inc. * | 9,699 | 181,759 |
Photronics, Inc. * | 24,990 | 243,652 |
Pixelworks, Inc. * | 8,973 | 19,920 |
Power Integrations, Inc. | 21,586 | 1,299,693 |
Qorvo, Inc. * | 40,058 | 5,101,787 |
QUALCOMM, Inc. | 391,263 | 48,266,204 |
QuickLogic Corp. * | 4,377 | 12,387 |
Rambus, Inc. * | 42,063 | 580,049 |
Semtech Corp. * | 23,308 | 1,279,376 |
Silicon Laboratories, Inc. * | 15,186 | 1,555,958 |
SiTime Corp. * | 3,341 | 278,940 |
Skyworks Solutions, Inc. | 57,999 | 8,194,679 |
SMART Global Holdings, Inc. * | 6,138 | 161,982 |
SolarEdge Technologies, Inc. * | 17,612 | 4,538,436 |
SunPower Corp. * | 27,657 | 442,235 |
Synaptics, Inc. * | 11,688 | 896,119 |
Teradyne, Inc. | 58,269 | 5,118,932 |
Texas Instruments, Inc. | 317,623 | 45,925,110 |
Ultra Clean Holdings, Inc. * | 13,767 | 293,099 |
Universal Display Corp. | 15,064 | 2,987,342 |
Veeco Instruments, Inc. * | 16,949 | 215,761 |
Xilinx, Inc. | 84,707 | 10,053,874 |
548,248,130 | ||
Software & Services 14.6% | ||
2U, Inc. * | 25,733 | 948,261 |
8x8, Inc. * | 35,704 | 616,965 |
A10 Networks, Inc. * | 19,377 | 130,601 |
Accenture plc, Class A | 220,847 | 47,903,923 |
ACI Worldwide, Inc. * | 40,243 | 1,173,888 |
Adobe, Inc. * | 166,590 | 74,482,389 |
Agilysys, Inc. * | 6,278 | 170,008 |
Akamai Technologies, Inc. * | 56,971 | 5,419,082 |
Alarm.com Holdings, Inc. * | 14,894 | 868,767 |
Alliance Data Systems Corp. | 16,781 | 864,893 |
Altair Engineering, Inc., Class A * | 13,212 | 568,512 |
Alteryx, Inc., Class A * | 18,362 | 2,301,677 |
American Software, Inc., Class A | 9,461 | 138,887 |
Anaplan, Inc. * | 46,740 | 2,587,059 |
ANSYS, Inc. * | 29,779 | 9,063,834 |
Appfolio, Inc., Class A * | 5,169 | 738,495 |
Appian Corp. * | 12,377 | 783,464 |
Aspen Technology, Inc. * | 23,623 | 2,594,042 |
Security | Number of Shares | Value ($) |
Asure Software, Inc. * | 7,413 | 52,410 |
Autodesk, Inc. * | 76,146 | 17,935,429 |
Automatic Data Processing, Inc. | 149,057 | 23,545,044 |
Avalara, Inc. * | 28,494 | 4,247,031 |
Avaya Holdings Corp. * | 25,945 | 446,254 |
Benefitfocus, Inc. * | 12,031 | 123,558 |
BigCommerce Holdings, Inc. *(a) | 2,953 | 216,750 |
Bill.com Holdings, Inc. * | 20,218 | 2,021,800 |
Black Knight, Inc. * | 54,637 | 4,805,324 |
Blackbaud, Inc. | 17,002 | 838,879 |
Blackline, Inc. * | 16,863 | 1,647,178 |
Booz Allen Hamilton Holding Corp. | 48,521 | 3,808,898 |
Bottomline Technologies (DE), Inc. * | 13,177 | 523,390 |
Box, Inc., Class A * | 51,681 | 801,055 |
Brightcove, Inc. * | 15,409 | 194,924 |
Broadridge Financial Solutions, Inc. | 40,001 | 5,504,138 |
CACI International, Inc., Class A * | 8,761 | 1,826,931 |
Cadence Design Systems, Inc. * | 97,012 | 10,610,202 |
Cardtronics plc, Class A * | 12,687 | 225,955 |
Cass Information Systems, Inc. | 3,769 | 147,820 |
CDK Global, Inc. | 42,540 | 1,833,474 |
Cerence, Inc. * | 13,225 | 721,820 |
Ceridian HCM Holding, Inc. * | 45,039 | 3,883,263 |
ChannelAdvisor Corp. * | 10,971 | 177,730 |
Citrix Systems, Inc. | 42,459 | 4,809,331 |
Cleanspark, Inc. *(a) | 7,384 | 55,749 |
Cloudera, Inc. * | 71,551 | 695,476 |
Cloudflare, Inc., Class A * | 49,483 | 2,571,632 |
Cognizant Technology Solutions Corp., Class A | 188,922 | 13,492,809 |
CommVault Systems, Inc. * | 15,766 | 624,176 |
Conduent, Inc. * | 60,525 | 210,930 |
Cornerstone OnDemand, Inc. * | 21,251 | 807,325 |
Coupa Software, Inc. * | 23,548 | 6,303,800 |
Crowdstrike Holdings, Inc., Class A * | 52,263 | 6,472,250 |
CSG Systems International, Inc. | 10,871 | 411,793 |
Datadog, Inc., Class A * | 61,077 | 5,542,738 |
Digimarc Corp. * | 4,511 | 142,954 |
Digital Turbine, Inc. * | 26,456 | 758,229 |
DocuSign, Inc. * | 63,429 | 12,828,515 |
Domo, Inc., Class B * | 9,803 | 311,441 |
Dropbox, Inc., Class A * | 98,979 | 1,807,357 |
Duck Creek Technologies, Inc. *(a) | 5,200 | 225,524 |
DXC Technology Co. | 91,229 | 1,680,438 |
Dynatrace, Inc. * | 64,317 | 2,271,033 |
Ebix, Inc. | 6,724 | 121,435 |
eGain Corp. * | 7,634 | 120,999 |
Elastic N.V. * | 20,157 | 2,044,121 |
Endurance International Group Holdings, Inc. * | 22,190 | 128,924 |
Envestnet, Inc. * | 18,797 | 1,442,482 |
EPAM Systems, Inc. * | 19,463 | 6,013,094 |
Euronet Worldwide, Inc. * | 18,469 | 1,640,786 |
Everbridge, Inc. * | 12,004 | 1,256,699 |
EVERTEC, Inc. | 20,994 | 698,680 |
Evo Payments, Inc., Class A * | 15,082 | 317,778 |
ExlService Holdings, Inc. * | 11,709 | 886,840 |
Fair Isaac Corp. * | 10,111 | 3,957,951 |
Fastly, Inc., Class A * | 25,642 | 1,628,523 |
Fidelity National Information Services, Inc. | 214,846 | 26,767,663 |
FireEye, Inc. * | 82,175 | 1,137,302 |
Fiserv, Inc. * | 192,968 | 18,422,655 |
Five9, Inc. * | 22,360 | 3,392,459 |
FleetCor Technologies, Inc. * | 29,465 | 6,509,113 |
Fortinet, Inc. * | 46,886 | 5,174,808 |
Gartner, Inc. * | 31,270 | 3,755,527 |
Genpact Ltd. | 60,099 | 2,065,603 |
Security | Number of Shares | Value ($) |
Global Payments, Inc. | 104,072 | 16,416,317 |
GoDaddy, Inc., Class A * | 58,247 | 4,120,393 |
GreenSky, Inc., Class A * | 12,400 | 58,652 |
Grid Dynamics Holdings, Inc. * | 12,077 | 94,201 |
GTT Communications, Inc. *(a) | 11,441 | 42,217 |
GTY Technology Holdings, Inc. * | 16,630 | 48,393 |
Guidewire Software, Inc. * | 29,357 | 2,821,501 |
HubSpot, Inc. * | 14,811 | 4,296,227 |
I3 Verticals, Inc., Class A * | 5,840 | 120,479 |
Information Services Group, Inc. * | 16,112 | 33,030 |
Intelligent Systems Corp. * | 2,218 | 84,107 |
International Business Machines Corp. | 308,763 | 34,476,477 |
International Money Express, Inc. * | 8,993 | 125,093 |
Intuit, Inc. | 91,128 | 28,676,159 |
j2 Global, Inc. * | 15,865 | 1,076,916 |
Jack Henry & Associates, Inc. | 26,989 | 4,001,119 |
Jamf Holding Corp. * | 4,316 | 140,702 |
KBR, Inc. | 50,774 | 1,131,752 |
Leidos Holdings, Inc. | 46,886 | 3,891,538 |
Limelight Networks, Inc. * | 37,860 | 133,646 |
LivePerson, Inc. * | 22,081 | 1,180,450 |
LiveRamp Holdings, Inc. * | 23,402 | 1,546,638 |
Manhattan Associates, Inc. * | 22,605 | 1,932,727 |
ManTech International Corp., Class A | 9,621 | 624,210 |
Mastercard, Inc., Class A | 306,804 | 88,555,907 |
MAXIMUS, Inc. | 21,820 | 1,474,596 |
Medallia, Inc. * | 25,555 | 727,040 |
Microsoft Corp. | 2,627,948 | 532,080,632 |
MicroStrategy, Inc., Class A * | 2,864 | 478,488 |
Mimecast Ltd. * | 18,759 | 716,781 |
Mitek Systems, Inc. * | 18,318 | 228,059 |
MobileIron, Inc. * | 31,619 | 222,598 |
Model N, Inc. * | 9,945 | 350,362 |
MoneyGram International, Inc. * | 19,116 | 98,447 |
MongoDB, Inc. * | 17,278 | 3,947,505 |
NetSol Technologies, Inc. * | 5,701 | 13,739 |
New Relic, Inc. * | 18,399 | 1,116,083 |
NIC, Inc. | 24,953 | 559,446 |
NortonLifeLock, Inc. | 202,485 | 4,165,116 |
Nuance Communications, Inc. * | 96,695 | 3,085,537 |
Nutanix, Inc., Class A * | 62,822 | 1,529,087 |
Okta, Inc. * | 40,667 | 8,533,157 |
OneSpan, Inc. * | 11,041 | 242,129 |
Oracle Corp. | 671,741 | 37,691,388 |
PagerDuty, Inc. * | 19,435 | 526,689 |
Palo Alto Networks, Inc. * | 33,548 | 7,420,482 |
Pareteum Corp. * | 56,410 | 35,138 |
Park City Group, Inc. * | 5,812 | 25,224 |
Paychex, Inc. | 111,548 | 9,174,823 |
Paycom Software, Inc. * | 17,040 | 6,204,094 |
Paylocity Holding Corp. * | 12,526 | 2,323,824 |
PayPal Holdings, Inc. * | 407,785 | 75,901,022 |
Paysign, Inc. * | 12,225 | 58,191 |
Pegasystems, Inc. | 13,316 | 1,543,058 |
Perficient, Inc. * | 11,917 | 466,670 |
Perspecta, Inc. | 47,635 | 854,096 |
PFSweb, Inc. * | 7,732 | 47,938 |
Ping Identity Holding Corp. * | 10,746 | 297,557 |
Pluralsight, Inc., Class A * | 32,038 | 502,997 |
PRGX Global, Inc. * | 6,500 | 35,360 |
Progress Software Corp. | 15,976 | 581,047 |
Proofpoint, Inc. * | 20,189 | 1,932,895 |
PROS Holdings, Inc. * | 13,733 | 386,859 |
PTC, Inc. * | 36,504 | 3,061,956 |
Q2 Holdings, Inc. * | 16,951 | 1,546,609 |
QAD, Inc., Class A | 3,753 | 157,026 |
Qualys, Inc. * | 11,618 | 1,020,641 |
Rackspace Technology, Inc. *(a) | 8,658 | 136,364 |
Security | Number of Shares | Value ($) |
Rapid7, Inc. * | 17,693 | 1,095,727 |
RealNetworks, Inc. * | 13,613 | 19,058 |
RealPage, Inc. * | 30,768 | 1,713,470 |
Repay Holdings Corp. * | 22,600 | 509,178 |
RingCentral, Inc., Class A * | 27,199 | 7,026,590 |
Riot Blockchain, Inc. *(a) | 22,977 | 75,135 |
Sabre Corp. | 109,582 | 714,475 |
SailPoint Technologies Holding, Inc. * | 31,092 | 1,290,629 |
salesforce.com, Inc. * | 316,156 | 73,433,554 |
Science Applications International Corp. | 19,447 | 1,485,167 |
SecureWorks Corp., Class A * | 3,807 | 39,593 |
ServiceNow, Inc. * | 66,598 | 33,137,167 |
ServiceSource International, Inc. * | 26,733 | 37,159 |
SharpSpring, Inc. * | 3,003 | 32,102 |
Shift4 Payments, Inc., Class A * | 8,666 | 441,186 |
ShotSpotter, Inc. * | 2,300 | 67,413 |
Slack Technologies, Inc., Class A * | 148,677 | 3,803,158 |
Smartsheet, Inc., Class A * | 37,705 | 1,879,594 |
Smith Micro Software, Inc. * | 14,006 | 57,705 |
Snowflake, Inc., Class A * | 9,712 | 2,428,194 |
SolarWinds Corp. * | 23,132 | 472,587 |
Splunk, Inc. * | 55,535 | 10,998,151 |
Sprout Social, Inc., Class A * | 10,069 | 440,015 |
SPS Commerce, Inc. * | 12,304 | 1,053,099 |
Square, Inc., Class A * | 128,971 | 19,975,028 |
SS&C Technologies Holdings, Inc. | 78,875 | 4,670,977 |
StarTek, Inc. * | 5,834 | 30,629 |
Steel Connect, Inc. * | 18,290 | 10,608 |
SVMK, Inc. * | 38,312 | 801,870 |
Switch, Inc., Class A | 26,329 | 370,186 |
Sykes Enterprises, Inc. * | 12,854 | 440,121 |
Synchronoss Technologies, Inc. * | 15,860 | 43,932 |
Synopsys, Inc. * | 53,021 | 11,339,071 |
Telenav, Inc. * | 9,800 | 39,886 |
Tenable Holdings, Inc. * | 22,957 | 783,063 |
Teradata Corp. * | 39,683 | 728,977 |
The Hackett Group, Inc. | 8,738 | 112,895 |
The Trade Desk, Inc., Class A * | 14,464 | 8,193,133 |
The Western Union Co. | 143,188 | 2,783,575 |
TTEC Holdings, Inc. | 6,911 | 378,585 |
Tucows, Inc., Class A * | 3,300 | 243,507 |
Twilio, Inc., Class A * | 47,774 | 13,327,513 |
Tyler Technologies, Inc. * | 13,995 | 5,379,398 |
Unisys Corp. * | 19,913 | 261,657 |
Upland Software, Inc. * | 8,897 | 371,183 |
Varonis Systems, Inc. * | 11,243 | 1,299,354 |
Verint Systems, Inc. * | 22,920 | 1,112,078 |
VeriSign, Inc. * | 35,344 | 6,740,101 |
Veritone, Inc. *(a) | 8,997 | 84,392 |
Verra Mobility Corp. * | 44,543 | 428,058 |
Vertex, Inc., Class A * | 6,819 | 165,293 |
VirnetX Holding Corp. | 26,091 | 144,544 |
Virtusa Corp. * | 10,220 | 514,066 |
Visa, Inc., Class A | 585,552 | 106,400,654 |
VMware, Inc., Class A * | 27,917 | 3,593,755 |
WEX, Inc. * | 15,531 | 1,965,448 |
Workday, Inc., Class A * | 60,139 | 12,636,407 |
Workiva, Inc. * | 13,800 | 763,278 |
Xperi Holding Corp. | 41,045 | 508,958 |
Yext, Inc. * | 32,885 | 545,233 |
Zendesk, Inc. * | 40,560 | 4,499,726 |
Zix Corp. * | 17,000 | 104,210 |
Zoom Video Communications, Inc., Class A * | 63,194 | 29,126,747 |
Zscaler, Inc. * | 24,667 | 3,348,545 |
Zuora, Inc., Class A * | 34,383 | 330,764 |
1,680,978,058 | ||
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 7.1% | ||
3D Systems Corp. * | 40,383 | 229,779 |
Acacia Communications, Inc. * | 12,676 | 858,672 |
ADTRAN, Inc. | 15,268 | 163,215 |
Airgain, Inc. * | 3,401 | 47,002 |
Akoustis Technologies, Inc. *(a) | 7,703 | 63,858 |
Amphenol Corp., Class A | 103,568 | 11,686,613 |
Apple Inc. | 5,582,864 | 607,750,575 |
Applied Optoelectronics, Inc. * | 6,000 | 52,680 |
Arista Networks, Inc. * | 19,088 | 3,987,483 |
Arlo Technologies, Inc. * | 21,716 | 96,853 |
Arrow Electronics, Inc. * | 26,927 | 2,097,344 |
AstroNova, Inc. | 1,900 | 15,010 |
Avid Technology, Inc. * | 9,400 | 87,608 |
Avnet, Inc. | 34,694 | 855,901 |
Badger Meter, Inc. | 10,799 | 791,999 |
Bel Fuse, Inc., Class B | 3,500 | 40,985 |
Belden, Inc. | 15,659 | 483,550 |
Benchmark Electronics, Inc. | 13,708 | 285,538 |
CalAmp Corp. * | 9,892 | 70,035 |
Calix, Inc. * | 17,324 | 405,555 |
Casa Systems, Inc. * | 8,800 | 36,696 |
CDW Corp. | 49,543 | 6,073,972 |
Ciena Corp. * | 54,641 | 2,152,309 |
Cisco Systems, Inc. | 1,470,037 | 52,774,328 |
Clearfield, Inc. * | 3,291 | 68,881 |
Cognex Corp. | 60,148 | 3,963,753 |
Coherent, Inc. * | 8,677 | 1,085,840 |
CommScope Holding Co., Inc. * | 72,294 | 643,417 |
Comtech Telecommunications Corp. | 8,949 | 128,866 |
Corning, Inc. | 265,086 | 8,474,799 |
CTS Corp. | 12,607 | 348,457 |
Daktronics, Inc. | 14,170 | 55,263 |
Dell Technologies, Inc., Class C * | 80,560 | 4,854,546 |
Diebold Nixdorf, Inc. * | 28,307 | 176,353 |
Digi International, Inc. * | 9,100 | 134,043 |
Digital Ally, Inc. *(a) | 12,381 | 28,352 |
Dolby Laboratories, Inc., Class A | 22,717 | 1,705,592 |
DZS, Inc. * | 4,470 | 50,913 |
Eastman Kodak Co. *(a) | 24,148 | 167,104 |
EchoStar Corp., Class A * | 16,656 | 385,753 |
EMCORE Corp. * | 11,147 | 36,339 |
ePlus, Inc. * | 4,526 | 305,550 |
Extreme Networks, Inc. * | 46,911 | 190,459 |
F5 Networks, Inc. * | 21,433 | 2,849,303 |
Fabrinet * | 12,888 | 773,538 |
FARO Technologies, Inc. * | 6,085 | 366,560 |
Fitbit, Inc., Class A * | 84,474 | 594,697 |
FLIR Systems, Inc. | 45,686 | 1,584,847 |
Genasys, Inc. * | 16,638 | 100,161 |
Harmonic, Inc. * | 31,519 | 187,223 |
Hewlett Packard Enterprise Co. | 445,617 | 3,850,131 |
HP, Inc. | 478,435 | 8,592,693 |
Identiv, Inc. * | 8,288 | 54,121 |
II-VI, Inc. * | 35,989 | 1,636,420 |
Immersion Corp. * | 10,166 | 62,623 |
Infinera Corp. * | 59,301 | 371,224 |
Inseego Corp. *(a) | 22,287 | 193,897 |
Insight Enterprises, Inc. * | 11,782 | 628,570 |
Intellicheck, Inc. * | 7,899 | 57,189 |
InterDigital, Inc. | 11,287 | 631,846 |
Intevac, Inc. * | 6,954 | 36,717 |
IPG Photonics Corp. * | 12,431 | 2,311,669 |
Iteris, Inc. * | 21,620 | 81,507 |
Itron, Inc. * | 13,296 | 903,463 |
Jabil, Inc. | 48,471 | 1,606,329 |
Juniper Networks, Inc. | 115,864 | 2,284,838 |
Security | Number of Shares | Value ($) |
Keysight Technologies, Inc. * | 65,607 | 6,880,206 |
Kimball Electronics, Inc. * | 7,133 | 86,452 |
Knowles Corp. * | 30,607 | 436,150 |
KVH Industries, Inc. * | 5,000 | 43,450 |
Littelfuse, Inc. | 8,379 | 1,658,539 |
Lumentum Holdings, Inc. * | 26,740 | 2,211,131 |
Luna Innovations, Inc. * | 11,699 | 73,821 |
Methode Electronics, Inc. | 13,419 | 412,903 |
MicroVision, Inc. * | 37,436 | 64,764 |
Motorola Solutions, Inc. | 59,089 | 9,339,607 |
MTS Systems Corp. | 5,904 | 143,349 |
Napco Security Technologies, Inc. * | 3,300 | 79,596 |
National Instruments Corp. | 44,030 | 1,377,258 |
NCR Corp. * | 45,182 | 918,098 |
NetApp, Inc. | 77,710 | 3,410,692 |
NETGEAR, Inc. * | 9,709 | 299,231 |
NetScout Systems, Inc. * | 24,964 | 512,261 |
nLight, Inc. * | 12,303 | 261,316 |
Novanta, Inc. * | 12,175 | 1,323,666 |
OSI Systems, Inc. * | 5,852 | 451,540 |
PAR Technology Corp. * | 4,776 | 176,569 |
PC Connection, Inc. | 4,382 | 199,600 |
PCTEL, Inc. * | 9,339 | 47,629 |
Plantronics, Inc. | 11,458 | 223,660 |
Plexus Corp. * | 10,389 | 722,451 |
Powerfleet, Inc. * | 7,153 | 43,276 |
Pure Storage, Inc., Class A * | 81,055 | 1,304,986 |
Quantum Corp. * | 18,711 | 78,212 |
Research Frontiers, Inc. *(a) | 14,470 | 37,477 |
Resonant, Inc. *(a) | 24,990 | 57,227 |
Ribbon Communications, Inc. * | 38,283 | 165,000 |
Richardson Electronics Ltd. | 6,205 | 26,185 |
Rogers Corp. * | 6,788 | 822,841 |
Sanmina Corp. * | 24,436 | 597,216 |
ScanSource, Inc. * | 9,015 | 181,202 |
Seagate Technology plc | 77,621 | 3,711,836 |
Super Micro Computer, Inc. * | 16,946 | 385,013 |
SYNNEX Corp. | 14,547 | 1,914,967 |
TE Connectivity Ltd. | 114,789 | 11,120,758 |
TESSCO Technologies, Inc. | 1,269 | 7,741 |
Trimble, Inc. * | 87,429 | 4,207,958 |
TTM Technologies, Inc. * | 37,069 | 440,009 |
Ubiquiti, Inc. | 2,598 | 482,215 |
ViaSat, Inc. * | 21,098 | 715,222 |
Viavi Solutions, Inc. * | 80,514 | 994,348 |
Vishay Intertechnology, Inc. | 49,432 | 801,787 |
Vishay Precision Group, Inc. * | 4,093 | 97,782 |
Vontier Corp. * | 46,518 | 1,336,927 |
Western Digital Corp. | 105,134 | 3,966,706 |
Wrap Technologies, Inc. *(a) | 10,465 | 54,104 |
Xerox Holdings Corp. | 62,811 | 1,091,655 |
Zebra Technologies Corp., Class A * | 18,789 | 5,329,312 |
814,997,307 | ||
Telecommunication Services 1.6% | ||
Alaska Communications Systems Group, Inc. | 26,271 | 50,178 |
Anterix, Inc. * | 3,968 | 126,659 |
AT&T, Inc. | 2,474,722 | 66,866,988 |
ATN International, Inc. | 3,752 | 167,714 |
Bandwidth, Inc., Class A * | 6,777 | 1,086,726 |
Boingo Wireless, Inc. * | 16,693 | 155,913 |
CenturyLink, Inc. | 345,006 | 2,973,952 |
Cincinnati Bell, Inc. * | 18,761 | 282,353 |
Cogent Communications Holdings, Inc. | 14,646 | 817,247 |
Consolidated Communications Holdings, Inc. * | 22,575 | 105,425 |
Security | Number of Shares | Value ($) |
GCI Liberty, Inc., Class A * | 34,779 | 2,825,098 |
Globalstar, Inc. * | 173,777 | 52,133 |
Gogo, Inc. * | 16,000 | 128,640 |
IDT Corp., Class B * | 6,600 | 62,898 |
Iridium Communications, Inc. * | 38,418 | 1,014,619 |
Liberty Global plc, Class A * | 49,647 | 942,300 |
Liberty Global plc, Class C * | 128,578 | 2,399,266 |
Liberty Latin America Ltd., Class A * | 16,480 | 161,504 |
Liberty Latin America Ltd., Class C * | 53,326 | 518,329 |
Ooma, Inc. * | 5,385 | 75,982 |
ORBCOMM, Inc. * | 28,696 | 123,393 |
Shenandoah Telecommunications Co. | 16,585 | 723,438 |
Spok Holdings, Inc. | 5,240 | 47,579 |
T-Mobile US, Inc. * | 202,082 | 22,142,125 |
Telephone & Data Systems, Inc. | 35,953 | 611,201 |
United States Cellular Corp. * | 5,400 | 157,248 |
Verizon Communications, Inc. | 1,437,058 | 81,897,935 |
Vonage Holdings Corp. * | 83,866 | 887,302 |
187,404,145 | ||
Transportation 2.0% | ||
Air Transport Services Group, Inc. * | 21,611 | 605,972 |
Alaska Air Group, Inc. | 43,135 | 1,634,385 |
Allegiant Travel Co. | 4,527 | 610,059 |
AMERCO | 3,100 | 1,076,196 |
American Airlines Group, Inc. (a) | 175,546 | 1,980,159 |
ArcBest Corp. | 9,560 | 291,771 |
Atlas Air Worldwide Holdings, Inc. * | 8,875 | 525,045 |
Avis Budget Group, Inc. * | 18,622 | 627,003 |
C.H. Robinson Worldwide, Inc. | 46,524 | 4,114,117 |
Covenant Logistics Group, Inc. * | 3,000 | 41,310 |
CSX Corp. | 266,218 | 21,015,249 |
Daseke, Inc. * | 20,197 | 132,694 |
Delta Air Lines, Inc. | 220,542 | 6,757,407 |
Eagle Bulk Shipping, Inc. * | 3,028 | 41,665 |
Echo Global Logistics, Inc. * | 10,195 | 274,959 |
Expeditors International of Washington, Inc. | 58,117 | 5,135,799 |
FedEx Corp. | 83,766 | 21,734,764 |
Forward Air Corp. | 9,608 | 605,016 |
Genco Shipping & Trading Ltd. | 3,574 | 23,088 |
Hawaiian Holdings, Inc. | 15,015 | 207,958 |
Heartland Express, Inc. | 18,164 | 332,583 |
Hub Group, Inc., Class A * | 11,693 | 586,170 |
JB Hunt Transport Services, Inc. | 29,226 | 3,557,973 |
JetBlue Airways Corp. * | 95,322 | 1,141,004 |
Kansas City Southern | 32,904 | 5,795,711 |
Kirby Corp. * | 21,385 | 823,109 |
Knight-Swift Transportation Holdings, Inc. | 42,675 | 1,621,223 |
Landstar System, Inc. | 13,558 | 1,690,683 |
Lyft, Inc., Class A * | 82,371 | 1,880,530 |
Macquarie Infrastructure Corp. | 27,962 | 721,420 |
Marten Transport Ltd. | 22,339 | 342,792 |
Matson, Inc. | 14,354 | 745,690 |
Mesa Air Group, Inc. * | 13,374 | 42,262 |
Norfolk Southern Corp. | 88,900 | 18,590,768 |
Old Dominion Freight Line, Inc. | 33,304 | 6,340,082 |
P.A.M. Transportation Services, Inc. * | 907 | 35,917 |
Radiant Logistics, Inc. * | 10,983 | 56,453 |
Ryder System, Inc. | 18,502 | 911,408 |
Saia, Inc. * | 9,047 | 1,335,880 |
Schneider National, Inc., Class B | 12,428 | 274,162 |
SkyWest, Inc. | 18,448 | 535,545 |
Southwest Airlines Co. | 204,847 | 8,097,602 |
Spirit Airlines, Inc. * | 30,920 | 543,264 |
Uber Technologies, Inc. * | 479,209 | 16,010,373 |
Security | Number of Shares | Value ($) |
Union Pacific Corp. | 235,632 | 41,751,634 |
United Airlines Holdings, Inc. * | 99,440 | 3,367,038 |
United Parcel Service, Inc., Class B | 245,160 | 38,517,088 |
Universal Logistics Holdings, Inc. | 3,300 | 65,109 |
US Xpress Enterprises, Inc., Class A * | 8,327 | 60,038 |
Werner Enterprises, Inc. | 20,186 | 767,472 |
XPO Logistics, Inc. * | 32,204 | 2,898,360 |
YRC Worldwide, Inc. * | 25,364 | 99,427 |
226,973,386 | ||
Utilities 3.0% | ||
ALLETE, Inc. | 18,239 | 940,768 |
Alliant Energy Corp. | 87,211 | 4,821,024 |
Ameren Corp. | 85,966 | 6,973,562 |
American Electric Power Co., Inc. | 171,553 | 15,427,761 |
American States Water Co. | 13,159 | 982,846 |
American Water Works Co., Inc. | 62,511 | 9,408,531 |
Artesian Resources Corp., Class A | 3,837 | 135,177 |
Atmos Energy Corp. | 42,876 | 3,930,443 |
Avangrid, Inc. | 19,861 | 979,942 |
Avista Corp. | 24,293 | 807,013 |
Black Hills Corp. | 22,377 | 1,267,881 |
Cadiz, Inc. *(a) | 12,851 | 122,727 |
California Water Service Group | 17,255 | 769,055 |
CenterPoint Energy, Inc. | 189,464 | 4,003,374 |
Chesapeake Utilities Corp. | 6,235 | 606,104 |
Clearway Energy, Inc., Class A | 11,000 | 288,310 |
Clearway Energy, Inc., Class C | 26,436 | 744,438 |
CMS Energy Corp. | 99,705 | 6,314,318 |
Consolidated Edison, Inc. | 115,481 | 9,064,104 |
Dominion Energy, Inc. | 290,999 | 23,378,860 |
DTE Energy Co. | 66,791 | 8,243,345 |
Duke Energy Corp. | 254,671 | 23,457,746 |
Edison International | 131,470 | 7,367,579 |
Entergy Corp. | 70,052 | 7,090,663 |
Essential Utilities, Inc. | 77,297 | 3,184,636 |
Evergy, Inc. | 79,062 | 4,364,222 |
Eversource Energy | 119,099 | 10,393,770 |
Exelon Corp. | 336,962 | 13,441,414 |
FirstEnergy Corp. | 188,293 | 5,596,068 |
Genie Energy Ltd., Class B | 5,585 | 46,300 |
Global Water Resources, Inc. | 4,694 | 49,756 |
Hawaiian Electric Industries, Inc. | 38,969 | 1,287,536 |
IDACORP, Inc. | 17,823 | 1,563,612 |
MDU Resources Group, Inc. | 69,771 | 1,657,759 |
MGE Energy, Inc. | 13,140 | 854,363 |
Middlesex Water Co. | 6,534 | 419,091 |
National Fuel Gas Co. | 31,306 | 1,250,988 |
New Jersey Resources Corp. | 33,082 | 965,333 |
NextEra Energy, Inc. | 679,260 | 49,728,625 |
NiSource, Inc. | 130,992 | 3,008,886 |
Northwest Natural Holding Co. | 11,700 | 519,948 |
NorthWestern Corp. | 17,760 | 925,829 |
NRG Energy, Inc. | 84,216 | 2,662,910 |
OGE Energy Corp. | 68,838 | 2,118,145 |
ONE Gas, Inc. | 18,590 | 1,283,454 |
Ormat Technologies, Inc. | 15,013 | 1,063,971 |
Otter Tail Corp. | 15,277 | 585,873 |
PG&E Corp. * | 500,000 | 4,780,000 |
Pinnacle West Capital Corp. | 38,796 | 3,164,590 |
PNM Resources, Inc. | 27,818 | 1,390,900 |
Portland General Electric Co. | 30,909 | 1,214,724 |
PPL Corp. | 265,809 | 7,309,747 |
Public Service Enterprise Group, Inc. | 175,043 | 10,178,750 |
Pure Cycle Corp. * | 8,000 | 70,400 |
RGC Resources, Inc. | 2,000 | 47,600 |
Sempra Energy | 100,085 | 12,546,656 |
Security | Number of Shares | Value ($) |
SJW Group. | 8,905 | 540,444 |
South Jersey Industries, Inc. | 32,586 | 627,932 |
Southwest Gas Holdings, Inc. | 19,658 | 1,291,924 |
Spark Energy, Inc., Class A | 5,059 | 46,138 |
Spire, Inc. | 18,247 | 1,022,562 |
Sunnova Energy International, Inc. * | 15,289 | 367,853 |
The AES Corp. | 234,436 | 4,571,502 |
The Southern Co. | 365,609 | 21,004,237 |
The York Water Co. | 4,611 | 194,815 |
UGI Corp. | 73,193 | 2,367,062 |
Unitil Corp. | 6,105 | 210,928 |
Vistra Corp. | 166,604 | 2,893,911 |
WEC Energy Group, Inc. | 108,928 | 10,952,710 |
Xcel Energy, Inc. | 181,578 | 12,715,907 |
343,609,352 | ||
Total Common Stock | ||
(Cost $6,454,404,116) | 11,408,103,810 | |
Rights 0.0% of net assets | ||
Capital Goods 0.0% | ||
HC2 Holdings, Inc. expires 11/20/20 *(b) | 22,677 | — |
Media & Entertainment 0.0% | ||
Media General, Inc. CVR *(b) | 18,400 | 1,566 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Adicet Bio, Inc. *(b) | 780 | — |
Aduro Biotech, Inc. CVR *(b) | 5,747 | 17,241 |
Elanco Animal Health, Inc. CVR *(b) | 16,000 | 96 |
17,337 | ||
Total Rights | ||
(Cost $1,204) | 18,903 | |
Warrants 0.0% of net assets | ||
Energy 0.0% | ||
Pulse Biosciences, Inc. expires 05/14/25 *(b) | 116 | 1,219 |
Total Warrants | ||
(Cost $—) | 1,219 | |
Other Investment Company 0.1% of net assets | ||
Securities Lending Collateral 0.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (d) | 18,771,910 | 18,771,910 |
Total Other Investment Company | ||
(Cost $18,771,910) | 18,771,910 |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.5% of net assets | ||
Time Deposit 0.5% | ||
Skandinaviska Enskilda Banken | ||
0.01%, 11/02/20 (e) | 53,766,597 | 53,766,597 |
Total Short-Term Investment | ||
(Cost $53,766,597) | 53,766,597 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Appreciation (Depreciation) ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 2000 Index, e-mini, expires 12/18/20 | 150 | 11,526,000 | 105,271 | |
S&P 500 Index, e-mini, expires 12/18/20 | 404 | 65,946,940 | (1,624,776) | |
Net Unrealized Depreciation | (1,519,505) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $17,807,791. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | Issuer is affiliated with the fund’s investment adviser. |
(d) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 99.6% of net assets | ||
Automobiles & Components 1.8% | ||
BorgWarner, Inc. | 906 | 31,692 |
Tesla, Inc. * | 22,490 | 8,727,019 |
8,758,711 | ||
Banks 0.0% | ||
Rocket Cos., Inc., Class A * | 1,132 | 20,636 |
Capital Goods 2.3% | ||
3M Co. | 11,287 | 1,805,468 |
Allegion plc | 1,827 | 179,959 |
Allison Transmission Holdings, Inc. | 2,164 | 78,229 |
Armstrong World Industries, Inc. | 523 | 31,328 |
Axon Enterprise, Inc. * | 1,902 | 188,108 |
BWX Technologies, Inc. | 1,831 | 100,723 |
Carrier Global Corp. | 9,432 | 314,934 |
Donaldson Co., Inc. | 423 | 20,092 |
Fastenal Co. | 14,134 | 611,013 |
Generac Holdings, Inc. * | 1,695 | 356,204 |
Graco, Inc. | 2,481 | 153,574 |
HEICO Corp. | 1,074 | 112,824 |
HEICO Corp., Class A | 1,899 | 177,556 |
Huntington Ingalls Industries, Inc. | 102 | 15,043 |
Illinois Tool Works, Inc. | 4,245 | 831,511 |
Lincoln Electric Holdings, Inc. | 732 | 74,532 |
Lockheed Martin Corp. | 7,529 | 2,636,129 |
Mercury Systems, Inc. * | 1,337 | 92,092 |
Nordson Corp. | 1,416 | 273,897 |
Northrop Grumman Corp. | 4,369 | 1,266,224 |
Quanta Services, Inc. | 865 | 54,002 |
Rockwell Automation, Inc. | 1,708 | 405,001 |
Roper Technologies, Inc. | 432 | 160,419 |
The AZEK Co., Inc. * | 179 | 5,986 |
The Toro Co. | 2,930 | 240,553 |
TransDigm Group, Inc. | 356 | 169,958 |
Trex Co., Inc. * | 3,515 | 244,433 |
Vertiv Holdings Co. * | 6,712 | 118,467 |
Virgin Galactic Holdings, Inc. * | 1,699 | 29,597 |
W.W. Grainger, Inc. | 994 | 347,920 |
11,095,776 | ||
Commercial & Professional Services 1.0% | ||
Cintas Corp. | 2,377 | 747,685 |
Copart, Inc. * | 6,172 | 681,142 |
CoreLogic, Inc. | 99 | 7,616 |
CoStar Group, Inc. * | 1,185 | 975,978 |
Dun & Bradstreet Holdings, Inc. * | 1,246 | 32,197 |
Equifax, Inc. | 2,715 | 370,869 |
IAA, Inc. * | 938 | 53,081 |
IHS Markit Ltd. | 6,577 | 531,882 |
MSA Safety, Inc. | 248 | 32,716 |
Rollins, Inc. | 3,950 | 228,508 |
TransUnion | 5,266 | 419,490 |
Security | Number of Shares | Value ($) |
Verisk Analytics, Inc. | 4,817 | 857,281 |
Waste Management, Inc. | 1,654 | 178,483 |
5,116,928 | ||
Consumer Durables & Apparel 1.2% | ||
Lululemon Athletica, Inc. * | 3,452 | 1,102,189 |
Mattel, Inc. * | 6,234 | 85,842 |
NIKE, Inc., Class B | 36,845 | 4,424,348 |
NVR, Inc. * | 10 | 39,531 |
Peloton Interactive, Inc., Class A * | 728 | 80,233 |
Polaris, Inc. | 187 | 16,991 |
Tempur Sealy International, Inc. * | 1,071 | 95,319 |
VF Corp. | 566 | 38,035 |
5,882,488 | ||
Consumer Services 1.1% | ||
Bright Horizons Family Solutions, Inc. * | 1,268 | 200,407 |
Chegg, Inc. * | 3,662 | 268,937 |
Chipotle Mexican Grill, Inc. * | 847 | 1,017,654 |
Domino's Pizza, Inc. | 1,183 | 447,553 |
Dunkin' Brands Group, Inc. | 2,123 | 211,684 |
frontdoor, Inc. * | 391 | 15,491 |
H&R Block, Inc. | 4,119 | 71,094 |
Las Vegas Sands Corp. | 4,270 | 205,216 |
McDonald's Corp. | 3,240 | 690,120 |
Planet Fitness, Inc., Class A * | 1,352 | 80,133 |
Starbucks Corp. | 20,521 | 1,784,506 |
The Wendy's Co. | 5,475 | 119,629 |
Vail Resorts, Inc. | 98 | 22,740 |
Wynn Resorts Ltd. | 744 | 53,888 |
Yum China Holdings, Inc. | 812 | 43,223 |
Yum! Brands, Inc. | 688 | 64,211 |
5,296,486 | ||
Diversified Financials 1.2% | ||
Apollo Global Management, Inc. | 2,585 | 95,283 |
Ares Management Corp., Class A | 3,003 | 127,027 |
Cboe Global Markets, Inc. | 715 | 58,122 |
Credit Acceptance Corp. * | 18 | 5,366 |
FactSet Research Systems, Inc. | 1,123 | 344,200 |
Intercontinental Exchange, Inc. | 5,791 | 546,670 |
LendingTree, Inc. * | 225 | 72,808 |
LPL Financial Holdings, Inc. | 169 | 13,508 |
MarketAxess Holdings, Inc. | 1,117 | 601,896 |
Moody's Corp. | 4,941 | 1,298,989 |
Morningstar, Inc. | 556 | 105,851 |
MSCI, Inc. | 2,476 | 866,204 |
S&P Global, Inc. | 4,323 | 1,395,162 |
SLM Corp. | 2,768 | 25,438 |
T. Rowe Price Group, Inc. | 1,739 | 220,262 |
The Carlyle Group, Inc. | 301 | 7,501 |
Tradeweb Markets, Inc., Class A | 2,136 | 116,369 |
Virtu Financial, Inc., Class A | 1,643 | 35,127 |
5,935,783 | ||
Security | Number of Shares | Value ($) |
Energy 0.1% | ||
Cheniere Energy, Inc. * | 7,046 | 337,292 |
Equitrans Midstream Corp. | 994 | 7,216 |
344,508 | ||
Food & Staples Retailing 1.0% | ||
Albertsons Cos., Inc., Class A * | 466 | 6,846 |
Costco Wholesale Corp. | 11,850 | 4,237,797 |
Grocery Outlet Holding Corp. * | 1,168 | 51,415 |
Sprouts Farmers Market, Inc. * | 2,978 | 56,731 |
Sysco Corp. | 10,503 | 580,921 |
4,933,710 | ||
Food, Beverage & Tobacco 2.3% | ||
Altria Group, Inc. | 24,681 | 890,491 |
Beyond Meat, Inc. * | 1,238 | 176,328 |
Brown-Forman Corp., Class A | 1,160 | 72,790 |
Brown-Forman Corp., Class B | 4,695 | 327,289 |
Campbell Soup Co. | 2,639 | 123,162 |
Kellogg Co. | 2,607 | 163,954 |
Lamb Weston Holdings, Inc. | 1,026 | 65,100 |
McCormick & Co., Inc. - Non Voting Shares | 2,100 | 379,071 |
Monster Beverage Corp. * | 11,213 | 858,579 |
PepsiCo, Inc. | 30,982 | 4,129,591 |
Pilgrim's Pride Corp. * | 449 | 7,516 |
The Boston Beer Co., Inc., Class A * | 270 | 280,579 |
The Coca-Cola Co. | 69,032 | 3,317,678 |
The Hershey Co. | 3,455 | 474,924 |
11,267,052 | ||
Health Care Equipment & Services 6.0% | ||
Abbott Laboratories | 20,191 | 2,122,276 |
ABIOMED, Inc. * | 1,345 | 338,779 |
Align Technology, Inc. * | 2,371 | 1,010,236 |
Amedisys, Inc. * | 963 | 249,417 |
AmerisourceBergen Corp. | 2,136 | 205,206 |
Anthem, Inc. | 1,977 | 539,326 |
Baxter International, Inc. | 6,486 | 503,119 |
Cardinal Health, Inc. | 8,845 | 405,013 |
Centene Corp. * | 5,126 | 302,947 |
Cerner Corp. | 9,246 | 648,052 |
Change Healthcare, Inc. * | 5,383 | 76,169 |
Chemed Corp. | 471 | 225,289 |
Cigna Corp. | 2,981 | 497,738 |
DaVita, Inc. * | 416 | 35,880 |
DexCom, Inc. * | 2,795 | 893,226 |
Edwards Lifesciences Corp. * | 18,752 | 1,344,331 |
Encompass Health Corp. | 1,314 | 80,561 |
Guardant Health, Inc. * | 2,490 | 265,583 |
Haemonetics Corp. * | 1,411 | 142,638 |
HCA Healthcare, Inc. | 4,208 | 521,539 |
Hill-Rom Holdings, Inc. | 253 | 23,041 |
Hologic, Inc. * | 5,421 | 373,073 |
Humana, Inc. | 1,534 | 612,495 |
ICU Medical, Inc. * | 162 | 28,802 |
IDEXX Laboratories, Inc. * | 2,554 | 1,084,990 |
Insulet Corp. * | 1,992 | 442,722 |
Intuitive Surgical, Inc. * | 3,521 | 2,348,789 |
Laboratory Corp. of America Holdings * | 160 | 31,963 |
Livongo Health, Inc. *(a) | 1,677 | 202,153 |
Masimo Corp. * | 1,483 | 331,925 |
McKesson Corp. | 3,644 | 537,454 |
Molina Healthcare, Inc. * | 1,198 | 223,391 |
Novocure Ltd. * | 3,023 | 369,108 |
Security | Number of Shares | Value ($) |
Oak Street Health, Inc. * | 262 | 12,469 |
Penumbra, Inc. * | 1,002 | 261,552 |
Quidel Corp. * | 1,129 | 302,899 |
ResMed, Inc. | 4,353 | 835,515 |
STERIS plc | 134 | 23,743 |
Stryker Corp. | 3,437 | 694,308 |
Tandem Diabetes Care, Inc. * | 1,593 | 173,637 |
Teladoc Health, Inc. * | 1,957 | 384,472 |
Teleflex, Inc. | 888 | 282,588 |
The Cooper Cos., Inc. | 175 | 55,834 |
UnitedHealth Group, Inc. | 23,893 | 7,290,710 |
Varian Medical Systems, Inc. * | 335 | 57,888 |
Veeva Systems, Inc., Class A * | 4,059 | 1,096,133 |
West Pharmaceutical Services, Inc. | 2,231 | 606,988 |
29,095,967 | ||
Household & Personal Products 1.5% | ||
Church & Dwight Co., Inc. | 7,466 | 659,920 |
Energizer Holdings, Inc. | 1,477 | 58,120 |
Herbalife Nutrition Ltd. * | 384 | 17,334 |
Reynolds Consumer Products, Inc. | 363 | 10,251 |
The Clorox Co. | 2,722 | 564,134 |
The Estee Lauder Cos., Inc., Class A | 6,022 | 1,322,793 |
The Procter & Gamble Co. | 33,124 | 4,541,300 |
7,173,852 | ||
Insurance 0.7% | ||
Alleghany Corp. | 40 | 21,877 |
Aon plc, Class A | 6,974 | 1,283,286 |
Axis Capital Holdings Ltd. | 259 | 11,057 |
Brown & Brown, Inc. | 368 | 16,012 |
Erie Indemnity Co., Class A | 435 | 101,298 |
GoHealth, Inc., Class A * | 115 | 1,191 |
Lincoln National Corp. | 729 | 25,588 |
Marsh & McLennan Cos., Inc. | 11,958 | 1,237,175 |
Primerica, Inc. | 727 | 80,144 |
RenaissanceRe Holdings Ltd. | 514 | 83,124 |
The Progressive Corp. | 5,123 | 470,804 |
3,331,556 | ||
Materials 0.9% | ||
Air Products & Chemicals, Inc. | 861 | 237,843 |
Amcor plc | 7,133 | 74,397 |
Avery Dennison Corp. | 1,043 | 144,341 |
Ball Corp. | 9,066 | 806,874 |
Berry Global Group, Inc. * | 1,374 | 64,070 |
Crown Holdings, Inc. * | 403 | 34,577 |
Ecolab, Inc. | 1,503 | 275,936 |
FMC Corp. | 759 | 77,980 |
Graphic Packaging Holding Co. | 1,876 | 24,932 |
NewMarket Corp. | 173 | 61,880 |
Royal Gold, Inc. | 1,432 | 170,136 |
RPM International, Inc. | 3,229 | 273,399 |
The Scotts Miracle-Gro Co. | 1,163 | 174,508 |
The Sherwin-Williams Co. | 2,505 | 1,723,390 |
W.R. Grace & Co. | 598 | 26,007 |
4,170,270 | ||
Media & Entertainment 11.6% | ||
Activision Blizzard, Inc. | 9,175 | 694,823 |
Alphabet, Inc., Class A * | 7,084 | 11,448,523 |
Alphabet, Inc., Class C * | 6,992 | 11,334,102 |
Altice USA, Inc., Class A * | 9,258 | 249,503 |
Cable One, Inc. | 163 | 282,293 |
Security | Number of Shares | Value ($) |
Charter Communications, Inc., Class A * | 4,108 | 2,480,493 |
Electronic Arts, Inc. * | 1,206 | 144,515 |
Facebook, Inc., Class A * | 73,039 | 19,217,291 |
IAC/InterActiveCorp * | 2,280 | 275,242 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 330 | 11,408 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 564 | 19,514 |
Live Nation Entertainment, Inc. * | 4,321 | 210,865 |
Match Group, Inc. * | 6,649 | 776,470 |
Netflix, Inc. * | 12,937 | 6,154,648 |
Nexstar Media Group, Inc., Class A | 871 | 71,770 |
Pinterest, Inc., Class A * | 10,141 | 597,812 |
Roku, Inc. * | 3,217 | 651,121 |
Sirius XM Holdings, Inc. | 21,677 | 124,209 |
Spotify Technology S.A. * | 3,977 | 954,043 |
Take-Two Interactive Software, Inc. * | 3,159 | 489,392 |
World Wrestling Entertainment, Inc., Class A | 1,402 | 50,977 |
Zillow Group, Inc., Class A * | 178 | 15,901 |
Zillow Group, Inc., Class C * | 472 | 41,829 |
Zynga, Inc., Class A * | 22,007 | 197,843 |
56,494,587 | ||
Pharmaceuticals, Biotechnology & Life Sciences 7.8% | ||
10X Genomics, Inc., Class A * | 1,741 | 238,343 |
AbbVie, Inc. | 50,380 | 4,287,338 |
ACADIA Pharmaceuticals, Inc. * | 3,331 | 154,725 |
Acceleron Pharma, Inc. * | 1,451 | 151,746 |
Adaptive Biotechnologies Corp. * | 2,313 | 106,583 |
Agilent Technologies, Inc. | 798 | 81,468 |
Agios Pharmaceuticals, Inc. * | 140 | 5,610 |
Alexion Pharmaceuticals, Inc. * | 981 | 112,952 |
Alnylam Pharmaceuticals, Inc. * | 3,499 | 430,272 |
Amgen, Inc. | 17,907 | 3,884,745 |
Avantor, Inc. * | 13,611 | 316,728 |
Berkeley Lights, Inc. * | 149 | 10,813 |
Bio-Techne Corp. | 1,089 | 274,875 |
Biogen, Inc. * | 1,448 | 364,997 |
BioMarin Pharmaceutical, Inc. * | 4,962 | 369,322 |
Bluebird Bio, Inc. * | 879 | 45,453 |
Bristol-Myers Squibb Co. | 25,005 | 1,461,542 |
Bruker Corp. | 1,352 | 57,514 |
Charles River Laboratories International, Inc. * | 1,317 | 299,881 |
Eli Lilly & Co. | 25,620 | 3,342,385 |
Exact Sciences Corp. * | 3,912 | 484,423 |
Exelixis, Inc. * | 3,274 | 67,052 |
Global Blood Therapeutics, Inc. * | 1,798 | 95,078 |
Horizon Therapeutics plc * | 5,498 | 411,965 |
Illumina, Inc. * | 4,462 | 1,306,027 |
Incyte Corp. * | 5,541 | 480,072 |
Ionis Pharmaceuticals, Inc. * | 1,975 | 92,726 |
Iovance Biotherapeutics, Inc. * | 4,166 | 148,643 |
IQVIA Holdings, Inc. * | 2,178 | 335,390 |
Johnson & Johnson | 10,743 | 1,472,973 |
Merck & Co., Inc. | 67,156 | 5,050,803 |
Mettler-Toledo International, Inc. * | 674 | 672,591 |
Moderna, Inc. * | 8,686 | 586,044 |
Neurocrine Biosciences, Inc. * | 2,803 | 276,572 |
PerkinElmer, Inc. | 667 | 86,410 |
PPD, Inc. * | 4,075 | 133,986 |
PRA Health Sciences, Inc. * | 1,623 | 158,145 |
Reata Pharmaceuticals, Inc., Class A * | 661 | 77,145 |
Regeneron Pharmaceuticals, Inc. * | 2,942 | 1,599,154 |
Repligen Corp. * | 1,584 | 263,847 |
Royalty Pharma plc, Class A | 1,315 | 48,261 |
Sage Therapeutics, Inc. * | 100 | 7,338 |
Security | Number of Shares | Value ($) |
Sarepta Therapeutics, Inc. * | 2,268 | 308,244 |
Seagen, Inc. * | 3,699 | 616,993 |
Syneos Health, Inc. * | 243 | 12,898 |
Thermo Fisher Scientific, Inc. | 7,051 | 3,335,969 |
Vertex Pharmaceuticals, Inc. * | 7,902 | 1,646,461 |
Waters Corp. * | 138 | 30,749 |
Zoetis, Inc. | 13,082 | 2,074,151 |
37,877,402 | ||
Real Estate 1.8% | ||
American Tower Corp. | 13,417 | 3,081,214 |
Americold Realty Trust | 612 | 22,173 |
Brookfield Property REIT, Inc., Class A (b) | 1,341 | 19,780 |
CoreSite Realty Corp. | 809 | 96,562 |
Crown Castle International Corp. | 11,791 | 1,841,754 |
Equinix, Inc. | 2,673 | 1,954,604 |
Equity LifeStyle Properties, Inc. | 2,151 | 127,318 |
Extra Space Storage, Inc. | 2,704 | 313,529 |
Iron Mountain, Inc. | 5,030 | 131,082 |
Public Storage | 2,991 | 685,148 |
SBA Communications Corp. | 450 | 130,666 |
Simon Property Group, Inc. | 7,286 | 457,634 |
8,861,464 | ||
Retailing 12.1% | ||
Amazon.com, Inc. * | 12,896 | 39,154,190 |
AutoZone, Inc. * | 420 | 474,172 |
Best Buy Co., Inc. | 1,254 | 139,884 |
Booking Holdings, Inc. * | 1,243 | 2,016,767 |
Burlington Stores, Inc. * | 1,771 | 342,830 |
CarMax, Inc. * | 362 | 31,291 |
Carvana Co. * | 1,653 | 306,383 |
Dollar General Corp. | 7,652 | 1,597,049 |
Dollar Tree, Inc. * | 3,387 | 305,914 |
eBay, Inc. | 18,559 | 883,965 |
Etsy, Inc. * | 3,587 | 436,143 |
Expedia Group, Inc. | 458 | 43,121 |
Five Below, Inc. * | 1,663 | 221,744 |
Floor & Decor Holdings, Inc., Class A * | 2,853 | 208,269 |
GrubHub, Inc. * | 278 | 20,561 |
Lowe's Cos., Inc. | 22,989 | 3,634,561 |
O'Reilly Automotive, Inc. * | 2,223 | 970,562 |
Ollie's Bargain Outlet Holdings, Inc. * | 1,467 | 127,761 |
Pool Corp. | 1,179 | 412,450 |
Ross Stores, Inc. | 8,593 | 731,866 |
The Home Depot, Inc. | 16,336 | 4,356,975 |
The TJX Cos., Inc. | 29,532 | 1,500,226 |
Tractor Supply Co. | 3,510 | 467,567 |
Ulta Beauty, Inc. * | 1,518 | 313,877 |
Vroom, Inc. * | 575 | 23,632 |
Wayfair, Inc., Class A * | 1,843 | 457,119 |
Williams-Sonoma, Inc. | 371 | 33,839 |
59,212,718 | ||
Semiconductors & Semiconductor Equipment 6.1% | ||
Advanced Micro Devices, Inc. * | 32,986 | 2,483,516 |
Analog Devices, Inc. | 1,343 | 159,186 |
Applied Materials, Inc. | 27,881 | 1,651,392 |
Broadcom, Inc. | 11,257 | 3,935,785 |
Enphase Energy, Inc. * | 3,222 | 316,046 |
Entegris, Inc. | 3,794 | 283,677 |
Inphi Corp. * | 1,439 | 201,115 |
KLA Corp. | 4,718 | 930,295 |
Lam Research Corp. | 4,411 | 1,508,915 |
Maxim Integrated Products, Inc. | 2,667 | 185,757 |
Security | Number of Shares | Value ($) |
Microchip Technology, Inc. | 5,529 | 580,987 |
MKS Instruments, Inc. | 1,230 | 133,320 |
Monolithic Power Systems, Inc. | 1,324 | 423,150 |
NVIDIA Corp. | 17,957 | 9,002,921 |
QUALCOMM, Inc. | 34,237 | 4,223,476 |
SolarEdge Technologies, Inc. * | 1,480 | 381,381 |
Teradyne, Inc. | 5,007 | 439,865 |
Texas Instruments, Inc. | 13,907 | 2,010,813 |
Universal Display Corp. | 1,302 | 258,200 |
Xilinx, Inc. | 7,424 | 881,155 |
29,990,952 | ||
Software & Services 26.2% | ||
2U, Inc. * | 681 | 25,095 |
Accenture plc, Class A | 19,387 | 4,205,234 |
Adobe, Inc. * | 14,634 | 6,542,861 |
Akamai Technologies, Inc. * | 4,015 | 381,907 |
Alteryx, Inc., Class A * | 1,604 | 201,061 |
Anaplan, Inc. * | 3,930 | 217,526 |
ANSYS, Inc. * | 2,604 | 792,579 |
Aspen Technology, Inc. * | 1,917 | 210,506 |
Atlassian Corp. plc, Class A * | 3,870 | 741,569 |
Autodesk, Inc. * | 4,442 | 1,046,269 |
Automatic Data Processing, Inc. | 11,244 | 1,776,102 |
Avalara, Inc. * | 2,507 | 373,668 |
BigCommerce Holdings, Inc. * | 213 | 15,634 |
Bill.com Holdings, Inc. * | 1,641 | 164,100 |
Black Knight, Inc. * | 4,608 | 405,274 |
Booz Allen Hamilton Holding Corp. | 4,123 | 323,655 |
Broadridge Financial Solutions, Inc. | 3,475 | 478,160 |
CACI International, Inc., Class A * | 122 | 25,441 |
Cadence Design Systems, Inc. * | 8,379 | 916,411 |
CDK Global, Inc. | 491 | 21,162 |
Ceridian HCM Holding, Inc. * | 2,304 | 198,651 |
Citrix Systems, Inc. | 1,030 | 116,668 |
Cloudflare, Inc., Class A * | 3,286 | 170,773 |
Cognizant Technology Solutions Corp., Class A | 1,154 | 82,419 |
Coupa Software, Inc. * | 2,019 | 540,486 |
Crowdstrike Holdings, Inc., Class A * | 3,347 | 414,492 |
Datadog, Inc., Class A * | 4,631 | 420,263 |
DocuSign, Inc. * | 5,417 | 1,095,588 |
Dropbox, Inc., Class A * | 7,416 | 135,416 |
Duck Creek Technologies, Inc. * | 342 | 14,833 |
Dynatrace, Inc. * | 5,550 | 195,971 |
Elastic N.V. * | 1,980 | 200,792 |
EPAM Systems, Inc. * | 1,609 | 497,101 |
Everbridge, Inc. * | 1,030 | 107,831 |
Fair Isaac Corp. * | 846 | 331,167 |
Fastly, Inc., Class A * | 2,402 | 152,551 |
FireEye, Inc. * | 1,576 | 21,812 |
Fiserv, Inc. * | 5,024 | 479,641 |
Five9, Inc. * | 1,868 | 283,413 |
FleetCor Technologies, Inc. * | 2,507 | 553,821 |
Fortinet, Inc. * | 4,049 | 446,888 |
Gartner, Inc. * | 2,635 | 316,464 |
Genpact Ltd. | 2,239 | 76,954 |
Globant S.A. * | 1,172 | 211,675 |
GoDaddy, Inc., Class A * | 5,043 | 356,742 |
Guidewire Software, Inc. * | 491 | 47,190 |
HubSpot, Inc. * | 1,253 | 363,458 |
Intuit, Inc. | 7,665 | 2,412,022 |
Jack Henry & Associates, Inc. | 1,805 | 267,591 |
Jamf Holding Corp. * | 277 | 9,030 |
Leidos Holdings, Inc. | 386 | 32,038 |
Manhattan Associates, Inc. * | 1,710 | 146,205 |
Mastercard, Inc., Class A | 26,835 | 7,745,654 |
Security | Number of Shares | Value ($) |
Medallia, Inc. * | 2,556 | 72,718 |
Microsoft Corp. | 227,751 | 46,112,745 |
MongoDB, Inc. * | 1,523 | 347,960 |
nCino, Inc. * | 358 | 25,246 |
New Relic, Inc. * | 1,573 | 95,418 |
NortonLifeLock, Inc. | 16,661 | 342,717 |
Nutanix, Inc., Class A * | 5,537 | 134,771 |
Okta, Inc. * | 3,495 | 733,356 |
Oracle Corp. | 51,408 | 2,884,503 |
PagerDuty, Inc. * | 2,103 | 56,991 |
Palo Alto Networks, Inc. * | 2,877 | 636,364 |
Paychex, Inc. | 7,708 | 633,983 |
Paycom Software, Inc. * | 1,497 | 545,043 |
Paylocity Holding Corp. * | 1,050 | 194,796 |
PayPal Holdings, Inc. * | 35,724 | 6,649,308 |
Pegasystems, Inc. | 1,076 | 124,687 |
Pluralsight, Inc., Class A * | 3,062 | 48,073 |
Proofpoint, Inc. * | 1,714 | 164,098 |
PTC, Inc. * | 3,149 | 264,138 |
RealPage, Inc. * | 2,351 | 130,927 |
RingCentral, Inc., Class A * | 2,356 | 608,649 |
salesforce.com, Inc. * | 24,422 | 5,672,498 |
Science Applications International Corp. | 244 | 18,634 |
ServiceNow, Inc. * | 5,780 | 2,875,955 |
Slack Technologies, Inc., Class A * | 11,590 | 296,472 |
Smartsheet, Inc., Class A * | 3,336 | 166,300 |
Splunk, Inc. * | 4,832 | 956,929 |
Square, Inc., Class A * | 11,235 | 1,740,077 |
SS&C Technologies Holdings, Inc. | 1,439 | 85,218 |
StoneCo Ltd., Class A * | 5,410 | 284,241 |
Switch, Inc., Class A | 2,563 | 36,036 |
Synopsys, Inc. * | 4,224 | 903,345 |
Teradata Corp. * | 2,432 | 44,676 |
The Trade Desk, Inc., Class A * | 1,256 | 711,461 |
The Western Union Co. | 2,354 | 45,762 |
Twilio, Inc., Class A * | 3,462 | 965,794 |
Tyler Technologies, Inc. * | 1,208 | 464,331 |
VeriSign, Inc. * | 1,834 | 349,744 |
Visa, Inc., Class A | 51,358 | 9,332,262 |
VMware, Inc., Class A * | 2,389 | 307,536 |
WEX, Inc. * | 125 | 15,819 |
Workday, Inc., Class A * | 5,215 | 1,095,776 |
Zendesk, Inc. * | 3,456 | 383,409 |
Zoom Video Communications, Inc., Class A * | 5,079 | 2,340,962 |
Zscaler, Inc. * | 2,139 | 290,369 |
127,499,911 | ||
Technology Hardware & Equipment 11.6% | ||
Amphenol Corp., Class A | 5,212 | 588,122 |
Apple Inc. | 490,823 | 53,430,992 |
Arista Networks, Inc. * | 1,473 | 307,710 |
CDW Corp. | 4,314 | 528,896 |
Cognex Corp. | 4,991 | 328,907 |
Coherent, Inc. * | 600 | 75,084 |
CommScope Holding Co., Inc. * | 321 | 2,857 |
Dell Technologies, Inc., Class C * | 459 | 27,659 |
Dolby Laboratories, Inc., Class A | 228 | 17,118 |
IPG Photonics Corp. * | 73 | 13,575 |
Jabil, Inc. | 870 | 28,832 |
Keysight Technologies, Inc. * | 1,918 | 201,141 |
Lumentum Holdings, Inc. * | 265 | 21,913 |
Motorola Solutions, Inc. | 522 | 82,507 |
NetApp, Inc. | 3,650 | 160,199 |
Pure Storage, Inc., Class A * | 4,203 | 67,668 |
Security | Number of Shares | Value ($) |
Ubiquiti, Inc. | 207 | 38,421 |
Zebra Technologies Corp., Class A * | 1,459 | 413,831 |
56,335,432 | ||
Transportation 1.3% | ||
C.H. Robinson Worldwide, Inc. | 638 | 56,418 |
Expeditors International of Washington, Inc. | 3,080 | 272,180 |
JB Hunt Transport Services, Inc. | 690 | 84,001 |
Landstar System, Inc. | 947 | 118,091 |
Old Dominion Freight Line, Inc. | 2,554 | 486,205 |
Uber Technologies, Inc. * | 32,245 | 1,077,306 |
Union Pacific Corp. | 10,533 | 1,866,342 |
United Parcel Service, Inc., Class B | 14,158 | 2,224,363 |
XPO Logistics, Inc. * | 124 | 11,160 |
6,196,066 | ||
Utilities 0.0% | ||
NRG Energy, Inc. | 2,588 | 81,833 |
Total Common Stock | ||
(Cost $360,904,879) | 484,974,088 | |
Other Investment Companies 0.8% of net assets | ||
Equity Funds 0.1% | ||
iShares Russell 1000 Growth ETF | 2,300 | 482,034 |
Money Market Fund 0.7% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 3,525,848 | 3,525,848 |
Securities Lending Collateral 0.0% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 18,600 | 18,600 |
Total Other Investment Companies | ||
(Cost $4,005,638) | 4,026,482 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 1000 Index, e-mini, expires 12/18/20 | 20 | 2,108,600 | (53,043) | |
S&P 500 Index, e-mini, expires 12/18/20 | 1 | 163,235 | (10,492) | |
Net Unrealized Depreciation | (63,535) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $17,700. |
(c) | The rate shown is the 7-day yield. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Automobiles & Components 0.9% | ||
Aptiv plc | 6,041 | 582,896 |
BorgWarner, Inc. | 4,812 | 168,324 |
Ford Motor Co. | 87,987 | 680,139 |
General Motors Co. | 28,209 | 974,057 |
Gentex Corp. | 5,514 | 152,572 |
Harley-Davidson, Inc. | 3,440 | 113,107 |
Lear Corp. | 1,359 | 164,181 |
Thor Industries, Inc. | 1,243 | 105,133 |
2,940,409 | ||
Banks 7.0% | ||
Associated Banc-Corp. | 3,405 | 46,614 |
Bank of America Corp. | 174,717 | 4,140,793 |
Bank of Hawaii Corp. | 884 | 53,606 |
Bank OZK | 2,752 | 68,195 |
BOK Financial Corp. | 704 | 41,353 |
Citigroup, Inc. | 47,034 | 1,948,148 |
Citizens Financial Group, Inc. | 9,643 | 262,772 |
Comerica, Inc. | 3,126 | 142,264 |
Commerce Bancshares, Inc. | 2,262 | 140,809 |
Cullen/Frost Bankers, Inc. | 1,261 | 88,610 |
East West Bancorp, Inc. | 3,170 | 115,642 |
F.N.B. Corp. | 7,261 | 54,893 |
Fifth Third Bancorp | 16,051 | 372,704 |
First Citizens BancShares, Inc., Class A | 145 | 67,091 |
First Hawaiian, Inc. | 2,909 | 50,209 |
First Horizon National Corp. | 12,266 | 127,689 |
First Republic Bank | 3,840 | 484,378 |
Huntington Bancshares, Inc. | 22,808 | 238,115 |
JPMorgan Chase & Co. | 68,420 | 6,707,897 |
KeyCorp | 21,955 | 284,976 |
M&T Bank Corp. | 2,890 | 299,346 |
MGIC Investment Corp. | 7,579 | 76,245 |
New York Community Bancorp, Inc. | 10,144 | 84,297 |
PacWest Bancorp | 2,615 | 50,313 |
People's United Financial, Inc. | 9,519 | 101,568 |
Pinnacle Financial Partners, Inc. | 1,664 | 76,195 |
Popular, Inc. | 1,858 | 78,408 |
Prosperity Bancshares, Inc. | 2,010 | 110,771 |
Regions Financial Corp. | 21,746 | 289,222 |
Rocket Cos., Inc., Class A * | 1,265 | 23,061 |
Signature Bank | 1,171 | 94,546 |
Sterling Bancorp | 4,334 | 57,989 |
SVB Financial Group * | 1,160 | 337,212 |
Synovus Financial Corp. | 3,286 | 85,436 |
TCF Financial Corp. | 3,396 | 92,405 |
TFS Financial Corp. | 1,094 | 17,187 |
The PNC Financial Services Group, Inc. | 9,577 | 1,071,475 |
Truist Financial Corp. | 30,420 | 1,281,290 |
U.S. Bancorp | 30,698 | 1,195,687 |
Umpqua Holdings Corp. | 4,939 | 62,034 |
Webster Financial Corp. | 2,009 | 64,710 |
Wells Fargo & Co. | 84,818 | 1,819,346 |
Western Alliance Bancorp | 2,199 | 90,599 |
Security | Number of Shares | Value ($) |
Wintrust Financial Corp. | 1,282 | 63,113 |
Zions Bancorp NA | 3,631 | 117,172 |
23,076,385 | ||
Capital Goods 9.4% | ||
3M Co. | 4,315 | 690,227 |
A.O. Smith Corp. | 2,981 | 154,088 |
Acuity Brands, Inc. | 884 | 78,800 |
AECOM * | 3,432 | 153,891 |
AGCO Corp. | 1,386 | 106,764 |
Air Lease Corp. | 2,386 | 64,995 |
Allegion plc | 724 | 71,314 |
Allison Transmission Holdings, Inc. | 891 | 32,210 |
AMETEK, Inc. | 5,170 | 507,694 |
Armstrong World Industries, Inc. | 673 | 40,313 |
BWX Technologies, Inc. | 767 | 42,193 |
Carlisle Cos., Inc. | 1,226 | 151,865 |
Carrier Global Corp. | 12,557 | 419,278 |
Caterpillar, Inc. | 12,230 | 1,920,721 |
Colfax Corp. * | 2,219 | 60,335 |
Crane Co. | 1,095 | 55,571 |
Cummins, Inc. | 3,326 | 731,354 |
Curtiss-Wright Corp. | 932 | 78,623 |
Deere & Co. | 6,367 | 1,438,369 |
Donaldson Co., Inc. | 2,558 | 121,505 |
Dover Corp. | 3,242 | 358,922 |
Eaton Corp. plc | 9,030 | 937,224 |
Emerson Electric Co. | 13,437 | 870,583 |
Fastenal Co. | 2,435 | 105,265 |
Flowserve Corp. | 2,930 | 85,322 |
Fortive Corp. | 6,711 | 413,398 |
Fortune Brands Home & Security, Inc. | 3,106 | 251,182 |
Gates Industrial Corp. plc * | 994 | 11,033 |
Generac Holdings, Inc. * | 121 | 25,428 |
General Dynamics Corp. | 5,724 | 751,733 |
General Electric Co. | 196,294 | 1,456,501 |
Graco, Inc. | 1,853 | 114,701 |
GrafTech International Ltd. | 1,457 | 9,835 |
HD Supply Holdings, Inc. * | 3,612 | 143,974 |
HEICO Corp. | 197 | 20,695 |
HEICO Corp., Class A | 342 | 31,977 |
Hexcel Corp. | 1,875 | 62,775 |
Honeywell International, Inc. | 15,860 | 2,616,107 |
Howmet Aerospace, Inc. | 8,943 | 154,267 |
Hubbell, Inc. | 1,223 | 177,959 |
Huntington Ingalls Industries, Inc. | 808 | 119,164 |
IDEX Corp. | 1,698 | 289,322 |
Illinois Tool Works, Inc. | 3,958 | 775,293 |
Ingersoll Rand, Inc. * | 7,818 | 273,161 |
ITT, Inc. | 1,941 | 117,450 |
Jacobs Engineering Group, Inc. | 2,829 | 268,755 |
Johnson Controls International plc | 16,799 | 709,086 |
L3Harris Technologies, Inc. | 4,861 | 783,156 |
Lennox International, Inc. | 781 | 212,166 |
Lincoln Electric Holdings, Inc. | 736 | 74,940 |
Masco Corp. | 5,924 | 317,526 |
Mercury Systems, Inc. * | 228 | 15,705 |
MSC Industrial Direct Co., Inc., Class A | 1,005 | 70,008 |
Nordson Corp. | 236 | 45,649 |
Security | Number of Shares | Value ($) |
Northrop Grumman Corp. | 285 | 82,599 |
nVent Electric plc | 3,492 | 63,031 |
Oshkosh Corp. | 1,523 | 102,589 |
Otis Worldwide Corp. | 9,206 | 564,144 |
Owens Corning | 2,421 | 158,503 |
PACCAR, Inc. | 7,650 | 653,157 |
Parker-Hannifin Corp. | 2,889 | 601,952 |
Pentair plc | 3,739 | 186,053 |
Quanta Services, Inc. | 2,477 | 154,639 |
Raytheon Technologies Corp. | 32,198 | 1,748,995 |
Regal Beloit Corp. | 910 | 89,771 |
Rockwell Automation, Inc. | 1,345 | 318,926 |
Roper Technologies, Inc. | 2,025 | 751,963 |
Sensata Technologies Holding plc * | 3,463 | 151,368 |
Snap-on, Inc. | 1,217 | 191,714 |
Spirit AeroSystems Holdings, Inc., Class A | 2,346 | 42,674 |
Stanley Black & Decker, Inc. | 3,479 | 578,210 |
Teledyne Technologies, Inc. * | 819 | 253,194 |
Textron, Inc. | 5,149 | 184,334 |
The AZEK Co., Inc. * | 820 | 27,421 |
The Boeing Co. | 12,062 | 1,741,632 |
The Middleby Corp. * | 1,236 | 123,031 |
The Timken Co. | 1,420 | 84,774 |
The Toro Co. | 237 | 19,458 |
Trane Technologies plc | 5,388 | 715,257 |
TransDigm Group, Inc. | 917 | 437,785 |
Trinity Industries, Inc. | 2,038 | 38,396 |
United Rentals, Inc. * | 1,627 | 290,078 |
Univar Solutions, Inc. * | 3,751 | 62,229 |
Valmont Industries, Inc. | 471 | 66,858 |
Virgin Galactic Holdings, Inc. * | 203 | 3,536 |
W.W. Grainger, Inc. | 266 | 93,105 |
Watsco, Inc. | 737 | 165,191 |
Westinghouse Air Brake Technologies Corp. | 4,087 | 242,359 |
Woodward, Inc. | 1,249 | 99,358 |
Xylem, Inc. | 4,034 | 351,523 |
31,030,179 | ||
Commercial & Professional Services 0.8% | ||
ADT, Inc. | 3,506 | 23,104 |
Cintas Corp. | 226 | 71,088 |
Clean Harbors, Inc. * | 1,157 | 61,286 |
CoreLogic, Inc. | 1,689 | 129,935 |
Dun & Bradstreet Holdings, Inc. * | 1,008 | 26,047 |
Equifax, Inc. | 701 | 95,756 |
FTI Consulting, Inc. * | 819 | 80,639 |
IAA, Inc. * | 2,295 | 129,874 |
IHS Markit Ltd. | 4,074 | 329,464 |
ManpowerGroup, Inc. | 1,301 | 88,299 |
MSA Safety, Inc. | 635 | 83,769 |
Nielsen Holdings plc | 8,004 | 108,134 |
Republic Services, Inc. | 4,733 | 417,309 |
Robert Half International, Inc. | 2,506 | 127,029 |
Rollins, Inc. | 416 | 24,066 |
Stericycle, Inc. * | 2,053 | 127,902 |
TransUnion | 380 | 30,271 |
Waste Management, Inc. | 8,302 | 895,869 |
2,849,841 | ||
Consumer Durables & Apparel 1.4% | ||
Brunswick Corp. | 1,776 | 113,149 |
Capri Holdings Ltd. * | 3,179 | 67,458 |
Carter's, Inc. | 962 | 78,355 |
Columbia Sportswear Co. | 647 | 48,260 |
D.R. Horton, Inc. | 7,461 | 498,469 |
Garmin Ltd. | 3,374 | 350,963 |
Security | Number of Shares | Value ($) |
Hanesbrands, Inc. | 7,786 | 125,121 |
Hasbro, Inc. | 2,872 | 237,572 |
Leggett & Platt, Inc. | 2,962 | 123,604 |
Lennar Corp., Class A | 6,102 | 428,543 |
Lennar Corp., Class B | 353 | 20,082 |
Mattel, Inc. * | 3,136 | 43,183 |
Mohawk Industries, Inc. * | 1,303 | 134,457 |
Newell Brands, Inc. | 8,613 | 152,106 |
NVR, Inc. * | 68 | 268,810 |
Peloton Interactive, Inc., Class A * | 1,660 | 182,949 |
Polaris, Inc. | 1,173 | 106,579 |
PulteGroup, Inc. | 6,039 | 246,150 |
PVH Corp. | 1,572 | 91,632 |
Ralph Lauren Corp. | 1,063 | 71,061 |
Skechers U.S.A., Inc., Class A * | 3,004 | 95,257 |
Tapestry, Inc. | 6,192 | 137,648 |
Tempur Sealy International, Inc. * | 275 | 24,475 |
Toll Brothers, Inc. | 2,597 | 109,801 |
Under Armour, Inc., Class A * | 4,223 | 58,446 |
Under Armour, Inc., Class C * | 4,418 | 54,032 |
VF Corp. | 6,863 | 461,194 |
Whirlpool Corp. | 1,377 | 254,690 |
4,584,046 | ||
Consumer Services 2.7% | ||
Aramark | 5,178 | 143,638 |
Bright Horizons Family Solutions, Inc. * | 414 | 65,433 |
Carnival Corp. | 10,665 | 146,217 |
Choice Hotels International, Inc. | 780 | 68,133 |
Darden Restaurants, Inc. | 2,935 | 269,785 |
Dunkin' Brands Group, Inc. | 272 | 27,121 |
Extended Stay America, Inc. | 3,965 | 45,003 |
frontdoor, Inc. * | 1,599 | 63,352 |
Graham Holdings Co., Class B | 89 | 33,850 |
Grand Canyon Education, Inc. * | 1,050 | 82,289 |
H&R Block, Inc. | 1,288 | 22,231 |
Hilton Worldwide Holdings, Inc. | 6,160 | 540,910 |
Hyatt Hotels Corp., Class A | 785 | 43,285 |
Las Vegas Sands Corp. | 4,305 | 206,898 |
Marriott International, Inc., Class A | 6,065 | 563,317 |
McDonald's Corp. | 14,411 | 3,069,543 |
MGM Resorts International | 10,581 | 217,651 |
Norwegian Cruise Line Holdings Ltd. * | 6,196 | 103,039 |
Planet Fitness, Inc., Class A * | 778 | 46,112 |
Royal Caribbean Cruises Ltd. | 3,952 | 222,972 |
Service Corp. International | 3,895 | 180,377 |
Six Flags Entertainment Corp. | 1,716 | 37,100 |
Starbucks Corp. | 11,169 | 971,256 |
Terminix Global Holdings, Inc. * | 2,972 | 139,952 |
Vail Resorts, Inc. | 831 | 192,825 |
Wyndham Destinations, Inc. | 1,882 | 61,410 |
Wyndham Hotels & Resorts, Inc. | 2,055 | 95,578 |
Wynn Resorts Ltd. | 1,654 | 119,799 |
Yum China Holdings, Inc. | 8,412 | 447,771 |
Yum! Brands, Inc. | 6,290 | 587,046 |
8,813,893 | ||
Diversified Financials 8.0% | ||
Affiliated Managers Group, Inc. | 1,056 | 79,591 |
AGNC Investment Corp. | 12,579 | 175,729 |
Ally Financial, Inc. | 8,435 | 225,046 |
American Express Co. | 14,766 | 1,347,250 |
Ameriprise Financial, Inc. | 2,719 | 437,297 |
Annaly Capital Management, Inc. | 31,717 | 224,874 |
Apollo Global Management, Inc. | 1,938 | 71,435 |
Berkshire Hathaway, Inc., Class B * | 43,277 | 8,737,626 |
Security | Number of Shares | Value ($) |
BlackRock, Inc. | 3,324 | 1,991,774 |
Capital One Financial Corp. | 10,216 | 746,585 |
Cboe Global Markets, Inc. | 1,940 | 157,703 |
CME Group, Inc. | 8,014 | 1,207,870 |
Credit Acceptance Corp. * | 208 | 62,009 |
Discover Financial Services | 6,914 | 449,479 |
Eaton Vance Corp. | 2,491 | 148,937 |
Equitable Holdings, Inc. | 9,216 | 198,052 |
Evercore, Inc., Class A | 885 | 70,393 |
Franklin Resources, Inc. | 6,091 | 114,206 |
Interactive Brokers Group, Inc., Class A | 1,656 | 78,776 |
Intercontinental Exchange, Inc. | 7,898 | 745,571 |
Invesco Ltd. | 8,481 | 111,186 |
Jefferies Financial Group, Inc. | 5,093 | 99,364 |
KKR & Co., Inc. | 12,019 | 410,449 |
Lazard Ltd., Class A | 2,266 | 76,296 |
LendingTree, Inc. * | 9 | 2,912 |
LPL Financial Holdings, Inc. | 1,626 | 129,966 |
Morgan Stanley | 30,120 | 1,450,278 |
Morningstar, Inc. | 78 | 14,850 |
Nasdaq, Inc. | 2,580 | 312,154 |
New Residential Investment Corp. | 9,323 | 69,923 |
Northern Trust Corp. | 4,333 | 339,144 |
OneMain Holdings, Inc. | 1,461 | 50,974 |
Raymond James Financial, Inc. | 2,775 | 212,121 |
S&P Global, Inc. | 2,229 | 719,365 |
Santander Consumer USA Holdings, Inc. | 1,695 | 34,476 |
SEI Investments Co. | 2,599 | 127,741 |
SLM Corp. | 6,455 | 59,321 |
Starwood Property Trust, Inc. | 6,138 | 85,748 |
State Street Corp. | 7,941 | 467,725 |
Synchrony Financial | 13,151 | 329,038 |
T. Rowe Price Group, Inc. | 3,807 | 482,195 |
The Bank of New York Mellon Corp. | 18,020 | 619,167 |
The Carlyle Group, Inc. | 2,382 | 59,359 |
The Charles Schwab Corp. (a) | 32,350 | 1,329,909 |
The Goldman Sachs Group, Inc. | 7,481 | 1,414,208 |
Tradeweb Markets, Inc., Class A | 277 | 15,091 |
Virtu Financial, Inc., Class A | 151 | 3,228 |
Voya Financial, Inc. | 2,825 | 135,402 |
26,431,793 | ||
Energy 3.9% | ||
Antero Midstream Corp. | 6,381 | 36,563 |
Apache Corp. | 8,506 | 70,600 |
Baker Hughes Co. | 14,829 | 219,024 |
Cabot Oil & Gas Corp. | 8,879 | 157,957 |
Chevron Corp. | 43,505 | 3,023,598 |
Cimarex Energy Co. | 2,249 | 57,057 |
Concho Resources, Inc. | 4,403 | 182,769 |
ConocoPhillips | 24,256 | 694,207 |
Continental Resources, Inc. | 1,681 | 20,222 |
Devon Energy Corp. | 8,614 | 76,923 |
Diamondback Energy, Inc. | 3,549 | 92,132 |
EOG Resources, Inc. | 13,147 | 450,153 |
EQT Corp. | 5,721 | 86,616 |
Equitrans Midstream Corp. | 8,319 | 60,396 |
Exxon Mobil Corp. | 95,600 | 3,118,472 |
Halliburton Co. | 19,771 | 238,438 |
Helmerich & Payne, Inc. | 2,344 | 34,855 |
Hess Corp. | 6,201 | 230,801 |
HollyFrontier Corp. | 3,373 | 62,434 |
Kinder Morgan, Inc. | 43,894 | 522,339 |
Marathon Oil Corp. | 17,805 | 70,508 |
Marathon Petroleum Corp. | 14,601 | 430,730 |
Murphy Oil Corp. | 3,256 | 25,136 |
National Oilwell Varco, Inc. | 8,727 | 73,307 |
Security | Number of Shares | Value ($) |
Occidental Petroleum Corp. | 18,871 | 172,292 |
ONEOK, Inc. | 9,908 | 287,332 |
Parsley Energy, Inc., Class A | 6,795 | 68,018 |
Phillips 66 | 9,848 | 459,508 |
Pioneer Natural Resources Co. | 3,703 | 294,611 |
Schlumberger N.V. | 31,344 | 468,279 |
Targa Resources Corp. | 5,202 | 83,492 |
The Williams Cos., Inc. | 27,427 | 526,324 |
Valero Energy Corp. | 9,197 | 355,096 |
WPX Energy, Inc. * | 9,029 | 41,624 |
12,791,813 | ||
Food & Staples Retailing 1.9% | ||
Albertsons Cos., Inc., Class A * | 668 | 9,813 |
Casey's General Stores, Inc. | 826 | 139,239 |
Costco Wholesale Corp. | 1,167 | 417,343 |
Grocery Outlet Holding Corp. * | 728 | 32,047 |
Sprouts Farmers Market, Inc. * | 416 | 7,925 |
Sysco Corp. | 3,158 | 174,669 |
The Kroger Co. | 17,469 | 562,676 |
U.S. Foods Holding Corp. * | 4,928 | 102,995 |
Walgreens Boots Alliance, Inc. | 16,348 | 556,486 |
Walmart, Inc. | 31,479 | 4,367,711 |
6,370,904 | ||
Food, Beverage & Tobacco 4.1% | ||
Altria Group, Inc. | 23,691 | 854,771 |
Archer-Daniels-Midland Co. | 12,500 | 578,000 |
Beyond Meat, Inc. * | 234 | 33,329 |
Brown-Forman Corp., Class A | 150 | 9,412 |
Brown-Forman Corp., Class B | 593 | 41,338 |
Bunge Ltd. | 3,058 | 173,480 |
Campbell Soup Co. | 1,984 | 92,593 |
Conagra Brands, Inc. | 10,995 | 385,815 |
Constellation Brands, Inc., Class A | 3,600 | 594,828 |
Flowers Foods, Inc. | 4,378 | 103,233 |
General Mills, Inc. | 13,698 | 809,826 |
Hormel Foods Corp. | 6,291 | 306,309 |
Ingredion, Inc. | 1,511 | 107,115 |
Kellogg Co. | 3,729 | 234,517 |
Keurig Dr Pepper, Inc. | 8,749 | 235,348 |
Lamb Weston Holdings, Inc. | 2,548 | 161,671 |
McCormick & Co., Inc. - Non Voting Shares | 1,235 | 222,930 |
Molson Coors Beverage Co., Class B | 3,924 | 138,360 |
Mondelez International, Inc., Class A | 31,888 | 1,693,891 |
PepsiCo, Inc. | 8,333 | 1,110,706 |
Philip Morris International, Inc. | 35,145 | 2,495,998 |
Pilgrim's Pride Corp. * | 816 | 13,660 |
Post Holdings, Inc. * | 1,435 | 123,266 |
Seaboard Corp. | 6 | 20,670 |
The Coca-Cola Co. | 36,057 | 1,732,899 |
The Hain Celestial Group, Inc. * | 1,832 | 56,334 |
The Hershey Co. | 757 | 104,057 |
The JM Smucker Co. | 2,491 | 279,490 |
The Kraft Heinz Co. | 14,609 | 446,889 |
TreeHouse Foods, Inc. * | 1,251 | 48,589 |
Tyson Foods, Inc., Class A | 6,486 | 371,194 |
13,580,518 | ||
Health Care Equipment & Services 7.2% | ||
Abbott Laboratories | 24,051 | 2,528,001 |
Acadia Healthcare Co., Inc. * | 1,975 | 70,409 |
AmerisourceBergen Corp. | 1,717 | 164,952 |
Anthem, Inc. | 4,234 | 1,155,035 |
Baxter International, Inc. | 6,680 | 518,168 |
Security | Number of Shares | Value ($) |
Becton, Dickinson & Co. | 6,231 | 1,440,171 |
Boston Scientific Corp. * | 32,270 | 1,105,893 |
Centene Corp. * | 9,139 | 540,115 |
Change Healthcare, Inc. * | 1,443 | 20,418 |
Cigna Corp. | 5,966 | 996,143 |
CVS Health Corp. | 29,522 | 1,655,889 |
Danaher Corp. | 14,140 | 3,245,696 |
DaVita, Inc. * | 1,554 | 134,032 |
DENTSPLY SIRONA, Inc. | 4,933 | 232,788 |
Encompass Health Corp. | 1,228 | 75,289 |
Envista Holdings Corp. * | 3,578 | 94,531 |
Globus Medical, Inc., Class A * | 1,662 | 86,623 |
Haemonetics Corp. * | 75 | 7,582 |
HCA Healthcare, Inc. | 2,882 | 357,195 |
Henry Schein, Inc. * | 3,222 | 204,855 |
Hill-Rom Holdings, Inc. | 1,328 | 120,941 |
Hologic, Inc. * | 1,742 | 119,884 |
Humana, Inc. | 1,847 | 737,470 |
ICU Medical, Inc. * | 319 | 56,715 |
Integra LifeSciences Holdings Corp. * | 1,606 | 70,825 |
Laboratory Corp. of America Holdings * | 2,067 | 412,925 |
McKesson Corp. | 926 | 136,576 |
Medtronic plc | 30,300 | 3,047,271 |
Molina Healthcare, Inc. * | 433 | 80,741 |
Oak Street Health, Inc. * | 193 | 9,185 |
Premier, Inc., Class A | 1,382 | 45,233 |
Quest Diagnostics, Inc. | 3,014 | 368,130 |
STERIS plc | 1,795 | 318,056 |
Stryker Corp. | 5,273 | 1,065,199 |
Tandem Diabetes Care, Inc. * | 143 | 15,587 |
Teladoc Health, Inc. * | 158 | 31,041 |
Teleflex, Inc. | 387 | 123,155 |
The Cooper Cos., Inc. | 966 | 308,202 |
UnitedHealth Group, Inc. | 3,581 | 1,092,706 |
Universal Health Services, Inc., Class B | 1,666 | 182,510 |
Varian Medical Systems, Inc. * | 1,789 | 309,139 |
Zimmer Biomet Holdings, Inc. | 4,674 | 617,435 |
23,902,711 | ||
Household & Personal Products 2.2% | ||
Colgate-Palmolive Co. | 19,030 | 1,501,277 |
Coty, Inc., Class A | 6,475 | 18,778 |
Energizer Holdings, Inc. | 287 | 11,293 |
Herbalife Nutrition Ltd. * | 1,755 | 79,221 |
Kimberly-Clark Corp. | 7,668 | 1,016,700 |
Nu Skin Enterprises, Inc., Class A | 1,152 | 56,851 |
Reynolds Consumer Products, Inc. | 801 | 22,620 |
Spectrum Brands Holdings, Inc. | 952 | 54,140 |
The Clorox Co. | 831 | 172,225 |
The Estee Lauder Cos., Inc., Class A | 528 | 115,980 |
The Procter & Gamble Co. | 30,437 | 4,172,913 |
7,221,998 | ||
Insurance 3.4% | ||
Aflac, Inc. | 16,019 | 543,845 |
Alleghany Corp. | 283 | 154,781 |
American Financial Group, Inc. | 1,630 | 122,152 |
American International Group, Inc. | 19,458 | 612,732 |
American National Group, Inc. | 165 | 11,352 |
Arch Capital Group Ltd. * | 8,880 | 268,265 |
Arthur J. Gallagher & Co. | 4,243 | 440,042 |
Assurant, Inc. | 1,350 | 167,899 |
Assured Guaranty Ltd. | 1,797 | 45,877 |
Athene Holding Ltd., Class A * | 2,594 | 83,216 |
Axis Capital Holdings Ltd. | 1,694 | 72,317 |
Brighthouse Financial, Inc. * | 2,115 | 70,007 |
Security | Number of Shares | Value ($) |
Brown & Brown, Inc. | 5,025 | 218,638 |
Chubb Ltd. | 10,149 | 1,318,457 |
Cincinnati Financial Corp. | 3,383 | 239,313 |
CNA Financial Corp. | 630 | 18,768 |
Erie Indemnity Co., Class A | 242 | 56,355 |
Everest Re Group Ltd. | 887 | 174,810 |
Fidelity National Financial, Inc. | 6,210 | 194,311 |
First American Financial Corp. | 2,437 | 108,666 |
Globe Life, Inc. | 2,371 | 192,264 |
GoHealth, Inc., Class A * | 864 | 8,951 |
Kemper Corp. | 1,394 | 85,954 |
Lemonade, Inc. * | 291 | 14,634 |
Lincoln National Corp. | 3,791 | 133,064 |
Loews Corp. | 5,413 | 187,723 |
Markel Corp. * | 305 | 284,504 |
Marsh & McLennan Cos., Inc. | 2,551 | 263,926 |
Mercury General Corp. | 613 | 24,955 |
MetLife, Inc. | 17,359 | 657,038 |
Old Republic International Corp. | 6,368 | 103,671 |
Primerica, Inc. | 339 | 37,371 |
Principal Financial Group, Inc. | 6,148 | 241,125 |
Prudential Financial, Inc. | 8,928 | 571,571 |
Reinsurance Group of America, Inc. | 1,534 | 154,965 |
RenaissanceRe Holdings Ltd. | 756 | 122,260 |
The Allstate Corp. | 7,073 | 627,729 |
The Hanover Insurance Group, Inc. | 851 | 81,407 |
The Hartford Financial Services Group, Inc. | 8,064 | 310,625 |
The Progressive Corp. | 9,395 | 863,400 |
The Travelers Cos., Inc. | 5,704 | 688,530 |
Unum Group | 4,568 | 80,671 |
W.R. Berkley Corp. | 3,147 | 189,198 |
White Mountains Insurance Group Ltd. | 68 | 61,766 |
Willis Towers Watson plc | 2,901 | 529,374 |
11,438,479 | ||
Materials 4.8% | ||
Air Products & Chemicals, Inc. | 4,352 | 1,202,196 |
Albemarle Corp. | 2,384 | 222,213 |
Amcor plc | 30,155 | 314,517 |
AptarGroup, Inc. | 1,456 | 166,115 |
Ardagh Group S.A. | 414 | 6,823 |
Ashland Global Holdings, Inc. | 1,244 | 86,794 |
Avery Dennison Corp. | 1,100 | 152,229 |
Axalta Coating Systems Ltd. * | 4,730 | 118,770 |
Ball Corp. | 459 | 40,851 |
Berry Global Group, Inc. * | 1,968 | 91,768 |
Cabot Corp. | 1,248 | 47,436 |
Celanese Corp. | 2,662 | 302,164 |
CF Industries Holdings, Inc. | 4,839 | 133,605 |
Corteva, Inc. | 16,919 | 557,989 |
Crown Holdings, Inc. * | 2,627 | 225,397 |
Dow, Inc. | 16,751 | 762,003 |
DuPont de Nemours, Inc. | 16,594 | 943,867 |
Eagle Materials, Inc. | 927 | 79,027 |
Eastman Chemical Co. | 3,070 | 248,179 |
Ecolab, Inc. | 4,504 | 826,889 |
Element Solutions, Inc. * | 4,877 | 57,158 |
FMC Corp. | 2,351 | 241,542 |
Freeport-McMoRan, Inc. | 32,715 | 567,278 |
Graphic Packaging Holding Co. | 4,890 | 64,988 |
Huntsman Corp. | 4,494 | 109,159 |
International Flavors & Fragrances, Inc. (b) | 2,413 | 247,719 |
International Paper Co. | 8,878 | 388,412 |
Linde plc | 11,863 | 2,613,893 |
LyondellBasell Industries N.V., Class A | 5,786 | 396,052 |
Martin Marietta Materials, Inc. | 1,402 | 373,423 |
NewMarket Corp. | 26 | 9,300 |
Security | Number of Shares | Value ($) |
Newmont Corp. | 18,127 | 1,139,101 |
Nucor Corp. | 6,796 | 324,577 |
Olin Corp. | 3,205 | 53,043 |
Packaging Corp. of America | 2,114 | 242,032 |
PPG Industries, Inc. | 5,321 | 690,240 |
Reliance Steel & Aluminum Co. | 1,424 | 155,202 |
Royal Gold, Inc. | 419 | 49,781 |
RPM International, Inc. | 471 | 39,879 |
Sealed Air Corp. | 3,486 | 138,011 |
Silgan Holdings, Inc. | 1,768 | 60,908 |
Sonoco Products Co. | 2,252 | 110,100 |
Southern Copper Corp. | 1,852 | 96,934 |
Steel Dynamics, Inc. | 4,553 | 143,328 |
The Chemours Co. | 3,663 | 73,773 |
The Mosaic Co. | 7,832 | 144,892 |
The Scotts Miracle-Gro Co. | 57 | 8,553 |
Valvoline, Inc. | 4,165 | 81,925 |
Vulcan Materials Co. | 2,981 | 431,768 |
W.R. Grace & Co. | 811 | 35,270 |
Westlake Chemical Corp. | 762 | 51,526 |
WestRock Co. | 5,796 | 217,640 |
15,886,239 | ||
Media & Entertainment 6.0% | ||
Activision Blizzard, Inc. | 10,430 | 789,864 |
Alphabet, Inc., Class A * | 1,519 | 2,454,871 |
Alphabet, Inc., Class C * | 1,499 | 2,429,894 |
Charter Communications, Inc., Class A * | 328 | 198,053 |
Comcast Corp., Class A | 102,351 | 4,323,306 |
Discovery, Inc., Class A * | 3,508 | 71,002 |
Discovery, Inc., Class C * | 7,355 | 134,744 |
DISH Network Corp., Class A * | 5,564 | 141,826 |
Electronic Arts, Inc. * | 5,545 | 664,457 |
Fox Corp., Class A | 7,660 | 203,143 |
Fox Corp., Class B | 3,589 | 93,817 |
John Wiley & Sons, Inc., Class A | 971 | 30,062 |
Liberty Broadband Corp., Class A * | 564 | 79,270 |
Liberty Broadband Corp., Class C * | 2,360 | 334,436 |
Liberty Media Corp. - Liberty Formula One, Class A * | 564 | 18,781 |
Liberty Media Corp. - Liberty Formula One, Class C * | 4,446 | 160,634 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 1,677 | 57,974 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 3,460 | 119,716 |
Lions Gate Entertainment Corp., Class A * | 1,234 | 8,268 |
Lions Gate Entertainment Corp., Class B * | 2,672 | 16,753 |
Madison Square Garden Entertainment Corp. * | 418 | 27,170 |
Madison Square Garden Sports Corp. * | 422 | 59,772 |
News Corp., Class A | 8,745 | 114,822 |
News Corp., Class B | 2,734 | 35,597 |
Nexstar Media Group, Inc., Class A | 327 | 26,945 |
Omnicom Group, Inc. | 4,814 | 227,221 |
Pinterest, Inc., Class A * | 1,535 | 90,488 |
Sirius XM Holdings, Inc. | 10,595 | 60,709 |
Take-Two Interactive Software, Inc. * | 190 | 29,435 |
The Interpublic Group of Cos., Inc. | 8,821 | 159,572 |
The New York Times Co., Class A | 3,654 | 144,918 |
The Walt Disney Co. | 40,824 | 4,949,910 |
TripAdvisor, Inc. | 2,255 | 43,093 |
Twitter, Inc. * | 17,354 | 717,761 |
ViacomCBS, Inc., Class B | 12,492 | 356,896 |
Zillow Group, Inc., Class A * | 1,151 | 102,819 |
Security | Number of Shares | Value ($) |
Zillow Group, Inc., Class C * | 2,819 | 249,820 |
Zynga, Inc., Class A * | 3,529 | 31,726 |
19,759,545 | ||
Pharmaceuticals, Biotechnology & Life Sciences 6.9% | ||
AbbVie, Inc. | 2,395 | 203,815 |
Acceleron Pharma, Inc. * | 62 | 6,484 |
Agilent Technologies, Inc. | 6,378 | 651,130 |
Agios Pharmaceuticals, Inc. * | 1,253 | 50,208 |
Alexion Pharmaceuticals, Inc. * | 4,060 | 467,468 |
Alkermes plc * | 3,555 | 57,769 |
Berkeley Lights, Inc. * | 99 | 7,184 |
Bio-Rad Laboratories, Inc., Class A * | 476 | 279,136 |
Bio-Techne Corp. | 51 | 12,873 |
Biogen, Inc. * | 2,483 | 625,890 |
BioMarin Pharmaceutical, Inc. * | 379 | 28,209 |
Bluebird Bio, Inc. * | 834 | 43,126 |
Bristol-Myers Squibb Co. | 32,574 | 1,903,950 |
Bruker Corp. | 1,338 | 56,919 |
Catalent, Inc. * | 3,672 | 322,291 |
Charles River Laboratories International, Inc. * | 125 | 28,463 |
Elanco Animal Health, Inc. * | 9,021 | 279,741 |
Exact Sciences Corp. * | 441 | 54,609 |
Exelixis, Inc. * | 4,349 | 89,068 |
Gilead Sciences, Inc. | 28,364 | 1,649,367 |
Horizon Therapeutics plc * | 328 | 24,577 |
Ionis Pharmaceuticals, Inc. * | 1,495 | 70,190 |
IQVIA Holdings, Inc. * | 2,664 | 410,229 |
Jazz Pharmaceuticals plc * | 1,224 | 176,378 |
Johnson & Johnson | 51,580 | 7,072,134 |
Merck & Co., Inc. | 7,187 | 540,534 |
Mettler-Toledo International, Inc. * | 32 | 31,933 |
Mylan N.V. * | 11,668 | 169,653 |
Nektar Therapeutics * | 3,911 | 61,950 |
PerkinElmer, Inc. | 2,023 | 262,080 |
Perrigo Co., plc | 3,066 | 134,505 |
Pfizer, Inc. | 125,613 | 4,456,749 |
PPD, Inc. * | 551 | 18,117 |
PRA Health Sciences, Inc. * | 211 | 20,560 |
QIAGEN N.V. * | 5,086 | 241,280 |
Reata Pharmaceuticals, Inc., Class A * | 56 | 6,536 |
Royalty Pharma plc, Class A | 1,325 | 48,628 |
Sage Therapeutics, Inc. * | 1,064 | 78,076 |
Syneos Health, Inc. * | 1,382 | 73,357 |
Thermo Fisher Scientific, Inc. | 3,684 | 1,742,974 |
United Therapeutics Corp. * | 976 | 131,008 |
Waters Corp. * | 1,281 | 285,432 |
Zoetis, Inc. | 1,015 | 160,928 |
23,035,508 | ||
Real Estate 4.5% | ||
Alexandria Real Estate Equities, Inc. | 2,824 | 427,893 |
American Campus Communities, Inc. | 3,076 | 115,227 |
American Homes 4 Rent, Class A | 5,830 | 164,814 |
Americold Realty Trust | 4,116 | 149,123 |
Apartment Investment & Management Co., Class A | 3,332 | 106,291 |
Apple Hospitality REIT, Inc. | 4,710 | 46,629 |
AvalonBay Communities, Inc. | 3,175 | 441,738 |
Boston Properties, Inc. | 3,512 | 254,304 |
Brandywine Realty Trust | 3,786 | 33,165 |
Brixmor Property Group, Inc. | 6,661 | 73,005 |
Brookfield Property REIT, Inc., Class A (b) | 148 | 2,183 |
Camden Property Trust | 2,134 | 196,840 |
CBRE Group, Inc., Class A * | 7,528 | 379,411 |
CoreSite Realty Corp. | 294 | 35,092 |
Security | Number of Shares | Value ($) |
Corporate Office Properties Trust | 2,530 | 56,748 |
Cousins Properties, Inc. | 3,328 | 84,797 |
Crown Castle International Corp. | 628 | 98,094 |
CubeSmart | 4,338 | 147,188 |
CyrusOne, Inc. | 2,641 | 187,643 |
Digital Realty Trust, Inc. | 6,031 | 870,273 |
Douglas Emmett, Inc. | 3,745 | 88,382 |
Duke Realty Corp. | 8,312 | 315,773 |
Empire State Realty Trust, Inc., Class A | 3,290 | 17,700 |
EPR Properties | 1,669 | 39,789 |
Equity Commonwealth | 2,621 | 69,247 |
Equity LifeStyle Properties, Inc. | 2,309 | 136,670 |
Equity Residential | 8,294 | 389,652 |
Essex Property Trust, Inc. | 1,472 | 301,157 |
Extra Space Storage, Inc. | 839 | 97,282 |
Federal Realty Investment Trust | 1,691 | 116,307 |
First Industrial Realty Trust, Inc. | 2,846 | 113,299 |
Gaming & Leisure Properties, Inc. | 4,682 | 170,191 |
Healthcare Trust of America, Inc., Class A | 4,894 | 118,924 |
Healthpeak Properties, Inc. | 12,175 | 328,360 |
Highwoods Properties, Inc. | 2,316 | 68,947 |
Host Hotels & Resorts, Inc. | 15,833 | 165,930 |
Hudson Pacific Properties, Inc. | 3,379 | 65,080 |
Invitation Homes, Inc. | 12,628 | 344,239 |
Iron Mountain, Inc. | 2,658 | 69,267 |
JBG SMITH Properties | 2,743 | 64,049 |
Jones Lang LaSalle, Inc. | 1,156 | 130,466 |
Kilroy Realty Corp. | 2,583 | 121,608 |
Kimco Realty Corp. | 9,272 | 95,131 |
Lamar Advertising Co., Class A | 1,931 | 119,645 |
Life Storage, Inc. | 1,046 | 119,401 |
Medical Properties Trust, Inc. | 11,745 | 209,296 |
Mid-America Apartment Communities, Inc. | 2,569 | 299,622 |
National Retail Properties, Inc. | 3,847 | 123,142 |
Omega Healthcare Investors, Inc. | 5,103 | 147,017 |
Outfront Media, Inc. | 3,271 | 42,883 |
Paramount Group, Inc. | 4,250 | 24,565 |
Park Hotels & Resorts, Inc. | 5,386 | 53,483 |
Prologis, Inc. | 16,623 | 1,649,002 |
Public Storage | 1,182 | 270,761 |
Rayonier, Inc. | 2,959 | 75,099 |
Realty Income Corp. | 7,760 | 448,994 |
Regency Centers Corp. | 3,783 | 134,637 |
Rexford Industrial Realty, Inc. | 2,777 | 129,019 |
SBA Communications Corp. | 2,158 | 626,618 |
Simon Property Group, Inc. | 1,457 | 91,514 |
SL Green Realty Corp. | 1,641 | 70,251 |
Spirit Realty Capital, Inc. | 2,312 | 69,476 |
STORE Capital Corp. | 5,235 | 134,540 |
Sun Communities, Inc. | 2,180 | 300,033 |
Taubman Centers, Inc. | 1,350 | 45,117 |
The Howard Hughes Corp. * | 875 | 54,416 |
UDR, Inc. | 6,611 | 206,528 |
Ventas, Inc. | 8,421 | 332,377 |
VEREIT, Inc. | 24,472 | 151,726 |
VICI Properties, Inc. | 12,086 | 277,374 |
Vornado Realty Trust | 3,943 | 121,168 |
Weingarten Realty Investors | 2,720 | 43,139 |
Welltower, Inc. | 9,434 | 507,266 |
Weyerhaeuser Co. | 16,855 | 459,973 |
WP Carey, Inc. | 3,871 | 242,363 |
14,878,353 | ||
Retailing 2.7% | ||
Advance Auto Parts, Inc. | 1,503 | 221,362 |
AutoNation, Inc. * | 1,299 | 73,692 |
AutoZone, Inc. * | 216 | 243,860 |
Security | Number of Shares | Value ($) |
Best Buy Co., Inc. | 4,219 | 470,630 |
Burlington Stores, Inc. * | 155 | 30,005 |
CarMax, Inc. * | 3,397 | 293,637 |
Dick's Sporting Goods, Inc. | 1,383 | 78,347 |
Dollar Tree, Inc. * | 2,767 | 249,915 |
eBay, Inc. | 1,294 | 61,633 |
Expedia Group, Inc. | 2,710 | 255,147 |
Foot Locker, Inc. | 2,319 | 85,525 |
Genuine Parts Co. | 3,172 | 286,844 |
GrubHub, Inc. * | 1,869 | 138,231 |
Kohl's Corp. | 3,551 | 75,601 |
L Brands, Inc. | 5,143 | 164,627 |
LKQ Corp. * | 6,843 | 218,908 |
Nordstrom, Inc. | 2,453 | 29,681 |
Ollie's Bargain Outlet Holdings, Inc. * | 137 | 11,931 |
Penske Automotive Group, Inc. | 715 | 36,579 |
Qurate Retail, Inc. Class A | 8,655 | 58,594 |
Ross Stores, Inc. | 1,499 | 127,670 |
Target Corp. | 11,289 | 1,718,412 |
The Gap, Inc. | 4,093 | 79,609 |
The Home Depot, Inc. | 12,134 | 3,236,259 |
The TJX Cos., Inc. | 5,151 | 261,671 |
Tiffany & Co. | 2,732 | 357,455 |
Ulta Beauty, Inc. * | 85 | 17,575 |
Vroom, Inc. * | 122 | 5,014 |
Wayfair, Inc., Class A * | 130 | 32,244 |
Williams-Sonoma, Inc. | 1,444 | 131,707 |
9,052,365 | ||
Semiconductors & Semiconductor Equipment 3.2% | ||
Advanced Micro Devices, Inc. * | 1,838 | 138,383 |
Analog Devices, Inc. | 7,303 | 865,625 |
Broadcom, Inc. | 457 | 159,781 |
Cirrus Logic, Inc. * | 1,315 | 90,564 |
Cree, Inc. * | 2,428 | 154,421 |
Entegris, Inc. | 192 | 14,356 |
First Solar, Inc. * | 2,060 | 179,313 |
Intel Corp. | 95,750 | 4,239,810 |
Marvell Technology Group Ltd. | 14,873 | 557,886 |
Maxim Integrated Products, Inc. | 4,005 | 278,948 |
Microchip Technology, Inc. | 1,370 | 143,960 |
Micron Technology, Inc. * | 25,119 | 1,264,490 |
MKS Instruments, Inc. | 303 | 32,842 |
ON Semiconductor Corp. * | 9,173 | 230,151 |
Qorvo, Inc. * | 2,571 | 327,442 |
Skyworks Solutions, Inc. | 3,764 | 531,815 |
Texas Instruments, Inc. | 10,410 | 1,505,182 |
10,714,969 | ||
Software & Services 3.3% | ||
2U, Inc. * | 1,026 | 37,808 |
Akamai Technologies, Inc. * | 633 | 60,211 |
Alliance Data Systems Corp. | 1,051 | 54,169 |
Amdocs Ltd. | 3,005 | 169,422 |
Aspen Technology, Inc. * | 103 | 11,310 |
Autodesk, Inc. * | 1,655 | 389,819 |
Automatic Data Processing, Inc. | 1,364 | 215,457 |
BigCommerce Holdings, Inc. * | 36 | 2,642 |
CACI International, Inc., Class A * | 467 | 97,384 |
CDK Global, Inc. | 2,391 | 103,052 |
Ceridian HCM Holding, Inc. * | 729 | 62,854 |
Citrix Systems, Inc. | 2,024 | 229,259 |
Cognizant Technology Solutions Corp., Class A | 11,330 | 809,189 |
Crowdstrike Holdings, Inc., Class A * | 935 | 115,790 |
Duck Creek Technologies, Inc. * | 60 | 2,602 |
Security | Number of Shares | Value ($) |
DXC Technology Co. | 5,689 | 104,791 |
Euronet Worldwide, Inc. * | 1,131 | 100,478 |
Fidelity National Information Services, Inc. | 13,945 | 1,737,408 |
FireEye, Inc. * | 3,841 | 53,159 |
Fiserv, Inc. * | 8,886 | 848,346 |
Genpact Ltd. | 2,573 | 88,434 |
Global Payments, Inc. | 6,722 | 1,060,328 |
Guidewire Software, Inc. * | 1,525 | 146,568 |
International Business Machines Corp. | 20,068 | 2,240,793 |
Jack Henry & Associates, Inc. | 374 | 55,446 |
Jamf Holding Corp. * | 235 | 7,661 |
Leidos Holdings, Inc. | 2,732 | 226,756 |
Manhattan Associates, Inc. * | 153 | 13,082 |
nCino, Inc. * | 55 | 3,879 |
Nuance Communications, Inc. * | 6,347 | 202,533 |
Oracle Corp. | 5,195 | 291,491 |
Paychex, Inc. | 1,515 | 124,609 |
Pegasystems, Inc. | 89 | 10,313 |
RealPage, Inc. * | 249 | 13,867 |
Sabre Corp. | 6,167 | 40,209 |
salesforce.com, Inc. * | 1,429 | 331,914 |
Science Applications International Corp. | 1,134 | 86,604 |
SolarWinds Corp. * | 1,045 | 21,349 |
SS&C Technologies Holdings, Inc. | 4,018 | 237,946 |
Synopsys, Inc. * | 242 | 51,754 |
Teradata Corp. * | 579 | 10,636 |
The Western Union Co. | 7,419 | 144,225 |
Twilio, Inc., Class A * | 519 | 144,785 |
VeriSign, Inc. * | 941 | 179,449 |
WEX, Inc. * | 908 | 114,907 |
11,054,688 | ||
Technology Hardware & Equipment 2.7% | ||
Amphenol Corp., Class A | 2,654 | 299,477 |
Arista Networks, Inc. * | 237 | 49,509 |
Arrow Electronics, Inc. * | 1,727 | 134,516 |
Avnet, Inc. | 2,203 | 54,348 |
Ciena Corp. * | 3,430 | 135,108 |
Cisco Systems, Inc. | 95,914 | 3,443,313 |
Coherent, Inc. * | 94 | 11,763 |
CommScope Holding Co., Inc. * | 4,073 | 36,250 |
Corning, Inc. | 16,918 | 540,868 |
Dell Technologies, Inc., Class C * | 5,336 | 321,547 |
Dolby Laboratories, Inc., Class A | 1,248 | 93,700 |
EchoStar Corp., Class A * | 1,079 | 24,990 |
F5 Networks, Inc. * | 1,380 | 183,457 |
FLIR Systems, Inc. | 2,940 | 101,989 |
Hewlett Packard Enterprise Co. | 29,129 | 251,675 |
HP, Inc. | 32,287 | 579,874 |
IPG Photonics Corp. * | 748 | 139,098 |
Jabil, Inc. | 2,680 | 88,815 |
Juniper Networks, Inc. | 7,438 | 146,677 |
Keysight Technologies, Inc. * | 2,803 | 293,951 |
Littelfuse, Inc. | 530 | 104,908 |
Lumentum Holdings, Inc. * | 1,506 | 124,531 |
Motorola Solutions, Inc. | 3,445 | 544,517 |
National Instruments Corp. | 2,897 | 90,618 |
NCR Corp. * | 2,849 | 57,892 |
NetApp, Inc. | 2,278 | 99,981 |
Pure Storage, Inc., Class A * | 2,317 | 37,304 |
SYNNEX Corp. | 933 | 122,820 |
Trimble, Inc. * | 5,628 | 270,876 |
Ubiquiti, Inc. | 36 | 6,682 |
ViaSat, Inc. * | 1,341 | 45,460 |
Vontier Corp. * | 2,684 | 77,138 |
Western Digital Corp. | 6,773 | 255,545 |
Security | Number of Shares | Value ($) |
Xerox Holdings Corp. | 4,057 | 70,511 |
Zebra Technologies Corp., Class A * | 101 | 28,648 |
8,868,356 | ||
Telecommunication Services 3.5% | ||
AT&T, Inc. | 161,063 | 4,351,922 |
CenturyLink, Inc. | 24,726 | 213,138 |
GCI Liberty, Inc., Class A * | 2,227 | 180,899 |
T-Mobile US, Inc. * | 12,419 | 1,360,750 |
Telephone & Data Systems, Inc. | 2,261 | 38,437 |
United States Cellular Corp. * | 323 | 9,406 |
Verizon Communications, Inc. | 93,583 | 5,333,295 |
11,487,847 | ||
Transportation 2.9% | ||
Alaska Air Group, Inc. | 2,688 | 101,848 |
AMERCO | 200 | 69,432 |
American Airlines Group, Inc. (b) | 11,413 | 128,739 |
C.H. Robinson Worldwide, Inc. | 2,528 | 223,551 |
Copa Holdings S.A., Class A | 704 | 34,693 |
CSX Corp. | 17,226 | 1,359,820 |
Delta Air Lines, Inc. | 14,394 | 441,032 |
Expeditors International of Washington, Inc. | 1,442 | 127,430 |
FedEx Corp. | 5,456 | 1,415,668 |
JB Hunt Transport Services, Inc. | 1,384 | 168,488 |
JetBlue Airways Corp. * | 6,186 | 74,046 |
Kansas City Southern | 2,139 | 376,764 |
Kirby Corp. * | 1,344 | 51,731 |
Knight-Swift Transportation Holdings, Inc. | 2,809 | 106,714 |
Landstar System, Inc. | 161 | 20,077 |
Lyft, Inc., Class A * | 5,462 | 124,697 |
Macquarie Infrastructure Corp. | 1,650 | 42,570 |
Norfolk Southern Corp. | 5,781 | 1,208,923 |
Old Dominion Freight Line, Inc. | 301 | 57,301 |
Ryder System, Inc. | 1,177 | 57,979 |
Schneider National, Inc., Class B | 1,324 | 29,207 |
Southwest Airlines Co. | 13,300 | 525,749 |
Uber Technologies, Inc. * | 7,181 | 239,917 |
Union Pacific Corp. | 7,515 | 1,331,583 |
United Airlines Holdings, Inc. * | 6,524 | 220,903 |
United Parcel Service, Inc., Class B | 5,416 | 850,908 |
XPO Logistics, Inc. * | 1,953 | 175,770 |
9,565,540 | ||
Utilities 6.3% | ||
Alliant Energy Corp. | 5,641 | 311,834 |
Ameren Corp. | 5,552 | 450,378 |
American Electric Power Co., Inc. | 11,205 | 1,007,666 |
American Water Works Co., Inc. | 4,085 | 614,833 |
Atmos Energy Corp. | 2,742 | 251,359 |
Avangrid, Inc. | 1,276 | 62,958 |
CenterPoint Energy, Inc. | 11,379 | 240,438 |
CMS Energy Corp. | 6,439 | 407,782 |
Consolidated Edison, Inc. | 7,555 | 592,992 |
Dominion Energy, Inc. | 18,933 | 1,521,077 |
DTE Energy Co. | 4,333 | 534,779 |
Duke Energy Corp. | 16,581 | 1,527,276 |
Edison International | 8,068 | 452,131 |
Entergy Corp. | 4,530 | 458,527 |
Essential Utilities, Inc. | 5,052 | 208,142 |
Evergy, Inc. | 5,112 | 282,182 |
Eversource Energy | 7,742 | 675,644 |
Exelon Corp. | 21,970 | 876,383 |
FirstEnergy Corp. | 12,228 | 363,416 |
Hawaiian Electric Industries, Inc. | 2,410 | 79,626 |
Security | Number of Shares | Value ($) |
IDACORP, Inc. | 1,134 | 99,486 |
MDU Resources Group, Inc. | 4,477 | 106,374 |
National Fuel Gas Co. | 1,957 | 78,202 |
NextEra Energy, Inc. | 44,212 | 3,236,761 |
NiSource, Inc. | 8,648 | 198,645 |
NRG Energy, Inc. | 3,574 | 113,010 |
OGE Energy Corp. | 4,494 | 138,280 |
PG&E Corp. * | 29,260 | 279,726 |
Pinnacle West Capital Corp. | 2,546 | 207,677 |
PPL Corp. | 17,382 | 478,005 |
Public Service Enterprise Group, Inc. | 11,397 | 662,736 |
Sempra Energy | 6,540 | 819,854 |
The AES Corp. | 14,935 | 291,233 |
The Southern Co. | 23,843 | 1,369,780 |
UGI Corp. | 4,666 | 150,898 |
Vistra Corp. | 11,029 | 191,574 |
WEC Energy Group, Inc. | 7,123 | 716,218 |
Xcel Energy, Inc. | 11,851 | 829,926 |
20,887,808 | ||
Total Common Stock | ||
(Cost $308,297,025) | 330,224,187 | |
Other Investment Companies 0.4% of net assets | ||
Equity Funds 0.1% | ||
iShares Russell 1000 Value ETF | 2,600 | 303,498 |
Money Market Fund 0.2% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 686,767 | 686,767 |
Securities Lending Collateral 0.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 356,750 | 356,750 |
Total Other Investment Companies | ||
(Cost $1,347,755) | 1,347,015 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 1000 Index, e-mini, expires 12/18/20 | 21 | 1,204,245 | (58,082) | |
S&P 500 Index, e-mini, expires 12/18/20 | 1 | 163,235 | (342) | |
Net Unrealized Depreciation | (58,424) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $349,151. |
(c) | The rate shown is the 7-day yield. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 99.4% of net assets | ||
Automobiles & Components 1.1% | ||
Aptiv plc | 16,414 | 1,583,787 |
BorgWarner, Inc. | 14,941 | 522,636 |
Ford Motor Co. | 239,016 | 1,847,594 |
Gentex Corp. | 15,050 | 416,433 |
Harley-Davidson, Inc. | 9,358 | 307,691 |
Lear Corp. | 3,672 | 443,614 |
Thor Industries, Inc. | 3,372 | 285,204 |
5,406,959 | ||
Banks 2.7% | ||
Associated Banc-Corp. | 9,273 | 126,947 |
Bank of Hawaii Corp. | 2,425 | 147,052 |
Bank OZK | 7,461 | 184,884 |
BOK Financial Corp. | 1,907 | 112,017 |
Citizens Financial Group, Inc. | 26,119 | 711,743 |
Comerica, Inc. | 8,544 | 388,837 |
Commerce Bancshares, Inc. | 6,169 | 384,020 |
Cullen/Frost Bankers, Inc. | 3,424 | 240,604 |
East West Bancorp, Inc. | 8,606 | 313,947 |
F.N.B. Corp. | 19,656 | 148,599 |
Fifth Third Bancorp | 43,587 | 1,012,090 |
First Citizens BancShares, Inc., Class A | 384 | 177,677 |
First Hawaiian, Inc. | 7,970 | 137,562 |
First Horizon National Corp. | 33,329 | 346,955 |
First Republic Bank | 10,437 | 1,316,523 |
Huntington Bancshares, Inc. | 61,908 | 646,319 |
KeyCorp | 59,542 | 772,855 |
M&T Bank Corp. | 7,848 | 812,896 |
MGIC Investment Corp. | 20,592 | 207,156 |
New York Community Bancorp, Inc. | 27,420 | 227,860 |
PacWest Bancorp | 7,174 | 138,028 |
People's United Financial, Inc. | 26,013 | 277,559 |
Pinnacle Financial Partners, Inc. | 4,520 | 206,971 |
Popular, Inc. | 5,057 | 213,405 |
Prosperity Bancshares, Inc. | 5,487 | 302,389 |
Regions Financial Corp. | 58,889 | 783,224 |
Signature Bank | 3,194 | 257,884 |
Sterling Bancorp | 11,885 | 159,021 |
SVB Financial Group * | 3,150 | 915,705 |
Synovus Financial Corp. | 8,956 | 232,856 |
TCF Financial Corp. | 9,198 | 250,278 |
TFS Financial Corp. | 2,928 | 45,999 |
Umpqua Holdings Corp. | 13,364 | 167,852 |
Webster Financial Corp. | 5,520 | 177,799 |
Western Alliance Bancorp | 5,951 | 245,181 |
Wintrust Financial Corp. | 3,519 | 173,240 |
Zions Bancorp NA | 9,914 | 319,925 |
13,283,859 | ||
Capital Goods 10.0% | ||
A.O. Smith Corp. | 8,138 | 420,653 |
Acuity Brands, Inc. | 2,406 | 214,471 |
AECOM * | 9,374 | 420,330 |
AGCO Corp. | 3,781 | 291,250 |
Security | Number of Shares | Value ($) |
Air Lease Corp. | 6,516 | 177,496 |
Allegion plc | 5,645 | 556,033 |
Allison Transmission Holdings, Inc. | 6,893 | 249,182 |
AMETEK, Inc. | 14,046 | 1,379,317 |
Armstrong World Industries, Inc. | 2,900 | 173,710 |
Axon Enterprise, Inc. * | 3,837 | 379,479 |
BWX Technologies, Inc. | 5,828 | 320,598 |
Carlisle Cos., Inc. | 3,315 | 410,629 |
Carrier Global Corp. | 53,224 | 1,777,149 |
Colfax Corp. * | 6,071 | 165,070 |
Crane Co. | 2,970 | 150,728 |
Cummins, Inc. | 9,034 | 1,986,486 |
Curtiss-Wright Corp. | 2,539 | 214,190 |
Donaldson Co., Inc. | 7,790 | 370,025 |
Dover Corp. | 8,802 | 974,469 |
Fastenal Co. | 35,088 | 1,516,854 |
Flowserve Corp. | 7,944 | 231,329 |
Fortive Corp. | 18,227 | 1,122,783 |
Fortune Brands Home & Security, Inc. | 8,438 | 682,381 |
Gates Industrial Corp. plc * | 2,685 | 29,804 |
Generac Holdings, Inc. * | 3,743 | 786,591 |
Graco, Inc. | 10,113 | 625,995 |
GrafTech International Ltd. | 4,040 | 27,270 |
HD Supply Holdings, Inc. * | 9,873 | 393,538 |
HEICO Corp. | 2,736 | 287,417 |
HEICO Corp., Class A | 4,763 | 445,341 |
Hexcel Corp. | 5,075 | 169,911 |
Howmet Aerospace, Inc. | 24,203 | 417,502 |
Hubbell, Inc. | 3,309 | 481,493 |
Huntington Ingalls Industries, Inc. | 2,429 | 358,229 |
IDEX Corp. | 4,614 | 786,179 |
Ingersoll Rand, Inc. * | 21,228 | 741,706 |
ITT, Inc. | 5,310 | 321,308 |
Jacobs Engineering Group, Inc. | 7,671 | 728,745 |
Johnson Controls International plc | 45,656 | 1,927,140 |
Lennox International, Inc. | 2,118 | 575,376 |
Lincoln Electric Holdings, Inc. | 3,505 | 356,879 |
Masco Corp. | 16,104 | 863,174 |
Mercury Systems, Inc. * | 3,345 | 230,404 |
MSC Industrial Direct Co., Inc., Class A | 2,731 | 190,241 |
Nordson Corp. | 3,518 | 680,487 |
nVent Electric plc | 9,497 | 171,421 |
Oshkosh Corp. | 4,160 | 280,218 |
Otis Worldwide Corp. | 25,009 | 1,532,552 |
Owens Corning | 6,554 | 429,090 |
PACCAR, Inc. | 20,786 | 1,774,709 |
Parker-Hannifin Corp. | 7,845 | 1,634,584 |
Pentair plc | 10,114 | 503,273 |
Quanta Services, Inc. | 8,379 | 523,101 |
Regal Beloit Corp. | 2,470 | 243,666 |
Rockwell Automation, Inc. | 7,104 | 1,684,500 |
Sensata Technologies Holding plc * | 9,463 | 413,628 |
Snap-on, Inc. | 3,295 | 519,061 |
Spirit AeroSystems Holdings, Inc., Class A | 6,453 | 117,380 |
Stanley Black & Decker, Inc. | 9,449 | 1,570,424 |
Teledyne Technologies, Inc. * | 2,220 | 686,313 |
Textron, Inc. | 13,952 | 499,482 |
The AZEK Co., Inc. * | 2,454 | 82,062 |
The Middleby Corp. * | 3,383 | 336,744 |
The Timken Co. | 3,879 | 231,576 |
Security | Number of Shares | Value ($) |
The Toro Co. | 6,546 | 537,427 |
Trane Technologies plc | 14,641 | 1,943,593 |
TransDigm Group, Inc. | 3,200 | 1,527,712 |
Trex Co., Inc. * | 7,076 | 492,065 |
Trinity Industries, Inc. | 5,537 | 104,317 |
United Rentals, Inc. * | 4,411 | 786,437 |
Univar Solutions, Inc. * | 10,202 | 169,251 |
Valmont Industries, Inc. | 1,274 | 180,844 |
Vertiv Holdings Co. * | 13,409 | 236,669 |
Virgin Galactic Holdings, Inc. *(a) | 4,083 | 71,126 |
W.W. Grainger, Inc. | 2,727 | 954,505 |
Watsco, Inc. | 1,995 | 447,159 |
Westinghouse Air Brake Technologies Corp. | 11,085 | 657,340 |
Woodward, Inc. | 3,412 | 271,425 |
Xylem, Inc. | 10,957 | 954,793 |
48,177,789 | ||
Commercial & Professional Services 3.2% | ||
ADT, Inc. | 9,415 | 62,045 |
Cintas Corp. | 5,409 | 1,701,401 |
Clean Harbors, Inc. * | 3,152 | 166,961 |
Copart, Inc. * | 12,447 | 1,373,651 |
CoreLogic, Inc. | 4,850 | 373,111 |
CoStar Group, Inc. * | 2,389 | 1,967,604 |
Dun & Bradstreet Holdings, Inc. * | 5,236 | 135,298 |
Equifax, Inc. | 7,412 | 1,012,479 |
FTI Consulting, Inc. * | 2,197 | 216,317 |
IAA, Inc. * | 8,231 | 465,792 |
IHS Markit Ltd. | 24,325 | 1,967,163 |
ManpowerGroup, Inc. | 3,544 | 240,531 |
MSA Safety, Inc. | 2,228 | 293,918 |
Nielsen Holdings plc | 21,851 | 295,207 |
Republic Services, Inc. | 12,865 | 1,134,307 |
Robert Half International, Inc. | 6,855 | 347,480 |
Rollins, Inc. | 9,084 | 525,509 |
Stericycle, Inc. * | 5,601 | 348,942 |
TransUnion | 11,639 | 927,163 |
Verisk Analytics, Inc. | 9,718 | 1,729,513 |
15,284,392 | ||
Consumer Durables & Apparel 3.2% | ||
Brunswick Corp. | 4,849 | 308,930 |
Capri Holdings Ltd. * | 8,733 | 185,314 |
Carter's, Inc. | 2,639 | 214,947 |
Columbia Sportswear Co. | 1,756 | 130,980 |
D.R. Horton, Inc. | 20,258 | 1,353,437 |
Garmin Ltd. | 9,165 | 953,343 |
Hanesbrands, Inc. | 21,289 | 342,114 |
Hasbro, Inc. | 7,791 | 644,472 |
Leggett & Platt, Inc. | 8,059 | 336,302 |
Lennar Corp., Class A | 16,585 | 1,164,765 |
Lennar Corp., Class B | 957 | 54,444 |
Lululemon Athletica, Inc. * | 6,963 | 2,223,216 |
Mattel, Inc. * | 20,964 | 288,674 |
Mohawk Industries, Inc. * | 3,567 | 368,079 |
Newell Brands, Inc. | 23,544 | 415,787 |
NVR, Inc. * | 205 | 810,383 |
Peloton Interactive, Inc., Class A * | 5,990 | 660,158 |
Polaris, Inc. | 3,569 | 324,279 |
PulteGroup, Inc. | 16,385 | 667,853 |
PVH Corp. | 4,319 | 251,754 |
Ralph Lauren Corp. | 2,871 | 191,926 |
Skechers U.S.A., Inc., Class A * | 8,175 | 259,229 |
Tapestry, Inc. | 16,898 | 375,643 |
Tempur Sealy International, Inc. * | 2,881 | 256,409 |
Toll Brothers, Inc. | 7,104 | 300,357 |
Security | Number of Shares | Value ($) |
Under Armour, Inc., Class A * | 11,539 | 159,700 |
Under Armour, Inc., Class C * | 12,058 | 147,469 |
VF Corp. | 19,758 | 1,327,738 |
Whirlpool Corp. | 3,737 | 691,196 |
15,408,898 | ||
Consumer Services 3.0% | ||
Aramark | 14,007 | 388,554 |
Bright Horizons Family Solutions, Inc. * | 3,668 | 579,728 |
Carnival Corp. | 28,844 | 395,451 |
Chegg, Inc. * | 7,418 | 544,778 |
Chipotle Mexican Grill, Inc. * | 1,707 | 2,050,926 |
Choice Hotels International, Inc. | 2,132 | 186,230 |
Darden Restaurants, Inc. | 7,966 | 732,235 |
Domino's Pizza, Inc. | 2,387 | 903,050 |
Dunkin' Brands Group, Inc. | 5,030 | 501,541 |
Extended Stay America, Inc. | 10,841 | 123,045 |
frontdoor, Inc. * | 5,216 | 206,658 |
Graham Holdings Co., Class B | 245 | 93,183 |
Grand Canyon Education, Inc. * | 2,856 | 223,825 |
H&R Block, Inc. | 11,778 | 203,288 |
Hilton Worldwide Holdings, Inc. | 16,725 | 1,468,622 |
Hyatt Hotels Corp., Class A | 2,133 | 117,614 |
MGM Resorts International | 28,830 | 593,033 |
Norwegian Cruise Line Holdings Ltd. * | 16,781 | 279,068 |
Planet Fitness, Inc., Class A * | 4,925 | 291,905 |
Royal Caribbean Cruises Ltd. | 10,757 | 606,910 |
Service Corp. International | 10,549 | 488,524 |
Six Flags Entertainment Corp. | 4,628 | 100,057 |
Terminix Global Holdings, Inc. * | 8,119 | 382,324 |
The Wendy's Co. | 10,977 | 239,848 |
Vail Resorts, Inc. | 2,447 | 567,802 |
Wyndham Destinations, Inc. | 5,180 | 169,024 |
Wyndham Hotels & Resorts, Inc. | 5,628 | 261,758 |
Wynn Resorts Ltd. | 5,997 | 434,363 |
Yum China Holdings, Inc. | 24,544 | 1,306,477 |
14,439,821 | ||
Diversified Financials 4.6% | ||
Affiliated Managers Group, Inc. | 2,818 | 212,393 |
AGNC Investment Corp. | 34,054 | 475,734 |
Ally Financial, Inc. | 22,898 | 610,919 |
Ameriprise Financial, Inc. | 7,370 | 1,185,317 |
Annaly Capital Management, Inc. | 86,043 | 610,045 |
Apollo Global Management, Inc. | 10,447 | 385,076 |
Ares Management Corp., Class A | 6,037 | 255,365 |
Cboe Global Markets, Inc. | 6,706 | 545,131 |
Credit Acceptance Corp. * | 599 | 178,574 |
Discover Financial Services | 18,777 | 1,220,693 |
Eaton Vance Corp. | 6,778 | 405,257 |
Equitable Holdings, Inc. | 24,915 | 535,423 |
Evercore, Inc., Class A | 2,426 | 192,964 |
FactSet Research Systems, Inc. | 2,274 | 696,981 |
Franklin Resources, Inc. | 16,626 | 311,737 |
Interactive Brokers Group, Inc., Class A | 4,473 | 212,781 |
Invesco Ltd. | 23,037 | 302,015 |
Jefferies Financial Group, Inc. | 13,832 | 269,862 |
KKR & Co., Inc. | 32,642 | 1,114,724 |
Lazard Ltd., Class A | 6,167 | 207,643 |
LendingTree, Inc. * | 480 | 155,323 |
LPL Financial Holdings, Inc. | 4,810 | 384,463 |
MarketAxess Holdings, Inc. | 2,259 | 1,217,262 |
Morningstar, Inc. | 1,328 | 252,825 |
MSCI, Inc. | 4,990 | 1,745,702 |
Nasdaq, Inc. | 7,009 | 848,019 |
New Residential Investment Corp. | 25,412 | 190,590 |
Security | Number of Shares | Value ($) |
Northern Trust Corp. | 11,769 | 921,160 |
OneMain Holdings, Inc. | 3,955 | 137,990 |
Raymond James Financial, Inc. | 7,519 | 574,752 |
Santander Consumer USA Holdings, Inc. | 4,527 | 92,079 |
SEI Investments Co. | 7,068 | 347,392 |
SLM Corp. | 23,057 | 211,894 |
Starwood Property Trust, Inc. | 16,719 | 233,564 |
State Street Corp. | 21,573 | 1,270,650 |
Synchrony Financial | 35,734 | 894,065 |
T. Rowe Price Group, Inc. | 13,864 | 1,756,014 |
The Carlyle Group, Inc. | 7,139 | 177,904 |
Tradeweb Markets, Inc., Class A | 5,146 | 280,354 |
Virtu Financial, Inc., Class A | 3,861 | 82,548 |
Voya Financial, Inc. | 7,701 | 369,109 |
22,072,293 | ||
Energy 2.2% | ||
Antero Midstream Corp. | 17,700 | 101,421 |
Apache Corp. | 23,223 | 192,751 |
Baker Hughes Co. | 40,224 | 594,108 |
Cabot Oil & Gas Corp. | 23,968 | 426,391 |
Cheniere Energy, Inc. * | 14,166 | 678,126 |
Cimarex Energy Co. | 6,118 | 155,214 |
Concho Resources, Inc. | 11,951 | 496,086 |
Continental Resources, Inc. | 4,581 | 55,109 |
Devon Energy Corp. | 23,389 | 208,864 |
Diamondback Energy, Inc. | 9,678 | 251,241 |
EQT Corp. | 15,691 | 237,562 |
Equitrans Midstream Corp. | 24,912 | 180,861 |
Halliburton Co. | 53,643 | 646,935 |
Helmerich & Payne, Inc. | 6,395 | 95,094 |
Hess Corp. | 16,814 | 625,817 |
HollyFrontier Corp. | 9,138 | 169,144 |
Marathon Oil Corp. | 48,480 | 191,981 |
Marathon Petroleum Corp. | 39,654 | 1,169,793 |
Murphy Oil Corp. | 8,919 | 68,855 |
National Oilwell Varco, Inc. | 23,652 | 198,677 |
Occidental Petroleum Corp. | 51,467 | 469,894 |
ONEOK, Inc. | 26,870 | 779,230 |
Parsley Energy, Inc., Class A | 18,500 | 185,185 |
Pioneer Natural Resources Co. | 10,054 | 799,896 |
Targa Resources Corp. | 14,127 | 226,738 |
The Williams Cos., Inc. | 74,503 | 1,429,712 |
WPX Energy, Inc. * | 24,794 | 114,300 |
10,748,985 | ||
Food & Staples Retailing 0.5% | ||
Albertsons Cos., Inc., Class A *(a) | 2,809 | 41,264 |
Casey's General Stores, Inc. | 2,259 | 380,800 |
Grocery Outlet Holding Corp. * | 4,318 | 190,078 |
Sprouts Farmers Market, Inc. * | 7,213 | 137,408 |
The Kroger Co. | 47,452 | 1,528,429 |
U.S. Foods Holding Corp. * | 13,498 | 282,108 |
2,560,087 | ||
Food, Beverage & Tobacco 2.9% | ||
Archer-Daniels-Midland Co. | 33,946 | 1,569,663 |
Beyond Meat, Inc. * | 3,156 | 449,509 |
Brown-Forman Corp., Class A | 2,766 | 173,567 |
Brown-Forman Corp., Class B | 11,066 | 771,411 |
Bunge Ltd. | 8,319 | 471,937 |
Campbell Soup Co. | 10,751 | 501,749 |
Conagra Brands, Inc. | 29,869 | 1,048,103 |
Flowers Foods, Inc. | 11,941 | 281,569 |
Hormel Foods Corp. | 17,092 | 832,209 |
Security | Number of Shares | Value ($) |
Ingredion, Inc. | 4,119 | 291,996 |
Kellogg Co. | 15,375 | 966,934 |
Lamb Weston Holdings, Inc. | 8,936 | 566,989 |
McCormick & Co., Inc. - Non Voting Shares | 7,597 | 1,371,334 |
Molson Coors Beverage Co., Class B | 10,705 | 377,458 |
Pilgrim's Pride Corp. * | 3,176 | 53,166 |
Post Holdings, Inc. * | 3,910 | 335,869 |
Seaboard Corp. | 16 | 55,120 |
The Boston Beer Co., Inc., Class A * | 545 | 566,353 |
The Hain Celestial Group, Inc. * | 4,954 | 152,336 |
The Hershey Co. | 9,037 | 1,242,226 |
The JM Smucker Co. | 6,765 | 759,033 |
TreeHouse Foods, Inc. * | 3,467 | 134,658 |
Tyson Foods, Inc., Class A | 17,616 | 1,008,164 |
13,981,353 | ||
Health Care Equipment & Services 7.3% | ||
ABIOMED, Inc. * | 2,712 | 683,099 |
Acadia Healthcare Co., Inc. * | 5,418 | 193,152 |
Align Technology, Inc. * | 4,784 | 2,038,367 |
Amedisys, Inc. * | 1,932 | 500,388 |
AmerisourceBergen Corp. | 8,929 | 857,809 |
Cardinal Health, Inc. | 17,924 | 820,740 |
Cerner Corp. | 18,646 | 1,306,898 |
Change Healthcare, Inc. * | 14,808 | 209,533 |
Chemed Corp. | 948 | 453,447 |
DaVita, Inc. * | 5,083 | 438,409 |
DENTSPLY SIRONA, Inc. | 13,389 | 631,827 |
Encompass Health Corp. | 6,041 | 370,374 |
Envista Holdings Corp. * | 9,725 | 256,935 |
Globus Medical, Inc., Class A * | 4,522 | 235,687 |
Guardant Health, Inc. * | 5,031 | 536,606 |
Haemonetics Corp. * | 3,060 | 309,335 |
Henry Schein, Inc. * | 8,732 | 555,181 |
Hill-Rom Holdings, Inc. | 4,092 | 372,658 |
Hologic, Inc. * | 15,710 | 1,081,162 |
ICU Medical, Inc. * | 1,185 | 210,681 |
IDEXX Laboratories, Inc. * | 5,155 | 2,189,947 |
Insulet Corp. * | 4,018 | 893,001 |
Integra LifeSciences Holdings Corp. * | 4,389 | 193,555 |
Laboratory Corp. of America Holdings * | 5,942 | 1,187,033 |
Livongo Health, Inc. *(b) | 3,386 | 408,163 |
Masimo Corp. * | 2,993 | 669,893 |
McKesson Corp. | 9,902 | 1,460,446 |
Molina Healthcare, Inc. * | 3,600 | 671,292 |
Novocure Ltd. * | 6,088 | 743,345 |
Oak Street Health, Inc. * | 1,053 | 50,112 |
Penumbra, Inc. * | 2,022 | 527,803 |
Premier, Inc., Class A | 3,774 | 123,523 |
Quest Diagnostics, Inc. | 8,190 | 1,000,327 |
Quidel Corp. * | 2,276 | 610,628 |
ResMed, Inc. | 8,783 | 1,685,809 |
STERIS plc | 5,149 | 912,351 |
Tandem Diabetes Care, Inc. * | 3,634 | 396,106 |
Teladoc Health, Inc. * | 4,393 | 863,049 |
Teleflex, Inc. | 2,845 | 905,364 |
The Cooper Cos., Inc. | 2,984 | 952,045 |
Universal Health Services, Inc., Class B | 4,510 | 494,071 |
Varian Medical Systems, Inc. * | 5,558 | 960,422 |
Veeva Systems, Inc., Class A * | 8,187 | 2,210,899 |
West Pharmaceutical Services, Inc. | 4,497 | 1,223,499 |
Zimmer Biomet Holdings, Inc. | 12,695 | 1,677,009 |
35,071,980 | ||
Security | Number of Shares | Value ($) |
Household & Personal Products 0.8% | ||
Church & Dwight Co., Inc. | 15,066 | 1,331,684 |
Coty, Inc., Class A | 17,736 | 51,434 |
Energizer Holdings, Inc. | 3,792 | 149,215 |
Herbalife Nutrition Ltd. * | 5,482 | 247,458 |
Nu Skin Enterprises, Inc., Class A | 3,157 | 155,798 |
Reynolds Consumer Products, Inc. | 2,967 | 83,788 |
Spectrum Brands Holdings, Inc. | 2,605 | 148,146 |
The Clorox Co. | 7,732 | 1,602,457 |
3,769,980 | ||
Insurance 3.4% | ||
Alleghany Corp. | 852 | 465,984 |
American Financial Group, Inc. | 4,466 | 334,682 |
American National Group, Inc. | 447 | 30,754 |
Arch Capital Group Ltd. * | 24,087 | 727,668 |
Arthur J. Gallagher & Co. | 11,533 | 1,196,087 |
Assurant, Inc. | 3,656 | 454,697 |
Assured Guaranty Ltd. | 4,922 | 125,659 |
Athene Holding Ltd., Class A * | 7,060 | 226,485 |
Axis Capital Holdings Ltd. | 5,104 | 217,890 |
Brighthouse Financial, Inc. * | 5,666 | 187,545 |
Brown & Brown, Inc. | 14,433 | 627,980 |
Cincinnati Financial Corp. | 9,172 | 648,827 |
CNA Financial Corp. | 1,691 | 50,375 |
Erie Indemnity Co., Class A | 1,540 | 358,620 |
Everest Re Group Ltd. | 2,415 | 475,948 |
Fidelity National Financial, Inc. | 16,834 | 526,736 |
First American Financial Corp. | 6,662 | 297,059 |
Globe Life, Inc. | 6,425 | 521,003 |
GoHealth, Inc., Class A * | 2,535 | 26,263 |
Kemper Corp. | 3,801 | 234,370 |
Lemonade, Inc. *(a) | 776 | 39,025 |
Lincoln National Corp. | 11,773 | 413,232 |
Loews Corp. | 14,672 | 508,825 |
Markel Corp. * | 828 | 772,358 |
Mercury General Corp. | 1,659 | 67,538 |
Old Republic International Corp. | 17,416 | 283,533 |
Primerica, Inc. | 2,397 | 264,245 |
Principal Financial Group, Inc. | 16,641 | 652,660 |
Prudential Financial, Inc. | 24,257 | 1,552,933 |
Reinsurance Group of America, Inc. | 4,154 | 419,637 |
RenaissanceRe Holdings Ltd. | 3,100 | 501,332 |
The Hanover Insurance Group, Inc. | 2,309 | 220,879 |
The Hartford Financial Services Group, Inc. | 21,907 | 843,858 |
Unum Group | 12,393 | 218,860 |
W.R. Berkley Corp. | 8,528 | 512,703 |
White Mountains Insurance Group Ltd. | 186 | 168,949 |
Willis Towers Watson plc | 7,884 | 1,438,672 |
16,613,871 | ||
Materials 5.5% | ||
Albemarle Corp. | 6,464 | 602,509 |
Amcor plc | 96,560 | 1,007,121 |
AptarGroup, Inc. | 3,938 | 449,286 |
Ardagh Group S.A. | 1,162 | 19,150 |
Ashland Global Holdings, Inc. | 3,386 | 236,241 |
Avery Dennison Corp. | 5,097 | 705,374 |
Axalta Coating Systems Ltd. * | 12,943 | 324,999 |
Ball Corp. | 19,548 | 1,739,772 |
Berry Global Group, Inc. * | 8,148 | 379,941 |
Cabot Corp. | 3,416 | 129,842 |
Celanese Corp. | 7,214 | 818,861 |
CF Industries Holdings, Inc. | 13,106 | 361,857 |
Corteva, Inc. | 45,972 | 1,516,157 |
Security | Number of Shares | Value ($) |
Crown Holdings, Inc. * | 7,938 | 681,080 |
Eagle Materials, Inc. | 2,532 | 215,853 |
Eastman Chemical Co. | 8,305 | 671,376 |
Element Solutions, Inc. * | 13,357 | 156,544 |
FMC Corp. | 7,932 | 814,934 |
Freeport-McMoRan, Inc. | 88,849 | 1,540,642 |
Graphic Packaging Holding Co. | 16,989 | 225,784 |
Huntsman Corp. | 12,249 | 297,528 |
International Flavors & Fragrances, Inc. (a) | 6,553 | 672,731 |
International Paper Co. | 24,096 | 1,054,200 |
LyondellBasell Industries N.V., Class A | 15,714 | 1,075,623 |
Martin Marietta Materials, Inc. | 3,807 | 1,013,994 |
NewMarket Corp. | 419 | 149,872 |
Nucor Corp. | 18,459 | 881,602 |
Olin Corp. | 8,794 | 145,541 |
Packaging Corp. of America | 5,738 | 656,944 |
PPG Industries, Inc. | 14,456 | 1,875,232 |
Reliance Steel & Aluminum Co. | 3,886 | 423,535 |
Royal Gold, Inc. | 4,014 | 476,903 |
RPM International, Inc. | 7,827 | 662,712 |
Sealed Air Corp. | 9,536 | 377,530 |
Silgan Holdings, Inc. | 4,805 | 165,532 |
Sonoco Products Co. | 6,130 | 299,696 |
Steel Dynamics, Inc. | 12,302 | 387,267 |
The Chemours Co. | 9,982 | 201,038 |
The Mosaic Co. | 21,190 | 392,015 |
The Scotts Miracle-Gro Co. | 2,485 | 372,874 |
Valvoline, Inc. | 11,322 | 222,704 |
Vulcan Materials Co. | 8,097 | 1,172,770 |
W.R. Grace & Co. | 3,419 | 148,692 |
Westlake Chemical Corp. | 2,072 | 140,109 |
WestRock Co. | 15,718 | 590,211 |
26,454,178 | ||
Media & Entertainment 4.3% | ||
Altice USA, Inc., Class A * | 18,725 | 504,639 |
Cable One, Inc. | 327 | 566,318 |
Discovery, Inc., Class A * | 9,554 | 193,373 |
Discovery, Inc., Class C * | 19,946 | 365,411 |
DISH Network Corp., Class A * | 15,056 | 383,777 |
Fox Corp., Class A | 20,821 | 552,173 |
Fox Corp., Class B | 9,755 | 254,996 |
IAC/InterActiveCorp * | 4,595 | 554,708 |
John Wiley & Sons, Inc., Class A | 2,614 | 80,929 |
Liberty Broadband Corp., Class A * | 1,515 | 212,933 |
Liberty Broadband Corp., Class C * | 6,431 | 911,337 |
Liberty Media Corp. - Liberty Formula One, Class A * | 1,524 | 50,749 |
Liberty Media Corp. - Liberty Formula One, Class C * | 12,140 | 438,618 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 5,082 | 175,685 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 10,626 | 367,660 |
Lions Gate Entertainment Corp., Class A * | 3,530 | 23,651 |
Lions Gate Entertainment Corp., Class B * | 7,024 | 44,041 |
Live Nation Entertainment, Inc. * | 8,687 | 423,926 |
Madison Square Garden Entertainment Corp. * | 1,150 | 74,750 |
Madison Square Garden Sports Corp. * | 1,148 | 162,603 |
Match Group, Inc. * | 13,413 | 1,566,370 |
News Corp., Class A | 23,765 | 312,034 |
News Corp., Class B | 7,417 | 96,569 |
Nexstar Media Group, Inc., Class A | 2,671 | 220,090 |
Omnicom Group, Inc. | 13,028 | 614,922 |
Pinterest, Inc., Class A * | 24,617 | 1,451,172 |
Security | Number of Shares | Value ($) |
Roku, Inc. * | 6,485 | 1,312,564 |
Sirius XM Holdings, Inc. | 72,348 | 414,554 |
Spotify Technology S.A. * | 8,023 | 1,924,637 |
Take-Two Interactive Software, Inc. * | 6,888 | 1,067,089 |
The Interpublic Group of Cos., Inc. | 23,841 | 431,284 |
The New York Times Co., Class A | 9,950 | 394,617 |
TripAdvisor, Inc. | 6,160 | 117,718 |
Twitter, Inc. * | 47,139 | 1,949,669 |
ViacomCBS, Inc., Class B | 33,949 | 969,923 |
World Wrestling Entertainment, Inc., Class A | 2,812 | 102,244 |
Zillow Group, Inc., Class A * | 3,524 | 314,799 |
Zillow Group, Inc., Class C * | 8,597 | 761,866 |
Zynga, Inc., Class A * | 54,349 | 488,598 |
20,852,996 | ||
Pharmaceuticals, Biotechnology & Life Sciences 6.0% | ||
10X Genomics, Inc., Class A * | 3,518 | 481,614 |
ACADIA Pharmaceuticals, Inc. * | 6,807 | 316,185 |
Acceleron Pharma, Inc. * | 3,155 | 329,950 |
Adaptive Biotechnologies Corp. * | 4,647 | 214,134 |
Agilent Technologies, Inc. | 18,958 | 1,935,422 |
Agios Pharmaceuticals, Inc. * | 3,754 | 150,423 |
Alexion Pharmaceuticals, Inc. * | 13,037 | 1,501,080 |
Alkermes plc * | 9,639 | 156,634 |
Alnylam Pharmaceuticals, Inc. * | 7,073 | 869,767 |
Avantor, Inc. * | 27,420 | 638,063 |
Berkeley Lights, Inc. * | 571 | 41,437 |
Bio-Rad Laboratories, Inc., Class A * | 1,294 | 758,828 |
Bio-Techne Corp. | 2,327 | 587,358 |
BioMarin Pharmaceutical, Inc. * | 11,066 | 823,642 |
Bluebird Bio, Inc. * | 4,032 | 208,495 |
Bruker Corp. | 6,325 | 269,066 |
Catalent, Inc. * | 9,955 | 873,750 |
Charles River Laboratories International, Inc. * | 2,992 | 681,278 |
Elanco Animal Health, Inc. * | 24,488 | 759,373 |
Exact Sciences Corp. * | 9,107 | 1,127,720 |
Exelixis, Inc. * | 18,634 | 381,624 |
Global Blood Therapeutics, Inc. * | 3,582 | 189,416 |
Horizon Therapeutics plc * | 11,950 | 895,414 |
Incyte Corp. * | 11,158 | 966,729 |
Ionis Pharmaceuticals, Inc. * | 8,019 | 376,492 |
Iovance Biotherapeutics, Inc. * | 8,469 | 302,174 |
IQVIA Holdings, Inc. * | 11,651 | 1,794,138 |
Jazz Pharmaceuticals plc * | 3,314 | 477,547 |
Mettler-Toledo International, Inc. * | 1,445 | 1,441,980 |
Moderna, Inc. * | 17,496 | 1,180,455 |
Mylan N.V. * | 31,594 | 459,377 |
Nektar Therapeutics * | 10,590 | 167,746 |
Neurocrine Biosciences, Inc. * | 5,635 | 556,005 |
PerkinElmer, Inc. | 6,818 | 883,272 |
Perrigo Co., plc | 8,349 | 366,271 |
PPD, Inc. * | 9,809 | 322,520 |
PRA Health Sciences, Inc. * | 3,873 | 377,385 |
QIAGEN N.V. * | 13,775 | 653,486 |
Reata Pharmaceuticals, Inc., Class A * | 1,466 | 171,097 |
Repligen Corp. * | 3,199 | 532,857 |
Royalty Pharma plc, Class A | 6,253 | 229,485 |
Sage Therapeutics, Inc. * | 3,148 | 231,000 |
Sarepta Therapeutics, Inc. * | 4,560 | 619,750 |
Seagen, Inc. * | 7,456 | 1,243,661 |
Syneos Health, Inc. * | 4,249 | 225,537 |
United Therapeutics Corp. * | 2,665 | 357,723 |
Waters Corp. * | 3,748 | 835,129 |
28,962,489 | ||
Security | Number of Shares | Value ($) |
Real Estate 6.9% | ||
Alexandria Real Estate Equities, Inc. | 7,674 | 1,162,764 |
American Campus Communities, Inc. | 8,400 | 314,664 |
American Homes 4 Rent, Class A | 15,903 | 449,578 |
Americold Realty Trust | 12,482 | 452,223 |
Apartment Investment & Management Co., Class A | 9,074 | 289,461 |
Apple Hospitality REIT, Inc. | 12,824 | 126,958 |
AvalonBay Communities, Inc. | 8,625 | 1,199,996 |
Boston Properties, Inc. | 9,533 | 690,285 |
Brandywine Realty Trust | 10,269 | 89,956 |
Brixmor Property Group, Inc. | 18,030 | 197,609 |
Brookfield Property REIT, Inc., Class A (a) | 2,802 | 41,330 |
Camden Property Trust | 5,779 | 533,055 |
CBRE Group, Inc., Class A * | 20,443 | 1,030,327 |
CoreSite Realty Corp. | 2,470 | 294,819 |
Corporate Office Properties Trust | 6,846 | 153,556 |
Cousins Properties, Inc. | 9,069 | 231,078 |
CubeSmart | 11,843 | 401,833 |
CyrusOne, Inc. | 7,146 | 507,723 |
Douglas Emmett, Inc. | 10,141 | 239,328 |
Duke Realty Corp. | 22,578 | 857,738 |
Empire State Realty Trust, Inc., Class A | 8,700 | 46,806 |
EPR Properties | 4,514 | 107,614 |
Equity Commonwealth | 7,102 | 187,635 |
Equity LifeStyle Properties, Inc. | 10,652 | 630,492 |
Equity Residential | 22,529 | 1,058,412 |
Essex Property Trust, Inc. | 3,997 | 817,746 |
Extra Space Storage, Inc. | 7,726 | 895,830 |
Federal Realty Investment Trust | 4,624 | 318,039 |
First Industrial Realty Trust, Inc. | 7,699 | 306,497 |
Gaming & Leisure Properties, Inc. | 12,707 | 461,899 |
Healthcare Trust of America, Inc., Class A | 13,326 | 323,822 |
Healthpeak Properties, Inc. | 33,050 | 891,358 |
Highwoods Properties, Inc. | 6,279 | 186,926 |
Host Hotels & Resorts, Inc. | 42,833 | 448,890 |
Hudson Pacific Properties, Inc. | 9,142 | 176,075 |
Invitation Homes, Inc. | 34,381 | 937,226 |
Iron Mountain, Inc. | 17,526 | 456,728 |
JBG SMITH Properties | 7,402 | 172,837 |
Jones Lang LaSalle, Inc. | 3,152 | 355,735 |
Kilroy Realty Corp. | 7,008 | 329,937 |
Kimco Realty Corp. | 25,190 | 258,449 |
Lamar Advertising Co., Class A | 5,278 | 327,025 |
Life Storage, Inc. | 2,860 | 326,469 |
Medical Properties Trust, Inc. | 31,864 | 567,816 |
Mid-America Apartment Communities, Inc. | 6,978 | 813,844 |
National Retail Properties, Inc. | 10,519 | 336,713 |
Omega Healthcare Investors, Inc. | 13,748 | 396,080 |
Outfront Media, Inc. | 8,824 | 115,683 |
Paramount Group, Inc. | 11,589 | 66,984 |
Park Hotels & Resorts, Inc. | 14,337 | 142,366 |
Rayonier, Inc. | 8,043 | 204,131 |
Realty Income Corp. | 21,079 | 1,219,631 |
Regency Centers Corp. | 10,344 | 368,143 |
Rexford Industrial Realty, Inc. | 7,586 | 352,446 |
Simon Property Group, Inc. | 18,647 | 1,171,218 |
SL Green Realty Corp. | 4,453 | 190,633 |
Spirit Realty Capital, Inc. | 6,261 | 188,143 |
STORE Capital Corp. | 14,300 | 367,510 |
Sun Communities, Inc. | 5,922 | 815,045 |
Taubman Centers, Inc. | 3,688 | 123,253 |
The Howard Hughes Corp. * | 2,393 | 148,821 |
UDR, Inc. | 17,947 | 560,664 |
Ventas, Inc. | 22,871 | 902,718 |
VEREIT, Inc. | 66,004 | 409,225 |
VICI Properties, Inc. | 32,755 | 751,727 |
Security | Number of Shares | Value ($) |
Vornado Realty Trust | 10,762 | 330,716 |
Weingarten Realty Investors | 7,426 | 117,776 |
Welltower, Inc. | 25,627 | 1,377,964 |
Weyerhaeuser Co. | 45,778 | 1,249,282 |
WP Carey, Inc. | 10,484 | 656,403 |
33,231,663 | ||
Retailing 4.3% | ||
Advance Auto Parts, Inc. | 4,080 | 600,902 |
AutoNation, Inc. * | 3,496 | 198,328 |
AutoZone, Inc. * | 1,431 | 1,615,570 |
Best Buy Co., Inc. | 13,987 | 1,560,250 |
Burlington Stores, Inc. * | 3,981 | 770,642 |
CarMax, Inc. * | 9,966 | 861,461 |
Carvana Co. * | 3,348 | 620,552 |
Dick's Sporting Goods, Inc. | 3,766 | 213,344 |
Dollar Tree, Inc. * | 14,384 | 1,299,163 |
Etsy, Inc. * | 7,231 | 879,217 |
Expedia Group, Inc. | 8,282 | 779,750 |
Five Below, Inc. * | 3,336 | 444,822 |
Floor & Decor Holdings, Inc., Class A * | 5,753 | 419,969 |
Foot Locker, Inc. | 6,335 | 233,635 |
Genuine Parts Co. | 8,608 | 778,421 |
GrubHub, Inc. * | 5,636 | 416,839 |
Kohl's Corp. | 9,597 | 204,320 |
L Brands, Inc. | 14,016 | 448,652 |
LKQ Corp. * | 18,550 | 593,414 |
Nordstrom, Inc. (a) | 6,626 | 80,175 |
O'Reilly Automotive, Inc. * | 4,486 | 1,958,588 |
Ollie's Bargain Outlet Holdings, Inc. * | 3,365 | 293,058 |
Penske Automotive Group, Inc. | 1,967 | 100,632 |
Pool Corp. | 2,375 | 830,846 |
Qurate Retail, Inc. Class A | 23,217 | 157,179 |
The Gap, Inc. | 11,244 | 218,696 |
Tiffany & Co. | 7,421 | 970,964 |
Tractor Supply Co. | 7,082 | 943,393 |
Ulta Beauty, Inc. * | 3,299 | 682,134 |
Vroom, Inc. * | 1,496 | 61,486 |
Wayfair, Inc., Class A * | 4,077 | 1,011,218 |
Williams-Sonoma, Inc. | 4,708 | 429,417 |
20,677,037 | ||
Semiconductors & Semiconductor Equipment 3.5% | ||
Cirrus Logic, Inc. * | 3,592 | 247,381 |
Cree, Inc. * | 6,632 | 421,795 |
Enphase Energy, Inc. * | 6,472 | 634,838 |
Entegris, Inc. | 8,205 | 613,488 |
First Solar, Inc. * | 5,624 | 489,541 |
Inphi Corp. * | 2,936 | 410,335 |
KLA Corp. | 9,514 | 1,875,971 |
Marvell Technology Group Ltd. | 40,397 | 1,515,291 |
Maxim Integrated Products, Inc. | 16,269 | 1,133,136 |
Microchip Technology, Inc. | 14,843 | 1,559,702 |
MKS Instruments, Inc. | 3,348 | 362,890 |
Monolithic Power Systems, Inc. | 2,666 | 852,054 |
ON Semiconductor Corp. * | 24,852 | 623,537 |
Qorvo, Inc. * | 6,989 | 890,119 |
Skyworks Solutions, Inc. | 10,219 | 1,443,842 |
SolarEdge Technologies, Inc. * | 2,993 | 771,266 |
Teradyne, Inc. | 10,133 | 890,184 |
Universal Display Corp. | 2,625 | 520,564 |
Xilinx, Inc. | 14,969 | 1,776,671 |
17,032,605 | ||
Security | Number of Shares | Value ($) |
Software & Services 11.6% | ||
2U, Inc. * | 4,151 | 152,964 |
Akamai Technologies, Inc. * | 9,796 | 931,796 |
Alliance Data Systems Corp. | 2,867 | 147,765 |
Alteryx, Inc., Class A * | 3,227 | 404,504 |
Amdocs Ltd. | 8,120 | 457,806 |
Anaplan, Inc. * | 7,970 | 441,140 |
ANSYS, Inc. * | 5,251 | 1,598,247 |
Aspen Technology, Inc. * | 4,141 | 454,723 |
Avalara, Inc. * | 5,052 | 753,001 |
BigCommerce Holdings, Inc. *(a) | 540 | 39,636 |
Bill.com Holdings, Inc. * | 3,345 | 334,500 |
Black Knight, Inc. * | 9,266 | 814,945 |
Booz Allen Hamilton Holding Corp. | 8,283 | 650,216 |
Broadridge Financial Solutions, Inc. | 7,010 | 964,576 |
CACI International, Inc., Class A * | 1,526 | 318,217 |
Cadence Design Systems, Inc. * | 16,899 | 1,848,244 |
CDK Global, Inc. | 7,453 | 321,224 |
Ceridian HCM Holding, Inc. * | 6,585 | 567,759 |
Citrix Systems, Inc. | 7,552 | 855,415 |
Cloudflare, Inc., Class A * | 6,660 | 346,120 |
Coupa Software, Inc. * | 4,070 | 1,089,539 |
Crowdstrike Holdings, Inc., Class A * | 9,296 | 1,151,217 |
Datadog, Inc., Class A * | 9,341 | 847,696 |
DocuSign, Inc. * | 10,927 | 2,209,986 |
Dropbox, Inc., Class A * | 15,046 | 274,740 |
Duck Creek Technologies, Inc. * | 874 | 37,905 |
DXC Technology Co. | 15,567 | 286,744 |
Dynatrace, Inc. * | 11,211 | 395,860 |
Elastic N.V. * | 3,998 | 405,437 |
EPAM Systems, Inc. * | 3,256 | 1,005,941 |
Euronet Worldwide, Inc. * | 3,091 | 274,604 |
Everbridge, Inc. * | 2,108 | 220,687 |
Fair Isaac Corp. * | 1,714 | 670,945 |
Fastly, Inc., Class A * | 4,837 | 307,198 |
FireEye, Inc. * | 13,529 | 187,241 |
Five9, Inc. * | 3,774 | 572,591 |
FleetCor Technologies, Inc. * | 5,052 | 1,116,037 |
Fortinet, Inc. * | 8,147 | 899,184 |
Gartner, Inc. * | 5,299 | 636,410 |
Genpact Ltd. | 11,486 | 394,774 |
Globant S.A. * | 2,361 | 426,420 |
GoDaddy, Inc., Class A * | 10,141 | 717,374 |
Guidewire Software, Inc. * | 5,088 | 489,008 |
HubSpot, Inc. * | 2,536 | 735,618 |
Jack Henry & Associates, Inc. | 4,669 | 692,179 |
Jamf Holding Corp. * | 1,220 | 39,772 |
Leidos Holdings, Inc. | 8,240 | 683,920 |
Manhattan Associates, Inc. * | 3,863 | 330,287 |
Medallia, Inc. * | 5,101 | 145,123 |
MongoDB, Inc. * | 3,081 | 703,916 |
nCino, Inc. * | 879 | 61,987 |
New Relic, Inc. * | 3,124 | 189,502 |
NortonLifeLock, Inc. | 33,645 | 692,078 |
Nuance Communications, Inc. * | 17,225 | 549,650 |
Nutanix, Inc., Class A * | 11,163 | 271,707 |
Okta, Inc. * | 7,047 | 1,478,672 |
PagerDuty, Inc. * | 4,188 | 113,495 |
Palo Alto Networks, Inc. * | 5,796 | 1,282,017 |
Paychex, Inc. | 19,661 | 1,617,117 |
Paycom Software, Inc. * | 3,019 | 1,099,188 |
Paylocity Holding Corp. * | 2,123 | 393,859 |
Pegasystems, Inc. | 2,416 | 279,966 |
Pluralsight, Inc., Class A * | 6,369 | 99,993 |
Proofpoint, Inc. * | 3,473 | 332,505 |
PTC, Inc. * | 6,391 | 536,077 |
RealPage, Inc. * | 5,359 | 298,443 |
Security | Number of Shares | Value ($) |
RingCentral, Inc., Class A * | 4,752 | 1,227,632 |
Sabre Corp. | 16,942 | 110,462 |
Science Applications International Corp. | 3,558 | 271,724 |
Slack Technologies, Inc., Class A * | 23,357 | 597,472 |
Smartsheet, Inc., Class A * | 6,767 | 337,335 |
SolarWinds Corp. * | 2,880 | 58,838 |
Splunk, Inc. * | 9,744 | 1,929,702 |
SS&C Technologies Holdings, Inc. | 13,767 | 815,282 |
StoneCo Ltd., Class A * | 10,954 | 575,523 |
Switch, Inc., Class A | 5,460 | 76,768 |
Synopsys, Inc. * | 9,175 | 1,962,165 |
Teradata Corp. * | 6,608 | 121,389 |
The Trade Desk, Inc., Class A * | 2,533 | 1,434,818 |
The Western Union Co. | 25,114 | 488,216 |
Twilio, Inc., Class A * | 8,394 | 2,341,674 |
Tyler Technologies, Inc. * | 2,430 | 934,043 |
VeriSign, Inc. * | 6,264 | 1,194,545 |
WEX, Inc. * | 2,702 | 341,938 |
Zendesk, Inc. * | 6,997 | 776,247 |
Zscaler, Inc. * | 4,309 | 584,947 |
55,828,127 | ||
Technology Hardware & Equipment 4.1% | ||
Amphenol Corp., Class A | 17,692 | 1,996,365 |
Arista Networks, Inc. * | 3,596 | 751,204 |
Arrow Electronics, Inc. * | 4,724 | 367,952 |
Avnet, Inc. | 5,961 | 147,058 |
CDW Corp. | 8,693 | 1,065,762 |
Ciena Corp. * | 9,343 | 368,021 |
Cognex Corp. | 10,092 | 665,063 |
Coherent, Inc. * | 1,476 | 184,707 |
CommScope Holding Co., Inc. * | 11,777 | 104,815 |
Corning, Inc. | 45,951 | 1,469,054 |
Dolby Laboratories, Inc., Class A | 3,857 | 289,584 |
EchoStar Corp., Class A * | 2,964 | 68,646 |
F5 Networks, Inc. * | 3,734 | 496,398 |
FLIR Systems, Inc. | 7,973 | 276,583 |
Hewlett Packard Enterprise Co. | 79,036 | 682,871 |
HP, Inc. | 87,711 | 1,575,290 |
IPG Photonics Corp. * | 2,170 | 403,533 |
Jabil, Inc. | 9,030 | 299,254 |
Juniper Networks, Inc. | 20,145 | 397,259 |
Keysight Technologies, Inc. * | 11,463 | 1,202,125 |
Littelfuse, Inc. | 1,441 | 285,232 |
Lumentum Holdings, Inc. * | 4,585 | 379,134 |
Motorola Solutions, Inc. | 10,423 | 1,647,459 |
National Instruments Corp. | 7,921 | 247,769 |
NCR Corp. * | 7,832 | 159,146 |
NetApp, Inc. | 13,562 | 595,236 |
Pure Storage, Inc., Class A * | 14,786 | 238,055 |
SYNNEX Corp. | 2,544 | 334,892 |
Trimble, Inc. * | 15,278 | 735,330 |
Ubiquiti, Inc. | 521 | 96,703 |
ViaSat, Inc. * | 3,542 | 120,074 |
Vontier Corp. * | 7,256 | 208,537 |
Western Digital Corp. | 18,379 | 693,440 |
Xerox Holdings Corp. | 11,077 | 192,518 |
Zebra Technologies Corp., Class A * | 3,216 | 912,186 |
19,657,255 | ||
Telecommunication Services 0.2% | ||
CenturyLink, Inc. | 67,052 | 577,989 |
GCI Liberty, Inc., Class A * | 6,044 | 490,954 |
Security | Number of Shares | Value ($) |
Telephone & Data Systems, Inc. | 6,160 | 104,720 |
United States Cellular Corp. * | 876 | 25,509 |
1,199,172 | ||
Transportation 2.2% | ||
Alaska Air Group, Inc. | 7,371 | 279,287 |
AMERCO | 545 | 189,202 |
American Airlines Group, Inc. (a) | 31,026 | 349,973 |
C.H. Robinson Worldwide, Inc. | 8,120 | 718,052 |
Copa Holdings S.A., Class A | 1,899 | 93,583 |
Delta Air Lines, Inc. | 39,063 | 1,196,890 |
Expeditors International of Washington, Inc. | 10,169 | 898,635 |
JB Hunt Transport Services, Inc. | 5,137 | 625,378 |
JetBlue Airways Corp. * | 16,605 | 198,762 |
Kansas City Southern | 5,809 | 1,023,197 |
Kirby Corp. * | 3,627 | 139,603 |
Knight-Swift Transportation Holdings, Inc. | 7,686 | 291,991 |
Landstar System, Inc. | 2,327 | 290,177 |
Lyft, Inc., Class A * | 14,895 | 340,053 |
Macquarie Infrastructure Corp. | 4,510 | 116,358 |
Old Dominion Freight Line, Inc. | 5,977 | 1,137,841 |
Ryder System, Inc. | 3,211 | 158,174 |
Schneider National, Inc., Class B | 3,564 | 78,622 |
Southwest Airlines Co. | 36,121 | 1,427,863 |
United Airlines Holdings, Inc. * | 17,774 | 601,828 |
XPO Logistics, Inc. * | 5,563 | 500,670 |
10,656,139 | ||
Utilities 5.9% | ||
Alliant Energy Corp. | 15,303 | 845,950 |
Ameren Corp. | 15,088 | 1,223,939 |
American Water Works Co., Inc. | 11,103 | 1,671,112 |
Atmos Energy Corp. | 7,420 | 680,191 |
Avangrid, Inc. | 3,453 | 170,371 |
CenterPoint Energy, Inc. | 30,854 | 651,945 |
CMS Energy Corp. | 17,503 | 1,108,465 |
Consolidated Edison, Inc. | 20,533 | 1,611,635 |
DTE Energy Co. | 11,772 | 1,452,900 |
Edison International | 21,921 | 1,228,453 |
Entergy Corp. | 12,311 | 1,246,119 |
Essential Utilities, Inc. | 13,696 | 564,275 |
Evergy, Inc. | 13,869 | 765,569 |
Eversource Energy | 21,043 | 1,836,423 |
FirstEnergy Corp. | 33,222 | 987,358 |
Hawaiian Electric Industries, Inc. | 6,523 | 215,520 |
IDACORP, Inc. | 3,098 | 271,788 |
MDU Resources Group, Inc. | 12,219 | 290,323 |
National Fuel Gas Co. | 5,299 | 211,748 |
NiSource, Inc. | 23,447 | 538,578 |
NRG Energy, Inc. | 14,902 | 471,201 |
OGE Energy Corp. | 12,261 | 377,271 |
PG&E Corp. * | 79,360 | 758,682 |
Pinnacle West Capital Corp. | 6,884 | 561,528 |
PPL Corp. | 47,228 | 1,298,770 |
Public Service Enterprise Group, Inc. | 30,965 | 1,800,615 |
The AES Corp. | 40,504 | 789,828 |
UGI Corp. | 12,757 | 412,561 |
Vistra Corp. | 29,888 | 519,155 |
WEC Energy Group, Inc. | 19,356 | 1,946,246 |
Xcel Energy, Inc. | 32,214 | 2,255,946 |
28,764,465 | ||
Total Common Stock | ||
(Cost $433,487,343) | 480,136,393 | |
Security | Number of Shares | Value ($) |
Other Investment Companies 0.6% of net assets | ||
Equity Funds 0.1% | ||
iShares Russell Mid-Cap ETF | 9,250 | 534,188 |
Money Market Fund 0.3% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 1,321,608 | 1,321,608 |
Securities Lending Collateral 0.2% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 1,047,925 | 1,047,925 |
Total Other Investment Companies | ||
(Cost $2,904,664) | 2,903,721 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
S&P 400 Mid-Cap Index, e-mini, expires 12/18/20 | 12 | 2,274,720 | (107,774) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $1,016,695. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 98.7% of net assets | ||
Australia 6.8% | ||
Afterpay Ltd. * | 97,520 | 6,640,048 |
AGL Energy Ltd. | 286,978 | 2,515,229 |
AMP Ltd. | 1,626,216 | 1,749,958 |
Ampol Ltd. | 109,486 | 1,996,379 |
APA Group | 527,949 | 3,892,219 |
Aristocrat Leisure Ltd. | 256,083 | 5,156,675 |
ASX Ltd. | 86,991 | 4,871,027 |
Aurizon Holdings Ltd. | 888,057 | 2,354,824 |
AusNet Services | 827,122 | 1,162,753 |
Australia & New Zealand Banking Group Ltd. | 1,268,478 | 16,833,504 |
BHP Group Ltd. | 1,318,528 | 31,607,261 |
BlueScope Steel Ltd. | 223,901 | 2,312,604 |
Brambles Ltd. | 693,268 | 4,675,620 |
CIMIC Group Ltd. * | 43,905 | 663,571 |
Coca-Cola Amatil Ltd. | 235,954 | 2,062,670 |
Cochlear Ltd. | 29,489 | 4,401,390 |
Coles Group Ltd. | 594,014 | 7,420,586 |
Commonwealth Bank of Australia | 793,999 | 38,549,866 |
Computershare Ltd. | 217,978 | 1,862,820 |
Crown Resorts Ltd. | 160,832 | 936,347 |
CSL Ltd. | 203,506 | 41,201,270 |
Dexus | 484,700 | 2,932,458 |
Evolution Mining Ltd. | 740,504 | 2,903,097 |
Fortescue Metals Group Ltd. | 756,085 | 9,249,558 |
Goodman Group | 734,062 | 9,501,078 |
Insurance Australia Group Ltd. | 1,029,339 | 3,455,203 |
James Hardie Industries plc | 198,873 | 4,828,610 |
Lendlease Corp. Ltd. | 290,353 | 2,442,488 |
Macquarie Group Ltd. | 150,136 | 13,386,120 |
Magellan Financial Group Ltd. | 56,180 | 2,177,455 |
Medibank Pvt Ltd. | 1,250,365 | 2,347,152 |
Mirvac Group | 1,743,087 | 2,584,948 |
National Australia Bank Ltd. | 1,428,937 | 18,694,751 |
Newcrest Mining Ltd. | 359,412 | 7,453,303 |
Northern Star Resources Ltd. | 335,654 | 3,545,818 |
Oil Search Ltd. | 876,266 | 1,582,069 |
Orica Ltd. | 184,777 | 1,983,539 |
Origin Energy Ltd. | 781,152 | 2,197,388 |
Qantas Airways Ltd. * | 399,017 | 1,173,882 |
QBE Insurance Group Ltd. | 664,644 | 3,843,426 |
Ramsay Health Care Ltd. | 81,055 | 3,551,368 |
REA Group Ltd. | 23,214 | 1,930,523 |
Rio Tinto Ltd. | 166,540 | 10,834,069 |
Santos Ltd. | 797,593 | 2,651,507 |
Scentre Group | 2,358,223 | 3,480,075 |
SEEK Ltd. (a) | 149,194 | 2,258,137 |
Sonic Healthcare Ltd. | 203,213 | 4,977,301 |
South32 Ltd. | 2,209,203 | 3,152,491 |
Stockland | 1,082,768 | 2,927,893 |
Suncorp Group Ltd. | 558,156 | 3,223,512 |
Sydney Airport | 576,197 | 2,209,186 |
Tabcorp Holdings Ltd. | 1,024,262 | 2,366,682 |
Telstra Corp. Ltd. | 1,863,400 | 3,509,130 |
The GPT Group | 864,789 | 2,449,300 |
TPG Telecom Ltd. * | 159,515 | 805,130 |
Security | Number of Shares | Value ($) |
Transurban Group | 1,223,929 | 11,590,209 |
Treasury Wine Estates Ltd. | 330,306 | 2,129,432 |
Vicinity Centres | 1,611,630 | 1,369,575 |
Washington H Soul Pattinson & Co., Ltd. | 53,217 | 947,658 |
Wesfarmers Ltd. | 510,509 | 16,524,980 |
Westpac Banking Corp. | 1,614,101 | 20,429,451 |
WiseTech Global Ltd. | 64,917 | 1,324,013 |
Woodside Petroleum Ltd. | 428,705 | 5,287,752 |
Woolworths Group Ltd. | 563,234 | 15,151,162 |
404,229,500 | ||
Austria 0.2% | ||
ANDRITZ AG | 31,366 | 1,057,868 |
Erste Group Bank AG * | 126,884 | 2,608,159 |
OMV AG | 67,724 | 1,565,533 |
Raiffeisen Bank International AG * | 64,183 | 926,696 |
Verbund AG | 31,514 | 1,817,540 |
voestalpine AG | 54,656 | 1,519,812 |
9,495,608 | ||
Belgium 0.9% | ||
Ageas S.A./N.V. | 78,066 | 3,143,643 |
Anheuser-Busch InBev S.A./N.V. | 340,915 | 17,634,227 |
Argenx SE * | 19,871 | 4,958,642 |
Elia Group S.A./N.V. | 14,667 | 1,418,608 |
Etablissements Franz Colruyt N.V. | 26,113 | 1,545,564 |
Galapagos N.V. * | 19,226 | 2,247,273 |
Groupe Bruxelles Lambert S.A. | 51,058 | 4,187,174 |
KBC Group N.V. | 111,695 | 5,518,494 |
Proximus | 66,235 | 1,287,621 |
Sofina S.A. | 7,114 | 1,848,918 |
Solvay S.A. | 32,495 | 2,640,229 |
Telenet Group Holding N.V. | 20,805 | 800,170 |
UCB S.A. | 57,447 | 5,674,128 |
Umicore S.A. | 88,251 | 3,402,191 |
56,306,882 | ||
Denmark 2.6% | ||
Ambu A/S, Class B | 74,630 | 2,263,557 |
AP Moller - Maersk A/S, Series A | 1,524 | 2,253,471 |
AP Moller - Maersk A/S, Series B | 2,915 | 4,671,680 |
Carlsberg A/S, Class B | 46,083 | 5,835,065 |
Chr. Hansen Holding A/S | 47,041 | 4,746,898 |
Coloplast A/S, Class B | 52,963 | 7,745,466 |
Danske Bank A/S * | 308,647 | 4,113,514 |
Demant A/S * | 49,165 | 1,552,300 |
DSV PANALPINA A/S | 92,772 | 15,051,462 |
Genmab A/S * | 29,282 | 9,780,916 |
GN Store Nord A/S | 57,092 | 4,110,452 |
H. Lundbeck A/S | 33,700 | 950,052 |
Novo Nordisk A/S, Class B | 770,680 | 49,142,899 |
Novozymes A/S, Class B | 93,097 | 5,598,961 |
Orsted A/S | 84,158 | 13,357,054 |
Pandora A/S | 45,275 | 3,591,640 |
Security | Number of Shares | Value ($) |
Tryg A/S | 57,060 | 1,583,570 |
Vestas Wind Systems A/S | 88,171 | 15,126,971 |
151,475,928 | ||
Finland 1.0% | ||
Elisa Oyj | 64,008 | 3,147,187 |
Fortum Oyj | 200,724 | 3,772,934 |
Kone Oyj, Class B | 152,595 | 12,148,564 |
Neste Oyj | 190,469 | 9,933,633 |
Nokia Oyj * | 2,533,063 | 8,539,452 |
Orion Oyj, Class B | 46,161 | 1,975,673 |
Sampo Oyj, A Shares | 209,399 | 7,901,980 |
Stora Enso Oyj, R Shares | 263,110 | 3,839,550 |
UPM-Kymmene Oyj | 242,455 | 6,851,526 |
Wartsila Oyj Abp | 189,743 | 1,507,852 |
59,618,351 | ||
France 10.5% | ||
Accor S.A. * | 86,918 | 2,215,361 |
Aeroports de Paris | 13,436 | 1,314,815 |
Air Liquide S.A. | 211,543 | 30,935,683 |
Airbus SE * | 262,662 | 19,217,937 |
Alstom S.A. * | 85,014 | 3,798,375 |
Amundi S.A. * | 26,406 | 1,732,023 |
ArcelorMittal S.A. * | 316,698 | 4,294,433 |
Arkema S.A. | 31,729 | 3,107,530 |
Atos SE * | 44,528 | 3,041,968 |
AXA S.A. | 861,083 | 13,828,388 |
BioMerieux | 18,898 | 2,813,893 |
BNP Paribas S.A. * | 503,076 | 17,544,657 |
Bollore S.A. | 392,631 | 1,407,384 |
Bouygues S.A. | 101,475 | 3,327,713 |
Bureau Veritas S.A. * | 130,343 | 2,858,206 |
Capgemini SE | 72,083 | 8,323,265 |
Carrefour S.A. | 271,409 | 4,218,210 |
Cie de Saint-Gobain * | 229,674 | 8,946,608 |
CNP Assurances * | 74,649 | 841,939 |
Compagnie Generale des Etablissements Michelin S.C.A. | 76,769 | 8,291,126 |
Covivio | 23,711 | 1,412,004 |
Credit Agricole S.A. * | 515,230 | 4,075,746 |
Danone S.A. | 278,163 | 15,428,366 |
Dassault Aviation S.A. * | 1,210 | 1,012,354 |
Dassault Systemes SE | 59,092 | 10,075,796 |
Edenred | 109,653 | 5,111,358 |
Eiffage S.A. * | 38,986 | 2,829,504 |
Electricite de France S.A. | 286,017 | 3,319,816 |
Engie S.A. * | 811,860 | 9,819,083 |
EssilorLuxottica S.A. * | 127,475 | 15,737,920 |
Eurazeo SE * | 17,153 | 780,076 |
Eurofins Scientific SE * | 6,040 | 4,809,773 |
Faurecia SE * | 33,360 | 1,265,210 |
Gecina S.A. | 20,314 | 2,521,841 |
Getlink SE * | 194,873 | 2,621,085 |
Hermes International | 14,257 | 13,274,690 |
ICADE | 12,793 | 646,949 |
Iliad S.A. | 6,992 | 1,351,775 |
Ipsen S.A. | 17,626 | 1,605,375 |
JCDecaux S.A. * | 35,719 | 551,299 |
Kering S.A. | 33,897 | 20,484,503 |
Klepierre S.A. (b) | 88,751 | 1,124,483 |
L'Oreal S.A. | 112,611 | 36,394,218 |
La Francaise des Jeux SAEM | 37,115 | 1,392,266 |
Legrand S.A. | 118,643 | 8,781,872 |
LVMH Moet Hennessy Louis Vuitton SE | 124,438 | 58,330,025 |
Security | Number of Shares | Value ($) |
Natixis S.A. * | 400,181 | 932,100 |
Orange S.A. | 897,844 | 10,082,448 |
Orpea * | 23,431 | 2,340,388 |
Pernod-Ricard S.A. | 95,158 | 15,330,188 |
Peugeot S.A. * | 262,738 | 4,719,880 |
Publicis Groupe S.A. | 94,916 | 3,297,599 |
Remy Cointreau S.A. | 9,982 | 1,685,283 |
Renault S.A. * | 83,966 | 2,079,483 |
Safran S.A. * | 143,345 | 15,120,015 |
Sanofi | 505,958 | 45,684,637 |
Sartorius Stedim Biotech | 12,681 | 4,808,763 |
Schneider Electric SE | 247,382 | 30,058,500 |
SCOR SE * | 72,951 | 1,771,633 |
SEB S.A. | 9,843 | 1,599,618 |
SES S.A. | 171,330 | 1,368,468 |
Societe Generale S.A. * | 363,041 | 4,932,968 |
Sodexo S.A. | 39,221 | 2,519,403 |
STMicroelectronics N.V. | 286,189 | 8,729,968 |
Suez S.A. | 162,973 | 2,983,606 |
Teleperformance | 26,093 | 7,832,671 |
Thales S.A. | 48,240 | 3,143,333 |
TOTAL SE | 1,109,150 | 33,603,594 |
UbiSoft Entertainment S.A. * | 40,714 | 3,596,406 |
Unibail-Rodamco-Westfield (b) | 62,633 | 2,535,440 |
Valeo S.A. | 103,789 | 3,139,763 |
Veolia Environnement S.A. | 241,069 | 4,486,931 |
Vinci S.A. | 230,571 | 18,211,666 |
Vivendi S.A. | 375,099 | 10,826,672 |
Wendel SE | 12,085 | 1,045,852 |
Worldline S.A. * | 104,680 | 7,753,292 |
623,037,469 | ||
Germany 8.4% | ||
adidas AG * | 85,079 | 25,277,384 |
Allianz SE | 186,907 | 32,924,527 |
Aroundtown S.A. * | 446,627 | 2,142,316 |
BASF SE | 412,205 | 22,571,598 |
Bayer AG | 438,762 | 20,617,653 |
Bayerische Motoren Werke AG | 147,654 | 10,090,486 |
Beiersdorf AG | 45,092 | 4,721,550 |
Brenntag AG | 70,649 | 4,515,628 |
Carl Zeiss Meditec AG | 17,661 | 2,281,979 |
Commerzbank AG * | 439,465 | 2,080,125 |
Continental AG | 50,023 | 5,314,989 |
Covestro AG | 82,220 | 3,924,029 |
Daimler AG | 382,731 | 19,782,786 |
Delivery Hero SE * | 58,712 | 6,739,794 |
Deutsche Bank AG * | 874,088 | 8,077,566 |
Deutsche Boerse AG | 85,444 | 12,590,474 |
Deutsche Lufthansa AG *(b) | 138,220 | 1,182,482 |
Deutsche Post AG | 442,420 | 19,616,008 |
Deutsche Telekom AG | 1,489,569 | 22,639,583 |
Deutsche Wohnen SE | 152,045 | 7,674,155 |
E.ON SE | 1,000,393 | 10,418,259 |
Evonik Industries AG | 91,767 | 2,209,463 |
Fraport AG Frankfurt Airport Services Worldwide *(b) | 18,332 | 663,041 |
Fresenius Medical Care AG & Co. KGaA | 95,244 | 7,273,039 |
Fresenius SE & Co. KGaA | 189,010 | 7,011,030 |
GEA Group AG | 71,788 | 2,390,806 |
Hannover Rueck SE | 27,150 | 3,945,486 |
HeidelbergCement AG | 67,041 | 3,834,304 |
Henkel AG & Co. KGaA | 47,016 | 4,250,429 |
HOCHTIEF AG | 11,708 | 861,306 |
Infineon Technologies AG | 560,692 | 15,610,325 |
KION Group AG | 29,075 | 2,265,550 |
Security | Number of Shares | Value ($) |
Knorr-Bremse AG | 33,399 | 3,867,643 |
LANXESS AG | 36,992 | 1,876,151 |
LEG Immobilien AG | 30,907 | 4,177,169 |
Merck KGaA | 58,554 | 8,673,672 |
METRO AG | 80,819 | 792,540 |
MTU Aero Engines AG | 23,873 | 4,080,405 |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 62,543 | 14,658,651 |
Nemetschek SE | 24,975 | 1,808,363 |
Puma SE * | 43,830 | 3,837,015 |
QIAGEN N.V. * | 100,473 | 4,770,738 |
RWE AG | 286,911 | 10,617,931 |
SAP SE | 467,434 | 49,867,998 |
Scout24 AG | 47,976 | 3,870,493 |
Siemens AG | 342,762 | 40,211,478 |
Siemens Energy AG * | 176,009 | 3,853,791 |
Siemens Healthineers AG | 122,910 | 5,276,374 |
Symrise AG | 57,259 | 7,060,629 |
Teamviewer AG * | 67,138 | 2,959,309 |
Telefonica Deutschland Holding AG | 452,375 | 1,141,011 |
ThyssenKrupp AG * | 189,594 | 904,980 |
Uniper SE | 89,588 | 2,675,935 |
United Internet AG | 47,754 | 1,674,665 |
Volkswagen AG | 14,839 | 2,308,390 |
Vonovia SE | 230,868 | 14,744,035 |
Zalando SE * | 68,906 | 6,416,828 |
497,624,344 | ||
Hong Kong 3.4% | ||
AIA Group Ltd. | 5,417,400 | 51,558,335 |
ASM Pacific Technology Ltd. | 137,100 | 1,382,559 |
BeiGene Ltd. ADR * | 17,904 | 5,308,894 |
BOC Hong Kong (Holdings) Ltd. | 1,657,090 | 4,602,545 |
Budweiser Brewing Co. APAC Ltd. | 778,600 | 2,296,177 |
CK Asset Holdings Ltd. | 1,181,025 | 5,484,077 |
CK Hutchison Holdings Ltd. | 1,225,525 | 7,402,143 |
CK Infrastructure Holdings Ltd. | 293,000 | 1,382,160 |
CLP Holdings Ltd. | 746,426 | 6,877,975 |
Dairy Farm International Holdings Ltd. | 153,000 | 576,324 |
Galaxy Entertainment Group Ltd. | 965,000 | 6,377,254 |
Hang Lung Properties Ltd. | 917,000 | 2,232,426 |
Hang Seng Bank Ltd. | 342,540 | 5,277,184 |
Henderson Land Development Co., Ltd. | 632,735 | 2,234,870 |
HK Electric Investments & HK Electric Investments Ltd. | 1,157,604 | 1,178,470 |
HKT Trust & HKT Ltd. | 1,644,000 | 2,126,131 |
Hong Kong & China Gas Co., Ltd. | 4,775,473 | 6,890,065 |
Hong Kong Exchanges & Clearing Ltd. | 539,765 | 25,864,841 |
Hongkong Land Holdings Ltd. | 494,600 | 1,815,754 |
Jardine Matheson Holdings Ltd. | 99,075 | 4,391,562 |
Jardine Strategic Holdings Ltd. | 101,740 | 2,202,890 |
Kerry Properties Ltd. | 297,500 | 729,925 |
Link REIT | 921,500 | 7,032,757 |
Melco Resorts & Entertainment Ltd. ADR | 98,111 | 1,581,549 |
Microport Scientific Corp. | 320,000 | 1,130,613 |
MTR Corp., Ltd. | 681,091 | 3,374,987 |
New World Development Co., Ltd. | 684,778 | 3,269,395 |
PCCW Ltd. | 1,857,682 | 1,117,648 |
Power Assets Holdings Ltd. | 624,938 | 3,218,236 |
Sands China Ltd. | 1,076,400 | 3,777,735 |
Sino Land Co., Ltd. | 1,438,472 | 1,704,701 |
Security | Number of Shares | Value ($) |
SJM Holdings Ltd. | 878,864 | 912,532 |
Sun Hung Kai Properties Ltd. | 577,104 | 7,428,374 |
Swire Pacific Ltd., Class A | 226,590 | 1,033,295 |
Swire Properties Ltd. | 553,200 | 1,484,504 |
Techtronic Industries Co., Ltd. | 609,000 | 8,202,829 |
The Bank of East Asia Ltd. | 565,969 | 1,021,016 |
WH Group Ltd. | 4,297,500 | 3,384,823 |
Wharf Real Estate Investment Co., Ltd. | 772,188 | 2,971,982 |
Wynn Macau Ltd. * | 698,000 | 964,380 |
201,803,917 | ||
Ireland 0.7% | ||
CRH plc | 352,289 | 12,327,217 |
Flutter Entertainment plc * | 69,316 | 12,117,023 |
Kerry Group plc, Class A | 71,689 | 8,581,309 |
Kingspan Group plc * | 68,366 | 5,959,742 |
Smurfit Kappa Group plc | 103,158 | 3,886,900 |
42,872,191 | ||
Israel 0.6% | ||
Azrieli Group Ltd. | 20,307 | 953,127 |
Bank Hapoalim B.M. * | 506,552 | 2,956,901 |
Bank Leumi Le-Israel B.M. | 651,059 | 3,068,463 |
Check Point Software Technologies Ltd. * | 50,383 | 5,721,493 |
CyberArk Software Ltd. * | 17,613 | 1,746,329 |
Elbit Systems Ltd. | 12,524 | 1,411,249 |
ICL Group Ltd. | 304,605 | 1,105,063 |
Israel Discount Bank Ltd., Class A | 518,054 | 1,450,063 |
Mizrahi Tefahot Bank Ltd. | 62,945 | 1,227,440 |
Nice Ltd. * | 28,009 | 6,370,061 |
Teva Pharmaceutical Industries Ltd. ADR * | 490,182 | 4,274,387 |
Wix.com Ltd. * | 22,918 | 5,668,080 |
35,952,656 | ||
Italy 2.2% | ||
Assicurazioni Generali S.p.A. | 499,917 | 6,705,999 |
Atlantia S.p.A. * | 218,169 | 3,349,012 |
CNH Industrial N.V. * | 461,143 | 3,575,553 |
Davide Campari-Milano N.V. | 253,994 | 2,654,581 |
DiaSorin S.p.A. | 10,932 | 2,399,887 |
Enel S.p.A. | 3,636,304 | 28,910,444 |
Eni S.p.A. | 1,129,971 | 7,915,497 |
EXOR N.V. | 47,525 | 2,472,574 |
Ferrari N.V. | 56,568 | 10,091,270 |
Fiat Chrysler Automobiles N.V. * | 488,760 | 5,995,918 |
FinecoBank Banca Fineco S.p.A. * | 272,317 | 3,738,876 |
Infrastrutture Wireless Italiane S.p.A. | 116,121 | 1,254,296 |
Intesa Sanpaolo S.p.A. * | 7,414,200 | 12,308,342 |
Leonardo S.p.A. | 194,114 | 925,563 |
Mediobanca Banca di Credito Finanziario S.p.A. | 282,372 | 2,004,762 |
Moncler S.p.A. * | 87,343 | 3,494,741 |
Nexi SpA * | 196,508 | 3,025,064 |
Pirelli & C S.p.A. * | 178,195 | 742,983 |
Poste Italiane S.p.A | 242,430 | 1,979,119 |
Prysmian S.p.A. | 110,385 | 3,003,841 |
Recordati Industria Chimica e Farmaceutica S.p.A. | 45,954 | 2,382,467 |
Snam S.p.A. | 895,362 | 4,365,858 |
Telecom Italia S.p.A. | 3,880,094 | 1,317,961 |
Telecom Italia S.p.A. - RSP | 2,653,128 | 965,756 |
Security | Number of Shares | Value ($) |
Tenaris S.A. | 213,239 | 1,017,582 |
Terna - Rete Elettrica Nationale S.p.A. | 627,832 | 4,238,988 |
UniCredit S.p.A. * | 951,027 | 7,122,610 |
127,959,544 | ||
Japan 26.4% | ||
ABC-Mart, Inc. | 14,380 | 729,417 |
Acom Co., Ltd. | 167,800 | 754,097 |
Advantest Corp. | 89,998 | 5,212,951 |
Aeon Co., Ltd. | 291,800 | 7,454,959 |
Aeon Mall Co., Ltd. | 45,500 | 709,772 |
AGC, Inc. | 84,993 | 2,653,987 |
Air Water, Inc. | 79,400 | 1,134,452 |
Aisin Seiki Co., Ltd. | 70,600 | 2,139,044 |
Ajinomoto Co., Inc. | 209,900 | 4,217,051 |
Alfresa Holdings Corp. | 83,200 | 1,523,386 |
Amada Co., Ltd. | 142,300 | 1,238,530 |
ANA Holdings, Inc. * | 51,600 | 1,125,438 |
Aozora Bank Ltd. | 51,200 | 841,166 |
Asahi Group Holdings Ltd. | 202,900 | 6,279,169 |
Asahi Intecc Co., Ltd. | 89,600 | 2,776,541 |
Asahi Kasei Corp. | 564,600 | 4,892,582 |
Astellas Pharma, Inc. | 834,150 | 11,438,646 |
Bandai Namco Holdings, Inc. | 89,200 | 6,666,343 |
Benesse Holdings, Inc. | 31,700 | 747,353 |
Bridgestone Corp. | 240,157 | 7,827,917 |
Brother Industries Ltd. | 98,400 | 1,520,494 |
Calbee, Inc. | 38,300 | 1,174,915 |
Canon, Inc. | 446,695 | 7,775,261 |
Casio Computer Co., Ltd. | 86,000 | 1,306,525 |
Central Japan Railway Co. | 64,200 | 7,763,001 |
Chubu Electric Power Co., Inc. | 290,900 | 3,258,606 |
Chugai Pharmaceutical Co., Ltd. | 301,200 | 11,626,316 |
Coca-Cola Bottlers Japan Holdings, Inc. | 52,800 | 745,321 |
Concordia Financial Group Ltd. | 458,900 | 1,514,853 |
Cosmos Pharmaceutical Corp. | 9,400 | 1,596,490 |
CyberAgent, Inc. | 45,000 | 2,830,425 |
Dai Nippon Printing Co., Ltd. | 108,148 | 2,014,735 |
Dai-ichi Life Holdings, Inc. | 481,800 | 7,195,882 |
Daicel Corp. | 105,900 | 755,771 |
Daifuku Co., Ltd. | 46,030 | 4,746,511 |
Daiichi Sankyo Co., Ltd. | 759,600 | 20,048,605 |
Daikin Industries Ltd. | 111,700 | 20,902,781 |
Daito Trust Construction Co., Ltd. | 29,400 | 2,674,375 |
Daiwa House Industry Co., Ltd. | 253,600 | 6,663,277 |
Daiwa House REIT Investment Corp. | 904 | 2,091,188 |
Daiwa Securities Group, Inc. | 653,800 | 2,649,079 |
Denso Corp. | 195,700 | 9,118,946 |
Dentsu Group, Inc. | 98,000 | 2,825,146 |
Disco Corp. | 13,000 | 3,508,808 |
East Japan Railway Co. | 134,660 | 7,041,833 |
Eisai Co., Ltd. | 113,600 | 8,832,801 |
Electric Power Development Co., Ltd. | 62,700 | 847,369 |
ENEOS Holdings, Inc. | 1,374,900 | 4,639,306 |
FamilyMart Co., Ltd. | 79,600 | 1,749,630 |
FANUC Corp. | 85,900 | 18,144,198 |
Fast Retailing Co., Ltd. | 26,300 | 18,345,346 |
Fuji Electric Co., Ltd. | 55,400 | 1,679,891 |
FUJIFILM Holdings Corp. | 163,511 | 8,337,844 |
Fujitsu Ltd. | 88,200 | 10,435,346 |
Fukuoka Financial Group, Inc. | 75,800 | 1,267,933 |
GLP J-REIT | 1,666 | 2,568,385 |
GMO Payment Gateway, Inc. | 19,000 | 2,328,041 |
Hakuhodo DY Holdings, Inc. | 102,300 | 1,303,422 |
Hamamatsu Photonics K.K. | 63,300 | 3,185,238 |
Security | Number of Shares | Value ($) |
Hankyu Hanshin Holdings, Inc. | 104,400 | 3,187,681 |
Hikari Tsushin, Inc. | 9,293 | 2,179,624 |
Hino Motors Ltd. | 125,700 | 963,079 |
Hirose Electric Co., Ltd. | 14,564 | 2,032,907 |
Hisamitsu Pharmaceutical Co., Inc. | 23,200 | 1,109,753 |
Hitachi Construction Machinery Co., Ltd. | 47,653 | 1,175,243 |
Hitachi Ltd. | 433,215 | 14,601,206 |
Hitachi Metals Ltd. | 98,900 | 1,311,539 |
Honda Motor Co., Ltd. | 730,839 | 17,286,486 |
Hoshizaki Corp. | 22,200 | 1,772,875 |
Hoya Corp. | 167,407 | 18,893,034 |
Hulic Co., Ltd. | 144,300 | 1,336,636 |
Idemitsu Kosan Co., Ltd. | 85,903 | 1,737,299 |
Iida Group Holdings Co., Ltd. | 64,600 | 1,168,751 |
Inpex Corp. | 464,300 | 2,201,895 |
Isetan Mitsukoshi Holdings Ltd. | 142,500 | 693,996 |
Isuzu Motors Ltd. | 244,700 | 1,985,372 |
Ito En Ltd. | 24,700 | 1,564,330 |
ITOCHU Corp. | 600,900 | 14,432,720 |
Itochu Techno-Solutions Corp. | 41,487 | 1,407,546 |
Japan Airlines Co., Ltd. * | 48,000 | 838,360 |
Japan Airport Terminal Co., Ltd. | 24,700 | 1,072,752 |
Japan Exchange Group, Inc. | 227,700 | 5,558,890 |
Japan Post Bank Co., Ltd. | 176,000 | 1,403,728 |
Japan Post Holdings Co., Ltd. | 707,100 | 4,851,726 |
Japan Post Insurance Co., Ltd. | 106,000 | 1,680,218 |
Japan Prime Realty Investment Corp. | 382 | 1,032,379 |
Japan Real Estate Investment Corp. | 594 | 2,911,019 |
Japan Retail Fund Investment Corp. | 1,167 | 1,682,122 |
Japan Tobacco, Inc. | 535,100 | 10,074,421 |
JFE Holdings, Inc. * | 229,400 | 1,611,803 |
JGC Holdings Corp. | 97,400 | 800,859 |
JSR Corp. | 92,300 | 2,086,167 |
JTEKT Corp. | 92,000 | 733,124 |
Kajima Corp. | 197,500 | 2,110,372 |
Kakaku.com, Inc. | 63,600 | 1,680,784 |
Kamigumi Co., Ltd. | 47,300 | 846,239 |
Kansai Paint Co., Ltd. | 77,500 | 1,998,114 |
Kao Corp. | 215,919 | 15,373,150 |
Kawasaki Heavy Industries Ltd. * | 61,100 | 729,971 |
KDDI Corp. | 719,300 | 19,460,654 |
Keihan Holdings Co., Ltd. | 44,600 | 1,694,363 |
Keikyu Corp. | 95,000 | 1,328,515 |
Keio Corp. | 47,200 | 2,743,133 |
Keisei Electric Railway Co., Ltd. | 57,756 | 1,615,676 |
Keyence Corp. | 81,600 | 37,031,916 |
Kikkoman Corp. | 66,477 | 3,310,564 |
Kintetsu Group Holdings Co., Ltd. | 77,500 | 3,096,549 |
Kirin Holdings Co., Ltd. | 367,600 | 6,627,228 |
Kobayashi Pharmaceutical Co., Ltd. | 22,600 | 2,202,273 |
Kobe Bussan Co., Ltd. (b) | 53,600 | 1,508,038 |
Koito Manufacturing Co., Ltd. | 48,000 | 2,314,742 |
Komatsu Ltd. | 388,909 | 8,768,135 |
Konami Holdings Corp. | 40,700 | 1,592,928 |
Kose Corp. | 15,500 | 1,975,869 |
Kubota Corp. | 462,300 | 8,033,881 |
Kuraray Co., Ltd. | 139,700 | 1,292,082 |
Kurita Water Industries Ltd. | 42,300 | 1,258,582 |
Kyocera Corp. | 143,600 | 7,908,404 |
Kyowa Kirin Co., Ltd. | 122,100 | 3,032,155 |
Kyushu Electric Power Co., Inc. | 169,200 | 1,418,479 |
Kyushu Railway Co. | 69,400 | 1,476,199 |
Lasertec Corp. | 34,500 | 2,988,418 |
Lawson, Inc. | 24,300 | 1,116,477 |
LINE Corp. * | 16,100 | 826,141 |
Lion Corp. | 103,400 | 2,108,469 |
LIXIL Group Corp. | 119,587 | 2,596,740 |
Security | Number of Shares | Value ($) |
M3, Inc. | 198,200 | 13,385,579 |
Makita Corp. | 99,800 | 4,411,518 |
Marubeni Corp. | 739,700 | 3,862,126 |
Marui Group Co., Ltd. | 82,146 | 1,484,537 |
Maruichi Steel Tube Ltd. | 26,600 | 610,245 |
Mazda Motor Corp. | 253,100 | 1,328,984 |
McDonald's Holdings Co., Japan Ltd. | 29,800 | 1,413,157 |
Mebuki Financial Group, Inc. | 440,380 | 884,807 |
Medipal Holdings Corp. | 82,200 | 1,465,288 |
MEIJI Holdings Co., Ltd. | 52,000 | 3,767,373 |
Mercari, Inc. * | 37,996 | 1,597,441 |
Minebea Mitsumi, Inc. | 159,200 | 2,875,368 |
MISUMI Group, Inc. | 130,100 | 3,863,913 |
Mitsubishi Chemical Holdings Corp. | 583,000 | 3,281,216 |
Mitsubishi Corp. | 601,800 | 13,426,977 |
Mitsubishi Electric Corp. | 811,300 | 10,448,640 |
Mitsubishi Estate Co., Ltd. | 527,602 | 7,869,646 |
Mitsubishi Gas Chemical Co., Inc. | 75,400 | 1,374,495 |
Mitsubishi Heavy Industries Ltd. | 144,800 | 3,111,060 |
Mitsubishi Materials Corp. | 48,500 | 889,938 |
Mitsubishi Motors Corp. * | 336,900 | 617,882 |
Mitsubishi UFJ Financial Group, Inc. | 5,488,909 | 21,636,756 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 173,638 | 735,703 |
Mitsui & Co., Ltd. | 733,800 | 11,493,870 |
Mitsui Chemicals, Inc. | 80,600 | 2,064,355 |
Mitsui Fudosan Co., Ltd. | 413,577 | 7,042,205 |
Miura Co., Ltd. | 38,400 | 1,809,193 |
Mizuho Financial Group, Inc. | 1,080,713 | 13,305,761 |
MonotaRO Co., Ltd. | 57,900 | 3,202,548 |
MS&AD Insurance Group Holdings, Inc. | 198,662 | 5,436,432 |
Murata Manufacturing Co., Ltd. | 257,300 | 18,044,102 |
Nabtesco Corp. | 50,100 | 1,871,647 |
Nagoya Railroad Co., Ltd. | 86,100 | 2,295,015 |
NEC Corp. | 112,500 | 5,666,643 |
Nexon Co., Ltd. | 221,300 | 6,167,829 |
NGK Insulators Ltd. | 113,100 | 1,615,706 |
NGK Spark Plug Co., Ltd. | 67,100 | 1,180,083 |
NH Foods Ltd. | 37,900 | 1,552,496 |
Nidec Corp. | 201,300 | 20,331,700 |
Nihon M&A Center, Inc. | 67,300 | 3,951,960 |
Nikon Corp. | 145,000 | 883,682 |
Nintendo Co., Ltd. | 49,939 | 27,001,455 |
Nippon Building Fund, Inc. | 662 | 3,343,630 |
Nippon Express Co., Ltd. | 32,200 | 1,805,761 |
Nippon Paint Holdings Co., Ltd. | 66,800 | 6,017,341 |
Nippon Prologis REIT, Inc. | 951 | 3,130,158 |
Nippon Sanso Holdings Corp. | 73,500 | 1,077,630 |
Nippon Shinyaku Co., Ltd. | 20,400 | 1,457,705 |
Nippon Steel Corp. * | 365,241 | 3,542,518 |
Nippon Telegraph & Telephone Corp. | 576,612 | 12,129,513 |
Nippon Yusen K.K. | 65,700 | 1,212,662 |
Nissan Chemical Corp. | 54,800 | 2,908,272 |
Nissan Motor Co., Ltd. * | 1,038,396 | 3,676,474 |
Nisshin Seifun Group, Inc. | 87,300 | 1,314,635 |
Nissin Foods Holdings Co., Ltd. | 29,100 | 2,519,753 |
Nitori Holdings Co., Ltd. | 35,700 | 7,338,373 |
Nitto Denko Corp. | 71,700 | 5,037,336 |
Nomura Holdings, Inc. | 1,394,700 | 6,246,077 |
Nomura Real Estate Holdings, Inc. | 53,000 | 925,720 |
Nomura Real Estate Master Fund, Inc. | 1,924 | 2,297,549 |
Nomura Research Institute Ltd. | 144,100 | 4,247,705 |
NSK Ltd. | 155,700 | 1,246,546 |
NTT Data Corp. | 279,000 | 3,148,852 |
NTT DOCOMO, Inc. | 504,000 | 18,766,537 |
Obayashi Corp. | 284,100 | 2,377,445 |
Security | Number of Shares | Value ($) |
Obic Co., Ltd. | 31,100 | 5,506,036 |
Odakyu Electric Railway Co., Ltd. | 130,800 | 3,156,532 |
Oji Holdings Corp. | 403,800 | 1,701,781 |
Olympus Corp. | 524,400 | 10,039,155 |
Omron Corp. | 83,000 | 5,993,100 |
Ono Pharmaceutical Co., Ltd. | 165,400 | 4,718,070 |
Oracle Corp., Japan | 17,100 | 1,708,975 |
Oriental Land Co., Ltd. | 89,000 | 12,458,039 |
ORIX Corp. | 592,200 | 6,925,919 |
Orix JREIT, Inc. | 1,172 | 1,647,140 |
Osaka Gas Co., Ltd. | 169,100 | 3,211,244 |
Otsuka Corp. | 45,700 | 2,099,991 |
Otsuka Holdings Co., Ltd. | 174,500 | 6,462,876 |
Pan Pacific International Holdings Corp. | 185,400 | 3,933,899 |
Panasonic Corp. | 999,512 | 9,233,022 |
Park24 Co., Ltd. * | 49,900 | 674,042 |
PeptiDream, Inc. * | 40,900 | 1,890,115 |
Persol Holdings Co., Ltd. | 85,200 | 1,290,456 |
Pigeon Corp. | 53,700 | 2,472,968 |
Pola Orbis Holdings, Inc. | 41,700 | 822,289 |
Rakuten, Inc. | 387,520 | 3,770,254 |
Recruit Holdings Co., Ltd. | 568,300 | 21,624,182 |
Renesas Electronics Corp. * | 339,900 | 2,805,754 |
Resona Holdings, Inc. | 934,985 | 3,082,621 |
Ricoh Co., Ltd. | 308,900 | 2,028,614 |
Rinnai Corp. | 16,100 | 1,586,437 |
Rohm Co., Ltd. | 39,800 | 3,060,098 |
Ryohin Keikaku Co., Ltd. | 111,402 | 2,338,252 |
Santen Pharmaceutical Co., Ltd. | 157,900 | 2,813,145 |
SBI Holdings, Inc. | 108,290 | 2,496,219 |
SCSK Corp. | 22,400 | 1,113,761 |
Secom Co., Ltd. | 93,900 | 7,932,566 |
Sega Sammy Holdings, Inc. | 75,100 | 941,121 |
Seibu Holdings, Inc. | 95,600 | 955,800 |
Seiko Epson Corp. | 120,600 | 1,400,611 |
Sekisui Chemical Co., Ltd. | 162,600 | 2,534,660 |
Sekisui House Ltd. | 278,500 | 4,626,805 |
Seven & i Holdings Co., Ltd. | 335,103 | 10,185,343 |
Seven Bank Ltd. | 255,900 | 587,276 |
SG Holdings Co., Ltd. | 144,328 | 3,481,254 |
Sharp Corp. | 91,800 | 1,061,541 |
Shimadzu Corp. | 98,800 | 2,825,022 |
Shimamura Co., Ltd. | 9,300 | 991,480 |
Shimano, Inc. | 33,100 | 7,570,485 |
Shimizu Corp. | 257,600 | 1,788,608 |
Shin-Etsu Chemical Co., Ltd. | 158,060 | 21,111,561 |
Shinsei Bank Ltd. | 67,100 | 807,316 |
Shionogi & Co., Ltd. | 118,200 | 5,575,487 |
Shiseido Co., Ltd. | 178,300 | 11,038,018 |
Showa Denko K.K. | 59,200 | 1,006,617 |
SMC Corp. | 25,800 | 13,723,155 |
Softbank Corp. | 1,279,000 | 14,884,316 |
SoftBank Group Corp. | 702,000 | 45,723,908 |
Sohgo Security Services Co., Ltd. | 31,700 | 1,477,055 |
Sompo Holdings, Inc. | 150,300 | 5,611,582 |
Sony Corp. | 564,700 | 47,077,019 |
Square Enix Holdings Co., Ltd. | 42,300 | 2,457,748 |
Stanley Electric Co., Ltd. | 55,847 | 1,590,512 |
Subaru Corp. | 275,400 | 5,054,408 |
Sumco Corp. | 117,000 | 1,784,468 |
Sumitomo Chemical Co., Ltd. | 664,600 | 2,174,029 |
Sumitomo Corp. | 531,700 | 5,817,104 |
Sumitomo Dainippon Pharma Co., Ltd. | 77,300 | 906,034 |
Sumitomo Electric Industries Ltd. | 341,800 | 3,773,497 |
Sumitomo Heavy Industries Ltd. | 54,700 | 1,172,400 |
Sumitomo Metal Mining Co., Ltd. | 103,200 | 3,207,841 |
Security | Number of Shares | Value ($) |
Sumitomo Mitsui Financial Group, Inc. | 582,346 | 16,120,443 |
Sumitomo Mitsui Trust Holdings, Inc. | 151,400 | 4,070,756 |
Sumitomo Realty & Development Co., Ltd. | 138,500 | 3,706,167 |
Sumitomo Rubber Industries Ltd. | 76,200 | 670,272 |
Sundrug Co., Ltd. | 32,300 | 1,199,357 |
Suntory Beverage & Food Ltd. | 61,800 | 2,131,341 |
Suzuken Co., Ltd. | 31,100 | 1,122,730 |
Suzuki Motor Corp. | 164,100 | 7,047,717 |
Sysmex Corp. | 74,800 | 7,025,869 |
T&D Holdings, Inc. | 245,500 | 2,453,546 |
Taiheiyo Cement Corp. | 56,800 | 1,333,213 |
Taisei Corp. | 87,100 | 2,710,370 |
Taisho Pharmaceutical Holdings Co., Ltd. | 15,100 | 908,541 |
Takeda Pharmaceutical Co., Ltd. | 704,590 | 21,773,654 |
TDK Corp. | 57,800 | 6,797,316 |
Teijin Ltd. | 78,300 | 1,199,396 |
Terumo Corp. | 287,700 | 10,588,504 |
The Bank of Kyoto Ltd. | 26,809 | 1,184,006 |
The Chiba Bank Ltd. | 235,900 | 1,218,492 |
The Chugoku Electric Power Co., Inc. | 125,500 | 1,576,765 |
The Kansai Electric Power Co., Inc. | 313,100 | 2,849,327 |
The Shizuoka Bank Ltd. | 195,700 | 1,316,228 |
The Yokohama Rubber Co., Ltd. | 53,000 | 761,312 |
THK Co., Ltd. | 57,042 | 1,514,174 |
TIS, Inc. | 103,700 | 1,983,277 |
Tobu Railway Co., Ltd. | 84,800 | 2,406,315 |
Toho Co., Ltd. | 52,808 | 2,091,240 |
Toho Gas Co., Ltd. | 34,960 | 1,804,697 |
Tohoku Electric Power Co., Inc. | 188,400 | 1,662,270 |
Tokio Marine Holdings, Inc. | 283,699 | 12,679,846 |
Tokyo Century Corp. | 19,377 | 950,024 |
Tokyo Electric Power Co. Holdings, Inc. * | 668,490 | 1,724,955 |
Tokyo Electron Ltd. | 66,700 | 17,903,002 |
Tokyo Gas Co., Ltd. | 169,540 | 3,841,695 |
Tokyu Corp. | 218,600 | 2,593,612 |
Tokyu Fudosan Holdings Corp. | 263,900 | 1,153,195 |
Toppan Printing Co., Ltd. | 119,500 | 1,519,609 |
Toray Industries, Inc. | 608,100 | 2,751,593 |
Toshiba Corp. | 172,417 | 4,361,435 |
Tosoh Corp. | 114,900 | 1,862,487 |
TOTO Ltd. | 62,300 | 2,844,336 |
Toyo Suisan Kaisha Ltd. | 40,600 | 2,020,491 |
Toyoda Gosei Co., Ltd. | 28,600 | 726,866 |
Toyota Industries Corp. | 65,000 | 4,200,519 |
Toyota Motor Corp. | 950,103 | 62,371,304 |
Toyota Tsusho Corp. | 94,469 | 2,636,186 |
Trend Micro, Inc. | 60,100 | 3,366,508 |
Tsuruha Holdings, Inc. | 16,800 | 2,352,419 |
Unicharm Corp. | 180,000 | 8,328,762 |
United Urban Investment Corp. | 1,320 | 1,409,324 |
USS Co., Ltd. | 96,200 | 1,759,553 |
Welcia Holdings Co., Ltd. | 44,100 | 1,727,017 |
West Japan Railway Co. | 73,500 | 3,152,944 |
Yakult Honsha Co., Ltd. | 54,600 | 2,642,259 |
Yamada Holdings Co., Ltd. | 315,500 | 1,538,314 |
Yamaha Corp. | 60,700 | 2,877,494 |
Yamaha Motor Co., Ltd. | 121,700 | 1,740,069 |
Yamato Holdings Co., Ltd. | 141,800 | 3,753,512 |
Yamazaki Baking Co., Ltd. | 54,000 | 886,994 |
Yaskawa Electric Corp. | 108,700 | 4,226,669 |
Yokogawa Electric Corp. | 102,800 | 1,511,298 |
Security | Number of Shares | Value ($) |
Z Holdings Corp. | 1,179,600 | 8,225,421 |
ZOZO, Inc. | 49,300 | 1,250,637 |
1,565,488,275 | ||
Netherlands 4.4% | ||
ABN AMRO Bank N.V. CVA * | 194,980 | 1,601,617 |
Adyen N.V. * | 8,131 | 13,666,122 |
Aegon N.V. | 819,525 | 2,204,536 |
AerCap Holdings N.V. * | 57,785 | 1,434,802 |
Akzo Nobel N.V. | 85,802 | 8,253,146 |
Altice Europe N.V. * | 291,875 | 1,435,049 |
ASML Holding N.V. | 190,496 | 68,922,001 |
Coca-Cola European Partners plc | 92,238 | 3,293,819 |
Heineken Holding N.V. | 52,472 | 4,043,599 |
Heineken N.V. | 116,511 | 10,313,268 |
ING Groep N.V. * | 1,745,086 | 11,953,345 |
Just Eat Takeaway.com N.V * | 56,984 | 6,339,257 |
Koninklijke Ahold Delhaize N.V. | 492,476 | 13,501,607 |
Koninklijke DSM N.V. | 77,101 | 12,330,568 |
Koninklijke KPN N.V. | 1,600,436 | 4,322,424 |
Koninklijke Philips N.V. * | 409,086 | 18,947,534 |
Koninklijke Vopak N.V. | 30,031 | 1,560,961 |
NN Group N.V. | 130,694 | 4,548,273 |
Prosus N.V. * | 217,776 | 21,741,874 |
Randstad N.V. * | 52,951 | 2,642,071 |
Unilever N.V. | 654,584 | 36,901,344 |
Wolters Kluwer N.V. | 121,333 | 9,823,928 |
259,781,145 | ||
New Zealand 0.3% | ||
a2 Milk Co., Ltd. * | 325,699 | 3,153,799 |
Auckland International Airport Ltd. * | 584,053 | 2,701,757 |
Fisher & Paykel Healthcare Corp., Ltd. | 261,022 | 6,038,583 |
Mercury NZ Ltd. | 295,898 | 1,046,105 |
Meridian Energy Ltd. | 576,882 | 2,021,870 |
Ryman Healthcare Ltd. | 172,296 | 1,594,440 |
Spark New Zealand Ltd. | 872,580 | 2,589,525 |
19,146,079 | ||
Norway 0.5% | ||
Adevinta A.S.A. * | 107,717 | 1,664,276 |
DNB A.S.A. * | 422,077 | 5,700,060 |
Equinor A.S.A. | 446,650 | 5,699,124 |
Gjensidige Forsikring A.S.A. | 87,828 | 1,673,562 |
Mowi A.S.A. | 197,267 | 3,116,415 |
Norsk Hydro A.S.A. * | 621,167 | 1,745,706 |
Orkla A.S.A. | 332,852 | 3,142,059 |
Schibsted A.S.A., B Shares * | 42,891 | 1,547,626 |
Telenor A.S.A. | 323,364 | 4,996,711 |
Yara International A.S.A. | 77,928 | 2,727,126 |
32,012,665 | ||
Portugal 0.2% | ||
Banco Espirito Santo S.A. *(a) | 470,491 | — |
EDP - Energias de Portugal S.A. | 1,262,742 | 6,228,687 |
Galp Energia, SGPS, S.A. | 228,427 | 1,855,098 |
Jeronimo Martins, SGPS, S.A. | 112,066 | 1,780,024 |
9,863,809 | ||
Security | Number of Shares | Value ($) |
Singapore 1.0% | ||
Ascendas Real Estate Investment Trust | 1,393,824 | 2,941,135 |
CapitaLand Ltd. | 1,147,814 | 2,159,941 |
CapitaLand Mall Trust | 2,125,636 | 2,694,366 |
City Developments Ltd. | 201,100 | 933,882 |
DBS Group Holdings Ltd. | 804,146 | 11,978,439 |
Genting Singapore Ltd. | 2,721,400 | 1,285,088 |
Jardine Cycle & Carriage Ltd. | 43,200 | 561,952 |
Keppel Corp., Ltd. | 646,900 | 2,078,789 |
Mapletree Commercial Trust | 929,600 | 1,172,111 |
Mapletree Logistics Trust | 1,221,800 | 1,745,332 |
Oversea-Chinese Banking Corp., Ltd. | 1,500,424 | 9,254,234 |
Singapore Airlines Ltd. | 576,350 | 1,430,279 |
Singapore Exchange Ltd. | 369,600 | 2,344,133 |
Singapore Technologies Engineering Ltd. | 681,749 | 1,742,768 |
Singapore Telecommunications Ltd. | 3,661,737 | 5,443,253 |
Suntec Real Estate Investment Trust | 874,500 | 858,808 |
United Overseas Bank Ltd. | 522,433 | 7,258,917 |
UOL Group Ltd. | 202,872 | 924,730 |
Venture Corp., Ltd. | 123,400 | 1,739,540 |
Wilmar International Ltd. | 870,934 | 2,578,441 |
Yangzijiang Shipbuilding Holdings Ltd. | 1,211,600 | 815,707 |
61,941,845 | ||
Spain 2.2% | ||
ACS Actividades de Construccion y Servicios S.A. | 117,684 | 2,797,433 |
Aena SME S.A. * | 30,355 | 4,089,903 |
Amadeus IT Group S.A. | 201,669 | 9,608,752 |
Banco Bilbao Vizcaya Argentaria S.A. | 3,017,054 | 8,704,658 |
Banco Santander S.A. * | 7,501,039 | 15,021,245 |
Bankinter S.A. | 304,756 | 1,145,317 |
CaixaBank S.A. | 1,612,832 | 2,942,757 |
Cellnex Telecom S.A. | 140,542 | 9,021,525 |
Enagas S.A. | 110,257 | 2,379,762 |
Endesa S.A. | 142,974 | 3,835,882 |
Ferrovial S.A. | 216,541 | 4,689,745 |
Grifols S.A. | 134,770 | 3,642,047 |
Iberdrola S.A. | 2,663,602 | 31,450,684 |
Industria de Diseno Textil S.A. | 487,372 | 12,032,885 |
Mapfre S.A. | 462,706 | 698,141 |
Naturgy Energy Group S.A. | 131,387 | 2,440,926 |
Red Electrica Corp. S.A. | 192,298 | 3,387,231 |
Repsol S.A. | 668,788 | 4,198,695 |
Siemens Gamesa Renewable Energy S.A. | 107,383 | 3,047,453 |
Telefonica S.A. | 2,203,931 | 7,169,455 |
132,304,496 | ||
Sweden 3.3% | ||
Alfa Laval AB * | 145,232 | 2,949,922 |
Assa Abloy AB, B Shares | 445,999 | 9,558,858 |
Atlas Copco AB, A Shares | 301,657 | 13,315,489 |
Atlas Copco AB, B Shares | 174,381 | 6,681,544 |
Boliden AB | 123,799 | 3,375,887 |
Electrolux AB, B Shares | 98,890 | 2,229,809 |
Epiroc AB, A Shares | 302,505 | 4,516,885 |
Epiroc AB, B Shares | 172,701 | 2,472,325 |
EQT AB | 103,634 | 1,969,165 |
Essity AB, B Shares | 270,185 | 7,820,044 |
Evolution Gaming Group AB | 57,166 | 4,240,017 |
Hennes & Mauritz AB, B Shares | 356,325 | 5,793,274 |
Security | Number of Shares | Value ($) |
Hexagon AB, B Shares * | 126,302 | 9,257,580 |
Husqvarna AB, B Shares | 191,956 | 1,979,374 |
ICA Gruppen AB | 46,262 | 2,189,967 |
Industrivarden AB, C Shares * | 72,739 | 1,857,325 |
Investment AB Latour | 64,606 | 1,506,552 |
Investor AB, B Shares | 204,364 | 12,249,360 |
Kinnevik AB, B Shares | 107,121 | 4,386,490 |
LE Lundbergfortagen AB, B Shares * | 33,316 | 1,497,418 |
Lundin Energy AB | 86,928 | 1,661,788 |
Nibe Industrier AB, B Shares * | 140,188 | 3,375,560 |
Nordea Bank Abp *(c) | 1,434,636 | 10,767,318 |
Nordea Bank Abp *(c) | 16,453 | 123,928 |
Sandvik AB * | 502,624 | 8,959,316 |
Securitas AB, B Shares * | 136,047 | 1,920,430 |
Skandinaviska Enskilda Banken AB, A Shares * | 725,825 | 6,228,477 |
Skanska AB, B Shares | 153,954 | 2,887,493 |
SKF AB, B Shares | 175,311 | 3,588,785 |
Svenska Cellulosa AB, S.C.A., B Shares * | 272,935 | 3,691,859 |
Svenska Handelsbanken AB, A Shares * | 694,772 | 5,629,515 |
Swedbank AB, A Shares * | 410,797 | 6,431,277 |
Swedish Match AB | 72,344 | 5,439,008 |
Tele2 AB, B Shares | 226,286 | 2,670,615 |
Telefonaktiebolaget LM Ericsson, B Shares | 1,300,779 | 14,522,566 |
Telia Co. AB | 1,098,406 | 4,202,665 |
Volvo AB, B Shares * | 668,183 | 12,987,599 |
194,935,484 | ||
Switzerland 10.1% | ||
ABB Ltd. | 824,899 | 20,016,181 |
Adecco Group AG | 68,865 | 3,376,721 |
Alcon, Inc. * | 220,242 | 12,521,445 |
Baloise Holding AG | 20,963 | 2,866,800 |
Banque Cantonale Vaudoise | 14,339 | 1,389,452 |
Barry Callebaut AG | 1,364 | 2,816,170 |
Chocoladefabriken Lindt & Spruengli AG | 46 | 3,976,900 |
Chocoladefabriken Lindt & Spruengli AG - Participation Certificates | 494 | 3,916,662 |
Cie Financiere Richemont S.A. | 235,253 | 14,704,201 |
Clariant AG | 87,328 | 1,498,174 |
Credit Suisse Group AG | 1,093,123 | 10,309,648 |
EMS-Chemie Holding AG | 3,606 | 3,171,760 |
Geberit AG | 16,465 | 9,371,372 |
Givaudan S.A. | 4,134 | 16,858,196 |
Julius Baer Group Ltd. | 100,103 | 4,455,107 |
Kuehne & Nagel International AG | 23,898 | 4,776,327 |
LafargeHolcim Ltd. * | 233,116 | 10,005,252 |
Logitech International S.A. | 73,262 | 6,163,250 |
Lonza Group AG | 33,501 | 20,298,592 |
Nestle S.A. | 1,332,710 | 149,900,407 |
Novartis AG | 993,909 | 77,447,953 |
Partners Group Holding AG | 8,330 | 7,499,547 |
Roche Holding AG | 314,600 | 101,090,840 |
Schindler Holding AG | 27,291 | 6,998,826 |
SGS S.A. | 2,700 | 6,744,089 |
Sika AG | 63,933 | 15,727,822 |
Sonova Holding AG * | 24,604 | 5,840,198 |
Straumann Holding AG | 4,669 | 4,873,748 |
Swiss Life Holding AG | 14,228 | 4,786,136 |
Swiss Prime Site AG | 34,445 | 2,897,856 |
Swiss Re AG | 132,634 | 9,517,894 |
Swisscom AG | 11,595 | 5,897,227 |
Security | Number of Shares | Value ($) |
Temenos AG | 29,347 | 3,153,970 |
The Swatch Group AG | 21,934 | 896,564 |
The Swatch Group AG - Bearer Shares | 13,026 | 2,758,528 |
UBS Group AG | 1,650,370 | 19,213,557 |
Vifor Pharma AG | 20,750 | 2,335,323 |
Zurich Insurance Group AG | 67,397 | 22,385,615 |
602,458,310 | ||
United Kingdom 13.0% | ||
3i Group plc | 437,524 | 5,464,538 |
Admiral Group plc | 84,322 | 3,003,874 |
Anglo American plc | 546,249 | 12,816,734 |
Antofagasta plc | 172,457 | 2,299,573 |
Ashtead Group plc | 202,447 | 7,315,890 |
Associated British Foods plc | 163,068 | 3,586,149 |
AstraZeneca plc | 587,537 | 58,991,928 |
Auto Trader Group plc | 440,707 | 3,313,423 |
AVEVA Group plc | 29,694 | 1,648,248 |
Aviva plc | 1,779,777 | 5,936,577 |
BAE Systems plc | 1,451,343 | 7,460,470 |
Barclays plc * | 7,798,507 | 10,809,301 |
Barratt Developments plc * | 452,845 | 2,830,546 |
BHP Group plc | 943,167 | 18,271,361 |
BP plc | 9,098,280 | 23,206,830 |
British American Tobacco plc | 1,024,938 | 32,485,790 |
BT Group plc | 3,969,092 | 5,212,803 |
Bunzl plc | 151,290 | 4,703,042 |
Burberry Group plc | 184,929 | 3,247,873 |
Coca-Cola HBC AG * | 86,855 | 1,972,930 |
Compass Group plc | 797,973 | 10,922,442 |
Croda International plc | 57,925 | 4,527,366 |
DCC plc | 44,404 | 2,885,459 |
Diageo plc | 1,044,131 | 33,744,065 |
Direct Line Insurance Group plc | 596,809 | 2,039,539 |
Evraz plc | 240,046 | 1,117,818 |
Experian plc | 407,888 | 14,942,522 |
Ferguson plc | 101,013 | 10,032,702 |
GlaxoSmithKline plc | 2,248,150 | 37,540,685 |
Glencore plc * | 4,471,208 | 9,019,479 |
GVC Holdings plc * | 264,960 | 3,319,162 |
Halma plc | 169,780 | 5,210,138 |
Hargreaves Lansdown plc | 153,362 | 2,692,438 |
Hikma Pharmaceuticals plc | 79,495 | 2,584,658 |
HSBC Holdings plc * | 9,122,150 | 38,227,214 |
Imperial Brands plc | 422,894 | 6,693,435 |
Informa plc * | 658,500 | 3,572,780 |
InterContinental Hotels Group plc * | 78,039 | 3,965,177 |
Intertek Group plc | 71,928 | 5,181,028 |
J. Sainsbury plc | 821,859 | 2,145,236 |
JD Sports Fashion plc | 205,592 | 1,977,893 |
Johnson Matthey plc | 88,905 | 2,474,858 |
Kingfisher plc * | 946,404 | 3,519,661 |
Land Securities Group plc | 313,347 | 2,067,469 |
Legal & General Group plc | 2,711,375 | 6,500,805 |
Lloyds Banking Group plc * | 31,830,308 | 11,589,626 |
London Stock Exchange Group plc | 140,953 | 15,194,426 |
M&G plc | 1,185,637 | 2,255,277 |
Melrose Industries plc * | 2,126,212 | 3,298,323 |
Mondi plc | 214,905 | 4,073,161 |
National Grid plc | 1,567,293 | 18,643,709 |
Natwest Group plc * | 2,117,961 | 3,414,909 |
Next plc | 59,753 | 4,512,936 |
NMC Health plc *(a) | 48,950 | 15,600 |
Ocado Group plc * | 206,559 | 6,091,405 |
Pearson plc | 336,134 | 2,220,760 |
Persimmon plc | 142,323 | 4,309,045 |
Security | Number of Shares | Value ($) |
Prudential plc | 1,164,139 | 14,237,997 |
Reckitt Benckiser Group plc | 317,104 | 27,933,218 |
RELX plc | 865,866 | 17,133,674 |
Rentokil Initial plc * | 843,263 | 5,741,110 |
Rio Tinto plc | 502,453 | 28,419,425 |
Rolls-Royce Holdings plc * | 878,283 | 812,909 |
Royal Dutch Shell plc, A Shares | 1,840,483 | 23,152,318 |
Royal Dutch Shell plc, B Shares | 1,652,809 | 19,931,773 |
RSA Insurance Group plc | 460,132 | 2,526,858 |
Schroders plc | 57,024 | 1,931,829 |
Segro plc | 536,417 | 6,267,868 |
Severn Trent plc | 108,771 | 3,423,256 |
Smith & Nephew plc | 396,760 | 6,889,392 |
Smiths Group plc | 173,831 | 2,995,106 |
Spirax-Sarco Engineering plc | 33,299 | 4,868,095 |
SSE plc | 468,346 | 7,680,631 |
St. James's Place plc | 241,855 | 2,818,733 |
Standard Chartered plc * | 1,189,315 | 5,434,936 |
Standard Life Aberdeen plc | 1,026,113 | 2,989,862 |
Taylor Wimpey plc * | 1,679,407 | 2,300,944 |
Tesco plc | 4,403,748 | 11,720,776 |
The Berkeley Group Holdings plc | 57,562 | 3,026,511 |
The British Land Co., plc | 381,187 | 1,721,407 |
The Sage Group plc | 486,635 | 4,003,994 |
Unilever plc | 522,149 | 29,756,653 |
United Utilities Group plc | 302,872 | 3,385,752 |
Vodafone Group plc | 11,965,684 | 15,961,841 |
Whitbread plc * | 91,011 | 2,533,996 |
WM Morrison Supermarkets plc | 1,068,944 | 2,256,405 |
WPP plc | 553,004 | 4,417,000 |
773,375,355 | ||
Total Common Stock | ||
(Cost $5,183,940,803) | 5,861,683,853 | |
Preferred Stock 0.6% of net assets | ||
Germany 0.6% | ||
Bayerische Motoren Werke AG | 26,610 | 1,375,829 |
Fuchs Petrolub SE | 29,845 | 1,536,161 |
Henkel AG & Co. KGaA | 79,419 | 7,728,309 |
Porsche Automobil Holding SE | 69,293 | 3,712,189 |
Sartorius AG | 15,880 | 6,721,686 |
Volkswagen AG | 82,946 | 12,082,252 |
Total Preferred Stock | ||
(Cost $30,108,759) | 33,156,426 | |
Rights 0.0% of net assets | ||
Singapore 0.0% | ||
Mapletree Logistic Trust expires 12/11/20 *(a) | 23,214 | — |
United Kingdom 0.0% | ||
Rolls-Royce Holdings PLC expires 11/11/20 * | 2,927,610 | 1,479,160 |
Total Rights | ||
(Cost $4,351,445) | 1,479,160 | |
Security | Number of Shares | Value ($) |
Other Investment Company 0.1% of net assets | ||
United States 0.1% | ||
Securities Lending Collateral 0.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (d) | 6,847,633 | 6,847,633 |
Total Other Investment Company | ||
(Cost $6,847,633) | 6,847,633 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.1% of net assets | ||
Time Deposits 0.1% | ||
BNP Paribas | ||
Euro | ||
(0.70%), 11/02/20 (e)(f) | 25,455 | 29,646 |
Brown Brothers Harriman | ||
Australian Dollar | ||
(0.02%), 11/02/20 (e)(f) | 5,510 | 3,873 |
Hong Kong Dollar | ||
0.04%, 11/02/20 (e) | 153,175 | 19,758 |
Singapor Dollar | ||
0.01%, 11/02/20 (e) | 346,254 | 253,490 |
Swedish Krona | ||
(0.26%), 11/02/20 (e)(f) | 1,665,084 | 187,122 |
Citibank | ||
Pound Sterling | ||
0.01%, 11/02/20 (e) | 22,029 | 28,538 |
Sumitomo Mitsui Banking Corp. | ||
Japanese Yen | ||
(0.27%), 11/02/20 (e)(f) | 6,873,797 | 65,656 |
Sumitomo Mitsui Banking Corp. | ||
U.S. Dollar | ||
0.01%, 11/02/20 (e) | 6,333,959 | 6,333,959 |
Total Short-Term Investments | ||
(Cost $6,922,042) | 6,922,042 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI EAFE Index, expires 12/18/20 | 406 | 36,213,170 | (1,705,238) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $5,890,477. |
(c) | Securities are traded on separate exchanges for the same entity. |
(d) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Rate is negative due to the current daily overnight rate at the central bank of the denominated currency and therefore is non-income producing. |
ADR — | American Depositary Receipt |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Automobiles & Components 2.1% | ||
Adient plc * | 125,110 | 2,654,834 |
American Axle & Manufacturing Holdings, Inc. * | 123,305 | 828,610 |
Aptiv plc | 57,425 | 5,540,938 |
Autoliv, Inc. | 32,330 | 2,450,614 |
BorgWarner, Inc. | 113,406 | 3,966,942 |
Cooper Tire & Rubber Co. | 39,632 | 1,362,944 |
Dana, Inc. | 84,648 | 1,184,226 |
Ford Motor Co. | 3,559,027 | 27,511,279 |
General Motors Co. | 941,950 | 32,525,533 |
Gentex Corp. | 54,442 | 1,506,410 |
Harley-Davidson, Inc. | 70,598 | 2,321,262 |
Lear Corp. | 38,185 | 4,613,130 |
The Goodyear Tire & Rubber Co. | 439,439 | 3,638,555 |
Thor Industries, Inc. | 21,633 | 1,829,719 |
Visteon Corp. * | 29,910 | 2,681,432 |
94,616,428 | ||
Banks 5.3% | ||
Bank of America Corp. | 1,482,851 | 35,143,569 |
CIT Group, Inc. | 91,431 | 2,692,643 |
Citigroup, Inc. | 837,980 | 34,709,132 |
Citizens Financial Group, Inc. | 143,147 | 3,900,756 |
Comerica, Inc. | 48,367 | 2,201,182 |
Credicorp Ltd. | 11,618 | 1,332,352 |
Fifth Third Bancorp | 253,936 | 5,896,394 |
First Republic Bank | 10,838 | 1,367,105 |
Huntington Bancshares, Inc. | 210,624 | 2,198,915 |
JPMorgan Chase & Co. | 644,713 | 63,207,662 |
KeyCorp | 208,449 | 2,705,668 |
M&T Bank Corp. | 34,253 | 3,547,926 |
New York Community Bancorp, Inc. | 129,916 | 1,079,602 |
PacWest Bancorp | 41,114 | 791,033 |
People's United Financial, Inc. | 76,346 | 814,612 |
Regions Financial Corp. | 253,308 | 3,368,996 |
The PNC Financial Services Group, Inc. | 102,140 | 11,427,423 |
Truist Financial Corp. | 193,747 | 8,160,624 |
U.S. Bancorp | 369,091 | 14,376,094 |
Wells Fargo & Co. | 1,841,026 | 39,490,008 |
Zions Bancorp NA | 32,590 | 1,051,679 |
239,463,375 | ||
Capital Goods 8.1% | ||
3M Co. | 135,080 | 21,607,397 |
A.O. Smith Corp. | 26,089 | 1,348,540 |
Acuity Brands, Inc. | 12,677 | 1,130,028 |
AECOM * | 56,431 | 2,530,366 |
AerCap Holdings N.V. * | 60,789 | 1,509,391 |
AGCO Corp. | 30,203 | 2,326,537 |
Allison Transmission Holdings, Inc. | 40,608 | 1,467,979 |
AMETEK, Inc. | 25,036 | 2,458,535 |
Carlisle Cos., Inc. | 11,689 | 1,447,916 |
Carrier Global Corp. | 146,799 | 4,901,619 |
Caterpillar, Inc. | 120,723 | 18,959,547 |
Security | Number of Shares | Value ($) |
Cummins, Inc. | 44,891 | 9,871,082 |
Curtiss-Wright Corp. | 8,757 | 738,741 |
Deere & Co. | 64,646 | 14,604,178 |
Donaldson Co., Inc. | 23,812 | 1,131,070 |
Dover Corp. | 27,161 | 3,006,994 |
Eaton Corp. plc | 112,722 | 11,699,416 |
EMCOR Group, Inc. | 20,867 | 1,422,921 |
Emerson Electric Co. | 155,708 | 10,088,321 |
Fastenal Co. | 71,330 | 3,083,596 |
Flowserve Corp. | 42,770 | 1,245,462 |
Fluor Corp. | 337,004 | 3,824,995 |
Fortive Corp. | 30,738 | 1,893,461 |
Fortune Brands Home & Security, Inc. | 31,393 | 2,538,752 |
GATX Corp. | 15,400 | 1,051,512 |
General Dynamics Corp. | 73,015 | 9,589,060 |
General Electric Co. | 4,619,916 | 34,279,777 |
Graco, Inc. | 19,045 | 1,178,886 |
HD Supply Holdings, Inc. * | 43,433 | 1,731,239 |
Hexcel Corp. | 24,234 | 811,354 |
Honeywell International, Inc. | 110,116 | 18,163,634 |
Howmet Aerospace, Inc. | 122,280 | 2,109,330 |
Hubbell, Inc. | 11,579 | 1,684,860 |
Huntington Ingalls Industries, Inc. | 11,372 | 1,677,143 |
IDEX Corp. | 8,359 | 1,424,290 |
Illinois Tool Works, Inc. | 58,124 | 11,385,329 |
ITT, Inc. | 15,762 | 953,759 |
Jacobs Engineering Group, Inc. | 32,739 | 3,110,205 |
Johnson Controls International plc | 193,073 | 8,149,611 |
L3Harris Technologies, Inc. | 19,008 | 3,062,379 |
Lennox International, Inc. | 4,139 | 1,124,401 |
Lincoln Electric Holdings, Inc. | 14,997 | 1,526,995 |
Lockheed Martin Corp. | 31,695 | 11,097,370 |
Masco Corp. | 41,275 | 2,212,340 |
MSC Industrial Direct Co., Inc., Class A | 16,584 | 1,155,241 |
Nordson Corp. | 6,041 | 1,168,511 |
Northrop Grumman Corp. | 27,898 | 8,085,398 |
Oshkosh Corp. | 23,963 | 1,614,148 |
Otis Worldwide Corp. | 77,022 | 4,719,908 |
Owens Corning | 37,944 | 2,484,194 |
PACCAR, Inc. | 88,100 | 7,521,978 |
Parker-Hannifin Corp. | 25,168 | 5,244,005 |
Pentair plc | 36,830 | 1,832,661 |
Quanta Services, Inc. | 58,831 | 3,672,819 |
Raytheon Technologies Corp. | 355,936 | 19,334,444 |
Regal Beloit Corp. | 13,773 | 1,358,706 |
Resideo Technologies, Inc. * | 117,606 | 1,185,469 |
Rockwell Automation, Inc. | 17,570 | 4,166,198 |
Roper Technologies, Inc. | 5,902 | 2,191,649 |
Sensata Technologies Holding plc * | 27,626 | 1,207,532 |
Snap-on, Inc. | 14,239 | 2,243,070 |
Spirit AeroSystems Holdings, Inc., Class A | 72,274 | 1,314,664 |
Stanley Black & Decker, Inc. | 28,177 | 4,683,017 |
Textron, Inc. | 98,633 | 3,531,061 |
The Boeing Co. | 124,822 | 18,023,049 |
The Timken Co. | 20,870 | 1,245,939 |
The Toro Co. | 14,180 | 1,164,178 |
Trane Technologies plc | 47,452 | 6,299,253 |
TransDigm Group, Inc. | 5,495 | 2,623,368 |
Trinity Industries, Inc. | 58,942 | 1,110,467 |
UFP Industries, Inc. | 19,218 | 959,170 |
Security | Number of Shares | Value ($) |
United Rentals, Inc. * | 27,563 | 4,914,207 |
Univar Solutions, Inc. * | 58,416 | 969,121 |
Valmont Industries, Inc. | 8,363 | 1,187,128 |
W.W. Grainger, Inc. | 11,193 | 3,917,774 |
Watsco, Inc. | 7,005 | 1,570,101 |
WESCO International, Inc. * | 50,944 | 2,100,931 |
Westinghouse Air Brake Technologies Corp. | 17,451 | 1,034,844 |
Xylem, Inc. | 20,312 | 1,769,988 |
368,764,509 | ||
Commercial & Professional Services 0.6% | ||
ABM Industries, Inc. | 27,833 | 966,362 |
Cintas Corp. | 8,847 | 2,782,824 |
Equifax, Inc. | 11,943 | 1,631,414 |
IHS Markit Ltd. | 23,901 | 1,932,874 |
ManpowerGroup, Inc. | 48,758 | 3,309,206 |
Nielsen Holdings plc | 192,942 | 2,606,646 |
Pitney Bowes, Inc. | 285,169 | 1,514,247 |
Republic Services, Inc. | 34,679 | 3,057,647 |
Robert Half International, Inc. | 41,320 | 2,094,511 |
Verisk Analytics, Inc. | 8,647 | 1,538,907 |
Waste Management, Inc. | 66,507 | 7,176,770 |
28,611,408 | ||
Consumer Durables & Apparel 1.7% | ||
Brunswick Corp. | 22,563 | 1,437,489 |
Capri Holdings Ltd. * | 135,152 | 2,867,925 |
Carter's, Inc. | 15,065 | 1,227,044 |
D.R. Horton, Inc. | 64,624 | 4,317,529 |
Garmin Ltd. | 18,620 | 1,936,852 |
Hanesbrands, Inc. | 132,023 | 2,121,610 |
Hasbro, Inc. | 24,244 | 2,005,464 |
Leggett & Platt, Inc. | 39,712 | 1,657,182 |
Lennar Corp., Class A | 45,302 | 3,181,559 |
Lululemon Athletica, Inc. * | 4,816 | 1,537,701 |
Mattel, Inc. * | 155,921 | 2,147,032 |
Mohawk Industries, Inc. * | 25,399 | 2,620,923 |
Newell Brands, Inc. | 129,178 | 2,281,283 |
NIKE, Inc., Class B | 139,446 | 16,744,676 |
NVR, Inc. * | 619 | 2,446,963 |
Polaris, Inc. | 17,535 | 1,593,230 |
PulteGroup, Inc. | 75,456 | 3,075,586 |
PVH Corp. | 44,906 | 2,617,571 |
Ralph Lauren Corp. | 24,042 | 1,607,208 |
Skechers U.S.A., Inc., Class A * | 31,714 | 1,005,651 |
Tapestry, Inc. | 141,828 | 3,152,836 |
Taylor Morrison Home Corp. * | 51,050 | 1,102,680 |
Toll Brothers, Inc. | 40,477 | 1,711,368 |
Under Armour, Inc., Class A * | 43,724 | 605,140 |
Under Armour, Inc., Class C * | 44,860 | 548,638 |
VF Corp. | 63,523 | 4,268,746 |
Whirlpool Corp. | 30,403 | 5,623,339 |
75,443,225 | ||
Consumer Services 1.9% | ||
Aramark | 79,744 | 2,212,099 |
Carnival Corp. | 302,432 | 4,146,343 |
Chipotle Mexican Grill, Inc. * | 2,110 | 2,535,123 |
Cracker Barrel Old Country Store, Inc. | 7,553 | 859,682 |
Darden Restaurants, Inc. | 27,222 | 2,502,246 |
Domino's Pizza, Inc. | 4,476 | 1,693,360 |
Extended Stay America, Inc. | 85,873 | 974,659 |
H&R Block, Inc. | 73,908 | 1,275,652 |
Hilton Worldwide Holdings, Inc. | 26,109 | 2,292,631 |
Security | Number of Shares | Value ($) |
Las Vegas Sands Corp. | 85,916 | 4,129,123 |
Marriott International, Inc., Class A | 35,553 | 3,302,163 |
McDonald's Corp. | 116,695 | 24,856,035 |
MGM Resorts International | 133,280 | 2,741,570 |
Norwegian Cruise Line Holdings Ltd. * | 95,420 | 1,586,835 |
Royal Caribbean Cruises Ltd. | 55,872 | 3,152,298 |
Service Corp. International | 23,937 | 1,108,522 |
Six Flags Entertainment Corp. | 40,563 | 876,972 |
Starbucks Corp. | 153,442 | 13,343,316 |
The Wendy's Co. | 50,050 | 1,093,593 |
Wyndham Destinations, Inc. | 34,481 | 1,125,115 |
Wynn Resorts Ltd. | 19,643 | 1,422,742 |
Yum China Holdings, Inc. | 55,542 | 2,956,501 |
Yum! Brands, Inc. | 60,546 | 5,650,758 |
85,837,338 | ||
Diversified Financials 5.2% | ||
Affiliated Managers Group, Inc. | 19,450 | 1,465,947 |
Ally Financial, Inc. | 259,951 | 6,935,493 |
American Express Co. | 161,827 | 14,765,095 |
Ameriprise Financial, Inc. | 41,249 | 6,634,077 |
Annaly Capital Management, Inc. | 214,983 | 1,524,229 |
Berkshire Hathaway, Inc., Class A * | 65 | 19,662,501 |
Berkshire Hathaway, Inc., Class B * | 202,279 | 40,840,130 |
BlackRock, Inc. | 14,453 | 8,660,382 |
Capital One Financial Corp. | 234,101 | 17,108,101 |
Chimera Investment Corp. | 81,659 | 681,853 |
CME Group, Inc. | 21,235 | 3,200,539 |
Discover Financial Services | 171,437 | 11,145,119 |
Equitable Holdings, Inc. | 86,827 | 1,865,912 |
Evercore, Inc., Class A | 14,441 | 1,148,637 |
Franklin Resources, Inc. | 196,567 | 3,685,631 |
Intercontinental Exchange, Inc. | 35,867 | 3,385,845 |
Invesco Ltd. | 240,115 | 3,147,908 |
Jefferies Financial Group, Inc. | 79,155 | 1,544,314 |
Lazard Ltd., Class A | 38,926 | 1,310,638 |
LPL Financial Holdings, Inc. | 16,839 | 1,345,941 |
Moody's Corp. | 10,682 | 2,808,298 |
Morgan Stanley | 269,867 | 12,994,096 |
MSCI, Inc. | 3,745 | 1,310,151 |
Nasdaq, Inc. | 9,790 | 1,184,492 |
Navient Corp. | 220,900 | 1,769,409 |
New Residential Investment Corp. | 145,844 | 1,093,830 |
Northern Trust Corp. | 30,660 | 2,399,758 |
Raymond James Financial, Inc. | 17,982 | 1,374,544 |
S&P Global, Inc. | 14,915 | 4,813,518 |
Santander Consumer USA Holdings, Inc. | 57,074 | 1,160,885 |
SEI Investments Co. | 20,051 | 985,507 |
Starwood Property Trust, Inc. | 59,177 | 826,703 |
State Street Corp. | 78,854 | 4,644,501 |
Synchrony Financial | 339,375 | 8,491,163 |
T. Rowe Price Group, Inc. | 43,130 | 5,462,846 |
The Bank of New York Mellon Corp. | 242,167 | 8,320,858 |
The Charles Schwab Corp. (a) | 129,130 | 5,308,534 |
The Goldman Sachs Group, Inc. | 101,865 | 19,256,560 |
Voya Financial, Inc. | 60,880 | 2,917,978 |
237,181,923 | ||
Energy 5.7% | ||
Antero Resources Corp. * | 575,595 | 1,957,023 |
Apache Corp. | 188,306 | 1,562,940 |
Baker Hughes Co. | 421,619 | 6,227,313 |
Cabot Oil & Gas Corp. | 58,857 | 1,047,066 |
Chevron Corp. | 754,257 | 52,420,862 |
Concho Resources, Inc. | 32,144 | 1,334,297 |
ConocoPhillips | 416,793 | 11,928,616 |
Security | Number of Shares | Value ($) |
Delek US Holdings, Inc. | 56,026 | 563,622 |
Devon Energy Corp. | 152,643 | 1,363,102 |
EOG Resources, Inc. | 125,075 | 4,282,568 |
Exxon Mobil Corp. | 2,315,175 | 75,521,009 |
Halliburton Co. | 393,889 | 4,750,301 |
Helmerich & Payne, Inc. | 80,184 | 1,192,336 |
Hess Corp. | 72,202 | 2,687,358 |
HollyFrontier Corp. | 135,436 | 2,506,920 |
Kinder Morgan, Inc. | 563,743 | 6,708,542 |
Marathon Oil Corp. | 549,042 | 2,174,206 |
Marathon Petroleum Corp. | 420,538 | 12,405,871 |
Murphy Oil Corp. | 127,959 | 987,843 |
Nabors Industries Ltd. (b) | 27,151 | 771,631 |
National Oilwell Varco, Inc. | 373,029 | 3,133,444 |
Occidental Petroleum Corp. | 613,085 | 5,597,466 |
Oceaneering International, Inc. * | 162,209 | 661,813 |
ONEOK, Inc. | 95,107 | 2,758,103 |
Patterson-UTI Energy, Inc. | 233,095 | 596,723 |
PBF Energy, Inc., Class A | 206,928 | 966,354 |
Peabody Energy Corp. * | 255,568 | 329,683 |
Phillips 66 | 321,190 | 14,986,725 |
Pioneer Natural Resources Co. | 25,703 | 2,044,931 |
Schlumberger N.V. | 740,572 | 11,064,146 |
SM Energy Co. | 229,727 | 369,860 |
Targa Resources Corp. | 109,545 | 1,758,197 |
The Williams Cos., Inc. | 264,774 | 5,081,013 |
Transocean Ltd. *(b) | 906,622 | 607,890 |
Valero Energy Corp. | 375,935 | 14,514,850 |
World Fuel Services Corp. | 144,061 | 3,032,484 |
WPX Energy, Inc. * | 124,593 | 574,374 |
260,471,482 | ||
Food & Staples Retailing 3.2% | ||
Casey's General Stores, Inc. | 10,319 | 1,739,474 |
Costco Wholesale Corp. | 73,983 | 26,457,801 |
Performance Food Group Co. * | 45,641 | 1,533,994 |
Rite Aid Corp. *(b) | 155,966 | 1,425,529 |
SpartanNash, Co. | 74,935 | 1,379,553 |
Sprouts Farmers Market, Inc. * | 50,133 | 955,034 |
Sysco Corp. | 111,393 | 6,161,147 |
The Kroger Co. | 527,920 | 17,004,303 |
U.S. Foods Holding Corp. * | 134,336 | 2,807,622 |
United Natural Foods, Inc. * | 165,526 | 2,411,714 |
Walgreens Boots Alliance, Inc. | 538,006 | 18,313,724 |
Walmart, Inc. | 484,857 | 67,273,909 |
147,463,804 | ||
Food, Beverage & Tobacco 4.2% | ||
Altria Group, Inc. | 492,363 | 17,764,457 |
Archer-Daniels-Midland Co. | 423,507 | 19,582,964 |
Brown-Forman Corp., Class B | 21,611 | 1,506,503 |
Bunge Ltd. | 164,935 | 9,356,762 |
Campbell Soup Co. | 32,306 | 1,507,721 |
Coca-Cola European Partners plc | 46,663 | 1,666,336 |
Conagra Brands, Inc. | 91,985 | 3,227,754 |
Constellation Brands, Inc., Class A | 18,807 | 3,107,481 |
Darling Ingredients, Inc. * | 38,635 | 1,661,305 |
Flowers Foods, Inc. | 50,328 | 1,186,734 |
General Mills, Inc. | 125,382 | 7,412,584 |
Hormel Foods Corp. | 47,347 | 2,305,325 |
Ingredion, Inc. | 28,990 | 2,055,101 |
Kellogg Co. | 49,730 | 3,127,520 |
McCormick & Co., Inc. - Non Voting Shares | 8,925 | 1,611,052 |
Molson Coors Beverage Co., Class B | 66,586 | 2,347,822 |
Mondelez International, Inc., Class A | 284,912 | 15,134,525 |
Security | Number of Shares | Value ($) |
Monster Beverage Corp. * | 29,675 | 2,272,215 |
PepsiCo, Inc. | 205,958 | 27,452,142 |
Philip Morris International, Inc. | 321,359 | 22,822,916 |
Sanderson Farms, Inc. | 9,517 | 1,217,890 |
The Coca-Cola Co. | 503,136 | 24,180,716 |
The Hershey Co. | 18,247 | 2,508,233 |
The JM Smucker Co. | 32,167 | 3,609,137 |
The Kraft Heinz Co. | 209,116 | 6,396,858 |
Tyson Foods, Inc., Class A | 114,920 | 6,576,872 |
191,598,925 | ||
Health Care Equipment & Services 5.9% | ||
Abbott Laboratories | 138,522 | 14,560,047 |
AmerisourceBergen Corp. | 48,936 | 4,701,282 |
Anthem, Inc. | 76,928 | 20,985,958 |
Baxter International, Inc. | 50,956 | 3,952,657 |
Becton, Dickinson & Co. | 18,966 | 4,383,612 |
Boston Scientific Corp. * | 61,774 | 2,116,995 |
Cardinal Health, Inc. | 191,257 | 8,757,658 |
Centene Corp. * | 94,166 | 5,565,211 |
Cerner Corp. | 42,821 | 3,001,324 |
Cigna Corp. | 39,478 | 6,591,642 |
CVS Health Corp. | 572,306 | 32,100,644 |
Danaher Corp. | 38,288 | 8,788,627 |
DaVita, Inc. * | 42,079 | 3,629,314 |
DENTSPLY SIRONA, Inc. | 35,880 | 1,693,177 |
Edwards Lifesciences Corp. * | 19,463 | 1,395,302 |
Encompass Health Corp. | 16,491 | 1,011,063 |
HCA Healthcare, Inc. | 71,369 | 8,845,474 |
Henry Schein, Inc. * | 37,883 | 2,408,601 |
Hologic, Inc. * | 25,335 | 1,743,555 |
Humana, Inc. | 34,579 | 13,806,703 |
Intuitive Surgical, Inc. * | 4,173 | 2,783,725 |
Laboratory Corp. of America Holdings * | 16,505 | 3,297,204 |
Magellan Health, Inc. * | 14,972 | 1,082,026 |
McKesson Corp. | 101,270 | 14,936,312 |
MEDNAX, Inc. * | 76,187 | 971,384 |
Medtronic plc | 201,187 | 20,233,377 |
Molina Healthcare, Inc. * | 9,335 | 1,740,697 |
Owens & Minor, Inc. | 145,290 | 3,649,685 |
Patterson Cos., Inc. | 60,262 | 1,499,017 |
Quest Diagnostics, Inc. | 32,997 | 4,030,254 |
ResMed, Inc. | 8,321 | 1,597,133 |
STERIS plc | 7,433 | 1,317,053 |
Stryker Corp. | 26,958 | 5,445,786 |
Tenet Healthcare Corp. * | 63,469 | 1,557,529 |
The Cooper Cos., Inc. | 3,221 | 1,027,660 |
UnitedHealth Group, Inc. | 151,427 | 46,206,435 |
Universal Health Services, Inc., Class B | 27,613 | 3,025,004 |
Varian Medical Systems, Inc. * | 10,735 | 1,855,008 |
Zimmer Biomet Holdings, Inc. | 21,709 | 2,867,759 |
269,161,894 | ||
Household & Personal Products 1.7% | ||
Church & Dwight Co., Inc. | 28,652 | 2,532,550 |
Colgate-Palmolive Co. | 112,669 | 8,888,457 |
Kimberly-Clark Corp. | 43,113 | 5,716,353 |
Nu Skin Enterprises, Inc., Class A | 29,131 | 1,437,615 |
The Clorox Co. | 13,634 | 2,825,646 |
The Estee Lauder Cos., Inc., Class A | 17,210 | 3,780,349 |
The Procter & Gamble Co. | 366,451 | 50,240,432 |
75,421,402 | ||
Security | Number of Shares | Value ($) |
Insurance 3.4% | ||
Aflac, Inc. | 216,436 | 7,348,002 |
Alleghany Corp. | 2,866 | 1,567,501 |
American Financial Group, Inc. | 17,428 | 1,306,054 |
American International Group, Inc. | 715,795 | 22,540,385 |
Aon plc, Class A | 34,078 | 6,270,693 |
Arch Capital Group Ltd. * | 42,914 | 1,296,432 |
Arthur J. Gallagher & Co. | 18,681 | 1,937,407 |
Assurant, Inc. | 11,516 | 1,432,245 |
Assured Guaranty Ltd. | 64,870 | 1,656,131 |
Athene Holding Ltd., Class A * | 29,188 | 936,351 |
Axis Capital Holdings Ltd. | 27,966 | 1,193,869 |
Chubb Ltd. | 74,043 | 9,618,926 |
Cincinnati Financial Corp. | 25,024 | 1,770,198 |
CNO Financial Group, Inc. | 87,634 | 1,555,503 |
Everest Re Group Ltd. | 10,338 | 2,037,413 |
Fidelity National Financial, Inc. | 64,259 | 2,010,664 |
First American Financial Corp. | 26,558 | 1,184,221 |
Genworth Financial, Inc., Class A * | 398,587 | 1,566,447 |
Globe Life, Inc. | 20,326 | 1,648,235 |
Lincoln National Corp. | 88,101 | 3,092,345 |
Loews Corp. | 98,564 | 3,418,200 |
Markel Corp. * | 1,327 | 1,237,826 |
Marsh & McLennan Cos., Inc. | 63,748 | 6,595,368 |
MetLife, Inc. | 281,533 | 10,656,024 |
Old Republic International Corp. | 85,273 | 1,388,244 |
Primerica, Inc. | 7,832 | 863,400 |
Principal Financial Group, Inc. | 81,025 | 3,177,800 |
Prudential Financial, Inc. | 160,587 | 10,280,780 |
Reinsurance Group of America, Inc. | 19,116 | 1,931,098 |
RenaissanceRe Holdings Ltd. | 6,186 | 1,000,400 |
The Allstate Corp. | 100,560 | 8,924,700 |
The Hartford Financial Services Group, Inc. | 101,155 | 3,896,491 |
The Progressive Corp. | 72,323 | 6,646,484 |
The Travelers Cos., Inc. | 141,111 | 17,033,509 |
Unum Group | 110,396 | 1,949,593 |
W.R. Berkley Corp. | 26,119 | 1,570,274 |
Willis Towers Watson plc | 11,377 | 2,076,075 |
154,615,288 | ||
Materials 3.7% | ||
Air Products & Chemicals, Inc. | 20,735 | 5,727,836 |
Albemarle Corp. | 22,530 | 2,100,021 |
Alcoa Corp. * | 211,093 | 2,727,322 |
AptarGroup, Inc. | 8,998 | 1,026,582 |
Arconic Corp. * | 29,319 | 637,395 |
Ashland Global Holdings, Inc. | 15,405 | 1,074,807 |
Avery Dennison Corp. | 15,201 | 2,103,666 |
Ball Corp. | 29,635 | 2,637,515 |
Berry Global Group, Inc. * | 27,944 | 1,303,029 |
Celanese Corp. | 29,467 | 3,344,799 |
CF Industries Holdings, Inc. | 73,333 | 2,024,724 |
Commercial Metals Co. | 65,066 | 1,343,613 |
Corteva, Inc. | 133,280 | 4,395,574 |
Crown Holdings, Inc. * | 18,824 | 1,615,099 |
Domtar Corp. | 59,777 | 1,427,475 |
Dow, Inc. | 117,347 | 5,338,115 |
DuPont de Nemours, Inc. | 266,292 | 15,146,689 |
Eastman Chemical Co. | 57,191 | 4,623,320 |
Ecolab, Inc. | 28,310 | 5,197,433 |
Freeport-McMoRan, Inc. | 314,935 | 5,460,973 |
Graphic Packaging Holding Co. | 94,796 | 1,259,839 |
Huntsman Corp. | 102,033 | 2,478,382 |
International Flavors & Fragrances, Inc. (b) | 11,927 | 1,224,426 |
International Paper Co. | 170,992 | 7,480,900 |
Security | Number of Shares | Value ($) |
Linde plc | 55,853 | 12,306,650 |
LyondellBasell Industries N.V., Class A | 161,499 | 11,054,607 |
Martin Marietta Materials, Inc. | 9,046 | 2,409,402 |
Newmont Corp. | 61,269 | 3,850,144 |
Nucor Corp. | 158,514 | 7,570,629 |
O-I Glass, Inc. | 139,319 | 1,313,778 |
Olin Corp. | 101,926 | 1,686,875 |
Packaging Corp. of America | 24,428 | 2,796,762 |
PPG Industries, Inc. | 59,834 | 7,761,666 |
Reliance Steel & Aluminum Co. | 32,057 | 3,493,892 |
RPM International, Inc. | 19,424 | 1,644,630 |
Sealed Air Corp. | 60,242 | 2,384,981 |
Sonoco Products Co. | 28,690 | 1,402,654 |
Steel Dynamics, Inc. | 98,384 | 3,097,128 |
The Chemours Co. | 77,874 | 1,568,382 |
The Mosaic Co. | 284,275 | 5,259,088 |
The Sherwin-Williams Co. | 6,425 | 4,420,272 |
United States Steel Corp. | 260,909 | 2,520,381 |
Vulcan Materials Co. | 14,781 | 2,140,880 |
WestRock Co. | 145,801 | 5,474,828 |
165,857,163 | ||
Media & Entertainment 4.6% | ||
Activision Blizzard, Inc. | 64,823 | 4,909,046 |
Alphabet, Inc., Class A * | 18,196 | 29,406,738 |
Alphabet, Inc., Class C * | 18,267 | 29,610,990 |
Altice USA, Inc., Class A * | 82,987 | 2,236,500 |
Charter Communications, Inc., Class A * | 18,247 | 11,017,903 |
Cinemark Holdings, Inc. | 56,239 | 460,597 |
Comcast Corp., Class A | 932,411 | 39,385,041 |
Discovery, Inc., Class A * | 36,999 | 748,860 |
Discovery, Inc., Class C * | 82,858 | 1,517,959 |
DISH Network Corp., Class A * | 57,178 | 1,457,467 |
Electronic Arts, Inc. * | 27,774 | 3,328,158 |
Facebook, Inc., Class A * | 97,592 | 25,677,431 |
Fox Corp., Class A | 86,933 | 2,305,463 |
Fox Corp., Class B | 39,444 | 1,031,066 |
IAC/InterActiveCorp * | 5,247 | 633,418 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 36,356 | 1,256,827 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 67,538 | 2,336,815 |
Netflix, Inc. * | 3,242 | 1,542,349 |
News Corp., Class A | 136,042 | 1,786,231 |
News Corp., Class B | 43,760 | 569,755 |
Omnicom Group, Inc. | 59,249 | 2,796,553 |
The Interpublic Group of Cos., Inc. | 97,745 | 1,768,207 |
The Walt Disney Co. | 300,482 | 36,433,442 |
ViacomCBS, Inc., Class B | 303,063 | 8,658,510 |
210,875,326 | ||
Pharmaceuticals, Biotechnology & Life Sciences 6.0% | ||
AbbVie, Inc. | 301,461 | 25,654,331 |
Agilent Technologies, Inc. | 27,630 | 2,820,747 |
Alexion Pharmaceuticals, Inc. * | 18,128 | 2,087,258 |
Amgen, Inc. | 104,429 | 22,654,827 |
Biogen, Inc. * | 25,864 | 6,519,538 |
Bristol-Myers Squibb Co. | 236,044 | 13,796,772 |
Eli Lilly & Co. | 68,164 | 8,892,675 |
Gilead Sciences, Inc. | 424,815 | 24,702,992 |
ICON plc * | 6,047 | 1,090,274 |
Illumina, Inc. * | 4,415 | 1,292,270 |
IQVIA Holdings, Inc. * | 22,729 | 3,500,039 |
Jazz Pharmaceuticals plc * | 8,895 | 1,281,769 |
Johnson & Johnson | 394,308 | 54,063,570 |
Merck & Co., Inc. | 421,770 | 31,721,322 |
Security | Number of Shares | Value ($) |
Mettler-Toledo International, Inc. * | 1,968 | 1,963,887 |
Mylan N.V. * | 220,698 | 3,208,949 |
Perrigo Co., plc | 25,019 | 1,097,584 |
Pfizer, Inc. | 1,343,885 | 47,681,040 |
Regeneron Pharmaceuticals, Inc. * | 4,456 | 2,422,103 |
Thermo Fisher Scientific, Inc. | 23,913 | 11,313,719 |
United Therapeutics Corp. * | 15,590 | 2,092,646 |
Waters Corp. * | 8,467 | 1,886,617 |
Zoetis, Inc. | 19,865 | 3,149,596 |
274,894,525 | ||
Real Estate 1.9% | ||
Alexandria Real Estate Equities, Inc. | 6,290 | 953,061 |
American Tower Corp. | 20,178 | 4,633,878 |
Apple Hospitality REIT, Inc. | 87,913 | 870,339 |
AvalonBay Communities, Inc. | 13,554 | 1,885,768 |
Boston Properties, Inc. | 25,714 | 1,861,951 |
Brixmor Property Group, Inc. | 88,387 | 968,722 |
Camden Property Trust | 10,676 | 984,754 |
CBRE Group, Inc., Class A * | 60,033 | 3,025,663 |
Colony Capital, Inc. | 403,416 | 1,436,161 |
CoreCivic, Inc. | 91,543 | 586,791 |
Crown Castle International Corp. | 30,167 | 4,712,085 |
Digital Realty Trust, Inc. | 62,036 | 8,951,795 |
Diversified Healthcare Trust | 246,521 | 713,678 |
Duke Realty Corp. | 30,816 | 1,170,700 |
Equinix, Inc. | 4,544 | 3,322,755 |
Equity Residential | 45,196 | 2,123,308 |
Essex Property Trust, Inc. | 5,542 | 1,133,838 |
Extra Space Storage, Inc. | 10,213 | 1,184,197 |
Healthpeak Properties, Inc. | 71,696 | 1,933,641 |
Host Hotels & Resorts, Inc. | 281,580 | 2,950,958 |
Iron Mountain, Inc. | 79,860 | 2,081,152 |
Jones Lang LaSalle, Inc. | 16,283 | 1,837,699 |
Kimco Realty Corp. | 84,709 | 869,114 |
Lamar Advertising Co., Class A | 13,970 | 865,581 |
Mid-America Apartment Communities, Inc. | 10,767 | 1,255,755 |
Outfront Media, Inc. | 54,650 | 716,462 |
Park Hotels & Resorts, Inc. | 130,109 | 1,291,982 |
Prologis, Inc. | 33,464 | 3,319,629 |
Public Storage | 12,328 | 2,823,975 |
Realogy Holdings Corp. * | 201,102 | 2,244,298 |
Realty Income Corp. | 20,263 | 1,172,417 |
Service Properties Trust | 143,302 | 1,033,207 |
Simon Property Group, Inc. | 66,833 | 4,197,781 |
SL Green Realty Corp. | 26,442 | 1,131,982 |
The Macerich Co. (b) | 110,764 | 770,918 |
UDR, Inc. | 26,626 | 831,796 |
Ventas, Inc. | 84,663 | 3,341,649 |
VEREIT, Inc. | 216,481 | 1,342,182 |
Vornado Realty Trust | 35,836 | 1,101,240 |
Welltower, Inc. | 72,965 | 3,923,328 |
Weyerhaeuser Co. | 186,158 | 5,080,252 |
WP Carey, Inc. | 14,295 | 895,010 |
87,531,452 | ||
Retailing 5.9% | ||
Aaron's Holdings Co., Inc. | 24,504 | 1,280,579 |
Abercrombie & Fitch Co., Class A | 90,261 | 1,283,511 |
Advance Auto Parts, Inc. | 16,087 | 2,369,293 |
Amazon.com, Inc. * | 9,033 | 27,425,543 |
American Eagle Outfitters, Inc. | 127,451 | 1,747,353 |
Asbury Automotive Group, Inc. * | 10,550 | 1,086,439 |
AutoNation, Inc. * | 34,797 | 1,974,034 |
AutoZone, Inc. * | 1,972 | 2,226,348 |
Security | Number of Shares | Value ($) |
Bed Bath & Beyond, Inc. | 443,907 | 8,789,359 |
Best Buy Co., Inc. | 88,604 | 9,883,776 |
Big Lots, Inc. | 49,643 | 2,363,007 |
Booking Holdings, Inc. * | 5,484 | 8,897,790 |
Burlington Stores, Inc. * | 4,447 | 860,850 |
CarMax, Inc. * | 37,263 | 3,221,014 |
Core-Mark Holding Co., Inc. | 63,506 | 1,736,889 |
Dick's Sporting Goods, Inc. | 47,777 | 2,706,567 |
Dollar General Corp. | 47,480 | 9,909,551 |
Dollar Tree, Inc. * | 44,714 | 4,038,568 |
eBay, Inc. | 173,707 | 8,273,664 |
Expedia Group, Inc. | 26,718 | 2,515,500 |
Foot Locker, Inc. | 92,191 | 3,400,004 |
GameStop Corp., Class A *(b) | 501,778 | 5,253,616 |
Genuine Parts Co. | 41,089 | 3,715,678 |
Group 1 Automotive, Inc. | 15,469 | 1,640,951 |
Kohl's Corp. | 261,740 | 5,572,445 |
L Brands, Inc. | 158,885 | 5,085,909 |
Lithia Motors, Inc., Class A | 7,811 | 1,793,171 |
LKQ Corp. * | 74,294 | 2,376,665 |
Lowe's Cos., Inc. | 144,036 | 22,772,092 |
Macy's, Inc. | 800,350 | 4,970,173 |
Murphy USA, Inc. * | 17,378 | 2,125,156 |
Nordstrom, Inc. (b) | 121,597 | 1,471,324 |
O'Reilly Automotive, Inc. * | 10,615 | 4,634,509 |
Penske Automotive Group, Inc. | 24,516 | 1,254,239 |
Qurate Retail, Inc. Class A | 495,458 | 3,354,251 |
Ross Stores, Inc. | 48,059 | 4,093,185 |
Signet Jewelers Ltd. | 105,764 | 2,356,422 |
Target Corp. | 157,876 | 24,031,885 |
The Gap, Inc. | 271,125 | 5,273,381 |
The Home Depot, Inc. | 144,174 | 38,452,647 |
The ODP Corp. | 85,528 | 1,667,796 |
The TJX Cos., Inc. | 228,907 | 11,628,476 |
Tiffany & Co. | 19,294 | 2,524,427 |
Tractor Supply Co. | 24,803 | 3,304,008 |
Ulta Beauty, Inc. * | 7,389 | 1,527,823 |
Urban Outfitters, Inc. * | 59,177 | 1,322,014 |
Williams-Sonoma, Inc. | 22,698 | 2,070,285 |
270,262,167 | ||
Semiconductors & Semiconductor Equipment 3.8% | ||
Analog Devices, Inc. | 29,017 | 3,439,385 |
Applied Materials, Inc. | 145,513 | 8,618,735 |
Broadcom, Inc. | 30,927 | 10,813,007 |
Intel Corp. | 951,191 | 42,118,737 |
KLA Corp. | 18,502 | 3,648,224 |
Lam Research Corp. | 15,733 | 5,381,945 |
Marvell Technology Group Ltd. | 45,637 | 1,711,844 |
Maxim Integrated Products, Inc. | 34,031 | 2,370,259 |
Microchip Technology, Inc. | 19,827 | 2,083,421 |
Micron Technology, Inc. * | 248,112 | 12,489,958 |
NVIDIA Corp. | 17,899 | 8,973,843 |
NXP Semiconductors N.V. | 45,221 | 6,110,261 |
ON Semiconductor Corp. * | 80,762 | 2,026,319 |
Qorvo, Inc. * | 19,505 | 2,484,157 |
QUALCOMM, Inc. | 266,669 | 32,896,288 |
Skyworks Solutions, Inc. | 27,128 | 3,832,915 |
Teradyne, Inc. | 16,023 | 1,407,620 |
Texas Instruments, Inc. | 132,061 | 19,094,700 |
Xilinx, Inc. | 28,269 | 3,355,248 |
172,856,866 | ||
Software & Services 6.4% | ||
Accenture plc, Class A | 63,390 | 13,749,925 |
Adobe, Inc. * | 11,718 | 5,239,118 |
Security | Number of Shares | Value ($) |
Akamai Technologies, Inc. * | 17,791 | 1,692,280 |
Alliance Data Systems Corp. | 40,708 | 2,098,090 |
Amdocs Ltd. | 34,982 | 1,972,285 |
ANSYS, Inc. * | 3,900 | 1,187,043 |
Autodesk, Inc. * | 5,217 | 1,228,812 |
Automatic Data Processing, Inc. | 41,127 | 6,496,421 |
Booz Allen Hamilton Holding Corp. | 16,797 | 1,318,565 |
Broadridge Financial Solutions, Inc. | 12,465 | 1,715,184 |
CACI International, Inc., Class A * | 4,140 | 863,314 |
Cadence Design Systems, Inc. * | 13,301 | 1,454,730 |
CDK Global, Inc. | 25,218 | 1,086,896 |
Check Point Software Technologies Ltd. * | 14,058 | 1,596,427 |
Citrix Systems, Inc. | 17,574 | 1,990,607 |
Cognizant Technology Solutions Corp., Class A | 120,843 | 8,630,607 |
Conduent, Inc. * | 332,146 | 1,157,529 |
DXC Technology Co. | 235,703 | 4,341,649 |
Fidelity National Information Services, Inc. | 34,116 | 4,250,512 |
Fiserv, Inc. * | 41,143 | 3,927,922 |
FleetCor Technologies, Inc. * | 5,633 | 1,244,386 |
Genpact Ltd. | 28,869 | 992,228 |
Global Payments, Inc. | 10,525 | 1,660,214 |
International Business Machines Corp. | 332,909 | 37,172,619 |
Intuit, Inc. | 15,277 | 4,807,366 |
Jack Henry & Associates, Inc. | 6,824 | 1,011,658 |
Leidos Holdings, Inc. | 25,277 | 2,097,991 |
Mastercard, Inc., Class A | 36,189 | 10,445,593 |
MAXIMUS, Inc. | 13,907 | 939,835 |
Microsoft Corp. | 480,237 | 97,233,585 |
NortonLifeLock, Inc. | 176,070 | 3,621,760 |
Oracle Corp. | 471,646 | 26,464,057 |
Paychex, Inc. | 35,297 | 2,903,178 |
PayPal Holdings, Inc. * | 39,108 | 7,279,172 |
Perspecta, Inc. | 43,399 | 778,144 |
Sabre Corp. | 113,186 | 737,973 |
salesforce.com, Inc. * | 12,007 | 2,788,866 |
Science Applications International Corp. | 11,151 | 851,602 |
Synopsys, Inc. * | 7,207 | 1,541,289 |
Teradata Corp. * | 56,446 | 1,036,913 |
The Western Union Co. | 107,384 | 2,087,545 |
VeriSign, Inc. * | 4,924 | 939,007 |
Visa, Inc., Class A | 84,709 | 15,392,472 |
290,025,369 | ||
Technology Hardware & Equipment 8.4% | ||
Amphenol Corp., Class A | 31,116 | 3,511,129 |
Apple Inc. | 2,350,490 | 255,874,341 |
Arrow Electronics, Inc. * | 55,856 | 4,350,624 |
Avnet, Inc. | 166,414 | 4,105,433 |
CDW Corp. | 19,701 | 2,415,343 |
Cisco Systems, Inc. | 938,540 | 33,693,586 |
CommScope Holding Co., Inc. * | 107,985 | 961,067 |
Corning, Inc. | 363,485 | 11,620,615 |
Dell Technologies, Inc., Class C * | 21,803 | 1,313,849 |
F5 Networks, Inc. * | 14,562 | 1,935,872 |
Flex Ltd. * | 283,682 | 4,014,100 |
FLIR Systems, Inc. | 21,915 | 760,231 |
Hewlett Packard Enterprise Co. | 1,052,892 | 9,096,987 |
HP, Inc. | 406,300 | 7,297,148 |
Insight Enterprises, Inc. * | 17,405 | 928,557 |
Jabil, Inc. | 83,290 | 2,760,231 |
Juniper Networks, Inc. | 163,506 | 3,224,338 |
Motorola Solutions, Inc. | 30,268 | 4,784,160 |
NCR Corp. * | 52,066 | 1,057,981 |
NetApp, Inc. | 79,883 | 3,506,065 |
Sanmina Corp. * | 49,336 | 1,205,772 |
Seagate Technology plc | 113,395 | 5,422,549 |
Security | Number of Shares | Value ($) |
SYNNEX Corp. | 15,405 | 2,027,914 |
TE Connectivity Ltd. | 65,878 | 6,382,261 |
Trimble, Inc. * | 25,590 | 1,231,647 |
Vontier Corp. * | 12,295 | 353,358 |
Western Digital Corp. | 145,346 | 5,483,905 |
Xerox Holdings Corp. | 101,432 | 1,762,888 |
381,081,951 | ||
Telecommunication Services 3.5% | ||
AT&T, Inc. | 2,518,612 | 68,052,896 |
CenturyLink, Inc. | 932,916 | 8,041,736 |
Liberty Global plc, Class A * | 89,896 | 1,706,226 |
Liberty Global plc, Class C * | 218,949 | 4,085,588 |
T-Mobile US, Inc. * | 68,861 | 7,545,100 |
Telephone & Data Systems, Inc. | 75,434 | 1,282,378 |
Verizon Communications, Inc. | 1,190,105 | 67,824,084 |
158,538,008 | ||
Transportation 2.7% | ||
American Airlines Group, Inc. (b) | 171,807 | 1,937,983 |
Avis Budget Group, Inc. * | 86,033 | 2,896,731 |
C.H. Robinson Worldwide, Inc. | 43,407 | 3,838,481 |
CSX Corp. | 139,941 | 11,046,943 |
Delta Air Lines, Inc. | 85,504 | 2,619,843 |
Expeditors International of Washington, Inc. | 41,864 | 3,699,522 |
FedEx Corp. | 101,140 | 26,242,796 |
Hertz Global Holdings, Inc. * | 699,451 | 489,616 |
JB Hunt Transport Services, Inc. | 17,357 | 2,113,041 |
Kansas City Southern | 13,422 | 2,364,151 |
Kirby Corp. * | 17,777 | 684,237 |
Knight-Swift Transportation Holdings, Inc. | 27,825 | 1,057,072 |
Landstar System, Inc. | 9,783 | 1,219,940 |
Macquarie Infrastructure Corp. | 32,953 | 850,187 |
Norfolk Southern Corp. | 47,796 | 9,995,099 |
Old Dominion Freight Line, Inc. | 9,014 | 1,715,995 |
Ryder System, Inc. | 62,224 | 3,065,154 |
Southwest Airlines Co. | 61,676 | 2,438,052 |
Union Pacific Corp. | 134,785 | 23,882,554 |
United Airlines Holdings, Inc. * | 51,531 | 1,744,840 |
United Parcel Service, Inc., Class B | 102,832 | 16,155,935 |
XPO Logistics, Inc. * | 21,645 | 1,948,050 |
122,006,222 | ||
Utilities 3.8% | ||
Alliant Energy Corp. | 35,323 | 1,952,655 |
Ameren Corp. | 46,319 | 3,757,397 |
American Electric Power Co., Inc. | 98,767 | 8,882,116 |
American Water Works Co., Inc. | 18,178 | 2,735,971 |
Atmos Energy Corp. | 16,005 | 1,467,178 |
CenterPoint Energy, Inc. | 165,342 | 3,493,676 |
CMS Energy Corp. | 50,311 | 3,186,196 |
Consolidated Edison, Inc. | 83,691 | 6,568,907 |
Dominion Energy, Inc. | 112,621 | 9,047,971 |
DTE Energy Co. | 39,226 | 4,841,273 |
Duke Energy Corp. | 180,713 | 16,645,474 |
Edison International | 88,178 | 4,941,495 |
Entergy Corp. | 41,329 | 4,183,321 |
Evergy, Inc. | 59,062 | 3,260,222 |
Eversource Energy | 52,234 | 4,558,461 |
Exelon Corp. | 328,376 | 13,098,919 |
FirstEnergy Corp. | 123,436 | 3,668,518 |
MDU Resources Group, Inc. | 58,015 | 1,378,436 |
NextEra Energy, Inc. | 195,828 | 14,336,568 |
NiSource, Inc. | 71,042 | 1,631,835 |
Security | Number of Shares | Value ($) |
NRG Energy, Inc. | 41,127 | 1,300,436 |
OGE Energy Corp. | 41,471 | 1,276,063 |
PG&E Corp. * | 481,238 | 4,600,635 |
Pinnacle West Capital Corp. | 27,657 | 2,255,982 |
Portland General Electric Co. | 21,669 | 851,592 |
PPL Corp. | 208,692 | 5,739,030 |
Public Service Enterprise Group, Inc. | 117,016 | 6,804,480 |
Sempra Energy | 40,296 | 5,051,507 |
Southwest Gas Holdings, Inc. | 13,312 | 874,865 |
The AES Corp. | 280,065 | 5,461,268 |
The Southern Co. | 204,376 | 11,741,401 |
UGI Corp. | 64,010 | 2,070,083 |
Vistra Corp. | 123,941 | 2,152,855 |
WEC Energy Group, Inc. | 42,796 | 4,303,138 |
Xcel Energy, Inc. | 88,962 | 6,230,009 |
174,349,933 | ||
Total Common Stock | ||
(Cost $3,097,661,049) | 4,536,929,983 | |
Other Investment Companies 0.3% of net assets | ||
Money Market Fund 0.0% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 1,383,897 | 1,383,897 |
Securities Lending Collateral 0.3% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 11,209,213 | 11,209,213 |
Total Other Investment Companies | ||
(Cost $12,593,110) | 12,593,110 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
S&P 500 Index, e-mini, expires 12/18/20 | 59 | 9,630,865 | (541,323) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $10,257,993. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 99.3% of net assets | ||
Automobiles & Components 1.7% | ||
BorgWarner, Inc. | 1 | 35 |
Cooper-Standard Holdings, Inc. * | 161,775 | 2,538,250 |
Dorman Products, Inc. * | 20,242 | 1,807,003 |
Fox Factory Holding Corp. * | 5,391 | 453,275 |
Gentherm, Inc. * | 29,843 | 1,381,432 |
LCI Industries | 22,124 | 2,426,118 |
Modine Manufacturing Co. * | 169,516 | 1,084,902 |
Patrick Industries, Inc. | 17,753 | 989,730 |
Standard Motor Products, Inc. | 26,640 | 1,220,112 |
Stoneridge, Inc. * | 26,496 | 604,904 |
Tenneco, Inc., Class A * | 355,367 | 3,063,264 |
Tesla, Inc. * | 12,646 | 4,907,154 |
Veoneer, Inc. * | 126,644 | 1,946,518 |
Winnebago Industries, Inc. | 20,265 | 951,442 |
23,374,139 | ||
Banks 7.6% | ||
Associated Banc-Corp. | 126,808 | 1,736,002 |
Atlantic Union Bankshares Corp. | 28,002 | 708,171 |
Axos Financial, Inc. * | 20,006 | 545,364 |
BancorpSouth Bank | 60,943 | 1,426,676 |
Bank of Hawaii Corp. | 25,790 | 1,563,906 |
Bank OZK | 70,418 | 1,744,958 |
BankUnited, Inc. | 99,778 | 2,519,394 |
Banner Corp. | 20,858 | 769,034 |
Berkshire Hills Bancorp, Inc. | 33,361 | 434,694 |
BOK Financial Corp. | 20,249 | 1,189,426 |
Boston Private Financial Holdings, Inc. | 87,292 | 539,465 |
Brookline Bancorp, Inc. | 40,252 | 385,614 |
Cadence BanCorp | 48,009 | 538,661 |
Capitol Federal Financial, Inc. | 90,533 | 1,039,319 |
Cathay General Bancorp | 46,656 | 1,097,816 |
Central Pacific Financial Corp. | 32,745 | 450,899 |
Columbia Banking System, Inc. | 39,313 | 1,116,882 |
Commerce Bancshares, Inc. | 35,463 | 2,207,572 |
Community Bank System, Inc. | 17,194 | 997,080 |
Cullen/Frost Bankers, Inc. | 29,544 | 2,076,057 |
CVB Financial Corp. | 44,328 | 775,740 |
Eagle Bancorp, Inc. | 12,393 | 370,799 |
East West Bancorp, Inc. | 84,238 | 3,073,002 |
Essent Group Ltd. | 29,208 | 1,163,939 |
F.N.B. Corp. | 248,016 | 1,875,001 |
Federal Agricultural Mortgage Corp., Class C | 6,149 | 397,164 |
First BanCorp | 132,525 | 860,087 |
First Citizens BancShares, Inc., Class A | 3,290 | 1,522,283 |
First Commonwealth Financial Corp. | 66,121 | 569,963 |
First Financial Bancorp | 50,505 | 722,221 |
First Financial Bankshares, Inc. | 25,743 | 767,399 |
First Hawaiian, Inc. | 89,782 | 1,549,637 |
First Horizon National Corp. | 331,544 | 3,451,373 |
First Interstate BancSystem, Inc., Class A | 13,419 | 473,691 |
First Merchants Corp. | 16,747 | 437,264 |
First Midwest Bancorp, Inc. | 59,997 | 752,962 |
Flagstar Bancorp, Inc. | 17,962 | 527,185 |
Security | Number of Shares | Value ($) |
Fulton Financial Corp. | 142,595 | 1,567,119 |
Glacier Bancorp, Inc. | 30,819 | 1,103,320 |
Great Western Bancorp, Inc. | 58,281 | 757,070 |
Hancock Whitney Corp. | 71,715 | 1,640,122 |
Heartland Financial USA, Inc. | 12,722 | 419,063 |
Hilltop Holdings, Inc. | 42,815 | 976,610 |
Home BancShares, Inc. | 79,099 | 1,313,043 |
Hope Bancorp, Inc. | 102,833 | 829,862 |
Independent Bank Corp. | 9,539 | 546,489 |
International Bancshares Corp. | 33,961 | 940,040 |
Investors Bancorp, Inc. | 151,991 | 1,285,844 |
MGIC Investment Corp. | 276,134 | 2,777,908 |
National Bank Holdings Corp., Class A | 20,451 | 616,598 |
NBT Bancorp, Inc. | 24,424 | 668,729 |
Northwest Bancshares, Inc. | 77,849 | 830,649 |
OFG Bancorp | 51,611 | 742,682 |
Old National Bancorp | 87,449 | 1,222,537 |
Park National Corp. | 8,467 | 776,001 |
Pinnacle Financial Partners, Inc. | 22,545 | 1,032,336 |
Popular, Inc. | 67,224 | 2,836,853 |
Prosperity Bancshares, Inc. | 34,376 | 1,894,461 |
Provident Financial Services, Inc. | 47,237 | 641,006 |
Radian Group, Inc. | 147,945 | 2,655,613 |
Renasant Corp. | 21,500 | 612,965 |
S&T Bancorp, Inc. | 17,942 | 355,072 |
Sandy Spring Bancorp, Inc. | 15,881 | 402,583 |
Signature Bank | 21,202 | 1,711,849 |
Simmons First National Corp., Class A | 38,123 | 647,710 |
South State Corp. | 16,351 | 1,003,951 |
Sterling Bancorp | 80,563 | 1,077,933 |
SVB Financial Group * | 14,588 | 4,240,732 |
Synovus Financial Corp. | 125,910 | 3,273,660 |
TCF Financial Corp. | 50,421 | 1,371,955 |
Texas Capital Bancshares, Inc. * | 31,774 | 1,429,830 |
The Bank of N.T. Butterfield & Son Ltd. | 34,056 | 901,122 |
Towne Bank | 25,060 | 455,591 |
Trustmark Corp. | 45,631 | 1,067,309 |
UMB Financial Corp. | 21,848 | 1,329,888 |
Umpqua Holdings Corp. | 197,817 | 2,484,581 |
United Bankshares, Inc. | 55,368 | 1,452,303 |
United Community Banks, Inc. | 37,063 | 776,099 |
Valley National Bancorp | 182,420 | 1,393,689 |
Walker & Dunlop, Inc. | 23,254 | 1,462,212 |
Washington Federal, Inc. | 70,586 | 1,502,776 |
Webster Financial Corp. | 62,245 | 2,004,911 |
WesBanco, Inc. | 30,012 | 728,991 |
Westamerica Bancorp | 9,883 | 517,573 |
Western Alliance Bancorp | 30,032 | 1,237,318 |
Wintrust Financial Corp. | 33,725 | 1,660,282 |
WSFS Financial Corp. | 13,812 | 437,702 |
105,991,242 | ||
Capital Goods 11.6% | ||
AAON, Inc. | 13,321 | 778,080 |
AAR Corp. | 72,846 | 1,417,583 |
Advanced Drainage Systems, Inc. | 8,529 | 540,994 |
Aegion Corp. * | 63,269 | 892,726 |
Aerojet Rocketdyne Holdings, Inc. * | 14,604 | 473,462 |
Air Lease Corp. | 78,255 | 2,131,666 |
Security | Number of Shares | Value ($) |
Alamo Group, Inc. | 8,580 | 1,032,431 |
Albany International Corp., Class A | 16,309 | 830,780 |
Allegion plc | 25,207 | 2,482,889 |
Altra Industrial Motion Corp. | 28,950 | 1,237,902 |
American Woodmark Corp. * | 12,022 | 993,137 |
Apogee Enterprises, Inc. | 52,963 | 1,265,286 |
Applied Industrial Technologies, Inc. | 44,157 | 2,695,785 |
Arcosa, Inc. | 65,593 | 3,028,429 |
Argan, Inc. | 20,121 | 828,784 |
Armstrong World Industries, Inc. | 20,070 | 1,202,193 |
Astec Industries, Inc. | 30,948 | 1,572,158 |
Astronics Corp. * | 36,612 | 234,317 |
Atkore International Group, Inc. * | 36,233 | 749,661 |
AZZ, Inc. | 33,037 | 1,109,713 |
Barnes Group, Inc. | 44,395 | 1,629,296 |
Beacon Roofing Supply, Inc. * | 93,394 | 2,867,196 |
BMC Stock Holdings, Inc. * | 73,237 | 2,899,453 |
Builders FirstSource, Inc. * | 76,167 | 2,307,860 |
BWX Technologies, Inc. | 37,778 | 2,078,168 |
CAI International, Inc. | 20,316 | 535,327 |
Chart Industries, Inc. * | 16,496 | 1,393,087 |
CIRCOR International, Inc. * | 28,150 | 785,385 |
Colfax Corp. * | 92,174 | 2,506,211 |
Columbus McKinnon Corp. | 14,075 | 477,002 |
Comfort Systems USA, Inc. | 34,496 | 1,579,917 |
Crane Co. | 42,393 | 2,151,445 |
Cubic Corp. | 23,731 | 1,402,739 |
Douglas Dynamics, Inc. | 12,234 | 417,302 |
DXP Enterprises, Inc. * | 32,190 | 503,452 |
Dycom Industries, Inc. * | 54,141 | 3,515,917 |
Encore Wire Corp. | 29,383 | 1,357,788 |
Enerpac Tool Group Corp. | 63,849 | 1,138,428 |
EnerSys | 45,743 | 3,275,199 |
EnPro Industries, Inc. | 22,054 | 1,301,627 |
ESCO Technologies, Inc. | 9,892 | 827,861 |
Federal Signal Corp. | 33,737 | 967,577 |
Franklin Electric Co., Inc. | 27,561 | 1,646,219 |
Generac Holdings, Inc. * | 16,829 | 3,536,614 |
Gibraltar Industries, Inc. * | 17,827 | 1,024,161 |
GMS, Inc. * | 54,165 | 1,224,129 |
Granite Construction, Inc. | 118,934 | 2,296,616 |
Griffon Corp. | 56,444 | 1,210,159 |
H&E Equipment Services, Inc. | 63,001 | 1,325,541 |
HEICO Corp. | 6,343 | 666,332 |
HEICO Corp., Class A | 12,364 | 1,156,034 |
Herc Holdings, Inc. * | 36,657 | 1,626,105 |
Hillenbrand, Inc. | 77,465 | 2,265,851 |
Hyster-Yale Materials Handling, Inc. | 22,899 | 970,918 |
Ingersoll Rand, Inc. * | 63,860 | 2,231,268 |
Insteel Industries, Inc. | 32,585 | 709,050 |
JELD-WEN Holding, Inc. * | 78,656 | 1,654,136 |
John Bean Technologies Corp. | 10,895 | 914,853 |
Kadant, Inc. | 4,357 | 501,578 |
Kaman Corp. | 31,234 | 1,238,740 |
Kennametal, Inc. | 74,503 | 2,309,593 |
Lindsay Corp. | 9,572 | 1,007,932 |
Lydall, Inc. * | 38,892 | 769,673 |
Masonite International Corp. * | 26,302 | 2,314,576 |
MasTec, Inc. * | 66,258 | 3,289,047 |
Maxar Technologies, Inc. | 76,119 | 1,961,587 |
Meritor, Inc. * | 65,565 | 1,595,852 |
Moog, Inc., Class A | 44,859 | 2,798,753 |
MRC Global, Inc. * | 264,518 | 1,126,847 |
Mueller Industries, Inc. | 86,643 | 2,506,582 |
Mueller Water Products, Inc., Class A | 116,784 | 1,209,882 |
MYR Group, Inc. * | 35,456 | 1,515,744 |
National Presto Industries, Inc. | 6,891 | 572,573 |
Navistar International Corp. * | 35,327 | 1,522,947 |
Security | Number of Shares | Value ($) |
NOW, Inc. * | 311,708 | 1,268,652 |
nVent Electric plc | 149,069 | 2,690,695 |
Primoris Services Corp. | 83,525 | 1,576,117 |
Proto Labs, Inc. * | 5,657 | 667,979 |
Quanex Building Products Corp. | 55,527 | 1,010,591 |
Raven Industries, Inc. | 27,678 | 606,702 |
RBC Bearings, Inc. * | 7,357 | 875,851 |
REV Group, Inc. | 61,110 | 479,713 |
Rexnord Corp. | 59,591 | 1,911,679 |
Rush Enterprises, Inc., Class A | 94,465 | 3,385,626 |
Simpson Manufacturing Co., Inc. | 21,537 | 1,910,763 |
SiteOne Landscape Supply, Inc. * | 8,428 | 1,007,062 |
SPX FLOW, Inc. * | 36,547 | 1,547,765 |
Standex International Corp. | 13,348 | 828,777 |
Teledyne Technologies, Inc. * | 9,602 | 2,968,458 |
Tennant Co. | 11,781 | 702,383 |
Terex Corp. | 160,777 | 3,969,584 |
The Greenbrier Cos., Inc. | 112,976 | 3,048,092 |
The Manitowoc Co., Inc. * | 54,782 | 412,508 |
The Middleby Corp. * | 31,711 | 3,156,513 |
Titan Machinery, Inc. * | 62,426 | 935,766 |
Trex Co., Inc. * | 19,264 | 1,339,619 |
TriMas Corp. * | 32,710 | 795,834 |
Triton International Ltd. | 51,916 | 1,914,662 |
Tutor Perini Corp. * | 218,957 | 2,958,109 |
Vectrus, Inc. * | 14,184 | 560,552 |
Wabash National Corp. | 161,579 | 2,304,117 |
Watts Water Technologies, Inc., Class A | 15,429 | 1,709,070 |
Welbilt, Inc. * | 97,412 | 592,265 |
Woodward, Inc. | 30,410 | 2,419,115 |
161,670,724 | ||
Commercial & Professional Services 5.2% | ||
ACCO Brands Corp. | 192,547 | 1,014,723 |
ADT, Inc. | 80,800 | 532,472 |
ASGN, Inc. * | 38,624 | 2,575,448 |
Brady Corp., Class A | 29,657 | 1,118,662 |
CBIZ, Inc. * | 32,021 | 725,916 |
Cimpress plc * | 7,681 | 563,785 |
Clean Harbors, Inc. * | 41,202 | 2,182,470 |
Copart, Inc. * | 31,534 | 3,480,092 |
CoreLogic, Inc. | 53,508 | 4,116,370 |
CoStar Group, Inc. * | 2,298 | 1,892,656 |
Covanta Holding Corp. | 175,402 | 1,592,650 |
Deluxe Corp. | 103,339 | 2,215,588 |
Exponent, Inc. | 10,753 | 748,301 |
FTI Consulting, Inc. * | 19,487 | 1,918,690 |
Harsco Corp. * | 97,850 | 1,262,265 |
Healthcare Services Group, Inc. | 80,245 | 1,836,006 |
Herman Miller, Inc. | 80,991 | 2,467,796 |
HNI Corp. | 69,276 | 2,254,934 |
Huron Consulting Group, Inc. * | 15,668 | 593,190 |
IAA, Inc. * | 45,838 | 2,593,972 |
ICF International, Inc. | 15,784 | 1,032,116 |
Insperity, Inc. | 16,811 | 1,287,386 |
Interface, Inc. | 106,973 | 655,745 |
KAR Auction Services, Inc. | 104,795 | 1,525,815 |
Kelly Services, Inc., Class A | 177,834 | 3,090,755 |
Kforce, Inc. | 32,660 | 1,133,302 |
Knoll, Inc. | 72,413 | 829,853 |
Korn Ferry | 53,995 | 1,630,109 |
Matthews International Corp., Class A | 49,147 | 1,072,879 |
McGrath RentCorp | 15,885 | 906,716 |
MSA Safety, Inc. | 10,732 | 1,415,765 |
Quad Graphics, Inc. | 357,362 | 811,212 |
Resources Connection, Inc. | 71,595 | 768,930 |
Rollins, Inc. | 33,083 | 1,913,852 |
Security | Number of Shares | Value ($) |
RR Donnelley & Sons Co. | 988,963 | 1,157,087 |
SP Plus Corp. * | 39,224 | 722,898 |
Steelcase, Inc., Class A | 164,893 | 1,721,483 |
Stericycle, Inc. * | 49,326 | 3,073,010 |
Team, Inc. * | 86,593 | 464,138 |
Tetra Tech, Inc. | 27,866 | 2,811,958 |
The Brink's Co. | 26,091 | 1,117,478 |
TransUnion | 30,430 | 2,424,054 |
TriNet Group, Inc. * | 9,256 | 637,924 |
TrueBlue, Inc. * | 120,598 | 1,871,681 |
U.S. Ecology, Inc. | 14,349 | 437,931 |
UniFirst Corp. | 10,739 | 1,759,156 |
Viad Corp. | 42,160 | 843,200 |
72,802,419 | ||
Consumer Durables & Apparel 5.1% | ||
Acushnet Holdings Corp. | 25,741 | 878,540 |
American Outdoor Brands, Inc. * | 24,830 | 375,678 |
Beazer Homes USA, Inc. * | 69,563 | 847,277 |
Callaway Golf Co. | 62,173 | 963,060 |
Cavco Industries, Inc. * | 4,138 | 712,315 |
Century Communities, Inc. * | 15,585 | 605,321 |
Columbia Sportswear Co. | 20,292 | 1,513,580 |
Crocs, Inc. * | 22,449 | 1,174,756 |
Deckers Outdoor Corp. * | 17,568 | 4,451,204 |
Ethan Allen Interiors, Inc. | 76,143 | 1,222,095 |
Fossil Group, Inc. * | 597,356 | 3,410,903 |
G-III Apparel Group Ltd. * | 151,022 | 2,035,777 |
Helen of Troy Ltd. * | 14,531 | 2,755,078 |
iRobot Corp. * | 18,419 | 1,465,784 |
KB Home | 63,456 | 2,046,456 |
Kontoor Brands, Inc. * | 108,139 | 3,557,773 |
La-Z-Boy, Inc. | 71,642 | 2,452,306 |
LGI Homes, Inc. * | 6,575 | 702,736 |
M.D.C. Holdings, Inc. | 47,247 | 2,056,190 |
M/I Homes, Inc. * | 30,958 | 1,266,801 |
Meritage Homes Corp. * | 33,129 | 2,885,205 |
Movado Group, Inc. | 47,918 | 522,785 |
Oxford Industries, Inc. | 25,312 | 1,042,095 |
Smith & Wesson Brands, Inc. | 99,880 | 1,657,009 |
Steven Madden Ltd. | 98,316 | 2,360,567 |
Sturm, Ruger & Co., Inc. | 22,708 | 1,518,257 |
Tempur Sealy International, Inc. * | 23,339 | 2,077,171 |
TopBuild Corp. * | 15,357 | 2,352,846 |
TRI Pointe Group, Inc. * | 175,780 | 2,888,066 |
Tupperware Brands Corp. * | 396,367 | 12,572,762 |
Universal Electronics, Inc. * | 14,765 | 547,191 |
Vista Outdoor, Inc. * | 181,182 | 3,581,968 |
Wolverine World Wide, Inc. | 98,771 | 2,634,223 |
71,133,775 | ||
Consumer Services 5.3% | ||
Adtalem Global Education, Inc. * | 74,811 | 1,753,570 |
American Public Education, Inc. * | 22,735 | 642,719 |
Arcos Dorados Holdings, Inc., Class A | 220,529 | 886,527 |
BJ's Restaurants, Inc. | 45,600 | 1,286,376 |
Bloomin' Brands, Inc. | 161,588 | 2,259,000 |
Boyd Gaming Corp. | 72,161 | 2,288,947 |
Bright Horizons Family Solutions, Inc. * | 17,087 | 2,700,600 |
Brinker International, Inc. | 90,248 | 3,929,398 |
Caesars Entertainment, Inc. * | 53,366 | 2,391,864 |
Choice Hotels International, Inc. | 9,884 | 863,367 |
Churchill Downs, Inc. | 14,262 | 2,127,177 |
Dave & Buster's Entertainment, Inc. | 69,240 | 1,188,158 |
Denny's Corp. * | 48,073 | 430,734 |
Dine Brands Global, Inc. | 15,426 | 793,668 |
Security | Number of Shares | Value ($) |
Dunkin' Brands Group, Inc. | 31,531 | 3,143,956 |
Fiesta Restaurant Group, Inc. * | 52,961 | 457,583 |
frontdoor, Inc. * | 21,431 | 849,096 |
Graham Holdings Co., Class B | 6,467 | 2,459,659 |
Grand Canyon Education, Inc. * | 20,463 | 1,603,685 |
Hilton Grand Vacations, Inc. * | 73,789 | 1,520,053 |
Houghton Mifflin Harcourt Co. * | 495,441 | 1,293,101 |
Hyatt Hotels Corp., Class A | 45,271 | 2,496,243 |
International Game Technology plc | 251,317 | 2,063,313 |
Jack in the Box, Inc. | 40,037 | 3,205,362 |
K12, Inc. * | 56,885 | 1,357,845 |
Laureate Education, Inc., Class A * | 122,184 | 1,588,392 |
Marriott Vacations Worldwide Corp. | 26,201 | 2,531,017 |
Papa John's International, Inc. | 12,908 | 988,753 |
Penn National Gaming, Inc. * | 73,512 | 3,968,178 |
Perdoceo Education Corp. * | 40,429 | 456,443 |
Planet Fitness, Inc., Class A * | 7,526 | 446,066 |
Red Robin Gourmet Burgers, Inc. * | 73,022 | 879,185 |
Red Rock Resorts, Inc., Class A | 64,917 | 1,241,213 |
Regis Corp. * | 91,859 | 508,899 |
Ruth's Hospitality Group, Inc. | 39,335 | 439,765 |
Scientific Games Corp., Class A * | 60,590 | 1,931,609 |
SeaWorld Entertainment, Inc. * | 40,067 | 882,275 |
Strategic Education, Inc. | 5,396 | 448,192 |
Terminix Global Holdings, Inc. * | 49,955 | 2,352,381 |
Texas Roadhouse, Inc. | 45,002 | 3,151,490 |
The Cheesecake Factory, Inc. | 93,951 | 2,792,224 |
Vail Resorts, Inc. | 13,633 | 3,163,401 |
WW International, Inc. * | 24,285 | 513,871 |
Wyndham Hotels & Resorts, Inc. | 40,643 | 1,890,306 |
74,165,661 | ||
Diversified Financials 4.5% | ||
AGNC Investment Corp. | 211,436 | 2,953,761 |
Apollo Commercial Real Estate Finance, Inc. | 82,431 | 717,150 |
Artisan Partners Asset Management, Inc., Class A | 36,158 | 1,448,489 |
BGC Partners, Inc., Class A | 285,663 | 842,706 |
Blackstone Mortgage Trust, Inc., Class A | 56,813 | 1,232,842 |
Brightsphere Investment Group, Inc. | 50,577 | 697,963 |
Cannae Holdings, Inc. * | 43,764 | 1,618,393 |
Capstead Mortgage Corp. | 128,505 | 656,661 |
Cboe Global Markets, Inc. | 29,287 | 2,380,740 |
Cohen & Steers, Inc. | 9,997 | 562,931 |
Compass Diversified Holdings | 56,558 | 977,888 |
Credit Acceptance Corp. * | 4,148 | 1,236,602 |
Donnelley Financial Solutions, Inc. * | 83,297 | 1,052,041 |
Eaton Vance Corp. | 72,388 | 4,328,079 |
Encore Capital Group, Inc. * | 20,321 | 648,850 |
Enova International, Inc. * | 48,566 | 745,488 |
FactSet Research Systems, Inc. | 9,053 | 2,774,744 |
Federated Hermes, Inc. | 90,822 | 2,170,646 |
FirstCash, Inc. | 25,476 | 1,325,771 |
Green Dot Corp., Class A * | 24,185 | 1,289,544 |
Greenhill & Co., Inc. | 60,760 | 785,627 |
Houlihan Lokey, Inc. | 15,952 | 1,000,190 |
Invesco Mortgage Capital, Inc. (a) | 249,498 | 673,645 |
Janus Henderson Group plc | 148,018 | 3,596,837 |
Ladder Capital Corp. REIT | 104,476 | 783,570 |
MarketAxess Holdings, Inc. | 3,232 | 1,741,563 |
MFA Financial, Inc. | 554,201 | 1,562,847 |
Moelis & Co., Class A | 31,641 | 1,177,045 |
Morningstar, Inc. | 6,196 | 1,179,594 |
Nelnet, Inc., Class A | 18,974 | 1,158,173 |
New York Mortgage Trust, Inc. | 254,056 | 645,302 |
OneMain Holdings, Inc. | 89,548 | 3,124,330 |
Security | Number of Shares | Value ($) |
PennyMac Mortgage Investment Trust | 76,462 | 1,144,636 |
Piper Sandler Cos. | 10,092 | 842,177 |
PRA Group, Inc. * | 37,769 | 1,289,056 |
Redwood Trust, Inc. | 119,001 | 1,011,509 |
SLM Corp. | 278,441 | 2,558,873 |
Stifel Financial Corp. | 30,429 | 1,778,879 |
Two Harbors Investment Corp. | 224,765 | 1,137,311 |
Virtus Investment Partners, Inc. | 6,264 | 999,421 |
Waddell & Reed Financial, Inc., Class A | 224,950 | 3,452,982 |
WisdomTree Investments, Inc. | 165,863 | 603,741 |
World Acceptance Corp. * | 13,305 | 1,117,487 |
63,026,084 | ||
Energy 3.8% | ||
Arch Resources, Inc. | 53,298 | 1,628,254 |
Archrock, Inc. | 165,093 | 979,002 |
Callon Petroleum Co. *(a) | 55,532 | 290,432 |
Centennial Resource Development, Inc., Class A * | 606,163 | 375,639 |
ChampionX Corp. * | 114,664 | 1,001,017 |
Cheniere Energy, Inc. * | 37,758 | 1,807,475 |
Cimarex Energy Co. | 72,691 | 1,844,171 |
CNX Resources Corp. * | 326,240 | 3,164,528 |
CONSOL Energy, Inc. * | 233,287 | 884,158 |
Continental Resources, Inc. | 87,913 | 1,057,593 |
Core Laboratories N.V. | 56,430 | 815,414 |
Cosan Ltd., Class A | 145,093 | 1,992,127 |
CVR Energy, Inc. | 62,047 | 683,138 |
Diamondback Energy, Inc. | 44,183 | 1,146,991 |
Dril-Quip, Inc. * | 48,359 | 1,252,498 |
EQT Corp. | 265,767 | 4,023,712 |
Equitrans Midstream Corp. | 185,023 | 1,343,267 |
Exterran Corp. * | 182,511 | 772,022 |
Forum Energy Technologies, Inc. * | 978,759 | 465,302 |
Frank's International N.V. * | 252,535 | 441,936 |
GasLog Ltd. (a) | 119,183 | 283,656 |
Green Plains, Inc. * | 182,982 | 2,763,028 |
Gulfport Energy Corp. *(a) | 782,919 | 200,427 |
Helix Energy Solutions Group, Inc. * | 208,516 | 517,120 |
International Seaways, Inc. | 34,229 | 463,461 |
Kosmos Energy Ltd. | 431,528 | 429,068 |
Liberty Oilfield Services, Inc., Class A | 71,224 | 475,776 |
Magnolia Oil & Gas Corp., Class A * | 70,618 | 306,482 |
Matador Resources Co. * | 49,371 | 349,053 |
Matrix Service Co. * | 85,308 | 648,341 |
Newpark Resources, Inc. * | 307,527 | 219,913 |
NexTier Oilfield Solutions, Inc. * | 164,766 | 311,408 |
Nordic American Tankers Ltd. (a) | 280,565 | 816,444 |
Oil States International, Inc. * | 340,864 | 848,751 |
Par Pacific Holdings, Inc. * | 74,418 | 479,252 |
Parsley Energy, Inc., Class A | 108,525 | 1,086,335 |
PDC Energy, Inc. * | 96,792 | 1,153,761 |
ProPetro Holding Corp. * | 98,963 | 390,904 |
QEP Resources, Inc. | 1,463,506 | 1,317,155 |
Range Resources Corp. | 596,907 | 3,927,648 |
Renewable Energy Group, Inc. * | 64,451 | 3,635,036 |
REX American Resources Corp. * | 10,364 | 753,359 |
RPC, Inc. * | 240,661 | 572,773 |
Scorpio Tankers, Inc. | 53,753 | 474,101 |
SEACOR Holdings, Inc. * | 23,100 | 707,553 |
SFL Corp., Ltd. | 105,354 | 685,855 |
Southwestern Energy Co. * | 335,538 | 895,886 |
Teekay Tankers Ltd., Class A * | 37,753 | 356,011 |
Tidewater, Inc. * | 118,576 | 694,855 |
Security | Number of Shares | Value ($) |
US Silica Holdings, Inc. | 284,952 | 775,069 |
Whiting Petroleum Corp. * | 18,360 | 268,056 |
52,775,213 | ||
Food & Staples Retailing 0.7% | ||
BJ's Wholesale Club Holdings, Inc. * | 39,588 | 1,515,825 |
Ingles Markets, Inc., Class A | 43,833 | 1,571,851 |
PriceSmart, Inc. | 35,284 | 2,434,596 |
The Andersons, Inc. | 124,711 | 2,704,982 |
The Chefs' Warehouse, Inc. * | 26,179 | 353,940 |
Weis Markets, Inc. | 28,295 | 1,284,876 |
9,866,070 | ||
Food, Beverage & Tobacco 2.5% | ||
B&G Foods, Inc. (a) | 102,566 | 2,724,153 |
Cal-Maine Foods, Inc. * | 40,708 | 1,561,152 |
Calavo Growers, Inc. | 14,248 | 956,468 |
Coca-Cola Consolidated, Inc. | 2,392 | 547,648 |
Fresh Del Monte Produce, Inc. | 110,741 | 2,384,254 |
Hostess Brands, Inc. * | 41,990 | 530,754 |
J&J Snack Foods Corp. | 9,405 | 1,275,036 |
John B. Sanfilippo & Son, Inc. | 9,429 | 686,054 |
Keurig Dr Pepper, Inc. | 83,811 | 2,254,516 |
Lamb Weston Holdings, Inc. | 34,185 | 2,169,038 |
Lancaster Colony Corp. | 10,625 | 1,765,238 |
Nomad Foods Ltd. * | 97,674 | 2,368,594 |
Pilgrim's Pride Corp. * | 90,420 | 1,513,631 |
Post Holdings, Inc. * | 30,766 | 2,642,799 |
The Boston Beer Co., Inc., Class A * | 2,711 | 2,817,217 |
The Hain Celestial Group, Inc. * | 70,276 | 2,160,987 |
TreeHouse Foods, Inc. * | 67,332 | 2,615,175 |
Universal Corp. | 64,624 | 2,575,266 |
Vector Group Ltd. | 128,006 | 1,176,375 |
34,724,355 | ||
Health Care Equipment & Services 4.6% | ||
ABIOMED, Inc. * | 4,163 | 1,048,576 |
Acadia Healthcare Co., Inc. * | 70,193 | 2,502,380 |
Align Technology, Inc. * | 10,055 | 4,284,234 |
Allscripts Healthcare Solutions, Inc. * | 147,836 | 1,490,187 |
Amedisys, Inc. * | 6,768 | 1,752,912 |
AMN Healthcare Services, Inc. * | 28,729 | 1,875,429 |
Avanos Medical, Inc. * | 27,087 | 957,525 |
Brookdale Senior Living, Inc. * | 519,148 | 1,526,295 |
Cantel Medical Corp. | 17,198 | 822,752 |
Chemed Corp. | 5,435 | 2,599,669 |
Community Health Systems, Inc. * | 570,463 | 3,559,689 |
CONMED Corp. | 10,209 | 795,996 |
Covetrus, Inc. * | 192,650 | 4,756,529 |
Globus Medical, Inc., Class A * | 18,096 | 943,164 |
Haemonetics Corp. * | 12,478 | 1,261,401 |
Hill-Rom Holdings, Inc. | 25,679 | 2,338,587 |
HMS Holdings Corp. * | 29,547 | 786,541 |
ICU Medical, Inc. * | 4,612 | 819,967 |
IDEXX Laboratories, Inc. * | 6,063 | 2,575,684 |
Integer Holdings Corp. * | 12,588 | 735,769 |
Integra LifeSciences Holdings Corp. * | 15,599 | 687,916 |
Invacare Corp. | 73,493 | 596,028 |
LENSAR, Inc. * | 31,371 | 306,181 |
LHC Group, Inc. * | 6,601 | 1,429,447 |
LivaNova plc * | 14,279 | 718,805 |
Masimo Corp. * | 8,212 | 1,838,010 |
Merit Medical Systems, Inc. * | 19,265 | 964,213 |
National HealthCare Corp. | 11,181 | 707,757 |
Neogen Corp. * | 9,307 | 649,070 |
Security | Number of Shares | Value ($) |
NextGen Healthcare, Inc. * | 49,796 | 677,226 |
NuVasive, Inc. * | 18,775 | 834,173 |
Omnicell, Inc. * | 7,367 | 637,614 |
Premier, Inc., Class A | 32,431 | 1,061,467 |
Select Medical Holdings Corp. * | 103,487 | 2,171,157 |
Teleflex, Inc. | 8,320 | 2,647,674 |
The Ensign Group, Inc. | 24,784 | 1,458,291 |
The Providence Service Corp. * | 14,315 | 1,682,728 |
Tivity Health, Inc. * | 64,711 | 889,776 |
Triple-S Management Corp., Class B * | 78,393 | 1,451,838 |
Varex Imaging Corp. * | 41,660 | 558,244 |
Veeva Systems, Inc., Class A * | 4,471 | 1,207,394 |
West Pharmaceutical Services, Inc. | 13,535 | 3,682,467 |
64,290,762 | ||
Household & Personal Products 1.0% | ||
Central Garden & Pet Co. * | 7,739 | 301,511 |
Central Garden & Pet Co., Class A * | 33,095 | 1,171,232 |
Coty, Inc., Class A | 537,463 | 1,558,643 |
Edgewell Personal Care Co. * | 92,256 | 2,418,952 |
Energizer Holdings, Inc. | 26,500 | 1,042,775 |
Herbalife Nutrition Ltd. * | 72,713 | 3,282,265 |
Medifast, Inc. | 3,916 | 550,159 |
Spectrum Brands Holdings, Inc. | 32,597 | 1,853,791 |
USANA Health Sciences, Inc. * | 14,047 | 1,062,656 |
WD-40 Co. | 4,254 | 1,035,339 |
14,277,323 | ||
Insurance 2.6% | ||
Ambac Financial Group, Inc. * | 60,509 | 743,051 |
American Equity Investment Life Holding Co. | 120,991 | 3,002,997 |
American National Group, Inc. | 7,512 | 516,826 |
AMERISAFE, Inc. | 12,931 | 762,670 |
Argo Group International Holdings Ltd. | 33,350 | 1,189,928 |
Brighthouse Financial, Inc. * | 65,831 | 2,179,006 |
Brown & Brown, Inc. | 77,374 | 3,366,543 |
CNA Financial Corp. | 33,545 | 999,306 |
Employers Holdings, Inc. | 22,705 | 726,787 |
Horace Mann Educators Corp. | 23,154 | 785,152 |
James River Group Holdings Ltd. | 28,428 | 1,328,441 |
Kemper Corp. | 29,982 | 1,848,690 |
MBIA, Inc. * | 200,978 | 1,147,584 |
Mercury General Corp. | 30,671 | 1,248,617 |
National General Holdings Corp. | 46,363 | 1,574,951 |
ProAssurance Corp. | 137,452 | 2,120,884 |
RLI Corp. | 15,589 | 1,351,566 |
Safety Insurance Group, Inc. | 10,996 | 769,720 |
Selective Insurance Group, Inc. | 31,502 | 1,639,994 |
Stewart Information Services Corp. | 42,498 | 1,801,490 |
The Hanover Insurance Group, Inc. | 29,893 | 2,859,564 |
United Fire Group, Inc. | 21,160 | 434,626 |
Universal Insurance Holdings, Inc. | 43,006 | 536,285 |
White Mountains Insurance Group Ltd. | 3,530 | 3,206,405 |
36,141,083 | ||
Materials 7.5% | ||
AdvanSix, Inc. * | 82,521 | 1,255,970 |
Allegheny Technologies, Inc. * | 179,872 | 1,656,621 |
Avient Corp. | 102,068 | 3,171,253 |
Axalta Coating Systems Ltd. * | 129,155 | 3,243,082 |
Balchem Corp. | 10,127 | 1,012,194 |
Boise Cascade Co. | 75,107 | 2,882,607 |
Cabot Corp. | 76,861 | 2,921,487 |
Carpenter Technology Corp. | 84,924 | 1,484,472 |
Security | Number of Shares | Value ($) |
Century Aluminum Co. * | 119,717 | 787,738 |
Clearwater Paper Corp. * | 57,590 | 2,139,468 |
Cleveland-Cliffs, Inc. | 555,013 | 4,595,508 |
Compass Minerals International, Inc. | 37,134 | 2,242,151 |
Constellium SE * | 95,843 | 844,377 |
Contura Energy, Inc. * | 180,137 | 1,161,884 |
Eagle Materials, Inc. | 31,363 | 2,673,696 |
Element Solutions, Inc. * | 131,391 | 1,539,903 |
Ferro Corp. * | 60,914 | 783,354 |
FMC Corp. | 28,595 | 2,937,850 |
GCP Applied Technologies, Inc. * | 48,929 | 1,067,141 |
Glatfelter Corp. | 86,761 | 1,238,079 |
Greif, Inc., Class A | 46,002 | 1,867,221 |
H.B. Fuller Co. | 41,835 | 1,893,034 |
Hecla Mining Co. | 283,695 | 1,299,323 |
Ingevity Corp. * | 18,968 | 1,040,964 |
Innospec, Inc. | 17,509 | 1,158,045 |
Kaiser Aluminum Corp. | 22,071 | 1,388,928 |
Kraton Corp. * | 76,685 | 2,170,185 |
Livent Corp. * | 60,530 | 650,698 |
Louisiana-Pacific Corp. | 109,432 | 3,127,567 |
Materion Corp. | 24,413 | 1,249,701 |
Mercer International, Inc. | 73,156 | 460,151 |
Minerals Technologies, Inc. | 38,812 | 2,122,628 |
Myers Industries, Inc. | 41,987 | 602,094 |
Neenah, Inc. | 20,317 | 764,529 |
NewMarket Corp. | 5,355 | 1,915,430 |
Orion Engineered Carbons S.A. | 77,092 | 1,130,940 |
Quaker Chemical Corp. | 4,841 | 923,614 |
Rayonier Advanced Materials, Inc. * | 330,866 | 1,134,870 |
Royal Gold, Inc. | 10,628 | 1,262,713 |
Schnitzer Steel Industries, Inc., Class A | 99,859 | 2,097,039 |
Schweitzer-Mauduit International, Inc. | 39,637 | 1,315,948 |
Sensient Technologies Corp. | 38,036 | 2,488,695 |
Silgan Holdings, Inc. | 76,646 | 2,640,455 |
Southern Copper Corp. | 49,724 | 2,602,554 |
Stepan Co. | 17,998 | 2,095,687 |
Summit Materials, Inc., Class A * | 94,579 | 1,673,103 |
SunCoke Energy, Inc. | 237,843 | 830,072 |
The Scotts Miracle-Gro Co. | 20,542 | 3,082,327 |
TimkenSteel Corp. * | 210,635 | 815,157 |
Trinseo S.A. | 111,826 | 3,558,303 |
Tronox Holdings plc, Class A * | 132,938 | 1,298,804 |
US Concrete, Inc. * | 27,149 | 921,980 |
Valvoline, Inc. | 70,081 | 1,378,493 |
Verso Corp., Class A | 112,782 | 877,444 |
W.R. Grace & Co. | 45,369 | 1,973,098 |
Warrior Met Coal, Inc. | 177,614 | 2,664,210 |
Westlake Chemical Corp. | 42,876 | 2,899,275 |
Worthington Industries, Inc. | 65,702 | 3,233,195 |
104,247,309 | ||
Media & Entertainment 3.2% | ||
AMC Entertainment Holdings, Inc., Class A (a) | 289,202 | 682,517 |
AMC Networks, Inc., Class A *(a) | 94,604 | 2,010,335 |
Cable One, Inc. | 909 | 1,574,261 |
Cars.com, Inc. * | 150,354 | 1,111,116 |
Gannett Co., Inc. * | 721,180 | 829,357 |
Gray Television, Inc. * | 66,549 | 843,841 |
iHeartMedia, Inc., Class A * | 124,419 | 1,022,724 |
John Wiley & Sons, Inc., Class A | 57,872 | 1,791,717 |
Liberty Media Corp. - Liberty Formula One, Class A * | 4,985 | 166,001 |
Liberty Media Corp. - Liberty Formula One, Class C * | 39,663 | 1,433,024 |
Security | Number of Shares | Value ($) |
Liberty TripAdvisor Holdings, Inc., Class A * | 180,316 | 320,962 |
Lions Gate Entertainment Corp., Class A * | 58,736 | 393,531 |
Lions Gate Entertainment Corp., Class B * | 129,897 | 814,454 |
Live Nation Entertainment, Inc. * | 36,460 | 1,779,248 |
Madison Square Garden Entertainment Corp. * | 5,604 | 364,260 |
Madison Square Garden Sports Corp. * | 5,544 | 785,252 |
Meredith Corp. | 85,700 | 942,700 |
MSG Networks, Inc., Class A * | 50,368 | 450,290 |
National CineMedia, Inc. | 205,184 | 407,290 |
Nexstar Media Group, Inc., Class A | 24,644 | 2,030,666 |
Scholastic Corp. | 58,228 | 1,150,585 |
Sinclair Broadcast Group, Inc., Class A | 113,604 | 2,110,762 |
Sirius XM Holdings, Inc. | 393,840 | 2,256,703 |
Spotify Technology S.A. * | 4,207 | 1,009,217 |
Take-Two Interactive Software, Inc. * | 18,293 | 2,833,952 |
TEGNA, Inc. | 241,985 | 2,911,080 |
The E.W. Scripps Co., Class A | 43,681 | 396,624 |
The Marcus Corp. | 28,575 | 209,455 |
The New York Times Co., Class A | 40,606 | 1,610,434 |
TripAdvisor, Inc. | 86,440 | 1,651,868 |
Twitter, Inc. * | 66,369 | 2,745,022 |
Yandex N.V., Class A * | 51,422 | 2,960,365 |
Yelp, Inc. * | 38,979 | 766,717 |
Zynga, Inc., Class A * | 177,806 | 1,598,476 |
43,964,806 | ||
Pharmaceuticals, Biotechnology & Life Sciences 2.2% | ||
Alkermes plc * | 35,742 | 580,808 |
Bio-Rad Laboratories, Inc., Class A * | 4,573 | 2,681,699 |
Bio-Techne Corp. | 5,801 | 1,464,231 |
BioMarin Pharmaceutical, Inc. * | 10,395 | 773,700 |
Bruker Corp. | 32,452 | 1,380,508 |
Catalent, Inc. * | 28,978 | 2,543,399 |
Charles River Laboratories International, Inc. * | 11,816 | 2,690,503 |
Elanco Animal Health, Inc. * | 101,581 | 3,150,027 |
Emergent BioSolutions, Inc. * | 10,697 | 962,409 |
Horizon Therapeutics plc * | 9,271 | 694,676 |
Incyte Corp. * | 10,536 | 912,839 |
Lannett Co., Inc. * | 65,031 | 418,149 |
Myriad Genetics, Inc. * | 104,770 | 1,302,291 |
Nektar Therapeutics * | 24,540 | 388,714 |
PDL BioPharma, Inc. * | 414,009 | 890,119 |
PerkinElmer, Inc. | 32,247 | 4,177,599 |
PRA Health Sciences, Inc. * | 15,060 | 1,467,446 |
Prestige Consumer Healthcare, Inc. * | 28,712 | 948,357 |
Syneos Health, Inc. * | 19,591 | 1,039,890 |
Taro Pharmaceutical Industries Ltd. * | 11,710 | 686,557 |
Vertex Pharmaceuticals, Inc. * | 5,377 | 1,120,352 |
30,274,273 | ||
Real Estate 9.1% | ||
Acadia Realty Trust | 54,452 | 508,037 |
Alexander & Baldwin, Inc. | 105,802 | 1,359,556 |
American Assets Trust, Inc. | 22,853 | 478,313 |
American Campus Communities, Inc. | 81,475 | 3,052,053 |
American Finance Trust, Inc. | 70,229 | 404,870 |
American Homes 4 Rent, Class A | 63,452 | 1,793,788 |
Americold Realty Trust | 23,997 | 869,411 |
Apartment Investment & Management Co., Class A | 75,905 | 2,421,369 |
Ashford Hospitality Trust, Inc. (a) | 218,150 | 281,414 |
Brandywine Realty Trust | 158,042 | 1,384,448 |
Brookfield Property REIT, Inc., Class A (a) | 92,432 | 1,363,372 |
Security | Number of Shares | Value ($) |
CBL & Associates Properties, Inc. * | 6,210,226 | 937,744 |
Chatham Lodging Trust | 83,584 | 614,342 |
Columbia Property Trust, Inc. | 126,700 | 1,340,486 |
CorePoint Lodging, Inc. | 182,239 | 871,102 |
CoreSite Realty Corp. | 8,039 | 959,535 |
Corporate Office Properties Trust | 69,595 | 1,561,016 |
Cousins Properties, Inc. | 41,823 | 1,065,650 |
CubeSmart | 68,679 | 2,330,278 |
Cushman & Wakefield plc * | 41,334 | 484,434 |
CyrusOne, Inc. | 24,522 | 1,742,288 |
DiamondRock Hospitality Co. | 296,316 | 1,463,801 |
Douglas Emmett, Inc. | 66,215 | 1,562,674 |
EastGroup Properties, Inc. | 8,073 | 1,074,355 |
Empire State Realty Trust, Inc., Class A | 157,030 | 844,821 |
EPR Properties | 48,680 | 1,160,531 |
Equity Commonwealth | 51,386 | 1,357,618 |
Equity LifeStyle Properties, Inc. | 36,425 | 2,155,996 |
Federal Realty Investment Trust | 32,625 | 2,243,947 |
First Industrial Realty Trust, Inc. | 33,086 | 1,317,154 |
Franklin Street Properties Corp. | 166,008 | 697,234 |
Front Yard Residential Corp. | 61,471 | 823,097 |
Gaming & Leisure Properties, Inc. | 73,440 | 2,669,544 |
Global Net Lease, Inc. | 45,905 | 653,228 |
Healthcare Realty Trust, Inc. | 54,675 | 1,519,965 |
Healthcare Trust of America, Inc., Class A | 73,410 | 1,783,863 |
Hersha Hospitality Trust | 118,104 | 578,710 |
Highwoods Properties, Inc. | 63,647 | 1,894,771 |
HomeBanc Corp. *(b) | 6,875 | — |
Hudson Pacific Properties, Inc. | 67,826 | 1,306,329 |
Investors Real Estate Trust | 9,772 | 658,731 |
Invitation Homes, Inc. | 95,373 | 2,599,868 |
iStar, Inc. | 68,474 | 807,993 |
JBG SMITH Properties | 39,050 | 911,817 |
Kennedy-Wilson Holdings, Inc. | 73,855 | 973,409 |
Kilroy Realty Corp. | 37,882 | 1,783,485 |
Kite Realty Group Trust | 100,286 | 1,038,963 |
Lexington Realty Trust | 150,069 | 1,490,185 |
Life Storage, Inc. | 17,936 | 2,047,394 |
LTC Properties, Inc. | 15,226 | 502,610 |
Mack-Cali Realty Corp. | 84,211 | 925,479 |
Marcus & Millichap, Inc. * | 15,045 | 469,855 |
Medical Properties Trust, Inc. | 112,855 | 2,011,076 |
National Health Investors, Inc. | 14,477 | 811,436 |
National Retail Properties, Inc. | 53,049 | 1,698,098 |
New Senior Investment Group, Inc. | 216,669 | 847,176 |
Newmark Group, Inc., Class A | 100,881 | 477,672 |
Office Properties Income Trust | 42,026 | 773,699 |
Omega Healthcare Investors, Inc. | 89,774 | 2,586,389 |
Paramount Group, Inc. | 174,131 | 1,006,477 |
Pebblebrook Hotel Trust | 102,570 | 1,228,789 |
Pennsylvania Real Estate Investment Trust (a) | 394,404 | 196,808 |
Physicians Realty Trust | 52,235 | 880,682 |
Piedmont Office Realty Trust, Inc., Class A | 130,472 | 1,489,990 |
PotlatchDeltic Corp. | 29,002 | 1,205,033 |
Preferred Apartment Communities, Inc., Class A | 55,799 | 301,315 |
PS Business Parks, Inc. | 7,032 | 801,859 |
QTS Realty Trust, Inc., Class A | 15,752 | 968,906 |
Rayonier, Inc. | 91,341 | 2,318,235 |
Regency Centers Corp. | 63,810 | 2,270,998 |
Retail Opportunity Investments Corp. | 71,719 | 697,826 |
Retail Properties of America, Inc., Class A | 295,723 | 1,549,589 |
RLJ Lodging Trust | 268,009 | 2,192,314 |
RPT Realty | 111,299 | 544,252 |
Ryman Hospitality Properties, Inc. | 36,670 | 1,461,299 |
Sabra Health Care REIT, Inc. | 79,791 | 1,050,050 |
SBA Communications Corp. | 10,148 | 2,946,675 |
Security | Number of Shares | Value ($) |
Seritage Growth Properties, Class A *(a) | 41,246 | 525,062 |
SITE Centers Corp. | 260,081 | 1,771,152 |
Spirit Realty Capital, Inc. | 55,681 | 1,673,214 |
STAG Industrial, Inc. | 30,268 | 941,940 |
STORE Capital Corp. | 49,583 | 1,274,283 |
Summit Hotel Properties, Inc. | 142,067 | 750,114 |
Sun Communities, Inc. | 17,826 | 2,453,392 |
Sunstone Hotel Investors, Inc. | 304,943 | 2,262,677 |
Tanger Factory Outlet Centers, Inc. (a) | 202,288 | 1,252,163 |
Taubman Centers, Inc. | 57,014 | 1,905,408 |
The GEO Group, Inc. | 241,975 | 2,143,898 |
The Howard Hughes Corp. * | 16,974 | 1,055,613 |
Uniti Group, Inc. | 358,425 | 3,161,308 |
Urban Edge Properties | 85,494 | 803,644 |
VICI Properties, Inc. | 77,975 | 1,789,526 |
Washington Prime Group, Inc. | 2,420,620 | 1,417,273 |
Washington Real Estate Investment Trust | 50,144 | 876,517 |
Weingarten Realty Investors | 92,138 | 1,461,309 |
Xenia Hotels & Resorts, Inc. | 187,609 | 1,545,898 |
126,521,967 | ||
Retailing 4.0% | ||
At Home Group, Inc. * | 65,556 | 1,067,907 |
Caleres, Inc. | 218,262 | 1,676,252 |
Chico's FAS, Inc. | 1,718,882 | 1,839,204 |
Conn's, Inc. * | 77,174 | 723,120 |
Designer Brands, Inc., Class A | 375,173 | 1,624,499 |
Dillard’s, Inc., Class A (a) | 85,398 | 3,819,853 |
Express, Inc. * | 1,142,140 | 697,848 |
Five Below, Inc. * | 12,096 | 1,612,881 |
Floor & Decor Holdings, Inc., Class A * | 8,764 | 639,772 |
Genesco, Inc. * | 115,395 | 2,044,799 |
Groupon, Inc. * | 51,225 | 993,253 |
GrubHub, Inc. * | 15,386 | 1,137,949 |
Guess?, Inc. | 157,422 | 1,854,431 |
Haverty Furniture Cos., Inc. | 52,990 | 1,325,810 |
Hibbett Sports, Inc. * | 62,452 | 2,361,310 |
Lumber Liquidators Holdings, Inc. * | 63,370 | 1,401,744 |
MarineMax, Inc. * | 26,559 | 796,239 |
MercadoLibre, Inc. * | 1,225 | 1,487,211 |
Monro, Inc. | 23,200 | 975,792 |
National Vision Holdings, Inc. * | 32,523 | 1,311,653 |
Ollie's Bargain Outlet Holdings, Inc. * | 14,272 | 1,242,948 |
Party City Holdco, Inc. * | 840,051 | 1,671,702 |
Pool Corp. | 10,741 | 3,757,524 |
Rent-A-Center, Inc. | 36,542 | 1,129,148 |
RH * | 4,693 | 1,573,234 |
Sally Beauty Holdings, Inc. * | 267,324 | 2,237,502 |
Shoe Carnival, Inc. | 28,691 | 888,847 |
Sleep Number Corp. * | 30,761 | 1,949,017 |
Sonic Automotive, Inc., Class A | 93,899 | 3,385,998 |
Stamps.com, Inc. * | 5,338 | 1,191,655 |
The Buckle, Inc. | 71,815 | 1,720,687 |
The Cato Corp., Class A | 111,655 | 683,329 |
The Children's Place, Inc. | 44,568 | 1,126,233 |
The Michaels Cos., Inc. * | 356,099 | 2,887,963 |
Zumiez, Inc. * | 37,052 | 1,037,456 |
55,874,770 | ||
Semiconductors & Semiconductor Equipment 2.5% | ||
Advanced Energy Industries, Inc. * | 17,747 | 1,197,390 |
Advanced Micro Devices, Inc. * | 27,002 | 2,032,981 |
Ambarella, Inc. * | 7,979 | 436,212 |
Amkor Technology, Inc. * | 163,653 | 1,939,288 |
Brooks Automation, Inc. | 18,569 | 867,172 |
Cirrus Logic, Inc. * | 38,867 | 2,676,770 |
Security | Number of Shares | Value ($) |
CMC Materials, Inc. | 6,557 | 932,340 |
Cree, Inc. * | 58,252 | 3,704,827 |
Diodes, Inc. * | 21,857 | 1,263,990 |
Entegris, Inc. | 29,454 | 2,202,276 |
First Solar, Inc. * | 62,903 | 5,475,392 |
Kulicke & Soffa Industries, Inc. | 52,198 | 1,364,456 |
MKS Instruments, Inc. | 23,259 | 2,521,043 |
Monolithic Power Systems, Inc. | 4,505 | 1,439,798 |
Photronics, Inc. * | 72,128 | 703,248 |
Power Integrations, Inc. | 19,107 | 1,150,432 |
Semtech Corp. * | 19,422 | 1,066,074 |
Silicon Laboratories, Inc. * | 11,505 | 1,178,802 |
Synaptics, Inc. * | 29,312 | 2,247,351 |
Ultra Clean Holdings, Inc. * | 20,816 | 443,173 |
34,843,015 | ||
Software & Services 4.0% | ||
ACI Worldwide, Inc. * | 48,983 | 1,428,834 |
Aspen Technology, Inc. * | 13,886 | 1,524,822 |
Black Knight, Inc. * | 33,860 | 2,977,987 |
Blackbaud, Inc. | 10,604 | 523,201 |
Cardtronics plc, Class A * | 30,278 | 539,251 |
Cerence, Inc. * | 23,311 | 1,272,314 |
CommVault Systems, Inc. * | 23,628 | 935,433 |
CSG Systems International, Inc. | 23,482 | 889,498 |
Ebix, Inc. | 24,877 | 449,279 |
EPAM Systems, Inc. * | 6,909 | 2,134,536 |
Euronet Worldwide, Inc. * | 18,748 | 1,665,572 |
EVERTEC, Inc. | 26,834 | 893,036 |
ExlService Holdings, Inc. * | 14,606 | 1,106,258 |
Fair Isaac Corp. * | 5,075 | 1,986,609 |
Fortinet, Inc. * | 10,848 | 1,197,294 |
Gartner, Inc. * | 22,323 | 2,680,992 |
GoDaddy, Inc., Class A * | 12,413 | 878,096 |
j2 Global, Inc. * | 24,370 | 1,654,236 |
KBR, Inc. | 116,388 | 2,594,288 |
LiveRamp Holdings, Inc. * | 39,631 | 2,619,213 |
Manhattan Associates, Inc. * | 21,305 | 1,821,577 |
ManTech International Corp., Class A | 20,438 | 1,326,017 |
MicroStrategy, Inc., Class A * | 4,849 | 810,122 |
NIC, Inc. | 29,806 | 668,251 |
Nuance Communications, Inc. * | 65,242 | 2,081,872 |
Palo Alto Networks, Inc. * | 2,273 | 502,765 |
Paycom Software, Inc. * | 1,584 | 576,719 |
Pegasystems, Inc. | 4,359 | 505,121 |
Perficient, Inc. * | 17,088 | 669,166 |
Progress Software Corp. | 28,211 | 1,026,034 |
PTC, Inc. * | 19,184 | 1,609,154 |
Square, Inc., Class A * | 5,271 | 816,372 |
SS&C Technologies Holdings, Inc. | 39,313 | 2,328,116 |
Sykes Enterprises, Inc. * | 48,188 | 1,649,957 |
Tyler Technologies, Inc. * | 3,644 | 1,400,681 |
Unisys Corp. * | 61,574 | 809,082 |
Verint Systems, Inc. * | 24,431 | 1,185,392 |
Virtusa Corp. * | 15,548 | 782,064 |
VMware, Inc., Class A * | 19,912 | 2,563,272 |
WEX, Inc. * | 9,963 | 1,260,818 |
Xperi Holding Corp. | 135,313 | 1,677,881 |
56,021,182 | ||
Technology Hardware & Equipment 4.5% | ||
3D Systems Corp. * | 58,259 | 331,494 |
ADTRAN, Inc. | 113,784 | 1,216,351 |
Arista Networks, Inc. * | 7,016 | 1,465,642 |
Badger Meter, Inc. | 10,620 | 778,871 |
Belden, Inc. | 53,199 | 1,642,785 |
Security | Number of Shares | Value ($) |
Benchmark Electronics, Inc. | 118,893 | 2,476,541 |
Ciena Corp. * | 53,639 | 2,112,840 |
Cognex Corp. | 31,491 | 2,075,257 |
Coherent, Inc. * | 13,567 | 1,697,774 |
Comtech Telecommunications Corp. | 29,803 | 429,163 |
CTS Corp. | 25,910 | 716,152 |
Diebold Nixdorf, Inc. * | 190,121 | 1,184,454 |
Dolby Laboratories, Inc., Class A | 24,731 | 1,856,803 |
EchoStar Corp., Class A * | 49,879 | 1,155,198 |
ePlus, Inc. * | 16,093 | 1,086,438 |
Fabrinet * | 19,404 | 1,164,628 |
Fitbit, Inc., Class A * | 149,981 | 1,055,866 |
II-VI, Inc. * | 48,021 | 2,183,515 |
InterDigital, Inc. | 30,496 | 1,707,166 |
IPG Photonics Corp. * | 13,203 | 2,455,230 |
Itron, Inc. * | 17,386 | 1,181,379 |
Keysight Technologies, Inc. * | 31,449 | 3,298,057 |
Knowles Corp. * | 71,236 | 1,015,113 |
Littelfuse, Inc. | 9,710 | 1,921,997 |
Lumentum Holdings, Inc. * | 12,598 | 1,041,729 |
Methode Electronics, Inc. | 39,599 | 1,218,461 |
MTS Systems Corp. | 24,171 | 586,872 |
National Instruments Corp. | 62,938 | 1,968,701 |
NETGEAR, Inc. * | 36,903 | 1,137,350 |
NetScout Systems, Inc. * | 90,344 | 1,853,859 |
OSI Systems, Inc. * | 13,316 | 1,027,463 |
PC Connection, Inc. | 24,938 | 1,135,926 |
Plantronics, Inc. | 90,917 | 1,774,700 |
Plexus Corp. * | 33,741 | 2,346,349 |
Rogers Corp. * | 9,258 | 1,122,255 |
ScanSource, Inc. * | 91,762 | 1,844,416 |
Stratasys Ltd. *(a) | 40,037 | 511,673 |
TTM Technologies, Inc. * | 151,085 | 1,793,379 |
ViaSat, Inc. * | 35,892 | 1,216,739 |
Viavi Solutions, Inc. * | 58,155 | 718,214 |
Vishay Intertechnology, Inc. | 162,992 | 2,643,730 |
Zebra Technologies Corp., Class A * | 9,818 | 2,784,778 |
62,935,308 | ||
Telecommunication Services 0.8% | ||
ATN International, Inc. | 10,722 | 479,273 |
Cincinnati Bell, Inc. * | 85,460 | 1,286,173 |
Cogent Communications Holdings, Inc. | 13,844 | 772,495 |
Consolidated Communications Holdings, Inc. * | 282,590 | 1,319,695 |
GCI Liberty, Inc., Class A * | 15,276 | 1,240,870 |
Iridium Communications, Inc. * | 27,884 | 736,417 |
Liberty Latin America Ltd., Class A * | 60,470 | 592,606 |
Liberty Latin America Ltd., Class C * | 162,804 | 1,582,455 |
Shenandoah Telecommunications Co. | 17,593 | 767,407 |
United States Cellular Corp. * | 26,220 | 763,526 |
Vonage Holdings Corp. * | 108,372 | 1,146,576 |
10,687,493 | ||
Transportation 2.4% | ||
Air Transport Services Group, Inc. * | 45,060 | 1,263,482 |
Alaska Air Group, Inc. | 51,614 | 1,955,654 |
Allegiant Travel Co. | 5,212 | 702,369 |
AMERCO | 7,232 | 2,510,661 |
ArcBest Corp. | 89,493 | 2,731,326 |
Atlas Air Worldwide Holdings, Inc. * | 45,265 | 2,677,877 |
Atlas Corp. | 137,930 | 1,190,336 |
Copa Holdings S.A., Class A | 12,124 | 597,471 |
Costamare, Inc. | 108,208 | 615,704 |
Echo Global Logistics, Inc. * | 51,940 | 1,400,822 |
Forward Air Corp. | 29,015 | 1,827,075 |
Security | Number of Shares | Value ($) |
Hawaiian Holdings, Inc. | 41,509 | 574,900 |
Heartland Express, Inc. | 41,442 | 758,803 |
Hub Group, Inc., Class A * | 53,219 | 2,667,869 |
JetBlue Airways Corp. * | 177,820 | 2,128,505 |
Marten Transport Ltd. | 53,328 | 818,318 |
Saia, Inc. * | 15,314 | 2,261,265 |
Schneider National, Inc., Class B | 65,116 | 1,436,459 |
SkyWest, Inc. | 19,469 | 565,185 |
Spirit Airlines, Inc. * | 39,664 | 696,897 |
Uber Technologies, Inc. * | 21,152 | 706,688 |
Werner Enterprises, Inc. | 51,019 | 1,939,742 |
YRC Worldwide, Inc. * | 338,188 | 1,325,697 |
33,353,105 | ||
Utilities 2.9% | ||
ALLETE, Inc. | 41,426 | 2,136,753 |
American States Water Co. | 13,019 | 972,389 |
Atlantica Sustainable Infrastructure plc | 46,338 | 1,366,508 |
Avangrid, Inc. | 37,061 | 1,828,590 |
Avista Corp. | 61,632 | 2,047,415 |
Black Hills Corp. | 38,165 | 2,162,429 |
California Water Service Group | 21,573 | 961,508 |
Chesapeake Utilities Corp. | 8,180 | 795,178 |
Clearway Energy, Inc., Class A | 13,740 | 360,125 |
Clearway Energy, Inc., Class C | 28,574 | 804,644 |
Essential Utilities, Inc. | 57,277 | 2,359,812 |
Hawaiian Electric Industries, Inc. | 81,120 | 2,680,205 |
IDACORP, Inc. | 28,480 | 2,498,550 |
MGE Energy, Inc. | 16,385 | 1,065,353 |
National Fuel Gas Co. | 63,927 | 2,554,523 |
New Jersey Resources Corp. | 65,863 | 1,921,882 |
Northwest Natural Holding Co. | 18,461 | 820,407 |
NorthWestern Corp. | 38,460 | 2,004,920 |
ONE Gas, Inc. | 31,026 | 2,142,035 |
Ormat Technologies, Inc. | 15,948 | 1,130,235 |
Otter Tail Corp. | 28,245 | 1,083,196 |
PNM Resources, Inc. | 55,168 | 2,758,400 |
SJW Group. | 8,009 | 486,066 |
South Jersey Industries, Inc. | 58,115 | 1,119,876 |
Spire, Inc. | 34,907 | 1,956,188 |
Unitil Corp. | 12,598 | 435,261 |
40,452,448 | ||
Total Common Stock | ||
(Cost $1,138,844,757) | 1,383,414,526 | |
Other Investment Companies 1.5% of net assets | ||
Money Market Fund 0.4% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 6,437,103 | 6,437,103 |
Securities Lending Collateral 1.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 14,860,776 | 14,860,776 |
Total Other Investment Companies | ||
(Cost $21,297,879) | 21,297,879 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
Russell 2000 Index, e-mini, expires 12/18/20 | 113 | 8,682,920 | (329,056) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $13,731,147. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 98.1% of net assets | ||
Australia 5.5% | ||
AGL Energy Ltd. | 69,009 | 604,832 |
Amcor plc | 58,583 | 609,989 |
AMP Ltd. | 705,541 | 759,227 |
Ampol Ltd. | 48,709 | 888,165 |
APA Group | 47,972 | 353,666 |
Aristocrat Leisure Ltd. | 10,456 | 210,550 |
Aurizon Holdings Ltd. | 158,212 | 419,524 |
Australia & New Zealand Banking Group Ltd. | 289,719 | 3,844,754 |
Bendigo & Adelaide Bank Ltd. | 51,541 | 242,462 |
BGP Holdings plc *(a) | 453,854 | 638 |
BHP Group Ltd. | 219,490 | 5,261,532 |
BlueScope Steel Ltd. | 69,512 | 717,968 |
Boral Ltd. | 133,493 | 427,485 |
Brambles Ltd. | 82,162 | 554,127 |
Coca-Cola Amatil Ltd. | 35,365 | 309,155 |
Coles Group Ltd. | 69,488 | 868,063 |
Commonwealth Bank of Australia | 110,136 | 5,347,271 |
Computershare Ltd. | 22,407 | 191,488 |
Crown Resorts Ltd. | 40,616 | 236,462 |
CSL Ltd. | 5,828 | 1,179,921 |
Downer EDI Ltd. | 102,573 | 317,147 |
Fortescue Metals Group Ltd. | 92,111 | 1,126,839 |
Goodman Group | 26,965 | 349,012 |
Incitec Pivot Ltd. | 193,256 | 260,747 |
Insurance Australia Group Ltd. | 180,925 | 607,314 |
Lendlease Corp. Ltd. | 65,708 | 552,745 |
Macquarie Group Ltd. | 14,114 | 1,258,404 |
Medibank Pvt Ltd. | 215,132 | 403,840 |
Metcash Ltd. | 222,865 | 462,282 |
Mirvac Group | 203,210 | 301,355 |
National Australia Bank Ltd. | 272,171 | 3,560,807 |
Newcrest Mining Ltd. | 17,786 | 368,837 |
Oil Search Ltd. | 88,712 | 160,167 |
Orica Ltd. | 25,848 | 277,472 |
Origin Energy Ltd. | 159,449 | 448,532 |
QBE Insurance Group Ltd. | 102,675 | 593,737 |
Ramsay Health Care Ltd. | 6,083 | 266,522 |
Rio Tinto Ltd. | 31,140 | 2,025,777 |
Scentre Group | 311,287 | 459,372 |
Sims Ltd. | 49,036 | 329,763 |
Sonic Healthcare Ltd. | 20,518 | 502,548 |
South32 Ltd. | 376,113 | 536,706 |
Stockland | 153,085 | 413,954 |
Suncorp Group Ltd. | 157,091 | 907,246 |
Tabcorp Holdings Ltd. | 96,386 | 222,712 |
Telstra Corp. Ltd. | 623,522 | 1,174,208 |
Transurban Group | 45,452 | 430,416 |
Viva Energy Group Ltd. | 233,488 | 276,206 |
Wesfarmers Ltd. | 101,029 | 3,270,270 |
Westpac Banking Corp. | 359,588 | 4,551,255 |
Woodside Petroleum Ltd. | 79,445 | 979,894 |
Woolworths Group Ltd. | 113,236 | 3,046,082 |
53,469,447 | ||
Security | Number of Shares | Value ($) |
Austria 0.3% | ||
ANDRITZ AG | 6,129 | 206,710 |
Erste Group Bank AG * | 26,190 | 538,348 |
OMV AG | 20,997 | 485,374 |
Raiffeisen Bank International AG * | 16,336 | 235,865 |
voestalpine AG | 27,582 | 766,969 |
Wienerberger AG | 9,184 | 231,679 |
2,464,945 | ||
Belgium 0.8% | ||
Ageas S.A./N.V. | 17,016 | 685,218 |
Anheuser-Busch InBev S.A./N.V. | 52,703 | 2,726,124 |
Etablissements Franz Colruyt N.V. | 5,383 | 318,606 |
Groupe Bruxelles Lambert S.A. | 9,065 | 743,404 |
KBC Group N.V. | 19,802 | 978,354 |
Proximus | 17,721 | 344,500 |
Solvay S.A. | 8,018 | 651,465 |
UCB S.A. | 4,242 | 418,989 |
Umicore S.A. | 12,158 | 468,707 |
7,335,367 | ||
Canada 6.6% | ||
Agnico-Eagle Mines Ltd. | 4,992 | 395,186 |
Air Canada * | 16,300 | 180,214 |
Alimentation Couche-Tard, Inc., Class B | 46,580 | 1,434,495 |
ARC Resources Ltd. | 67,072 | 330,250 |
Atco Ltd., Class I | 8,989 | 250,245 |
Bank of Montreal | 40,945 | 2,438,015 |
Barrick Gold Corp. | 31,570 | 844,047 |
Bausch Health Cos., Inc. * | 34,409 | 566,897 |
BCE, Inc. | 21,222 | 852,830 |
Brookfield Asset Management, Inc., Class A | 50,798 | 1,509,489 |
Canadian Imperial Bank of Commerce | 26,238 | 1,957,166 |
Canadian National Railway Co. | 27,617 | 2,743,459 |
Canadian Natural Resources Ltd. | 97,645 | 1,553,760 |
Canadian Pacific Railway Ltd. | 5,150 | 1,539,008 |
Canadian Tire Corp., Ltd., Class A | 7,176 | 801,355 |
Cenovus Energy, Inc. | 157,295 | 514,754 |
CGI, Inc. * | 11,792 | 731,701 |
CI Financial Corp. | 27,515 | 320,729 |
Crescent Point Energy Corp. | 254,571 | 317,187 |
Dollarama, Inc. | 10,400 | 358,142 |
Emera, Inc. (b) | 9,100 | 363,030 |
Empire Co., Ltd., Class A | 21,500 | 586,598 |
Enbridge, Inc. | 73,386 | 2,022,067 |
Fairfax Financial Holdings Ltd. | 1,650 | 433,758 |
Finning International, Inc. | 20,517 | 311,998 |
First Quantum Minerals Ltd. | 49,370 | 567,331 |
Fortis, Inc. | 18,336 | 724,329 |
George Weston Ltd. | 9,294 | 651,759 |
Gibson Energy, Inc. | 13,453 | 198,114 |
Gildan Activewear, Inc. | 19,300 | 399,820 |
Great-West Lifeco, Inc. | 17,754 | 361,796 |
H&R Real Estate Investment Trust | 27,000 | 207,521 |
Husky Energy, Inc. | 110,021 | 283,249 |
Security | Number of Shares | Value ($) |
Hydro One Ltd. | 19,200 | 419,509 |
iA Financial Corp., Inc. | 6,600 | 229,957 |
Imperial Oil Ltd. | 34,741 | 462,066 |
Intact Financial Corp. | 4,306 | 444,788 |
Inter Pipeline Ltd. | 33,974 | 302,433 |
Keyera Corp. | 14,500 | 205,806 |
Kinross Gold Corp. | 42,100 | 334,955 |
Linamar Corp. | 8,900 | 290,922 |
Loblaw Cos., Ltd. | 15,943 | 793,620 |
Magna International, Inc. | 56,427 | 2,881,280 |
Manulife Financial Corp. | 106,300 | 1,440,950 |
Methanex Corp. | 14,700 | 435,825 |
Metro, Inc. | 14,594 | 680,790 |
National Bank of Canada | 15,933 | 764,660 |
Nutrien Ltd. | 41,200 | 1,674,842 |
Onex Corp. | 8,065 | 348,678 |
Open Text Corp. | 6,200 | 227,794 |
Parkland Corp. | 8,500 | 207,603 |
Pembina Pipeline Corp. | 22,078 | 462,175 |
Power Corp. of Canada | 69,103 | 1,315,877 |
Restaurant Brands International, Inc. | 4,400 | 228,636 |
RioCan Real Estate Investment Trust (b) | 17,700 | 191,043 |
Rogers Communications, Inc., Class B | 23,641 | 960,332 |
Royal Bank of Canada | 65,544 | 4,583,111 |
Saputo, Inc. | 15,675 | 381,551 |
Shaw Communications, Inc., Class B | 32,834 | 540,949 |
SNC-Lavalin Group, Inc. | 23,940 | 334,941 |
Sun Life Financial, Inc. | 27,175 | 1,081,248 |
Suncor Energy, Inc. | 174,937 | 1,973,507 |
TC Energy Corp. | 34,394 | 1,353,765 |
Teck Resources Ltd., Class B | 82,668 | 1,086,479 |
TELUS Corp. | 50,936 | 870,916 |
TFI International, Inc. | 7,000 | 311,672 |
The Bank of Nova Scotia | 79,515 | 3,303,427 |
The Toronto-Dominion Bank | 83,352 | 3,677,423 |
Thomson Reuters Corp. | 11,117 | 864,294 |
TransAlta Corp. | 39,421 | 233,751 |
Waste Connections, Inc. | 4,300 | 426,224 |
West Fraser Timber Co., Ltd. | 9,300 | 431,319 |
WSP Global, Inc. | 4,300 | 271,982 |
63,781,399 | ||
Denmark 1.1% | ||
AP Moller - Maersk A/S, Series A | 548 | 810,303 |
AP Moller - Maersk A/S, Series B | 800 | 1,282,108 |
Carlsberg A/S, Class B | 4,275 | 541,304 |
Coloplast A/S, Class B | 2,002 | 292,778 |
Danske Bank A/S * | 74,452 | 992,264 |
DSV PANALPINA A/S | 4,269 | 692,609 |
ISS A/S * | 28,867 | 374,797 |
Novo Nordisk A/S, Class B | 39,745 | 2,534,365 |
Novozymes A/S, Class B | 6,674 | 401,382 |
Orsted A/S | 4,294 | 681,518 |
Pandora A/S | 9,340 | 740,937 |
Vestas Wind Systems A/S | 7,641 | 1,310,920 |
10,655,285 | ||
Finland 1.2% | ||
Elisa Oyj | 5,367 | 263,888 |
Fortum Oyj | 26,712 | 502,096 |
Kesko Oyj, B Shares | 24,028 | 616,572 |
Kone Oyj, Class B | 11,767 | 936,808 |
Metso Outotec Oyj | 29,666 | 209,130 |
Neles Oyj | 6,038 | 80,857 |
Neste Oyj | 16,863 | 879,465 |
Security | Number of Shares | Value ($) |
Nokia Oyj * | 406,875 | 1,371,655 |
Nokian Renkaat Oyj (b) | 12,692 | 389,999 |
Nordea Bank Abp * | 297,199 | 2,238,567 |
Outokumpu Oyj *(b) | 105,633 | 263,597 |
Sampo Oyj, A Shares | 26,897 | 1,014,998 |
Stora Enso Oyj, R Shares | 56,445 | 823,699 |
UPM-Kymmene Oyj | 46,465 | 1,313,052 |
Wartsila Oyj Abp | 45,758 | 363,630 |
11,268,013 | ||
France 8.3% | ||
Accor S.A. * | 9,586 | 244,327 |
Air France-KLM *(b) | 74,980 | 245,779 |
Air Liquide S.A. | 16,959 | 2,480,055 |
Airbus SE * | 18,758 | 1,372,449 |
Alstom S.A. * | 11,394 | 509,077 |
Arkema S.A. | 7,028 | 688,321 |
Atos SE * | 5,621 | 384,003 |
AXA S.A. | 160,673 | 2,580,295 |
BNP Paribas S.A. * | 120,888 | 4,215,941 |
Bollore S.A. | 67,588 | 242,269 |
Bouygues S.A. | 28,615 | 938,384 |
Bureau Veritas S.A. * | 12,043 | 264,083 |
Capgemini SE | 8,199 | 946,720 |
Carrefour S.A. | 126,344 | 1,963,625 |
Casino Guichard Perrachon S.A. *(b) | 18,247 | 411,054 |
Cie de Saint-Gobain * | 75,106 | 2,925,642 |
CNP Assurances * | 19,040 | 214,745 |
Compagnie Generale des Etablissements Michelin S.C.A. | 20,230 | 2,184,860 |
Credit Agricole S.A. * | 98,113 | 776,126 |
Danone S.A. | 28,785 | 1,596,566 |
Dassault Systemes SE | 1,488 | 253,719 |
Eiffage S.A. * | 7,074 | 513,413 |
Electricite de France S.A. | 105,095 | 1,219,844 |
Elis S.A. * | 15,784 | 173,116 |
Engie S.A. * | 226,492 | 2,739,319 |
EssilorLuxottica S.A. * | 5,744 | 709,148 |
Eurazeo SE * | 4,675 | 212,608 |
Eutelsat Communications S.A. | 24,785 | 249,289 |
Faurecia SE * | 11,818 | 448,209 |
Hermes International | 469 | 436,686 |
Ingenico Group S.A. * | 159 | 22,860 |
Kering S.A. | 1,577 | 953,007 |
Klepierre S.A. (b) | 12,290 | 155,715 |
L'Oreal S.A. | 6,131 | 1,981,449 |
Lagardere S.C.A. * | 22,316 | 488,015 |
Legrand S.A. | 9,310 | 689,120 |
LVMH Moet Hennessy Louis Vuitton SE | 6,036 | 2,829,361 |
Natixis S.A. * | 127,170 | 296,204 |
Orange S.A. | 274,506 | 3,082,598 |
Pernod-Ricard S.A. | 6,182 | 995,935 |
Peugeot S.A. * | 103,409 | 1,857,661 |
Publicis Groupe S.A. | 21,741 | 755,332 |
Rallye S.A. * | 41,979 | 159,615 |
Renault S.A. * | 76,557 | 1,895,994 |
Rexel S.A. * | 66,268 | 697,714 |
Rubis S.C.A. | 5,456 | 179,392 |
Safran S.A. * | 10,653 | 1,123,677 |
Sanofi | 57,396 | 5,182,477 |
Schneider Electric SE | 26,662 | 3,239,604 |
SCOR SE * | 15,821 | 384,217 |
SES S.A. | 50,875 | 406,355 |
Societe Generale S.A. * | 199,156 | 2,706,114 |
Sodexo S.A. | 7,368 | 473,291 |
STMicroelectronics N.V. | 21,434 | 653,827 |
Security | Number of Shares | Value ($) |
Suez S.A. | 43,502 | 796,407 |
TechnipFMC plc | 62,847 | 346,543 |
Teleperformance | 1,262 | 378,831 |
Thales S.A. | 5,132 | 334,403 |
TOTAL SE | 305,721 | 9,262,340 |
Valeo S.A. | 39,136 | 1,183,919 |
Veolia Environnement S.A. | 51,254 | 953,972 |
Vinci S.A. | 26,246 | 2,073,042 |
Vivendi S.A. | 46,270 | 1,335,514 |
Wendel SE | 2,698 | 233,488 |
Worldline S.A. * | 1,826 | 135,269 |
80,382,934 | ||
Germany 8.0% | ||
adidas AG * | 5,936 | 1,763,614 |
Allianz SE | 27,365 | 4,820,470 |
Aurubis AG | 10,633 | 680,230 |
BASF SE | 115,294 | 6,313,290 |
Bayer AG | 70,117 | 3,294,834 |
Bayerische Motoren Werke AG | 62,942 | 4,301,376 |
Beiersdorf AG | 2,894 | 303,029 |
Brenntag AG | 14,108 | 901,732 |
Commerzbank AG * | 187,957 | 889,659 |
Continental AG | 18,824 | 2,000,067 |
Covestro AG | 28,850 | 1,376,894 |
Daimler AG | 169,758 | 8,774,534 |
Deutsche Bank AG * | 207,128 | 1,914,098 |
Deutsche Boerse AG | 3,305 | 487,003 |
Deutsche Lufthansa AG *(b) | 80,530 | 688,940 |
Deutsche Post AG | 84,611 | 3,751,481 |
Deutsche Telekom AG | 348,156 | 5,291,535 |
Deutsche Wohnen SE | 6,191 | 312,478 |
E.ON SE | 185,325 | 1,930,005 |
Evonik Industries AG | 19,381 | 466,634 |
Freenet AG | 15,079 | 267,140 |
Fresenius Medical Care AG & Co. KGaA | 13,478 | 1,029,209 |
Fresenius SE & Co. KGaA | 34,893 | 1,294,301 |
GEA Group AG | 13,908 | 463,188 |
Hannover Rueck SE | 2,734 | 397,310 |
HeidelbergCement AG | 18,612 | 1,064,484 |
Hella GmbH & Co. KGaA * | 5,273 | 230,172 |
Henkel AG & Co. KGaA | 5,644 | 510,239 |
Hugo Boss AG | 10,762 | 246,742 |
Infineon Technologies AG | 39,049 | 1,087,170 |
K&S AG | 53,869 | 360,917 |
KION Group AG | 4,669 | 363,813 |
LANXESS AG | 7,893 | 400,315 |
Leoni AG *(b) | 26,267 | 160,148 |
Merck KGaA | 4,475 | 662,887 |
METRO AG | 52,098 | 510,891 |
MTU Aero Engines AG | 1,678 | 286,806 |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 8,643 | 2,025,722 |
OSRAM Licht AG * | 5,080 | 298,131 |
ProSiebenSat.1 Media SE * | 34,059 | 380,115 |
Rheinmetall AG | 3,613 | 264,052 |
RWE AG | 50,015 | 1,850,943 |
Salzgitter AG * | 18,722 | 272,380 |
SAP SE | 21,777 | 2,323,270 |
Siemens AG | 50,791 | 5,958,599 |
Siemens Energy AG * | 25,669 | 562,034 |
Symrise AG | 2,685 | 331,088 |
Telefonica Deutschland Holding AG | 94,756 | 239,000 |
ThyssenKrupp AG * | 84,737 | 404,471 |
Uniper SE | 38,631 | 1,153,883 |
United Internet AG | 8,247 | 289,211 |
Security | Number of Shares | Value ($) |
Volkswagen AG | 5,041 | 784,190 |
Vonovia SE | 11,255 | 718,784 |
77,453,508 | ||
Hong Kong 1.8% | ||
AAC Technologies Holdings, Inc. | 33,500 | 176,089 |
AIA Group Ltd. | 242,000 | 2,303,156 |
BOC Hong Kong (Holdings) Ltd. | 210,000 | 583,272 |
CK Asset Holdings Ltd. | 158,000 | 733,671 |
CK Hutchison Holdings Ltd. | 251,500 | 1,519,054 |
CLP Holdings Ltd. | 103,500 | 953,705 |
Galaxy Entertainment Group Ltd. | 67,000 | 442,773 |
Hang Seng Bank Ltd. | 32,200 | 496,074 |
Henderson Land Development Co., Ltd. | 53,300 | 188,260 |
Hong Kong & China Gas Co., Ltd. | 249,168 | 359,500 |
Hong Kong Exchanges & Clearing Ltd. | 10,321 | 494,569 |
Hongkong Land Holdings Ltd. | 67,800 | 248,904 |
Jardine Matheson Holdings Ltd. | 15,900 | 704,778 |
Jardine Strategic Holdings Ltd. | 16,390 | 354,879 |
Lenovo Group Ltd. | 938,000 | 588,945 |
Link REIT | 42,500 | 324,354 |
MTR Corp., Ltd. | 70,364 | 348,672 |
New World Development Co., Ltd. | 134,422 | 641,783 |
Noble Group Ltd. *(a) | 18,617,693 | 204,448 |
PCCW Ltd. | 487,164 | 293,095 |
Sands China Ltd. | 119,200 | 418,344 |
Sino Land Co., Ltd. | 198,606 | 235,364 |
Sun Hung Kai Properties Ltd. | 90,000 | 1,158,463 |
Swire Pacific Ltd., Class A | 79,800 | 363,904 |
Swire Pacific Ltd., Class B | 161,251 | 131,312 |
Techtronic Industries Co., Ltd. | 33,000 | 444,488 |
The Wharf Holdings Ltd. | 261,000 | 540,294 |
Want Want China Holdings Ltd. | 318,000 | 210,591 |
WH Group Ltd. | 906,000 | 713,589 |
Wharf Real Estate Investment Co., Ltd. | 128,000 | 492,644 |
Yue Yuen Industrial Holdings Ltd. | 166,500 | 271,198 |
16,940,172 | ||
Ireland 0.1% | ||
Bank of Ireland Group plc * | 123,362 | 306,091 |
Kerry Group plc, Class A | 3,775 | 451,875 |
757,966 | ||
Israel 0.2% | ||
Bank Hapoalim B.M. * | 54,268 | 316,779 |
Bank Leumi Le-Israel B.M. | 70,164 | 330,685 |
Bezeq The Israeli Telecommunication Corp., Ltd. * | 399,521 | 450,484 |
ICL Group Ltd. | 81,513 | 295,717 |
Teva Pharmaceutical Industries Ltd. * | 78,546 | 679,874 |
2,073,539 | ||
Italy 2.8% | ||
A2A S.p.A. | 139,950 | 177,735 |
Assicurazioni Generali S.p.A. | 108,040 | 1,449,273 |
Atlantia S.p.A. * | 38,159 | 585,761 |
Banco BPM S.p.A. * | 207,650 | 376,157 |
CNH Industrial N.V. * | 113,316 | 878,615 |
Enel S.p.A. | 640,686 | 5,093,776 |
Eni S.p.A. | 525,711 | 3,682,629 |
EXOR N.V. | 31,894 | 1,659,343 |
Ferrari N.V. | 1,405 | 250,640 |
Fiat Chrysler Automobiles N.V. * | 279,895 | 3,433,643 |
Security | Number of Shares | Value ($) |
Hera S.p.A. | 61,094 | 191,904 |
Intesa Sanpaolo S.p.A. * | 1,737,988 | 2,885,241 |
Leonardo S.p.A. | 48,703 | 232,223 |
Mediobanca Banca di Credito Finanziario S.p.A. | 47,101 | 334,404 |
Pirelli & C S.p.A. * | 51,119 | 213,140 |
Poste Italiane S.p.A | 27,168 | 221,791 |
Prysmian S.p.A. | 15,252 | 415,043 |
Saipem S.p.A. (b) | 93,309 | 164,398 |
Saras S.p.A. * | 274,998 | 140,902 |
Snam S.p.A. | 115,666 | 563,997 |
Telecom Italia S.p.A. | 2,959,638 | 1,005,308 |
Tenaris S.A. | 53,462 | 255,122 |
Terna - Rete Elettrica Nationale S.p.A. | 57,359 | 387,276 |
UniCredit S.p.A. * | 268,322 | 2,009,568 |
Unipol Gruppo S.p.A. * | 60,824 | 221,859 |
26,829,748 | ||
Japan 25.4% | ||
Aeon Co., Ltd. | 62,200 | 1,589,097 |
AGC, Inc. | 30,100 | 939,901 |
Air Water, Inc. | 17,600 | 251,465 |
Aisin Seiki Co., Ltd. | 34,800 | 1,054,373 |
Ajinomoto Co., Inc. | 36,000 | 723,267 |
Alfresa Holdings Corp. | 28,300 | 518,171 |
Alps Alpine Co., Ltd. | 31,500 | 454,461 |
Amada Co., Ltd. | 32,400 | 281,998 |
ANA Holdings, Inc. * | 16,000 | 348,973 |
Asahi Group Holdings Ltd. | 22,500 | 696,310 |
Asahi Kasei Corp. | 159,400 | 1,381,292 |
Asics Corp. | 18,200 | 227,381 |
Astellas Pharma, Inc. | 98,800 | 1,354,838 |
Bandai Namco Holdings, Inc. | 9,300 | 695,034 |
Bic Camera, Inc. | 22,800 | 251,814 |
Bridgestone Corp. | 84,400 | 2,751,018 |
Brother Industries Ltd. | 27,200 | 420,299 |
Canon, Inc. | 126,800 | 2,207,106 |
Casio Computer Co., Ltd. | 13,800 | 209,652 |
Central Japan Railway Co. | 12,000 | 1,451,028 |
Chubu Electric Power Co., Inc. | 112,500 | 1,260,204 |
Chugai Pharmaceutical Co., Ltd. | 7,000 | 270,200 |
Coca-Cola Bottlers Japan Holdings, Inc. | 16,700 | 235,736 |
COMSYS Holdings Corp. | 8,400 | 213,449 |
Concordia Financial Group Ltd. | 87,500 | 288,842 |
Cosmo Energy Holdings Co., Ltd. | 23,100 | 338,140 |
Dai Nippon Printing Co., Ltd. | 35,900 | 668,796 |
Dai-ichi Life Holdings, Inc. | 97,100 | 1,450,229 |
Daicel Corp. | 43,300 | 309,017 |
Daido Steel Co., Ltd. | 6,300 | 206,327 |
Daiichi Sankyo Co., Ltd. | 36,700 | 968,646 |
Daikin Industries Ltd. | 10,000 | 1,871,332 |
Daito Trust Construction Co., Ltd. | 7,100 | 645,852 |
Daiwa House Industry Co., Ltd. | 68,500 | 1,799,821 |
Daiwa Securities Group, Inc. | 124,600 | 504,857 |
Denka Co., Ltd. | 11,100 | 341,966 |
Denso Corp. | 57,200 | 2,665,323 |
Dentsu Group, Inc. | 18,501 | 533,347 |
DIC Corp. | 15,300 | 372,491 |
East Japan Railway Co. | 33,918 | 1,773,689 |
Ebara Corp. | 11,400 | 316,880 |
EDION Corp. | 24,800 | 244,274 |
Eisai Co., Ltd. | 7,200 | 559,825 |
Electric Power Development Co., Ltd. | 27,700 | 374,356 |
ENEOS Holdings, Inc. | 718,750 | 2,425,268 |
FANUC Corp. | 7,200 | 1,520,818 |
Fast Retailing Co., Ltd. | 1,100 | 767,296 |
Security | Number of Shares | Value ($) |
Fuji Electric Co., Ltd. | 12,900 | 391,166 |
FUJIFILM Holdings Corp. | 31,600 | 1,611,365 |
Fujikura Ltd. | 93,400 | 247,552 |
Fujitsu Ltd. | 17,400 | 2,058,674 |
Furukawa Electric Co., Ltd. | 12,900 | 323,278 |
H2O Retailing Corp. | 33,500 | 220,115 |
Hakuhodo DY Holdings, Inc. | 25,100 | 319,804 |
Hankyu Hanshin Holdings, Inc. | 14,700 | 448,840 |
Hanwa Co., Ltd. | 16,200 | 314,080 |
Haseko Corp. | 35,000 | 419,620 |
Hino Motors Ltd. | 56,700 | 434,420 |
Hitachi Construction Machinery Co., Ltd. | 9,800 | 241,693 |
Hitachi Ltd. | 131,700 | 4,438,856 |
Hitachi Metals Ltd. | 24,300 | 322,249 |
Hokkaido Electric Power Co., Inc. | 57,100 | 221,317 |
Hokuriku Electric Power Co. | 34,000 | 242,490 |
Honda Motor Co., Ltd. | 311,800 | 7,374,985 |
Hoya Corp. | 7,950 | 897,212 |
Idemitsu Kosan Co., Ltd. | 89,369 | 1,807,395 |
IHI Corp. | 24,300 | 294,291 |
Iida Group Holdings Co., Ltd. | 24,300 | 439,639 |
Inpex Corp. | 132,400 | 627,893 |
Isetan Mitsukoshi Holdings Ltd. | 80,800 | 393,508 |
Isuzu Motors Ltd. | 82,200 | 666,929 |
ITOCHU Corp. | 99,100 | 2,380,234 |
J. Front Retailing Co., Ltd. | 41,000 | 312,429 |
Japan Airlines Co., Ltd. * | 19,700 | 344,077 |
Japan Post Bank Co., Ltd. | 28,700 | 228,903 |
Japan Post Holdings Co., Ltd. | 150,100 | 1,029,902 |
Japan Post Insurance Co., Ltd. | 15,900 | 252,033 |
Japan Tobacco, Inc. | 99,900 | 1,880,835 |
JFE Holdings, Inc. * | 193,900 | 1,362,374 |
JGC Holdings Corp. | 30,300 | 249,138 |
JSR Corp. | 15,100 | 341,291 |
JTEKT Corp. | 58,500 | 466,172 |
K's Holdings Corp. | 25,100 | 320,549 |
Kajima Corp. | 58,600 | 626,166 |
Kaneka Corp. | 11,900 | 333,012 |
Kao Corp. | 16,600 | 1,181,898 |
Kawasaki Heavy Industries Ltd. * | 31,900 | 381,114 |
KDDI Corp. | 142,700 | 3,860,747 |
Keio Corp. | 4,700 | 273,151 |
Kewpie Corp. | 13,800 | 282,430 |
Keyence Corp. | 1,592 | 722,485 |
Kikkoman Corp. | 6,400 | 318,721 |
Kintetsu Group Holdings Co., Ltd. | 8,800 | 351,608 |
Kirin Holdings Co., Ltd. | 61,800 | 1,114,153 |
Kobe Steel Ltd. * | 169,700 | 662,580 |
Koito Manufacturing Co., Ltd. | 10,500 | 506,350 |
Komatsu Ltd. | 85,900 | 1,936,655 |
Konica Minolta, Inc. | 138,300 | 352,357 |
Kubota Corp. | 76,500 | 1,329,422 |
Kuraray Co., Ltd. | 49,200 | 455,050 |
Kyocera Corp. | 20,100 | 1,106,956 |
Kyushu Electric Power Co., Inc. | 91,400 | 766,247 |
Kyushu Railway Co. | 11,700 | 248,869 |
LIXIL Group Corp. | 34,400 | 746,969 |
Makita Corp. | 12,800 | 565,806 |
Marubeni Corp. | 291,100 | 1,519,893 |
Matsumotokiyoshi Holdings Co., Ltd. | 7,100 | 262,106 |
Mazda Motor Corp. | 216,900 | 1,138,904 |
Medipal Holdings Corp. | 24,900 | 443,864 |
MEIJI Holdings Co., Ltd. | 10,400 | 753,475 |
Minebea Mitsumi, Inc. | 27,100 | 489,463 |
MISUMI Group, Inc. | 10,000 | 296,996 |
Mitsubishi Chemical Holdings Corp. | 234,800 | 1,321,492 |
Mitsubishi Corp. | 126,600 | 2,824,618 |
Security | Number of Shares | Value ($) |
Mitsubishi Electric Corp. | 206,900 | 2,664,641 |
Mitsubishi Estate Co., Ltd. | 45,800 | 683,147 |
Mitsubishi Gas Chemical Co., Inc. | 23,700 | 432,036 |
Mitsubishi Heavy Industries Ltd. | 53,300 | 1,145,162 |
Mitsubishi Materials Corp. | 27,600 | 506,439 |
Mitsubishi Motors Corp. * | 164,000 | 300,780 |
Mitsubishi UFJ Financial Group, Inc. | 1,098,934 | 4,331,893 |
Mitsui & Co., Ltd. | 158,000 | 2,474,832 |
Mitsui Chemicals, Inc. | 28,800 | 737,635 |
Mitsui Fudosan Co., Ltd. | 53,800 | 916,082 |
Mitsui Mining & Smelting Co., Ltd. | 10,300 | 259,997 |
Mitsui O.S.K. Lines Ltd. | 24,100 | 544,045 |
Mizuho Financial Group, Inc. | 207,321 | 2,552,540 |
MS&AD Insurance Group Holdings, Inc. | 41,590 | 1,138,120 |
Murata Manufacturing Co., Ltd. | 24,300 | 1,704,126 |
Nagase & Co., Ltd. | 26,200 | 341,652 |
Nagoya Railroad Co., Ltd. | 11,100 | 295,873 |
NEC Corp. | 23,200 | 1,168,588 |
NGK Insulators Ltd. | 23,400 | 334,284 |
NGK Spark Plug Co., Ltd. | 21,300 | 374,602 |
NH Foods Ltd. | 16,800 | 688,178 |
NHK Spring Co., Ltd. | 36,200 | 218,888 |
Nichirei Corp. | 8,900 | 224,269 |
Nidec Corp. | 11,400 | 1,151,423 |
Nikon Corp. | 48,200 | 293,748 |
Nintendo Co., Ltd. | 1,580 | 854,288 |
Nippon Electric Glass Co., Ltd. | 14,300 | 281,252 |
Nippon Express Co., Ltd. | 11,400 | 639,307 |
Nippon Light Metal Holdings Co., Ltd. | 12,320 | 194,587 |
Nippon Paper Industries Co., Ltd. | 23,400 | 264,249 |
Nippon Shokubai Co., Ltd. | 4,100 | 200,771 |
Nippon Steel Corp. * | 249,200 | 2,417,022 |
Nippon Steel Trading Corp. | 6,300 | 179,573 |
Nippon Telegraph & Telephone Corp. | 143,916 | 3,027,393 |
Nippon Yusen K.K. | 43,500 | 802,904 |
Nissan Motor Co., Ltd. * | 663,800 | 2,350,205 |
Nisshin Seifun Group, Inc. | 20,530 | 309,158 |
Nitori Holdings Co., Ltd. | 2,100 | 431,669 |
Nitto Denko Corp. | 15,400 | 1,081,938 |
NOK Corp. | 27,400 | 312,470 |
Nomura Holdings, Inc. | 198,000 | 886,731 |
Nomura Real Estate Holdings, Inc. | 10,900 | 190,384 |
NSK Ltd. | 73,200 | 586,045 |
NTN Corp. * | 122,800 | 227,755 |
NTT Data Corp. | 41,000 | 462,734 |
NTT DOCOMO, Inc. | 88,300 | 3,287,867 |
Obayashi Corp. | 75,400 | 630,973 |
Odakyu Electric Railway Co., Ltd. | 12,900 | 311,309 |
Oji Holdings Corp. | 130,600 | 550,403 |
Olympus Corp. | 26,300 | 503,489 |
Omron Corp. | 10,800 | 779,825 |
Ono Pharmaceutical Co., Ltd. | 10,900 | 310,925 |
Oriental Land Co., Ltd. | 2,600 | 363,943 |
ORIX Corp. | 90,200 | 1,054,910 |
Osaka Gas Co., Ltd. | 51,700 | 981,794 |
Otsuka Corp. | 5,200 | 238,949 |
Otsuka Holdings Co., Ltd. | 24,800 | 918,506 |
Pan Pacific International Holdings Corp. | 15,100 | 320,398 |
Panasonic Corp. | 306,950 | 2,835,460 |
Rakuten, Inc. | 27,300 | 265,607 |
Recruit Holdings Co., Ltd. | 28,600 | 1,088,248 |
Renesas Electronics Corp. * | 43,700 | 360,728 |
Resona Holdings, Inc. | 181,358 | 597,932 |
Ricoh Co., Ltd. | 107,500 | 705,976 |
Rohm Co., Ltd. | 5,300 | 407,500 |
Ryohin Keikaku Co., Ltd. | 15,500 | 325,334 |
Security | Number of Shares | Value ($) |
Santen Pharmaceutical Co., Ltd. | 13,100 | 233,389 |
SBI Holdings, Inc. | 11,000 | 253,564 |
Secom Co., Ltd. | 8,700 | 734,966 |
Seiko Epson Corp. | 42,600 | 494,743 |
Seino Holdings Co., Ltd. | 22,100 | 285,584 |
Sekisui Chemical Co., Ltd. | 40,200 | 626,650 |
Sekisui House Ltd. | 56,200 | 933,668 |
Seven & i Holdings Co., Ltd. | 80,900 | 2,458,928 |
SG Holdings Co., Ltd. | 25,800 | 622,307 |
Shikoku Electric Power Co., Inc. | 30,100 | 216,342 |
Shimadzu Corp. | 9,500 | 271,637 |
Shimamura Co., Ltd. | 4,100 | 437,104 |
Shimano, Inc. | 2,300 | 526,046 |
Shimizu Corp. | 64,400 | 447,152 |
Shin-Etsu Chemical Co., Ltd. | 15,400 | 2,056,928 |
Shionogi & Co., Ltd. | 8,500 | 400,944 |
Shiseido Co., Ltd. | 8,800 | 544,782 |
Showa Denko K.K. | 20,700 | 351,976 |
SMC Corp. | 1,400 | 744,667 |
Softbank Corp. | 95,700 | 1,113,705 |
SoftBank Group Corp. | 117,700 | 7,666,245 |
Sojitz Corp. | 218,400 | 480,573 |
Sompo Holdings, Inc. | 28,100 | 1,049,138 |
Sony Corp. | 40,700 | 3,393,013 |
Stanley Electric Co., Ltd. | 12,900 | 367,390 |
Subaru Corp. | 93,700 | 1,719,673 |
Sumitomo Chemical Co., Ltd. | 291,100 | 952,242 |
Sumitomo Corp. | 131,000 | 1,433,215 |
Sumitomo Electric Industries Ltd. | 149,400 | 1,649,387 |
Sumitomo Forestry Co., Ltd. | 23,200 | 365,460 |
Sumitomo Heavy Industries Ltd. | 18,300 | 392,229 |
Sumitomo Metal Mining Co., Ltd. | 21,500 | 668,300 |
Sumitomo Mitsui Financial Group, Inc. | 117,510 | 3,252,900 |
Sumitomo Mitsui Trust Holdings, Inc. | 26,000 | 699,073 |
Sumitomo Realty & Development Co., Ltd. | 18,600 | 497,723 |
Sumitomo Rubber Industries Ltd. | 40,500 | 356,247 |
Suntory Beverage & Food Ltd. | 9,000 | 310,389 |
Suzuken Co., Ltd. | 13,430 | 484,831 |
Suzuki Motor Corp. | 46,100 | 1,979,889 |
Sysmex Corp. | 4,100 | 385,108 |
T&D Holdings, Inc. | 49,250 | 492,208 |
Taiheiyo Cement Corp. | 19,800 | 464,747 |
Taisei Corp. | 20,600 | 641,029 |
Takashimaya Co., Ltd. | 37,100 | 277,323 |
Takeda Pharmaceutical Co., Ltd. | 49,121 | 1,517,966 |
TDK Corp. | 8,400 | 987,845 |
Teijin Ltd. | 28,600 | 438,094 |
Terumo Corp. | 14,600 | 537,338 |
The Chugoku Electric Power Co., Inc. | 33,000 | 414,607 |
The Kansai Electric Power Co., Inc. | 121,800 | 1,108,426 |
The Yokohama Rubber Co., Ltd. | 15,500 | 222,648 |
TIS, Inc. | 13,200 | 252,452 |
Tobu Railway Co., Ltd. | 11,700 | 332,003 |
Toho Gas Co., Ltd. | 7,800 | 402,650 |
Toho Holdings Co., Ltd. | 12,300 | 227,470 |
Tohoku Electric Power Co., Inc. | 106,100 | 936,130 |
Tokio Marine Holdings, Inc. | 40,100 | 1,792,258 |
Tokyo Electric Power Co. Holdings, Inc. * | 688,900 | 1,777,621 |
Tokyo Electron Ltd. | 4,600 | 1,234,690 |
Tokyo Gas Co., Ltd. | 60,000 | 1,359,571 |
Tokyu Corp. | 33,700 | 399,839 |
Tokyu Fudosan Holdings Corp. | 60,400 | 263,937 |
Toppan Printing Co., Ltd. | 41,600 | 529,002 |
Toray Industries, Inc. | 223,900 | 1,013,126 |
Toshiba Corp. | 35,200 | 890,414 |
Tosoh Corp. | 41,000 | 664,595 |
Security | Number of Shares | Value ($) |
TOTO Ltd. | 9,300 | 424,596 |
Toyo Seikan Group Holdings Ltd. | 31,700 | 296,155 |
Toyo Suisan Kaisha Ltd. | 5,800 | 288,642 |
Toyoda Gosei Co., Ltd. | 12,600 | 320,228 |
Toyota Industries Corp. | 13,600 | 878,878 |
Toyota Motor Corp. | 227,518 | 14,935,848 |
Toyota Tsusho Corp. | 45,000 | 1,255,739 |
TS Tech Co., Ltd. | 9,500 | 262,948 |
Tsuruha Holdings, Inc. | 2,200 | 308,055 |
Ube Industries Ltd. | 21,200 | 363,960 |
Unicharm Corp. | 9,900 | 458,082 |
West Japan Railway Co. | 16,363 | 701,927 |
Yakult Honsha Co., Ltd. | 4,300 | 208,090 |
Yamada Holdings Co., Ltd. | 127,600 | 622,152 |
Yamaha Corp. | 6,800 | 322,355 |
Yamaha Motor Co., Ltd. | 46,900 | 670,577 |
Yamato Holdings Co., Ltd. | 37,900 | 1,003,231 |
Yamazaki Baking Co., Ltd. | 16,100 | 264,456 |
Yaskawa Electric Corp. | 8,800 | 342,177 |
Yokogawa Electric Corp. | 18,700 | 274,915 |
Z Holdings Corp. | 109,500 | 763,550 |
245,859,472 | ||
Netherlands 2.8% | ||
Aalberts N.V. | 6,710 | 225,115 |
ABN AMRO Bank N.V. CVA * | 66,377 | 545,238 |
Aegon N.V. | 297,269 | 799,659 |
Akzo Nobel N.V. | 13,557 | 1,304,024 |
Altice Europe N.V. * | 41,375 | 203,427 |
APERAM S.A. | 8,470 | 227,306 |
ArcelorMittal S.A. * | 196,399 | 2,663,175 |
ASML Holding N.V. | 4,392 | 1,589,038 |
ASR Nederland N.V. | 13,195 | 400,409 |
Boskalis Westminster N.V. * | 12,536 | 252,082 |
Heineken Holding N.V. | 7,650 | 589,524 |
Heineken N.V. | 10,115 | 895,355 |
ING Groep N.V. * | 395,492 | 2,709,008 |
Koninklijke Ahold Delhaize N.V. | 132,062 | 3,620,581 |
Koninklijke DSM N.V. | 7,119 | 1,138,524 |
Koninklijke KPN N.V. | 308,908 | 834,292 |
Koninklijke Philips N.V. * | 40,570 | 1,879,071 |
NN Group N.V. | 26,094 | 908,095 |
Randstad N.V. * | 15,066 | 751,741 |
Signify N.V. * | 22,627 | 803,153 |
SNS Reaal N.V. *(a) | 124,822 | — |
Unibail-Rodamco-Westfield (b) | 12,614 | 510,626 |
Unilever N.V. | 62,589 | 3,528,376 |
Wolters Kluwer N.V. | 7,860 | 636,398 |
27,014,217 | ||
New Zealand 0.1% | ||
Contact Energy Ltd. | 61,045 | 297,612 |
Fletcher Building Ltd. * | 171,388 | 464,140 |
Spark New Zealand Ltd. | 135,766 | 402,908 |
1,164,660 | ||
Norway 0.7% | ||
DNB A.S.A. * | 64,990 | 877,676 |
Equinor A.S.A. | 150,676 | 1,922,582 |
Mowi A.S.A. | 24,519 | 387,350 |
Norsk Hydro A.S.A. * | 254,675 | 715,730 |
Orkla A.S.A. | 45,807 | 432,409 |
Seadrill Ltd. * | 606,073 | 137,439 |
Subsea 7 S.A. * | 49,856 | 331,116 |
Security | Number of Shares | Value ($) |
Telenor A.S.A. | 65,214 | 1,007,705 |
Yara International A.S.A. | 24,263 | 849,095 |
6,661,102 | ||
Poland 0.3% | ||
Bank Polska Kasa Opieki S.A. * | 17,550 | 187,813 |
Grupa Lotos S.A. | 15,642 | 110,318 |
KGHM Polska Miedz S.A. * | 15,681 | 469,208 |
PGE Polska Grupa Energetyczna S.A. * | 217,973 | 248,694 |
Polski Koncern Naftowy ORLEN S.A. | 74,026 | 713,474 |
Polskie Gornictwo Naftowe i Gazownictwo S.A. | 325,351 | 343,098 |
Powszechna Kasa Oszczednosci Bank Polski S.A. * | 50,053 | 240,114 |
Powszechny Zaklad Ubezpieczen S.A. * | 50,406 | 275,499 |
2,588,218 | ||
Portugal 0.2% | ||
EDP - Energias de Portugal S.A. | 249,827 | 1,232,314 |
Galp Energia, SGPS, S.A. | 56,949 | 462,493 |
Jeronimo Martins, SGPS, S.A. | 17,364 | 275,805 |
1,970,612 | ||
Republic of Korea 7.1% | ||
Amorepacific Corp. | 1,996 | 280,409 |
BNK Financial Group, Inc. | 52,818 | 258,018 |
CJ CheilJedang Corp. | 1,190 | 380,582 |
CJ Corp. | 4,391 | 295,228 |
Coway Co., Ltd. * | 3,712 | 227,295 |
Daelim Industrial Co., Ltd. | 4,662 | 322,214 |
DB Insurance Co., Ltd. | 9,039 | 353,390 |
Doosan Heavy Industries & Construction Co., Ltd. * | 58,364 | 710,214 |
E-MART, Inc. | 6,244 | 786,107 |
GS Holdings Corp. | 13,883 | 405,777 |
Hana Financial Group, Inc. | 34,449 | 930,552 |
Hankook Tire & Technology Co., Ltd. | 17,150 | 480,444 |
Hanwha Corp. | 19,428 | 414,325 |
Hanwha Solutions Corp. | 14,692 | 571,102 |
Hyundai Engineering & Construction Co., Ltd. | 16,853 | 459,431 |
Hyundai Glovis Co., Ltd. | 3,811 | 566,374 |
Hyundai Heavy Industries Holdings Co. Ltd | 3,157 | 600,783 |
Hyundai Marine & Fire Insurance Co., Ltd. | 13,835 | 284,955 |
Hyundai Mobis Co., Ltd. | 10,721 | 2,148,097 |
Hyundai Motor Co. | 28,325 | 4,146,100 |
Hyundai Steel Co. | 35,199 | 904,916 |
Industrial Bank of Korea | 53,933 | 391,587 |
KB Financial Group, Inc. | 37,206 | 1,330,851 |
Kia Motors Corp. | 60,677 | 2,721,311 |
Korea Electric Power Corp. * | 110,688 | 1,952,469 |
Korea Gas Corp. | 11,974 | 289,618 |
Korea Shipbuilding & Offshore Engineering Co., Ltd. * | 5,885 | 410,361 |
Korea Zinc Co., Ltd. | 992 | 335,502 |
Korean Air Lines Co., Ltd. * | 20,059 | 356,175 |
KT&G Corp. | 8,456 | 603,793 |
LG Chem Ltd. | 3,625 | 1,976,644 |
LG Corp. | 7,130 | 426,938 |
LG Display Co., Ltd. * | 116,499 | 1,454,666 |
LG Electronics, Inc. | 27,274 | 2,027,534 |
LG Household & Health Care Ltd. | 288 | 381,853 |
Security | Number of Shares | Value ($) |
LG Uplus Corp. | 37,859 | 370,623 |
Lotte Chemical Corp. | 3,323 | 687,243 |
Lotte Shopping Co., Ltd. | 5,507 | 407,799 |
NAVER Corp. | 1,887 | 482,828 |
POSCO | 20,387 | 3,763,525 |
Posco International Corp. | 18,648 | 220,247 |
S-Oil Corp. | 6,844 | 330,516 |
Samsung C&T Corp. | 4,621 | 452,654 |
Samsung Electro-Mechanics Co., Ltd. | 3,856 | 458,317 |
Samsung Electronics Co., Ltd. | 413,044 | 20,761,908 |
Samsung Fire & Marine Insurance Co., Ltd. | 4,022 | 635,942 |
Samsung Heavy Industries Co., Ltd. * | 54,995 | 247,201 |
Samsung Life Insurance Co., Ltd. | 8,504 | 475,987 |
Samsung SDI Co., Ltd. | 1,411 | 555,844 |
Samsung SDS Co., Ltd. | 2,024 | 302,028 |
Shinhan Financial Group Co., Ltd. | 49,486 | 1,342,667 |
SK Holdings Co., Ltd. | 5,080 | 827,269 |
SK Hynix, Inc. | 42,336 | 3,003,436 |
SK Innovation Co., Ltd. | 17,148 | 1,916,691 |
SK Networks Co., Ltd. | 70,331 | 282,109 |
SK Telecom Co., Ltd. | 2,968 | 562,818 |
Woori Financial Group, Inc. | 77,281 | 610,180 |
68,883,447 | ||
Singapore 0.6% | ||
CapitaLand Ltd. | 131,986 | 248,369 |
ComfortDelGro Corp., Ltd. | 260,700 | 257,848 |
DBS Group Holdings Ltd. | 84,156 | 1,253,575 |
Jardine Cycle & Carriage Ltd. | 15,300 | 199,025 |
Keppel Corp., Ltd. | 132,300 | 425,141 |
Oversea-Chinese Banking Corp., Ltd. | 169,438 | 1,045,051 |
Singapore Airlines Ltd. | 132,370 | 328,491 |
Singapore Telecommunications Ltd. | 573,186 | 852,054 |
United Overseas Bank Ltd. | 64,452 | 895,525 |
Wilmar International Ltd. | 221,866 | 656,845 |
6,161,924 | ||
Spain 2.7% | ||
Acciona S.A. | 2,072 | 209,348 |
Acerinox S.A. * | 25,409 | 201,704 |
ACS Actividades de Construccion y Servicios S.A. | 30,893 | 734,349 |
Aena SME S.A. * | 2,993 | 403,264 |
Amadeus IT Group S.A. | 12,317 | 586,858 |
Banco Bilbao Vizcaya Argentaria S.A. | 958,658 | 2,765,873 |
Banco De Sabadell S.A. | 1,808,732 | 553,487 |
Banco Santander S.A. * | 3,190,199 | 6,388,550 |
Bankia S.A. | 202,135 | 248,662 |
Bankinter S.A. | 47,920 | 180,090 |
CaixaBank S.A. | 155,628 | 283,957 |
Enagas S.A. | 14,267 | 307,935 |
Endesa S.A. | 33,965 | 911,255 |
Ferrovial S.A. | 17,483 | 378,639 |
Grifols S.A. | 9,213 | 248,974 |
Iberdrola S.A. | 347,588 | 4,104,172 |
Industria de Diseno Textil S.A. | 44,959 | 1,110,007 |
Mapfre S.A. | 149,256 | 225,201 |
Naturgy Energy Group S.A. | 35,795 | 665,004 |
Red Electrica Corp. S.A. | 22,616 | 398,369 |
Repsol S.A. | 326,841 | 2,051,929 |
Telefonica S.A. | 994,266 | 3,234,378 |
26,192,005 | ||
Security | Number of Shares | Value ($) |
Sweden 2.2% | ||
Alfa Laval AB * | 14,391 | 292,307 |
Assa Abloy AB, B Shares | 31,853 | 682,688 |
Atlas Copco AB, A Shares | 21,331 | 941,575 |
Atlas Copco AB, B Shares | 12,094 | 463,391 |
Boliden AB | 25,715 | 701,225 |
Electrolux AB, B Shares | 22,338 | 503,686 |
Electrolux Professional AB * | 24,545 | 92,529 |
Epiroc AB, A Shares | 19,716 | 294,391 |
Epiroc AB, B Shares | 5,636 | 80,683 |
Essity AB, B Shares | 25,415 | 735,594 |
Hennes & Mauritz AB, B Shares | 88,618 | 1,440,787 |
Hexagon AB, B Shares * | 6,251 | 458,181 |
Husqvarna AB, B Shares | 31,586 | 325,702 |
ICA Gruppen AB | 6,593 | 312,102 |
Investor AB, A Shares | 5,440 | 325,287 |
Investor AB, B Shares | 20,501 | 1,228,808 |
Sandvik AB * | 56,470 | 1,006,583 |
Securitas AB, B Shares * | 30,795 | 434,700 |
Skandinaviska Enskilda Banken AB, A Shares * | 99,307 | 852,177 |
Skanska AB, B Shares | 31,710 | 594,739 |
SKF AB, B Shares | 34,546 | 707,190 |
SSAB AB, A Shares * | 46,443 | 134,773 |
SSAB AB, B Shares * | 110,888 | 299,143 |
Svenska Handelsbanken AB, A Shares * | 97,865 | 792,969 |
Swedbank AB, A Shares * | 92,584 | 1,449,459 |
Swedish Match AB | 5,794 | 435,608 |
Tele2 AB, B Shares | 27,658 | 326,418 |
Telefonaktiebolaget LM Ericsson, B Shares | 163,999 | 1,830,969 |
Telia Co. AB (b) | 284,623 | 1,089,010 |
Trelleborg AB, B Shares * | 20,388 | 339,251 |
Volvo AB, B Shares * | 111,387 | 2,165,050 |
21,336,975 | ||
Switzerland 5.0% | ||
ABB Ltd. | 102,691 | 2,491,798 |
Adecco Group AG | 22,362 | 1,096,497 |
Alcon, Inc. * | 13,281 | 755,066 |
Baloise Holding AG | 2,327 | 318,230 |
Chocoladefabriken Lindt & Spruengli AG | 2 | 172,909 |
Chocoladefabriken Lindt & Spruengli AG - Participation Certificates | 25 | 198,212 |
Cie Financiere Richemont S.A. | 25,091 | 1,568,282 |
Clariant AG | 12,971 | 222,527 |
Credit Suisse Group AG | 98,920 | 932,951 |
DKSH Holding AG | 4,099 | 263,730 |
Geberit AG | 899 | 511,683 |
Georg Fischer AG | 309 | 312,105 |
Givaudan S.A. | 202 | 823,744 |
Julius Baer Group Ltd. | 7,241 | 322,262 |
Kuehne & Nagel International AG | 2,870 | 573,607 |
LafargeHolcim Ltd. * | 41,712 | 1,790,264 |
Lonza Group AG | 1,023 | 619,846 |
Nestle S.A. | 100,139 | 11,263,423 |
Novartis AG | 66,307 | 5,166,812 |
Roche Holding AG | 22,297 | 7,164,725 |
Roche Holding AG - Bearer Shares | 824 | 265,494 |
Schindler Holding AG | 1,916 | 491,302 |
SGS S.A. | 185 | 462,095 |
Sika AG | 2,962 | 728,666 |
Sonova Holding AG * | 1,170 | 277,720 |
Swiss Life Holding AG | 1,685 | 566,815 |
Security | Number of Shares | Value ($) |
Swiss Prime Site AG | 2,655 | 223,365 |
Swiss Re AG | 24,121 | 1,730,937 |
Swisscom AG | 1,720 | 874,793 |
The Swatch Group AG | 4,856 | 198,492 |
The Swatch Group AG - Bearer Shares | 2,916 | 617,524 |
UBS Group AG | 207,621 | 2,417,117 |
Zurich Insurance Group AG | 8,377 | 2,782,383 |
48,205,376 | ||
United Kingdom 14.3% | ||
3i Group plc | 41,167 | 514,163 |
Admiral Group plc | 7,958 | 283,495 |
Aggreko plc | 41,523 | 236,665 |
Anglo American plc | 79,887 | 1,874,402 |
Antofagasta plc | 23,030 | 307,086 |
Ashtead Group plc | 21,726 | 785,119 |
Associated British Foods plc | 31,090 | 683,723 |
AstraZeneca plc | 34,827 | 3,496,821 |
Aviva plc | 371,796 | 1,240,153 |
Babcock International Group plc | 45,152 | 127,197 |
BAE Systems plc | 210,194 | 1,080,479 |
Balfour Beatty plc * | 72,011 | 199,014 |
Barclays plc * | 1,704,599 | 2,362,699 |
Barratt Developments plc * | 91,503 | 571,947 |
Bellway plc | 11,143 | 337,133 |
BHP Group plc | 143,228 | 2,774,663 |
BP plc | 3,358,855 | 8,567,375 |
British American Tobacco plc | 134,661 | 4,268,130 |
BT Group plc | 1,807,117 | 2,373,375 |
Bunzl plc | 20,147 | 626,295 |
Burberry Group plc | 27,140 | 476,655 |
Carnival plc | 27,322 | 308,877 |
Centrica plc * | 2,346,864 | 1,130,242 |
Coca-Cola HBC AG * | 11,621 | 263,973 |
Compass Group plc | 88,322 | 1,208,928 |
CRH plc | 57,161 | 2,005,871 |
Croda International plc | 3,985 | 311,464 |
DCC plc | 7,477 | 485,870 |
Diageo plc | 69,765 | 2,254,654 |
Direct Line Insurance Group plc | 166,822 | 570,098 |
Dixons Carphone plc | 481,019 | 599,604 |
Drax Group plc | 84,963 | 325,586 |
DS Smith plc * | 100,963 | 370,352 |
easyJet plc | 34,166 | 224,042 |
Evraz plc | 62,338 | 290,288 |
Experian plc | 19,886 | 728,501 |
Ferguson plc | 15,570 | 1,546,426 |
FirstGroup plc * | 460,648 | 245,113 |
Flutter Entertainment plc * | 2,725 | 472,108 |
G4S plc * | 206,316 | 544,039 |
GlaxoSmithKline plc | 238,005 | 3,974,321 |
Glencore plc * | 3,115,697 | 6,285,094 |
Hays plc * | 195,953 | 270,584 |
HSBC Holdings plc * | 1,673,045 | 7,011,050 |
IMI plc | 18,709 | 250,861 |
Imperial Brands plc | 126,377 | 2,000,256 |
Inchcape plc * | 70,339 | 451,205 |
Informa plc * | 43,694 | 237,068 |
InterContinental Hotels Group plc * | 7,894 | 401,096 |
International Consolidated Airlines Group S.A. | 216,781 | 271,104 |
Intertek Group plc | 3,862 | 278,183 |
Investec plc | 66,698 | 124,117 |
ITV plc * | 492,206 | 459,998 |
J. Sainsbury plc | 436,798 | 1,140,141 |
John Wood Group plc * | 101,730 | 279,258 |
Johnson Matthey plc | 30,406 | 846,415 |
Security | Number of Shares | Value ($) |
Kingfisher plc * | 515,348 | 1,916,571 |
Land Securities Group plc | 38,107 | 251,431 |
Legal & General Group plc | 377,432 | 904,933 |
Lloyds Banking Group plc * | 7,160,885 | 2,607,326 |
London Stock Exchange Group plc | 2,809 | 302,804 |
M&G plc | 218,516 | 415,654 |
Marks & Spencer Group plc | 605,635 | 697,740 |
Meggitt plc * | 75,004 | 265,776 |
Micro Focus International plc * | 39,333 | 110,370 |
Mondi plc | 46,094 | 873,634 |
National Grid plc | 317,322 | 3,774,699 |
Natwest Group plc * | 123,763 | 199,550 |
Next plc | 8,043 | 607,460 |
Ninety One PLC * | 27,831 | 74,816 |
Pearson plc | 86,245 | 569,801 |
Pennon Group plc | 21,085 | 271,354 |
Persimmon plc | 22,423 | 678,890 |
Prudential plc | 104,309 | 1,275,751 |
Reckitt Benckiser Group plc | 23,288 | 2,051,405 |
RELX plc | 50,622 | 1,001,703 |
Rentokil Initial plc * | 39,661 | 270,020 |
Rio Tinto plc | 91,894 | 5,197,650 |
Rolls-Royce Holdings plc * | 145,536 | 134,703 |
Royal Dutch Shell plc, A Shares | 767,587 | 9,655,845 |
Royal Dutch Shell plc, B Shares | 702,953 | 8,477,144 |
Royal Mail plc | 418,636 | 1,232,220 |
RSA Insurance Group plc | 64,129 | 352,170 |
Severn Trent plc | 14,418 | 453,765 |
Smith & Nephew plc | 29,592 | 513,839 |
Smiths Group plc | 24,222 | 417,345 |
Smurfit Kappa Group plc | 18,684 | 704,972 |
SSE plc | 108,237 | 1,775,031 |
Standard Chartered plc * | 227,285 | 1,038,648 |
Standard Life Aberdeen plc | 163,391 | 476,084 |
Tate & Lyle plc | 40,448 | 311,805 |
Taylor Wimpey plc * | 342,444 | 469,180 |
Tesco plc | 782,682 | 2,083,144 |
The Berkeley Group Holdings plc | 9,057 | 476,202 |
The British Land Co., plc | 50,542 | 228,243 |
The Sage Group plc | 35,477 | 291,902 |
The Weir Group plc * | 16,259 | 302,056 |
Travis Perkins plc * | 35,200 | 483,446 |
TUI AG | 115,882 | 454,893 |
Unilever plc | 46,313 | 2,639,323 |
United Utilities Group plc | 44,176 | 493,836 |
Vodafone Group plc | 4,363,829 | 5,821,209 |
Whitbread plc * | 15,282 | 425,493 |
WM Morrison Supermarkets plc | 487,928 | 1,029,954 |
WPP plc | 173,959 | 1,389,460 |
137,804,626 | ||
Total Common Stock | ||
(Cost $986,196,686) | 947,254,957 | |
Preferred Stock 1.2% of net assets | ||
Germany 0.7% | ||
Bayerische Motoren Werke AG | 11,263 | 582,336 |
Fuchs Petrolub SE | 6,073 | 312,585 |
Henkel AG & Co. KGaA | 10,217 | 994,222 |
Volkswagen AG | 29,665 | 4,321,125 |
6,210,268 | ||
Italy 0.1% | ||
Telecom Italia S.p.A. - RSP | 1,580,460 | 575,298 |
Security | Number of Shares | Value ($) |
Republic of Korea 0.4% | ||
Hyundai Motor Co., Ltd. | 4,885 | 340,801 |
Hyundai Motor Co., Ltd. 2nd | 7,977 | 565,219 |
LG Chem Ltd. | 668 | 185,222 |
Samsung Electronics Co., Ltd. | 70,610 | 3,141,078 |
4,232,320 | ||
Total Preferred Stock | ||
(Cost $10,199,858) | 11,017,886 | |
Rights 0.0% of net assets | ||
Republic of Korea 0.0% | ||
Doosan Heavy Industries & Construction Co. Ltd expires 12/04/20 *(a) | 22,410 | 81,171 |
United Kingdom 0.0% | ||
Rolls-Royce Holdings PLC expires 11/11/20 * | 485,120 | 245,105 |
Total Rights | ||
(Cost $884,794) | 326,276 | |
Other Investment Company 0.5% of net assets | ||
United States 0.5% | ||
Securities Lending Collateral 0.5% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 5,038,856 | 5,038,856 |
Total Other Investment Company | ||
(Cost $5,038,856) | 5,038,856 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.0% of net assets | ||
Time Deposits 0.0% | ||
Brown Brothers Harriman | ||
Australian Dollar | ||
(0.02%), 11/02/20 (d)(e) | 1,533 | 1,078 |
Canadian Dollar | ||
0.01%, 11/02/20 (d) | 150,549 | 113,000 |
Danish Krone | ||
(0.65%), 11/02/20 (d)(e) | 60,867 | 9,522 |
Euro Currency | ||
(0.70%), 11/02/20 (d)(e) | 8,019 | 9,339 |
Hong Kong Dollar | ||
0.04%, 11/02/20 (d) | 34,363 | 4,432 |
Japanese Yen | ||
(0.27%), 11/02/20 (d)(e) | 1,834,875 | 17,526 |
New Zealand Dollar | ||
0.05%, 11/02/20 (d) | 15,754 | 10,417 |
Norwegian Krone | ||
(0.10%), 11/02/20 (d)(e) | 7,917 | 829 |
Pound Sterling | ||
0.01%, 11/02/20 (d) | 10,138 | 13,133 |
Singapore Dollar | ||
0.01%, 11/02/20 (d) | 698 | 511 |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Swedish Krona | ||
(0.26%), 11/02/20 (d)(e) | 381,964 | 42,925 |
Swiss Franc | ||
(1.42%), 11/02/20 (d)(e) | 1,173 | 1,279 |
Total Short-Term Investments | ||
(Cost $223,991) | 223,991 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI EAFE Index, expires 12/18/20 | 79 | 7,046,405 | (87,751) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $4,398,913. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
(e) | Rate is negative due to the current daily overnight rate at the central bank of the denominated currency and therefore is non-income producing. |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Security | Number of Shares | Value ($) |
Common Stock 99.1% of net assets | ||
Australia 5.7% | ||
Adbri Ltd. | 239,894 | 476,827 |
ALS Ltd. | 67,276 | 445,181 |
Ansell Ltd. | 24,032 | 679,555 |
ASX Ltd. | 10,605 | 593,823 |
AusNet Services | 460,085 | 646,779 |
Austal Ltd. | 148,429 | 283,031 |
Australian Pharmaceutical Industries Ltd. | 427,750 | 330,037 |
Bank of Queensland Ltd. | 164,560 | 742,406 |
Bapcor Ltd. | 40,131 | 216,297 |
Beach Energy Ltd. | 164,447 | 136,362 |
Bega Cheese Ltd. | 86,480 | 304,235 |
Blackmores Ltd. * | 2,097 | 103,572 |
Breville Group Ltd. | 14,312 | 265,163 |
carsales.com Ltd. | 18,757 | 274,036 |
Challenger Ltd. | 137,872 | 466,074 |
Charter Hall Group | 15,269 | 132,390 |
Charter Hall Retail REIT | 59,231 | 143,325 |
CIMIC Group Ltd. * | 43,236 | 653,460 |
Cleanaway Waste Management Ltd. | 193,570 | 279,055 |
Cochlear Ltd. | 3,499 | 522,244 |
Collins Foods Ltd. | 16,909 | 114,769 |
Costa Group Holdings Ltd. | 92,798 | 232,187 |
Cromwell Property Group | 342,879 | 211,013 |
CSR Ltd. | 252,973 | 783,138 |
Deterra Royalties Ltd. * | 52,621 | 145,360 |
Dexus | 108,929 | 659,025 |
Domino's Pizza Enterprises Ltd. | 4,139 | 246,526 |
Eagers Automotive Ltd | 56,583 | 432,765 |
Eclipx Group Ltd. * | 228,288 | 238,616 |
Elders Ltd. | 20,380 | 160,697 |
Evolution Mining Ltd. | 138,353 | 542,404 |
Flight Centre Travel Group Ltd. * | 34,090 | 269,828 |
G.U.D. Holdings Ltd. | 20,627 | 184,000 |
G8 Education Ltd. | 386,822 | 308,151 |
Genworth Mortgage Insurance Australia Ltd. | 122,479 | 146,952 |
GrainCorp Ltd., Class A * | 139,366 | 346,748 |
GWA Group Ltd. | 89,977 | 166,751 |
Harvey Norman Holdings Ltd. | 178,755 | 559,190 |
Healius Ltd. | 228,397 | 541,283 |
IGO Ltd. | 53,913 | 168,507 |
Iluka Resources Ltd. | 52,621 | 190,683 |
Inghams Group Ltd. | 74,186 | 149,276 |
InvoCare Ltd. | 19,724 | 140,118 |
IOOF Holdings Ltd. | 160,720 | 330,059 |
IRESS Ltd. | 25,724 | 166,452 |
James Hardie Industries plc | 36,789 | 893,232 |
JB Hi-Fi Ltd. | 27,980 | 934,965 |
Link Administration Holdings Ltd. | 81,194 | 273,014 |
Magellan Financial Group Ltd. | 5,243 | 203,211 |
McMillan Shakespeare Ltd. | 24,678 | 162,336 |
Mineral Resources Ltd. | 34,092 | 598,648 |
Monadelphous Group Ltd. | 50,038 | 321,775 |
nib Holdings Ltd. | 111,641 | 326,700 |
Nine Entertainment Co. Holdings Ltd. | 265,258 | 387,752 |
Security | Number of Shares | Value ($) |
Northern Star Resources Ltd. | 41,508 | 438,487 |
NRW Holdings Ltd. | 185,907 | 285,150 |
Nufarm Ltd. * | 120,244 | 290,747 |
Orora Ltd. | 346,190 | 627,407 |
OZ Minerals Ltd. | 78,452 | 819,540 |
Pact Group Holdings Ltd. | 113,955 | 188,245 |
Pendal Group Ltd. | 72,414 | 329,448 |
Perenti Global Ltd. | 200,077 | 147,135 |
Perpetual Ltd. | 13,285 | 254,260 |
Platinum Asset Management Ltd. | 47,058 | 100,935 |
Premier Investments Ltd. | 16,305 | 244,544 |
Qantas Airways Ltd. * | 250,160 | 735,955 |
Qube Holdings Ltd. | 192,945 | 359,138 |
REA Group Ltd. | 2,157 | 179,380 |
Regis Resources Ltd. | 74,498 | 218,661 |
Reliance Worldwide Corp. Ltd. | 71,252 | 205,686 |
Resolute Mining Ltd. * | 217,976 | 123,799 |
Sandfire Resources Ltd. | 80,205 | 249,588 |
Santos Ltd. | 170,082 | 565,418 |
SEEK Ltd. (a) | 39,405 | 596,417 |
Seven Group Holdings Ltd. | 19,408 | 265,014 |
Seven West Media Ltd. * | 1,825,300 | 211,480 |
Shopping Centres Australasia Property Group | 76,491 | 124,798 |
Sigma Healthcare Ltd. * | 1,109,139 | 413,920 |
Southern Cross Media Group Ltd. * | 996,045 | 122,352 |
St. Barbara Ltd. | 107,944 | 202,984 |
Steadfast Group Ltd. | 49,568 | 124,279 |
Super Retail Group Ltd. | 64,856 | 510,422 |
Sydney Airport | 103,737 | 397,736 |
Tassal Group Ltd. | 55,655 | 138,560 |
The GPT Group | 192,559 | 545,375 |
The Star Entertainment Grp Ltd. | 309,586 | 713,439 |
TPG Telecom Ltd. * | 42,709 | 215,568 |
Treasury Wine Estates Ltd. | 96,532 | 622,327 |
Tuas Ltd. * | 34,018 | 18,173 |
United Malt Grp Ltd. * | 142,671 | 404,433 |
Vicinity Centres | 635,241 | 539,832 |
Virgin Australia International Holdings *(a) | 176,214 | — |
Vocus Group Ltd. * | 77,053 | 186,605 |
Washington H Soul Pattinson & Co., Ltd. | 11,386 | 202,755 |
Whitehaven Coal Ltd. | 382,572 | 286,332 |
Worley Ltd. | 106,893 | 712,570 |
33,148,877 | ||
Austria 0.5% | ||
Austria Technologie & Systemtechnik AG | 10,771 | 195,778 |
BAWAG Group AG * | 14,886 | 546,691 |
CA Immobilien Anlagen AG | 5,917 | 162,531 |
DO & Co. AG * | 2,371 | 86,140 |
EVN AG | 9,317 | 148,807 |
IMMOFINANZ AG * | 10,704 | 143,543 |
Lenzing AG * | 7,939 | 555,729 |
Oesterreichische Post AG (b) | 12,769 | 405,517 |
UNIQA Insurance Group AG | 41,179 | 231,942 |
Security | Number of Shares | Value ($) |
Verbund AG | 6,731 | 388,204 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 12,148 | 246,461 |
3,111,343 | ||
Belgium 1.1% | ||
Ackermans & van Haaren N.V. * | 4,973 | 612,144 |
AGFA-Gevaert N.V. * | 69,151 | 262,922 |
Barco N.V. | 10,636 | 166,847 |
Befimmo S.A. | 3,368 | 131,109 |
Bekaert S.A. | 26,528 | 564,258 |
bpost S.A. | 75,669 | 670,532 |
Cie d'Entreprises CFE * | 3,327 | 206,025 |
Cofinimmo S.A. | 2,315 | 314,624 |
D'ieteren S.A./N.V. | 9,257 | 463,775 |
Elia Group S.A./N.V. | 3,448 | 333,494 |
Euronav N.V. | 36,141 | 264,078 |
Gimv N.V. | 3,275 | 171,021 |
KBC Ancora * | 3,099 | 87,835 |
Melexis N.V. | 2,535 | 192,961 |
Ontex Group N.V. * | 34,212 | 378,498 |
Orange Belgium S.A. | 12,629 | 210,462 |
Recticel S.A. | 12,922 | 126,942 |
Sofina S.A. | 930 | 241,706 |
Telenet Group Holding N.V. | 14,457 | 556,023 |
Tessenderlo Group S.A. * | 8,439 | 287,259 |
6,242,515 | ||
Canada 7.4% | ||
Aecon Group, Inc. | 31,072 | 331,640 |
Ag Growth International, Inc. (b) | 5,400 | 107,489 |
Aimia, Inc. * | 73,899 | 191,917 |
Alamos Gold, Inc., Class A | 24,911 | 227,551 |
Algonquin Power & Utilities Corp. | 45,085 | 683,568 |
Allied Properties Real Estate Investment Trust | 9,600 | 232,812 |
AltaGas Ltd. | 62,500 | 792,333 |
Altus Group Ltd. | 4,500 | 184,114 |
Artis Real Estate Investment Trust | 52,373 | 327,847 |
ATS Automation Tooling Systems, Inc. * | 11,500 | 142,423 |
AutoCanada, Inc. (b) | 26,600 | 401,905 |
B2Gold Corp. | 30,400 | 195,548 |
Badger Daylighting Ltd. (b) | 7,100 | 206,024 |
Baytex Energy Corp. *(b) | 709,500 | 210,352 |
Birchcliff Energy Ltd. (b) | 182,900 | 260,835 |
BlackBerry Ltd. * | 85,100 | 381,970 |
Boardwalk Real Estate Investment Trust | 9,777 | 196,523 |
Boyd Group Services, Inc. | 1,500 | 215,166 |
BRP, Inc. | 4,800 | 259,257 |
CAE, Inc. | 41,319 | 706,173 |
Cameco Corp. | 84,700 | 804,850 |
Canadian Apartment Properties REIT | 12,199 | 392,166 |
Canadian Utilities Ltd., Class A | 30,000 | 701,193 |
Canadian Western Bank | 18,239 | 335,402 |
Canfor Corp. * | 51,795 | 628,242 |
Capital Power Corp. | 25,999 | 572,942 |
Cascades, Inc. | 43,119 | 458,926 |
CCL Industries, Inc., Class B | 20,890 | 796,526 |
Celestica Inc. * | 114,700 | 674,098 |
Centerra Gold, Inc. | 41,477 | 362,375 |
CES Energy Solutions Corp. | 225,042 | 108,104 |
Chartwell Retirement Residences | 39,500 | 283,435 |
Chemtrade Logistics Income Fund (b) | 67,181 | 209,263 |
Security | Number of Shares | Value ($) |
Choice Properties Real Estate Investment Trust | 21,000 | 189,619 |
Chorus Aviation, Inc. | 99,100 | 217,941 |
Cineplex, Inc. (b) | 37,760 | 144,261 |
Cogeco Communications, Inc. | 2,431 | 169,329 |
Cogeco, Inc. | 5,400 | 322,954 |
Colliers International Group, Inc. | 3,934 | 278,625 |
Cominar Real Estate Investment Trust | 88,513 | 471,697 |
Constellation Software, Inc. | 677 | 710,685 |
Corus Entertainment, Inc., B Shares | 181,143 | 478,588 |
Crombie Real Estate Investment Trust (b) | 16,200 | 158,073 |
Dream Office Real Estate Investment Trust | 22,317 | 293,305 |
Eldorado Gold Corp. * | 18,061 | 226,389 |
Element Fleet Management Corp. | 31,900 | 300,492 |
Enerflex Ltd. | 73,449 | 264,070 |
Enerplus Corp. | 170,000 | 308,789 |
Ensign Energy Services, Inc. | 474,189 | 177,959 |
Exchange Income Corp. (b) | 9,630 | 228,769 |
Extendicare, Inc. (b) | 30,900 | 118,284 |
First Capital Real Estate Investment Trust (b) | 27,978 | 248,217 |
FirstService Corp. | 2,000 | 268,183 |
Franco-Nevada Corp. | 5,073 | 691,440 |
Frontera Energy Corp. | 109,400 | 176,544 |
Genworth MI Canada, Inc. | 9,805 | 325,288 |
Granite Real Estate Investment Trust | 3,704 | 207,678 |
Great Canadian Gaming Corp. * | 11,827 | 201,955 |
Home Capital Group, Inc. *(b) | 19,870 | 362,859 |
Hudbay Minerals, Inc. | 126,056 | 568,638 |
IAMGOLD Corp. * | 104,268 | 381,917 |
IGM Financial, Inc. | 24,000 | 526,908 |
Innergex Renewable Energy, Inc. | 13,400 | 241,588 |
Interfor Corp. * | 38,795 | 437,073 |
Intertape Polymer Group, Inc. | 20,685 | 235,216 |
Just Energy Group, Inc. *(b) | 6,513 | 33,486 |
Kirkland Lake Gold Ltd. | 10,048 | 457,790 |
Laurentian Bank of Canada | 12,611 | 248,093 |
Lundin Mining Corp. | 125,025 | 755,424 |
Maple Leaf Foods, Inc. | 27,363 | 498,256 |
Martinrea International, Inc. | 74,971 | 564,407 |
Medical Facilities Corp. | 53,686 | 202,285 |
MEG Energy Corp. * | 155,662 | 283,914 |
Morneau Shepell, Inc. | 7,112 | 142,155 |
Mullen Group Ltd. | 69,892 | 470,039 |
NFI Group, Inc. | 28,992 | 328,371 |
Norbord, Inc. | 19,500 | 640,633 |
Northland Power, Inc. | 15,746 | 509,266 |
Northview Apartment Real Estate Investment Trust | 7,200 | 195,199 |
OceanaGold Corp. * | 200,072 | 261,296 |
Pan American Silver Corp. | 15,505 | 492,743 |
Parex Resources, Inc. * | 24,600 | 239,482 |
Pason Systems, Inc. | 30,496 | 117,882 |
Peyto Exploration & Development Corp. | 264,202 | 571,119 |
PrairieSky Royalty Ltd. | 29,700 | 182,128 |
Precision Drilling Corp. * | 566,200 | 395,231 |
Premium Brands Holdings Corp. | 3,900 | 278,208 |
Primo Water Corp. | 30,700 | 384,816 |
Quebecor, Inc., Class B | 23,100 | 535,931 |
Richelieu Hardware Ltd. | 11,714 | 314,941 |
Ritchie Bros. Auctioneers, Inc. | 7,755 | 470,085 |
Russel Metals, Inc. | 46,917 | 624,363 |
Secure Energy Services, Inc. | 267,331 | 298,974 |
Security | Number of Shares | Value ($) |
Seven Generations Energy Ltd., Class A * | 155,800 | 551,960 |
ShawCor Ltd. | 149,996 | 244,308 |
Sienna Senior Living, Inc. (b) | 12,700 | 110,671 |
Sierra Wireless, Inc. * | 12,300 | 136,451 |
Sleep Country Canada Holdings, Inc. | 8,000 | 136,366 |
SmartCentres Real Estate Investment Trust | 24,525 | 387,673 |
SSR Mining, Inc. * | 6,800 | 125,864 |
Stantec, Inc. | 20,448 | 587,210 |
Stella-Jones, Inc. | 12,800 | 416,579 |
Superior Plus Corp. | 53,243 | 473,564 |
The North West Co., Inc. | 16,315 | 402,273 |
TMX Group Ltd. | 4,200 | 408,115 |
Toromont Industries Ltd. | 9,781 | 608,972 |
Tourmaline Oil Corp. | 68,677 | 889,713 |
Transat AT, Inc. *(b) | 45,638 | 159,286 |
Transcontinental, Inc., Class A | 49,120 | 581,786 |
Trican Well Service Ltd. *(b) | 397,066 | 345,715 |
Turquoise Hill Resources Ltd. * | 46,820 | 367,939 |
Uni-Select, Inc. | 47,220 | 215,845 |
Vermilion Energy, Inc. (b) | 118,500 | 292,626 |
Western Forest Products, Inc. | 427,595 | 276,013 |
Westshore Terminals Investment Corp. | 16,256 | 163,378 |
Wheaton Precious Metals Corp. | 19,389 | 889,772 |
Whitecap Resources, Inc. | 241,900 | 441,205 |
Winpak Ltd. | 6,700 | 206,989 |
Yamana Gold, Inc. | 94,700 | 526,703 |
42,959,795 | ||
Denmark 1.5% | ||
Chr. Hansen Holding A/S | 5,770 | 582,250 |
D/S Norden A/S | 17,878 | 254,218 |
Demant A/S * | 12,281 | 387,751 |
Dfds A/S * | 10,426 | 388,528 |
Drilling Co. of 1972 A/S * | 10,169 | 192,099 |
FLSmidth & Co. A/S * | 21,756 | 555,831 |
Genmab A/S * | 638 | 213,108 |
GN Store Nord A/S | 8,662 | 623,638 |
H. Lundbeck A/S | 8,088 | 228,012 |
Jyske Bank A/S * | 21,540 | 641,851 |
Matas A/S * | 29,817 | 333,062 |
Nilfisk Holding A/S * | 14,648 | 200,975 |
NKT A/S * | 10,584 | 287,741 |
Per Aarsleff Holding A/S | 8,441 | 322,876 |
Ringkjoebing Landbobank A/S | 1,638 | 124,669 |
Rockwool International A/S, B Shares | 1,325 | 518,628 |
Royal Unibrew A/S | 4,885 | 476,332 |
Scandinavian Tobacco Group A/S | 23,623 | 333,671 |
Schouw & Co. A/S | 3,918 | 341,187 |
SimCorp A/S | 2,042 | 243,557 |
Spar Nord Bank A/S * | 20,938 | 180,403 |
Sydbank A/S * | 28,183 | 481,977 |
Topdanmark A/S | 5,200 | 203,629 |
Tryg A/S | 16,117 | 447,291 |
8,563,284 | ||
Finland 1.1% | ||
Ahlstrom-Munksjo Oyj | 9,062 | 189,733 |
Cargotec Oyj, B Shares | 22,980 | 789,879 |
Finnair Oyj * | 363,879 | 155,108 |
Huhtamaki Oyj | 18,245 | 891,223 |
Kemira Oyj | 34,192 | 422,405 |
Kojamo Oyj | 6,681 | 137,714 |
Konecranes Oyj | 23,053 | 725,359 |
Metsa Board Oyj | 50,834 | 426,514 |
Security | Number of Shares | Value ($) |
Orion Oyj, Class B | 15,287 | 654,277 |
Sanoma Oyj | 26,546 | 390,788 |
TietoEVRY Oyj | 18,553 | 462,785 |
Tokmanni Group Corp. | 11,172 | 177,737 |
Uponor Oyj | 17,730 | 330,569 |
Valmet Oyj | 23,704 | 565,741 |
Yit Oyj | 45,394 | 239,494 |
6,559,326 | ||
France 3.8% | ||
Aeroports de Paris | 4,997 | 488,994 |
Albioma S.A. | 5,372 | 250,450 |
Alten S.A. * | 5,490 | 439,576 |
Amundi S.A. * | 7,677 | 503,550 |
Beneteau S.A. | 19,483 | 179,143 |
BioMerieux | 2,728 | 406,196 |
CGG S.A. * | 277,077 | 156,148 |
Cie Plastic Omnium S.A. | 25,766 | 586,345 |
Coface S.A. * | 30,859 | 241,107 |
Covivio | 7,330 | 436,506 |
Dassault Aviation S.A. * | 310 | 259,364 |
Derichebourg S.A. | 93,127 | 273,550 |
Edenred | 16,703 | 778,593 |
Elior Group S.A. | 86,649 | 326,563 |
Eramet S.A. * | 6,020 | 159,878 |
Eurofins Scientific SE * | 673 | 535,923 |
Euronext N.V. | 5,326 | 554,551 |
Europcar Mobility Group *(b) | 219,133 | 142,974 |
Fnac Darty S.A. * | 10,751 | 461,782 |
Gaztransport Et Technigaz S.A. | 1,993 | 191,043 |
Gecina S.A. | 3,981 | 494,213 |
Getlink SE * | 50,640 | 681,119 |
ICADE | 6,861 | 346,965 |
Iliad S.A. | 5,176 | 1,000,685 |
Imerys S.A. | 17,745 | 530,414 |
Ipsen S.A. | 4,105 | 373,883 |
IPSOS | 18,393 | 452,074 |
JCDecaux S.A. * | 18,197 | 280,859 |
Kaufman & Broad S.A. | 6,229 | 221,981 |
Korian S.A. *(b) | 12,058 | 339,703 |
Maisons du Monde S.A. * | 22,266 | 297,914 |
Mercialys S.A. | 31,084 | 148,861 |
Mersen S.A. * | 6,004 | 155,772 |
Metropole Television S.A. * | 29,812 | 327,469 |
Nexans S.A. * | 14,520 | 705,127 |
Nexity S.A. | 16,561 | 464,835 |
Orpea * | 5,204 | 519,798 |
Quadient S.A. | 34,278 | 446,694 |
Remy Cointreau S.A. | 2,356 | 397,769 |
Sartorius Stedim Biotech | 421 | 159,647 |
SEB S.A. | 5,162 | 838,894 |
Societe BIC S.A. | 12,732 | 609,871 |
Solocal Group * | 3,495,203 | 77,705 |
Sopra Steria Group * | 3,592 | 427,130 |
SPIE S.A. * | 38,868 | 611,655 |
Tarkett S.A. * | 25,216 | 305,484 |
Technicolor S.A. *(b) | 79,786 | 113,986 |
Television Francaise * | 73,556 | 431,762 |
Trigano S.A. | 1,990 | 264,444 |
UbiSoft Entertainment S.A. * | 10,281 | 908,156 |
Vallourec S.A. *(b) | 9,283 | 129,366 |
Vicat S.A. | 9,745 | 299,627 |
Worldline S.A. * | 11,848 | 877,539 |
21,613,637 | ||
Security | Number of Shares | Value ($) |
Germany 3.9% | ||
1&1 Drillisch AG | 11,385 | 239,790 |
Aareal Bank AG * | 26,722 | 461,722 |
Alstria Office REIT AG | 11,148 | 141,910 |
Aroundtown S.A. * | 54,637 | 262,075 |
Bechtle AG | 3,434 | 589,675 |
Befesa S.A. | 4,721 | 194,428 |
Bilfinger SE | 22,660 | 415,386 |
CANCOM SE | 4,649 | 183,792 |
Carl Zeiss Meditec AG | 2,034 | 262,813 |
CECONOMY AG * | 115,558 | 511,071 |
Cewe Stiftung & Co. KGaA | 1,515 | 144,414 |
CTS Eventim AG & Co. KGaA * | 4,816 | 213,480 |
Deutsche Euroshop AG * | 11,522 | 145,524 |
Deutsche Pfandbriefbank AG * | 87,968 | 537,585 |
Deutz AG * | 87,955 | 451,838 |
Dialog Semiconductor plc * | 14,529 | 553,902 |
Duerr AG | 19,723 | 567,201 |
DWS Group GmbH & Co. KGaA * | 7,163 | 243,222 |
ElringKlinger AG * | 34,651 | 350,293 |
Fielmann AG * | 3,717 | 281,818 |
Fraport AG Frankfurt Airport Services Worldwide *(b) | 10,607 | 383,639 |
Gerresheimer AG | 5,888 | 591,887 |
Grand City Properties S.A. | 10,112 | 229,528 |
GRENKE AG | 1,820 | 71,051 |
Hamburger Hafen und Logistik AG | 8,833 | 148,076 |
Heidelberger Druckmaschinen AG * | 313,333 | 175,373 |
HOCHTIEF AG | 6,566 | 483,032 |
Hornbach Holding AG & Co. KGaA | 7,312 | 704,267 |
Indus Holding AG | 10,343 | 305,968 |
Jenoptik AG | 9,574 | 236,261 |
JOST Werke AG * | 4,030 | 151,132 |
Kloeckner & Co. SE * | 153,376 | 861,970 |
Knorr-Bremse AG | 6,980 | 808,292 |
Koenig & Bauer AG * | 8,576 | 177,131 |
Krones AG | 6,548 | 374,139 |
LEG Immobilien AG | 4,803 | 649,139 |
Nordex SE * | 25,225 | 363,520 |
Norma Group SE | 11,172 | 346,626 |
Pfeiffer Vacuum Technology AG | 945 | 172,359 |
Puma SE * | 7,997 | 700,082 |
QIAGEN N.V. * | 12,073 | 573,260 |
Rational AG | 252 | 188,862 |
RTL Group S.A. * | 20,813 | 790,831 |
SAF-Holland SE * | 37,649 | 320,061 |
Scout24 AG | 5,661 | 456,705 |
Siemens Healthineers AG | 13,417 | 575,975 |
Siltronic AG | 4,462 | 422,263 |
Sixt SE * | 3,740 | 282,575 |
Software AG | 9,247 | 331,270 |
Stabilus S.A. | 4,266 | 241,854 |
Stroeer SE & Co. KGaA * | 2,631 | 190,188 |
Suedzucker AG | 40,698 | 585,707 |
TAG Immobilien AG * | 13,949 | 411,072 |
Takkt AG * | 19,583 | 208,105 |
Talanx AG * | 11,928 | 351,651 |
Wacker Chemie AG | 7,874 | 759,621 |
Wacker Neuson SE * | 14,509 | 266,766 |
Zalando SE * | 8,679 | 808,226 |
22,450,403 | ||
Greece 0.0% | ||
TT Hellenic Postbank S.A. *(a) | 24,275 | — |
Security | Number of Shares | Value ($) |
Hong Kong 4.1% | ||
Asia Cement China Holdings Corp. | 104,500 | 95,905 |
ASM Pacific Technology Ltd. | 58,200 | 586,907 |
BOC Aviation Ltd. | 31,200 | 193,195 |
Brightoil Petroleum Holdings Ltd. *(a) | 1,150,000 | — |
Budweiser Brewing Co. APAC Ltd. | 81,600 | 240,647 |
Cafe De Coral Holdings Ltd. | 124,000 | 256,308 |
Cathay Pacific Airways Ltd. * | 453,363 | 308,061 |
China Travel International Investment Hong Kong Ltd. * | 1,240,000 | 158,688 |
Chow Sang Sang Holdings International Ltd. | 238,000 | 260,354 |
Chow Tai Fook Jewellery Group Ltd. | 391,000 | 499,718 |
CITIC Telecom International Holdings Ltd. | 538,000 | 170,900 |
CK Infrastructure Holdings Ltd. | 30,000 | 141,518 |
Cowell e Holdings, Inc. | 389,000 | 171,300 |
Dah Sing Financial Holdings Ltd. | 69,200 | 172,367 |
Dairy Farm International Holdings Ltd. | 93,723 | 353,038 |
FIH Mobile Ltd. * | 3,744,000 | 411,490 |
First Pacific Co., Ltd. | 3,262,000 | 1,013,397 |
Fortune REIT | 186,000 | 155,353 |
Giordano International Ltd. | 1,222,000 | 194,475 |
Haitong International Securities Group Ltd. | 785,904 | 179,117 |
Hang Lung Group Ltd. | 309,000 | 685,921 |
Hang Lung Properties Ltd. | 342,000 | 832,595 |
Hutchison Telecommunications Hong Kong Holdings Ltd. | 1,052,000 | 157,641 |
Hysan Development Co., Ltd. | 97,000 | 309,245 |
IGG, Inc. | 258,000 | 279,282 |
Johnson Electric Holdings Ltd. | 181,000 | 374,508 |
K Wah International Holdings Ltd. | 569,000 | 270,021 |
Kerry Logistics Network Ltd. | 213,500 | 445,891 |
Kerry Properties Ltd. | 268,500 | 658,772 |
Lee & Man Paper Manufacturing Ltd. | 636,000 | 481,994 |
Lifestyle International Holdings Ltd. * | 199,000 | 156,298 |
Luk Fook Holdings International Ltd. | 208,000 | 508,594 |
Man Wah Holdings Ltd. | 284,400 | 396,919 |
Melco International Development Ltd. | 201,000 | 326,272 |
MGM China Holdings Ltd. | 154,000 | 203,229 |
Minth Group Ltd. | 147,500 | 610,354 |
MMG Ltd. *(b) | 1,472,000 | 349,108 |
NagaCorp Ltd. | 172,000 | 177,908 |
Nexteer Automotive Group Ltd. | 491,000 | 410,035 |
NWS Holdings Ltd. | 648,000 | 568,809 |
Pacific Basin Shipping Ltd. | 1,916,000 | 279,885 |
Pacific Textile Holdings Ltd. | 308,000 | 175,747 |
Pou Sheng International Holdings Ltd. * | 973,000 | 223,002 |
Power Assets Holdings Ltd. | 31,143 | 160,377 |
Prada S.p.A. * | 118,400 | 468,618 |
Road King Infrastructure Ltd. | 153,000 | 181,968 |
Sa Sa International Holdings Ltd. *(b) | 826,518 | 118,665 |
Samsonite International S.A. * | 617,800 | 630,248 |
Shangri-La Asia Ltd. * | 296,000 | 232,902 |
Shui On Land Ltd. | 2,180,000 | 287,450 |
Shun Tak Holdings Ltd. | 610,000 | 179,040 |
SITC International Holdings Co., Ltd. | 237,000 | 366,083 |
SJM Holdings Ltd. | 612,000 | 635,445 |
SmarTone Telecommunications Holdings Ltd. | 364,500 | 196,671 |
Stella International Holdings Ltd. | 354,000 | 362,761 |
Sun Art Retail Group Ltd. | 533,500 | 578,016 |
Swire Properties Ltd. | 154,800 | 415,404 |
The Bank of East Asia Ltd. | 323,667 | 583,900 |
Security | Number of Shares | Value ($) |
Tingyi (Cayman Islands) Holding Corp. | 438,000 | 801,506 |
Truly International Holdings Ltd. * | 2,072,000 | 236,091 |
Uni-President China Holdings Ltd. | 280,000 | 242,542 |
Value Partners Group Ltd. | 315,000 | 138,021 |
Vitasoy International Holdings Ltd. | 60,000 | 242,694 |
VSTECS Holdings Ltd. | 542,000 | 339,078 |
VTech Holdings Ltd. | 75,900 | 503,598 |
Wynn Macau Ltd. * | 264,800 | 365,857 |
Xinyi Glass Holdings Ltd. | 410,000 | 900,375 |
23,612,078 | ||
Ireland 0.4% | ||
AIB Group plc * | 330,582 | 373,949 |
Glanbia plc | 53,996 | 513,588 |
Irish Continental Group plc * | 37,773 | 138,738 |
Kingspan Group plc * | 12,386 | 1,079,738 |
Total Produce plc | 288,729 | 377,718 |
2,483,731 | ||
Israel 1.0% | ||
Azrieli Group Ltd. | 3,601 | 169,016 |
Delek Group Ltd. * | 9,175 | 167,838 |
Elbit Systems Ltd. | 2,929 | 330,050 |
FIBI Holdings Ltd. | 4,844 | 122,144 |
First International Bank of Israel Ltd. | 8,594 | 189,981 |
Gazit-Globe Ltd. | 40,598 | 168,154 |
Harel Insurance Investments & Finances Service Ltd. * | 28,991 | 210,624 |
Israel Discount Bank Ltd., Class A | 194,260 | 543,745 |
Mizrahi Tefahot Bank Ltd. | 16,839 | 328,364 |
Nice Ltd. * | 2,896 | 658,635 |
Oil Refineries Ltd. * | 1,777,752 | 317,315 |
Partner Communications Co., Ltd. * | 33,366 | 130,450 |
Paz Oil Co., Ltd. | 7,158 | 661,764 |
Shikun & Binui Ltd. * | 37,605 | 175,095 |
Shufersal Ltd. | 30,891 | 232,499 |
The Israel Corp., Ltd. * | 4,076 | 455,036 |
The Phoenix Holdings Ltd. * | 31,427 | 164,731 |
Tower Semiconductor Ltd. * | 23,192 | 475,667 |
5,501,108 | ||
Italy 2.2% | ||
ACEA S.p.A. | 11,580 | 229,907 |
Alitalia - Linee Aeree Italiane S.p.A. *(a) | 14,782 | — |
Amplifon S.p.A. * | 6,680 | 242,869 |
Anima Holding S.p.A. | 73,725 | 276,231 |
ASTM S.p.A. * | 19,253 | 358,322 |
Autogrill S.p.A. * | 70,074 | 262,660 |
Azimut Holding S.p.A. | 22,013 | 371,057 |
Banca Carige S.p.A. *(a) | 14,056,361 | 2,456 |
Banca Farmafactoring S.p.A. * | 21,370 | 98,592 |
Banca Generali S.p.A. * | 8,115 | 231,068 |
Banca IFIS S.p.A. * | 16,892 | 135,503 |
Banca Mediolanum S.p.A. | 48,910 | 334,159 |
Banca Monte dei Paschi di Siena S.p.A. *(b) | 186,214 | 224,811 |
Banca Popolare Di Sondrio Scarl * | 313,624 | 551,257 |
BPER Banca *(b) | 426,888 | 507,202 |
Buzzi Unicem S.p.A. | 22,777 | 492,844 |
Cattolica Assicurazioni SC * | 70,820 | 350,163 |
Cerved Group S.p.A. * | 36,816 | 260,502 |
Davide Campari-Milano N.V. | 40,856 | 427,001 |
De'Longhi S.p.A. * | 16,494 | 527,506 |
DiaSorin S.p.A. | 1,191 | 261,459 |
Security | Number of Shares | Value ($) |
Enav S.p.A. | 59,569 | 206,702 |
ERG S.p.A. | 13,213 | 299,237 |
Esprinet S.p.A. * | 31,821 | 270,586 |
Fincantieri S.p.A. *(b) | 190,386 | 106,830 |
FinecoBank Banca Fineco S.p.A. * | 41,133 | 564,751 |
Freni Brembo S.p.A. * | 40,448 | 420,258 |
Industria Macchine Automatiche S.p.A. * | 2,783 | 218,945 |
Infrastrutture Wireless Italiane S.p.A. | 16,289 | 175,948 |
Interpump Group S.p.A. | 10,243 | 386,893 |
Iren S.p.A. | 206,110 | 467,737 |
Italgas S.p.A. | 104,606 | 604,490 |
Maire Tecnimont S.p.A. * | 55,174 | 74,700 |
MARR S.p.A. * | 10,822 | 146,507 |
Mediaset S.p.A. * | 227,526 | 386,860 |
Moncler S.p.A. * | 13,231 | 529,395 |
OVS S.p.A. * | 264,458 | 238,456 |
Piaggio & C. S.p.A. | 55,752 | 152,154 |
Recordati Industria Chimica e Farmaceutica S.p.A. | 8,895 | 461,158 |
Reply S.p.A. | 1,344 | 144,395 |
Salvatore Ferragamo S.p.A. * | 20,766 | 267,877 |
Tod's S.p.A. * | 6,751 | 142,218 |
UnipolSai Assicurazioni S.p.A. | 179,722 | 417,399 |
Webuild S.p.A. | 118,172 | 126,605 |
12,955,670 | ||
Japan 34.4% | ||
ABC-Mart, Inc. | 5,900 | 299,274 |
Acom Co., Ltd. | 46,800 | 210,320 |
Adastria Co., Ltd. | 17,480 | 303,399 |
ADEKA Corp. | 44,700 | 578,051 |
Advantest Corp. | 12,000 | 695,076 |
Aeon Delight Co., Ltd. | 7,400 | 194,811 |
AEON Financial Service Co., Ltd. | 41,300 | 422,988 |
Aeon Mall Co., Ltd. | 34,230 | 533,967 |
Aica Kogyo Co., Ltd. | 13,300 | 447,945 |
Aida Engineering Ltd. | 26,000 | 198,857 |
Ain Holdings, Inc. | 6,800 | 475,643 |
Aisan Industry Co., Ltd. | 41,000 | 175,733 |
Alconix Corp. | 15,600 | 220,845 |
Alpen Co., Ltd. | 10,700 | 208,061 |
Amano Corp. | 17,100 | 402,473 |
Anritsu Corp. | 15,400 | 337,144 |
AOKI Holdings, Inc. | 35,000 | 152,137 |
Aoyama Trading Co., Ltd. | 71,400 | 340,129 |
Aozora Bank Ltd. | 35,000 | 575,016 |
Arata Corp. | 12,400 | 602,606 |
Arcs Co., Ltd. | 33,400 | 739,393 |
Asahi Diamond Industrial Co., Ltd. | 32,500 | 149,135 |
Asahi Holdings, Inc. | 10,000 | 326,099 |
Asahi Intecc Co., Ltd. | 3,900 | 120,854 |
Asanuma Corp. | 2,800 | 108,179 |
ASKUL Corp. | 5,300 | 203,553 |
Autobacs Seven Co., Ltd. | 31,000 | 396,845 |
Avex, Inc. | 22,000 | 212,530 |
Azbil Corp. | 25,900 | 1,051,107 |
Belluna Co., Ltd. | 25,000 | 204,685 |
Benesse Holdings, Inc. | 21,800 | 513,952 |
BML, Inc. | 6,100 | 171,498 |
Bunka Shutter Co., Ltd. | 28,900 | 226,904 |
Calbee, Inc. | 16,300 | 500,029 |
Canon Electronics, Inc. | 9,800 | 135,202 |
Canon Marketing Japan, Inc. | 22,100 | 470,799 |
Capcom Co., Ltd. | 7,500 | 410,187 |
Cawachi Ltd. | 9,700 | 275,122 |
Central Glass Co., Ltd. | 24,800 | 532,172 |
Security | Number of Shares | Value ($) |
Chiyoda Corp. * | 83,200 | 180,424 |
Chudenko Corp. | 10,500 | 213,411 |
Chugoku Marine Paints Ltd. | 21,600 | 206,203 |
Citizen Watch Co., Ltd. * | 216,600 | 573,840 |
CKD Corp. | 14,800 | 246,329 |
Cocokara fine, Inc. | 10,200 | 670,102 |
Colowide Co., Ltd. | 8,600 | 128,764 |
Cosmos Pharmaceutical Corp. | 3,070 | 521,407 |
Create SD Holdings Co., Ltd. | 6,600 | 212,850 |
Credit Saison Co., Ltd. | 57,500 | 621,561 |
CyberAgent, Inc. | 12,500 | 786,229 |
Daido Metal Co., Ltd. | 33,400 | 161,924 |
Daifuku Co., Ltd. | 9,300 | 958,995 |
Daihen Corp. | 6,900 | 266,844 |
Daiho Corp. | 9,700 | 311,671 |
Daiichikosho Co., Ltd. | 12,200 | 417,447 |
Daiki Aluminium Industry Co., Ltd. | 21,500 | 133,003 |
Daikyonishikawa Corp. | 56,100 | 310,959 |
Daio Paper Corp. | 28,300 | 409,164 |
Daiseki Co., Ltd. | 7,200 | 183,282 |
Daishi Hokuetsu Financial Group, Inc. | 10,300 | 197,820 |
Daiwabo Holdings Co., Ltd. | 10,500 | 687,373 |
DCM Holdings Co., Ltd. | 52,000 | 644,315 |
Dena Co., Ltd. | 31,586 | 538,923 |
Descente Ltd. * | 13,600 | 210,947 |
Dexerials Corp. | 20,000 | 228,801 |
Disco Corp. | 2,675 | 722,005 |
DMG Mori Co., Ltd. | 25,200 | 336,935 |
Doshisha Co., Ltd. | 12,700 | 233,684 |
Doutor Nichires Holdings Co., Ltd. | 13,200 | 185,301 |
Dowa Holdings Co., Ltd. | 25,800 | 738,366 |
DTS Corp. | 10,200 | 198,380 |
Duskin Co., Ltd. | 15,400 | 393,107 |
DyDo Group Holdings, Inc. | 5,100 | 263,886 |
Eagle Industry Co., Ltd. | 26,600 | 211,613 |
Earth Corp. | 3,100 | 196,916 |
Eizo Corp. | 6,150 | 232,130 |
Exedy Corp. | 30,500 | 384,514 |
Ezaki Glico Co., Ltd. | 14,600 | 605,542 |
F.C.C. Co., Ltd. | 19,700 | 378,032 |
FamilyMart Co., Ltd. | 20,100 | 441,803 |
Fancl Corp. | 7,000 | 220,577 |
Foster Electric Co., Ltd. | 25,700 | 295,657 |
FP Corp. | 6,660 | 265,612 |
Fuji Co., Ltd. | 16,100 | 298,083 |
Fuji Corp. | 20,938 | 420,937 |
Fuji Media Holdings, Inc. | 26,600 | 255,824 |
Fuji Oil Co., Ltd. * | 125,800 | 221,325 |
Fuji Oil Holdings, Inc. | 13,400 | 423,997 |
Fuji Seal International, Inc. | 15,200 | 283,918 |
Fuji Soft, Inc. | 6,100 | 326,262 |
Fujimori Kogyo Co., Ltd. | 7,100 | 290,864 |
Fujitec Co., Ltd. | 23,600 | 514,256 |
Fujitsu General Ltd. | 16,000 | 444,099 |
Fukuoka Financial Group, Inc. | 40,200 | 672,439 |
Fukuyama Transporting Co., Ltd. | 11,000 | 461,032 |
Furukawa Co., Ltd. | 20,200 | 208,932 |
Futaba Corp. | 19,900 | 169,461 |
Futaba Industrial Co., Ltd. | 64,400 | 325,113 |
Fuyo General Lease Co., Ltd. | 3,100 | 177,996 |
G-Tekt Corp. | 24,400 | 274,924 |
Geo Holdings Corp. | 33,000 | 491,003 |
Glory Ltd. | 25,300 | 533,284 |
Gree, Inc. | 43,100 | 224,745 |
GS Yuasa Corp. | 45,300 | 790,694 |
GungHo Online Entertainment, Inc. * | 21,050 | 523,032 |
Gunze Ltd. | 8,100 | 298,128 |
H.I.S. Co., Ltd. *(b) | 13,400 | 180,701 |
Security | Number of Shares | Value ($) |
H.U. Group Holdings, Inc. | 27,700 | 704,751 |
Hamakyorex Co., Ltd. | 6,400 | 181,582 |
Hamamatsu Photonics K.K. | 11,500 | 578,677 |
Happinet Corp. | 17,700 | 236,985 |
Hazama Ando Corp. | 93,400 | 580,260 |
Heiwa Corp. | 19,600 | 316,875 |
Heiwa Real Estate Co., Ltd. | 5,600 | 163,490 |
Heiwado Co., Ltd. | 23,800 | 483,245 |
Hikari Tsushin, Inc. | 2,050 | 480,817 |
Hirogin Holdings, Inc. | 94,600 | 514,873 |
Hirose Electric Co., Ltd. | 5,739 | 801,075 |
Hisamitsu Pharmaceutical Co., Inc. | 12,700 | 607,494 |
Hitachi Capital Corp. | 9,400 | 198,802 |
Hitachi Transport System Ltd. | 15,000 | 475,482 |
Hitachi Zosen Corp. | 131,000 | 527,573 |
Hogy Medical Co., Ltd. | 4,900 | 143,771 |
Hokuetsu Corp. | 106,300 | 351,140 |
Hokuhoku Financial Group, Inc. | 51,300 | 486,805 |
Horiba Ltd. | 8,900 | 437,803 |
Hoshizaki Corp. | 7,500 | 598,944 |
Hosiden Corp. | 37,600 | 333,340 |
House Foods Group, Inc. | 16,200 | 536,268 |
Hulic Co., Ltd. | 42,400 | 392,747 |
Ibiden Co., Ltd. | 29,700 | 1,210,972 |
IBJ Leasing Co., Ltd. | 5,000 | 127,459 |
Inaba Denki Sangyo Co., Ltd. | 24,400 | 587,392 |
Inabata & Co., Ltd. | 47,900 | 555,680 |
Internet Initiative Japan, Inc. | 7,100 | 317,657 |
Iriso Electronics Co., Ltd. | 4,400 | 167,527 |
Ishihara Sangyo Kaisha Ltd. | 26,800 | 174,063 |
Ito En Ltd. | 10,200 | 645,999 |
Itochu Enex Co., Ltd. | 48,600 | 457,196 |
Itochu Techno-Solutions Corp. | 14,600 | 495,340 |
Itoham Yonekyu Holdings, Inc. | 124,900 | 836,211 |
Iwatani Corp. | 24,000 | 1,088,941 |
Izumi Co., Ltd. | 18,800 | 637,578 |
Jaccs Co., Ltd. | 11,600 | 202,578 |
JAFCO Group Co., Ltd. | 6,400 | 289,446 |
Japan Airport Terminal Co., Ltd. | 6,600 | 286,646 |
Japan Aviation Electronics Industry Ltd. | 24,300 | 334,647 |
Japan Display, Inc. * | 1,089,400 | 533,597 |
Japan Exchange Group, Inc. | 41,400 | 1,010,707 |
Japan Petroleum Exploration Co., Ltd. | 18,400 | 290,939 |
Joyful Honda Co., Ltd. | 28,900 | 449,570 |
Juki Corp. | 30,400 | 128,860 |
JVCKenwood Corp. | 185,100 | 250,435 |
Kadokawa Corp. | 13,000 | 395,389 |
Kaga Electronics Co., Ltd. | 13,200 | 255,248 |
Kagome Co., Ltd. | 16,800 | 575,426 |
Kakaku.com, Inc. | 8,700 | 229,919 |
Kaken Pharmaceutical Co., Ltd. | 7,600 | 299,334 |
Kameda Seika Co., Ltd. | 3,200 | 144,897 |
Kamigumi Co., Ltd. | 36,000 | 644,072 |
Kanamoto Co., Ltd. | 15,200 | 313,572 |
Kandenko Co., Ltd. | 54,900 | 411,985 |
Kanematsu Corp. | 56,900 | 674,683 |
Kansai Paint Co., Ltd. | 30,700 | 791,511 |
Kasai Kogyo Co., Ltd. | 58,900 | 195,533 |
Kato Sangyo Co., Ltd. | 16,700 | 554,874 |
Kato Works Co., Ltd. | 12,500 | 121,434 |
Kawasaki Kisen Kaisha Ltd. * | 70,900 | 866,395 |
Keihan Holdings Co., Ltd. | 14,500 | 550,858 |
Keikyu Corp. | 42,000 | 587,344 |
Keisei Electric Railway Co., Ltd. | 18,500 | 517,522 |
KH Neochem Co., Ltd. | 10,100 | 236,343 |
Kinden Corp. | 52,200 | 818,488 |
Kintetsu World Express, Inc. | 17,500 | 372,016 |
Security | Number of Shares | Value ($) |
Kissei Pharmaceutical Co., Ltd. | 7,400 | 145,625 |
Kitz Corp. | 40,600 | 219,722 |
Kobayashi Pharmaceutical Co., Ltd. | 5,200 | 506,718 |
Kohnan Shoji Co., Ltd. | 14,600 | 498,531 |
Kokuyo Co., Ltd. | 39,000 | 529,918 |
Komeri Co., Ltd. | 15,800 | 465,181 |
Komori Corp. | 28,000 | 179,778 |
Konami Holdings Corp. | 17,500 | 684,920 |
Konoike Transport Co., Ltd. | 22,000 | 229,997 |
Kose Corp. | 3,500 | 446,164 |
Kumagai Gumi Co., Ltd. | 16,900 | 390,612 |
Kumiai Chemical Industry Co., Ltd. | 12,400 | 119,211 |
Kura Sushi, Inc. | 3,000 | 180,934 |
Kureha Corp. | 7,900 | 335,358 |
Kurita Water Industries Ltd. | 28,500 | 847,981 |
Kusuri no Aoki Holdings Co., Ltd. | 2,100 | 167,634 |
KYB Corp. * | 21,100 | 436,284 |
Kyoei Steel Ltd. | 14,200 | 178,784 |
Kyokuto Kaihatsu Kogyo Co., Ltd. | 16,400 | 202,316 |
KYORIN Holdings, Inc. | 14,700 | 265,839 |
Kyoritsu Maintenance Co., Ltd. | 4,800 | 171,745 |
Kyowa Exeo Corp. | 30,500 | 703,235 |
Kyowa Kirin Co., Ltd. | 32,600 | 809,568 |
Kyudenko Corp. | 15,200 | 414,827 |
Kyushu Financial Group, Inc. | 78,700 | 368,122 |
Lawson, Inc. | 13,000 | 597,292 |
Leopalace21 Corp. * | 329,900 | 516,857 |
Life Corp. | 9,700 | 341,144 |
Lintec Corp. | 19,900 | 441,139 |
Lion Corp. | 36,900 | 752,442 |
M3, Inc. | 6,900 | 465,996 |
Mabuchi Motor Co., Ltd. | 15,000 | 618,431 |
Macnica Fuji Electronics Holdings, Inc. | 28,500 | 509,685 |
Maeda Corp. | 58,700 | 422,649 |
Maeda Road Construction Co., Ltd. | 19,300 | 321,735 |
Makino Milling Machine Co., Ltd. | 10,750 | 370,018 |
Mandom Corp. | 10,100 | 150,450 |
Marudai Food Co., Ltd. | 21,200 | 332,928 |
Maruha Nichiro Corp. | 25,800 | 540,382 |
Marui Group Co., Ltd. | 32,600 | 589,145 |
Maruichi Steel Tube Ltd. | 16,400 | 376,242 |
Max Co., Ltd. | 11,300 | 158,004 |
Maxell Holdings Ltd. * | 29,200 | 305,275 |
MCJ Co., Ltd. | 21,400 | 197,221 |
Mebuki Financial Group, Inc. | 220,700 | 443,428 |
Megmilk Snow Brand Co., Ltd. | 26,400 | 572,070 |
Meidensha Corp. | 19,500 | 298,175 |
Meitec Corp. | 4,900 | 242,918 |
Ministop Co., Ltd. | 10,100 | 126,321 |
Mirait Holdings Corp. | 29,100 | 414,271 |
Mitsubishi Logisnext Co., Ltd. | 17,000 | 143,487 |
Mitsubishi Logistics Corp. | 18,000 | 473,710 |
Mitsubishi Pencil Co., Ltd. | 13,000 | 167,353 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 74,700 | 316,503 |
Mitsui E&S Holdings Co., Ltd. * | 91,200 | 288,789 |
Mitsui Matsushima Holdings Co., Ltd. | 15,300 | 99,673 |
Mitsui Sugar Co., Ltd. | 7,800 | 135,601 |
Mitsui-Soko Holdings Co., Ltd. | 13,300 | 234,765 |
Miura Co., Ltd. | 8,000 | 376,915 |
Mizuno Corp. | 14,300 | 239,210 |
Mochida Pharmaceutical Co., Ltd. | 6,200 | 226,386 |
Modec, Inc. | 9,200 | 133,642 |
Morinaga & Co., Ltd. | 9,000 | 341,957 |
Morinaga Milk Industry Co., Ltd. | 18,500 | 891,935 |
Morita Holdings Corp. | 12,000 | 219,372 |
MOS Food Services, Inc. | 5,900 | 160,936 |
Musashi Seimitsu Industry Co., Ltd. | 28,400 | 296,860 |
Security | Number of Shares | Value ($) |
Nabtesco Corp. | 23,900 | 892,862 |
Nachi-Fujikoshi Corp. | 10,800 | 428,086 |
Nankai Electric Railway Co., Ltd. | 26,000 | 593,704 |
NEC Networks & System Integration Corp. | 17,800 | 308,659 |
NET One Systems Co., Ltd. | 12,100 | 361,772 |
Nexon Co., Ltd. | 31,322 | 872,972 |
Nichi-iko Pharmaceutical Co., Ltd. | 18,500 | 183,155 |
Nichias Corp. | 18,700 | 405,010 |
Nichicon Corp. | 27,900 | 225,899 |
Nichiha Corp. | 11,200 | 326,358 |
NichiiGakkan Co., Ltd. | 5,100 | 81,256 |
Nifco, Inc. | 27,400 | 820,140 |
Nihon Kohden Corp. | 15,000 | 469,179 |
Nihon Parkerizing Co., Ltd. | 29,800 | 293,681 |
Nihon Unisys Ltd. | 12,400 | 365,508 |
Nikkiso Co., Ltd. | 22,400 | 214,761 |
Nikkon Holdings Co., Ltd. | 21,600 | 413,395 |
Nippo Corp. | 20,500 | 526,566 |
Nippon Chemi-Con Corp. * | 14,800 | 189,286 |
Nippon Denko Co., Ltd. * | 98,900 | 232,981 |
Nippon Densetsu Kogyo Co., Ltd. | 13,100 | 253,831 |
Nippon Flour Mills Co., Ltd. | 27,100 | 434,679 |
Nippon Gas Co., Ltd. | 9,100 | 434,040 |
Nippon Kayaku Co., Ltd. | 61,400 | 528,392 |
Nippon Koei Co., Ltd. | 5,700 | 150,267 |
Nippon Paint Holdings Co., Ltd. | 11,200 | 1,008,896 |
Nippon Sanso Holdings Corp. | 24,800 | 363,609 |
Nippon Sheet Glass Co., Ltd. * | 143,100 | 497,520 |
Nippon Shinyaku Co., Ltd. | 3,500 | 250,096 |
Nippon Signal Co., Ltd. | 19,600 | 170,695 |
Nippon Soda Co., Ltd. | 12,700 | 333,283 |
Nippon Suisan Kaisha Ltd. | 146,800 | 565,502 |
Nippon Television Holdings, Inc. | 15,400 | 162,508 |
Nippon Yakin Kogyo Co., Ltd. | 9,610 | 138,336 |
Nipro Corp. | 43,900 | 461,924 |
Nishi-Nippon Financial Holdings, Inc. | 55,100 | 373,266 |
Nishi-Nippon Railroad Co., Ltd. | 25,500 | 673,748 |
Nishimatsu Construction Co., Ltd. | 29,400 | 571,096 |
Nishimatsuya Chain Co., Ltd. | 23,500 | 382,133 |
Nishio Rent All Co., Ltd. | 9,800 | 190,199 |
Nissan Chemical Corp. | 17,200 | 912,815 |
Nissha Co., Ltd. | 25,500 | 300,233 |
Nisshinbo Holdings, Inc. | 99,700 | 664,508 |
Nissin Electric Co., Ltd. | 16,700 | 167,184 |
Nissin Foods Holdings Co., Ltd. | 10,400 | 900,530 |
Nitta Corp. | 5,800 | 122,300 |
Nitto Boseki Co., Ltd. | 4,700 | 172,622 |
Nitto Kogyo Corp. | 11,500 | 212,437 |
NOF Corp. | 14,300 | 537,427 |
Nojima Corp. | 14,900 | 418,169 |
Nomura Co., Ltd. | 17,900 | 115,591 |
Nomura Research Institute Ltd. | 29,880 | 880,787 |
Noritake Co., Ltd. | 7,400 | 217,686 |
Noritz Corp. | 26,600 | 387,877 |
North Pacific Bank Ltd. | 132,900 | 281,232 |
NS Solutions Corp. | 7,900 | 231,348 |
NS United Kaiun Kaisha Ltd. | 9,600 | 130,254 |
NSD Co., Ltd. | 10,200 | 179,159 |
Obic Co., Ltd. | 2,200 | 389,495 |
Oiles Corp. | 12,480 | 174,287 |
Okamoto Industries, Inc. | 5,300 | 218,178 |
Okamura Corp. | 47,000 | 358,941 |
Okasan Securities Group, Inc. | 72,900 | 238,225 |
Oki Electric Industry Co., Ltd. | 58,000 | 538,460 |
OKUMA Corp. | 11,300 | 548,477 |
Okumura Corp. | 15,400 | 356,754 |
Onward Holdings Co., Ltd. | 105,400 | 206,395 |
Security | Number of Shares | Value ($) |
Open House Co., Ltd. | 8,400 | 286,038 |
Oracle Corp., Japan | 2,600 | 259,844 |
Orient Corp. | 170,900 | 189,647 |
Osaka Soda Co., Ltd. | 7,600 | 181,041 |
OSG Corp. | 25,600 | 383,515 |
Outsourcing, Inc. | 18,000 | 166,932 |
Pacific Industrial Co., Ltd. | 24,100 | 242,029 |
PALTAC Corp. | 15,000 | 838,613 |
Paramount Bed Holdings Co., Ltd. | 5,700 | 219,609 |
Park24 Co., Ltd. * | 22,900 | 309,330 |
Penta-Ocean Construction Co., Ltd. | 114,400 | 725,431 |
Persol Holdings Co., Ltd. | 51,600 | 781,544 |
Pigeon Corp. | 9,600 | 442,095 |
Pilot Corp. | 9,600 | 267,780 |
Piolax, Inc. | 10,803 | 158,475 |
Plenus Co., Ltd. | 12,900 | 210,787 |
Pola Orbis Holdings, Inc. | 16,100 | 317,478 |
Press Kogyo Co., Ltd. | 121,400 | 323,070 |
Prima Meat Packers Ltd. | 14,600 | 416,584 |
Qol Holdings Co., Ltd. | 10,000 | 109,064 |
Raito Kogyo Co., Ltd. | 15,400 | 218,414 |
Raiznext Corp. | 16,300 | 188,901 |
Relia, Inc. | 13,800 | 157,021 |
Relo Group, Inc. | 11,000 | 263,986 |
Rengo Co., Ltd. | 99,900 | 768,625 |
Resorttrust, Inc. | 17,300 | 243,648 |
Restar Holdings Corp. | 14,400 | 308,463 |
Rinnai Corp. | 9,100 | 896,682 |
Rohto Pharmaceutical Co., Ltd. | 14,200 | 443,934 |
Round One Corp. | 25,400 | 199,496 |
Royal Holdings Co., Ltd. | 9,900 | 168,220 |
Ryobi Ltd. | 30,200 | 326,443 |
Ryosan Co., Ltd. | 22,500 | 416,244 |
Ryoyo Electro Corp. | 9,700 | 267,563 |
S Foods, Inc. | 11,000 | 366,363 |
Saizeriya Co., Ltd. | 10,600 | 183,990 |
Sakai Chemical Industry Co., Ltd. | 9,500 | 175,845 |
Sakata INX Corp. | 24,500 | 255,229 |
Sakata Seed Corp. | 4,600 | 162,317 |
San-A Co., Ltd. | 7,100 | 295,719 |
Sanden Holdings Corp. * | 52,000 | 173,314 |
Sangetsu Corp. | 22,300 | 321,382 |
Sanken Electric Co., Ltd. | 11,500 | 368,164 |
Sanki Engineering Co., Ltd. | 18,800 | 203,823 |
Sankyo Co., Ltd. | 13,100 | 333,882 |
Sankyo Tateyama, Inc. | 34,600 | 307,216 |
Sankyu, Inc. | 18,800 | 673,446 |
Sanoh Industrial Co., Ltd. (b) | 18,100 | 104,831 |
Sanrio Co., Ltd. | 11,500 | 211,528 |
Sanwa Holdings Corp. | 74,700 | 852,095 |
Sanyo Chemical Industries Ltd. | 4,750 | 201,295 |
Sanyo Denki Co., Ltd. | 3,400 | 149,889 |
Sanyo Special Steel Co., Ltd. * | 20,200 | 198,059 |
Sapporo Holdings Ltd. | 30,100 | 491,501 |
Sato Holdings Corp. | 7,800 | 148,525 |
Sawai Pharmaceutical Co., Ltd. | 8,240 | 397,165 |
SCREEN Holdings Co., Ltd. | 10,400 | 569,644 |
SCSK Corp. | 7,676 | 381,662 |
Sega Sammy Holdings, Inc. | 62,400 | 781,970 |
Seibu Holdings, Inc. | 59,800 | 597,875 |
Seiko Holdings Corp. | 17,600 | 221,687 |
Seiren Co., Ltd. | 17,700 | 280,508 |
Sekisui Jushi Corp. | 7,300 | 147,408 |
Senko Group Holdings Co., Ltd. | 59,300 | 530,323 |
Senshu Ikeda Holdings, Inc. | 116,900 | 178,630 |
Seven Bank Ltd. | 129,000 | 296,048 |
Sharp Corp. | 34,500 | 398,945 |
Shibaura Machine Co., Ltd. | 8,800 | 175,621 |
Security | Number of Shares | Value ($) |
Shibuya Corp. | 5,600 | 173,443 |
Shima Seiki Manufacturing Ltd. | 11,900 | 176,766 |
Shimachu Co., Ltd. | 18,500 | 977,857 |
Shindengen Electric Manufacturing Co., Ltd. | 6,800 | 129,591 |
Shinko Electric Industries Co., Ltd. | 21,700 | 378,575 |
Shinmaywa Industries Ltd. | 42,500 | 329,869 |
Shinsei Bank Ltd. | 33,400 | 401,853 |
Ship Healthcare Holdings, Inc. | 9,900 | 469,778 |
Shizuoka Gas Co., Ltd. | 38,100 | 335,055 |
SHO-BOND Holdings Co., Ltd. | 4,600 | 222,034 |
Shochiku Co., Ltd. | 1,250 | 144,729 |
Shoei Foods Corp. | 4,600 | 166,967 |
Showa Sangyo Co., Ltd. | 12,200 | 376,675 |
Siix Corp. | 24,900 | 295,063 |
Sinfonia Technology Co., Ltd. | 10,900 | 118,611 |
SKY Perfect JSAT Holdings, Inc. | 68,800 | 293,706 |
Skylark Holdings Co., Ltd. (b) | 46,500 | 663,218 |
Sohgo Security Services Co., Ltd. | 13,900 | 647,667 |
Sotetsu Holdings, Inc. | 17,600 | 434,341 |
Square Enix Holdings Co., Ltd. | 10,700 | 621,700 |
St. Marc Holdings Co., Ltd. | 7,900 | 112,600 |
Starts Corp., Inc. | 10,400 | 241,904 |
Sugi Holdings Co., Ltd. | 10,300 | 680,161 |
Sumco Corp. | 46,200 | 704,636 |
Sumitomo Bakelite Co., Ltd. | 12,600 | 356,616 |
Sumitomo Dainippon Pharma Co., Ltd. | 37,100 | 434,849 |
Sumitomo Mitsui Construction Co., Ltd. | 102,780 | 396,672 |
Sumitomo Osaka Cement Co., Ltd. | 18,400 | 559,609 |
Sumitomo Riko Co., Ltd. | 44,500 | 226,996 |
Sumitomo Seika Chemicals Co., Ltd. | 6,100 | 194,184 |
Sundrug Co., Ltd. | 22,900 | 850,318 |
Suruga Bank Ltd. | 116,100 | 379,152 |
Sushiro Global Holdings Ltd. | 12,200 | 331,187 |
Swcc Showa Holdings Co., Ltd. | 10,000 | 111,308 |
T-Gaia Corp. | 9,900 | 182,014 |
Tachi-S Co., Ltd. | 41,100 | 415,259 |
Tadano Ltd. | 59,300 | 453,858 |
Taihei Dengyo Kaisha Ltd. | 7,200 | 155,564 |
Taikisha Ltd. | 11,400 | 296,887 |
Taisho Pharmaceutical Holdings Co., Ltd. | 8,900 | 535,498 |
Taiyo Holdings Co., Ltd. | 3,200 | 167,529 |
Taiyo Yuden Co., Ltd. | 27,800 | 1,028,236 |
Takamatsu Construction Group Co., Ltd. | 7,400 | 151,765 |
Takara Holdings, Inc. | 54,400 | 548,367 |
Takara Standard Co., Ltd. | 22,700 | 297,705 |
Takasago Thermal Engineering Co., Ltd. | 24,000 | 318,178 |
Takeuchi Manufacturing Co., Ltd. | 13,300 | 289,846 |
Takuma Co., Ltd. | 19,500 | 298,592 |
Tamron Co., Ltd. | 7,300 | 108,959 |
Tamura Corp. | 36,000 | 170,893 |
TBS Holdings, Inc. | 13,000 | 200,752 |
TechnoPro Holdings, Inc. | 3,600 | 223,911 |
Tekken Corp. | 5,800 | 108,413 |
The 77 Bank Ltd. | 17,000 | 237,738 |
The Awa Bank Ltd. | 8,100 | 194,853 |
The Bank of Kyoto Ltd. | 9,200 | 406,313 |
The Chiba Bank Ltd. | 136,300 | 704,029 |
The Chugoku Bank Ltd. | 37,800 | 327,468 |
The Gunma Bank Ltd. | 134,600 | 427,024 |
The Hachijuni Bank Ltd. | 113,900 | 420,641 |
The Hokkoku Bank Ltd. | 6,500 | 184,969 |
The Hyakugo Bank Ltd. | 49,500 | 151,585 |
Security | Number of Shares | Value ($) |
The Hyakujushi Bank Ltd. | 9,000 | 143,305 |
The Iyo Bank Ltd. | 63,600 | 399,148 |
The Japan Steel Works Ltd. | 25,000 | 534,459 |
The Japan Wool Textile Co., Ltd. | 23,500 | 228,282 |
The Juroku Bank Ltd. | 10,700 | 196,269 |
The Keiyo Bank Ltd. | 43,500 | 195,886 |
The Kiyo Bank Ltd. | 13,100 | 195,749 |
The Musashino Bank Ltd. | 12,700 | 188,295 |
The Nanto Bank Ltd. | 8,100 | 143,729 |
The Nisshin Oillio Group Ltd. | 13,400 | 385,182 |
The Ogaki Kyoritsu Bank Ltd. | 9,000 | 200,775 |
The Okinawa Electric Power Co., Inc. | 23,382 | 341,182 |
The Pack Corp. | 3,700 | 103,968 |
The San-in Godo Bank Ltd. | 43,600 | 219,433 |
The Shiga Bank Ltd. | 9,700 | 209,480 |
The Shizuoka Bank Ltd. | 101,600 | 683,336 |
The Sumitomo Warehouse Co., Ltd. | 22,300 | 260,842 |
THK Co., Ltd. | 29,200 | 775,111 |
Toa Corp. | 13,300 | 237,447 |
Toagosei Co., Ltd. | 50,600 | 535,731 |
Tobishima Corp. | 11,000 | 111,751 |
Toda Corp. | 92,400 | 527,813 |
Toei Co., Ltd. | 1,200 | 177,070 |
Toho Co., Ltd. | 17,900 | 708,855 |
Toho Zinc Co., Ltd. * | 17,000 | 333,222 |
Tokai Carbon Co., Ltd. | 42,400 | 481,289 |
TOKAI Holdings Corp. | 38,600 | 382,354 |
Tokai Rika Co., Ltd. | 43,800 | 686,383 |
Tokai Tokyo Financial Holdings, Inc. | 100,000 | 257,471 |
Token Corp. | 4,450 | 334,886 |
Tokuyama Corp. | 27,900 | 621,798 |
Tokyo Century Corp. | 7,700 | 377,519 |
Tokyo Dome Corp. | 30,700 | 245,553 |
Tokyo Ohka Kogyo Co., Ltd. | 7,500 | 444,073 |
Tokyo Seimitsu Co., Ltd. | 9,500 | 320,544 |
Tokyo Steel Manufacturing Co., Ltd. | 41,200 | 262,187 |
Tokyo Tatemono Co., Ltd. | 47,000 | 540,556 |
Tokyu Construction Co., Ltd. | 50,300 | 221,352 |
TOMONY Holdings, Inc. | 42,500 | 128,107 |
Tomy Co., Ltd. | 36,200 | 316,712 |
Topcon Corp. | 35,000 | 348,933 |
Toppan Forms Co., Ltd. | 27,000 | 259,057 |
Topre Corp. | 33,800 | 339,750 |
Topy Industries Ltd. * | 25,300 | 264,570 |
Toshiba TEC Corp. | 8,100 | 324,305 |
Totetsu Kogyo Co., Ltd. | 10,700 | 278,056 |
Towa Pharmaceutical Co., Ltd. | 7,000 | 129,645 |
Toyo Construction Co., Ltd. | 43,400 | 166,158 |
Toyo Ink SC Holdings Co., Ltd. | 24,800 | 460,790 |
Toyo Tire Corp. | 48,100 | 713,549 |
Toyobo Co., Ltd. | 50,600 | 674,622 |
Toyota Boshoku Corp. | 52,200 | 758,248 |
TPR Co., Ltd. | 25,600 | 306,546 |
Trancom Co., Ltd. | 2,700 | 194,005 |
Transcosmos, Inc. | 10,300 | 280,984 |
Trend Micro, Inc. | 12,300 | 688,986 |
Trusco Nakayama Corp. | 13,900 | 358,464 |
TSI Holdings Co., Ltd. | 73,800 | 173,207 |
Tsubaki Nakashima Co., Ltd. | 17,300 | 127,955 |
Tsubakimoto Chain Co. | 21,000 | 466,300 |
Tsukishima Kikai Co., Ltd. | 11,200 | 133,488 |
Tsumura & Co. | 14,800 | 434,400 |
TV Asahi Holdings Corp. | 11,600 | 175,257 |
UACJ Corp. | 24,530 | 388,581 |
Uchida Yoko Co., Ltd. | 2,300 | 113,530 |
Ulvac, Inc. | 14,200 | 520,138 |
Unipres Corp. | 62,600 | 484,911 |
United Arrows Ltd. | 16,300 | 221,344 |
Security | Number of Shares | Value ($) |
United Super Markets Holdings, Inc. | 54,700 | 588,421 |
Ushio, Inc. | 35,000 | 390,973 |
USS Co., Ltd. | 23,100 | 422,512 |
Valor Holdings Co., Ltd. | 30,400 | 748,903 |
Vital KSK Holdings, Inc. | 31,700 | 285,263 |
VT Holdings Co., Ltd. | 55,000 | 193,124 |
Wacoal Holdings Corp. | 24,700 | 447,732 |
Wacom Co., Ltd. | 36,000 | 236,664 |
Warabeya Nichiyo Holdings Co., Ltd. | 18,400 | 263,207 |
Welcia Holdings Co., Ltd. | 14,100 | 552,175 |
World Co., Ltd. | 11,100 | 140,931 |
Xebio Holdings Co., Ltd. | 27,700 | 180,891 |
Yamabiko Corp. | 20,500 | 257,191 |
Yamaguchi Financial Group, Inc. | 69,400 | 451,445 |
Yamato Kogyo Co., Ltd. | 13,000 | 312,197 |
Yamazen Corp. | 49,900 | 489,033 |
Yaoko Co., Ltd. | 5,500 | 389,301 |
Yellow Hat Ltd. | 13,600 | 223,207 |
Yodogawa Steel Works Ltd. | 20,500 | 384,817 |
Yokogawa Bridge Holdings Corp. | 10,400 | 184,085 |
Yokohama Reito Co., Ltd. | 21,000 | 169,838 |
Yondoshi Holdings, Inc. | 7,600 | 129,434 |
Yoshinoya Holdings Co., Ltd. | 15,300 | 281,237 |
Yuasa Trading Co., Ltd. | 13,200 | 376,053 |
Zenkoku Hosho Co., Ltd. | 4,600 | 181,414 |
Zensho Holdings Co., Ltd. | 18,500 | 432,328 |
Zeon Corp. | 56,600 | 688,620 |
ZERIA Pharmaceutical Co., Ltd. | 7,900 | 140,236 |
Zojirushi Corp. | 10,500 | 187,586 |
ZOZO, Inc. | 8,400 | 213,090 |
198,552,208 | ||
Luxembourg 0.0% | ||
Espirito Santo Financial Group S.A. *(a) | 69,773 | — |
Netherlands 1.6% | ||
Accell Group N.V. * | 7,609 | 205,474 |
Adyen N.V. * | 102 | 171,436 |
AMG Advanced Metallurgical Group N.V. | 9,220 | 165,968 |
Arcadis N.V. * | 28,206 | 655,422 |
ASM International N.V. | 4,241 | 605,745 |
BE Semiconductor Industries N.V. | 8,845 | 356,398 |
Brunel International N.V. * | 20,214 | 143,372 |
Corbion N.V. | 13,232 | 600,966 |
Eurocommercial Properties N.V. CVA | 16,522 | 180,355 |
Flow Traders | 3,597 | 117,901 |
ForFarmers N.V. | 33,361 | 195,435 |
Fugro N.V. CVA *(b) | 74,680 | 285,000 |
GrandVision N.V. * | 7,268 | 201,883 |
IMCD N.V. | 5,144 | 595,372 |
Intertrust N.V. | 16,139 | 250,234 |
Koninklijke BAM Groep N.V * | 248,727 | 308,236 |
Koninklijke Vopak N.V. | 11,202 | 582,261 |
OCI N.V. * | 17,895 | 214,235 |
PostNL N.V. * | 257,025 | 852,481 |
Prosus N.V. * | 2,950 | 294,516 |
SBM Offshore N.V. | 45,060 | 728,178 |
Sligro Food Group N.V. * | 27,108 | 387,817 |
TKH Group N.V. | 11,688 | 376,339 |
TomTom N.V. * | 17,851 | 119,939 |
Van Lanschot Kempen N.V. CVA | 7,776 | 155,639 |
Wereldhave N.V. (b) | 23,448 | 217,893 |
8,968,495 | ||
Security | Number of Shares | Value ($) |
New Zealand 1.0% | ||
Air New Zealand Ltd. * | 509,334 | 477,666 |
Auckland International Airport Ltd. * | 77,365 | 357,881 |
Chorus Ltd. | 98,574 | 548,147 |
EBOS Group Ltd. | 30,566 | 520,277 |
Fisher & Paykel Healthcare Corp., Ltd. | 24,203 | 559,921 |
Genesis Energy Ltd. | 165,097 | 338,369 |
Infratil Ltd. | 98,469 | 352,616 |
Kiwi Property Group Ltd. | 251,081 | 204,110 |
Mercury NZ Ltd. | 125,555 | 443,882 |
Meridian Energy Ltd. | 192,843 | 675,881 |
Ryman Healthcare Ltd. | 12,641 | 116,981 |
SKY Network Television Ltd. * | 3,189,644 | 313,856 |
SKYCITY Entertainment Group Ltd. | 222,746 | 412,154 |
Z Energy Ltd. | 236,853 | 442,621 |
5,764,362 | ||
Norway 1.4% | ||
Aker A.S.A., A Shares | 10,193 | 410,371 |
Aker BP A.S.A. | 16,464 | 256,399 |
Aker Solutions A.S.A. * | 293,491 | 287,179 |
Austevoll Seafood A.S.A. | 37,526 | 255,608 |
Bakkafrost P/F * | 4,439 | 253,940 |
Bonheur A.S.A. | 8,662 | 183,251 |
BW Energy Ltd. * | 2,956 | 4,582 |
BW LPG Ltd. | 45,469 | 199,064 |
BW Offshore Ltd. | 41,218 | 99,190 |
DNO A.S.A. *(b) | 244,223 | 101,566 |
Elkem A.S.A. | 119,604 | 254,384 |
Entra A.S.A. | 17,146 | 224,150 |
Europris A.S.A. | 47,758 | 248,238 |
Frontline Ltd/Bermuda | 14,923 | 82,820 |
Gjensidige Forsikring A.S.A. | 28,094 | 535,331 |
Kongsberg Gruppen A.S.A. | 15,508 | 251,995 |
Leroy Seafood Group A.S.A. | 62,391 | 293,063 |
Norwegian Finans Holding A.S.A. * | 16,079 | 115,867 |
PGS A.S.A. * | 732,487 | 182,158 |
Salmar A.S.A. * | 8,343 | 423,661 |
Schibsted A.S.A., B Shares * | 7,753 | 279,750 |
Schibsted A.S.A., Class A * | 6,603 | 269,917 |
Sparebank 1 Nord Norge | 35,693 | 238,919 |
SpareBank 1 SMN | 34,264 | 295,578 |
SpareBank 1 SR Bank A.S.A. * | 36,420 | 290,448 |
Storebrand A.S.A. * | 85,462 | 451,013 |
TGS NOPEC Geophysical Co., A.S.A. | 32,362 | 298,558 |
Tomra Systems A.S.A. | 7,201 | 290,824 |
Veidekke A.S.A. * | 36,375 | 419,219 |
XXL A.S.A. * | 123,357 | 281,939 |
7,778,982 | ||
Poland 0.9% | ||
Alior Bank S.A. * | 62,190 | 178,458 |
Asseco Poland S.A. | 34,682 | 562,099 |
Bank Handlowy w Warszawie S.A. * | 13,167 | 91,987 |
Bank Millennium S.A. * | 179,924 | 98,406 |
CCC S.A. * | 9,172 | 89,927 |
Cyfrowy Polsat S.A. | 71,029 | 443,356 |
Enea S.A. * | 284,329 | 325,179 |
Energa S.A. * | 186,612 | 391,505 |
Eurocash S.A. * | 49,947 | 146,737 |
Grupa Azoty S.A. * | 49,089 | 254,687 |
Jastrzebska Spolka Weglowa S.A. * | 70,340 | 270,924 |
LPP S.A. * | 126 | 167,119 |
mBank S.A. * | 2,792 | 81,651 |
Orange Polska S.A. * | 371,676 | 571,326 |
Security | Number of Shares | Value ($) |
PLAY Communications S.A. | 51,097 | 501,318 |
Santander Bank Polska S.A. * | 6,624 | 206,193 |
Tauron Polska Energia S.A. * | 2,046,340 | 899,383 |
5,280,255 | ||
Portugal 0.3% | ||
Banco Espirito Santo S.A. *(a) | 320,558 | — |
CTT-Correios de Portugal S.A. * | 96,515 | 236,146 |
EDP Renovaveis S.A. | 14,341 | 272,632 |
Mota-Engil SGPS, S.A. *(b) | 108,858 | 139,182 |
NOS SGPS, S.A. | 88,731 | 304,948 |
Redes Energeticas Nacionais SGPS, S.A. | 105,825 | 277,958 |
Sonae SGPS, S.A. | 608,374 | 358,594 |
The Navigator Co., S.A. * | 136,135 | 299,947 |
1,889,407 | ||
Republic of Korea 7.0% | ||
AK Holdings, Inc. | 8,951 | 135,780 |
AMOREPACIFIC Group | 10,173 | 393,509 |
Asiana Airlines, Inc. * | 79,875 | 254,797 |
BGF retail Co., Ltd. | 2,275 | 236,574 |
Celltrion, Inc. * | 1,739 | 371,318 |
Cheil Worldwide, Inc. | 20,638 | 381,936 |
CJ ENM Co., Ltd. | 3,133 | 366,056 |
CJ Logistics Corp. * | 2,395 | 338,020 |
Com2uS Corp. | 2,100 | 207,109 |
Daesang Corp. | 13,517 | 287,466 |
Daewoo Engineering & Construction Co., Ltd. * | 145,168 | 386,272 |
Daewoo Shipbuilding & Marine Engineering Co., Ltd. * | 26,054 | 494,922 |
Daou Technology Inc. | 7,256 | 120,491 |
DB HiTek Co., Ltd. | 8,767 | 248,916 |
DGB Financial Group, Inc. | 110,270 | 605,547 |
Dongkuk Steel Mill Co., Ltd. * | 131,037 | 702,928 |
Doosan Bobcat, Inc. | 11,364 | 290,399 |
Doosan Co., Ltd. | 8,867 | 366,659 |
Doosan Infracore Co., Ltd. * | 124,413 | 920,521 |
Fila Holdings Corp. | 6,838 | 233,325 |
Green Cross Corp. | 1,250 | 332,119 |
Green Cross Holdings Corp. | 8,101 | 161,177 |
GS Engineering & Construction Corp. | 35,764 | 848,583 |
GS Home Shopping, Inc. | 1,819 | 223,205 |
GS Retail Co., Ltd. | 13,275 | 376,969 |
Handsome Co., Ltd. | 4,890 | 120,902 |
Hanjin Transportation Co., Ltd. | 7,288 | 304,236 |
Hanon Systems | 46,180 | 457,928 |
Hansol Paper Co., Ltd. | 16,110 | 194,387 |
Hanssem Co., Ltd. | 2,974 | 248,644 |
Hanwha Aerospace Co., Ltd. * | 14,388 | 321,372 |
Hanwha Life Insurance Co., Ltd. | 512,471 | 698,675 |
Harim Holdings Co., Ltd. | 41,273 | 237,129 |
HDC Holdings Co., Ltd. | 23,630 | 208,981 |
Hite Jinro Co., Ltd. | 7,479 | 222,087 |
HMM Co., Ltd. * | 102,895 | 819,937 |
Hotel Shilla Co., Ltd. | 6,164 | 406,328 |
Huchems Fine Chemical Corp. | 10,413 | 211,084 |
Hyosung Corp. | 4,058 | 266,134 |
Hyundai Construction Equipment Co., Ltd. * | 21,148 | 467,870 |
Hyundai Corp. | 20,006 | 244,748 |
Hyundai Department Store Co., Ltd. | 8,575 | 450,365 |
Hyundai Electric & Energy System Co., Ltd. * | 18,344 | 244,248 |
Security | Number of Shares | Value ($) |
Hyundai Elevator Co., Ltd. | 5,556 | 183,181 |
Hyundai Greenfood Co., Ltd. | 38,092 | 245,014 |
Hyundai Home Shopping Network Corp. | 3,022 | 188,957 |
Hyundai Mipo Dockyard Co., Ltd. | 6,528 | 162,451 |
Hyundai Rotem Co., Ltd. * | 13,814 | 182,536 |
Hyundai Wia Corp. | 23,565 | 875,088 |
iMarketKorea, Inc. | 30,826 | 232,083 |
IS Dongseo Co., Ltd. | 7,450 | 251,693 |
JB Financial Group Co., Ltd. | 78,601 | 355,109 |
Kakao Corp. | 1,373 | 400,354 |
Kangwon Land, Inc. | 26,931 | 502,516 |
KCC Corp. | 3,202 | 434,539 |
KEPCO Plant Service & Engineering Co., Ltd. | 9,009 | 218,906 |
Kolon Corp. | 12,007 | 215,779 |
Kolon Industries, Inc. | 19,024 | 598,680 |
Korea Aerospace Industries Ltd. | 14,578 | 282,287 |
Korea Electric Terminal Co., Ltd. | 4,256 | 173,327 |
Korea Investment Holdings Co., Ltd. | 6,984 | 426,596 |
Korea Petrochemical Ind Co., Ltd. | 3,386 | 582,091 |
Korean Reinsurance Co. | 60,282 | 395,422 |
Kumho Petrochemical Co., Ltd. | 8,672 | 1,025,794 |
Kumho Tire Co., Inc. * | 76,876 | 241,552 |
LF Corp. | 23,812 | 308,433 |
LG Hausys Ltd. | 8,008 | 468,531 |
LG HelloVision Co., Ltd. | 40,629 | 136,680 |
LG Innotek Co., Ltd. | 6,312 | 855,696 |
LG International Corp. | 55,284 | 757,978 |
Lotte Chilsung Beverage Co., Ltd. | 1,758 | 133,860 |
LOTTE Fine Chemical Co., Ltd. | 7,834 | 336,488 |
LOTTE Himart Co., Ltd. | 20,947 | 569,101 |
LS Corp. | 21,998 | 1,007,717 |
LS Electric Co., Ltd. | 7,788 | 341,970 |
Mando Corp. | 25,128 | 798,682 |
Meritz Financial Group, Inc. | 22,146 | 184,421 |
Meritz Fire & Marine Insurance Co., Ltd. | 43,455 | 533,154 |
Meritz Securities Co., Ltd. | 76,544 | 223,449 |
Mirae Asset Daewoo Co., Ltd. | 53,392 | 397,792 |
NCSoft Corp. | 969 | 665,784 |
Nexen Tire Corp. | 34,614 | 160,355 |
NH Investment & Securities Co., Ltd. | 26,333 | 223,100 |
NongShim Co., Ltd. | 1,386 | 352,761 |
OCI Co., Ltd. * | 13,788 | 759,146 |
Orion Corp/Republic of Korea | 3,514 | 336,707 |
Ottogi Corp. | 400 | 187,520 |
Pan Ocean Co., Ltd. * | 74,709 | 237,868 |
Partron Co., Ltd. | 20,347 | 175,159 |
Poongsan Corp. | 23,485 | 510,845 |
S&T Motiv Co., Ltd. | 3,055 | 136,543 |
S-1 Corp. | 4,929 | 354,245 |
Samsung Card Co., Ltd. | 13,400 | 347,764 |
Samsung Engineering Co., Ltd. * | 30,075 | 314,476 |
Samsung Securities Co., Ltd. | 11,119 | 316,728 |
Seoul Semiconductor Co., Ltd. | 15,734 | 243,457 |
Seoyon E-Hwa Co., Ltd. | 49,509 | 193,669 |
SFA Engineering Corp. | 4,293 | 138,546 |
Shinsegae, Inc. | 2,558 | 471,818 |
SK Chemicals Co., Ltd. | 2,512 | 770,798 |
SK Gas Ltd. | 4,667 | 434,768 |
SKC Co., Ltd. | 6,048 | 394,680 |
Sungwoo Hitech Co., Ltd. | 115,463 | 362,946 |
Taekwang Industrial Co., Ltd. | 631 | 397,221 |
Taeyoung Engineering & Construction Co., Ltd. | 6,513 | 57,704 |
TY Holdings Co.,Ltd. * | 6,541 | 117,308 |
WONIK IPS Co., Ltd. * | 6,744 | 192,399 |
Security | Number of Shares | Value ($) |
Youngone Corp. | 12,948 | 325,680 |
Yuhan Corp. | 6,584 | 346,484 |
40,164,039 | ||
Singapore 1.5% | ||
Ascendas Real Estate Investment Trust | 231,650 | 488,809 |
CapitaLand Mall Trust | 338,901 | 429,577 |
City Developments Ltd. | 106,400 | 494,108 |
Genting Singapore Ltd. | 1,219,600 | 575,914 |
Golden Agri-Resources Ltd. | 6,707,900 | 693,458 |
Keppel Infrastructure Trust | 450,800 | 180,157 |
Mapletree Commercial Trust | 129,892 | 163,778 |
Mapletree Industrial Trust | 101,444 | 226,083 |
Mapletree Logistics Trust | 148,116 | 211,583 |
Mapletree North Asia Commercial Trust | 266,562 | 170,053 |
SATS Ltd. | 150,249 | 327,668 |
Sembcorp Industries Ltd. | 615,500 | 712,415 |
Sembcorp Marine Ltd. * | 3,897,560 | 342,695 |
Singapore Exchange Ltd. | 74,000 | 469,334 |
Singapore Post Ltd. | 488,100 | 237,978 |
Singapore Press Holdings Ltd. | 639,700 | 463,402 |
Singapore Technologies Engineering Ltd. | 272,400 | 696,341 |
StarHub Ltd. | 304,400 | 260,721 |
Suntec Real Estate Investment Trust | 177,600 | 174,413 |
UOL Group Ltd. | 72,601 | 330,929 |
Venture Corp., Ltd. | 66,500 | 937,435 |
8,586,851 | ||
Spain 1.3% | ||
Abengoa S.A., B Shares *(a) | 66,135,341 | 358,164 |
Almirall S.A. | 13,488 | 144,267 |
Applus Services S.A. * | 45,487 | 356,549 |
Caja de Ahorros del Mediterraneo *(a) | 5,382 | — |
Cellnex Telecom S.A. | 4,864 | 312,225 |
Cia de Distribucion Integral Logista Holdings S.A. | 15,148 | 255,750 |
Cie Automotive S.A. | 12,412 | 242,909 |
Construcciones y Auxiliar de Ferrocarriles S.A. * | 4,546 | 144,010 |
Distribuidora Internacional de Alimentacion S.A. * | 2,016,305 | 264,652 |
Ebro Foods S.A. | 23,352 | 522,725 |
Ence Energia y Celulosa S.A. *(b) | 47,444 | 105,973 |
Ercros S.A. | 47,066 | 97,679 |
Euskaltel S.A. | 20,658 | 196,565 |
FAES FARMA S.A. | 36,102 | 136,053 |
Gestamp Automocion S.A. | 118,522 | 362,439 |
Indra Sistemas S.A. * | 18,286 | 109,664 |
Inmobiliaria Colonial Socimi S.A. | 16,709 | 118,945 |
Liberbank S.A. * | 605,396 | 162,000 |
Mediaset Espana Comunicacion S.A. * | 116,710 | 390,187 |
Melia Hotels International S.A. * | 50,109 | 185,713 |
Merlin Properties Socimi S.A. | 26,893 | 181,018 |
Obrascon Huarte Lain S.A. *(b) | 321,544 | 216,253 |
Prosegur Cash S.A. | 141,872 | 109,758 |
Prosegur Cia de Seguridad S.A. | 144,947 | 332,010 |
Sacyr S.A. | 119,368 | 202,998 |
Siemens Gamesa Renewable Energy S.A. | 27,717 | 786,589 |
Tecnicas Reunidas S.A. * | 11,796 | 94,593 |
Unicaja Banco S.A. * | 676,553 | 433,213 |
Security | Number of Shares | Value ($) |
Viscofan S.A. | 7,460 | 503,486 |
Zardoya Otis S.A. | 29,196 | 178,357 |
7,504,744 | ||
Sweden 3.9% | ||
AAK AB * | 24,999 | 486,535 |
AddTech AB, B Shares | 21,992 | 243,035 |
AF POYRY AB * | 14,647 | 334,691 |
Arjo AB, B Shares | 44,788 | 318,354 |
Attendo AB * | 38,446 | 176,279 |
Axfood AB | 27,121 | 630,378 |
Beijer Ref AB | 3,349 | 92,723 |
Betsson AB * | 44,250 | 337,163 |
Bilia AB, A Shares * | 34,541 | 459,450 |
BillerudKorsnas AB | 60,629 | 947,090 |
Bonava AB, B Shares * | 43,307 | 336,550 |
Bravida Holding AB | 37,761 | 435,815 |
Castellum AB | 24,355 | 507,087 |
Clas Ohlson AB, B Shares * | 18,765 | 166,038 |
Cloetta AB, B Shares * | 60,360 | 141,871 |
Concentric AB * | 7,138 | 118,239 |
Coor Service Management Holding AB * | 27,145 | 174,417 |
Dometic Group AB * | 55,991 | 605,233 |
Elekta AB, B Shares | 34,880 | 407,956 |
Fabege AB | 16,836 | 212,586 |
Fastighets AB Balder, B Shares * | 2,861 | 134,649 |
Getinge AB, B Shares | 38,496 | 753,751 |
Granges AB * | 29,939 | 270,054 |
Hexpol AB * | 62,497 | 550,434 |
Holmen AB, B Shares | 16,859 | 638,441 |
Industrivarden AB, A Shares * | 22,822 | 613,084 |
Industrivarden AB, C Shares * | 17,728 | 452,669 |
Indutrade AB * | 9,395 | 475,659 |
Intrum AB (b) | 15,132 | 369,780 |
Inwido AB * | 22,281 | 235,776 |
JM AB | 25,154 | 726,444 |
Kinnevik AB, B Shares | 29,562 | 1,210,532 |
Kungsleden AB | 23,569 | 200,002 |
LE Lundbergfortagen AB, B Shares * | 10,544 | 473,910 |
Lifco AB, B Shares | 3,143 | 230,073 |
Lindab International AB | 18,594 | 287,046 |
Loomis AB * | 23,364 | 521,715 |
Lundin Energy AB | 13,472 | 257,542 |
Mekonomen AB * | 19,951 | 193,474 |
Modern Times Group MTG AB, B Shares * | 14,254 | 189,842 |
NCC AB, B Shares | 34,718 | 553,315 |
Nibe Industrier AB, B Shares * | 18,791 | 452,465 |
Nobia AB * | 62,725 | 378,069 |
Nolato AB, B Shares * | 2,466 | 205,112 |
Nordic Entertainment Group AB, B Shares * | 7,718 | 275,516 |
Pandox AB * | 13,716 | 136,934 |
Peab AB * | 79,585 | 736,559 |
Ratos AB, B Shares | 149,247 | 543,757 |
Resurs Holding AB | 26,169 | 119,633 |
Saab AB, B Shares * | 19,644 | 450,646 |
SAS AB *(b) | 1,122,753 | 123,399 |
Scandic Hotels Group AB * | 63,809 | 161,868 |
Svenska Cellulosa AB, S.C.A., B Shares * | 73,856 | 999,014 |
Sweco AB, B Shares | 6,554 | 329,798 |
Swedish Orphan Biovitrum AB * | 5,864 | 101,131 |
Thule Group AB * | 12,350 | 404,074 |
Security | Number of Shares | Value ($) |
Wallenstam AB, B Shares | 12,385 | 164,176 |
Wihlborgs Fastigheter AB | 11,330 | 204,217 |
22,256,050 | ||
Switzerland 3.4% | ||
Allreal Holding AG | 2,053 | 434,824 |
ALSO Holding AG * | 1,161 | 271,635 |
ams AG * | 15,540 | 332,737 |
Arbonia AG * | 16,732 | 185,770 |
Aryzta AG * | 891,611 | 447,523 |
Autoneum Holding AG * | 2,638 | 326,575 |
Banque Cantonale Vaudoise | 3,213 | 311,340 |
Barry Callebaut AG | 364 | 751,529 |
Belimo Holding AG | 34 | 252,848 |
BKW AG | 3,699 | 367,439 |
Bobst Group S.A. | 2,607 | 125,437 |
Bucher Industries AG | 1,669 | 643,436 |
Burckhardt Compression Holding AG | 691 | 173,007 |
Cembra Money Bank AG | 3,654 | 405,973 |
Conzzeta AG | 282 | 284,250 |
Daetwyler Holding AG | 1,301 | 291,059 |
dormakaba Holding AG | 484 | 222,540 |
Dufry AG *(b) | 17,991 | 679,357 |
Emmi AG | 388 | 366,505 |
EMS-Chemie Holding AG | 712 | 626,260 |
Flughafen Zuerich AG * | 3,249 | 438,463 |
Forbo Holding AG | 175 | 267,941 |
Galenica AG | 10,404 | 656,096 |
GAM Holding AG * | 198,624 | 321,014 |
Helvetia Holding AG | 6,849 | 537,052 |
Huber & Suhner AG | 4,035 | 290,984 |
Implenia AG | 8,268 | 165,833 |
Ina Invest Holding AG * | 1,821 | 33,840 |
Inficon Holding AG | 215 | 157,864 |
Komax Holding AG * | 842 | 152,508 |
Landis+Gyr Group AG * | 5,762 | 321,804 |
Logitech International S.A. | 13,628 | 1,146,471 |
Mobimo Holding AG * | 842 | 243,325 |
OC Oerlikon Corp. AG | 54,606 | 380,106 |
Partners Group Holding AG | 847 | 762,559 |
PSP Swiss Property AG | 2,544 | 307,636 |
Rieter Holding AG | 1,799 | 154,918 |
Schweiter Technologies AG | 231 | 315,494 |
SFS Group AG | 3,655 | 341,175 |
Siegfried Holding AG * | 454 | 287,431 |
SIG Combibloc Group AG * | 26,138 | 537,627 |
St. Galler Kantonalbank AG | 240 | 101,279 |
Stadler Rail AG *(b) | 3,447 | 137,105 |
Straumann Holding AG | 380 | 396,664 |
Sulzer AG | 5,836 | 427,150 |
Sunrise Communications Group AG * | 8,238 | 991,142 |
Tecan Group AG | 683 | 324,103 |
Temenos AG | 1,927 | 207,098 |
u-blox Holding AG * | 2,058 | 103,456 |
Valiant Holding AG | 2,436 | 195,440 |
Valora Holding AG * | 1,919 | 273,949 |
VAT Group AG | 1,797 | 337,144 |
Vetropack Holding AG * | 1,866 | 104,085 |
Vifor Pharma AG | 4,697 | 528,627 |
Vontobel Holding AG | 3,697 | 226,883 |
Zur Rose Group AG * | 631 | 175,573 |
19,849,883 | ||
United Kingdom 9.7% | ||
888 Holdings plc | 80,681 | 280,374 |
AA plc * | 1,123,114 | 331,510 |
Security | Number of Shares | Value ($) |
AG Barr plc * | 17,202 | 105,081 |
Airtel Africa plc | 257,044 | 205,477 |
Ascential plc * | 43,654 | 156,337 |
Ashmore Group plc | 42,267 | 195,550 |
Auto Trader Group plc | 37,010 | 278,257 |
Avast plc | 17,664 | 108,550 |
B&M European Value Retail S.A. | 140,792 | 883,598 |
Bank of Georgia Group plc * | 12,349 | 143,607 |
Beazley plc | 94,775 | 361,308 |
Biffa plc | 66,624 | 186,583 |
Big Yellow Group plc | 11,414 | 162,660 |
Bodycote plc | 62,404 | 526,243 |
Brewin Dolphin Holdings plc | 54,374 | 171,147 |
Britvic plc | 50,858 | 485,980 |
C&C Group plc * | 86,055 | 180,300 |
Capita plc * | 1,008,971 | 322,253 |
Card Factory plc | 489,072 | 203,820 |
Centamin plc | 254,538 | 409,360 |
Cineworld Group plc (b) | 427,627 | 158,159 |
Clarkson plc | 4,850 | 126,323 |
Close Brothers Group plc | 39,742 | 554,169 |
Coats Group plc * | 348,497 | 256,547 |
Computacenter plc | 19,673 | 581,079 |
ConvaTec Group plc | 194,151 | 454,494 |
Costain Group plc *(b) | 204,076 | 86,320 |
Countryside Properties plc | 78,450 | 342,641 |
Cranswick plc | 12,474 | 519,979 |
Crest Nicholson Holdings plc * | 152,787 | 434,485 |
Daily Mail & General Trust plc | 51,278 | 449,071 |
Dechra Pharmaceuticals plc | 4,197 | 189,863 |
Derwent London plc | 7,034 | 242,226 |
DFS Furniture plc | 106,211 | 283,448 |
Dignity plc * | 31,976 | 217,481 |
Diploma plc | 10,852 | 312,488 |
Domino's Pizza Group plc | 48,128 | 206,637 |
Dunelm Group plc | 17,007 | 287,519 |
Electrocomponents plc | 71,605 | 628,678 |
Elementis plc * | 301,763 | 290,855 |
Equiniti Group plc * | 90,352 | 120,872 |
Essentra plc * | 107,384 | 342,699 |
Ferrexpo plc | 149,238 | 368,291 |
Forterra plc * | 47,572 | 111,303 |
Frasers Group plc * | 85,355 | 414,071 |
Fresnillo plc | 33,945 | 511,976 |
Games Workshop Group plc | 2,009 | 270,083 |
Genus plc | 4,797 | 254,935 |
Grafton Group plc * | 85,219 | 740,850 |
Grainger plc | 60,338 | 218,594 |
Great Portland Estates plc | 29,527 | 220,745 |
Greencore Group plc | 207,569 | 243,009 |
Greggs plc * | 21,763 | 363,461 |
GVC Holdings plc * | 36,199 | 453,466 |
Halfords Group plc | 232,336 | 723,884 |
Halma plc | 22,259 | 683,075 |
Hammerson plc *(b) | 1,480,763 | 312,689 |
Hargreaves Lansdown plc | 15,482 | 271,803 |
Hastings Group Holdings plc | 49,125 | 158,736 |
Hikma Pharmaceuticals plc | 16,741 | 544,308 |
Hill & Smith Holdings plc | 14,724 | 228,988 |
Hiscox Ltd. * | 64,561 | 690,042 |
HomeServe plc | 24,240 | 347,393 |
Howden Joinery Group plc * | 102,625 | 847,256 |
Hunting plc | 91,965 | 166,201 |
Ibstock plc * | 113,889 | 236,853 |
IG Group Holdings plc | 79,130 | 780,895 |
Indivior plc * | 572,096 | 817,489 |
Intermediate Capital Group plc | 36,345 | 552,056 |
Intu Properties plc *(a)(b) | 4,024,942 | 27,782 |
Security | Number of Shares | Value ($) |
IWG plc * | 145,011 | 475,664 |
J.D. Wetherspoon plc * | 21,849 | 244,216 |
JD Sports Fashion plc | 37,307 | 358,911 |
John Laing Group plc | 69,538 | 253,776 |
Jupiter Fund Management plc | 163,330 | 491,321 |
Just Group plc * | 578,081 | 315,575 |
KAZ Minerals plc | 40,727 | 332,296 |
Keller Group plc | 55,462 | 365,003 |
Kier Group plc *(b) | 497,588 | 304,263 |
Lancashire Holdings Ltd. | 52,777 | 435,542 |
Man Group plc | 420,935 | 587,400 |
Mapeley Ltd. *(a) | 2,199 | — |
Marshalls plc * | 23,973 | 207,698 |
Marston's plc | 454,311 | 284,367 |
McCarthy & Stone plc * | 292,151 | 444,337 |
Mediclinic International plc | 109,492 | 400,926 |
Melrose Industries plc * | 420,204 | 651,849 |
Mitchells & Butlers plc * | 143,918 | 292,360 |
Moneysupermarket.com Group plc | 83,298 | 263,091 |
Morgan Advanced Materials plc * | 104,577 | 338,856 |
Morgan Sindall Group plc * | 18,615 | 265,978 |
National Express Group plc * | 230,466 | 447,085 |
Ocado Group plc * | 9,531 | 281,068 |
OneSavings Bank plc * | 50,555 | 201,661 |
Pagegroup plc * | 108,375 | 502,076 |
Paragon Banking Group plc | 56,297 | 216,019 |
PayPoint plc | 16,397 | 107,061 |
Petra Diamonds Ltd. *(b) | 5,541,159 | 108,978 |
Petrofac Ltd. * | 209,465 | 322,697 |
Petropavlovsk plc * | 1,131,377 | 391,869 |
Pets at Home Group plc | 141,556 | 710,892 |
Phoenix Group Holdings plc | 82,373 | 707,357 |
Playtech plc * | 155,171 | 684,208 |
Plus500 Ltd. | 31,180 | 597,555 |
Polymetal International plc | 36,911 | 784,525 |
Polypipe Group plc * | 34,459 | 205,176 |
Premier Oil plc *(b) | 1,161,790 | 171,200 |
Provident Financial plc * | 220,289 | 663,362 |
PZ Cussons plc | 65,116 | 195,461 |
QinetiQ Group plc | 128,816 | 394,539 |
Quilter plc | 161,655 | 256,653 |
Rank Group plc | 58,749 | 68,586 |
Rathbone Brothers plc | 7,132 | 134,248 |
Redde Northgate plc | 166,314 | 382,599 |
Redrow plc * | 66,615 | 359,163 |
Renishaw plc * | 3,815 | 276,784 |
Rhi Magnesita N.V. | 5,741 | 190,489 |
Rightmove plc * | 32,832 | 262,760 |
Rotork plc | 124,271 | 452,776 |
Safestore Holdings plc | 15,390 | 160,210 |
Saga plc * | 160,943 | 288,091 |
Savills plc * | 34,790 | 374,698 |
Schroders plc | 16,290 | 551,864 |
Segro plc | 43,244 | 505,293 |
Senior plc * | 453,913 | 322,248 |
Serco Group plc * | 186,845 | 312,290 |
SIG plc * | 1,104,385 | 343,520 |
Signature Aviation plc | 224,176 | 686,467 |
Softcat plc | 6,843 | 99,755 |
Spectris plc | 23,655 | 759,214 |
Speedy Hire plc | 202,244 | 138,180 |
Spirax-Sarco Engineering plc | 5,131 | 750,119 |
Spire Healthcare Group plc | 224,939 | 346,794 |
Spirent Communications plc | 84,402 | 316,865 |
SSP Group plc | 124,765 | 302,120 |
St. James's Place plc | 59,798 | 696,924 |
St. Modwen Properties plc | 41,934 | 180,107 |
Stagecoach Group plc | 470,332 | 231,612 |
Security | Number of Shares | Value ($) |
Sthree plc * | 49,766 | 158,601 |
Superdry plc | 121,829 | 284,215 |
Synthomer plc | 86,325 | 421,840 |
TalkTalk Telecom Group plc | 271,458 | 338,327 |
Ted Baker plc * | 87,426 | 115,865 |
Telecom Plus plc | 13,653 | 235,163 |
The Go-Ahead Group plc * | 37,588 | 285,184 |
The Restaurant Group plc * | 326,070 | 171,082 |
The Unite Group plc * | 13,659 | 147,404 |
TI Fluid Systems plc * | 98,622 | 245,308 |
TP ICAP plc | 77,232 | 191,248 |
Tullow Oil plc *(b) | 463,616 | 121,626 |
Tyman plc * | 80,415 | 278,154 |
UDG Healthcare plc | 42,246 | 397,071 |
Ultra Electronics Holdings plc | 13,086 | 319,284 |
Vesuvius plc | 102,145 | 528,353 |
Victrex plc | 15,468 | 369,612 |
Vistry Group plc * | 62,772 | 442,919 |
WH Smith plc | 32,464 | 419,657 |
William Hill plc * | 388,374 | 1,379,301 |
Wizz Air Holdings plc * | 4,187 | 173,336 |
Workspace Group plc | 11,571 | 92,500 |
56,216,959 | ||
Total Common Stock | ||
(Cost $519,972,497) | 572,014,002 | |
Preferred Stock 0.4% of net assets | ||
Germany 0.4% | ||
Draegerwerk AG & Co. KGaA | 6,115 | 491,333 |
Jungheinrich AG | 18,427 | 669,952 |
Sartorius AG | 803 | 339,894 |
Schaeffler AG | 52,006 | 316,682 |
Sixt SE | 4,427 | 209,605 |
Total Preferred Stock | ||
(Cost $1,579,320) | 2,027,466 | |
Rights 0.0% of net assets | ||
Italy 0.0% | ||
Banca Monte dei Paschi di Siena S.p.A. expires 11/21/20 *(a) | 186,214 | — |
Cattolica Assicurazioni SC expires 11/26/20 *(a) | 70,820 | — |
— | ||
Singapore 0.0% | ||
Mapletree Logistic Trust expires 12/11/20 *(a) | 2,814 | — |
Total Rights | ||
(Cost $—) | — | |
Security | Number of Shares | Value ($) |
Other Investment Company 1.5% of net assets | ||
United States 1.5% | ||
Securities Lending Collateral 1.5% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 8,614,376 | 8,614,376 |
Total Other Investment Company | ||
(Cost $8,614,376) | 8,614,376 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.1% of net assets | ||
Time Deposits 0.1% | ||
Australia & New Zealand Banking Group Ltd. | ||
Australian Dollar | ||
(0.02%), 11/02/20 (d)(e) | 35,821 | 25,178 |
BNP Paribas | ||
Euro | ||
(0.70%), 11/02/20 (d)(e) | 334,428 | 389,492 |
Brown Brothers Harriman | ||
Canadian Dollar | ||
0.01%, 11/02/20 (d) | 47,568 | 35,704 |
Danish Krone | ||
(0.65%), 11/02/20 (d)(e) | 71,658 | 11,210 |
Hong Kong Dollar | ||
0.04%, 11/02/20 (d) | 204,516 | 26,381 |
New Zealand Dollar | ||
0.05%, 11/02/20 (d) | 21,051 | 13,919 |
Norwegian Krone | ||
(0.10%), 11/02/20 (d)(e) | 112,789 | 11,814 |
Singapore Dollar | ||
0.01%, 11/02/20 (d) | 61,667 | 45,146 |
Swedish Krona | ||
(0.26%), 11/02/20 (d)(e) | 270,860 | 30,439 |
Swiss Franc | ||
(1.42%), 11/02/20 (d)(e) | 13,461 | 14,680 |
Citibank | ||
Pound Sterling | ||
0.01%, 11/02/20 (d) | 39,852 | 51,628 |
Sumitomo Mitsui Banking Corp. | ||
Japanese Yen | ||
(0.27%), 11/02/20 (d)(e) | 4,283,900 | 40,918 |
Total Short-Term Investments | ||
(Cost $696,509) | 696,509 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI EAFE Index, expires 12/18/20 | 27 | 2,408,265 | (138,487) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $7,928,976. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
(e) | Rate is negative due to the current daily overnight rate at the central bank of the denominated currency and therefore is non-income producing. |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
Security | Number of Shares | Value ($) |
Common Stock 94.9% of net assets | ||
Brazil 5.0% | ||
Ambev S.A. | 864,650 | 1,835,401 |
B3 S.A. - Brasil Bolsa Balcao | 71,133 | 632,864 |
Banco Bradesco S.A. | 307,028 | 972,246 |
Banco do Brasil S.A. | 429,415 | 2,230,164 |
Banco Santander Brasil S.A. | 117,700 | 657,427 |
BRF S.A. * | 203,318 | 594,581 |
CCR S.A. | 248,100 | 482,541 |
Centrais Eletricas Brasileiras S.A. | 76,816 | 415,811 |
Cia Brasileira de Distribuicao | 59,799 | 645,622 |
Cia Energetica de Minas Gerais | 37,377 | 75,692 |
Cielo S.A. | 719,534 | 422,595 |
Cogna Educacao | 532,700 | 398,275 |
Companhia de Saneamento Basico do Estado de Sao Paulo | 71,510 | 529,662 |
Embraer S.A. * | 464,151 | 487,775 |
IRB Brasil Resseguros S.A. | 312,011 | 333,873 |
Itau Unibanco Holding S.A. | 155,100 | 594,132 |
JBS S.A. | 389,800 | 1,321,310 |
Petrobras Distribuidora S.A. | 315,500 | 1,054,608 |
Petroleo Brasileiro S.A. | 860,558 | 2,849,555 |
Suzano S.A. * | 71,700 | 625,412 |
TIM S.A. | 243,247 | 502,353 |
Ultrapar Participacoes S.A. | 579,628 | 1,654,651 |
Vale S.A. | 763,797 | 8,060,006 |
27,376,556 | ||
Chile 0.9% | ||
Banco de Chile | 7,217,547 | 558,511 |
Cencosud S.A. | 880,222 | 1,225,638 |
Empresas Copec S.A. | 185,905 | 1,417,519 |
Enel Americas S.A. | 6,890,464 | 914,145 |
Falabella S.A. | 187,108 | 513,671 |
Latam Airlines Group S.A. * | 227,554 | 344,314 |
4,973,798 | ||
China 30.5% | ||
Agile Group Holdings Ltd. | 546,000 | 749,200 |
Agricultural Bank of China Ltd., A Shares | 2,012,600 | 947,491 |
Agricultural Bank of China Ltd., H Shares | 8,380,600 | 2,851,217 |
Alibaba Group Holding Ltd. ADR * | 25,767 | 7,850,947 |
Anhui Conch Cement Co., Ltd., A Shares | 26,000 | 198,103 |
Anhui Conch Cement Co., Ltd., H Shares | 153,000 | 957,090 |
BAIC Motor Corp., Ltd., H Shares | 1,440,000 | 532,557 |
Baidu, Inc. ADR * | 22,800 | 3,033,540 |
Bank of China Ltd., A Shares | 1,250,400 | 594,310 |
Bank of China Ltd., H Shares | 24,342,234 | 7,688,764 |
Bank of Communications Co., Ltd., A Shares | 701,100 | 474,665 |
Bank of Communications Co., Ltd., H Shares | 2,468,000 | 1,214,213 |
Security | Number of Shares | Value ($) |
China Cinda Asset Management Co., Ltd., H Shares | 3,804,000 | 713,615 |
China CITIC Bank Corp., Ltd., A Shares | 216,800 | 163,662 |
China CITIC Bank Corp., Ltd., H Shares | 3,370,000 | 1,371,614 |
China Communications Construction Co., Ltd., A Shares | 124,900 | 138,297 |
China Communications Construction Co., Ltd., H Shares | 1,950,322 | 1,021,229 |
China Construction Bank Corp., A Shares | 162,700 | 152,984 |
China Construction Bank Corp., H Shares | 26,762,960 | 18,442,705 |
China Everbright Bank Co., Ltd., A Shares | 658,500 | 385,906 |
China Everbright Bank Co., Ltd., H Shares | 854,000 | 295,954 |
China Evergrande Group (a) | 624,000 | 1,244,391 |
China Hongqiao Group Ltd. | 1,341,500 | 970,630 |
China Huarong Asset Management Co., Ltd., H Shares | 9,900,000 | 1,037,277 |
China Jinmao Holdings Group Ltd. | 944,000 | 478,280 |
China Life Insurance Co., Ltd., A Shares | 17,300 | 119,432 |
China Life Insurance Co., Ltd., H Shares | 553,000 | 1,206,605 |
China Mengniu Dairy Co., Ltd. * | 224,000 | 1,056,006 |
China Merchants Bank Co., Ltd., A Shares | 159,100 | 947,312 |
China Merchants Bank Co., Ltd., H Shares | 539,150 | 2,808,396 |
China Minsheng Banking Corp., Ltd., A Shares | 656,700 | 518,299 |
China Minsheng Banking Corp., Ltd., H Shares | 2,182,300 | 1,194,346 |
China Mobile Ltd. | 1,816,555 | 11,111,030 |
China National Building Material Co., Ltd., H Shares | 1,436,000 | 1,652,924 |
China Oriental Group Co., Ltd. | 2,246,000 | 508,388 |
China Overseas Land & Investment Ltd. | 820,000 | 2,059,668 |
China Pacific Insurance Group Co., Ltd., A Shares | 46,300 | 221,252 |
China Pacific Insurance Group Co., Ltd., H Shares | 332,800 | 1,041,485 |
China Petroleum & Chemical Corp., A Shares | 1,621,400 | 945,759 |
China Petroleum & Chemical Corp., H Shares | 22,614,400 | 8,830,266 |
China Railway Construction Corp., Ltd., A Shares | 283,800 | 353,950 |
China Railway Construction Corp., Ltd., H Shares | 926,500 | 627,617 |
China Railway Group Ltd., H Shares | 1,611,000 | 741,564 |
China Resources Land Ltd. | 439,000 | 1,795,363 |
China Resources Power Holdings Co., Ltd. | 1,150,000 | 1,196,943 |
China Shenhua Energy Co., Ltd., A Shares | 136,900 | 341,040 |
Security | Number of Shares | Value ($) |
China Shenhua Energy Co., Ltd., H Shares | 1,296,000 | 2,245,502 |
China State Construction Engineering Corp., Ltd., A Shares | 865,300 | 661,852 |
China Telecom Corp., Ltd., H Shares | 8,454,000 | 2,653,789 |
China Tower Corp., Ltd., H Shares | 3,874,000 | 606,260 |
China Unicom (Hong Kong) Ltd. | 3,725,056 | 2,296,085 |
China United Network Communications Ltd., A Shares | 647,800 | 462,517 |
China Vanke Co., Ltd., A Shares | 93,800 | 387,023 |
China Vanke Co., Ltd., H Shares | 249,600 | 774,749 |
CITIC Ltd. | 2,190,000 | 1,565,715 |
CNOOC Ltd. | 5,088,075 | 4,655,363 |
Country Garden Holdings Co., Ltd. | 1,178,114 | 1,455,985 |
CRRC Corp., Ltd., A Shares | 306,400 | 247,088 |
CRRC Corp., Ltd., H Shares | 1,020,000 | 395,639 |
Dongfeng Motor Group Co., Ltd., H Shares | 1,193,000 | 840,380 |
ENN Energy Holdings Ltd. | 68,100 | 861,880 |
Fosun International Ltd. | 616,500 | 744,444 |
GCL-Poly Energy Holdings Ltd. * | 19,706,000 | 904,941 |
Geely Automobile Holdings Ltd. | 580,000 | 1,191,816 |
Great Wall Motor Co., Ltd., A Shares | 37,900 | 134,706 |
Great Wall Motor Co., Ltd., H Shares | 827,800 | 1,340,266 |
Guangzhou R&F Properties Co., Ltd., H Shares | 566,800 | 720,788 |
Haier Electronics Group Co., Ltd. | 256,000 | 975,930 |
Hengan International Group Co., Ltd. | 100,000 | 697,555 |
Huaneng Power International, Inc., A Shares | 204,200 | 149,120 |
Huaneng Power International, Inc., H Shares | 2,352,000 | 878,632 |
Industrial & Commercial Bank of China Ltd., A Shares | 1,062,000 | 780,898 |
Industrial & Commercial Bank of China Ltd., H Shares | 19,248,172 | 10,930,345 |
Industrial Bank Co., Ltd., A Shares | 294,000 | 782,586 |
JD.com, Inc. ADR * | 30,953 | 2,523,289 |
Jiangxi Copper Co., Ltd., A Shares | 79,600 | 176,601 |
Jiangxi Copper Co., Ltd., H Shares | 907,000 | 1,083,128 |
Kingboard Holdings Ltd. | 349,000 | 1,182,080 |
Kunlun Energy Co., Ltd. | 1,086,000 | 703,080 |
Legend Holdings Corp., H Shares | 435,200 | 585,553 |
Longfor Group Holdings Ltd. | 176,000 | 964,323 |
NetEase, Inc. ADR | 18,295 | 1,587,823 |
PetroChina Co., Ltd., H Shares | 12,722,000 | 3,572,812 |
PICC Property & Casualty Co., Ltd., H Shares | 1,940,000 | 1,316,704 |
Ping An Insurance Group Co. of China Ltd., A Shares | 51,100 | 595,014 |
Ping An Insurance Group Co. of China Ltd., H Shares | 445,000 | 4,601,155 |
Postal Savings Bank of China Co., Ltd., H Shares | 1,228,000 | 602,657 |
SAIC Motor Corp., Ltd., A Shares | 215,700 | 747,155 |
Shanghai Pudong Development Bank Co., Ltd., A Shares | 460,000 | 636,692 |
Shimao Group Holdings Ltd. | 254,500 | 901,519 |
Sinopec Shanghai Petrochemical Co., Ltd., A Shares | 179,200 | 88,658 |
Sinopec Shanghai Petrochemical Co., Ltd., H Shares | 2,500,000 | 462,027 |
Sinopharm Group Co., Ltd., H Shares | 434,000 | 997,090 |
Sunac China Holdings Ltd. | 154,000 | 570,747 |
Tencent Holdings Ltd. | 120,900 | 9,237,438 |
Vipshop Holdings Ltd. ADR * | 44,382 | 949,775 |
Security | Number of Shares | Value ($) |
Weichai Power Co., Ltd., A Shares | 44,300 | 100,309 |
Weichai Power Co., Ltd., H Shares | 281,000 | 532,855 |
167,846,624 | ||
Colombia 0.2% | ||
Bancolombia S.A. | 70,996 | 449,417 |
Ecopetrol S.A. | 1,427,401 | 660,528 |
1,109,945 | ||
Czech Republic 0.2% | ||
CEZ A/S | 50,460 | 955,034 |
Egypt 0.1% | ||
Commercial International Bank Egypt S.A.E. GDR | 144,673 | 558,059 |
Greece 0.4% | ||
Alpha Bank AE * | 1,175,253 | 598,059 |
Hellenic Telecommunications Organization S.A. | 50,993 | 676,254 |
Motor Oil Hellas Corinth Refineries S.A. | 37,133 | 347,185 |
Piraeus Bank S.A. * | 415,599 | 319,696 |
1,941,194 | ||
Hungary 0.4% | ||
MOL Hungarian Oil & Gas plc * | 249,484 | 1,211,475 |
OTP Bank Nyrt * | 28,042 | 874,758 |
2,086,233 | ||
India 8.3% | ||
Axis Bank Ltd. * | 202,808 | 1,344,338 |
Bharat Petroleum Corp., Ltd. | 366,617 | 1,752,618 |
Bharti Airtel Ltd. | 153,280 | 896,233 |
Coal India Ltd. | 524,506 | 807,378 |
Grasim Industries Ltd. | 73,633 | 773,052 |
HCL Technologies Ltd. | 142,515 | 1,621,479 |
Hero MotoCorp Ltd. | 22,327 | 842,344 |
Hindalco Industries Ltd. | 464,363 | 1,071,459 |
Hindustan Petroleum Corp., Ltd. | 469,388 | 1,188,971 |
Housing Development Finance Corp., Ltd. | 81,685 | 2,119,173 |
Indian Oil Corp., Ltd. | 1,708,584 | 1,833,695 |
Infosys Ltd. | 439,668 | 6,299,186 |
ITC Ltd. | 334,556 | 747,642 |
JSW Steel Ltd. | 299,183 | 1,249,474 |
Larsen & Toubro Ltd. | 46,386 | 581,177 |
Mahindra & Mahindra Ltd. | 109,207 | 874,268 |
Maruti Suzuki India Ltd. | 13,842 | 1,300,093 |
NTPC Ltd. | 633,863 | 748,977 |
Oil & Natural Gas Corp., Ltd. | 2,159,019 | 1,890,249 |
Rajesh Exports Ltd. * | 116,677 | 726,935 |
Reliance Industries Ltd. | 247,245 | 6,854,809 |
State Bank of India * | 436,059 | 1,110,994 |
Sun Pharmaceutical Industries Ltd. | 117,970 | 740,881 |
Tata Consultancy Services Ltd. | 81,113 | 2,923,349 |
Tata Motors Ltd. * | 1,090,615 | 1,939,478 |
Tata Motors Ltd., Class A * | 440,721 | 329,587 |
Tata Steel Ltd. | 153,821 | 854,451 |
Security | Number of Shares | Value ($) |
Vedanta Ltd. | 1,078,371 | 1,394,908 |
Wipro Ltd. | 234,357 | 1,074,759 |
45,891,957 | ||
Indonesia 1.2% | ||
PT Astra International Tbk | 4,939,200 | 1,803,662 |
PT Bank Central Asia Tbk | 407,300 | 801,426 |
PT Bank Mandiri (Persero) Tbk | 2,711,200 | 1,056,096 |
PT Bank Rakyat Indonesia (Persero) Tbk | 6,010,300 | 1,360,563 |
PT Telekomunikasi Indonesia (Persero) Tbk | 9,700,800 | 1,717,622 |
6,739,369 | ||
Kuwait 0.6% | ||
Kuwait Finance House KSCP | 340,870 | 733,810 |
Mobile Telecommunications Co. KSC | 531,817 | 1,014,468 |
National Bank of Kuwait SAKP | 555,929 | 1,536,073 |
3,284,351 | ||
Malaysia 1.6% | ||
Axiata Group Berhad | 1,160,613 | 818,412 |
CIMB Group Holdings Berhad | 1,466,276 | 1,040,659 |
Genting Berhad | 895,800 | 638,580 |
Malayan Banking Berhad | 1,049,861 | 1,767,575 |
Petronas Chemicals Group Berhad | 536,500 | 755,940 |
Public Bank Berhad | 384,465 | 1,394,926 |
Tenaga Nasional Berhad | 1,002,900 | 2,302,050 |
8,718,142 | ||
Mexico 4.0% | ||
Alfa S.A.B. de C.V., Class A | 2,206,300 | 1,473,883 |
America Movil S.A.B. de C.V., Series L | 8,485,619 | 5,164,620 |
Cemex S.A.B. de C.V., Series CPO | 8,672,656 | 3,581,664 |
Fomento Economico Mexicano S.A.B. de C.V. | 404,015 | 2,165,451 |
Grupo Bimbo S.A.B. de C.V., Series A | 572,100 | 1,105,550 |
Grupo Financiero Banorte S.A.B. de C.V., Class O * | 548,100 | 2,441,857 |
Grupo Mexico S.A.B. de C.V., Series B | 779,436 | 2,213,942 |
Grupo Televisa S.A.B., Series CPO * | 636,217 | 804,738 |
Orbia Advance Corp. SAB de CV | 482,700 | 853,597 |
Wal-Mart de Mexico S.A.B. de C.V. | 903,937 | 2,184,041 |
21,989,343 | ||
Philippines 0.3% | ||
PLDT, Inc. (b) | 40,040 | 1,092,104 |
SM Investments Corp. (b) | 36,990 | 725,414 |
1,817,518 | ||
Qatar 0.5% | ||
Ooredoo QPSC | 436,537 | 792,228 |
Qatar National Bank QPSC | 394,992 | 1,917,739 |
2,709,967 | ||
Russia 8.3% | ||
Alrosa PJSC | 886,360 | 797,778 |
Gazprom PJSC - USD | 5,915,930 | 11,542,370 |
Gazprom PJSC | 282,200 | 549,832 |
Inter RAO UES PJSC | 15,955,001 | 1,023,293 |
Lukoil PJSC | 206,866 | 10,532,899 |
Security | Number of Shares | Value ($) |
Magnit PJSC | 43,263 | 2,570,389 |
MMC Norilsk Nickel PJSC | 6,863 | 1,629,454 |
Mobile TeleSystems PJSC | 344,842 | 1,349,960 |
NovaTek PJSC | 101,150 | 1,215,933 |
Novolipetsk Steel PJSC | 336,800 | 789,793 |
Rosneft Oil Co. PJSC | 578,190 | 2,555,298 |
ROSSETI PJSC | 29,062,000 | 533,213 |
Sberbank of Russia PJSC | 1,859,090 | 4,704,371 |
Severstal PAO | 71,490 | 977,632 |
Sistema PJSC FC | 3,247,500 | 1,032,536 |
Surgutneftegas PJSC | 2,278,905 | 945,196 |
Tatneft PJSC | 367,260 | 1,897,698 |
VTB Bank PJSC | 1,905,160,000 | 784,926 |
45,432,571 | ||
Saudi Arabia 2.1% | ||
Al Rajhi Bank | 87,967 | 1,543,404 |
National Commercial Bank | 102,585 | 1,065,104 |
Riyad Bank | 119,688 | 573,713 |
Samba Financial Group | 83,749 | 615,241 |
Saudi Arabian Oil Co. | 58,974 | 529,091 |
Saudi Basic Industries Corp. | 179,181 | 4,297,631 |
Saudi Electricity Co. | 158,889 | 801,566 |
Saudi Telecom Co. | 70,814 | 1,881,245 |
Yanbu National Petrochemical Co. | 34,890 | 534,165 |
11,841,160 | ||
South Africa 5.0% | ||
Absa Group Ltd. | 344,340 | 1,850,995 |
AngloGold Ashanti Ltd. | 44,804 | 1,032,528 |
Aspen Pharmacare Holdings Ltd. * | 90,636 | 590,224 |
Barloworld Ltd. | 198,484 | 697,364 |
Bid Corp., Ltd. | 79,546 | 1,095,176 |
FirstRand Ltd. | 669,696 | 1,554,583 |
Gold Fields Ltd. | 148,900 | 1,610,380 |
MTN Group Ltd. | 1,218,243 | 4,349,749 |
Naspers Ltd., N Shares | 5,682 | 1,109,282 |
Nedbank Group Ltd. | 180,064 | 1,065,187 |
Old Mutual Ltd | 1,095,238 | 635,329 |
Remgro Ltd. | 89,338 | 476,571 |
Sanlam Ltd. | 263,892 | 769,749 |
Sappi Ltd. * | 569,007 | 810,482 |
Sasol Ltd. * | 570,371 | 2,978,605 |
Shoprite Holdings Ltd. | 216,903 | 1,718,164 |
Standard Bank Group Ltd. | 393,612 | 2,573,786 |
The Bidvest Group Ltd. | 81,855 | 673,092 |
Vodacom Group Ltd. | 145,660 | 1,097,690 |
Woolworths Holdings Ltd. | 405,962 | 871,949 |
27,560,885 | ||
Taiwan 20.5% | ||
Acer, Inc. | 1,375,496 | 1,149,535 |
ASE Technology Holding Co., Ltd. | 937,000 | 2,103,157 |
Asustek Computer, Inc. | 356,041 | 3,024,963 |
AU Optronics Corp. * | 9,017,800 | 3,642,137 |
Catcher Technology Co., Ltd. | 177,000 | 1,118,908 |
Cathay Financial Holding Co., Ltd. | 1,164,599 | 1,564,911 |
Cheng Shin Rubber Industry Co., Ltd. | 590,000 | 745,240 |
China Steel Corp. | 3,239,198 | 2,301,003 |
Chunghwa Telecom Co., Ltd. | 607,906 | 2,280,675 |
Compal Electronics, Inc. | 3,624,305 | 2,361,229 |
CTBC Financial Holding Co., Ltd. | 2,350,201 | 1,484,175 |
Delta Electronics, Inc. | 329,590 | 2,192,900 |
Far Eastern New Century Corp. | 1,256,817 | 1,134,667 |
Security | Number of Shares | Value ($) |
Far EasTone Telecommunications Co., Ltd. | 310,622 | 651,900 |
First Financial Holding Co., Ltd. | 1,041,606 | 730,863 |
Formosa Chemicals & Fibre Corp. | 853,442 | 2,055,514 |
Formosa Petrochemical Corp. | 367,330 | 1,011,234 |
Formosa Plastics Corp. | 707,732 | 1,959,122 |
Foxconn Technology Co., Ltd. | 404,317 | 709,084 |
Fubon Financial Holding Co., Ltd. | 1,586,674 | 2,260,304 |
Hon Hai Precision Industry Co., Ltd. | 6,071,572 | 16,466,894 |
Innolux Corp. * | 11,618,357 | 4,032,599 |
Inventec Corp. | 1,553,639 | 1,229,675 |
Largan Precision Co., Ltd. | 6,050 | 642,503 |
Lite-On Technology Corp. | 664,167 | 1,081,873 |
MediaTek, Inc. | 160,338 | 3,811,276 |
Mega Financial Holding Co., Ltd. | 1,207,340 | 1,163,394 |
Nan Ya Plastics Corp. | 1,153,622 | 2,369,699 |
Pegatron Corp. | 1,372,264 | 2,957,267 |
Pou Chen Corp. | 1,033,267 | 912,981 |
President Chain Store Corp. | 74,000 | 667,913 |
Quanta Computer, Inc. | 818,500 | 2,065,289 |
Synnex Technology International Corp. | 669,850 | 995,525 |
Taiwan Cement Corp. | 781,452 | 1,109,017 |
Taiwan Mobile Co., Ltd. | 211,334 | 721,917 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,787,803 | 27,048,876 |
Uni-President Enterprises Corp. | 825,678 | 1,769,892 |
United Microelectronics Corp. | 3,521,965 | 3,785,234 |
Walsin Lihwa Corp. | 1,828,000 | 1,135,914 |
Wistron Corp. | 1,579,682 | 1,579,273 |
WPG Holdings Ltd. | 912,880 | 1,239,910 |
Yageo Corp. | 56,000 | 697,636 |
Yuanta Financial Holding Co., Ltd. | 1,205,840 | 749,705 |
112,715,783 | ||
Thailand 2.8% | ||
Advanced Info Service PCL NVDR | 150,575 | 832,889 |
Charoen Pokphand Foods PCL NVDR | 844,700 | 683,760 |
CP ALL PCL NVDR | 429,800 | 739,902 |
Kasikornbank PCL NVDR | 292,500 | 714,285 |
Krung Thai Bank PCL NVDR | 2,099,900 | 582,073 |
PTT Exploration & Production PCL NVDR | 329,800 | 833,332 |
PTT Global Chemical PCL NVDR | 1,036,300 | 1,327,907 |
PTT PCL NVDR | 5,067,670 | 5,036,237 |
Thai Oil PCL NVDR | 608,400 | 668,200 |
The Siam Cement PCL NVDR | 221,700 | 2,402,271 |
The Siam Commercial Bank PCL NVDR | 651,200 | 1,355,883 |
15,176,739 | ||
Turkey 1.3% | ||
Akbank T.A.S. * | 1,233,225 | 699,623 |
BIM Birlesik Magazalar A/S | 85,140 | 673,157 |
Eregli Demir ve Celik Fabrikalari TAS | 679,931 | 777,535 |
Haci Omer Sabanci Holding A/S | 585,650 | 576,218 |
KOC Holding A/S | 445,957 | 754,884 |
Tupras-Turkiye Petrol Rafinerileri A/S * | 77,569 | 693,592 |
Turk Hava Yollari AO * | 390,549 | 420,220 |
Turkcell Iletisim Hizmetleri A/S | 527,490 | 913,398 |
Turkiye Garanti Bankasi A/S * | 958,333 | 756,615 |
Turkiye Halk Bankasi A/S * | 899,721 | 504,982 |
Turkiye Is Bankasi A/S, Class C * | 845,420 | 516,698 |
7,286,922 | ||
Security | Number of Shares | Value ($) |
United Arab Emirates 0.7% | ||
Abu Dhabi Commercial Bank PJSC | 416,408 | 662,579 |
Emaar Properties PJSC * | 1,185,541 | 849,568 |
Emirates Telecommunications Group Co. PJSC | 299,905 | 1,374,041 |
First Abu Dhabi Bank PJSC | 321,378 | 990,293 |
3,876,481 | ||
Total Common Stock | ||
(Cost $526,484,143) | 521,888,631 | |
Preferred Stock 4.7% of net assets | ||
Brazil 3.5% | ||
Banco Bradesco S.A. | 1,181,833 | 4,152,311 |
Centrais Eletricas Brasileiras S.A., Class B | 38,720 | 209,122 |
Companhia Energetica de Minas Gerais | 442,229 | 789,976 |
Gerdau S.A. | 443,006 | 1,683,870 |
Itau Unibanco Holding S.A. | 1,493,479 | 6,111,397 |
Metalurgica Gerdau S.A. | 505,077 | 862,635 |
Petroleo Brasileiro S.A. | 1,294,254 | 4,272,113 |
Telefonica Brasil S.A. | 154,472 | 1,145,224 |
19,226,648 | ||
Colombia 0.1% | ||
Bancolombia S.A. | 126,953 | 803,635 |
Russia 1.1% | ||
Surgutneftegas PJSC | 2,679,500 | 1,222,819 |
Tatneft PJSC | 33,700 | 169,124 |
Transneft PJSC | 2,870 | 4,772,270 |
6,164,213 | ||
Total Preferred Stock | ||
(Cost $30,267,023) | 26,194,496 | |
Other Investment Company 0.1% of net assets | ||
United States 0.1% | ||
Securities Lending Collateral 0.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.04% (c) | 420,000 | 420,000 |
Total Other Investment Company | ||
(Cost $420,000) | 420,000 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.0% of net assets | ||
Time Deposits 0.0% | ||
Brown Brothers Harriman | ||
Euro | ||
(0.70%), 11/02/20 (d)(e) | 2,460 | 2,865 |
Hong Kong Dollar | ||
0.04%, 11/02/20 (d) | 446,600 | 57,607 |
South African Rand | ||
3.15%, 11/02/20 (d) | 104,100 | 6,397 |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Sumitomo Mitsui Trust Bank, Limited | ||
U.S. Dollar | ||
0.01%, 11/02/20 (d) | 25,068 | 25,068 |
Total Short-Term Investments | ||
(Cost $91,937) | 91,937 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||
Futures Contracts | ||||
Long | ||||
MSCI Emerging Markets Index, expires 12/18/20 | 28 | 1,542,660 | (32,981) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $398,843. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
(e) | Rate is negative due to the current daily overnight rate at the central bank of the denominated currency and therefore is non-income producing. |
ADR — | American Depositary Receipt |
GDR — | Global Depositary Receipt |
NVDR — | Non-Voting Depositary Receipt |
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Trustees of Schwab Investments and Schwab Capital Trust and Shareholders of Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund, Schwab Fundamental Emerging Markets Large Company Index Fund, Schwab 1000 Index Fund, Schwab S&P 500 Index Fund, Schwab Small-Cap Index Fund, Schwab Total Stock Market Index Fund, Schwab U.S. Large-Cap Growth Index Fund, Schwab U.S. Large-Cap Value Index Fund, Schwab U.S. Mid-Cap Index Fund and Schwab International Index Fund:
Opinion on the Financial Statements, Financial Highlights, and Portfolio Holdings
We have audited the accompanying statements of assets and liabilities of Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund, Schwab Fundamental Emerging Markets Large Company Index Fund, Schwab 1000 Index Fund, Schwab S&P 500 Index Fund, Schwab Small-Cap Index Fund, Schwab Total Stock Market Index Fund, Schwab U.S. Large-Cap Growth Index Fund, Schwab U.S. Large-Cap Value Index Fund, Schwab U.S. Mid-Cap Index Fund and Schwab International Index Fund (the “Funds”), including the condensed portfolio holdings, as of October 31, 2020, the related statements of operations, statements of changes in net assets and the financial highlights for the year then ended, and the related notes (the financial statements and financial highlights are included in Item 1 of this Form N-CSR), and the portfolio holdings as of October 31, 2020 (included in Item 6 of this Form N-CSR). In our opinion, the financial statements, financial highlights, and portfolio holdings present fairly, in all material respects, the financial position of the Funds as of October 31, 2020, and the results of their operations, the changes in their net assets, and the financial highlights for the year then ended in conformity with accounting principles generally accepted in the United States of America. The statements of changes in net assets for the year ended October 31, 2019 and the financial highlights for each of the four years in the period ended October 31, 2019; except for Schwab U.S. Large-Cap Growth Index Fund, Schwab U.S. Large-Cap Value Index Fund, and Schwab U.S. Mid-Cap Index Fund, the financial highlights for the year ended October 31, 2019 and for the period from December 20, 2017 to October 31, 2018, were audited by other auditors, whose report, dated December 16, 2019, expressed an unqualified opinion on such statements of changes in net assets and financial highlights.
Basis for Opinion
These financial statements, financial highlights, and portfolio holdings are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements, financial highlights, and portfolio holdings based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements, financial highlights, and portfolio holdings are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, financial highlights, and portfolio holdings, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements, financial highlights, and portfolio holdings. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the
financial statements, financial highlights, and portfolio holdings. Our procedures included confirmation of securities owned as of October 31, 2020, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ Deloitte & Touche LLP
Denver, Colorado
December 16, 2020
We have served as the auditor of one or more investment companies in the Schwab Funds Complex since 2020.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) | Based on their evaluation of Registrant’s disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant’s Chief Executive Officer, Jonathan de St. Paer and Registrant’s Chief Financial Officer, Mark Fischer, have concluded that Registrant’s disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant’s officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above. |
(b) | During the period covered by this report, there have been no changes in Registrant’s internal control over financial reporting that the above officers believe to have materially affected, or to be reasonably likely to materially affect, Registrant’s internal control over financial reporting. |
Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: Exhibits.
(2) |
(3) | Not applicable. |
(b) |
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.
(Registrant) Schwab Capital Trust
By: | /s/ Jonathan de St. Paer | |
Jonathan de St. Paer Chief Executive Officer | ||
Date: | December 16, 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/ Jonathan de St. Paer | |
Jonathan de St. Paer Chief Executive Officer | ||
Date: | December 16, 2020 | |
By: | /s/ Mark Fischer | |
Mark Fischer Chief Financial Officer | ||
Date: | December 16, 2020 |