c048b631-e74f-4717-8f79-572372557498

 

 

 

 

 

TABLE OF CONTENTS

 

Vanguard Emerging Markets Stock Index Fund
Investor Shares - VEIEX

   

Vanguard Emerging Markets Stock Index Fund
FTSE Emerging Markets ETF Shares - VWO

   

Vanguard Emerging Markets Stock Index Fund
Admiral™ Shares - VEMAX

   

Vanguard Emerging Markets Stock Index Fund
Institutional Shares - VEMIX

   

Vanguard Emerging Markets Stock Index Fund
Institutional Plus Shares - VEMRX

   

 

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Vanguard Emerging Markets Stock Index Fund
Investor Shares (VEIEX)
Annual Shareholder Report | October 31, 2025
This annual shareholder report contains important information about Vanguard Emerging Markets Stock Index Fund (the "Fund") for the period of November 1, 2024, to October 31, 2025. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Share Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
Investor Shares $32 0.29%
How did the Fund perform during the reporting period?
  • For the 12 months ended October 31, 2025, the Fund slightly outperformed its benchmark. This was largely because of differences in the price of securities used by the Fund to calculate its net asset value and the quoted published prices for the same securities. This practice is known as fair-value pricing.
  • Optimism in the U.S. about the prospect of tax cuts, robust corporate earnings, and artificial intelligence was, at times, tempered by market concerns about interest rates, stretched equity valuations, and U.S. trade policy announcements. Short-term interest rates generally fell during the 12-month period, with the Federal Reserve and the Bank of England each making four rate cuts and the European Central Bank making five. 
  • Several markets in the index posted double-digit gains. China and Taiwan, by far the two largest markets in the index by weight, contributed most to performance. By sector, technology and financials contributed most. 
How did the Fund perform over the past 10 years?
Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. The graph and returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.
Cumulative Performance: October 31, 2015, Through October 31, 2025
Initial Investment of $10,000
Fund Performance - Growth of 10K
Average Annual Total Returns
1 Year 5 Years 10 Years
Investor Shares 21.68% 7.37% 7.32%
Spliced Emerging Markets Index 21.48% 7.94% 7.65%
FTSE Global All Cap ex US Index 24.57% 11.36% 7.86%
Fund Statistics
(as of October 31, 2025)
Fund Net Assets
(in millions)		 $141,520
Number of Portfolio Holdings 6,119
Portfolio Turnover Rate 6%
Total Investment Advisory Fees
(in thousands)		 $7,296
Portfolio Composition % of Net Assets
(as of October 31, 2025)
Africa 3.9%
Asia 87.2%
Europe 1.3%
North America 2.1%
South America 4.7%
Other Assets and Liabilities—Net 0.8%
This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Logo
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2025 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
AR533
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Vanguard Emerging Markets Stock Index Fund
FTSE Emerging Markets ETF Shares (VWO) NYSE Arca
Annual Shareholder Report | October 31, 2025
This annual shareholder report contains important information about Vanguard Emerging Markets Stock Index Fund (the "Fund") for the period of November 1, 2024, to October 31, 2025. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Share Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
FTSE Emerging Markets ETF Shares $8 0.07%
How did the Fund perform during the reporting period?
  • For the 12 months ended October 31, 2025, the Fund slightly outperformed its benchmark. This was largely because of differences in the price of securities used by the Fund to calculate its net asset value and the quoted published prices for the same securities. This practice is known as fair-value pricing.
  • Optimism in the U.S. about the prospect of tax cuts, robust corporate earnings, and artificial intelligence was, at times, tempered by market concerns about interest rates, stretched equity valuations, and U.S. trade policy announcements. Short-term interest rates generally fell during the 12-month period, with the Federal Reserve and the Bank of England each making four rate cuts and the European Central Bank making five. 
  • Several markets in the index posted double-digit gains. China and Taiwan, by far the two largest markets in the index by weight, contributed most to performance. By sector, technology and financials contributed most. 
How did the Fund perform over the past 10 years?
Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. The graph and returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.
Cumulative Performance: October 31, 2015, Through October 31, 2025
Initial Investment of $10,000
Fund Performance - Growth of 10K
Average Annual Total Returns
1 Year 5 Years 10 Years
FTSE Emerging Markets ETF Shares Net Asset Value 21.95% 7.61% 7.54%
FTSE Emerging Markets ETF Shares Market Price 21.97% 7.78% 7.62%
Spliced Emerging Markets Index 21.48% 7.94% 7.65%
FTSE Global All Cap ex US Index 24.57% 11.36% 7.86%
Fund Statistics
(as of October 31, 2025)
Fund Net Assets
(in millions)		 $141,520
Number of Portfolio Holdings 6,119
Portfolio Turnover Rate 6%
Total Investment Advisory Fees
(in thousands)		 $7,296
Portfolio Composition % of Net Assets
(as of October 31, 2025)
Africa 3.9%
Asia 87.2%
Europe 1.3%
North America 2.1%
South America 4.7%
Other Assets and Liabilities—Net 0.8%
This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities.
How has the Fund changed?
During the reporting period, the expense ratio for the ETF Share class was reduced.
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by February 28, 2026, at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Logo
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2025 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
AR964
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Vanguard Emerging Markets Stock Index Fund
Admiral™ Shares (VEMAX)
Annual Shareholder Report | October 31, 2025
This annual shareholder report contains important information about Vanguard Emerging Markets Stock Index Fund (the "Fund") for the period of November 1, 2024, to October 31, 2025. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Share Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
Admiral Shares $14 0.13%
How did the Fund perform during the reporting period?
  • For the 12 months ended October 31, 2025, the Fund slightly outperformed its benchmark. This was largely because of differences in the price of securities used by the Fund to calculate its net asset value and the quoted published prices for the same securities. This practice is known as fair-value pricing.
  • Optimism in the U.S. about the prospect of tax cuts, robust corporate earnings, and artificial intelligence was, at times, tempered by market concerns about interest rates, stretched equity valuations, and U.S. trade policy announcements. Short-term interest rates generally fell during the 12-month period, with the Federal Reserve and the Bank of England each making four rate cuts and the European Central Bank making five. 
  • Several markets in the index posted double-digit gains. China and Taiwan, by far the two largest markets in the index by weight, contributed most to performance. By sector, technology and financials contributed most. 
How did the Fund perform over the past 10 years?
Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. The graph and returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.
Cumulative Performance: October 31, 2015, Through October 31, 2025
Initial Investment of $10,000
Fund Performance - Growth of 10K
Average Annual Total Returns
1 Year 5 Years 10 Years
Admiral Shares 21.90% 7.54% 7.48%
Spliced Emerging Markets Index 21.48% 7.94% 7.65%
FTSE Global All Cap ex US Index 24.57% 11.36% 7.86%
Fund Statistics
(as of October 31, 2025)
Fund Net Assets
(in millions)		 $141,520
Number of Portfolio Holdings 6,119
Portfolio Turnover Rate 6%
Total Investment Advisory Fees
(in thousands)		 $7,296
Portfolio Composition % of Net Assets
(as of October 31, 2025)
Africa 3.9%
Asia 87.2%
Europe 1.3%
North America 2.1%
South America 4.7%
Other Assets and Liabilities—Net 0.8%
This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities.
How has the Fund changed?
During the reporting period, the expense ratio for the Admiral Share class was reduced.
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by February 28, 2026, at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Logo
Fund Information • 800-662-7447
Direct Investor Account Services • 800-662-2739
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2025 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
AR5533
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Vanguard Emerging Markets Stock Index Fund
Institutional Shares (VEMIX)
Annual Shareholder Report | October 31, 2025
This annual shareholder report contains important information about Vanguard Emerging Markets Stock Index Fund (the "Fund") for the period of November 1, 2024, to October 31, 2025. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Share Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
Institutional Shares $10 0.09%
How did the Fund perform during the reporting period?
  • For the 12 months ended October 31, 2025, the Fund slightly outperformed its benchmark. This was largely because of differences in the price of securities used by the Fund to calculate its net asset value and the quoted published prices for the same securities. This practice is known as fair-value pricing.
  • Optimism in the U.S. about the prospect of tax cuts, robust corporate earnings, and artificial intelligence was, at times, tempered by market concerns about interest rates, stretched equity valuations, and U.S. trade policy announcements. Short-term interest rates generally fell during the 12-month period, with the Federal Reserve and the Bank of England each making four rate cuts and the European Central Bank making five. 
  • Several markets in the index posted double-digit gains. China and Taiwan, by far the two largest markets in the index by weight, contributed most to performance. By sector, technology and financials contributed most. 
How did the Fund perform over the past 10 years?
Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. The graph and returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.
Cumulative Performance: October 31, 2015, Through October 31, 2025
Initial Investment of $5,000,000
Fund Performance - Growth of 10K
Average Annual Total Returns
1 Year 5 Years 10 Years
Institutional Shares 21.89% 7.57% 7.52%
Spliced Emerging Markets Index 21.48% 7.94% 7.65%
FTSE Global All Cap ex US Index 24.57% 11.36% 7.86%
Fund Statistics
(as of October 31, 2025)
Fund Net Assets
(in millions)		 $141,520
Number of Portfolio Holdings 6,119
Portfolio Turnover Rate 6%
Total Investment Advisory Fees
(in thousands)		 $7,296
Portfolio Composition % of Net Assets
(as of October 31, 2025)
Africa 3.9%
Asia 87.2%
Europe 1.3%
North America 2.1%
South America 4.7%
Other Assets and Liabilities—Net 0.8%
This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities.
How has the Fund changed?
During the reporting period, the expense ratio for the Institutional Share class was reduced.
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by February 28, 2026, at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Logo
Fund Information • 800-662-7447
Institutional Investor Services • 800-523-1036
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2025 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
AR239
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Vanguard Emerging Markets Stock Index Fund
Institutional Plus Shares (VEMRX)
Annual Shareholder Report | October 31, 2025
This annual shareholder report contains important information about Vanguard Emerging Markets Stock Index Fund (the "Fund") for the period of November 1, 2024, to October 31, 2025. You can find additional information about the Fund at https://personal1.vanguard.com/ngf‑next‑gen‑form‑webapp/fund‑literature. You can also request this information by contacting us at 800-662-7447. The report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Share Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
Institutional Plus Shares $8 0.07%
How did the Fund perform during the reporting period?
  • For the 12 months ended October 31, 2025, the Fund slightly outperformed its benchmark. This was largely because of differences in the price of securities used by the Fund to calculate its net asset value and the quoted published prices for the same securities. This practice is known as fair-value pricing.
  • Optimism in the U.S. about the prospect of tax cuts, robust corporate earnings, and artificial intelligence was, at times, tempered by market concerns about interest rates, stretched equity valuations, and U.S. trade policy announcements. Short-term interest rates generally fell during the 12-month period, with the Federal Reserve and the Bank of England each making four rate cuts and the European Central Bank making five. 
  • Several markets in the index posted double-digit gains. China and Taiwan, by far the two largest markets in the index by weight, contributed most to performance. By sector, technology and financials contributed most. 
How did the Fund perform over the past 10 years?
Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. The graph and returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.
Cumulative Performance: October 31, 2015, Through October 31, 2025
Initial Investment of $100,000,000
Fund Performance - Growth of 10K
Average Annual Total Returns
1 Year 5 Years 10 Years
Institutional Plus Shares 21.95% 7.60% 7.55%
Spliced Emerging Markets Index 21.48% 7.94% 7.65%
FTSE Global All Cap ex US Index 24.57% 11.36% 7.86%
Fund Statistics
(as of October 31, 2025)
Fund Net Assets
(in millions)		 $141,520
Number of Portfolio Holdings 6,119
Portfolio Turnover Rate 6%
Total Investment Advisory Fees
(in thousands)		 $7,296
Portfolio Composition % of Net Assets
(as of October 31, 2025)
Africa 3.9%
Asia 87.2%
Europe 1.3%
North America 2.1%
South America 4.7%
Other Assets and Liabilities—Net 0.8%
This table reflects the Fund’s investments, including short-term investments, derivatives and other assets and liabilities.
How has the Fund changed?
During the reporting period, the expense ratio for the Institutional Plus Share class was reduced.
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by February 28, 2026, at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature or upon request at 800-662-7447.
Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.
Connect with Vanguard ® • vanguard.com
Logo
Fund Information • 800-662-7447
Institutional Investor Services • 800-523-1036
Text Telephone for People Who Are Deaf or Hard of Hearing • 800-749-7273
© 2025 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
AR1865

 

 

 c048b631-e74f-4717-8f79-572372557498

 

 

Financial Statements
For the year ended October 31, 2025
Vanguard Emerging Markets Stock Index Fund

 

Contents
Financial Statements
 1
Report of Independent Registered

Public Accounting Firm
 90
Tax information
 91
   

 

Emerging Markets Stock Index Fund
Financial Statements
Schedule of Investments
As of October 31, 2025
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
          Shares Market
Value•
($000)
Common Stocks (98.1%)
Brazil (3.0%)
  Vale SA 47,886,104 580,869
  Petroleo Brasileiro SA - Petrobras 49,478,828 289,794
  B3 SA - Brasil Bolsa Balcao 69,633,177 163,860
  Centrais Eletricas Brasileiras SA 15,154,863 156,959
  WEG SA 19,832,841 155,199
  Banco BTG Pactual SA 15,651,466 142,028
  Ambev SA 58,255,139 137,626
  Embraer SA 8,109,581 131,126
  Cia de Saneamento Basico do Estado de Sao Paulo SABESP 4,927,091 120,733
1 Rede D'Or Sao Luiz SA 13,017,599 104,868
  Banco do Brasil SA 22,894,549 93,196
  Equatorial Energia SA 13,437,067 91,538
  Localiza Rent a Car SA 11,634,627 85,293
  Suzano SA 8,983,611 81,638
  Itau Unibanco Holding SA ADR 10,910,663 80,303
* PRIO SA 10,365,366 69,418
  Vibra Energia SA 14,080,446 62,290
  Telefonica Brasil SA 10,333,130 61,538
  Banco Bradesco SA 19,645,053 56,489
  BB Seguridade Participacoes SA 8,582,542 52,405
  Rumo SA 16,317,300 48,285
  Motiva Infraestrutura de Mobilidade SA 16,073,001 47,443
  TIM SA 9,792,675 44,213
  TOTVS SA 5,175,791 42,686
* Eneva SA 12,460,077 42,406
  Itau Unibanco Holding SA 6,437,799 42,050
  Ultrapar Participacoes SA 9,634,095 38,340
  MBRF Global Foods Co. SA 11,054,192 36,718
  Lojas Renner SA 13,287,815 36,653
  Energisa SA 3,709,286 35,735
  Klabin SA 9,949,711 33,363
  Raia Drogasil SA 8,751,706 32,535
  Cia de Saneamento Basico do Estado de Sao Paulo SABESP ADR 1,166,239 28,620
  Smartfit Escola de Ginastica e Danca SA 5,708,941 26,720
  Sendas Distribuidora SA 16,627,646 26,580
  Cia De Sanena Do Parana 4,003,201 25,656
  Engie Brasil Energia SA 3,431,688 25,515
  Alupar Investimento SA 4,070,905 24,653
*,1 Hapvida Participacoes e Investimentos SA 4,192,854 24,378
  Cia Paranaense de Energia - Copel 9,578,474 23,341
  Caixa Seguridade Participacoes SA 7,992,300 22,239
  Transmissora Alianca de Energia Eletrica SA 3,086,371 21,857
  Porto Seguro SA 2,427,890 21,684
  Allos SA 4,640,809 21,522
  Multiplan Empreendimentos Imobiliarios SA 4,204,096 21,482
  Banco Bradesco SA ADR 6,095,836 20,604
  Kinea Rendimentos Imobiliarios FII (BVMF) 1,037,414 20,440
* Natura Cosmeticos SA 11,874,200 19,886
  Cyrela Brazil Realty SA Empreendimentos e Participacoes 3,506,096 19,857
  CPFL Energia SA 2,481,147 19,185
  Hypera SA 3,980,803 19,120
1 GPS Participacoes e Empreendimentos SA 5,379,197 19,017
  Embraer SA ADR 289,165 18,645
* Cosan SA 15,787,602 18,047
2 Banco Santander Brasil SA ADR 3,101,965 17,960
  Cia de Saneamento de Minas Gerais Copasa MG 2,526,470 17,747
  Kinea Indice de Precos FII 1,031,932 16,879
  Cogna Educacao SA 24,011,421 16,692
  Cia Paranaense de Energia - Copel ADR (XNYS) 1,528,503 15,805
  Direcional Engenharia SA 4,989,087 15,746
1

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Brava Energia 5,614,891 15,405
  XP MALLS FDO INV IMOB FII 755,470 14,815
  Neoenergia SA 2,616,459 14,191
  Banco Santander Brasil SA 2,389,717 13,832
  Patria Log Fundo de Investimento Imobiliario Responsabilidade Limitada 442,406 13,034
  Cury Construtora e Incorporadora SA 1,725,546 11,207
  Iguatemi SA 2,444,900 11,120
  Kinea Renda Imobiliaria FII 392,166 10,832
  Cia Siderurgica Nacional SA 5,825,344 10,222
  Petroleo Brasileiro SA - Petrobras ADR 915,919 10,121
  Maxi Renda FII 5,591,898 10,030
  FII BTLG 510,391 9,766
* Minerva SA 7,174,062 9,574
  Auren Energia SA 4,651,786 9,503
  Vivara Participacoes SA 1,638,060 9,500
  Azzas 2154 SA 1,728,722 9,225
  Fleury SA 3,402,790 9,203
  Cia Energetica de Minas Gerais ADR 4,339,107 9,069
  Patria Renda Urbana Fundo de Investimento Imobiliario Responsabilidade Limitada 365,320 8,586
  Odontoprev SA 3,569,638 8,446
  M Dias Branco SA 1,537,145 8,377
  YDUQS Participacoes SA 3,075,550 8,123
  Kinea High Yield CRI - FII 429,242 7,997
  Grupo Mateus SA 6,599,608 7,900
* Orizon Valorizacao de Residuos SA 744,403 7,674
  Magazine Luiza SA 4,812,757 7,577
  Vinci Shopping Centers FII 373,923 7,431
* MRV Engenharia e Participacoes SA 5,181,663 7,281
  SLC Agricola SA 2,408,266 7,229
  XP Log FII 378,271 7,164
* IRB-Brasil Resseguros SA 775,277 7,110
  EcoRodovias Infraestrutura e Logistica SA 4,597,771 6,811
  CSN Mineracao SA 5,991,214 6,760
* Kinea Rendimentos Imobiliarios FII 332,954 6,560
  Capitania Securities II FII 4,501,890 6,368
  Fras-Le SA 1,477,072 6,301
  Hedge Brasil Shopping FII 1,654,870 6,127
  Vulcabras SA 1,376,435 5,910
  C&A Modas SA 1,891,600 5,714
* Hidrovias do Brasil SA 7,804,821 5,672
  Trx Real Estate FII 298,669 5,619
3 FII Iridium 482,790 5,250
  JHSF Participacoes SA 4,277,300 5,239
  Dexco SA 5,170,218 5,151
  Fundo De Investimento Imobiliario VBI Prime Properties 371,371 5,096
2 TIM SA ADR 220,513 4,981
  Sao Martinho SA 1,893,495 4,941
  Construtora Tenda SA 1,119,094 4,903
  Ez Tec Empreendimentos e Participacoes SA 1,343,378 4,632
  Fii UBS Br Receb Imob 315,969 4,546
  Fundo De Investimento Imobiliario Tg Ativo Real 283,454 4,522
  Tres Tentos Agroindustrial SA 1,484,003 4,416
  Petroreconcavo SA 1,903,544 4,394
  Mills Locacao Servicos e Logistica SA 1,736,259 4,212
  Cia Siderurgica Nacional SA ADR 2,211,796 3,893
  Grendene SA 3,861,397 3,775
2 Cia Paranaense de Energia - Copel ADR 379,139 3,681
  Iochpe Maxion SA 1,789,849 3,643
  Mahle Metal Leve SA 647,073 3,588
  SIMPAR SA 4,098,800 3,520
  Centrais Eletricas Brasileiras SA ADR 328,208 3,397
  Vamos Locacao de Caminhoes Maquinas e Equipamentos SA 5,410,850 3,259
  Grupo SBF SA 1,292,568 3,102
1 LWSA SA 4,218,744 3,066
  BrasilAgro - Co. Brasileira de Propriedades Agricolas 767,886 2,852
* Log-in Logistica Intermodal SA 449,600 2,758
  LOG Commercial Properties e Participacoes SA 620,218 2,732
  Tupy SA 1,175,257 2,704
* CVC Brasil Operadora e Agencia de Viagens SA 7,392,062 2,583
* Cia Brasileira de Distribuicao 3,693,591 2,581
2

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Cia Brasileira de Aluminio 2,626,601 2,534
  Sendas Distribuidora SA ADR 321,137 2,527
  Intelbras SA Industria de Telecomunicacao Eletronica Brasileira 1,108,700 2,465
  Pet Center Comercio e Participacoes SA 3,244,195 2,243
  Centrais Eletricas Brasileiras SA ADR (XNYS) 191,585 2,119
  Cia Energetica de Minas Gerais 667,540 1,804
  Gerdau SA ADR 450,448 1,572
* Oncoclinicas do Brasil Servicos Medicos SA 3,580,755 1,444
*,2 Braskem SA Class A ADR 272,413 684
* Suzano SA ADR 28,372 256
  Ambev SA ADR 101,325 234
* Cia Brasileira de Distribuicao ADR 354,344 227
            4,282,386
Chile (0.5%)
  Banco de Chile 591,408,408 103,712
  Latam Airlines Group SA 3,414,785,881 77,607
  Falabella SA 11,044,489 69,547
  Banco de Credito e Inversiones SA 1,034,397 53,087
  Cencosud SA 16,981,538 52,599
  Banco Santander Chile 615,999,591 44,508
  Empresas Copec SA 5,219,270 37,284
  Parque Arauco SA 8,912,244 24,848
  Enel Chile SA 317,934,226 24,267
  Plaza SA 8,591,211 24,176
  Enel Americas SA 247,169,966 23,368
  Empresas CMPC SA 14,733,851 21,278
  Quinenco SA 3,628,041 16,585
  Cencosud Shopping SA 6,376,050 15,121
  Banco Itau Chile SA 803,227 14,584
  Latam Airlines Group SA ADR 319,288 14,365
  Colbun SA 92,246,258 13,864
  Aguas Andinas SA Class A 36,202,480 13,794
  Banco Santander Chile ADR 474,037 13,605
  Cia Cervecerias Unidas SA 1,712,784 10,911
*,2 Sociedad Quimica y Minera de Chile SA ADR 190,206 9,318
  Empresa Nacional de Telecomunicaciones SA 1,796,406 8,557
  Engie Energia Chile SA 5,876,332 8,445
  Cia Sud Americana de Vapores SA 161,734,339 8,039
  Inversiones La Construccion SA 449,396 7,153
  SMU SA 40,948,127 6,659
  Vina Concha y Toro SA 6,063,883 6,612
  Ripley Corp. SA 13,401,870 6,512
  Salfacorp SA 5,629,421 6,183
  Inversiones Aguas Metropolitanas SA 5,675,774 5,724
* CAP SA 715,121 4,779
  SONDA SA 5,406,862 1,955
  Enel Chile SA ADR 72,748 280
            749,326
China (32.7%)
  Tencent Holdings Ltd. 82,750,644 6,721,650
  Alibaba Group Holding Ltd. 239,095,160 5,087,646
* PDD Holdings Inc. ADR 10,161,527 1,370,485
*,1 Xiaomi Corp. Class B 230,505,600 1,278,825
  China Construction Bank Corp. Class H 1,288,548,103 1,275,716
*,1 Meituan Class B 71,186,186 937,006
  Industrial & Commercial Bank of China Ltd. Class H 1,061,138,614 822,169
  NetEase Inc. 24,324,911 682,575
  BYD Co. Ltd. Class H 49,172,547 635,309
  Ping An Insurance Group Co. of China Ltd. Class H 86,544,313 625,225
  Trip.com Group Ltd. 8,331,353 586,289
  JD.com Inc. Class A 33,796,593 557,981
  Bank of China Ltd. Class H 912,392,735 516,637
* Baidu Inc. Class A 29,261,965 442,916
1 Kuaishou Technology 37,185,700 345,244
  Zijin Mining Group Co. Ltd. Class H 79,917,097 330,618
  China Merchants Bank Co. Ltd. Class H 50,508,795 316,616
  China Life Insurance Co. Ltd. Class H 99,403,734 313,469
  Agricultural Bank of China Ltd. Class H 410,886,343 313,456
  PetroChina Co. Ltd. Class H 277,614,227 286,975
3

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
1 Pop Mart International Group Ltd. 8,913,000 253,531
* BeOne Medicines Ltd. Class H 10,511,400 252,718
*,1 Innovent Biologics Inc. 21,303,320 238,972
  China Shenhua Energy Co. Ltd. Class H 45,269,860 235,728
  Kweichow Moutai Co. Ltd. Class A 1,122,104 225,710
  PICC Property & Casualty Co. Ltd. Class H 92,364,207 218,213
* XPeng Inc. Class A 18,679,965 217,625
*,1 Wuxi Biologics Cayman Inc. 46,324,566 216,062
  Contemporary Amperex Technology Co. Ltd. Class A 3,930,923 214,924
  Geely Automobile Holdings Ltd. Class A 77,216,743 183,182
  Yum China Holdings Inc. 4,249,750 183,015
  ANTA Sports Products Ltd. 16,644,205 173,734
*,2 NIO Inc. Class A 23,362,688 168,925
* Li Auto Inc. Class A 16,123,023 167,310
  China Petroleum & Chemical Corp. Class H 304,878,822 162,166
1 Nongfu Spring Co. Ltd. Class H 23,955,600 159,246
  KE Holdings Inc. ADR 8,704,022 148,404
  Tencent Music Entertainment Group ADR 6,620,381 147,767
  China Pacific Insurance Group Co. Ltd. Class H 34,544,992 140,047
  China Resources Land Ltd. 38,678,325 139,742
  Full Truck Alliance Co. Ltd. ADR 10,660,958 138,592
2 China Hongqiao Group Ltd. 35,963,500 136,546
*,1 Akeso Inc. 9,052,000 131,805
*,2 Horizon Robotics 114,383,400 129,540
* New Oriental Education & Technology Group Inc. 20,469,550 122,403
  Sino Biopharmaceutical Ltd. 129,414,444 117,888
* Bilibili Inc. 3,837,821 115,914
  China CITIC Bank Corp. Ltd. Class H 119,542,476 114,056
  CMOC Group Ltd. Class H 50,504,171 109,339
  ZTO Express Cayman Inc. 5,906,750 108,972
*,1 JD Health International Inc. 13,853,390 108,139
*,1,2 SenseTime Group Inc. Class B 354,414,000 108,100
  China Merchants Bank Co. Ltd. Class A 18,542,049 106,656
  CSPC Pharmaceutical Group Ltd. 106,498,529 104,900
  People's Insurance Co. Group of China Ltd. Class H 115,597,422 103,819
  Foxconn Industrial Internet Co. Ltd. Class A 10,236,220 103,228
  CITIC Ltd. 65,694,026 101,539
  H World Group Ltd. 26,006,830 100,845
  Haier Smart Home Co. Ltd. Class H 30,977,655 100,736
* J&T Global Express Ltd. 78,267,800 100,427
1 3SBio Inc. 23,385,586 93,043
1 Postal Savings Bank of China Co. Ltd. Class H 128,762,010 90,727
  Yangzijiang Shipbuilding Holdings Ltd. 33,499,898 90,475
  Kanzhun Ltd. ADR 4,070,725 90,207
*,1,2 Hua Hong Semiconductor Ltd. Class H 8,794,606 90,146
1 China Tower Corp. Ltd. Class H 62,331,493 90,047
  Midea Group Co. Ltd. Class H 8,200,417 88,641
  Sunny Optical Technology Group Co. Ltd. 9,051,175 87,468
  China Yangtze Power Co. Ltd. Class A 21,870,300 86,404
  Agricultural Bank of China Ltd. Class A 76,909,895 86,121
  ENN Energy Holdings Ltd. 9,878,355 86,073
  Bank of Communications Co. Ltd. Class H 95,129,609 84,504
  China Overseas Land & Investment Ltd. 49,505,341 83,080
  CITIC Securities Co. Ltd. Class H 21,819,938 83,070
  Zhaojin Mining Industry Co. Ltd. Class H 22,054,667 82,121
  New China Life Insurance Co. Ltd. Class H 12,811,612 80,964
  Ping An Insurance Group Co. of China Ltd. Class A 9,731,600 79,141
  Zijin Mining Group Co. Ltd. Class A 18,442,244 78,908
  Industrial & Commercial Bank of China Ltd. Class A 70,873,576 77,555
1 Guotai Haitong Securities Co. Ltd. Class H 37,925,427 72,670
  China Mengniu Dairy Co. Ltd. 39,830,920 72,482
* Cambricon Technologies Corp. Ltd. Class A 372,060 71,910
* Kingdee International Software Group Co. Ltd. 37,974,284 71,644
  China Resources Beer Holdings Co. Ltd. 20,918,624 71,553
1 Fuyao Glass Industry Group Co. Ltd. Class H 8,031,200 71,520
1 Hansoh Pharmaceutical Group Co. Ltd. 15,179,000 69,682
  BYD Co. Ltd. Class A 4,911,439 69,648
*,1 Zhejiang Leapmotor Technology Co. Ltd. Class H 9,042,600 67,735
  China Galaxy Securities Co. Ltd. Class H 46,799,375 67,326
  Li Ning Co. Ltd. 30,864,574 67,106
4

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Hygon Information Technology Co. Ltd. Class A 2,072,005 66,815
* TAL Education Group ADR 5,449,220 66,807
  Zhongji Innolight Co. Ltd. Class A 984,192 64,993
  Aluminum Corp. of China Ltd. Class H 51,105,237 64,981
  China Resources Power Holdings Co. Ltd. 26,547,149 63,482
2 COSCO SHIPPING Holdings Co. Ltd. Class H 34,917,605 60,555
  Jiangxi Copper Co. Ltd. Class H 14,351,722 59,882
  Great Wall Motor Co. Ltd. Class H 30,656,375 59,294
1,2 WuXi AppTec Co. Ltd. Class H 4,221,219 58,984
1 China International Capital Corp. Ltd. Class H 21,472,340 58,417
  Kingsoft Corp. Ltd. 13,356,478 58,223
  Wuliangye Yibin Co. Ltd. Class A 3,465,137 57,966
1 CGN Power Co. Ltd. Class H 145,964,514 57,830
2 Yankuang Energy Group Co. Ltd. Class H 41,877,944 57,492
  Luxshare Precision Industry Co. Ltd. Class A 6,444,642 57,096
  Tsingtao Brewery Co. Ltd. Class H 7,991,786 54,013
  Weichai Power Co. Ltd. Class H 26,129,294 53,991
*,2 XtalPi Holdings Ltd. 37,033,000 53,920
  Industrial Bank Co. Ltd. Class A 18,852,626 53,641
  China Gold International Resources Corp. Ltd. 3,169,700 53,355
* GDS Holdings Ltd. Class A 11,763,544 52,412
  Vipshop Holdings Ltd. ADR 2,990,225 52,299
1,2 Shandong Gold Mining Co. Ltd. Class H 12,381,200 51,904
*,2 GCL Technology Holdings Ltd. 296,583,000 51,846
  Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A 5,697,879 51,331
*,2 China Ruyi Holdings Ltd. 142,418,709 50,766
*,2 Alibaba Health Information Technology Ltd. 67,556,112 50,389
1,2 Meitu Inc. 45,245,436 50,249
  Bank of Communications Co. Ltd. Class A 48,535,539 49,023
  BYD Electronic International Co. Ltd. 10,232,529 48,038
* WuXi XDC Cayman Inc. 4,939,000 47,713
  Anhui Conch Cement Co. Ltd. Class H 15,880,135 47,346
  Kunlun Energy Co. Ltd. 50,230,541 46,171
  Huaneng Power International Inc. Class H 55,860,822 46,147
  Tongcheng Travel Holdings Ltd. 16,675,600 45,888
  Sinopharm Group Co. Ltd. Class H 17,926,625 44,683
  China Coal Energy Co. Ltd. Class H 31,313,653 44,110
  China Minsheng Banking Corp. Ltd. Class H 85,883,094 43,999
  Shanghai Pudong Development Bank Co. Ltd. Class A 27,000,111 43,654
2 ZTE Corp. Class H 10,261,839 43,346
1 Huatai Securities Co. Ltd. Class H 17,156,808 43,134
  CITIC Securities Co. Ltd. Class A 10,313,606 42,630
  China Taiping Insurance Holdings Co. Ltd. 18,704,200 42,546
  Eoptolink Technology Inc. Ltd. Class A 884,304 42,488
  Minth Group Ltd. 9,463,006 41,990
1,2 Smoore International Holdings Ltd. 24,675,000 41,556
1 China Resources Mixc Lifestyle Services Ltd. 7,911,800 41,396
*,2 Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd. Class H 717,500 41,246
  China Longyuan Power Group Corp. Ltd. Class H 44,512,493 41,223
  CRRC Corp. Ltd. Class H 54,183,000 41,115
*,1 JD Logistics Inc. 24,953,746 40,680
  China Gas Holdings Ltd. 36,277,293 37,313
  NAURA Technology Group Co. Ltd. Class A 642,767 36,776
1,2 Ganfeng Lithium Group Co. Ltd. Class H 5,534,440 36,548
*,1 NetEase Cloud Music Inc. 1,173,350 36,434
  East Money Information Co. Ltd. Class A 10,073,758 36,139
  Bosideng International Holdings Ltd. 58,779,764 35,968
  China Shenhua Energy Co. Ltd. Class A 5,990,736 35,798
  Bank of China Ltd. Class A 44,868,197 35,400
* Zai Lab Ltd. 13,535,420 35,319
* Dongfeng Motor Group Co. Ltd. Class H 29,031,430 35,120
  Atour Lifestyle Holdings Ltd. ADR 897,588 34,970
  Guangdong Investment Ltd. 36,734,021 34,897
1 Longfor Group Holdings Ltd. 27,990,101 34,574
1,2 Haidilao International Holding Ltd. 20,952,000 34,527
  Muyuan Foods Co. Ltd. Class A 4,864,685 34,428
  Tingyi Cayman Islands Holding Corp. 24,994,000 34,293
  Guotai Haitong Securities Co. Ltd. 12,548,804 34,208
  CMOC Group Ltd. Class A 14,141,223 33,910
  Qfin Holdings Inc. Class A ADR 1,401,463 33,845
5

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
*,1 China CITIC Financial Asset Management Co. Ltd. Class H 252,891,000 33,525
*,2 Genscript Biotech Corp. 16,082,320 33,381
  China National Building Material Co. Ltd. Class H 46,628,541 33,044
  Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A 1,087,224 32,870
  China Resources Gas Group Ltd. 11,935,205 32,820
2 MINISO Group Holding Ltd. 6,114,912 32,694
  PetroChina Co. Ltd. Class A 25,053,369 32,262
  China Nonferrous Mining Corp. Ltd. 17,469,000 32,221
  XD Inc. 3,705,800 32,141
*,2 UBTech Robotics Corp. Ltd. Class H 1,801,450 31,877
  Seres Group Co. Ltd. Class A 1,454,748 31,769
  Victory Giant Technology Huizhou Co. Ltd. Class A 769,200 31,641
* Hesai Group ADR 1,320,745 31,341
  WuXi AppTec Co. Ltd. Class A 2,228,062 31,120
  Zhuzhou CRRC Times Electric Co. Ltd. Class H 6,112,379 31,064
1,2 Giant Biogene Holding Co. Ltd. 6,453,400 30,927
  China Merchants Port Holdings Co. Ltd. 15,958,671 30,908
  China Pacific Insurance Group Co. Ltd. Class A 6,095,124 30,419
  GF Securities Co. Ltd. Class H 12,545,000 30,286
*,1,2 Ascentage Pharma Group International 3,532,700 30,256
  Far East Horizon Ltd. 33,646,130 30,204
  Sinotruk Hong Kong Ltd. 8,937,467 29,859
  Hengan International Group Co. Ltd. 8,515,526 29,824
*,1 Mobvista Inc. 12,939,000 29,697
  Sungrow Power Supply Co. Ltd. Class A 1,095,428 29,227
  Shanxi Xinghuacun Fen Wine Factory Co. Ltd. Class A 1,088,540 29,166
*,1 China Literature Ltd. 5,408,964 29,139
  China Everbright Environment Group Ltd. 46,990,203 29,075
*,1,2 ZhongAn Online P&C Insurance Co. Ltd. Class H 13,408,093 28,870
  Kingboard Holdings Ltd. 7,964,108 28,534
  Beijing-Shanghai High Speed Railway Co. Ltd. Class A 38,844,879 28,326
  China State Construction Engineering Corp. Ltd. Class A 36,691,842 28,008
2 Xinyi Solar Holdings Ltd. 60,430,000 27,846
1 China Feihe Ltd. 52,170,000 27,844
  China Medical System Holdings Ltd. 16,077,584 27,728
  Shaanxi Coal Industry Co. Ltd. Class A 8,686,505 27,718
  Beijing Enterprises Holdings Ltd. 6,306,767 27,673
  Ping An Bank Co. Ltd. Class A 17,367,046 27,636
  China Railway Group Ltd. Class H 54,032,604 27,410
2 Laopu Gold Co. Ltd. Class H 309,800 27,270
*,1,2 Remegen Co. Ltd. Class H 2,353,000 27,234
2 COSCO SHIPPING Energy Transportation Co. Ltd. Class H 18,514,261 26,176
  Shenzhen Inovance Technology Co. Ltd. Class A 2,397,128 25,936
  China Oilfield Services Ltd. Class H 26,086,880 25,467
*,2 Kingsoft Cloud Holdings Ltd. 30,284,265 25,438
*,2 Beijing Fourth Paradigm Technology Co. Ltd. Class H 3,549,600 25,435
  SF Holding Co. Ltd. Class A 4,480,322 25,397
2 China Cinda Asset Management Co. Ltd. Class H 156,554,276 25,377
  Dongyue Group Ltd. 19,716,339 25,367
  Chongqing Rural Commercial Bank Co. Ltd. Class H 30,499,539 25,083
  Yum China Holdings Inc. (XHKG) 579,219 25,057
  CRRC Corp. Ltd. Class A 23,215,189 25,004
  Luzhou Laojiao Co. Ltd. Class A 1,317,860 24,916
  Bank of Jiangsu Co. Ltd. Class A 16,348,597 24,792
  Wanhua Chemical Group Co. Ltd. Class A 2,810,661 24,740
  Hithink RoyalFlush Information Network Co. Ltd. Class A 478,587 24,408
  China State Construction International Holdings Ltd. 21,422,728 24,370
1 Yadea Group Holdings Ltd. 15,478,000 24,199
  NARI Technology Co. Ltd. Class A 7,073,769 24,103
  Yangzijiang Financial Holding Ltd. 29,556,898 24,021
*,1 InnoCare Pharma Ltd. Class H 13,052,000 23,927
  China Construction Bank Corp. Class A 18,372,710 23,595
  Bank of Ningbo Co. Ltd. Class A 5,888,981 23,474
  Sany Heavy Industry Co. Ltd. Class A 7,523,290 23,411
  China National Nuclear Power Co. Ltd. Class A 18,412,239 23,241
  Haitian International Holdings Ltd. 8,492,180 23,205
  China Petroleum & Chemical Corp. Class A 30,004,001 23,080
  China Northern Rare Earth Group High-Tech Co. Ltd. Class A 3,208,740 22,914
  Inner Mongolia Yitai Coal Co. Ltd. Class B 11,633,875 22,691
  Foshan Haitian Flavouring & Food Co. Ltd. Class A 4,226,415 22,651
6

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  China Power International Development Ltd. 52,271,063 22,534
  Shandong Weigao Group Medical Polymer Co. Ltd. Class H 32,068,244 22,447
  Country Garden Services Holdings Co. Ltd. 27,999,827 22,264
  China Conch Venture Holdings Ltd. 17,726,518 22,164
  Chinasoft International Ltd. 29,281,155 21,920
  COSCO SHIPPING Holdings Co. Ltd. Class A 10,384,438 21,910
  Advanced Micro-Fabrication Equipment Inc. China Class A 555,879 21,839
  Inner Mongolia Yili Industrial Group Co. Ltd. Class A 5,663,318 21,833
  China United Network Communications Ltd. Class A 28,603,014 21,809
  RLX Technology Inc. ADR 8,936,626 21,805
2 Shanghai Fudan Microelectronics Group Co. Ltd. Class H 3,961,000 21,545
  JOYY Inc. ADR 362,625 21,507
2 Zhejiang Expressway Co. Ltd. Class H 21,973,877 21,451
  Haier Smart Home Co. Ltd. Class A 5,679,507 21,417
1,2 Ping An Healthcare & Technology Co. Ltd. 12,040,495 21,301
  ZTE Corp. Class A 3,481,045 21,250
  Eve Energy Co. Ltd. Class A 1,815,592 21,234
*,2 Shanghai Electric Group Co. Ltd. Class H 35,885,315 20,924
2 Jiangsu Expressway Co. Ltd. Class H 17,110,976 20,826
  Beijing Kingsoft Office Software Inc. Class A 409,516 20,667
*,1 Keymed Biosciences Inc. 2,667,000 20,652
* ZEEKR Intelligent Technology Holding Ltd. ADR 721,224 20,577
*,2 RoboSense Technology Co. Ltd. 4,555,700 20,385
  Baoshan Iron & Steel Co. Ltd. Class A 19,457,578 20,166
  China CSSC Holdings Ltd. Class A 3,983,793 20,123
  Anhui Gujing Distillery Co. Ltd. Class B 1,589,410 20,093
  Gree Electric Appliances Inc. of Zhuhai Class A 3,591,720 20,084
*,2 Sunac China Holdings Ltd. 106,958,000 20,058
*,2 Microport Scientific Corp. 12,846,943 20,049
* LONGi Green Energy Technology Co. Ltd. Class A 6,729,362 19,962
  Postal Savings Bank of China Co. Ltd. Class A 24,505,407 19,812
  OmniVision Integrated Circuits Group Inc. 1,075,820 19,766
  Shenzhen International Holdings Ltd. 18,974,978 19,669
  Autohome Inc. ADR 778,469 19,617
  China Communications Services Corp. Ltd. Class H 32,726,821 19,614
  Montage Technology Co. Ltd. Class A 1,018,967 19,531
  China Everbright Bank Co. Ltd. Class A 41,494,994 19,484
  Shengyi Technology Co. Ltd. Class A 2,154,356 19,425
2 Brilliance China Automotive Holdings Ltd. 39,438,000 19,405
  Huatai Securities Co. Ltd. Class A 6,345,201 19,387
  China Tourism Group Duty Free Corp. Ltd. Class A 1,804,910 19,307
  New China Life Insurance Co. Ltd. Class A 2,023,325 19,284
2 Shanghai Fosun Pharmaceutical Group Co. Ltd. Class H 6,218,609 19,048
  SAIC Motor Corp. Ltd. Class A 8,123,078 19,006
* Daqo New Energy Corp. ADR 579,577 18,929
*,2 Damai Entertainment Holdings Ltd. 159,329,250 18,846
  Fosun International Ltd. 29,426,125 18,666
2 AviChina Industry & Technology Co. Ltd. Class H 36,423,476 18,554
1 CSC Financial Co. Ltd. Class H 10,838,500 18,385
  Sinopec Engineering Group Co. Ltd. Class H 19,494,564 18,364
  Lens Technology Co. Ltd. Class A 4,433,754 18,327
  Zoomlion Heavy Industry Science & Technology Co. Ltd. Class H 18,899,132 18,248
  Eastroc Beverage Group Co. Ltd. Class A 463,186 18,228
  GigaDevice Semiconductor Inc. Class A 588,779 18,213
  Kingboard Laminates Holdings Ltd. 10,810,799 18,100
  China Reinsurance Group Corp. Class H 89,104,940 18,096
  China Minsheng Banking Corp. Ltd. Class A 32,903,390 18,085
  Fuyao Glass Industry Group Co. Ltd. Class A 1,900,529 18,034
  Bank of Nanjing Co. Ltd. Class A 11,212,238 17,834
  Shennan Circuits Co. Ltd. Class A 592,262 17,829
  Shandong Gold Mining Co. Ltd. Class A 3,489,680 17,618
  Fufeng Group Ltd. 16,879,495 17,473
  Goldwind Science & Technology Co. Ltd. Class H 10,231,690 17,367
2 Beijing Enterprises Water Group Ltd. 53,932,691 17,335
* Shanghai MicroPort MedBot Group Co. Ltd. Class H 4,898,500 17,266
  WUS Printed Circuit Kunshan Co. Ltd. Class A 1,728,804 17,189
  Ningxia Baofeng Energy Group Co. Ltd. Class A 6,538,300 16,956
*,2 China Vanke Co. Ltd. Class H 29,880,600 16,929
  Bank of Shanghai Co. Ltd. Class A 12,673,094 16,915
2 TravelSky Technology Ltd. Class H 12,727,867 16,750
7

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Qinghai Salt Lake Industry Co. Ltd. Class A 4,792,167 16,694
  BOE Technology Group Co. Ltd. Class A 29,221,854 16,681
  China Everbright Bank Co. Ltd. Class H 40,564,956 16,642
*,2 Air China Ltd. Class H 22,635,808 16,634
  Uni-President China Holdings Ltd. 15,351,000 16,620
  Shenwan Hongyuan Group Co. Ltd. Class A 21,596,762 16,608
  GF Securities Co. Ltd. Class A 5,189,341 16,478
1,2 Yangtze Optical Fibre & Cable Joint Stock Ltd. Co. Class H 3,576,159 16,388
  Sinotrans Ltd. Class H 23,811,836 16,185
  Jiangsu Hengli Hydraulic Co. Ltd. Class A 1,192,539 16,106
*,1,2 East Buy Holding Ltd. 5,697,000 16,053
  TCL Electronics Holdings Ltd. 13,481,329 16,007
  Ningbo Tuopu Group Co. Ltd. Class A 1,530,536 15,967
  Iflytek Co. Ltd. Class A 2,041,649 15,965
  China Merchants Securities Co. Ltd. Class A 6,528,560 15,908
  XCMG Construction Machinery Co. Ltd. Class A 10,515,915 15,729
  Suzhou Dongshan Precision Manufacturing Co. Ltd. Class A 1,622,300 15,617
2 Sunshine Insurance Group Co. Ltd. Class H 32,668,500 15,502
  China Three Gorges Renewables Group Co. Ltd. Class A 25,530,336 15,252
  China Jinmao Holdings Group Ltd. 88,103,771 15,226
* iQIYI Inc. ADR 6,578,737 15,197
  C&D International Investment Group Ltd. 7,394,966 15,189
* Nine Dragons Paper Holdings Ltd. 21,179,910 15,171
  Wens Foodstuff Group Co. Ltd. Class A 5,933,442 15,145
  Suzhou TFC Optical Communication Co. Ltd. Class A 686,049 15,129
  China Railway Group Ltd. Class A 19,108,853 15,097
  Avary Holding Shenzhen Co. Ltd. Class A 2,046,461 15,084
  Aluminum Corp. of China Ltd. Class A 10,693,819 15,003
  Zhejiang Sanhua Intelligent Controls Co. Ltd. Class A 2,134,814 14,991
1,2 China Resources Pharmaceutical Group Ltd. 23,309,126 14,938
1 Simcere Pharmaceutical Group Ltd. 9,351,000 14,894
  China Galaxy Securities Co. Ltd. Class A 6,021,995 14,885
  CSC Financial Co. Ltd. Class A 4,018,545 14,800
  Bank of Beijing Co. Ltd. Class A 18,824,635 14,795
2 China Everbright Ltd. 11,330,100 14,712
  Greentown China Holdings Ltd. 13,745,219 14,711
  Bank of Hangzhou Co. Ltd. Class A 6,650,139 14,677
  China International Capital Corp. Ltd. Class A 2,824,500 14,636
2 SF Holding Co. Ltd. Class H 3,133,200 14,538
2 Zhongsheng Group Holdings Ltd. 9,185,906 14,501
2 Grand Pharmaceutical Group Ltd. 13,563,210 14,440
  Inner Mongolia BaoTou Steel Union Co. Ltd. Class A 40,408,065 14,430
  Daqin Railway Co. Ltd. Class A 17,781,680 14,323
  GoerTek Inc. Class A 3,098,832 14,290
  Shanghai United Imaging Healthcare Co. Ltd. Class A 724,587 14,247
  Aier Eye Hospital Group Co. Ltd. Class A 8,276,918 14,244
  Harbin Electric Co. Ltd. Class H 8,643,875 14,213
2 Shoucheng Holdings Ltd. 50,461,211 14,180
  Xtep International Holdings Ltd. 19,549,291 14,156
* Shanghai Electric Group Co. Ltd. Class A 10,811,730 14,149
*,1 Tuhu Car Inc. Class A 6,200,500 14,098
* Tongwei Co. Ltd. Class A 4,041,585 14,074
2 Mao Geping Cosmetics Co. Ltd. Class H 1,215,100 14,034
* Anhui Jianghuai Automobile Group Corp. Ltd. Class A 1,953,829 14,023
  Focus Media Information Technology Co. Ltd. Class A 12,825,548 13,960
  Lingyi iTech Guangdong Co. Class A 6,279,000 13,789
2 Sany Heavy Equipment International Holdings Co. Ltd. 14,588,954 13,773
  Zhejiang Huayou Cobalt Co. Ltd. Class A 1,508,509 13,753
  Shanghai Pharmaceuticals Holding Co. Ltd. Class H 9,099,226 13,700
  SDIC Power Holdings Co. Ltd. Class A 6,700,355 13,519
  Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. Class A 538,771 13,489
* China Southern Airlines Co. Ltd. Class H 22,367,638 13,488
  Zhongjin Gold Corp. Ltd. Class A 4,291,083 13,328
  China Traditional Chinese Medicine Holdings Co. Ltd. 44,236,802 13,326
1,2 China Tourism Group Duty Free Corp. Ltd. Class H 1,546,700 13,291
  Hisense Home Appliances Group Co. Ltd. Class H 4,499,000 13,271
2 Shanghai Conant Optical Co. Ltd. Class H 2,274,800 13,185
  Ganfeng Lithium Group Co. Ltd. Class A 1,357,940 13,181
  AECC Aviation Power Co. Ltd. Class A 2,397,963 13,174
  Datang International Power Generation Co. Ltd. Class H 42,750,046 13,142
8

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Jiangsu Yanghe Distillery Co. Ltd. Class A 1,320,370 13,141
2 Huadian Power International Corp. Ltd. Class H 22,153,909 13,060
  Weichai Power Co. Ltd. Class A 6,194,611 13,031
*,1,2 Weimob Inc. 44,473,000 13,016
2 Guangzhou Automobile Group Co. Ltd. Class H 30,924,820 12,967
1 Topsports International Holdings Ltd. 32,629,000 12,932
1,2 Pharmaron Beijing Co. Ltd. Class H 3,851,223 12,859
  TBEA Co. Ltd. Class A 4,648,575 12,797
  Huaxia Bank Co. Ltd. Class A 13,365,131 12,795
* Lufax Holding Ltd. ADR 4,072,099 12,705
  Yunnan Baiyao Group Co. Ltd. Class A 1,594,157 12,700
  ANE Cayman Inc. 8,597,000 12,694
  China Suntien Green Energy Corp. Ltd. Class H 22,439,823 12,547
  Weibo Corp. Class A 1,142,246 12,490
  Zhejiang China Commodities City Group Co. Ltd. Class A 4,816,231 12,484
  China Zheshang Bank Co. Ltd. Class H 38,241,000 12,458
*,2 Lifetech Scientific Corp. 48,067,059 12,445
  China CITIC Bank Corp. Ltd. Class A 11,375,261 12,386
2 China Tobacco International HK Co. Ltd. 2,526,000 12,305
1,2 China Merchants Securities Co. Ltd. Class H 6,118,856 12,285
  Metallurgical Corp. of China Ltd. Class H 40,274,885 12,273
  Chongqing Changan Automobile Co. Ltd. Class A 6,989,702 12,175
  Rongsheng Petrochemical Co. Ltd. Class A 8,480,548 12,148
*,2 XXF Group Holdings Ltd. 9,887,500 12,108
* Kuang-Chi Technologies Co. Ltd. Class A 1,882,304 12,055
*,2 China Eastern Airlines Corp. Ltd. Class H 23,457,558 12,048
  Chaozhou Three-Circle Group Co. Ltd. Class A 1,725,008 12,040
* Air China Ltd. Class A 10,870,575 12,021
  People's Insurance Co. Group of China Ltd. Class A 10,119,799 12,012
  Guangdong Haid Group Co. Ltd. Class A 1,462,426 12,002
  IEIT Systems Co. Ltd. Class A 1,308,450 11,985
  Power Construction Corp. of China Ltd. Class A 15,108,510 11,977
2 Dongfang Electric Corp. Ltd. Class H 4,904,213 11,966
* EHang Holdings Ltd. ADR 648,490 11,939
  Anhui Conch Cement Co. Ltd. Class A 3,639,864 11,867
  GD Power Development Co. Ltd. Class A 15,853,531 11,791
  Zhejiang Juhua Co. Ltd. Class A 2,369,602 11,766
2 Wanguo Gold Group Ltd. 2,980,000 11,731
  Zangge Mining Co. Ltd. Class A 1,415,300 11,718
2 China Water Affairs Group Ltd. 14,502,149 11,699
  Yankuang Energy Group Co. Ltd. Class A 5,586,587 11,559
  Chongqing Changan Automobile Co. Ltd. Class B 19,749,631 11,493
*,1,2 CALB Group Co. Ltd. Class H 2,645,200 11,402
* Shenzhen Longsys Electronics Co. Ltd. Class A 309,500 11,365
* Tianqi Lithium Corp. Class A 1,507,440 11,323
  Consun Pharmaceutical Group Ltd. 5,801,000 11,221
1 Orient Securities Co. Ltd. Class H 11,970,000 11,153
  COSCO SHIPPING Ports Ltd. 15,107,359 11,137
  Huaqin Technology Co. Ltd. Class A 779,160 11,122
  Henan Shuanghui Investment & Development Co. Ltd. Class A 3,066,476 11,096
  Orient Securities Co. Ltd. Class A 7,216,971 11,052
  China Overseas Property Holdings Ltd. 17,657,311 11,021
* China Eastern Airlines Corp. Ltd. Class A 16,239,326 10,963
  Yuexiu Property Co. Ltd. 18,949,431 10,910
2 JF SmartInvest Holdings Ltd. 1,531,000 10,906
*,1,2 Luye Pharma Group Ltd. 26,879,956 10,890
* Beijing Compass Technology Development Co. Ltd. Class A 534,375 10,861
*,2 DPC Dash Ltd. 956,900 10,859
  Poly Developments & Holdings Group Co. Ltd. Class A 10,491,822 10,808
  CNPC Capital Co. Ltd. Class A 7,357,691 10,807
*,2 Abbisko Cayman Ltd. 5,772,000 10,801
  Hengli Petrochemical Co. Ltd. Class A 4,274,950 10,789
  Shenzhen Transsion Holdings Co. Ltd. Class A 1,003,347 10,755
  TCL Technology Group Corp. Class A 17,663,294 10,710
* Verisilicon Microelectronics Shanghai Co. Ltd. Class A 477,669 10,693
  Yihai International Holding Ltd. 6,965,648 10,688
* China Southern Airlines Co. Ltd. Class A 11,363,611 10,658
2 Sihuan Pharmaceutical Holdings Group Ltd. 55,873,595 10,650
  Shanghai Electric Power Co. Ltd. Class A 2,551,123 10,647
  Shanghai Baosight Software Co. Ltd. Class B 9,486,611 10,644
9

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  China Energy Engineering Corp. Ltd. Class A 31,415,356 10,643
  Piotech Inc. Class A 248,168 10,642
  China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A 8,003,860 10,631
  Guosen Securities Co. Ltd. Class A 5,362,062 10,587
  Greentown Service Group Co. Ltd. 18,293,032 10,509
1 China Railway Signal & Communication Corp. Ltd. Class H 23,754,798 10,423
  Hello Group Inc. Class A ADR 1,529,170 10,383
* Sichuan Biokin Pharmaceutical Co. Ltd. Class A 197,560 10,365
  China Datang Corp. Renewable Power Co. Ltd. Class H 33,826,000 10,359
  360 Security Technology Inc. Class A 6,141,495 10,337
*,1 Evergrande Property Services Group Ltd. 68,450,000 10,297
  Shanghai Rural Commercial Bank Co. Ltd. Class A 8,573,400 10,282
* Newborn Town Inc. 7,537,729 10,247
  Shanghai International Airport Co. Ltd. Class A 2,252,768 10,225
  Shanghai Industrial Holdings Ltd. 5,822,289 10,220
  Q Technology Group Co. Ltd. 5,641,424 10,145
  Gotion High-tech Co. Ltd. Class A 1,580,969 10,122
  Lonking Holdings Ltd. 25,194,868 10,043
1 Genertec Universal Medical Group Co. Ltd. 12,536,168 9,986
  JinkoSolar Holding Co. Ltd. ADR 396,443 9,955
  Yunnan Aluminium Co. Ltd. Class A 3,064,652 9,899
  Huagong Tech Co. Ltd. Class A 882,000 9,897
2 Tianneng Power International Ltd. 8,908,156 9,875
*,2 Tianqi Lithium Corp. Class H 1,601,000 9,841
1,2 Yixin Group Ltd. 33,514,500 9,769
  Range Intelligent Computing Technology Group Co. Ltd. Class A 1,368,000 9,710
2 West China Cement Ltd. 25,406,438 9,709
  Wasion Holdings Ltd. 6,008,000 9,667
1,2 Shenwan Hongyuan Group Co. Ltd. Class H 21,835,200 9,608
  Guangzhou Tinci Materials Technology Co. Ltd. Class A 1,714,178 9,608
  Jiangxi Copper Co. Ltd. Class A 1,663,007 9,603
  Shougang Fushan Resources Group Ltd. 24,469,800 9,601
*,1,2 Alphamab Oncology 6,466,000 9,570
  Unisplendour Corp. Ltd. Class A 2,486,623 9,468
  China Merchants Energy Shipping Co. Ltd. Class A 7,271,303 9,444
* Hainan Airlines Holding Co. Ltd. Class A 37,883,700 9,429
  Rockchip Electronics Co. Ltd. Class A 368,800 9,409
  Lao Feng Xiang Co. Ltd. Class B 2,566,545 9,389
1,2 Hangzhou Tigermed Consulting Co. Ltd. Class H 1,567,300 9,379
  JCET Group Co. Ltd. Class A 1,665,095 9,373
*,1,2 Jinxin Fertility Group Ltd. 29,610,000 9,366
2 Weilong Delicious Global Holdings Ltd. 6,080,600 9,327
  Zhejiang NHU Co. Ltd. Class A 2,726,386 9,315
  Onewo Inc. Class H 3,225,500 9,267
  Wolong Electric Group Co. Ltd. Class A 1,360,239 9,237
  Poly Property Services Co. Ltd. Class H 2,122,600 9,157
* Seazen Group Ltd. 32,450,101 9,142
  Everbright Securities Co. Ltd. Class A 3,477,220 9,097
*,1,2 Shanghai Junshi Biosciences Co. Ltd. Class H 2,657,597 9,072
  Shengyi Electronics Co. Ltd. Class A 592,766 9,053
* FIH Mobile Ltd. 3,792,600 9,053
2 Flat Glass Group Co. Ltd. Class H 5,755,000 9,049
  Sichuan Chuantou Energy Co. Ltd. Class A 4,370,976 9,045
  Huaneng Power International Inc. Class A 7,908,691 9,041
  Huadong Medicine Co. Ltd. Class A 1,545,347 9,025
  Yutong Bus Co. Ltd. Class A 1,983,214 9,011
  Bank of Chengdu Co. Ltd. Class A 3,796,135 8,973
*,1 Legend Holdings Corp. Class H 6,933,114 8,961
* Beijing Capital International Airport Co. Ltd. Class H 24,960,447 8,959
1,2 ZJLD Group Inc. 7,965,600 8,951
2 Chifeng Jilong Gold Mining Co. Ltd. Class H 2,419,600 8,903
  China International Marine Containers Group Co. Ltd. Class H 9,647,766 8,818
  Shenzhen Envicool Technology Co. Ltd. Class A 894,748 8,816
  Bank of Chongqing Co. Ltd. Class H 8,533,566 8,807
  Sanan Optoelectronics Co. Ltd. Class A 4,504,042 8,789
  Unigroup Guoxin Microelectronics Co. Ltd. Class A 764,471 8,781
  Great Wall Motor Co. Ltd. Class A 2,737,700 8,770
  Anhui Expressway Co. Ltd. Class H 5,514,097 8,755
  Shanghai Chicmax Cosmetic Co. Ltd. Class H 792,300 8,738
  Shanghai Zhangjiang High-Tech Park Development Co. Ltd. Class A 1,387,496 8,694
10

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Zhejiang Dahua Technology Co. Ltd. Class A 2,999,613 8,626
  Founder Securities Co. Ltd. Class A 7,445,703 8,616
* Vnet Group Inc. ADR 828,378 8,615
  China Energy Engineering Corp. Ltd. Class H 57,112,211 8,520
  Nexchip Semiconductor Corp. Class A 1,805,491 8,512
  China Coal Energy Co. Ltd. Class A 4,444,162 8,484
  Tongling Nonferrous Metals Group Co. Ltd. Class A 11,271,600 8,374
*,1,3 New Horizon Health Ltd. 4,595,000 8,361
  Anhui Gujing Distillery Co. Ltd. Class A 369,281 8,360
  Shenzhen Kinwong Electronic Co. Ltd. Class A 814,056 8,300
  TongFu Microelectronics Co. Ltd. Class A 1,388,579 8,300
  China Zheshang Bank Co. Ltd. Class A 19,627,610 8,250
* Biwin Storage Technology Co. Ltd. Class A 447,980 8,246
  Ningbo Deye Technology Co. Ltd. Class A 787,396 8,244
  China Jushi Co. Ltd. Class A 3,577,658 8,242
  Sunwoda Electronic Co. Ltd. Class A 1,630,380 8,219
  Shenzhen Salubris Pharmaceuticals Co. Ltd. Class A 980,753 8,219
  Giant Network Group Co. Ltd. Class A 1,661,500 8,196
  Huizhou Desay Sv Automotive Co. Ltd. Class A 489,800 8,172
  CIMC Enric Holdings Ltd. 8,429,019 8,141
1 Qingdao Port International Co. Ltd. Class H 8,881,915 8,119
  Huayu Automotive Systems Co. Ltd. Class A 2,798,393 8,036
  Sinopec Shanghai Petrochemical Co. Ltd. Class H 46,772,131 8,005
* Sunshine Lake Pharma Co. Ltd. Class H 1,356,178 7,993
  COSCO SHIPPING Development Co. Ltd. Class H 53,460,927 7,975
  Shannon Semiconductor Technology Co. Ltd. Class A 425,713 7,919
  China Resources Microelectronics Ltd. Class A 1,104,893 7,882
* Hua Hong Semiconductor Ltd. Class A 448,323 7,882
  Sinofert Holdings Ltd. 40,194,032 7,860
  Yihai Kerry Arawana Holdings Co. Ltd. Class A 1,728,363 7,810
* Guangdong HEC Technology Holding Co. Ltd. Class A 2,583,051 7,810
  Shanghai Putailai New Energy Technology Co. Ltd. Class A 1,897,644 7,797
* Hebei Changshan Biochemical Pharmaceutical Co. Ltd. Class A 833,100 7,765
  Anker Innovations Technology Co. Ltd. Class A 472,160 7,765
* National Silicon Industry Group Co. Ltd. Class A 2,403,131 7,724
  Tianshan Aluminum Group Co. Ltd. Class A 4,110,870 7,720
  Industrial Securities Co. Ltd. Class A 7,975,451 7,719
  China Merchants Expressway Network & Technology Holdings Co. Ltd. Class A 5,328,512 7,686
* COFCO Joycome Foods Ltd. 35,967,000 7,673
  Satellite Chemical Co. Ltd. Class A 3,046,562 7,673
  Shanjin International Gold Co. Ltd. Class A 2,507,333 7,664
  Hundsun Technologies Inc. Class A 1,732,139 7,663
  Sinoma Science & Technology Co. Ltd. Class A 1,572,839 7,660
  Inner Mongolia Xingye Silver&Tin Mining Co. Ltd. Class A 1,779,772 7,635
*,1,2 Hygeia Healthcare Holdings Co. Ltd. 4,529,884 7,611
  Shanghai Fosun Pharmaceutical Group Co. Ltd. Class A 1,853,488 7,603
*,1 CanSino Biologics Inc. Class H 1,267,200 7,534
* QuantumCTek Co. Ltd. Class A 91,994 7,496
  Tsingtao Brewery Co. Ltd. Class A 810,413 7,483
  Dongfang Electric Corp. Ltd. Class A 2,546,011 7,465
* Jiangsu Eastern Shenghong Co. Ltd. Class A 5,729,477 7,449
  Shenzhen Techwinsemi Technology Co. Ltd. Class A 231,280 7,434
  Sharetronic Data Technology Co. Ltd. Class A 323,720 7,383
  Shanghai International Port Group Co. Ltd. Class A 9,402,334 7,379
  YTO Express Group Co. Ltd. Class A 3,058,806 7,355
* Wingtech Technology Co. Ltd. Class A 1,159,831 7,330
  Western Mining Co. Ltd. Class A 2,163,200 7,296
2 Towngas Smart Energy Co. Ltd. 14,521,000 7,280
  Livzon Pharmaceutical Group Inc. Class H 1,808,453 7,273
2 Gushengtang Holdings Ltd. 1,974,500 7,273
* Jinko Solar Co. Ltd. Class A 8,894,378 7,264
  Empyrean Technology Co. Ltd. Class A 426,400 7,255
* Kunlun Tech Co. Ltd. Class A 1,119,187 7,252
* China Vanke Co. Ltd. Class A 8,204,767 7,234
  CSI Solar Co. Ltd. Class A 3,317,915 7,227
  Kingfa Sci & Tech Co. Ltd. Class A 2,536,923 7,213
2 China Resources Beverage Holdings Co. Ltd. 5,329,400 7,211
  Zhejiang Chint Electrics Co. Ltd. Class A 1,779,646 7,176
  Xiamen Tungsten Co. Ltd. Class A 1,428,759 7,174
* Wuhan Guide Infrared Co. Ltd. Class A 3,671,344 7,164
11

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Hengtong Optic-electric Co. Ltd. Class A 2,265,065 7,121
* China Greatwall Technology Group Co. Ltd. Class A 2,984,888 7,103
  Sichuan Road & Bridge Group Co. Ltd. Class A 5,310,905 7,078
  ENN Natural Gas Co. Ltd. Class A 2,576,100 7,069
  LexinFintech Holdings Ltd. ADR 1,463,044 7,052
  Metallurgical Corp. of China Ltd. Class A 14,354,643 7,044
  Zoomlion Heavy Industry Science & Technology Co. Ltd. Class A 6,113,422 7,020
  Hainan Airport Infrastructure Co. Ltd. Class A 10,093,800 7,004
  Mango Excellent Media Co. Ltd. Class A 1,683,529 6,973
  Yunnan Yuntianhua Co. Ltd. Class A 1,724,230 6,971
  Sangfor Technologies Inc. Class A 377,279 6,952
  Inner Mongolia Dian Tou Energy Corp. Ltd. Class A 1,957,009 6,952
  Jiangsu Zhongtian Technology Co. Ltd. Class A 2,915,527 6,942
* China Rare Earth Resources & Technology Co. Ltd. Class A 936,700 6,940
  Henan Shenhuo Coal Industry & Electricity Power Co. Ltd. Class A 1,997,100 6,939
  Shandong Nanshan Aluminum Co. Ltd. Class A 10,699,413 6,932
  Sichuan Kelun Pharmaceutical Co. Ltd. Class A 1,409,112 6,931
  China Lesso Group Holdings Ltd. 12,106,317 6,928
  Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class B 15,939,815 6,919
  Shandong Hualu Hengsheng Chemical Co. Ltd. Class A 1,912,562 6,900
* Tianfeng Securities Co. Ltd. Class A 9,345,260 6,884
  Goldwind Science & Technology Co. Ltd. Class A 3,115,226 6,879
  Chongqing Rural Commercial Bank Co. Ltd. Class A 7,066,900 6,878
  Beijing Jingneng Clean Energy Co. Ltd. Class H 21,535,531 6,872
  Changjiang Securities Co. Ltd. Class A 5,518,610 6,844
  Pharmaron Beijing Co. Ltd. Class A 1,447,508 6,815
  China Tungsten & Hightech Materials Co. Ltd. Class A 2,065,958 6,803
  Ecovacs Robotics Co. Ltd. Class A 540,487 6,796
  Hangzhou Silan Microelectronics Co. Ltd. Class A 1,516,570 6,792
  CGN Power Co. Ltd. Class A 12,250,000 6,784
  Shenzhen Expressway Corp. Ltd. Class H 7,253,170 6,782
2 Fu Shou Yuan International Group Ltd. 17,887,913 6,767
  Hunan Yuneng New Energy Battery Material Co. Ltd. Class A 659,300 6,766
  Hangzhou Chang Chuan Technology Co. Ltd. Class A 574,075 6,747
  Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. Class A 1,224,592 6,717
* Founder Technology Group Corp. Class A 3,863,100 6,700
* Yonyou Network Technology Co. Ltd. Class A 3,052,526 6,699
* Loongson Technology Corp. Ltd. Class A 343,897 6,664
  Shandong Himile Mechanical Science & Technology Co. Ltd. Class A 706,657 6,648
* Chongqing Qianli Technology Co. Ltd. Class A 3,934,900 6,596
  Huaneng Lancang River Hydropower Inc. Class A 4,767,200 6,594
  Hangzhou Tigermed Consulting Co. Ltd. Class A 782,849 6,587
  China BlueChemical Ltd. Class H 21,256,568 6,569
  Yantai Jereh Oilfield Services Group Co. Ltd. Class A 928,924 6,528
1,2 Linklogis Inc. Class B 15,869,500 6,525
  Kingnet Network Co. Ltd. Class A 1,947,732 6,520
2 Huaxin Cement Co. Ltd. Class H 2,883,800 6,475
  Spring Airlines Co. Ltd. Class A 857,136 6,457
  Shenzhen Everwin Precision Technology Co. Ltd. Class A 1,207,212 6,451
  Shenzhen H&T Intelligent Control Co. Ltd. Class A 884,542 6,388
  Zheshang Securities Co. Ltd. Class A 3,896,100 6,365
  ACM Research Shanghai Inc. Class A 254,900 6,360
* Xinjiang Daqo New Energy Co. Ltd. Class A 1,504,722 6,339
2 SSY Group Ltd. 15,787,775 6,302
  Isoftstone Information Technology Group Co. Ltd. Class A 841,100 6,292
* China National Software & Service Co. Ltd. Class A 853,758 6,275
1,2 Blue Moon Group Holdings Ltd. 16,368,000 6,258
  SooChow Securities Co. Ltd. Class A 4,633,019 6,250
  Haisco Pharmaceutical Group Co. Ltd. Class A 782,964 6,238
*,2 Fenbi Ltd. 17,298,500 6,231
  Accelink Technologies Co. Ltd. Class A 704,248 6,223
  Sun Art Retail Group Ltd. 25,598,500 6,221
  Hwatsing Technology Co. Ltd. Class A 321,864 6,212
  Western Superconducting Technologies Co. Ltd. Class A 564,445 6,203
  Chongqing Zhifei Biological Products Co. Ltd. Class A 2,141,976 6,198
2 Tiangong International Co. Ltd. 16,361,224 6,196
  China National Chemical Engineering Co. Ltd. Class A 5,677,522 6,170
  37 Interactive Entertainment Network Technology Group Co. Ltd. Class A 2,108,167 6,155
  China Resources Building Materials Technology Holdings Ltd. 28,271,076 6,148
  Beijing Enlight Media Co. Ltd. Class A 2,579,403 6,148
12

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
*,1 BAIC Motor Corp. Ltd. Class H 23,749,593 6,141
  Shanghai Baosight Software Co. Ltd. Class A 1,892,906 6,119
  Chifeng Jilong Gold Mining Co. Ltd. Class A 1,465,188 6,109
  Sailun Group Co. Ltd. Class A 2,823,475 6,091
  SDIC Capital Co. Ltd. Class A 5,496,828 6,059
  Poly Property Group Co. Ltd. 25,445,038 6,053
* Jiangsu Hoperun Software Co. Ltd. Class A 697,546 6,040
  Citic Pacific Special Steel Group Co. Ltd. Class A 2,944,399 6,039
  China Overseas Grand Oceans Group Ltd. 21,612,142 6,038
  China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. Class A 1,486,164 6,025
  Sinopec Kantons Holdings Ltd. 11,596,075 5,998
  BOE Technology Group Co. Ltd. Class B 16,234,641 5,995
1,2 AsiaInfo Technologies Ltd. 5,160,800 5,995
  Shenzhen New Industries Biomedical Engineering Co. Ltd. Class A 698,741 5,993
* Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. Class A 753,864 5,980
  Sichuan Changhong Electric Co. Ltd. Class A 4,169,838 5,976
* CCOOP Group Co. Ltd. Class A 15,781,100 5,946
  JNBY Design Ltd. 2,559,500 5,937
  Imeik Technology Development Co. Ltd. Class A 263,684 5,930
  Shenzhen Kedali Industry Co. Ltd. Class A 233,800 5,921
  Jiangsu King's Luck Brewery JSC Ltd. Class A 1,083,177 5,909
2 PAX Global Technology Ltd. 8,605,436 5,896
  Yuanjie Semiconductor Technology Co. Ltd. Class A 82,343 5,878
*,1,2 Yidu Tech Inc. 8,023,200 5,851
  Beijing Tong Ren Tang Co. Ltd. Class A 1,227,694 5,848
  China Great Wall Securities Co. Ltd. Class A 3,758,500 5,844
  Huadian Power International Corp. Ltd. Class A 7,677,040 5,840
  GEM Co. Ltd. Class A 4,859,240 5,816
  Zhejiang Zheneng Electric Power Co. Ltd. Class A 8,008,343 5,808
* United Nova Technology Co. Ltd. Class A 6,585,087 5,805
  Ningbo Joyson Electronic Corp. Class A 1,291,666 5,791
  Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class A 1,563,129 5,789
  SG Micro Corp. Class A 558,951 5,786
* Yunnan Energy New Material Co. Ltd. Class A 846,135 5,771
  Shanghai Allist Pharmaceuticals Co. Ltd. Class A 381,422 5,766
* BAIC BluePark New Energy Technology Co. Ltd. Class A 4,909,412 5,763
  Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class H 2,389,825 5,761
  Ningbo Orient Wires & Cables Co. Ltd. Class A 645,799 5,690
  Zhongtai Securities Co. Ltd. Class A 5,798,370 5,690
  LB Group Co. Ltd. Class A 2,194,367 5,681
* Dosilicon Co. Ltd. Class A 432,484 5,671
  Shanghai RAAS Blood Products Co. Ltd. Class A 5,970,999 5,659
* JA Solar Technology Co. Ltd. Class A 2,859,620 5,658
  Yealink Network Technology Corp. Ltd. Class A 1,115,346 5,641
  Sichuan Expressway Co. Ltd. Class H 8,537,276 5,618
  Changchun High-Tech Industry Group Co. Ltd. Class A 354,368 5,594
1,2 Angelalign Technology Inc. 680,993 5,590
*,2 Qunabox Group Ltd. 1,186,454 5,590
  Guangshen Railway Co. Ltd. Class H 19,007,093 5,578
1 China East Education Holdings Ltd. 6,619,500 5,565
  JL Mag Rare-Earth Co. Ltd. Class A 1,011,072 5,564
  Shanghai Pharmaceuticals Holding Co. Ltd. Class A 2,204,797 5,558
  Guangdong Provincial Expressway Development Co. Ltd. Class B 5,049,436 5,549
  Guolian Minsheng Securities Co. Ltd. Class A 3,573,100 5,531
  China Foods Ltd. 10,359,153 5,530
  Shenghe Resources Holding Co. Ltd. Class A 1,693,030 5,529
* Maanshan Iron & Steel Co. Ltd. Class H 16,828,000 5,524
* Remegen Co. Ltd. Class A 396,100 5,517
* Talkweb Information System Co. Ltd. Class A 1,143,656 5,515
  Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. Class A 7,546,800 5,484
  Lee & Man Paper Manufacturing Ltd. 15,416,000 5,449
  XTC New Energy Materials Xiamen Co. Ltd. Class A 465,693 5,442
  New Hope Liuhe Co. Ltd. Class A 3,975,945 5,439
* Shanghai Stonehill Technology Co. Ltd. Class A 4,876,354 5,434
  Shanxi Lu'an Environmental Energy Development Co. Ltd. Class A 2,607,202 5,424
  Han's Laser Technology Industry Group Co. Ltd. Class A 935,823 5,418
  Smartsens Technology Shanghai Co. Ltd. Class A 361,432 5,405
  Huafon Chemical Co. Ltd. Class A 4,264,901 5,380
* Trina Solar Co. Ltd. Class A 1,877,546 5,374
  Kangji Medical Holdings Ltd. 4,634,000 5,366
13

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Jinduicheng Molybdenum Co. Ltd. Class A 2,536,040 5,357
  Shenzhen Megmeet Electrical Co. Ltd. Class A 500,875 5,356
  Zhejiang Cfmoto Power Co. Ltd. Class A 148,000 5,325
  Bestechnic Shanghai Co. Ltd. Class A 153,591 5,312
  Shenzhen Kaifa Technology Co. Ltd. Class A 1,383,300 5,310
  Yunnan Tin Co. Ltd. Class A 1,590,399 5,300
  CSPC Innovation Pharmaceutical Co. Ltd. Class A 1,063,674 5,296
* Guosheng Securities Inc. Class A 1,795,092 5,290
  Hubei Feilihua Quartz Glass Co. Ltd. Class A 479,224 5,269
* Hopson Development Holdings Ltd. 12,935,093 5,247
  SUPCON Technology Co. Ltd. Class A 712,610 5,241
1 AK Medical Holdings Ltd. 6,899,000 5,218
  Beijing Roborock Technology Co. Ltd. Class A 227,189 5,217
*,1,2 Haichang Ocean Park Holdings Ltd. 55,342,000 5,208
  Ingenic Semiconductor Co. Ltd. Class A 426,616 5,204
* Yonghui Superstores Co. Ltd. Class A 7,914,935 5,201
2 First Tractor Co. Ltd. Class H 5,159,706 5,191
  Haohua Chemical Science & Technology Co. Ltd. Class A 1,161,470 5,175
  Tianshui Huatian Technology Co. Ltd. Class A 3,048,819 5,173
  Neway Valve Suzhou Co. Ltd. Class A 700,209 5,167
* Sensteed Hi-tech Group Class A 8,950,900 5,154
1,2 Everbright Securities Co. Ltd. Class H 4,101,200 5,150
2 China Education Group Holdings Ltd. 13,397,724 5,141
  CNGR Advanced Material Co. Ltd. Class A 793,240 5,133
* OFILM Group Co. Ltd. Class A 2,951,125 5,120
  Yangzhou Yangjie Electronic Technology Co. Ltd. Class A 522,347 5,119
  Shenergy Co. Ltd. Class A 4,420,059 5,114
  CGN New Energy Holdings Co. Ltd. 14,442,000 5,111
  Shanxi Coking Coal Energy Group Co. Ltd. Class A 4,965,865 5,111
  Hangzhou First Applied Material Co. Ltd. Class A 2,313,626 5,107
*,2 Xinte Energy Co. Ltd. Class H 5,108,000 5,097
  Xinhua Winshare Publishing & Media Co. Ltd. Class H 3,794,000 5,093
  Universal Scientific Industrial Shanghai Co. Ltd. Class A 1,490,490 5,045
  Gan & Lee Pharmaceuticals Co. Ltd. Class A 527,700 5,036
*,1,2 Hangzhou SF Intra-City Industrial Co. Ltd. Class H 3,126,000 5,030
  Yangtze Optical Fibre & Cable Joint Stock Ltd. Co. Class A 421,360 5,015
  Wanxiang Qianchao Co. Ltd. Class A 2,837,279 5,011
  Guoyuan Securities Co. Ltd. Class A 4,065,099 5,008
  Beijing New Building Materials plc Class A 1,496,197 5,000
  Shenzhen Capchem Technology Co. Ltd. Class A 669,420 4,995
  Tong Ren Tang Technologies Co. Ltd. Class H 8,343,132 4,979
  China XD Electric Co. Ltd. Class A 4,414,107 4,949
  APT Medical Inc. Class A 127,379 4,944
  Raytron Technology Co. Ltd. Class A 423,045 4,940
* Gaotu Techedu Inc. ADR 1,726,078 4,937
  Dongxing Securities Co. Ltd. Class A 2,767,414 4,928
* Asia - Potash International Investment Guangzhou Co. Ltd. Class A 839,250 4,926
  JCHX Mining Management Co. Ltd. Class A 535,369 4,921
  Caitong Securities Co. Ltd. Class A 4,066,065 4,916
2 China Resources Medical Holdings Co. Ltd. 11,274,789 4,899
  Sinomine Resource Group Co. Ltd. Class A 618,772 4,897
  NetDragon Websoft Holdings Ltd. 3,132,138 4,893
  Goneo Group Co. Ltd. Class A 796,502 4,890
* Angang Steel Co. Ltd. Class H 18,718,652 4,887
  Shenzhen Goodix Technology Co. Ltd. Class A 422,604 4,884
  GalaxyCore Inc. Class A 2,176,120 4,883
  Maxscend Microelectronics Co. Ltd. Class A 464,857 4,878
  All Winner Technology Co. Ltd. Class A 757,259 4,876
  Yuexiu Transport Infrastructure Ltd. 8,894,501 4,861
  Tianli International Holdings Ltd. 15,709,741 4,850
  Jiangsu Xinquan Automotive Trim Co. Ltd. Class A 445,400 4,842
2 China Modern Dairy Holdings Ltd. 30,883,299 4,812
  Shenzhen Sunway Communication Co. Ltd. Class A 956,949 4,808
  Bank of Changsha Co. Ltd. Class A 3,568,288 4,802
  Shanghai BOCHU Electronic Technology Corp. Ltd. Class A 249,484 4,801
  Shanghai Mechanical & Electrical Industry Co. Ltd. Class B 3,636,957 4,799
  Shandong Sun Paper Industry JSC Ltd. Class A 2,383,300 4,764
  Hangcha Group Co. Ltd. Class A 1,178,212 4,760
* ASR Microelectronics Co. Ltd. Class A 362,476 4,760
  Western Securities Co. Ltd. Class A 3,940,319 4,759
14

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
2 Ming Yuan Cloud Group Holdings Ltd. 11,192,000 4,754
  Hunan Valin Steel Co. Ltd. Class A 5,854,000 4,751
  Baiyin Nonferrous Group Co. Ltd. Class A 6,385,400 4,751
* Amlogic Shanghai Co. Ltd. Class A 392,642 4,746
  BOC International China Co. Ltd. Class A 2,394,727 4,735
* Skyverse Technology Co. Ltd. Class A 296,396 4,722
  Zhejiang Rongtai Electric Material Co. Ltd. Class A 334,400 4,722
  Beijing Tiantan Biological Products Corp. Ltd. Class A 1,810,721 4,690
* BeOne Medicines Ltd. Class A 111,725 4,677
  ZMJ Group Co. Ltd. Class A 1,375,325 4,677
  Hoshine Silicon Industry Co. Ltd. Class A 670,820 4,677
* Shijiazhuang Changshan BeiMing Technology Co. Ltd. Class A 1,441,275 4,675
  Guanghui Energy Co. Ltd. Class A 6,298,915 4,666
  Hangzhou GreatStar Industrial Co. Ltd. 1,075,600 4,661
*,1,2 Ocumension Therapeutics 4,347,715 4,658
  FinVolution Group ADR 760,745 4,648
  Shenzhen Fortune Trend Technology Co. Ltd. Class A 229,913 4,640
  Hubei Dinglong Co. Ltd. Class A 930,908 4,638
  RoboTechnik Intelligent Technology Co. Ltd. Class A 147,200 4,630
* TCL Zhonghuan Renewable Energy Technology Co. Ltd. Class A 3,457,000 4,598
  Jiangsu Yoke Technology Co. Ltd. Class A 422,100 4,584
  Youngor Fashion Co. Ltd. Class A 4,346,180 4,583
  Yunnan Copper Co. Ltd. Class A 1,806,500 4,583
  Hengdian Group DMEGC Magnetics Co. Ltd. Class A 1,539,700 4,582
  Beijing Easpring Material Technology Co. Ltd. Class A 470,600 4,566
  Shenzhen Fastprint Circuit Tech Co. Ltd. Class A 1,517,200 4,556
  Zhejiang Wanfeng Auto Wheel Co. Ltd. Class A 1,893,766 4,528
*,1 China Bohai Bank Co. Ltd. Class H 34,462,490 4,521
* Sichuan Huafeng Technology Co. Ltd. Class A 420,543 4,521
*,1,2 Bairong Inc. Class B 3,567,500 4,517
* Shenzhen Infogem Technologies Co. Ltd. Class A 677,080 4,514
  Zhejiang Crystal-Optech Co. Ltd. Class A 1,284,292 4,508
* Orbbec Inc. Class A 366,921 4,501
  Wintime Energy Group Co. Ltd. Class A 19,876,200 4,498
2 Central China Securities Co. Ltd. Class H 13,549,000 4,494
  Cathay Biotech Inc. Class A 628,996 4,493
  Leo Group Co. Ltd. Class A 5,976,111 4,480
  Changzhou Xingyu Automotive Lighting Systems Co. Ltd. Class A 245,518 4,477
  Bank of Suzhou Co. Ltd. Class A 3,850,770 4,477
* Maanshan Iron & Steel Co. Ltd. Class A 7,840,392 4,474
  Huaibei Mining Holdings Co. Ltd. Class A 2,393,100 4,467
  Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. Class A 881,015 4,462
  Cinda Securities Co. Ltd. Class A 1,654,300 4,446
1,2 Maoyan Entertainment 5,196,400 4,444
  Humanwell Healthcare Group Co. Ltd. Class A 1,495,407 4,441
* Xiangcai Co. Ltd. Class A 2,450,900 4,437
  Anji Microelectronics Technology Shanghai Co. Ltd. Class A 160,148 4,432
  Health & Happiness H&H International Holdings Ltd. 2,844,451 4,425
  Tongkun Group Co. Ltd. Class A 2,202,499 4,403
* Quzhou Xin'an Development Co. Ltd. Class A 7,235,854 4,398
  China Railway Signal & Communication Corp. Ltd. Class A 5,885,038 4,392
  Yunnan Chihong Zinc&Germanium Co. Ltd. Class A 4,631,162 4,390
  Oriental Pearl Group Co. Ltd. Class A 3,203,389 4,373
  Shenzhen Woer Heat-Shrinkable Material Co. Ltd. Class A 1,124,624 4,371
  Glarun Technology Co. Ltd. Class A 1,088,707 4,370
  Beijing Yanjing Brewery Co. Ltd. Class A 2,633,380 4,352
  Hunan Gold Corp. Ltd. Class A 1,423,292 4,336
  Lepu Medical Technology Beijing Co. Ltd. Class A 1,700,192 4,332
  Ming Yang Smart Energy Group Ltd. Class A 2,033,106 4,328
  Geovis Technology Co. Ltd. Class A 754,409 4,326
  Fulin Precision Co. Ltd. Class A 1,568,960 4,321
  Zhejiang Weiming Environment Protection Co. Ltd. Class A 1,419,531 4,319
  Hisense Visual Technology Co. Ltd. Class A 1,238,862 4,316
  Hubei Xingfa Chemicals Group Co. Ltd. Class A 1,070,450 4,298
  CITIC Heavy Industries Co. Ltd. Class A 4,062,679 4,291
  Hebei Yangyuan Zhihui Beverage Co. Ltd. Class A 1,085,396 4,289
  Do-Fluoride New Materials Co. Ltd. Class A 1,068,070 4,264
  Meihua Holdings Group Co. Ltd. Class A 2,704,300 4,246
  Shanghai Chlor-Alkali Chemical Co. Ltd. Class B 6,349,390 4,241
*,2 Skyworth Group Ltd. 8,365,212 4,239
15

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Jiangsu Financial Leasing Co. Ltd. Class A 4,939,690 4,237
  Nanjing Iron & Steel Co. Ltd. Class A 5,732,200 4,231
  Fujian Wanchen Biotechnology Group Co. Ltd. Class A 169,700 4,214
  Angel Yeast Co. Ltd. Class A 771,781 4,212
  Zhejiang Sanmei Chemical Industry Co. Ltd. Class A 535,300 4,206
  DHC Software Co. Ltd. Class A 2,893,900 4,204
2 China Risun Group Ltd. 13,947,000 4,198
  Capital Securities Co. Ltd. Class A 1,432,600 4,188
2 Chervon Holdings Ltd. 1,612,700 4,185
  Guangdong Hongda Holdings Group Co. Ltd. Class A 740,258 4,175
  G-bits Network Technology Xiamen Co. Ltd. Class A 62,800 4,174
  Shanghai Zhenhua Heavy Industries Co. Ltd. Class B 15,271,677 4,170
  GRG Banking Equipment Co. Ltd. Class A 2,300,350 4,155
  Shui On Land Ltd. 45,422,500 4,144
  Guangzhou Automobile Group Co. Ltd. Class A 3,758,500 4,139
  COFCO Sugar Holding Co. Ltd. Class A 1,880,549 4,134
  Perfect World Co. Ltd. Class A 1,708,810 4,116
  Shenzhen Energy Group Co. Ltd. Class A 4,162,270 4,114
  Zhongshan Broad Ocean Motor Co. Ltd. Class A 2,387,100 4,114
  Huaxin Cement Co. Ltd. Class A 1,354,664 4,111
  Zhejiang Longsheng Group Co. Ltd. Class A 2,773,472 4,107
  Shenzhen Sunlord Electronics Co. Ltd. Class A 764,078 4,104
  Shanghai Fudan Microelectronics Group Co. Ltd. Class A 461,079 4,095
  Sinolink Securities Co. Ltd. Class A 2,942,400 4,085
  Inner Mongolia ERDOS Resources Co. Ltd. Class A 2,626,614 4,085
  Huali Industrial Group Co. Ltd. Class A 490,648 4,079
  Asymchem Laboratories Tianjin Co. Ltd. Class A 295,605 4,075
  Henan Shijia Photons Technology Co. Ltd. Class A 424,197 4,074
  CSG Holding Co. Ltd. Class B 17,434,095 4,060
* SICC Co. Ltd. Class A 411,112 4,040
2 Xinyi Energy Holdings Ltd. 24,736,600 4,039
  COSCO SHIPPING Energy Transportation Co. Ltd. Class A 2,136,700 4,038
  Weifu High-Technology Group Co. Ltd. Class B 2,125,855 4,031
  Nanjing Securities Co. Ltd. Class A 3,371,310 4,015
  Hainan Jinpan Smart Technology Co. Ltd. Class A 415,898 4,001
  Wuhan Dameng Database Co. Ltd. Class A 101,142 4,000
  Hainan Strait Shipping Co. Ltd. Class A 2,100,555 3,996
  Digital China Group Co. Ltd. Class A 659,901 3,995
  Shanghai Moons' Electric Co. Ltd. Class A 387,100 3,994
  EverProX Technologies Co. Ltd. Class A 284,900 3,992
* Everdisplay Optronics Shanghai Co. Ltd. Class A 10,390,622 3,972
  China Shineway Pharmaceutical Group Ltd. 3,675,885 3,971
  First Capital Securities Co. Ltd. Class A 3,649,420 3,971
* Shanghai DZH Ltd. Class A 1,945,300 3,970
  Flat Glass Group Co. Ltd. Class A 1,522,900 3,965
* Sichuan Hongda Co. Ltd. Class A 2,573,900 3,953
* Ningbo Shanshan Co. Ltd. Class A 2,043,858 3,950
  Zhende Medical Co. Ltd. Class A 295,000 3,941
* Hainan Meilan International Airport Co. Ltd. Class H 2,912,000 3,937
  Shenzhen SC New Energy Technology Corp. Class A 296,570 3,937
  Ginlong Technologies Co. Ltd. Class A 348,275 3,936
  Zhejiang Yinlun Machinery Co. Ltd. Class A 732,600 3,935
  Jiangxi Lianchuang Optoelectronic Science & Technology Co. Ltd. Class A 444,276 3,932
* Pacific Securities Co. Ltd. Class A 6,208,755 3,927
  Shanghai Jinjiang International Hotels Co. Ltd. Class B 2,944,692 3,916
  Hangzhou Binjiang Real Estate Group Co. Ltd. Class A 2,617,717 3,911
  AVICOPTER plc Class A 771,802 3,911
2 Zhongyu Energy Holdings Ltd. 9,717,000 3,900
  Yifeng Pharmacy Chain Co. Ltd. Class A 1,135,948 3,900
  Ningbo Sanxing Medical Electric Co. Ltd. Class A 1,234,936 3,889
* Siasun Robot & Automation Co. Ltd. Class A 1,499,651 3,888
  Olympic Circuit Technology Co. Ltd. Class A 664,000 3,885
1,2 Sunac Services Holdings Ltd. 19,450,903 3,878
* Sohu.com Ltd. ADR 259,796 3,871
  Qingdao TGOOD Electric Co. Ltd. Class A 947,216 3,865
  Bethel Automotive Safety Systems Co. Ltd. Class A 547,288 3,863
  Anhui Zhongding Sealing Parts Co. Ltd. Class A 1,198,565 3,863
  China Baoan Group Co. Ltd. Class A 2,396,736 3,861
  Beijing Huafeng Test & Control Technology Co. Ltd. Class A 137,240 3,860
  Sieyuan Electric Co. Ltd. Class A 208,840 3,855
16

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Qilu Bank Co. Ltd. Class A 4,522,372 3,850
  Leader Harmonious Drive Systems Co. Ltd. Class A 167,823 3,849
  Suzhou Maxwell Technologies Co. Ltd. Class A 259,385 3,837
  Intsig Information Co. Ltd. Class A 125,874 3,837
  Newland Digital Technology Co. Ltd. Class A 989,273 3,832
* Ninestar Corp. Class A 1,256,227 3,831
  Skshu Paint Co. Ltd. Class A 617,493 3,828
  Zhejiang Huahai Pharmaceutical Co. Ltd. Class A 1,412,947 3,812
  Thunder Software Technology Co. Ltd. Class A 394,227 3,811
* Shanghai Junshi Biosciences Co. Ltd. Class A 670,708 3,810
1 Joinn Laboratories China Co. Ltd. Class H 1,379,463 3,810
  North Copper Co. Ltd. Class A 1,723,100 3,809
* Seazen Holdings Co. Ltd. Class A 1,907,973 3,809
  Dajin Heavy Industry Co. Ltd. Class A 538,200 3,806
  Dong-E-E-Jiao Co. Ltd. Class A 568,767 3,796
  Qingdao Huicheng Environmental Technology Group Co. Ltd. Class A 174,880 3,789
  Datang International Power Generation Co. Ltd. Class A 7,403,121 3,788
  Zhuzhou CRRC Times Electric Co. Ltd. Class A 516,460 3,788
  Loncin Motor Co. Ltd. Class A 1,978,850 3,788
  Fiberhome Telecommunication Technologies Co. Ltd. Class A 1,105,538 3,776
* Hangzhou Iron & Steel Co. Class A 2,937,786 3,769
  Guangzhou Yuexiu Capital Holdings Group Co. Ltd. Class A 3,311,570 3,768
  Giantec Semiconductor Corp. Class A 161,378 3,763
  Liaoning Port Co. Ltd. Class A 15,634,408 3,758
  Huaan Securities Co. Ltd. Class A 4,031,141 3,757
* Bluefocus Intelligent Communications Group Co. Ltd. Class A 3,635,786 3,755
  Chengdu Kanghong Pharmaceutical Group Co. Ltd. Class A 788,350 3,751
  SPIC Industry-Finance Holdings Co. Ltd. Class A 4,040,144 3,749
  Anhui Yingliu Electromechanical Co. Ltd. Class A 666,680 3,737
  Shan Xi Hua Yang Group New Energy Co. Ltd. Class A 3,318,562 3,732
  Wuchan Zhongda Group Co. Ltd. Class A 4,520,415 3,717
  Jiangsu Nata Opto-electronic Material Co. Ltd. Class A 668,176 3,714
  China Film Group Co. Ltd. Class A 1,811,605 3,708
  Southwest Securities Co. Ltd. Class A 5,559,687 3,703
  Ningbo Huaxiang Electronic Co. Ltd. Class A 793,800 3,701
* Dizal Jiangsu Pharmaceutical Co. Ltd. Class A 412,457 3,697
  Xiamen Amoytop Biotech Co. Ltd. Class A 358,381 3,677
  Shijiazhuang Yiling Pharmaceutical Co. Ltd. Class A 1,462,669 3,677
  Delton Technology Guangzhou Inc. Class A 351,900 3,670
  Shenzhen Zhaowei Machinery & Electronic Co. Ltd. Class A 220,000 3,665
* Shenzhen Intellifusion Technologies Co. Ltd. Class A 336,794 3,662
* Yanlord Land Group Ltd. 6,670,760 3,660
  Sunresin New Materials Co. Ltd. Class A 468,748 3,659
  Espressif Systems Shanghai Co. Ltd. Class A 155,509 3,654
* Shanghai Aiko Solar Energy Co. Ltd. Class A 1,645,034 3,651
* Tsinghua Tongfang Co. Ltd. Class A 2,976,608 3,651
  Yuexiu REIT 31,134,544 3,644
  Beijing Jingneng Power Co. Ltd. Class A 5,358,303 3,631
* J-Yuan Trust Co. Ltd. Class A 8,606,000 3,631
  Zhuhai CosMX Battery Co. Ltd. Class A 963,347 3,631
  Juneyao Airlines Co. Ltd. Class A 1,988,669 3,623
  Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class B 4,751,858 3,608
  Shenzhen Huaqiang Industry Co. Ltd. Class A 921,536 3,599
* Shanghai Electric Wind Power Group Co. Ltd. Class A 1,238,529 3,592
  Guangzhou Haige Communications Group Inc. Co. Class A 2,182,647 3,591
  Jilin Aodong Pharmaceutical Group Co. Ltd. Class A 1,188,971 3,589
  Hualan Biological Engineering Inc. Class A 1,581,223 3,583
  Tianjin Pharmaceutical Da Re Tang Group Corp. Ltd. Class A 563,829 3,579
  CIG Shanghai Co. Ltd. Class A 248,100 3,577
* Kangmei Pharmaceutical Co. Ltd. Class A 12,350,700 3,575
  Oppein Home Group Inc. Class A 474,648 3,570
  Kehua Data Co. Ltd. Class A 464,400 3,568
  HLA Group Corp. Ltd. Class A 4,080,510 3,552
  State Grid Yingda Co. Ltd. Class A 3,912,447 3,549
  COFCO Capital Holdings Co. Ltd. Class A 1,986,357 3,547
  Jiangsu Yangnong Chemical Co. Ltd. Class A 386,100 3,528
  Ningbo Zhenyu Technology Co. Ltd. Class A 150,912 3,514
  Fujian Funeng Co. Ltd. Class A 2,467,473 3,508
  Sealand Securities Co. Ltd. Class A 5,449,495 3,501
* Pangang Group Vanadium Titanium & Resources Co. Ltd. Class A 8,238,900 3,499
17

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Wangsu Science & Technology Co. Ltd. Class A 2,149,657 3,498
  Xiamen Faratronic Co. Ltd. Class A 206,363 3,492
  Chongqing Zongshen Power Machinery Co. Ltd. Class A 1,036,600 3,473
* Jiangxi Zhengbang Technology Co. Ltd. Class A 8,472,300 3,467
  Advanced Technology & Materials Co. Ltd. Class A 1,160,300 3,465
  Hisense Home Appliances Group Co. Ltd. Class A 962,651 3,464
  Shenzhen MTC Co. Ltd. Class A 4,004,555 3,463
* AVIC Chengdu UAS Co. Ltd. Class A 507,816 3,458
  Zhejiang Changsheng Sliding Bearings Co. Ltd. Class A 281,200 3,457
  Shanghai Belling Co. Ltd. Class A 718,144 3,452
  Konfoong Materials International Co. Ltd. Class A 261,176 3,451
  China Zhenhua Group Science & Technology Co. Ltd. Class A 486,242 3,447
  Xiamen C & D Inc. Class A 2,403,500 3,443
  Chongqing Brewery Co. Ltd. Class A 455,451 3,439
  Anhui Yingjia Distillery Co. Ltd. Class A 576,043 3,431
* Henan Zhongfu Industry Co. Ltd. Class A 3,586,700 3,431
  Guangzhou Shiyuan Electronic Technology Co. Ltd. Class A 582,484 3,418
* Suzhou Zelgen Biopharmaceutical Co. Ltd. Class A 233,377 3,409
  Zhejiang JIULI Hi-tech Metals Co. Ltd. Class A 948,950 3,404
  Inner Mongolia MengDian HuaNeng Thermal Power Corp. Ltd. Class A 5,634,729 3,390
  Intco Medical Technology Co. Ltd. Class A 609,870 3,389
  Yantai Changyu Pioneer Wine Co. Ltd. Class B 3,087,201 3,381
  Advanced Fiber Resources Zhuhai Ltd. Class A 228,455 3,358
  BrightGene Bio-Medical Technology Co. Ltd. Class A 414,069 3,347
  Shanxi Securities Co. Ltd. Class A 3,717,220 3,345
  YongXing Special Materials Technology Co. Ltd. Class A 483,578 3,344
  Keda Industrial Group Co. Ltd. Class A 1,814,900 3,344
  Concord New Energy Group Ltd. 67,444,071 3,342
  China Railway Construction Heavy Industry Corp. Ltd. Class A 4,435,503 3,342
* Youdao Inc. ADR 318,352 3,340
  Livzon Pharmaceutical Group Inc. Class A 646,481 3,339
  Shanghai Huace Navigation Technology Ltd. Class A 737,156 3,323
* MGI Tech Co. Ltd. Class A 358,556 3,319
  Zhejiang Orient Financial Holdings Group Co. Ltd. Class A 3,289,844 3,318
* Wanda Film Holding Co. Ltd. Class A 2,128,450 3,308
  Red Avenue New Materials Group Co. Ltd. Class A 570,700 3,308
  Henan Pinggao Electric Co. Ltd. Class A 1,332,614 3,308
  Xuji Electric Co. Ltd. Class A 889,400 3,307
2 BOE Varitronix Ltd. 5,158,813 3,305
  Jinneng Holding Shanxi Coal Industry Co. Ltd. Class A 1,558,935 3,296
  TangShan Port Group Co. Ltd. Class A 5,882,883 3,284
  Qingdao Port International Co. Ltd. Class A 2,735,300 3,279
  Inner Mongolia Berun Chemical Co. Ltd. Class A 3,448,132 3,275
* Sinopec Oilfield Service Corp. Class A 10,385,000 3,273
  Jiangsu Changshu Rural Commercial Bank Co. Ltd. Class A 3,299,239 3,271
  Nantong Jianghai Capacitor Co. Ltd. Class A 814,808 3,270
* Qi An Xin Technology Group Inc. Class A 594,720 3,264
  Guangdong Dongfang Precision Science & Technology Co. Ltd. Class A 1,220,832 3,263
  China Hainan Rubber Industry Group Co. Ltd. Class A 4,107,000 3,259
  Jason Furniture Hangzhou Co. Ltd. Class A 750,513 3,251
  China Yongda Automobiles Services Holdings Ltd. 14,801,652 3,250
1,2 Medlive Technology Co. Ltd. 2,396,500 3,249
* Beiqi Foton Motor Co. Ltd. Class A 7,699,385 3,249
  Ruijie Networks Co. Ltd. Class A 311,440 3,248
*,2 Shenzhen Investment Ltd. 30,022,949 3,245
  Ningbo Zhoushan Port Co. Ltd. Class A 6,137,963 3,241
  China National Medicines Corp. Ltd. Class A 773,038 3,238
  Hangzhou Oxygen Plant Group Co. Ltd. Class A 830,950 3,227
  Shanghai Bairun Investment Holding Group Co. Ltd. Class A 910,024 3,221
  AECC Aero-Engine Control Co. Ltd. Class A 1,216,500 3,209
  Joinn Laboratories China Co. Ltd. Class A 617,124 3,204
  Hongta Securities Co. Ltd. Class A 2,599,280 3,203
  Minmetals Capital Co. Ltd. Class A 3,845,560 3,202
* ApicHope Pharmaceutical Group Co. Ltd. 405,900 3,193
  Beijing Sinnet Technology Co. Ltd. Class A 1,664,946 3,191
  Joincare Pharmaceutical Group Industry Co. Ltd. Class A 1,866,165 3,191
  Heilongjiang Agriculture Co. Ltd. Class A 1,569,405 3,187
  Luxi Chemical Group Co. Ltd. Class A 1,678,308 3,180
  AIMA Technology Group Co. Ltd. Class A 690,603 3,174
  Jointown Pharmaceutical Group Co. Ltd. Class A 4,425,020 3,172
18

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Beijing Ultrapower Software Co. Ltd. Class A 1,853,768 3,170
  Zhejiang Dingli Machinery Co. Ltd. Class A 424,448 3,170
  Shijiazhuang Shangtai Technology Co. Ltd. Class A 226,800 3,169
  Jiangsu Leili Motor Co. Ltd. Class A 410,600 3,164
  Dazhong Mining Co. Ltd. 1,151,900 3,159
  Anhui XDLK Microsystem Corp. Ltd. Class A 348,650 3,155
  Beijing Sifang Automation Co. Ltd. Class A 796,339 3,152
  Eastern Air Logistics Co. Ltd. Class A 1,399,391 3,147
  Beijing Capital Eco-Environment Protection Group Co. Ltd. Class A 7,008,675 3,143
  Offshore Oil Engineering Co. Ltd. Class A 4,103,670 3,142
  Bloomage Biotechnology Corp. Ltd. Class A 414,001 3,141
* Hangzhou Lion Microelectronics Co. Ltd. Class A 636,925 3,137
  STO Express Co. Ltd. Class A 1,436,275 3,126
* Sinomach Heavy Equipment Group Co. Ltd. Class A 6,280,300 3,125
  Kingsemi Co. Ltd. Class A 185,209 3,124
  BBMG Corp. Class H 29,585,781 3,121
  Shenzhen SED Industry Co. Ltd. Class A 1,070,400 3,120
* Shanxi Taigang Stainless Steel Co. Ltd. Class A 5,254,700 3,110
  Jiangsu Nhwa Pharmaceutical Co. Ltd. Class A 875,996 3,101
  Hengyi Petrochemical Co. Ltd. Class A 3,291,000 3,100
* Tonghua Golden-Horse Pharmaceutical Industry Co. Ltd. Class A 850,200 3,099
* Suzhou Novosense Microelectronics Co. Ltd. Class A 128,090 3,097
  Quectel Wireless Solutions Co. Ltd. Class A 232,330 3,093
  Kunshan Kinglai Hygienic Materials Co. Ltd. Class A 358,400 3,088
* Shandong Hontron Aluminum Industry Holding Co. Ltd. 1,070,500 3,086
  Winner Medical Co. Ltd. Class A 530,105 3,078
  Shaanxi Energy Investment Co. Ltd. Class A 2,226,167 3,077
  Zhefu Holding Group Co. Ltd. Class A 5,323,890 3,074
  DBG Technology Co. Ltd. Class A 709,280 3,073
*,1 AInnovation Technology Group Co. Ltd. Class H 3,562,100 3,072
  Tibet Huayu Mining Co. Ltd. Class A 731,700 3,063
  Zhongshan Public Utilities Group Co. Ltd. Class A 1,754,836 3,062
* Jianshe Industry Group Yunnan Co. Ltd. Class A 749,800 3,061
  Grandblue Environment Co. Ltd. Class A 774,060 3,060
  CNOOC Energy Technology & Services Ltd. Class A 5,575,300 3,058
  Autel Intelligent Technology Corp. Ltd. Class A 563,334 3,052
  Canmax Technologies Co. Ltd. Class A 712,075 3,043
* Vantone Neo Development Group Co. Ltd. Class A 1,751,010 3,041
  Shanghai Lingang Holdings Corp. Ltd. Class A 1,914,721 3,041
  Shanghai Construction Group Co. Ltd. Class A 7,670,773 3,040
* Guangzhou Great Power Energy & Technology Co. Ltd. Class A 432,249 3,037
  Tasly Pharmaceutical Group Co. Ltd. Class A 1,398,256 3,037
  POCO Holding Co. Ltd. Class A 275,580 3,028
  Huaming Power Equipment Co. Ltd. Class A 823,743 3,022
  Jiangsu Phoenix Publishing & Media Corp. Ltd. Class A 2,132,607 3,021
  Fangda Carbon New Material Co. Ltd. Class A 3,486,309 3,019
  Beijing Shiji Information Technology Co. Ltd. Class A 2,173,972 3,018
  Xiamen Xiangyu Co. Ltd. Class A 2,585,319 3,018
  Shenzhen Kstar Science & Technology Co. Ltd. Class A 497,504 3,010
  Huaxi Securities Co. Ltd. Class A 2,120,800 3,010
* North Industries Group Red Arrow Co. Ltd. Class A 1,162,043 3,002
  Jiangsu Jiejie Microelectronics Co. Ltd. Class A 739,641 2,999
  Jinan Shengquan Group Share Holding Co. Ltd. Class A 761,600 2,998
  StarPower Semiconductor Ltd. Class A 203,700 2,998
  Shanghai Zhonggu Logistics Co. Ltd. Class A 1,922,856 2,990
  Shanghai M&G Stationery Inc. Class A 757,675 2,982
1,2 A-Living Smart City Services Co. Ltd. Class H 9,350,913 2,975
  Tongling Jingda Special Magnet Wire Co. Ltd. Class A 1,946,363 2,970
* Shenyang Machine Tool Co. Ltd. Class A 2,723,800 2,969
  Shanghai AtHub Co. Ltd. Class A 635,014 2,968
  State Grid Information & Communication Co. Ltd. Class A 1,141,900 2,959
* Shanxi Meijin Energy Co. Ltd. Class A 4,006,823 2,952
  T&S Communications Co. Ltd. Class A 210,400 2,952
  Guangzhou Port Co. Ltd. Class A 6,252,000 2,952
  Shanxi Coal International Energy Group Co. Ltd. Class A 1,901,600 2,951
* China First Heavy Industries Co. Ltd. Class A 6,516,775 2,950
  Meinian Onehealth Healthcare Holdings Co. Ltd. Class A 3,730,400 2,950
  Arcsoft Corp. Ltd. Class A 390,648 2,940
  Sichuan Yahua Industrial Group Co. Ltd. Class A 1,028,500 2,938
  Hydsoft Technology Co. Ltd. Class A 372,600 2,933
19

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Dalian Bio-Chem Co. Ltd. Class A 696,200 2,933
* Chengxin Lithium Group Co. Ltd. Class A 818,074 2,932
  Weihai Guangwei Composites Co. Ltd. Class A 724,577 2,932
  Shanghai Yuyuan Tourist Mart Group Co. Ltd. Class A 3,749,539 2,931
  Guangzhou Baiyun International Airport Co. Ltd. Class A 2,131,813 2,930
  Sichuan New Energy Power Co. Ltd. Class A 1,690,678 2,922
  Betta Pharmaceuticals Co. Ltd. Class A 365,500 2,922
  Hubei Energy Group Co. Ltd. Class A 4,346,145 2,890
  Xiamen International Airport Co. Ltd. Class A 1,212,160 2,885
* Shenzhen Special Economic Zone Real Estate & Properties Group Co. Ltd. Class A 712,900 2,880
  Shuanglin Co. Ltd. Class A 510,960 2,874
  Sinoma International Engineering Co. Class A 2,143,272 2,869
  Shenzhen YUTO Packaging Technology Co. Ltd. Class A 746,599 2,865
*,1,2 JS Global Lifestyle Co. Ltd. 12,498,500 2,864
* CICT Mobile Communication Technology Co. Ltd. Class A 3,109,246 2,862
  Xinfengming Group Co. Ltd. Class A 1,279,551 2,860
  Electric Connector Technology Co. Ltd. Class A 403,805 2,857
  Zhejiang Supor Co. Ltd. Class A 425,319 2,853
  Beijing Teamsun Technology Co. Ltd. Class A 1,060,406 2,851
  Infore Environment Technology Group Co. Ltd. Class A 2,942,026 2,848
*,2 HealthyWay Inc. 3,447,000 2,844
  Jiangsu Azure Corp. Class A 1,053,150 2,844
* IRICO Display Devices Co. Ltd. Class A 3,444,901 2,839
  Songcheng Performance Development Co. Ltd. Class A 2,512,551 2,837
  INESA Intelligent Tech Inc. Class A 1,006,390 2,834
  Anjoy Foods Group Co. Ltd. Class A 272,798 2,834
  Jilin Electric Power Co. Ltd. Class A 3,438,980 2,833
* Pengxin International Mining Co. Ltd. Class A 2,456,000 2,828
  Beijing Shougang Co. Ltd. Class A 4,789,161 2,828
  Fujian Sunner Development Co. Ltd. Class A 1,185,614 2,824
  Hesteel Co. Ltd. Class A 8,004,983 2,824
  Shandong Hi-speed Co. Ltd. Class A 2,150,754 2,821
  Jiangxi Jovo Energy Co. Ltd. Class A 617,500 2,819
* JoulWatt Technology Co. Ltd. Class A 399,651 2,819
  Sunshine Guojian Pharmaceutical Shanghai Co. Ltd. Class A 274,822 2,818
  Beijing United Information Technology Co. Ltd. Class A 704,729 2,815
  Hebei Sinopack Electronic Technology Co. Ltd. Class A 350,522 2,809
  Northeast Securities Co. Ltd. Class A 2,199,858 2,809
  Baimtec Material Co. Ltd. Class A 371,491 2,799
  Tian Di Science & Technology Co. Ltd. Class A 3,329,339 2,797
  JiuGui Liquor Co. Ltd. Class A 312,900 2,797
* DingDong Cayman Ltd. ADR 1,519,531 2,796
* Zhihu Inc. ADR 642,864 2,796
  Hubei Jumpcan Pharmaceutical Co. Ltd. Class A 793,321 2,794
  YUNDA Holding Group Co. Ltd. Class A 2,725,269 2,791
  IKD Co. Ltd. Class A 876,400 2,789
* Bohai Leasing Co. Ltd. Class A 5,550,600 2,789
  Jiangsu Pacific Quartz Co. Ltd. Class A 480,465 2,787
  Guangzhou Development Group Inc. Class A 2,884,471 2,785
  Fibocom Wireless Inc. Class A 725,346 2,783
  People.cn Co. Ltd. Class A 980,094 2,783
  Inner Mongolia ERDOS Resources Co. Ltd. Class B 2,787,422 2,776
  Qingdao East Steel Tower Stock Co. Ltd. Class A 1,116,200 2,770
  Keboda Technology Co. Ltd. Class A 253,381 2,763
* Hytera Communications Corp. Ltd. Class A 1,706,265 2,762
  Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd. Class A 3,562,650 2,762
  Huangshan Tourism Development Co. Ltd. Class B 3,905,203 2,761
  Jizhong Energy Resources Co. Ltd. Class A 3,202,707 2,760
  Guangxi Liugong Machinery Co. Ltd. Class A 1,684,261 2,756
  Guangshen Railway Co. Ltd. Class A 6,401,834 2,753
  By-health Co. Ltd. Class A 1,553,906 2,741
  Autobio Diagnostics Co. Ltd. Class A 507,112 2,741
*,2 Adicon Holdings Ltd. 3,512,917 2,732
  Sinotruk Jinan Truck Co. Ltd. Class A 1,070,339 2,731
* NavInfo Co. Ltd. Class A 2,159,087 2,731
  Guangdong Fenghua Advanced Technology Holding Co. Ltd. Class A 1,145,695 2,726
  China Southern Power Grid Energy Storage Co. Ltd. Class A 1,526,227 2,719
  Guangdong Aofei Data Technology Co. Ltd. Class A 953,508 2,718
  China South Publishing & Media Group Co. Ltd. Class A 1,595,249 2,713
* Beijing BDStar Navigation Co. Ltd. Class A 640,651 2,712
20

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Shenyang Fortune Precision Equipment Co. Ltd. Class A 265,637 2,711
  Sinotrans Ltd. Class A 2,860,365 2,704
  Shandong Linglong Tyre Co. Ltd. Class A 1,249,891 2,703
  Jiangsu Cnano Technology Co. Ltd. Class A 335,051 2,702
* COL Group Co. Ltd. Class A 675,600 2,696
  Castech Inc. Class A 413,840 2,695
  China Resources Double Crane Pharmaceutical Co. Ltd. Class A 993,793 2,690
  Beijing Chunlizhengda Medical Instruments Co. Ltd. Class H 1,099,500 2,683
* Estun Automation Co. Ltd. Class A 757,874 2,682
* Wuhan Jingce Electronic Group Co. Ltd. Class A 253,953 2,682
*,2 Yeahka Ltd. 2,395,200 2,671
* 3peak Inc. Class A 111,788 2,669
  Sichuan Development Lomon Co. Ltd. Class A 1,699,600 2,668
  Bank of Guiyang Co. Ltd. Class A 3,119,727 2,667
  Jiangsu Etern Co. Ltd. Class A 1,269,370 2,664
* Hybio Pharmaceutical Co. Ltd. Class A 896,391 2,659
  Fujian Longking Co. Ltd. Class A 1,122,000 2,659
  Andon Health Co. Ltd. Class A 465,756 2,653
  CECEP Wind-Power Corp. Class A 6,106,510 2,653
  Guizhou Chanhen Chemical Corp. Class A 552,400 2,651
  China Railway Materials Co. Ltd. Class A 7,011,500 2,641
  Shenzhen Forms Syntron Information Co. Ltd. Class A 496,800 2,636
  Sigmastar Technology Ltd. Class A 318,700 2,634
  Ganzhou Teng Yuan Cobalt New Material Co. Ltd. Class A 268,104 2,633
  Hunan Zhongke Electric Co. Ltd. Class A 724,000 2,633
  Zhejiang Hailiang Co. Ltd. Class A 1,627,916 2,633
  Sichuan Swellfun Co. Ltd. Class A 441,808 2,627
  Beibuwan Port Co. Ltd. Class A 2,132,600 2,626
  Liaoning Cheng Da Co. Ltd. Class A 1,459,420 2,616
  Shanghai Chinafortune Co. Ltd. Class A 1,113,761 2,614
  Bank of Qingdao Co. Ltd. Class A 3,590,600 2,614
  China Automotive Engineering Research Institute Co. Ltd. Class A 1,060,541 2,612
  Shenzhen Yinghe Technology Co. Ltd. Class A 620,560 2,612
  Caida Securities Co. Ltd. Class A 2,547,100 2,610
  China Oriental Group Co. Ltd. 15,453,736 2,608
* Antong Holdings Co. Ltd. Class A 4,305,231 2,597
  Shenzhen CECport Technologies Co. Ltd. Class A 691,500 2,595
  Sany Renewable Energy Co. Ltd. Class A 649,903 2,585
  China Coal Xinji Energy Co. Ltd. Class A 2,532,700 2,578
  Western Region Gold Co. Ltd. Class A 668,800 2,577
  Anhui Truchum Advanced Materials & Technology Co. Ltd. Class A 1,374,513 2,576
  Shenyang Xingqi Pharmaceutical Co. Ltd. Class A 228,578 2,575
  Gambol Pet Group Co. Ltd. Class A 251,300 2,572
* Guangxi Huaxi Nonferrous Metal Co. Ltd. Class A 569,400 2,571
  Tinergy Chemical Co. Ltd. Class A 3,274,155 2,568
  Zhejiang Wanma Co. Ltd. Class A 1,015,772 2,565
* Greenland Holdings Corp. Ltd. Class A 10,307,476 2,565
  COSCO SHIPPING Development Co. Ltd. Class A 6,942,676 2,557
* Staidson Beijing Biopharmaceuticals Co. Ltd. Class A 474,719 2,552
* Inner Mongolia Furui Medical Science Co. Ltd. Class A 248,900 2,552
  Walvax Biotechnology Co. Ltd. Class A 1,484,157 2,551
* Shenzhen Overseas Chinese Town Co. Ltd. Class A 7,613,721 2,549
  iRay Group Class A 166,867 2,547
  Shenzhen Kangtai Biological Products Co. Ltd. Class A 1,052,960 2,546
  Jack Technology Co. Ltd. Class A 407,875 2,543
  Pingdingshan Tianan Coal Mining Co. Ltd. Class A 2,128,135 2,543
* Farasis Energy Gan Zhou Co. Ltd. Class A 1,014,445 2,543
1 Zhou Hei Ya International Holdings Co. Ltd. 10,833,904 2,542
  Mloptic Corp. Class A 49,240 2,540
  Chengdu Xingrong Environment Co. Ltd. Class A 2,558,600 2,539
  China Railway Hi-tech Industry Co. Ltd. Class A 2,146,565 2,537
* Jiangxi Special Electric Motor Co. Ltd. Class A 1,593,147 2,534
  Guangdong Provincial Expressway Development Co. Ltd. Class A 1,552,300 2,534
* Sichuan Hebang Biotechnology Co. Ltd. Class A 8,261,303 2,531
  Qingdao Sentury Tire Co. Ltd. Class A 923,600 2,523
  INESA Intelligent Tech Inc. Class B 3,511,519 2,519
* BGI Genomics Co. Ltd. Class A 363,649 2,512
  Ningbo Ronbay New Energy Technology Co. Ltd. Class A 639,165 2,509
* Mabwell Shanghai Bioscience Co. Ltd. Class A 374,762 2,502
  Xi'an Bright Laser Technologies Co. Ltd. Class A 235,378 2,498
21

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Shanghai Longcheer Technology Co. Ltd. 396,100 2,498
  Shanghai Haoyuan Chemexpress Co. Ltd. Class A 222,559 2,494
* Rising Nonferrous Metals Share Co. Ltd. Class A 322,720 2,493
  Huada Automotive Technology Corp. Ltd. Class A 406,500 2,493
1,2 Jiumaojiu International Holdings Ltd. 10,925,000 2,488
* Shandong Iron & Steel Co. Ltd. Class A 10,991,608 2,487
  Shantui Construction Machinery Co. Ltd. Class A 1,528,135 2,486
  Shaanxi International Trust Co. Ltd. Class A 4,854,307 2,485
  Fortior Technology Shenzhen Co. Ltd. Class A 90,933 2,475
  Shede Spirits Co. Ltd. Class A 283,552 2,474
  Goke Microelectronics Co. Ltd. Class A 196,649 2,468
  Shanghai Tunnel Engineering Co. Ltd. Class A 2,656,680 2,466
  Luoyang Xinqianglian Slewing Bearing Co. Ltd. Class A 331,882 2,463
  Yunnan Lincang Xinyuan Germanium Industrial Co. Ltd. Class A 626,595 2,460
  Yili Chuanning Biotechnology Co. Ltd. Class A 1,536,200 2,459
  Guobo Electronics Co. Ltd. Class A 245,244 2,455
  Longshine Technology Group Co. Ltd. Class A 975,625 2,453
* Suzhou Centec Communications Co. Ltd. Class A 142,821 2,449
  MotoMotion China Corp. Class A 184,600 2,449
  Shanghai Vital Microtech Co. Ltd. 935,196 2,442
  Northking Information Technology Co. Ltd. Class A 814,700 2,442
  Ferrotec Anhui Technology Development Co. Ltd. Class A 444,900 2,441
  Anhui Kouzi Distillery Co. Ltd. Class A 534,227 2,434
  Henan Mingtai Al Industrial Co. Ltd. Class A 1,149,676 2,434
  Lakala Payment Co. Ltd. Class A 718,400 2,430
  Yankershop Food Co. Ltd. Class A 235,410 2,429
  Shanghai Sinyang Semiconductor Materials Co. Ltd. Class A 302,933 2,422
  Jiangsu Broadcasting Cable Information Network Corp. Ltd. Class A 4,690,850 2,419
  China Wafer Level CSP Co. Ltd. Class A 584,639 2,415
* Xiangtan Electric Manufacturing Co. Ltd. Class A 1,127,053 2,414
  Wuxi Taiji Industry Ltd. Co. Class A 1,974,951 2,407
*,2 Sinopec Oilfield Service Corp. Class H 24,258,608 2,406
  Winning Health Technology Group Co. Ltd. Class A 1,933,768 2,404
  Keli Sensing Technology Ningbo Co. Ltd. Class A 250,200 2,400
  Yonfer Agricultural Technology Co. Ltd. Class A 1,147,956 2,400
  Hanwei Electronics Group Corp. Class A 303,102 2,397
  An Hui Wenergy Co. Ltd. Class A 2,080,734 2,395
  COSCO SHIPPING Specialized Carriers Co. Ltd. Class A 2,337,601 2,392
  Grinm Advanced Materials Co. Ltd. Class A 748,000 2,387
* Sai Micro Electronics Inc. Class A 693,440 2,386
  Citic Offshore Helicopter Co. Ltd. Class A 768,100 2,386
  Anhui Anke Biotechnology Group Co. Ltd. Class A 1,553,449 2,378
  Hand Enterprise Solutions Co. Ltd. Class A 934,100 2,378
  Apeloa Pharmaceutical Co. Ltd. Class A 1,088,221 2,377
  CITIC Metal Co. Ltd. Class A 1,386,300 2,374
  Innovation New Material Technology Co. Ltd. Class A 3,748,400 2,371
  Zhejiang Daily Digital Culture Group Co. Ltd. Class A 1,239,287 2,370
  Shaanxi Huaqin Technology Industry Co. Ltd. Class A 236,090 2,364
* Tianma Microelectronics Co. Ltd. Class A 1,727,805 2,360
  Shengda Resources Co. Ltd. Class A 713,800 2,358
  Topchoice Medical Corp. Class A 385,591 2,355
  Tonghua Dongbao Pharmaceutical Co. Ltd. Class A 1,855,769 2,354
* Sinocelltech Group Ltd. Class A 311,556 2,348
  China Oilfield Services Ltd. Class A 1,157,900 2,344
  Leyard Optoelectronic Co. Ltd. Class A 2,422,939 2,342
  Guangdong Dowstone Technology Co. Ltd. Class A 675,400 2,341
  Shanghai Huafon Aluminium Corp. Class A 947,500 2,340
* Zhejiang Narada Power Source Co. Ltd. Class A 879,962 2,337
  Yantai China Pet Foods Co. Ltd. Class A 290,600 2,336
* Far East Smarter Energy Co. Ltd. Class A 2,130,760 2,336
  Jiayou International Logistics Co. Ltd. Class A 1,179,916 2,329
  Hebei Hengshui Laobaigan Liquor Co. Ltd. Class A 977,400 2,322
* TianShan Material Co. Ltd. Class A 2,735,820 2,316
  Hangzhou Robam Appliances Co. Ltd. Class A 842,104 2,314
  Sichuan EM Technology Co. Ltd. Class A 825,890 2,314
  CETC Digital Technology Co. Ltd. Class A 602,868 2,307
  Xinxing Ductile Iron Pipes Co. Ltd. Class A 3,791,100 2,307
* Zotye Automobile Co. Ltd. Class A 4,412,600 2,306
1 Shanghai Haohai Biological Technology Co. Ltd. Class H 656,420 2,305
  Fujian Star-net Communication Co. Ltd. Class A 611,781 2,302
22

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Harbin Boshi Automation Co. Ltd. Class A 1,008,732 2,291
* Sichuan Hexie Shuangma Co. Ltd. Class A 801,412 2,291
  Beijing Dabeinong Technology Group Co. Ltd. Class A 3,956,687 2,290
  Shanghai Dazhong Public Utilities Group Co. Ltd. Class A 2,180,100 2,290
  Ningbo Boway Alloy Material Co. Ltd. Class A 744,770 2,289
  Shenzhen Topband Co. Ltd. Class A 1,179,400 2,287
  Chengdu Hi-tech Development Co. Ltd. Class A 324,800 2,285
  Shandong Weifang Rainbow Chemical Co. Ltd. Class A 219,132 2,281
*,3 Jinke Smart Services Group Co. Ltd. Class H 2,573,700 2,277
* TRS Information Technology Corp. Ltd. Class A 786,100 2,275
* Hongyuan Green Energy Co. Ltd. Class A 548,698 2,274
* InventisBio Co. Ltd. Class A 533,088 2,273
  Southchip Semiconductor Technology Shanghai Co. Ltd. Class A 360,668 2,270
  Hangzhou Dptech Technologies Co. Ltd. Class A 676,947 2,267
* RongFa Nuclear Equipment Co. Ltd. Class A 2,041,000 2,267
* Venustech Group Inc. Class A 1,028,200 2,265
  Zhejiang Jingxin Pharmaceutical Co. Ltd. Class A 853,819 2,262
  Beijing Jetsen Technology Co. Ltd. Class A 2,422,335 2,257
  Yunnan Botanee Bio-Technology Group Co. Ltd. Class A 357,400 2,257
  GCL Energy Technology Co. Ltd. Class A 1,499,000 2,255
* Digital China Information Service Group Co. Ltd. Class A 844,543 2,255
  CETC Potevio Science & Technology Co. Ltd. Class A 638,200 2,253
  Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd. Class A 472,387 2,253
  CECEP Solar Energy Co. Ltd. Class A 3,439,930 2,253
* Greatoo Intelligent Equipment Inc. Class A 2,052,300 2,247
  DaShenLin Pharmaceutical Group Co. Ltd. Class A 873,195 2,244
  Hefei Meiya Optoelectronic Technology Inc. Class A 785,470 2,244
  Zhuzhou Hongda Electronics Corp. Ltd. Class A 372,926 2,243
  Shenzhen Senior Technology Material Co. Ltd. Class A 1,120,128 2,242
* Zhejiang Yongtai Technology Co. Ltd. Class A 818,613 2,241
* Guangdong Jia Yuan Technology Shares Co. Ltd. Class A 374,554 2,238
  Shanghai Awinic Technology Co. Ltd. Class A 191,245 2,229
  Zhuzhou Kibing Group Co. Ltd. Class A 2,229,714 2,225
  Central China Securities Co. Ltd. Class A 3,468,500 2,225
  Jiangsu Expressway Co. Ltd. Class A 1,150,698 2,222
* Guocheng Mining Co. Ltd. Class A 870,800 2,221
  Wuhan DR Laser Technology Corp. Ltd. Class A 234,701 2,219
  Dongguan Yiheda Automation Co. Ltd. Class A 549,282 2,219
  Aerospace Intelligent Manufacturing Technology Co. Ltd. Class A 788,700 2,218
* Nanjing Tanker Corp. Class A 4,814,880 2,212
  Shanghai Mechanical & Electrical Industry Co. Ltd. Class A 580,150 2,210
  Beijing Zhong Ke San Huan High-Tech Co. Ltd. Class A 1,128,619 2,208
  China Lilang Ltd. 5,092,865 2,207
  Anhui Jiangnan Chemical Industry Co. Ltd. Class A 2,445,840 2,205
  Zhejiang HangKe Technology Inc. Co. Class A 479,377 2,203
  Sinosoft Co. Ltd. Class A 736,976 2,198
  Xiamen ITG Group Corp. Ltd. Class A 2,411,174 2,196
  Shandong Pharmaceutical Glass Co. Ltd. Class A 746,932 2,195
  Wangfujing Group Co. Ltd. Class A 1,081,293 2,194
  Primarius Technologies Co. Ltd. Class A 400,608 2,192
  Shandong Humon Smelting Co. Ltd. Class A 1,179,800 2,190
* Ningbo Jifeng Auto Parts Co. Ltd. Class A 1,119,600 2,186
* Bringspring Science & Technology Co. Ltd. Class A 586,000 2,184
* Sinochem International Corp. Class A 3,714,416 2,183
  Xiamen Bank Co. Ltd. Class A 2,201,200 2,181
  First Tractor Co. Ltd. Class A 1,186,189 2,174
* Shenzhen Ysstech Info-tech Co. Ltd. Class A 760,575 2,174
  Hefei Chipmore Technology Co. Ltd. Class A 1,056,575 2,173
  Jiangsu Haili Wind Power Equipment Technology Co. Ltd. Class A 180,760 2,172
  Micro-Tech Nanjing Co. Ltd. Class A 186,368 2,170
  Shanghai Highly Group Co. Ltd. Class A 682,300 2,165
* Tibet Tianlu Co. Ltd. Class A 1,206,334 2,164
  Xi'An Shaangu Power Co. Ltd. Class A 1,766,671 2,161
* Jushri Technologies Inc. Class A 602,800 2,160
  Suzhou Recodeal Interconnect System Co. Ltd. Class A 199,986 2,157
  Shanghai Jahwa United Co. Ltd. Class A 611,625 2,156
  Anhui Heli Co. Ltd. Class A 735,715 2,155
  Guangdong Zhongsheng Pharmaceutical Co. Ltd. Class A 791,417 2,151
  China Green Electricity Investment of Tianjin Co. Ltd. Class A 1,755,200 2,149
  Shenzhen Gas Corp. Ltd. Class A 2,272,203 2,146
23

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Wuxi NCE Power Co. Ltd. Class A 405,481 2,141
* Shenzhen Kingdom Sci-Tech Co. Ltd. Class A 904,798 2,141
  Jiangsu Lihua Foods Group Co. Ltd. 722,700 2,127
  Shanghai Haixin Group Co. Class B 7,814,763 2,119
  Jiangsu Guotai International Group Co. Ltd. Class A 1,608,161 2,112
  Hangzhou Shunwang Technology Co. Ltd. Class A 680,200 2,110
* Beijing Capital Development Co. Ltd. Class A 2,443,183 2,110
* CETC Chips Technology Inc. Class A 1,121,700 2,108
  Kaishan Group Co. Ltd. Class A 934,508 2,107
  Baoji Titanium Industry Co. Ltd. Class A 467,500 2,106
  Taiji Computer Corp. Ltd. Class A 556,906 2,104
  Transfar Zhilian Co. Ltd. Class A 2,395,026 2,103
  Willfar Information Technology Co. Ltd. Class A 404,641 2,099
  Qingdao Rural Commercial Bank Corp. Class A 4,632,500 2,097
  Chongqing Sanfeng Environment Group Corp. Ltd. Class A 1,760,600 2,091
  Xinxiang Richful Lube Additive Co. Ltd. Class A 261,660 2,090
  China Meheco Group Co. Ltd. Class A 1,318,564 2,089
  Guangzhou Guanggang Gases & Energy Co. Ltd. Class A 1,103,462 2,087
* Baoding Tianwei Baobian Electric Co. Ltd. Class A 1,751,501 2,086
  Yusys Technologies Co. Ltd. Class A 618,780 2,085
  Sineng Electric Co. Ltd. Class A 460,227 2,084
  CSSC Science & Technology Co. Ltd. Class A 1,237,900 2,084
  CETC Cyberspace Security Technology Co. Ltd. Class A 810,573 2,083
  FAW Jiefang Group Co. Ltd. Class A 2,055,043 2,075
  BTG Hotels Group Co. Ltd. Class A 1,013,826 2,071
  Focus Technology Co. Ltd. Class A 310,120 2,067
  Moon Environment Technology Co. Ltd. Class A 1,033,869 2,065
* Shenzhen Chipscreen Biosciences Co. Ltd. Class A 475,864 2,065
  Hengbao Co. Ltd. Class A 671,300 2,063
  Beijing Originwater Technology Co. Ltd. Class A 3,353,999 2,056
  Shenzhen FRD Science & Technology Co. Ltd. Class A 465,019 2,056
  Chinalin Securities Co. Ltd. Class A 924,427 2,055
  Zhejiang Jiuzhou Pharmaceutical Co. Ltd. Class A 731,570 2,052
  Guangzhou Zhujiang Brewery Co. Ltd. Class A 1,555,459 2,051
* Gemdale Corp. Class A 3,724,708 2,048
  Zhejiang Weixing New Building Materials Co. Ltd. Class A 1,408,329 2,045
  Levima Advanced Materials Corp. Class A 727,400 2,045
  Jointo Energy Investment Co. Ltd. Hebei Class A 1,592,644 2,041
  Shenzhen Urban Transport Planning Center Co. Ltd. Class A 473,330 2,040
  China Tianying Inc. Class A 2,471,620 2,039
  Sunward Intelligent Equipment Co. Ltd. Class A 1,093,720 2,037
  Eastcompeace Technology Co. Ltd. Class A 598,315 2,036
* Guangdong Create Century Intelligent Equipment Group Corp. Ltd. Class A 1,448,300 2,036
  Chongqing Fuling Electric Power Industrial Co. Ltd. Class A 1,464,180 2,036
* Zhejiang Jinke Tom Culture Industry Co. Ltd. Class A 3,120,745 2,035
* Offcn Education Technology Co. Ltd. Class A 5,321,376 2,035
  Wuxi Autowell Technology Co. Ltd. Class A 330,887 2,033
  Yantai Eddie Precision Machinery Co. Ltd. Class A 772,759 2,032
  China Petroleum Engineering Corp. Class A 4,044,500 2,025
  Sino-Platinum Metals Co. Ltd. Class A 865,820 2,024
  Jiangxi Ganyue Expressway Co. Ltd. Class A 2,687,700 2,021
  Wuxi Huaguang Environment & Energy Group Co. Ltd. Class A 929,331 2,020
* Oriental Energy Co. Ltd. Class A 1,745,621 2,018
  Guangxi Guiguan Electric Power Co. Ltd. Class A 1,921,156 2,017
  Autohome Inc. Class A 319,568 2,016
  Shandong Buchang Pharmaceuticals Co. Ltd. Class A 827,022 2,015
  Shanghai Huayi Group Co. Ltd. Class B 3,803,200 2,012
* Datang Huayin Electric Power Co. Ltd. Class A 2,157,900 2,012
  Sichuan Jiuzhou Electric Co. Ltd. Class A 934,400 2,012
  Shanghai Beite Technology Co. Ltd. Class A 285,600 2,012
* China TransInfo Technology Co. Ltd. Class A 1,285,500 2,010
* Aerospace Hi-Tech Holdings Group Ltd. Class A 750,050 2,010
  Digiwin Co. Ltd. 272,194 2,009
  Bank of Xi'an Co. Ltd. Class A 3,668,400 2,006
  Dongfang Electronics Co. Ltd. Class A 1,198,400 2,005
  Guangdong Advertising Group Co. Ltd. Class A 1,672,622 2,000
  ORG Technology Co. Ltd. Class A 2,362,407 1,999
  Beijing Aosaikang Pharmaceutical Co. Ltd. Class A 729,946 1,999
  Yifan Pharmaceutical Co. Ltd. Class A 1,079,602 1,998
  Nanjing Hanrui Cobalt Co. Ltd. Class A 286,200 1,998
24

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Roshow Technology Co. Ltd. Class A 1,598,800 1,995
  Beijing Aerospace Shenzhou Intelligent Equipment Technology Co. Ltd. Class A 692,300 1,990
  Tibet Rhodiola Pharmaceutical Holding Co. Class A 304,612 1,988
  Semitronix Corp. Class A 184,700 1,988
  DongFeng Automobile Co. Ltd. Class A 1,824,112 1,984
* Merit Interactive Co. Ltd. Class A 384,848 1,978
  China National Gold Group Gold Jewellery Co. Ltd. Class A 1,703,900 1,977
* Porton Pharma Solutions Ltd. Class A 527,750 1,976
* Guangdong Topstar Technology Co. Ltd. Class A 422,540 1,971
  Jafron Biomedical Co. Ltd. Class A 688,160 1,971
* Wondershare Technology Group Co. Ltd. Class A 193,097 1,968
  Pacific Shuanglin Bio-pharmacy Co. Ltd. Class A 888,424 1,967
  Shenzhen Bluetrum Technology Co. Ltd. Class A 102,319 1,960
  Tianneng Battery Group Co. Ltd. Class A 411,289 1,960
  Hangzhou Zhongheng Electric Co. Ltd. Class A 551,267 1,960
  Hexing Electrical Co. Ltd. Class A 411,689 1,955
  China Nonferrous Metal Industry's Foreign Engineering & Construction Co. Ltd. Class A 2,081,320 1,952
  Chongqing Fuling Zhacai Group Co. Ltd. Class A 1,056,397 1,949
  Wasu Media Holding Co. Ltd. Class A 1,757,500 1,949
  Zhejiang Haikong Nanke Huatie Digital Intelligence & Technology Co. Ltd. 1,763,100 1,947
* Jihua Group Corp. Ltd. Class A 3,831,600 1,945
  Guangxi Yuegui Guangye Holding Co. Ltd. Class A 863,467 1,942
  XGD Inc. Class A 497,600 1,937
  Bank of Zhengzhou Co. Ltd. Class A 6,852,369 1,937
* GCL System Integration Technology Co. Ltd. Class A 5,533,825 1,935
  Chongqing Chuanyi Automation Co. Ltd. Class A 589,738 1,935
  Chongyi Zhangyuan Tungsten Industry Co. Ltd. Class A 1,067,800 1,935
  Xianhe Co. Ltd. Class A 601,745 1,934
  Tibet Mineral Development Co. Ltd. Class A 522,300 1,932
  Jinko Power Technology Co. Ltd. Class A 3,924,900 1,931
  Guangdong Electric Power Development Co. Ltd. Class A 2,888,500 1,929
  Shanghai Hanbell Precise Machinery Co. Ltd. Class A 560,880 1,929
  Air China Cargo Co. Ltd. Class A 2,085,000 1,923
  China Kings Resources Group Co. Ltd. Class A 744,567 1,923
  Easy Click Worldwide Network Technology Co. Ltd. Class A 443,600 1,920
  China Southern Power Grid Technology Co. Ltd. Class A 257,685 1,920
* Hwa Create Co. Ltd. Class A 583,500 1,919
  Sumec Corp. Ltd. Class A 1,207,100 1,919
  MLS Co. Ltd. Class A 1,564,100 1,917
  Foryou Corp. Class A 430,200 1,915
  China National Accord Medicines Corp. Ltd. Class B 1,082,653 1,913
* Vanchip Tianjin Technology Co. Ltd. Class A 362,688 1,907
  Wuhu Token Science Co. Ltd. Class A 2,185,083 1,907
* PCI Technology Group Co. Ltd. Class A 1,972,258 1,903
* Tianjin 712 Communication & Broadcasting Co. Ltd. Class A 673,900 1,903
  Riyue Heavy Industry Co. Ltd. Class A 930,460 1,901
* Hangjin Technology Co. Ltd. Class A 626,350 1,900
* Ourpalm Co. Ltd. Class A 2,598,261 1,899
  Henan Yuguang Gold & Lead Co. Ltd. Class A 1,102,100 1,899
  Shanghai Pret Composites Co. Ltd. Class A 1,003,062 1,898
  Shanghai Zhenhua Heavy Industries Co. Ltd. Class A 2,853,241 1,897
  CHN Energy Changyuan Electric Power Co. Ltd. Class A 3,009,294 1,896
  Ningbo Yunsheng Co. Ltd. Class A 941,571 1,889
  Lizhong Sitong Light Alloys Group Co. Ltd. Class A 549,579 1,888
  Ovctek China Inc. Class A 805,582 1,887
  China International Marine Containers Group Co. Ltd. Class A 1,699,880 1,887
  Bank of Chongqing Co. Ltd. Class A 1,256,017 1,885
  Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd. Class A 1,334,292 1,884
  Hangzhou Honghua Digital Technology Stock Co. Ltd. Class A 163,713 1,883
  Skyworth Digital Co. Ltd. Class A 985,400 1,883
* Shenzhen Mason Technologies Co. Ltd. Class A 848,500 1,881
2 Digital China Holdings Ltd. 4,865,894 1,878
  Lingyun Industrial Corp. Ltd. Class A 1,012,140 1,877
  Wuhan Raycus Fiber Laser Technologies Co. Ltd. Class A 519,058 1,877
  Hongrun Construction Group Co. Ltd. Class A 1,089,346 1,874
  China World Trade Center Co. Ltd. Class A 660,935 1,874
  Hubei Yihua Chemical Industry Co. Ltd. Class A 958,900 1,871
  Visual China Group Co. Ltd. Class A 615,131 1,871
* Easyhome New Retail Group Co. Ltd. Class A 4,603,400 1,870
  China Merchants Port Group Co. Ltd. Class A 645,200 1,862
25

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Aisino Corp. Class A 1,593,519 1,862
  Weaver Network Technology Co. Ltd. Class A 231,500 1,861
* Angang Steel Co. Ltd. Class A 4,957,502 1,854
  Triangle Tyre Co. Ltd. Class A 891,500 1,852
  Guangdong Taienkang Pharmaceutical Co. Ltd. Class A 409,300 1,849
  Guangzhou Kingmed Diagnostics Group Co. Ltd. Class A 438,390 1,840
  Neusoft Corp. Class A 1,243,366 1,839
  Suntak Technology Co. Ltd. Class A 917,800 1,837
  Zhejiang Huace Film & Television Co. Ltd. Class A 1,700,924 1,836
  Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd. Class A 716,825 1,836
  ZWSOFT Co. Ltd. Guangzhou Class A 161,766 1,834
* Zhuhai Zhumian Group Co. Ltd. 1,966,420 1,833
* Chongqing Iron & Steel Co. Ltd. Class A 8,556,724 1,829
  Zhejiang Hisun Pharmaceutical Co. Ltd. Class A 1,159,800 1,827
  Shaanxi Construction Engineering Group Corp. Ltd. Class A 3,428,625 1,826
  Sinofibers Technology Co. Ltd. Class A 403,400 1,825
  Shanghai Daimay Automotive Interior Co. Ltd. Class A 1,701,264 1,825
* China Enterprise Co. Ltd. Class A 4,507,535 1,825
  Shenzhen Agricultural Power Group Co. Ltd. Class A 1,518,429 1,824
* Polaris Bay Group Co. Ltd. Class A 1,761,898 1,823
  Shenzhen Aisidi Co. Ltd. Class A 1,044,620 1,822
  Lao Feng Xiang Co. Ltd. Class A 268,600 1,820
  Beijing Dahao Technology Corp. Ltd. Class A 676,544 1,820
* Beijing E-Hualu Information Technology Co. Ltd. Class A 634,529 1,819
* Doushen Beijing Education & Technology Inc. Class A 1,835,600 1,817
  Titan Wind Energy Suzhou Co. Ltd. Class A 1,685,972 1,815
  Shenzhen Hopewind Electric Co. Ltd. Class A 427,900 1,815
  Dongguan Development Holdings Co. Ltd. Class A 1,091,801 1,809
  Xiamen Intretech Inc. Class A 646,390 1,799
  China National Accord Medicines Corp. Ltd. Class A 501,451 1,792
* Wuhan P&S Information Technology Co. Ltd. Class A 1,137,200 1,789
  Jiangzhong Pharmaceutical Co. Ltd. Class A 594,900 1,788
  Changzhou Fusion New Material Co. Ltd. Class A 212,602 1,781
  Gansu Energy Chemical Co. Ltd. Class A 4,889,586 1,780
* SanFeng Intelligent Equipment Group Co. Ltd. Class A 1,336,600 1,777
  Gaona Aero Material Co. Ltd. Class A 761,440 1,774
  Fujian Expressway Development Co. Ltd. Class A 3,524,100 1,773
  Wuxi Rural Commercial Bank Co. Ltd. Class A 2,070,000 1,766
  Linktel Technologies Co. Ltd. Class A 108,980 1,766
* Jishi Media Co. Ltd. Class A 3,379,800 1,765
  Harbin Hatou Investment Co. Ltd. Class A 1,675,400 1,764
* Addsino Co. Ltd. Class A 1,497,900 1,762
  YGSOFT Inc. Class A 1,925,995 1,761
  HBIS Resources Co. Ltd. Class A 666,600 1,759
  Windey Energy Technology Group Co. Ltd. Class A 684,528 1,758
* Huaihe Energy Group Co. Ltd. Class A 3,346,600 1,756
  Beijing Balance Medical Technology Co. Ltd. Class A 109,036 1,755
  Xinhua Winshare Publishing & Media Co. Ltd. Class A 868,923 1,753
  CIMC Vehicles Group Co. Ltd. Class A 1,297,200 1,752
  Pylon Technologies Co. Ltd. Class A 187,357 1,747
  Yantai Dongcheng Pharmaceutical Co. Ltd. Class A 795,661 1,747
* Zhejiang Dun'An Artificial Environment Co. Ltd. Class A 900,100 1,745
  Shanghai Foreign Service Holding Group Co. Ltd. Class A 2,319,600 1,744
  Zhejiang Medicine Co. Ltd. Class A 851,350 1,743
  Nanjing Gaoke Co. Ltd. Class A 1,342,279 1,740
  China Southern Power Grid Energy Efficiency&Clean Energy Co. Ltd. Class A 2,509,500 1,739
  Explosive Co. Ltd. Class A 894,300 1,738
  Baowu Magnesium Technology Co. Ltd. Class A 863,707 1,738
  Jiangsu Xukuang Energy Co. Ltd. Class A 2,525,800 1,736
  Naruida Technology Co. Ltd. Class A 316,911 1,736
  Chinese Universe Publishing & Media Group Co. Ltd. Class A 1,190,036 1,736
  Hainan Mining Co. Ltd. Class A 1,264,500 1,735
  CCCC Design & Consulting Group Co. Ltd. Class A 1,604,250 1,729
  Chongqing Three Gorges Water Conservancy & Electric Power Co. Ltd. Class A 1,830,158 1,727
  Guangdong Mingyang Electric Co. Ltd. Class A 267,300 1,723
  Changzhou Qianhong Biopharma Co. Ltd. Class A 1,317,650 1,723
  China Railway Special Cargo Logistics Co. Ltd. Class A 2,908,800 1,721
  Beijing Shunxin Agriculture Co. Ltd. Class A 781,346 1,721
  Ningbo Xusheng Group Co. Ltd. Class A 811,263 1,717
  BBMG Corp. Class A 7,099,793 1,716
26

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Beijing Relpow Technology Co. Ltd. Class A 463,747 1,712
  Guangdong Xinbao Electrical Appliances Holdings Co. Ltd. Class A 804,713 1,711
* Nations Technologies Inc. Class A 521,400 1,708
  Shenzhen Rongda Photosensitive & Technology Co. Ltd. Class A 328,532 1,704
  Hangzhou EZVIZ Network Co. Ltd. Class A 375,392 1,703
  Xi'an Triangle Defense Co. Ltd. Class A 471,339 1,700
  Xiamen Kingdomway Group Co. Class A 599,100 1,699
  Servyou Software Group Co. Ltd. Class A 230,800 1,696
  CMST Development Co. Ltd. Class A 2,022,131 1,691
  Chow Tai Seng Jewellery Co. Ltd. Class A 868,825 1,690
  Bank of Lanzhou Co. Ltd. Class A 4,998,100 1,686
* Greattown Holdings Ltd. Class A 2,188,021 1,685
  Fangda Special Steel Technology Co. Ltd. Class A 2,024,055 1,685
  Shanghai Shyndec Pharmaceutical Co. Ltd. Class A 1,150,171 1,684
* Xinjiang Xintai Natural Gas Co. Ltd. Class A 420,940 1,684
  Yuan Longping High-tech Agriculture Co. Ltd. Class A 1,230,639 1,684
  Anhui Expressway Co. Ltd. Class A 802,100 1,683
  Xinyu Iron & Steel Co. Ltd. Class A 2,847,500 1,682
  Chengdu CORPRO Technology Co. Ltd. Class A 519,000 1,679
* China Express Airlines Co. Ltd. Class A 1,118,500 1,678
  Zhejiang Weixing Industrial Development Co. Ltd. Class A 1,095,952 1,677
  Eyebright Medical Technology Beijing Co. Ltd. Class A 183,848 1,676
* Shanghai Aerospace Automobile Electromechanical Co. Ltd. Class A 1,444,129 1,675
* Shenzhen Clou Electronics Co. Ltd. Class A 1,360,700 1,674
  Zhejiang Jiemei Electronic & Technology Co. Ltd. Class A 372,934 1,674
  Zibo Qixiang Tengda Chemical Co. Ltd. Class A 2,474,682 1,673
  Innuovo Technology Co. Ltd. Class A 1,119,455 1,671
* SOHO China Ltd. 23,523,530 1,667
  BBMG Jidong Cement Group Co. Ltd. Class A 2,457,177 1,665
  Weifu High-Technology Group Co. Ltd. Class A 551,900 1,665
  Hunan TV & Broadcast Intermediary Co. Ltd. Class A 1,329,500 1,662
  Zhejiang Wanliyang Co. Ltd. Class A 1,312,500 1,662
  Shaanxi Beiyuan Chemical Industry Group Co. Ltd. Class A 2,997,200 1,660
  Zhejiang Jiecang Linear Motion Technology Co. Ltd. Class A 307,909 1,656
  Jiangsu Boqian New Materials Stock Co. Ltd. Class A 217,300 1,655
  Xinhuanet Co. Ltd. Class A 588,640 1,655
* Shenzhen Dynanonic Co. Ltd. Class A 256,032 1,653
  Kidswant Children Products Co. Ltd. Class A 1,089,100 1,650
* Bestway Marine & Energy Technology Co. Ltd. Class A 1,738,650 1,650
  China Resources Boya Bio-pharmaceutical Group Co. Ltd. Class A 464,100 1,648
  Zhuzhou Times New Material Technology Co. Ltd. Class A 802,800 1,647
  Shanghai Zijiang Enterprise Group Co. Ltd. Class A 1,482,615 1,646
  PhiChem Corp. Class A 498,100 1,642
  Eastern Communications Co. Ltd. Class A 891,962 1,641
  Shenzhen Batian Ecotypic Engineering Co. Ltd. Class A 1,046,351 1,639
  Guodian Nanjing Automation Co. Ltd. Class A 990,432 1,638
  Eternal Asia Supply Chain Management Ltd. Class A 2,288,200 1,637
  China Merchants Property Operation & Service Co. Ltd. Class A 1,015,616 1,636
* Beijing Jingwei Hirain Technologies Co. Inc. Class A 108,181 1,634
  Zhuhai Huafa Properties Co. Ltd. Class A 2,363,266 1,634
  Hoymiles Power Electronics Inc. Class A 108,567 1,634
  Zhejiang Zhaolong Interconnect Technology Co. Ltd. Class A 222,640 1,633
  Shenzhen Airport Co. Ltd. Class A 1,607,662 1,632
  Tianjin Port Co. Ltd. Class A 2,408,471 1,628
* Genimous Technology Co. Ltd. Class A 1,270,335 1,628
  Yantai Zhenghai Magnetic Material Co. Ltd. Class A 692,454 1,627
  Shenzhen Noposin Crop Science Co. Ltd. Class A 949,300 1,627
  Zhejiang Semir Garment Co. Ltd. Class A 2,138,820 1,626
  Jinyu Bio-Technology Co. Ltd. Class A 1,072,250 1,626
  Guangdong Guangzhou Daily Media Co. Ltd. Class A 1,092,400 1,623
  Guangdong Construction Engineering Group Co. Ltd. Class A 3,011,900 1,622
  Jinlongyu Group Co. Ltd. Class A 372,600 1,621
  Shanghai Jinjiang International Hotels Co. Ltd. Class A 511,724 1,619
  Sonoscape Medical Corp. Class A 401,567 1,619
* Suzhou Everbright Photonics Co. Ltd. Class A 159,940 1,618
  Jiangsu Ruitai New Energy Materials Co. Ltd. Class A 516,700 1,618
* GoodWe Technologies Co. Ltd. Class A 189,178 1,618
  Jiaozuo Wanfang Aluminum Manufacturing Co. Ltd. Class A 1,120,686 1,617
* Business-intelligence of Oriental Nations Corp. Ltd. Class A 1,086,522 1,614
  Tianjin Capital Environmental Protection Group Co. Ltd. Class A 1,829,397 1,613
27

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Jiangsu Jiangyin Rural Commercial Bank Co. Ltd. Class A 2,413,839 1,612
  Guobang Pharma Ltd. Class A 502,900 1,609
  Henan Lingrui Pharmaceutical Co. Class A 504,300 1,608
  Chengdu Leejun Industrial Co. Ltd. Class A 1,022,161 1,607
  Suzhou Secote Precision Electronic Co. Ltd. Class A 238,370 1,607
* Guizhou Broadcasting & TV Information Network Co. Ltd. Class A 1,169,600 1,605
  Xizang Zhufeng Resources Co. Ltd. Class A 798,757 1,602
  Youngy Co. Ltd. Class A 239,500 1,599
* Hainan Haide Capital Management Co. Ltd. Class A 1,513,963 1,597
  Jiangsu Zhangjiagang Rural Commercial Bank Co. Ltd. Class A 2,558,780 1,596
  Zhewen Interactive Group Co. Ltd. Class A 1,298,000 1,595
* Qinchuan Machine Tool & Tool Group Share Co. Ltd. Class A 825,000 1,592
  Luenmei Quantum Co. Ltd. Class A 1,286,022 1,591
  Topsec Technologies Group Inc. Class A 1,084,532 1,590
  Jiangsu Shagang Co. Ltd. Class A 1,952,785 1,587
* Toyou Feiji Electronics Co. Ltd. Class A 518,435 1,586
  Shandong Publishing & Media Co. Ltd. Class A 1,348,300 1,584
  Shanghai Huayi Group Co. Ltd. Class A 1,416,176 1,583
  Shanghai SMI Holding Co. Ltd. Class A 2,404,797 1,582
  Anhui Wanwei Updated High-Tech Material Industry Co. Ltd. Class A 1,844,250 1,581
  Valiant Co. Ltd. Class A 802,650 1,581
  Zhejiang Xinan Chemical Industrial Group Co. Ltd. Class A 1,115,150 1,580
  Jiangsu Linyang Energy Co. Ltd. Class A 1,919,925 1,576
  Xinjiang Joinworld Co. Ltd. Class A 1,379,316 1,572
  Sichuan Anning Iron & Titanium Co. Ltd. Class A 348,413 1,571
  Huafon Microfibre Shanghai Technology Co. Ltd. Class A 1,565,301 1,570
  Tianjin Chase Sun Pharmaceutical Co. Ltd. Class A 2,920,805 1,569
  Zhejiang Jolly Pharmaceutical Co. Ltd. Class A 636,900 1,569
* Shuangliang Eco-Energy Systems Co. Ltd. Class A 1,614,865 1,569
* Shanghai Anlogic Infotech Co. Ltd. Class A 397,342 1,569
* Hunan Corun New Energy Co. Ltd. Class A 1,484,230 1,568
* Guangdong TCL Smart Home Appliances Co. Ltd. 1,024,300 1,568
* Huizhou Speed Wireless Technology Co. Ltd. Class A 443,300 1,563
* C*Core Technology Co. Ltd. Class A 351,184 1,562
* Shanghai Milkground Food Tech Co. Ltd. Class A 433,674 1,559
  Mayinglong Pharmaceutical Group Co. Ltd. Class A 393,226 1,559
  Jiangsu Provincial Agricultural Reclamation & Development Corp. Class A 1,191,892 1,558
* Shida Shinghwa Advanced Material Group Co. Ltd. Class A 171,000 1,557
*,2 Gemdale Properties & Investment Corp. Ltd. 68,852,000 1,553
* Fujian Kuncai Material Technology Co. Ltd. Class A 597,940 1,551
  Sunstone Development Co. Ltd. Class A 448,100 1,551
  Suzhou Nanomicro Technology Co. Ltd. Class A 359,533 1,549
  Guizhou Zhenhua Fengguang Semiconductor Co. Ltd. Class A 189,129 1,548
  OPT Machine Vision Tech Co. Ltd. Class A 86,420 1,547
  Beijing Haohua Energy Resource Co. Ltd. Class A 1,424,760 1,546
  Fulongma Group Co. Ltd. Class A 355,320 1,545
* Forehope Electronic Ningbo Co. Ltd. Class A 340,970 1,540
* Xinzhi Group Co. Ltd. Class A 382,400 1,539
  Jiaze Renewables Co. Ltd. 2,495,200 1,537
  Shanghai Tongji Science & Technology Industrial Co. Ltd. Class A 736,081 1,537
  Nanjing Les Information Technology Co. Ltd. Class A 139,135 1,536
  Goldenmax International Group Ltd. Class A 661,900 1,534
  Guomai Technologies Inc. Class A 968,065 1,534
  Henan Zhongyuan Expressway Co. Ltd. Class A 2,397,600 1,534
* Gansu Jiu Steel Group Hongxing Iron & Steel Co. Ltd. Class A 6,449,000 1,533
  Anhui Honglu Steel Construction Group Co. Ltd. Class A 602,299 1,533
  Xinjiang Communications Construction Group Co. Ltd. Class A 576,600 1,533
  Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd. Class A 993,031 1,527
* Visionox Technology Inc. Class A 1,281,646 1,527
* Vcanbio Cell & Gene Engineering Corp. Ltd. Class A 440,200 1,526
  Camel Group Co. Ltd. Class A 1,063,051 1,524
  Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd. Class B 2,145,709 1,523
  Chengdu Wintrue Holding Co. Ltd. Class A 1,037,870 1,523
*,2 Guangzhou R&F Properties Co. Ltd. Class H 21,920,336 1,522
  Shanghai Fullhan Microelectronics Co. Ltd. Class A 228,782 1,519
  Tongyu Heavy Industry Co. Ltd. Class A 3,501,757 1,516
  China Meidong Auto Holdings Ltd. 6,662,521 1,516
  Beijing Gehua CATV Network Co. Ltd. Class A 1,339,400 1,515
* Insigma Technology Co. Ltd. Class A 1,008,500 1,515
  Shanghai MicroPort Endovascular MedTech Group Co. Ltd. Class A 105,714 1,513
28

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Nuode New Materials Co. Ltd. Class A 1,516,200 1,509
* Sansteel Minguang Co. Ltd. Fujian Class A 2,397,156 1,509
* COFCO Biotechnology Co. Ltd. Class A 1,807,600 1,507
  Suofeiya Home Collection Co. Ltd. Class A 823,278 1,506
  Edifier Technology Co. Ltd. Class A 835,300 1,505
* Archermind Technology Co. Ltd. Class A 195,091 1,500
  Chengdu RML Technology Co. Ltd. Class A 232,038 1,500
  Jiangsu Yunyi Electric Co. Ltd. Class A 878,840 1,497
  Huatu Cendes Co. Ltd. Class A 158,580 1,497
  Jiangxi Ganneng Co. Ltd. Class A 992,742 1,496
  Shanghai Environment Group Co. Ltd. Class A 1,281,808 1,496
  Shenzhen Desay Battery Technology Co. Class A 377,942 1,493
  Jiangsu Dingsheng New Energy Materials Co. Ltd. Class A 827,460 1,489
  Stanley Agricultural Group Co. Ltd. Class A 1,085,928 1,488
  Shenzhen Leaguer Co. Ltd. Class A 1,145,721 1,486
* BOE HC SemiTek Corp. 1,326,450 1,485
* Shanghai Industrial Development Co. Ltd. Class A 1,520,282 1,485
  Tofflon Science & Technology Group Co. Ltd. Class A 622,854 1,484
  Laobaixing Pharmacy Chain JSC Class A 634,650 1,481
  Shenzhen Sunline Tech Co. Ltd. Class A 711,652 1,479
  Norinco International Cooperation Ltd. Class A 939,308 1,476
* Alpha Group Class A 1,208,601 1,475
  Jiangxi Hongcheng Environment Co. Ltd. Class A 1,144,900 1,474
  Cheng De Lolo Co. Ltd. Class A 1,132,872 1,470
* Sanwei Holding Group Co. Ltd. Class A 900,939 1,468
  Kailuan Energy Chemical Co. Ltd. Class A 1,599,269 1,468
  Shenzhen Microgate Technology Co. Ltd. Class A 822,600 1,467
  Southern Publishing & Media Co. Ltd. Class A 736,800 1,465
  Sansure Biotech Inc. Class A 472,076 1,462
  Sichuan Expressway Co. Ltd. Class A 1,813,610 1,462
  Qingdao Baheal Pharmaceutical Co. Ltd. Class A 388,200 1,460
  NYOCOR Co. Ltd. Class A 1,861,100 1,460
  Deppon Logistics Co. Ltd. Class A 694,000 1,456
  Guangzhou Wondfo Biotech Co. Ltd. Class A 469,718 1,456
  Zhuhai Bojay Electronics Co. Ltd. Class A 143,000 1,455
* Grandjoy Holdings Group Co. Ltd. Class A 3,472,800 1,451
* Cinda Real Estate Co. Ltd. Class A 2,756,335 1,449
  Shanghai Datun Energy Resources Co. Ltd. Class A 745,100 1,446
  Sinocare Inc. Class A 543,300 1,446
  Zhejiang Conba Pharmaceutical Co. Ltd. Class A 2,197,418 1,445
  Fushun Special Steel Co. Ltd. Class A 1,960,890 1,444
  Jiangsu Zhengdan Chemical Industry Co. Ltd. Class A 518,940 1,443
  Xiamen King Long Motor Group Co. Ltd. Class A 676,646 1,441
  Chongqing Department Store Co. Ltd. Class A 374,760 1,440
  Shenzhen Yan Tian Port Holding Co. Ltd. Class A 2,244,251 1,439
  Renhe Pharmacy Co. Ltd. Class A 1,646,848 1,438
  Beijing Lier High-temperature Materials Co. Ltd. Class A 1,242,571 1,437
  Luxin Venture Capital Group Co. Ltd. Class A 698,508 1,437
  New Guomai Digital Culture Co. Ltd. Class A 733,200 1,436
* Guangdong Orient Zirconic Ind Sci & Tech Co. Ltd. Class A 775,900 1,433
  Mehow Innovative Ltd. Class A 433,860 1,432
* EFORT Intelligent Robot Co. Ltd. 448,241 1,432
* Sinodata Co. Ltd. Class A 329,635 1,431
  Yangling Metron New Material Inc. Class A 610,820 1,430
* LianChuang Electronic Technology Co. Ltd. Class A 989,561 1,425
  Shinva Medical Instrument Co. Ltd. Class A 652,622 1,425
  Jiangsu Zijin Rural Commercial Bank Co. Ltd. Class A 3,576,900 1,422
  Jiangsu Suzhou Rural Commercial Bank Co. Ltd. Class A 1,951,950 1,422
  JSTI Group Class A 1,199,857 1,420
  Lianhe Chemical Technology Co. Ltd. Class A 853,200 1,419
* Zhuhai Aerospace Microchips Science & Technology Co. Ltd. Class A 754,808 1,418
* Guangdong Golden Dragon Development Inc. Class A 731,400 1,417
* Chongqing Taiji Industry Group Co. Ltd. Class A 478,800 1,414
  Beijing Wandong Medical Technology Co. Ltd. Class A 633,223 1,413
  Shanghai Yaoji Technology Co. Ltd. Class A 386,659 1,410
* Risen Energy Co. Ltd. Class A 931,800 1,410
  Nanjing Pharmaceutical Co. Ltd. Class A 1,983,062 1,410
  Telling Telecommunication Holding Co. Ltd. Class A 994,100 1,409
  Anhui Jinhe Industrial Co. Ltd. Class A 498,800 1,408
  Guangdong Electric Power Development Co. Ltd. Class B 5,941,248 1,407
29

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* TPV Technology Co. Ltd. Class A 3,847,200 1,407
  Ningbo Yongxin Optics Co. Ltd. Class A 97,100 1,399
  China CAMC Engineering Co. Ltd. Class A 1,168,000 1,398
* CITIC Guoan Information Industry Co. Ltd. Class A 3,644,200 1,395
  Tangshan Sanyou Chemical Industries Co. Ltd. Class A 1,740,052 1,394
  Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd. Class A 196,600 1,393
  Bright Dairy & Food Co. Ltd. Class A 1,183,800 1,391
* HyUnion Holding Co. Ltd. Class A 1,101,382 1,385
* Gosuncn Technology Group Co. Ltd. Class A 1,697,592 1,384
  Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co. Ltd. Class A 1,793,499 1,382
  Dalian Huarui Heavy Industry Group Co. Ltd. Class A 1,526,620 1,382
* Beijing Watertek Information Technology Co. Ltd. Class A 1,600,000 1,381
  CNSIG Inner Mongolia Chemical Industry Co. Ltd. Class A 1,237,659 1,380
  Shanghai Liangxin Electrical Co. Ltd. Class A 925,872 1,380
  City Development Environment Co. Ltd. Class A 654,680 1,375
* GuangYuYuan Chinese Herbal Medicine Co. Ltd. Class A 510,540 1,374
  GRG Metrology & Test Group Co. Ltd. Class A 466,500 1,374
  Shanghai Runda Medical Technology Co. Ltd. Class A 580,320 1,374
  C&S Paper Co. Ltd. Class A 1,224,890 1,372
  Sanquan Food Co. Ltd. Class A 873,620 1,371
  Kunshan Dongwei Technology Co. Ltd. Class A 255,990 1,370
  Shenzhen Expressway Corp. Ltd. Class A 953,204 1,370
  Huaxia Eye Hospital Group Co. Ltd. Class A 497,500 1,367
  Inmyshow Digital Technology Group Co. Ltd. Class A 1,563,057 1,366
  Huapont Life Sciences Co. Ltd. Class A 1,986,101 1,366
  Central China Land Media Co. Ltd. Class A 803,100 1,365
* Zhongfu Straits Pingtan Development Co. Ltd. Class A 1,368,344 1,361
  PNC Process Systems Co. Ltd. Class A 311,280 1,360
  Chengzhi Co. Ltd. Class A 1,263,328 1,360
* Montnets Cloud Technology Group Co. Ltd. Class A 785,000 1,360
  TDG Holdings Co. Ltd. Class A 940,100 1,358
  Shanxi Lanhua Sci-Tech Venture Co. Ltd. Class A 1,430,650 1,354
  Shanxi Coking Co. Ltd. Class A 2,255,474 1,354
  Changjiang Publishing & Media Co. Ltd. Class A 1,099,100 1,353
* Youzu Interactive Co. Ltd. Class A 745,416 1,351
  China Bester Group Telecom Co. Ltd. Class A 409,299 1,351
  DeHua TB New Decoration Materials Co. Ltd. Class A 760,550 1,350
* Shanghai Yizhong Pharmaceutical Co. Ltd. Class A 173,249 1,349
  Shanghai Bailian Group Co. Ltd. Class A 1,062,488 1,349
* SPIC Yuanda Environmental-Protection Co. Ltd. Class A 717,700 1,348
  Foran Energy Group Co. Ltd. Class A 786,212 1,347
  Qingdao Haier Biomedical Co. Ltd. Class A 274,959 1,345
  Sinomach Automobile Co. Ltd. Class A 1,528,100 1,340
  Nanjing Xinjiekou Department Store Co. Ltd. Class A 1,269,500 1,339
  North China Pharmaceutical Co. Ltd. Class A 1,585,460 1,338
* Chongqing Genrix Biopharmaceutical Co. Ltd. Class A 313,323 1,337
  Bluestar Adisseo Co. Class A 1,009,941 1,336
  Hunan Friendship & Apollo Commercial Co. Ltd. Class A 1,433,100 1,336
  Aotecar New Energy Technology Group Co. Ltd. Class A 2,987,100 1,336
  Triumph Science & Technology Co. Ltd. Class A 774,750 1,336
* CSG Smart Science & Technology Co. Ltd. Class A 756,395 1,335
  Sichuan Injet Electric Co. Ltd. Class A 179,400 1,333
  Sichuan Teway Food Group Co. Ltd. Class A 793,850 1,332
  Chengdu Guoguang Electric Co. Ltd. Class A 105,700 1,332
* Hymson Laser Technology Group Co. Ltd. Class A 220,067 1,332
  Shanghai Ganglian E-Commerce Holdings Co. Ltd. Class A 347,633 1,331
  Sinopec Shanghai Petrochemical Co. Ltd. Class A 3,447,940 1,329
  Henan Liliang Diamond Co. Ltd. Class A 246,020 1,329
  Rianlon Corp. Class A 235,800 1,328
* Shanghai STEP Electric Corp. Class A 521,200 1,324
  Zhejiang Jingu Co. Ltd. Class A 908,760 1,323
  Shanghai Haohai Biological Technology Co. Ltd. Class A 184,214 1,322
* Minmetals Development Co. Ltd. Class A 1,027,086 1,321
* Minmetals New Energy Materials Hunan Co. Ltd. 1,294,560 1,319
* Jiangsu Kanion Pharmaceutical Co. Ltd. Class A 626,784 1,318
  Jinxi Axle Co. Ltd. Class A 1,804,300 1,317
* Beijing eGOVA Co. Ltd. Class A 571,612 1,314
  KPC Pharmaceuticals Inc. Class A 686,896 1,314
  Shenma Industry Co. Ltd. Class A 939,904 1,313
  Tibet Urban Development & Investment Co. Ltd. Class A 755,514 1,311
30

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Wuxi Boton Technology Co. Ltd. Class A 399,404 1,308
  Jiangsu Guoxin Corp. Ltd. Class A 1,130,100 1,307
* Shaanxi Aerospace Power Hi-Tech Co. Ltd. Class A 605,400 1,302
  Fujian Qingshan Paper Industry Co. Ltd. Class A 2,584,790 1,301
* Chengdu ALD Aviation Manufacturing Corp. Class A 353,242 1,300
  Shandong Hi-Speed Road & Bridge Group Co. Ltd. Class A 1,506,900 1,295
  Sino Wealth Electronic Ltd. Class A 336,367 1,292
* Hainan Development Holdings Nanhai Co. Ltd. Class A 703,200 1,291
  Shanghai Fortune Techgroup Co. Ltd. Class A 451,600 1,291
  Guangdong Ellington Electronics Technology Co. Ltd. Class A 814,664 1,291
* Henan Huanghe Whirlwind Co. Ltd. Class A 1,428,980 1,290
* Tellhow Sci-Tech Co. Ltd. Class A 983,884 1,289
  Guangdong Baolihua New Energy Stock Co. Ltd. Class A 1,926,460 1,289
  Shandong Dongyue Silicone Material Co. Ltd. Class A 986,800 1,288
  Wuhan Yangtze Communications Industry Group Co. Ltd. Class A 345,260 1,286
  Dian Diagnostics Group Co. Ltd. Class A 561,937 1,284
  Yunnan Energy Investment Co. Ltd. Class A 751,155 1,283
  Jiangsu ToLand Alloy Co. Ltd. Class A 333,255 1,283
  Zhejiang Guyuelongshan Shaoxing Wine Co. Ltd. Class A 959,788 1,281
  Qianhe Condiment & Food Co. Ltd. Class A 982,163 1,280
  Guangzhou Restaurant Group Co. Ltd. Class A 534,761 1,279
  Kuangda Technology Group Co. Ltd. Class A 1,463,584 1,276
  Gansu Shangfeng Cement Co. Ltd. Class A 803,380 1,275
  CQ Pharmaceutical Holding Co. Ltd. Class A 1,688,400 1,275
  Chongqing Road & Bridge Co. Ltd. Class A 1,338,000 1,274
  Zhejiang Provincial New Energy Investment Group Co. Ltd. Class A 1,147,300 1,272
  IReader Technology Co. Ltd. Class A 434,794 1,270
  Zhejiang Jiahua Energy Chemical Industry Co. Ltd. Class A 1,059,000 1,269
  Jiangnan Mould & Plastic Technology Co. Ltd. Class A 887,900 1,268
  Nantong Jiangshan Agrochemical & Chemical LLC Class A 377,112 1,268
* Wolong New Energy Group Co. Ltd. Class A 943,001 1,265
  Yueyang Forest & Paper Co. Ltd. Class A 2,021,160 1,264
  FAWER Automotive Parts Co. Ltd. Class A 1,597,545 1,262
  Lier Chemical Co. Ltd. Class A 706,221 1,259
  FESCO Group Co. Ltd. Class A 472,048 1,257
* Lanzhou LS Heavy Equipment Co. Ltd. Class A 1,024,988 1,255
* Beijing Haixin Energy Technology Co. Ltd. Class A 2,183,007 1,255
  Zhejiang Jinggong Integration Technology Co. Ltd. Class A 434,500 1,254
  Vats Liquor Chain Store Management JSC Ltd. Class A 428,658 1,253
  ShaanXi Provincial Natural Gas Co. Ltd. Class A 1,093,000 1,252
  Shandong Dawn Polymer Co. Ltd. Class A 359,200 1,251
  Zhongmin Energy Co. Ltd. Class A 1,714,927 1,251
  Hsino Tower Group Co. Ltd. Class A 2,044,000 1,250
* Zhejiang Hisoar Pharmaceutical Co. Ltd. Class A 1,547,217 1,248
  Asian Star Anchor Chain Co. Ltd. Jiangsu Class A 858,650 1,246
  Shenzhen Hello Tech Energy Co. Ltd. Class A 144,743 1,243
* North Electro-Optic Co. Ltd. Class A 494,561 1,241
  Huangshan Novel Co. Ltd. Class A 769,699 1,240
  Guangdong Tapai Group Co. Ltd. Class A 1,041,936 1,240
  Beijing GeoEnviron Engineering & Technology Inc. Class A 1,167,540 1,238
  Jingjin Equipment Inc. Class A 575,626 1,234
  Guizhou Panjiang Refined Coal Co. Ltd. Class A 1,703,900 1,234
  Dlg Exhibitions & Events Corp. Ltd. Class A 772,940 1,232
  China Science Publishing & Media Ltd. Class A 449,100 1,232
  Fujian Apex Software Co. Ltd. Class A 220,440 1,228
* Shaanxi Fenghuo Electronics Co. Ltd. Class A 796,129 1,227
* AECC Aero Science & Technology Co. Ltd. Class A 324,800 1,225
* Liuzhou Iron & Steel Co. Ltd. Class A 1,612,600 1,225
  Beyondsoft Corp. Class A 638,200 1,224
  Anhui Guangxin Agrochemical Co. Ltd. Class A 743,036 1,224
  Anhui Xinhua Media Co. Ltd. Class A 1,299,982 1,224
* Financial Street Holdings Co. Ltd. Class A 2,880,311 1,223
  Shandong Lukang Pharma Class A 867,190 1,222
  Jiangsu Asia-Pacific Light Alloy Technology Co. Ltd. Class A 1,305,666 1,222
  Hainan Expressway Co. Ltd. Class A 1,170,600 1,221
  Fujian Longxi Bearing Group Co. Ltd. Class A 366,699 1,219
  Zhejiang Tianyu Pharmaceutical Co. Ltd. Class A 330,880 1,219
  Jiangsu Gian Technology Co. Ltd. Class A 180,768 1,219
  263 Network Communications Co. Ltd. Class A 1,350,860 1,217
  China Railway Tielong Container Logistics Co. Ltd. Class A 1,333,150 1,211
31

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Anhui Tatfook Technology Co. Ltd. Class A 741,800 1,209
* Daan Gene Co. Ltd. Class A 1,317,523 1,206
  Suzhou Good-Ark Electronics Co. Ltd. Class A 837,100 1,205
  Jangho Group Co. Ltd. Class A 1,104,707 1,204
* Suzhou Jinfu Technology Co. Ltd. Class A 1,089,400 1,203
  Chengdu Kanghua Biological Products Co. Ltd. Class A 110,970 1,203
* Guangxi Wuzhou Zhongheng Group Co. Ltd. Class A 3,064,100 1,203
  Motic Xiamen Electric Group Co. Ltd. Class A 486,429 1,202
  Zhejiang Tiantie Science & Technology Co. Ltd. Class A 1,101,078 1,201
  Suzhou Anjie Technology Co. Ltd. Class A 613,109 1,199
  Chengdu Information Technology of Chinese Academy of Sciences Co. Ltd. Class A 253,700 1,198
* Beijing VRV Software Corp. Ltd. Class A 1,365,700 1,198
  Guangdong South New Media Co. Ltd. Class A 176,292 1,198
  Zhejiang Communications Technology Co. Ltd. Class A 2,038,540 1,198
* Beijing SuperMap Software Co. Ltd. Class A 490,500 1,197
  Zhejiang Xianju Pharmaceutical Co. Ltd. Class A 898,950 1,197
* Wonders Information Co. Ltd. Class A 1,233,500 1,196
* Bright Real Estate Group Co. Ltd. Class A 2,068,005 1,196
  Lancy Co. Ltd. Class A 430,900 1,193
* Jiangsu Huahong Technology Stock Co. Ltd. Class A 504,773 1,192
  Beijing Urban Construction Investment & Development Co. Ltd. Class A 1,706,976 1,190
* MCC Meili Cloud Computing Industry Investment Co. Ltd. Class A 672,428 1,189
  Shenzhen YHLO Biotech Co. Ltd. Class A 562,515 1,189
  China Sports Industry Group Co. Ltd. Class A 908,800 1,188
  China Publishing & Media Co. Ltd. Class A 1,231,700 1,187
* Guangdong Guanghua Sci-Tech Co. Ltd. Class A 388,542 1,186
* Geo-Jade Petroleum Corp. Class A 3,552,000 1,185
  Sunyard Technology Co. Ltd. Class A 483,327 1,184
  Amoy Diagnostics Co. Ltd. Class A 368,460 1,183
  Sino Biological Inc. Class A 110,770 1,182
  Guangdong Vanward New Electric Co. Ltd. Class A 727,140 1,181
  Beijing Bei Mo Gao Ke Friction Material Co. Ltd. Class A 281,658 1,180
  PharmaBlock Sciences Nanjing Inc. Class A 195,905 1,176
  Liaoning Chengda Biotechnology Co. Ltd. Class A 304,927 1,175
* Guangdong Lyric Robot Automation Co. Ltd. Class A 135,168 1,174
  Jiangsu Guomao Reducer Co. Ltd. Class A 510,092 1,171
* Xian International Medical Investment Co. Ltd. Class A 1,732,500 1,168
  Fujian Boss Software Development Co. Ltd. Class A 609,033 1,167
  Befar Group Co. Ltd. Class A 1,918,734 1,165
  Winall Hi-Tech Seed Co. Ltd. Class A 935,130 1,165
  Toread Holdings Group Co. Ltd. Class A 884,800 1,164
* Shenzhen Baoming Technology Co. Ltd. Class A 154,200 1,163
* Beijing Jingyuntong Technology Co. Ltd. Class A 2,014,403 1,161
* Bio-Thera Solutions Ltd. Class A 298,835 1,161
  Hunan Jiudian Pharmaceutical Co. Ltd. Class A 498,400 1,161
  Guizhou Tyre Co. Ltd. Class A 1,654,571 1,160
  Jinhui Liquor Co. Ltd. Class A 414,400 1,159
* Global Infotech Co. Ltd. Class A 388,600 1,158
* Shanghai Medicilon Inc. Class A 116,916 1,157
  CECEP Environmental Protection Co. Ltd. Class A 1,309,500 1,156
* Shanying International Holding Co. Ltd. Class A 4,633,725 1,153
  Jiang Su Suyan Jingshen Co. Ltd. Class A 761,500 1,152
  Wuhan East Lake High Technology Group Co. Ltd. Class A 833,000 1,152
* Anhui ZhongDianXinLong Science & Technology Co. Ltd. Class A 671,702 1,151
  Changzheng Engineering Technology Co. Ltd. Class A 430,580 1,149
* JC Finance & Tax Interconnect Holdings Ltd. Class A 725,140 1,149
* Hongbo Co. Ltd. Class A 456,950 1,148
* Kingsignal Technology Co. Ltd. Class A 620,360 1,146
  Fujian Septwolves Industry Co. Ltd. Class A 916,109 1,145
  Hangzhou Sunrise Technology Co. Ltd. Class A 524,066 1,145
  Milkyway Intelligent Supply Chain Service Group Co. Ltd. Class A 137,000 1,145
* Jiangsu Lopal Tech Group Co. Ltd. Class A 456,301 1,145
  Huafu Fashion Co. Ltd. Class A 1,703,810 1,145
* Sichuan Haite High-tech Co. Ltd. Class A 649,180 1,145
  Shandong Denghai Seeds Co. Ltd. Class A 864,118 1,144
* Hainan Drinda New Energy Technology Co. Ltd. Class A 192,090 1,143
  Zhongyuan Environment-Protection Co. Ltd. Class A 923,568 1,142
  Jinhong Gas Co. Ltd. Class A 400,509 1,142
  Double Medical Technology Inc. Class A 162,000 1,138
  Tongyu Communication Inc. Class A 433,587 1,133
32

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Anhui Construction Engineering Group Co. Ltd. Class A 1,699,609 1,132
  Luoniushan Co. Ltd. Class A 1,097,907 1,132
  Shandong Yisheng Livestock & Poultry Breeding Co. Ltd. Class A 895,644 1,132
*,3 Shenzhen Gongjin Electronics Co. Ltd. Class A 690,588 1,132
  ZhongMan Petroleum & Natural Gas Group Corp. Ltd. Class A 382,700 1,130
* Sun Create Electronics Co. Ltd. Class A 304,876 1,128
* Fujian Snowman Group Co. Ltd. Class A 724,468 1,126
  Wuhan Fingu Electronic Technology Co. Ltd. Class A 641,863 1,126
  EIT Environmental Development Group Co. Ltd. Class A 345,501 1,126
  Shanghai Bright Power Semiconductor Co. Ltd. Class A 79,389 1,126
* Harbin Pharmaceutical Group Co. Ltd. Class A 2,186,931 1,126
  China CYTS Tours Holding Co. Ltd. Class A 825,868 1,126
* Kunwu Jiuding Investment Holdings Co. Ltd. Class A 425,267 1,125
  Shanghai Shibei Hi-Tech Co. Ltd. Class A 1,294,230 1,124
* Jinneng Holding Shanxi Electric Power Co. Ltd. Class A 2,698,046 1,123
  Hangzhou Onechance Tech Corp. Class A 262,325 1,123
  Ningxia Building Materials Group Co. Ltd. Class A 594,588 1,123
* Hainan Haiyao Co. Ltd. Class A 1,301,400 1,120
  Changjiang & Jinggong Steel Building Group Co. Ltd. Class A 1,872,197 1,120
  Qingdao Gaoce Technology Co. Ltd. Class A 694,939 1,118
  Suzhou Gold Mantis Construction Decoration Co. Ltd. Class A 2,340,005 1,118
* Nanfang Zhongjin Environment Co. Ltd. Class A 1,775,883 1,113
  Shenzhen Click Technology Co. Ltd. Class A 420,000 1,112
  CTS International Logistics Corp. Ltd. Class A 1,278,662 1,110
  Guizhou Gas Group Corp. Ltd. Class A 1,118,272 1,108
  Sunflower Pharmaceutical Group Co. Ltd. Class A 538,108 1,104
  Zhejiang Asia-Pacific Mechanical & Electronic Co. Ltd. Class A 552,800 1,103
  Xinjiang Xuefeng Sci-Tech Group Co. Ltd. Class A 864,200 1,103
  Shenzhen Laibao Hi-tech Co. Ltd. Class A 702,487 1,102
  Solareast Holdings Co. Ltd. Class A 775,159 1,102
* Taiyuan Heavy Industry Co. Ltd. Class A 2,819,613 1,102
  Zhejiang Ausun Pharmaceutical Co. Ltd. Class A 763,490 1,100
  Biem.L.Fdlkk Garment Co. Ltd. Class A 489,664 1,100
  Anhui Huaheng Biotechnology Co. Ltd. Class A 218,225 1,099
* Piesat Information Technology Co. Ltd. Class A 254,322 1,099
  NanJi E-Commerce Co. Ltd. Class A 2,206,043 1,096
  Sichuan Jiuyuan Yinhai Software Co. Ltd. Class A 403,091 1,093
  Leshan Giantstar Farming & Husbandry Corp. Ltd. Class A 423,600 1,093
* Wuxi Huadong Heavy Machinery Co. Ltd. Class A 1,022,158 1,092
  Shandong WIT Dyne Health Co. Ltd. Class A 227,050 1,090
  Beijing Strong Biotechnologies Inc. Class A 565,885 1,087
* Client Service International Inc. Class A 432,967 1,086
  Beijing SL Pharmaceutical Co. Ltd. Class A 1,024,046 1,086
* Baosheng Science & Technology Innovation Co. Ltd. Class A 1,451,724 1,083
* Beijing Philisense Technology Co. Ltd. Class A 1,370,633 1,081
* China Reform Health Management & Services Group Co. Ltd. Class A 771,892 1,078
  Ningxia Western Venture Industrial Co. Ltd. Class A 1,478,651 1,072
* Guoguang Electric Co. Ltd. Class A 480,600 1,072
  Xizi Clean Energy Equipment Manufacturing Co. Ltd. Class A 476,218 1,072
  Changshu Tianyin Electromechanical Co. Ltd. Class A 412,893 1,070
  Shenzhen Invt Electric Co. Ltd. Class A 844,252 1,069
  Zhejiang Qianjiang Motorcycle Co. Ltd. Class A 473,849 1,069
  Appotronics Corp. Ltd. Class A 421,869 1,069
  Bros Eastern Co. Ltd. Class A 1,423,289 1,069
  Rizhao Port Co. Ltd. Class A 2,389,100 1,068
  Suning Universal Co. Ltd. Class A 2,979,759 1,067
  Hanyu Group Joint-Stock Co. Ltd. Class A 532,400 1,066
* Shenzhen Fine Made Electronics Group Co. Ltd. Class A 215,200 1,066
* Zhejiang Huatong Meat Products Co. Ltd. Class A 702,200 1,065
  Huadian Heavy Industries Co. Ltd. Class A 1,019,585 1,064
  Sumavision Technologies Co. Ltd. Class A 1,336,200 1,061
  Zhejiang Construction Investment Group Co. Ltd. Class A 803,378 1,061
  Suzhou New District Hi-Tech Industrial Co. Ltd. Class A 1,269,206 1,061
  Shandong Jinjing Science & Technology Co. Ltd. Class A 1,433,996 1,058
* Top Energy Co. Ltd. Shanxi Class A 1,237,044 1,054
  Hangzhou Haoyue Personal Care Co. Ltd. Class A 229,453 1,052
* Hainan Haiqi Transportation Group Co. Ltd. Class A 264,700 1,051
  Shenzhen Tagen Group Co. Ltd. Class A 1,970,094 1,049
  Luolai Lifestyle Technology Co. Ltd. Class A 784,283 1,049
  Wushang Group Co. Ltd. Class A 745,977 1,047
33

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Juewei Food Co. Ltd. Class A 545,120 1,047
  Jinlei Technology Co. Ltd. Class A 253,900 1,046
* CGN Nuclear Technology Development Co. Ltd. Class A 918,427 1,045
  Mesnac Co. Ltd. Class A 860,489 1,044
* Tianjin Benefo Tejing Electric Co. Ltd. Class A 1,083,766 1,043
* China Fortune Land Development Co. Ltd. Class A 3,480,043 1,039
  Qinhuangdao Port Co. Ltd. Class A 1,948,800 1,038
* UTour Group Co. Ltd. Class A 1,051,725 1,037
  Shenzhen Heungkong Holding Co. Ltd. Class A 3,521,818 1,035
  Three Squirrels Inc. Class A 311,840 1,033
  Qingdao Eastsoft Communication Technology Co. Ltd. Class A 475,500 1,027
  China Animal Husbandry Industry Co. Ltd. Class A 950,266 1,027
  Shanghai Baolong Automotive Corp. Class A 193,300 1,024
  Xinxiang Chemical Fiber Co. Ltd. Class A 1,663,349 1,023
  Longhua Technology Group Luoyang Co. Ltd. Class A 864,300 1,023
  Shandong Xinhua Pharmaceutical Co. Ltd. Class A 457,342 1,019
  Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class A 846,120 1,018
  Zhejiang Hangmin Co. Ltd. Class A 1,012,684 1,018
  Hangzhou Weiguang Electronic Co. Ltd. Class A 202,020 1,017
* Konka Group Co. Ltd. Class A 1,329,700 1,014
  Lushang Freda Pharmaceutical Co. Ltd. Class A 925,879 1,013
* Baotailong New Materials Co. Ltd. Class A 1,890,100 1,011
  Edan Instruments Inc. Class A 517,400 1,008
  Zhongtong Bus Holding Co. Ltd. Class A 607,400 1,003
  Puyang Refractories Group Co. Ltd. Class A 1,231,481 1,002
  BMC Medical Co. Ltd. Class A 87,571 1,002
  CSG Holding Co. Ltd. Class A 1,495,900 1,000
* Guangdong DFP New Material Group Co. Ltd. 1,459,100 999
* Hunan Er-Kang Pharmaceutical Co. Ltd. Class A 1,968,079 999
  Shanghai Kaibao Pharmaceutical Co. Ltd. Class A 1,150,408 998
  Yotrio Group Co. Ltd. Class A 1,839,350 998
  Guangzhou Guangri Stock Co. Ltd. Class A 728,000 997
* Guizhou Zhongyida Co. Ltd. Class A 631,800 997
  Hangzhou Advance Gearbox Group Co. Ltd. Class A 389,709 995
  Hubei Chutian Smart Communication Co. Ltd. Class A 1,737,600 994
* Zhejiang Jingxing Paper JSC Ltd. Class A 1,126,300 994
  Jade Bird Fire Co. Ltd. Class A 631,164 993
* B-Soft Co. Ltd. Class A 1,485,966 993
  Guangdong Marubi Biotechnology Co. Ltd. Class A 204,429 992
  Nanjing Kangni Mechanical & Electrical Co. Ltd. Class A 926,835 989
* Shanghai AJ Group Co. Ltd. Class A 1,248,598 987
  Center International Group Co. Ltd. Class A 467,600 985
  Joyoung Co. Ltd. Class A 727,292 984
  Arctech Solar Holding Co. Ltd. Class A 163,228 983
  Chongqing Water Group Co. Ltd. Class A 1,484,150 983
* Beijing UniStrong Science & Technology Co. Ltd. Class A 758,400 981
  Anhui Hengyuan Coal Industry & Electricity Power Co. Ltd. Class A 974,471 981
  Jiangsu Hengshun Vinegar Industry Co. Ltd. Class A 856,902 980
  Shanghai Shunho New Materials Technology Co. Ltd. Class A 1,023,800 980
  Focused Photonics Hangzhou Inc. Class A 419,596 980
  Jiangsu Changhai Composite Materials Co. Ltd. Class A 469,128 976
* Feitian Technologies Co. Ltd. Class A 392,500 976
* Jiangyin Hengrun Heavy Industries Co. Ltd. Class A 426,010 976
  Zhejiang Hailide New Material Co. Ltd. Class A 1,186,917 975
  Shanghai Bright Meat Group Co. Ltd. Class A 1,019,098 975
  Guangdong Kinlong Hardware Products Co. Ltd. Class A 304,850 973
  Sufa Technology Industry Co. Ltd. CNNC Class A 328,659 972
  FSPG Hi-Tech Co. Ltd. Class A 885,500 970
  AUCMA Co. Ltd. Class A 971,301 968
* Anyang Iron & Steel Inc. Class A 2,716,980 967
  FIYTA Precision Technology Co. Ltd. Class A 420,085 965
  Shenzhen Center Power Tech Co. Ltd. Class A 299,450 965
* Anhui Golden Seed Winery Co. Ltd. Class A 659,801 964
  Sanchuan Wisdom Technology Co. Ltd. Class A 967,300 964
* Kunshan Kersen Science & Technology Co. Ltd. Class A 523,268 962
* Henan Yuneng Holdings Co. Ltd. Class A 1,133,000 960
  Nanjing Vazyme Biotech Co. Ltd. Class A 290,746 960
  Black Peony Group Co. Ltd. Class A 798,000 959
  Yechiu Metal Recycling China Ltd. Class A 2,176,400 957
* China High Speed Railway Technology Co. Ltd. Class A 2,366,297 957
34

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Guangdong Goworld Co. Ltd. Class A 521,444 952
* Jiangsu Zongyi Co. Ltd. Class A 1,224,100 950
  Chengdu Hongqi Chain Co. Ltd. Class A 1,222,800 946
  Rastar Group Class A 1,078,500 946
  Shandong Bohui Paper Industrial Co. Ltd. Class A 1,345,900 944
  Streamax Technology Co. Ltd. Class A 145,100 944
  Tayho Advanced Materials Group Co. Ltd. Class A 668,261 943
  Toly Bread Co. Ltd. Class A 1,229,539 942
  Dazhong Transportation Group Co. Ltd. Class B 4,483,348 941
  Chengdu Fusen Noble-House Industrial Co. Ltd. Class A 588,803 940
  JS Corrugating Machinery Co. Ltd. Class A 532,900 937
  Shenzhen Changhong Technology Co. Ltd. Class A 485,400 936
  Sinosteel Engineering & Technology Co. Ltd. Class A 1,040,200 936
* Changzhou Tronly New Electronic Materials Co. Ltd. Class A 489,814 933
  Shandong Jincheng Pharmaceutical Group Co. Ltd. Class A 379,500 932
* Beijing Aerospace Changfeng Co. Ltd. Class A 431,387 931
  Qiming Information Technology Co. Ltd. Class A 334,674 928
  Yixintang Pharmaceutical Group Co. Ltd. Class A 490,554 925
  Chongqing Port Co. Ltd. Class A 1,210,600 923
  Lihuayi Weiyuan Chemical Co. Ltd. Class A 463,100 922
  Wuxi Paike New Materials Technology Co. Ltd. Class A 93,800 921
* Jiangsu Hongdou Industrial Co. Ltd. Class A 2,523,975 921
  Wellhope Foods Co. Ltd. Class A 854,101 921
* Beijing Electronic Zone High-tech Group Co. Ltd. Class A 1,024,969 920
* China Union Holdings Ltd. Class A 1,594,400 918
  HeiLongJiang ZBD Pharmaceutical Co. Ltd. Class A 578,600 918
  Zhejiang Garden Biopharmaceutical Co. Ltd. Class A 474,450 918
  Yuneng Technology Co. Ltd. Class A 120,197 917
* Yibin Tianyuan Group Co. Ltd. Class A 1,118,558 915
* Jolywood Suzhou Sunwatt Co. Ltd. Class A 1,067,710 913
  Shenzhen Hepalink Pharmaceutical Group Co. Ltd. Class A 534,001 913
  Jiajiayue Group Co. Ltd. Class A 603,492 912
  Zhejiang China Light & Textile Industrial City Group Co. Ltd. Class A 1,671,024 912
  Shanghai Pudong Construction Co. Ltd. Class A 803,524 911
  Tungkong Inc. Class A 556,076 910
  Xiamen Port Development Co. Ltd. Class A 618,916 910
  Ningbo Peacebird Fashion Co. Ltd. Class A 451,729 910
* Guangdong Shenglu Telecommunication Tech Co. Ltd. Class A 747,037 905
  Zhejiang Vie Science & Technology Co. Ltd. Class A 460,400 904
  Unilumin Group Co. Ltd. Class A 872,038 904
* Sino GeoPhysical Co. Ltd. Class A 319,165 903
  Hualan Biological Vaccine Inc. Class A 291,400 899
  YanTai Shuangta Food Co. Ltd. Class A 1,141,500 899
  Suzhou Oriental Semiconductor Co. Ltd. Class A 87,786 896
* Xinjiang Ba Yi Iron & Steel Co. Ltd. Class A 1,433,500 895
  Guotai Epoint Software Co. Ltd. Class A 233,530 895
  Zhejiang Runtu Co. Ltd. Class A 868,351 894
* Wutong Holding Group Co. Ltd. Class A 1,355,722 894
* Hiconics Eco-energy Technology Co. Ltd. Class A 1,066,400 894
  Orient International Enterprise Ltd. Class A 757,400 890
  Guangxi LiuYao Group Co. Ltd. Class A 339,186 889
  Beijing CTJ Information Technology Co. Ltd. Class A 282,693 887
  Nanjing Xinlian Electronics Co. Ltd. Class A 855,041 886
* Guang Dong Tloong Technology Group Co. Ltd. Class A 723,970 886
  Citychamp Dartong Advanced Materials Co. Ltd. 1,594,333 882
  Xiamen Jihong Technology Co. Ltd. Class A 336,100 881
  North Huajin Chemical Industries Co. Ltd. Class A 1,234,503 881
  Nanjing Sciyon Wisdom Technology Group Co. Ltd. Class A 208,346 880
  Jiangsu Rainbow Heavy Industries Co. Ltd. Class A 933,236 880
* China Zhonghua Geotechnical Engineering Group Co. Ltd. Class A 1,662,100 880
* INKON Life Technology Co. Ltd. Class A 587,200 879
  Hefei Department Store Group Co. Ltd. Class A 932,417 878
* Shenzhen Minglida Precision Technology Co. Ltd. Class A 302,600 876
  Shenzhen Das Intellitech Co. Ltd. Class A 1,903,796 876
  Changchun Faway Automobile Components Co. Ltd. Class A 660,868 875
  Guangzhou Zhiguang Electric Co. Ltd. Class A 749,700 874
* Great Chinasoft Technology Co. Ltd. Class A 941,500 873
  Sanjiang Shopping Club Co. Ltd. Class A 448,200 873
* Luoxin Pharmaceuticals Group Stock Co. Ltd. Class A 1,171,610 873
  Shenzhen Jieshun Science & Technology Industry Co. Ltd. Class A 636,526 872
35

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Cangzhou Mingzhu Plastic Co. Ltd. Class A 1,329,097 871
* YaGuang Technology Group Co. Ltd. Class A 1,047,200 870
  Shanghai Flyco Electrical Appliance Co. Ltd. Class A 171,600 869
* Shenzhen Properties & Resources Development Group Ltd. Class A 552,952 868
* Transwarp Technology Shanghai Co. Ltd. Class A 95,101 868
* Shenzhen Jinjia Group Co. Ltd. Class A 1,382,336 867
  Bear Electric Appliance Co. Ltd. Class A 127,600 865
  Guizhou Xinbang Pharmaceutical Co. Ltd. Class A 1,609,931 864
* Shenzhen Neptunus Bioengineering Co. Ltd. Class A 2,438,150 864
  Beijing Water Business Doctor Co. Ltd. Class A 844,674 863
  Dazhong Transportation Group Co. Ltd. Class A 1,039,000 862
  MYS Group Co. Ltd. Class A 1,417,892 862
* Shenzhen New Nanshan Holding Group Co. Ltd. Class A 1,970,144 862
  KingClean Electric Co. Ltd. Class A 238,900 860
  Xilinmen Furniture Co. Ltd. Class A 357,900 860
* Hunan New Wellful Co. Ltd. Class A 974,000 860
  Tianjin TEDA Resources Recycling Group Co. Ltd. Class A 1,439,243 859
  Newcapec Electronics Co. Ltd. Class A 488,335 859
* NSFOCUS Technologies Group Co. Ltd. Class A 736,318 858
  M-Grass Ecology & Environment Group Co. Ltd. Class A 1,463,420 857
  China West Construction Group Co. Ltd. Class A 923,156 857
* Chengdu New Tianfu Culture Tourism Development Co. Ltd. Class A 1,172,450 857
  Time Publishing & Media Co. Ltd. Class A 662,480 857
  Jiangling Motors Corp. Ltd. Class A 303,198 856
* Beijing Join-Cheer Software Co. Ltd. Class A 774,680 856
  Cangzhou Dahua Co. Ltd. Class A 493,600 854
* China Agriculture Development Seed Group Co. Ltd. Class A 943,400 852
  Luyang Energy-Saving Materials Co. Ltd. 509,771 850
* DBAPP Security Ltd. Class A 105,429 849
  Liaoning Energy Industry Co. Ltd. Class A 1,472,900 847
  ZYNP Corp. Class A 522,900 847
* Guizhou Zhenhua E-chem Inc. Class A 406,045 847
  Jiangling Motors Corp. Ltd. Class B 635,970 845
* Beijing Global Safety Technology Co. Ltd. Class A 250,939 845
  Yabao Pharmaceutical Group Co. Ltd. Class A 893,483 845
* Daheng New Epoch Technology Inc. Class A 376,900 844
  Hongbaoli Group Corp. Ltd. Class A 714,859 844
* Phenix Optical Co. Ltd. Class A 275,600 844
  Shenzhen Textile Holdings Co. Ltd. Class A 444,475 843
* Hubei Century Network Technology Co. Ltd. Class A 465,300 843
* Shenzhen Anche Technologies Co. Ltd. Class A 168,400 843
* RiseSun Real Estate Development Co. Ltd. Class A 3,727,529 842
* Shanghai Jiao Yun Co. Ltd. Class A 936,690 840
  Emei Shan Tourism Co. Ltd. Class A 478,100 839
  Shanxi Blue Flame Holding Co. Ltd. Class A 824,336 839
  Shenzhen Tellus Holding Co. Ltd. Class A 329,607 839
  Jiangsu Huaxicun Co. Ltd. Class A 799,400 837
* Guangdong Yowant Technology Group Co. Ltd. Class A 897,804 834
  Changhong Meiling Co. Ltd. Class A 852,328 833
  Hubei Jiuzhiyang Infrared System Co. Ltd. Class A 151,237 833
* Huludao Zinc Industry Co. Class A 1,526,300 831
  Shandong Huatai Paper Industry Shareholding Co. Ltd. Class A 1,589,829 831
* Truking Technology Ltd. Class A 527,800 831
  Guangxi Wuzhou Communications Co. Ltd. Class A 1,390,719 831
  Northeast Pharmaceutical Group Co. Ltd. Class A 1,064,270 830
  Bestsun Energy Co. Ltd. Class A 1,400,600 830
* Henan Ancai Hi-Tech Co. Ltd. Class A 1,024,750 829
* Tongding Interconnection Information Co. Ltd. Class A 1,126,300 829
  Qingdao Hanhe Cable Co. Ltd. Class A 1,571,104 828
* ADAMA Ltd. Class A 915,100 827
  Jiangxi Huangshanghuang Group Food Co. Ltd. Class A 462,301 826
* Huayi Brothers Media Corp. Class A 2,343,802 826
* Jilin Yatai Group Co. Ltd. Class A 3,081,167 824
  Anhui Korrun Co. Ltd. Class A 251,860 823
* Shenzhen Centralcon Investment Holding Co. Ltd. Class A 753,044 819
  Guangzhou Hengyun Enterprises Holdings Ltd. Class A 821,731 818
* New Journey Health Technology Group Co. Ltd. Class A 2,596,000 817
  Xiangyu Medical Co. Ltd. Class A 107,228 815
  Zhuhai Port Co. Ltd. Class A 1,050,000 815
  Guangdong Hongtu Technology Holdings Co. Ltd. Class A 448,700 814
36

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Hunan Aihua Group Co. Ltd. Class A 335,506 813
  Guilin Sanjin Pharmaceutical Co. Ltd. Class A 385,200 809
  Jiangsu Lianyungang Port Co. Ltd. Class A 1,000,621 808
  Beijing Sanlian Hope Shin-Gosen Technical Service Co. Ltd. Class A 345,642 808
  Shanghai Xinhua Media Co. Ltd. Class A 835,400 807
  Guangdong Shaoneng Group Co. Ltd. Class A 1,112,040 806
  Beijing Jiaxun Feihong Electrical Co. Ltd. Class A 611,600 806
  Haining China Leather Market Co. Ltd. Class A 1,252,410 806
  Vontron Technology Co. Ltd. Class A 423,300 805
  Hangxiao Steel Structure Co. Ltd. Class A 2,110,635 805
  Hangzhou Jiebai Group Co. Ltd. Class A 778,557 805
* Zhongbai Holdings Group Co. Ltd. Class A 794,489 804
  Dashang Co. Ltd. Class A 323,433 800
  Goldcard Smart Group Co. Ltd. Class A 389,110 797
  Jiangsu SINOJIT Wind Energy Technology Co. Ltd. Class A 1,008,227 797
  CITIC Press Corp. Class A 192,900 796
  Changchun BCHT Biotechnology Co. Ltd. Class A 258,487 795
  Shenzhen Fuanna Bedding & Furnishing Co. Ltd. Class A 784,540 794
* Beijing Science Sun Pharmaceutical Co. Ltd. Class A 453,922 794
* Lingyuan Iron & Steel Co. Ltd. Class A 2,397,170 792
* Shanghai Shenda Co. Ltd. Class A 1,050,800 792
  Shanghai Jinfeng Wine Co. Ltd. Class A 986,045 791
  Shandong New Beiyang Information Technology Co. Ltd. Class A 721,300 789
  Zhejiang Yonggui Electric Equipment Co. Ltd. Class A 330,670 789
  Canny Elevator Co. Ltd. Class A 764,373 789
* Tangrenshen Group Co. Ltd. Class A 1,175,650 788
  Zhuhai Huajin Capital Co. Ltd. Class A 381,017 786
  Beijing Sanyuan Foods Co. Ltd. Class A 1,155,178 786
* Inspur Software Co. Ltd. Class A 329,798 785
*,3 Guangzhou Hangxin Aviation Technology Co. Ltd. Class A 279,400 785
  Rainbow Digital Commercial Co. Ltd. Class A 1,030,799 783
  Bafang Electric Suzhou Co. Ltd. Class A 198,917 782
* Beijing Huayuan Xinhang Holding Co. Ltd. Class A 2,642,075 782
  Chongqing Pharscin Pharmaceutical Co. Ltd. Class A 337,000 777
  Guangdong Guanhao High-Tech Co. Ltd. Class A 1,698,100 776
* Suzhou Chunxing Precision Mechanical Co. Ltd. Class A 1,075,500 776
* Hubei Broadcasting & Television Information Network Co. Ltd. Class A 914,000 775
  Henan Hengxing Science & Technology Co. Ltd. Class A 1,425,295 775
  Keshun Waterproof Technologies Co. Ltd. Class A 1,101,860 775
* Shanxi Guoxin Energy Corp. Ltd. Class A 1,561,596 775
  Beijing SDL Technology Co. Ltd. Class A 660,800 774
  Sunvim Group Co. Ltd. Class A 909,600 766
  Fujian Dongbai Group Co. Ltd. Class A 876,300 763
* KBC Corp. Ltd. Class A 172,153 763
  Guangxi Energy Co. Ltd. Class A 1,383,240 763
* Guangdong Zhongnan Iron & Steel Co. Ltd. Class A 2,019,500 762
  5I5J Holding Group Co. Ltd. Class A 1,884,803 761
  Suzhou Electrical Apparatus Science Academy Co. Ltd. Class A 884,800 760
  Weihai Guangtai Airport Equipment Co. Ltd. Class A 527,943 759
  Vatti Corp. Ltd. Class A 842,448 757
  Jinneng Science & Technology Co. Ltd. Class A 858,655 757
* Hanwang Technology Co. Ltd. Class A 231,900 756
  Fuan Pharmaceutical Group Co. Ltd. Class A 1,197,100 756
  Monalisa Group Co. Ltd. Class A 349,604 754
* HPGC Renmintongtai Pharmaceutical Corp. Class A 619,134 753
* Xi'an Tian He Defense Technology Co. Ltd. Class A 427,600 751
  East China Engineering Science & Technology Co. Ltd. Class A 454,900 750
  Shandong Xiantan Co. Ltd. Class A 847,492 750
* Shenzhen Sea Star Technology Co. Ltd. Class A 588,500 749
  Jiangsu Changbao Steeltube Co. Ltd. Class A 816,700 749
  Changshu Fengfan Power Equipment Co. Ltd. Class A 1,109,328 749
  Hongli Zhihui Group Co. Ltd. Class A 716,500 747
  Wuhan Keqian Biology Co. Ltd. Class A 327,993 747
  Gansu Yasheng Industrial Group Co. Ltd. Class A 1,709,100 745
* Beijing Baination Pictures Co. Ltd. Class A 847,100 743
* Saurer Intelligent Technology Co. Ltd. Class A 1,774,600 742
  Hangzhou Cable Co. Ltd. Class A 652,000 742
  Shenzhen Xinyichang Technology Co. Ltd. Class A 75,200 742
  Anhui Huilong Agricultural Means of Production Co. Ltd. Class A 914,840 741
* ABA Chemicals Corp. Class A 726,200 741
37

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Nanjing Cosmos Chemical Co. Ltd. Class A 383,600 741
* Shunfa Hengneng Corp. Class A 1,684,921 740
  Tangshan Sunfar Silicon Industry Co. Ltd. Class A 281,960 737
  Cachet Pharmaceutical Co. Ltd. Class A 373,743 736
* Sinopec Oilfield Equipment Corp. Class A 719,342 735
  Shanghai Jin Jiang Online Network Service Co. Ltd. Class B 1,448,425 734
  Zhejiang Fuchunjiang Environmental Thermoelectric Co. Ltd. Class A 1,020,200 734
  Shenzhen Topraysolar Co. Ltd. Class A 1,427,758 733
* Jiangsu Changqing Agrochemical Co. Ltd. Class A 862,109 732
  Opple Lighting Co. Ltd. Class A 298,600 730
  Create Technology & Science Co. Ltd. Class A 462,907 728
* VanJee Technology Co. Ltd. Class A 201,160 725
  Ningbo Ligong Environment & Energy Technology Co. Ltd. Class A 408,869 724
  Foshan Nationstar Optoelectronics Co. Ltd. Class A 589,283 723
* XGimi Tech Co. Ltd. Class A 50,158 723
  Duolun Technology Corp. Ltd. Class A 587,777 721
* Shenyang Jinbei Automotive Co. Ltd. Class A 1,097,901 719
* Fujian Rongji Software Co. Ltd. Class A 609,300 719
* Eastone Century Technology Co. Ltd. Class A 843,315 718
* Beijing North Star Co. Ltd. Class A 2,701,615 718
* Yijiahe Technology Co. Ltd. Class A 167,000 717
  Songz Automobile Air Conditioning Co. Ltd. Class A 575,000 715
* H&R Century Union Corp. Class A 709,000 711
* Beijing Thunisoft Corp. Ltd. Class A 630,420 710
* Beijing Sinohytec Co. Ltd. Class A 168,343 709
  Qinghai Huzhu TianYouDe Highland Barley Spirit Co. Ltd. Class A 525,800 709
  Anhui Huamao Textile Co. Class A 1,074,064 708
* Top Resource Energy Co. Ltd. Class A 847,100 707
* Jiangsu Transimage Technology Co. Ltd. Class A 269,200 705
* Beijing Forever Technology Co. Ltd. Class A 788,894 703
  Shanghai Chlor-Alkali Chemical Co. Ltd. Class A 457,400 703
* Beijing Bohui Innovation Biotechnology Group Co. Ltd. Class A 865,369 701
* Macmic Science & Technology Co. Ltd. Class A 199,224 699
  China Television Media Ltd. Class A 310,000 698
  Wencan Group Co. Ltd. Class A 229,786 698
  Qianjiang Water Resources Development Co. Ltd. Class A 508,971 697
  Shanghai Baosteel Packaging Co. Ltd. Class A 894,100 695
* Inner Mongolia OJing Science & Technology Co. Ltd. Class A 182,980 693
  Shenzhen Topway Video Communication Co. Ltd. Class A 579,700 692
  Jiangsu Yueda Investment Co. Ltd. Class A 904,300 691
  ZhongYeDa Electric Co. Ltd. Class A 501,400 689
  Zhejiang Yasha Decoration Co. Ltd. Class A 1,210,260 685
* Chongqing Yukaifa Co. Ltd. Class A 930,100 684
* China Wuyi Co. Ltd. Class A 1,611,511 682
  Zhejiang Yankon Group Co. Ltd. Class A 1,406,275 682
* Qingdao Doublestar Co. Ltd. Class A 748,900 682
* China Oil HBP Science & Technology Co. Ltd. Class A 1,445,600 682
* Beijing Hualian Department Store Co. Ltd. Class A 2,499,781 682
* World Union Group Inc. Class A 2,085,355 680
  Ligao Foods Co. Ltd. Class A 115,920 679
  Jiangxi Wannianqing Cement Co. Ltd. Class A 828,724 676
  Anhui Sierte Fertilizer Industry Ltd. Co. Class A 798,125 674
* Cybrid Technologies Inc. Class A 410,600 674
  Gem-Year Industrial Co. Ltd. Class A 942,111 673
  Guangdong Great River Smarter Logistics Co. Ltd. Class A 434,798 672
* Jiangsu General Science Technology Co. Ltd. Class A 1,075,440 671
* Zhejiang Founder Motor Co. Ltd. Class A 418,986 668
  Shanghai Rongtai Health Technology Corp. Ltd. Class A 157,170 667
  Tianjin Lisheng Pharmaceutical Co. Ltd. Class A 216,720 667
  Fortune Ng Fung Food Hebei Co. Ltd. Class A 930,674 666
* Deluxe Family Co. Ltd. Class A 1,499,036 666
  Baoxiniao Holding Co. Ltd. Class A 1,203,300 665
* Dongjiang Environmental Co. Ltd. Class A 946,666 663
* Shenzhen Rapoo Technology Co. Ltd. Class A 246,590 661
* Beken Corp. Class A 122,587 661
  Three's Co. Media Group Co. Ltd. Class A 162,808 659
  Shanghai New Huang Pu Industrial Group Co. Ltd. Class A 769,196 659
* Poly Union Chemical Holding Group Co. Ltd. Class A 454,501 657
  Xuchang Yuandong Drive Shaft Co. Ltd. Class A 595,600 656
  Joeone Co. Ltd. Class A 502,277 652
38

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Chongqing Zaisheng Technology Co. Ltd. Class A 971,936 650
  Zhejiang NetSun Co. Ltd. Class A 229,600 649
* Guangdong Meiyan Jixiang Hydropower Co. Ltd. Class A 1,588,500 648
  Shandong Sunway Chemical Group Co. Ltd. Class A 551,832 648
  Dongfeng Electronic Technology Co. Ltd. Class A 367,250 646
  Shenzhen Guangju Energy Co. Ltd. Class A 396,188 646
3 Shandong Shengli Co. Class A 1,228,077 646
  Jinghua Pharmaceutical Group Co. Ltd. Class A 613,171 646
  Jenkem Technology Co. Ltd. Class A 47,933 644
* Anhui Guofeng New Materials Co. Ltd. Class A 716,800 641
  Shanghai Tianchen Co. Ltd. Class A 728,338 639
  Shanghai Kelai Mechatronics Engineering Co. Ltd. Class A 231,500 638
  Shenzhen Sinovatio Technology Co. Ltd. Class A 153,216 637
  Shanghai Zhezhong Group Co. Ltd. Class A 251,700 636
  Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class A 398,657 635
* Guangzhou Pearl River Development Group Co. Ltd. Class A 783,820 632
* Phoenix Shipping Wuhan Co. Ltd. Class A 993,900 631
  Jiangsu Shuangxing Color Plastic New Materials Co. Ltd. Class A 824,285 631
* Long Yuan Construction Group Co. Ltd. Class A 1,342,724 629
  Zhejiang Meida Industrial Co. Ltd. Class A 597,200 626
* Liaoning Shenhua Holdings Co. Ltd. Class A 2,155,700 621
* Zhejiang Orient Gene Biotech Co. Ltd. Class A 165,477 620
  Zhejiang Zhongcheng Packing Material Co. Ltd. Class A 856,121 618
* CanSino Biologics Inc. Class A 55,518 618
* Jiangsu Yinhe Electronics Co. Ltd. Class A 946,533 616
* Chimin Health Management Co. Ltd. Class A 428,400 615
  Dare Power Dekor Home Co. Ltd. Class A 562,739 612
* Shandong Longda Meishi Co. Ltd. Class A 904,000 612
  Integrated Electronic Systems Lab Co. Ltd. Class A 550,069 610
  Nanjing Quanxin Cable Technology Co. Ltd. Class A 295,630 610
  Zhuzhou Qianjin Pharmaceutical Co. Ltd. Class A 406,720 608
* Pubang Landscape Architecture Co. Ltd. Class A 1,835,497 606
  Maccura Biotechnology Co. Ltd. Class A 366,530 603
* Zhejiang Huamei Holding Co. Ltd. Class A 979,100 602
  Era Co. Ltd. Class A 1,005,259 602
* Triumph New Energy Co. Ltd. Class A 385,300 600
  Zhejiang Tony Electronic Co. Ltd. Class A 196,900 600
  Guangdong Guanghong Holdings Co. Ltd. Class A 720,203 599
* Hangzhou Electronic Soul Network Technology Co. Ltd. Class A 216,164 599
* Chengdu Xinzhu Road&Bridge Machinery Co. Ltd. Class A 614,114 598
  Ningbo Cixing Co. Ltd. Class A 598,800 598
  Delixi New Energy Technology Co. Ltd. Class A 189,420 598
* EGing Photovoltaic Technology Co. Ltd. Class A 1,102,074 595
* Berry Genomics Co. Ltd. Class A 322,603 593
* Everbright Jiabao Co. Ltd. Class A 1,502,708 589
  Beijing Beilu Pharmaceutical Co. Ltd. Class A 471,900 588
  Shandong Head Group Co. Ltd. Class A 319,700 586
  Tengda Construction Group Co. Ltd. Class A 1,637,499 585
* Shenzhen Deren Electronic Co. Ltd. Class A 561,151 585
  Jiangsu Jiuding New Material Co. Ltd. 486,200 585
* JinJian Cereals Industry Co. Ltd. Class A 614,000 584
* Shaanxi Construction Machinery Co. Ltd. Class A 1,066,910 584
* Huaren Pharmaceutical Co. Ltd. Class A 1,220,872 583
* Beijing Dinghan Technology Group Co. Ltd. Class A 523,300 581
  Realcan Pharmaceutical Group Co. Ltd. Class A 1,436,010 581
  Shanghai Guangdian Electric Group Co. Ltd. Class A 1,006,700 579
  Shanghai ShenTong Metro Co. Ltd. Class A 465,976 578
* Guangxi Radio & Television Information Network Corp. Ltd. Class A 1,141,600 578
* Yunnan Coal & Energy Co. Ltd. Class A 922,500 575
  New Huadu Technology Co. Ltd. Class A 595,500 575
  CCS Supply Chain Management Co. Ltd. Class A 853,540 573
  Sichuan Meifeng Chemical IND Class A 591,151 572
* Hengdian Entertainment Co. Ltd. Class A 255,322 572
* Jinzhou Yongshan Lithium Co. Ltd. Class A 380,789 569
  Wuxi Commercial Mansion Grand Orient Co. Ltd. Class A 849,347 566
  Tibet Cheezheng Tibetan Medicine Co. Ltd. Class A 157,047 565
  Henan Taloph Pharmaceutical Stock Co. Ltd. Class A 622,730 564
* Beijing Centergate Technologies Holding Co. Ltd. Class A 773,948 562
  Huabao Flavours & Fragrances Co. Ltd. Class A 222,221 562
* Lucky Film Co. Ltd. Class A 528,691 561
39

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Guangdong Shirongzhaoye Co. Ltd. Class A 605,200 557
* Henan Rebecca Hair Products Co. Ltd. Class A 1,267,320 555
  Shenzhen Comix Group Co. Ltd. Class A 612,400 554
  Xiamen Comfort Science & Technology Group Co. Ltd. Class A 564,300 553
* Rongan Property Co. Ltd. Class A 2,008,772 553
* Blue Sail Medical Co. Ltd. Class A 712,564 551
  Beijing Fengjing Automotive Parts Co. Ltd. 1,023,576 550
  Jiangsu Jiangnan High Polymer Fiber Co. Ltd. Class A 1,722,525 550
* Jiangsu Phoenix Property Investment Co. Ltd. Class A 942,520 550
* Guangzhou Pearl River Piano Group Co. Ltd. Class A 781,331 548
  Beijing Bashi Media Co. Ltd. Class A 801,670 546
* Guangdong Hybribio Biotech Co. Ltd. Class A 664,420 544
* Bright Eye Hospital Group Co. Ltd. Class A 101,700 536
  Yantai Changyu Pioneer Wine Co. Ltd. Class A 175,700 531
  Shanghai Titan Scientific Co. Ltd. Class A 151,876 531
  Northern United Publishing & Media Group Co. Ltd. Class A 517,800 527
* Grand Industrial Holding Group Co. Ltd. Class A 460,000 522
  Shanghai Hile Bio-Technology Co. Ltd. Class A 539,541 521
* Heilongjiang Interchina Water Treatment Co. Ltd. Class A 1,329,324 520
* Zhongfu Information Inc. Class A 235,500 520
* Sinochem Equipment Technology Qingdao Co. Ltd. Class A 431,434 518
  Guangdong Delian Group Co. Ltd. Class A 675,035 516
  Guizhou Guihang Automotive Components Co. Ltd. Class A 251,584 513
  Haoxiangni Health Food Co. Ltd. Class A 364,800 513
  Markor International Home Furnishings Co. Ltd. Class A 1,715,635 512
  Jinling Pharmaceutical Co. Ltd. Class A 508,831 511
* Shenyang Chemical Co. Ltd. Class A 944,000 510
  Medicalsystem Biotechnology Co. Ltd. Class A 346,583 508
  Foshan Electrical & Lighting Co. Ltd. Class A 572,900 507
  Shanghai New World Co. Ltd. Class A 479,000 504
  Shandong Homey Aquatic Development Co. Ltd. Class A 1,478,298 499
* Shenzhen Sunmoon Microelectronics Co. Ltd. Class A 87,671 498
  Shandong Wohua Pharmaceutical Co. Ltd. Class A 568,140 497
* China Aluminum International Engineering Corp. Ltd. Class A 664,800 494
  Tianjin Tianyao Pharmaceutical Co. Ltd. Class A 829,500 493
  Guiyang Longmaster Information & Technology Co. Ltd. Class A 246,300 491
* Hubei Fuxing Science & Technology Co. Ltd. Class A 1,382,080 490
* Changchun Gas Co. Ltd. Class A 499,800 489
* Xingmin Intelligent Transportation Systems Group Co. Ltd. Class A 595,626 489
  Jiangsu Xiuqiang Glasswork Co. Ltd. Class A 590,500 484
  Zhejiang Starry Pharmaceutical Co. Ltd. Class A 308,140 482
  Shanghai Bailian Group Co. Ltd. Class B 858,956 480
* Marssenger Kitchenware Co. Ltd. Class A 272,397 480
  Shanghai Yimin Commerce Group Co. Ltd. Class A 793,600 476
* Guizhou Yibai Pharmaceutical Co. Ltd. Class A 806,800 476
* Xiwang Foodstuffs Co. Ltd. Class A 1,046,904 475
  Qingdao Citymedia Co. Ltd. Class A 496,400 474
  Zhejiang Red Dragonfly Footwear Co. Ltd. Class A 566,581 466
* Sichuan Tianyi Comheart Telecom Co. Ltd. Class A 235,600 465
  Wenfeng Great World Chain Development Corp. Class A 1,239,613 463
  Shanghai Jin Jiang Online Network Service Co. Ltd. Class A 210,500 462
*,1,2 Red Star Macalline Group Corp. Ltd. Class H 2,818,370 461
* Der Future Science & Technology Holding Group Co. Ltd. Class A 609,840 461
* Huatian Hotel Group Co. Ltd. Class A 1,001,500 459
  Foshan Electrical & Lighting Co. Ltd. Class B 1,591,461 458
  PKU Healthcare Corp. Ltd. Class A 560,500 457
  Guangxi Nanning Waterworks Group Co. Ltd. Class A 631,800 456
* Shenzhen Silver Basis Technology Co. Ltd. Class A 355,546 456
* China Quanjude Group Co. Ltd. Class A 278,800 451
* Beijing Tianyishangjia New Material Corp. Ltd. Class A 427,125 433
  Bestore Co. Ltd. Class A 243,300 424
  JD.com Inc. ADR 12,744 421
  Duzhe Publishing & Media Co. Ltd. Class A 442,500 419
  Shanghai Xujiahui Commercial Co. Ltd. Class A 342,500 416
* Tuoxin Pharmaceutical Group Co. Ltd. Class A 91,600 414
  Sanlux Co. Ltd. Class A 648,400 407
* Royal Group Co. Ltd. Class A 810,478 407
* Meituan ADR 15,332 404
* Xiaomi Corp. ADR 14,139 392
* Red Star Macalline Group Corp. Ltd. Class A 994,330 387
40

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  China Fangda Group Co. Ltd. Class B 1,811,083 370
* Fujian Green Pine Co. Ltd. Class A 355,400 361
  Ningbo David Medical Device Co. Ltd. Class A 182,500 348
  Whirlpool China Co. Ltd. Class A 236,750 344
  Baida Group Co. Ltd. Class A 256,600 330
  Lu Thai Textile Co. Ltd. Class A 320,200 327
  Zhejiang Gongdong Medical Technology Co. Ltd. Class A 118,188 326
*,3 China South City Holdings Ltd. 23,621,258 325
* CMGE Technology Group Ltd. 6,358,000 323
  Guangzhou Shangpin Home Collection Co. Ltd. Class A 180,977 323
  Thinkingdom Media Group Ltd. Class A 124,581 320
  Huangshan Tourism Development Co. Ltd. Class A 180,601 287
  Shanghai Highly Group Co. Ltd. Class B 432,407 286
  Helens International Holdings Co. Ltd. 2,190,000 282
  Shanghai Haixin Group Co. Class A 285,100 271
  H World Group Ltd. ADR 6,903 266
* Golden Solar New Energy Technology Holdings Ltd. 1,493,761 246
  China Kepei Education Group Ltd. 1,190,000 222
*,3 Orient Group Inc. 3,391,900 172
* Hainan Ruize New Building Material Co. Ltd. Class A 219,000 133
*,3 Xinlun New Materials Co. Ltd. Class A 1,033,500 89
* Agile Group Holdings Ltd. 940,500 51
  Guangzhou Holike Creative Home Co. Ltd. Class A 14,800 22
*,3 Shanghai Shimao Co. Ltd. Class A 273,212 17
* Shanghai Fudan Forward S & T Co. Ltd. Class A 10,910 9
*,3 Tianjin Futong Information Science & Technology Co. Ltd. Class A 1,174,500 —
*,3 Myhome Real Estate Development Group Co. Ltd. Class A 2,630,400 —
*,3 Guangdong Highsun Group Co. Ltd. Class A 1,848,180 —
*,3 Jiangsu Sunshine Co. Ltd. Class A 1,785,755 —
*,3 Jiangsu Zhongnan Construction Group Co. Ltd. Class A 2,118,077 —
*,3 Elion Energy Co. Ltd. Class A 2,693,050 —
*,3 China Grand Automotive Services Group Co. Ltd. Class A 1,344,270 —
*,3 Sichuan Languang Development Co. Ltd. Class A 2,192,132 —
*,3 Yango Group Co. Ltd. Class A 4,010,183 —
*,3 Chongqing Dima Industry Co. Ltd. Class A 868,700 —
*,3 Sundy Land Investment Co. Ltd. Class A 1,281,700 —
*,3 Jilin Zixin Pharmaceutical Industrial Co. Ltd. Class A 833,200 —
*,3 Guangdong Chaohua Technology Co. Ltd. Class A 850,488 —
*,3 Blivex Energy Technology Co. Ltd. Class A 4,172,796 —
*,3 Sou Yu Te Group Co. Ltd. Class A 2,415,182 —
*,3 ChangjiangRunfa Health Industry Co. Ltd. Class A 1,006,830 —
*,3 Pengdu Agriculture & Animal Husbandry Co. Ltd. Class A 4,554,460 —
*,3 Pang Da Automobile Trade Co. Ltd. Class A 12,628,300 —
*,3 Kangmei Pharmaceutical Co. Ltd. 601,990 —
*,3 Zhongtian Financial Group Co. Ltd. Class A 7,563,775 —
*,3 ST JLZX A 393,700 —
*,3 Oceanwide Holdings Co. Ltd. Class A 767,000 —
*,3 Jiangsu Zhongnan Construction Group Co. Ltd. 1,287,637 —
*,3 Zhejiang Akcome New Energy Technology Co. Ltd. 4,404,621 —
*,3 Ningxia Zhongyin Cashmere Co. Ltd. 4,093,100 —
*,3 China Dili Group 38,445,940 —
*,3 Chongqing Dima Industry Co. Ltd. 778,307 —
*,3 Guangdong Huatie Tongda High-speed Railway Equipment Corp. 515,756 —
*,3 China Grand Automotive Services Group Co. Ltd. 6,816,940 —
*,3 Pengdu Agriculture & Animal Husbandry Co. Ltd. 1,531,000 —
*,3 Tunghsu Optoelectronic Technology Co. Ltd. 1,767,600 —
            46,291,341
Colombia (0.1%)
  Grupo Cibest SA ADR 1,094,763 63,540
  Interconexion Electrica SA ESP 5,113,855 33,167
  Ecopetrol SA 43,961,433 20,300
  Cementos Argos SA 7,432,261 19,898
2 Ecopetrol SA ADR 967,589 9,018
  Grupo Cibest SA 3,941 64
            145,987
Czech Republic (0.1%)
  CEZ A/S 1,857,651 113,760
  Komercni Banka A/S 990,498 50,670
1 Moneta Money Bank A/S 3,535,588 29,927
41

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
2 Colt CZ Group SE 218,056 7,925
  Doosan Skoda Power A/S 120,282 2,591
            204,873
Egypt (0.1%)
  Commercial International Bank - Egypt (CIB) 30,648,918 68,440
* Eastern Co. SAE 16,591,765 15,802
  Talaat Moustafa Group 9,803,142 11,935
* EFG Holding S.A.E. 14,407,899 8,584
  Telecom Egypt Co. 6,556,941 6,954
* Fawry for Banking & Payment Technology Services SAE 20,751,239 6,413
* U Consumer Finance 4,641,319 830
            118,958
Greece (0.7%)
  National Bank of Greece SA 11,209,651 164,765
  Eurobank Ergasias Services & Holdings SA 32,997,432 124,123
  Piraeus Financial Holdings SA 14,451,966 112,873
  Alpha Bank SA 27,986,040 109,711
  OPAP SA 2,313,436 47,829
  JUMBO SA 1,479,134 46,937
  Public Power Corp. SA 2,468,043 42,863
  Bank of Cyprus Holdings plc 4,523,234 41,627
  Hellenic Telecommunications Organization SA 2,055,767 38,605
  Motor Oil Hellas Corinth Refineries SA 829,205 24,849
  GEK Terna SA 928,178 24,773
  Optima bank SA 2,425,794 22,465
  Titan SA 491,778 22,020
  Cenergy Holdings SA 839,634 13,912
  Athens International Airport SA 941,060 10,863
  HELLENiQ ENERGY Holdings SA 1,189,860 10,465
* LAMDA Development SA 1,036,542 8,841
  Aegean Airlines SA 495,340 7,519
* Aktor SA Holding Co. Technical & Energy Projects 665,366 6,457
* Intralot SA-Integrated Information Systems & Gaming Services 4,752,251 6,112
  Viohalco SA 568,387 5,556
  Hellenic Exchanges - Athens Stock Exchange SA 758,766 5,457
  Holding Co. ADMIE IPTO SA 1,577,580 5,425
  Sarantis SA 365,344 5,311
  Athens Water Supply & Sewage Co. SA 511,247 4,092
  Piraeus Port Authority SA 82,046 4,067
  Autohellas Tourist & Trading SA 274,468 3,500
  Quest Holdings SA 370,977 3,012
  Fourlis Holdings SA 595,885 2,818
  ElvalHalcor SA 759,624 2,800
  Ideal Holdings SA 377,664 2,557
  Intracom Holdings SA (Registered) 625,933 2,411
  Ellaktor SA 708,565 1,271
            935,886
Hong Kong (0.1%)
  Want Want China Holdings Ltd. 55,740,000 36,021
*,1,2 Everest Medicines Ltd. 3,222,000 20,322
*,1,2 CARsgen Therapeutics Holdings Ltd. 4,728,000 10,021
  K Wah International Holdings Ltd. 12,701,294 3,611
            69,975
Hungary (0.3%)
  OTP Bank Nyrt. 3,109,436 296,813
  Richter Gedeon Nyrt. 1,827,768 56,303
  MOL Hungarian Oil & Gas plc 5,948,800 52,330
  Magyar Telekom Telecommunications plc 3,837,550 20,113
  Opus Global Nyrt. 4,482,357 7,283
*,2 4iG Nyrt. 496,729 5,934
            438,776
Iceland (0.1%)
1 Arion Banki HF 17,455,556 24,442
  Islandsbanki HF 25,257,671 24,409
  Hagar hf 13,244,702 11,689
* Alvotech SA 1,441,732 10,894
  Festi hf 4,013,077 10,090
  Reitir fasteignafelag hf 8,408,861 8,364
42

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Kvika banki hf 58,647,780 8,161
  Heimar HF 20,296,626 6,106
  Sjova-Almennar Tryggingar hf 11,973,287 4,249
  Eimskipafelag Islands hf 1,277,343 3,134
  Skagi Hf 19,345,383 3,032
* Olgerdin Egill Skallagrims HF 20,951,567 2,751
  Siminn HF 23,146,366 2,559
* Icelandair Group HF 271,737,249 1,778
* Kaldalon hf 5,096,297 1,087
            122,745
India (19.3%)
  HDFC Bank Ltd. 151,239,441 1,681,608
  Reliance Industries Ltd. 90,942,353 1,521,725
  ICICI Bank Ltd. 70,401,311 1,066,765
  Bharti Airtel Ltd. (XNSE) 37,697,260 872,925
  Infosys Ltd. 47,015,524 783,377
  Mahindra & Mahindra Ltd. 12,425,958 487,944
  Tata Consultancy Services Ltd. 13,638,572 469,395
  Bajaj Finance Ltd. 37,476,471 440,146
  Axis Bank Ltd. 30,593,498 424,561
  Larsen & Toubro Ltd. 8,986,322 407,750
  Kotak Mahindra Bank Ltd. 14,591,287 345,650
  Hindustan Unilever Ltd. 11,827,471 328,475
  Maruti Suzuki India Ltd. 1,749,866 318,678
  Sun Pharmaceutical Industries Ltd. 14,220,509 271,083
  HCL Technologies Ltd. 14,042,355 243,651
  NTPC Ltd. 63,272,306 239,992
  Bharat Electronics Ltd. 47,606,900 228,286
  Tata Steel Ltd. 110,280,478 226,959
  State Bank of India 20,703,065 218,572
  UltraTech Cement Ltd. 1,597,341 214,795
* Eternal Ltd. 59,936,897 213,910
  Titan Co. Ltd. 4,890,551 206,371
  Power Grid Corp. of India Ltd. 60,281,633 195,583
  ITC Ltd. 40,015,670 189,415
  Hindalco Industries Ltd. 19,378,658 184,830
  Adani Ports & Special Economic Zone Ltd. 9,814,140 160,501
1 InterGlobe Aviation Ltd. 2,516,213 159,424
  JSW Steel Ltd. 11,623,818 157,839
  Grasim Industries Ltd. 4,719,779 153,621
  Asian Paints Ltd. 5,387,811 152,487
  Oil & Natural Gas Corp. Ltd. 51,678,865 148,719
  Jio Financial Services Ltd. 41,683,446 144,067
  Eicher Motors Ltd. 1,778,022 140,219
  Shriram Finance Ltd. 16,608,109 140,056
  Nestle India Ltd. 9,569,734 137,158
  Tech Mahindra Ltd. 8,309,440 133,190
  Hindustan Aeronautics Ltd. 2,526,761 133,107
  Coal India Ltd. 30,269,171 132,413
  Divi's Laboratories Ltd. 1,697,532 128,875
  Max Healthcare Institute Ltd. 9,891,232 127,868
  Trent Ltd. 2,418,443 127,748
  Tata Motors Passenger Vehicles Ltd. 27,448,243 126,688
1 SBI Life Insurance Co. Ltd. 5,757,711 126,682
  Cipla Ltd. 7,449,513 125,970
* Adani Power Ltd. 69,673,724 123,746
  TVS Motor Co. Ltd. 3,121,239 123,273
  Bajaj Finserv Ltd. 5,104,805 119,979
  Vedanta Ltd. 21,590,468 119,860
  Apollo Hospitals Enterprise Ltd. 1,328,077 114,934
  Tata Consumer Products Ltd. 8,646,632 113,432
  Hero MotoCorp Ltd. 1,728,583 107,899
  Cholamandalam Investment & Finance Co. Ltd. 5,625,489 107,503
  Bharat Petroleum Corp. Ltd. 26,351,507 105,714
1 HDFC Life Insurance Co. Ltd. 12,569,660 103,535
  Britannia Industries Ltd. 1,565,626 102,919
  Tata Power Co. Ltd. 22,392,418 102,057
  Adani Enterprises Ltd. 3,470,004 96,875
* Suzlon Energy Ltd. 145,009,528 96,834
43

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Varun Beverages Ltd. 17,951,728 94,864
  Indian Hotels Co. Ltd. Class A 11,310,411 94,442
  Indian Oil Corp. Ltd. 50,055,845 93,410
  Persistent Systems Ltd. 1,389,720 92,483
*,1 Avenue Supermarts Ltd. 1,948,416 91,103
* PB Fintech Ltd. 4,521,694 90,768
  Bajaj Auto Ltd. 893,906 89,498
  Cummins India Ltd. 1,809,676 88,474
  Power Finance Corp. Ltd. 19,374,666 87,973
  Coforge Ltd. 4,291,760 85,899
  Wipro Ltd. 31,414,960 85,078
  Dr Reddy's Laboratories Ltd. 6,092,175 81,972
*,3 Tata Motors Ltd. 27,240,009 80,013
1 LTIMindtree Ltd. 1,239,141 79,264
1 HDFC Asset Management Co. Ltd. 1,303,813 78,975
  Dixon Technologies India Ltd. 438,419 76,460
  Fortis Healthcare Ltd. 6,534,527 75,261
  BSE Ltd. 2,654,143 74,145
  GAIL India Ltd. 35,871,966 73,800
  DLF Ltd. 8,519,734 72,527
  CG Power & Industrial Solutions Ltd. 8,739,517 72,460
  Info Edge India Ltd. 4,648,154 72,119
* Indus Towers Ltd. 17,560,227 71,960
1 ICICI Lombard General Insurance Co. Ltd. 3,189,611 71,611
  Lupin Ltd. 3,226,308 71,423
  REC Ltd. 16,646,436 70,248
  Samvardhana Motherson International Ltd. 58,865,707 69,814
  Pidilite Industries Ltd. 4,217,248 68,636
  Hindustan Petroleum Corp. Ltd. 12,761,791 68,274
  Ambuja Cements Ltd. 10,619,497 67,529
  Godrej Consumer Products Ltd. 5,345,748 67,327
* One 97 Communications Ltd. 4,590,981 67,317
  Federal Bank Ltd. 24,355,254 64,854
  SRF Ltd. 1,941,410 64,080
* Yes Bank Ltd. 247,111,624 63,305
  United Spirits Ltd. 3,922,355 63,239
* Max Financial Services Ltd. 3,505,132 61,010
  Ashok Leyland Ltd. 37,919,303 60,386
  Jindal Steel Ltd. 4,933,743 59,234
* Swiggy Ltd. 12,784,786 58,973
  Polycab India Ltd. 665,467 57,721
  Marico Ltd. 7,054,911 57,189
  Torrent Pharmaceuticals Ltd. 1,411,432 56,603
  GE Vernova T&D India Ltd. 1,647,748 56,340
  Embassy Office Parks REIT 11,660,772 56,340
  UPL Ltd. 6,747,784 54,726
1 Laurus Labs Ltd. 4,882,837 52,443
  MRF Ltd. 29,416 52,171
  Hyundai Motor India Ltd. 1,894,772 52,025
  Bharat Forge Ltd. 3,454,700 51,511
  Muthoot Finance Ltd. 1,428,465 51,182
  Havells India Ltd. 3,035,068 51,071
  Bharat Heavy Electricals Ltd. 16,963,595 50,679
  Solar Industries India Ltd. 323,994 50,621
1 Lodha Developers Ltd. 3,719,547 50,245
  Bajaj Holdings & Investment Ltd. 356,256 49,368
  Tube Investments of India Ltd. 1,444,966 49,154
* Godrej Properties Ltd. 1,896,337 48,827
  Bosch Ltd. 115,412 48,362
  Voltas Ltd. 3,082,616 48,004
1 AU Small Finance Bank Ltd. 4,847,730 47,897
  Aurobindo Pharma Ltd. 3,732,794 47,884
* Adani Green Energy Ltd. 3,710,996 47,604
  Sundaram Finance Ltd. 915,493 47,425
  APL Apollo Tubes Ltd. 2,342,930 47,256
  Phoenix Mills Ltd. 2,485,023 47,098
  Mphasis Ltd. 1,499,325 46,603
* Vishal Mega Mart Ltd. 27,413,639 44,622
  IDFC First Bank Ltd. 48,339,561 44,509
  Colgate-Palmolive India Ltd. 1,758,370 44,418
44

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  PI Industries Ltd. 1,085,477 43,735
  Dabur India Ltd. 7,910,952 43,430
  Bank of Baroda 13,853,304 43,414
* Adani Energy Solutions Ltd. 3,864,198 42,886
  JSW Energy Ltd. 7,136,551 42,377
* FSN E-Commerce Ventures Ltd. 15,069,745 42,054
  Punjab National Bank 30,394,935 42,049
  Shree Cement Ltd. 131,898 42,031
  WAAREE Energies Ltd. 1,082,337 41,749
  State Bank of India GDR 391,659 41,517
* Siemens Energy India Ltd. 1,143,044 41,054
  Siemens Ltd. 1,176,428 40,986
  Prestige Estates Projects Ltd. 2,086,621 40,981
  ABB India Ltd. 694,791 40,838
  Glenmark Pharmaceuticals Ltd. 1,890,851 40,249
  NHPC Ltd. 42,140,500 40,230
  Mankind Pharma Ltd. 1,498,001 40,210
  SBI Cards & Payment Services Ltd. 4,010,595 39,704
  360 ONE WAM Ltd. 3,220,586 39,195
  NMDC Ltd. 45,739,707 39,020
* Delhivery Ltd. 7,226,995 37,910
  Blue Star Ltd. 1,730,433 37,679
  Coromandel International Ltd. 1,567,844 37,491
  Torrent Power Ltd. 2,527,886 37,452
  Canara Bank 24,025,120 37,045
  Zydus Lifesciences Ltd. 3,343,444 36,730
* GMR Airports Ltd. 34,600,803 36,568
  KEI Industries Ltd. 804,783 36,535
  Page Industries Ltd. 77,157 35,792
  Oil India Ltd. 7,243,731 35,371
* Vodafone Idea Ltd. 354,567,568 34,877
  Multi Commodity Exchange of India Ltd. 332,835 34,655
  Indian Bank 3,581,003 34,608
  Supreme Industries Ltd. 804,131 34,481
  Union Bank of India Ltd. 20,217,212 33,850
  Jubilant Foodworks Ltd. 5,027,490 33,838
  Radico Khaitan Ltd. 959,901 33,837
  Jindal Stainless Ltd. 3,978,378 33,759
  Hitachi Energy India Ltd. 168,579 33,732
  UNO Minda Ltd. 2,393,481 33,317
  JK Cement Ltd. 472,069 33,027
1 Indian Railway Finance Corp. Ltd. 23,664,239 32,850
  Indian Railway Catering & Tourism Corp. Ltd. 4,031,905 32,627
  Biocon Ltd. 7,761,292 32,531
  L&T Finance Ltd. 10,646,804 32,427
1 ICICI Prudential Life Insurance Co. Ltd. 4,864,388 32,373
  Alkem Laboratories Ltd. 522,220 32,364
1 Sona Blw Precision Forgings Ltd. 6,029,873 32,103
  Petronet LNG Ltd. 10,106,980 32,003
  Tata Communications Ltd. 1,502,822 31,736
  National Aluminium Co. Ltd. 11,922,296 31,392
  Oberoi Realty Ltd. 1,559,481 31,222
  Mahindra & Mahindra Financial Services Ltd. 8,750,847 31,077
  Mazagon Dock Shipbuilders Ltd. 1,004,046 30,866
  Hindustan Zinc Ltd. 5,744,785 30,820
* ITC Hotels Ltd. 12,525,396 30,576
* Aditya Birla Capital Ltd. 8,348,467 30,446
  Navin Fluorine International Ltd. 468,358 30,015
  Patanjali Foods Ltd. 4,402,044 29,868
  Oracle Financial Services Software Ltd. 311,191 29,824
  Steel Authority of India Ltd. 19,170,872 29,537
  Kalyan Jewellers India Ltd. 5,106,960 29,291
  Container Corp. of India Ltd. 4,650,886 28,558
  Cholamandalam Financial Holdings Ltd. 1,320,472 28,445
  Tata Elxsi Ltd. 460,022 28,255
  Computer Age Management Services Ltd. 633,909 28,114
  Rail Vikas Nigam Ltd. 7,555,671 27,942
  Balkrishna Industries Ltd. 1,072,620 27,519
  Crompton Greaves Consumer Electricals Ltd. 8,625,217 27,447
* Kaynes Technology India Ltd. 361,869 27,300
45

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Ipca Laboratories Ltd. 1,848,835 26,469
  Dr Reddy's Laboratories Ltd. ADR 1,970,589 26,189
  KPIT Technologies Ltd. 1,967,808 25,844
  Astral Ltd. 1,581,395 25,818
1 PNB Housing Finance Ltd. 2,380,245 24,916
  LIC Housing Finance Ltd. 3,857,187 24,801
  Central Depository Services India Ltd. 1,365,581 24,408
  Apollo Tyres Ltd. 4,321,377 24,403
  Exide Industries Ltd. 5,673,299 24,394
*,1 Krishna Institute of Medical Sciences Ltd. 2,973,873 24,146
  Schaeffler India Ltd. 532,769 24,135
1 Aster DM Healthcare Ltd. 3,155,613 24,092
  Dalmia Bharat Ltd. 1,004,146 23,685
* Amber Enterprises India Ltd. 261,619 23,658
* IndusInd Bank Ltd. 2,584,027 23,134
1 Gland Pharma Ltd. 1,051,590 22,845
1 Brookfield India Real Estate Trust 5,877,415 22,709
  ACC Ltd. 1,067,782 22,612
  Indraprastha Gas Ltd. 9,482,400 22,609
1 Cochin Shipyard Ltd. 1,121,631 22,583
1 Nippon Life India Asset Management Ltd. 2,289,900 22,549
  Manappuram Finance Ltd. 7,330,124 22,228
1 RBL Bank Ltd. 6,046,825 22,209
  Motilal Oswal Financial Services Ltd. 2,004,103 22,078
  Redington Ltd. 7,686,516 21,947
  Apar Industries Ltd. 224,330 21,897
* Sammaan Capital Ltd. 10,162,432 21,585
  Tata Chemicals Ltd. 2,108,632 21,148
  Kalpataru Projects International Ltd. 1,486,160 21,015
  Adani Total Gas Ltd. 2,945,455 20,940
  Bharti Hexacom Ltd. 999,649 20,923
  Bharat Dynamics Ltd. 1,214,814 20,907
* Cartrade Tech Ltd. 612,965 20,831
* Reliance Power Ltd. 39,339,614 20,546
  JB Chemicals & Pharmaceuticals Ltd. 1,079,685 20,446
  Gujarat Fluorochemicals Ltd. 474,349 20,000
  Brigade Enterprises Ltd. 1,710,023 19,980
  Neuland Laboratories Ltd. 105,874 19,628
* Inox Wind Ltd. 11,236,212 19,625
  Lloyds Metals & Energy Ltd. 1,333,167 19,589
  Berger Paints India Ltd. 3,205,936 19,547
  Bank of India 12,087,213 19,038
*,3 Piramal Finance Ltd. 1,501,950 19,021
1 Premier Energies Ltd. 1,538,134 18,901
  Godfrey Phillips India Ltd. 544,945 18,859
1 Bandhan Bank Ltd. 10,707,023 18,851
  Ramco Cements Ltd. 1,589,576 18,672
  Five-Star Business Finance Ltd. 2,530,009 18,594
  Welspun Corp. Ltd. 1,698,217 18,477
* Poonawalla Fincorp Ltd. 3,396,604 18,431
  United Breweries Ltd. 908,018 18,385
1 Syngene International Ltd. 2,494,705 18,268
  Narayana Hrudayalaya Ltd. 918,507 18,162
  Motherson Sumi Wiring India Ltd. 34,070,931 18,113
* IIFL Finance Ltd. 2,994,100 18,014
  Piramal Pharma Ltd. 8,004,997 17,985
1 Dr Lal PathLabs Ltd. 508,391 17,955
* Indian Renewable Energy Development Agency Ltd. 10,497,112 17,951
  NBCC India Ltd. 13,540,731 17,887
  Housing & Urban Development Corp. Ltd. 6,653,640 17,749
  Aptus Value Housing Finance India Ltd. 4,954,463 17,704
  Tata Technologies Ltd. 2,270,324 17,694
  KPR Mill Ltd. 1,465,807 17,669
  Deepak Nitrite Ltd. 908,466 17,664
  Karur Vysya Bank Ltd. 6,302,881 17,267
1 General Insurance Corp. of India 4,070,028 17,126
  HBL Engineering Ltd. 1,508,633 17,060
  CESC Ltd. 8,414,492 17,040
* Star Health & Allied Insurance Co. Ltd. 3,055,421 17,022
1 L&T Technology Services Ltd. 365,603 16,926
46

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Linde India Ltd. 248,088 16,790
  GlaxoSmithKline Pharmaceuticals Ltd. 566,194 16,686
  Great Eastern Shipping Co. Ltd. 1,350,216 16,686
*,1 SAI Life Sciences Ltd. 1,610,185 16,646
  Timken India Ltd. 468,770 16,592
  Hindustan Copper Ltd. 4,320,961 16,541
  Angel One Ltd. 584,217 16,407
  Global Health Ltd. 1,111,643 16,394
2 Wipro Ltd. ADR 6,166,495 16,218
  KEC International Ltd. 1,754,314 16,139
  Anand Rathi Wealth Ltd. 460,769 16,025
  Firstsource Solutions Ltd. 4,017,784 16,012
  Amara Raja Energy & Mobility Ltd. 1,395,028 15,784
  Escorts Kubota Ltd. 369,827 15,765
  Tata Investment Corp. Ltd. 1,750,390 15,729
  Kfin Technologies Ltd. 1,259,777 15,572
* Bajaj Housing Finance Ltd. 12,521,977 15,535
1 IndiGrid Infrastructure Trust 8,011,424 15,509
  Ajanta Pharma Ltd. 556,943 15,467
  UTI Asset Management Co. Ltd. 1,096,650 15,418
* Cohance Lifesciences Ltd. 1,803,772 15,302
* Wockhardt Ltd. 1,055,183 15,227
  CRISIL Ltd. 272,863 15,137
* Onesource Specialty Pharma Ltd. 725,368 15,134
  Emami Ltd. 2,505,257 15,070
  Cyient Ltd. 1,150,590 15,063
1 Endurance Technologies Ltd. 470,721 15,059
  Kajaria Ceramics Ltd. 1,100,147 14,953
  Sundram Fasteners Ltd. 1,397,086 14,943
  Nuvama Wealth Management Ltd. 186,574 14,909
  Carborundum Universal Ltd. 1,455,780 14,762
  Deepak Fertilisers & Petrochemicals Corp. Ltd. 877,231 14,740
  AIA Engineering Ltd. 402,547 14,729
* Affle 3i Ltd. 678,399 14,729
* EID Parry India Ltd. 1,214,521 14,676
  eClerx Services Ltd. 273,979 14,578
  JSW Infrastructure Ltd. 4,451,194 14,506
  Himadri Speciality Chemical Ltd. 2,668,750 14,497
  Usha Martin Ltd. 2,753,708 14,409
* NTPC Green Energy Ltd. 12,296,710 14,272
  Castrol India Ltd. 6,451,042 14,156
  Thermax Ltd. 389,094 14,104
  Aditya Birla Real Estate Ltd. 665,670 14,069
1 Mindspace Business Parks REIT 2,679,576 14,036
  Aegis Logistics Ltd. 1,633,862 13,806
  Zee Entertainment Enterprises Ltd. 12,137,211 13,739
1 Home First Finance Co. India Ltd. 1,019,700 13,720
  TVS Holdings Ltd. 80,025 13,692
  Bank of Maharashtra 20,553,592 13,663
  Zensar Technologies Ltd. 1,515,912 13,616
* AWL Agri Business Ltd. 4,365,274 13,498
  NLC India Ltd. 4,524,928 13,352
  IRB Infrastructure Developers Ltd. 26,385,445 13,296
  NCC Ltd. 5,562,063 13,295
  PG Electroplast Ltd. 2,060,134 13,240
  Gujarat State Petronet Ltd. 3,793,842 13,222
  Atul Ltd. 202,957 13,167
  Whirlpool of India Ltd. 822,546 12,953
* PVR Inox Ltd. 952,007 12,931
  Acutaas Chemicals Ltd. 665,122 12,930
  ZF Commercial Vehicle Control Systems India Ltd. 91,928 12,855
  TD Power Systems Ltd. 1,452,364 12,671
  Kirloskar Oil Engines Ltd. 1,111,958 12,512
  City Union Bank Ltd. 4,852,118 12,500
  Intellect Design Arena Ltd. 978,811 12,489
  Ceat Ltd. 274,134 12,445
  BEML Ltd. 250,869 12,415
* Jaiprakash Power Ventures Ltd. 60,549,643 12,279
*,1 Lemon Tree Hotels Ltd. 6,557,248 12,199
  3M India Ltd. 36,390 12,108
47

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Nava Ltd. 1,732,756 12,070
  Hexaware Technologies Ltd. 1,552,079 12,013
  Granules India Ltd. 1,881,667 11,996
  Force Motors Ltd. 59,816 11,891
  Gabriel India Ltd. 829,352 11,889
* PTC Industries Ltd. 60,971 11,868
  Elgi Equipments Ltd. 2,099,041 11,757
  Honeywell Automation India Ltd. 28,490 11,700
  Aarti Industries Ltd. 2,713,549 11,609
  Craftsman Automation Ltd. 154,058 11,587
1 PowerGrid Infrastructure Investment Trust 10,453,215 11,487
  Grindwell Norton Ltd. 600,166 11,419
* CreditAccess Grameen Ltd. 703,651 11,274
  Chambal Fertilisers & Chemicals Ltd. 2,073,023 11,223
* Inventurus Knowledge Solutions Ltd. 599,094 11,104
  EIH Ltd. 2,504,990 10,983
  Can Fin Homes Ltd. 1,123,596 10,974
  Garden Reach Shipbuilders & Engineers Ltd. 381,421 10,951
1 Paradeep Phosphates Ltd. 5,812,648 10,889
  Anant Raj Ltd. 1,492,233 10,831
1 IndiaMart InterMesh Ltd. 389,792 10,805
  Natco Pharma Ltd. 1,164,853 10,747
  LMW Ltd. 60,633 10,746
  Bharti Airtel Ltd. 605,276 10,699
  Sobha Ltd. 585,605 10,698
* Aditya Birla Lifestyle Brands Ltd. 7,048,344 10,600
  Mahanagar Gas Ltd. 735,667 10,570
  Gujarat Gas Ltd. 2,295,668 10,529
  Titagarh Rail System Ltd. 1,057,545 10,526
  Data Patterns India Ltd. 334,320 10,317
  Godawari Power & Ispat Ltd. 3,224,941 10,299
* Devyani International Ltd. 5,588,342 10,182
  Bata India Ltd. 842,225 10,149
  Jubilant Pharmova Ltd. 815,402 10,108
* Aavas Financiers Ltd. 543,991 10,104
  Swan Corp. Ltd. 1,891,126 9,986
  Asahi India Glass Ltd. 958,591 9,959
  Poly Medicure Ltd. 441,946 9,952
1 Eris Lifesciences Ltd. 552,379 9,914
* Chalet Hotels Ltd. 925,505 9,894
  Techno Electric & Engineering Co. Ltd. 666,290 9,893
  Netweb Technologies India Ltd. 216,375 9,835
  Gillette India Ltd. 95,689 9,714
* Sapphire Foods India Ltd. 3,010,265 9,696
  HFCL Ltd. 11,583,579 9,579
* Reliance Infrastructure Ltd. 3,919,883 9,524
  PCBL Chemical Ltd. 2,331,046 9,500
  Capri Global Capital Ltd. 4,152,244 9,486
  Authum Investment & Infrastucture Ltd. 289,502 9,479
*,3 SKF India Industrial Ltd. 310,137 9,462
  Edelweiss Financial Services Ltd. 7,400,718 9,460
  Rainbow Children's Medicare Ltd. 607,795 9,369
  SJVN Ltd. 9,432,127 9,341
  Olectra Greentech Ltd. 534,939 9,324
  Afcons Infrastructure Ltd. 1,848,110 9,311
* Go Digit General Insurance Ltd. 2,305,202 9,305
  VA Tech Wabag Ltd. 584,813 9,303
  JM Financial Ltd. 5,012,000 9,255
1 Sansera Engineering Ltd. 540,841 9,226
* Nazara Technologies Ltd. 3,063,380 9,207
  Sumitomo Chemical India Ltd. 1,618,820 9,154
  Sonata Software Ltd. 2,192,822 9,132
1 Indian Energy Exchange Ltd. 5,788,524 9,060
  Birlasoft Ltd. 2,161,363 9,040
  Triveni Turbine Ltd. 1,487,039 8,956
  Bayer CropScience Ltd. 162,718 8,946
  Shyam Metalics & Energy Ltd. 892,982 8,826
  Zen Technologies Ltd. 574,438 8,775
  IDBI Bank Ltd. 7,468,652 8,723
  CCL Products India Ltd. 899,065 8,702
48

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Strides Pharma Science Ltd. 824,494 8,677
  CMS Info Systems Ltd. 2,060,872 8,615
  V-Guard Industries Ltd. 2,079,228 8,480
  Tilaknagar Industries Ltd. 1,409,048 8,368
1 IRB InvIT Fund 11,810,212 8,321
  Aditya Birla Sun Life Asset Management Co. Ltd. 960,910 8,239
  TSF Investments Ltd. 1,113,502 8,199
  Engineers India Ltd. 3,593,141 8,175
  LT Foods Ltd. 1,721,505 8,153
1 IRCON International Ltd. 4,242,482 8,095
* Jyoti CNC Automation Ltd. 825,613 8,027
  Metro Brands Ltd. 628,336 7,984
  Balrampur Chini Mills Ltd. 1,517,699 7,840
* MTAR Technologies Ltd. 272,593 7,823
  CIE Automotive India Ltd. 1,602,820 7,804
* Aadhar Housing Finance Ltd. 1,355,871 7,777
* Gokaldas Exports Ltd. 822,561 7,766
  Sudarshan Chemical Industries Ltd. 596,441 7,721
*,1 Metropolis Healthcare Ltd. 343,767 7,638
  Newgen Software Technologies Ltd. 691,756 7,601
* Medplus Health Services Ltd. 879,973 7,554
  JK Lakshmi Cement Ltd. 769,647 7,544
* Embassy Developments Ltd. 7,197,695 7,531
  Alembic Pharmaceuticals Ltd. 741,417 7,497
  SKF India Ltd. 310,137 7,473
*,1 Ujjivan Small Finance Bank Ltd. 12,754,684 7,451
  Syrma SGS Technology Ltd. 812,730 7,440
  BASF India Ltd. 148,308 7,368
  Finolex Cables Ltd. 827,534 7,324
* NMDC Steel Ltd. 15,036,357 7,283
* Tbo Tek Ltd. 435,795 7,274
  Clean Science & Technology Ltd. 639,344 7,263
  Kansai Nerolac Paints Ltd. 2,596,709 7,254
* Godrej Industries Ltd. 583,692 7,241
  Finolex Industries Ltd. 3,406,242 7,203
  Astra Microwave Products Ltd. 614,438 7,201
1 KPI Green Energy Ltd. 1,194,888 7,198
  Sarda Energy & Minerals Ltd. 1,206,657 7,190
  Sun TV Network Ltd. 1,133,919 7,176
  Zydus Wellness Ltd. 1,332,145 7,144
  Ratnamani Metals & Tubes Ltd. 261,335 7,134
  South Indian Bank Ltd. 17,275,269 7,126
  Safari Industries India Ltd. 295,740 7,108
  Chennai Petroleum Corp. Ltd. 642,983 7,089
* SBFC Finance Ltd. 5,513,963 7,085
  Gravita India Ltd. 375,879 7,052
  Procter & Gamble Health Ltd. 101,179 7,029
  Supreme Petrochem Ltd. 829,729 7,017
  Century Plyboards India Ltd. 825,497 7,011
  HEG Ltd. 1,052,290 7,001
  Kirloskar Brothers Ltd. 331,435 6,991
  Arvind Ltd. 1,937,199 6,957
  Transformers & Rectifiers India Ltd. 1,382,788 6,931
  Ramkrishna Forgings Ltd. 1,130,104 6,910
  JK Tyre & Industries Ltd. 1,411,505 6,875
* Ola Electric Mobility Ltd. 12,148,338 6,857
  AstraZeneca Pharma India Ltd. 63,620 6,851
  Vinati Organics Ltd. 360,527 6,715
  Time Technoplast Ltd. 2,773,780 6,715
  Bikaji Foods International Ltd. 814,724 6,699
  RR Kabel Ltd. 420,030 6,678
  Vijaya Diagnostic Centre Ltd. 596,861 6,648
  Shakti Pumps India Ltd. 721,054 6,643
  Doms Industries Ltd. 228,283 6,610
* Aditya Birla Fashion & Retail Ltd. 7,167,462 6,586
  Gujarat Pipavav Port Ltd. 3,510,920 6,578
  DCM Shriram Ltd. 455,320 6,564
  Shipping Corp. of India Ltd. 2,249,136 6,563
  Elecon Engineering Co. Ltd. 1,035,328 6,546
  Vardhman Textiles Ltd. 1,325,160 6,507
49

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Gujarat Narmada Valley Fertilizers & Chemicals Ltd. 1,145,333 6,492
  Minda Corp. Ltd. 1,022,155 6,485
* Azad Engineering Ltd. 338,040 6,448
1 New India Assurance Co. Ltd. 3,061,063 6,446
  IIFL Capital Services Ltd. 1,669,437 6,422
* Nuvoco Vistas Corp. Ltd. 1,370,777 6,396
  Gujarat State Fertilizers & Chemicals Ltd. 2,948,950 6,339
  Jammu & Kashmir Bank Ltd. 5,292,136 6,328
* Schneider Electric Infrastructure Ltd. 668,523 6,296
  Aarti Pharmalabs Ltd. 654,781 6,284
  Voltamp Transformers Ltd. 75,355 6,277
* IFCI Ltd. 9,587,377 6,256
  Sanofi India Ltd. 116,180 6,255
  Vesuvius India Ltd. 1,122,315 6,234
  Action Construction Equipment Ltd. 499,998 6,199
  KSB Ltd. 688,935 6,135
* Indian Overseas Bank 13,585,580 6,132
  Kirloskar Pneumatic Co. Ltd. 484,814 6,104
  Jindal Saw Ltd. 3,089,258 6,097
  GHCL Ltd. 844,216 6,078
  Cemindia Projects Ltd. 664,470 6,061
  Praj Industries Ltd. 1,590,891 6,040
  Tanla Platforms Ltd. 876,639 6,024
1 Tejas Networks Ltd. 1,002,859 6,017
  Happiest Minds Technologies Ltd. 1,036,846 6,016
  Maharashtra Scooters Ltd. 35,366 6,013
  Caplin Point Laboratories Ltd. 262,775 6,011
  Graphite India Ltd. 852,449 5,981
  Care Ratings Ltd. 329,200 5,943
* Hindustan Construction Co. Ltd. 18,383,920 5,911
  Concord Biotech Ltd. 361,053 5,873
  Mrs Bectors Food Specialities Ltd. 388,893 5,860
* Honasa Consumer Ltd. 1,829,778 5,852
  Jyothy Labs Ltd. 1,647,423 5,834
  PTC India Ltd. 3,076,754 5,821
  Central Bank of India Ltd. 13,047,023 5,797
  Vedant Fashions Ltd. 795,008 5,779
* Rategain Travel Technologies Ltd. 799,708 5,747
  Welspun Living Ltd. 3,916,297 5,721
  Marksans Pharma Ltd. 2,778,904 5,698
  Mahindra Lifespace Developers Ltd. 1,310,333 5,698
  Arvind Fashions Ltd. 1,002,023 5,668
  Blue Dart Express Ltd. 75,884 5,620
* Eureka Forbes Ltd. 881,304 5,538
  Archean Chemical Industries Ltd. 733,311 5,462
  Prudent Corporate Advisory Services Ltd. 189,554 5,452
* Websol Energy System Ltd. 395,135 5,408
  Jupiter Life Line Hospitals Ltd. 302,551 5,407
* Pricol Ltd. 904,929 5,396
* JSW Holdings Ltd. 29,117 5,385
* SignatureGlobal India Ltd. 440,212 5,373
  Jupiter Wagons Ltd. 1,478,807 5,354
  Westlife Foodworld Ltd. 778,906 5,203
  Tamilnad Mercantile Bank Ltd. 921,954 5,180
  Trident Ltd. 15,988,309 5,153
  Bombay Burmah Trading Co. 230,324 5,137
  Mastek Ltd. 208,853 5,029
  Garware Technical Fibres Ltd. 581,345 4,968
  GMM Pfaudler Ltd. 339,551 4,929
  RITES Ltd. 1,777,189 4,906
  Power Mech Projects Ltd. 173,497 4,879
1 Godrej Agrovet Ltd. 651,629 4,866
* Mangalore Refinery & Petrochemicals Ltd. 2,596,418 4,864
  Jubilant Ingrevia Ltd. 626,160 4,863
  Fine Organic Industries Ltd. 97,053 4,848
  Sanofi Consumer Healthcare India Ltd. 88,720 4,837
  Genus Power Infrastructures Ltd. 1,248,347 4,788
  Karnataka Bank Ltd. 2,367,774 4,754
  Railtel Corp. of India Ltd. 1,137,978 4,714
  PNC Infratech Ltd. 1,493,424 4,713
50

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* V-Mart Retail Ltd. 504,508 4,712
  Relaxo Footwears Ltd. 956,381 4,697
*,1 Equitas Small Finance Bank Ltd. 7,271,576 4,666
  Birla Corp. Ltd. 351,366 4,661
  BLS International Services Ltd. 1,310,672 4,640
* Sterlite Technologies Ltd. 3,499,162 4,623
  Rhi Magnesita India Ltd. 858,679 4,611
  Garware Hi-Tech Films Ltd. 119,454 4,584
  ION Exchange India Ltd. 1,011,622 4,559
* Borosil Renewables Ltd. 625,812 4,537
  Akzo Nobel India Ltd. 123,513 4,508
* Network18 Media & Investments Ltd. 8,333,299 4,496
  Shilpa Medicare Ltd. 1,126,034 4,478
* Valor Estate Ltd. 2,665,707 4,467
  JK Paper Ltd. 989,306 4,424
  Cello World Ltd. 599,578 4,416
* RattanIndia Power Ltd. 35,881,388 4,410
  Electrosteel Castings Ltd. 4,270,423 4,386
  EPL Ltd. 1,905,345 4,330
  Saregama India Ltd. 842,457 4,313
* Infibeam Avenues Ltd. 19,181,797 4,212
  Cera Sanitaryware Ltd. 59,759 4,189
  AurionPro Solutions Ltd. 304,903 4,143
* VIP Industries Ltd. 905,488 4,142
  G R Infraprojects Ltd. 312,706 4,113
  Suprajit Engineering Ltd. 811,181 4,080
* Raymond Lifestyle Ltd. 305,401 4,065
* GMR Power & Urban Infra Ltd. 3,067,570 4,046
  Avanti Feeds Ltd. 511,903 4,020
* Tata Teleservices Maharashtra Ltd. 6,529,355 4,016
  Texmaco Rail & Engineering Ltd. 2,608,763 4,003
  KRBL Ltd. 950,571 3,996
  JBM Auto Ltd. 527,987 3,952
* Restaurant Brands Asia Ltd. 5,197,631 3,935
* Sterling & Wilson Renewable 1,583,756 3,915
  KNR Constructions Ltd. 1,918,782 3,907
  Rain Industries Ltd. 2,560,754 3,848
  Alkyl Amines Chemicals 181,607 3,805
  Thomas Cook India Ltd. 2,085,084 3,799
* India Cements Ltd. 837,786 3,792
* Chemplast Sanmar Ltd. 842,132 3,783
* Sheela Foam Ltd. 480,429 3,782
* Ashoka Buildcon Ltd. 1,576,121 3,647
  Triveni Engineering & Industries Ltd. 897,816 3,606
  Orient Electric Ltd. 1,502,704 3,533
  DCB Bank Ltd. 1,966,777 3,501
* Zaggle Prepaid Ocean Services Ltd. 833,023 3,495
* Shree Renuka Sugars Ltd. 10,516,390 3,490
  TTK Prestige Ltd. 458,319 3,455
  Anup Engineering Ltd. 132,032 3,430
  ISGEC Heavy Engineering Ltd. 346,394 3,430
  Bajaj Electricals Ltd. 584,646 3,383
  NIIT Learning Systems Ltd. 917,739 3,357
  Maharashtra Seamless Ltd. 524,617 3,354
* Bajaj Consumer Care Ltd. 1,072,786 3,350
  Campus Activewear Ltd. 1,022,480 3,221
* TVS Supply Chain Solutions Ltd. 2,187,677 3,174
  Gateway Distriparks Ltd. 4,393,559 3,159
* Alok Industries Ltd. 15,988,481 3,139
  Galaxy Surfactants Ltd. 123,966 3,117
  Rallis India Ltd. 1,060,350 3,086
  Kaveri Seed Co. Ltd. 254,918 2,989
  Paisalo Digital Ltd. 7,006,950 2,989
1 Dilip Buildcon Ltd. 520,988 2,904
* Raymond Ltd. 440,433 2,846
  NOCIL Ltd. 1,351,301 2,814
* Jai Balaji Industries Ltd. 2,435,108 2,593
* TeamLease Services Ltd. 130,354 2,464
  Symphony Ltd. 221,867 2,335
1 Quess Corp. Ltd. 862,464 2,329
51

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Balaji Amines Ltd. 145,034 2,299
* Just Dial Ltd. 260,331 2,267
* Rajesh Exports Ltd. 1,075,365 2,202
  Vaibhav Global Ltd. 689,603 2,089
  Polyplex Corp. Ltd. 185,111 1,992
  Pfizer Ltd. 32,111 1,884
  Orient Cement Ltd. 763,819 1,845
  Route Mobile Ltd. 218,313 1,751
* Sun Pharma Advanced Research Co. Ltd. 1,039,660 1,583
  NIIT Ltd. 1,211,073 1,424
* Allcargo Logistics Ltd. 3,658,570 1,417
*,3 Advent Hotels International Pvt Ltd. 290,300 1,023
* Dhani Services Ltd. 819,098 567
            27,331,214
Indonesia (1.3%)
  Bank Central Asia Tbk. PT 656,943,050 336,350
  Bank Rakyat Indonesia Persero Tbk. PT 884,321,960 211,548
  Bank Mandiri Persero Tbk. PT 580,464,850 164,454
  Telkom Indonesia Persero Tbk. PT 583,521,452 112,873
  Astra International Tbk. PT 269,937,981 99,813
* Amman Mineral Internasional PT 161,604,900 68,933
* Dian Swastatika Sentosa Tbk. PT 12,515,300 63,600
* Barito Pacific Tbk. PT 277,585,625 57,528
  Bank Negara Indonesia Persero Tbk. PT 161,044,652 42,328
* Bumi Resources Minerals Tbk. PT 710,834,625 39,272
* GoTo Gojek Tokopedia Tbk. PT Class A 10,486,936,500 37,674
  Sumber Alfaria Trijaya Tbk. PT 271,916,400 32,834
  United Tractors Tbk. PT 19,144,327 30,954
  Petrindo Jaya Kreasi Tbk. PT 229,025,230 27,651
  Charoen Pokphand Indonesia Tbk. PT 97,932,123 27,483
  Indofood Sukses Makmur Tbk. PT 59,106,608 26,303
* Merdeka Copper Gold Tbk. PT 164,188,900 24,025
  Kalbe Farma Tbk. PT 256,597,684 19,681
  Aneka Tambang Tbk. 100,870,710 18,763
* Bumi Resources Tbk. PT 2,164,659,895 18,459
  Indofood CBP Sukses Makmur Tbk. PT 30,764,047 16,078
  Elang Mahkota Teknologi Tbk. PT 223,693,600 15,900
  Alamtri Resources Indonesia Tbk. PT 128,055,479 14,497
  Indah Kiat Pulp & Paper Tbk. PT 30,795,468 13,773
* Adaro Andalan Indonesia PT 25,310,400 13,011
  Perusahaan Gas Negara Tbk. PT 119,996,279 12,546
  Unilever Indonesia Tbk. PT 76,643,455 11,884
  Mitra Keluarga Karyasehat Tbk. PT 67,213,472 10,430
  Medikaloka Hermina Tbk. PT 112,311,299 10,141
  XLSMART Telecom Sejahtera Tbk. PT 60,575,308 9,503
  Trimegah Bangun Persada Tbk. PT 119,927,300 9,013
* Bank Jago Tbk. PT 64,192,300 8,433
  Vale Indonesia Tbk. PT 28,658,330 8,177
  Sarana Menara Nusantara Tbk. PT 248,416,300 8,130
  Mitra Adiperkasa Tbk. PT 103,151,326 7,990
  Indosat Tbk. PT 69,843,500 7,908
  Japfa Comfeed Indonesia Tbk. PT 51,297,800 7,732
  Dayamitra Telekomunikasi PT 227,785,700 7,668
  Alamtri Minerals Indonesia Tbk. PT 87,469,999 7,332
  Cisarua Mountain Dairy PT Tbk. 20,814,132 7,100
  Bank Syariah Indonesia Tbk. PT 46,182,490 7,073
  Semen Indonesia Persero Tbk. PT 41,704,407 6,909
  Medco Energi Internasional Tbk. PT 84,363,742 6,751
  Pabrik Kertas Tjiwi Kimia Tbk. PT 15,750,300 6,595
* Bukalapak.com PT Tbk. 640,871,100 6,474
  Bukit Asam Tbk. PT 43,414,144 6,261
  Gudang Garam Tbk. PT 5,801,030 6,037
  Ciputra Development Tbk. PT 112,797,550 5,992
  AKR Corporindo Tbk. PT 80,642,825 5,919
  Mayora Indah Tbk. PT 45,445,000 5,812
  Indocement Tunggal Prakarsa Tbk. PT 13,708,197 5,146
  Bank Tabungan Negara Persero Tbk. PT 65,031,756 4,782
  Pakuwon Jati Tbk. PT 215,117,867 4,754
  Map Aktif Adiperkasa PT 111,640,600 4,688
52

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Jasa Marga Persero Tbk. PT 21,783,804 4,675
  Timah Tbk. PT 27,294,574 4,379
  BFI Finance Indonesia Tbk. PT 86,624,400 4,189
  Avia Avian Tbk. PT 151,621,000 3,770
  PT Tower Bersama Infrastructure Tbk. 25,929,521 3,712
  Indo Tambangraya Megah Tbk. PT 2,474,280 3,494
  Surya Citra Media Tbk. PT 170,282,655 3,453
  Summarecon Agung Tbk. PT 146,526,108 3,448
* MNC Digital Entertainment Tbk. PT 113,328,125 3,441
  ESSA Industries Indonesia Tbk. PT 87,146,745 3,221
  Perusahaan Perkebunan London Sumatra Indonesia Tbk. PT 37,618,295 3,175
*,3 Waskita Karya Persero Tbk. PT 255,000,319 3,097
* Bumi Serpong Damai Tbk. PT 51,530,001 3,030
  Bank Pan Indonesia Tbk. PT 46,789,000 2,901
  Industri Jamu Dan Farmasi Sido Muncul Tbk. PT 75,289,000 2,534
  Aspirasi Hidup Indonesia Tbk. PT 92,148,456 2,459
  Astra Agro Lestari Tbk. PT 5,081,013 2,384
* Siloam International Hospitals Tbk. PT 17,885,223 2,332
* Lippo Karawaci Tbk. PT 429,906,288 2,300
* Bank Neo Commerce Tbk. PT 86,863,805 2,028
  Bank BTPN Syariah Tbk. PT 22,954,300 1,889
  Matahari Department Store Tbk. PT 14,640,811 1,483
* Panin Financial Tbk. PT 100,270,731 1,446
* Media Nusantara Citra Tbk. PT 83,408,924 1,344
  Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk. PT 15,294,530 740
            1,821,889
Kuwait (0.8%)
  Kuwait Finance House KSCP 164,200,051 429,900
  National Bank of Kuwait SAKP 109,268,210 374,216
  Boubyan Bank KSCP 23,487,476 54,807
  Mobile Telecommunications Co. KSCP 29,869,549 51,621
  Gulf Bank KSCP 29,253,078 33,422
  Mabanee Co. KPSC 8,432,752 27,694
* Warba Bank KSCP 29,193,918 27,588
  National Industries Group Holding SAK 25,623,694 24,305
  Al Ahli Bank of Kuwait KSCP 19,736,833 18,509
  Boursa Kuwait Securities Co. KPSC 1,399,064 18,334
* Kuwait Real Estate Co. KSC 11,381,632 15,750
  Commercial Real Estate Co. KSC 18,163,153 12,597
  Kuwait International Bank KSCP 12,137,065 10,582
  Burgan Bank SAK 13,690,341 10,555
  Boubyan Petrochemicals Co. KSCP 5,177,008 10,359
  Gulf Cables & Electrical Industries Group Co. KSCP 1,410,770 10,327
  Humansoft Holding Co. KSC 1,269,405 10,240
  Agility Public Warehousing Co. KSC 20,512,714 10,074
  Kuwait Telecommunications Co. 5,111,622 9,894
  Salhia Real Estate Co. KSCP 5,680,251 7,758
* Kuwait Projects Co. Holding KSCP 25,397,727 7,285
  Jazeera Airways Co. KSCP 1,010,394 4,834
* National Real Estate Co. KPSC 14,652,343 3,725
            1,184,376
Malaysia (1.7%)
  Malayan Banking Bhd. 100,558,172 236,994
  Public Bank Bhd. 194,462,190 195,769
  CIMB Group Holdings Bhd. 111,125,708 193,392
  Tenaga Nasional Bhd. 59,725,951 189,227
  Gamuda Bhd. 67,341,434 80,878
  IHH Healthcare Bhd. 40,874,035 80,477
  Press Metal Aluminium Holdings Bhd. 45,376,140 68,544
  SD Guthrie Bhd. 48,116,179 60,652
  Petronas Gas Bhd. 12,589,263 55,576
  AMMB Holdings Bhd. 36,819,445 50,083
  MISC Bhd. 26,752,796 49,753
  RHB Bank Bhd. 27,841,600 45,011
  Celcomdigi Bhd. 50,600,233 43,499
  Sunway Bhd. 32,789,400 42,269
  Hong Leong Bank Bhd. 8,131,572 39,903
  YTL Corp. Bhd. 60,817,120 37,674
  Axiata Group Bhd. 59,751,049 35,830
53

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  IOI Corp. Bhd. 36,875,890 35,389
  YTL Power International Bhd. 36,857,940 35,034
  Maxis Bhd. 38,368,460 34,817
  Petronas Chemicals Group Bhd. 36,865,812 34,291
  Kuala Lumpur Kepong Bhd. 6,911,557 33,804
  Telekom Malaysia Bhd. 15,627,878 27,235
  Dialog Group Bhd. 56,579,660 26,470
  Sime Darby Bhd. 53,600,336 26,203
  IJM Corp. Bhd. 44,032,434 26,021
  Inari Amertron Bhd. 40,795,000 25,428
  Petronas Dagangan Bhd. 4,502,307 24,378
  Genting Bhd. 27,789,624 22,410
  Nestle Malaysia Bhd. 823,557 22,219
  QL Resources Bhd. 21,583,345 21,380
  TIME dotCom Bhd. 18,684,480 21,272
  KPJ Healthcare Bhd. 31,221,400 21,134
  PPB Group Bhd. 7,913,760 21,040
  United Plantations Bhd. 3,496,900 20,678
  Genting Malaysia Bhd. 36,699,937 20,406
  Frontken Corp. Bhd. 17,148,750 18,471
1 MR DIY Group M Bhd. 45,117,550 17,212
  Bursa Malaysia Bhd. 8,665,000 16,948
  Westports Holdings Bhd. 13,600,700 16,710
  IGB REIT 23,142,700 14,867
  Sime Darby Property Bhd. 44,687,755 14,370
  99 Speed Mart Retail Holdings Bhd. 19,095,300 14,257
  Yinson Holdings Bhd. 25,115,640 14,211
  Fraser & Neave Holdings Bhd. 2,074,900 13,941
  Zetrix Ai Bhd. 68,781,900 13,858
  Alliance Bank Malaysia Bhd. 12,919,624 13,557
  Sunway REIT 23,832,900 11,956
  Axis REIT 21,603,900 11,092
  Hong Leong Financial Group Bhd. 2,681,441 10,815
  IOI Properties Group Bhd. 20,745,300 10,402
* Top Glove Corp. Bhd. 67,000,690 10,064
  Pavilion REIT 21,581,300 9,535
  ViTrox Corp. Bhd. 8,148,800 8,756
  Malakoff Corp. Bhd. 33,759,700 8,700
  Heineken Malaysia Bhd. 1,670,773 8,498
  SP Setia Bhd. Group 38,211,445 7,880
  Sunway Construction Group Bhd. 5,608,800 7,868
  Malaysian Pacific Industries Bhd. 1,026,500 7,330
  Carlsberg Brewery Malaysia Bhd. 1,843,309 7,271
* Pentamaster Corp. Bhd. 6,672,850 6,814
  Eco World Development Group Bhd. 13,689,100 6,726
  Mega First Corp. Bhd. 7,530,000 6,664
  Scientex Bhd. 8,079,900 6,539
  Gas Malaysia Bhd. 5,765,500 6,244
* Greatech Technology Bhd. 12,073,600 5,945
  Hartalega Holdings Bhd. 19,681,010 5,673
  MBSB Bhd. 32,367,600 5,599
* Tanco Holdings Bhd. 23,607,680 5,271
  Mah Sing Group Bhd. 20,998,334 5,209
  CTOS Digital Bhd. 23,285,000 5,197
  Kossan Rubber Industries Bhd. 17,719,400 5,023
  Bank Islam Malaysia Bhd. 8,984,950 4,720
* UWC Bhd. 4,641,700 4,539
  VS Industry Bhd. 36,786,556 4,336
  Nationgate Holdings Bhd. 12,949,610 3,633
  Velesto Energy Bhd. 60,415,127 3,610
  Bumi Armada Bhd. 43,497,528 3,429
  Padini Holdings Bhd. 7,407,355 3,343
  Cahya Mata Sarawak Bhd. 8,486,300 3,217
  Sports Toto Bhd. 9,657,060 3,204
  UEM Sunrise Bhd. 20,475,600 3,124
  DRB-Hicom Bhd. 10,329,300 3,106
  Malaysian Resources Corp. Bhd. 28,642,700 3,072
  Syarikat Takaful Malaysia Keluarga Bhd. 4,084,000 3,022
* WCT Holdings Bhd. 15,703,764 2,809
* Berjaya Corp. Bhd. 37,977,259 2,627
54

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Dagang NeXchange Bhd. 35,342,600 2,567
* Supermax Corp. Bhd. 21,270,574 2,407
  Bermaz Auto Bhd. 12,412,200 1,984
  Hibiscus Petroleum Bhd. 5,593,120 1,910
  D&O Green Technologies Bhd. 6,415,500 1,908
  British American Tobacco Malaysia Bhd. 1,425,934 1,567
* Chin Hin Group Bhd. 2,346,715 1,294
* Astro Malaysia Holdings Bhd. 3,506,873 109
            2,430,150
Mexico (2.1%)
  Grupo Financiero Banorte SAB de CV 38,572,540 363,022
  Grupo Mexico SAB de CV Class B 38,103,033 329,419
  America Movil SAB de CV Class B 209,885,756 239,389
  Wal-Mart de Mexico SAB de CV 68,111,937 225,176
  Fomento Economico Mexicano SAB de CV 23,330,123 220,084
  Cemex SAB de CV 202,737,854 206,028
  Grupo Aeroportuario del Pacifico SAB de CV Class B 5,458,361 113,780
  Arca Continental SAB de CV 11,713,015 113,445
* Industrias Penoles SAB de CV 2,509,081 103,868
  Grupo Aeroportuario del Sureste SAB de CV Class B 2,105,261 63,683
  Coca-Cola Femsa SAB de CV 7,061,987 60,758
  Grupo Financiero Inbursa SAB de CV 23,899,330 58,042
  Grupo Bimbo SAB de CV Class A 16,264,243 56,203
  Prologis Property Mexico SA de CV 13,991,360 55,872
  Fibra Uno Administracion SA de CV 37,196,702 53,978
  Grupo Carso SAB de CV 7,193,825 51,414
  Grupo Aeroportuario del Centro Norte SAB de CV Class B 3,671,868 45,248
  Kimberly-Clark de Mexico SAB de CV Class A 20,919,732 40,492
  Gruma SAB de CV Class B 2,196,052 37,269
  Corp. Inmobiliaria Vesta SAB de CV 11,601,883 35,221
  Gentera SAB de CV 14,440,744 34,356
  Promotora y Operadora de Infraestructura SAB de CV 2,373,484 30,739
  Megacable Holdings SAB de CV 10,081,497 28,847
  Grupo Comercial Chedraui SA de CV 3,844,671 27,877
1 Banco del Bajio SA 10,751,618 27,529
  Alfa SAB de CV Class A 33,604,041 25,341
  Regional SAB de CV 3,355,808 24,983
  Fibra MTY SAPI de CV 31,901,591 24,538
  Qualitas Controladora SAB de CV 2,673,952 24,247
  GCC SAB de CV 2,254,307 21,647
  Alsea SAB de CV 6,600,617 18,230
  Concentradora Fibra Danhos SA de CV 11,689,546 18,096
1 FIBRA Macquarie Mexico 10,049,880 16,277
  Grupo Televisa SAB 30,568,995 15,927
  Bolsa Mexicana de Valores SAB de CV 7,561,475 14,432
  El Puerto de Liverpool SAB de CV 2,625,846 12,801
  Orbia Advance Corp. SAB de CV 11,911,640 10,829
  Operadora De Sites Mexicanos SAB de CV 10,456,267 9,393
  Genomma Lab Internacional SAB de CV Class B 9,115,768 8,920
* Controladora Alpek SAB de CV 56,061,041 8,690
*,1 Nemak SAB de CV 37,402,594 7,912
* Controladora Vuela Cia de Aviacion SAB de CV Class A 11,659,977 7,757
  Becle SAB de CV 6,232,218 7,638
  La Comer SAB de CV 3,248,017 7,033
*,1 Grupo Traxion SAB de CV Class A 5,842,134 4,305
* Alpek SAB de CV Class A 4,774,972 2,416
  Grupo Rotoplas SAB de CV 2,603,617 1,878
            2,915,029
Philippines (0.5%)
  International Container Terminal Services Inc. 14,547,771 131,212
  BDO Unibank Inc. 30,559,136 69,306
  SM Prime Holdings Inc. 134,653,178 51,253
  Bank of the Philippine Islands 25,446,361 45,570
  Manila Electric Co. 3,290,043 32,658
  Ayala Corp. 3,918,040 31,136
  Ayala Land Inc. 91,047,927 30,756
  Metropolitan Bank & Trust Co. 24,287,655 28,469
  PLDT Inc. 1,252,959 23,813
  Jollibee Foods Corp. 6,033,179 22,197
55

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  JG Summit Holdings Inc. 38,568,868 15,686
  Universal Robina Corp. 11,887,871 14,734
  GT Capital Holdings Inc. 1,304,472 12,100
  AREIT Inc. 16,255,200 11,848
  Globe Telecom Inc. 427,974 10,731
  Century Pacific Food Inc. 15,895,387 9,459
  RL Commercial REIT Inc. 75,202,937 9,356
  DMCI Holdings Inc. 45,127,597 8,653
  Aboitiz Power Corp. 11,768,700 8,245
  Puregold Price Club Inc. 12,508,256 8,087
  Manila Water Co. Inc. 13,338,600 7,874
  Converge Information & Communications Technology Solutions Inc. 33,590,500 7,272
  LT Group Inc. 28,710,150 7,136
  DigiPlus Interactive Corp. 19,483,730 6,915
1 Monde Nissin Corp. 58,950,500 6,759
  Semirara Mining & Power Corp. Class A 11,546,228 6,483
  Security Bank Corp. 4,824,168 5,703
  Robinsons Land Corp. 20,306,807 5,142
  ACEN Corp. 122,131,994 4,807
  Megaworld Corp. 89,086,303 3,014
  Wilcon Depot Inc. 18,594,800 2,433
  Bloomberry Resorts Corp. 44,689,049 2,428
  D&L Industries Inc. 30,433,190 2,332
* Cebu Air Inc. 2,618,253 1,303
            644,870
Qatar (0.7%)
  Qatar National Bank QPSC 58,043,087 295,207
  Qatar Islamic Bank QPSC 24,109,132 162,536
  Industries Qatar QSC 26,320,949 91,707
  Al Rayan Bank 82,755,203 53,200
  Commercial Bank PSQC 44,786,901 50,969
  Qatar Gas Transport Co. Ltd. 36,093,195 43,823
  Qatar Navigation QSC 13,015,210 39,751
  Ooredoo QPSC 10,263,725 38,174
  Qatar International Islamic Bank QSC 11,774,597 36,044
  Qatar Fuel QSC 7,695,520 31,700
  Qatar Electricity & Water Co. QSC 6,270,652 26,494
  Dukhan Bank 27,691,459 26,434
  Doha Bank QPSC 36,205,382 24,986
  Mesaieed Petrochemical Holding Co. 72,354,572 24,813
  Barwa Real Estate Co. 27,483,220 19,848
  Qatar Aluminum Manufacturing Co. 36,953,063 15,750
  Vodafone Qatar PQSC 21,125,081 13,943
* Estithmar Holding QPSC 10,742,772 12,099
  Gulf International Services QSC 14,255,828 12,086
* Ezdan Holding Group QSC 20,814,698 6,525
  United Development Co. QSC 23,958,300 6,205
  Al Meera Consumer Goods Co. QSC 1,303,304 5,235
            1,037,529
Romania (0.1%)
  Banca Transilvania SA 12,555,559 79,556
  OMV Petrom SA 204,336,843 43,660
  Societatea De Producere A Energiei Electrice in Hidrocentrale Hidroelectrica SA 1,166,413 31,994
  Societatea Energetica Electrica SA 1,930,037 10,529
  Societatea Nationala Nuclearelectrica SA 663,956 7,161
* MED Life SA 3,442,417 6,603
  One United Properties SA 498,092 2,992
* Teraplast SA 20,449,815 1,994
  TTS Transport Trade Services SA 1,669,945 1,900
            186,389
Russia (0.0%)
*,3 Sberbank of Russia PJSC 143,624,072 —
*,3 Mechel PJSC ADR 164,675 —
*,3 Surgutneftegas PAO ADR 144,600 —
*,3 Novatek PJSC GDR 1,400 —
*,3 Severstal PAO GDR 206,805 —
*,3 Polyus PJSC 1,269,390 —
*,3 Raspadskaya PAO 910,080 —
56

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
*,3 Mechel PJSC 3,089,565 —
*,3 Rosneft Oil Co. PJSC 16,338,334 —
*,3 Magnitogorsk Iron & Steel Works PJSC 29,365,277 —
*,3 VTB Bank PJSC 13,697,647 —
*,3 Sistema AFK PAO 38,691,860 —
*,3 Severstal PAO 2,474,213 —
*,3 Alrosa PJSC 35,072,120 —
*,3 Polyus PJSC GDR 523,471 —
*,3 Credit Bank of Moscow PJSC 180,568,640 —
*,3 Sovcomflot PJSC 4,516,141 —
*,3 Bank St. Petersburg PJSC 3,060,330 —
*,1,3 Segezha Group PJSC 18,427,200 —
*,3 PhosAgro PJSC GDR 9,292 —
            —
Saudi Arabia (3.6%)
  Al Rajhi Bank 26,132,700 738,618
1 Saudi Arabian Oil Co. 79,219,490 547,367
  Saudi National Bank 38,827,432 413,146
* Saudi Arabian Mining Co. 17,918,150 308,044
  Saudi Telecom Co. 25,124,043 302,660
  Saudi Basic Industries Corp. 11,995,678 195,249
* ACWA Power Co. 3,015,139 194,781
  Riyad Bank 19,597,625 142,305
  Saudi Awwal Bank 13,230,153 114,156
  Alinma Bank 16,385,400 113,455
  SABIC Agri-Nutrients Co. 3,107,212 101,450
  Dr Sulaiman Al Habib Medical Services Group Co. 1,361,301 98,907
  Etihad Etisalat Co. 5,066,078 91,400
  Almarai Co. JSC 6,516,043 86,391
  Elm Co. 321,969 81,451
  Bank AlBilad 9,846,010 77,799
  Banque Saudi Fransi 16,230,527 77,242
  Arab National Bank 11,850,859 76,646
  Bupa Arabia for Cooperative Insurance Co. 1,030,601 45,122
  Saudi Electricity Co. 10,325,378 44,079
* Umm Al Qura for Development & Construction Co. 5,686,911 36,763
* Jabal Omar Development Co. 7,666,243 36,113
  Co. for Cooperative Insurance 976,607 35,505
  Saudi Tadawul Group Holding Co. 638,471 33,904
  Yanbu National Petrochemical Co. 3,674,419 33,786
  Riyadh Cables Group Co. 864,637 32,621
* Dar Al Arkan Real Estate Development Co. 6,998,807 32,232
  Makkah Construction & Development Co. 1,292,892 30,663
  Jarir Marketing Co. 7,987,186 30,250
  Saudi Investment Bank 8,195,134 30,038
* Bank Al-Jazira 8,543,370 28,732
  Aldrees Petroleum & Transport Services Co. 647,347 26,496
  Dallah Healthcare Co. 614,916 25,252
  Mouwasat Medical Services Co. 1,223,905 25,086
  SAL Saudi Logistics Services 520,911 24,462
* Saudi Research & Media Group 523,588 24,003
  Sahara International Petrochemical Co. 4,754,314 23,961
  Arabian Internet & Communications Services Co. 327,260 21,980
  Electrical Industries Co. 7,109,701 21,898
* Al Rajhi Co. for Co-operative Insurance 650,279 20,443
  Ades Holding Co. 4,511,701 20,388
  Nahdi Medical Co. 645,890 19,995
  Astra Industrial Group Co. 490,956 19,488
  Saudi Industrial Investment Group 4,437,203 19,216
  Mobile Telecommunications Co. Saudi Arabia 6,179,028 18,910
1 Arabian Centres Co. 3,066,422 17,918
  Saudi Aramco Base Oil Co. 674,024 17,321
* Advanced Petrochemical Co. 1,663,191 16,773
  Saudia Dairy & Foodstuff Co. 201,929 15,475
* Saudi Kayan Petrochemical Co. 9,720,203 15,286
  Jamjoom Pharmaceuticals Factory Co. 361,762 15,031
  Taiba Investments Co. 1,381,916 14,894
* Seera Group Holding 1,767,891 14,630
  Saudi Ground Services Co. 1,232,244 14,574
57

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Catrion Catering Holding Co. 536,593 13,835
  National Medical Care Co. 292,789 13,834
* National Industrialization Co. 4,385,012 13,527
* Rabigh Refining & Petrochemical Co. 5,541,427 13,268
* Savola Group 1,957,098 12,843
  National Co. for Learning & Education 277,607 12,821
  United Electronics Co. 511,015 12,087
* Rasan Information Technology Co. 410,673 12,062
  Abdullah Al Othaim Markets Co. 5,902,787 11,985
  Al Masane Al Kobra Mining Co. 578,164 11,659
  Arriyadh Development Co. 1,474,538 11,582
  Leejam Sports Co. JSC 333,734 11,396
  National Gas & Industrialization Co. 474,340 11,250
* Power & Water Utility Co. for Jubail & Yanbu 989,055 11,133
*,2 National Agriculture Development Co. 1,952,612 10,858
  Saudi Chemical Co. Holding 5,490,653 10,800
  United International Transportation Co. 503,471 9,936
  Al Hammadi Holding 1,062,902 9,902
  Saudi Cement Co. 969,625 9,895
  Yamama Cement Co. 1,328,793 9,734
  Almoosa Health Co. 170,654 9,093
* Saudi Reinsurance Co. 1,094,225 9,067
  AlKhorayef Water & Power Technologies Co. 225,057 9,025
  Retal Urban Development Co. Class A 2,862,300 9,003
  Al Rajhi REIT 4,006,690 8,965
* Saudi Automotive Services Co. 468,574 8,959
  Arabian Drilling Co. 364,695 8,612
  Qassim Cement Co. 743,844 8,360
* Arabian Contracting Services Co. 260,462 8,310
  East Pipes Integrated Co. for Industry 207,968 8,062
  Dr Soliman Abdel Kader Fakeeh Hospital Co. 704,689 7,959
  Al Moammar Information Systems Co. 195,288 7,843
* Emaar Economic City 2,243,579 7,618
* Jahez International Co. 1,312,231 7,443
  Middle East Healthcare Co. 541,586 7,387
* Saudi Real Estate Co. 1,758,693 6,773
  Etihad Atheeb Telecommunication Co. 233,283 6,689
* Saudi Pharmaceutical Industries & Medical Appliances Corp. 785,268 6,343
  Al-Dawaa Medical Services Co. 361,830 6,321
* Bawan Co. 411,190 6,199
  BinDawood Holding Co. 3,800,274 5,827
  Southern Province Cement Co. 824,772 5,501
  Saudi Ceramic Co. 624,691 5,095
* Perfect Presentation For Commercial Services Co. 1,832,797 4,987
  Yanbu Cement Co. 984,906 4,253
* Advanced Building Industries Co. 413,316 3,941
* Middle East Paper Co. 534,636 3,849
  Almunajem Foods Co. 242,458 3,743
  Eastern Province Cement Co. 539,541 3,723
  Arabian Cement Co. 564,512 3,332
  City Cement Co. 806,433 3,134
            5,104,178
South Africa (3.8%)
  Naspers Ltd. 10,654,147 748,305
  Gold Fields Ltd. 11,963,055 461,249
  Anglogold Ashanti plc 6,724,990 461,091
  FirstRand Ltd. 71,061,689 337,251
  Standard Bank Group Ltd. 17,535,351 257,855
  Capitec Bank Holdings Ltd. 1,119,711 247,733
  Valterra Platinum Ltd. 3,533,773 218,561
  MTN Group Ltd. 21,781,523 217,609
  Impala Platinum Holdings Ltd. 11,987,597 128,471
  Harmony Gold Mining Co. Ltd. 7,315,457 121,719
  Absa Group Ltd. 10,278,965 114,856
  Sanlam Ltd. 21,490,071 112,771
  Bid Corp. Ltd. 4,487,068 111,074
  Shoprite Holdings Ltd. 6,266,591 104,819
*,2 Sibanye Stillwater Ltd. 36,975,457 98,122
  Discovery Ltd. 7,184,840 90,269
58

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Nedbank Group Ltd. 5,989,272 81,650
  Northam Platinum Holdings Ltd. 4,752,347 79,367
1,2 Pepkor Holdings Ltd. 46,962,641 71,605
  Remgro Ltd. 6,706,342 66,516
  NEPI Rockcastle NV 8,102,908 65,712
  Clicks Group Ltd. 3,080,312 64,948
  Reinet Investments SCA 1,782,824 57,098
  Bidvest Group Ltd. 4,348,915 56,572
* Sasol Ltd. 8,587,084 53,726
  Vodacom Group Ltd. 6,243,970 50,547
  Old Mutual Ltd. 62,896,472 49,182
  OUTsurance Group Ltd. 11,424,324 48,077
  Tiger Brands Ltd. 2,240,661 42,401
  Mr. Price Group Ltd. 3,417,114 40,827
  Growthpoint Properties Ltd. 43,285,752 40,699
  Woolworths Holdings Ltd. 12,407,186 37,462
  Exxaro Resources Ltd. 3,182,240 32,410
  Momentum Group Ltd. 15,851,686 30,519
  Redefine Properties Ltd. 88,750,147 27,651
  Aspen Pharmacare Holdings Ltd. 4,807,664 27,231
  Pan African Resources plc 22,848,362 25,312
  AVI Ltd. 4,357,780 24,233
  Foschini Group Ltd. 4,270,513 22,669
  Investec Ltd. 2,885,711 21,725
  Fortress Real Estate Investments Ltd. Class B 15,699,584 21,120
  Vukile Property Fund Ltd. 15,964,177 20,863
* SPAR Group Ltd. 2,628,397 16,531
  Hyprop Investments Ltd. 5,170,400 15,332
  Resilient REIT Ltd. 3,694,114 15,056
  Truworths International Ltd. 4,862,795 14,563
2 Kumba Iron Ore Ltd. 724,063 14,420
  Netcare Ltd. 17,068,262 14,394
  DRDGOLD Ltd. 5,646,112 14,259
  African Rainbow Minerals Ltd. 1,364,095 13,547
1 Dis-Chem Pharmacies Ltd. 6,882,201 13,462
  Life Healthcare Group Holdings Ltd. 19,289,834 13,205
  Coronation Fund Managers Ltd. 4,206,016 11,940
  Santam Ltd. 481,999 11,497
  Motus Holdings Ltd. 1,904,885 11,478
* Pick n Pay Stores Ltd. 6,971,094 11,380
  Telkom SA SOC Ltd. 3,800,730 10,631
  DataTec Ltd. 2,539,492 10,532
  Sappi Ltd. 7,945,165 10,410
  Equites Property Fund Ltd. 10,423,821 10,161
  Omnia Holdings Ltd. 2,216,061 9,744
  We Buy Cars Holdings Ltd. 3,443,713 9,132
*,2 Boxer Retail Ltd. 2,068,162 9,074
  Attacq Ltd. 9,912,267 8,663
  JSE Ltd. 1,038,079 8,435
  Ninety One Ltd. 2,611,446 7,770
  Grindrod Ltd. 7,536,166 7,365
  Thungela Resources Ltd. 1,627,737 7,193
  Reunert Ltd. 2,209,920 7,123
  AECI Ltd. 1,373,568 7,083
  Astral Foods Ltd. 512,599 6,616
* MAS plc 4,699,627 5,714
  Sun International Ltd. 2,078,757 4,652
  Wilson Bayly Holmes-Ovcon Ltd. 463,926 4,051
  Burstone Group Ltd. 7,741,748 4,040
  Super Group Ltd. 4,323,631 4,004
2 Afrimat Ltd. 1,515,253 3,974
* KAP Ltd. 34,065,686 3,234
*,3 MultiChoice Group 309,540 2,220
            5,344,762
Taiwan (22.3%)
  Taiwan Semiconductor Manufacturing Co. Ltd. 324,132,605 15,674,952
  Hon Hai Precision Industry Co. Ltd. 162,174,761 1,348,870
  MediaTek Inc. 19,547,630 829,004
  Delta Electronics Inc. 25,675,356 825,819
59

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  ASE Technology Holding Co. Ltd. 43,513,723 348,143
2 Quanta Computer Inc. 35,089,200 340,303
  Fubon Financial Holding Co. Ltd. 110,934,635 328,319
  CTBC Financial Holding Co. Ltd. 234,669,062 318,700
2 Cathay Financial Holding Co. Ltd. 124,482,347 258,337
2 Accton Technology Corp. 6,589,610 229,165
  Mega Financial Holding Co. Ltd. 157,022,499 206,437
  Asustek Computer Inc. 9,080,937 205,152
2 Asia Vital Components Co. Ltd. 4,307,995 197,223
  E.Sun Financial Holding Co. Ltd. 203,826,954 196,886
2 Wistron Corp. 40,217,535 194,907
  Wiwynn Corp. 1,376,280 194,082
2 United Microelectronics Corp. 121,624,270 183,680
  Chunghwa Telecom Co. Ltd. 39,439,663 168,051
  Uni-President Enterprises Corp. 65,416,868 167,135
2 Yageo Corp. 20,617,848 165,950
  Yuanta Financial Holding Co. Ltd. 144,904,748 162,242
2 Elite Material Co. Ltd. 3,681,156 161,734
  Lite-On Technology Corp. 25,828,084 149,841
  TS Financial Holding Co. Ltd. 239,068,838 145,236
  First Financial Holding Co. Ltd. 144,234,727 133,786
  SinoPac Financial Holdings Co. Ltd. 158,429,915 131,876
  Chroma ATE Inc. 4,909,280 129,982
2 Alchip Technologies Ltd. 1,056,463 119,020
  Hua Nan Financial Holdings Co. Ltd. 123,645,312 117,312
  KGI Financial Holding Co. Ltd. 209,582,316 108,111
  Realtek Semiconductor Corp. 6,467,959 108,006
  Taiwan Cooperative Financial Holding Co. Ltd. 139,348,342 107,695
  King Yuan Electronics Co. Ltd. 15,140,280 106,155
2 Bizlink Holding Inc. 2,333,892 104,905
2 King Slide Works Co. Ltd. 754,000 100,027
  Largan Precision Co. Ltd. 1,275,076 91,518
2 Unimicron Technology Corp. 17,346,979 91,428
2 China Steel Corp. 150,262,308 90,669
2 Evergreen Marine Corp. Taiwan Ltd. 14,439,958 90,584
2 Nan Ya Plastics Corp. 65,466,819 88,092
2 Phison Electronics Corp. 2,241,080 77,264
2 Jentech Precision Industrial Co. Ltd. 1,103,283 75,648
  MPI Corp. 1,093,000 74,111
  E Ink Holdings Inc. 10,720,440 73,649
*,2 Winbond Electronics Corp. 41,463,203 72,517
  Far EasTone Telecommunications Co. Ltd. 23,842,723 71,603
2 ASPEED Technology Inc. 402,011 71,294
2 Novatek Microelectronics Corp. 5,459,560 69,561
2 International Games System Co. Ltd. 2,966,200 69,312
2 Formosa Plastics Corp. 55,707,057 68,840
  Hotai Motor Co. Ltd. 3,689,357 67,639
  Taiwan Mobile Co. Ltd. 18,940,941 67,408
2 Gold Circuit Electronics Ltd. 4,455,481 66,895
2 Chailease Holding Co. Ltd. 19,788,762 66,145
  Tripod Technology Corp. 5,964,040 65,957
  Shanghai Commercial & Savings Bank Ltd. 50,802,935 65,399
  Gigabyte Technology Co. Ltd. 7,144,850 64,770
* Caliway Biopharmaceuticals Co. Ltd. 13,192,000 63,994
  Chang Hwa Commercial Bank Ltd. 99,187,385 63,791
*,2 Nanya Technology Corp. 14,935,878 63,784
2 TCC Group Holdings Co. Ltd. 88,804,717 63,715
  Advantech Co. Ltd. 6,102,694 61,987
  Pegatron Corp. 25,653,213 61,716
2 PharmaEssentia Corp. 3,768,671 60,887
  United Integrated Services Co. Ltd. 2,170,800 60,424
  Compal Electronics Inc. 56,046,900 59,889
  eMemory Technology Inc. 928,100 59,768
2 Teco Electric & Machinery Co. Ltd. 15,870,320 59,728
2 Globalwafers Co. Ltd. 3,389,810 55,732
2 Airtac International Group 1,857,830 54,797
2 President Chain Store Corp. 7,054,449 54,630
  Global Unichip Corp. 1,101,960 54,481
2 Powertech Technology Inc. 9,151,550 51,122
2 Inventec Corp. 34,077,966 50,577
60

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
2 Lotes Co. Ltd. 1,110,151 49,497
2 United Microelectronics Corp. ADR 6,294,441 48,530
  Chunghwa Telecom Co. Ltd. ADR 1,124,464 47,880
  Taiwan Business Bank 95,128,683 47,384
2 Catcher Technology Co. Ltd. 7,167,956 46,221
2 Zhen Ding Technology Holding Ltd. 8,648,710 45,670
2 Fortune Electric Co. Ltd. 1,903,027 43,999
2 Yang Ming Marine Transport Corp. 23,334,725 43,535
*,2 Powerchip Semiconductor Manufacturing Corp. 42,820,000 43,466
2 Vanguard International Semiconductor Corp. 13,804,431 43,214
2 Formosa Chemicals & Fibre Corp. 44,473,449 42,083
  Eva Airways Corp. 35,781,760 42,003
  Innolux Corp. 97,400,295 41,949
2 WPG Holdings Ltd. 20,875,720 40,828
2 WT Microelectronics Co. Ltd. 8,733,205 40,487
2 Taiwan Union Technology Corp. 3,057,052 38,117
2 Mitac Holdings Corp. 11,740,191 37,897
2 Compeq Manufacturing Co. Ltd. 13,167,760 37,215
2 Acer Inc. 38,114,897 37,136
  Asia Cement Corp. 30,630,510 36,103
2 Walsin Lihwa Corp. 37,093,044 35,928
  Chicony Electronics Co. Ltd. 8,441,458 35,599
2 Voltronic Power Technology Corp. 899,325 35,232
  Taichung Commercial Bank Co. Ltd. 50,301,691 34,970
  Far Eastern New Century Corp. 39,847,963 34,291
2 Acter Group Corp. Ltd. 1,345,832 33,593
2 L&K Engineering Co. Ltd. 2,136,102 33,046
2 Eclat Textile Co. Ltd. 2,477,209 32,923
2 Wan Hai Lines Ltd. 12,249,646 32,684
2 Fositek Corp. 689,372 32,317
2 Micro-Star International Co. Ltd. 9,098,200 32,252
2 Silergy Corp. 4,383,560 31,539
2 Foxconn Technology Co. Ltd. 13,197,663 30,507
2 AUO Corp. 76,794,039 30,199
2 Synnex Technology International Corp. 16,353,800 30,149
2 TA Chen Stainless Pipe 25,222,894 30,065
2 Sino-American Silicon Products Inc. 7,224,742 29,235
2 AURAS Technology Co. Ltd. 849,000 28,904
2 Hiwin Technologies Corp. 3,975,308 28,702
2 WinWay Technology Co. Ltd. 336,000 28,514
  Pou Chen Corp. 29,853,021 28,405
2 Makalot Industrial Co. Ltd. 3,131,244 27,320
  Advanced Echem Materials Co. Ltd. 926,174 26,693
2 Nien Made Enterprise Co. Ltd. 2,200,560 26,362
2 Nan Ya Printed Circuit Board Corp. 2,805,521 26,296
  Cheng Shin Rubber Industry Co. Ltd. 24,926,095 25,840
  Radiant Opto-Electronics Corp. 6,027,751 25,821
2 Chung-Hsin Electric & Machinery Manufacturing Corp. 5,199,000 25,811
2 Simplo Technology Co. Ltd. 2,232,310 25,411
2 Topco Scientific Co. Ltd. 2,281,992 25,285
2 ADATA Technology Co. Ltd. 3,892,319 24,987
  Taiwan High Speed Rail Corp. 27,388,912 24,344
2 Getac Holdings Corp. 5,257,420 23,551
* Macronix International Co. Ltd. 23,309,737 23,499
2 Highwealth Construction Corp. 18,543,997 23,486
2 Feng TAY Enterprise Co. Ltd. 5,886,867 23,301
2 Chenbro Micom Co. Ltd. 772,000 23,069
  ASMedia Technology Inc. 492,857 23,012
2 Formosa Petrochemical Corp. 15,825,977 23,010
2 Shihlin Electric & Engineering Corp. 3,342,964 21,607
2 Co-Tech Development Corp. 2,825,000 21,450
2 Parade Technologies Ltd. 970,290 21,378
2 Sinbon Electronics Co. Ltd. 3,058,475 20,962
2 Lotus Pharmaceutical Co. Ltd. 2,177,000 20,885
2 Kaori Heat Treatment Co. Ltd. 1,018,450 20,518
  Sigurd Microelectronics Corp. 5,952,546 20,139
  Lien Hwa Industrial Holdings Corp. 12,574,756 19,726
  Ruentex Development Co. Ltd. 20,344,300 19,706
  WNC Corp. 4,763,526 19,330
2 EZconn Corp. 618,582 18,712
61

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
2 Dynapack International Technology Corp. 1,833,000 18,201
  AP Memory Technology Corp. 1,373,120 17,951
2 Faraday Technology Corp. 2,992,198 17,664
  Capital Securities Corp. 22,092,773 17,529
2 Tatung Co. Ltd. 14,911,628 17,478
  IBF Financial Holdings Co. Ltd. 35,265,285 17,462
2 Bora Pharmaceuticals Co. Ltd. 848,949 17,131
  Ardentec Corp. 5,643,522 17,101
2 Kinsus Interconnect Technology Corp. 3,709,530 16,372
  Primax Electronics Ltd. 5,991,940 16,123
2 Chipbond Technology Corp. 8,143,630 15,760
2 Win Semiconductors Corp. 4,511,519 15,683
2 Elite Advanced Laser Corp. 1,755,349 15,495
2 Tong Yang Industry Co. Ltd. 4,902,350 15,381
  Qisda Corp. 15,261,128 15,335
2 LandMark Optoelectronics Corp. 1,116,470 15,324
2 Walsin Technology Corp. 3,801,521 15,253
2 Advanced Energy Solution Holding Co. Ltd. 400,000 15,227
2 Genius Electronic Optical Co. Ltd. 1,105,299 15,019
  Far Eastern International Bank 36,264,425 14,897
2 China Airlines Ltd. 22,834,146 14,804
2 Elan Microelectronics Corp. 3,615,870 14,522
2 Ruentex Industries Ltd. 8,309,961 14,497
2 Innodisk Corp. 1,033,544 14,426
*,2 HTC Corp. 8,789,301 14,338
2 Eternal Materials Co. Ltd. 10,814,298 14,326
2 Asia Optical Co. Inc. 2,824,260 14,325
2 Taiwan Hon Chuan Enterprise Co. Ltd. 3,474,523 14,246
2 Shin Zu Shing Co. Ltd. 2,056,011 14,037
2 Supreme Electronics Co. Ltd. 6,507,991 13,942
2 Global Brands Manufacture Ltd. 3,650,332 13,806
2 Giant Manufacturing Co. Ltd. 4,154,193 13,687
2 Sunonwealth Electric Machine Industry Co. Ltd. 2,800,000 13,667
2 Chunghwa Precision Test Tech Co. Ltd. 262,153 13,654
  Great Wall Enterprise Co. Ltd. 7,951,626 13,430
2 Kinik Co. 1,319,000 13,392
2 Foxsemicon Integrated Technology Inc. 1,108,642 13,288
2 Pixart Imaging Inc. 1,762,680 13,232
2 Taiwan Fertilizer Co. Ltd. 8,406,186 13,140
*,2 Starlux Airlines Co. Ltd. 16,744,271 13,058
2 Jinan Acetate Chemical Co. Ltd. 6,624,060 12,963
*,2 Fulltech Fiber Glass Corp. 5,473,000 12,808
  Tung Ho Steel Enterprise Corp. 6,265,602 12,782
*,2 FOCI Fiber Optic Communications Inc. 1,088,000 12,624
2 AcBel Polytech Inc. 8,937,079 12,603
  Grand Process Technology Corp. 267,000 12,547
  Arcadyan Technology Corp. 1,918,219 12,536
2 Goldsun Building Materials Co. Ltd. 10,588,415 12,449
2 Solar Applied Materials Technology Corp. 6,409,607 12,319
2 Sanyang Motor Co. Ltd. 6,275,330 12,313
2 Ta Ya Electric Wire & Cable 8,962,255 12,202
  Poya International Co. Ltd. 821,208 12,136
  Taiwan Surface Mounting Technology Corp. 3,400,110 12,121
2 Huaku Development Co. Ltd. 3,525,921 11,927
*,2 Taiwan Glass Industry Corp. 13,092,290 11,879
2 Ennoconn Corp. 1,241,758 11,768
2 Taiwan Speciality Chemicals Corp. 1,062,000 11,654
2 All Ring Tech Co. Ltd. 972,000 11,584
2 Century Iron & Steel Industrial Co. Ltd. 2,324,000 11,561
2 Yankey Engineering Co. Ltd. 770,430 11,491
*,2 China Petrochemical Development Corp. 46,471,041 11,317
2 Kinpo Electronics 15,240,670 11,216
  Feng Hsin Steel Co. Ltd. 5,420,200 11,149
2 Wiselink Co. Ltd. 1,858,934 11,133
2 YFY Inc. 13,456,703 11,097
2 Wisdom Marine Lines Co. Ltd. 5,401,155 11,066
2 ITEQ Corp. 2,914,357 11,034
2 VisEra Technologies Co. Ltd. 1,325,000 11,031
  Yulon Finance Corp. 3,524,309 11,006
  Taiwan Secom Co. Ltd. 3,117,876 10,939
62

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
2 Visual Photonics Epitaxy Co. Ltd. 2,428,960 10,866
2 First Hi-Tec Enterprise Co. Ltd. 952,000 10,854
2 Phoenix Silicon International Corp. 1,929,495 10,799
2 Pan Jit International Inc. 3,916,740 10,692
2 Sercomm Corp. 3,295,600 10,562
  Shinkong Insurance Co. Ltd. 2,862,000 10,463
2 Universal Microwave Technology Inc. 734,000 10,463
2 Transcend Information Inc. 2,441,069 10,455
2 Merry Electronics Co. Ltd. 3,131,858 10,406
  Hannstar Board Corp. 3,337,470 10,209
2 XinTec Inc. 2,060,225 10,196
2 TXC Corp. 3,515,630 10,150
2 Fusheng Precision Co. Ltd. 1,283,920 10,098
2 U-Ming Marine Transport Corp. 5,508,108 9,951
2 Sitronix Technology Corp. 1,519,070 9,870
  Charoen Pokphand Enterprise 2,216,343 9,868
* Mercuries Life Insurance Co. Ltd. 41,886,155 9,848
2 Test Research Inc. 1,938,660 9,823
2 Allis Electric Co. Ltd. 2,729,480 9,768
  Systex Corp. 2,316,000 9,733
2 LuxNet Corp. 1,456,000 9,592
  Tong Hsing Electronic Industries Ltd. 2,356,919 9,574
2 Silicon Integrated Systems Corp. 5,338,260 9,569
2 Elite Semiconductor Microelectronics Technology Inc. 3,275,000 9,539
  Taiwan Cogeneration Corp. 5,888,192 9,228
  President Securities Corp. 11,968,265 9,205
2 Coretronic Corp. 3,174,900 9,002
  Orient Semiconductor Electronics Ltd. 5,723,792 8,988
2 Pan-International Industrial Corp. 4,947,000 8,987
2 Ability Enterprise Co. Ltd. 3,227,802 8,958
2 Gudeng Precision Industrial Co. Ltd. 780,487 8,904
2 Dynamic Holding Co. Ltd. 3,049,533 8,864
2 Merida Industry Co. Ltd. 2,714,526 8,797
2 Everlight Electronics Co. Ltd. 4,518,410 8,592
2 Nan Pao Resins Chemical Co. Ltd. 719,000 8,567
  Machvision Inc. 468,306 8,527
  Ennostar Inc. 7,585,726 8,433
  Greatek Electronics Inc. 3,648,000 8,342
  Cleanaway Co. Ltd. 1,062,000 8,340
2 CTCI Corp. 8,397,850 8,325
*,2 Oneness Biotech Co. Ltd. 3,950,424 8,302
  ITE Technology Inc. 1,960,000 8,287
2 Quanta Storage Inc. 2,373,000 8,175
* BES Engineering Corp. 16,375,000 8,151
2 Marketech International Corp. 1,022,000 8,128
*,2 FLEXium Interconnect Inc. 3,954,990 8,105
2 momo.com Inc. 1,065,112 8,069
2 Yulon Motor Co. Ltd. 7,499,580 7,996
* Lumosa Therapeutics Co. Ltd. 1,162,161 7,936
  ChipMOS Technologies Inc. 7,530,148 7,922
* Center Laboratories Inc. 7,175,090 7,921
  EVERGREEN Steel Corp. 2,242,000 7,741
2 Airoha Technology Corp. 473,000 7,658
2 Holy Stone Enterprise Co. Ltd. 2,045,262 7,567
*,2 Wafer Works Corp. 7,197,744 7,298
2 Unitech Printed Circuit Board Corp. 8,531,970 7,265
2 Run Long Construction Co. Ltd. 5,857,502 7,231
2 Scientech Corp. 618,000 7,123
  Far Eastern Department Stores Ltd. 10,044,878 7,061
2 Evergreen Aviation Technologies Corp. 1,461,000 7,018
2 Nan Kang Rubber Tire Co. Ltd. 5,870,520 6,900
2 Anpec Electronics Corp. 883,000 6,851
2 C Sun Manufacturing Ltd. 1,198,910 6,851
2 Cheng Uei Precision Industry Co. Ltd. 4,277,673 6,839
2 Shiny Chemical Industrial Co. Ltd. 1,426,200 6,752
  TTY Biopharm Co. Ltd. 2,591,160 6,698
2 Wah Lee Industrial Corp. 2,276,194 6,666
2 Chenming Electronic Technology Corp. 1,654,929 6,643
2 Shinkong Synthetic Fibers Corp. 15,184,400 6,581
  Wowprime Corp. 924,689 6,476
63

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
2 Raydium Semiconductor Corp. 819,000 6,472
2 Sakura Development Co. Ltd. 4,140,432 6,468
  Union Bank of Taiwan 10,709,320 6,453
2 Global Mixed Mode Technology Inc. 852,000 6,444
2 Gloria Material Technology Corp. 5,832,640 6,442
2 Advanced Wireless Semiconductor Co. 1,770,266 6,364
  Stark Technology Inc. 1,222,000 6,340
  Sinon Corp. 4,534,000 6,289
2 G Shank Enterprise Co. Ltd. 2,011,000 6,275
2 Chang Wah Electromaterials Inc. 4,265,000 6,263
2 China Motor Corp. 3,282,844 6,214
2 Nichidenbo Corp. 2,116,460 6,199
2 Solomon Technology Corp. 1,445,871 6,149
2 Farglory Land Development Co. Ltd. 3,461,550 6,065
* CSBC Corp. Taiwan 9,532,197 6,047
2 ASROCK Inc. 581,000 6,044
  Taiwan Paiho Ltd. 3,250,140 6,029
2 Hota Industrial Manufacturing Co. Ltd. 3,103,178 5,981
*,2 TaiMed Biologics Inc. 2,576,929 5,979
*,2 Episil Technologies Inc. 3,262,189 5,968
2 Pegavision Corp. 538,314 5,954
2 Channel Well Technology Co. Ltd. 2,372,672 5,944
2 Fitipower Integrated Technology Inc. 1,202,043 5,924
  Evergreen International Storage & Transport Corp. 3,181,500 5,919
  Synmosa Biopharma Corp. 5,393,050 5,881
  Chong Hong Construction Co. Ltd. 2,299,000 5,880
2 WUS Printed Circuit Co. Ltd. 1,780,156 5,866
2 I-Chiun Precision Industry Co. Ltd. 2,457,000 5,843
*,2 HannStar Display Corp. 25,143,193 5,830
  Kenda Rubber Industrial Co. Ltd. 8,908,288 5,801
2 Depo Auto Parts Ind Co. Ltd. 1,306,000 5,786
2 Fulgent Sun International Holding Co. Ltd. 1,846,410 5,746
2 Via Technologies Inc. 3,375,620 5,745
2 Altek Corp. 3,548,969 5,696
2 Chang Wah Technology Co. Ltd. 4,350,500 5,689
  Grape King Bio Ltd. 1,414,529 5,677
2 Zero One Technology Co. Ltd. 1,527,209 5,670
2 Tainan Spinning Co. Ltd. 13,785,000 5,643
  Topkey Corp. 926,000 5,601
  Cheng Loong Corp. 10,071,230 5,592
2 Thinking Electronic Industrial Co. Ltd. 912,000 5,582
2 Kenmec Mechanical Engineering Co. Ltd. 2,441,868 5,563
  Cathay Real Estate Development Co. Ltd. 7,496,984 5,558
2 Johnson Health Tech Co. Ltd. 1,072,000 5,551
  Standard Foods Corp. 5,380,603 5,490
2 Chicony Power Technology Co. Ltd. 1,876,000 5,487
2 JPC connectivity Inc. 1,014,750 5,484
  Taiwan Sakura Corp. 1,974,000 5,467
2 RichWave Technology Corp. 1,084,736 5,423
*,2 Chung Hung Steel Corp. 11,297,000 5,422
  Clevo Co. 4,218,000 5,414
2 Ichia Technologies Inc. 3,254,000 5,365
2 Sporton International Inc. 922,062 5,362
  Ton Yi Industrial Corp. 9,135,000 5,331
  O-Bank Co. Ltd. 17,976,453 5,289
2 Kuo Toong International Co. Ltd. 2,764,514 5,181
  Lian HWA Food Corp. 1,437,700 5,177
*,2 EirGenix Inc. 2,364,868 5,142
2 Hotai Finance Co. Ltd. 2,566,080 5,136
2 Kindom Development Co. Ltd. 4,746,060 5,132
2 China Steel Chemical Corp. 1,936,000 5,123
2 Taiflex Scientific Co. Ltd. 2,316,594 5,110
2 Chin-Poon Industrial Co. Ltd. 4,750,890 5,053
*,2 Yieh Phui Enterprise Co. Ltd. 10,521,825 5,040
  Universal Cement Corp. 5,001,140 5,033
2 Nuvoton Technology Corp. 2,518,000 5,022
2 Weikeng Industrial Co. Ltd. 5,256,000 5,012
2 Lai Yih Footwear Co. Ltd. 710,000 5,010
2 SDI Corp. 1,797,236 4,972
  Hu Lane Associate Inc. 1,160,519 4,959
64

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
2 FocalTech Systems Co. Ltd. 2,587,482 4,954
  TPK Holding Co. Ltd. 4,187,288 4,937
*,2 Andes Technology Corp. 567,539 4,916
2 CyberPower Systems Inc. 621,000 4,814
  Formosa International Hotels Corp. 776,000 4,804
2 Taiwan Semiconductor Co. Ltd. 2,685,290 4,784
2 Posiflex Technology Inc. 680,764 4,770
* General Interface Solution GIS Holding Ltd. 2,971,070 4,758
  Brighton-Best International Taiwan Inc. 4,363,526 4,751
2 HD Renewable Energy Co. Ltd. 1,107,746 4,670
2 Allied Supreme Corp. 581,000 4,656
2 Flytech Technology Co. Ltd. 1,348,650 4,650
2 Gemtek Technology Corp. 5,470,000 4,644
2 JSL Construction & Development Co. Ltd. 2,794,955 4,631
  Formosa Taffeta Co. Ltd. 9,551,632 4,620
2 UPI Semiconductor Corp. 751,000 4,572
*,2 Etron Technology Inc. 3,852,140 4,553
2 Promate Electronic Co. Ltd. 2,925,136 4,506
* Polaris Group 4,004,533 4,454
2 Forcecon Tech Co. Ltd. 1,217,546 4,319
2 M31 Technology Corp. 325,901 4,308
  YungShin Global Holding Corp. 2,348,536 4,300
2 Materials Analysis Technology Inc. 652,000 4,295
*,2 Sunplus Technology Co. Ltd. 5,973,000 4,167
*,2 Phihong Technology Co. Ltd. 4,214,706 4,167
  Chief Telecom Inc. 352,800 4,143
*,2 Egis Technology Inc. 925,100 4,118
2 Swancor Holding Co. Ltd. 1,015,000 4,107
  China Bills Finance Corp. 7,573,000 4,100
2 Kaimei Electronic Corp. 1,332,000 4,047
*,2 Microbio Co. Ltd. 5,604,803 4,008
  TCI Co. Ltd. 1,082,549 3,996
2 Zyxel Group Corp. 3,495,819 3,979
2 Delpha Construction Co. Ltd. 4,115,000 3,956
  Dimerco Express Corp. 1,506,884 3,939
*,2 Grand Pacific Petrochemical 11,748,088 3,934
2 Waffer Technology Corp. 1,702,773 3,903
  TSRC Corp. 7,995,940 3,893
  CMC Magnetics Corp. 12,978,313 3,841
2 Shinfox Energy Co. Ltd. 1,939,973 3,834
2 Actron Technology Corp. 837,479 3,777
2 Genesys Logic Inc. 1,073,000 3,746
* United Renewable Energy Co. Ltd. 16,836,629 3,736
2 Weltrend Semiconductor 2,322,567 3,632
*,2 CyberTAN Technology Inc. 4,196,000 3,623
* RDC Semiconductor Co. Ltd. 773,280 3,591
2 Great Tree Pharmacy Co. Ltd. 995,414 3,573
*,2 Medigen Vaccine Biologics Corp. 3,098,930 3,559
  Continental Holdings Corp. 4,985,000 3,507
  USI Corp. 10,295,861 3,458
*,2 Taiwan-Asia Semiconductor Corp. 4,410,987 3,453
2 TYC Brother Industrial Co. Ltd. 2,200,000 3,421
2 Syncmold Enterprise Corp. 1,515,500 3,388
2 Hung Sheng Construction Ltd. 4,830,464 3,346
* Foresee Pharmaceuticals Co. Ltd. 1,308,799 3,341
2 Amazing Microelectronic Corp. 1,028,244 3,332
  AmTRAN Technology Co. Ltd. 7,263,092 3,309
2 Sincere Navigation Corp. 4,207,240 3,305
2 Ability Opto-Electronics Technology Co. Ltd. 1,033,103 3,302
*,2 Taiwan TEA Corp. 7,237,000 3,268
2 D-Link Corp. 5,978,400 3,231
2 Hsin Kuang Steel Co. Ltd. 2,504,000 3,229
2 Everlight Chemical Industrial Corp. 5,245,200 3,185
2 Advancetek Enterprise Co. Ltd. 2,766,000 3,161
* International CSRC Investment Holdings Co. 9,410,270 3,126
  Taiwan PCB Techvest Co. Ltd. 2,708,000 3,104
*,2 Lung Yen Life Service Corp. 1,821,000 3,078
2 IEI Integration Corp. 1,410,920 3,066
2 Alpha Networks Inc. 2,904,772 3,053
  Darfon Electronics Corp. 2,609,000 3,048
65

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
2 FSP Technology Inc. 1,548,120 3,043
  Ambassador Hotel 2,173,000 3,033
2 ZillTek Technology Corp. 462,000 3,029
2 Cub Elecparts Inc. 918,735 3,027
*,2 Holtek Semiconductor Inc. 2,271,483 2,984
  YC INOX Co. Ltd. 4,747,902 2,966
*,2 TSEC Corp. 6,490,908 2,956
  UPC Technology Corp. 8,951,041 2,945
* Oriental Union Chemical Corp. 7,471,582 2,901
  Chun Yuan Steel Industry Co. Ltd. 4,664,000 2,899
2 Lingsen Precision Industries Ltd. 4,340,000 2,897
2 T3EX Global Holdings Corp. 1,276,000 2,893
2 TaiDoc Technology Corp. 723,000 2,888
  Rechi Precision Co. Ltd. 3,808,000 2,855
  Mercuries & Associates Holding Ltd. 6,091,282 2,830
* Longchen Paper & Packaging Co. Ltd. 9,186,632 2,794
  Bank of Kaohsiung Co. Ltd. 7,042,492 2,770
2 St. Shine Optical Co. Ltd. 648,000 2,750
*,2 Career Technology MFG. Co. Ltd. 5,669,324 2,724
  Sunny Friend Environmental Technology Co. Ltd. 1,007,497 2,709
2 Gamania Digital Entertainment Co. Ltd. 1,401,916 2,703
2 Formosa Sumco Technology Corp. 833,000 2,691
* Ritek Corp. 8,306,489 2,686
2 Advanced International Multitech Co. Ltd. 1,373,000 2,663
2 China Metal Products 3,043,000 2,596
2 TA-I Technology Co. Ltd. 1,277,165 2,593
  Nantex Industry Co. Ltd. 3,578,000 2,592
  Sampo Corp. 3,220,800 2,575
2 PharmaEngine Inc. 1,112,457 2,570
2 Motech Industries Inc. 4,643,897 2,562
  Radium Life Tech Co. Ltd. 7,147,465 2,553
*,2 Tong-Tai Machine & Tool Co. Ltd. 2,414,000 2,538
  Ho Tung Chemical Corp. 9,501,459 2,530
2 Advanced Ceramic X Corp. 651,105 2,512
2 Yungshin Construction & Development Co. Ltd. 1,002,931 2,490
  Kung Long Batteries Industrial Co. Ltd. 630,333 2,488
*,2 Gigastorage Corp. 3,932,259 2,418
  Firich Enterprises Co. Ltd. 3,110,184 2,405
2 Universal Vision Biotechnology Co. Ltd. 512,970 2,384
2 Elitegroup Computer Systems Co. Ltd. 3,608,000 2,371
*,2 Adimmune Corp. 3,832,825 2,370
2 Tung Thih Electronic Co. Ltd. 996,424 2,365
  Wei Chuan Foods Corp. 4,806,261 2,351
  Sinyi Realty Inc. 3,191,000 2,350
2 Huang Hsiang Construction Corp. 1,732,360 2,320
2 Soft-World International Corp. 695,653 2,305
  Hong Pu Real Estate Development Co. Ltd. 2,711,000 2,299
  Zeng Hsing Industrial Co. Ltd. 746,778 2,238
  Bioteque Corp. 559,475 2,238
2 Speed Tech Corp. 1,460,000 2,237
  Gourmet Master Co. Ltd. 984,469 2,233
  Chlitina Holding Ltd. 685,013 2,225
* China Man-Made Fiber Corp. 10,712,016 2,174
  ScinoPharm Taiwan Ltd. 3,809,576 2,169
* Lealea Enterprise Co. Ltd. 10,106,367 2,139
  Tyntek Corp. 3,721,000 2,111
2 China General Plastics Corp. 5,855,926 2,110
2 Adlink Technology Inc. 1,091,895 2,099
2 91APP Inc. 887,243 2,077
2 Sensortek Technology Corp. 336,000 2,074
  Xxentria Technology Materials Corp. 1,838,069 2,063
2 Rich Development Co. Ltd. 7,461,640 2,055
  Savior Lifetec Corp. 3,677,325 2,043
2 CHC Healthcare Group 1,457,899 2,041
*,2 Chung Hwa Pulp Corp. 4,914,000 1,994
*,2 Federal Corp. 3,107,040 1,992
*,2 Taiwan Mask Corp. 1,576,272 1,965
2 Infortrend Technology Inc. 2,636,000 1,960
  Panion & BF Biotech Inc. 903,579 1,945
2 KMC Kuei Meng International Inc. 660,000 1,931
66

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
*,2 OBI Pharma Inc. 2,386,481 1,928
  Darwin Precisions Corp. 5,272,110 1,915
2 Iron Force Industrial Co. Ltd. 611,020 1,885
2 Brogent Technologies Inc. 609,792 1,883
*,2 Fittech Co. Ltd. 841,753 1,879
*,2 Taiwan Styrene Monomer 6,803,050 1,864
*,2 Apex International Co. Ltd. 2,754,664 1,859
  Cyberlink Corp. 601,674 1,832
* ALI Corp. 1,967,365 1,799
* Shining Building Business Co. Ltd. 5,959,638 1,754
2 Asia Polymer Corp. 4,261,340 1,735
  Sonix Technology Co. Ltd. 1,515,000 1,728
* First Steamship Co. Ltd. 9,120,968 1,708
  Formosan Rubber Group Inc. 2,211,821 1,707
2 Namchow Holdings Co. Ltd. 1,310,000 1,648
  KEE TAI Properties Co. Ltd. 4,715,850 1,617
  Taiyen Biotech Co. Ltd. 1,558,000 1,615
* PChome Online Inc. 1,386,358 1,569
2 Rexon Industrial Corp. Ltd. 1,749,525 1,567
* Kuo Yang Construction Co. Ltd. 2,530,900 1,550
2 AGV Products Corp. 4,511,370 1,510
* Medigen Biotechnology Corp. 1,470,000 1,411
* Li Peng Enterprise Co. Ltd. 7,788,000 1,405
  Basso Industry Corp. 1,277,000 1,353
  Ultra Chip Inc. 852,000 1,258
* HannsTouch Holdings Co. 5,605,115 1,165
  Chia Hsin Cement Corp. 2,698,400 1,135
  China Electric Manufacturing Corp. 2,552,180 1,048
  Cenra Inc. 873,500 964
  ASE Technology Holding Co. Ltd. ADR 28,912 463
  AUO Corp. ADR 67,176 266
  Nan Liu Enterprise Co. Ltd. 56,000 80
*,3 Taiwan Land Development Corp. 573,970 —
*,3 Pharmally International Holding Co. Ltd. 612,856 —
            31,561,417
Thailand (1.6%)
  Delta Electronics Thailand PCL (Foreign) 38,293,700 256,139
  PTT PCL (Foreign) 163,884,115 155,855
  Advanced Info Service PCL (Foreign) 14,232,706 132,950
  Kasikornbank PCL (Foreign) 19,710,835 113,615
  CP ALL PCL (Foreign) 71,834,921 102,138
  SCB X PCL (Foreign) 21,819,890 88,371
* Gulf Development PCL (Foreign) 58,498,345 79,903
  Bangkok Dusit Medical Services PCL (Foreign) 136,867,520 79,869
  Airports of Thailand PCL (Foreign) 50,527,044 64,441
  PTT Exploration & Production PCL (Foreign) 17,503,084 57,998
  Central Pattana PCL (Foreign) 32,946,724 54,640
  Krung Thai Bank PCL (Foreign) 59,626,796 50,206
  Bumrungrad Hospital PCL (Foreign) 7,698,974 40,866
  Minor International PCL (Foreign) 49,498,521 35,198
2 Siam Cement PCL NVDR 5,008,996 31,603
  Charoen Pokphand Foods PCL (Foreign) 45,545,417 29,695
2 TMBThanachart Bank PCL (Foreign) 510,013,800 29,187
  Siam Cement PCL (Foreign) 4,147,988 26,170
  Bangkok Bank PCL NVDR 5,296,400 25,954
* True Corp. PCL (Foreign) 67,351,123 23,521
2 Central Retail Corp. PCL (Foreign) 35,916,800 22,734
2 PTT Global Chemical PCL (Foreign) 28,245,179 22,034
*,2 True Corp. PCL NVDR 60,976,401 21,294
  Kasikornbank PCL NVDR 3,692,375 21,283
  Digital Telecommunications Infrastructure Fund 67,621,313 19,455
  Banpu PCL (Foreign) 107,179,173 16,721
2 Tisco Financial Group PCL (Foreign) 4,969,568 16,519
  Krung Thai Bank PCL NVDR 19,542,000 16,455
  Thai Oil PCL (Foreign) 14,522,306 16,061
  Kiatnakin Phatra Bank PCL (Foreign) 7,715,170 15,682
2 PTT Oil & Retail Business PCL (Foreign) 32,810,800 14,894
  Indorama Ventures PCL (Foreign) 24,429,035 14,414
2 Home Product Center PCL (Foreign) 64,622,084 13,076
67

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Thanachart Capital PCL (Foreign) 8,040,456 12,683
  Bangkok Expressway & Metro PCL (Foreign) 79,167,422 12,630
  TIDLOR Holdings PCL (Foreign) 19,100,658 12,410
2 CP Axtra PCL (Foreign) 20,432,401 12,376
  Bangkok Bank PCL (Foreign) 2,465,641 12,082
2 Muangthai Capital PCL (Foreign) 9,288,545 11,612
  Thai Union Group PCL (Foreign) 28,382,679 11,495
  Srisawad Corp. PCL (Foreign) 12,879,216 11,253
  Com7 PCL (Foreign) 14,481,200 11,182
2 Global Power Synergy PCL (Foreign) 8,449,340 10,831
  3BB Internet Infrastructure Fund 50,801,937 10,606
  Tisco Financial Group PCL NVDR 3,157,493 10,495
* BTS Group Holdings PCL (Foreign) 114,475,420 10,420
  Electricity Generating PCL (Foreign) 2,682,111 10,202
  WHA Corp. PCL (Foreign) 100,484,306 10,106
  Bangchak Corp. PCL (Foreign) 9,875,366 9,011
  KCE Electronics PCL (Foreign) 11,411,414 8,990
  Krungthai Card PCL (Foreign) 10,145,031 8,946
  CPN Retail Growth Leasehold REIT 25,339,826 8,940
  Osotspa PCL (Foreign) 18,010,200 8,737
  Thai Life Insurance PCL (Foreign) 26,679,900 8,493
2 Land & Houses PCL NVDR 69,452,280 8,361
2 Ratch Group PCL NVDR 9,088,602 7,797
  Sansiri PCL (Foreign) 179,174,406 7,756
2 SCG Packaging PCL (Foreign) 13,621,000 7,659
2 AP Thailand PCL (Foreign) 28,080,042 7,514
  Central Plaza Hotel PCL (Foreign) 7,478,213 7,451
  Cal-Comp Electronics Thailand PCL (Foreign) 39,472,900 7,421
  Supalai PCL (Foreign) 13,394,285 7,082
2 Asset World Corp. PCL (Foreign) 98,255,800 6,676
  CH Karnchang PCL (Foreign) 13,576,763 6,417
2 Carabao Group PCL (Foreign) 4,454,805 6,187
*,2 Energy Absolute PCL (Foreign) 63,285,392 5,978
2 Berli Jucker PCL (Foreign) 10,336,090 5,843
  Hana Microelectronics PCL (Foreign) 7,807,083 5,591
  Thailand Future Fund 28,884,000 5,404
  B Grimm Power PCL (Foreign) 10,613,247 5,313
  Bangkok Commercial Asset Management PCL (Foreign) 24,010,000 5,012
2 Thaifoods Group PCL (Foreign) 35,053,775 4,925
  MBK PCL (Foreign) 9,585,237 4,888
  TTW PCL (Foreign) 17,136,034 4,795
  Bangkok Chain Hospital PCL (Foreign) 13,314,045 4,648
  Bangkok Dusit Medical Services PCL NVDR 7,849,700 4,581
*,2 Thai Airways International PCL (Foreign) 14,720,268 4,505
2 Siam Global House PCL (Foreign) 20,533,300 4,377
  Thai Vegetable Oil PCL (Foreign) 5,750,091 4,307
  Betagro PCL (Foreign) 8,563,100 4,239
2 IRPC PCL (Foreign) 119,022,814 4,230
2 VGI PCL (Foreign) 107,691,210 4,162
  WHA Premium Growth Freehold & Leasehold REIT 13,722,727 4,112
  Amata Corp. PCL (Foreign) 9,103,523 4,059
  BCPG PCL (Foreign) 15,822,842 4,032
  Tipco Asphalt PCL (Foreign) 9,060,430 3,897
  AEON Thana Sinsap Thailand PCL (Foreign) 1,192,000 3,887
  I-TAIL Corp. PCL (Foreign) 7,227,800 3,837
  Land & Houses PCL (Foreign) 30,968,900 3,728
2 Sri Trang Agro-Industry PCL (Foreign) 10,093,361 3,710
  Mega Lifesciences PCL (Foreign) 4,022,200 3,669
  Bangkok Airways PCL (Foreign) 8,290,624 3,332
  Gunkul Engineering PCL (Foreign) 51,043,666 3,249
2 Banpu Power PCL (Foreign) 8,077,239 3,194
  SCB X PCL NVDR 786,320 3,185
* Stecon Group PCL (Foreign) 12,375,963 3,141
2 Plan B Media PCL (Foreign) 24,128,760 3,117
2 Quality Houses PCL (Foreign) 75,992,951 3,101
  Bangkok Life Assurance PCL NVDR 5,323,100 2,963
  MK Restaurants Group PCL (Foreign) 2,887,600 2,921
  Star Petroleum Refining PCL (Foreign) 19,585,568 2,907
  Dhipaya Group Holdings PCL (Foreign) 4,106,900 2,769
2 Sri Trang Gloves Thailand PCL (Foreign) 13,212,600 2,731
68

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Chularat Hospital PCL (Foreign) 55,782,746 2,705
  PTG Energy PCL (Foreign) 10,941,946 2,702
  Bangkok Life Assurance PCL (Foreign) 4,727,791 2,632
  Ratch Group PCL (Foreign) 2,979,456 2,556
  Siam City Cement PCL (Foreign) 525,000 2,306
  Thoresen Thai Agencies PCL (Foreign) 16,320,187 2,220
  TOA Paint Thailand PCL (Foreign) 5,334,334 2,131
2 JMT Network Services PCL (Foreign) 7,006,464 2,110
  Precious Shipping PCL (Foreign) 9,584,963 1,982
2 CK Power PCL (Foreign) 24,798,172 1,962
*,2 Jasmine Technology Solution PCL (Foreign) 2,454,792 1,932
*,2 Thonburi Healthcare Group PCL (Foreign) 7,572,058 1,886
*,2 Jasmine International PCL (Foreign) 43,225,803 1,884
  TPI Polene Power PCL (Foreign) 29,322,100 1,868
* SKY ICT PCL (Foreign) 4,672,665 1,776
* Thaicom PCL (Foreign) 5,846,885 1,724
  GFPT PCL (Foreign) 5,288,796 1,685
  Bangkok Land PCL (Foreign) 108,355,678 1,673
2 Jaymart Group Holdings PCL (Foreign) 6,880,000 1,657
2 Dohome PCL (Foreign) 13,229,168 1,595
  Major Cineplex Group PCL (Foreign) 3,963,297 871
  SPCG PCL (Foreign) 2,951,404 757
  Pruksa Real Estate PCL (Foreign) 11,775,000 677
  TQM Alpha PCL (Foreign) 1,401,000 533
* Gulf Development PCL NVDR 254,534 348
*,2 Energy Absolute PCL NVDR 2,928,600 277
* Super Energy Corp. PCL (Foreign) 19,920,519 80
  Pruksa Holding PCL (Foreign) 605,530 70
* Forth Corp. PCL (Foreign) 3,300 1
            2,211,701
Turkiye (0.9%)
  Aselsan Elektronik Sanayi ve Ticaret A/S 15,812,842 76,448
2 BIM Birlesik Magazalar A/S 5,799,362 74,267
2 Akbank TAS 41,277,646 59,600
2 Turkiye Petrol Rafinerileri A/S 12,172,146 57,137
2 Turk Hava Yollari AO 7,329,505 50,754
2 KOC Holding A/S 9,555,735 38,915
2 Turkcell Iletisim Hizmetleri A/S 16,153,475 38,246
2 Haci Omer Sabanci Holding A/S 18,340,580 35,505
*,2 Yapi ve Kredi Bankasi A/S 44,265,365 35,313
2 Turkiye Is Bankasi A/S Class C 110,359,921 33,125
2 Eregli Demir ve Celik Fabrikalari TAS 46,531,032 30,379
2 Turkiye Garanti Bankasi A/S 8,031,927 25,653
2 Ford Otomotiv Sanayi A/S 9,429,057 22,232
2 Enka Insaat ve Sanayi A/S 12,003,750 22,144
*,2 TAV Havalimanlari Holding A/S 2,450,029 15,399
*,2 Pegasus Hava Tasimaciligi A/S 3,085,215 15,383
* Tera Yatirim Menkul Degerler A/S 2,914,408 14,936
2 Turkiye Sise ve Cam Fabrikalari A/S 17,060,287 14,894
2 Migros Ticaret A/S 1,281,312 13,801
* Peker Gayrimenkul Yatirim Ortakligi A/S 45,764,574 13,055
2 Coca-Cola Icecek A/S 10,590,239 12,946
2 Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 26,421,778 12,664
*,2 Destek Finans Faktoring A/S 795,556 12,090
*,2 Sasa Polyester Sanayi A/S 155,143,550 11,320
* Ufuk Yatirim Yonetim ve Gayrimenkul A/S 236,335 11,072
2 Tofas Turk Otomobil Fabrikasi A/S 1,739,554 10,908
* Kiler Holding A/S 3,275,626 10,594
  AG Anadolu Grubu Holding A/S 15,291,528 9,322
* Pasifik Eurasia Lojistik Dis Ticaret A/S 2,884,422 9,143
2 Anadolu Efes Biracilik ve Malt Sanayii A/S Class B 26,219,678 9,051
2 Astor Transformator Enerji Turizm Insaat ve Petrol Sanayi Ticaret A/S 3,756,181 8,767
1,2 Mavi Giyim Sanayi ve Ticaret A/S Class B 8,685,895 8,317
*,2 Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S 12,523,364 8,147
  Yeni Gimat Gayrimenkul Ortakligi A/S 2,416,470 7,900
* Ral Yatirim Holding A/S 1,654,539 7,798
*,2 Turk Telekomunikasyon A/S 6,360,353 7,711
*,2 Arcelik A/S 2,890,576 7,594
* Gubre Fabrikalari TAS 1,002,334 7,538
69

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Turkiye Sigorta A/S 24,936,278 7,320
  Is Yatirim Menkul Degerler A/S 6,966,996 7,279
2 Ulker Biskuvi Sanayi A/S 2,795,388 7,172
  Enerya Enerji A/S 30,753,057 7,140
* Tera Yatirim Teknoloji Holding A/S 7,216,477 7,083
*,2 Petkim Petrokimya Holding A/S 16,725,961 6,821
2 Oyak Cimento Fabrikalari A/S 13,159,761 6,638
  Ziraat Gayrimenkul Yatirim Ortakligi A/S 11,709,568 6,442
1 Enerjisa Enerji A/S 3,242,255 6,356
*,2 Turk Altin Isletmeleri A/S 9,117,937 5,815
*,2 Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A/S 498,022 5,698
* Ahlatci Dogal Gaz Dagitim Enerji ve Yatirim A/S 8,339,182 5,693
*,2 Koza Anadolu Metal Madencilik Isletmeleri A/S 2,635,876 5,664
*,1 MLP Saglik Hizmetleri A/S 692,699 5,535
  Aksa Akrilik Kimya Sanayii A/S 18,742,500 5,522
* Adese Alisveris Merkezleri Ticaret A/S 61,489,890 5,330
* Reysas Tasimacilik ve Lojistik Ticaret A/S 15,048,449 5,325
*,2 Kuyumcukent Gayrimenkul Yatirimlari A/S 4,339,861 5,255
* Otokar Otomotiv ve Savunma Sanayi A/S 477,415 5,211
  Grainturk Tarim A/S 474,923 5,191
2 Cimsa Cimento Sanayi ve Ticaret A/S 4,587,255 5,171
  Borusan Yatirim ve Pazarlama A/S 88,419 5,141
*,2 Turkiye Vakiflar Bankasi TAO 8,451,087 4,904
* Turkiye Sinai Kalkinma Bankasi A/S 15,918,812 4,871
* Isiklar Enerji ve Yapi Holding A/S 5,925,448 4,814
  Nuh Cimento Sanayi A/S 828,945 4,806
*,2 Turkiye Halk Bankasi A/S 7,517,178 4,751
2 Dogus Otomotiv Servis ve Ticaret A/S 1,097,294 4,704
  LDR Turizm A/S 3,092,075 4,688
  Anadolu Anonim Turk Sigorta Sirketi 8,447,762 4,655
  GEN Ilac ve Saglik Urunleri Sanayi ve Ticaret A/S 1,003,682 4,565
* Lydia Yesil Enerji Kaynaklari Anonimsirketi 9,356 4,512
*,2 Hektas Ticaret TAS 52,929,375 4,488
* Margun Enerji Uretim Sanayi ve Ticaret A/S 6,356,870 4,472
  EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A/S 2,076,227 4,464
  Katilimevim Tasarruf Finansman A/S 13,411,709 4,459
2 Kontrolmatik Enerji ve Muhendislik A/S 5,950,200 4,447
* Lydia Holding A/S 950,611 4,385
  Global Yatirim Holding A/S 15,685,594 4,354
  Turk Traktor ve Ziraat Makineleri A/S 319,509 4,156
*,2 Sok Marketler Ticaret A/S 3,954,330 4,156
* Aksa Enerji Uretim A/S Class B 3,355,029 4,145
2 Dogan Sirketler Grubu Holding A/S 9,918,075 4,027
  Efor Yatirim Sanayi Ticaret A/S 1,159,828 3,911
* Reysas Gayrimenkul Yatirim Ortakligi A/S 7,863,003 3,855
  Torunlar Gayrimenkul Yatirim Ortakligi A/S 2,094,880 3,823
* Bera Holding A/S 8,587,304 3,748
* Baticim Bati Anadolu Cimento Sanayii A/S 35,814,599 3,737
* Sinpas Gayrimenkul Yatirim Ortakligi A/S 32,148,666 3,736
  Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A/S 9,964,987 3,624
  EGE Endustri ve Ticaret A/S 18,124 3,522
  TAB Gida Sanayi ve Ticaret A/S 622,436 3,514
2 Alarko Holding A/S 1,817,059 3,480
*,2 Tekfen Holding A/S 1,729,528 3,461
  Logo Yazilim Sanayi ve Ticaret A/S 861,224 3,423
  Albaraka Turk Katilim Bankasi A/S 17,217,301 3,363
  Aygaz A/S 713,806 3,351
* DAP Gayrimenkul Gelistirme A/S Class C 9,961,068 3,324
  AKIS Gayrimenkul Yatirimi A/S 16,547,483 3,108
*,2 MIA Teknoloji A/S 3,455,335 3,059
  Sekerbank Turk A/S 15,694,503 2,986
* Europen Endustri Insaat Sanayi ve Ticaret A/S 13,423,412 2,821
* Can2 Termik A/S 48,494,938 2,789
* Is Gayrimenkul Yatirim Ortakligi A/S 5,935,677 2,771
* Odine Solutions Teknoloji Ticaret ve Sanayi A/S 538,746 2,690
* Qua Granite Hayal 12,559,974 2,607
  Selcuk Ecza Deposu Ticaret ve Sanayi A/S 1,382,885 2,557
* Izdemir Enerji Elektrik Uretim A/S 11,163,160 2,556
* NET Holding A/S 1,905,149 2,255
* Politeknik Metal Sanayi ve Ticaret A/S 11,009 2,246
70

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  GUR-Sel Turizm Tasimacilik ve Servis Ticaret A/S 274,737 2,228
* BatiSoke Soke Cimento Sanayii TAS 5,791,744 2,216
* ODAS Elektrik Uretim ve Sanayi Ticaret A/S 15,686,085 2,198
* Ronesans Gayrimenkul Yatirim A/S 591,521 2,191
* Kizilbuk Gayrimenkul Yatirim Ortakligi A/S 5,054,848 1,953
  Anadolu Hayat Emeklilik A/S 793,401 1,946
* Gulermak Agir Sanayi Insaat ve Taahhut A/S 418,344 1,942
* Tukas Gida Sanayi ve Ticaret A/S 28,498,412 1,938
* Investco Holding A/S 249,693 1,922
  Agesa Hayat ve Emeklilik A/S 384,450 1,918
* Europower Enerji ve Otomasyon Teknolojileri Sanayi Ticaret A/S 2,758,835 1,877
* CW Enerji Muhendislik Ticaret ve Sanayi A/S 2,922,593 1,853
* Girsim Elektrik Sanayi Taahut ve Ticaret A/S 1,648,570 1,847
* Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class A 2,697,495 1,843
* Akfen Yenilenebilir Enerji A/S 4,454,157 1,823
  Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi A/S 1,820,022 1,808
  Bursa Cimento Fabrikasi A/S 11,747,464 1,806
* Zorlu Enerji Elektrik Uretim A/S 21,851,659 1,739
*,2 Ipek Dogal Enerji Kaynaklari Arastirma ve Uretim A/S 930,678 1,722
  Kocaer Celik Sanayi ve Ticaret A/S 5,129,882 1,682
  Eczacibasi Yatirim Holding Ortakligi A/S 242,871 1,681
  Akcansa Cimento A/S 526,035 1,668
* Pasifik Donanim ve Yazilim Bilgi Teknolojileri A/S 2,309,779 1,648
* Is Finansal Kiralama A/S 3,435,914 1,573
* Biotrend Cevre ve Enerji Yatirimlari A/S 2,784,484 1,547
* Kayseri Seker Fabrikasi A/S 3,582,251 1,544
  Iskenderun Demir ve Celik A/S 1,653,060 1,518
* YEO Teknoloji Enerji ve Endustri A/S 1,846,454 1,506
* Konya Cimento Sanayii A/S 12,328 1,505
* Ozak Gayrimenkul Yatirim Ortakligi 4,198,100 1,385
* Oyak Yatirim Menkul Degerler A/S 1,063,773 1,372
* Smart Gunes Enerjisi Teknolojileri ArGE Uretim Sanayi ve Ticaret A/S 2,103,019 1,353
*,2 Vestel Elektronik Sanayi ve Ticaret A/S 1,668,315 1,321
* Fenerbahce Futbol A/S 5,379,743 1,301
*,2 Marmara Holding A/S 17,962,200 1,286
  Alfa Solar Enerji Sanayi ve Ticaret A/S 1,221,266 1,281
* Reeder Teknoloji Sanayi ve Ticaret A/S 5,243,653 1,266
* Esenboga Elektrik Uretim A/S 6,769,707 1,256
* Karsan Otomotiv Sanayii ve Ticaret A/S 4,848,218 1,247
* Aksigorta A/S 7,074,128 1,175
* Hitit Bilgisayar Hizmetleri A/S 1,025,926 1,169
* Yatas Yatak ve Yorgan Sanayi ve Ticaret A/S 1,296,605 1,156
* Kervan Gida Sanayi ve Ticaret A/S Class B 18,913,590 1,156
* Goltas Goller Bolgesi Cimento Sanayi ve Ticaret A/S 145,518 1,149
* Altinay Savunma Teknolojileri A/S 715,428 1,143
* Kaleseramik Canakkale Kalebodur Seramik Sanayi A/S 1,520,292 1,135
* Link Bilgisayar Sistemleri Yazilimi ve Donanimi Sanayi ve Ticaret A/S 150,593 1,123
* Tumosan Motor ve Traktor Sanayi A/S 420,746 1,096
  Suwen Tekstil Sanayi Pazarlama A/S 3,906,517 1,094
* Penta Teknoloji Urunleri Dagitim Ticaret A/S 2,982,074 1,091
* Galata Wind Enerji A/S 1,791,002 1,087
  Ebebek Magazacilik A/S Class B 825,696 1,066
* Yayla Agro Gida Sanayi ve Nakliyat A/S 4,071,609 1,064
* Vakif Gayrimenkul Yatirim Ortakligi A/S 17,701,969 1,060
  Brisa Bridgestone Sabanci Sanayi ve Ticaret A/S 464,497 976
  Celebi Hava Servisi A/S 26,275 973
* Kordsa Teknik Tekstil A/S 726,453 966
* SUN Tekstil Sanayi ve Ticaret A/S 1,015,172 966
* Izmir Demir Celik Sanayi A/S 6,233,306 946
* Besiktas Futbol Yatirimlari Sanayi ve Ticaret A/S 19,416,940 900
* Visne Madencilik Uretim Sanayi ve Ticaret A/S 284,411 895
* Polisan Holding A/S 2,072,796 864
* Imas Makina Sanayi A/S 6,424,648 818
  Vestel Beyaz Esya Sanayi ve Ticaret A/S 3,885,477 812
  Anadolu Isuzu Otomotiv Sanayi ve Ticaret A/S Class C 579,900 792
* Bagfas Bandirma Gubre Fabrikalari A/S 895,852 734
  Escar Turizm Tasimacilik Ticaret A/S 1,475,422 731
* Agrotech Yueksek Teknoloji ve Yatirim A/S 3,940,891 710
* Besler Gida ve Kimya Sanayi ve Ticaret A/S 2,114,067 705
* Aydem Yenilenebilir Enerji A/S 1,534,075 693
71

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
* Kimteks Poliuretan Sanayi ve Ticaret A/S 1,586,720 639
* Karel Elektronik Sanayi ve Ticaret A/S 2,451,038 611
* Tat Gida Sanayi A/S 1,818,842 598
  Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A/S 373,253 591
* Kartonsan Karton Sanayi ve Ticaret A/S 241,482 485
            1,272,889
United Arab Emirates (1.7%)
  Emaar Properties PJSC 82,894,237 320,771
  First Abu Dhabi Bank PJSC 58,988,047 280,017
  Emirates Telecommunications Group Co. PJSC 46,426,475 245,122
  Emirates NBD Bank PJSC 24,126,516 184,613
  Abu Dhabi Commercial Bank PJSC 38,840,208 152,382
  Aldar Properties PJSC 50,739,040 124,317
  Abu Dhabi Islamic Bank PJSC 19,405,458 111,506
  Dubai Islamic Bank PJSC 38,736,477 100,204
  Dubai Electricity & Water Authority PJSC 119,638,219 90,514
  Adnoc Gas plc 92,330,029 87,726
  Alpha Dhabi Holding PJSC 21,137,048 57,615
  ADNOC Drilling Co. PJSC 35,381,633 53,754
  Emaar Development PJSC 11,108,303 45,123
* Modon Holding PSC 42,488,879 42,215
  Salik Co. PJSC 25,127,334 40,906
  Abu Dhabi National Oil Co. for Distribution PJSC 38,706,440 37,829
* Multiply Group PJSC 44,669,724 36,295
  ADNOC Logistics & Services 21,712,497 33,916
  Air Arabia PJSC 30,736,498 32,614
  Agility Global plc 95,892,988 28,448
  Borouge plc 40,229,681 27,505
  Dubai Investments PJSC 28,265,682 25,560
  GFH Financial Group BSC 39,521,816 23,866
  Pure Health Holding PJSC 29,683,769 22,717
  Americana Restaurants International plc - Foreign Co. 37,829,082 21,532
  NMDC Group PJSC 2,939,408 19,137
  Dana Gas PJSC 74,382,365 16,769
  Talabat Holding plc 62,317,539 16,221
  Parkin Co. PJSC 9,971,002 15,040
* Abu Dhabi Ports Co. PJSC 11,503,159 14,362
  Abu Dhabi National Hotels 110,030,417 13,353
  Lulu Retail Holdings plc 41,104,942 13,200
* Gulf Navigation Holding PJSC 5,215,784 12,949
* Phoenix Group plc 35,404,707 11,948
  Emirates Central Cooling Systems Corp. 26,101,246 11,227
* Presight AI Holding plc 10,911,946 10,720
  Fertiglobe plc 15,402,017 10,482
* Apex Investment Co. PSC 9,966,820 10,441
  Dubai Financial Market PJSC 21,085,002 8,849
* RAK Properties PJSC 18,821,190 7,231
* Space42 plc 13,531,819 6,847
  Ajman Bank PJSC 14,785,072 5,877
  Amanat Holdings PJSC 18,293,287 5,725
  Agthia Group PJSC 3,953,064 4,163
* Ghitha Holding PJSC 527,380 3,368
* Aramex PJSC 1,740,306 1,298
* AL Seer Marine Supplies & Equipment Co. LLC 589,647 477
*,3 Arabtec Holding PJSC 10,929,061 —
            2,446,751
Total Common Stocks (Cost $86,510,376) 138,853,397
Preferred Stocks (1.1%)
  Itau Unibanco Holding SA Preference Shares 59,894,911 439,085
  Petroleo Brasileiro SA - Petrobras Preference Shares 58,848,991 325,423
  Banco Bradesco SA Preference Shares 62,697,465 211,635
  Itausa SA Preference Shares 76,770,643 166,243
* Sociedad Quimica y Minera de Chile SA Preference Shares Class B 1,695,165 82,477
  Gerdau SA Preference Shares 17,055,386 60,043
  Cia Energetica de Minas Gerais Preference Shares 17,495,723 36,878
  Centrais Eletricas Brasileiras SA Preference Shares Class B 2,853,834 31,504
  Embotelladora Andina SA Preference Shares Class B 5,187,740 23,335
  Cia Paranaense de Energia - Copel Preference Shares Class B 7,572,267 19,592
72

 

Emerging Markets Stock Index Fund
          Shares Market
Value•
($000)
  Grupo Cibest SA Preference Shares 1,332,760 19,466
  Isa Energia Brasil SA Preference Shares 3,684,278 17,196
  Metalurgica Gerdau SA Preference Shares 8,278,433 17,065
  Grupo de Inversiones Suramericana SA Preference Shares 1,308,309 13,882
  Marcopolo SA Preference Shares 9,082,897 13,321
  Bradespar SA Preference Shares 3,319,799 11,440
  Unipar Carbocloro SA Preference Shares Class B 705,000 9,304
  Banco Pan SA Preference Shares 3,790,591 7,292
  Banco do Estado do Rio Grande do Sul SA Preference Shares Class B 2,641,392 6,746
* Usinas Siderurgicas de Minas Gerais SA Usiminas Preference Shares Class A 6,378,669 6,722
  Banco ABC Brasil SA Preference Shares 1,255,300 5,369
  Alpargatas SA Preference Shares 2,084,854 4,100
  Cia de Ferro Ligas da Bahia FERBASA Preference Shares 2,204,636 3,217
* Raizen SA Preference Shares 15,932,485 2,813
  Randoncorp SA Preference Shares 2,454,834 2,761
* Braskem SA Preference Shares Class A 2,079,169 2,612
* Azul SA Preference Shares 10,629,446 2,252
*,3 Mechel PJSC Preference Shares 899,940 —
  KGI Financial Holding Co. Ltd. Preference Shares 1,001 —
*,3 TVS Motor Co. Ltd. Preference Shares 12,428,628 —
Total Preferred Stocks (Cost $1,426,803) 1,541,773
Rights (0.0%)
*,3 Tera Yatirim Teknoloji Holding A/S Exp. 11/4/2025 7,192,317 6,673
* Oncoclinicas do Brasil Servicos Medicos SA Exp. 11/7/2025 2,875,737 16
*,3 Taichung Commercial Bank Co. Ltd. Exp. 12/8/2025 635,066 —
Total Rights (Cost $2,958) 6,689
Warrants (0.0%)
* Malaysian Resources Corp. Bhd. Exp. 10/29/2027 3,624,441 30
* VGI PCL Exp. 5/23/2027 18,209,185 17
Total Warrants (Cost $—) 47
Temporary Cash Investments (3.8%)
Money Market Fund (3.8%)
4,5 Vanguard Market Liquidity Fund, 4.141% (Cost $5,418,330) 54,189,599 5,418,960
Total Investments (103.0%) (Cost $93,358,467)   145,820,866
Other Assets and Liabilities—Net (-3.0%)   (4,300,381)
Net Assets (100%)   141,520,485
Cost is in $000.
• See Note A in Notes to Financial Statements.
* Non-income-producing security.
1 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2025, the aggregate value was $8,227,867, representing 5.8% of net assets.
2 Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,677,764.
3 Security value determined using significant unobservable inputs.
4 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
5 Collateral of $2,923,856 was received for securities on loan, of which $2,922,737 is held in Vanguard Market Liquidity Fund and $1,119 is held in cash.
  ADR—American Depositary Receipt.
  GDR—Global Depositary Receipt.
  NVDR—Non-Voting Depositary Receipt.
  REIT—Real Estate Investment Trust.
73

 

Emerging Markets Stock Index Fund
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
      ($000)
  Expiration Number of
Long (Short)
Contracts 		Notional
Amount 		Value and
Unrealized
Appreciation
(Depreciation)
Long Futures Contracts
MSCI Emerging Markets Index December 2025 8,300 584,154 14,284
    
Forward Currency Contracts
  Contract
Settlement
Date 		Contract Amount (000) Unrealized
Appreciation
($000) 		Unrealized
(Depreciation)
($000)
Counterparty   Receive   Deliver
UBS AG 12/17/2025 INR 40,459,087 USD 456,282 — (1,547)
Toronto-Dominion Bank 12/17/2025 INR 31,676,125 USD 357,457 — (1,436)
JPMorgan Chase Bank, N.A. 12/17/2025 INR 26,748,446 USD 302,632 — (1,996)
Citibank, N.A. 12/17/2025 INR 25,407,403 USD 286,364 — (799)
Bank of America, N.A. 12/17/2025 INR 24,623,884 USD 277,600 — (842)
Royal Bank of Canada 12/17/2025 INR 8,428,818 USD 95,195 — (460)
JPMorgan Chase Bank, N.A. 12/17/2025 USD 86,091 BRL 479,010 — (2,021)
JPMorgan Chase Bank, N.A. 12/17/2025 USD 89,776 HKD 697,342 — (26)
Standard Chartered Bank 12/17/2025 USD 27,423 THB 863,088 637 —
JPMorgan Chase Bank, N.A. 12/17/2025 USD 90,700 TWD 2,711,450 2,230 —
            2,867 (9,127)
    
BRL—Brazilian real.
HKD—Hong Kong dollar.
INR—Indian rupee.
THB—Thai baht.
TWD—Taiwanese dollar.
USD—U.S. dollar.
    
Over-the-Counter Total Return Swaps
Reference Entity Termination
Date 		Counterparty Notional
Amount
($000) 		Floating
Interest
Rate
Received
(Paid)1
(%) 		Value and
Unrealized
Appreciation
($000) 		Value and
Unrealized
(Depreciation)
($000)
China Airlines Ltd. 4/22/2026 BANA 10,262 (0.839) — (510)
East Money Information Co. Ltd. Class A 10/22/2026 MSCS 14,929 (3.767) — (616)
FTSE China A Stock Connect CNY All Cap Index 6/4/2026 BANA 332,908 2.168 1,367 —
KOC Holding A/S 4/22/2026 BANA 20,791 (0.339) — (392)
Novatek Microelectronics Corp. 4/22/2026 GSI 29,233 1.450 — (1,138)
Raia Drogasil SA 4/22/2026 GSI 30,575 1.600 939 —
Sungrow Power Supply Co. Ltd. Class A 4/22/2026 MSCS 17,066 0.918 3,047 —
TOTVS SA 4/22/2026 GSI 15,149 5.000 911 —
TS Financial Holding Co. Ltd. 10/22/2026 MSCS 29,529 (2.089) 834 —
          7,098 (2,656)
1 Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly.
  BANA—Bank of America, N.A.
  GSI—Goldman Sachs International.
  MSCS—Morgan Stanley Capital Services LLC.
At October 31, 2025, the counterparties had deposited in segregated accounts securities with a value of $14,380 and cash of $970 in connection with open forward currency contracts and over-the-counter swap contracts.
See accompanying Notes, which are an integral part of the Financial Statements.
74

 

Emerging Markets Stock Index Fund
Statement of Assets and Liabilities
As of October 31, 2025
($000s, except shares and per-share amounts) Amount
Assets  
Investments in Securities, at Value1  
Unaffiliated Issuers (Cost $87,940,137) 140,401,906
Affiliated Issuers (Cost $5,418,330) 5,418,960
Total Investments in Securities 145,820,866
Investment in Vanguard 3,369
Cash 10,222
Foreign Currency, at Value (Cost $284,256) 285,730
Cash Collateral Pledged—Futures Contracts 17,440
Cash Collateral Pledged—Over-the-Counter Swap Contracts and Forward Currency Contracts 3,121
Receivables for Investment Securities Sold 23,784
Receivables for Accrued Income 86,417
Receivables for Capital Shares Issued 225,142
Unrealized Appreciation—Forward Currency Contracts 2,867
Unrealized Appreciation—Over-the-Counter Swap Contracts 7,098
Other Assets 3,330
Total Assets 146,489,386
Liabilities  
Payables for Investment Securities Purchased 193,393
Collateral for Securities on Loan 2,923,856
Payables for Capital Shares Redeemed 14,644
Payables to Vanguard 4,956
Variation Margin Payable—Futures Contracts 822
Unrealized Depreciation—Forward Currency Contracts 9,127
Unrealized Depreciation—Over-the-Counter Swap Contracts 2,656
Deferred Foreign Capital Gains Taxes 1,819,447
Total Liabilities 4,968,901
Net Assets 141,520,485
1 Includes $2,677,764 of securities on loan.  
75

 

Emerging Markets Stock Index Fund
Statement of Assets and Liabilities (continued)

At October 31, 2025, net assets consisted of:
($000s, except shares and per-share amounts) Amount
Paid-in Capital 114,154,249
Total Distributable Earnings (Loss) 27,366,236
Net Assets 141,520,485
 
Investor Shares—Net Assets  
Applicable to 1,898,185 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		65,808
Net Asset Value Per Share—Investor Shares $34.67
 
ETF Shares—Net Assets  
Applicable to 1,914,069,820 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		104,720,978
Net Asset Value Per Share—ETF Shares $54.71
 
Admiral™ Shares—Net Assets  
Applicable to 444,669,642 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		20,230,598
Net Asset Value Per Share—Admiral Shares $45.50
 
Institutional Shares—Net Assets  
Applicable to 269,524,223 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		9,324,060
Net Asset Value Per Share—Institutional Shares $34.59
 
Institutional Plus Shares—Net Assets  
Applicable to 62,382,401 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		7,179,041
Net Asset Value Per Share—Institutional Plus Shares $115.08
See accompanying Notes, which are an integral part of the Financial Statements.
76

 

Emerging Markets Stock Index Fund
Statement of Operations
  Year Ended
October 31, 2025
  ($000)
Investment Income  
Income  
Dividends1 3,123,917
Interest2 93,929
Securities Lending—Net 62,308
Total Income 3,280,154
Expenses  
The Vanguard Group—Note B  
Investment Advisory Services 7,296
Management and Administrative—Investor Shares 170
Management and Administrative—ETF Shares 31,488
Management and Administrative—Admiral Shares 17,805
Management and Administrative—Institutional Shares 5,349
Management and Administrative—Institutional Plus Shares 2,458
Marketing and Distribution—Investor Shares 3
Marketing and Distribution—ETF Shares 2,075
Marketing and Distribution—Admiral Shares 902
Marketing and Distribution—Institutional Shares 251
Marketing and Distribution—Institutional Plus Shares 165
Custodian Fees 21,414
Auditing Fees 54
Shareholders’ Reports and Proxy Fees—Investor Shares 2
Shareholders’ Reports and Proxy Fees—ETF Shares 8,054
Shareholders’ Reports and Proxy Fees—Admiral Shares 619
Shareholders’ Reports and Proxy Fees—Institutional Shares 196
Shareholders’ Reports and Proxy Fees—Institutional Plus Shares 211
Trustees’ Fees and Expenses 66
Other Expenses 240
Total Expenses 98,818
Net Investment Income 3,181,336
Realized Net Gain (Loss)  
Investment Securities Sold2,3 (1,263,789)
Futures Contracts 99,623
Swap Contracts 49,975
Forward Currency Contracts (65,773)
Foreign Currencies (3,557)
Realized Net Gain (Loss) (1,183,521)
Change in Unrealized Appreciation (Depreciation)  
Investment Securities2,4 22,848,186
Futures Contracts 36,114
Swap Contracts 17,185
Forward Currency Contracts (8,911)
Foreign Currencies 9,951
Change in Unrealized Appreciation (Depreciation) 22,902,525
Net Increase (Decrease) in Net Assets Resulting from Operations 24,900,340
1 Dividends are net of foreign withholding taxes of $385,335.
2 Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $91,282, $131, and $468, respectively. Purchases and sales are for temporary cash investment purposes.
3 Realized Gain (Loss) is net of foreign capital gains taxes of $74,382.
4 The change in unrealized appreciation (depreciation) is net of the change in deferred foreign capital gains taxes of ($11,531).
See accompanying Notes, which are an integral part of the Financial Statements.
77

 

Emerging Markets Stock Index Fund
Statement of Changes in Net Assets
  Year Ended October 31,
  2025
($000) 		2024
($000)
Increase (Decrease) in Net Assets    
Operations    
Net Investment Income 3,181,336 2,898,166
Realized Net Gain (Loss) (1,183,521) (1,762,890)
Change in Unrealized Appreciation (Depreciation) 22,902,525 21,999,887
Net Increase (Decrease) in Net Assets Resulting from Operations 24,900,340 23,135,163
Distributions    
Investor Shares (2,001) (1,929)
ETF Shares (2,767,003) (2,180,846)
Admiral Shares (549,813) (436,818)
Institutional Shares (264,041) (205,490)
Institutional Plus Shares (178,952) (123,311)
Total Distributions (3,761,810) (2,948,394)
Capital Share Transactions    
Investor Shares (12,005) (15,428)
ETF Shares 6,639,817 (252,057)
Admiral Shares 88,791 (147,984)
Institutional Shares (176,046) (53,971)
Institutional Plus Shares 871,769 877,551
Net Increase (Decrease) from Capital Share Transactions 7,412,326 408,111
Total Increase (Decrease) 28,550,856 20,594,880
Net Assets    
Beginning of Period 112,969,629 92,374,749
End of Period 141,520,485 112,969,629
See accompanying Notes, which are an integral part of the Financial Statements.
78

 

Emerging Markets Stock Index Fund
Financial Highlights
Investor Shares          
For a Share Outstanding
Throughout Each Period 		Year Ended October 31,
2025 2024 2023 2022 2021
Net Asset Value, Beginning of Period $29.38 $24.11 $22.40 $32.02 $27.86
Investment Operations          
Net Investment Income1 .741 .692 .696 .805 .670
Net Realized and Unrealized Gain (Loss) on Investments 5.453 5.286 1.729 (9.574) 4.133
Total from Investment Operations 6.194 5.978 2.425 (8.769) 4.803
Distributions          
Dividends from Net Investment Income (.904) (.708) (.715) (.851) (.643)
Distributions from Realized Capital Gains — — — — —
Total Distributions (.904) (.708) (.715) (.851) (.643)
Net Asset Value, End of Period $34.67 $29.38 $24.11 $22.40 $32.02
Total Return2 21.68% 25.18% 10.72% -27.83% 17.23%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $66 $67 $68 $92 $171
Ratio of Total Expenses to Average Net Assets 0.29% 0.29%3 0.29%3 0.29%3 0.29%
Ratio of Net Investment Income to Average Net Assets 2.45% 2.56% 2.74% 2.85% 2.05%
Portfolio Turnover Rate4 6% 8% 5% 7% 9%
1 Calculated based on average shares outstanding.
2 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3 The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.29%.
4 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.
See accompanying Notes, which are an integral part of the Financial Statements.
79

 

Emerging Markets Stock Index Fund
Financial Highlights
FTSE Emerging Markets ETF Shares          
For a Share Outstanding
Throughout Each Period 		Year Ended October 31,
2025 2024 2023 2022 2021
Net Asset Value, Beginning of Period $46.36 $38.04 $35.35 $50.55 $43.98
Investment Operations          
Net Investment Income1 1.279 1.189 1.230 1.410 1.186
Net Realized and Unrealized Gain (Loss) on Investments 8.601 8.339 2.677 (15.163) 6.506
Total from Investment Operations 9.880 9.528 3.907 (13.753) 7.692
Distributions          
Dividends from Net Investment Income (1.530) (1.208) (1.217) (1.447) (1.122)
Distributions from Realized Capital Gains — — — — —
Total Distributions (1.530) (1.208) (1.217) (1.447) (1.122)
Net Asset Value, End of Period $54.71 $46.36 $38.04 $35.35 $50.55
Total Return 21.95% 25.46% 10.95% -27.68% 17.51%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $104,721 $82,565 $68,051 $60,832 $80,116
Ratio of Total Expenses to Average Net Assets 0.07% 0.08%2 0.08%2 0.08%2 0.08%
Ratio of Net Investment Income to Average Net Assets 2.67% 2.77% 3.06% 3.19% 2.29%
Portfolio Turnover Rate3 6% 8% 5% 7% 9%
1 Calculated based on average shares outstanding.
2 The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.
See accompanying Notes, which are an integral part of the Financial Statements.
80

 

Emerging Markets Stock Index Fund
Financial Highlights
Admiral Shares          
For a Share Outstanding
Throughout Each Period 		Year Ended October 31,
2025 2024 2023 2022 2021
Net Asset Value, Beginning of Period $38.55 $31.64 $29.39 $42.04 $36.57
Investment Operations          
Net Investment Income1 1.047 .967 1.002 1.145 .949
Net Realized and Unrealized Gain (Loss) on Investments 7.152 6.927 2.241 (12.617) 5.432
Total from Investment Operations 8.199 7.894 3.243 (11.472) 6.381
Distributions          
Dividends from Net Investment Income (1.249) (.984) (.993) (1.178) (.911)
Distributions from Realized Capital Gains — — — — —
Total Distributions (1.249) (.984) (.993) (1.178) (.911)
Net Asset Value, End of Period $45.50 $38.55 $31.64 $29.39 $42.04
Total Return2 21.90% 25.35% 10.92% -27.76% 17.44%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $20,231 $17,039 $14,094 $12,803 $17,690
Ratio of Total Expenses to Average Net Assets 0.13% 0.14%3 0.14%3 0.14%3 0.14%
Ratio of Net Investment Income to Average Net Assets 2.63% 2.71% 3.00% 3.11% 2.21%
Portfolio Turnover Rate4 6% 8% 5% 7% 9%
1 Calculated based on average shares outstanding.
2 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3 The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%.
4 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.
See accompanying Notes, which are an integral part of the Financial Statements.
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Financial Highlights
Institutional Shares          
For a Share Outstanding
Throughout Each Period 		Year Ended October 31,
2025 2024 2023 2022 2021
Net Asset Value, Beginning of Period $29.32 $24.06 $22.35 $31.96 $27.81
Investment Operations          
Net Investment Income1 .801 .746 .777 .882 .736
Net Realized and Unrealized Gain (Loss) on Investments 5.431 5.273 1.698 (9.585) 4.120
Total from Investment Operations 6.232 6.019 2.475 (8.703) 4.856
Distributions          
Dividends from Net Investment Income (.962) (.759) (.765) (.907) (.706)
Distributions from Realized Capital Gains — — — — —
Total Distributions (.962) (.759) (.765) (.907) (.706)
Net Asset Value, End of Period $34.59 $29.32 $24.06 $22.35 $31.96
Total Return 21.89% 25.43% 10.96% -27.70% 17.45%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $9,324 $8,042 $6,627 $5,715 $7,791
Ratio of Total Expenses to Average Net Assets 0.09% 0.10%2 0.10%2 0.10%2 0.10%
Ratio of Net Investment Income to Average Net Assets 2.65% 2.75% 3.06% 3.15% 2.25%
Portfolio Turnover Rate3 6% 8% 5% 7% 9%
1 Calculated based on average shares outstanding.
2 The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.10%.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.
See accompanying Notes, which are an integral part of the Financial Statements.
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Emerging Markets Stock Index Fund
Financial Highlights
Institutional Plus Shares          
For a Share Outstanding
Throughout Each Period 		Year Ended October 31,
2025 2024 2023 2022 2021
Net Asset Value, Beginning of Period $97.52 $80.02 $74.35 $106.33 $92.51
Investment Operations          
Net Investment Income1 2.696 2.506 2.557 2.931 2.412
Net Realized and Unrealized Gain (Loss) on Investments 18.083 17.536 5.672 (31.875) 13.779
Total from Investment Operations 20.779 20.042 8.229 (28.944) 16.191
Distributions          
Dividends from Net Investment Income (3.219) (2.542) (2.559) (3.036) (2.371)
Distributions from Realized Capital Gains — — — — —
Total Distributions (3.219) (2.542) (2.559) (3.036) (2.371)
Net Asset Value, End of Period $115.08 $97.52 $80.02 $74.35 $106.33
Total Return 21.95% 25.46% 10.96% -27.70% 17.49%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $7,179 $5,257 $3,535 $3,572 $5,097
Ratio of Total Expenses to Average Net Assets 0.07% 0.08%2 0.08%2 0.08%2 0.08%
Ratio of Net Investment Income to Average Net Assets 2.67% 2.78% 3.03% 3.14% 2.22%
Portfolio Turnover Rate3 6% 8% 5% 7% 9%
1 Calculated based on average shares outstanding.
2 The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.08%.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.
See accompanying Notes, which are an integral part of the Financial Statements.
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Emerging Markets Stock Index Fund
Notes to Financial Statements
Vanguard Emerging Markets Stock Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, ETF Shares, Admiral Shares, Institutional Shares, and Institutional Plus Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares, known as Vanguard FTSE Emerging Markets ETF Shares, are listed for trading on NYSE Arca; they can be purchased and sold through a broker.
A.  The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).
3. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.
During the year ended October 31, 2025, the fund’s average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.
4. Forward Currency Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. Risks associated with these types of forward currency contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The fund mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate the forward currency contracts, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
Forward currency contracts are valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.
During the year ended October 31, 2025, the fund’s average investment in forward currency contracts represented 2% of net assets, based on the average of the notional amounts at each quarter-end during the period.
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Emerging Markets Stock Index Fund
5. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund’s target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.
A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.
During the year ended October 31, 2025, the fund’s average amounts of investments in total return swaps represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.
6. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
7. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.
8. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.
9. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
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Emerging Markets Stock Index Fund
For the year ended October 31, 2025, the fund did not utilize the credit facilities or the Interfund Lending Program.
10. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
Taxes on foreign dividends and capital gains have been provided for in accordance with the applicable countries’ tax rules and rates. Deferred foreign capital gains tax, if any, is accrued daily based upon net unrealized gains. The fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union countries. These filings are subject to various administrative and judicial proceedings within these countries. Amounts related to these reclaims are recorded when there are no significant uncertainties as to the ‎ultimate resolution of proceedings, the likelihood of receipt of these reclaims, and the potential timing of ‎payment. Such tax reclaims and related professional fees, if any, are included in dividend income and other expenses, respectively.
Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxy fees. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.
B.  In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At October 31, 2025, the fund had contributed to Vanguard capital in the amount of $3,369,000, representing less than 0.01% of the fund’s net assets and 1.35% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
C.  Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund's investments and derivatives as of October 31, 2025, based on the inputs used to value them:
  Level 1
($000) 		Level 2
($000) 		Level 3
($000) 		Total
($000)
Investments        
Assets        
Common Stocks 9,875,445 128,844,062 133,890 138,853,397
Preferred Stocks 1,435,961 105,812 — 1,541,773
Rights 16 — 6,673 6,689
Warrants 47 — — 47
Temporary Cash Investments 5,418,960 — — 5,418,960
Total 16,730,429 128,949,874 140,563 145,820,866
Derivative Financial Instruments        
Assets        
Futures Contracts1 14,284 — — 14,284
Forward Currency Contracts — 2,867 — 2,867
Swap Contracts — 7,098 — 7,098
Total 14,284 9,965 — 24,249
Liabilities        
Forward Currency Contracts — (9,127) — (9,127)
Swap Contracts — (2,656) — (2,656)
Total — (11,783) — (11,783)
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.
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Emerging Markets Stock Index Fund
D.  At October 31, 2025, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:
Statement of Assets and Liabilities Equity
Contracts
($000) 		Foreign
Exchange
Contracts
($000) 		Total
($000)
Unrealized Appreciation—Futures Contracts1 14,284 — 14,284
Unrealized Appreciation—Forward Currency Contracts — 2,867 2,867
Unrealized Appreciation—Over-the-Counter Swap Contracts 7,098 — 7,098
Total Assets 21,382 2,867 24,249
       
Unrealized Depreciation—Forward Currency Contracts — (9,127) (9,127)
Unrealized Depreciation—Over-the-Counter Swap Contracts (2,656) — (2,656)
Total Liabilities (2,656) (9,127) (11,783)
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.  Only current day’s variation margin is reported within the Statement of Assets and Liabilities.
Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the year ended October 31, 2025, were:
Realized Net Gain (Loss) on Derivatives Equity
Contracts
($000) 		Foreign
Exchange
Contracts
($000) 		Total
($000)
Futures Contracts 99,623 — 99,623
Swap Contracts 49,975 — 49,975
Forward Currency Contracts — (65,773) (65,773)
Realized Net Gain (Loss) on Derivatives 149,598 (65,773) 83,825
 
Change in Unrealized Appreciation (Depreciation) on Derivatives      
Futures Contracts 36,114 — 36,114
Swap Contracts 17,185 — 17,185
Forward Currency Contracts — (8,911) (8,911)
Change in Unrealized Appreciation (Depreciation) on Derivatives 53,299 (8,911) 44,388
E.  Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. Examples of permanent differences include, but are not limited to, the accounting for passive foreign investment companies, in-kind redemptions, swap agreements, and distributions in connection with fund share redemptions.
Permanent differences were reclassified between the following accounts: Amount
($000)
Paid-in Capital (17)
Total Distributable Earnings (Loss) 17
Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Examples of temporary differences include, but are not limited to, capital loss carryforwards, the deferral of losses from wash sales, the recognition of unrealized gains or losses from certain derivative contracts, and the recognition of unrealized gains from passive foreign investment companies. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:
  Amount
($000)
Undistributed Ordinary Income 2,211,205
Undistributed Long-Term Gains —
Net Unrealized Gains (Losses) 47,839,093
Capital Loss Carryforwards (22,684,062)
Qualified Late-Year Losses —
Other Temporary Differences —
Total 27,366,236
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Emerging Markets Stock Index Fund
The tax character of distributions paid was as follows:
  Year Ended October 31,
  2025
Amount
($000) 		2024
Amount
($000)
Ordinary Income* 3,761,810 2,948,394
Long-Term Capital Gains — —
Total 3,761,810 2,948,394
* Includes short-term capital gains, if any.
As of October 31, 2025, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
  Amount
($000)
Tax Cost 96,110,855
Gross Unrealized Appreciation 62,921,544
Gross Unrealized Depreciation (13,208,693)
Net Unrealized Appreciation (Depreciation) 49,712,851
F.  During the year ended October 31, 2025, the fund purchased $11,528,793,000 of investment securities and sold $6,939,397,000 of investment securities, other than temporary cash investments. In addition, the fund purchased and sold investment securities of $1,973,322,000 and $0, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares.
G.  Capital share transactions for each class of shares were:
  Year Ended October 31,
  2025   2024
  Amount
($000) 		Shares
(000) 		  Amount
($000) 		Shares
(000)
Investor Shares          
Issued 7,400 247   6,642 247
Issued in Lieu of Cash Distributions 2,001 69   1,929 74
Redeemed (21,406) (690)   (23,999) (867)
Net Increase (Decrease)—Investor Shares (12,005) (374)   (15,428) (546)
ETF Shares          
Issued 6,639,817 133,182   2,498,111 56,075
Issued in Lieu of Cash Distributions — —   — —
Redeemed — —   (2,750,168) (64,000)
Net Increase (Decrease)—ETF Shares 6,639,817 133,182   (252,057) (7,925)
Admiral Shares          
Issued 3,024,405 76,706   2,818,992 79,694
Issued in Lieu of Cash Distributions 486,211 12,666   383,437 11,167
Redeemed (3,421,825) (86,653)   (3,350,413) (94,419)
Net Increase (Decrease)—Admiral Shares 88,791 2,719   (147,984) (3,558)
Institutional Shares          
Issued 1,640,909 54,639   1,504,130 56,204
Issued in Lieu of Cash Distributions 254,050 8,706   197,562 7,562
Redeemed (2,071,005) (68,159)   (1,755,663) (64,900)
Net Increase (Decrease)—Institutional Shares (176,046) (4,814)   (53,971) (1,134)
Institutional Plus Shares          
Issued 1,218,783 11,852   1,151,751 12,632
Issued in Lieu of Cash Distributions 170,189 1,746   114,704 1,319
Redeemed (517,203) (5,120)   (388,904) (4,224)
Net Increase (Decrease)—Institutional Plus Shares 871,769 8,478   877,551 9,727
H.  Significant market disruptions, such as those caused by pandemics, natural or environmental ‎disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and global ‎markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
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Emerging Markets Stock Index Fund
To the extent the fund’s investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.
The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund’s use of derivative(s) and the specific risks associated is described under significant accounting policies.
I.  Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating results regularly reviewed by a chief operating decision maker (“CODM”). The fund is considered a single segment. Vanguard’s chief executive officer, chief investment officer, and chief financial officer, who are also officers of the fund, as well as the fund’s chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing aspects of the fund’s daily operations. Through these committees, the CODM manages the fund’s operations to achieve a single investment objective, as detailed in its prospectus, through the execution of the fund’s investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund’s portfolio composition, total returns, expense ratios and changes in net assets which are consistent with the information contained in the fund’s financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial statements.
J.  Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in these financial statements.
89

 

Report of Independent Registered
Public Accounting Firm
To the Board of Trustees of Vanguard International Equity Index Funds and Shareholders of Vanguard Emerging Markets Stock Index Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Vanguard Emerging Markets Stock Index Fund (one of the funds constituting Vanguard International Equity Index Funds, referred to hereafter as the "Fund") as of October 31, 2025, the related statement of operations for the year ended October 31, 2025, the statement of changes in net assets for each of the two years in the period ended October 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2025 and the financial highlights for each of the five years in the period ended October 31, 2025 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements 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 of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, 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. 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. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodian, transfer agent 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/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
December 19, 2025
We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.
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Tax information (unaudited)
The fund hereby designates $1,199,907,000, or if subsequently determined to be different, the maximum amount allowable by law, as qualified dividend income for purposes of the maximum rate under section 1(h)(11) for calendar year 2024. Shareholders will be notified in January 2026 via IRS Form 1099 of the amounts for use in preparing their 2025 income tax return.
The fund hereby designates for the fiscal year $51,681,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.
The fund designates to shareholders foreign source income of $3,509,533,000 and foreign taxes paid of $441,720,000, or if subsequently determined to be different, the maximum amounts allowable by law. Form 1099-DIV reports calendar-year amounts that can be included on the income tax return of shareholders.
Q5330 122025
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